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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Earnings From Continuing Operations before Income Taxes | The components of earnings from continuing operations before income taxes are as follows:
in millions | 2024 | 2023 | 2022
Earnings from Continuing Operations before Income Taxes |  |  |
Domestic | $ | 1,196.1 |  | $ | 1,251.0 |  | $ | 788.7 |
Foreign | (24.0) |  | (5.9) |  | (0.6) |
Total | $ | 1,172.1 |  | $ | 1,245.1 |  | $ | 788.1 |
Schedule of Income Tax Expense (Benefit) from Continuing Operations | Income tax expense (benefit) from continuing operations consists of the following:
in millions | 2024 | 2023 | 2022
Income Tax Expense (Benefit) from Continuing Operations |  |  |
Current |  |  |
Federal | $ | 204.7 |  | $ | 274.8 |  | $ | 85.2 |
State and local | 51.8 |  | 64.0 |  | 43.6 |
Foreign | 4.8 |  | 4.8 |  | 4.6 |
Total | $ | 261.3 |  | $ | 343.6 |  | $ | 133.4 |
Deferred |  |  |
Federal | $ | 13.6 |  | $ | (44.1) |  | $ | 43.4 |
State and local | (20.5) |  | (4.2) |  | 3.3 |
Foreign | (3.0) |  | 4.1 |  | 12.9 |
Total | $ | (9.9) |  | $ | (44.2) |  | $ | 59.6 |
Total expense | $ | 251.4 |  | $ | 299.4 |  | $ | 193.0 |
Schedule of Sources and Tax Effects of Differences Between Expense (Benefit) Taxes | Income tax expense (benefit) differs from the amount computed by applying the federal statutory income tax rate to earnings from continuing operations before income taxes. The sources and tax effects of the differences are as follows:
dollars in millions | 2024 | 2023 | 2022
Income tax expense at the federal statutory tax rate | $ | 246.1 |  | 21.0 | % | $ | 261.5 |  | 21.0 | % | $ | 165.5 |  | 21.0 | %
Expense (Benefit) from Income Tax Differences |  |  |  |
Statutory depletion | (41.0) |  | (3.5 | %) | (39.0) |  | (3.1 | %) | (30.6) |  | (3.9 | %)
State and local income taxes, net of federal income tax benefit | 51.4 |  | 4.4 | % | 48.7 |  | 3.9 | % | 37.5 |  | 4.8 | %
Nondeductible goodwill | 16.2 |  | 1.4 | % | 16.2 |  | 1.3 | % | 10.7 |  | 1.4 | %
Valuation allowance | 0.1 |  | 0.0 | % | 10.3 |  | 0.8 | % | 14.5 |  | 1.8 | %
Deferred tax rate remeasurement | (21.9) |  | (1.9 | %) | 0.0 |  | 0.0 | % | 0.0 |  | 0.0 | %
Other, net | 0.5 |  | 0.0 | % | 1.7 |  | 0.1 | % | (4.6) |  | (0.6 | %)
Total income tax expense / Effective tax rate | $ | 251.4 |  | 21.4 | % | $ | 299.4 |  | 24.0 | % | $ | 193.0 |  | 24.5 | %
Schedule of Components of Net Deferred Income Tax Liability | The components of the net deferred income tax liability at December 31 are as follows:
in millions | 2024 | 2023
Deferred Tax Assets |  |
Operating lease liabilities | $ | 140.8 |  | $ | 139.1 |
Asset retirement obligations & other reserves | 86.6 |  | 87.1 |
State net operating losses | 74.7 |  | 79.6 |
Incentive compensation | 52.4 |  | 57.6 |
State bonus depreciation | 55.7 |  | 54.7 |
Capitalized research expenditures | 39.7 |  | 25.4 |
Employee benefits | 22.2 |  | 22.9 |
Other | 81.8 |  | 56.9 |
Total gross deferred tax assets | $ | 553.9 |  | $ | 523.3 |
Valuation allowance | (87.7) |  | (89.5) |
Total net deferred tax asset | $ | 466.2 |  | $ | 433.8 |
Deferred Tax Liabilities |  |
Property, plant & equipment | $ | 1,244.8 |  | $ | 907.1 |
Goodwill/other intangible assets | 323.2 |  | 334.4 |
Operating lease right-of-use assets | 129.8 |  | 128.2 |
Other | 104.9 |  | 93.0 |
Total deferred tax liabilities | $ | 1,802.7 |  | $ | 1,462.7 |
Deferred income tax liability, net | $ | 1,336.5 |  | $ | 1,028.9 |
Schedule of Changes in Unrecognized Income Tax Benefits | Changes in our liability for unrecognized tax benefits for the years ended December 31 are as follows:
in millions | 2024 | 2023 | 2022
Unrecognized tax benefits as of January 1 | $ | 21.0 |  | $ | 18.7 |  | $ | 10.8 |
Increases for tax positions related to |  |  |
Prior years | 0.8 |  | 0.3 |  | 4.6 |
Current year | 6.7 |  | 4.8 |  | 6.6 |
Decreases for tax positions related to |  |  |
Prior years | 0.0 |  | (0.3) |  | (0.2) |
Settlements | (0.3) |  | (0.2) |  | 0.0 |
Expiration of applicable statute of limitations | (3.3) |  | (2.3) |  | (3.1) |
Unrecognized tax benefits as of December 31 | $ | 24.9 |  | $ | 21.0 |  | $ | 18.7 |

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