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Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2018
Significant Accounting Policies [Line Items] |
Changes in Accumulated Other Comprehensive Earnings (Loss), Net of Tax | Changes in accumulated other comprehensive earnings (loss), net of tax, are as follows:
|  | (Dollars in Thousands) |
|  |  |  |  |  |  |  |  |  | Unamortized |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Value of |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Terminated |  |  | Accumulated |
|  | Pension and |  |  |  |  |  |  | Forward Starting |  |  | Other |
|  | Postretirement |  |  | Foreign |  |  | Interest Rate |  |  | Comprehensive |
|  | Benefit Plans |  |  | Currency |  |  | Swap |  |  | Loss |
|  | Three-Months Ended June 30, 2018 |
Balance at beginning of period |  | $ | (126,806 | ) |  | $ | (609 | ) |  | $ | (70 | ) |  | $ | (127,485 | )
Other comprehensive loss before reclassifications, net of tax |  |  | — |  |  |  | (476 | ) |  |  | — |  |  |  | (476 | )
Amounts reclassified from accumulated other comprehensive earnings, net of tax |  |  | 2,008 |  |  |  | — |  |  |  | 70 |  |  |  | 2,078 |
Other comprehensive earnings (loss), net of tax |  |  | 2,008 |  |  |  | (476 | ) |  |  | 70 |  |  |  | 1,602 |
Balance at end of period |  | $ | (124,798 | ) |  | $ | (1,085 | ) |  | $ | — |  |  | $ | (125,883 | )
|  | Three-Months Ended June 30, 2017 |
Balance at beginning of period |  | $ | (126,463 | ) |  | $ | (1,025 | ) |  | $ | (937 | ) |  | $ | (128,425 | )
Other comprehensive earnings before reclassifications, net of tax |  |  | — |  |  |  | 389 |  |  |  | — |  |  |  | 389 |
Amounts reclassified from accumulated other comprehensive earnings, net of tax |  |  | 1,910 |  |  |  | — |  |  |  | 220 |  |  |  | 2,130 |
Other comprehensive earnings, net of tax |  |  | 1,910 |  |  |  | 389 |  |  |  | 220 |  |  |  | 2,519 |
Balance at end of period |  | $ | (124,553 | ) |  | $ | (636 | ) |  | $ | (717 | ) |  | $ | (125,906 | )
1. | Significant Accounting Policies (continued)
Consolidated Comprehensive Earnings/Loss and Accumulated Other Comprehensive Loss (continued)
|  | (Dollars in Thousands) |
|  |  |  |  |  |  |  |  |  | Unamortized |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Value of |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Terminated |  |  | Accumulated |
|  | Pension and |  |  |  |  |  |  | Forward Starting |  |  | Other |
|  | Postretirement |  |  | Foreign |  |  | Interest Rate |  |  | Comprehensive |
|  | Benefit Plans |  |  | Currency |  |  | Swap |  |  | Loss |
|  | Six-Months Ended June 30, 2018 |
Balance at beginning of period |  | $ | (128,802 | ) |  | $ | (22 | ) |  | $ | (280 | ) |  | $ | (129,104 | )
Other comprehensive loss before reclassifications, net of tax |  |  | — |  |  |  | (1,063 | ) |  |  | — |  |  |  | (1,063 | )
Amounts reclassified from accumulated other comprehensive earnings, net of tax |  |  | 4,004 |  |  |  | — |  |  |  | 280 |  |  |  | 4,284 |
Other comprehensive earnings (loss), net of tax |  |  | 4,004 |  |  |  | (1,063 | ) |  |  | 280 |  |  |  | 3,221 |
Balance at end of period |  | $ | (124,798 | ) |  | $ | (1,085 | ) |  | $ | — |  |  | $ | (125,883 | )
|  | Six-Months Ended June 30, 2017 |
Balance at beginning of period |  | $ | (128,373 | ) |  | $ | (1,162 | ) |  | $ | (1,152 | ) |  | $ | (130,687 | )
Other comprehensive earnings before reclassifications, net of tax |  |  | — |  |  |  | 526 |  |  |  | — |  |  |  | 526 |
Amounts reclassified from accumulated other comprehensive earnings, net of tax |  |  | 3,820 |  |  |  | — |  |  |  | 435 |  |  |  | 4,255 |
Other comprehensive earnings, net of tax |  |  | 3,820 |  |  |  | 526 |  |  |  | 435 |  |  |  | 4,781 |
Balance at end of period |  | $ | (124,553 | ) |  | $ | (636 | ) |  | $ | (717 | ) |  | $ | (125,906 | )
Noncurrent Deferred Tax Assets Recorded In Accumulated Other Comprehensive Loss | Changes in net noncurrent deferred tax assets recorded in accumulated other comprehensive loss are as follows:
|  | (Dollars in Thousands) |
|  | Pension and Postretirement Benefit Plans |  |  | Unamortized Value of Terminated Forward Starting Interest Rate Swap |  |  | Net Noncurrent Deferred Tax Assets |
|  | Three-Months Ended June 30, 2018 |
Balance at beginning of period |  | $ | 79,280 |  |  | $ | 41 |  |  | $ | 79,321 |
Tax effect of other comprehensive earnings |  |  | (661 | ) |  |  | (41 | ) |  |  | (702 | )
Balance at end of period |  | $ | 78,619 |  |  | $ | - |  |  | $ | 78,619 |
|  | Three-Months Ended June 30, 2017 |
Balance at beginning of period |  | $ | 80,859 |  |  | $ | 608 |  |  | $ | 81,467 |
Tax effect of other comprehensive earnings |  |  | (1,184 | ) |  |  | (144 | ) |  |  | (1,328 | )
Balance at end of period |  | $ | 79,675 |  |  | $ | 464 |  |  | $ | 80,139 |
|  | Six-Months Ended June 30, 2018 |
Balance at beginning of period |  | $ | 79,938 |  |  | $ | 178 |  |  | $ | 80,116 |
Tax effect of other comprehensive earnings |  |  | (1,319 | ) |  |  | (178 | ) |  |  | (1,497 | )
Balance at end of period |  | $ | 78,619 |  |  | $ | - |  |  | $ | 78,619 |
|  | Six-Months Ended June 30, 2017 |
Balance at beginning of period |  | $ | 82,044 |  |  | $ | 749 |  |  | $ | 82,793 |
Tax effect of other comprehensive earnings |  |  | (2,369 | ) |  |  | (285 | ) |  |  | (2,654 | )
Balance at end of period |  | $ | 79,675 |  |  | $ | 464 |  |  | $ | 80,139 |
Reclassification Out of Accumulated Other Comprehensive Loss |
1. | Significant Accounting Policies (continued)
Consolidated Comprehensive Earnings/Loss and Accumulated Other Comprehensive Loss (continued) Reclassifications out of accumulated other comprehensive loss are as follows:
|  | Three-Months Ended |  |  | Six-Months Ended |  |  | Affected line items in the consolidated
|  | June 30, |  |  | June 30, |  |  | statements of earnings and
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |  |  | comprehensive earnings
|  | (Dollars in Thousands) |  |  |
Pension and postretirement benefit plans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service credit |  | $ | (400 | ) |  | $ | (358 | ) |  |  | (985 | ) |  |  | (716 | ) |  |
Actuarial loss |  |  | 3,069 |  |  |  | 3,452 |  |  |  | 6,308 |  |  |  | 6,905 |  |  |
|  |  | 2,669 |  |  |  | 3,094 |  |  |  | 5,323 |  |  |  | 6,189 |  |  | Other nonoperating income, net
Tax benefit |  |  | (661 | ) |  |  | (1,184 | ) |  |  | (1,319 | ) |  |  | (2,369 | ) |  | Income tax expense
|  | $ | 2,008 |  |  | $ | 1,910 |  |  | $ | 4,004 |  |  | $ | 3,820 |  |  |
Unamortized value of terminated forward starting interest rate swap |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additional interest expense |  | $ | 111 |  |  | $ | 364 |  |  | $ | 458 |  |  | $ | 720 |  |  | Interest expense
Tax benefit |  |  | (41 | ) |  |  | (144 | ) |  |  | (178 | ) |  |  | (285 | ) |  | Income tax expense
|  | $ | 70 |  |  | $ | 220 |  |  | $ | 280 |  |  | $ | 435 |  |  |
Basic and Diluted Earnings Per Common Share |
1. | Significant Accounting Policies (continued)
Earnings per Common Share The following table reconciles the numerator and denominator for basic and diluted earnings per common share:
|  | Three-Months Ended |  |  | Six-Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (In Thousands) |
Net earnings attributable to Martin Marietta Materials, Inc. |  | $ | 185,377 |  |  | $ | 142,279 |  |  | $ | 195,400 |  |  | $ | 184,613 |
Less: Distributed and undistributed earnings attributable to unvested awards |  |  | 317 |  |  |  | 413 |  |  |  | 378 |  |  |  | 553 |
Basic and diluted net earnings available to common shareholders attributable to Martin Marietta Materials, Inc. |  | $ | 185,060 |  |  | $ | 141,866 |  |  | $ | 195,022 |  |  | $ | 184,060 |
Basic weighted-average common shares outstanding |  |  | 63,021 |  |  |  | 62,858 |  |  |  | 62,989 |  |  |  | 62,961 |
Effect of dilutive employee and director awards |  |  | 264 |  |  |  | 283 |  |  |  | 264 |  |  |  | 285 |
Diluted weighted-average common shares outstanding |  |  | 63,285 |  |  |  | 63,141 |  |  |  | 63,253 |  |  |  | 63,246 |
Parent |
Significant Accounting Policies [Line Items] |
Comprehensive Earnings | Comprehensive earnings attributable to Martin Marietta is as follows:
|  | Three-Months Ended |  |  | Six-Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (Dollars in Thousands) |
Net earnings attributable to Martin Marietta Materials, Inc. |  | $ | 185,377 |  |  | $ | 142,279 |  |  | $ | 195,400 |  |  | $ | 184,613 |
Other comprehensive earnings, net of tax |  |  | 1,602 |  |  |  | 2,519 |  |  |  | 3,221 |  |  |  | 4,781 |
Comprehensive earnings attributable to Martin Marietta Materials, Inc. |  | $ | 186,979 |  |  | $ | 144,798 |  |  | $ | 198,621 |  |  | $ | 189,394 |
Noncontrolling Interests |
Significant Accounting Policies [Line Items] |
Comprehensive Earnings | Comprehensive earnings attributable to noncontrolling interests, consisting of net earnings and adjustments for the funded status of pension and postretirement benefit plans, is as follows:
|  | Three-Months Ended |  |  | Six-Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (Dollars in Thousands) |
Net earnings (loss) attributable to noncontrolling interests |  | $ | 126 |  |  | $ | (38 | ) |  | $ | 143 |  |  | $ | (65 | )
Other comprehensive earnings, net of tax |  |  | — |  |  |  | 1 |  |  |  | 1 |  |  |  | 2 |
Comprehensive earnings (loss) attributable to noncontrolling interests |  | $ | 126 |  |  | $ | (37 | ) |  | $ | 144 |  |  | $ | (63 | )

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