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Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2018
Significant Accounting Policies [Line Items] |
Changes in Accumulated Other Comprehensive Earnings Net of Tax | Changes in accumulated other comprehensive earnings, 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 September 30, 2018 |
Balance at beginning of period |  | $ | (124,798 | ) |  | $ | (1,085 | ) |  | $ | — |  |  | $ | (125,883 | )
Other comprehensive earnings before reclassifications, net of tax |  |  | — |  |  |  | 365 |  |  |  | — |  |  |  | 365 |
Amounts reclassified from accumulated other comprehensive loss, net of tax |  |  | 4,027 |  |  |  | — |  |  |  | — |  |  |  | 4,027 |
Other comprehensive earnings, net of tax |  |  | 4,027 |  |  |  | 365 |  |  |  | — |  |  |  | 4,392 |
Balance at end of period |  | $ | (120,771 | ) |  | $ | (720 | ) |  | $ | — |  |  | $ | (121,491 | )
|  | Three-Months Ended September 30, 2017 |
Balance at beginning of period |  | $ | (124,553 | ) |  | $ | (636 | ) |  | $ | (717 | ) |  | $ | (125,906 | )
Other comprehensive earnings before reclassifications, net of tax |  |  | — |  |  |  | 838 |  |  |  | — |  |  |  | 838 |
Amounts reclassified from accumulated other comprehensive loss, net of tax |  |  | 1,918 |  |  |  | — |  |  |  | 222 |  |  |  | 2,140 |
Other comprehensive earnings, net of tax |  |  | 1,918 |  |  |  | 838 |  |  |  | 222 |  |  |  | 2,978 |
Balance at end of period |  | $ | (122,635 | ) |  | $ | 202 |  |  | $ | (495 | ) |  | $ | (122,928 | )
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 |
|  | Nine-Months Ended September 30, 2018 |
Balance at beginning of period |  | $ | (128,802 | ) |  | $ | (22 | ) |  | $ | (280 | ) |  | $ | (129,104 | )
Other comprehensive loss before reclassifications, net of tax |  |  | — |  |  |  | (698 | ) |  |  | — |  |  |  | (698 | )
Amounts reclassified from accumulated other comprehensive loss, net of tax |  |  | 8,031 |  |  |  | — |  |  |  | 280 |  |  |  | 8,311 |
Other comprehensive earnings (loss), net of tax |  |  | 8,031 |  |  |  | (698 | ) |  |  | 280 |  |  |  | 7,613 |
Balance at end of period |  | $ | (120,771 | ) |  | $ | (720 | ) |  | $ | — |  |  | $ | (121,491 | )
|  | Nine-Months Ended September 30, 2017 |
Balance at beginning of period |  | $ | (128,373 | ) |  | $ | (1,162 | ) |  | $ | (1,152 | ) |  | $ | (130,687 | )
Other comprehensive earnings before reclassifications, net of tax |  |  | — |  |  |  | 1,364 |  |  |  | — |  |  |  | 1,364 |
Amounts reclassified from accumulated other comprehensive loss, net of tax |  |  | 5,738 |  |  |  | — |  |  |  | 657 |  |  |  | 6,395 |
Other comprehensive earnings, net of tax |  |  | 5,738 |  |  |  | 1,364 |  |  |  | 657 |  |  |  | 7,759 |
Balance at end of period |  | $ | (122,635 | ) |  | $ | 202 |  |  | $ | (495 | ) |  | $ | (122,928 | )
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 September 30, 2018 |
Balance at beginning of period |  | $ | 78,619 |  |  | $ | — |  |  | $ | 78,619 |
Tax effect of other comprehensive earnings |  |  | (1,326 | ) |  |  | — |  |  |  | (1,326 | )
Balance at end of period |  | $ | 77,293 |  |  | $ | — |  |  | $ | 77,293 |
|  | Three-Months Ended September 30, 2017 |
Balance at beginning of period |  | $ | 79,675 |  |  | $ | 464 |  |  | $ | 80,139 |
Tax effect of other comprehensive earnings |  |  | (1,193 | ) |  |  | (147 | ) |  |  | (1,340 | )
Balance at end of period |  | $ | 78,482 |  |  | $ | 317 |  |  | $ | 78,799 |
|  | Nine-Months Ended September 30, 2018 |
Balance at beginning of period |  | $ | 79,938 |  |  | $ | 178 |  |  | $ | 80,116 |
Tax effect of other comprehensive earnings |  |  | (2,645 | ) |  |  | (178 | ) |  |  | (2,823 | )
Balance at end of period |  | $ | 77,293 |  |  | $ | — |  |  | $ | 77,293 |
|  | Nine-Months Ended September 30, 2017 |
Balance at beginning of period |  | $ | 82,044 |  |  | $ | 749 |  |  | $ | 82,793 |
Tax effect of other comprehensive earnings |  |  | (3,562 | ) |  |  | (432 | ) |  |  | (3,994 | )
Balance at end of period |  | $ | 78,482 |  |  | $ | 317 |  |  | $ | 78,799 |
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 |  |  | Nine-Months Ended |  |  | Affected line items in the consolidated
|  | September 30, |  |  | September 30, |  |  | statements of earnings and
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |  |  | comprehensive earnings
|  | (Dollars in Thousands) |  |  |
Pension and postretirement benefit plans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Settlement expense |  | $ | 2,692 |  |  | $ | — |  |  | $ | 2,692 |  |  | $ | — |  |  |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service credit |  |  | (492 | ) |  |  | (402 | ) |  |  | (1,479 | ) |  |  | (1,070 | ) |  |
Actuarial loss |  |  | 3,153 |  |  |  | 3,513 |  |  |  | 9,463 |  |  |  | 10,370 |  |  |
|  |  | 5,353 |  |  |  | 3,111 |  |  |  | 10,676 |  |  |  | 9,300 |  |  | Other nonoperating income, net
Tax benefit |  |  | (1,326 | ) |  |  | (1,193 | ) |  |  | (2,645 | ) |  |  | (3,562 | ) |  | Income tax expense
|  | $ | 4,027 |  |  | $ | 1,918 |  |  | $ | 8,031 |  |  | $ | 5,738 |  |  |
Unamortized value of terminated forward starting interest rate swap |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additional interest expense |  | $ | — |  |  | $ | 369 |  |  | $ | 458 |  |  | $ | 1,089 |  |  | Interest expense
Tax benefit |  |  | — |  |  |  | (147 | ) |  |  | (178 | ) |  |  | (432 | ) |  | Income tax expense
|  | $ | — |  |  | $ | 222 |  |  | $ | 280 |  |  | $ | 657 |  |  |
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 |  |  | Nine-Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (In Thousands) |
Net earnings attributable to Martin Marietta Materials, Inc. |  | $ | 180,221 |  |  | $ | 151,546 |  |  | $ | 375,621 |  |  | $ | 336,159 |
Less: Distributed and undistributed earnings attributable to unvested awards |  |  | 271 |  |  |  | 399 |  |  |  | 672 |  |  |  | 1,000 |
Basic and diluted net earnings available to common shareholders attributable to Martin Marietta Materials, Inc. |  | $ | 179,950 |  |  | $ | 151,147 |  |  | $ | 374,949 |  |  | $ | 335,159 |
Basic weighted-average common shares outstanding |  |  | 62,932 |  |  |  | 62,896 |  |  |  | 62,970 |  |  |  | 62,940 |
Effect of dilutive employee and director awards |  |  | 235 |  |  |  | 262 |  |  |  | 254 |  |  |  | 278 |
Diluted weighted-average common shares outstanding |  |  | 63,167 |  |  |  | 63,158 |  |  |  | 63,224 |  |  |  | 63,218 |
Parent |
Significant Accounting Policies [Line Items] |
Comprehensive Earnings | Comprehensive earnings attributable to Martin Marietta is as follows:
|  | Three-Months Ended |  |  | Nine-Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (Dollars in Thousands) |
Net earnings attributable to Martin Marietta Materials, Inc. |  | $ | 180,221 |  |  | $ | 151,546 |  |  | $ | 375,621 |  |  | $ | 336,159 |
Other comprehensive earnings, net of tax |  |  | 4,392 |  |  |  | 2,978 |  |  |  | 7,613 |  |  |  | 7,759 |
Comprehensive earnings attributable to Martin Marietta Materials, Inc. |  | $ | 184,613 |  |  | $ | 154,524 |  |  | $ | 383,234 |  |  | $ | 343,918 |
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 |  |  | Nine-Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (Dollars in Thousands) |
Net earnings (loss) attributable to noncontrolling interests |  | $ | 132 |  |  | $ | (7 | ) |  | $ | 275 |  |  | $ | (72 | )
Other comprehensive earnings, net of tax |  |  | — |  |  |  | 8 |  |  |  | 1 |  |  |  | 10 |
Comprehensive earnings (loss) attributable to noncontrolling interests |  | $ | 132 |  |  | $ | 1 |  |  | $ | 276 |  |  | $ | (62 | )

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