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Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2019
Significant Accounting Policies [Line Items] |
Changes in Accumulated Other Comprehensive Loss Net of Tax | Changes in accumulated other comprehensive loss, net of tax, are as follows:
|  | (Dollars in Thousands) |
|  | Pension and Postretirement Benefit Plans |  |  | Foreign Currency |  |  | Unamortized Value of Terminated Forward Starting Interest Rate Swap |  |  | Accumulated Other Comprehensive Loss |
|  | Three Months Ended September 30, 2019 |
Balance at beginning of period |  | $ | (136,021 | ) |  | $ | (1,313 | ) |  | $ | — |  |  | $ | (137,334 | )
Amounts reclassified from accumulated other comprehensive loss, net of tax |  |  | 2,726 |  |  |  | (157 | ) |  |  | — |  |  |  | 2,569 |
Balance at end of period |  | $ | (133,295 | ) |  | $ | (1,470 | ) |  | $ | — |  |  | $ | (134,765 | )
|  | 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 | )
|  | Nine Months Ended September 30, 2019 |
Balance at beginning of period |  | $ | (141,505 | ) |  | $ | (2,074 | ) |  | $ | — |  |  | $ | (143,579 | )
Amounts reclassified from accumulated other comprehensive loss, net of tax |  |  | 8,210 |  |  |  | 604 |  |  |  | — |  |  |  | 8,814 |
Balance at end of period |  | $ | (133,295 | ) |  | $ | (1,470 | ) |  | $ | — |  |  | $ | (134,765 | )
|  | 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 | )
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, 2019 |
Balance at beginning of period |  | $ | 82,417 |  |  | $ | — |  |  | $ | 82,417 |
Tax effect of other comprehensive earnings |  |  | (899 | ) |  |  | — |  |  |  | (899 | )
Balance at end of period |  | $ | 81,518 |  |  | $ | — |  |  | $ | 81,518 |
|  | 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 |
|  | Nine Months Ended September 30, 2019 |
Balance at beginning of period |  | $ | 84,207 |  |  | $ | — |  |  | $ | 84,207 |
Tax effect of other comprehensive earnings |  |  | (2,689 | ) |  |  | — |  |  |  | (2,689 | )
Balance at end of period |  | $ | 81,518 |  |  | $ | — |  |  | $ | 81,518 |
|  | 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 |
Reclassification Out of Accumulated Other Comprehensive Loss | 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
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |  |  | comprehensive earnings
|  | (Dollars in Thousands) |  |  |
Pension and postretirement benefit plans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Settlement expense |  | $ | — |  |  | $ | 2,692 |  |  | $ | — |  |  | $ | 2,692 |  |  |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service credit |  |  | (188 | ) |  |  | (492 | ) |  |  | (566 | ) |  |  | (1,479 | ) |  |
Actuarial loss |  |  | 3,813 |  |  |  | 3,153 |  |  |  | 11,465 |  |  |  | 9,463 |  |  |
|  |  | 3,625 |  |  |  | 5,353 |  |  |  | 10,899 |  |  |  | 10,676 |  |  | Other nonoperating (income) and expense, net
Tax benefit |  |  | (899 | ) |  |  | (1,326 | ) |  |  | (2,689 | ) |  |  | (2,645 | ) |  | Income tax expense
|  | $ | 2,726 |  |  | $ | 4,027 |  |  | $ | 8,210 |  |  | $ | 8,031 |  |  |
Unamortized value of terminated forward starting interest rate swap |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additional interest expense |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 458 |  |  | Interest expense
Tax benefit |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (178 | ) |  | Income tax expense
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 280 |  |  |
Basic and Diluted 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, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  | (In Thousands) |
Net earnings attributable to Martin Marietta Materials, Inc. |  | $ | 248,573 |  |  | $ | 180,221 |  |  | $ | 480,901 |  |  | $ | 375,621 |
Less: Distributed and undistributed earnings attributable to unvested awards |  |  | 345 |  |  |  | 271 |  |  |  | 886 |  |  |  | 672 |
Basic and diluted net earnings available to common shareholders attributable to Martin Marietta Materials, Inc. |  | $ | 248,228 |  |  | $ | 179,950 |  |  | $ | 480,015 |  |  | $ | 374,949 |
Basic weighted-average common shares outstanding |  |  | 62,510 |  |  |  | 62,932 |  |  |  | 62,552 |  |  |  | 62,970 |
Effect of dilutive employee and director awards |  |  | 169 |  |  |  | 235 |  |  |  | 173 |  |  |  | 254 |
Diluted weighted-average common shares outstanding |  |  | 62,679 |  |  |  | 63,167 |  |  |  | 62,725 |  |  |  | 63,224 |
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, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  | (Dollars in Thousands) |
Net earnings attributable to Martin Marietta Materials, Inc. |  | $ | 248,573 |  |  | $ | 180,221 |  |  | $ | 480,901 |  |  | $ | 375,621 |
Other comprehensive earnings, net of tax |  |  | 2,569 |  |  |  | 4,392 |  |  |  | 8,814 |  |  |  | 7,613 |
Comprehensive earnings attributable to Martin Marietta Materials, Inc. |  | $ | 251,142 |  |  | $ | 184,613 |  |  | $ | 489,715 |  |  | $ | 383,234 |
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, are as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  | (Dollars in Thousands) |
Net earnings attributable to noncontrolling interests |  | $ | 49 |  |  | $ | 132 |  |  | $ | 17 |  |  | $ | 275 |
Other comprehensive earnings, net of tax |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |
Comprehensive earnings attributable to noncontrolling interests |  | $ | 49 |  |  | $ | 132 |  |  | $ | 17 |  |  | $ | 276 |

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