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Business Segments | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Business Segments |
10. | Business Segments
Effective July 1, 2020, the Company made organizational changes to its Building Material business resulting in two reportable segments: the East Group and the West Group. Additional information on this reportable segment change and the change effective January 1, 2020 is provided in Note 1. The Company also has a Magnesia Specialties segment. The Company’s evaluation of performance and allocation of resources are based primarily on earnings from operations. Consolidated earnings from operations include total revenues less cost of revenues; selling, general and administrative expenses; acquisition-related expenses, net; other operating income and expenses, net; and exclude interest expense; other nonoperating income and expenses, net; and income taxes. Corporate loss from operations primarily includes depreciation on capitalized interest; unallocated expenses for corporate administrative functions; acquisition-related expenses, net; and other nonrecurring income and expenses excluded from the Company’s evaluation of business segment performance and resource allocation. The following table displays selected financial data for the Company’s reportable segments. Total revenues, as presented on the consolidated statements of earnings and comprehensive earnings, exclude intersegment revenues, which represent sales from one segment to another segment and are eliminated in consolidation. Prior-year reportable segment information has been reclassified to conform to the current-year presentation.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
|  | (Dollars in Millions) |
Total revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
East Group |  | $ | 549.3 |  |  | $ | 582.0 |  |  | $ | 1,465.9 |  |  | $ | 1,500.8 |
West Group |  |  | 711.2 |  |  |  | 773.4 |  |  |  | 1,904.2 |  |  |  | 1,922.7 |
Total Building Materials Business |  |  | 1,260.5 |  |  |  | 1,355.4 |  |  |  | 3,370.1 |  |  |  | 3,423.5 |
Magnesia Specialties |  |  | 60.9 |  |  |  | 64.8 |  |  |  | 180.2 |  |  |  | 215.2 |
Total |  | $ | 1,321.4 |  |  | $ | 1,420.2 |  |  | $ | 3,550.3 |  |  | $ | 3,638.7 |
Products and services revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
East Group |  | $ | 514.1 |  |  | $ | 539.8 |  |  | $ | 1,371.8 |  |  | $ | 1,398.6 |
West Group |  |  | 671.4 |  |  |  | 724.1 |  |  |  | 1,785.4 |  |  |  | 1,800.1 |
Total Building Materials Business |  |  | 1,185.5 |  |  |  | 1,263.9 |  |  |  | 3,157.2 |  |  |  | 3,198.7 |
Magnesia Specialties |  |  | 55.2 |  |  |  | 59.3 |  |  |  | 164.0 |  |  |  | 198.9 |
Total |  | $ | 1,240.7 |  |  | $ | 1,323.2 |  |  | $ | 3,321.2 |  |  | $ | 3,397.6 |
Earnings (Loss) from operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
East Group |  | $ | 181.4 |  |  | $ | 190.8 |  |  | $ | 386.1 |  |  | $ | 416.5 |
West Group(1) |  |  | 212.3 |  |  |  | 156.8 |  |  |  | 368.2 |  |  |  | 287.7 |
Total Building Materials Business |  |  | 393.7 |  |  |  | 347.6 |  |  |  | 754.3 |  |  |  | 704.2 |
Magnesia Specialties |  |  | 16.4 |  |  |  | 20.1 |  |  |  | 51.2 |  |  |  | 68.0 |
Corporate |  |  | (9.5 | ) |  |  | (22.4 | ) |  |  | (40.7 | ) |  |  | (71.8 | )
Total |  | $ | 400.6 |  |  | $ | 345.3 |  |  | $ | 764.8 |  |  | $ | 700.4 |
(1) 2020 amounts include nonrecurring gains on sales of investment land and divested assets of $69.9 million
|  | September 30, 2020 |  |  | December 31, 2019 |
Assets employed: |  | (Dollars in Millions) |
East Group |  | $ | 4,373.9 |  |  | $ | 4,320.6 |
West Group |  |  | 5,390.3 |  |  |  | 5,321.9 |
Total Building Materials Business |  |  | 9,764.2 |  |  |  | 9,642.5 |
Magnesia Specialties |  |  | 163.5 |  |  |  | 176.2 |
Corporate |  |  | 507.7 |  |  |  | 312.9 |
Total |  | $ | 10,435.4 |  |  | $ | 10,131.6 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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