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Business Segments
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Business Segments

11.

Business Segments

The Building Materials business contains two reportable segments: the East Group and the West Group. 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; 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; expenses for corporate administrative functions; acquisition-related expenses; and other nonrecurring income and expenses excluded from the Company’s evaluation of business segment performance and resource allocation. All long-term debt and related interest expense are held at Corporate.

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.

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

(Dollars in Millions)

 

Total revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

East Group

 

$

635.3

 

 

$

534.5

 

 

$

1,030.2

 

 

$

916.5

 

West Group

 

 

666.8

 

 

 

682.5

 

 

 

1,183.4

 

 

 

1,193.1

 

Total Building Materials business

 

 

1,302.1

 

 

 

1,217.0

 

 

 

2,213.6

 

 

 

2,109.6

 

Magnesia Specialties

 

 

75.8

 

 

 

53.6

 

 

 

146.7

 

 

 

119.3

 

Total

 

$

1,377.9

 

 

$

1,270.6

 

 

$

2,360.3

 

 

$

2,228.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Products and services revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

East Group

 

$

596.5

 

 

$

499.7

 

 

$

969.1

 

 

$

857.6

 

West Group

 

 

628.8

 

 

 

640.9

 

 

 

1,112.9

 

 

 

1,114.1

 

Total Building Materials business

 

 

1,225.3

 

 

 

1,140.6

 

 

 

2,082.0

 

 

 

1,971.7

 

Magnesia Specialties

 

 

70.0

 

 

 

48.9

 

 

 

135.2

 

 

 

108.8

 

Total

 

$

1,295.3

 

 

$

1,189.5

 

 

$

2,217.2

 

 

$

2,080.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (Loss) from operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

East Group

 

$

197.8

 

 

$

169.9

 

 

$

259.5

 

 

$

204.7

 

West Group

 

 

101.8

 

 

 

133.2

 

 

 

133.6

 

 

 

155.9

 

Total Building Materials business

 

 

299.6

 

 

 

303.1

 

 

 

393.1

 

 

 

360.6

 

Magnesia Specialties

 

 

23.1

 

 

 

13.2

 

 

 

46.7

 

 

 

34.9

 

Corporate

 

 

(15.2

)

 

 

(9.9

)

 

 

(33.0

)

 

 

(31.3

)

Total

 

$

307.5

 

 

$

306.4

 

 

$

406.8

 

 

$

364.2

 

 

 

 

 

 

June 30, 2021

 

 

December 31, 2020

 

Assets employed:

 

(Dollars in Millions)

 

East Group

 

$

5,110.4

 

 

$

4,342.5

 

West Group

 

 

5,395.9

 

 

 

5,355.5

 

Total Building Materials business

 

 

10,506.3

 

 

 

9,698.0

 

Magnesia Specialties

 

 

168.3

 

 

 

167.9

 

Corporate

 

 

548.5

 

 

 

714.9

 

Total

 

$

11,223.1

 

 

$

10,580.8

 

The increase in assets from December 31, 2020 to June 30, 2021 primarily relates to right-of-use assets for finance leases and the Tiller acquisition.