XML 67 R34.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Changes in Goodwill | The following table shows the changes in goodwill by reportable segment and in total:
December 31 |  | East Group |  |  | West Group |  |  | Total |
(in millions) |  | 2021 |
Balance at beginning of period |  | $ | 572.5 |  |  | $ | 1,841.5 |  |  | $ | 2,414.0 |
Acquisitions |  |  | 186.9 |  |  |  | 893.5 |  |  |  | 1,080.4 |
Balance at end of period |  | $ | 759.4 |  |  | $ | 2,735.0 |  |  | $ | 3,494.4 |
|  | 2020 |
Balance at beginning of period |  | $ | 574.3 |  |  | $ | 1,822.5 |  |  | $ | 2,396.8 |
Acquisitions |  |  | — |  |  |  | 17.3 |  |  |  | 17.3 |
Goodwill reclassified from/(allocated to) assets held for sale |  |  | 0.1 |  |  |  | (0.1 | ) |  |  | — |
Divestitures |  |  | — |  |  |  | (0.1 | ) |  |  | (0.1 | )
Transfer of operations from East Group to West Group |  |  | (1.9 | ) |  |  | 1.9 |  |  |  | — |
Balance at end of period |  | $ | 572.5 |  |  | $ | 1,841.5 |  |  | $ | 2,414.0 |
Intangible Assets Subject to Amortization | Intangible assets subject to amortization consist of the following:
December 31 |  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Balance |
(in millions) |  | 2021 |
Noncompetition agreements |  | $ | 4.2 |  |  | $ | (4.1 | ) |  | $ | 0.1 |
Customer relationships |  |  | 425.3 |  |  |  | (49.2 | ) |  |  | 376.1 |
Operating permits |  |  | 697.3 |  |  |  | (56.6 | ) |  |  | 640.7 |
Use rights and other |  |  | 16.3 |  |  |  | (13.9 | ) |  |  | 2.4 |
Trade names |  |  | 23.3 |  |  |  | (13.6 | ) |  |  | 9.7 |
Total |  | $ | 1,166.4 |  |  | $ | (137.4 | ) |  | $ | 1,029.0 |
|  | 2020 |
Noncompetition agreements |  | $ | 4.2 |  |  | $ | (4.1 | ) |  | $ | 0.1 |
Customer relationships |  |  | 91.3 |  |  |  | (35.6 | ) |  |  | 55.7 |
Operating permits |  |  | 460.8 |  |  |  | (48.4 | ) |  |  | 412.4 |
Use rights and other |  |  | 16.3 |  |  |  | (13.0 | ) |  |  | 3.3 |
Trade names |  |  | 12.8 |  |  |  | (12.3 | ) |  |  | 0.5 |
Total |  | $ | 585.4 |  |  | $ | (113.4 | ) |  | $ | 472.0 |
Intangible Assets Deemed to Indefinite Life that are Therefore Not Amortized | Intangible assets deemed to have an indefinite life that are therefore not amortized consist of the following as of December 31, 2021 and 2020:
(in millions) |  | Building Materials Business |  |  | Magnesia Specialties |  |  | Total |
Operating permits |  | $ | 6.6 |  |  | $ | — |  |  | $ | 6.6 |
Use rights |  |  | 26.7 |  |  |  | — |  |  |  | 26.7 |
Trade names |  |  | 0.2 |  |  |  | 2.5 |  |  |  | 2.7 |
Total |  | $ | 33.5 |  |  | $ | 2.5 |  |  | $ | 36.0 |
Summary of Intangible Assets Acquired | During 2021, the Company acquired $845.9 million of intangible assets, of which $264.9 million were classified as held for sale as of December 31, 2021 (see Note D). Excluding the intangible assets classified as held for sale, acquired intangible assets consist of the following:
(in millions, except year data) |  | Amount |  |  | Weighted-average amortization period
Subject to amortization: |  |  |  |  |  |
Customer relationships |  | $ | 334.0 |  |  | 25 years
Trade name |  |  | 10.5 |  |  | 9 years
Operating permits |  |  | 236.5 |  |  | 40 years
Total subject to amortization |  | $ | 581.0 |  |  | 31 years
Estimated Amortization Expense of Intangible Assets | The estimated amortization expense for intangible assets for each of the next five years and thereafter is as follows:
(in millions) |  |  |  |
2022 |  | $ | 34.1 |
2023 |  |  | 33.8 |
2024 |  |  | 33.6 |
2025 |  |  | 33.4 |
2026 |  |  | 31.9 |
Thereafter |  |  | 862.2 |
Total |  | $ | 1,029.0 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -Subparagraph (b),(d) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration