XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.22.1

Business Combinations And Discontinued Operations (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Business Combinations [Abstract] |
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following is a summary of the preliminary estimated fair values of the assets acquired and liabilities assumed as of October 1, 2021 (dollars in millions):
Assets: |  |  |  |
Inventories |  | $ | 94.1 |
Property, plant and equipment |  |  | 850.2 |
Intangible assets, other than goodwill |  |  | 551.0 |
Goodwill |  |  | 992.8 |
Other assets |  |  | 54.6 |
Total assets |  |  | 2,542.7 |
Liabilities: |  |  |  |
Asset retirement obligations |  |  | 178.9 |
Operating and finance lease liabilities |  |  | 57.5 |
Other liabilities |  |  | 41.7 |
Total liabilities |  |  | 278.1 |
Total consideration |  | $ | 2,264.6 |
Summary of Discontinued Operations and Assets and Liabilities Held for Sale | Discontinued operations for the quarter ended March 31, 2022 include the following:
(Dollars in Millions) |  |  |  |
Total revenues |  | $ | 94.7 |
Loss from operations |  | $ | (4.0 | )
Pretax loss |  | $ | (4.1 | )
Income tax benefit |  |  | 1.0 |
Net loss |  | $ | (3.1 | )
Assets and liabilities held for sale as of March 31, 2022 and December 31, 2021, which also include a cement plant in Tehachapi, California; related cement distribution terminals; the remaining California ready mixed concrete plants; certain investment properties; and the Colorado and Central Texas ready mixed concrete operations, which were only classified as held for sale as of March 31, 2022 (see Note 14), are as follows:
|  | March 31, 2022 |  |  | December 31, 2021 |
|  | Continuing Operations |  |  | Discontinued Operations |  |  | Total |  |  | Continuing Operations |  |  | Discontinued Operations |  |  | Total |
|  | (Dollars in Millions) |
Inventories, net |  | $ | 8.9 |  |  | $ | 41.8 |  |  | $ | 50.7 |  |  | $ | — |  |  | $ | 53.1 |  |  | $ | 53.1 |
Investment land |  |  | 40.7 |  |  |  | — |  |  |  | 40.7 |  |  |  | 32.7 |  |  |  | — |  |  |  | 32.7 |
Other assets |  |  | 0.5 |  |  |  | 29.3 |  |  |  | 29.8 |  |  |  | — |  |  |  | 16.4 |  |  |  | 16.4 |
Total current assets held for sale |  | $ | 50.1 |  |  | $ | 71.1 |  |  | $ | 121.2 |  |  | $ | 32.7 |  |  | $ | 69.5 |  |  | $ | 102.2 |
Property, plant and equipment |  | $ | 65.6 |  |  | $ | 226.9 |  |  | $ | 292.5 |  |  | $ | — |  |  | $ | 226.0 |  |  | $ | 226.0 |
Intangible assets, excluding goodwill |  |  | 5.7 |  |  |  | 264.9 |  |  |  | 270.6 |  |  |  | — |  |  |  | 264.9 |  |  |  | 264.9 |
Operating lease right-of-use assets |  |  | 7.4 |  |  |  | 18.9 |  |  |  | 26.3 |  |  |  | — |  |  |  | 18.1 |  |  |  | 18.1 |
Goodwill |  |  | 115.9 |  |  |  | 104.7 |  |  |  | 220.6 |  |  |  | — |  |  |  | 109.3 |  |  |  | 109.3 |
Other assets |  |  | — |  |  |  | 8.9 |  |  |  | 8.9 |  |  |  | — |  |  |  | 4.6 |  |  |  | 4.6 |
Valuation allowance for loss on sale |  |  | — |  |  |  | (6.0 | ) |  |  | (6.0 | ) |  |  | — |  |  |  | (6.0 | ) |  |  | (6.0 | )
Total noncurrent assets held for sale |  | $ | 194.6 |  |  | $ | 618.3 |  |  | $ | 812.9 |  |  | $ | — |  |  | $ | 616.9 |  |  | $ | 616.9 |
Lease obligations |  | $ | (1.0 | ) |  | $ | (8.3 | ) |  | $ | (9.3 | ) |  | $ | — |  |  | $ | (7.5 | ) |  | $ | (7.5 | )
Total current liabilities held for sale |  | $ | (1.0 | ) |  | $ | (8.3 | ) |  | $ | (9.3 | ) |  | $ | — |  |  | $ | (7.5 | ) |  | $ | (7.5 | )
Asset retirement obligations |  | $ | (0.7 | ) |  | $ | (32.7 | ) |  | $ | (33.4 | ) |  | $ | — |  |  | $ | (31.5 | ) |  | $ | (31.5 | )
Lease obligations |  |  | (6.8 | ) |  |  | (23.2 | ) |  |  | (30.0 | ) |  |  | — |  |  |  | (22.0 | ) |  |  | (22.0 | )
Other liabilities |  |  | — |  |  |  | (0.5 | ) |  |  | (0.5 | ) |  |  | — |  |  |  | — |  |  |  | — |
Total noncurrent liabilities held for sale |  | $ | (7.5 | ) |  | $ | (56.4 | ) |  | $ | (63.9 | ) |  | $ | — |  |  | $ | (53.5 | ) |  | $ | (53.5 | )

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

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration