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Segments | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Segments | Note O: Segments As of December 31, 2023, the Building Materials business is comprised of four divisions that represent individual operating segments. These operating segments are consolidated into two reportable segments, the East Group and the West Group, for financial reporting purposes as they meet the aggregation criteria. The Magnesia Specialties business represents an individual operating and reportable segment. The accounting policies used for segment reporting are the same as those described in Note A. The Chief Operating Decision Maker’s evaluation of performance and allocation of resources are based primarily on earnings from operations. Segment earnings from operations include total revenues less cost of revenues; selling, general and administrative expenses; other operating income and expenses, net; and exclude interest income and expense; other nonoperating income and expenses, net; and income tax expense. Corporate loss from operations primarily includes depreciation; expenses for corporate administrative functions; acquisition, divestiture and integration expenses; and other nonrecurring income and expenses not attributable to operations of the Company's other operating segments. Assets employed by segment include assets directly identified with those operations. Corporate assets consist primarily of cash, cash equivalents and restricted cash; restricted investments; property, plant and equipment for corporate operations; and other assets not directly identifiable with a reportable segment. The following tables display selected financial data for the Company’s reportable segments. Total revenues, as presented on the consolidated statements of earnings, reflect the elimination of intersegment revenues, which represent sales from one segment to another segment. Total revenues and earnings (loss) from operations reflect continuing operations only.
years ended December 31 (in millions) Total revenues |  | 2023 |  |  | 2022 |  |  | 2021 |
East Group |  | $ | 2,763.4 |  |  | $ | 2,468.1 |  |  | $ | 2,303.0 |
West Group |  |  | 3,698.4 |  |  |  | 3,388.6 |  |  |  | 2,812.3 |
Total Building Materials business |  |  | 6,461.8 |  |  |  | 5,856.7 |  |  |  | 5,115.3 |
Magnesia Specialties |  |  | 315.4 |  |  |  | 304.0 |  |  |  | 298.7 |
Total |  | $ | 6,777.2 |  |  | $ | 6,160.7 |  |  | $ | 5,414.0 |
years ended December 31 (in millions) Earnings (Loss) from operations |  | 2023 |  |  | 2022 |  |  | 2021 |
East Group |  | $ | 857.1 |  |  | $ | 640.2 |  |  | $ | 621.7 |
West Group |  |  | 777.1 |  |  |  | 588.1 |  |  |  | 385.2 |
Total Building Materials business |  |  | 1,634.2 |  |  |  | 1,228.3 |  |  |  | 1,006.9 |
Magnesia Specialties |  |  | 76.0 |  |  |  | 75.2 |  |  |  | 90.8 |
Total reportable segments |  |  | 1,710.2 |  |  |  | 1,303.5 |  |  |  | 1,097.7 |
Corporate |  |  | (114.2 | ) |  |  | (96.8 | ) |  |  | (123.9 | )
Consolidated earnings from operations |  |  | 1,596.0 |  |  |  | 1,206.7 |  |  |  | 973.8 |
Interest expense |  |  | 165.3 |  |  |  | 169.0 |  |  |  | 142.7 |
Other nonoperating income, net |  |  | (62.1 | ) |  |  | (53.4 | ) |  |  | (24.4 | )
Consolidated earnings from continuing operations before income tax expense |  | $ | 1,492.8 |  |  | $ | 1,091.1 |  |  | $ | 855.5 |
Earnings from operations for the West Group included a nonrecurring gain on divestiture of $151.9 million in 2022.
December 31 (in millions) Assets employed |  | 2023 |  |  | 2022 |  |  | 2021 |
East Group |  | $ | 5,131.1 |  |  | $ | 5,063.5 |  |  | $ | 5,009.0 |
West Group |  |  | 7,696.7 |  |  |  | 7,908.4 |  |  |  | 8,264.8 |
Total Building Materials business |  |  | 12,827.8 |  |  |  | 12,971.9 |  |  |  | 13,273.8 |
Magnesia Specialties |  |  | 250.0 |  |  |  | 192.1 |  |  |  | 168.7 |
Total reportable segments |  |  | 13,077.8 |  |  |  | 13,164.0 |  |  |  | 13,442.5 |
Corporate |  |  | 2,047.1 |  |  |  | 1,829.6 |  |  |  | 950.5 |
Total |  | $ | 15,124.9 |  |  | $ | 14,993.6 |  |  | $ | 14,393.0 |
years ended December 31 (in millions) Depreciation, depletion and amortization |  | 2023 |  |  | 2022 |  |  | 2021 |
East Group |  | $ | 210.1 |  |  | $ | 210.4 |  |  | $ | 196.0 |
West Group |  |  | 268.0 |  |  |  | 260.6 |  |  |  | 223.0 |
Total Building Materials business |  |  | 478.1 |  |  |  | 471.0 |  |  |  | 419.0 |
Magnesia Specialties |  |  | 12.5 |  |  |  | 12.2 |  |  |  | 12.3 |
Total reportable segments |  |  | 490.6 |  |  |  | 483.2 |  |  |  | 431.3 |
Corporate |  |  | 22.6 |  |  |  | 22.8 |  |  |  | 20.4 |
Total |  | $ | 513.2 |  |  | $ | 506.0 |  |  | $ | 451.7 |
Corporate depreciation, depletion and amortization included $5.9 million, $6.6 million and $5.2 million for the amortization of bond discount and debt issuance costs in 2023, 2022 and 2021, respectively.
years ended December 31 (in millions) Total property additions, including the impact of acquisitions |  | 2023 |  |  | 2022 |  |  | 2021 |
East Group |  | $ | 230.8 |  |  | $ | 189.1 |  |  | $ | 372.9 |
West Group |  |  | 341.7 |  |  |  | 302.2 |  |  |  | 1,131.6 |
Total Building Materials business |  |  | 572.5 |  |  |  | 491.3 |  |  |  | 1,504.5 |
Magnesia Specialties |  |  | 39.3 |  |  |  | 32.0 |  |  |  | 8.2 |
Total reportable segments |  |  | 611.8 |  |  |  | 523.3 |  |  |  | 1,512.7 |
Corporate |  |  | 14.4 |  |  |  | 21.1 |  |  |  | 28.8 |
Total |  | $ | 626.2 |  |  | $ | 544.4 |  |  | $ | 1,541.5 |
years ended December 31 (in millions) Property additions through acquisitions |  | 2023 |  |  | 2022 |  |  | 2021 |
East Group |  | $ | — |  |  | $ | — |  |  | $ | 169.2 |
West Group |  |  | — |  |  |  | 2.5 |  |  |  | 918.3 |
Total Building Materials business |  |  | — |  |  |  | 2.5 |  |  |  | 1,087.5 |
Magnesia Specialties |  |  | — |  |  |  | — |  |  |  | — |
Total reportable segments |  |  | — |  |  |  | 2.5 |  |  |  | 1,087.5 |
Corporate |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | — |  |  | $ | 2.5 |  |  | $ | 1,087.5 |

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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://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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