XML 33 R25.htm IDEA: XBRL DOCUMENT
v3.24.3

Business Combinations, Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
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 April 5, 2024 (dollars in millions):
Assets: |  |  |
Inventories |  | $ | 49 |
Property, plant and equipment 1 |  |  | 2,052 |
Intangible assets, other than goodwill |  |  | 19 |
Other assets |  |  | 2 |
Total assets |  |  | 2,122 |
Liabilities: |  |  |
Deferred income taxes |  |  | 239 |
Asset retirement obligations |  |  | 3 |
Other liabilities |  |  | 98 |
Total liabilities |  |  | 340 |
Net identifiable assets acquired |  |  | 1,782 |
Goodwill |  |  | 268 |
Total consideration |  | $ | 2,050 |
1 Includes mineral reserves of $1.9 billion.
Summary of Unaudited Pro Forma Financial Information | The following pro forma financial information is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place as of January 1, 2023:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (Dollars in Millions) |
Revenues |  | $ | 1,889 |  |  | $ | 2,059 |  |  | $ | 4,957 |  |  | $ | 5,335 |
Net earnings from continuing operations attributable to Martin Marietta |  | $ | 363 |  |  | $ | 415 |  |  | $ | 1,733 |  |  | $ | 834 |
On October 25, 2024, the Company completed an aggregates bolt-on acquisition in South Florida.
Summary of Discontinued Operations and Assets and Liabilities Held for Sale | Financial results for the Company's discontinued operations are as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2023 |
|  | (Dollars in Millions) |
Revenues |  | $ | 27 |  |  | $ | 86 |
Pretax earnings (loss) from operations |  | $ | 4 |  |  | $ | (14 | )
Pretax loss on divestitures and sales of assets |  |  | (21 | ) |  |  | (20 | )
Pretax loss |  |  | (17 | ) |  |  | (34 | )
Income tax benefit |  |  | (4 | ) |  |  | (8 | )
Loss from discontinued operations, net of income tax benefit |  | $ | (13 | ) |  | $ | (26 | )
Cash flow information for the Company's discontinued operations is as follows:
|  | Nine Months Ended |
|  | September 30, 2023 |
|  | (Dollars in Millions) |
Net cash used for operating activities |  | $ | (9 | )
Additions to property, plant and equipment |  | $ | (4 | )
Proceeds from divestitures and sales of assets |  |  | 57 |
Net cash provided by investing activities |  | $ | 53 |
Assets and liabilities held for sale are as follows:
|  | September 30, 2024 |  |  | December 31, 2023 |
|  | Continuing Operations |
|  | (Dollars in Millions) |
Inventories, net |  | $ | — |  |  | $ | 61 |
Investment land |  |  | 10 |  |  |  | 18 |
Other assets |  |  | — |  |  |  | 4 |
Property, plant and equipment |  |  | — |  |  |  | 327 |
Intangible assets, excluding goodwill |  |  | — |  |  |  | 122 |
Operating lease right-of-use assets |  |  | — |  |  |  | 15 |
Goodwill |  |  | — |  |  |  | 260 |
Total current assets held for sale |  | $ | 10 |  |  | $ | 807 |
Lease obligations |  | $ | — |  |  | $ | (16 | )
Asset retirement obligations |  |  | — |  |  |  | (2 | )
Total current liabilities held for sale |  | $ | — |  |  | $ | (18 | )

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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 -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + 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 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483475/205-20-45-11 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5D -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5D Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-7 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 205 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-1 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration