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v3.25.3

Segments (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Financial Data for Continuing Operation for Company's Reportable Business Segments | The following tables display selected financial data for the Company’s reportable segments. Revenues, as presented on the consolidated statements of earnings and comprehensive earnings, reflect the elimination of intersegment revenues, which represent sales from one segment to another segment and are immaterial. Revenues and earnings (loss) from operations reflect continuing operations only. Income tax expense is not allocated to the Company's reportable segments.
|  | Three Months Ended September 30, 2025 |
|  | (Dollars in Millions) |
|  | East Group |  |  | West Group |  |  | Specialties |  |  | Total Reportable Segments |  |  | Corporate |  |  | Total |
Segment Revenues |  | $ | 953 |  |  | $ | 762 |  |  | $ | 131 |  |  | $ | 1,846 |  |  | $ | — |  |  | $ | 1,846 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Labor and benefits expense |  |  | 114 |  |  |  | 82 |  |  |  | 17 |  |  |  | 213 |  |  |  | 3 |  |  |  | 216 |
Raw materials expense |  |  | 42 |  |  |  | 49 |  |  |  | 8 |  |  |  | 99 |  |  |  | — |  |  |  | 99 |
Depreciation, depletion and amortization expense |  |  | 81 |  |  |  | 53 |  |  |  | 8 |  |  |  | 142 |  |  |  | 1 |  |  |  | 143 |
Energy expense |  |  | 41 |  |  |  | 28 |  |  |  | 10 |  |  |  | 79 |  |  |  | — |  |  |  | 79 |
External freight expense |  |  | 34 |  |  |  | 70 |  |  |  | 11 |  |  |  | 115 |  |  |  | — |  |  |  | 115 |
Other costs of revenues |  |  | 271 |  |  |  | 265 |  |  |  | 43 |  |  |  | 579 |  |  |  | 4 |  |  |  | 583 |
Selling, general and administrative expenses |  |  | 41 |  |  |  | 36 |  |  |  | 8 |  |  |  | 85 |  |  |  | 25 |  |  |  | 110 |
Acquisition, divestiture and integration expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | 5 |
Other operating income, net |  |  | (2 | ) |  |  | (1 | ) |  |  | — |  |  |  | (3 | ) |  |  | (6 | ) |  |  | (9 | )
Segment Earnings (Loss) from Operations |  | $ | 331 |  |  | $ | 180 |  |  | $ | 26 |  |  | $ | 537 |  |  | $ | (32 | ) |  | $ | 505 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 59 |
Other nonoperating income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4 | )
Consolidated earnings from continuing operations before income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 450 |
|  | Three Months Ended September 30, 2024 |
|  | (Dollars in Millions) |
|  | East Group |  |  | West Group |  |  | Specialties |  |  | Total Reportable Segments |  |  | Corporate |  |  | Total |
Segment Revenues |  | $ | 849 |  |  | $ | 711 |  |  | $ | 82 |  |  | $ | 1,642 |  |  | $ | — |  |  | $ | 1,642 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Labor and benefits expense |  |  | 104 |  |  |  | 77 |  |  |  | 9 |  |  |  | 190 |  |  |  | 2 |  |  |  | 192 |
Raw materials expense |  |  | 48 |  |  |  | 67 |  |  |  | 5 |  |  |  | 120 |  |  |  | — |  |  |  | 120 |
Depreciation, depletion and amortization expense |  |  | 75 |  |  |  | 48 |  |  |  | 3 |  |  |  | 126 |  |  |  | 1 |  |  |  | 127 |
Energy expense |  |  | 41 |  |  |  | 27 |  |  |  | 8 |  |  |  | 76 |  |  |  | — |  |  |  | 76 |
External freight expense |  |  | 30 |  |  |  | 58 |  |  |  | 8 |  |  |  | 96 |  |  |  | — |  |  |  | 96 |
Other costs of revenues |  |  | 235 |  |  |  | 248 |  |  |  | 20 |  |  |  | 503 |  |  |  | 15 |  |  |  | 518 |
Selling, general and administrative expenses |  |  | 34 |  |  |  | 32 |  |  |  | 5 |  |  |  | 71 |  |  |  | 30 |  |  |  | 101 |
Acquisition, divestiture and integration expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | 3 |
Other operating expense (income), net |  |  | 10 |  |  |  | (5 | ) |  |  | (2 | ) |  |  | 3 |  |  |  | — |  |  |  | 3 |
Segment Earnings (Loss) from Operations |  | $ | 272 |  |  | $ | 159 |  |  | $ | 26 |  |  | $ | 457 |  |  | $ | (51 | ) |  | $ | 406 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 38 |
Other nonoperating income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6 | )
Consolidated earnings from continuing operations before income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 374 |
|  | Nine Months Ended September 30, 2025 |
|  | (Dollars in Millions) |
|  | East Group |  |  | West Group |  |  | Specialties |  |  | Total Reportable Segments |  |  | Corporate |  |  | Total |
Segment Revenues |  | $ | 2,419 |  |  | $ | 1,889 |  |  | $ | 309 |  |  | $ | 4,617 |  |  | $ | — |  |  | $ | 4,617 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Labor and benefits expense |  |  | 314 |  |  |  | 227 |  |  |  | 38 |  |  |  | 579 |  |  |  | 3 |  |  |  | 582 |
Raw materials expense |  |  | 65 |  |  |  | 97 |  |  |  | 17 |  |  |  | 179 |  |  |  | — |  |  |  | 179 |
Depreciation, depletion and amortization expense |  |  | 233 |  |  |  | 157 |  |  |  | 17 |  |  |  | 407 |  |  |  | 2 |  |  |  | 409 |
Energy expense |  |  | 110 |  |  |  | 77 |  |  |  | 27 |  |  |  | 214 |  |  |  | — |  |  |  | 214 |
External freight expense |  |  | 85 |  |  |  | 175 |  |  |  | 28 |  |  |  | 288 |  |  |  | — |  |  |  | 288 |
Other costs of revenues |  |  | 744 |  |  |  | 692 |  |  |  | 74 |  |  |  | 1,510 |  |  |  | 13 |  |  |  | 1,523 |
Selling, general and administrative expenses |  |  | 123 |  |  |  | 110 |  |  |  | 18 |  |  |  | 251 |  |  |  | 89 |  |  |  | 340 |
Acquisition, divestiture and integration expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9 |  |  |  | 9 |
Other operating (income) expense, net |  |  | (4 | ) |  |  | 3 |  |  |  | — |  |  |  | (1 | ) |  |  | (22 | ) |  |  | (23 | )
Segment Earnings (Loss) from Operations |  | $ | 749 |  |  | $ | 351 |  |  | $ | 90 |  |  | $ | 1,190 |  |  | $ | (94 | ) |  | $ | 1,096 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 172 |
Other nonoperating income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (23 | )
Consolidated earnings from continuing operations before income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 947 |
|  | Nine Months Ended September 30, 2024 |
|  | (Dollars in Millions) |
|  | East Group |  |  | West Group |  |  | Specialties |  |  | Total Reportable Segments |  |  | Corporate |  |  | Total |
Segment Revenues |  | $ | 2,198 |  |  | $ | 1,809 |  |  | $ | 243 |  |  | $ | 4,250 |  |  | $ | — |  |  | $ | 4,250 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Labor and benefits expense |  |  | 295 |  |  |  | 226 |  |  |  | 29 |  |  |  | 550 |  |  |  | 2 |  |  |  | 552 |
Raw materials expense |  |  | 72 |  |  |  | 143 |  |  |  | 14 |  |  |  | 229 |  |  |  | — |  |  |  | 229 |
Depreciation, depletion and amortization expense |  |  | 189 |  |  |  | 143 |  |  |  | 11 |  |  |  | 343 |  |  |  | 2 |  |  |  | 345 |
Energy expense |  |  | 111 |  |  |  | 80 |  |  |  | 24 |  |  |  | 215 |  |  |  | — |  |  |  | 215 |
External freight expense |  |  | 82 |  |  |  | 156 |  |  |  | 24 |  |  |  | 262 |  |  |  | — |  |  |  | 262 |
Other costs of revenues |  |  | 689 |  |  |  | 660 |  |  |  | 57 |  |  |  | 1,406 |  |  |  | 30 |  |  |  | 1,436 |
Selling, general and administrative expenses |  |  | 103 |  |  |  | 102 |  |  |  | 15 |  |  |  | 220 |  |  |  | 108 |  |  |  | 328 |
Acquisition, divestiture and integration expenses |  |  | — |  |  |  | 16 |  |  |  | — |  |  |  | 16 |  |  |  | 28 |  |  |  | 44 |
Other operating expense (income), net |  |  | 7 |  |  |  | (1,277 | ) |  |  | (4 | ) |  |  | (1,274 | ) |  |  | (27 | ) |  |  | (1,301 | )
Segment Earnings (Loss) from Operations |  | $ | 650 |  |  | $ | 1,560 |  |  | $ | 73 |  |  | $ | 2,283 |  |  | $ | (143 | ) |  | $ | 2,140 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 118 |
Other nonoperating income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (51 | )
Consolidated earnings from continuing operations before income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,073 |
Assets employed by segment include assets directly identified with those operations. Corporate assets consist primarily of cash and cash equivalents; property, plant and equipment for corporate operations; and other assets not directly identifiable with a reportable segment.
|  | September 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Assets employed: |  | (Dollars in Millions) |
East Group |  | $ | 8,738 |  |  | $ | 8,452 |
West Group |  |  | 8,034 |  |  |  | 7,941 |
Specialties |  |  | 902 |  |  |  | 269 |
Total reportable segments |  |  | 17,674 |  |  |  | 16,662 |
Corporate |  |  | 979 |  |  |  | 1,508 |
Total |  | $ | 18,653 |  |  | $ | 18,170 |
The following tables display property additions for the Company’s reportable segments.
|  | Nine Months Ended |
|  | September 30, |
|  | 2025 |  |  | 2024 |
Total property additions, including the impact of acquisitions: |  | (Dollars in Millions) |
East Group |  | $ | 307 |  |  | $ | 2,219 |
West Group |  |  | 173 |  |  |  | 683 |
Specialties |  |  | 365 |  |  |  | 24 |
Total reportable segments |  |  | 845 |  |  |  | 2,926 |
Corporate |  |  | 18 |  |  |  | 12 |
Total |  | $ | 863 |  |  | $ | 2,938 |
|  | Nine Months Ended |
|  | September 30, |
|  | 2025 |  |  | 2024 |
Property additions through business combinations: |  | (Dollars in Millions) |
East Group |  | $ | — |  |  | $ | 2,052 |
West Group |  |  | 2 |  |  |  | 472 |
Specialties |  |  | 337 |  |  |  | — |
Total reportable segments |  |  | 339 |  |  |  | 2,524 |
Corporate |  |  | — |  |  |  | — |
Total |  | $ | 339 |  |  | $ | 2,524 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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