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Business Combinations, Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale (Tables) | 9 Months Ended
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Sep. 30, 2025
Business Combination [Abstract] |
Summary of Values of Assets Acquired and Liabilities Assumed | The following is a summary of the values of the assets acquired and liabilities assumed as of April 5, 2024 (dollars in millions):
Assets: |  |  |
Inventories |  | $ | 47 |
Property, plant and equipment 1 |  |  | 2,052 |
Intangible assets, other than goodwill |  |  | 19 |
Other assets |  |  | 2 |
Total assets |  |  | 2,120 |
Liabilities: |  |  |
Deferred income taxes |  |  | 234 |
Asset retirement obligations |  |  | 3 |
Other liabilities |  |  | 95 |
Total liabilities |  |  | 332 |
Net identifiable assets acquired |  |  | 1,788 |
Goodwill |  |  | 262 |
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, 2024 |
|  | (Dollars in Millions) |
Revenues |  | $ | 1,889 |  |  | $ | 4,957 |
Net earnings from continuing operations attributable to Martin Marietta |  | $ | 363 |  |  | $ | 1,733 |
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, |  |  | September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | (Dollars in Millions) |
Revenues |  | $ | 242 |  |  | $ | 247 |  |  | $ | 634 |  |  | $ | 655 |
Cost of revenues |  |  | 166 |  |  |  | 161 |  |  |  | 490 |  |  |  | 478 |
Gross profit |  | $ | 76 |  |  | $ | 86 |  |  | $ | 144 |  |  | $ | 177 |
Pretax earnings |  | $ | 68 |  |  | $ | 84 |  |  | $ | 130 |  |  | $ | 170 |
Income tax expense |  |  | 15 |  |  |  | 18 |  |  |  | 29 |  |  |  | 37 |
Earnings from discontinued operations, net of income tax expense |  | $ | 53 |  |  | $ | 66 |  |  | $ | 101 |  |  | $ | 133 |
Cash flow information for the Company's discontinued operations is as follows:
|  | Nine Months Ended |
|  | September 30, |
|  | 2025 |  |  | 2024 |
|  | (Dollars in Millions) |
Net cash provided by operating activities |  | $ | 120 |  |  | $ | 167 |
Additions to property, plant and equipment |  | $ | (74 | ) |  | $ | (88 | )
Proceeds from divestitures and sales of assets |  |  | 1 |  |  |  | 5 |
Net cash used for investing activities |  | $ | (73 | ) |  | $ | (83 | )
Assets and liabilities held for sale are as follows:
|  | September 30, 2025 |  |  | December 31, 2024 |
|  | Continuing Operations |  |  | Discontinued Operations |  |  | Total |  |  | Continuing Operations |
|  | (Dollars in Millions) |
Inventories, net |  | $ | — |  |  | $ | 96 |  |  | $ | 96 |  |  | $ | — |
Investment land |  |  | 11 |  |  |  | — |  |  |  | 11 |  |  |  | 8 |
Property, plant and equipment |  |  | — |  |  |  | 480 |  |  |  | 480 |  |  |  | — |
Goodwill |  |  | — |  |  |  | 374 |  |  |  | 374 |  |  |  | — |
Intangible assets, excluding goodwill |  |  | — |  |  |  | 249 |  |  |  | 249 |  |  |  | — |
Operating lease right-of-use assets |  |  | — |  |  |  | 12 |  |  |  | 12 |  |  |  | — |
Other assets |  |  | — |  |  |  | 2 |  |  |  | 2 |  |  |  | — |
Total current assets held for sale |  | $ | 11 |  |  | $ | 1,213 |  |  | $ | 1,224 |  |  | $ | 8 |
Lease obligations |  | $ | — |  |  | $ | 26 |  |  | $ | 26 |  |  | $ | — |
Asset retirement obligations |  |  | — |  |  |  | 3 |  |  |  | 3 |  |  |  | — |
Other liabilities |  |  | — |  |  |  | 11 |  |  |  | 11 |  |  |  | — |
Total current liabilities held for sale |  | $ | — |  |  | $ | 40 |  |  | $ | 40 |  |  | $ | — |

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