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Business Combinations, Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale (Tables)
 9 Months Ended
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

 

 

$

—