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ACQUISITION | 6 Months Ended
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Sep. 30, 2024
Business Combinations [Abstract] |
ACQUISITION | (C) ACQUISITION On August 9, 2024, we purchased the assets of an aggregates operation in Battletown, Kentucky (the Acquisition), which was accounted for under the acquisition method. The purchase price of the Acquisition was approximately $24.9 million. The purchase price allocation has not yet been finalized. The purchase price was funded through borrowings under our Revolving Credit Facility. Operations related to the Acquisition are included in the Concrete and Aggregates business in our segment reporting from August 9, 2024, through September 30, 2024. The following table summarizes the preliminary allocation of the purchase price to the fair value of assets acquired and liabilities assumed (based on Level 3 inputs) as of September 30, 2024:
|  | Estimated Fair Value |
Inventory |  | $ | 1,322 |
Property, Plant, and Equipment |  |  | 16,815 |
Lease Right-of-Use Assets |  |  | 757 |
Intangible Assets |  |  | 2,500 |
Accrued Liabilities |  |  | (71 | )
Lease Obligations |  |  | (757 | )
Goodwill |  |  | 4,315 |
Total Estimated Purchase Price |  | $ | 24,881 |
The estimated useful lives assigned to Property, Plant, and Equipment range from 5 to 30 years, while the estimated useful lives assigned to Intangible Assets are approximately 15 years. All goodwill generated from the Acquisition is deductible for income tax purposes. The following table presents the Revenue and Operating Loss related to the Acquisition that has been included in our Consolidated Statement of Earnings from August 9, 2024, through September 30, 2024.
|  | For the Three and Six Months Ended September 30, |
|  | 2024 |
|  | (dollars in thousands) |
Revenue |  | $ | 1,735 |
Operating Loss |  | $ | (346 | )
Operating Loss for the three and six months ended September 30, 2024, was affected by approximately $0.4 million and $0.7 million related to depreciation and amortization and the recording of acquired inventories at fair value, respectively.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
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