ACQUISITION

6 Months Ended

Sep. 30, 2024

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.