XML 29 R13.htm IDEA: XBRL DOCUMENT
v3.25.1

ACQUISITIONS | 12 Months Ended
--- | ---
Mar. 31, 2025
Business Combinations [Abstract] |
ACQUISITIONS | (B) ACQUISITIONS Western Pennsylvania Acquisition On January 7, 2025, we purchased Bullskin Stone & Lime, LLC, an aggregates business located in Western Pennsylvania (the Western Pennsylvania Acquisition), which will be accounted for under the acquisition method. The purchase price of the Pennsylvania Acquisition was approximately $150.0 million, subject to customary post-closing adjustments. The purchase price was funded through borrowings under our Revolving Credit Facility. Operations related to the Pennsylvania Acquisition are included in the Concrete and Aggregates business in our segment reporting from January 7, 2025, through March 31, 2025. 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 March 31, 2025. Adjustments to the preliminary purchase price allocation could be significant, particularly with respect to Intangible Assets and Property, Plant, and Equipment.
|  | (dollars in thousands) |  |
Accounts Receivable |  | $ |  | 1,443 |  |
Inventories |  |  |  | 3,354 |  |
Prepaid and Other Current Assets |  |  |  | 229 |  |
Property, Plant, and Equipment |  |  |  | 35,097 |  |
Intangible Assets |  |  |  | 39,400 |  |
Accounts Payable and Accrued Liabilities |  |  |  | (327 | ) |
Other Long-term Liabilities |  |  |  | (792 | ) |
Total Net Assets Acquired |  |  |  | 78,404 |  |
Goodwill |  |  |  | 71,565 |  |
Total Purchase Price |  | $ |  | 149,969 |  |
The estimated useful lives assigned to Property, Plant, and Equipment range from 5 to 30 years. Goodwill represents the excess purchase price over the fair value of the assets acquired and the liabilities assumed. The Goodwill was generated by the availability of co-product sales and the opportunity associated with the expansion of our Aggregates business to the Western Pennsylvania region of the United States. All Goodwill generated from the Western Pennsylvania Acquisition is deductible for income tax purposes. The following table is a summary of the fair value estimates of the identifiable intangible assets and their weighted-average useful lives:
|  | Weighted-Average Life |  |  | Estimated Fair Value (dollars in thousands) |
Customer Relationships |  |  | 15 |  |  |  |  | 38,900 |
Trade Name and Technology |  |  | 5 |  |  |  |  | 500 |
Total Intangible Assets |  |  |  |  | $ |  | 39,400 |
The following table presents the Revenue and Operating Loss related to the Western Pennsylvania Acquisition that has been included in our Consolidated Statement of Earnings from January 7, 2025 through March 31, 2025.
|  | For the Year Ended March 31, 2025 |
|  | (dollars in thousands) |
Revenue |  | $ |  | 4,111 |
Operating Loss |  | $ |  | (1,321 | )
Included in Operating Loss shown above is approximately $1.7 million and $1.9 million related to depreciation and amortization and the recording of inventories at fair value, respectively. Northern Kentucky Acquisition On August 9, 2024, we purchased the assets of an aggregates operation in Battletown, Kentucky (the Northern Kentucky Acquisition), which was accounted for under the acquisition method. The purchase price of the Northern Kentucky Acquisition was approximately $24.9 million, which was funded through borrowings under our Revolving Credit Facility. Operations related to the Northern Kentucky Acquisition are included in the Concrete and Aggregates business in our segment reporting from August 9, 2024, through March 31, 2025. The following table summarizes the allocation of the Purchase Price to assets acquired and liabilities assumed:
|  | (dollars in thousands) |  |
Inventory |  | $ |  | 1,067 |  |
Property, Plant, and Equipment |  |  |  | 18,237 |  |
Lease Right-of-Use Assets |  |  |  | 757 |  |
Intangible Assets |  |  |  | 1,309 |  |
Accrued Liabilities |  |  |  | (71 | ) |
Lease Obligations |  |  |  | (757 | ) |
Other Long-term Liabilities |  |  |  | (1,422 | ) |
Total Net Assets Acquired |  |  |  | 19,120 |  |
Goodwill |  |  |  | 5,761 |  |
Total 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 15 years. All goodwill generated from the Northern Kentucky Acquisition is deductible for income tax purposes. The following table presents the Revenue and Operating Loss related to the Northern Kentucky Acquisition that has been included in our Consolidated Statement of Earnings from August 9, 2024 through March 31, 2025.
|  | For the Year Ended March 31, 2025 |
|  | (dollars in thousands) |
Revenue |  | $ |  | 7,487 |
Operating Loss |  | $ |  | (1,012 | )
Included in Operating Loss shown above is approximately $1.7 million and $0.7 million related to depreciation and amortization and the recording of inventories at fair value, respectively.

X
- 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
Name: | us-gaap_BusinessCombinationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration