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ACQUISITION | 9 Months Ended
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Dec. 31, 2024
Business Combinations [Abstract] |
ACQUISITION | (C) ACQUISITION On August 9, 2024, we purchased the assets of an aggregates operation in Battletown, Kentucky (the Kentucky Acquisition), which was accounted for under the acquisition method. The purchase price of the Kentucky 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 Kentucky Acquisition are included in the Concrete and Aggregates business in our segment reporting from August 9, 2024, through December 31, 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 December 31, 2024:
|  | Estimated Fair Value |
Inventory |  | $ | 1,067 |
Property, Plant, and Equipment |  |  | 16,815 |
Lease Right-of-Use Assets |  |  | 757 |
Intangible Assets |  |  | 1,309 |
Accrued Liabilities |  |  | (71 | )
Lease Obligations |  |  | (757 | )
Goodwill |  |  | 5,761 |
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 Kentucky Acquisition is deductible for income tax purposes. The following table presents the Revenue and Operating Loss related to the Kentucky Acquisition that has been included in our Consolidated Statement of Earnings from August 9, 2024, through December 31, 2024.
|  | For the Three Months Ended |  |  | For the Nine Months Ended |
|  | December 31, 2024 |
|  | (dollars in thousands) |
Revenue |  | $ | 3,086 |  |  | $ | 4,821 |
Operating Loss |  | $ | (296 | ) |  | $ | (642 | )
Operating Loss for the three and nine months ended December 31, 2024, was affected by approximately $0.6 million and $1.0 million, respectively, related to depreciation and amortization. Operating Loss for the nine months ended December 31, 2024, was affected by approximately $0.7 million related to the recording of acquired inventories at fair value. Subsequent Acquisition On January 7, 2025, we purchased Bullskin Stone & Lime, LLC, a pure-play aggregates business located in Western Pennsylvania (the Pennsylvania Acquisition), which will be accounted for under the acquisition method. The purchase price of the Pennsylvania Acquisition was approximately $152.5 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 will be included in the Concrete and Aggregates business in our segment reporting.

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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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- References No definition available. + Details
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