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ACQUISITION | 3 Months Ended
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Jun. 30, 2025
Business Combinations [Abstract] |
ACQUISITION | (C) ACQUISITION On January 7, 2025, we purchased Bullskin Stone & Lime, LLC, an aggregates business located in Western Pennsylvania (the Acquisition) for approximately $150.0 million, which will be accounted for under the acquisition method. The purchase price was funded through borrowings under our Revolving Credit Facility. Operations related to the Acquisition are included in the Concrete and Aggregates segment in our segment reporting. 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 of the fair value hierarchy) as of June 30, 2025. Adjustments to the preliminary purchase price allocation could be significant, particularly with respect to Intangible Assets and Property, Plant, and Equipment.
|  | Fair Value (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 |  |  |  | 71,543 |
Total Purchase Price |  | $ |  | 149,947 |
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 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 (in years) |  |  | 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 Earnings related to the Acquisition that have been included in our Consolidated Statement of Earnings for the three months ended June 30, 2025.
|  | For the Three Months Ended June 30, 2025 |
|  | (dollars in thousands) |
Revenue |  | $ |  | 7,202 |
Operating Earnings |  | $ |  | 1,634 |
Included in Operating Earnings shown above is approximately $1.7 million related to depreciation and amortization.

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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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