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Reportable Segment Information | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Reportable Segment Information | Reportable Segment Information Our reportable segments are the same as our operating segments and correspond with how our chief operating decision maker, or decision-making group (our “CODM”), regularly reviews financial information to allocate resources and assess performance. We identified our CODM as our Chief Executive Officer and our Chief Operating Officer. Our reportable segments are: Construction and Materials. Summarized segment information is as follows (in thousands):
Three months ended September 30, | Construction |  | Materials |  | Total
2024 |  |  |  |  |
Total revenue from reportable segments | $ | 1,080,705 |  |  | $ | 297,398 |  |  | $ | 1,378,103 |
Elimination of intersegment revenue | — |  |  | (102,593) |  |  | (102,593) |
Revenue from external customers | $ | 1,080,705 |  |  | $ | 194,805 |  |  | $ | 1,275,510 |
Gross profit | $ | 170,685 |  |  | $ | 32,264 |  |  | $ | 202,949 |
Depreciation, depletion and amortization | $ | 16,979 |  |  | $ | 11,685 |  |  | $ | 28,664 |
2023 |  |  |  |  |
Total revenue from reportable segments | $ | 945,698 |  |  | $ | 245,060 |  |  | $ | 1,190,758 |
Elimination of intersegment revenue | — |  |  | (73,938) |  |  | (73,938) |
Revenue from external customers | $ | 945,698 |  |  | $ | 171,122 |  |  | $ | 1,116,820 |
Gross profit | $ | 137,162 |  |  | $ | 29,481 |  |  | $ | 166,643 |
Depreciation, depletion and amortization | $ | 11,239 |  |  | $ | 7,431 |  |  | $ | 18,670 |
Nine Months Ended September 30, | Construction |  | Materials |  | Total
2024 |  |  |  |  |
Total revenue from reportable segments | $ | 2,593,872 |  |  | $ | 625,570 |  |  | $ | 3,219,442 |
Elimination of intersegment revenue | — |  |  | (189,171) |  |  | (189,171) |
Revenue from external customers | $ | 2,593,872 |  |  | $ | 436,399 |  |  | $ | 3,030,271 |
Gross profit | $ | 362,885 |  |  | $ | 59,060 |  |  | $ | 421,945 |
Depreciation, depletion and amortization | $ | 44,183 |  |  | $ | 33,079 |  |  | $ | 77,262 |
Segment assets as of period end | $ | 604,257 |  |  | $ | 646,654 |  |  | $ | 1,250,911 |
2023 |  |  |  |  |
Total revenue from reportable segments | $ | 2,198,527 |  |  | $ | 523,813 |  |  | $ | 2,722,340 |
Elimination of intersegment revenue | — |  |  | (146,900) |  |  | (146,900) |
Revenue from external customers | $ | 2,198,527 |  |  | $ | 376,913 |  |  | $ | 2,575,440 |
Gross profit | $ | 253,021 |  |  | $ | 49,067 |  |  | $ | 302,088 |
Depreciation, depletion and amortization | $ | 31,232 |  |  | $ | 20,644 |  |  | $ | 51,876 |
Segment assets as of period end | $ | 449,354 |  |  | $ | 421,766 |  |  | $ | 871,120 |
A reconciliation of segment gross profit to consolidated income before income taxes is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Total gross profit from reportable segments | $ | 202,949 |  |  | $ | 166,643 |  |  | $ | 421,945 |  |  | $ | 302,088 |
Selling, general and administrative expenses | 91,650 |  |  | 74,794 |  |  | 249,695 |  |  | 212,479 |
Other costs, net | 8,543 |  |  | 19,843 |  |  | 29,778 |  |  | 37,973 |
Gain on sales of property and equipment, net | (1,542) |  |  | (1,812) |  |  | (4,347) |  |  | (7,793) |
Total other (income) expense, net | (5,148) |  |  | (6,101) |  |  | 16,791 |  |  | 29,573 |
Income before income taxes | $ | 109,446 |  |  | $ | 79,919 |  |  | $ | 130,028 |  |  | $ | 29,856 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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