XML 39 R14.htm IDEA: XBRL DOCUMENT v3.25.0.1
Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company's operating segments are identified on the basis of information that is reviewed by our chief operating decision maker, the Chief Executive Officer, to make decisions about resources to be allocated and assess its performance. The Company reports operating results in three principal business segments:
Construction Products. The Construction Products segment primarily produces and sells natural and recycled aggregates, specialty materials, asphalt mix, and construction site support equipment, including trench shields and shoring products.
Engineered Structures. The Engineered Structures segment primarily manufactures and sells steel and concrete structures for infrastructure businesses, including utility structures for electricity transmission and distribution, structural wind towers, traffic and lighting structures, and telecommunication structures. These products share similar manufacturing competencies and steel sourcing requirements and can be manufactured across our North American footprint. Historically, the segment manufactured storage and distribution tanks. In October 2022, the Company completed the divestiture of its storage tanks business. See Note 2 Acquisitions and Divestitures.
Transportation Products. The Transportation Products segment primarily manufactures and sells inland barges, fiberglass barge covers, winches, marine hardware and other transportation and industrial equipment. In August 2024, the Company completed the sale of its steel components business, which manufactured and sold steel components for railcars. See Note 2 Acquisitions and Divestitures.
The financial information for these segments is shown in the tables below. We operate principally in North America.
Year Ended December 31, 2024
Construction ProductsEngineered StructuresTransportation ProductsCorporateEliminationsConsolidated
Revenues$1,105.1 $1,047.3 $417.6 $— $(0.1)$2,569.9 
Operating Costs
Cost of revenues864.0 847.5 343.3 — (0.1)2,054.7 
Selling, general, and administrative116.2 88.4 22.5 92.9 — 320.0 
Gain on disposition of property, plant, equipment, and other assets(9.8)(0.5)— — — (10.3)
(Gain) loss on sale of businesses(5.0)(14.5)21.6 — — 2.1 
Impairment charge5.8 — — — — 5.8 
Operating profit (loss)$133.9 $126.4 $30.2 $(92.9)$— $197.6 
Depreciation, depletion, and amortization$134.7 $45.4 $12.6 $2.3 $— $195.0 
Assets$3,304.9 $1,191.5 $149.6 $269.5 $— $4,915.5 
Capital Expenditures$111.7 $64.4 $11.0 $2.6 $— $189.7 
 Year Ended December 31, 2023
Construction ProductsEngineered StructuresTransportation ProductsCorporateEliminationsConsolidated
Revenues$1,001.3 $873.5 $433.5 $— $(0.4)$2,307.9 
Operating Costs
Cost of revenues783.9 718.3 362.3 — (0.4)1,864.1 
Selling, general, and administrative107.0 65.9 25.4 62.8 — 261.1 
Gain on disposition of property, plant, equipment, and other assets(28.2)— — — — (28.2)
Gain on sale of storage tanks business—(6.4)—— — (6.4)
Operating profit (loss)$138.6 $95.7 $45.8 $(62.8)$— $217.3 
Depreciation, depletion, and amortization$111.7 $26.6 $16.0 $5.2 $— $159.5 
Assets$2,043.1 $1,063.4 $308.2 $163.2 $— $3,577.9 
Capital Expenditures$89.9 $97.8 $13.9 $1.9 $— $203.5 

Year Ended December 31, 2022
Construction ProductsEngineered StructuresTransportation ProductsCorporateEliminationsConsolidated
Revenues$923.5 $1,002.0 $317.3 $— $— $2,242.8 
Operating Costs
Cost of revenues736.3 812.4 283.0 — — 1,831.7 
Selling, general, and administrative100.4 73.6 22.8 66.0 — 262.8 
Gain on disposition of property, plant, equipment, and other assets(9.7)(2.0)— — — (11.7)
Gain on sale of storage tanks business— (189.0)— — — (189.0)
Operating profit (loss)$96.5 $307.0 $11.5 $(66.0)$— $349.0 
Depreciation, depletion, and amortization$102.7 $30.5 $15.8 $5.1 $— $154.1 
Assets$1,895.7 $956.1 $264.0 $224.8 $— $3,340.6 
Capital Expenditures$84.6 $44.5 $8.8 $0.1 $— $138.0 
Corporate assets are composed of cash and cash equivalents, certain property, plant, and equipment, and other assets. Capital expenditures exclude amounts paid for business acquisitions, but include amounts paid for the acquisition of land and reserves in our Construction Products segment.
Revenues from one customer included in the Engineered Structures segment constituted 10.8%, 8.1%, and 9.3% of consolidated revenues for the years ended December 31, 2024, 2023, and 2022, respectively.
Revenues and operating profit (loss) for our U.S. and foreign operations for the years ended December 31, 2024, 2023, and 2022 are presented below. Our primary foreign operations are in Mexico, while Canadian operations are not significant in relation to the Consolidated Financial Statements. The decreases in foreign operations revenue from 2022 to 2023 are largely due to the sale of the storage tanks business. The operating profits presented below exclude the gain on sale of the storage tanks business. See Note 2 Acquisitions and Divestitures.
Year Ended December 31,
202420232022
(in millions)
U.S.:
Revenues:
External$2,556.2 $2,271.5 $2,159.8 
Intercompany47.6 40.5 25.0 
$2,603.8 $2,312.0 $2,184.8 
Operating profit (loss)$191.8 $208.5 $153.9 
Foreign operations:
Revenues:
External$13.7 $36.4 $83.0 
Intercompany77.8 62.4 116.1 
$91.5 $98.8 $199.1 
Operating profit (loss)$(1.1)$2.4 $6.1 
Total assets and long-lived assets for our U.S. and foreign operations as of December 31, 2024 and 2023 are presented below:
Total AssetsLong-Lived Assets
December 31,
2024202320242023
(in millions)
U.S.$4,762.6 $3,423.4 $2,024.9 $1,241.2 
Foreign operations$152.9 $154.5 $104.5 $95.1