XML 69 R28.htm IDEA: XBRL DOCUMENT
v3.25.1

Provisions | 12 Months Ended
--- | ---
Dec. 31, 2024
Provisions [abstract] |
Provisions | 21. Provisions The components of provisions at December 31, 2024 are as follows:
|  |  |  | Income Statement Charges |  |  |  |  |  |
|  | Balance at |  | Operating |  | Finance |  | Cash |  | Other |  | Balance at
Provision Description |  | 1/1/24 |  | Expenses |  | Cost |  | Payments |  | Adjustments |  | 12/31/24
Restoration | a | $ | 17,675 |  |  | $ | (4,030) |  |  | $ | 826 |  |  | $ | (213) |  |  | $ | (492) |  |  | $ | 13,766 |
Environmental | a | 3,087 |  |  | (1,563) |  |  | 33 |  |  | (29) |  |  | (886) |  |  | 642 |
Equipment removal | a | 13,156 |  |  | (77) |  |  | 364 |  |  | 155 |  |  | (2,022) |  |  | 11,576 |
Insurance reserves | b | 24,990 |  |  | 41,374 |  |  | 808 |  |  | (43,104) |  |  | (918) |  |  | 23,150 |
Lease return obligations | c | 6,488 |  |  | 313 |  |  | 278 |  |  | — |  |  | 2,814 |  |  | 9,893 |
Sales and use tax | d | 358 |  |  | 197 |  |  | — |  |  | — |  |  | — |  |  | 555 |
Litigation | e | — |  |  | — |  |  | — |  |  | — |  |  | 1,425 |  |  | 1,425 |
Total |  | $ | 65,754 |  |  | $ | 36,214 |  |  | $ | 2,309 |  |  | $ | (43,191) |  |  | $ | (79) |  |  | $ | 61,007 |
The components of provisions at December 31, 2023 are as follows:
|  |  |  | Income Statement Charges |  |  |  |  |  |
|  | Balance at |  | Operating |  | Finance |  | Cash |  | Other |  | Balance at
Provision Description |  | 1/1/23 |  | Expenses |  | Cost |  | Payments |  | Adjustments |  | 12/31/23
Restoration | a | $ | 10,884 |  |  | $ | 1,921 |  |  | $ | 464 |  |  | $ | — |  |  | $ | 4,406 |  |  | $ | 17,675 |
Environmental | a | 1,187 |  |  | 1,888 |  |  | 40 |  |  | (28) |  |  | — |  |  | 3,087 |
Equipment removal | a | 9,235 |  |  | (215) |  |  | 331 |  |  | (95) |  |  | 3,900 |  |  | 13,156 |
Insurance reserves | b | 21,385 |  |  | 38,448 |  |  | 878 |  |  | (35,721) |  |  | — |  |  | 24,990 |
Lease return obligations | c | 4,497 |  |  | 317 |  |  | 100 |  |  | — |  |  | 1,574 |  |  | 6,488 |
Sales and use tax | d | 538 |  |  | (180) |  |  | — |  |  | — |  |  | — |  |  | 358 |
Total |  | $ | 47,726 |  |  | $ | 42,179 |  |  | $ | 1,813 |  |  | $ | (35,844) |  |  | $ | 9,880 |  |  | $ | 65,754 |
a.These provisions represent the present value of the estimated costs to reclaim quarry sites and other similar post-closure obligations for owned and leased properties. It is expected that this amount will be used over the next 2 to 50 years. The Company estimates its ultimate liability using detailed engineering calculations that consider the amount and timing of the future cash flows. Future cash flows are determined by applying inflation rates to the estimated current cost of reclamation. The present value of these future cash flows is determined by applying discount rates consistent with the time horizons of the expected future cash flow. Discount rates are based on U.S. treasury bonds with maturities similar to the duration of the obligation. An annual review of restoration, environmental and equipment removal obligations are conducted by plant management and environmental teams and is focused on estimated costs, updated regulations, and changes in contractual obligations. More technical quarry and sand mine reclamation evaluations are performed periodically and include a precise evaluation of quarry conditions, exploration of new technologies and consultation with third-party experts. 21. Provisions (continued) b.This provision represents the expected costs of claims payments related to risk and workers’ compensation claims excluding any potential recovery from insurance coverage, and the Company sponsored health insurance costs. The Company estimates its ultimate liability using third party experts that consider the amount and timing of the future cash flows. The present value of these future cash flows is determined by applying discount rates consistent with the time horizons of the expected future cash flow. Discount rates are based on U.S. treasury bonds with maturities similar to the duration of the obligation. c.This provision represents the amount of expected costs to bring leased equipment to return conditions and/or locations required in lease agreement. The Company estimates its ultimate liability using its best estimate that considers the amount and timing of the future cash flows. The present value of these future cash flows is determined by applying discount rates consistent with the time horizons of the expected future cash flow. Discount rates are based on U.S. treasury bonds with maturities similar to the duration of the obligation. d.This provision represents the amount of expected settlements for sales and use tax audits in states where the Company operates. It is expected that this amount will be utilized within 2 to 5 years. e.This provision represents a financial reserve set aside to cover potential legal costs, settlements, or damages from lawsuits related to defective materials or other contractual disputes. It is recognized as a liability in financial statements when there is a legal obligation, payment is probable, and the cost can be reasonably estimated. During the years ended December 31, 2024, 2023, and 2022, the Company increased provisions by the net amounts of $2,309, $1,813, and $976, respectively, due to the passage of time. Accretion is included in finance cost in the Consolidated Statements of Income. The current and non-current portions of the total provisions are follows:
| 2024 |  | 2023
Current portion of provisions | $ | 10,081 |  |  | $ | 10,452 |
Non-current portion of provisions | 50,926 |  |  | 55,302 |
Total | $ | 61,007 |  |  | $ | 65,754 |

X
- Definition The disclosure of provisions. [Refer: Provisions] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfProvisionsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_ProvisionsAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration