XML 48 R26.htm IDEA: XBRL DOCUMENT v3.20.4
Segment Information
 12 Months Ended
Jan. 02, 2021
Segment Reporting Information [Line Items]  
Segment Information Segment Information
 
The Company has three operating segments: West; East; and Cement, which are its reporting segments. These segments are consistent with the Company’s management reporting structure. The operating results of each segment are regularly reviewed and evaluated by the Chief Executive Officer, the Company’s Chief Operating Decision Maker (“CODM”). The CODM primarily evaluates the performance of its segments and allocates resources to them based on a segment profit metric that we call Adjusted EBITDA, which is computed as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, accretion, share-based compensation, and transaction costs, as well as various other non-recurring, non-cash amounts.
 
The West and East segments have several acquired subsidiaries that are engaged in various activities including quarry mining, aggregate production and contracting. The Cement segment is engaged in the production of Portland cement. Assets employed by each segment include assets directly identified with those operations. Corporate assets consist primarily of cash, property, plant and equipment for corporate operations and other assets not directly identifiable with a reportable business segment. The accounting policies applicable to each segment are consistent with those used in the consolidated financial statements.
 
The following tables display selected financial data for the Company’s reportable business segments as of and for the years ended January 2, 2021, December 28, 2019 and December 29, 2018: 
 202020192018
Revenue*:   
West$1,262,196 $1,122,338 $1,117,066 
East799,633 809,098 703,147 
Cement270,622 290,704 280,789 
Total revenue$2,332,451 $2,222,140 $2,101,002 
______________________
*       Intercompany sales are immaterial and the presentation above only reflects sales to external customers.
 202020192018
Income from operations before taxes$129,055 $78,224 $96,077 
Interest expense103,595 116,509 116,548 
Depreciation, depletion and amortization218,682 214,886 203,305 
Accretion2,638 2,216 1,605 
Loss on debt financings4,064 14,565 149 
Tax receivable agreement (benefit) expense(7,559)16,237 (22,684)
Gain on sale of business— — (12,108)
Transaction costs2,747 2,222 4,238 
Non-cash compensation28,857 20,403 25,378 
Other2,957 (3,800)(6,247)
Total Adjusted EBITDA$485,036 $461,462 $406,261 
Total Adjusted EBITDA by Segment:
West$271,052 $204,964 $188,999 
East162,275 187,625 138,032 
Cement92,956 103,438 111,394 
Corporate and other(41,247)(34,565)(32,164)
Total Adjusted EBITDA$485,036 $461,462 $406,261 
 
 202020192018
Purchases of property, plant and equipment   
West$67,500 $71,397 $120,657 
East92,528 77,894 64,384 
Cement15,071 25,691 28,036 
Total reportable segments175,099 174,982 213,077 
Corporate and other2,150 2,513 7,608 
Total purchases of property, plant and equipment$177,249 $177,495 $220,685 
 
 202020192018
Depreciation, depletion, amortization and accretion:   
West$93,866 $93,256 $91,794 
East86,205 81,403 75,433 
Cement37,267 38,447 35,061 
Total reportable segments217,338 213,106 202,288 
Corporate and other3,982 3,996 2,622 
Total depreciation, depletion, amortization and accretion$221,320 $217,102 $204,910 
 
 202020192018
Total assets:   
West$1,503,382 $1,379,684 $1,370,501 
East1,303,742 1,288,835 1,253,640 
Cement850,835 868,528 877,586 
Total reportable segments3,657,959 3,537,047 3,501,727 
Corporate and other650,052 530,509 355,914 
Total$4,308,011 $4,067,556 $3,857,641 
Summit Materials, LLC  
Segment Reporting Information [Line Items]  
Segment Information Segment Information
 
The Company has three operating segments: West; East; and Cement, which are its reporting segments. These segments are consistent with the Company’s management reporting structure. The operating results of each segment are regularly reviewed and evaluated by the Chief Executive Officer, the Company’s Chief Operating Decision Maker (“CODM”). The CODM primarily evaluates the performance of its segments and allocates resources to them based on a segment profit metric that we call Adjusted EBITDA, which is computed as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, accretion, share-based compensation, and transaction costs, as well as various other non-recurring, non-cash amounts.
 
The West and East segments have several acquired subsidiaries that are engaged in various activities including quarry mining, aggregate production and contracting. The Cement segment is engaged in the production of Portland cement. Assets employed by each segment include assets directly identified with those operations. Corporate assets consist primarily of cash, property, plant and equipment for corporate operations and other assets not directly identifiable with a reportable business segment. The accounting policies applicable to each segment are consistent with those used in the consolidated financial statements.
 
The following tables display selected financial data for the Company’s reportable business segments as of and for the years ended January 2, 2021, December 28, 2019 and December 29, 2018:
 
 202020192018
Revenue*:
West$1,262,196 $1,122,338 $1,117,066 
East799,633 809,098 703,147 
Cement270,622 290,704 280,789 
Total revenue$2,332,451 $2,222,140 $2,101,002 
______________________
*   Intercompany sales are immaterial and the presentation above only reflects sales to external customers.
 202020192018
Income from operations before taxes$121,800 $94,982 $74,110 
Interest expense103,291 115,988 115,831 
Depreciation, depletion and amortization218,682 214,886 203,305 
Accretion2,638 2,216 1,605 
Loss on debt financings4,064 14,565 149 
Gain on sale of business— — (12,108)
Transaction costs2,747 2,222 4,238 
Non-cash compensation28,857 20,403 25,378 
Other2,957 (3,800)(6,247)
Total Adjusted EBITDA$485,036 $461,462 $406,261 
Total Adjusted EBITDA by Segment:
West$271,052 $204,964 $188,999 
East162,275 187,625 138,032 
Cement92,956 103,438 111,394 
Corporate and other(41,247)(34,565)(32,164)
Total Adjusted EBITDA$485,036 $461,462 $406,261 
 
 202020192018
Purchases of property, plant and equipment
West$67,500 $71,397 $120,657 
East92,528 77,894 64,384 
Cement15,071 25,691 28,036 
Total reportable segments175,099 174,982 213,077 
Corporate and other2,150 2,513 7,608 
Total purchases of property, plant and equipment$177,249 $177,495 $220,685 
 
 202020192018
Depreciation, depletion, amortization and accretion:
West$93,866 $93,256 $91,794 
East86,205 81,403 75,433 
Cement37,267 38,447 35,061 
Total reportable segments217,338 213,106 202,288 
Corporate and other3,982 3,996 2,622 
Total depreciation, depletion, amortization and accretion$221,320 $217,102 $204,910 
 
 202020192018
Total assets:
West$1,503,382 $1,379,684 $1,370,501 
East1,303,742 1,288,835 1,253,640 
Cement850,835 868,528 877,586 
Total reportable segments3,657,959 3,537,047 3,501,727 
Corporate and other419,175 319,176 131,517 
Total$4,077,134 $3,856,223 $3,633,244