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Revenue
 12 Months Ended
Dec. 31, 2023
Revenue Recognition and Deferred Revenue [Abstract]  
Revenue
2. Revenue
The Company disaggregates revenue based on its operating and reportable segments. The Company’s reportable segments are: (1) Americas Materials Solutions, (2) Americas Building Solutions, (3) Europe Materials Solutions, and (4) Europe Building Solutions.
Revenue is disaggregated by principal activities and products and by primary geographic market. Business lines are reviewed and evaluated as follows: (1) Essential Materials, (2) Road Solutions, (3) Building & Infrastructure Solutions, and (4) Outdoor Living Solutions.
The vertically integrated Essential Materials businesses manufacture and supply aggregates and cement for use in a range of construction and industrial applications.
Road Solutions support the manufacturing, installation and maintenance of public highway infrastructure projects and commercial infrastructure.
Building & Infrastructure Solutions connect, protect and transport critical water, energy and telecommunications infrastructure and deliver complex commercial building projects.
Outdoor Living Solutions integrate specialized materials, products and design features to enhance the quality of private and public spaces.

For the Year Ended December 31, 2023
in $ millionsAmericas Materials SolutionsAmericas Building SolutionsEurope Materials SolutionsEurope Building SolutionsTotal
Principal activities and products
Essential Materials4,583–4,876–9,459
Road Solutions (i)10,852–4,814–15,666
Building & Infrastructure Solutions (ii)–2,524–2,1744,698
Outdoor Living Solutions–4,493–6335,126
Total revenues15,4357,0179,6902,80734,949


For the Year Ended December 31, 2022
in $ millionsAmericas Materials SolutionsAmericas Building SolutionsEurope Materials SolutionsEurope Building SolutionsTotal
Principal activities and products
Essential Materials4,160–4,625–8,785
Road Solutions (i)10,164–4,724–14,888
Building & Infrastructure Solutions (ii)–2,379–2,2524,631
Outdoor Living Solutions–3,809–6104,419
Total revenues14,3246,1889,3492,86232,723


For the Year Ended December 31, 2021
in $ millionsAmericas Materials SolutionsAmericas Building SolutionsEurope Materials SolutionsEurope Building SolutionsTotal
Principal activities and products
Essential Materials3,833–4,665–8,498
Road Solutions (i)8,574–4,724–13,298
Building & Infrastructure Solutions (ii)–1,464–2,1453,609
Outdoor Living Solutions–3,164–6373,801
Total revenues12,4074,6289,3892,78229,206

(i) Revenue from contracts with customers in the Road Solutions principal activities and products category that is recognized over time for the years ended     December 31 were:
in $ millions202320222021
Americas Materials Solutions6,1465,7914,662
Europe Materials Solutions2,0041,8141,801
Total revenue from contracts with customers8,1507,6056,463
(ii) Revenue from contracts with customers in the Building & Infrastructure Solutions principal activities and products category that is recognized over time for the years ended December 31 were:
in $ millions202320222021
Americas Building Solutions707881
Europe Building Solutions573521475
Total revenue from contracts with customers643599556

For the Year Ended December 31, 2023
in $ millionsAmericas Materials SolutionsAmericas Building SolutionsEurope Materials SolutionsEurope Building SolutionsTotal
Primary geographic markets
Republic of Ireland––916–916
United Kingdom––4,0902224,312
Rest of Europe (i)––4,2302,2566,486
United States14,0886,692–15020,930
Rest of World (ii)1,3473254541792,305
Total revenues15,4357,0179,6902,80734,949


For the Year Ended December 31, 2022
in $ millionsAmericas Materials SolutionsAmericas Building SolutionsEurope Materials SolutionsEurope Building SolutionsTotal
Primary geographic markets
Republic of Ireland––801–801
United Kingdom––4,0032384,241
Rest of Europe (i)–33,9922,2986,293
United States13,0505,860–17819,088
Rest of World (ii)1,2743255531482,300
Total revenues14,3246,1889,3492,86232,723


For the Year Ended December 31, 2021
in $ millionsAmericas Materials SolutionsAmericas Building SolutionsEurope Materials SolutionsEurope Building SolutionsTotal
Primary geographic markets
Republic of Ireland––706–706
United Kingdom––3,9792204,199
Rest of Europe (i)–44,0512,2616,316
United States11,1724,293–15315,618
Rest of World (ii)1,2353316531482,367
Total revenues12,4074,6289,3892,78229,206

(i) The Rest of Europe principally includes Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Luxembourg, the Netherlands, Poland, Romania, Serbia, Slovakia, Spain, Sweden, Switzerland and Ukraine.
(ii)    The Rest of World principally includes Australia, Brazil, Canada and the Philippines.
Contract assets were $716 million and $606 million and contract liabilities were $439 million and $344 million, at December 31, 2023 and 2022, respectively. The increase in contract assets was primarily attributed to revenue recognized on certain contracts partially offset by the timing of billings. The increase in contract liabilities was due to the timing of advance payments and revenue recognized during the period. The Company recognized revenue of $308 million and $308 million for the years ended December 31, 2023 and 2022, respectively, which was previously included in the contract liability balance at December 31, 2022 and 2021, respectively.
Contract assets include unbilled revenue and retentions held by customers in respect of construction contracts at December 31, 2023 and 2022 amounting to $471 million and $245 million, and $402 million and $204 million respectively. Unbilled receivables represent the estimated value of unbilled work for projects with performance obligations recognized over time. Retentions represent amounts that have been billed to customers but payment is withheld until final acceptance of the performance obligation by the customer. Retentions that have been billed, but are not due until completion of performance and acceptance by customers, are generally expected to be collected within one year. The Company applies the practical expedient and does not adjust any of its transaction prices for the time value of money.
On December 31, 2023, the Company had $3,725 million of transaction price allocated to remaining performance obligations. The majority of open contracts at December 31, 2023 will close and revenue will be recognized within 12 months of the balance sheet date.
Revenue from sales to equity method investments for the years ended December 31, 2023, 2022 and 2021 were $221 million, $237 million, and $199 million, respectively.