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Segment information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment information
14. Segment information
The Company has the following four operating and reportable segments:
Americas Materials Solutions;
Americas Building Solutions;
Europe Materials Solutions; and
Europe Building Solutions.
The Americas Materials Solutions segment provides solutions for the construction and maintenance of public infrastructure, commercial and residential buildings in North America. The primary materials produced by this segment include aggregates, cement, readymixed concrete and asphalt. This segment also provides paving and construction services for customers.
The Americas Building Solutions segment manufactures, supplies and delivers solutions for the built environment in communities across North America. Our subsidiaries within this segment offer building and infrastructure solutions serving complex critical utility infrastructure (such as water, energy, transportation and telecommunications projects) and outdoor living solutions for enhancing private and public spaces.
The Europe Materials Solutions segment provides solutions for the construction of public infrastructure, commercial and residential buildings to customers in construction markets primarily in Europe. The primary materials produced in this segment include aggregates, cement, readymixed concrete, asphalt and concrete products.
The Europe Building Solutions segment combines materials, products and services to produce a wide range of architectural and infrastructural solutions for use in the building and renovation of critical utility infrastructure, commercial and residential buildings, and outdoor living spaces. This business serves the growing demand across the construction value chain for innovative and value-added products and services.
The Company’s reportable segments are the same as the Company’s operating segments and correspond with how the Chief Operating Decision Maker (CODM) regularly reviews financial information to allocate resources and assess performance under the Company’s organizational structure.
The CODM monitors the operating results of segments separately in order to allocate resources between segments and to assess performance. Segment performance is evaluated using Adjusted EBITDA. Given that Interest expense and Income tax expense are managed on a centralized basis, these items are not allocated between operating segments for the purposes of the information presented to the CODM and are accordingly omitted from the detailed segmental analysis below. There are no asymmetrical allocations to reporting segments which would require disclosure.
Adjusted EBITDA is defined as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, loss on impairments, gain/loss on divestitures and unrealized gain/loss on investments, income/loss from equity method investments, substantial acquisition-related costs and pension expense/income excluding current service cost component.
The key performance measures for the Company’s reportable segments were:
Revenues
Three months endedNine months ended
September 30September 30
in $ millions2024202320242023
Americas Materials Solutions5,299 5,080 11,907 11,139 
Americas Building Solutions1,757 1,738 5,566 5,547 
Europe Materials Solutions2,795 2,617 7,212 7,409 
Europe Building Solutions664 693 2,017 2,169 
Total revenues10,515 10,128 26,702 26,264 


Adjusted EBITDA
Three months endedNine months ended
September 30September 30
in $ millions2024202320242023
Americas Materials Solutions1,4841,2842,6922,184
Americas Building Solutions3553911,1391,166
Europe Materials Solutions5534461,1421,029
Europe Building Solutions6269181211
Total Adjusted EBITDA2,4542,1905,1544,590
Three months endedNine months ended
September 30September 30
in $ millions2024202320242023
Adjusted EBITDA2,4542,1905,1544,590
Depreciation, depletion and amortization(467)(402)(1,288)(1,187)
Interest income3362112138
Interest expense(164)(131)(452)(285)
Gain on divestitures and unrealized gains on investments (i)59–242–
Pension income excluding current service cost component (i)1133
Other interest, net (i)2–1–
Substantial acquisition-related costs(23)–(45)–
Income from operations before income tax expense and income from equity method investments1,8951,7203,7273,259
(i) Gain on divestitures and unrealized gains on investments, pension income excluding current service cost component and other interest, net have been included in Other nonoperating income, net in the Condensed Consolidated Statements of Income.

Depreciation, depletion and amortization for each of the segments were:
Three months endedNine months ended
September 30September 30
in $ millions2024202320242023
Americas Materials Solutions213195611576
Americas Building Solutions8573249221
Europe Materials Solutions145 112 357324 
Europe Building Solutions24 22 7166 
Total depreciation, depletion and amortization467 402 1,2881,187