Acquisitions

3 Months Ended

Mar. 31, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

3. Acquisitions

The Company strategically acquires companies in order to increase its footprint and offer products and services that enhance its existing offerings. These acquisitions are accounted for as business combinations using the acquisition method, whereby the purchase price is allocated to the assets acquired and liabilities assumed, based on their estimated fair values at the date of the acquisition with the remaining amount recorded in Goodwill.

During the three months ended March 31, 2025, the Company completed the acquisition of eight companies. The total cash consideration for these acquisitions, net of cash acquired, was $585 million. The estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition dates. The Company expects to finalize the valuation and complete the purchase price allocations as soon as practical but no later than one year from the acquisition dates.

The provisional amounts for assets acquired, liabilities assumed, and consideration related to the acquisitions at March 31, 2025 were:


in $ millions			Total (i)
Identifiable assets acquired and liabilities assumed
Assets
Cash and cash equivalents			1
Accounts receivable, net			46
Inventories			24
Other current assets			3
Property, plant and equipment, net			211

Intangible assets, net			21
Operating lease right-of-use assets, net			11
Total assets			317
Liabilities
Accounts payable			29
Accrued expenses			3
Operating lease liabilities			13


Deferred income tax liabilities			11
Other liabilities			15
Total liabilities			71
Total identifiable net assets at fair value			246
Goodwill			340

Total consideration			586

Consideration satisfied by:
Cash payments			586



Total consideration			586

Acquisitions of businesses, net of cash acquired
Cash consideration			586
Less: cash and cash equivalents acquired			(1)
Total outflow in the Condensed Consolidated Statements of Cash Flows			585

(i) Acquisitions are aggregated on the basis of individual immateriality.

As a result of the acquisitions completed through March 31, 2025, the Company recognized $21 million of amortizable intangible assets and $340 million of goodwill. Goodwill represents the excess of the consideration paid over the fair value of net assets acquired and includes the expected benefit of cost savings and synergies within the Company’s segments and intangible assets that do not qualify for separate recognition. Of the goodwill recognized in respect of the acquisitions completed in the three months ended March 31, 2025, $327 million is expected to be deductible for tax purposes. The amortizable intangible assets will be amortized against earnings over a weighted average of five years.

Acquisition-related costs

Acquisition-related costs have been included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Income. These costs include legal and consulting expenses incurred in connection with completed acquisitions. The Company incurred the following acquisition-related costs:


	Three months ended
	March 31
in $ millions	2025	2024
Acquisition-related costs
Substantial acquisition-related (i)	–	20
Other acquisitions	5	–
Total acquisition-related costs	5	20

(i) Represents expenses associated with the non-routine substantial acquisition of a portfolio of cement and readymixed concrete operations and assets in Texas, during the first quarter of 2024.

For the period from acquisition date through March 31, 2025 and March 31, 2024, respectively, acquisitions contributed $28 million and $57 million to Total revenues and a loss of $9 million and income of $9 million to Net (loss) income attributable to CRH, excluding acquisition-related costs that arose in that period and including the effect of interest expense to finance the acquisitions, respectively.

Pro forma results of operations for the current year acquisitions, as if they were combined as of January 1, 2024, have not been presented because they are not material to the Condensed Consolidated Financial Statements.