Segment information

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment information

14. Segment information

The Company has the following three operating and reportable segments:

Americas Materials Solutions;

Americas Building Solutions; and

International Solutions

The Americas Materials Solutions segment provides building materials, products and services for the construction and maintenance of public infrastructure and commercial and residential buildings in North America. The primary materials produced by this segment include aggregates, cementitious materials, readymixed concrete and asphalt. This segment also provides paving and construction services for customers.

The Americas Building Solutions segment manufactures, supplies and delivers building products for the built environment in communities across North America. Our subsidiaries within this segment offer building and infrastructure solutions serving complex critical infrastructure (such as water, energy, transportation and telecommunications projects) and outdoor living solutions for enhancing private and public spaces.

The International Solutions segment provides building materials, products and services across Europe and Australia, for use in the construction of critical infrastructure, commercial and residential buildings and outdoor living spaces.

Adjusted EBITDA is defined as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, Loss on impairments, gain/loss on divestitures and investments, Income/loss from equity method investments, substantial acquisition-related costs and pension expense/income excluding current service cost component.

The key performance measures and segment expenses for the Company’s reportable segments were:

	Three months ended March 31, 2026
in $ millions	Americas Materials Solutions	Americas Building Solutions	International Solutions	Total
Revenue	2,724	1,668	2,978	7,370
Less:
Labor	847	375	705	1,927
Energy costs	150	35	236	421
Other segment items (i)	1,624	971	1,841	4,436
Adjusted EBITDA	103	287	196	586

	Three months ended March 31, 2025
in $ millions	Americas Materials Solutions	Americas Building Solutions	International Solutions	Total
Revenue	2,243	1,682	2,831	6,756
Less:
Labor	754	375	657	1,786
Energy costs	140	32	220	392
Other segment items (i)	1,290	988	1,805	4,083
Adjusted EBITDA	59	287	149	495

(i)    The nature of other segment items is similar for each segment and primarily includes raw materials, haulage costs, subcontractor costs and other Selling, general and administrative expenses. The composition of other segment items is such that at a segment level none of these items is individually significant in determining segment performance.

	Three months ended
	March 31
in $ millions	2026	2025
Adjusted EBITDA	586	495
Depreciation, depletion, and amortization	(576)	(477)
Loss on impairments (i)	(48)	–
Interest income	21	37
Interest expense	(203)	(181)
Loss on divestitures and investments (ii)	(6)	(26)
Pension income excluding current service cost component (ii)	5	4
Other interest, net (ii)	(3)	2
Loss from operations before income tax benefit and loss from equity method investments	(224)	(146)

(i) Loss on impairments is comprised of $48 million within International Solutions for the three months ended March 31, 2026.

(ii) Loss on divestitures and investments, pension income excluding current service cost component and other interest, net have been included in Other nonoperating                                            expense, net in the Condensed Consolidated Statements of Income.

Depreciation, depletion and amortization for each of the segments were:

	Three months ended
	March 31
in $ millions	2026	2025
Americas Materials Solutions	261	220
Americas Building Solutions	93	91
International Solutions	222	166
Total depreciation, depletion and amortization	576	477

The segment assets were:

	March 31	December 31	March 31
in $ millions	2026	2025	2025
Assets
Americas Materials Solutions	24,440	25,396	21,715
Americas Building Solutions	9,758	9,712	9,786
International Solutions	17,877	18,121	15,793
Total assets for reportable segments	52,075	53,229	47,294

Additions to property, plant and equipment and intangible assets for each of the segments were:

	Three months ended
	March 31
in $ millions	2026	2025
Property, plant and equipment and intangible asset additions (i)
Americas Materials Solutions	307	240
Americas Building Solutions	100	199
International Solutions	276	244
Total property, plant and equipment and intangible asset additions	683	683

(i) Property, plant and equipment and intangible asset additions exclude asset retirement cost additions.