Business Segments

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Business Segments

11. Business Segments

The Building Materials business contains two reportable segments: the East Group and the West Group. The Company also has a Magnesia Specialties segment. The Company’s evaluation of performance and allocation of resources are based primarily on earnings from operations. Consolidated earnings from operations include total revenues less cost of revenues; selling, general and administrative expenses; acquisition and integration expenses; other operating income and expenses, net; and exclude interest expense; other nonoperating income and expenses, net; and income taxes. Corporate loss from operations primarily includes depreciation; expenses for corporate administrative functions; acquisition and integration expenses; and other nonrecurring income and expenses not reported in one of the operating segments. All long-term debt and related interest expense are held at Corporate.

The following table displays selected financial data for the Company’s reportable segments. Total revenues, as presented on the consolidated statements of earnings and comprehensive earnings, exclude intersegment revenues, which represent sales from one segment to another segment and are eliminated in consolidation. Total revenues, product and services revenues, and earnings (loss) from operations reflect continuing operations only. For the nine months ended September 30, 2022, earnings from operations for the West Group include a nonrecurring gain on a divestiture of $151.9 million.

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
	(Dollars in Millions)
Total revenues:
East Group	$	773.6		$	684.1		$	1,866.9		$	1,714.4
West Group		962.4			794.8			2,582.9			1,978.2
Total Building Materials business		1,736.0			1,478.9			4,449.8			3,692.6
Magnesia Specialties		75.7			78.4			234.4			225.0
Total	$	1,811.7		$	1,557.3		$	4,684.2		$	3,917.6
Products and services revenues:
East Group	$	728.5		$	641.8		$	1,755.5		$	1,610.9
West Group		883.0			749.0			2,382.2			1,861.9
Total Building Materials business		1,611.5			1,390.8			4,137.7			3,472.8
Magnesia Specialties		69.0			71.9			214.4			207.1
Total	$	1,680.5		$	1,462.7		$	4,352.1		$	3,679.9
Earnings (Loss) from operations:
East Group	$	239.4		$	205.8		$	478.0		$	465.3
West Group		159.7			150.6			477.2			284.2
Total Building Materials business		399.1			356.4			955.2			749.5
Magnesia Specialties		16.5			23.1			58.4			69.8
Corporate		(9.7	)		(22.6	)		(69.2	)		(55.6	)
Total	$	405.9		$	356.9		$	944.4		$	763.7