Segments

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segments

9.Segments

The Building Materials business contains two reportable segments: the East Group and the West Group. The Company also has a Magnesia Specialties reportable segment. The Company’s evaluation of performance and allocation of resources are based primarily on earnings from operations. Segment earnings from operations include total revenues less cost of revenues; selling, general and administrative expenses; other operating income and expenses, net; and exclude interest expense; other nonoperating income and expenses, net; and income tax expense. Corporate loss from operations primarily includes depreciation; expenses for corporate administrative functions; acquisition and integration expenses; and other nonrecurring income and expenses not attributable to operations of the Company's operating segments.

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, reflect the elimination of intersegment revenues, which represent sales from one segment to another segment. Total 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 included a nonrecurring gain on divested assets of $151.9 million.

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2023			2022			2023			2022
	(Dollars in Millions)
Total revenues:
East Group	$	814.3		$	773.6		$	2,079.0		$	1,866.9
West Group		1,104.3			962.4			2,850.6			2,582.9
Total Building Materials business		1,918.6			1,736.0			4,929.6			4,449.8
Magnesia Specialties		75.5			75.7			239.4			234.4
Total	$	1,994.1		$	1,811.7		$	5,169.0		$	4,684.2
Earnings (Loss) from operations:
East Group	$	295.2		$	239.4		$	631.6		$	478.0
West Group		283.0			159.7			617.3			477.2
Total Building Materials business		578.2			399.1			1,248.9			955.2
Magnesia Specialties		16.9			16.5			60.8			58.4
Total reportable segments		595.1			415.6			1,309.7			1,013.6
Corporate		(28.5	)		(9.7	)		(83.8	)		(69.2	)
Consolidated earnings from operations		566.6			405.9			1,225.9			944.4
Interest expense		40.8			42.8			125.1			126.4
Other nonoperating income, net		(14.3	)		(7.3	)		(49.2	)	$	(40.1	)
Consolidated earnings from continuing    operations before income tax expense	$	540.1		$	370.4		$	1,150.0		$	858.1