Business Combinations, Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale (Tables)

12 Months Ended

Dec. 31, 2024

Business Combinations [Abstract]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following is a summary of the preliminary estimated fair values of the assets acquired and liabilities assumed as of April 5, 2024:

(in millions)
Assets:
Inventories	$	47
Property, plant and equipment1		2,052
Intangible assets, other than goodwill		19
Other assets		2
Total assets		2,120
Liabilities:
Deferred income taxes		234
Asset retirement obligations		3
Other liabilities		96
Total liabilities		333
Net identifiable assets acquired		1,787
Goodwill		263
Total consideration	$	2,050

1 Includes mineral reserves of $1.9 billion.

Summary of Unaudited Pro Forma Financial Information

The following pro forma financial information is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place as of January 1, 2023:

years ended December 31
(in millions)	2024		2023
Revenues	$	6,588	$	7,003
Net earnings from continuing operations attributable to Martin Marietta	$	2,028	$	1,117

Summary of Discontinued Operations and Assets and Liabilities Held for Sale

Financial results for the Company's discontinued operations are as follows:

years ended December 31 (in millions)	2023			2022
Revenues	$	94		$	309
Pretax (loss) earnings from operations	$	(16	)	$	16
Pretax loss on divestitures and sales of assets		(24	)		—
Pretax (loss) earnings		(40	)		16
Income tax (benefit) expense		(10	)		5
(Loss) Earnings from discontinued operations, net of income tax    (benefit) expense	$	(30	)	$	11

Cash flow information for the Company's discontinued operations is as follows:

years ended December 31 (in millions)	2023			2022
Net cash provided by (used for) operating activities	$	1		$	(32	)
Additions to property, plant and equipment	$	(3	)	$	(16	)
Proceeds from divestitures and sales of assets		372			250
Net cash provided by investing activities	$	369		$	234

Assets and liabilities held for sale are as follows:

December 31 (in millions)	2024		2023
Inventories, net	$	—	$	61
Investment land		8		18
Other assets		—		4
Property, plant and equipment		—		327
Intangible assets, excluding goodwill		—		122
Operating lease right-of-use assets		—		15
Goodwill		—		260
Total current assets held for sale	$	8	$	807
Lease obligations	$	—	$	(16	)
Asset retirement obligations		—		(2	)
Total current liabilities held for sale	$	—	$	(18	)