Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2014

Changes in Accumulated Other Comprehensive Earnings, Net of Tax

Changes in accumulated other comprehensive loss, net of tax, are as follows:

	(Dollars in Thousands)
	Pension and Postretirement Benefit Plans			Foreign Currency			Unamortized Value of Terminated Forward Starting Interest Rate Swap			Accumulated Other Comprehensive Loss
	Three Months Ended September 30, 2014
Balance at beginning of period	$	(44,685	)	$	5,658		$	(3,114	)	$	(42,141	)
Other comprehensive loss before reclassifications, net of tax		—			(1,466	)		—			(1,466	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		146			—			180			326
Other comprehensive earnings (loss), net of tax		146			(1,466	)		180			(1,140	)
Balance at end of period	$	(44,539	)	$	4,192		$	(2,934	)	$	(43,281	)
	Three Months Ended September 30, 2013
Balance at beginning of period	$	(106,603	)	$	4,153		$	(3,808	)	$	(106,258	)
Other comprehensive earnings before reclassifications, net of tax		—			993			—			993
Amounts reclassified from accumulated other comprehensive loss, net of tax		2,387			—			168			2,555
Other comprehensive earnings, net of tax		2,387			993			168			3,548
Balance at end of period	$	(104,216	)	$	5,146		$	(3,640	)	$	(102,710	)

	(Dollars in Thousands)
	Pension and Postretirement Benefit Plans			Foreign Currency			Unamortized Value of Terminated Forward Starting Interest Rate Swap			Accumulated Other Comprehensive Loss
	Nine Months Ended September 30, 2014
Balance at beginning of period	$	(44,549	)	$	3,902		$	(3,467	)	$	(44,114	)
Other comprehensive (loss ) earnings before reclassifications, net of tax		(431	)		290			—			(141	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		441			—			533			974
Other comprehensive earnings, net of tax		10			290			533			833
Balance at end of period	$	(44,539	)	$	4,192		$	(2,934	)	$	(43,281	)
	Nine Months Ended September 30, 2013
Balance at beginning of period	$	(108,189	)	$	6,157		$	(4,137	)	$	(106,169	)
Other comprehensive loss before reclassifications, net of tax		(2,312	)		(1,011	)		—			(3,323	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		6,285			—			497			6,782
Other comprehensive earnings (loss), net of tax		3,973			(1,011	)		497			3,459
Balance at end of period	$	(104,216	)	$	5,146		$	(3,640	)	$	(102,710	)

Noncurrent Deferred Tax Assets Recorded in Accumulated Other Comprehensive Loss

Changes in net noncurrent deferred tax assets recorded in accumulated other comprehensive loss are as follows:

	(Dollars in Thousands)
	Pension and Postretirement Benefit Plans			Unamortized Value of Terminated Forward Starting Interest Rate Swap			Net Noncurrent Deferred Tax Assets
	Three Months Ended September 30, 2014
Balance at beginning of period	$	29,287		$	2,039		$	31,326
Tax effect of other comprehensive earnings		(96	)		(120	)		(216	)
Balance at end of period	$	29,191		$	1,919		$	31,110
	Three Months Ended September 30, 2013
Balance at beginning of period	$	69,842		$	2,492		$	72,334
Tax effect of other comprehensive earnings		(1,566	)		(111	)		(1,677	)
Balance at end of period	$	68,276		$	2,381		$	70,657
	Nine Months Ended September 30, 2014
Balance at beginning of period	$	29,198		$	2,269		$	31,467
Tax effect of other comprehensive earnings		(7	)		(350	)		(357	)
Balance at end of period	$	29,191		$	1,919		$	31,110
	Nine Months Ended September 30, 2013
Balance at beginning of period	$	70,881		$	2,707		$	73,588
Tax effect of other comprehensive earnings		(2,605	)		(326	)		(2,931	)
Balance at end of period	$	68,276		$	2,381		$	70,657

Reclassification Out of Accumulated Other Comprehensive Loss

Reclassifications out of accumulated other comprehensive loss are as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,						Affected line items in
	2014			2013			2014			2013			the consolidated financial statements
	(Dollars in Thousands)
Pension and postretirement benefit plans
Settlement expense	$	—		$	729		$	—		$	729
Amortization of:
Prior service credit		(703	)		(702	)		(2,107	)		(2,104	)
Actuarial loss		945			3,926			2,835			11,779
		242			3,953			728			10,404		Cost of sales; Selling, general & administrative expenses
Tax effect		(96	)		(1,566	)		(287	)		(4,119	)	Deferred income taxes
	$	146		$	2,387		$	441		$	6,285
Unamortized value of terminated forward starting interest rate swap
Additional interest expense	$	300		$	279		$	883		$	823		Interest expense
Tax effect		(120	)		(111	)		(350	)		(326	)	Deferred income taxes
	$	180		$	168		$	533		$	497

Basic and Diluted Earnings per Common Share

The following table reconciles the numerator and denominator for basic and diluted earnings per common share:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
	(Dollars in Thousands)
Net earnings from continuing operations attributable to Martin Marietta	$	53,812		$	72,107		$	91,786		$	85,758
Less: Distributed and undistributed earnings attributable to unvested awards		213			265			372			374
Basic and diluted net earnings available to common shareholders from continuing operations attributable to Martin Marietta		53,599			71,842			91,414			85,384
Basic and diluted net loss available to common shareholders from discontinued operations		(69	)		(271	)		(140	)		(454	)
Basic and diluted net earnings available to common shareholders attributable to Martin Marietta	$	53,530		$	71,571		$	91,274		$	84,930
Basic weighted-average common shares outstanding		67,086			46,244			53,342			46,134
Effect of dilutive employee and director awards		409			105			217			127
Diluted weighted-average common shares outstanding		67,495			46,349			53,559			46,261

Parent

Comprehensive Earnings (Loss) Attributable

Comprehensive earnings attributable to Martin Marietta is as follows:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2014			2013		2014		2013
	(Dollars in Thousands)
Net earnings attributable to Martin Marietta	$	53,743		$	71,836	$	91,646	$	85,304
Other comprehensive (loss) earnings, net of tax		(1,140	)		3,548		833		3,459
Comprehensive earnings attributable to Martin Marietta	$	52,603		$	75,384	$	92,479	$	88,763

Noncontrolling Interest

Comprehensive Earnings (Loss) Attributable

Comprehensive earnings (loss) attributable to noncontrolling interests, consisting of net earnings or loss and adjustments for the funded status of pension and postretirement benefit plans, is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014			2013
	(Dollars in Thousands)
Net earnings (loss) attributable to noncontrolling interests	$	91	$	202	$	(1,341	)	$	(1,028	)
Other comprehensive earnings, net of tax		2		3		4			8
Comprehensive earnings (loss) attributable to noncontrolling interests	$	93	$	205	$	(1,337	)	$	(1,020	)