Business Segments

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Business Segments

9. Business Segments

The Aggregates business contains three reportable business segments: Mid-America Group, Southeast Group and West Group. The Corporation also has Cement and Magnesia Specialties segments. Corporate loss from operations primarily includes depreciation on capitalized interest, expenses for corporate administrative functions, business development and integration expenses, unallocated corporate expenses and other nonrecurring and/or non-operational adjustments. Intersegment sales represent net sales from one segment to another segment.

9. Business Segments (Continued)

The following tables display selected financial data for continuing operations for the Corporation’s reportable business segments. Total revenues and net sales in the table below, as well as the consolidated statements of earnings and comprehensive earnings, do not include intersegment sales as these sales are eliminated.  

	Three Months Ended
	March 31,
	2015			2014
	(Dollars in Thousands)
Total revenues:
Mid-America Group	$	140,834		$	115,708
Southeast Group		64,678			59,820
West Group		320,571			190,787
Total Aggregates Business		526,083			366,315
Cement		102,100			—
Magnesia Specialties		63,164			62,314
Total	$	691,347		$	428,629
Net sales:
Mid-America Group	$	129,705		$	106,533
Southeast Group		59,770			55,381
West Group		287,082			160,416
Total Aggregates Business		476,557			322,330
Cement		96,565			—
Magnesia Specialties		58,754			57,348
Total	$	631,876		$	379,678
(Loss) Earnings from operations:
Mid-America Group	$	(4,203	)	$	(11,766	)
Southeast Group		(1,548	)		(6,111	)
West Group		14,499			2,081
Total Aggregates Business		8,748			(15,796	)
Cement		12,229			—
Magnesia Specialties		17,789			16,285
Corporate		(13,195	)		(16,387	)
Total	$	25,571		$	(15,898	)

9. Business Segments (continued)

Cement intersegment sales, which are to the ready mixed concrete product line in the West Group, were $18,377,000 for the three months ended March 31, 2015.

	March 31,		December 31,		March 31,
	2015		2014		2014
	(Dollars in Thousands)
Assets employed:
Mid-America Group	$	1,287,933	$	1,290,833	$	1,257,753
Southeast Group		597,461		604,044		607,219
West Group		2,490,726		2,444,400		1,024,038
Total Aggregates Business		4,376,120		4,339,277		2,889,010
Cement		2,422,119		2,451,799		—
Magnesia Specialties		147,745		150,359		153,070
Corporate		471,662		522,957		213,177
Total	$	7,417,646	$	7,464,392	$	3,255,257

The assets employed at December 31, 2014 reflect a reclassification of approximately $600 million of goodwill from the Cement segment to the West Group segment compared with the amounts presented in the Segments note (Note O) to the consolidated financial statements in the 2014 Form 10-K.  This correction had no impact on the consolidated balance sheet as of December 31, 2014, or the consolidated statements of earnings (including earnings per diluted share), comprehensive earnings, total equity and cash flows for the year then ended.  Further, goodwill by reportable segment was correctly presented in the Goodwill and Intangible Assets note (Note B) to the 2014 consolidated financial statements.

9. Business Segments (continued)

The Aggregates business includes the aggregates product line and aggregates-related downstream product lines, which include asphalt, ready mixed concrete and road paving product lines. All aggregates-related downstream product lines reside in the West Group. The following tables, which are reconciled to consolidated amounts, provide net sales and gross profit by line of business: Aggregates (further divided by product line), Cement and Magnesia Specialties.

	Three Months Ended
	March 31,
	2015			2014
	(Dollars in Thousands)
Net sales:
Aggregates	$	332,214		$	263,885
Asphalt		9,645			10,498
Ready Mixed Concrete		127,572			38,009
Road Paving		7,126			9,938
Total Aggregates Business		476,557			322,330
Cement		96,565		—
Magnesia Specialties		58,754			57,348
Total	$	631,876		$	379,678
Gross profit (loss):
Aggregates	$	41,417		$	10,051
Asphalt		(1,463	)		(1,426	)
Ready Mixed Concrete		2,084			2,944
Road Paving		(3,311	)		(3,982	)
Total Aggregates Business		38,727			7,587
Cement		18,985			—
Magnesia Specialties		20,178			18,755
Corporate		(3,629	)		(507	)
Total	$	74,261		$	25,835