Business Segments

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Business Segments

10. 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 certain 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.

10. 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						Six Months Ended
	June 30,						June 30,
	2015			2014			2015			2014
	(Dollars in Thousands)
Total revenues:
Mid-America Group	$	257,649		$	240,526		$	398,482		$	356,235
Southeast Group		81,518			75,168			146,195			134,988
West Group		411,235			286,811			731,807			477,598
Total Aggregates Business		750,402			602,505			1,276,484			968,821
Cement		105,899			—			207,999			—
Magnesia Specialties		65,118			66,720			128,282			129,034
Total	$	921,419		$	669,225		$	1,612,765		$	1,097,855
Net sales:
Mid-America Group	$	237,415		$	218,703		$	367,120		$	325,236
Southeast Group		76,483			70,725			136,253			126,106
West Group		375,489			250,589			662,570			411,004
Total Aggregates Business		689,387			540,017			1,165,943			862,346
Cement		100,405			—			196,970			—
Magnesia Specialties		60,457			61,920			119,211			119,269
Total	$	850,249		$	601,937		$	1,482,124		$	981,615
Earnings (Loss) from operations:
Mid-America Group	$	66,894		$	57,283		$	62,691		$	45,517
Southeast Group		4,818			(1,302	)		3,269			(7,413	)
West Group		49,177			30,873			63,676			32,954
Total Aggregates Business		120,889			86,854			129,636			71,058
Cement		22,468			—			34,697			—
Magnesia Specialties		18,751			20,995			36,541			37,280
Corporate		(25,124	)		(11,608	)		(38,319	)		(27,994	)
Total	$	136,984		$	96,241		$	162,555		$	80,344

10. Business Segments (continued)

Cement intersegment sales, which are to the ready mixed concrete product line in the West Group, were $20,854,000 and $38,955,000 for the three and six months ended June 30, 2015, respectively.

	June 30,		December 31,		June 30,
	2015		2014		2014
	(Dollars in Thousands)
Assets employed:
Mid-America Group	$	1,343,337	$	1,290,833	$	1,311,860
Southeast Group		601,130		604,044		606,933
West Group		2,559,411		2,444,400		1,084,291
Total Aggregates Business		4,503,878		4,339,277		3,003,084
Cement		2,413,867		2,451,799		—
Magnesia Specialties		148,296		150,359		151,129
Corporate		433,613		522,957		201,830
Total	$	7,499,654	$	7,464,392	$	3,356,043

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.

10. 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						Six Months Ended
	June 30,						June 30,
	2015			2014			2015			2014
	(Dollars in Thousands)
Net sales:
Aggregates	$	481,616		$	421,974		$	813,830		$	685,858
Asphalt		18,896			22,627			28,541			33,125
Ready Mixed Concrete		149,750			52,379			277,323			90,388
Road Paving		39,125			43,037			46,249			52,975
Total Aggregates Business		689,387			540,017			1,165,943			862,346
Cement		100,405		—				196,970			—
Magnesia Specialties		60,457			61,920			119,211			119,269
Total	$	850,249		$	601,937		$	1,482,124		$	981,615
Gross profit (loss):
Aggregates	$	137,272		$	100,142		$	178,690		$	110,194
Asphalt		4,314			4,869			2,851			3,443
Ready Mixed Concrete		9,341			6,982			11,424			9,926
Road Paving		3,577			(249	)		265			(4,231	)
Total Aggregates Business		154,504			111,744			193,230			119,332
Cement		30,414			—			49,400			—
Magnesia Specialties		21,224			23,394			41,402			42,149
Corporate		(5,989	)		464			(9,618	)		(43	)
Total	$	200,153		$	135,602		$	274,414		$	161,438