Business Segments

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Business Segments

11. Business Segments

The Building Materials business contains three reportable business segments: Mid-America Group, Southeast Group and West Group. The Company also has a Magnesia Specialties segment.  The Company’s evaluation of performance and allocation of resources are based primarily on earnings from operations. Consolidated earnings from operations include total revenues less cost of revenues; selling, general and administrative expenses; acquisition-related expenses, net; other operating income and expenses, net; and exclude interest expense; other nonoperating income and expenses, net; and taxes on income. Corporate loss from operations primarily includes depreciation on capitalized interest; unallocated expenses for corporate administrative functions; acquisition-related expenses, net; and other nonrecurring income and expenses excluded from the Company’s evaluation of business segment performance and resource allocation. All debt and related interest expense is held at Corporate.

The following table displays selected financial data for the Company’s reportable business segments. The acquired Bluegrass operations are located in the Mid-America Group and Southeast Group.  Total revenues, as well as the consolidated statements of earnings and comprehensive earnings, exclude intersegment revenues which represent sales from one segment to another segment, which are eliminated. Prior-year information has been reclassified to conform to current year revenue presentation.  

11. Business Segments (continued)

	Three-Months Ended						Six-Months Ended
	June 30,						June 30,
	2018			2017			2018			2017
	(Dollars in Thousands)
Total revenues:
Mid-America Group	$	350,592		$	290,898		$	529,373		$	479,918
Southeast Group		112,963			92,348			193,202			182,630
West Group		665,886			610,249			1,139,608			1,106,230
Total Building Materials Business		1,129,441			993,495			1,862,183			1,768,778
Magnesia Specialties		72,962			70,029			142,224			138,605
Total	$	1,202,403		$	1,063,524		$	2,004,407		$	1,907,383
Products and services revenues:
Mid-America Group	$	325,578		$	269,914		$	493,468		$	447,321
Southeast Group		109,082			88,538			186,646			175,264
West Group		625,960			572,663			1,068,943			1,036,545
Total Building Materials Business		1,060,620			931,115			1,749,057			1,659,130
Magnesia Specialties		68,157			65,728			133,025			130,029
Total	$	1,128,777		$	996,843		$	1,882,082		$	1,789,159
Earnings (Loss) from operations:
Mid-America Group	$	108,709		$	85,363		$	114,876		$	98,705
Southeast Group		32,052			14,334			34,093			24,449
West Group		122,844			112,491			157,796			173,724
Total Building Materials Business		263,605			212,188			306,765			296,878
Magnesia Specialties		21,329			21,118			42,565			40,999
Corporate		(20,981	)		(20,454	)		(46,296	)		(47,875	)
Total	$	263,953		$	212,852		$	303,034		$	290,002

	June 30,		December 31,		June 30,
	2018		2017		2017
Assets employed:	(Dollars in thousands)
Mid-America Group	$	2,810,643	$	1,532,867	$	1,509,329
Southeast Group		1,297,674		616,344		598,365
West Group		5,079,624		5,014,231		5,029,868
Total Building Materials Business		9,187,941		7,163,442		7,137,562
Magnesia Specialties		151,182		152,257		146,925
Corporate		257,629		1,676,812		231,373
Total	$	9,596,752	$	8,992,511	$	7,515,860