XML 29 R17.htm IDEA: XBRL DOCUMENT v3.20.2
Business Segments
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Business Segments

10.

Business Segments

Effective July 1, 2020, the Company made organizational changes to its Building Material business resulting in two reportable segments: the East Group and the West Group. Additional information on this reportable segment change and the change effective January 1, 2020 is provided in Note 1. 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 income taxes. 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.

The following table displays selected financial data for the Company’s reportable segments. Total revenues, as presented on the consolidated statements of earnings and comprehensive earnings, exclude intersegment revenues, which represent sales from one segment to another segment and are eliminated in consolidation. Prior-year reportable segment information has been reclassified to conform to the current-year presentation.

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

 

 

(Dollars in Millions)

 

Total revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

East Group

 

$

549.3

 

 

$

582.0

 

 

$

1,465.9

 

 

$

1,500.8

 

West Group

 

 

711.2

 

 

 

773.4

 

 

 

1,904.2

 

 

 

1,922.7

 

Total Building Materials Business

 

 

1,260.5

 

 

 

1,355.4

 

 

 

3,370.1

 

 

 

3,423.5

 

Magnesia Specialties

 

 

60.9

 

 

 

64.8

 

 

 

180.2

 

 

 

215.2

 

Total

 

$

1,321.4

 

 

$

1,420.2

 

 

$

3,550.3

 

 

$

3,638.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Products and services revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

East Group

 

$

514.1

 

 

$

539.8

 

 

$

1,371.8

 

 

$

1,398.6

 

West Group

 

 

671.4

 

 

 

724.1

 

 

 

1,785.4

 

 

 

1,800.1

 

Total Building Materials Business

 

 

1,185.5

 

 

 

1,263.9

 

 

 

3,157.2

 

 

 

3,198.7

 

Magnesia Specialties

 

 

55.2

 

 

 

59.3

 

 

 

164.0

 

 

 

198.9

 

Total

 

$

1,240.7

 

 

$

1,323.2

 

 

$

3,321.2

 

 

$

3,397.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (Loss) from operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

East Group

 

$

181.4

 

 

$

190.8

 

 

$

386.1

 

 

$

416.5

 

West Group(1)

 

 

212.3

 

 

 

156.8

 

 

 

368.2

 

 

 

287.7

 

Total Building Materials Business

 

 

393.7

 

 

 

347.6

 

 

 

754.3

 

 

 

704.2

 

Magnesia Specialties

 

 

16.4

 

 

 

20.1

 

 

 

51.2

 

 

 

68.0

 

Corporate

 

 

(9.5

)

 

 

(22.4

)

 

 

(40.7

)

 

 

(71.8

)

Total

 

$

400.6

 

 

$

345.3

 

 

$

764.8

 

 

$

700.4

 

(1) 2020 amounts include nonrecurring gains on sales of investment land and divested assets of $69.9 million

 

 

 

September 30, 2020

 

 

December 31, 2019

 

Assets employed:

 

(Dollars in Millions)

 

East Group

 

$

4,373.9

 

 

$

4,320.6

 

West Group

 

 

5,390.3

 

 

 

5,321.9

 

Total Building Materials Business

 

 

9,764.2

 

 

 

9,642.5

 

Magnesia Specialties

 

 

163.5

 

 

 

176.2

 

Corporate

 

 

507.7

 

 

 

312.9

 

Total

 

$

10,435.4

 

 

$

10,131.6