Business Combinations And Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2022

Business Combinations [Abstract]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following is a summary of the preliminary estimated fair values of the assets acquired and liabilities assumed as of October 1, 2021 (dollars in millions):

Assets:
Inventories	$	94.1
Property, plant and equipment		850.2
Intangible assets, other than goodwill		551.0
Goodwill		992.8
Other assets		54.6
Total assets		2,542.7
Liabilities:
Asset retirement obligations		178.9
Operating and finance lease liabilities		57.5
Other liabilities		41.7
Total liabilities		278.1
Total consideration	$	2,264.6

Summary of Discontinued Operations and Assets and Liabilities Held for Sale

Discontinued operations for the quarter ended March 31, 2022 include the following:

(Dollars in Millions)
Total revenues	$	94.7
Loss from operations	$	(4.0	)
Pretax loss	$	(4.1	)
Income tax benefit		1.0
Net loss	$	(3.1	)

Assets and liabilities held for sale as of March 31, 2022 and December 31, 2021, which also include a cement plant in Tehachapi, California; related cement distribution terminals; the remaining California ready mixed concrete plants; certain investment properties; and the Colorado and Central Texas ready mixed concrete operations, which were only classified as held for sale as of March 31, 2022 (see Note 14), are as follows:

	March 31, 2022									December 31, 2021
	Continuing Operations			Discontinued Operations			Total			Continuing Operations		Discontinued Operations			Total
	(Dollars in Millions)
Inventories, net	$	8.9		$	41.8		$	50.7		$	—	$	53.1		$	53.1
Investment land		40.7			—			40.7			32.7		—			32.7
Other assets		0.5			29.3			29.8			—		16.4			16.4
Total current assets held for sale	$	50.1		$	71.1		$	121.2		$	32.7	$	69.5		$	102.2
Property, plant and equipment	$	65.6		$	226.9		$	292.5		$	—	$	226.0		$	226.0
Intangible assets, excluding goodwill		5.7			264.9			270.6			—		264.9			264.9
Operating lease right-of-use assets		7.4			18.9			26.3			—		18.1			18.1
Goodwill		115.9			104.7			220.6			—		109.3			109.3
Other assets		—			8.9			8.9			—		4.6			4.6
Valuation allowance for loss on sale		—			(6.0	)		(6.0	)		—		(6.0	)		(6.0	)
Total noncurrent assets held for sale	$	194.6		$	618.3		$	812.9		$	—	$	616.9		$	616.9
Lease obligations	$	(1.0	)	$	(8.3	)	$	(9.3	)	$	—	$	(7.5	)	$	(7.5	)
Total current liabilities held for sale	$	(1.0	)	$	(8.3	)	$	(9.3	)	$	—	$	(7.5	)	$	(7.5	)
Asset retirement obligations	$	(0.7	)	$	(32.7	)	$	(33.4	)	$	—	$	(31.5	)	$	(31.5	)
Lease obligations		(6.8	)		(23.2	)		(30.0	)		—		(22.0	)		(22.0	)
Other liabilities		—			(0.5	)		(0.5	)		—		—			—
Total noncurrent liabilities held for sale	$	(7.5	)	$	(56.4	)	$	(63.9	)	$	—	$	(53.5	)	$	(53.5	)