mlm-10q_20210930.htm
false
2021
Q3
0000916076
--12-31
P5Y
0000916076
2021-01-01
2021-09-30
xbrli:shares
0000916076
2021-10-28
iso4217:USD
0000916076
2021-09-30
0000916076
2020-12-31
iso4217:USD
xbrli:shares
0000916076
mlm:ProductsAndServicesMember
2021-07-01
2021-09-30
0000916076
mlm:ProductsAndServicesMember
2020-07-01
2020-09-30
0000916076
mlm:ProductsAndServicesMember
2021-01-01
2021-09-30
0000916076
mlm:ProductsAndServicesMember
2020-01-01
2020-09-30
0000916076
us-gaap:CargoAndFreightMember
2021-07-01
2021-09-30
0000916076
us-gaap:CargoAndFreightMember
2020-07-01
2020-09-30
0000916076
us-gaap:CargoAndFreightMember
2021-01-01
2021-09-30
0000916076
us-gaap:CargoAndFreightMember
2020-01-01
2020-09-30
0000916076
2021-07-01
2021-09-30
0000916076
2020-07-01
2020-09-30
0000916076
2020-01-01
2020-09-30
0000916076
2019-12-31
0000916076
2020-09-30
0000916076
us-gaap:CommonStockMember
2021-06-30
0000916076
us-gaap:AdditionalPaidInCapitalMember
2021-06-30
0000916076
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-06-30
0000916076
us-gaap:RetainedEarningsMember
2021-06-30
0000916076
us-gaap:ParentMember
2021-06-30
0000916076
us-gaap:NoncontrollingInterestMember
2021-06-30
0000916076
2021-06-30
0000916076
us-gaap:RetainedEarningsMember
2021-07-01
2021-09-30
0000916076
us-gaap:ParentMember
2021-07-01
2021-09-30
0000916076
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-07-01
2021-09-30
0000916076
us-gaap:AdditionalPaidInCapitalMember
2021-07-01
2021-09-30
0000916076
us-gaap:CommonStockMember
2021-09-30
0000916076
us-gaap:AdditionalPaidInCapitalMember
2021-09-30
0000916076
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-09-30
0000916076
us-gaap:RetainedEarningsMember
2021-09-30
0000916076
us-gaap:ParentMember
2021-09-30
0000916076
us-gaap:NoncontrollingInterestMember
2021-09-30
0000916076
us-gaap:CommonStockMember
2020-12-31
0000916076
us-gaap:AdditionalPaidInCapitalMember
2020-12-31
0000916076
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-12-31
0000916076
us-gaap:RetainedEarningsMember
2020-12-31
0000916076
us-gaap:ParentMember
2020-12-31
0000916076
us-gaap:NoncontrollingInterestMember
2020-12-31
0000916076
us-gaap:RetainedEarningsMember
2021-01-01
2021-09-30
0000916076
us-gaap:ParentMember
2021-01-01
2021-09-30
0000916076
us-gaap:NoncontrollingInterestMember
2021-01-01
2021-09-30
0000916076
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-01-01
2021-09-30
0000916076
us-gaap:CommonStockMember
2021-01-01
2021-09-30
0000916076
us-gaap:AdditionalPaidInCapitalMember
2021-01-01
2021-09-30
0000916076
us-gaap:CommonStockMember
2020-06-30
0000916076
us-gaap:AdditionalPaidInCapitalMember
2020-06-30
0000916076
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-06-30
0000916076
us-gaap:RetainedEarningsMember
2020-06-30
0000916076
us-gaap:ParentMember
2020-06-30
0000916076
us-gaap:NoncontrollingInterestMember
2020-06-30
0000916076
2020-06-30
0000916076
us-gaap:RetainedEarningsMember
2020-07-01
2020-09-30
0000916076
us-gaap:ParentMember
2020-07-01
2020-09-30
0000916076
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-07-01
2020-09-30
0000916076
us-gaap:AdditionalPaidInCapitalMember
2020-07-01
2020-09-30
0000916076
us-gaap:CommonStockMember
2020-09-30
0000916076
us-gaap:AdditionalPaidInCapitalMember
2020-09-30
0000916076
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-09-30
0000916076
us-gaap:RetainedEarningsMember
2020-09-30
0000916076
us-gaap:ParentMember
2020-09-30
0000916076
us-gaap:NoncontrollingInterestMember
2020-09-30
0000916076
us-gaap:CommonStockMember
2019-12-31
0000916076
us-gaap:AdditionalPaidInCapitalMember
2019-12-31
0000916076
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-12-31
0000916076
us-gaap:RetainedEarningsMember
2019-12-31
0000916076
us-gaap:ParentMember
2019-12-31
0000916076
us-gaap:NoncontrollingInterestMember
2019-12-31
0000916076
us-gaap:RetainedEarningsMember
2020-01-01
2020-09-30
0000916076
us-gaap:ParentMember
2020-01-01
2020-09-30
0000916076
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-01-01
2020-09-30
0000916076
us-gaap:CommonStockMember
2020-01-01
2020-09-30
0000916076
us-gaap:AdditionalPaidInCapitalMember
2020-01-01
2020-09-30
mlm:Facility
mlm:State
mlm:Segment
0000916076
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2021-06-30
0000916076
us-gaap:AccumulatedTranslationAdjustmentMember
2021-06-30
0000916076
us-gaap:AccumulatedTranslationAdjustmentMember
2021-07-01
2021-09-30
0000916076
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2021-07-01
2021-09-30
0000916076
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2021-09-30
0000916076
us-gaap:AccumulatedTranslationAdjustmentMember
2021-09-30
0000916076
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2020-06-30
0000916076
us-gaap:AccumulatedTranslationAdjustmentMember
2020-06-30
0000916076
us-gaap:AccumulatedTranslationAdjustmentMember
2020-07-01
2020-09-30
0000916076
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2020-07-01
2020-09-30
0000916076
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2020-09-30
0000916076
us-gaap:AccumulatedTranslationAdjustmentMember
2020-09-30
0000916076
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2020-12-31
0000916076
us-gaap:AccumulatedTranslationAdjustmentMember
2020-12-31
0000916076
us-gaap:AccumulatedTranslationAdjustmentMember
2021-01-01
2021-09-30
0000916076
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2021-01-01
2021-09-30
0000916076
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2019-12-31
0000916076
us-gaap:AccumulatedTranslationAdjustmentMember
2019-12-31
0000916076
us-gaap:AccumulatedTranslationAdjustmentMember
2020-01-01
2020-09-30
0000916076
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2020-01-01
2020-09-30
0000916076
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2020-01-01
2020-09-30
0000916076
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
us-gaap:OtherNonoperatingIncomeExpenseMember
2021-07-01
2021-09-30
0000916076
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
us-gaap:OtherNonoperatingIncomeExpenseMember
2020-07-01
2020-09-30
0000916076
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
us-gaap:OtherNonoperatingIncomeExpenseMember
2021-01-01
2021-09-30
0000916076
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
us-gaap:OtherNonoperatingIncomeExpenseMember
2020-01-01
2020-09-30
0000916076
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2021-07-01
2021-09-30
0000916076
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2020-07-01
2020-09-30
0000916076
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2021-01-01
2021-09-30
0000916076
srt:MinimumMember
us-gaap:ServiceMember
2021-01-01
2021-09-30
0000916076
srt:MaximumMember
us-gaap:ServiceMember
2021-01-01
2021-09-30
0000916076
2021-10-01
srt:MinimumMember
2021-09-30
0000916076
2020-10-01
srt:MinimumMember
2020-09-30
0000916076
2021-10-01
srt:MaximumMember
2021-09-30
0000916076
2020-10-01
srt:MaximumMember
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessEastGroupMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2021-07-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessWestGroupMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2021-07-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
mlm:ProductsAndServicesMember
2021-07-01
2021-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2021-07-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessEastGroupMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2020-07-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessWestGroupMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2020-07-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
mlm:ProductsAndServicesMember
2020-07-01
2020-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2020-07-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessEastGroupMember
us-gaap:OperatingSegmentsMember
us-gaap:CargoAndFreightMember
2021-07-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessWestGroupMember
us-gaap:OperatingSegmentsMember
us-gaap:CargoAndFreightMember
2021-07-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
us-gaap:CargoAndFreightMember
2021-07-01
2021-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
us-gaap:CargoAndFreightMember
2021-07-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessEastGroupMember
us-gaap:OperatingSegmentsMember
us-gaap:CargoAndFreightMember
2020-07-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessWestGroupMember
us-gaap:OperatingSegmentsMember
us-gaap:CargoAndFreightMember
2020-07-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
us-gaap:CargoAndFreightMember
2020-07-01
2020-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
us-gaap:CargoAndFreightMember
2020-07-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessEastGroupMember
us-gaap:OperatingSegmentsMember
2021-07-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessWestGroupMember
us-gaap:OperatingSegmentsMember
2021-07-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
2021-07-01
2021-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
2021-07-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessEastGroupMember
us-gaap:OperatingSegmentsMember
2020-07-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessWestGroupMember
us-gaap:OperatingSegmentsMember
2020-07-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
2020-07-01
2020-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
2020-07-01
2020-09-30
0000916076
stpr:CO
us-gaap:ServiceMember
mlm:BuildingMaterialsBusinessWestGroupMember
2021-07-01
2021-09-30
0000916076
stpr:CO
us-gaap:ServiceMember
mlm:BuildingMaterialsBusinessWestGroupMember
2020-07-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessEastGroupMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2021-01-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessWestGroupMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2021-01-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
mlm:ProductsAndServicesMember
2021-01-01
2021-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2021-01-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessEastGroupMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2020-01-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessWestGroupMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2020-01-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
mlm:ProductsAndServicesMember
2020-01-01
2020-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2020-01-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessEastGroupMember
us-gaap:OperatingSegmentsMember
us-gaap:CargoAndFreightMember
2021-01-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessWestGroupMember
us-gaap:OperatingSegmentsMember
us-gaap:CargoAndFreightMember
2021-01-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
us-gaap:CargoAndFreightMember
2021-01-01
2021-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
us-gaap:CargoAndFreightMember
2021-01-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessEastGroupMember
us-gaap:OperatingSegmentsMember
us-gaap:CargoAndFreightMember
2020-01-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessWestGroupMember
us-gaap:OperatingSegmentsMember
us-gaap:CargoAndFreightMember
2020-01-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
us-gaap:CargoAndFreightMember
2020-01-01
2020-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
us-gaap:CargoAndFreightMember
2020-01-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessEastGroupMember
us-gaap:OperatingSegmentsMember
2021-01-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessWestGroupMember
us-gaap:OperatingSegmentsMember
2021-01-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
2021-01-01
2021-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
2021-01-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessEastGroupMember
us-gaap:OperatingSegmentsMember
2020-01-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessWestGroupMember
us-gaap:OperatingSegmentsMember
2020-01-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
2020-01-01
2020-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
2020-01-01
2020-09-30
0000916076
stpr:CO
us-gaap:ServiceMember
2021-01-01
2021-09-30
0000916076
stpr:CO
us-gaap:ServiceMember
2020-01-01
2020-09-30
0000916076
mlm:SouthernCrushedConcreteMember
2021-07-30
2021-07-30
0000916076
mlm:TillerCorporationMember
2021-04-28
2021-04-30
0000916076
mlm:EastGroupMember
2020-12-31
0000916076
mlm:WestGroupMember
2020-12-31
0000916076
mlm:EastGroupMember
2021-01-01
2021-09-30
0000916076
mlm:WestGroupMember
2021-01-01
2021-09-30
0000916076
mlm:EastGroupMember
2021-09-30
0000916076
mlm:WestGroupMember
2021-09-30
0000916076
us-gaap:NoncompeteAgreementsMember
2021-09-30
0000916076
us-gaap:CustomerRelationshipsMember
2021-09-30
0000916076
mlm:OperatingPermitsMember
2021-09-30
0000916076
mlm:UseRightsAndOtherMember
2021-09-30
0000916076
us-gaap:TradeNamesMember
2021-09-30
0000916076
us-gaap:NoncompeteAgreementsMember
2020-12-31
0000916076
us-gaap:CustomerRelationshipsMember
2020-12-31
0000916076
mlm:OperatingPermitsMember
2020-12-31
0000916076
mlm:UseRightsAndOtherMember
2020-12-31
0000916076
us-gaap:TradeNamesMember
2020-12-31
0000916076
mlm:OperatingPermitsMember
mlm:BuildingMaterialsBusinessMember
2021-09-30
0000916076
mlm:OperatingPermitsMember
2021-09-30
0000916076
mlm:UseRightsNotSubjectToAmortizationMember
mlm:BuildingMaterialsBusinessMember
2021-09-30
0000916076
mlm:UseRightsNotSubjectToAmortizationMember
2021-09-30
0000916076
us-gaap:TradeNamesMember
mlm:BuildingMaterialsBusinessMember
2021-09-30
0000916076
us-gaap:TradeNamesMember
mlm:MagnesiaSpecialtiesMember
2021-09-30
0000916076
us-gaap:TradeNamesMember
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
2021-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
2021-09-30
0000916076
mlm:OperatingPermitsMember
mlm:BuildingMaterialsBusinessMember
2020-12-31
0000916076
mlm:OperatingPermitsMember
2020-12-31
0000916076
mlm:UseRightsNotSubjectToAmortizationMember
mlm:BuildingMaterialsBusinessMember
2020-12-31
0000916076
mlm:UseRightsNotSubjectToAmortizationMember
2020-12-31
0000916076
us-gaap:TradeNamesMember
mlm:BuildingMaterialsBusinessMember
2020-12-31
0000916076
us-gaap:TradeNamesMember
mlm:MagnesiaSpecialtiesMember
2020-12-31
0000916076
us-gaap:TradeNamesMember
2020-12-31
0000916076
mlm:BuildingMaterialsBusinessMember
2020-12-31
0000916076
mlm:MagnesiaSpecialtiesMember
2020-12-31
0000916076
us-gaap:CustomerRelationshipsMember
2021-01-01
2021-09-30
0000916076
mlm:PermitsMember
2021-01-01
2021-09-30
0000916076
us-gaap:TradeNamesMember
2021-01-01
2021-09-30
0000916076
mlm:ZeroPointSixFiveZeroPercentSeniorNotesDueTwentyTwentyThreeMember
2021-09-30
0000916076
mlm:FourPointTwoFivePercentSeniorNotesDueTwentyTwentyFourMember
2021-09-30
0000916076
mlm:FourPointTwoFivePercentSeniorNotesDueTwentyTwentyFourMember
2020-12-31
0000916076
mlm:SevenPercentDebenturesDueTwentyTwentyFiveMember
2021-09-30
0000916076
mlm:SevenPercentDebenturesDueTwentyTwentyFiveMember
2020-12-31
0000916076
mlm:ThreePointFourFiveZeroPercentSeniorNotesDueTwentyTwentySevenMember
2021-09-30
0000916076
mlm:ThreePointFourFiveZeroPercentSeniorNotesDueTwentyTwentySevenMember
2020-12-31
0000916076
mlm:ThreePointFiveZeroZeroPercentSeniorNotesDueTwentyTwentySevenMember
2021-09-30
0000916076
mlm:ThreePointFiveZeroZeroPercentSeniorNotesDueTwentyTwentySevenMember
2020-12-31
0000916076
mlm:TwoPointFiveZeroZeroPercentSeniorNotesDueTwentyThirtyMember
2021-09-30
0000916076
mlm:TwoPointFiveZeroZeroPercentSeniorNotesDueTwentyThirtyMember
2020-12-31
0000916076
mlm:TwoPointFourZeroZeroPercentSeniorNotesDueTwentyThirtyOneMember
2021-09-30
0000916076
mlm:SixPointTwoFivePercentageOfSeniorNotesDueTwoThousandThirtySevenMember
2021-09-30
0000916076
mlm:SixPointTwoFivePercentageOfSeniorNotesDueTwoThousandThirtySevenMember
2020-12-31
0000916076
mlm:FourPointTwoFiveZeroPercentSeniorNotesDueTwentyFourtySevenMember
2021-09-30
0000916076
mlm:FourPointTwoFiveZeroPercentSeniorNotesDueTwentyFourtySevenMember
2020-12-31
0000916076
mlm:ThreePointTwoZeroZeroPercentSeniorNotesDueTwentyFiftyOneMember
2021-09-30
0000916076
mlm:TradeReceivableCreditFacilityMember
2021-09-30
0000916076
mlm:OtherNotesMember
2021-09-30
0000916076
mlm:OtherNotesMember
2020-12-31
0000916076
mlm:ZeroPointSixFiveZeroPercentSeniorNotesDueTwentyTwentyThreeMember
2021-01-01
2021-09-30
0000916076
mlm:FourPointTwoFivePercentSeniorNotesDueTwentyTwentyFourMember
2021-01-01
2021-09-30
0000916076
mlm:SevenPercentDebenturesDueTwentyTwentyFiveMember
2021-01-01
2021-09-30
0000916076
mlm:ThreePointFourFivePercentSeniorNotesDueTwentyTwentySevenMember
2021-01-01
2021-09-30
0000916076
mlm:ThreePointFiveZeroZeroPercentSeniorNotesDueTwentyTwentySevenMember
2021-01-01
2021-09-30
0000916076
mlm:TwoPointFiveZeroZeroPercentSeniorNotesDueTwentyThirtyMember
2021-01-01
2021-09-30
0000916076
mlm:TwoPointFourZeroZeroPercentSeniorNotesDueTwentyThirtyOneMember
2021-01-01
2021-09-30
0000916076
mlm:SixPointTwoFivePercentageOfSeniorNotesDueTwoThousandThirtySevenMember
2021-01-01
2021-09-30
0000916076
mlm:FourPointTwoFiveZeroPercentSeniorNotesDueTwentyFourtySevenMember
2021-01-01
2021-09-30
0000916076
mlm:ThreePointTwoZeroZeroPercentSeniorNotesDueTwentyFiftyOneMember
2021-01-01
2021-09-30
xbrli:pure
0000916076
mlm:ThreePointFourFivePercentSeniorNotesDueTwentyTwentySevenMember
2021-09-30
0000916076
mlm:ZeroPointSixFiveZeroPercentSeniorNotesDueTwentyTwentyThreeMember
2021-07-02
0000916076
mlm:ZeroPointSixFiveZeroPercentSeniorNotesDueTwentyTwentyThreeMember
2021-07-02
2021-07-02
0000916076
mlm:TwoPointFourZeroZeroPercentSeniorNotesDueTwentyThirtyOneMember
2021-07-02
0000916076
mlm:TwoPointFourZeroZeroPercentSeniorNotesDueTwentyThirtyOneMember
2021-07-02
2021-07-02
0000916076
mlm:ThreePointTwoZeroZeroPercentSeniorNotesDueTwentyFiftyOneMember
2021-07-02
0000916076
mlm:ThreePointTwoZeroZeroPercentSeniorNotesDueTwentyFiftyOneMember
2021-07-02
2021-07-02
0000916076
mlm:ZeroPointSixFiveZeroPercentSeniorNotesDueTwentyTwentyThreeMember
us-gaap:DebtInstrumentRedemptionPeriodOneMember
2021-07-02
2021-07-02
0000916076
mlm:ZeroPointSixFiveZeroPercentSeniorNotesDueTwentyTwentyThreeMember
us-gaap:DebtInstrumentRedemptionPeriodOneMember
us-gaap:UsTreasuryUstInterestRateMember
2021-07-02
2021-07-02
0000916076
mlm:ZeroPointSixFiveZeroPercentSeniorNotesDueTwentyTwentyThreeMember
us-gaap:DebtInstrumentRedemptionPeriodTwoMember
2021-07-02
2021-07-02
0000916076
mlm:TwoPointFourZeroZeroPercentSeniorNotesDueTwentyThirtyOneMember
us-gaap:DebtInstrumentRedemptionPeriodThreeMember
2021-07-02
2021-07-02
0000916076
mlm:TwoPointFourZeroZeroPercentSeniorNotesDueTwentyThirtyOneMember
us-gaap:DebtInstrumentRedemptionPeriodThreeMember
us-gaap:UsTreasuryUstInterestRateMember
2021-07-02
2021-07-02
0000916076
mlm:TwoPointFourZeroZeroPercentSeniorNotesDueTwentyThirtyOneMember
us-gaap:DebtInstrumentRedemptionPeriodFourMember
2021-07-02
2021-07-02
0000916076
mlm:ThreePointTwoZeroZeroPercentSeniorNotesDueTwentyFiftyOneMember
us-gaap:DebtInstrumentRedemptionPeriodFiveMember
2021-07-02
2021-07-02
0000916076
mlm:ThreePointTwoZeroZeroPercentSeniorNotesDueTwentyFiftyOneMember
us-gaap:DebtInstrumentRedemptionPeriodFiveMember
us-gaap:UsTreasuryUstInterestRateMember
2021-07-02
2021-07-02
0000916076
mlm:ThreePointTwoZeroZeroPercentSeniorNotesDueTwentyFiftyOneMember
mlm:DebtInstrumentRedemptionPeriodSixMember
2021-07-02
2021-07-02
0000916076
mlm:TradeReceivableCreditFacilityMember
2021-09-22
2021-09-22
0000916076
mlm:TradeReceivableCreditFacilityMember
us-gaap:LondonInterbankOfferedRateLIBORMember
2021-01-01
2021-09-30
0000916076
mlm:TradeReceivableCreditFacilityMember
mlm:ConduitLendersMember
2021-01-01
2021-09-30
0000916076
mlm:TradeReceivableCreditFacilityMember
srt:MaximumMember
2021-09-30
0000916076
mlm:TradeReceivableCreditFacilityMember
2020-12-31
0000916076
us-gaap:RevolvingCreditFacilityMember
2016-12-05
0000916076
us-gaap:RevolvingCreditFacilityMember
2016-12-04
2016-12-05
0000916076
srt:MaximumMember
mlm:IncludingAcquisitionBridgeDebtMember
2021-09-30
0000916076
srt:MaximumMember
mlm:ExcludingAcquisitionBridgeDebtMember
2021-09-30
0000916076
srt:MinimumMember
2021-01-01
2021-09-30
0000916076
us-gaap:RevolvingCreditFacilityMember
2021-09-30
0000916076
us-gaap:RevolvingCreditFacilityMember
2020-12-31
0000916076
us-gaap:RevolvingCreditFacilityMember
2021-01-01
2021-09-30
0000916076
us-gaap:CustomerConcentrationRiskMember
us-gaap:SalesRevenueNetMember
srt:MinimumMember
2021-07-01
2021-09-30
0000916076
us-gaap:CustomerConcentrationRiskMember
us-gaap:SalesRevenueNetMember
srt:MinimumMember
2021-01-01
2021-09-30
0000916076
us-gaap:CustomerConcentrationRiskMember
us-gaap:SalesRevenueNetMember
srt:MinimumMember
2020-07-01
2020-09-30
0000916076
us-gaap:CustomerConcentrationRiskMember
us-gaap:SalesRevenueNetMember
srt:MinimumMember
2020-01-01
2020-09-30
mlm:Customer
0000916076
us-gaap:CustomerConcentrationRiskMember
us-gaap:SalesRevenueNetMember
2021-07-01
2021-09-30
0000916076
us-gaap:CustomerConcentrationRiskMember
us-gaap:SalesRevenueNetMember
2021-01-01
2021-09-30
0000916076
us-gaap:CustomerConcentrationRiskMember
us-gaap:SalesRevenueNetMember
2020-07-01
2020-09-30
0000916076
us-gaap:CustomerConcentrationRiskMember
us-gaap:SalesRevenueNetMember
2020-01-01
2020-09-30
0000916076
us-gaap:PensionPlansDefinedBenefitMember
2021-07-01
2021-09-30
0000916076
us-gaap:PensionPlansDefinedBenefitMember
2020-07-01
2020-09-30
0000916076
us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember
2021-07-01
2021-09-30
0000916076
us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember
2020-07-01
2020-09-30
0000916076
us-gaap:PensionPlansDefinedBenefitMember
2021-01-01
2021-09-30
0000916076
us-gaap:PensionPlansDefinedBenefitMember
2020-01-01
2020-09-30
0000916076
us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember
2021-01-01
2021-09-30
0000916076
us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember
2020-01-01
2020-09-30
0000916076
mlm:RevolvingLineOfCreditExpiresInAugustTwoThousandFifteenMember
2021-01-01
2021-09-30
0000916076
mlm:InterestOnlyLoanMember
2021-09-30
0000916076
mlm:InterestOnlyLoanMember
2020-12-31
0000916076
us-gaap:LondonInterbankOfferedRateLIBORMember
mlm:InterestOnlyLoanMember
2021-01-01
2021-09-30
0000916076
mlm:InterestOnlyLoanMember
2021-01-01
2021-09-30
0000916076
us-gaap:CorporateNonSegmentMember
2021-07-01
2021-09-30
0000916076
us-gaap:CorporateNonSegmentMember
2020-07-01
2020-09-30
0000916076
us-gaap:CorporateNonSegmentMember
2021-01-01
2021-09-30
0000916076
us-gaap:CorporateNonSegmentMember
2020-01-01
2020-09-30
0000916076
us-gaap:OperatingSegmentsMember
mlm:BuildingMaterialsBusinessEastGroupMember
2021-09-30
0000916076
us-gaap:OperatingSegmentsMember
mlm:BuildingMaterialsBusinessEastGroupMember
2020-12-31
0000916076
us-gaap:OperatingSegmentsMember
mlm:BuildingMaterialsBusinessWestGroupMember
2021-09-30
0000916076
us-gaap:OperatingSegmentsMember
mlm:BuildingMaterialsBusinessWestGroupMember
2020-12-31
0000916076
mlm:BuildingMaterialsBusinessMember
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
2020-12-31
0000916076
us-gaap:OperatingSegmentsMember
mlm:MagnesiaSpecialtiesMember
2021-09-30
0000916076
us-gaap:OperatingSegmentsMember
mlm:MagnesiaSpecialtiesMember
2020-12-31
0000916076
us-gaap:CorporateNonSegmentMember
2021-09-30
0000916076
us-gaap:CorporateNonSegmentMember
2020-12-31
0000916076
mlm:AggregatesMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2021-07-01
2021-09-30
0000916076
mlm:AggregatesMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2020-07-01
2020-09-30
0000916076
mlm:AggregatesMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2021-01-01
2021-09-30
0000916076
mlm:AggregatesMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2020-01-01
2020-09-30
0000916076
mlm:CementMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2021-07-01
2021-09-30
0000916076
mlm:CementMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2020-07-01
2020-09-30
0000916076
mlm:CementMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2021-01-01
2021-09-30
0000916076
mlm:CementMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2020-01-01
2020-09-30
0000916076
mlm:ReadyMixedConcreteMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2021-07-01
2021-09-30
0000916076
mlm:ReadyMixedConcreteMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2020-07-01
2020-09-30
0000916076
mlm:ReadyMixedConcreteMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2021-01-01
2021-09-30
0000916076
mlm:ReadyMixedConcreteMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2020-01-01
2020-09-30
0000916076
mlm:AsphaltAndPavingMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2021-07-01
2021-09-30
0000916076
mlm:AsphaltAndPavingMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2020-07-01
2020-09-30
0000916076
mlm:AsphaltAndPavingMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2021-01-01
2021-09-30
0000916076
mlm:AsphaltAndPavingMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
us-gaap:ReportableSubsegmentsMember
mlm:ProductsAndServicesMember
2020-01-01
2020-09-30
0000916076
us-gaap:IntersubsegmentEliminationsMember
2021-07-01
2021-09-30
0000916076
us-gaap:IntersubsegmentEliminationsMember
2020-07-01
2020-09-30
0000916076
us-gaap:IntersubsegmentEliminationsMember
2021-01-01
2021-09-30
0000916076
us-gaap:IntersubsegmentEliminationsMember
2020-01-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2021-07-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2020-07-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2021-01-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2020-01-01
2020-09-30
0000916076
us-gaap:CargoAndFreightMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
2021-07-01
2021-09-30
0000916076
us-gaap:CargoAndFreightMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
2020-07-01
2020-09-30
0000916076
us-gaap:CargoAndFreightMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
2021-01-01
2021-09-30
0000916076
us-gaap:CargoAndFreightMember
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
2020-01-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
2021-07-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
2020-07-01
2020-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
2021-01-01
2021-09-30
0000916076
mlm:BuildingMaterialsBusinessMember
us-gaap:OperatingSegmentsMember
2020-01-01
2020-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2021-07-01
2021-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2020-07-01
2020-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2021-01-01
2021-09-30
0000916076
mlm:MagnesiaSpecialtiesMember
us-gaap:OperatingSegmentsMember
mlm:ProductsAndServicesMember
2020-01-01
2020-09-30
0000916076
us-gaap:OtherOperatingIncomeExpenseMember
mlm:FormerCorporateHeadquartersMember
2021-01-01
2021-09-30
0000916076
us-gaap:OtherOperatingIncomeExpenseMember
us-gaap:LandMember
mlm:WestGroupMember
2020-07-01
2020-09-30
0000916076
us-gaap:OtherOperatingIncomeExpenseMember
us-gaap:LandMember
mlm:WestGroupMember
2020-01-01
2020-09-30
0000916076
us-gaap:OtherNonoperatingIncomeExpenseMember
2021-07-01
2021-09-30
0000916076
us-gaap:OtherNonoperatingIncomeExpenseMember
2021-01-01
2021-09-30
0000916076
us-gaap:OtherNonoperatingIncomeExpenseMember
2020-01-01
2020-09-30
0000916076
us-gaap:SubsequentEventMember
mlm:LehighHansonIncorporationWestRegionMember
2021-10-01
2021-10-01
mlm:Quarry
mlm:Plant
0000916076
us-gaap:SubsequentEventMember
mlm:LehighHansonIncorporationWestRegionMember
2021-10-01
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended September 30, 2021
OR
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission File Number 1-12744
MARTIN MARIETTA MATERIALS, INC.
(Exact name of registrant as specified in its charter)
North Carolina |
|
56-1848578 |
|
(State or other jurisdiction of incorporation or organization) |
|
(I.R.S. Employer Identification Number) |
4123 Parklake Avenue, Raleigh, NC |
|
27612 |
|
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including area code: 919-781-4550
(Former name, former address and former fiscal year, if changes since last report)
Securities registered pursuant to Section 12(b) of the Act:
|
|
|
Title of Each Class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock (Par Value $0.01) |
MLM |
NYSE |
|
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ☑ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes ☑ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer |
|
☑ |
|
Accelerated filer |
|
☐ |
Non-accelerated filer |
|
☐ |
|
Smaller reporting company |
|
☐ |
|
Emerging growth company |
|
☐ |
|
|
|
|
|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Securities Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes ☐ No ☑
Indicate the number of shares outstanding of each of the issuer’s classes of Common Stock, as of the latest practicable date.
Class |
|
Outstanding as of October 28, 2021 |
Common Stock, $0.01 par value |
|
62,381,891 |
MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES
FORM 10-Q
For the Quarter Ended September 30, 2021
Page 2 of 54
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements.
MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES
(UNAUDITED) CONSOLIDATED BALANCE SHEETS
|
|
September 30, |
|
|
December 31, |
|
|
|
2021 |
|
|
2020 |
|
|
|
(Dollars in Millions, Except Par Value Data) |
|
ASSETS |
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
2,381.4 |
|
|
$ |
207.3 |
|
Restricted cash |
|
|
1.7 |
|
|
|
97.1 |
|
Accounts receivable, net |
|
|
801.9 |
|
|
|
575.1 |
|
Inventories, net |
|
|
717.5 |
|
|
|
709.0 |
|
Other current assets |
|
|
98.2 |
|
|
|
79.8 |
|
Total Current Assets |
|
|
4,000.7 |
|
|
|
1,668.3 |
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment |
|
|
9,536.9 |
|
|
|
8,955.0 |
|
Allowances for depreciation, depletion and amortization |
|
|
(3,926.4 |
) |
|
|
(3,712.7 |
) |
Net property, plant and equipment |
|
|
5,610.5 |
|
|
|
5,242.3 |
|
Goodwill |
|
|
2,610.6 |
|
|
|
2,414.0 |
|
Other intangibles, net |
|
|
787.2 |
|
|
|
508.0 |
|
Operating lease right-of-use assets, net |
|
|
417.8 |
|
|
|
453.0 |
|
Other noncurrent assets |
|
|
359.4 |
|
|
|
295.2 |
|
Total Assets |
|
$ |
13,786.2 |
|
|
$ |
10,580.8 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
249.3 |
|
|
$ |
207.8 |
|
Accrued salaries, benefits and payroll taxes |
|
|
65.5 |
|
|
|
82.6 |
|
Accrued other taxes |
|
|
59.4 |
|
|
|
45.4 |
|
Current maturities of long-term debt and short-term facilities |
|
|
20.1 |
|
|
|
— |
|
Accrued interest |
|
|
46.1 |
|
|
|
18.3 |
|
Operating lease liabilities |
|
|
47.3 |
|
|
|
48.6 |
|
Other current liabilities |
|
|
113.5 |
|
|
|
96.6 |
|
Total Current Liabilities |
|
|
601.2 |
|
|
|
499.3 |
|
|
|
|
|
|
|
|
|
|
Long-term debt |
|
|
5,099.4 |
|
|
|
2,625.8 |
|
Deferred income taxes, net |
|
|
809.3 |
|
|
|
781.5 |
|
Noncurrent operating lease liabilities |
|
|
375.9 |
|
|
|
410.4 |
|
Other noncurrent liabilities |
|
|
542.2 |
|
|
|
370.5 |
|
Total Liabilities |
|
|
7,428.0 |
|
|
|
4,687.5 |
|
|
|
|
|
|
|
|
|
|
Equity: |
|
|
|
|
|
|
|
|
Common stock, par value $0.01 per share (62.4 and 62.3 shares
outstanding at September 30, 2021 and December 31, 2020, respectively) |
|
|
0.6 |
|
|
|
0.6 |
|
Preferred stock, par value $0.01 per share |
|
|
— |
|
|
|
— |
|
Additional paid-in capital |
|
|
3,463.3 |
|
|
|
3,440.8 |
|
Accumulated other comprehensive loss |
|
|
(151.4 |
) |
|
|
(158.4 |
) |
Retained earnings |
|
|
3,043.4 |
|
|
|
2,607.7 |
|
Total Shareholders' Equity |
|
|
6,355.9 |
|
|
|
5,890.7 |
|
Noncontrolling interests |
|
|
2.3 |
|
|
|
2.6 |
|
Total Equity |
|
|
6,358.2 |
|
|
|
5,893.3 |
|
Total Liabilities and Equity |
|
$ |
13,786.2 |
|
|
$ |
10,580.8 |
|
See accompanying notes to the consolidated financial statements.
Page 3 of 54
MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES
(UNAUDITED) CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE EARNINGS
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
September 30, |
|
|
September 30, |
|
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
|
(In Millions, Except Per Share Data) |
|
Products and services revenues |
|
$ |
1,462.7 |
|
|
$ |
1,240.7 |
|
|
$ |
3,679.9 |
|
|
$ |
3,321.2 |
|
Freight revenues |
|
|
94.6 |
|
|
|
80.7 |
|
|
|
237.7 |
|
|
|
229.1 |
|
Total Revenues |
|
|
1,557.3 |
|
|
|
1,321.4 |
|
|
|
3,917.6 |
|
|
|
3,550.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues - products and services |
|
|
1,021.0 |
|
|
|
836.1 |
|
|
|
2,676.9 |
|
|
|
2,390.9 |
|
Cost of revenues - freight |
|
|
94.4 |
|
|
|
80.8 |
|
|
|
239.0 |
|
|
|
232.0 |
|
Total Cost of Revenues |
|
|
1,115.4 |
|
|
|
916.9 |
|
|
|
2,915.9 |
|
|
|
2,622.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
441.9 |
|
|
|
404.5 |
|
|
|
1,001.7 |
|
|
|
927.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general & administrative expenses |
|
|
86.0 |
|
|
|
71.1 |
|
|
|
248.2 |
|
|
|
221.0 |
|
Acquisition-related expenses |
|
|
7.4 |
|
|
|
0.4 |
|
|
|
18.0 |
|
|
|
1.2 |
|
Other operating income, net |
|
|
(8.4 |
) |
|
|
(67.6 |
) |
|
|
(28.2 |
) |
|
|
(59.6 |
) |
Earnings from Operations |
|
|
356.9 |
|
|
|
400.6 |
|
|
|
763.7 |
|
|
|
764.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
44.3 |
|
|
|
28.7 |
|
|
|
99.9 |
|
|
|
89.7 |
|
Other nonoperating income, net |
|
|
(5.6 |
) |
|
|
(4.0 |
) |
|
|
(23.8 |
) |
|
|
(5.9 |
) |
Earnings before income tax expense |
|
|
318.2 |
|
|
|
375.9 |
|
|
|
687.6 |
|
|
|
681.0 |
|
Income tax expense |
|
|
63.6 |
|
|
|
81.5 |
|
|
|
141.7 |
|
|
|
143.0 |
|
Consolidated net earnings |
|
|
254.6 |
|
|
|
294.4 |
|
|
|
545.9 |
|
|
|
538.0 |
|
Less: Net earnings attributable to noncontrolling interests |
|
|
— |
|
|
|
— |
|
|
|
0.2 |
|
|
|
— |
|
Net Earnings Attributable to Martin Marietta Materials, Inc. |
|
$ |
254.6 |
|
|
$ |
294.4 |
|
|
$ |
545.7 |
|
|
$ |
538.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated Comprehensive Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings attributable to Martin Marietta Materials, Inc. |
|
$ |
256.2 |
|
|
$ |
298.0 |
|
|
$ |
552.7 |
|
|
$ |
545.2 |
|
Earnings attributable to noncontrolling interests |
|
|
— |
|
|
|
— |
|
|
|
0.2 |
|
|
|
— |
|
|
|
$ |
256.2 |
|
|
$ |
298.0 |
|
|
$ |
552.9 |
|
|
$ |
545.2 |
|
Net Earnings Attributable to Martin Marietta Materials, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Common Share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic attributable to common shareholders |
|
$ |
4.08 |
|
|
$ |
4.72 |
|
|
$ |
8.74 |
|
|
$ |
8.63 |
|
Diluted attributable to common shareholders |
|
$ |
4.07 |
|
|
$ |
4.71 |
|
|
$ |
8.72 |
|
|
$ |
8.61 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-Average Common Shares Outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
62.4 |
|
|
|
62.3 |
|
|
|
62.4 |
|
|
|
62.3 |
|
Diluted |
|
|
62.6 |
|
|
|
62.4 |
|
|
|
62.6 |
|
|
|
62.4 |
|
See accompanying notes to the consolidated financial statements.
Page 4 of 54
MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES
(UNAUDITED) CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
Nine Months Ended |
|
|
|
September 30, |
|
|
|
2021 |
|
|
2020 |
|
|
|
(Dollars in Millions) |
|
Cash Flows from Operating Activities: |
|
|
|
|
|
|
|
|
Consolidated net earnings |
|
$ |
545.9 |
|
|
$ |
538.0 |
|
Adjustments to reconcile consolidated net earnings to net cash
provided by operating activities: |
|
|
|
|
|
|
|
|
Depreciation, depletion and amortization |
|
|
320.0 |
|
|
|
292.2 |
|
Stock-based compensation expense |
|
|
33.0 |
|
|
|
22.4 |
|
Gain on divestitures and sales of assets |
|
|
(26.6 |
) |
|
|
(71.2 |
) |
Deferred income taxes |
|
|
25.7 |
|
|
|
24.8 |
|
Other items, net |
|
|
(8.3 |
) |
|
|
0.8 |
|
Changes in operating assets and liabilities, net of effects of
acquisitions and divestitures: |
|
|
|
|
|
|
|
|
Accounts receivable, net |
|
|
(218.0 |
) |
|
|
(104.5 |
) |
Inventories, net |
|
|
65.1 |
|
|
|
(22.6 |
) |
Accounts payable |
|
|
66.9 |
|
|
|
(0.8 |
) |
Other assets and liabilities, net |
|
|
(23.4 |
) |
|
|
4.9 |
|
Net Cash Provided by Operating Activities |
|
|
780.3 |
|
|
|
684.0 |
|
|
|
|
|
|
|
|
|
|
Cash Flows from Investing Activities: |
|
|
|
|
|
|
|
|
Additions to property, plant and equipment |
|
|
(321.3 |
) |
|
|
(250.8 |
) |
Acquisitions, net of cash acquired |
|
|
(792.9 |
) |
|
|
(64.0 |
) |
Proceeds from divestitures and sales of assets |
|
|
41.4 |
|
|
|
141.2 |
|
Investments in life insurance contracts, net |
|
|
13.9 |
|
|
|
(12.7 |
) |
Other investing activities, net |
|
|
— |
|
|
|
(5.4 |
) |
Net Cash Used for Investing Activities |
|
|
(1,058.9 |
) |
|
|
(191.7 |
) |
|
|
|
|
|
|
|
|
|
Cash Flows from Financing Activities: |
|
|
|
|
|
|
|
|
Borrowings of debt |
|
|
2,896.6 |
|
|
|
628.1 |
|
Repayments of debt |
|
|
(400.0 |
) |
|
|
(777.0 |
) |
Payments on financing leases |
|
|
(7.6 |
) |
|
|
(2.3 |
) |
Debt issuance costs |
|
|
(6.1 |
) |
|
|
(2.0 |
) |
Distributions to owners of noncontrolling interest |
|
|
(0.5 |
) |
|
|
— |
|
Repurchases of common stock |
|
|
— |
|
|
|
(50.0 |
) |
Dividends paid |
|
|
(109.7 |
) |
|
|
(104.8 |
) |
Proceeds from exercise of stock options |
|
|
1.1 |
|
|
|
1.4 |
|
Shares withheld for employees' income tax obligations |
|
|
(16.5 |
) |
|
|
(13.0 |
) |
Net Cash Provided by (Used for) Financing Activities |
|
|
2,357.3 |
|
|
|
(319.6 |
) |
Net Increase in Cash, Cash Equivalents and Restricted Cash |
|
|
2,078.7 |
|
|
|
172.7 |
|
Cash, Cash Equivalents and Restricted Cash, beginning of period |
|
|
304.4 |
|
|
|
21.0 |
|
Cash, Cash Equivalents and Restricted Cash, end of period |
|
$ |
2,383.1 |
|
|
$ |
193.7 |
|
See accompanying notes to the consolidated financial statements.
Page 5 of 54
MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES
(UNAUDITED) CONSOLIDATED STATEMENTS OF TOTAL EQUITY
(In Millions, Except Per Share Data) |
|
Shares of Common Stock |
|
|
Common Stock |
|
|
Additional Paid-in Capital |
|
|
Accumulated
Other Comprehensive
Loss |
|
|
Retained Earnings |
|
|
Total Shareholders' Equity |
|
|
Noncontrolling Interests |
|
|
Total Equity |
|
Balance at June 30, 2021 |
|
|
62.4 |
|
|
$ |
0.6 |
|
|
$ |
3,451.1 |
|
|
$ |
(153.0 |
) |
|
$ |
2,827.2 |
|
|
$ |
6,125.9 |
|
|
$ |
2.3 |
|
|
$ |
6,128.2 |
|
Consolidated net earnings |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
254.6 |
|
|
|
254.6 |
|
|
|
— |
|
|
|
254.6 |
|
Other comprehensive earnings,
net of tax |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1.6 |
|
|
|
|
|
|
|
1.6 |
|
|
|
— |
|
|
|
1.6 |
|
Dividends declared ($0.61 per share) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(38.4 |
) |
|
|
(38.4 |
) |
|
|
— |
|
|
|
(38.4 |
) |
Issuances of common stock for stock
award plans |
|
|
— |
|
|
|
— |
|
|
|
0.4 |
|
|
|
— |
|
|
|
— |
|
|
|
0.4 |
|
|
|
— |
|
|
|
0.4 |
|
Shares withheld for employees'
income tax obligations |
|
|
— |
|
|
|
— |
|
|
|
(0.4 |
) |
|
|
— |
|
|
|
— |
|
|
|
(0.4 |
) |
|
|
— |
|
|
|
(0.4 |
) |
Stock-based compensation expense |
|
|
— |
|
|
|
— |
|
|
|
12.2 |
|
|
|
— |
|
|
|
— |
|
|
|
12.2 |
|
|
|
— |
|
|
|
12.2 |
|
Balance at September 30, 2021 |
|
|
62.4 |
|
|
$ |
0.6 |
|
|
$ |
3,463.3 |
|
|
$ |
(151.4 |
) |
|
$ |
3,043.4 |
|
|
$ |
6,355.9 |
|
|
$ |
2.3 |
|
|
$ |
6,358.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|