0000950170-24-019275 | 10-K | XBRL Viewer | Martin Marietta Materials INC

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Property, Plant and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property Plant And Equipment And Finance Lease Right Of Use Asset Depreciation and Amortization	$ 479.5	$ 472.8	$ 422.4
Capitalized interest	5.3	2.7	$ 5.6
Property, plant and equipment, net	6,185.9	6,316.7
Bahamas And Canada
Property Plant And Equipment [Line Items]
Property, plant and equipment, net	$ 39.5	$ 38.4

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

Note Q: Supplemental Cash Flow Information

Noncash investing and financing activities are as follows:


years ended December 31
(in millions)	2023		2022			2021
Accrued liabilities for purchases of property, plant and equipment	$	128.4	$	152.4		$	92.4
Right-of-use assets obtained in exchange for new operating lease liabilities	$	63.4	$	27.2		$	65.6
Right-of-use assets obtained in exchange for new finance lease liabilities	$	21.9	$	11.7		$	202.3
Remeasurement of operating lease right-of-use assets	$	10.3	$	(2.9	)	$	(12.8	)
Remeasurement of finance lease right-of-use assets	$	—	$	(12.6	)	$	—
Acquisition of assets through asset exchange	$	5.2	$	—		$	—
Accounts payable relieved in connection with sale of property, plant and equipment	$	0.7	$	—		$	—

Supplemental disclosures of cash flow information are as follows:


years ended December 31
(in millions)	2023		2022		2021
Cash paid for interest, net of amount capitalized	$	158.9	$	164.7	$	104.9
Cash paid for income taxes	$	291.5	$	200.6	$	102.9
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	76.6	$	78.6	$	71.8
Operating cash flows used for finance leases	$	4.8	$	4.5	$	3.5
Financing cash flows used for finance leases	$	17.6	$	15.0	$	11.1

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Business Combinations, Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale - Summary of Assets and Liabilities Held for Sale (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Investment land		$ 40.6
Total current assets held for sale	$ 807.1	73.2
Inventories, net		31.3
Other assets		1.3
Property, plant and equipment		124.5
Intangible assets, excluding goodwill		208.5
Operating lease right-of-use assets		12.1
Goodwill		31.9
Valuation allowance for loss on sale		(4.5)
Total noncurrent assets held for sale	0.0	372.5
Lease obligations		(4.5)
Total current liabilities held for sale	(18.2)	(4.5)
Lease obligations		(4.1)
Asset retirement obligations		(17.7)
Total noncurrent liabilities held for sale	0.0	(21.8)
Continuing Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Inventories, net	60.6
Investment land	17.9	40.6
Property, plant and equipment	327.2
Intangible assets, excluding goodwill	122.3
Operating lease right-of-use assets	15.4
Goodwill	260.0
Total current assets held for sale	807.1	40.6
Lease obligations	(16.3)
Asset retirement obligations	(1.9)
Other assets	3.7
Total current liabilities held for sale	$ (18.2)
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total current assets held for sale		32.6
Inventories, net		31.3
Other assets		1.3
Property, plant and equipment		124.5
Intangible assets, excluding goodwill		208.5
Operating lease right-of-use assets		12.1
Goodwill		31.9
Valuation allowance for loss on sale		(4.5)
Total noncurrent assets held for sale		372.5
Lease obligations		(4.5)
Total current liabilities held for sale		(4.5)
Lease obligations		(4.1)
Asset retirement obligations		(17.7)
Total noncurrent liabilities held for sale		$ (21.8)

Document and Entity Information - USD ($)

12 Months Ended

Dec. 31, 2023

Feb. 19, 2024

Jun. 30, 2023

Cover [Abstract]

Document Type

10-K

Amendment Flag

false

Document Fiscal Year Focus

2023

Document Period End Date

Dec. 31, 2023

Document Annual Report

true

Document Transition Report

false

Entity File Number

1-12744

Entity Registrant Name

MARTIN MARIETTA MATERIALS, INC.

Document Fiscal Period Focus

Trading Symbol

MLM

Entity Central Index Key

0000916076

Entity Incorporation, State or Country Code

Entity Tax Identification Number

56-1848578

Entity Address, Address Line One

4123 Parklake Avenue

Entity Address, City or Town

Raleigh

Entity Address, State or Province

Entity Address, Postal Zip Code

27612

City Area Code

919

Local Phone Number

781-4550

Title of 12(b) Security

Common Stock (par value $.01 per share)

Security Exchange Name

NYSE

Entity Well-known Seasoned Issuer

Yes

Entity Voluntary Filers

Entity Current Reporting Status

Yes

Entity Interactive Data Current

Yes

Entity Filer Category

Large Accelerated Filer

Entity Shell Company

false

Entity Common Stock, Shares Outstanding

61,822,465

Entity Public Float

$ 25,108,651,455

Entity Emerging Growth Company

false

Entity Small Business

false

Current Fiscal Year End Date

--12-31

ICFR Auditor Attestation Flag

true

Document Financial Statement Error Correction [Flag]

false

Auditor Name

PricewaterhouseCoopers LLP

Auditor Firm ID

238

Auditor Location

Raleigh, North Carolina, United States

Documents Incorporated by Reference

DOCUMENTS INCORPORATED BY REFERENCE


Document		Parts Into Which Incorporated
Proxy Statement for the Annual Meeting of Shareholders to be held May 16, 2024 (Proxy Statement)		Part III

Retirement Plans, Postretirement and Postemployment Benefits - Schedule of Assumed Health Care Cost Trend Rate (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Health care cost trend rate assumed for next year	6.50%	6.75%
Rate to which the cost trend rate gradually declines	4.75%	4.75%
Year the rate reaches the ultimate rate	2031	2031

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Components of Lease Cost

The components of lease cost are as follows:


years ended December 31 (in millions)	2023		2022		2021
Operating lease cost	$	76.5	$	73.1	$	72.9
Finance lease cost:
Amortization of right-of-use assets		21.2		18.3		14.3
Interest on lease liabilities		4.8		4.4		3.5
Variable lease cost		18.5		16.5		17.9
Short-term lease cost		46.2		45.2		32.3
Total lease cost	$	167.2	$	157.5	$	140.9

Summary of Balance Sheet Classifications of Operating and Finance Leases

The balance sheet classifications of operating and finance leases are as follows:


December 31 (in millions)	2023			2022
Operating leases:
Operating lease right-of-use assets	$	371.6		$	383.5

Current operating lease liabilities	$	53.3		$	52.1
Noncurrent operating lease liabilities		326.7			335.9
Total operating lease liabilities	$	380.0		$	388.0

Finance leases:
Property, plant and equipment	$	253.5		$	236.9
Accumulated depreciation		(58.8	)		(39.4	)
Property, plant and equipment, net	$	194.7		$	197.5

Other current liabilities	$	20.1		$	17.8
Other noncurrent liabilities		179.5			182.1
Total finance lease liabilities	$	199.6		$	199.9

Summary of Weighted-average Remaining Lease Terms and Discount Rates

Weighted-average remaining lease terms and discount rates are as follows:


December 31		2023		2022
Weighted-average remaining lease terms (years):
Operating leases	11.7		12.2
Finance leases	18.3		19.1

Weighted-average discount rates:
Operating leases	4.3%		4.0%
Finance leases	2.6%		2.3%

Summary of Future Lease Payments

Future lease payments as of December 31, 2023 are as follows:


	Operating			Finance
(in millions)	Leases			Leases
2024	$	69.1		$	25.0
2025		60.8			21.1
2026		52.2			13.9
2027		42.1			12.8
2028		36.4			12.0
Thereafter		254.3			171.5
Total lease payments		514.9			256.3
Less: imputed interest		(119.4	)		(55.9	)
Present value of lease payments		395.5			200.4
Less: leases classified as held for sale		(15.5	)		(0.8	)
Less: current lease obligations		(53.3	)		(20.1	)
Total long-term lease obligations	$	326.7		$	179.5

Business Combinations, Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale - Summary of Discontinued Operations (Detail) - USD ($) $ in Millions		12 Months Ended
	Oct. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Total revenues		$ 94.2	$ 308.6	$ 79.2
Pretax (loss) earnings from operations		(16.3)	16.2	6.6
Pretax loss on divestitures and sales of assets	$ (26.3)	(24.0)	(0.7)	(6.0)
Pretax (loss) earnings		(40.3)	15.5	0.6
Income tax (benefit) expense		(9.4)	5.0	0.1
(Loss) Earnings from discontinued operations, net of income tax (benefit) expense		(30.9)	10.5	0.5
Net cash provided by (used for) operating activities		0.6	(31.6)	(8.2)
Additions to property, plant and equipment		(3.0)	(15.5)	(3.7)
Proceeds from divestitures and sales of assets		372.0	249.9	0.0
Net cash provided by (used for) investing activities		$ 369.0	$ 234.4	$ (3.7)

Retirement Plans, Postretirement and Postemployment Benefits - Schedule of Accumulated Benefit Obligations in Excess of Plan Assets (Detail) - Pension - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 100.7	$ 86.3
Accumulated benefit obligation	90.9	79.5
Fair value of plan assets	$ 0.5	$ 0.5

Long-Term Debt - Long-Term Debt (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total debt	$ 4,345.2	$ 5,040.0
Less: current maturities	(399.6)	(699.1)
Long-term debt	3,945.6	4,340.9
0.650% Senior Notes, Due 2023
Debt Instrument [Line Items]
Total debt	0.0	699.1
4.250% Senior Notes, Due 2024
Debt Instrument [Line Items]
Total debt	399.6	398.9
7% Debentures, Due 2025
Debt Instrument [Line Items]
Total debt	124.8	124.7
3.450% Senior Notes, Due 2027
Debt Instrument [Line Items]
Total debt	298.7	298.3
3.500% Senior Notes, Due 2027
Debt Instrument [Line Items]
Total debt	492.2	491.5
2.500% Senior Notes, Due 2030
Debt Instrument [Line Items]
Total debt	471.5	470.5
2.400% Senior Notes, Due 2031
Debt Instrument [Line Items]
Total debt	889.4	888.6
6.25% Senior Notes, Due 2037
Debt Instrument [Line Items]
Total debt	228.4	228.4
4.250% Senior Notes, Due 2047
Debt Instrument [Line Items]
Total debt	590.4	590.2
3.200% Senior Notes, Due 2051
Debt Instrument [Line Items]
Total debt	$ 850.2	$ 849.8

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary Information for Restricted Stock Awards and Incentive Compensation Stock Awards

The following table summarizes information for restricted stock awards and incentive compensation stock awards for 2023:


	Restricted Stock - Service Based					Restricted Stock - Performance Based					Incentive Compensation Stock
	Number of Awards			Weighted- Average Grant-Date Fair Value		Number of Awards			Weighted- Average Grant-Date Fair Value		Number of Awards			Weighted- Average Grant-Date Fair Value
January 1, 2023		215,644		$	272.86		103,795		$	339.17		32,149		$	341.72
Awarded		60,982		$	369.18		33,103		$	392.73		4,012		$	362.08
Distributed		(59,184	)	$	305.80		(70,370	)	$	266.97		(18,835	)	$	325.48
Forfeited		(6,799	)	$	341.96		(1,626	)	$	371.00		—		$	—
Adjustment for performance		—		$	—		33,248		$	266.97		—		$	—
December 31, 2023		210,643		$	289.26		98,150		$	384.02		17,326		$	364.09

Summary Information for Stock Options

The following table includes summary information for stock options as of December 31, 2023:


	Number of Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (years)
Outstanding at January 1, 2023		15,283		$	136.55
Exercised		(9,180	)	$	131.50
Outstanding at December 31, 2023		6,103		$	144.14		1.1

Exercisable at December 31, 2023		6,103		$	144.14		1.1

Schedule of Stock-Based Compensation Expense

The following table summarizes stock-based compensation expense for the years ended December 31, 2023, 2022 and 2021, unrecognized compensation cost for nonvested awards at December 31, 2023 and the weighted-average period over which unrecognized compensation cost will be recognized:


(in millions, except year data)	Restricted Stock		Incentive Compensation Stock		Directors’ Fees Paid in Stock		Total
Stock-based compensation expense recognized for years ended December 31:
2023	$	48.7	$	0.8	$	0.5	$	50.0
2022	$	41.0	$	1.1	$	0.6	$	42.7
2021	$	41.4	$	1.0	$	0.6	$	43.0
Unrecognized compensation cost at December 31, 2023	$	39.5	$	0.4	$	—	$	39.9
Weighted-average period over which unrecognized compensation cost will be recognized	1.8 years		1.3 years

Stock-Based Compensation Expense in Future for Outstanding Awards

The following presents expected stock-based compensation expense in future periods for outstanding awards as of December 31, 2023:


(in millions)
2024	$	28.2
2025		9.1
2026		1.8
2027		0.7
2028		0.1
Total	$	39.9

Commitments and Contingencies - Schedule of Future Minimum Contracts of Affreightment and Royalty Commitments for All Noncancelable Agreements (Detail) $ in Millions	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 16.9
2025	17.1
2026	17.4
2027	17.7
2028	0.0
Thereafter	0.0
Total	69.1
2024	26.4
2025	14.1
2026	11.7
2027	11.2
2028	8.0
Thereafter	77.4
Total	$ 148.8

Long-Term Debt - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jul. 17, 2023	Sep. 29, 2022
Debt Instrument [Line Items]
Interest rate on notes			0.65%	0.65%
Debt instrument redemption price percentage	100.00%
Outstanding letters of credit	$ 32,200,000
Maximum consolidated debt reduction for unrestricted cash and temporary investments for debt covenant calculation	$ 500,000,000
Including Acquisition Bridge Debt \| Maximum
Debt Instrument [Line Items]
Debt covenant	3.5
Excluding Acquisition Bridge Debt \| Maximum
Debt Instrument [Line Items]
Debt covenant	4
Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument redemption price percentage	101.00%
Principal amount of stock repurchased during the period	$ 0	$ 67,700,000
Revolving Facility
Debt Instrument [Line Items]
Credit facility commitment	$ 800,000,000
Senior unsecured revolving facility, maturity period	5 years
Debt instrument maturity period	Dec. 21, 2028
Outstanding letters of credit	$ 2,600,000	2,600,000
Available for borrowing under revolving facility	797,400,000	797,400,000
Outstanding borrowing under credit facility	$ 0	0
0.650% Senior Notes, Due 2023
Debt Instrument [Line Items]
Debt instrument, face amount		$ 700,000,000
Interest rate on notes	0.65%	0.65%
Maturity year	2023	2023
2.400% Senior Notes, Due 2031
Debt Instrument [Line Items]
Debt instrument, face amount	$ 895,900,000
Interest rate on notes	2.40%
Maturity year	2031
3.200% Senior Notes, Due 2051
Debt Instrument [Line Items]
Debt instrument, face amount	$ 865,900,000
Interest rate on notes	3.20%
Maturity year	2051
2.500% Senior Notes, Due 2030
Debt Instrument [Line Items]
Interest rate on notes	2.50%
Maturity year	2030
4.25% Senior Notes, Due 2024
Debt Instrument [Line Items]
Interest rate on notes	4.25%
Maturity year	2024
7% Debentures, Due 2025
Debt Instrument [Line Items]
Debt instrument, face amount	$ 125,000,000
Interest rate on notes	7.00%
Maturity year	2025
3.450% Senior Notes, Due 2027
Debt Instrument [Line Items]
Debt instrument, face amount	$ 300,000,000
Interest rate on notes	3.45%
Maturity year	2027
3.500% Senior Notes, Due 2027
Debt Instrument [Line Items]
Debt instrument, face amount	$ 494,600,000
Interest rate on notes	3.50%
Maturity year	2027
6.25% Senior Notes, Due 2037
Debt Instrument [Line Items]
Debt instrument, face amount	$ 230,000,000
Interest rate on notes	6.25%
Maturity year	2037
4.250% Senior Notes, Due 2047
Debt Instrument [Line Items]
Debt instrument, face amount	$ 597,900,000
Interest rate on notes	4.25%
Maturity year	2047
Trade Receivable Facility
Debt Instrument [Line Items]
Credit facility commitment	$ 400,000,000
Debt instrument maturity period	Sep. 19, 2024
Outstanding borrowing under credit facility	$ 0	$ 0
Trade Receivable Facility \| Maximum
Debt Instrument [Line Items]
Credit facility commitment	$ 500,000,000
Trade Receivable Facility \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	0.70%

Other Operating Income, Net - Additional Information (Detail) - USD ($) $ in Millions		12 Months Ended
	Apr. 01, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Other operating income and expenses, net		$ 28.4	$ 189.2	$ 34.3
Colorado and Central Texas
Property, Plant and Equipment [Line Items]
Gain on sale of investment	$ 151.9		$ 151.9
Land
Property, Plant and Equipment [Line Items]
Other operating income and expenses, net		$ 19.5
Corporate headquarters
Property, Plant and Equipment [Line Items]
Gain on sale of investment				$ 21.6

Business Combinations, Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale

12 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

Business Combinations, Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale

Note B: Business Combinations, Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale

Business Combinations

On January 12, 2024, the Company wholly acquired Albert Frei & Sons, Inc. (AFS), a leading aggregates producer in Colorado. This acquisition provides more than 60 years (at 2023 production levels) of high-quality, hard rock reserves to better serve new and existing customers and enhances the Company's aggregates platform in the high-growth Denver metropolitan area.

On February 11, 2024, the Company entered into a definitive agreement to acquire 20 active aggregates operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia from affiliates of Blue Water Industries LLC (BWI Southeast) for $2.05 billion in cash. The BWI Southeast acquisition complements Martin Marietta’s existing geographic footprint in the dynamic southeast region by allowing the Company to expand into new growth platforms in target markets including Nashville and Miami. The transaction is expected to close during 2024, subject to regulatory approvals and other customary closing conditions.

Divestitures

On November 21, 2023, the Company announced that it entered into a definitive agreement to sell its South Texas cement business and certain of its related ready mixed concrete operations to CRH Americas Materials, Inc., a subsidiary of CRH plc, for $2.1 billion in cash. Specifically, the facilities to be divested include the Hunter cement plant in New Braunfels, Texas, related cement distribution terminals and 20 ready mixed concrete plants serving the Austin and San Antonio region. These operations are reported in the West Group and classified as assets held for sale as of December 31, 2023. The transaction, which optimizes the Company's product mix portfolio and provides additional balance sheet flexibility to redeploy net proceeds into pure-play aggregates acquisitions, closed on February 9, 2024.

On October 31, 2023, the Company completed the sale of its Tehachapi, California cement plant to UNACEM Corp S.A.A. for $315.0 million in cash. In connection with the divestiture, the Company recorded a $26.3 million pretax loss in discontinued operations.

In May 2023, the Company divested its Stockton cement import terminal in California.

In June 2022, the Company completed the sale of its Redding, California cement plant, related cement distribution terminals and 14 California ready mix operations for $235.0 million in cash. In addition, on July 15, 2022, the Company sold its interest in a joint venture that operates a California cement distribution terminal for $15.0 million.

In April 2022, the Company divested its Colorado and Central Texas ready mixed concrete operations to Smyrna Ready Mix Concrete LLC. This transaction optimized the Company's aggregates-led portfolio and improved its ability to generate more attractive margins over the long term by reducing both business cyclicality and exposure to raw material cost inflation. The transaction resulted in a pretax gain of $151.9 million, which was included in Other operating income, net, on the Company's consolidated statement of earnings for the year ended December 31, 2022 and was inclusive of expenses incurred due to the divestiture. The divested operations and the gain on divestiture were all reported in the West Group.

Discontinued Operations

Since October 1, 2021 and through their respective divestiture dates, the aforementioned California cement and ready mix operations were part of the Company's West Group and classified as assets held for sale on the Company’s consolidated balance sheets and the associated financial results were reported as discontinued operations on the consolidated statements of earnings. As of December 31, 2023, there were no operations classified as discontinued operations.

Financial results for the Company's discontinued operations are as follows:


years ended December 31 (in millions)	2023			2022			2021
Total revenues	$	94.2		$	308.6		$	79.2

Pretax (loss) earnings from operations	$	(16.3	)	$	16.2		$	6.6
Pretax loss on divestitures and sales of assets		(24.0	)		(0.7	)		(6.0	)
Pretax (loss) earnings		(40.3	)		15.5			0.6
Income tax (benefit) expense		(9.4	)		5.0			0.1
(Loss) Earnings from discontinued operations, net of income tax (benefit) expense	$	(30.9	)	$	10.5		$	0.5

Cash flow information for the Company's discontinued operations is as follows:


years ended December 31 (in millions)	2023			2022			2021
Net cash provided by (used for) operating activities	$	0.6		$	(31.6	)	$	(8.2	)
Additions to property, plant and equipment	$	(3.0	)	$	(15.5	)	$	(3.7	)
Proceeds from divestitures and sales of assets		372.0			249.9			—
Net cash provided by (used for) investing activities	$	369.0		$	234.4		$	(3.7	)

Assets and Liabilities Held for Sale

Current assets and current liabilities held for sale at December 31, 2023 included the South Texas cement plant, related cement distribution terminals, 20 ready mixed concrete plants that serve the Austin and San Antonio region and certain nonoperating land. At December 31, 2022, assets and liabilities held for sale included the Tehachapi, California cement plant that was sold in October 2023, the Stockton, California cement terminal that was sold in May 2023 and certain nonoperating land.

Assets and liabilities held for sale are as follows:


	2023
December 31 (in millions)	Continuing Operations
Inventories, net	$	60.6
Investment land		17.9
Other assets		3.7
Property, plant and equipment		327.2
Intangible assets, excluding goodwill		122.3
Operating lease right-of-use assets		15.4
Goodwill		260.0
Total current assets held for sale	$	807.1

Lease obligations	$	(16.3	)
Asset retirement obligations		(1.9	)
Total current liabilities held for sale	$	(18.2	)


	2022
December 31 (in millions)	Continuing Operations		Discontinued Operations			Total
Inventories, net	$	—	$	31.3		$	31.3
Investment land		40.6		—			40.6
Other assets		—		1.3			1.3
Total current assets held for sale	$	40.6	$	32.6		$	73.2

Property, plant and equipment	$	—	$	124.5		$	124.5
Intangible assets, excluding goodwill		—		208.5			208.5
Operating lease right-of-use assets		—		12.1			12.1
Goodwill		—		31.9			31.9
Valuation allowance for loss on sale		—		(4.5	)		(4.5	)
Total noncurrent assets held for sale	$	—	$	372.5		$	372.5

Lease obligations	$	—	$	(4.5	)	$	(4.5	)
Total current liabilities held for sale	$	—	$	(4.5	)	$	(4.5	)

Lease obligations	$	—	$	(4.1	)	$	(4.1	)
Asset retirement obligations		—		(17.7	)		(17.7	)
Total noncurrent liabilities held for sale	$	—	$	(21.8	)	$	(21.8	)

Income Taxes - Summary of Effective Income Tax Rate On Continuing Operations (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Statutory income tax rate	21.00%	21.00%	21.00%
Effect of statutory depletion	(2.30%)	(2.40%)	(3.50%)
State income taxes, net of federal tax benefit	2.10%	2.90%	2.30%
Federal tax credits	(1.00%)	(0.90%)	(1.40%)
Other items	(0.20%)	0.90%	(0.50%)
Effective income tax rate	19.60%	21.50%	17.90%

Inventories, Net

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventories, Net

Note E: Inventories, Net


December 31 (in millions)	2023			2022
Finished products	$	1,151.8		$	932.4
Products in process		25.0			24.8
Raw materials		59.9			71.7
Supplies and expendable parts		154.6			153.1
Total inventories		1,391.3			1,182.0
Less: allowances		(402.7	)		(308.3	)
Inventories, net	$	988.6		$	873.7

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 1,168.9	$ 866.8	$ 702.5

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 3
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (f)
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-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 10
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-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 45
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-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/exampleRef
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

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-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
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Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
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-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

Note L: Leases

The Company has leases, primarily for equipment, railcars, fleet vehicles, office space, land, information technology equipment and software. The Company’s leases have remaining lease terms ranging from less than one year to 96 years, some of which may include options to extend the leases for up to 30 years, and some of which may include options to terminate the leases within one year.

Certain of the Company’s lease agreements include payments based upon variable rates, including, but not limited to, hours used, tonnage processed and factors related to indices. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The components of lease cost are as follows:


years ended December 31 (in millions)	2023		2022		2021
Operating lease cost	$	76.5	$	73.1	$	72.9
Finance lease cost:
Amortization of right-of-use assets		21.2		18.3		14.3
Interest on lease liabilities		4.8		4.4		3.5
Variable lease cost		18.5		16.5		17.9
Short-term lease cost		46.2		45.2		32.3
Total lease cost	$	167.2	$	157.5	$	140.9

The Company has royalty agreements that are prescriptively excluded from the scope of ASC 842 and generally require royalty payments based on tons produced, tons sold or total sales dollars and also contain minimum payments. Royalty expense was $86.2 million, $78.2 million and $67.1 million for the years ended December 31, 2023, 2022 and 2021, respectively.

The balance sheet classifications of operating and finance leases are as follows:


December 31 (in millions)	2023			2022
Operating leases:
Operating lease right-of-use assets	$	371.6		$	383.5

Current operating lease liabilities	$	53.3		$	52.1
Noncurrent operating lease liabilities		326.7			335.9
Total operating lease liabilities	$	380.0		$	388.0

Finance leases:
Property, plant and equipment	$	253.5		$	236.9
Accumulated depreciation		(58.8	)		(39.4	)
Property, plant and equipment, net	$	194.7		$	197.5

Other current liabilities	$	20.1		$	17.8
Other noncurrent liabilities		179.5			182.1
Total finance lease liabilities	$	199.6		$	199.9

The incremental borrowing rate ranged from 0.0% to 6.0% for the years ended December 31, 2023 and 2022. Weighted-average remaining lease terms and discount rates are as follows:


December 31		2023		2022
Weighted-average remaining lease terms (years):
Operating leases	11.7		12.2
Finance leases	18.3		19.1

Weighted-average discount rates:
Operating leases	4.3%		4.0%
Finance leases	2.6%		2.3%

Future lease payments as of December 31, 2023 are as follows:


	Operating			Finance
(in millions)	Leases			Leases
2024	$	69.1		$	25.0
2025		60.8			21.1
2026		52.2			13.9
2027		42.1			12.8
2028		36.4			12.0
Thereafter		254.3			171.5
Total lease payments		514.9			256.3
Less: imputed interest		(119.4	)		(55.9	)
Present value of lease payments		395.5			200.4
Less: leases classified as held for sale		(15.5	)		(0.8	)
Less: current lease obligations		(53.3	)		(20.1	)
Total long-term lease obligations	$	326.7		$	179.5

Retirement Plans, Postretirement and Postemployment Benefits - Schedule of Target Assets Allocation (Detail)	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Other securities, Target Allocation	100.00%
Total	100.00%	100.00%
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Other securities, Target Allocation	56.00%
Total	53.00%	54.00%
Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Other securities, Target Allocation	28.00%
Total	27.00%	24.00%
Real Estate
Defined Benefit Plan Disclosure [Line Items]
Other securities, Target Allocation	10.00%
Total	12.00%	14.00%
Private infrastructure
Defined Benefit Plan Disclosure [Line Items]
Other securities, Target Allocation	6.00%
Total	8.00%	8.00%

Supplemental Cash Flow Information - Supplemental Disclosures of Cash Flow Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest, net of amount capitalized	$ 158.9	$ 164.7	$ 104.9
Cash paid for income taxes	291.5	200.6	102.9
Operating cash flows used for operating leases	76.6	78.6	71.8
Operating cash flows used for finance leases	4.8	4.5	3.5
Financing cash flows used for finance leases	$ 17.6	$ 15.0	$ 11.1

Revenues and Gross Profit - Additional Information (Detail 1)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue Recognition [Line Items]
Performance obligations, customer satisfaction period	22 months
Minimum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Recognition [Line Items]
Performance obligations, customer satisfaction period			3 months
Minimum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue Recognition [Line Items]
Performance obligations, customer satisfaction period		2 months
Minimum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue Recognition [Line Items]
Performance obligations, customer satisfaction period	1 month
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Recognition [Line Items]
Performance obligations, customer satisfaction period			12 months
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue Recognition [Line Items]
Performance obligations, customer satisfaction period		34 months

Goodwill and Other Intangible Assets - Intangible Assets Deemed to Indefinite Life that are Therefore Not Amortized (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite life intangible assets	$ 34.1	$ 35.8
Operating Permits
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite life intangible assets	6.6	6.6
Use Rights
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite life intangible assets	25.0	26.7
Trade names
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite life intangible assets	2.5	2.5
Building Materials Business
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite life intangible assets	31.6	33.3
Building Materials Business \| Operating Permits
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite life intangible assets	6.6	6.6
Building Materials Business \| Use Rights
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite life intangible assets	25.0	26.7
Building Materials Business \| Trade names
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite life intangible assets	0.0	0.0
Magnesia Specialties
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite life intangible assets	2.5	2.5
Magnesia Specialties \| Operating Permits
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite life intangible assets	0.0	0.0
Magnesia Specialties \| Use Rights
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite life intangible assets	0.0	0.0
Magnesia Specialties \| Trade names
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite life intangible assets	$ 2.5	$ 2.5

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Components of Income Tax Expense From Continuing Operations

The components of the Company’s income tax expense from continuing operations are as follows:


years ended December 31 (in millions)	2023			2022		2021
Federal income taxes:
Current	$	264.0		$	174.9	$	66.3
Deferred		(11.4	)		18.0		61.4
Total federal income taxes		252.6			192.9		127.7
State income taxes:
Current		42.7			35.1		18.7
Deferred		(3.0	)		5.3		6.5
Total state income taxes		39.7			40.4		25.2
Foreign income taxes:
Current		0.2			1.2		—
Deferred		—			0.3		0.3
Total foreign income taxes		0.2			1.5		0.3
Income tax expense	$	292.5		$	234.8	$	153.2

Summary of Effective Income Tax Rate On Continuing Operations

The Company’s effective income tax rate on continuing operations varied from the statutory United States income tax rate because of the following tax differences:


years ended December 31	2023			2022			2021
Statutory income tax rate		21.0	%		21.0	%		21.0	%
(Reduction) increase resulting from:
Effect of statutory depletion		(2.3	)		(2.4	)		(3.5	)
State income taxes, net of federal tax benefit		2.1			2.9			2.3
Federal tax credits		(1.0	)		(0.9	)		(1.4	)
Other items		(0.2	)		0.9			(0.5	)
Effective income tax rate		19.6	%		21.5	%		17.9	%

The higher 2022 effective tax rate versus 2023 and 2021 was primarily driven by the impact of the divestiture of the Colorado and Central Texas ready mixed concrete businesses.

Components of Deferred Tax Assets and Liabilities

The principal components of the Company’s deferred tax assets and liabilities are as follows:


December 31	Deferred Assets (Liabilities)
(in millions)	2023			2022
Deferred tax assets related to:
Inventories	$	121.0		$	85.5
Valuation and other reserves		34.2			30.9
Net operating loss carryforwards		2.8			3.6
Accumulated other comprehensive loss		53.8			50.1
Lease liabilities		141.9			139.6
Other items, net		3.6			1.9
Gross deferred tax assets		357.3			311.6
Valuation allowance on deferred tax assets		(2.5	)		(2.6	)
Total net deferred tax assets		354.8			309.0
Deferred tax liabilities related to:
Property, plant and equipment		(828.0	)		(843.8	)
Goodwill and other intangibles		(168.3	)		(143.9	)
Right-of-use assets		(142.3	)		(140.8	)
Partnerships and joint ventures		(34.0	)		(32.5	)
Employee benefits		(56.8	)		(62.3	)
Total deferred tax liabilities		(1,229.4	)		(1,223.3	)
Deferred income taxes, net	$	(874.6	)	$	(914.3	)

Schedule of Unrecognized Tax Benefits Excluding Interest Correlative Effects

The following table summarizes the Company’s unrecognized tax benefits, excluding interest and correlative effects of $0.1 million for the years ended December 31, 2023, 2022 and 2021:


years ended December 31 (in millions)	2023			2022			2021
Unrecognized tax benefits at beginning of year	$	3.6		$	5.4		$	8.2
Gross increases – tax positions in prior years		0.3			—			0.5
Gross decreases – tax positions in prior years		—			—			—
Gross increases – tax positions in current year		0.3			0.2			0.1
Gross decreases – tax positions in current year		—			—			—
Lapse of statute of limitations		(3.1	)		(2.0	)		(3.4	)
Unrecognized tax benefits at end of year	$	1.1		$	3.6		$	5.4

Amount that, if recognized, would favorably impact the effective tax rate	$	1.2		$	3.7		$	5.5

Property, Plant and Equipment, Net - Property, Plant and Equipment, Net (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Total property, plant and equipment	$ 10,707.9	$ 10,661.0
Less: accumulated depreciation, depletion and amortization	(4,522.0)	(4,344.3)
Property, plant and equipment, net	6,185.9	6,316.7
Land and Land Improvements
Property Plant And Equipment [Line Items]
Total property, plant and equipment	1,599.0	1,519.2
Mineral Reserves and Interests
Property Plant And Equipment [Line Items]
Total property, plant and equipment	2,982.4	2,917.8
Buildings
Property Plant And Equipment [Line Items]
Total property, plant and equipment	160.3	164.1
Machinery and Equipment
Property Plant And Equipment [Line Items]
Total property, plant and equipment	5,379.7	5,484.5
Construction in Progress
Property Plant And Equipment [Line Items]
Total property, plant and equipment	333.0	338.5
Finance Lease Right Of Use Assets
Property Plant And Equipment [Line Items]
Total property, plant and equipment	$ 253.5	$ 236.9

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 1,271,800,000	$ 358,000,000
Restricted cash	10,500,000	800,000
Restricted investments	0	704,600,000
Accounts receivable, net	753,300,000	785,900,000
Inventories, net	988,600,000	873,700,000
Current assets held for sale	807,100,000	73,200,000
Other current assets	87,600,000	80,700,000
Total Current Assets	3,918,900,000	2,876,900,000
Property, plant and equipment, net	6,185,900,000	6,316,700,000
Goodwill	3,389,500,000	3,649,500,000
Other intangibles, net	697,700,000	847,800,000
Operating lease right-of-use assets, net	371,600,000	383,500,000
Noncurrent assets held for sale	0	372,500,000
Other noncurrent assets	561,300,000	546,700,000
Total Assets	15,124,900,000	14,993,600,000
Current Liabilities:
Accounts payable	343,300,000	385,000,000
Accrued salaries, benefits and payroll taxes	102,300,000	71,600,000
Accrued other taxes	53,300,000	55,400,000
Accrued interest	40,500,000	42,800,000
Current maturities of long-term debt, including discharged debt	399,600,000	699,100,000
Current operating lease liabilities	53,300,000	52,100,000
Current liabilities held for sale	18,200,000	4,500,000
Other current liabilities	159,700,000	135,100,000
Total Current Liabilities	1,170,200,000	1,445,600,000
Long-term debt	3,945,600,000	4,340,900,000
Deferred income taxes, net	874,600,000	914,300,000
Noncurrent operating lease liabilities	326,700,000	335,900,000
Noncurrent liabilities held for sale	0	21,800,000
Noncurrent asset retirement obligations	383,100,000	377,700,000
Other noncurrent liabilities	389,100,000	384,600,000
Total Liabilities	7,089,300,000	7,820,800,000
Equity:
Common stock, par value $0.01 per share; 100,000,000 shares authorized; 61,821,421 shares and 62,102,353 shares outstanding at December 31, 2023 and 2022, respectively)	600,000	600,000
Preferred stock ($0.01 par value; 10,000,000 shares authorized; no shares outstanding)	0	0
Additional paid-in capital	3,519,200,000	3,489,000,000
Accumulated other comprehensive loss	(49,200,000)	(38,500,000)
Retained earnings	4,562,600,000	3,719,400,000
Total Shareholders’ Equity	8,033,200,000	7,170,500,000
Noncontrolling interests	2,400,000	2,300,000
Total Equity	8,035,600,000	7,172,800,000
Total Liabilities and Equity	$ 15,124,900,000	$ 14,993,600,000

Stock-Based Compensation - Stock-Based Compensation Expense in Future for Outstanding Awards (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Share-Based Payment Arrangement [Abstract]
2024	$ 28.2
2025	9.1
2026	1.8
2027	0.7
2028	0.1
Total	$ 39.9

Other Nonoperating Income, Net - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Component of Other Operating Income and Expense [Line Items]
Other nonoperating income, net	$ 62.1	$ 53.4	$ 24.4
Other Nonoperating Income, Net
Component of Other Operating Income and Expense [Line Items]
Gain on repurchase of bond		12.0
Interest income	46.7	13.6
Third-party railroad track maintenance expense	$ 8.9	$ 8.2	$ 7.7

Commitments and Contingencies - Contractual Purchase Commitments (Detail) $ in Millions	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 247.2
2025	39.1
2026	28.7
2027	14.1
2028	14.4
Thereafter	51.7
Total	$ 395.2

Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table reconciles cash, cash equivalents and restricted cash as reported on the consolidated balance sheets to the aggregated amounts presented on the consolidated statements of cash flows:


December 31 (in millions)	2023		2022		2021
Cash and cash equivalents	$	1,271.8	$	358.0	$	258.4
Restricted cash		10.5		0.8		0.5
Total cash, cash equivalents and restricted cash presented in the consolidated statements of cash flows	$	1,282.3	$	358.8	$	258.9

Estimated Service Lives for Property Plant and Equipment

The estimated service lives for property, plant and equipment are as follows:


Class of Assets		Range of Service Lives
Buildings		5 to 30 years
Machinery & Equipment		2 to 20 years
Land Improvements		5 to 60 years

Components of Changes in Accumulated Other Comprehensive Loss and Related Cumulative Noncurrent Deferred Tax Assets

The components of the changes in accumulated other comprehensive loss and related cumulative noncurrent deferred tax assets are as follows:


years ended December 31	Pension and Postretirement Benefit Plans			Foreign Currency			Total
(in millions)	2023
Accumulated other comprehensive loss at beginning of period	$	(36.5	)	$	(2.0	)	$	(38.5	)
Other comprehensive (loss) earnings before reclassifications, net of tax		(15.7	)		0.8			(14.9	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		4.2			—			4.2
Other comprehensive (loss) earnings, net of tax		(11.5	)		0.8			(10.7	)
Accumulated other comprehensive loss at end of period	$	(48.0	)	$	(1.2	)	$	(49.2	)
Cumulative noncurrent deferred tax assets at end of period	$	53.8		$	—		$	53.8

	2022
Accumulated other comprehensive loss at beginning of period	$	(97.6	)	$	—		$	(97.6	)
Other comprehensive earnings (loss) before reclassifications, net of tax		51.6			(2.0	)		49.6
Amounts reclassified from accumulated other comprehensive loss, net of tax		9.5			—			9.5
Other comprehensive earnings (loss), net of tax		61.1			(2.0	)		59.1
Accumulated other comprehensive loss at end of period	$	(36.5	)	$	(2.0	)	$	(38.5	)
Cumulative noncurrent deferred tax assets at end of period	$	50.1		$	—		$	50.1

	2021
Accumulated other comprehensive loss at beginning of period	$	(158.1	)	$	(0.3	)	$	(158.4	)
Other comprehensive earnings before reclassifications, net of tax		51.3			0.3			51.6
Amounts reclassified from accumulated other comprehensive loss, net of tax		9.2			—			9.2
Other comprehensive earnings, net of tax		60.5			0.3			60.8
Accumulated other comprehensive loss at end of period	$	(97.6	)	$	—		$	(97.6	)
Cumulative noncurrent deferred tax assets at end of period	$	69.7		$	—		$	69.7

Reclassification Out of Accumulated Other Comprehensive Loss

Reclassifications out of accumulated other comprehensive loss are as follows:


years ended December 31 (in millions)	2023			2022			2021			Affected line items in the consolidated statements of earnings
Pension and postretirement benefit plans:
Settlement charge	$	—		$	4.6		$	—
Amortization of:
Prior service cost		5.6			4.0			—
Actuarial loss		—			3.7			12.1
		5.6			12.3			12.1		Other nonoperating income, net
Tax effect		(1.4	)		(2.8	)		(2.9	)	Income tax expense
Total	$	4.2		$	9.5		$	9.2

Basic and Diluted Earnings from Continuing Operations Per Common Share

The following table reconciles the numerator and denominator for basic and diluted earnings from continuing operations per common share:


years ended December 31 (in millions)	2023		2022		2021
Net earnings from continuing operations attributable to Martin Marietta	$	1,199.8	$	856.3	$	702.0
Less: distributed and undistributed earnings attributable to unvested participating securities		—		—		0.2
Basic and diluted net earnings from continuing operations attributable to common shareholders attributable to Martin Marietta	$	1,199.8	$	856.3	$	701.8

Basic weighted-average common shares outstanding		61.9		62.3		62.4
Effect of dilutive employee and director awards		0.2		0.2		0.2
Diluted weighted-average common shares outstanding		62.1		62.5		62.6

Leases - Summary of Weighted-average Remaining Lease Terms and Discount Rates (Detail)	Dec. 31, 2023	Dec. 31, 2022
Weighted-average remaining lease terms (years):
Operating leases	11 years 8 months 12 days	12 years 2 months 12 days
Finance leases	18 years 3 months 18 days	19 years 1 month 6 days
Weighted-average discount rates:
Operating leases	4.30%	4.00%
Finance leases	2.60%	2.30%

Retirement Plans, Postretirement and Postemployment Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Fair Values of Pension Plan Assets by Asset Class and Fair Value Hierarchy Level

The fair values of pension plan assets by asset class and fair value hierarchy level are as follows:


	Fair Value Measurements
December 31		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value		Total Fair Value
(in millions)		2023
Equity securities1:
Mid-sized to large cap		$	—	$	—	$	—	$	307.2	$	307.2
Small cap, international and emerging growth funds			—		—		—		319.5		319.5
Debt securities1:
Core fixed income			—		—		—		319.2		319.2
Real estate			—		—		—		136.7		136.7
Private infrastructure			—		—		—		90.2		90.2
Cash equivalents			—		—		—		4.0		4.0
Total		$	—	$	—	$	—	$	1,176.8	$	1,176.8

		2022
Equity securities1:
Mid-sized to large cap		$	—	$	—	$	—	$	291.6	$	291.6
Small cap, international and emerging growth funds			—		—		—		287.2		287.2
Debt securities1:
Core fixed income			—		—		—		249.1		249.1
Real estate			—		—		—		151.5		151.5
Private infrastructure			—		—		—		83.1		83.1
Cash equivalents			0.2		—		—		4.4		4.6
Total		$	0.2	$	—	$	—	$	1,066.9	$	1,067.1

These investments are common collective investment trusts valued using the net asset value (NAV) unit price provided by the fund administrator. The NAV is based on the value of the underlying assets owned by the fund.

Schedule of Assumed Health Care Cost Trend Rates

Assumed health care cost trend rates at December 31 are:


	2023	2022
Health care cost trend rate assumed for next year	6.50%	6.75%
Rate to which the cost trend rate gradually declines	4.75%	4.75%
Year the rate reaches the ultimate rate	2031	2031

Pension

Schedule of Components of Net Periodic Benefit Cost (Credit)

The net periodic benefit cost of defined benefit plans includes the following components:


years ended December 31 (in millions)	2023			2022			2021
Service cost	$	32.9		$	48.1		$	46.2
Interest cost		51.3			41.2			35.7
Expected return on assets		(71.4	)		(77.3	)		(70.5	)
Amortization of:
Prior service cost		5.9			4.9			0.8
Actuarial loss		0.6			3.9			12.2
Settlement charge		—			4.6			—
Net periodic benefit cost	$	19.3		$	25.4		$	24.4

Schedule of Recognized Pretax Amounts in Comprehensive Earnings

The Company recognized the following pretax amounts in consolidated comprehensive earnings:


years ended December 31
(in millions)	2023			2022			2021
Actuarial loss (gain)	$	20.9		$	(114.5	)	$	(67.5	)
Prior service cost		—			48.1			—
Amortization of:
Prior service cost		(5.9	)		(4.9	)		(0.8	)
Actuarial loss		(0.6	)		(3.9	)		(12.2	)
Settlement charge		—			(4.6	)		—
Total	$	14.4		$	(79.8	)	$	(80.5	)

Schedule of Net Periodic Benefit Credit or Cost Not Yet Recognized

Accumulated other comprehensive loss includes the following amounts that have not yet been recognized in net periodic benefit cost:


December 31	2023				2022
(in millions)	Gross		Net of tax		Gross		Net of tax
Prior service cost	$	42.4	$	20.0	$	48.2	$	20.3
Actuarial loss		63.4		29.9		43.2		18.2
Total	$	105.8	$	49.9	$	91.4	$	38.5

Schedule of Change in Projected Benefit Obligation

The defined benefit plans’ change in projected benefit obligation is as follows:


years ended December 31
(in millions)	2023			2022
Net projected benefit obligation at beginning of year	$	857.6		$	1,135.5
Service cost		32.9			48.1
Interest cost		51.3			41.2
Actuarial loss (gain)		72.6			(363.3	)
Gross benefits paid		(45.2	)		(52.0	)
Plan amendments		—			48.1
Net projected benefit obligation at end of year	$	969.2		$	857.6

Schedule of Change In Plan Assets

The Company’s change in plan assets, funded status and amounts recognized on the Company’s consolidated balance sheets are as follows:


years ended December 31
(in millions)	2023			2022
Fair value of plan assets at beginning of year	$	1,067.1		$	1,200.3
Actual return on plan assets, net		123.1			(171.4	)
Employer contributions		31.8			90.2
Gross benefits paid		(45.2	)		(52.0	)
Fair value of plan assets at end of year	$	1,176.8		$	1,067.1

Schedule of Funded Status


December 31
(in millions)	2023		2022
Funded status of the plan at end of year	$	207.6	$	209.5
Accrued benefit credit	$	207.6	$	209.5

Schedule of Amounts Recognized on Consolidated Balance Sheets


December 31
(in millions)	2023			2022
Amounts recognized on consolidated balance sheets consist of:
Noncurrent asset	$	307.8		$	295.3
Current liability		(7.5	)		(6.8	)
Noncurrent liability		(92.7	)		(79.0	)
Net amount recognized at end of year	$	207.6		$	209.5

Schedule of Accumulated Benefit Obligations in Excess of Plan Assets

Benefit obligations and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets are as follows:


December 31
(in millions)	2023		2022
Projected benefit obligation	$	100.7	$	86.3
Accumulated benefit obligation	$	90.9	$	79.5
Fair value of plan assets	$	0.5	$	0.5

Schedule of Weighted-Average Assumptions

Weighted-average assumptions used to determine benefit obligations as of December 31 are:


	2023	2022
Discount rate	5.58%	5.88%
Rate of increase in future compensation levels	4.50%	4.50%

Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31 are:


	2023	2022	2021
Discount rate	5.88%	3.44%	3.16%
Rate of increase in future compensation levels	4.50%	4.50%	4.50%
Expected long-term rate of return on assets	6.75%	6.75%	6.75%

Schedule of Target Assets Allocation

The target allocation for 2023 and the actual pension plan asset allocation by asset class are as follows:


	Percentage of Plan Assets
		2023
		Target	December 31
Asset Class		Allocation	2023	2022
Equity securities		56%	53%	54%
Debt securities		28%	27%	24%
Real estate		10%	12%	14%
Private infrastructure		6%	8%	8%
Total		100%	100%	100%

Schedule of Expected Benefit Payments

The expected benefit payments to be paid from plan assets for each of the next five years and the five-year period thereafter are as follows:


(in millions)
2024	$	50.0
2025	$	66.3
2026	$	58.8
2027	$	62.3
2028	$	64.7
Years 2029 - 2033	$	341.3

Postretirement Benefits

Schedule of Components of Net Periodic Benefit Cost (Credit)

The net periodic benefit credit for postretirement plans includes the following components:


years ended December 31
(in millions)	2023			2022			2021
Interest cost	$	0.5		$	0.4		$	0.3
Amortization of:
Prior service credit		(0.3	)		(0.9	)		(0.8	)
Actuarial gain		(0.6	)		(0.2	)		(0.1	)
Total net periodic benefit credit	$	(0.4	)	$	(0.7	)	$	(0.6	)

Schedule of Recognized Pretax Amounts in Comprehensive Earnings

The Company recognized the following pretax amounts in consolidated comprehensive earnings:


years ended December 31
(in millions)	2023			2022			2021
Actuarial gain	$	(0.1	)	$	(2.0	)	$	(0.6	)
Amortization of:
Prior service credit		0.3			0.9			0.8
Actuarial gain		0.6			0.2			0.1
Total	$	0.8		$	(0.9	)	$	0.3

Schedule of Net Periodic Benefit Credit or Cost Not Yet Recognized

Accumulated other comprehensive loss includes the following amounts that have not yet been recognized in net periodic benefit credit:


December 31	2023						2022
(in millions)	Gross			Net of tax			Gross			Net of tax
Prior service credit	$	(0.4	)	$	(0.2	)	$	(0.7	)	$	(0.3	)
Actuarial gain		(3.7	)		(1.7	)		(4.1	)		(1.7	)
Total	$	(4.1	)	$	(1.9	)	$	(4.8	)	$	(2.0	)

Schedule of Change in Projected Benefit Obligation

The postretirement health care plans’ change in benefit obligation is as follows:


years ended December 31
(in millions)	2023			2022
Net benefit obligation at beginning of year	$	8.9		$	11.4
Interest cost		0.5			0.4
Participants’ contributions		0.7			0.6
Actuarial gain		(0.1	)		(1.9	)
Gross benefits paid		(1.7	)		(1.6	)
Net benefit obligation at end of year	$	8.3		$	8.9

Schedule of Change In Plan Assets

The postretirement health care plans’ change in plan assets, funded status and amounts recognized on the Company’s consolidated balance sheets are as follows:


years ended December 31
(in millions)	2023			2022
Fair value of plan assets at beginning of year	$	—		$	—
Employer contributions		1.0			1.0
Participants’ contributions		0.7			0.6
Gross benefits paid		(1.7	)		(1.6	)
Fair value of plan assets at end of year	$	—		$	—

Schedule of Funded Status


December 31
(in millions)	2023			2022
Funded status of the plan at end of year	$	(8.3	)	$	(8.9	)
Accrued benefit cost	$	(8.3	)	$	(8.9	)

Schedule of Amounts Recognized on Consolidated Balance Sheets


December 31
(in millions)	2023			2022
Amounts recognized on consolidated balance sheets consist of:
Current liability	$	(1.0	)	$	(1.0	)
Noncurrent liability		(7.3	)		(7.9	)
Net amount recognized at end of year	$	(8.3	)	$	(8.9	)

Schedule of Weighted-Average Assumptions

Weighted-average assumptions used to determine the postretirement benefit obligation as of December 31 are:


	2023	2022
Discount rate	5.79%	6.02%

Weighted-average assumptions used to determine net postretirement benefit credit for the years ended December 31 are:


	2023	2022	2021
Discount rate	6.02%	3.02%	2.48%

Schedule of Expected Benefit Payments

The total expected benefit payments to be paid by the Company, net of participant contributions, for each of the next five years and the five-year period thereafter are as follows:


(in millions)
2024	$	1.0
2025	$	1.2
2026	$	1.1
2027	$	1.0
2028	$	0.9
Years 2029 - 2033	$	3.8

Stock-Based Compensation - Summary Information for Restricted Stock Awards and Incentive Compensation Stock Awards (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock - Service Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards, January 1, 2023	215,644
Number of Awards, Awarded	60,982
Number of Awards, Distributed	(59,184)
Number of Awards, Forfeited	(6,799)
Number of Awards, Adjustment for performance	0
Number of Awards, December 31, 2023	210,643	215,644
Weighted-Average Grant-Date Fair Value, January 1, 2022	$ 272.86
Weighted-Average Grant-Date Fair Value, Awarded	369.18	$ 362.77	$ 342.11
Weighted-Average Grant-Date Fair Value, Distributed	305.8
Weighted-Average Grant-Date Fair Value, Forfeited	341.96
Weighted-Average Grant-Date Fair Value, Adjustment for performance	0
Weighted-Average Grant-Date Fair Value, December 31, 2023	$ 289.26	$ 272.86
Restricted Stock - Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards, January 1, 2023	103,795
Number of Awards, Awarded	33,103
Number of Awards, Distributed	(70,370)
Number of Awards, Forfeited	(1,626)
Number of Awards, Adjustment for performance	33,248
Number of Awards, December 31, 2023	98,150	103,795
Weighted-Average Grant-Date Fair Value, January 1, 2022	$ 339.17
Weighted-Average Grant-Date Fair Value, Awarded	392.73	$ 406.99	352.52
Weighted-Average Grant-Date Fair Value, Distributed	266.97
Weighted-Average Grant-Date Fair Value, Forfeited	371
Weighted-Average Grant-Date Fair Value, Adjustment for performance	266.97
Weighted-Average Grant-Date Fair Value, December 31, 2023	$ 384.02	$ 339.17
Incentive Compensation Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards, January 1, 2023	32,149
Number of Awards, Awarded	4,012
Number of Awards, Distributed	(18,835)
Number of Awards, Forfeited	0
Number of Awards, Adjustment for performance	0
Number of Awards, December 31, 2023	17,326	32,149
Weighted-Average Grant-Date Fair Value, January 1, 2022	$ 341.72
Weighted-Average Grant-Date Fair Value, Awarded	362.08	$ 369.05	$ 325.3
Weighted-Average Grant-Date Fair Value, Distributed	325.48
Weighted-Average Grant-Date Fair Value, Forfeited	0
Weighted-Average Grant-Date Fair Value, Adjustment for performance	0
Weighted-Average Grant-Date Fair Value, December 31, 2023	$ 364.09	$ 341.72

Retirement Plans, Postretirement and Postemployment Benefits - Net Periodic Benefit Cost Recognized Pretax Amounts in Comprehensive Earnings (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss (gain)	$ 20.9	$ (114.5)	$ (67.5)
Prior service cost	0.0	48.1	0.0
Prior service cost	(5.9)	(4.9)	(0.8)
Actuarial gain (loss)	(0.6)	(3.9)	(12.2)
Settlement charge	0.0	(4.6)	0.0
Total	14.4	(79.8)	(80.5)
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss (gain)	(0.1)	(2.0)	(0.6)
Prior service cost	0.3	0.9	0.8
Actuarial gain (loss)	0.6	0.2	0.1
Total	$ 0.8	$ (0.9)	$ 0.3

Supplemental Cash Flow Information - Schedule of Noncash Investing and Financing Activities (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Accrued liabilities for purchases of property, plant and equipment	$ 128.4	$ 152.4	$ 92.4
Right-of-use assets obtained in exchange for new operating lease liabilities	63.4	27.2	65.6
Right-of-use assets obtained in exchange for new finance lease liabilities	21.9	11.7	202.3
Remeasurement of operating lease right-of-use assets	10.3	(2.9)	(12.8)
Remeasurement of finance lease right-of-use assets	0.0	(12.6)	0.0
Acquisition of assets through asset exchange	5.2	0.0	0.0
Accounts payable relieved in connection with sale of property, plant and equipment	$ 0.7	$ 0.0	$ 0.0

Accounting Policies - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 1,271.8	$ 358.0	$ 258.4
Restricted cash	10.5	0.8	0.5
Total cash, cash equivalents and restricted cash presented in the consolidated statements of cash flows	$ 1,282.3	$ 358.8	$ 258.9	$ 304.4

Segments - Additional Information (Detail) $ in Millions	12 Months Ended
Segments - Additional Information (Detail) $ in Millions	Dec. 31, 2023 USD ($) Segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of divisions represent operating segments \| Segment	4
Reportable business segments \| Segment	2
Depreciation, depletion and amortization	$ 513.2	$ 506.0	$ 451.7
Bond Discount and Debt Issuance
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	$ 5.9	6.6	$ 5.2
Building Materials Business West Group
Segment Reporting Information [Line Items]
Nonrecurring gains on divested assets		$ 151.9

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Foreign pretax earnings	$ 8.1	$ 2.3	$ 7.5
Operating loss carryforwards, expiration year	2043
Deferred tax assets recognized	$ 2.8	3.6
Deferred tax asset, valuation allowance	$ 2.0	2.1
Domestic tax credits, expiration year	2043
Unrecognized tax benefits interest on income taxes expense and correlative effects	$ 0.1	0.1	$ 0.1
Open tax years	2019 2020 2021 2022 2023
Maximum
Income Taxes [Line Items]
Decrease in unrecognized tax benefits is reasonably possible, excluding interest and correlative effects.	$ 0.3
Federal Tax Authority
Income Taxes [Line Items]
Operating loss carryforwards, amount	1.2	1.3
Domestic State Tax Authority
Income Taxes [Line Items]
Deferred tax assets recognized	1.7	1.0
State and Local Jurisdiction
Income Taxes [Line Items]
Operating loss carryforwards, amount	42.8	55.3
Domestic and foreign tax credits, amount	$ 2.1	$ 1.3

Consolidated Statements of Total Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Total Shareholders' Equity	Noncontrolling Interests
Beginning Balance at Dec. 31, 2020	$ 5,893.3	$ 0.6	$ 3,440.8	$ (158.4)	$ 2,607.7	$ 5,890.7	$ 2.6
Beginning Balance (in shares) at Dec. 31, 2020		62,288,613
Consolidated net earnings	702.8				702.5	702.5	0.3
Other comprehensive loss / earnings	60.8			60.8		60.8
Dividends declared	(148.3)				(148.3)	(148.3)
Issuances of common stock for stock award plans	6.1		6.1			6.1
Issuances of common stock for stock award plans (in shares)		105,377
Shares withheld for employees’ income tax obligations	$ (19.5)		(19.5)			(19.5)
Repurchases of common stock, Shares	0
Stock-based compensation expense	$ 43.0		43.0			43.0
Distribution to owners of noncontrolling interest	(0.6)						(0.6)
Ending Balance at Dec. 31, 2021	6,537.6	$ 0.6	3,470.4	(97.6)	3,161.9	6,535.3	2.3
Ending Balance (in shares) at Dec. 31, 2021		62,393,990
Consolidated net earnings	866.8				866.8	866.8
Other comprehensive loss / earnings	59.1			59.1		59.1
Dividends declared	(159.3)				(159.3)	(159.3)
Issuances of common stock for stock award plans	4.7		4.7			4.7
Issuances of common stock for stock award plans (in shares)		126,699
Shares withheld for employees’ income tax obligations	(28.8)		(28.8)			(28.8)
Repurchases of common stock	$ (150.0)				(150.0)	(150.0)
Repurchases of common stock, Shares	(400,000)	(418,336)
Stock-based compensation expense	$ 42.7		42.7			42.7
Ending Balance at Dec. 31, 2022	$ 7,172.8	$ 0.6	3,489.0	(38.5)	3,719.4	7,170.5	2.3
Ending Balance (in shares) at Dec. 31, 2022	62,102,353	62,102,353
Consolidated net earnings	$ 1,169.4				1,168.9	1,168.9	0.5
Other comprehensive loss / earnings	(10.7)			(10.7)		(10.7)
Dividends declared	(174.5)				(174.5)	(174.5)
Issuances of common stock for stock award plans	2.3		2.3			2.3
Issuances of common stock for stock award plans (in shares)		100,588
Shares withheld for employees’ income tax obligations	(22.1)		(22.1)			(22.1)
Repurchases of common stock	$ (151.2)				(151.2)	(151.2)
Repurchases of common stock, Shares	(400,000)	(381,520)
Stock-based compensation expense	$ 50.0		50.0			50.0
Distribution to owners of noncontrolling interest	(0.5)						(0.5)
Contribution from owners of noncontrolling interest	0.1						0.1
Ending Balance at Dec. 31, 2023	$ 8,035.6	$ 0.6	$ 3,519.2	$ (49.2)	$ 4,562.6	$ 8,033.2	$ 2.4
Ending Balance (in shares) at Dec. 31, 2023	61,821,421	61,821,421

Goodwill and Other Intangible Assets - Intangible Assets Subject to Amortization (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 831.8	$ 967.2
Accumulated Amortization	(168.2)	(155.2)
Net Balance	663.6	812.0
Noncompetition agreements
Finite-Lived Intangible Assets [Line Items]
Gross Amount	4.1	4.1
Accumulated Amortization	(4.1)	(4.0)
Net Balance	0.0	0.1
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	421.0	423.7
Accumulated Amortization	(79.9)	(62.7)
Net Balance	341.1	361.0
Operating Permits
Finite-Lived Intangible Assets [Line Items]
Gross Amount	369.2	502.2
Accumulated Amortization	(55.8)	(61.4)
Net Balance	313.4	440.8
Use Rights And Other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	14.2	13.9
Accumulated Amortization	(12.5)	(12.4)
Net Balance	1.7	1.5
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Amount	23.3	23.3
Accumulated Amortization	(15.9)	(14.7)
Net Balance	$ 7.4	$ 8.6

Long-Term Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt

Note G: Long-Term Debt


December 31 (in millions)	2023			2022
0.650% Senior Notes, due 2023 (discharged)	$	—		$	699.1
4.250% Senior Notes, due 2024		399.6			398.9
7% Debentures, due 2025		124.8			124.7
3.450% Senior Notes, due 2027		298.7			298.3
3.500% Senior Notes, due 2027		492.2			491.5
2.500% Senior Notes, due 2030		471.5			470.5
2.400% Senior Notes, due 2031		889.4			888.6
6.25% Senior Notes, due 2037		228.4			228.4
4.250% Senior Notes, due 2047		590.4			590.2
3.200% Senior Notes, due 2051		850.2			849.8
Total debt		4,345.2			5,040.0
Less: current maturities		(399.6	)		(699.1	)
Long-term debt	$	3,945.6		$	4,340.9

On September 29, 2022, the Company satisfied and discharged the 0.650% Senior Notes, which were issued in July 2021. In connection with the satisfaction and discharge, the Company irrevocably deposited funds with Regions Bank, as trustee under the indenture governing the 0.650% Senior Notes, in an amount sufficient to satisfy all remaining principal and interest payments on the 0.650% Senior Notes. The Company utilized existing cash resources to fund the satisfaction and discharge. As a result of the satisfaction and discharge, the obligations of the Company under the indenture with respect to the 0.650% Senior Notes were terminated, except those provisions of the indenture that, by their terms, survive the satisfaction and discharge. Because the discharge did not represent a legal defeasance, the 0.650% Senior Notes remained on the Company's consolidated balance sheet at December 31, 2022 and continued to accrete to their par value over the period until maturity. Additionally, the related trust assets were included in Restricted investments (to satisfy discharged debt and related interest) on the Company's consolidated balance sheet at December 31, 2022. On July 17, 2023, the deposited funds were applied to satisfy the remaining principal and interest payments and the 0.650% Senior Notes have been paid in full.

The Company’s 4.250% Senior Notes due 2024, 7% Debentures due 2025, 3.450% Senior Notes due 2027, 3.500% Senior Notes due 2027, 2.500% Senior Notes due 2030, 2.400% Senior Notes due 2031, 6.25% Senior Notes due 2037, 4.250% Senior Notes due 2047 and 3.200% Senior Notes due 2051 (collectively, the Senior Notes) are senior unsecured obligations of the Company, ranking equal in right of payment with the Company’s existing and future unsubordinated indebtedness. The Senior Notes, with the exception of the 7% Debentures due 2025 and the 6.25% Senior Notes due 2037, are redeemable prior to their respective par call dates, as defined, at a make-whole redemption price, and at a price equal to 100% of the principal amount after their respective par call dates and prior to their respective maturity dates. The 6.25% Senior Notes due 2037 are redeemable in whole at any time or in part from time to time at a make-whole redemption price. Upon a change-of-control repurchase event and a resulting below-investment-grade credit rating, the Company would be required to make an offer to repurchase all outstanding Senior Notes, with the exception of the 7% Debentures due 2025, at a price in cash equal to 101% of the principal amount of the Senior Notes, plus any accrued and unpaid interest.

During the year ended December 31, 2022, the Company repurchased $67.7 million (par value) of its Senior Notes. There were no debt repurchases during the year ended December 31, 2023.

The Senior Notes are carried net of original issue discount, which is being amortized by the effective interest method over the life of the issue. The principal amount as of December 31, 2023, effective interest rate and maturity date for the Senior Notes are as follows:


	Principal Amount (in millions)		Effective Interest Rate	Maturity Date
4.250% Senior Notes	$	400.0	4.40%	July 2, 2024
7% Debentures	$	125.0	7.05%	December 1, 2025
3.450% Senior Notes	$	300.0	3.55%	June 1, 2027
3.500% Senior Notes	$	494.6	3.61%	December 15, 2027
2.500% Senior Notes	$	478.0	2.71%	March 15, 2030
2.400% Senior Notes	$	895.9	2.48%	July 15, 2031
6.25% Senior Notes	$	230.0	6.32%	May 1, 2037
4.250% Senior Notes	$	597.9	4.32%	December 15, 2047
3.200% Senior Notes	$	865.9	3.29%	July 15, 2051

The Company has a credit agreement with JPMorgan Chase Bank, N.A., as Administrative Agent, Deutsche Bank Securities, Inc., PNC Bank, Truist Bank and Wells Fargo Bank, N.A., as Syndication Agents, and the lenders party thereto (the Credit Agreement), which provides for a $800.0 million five-year senior unsecured revolving facility (the Revolving Facility) with a maturity date of December 21, 2028. Borrowings under the Revolving Facility bear interest, at the Company’s option, at rates based upon the Secured Overnight Financing Rate (SOFR) or a base rate, plus, for each rate, a margin determined in accordance with a ratings-based pricing grid. Any outstanding principal amounts, together with interest accrued thereon, are due in full on that maturity date. There were no borrowings outstanding under the Credit Agreement as of December 31, 2023 and 2022. Available borrowings under the Revolving Facility are reduced by any outstanding letters of credit issued by the Company under the Revolving Facility. At December 31, 2023 and 2022, the Company had $2.6 million of outstanding letters of credit issued and $797.4 million available for borrowing under the Revolving Facility. The Company paid the bank group an upfront loan commitment fee that is being amortized over the life of the Revolving Facility. The Revolving Facility includes an annual facility fee.

The Credit Agreement requires the Company’s ratio of consolidated net debt-to-consolidated earnings before interest, taxes, depreciation, depletion and amortization, as defined, for the trailing-twelve months (the Ratio) to not exceed 3.50x as of the end of any fiscal quarter, provided that the Company may exclude from the Ratio any debt incurred in connection with certain acquisitions during the quarter or three preceding quarters so long as the Ratio calculated without such exclusion does not exceed 4.00x. Additionally, if no amounts are outstanding under the Revolving Facility or the Company's trade receivable securitization facility (discussed later), consolidated debt, as defined, which includes debt for which the Company is a guarantor, shall be reduced in an amount equal to the lesser of $500.0 million or the sum of the Company’s unrestricted cash and temporary investments, for purposes of the covenant calculation. The Company was in compliance with the Ratio at December 31, 2023.

The Company, through a wholly-owned special-purpose subsidiary, has a $400.0 million trade receivable securitization facility (the Trade Receivable Facility). On September 20, 2023, the Company extended the maturity to September 19, 2024. The Trade Receivable Facility, with Truist Bank, Regions Bank, First-Citizens Bank & Trust Company, and certain other lenders that may become a party to the facility from time to time, is backed by eligible trade receivables, as defined. Borrowings are limited to the lesser of the facility limit or the borrowing base, as defined. These receivables are originated by the Company and then sold or contributed to the wholly-owned special-purpose subsidiary. The Company continues to be responsible for the servicing and administration of the receivables purchased by the wholly-owned special-purpose subsidiary. Borrowings under the Trade Receivable Facility bear interest at a rate equal to Adjusted Term Secured Overnight Financing Rate (Adjusted Term SOFR), as defined, plus 0.7%. The Trade Receivable Facility contains a cross-default provision to the Company’s other debt agreements. Subject to certain conditions, including lenders providing the requisite commitments, the Trade Receivable Facility may be increased to a borrowing base not to exceed $500 million. At December 31, 2023 and 2022, there were no borrowings outstanding under the Trade Receivable Facility.

The Company’s long-term debt maturities for each of the next five years and thereafter are as follows:


(in millions)
2024	$	399.6
2025		124.8
2026		—
2027		790.9
2028		—
Thereafter		3,029.9
Total	$	4,345.2

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Consolidated Statements of Comprehensive Earnings (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) gain arising during period, tax	$ (5.1)	$ 28.6	$ (16.8)
Prior service cost arising during period, net of tax	0.0	(11.8)	0.0
Amortization of prior service cost, tax	1.4	0.9	0.0
Amortization of actuarial loss, tax	0.0	0.8	2.9
Amount recognized in net periodic pension cost due to settlement, tax	$ 0.0	$ 1.1	$ 0.0

Accounts Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Schedule of Accounts Receivable Net


December 31
(in millions)	2023			2022
Customer receivables	$	746.7		$	781.0
Other current receivables		18.3			15.9
Total accounts receivable		765.0			796.9
Less: allowance for estimated credit losses		(11.7	)		(11.0	)
Accounts receivable, net	$	753.3		$	785.9

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note C: Goodwill and Other Intangible Assets

The following table shows the changes in goodwill by reportable segment and in total:


December 31	East Group		West Group			Total
(in millions)	2023
Balance at beginning of period	$	764.4	$	2,885.1		$	3,649.5
Goodwill allocated to assets held for sale		—		(260.0	)		(260.0	)
Balance at end of period	$	764.4	$	2,625.1		$	3,389.5

	2022
Balance at beginning of period	$	759.4	$	2,735.0		$	3,494.4
Acquisitions		—		3.7			3.7
Goodwill reclassified from assets held for sale		—		8.1			8.1
Divestitures		—		(159.7	)		(159.7	)
Measurement period adjustments		5.0		298.0			303.0
Balance at end of period	$	764.4	$	2,885.1		$	3,649.5

Intangible assets subject to amortization consist of the following:


December 31	Gross Amount		Accumulated Amortization			Net Balance
(in millions)	2023
Noncompetition agreements	$	4.1	$	(4.1	)	$	—
Customer relationships		421.0		(79.9	)		341.1
Operating permits		369.2		(55.8	)		313.4
Use rights and other		14.2		(12.5	)		1.7
Trade names		23.3		(15.9	)		7.4
Total	$	831.8	$	(168.2	)	$	663.6

	2022
Noncompetition agreements	$	4.1	$	(4.0	)	$	0.1
Customer relationships		423.7		(62.7	)		361.0
Operating permits		502.2		(61.4	)		440.8
Use rights and other		13.9		(12.4	)		1.5
Trade names		23.3		(14.7	)		8.6
Total	$	967.2	$	(155.2	)	$	812.0

Intangible assets deemed to have an indefinite life that are therefore not amortized consist of the following:


December 31	Building Materials Business		Magnesia Specialties		Total
(in millions)	2023
Operating permits	$	6.6	$	—	$	6.6
Use rights		25.0		—		25.0
Trade names		—		2.5		2.5
Total	$	31.6	$	2.5	$	34.1

	2022
Operating permits	$	6.6	$	—	$	6.6
Use rights		26.7		—		26.7
Trade names		—		2.5		2.5
Total	$	33.3	$	2.5	$	35.8

Amortization expense for intangible assets for the years ended December 31, 2023, 2022 and 2021 was $27.8 million, $26.6 million and $24.0 million, respectively. The intangible assets with finite lives classified as held for sale are not being amortized.

The estimated amortization expense for intangible assets for each of the next five years and thereafter is as follows:


(in millions)
2024	$	26.5
2025		26.4
2026		25.1
2027		24.5
2028		24.3
Thereafter		536.8
Total	$	663.6

Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Note F: Property, Plant and Equipment, Net


December 31
(in millions)	2023			2022
Land and land improvements	$	1,599.0		$	1,519.2
Mineral reserves and interests		2,982.4			2,917.8
Buildings		160.3			164.1
Machinery and equipment		5,379.7			5,484.5
Construction in progress		333.0			338.5
Finance lease right-of-use assets		253.5			236.9
Total property, plant and equipment		10,707.9			10,661.0
Less: accumulated depreciation, depletion and amortization		(4,522.0	)		(4,344.3	)
Property, plant and equipment, net	$	6,185.9		$	6,316.7

Depreciation, depletion and amortization expense related to property, plant and equipment was $479.5 million, $472.8 million and $422.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. Depreciation, depletion and amortization expense includes amortization of right-of-use assets from finance leases. Property, plant and equipment classified as held for sale are not being depreciated.

Interest of $5.3 million, $2.7 million and $5.6 million was capitalized during 2023, 2022 and 2021, respectively.

At December 31, 2023 and 2022, $39.5 million and $38.4 million, respectively, of the Building Materials business’ property, plant and equipment, net, were located in foreign countries, namely The Bahamas and Canada.

Other Nonoperating Income, Net

12 Months Ended

Dec. 31, 2023

Other Income and Expenses [Abstract]

Other Nonoperating Income, Net

Note S: Other Nonoperating Income, Net

Other nonoperating income, net, is comprised generally of interest income; foreign currency transaction gains and losses; pension and postretirement benefit cost (excluding service cost); net equity earnings from nonconsolidated investments and other miscellaneous income and expenses. Other nonoperating income, net, was $62.1 million, $53.4 million and $24.4 million in 2023, 2022 and 2021, respectively. In 2023, other nonoperating income, net, included $46.7 million of interest income and $8.9 million of third-party railroad track maintenance expense. In 2022, other nonoperating income, net, included $13.6 million of interest income, a $12.0 million pretax gain related to the repurchase of the Company's debt and $8.2 million of third-party railroad track maintenance expense. In 2021, other nonoperating income, net, included $7.7 million of third-party railroad track maintenance expense.

Retirement Plans, Postretirement and Postemployment Benefits - Change in Projected Benefit Obligation (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension
Defined Benefit Plan Disclosure [Line Items]
Net projected benefit obligation at beginning of year	$ 857.6	$ 1,135.5
Service cost	32.9	48.1	$ 46.2
Interest cost	51.3	41.2	35.7
Actuarial loss (gain)	72.6	(363.3)
Gross benefits paid	(45.2)	(52.0)
Plan amendments	0.0	48.1
Net projected benefit obligation at end of year	969.2	857.6	1,135.5
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Net projected benefit obligation at beginning of year	8.9	11.4
Interest cost	0.5	0.4	0.3
Participants' contributions	0.7	0.6
Actuarial loss (gain)	(0.1)	(1.9)
Gross benefits paid	(1.7)	(1.6)
Net projected benefit obligation at end of year	$ 8.3	$ 8.9	$ 11.4

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note N: Commitments and Contingencies

Legal and Administrative Proceedings. The Company is engaged in certain legal and administrative proceedings incidental to its normal business activities. In the opinion of management and counsel, based upon currently available facts, the likelihood is remote that the ultimate outcome of any litigation and other proceedings, including those pertaining to environmental matters (see Note A), relating to the Company and its subsidiaries, will have a material adverse effect on the overall results of the Company’s operations, its cash flows or its financial position.

Asset Retirement Obligations. The Company incurs reclamation and teardown costs as part of its mining and production processes. Estimated future obligations are discounted to their present value and accreted to their projected future obligations via charges to operating expenses. Additionally, the fixed assets recorded concurrently with the liabilities are depreciated over the period until retirement activities are expected to occur. Total accretion and depreciation expenses for 2023, 2022 and 2021 were $17.1 million, $15.5 million and $11.9 million, respectively, and are included in Other operating income, net, in the consolidated statements of earnings.

The following shows the changes in asset retirement obligations:


years ended December 31 (in millions)	2023			2022			2021
Balance at beginning of year	$	380.0		$	306.8		$	153.8
Accretion expense		10.9			10.6			7.2
Liabilities incurred and liabilities assumed in business combinations		33.8			78.6			179.0
Liabilities settled		(27.7	)		(14.1	)		(5.2	)
Revisions in estimated cash flows		(12.5	)		(3.1	)		3.5
Liabilities reclassified from/(to) assets held for sale		15.8			1.2			(31.5	)
Balance at end of year	$	400.3		$	380.0		$	306.8

Other Environmental Matters. The Company’s operations are subject to and affected by federal, state and local laws and regulations relating to the environment, health and safety, and other regulatory matters. Certain of the Company’s operations may, from time to time, involve the use of substances that are classified as toxic or hazardous within the meaning of these laws and regulations. Environmental operating permits are, or may be, required for certain of the Company’s operations, and such permits are subject to modification, renewal and revocation. The Company regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. Despite these compliance efforts, risk of environmental remediation liability is inherent in the operation of the Company’s businesses, as it is with other companies engaged in similar businesses. The Company has no material provisions for environmental remediation liabilities and does not believe such liabilities will have a material adverse effect on the Company in the future.

Insurance Reserves. At December 31, 2023 and 2022, reserves of $46.9 million and $48.2 million, respectively, were recorded for insurance claims.

Letters of Credit. In the normal course of business, the Company provides certain third parties with standby letter of credit agreements guaranteeing its payment for certain insurance claims, contract performance and permit requirements. At December 31, 2023, the Company was contingently liable for $32.2 million in letters of credit.

Surety Bonds. At December 31, 2023, the Company was contingently liable for $698.3 million in surety bonds required by certain states and municipalities and their related agencies. The bonds are provided in the normal course of business and are principally for certain insurance claims, construction contracts, reclamation obligations and mining permits guaranteeing the Company’s own performance. The Company has indemnified the underwriting insurance company against any exposure under the surety bonds. In the Company’s past experience, no material claims have been made against these financial instruments.

Borrowing Arrangement with Affiliate. At December 31, 2022, the Company had a $6.0 million interest-only note receivable outstanding from an unconsolidated affiliate. The note receivable was repaid in full by the unconsolidated affiliate during 2023.

Purchase Commitments. The Company had purchase commitments for property, plant and equipment of $162.1 million as of December 31, 2023. The Company also had other purchase obligations related to energy and service contracts of $233.1 million as of December 31, 2023. The Company’s contractual purchase commitments as of December 31, 2023 are as follows:


(in millions)
2024	$	247.2
2025		39.1
2026		28.7
2027		14.1
2028		14.4
Thereafter		51.7
Total	$	395.2

Of the total contractual purchase commitments, $50.7 million was for the Company's South Texas cement business and related ready mixed concrete operations that are classified as assets held for sale as of December 31, 2023.

Capital expenditures in 2023, 2022 and 2021 that were purchase commitments as of the prior year end were $111.4 million, $89.6 million and $99.0 million, respectively.

Additionally, the Company has a purchase commitment for 394 railcars at an aggregate value of $42.7 million as of December 31, 2023.

Contracts of Affreightment and Royalty Commitments. Future minimum contracts of affreightment and royalty commitments for all noncancelable agreements that are not accounted for as leases on the Company’s consolidated balance sheet as of December 31, 2023 are as follows:


(in millions)	Contracts of Affreightment		Royalty Commitments
2024	$	16.9	$	26.4
2025		17.1		14.1
2026		17.4		11.7
2027		17.7		11.2
2028		—		8.0
Thereafter		—		77.4
Total	$	69.1	$	148.8

Employees. Approximately 12% of the Company’s employees are represented by a labor union. All such employees are hourly employees. The Company maintains collective bargaining agreements relating to the union employees within the Building Materials business and Magnesia Specialties segment. All of the hourly employees of the Magnesia Specialties segment, located in Manistee, Michigan, and Woodville, Ohio, are represented by labor unions. The Woodville collective bargaining agreement expires in June 2026. The Manistee collective bargaining agreement expires in August 2027.

Retirement Plans, Postretirement and Postemployment Benefits - Schedule of Fair Values of Pension Plan Assets by Asset Class and Fair Value Hierarchy Level (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	$ 1,176.8	$ 1,067.1
Quoted Prices In Active Markets For Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	0.0	0.2
Net Asset Value
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	1,176.8	1,066.9
Mid-sized to Large Cap
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	307.2	291.6
Mid-sized to Large Cap \| Net Asset Value
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	307.2	291.6
Small Cap, International and Emerging Growth Funds
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	319.5	287.2
Small Cap, International and Emerging Growth Funds \| Net Asset Value
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	319.5	287.2
Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	319.2	249.1
Debt Securities \| Net Asset Value
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	319.2	249.1
Real Estate
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	136.7	151.5
Real Estate \| Net Asset Value
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	136.7	151.5
Private infrastructure
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	90.2	83.1
Private infrastructure \| Net Asset Value
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	90.2	83.1
Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	4.0	4.6
Cash Equivalents \| Quoted Prices In Active Markets For Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	0.0	0.2
Cash Equivalents \| Net Asset Value
Defined Benefit Plan Disclosure [Line Items]
Fair values of pension plan assets	$ 4.0	$ 4.4

Accounting Policies - Basic and Diluted Earnings from Continuing Operations Per Common Share (Detail) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net earnings from continuing operations attributable to Martin Marietta	$ 1,199.8	$ 856.3	$ 702.0
Less: distributed and undistributed earnings attributable to unvested participating securities	0.0	0.0	0.2
Basic net earnings from continuing operations attributable to common shareholders attributable to Martin Marietta	1,199.8	856.3	701.8
Diluted net earnings from continuing operations attributable to common shareholders attributable to Martin Marietta	$ 1,199.8	$ 856.3	$ 701.8
Basic weighted-average common shares outstanding	61.9	62.3	62.4
Effect of dilutive employee and director awards	0.2	0.2	0.2
Diluted weighted-average common shares outstanding	62.1	62.5	62.6

- Definition

Amount after tax of income (loss) from continuing operations attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-18

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.13)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

+ Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Changes in Asset Retirement Obligations

The following shows the changes in asset retirement obligations:


years ended December 31 (in millions)	2023			2022			2021
Balance at beginning of year	$	380.0		$	306.8		$	153.8
Accretion expense		10.9			10.6			7.2
Liabilities incurred and liabilities assumed in business combinations		33.8			78.6			179.0
Liabilities settled		(27.7	)		(14.1	)		(5.2	)
Revisions in estimated cash flows		(12.5	)		(3.1	)		3.5
Liabilities reclassified from/(to) assets held for sale		15.8			1.2			(31.5	)
Balance at end of year	$	400.3		$	380.0		$	306.8

Schedule of Contractual Purchase Commitments

The Company’s contractual purchase commitments as of December 31, 2023 are as follows:


(in millions)
2024	$	247.2
2025		39.1
2026		28.7
2027		14.1
2028		14.4
Thereafter		51.7
Total	$	395.2

Schedule of Future Minimum Contracts of Affreightment and Royalty Commitments for All Noncancelable Agreements

Future minimum contracts of affreightment and royalty commitments for all noncancelable agreements that are not accounted for as leases on the Company’s consolidated balance sheet as of December 31, 2023 are as follows:


(in millions)	Contracts of Affreightment		Royalty Commitments
2024	$	16.9	$	26.4
2025		17.1		14.1
2026		17.4		11.7
2027		17.7		11.2
2028		—		8.0
Thereafter		—		77.4
Total	$	69.1	$	148.8

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net


December 31
(in millions)	2023			2022
Land and land improvements	$	1,599.0		$	1,519.2
Mineral reserves and interests		2,982.4			2,917.8
Buildings		160.3			164.1
Machinery and equipment		5,379.7			5,484.5
Construction in progress		333.0			338.5
Finance lease right-of-use assets		253.5			236.9
Total property, plant and equipment		10,707.9			10,661.0
Less: accumulated depreciation, depletion and amortization		(4,522.0	)		(4,344.3	)
Property, plant and equipment, net	$	6,185.9		$	6,316.7

Leases - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee Lease Description [Line Items]
Option to extend lease	options to extend the leases for up to 30 years
Option to terminate lease	options to terminate the leases within one year
Royalties expenses	$ 86.2	$ 78.2	$ 67.1
Minimum
Lessee Lease Description [Line Items]
Financing lease term	1 year
Estimated incremental percentage on interest rate	0.00%	0.00%
Maximum
Lessee Lease Description [Line Items]
Financing lease term	96 years
Estimated incremental percentage on interest rate	6.00%	6.00%

Accounting Policies - Reclassifications Out of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Additional interest expense	$ 165.3	$ 169.0	$ 142.7
Tax effect	292.5	234.8	153.2
Pension and Postretirement Benefit Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Earnings from Continuing Operations	(4.2)	(9.5)	(9.2)
Reclassification out of Accumulated Other Comprehensive Income \| Pension and Postretirement Benefit Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Settlement charge	0.0	4.6	0.0
Prior service cost (credit)	5.6	4.0	0.0
Actuarial loss	0.0	3.7	12.1
Tax effect	(1.4)	(2.8)	(2.9)
Earnings from Continuing Operations	4.2	9.5	9.2
Reclassification out of Accumulated Other Comprehensive Income \| Pension and Postretirement Benefit Plans \| Other Nonoperating Income, Net
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications out of accumulated other comprehensive loss before taxes	$ 5.6	$ 12.3	$ 12.1

Segments

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segments

Note O: Segments

As of December 31, 2023, the Building Materials business is comprised of four divisions that represent individual operating segments. These operating segments are consolidated into two reportable segments, the East Group and the West Group, for financial reporting purposes as they meet the aggregation criteria. The Magnesia Specialties business represents an individual operating and reportable segment. The accounting policies used for segment reporting are the same as those described in Note A.

The Chief Operating Decision Maker’s evaluation of performance and allocation of resources are based primarily on earnings from operations. Segment earnings from operations include total revenues less cost of revenues; selling, general and administrative expenses; other operating income and expenses, net; and exclude interest income and expense; other nonoperating income and expenses, net; and income tax expense. Corporate loss from operations primarily includes depreciation; expenses for corporate administrative functions; acquisition, divestiture and integration expenses; and other nonrecurring income and expenses not attributable to operations of the Company's other operating segments.

Assets employed by segment include assets directly identified with those operations. Corporate assets consist primarily of cash, cash equivalents and restricted cash; restricted investments; property, plant and equipment for corporate operations; and other assets not directly identifiable with a reportable segment.

The following tables display selected financial data for the Company’s reportable segments. Total revenues, as presented on the consolidated statements of earnings, reflect the elimination of intersegment revenues, which represent sales from one segment to another segment. Total revenues and earnings (loss) from operations reflect continuing operations only.


years ended December 31 (in millions) Total revenues	2023		2022		2021
East Group	$	2,763.4	$	2,468.1	$	2,303.0
West Group		3,698.4		3,388.6		2,812.3
Total Building Materials business		6,461.8		5,856.7		5,115.3
Magnesia Specialties		315.4		304.0		298.7
Total	$	6,777.2	$	6,160.7	$	5,414.0


years ended December 31 (in millions) Earnings (Loss) from operations	2023			2022			2021
East Group	$	857.1		$	640.2		$	621.7
West Group		777.1			588.1			385.2
Total Building Materials business		1,634.2			1,228.3			1,006.9
Magnesia Specialties		76.0			75.2			90.8
Total reportable segments		1,710.2			1,303.5			1,097.7
Corporate		(114.2	)		(96.8	)		(123.9	)
Consolidated earnings from operations		1,596.0			1,206.7			973.8
Interest expense		165.3			169.0			142.7
Other nonoperating income, net		(62.1	)		(53.4	)		(24.4	)
Consolidated earnings from continuing operations before income tax expense	$	1,492.8		$	1,091.1		$	855.5

Earnings from operations for the West Group included a nonrecurring gain on divestiture of $151.9 million in 2022.


December 31 (in millions) Assets employed	2023		2022		2021
East Group	$	5,131.1	$	5,063.5	$	5,009.0
West Group		7,696.7		7,908.4		8,264.8
Total Building Materials business		12,827.8		12,971.9		13,273.8
Magnesia Specialties		250.0		192.1		168.7
Total reportable segments		13,077.8		13,164.0		13,442.5
Corporate		2,047.1		1,829.6		950.5
Total	$	15,124.9	$	14,993.6	$	14,393.0


years ended December 31 (in millions) Depreciation, depletion and amortization	2023		2022		2021
East Group	$	210.1	$	210.4	$	196.0
West Group		268.0		260.6		223.0
Total Building Materials business		478.1		471.0		419.0
Magnesia Specialties		12.5		12.2		12.3
Total reportable segments		490.6		483.2		431.3
Corporate		22.6		22.8		20.4
Total	$	513.2	$	506.0	$	451.7

Corporate depreciation, depletion and amortization included $5.9 million, $6.6 million and $5.2 million for the amortization of bond discount and debt issuance costs in 2023, 2022 and 2021, respectively.


years ended December 31 (in millions) Total property additions, including the impact of acquisitions	2023		2022		2021
East Group	$	230.8	$	189.1	$	372.9
West Group		341.7		302.2		1,131.6
Total Building Materials business		572.5		491.3		1,504.5
Magnesia Specialties		39.3		32.0		8.2
Total reportable segments		611.8		523.3		1,512.7
Corporate		14.4		21.1		28.8
Total	$	626.2	$	544.4	$	1,541.5


years ended December 31 (in millions) Property additions through acquisitions	2023		2022		2021
East Group	$	—	$	—	$	169.2
West Group		—		2.5		918.3
Total Building Materials business		—		2.5		1,087.5
Magnesia Specialties		—		—		—
Total reportable segments		—		2.5		1,087.5
Corporate		—		—		—
Total	$	—	$	2.5	$	1,087.5

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Retirement Plans, Postretirement and Postemployment Benefits - Schedule of Change In Plan Assets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Balance at beginning of year	$ 1,067.1
Employer contributions	31.8	$ 90.2
Balance at end of year	1,176.8	1,067.1
Pension
Defined Benefit Plan Disclosure [Line Items]
Balance at beginning of year	1,067.1	1,200.3
Actual return on plan assets, net	123.1	(171.4)
Employer contributions	31.8	90.2
Gross benefits paid	(45.2)	(52.0)
Balance at end of year	1,176.8	1,067.1
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Balance at beginning of year	0.0	0.0
Employer contributions	1.0	1.0
Participants' contributions	0.7	0.6
Gross benefits paid	(1.7)	(1.6)
Balance at end of year	$ 0.0	$ 0.0

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Accounting Policies - Estimated Service Lives for Property, Plant and Equipment (Detail)	Dec. 31, 2023
Buildings \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Service Lives, Years	5 years
Buildings \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Service Lives, Years	30 years
Machinery and Equipment \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Service Lives, Years	2 years
Machinery and Equipment \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Service Lives, Years	20 years
Land Improvements \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Service Lives, Years	5 years
Land Improvements \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Service Lives, Years	60 years

Retirement Plans, Postretirement and Postemployment Benefits - Net Periodic Benefit Credit or Cost Not Yet Recognized (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Pension
Defined Benefit Plan Disclosure [Line Items]
Prior service (credit) - Gross	$ 42.4	$ 48.2
Actuarial (gain) loss - Gross	63.4	43.2
Total - Gross	105.8	91.4
Prior service cost (credit) - Net of tax	20.0	20.3
Actuarial (gain) loss - Net of tax	29.9	18.2
Total - Net of tax	49.9	38.5
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Prior service (credit) - Gross	(0.4)	(0.7)
Actuarial (gain) loss - Gross	(3.7)	(4.1)
Total - Gross	(4.1)	(4.8)
Prior service cost (credit) - Net of tax	(0.2)	(0.3)
Actuarial (gain) loss - Net of tax	(1.7)	(1.7)
Total - Net of tax	$ (1.9)	$ (2.0)

Revenues and Gross Profit - Domestic and Foreign Total Revenues (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Consolidated total revenues	$ 6,777.2	$ 6,160.7	$ 5,414.0
Domestic
Segment Reporting Information [Line Items]
Consolidated total revenues	6,707.2	6,077.6	5,338.5
Foreign
Segment Reporting Information [Line Items]
Consolidated total revenues	$ 70.0	$ 83.1	$ 75.5

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Shareholders' Equity - Additional Information (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock, shares authorized	100,000,000	100,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock reserved for issuance under stock-based award plans	1,100,000
Stock Repurchased During Period, Shares	400,000	400,000	0
Common stock remaining under repurchase authorization	12,700,000
Maximum
Class of Stock [Line Items]
Stock repurchase program, shares authorized to be repurchased	20,000,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
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-Topic 210
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-Section S99
-Paragraph 1
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Section S99
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+ Details

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Other Operating Income, Net

12 Months Ended

Dec. 31, 2023

Other Income and Expenses [Abstract]

Other Operating Income, Net

Note R: Other Operating Income, Net

Other operating income, net, is comprised generally of gains and losses on the sale of assets; recoveries and losses related to certain customer accounts receivable; rental, royalty and services income; accretion expense; depreciation expense; and gains and losses related to asset retirement obligations. These net amounts represented income of $28.4 million, $189.2 million and $34.3 million in 2023, 2022 and 2021, respectively. In 2023, other operating income, net, included $19.5 million of gains on land sales. In 2022, other operating income, net, included a $151.9 million pretax gain on the divestiture of the Colorado and Central Texas ready mixed concrete operations. For 2021, other operating income, net, included $21.6 million of gains on land sales and divested assets, including the Company’s former corporate headquarters.

Inventories, Net - Schedule of Inventories Net (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished products	$ 1,151.8	$ 932.4
Products in process	25.0	24.8
Raw materials	59.9	71.7
Supplies and expendable parts	154.6	153.1
Total inventories	1,391.3	1,182.0
Less: allowances	(402.7)	(308.3)
Inventories, net	$ 988.6	$ 873.7

Retirement Plans, Postretirement and Postemployment Benefits - Schedule of Weighted-Average Assumptions (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.58%	5.88%
Rate of increase in future compensation levels	4.50%	4.50%
Discount rate	5.88%	3.44%	3.16%
Rate of increase in future compensation levels	4.50%	4.50%	4.50%
Expected long-term rate of return on assets	6.75%	6.75%	6.75%
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.79%	6.02%
Discount rate	6.02%	3.02%	2.48%

Retirement Plans, Postretirement and Postemployment Benefits - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation for defined benefit pension plans	$ 881.9	$ 789.6
Combined pension plan and SERP contributions	31.8	90.2
Estimated contribution of pension plans	32.7
Corporation's matching obligations	$ 22.3	$ 23.1	$ 20.5
Defined contribution plan name	401(a)
Defined benefit plans remeasurement increased	$ 47.6
Postretirement Health Care Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Estimated contribution of pension plans	$ 1.0

Retirement Plans, Postretirement and Postemployment Benefits - Schedule of Expected Benefit Payments (Detail) $ in Millions	Dec. 31, 2023 USD ($)
Pension
Defined Benefit Plan Disclosure [Line Items]
2024	$ 50.0
2025	66.3
2026	58.8
2027	62.3
2028	64.7
Years 2029 -2033	341.3
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
2024	1.0
2025	1.2
2026	1.1
2027	1.0
2028	0.9
Years 2029 -2033	$ 3.8

Business Combinations, Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale (Tables)

12 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

Summary of Discontinued Operations and Assets and Liabilities Held for Sale

Financial results for the Company's discontinued operations are as follows:


years ended December 31 (in millions)	2023			2022			2021
Total revenues	$	94.2		$	308.6		$	79.2

Pretax (loss) earnings from operations	$	(16.3	)	$	16.2		$	6.6
Pretax loss on divestitures and sales of assets		(24.0	)		(0.7	)		(6.0	)
Pretax (loss) earnings		(40.3	)		15.5			0.6
Income tax (benefit) expense		(9.4	)		5.0			0.1
(Loss) Earnings from discontinued operations, net of income tax (benefit) expense	$	(30.9	)	$	10.5		$	0.5

Cash flow information for the Company's discontinued operations is as follows:


years ended December 31 (in millions)	2023			2022			2021
Net cash provided by (used for) operating activities	$	0.6		$	(31.6	)	$	(8.2	)
Additions to property, plant and equipment	$	(3.0	)	$	(15.5	)	$	(3.7	)
Proceeds from divestitures and sales of assets		372.0			249.9			—
Net cash provided by (used for) investing activities	$	369.0		$	234.4		$	(3.7	)

Assets and liabilities held for sale are as follows:


	2023
December 31 (in millions)	Continuing Operations
Inventories, net	$	60.6
Investment land		17.9
Other assets		3.7
Property, plant and equipment		327.2
Intangible assets, excluding goodwill		122.3
Operating lease right-of-use assets		15.4
Goodwill		260.0
Total current assets held for sale	$	807.1

Lease obligations	$	(16.3	)
Asset retirement obligations		(1.9	)
Total current liabilities held for sale	$	(18.2	)


	2022
December 31 (in millions)	Continuing Operations		Discontinued Operations			Total
Inventories, net	$	—	$	31.3		$	31.3
Investment land		40.6		—			40.6
Other assets		—		1.3			1.3
Total current assets held for sale	$	40.6	$	32.6		$	73.2

Property, plant and equipment	$	—	$	124.5		$	124.5
Intangible assets, excluding goodwill		—		208.5			208.5
Operating lease right-of-use assets		—		12.1			12.1
Goodwill		—		31.9			31.9
Valuation allowance for loss on sale		—		(4.5	)		(4.5	)
Total noncurrent assets held for sale	$	—	$	372.5		$	372.5

Lease obligations	$	—	$	(4.5	)	$	(4.5	)
Total current liabilities held for sale	$	—	$	(4.5	)	$	(4.5	)

Lease obligations	$	—	$	(4.1	)	$	(4.1	)
Asset retirement obligations		—		(17.7	)		(17.7	)
Total noncurrent liabilities held for sale	$	—	$	(21.8	)	$	(21.8	)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
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-Publisher FASB
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+ Details

Revenues and Gross Profit

12 Months Ended

Dec. 31, 2023

Revenues And Gross Profit [Abstract]

Revenues and Gross Profit

Note P: Revenues and Gross Profit

The following tables, which are reconciled to consolidated amounts, provide total revenues and gross profit (loss) by line of business: Building Materials (further divided by product line) and Magnesia Specialties. Interproduct revenues represent sales from the aggregates product line to the ready mixed concrete and asphalt and paving product lines and sales from the cement product line to the ready mixed concrete product line. Total revenues and gross profit (loss) reflect continuing operations only.


years ended December 31 (in millions) Total revenues	2023			2022			2021
Building Materials business:
Aggregates	$	4,301.6		$	3,879.0		$	3,344.3
Cement		725.5			620.0			509.3
Ready mixed concrete		1,009.3			953.2			1,147.5
Asphalt and paving		887.1			787.9			517.9
Less: interproduct revenues		(461.7	)		(383.4	)		(403.7	)
Total Building Materials business		6,461.8			5,856.7			5,115.3
Magnesia Specialties		315.4			304.0			298.7
Consolidated total revenues	$	6,777.2		$	6,160.7		$	5,414.0

years ended December 31 (in millions) Gross profit (loss)	2023			2022			2021
Building Materials business:
Aggregates	$	1,378.1		$	983.8		$	907.6
Cement		333.6			202.7			155.9
Ready mixed concrete		102.0			70.7			96.5
Asphalt and paving		109.0			81.0			79.9
Total Building Materials business		1,922.7			1,338.2			1,239.9
Magnesia Specialties:		97.1			90.9			106.5
Corporate		2.8			(5.8	)		2.0
Consolidated gross profit	$	2,022.6		$	1,423.3		$	1,348.4

Domestic and foreign total revenues are as follows:


years ended December 31 (in millions)	2023		2022		2021
Domestic	$	6,707.2	$	6,077.6	$	5,338.5
Foreign		70.0		83.1		75.5
Consolidated total revenues	$	6,777.2	$	6,160.7	$	5,414.0

Performance Obligations. Performance obligations are contractual promises to transfer or provide a distinct good or service for a stated price. The Company’s product sales agreements are single-performance obligations that are satisfied at a point in time. Performance obligations within paving service agreements are satisfied over time, primarily ranging from one day to two years. Customer payment terms are generally 30 days from invoice date. Customer payments for the paving operations are based on a contractual billing schedule and are due 30 days from invoice date.

Future revenues from unsatisfied performance obligations at December 31, 2023, 2022 and 2021 were $250.5 million, $239.2 million and $153.9 million, respectively, where the remaining periods to complete these obligations ranged from one month to 22 months at December 31, 2023, two months to 34 months at December 31, 2022 and three months to 12 months at December 31, 2021.

Service Revenues. Service revenues, which include paving operations located in California and Colorado, were $410.7 million, $353.7 million and $259.1 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Contract Balances. Costs in excess of billings relate to the conditional right to consideration for completed contractual performance and are contract assets on the consolidated balance sheets. Costs in excess of billings are reclassified to accounts receivable when the right to consideration becomes unconditional. Billings in excess of costs relate to customers invoiced in advance of contractual performance and are contract liabilities on the consolidated balance sheets. The following table presents information about the Company’s contract balances:


December 31
(in millions)	2023		2022
Costs in excess of billings	$	5.3	$	5.1
Billings in excess of costs	$	10.3	$	10.5

Revenues recognized from the beginning balance of contract liabilities for the years ended December 31, 2023 and 2022 were $10.3 million and $7.7 million, respectively.

Retainage. Retainage, which primarily relates to the paving services, represents amounts that have been billed to customers but payment withheld until final acceptance of the performance obligation by the customer. Included in Other current assets on the Company’s consolidated balance sheets, retainage was $16.6 million and $13.4 million at December 31, 2023 and 2022, respectively.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Note K: Stock-Based Compensation

On May 19, 2016, the Company’s shareholders approved the Martin Marietta Amended and Restated Stock-Based Award Plan. The Martin Marietta Materials, Inc. Stock-Based Award Plan, as amended from time to time, along with the Amended Omnibus Securities Award Plan, originally approved in 1994 (collectively, the Plans), are still effective for awards made prior to 2017. The Company has been authorized by the Board of Directors to repurchase shares of the Company’s common stock for issuance under the stock-based award plans (see Note M).

The Company grants restricted stock awards under the Plans to a group of executive officers, key personnel and nonemployee members of the Board of Directors. The vesting of certain restricted stock awards is based on certain performance criteria over a specified period of time. The number of shares may be increased to the maximum or reduced to the minimum threshold based on the results of those criteria. In addition, certain awards are granted to individuals to encourage retention and motivate key employees. These awards generally vest if the employee is continuously employed over a specified period of time and require no payment from the employee. Awards granted to nonemployee members of the Board of Directors vest immediately.

The fair value of stock-based award grants is expensed over the vesting period. Awards to employees eligible for retirement prior to the award becoming fully vested are expensed over the period through the date that the employee first becomes eligible to retire and is no longer required to provide service to earn the award. Awards granted to nonemployee members of the Board of Directors are expensed immediately.

Additionally, an incentive compensation stock plan has been adopted under the Plans whereby certain participants may elect to use up to 50% of their annual incentive compensation to acquire units representing shares of the Company’s common stock at a 20% discount to the market value on the date of the incentive compensation award. Participants receive unrestricted shares of common stock in an amount equal to their respective units generally at the end of a 34-month period of additional employment from the date of award or at retirement beginning at age 62. All rights of ownership of the common stock convey to the participants upon the issuance of their respective shares at the end of the ownership-vesting period.

The following table summarizes information for restricted stock awards and incentive compensation stock awards for 2023:


	Restricted Stock - Service Based					Restricted Stock - Performance Based					Incentive Compensation Stock
	Number of Awards			Weighted- Average Grant-Date Fair Value		Number of Awards			Weighted- Average Grant-Date Fair Value		Number of Awards			Weighted- Average Grant-Date Fair Value
January 1, 2023		215,644		$	272.86		103,795		$	339.17		32,149		$	341.72
Awarded		60,982		$	369.18		33,103		$	392.73		4,012		$	362.08
Distributed		(59,184	)	$	305.80		(70,370	)	$	266.97		(18,835	)	$	325.48
Forfeited		(6,799	)	$	341.96		(1,626	)	$	371.00		—		$	—
Adjustment for performance		—		$	—		33,248		$	266.97		—		$	—
December 31, 2023		210,643		$	289.26		98,150		$	384.02		17,326		$	364.09

The weighted-average grant-date fair value per share of service-based restricted stock awards granted during 2023, 2022 and 2021 was $369.18, $362.77 and $342.11, respectively. The weighted-average grant-date fair value per share of performance-based restricted stock awards granted during 2023, 2022 and 2021 was $392.73, $406.99 and $352.52, respectively. The weighted-average grant-date fair value per share of incentive compensation stock awards granted during 2023, 2022 and 2021 was $362.08, $369.05 and $325.30, respectively.

The aggregate intrinsic values for unvested restricted stock awards and unvested incentive compensation stock awards at December 31, 2023 were $154.1 million and $3.6 million, respectively, and were based on the closing price of the Company’s common stock at December 31, 2023, which was $498.91. The aggregate intrinsic values of restricted stock awards distributed during the years ended December 31, 2023, 2022 and 2021 were $47.6 million, $64.5 million and $41.1 million, respectively. The aggregate intrinsic values of incentive compensation stock awards distributed during the years ended December 31, 2023, 2022

and 2021 were $3.9 million, $3.1 million and $4.9 million, respectively. The aggregate intrinsic values for distributed awards were based on the closing prices of the Company’s common stock on the dates of distribution.

Prior to 2016, under the Plans, the Company granted options to employees to purchase its common stock at a price equal to the closing market value at the date of grant. Options become exercisable in four annual installments beginning one year after date of grant. Outstanding options expire ten years after the grant date.

The following table includes summary information for stock options as of December 31, 2023:


	Number of Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (years)
Outstanding at January 1, 2023		15,283		$	136.55
Exercised		(9,180	)	$	131.50
Outstanding at December 31, 2023		6,103		$	144.14		1.1

Exercisable at December 31, 2023		6,103		$	144.14		1.1

The aggregate intrinsic values of options exercised during the years ended December 31, 2023, 2022 and 2021 were $2.6 million, $1.3 million and $2.3 million, respectively, and were based on the closing prices of the Company’s common stock on the dates of exercise. The aggregate intrinsic values for options outstanding and exercisable at December 31, 2023 were $2.2 million and were based on the closing price of the Company’s common stock at December 31, 2023, which was $498.91.

At December 31, 2023, there were approximately 0.4 million awards available for grant under the Plans. In 2016, the Company’s shareholders approved the issuance of an additional 0.8 million shares of common stock under the Plans.

In 1996, the Company adopted the Shareholder Value Achievement Plan to award shares of the Company’s common stock to key senior employees based on certain common stock performance criteria over a long-term period. Under the terms of this plan, 0.3 million shares of common stock were reserved for issuance. Through December 31, 2023, 42,025 shares have been issued under this plan. No awards have been granted under this plan since 2000.

The Company adopted and the shareholders approved the Common Stock Purchase Plan for Directors in 1996, which provides nonemployee members of the Board of Directors the election to receive all or a portion of their total fees in the form of the Company’s common stock. Beginning in 2016, members of the Board of Directors were not required to defer any of their fees in the form of the Company’s common stock. Under the terms of this plan, 0.3 million shares of common stock were reserved for issuance. Nonemployee members of the Board of Directors elected to defer portions of their fees representing 1,333, 1,767 and 1,686 shares of the Company’s common stock under this plan during 2023, 2022 and 2021, respectively.


(in millions, except year data)	Restricted Stock		Incentive Compensation Stock		Directors’ Fees Paid in Stock		Total
Stock-based compensation expense recognized for years ended December 31:
2023	$	48.7	$	0.8	$	0.5	$	50.0
2022	$	41.0	$	1.1	$	0.6	$	42.7
2021	$	41.4	$	1.0	$	0.6	$	43.0
Unrecognized compensation cost at December 31, 2023	$	39.5	$	0.4	$	—	$	39.9
Weighted-average period over which unrecognized compensation cost will be recognized	1.8 years		1.3 years

Total tax benefits related to stock-based compensation expense were $8.6 million, $7.6 million and $7.9 million for the years ended December 31, 2023, 2022 and 2021, respectively.

The following presents expected stock-based compensation expense in future periods for outstanding awards as of December 31, 2023:


(in millions)
2024	$	28.2
2025		9.1
2026		1.8
2027		0.7
2028		0.1
Total	$	39.9

Stock-based compensation expense is included in Selling, general and administrative expenses in the Company’s consolidated statements of earnings.

Leases - Summary of Balance Sheet Classifications of Operating and Finance Leases (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Operating Leases:
Operating lease right-of-use assets	$ 371.6	$ 383.5
Current operating lease liabilities	53.3	52.1
Noncurrent operating lease liabilities	326.7	335.9
Total operating lease liabilities	$ 380.0	$ 388.0
Finance Leases:
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Property, plant and equipment	$ 253.5	$ 236.9
Accumulated depreciation	(58.8)	(39.4)
Property, plant and equipment, net	194.7	197.5
Other current liabilities	$ 20.1	$ 17.8
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Other noncurrent liabilities	$ 179.5	$ 182.1
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other noncurrent liabilities	Other noncurrent liabilities
Total finance lease liabilities	$ 199.6	$ 199.9
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities	Liabilities

Retirement Plans, Postretirement and Postemployment Benefits - Schedule of Funded Status (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Accrued benefit credit (cost)	$ 207.6	$ 209.5
Pension
Defined Benefit Plan Disclosure [Line Items]
Funded status of the plan at end of year	207.6	209.5
Accrued benefit credit (cost)	207.6	209.5
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Funded status of the plan at end of year	(8.3)	(8.9)
Accrued benefit credit (cost)	$ (8.3)	$ (8.9)

Stock-Based Compensation - Summary Information for Stock Options (Detail)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of Options, Outstanding at January 1, 2022 \| shares	15,283
Number of Options, Exercised \| shares	(9,180)
Number of Options, Outstanding at December 31, 2022 \| shares	6,103
Number of Options, Exercisable at December 31, 2022 \| shares	6,103
Weighted-Average Exercise Price, Outstanding at January 1, 2022 \| $ / shares	$ 136.55
Weighted-Average Exercise Price, Exercised \| $ / shares	131.5
Weighted-Average Exercise Price, Outstanding at December 31, 2022 \| $ / shares	144.14
Weighted-Average Exercise Price, Exercisable at December 31, 2022 \| $ / shares	$ 144.14
Weighted-Average Remaining Contractual Life (years), Outstanding at December 31, 2022	1 year 1 month 6 days
Weighted-Average Remaining Contractual Life (years), Exercisable at December 31, 2022	1 year 1 month 6 days

Retirement Plans, Postretirement and Postemployment Benefits - Schedule of Amounts Recognized on Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Noncurrent asset pension and postretirement benefits	$ 307.8	$ 295.3
Current pension and postretirement benefits	(7.5)	(6.8)
Noncurrent pension, postretirement and postemployment benefits	(92.7)	(79.0)
Net amount recognized at end of year	207.6	209.5
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Net amount recognized at end of year	(8.3)	(8.9)
Current pension and postretirement benefits	(1.0)	(1.0)
Noncurrent pension, postretirement and postemployment benefits	(7.3)	(7.9)
Net amount recognized at end of year	$ (8.3)	$ (8.9)

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

Shareholders' Equity

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Shareholders' Equity

Note M: Shareholders’ Equity

The authorized capital structure of the Company includes 100.0 million shares of common stock, with a par value of $0.01 per share. At December 31, 2023, approximately 1.1 million common shares were reserved for issuance under stock-based award plans.

Pursuant to authority granted by its Board of Directors, the Company can repurchase up to 20.0 million shares of common stock. During each of 2023 and 2022, the Company repurchased 0.4 million shares of common stock. The Company made no share repurchases during 2021. Future share repurchases are at the discretion of management. At December 31, 2023, 12.7 million shares of common stock were remaining under the Company’s repurchase authorization.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
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+ Details

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	61,821,421	62,102,353
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding	0	0

Long-Term Debt - Schedule of Principal Amount, Effective Interest Rate and Maturity Date for Corporation's Senior Notes (Detail)	12 Months Ended
	Dec. 31, 2023 USD ($)
4.250% Senior Notes, Due 2024
Debt Instrument [Line Items]
Principal Amount	$ 400,000,000
Effective Interest Rate	4.40%
Maturity Date	Jul. 02, 2024
7% Debentures, Due 2025
Debt Instrument [Line Items]
Principal Amount	$ 125,000,000
Effective Interest Rate	7.05%
Maturity Date	Dec. 01, 2025
3.450% Senior Notes, Due 2027
Debt Instrument [Line Items]
Principal Amount	$ 300,000,000
Effective Interest Rate	3.55%
Maturity Date	Jun. 01, 2027
3.500% Senior Notes, Due 2027
Debt Instrument [Line Items]
Principal Amount	$ 494,600,000
Effective Interest Rate	3.61%
Maturity Date	Dec. 15, 2027
2.500% Senior Notes, Due 2030
Debt Instrument [Line Items]
Principal Amount	$ 478,000,000
Effective Interest Rate	2.71%
Maturity Date	Mar. 15, 2030
2.400% Senior Notes, Due 2031
Debt Instrument [Line Items]
Principal Amount	$ 895,900,000
Effective Interest Rate	2.48%
Maturity Date	Jul. 15, 2031
6.25% Senior Notes, Due 2037
Debt Instrument [Line Items]
Principal Amount	$ 230,000,000
Effective Interest Rate	6.32%
Maturity Date	May 01, 2037
4.250% Senior Notes, Due 2047
Debt Instrument [Line Items]
Principal Amount	$ 597,900,000
Effective Interest Rate	4.32%
Maturity Date	Dec. 15, 2047
3.200% Senior Notes, Due 2051
Debt Instrument [Line Items]
Principal Amount	$ 865,900,000
Effective Interest Rate	3.29%
Maturity Date	Jul. 15, 2051

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Consolidated net earnings	$ 1,169.4	$ 866.8	$ 702.8
Defined benefit pension and postretirement plans:
Net (loss) gain arising during period, net of tax of $(5.1), $28.6 and $16.8, respectively	(15.7)	87.9	51.3
Prior service cost arising during period, net of tax of $0.0, $(11.8) and $0.0, respectively		(36.3)
Amortization of prior service cost, net of tax of $1.4, $0.9 and $0.0, respectively	4.2	3.1
Amortization of actuarial loss, net of tax of $0.0, $0.8 and $2.9, respectively		2.9	9.2
Amount recognized in net periodic pension cost due to settlement, net of tax of $0.0, $1.1 and $0.0, respectively		3.5
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	(11.5)	61.1	60.5
Foreign currency translation gain (loss)	0.8	(2.0)	0.3
Other Comprehensive Income (Loss), Net of Tax	(10.7)	59.1	60.8
Consolidated comprehensive earnings	1,158.7	925.9	763.6
Less: Comprehensive earnings attributable to noncontrolling interests			0.3
Comprehensive Earnings Attributable to Martin Marietta	$ 1,158.7	$ 925.9	$ 763.3

Financial Instruments

12 Months Ended

Dec. 31, 2023

Financial Instruments Disclosure [Abstract]

Financial Instruments

Note H: Financial Instruments

The Company’s financial instruments include temporary cash investments, restricted cash, restricted investments, accounts receivable, notes receivable, accounts payable, publicly-registered long-term notes, debentures and other long-term debt.

Temporary cash investments are placed primarily in money market funds, money market demand deposit accounts and Eurodollar time deposit accounts with financial institutions. The Company’s cash equivalents have maturities of less than three months. Due to the short maturity of these investments, they are carried on the consolidated balance sheets at cost, which approximates fair value.

Restricted cash is held in a trust account with a third-party intermediary. Due to the short-term nature of this account, the carrying value of restricted cash approximates its fair value.

Restricted investments at December 31, 2022 were held in a fund that invested solely in U.S. Treasury securities. The estimated fair value of the fund was valued at net asset value, which the fund seeks to maintain at one dollar per share. As such, the carrying value of the restricted investments approximated its fair value. The Company was restricted from accessing the investments, which were used to settle the 0.650% Senior Notes and related interest payments on the maturity date of July 17, 2023.

Accounts receivable are due from a large number of customers, primarily in the construction industry, and are dispersed across wide geographic and economic regions. However, accounts receivable are more heavily concentrated in certain states, namely Texas, North Carolina, Colorado, California, Georgia, Minnesota, Arizona, Iowa, Florida and Indiana. The carrying values of accounts receivable approximate their fair values.

The note receivable at December 31, 2022 was a promissory note with an unconsolidated affiliate (see Note N) and was not publicly traded. Management estimated that the carrying value of the note receivable approximated its fair value. This note was repaid in full in 2023.

Accounts payable represent amounts owed to suppliers and vendors. The estimated carrying value of accounts payable approximates its fair value due to the short-term nature of the payables.

The carrying values and fair values of the Company’s long-term debt were $4.35 billion and $3.88 billion, respectively, at December 31, 2023 and $5.04 billion and $4.36 billion, respectively, at December 31, 2022. The estimated fair value of the Company’s publicly-registered long-term debt was estimated based on Level 1 of the fair value hierarchy using quoted market prices.

Segments - Financial Data for Continuing Operation for Company's Reportable Business Segments (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total Revenues	$ 6,777.2	$ 6,160.7	$ 5,414.0
Earnings (Loss) from operations	1,596.0	1,206.7	973.8
Interest expense	165.3	169.0	142.7
Other nonoperating income, net	(62.1)	(53.4)	(24.4)
Consolidated earnings from continuing operations before income tax expense	1,492.8	1,091.1	855.5
Assets employed	15,124.9	14,993.6	14,393.0
Depreciation, depletion and amortization	513.2	506.0	451.7
Total property additions, including the impact of acquisitions	626.2	544.4	1,541.5
Property additions through acquisitions	0.0	2.5	1,087.5
Reportable Segments
Segment Reporting Information [Line Items]
Earnings (Loss) from operations	1,710.2	1,303.5	1,097.7
Assets employed	13,077.8	13,164.0	13,442.5
Depreciation, depletion and amortization	490.6	483.2	431.3
Total property additions, including the impact of acquisitions	611.8	523.3	1,512.7
Property additions through acquisitions	0.0	2.5	1,087.5
Operating Segments
Segment Reporting Information [Line Items]
Earnings (Loss) from operations	1,634.2	1,228.3	1,006.9
Operating Segments \| Building Materials Business East Group
Segment Reporting Information [Line Items]
Total Revenues	2,763.4	2,468.1	2,303.0
Earnings (Loss) from operations	857.1	640.2	621.7
Assets employed	5,131.1	5,063.5	5,009.0
Depreciation, depletion and amortization	210.1	210.4	196.0
Total property additions, including the impact of acquisitions	230.8	189.1	372.9
Property additions through acquisitions	0.0	0.0	169.2
Operating Segments \| Building Materials Business West Group
Segment Reporting Information [Line Items]
Total Revenues	3,698.4	3,388.6	2,812.3
Earnings (Loss) from operations	777.1	588.1	385.2
Assets employed	7,696.7	7,908.4	8,264.8
Depreciation, depletion and amortization	268.0	260.6	223.0
Total property additions, including the impact of acquisitions	341.7	302.2	1,131.6
Property additions through acquisitions	0.0	2.5	918.3
Operating Segments \| Building Materials Business
Segment Reporting Information [Line Items]
Total Revenues	6,461.8	5,856.7	5,115.3
Assets employed	12,827.8	12,971.9	13,273.8
Depreciation, depletion and amortization	478.1	471.0	419.0
Total property additions, including the impact of acquisitions	572.5	491.3	1,504.5
Property additions through acquisitions	0.0	2.5	1,087.5
Operating Segments \| Magnesia Specialties
Segment Reporting Information [Line Items]
Total Revenues	315.4	304.0	298.7
Earnings (Loss) from operations	76.0	75.2	90.8
Assets employed	250.0	192.1	168.7
Depreciation, depletion and amortization	12.5	12.2	12.3
Total property additions, including the impact of acquisitions	39.3	32.0	8.2
Property additions through acquisitions	0.0	0.0	0.0
Corporate
Segment Reporting Information [Line Items]
Earnings (Loss) from operations	(114.2)	(96.8)	(123.9)
Assets employed	2,047.1	1,829.6	950.5
Depreciation, depletion and amortization	22.6	22.8	20.4
Total property additions, including the impact of acquisitions	14.4	21.1	28.8
Property additions through acquisitions	$ 0.0	$ 0.0	$ 0.0

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended				276 Months Ended	336 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2016	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of incentive compensation to acquire shares, maximum	50.00%
Percentage of discount rate to market value on the incentive compensation	20.00%
Common stock price	$ 498.91				$ 498.91	$ 498.91
Aggregate intrinsic values of options exercised	$ 2.6	$ 1.3	$ 2.3
Aggregate intrinsic values for options exercisable	$ 2.2				$ 2.2	$ 2.2
Awards available for grant	400,000				400,000	400,000
Additional shares issuance under the plan				800,000
Total tax benefits related to stock-based compensation expense	$ 8.6	$ 7.6	$ 7.9
Options granted in 2015 and 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options expiration date	10 years
Incentive Compensation Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value of stock awards, granted	$ 362.08	$ 369.05	$ 325.3
Aggregate intrinsic values for stock awards	$ 3.6				$ 3.6	$ 3.6
Common stock price	$ 498.91				$ 498.91	$ 498.91
Aggregate intrinsic values of stock awards, distributed	$ 3.9	$ 3.1	$ 4.9
Awards granted	4,012
Restricted Stock - Service Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value of stock awards, granted	$ 369.18	$ 362.77	$ 342.11
Awards granted	60,982
Restricted Stock - Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value of stock awards, granted	$ 392.73	$ 406.99	$ 352.52
Awards granted	33,103
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic values for stock awards	$ 154.1				$ 154.1	$ 154.1
Aggregate intrinsic values of stock awards, distributed	$ 47.6	$ 64.5	$ 41.1
Shareholder Value Achievement Plan (1996)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance							300,000
Common stock issued under the plan						42,025
Awards granted					0
Directors' Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance	300,000				300,000	300,000
Common stock issued under the plan	1,333	1,767	1,686

Commitments and Contingencies - Changes in Asset Retirement Obligations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Balance at beginning of year	$ 380.0	$ 306.8	$ 153.8
Accretion expense	10.9	10.6	7.2
Liabilities incurred and liabilities assumed in business combinations	33.8	78.6	179.0
Liabilities settled	(27.7)	(14.1)	(5.2)
Revisions in estimated cash flows	(12.5)	(3.1)	3.5
Liabilities reclassified from/(to) assets held for sale	15.8	1.2	(31.5)
Balance at end of year	$ 400.3	$ 380.0	$ 306.8

Accounts Receivable, Net

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Accounts Receivable, Net

Note D: Accounts Receivable, Net


December 31
(in millions)	2023			2022
Customer receivables	$	746.7		$	781.0
Other current receivables		18.3			15.9
Total accounts receivable		765.0			796.9
Less: allowance for estimated credit losses		(11.7	)		(11.0	)
Accounts receivable, net	$	753.3		$	785.9

Of the total accounts receivable, net, balance, $4.4 million and $3.0 million at December 31, 2023 and 2022, respectively, was due from unconsolidated affiliates.

Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total Revenues	$ 6,777.2	$ 6,160.7	$ 5,414.0
Total cost of revenues	4,754.6	4,737.4	4,065.6
Gross Profit	2,022.6	1,423.3	1,348.4
Selling, general and administrative expenses	442.8	396.7	351.0
Acquisition, divestiture and integration expenses	12.2	9.1	57.9
Other operating income, net	(28.4)	(189.2)	(34.3)
Earnings from Operations	1,596.0	1,206.7	973.8
Interest expense	165.3	169.0	142.7
Other nonoperating income, net	(62.1)	(53.4)	(24.4)
Consolidated earnings from continuing operations before income tax expense	1,492.8	1,091.1	855.5
Income tax expense	292.5	234.8	153.2
Earnings from continuing operations	1,200.3	856.3	702.3
(Loss) Earnings from discontinued operations, net of income tax (benefit) expense	(30.9)	10.5	0.5
Consolidated net earnings	1,169.4	866.8	702.8
Less: Net earnings attributable to noncontrolling interests	0.5	0.0	0.3
Net Earnings Attributable to Martin Marietta	$ 1,168.9	$ 866.8	$ 702.5
Net Earnings (Loss) Attributable to Martin Marietta Per Common Share (see Note A)
Basic earnings per share from continuing operations attributable to common shareholders	$ 19.38	$ 13.74	$ 11.25
Basic earnings per share from discontinued operations attributable to common shareholders	(0.5)	0.17	0.01
Basic attributable to common shareholders	18.88	13.91	11.26
Diluted earnings per share from continuing operations attributable to common shareholders	19.32	13.7	11.21
Diluted earnings per share from discontinued operations attributable to common shareholders	(0.5)	0.17	0.01
Diluted attributable to common shareholders	$ 18.82	$ 13.87	$ 11.22
Weighted-Average Common Shares Outstanding
Basic	61.9	62.3	62.4
Diluted	62.1	62.5	62.6

Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Jul. 17, 2023	Dec. 31, 2022	Sep. 29, 2022
Debt Instrument [Line Items]
Settlement of senior notes and related interest payments		0.65%		0.65%
Long-term debt, carrying values	$ 4,345.2		$ 5,040.0
Long-term debt, fair values	$ 3,880.0		$ 4,360.0
0.650% Senior Notes
Debt Instrument [Line Items]
Settlement of senior notes and related interest payments	0.65%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Accounting Policies - Components of Changes in Accumulated Other Comprehensive Loss and Related Cumulative Noncurrent Deferred Tax Assets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 7,172.8	$ 6,537.6	$ 5,893.3
Ending Balance	8,035.6	7,172.8	6,537.6
Cumulative noncurrent deferred tax assets at end of period	53.8	50.1
Pension and Postretirement Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(36.5)	(97.6)	(158.1)
Other comprehensive (loss) earnings before reclassifications, net of Tax	(15.7)	51.6	51.3
Amounts reclassified from accumulated other comprehensive loss, net of tax	4.2	9.5	9.2
Other comprehensive earnings (loss), net of tax	(11.5)	61.1	60.5
Ending Balance	(48.0)	(36.5)	(97.6)
Cumulative noncurrent deferred tax assets at end of period	53.8	50.1	69.7
Foreign Currency
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(2.0)	0.0	(0.3)
Other comprehensive (loss) earnings before reclassifications, net of Tax	0.8	(2.0)	0.3
Amounts reclassified from accumulated other comprehensive loss, net of tax	0.0	0.0	0.0
Other comprehensive earnings (loss), net of tax	0.8	(2.0)	0.3
Ending Balance	(1.2)	(2.0)	0.0
Cumulative noncurrent deferred tax assets at end of period	0.0	0.0	0.0
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(38.5)	(97.6)	(158.4)
Other comprehensive (loss) earnings before reclassifications, net of Tax	(14.9)	49.6	51.6
Amounts reclassified from accumulated other comprehensive loss, net of tax	4.2	9.5	9.2
Other comprehensive earnings (loss), net of tax	(10.7)	59.1	60.8
Ending Balance	(49.2)	(38.5)	(97.6)
Cumulative noncurrent deferred tax assets at end of period	$ 53.8	$ 50.1	$ 69.7

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

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+ Details

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization expense of intangible assets	$ 27.8	$ 26.6	$ 24.0

Revenues and Gross Profit - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue Recognition [Line Items]
Performance obligations, description of timing	Performance obligations within paving service agreements are satisfied over time, primarily ranging from one day to two years. Customer payment terms are generally 30 days from invoice date. Customer payments for the paving operations are based on a contractual billing schedule and are due 30 days from invoice date.
Product and freight revenues customer payment terms	30 days
Customer payments terms based on contractual billing	30 days
Future revenues from unsatisfied performance obligations	$ 250.5	$ 239.2	$ 153.9
Service revenues	6,777.2	6,160.7	5,414.0
Revenue recognized from contract liabilities	10.3	7.7
Retainage on contracts	16.6	13.4
Service \| CALIFORNIA and COLORADO \| West Group
Revenue Recognition [Line Items]
Service revenues	$ 410.7	$ 353.7	$ 259.1
Minimum \| Service
Revenue Recognition [Line Items]
Performance obligations, period	1 day
Maximum \| Service
Revenue Recognition [Line Items]
Performance obligations, period	2 years

Retirement Plans, Postretirement and Postemployment Benefits - Schedule of Components of Net Periodic Benefit Cost (Credit) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 32.9	$ 48.1	$ 46.2
Interest cost	51.3	41.2	35.7
Expected return on assets	(71.4)	(77.3)	(70.5)
Prior service cost (credit)	5.9	4.9	0.8
Actuarial gain (loss)	0.6	3.9	12.2
Settlement charge (credit)	0.0	4.6	0.0
Total net periodic benefit cost (credit)	19.3	25.4	24.4
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	0.5	0.4	0.3
Prior service cost (credit)	(0.3)	(0.9)	(0.8)
Actuarial gain (loss)	(0.6)	(0.2)	(0.1)
Total net periodic benefit cost (credit)	$ (0.4)	$ (0.7)	$ (0.6)

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Elements [Abstract]

Schedule of Noncash Investing and Financing Activities

Noncash investing and financing activities are as follows:


years ended December 31
(in millions)	2023		2022			2021
Accrued liabilities for purchases of property, plant and equipment	$	128.4	$	152.4		$	92.4
Right-of-use assets obtained in exchange for new operating lease liabilities	$	63.4	$	27.2		$	65.6
Right-of-use assets obtained in exchange for new finance lease liabilities	$	21.9	$	11.7		$	202.3
Remeasurement of operating lease right-of-use assets	$	10.3	$	(2.9	)	$	(12.8	)
Remeasurement of finance lease right-of-use assets	$	—	$	(12.6	)	$	—
Acquisition of assets through asset exchange	$	5.2	$	—		$	—
Accounts payable relieved in connection with sale of property, plant and equipment	$	0.7	$	—		$	—

Supplemental Disclosures of Cash Flow Information

Supplemental disclosures of cash flow information are as follows:


years ended December 31
(in millions)	2023		2022		2021
Cash paid for interest, net of amount capitalized	$	158.9	$	164.7	$	104.9
Cash paid for income taxes	$	291.5	$	200.6	$	102.9
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	76.6	$	78.6	$	71.8
Operating cash flows used for finance leases	$	4.8	$	4.5	$	3.5
Financing cash flows used for finance leases	$	17.6	$	15.0	$	11.1

Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Accounting Policies

Note A: Accounting Policies

Organization. Martin Marietta is a natural resource-based building materials company. The Company supplies aggregates (crushed stone, sand and gravel) through its network of approximately 360 quarries, mines and distribution yards in 28 states, Canada and The Bahamas. Martin Marietta also provides cement and downstream products and services, namely, ready mixed concrete, asphalt and paving, in vertically-integrated structured markets where the Company also has a leading aggregates position. Specifically, the Company has two cement plants and several cement distribution facilities in Texas; ready mixed concrete plants in Arizona and Texas; and asphalt plants in Arizona, California, Colorado and Minnesota. Paving services are located in California and Colorado. As of December 31, 2023, the Company's South Texas cement business and 20 ready mixed concrete operations that serve the Austin and San Antonio region are classified as assets held for sale. The Company’s heavy-side building materials are used in infrastructure, nonresidential and residential construction projects. Aggregates are also used in agricultural, utility and environmental applications and as railroad ballast. The aggregates, cement, ready mixed concrete and asphalt and paving product lines are reported collectively as the Building Materials business.

As of December 31, 2023, the Building Materials business includes two reportable segments: East Group and West Group. The East Group consists of the East and Central divisions and operates in Alabama, Florida, Georgia, Indiana, Iowa, Kansas, Kentucky, Maryland, Minnesota, Missouri, Nebraska, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia, Nova Scotia and The Bahamas. The West Group is comprised of the Southwest and West divisions and operates in Arizona, Arkansas, California, Colorado, Louisiana, Oklahoma, Texas, Utah, Washington and Wyoming. The following states accounted for 82% of the Building Materials business’ 2023 total revenues: Texas, North Carolina, Colorado, California, Georgia, Minnesota, Arizona, Iowa, Florida and Indiana.

The Company also operates a Magnesia Specialties business, which represents a separate reportable segment. The Magnesia Specialties business produces magnesia-based chemical products used in industrial, agricultural and environmental applications, and dolomitic lime sold primarily to customers for steel production and soil stabilization. Magnesia Specialties’ production facilities are located in Ohio and Michigan, and products are shipped to customers domestically and worldwide.

Basis of Presentation and Use of Estimates. The Company’s consolidated financial statements are presented in conformity with accounting principles generally accepted in the United States, which require management to make certain estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities and reported amounts of revenues and expenses. Such estimates include the valuation of investments, accounts receivable, inventories, goodwill, other intangible assets and other long-lived assets, as well as assumptions used in the calculation of income tax expense, retirement and postemployment benefits, stock-based compensation, the allocation of the purchase price to the fair values of assets acquired and liabilities assumed as part of business combinations and revenue recognition for service contracts. These estimates and assumptions are based on management’s judgment. Management evaluates estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and adjusts such estimates and assumptions when facts and circumstances dictate. Changes in credit, equity and energy markets and changes in construction activity increase the uncertainty inherent in certain estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from estimates. Changes in estimates, including those resulting from changes in the economic environment, are reflected in the consolidated financial statements for the period in which the change in estimate occurs.

Basis of Consolidation. The consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. Partially-owned affiliates are either consolidated or accounted for using the cost method or the equity method, depending on the level of ownership interest or the Company’s ability to exercise control over the affiliates’ operations. Intercompany balances and transactions between subsidiaries have been eliminated in consolidation.

Revenue Recognition. Total revenues include sales of products and services provided to customers, net of discounts or allowances, if any, and freight and delivery costs billed to customers. Product revenues are recognized when control of the promised good is transferred to unaffiliated customers, typically when finished products are shipped. Intersegment and interproduct revenues are eliminated in consolidation. Service revenues are derived from the paving business and are recognized using the percentage-of-completion method under the cost-to-cost approach. Under the cost-to-cost approach, recognized contract revenue is determined by multiplying the total estimated contract revenue by the estimated percentage of completion. Contract costs are recognized as incurred. The percentage of completion is determined on a contract-by-contract basis using project costs incurred to date as a

percentage of total estimated project costs. The Company believes the cost-to-cost approach is appropriate, as the use of asphalt in a paving contract is relatively consistent with the performance of the related paving services. When the Company arranges third-party freight to deliver products to customers, the Company has elected the delivery to be a fulfillment activity rather than a separate performance obligation. Further, the Company acts as a principal in the delivery arrangements and, as required by Accounting Standards Codification 606, Revenues from Contracts with Customers (ASC 606), the related revenues and costs are presented gross in the consolidated statements of earnings and are recognized consistently with the timing of the product revenues.

Cash, Cash Equivalents and Restricted Cash. Cash equivalents are comprised of highly-liquid instruments with original maturities of three months or less from the date of purchase.

As of December 31, 2023 and 2022, the Company had $10.5 million and $0.8 million, respectively, of restricted cash, which was invested in an account designated for the purchase of like-kind exchange replacement assets under Section 1031 of the Internal Revenue Code and related IRS procedures (Section 1031). The Company is restricted from utilizing the cash for purposes other than the purchase of qualified assets for 180 days from receipt of the proceeds from the sale of the exchanged property. Any unused cash at the end of the 180 days is transferred to unrestricted accounts of the Company and used for general corporate purposes.

The statements of cash flows reflect cash flow changes and balances for cash, cash equivalents and restricted cash on an aggregated basis. The following table reconciles cash, cash equivalents and restricted cash as reported on the consolidated balance sheets to the aggregated amounts presented on the consolidated statements of cash flows:


December 31 (in millions)	2023		2022		2021
Cash and cash equivalents	$	1,271.8	$	358.0	$	258.4
Restricted cash		10.5		0.8		0.5
Total cash, cash equivalents and restricted cash presented in the consolidated statements of cash flows	$	1,282.3	$	358.8	$	258.9

Restricted Investments. At December 31, 2022, the Company had $704.6 million of restricted investments, representing assets irrevocably transferred to an escrow trust account during 2022 to satisfy and discharge the Company's $700.0 million of 0.650% Senior Notes due 2023 (the 0.650% Senior Notes) (see Note G). The assets in the escrow trust account could not be used for any purpose other than to satisfy the remaining interest payments and to repay the principal amount of the 0.650% Senior Notes that matured on July 15, 2023. The assets transferred to the escrow trust account were invested in a U.S. Treasury securities fund (see Note H) and investment returns on those trust assets were for the account of the Company (after satisfaction of all amounts payable in connection with the 0.650% Senior Notes). The Company consolidated the trust account on its consolidated balance sheet at December 31, 2022. On July 17, 2023, funds in the escrow trust account were applied to satisfy the remaining principal and interest payments and the 0.650% Senior Notes have been paid in full. There were no restricted investments at December 31, 2023.

Accounts Receivable. Accounts receivable are stated at cost. The Company does not typically charge interest on customer accounts receivable. The Company records an allowance for credit losses, which includes a provision for probable losses based on historical write-offs, adjusted for current conditions as deemed necessary, and a specific reserve for accounts deemed at risk. The allowance is the Company’s estimate for receivables as of the balance sheet date that ultimately will not be collected. Any changes in the allowance are reflected in earnings in the period in which the change occurs. The Company writes-off accounts receivable when it becomes probable, based upon customer facts and circumstances, that such amounts will not be collected.

Inventories Valuation. Finished products and in-process inventories are stated at the lower of cost or net realizable value using standard costs, which approximate the first-in, first-out method. Carrying value for parts and supplies are determined by the weighted-average cost method. The Company records an allowance for finished product inventories based on an analysis of future demand and inventory on hand in excess of one year's sales using an average of the last two years of sales. The Company also establishes an allowance for parts over five years old and supplies over a year old.

Post-production stripping costs, which represent costs of removing overburden and waste materials to access mineral deposits, are a component of inventory production costs and recognized as incurred.

Property, Plant and Equipment. Property, plant and equipment are stated at cost.

The estimated service lives for property, plant and equipment are as follows:


Class of Assets		Range of Service Lives
Buildings		5 to 30 years
Machinery & Equipment		2 to 20 years
Land Improvements		5 to 60 years

The Company begins capitalizing quarry development costs at a point when reserves are determined to be proven or probable, economically mineable and when demand supports investment in the market. Capitalization of these costs ceases when production commences. Capitalized quarry development costs are classified as land improvements and depreciated over the life of the reserves.

The Company reviews relevant facts and circumstances to determine whether to capitalize or expense pre-production stripping costs when additional pits are developed at an existing quarry. If the additional pit operates in a separate and distinct area of the quarry, these costs are capitalized as quarry development costs and depreciated over the life of the uncovered reserves. Additionally, a separate asset retirement obligation is created for additional pits when the liability is incurred. Once a pit enters the production phase, all post-production stripping costs are charged to inventory production costs as incurred.

Mineral reserves and mineral interests acquired in connection with a business combination are valued using an income approach for the estimated life of the reserves. The Company’s aggregates reserves average approximately 75 years based on the 2023 annual production level.

Depreciation is computed based on estimated service lives using the straight-line method. Depletion of mineral reserves is calculated based on proven and probable reserves using the units-of-production method on a quarry-by-quarry basis.

Property, plant and equipment are reviewed for impairment whenever facts and circumstances indicate that the carrying amount of an asset group may not be recoverable. An impairment loss is recognized if expected future undiscounted cash flows over the estimated remaining service life of the related asset group are less than the asset group’s carrying value.

Repair and Maintenance Costs. Repair and maintenance costs that do not substantially extend the life of the Company’s plant and equipment are expensed as incurred.

Leases. Pursuant to Accounting Standards Codification 842, Leases (ASC 842), if the Company determines a contract is or contains a lease at the inception of an agreement, the Company records a right-of-use (ROU) asset, which represents the Company’s right to use an underlying leased asset, and a lease liability, which represents the Company’s obligation to make lease payments. The ROU asset and lease liability are recorded on the consolidated balance sheets at the present value of the future lease payments over the lease term at commencement date. The Company determines the present value of lease payments based on the implicit interest rate, which may be explicitly stated in the lease, if available, or may be the Company’s estimated collateralized incremental borrowing rate based on the term of the lease. Initial ROU assets also include any lease payments made at or before commencement date and any initial direct costs incurred and are reduced by lease incentives. Certain of the Company’s leases contain renewal and/or termination options. The Company recognizes renewal or termination options as part of its ROU assets and lease liabilities when the Company has the unilateral right to renew or terminate and it is reasonably certain these options will be exercised.

Some leases require the Company to pay non-lease components, which may include taxes, maintenance, insurance and certain other expenses applicable to the leased property, and are primarily variable costs. The Company accounts for lease and non-lease components as a single amount, with the exception of railcar, fleet vehicle and pipeline leases, for which the Company separately accounts for the lease and non-lease components.

Leases are evaluated and determined to be either finance leases or operating leases. The lease is a finance lease if it transfers ownership to the underlying asset by the end of the lease term; includes a purchase option that is reasonably certain to be exercised; has a lease term for the major part of the remaining economic life of the underlying asset; has a present value of the sum of the lease payments (including renewal options) that equals or exceeds substantially all of the fair value of the underlying asset; or is for an underlying asset that is of a specialized nature and is expected to have no alternative use to the lessor at the end of the lease term. If none of these terms exist, the lease is an operating lease.

Leases with an initial lease term of one year or less are not recorded on the consolidated balance sheets. Costs for these leases are expensed as incurred.

In the consolidated statements of earnings, operating lease expense, which is recognized on a straight-line basis over the lease term, and the amortization of finance lease ROU assets are included in the Total cost of revenues or Selling, general and administrative expenses line items in the consolidated statements of earnings. Accretion on the liabilities for finance leases is included in interest expense.

Goodwill and Other Intangible Assets. Goodwill represents the excess purchase price paid for acquired businesses over the estimated fair value of identifiable assets and liabilities. Other intangible assets represent amounts assigned principally to contractual agreements and are either amortized ratably over the useful lives to the Company or not amortized if deemed to have an indefinite useful life.

The Company’s reporting units, which represent the level at which goodwill is tested for impairment, are based on the operating segments of the Building Materials business. Goodwill is assigned to the respective reporting unit(s) based on the location of acquisitions at the time of consummation. If subsequent organizational changes result in operations being transferred to a different reporting unit, a proportionate amount of goodwill is transferred from the former to the new reporting unit. For divestitures, goodwill is allocated on a proportional basis based on the relative fair values of the portion of the reporting unit being disposed of and the portion of the reporting unit remaining.

Goodwill is tested for impairment by comparing each reporting unit’s fair value to its carrying value, which represents a Step-1 approach. However, prior to Step 1, the Company may perform a qualitative assessment and evaluate macroeconomic conditions, industry and market conditions, cost factors, overall financial performance and other business or reporting unit-specific events that contribute to the fair value of a reporting unit. If the Company concludes, based on its qualitative assessment, it is more-likely-than-not (i.e., a likelihood of more than 50%) that a reporting unit’s fair value is higher than its carrying value, the Company is not required to perform any further goodwill impairment testing for that reporting unit. Otherwise, the Company proceeds to Step 1, and if a reporting unit’s fair value exceeds its carrying value, there is no impairment. A reporting unit with a carrying value in excess of its fair value results in an impairment charge equal to the difference.

The carrying values of goodwill and other indefinite-lived intangible assets are reviewed for impairment annually, as of October 1. An interim review is performed between annual tests if facts and circumstances indicate potential impairment. The carrying value of other amortizable intangible assets is reviewed if facts and circumstances indicate potential impairment. If a review indicates the carrying value is impaired, a charge is recorded equal to the amount by which the carrying value exceeds the fair value.

Retirement Plans and Postretirement Benefits. The Company sponsors defined benefit retirement plans and also provides other postretirement benefits. The Company recognizes the funded status, defined as the difference between the fair value of plan assets and the benefit obligation, of its pension plans and other postretirement benefits as an asset or liability on the consolidated balance sheets. Actuarial gains or losses that arise during the year are recognized as a component of accumulated other comprehensive earnings or loss. Those amounts are amortized over the participants’ average remaining service period and recognized as a component of net periodic benefit cost. The amount amortized is determined on a plan-by-plan basis using a corridor approach and represents the excess over 10% of the greater of the projected benefit obligation or pension plan assets.

Insurance Reserves. The Company has insurance coverage with large deductibles for workers’ compensation, automobile liability, marine liability and general liability claims, and is also self-insured for health claims. The Company records insurance reserves based on an actuarial-determined analysis, which calculates development factors that are applied to total case reserves within the insurance programs. While the Company believes the assumptions used to calculate these liabilities are appropriate, significant differences in actual experience and/or significant changes in these assumptions may materially affect insurance costs.

Stock-Based Compensation. The Company has stock-based compensation plans for employees and its Board of Directors. The Company recognizes all forms of stock-based awards that vest as compensation expense. The compensation expense is the fair value of the awards at the measurement date and is recognized over the requisite service period. Forfeitures are recognized as they occur.

The fair value of restricted stock awards, incentive compensation stock awards and Board of Directors’ fees paid in the form of common stock are based on the closing price of the Company’s common stock on the grant dates. The fair value of performance stock awards as of the grant dates is determined using a Monte Carlo simulation methodology.

Environmental Matters. The Company records a liability for an asset retirement obligation at fair value in the period in which it is incurred. The asset retirement obligation is recorded at the acquisition date of a long-lived tangible asset if the fair value can be reasonably estimated. A corresponding amount is capitalized as part of the asset’s carrying amount. The fair value is affected by management’s assumptions regarding the scope of the work, inflation rates and asset retirement dates.

Further, the Company records an accrual for other environmental remediation liabilities in the period in which it is probable that a liability has been incurred and the appropriate amounts can be estimated reasonably. Such accruals are adjusted as further information develops or circumstances change. Generally, these costs are not discounted to their present value or offset for potential insurance or other claims or potential gains from future alternative uses for a site.

Income Taxes. Deferred income taxes, net, on the consolidated balance sheets reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and the percentage depletion allowed for tax purposes. Deferred tax liabilities for property, plant and equipment result from accelerated depreciation methods being used for income tax purposes as compared with the straight-line method for financial reporting purposes. Deferred tax liabilities related to goodwill and other intangibles reflect the cessation of goodwill amortization for financial reporting purposes, while amortization continued for income tax purposes. The effect of changes in enacted tax rates on deferred income tax assets and liabilities is charged or credited to income tax expense in the period of enactment.

The Company applies the proportional amortization method to equity investments in tax credit programs that meet the following specified criteria: it is probable that the income tax credits allocable to the Company will be available; the Company does not have the ability to exercise significant influence over the operating and financial policies of the underlying project; substantially all of the projected benefits are from income tax credits and other income tax benefits, as determined on a discounted basis; the Company's projected yield based solely on the cash flows from the income tax credits and other income tax benefits is positive; and the Company is a limited liability investor in the limited liability entity for both legal and tax purposes and its liability is limited to its capital investment. Under the proportional amortization method, the equity investment is amortized in proportion to the income tax credits and other income tax benefits received, with the amortization expense and the income tax benefits presented on a net basis in Income tax expense or benefit on the consolidated statements of earnings.

Uncertain Tax Positions. The Company recognizes a tax benefit when it is more-likely-than-not, based on the technical merits, that a tax position would be sustained upon examination by a taxing authority. The amount to be recognized is measured as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. The Company’s unrecognized tax benefits are recorded in other liabilities on the consolidated balance sheets or as an offset to the deferred tax asset for tax carryforwards where available.

The Company records interest accrued in relation to unrecognized tax benefits as income tax expense. Penalties, if incurred, are recorded as operating expenses in the consolidated statements of earnings.

Sales Taxes. The Company is deemed to be an agent when collecting sales taxes from customers. Sales taxes collected from customers are recorded as liabilities until remitted to taxing authorities and therefore are not reflected in the consolidated statements of earnings as revenues and expenses.

Start-Up Costs. Noncapital start-up costs for new facilities and products are charged to operations as incurred.

Consolidated Comprehensive Earnings and Accumulated Other Comprehensive Loss. Consolidated comprehensive earnings consist of consolidated net earnings, adjustments for the funded status of pension and postretirement benefit plans and foreign currency translation adjustments, and are presented in the Company’s consolidated statements of comprehensive earnings.

Accumulated other comprehensive loss consists of unrecognized gains and losses related to the funded status of the pension and postretirement benefit plans and foreign currency translation and is presented on the Company’s consolidated balance sheets.

The components of the changes in accumulated other comprehensive loss and related cumulative noncurrent deferred tax assets are as follows:


years ended December 31	Pension and Postretirement Benefit Plans			Foreign Currency			Total
(in millions)	2023
Accumulated other comprehensive loss at beginning of period	$	(36.5	)	$	(2.0	)	$	(38.5	)
Other comprehensive (loss) earnings before reclassifications, net of tax		(15.7	)		0.8			(14.9	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		4.2			—			4.2
Other comprehensive (loss) earnings, net of tax		(11.5	)		0.8			(10.7	)
Accumulated other comprehensive loss at end of period	$	(48.0	)	$	(1.2	)	$	(49.2	)
Cumulative noncurrent deferred tax assets at end of period	$	53.8		$	—		$	53.8

	2022
Accumulated other comprehensive loss at beginning of period	$	(97.6	)	$	—		$	(97.6	)
Other comprehensive earnings (loss) before reclassifications, net of tax		51.6			(2.0	)		49.6
Amounts reclassified from accumulated other comprehensive loss, net of tax		9.5			—			9.5
Other comprehensive earnings (loss), net of tax		61.1			(2.0	)		59.1
Accumulated other comprehensive loss at end of period	$	(36.5	)	$	(2.0	)	$	(38.5	)
Cumulative noncurrent deferred tax assets at end of period	$	50.1		$	—		$	50.1

	2021
Accumulated other comprehensive loss at beginning of period	$	(158.1	)	$	(0.3	)	$	(158.4	)
Other comprehensive earnings before reclassifications, net of tax		51.3			0.3			51.6
Amounts reclassified from accumulated other comprehensive loss, net of tax		9.2			—			9.2
Other comprehensive earnings, net of tax		60.5			0.3			60.8
Accumulated other comprehensive loss at end of period	$	(97.6	)	$	—		$	(97.6	)
Cumulative noncurrent deferred tax assets at end of period	$	69.7		$	—		$	69.7

Reclassifications out of accumulated other comprehensive loss are as follows:


years ended December 31 (in millions)	2023			2022			2021			Affected line items in the consolidated statements of earnings
Pension and postretirement benefit plans:
Settlement charge	$	—		$	4.6		$	—
Amortization of:
Prior service cost		5.6			4.0			—
Actuarial loss		—			3.7			12.1
		5.6			12.3			12.1		Other nonoperating income, net
Tax effect		(1.4	)		(2.8	)		(2.9	)	Income tax expense
Total	$	4.2		$	9.5		$	9.2

Earnings Per Common Share. The Company computes earnings per common share (EPS) pursuant to the two-class method. The two-class method determines EPS for common stock and participating securities according to dividends or dividend equivalents and their respective participation rights in undistributed earnings.

The numerator for basic and diluted earnings per common share is net earnings attributable to Martin Marietta, reduced by dividends and undistributed earnings attributable to the Company’s participating securities. The denominator for basic earnings per common share is the weighted-average number of common shares outstanding during the period. Diluted earnings per common share is computed assuming that the weighted-average number of common shares is increased by the conversion, using the treasury stock method, of awards issued to employees and nonemployee members of the Company’s Board of Directors under certain stock-based compensation arrangements if the conversion is dilutive.

The following table reconciles the numerator and denominator for basic and diluted earnings from continuing operations per common share:


years ended December 31 (in millions)	2023		2022		2021
Net earnings from continuing operations attributable to Martin Marietta	$	1,199.8	$	856.3	$	702.0
Less: distributed and undistributed earnings attributable to unvested participating securities		—		—		0.2
Basic and diluted net earnings from continuing operations attributable to common shareholders attributable to Martin Marietta	$	1,199.8	$	856.3	$	701.8

Basic weighted-average common shares outstanding		61.9		62.3		62.4
Effect of dilutive employee and director awards		0.2		0.2		0.2
Diluted weighted-average common shares outstanding		62.1		62.5		62.6

Reclassifications. As of December 31, 2023, the Company combined products and services revenues and freight revenues into the Total revenues line item, and combined cost of revenues - products and services and cost of revenues - freight into the Total cost of revenues line item on the Company's consolidated statements of earnings. Prior-year information has been reclassified to conform to the current-year presentation. The reclassifications had no impact on the Company's previously reported results of operations, financial position or cash flows.

New Accounting Pronouncements. In March 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method, which amended the guidance related to accounting for investments in tax credit structures to allow the use of the proportional amortization method if certain conditions are met. The amendments also require certain disclosures in annual and interim reporting periods about an entity's tax credit programs. The Company early adopted ASU 2023-02, which did not have a material impact on the Company's results of operations, cash flows and financial condition, in 2023.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Additionally, it requires a public entity to disclose the title and position of the Chief Operating Decision Maker. The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. This ASU requires companies to apply retrospectively to all prior periods presented in the financial statements. The ASU will impact the Company's disclosures, but will have no impacts to its results of operations, cash flows and financial condition.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which focuses on the rate reconciliation and income taxes paid. ASU 2023-09 requires public entities to disclose, on annual basis, a tabular tax rate reconciliation using both percentages and currency amounts with specific categories, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. Additionally, all entities are required to disclose income taxes paid, net of refunds received, disaggregated by federal, state/local,

and foreign taxes and by individual jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. The ASU also requires additional qualitative disclosures. ASU 2023-09 is effective prospectively for annual periods beginning after December 15, 2024, and early adoption and retrospective application are permitted. The ASU will impact the Company's income tax disclosures, but not its results of operations, cash flows and financial condition.

Consolidated Statements of Total Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared	$ 2.8	$ 2.54	$ 2.36

Income Taxes - Schedule of Unrecognized Tax Benefits Excluding Interest Correlative Effects (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Unrecognized tax benefits at beginning of year	$ 3.6	$ 5.4	$ 8.2
Gross increases – tax positions in prior years	0.3		0.5
Gross increases – tax positions in current year	0.3	0.2	0.1
Lapse of statute of limitations	(3.1)	(2.0)	(3.4)
Unrecognized tax benefits at end of year	1.1	3.6	5.4
Amount that, if recognized, would favorably impact the effective tax rate	$ 1.2	$ 3.7	$ 5.5

Retirement Plans, Postretirement and Postemployment Benefits

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Retirement Plans, Postretirement and Postemployment Benefits

Note J: Retirement Plans, Postretirement and Postemployment Benefits

The Company sponsors defined benefit retirement plans that cover substantially all employees. Additionally, the Company provides other postretirement benefits for certain employees, including medical benefits for retirees and their spouses and retiree life insurance. Employees starting on or after January 1, 2002 are not eligible for postretirement welfare plans. The Company also provides certain benefits, such as disability benefits, to former or inactive employees after employment but before retirement.

The measurement date for the Company’s defined benefit plans, postretirement benefit plans and postemployment benefit plans is December 31. During 2022, the Company amended its qualified pension plan to provide an enhanced benefit for eligible hourly active participants who retire subsequent to April 30, 2022, which resulted in a remeasurement of the qualified pension plan as of February 28, 2022. The remeasurement increased the defined benefit plans’ unrecognized prior service cost by $47.6 million.

Defined Benefit Retirement Plans. Defined retirement benefits for salaried employees are based on each employee’s years of service and average compensation for a specified period of time before retirement. Defined retirement benefits for hourly employees are generally stated amounts for specified periods of service.

The Company sponsors a Supplemental Excess Retirement Plan (SERP) that generally provides for the payment of retirement benefits in excess of allowable Internal Revenue Code limits. The SERP generally provides for a lump-sum payment of vested benefits. When these benefit payments exceed the sum of the service and interest costs for the SERP during a year, the Company recognizes a pro rata portion of the SERP’s unrecognized actuarial loss as settlement expense.

The net periodic benefit cost of defined benefit plans includes the following components:


years ended December 31 (in millions)	2023			2022			2021
Service cost	$	32.9		$	48.1		$	46.2
Interest cost		51.3			41.2			35.7
Expected return on assets		(71.4	)		(77.3	)		(70.5	)
Amortization of:
Prior service cost		5.9			4.9			0.8
Actuarial loss		0.6			3.9			12.2
Settlement charge		—			4.6			—
Net periodic benefit cost	$	19.3		$	25.4		$	24.4

The components of net periodic benefit cost, other than service cost, are included in the line item Other nonoperating income, net, in the consolidated statements of earnings. Based on the roles of the employees, service cost is included in Total cost of revenues or Selling, general and administrative expenses line items in the consolidated statements of earnings.

The expected return on assets is calculated by applying an annually selected expected long-term rate of return assumption to the estimated fair value of the plan assets during the year, giving consideration to contributions and benefits paid.

The Company recognized the following pretax amounts in consolidated comprehensive earnings:


years ended December 31
(in millions)	2023			2022			2021
Actuarial loss (gain)	$	20.9		$	(114.5	)	$	(67.5	)
Prior service cost		—			48.1			—
Amortization of:
Prior service cost		(5.9	)		(4.9	)		(0.8	)
Actuarial loss		(0.6	)		(3.9	)		(12.2	)
Settlement charge		—			(4.6	)		—
Total	$	14.4		$	(79.8	)	$	(80.5	)

Accumulated other comprehensive loss includes the following amounts that have not yet been recognized in net periodic benefit cost:


December 31	2023				2022
(in millions)	Gross		Net of tax		Gross		Net of tax
Prior service cost	$	42.4	$	20.0	$	48.2	$	20.3
Actuarial loss		63.4		29.9		43.2		18.2
Total	$	105.8	$	49.9	$	91.4	$	38.5

The defined benefit plans’ change in projected benefit obligation is as follows:


years ended December 31
(in millions)	2023			2022
Net projected benefit obligation at beginning of year	$	857.6		$	1,135.5
Service cost		32.9			48.1
Interest cost		51.3			41.2
Actuarial loss (gain)		72.6			(363.3	)
Gross benefits paid		(45.2	)		(52.0	)
Plan amendments		—			48.1
Net projected benefit obligation at end of year	$	969.2		$	857.6

The largest component of the actuarial loss in 2023 was the lower discount rate compared with 2022. The actuarial gain in 2022 was primarily attributable to a higher discount rate compared with 2021.

The Company’s change in plan assets, funded status and amounts recognized on the Company’s consolidated balance sheets are as follows:


years ended December 31
(in millions)	2023			2022
Fair value of plan assets at beginning of year	$	1,067.1		$	1,200.3
Actual return on plan assets, net		123.1			(171.4	)
Employer contributions		31.8			90.2
Gross benefits paid		(45.2	)		(52.0	)
Fair value of plan assets at end of year	$	1,176.8		$	1,067.1


December 31
(in millions)	2023		2022
Funded status of the plan at end of year	$	207.6	$	209.5
Accrued benefit credit	$	207.6	$	209.5


December 31
(in millions)	2023			2022
Amounts recognized on consolidated balance sheets consist of:
Noncurrent asset	$	307.8		$	295.3
Current liability		(7.5	)		(6.8	)
Noncurrent liability		(92.7	)		(79.0	)
Net amount recognized at end of year	$	207.6		$	209.5

The accumulated benefit obligation for all defined benefit pension plans was $881.9 million and $789.6 million at December 31, 2023 and 2022, respectively.

Benefit obligations and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets are as follows:


December 31
(in millions)	2023		2022
Projected benefit obligation	$	100.7	$	86.3
Accumulated benefit obligation	$	90.9	$	79.5
Fair value of plan assets	$	0.5	$	0.5

Weighted-average assumptions used to determine benefit obligations as of December 31 are:


	2023	2022
Discount rate	5.58%	5.88%
Rate of increase in future compensation levels	4.50%	4.50%

Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31 are:


	2023	2022	2021
Discount rate	5.88%	3.44%	3.16%
Rate of increase in future compensation levels	4.50%	4.50%	4.50%
Expected long-term rate of return on assets	6.75%	6.75%	6.75%

The expected long-term rate of return on pension fund assets is based on the current asset class mix of the Company's pension plan assets, current capital market conditions and a stochastic forecast of future conditions.

As of December 31, 2023 and 2022, the Company estimated the remaining lives of participants in the pension plans using the Pri-2012 Base tables. The no-collar table was used for salaried participants and the blue-collar table was used for hourly participants; the tables were adjusted to reflect both the mortality experience of the Company’s participants and a geospatial mortality analysis. These adjustments were updated from December 31, 2022, where the Pri-2012 tables were only adjusted based on the experience of the Company's participants. The Company used the MP-2020 mortality improvement scale for 2023 and 2022.

Retirement plan assets are invested in listed stocks, bonds, real estate, private infrastructure and cash equivalents. The target allocation for 2023 and the actual pension plan asset allocation by asset class are as follows:


	Percentage of Plan Assets
		2023
		Target	December 31
Asset Class		Allocation	2023	2022
Equity securities		56%	53%	54%
Debt securities		28%	27%	24%
Real estate		10%	12%	14%
Private infrastructure		6%	8%	8%
Total		100%	100%	100%

The Company’s investment strategy is for equity securities to be invested in mid-sized to large capitalization U.S. funds, and small capitalization, international and emerging growth funds. Debt securities, or fixed income investments, are invested in funds benchmarked to the Barclays U.S. Aggregate Bond Index.

The fair values of pension plan assets by asset class and fair value hierarchy level are as follows:


	Fair Value Measurements
December 31		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value		Total Fair Value
(in millions)		2023
Equity securities1:
Mid-sized to large cap		$	—	$	—	$	—	$	307.2	$	307.2
Small cap, international and emerging growth funds			—		—		—		319.5		319.5
Debt securities1:
Core fixed income			—		—		—		319.2		319.2
Real estate			—		—		—		136.7		136.7
Private infrastructure			—		—		—		90.2		90.2
Cash equivalents			—		—		—		4.0		4.0
Total		$	—	$	—	$	—	$	1,176.8	$	1,176.8

		2022
Equity securities1:
Mid-sized to large cap		$	—	$	—	$	—	$	291.6	$	291.6
Small cap, international and emerging growth funds			—		—		—		287.2		287.2
Debt securities1:
Core fixed income			—		—		—		249.1		249.1
Real estate			—		—		—		151.5		151.5
Private infrastructure			—		—		—		83.1		83.1
Cash equivalents			0.2		—		—		4.4		4.6
Total		$	0.2	$	—	$	—	$	1,066.9	$	1,067.1

Real estate investments are stated at estimated fair value, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Real estate investments are valued at NAV based on the plan’s proportionate shares of the real estate funds’ fair value as recorded by the trustees/general partner of the funds. The funds are real estate investment trust based funds that offer participation in an actively managed, primarily core portfolio of equity real estate. The funds allocate gains, losses and expenses to investors based on the ownership percentage to determine the NAV. Private infrastructure assets represent investments in a fund that is stated at fair value. For financial assets in the fund that are actively traded in organized financial markets, fair value is based on exchange-quoted market prices. For investments in a fund for which there is no quoted market price, fair value is determined by the trustees/general partner of the fund based on discounted expected future cash flows prepared by third-party professionals.

In 2023 and 2022, the Company made combined pension plan and SERP contributions of $31.8 million and $90.2 million, respectively. The Company currently estimates that it will contribute $32.7 million to its pension plans in 2024.

The expected benefit payments to be paid from plan assets for each of the next five years and the five-year period thereafter are as follows:


(in millions)
2024	$	50.0
2025	$	66.3
2026	$	58.8
2027	$	62.3
2028	$	64.7
Years 2029 - 2033	$	341.3

Postretirement Benefits. The net periodic benefit credit for postretirement plans includes the following components:


years ended December 31
(in millions)	2023			2022			2021
Interest cost	$	0.5		$	0.4		$	0.3
Amortization of:
Prior service credit		(0.3	)		(0.9	)		(0.8	)
Actuarial gain		(0.6	)		(0.2	)		(0.1	)
Total net periodic benefit credit	$	(0.4	)	$	(0.7	)	$	(0.6	)

The components of net periodic benefit credit, other than service cost, are included in the line item Other nonoperating income, net, in the consolidated statements of earnings.

The Company recognized the following pretax amounts in consolidated comprehensive earnings:


years ended December 31
(in millions)	2023			2022			2021
Actuarial gain	$	(0.1	)	$	(2.0	)	$	(0.6	)
Amortization of:
Prior service credit		0.3			0.9			0.8
Actuarial gain		0.6			0.2			0.1
Total	$	0.8		$	(0.9	)	$	0.3

Accumulated other comprehensive loss includes the following amounts that have not yet been recognized in net periodic benefit credit:


December 31	2023						2022
(in millions)	Gross			Net of tax			Gross			Net of tax
Prior service credit	$	(0.4	)	$	(0.2	)	$	(0.7	)	$	(0.3	)
Actuarial gain		(3.7	)		(1.7	)		(4.1	)		(1.7	)
Total	$	(4.1	)	$	(1.9	)	$	(4.8	)	$	(2.0	)

The postretirement health care plans’ change in benefit obligation is as follows:


years ended December 31
(in millions)	2023			2022
Net benefit obligation at beginning of year	$	8.9		$	11.4
Interest cost		0.5			0.4
Participants’ contributions		0.7			0.6
Actuarial gain		(0.1	)		(1.9	)
Gross benefits paid		(1.7	)		(1.6	)
Net benefit obligation at end of year	$	8.3		$	8.9

The postretirement health care plans’ change in plan assets, funded status and amounts recognized on the Company’s consolidated balance sheets are as follows:


years ended December 31
(in millions)	2023			2022
Fair value of plan assets at beginning of year	$	—		$	—
Employer contributions		1.0			1.0
Participants’ contributions		0.7			0.6
Gross benefits paid		(1.7	)		(1.6	)
Fair value of plan assets at end of year	$	—		$	—


December 31
(in millions)	2023			2022
Funded status of the plan at end of year	$	(8.3	)	$	(8.9	)
Accrued benefit cost	$	(8.3	)	$	(8.9	)


December 31
(in millions)	2023			2022
Amounts recognized on consolidated balance sheets consist of:
Current liability	$	(1.0	)	$	(1.0	)
Noncurrent liability		(7.3	)		(7.9	)
Net amount recognized at end of year	$	(8.3	)	$	(8.9	)

Weighted-average assumptions used to determine the postretirement benefit obligation as of December 31 are:


	2023	2022
Discount rate	5.79%	6.02%

Weighted-average assumptions used to determine net postretirement benefit credit for the years ended December 31 are:


	2023	2022	2021
Discount rate	6.02%	3.02%	2.48%

As of December 31, 2023 and 2022, the Company estimated the remaining lives of participants in the postretirement benefit plans using the Pri-2012 Base tables. The no-collar table was used for salaried participants and the blue-collar table was used for hourly participants; both tables were adjusted to reflect the experience of the Company’s participants. The Company used the MP-2020 mortality improvement scale for 2023 and 2022.

Assumed health care cost trend rates at December 31 are:


	2023	2022
Health care cost trend rate assumed for next year	6.50%	6.75%
Rate to which the cost trend rate gradually declines	4.75%	4.75%
Year the rate reaches the ultimate rate	2031	2031

The Company estimates that it will contribute $1.0 million to its postretirement health care plans in 2024.

The total expected benefit payments to be paid by the Company, net of participant contributions, for each of the next five years and the five-year period thereafter are as follows:


(in millions)
2024	$	1.0
2025	$	1.2
2026	$	1.1
2027	$	1.0
2028	$	0.9
Years 2029 - 2033	$	3.8

Defined Contribution Plan. The Company maintains a defined contribution plan that covers substantially all employees. This plan, qualified under Section 401(a) of the Internal Revenue Code, is a retirement savings and investment plan for the Company’s salaried and hourly employees. Under certain provisions of the plan, the Company matches employees’ eligible contributions at established rates. The Company’s matching obligations were $22.3 million in 2023, $23.1 million in 2022 and $20.5 million in 2021.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Segments (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Financial Data for Continuing Operation for Company's Reportable Business Segments


years ended December 31 (in millions) Total revenues	2023		2022		2021
East Group	$	2,763.4	$	2,468.1	$	2,303.0
West Group		3,698.4		3,388.6		2,812.3
Total Building Materials business		6,461.8		5,856.7		5,115.3
Magnesia Specialties		315.4		304.0		298.7
Total	$	6,777.2	$	6,160.7	$	5,414.0


years ended December 31 (in millions) Earnings (Loss) from operations	2023			2022			2021
East Group	$	857.1		$	640.2		$	621.7
West Group		777.1			588.1			385.2
Total Building Materials business		1,634.2			1,228.3			1,006.9
Magnesia Specialties		76.0			75.2			90.8
Total reportable segments		1,710.2			1,303.5			1,097.7
Corporate		(114.2	)		(96.8	)		(123.9	)
Consolidated earnings from operations		1,596.0			1,206.7			973.8
Interest expense		165.3			169.0			142.7
Other nonoperating income, net		(62.1	)		(53.4	)		(24.4	)
Consolidated earnings from continuing operations before income tax expense	$	1,492.8		$	1,091.1		$	855.5

Earnings from operations for the West Group included a nonrecurring gain on divestiture of $151.9 million in 2022.


December 31 (in millions) Assets employed	2023		2022		2021
East Group	$	5,131.1	$	5,063.5	$	5,009.0
West Group		7,696.7		7,908.4		8,264.8
Total Building Materials business		12,827.8		12,971.9		13,273.8
Magnesia Specialties		250.0		192.1		168.7
Total reportable segments		13,077.8		13,164.0		13,442.5
Corporate		2,047.1		1,829.6		950.5
Total	$	15,124.9	$	14,993.6	$	14,393.0


years ended December 31 (in millions) Depreciation, depletion and amortization	2023		2022		2021
East Group	$	210.1	$	210.4	$	196.0
West Group		268.0		260.6		223.0
Total Building Materials business		478.1		471.0		419.0
Magnesia Specialties		12.5		12.2		12.3
Total reportable segments		490.6		483.2		431.3
Corporate		22.6		22.8		20.4
Total	$	513.2	$	506.0	$	451.7


years ended December 31 (in millions) Total property additions, including the impact of acquisitions	2023		2022		2021
East Group	$	230.8	$	189.1	$	372.9
West Group		341.7		302.2		1,131.6
Total Building Materials business		572.5		491.3		1,504.5
Magnesia Specialties		39.3		32.0		8.2
Total reportable segments		611.8		523.3		1,512.7
Corporate		14.4		21.1		28.8
Total	$	626.2	$	544.4	$	1,541.5


years ended December 31 (in millions) Property additions through acquisitions	2023		2022		2021
East Group	$	—	$	—	$	169.2
West Group		—		2.5		918.3
Total Building Materials business		—		2.5		1,087.5
Magnesia Specialties		—		—		—
Total reportable segments		—		2.5		1,087.5
Corporate		—		—		—
Total	$	—	$	2.5	$	1,087.5

Accounting Policies - Additional Information (Detail)	12 Months Ended
Accounting Policies - Additional Information (Detail)	Dec. 31, 2023 USD ($) Plant Facility State	Dec. 31, 2022 USD ($)	Jul. 17, 2023	Sep. 29, 2022	Dec. 31, 2021 USD ($)
Significant Accounting Policies [Line Items]
Number of quarries and yards \| Facility	360
Number of states in which entity operates \| State	28
Number of ready mixed concrete operations \| Plant	20
Restricted cash	$ 10,500,000	$ 800,000			$ 500,000
Number of days restricted from utilizing cash	180 days
Restricted investments	$ 0	704,600,000
Interest rate on notes			0.65%	0.65%
Retirement plans and postretirement benefits amortized amount representing percentage of greater of projected benefit obligation or pension plan assets.	10.00%
Minimum likelihood for recognition of tax benefit related to uncertain tax position	50.00%
Percentage of minimum amount of income tax payments net of refunds received	5.00%
0.650% Senior Notes, Due 2023
Significant Accounting Policies [Line Items]
Debt instrument, face amount		$ 700,000,000
Interest rate on notes	0.65%	0.65%
Maturity year	2023	2023
Inventory Finished Goods \| Minimum
Significant Accounting Policies [Line Items]
Allowance for inventories in excess of sales requisite record period	1 year
Inventory Finished Goods \| Weighted Average
Significant Accounting Policies [Line Items]
Allowance for inventories in excess of sales requisite record period	2 years
Expendable Parts Inventory
Significant Accounting Policies [Line Items]
Allowance for inventories in excess of sales requisite record period	5 years
Supplies Inventory
Significant Accounting Policies [Line Items]
Allowance for inventories in excess of sales requisite record period	1 year
Texas
Significant Accounting Policies [Line Items]
Number of cement plants \| Plant	2
Percentage of Aggregate Business Net Sales in Top Ten Sales states \| Geographic Concentration Risk \| Sales Revenue Segment
Significant Accounting Policies [Line Items]
Total net sales, percentage	82.00%

Income Taxes - Components of Income Tax Expense From Continuing Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Federal income taxes:
Current	$ 264.0	$ 174.9	$ 66.3
Deferred	(11.4)	18.0	61.4
Total federal income taxes	252.6	192.9	127.7
State income taxes:
Current	42.7	35.1	18.7
Deferred	(3.0)	5.3	6.5
Total state income taxes	39.7	40.4	25.2
Foreign income taxes:
Current	0.2	1.2	0.0
Deferred	0.0	0.3	0.3
Total foreign income taxes	0.2	1.5	0.3
Income tax expense	$ 292.5	$ 234.8	$ 153.2

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	$ 50.0	$ 42.7	$ 43.0
Unrecognized compensation cost	39.9
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	48.7	41.0	41.4
Unrecognized compensation cost	$ 39.5
Weighted-average period over which unrecognized compensation cost will be recognized	1 year 9 months 18 days
Incentive Compensation Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	$ 0.8	1.1	1.0
Unrecognized compensation cost	$ 0.4
Weighted-average period over which unrecognized compensation cost will be recognized	1 year 3 months 18 days
Directors' Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	$ 0.5	$ 0.6	$ 0.6
Unrecognized compensation cost	$ 0.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
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-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (a)(3)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (c)(1)(iv)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (c)(2)(i)
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities:
Consolidated net earnings	$ 1,169.4	$ 866.8	$ 702.8
Adjustments to reconcile consolidated net earnings to net cash provided by operating activities:
Depreciation, depletion and amortization	513.2	506.0	451.7
Stock-based compensation expense	50.0	42.7	43.0
Net gains on divestitures, sales of assets and extinguishment of debt	(1.9)	(195.7)	(21.7)
Deferred income taxes, net	(36.1)	(0.6)	92.2
Other items, net	(16.5)	(11.7)	(14.9)
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures:
Accounts receivable, net	31.4	(12.1)	(194.4)
Inventories, net	(188.7)	(131.7)	73.2
Accounts payable	(17.0)	(31.2)	109.8
Other assets and liabilities, net	24.6	(41.3)	(104.0)
Net Cash Provided by Operating Activities	1,528.4	991.2	1,137.7
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(650.3)	(481.8)	(423.1)
Acquisitions, net of cash acquired	0.0	11.0	(3,109.2)
Proceeds from divestitures and sales of assets	426.5	687.1	42.8
Proceeds from sale of restricted investments to discharge long term debt	700.0	0.0	0.0
Purchase of restricted investments to discharge long-term debt	0.0	(704.6)	0.0
Repayment of note receivable from affiliate	6.0	0.0	0.0
Investments in life insurance contracts, net	7.4	7.5	14.9
Investments in limited liability company	(27.0)	0.0	0.0
Other investing activities, net	(3.9)	(3.0)	0.0
Net Cash Provided by (Used for) Investing Activities	458.7	(483.8)	(3,474.6)
Cash Flows from Financing Activities:
Borrowings of long-term debt	0.0	0.0	2,896.7
Repayments of long-term debt	(700.0)	(54.5)	(420.1)
Debt issuance and extinguishment costs	(0.7)	(0.7)	(7.5)
Payments on finance lease obligations	(17.6)	(15.0)	(11.1)
Dividends paid	(174.0)	(159.1)	(147.8)
Repurchases of common stock	(150.0)	(150.0)	0.0
Contributions by noncontrolling interest to joint venture	0.1	0.0	0.0
Distributions to owners of noncontrolling interest	(0.5)	0.0	(0.6)
Proceeds from exercise of stock options	1.2	0.6	1.3
Shares withheld for employees’ income tax obligations	(22.1)	(28.8)	(19.5)
Net Cash (Used for) Provided by Financing Activities	(1,063.6)	(407.5)	2,291.4
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	923.5	99.9	(45.5)
Cash, Cash Equivalents and Restricted Cash, beginning of year	358.8	258.9	304.4
Cash, Cash Equivalents and Restricted Cash, end of year	$ 1,282.3	$ 358.8	$ 258.9

Leases - Summary of Future Lease Payments (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
Present value of lease payments	$ (380.0)	$ (388.0)
Less: current lease obligations	(53.3)	(52.1)
Total long-term lease obligations	326.7	335.9
Financing Leases
Total finance lease liabilities	199.6	199.9
Less: current lease obligations	(20.1)	(17.8)
Total long-term lease obligations	179.5	$ 182.1
Discontinued Operations
Operating Leases
Present value of lease payments	(15.5)
Financing Leases
Total finance lease liabilities	0.8
Continuing Operations
Operating Leases
2024	69.1
2025	60.8
2026	52.2
2027	42.1
2028	36.4
Thereafter	254.3
Total lease payments	514.9
Less: imputed interest	(119.4)
Present value of lease payments	(395.5)
Less: current lease obligations	(53.3)
Total long-term lease obligations	326.7
Financing Leases
2024	25.0
2025	21.1
2026	13.9
2027	12.8
2028	12.0
Thereafter	171.5
Total lease payments	256.3
Less: imputed interest	(55.9)
Total finance lease liabilities	200.4
Less: current lease obligations	(20.1)
Total long-term lease obligations	$ 179.5

Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Organization

Basis of Presentation and Use of Estimates

Basis of Consolidation

Revenue Recognition

Cash, Cash Equivalents and Restricted Cash

Cash, Cash Equivalents and Restricted Cash. Cash equivalents are comprised of highly-liquid instruments with original maturities of three months or less from the date of purchase.


December 31 (in millions)	2023		2022		2021
Cash and cash equivalents	$	1,271.8	$	358.0	$	258.4
Restricted cash		10.5		0.8		0.5
Total cash, cash equivalents and restricted cash presented in the consolidated statements of cash flows	$	1,282.3	$	358.8	$	258.9

Restricted Investments

Accounts Receivable

Inventories Valuation

Post-production stripping costs, which represent costs of removing overburden and waste materials to access mineral deposits, are a component of inventory production costs and recognized as incurred.

Property, Plant and Equipment

Property, Plant and Equipment. Property, plant and equipment are stated at cost.

The estimated service lives for property, plant and equipment are as follows:


Class of Assets		Range of Service Lives
Buildings		5 to 30 years
Machinery & Equipment		2 to 20 years
Land Improvements		5 to 60 years

Repair and Maintenance Costs

Repair and Maintenance Costs. Repair and maintenance costs that do not substantially extend the life of the Company’s plant and equipment are expensed as incurred.

Leases

Leases with an initial lease term of one year or less are not recorded on the consolidated balance sheets. Costs for these leases are expensed as incurred.

Goodwill and Other Intangible Assets

Retirement Plans and Postretirement Benefits

Insurance Reserves

Stock-Based Compensation

Environmental Matters

Income Taxes

Uncertain Tax Positions

Sales Taxes

Start-Up Costs

Start-Up Costs. Noncapital start-up costs for new facilities and products are charged to operations as incurred.

Consolidated Comprehensive Earnings and Accumulated Other Comprehensive Loss

The components of the changes in accumulated other comprehensive loss and related cumulative noncurrent deferred tax assets are as follows:


years ended December 31	Pension and Postretirement Benefit Plans			Foreign Currency			Total
(in millions)	2023
Accumulated other comprehensive loss at beginning of period	$	(36.5	)	$	(2.0	)	$	(38.5	)
Other comprehensive (loss) earnings before reclassifications, net of tax		(15.7	)		0.8			(14.9	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		4.2			—			4.2
Other comprehensive (loss) earnings, net of tax		(11.5	)		0.8			(10.7	)
Accumulated other comprehensive loss at end of period	$	(48.0	)	$	(1.2	)	$	(49.2	)
Cumulative noncurrent deferred tax assets at end of period	$	53.8		$	—		$	53.8

	2022
Accumulated other comprehensive loss at beginning of period	$	(97.6	)	$	—		$	(97.6	)
Other comprehensive earnings (loss) before reclassifications, net of tax		51.6			(2.0	)		49.6
Amounts reclassified from accumulated other comprehensive loss, net of tax		9.5			—			9.5
Other comprehensive earnings (loss), net of tax		61.1			(2.0	)		59.1
Accumulated other comprehensive loss at end of period	$	(36.5	)	$	(2.0	)	$	(38.5	)
Cumulative noncurrent deferred tax assets at end of period	$	50.1		$	—		$	50.1

	2021
Accumulated other comprehensive loss at beginning of period	$	(158.1	)	$	(0.3	)	$	(158.4	)
Other comprehensive earnings before reclassifications, net of tax		51.3			0.3			51.6
Amounts reclassified from accumulated other comprehensive loss, net of tax		9.2			—			9.2
Other comprehensive earnings, net of tax		60.5			0.3			60.8
Accumulated other comprehensive loss at end of period	$	(97.6	)	$	—		$	(97.6	)
Cumulative noncurrent deferred tax assets at end of period	$	69.7		$	—		$	69.7

Reclassifications out of accumulated other comprehensive loss are as follows:


years ended December 31 (in millions)	2023			2022			2021			Affected line items in the consolidated statements of earnings
Pension and postretirement benefit plans:
Settlement charge	$	—		$	4.6		$	—
Amortization of:
Prior service cost		5.6			4.0			—
Actuarial loss		—			3.7			12.1
		5.6			12.3			12.1		Other nonoperating income, net
Tax effect		(1.4	)		(2.8	)		(2.9	)	Income tax expense
Total	$	4.2		$	9.5		$	9.2

Earnings Per Common Share

The following table reconciles the numerator and denominator for basic and diluted earnings from continuing operations per common share:


years ended December 31 (in millions)	2023		2022		2021
Net earnings from continuing operations attributable to Martin Marietta	$	1,199.8	$	856.3	$	702.0
Less: distributed and undistributed earnings attributable to unvested participating securities		—		—		0.2
Basic and diluted net earnings from continuing operations attributable to common shareholders attributable to Martin Marietta	$	1,199.8	$	856.3	$	701.8

Basic weighted-average common shares outstanding		61.9		62.3		62.4
Effect of dilutive employee and director awards		0.2		0.2		0.2
Diluted weighted-average common shares outstanding		62.1		62.5		62.6

Reclassifications

New Accounting Pronouncements

Revenues and Gross Profit - Summary of Information About the Company's Contract Balances (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Costs in excess of billings	$ 5.3	$ 5.1
Billings in excess of costs	$ 10.3	$ 10.5

Accounts Receivable, Net - Schedule of Accounts Receivable Net (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Customer receivables	$ 746.7	$ 781.0
Other current receivables	18.3	15.9
Total accounts receivable	765.0	796.9
Less: allowance for estimated credit losses	(11.7)	(11.0)
Accounts receivable, net	$ 753.3	$ 785.9

Commitments and Contingencies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) Railcars	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Commitments And Contingencies [Line Items]
Purchase commitments for property, plant and equipment	$ 395.2
Asset retirement obligation depreciation and accretion	17.1	$ 15.5	$ 11.9
Liability reserve for insurance claims	46.9	48.2
Outstanding letters of credit	$ 32.2
Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration]	Related Party
Capital expenditures	$ 111.4	89.6	$ 99.0
Capital expenditures	$ 42.7
Percentage of employees represented in labor union	12.00%
Number of Railcars Commitment \| Railcars	394
Woodville
Commitments And Contingencies [Line Items]
Collective bargaining agreement expiration month year	2026-06
Magnesia Specialties
Commitments And Contingencies [Line Items]
Collective bargaining agreement expiration month year	2027-08
South Texas Cement Business
Commitments And Contingencies [Line Items]
Purchase commitments for property, plant and equipment	$ 50.7
Interest-only loan receivable \| Related Party
Commitments And Contingencies [Line Items]
Other Receivables		6.0
Surety Bonds
Commitments And Contingencies [Line Items]
Surety bonds	698.3
Revolving Facility
Commitments And Contingencies [Line Items]
Outstanding letters of credit	2.6	$ 2.6
Capital Addition Purchase Commitments
Commitments And Contingencies [Line Items]
Purchase commitments for property, plant and equipment	162.1
Energy And Service Contracts
Commitments And Contingencies [Line Items]
Purchase commitments for property, plant and equipment	$ 233.1

Business Combinations, Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale - Additional Information (Detail) $ in Millions							6 Months Ended	12 Months Ended
	Feb. 11, 2024 USD ($) Facility	Jan. 12, 2024	Nov. 21, 2023 USD ($) Plant	Oct. 31, 2023 USD ($)	Jul. 15, 2022 USD ($)	Apr. 01, 2022 USD ($)	Jun. 30, 2022 USD ($) Plant	Dec. 31, 2023 USD ($) Plant	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Pretax loss on divestiture				$ (26.3)				$ (24.0)	$ (0.7)	$ (6.0)
Business combination number of south texas ready mix operations \| Plant			20					20
Business combination number of California ready mix operations \| Plant							14
Interest payable					$ 15.0
Business Combination, periods for production level		60 years
Revenues			$ 2,100.0	$ 315.0			$ 235.0
Colorado and Central Texas
Business Acquisition [Line Items]
Pretax gain (loss)						$ 151.9			$ 151.9
Alabama Definitive Agreement
Business Acquisition [Line Items]
Number of active aggregates operations \| Facility	20
Payments to acquire businesses gross	$ 2,050.0

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Note I: Income Taxes

The components of the Company’s income tax expense from continuing operations are as follows:


years ended December 31 (in millions)	2023			2022		2021
Federal income taxes:
Current	$	264.0		$	174.9	$	66.3
Deferred		(11.4	)		18.0		61.4
Total federal income taxes		252.6			192.9		127.7
State income taxes:
Current		42.7			35.1		18.7
Deferred		(3.0	)		5.3		6.5
Total state income taxes		39.7			40.4		25.2
Foreign income taxes:
Current		0.2			1.2		—
Deferred		—			0.3		0.3
Total foreign income taxes		0.2			1.5		0.3
Income tax expense	$	292.5		$	234.8	$	153.2

The Company generated foreign pretax earnings of $8.1 million, a loss of $2.3 million and earnings of $7.5 million for the years ended December 31, 2023, 2022 and 2021, respectively.

The Company’s effective income tax rate on continuing operations varied from the statutory United States income tax rate because of the following tax differences:


years ended December 31	2023			2022			2021
Statutory income tax rate		21.0	%		21.0	%		21.0	%
(Reduction) increase resulting from:
Effect of statutory depletion		(2.3	)		(2.4	)		(3.5	)
State income taxes, net of federal tax benefit		2.1			2.9			2.3
Federal tax credits		(1.0	)		(0.9	)		(1.4	)
Other items		(0.2	)		0.9			(0.5	)
Effective income tax rate		19.6	%		21.5	%		17.9	%

The higher 2022 effective tax rate versus 2023 and 2021 was primarily driven by the impact of the divestiture of the Colorado and Central Texas ready mixed concrete businesses.

The statutory depletion deduction for all years is calculated as a percentage of sales, subject to certain limitations. Due to these limitations, the impact of changes in the sales volumes and earnings may not proportionately affect the Company’s statutory depletion deduction and the corresponding impact on the effective income tax rate.

In 2023, 2022, and 2021, the Company financed third-party railroad track maintenance. In exchange, the Company received federal income tax credits and tax deductions.

The principal components of the Company’s deferred tax assets and liabilities are as follows:


December 31	Deferred Assets (Liabilities)
(in millions)	2023			2022
Deferred tax assets related to:
Inventories	$	121.0		$	85.5
Valuation and other reserves		34.2			30.9
Net operating loss carryforwards		2.8			3.6
Accumulated other comprehensive loss		53.8			50.1
Lease liabilities		141.9			139.6
Other items, net		3.6			1.9
Gross deferred tax assets		357.3			311.6
Valuation allowance on deferred tax assets		(2.5	)		(2.6	)
Total net deferred tax assets		354.8			309.0
Deferred tax liabilities related to:
Property, plant and equipment		(828.0	)		(843.8	)
Goodwill and other intangibles		(168.3	)		(143.9	)
Right-of-use assets		(142.3	)		(140.8	)
Partnerships and joint ventures		(34.0	)		(32.5	)
Employee benefits		(56.8	)		(62.3	)
Total deferred tax liabilities		(1,229.4	)		(1,223.3	)
Deferred income taxes, net	$	(874.6	)	$	(914.3	)

The Company had $1.2 million and $1.3 million of domestic federal net operating loss (NOL) carryforwards at December 31, 2023 and 2022, respectively. The Company had domestic state NOL carryforwards of $42.8 million and $55.3 million at December 31, 2023 and 2022, respectively. These carryforwards have various expiration dates through 2043. At December 31, 2023 and 2022, deferred tax assets associated with these carryforwards were $2.8 million and $3.6 million, respectively, net of the federal benefit of the state deduction, for which valuation allowances of $2.0 million and $2.1 million, respectively, were recorded. The Company also had domestic state tax credit carryforwards of $2.1 million and $1.3 million at December 31, 2023 and 2022, respectively, which have various expiration dates through 2043. At December 31, 2023 and 2022, deferred tax assets associated with these carryforwards were $1.7 million and $1.0 million, respectively, net of the federal benefit of the state deduction.

The Company expects to reinvest the earnings from its wholly-owned Canadian and Bahamian subsidiaries indefinitely, and accordingly, has not provided deferred taxes on the subsidiaries’ undistributed net earnings or basis differences. The Company believes that the tax liability that would be incurred upon repatriation of the foreign earnings was immaterial at December 31, 2023 and 2022.

The following table summarizes the Company’s unrecognized tax benefits, excluding interest and correlative effects of $0.1 million for the years ended December 31, 2023, 2022 and 2021:


years ended December 31 (in millions)	2023			2022			2021
Unrecognized tax benefits at beginning of year	$	3.6		$	5.4		$	8.2
Gross increases – tax positions in prior years		0.3			—			0.5
Gross decreases – tax positions in prior years		—			—			—
Gross increases – tax positions in current year		0.3			0.2			0.1
Gross decreases – tax positions in current year		—			—			—
Lapse of statute of limitations		(3.1	)		(2.0	)		(3.4	)
Unrecognized tax benefits at end of year	$	1.1		$	3.6		$	5.4

Amount that, if recognized, would favorably impact the effective tax rate	$	1.2		$	3.7		$	5.5

Unrecognized tax benefits are reversed as a discrete event if an examination of applicable tax returns is not initiated by a federal or state tax authority within the statute of limitations or upon effective settlement with federal or state tax authorities. Management believes its accrual for unrecognized tax benefits is sufficient to cover uncertain tax positions reviewed during audits by taxing authorities.

The Company anticipates that it is reasonably possible that its unrecognized tax benefits may decrease up to $0.3 million, excluding interest and correlative effects, during the twelve months ending December 31, 2024, due to the expiration of the statutes of limitations for the 2020 tax year and all prior open tax years.

The Company’s tax years subject to federal, state or foreign examinations are 2019 through 2023.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

Goodwill and Other Intangible Assets - Estimated Amortization Expense of Intangible Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 26.5
2025	26.4
2026	25.1
2027	24.5
2028	24.3
Thereafter	536.8
Net Balance	$ 663.6	$ 812.0

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt


December 31 (in millions)	2023			2022
0.650% Senior Notes, due 2023 (discharged)	$	—		$	699.1
4.250% Senior Notes, due 2024		399.6			398.9
7% Debentures, due 2025		124.8			124.7
3.450% Senior Notes, due 2027		298.7			298.3
3.500% Senior Notes, due 2027		492.2			491.5
2.500% Senior Notes, due 2030		471.5			470.5
2.400% Senior Notes, due 2031		889.4			888.6
6.25% Senior Notes, due 2037		228.4			228.4
4.250% Senior Notes, due 2047		590.4			590.2
3.200% Senior Notes, due 2051		850.2			849.8
Total debt		4,345.2			5,040.0
Less: current maturities		(399.6	)		(699.1	)
Long-term debt	$	3,945.6		$	4,340.9

Schedule of Principal Amount, Effective Interest Rate and Maturity Date for Corporation's Senior Notes


	Principal Amount (in millions)		Effective Interest Rate	Maturity Date
4.250% Senior Notes	$	400.0	4.40%	July 2, 2024
7% Debentures	$	125.0	7.05%	December 1, 2025
3.450% Senior Notes	$	300.0	3.55%	June 1, 2027
3.500% Senior Notes	$	494.6	3.61%	December 15, 2027
2.500% Senior Notes	$	478.0	2.71%	March 15, 2030
2.400% Senior Notes	$	895.9	2.48%	July 15, 2031
6.25% Senior Notes	$	230.0	6.32%	May 1, 2037
4.250% Senior Notes	$	597.9	4.32%	December 15, 2047
3.200% Senior Notes	$	865.9	3.29%	July 15, 2051

Schedule of Corporation's Long-Term Debt Maturities

The Company’s long-term debt maturities for each of the next five years and thereafter are as follows:


(in millions)
2024	$	399.6
2025		124.8
2026		—
2027		790.9
2028		—
Thereafter		3,029.9
Total	$	4,345.2

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Accounts Receivable, Net - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Affiliated Entity
Financing Receivable, Past Due [Line Items]
Other receivables net current	$ 4.4	$ 3.0

Long-Term Debt - Long-Term Debt (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jul. 17, 2023	Sep. 29, 2022
Debt Instrument [Line Items]
Interest rate on notes			0.65%	0.65%
0.650% Senior Notes, Due 2023
Debt Instrument [Line Items]
Maturity year	2023	2023
Interest rate on notes	0.65%	0.65%
4.250% Senior Notes, Due 2024
Debt Instrument [Line Items]
Maturity year	2024
Interest rate on notes	4.25%
7% Debentures, Due 2025
Debt Instrument [Line Items]
Maturity year	2025
Interest rate on notes	7.00%
3.450% Senior Notes, Due 2027
Debt Instrument [Line Items]
Maturity year	2027
Interest rate on notes	3.45%
3.500% Senior Notes, Due 2027
Debt Instrument [Line Items]
Maturity year	2027
Interest rate on notes	3.50%
2.500% Senior Notes, Due 2030
Debt Instrument [Line Items]
Maturity year	2030
Interest rate on notes	2.50%
2.400% Senior Notes, Due 2031
Debt Instrument [Line Items]
Maturity year	2031
Interest rate on notes	2.40%
6.25% Senior Notes, Due 2037
Debt Instrument [Line Items]
Maturity year	2037
Interest rate on notes	6.25%
4.250% Senior Notes, Due 2047
Debt Instrument [Line Items]
Maturity year	2047
Interest rate on notes	4.25%
3.200% Senior Notes, Due 2051
Debt Instrument [Line Items]
Maturity year	2051
Interest rate on notes	3.20%

Inventories, Net (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories Net


December 31 (in millions)	2023			2022
Finished products	$	1,151.8		$	932.4
Products in process		25.0			24.8
Raw materials		59.9			71.7
Supplies and expendable parts		154.6			153.1
Total inventories		1,391.3			1,182.0
Less: allowances		(402.7	)		(308.3	)
Inventories, net	$	988.6		$	873.7

Leases - Summary of Components of Lease Cost (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 76.5	$ 73.1	$ 72.9
Finance lease cost:
Amortization of right-of-use assets	21.2	18.3	14.3
Interest on lease liabilities	4.8	4.4	3.5
Variable lease cost	18.5	16.5	17.9
Short-term lease cost	46.2	45.2	32.3
Total lease cost	$ 167.2	$ 157.5	$ 140.9

Long-Term Debt - Schedule of Corporation's Long-Term Debt Maturities (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2024	$ 399.6
2025	124.8
2026	0.0
2027	790.9
2028	0.0
Thereafter	3,029.9
Total debt	$ 4,345.2	$ 5,040.0

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets related to:
Inventories	$ 121.0	$ 85.5
Valuation and other reserves	34.2	30.9
Net operating loss carryforwards	2.8	3.6
Accumulated other comprehensive loss	53.8	50.1
Lease liabilities	141.9	139.6
Other items, net	3.6	1.9
Gross deferred tax assets	357.3	311.6
Valuation allowance on deferred tax assets	(2.5)	(2.6)
Total net deferred tax assets	354.8	309.0
Deferred tax liabilities related to:
Property, plant and equipment	(828.0)	(843.8)
Goodwill and other intangibles	(168.3)	(143.9)
Right-of-use assets	(142.3)	(140.8)
Partnerships and joint ventures	(34.0)	(32.5)
Employee benefits	(56.8)	(62.3)
Total deferred tax liabilities	(1,229.4)	(1,223.3)
Deferred income taxes, net	$ (874.6)	$ (914.3)

Revenues and Gross Profit - Total Revenues and Gross Profit (Loss) by Product Line (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Product Information [Line Items]
Total Revenues	$ 6,777.2	$ 6,160.7	$ 5,414.0
Gross profit (loss)	2,022.6	1,423.3	1,348.4
Interproduct Revenues
Product Information [Line Items]
Total Revenues	(461.7)	(383.4)	(403.7)
Corporate
Product Information [Line Items]
Gross profit (loss)	2.8	(5.8)	2.0
Building Materials Business \| Operating Segments
Product Information [Line Items]
Total Revenues	6,461.8	5,856.7	5,115.3
Gross profit (loss)	1,922.7	1,338.2	1,239.9
Magnesia Specialties \| Operating Segments
Product Information [Line Items]
Total Revenues	315.4	304.0	298.7
Gross profit (loss)	97.1	90.9	106.5
Aggregates \| Building Materials Business \| Operating Segments \| Reportable Subsegments
Product Information [Line Items]
Total Revenues	4,301.6	3,879.0	3,344.3
Gross profit (loss)	1,378.1	983.8	907.6
Cement \| Building Materials Business \| Operating Segments \| Reportable Subsegments
Product Information [Line Items]
Total Revenues	725.5	620.0	509.3
Gross profit (loss)	333.6	202.7	155.9
Ready Mixed Concrete \| Building Materials Business \| Operating Segments \| Reportable Subsegments
Product Information [Line Items]
Total Revenues	1,009.3	953.2	1,147.5
Gross profit (loss)	102.0	70.7	96.5
Asphalt and Paving \| Building Materials Business \| Operating Segments \| Reportable Subsegments
Product Information [Line Items]
Total Revenues	887.1	787.9	517.9
Gross profit (loss)	$ 109.0	$ 81.0	$ 79.9

Goodwill and Other Intangible Assets - Changes in Goodwill (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Line Items]
Balance at beginning of period	$ 3,649.5	$ 3,494.4
Acquisitions		3.7
Goodwill reclassified from/(allocated to) assets held for sale	(260.0)	8.1
Divestitures		(159.7)
Goodwill Increased		303.0
Balance at end of period	3,389.5	3,649.5
East Group
Goodwill [Line Items]
Balance at beginning of period	764.4	759.4
Acquisitions		0.0
Goodwill reclassified from/(allocated to) assets held for sale	0.0	0.0
Divestitures		0.0
Goodwill Increased		5.0
Balance at end of period	764.4	764.4
West Group
Goodwill [Line Items]
Balance at beginning of period	2,885.1	2,735.0
Acquisitions		3.7
Goodwill reclassified from/(allocated to) assets held for sale	(260.0)	8.1
Divestitures		(159.7)
Goodwill Increased		298.0
Balance at end of period	$ 2,625.1	$ 2,885.1

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

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+ Details

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Goodwill

The following table shows the changes in goodwill by reportable segment and in total:


December 31	East Group		West Group			Total
(in millions)	2023
Balance at beginning of period	$	764.4	$	2,885.1		$	3,649.5
Goodwill allocated to assets held for sale		—		(260.0	)		(260.0	)
Balance at end of period	$	764.4	$	2,625.1		$	3,389.5

	2022
Balance at beginning of period	$	759.4	$	2,735.0		$	3,494.4
Acquisitions		—		3.7			3.7
Goodwill reclassified from assets held for sale		—		8.1			8.1
Divestitures		—		(159.7	)		(159.7	)
Measurement period adjustments		5.0		298.0			303.0
Balance at end of period	$	764.4	$	2,885.1		$	3,649.5

Intangible Assets Subject to Amortization

Intangible assets subject to amortization consist of the following:


December 31	Gross Amount		Accumulated Amortization			Net Balance
(in millions)	2023
Noncompetition agreements	$	4.1	$	(4.1	)	$	—
Customer relationships		421.0		(79.9	)		341.1
Operating permits		369.2		(55.8	)		313.4
Use rights and other		14.2		(12.5	)		1.7
Trade names		23.3		(15.9	)		7.4
Total	$	831.8	$	(168.2	)	$	663.6

	2022
Noncompetition agreements	$	4.1	$	(4.0	)	$	0.1
Customer relationships		423.7		(62.7	)		361.0
Operating permits		502.2		(61.4	)		440.8
Use rights and other		13.9		(12.4	)		1.5
Trade names		23.3		(14.7	)		8.6
Total	$	967.2	$	(155.2	)	$	812.0

Intangible Assets Deemed to Indefinite Life that are Therefore Not Amortized

Intangible assets deemed to have an indefinite life that are therefore not amortized consist of the following:


December 31	Building Materials Business		Magnesia Specialties		Total
(in millions)	2023
Operating permits	$	6.6	$	—	$	6.6
Use rights		25.0		—		25.0
Trade names		—		2.5		2.5
Total	$	31.6	$	2.5	$	34.1

	2022
Operating permits	$	6.6	$	—	$	6.6
Use rights		26.7		—		26.7
Trade names		—		2.5		2.5
Total	$	33.3	$	2.5	$	35.8

Estimated Amortization Expense of Intangible Assets

The estimated amortization expense for intangible assets for each of the next five years and thereafter is as follows:


(in millions)
2024	$	26.5
2025		26.4
2026		25.1
2027		24.5
2028		24.3
Thereafter		536.8
Total	$	663.6

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
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+ Details

Revenues and Gross Profit (Tables)

12 Months Ended

Dec. 31, 2023

Revenues And Gross Profit [Abstract]

Total Revenues and Gross Profit (Loss) by Product Line


years ended December 31 (in millions) Total revenues	2023			2022			2021
Building Materials business:
Aggregates	$	4,301.6		$	3,879.0		$	3,344.3
Cement		725.5			620.0			509.3
Ready mixed concrete		1,009.3			953.2			1,147.5
Asphalt and paving		887.1			787.9			517.9
Less: interproduct revenues		(461.7	)		(383.4	)		(403.7	)
Total Building Materials business		6,461.8			5,856.7			5,115.3
Magnesia Specialties		315.4			304.0			298.7
Consolidated total revenues	$	6,777.2		$	6,160.7		$	5,414.0

years ended December 31 (in millions) Gross profit (loss)	2023			2022			2021
Building Materials business:
Aggregates	$	1,378.1		$	983.8		$	907.6
Cement		333.6			202.7			155.9
Ready mixed concrete		102.0			70.7			96.5
Asphalt and paving		109.0			81.0			79.9
Total Building Materials business		1,922.7			1,338.2			1,239.9
Magnesia Specialties:		97.1			90.9			106.5
Corporate		2.8			(5.8	)		2.0
Consolidated gross profit	$	2,022.6		$	1,423.3		$	1,348.4

Domestic and Foreign Total Revenues

Domestic and foreign total revenues are as follows:


years ended December 31 (in millions)	2023		2022		2021
Domestic	$	6,707.2	$	6,077.6	$	5,338.5
Foreign		70.0		83.1		75.5
Consolidated total revenues	$	6,777.2	$	6,160.7	$	5,414.0

Summary of Information About the Company's Contract Balances

The following table presents information about the Company’s contract balances:


December 31
(in millions)	2023		2022
Costs in excess of billings	$	5.3	$	5.1
Billings in excess of costs	$	10.3	$	10.5