Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2018	Apr. 30, 2018
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1
Trading Symbol	VMC
Entity Registrant Name	Vulcan Materials CO
Entity Central Index Key	0001396009
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		132,185,410

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Assets
Cash and cash equivalents	$ 38,141	$ 141,646	$ 286,957
Restricted cash	8,373	5,000	0
Accounts and notes receivable
Accounts and notes receivable, gross	492,103	590,986	471,590
Less: Allowance for doubtful accounts	(2,667)	(2,649)	(2,757)
Accounts and notes receivable, net	489,436	588,337	468,833
Inventories
Finished products	340,666	327,711	306,012
Raw materials	29,393	27,152	26,213
Products in process	1,303	1,827	1,314
Operating supplies and other	28,392	27,648	29,860
Inventories	399,754	384,338	363,399
Prepaid expenses	75,495	60,780	38,573
Total current assets	1,011,199	1,180,101	1,157,762
Investments and long-term receivables	35,056	35,115	34,311
Property, plant & equipment
Property, plant & equipment, cost	8,116,439	7,969,312	7,432,388
Allowance for depreciation, depletion & amortization	(4,090,574)	(4,050,381)	(3,980,567)
Property, plant & equipment, net	4,025,865	3,918,931	3,451,821
Goodwill	3,130,161	3,122,321	3,101,241
Other intangible assets, net	1,060,831	1,063,630	829,114
Other noncurrent assets	190,099	184,793	170,075
Total assets	9,453,211	9,504,891	8,744,324
Liabilities
Current maturities of long-term debt	22	41,383	139
Short-term debt	200,000	0	0
Trade payables and accruals	188,163	197,335	175,906
Other current liabilities	195,122	204,154	184,853
Total current liabilities	583,307	442,872	360,898
Long-term debt	2,775,687	2,813,482	2,329,248
Deferred income taxes, net	479,430	464,081	703,491
Deferred revenue	190,731	191,476	196,739
Other noncurrent liabilities	510,846	624,087	633,187
Total liabilities	4,540,001	4,535,998	4,223,563
Other commitments and contingencies (Note 8)
Equity
Common stock, $1 par value, Authorized 480,000 shares, Outstanding 132,290, 132,324 and 132,222 shares, respectively	132,290	132,324	132,222
Capital in excess of par value	2,787,848	2,805,587	2,792,720
Retained earnings	2,138,885	2,180,448	1,734,448
Accumulated other comprehensive loss	(145,813)	(149,466)	(138,629)
Total equity	4,913,210	4,968,893	4,520,761
Total liabilities and equity	$ 9,453,211	$ 9,504,891	$ 8,744,324

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
CONDENSED CONSOLIDATED BALANCE SHEETS [Abstract]
Common stock, par value	$ 1	$ 1	$ 1
Common stock, shares authorized	480,000,000	480,000,000	480,000,000
Common stock, shares outstanding	132,290,000	132,324,000	132,222,000

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Total revenues	$ 854,474	$ 787,328
Cost of revenues	695,140	629,107
Gross profit	159,334	158,221
Selling, administrative and general expenses	78,340	82,383
Gain on sale of property, plant & equipment and businesses	4,164	369
Other operating expense, net	(3,975)	(5,828)
Operating earnings	81,183	70,379
Other nonoperating income, net	5,083	4,045
Interest expense, net	37,774	34,076
Earnings from continuing operations before income taxes	48,492	40,348
Income tax benefit	(4,903)	(3,175)
Earnings from continuing operations	53,395	43,523
Earnings (loss) on discontinued operations, net of tax	(416)	1,398
Net earnings	52,979	44,921
Other comprehensive income, net of tax
Deferred gain on interest rate derivative	2,496	0
Amortization of prior interest rate derivative loss	66	320
Amortization of actuarial loss and prior service cost for benefit plans	1,091	427
Other comprehensive income	3,653	747
Comprehensive income	$ 56,632	$ 45,668
Basic earnings per share
Continuing operations	$ 0.40	$ 0.33
Discontinued operations	0.00	0.01
Net earnings	0.40	0.34
Diluted earnings (loss) per share
Continuing operations	0.40	0.32
Discontinued operations	(0.01)	0.01
Net earnings	$ 0.39	$ 0.33
Weighted-average common shares outstanding
Basic	132,690	132,636
Assuming dilution	134,359	134,968
Cash dividends per share of common stock	$ 0.28	$ 0.25
Depreciation, depletion, accretion and amortization	$ 81,439	$ 71,563
Effective tax rate from continuing operations	(10.10%)	(7.90%)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating Activities
Net earnings	$ 52,979	$ 44,921
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation, depletion, accretion and amortization	81,439	71,563
Net gain on sale of property, plant & equipment and businesses	(4,164)	(369)
Contributions to pension plans	(102,443)	(2,374)
Share-based compensation expense	6,794	6,488
Deferred tax expense (benefit)	7,968	153
Cost of debt purchase	6,922	0
Changes in assets and liabilities before initial effects of business acquisitions and dispositions	39,832	(28,069)
Other, net	3,641	1,839
Net cash provided by operating activities	92,968	94,152
Investing Activities
Purchases of property, plant & equipment	(128,688)	(133,022)
Proceeds from sale of property, plant & equipment	1,701	1,239
Proceeds from sale of businesses	11,256	0
Payment for businesses acquired, net of acquired cash	(76,259)	(185,067)
Other, net	(34)	0
Net cash used for investing activities	(192,024)	(316,850)
Financing Activities
Proceeds from short-term debt	252,000	0
Payment of short-term debt	(52,000)	0
Payment of current maturities and long-term debt	(892,038)	(5)
Proceeds from issuance of long-term debt	850,000	350,000
Debt issuance and exchange costs	(45,513)	(4,565)
Settlements of interest rate derivatives	3,378	0
Purchases of common stock	(55,568)	(49,221)
Dividends paid	(37,176)	(33,152)
Share-based compensation, shares withheld for taxes	(24,159)	(21,421)
Net cash provided by (used for) financing activities	(1,076)	241,636
Net increase (decrease) in cash and cash equivalents and restricted cash	(100,132)	18,938
Cash and cash equivalents and restricted cash at beginning of year	146,646	268,019
Cash and cash equivalents and restricted cash at end of period	$ 46,514	$ 286,957

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2018

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Note 1: summary of significant accounting policies

NATURE OF OPERATIONS

Vulcan Materials Company (the “Company,” “Vulcan,” “we,” “our”), a New Jersey corporation, is the nation's largest supplier of construction aggregates (primarily crushed stone, sand and gravel) and a major producer of asphalt mix and ready-mixed concrete.

We operate primarily in the United States and our principal product — aggregates — is used in virtually all types of public and private construction projects and in the production of asphalt mix and ready-mixed concrete. We serve markets in twenty states, Washington D.C., and the local markets surrounding our operations in Mexico and the Bahamas. Our primary focus is serving metropolitan markets in the United States that are expected to experience the most significant growth in population, households and employment. These three demographic factors are significant drivers of demand for aggregates. While aggregates is our focus and primary business, we produce and sell asphalt mix and/or ready-mixed concrete in our Alabama, mid-Atlantic, Southwestern, Tennessee and Western markets.

BASIS OF PRESENTATION

Our accompanying unaudited condensed consolidated financial statements were prepared in compliance with the instructions to Form 10-Q and Article 10 of Regulation S-X and thus do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. Our Condensed Consolidated Balance Sheet as of December 31, 2017 was derived from the audited financial statement, but it does not include all disclosures required by accounting principles generally accepted in the United States of America. In the opinion of our management, the statements reflect all adjustments, including those of a normal recurring nature, necessary to present fairly the results of the reported interim periods. Operating results for the three month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. For further information, refer to the consolidated financial statements and footnotes included in our most recent Annual Report on Form 10-K.

Due to the 2005 sale of our Chemicals business as described in Note 2, the results of the Chemicals business are presented as discontinued operations in the accompanying Condensed Consolidated Statements of Comprehensive Income.

RECLASSIFICATIONS

Certain items previously reported in specific financial statement captions have been reclassified to conform to the 2018 presentation. In the first quarter of 2018, we adopted Accounting Standards Update (ASU) 2017-07, “Improving the Presentation of Net Periodic Benefit Cost and Net Periodic Postretirement Benefit Cost,” resulting in the reclassification of certain benefit costs from operating income to nonoperating income as described in Note 17.

RESTRICTED CASH

Restricted cash consists of cash proceeds from the sale of property held in escrow for the acquisition of replacement property under like-kind exchange agreements and cash reserved by other contractual agreements (such as asset purchase agreements) for a specified purpose and therefore is not available for use for other purposes. The escrow accounts are administered by an intermediary. Cash restricted pursuant to like-kind exchange agreements remains restricted for a maximum of 180 days from the date of the property sale pending the acquisition of replacement property. Restricted cash is included with cash and cash equivalents in the accompanying Condensed Consolidated Statements of Cash Flows.

EARNINGS PER SHARE (EPS)

Earnings per share are computed by dividing net earnings by the weighted-average common shares outstanding (basic EPS) or weighted-average common shares outstanding assuming dilution (diluted EPS), as set forth below:



	Three Months Ended
	March 31
in thousands	2018	2017
Weighted-average common shares
outstanding	132,690	132,636
Dilutive effect of
Stock-Only Stock Appreciation Rights	1,132	1,334
Other stock compensation plans	537	998
Weighted-average common shares
outstanding, assuming dilution	134,359	134,968

All dilutive common stock equivalents are reflected in our earnings per share calculations. In periods of loss, shares that otherwise would have been included in our diluted weighted-average common shares outstanding computation would be excluded.

Antidilutive common stock equivalents are not included in our earnings per share calculations. The number of antidilutive common stock equivalents for which the exercise price exceeds the weighted-average market price is as follows:



	Three Months Ended
	March 31
in thousands	2018	2017
Antidilutive common stock equivalents	157	79

DISCONTINUED OPERATIONS

3 Months Ended

Mar. 31, 2018

DISCONTINUED OPERATIONS [Abstract]

DISCONTINUED OPERATIONS

Note 2: Discontinued Operations

In 2005, we sold substantially all the assets of our Chemicals business to Basic Chemicals, a subsidiary of Occidental Chemical Corporation. The financial results of the Chemicals business are classified as discontinued operations in the accompanying Condensed Consolidated Statements of Comprehensive Income for all periods presented. There were no revenues from discontinued operations for the periods presented. Results from discontinued operations are as follows:



	Three Months Ended
	March 31
in thousands	2018	2017
Discontinued Operations
Pretax earnings (loss)	$ (566)	$ 2,092
Income tax (expense) benefit	150	(694)
Earnings (loss) on discontinued operations,
net of tax	$ (416)	$ 1,398

Our discontinued operations include charges related to general and product liability costs, including legal defense costs, and environmental remediation costs associated with our former Chemicals business. The results noted above primarily reflect charges and related insurance recoveries, including those associated with the Texas Brine matter as further discussed in Note 8.

INCOME TAXES

3 Months Ended

Mar. 31, 2018

INCOME TAXES [Abstract]

INCOME TAXES

Note 3: Income Taxes

The Tax Cuts and Jobs Act (TCJA) was enacted in December 2017. The TCJA, among other changes, (1) reduces the U.S. federal corporate income tax rate from 35% to 21%, (2) allows for the immediate 100% deductibility of certain capital investments, (3) eliminates the alternative minimum tax (though allows for the future use of previously generated alternative minimum tax credits), (4) repeals the domestic production deduction, (5) requires a one-time “transition tax” on earnings of certain foreign subsidiaries that were previously tax deferred, (6) limits the deductibility of interest expense, (7) further limits the deductibility of certain executive compensation and (8) taxes global intangible low taxed income.

The SEC staff issued Staff Accounting Bulletin (SAB) 118 to provide guidance for companies that have not completed their accounting for the income tax effects of the TCJA in the period of enactment. SAB 118 provides a one-year measurement period from the TCJA enactment date for companies to complete their income tax accounting. In accordance with SAB 118, a company must reflect the income tax effects of those elements of the TCJA for which the income tax accounting is complete. To the extent that a company’s accounting for certain elements of the TCJA is incomplete but for which it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company is unable to determine a provisional estimate, it should account for its income taxes on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the TCJA.

Our accounting for certain elements of the TCJA is incomplete. As we disclosed in our Annual Report on Form 10-K for the year ended December 31, 2017, we were able to make reasonable estimates, and therefore, recorded provisional estimates for the following elements. We have not made any measurement-period adjustments related to these items during the quarter.

§

DEEMED REPATRIATION TRANSITION TAX — The TCJA subjects companies to a one-time Deemed Repatriation Transition Tax (Transition Tax) on previously untaxed foreign accumulated earnings and profits. We recorded a provisional Transition Tax obligation of $12,301,000 at December 31, 2017.

§

DEDUCTIBILITY OF EXECUTIVE COMPENSATION — The TCJA eliminates the performance-based compensation exception from the limitation on covered employee remuneration. At this time, we believe that a portion of the performance-based remuneration accounted for in our deferred taxes will likely be non-deductible. As such, we included a provisional expense of $1,403,000 at December 31, 2017.

Our accounting for certain other elements of the TCJA is incomplete, and as we disclosed in our Annual Report on Form 10-K for the year ended December 31, 2017, we were not yet able to make reasonable estimates of the effects. Therefore, no provisional estimates were recorded. We have not recorded any measurement-period adjustments related to these items during the first quarter of 2018.

§

OUTSIDE BASIS DIFFERENCE IN FOREIGN SUBSIDIARIES — For U.S. income tax purposes, the Transition Tax will greatly reduce outside basis differences in our foreign subsidiaries. Completing this calculation is dependent on first finalizing the Transition Tax liability. As a result, we are not yet able to reasonably estimate the outside basis difference remaining in our foreign subsidiaries after the Transition Tax, and therefore, continue to assert that our undistributed earnings from foreign subsidiaries are indefinitely reinvested.

§

GLOBAL INTANGIBLE LOW TAXED INCOME — We can make an accounting policy election of either (1) treating taxes due on the future U.S. inclusions in taxable income related to global intangible low taxed income (GILTI) as a current period expense when incurred (period cost method) or (2) factoring such amounts into our measurement of deferred taxes (deferred method). Our selection of an accounting policy with respect to the new GILTI tax rules will depend, in part, on analyzing our global income to determine whether we expect to have future U.S. inclusions in taxable income related to GILTI and, if so, what the impact is expected to be. We have not recorded any amount of GILTI tax in our financial statements nor have we made a policy decision regarding whether to record deferred taxes on GILTI.

Our estimated annual effective tax rate (EAETR) is based on full-year expectations of pretax earnings, statutory tax rates, permanent differences between book and tax accounting such as percentage depletion, and tax planning alternatives available in the various jurisdictions in which we operate. For interim financial reporting, we calculate our quarterly income tax provision in accordance with the EAETR. Each quarter, we update our EAETR based on our revised full-year expectation of pretax earnings and calculate the income tax provision so that the year-to-date income tax provision reflects the EAETR. Significant judgment is required in determining our EAETR.

In the first quarter of 2018, we recorded an income tax benefit from continuing operations of $4,903,000 compared to an income tax benefit from continuing operations of $3,175,000 in the first quarter of 2017. The increase in income tax benefit is largely due to the change in the U.S. statutory income tax rate to 21% in 2018 from 35% in 2017.

We recognize deferred tax assets and liabilities (which reflect our best assessment of the future taxes we will pay) based on the differences between the book basis and tax basis of assets and liabilities. Deferred tax assets represent items to be used as a tax deduction or credit in future tax returns while deferred tax liabilities represent items that will result in additional tax in future tax returns.

Each quarter we analyze the likelihood that our deferred tax assets will be realized. A valuation allowance is recorded if, based on the weight of all available positive and negative evidence, it is more likely than not (a likelihood of more than 50%) that some portion, or all, of a deferred tax asset will not be realized.

At December 31, 2018, we project state net operating loss carryforward deferred tax assets of $71,159,000 ($67,546,000 relates to Alabama), against which we project to have a valuation allowance of $29,695,000 ($29,182,000 relates to Alabama). The Alabama net operating loss carryforward, if not utilized, would expire in years 2023 – 2033.

We recognize a tax benefit associated with a tax position when, in our judgment, it is more likely than not that the position will be sustained based upon the technical merits of the position. For a tax position that meets the more likely than not recognition threshold, we measure the income tax benefit as the largest amount that we judge to have a greater than 50% likelihood of being realized. A liability is established for the unrecognized portion of any tax benefit. Our liability for unrecognized tax benefits is adjusted periodically due to changing circumstances, such as the progress of tax audits, case law developments and new or emerging legislation.

A summary of our deferred tax assets is included in Note 9 “Income Taxes” in our Annual Report on Form 10-K for the year ended December 31, 2017.

REVENUES

3 Months Ended

Mar. 31, 2018

REVENUE [Abstract]

REVENUES

Note 4: revenueS

There have been no changes to the amount or timing of our revenue recognition as a result of our adoption of Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers” (Accounting Standards Codification Topic 606). Revenues are measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Sales and other taxes we collect are excluded from revenues. Costs to obtain and fulfill construction paving contracts are also immaterial and are expensed as incurred when the expected amortization period is one year or less.

Total revenues are primarily derived from our product sales of aggregates, asphalt mix and ready-mixed concrete, and include freight & delivery costs that we pass along to our customers to deliver these products. We also generate revenues from our asphalt construction paving business (represents less than 10% of our Asphalt segment’s revenues) and services related to our aggregates business (represents less than 2% of our Aggregates segment’s revenues).

Our products typically are sold to private industry and not directly to governmental entities. Although approximately 45% to 55% of our aggregates shipments have historically been used in publicly funded construction, such as highways, airports and government buildings, relatively insignificant sales are made directly to federal, state, county or municipal governments/agencies. Therefore, although reductions in state and federal funding can curtail publicly funded construction, our business is not directly subject to renegotiation of profits or termination of contracts with state or federal governments.

Our segment total revenues by geographic market for the current period are disaggregated as follows:



	Three Months Ended March 31, 2018
in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Total Revenues by Geographic Market 1
East	$ 193,848	$ 11,729	$ 61,571	$ 0	$ 267,148
Gulf Coast	383,941	14,644	25,199	1,942	425,726
West	121,868	77,462	14,192	0	213,522
Segment sales	$ 699,657	$ 103,835	$ 100,962	$ 1,942	$ 906,396
Intersegment sales	(51,922)	0	0	0	(51,922)
Total revenues	$ 647,735	$ 103,835	$ 100,962	$ 1,942	$ 854,474

1

The geographic markets are defined by states/countries as follows:

East market — Arkansas, Delaware, Illinois, Kentucky, Maryland, North Carolina, Pennsylvania, Tennessee, Virginia, and Washington D.C.

Gulf Coast market — Alabama, Florida, Georgia, Louisiana, Mexico, Mississippi, Oklahoma, South Carolina, Texas and the Bahamas

West market — Arizona, California and New Mexico

PRODUCT AND SERVICE REVENUES

Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; generally this occurs at a point in time when our aggregates, asphalt mix and ready-mixed concrete are shipped/delivered and control passes to the customer. Revenue for our products and services is recorded at the fixed invoice amount and is due by the 15th day of the following month — we do not offer discounts for early payment. Freight & delivery generally represents pass-through transportation we incur (including our administrative costs) and pay to third-party carriers to deliver our products to customers and are accounted for as a fulfillment activity. Likewise, the cost related to freight & delivery is included in cost of revenues.

CONSTRUCTION PAVING REVENUES

Revenue from our asphalt construction paving business is recognized over time using the percentage-of-completion method under the cost approach. The percentage of completion is determined by costs incurred to date as a percentage of total costs estimated for the project. Under this approach, recognized contract revenue equals the total estimated contract revenue multiplied by the percentage of completion. Our construction contracts are unit priced and an account receivable is recorded for amounts invoiced based on actual units produced. Variable consideration in our construction paving contracts is immaterial and consists of incentives and penalties based on the quality of work performed. Our construction paving contracts may contain warranty provisions covering defects in equipment, materials, design or workmanship that generally run from nine months to one year after project completion. Due to the nature of our construction paving projects, including contract owner inspections of the work during construction and prior to acceptance, we have not experienced material warranty costs for these short-term warranties.

VOLUMETRIC PRODUCTION PAYMENT REVENUES

In 2013 and 2012, we sold a percentage interest in certain future aggregates production for net cash proceeds of $226,926,000. These transactions, structured as volumetric production payments (VPPs):

§

relate to eight quarries in Georgia and South Carolina

§

provide the purchaser solely with a nonoperating percentage interest in the subject quarries’ future aggregates production

§

contain no minimum annual or cumulative guarantees by us for production or sales volume, nor minimum sales price

§

are both volume and time limited (we expect the transactions will last approximately 25 years, limited by volume rather than time)

We are the exclusive sales agent for, and transmit quarterly to the purchaser the proceeds from the sale of, the purchaser’s share of future aggregates production. Our consolidated total revenues exclude the revenue from the sale of the purchaser’s share of aggregates.

These proceeds we received from the sale of the percentage interest were recorded as deferred revenue on the balance sheet. We recognize revenue on a unit-of-sales basis (as we sell the purchaser’s share of future production) relative to the volume limitations of the transactions. Given the nature of the risks and potential rewards assumed by the buyer, the transactions do not reflect financing activities.

Reconciliation of the deferred revenue balances (current and noncurrent) is as follows:



	Three Months Ended
	March 31
in thousands	2018	2017
Deferred Revenue
Balance at beginning of period	$ 199,556	$ 206,468
Revenue recognized from deferred revenue	(1,355)	(1,649)
Balance at end of period	$ 198,201	$ 204,819

Based on expected sales from the specified quarries, we expect to recognize $7,470,000 of deferred revenue as income during the 12-month period ending March 31, 2019 (reflected in other current liabilities in our 2018 Condensed Consolidated Balance Sheet).

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2018

FAIR VALUE MEASUREMENTS [Abstract]

FAIR VALUE MEASUREMENTS

Note 5: Fair Value Measurements

Fair value is defined as 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. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels as described below:

Level 1: Quoted prices in active markets for identical assets or liabilities

Level 2: Inputs that are derived principally from or corroborated by observable market data

Level 3: Inputs that are unobservable and significant to the overall fair value measurement

Our assets subject to fair value measurement on a recurring basis are summarized below:



	Level 1 Fair Value
	March 31	December 31	March 31
in thousands	2018	2017	2017
Fair Value Recurring
Rabbi Trust
Mutual funds	$ 19,412	$ 20,348	$ 5,148
Equities	0	0	10,608
Total	$ 19,412	$ 20,348	$ 15,756



	Level 2 Fair Value
	March 31	December 31	March 31
in thousands	2018	2017	2017
Fair Value Recurring
Rabbi Trust
Money market mutual fund	$ 2,738	$ 1,203	$ 2,849
Total	$ 2,738	$ 1,203	$ 2,849

We have two Rabbi Trusts for the purpose of providing a level of security for the employee nonqualified retirement and deferred compensation plans and for the directors' nonqualified deferred compensation plans. The fair values of these investments are estimated using a market approach. The Level 1 investments include mutual funds and equity securities for which quoted prices in active markets are available. Level 2 investments are stated at estimated fair value based on the underlying investments in the fund (short-term, highly liquid assets in commercial paper, short-term bonds and certificates of deposit).

Net gains (losses) of the Rabbi Trust investments were $(776,000) and $239,000 for the three months ended March 31, 2018 and 2017, respectively. The portions of the net gains (losses) related to investments still held by the Rabbi Trusts at March 31, 2018 and 2017 were $(787,000) and $(197,000), respectively.

The carrying values of our cash equivalents, restricted cash, accounts and notes receivable, short-term debt, trade payables and accruals, and other current liabilities approximate their fair values because of the short-term nature of these instruments. Additional disclosures for derivative instruments and interest-bearing debt are presented in Notes 6 and 7, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

DERIVATIVE INSTRUMENTS

3 Months Ended

Mar. 31, 2018

DERIVATIVE INSTRUMENTS [Abstract]

DERIVATIVE INSTRUMENTS

Note 6: Derivative Instruments

During the normal course of operations, we are exposed to market risks including interest rates, foreign currency exchange rates and commodity prices. From time to time, and consistent with our risk management policies, we use derivative instruments to balance the cost and risk of such exposure. We do not use derivative instruments for trading or other speculative purposes.

The accounting for gains and losses that result from changes in the fair value of derivative instruments depends on whether the derivatives have been designated and qualify as hedging instruments and the type of hedging relationship. The interest rate agreements described below were designated as cash flow hedges. The changes in fair value of our cash flow hedges are recorded in accumulated other comprehensive income (AOCI) and are reclassified into interest expense in the same period the hedged items affect earnings.

We occasionally enter into interest rate locks of future debt issuances to hedge the risk of higher interest rates. The gain/loss upon settlement is deferred (recorded in AOCI) and amortized to interest expense over the term of the related debt.

This amortization was reflected in the accompanying Condensed Consolidated Statements of Comprehensive Income as follows:



		Three Months Ended
	Location on	March 31
in thousands	Statement	2018	2017
Interest Rate Hedges
Loss reclassified from AOCI	Interest
(effective portion)	expense	$ (89)	$ (528)

For the 12-month period ending March 31, 2019, we estimate that $291,000 of the pretax loss in AOCI will be reclassified to interest expense.

DEBT

3 Months Ended

Mar. 31, 2018

DEBT [Abstract]

DEBT

Note 7: Debt

Debt is detailed as follows:



	Effective	March 31	December 31	March 31
in thousands	Interest Rates	2018	2017	2017
Short-term Debt
Bank line of credit expires 2021 1, 2	1.25%	$ 200,000	$ 0	$ 0
Total short-term debt		$ 200,000	$ 0	$ 0
Long-term Debt
Bank line of credit expires 2021 1, 2		$ 0	$ 250,000	$ 235,000
Term loan due 2018 2, 3		0	350,000	0
7.00% notes due 2018		0	0	272,512
10.375% notes due 2018		0	0	250,000
Floating-rate notes due 2020	2.50%	250,000	250,000	0
Floating-rate notes due 2021	2.69%	500,000	0	0
7.50% notes due 2021		0	35,111	600,000
8.85% notes due 2021	8.88%	6,000	6,000	6,000
Term loan due 2021 2		0	250,000	0
4.50% notes due 2025	4.65%	400,000	400,000	400,000
3.90% notes due 2027	4.00%	400,000	400,000	350,000
7.15% notes due 2037	8.05%	129,239	240,188	240,188
4.50% notes due 2047	4.59%	700,000	700,000	0
4.70% notes due 2048	5.42%	460,949	0	0
Other notes 2	6.46%	224	230	364
Total long-term debt - face value		$ 2,846,412	$ 2,881,529	$ 2,354,064
Unamortized discounts and debt issuance costs		(70,703)	(26,664)	(24,677)
Total long-term debt - book value		$ 2,775,709	$ 2,854,865	$ 2,329,387
Less current maturities		22	41,383	139
Total long-term debt - reported value		$ 2,775,687	$ 2,813,482	$ 2,329,248
Estimated fair value of long-term debt		$ 2,843,943	$ 2,983,419	$ 2,605,379


1	Borrowings on the bank line of credit are classified as short-term debt if we intend to repay within twelve months and as long-term debt otherwise.
2	Non-publicly traded debt.
3	This short-term loan was refinanced on a long-term basis in February 2018 as discussed below. Thus, it was classified as long-term debt as of December 31, 2017.

Discounts and debt issuance costs are amortized using the effective interest method over the terms of the respective notes resulting in $1,473,000 of net interest expense for these items for the three months ended March 31, 2018.

LINE OF CREDIT

Our unsecured $750,000,000 line of credit matures December 2021 and contains affirmative, negative and financial covenants customary for an unsecured investment-grade facility. The primary negative covenant limits our ability to incur secured debt. The financial covenants are: (1) a maximum ratio of debt to EBITDA of 3.5:1 (upon certain acquisitions, the maximum ratio can be 3.75:1 for three quarters), and (2) a minimum ratio of EBITDA to net cash interest expense of 3.0:1. As of March 31, 2018, we were in compliance with the line of credit covenants.

Borrowings on our line of credit are classified as short-term debt if we intend to repay within twelve months and as long-term debt if we have the intent and ability to extend repayment beyond twelve months. Borrowings bear interest, at our option, at either LIBOR plus a credit margin ranging from 1.00% to 1.75%, or SunTrust Bank’s base rate (generally, its prime rate) plus a credit margin ranging from 0.00% to 0.75%. The credit margin for both LIBOR and base rate borrowings is determined by our credit ratings. Standby letters of credit, which are issued under the line of credit and reduce availability, are charged a fee equal to the credit margin for LIBOR borrowings plus 0.175%. We also pay a commitment fee on the daily average unused amount of the line of credit that ranges from 0.10% to 0.25% determined by our credit ratings. As of March 31, 2018, the credit margin for LIBOR borrowings was 1.25%, the credit margin for base rate borrowings was 0.25%, and the commitment fee for the unused amount was 0.15%.

As of March 31, 2018, our available borrowing capacity was $506,761,000. Utilization of the borrowing capacity was as follows:

§

$200,000,000 was borrowed

§

$43,239,000 was used to provide support for outstanding standby letters of credit

TERM DEBT

All of our term debt is unsecured. $2,846,188,000 of such debt is governed by three essentially identical indentures that contain customary investment-grade type covenants. The primary covenant in all three indentures limits the amount of secured debt we may incur without ratably securing such debt. As of March 31, 2018, we were in compliance with all term debt covenants.

In March 2018, we early retired via exchange offer $110,949,000 of the $240,188,000 7.15% notes due 2037 for: (1) a like amount of notes due 2048 (these notes are a further issuance of, and form a single series with, the $350,000,000 of notes due 2048 issued in February 2018 as described below) and (2) $38,164,000 of cash. The cash payment primarily reflects the trading price of the retired notes relative to par and will be amortized to interest expense over the term of the notes due 2048. We recognized transaction costs of $1,314,000 with this early retirement.

In February 2018, we issued $350,000,000 of 4.70% senior notes due 2048 (these notes now total $460,949,000 including the $110,949,000 issued in March as described above) and $500,000,000 of floating-rate senior notes due 2021. Total proceeds of $846,029,000 (net of discounts, transaction costs and an interest rate derivative settlement gain), together with cash on hand, were used to retire/repay without penalty or premium: (1) the $350,000,000 term loan due 2018, (2) the $250,000,000 term loan due 2021, and (3) the $250,000,000 bank line of credit borrowings. We recognized net noncash expense of $203,000 with the acceleration of unamortized deferred transaction costs.

In January 2018, we early retired via redemption the remaining $35,111,000 of the 7.50% senior notes due 2021 at a cost of $40,719,000 including a premium of $5,608,000 which was a component of interest expense for the three months ended March 31, 2018. Additionally, we recognized net noncash expense of $263,000 with the acceleration of unamortized deferred transaction costs.

As a result of the first quarter 2018 early debt retirements described above, we recognized premiums of $5,608,000, transaction costs of $1,314,000 and noncash expense (acceleration of unamortized deferred transaction costs) of $466,000. The combined charge of $7,388,000 was a component of interest expense for the three months ended March 31, 2018.

In December 2017, we early retired via tender offer, $564,889,000 of the $600,000,000 7.50% senior notes due 2021 at a cost of $662,613,000 including a premium of $96,167,000 and transaction costs of $1,558,000. Additionally, we recognized net noncash expense of $4,228,000 with the acceleration of unamortized deferred transaction costs.

Also in December 2017, we entered into a 6-month $350,000,000 unsecured term loan with one of the banks that provides our line of credit. Proceeds were used for general corporate purposes. This term loan was prepaid, as described above, in February 2018 with the proceeds of the 4.70% senior notes due 2048.

In July 2017, we early retired via redemption: (1) the $272,512,000 7.00% senior notes due 2018 and (2) the $250,000,000 10.375% senior notes due 2018 — at a combined cost of $565,560,000 including a premium of $43,020,000 and transaction costs of $28,000. Additionally, we recognized net noncash expense of $3,029,000 with the acceleration of unamortized deferred discounts, transaction costs and interest rate derivative settlement losses. Such redemptions were partially funded with the proceeds of the senior notes issued in June 2017 as described below.

In June 2017, we issued $1,000,000,000 of debt composed of three issuances as follows: (1) $700,000,000 of 4.50% senior notes due 2047, (2) $50,000,000 of 3.90% senior notes due 2027 (these notes are a further issuance of, and form a single series with, the 3.90% notes issued in March 2017), and (3) $250,000,000 of floating-rate senior notes due 2020. Total proceeds of $989,512,000 (net of discounts/premiums and transaction costs) were used to partially finance an acquisition and to early retire the notes due in 2018 as described above.

In June 2017, we drew the full $250,000,000 on the unsecured delayed draw term loan entered into in December 2016. These funds were used to repay the $235,000,000 line of credit borrowings and for general corporate purposes. This term loan was prepaid, as described above, in February 2018 with proceeds of the floating-rate senior notes due 2021.

In March 2017, we issued $350,000,000 of 3.90% senior notes due 2027. Proceeds of $345,450,000 (net of discounts and transaction costs) were used for general corporate purposes. This series of notes now totals $400,000,000 including the additional $50,000,000 issued in June as described above.

As a result of the 2017 early debt retirements described above, we recognized premiums of $139,187,000, transaction costs of $1,586,000 and net noncash expense (acceleration of unamortized deferred transaction costs) of $7,257,000. The combined charge of $148,030,000 was a component of interest expense for the year ended December 31, 2017 with none recognized in the three months ended March 31, 2017.

STANDBY LETTERS OF CREDIT

We provide, in the normal course of business, certain third-party beneficiaries with standby letters of credit to support our obligations to pay or perform according to the requirements of an underlying agreement. Such letters of credit typically have an initial term of one year, typically renew automatically, and can only be modified or cancelled with the approval of the beneficiary. All of our standby letters of credit are issued by banks that participate in our $750,000,000 line of credit, and reduce the borrowing capacity thereunder. Our standby letters of credit as of March 31, 2018 are summarized by purpose in the table below:



in thousands
Standby Letters of Credit
Risk management insurance	$ 38,111
Reclamation/restoration requirements	5,128
Total	$ 43,239

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2018

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

Note 8: Commitments and Contingencies

As summarized by purpose directly above in Note 7, our standby letters of credit totaled $43,239,000 as of March 31, 2018.

As described in Note 9, our asset retirement obligations totaled $214,709,000 as of March 31, 2018.

LITIGATION AND ENVIRONMENTAL MATTERS

We are subject to occasional governmental proceedings and orders pertaining to occupational safety and health or to protection of the environment, such as proceedings or orders relating to noise abatement, air emissions or water discharges. As part of our continuing program of stewardship in safety, health and environmental matters, we have been able to resolve such proceedings and to comply with such orders without any material adverse effects on our business.

We have received notices from the United States Environmental Protection Agency (EPA) or similar state or local agencies that we are considered a potentially responsible party (PRP) at a limited number of sites under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA or Superfund) or similar state and local environmental laws. Generally, we share the cost of remediation at these sites with other PRPs or alleged PRPs in accordance with negotiated or prescribed allocations. There is inherent uncertainty in determining the potential cost of remediating a given site and in determining any individual party's share in that cost. As a result, estimates can change substantially as additional information becomes available regarding the nature or extent of site contamination, remediation methods, other PRPs and their probable level of involvement, and actions by or against governmental agencies or private parties.

We have reviewed the nature and extent of our involvement at each Superfund site, as well as potential obligations arising under other federal, state and local environmental laws. While ultimate resolution and financial liability is uncertain at a number of the sites, in our opinion based on information currently available, the ultimate resolution of claims and assessments related to these sites will not have a material effect on our consolidated results of operations, financial position or cash flows, although amounts recorded in a given period could be material to our results of operations or cash flows for that period.

We are a defendant in various lawsuits in the ordinary course of business. It is not possible to determine with precision the outcome, or the amount of liability, if any, under these lawsuits, especially where the cases involve possible jury trials with as yet undetermined jury panels.

In addition to these lawsuits in which we are involved in the ordinary course of business, certain other material legal proceedings are more specifically described below:

§

Lower Passaic River Study Area (Superfund Site) — The Lower Passaic River Study Area is part of the Diamond Shamrock Superfund Site in New Jersey. Vulcan and approximately 70 other companies are parties (collectively the Cooperating Parties Group) to a May 2007 Administrative Order on Consent (AOC) with the EPA to perform a Remedial Investigation/Feasibility Study (draft RI/FS) of the lower 17 miles of the Passaic River (River). However, before the draft RI/FS was issued in final form, the EPA issued a record of decision (ROD) in March 2016 that calls for a bank-to-bank dredging remedy for the lower 8 miles of the River. The EPA estimates that the cost of implementing this proposal is $1.38 billion. In September 2016, the EPA entered into an Administrative Settlement Agreement and Order on Consent with Occidental Chemical Corporation (Occidental) in which Occidental agreed to undertake the remedial design for this bank-to-bank dredging remedy, and to reimburse the United States for certain response costs.

In August 2017, the EPA informed certain members of the Cooperating Parties Group, including Vulcan that it planned to use the services of a third-party allocator with the expectation of offering cash-out settlements to some parties in connection with the bank-to-bank remedy. This voluntary allocation process is intended to establish an impartial third-party expert recommendation that may be considered by the government and the participants as the basis of possible settlements. We have begun participating in this voluntary allocation process, which is likely to take several years.

Efforts to remediate the River have been underway for many years and have involved hundreds of entities that have had operations on or near the River at some point during the past several decades. We formerly owned a chemicals operation near the mouth of the River, which was sold in 1974. The major risk drivers in the River have been identified as dioxins, PCBs, DDx and mercury. We did not manufacture any of these risk drivers and have no evidence that any of these were discharged into the River by Vulcan.

The AOC does not obligate us to fund or perform the remedial action contemplated by either the draft RI/FS or the ROD. Furthermore, the parties who will participate in funding the remediation and their respective allocations have not been determined. We do not agree that a bank-to-bank remedy is warranted, and we are not obligated to fund any of the remedial action at this time; nevertheless, we previously estimated the cost to be incurred by us as a potential participant in a bank-to-bank dredging remedy and recorded an immaterial loss for this matter in 2015.

§

TEXAS BRINE MATTER — During the operation of its former Chemicals Division, Vulcan leased the right to mine salt out of an underground salt dome formation in Assumption Parish, Louisiana from 1976 - 2005. Throughout that period and for all times thereafter, the Texas Brine Company (Texas Brine) was the operator contracted by Vulcan (and later Occidental) to mine and deliver the salt. We sold our Chemicals Division in 2005 and transferred our rights and interests related to the salt and mining operations to the purchaser, a subsidiary of Occidental, and we have had no association with the leased premises or Texas Brine since that time. In August 2012, a sinkhole developed in the vicinity of the Texas Brine mining operations, and numerous lawsuits were filed in state court in Assumption Parish, Louisiana. Other lawsuits, including class action litigation, were also filed in federal court before the Eastern District of Louisiana in New Orleans.

There are numerous defendants, including Texas Brine and Occidental, to the litigation in state and federal court. Vulcan was first brought into the litigation as a third-party defendant in August 2013 by Texas Brine. We have since been added as a direct and third-party defendant by other parties, including a direct claim by the state of Louisiana. Damage categories encompassed within the litigation include individual plaintiffs’ claims for property damage, a claim by the state of Louisiana for response costs and civil penalties, claims by Texas Brine for response costs and lost profits, claims for physical damages to nearby oil and gas pipelines and storage facilities (pipelines), and business interruption claims.

In addition to the plaintiffs’ claims, we were also sued for contractual indemnity and comparative fault by both Texas Brine and Occidental. It is alleged that the sinkhole was caused, in whole or in part, by our negligent actions or failure to act. It is also alleged that we breached the salt lease with Occidental, as well as an operating agreement and related contracts with Texas Brine; that we are strictly liable for certain property damages in our capacity as a former lessee of the salt lease; and that we violated certain covenants and conditions in the agreement under which we sold our Chemicals Division to Occidental. We have likewise made claims for contractual indemnity and on a basis of comparative fault against Texas Brine and Occidental.

Vulcan and Occidental have since dismissed all of their claims against one another. Texas Brine has claims that remain pending against Vulcan and against Occidental. Discovery remains ongoing in various cases.

In 2016, we settled with plaintiffs in one of the cases involving individual property damages. In 2017, we settled with the plaintiffs in the cases involving physical damages to pipelines. Our insurers have funded the settlements in excess of our self-insured retention amount. Each of the pipeline plaintiffs signed a release in favor of Vulcan and agreed that we would not be responsible to the pipelines for any amount beyond the settlement amount.

A bench trial (judge only) began in September 2017 and ended in October in the pipeline cases. The trial was limited in scope to the allocation of comparative fault or liability for causing the sinkhole, with a damages phase of the trial to be held at a later date. Vulcan participated in the trial, as the liability finding could impact cross-party and third-party claims against us. In December 2017, the judge issued a ruling on the allocation of fault among the three defendants as follows: Occidental 50%, Texas Brine 35% and Vulcan 15%. It is likely that one or more parties will appeal the judge’s ruling.

Also in December 2017, we agreed to a settlement in a federal putative class action. It will take time to finalize this settlement due to required court proceedings relating to class action notice and approval. Our insurers participated in the settlement discussions and have agreed to fund the settlement. We have settled (for immaterial amounts) or are attempting to settle several other cases, all with the approval of our insurers.

We cannot reasonably estimate a range of liability pertaining to the open cases at this time.

§

HEWITT LANDFILL MATTER (SUPERFUND SITE) — In September 2015, the Los Angeles Regional Water Quality Control Board (RWQCB) issued a Cleanup and Abatement Order (CAO) directing Vulcan to assess, monitor, cleanup and abate wastes that have been discharged to soil, soil vapor, and/or groundwater at the former Hewitt Landfill in Los Angeles. The CAO follows a 2014 Investigative Order from the RWQCB that sought data and a technical evaluation regarding the Hewitt Landfill, and a subsequent amendment to the Investigative Order requiring us to provide groundwater monitoring results to the RWQCB and to create and implement a work plan for further investigation of the Hewitt Landfill. In April 2016, we submitted an interim remedial action plan (IRAP) to the RWQCB, proposing an on-site pilot test of a pump and treat system; testing and implementation of a leachate recovery system; and storm water capture and conveyance improvements.

Operation of the on-site pilot-scale treatment system began in January 2017, and was completed in April 2017. With completion of the pilot testing and other investigative work to date, we submitted an amendment to the IRAP (AIRAP) to RWQCB in August 2017 proposing the use of a pump, treat and reinjection system. In December 2017, we submitted an addendum to the AIRAP, incorporating new data acquired since the prior submission. In February 2018, the AIRAP was approved by RWQCB. As a result of this approval, we will begin to implement the on-site source control activities described in the AIRAP. Based on the preliminary design of this system, we accrued $15,239,000 in 2017 (of which $1,326,000 was recorded to other operating expense in the first quarter of 2017).

We are also engaged in an ongoing dialogue with the EPA, the Los Angeles Department of Water and Power, and other stakeholders regarding the potential contribution of the Hewitt Landfill to groundwater contamination in the North Hollywood Operable Unit (NHOU) of the San Fernando Valley Superfund Site. We are gathering and analyzing data and developing technical information to determine the extent of possible contribution by the Hewitt Landfill to the groundwater contamination in the area. This work is also intended to assist in identification of other PRPs that may have contributed to groundwater contamination in the area.

The EPA and Vulcan entered into an AOC and Statement of Work having an effective date of September 2017, for the design of two extraction wells south of the Hewitt Site to protect the North Hollywood West well field. In November 2017, we submitted a Pre-Design Investigation Work Plan to the EPA, which sets forth the activities and schedule for our evaluation of the need for a two-well remedy. Estimated costs to comply with this AOC are immaterial and have been accrued. Until the remedial design work and evaluation of the two-well remedy is complete, we cannot identify an appropriate remedial action or reasonably estimate a loss pertaining to this matter.

It is not possible to predict with certainty the ultimate outcome of these and other legal proceedings in which we are involved and a number of factors, including developments in ongoing discovery or adverse rulings, or the verdict of a particular jury, could cause actual losses to differ materially from accrued costs. No liability was recorded for claims and litigation for which a loss was determined to be only reasonably possible or for which a loss could not be reasonably estimated. Legal costs incurred in defense of lawsuits are expensed as incurred. In addition, losses on certain claims and litigation described above may be subject to limitations on a per occurrence basis by excess insurance, as described in our most recent Annual Report on Form 10-K.

ASSET RETIREMENT OBLIGATIONS

3 Months Ended

Mar. 31, 2018

ASSET RETIREMENT OBLIGATIONS [Abstract]

ASSET RETIREMENT OBLIGATIONS

Note 9: Asset Retirement Obligations

Asset retirement obligations (AROs) are legal obligations associated with the retirement of long-lived assets resulting from the acquisition, construction, development and/or normal use of the underlying assets. Recognition of a liability for an ARO is required in the period in which it is incurred at its estimated fair value. The associated asset retirement costs are capitalized as part of the carrying amount of the underlying asset and depreciated over the estimated useful life of the asset. The liability is accreted through charges to operating expenses. If the ARO is settled for other than the carrying amount of the liability, we recognize a gain or loss on settlement.

We record all AROs for which we have legal obligations for land reclamation at estimated fair value. Essentially all these AROs relate to our underlying land, including both owned properties and mineral leases. For the three month period ended March 31, we recognized ARO operating costs related to accretion of the liabilities and depreciation of the assets as follows:



	Three Months Ended
	March 31
in thousands	2018	2017
ARO Operating Costs
Accretion	$ 2,684	$ 2,882
Depreciation	1,337	1,632
Total	$ 4,021	$ 4,514

ARO operating costs are reported in cost of revenues. AROs are reported within other noncurrent liabilities in our accompanying Condensed Consolidated Balance Sheets.

Reconciliations of the carrying amounts of our AROs are as follows:



	Three Months Ended
	March 31
in thousands	2018	2017
Asset Retirement Obligations
Balance at beginning of year	$ 218,117	$ 223,872
Liabilities incurred	0	0
Liabilities settled	(6,021)	(4,865)
Accretion expense	2,684	2,882
Revisions, net	(71)	4,123
Balance at end of period	$ 214,709	$ 226,012

ARO liabilities settled during the first three months of 2018 and 2017 include $4,402,000 and $1,899,000, respectively, of reclamation activities required under a development agreement and conditional use permits at two adjacent aggregates sites on owned property in Southern California. The reclamation required under the reclamation agreement will result in the restoration and development of 90 acres of previously mined property suitable for retail and commercial development.

BENEFIT PLANS

3 Months Ended

Mar. 31, 2018

BENEFIT PLANS [Abstract]

BENEFIT PLANS

Note 10: Benefit Plans

We sponsor three qualified, noncontributory defined benefit pension plans. These plans cover substantially all employees hired before July 2007, other than those covered by union-administered plans. Normal retirement age is 65, but the plans contain provisions for earlier retirement. Benefits for the Salaried Plan and the Chemicals Hourly Plan are generally based on salaries or wages and years of service; the Construction Materials Hourly Plan provides benefits equal to a flat dollar amount for each year of service. In addition to these qualified plans, we sponsor three unfunded, nonqualified pension plans.

Effective July 2007, we amended our defined benefit pension plans to no longer accept new participants. Effective December 2013, we amended our defined benefit pension plans to freeze future benefit accruals for salaried pension participants. Effective December 31, 2015, we amended our defined benefit pension plans to freeze earnings for salaried pension participants.

The following table sets forth the components of net periodic pension benefit cost:



PENSION BENEFITS	Three Months Ended
	March 31
in thousands	2018	2017
Components of Net Periodic Benefit Cost
Service cost	$ 1,429	$ 1,654
Interest cost	8,876	9,057
Expected return on plan assets	(14,797)	(12,096)
Amortization of prior service cost	335	335
Amortization of actuarial loss	2,457	1,824
Net periodic pension benefit cost (credit)	$ (1,700)	$ 774
Pretax reclassifications from AOCI included in
net periodic pension benefit cost	$ 2,792	$ 2,159

The contributions to pension plans for the three months ended March 31, 2018 and 2017, as reflected on the Condensed Consolidated Statements of Cash Flows, pertain to benefit payments under nonqualified plans and a first quarter 2018 discretionary qualified plan contribution of $100,000,000.

In addition to pension benefits, we provide certain healthcare and life insurance benefits for some retired employees. In 2012, we amended our postretirement healthcare plan to cap our portion of the medical coverage cost at the 2015 level. Substantially all our salaried employees and, where applicable, certain of our hourly employees may become eligible for these benefits if they reach a qualifying age and meet certain service requirements. Generally, Company-provided healthcare benefits end when covered individuals become eligible for Medicare benefits, become eligible for other group insurance coverage or reach age 65, whichever occurs first.

The following table sets forth the components of net periodic other postretirement benefit cost:



OTHER POSTRETIREMENT BENEFITS	Three Months Ended
	March 31
in thousands	2018	2017
Components of Net Periodic Benefit Cost
Service cost	$ 339	$ 292
Interest cost	310	315
Amortization of prior service credit	(991)	(1,059)
Amortization of actuarial gain	(324)	(397)
Net periodic postretirement benefit credit	$ (666)	$ (849)
Pretax reclassifications from AOCI included in
net periodic postretirement benefit credit	$ (1,315)	$ (1,456)

We present the service cost component of net periodic benefit cost in cost of revenues and selling, administrative and general expense consistent with employee compensation costs. The other components of net periodic benefit cost (credit) are reported within other nonoperating income in our accompanying Condensed Consolidated Statements of Comprehensive Income.

OTHER COMPREHENSIVE INCOME

3 Months Ended

Mar. 31, 2018

OTHER COMPREHENSIVE INCOME [Abstract]

OTHER COMPREHENSIVE INCOME

Note 11: other Comprehensive Income

Comprehensive income comprises two subsets: net earnings and other comprehensive income (OCI). The components of other comprehensive income are presented in the accompanying Condensed Consolidated Statements of Comprehensive Income, net of applicable taxes.

Amounts in accumulated other comprehensive income (AOCI), net of tax, are as follows:



	March 31	December 31	March 31
in thousands	2018	2017	2017
AOCI
Interest rate hedges	$ (8,876)	$ (11,438)	$ (12,980)
Pension and postretirement plans	(136,937)	(138,028)	(125,649)
Total	$ (145,813)	$ (149,466)	$ (138,629)

Changes in AOCI, net of tax, for the three months ended March 31, 2018 are as follows:



		Pension and
	Interest Rate	Postretirement
in thousands	Hedges	Benefit Plans	Total
AOCI
Balance as of December 31, 2017	$ (11,438)	$ (138,028)	$ (149,466)
Other comprehensive income (loss)
before reclassifications	2,496	0	2,496
Amounts reclassified from AOCI	66	1,091	1,157
Net current period OCI changes	2,562	1,091	3,653
Balance as of March 31, 2018	$ (8,876)	$ (136,937)	$ (145,813)

Amounts reclassified from AOCI to earnings, are as follows:



	Three Months Ended
	March 31
in thousands	2018	2017
Amortization of Interest Rate Hedge Losses
Interest expense	$ 89	$ 528
Benefit from income taxes	(23)	(208)
Total	$ 66	$ 320
Amortization of Pension and Postretirement
Plan Actuarial Loss and Prior Service Cost
Other nonoperating income	$ 1,476	$ 703
Benefit from income taxes	(385)	(276)
Total	$ 1,091	$ 427
Total reclassifications from AOCI to earnings	$ 1,157	$ 747

EQUITY

3 Months Ended

Mar. 31, 2018

EQUITY [Abstract]

EQUITY

Note 12: Equity

Our capital stock consists solely of common stock, par value $1.00 per share. Holders of our common stock are entitled to one vote per share. Our Certificate of Incorporation also authorizes 5,000,000 shares of preferred stock of which no shares have been issued.

There were no shares held in treasury as of March 31, 2018, December 31, 2017 and March 31, 2017.

Our common stock purchases (all of which were open market purchases) and subsequent retirements are summarized below:



	March 31	December 31	March 31
in thousands, except average price	2018	2017	2017
Shares Purchased and Retired
Number 1	492	510	417
Total purchase price 1	$ 57,824	$ 60,303	$ 49,221
Average price per share	$ 117.47	$ 118.18	$ 118.07


1	Settlement of 20 thousand shares at a total price of $2,250 thousand occurred after March 31, 2018.

As of March 31, 2018, 8,997,483 shares may be purchased under the current purchase authorization of our Board of Directors.

Changes in total equity are summarized below:



	Three Months Ended
	March 31
in thousands	2018	2017
Total Equity
Balance at beginning of year	$ 4,968,893	$ 4,572,476
Net earnings	52,979	44,921
Share-based compensation plans, net of shares withheld for taxes	(24,109)	(21,498)
Purchase and retirement of common stock	(57,824)	(49,221)
Share-based compensation expense	6,794	6,488
Cash dividends on common stock ($0.28/$0.25 per share)	(37,176)	(33,152)
Other comprehensive income	3,653	747
Balance at end of period	$ 4,913,210	$ 4,520,761

SEGMENT REPORTING

3 Months Ended

Mar. 31, 2018

SEGMENT REPORTING [Abstract]

SEGMENT REPORTING

Note 13: Segment Reporting

We have four operating (and reportable) segments organized around our principal product lines: Aggregates, Asphalt, Concrete and Calcium. The vast majority of our activities are domestic. We sell a relatively small amount of construction aggregates outside the United States. Our Asphalt and Concrete segments are primarily supplied with their aggregates requirements from our Aggregates segment. These intersegment sales are made at local market prices for the particular grade and quality of product used in the production of asphalt mix and ready-mixed concrete. Management reviews earnings from the product line reporting segments principally at the gross profit level.

segment financial disclosure



	Three Months Ended
	March 31
in thousands	2018	2017
Total Revenues
Aggregates 1	$ 699,657	$ 650,300
Asphalt	103,835	95,776
Concrete	100,962	88,750
Calcium	1,942	1,886
Segment sales	$ 906,396	$ 836,712
Aggregates intersegment sales	(51,922)	(49,384)
Total revenues	$ 854,474	$ 787,328
Gross Profit
Aggregates 2	$ 148,221	$ 138,791
Asphalt 2	246	8,482
Concrete 2	10,320	10,225
Calcium	547	723
Total	$ 159,334	$ 158,221
Depreciation, Depletion, Accretion
and Amortization (DDA&A)
Aggregates	$ 65,953	$ 57,656
Asphalt	7,002	5,731
Concrete	3,414	3,023
Calcium	69	195
Other	5,001	4,958
Total	$ 81,439	$ 71,563
Identifiable Assets 3
Aggregates	$ 8,545,904	$ 7,810,486
Asphalt	447,961	258,982
Concrete	267,678	235,592
Calcium	4,156	4,552
Total identifiable assets	$ 9,265,699	$ 8,309,612
General corporate assets	140,998	147,755
Cash and cash equivalents and restricted cash	46,514	286,957
Total	$ 9,453,211	$ 8,744,324


1	Includes product sales, as well as freight & delivery costs that we pass along to our customers, and service revenues related to aggregates.
2	The 2017 amounts have been revised as a result of our adoption of ASU 2017-07 as described in Note 17.
3	Certain temporarily idled assets are included within a segment's Identifiable Assets but the associated DDA&A is shown within Other in the DDA&A section above as the related DDA&A is excluded from segment gross profit.

SUPPLEMENTAL CASH FLOW INFORMATION

3 Months Ended

Mar. 31, 2018

SUPPLEMENTAL CASH FLOW INFORMATION [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

Note 14: Supplemental Cash Flow Information

Supplemental information referable to our Condensed Consolidated Statements of Cash Flows is summarized below:



	Three Months Ended
	March 31
in thousands	2018	2017
Cash Payments (Refunds)
Interest (exclusive of amount capitalized)	$ 15,829	$ 2,498
Income taxes	(105,699)	1,562
Noncash Investing and Financing Activities
Accrued liabilities for purchases of property, plant & equipment	$ 24,714	$ 32,492
Accrued liabilities for common stock purchases	2,255	0
Amounts referable to business acquisitions
Liabilities assumed	2,796	0

GOODWILL

3 Months Ended

Mar. 31, 2018

GOODWILL [Abstract]

GOODWILL

Note 15: Goodwill

Goodwill is recognized when the consideration paid for a business exceeds the fair value of the tangible and identifiable intangible assets acquired. Goodwill is allocated to reporting units for purposes of testing goodwill for impairment. There were no charges for goodwill impairment in the three month periods ended March 31, 2018 and 2017. Accumulated goodwill impairment losses amount to $252,664,000 in the Calcium segment.

We have four reportable segments organized around our principal product lines: Aggregates, Asphalt, Concrete and Calcium. Changes in the carrying amount of goodwill by reportable segment from December 31, 2017 to March 31, 2018 are summarized below:



in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Goodwill
Total as of December 31, 2017	$ 3,030,688	$ 91,633	$ 0	$ 0	$ 3,122,321
Goodwill of acquired businesses 1	7,840	0	0	0	7,840
Total as of March 31, 2018	$ 3,038,528	$ 91,633	$ 0	$ 0	$ 3,130,161


1	See Note 16 for a summary of acquisitions.

We test goodwill for impairment on an annual basis or more frequently if events or circumstances change in a manner that would more likely than not reduce the fair value of a reporting unit below its carrying value. A decrease in the estimated fair value of one or more of our reporting units could result in the recognition of a material, noncash write-down of goodwill.

ACQUISITIONS AND DIVESTITURES

3 Months Ended

Mar. 31, 2018

ACQUISITIONS AND DIVESTITURES [Abstract]

ACQUISITIONS AND DIVESTITURES

Note 16: Acquisitions and Divestitures

BUSINESS ACQUISITIONS AND PENDING ACQUISITIONS

During the three months ended March 31, 2018, we purchased the following assets related to business acquisitions for total consideration of $76,559,000:

§

Alabama — aggregates, asphalt mix and construction paving operations

§

Texas — aggregates operations

The 2018 completed acquisitions listed above are reported in our condensed consolidated financial statements as of their respective acquisition dates. None of these acquisitions are material to our results of operations or financial position either individually or collectively. Purchase price allocations have not been finalized due to pending appraisals for intangible assets and property, plant & equipment.

For the full year 2017, we purchased the following for total consideration of $842,013,000 ($822,432,000 cash, $9,681,000 payable, $9,900,000 of fair value of assets swapped and net of $287,292,000 of assets divested immediately upon acquisition as required by the Department of Justice):

§

Arizona — asphalt mix operations

§

California — aggregates and ready-mixed concrete operations

§

Florida — aggregates operations

§

Georgia — aggregates operations

§

Illinois — aggregates operations

§

New Mexico — aggregates operations

§

South Carolina — aggregates operations

§

Tennessee — aggregates, asphalt mix and construction paving operations

§

Virginia — aggregates and ready-mixed concrete operations

The fair value of consideration transferred for the 2017 acquisitions considered to be material, and the preliminary amounts at December 31, 2017 (immaterial adjustments were recorded in the first quarter of 2018) of assets acquired and liabilities assumed, are summarized below:



	December 31
in thousands	2017
Fair Value of Purchase Consideration
Cash	$ 1,072,978
Payable to seller	7,837
Total fair value of purchase consideration	$ 1,080,815
Identifiable Assets Acquired and Liabilities Assumed
Accounts and notes receivable, net	$ 14,955
Inventories	21,679
Other current assets	608
Investments	3,590
Property, plant & equipment	433,606
Other intangible assets
Contractual rights in place	295,482
Liabilities assumed	(3,894)
Net identifiable assets acquired	$ 766,026
Goodwill	$ 27,497
Net Assets Divested Immediately Upon Acquisition	$ 287,292

As a result of the 2017 acquisitions, we recognized $309,112,000 of amortizable intangible assets ($309,012,000 contractual rights in place and $100,000 other intangibles). The contractual rights in place will be amortized against earnings ($73,879,000 – straight-line over a weighted-average 19.3 years and $235,133,000 – units of sales over an estimated 54.7 years) and deductible for income tax purposes over 15 years.

DIVESTITURES AND PENDING DIVESTITURES

In the first quarter of 2018, we sold:

§

ready-mixed concrete operations in Georgia resulting in a pretax gain of $2,929,000 (we retained all real property which is leased to the buyer, and obtained a long-term aggregates supply agreement)

In 2017, we sold:

§

Fourth quarter — swapped ready-mixed concrete operations in Arizona (fair value of $9,900,000 and book value of $1,879,000) for an asphalt mix operation in Arizona resulting in a pretax gain of $8,021,000

§

Fourth quarter — as required by the Department of Justice, we immediately divested certain assets obtained in the Aggregates USA acquisition resulting in no gain

No assets met the criteria for held for sale at March 31, 2018, December 31, 2017 or March 31, 2017.

NEW ACCOUNTING STANDARDS	3 Months Ended
NEW ACCOUNTING STANDARDS	Mar. 31, 2018
NEW ACCOUNTING STANDARDS [Abstract]
NEW ACCOUNTING STANDARDS	Note 17: New Accounting Standards ACCOUNTING STANDARDS RECENTLY ADOPTED PRESENTATION OF BENEFIT PLAN COSTS During the first quarter of 2018, we adopted Accounting Standards Update (ASU) 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” on a retrospective basis as required. This ASU changed the presentation of the net benefit cost in the income statement and limits benefit costs eligible for inventory capitalization to the service cost component (benefit costs capitalized in inventory are immaterial to our financial statements). We continue to present the service cost component of net benefit cost in cost of revenues and Selling, Administrative and General Expense consistent with employee compensation costs. The other components of net benefit cost (credit) are now included in other nonoperating income. These other components were a net credit for all periods presented resulting in a decrease in operating earnings and an increase in other nonoperating income, as follows: three months ended March 31, 2018 of $4,135,000 and three months ended March 31, 2017 of $2,021,000. CLASSIFICATION AND MEASUREMENT OF FINANCIAL INSTRUMENTS During the first quarter of 2018, we adopted ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” This ASU amends certain aspects of current guidance on the recognition, measurement and disclosure of financial instruments. Among other changes, this ASU requires most equity investments be measured at fair value. Additionally, the ASU eliminates the requirement to disclose the method and significant assumptions used to estimate the fair value for instruments not recognized at fair value in our financial statements. The adoption of this standard had no material impact on our consolidated financial statements. REVENUE RECOGNITION During the first quarter of 2018, we adopted ASU 2014-09, “Revenue from Contracts with Customers” (ASC Topic 606). Topic 606 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. Additionally, it provides a more robust framework for addressing revenue issues and expands required revenue recognition disclosures. We adopted this standard using the cumulative effect transition approach; however, because there was no change in the identified performance obligations under Topic 606 compared with the identification of deliverables and separate units of account under previous guidance (Topic 605), the amount and timing of our revenues remain materially unchanged. Our expanded revenue disclosure is presented in Note 4. ACCOUNTING STANDARDS PENDING ADOPTION RELEASING STRANDED TAX EFFECTS in February 2018, the FASB issued ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” which allows for the reclassification from accumulated other comprehensive income (AOCI) to retained earnings of stranded tax effects resulting from the TCJA enacted on December 22, 2017. This ASU also requires entities to disclose their accounting policy for releasing income tax effects from AOCI. ASU 2018-02 is effective for fiscal years beginning after December 15, 2018. We expect to early adopt this standard in the fourth quarter of 2018 effective as of the beginning of the year. While we are still evaluating the impact of ASU 2018-02, we do not expect the adoption of this standard to have a material impact on our consolidated financial statements. CREDIT LOSSES In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments,” which amends guidance on the impairment of financial instruments. The new guidance estimates credit losses based on expected losses, modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration. ASU 2016-13 is effective for annual reporting periods beginning after December 15, 2019, and interim reporting periods within those annual reporting periods. Early adoption is permitted for annual reporting periods beginning after December 15, 2018. While we are still evaluating the impact of ASU 2016-13, we do not expect the adoption of this standard to have a material impact on our consolidated financial statements. LEASE ACCOUNTING In February 2016, the FASB issued ASU 2016-02, “Leases,” which amends existing accounting standards for lease accounting and adds additional disclosures about leasing arrangements. Under the new guidance, lessees are required to recognize lease assets and lease liabilities on the balance sheet for all leases (excluding mineral leases) with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement and presentation of cash flow in the statement of cash flows. This ASU is effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within those annual reporting periods. Early adoption is permitted and modified retrospective application is required. We will adopt this standard in the first quarter of 2019. We continue to evaluate the impact of this standard on our consolidated financial statements. The majority of our leases are for real property (land and buildings), which we have determined will be treated as operating leases under this ASU. As a result, we anticipate recording a right-of-use asset and related lease liability for these leases, but we do not expect our expense recognition pattern to change. Therefore, we do not anticipate any significant change to our statements of comprehensive income or cash flows as a result of adopting this standard.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2018

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

NATURE OF OPERATIONS

Vulcan Materials Company (the “Company,” “Vulcan,” “we,” “our”), a New Jersey corporation, is the nation's largest supplier of construction aggregates (primarily crushed stone, sand and gravel) and a major producer of asphalt mix and ready-mixed concrete.

We operate primarily in the United States and our principal product — aggregates — is used in virtually all types of public and private construction projects and in the production of asphalt mix and ready-mixed concrete. We serve markets in twenty states, Washington D.C., and the local markets surrounding our operations in Mexico and the Bahamas. Our primary focus is serving metropolitan markets in the United States that are expected to experience the most significant growth in population, households and employment. These three demographic factors are significant drivers of demand for aggregates. While aggregates is our focus and primary business, we produce and sell asphalt mix and/or ready-mixed concrete in our Alabama, mid-Atlantic, Southwestern, Tennessee and Western markets.

BASIS OF PRESENTATION

Our accompanying unaudited condensed consolidated financial statements were prepared in compliance with the instructions to Form 10-Q and Article 10 of Regulation S-X and thus do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. Our Condensed Consolidated Balance Sheet as of December 31, 2017 was derived from the audited financial statement, but it does not include all disclosures required by accounting principles generally accepted in the United States of America. In the opinion of our management, the statements reflect all adjustments, including those of a normal recurring nature, necessary to present fairly the results of the reported interim periods. Operating results for the three month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. For further information, refer to the consolidated financial statements and footnotes included in our most recent Annual Report on Form 10-K.

Due to the 2005 sale of our Chemicals business as described in Note 2, the results of the Chemicals business are presented as discontinued operations in the accompanying Condensed Consolidated Statements of Comprehensive Income.

RECLASSIFICATIONS

Certain items previously reported in specific financial statement captions have been reclassified to conform to the 2018 presentation. In the first quarter of 2018, we adopted Accounting Standards Update (ASU) 2017-07, “Improving the Presentation of Net Periodic Benefit Cost and Net Periodic Postretirement Benefit Cost,” resulting in the reclassification of certain benefit costs from operating income to nonoperating income as described in Note 17.

RESTRICTED CASH

Restricted cash consists of cash proceeds from the sale of property held in escrow for the acquisition of replacement property under like-kind exchange agreements and cash reserved by other contractual agreements (such as asset purchase agreements) for a specified purpose and therefore is not available for use for other purposes. The escrow accounts are administered by an intermediary. Cash restricted pursuant to like-kind exchange agreements remains restricted for a maximum of 180 days from the date of the property sale pending the acquisition of replacement property. Restricted cash is included with cash and cash equivalents in the accompanying Condensed Consolidated Statements of Cash Flows.

EARNINGS PER SHARE (EPS)

Earnings per share are computed by dividing net earnings by the weighted-average common shares outstanding (basic EPS) or weighted-average common shares outstanding assuming dilution (diluted EPS), as set forth below:



	Three Months Ended
	March 31
in thousands	2018	2017
Weighted-average common shares
outstanding	132,690	132,636
Dilutive effect of
Stock-Only Stock Appreciation Rights	1,132	1,334
Other stock compensation plans	537	998
Weighted-average common shares
outstanding, assuming dilution	134,359	134,968

All dilutive common stock equivalents are reflected in our earnings per share calculations. In periods of loss, shares that otherwise would have been included in our diluted weighted-average common shares outstanding computation would be excluded.

Antidilutive common stock equivalents are not included in our earnings per share calculations. The number of antidilutive common stock equivalents for which the exercise price exceeds the weighted-average market price is as follows:



	Three Months Ended
	March 31
in thousands	2018	2017
Antidilutive common stock equivalents	157	79

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2018

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Weighted-Average Common Shares Outstanding Assuming Dilution



	Three Months Ended
	March 31
in thousands	2018	2017
Weighted-average common shares
outstanding	132,690	132,636
Dilutive effect of
Stock-Only Stock Appreciation Rights	1,132	1,334
Other stock compensation plans	537	998
Weighted-average common shares
outstanding, assuming dilution	134,359	134,968

Antidilutive Common Stock Equivalents



	Three Months Ended
	March 31
in thousands	2018	2017
Antidilutive common stock equivalents	157	79

DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 2018

DISCONTINUED OPERATIONS [Abstract]

Results from Discontinued Operations



	Three Months Ended
	March 31
in thousands	2018	2017
Discontinued Operations
Pretax earnings (loss)	$ (566)	$ 2,092
Income tax (expense) benefit	150	(694)
Earnings (loss) on discontinued operations,
net of tax	$ (416)	$ 1,398

- 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://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

+ Details

REVENUES (Tables)

3 Months Ended

Mar. 31, 2018

REVENUE [Abstract]

Revenues by Geographic Market

Our segment total revenues by geographic market for the current period are disaggregated as follows:



	Three Months Ended March 31, 2018
in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Total Revenues by Geographic Market 1
East	$ 193,848	$ 11,729	$ 61,571	$ 0	$ 267,148
Gulf Coast	383,941	14,644	25,199	1,942	425,726
West	121,868	77,462	14,192	0	213,522
Segment sales	$ 699,657	$ 103,835	$ 100,962	$ 1,942	$ 906,396
Intersegment sales	(51,922)	0	0	0	(51,922)
Total revenues	$ 647,735	$ 103,835	$ 100,962	$ 1,942	$ 854,474

1

The geographic markets are defined by states/countries as follows:

East market — Arkansas, Delaware, Illinois, Kentucky, Maryland, North Carolina, Pennsylvania, Tennessee, Virginia, and Washington D.C.

Gulf Coast market — Alabama, Florida, Georgia, Louisiana, Mexico, Mississippi, Oklahoma, South Carolina, Texas and the Bahamas

West market — Arizona, California and New Mexico

Reconciliation of Deferred Revenue Balances



	Three Months Ended
	March 31
in thousands	2018	2017
Deferred Revenue
Balance at beginning of period	$ 199,556	$ 206,468
Revenue recognized from deferred revenue	(1,355)	(1,649)
Balance at end of period	$ 198,201	$ 204,819

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2018

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value Measurement on Recurring Basis



	Level 1 Fair Value
	March 31	December 31	March 31
in thousands	2018	2017	2017
Fair Value Recurring
Rabbi Trust
Mutual funds	$ 19,412	$ 20,348	$ 5,148
Equities	0	0	10,608
Total	$ 19,412	$ 20,348	$ 15,756



	Level 2 Fair Value
	March 31	December 31	March 31
in thousands	2018	2017	2017
Fair Value Recurring
Rabbi Trust
Money market mutual fund	$ 2,738	$ 1,203	$ 2,849
Total	$ 2,738	$ 1,203	$ 2,849

DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2018

DERIVATIVE INSTRUMENTS [Abstract]

Effects of Changes in Fair Values of Derivatives Designated as Cash Flow Hedges



		Three Months Ended
	Location on	March 31
in thousands	Statement	2018	2017
Interest Rate Hedges
Loss reclassified from AOCI	Interest
(effective portion)	expense	$ (89)	$ (528)

DEBT (Tables)

3 Months Ended

Mar. 31, 2018

DEBT [Abstract]

Debt



	Effective	March 31	December 31	March 31
in thousands	Interest Rates	2018	2017	2017
Short-term Debt
Bank line of credit expires 2021 1, 2	1.25%	$ 200,000	$ 0	$ 0
Total short-term debt		$ 200,000	$ 0	$ 0
Long-term Debt
Bank line of credit expires 2021 1, 2		$ 0	$ 250,000	$ 235,000
Term loan due 2018 2, 3		0	350,000	0
7.00% notes due 2018		0	0	272,512
10.375% notes due 2018		0	0	250,000
Floating-rate notes due 2020	2.50%	250,000	250,000	0
Floating-rate notes due 2021	2.69%	500,000	0	0
7.50% notes due 2021		0	35,111	600,000
8.85% notes due 2021	8.88%	6,000	6,000	6,000
Term loan due 2021 2		0	250,000	0
4.50% notes due 2025	4.65%	400,000	400,000	400,000
3.90% notes due 2027	4.00%	400,000	400,000	350,000
7.15% notes due 2037	8.05%	129,239	240,188	240,188
4.50% notes due 2047	4.59%	700,000	700,000	0
4.70% notes due 2048	5.42%	460,949	0	0
Other notes 2	6.46%	224	230	364
Total long-term debt - face value		$ 2,846,412	$ 2,881,529	$ 2,354,064
Unamortized discounts and debt issuance costs		(70,703)	(26,664)	(24,677)
Total long-term debt - book value		$ 2,775,709	$ 2,854,865	$ 2,329,387
Less current maturities		22	41,383	139
Total long-term debt - reported value		$ 2,775,687	$ 2,813,482	$ 2,329,248
Estimated fair value of long-term debt		$ 2,843,943	$ 2,983,419	$ 2,605,379


1	Borrowings on the bank line of credit are classified as short-term debt if we intend to repay within twelve months and as long-term debt otherwise.
2	Non-publicly traded debt.
3	This short-term loan was refinanced on a long-term basis in February 2018 as discussed below. Thus, it was classified as long-term debt as of December 31, 2017.

Standby Letters of Credit



in thousands
Standby Letters of Credit
Risk management insurance	$ 38,111
Reclamation/restoration requirements	5,128
Total	$ 43,239

ASSET RETIREMENT OBLIGATIONS (Tables)

3 Months Ended

Mar. 31, 2018

ASSET RETIREMENT OBLIGATIONS [Abstract]

Asset Retirement Obligations Operating Costs



	Three Months Ended
	March 31
in thousands	2018	2017
ARO Operating Costs
Accretion	$ 2,684	$ 2,882
Depreciation	1,337	1,632
Total	$ 4,021	$ 4,514

Reconciliations of Asset Retirement Obligations



	Three Months Ended
	March 31
in thousands	2018	2017
Asset Retirement Obligations
Balance at beginning of year	$ 218,117	$ 223,872
Liabilities incurred	0	0
Liabilities settled	(6,021)	(4,865)
Accretion expense	2,684	2,882
Revisions, net	(71)	4,123
Balance at end of period	$ 214,709	$ 226,012

BENEFIT PLANS (Tables)

3 Months Ended

Mar. 31, 2018

Pension Benefits [Member]

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Benefit Cost



PENSION BENEFITS	Three Months Ended
	March 31
in thousands	2018	2017
Components of Net Periodic Benefit Cost
Service cost	$ 1,429	$ 1,654
Interest cost	8,876	9,057
Expected return on plan assets	(14,797)	(12,096)
Amortization of prior service cost	335	335
Amortization of actuarial loss	2,457	1,824
Net periodic pension benefit cost (credit)	$ (1,700)	$ 774
Pretax reclassifications from AOCI included in
net periodic pension benefit cost	$ 2,792	$ 2,159

Postretirement Benefits [Member]

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Benefit Cost



OTHER POSTRETIREMENT BENEFITS	Three Months Ended
	March 31
in thousands	2018	2017
Components of Net Periodic Benefit Cost
Service cost	$ 339	$ 292
Interest cost	310	315
Amortization of prior service credit	(991)	(1,059)
Amortization of actuarial gain	(324)	(397)
Net periodic postretirement benefit credit	$ (666)	$ (849)
Pretax reclassifications from AOCI included in
net periodic postretirement benefit credit	$ (1,315)	$ (1,456)

OTHER COMPREHENSIVE INCOME (Tables)

3 Months Ended

Mar. 31, 2018

OTHER COMPREHENSIVE INCOME [Abstract]

Accumulated Other Comprehensive Income, Net of Tax



	March 31	December 31	March 31
in thousands	2018	2017	2017
AOCI
Interest rate hedges	$ (8,876)	$ (11,438)	$ (12,980)
Pension and postretirement plans	(136,937)	(138,028)	(125,649)
Total	$ (145,813)	$ (149,466)	$ (138,629)

Changes in Accumulated Other Comprehensive Income, Net of Tax



		Pension and
	Interest Rate	Postretirement
in thousands	Hedges	Benefit Plans	Total
AOCI
Balance as of December 31, 2017	$ (11,438)	$ (138,028)	$ (149,466)
Other comprehensive income (loss)
before reclassifications	2,496	0	2,496
Amounts reclassified from AOCI	66	1,091	1,157
Net current period OCI changes	2,562	1,091	3,653
Balance as of March 31, 2018	$ (8,876)	$ (136,937)	$ (145,813)

Amounts Reclassified from Accumulated Other Comprehensive Income to Earnings



	Three Months Ended
	March 31
in thousands	2018	2017
Amortization of Interest Rate Hedge Losses
Interest expense	$ 89	$ 528
Benefit from income taxes	(23)	(208)
Total	$ 66	$ 320
Amortization of Pension and Postretirement
Plan Actuarial Loss and Prior Service Cost
Other nonoperating income	$ 1,476	$ 703
Benefit from income taxes	(385)	(276)
Total	$ 1,091	$ 427
Total reclassifications from AOCI to earnings	$ 1,157	$ 747

EQUITY (Tables)

3 Months Ended

Mar. 31, 2018

EQUITY [Abstract]

Shares Purchased And Retired



	March 31	December 31	March 31
in thousands, except average price	2018	2017	2017
Shares Purchased and Retired
Number 1	492	510	417
Total purchase price 1	$ 57,824	$ 60,303	$ 49,221
Average price per share	$ 117.47	$ 118.18	$ 118.07


1	Settlement of 20 thousand shares at a total price of $2,250 thousand occurred after March 31, 2018.

Changes in Total Equity



	Three Months Ended
	March 31
in thousands	2018	2017
Total Equity
Balance at beginning of year	$ 4,968,893	$ 4,572,476
Net earnings	52,979	44,921
Share-based compensation plans, net of shares withheld for taxes	(24,109)	(21,498)
Purchase and retirement of common stock	(57,824)	(49,221)
Share-based compensation expense	6,794	6,488
Cash dividends on common stock ($0.28/$0.25 per share)	(37,176)	(33,152)
Other comprehensive income	3,653	747
Balance at end of period	$ 4,913,210	$ 4,520,761

SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2018

SEGMENT REPORTING [Abstract]

Segment Financial Disclosure



	Three Months Ended
	March 31
in thousands	2018	2017
Total Revenues
Aggregates 1	$ 699,657	$ 650,300
Asphalt	103,835	95,776
Concrete	100,962	88,750
Calcium	1,942	1,886
Segment sales	$ 906,396	$ 836,712
Aggregates intersegment sales	(51,922)	(49,384)
Total revenues	$ 854,474	$ 787,328
Gross Profit
Aggregates 2	$ 148,221	$ 138,791
Asphalt 2	246	8,482
Concrete 2	10,320	10,225
Calcium	547	723
Total	$ 159,334	$ 158,221
Depreciation, Depletion, Accretion
and Amortization (DDA&A)
Aggregates	$ 65,953	$ 57,656
Asphalt	7,002	5,731
Concrete	3,414	3,023
Calcium	69	195
Other	5,001	4,958
Total	$ 81,439	$ 71,563
Identifiable Assets 3
Aggregates	$ 8,545,904	$ 7,810,486
Asphalt	447,961	258,982
Concrete	267,678	235,592
Calcium	4,156	4,552
Total identifiable assets	$ 9,265,699	$ 8,309,612
General corporate assets	140,998	147,755
Cash and cash equivalents and restricted cash	46,514	286,957
Total	$ 9,453,211	$ 8,744,324


1	Includes product sales, as well as freight & delivery costs that we pass along to our customers, and service revenues related to aggregates.
2	The 2017 amounts have been revised as a result of our adoption of ASU 2017-07 as described in Note 17.
3	Certain temporarily idled assets are included within a segment's Identifiable Assets but the associated DDA&A is shown within Other in the DDA&A section above as the related DDA&A is excluded from segment gross profit.

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

3 Months Ended

Mar. 31, 2018

SUPPLEMENTAL CASH FLOW INFORMATION [Abstract]

Supplemental Information Referable to Condensed Consolidated Statements of Cash Flows



	Three Months Ended
	March 31
in thousands	2018	2017
Cash Payments (Refunds)
Interest (exclusive of amount capitalized)	$ 15,829	$ 2,498
Income taxes	(105,699)	1,562
Noncash Investing and Financing Activities
Accrued liabilities for purchases of property, plant & equipment	$ 24,714	$ 32,492
Accrued liabilities for common stock purchases	2,255	0
Amounts referable to business acquisitions
Liabilities assumed	2,796	0

GOODWILL (Tables)

3 Months Ended

Mar. 31, 2018

GOODWILL [Abstract]

Changes in Carrying Amount of Goodwill by Reportable Segment



in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Goodwill
Total as of December 31, 2017	$ 3,030,688	$ 91,633	$ 0	$ 0	$ 3,122,321
Goodwill of acquired businesses 1	7,840	0	0	0	7,840
Total as of March 31, 2018	$ 3,038,528	$ 91,633	$ 0	$ 0	$ 3,130,161


1	See Note 16 for a summary of acquisitions.

ACQUISITIONS AND DIVESTITURES (Tables)

3 Months Ended

Mar. 31, 2018

ACQUISITIONS AND DIVESTITURES [Abstract]

Schedule Of Business Acquisitions



	December 31
in thousands	2017
Fair Value of Purchase Consideration
Cash	$ 1,072,978
Payable to seller	7,837
Total fair value of purchase consideration	$ 1,080,815
Identifiable Assets Acquired and Liabilities Assumed
Accounts and notes receivable, net	$ 14,955
Inventories	21,679
Other current assets	608
Investments	3,590
Property, plant & equipment	433,606
Other intangible assets
Contractual rights in place	295,482
Liabilities assumed	(3,894)
Net identifiable assets acquired	$ 766,026
Goodwill	$ 27,497
Net Assets Divested Immediately Upon Acquisition	$ 287,292

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)	3 Months Ended
	Mar. 31, 2018 state factor
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
State of incorporation	New Jersey
Number of states \| state	20
Number of demographic factors \| factor	3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Weighted-Average Common Shares Outstanding Assuming Dilution) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Weighted-average common shares outstanding	132,690	132,636
Dilutive effect of Stock-Only Appreciation Rights	1,132	1,334
Dilutive effect of Other stock compensation plans	537	998
Weighted-average common shares outstanding, assuming dilution	134,359	134,968

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Antidilutive Common Stock Equivalents) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Antidilutive common stock equivalents	157	79

DISCONTINUED OPERATIONS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
DISCONTINUED OPERATIONS [Abstract]
Revenues from discontinued operations	$ 0	$ 0

DISCONTINUED OPERATIONS (Results from Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
DISCONTINUED OPERATIONS [Abstract]
Pretax earnings (loss)	$ (566)	$ 2,092
Income tax (expense) benefit	150	(694)
Earnings (loss) on discontinued operations, net of tax	$ (416)	$ 1,398

- Definition

Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

- Definition

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

+ References + Details

- Definition

Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

INCOME TAXES (Narrative) (Details) - USD ($)	3 Months Ended		12 Months Ended
INCOME TAXES (Narrative) (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
U.S. federal corporate income tax rate	21.00%		35.00%
Tax Cuts and Jobs Act of 2017, percent of immediate deductibility of certain capital investments	100.00%
Tax Cuts and Jobs Act of 2017, incomplete accounting, provisional expense, deferred tax assets, executive compensation			$ 1,403,000
Income tax benefit	$ (4,903,000)	$ (3,175,000)
Tax Cuts and Jobs Act of 2017, incomplete accounting, provisional transition tax, foreign repatriation			$ 12,301,000
Forecast [Member]
Operating Loss Carryforwards [Line Items]
State net operating loss carryforwards				$ 71,159,000
Net operating loss carryforwards, valuation allowance				29,695,000
Alabama [Member] \| State [Member] \| Earliest Tax Year [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards expiration date	Dec. 31, 2023
Alabama [Member] \| State [Member] \| Latest Tax Year [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards expiration date	Dec. 31, 2033
Alabama [Member] \| Forecast [Member]
Operating Loss Carryforwards [Line Items]
State net operating loss carryforwards				67,546,000
Net operating loss carryforwards, valuation allowance				$ 29,182,000

REVENUES (Narrative) (Details)	3 Months Ended	24 Months Ended
REVENUES (Narrative) (Details)	Mar. 31, 2018 item	Dec. 31, 2013 USD ($)	Mar. 31, 2019 USD ($)
Deferred Revenue Arrangement [Line Items]
Number of quarries \| item	8
Proceeds from sale of production		$ 226,926,000
Term of the VPPs	25 years
Maximum [Member] \| Construction Paving [Member]
Deferred Revenue Arrangement [Line Items]
Costs for paving contracts expense, expected amortization period	1 year
Forecast [Member]
Deferred Revenue Arrangement [Line Items]
Estimated deferred revenue to be recognized in the next 12 months			$ 7,470,000
Asphalt [Member] \| Maximum [Member] \| Construction Paving [Member]
Deferred Revenue Arrangement [Line Items]
Percent of segment's revenue	10.00%
Aggregates [Member] \| Minimum [Member]
Deferred Revenue Arrangement [Line Items]
Percent of shipments used for publicly funded construction	45.00%
Aggregates [Member] \| Maximum [Member]
Deferred Revenue Arrangement [Line Items]
Percent of shipments used for publicly funded construction	55.00%
Aggregates [Member] \| Maximum [Member] \| Services [Member]
Deferred Revenue Arrangement [Line Items]
Percent of segment's revenue	2.00%

REVENUES (Revenues by Geographic Market) (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

$ 854,474

$ 787,328

Operating Segments [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

906,396

836,712

Intersegment sales [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

(51,922)

East [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

267,148

Gulf Coast [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

425,726

West [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

213,522

Aggregates [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

647,735

Aggregates [Member] | Operating Segments [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

^[1]

699,657

650,300

Aggregates [Member] | Intersegment sales [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

(51,922)

(49,384)

Aggregates [Member] | East [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

193,848

Aggregates [Member] | Gulf Coast [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

383,941

Aggregates [Member] | West [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

121,868

Asphalt [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

103,835

Asphalt [Member] | Operating Segments [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

103,835

95,776

Asphalt [Member] | Intersegment sales [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

0

Asphalt [Member] | East [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

11,729

Asphalt [Member] | Gulf Coast [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

14,644

Asphalt [Member] | West [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

77,462

Concrete [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

100,962

Concrete [Member] | Operating Segments [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

100,962

88,750

Concrete [Member] | Intersegment sales [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

0

Concrete [Member] | East [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

61,571

Concrete [Member] | Gulf Coast [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

25,199

Concrete [Member] | West [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

14,192

Calcium [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

1,942

Calcium [Member] | Operating Segments [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

1,942

$ 1,886

Calcium [Member] | Intersegment sales [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

0

Calcium [Member] | East [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

0

Calcium [Member] | Gulf Coast [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

1,942

Calcium [Member] | West [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Total revenues

$ 0

[1]	Includes product sales, as well as freight & delivery costs that we pass along to our customers, and service revenues related to aggregates.

REVENUES (Reconciliation of Deferred Revenue Balances) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Balance at beginning of period	$ 199,556	$ 206,468
Revenue recognized from deferred revenue	(1,355)	(1,649)
Balance at end of period	$ 198,201	$ 204,819

FAIR VALUE MEASUREMENTS (Narrative) (Details)	3 Months Ended
FAIR VALUE MEASUREMENTS (Narrative) (Details)	Mar. 31, 2018 USD ($) item	Mar. 31, 2017 USD ($)
FAIR VALUE MEASUREMENTS [Abstract]
Number of Rabbi Trusts established \| item	2
Net gains (losses) of the Rabbi Trust investments	$ (776,000)	$ 239,000
Unrealized net gains (losses) of the Rabbi Trust investments	$ (787,000)	$ (197,000)

FAIR VALUE MEASURMENTS (Fair Value Measurement on Recurring Basis) (Details) - Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value, recurring	$ 19,412	$ 20,348	$ 15,756
Level 1 [Member] \| Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value, recurring	19,412	20,348	5,148
Level 1 [Member] \| Equities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value, recurring	0	0	10,608
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value, recurring	2,738	1,203	2,849
Level 2 [Member] \| Money Market Mutual Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value, recurring	$ 2,738	$ 1,203	$ 2,849

DERIVATIVE INSTRUMENTS (Narrative) (Details)	Mar. 31, 2018 USD ($)
Designated as Hedging Instrument [Member] \| Cash Flow Hedges [Member] \| Interest Rate Swap [Member]
Derivative [Line Items]
Estimated amount of pretax loss in AOCI reclassified to earnings for the next 12-month period	$ 291,000

DERIVATIVE INSTRUMENTS (Effects of Changes in Fair Values of Derivatives Designated as Cash Flow Hedges) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Interest Rate Swap [Member] \| Cash Flow Hedges [Member] \| Designated as Hedging Instrument [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Loss reclassified from AOCI (effective portion)	$ (89)	$ (528)

DEBT (Narrative) (Details)

1 Months Ended

3 Months Ended

12 Months Ended

Mar. 31, 2018

USD ($)

Feb. 28, 2018

USD ($)

Jan. 31, 2018

USD ($)

Dec. 31, 2017

USD ($)

Jul. 31, 2017

USD ($)

Jun. 30, 2017

USD ($)

Mar. 31, 2017

USD ($)

Mar. 31, 2018

USD ($)

item

Mar. 31, 2017

USD ($)

Dec. 31, 2017

USD ($)

Debt Instrument [Line Items]

Discounts and debt issuance costs

$ 1,473,000

Total long-term debt - face value

$ 2,846,412,000

$ 2,881,529,000

$ 2,354,064,000

2,846,412,000

$ 2,354,064,000

$ 2,881,529,000

Long term debt

2,775,709,000

2,854,865,000

2,329,387,000

2,775,709,000

2,329,387,000

2,854,865,000

Repayments of long term debt

$ 565,560,000

892,038,000

5,000

Proceeds from issuance of long-term debt

850,000,000

350,000,000

Net proceeds

$ 846,029,000

Net noncash expense

3,029,000

466,000

7,257,000

Premium for repayments of debt

43,020,000

5,608,000

139,187,000

Transaction costs for repayments of debt

$ 28,000

1,314,000

1,586,000

Combined charge, component of interest expense

7,388,000

148,030,000

Total short-term debt

200,000,000

0

$ 200,000,000

0

Investment-Grade Type Covenants Governed [Member]

Debt Instrument [Line Items]

Number of indentures with customary investment-grade type covenants | item

3

Bank Line of Credit [Member]

Debt Instrument [Line Items]

Maximum borrowing capacity

750,000,000

$ 750,000,000

Commitment fee

0.15%

Available borrowing capacity

506,761,000

$ 506,761,000

Borrowings

0

$ 0

Bank Line of Credit [Member] | LIBOR [Member]

Debt Instrument [Line Items]

Applicable margin on borrowing rate

1.25%

Bank Line of Credit [Member] | Base Rate [Member]

Debt Instrument [Line Items]

Applicable margin on borrowing rate

0.25%

Bank Line of Credit [Member] | Maximum, Upon Certain Acquisitions [Member]

Debt Instrument [Line Items]

Debt to EBITDA ratio

3.75

Standby Letters of Credit [Member]

Debt Instrument [Line Items]

Outstanding standby letters of credit

43,239,000

$ 43,239,000

Period of standby letters of credit

1 year

Standby Letters of Credit [Member] | LIBOR [Member]

Debt Instrument [Line Items]

Applicable margin on borrowing rate

0.175%

Minimum [Member] | Bank Line of Credit [Member]

Debt Instrument [Line Items]

EBITDA to net cash interest expense ratio

3.0

Commitment fee

0.10%

Minimum [Member] | Bank Line of Credit [Member] | LIBOR [Member]

Debt Instrument [Line Items]

Applicable margin on borrowing rate

1.00%

Minimum [Member] | Bank Line of Credit [Member] | Base Rate [Member]

Debt Instrument [Line Items]

Applicable margin on borrowing rate

0.00%

Maximum [Member] | Bank Line of Credit [Member]

Debt Instrument [Line Items]

Debt to EBITDA ratio

3.5

Commitment fee

0.25%

Maximum [Member] | Bank Line of Credit [Member] | LIBOR [Member]

Debt Instrument [Line Items]

Applicable margin on borrowing rate

1.75%

Maximum [Member] | Bank Line of Credit [Member] | Base Rate [Member]

Debt Instrument [Line Items]

Applicable margin on borrowing rate

0.75%

Term Loan Due 2018 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

^[1],[2]

0

350,000,000

0

$ 0

0

350,000,000

350,000,000

2018

6 months

Debt Instrument [Line Items]

Face value

$ 1,000,000,000

Net proceeds

989,512,000

Notes [Member] | 3.90% notes due 2027 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 400,000,000

400,000,000

$ 350,000,000

$ 400,000,000

$ 350,000,000

400,000,000

2027

$ 400,000,000

3.90%

$ 345,450,000

Notes [Member] | 3.90% notes due 2027 [Member] | June 2017 Issuance [Member]

Debt Instrument [Line Items]

Face value

$ 50,000,000

Notes [Member] | 3.90% notes due 2027 [Member] | March 2017 Issuance [Member]

Debt Instrument [Line Items]

Face value

350,000,000

$ 350,000,000

Notes [Member] | Delayed draw term loan [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 0

^[1]

250,000,000

^[1]

250,000,000

0

^[1]

$ 0

^[1]

0

^[1]

250,000,000

^[1]

Maturity year

2021

Notes [Member] | Investment-Grade Type Covenants Governed [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

2,846,188,000

$ 2,846,188,000

Notes [Member] | 4.50% notes due 2047 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 700,000,000

700,000,000

0

$ 700,000,000

0

700,000,000

Maturity year

2047

Face value

$ 700,000,000

Interest rate

4.50%

Notes [Member] | 4.50% notes due 2025 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 400,000,000

400,000,000

$ 400,000,000

400,000,000

Maturity year

2025

Interest rate

4.50%

Notes [Member] | Floating-Rate Notes Due 2020 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 250,000,000

250,000,000

0

$ 250,000,000

0

250,000,000

Maturity year

2020

Face value

$ 250,000,000

Notes [Member] | 10.375% notes due 2018 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 0

0

250,000,000

$ 0

250,000,000

0

Maturity year

2018

Interest rate

10.375%

Notes [Member] | 7.00% notes due 2018 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 0

0

272,512,000

$ 0

272,512,000

0

Maturity year

2018

Interest rate

7.00%

Notes [Member] | 7.50% notes due 2021 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 0

35,111,000

600,000,000

$ 0

600,000,000

35,111,000

Maturity year

2021

Face value

$ 35,111,000

564,889,000

Interest rate

7.50%

Net noncash expense

263,000

4,228,000

Repayments of debt

40,719,000

662,613,000

Premium for repayments of debt

$ 5,608,000

96,167,000

Transaction costs for repayments of debt

1,558,000

Notes [Member] | 4.70% Percent due 2048 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 460,949,000

0

$ 460,949,000

0

Maturity year

2048

Face value

$ 460,949,000

$ 350,000,000

$ 460,949,000

Interest rate

4.70%

Net noncash expense

$ 203,000

Premium for repayments of debt

$ 38,164,000

Notes [Member] | Floating-Rate Notes Due 2021 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

500,000,000

0

$ 500,000,000

0

Maturity year

2021

Face value

$ 500,000,000

Notes [Member] | 7.15% notes due 2037 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

129,239,000

$ 240,188,000

240,188,000

$ 129,239,000

240,188,000

$ 240,188,000

Maturity year

2037

Repayments of long term debt

$ 110,949,000

Interest rate

7.15%

Transaction costs for repayments of debt

$ 1,314,000

Bank Line of Credit [Member]

Debt Instrument [Line Items]

Maturity date

Dec. 31, 2021

Total long-term debt - face value

$ 0

^[1],[3]

$ 250,000,000

^[1],[3]

$ 235,000,000

^[1],[3]

$ 0

^[1],[3]

$ 235,000,000

^[1],[3]

$ 250,000,000

^[1],[3]

[1]	Non-publicly traded debt.
[2]	This short-term loan was refinanced on a long-term basis in February 2018 as discussed below. Thus, it was classified as long-term debt as of December 31, 2017
[3]	Borrowings on the bank line of credit are classified as short-term debt if we intend to repay within twelve months and as long-term debt otherwise.

DEBT (Debt) (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2018

Feb. 28, 2018

Dec. 31, 2017

Jun. 30, 2017

Mar. 31, 2017

Debt Instrument [Line Items]

Total short-term debt

$ 200,000

$ 0

Total long-term debt - face value

2,846,412

2,881,529

2,354,064

Unamortized discounts and debt issuance costs

(70,703)

(26,664)

(24,677)

Total long-term debt - book value

2,775,709

2,854,865

2,329,387

Less current maturities

22

41,383

139

Total long-term debt - reported value

2,775,687

2,813,482

2,329,248

Estimated fair value of long-term debt

2,843,943

2,983,419

2,605,379

Bank Line of Credit [Member]

Debt Instrument [Line Items]

Total short-term debt

^[1],[2]

$ 200,000

0

Maturity date

Dec. 31, 2021

Effective interest rate

^[1],[2]

1.25%

Bank Line of Credit [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 0

^[1],[2]

250,000

^[1],[2]

$ 235,000

235,000

^[1],[2]

Maturity date

Dec. 31, 2021

Term Loan Due 2018 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

^[2],[3]

$ 0

350,000

0

Total long-term debt - book value

350,000

Maturity year

2018

Notes [Member] | 7.00% notes due 2018 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 0

0

272,512

Interest rate

7.00%

Maturity year

2018

Notes [Member] | 10.375% notes due 2018 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 0

0

250,000

Interest rate

10.375%

Maturity year

2018

Notes [Member] | Floating-Rate Notes Due 2020 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 250,000

250,000

0

Maturity year

2020

Effective interest rate

2.50%

Notes [Member] | Floating-Rate Notes Due 2021 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 500,000

0

Maturity year

2021

Effective interest rate

2.69%

Notes [Member] | 7.50% notes due 2021 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 0

35,111

600,000

Interest rate

7.50%

Maturity year

2021

Notes [Member] | 8.85% notes due 2021 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 6,000

6,000

Interest rate

8.85%

Maturity year

2021

Effective interest rate

8.88%

Notes [Member] | Delayed draw term loan [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 0

^[2]

250,000

^[2]

$ 250,000

0

^[2]

Maturity year

2021

Notes [Member] | 4.50% notes due 2025 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 400,000

400,000

Interest rate

4.50%

Maturity year

2025

Effective interest rate

4.65%

Notes [Member] | 3.90% notes due 2027 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 400,000

400,000

$ 350,000

Interest rate

3.90%

Maturity year

2027

Effective interest rate

4.00%

Notes [Member] | 7.15% notes due 2037 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 129,239

$ 240,188

Interest rate

7.15%

Maturity year

2037

Effective interest rate

8.05%

Notes [Member] | 4.50% notes due 2047 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 700,000

0

Interest rate

4.50%

Maturity year

2047

Effective interest rate

4.59%

Notes [Member] | 4.70% Percent due 2048 [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

$ 460,949

0

Interest rate

4.70%

Maturity year

2048

Effective interest rate

5.42%

Other Notes [Member]

Debt Instrument [Line Items]

Total long-term debt - face value

^[2]

$ 224

$ 230

$ 364

Effective interest rate

^[2]

6.46%

[1]	Borrowings on the bank line of credit are classified as short-term debt if we intend to repay within twelve months and as long-term debt otherwise.
[2]	Non-publicly traded debt.
[3]	This short-term loan was refinanced on a long-term basis in February 2018 as discussed below. Thus, it was classified as long-term debt as of December 31, 2017

DEBT (Standby Letters of Credit) (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Reclamation/restoration requirements	$ 214,709,000	$ 218,117,000	$ 226,012,000	$ 223,872,000
Standby Letters of Credit [Member]
Line of Credit Facility [Line Items]
Risk management insurance	38,111,000
Reclamation/restoration requirements	5,128,000
Total	$ 43,239,000

COMMITMENTS AND CONTINGENCIES (Narrative) (Details)	1 Months Ended					3 Months Ended		12 Months Ended
COMMITMENTS AND CONTINGENCIES (Narrative) (Details)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 item	Dec. 31, 2016 USD ($) item	Mar. 31, 2016 mi	May 31, 2007 entity mi	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($)
Loss Contingencies [Line Items]
Asset Retirement Obligation	$ 218,117,000		$ 223,872,000			$ 214,709,000	$ 226,012,000	$ 218,117,000
Number of groundwater extraction wells \| item		2
Parent Company [Member]
Loss Contingencies [Line Items]
Judge ruled allocation of fault among defendants, percentage	15.00%
Texas Brine [Member]
Loss Contingencies [Line Items]
Number of cases settled \| item			1
Cooperating Parties Group [Member]
Loss Contingencies [Line Items]
Number of other companies to perform a Remedial Investigation/ Feasibility Study related to the Lower Passaic River Clean-Up lawsuit \| entity					70
Number of miles of the River used in the Remedial Investigation/Feasibility Study \| mi					17
Number of miles for bank-to-bank dredging remedy \| mi				8
Occidental Chemical Co [Member]
Loss Contingencies [Line Items]
Judge ruled allocation of fault among defendants, percentage	50.00%
Texas Brine [Member]
Loss Contingencies [Line Items]
Judge ruled allocation of fault among defendants, percentage	35.00%
Maximum [Member] \| EPA [Member]
Loss Contingencies [Line Items]
Estimated implementation costs						1,380,000,000
Standby Letters of Credit [Member]
Loss Contingencies [Line Items]
Outstanding standby letters of credit						$ 43,239,000
Hewitt Landfill Matter [Member]
Loss Contingencies [Line Items]
Increase in accrual of liability for claims and litigation							$ 1,326,000	$ 15,239,000

ASSET RETIREMENT OBLIGATIONS (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($) a property	Mar. 31, 2017 USD ($)
Reclamation activities	$ 6,021	$ 4,865
California [Member]
Reclamation activities	$ 4,402	$ 1,899
Adjacent aggregates sites \| property	2
Property, acres \| a	90

ASSET RETIREMENT OBLIGATIONS (Asset Retirement Obligations Operating Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
ASSET RETIREMENT OBLIGATIONS [Abstract]
Accretion	$ 2,684	$ 2,882
Depreciation	1,337	1,632
Total	$ 4,021	$ 4,514

ASSET RETIREMENT OBLIGATIONS (Reconciliations of Asset Retirement Obligations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
ASSET RETIREMENT OBLIGATIONS [Abstract]
Balance at beginning of year	$ 218,117	$ 223,872
Liabilities incurred	0	0
Liabilities settled	(6,021)	(4,865)
Accretion expense	2,684	2,882
Revisions, net	(71)	4,123
Balance at end of period	$ 214,709	$ 226,012

BENEFIT PLANS (Narrative) (Details)	3 Months Ended
BENEFIT PLANS (Narrative) (Details)	Mar. 31, 2018 USD ($) entity
BENEFIT PLANS [Abstract]
Number of funded, noncontributory defined benefit pension plans	3
Number of unfunded, nonqualified pension plans	3
Discretionary qualified plan contribution \| $	$ 100,000,000
Normal retirement age	65 years

BENEFIT PLANS (Components of Net Periodic Benefit Cost- Pension Benefits) (Details) - Pension Benefits [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Components of Net Periodic Benefit Cost
Service cost	$ 1,429	$ 1,654
Interest cost	8,876	9,057
Expected return on plan assets	(14,797)	(12,096)
Amortization of prior service cost (credit)	335	335
Amortization of actuarial loss	2,457	1,824
Net periodic benefit cost (credit)	(1,700)	774
Pretax reclassification from AOCI included in net periodic pension/postretirement benefit cost (credit)	$ 2,792	$ 2,159

BENEFIT PLANS (Components of Net Periodic Benefit Cost- Other Postretirement Benefits) (Details) - Postretirement Benefits [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Components of Net Periodic Benefit Cost
Service cost	$ 339	$ 292
Interest cost	310	315
Amortization of prior service credit	(991)	(1,059)
Amortization of actuarial gain	(324)	(397)
Net periodic benefit cost (credit)	(666)	(849)
Pretax reclassification from AOCI included in net periodic pension/postretirement benefit cost (credit)	$ (1,315)	$ (1,456)

OTHER COMPREHENSIVE INCOME (Accumulated Other Comprehensive Income, Net of Tax) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
OTHER COMPREHENSIVE INCOME [Abstract]
Interest rate hedges	$ (8,876)	$ (11,438)	$ (12,980)
Pension and postretirement plans	(136,937)	(138,028)	(125,649)
Total	$ (145,813)	$ (149,466)	$ (138,629)

OTHER COMPREHENSIVE INCOME (Changes in Accumulated Other Comprehensive Income, Net of Tax) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
AOCI, Beginning balance	$ (149,466)
Other comprehensive income (loss) before reclassifications	2,496
Amounts reclassified from AOCI	1,157
Other comprehensive income	3,653	$ 747
AOCI, Ending balance	(145,813)	$ (138,629)
Amortization of Interest Rate Hedge Losses [Member]
AOCI, Beginning balance	(11,438)
Other comprehensive income (loss) before reclassifications	2,496
Amounts reclassified from AOCI	66
Other comprehensive income	2,562
AOCI, Ending balance	(8,876)
Amortization of Pension and Postretirement Plan Actuarial Loss and Prior Service Cost [Member]
AOCI, Beginning balance	(138,028)
Other comprehensive income (loss) before reclassifications	0
Amounts reclassified from AOCI	1,091
Other comprehensive income	1,091
AOCI, Ending balance	$ (136,937)

OTHER COMPREHENSIVE INCOME (Amounts Reclassified from Accumulated Other Comprehensive Income to Earnings) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ (37,774)	$ (34,076)
Other nonoperating income	5,083	4,045
Benefit from income taxes	(4,903)	(3,175)
Total	52,979	44,921
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	1,157	747
Amortization of Interest Rate Hedge Losses [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	89	528
Benefit from income taxes	(23)	(208)
Total	66	320
Amortization of Pension and Postretirement Plan Actuarial Loss and Prior Service Cost [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other nonoperating income	1,476	703
Benefit from income taxes	(385)	(276)
Total	$ 1,091	$ 427

EQUITY (Narrative) (Details)	3 Months Ended
EQUITY (Narrative) (Details)	Mar. 31, 2018 item $ / shares shares	Dec. 31, 2017 $ / shares shares	Mar. 31, 2017 $ / shares shares
EQUITY [Abstract]
Common stock, par value \| $ / shares	$ 1	$ 1	$ 1
Number of votes per common stock \| item	1
Preferred stock, shares authorized	5,000,000
Preferred stock issued	0
Number of shares held in treasury	0	0	0
Shares remaining under the current authorization repurchase program	8,997,483

EQUITY (Shares Purchased And Retired) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Apr. 30, 2018

Mar. 31, 2018

Mar. 31, 2017

Dec. 31, 2017

Subsequent Event [Line Items]

Shares Purchased and Retired, Number

^[1]

492

417

510

Shares Purchased and Retired, Total purchase price

^[1]

$ 57,824

$ 49,221

$ 60,303

Shares Purchased and Retired, Average price per share

$ 117.47

$ 118.07

$ 118.18

Subsequent Event [Member]

Subsequent Event [Line Items]

Shares Purchased and Retired, Number

20

Shares Purchased and Retired, Total purchase price

$ 2,250

[1]	Settlement of 20 thousand shares at a total price of $2,250 thousand occurred after March 31, 2018.

EQUITY (Changes in Total Equity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
EQUITY [Abstract]
Balance at beginning of year	$ 4,968,893	$ 4,572,476
Net earnings	52,979	44,921
Share-based compensation plans, net of shares withheld for taxes	(24,109)	(21,498)
Purchase and retirement of common stock	(57,824)	(49,221)
Share-based compensation expense	6,794	6,488
Cash dividends on common stock ($0.28/$0.25 per share)	(37,176)	(33,152)
Other comprehensive income	3,653	747
Balance at end of period	$ 4,913,210	$ 4,520,761
Cash dividend on common stock, per share	$ 0.28	$ 0.25

SEGMENT REPORTING (Narrative) (Details) $ in Thousands	3 Months Ended
SEGMENT REPORTING (Narrative) (Details) $ in Thousands	Mar. 31, 2018 USD ($) segment	Mar. 31, 2017 USD ($)
Number of operating segments \| segment	4
Number of reportable segments \| segment	4
Revenues	$ 854,474	$ 787,328
Aggregates [Member]
Revenues	647,735
Asphalt [Member]
Revenues	103,835
Concrete [Member]
Revenues	$ 100,962

SEGMENT REPORTING (Segment Financial Disclosure) (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Dec. 31, 2017

Dec. 31, 2016

Segment Reporting Information [Line Items]

Total revenues

$ 854,474

$ 787,328

Gross profit

159,334

158,221

Depreciation, depletion, accretion and amortization

81,439

71,563

Cash and cash equivalents and restricted cash

46,514

286,957

$ 146,646

$ 268,019

Total assets

9,453,211

8,744,324

$ 9,504,891

Operating Segments [Member]

Segment Reporting Information [Line Items]

Total revenues

906,396

836,712

Total assets

^[1]

9,265,699

8,309,612

Intersegment sales [Member]

Segment Reporting Information [Line Items]

Total revenues

(51,922)

Aggregates [Member]

Segment Reporting Information [Line Items]

Total revenues

647,735

Aggregates [Member] | Operating Segments [Member]

Segment Reporting Information [Line Items]

Total revenues

^[2]

699,657

650,300

Gross profit

^[3]

148,221

138,791

Depreciation, depletion, accretion and amortization

65,953

57,656

Total assets

^[1]

8,545,904

7,810,486

Aggregates [Member] | Intersegment sales [Member]

Segment Reporting Information [Line Items]

Total revenues

(51,922)

(49,384)

Asphalt [Member]

Segment Reporting Information [Line Items]

Total revenues

103,835

Asphalt [Member] | Operating Segments [Member]

Segment Reporting Information [Line Items]

Total revenues

103,835

95,776

Gross profit

^[3]

246

8,482

Depreciation, depletion, accretion and amortization

7,002

5,731

Total assets

^[1]

447,961

258,982

Asphalt [Member] | Intersegment sales [Member]

Segment Reporting Information [Line Items]

Total revenues

0

Concrete [Member]

Segment Reporting Information [Line Items]

Total revenues

100,962

Concrete [Member] | Operating Segments [Member]

Segment Reporting Information [Line Items]

Total revenues

100,962

88,750

Gross profit

^[3]

10,320

10,225

Depreciation, depletion, accretion and amortization

3,414

3,023

Total assets

^[1]

267,678

235,592

Concrete [Member] | Intersegment sales [Member]

Segment Reporting Information [Line Items]

Total revenues

0

Calcium [Member]

Segment Reporting Information [Line Items]

Total revenues

1,942

Calcium [Member] | Operating Segments [Member]

Segment Reporting Information [Line Items]

Total revenues

1,942

1,886

Gross profit

547

723

Depreciation, depletion, accretion and amortization

69

195

Total assets

^[1]

4,156

4,552

Calcium [Member] | Intersegment sales [Member]

Segment Reporting Information [Line Items]

Total revenues

0

Other Segments [Member]

Segment Reporting Information [Line Items]

Depreciation, depletion, accretion and amortization

5,001

4,958

Corporate [Member]

Segment Reporting Information [Line Items]

Total assets

$ 140,998

$ 147,755

[1]	Certain temporarily idled assets are included within a segment's Identifiable Assets but the associated DDA&A is shown within Other in the DDA&A section above as the related DDA&A is excluded from segment gross profit.
[2]	Includes product sales, as well as freight & delivery costs that we pass along to our customers, and service revenues related to aggregates.
[3]	The 2017 amounts have been revised as a result of our adoption of ASU 2017-07 as described in Note 17

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
SUPPLEMENTAL CASH FLOW INFORMATION [Abstract]
Interest (exclusive of amount capitalized)	$ 15,829	$ 2,498
Income taxes	(105,699)	1,562
Accrued liabilities for purchases of property, plant & equipment	24,714	32,492
Accrued liabilities for common stock purchases	2,255	0
Amounts referable to business acquisitions Liabilities assumed	$ 2,796	$ 0

GOODWILL (Narrative) (Details)	3 Months Ended
GOODWILL (Narrative) (Details)	Mar. 31, 2018 USD ($) segment	Mar. 31, 2017 USD ($)
Goodwill [Line Items]
Goodwill impairment charges	$ 0	$ 0
Number of Reportable Segments \| segment	4
Calcium [Member]
Goodwill [Line Items]
Goodwill, accumulated impairment losses	$ 252,664,000

GOODWILL (Changes in Carrying Amount of Goodwill by Reportable Segment) (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2018

Dec. 31, 2017

Goodwill [Line Items]

Goodwill, Beginning balance

$ 3,122,321

Goodwill of acquired businesses

7,840

^[1]

$ 27,497

Goodwill, Ending balance

3,130,161

3,122,321

Aggregates [Member]

Goodwill [Line Items]

Goodwill, Beginning balance

3,030,688

Goodwill of acquired businesses

^[1]

7,840

Goodwill, Ending balance

3,038,528

3,030,688

Asphalt [Member]

Goodwill [Line Items]

Goodwill, Beginning balance

91,633

Goodwill of acquired businesses

^[1]

0

Goodwill, Ending balance

91,633

Concrete [Member]

Goodwill [Line Items]

Goodwill, Beginning balance

0

Goodwill of acquired businesses

^[1]

0

Goodwill, Ending balance

0

Calcium [Member]

Goodwill [Line Items]

Goodwill, Beginning balance

0

Goodwill of acquired businesses

^[1]

0

Goodwill, Ending balance

$ 0

[1]	See Note 16 for a summary of acquisitions.

ACQUISITIONS AND DIVESTITURES (Narrative) (Details) - USD ($)

3 Months Ended

12 Months Ended

Mar. 31, 2018

Dec. 31, 2017

Mar. 31, 2017

Dec. 31, 2017

Significant Acquisitions and Disposals [Line Items]

Consideration transferred, net of assets divested

$ 842,013,000

Total consideration

$ 76,559,000

1,080,815,000

Cash consideration

76,259,000

$ 185,067,000

822,432,000

Consideration payable amount

9,681,000

Assets acquired

$ 9,900,000

9,900,000

Goodwill

7,840,000

^[1]

27,497,000

Proceeds from sale of property, plant & equipment

1,701,000

1,239,000

Gain on sale of property, plant & equipment and businesses

4,164,000

369,000

Assets held for sale

$ 0

0

$ 0

0

Aggregates USA [Member]

Significant Acquisitions and Disposals [Line Items]

Amount of assets divested

287,292,000

Gain on sale of property, plant & equipment and businesses

0

Acquisitions 2017 [Member]

Significant Acquisitions and Disposals [Line Items]

Amortizable intangible assets recognized

309,112,000

Intangible assets amortization period, tax purposes

15 years

Arizona [Member]

Significant Acquisitions and Disposals [Line Items]

Gain on sale of property, plant & equipment and businesses

8,021,000

Assets divested, fair value

9,900,000

Assets held for sale

$ 1,879,000

1,879,000

Georgia [Member]

Significant Acquisitions and Disposals [Line Items]

Gain on sale of property, plant & equipment and businesses

$ 2,929,000

Aggregates [Member]

Significant Acquisitions and Disposals [Line Items]

Goodwill

^[1]

7,840,000

Concrete [Member]

Significant Acquisitions and Disposals [Line Items]

Goodwill

^[1]

0

Asphalt [Member]

Significant Acquisitions and Disposals [Line Items]

Goodwill

^[1]

$ 0

Contractual Rights In Place [Member] | Acquisitions 2017 [Member]

Significant Acquisitions and Disposals [Line Items]

Amortizable intangible assets recognized

309,012,000

Contractual Rights In Place - Straight-Line Method [Member] | Acquisitions 2017 [Member]

Significant Acquisitions and Disposals [Line Items]

Amortizable intangible assets recognized

73,879,000

Estimated weighted-average amortization period of intangible assets

19 years 3 months 18 days

Contractual Rights In Place - Units Of Sales [Member] | Acquisitions 2017 [Member]

Significant Acquisitions and Disposals [Line Items]

Amortizable intangible assets recognized

235,133,000

Estimated weighted-average amortization period of intangible assets

54 years 8 months 12 days

Other Intangibles [Member] | Acquisitions 2017 [Member]

Significant Acquisitions and Disposals [Line Items]

Amortizable intangible assets recognized

$ 100,000

[1]	See Note 16 for a summary of acquisitions.

ACQUISITIONS AND DIVESTITURES (Schedule Of Business Acquisitions) (Details) - USD ($)

3 Months Ended

12 Months Ended

Mar. 31, 2018

Dec. 31, 2017

ACQUISITIONS AND DIVESTITURES [Abstract]

Cash

$ 1,072,978,000

Payable to seller

7,837,000

Total fair value of purchase consideration

$ 76,559,000

1,080,815,000

Accounts and notes receivable, net

14,955,000

Inventories

21,679,000

Other current assets

608,000

Investments

3,590,000

Property, plant & equipment

433,606,000

Contractual rights in place

295,482,000

Liabilities assumed

(3,894,000)

Net identifiable assets acquired

766,026,000

Goodwill

$ 7,840,000

^[1]

27,497,000

Net Assets Divested Immediately Upon Acquisition

$ 287,292,000

[1]	See Note 16 for a summary of acquisitions.

NEW ACCOUNTING STANDARDS (Details) - USD ($) $ in Thousands	3 Months Ended
NEW ACCOUNTING STANDARDS (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
ASU 2017-07 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
All other components	$ 4,135	$ 2,021