^[1]

$ 1,361,047

$ 1,322,575

$ 2,429,391

$ 2,371,817

Cost of revenues

962,683

926,056

1,801,760

1,773,575

Selling, administrative and general expenses

398,364

396,519

627,631

598,242

100,667

91,205

189,260

177,635

Gain (loss) on sale of property, plant & equipment and businesses

211

(258)

117,376

741

Other operating expense, net

(10,372)

(6,160)

(18,698)

(10,151)

Operating earnings

287,536

298,896

537,049

411,197

Other nonoperating income (expense), net

8,223

7,367

14,136

(1,969)

Interest expense, net

41,696

33,954

74,814

64,727

Earnings from continuing operations before income taxes

254,063

272,309

476,371

344,501

Income tax expense

57,283

61,352

117,922

73,546

Earnings from continuing operations

196,780

210,957

358,449

270,955

Loss on discontinued operations, net of tax

(1,436)

(1,041)

(2,491)

(781)

Net earnings

195,344

209,916

355,958

270,174

Other comprehensive income (loss), net of tax

Deferred loss on interest rate derivative

0

(14,679)

Amortization of prior interest rate derivative loss

360

194

716

988

Amortization of actuarial loss and prior service cost for benefit plans

1,235

1,695

2,470

3,390

Other comprehensive income (loss)

1,595

1,889

3,186

(10,301)

Comprehensive income

$ 196,939

$ 211,805

$ 359,144

$ 259,873

Basic earnings (loss) per share

Continuing operations

$ 1.48

$ 1.59

$ 2.70

$ 2.04

Discontinued operations

(0.01)

(0.02)

0.00

Net earnings

1.47

1.58

2.68

2.04

Diluted earnings (loss) per share

Continuing operations

1.47

1.58

2.69

2.03

Discontinued operations

(0.01)

0.00

(0.02)

0.00

Net earnings

$ 1.46

$ 1.58

$ 2.67

$ 2.03

Weighted-average common shares outstanding

Basic

132,781

132,552

132,765

132,560

Assuming dilution

133,507

133,115

133,455

133,154

Effective tax rate from continuing operations

22.50%

24.80%

21.30%

[1]

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 and Texas

West market — Arizona, California and New Mexico

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating Activities
Net earnings	$ 355,958	$ 270,174
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation, depletion, accretion and amortization	203,475	194,951
Noncash operating lease expense	20,867	17,977
Net gain on sale of property, plant & equipment and businesses	(117,376)	(741)
Contributions to pension plans	(4,097)	(4,409)
Share-based compensation expense	17,688	15,220
Deferred tax expense	41,103	36,644
Changes in assets and liabilities before initial effects of business acquisitions and dispositions	(135,007)	(101,271)
Other, net	15,262	(2,954)
Net cash provided by operating activities	397,873	425,591
Investing Activities
Purchases of property, plant & equipment	(192,234)	(223,147)
Proceeds from sale of property, plant & equipment	190,747	3,063
Proceeds from sale of businesses	0	651
Payment for businesses acquired, net of acquired cash	0	5,668
Other, net	15	5,575
Net cash used for investing activities	(1,472)	(219,526)
Financing Activities
Payment of current maturities and long-term debt	(500,013)	(250,012)
Proceeds from issuance of long-term debt	0	750,000
Debt issuance and exchange costs	(13,286)	(10,762)
Settlements of interest rate derivatives	0	(19,863)
Purchases of common stock	0	(26,132)
Dividends paid	(98,173)	(90,128)
Share-based compensation, shares withheld for taxes	(12,782)	(15,830)
Other, net	(1,754)	(645)
Net cash provided by (used for) financing activities	(626,008)	336,628
Net increase (decrease) in cash and cash equivalents and restricted cash	(229,607)	542,693
Cash and cash equivalents and restricted cash at beginning of year	1,198,013	274,506
Cash and cash equivalents and restricted cash at end of period	$ 968,406	$ 817,199

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2021

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 one of the nation’s largest suppliers 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. 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, Arizona, California, Maryland, New Mexico, Tennessee, Texas, Virginia and Washington D.C. 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 (GAAP) for complete financial statements. We prepared the accompanying condensed consolidated financial statements on the same basis as our annual financial statements, except for the adoption of new accounting standards as described in Note 17. Our Condensed Consolidated Balance Sheet as of December 31, 2020 was derived from the audited financial statement, but it does not include all disclosures required by GAAP. 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. For further information, refer to the consolidated financial statements and footnotes included in our most recent Annual Report on Form 10-K. Operating results for the three and six month periods ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021, particularly in light of the uncertainty over the economic and operational impacts of the current novel coronavirus (COVID-19) pandemic as construction activity continues to be impacted by capacity constraints (supply chain bottlenecks, labor shortages and transportation availability) and cost inflation.

Our condensed consolidated financial statements reflect estimates and assumptions made by management that affect the reported amounts of assets, liabilities, revenues and expenses. Such estimates and assumptions affect, among other things, our goodwill and long-lived asset valuations; inventory valuation; assessment of the annual effective tax rate; valuation of deferred income taxes; allowance for doubtful accounts; measurement of cash bonus plans; and pension plan assumptions. Events and changes in circumstances arising after June 30, 2021, including those resulting from the impacts of COVID-19, will be reflected in management’s estimates for future periods.

Due to the 2005 sale of our Chemicals business as described within this Note under the caption Discontinued Operations, the results of the Chemicals business are presented as discontinued operations in the accompanying Condensed Consolidated Statements of Comprehensive Income.

RESTRICTED CASH

Restricted cash primarily consists of cash proceeds from the sale of property held in escrow for the acquisition of replacement property under like-kind exchange agreements. 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 may also include 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. Restricted cash is included with cash and cash equivalents in the accompanying Condensed Consolidated Statements of Cash Flows.

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. Results from discontinued operations are as follows:



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Discontinued Operations
Pretax loss	$ (1,935)	$ (1,412)	$ (3,358)	$ (1,058)
Income tax benefit	499	371	867	277
Loss on discontinued operations,
net of tax	$ (1,436)	$ (1,041)	$ (2,491)	$ (781)

Our discontinued operations include charges/credits related to general and product liability costs, including legal defense costs, and environmental remediation costs associated with our former Chemicals business (including certain matters as discussed in Note 8). There were no revenues from discontinued operations for the periods presented.

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		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Weighted-average common shares
outstanding	132,781	132,552	132,765	132,560
Dilutive effect of
Stock-Only Stock Appreciation Rights	318	271	309	307
Other stock compensation plans	408	292	381	287
Weighted-average common shares
outstanding, assuming dilution	133,507	133,115	133,455	133,154

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		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Antidilutive common stock equivalents	67	296	67	275

LEASES

6 Months Ended

Jun. 30, 2021

LEASES [Abstract]

LEASES

Note 2: Leases

Our portfolio of nonmineral leases is composed of leases for real estate (including office buildings, aggregates sales yards, and concrete and asphalt sites) and equipment (including railcars and rail track, barges, office equipment and plant equipment).

Lease right-of-use (ROU) assets and liabilities and the weighted-average lease terms and discount rates are as follows:



		June 30	December 31	June 30
in thousands	Classification on the Balance Sheet	2021	2020	2020
Assets
Operating lease ROU assets		$ 530,760	$ 482,513	$ 472,003
Accumulated amortization		(65,995)	(59,385)	(45,385)
Operating leases, net	Operating lease right-of-use assets, net	464,765	423,128	426,618
Finance lease assets		11,061	7,796	6,223
Accumulated amortization		(2,970)	(1,640)	(737)
Finance leases, net	Property, plant & equipment, net	8,091	6,156	5,486
Total lease assets		$ 472,856	$ 429,284	$ 432,104
Liabilities
Current
Operating	Other current liabilities	$ 36,694	$ 36,969	$ 32,645
Finance	Other current liabilities	2,815	2,047	1,695
Noncurrent
Operating	Noncurrent operating lease liabilities	443,128	399,582	405,578
Finance	Other noncurrent liabilities	5,325	4,139	3,807
Total lease liabilities		$ 487,962	$ 442,737	$ 443,725
Lease Term and Discount Rate
Weighted-average remaining lease term (years)
Operating leases		9.1	9.5	10.4
Finance leases		3.8	4.2	4.4
Weighted-average discount rate
Operating leases		3.3%	3.6%	4.1%
Finance leases		1.3%	1.4%	1.5%

Our lease agreements do not contain residual value guarantees, restrictive covenants or early termination options that we deem material. We have not sought or been granted any material lease concessions as a result of the COVID-19 pandemic.

The components of lease expense are as follows:



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Lease Cost
Finance lease cost
Amortization of right-of-use assets	$ 699	$ 369	$ 1,330	$ 673
Interest on lease liabilities	30	25	60	47
Operating lease cost	15,517	14,234	30,809	28,340
Short-term lease cost ¹	5,345	7,676	10,447	16,721
Variable lease cost	2,779	3,773	5,470	6,905
Sublease income	(834)	(721)	(1,657)	(1,456)
Total lease cost	$ 23,536	$ 25,356	$ 46,459	$ 51,230


¹	Our short-term lease cost includes the cost of leases with an initial term of one month or less.

Cash paid for operating leases was $28,738,000 and $26,559,000 for the six months ended June 30, 2021 and 2020, respectively. Cash paid for finance leases was $1,310,000 and $658,000 for the six months ended June 30, 2021 and 2020, respectively.

INCOME TAXES

6 Months Ended

Jun. 30, 2021

INCOME TAXES [Abstract]

INCOME TAXES

Note 3: Income Taxes

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 second quarter of 2021, we recorded income tax expense from continuing operations of $57,283,000 compared to $61,352,000 in the second quarter of 2020. The decrease in tax expense was primarily related to a decrease in pretax earnings.

For the first six months of 2021, we recorded income tax expense from continuing operations of $117,922,000 compared to $73,546,000 for the first six months of 2020. The increase in tax expense was primarily related to an increase in pretax earnings and an increase in the Alabama net operating loss (NOL) valuation allowance.

In February 2021, the Alabama Business Competitiveness Act was signed into law. This Act contained a provision requiring most taxpayers to change from a three-factor, double-weighted sales method to a single-sales factor method to apportion income to Alabama. This provision had the effect of significantly reducing our apportionment of income to Alabama, thereby further inhibiting our ability to utilize our Alabama NOL carryforward. As a result, we recorded a charge in the first quarter to increase the valuation allowance by $13,695,000. No other material tax impacts resulted from the enactment of this Act.

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. A summary of our deferred tax assets and liabilities is included in Note 9 “Income Taxes” in our Annual Report on Form 10-K for the year ended December 31, 2020.

Each quarter we analyze the likelihood that our deferred tax assets will be realized. Realization of the deferred tax assets ultimately depends on the existence of sufficient taxable income of the appropriate character in either the carryback or carryforward period. 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. We project Alabama NOL carryforward deferred tax assets at December 31, 2021 of $63,155,000 against which we have a valuation allowance of $42,931,000 (after considering the Act). Almost all of the Alabama NOL carryforward would expire between 2023 and 2029 if not utilized.

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. While it is often difficult to predict the final outcome or the timing of resolution of any particular tax matter, we believe our liability for unrecognized tax benefits is appropriate.

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

REVENUES

6 Months Ended

Jun. 30, 2021

REVENUES [Abstract]

REVENUES

Note 4: revenueS

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 recorded as liabilities until remitted and thus are excluded from revenues. Costs to obtain and fulfill contracts (primarily asphalt construction paving contracts) are immaterial and are expensed as incurred when the expected amortization period is one year or less.

Our segment total revenues by geographic market for the three and six month periods ended June 30, 2021 and 2020 are disaggregated as follows:



	Three Months Ended June 30, 2021
in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Total Revenues by Geographic Market ¹
East	$ 354,415	$ 42,797	$ 66,265	$ 0	$ 463,477
Gulf Coast	607,514	46,075	18,618	1,960	674,167
West	163,438	123,705	11,318	0	298,461
Segment sales	$ 1,125,367	$ 212,577	$ 96,201	$ 1,960	$ 1,436,105
Intersegment sales	(75,058)	0	0	0	(75,058)
Total revenues	$ 1,050,309	$ 212,577	$ 96,201	$ 1,960	$ 1,361,047



	Three Months Ended June 30, 2020
in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Total Revenues by Geographic Market ¹
East	$ 350,238	$ 37,956	$ 71,653	$ 0	$ 459,847
Gulf Coast	567,811	50,503	17,946	1,889	638,149
West	152,547	134,491	11,084	0	298,122
Segment sales	$ 1,070,596	$ 222,950	$ 100,683	$ 1,889	$ 1,396,118
Intersegment sales	(73,543)	0	0	0	(73,543)
Total revenues	$ 997,053	$ 222,950	$ 100,683	$ 1,889	$ 1,322,575



	Six Months Ended June 30, 2021
in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Total Revenues by Geographic Market ¹
East	$ 597,766	$ 60,197	$ 121,354	$ 0	$ 779,317
Gulf Coast	1,126,368	87,488	36,026	4,020	1,253,902
West	296,142	212,059	20,180	0	528,381
Segment sales	$ 2,020,276	$ 359,744	$ 177,560	$ 4,020	$ 2,561,600
Intersegment sales	(132,209)	0	0	0	(132,209)
Total revenues	$ 1,888,067	$ 359,744	$ 177,560	$ 4,020	$ 2,429,391



	Six Months Ended June 30, 2020
in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Total Revenues by Geographic Market ¹
East	$ 590,106	$ 55,839	$ 133,772	$ 0	$ 779,717
Gulf Coast	1,061,107	84,358	34,911	3,915	1,184,291
West	287,609	222,542	26,765	0	536,916
Segment sales	$ 1,938,822	$ 362,739	$ 195,448	$ 3,915	$ 2,500,924
Intersegment sales	(129,107)	0	0	0	(129,107)
Total revenues	$ 1,809,715	$ 362,739	$ 195,448	$ 3,915	$ 2,371,817

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 and Texas

West market — Arizona, California and New Mexico

Total revenues are primarily derived from our product sales of aggregates (crushed stone, sand and gravel, sand and other 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 service revenues from our asphalt construction paving business and service revenues related to our aggregates business, such as landfill tipping fees. Our total service revenues were $60,778,000 (4.5% of total revenues) and $57,374,000 (4.3% of total revenues) for the three months ended June 30, 2021 and 2020, respectively, and $102,018,000 (4.2% of total revenues) and $96,938,000 (4.1% of total revenues) for the six months ended June 30, 2021 and 2020, respectively.

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, the vast majority of our aggregates business is not directly subject to renegotiation of profits or termination of contracts with state or federal governments.

PRODUCT 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 is recorded at the fixed invoice amount and payment is due by the 15^th 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 costs related to freight & delivery are included in cost of revenues.

Freight & delivery revenues are as follows:



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Freight & Delivery Revenues
Total revenues	$ 1,361,047	$ 1,322,575	$ 2,429,391	$ 2,371,817
Freight & delivery revenues ¹	(195,060)	(202,855)	(358,468)	(379,223)
Total revenues excluding freight & delivery	$ 1,165,987	$ 1,119,720	$ 2,070,923	$ 1,992,594


¹	Includes freight & delivery to remote distribution sites.

CONSTRUCTION PAVING SERVICE 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. Contract assets for estimated earnings in excess of billings, contract assets related to retainage provisions and contract liabilities for billings in excess of costs are immaterial. 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 DEFERRED 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 20 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 aggregates production. Our consolidated total revenues exclude the revenue from the sale of the purchaser’s share of aggregates.

The 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 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 VPP deferred revenue balances (current and noncurrent) is as follows:



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Deferred Revenue
Balance at beginning of period	$ 176,293	$ 183,997	$ 177,962	$ 185,339
Revenue recognized from deferred revenue	(2,217)	(2,034)	(3,886)	(3,376)
Balance at end of period	$ 174,076	$ 181,963	$ 174,076	$ 181,963

Based on expected sales from the specified quarries, we expect to recognize $7,500,000 of VPP deferred revenue as income during the 12-month period ending June 30, 2022 (reflected in other current liabilities in our June 30, 2021 Condensed Consolidated Balance Sheet).

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2021

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
	June 30	December 31	June 30
in thousands	2021	2020	2020
Fair Value Recurring
Rabbi Trust
Mutual funds	$ 31,190	$ 28,058	$ 21,994
Total	$ 31,190	$ 28,058	$ 21,994



	Level 2 Fair Value
	June 30	December 31	June 30
in thousands	2021	2020	2020
Fair Value Recurring
Rabbi Trust
Money market mutual fund	$ 1,249	$ 837	$ 1,738
Total	$ 1,249	$ 837	$ 1,738

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 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 (high-quality, short-term, U.S. dollar-denominated money market instruments).

Net gains (losses) of the Rabbi Trusts’ investments were $3,382,000 and $(998,000) for the six months ended June 30, 2021 and 2020, respectively. The portions of the net gains (losses) related to investments still held by the Rabbi Trusts at June 30, 2021 and 2020 were $3,028,000 and $(990,000), respectively.

Interest rate swaps are measured at fair value using quoted market prices or pricing models that use prevailing market interest rates as of the measurement date. These interest rate swaps are more fully described in Note 6.

The carrying values of our cash equivalents, restricted cash, accounts and notes receivable, short-term debt, trade payables and accruals, and all 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.

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.

COMMITMENTS AND CONTINGENCIES [Abstract]

DERIVATIVE INSTRUMENTS

6 Months Ended

Jun. 30, 2021

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, we use derivative instruments to balance the cost and risk of such exposures. We do not use derivative instruments for trading or other speculative purposes.

In 2007, 2018 and 2020, we entered into interest rate locks of future debt issuances to hedge the risk of higher interest rates. These interest rate locks were designated as cash flow hedges. The gain/loss upon settlement of these interest rate hedges is deferred (recorded in accumulated other comprehensive income (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		Six Months Ended
	Location on	June 30		June 30
in thousands	Statement	2021	2020	2021	2020
Interest Rate Hedges
Loss reclassified from AOCI	Interest
(effective portion)	expense	$ (487)	$ (263)	$ (969)	$ (1,337)

For the 12-month period ending June 30, 2022, we estimate that $2,005,000 of the $23,227,000 net of tax loss in AOCI will be reclassified to interest expense.

DEBT

6 Months Ended

Jun. 30, 2021

DEBT [Abstract]

DEBT

Note 7: Debt

Debt is detailed as follows:



	Effective	June 30	December 31	June 30
in thousands	Interest Rates	2021	2020	2020
Short-term Debt
Bank line of credit expires 2025 ¹		$ 0	$ 0	$ 0
Total short-term debt		$ 0	$ 0	$ 0
Long-term Debt
Delayed draw term loan expires 2024		$ 0	$ 0	$ 0
Bank line of credit expires 2025 ¹		0	0	0
Floating-rate notes due 2021		0	500,000	500,000
8.85% notes due 2021	8.88%	6,000	6,000	6,000
4.50% notes due 2025	4.65%	400,000	400,000	400,000
3.90% notes due 2027	4.00%	400,000	400,000	400,000
3.50% notes due 2030	3.94%	750,000	750,000	750,000
7.15% notes due 2037	8.05%	129,239	129,239	129,239
4.50% notes due 2047	4.59%	700,000	700,000	700,000
4.70% notes due 2048	5.42%	460,949	460,949	460,949
Other notes	0.88%	11,270	11,711	9,153
Total long-term debt - face value		$ 2,857,458	$ 3,357,899	$ 3,355,341
Unamortized discounts and debt issuance costs		(72,130)	(70,224)	(69,669)
Total long-term debt - book value		$ 2,785,328	$ 3,287,675	$ 3,285,672
Less current maturities		15,436	515,435	500,026
Total long-term debt - reported value		$ 2,769,892	$ 2,772,240	$ 2,785,646
Estimated fair value of long-term debt		$ 3,345,392	$ 3,443,225	$ 3,225,468


¹	Borrowings on the bank line of credit are classified as short-term if we intend to repay within twelve months and as long-term if we have the intent and ability to extend payment beyond twelve months.

Discounts and debt issuance costs are amortized using the effective interest method over the terms of the respective notes resulting in $11,380,000 and $3,126,000 of net interest expense for these items for the six months ended June 30, 2021 and 2020, respectively.

BRIDGE FACILITY, DELAYED DRAW TERM LOAN AND LINE OF CREDIT

In June 2021, concurrent with the announcement of the proposed acquisition of U.S. Concrete (see Note 16 for additional information), we obtained a $2,200,000,000 bridge facility commitment from Truist Bank. Later, in June 2021, we entered into a $1,600,000,000 delayed draw term loan facility with a subset of the banks that provide our line of credit. The bridge facility commitment was terminated as a condition to the execution of the delayed draw term loan facility. The delayed draw term loan may be drawn once upon the acquisition of U.S. Concrete and all borrowings are due three years from the funding

date. The delayed draw term loan contains covenants customary for an unsecured investment-grade facility and mirror those in our line of credit. As of June 30, 2021, we were in compliance with the delayed draw term loan covenants.

Financing costs for the bridge facility commitment and the delayed draw term loan facility totaled $13,316,000, $9,384,000 of which was recognized as interest expense in the current quarter. Borrowings on the delayed draw term loan bear interest, at our option, at either LIBOR plus a credit margin ranging from 0.875% to 1.375%, or Truist Bank’s base rate (generally, its prime rate) plus a credit margin ranging from 0.000% to 0.375%. We also pay a commitment fee on the delayed draw term loan until it is drawn that ranges from 0.090% to 0.225%. The credit margins and commitment fee are determined by our credit ratings. As of June 30, 2021, the credit margin for LIBOR borrowings was 1.000%, the credit margin for base rate borrowings was 0.000% and the commitment fee was 0.100%.

In September 2020, we executed a new five-year unsecured line of credit of $1,000,000,000, incurring $4,632,000 of deferred transaction costs. The line of credit contains covenants customary for an unsecured investment-grade facility. As of June 30, 2021, we were in compliance with the line of credit covenants.

Borrowings on the line of credit bear interest, at our option, at either LIBOR plus a credit margin ranging from 1.000% to 1.625%, or Truist Bank’s base rate (generally, its prime rate) plus a credit margin ranging from 0.000% to 0.625%. 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 0.090% to 0.225% determined by our credit ratings. As of June 30, 2021, the credit margin for LIBOR borrowings was 1.125%, the credit margin for base rate borrowings was 0.125%, and the commitment fee for the unused amount was 0.100%.

As of June 30, 2021, our available borrowing capacity under the line of credit was $942,715,000. Utilization of the borrowing capacity was as follows:

none was borrowed

$57,285,000 was used to provide support for outstanding standby letters of credit

TERM DEBT

All of our $2,857,458,000 (face value) of 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. As of June 30, 2021, we were in compliance with all term debt covenants.

In May 2020, we issued $750,000,000 of 3.50% senior notes due 2030. Total proceeds were $741,417,000 (net of discounts and transaction costs). $250,000,000 of the proceeds were used to retire the $250,000,000 floating rate notes due June 2020. The remainder of the proceeds, together with cash on hand, was used to retire the $500,000,000 floating rate notes due March 2021.

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 canceled with the approval of the beneficiary. All of our standby letters of credit are issued by banks that participate in our $1,000,000,000 line of credit, and reduce the borrowing capacity thereunder. Our standby letters of credit as of June 30, 2021 are summarized by purpose in the table below:



in thousands
Standby Letters of Credit
Risk management insurance	$ 48,982
Reclamation/restoration requirements	8,303
Total	$ 57,285

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2021

COMMITMENTS AND CONTINGENCIES

Note 8: Commitments and Contingencies

Certain of our aggregates reserves are burdened by volumetric production payments (nonoperating interest) as described in Note 4. As the holder of the working interest, we have responsibility to bear the cost of mining and producing the reserves attributable to this nonoperating interest.

As stated in Note 2, our lease liabilities totaled $487,962,000 as of June 30, 2021.

As summarized by purpose in Note 7, our standby letters of credit totaled $57,285,000 as of June 30, 2021.

As described in Note 9, our asset retirement obligations totaled $286,435,000 as of June 30, 2021.

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. Amounts accrued for environmental matters (measured on an undiscounted basis) are presented below:



	June 30	December 31	June 30
in thousands	2021	2020	2020
Accrued Environmental Remediation Costs
Continuing operations	$ 25,543	$ 25,544	$ 22,743
Retained from former Chemicals business	10,870	10,971	10,846
Total	$ 36,413	$ 36,515	$ 33,589

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 (DISCONTINUED OPERATIONS and 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, CPG) 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). The draft RI/FS was submitted recommending a targeted hot spot remedy; however, 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.

Efforts to investigate and 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 to include 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.

In August 2017, the EPA informed certain members of the CPG, 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 identified in the ROD. 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, including settlements related to future remediation actions. The final allocation recommendations, which are subject to confidentiality provisions, were submitted to the EPA for its review and consideration in late December 2020. Certain PRPs, including Vulcan, have since received a joint confidential settlement demand from the EPA/DOJ. The demand will be subject to further negotiation. If the PRPs who received the joint confidential settlement demand use the allocator’s recommendation as the basis to allocate the demand amongst themselves, Vulcan’s portion would be within the immaterial loss recorded for this matter in 2015.

In July 2018, Vulcan, along with more than one hundred other defendants, was sued by Occidental in United States District Court for the District of New Jersey, Newark Vicinage. Occidental is seeking cost recovery and contribution under CERCLA. It is unknown at this time how the proposed settlement with the EPA/DOJ would affect the Occidental lawsuit.

■ TEXAS BRINE MATTER (DISCONTINUED OPERATIONS) — During the operation of its former Chemicals Division, Vulcan secured the right to mine salt out of an underground salt dome formation in Assumption Parish, Louisiana from 1976 - 2005. Throughout that period, the Texas Brine Company (Texas Brine) was the operator contracted by Vulcan (and later Occidental Chemical Company (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 have been 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, but are not limited to, individual plaintiffs’ claims for property damage; a claim by the state of Louisiana for response costs and civil penalties; claims by Texas Brine for past and future response costs, lost profits and investment costs, indemnity payments, attorneys’ fees, other litigation costs and judicial interests; 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 or fraudulent 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 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.

A joint bench trial (judge only) began in September 2017 and ended in October 2017 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. 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 its wholly-owned subsidiary) and Vulcan 15%. This ruling was appealed by the parties in each of the pipeline cases. In December 2020, the Louisiana Court of Appeal, First Circuit issued its Notice of Judgment and Disposition in one of the pipeline cases reversing in part and amending the trial court judgment to reallocate 20% of the fault from Occidental to Texas Brine, with the result that 30% of the fault is now allocated to Occidental and 55% of the fault is now allocated to Texas Brine (and its wholly-owned subsidiary). The Court of Appeal affirmed the 15% fault allocation to Vulcan. The Court of Appeal made various other findings, including findings related to the arbitrability of certain claims between Occidental and Texas Brine. In March 2021, Texas Brine and Vulcan

each filed a writ application with the Louisiana Supreme Court seeking review of various portions of the lower court decision, including fault allocations. In May 2021, the Court of Appeal issued a ruling in one of the other two pipeline cases, assigning the same allocation of fault between the parties. On June 8, 2021, the Louisiana Supreme Court denied the parties’ March 2021 writ applications in one of the three pipeline cases. Appeal and writ proceedings remain ongoing in connection with all three pipeline cases.

We have settled claims by all plaintiffs except in two outstanding cases, and our insurers to date have funded these settlements in excess of our self-insured retention amount. The remaining claims involve Texas Brine and the State of Louisiana. Discovery remains ongoing and we cannot reasonably estimate a range of liability pertaining to these open cases at this time.

■ NEW YORK WATER DISTRICT CASES (DISCONTINUED OPERATIONS) — During the operation of our former Chemicals Division, which was divested to Occidental in 2005, Vulcan manufactured a chlorinated solvent known as 1,1,1-trichloroethane. We are a defendant in 27 cases allegedly involving 1,1,1-trichloroethane. All of the cases are filed in the United States District Court for the Eastern District of New York. According to the various complaints, the plaintiffs are public drinking water providers who serve customers in seven New York counties (Nassau, Orange, Putnam, Sullivan, Ulster, Washington and Westchester). It is alleged that our 1,1,1-trichloroethane was stabilized with 1,4-dioxane and that various water wells of the plaintiffs are contaminated with 1,4-dioxane. The plaintiffs are seeking unspecified compensatory and punitive damages. We will vigorously defend the cases. At this time we cannot determine the likelihood or reasonably estimate a range of loss, if any, pertaining to the cases.

■ HEWITT LANDFILL MATTER (SUPERFUND SITE) — In September 2015, the Los Angeles Regional Water Quality Control Board (RWQCB) issued a Cleanup and Abatement Order 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.

Following an onsite and offsite investigation and pilot scale testing, the RWQCB approved a corrective action that includes leachate recovery, storm water capture and conveyance improvements, and a groundwater pump, treat and reinjection system. Certain on-site source control measures have been implemented and the new treatment system is fully operational. Currently-anticipated costs of these on-site source control activities have been fully accrued.

We are also engaged in an ongoing dialogue with the EPA, Honeywell, and the Los Angeles Department of Water and Power (LADWP) 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.

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 Landfill to protect the North Hollywood West (NHW) well field located within the NHOU. In November 2017, we submitted a Pre-Design Investigation (PDI) Work Plan to the EPA, which sets forth the activities and schedule for collection of data in support of our evaluation of the need for an offsite remedy. In addition, this evaluation was expanded as part of the PDI to include the evaluation of a remedy in light of a new project by LADWP at the Rinaldi-Toluca (RT) wellfield. PDI investigative activities were completed between the first and third quarters of 2018, and in December 2018 we submitted a Draft PDI Evaluation Report to the EPA. The PDI Evaluation Report summarizes data collection activities conducted pursuant to the Draft PDI Work Plan and provides model updates and evaluation of remediation alternatives for offsite areas. The EPA provided an initial set of comments on the Draft PDI Evaluation Report in May 2019 and a final set of comments in October 2020. The final set of comments includes a request for Vulcan to revise and develop a final PDI Evaluation Report. The final comments further provide, if Vulcan agrees, a proposal for an alternative approach for offsite remediation (as opposed to installation of offsite extraction wells) and development of a Supplemental PDI Evaluation Report that would require the EPA to modify the remedy in the 2009 ROD as it relates to the Hewitt Landfill. In December 2020, Vulcan submitted the Final PDI Evaluation Report, which includes edits to the Draft PDI Evaluation Report and responses to the EPA’s comments. Until the EPA’s review and approval of the Final PDI Evaluation Report and any Supplemental PDI Evaluation Report on remedial alternative(s) is complete and an effective remedy has been selected by the EPA or agreed upon, we cannot identify an appropriate remedial action that will be required under the AOC. Given the various stakeholders involved and the uncertainties relating to remediation alternatives, we cannot reasonably estimate a loss pertaining to Vulcan’s responsibility for future remedial action required by the EPA.

In December 2019, Honeywell agreed with LADWP to build a water treatment system (often referred to as the Cooperative Containment Concept or CCC or the second interim remedy) that will provide treated groundwater in the NHOU to LADWP for public water supply purposes. Honeywell contends that some of the contamination to be remediated by the system it will build originated from the Hewitt Landfill, and that Vulcan should fund some portion of the costs that Honeywell has incurred and will incur in developing the second interim remedy. During the third quarter 2020, Vulcan recorded an immaterial accrual related to Honeywell’s contribution claim for certain types of cost incurred. We are also 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. At this time, we cannot reasonably estimate a range of an additional loss to Vulcan pertaining to this contribution claim.

Further, LADWP has announced plans to install new treatment capabilities at two city wellfields located near the Hewitt Landfill — the NHW wellfield and the RT wellfield. LADWP has alleged that the Hewitt Landfill is one of the primary PRPs for the contamination at the NHW wellfield and is one of many PRPs for the contamination at the RT wellfield. 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, consistent with the parallel request by the EPA. This work is also intended to assist in identification of other PRPs that may have contributed to groundwater contamination in the area. Vulcan is also seeking access to LADWP’s list of PRPs. At this time, we cannot reasonably estimate a range of a loss to Vulcan pertaining to this contribution claim.

■ NAFTA ARBITRATION — In September 2018, our subsidiary Legacy Vulcan, LLC (Legacy Vulcan), on its own behalf, and on behalf of our Mexican subsidiary Calizas Industriales del Carmen, S.A. de C.V. (Calica), served the United Mexican States (Mexico) a Notice of Intent to Submit a Claim to Arbitration under Chapter 11 of the North American Free Trade Agreement (NAFTA). Our NAFTA claim relates to the treatment of a portion of our quarrying operations in Playa del Carmen (Cancun), Mexico, arising from, among other measures, Mexico’s failure to comply with a legally binding zoning agreement and relates to other unfair, arbitrary and capricious actions by Mexico’s environmental enforcement agency. We assert that these actions are in breach of Mexico’s international obligations under NAFTA and international law.

As required by Article 1118 of NAFTA, we sought to settle this dispute with Mexico through consultations. Notwithstanding our good faith efforts to resolve the dispute amicably, we were unable to do so and filed a Request for Arbitration, which we filed with the International Centre for Settlement of Investment Disputes (ICSID) in December 2018. In January 2019, ICSID registered our Request for Arbitration.

We expect that the NAFTA arbitration will be concluded in the second half of 2022. At this time, there can be no assurance whether we will be successful in our NAFTA claim, and we cannot quantify the amount we may recover, if any, under this arbitration proceeding if we were successful.

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

6 Months Ended

Jun. 30, 2021

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, including legal obligations for land reclamation at both owned properties and mineral leases. 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.

ARO operating costs related to accretion of the liabilities and depreciation of the assets are as follows:



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
ARO Operating Costs
Accretion	$ 3,259	$ 3,247	$ 6,455	$ 6,155
Depreciation	2,664	2,063	5,325	3,899
Total	$ 5,923	$ 5,310	$ 11,780	$ 10,054

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		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Asset Retirement Obligations
Balance at beginning of period	$ 285,401	$ 263,445	$ 283,163	$ 210,323
Liabilities incurred	0	0	938	0
Liabilities settled	(2,260)	(3,354)	(4,953)	(8,588)
Accretion expense	3,259	3,247	6,455	6,155
Revisions, net	35	410	832	55,858
Balance at end of period	$ 286,435	$ 263,748	$ 286,435	$ 263,748

ARO revisions during the first six months of 2020 primarily include increases in estimated costs at two aggregates locations, including reclamation activities required under a development agreement at an aggregates site on owned property in Southern California. The reclamation required under the development agreement will result in the restoration of previously mined property to conditions suitable for retail and commercial development.

BENEFIT PLANS

6 Months Ended

Jun. 30, 2021

BENEFIT PLANS [Abstract]

BENEFIT PLANS

Note 10: Benefit Plans

PENSION PLANS

We sponsor two qualified, noncontributory defined benefit pension plans, the Vulcan Materials Company Pension Plan (VMC Pension Plan) and the CMG Hourly Pension Plan (CMG Pension Plan). The VMC Pension Plan has been closed to new entrants since 2007 and benefit accruals, based on salaries or wages and years of service, ceased in 2005 for hourly participants and 2013 for salaried participants. The CMG Pension Plan is closed to new entrants other than through one small union and benefits continue to accrue equal to a flat dollar amount for each year of service. In addition to these qualified plans, we sponsor three unfunded, nonqualified pension plans.

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



PENSION BENEFITS	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Components of Net Periodic Benefit Cost
Service cost	$ 1,194	$ 1,331	$ 2,387	$ 2,662
Interest cost	4,880	7,531	9,759	15,062
Expected return on plan assets	(11,375)	(12,485)	(22,750)	(24,969)
Amortization of prior service cost	336	335	673	670
Amortization of actuarial loss	2,179	3,140	4,357	6,279
Net periodic pension benefit credit	$ (2,786)	$ (148)	$ (5,574)	$ (296)
Pretax reclassifications from AOCI included in
net periodic pension benefit cost	$ 2,515	$ 3,475	$ 5,030	$ 6,949

The contributions to pension plans for the six months ended June 30, 2021 and 2020, as reflected on the Condensed Consolidated Statements of Cash Flows, pertain to benefit payments under nonqualified plans for both periods.

POSTRETIREMENT PLANS

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		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Components of Net Periodic Benefit Cost
Service cost	$ 265	$ 380	$ 530	$ 760
Interest cost	106	242	212	485
Amortization of prior service credit	(477)	(980)	(953)	(1,959)
Amortization of actuarial gain	(367)	(201)	(734)	(403)
Net periodic postretirement benefit credit	$ (473)	$ (559)	$ (945)	$ (1,117)
Pretax reclassifications from AOCI included in
net periodic postretirement benefit credit	$ (844)	$ (1,181)	$ (1,687)	$ (2,362)

DEFINED CONTRIBUTION PLANS

In addition to our pension and postretirement plans, we sponsor two defined contribution plans. Substantially all salaried and nonunion hourly employees are eligible to be covered by one of these plans. Under these plans, we match employees’ eligible contributions at established rates. Expense recognized in connection with these matching obligations totaled $12,885,000 and $12,810,000 for the three months ended June 30, 2021 and 2020, respectively, and totaled $35,022,000 and $23,867,000 for the six months ended June 30, 2021 and 2020, respectively.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

OTHER COMPREHENSIVE INCOME [Abstract]

OTHER COMPREHENSIVE INCOME

6 Months Ended

Jun. 30, 2021

OTHER COMPREHENSIVE INCOME

Note 11: other Comprehensive Income

Comprehensive income comprises two subsets: net earnings and other comprehensive income (OCI). The components of OCI 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:



	June 30	December 31	June 30
in thousands	2021	2020	2020
AOCI
Interest rate hedges	$ (23,227)	$ (23,943)	$ (24,644)
Pension and postretirement plans	(154,892)	(157,362)	(183,395)
Total	$ (178,119)	$ (181,305)	$ (208,039)

Changes in AOCI, net of tax, for the six months ended June 30, 2021 are as follows:



		Pension and
	Interest Rate	Postretirement
in thousands	Hedges	Benefit Plans	Total
AOCI
Balances as of December 31, 2020	$ (23,943)	$ (157,362)	$ (181,305)
Amounts reclassified from AOCI	716	2,470	3,186
Net current period OCI changes	716	2,470	3,186
Balances as of June 30, 2021	$ (23,227)	$ (154,892)	$ (178,119)

Amounts reclassified from AOCI to earnings, are as follows:



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Amortization of Interest Rate Hedge Losses
Interest expense	$ 487	$ 263	$ 969	$ 1,337
Benefit from income taxes	(127)	(69)	(253)	(349)
Total	$ 360	$ 194	$ 716	$ 988
Amortization of Pension and Postretirement
Plan Actuarial Loss and Prior Service Cost
Other nonoperating expense	$ 1,671	$ 2,294	$ 3,343	$ 4,587
Benefit from income taxes	(436)	(599)	(873)	(1,197)
Total	$ 1,235	$ 1,695	$ 2,470	$ 3,390
Total reclassifications from AOCI to earnings	$ 1,595	$ 1,889	$ 3,186	$ 4,378

EQUITY

6 Months Ended

Jun. 30, 2021

EQUITY [Abstract]

EQUITY

Note 12: Equity

Our capital stock consists solely of common stock, par value $1.00 per share, of which 480,000,000 shares may be issued. Holders of our common stock are entitled to one vote per share. We may also issue 5,000,000 shares of preferred stock, but no shares have been issued. The terms and provisions of such shares will be determined by our Board of Directors upon any issuance of preferred shares in accordance with our Certificate of Incorporation.

There were no shares held in treasury as of June 30, 2021, December 31, 2020 and June 30, 2020.

Our common stock purchases (all of which were open market purchases) and subsequent retirements for the year-to-date periods ended are as follows:



	June 30	December 31	June 30
in thousands, except average cost	2021	2020	2020
Shares Purchased and Retired
Number	0	214	214
Total purchase price	$ 0	$ 26,132	$ 26,132
Average cost per share	$ 0.00	$ 121.92	$ 121.92

As of June 30, 2021, 8,064,851 shares may be purchased under the current authorization of our Board of Directors.

Changes in total equity are summarized below:



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands, except per share data	2021	2020	2021	2020
Total Equity
Balance at beginning of period	$ 6,136,241	$ 5,590,326	$ 6,027,330	$ 5,621,857
Net earnings	195,344	209,916	355,958	270,174
Common stock issued
Share-based compensation plans, net of shares
withheld for taxes	(798)	(1,456)	(12,876)	(16,539)
Purchase and retirement of common stock	0	0	0	(26,132)
Share-based compensation expense	9,819	8,504	17,688	15,220
Cash dividends on common stock
($0.37/$0.34/$0.74/$0.68 per share, respectively)	(49,088)	(45,028)	(98,173)	(90,128)
Other comprehensive income (expense)	1,595	1,889	3,186	(10,301)
Balance at end of period	$ 6,293,113	$ 5,764,151	$ 6,293,113	$ 5,764,151

SEGMENT REPORTING

6 Months Ended

Jun. 30, 2021

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 and are excluded from total revenues. Management reviews earnings from the product line reporting segments principally at the gross profit level.

segment financial disclosure



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Total Revenues
Aggregates ¹	$ 1,125,367	$ 1,070,596	$ 2,020,276	$ 1,938,822
Asphalt ²	212,577	222,950	359,744	362,739
Concrete	96,201	100,683	177,560	195,448
Calcium	1,960	1,889	4,020	3,915
Segment sales	$ 1,436,105	$ 1,396,118	$ 2,561,600	$ 2,500,924
Aggregates intersegment sales	(75,058)	(73,543)	(132,209)	(129,107)
Total revenues	$ 1,361,047	$ 1,322,575	$ 2,429,391	$ 2,371,817
Gross Profit
Aggregates	$ 373,833	$ 351,162	$ 597,471	$ 545,293
Asphalt	13,532	30,464	10,541	28,029
Concrete	10,293	14,227	18,061	23,440
Calcium	706	666	1,558	1,480
Total	$ 398,364	$ 396,519	$ 627,631	$ 598,242
Depreciation, Depletion, Accretion
and Amortization (DDA&A)
Aggregates	$ 84,328	$ 80,747	$ 165,136	$ 157,883
Asphalt	9,060	8,668	18,155	17,402
Concrete	4,026	4,001	7,978	8,083
Calcium	39	48	78	97
Other	5,654	6,006	12,128	11,486
Total	$ 103,107	$ 99,470	$ 203,475	$ 194,951
Identifiable Assets ³
Aggregates			$ 9,492,913	$ 9,545,787
Asphalt			579,151	583,902
Concrete			314,166	321,304
Calcium			3,527	3,718
Total identifiable assets			$ 10,389,757	$ 10,454,711
General corporate assets			212,864	126,814
Cash and cash equivalents and restricted cash			968,406	817,199
Total assets			$ 11,571,027	$ 11,398,724


¹	Includes product sales (crushed stone, sand and gravel, sand, and other aggregates), as well as freight & delivery costs that we pass along to our customers, and service revenues (see Note 4) related to aggregates.
²	Includes product sales, as well as service revenues (see Note 4) from our asphalt construction paving business.
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.

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

SUPPLEMENTAL CASH FLOW INFORMATION [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

6 Months Ended

Jun. 30, 2021

SUPPLEMENTAL CASH FLOW INFORMATION

Note 14: Supplemental Cash Flow Information

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



	Six Months Ended
	June 30
in thousands	2021	2020
Cash Payments
Interest (exclusive of amount capitalized)	$ 65,195	$ 60,741
Income taxes	87,416	9,055
Noncash Investing and Financing Activities
Accrued liabilities for purchases of property, plant & equipment	$ 27,018	$ 10,994
Recognition of new and revised asset retirement obligations	1,770	55,858
Recognition of new and revised right-of-use assets for
Operating lease liabilities ¹	56,974	25,083
Finance lease liabilities	3,265	4,991
Amounts referable to business acquisitions
Liabilities assumed	0	5,637
Consideration payable to seller	0	8,980
Fair value of noncash assets and liabilities exchanged	0	21,214


¹	The 2021 amount includes a modification to our headquarters office space lease to extend the lease term.

GOODWILL

6 Months Ended

Jun. 30, 2021

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 six month periods ended June 30, 2021 and 2020. Accumulated goodwill impairment losses amount to $252,664,000 (year 2008) 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, 2020 to June 30, 2021 are shown below:



in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Goodwill
Totals at December 31, 2020	$ 3,080,479	$ 91,633	$ 0	$ 0	$ 3,172,112
Totals at June 30, 2021	$ 3,080,479	$ 91,633	$ 0	$ 0	$ 3,172,112

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

6 Months Ended

Jun. 30, 2021

ACQUISITIONS AND DIVESTITURES [Abstract]

ACQUISITIONS AND DIVESTITURES

Note 16: Acquisitions and Divestitures

BUSINESS ACQUISITIONS AND PROPOSED ACQUISITION

During the second quarter of 2021, we announced the proposed acquisition of U.S. Concrete, Inc. (NASDAQ: USCR), a leading supplier of aggregates and ready-mixed concrete for a purchase price of $74.00 per common share in cash, representing a total equity value of $1.294 billion. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in the second half of 2021, subject to U.S. Concrete shareholder approval, regulatory clearance and other customary closing conditions.

2021 BUSINESS ACQUISITIONS — Through the six months ended June 30, 2021, we completed no business acquisitions.

2020 BUSINESS ACQUISITIONS — For the full year 2020, we purchased the following operations, for total consideration of $73,416,000 ($43,223,000 cash and $30,193,000 noncash):

business to support our aggregates operations across most of our footprint

Texas — asphalt mix and recycle operations

The 2020 acquisitions listed above are reported in our consolidated financial statements as of their respective acquisition dates. None of these acquisitions were material to our results of operations or financial position either individually or collectively.

As a result of the 2020 acquisitions, we recognized $65,545,000 of amortizable intangible assets and $5,051,000 of goodwill. The amortizable intangible assets will be amortized against earnings ($65,545,000 - straight-line basis over a weighted-average 20.0 years) and $25,712,000 will be deductible for income tax purposes over 15 years. The goodwill represents the balance of deferred tax liabilities generated from carrying over the seller’s tax basis in the assets acquired and is not deductible for income tax purposes.

DIVESTITURES AND PENDING DIVESTITURES

In 2021, we sold:

First quarter — a reclaimed quarry in Southern California resulting in a pretax gain of $114,695,000 (net of a $12,900,000 contingency and other directly related obligations)

In 2020, we sold:

Fourth quarter — a Virginia ready-mix concrete business, resulting in an immaterial loss. We retained all real property which is being leased to the buyer and obtained a 20-year aggregates supply agreement

Second quarter — our New Mexico ready-mix concrete business, resulting in an immaterial gain. We retained the concrete plants and mobile fleet and are leasing these assets to the buyer. Additionally, we obtained a 20-year aggregates supply agreement

No material assets met the criteria for held for sale at June 30, 2021, December 31, 2020 or June 30, 2020.

NEW ACCOUNTING STANDARDS

6 Months Ended

Jun. 30, 2021

NEW ACCOUNTING STANDARDS [Abstract]

NEW ACCOUNTING STANDARDS

Note 17: New Accounting Standards

ACCOUNTING STANDARDS RECENTLY ADOPTED

InCOME tAXES During the first quarter of 2021, we adopted Accounting Standards Update (ASU) 2019-12, “Simplifying the Accounting for Income Taxes,” which added new guidance to simplify the accounting for income taxes and changed the accounting for certain income tax transactions. The adoption of this standard did not materially impact our consolidated financial statements.

CONVERTIBLE INSTRUMENTS During the first quarter of 2021, we adopted ASU 2020-06, “Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.” This ASU reduced the number of models used to account for convertible instruments and modified the diluted earnings per share calculations for convertible instruments. This ASU also amended the accounting for certain contracts in an entity’s own equity that are currently accounted for as derivatives. The adoption of this standard did not materially impact our consolidated financial statements.

ACCOUNTING STANDARDS PENDING ADOPTION

None

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (g)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI http://asc.fasb.org/topic&trid=2122394

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=112272810&loc=SL108384541-122693

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (j)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-URI http://asc.fasb.org/extlink&oid=112272810&loc=d3e31137-122693

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(1)

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(2)

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(3)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2021

NATURE OF OPERATIONS

Vulcan Materials Company (the “Company,” “Vulcan,” “we,” “our”), a New Jersey corporation, is one of the nation’s largest suppliers 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. 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, Arizona, California, Maryland, New Mexico, Tennessee, Texas, Virginia and Washington D.C. 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 (GAAP) for complete financial statements. We prepared the accompanying condensed consolidated financial statements on the same basis as our annual financial statements, except for the adoption of new accounting standards as described in Note 17. Our Condensed Consolidated Balance Sheet as of December 31, 2020 was derived from the audited financial statement, but it does not include all disclosures required by GAAP. 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. For further information, refer to the consolidated financial statements and footnotes included in our most recent Annual Report on Form 10-K. Operating results for the three and six month periods ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021, particularly in light of the uncertainty over the economic and operational impacts of the current novel coronavirus (COVID-19) pandemic as construction activity continues to be impacted by capacity constraints (supply chain bottlenecks, labor shortages and transportation availability) and cost inflation.

Our condensed consolidated financial statements reflect estimates and assumptions made by management that affect the reported amounts of assets, liabilities, revenues and expenses. Such estimates and assumptions affect, among other things, our goodwill and long-lived asset valuations; inventory valuation; assessment of the annual effective tax rate; valuation of deferred income taxes; allowance for doubtful accounts; measurement of cash bonus plans; and pension plan assumptions. Events and changes in circumstances arising after June 30, 2021, including those resulting from the impacts of COVID-19, will be reflected in management’s estimates for future periods.

Due to the 2005 sale of our Chemicals business as described within this Note under the caption Discontinued Operations, the results of the Chemicals business are presented as discontinued operations in the accompanying Condensed Consolidated Statements of Comprehensive Income.

RESTRICTED CASH

Restricted cash primarily consists of cash proceeds from the sale of property held in escrow for the acquisition of replacement property under like-kind exchange agreements. 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 may also include 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. Restricted cash is included with cash and cash equivalents in the accompanying Condensed Consolidated Statements of Cash Flows.

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. Results from discontinued operations are as follows:



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Discontinued Operations
Pretax loss	$ (1,935)	$ (1,412)	$ (3,358)	$ (1,058)
Income tax benefit	499	371	867	277
Loss on discontinued operations,
net of tax	$ (1,436)	$ (1,041)	$ (2,491)	$ (781)

Our discontinued operations include charges/credits related to general and product liability costs, including legal defense costs, and environmental remediation costs associated with our former Chemicals business (including certain matters as discussed in Note 8). There were no revenues from discontinued operations for the periods presented.

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		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Weighted-average common shares
outstanding	132,781	132,552	132,765	132,560
Dilutive effect of
Stock-Only Stock Appreciation Rights	318	271	309	307
Other stock compensation plans	408	292	381	287
Weighted-average common shares
outstanding, assuming dilution	133,507	133,115	133,455	133,154

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		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Antidilutive common stock equivalents	67	296	67	275

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Results from Discontinued Operations



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Discontinued Operations
Pretax loss	$ (1,935)	$ (1,412)	$ (3,358)	$ (1,058)
Income tax benefit	499	371	867	277
Loss on discontinued operations,
net of tax	$ (1,436)	$ (1,041)	$ (2,491)	$ (781)

Weighted-Average Common Shares Outstanding Assuming Dilution



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Weighted-average common shares
outstanding	132,781	132,552	132,765	132,560
Dilutive effect of
Stock-Only Stock Appreciation Rights	318	271	309	307
Other stock compensation plans	408	292	381	287
Weighted-average common shares
outstanding, assuming dilution	133,507	133,115	133,455	133,154

Antidilutive Common Stock Equivalents



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Antidilutive common stock equivalents	67	296	67	275

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.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

Schedule of Lease Assets and Liabilities, Weighted-Average Lease Term and Discount Rate

LEASES (Tables)

6 Months Ended

Jun. 30, 2021

LEASES [Abstract]



		June 30	December 31	June 30
in thousands	Classification on the Balance Sheet	2021	2020	2020
Assets
Operating lease ROU assets		$ 530,760	$ 482,513	$ 472,003
Accumulated amortization		(65,995)	(59,385)	(45,385)
Operating leases, net	Operating lease right-of-use assets, net	464,765	423,128	426,618
Finance lease assets		11,061	7,796	6,223
Accumulated amortization		(2,970)	(1,640)	(737)
Finance leases, net	Property, plant & equipment, net	8,091	6,156	5,486
Total lease assets		$ 472,856	$ 429,284	$ 432,104
Liabilities
Current
Operating	Other current liabilities	$ 36,694	$ 36,969	$ 32,645
Finance	Other current liabilities	2,815	2,047	1,695
Noncurrent
Operating	Noncurrent operating lease liabilities	443,128	399,582	405,578
Finance	Other noncurrent liabilities	5,325	4,139	3,807
Total lease liabilities		$ 487,962	$ 442,737	$ 443,725
Lease Term and Discount Rate
Weighted-average remaining lease term (years)
Operating leases		9.1	9.5	10.4
Finance leases		3.8	4.2	4.4
Weighted-average discount rate
Operating leases		3.3%	3.6%	4.1%
Finance leases		1.3%	1.4%	1.5%

Components of Lease Expense



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Lease Cost
Finance lease cost
Amortization of right-of-use assets	$ 699	$ 369	$ 1,330	$ 673
Interest on lease liabilities	30	25	60	47
Operating lease cost	15,517	14,234	30,809	28,340
Short-term lease cost ¹	5,345	7,676	10,447	16,721
Variable lease cost	2,779	3,773	5,470	6,905
Sublease income	(834)	(721)	(1,657)	(1,456)
Total lease cost	$ 23,536	$ 25,356	$ 46,459	$ 51,230


¹	Our short-term lease cost includes the cost of leases with an initial term of one month or less.

REVENUES (Tables)

6 Months Ended

Jun. 30, 2021

REVENUES [Abstract]

Revenues by Geographic Market



	Three Months Ended June 30, 2021
in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Total Revenues by Geographic Market ¹
East	$ 354,415	$ 42,797	$ 66,265	$ 0	$ 463,477
Gulf Coast	607,514	46,075	18,618	1,960	674,167
West	163,438	123,705	11,318	0	298,461
Segment sales	$ 1,125,367	$ 212,577	$ 96,201	$ 1,960	$ 1,436,105
Intersegment sales	(75,058)	0	0	0	(75,058)
Total revenues	$ 1,050,309	$ 212,577	$ 96,201	$ 1,960	$ 1,361,047



	Three Months Ended June 30, 2020
in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Total Revenues by Geographic Market ¹
East	$ 350,238	$ 37,956	$ 71,653	$ 0	$ 459,847
Gulf Coast	567,811	50,503	17,946	1,889	638,149
West	152,547	134,491	11,084	0	298,122
Segment sales	$ 1,070,596	$ 222,950	$ 100,683	$ 1,889	$ 1,396,118
Intersegment sales	(73,543)	0	0	0	(73,543)
Total revenues	$ 997,053	$ 222,950	$ 100,683	$ 1,889	$ 1,322,575



	Six Months Ended June 30, 2021
in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Total Revenues by Geographic Market ¹
East	$ 597,766	$ 60,197	$ 121,354	$ 0	$ 779,317
Gulf Coast	1,126,368	87,488	36,026	4,020	1,253,902
West	296,142	212,059	20,180	0	528,381
Segment sales	$ 2,020,276	$ 359,744	$ 177,560	$ 4,020	$ 2,561,600
Intersegment sales	(132,209)	0	0	0	(132,209)
Total revenues	$ 1,888,067	$ 359,744	$ 177,560	$ 4,020	$ 2,429,391



	Six Months Ended June 30, 2020
in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Total Revenues by Geographic Market ¹
East	$ 590,106	$ 55,839	$ 133,772	$ 0	$ 779,717
Gulf Coast	1,061,107	84,358	34,911	3,915	1,184,291
West	287,609	222,542	26,765	0	536,916
Segment sales	$ 1,938,822	$ 362,739	$ 195,448	$ 3,915	$ 2,500,924
Intersegment sales	(129,107)	0	0	0	(129,107)
Total revenues	$ 1,809,715	$ 362,739	$ 195,448	$ 3,915	$ 2,371,817

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 and Texas

West market — Arizona, California and New Mexico

Freight & Delivery Revenues



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Freight & Delivery Revenues
Total revenues	$ 1,361,047	$ 1,322,575	$ 2,429,391	$ 2,371,817
Freight & delivery revenues ¹	(195,060)	(202,855)	(358,468)	(379,223)
Total revenues excluding freight & delivery	$ 1,165,987	$ 1,119,720	$ 2,070,923	$ 1,992,594


¹	Includes freight & delivery to remote distribution sites.

Reconciliation of Deferred Revenue Balances



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Deferred Revenue
Balance at beginning of period	$ 176,293	$ 183,997	$ 177,962	$ 185,339
Revenue recognized from deferred revenue	(2,217)	(2,034)	(3,886)	(3,376)
Balance at end of period	$ 174,076	$ 181,963	$ 174,076	$ 181,963

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2021

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value Measurement on Recurring Basis



	Level 1 Fair Value
	June 30	December 31	June 30
in thousands	2021	2020	2020
Fair Value Recurring
Rabbi Trust
Mutual funds	$ 31,190	$ 28,058	$ 21,994
Total	$ 31,190	$ 28,058	$ 21,994



	Level 2 Fair Value
	June 30	December 31	June 30
in thousands	2021	2020	2020
Fair Value Recurring
Rabbi Trust
Money market mutual fund	$ 1,249	$ 837	$ 1,738
Total	$ 1,249	$ 837	$ 1,738

DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2021

DERIVATIVE INSTRUMENTS [Abstract]

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



		Three Months Ended		Six Months Ended
	Location on	June 30		June 30
in thousands	Statement	2021	2020	2021	2020
Interest Rate Hedges
Loss reclassified from AOCI	Interest
(effective portion)	expense	$ (487)	$ (263)	$ (969)	$ (1,337)

DEBT (Tables)

6 Months Ended

Jun. 30, 2021

DEBT [Abstract]

Debt



	Effective	June 30	December 31	June 30
in thousands	Interest Rates	2021	2020	2020
Short-term Debt
Bank line of credit expires 2025 ¹		$ 0	$ 0	$ 0
Total short-term debt		$ 0	$ 0	$ 0
Long-term Debt
Delayed draw term loan expires 2024		$ 0	$ 0	$ 0
Bank line of credit expires 2025 ¹		0	0	0
Floating-rate notes due 2021		0	500,000	500,000
8.85% notes due 2021	8.88%	6,000	6,000	6,000
4.50% notes due 2025	4.65%	400,000	400,000	400,000
3.90% notes due 2027	4.00%	400,000	400,000	400,000
3.50% notes due 2030	3.94%	750,000	750,000	750,000
7.15% notes due 2037	8.05%	129,239	129,239	129,239
4.50% notes due 2047	4.59%	700,000	700,000	700,000
4.70% notes due 2048	5.42%	460,949	460,949	460,949
Other notes	0.88%	11,270	11,711	9,153
Total long-term debt - face value		$ 2,857,458	$ 3,357,899	$ 3,355,341
Unamortized discounts and debt issuance costs		(72,130)	(70,224)	(69,669)
Total long-term debt - book value		$ 2,785,328	$ 3,287,675	$ 3,285,672
Less current maturities		15,436	515,435	500,026
Total long-term debt - reported value		$ 2,769,892	$ 2,772,240	$ 2,785,646
Estimated fair value of long-term debt		$ 3,345,392	$ 3,443,225	$ 3,225,468


¹	Borrowings on the bank line of credit are classified as short-term if we intend to repay within twelve months and as long-term if we have the intent and ability to extend payment beyond twelve months.

Standby Letters of Credit



in thousands
Standby Letters of Credit
Risk management insurance	$ 48,982
Reclamation/restoration requirements	8,303
Total	$ 57,285

COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2021

COMMITMENTS AND CONTINGENCIES [Abstract]

Accrued Environmental Remediation Costs



	June 30	December 31	June 30
in thousands	2021	2020	2020
Accrued Environmental Remediation Costs
Continuing operations	$ 25,543	$ 25,544	$ 22,743
Retained from former Chemicals business	10,870	10,971	10,846
Total	$ 36,413	$ 36,515	$ 33,589

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14472-108349

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14326-108349

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14453-108349

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14615-108349

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12021-110248

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14394-108349

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14435-108349

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14557-108349

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12053-110248

ASSET RETIREMENT OBLIGATIONS [Abstract]

ASSET RETIREMENT OBLIGATIONS (Tables)

6 Months Ended

Jun. 30, 2021

Asset Retirement Obligations Operating Costs



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
ARO Operating Costs
Accretion	$ 3,259	$ 3,247	$ 6,455	$ 6,155
Depreciation	2,664	2,063	5,325	3,899
Total	$ 5,923	$ 5,310	$ 11,780	$ 10,054

Reconciliations of Asset Retirement Obligations



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Asset Retirement Obligations
Balance at beginning of period	$ 285,401	$ 263,445	$ 283,163	$ 210,323
Liabilities incurred	0	0	938	0
Liabilities settled	(2,260)	(3,354)	(4,953)	(8,588)
Accretion expense	3,259	3,247	6,455	6,155
Revisions, net	35	410	832	55,858
Balance at end of period	$ 286,435	$ 263,748	$ 286,435	$ 263,748

BENEFIT PLANS (Tables)

6 Months Ended

Jun. 30, 2021

Pension Plans, Defined Benefit [Member]

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Benefit Cost



PENSION BENEFITS	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Components of Net Periodic Benefit Cost
Service cost	$ 1,194	$ 1,331	$ 2,387	$ 2,662
Interest cost	4,880	7,531	9,759	15,062
Expected return on plan assets	(11,375)	(12,485)	(22,750)	(24,969)
Amortization of prior service cost	336	335	673	670
Amortization of actuarial loss	2,179	3,140	4,357	6,279
Net periodic pension benefit credit	$ (2,786)	$ (148)	$ (5,574)	$ (296)
Pretax reclassifications from AOCI included in
net periodic pension benefit cost	$ 2,515	$ 3,475	$ 5,030	$ 6,949

Other Postretirement Benefit Plans, Defined Benefit [Member]

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Benefit Cost



OTHER POSTRETIREMENT BENEFITS	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Components of Net Periodic Benefit Cost
Service cost	$ 265	$ 380	$ 530	$ 760
Interest cost	106	242	212	485
Amortization of prior service credit	(477)	(980)	(953)	(1,959)
Amortization of actuarial gain	(367)	(201)	(734)	(403)
Net periodic postretirement benefit credit	$ (473)	$ (559)	$ (945)	$ (1,117)
Pretax reclassifications from AOCI included in
net periodic postretirement benefit credit	$ (844)	$ (1,181)	$ (1,687)	$ (2,362)

OTHER COMPREHENSIVE INCOME (Tables)

6 Months Ended

Jun. 30, 2021

OTHER COMPREHENSIVE INCOME [Abstract]

Accumulated Other Comprehensive Income, Net of Tax



	June 30	December 31	June 30
in thousands	2021	2020	2020
AOCI
Interest rate hedges	$ (23,227)	$ (23,943)	$ (24,644)
Pension and postretirement plans	(154,892)	(157,362)	(183,395)
Total	$ (178,119)	$ (181,305)	$ (208,039)

Changes in Accumulated Other Comprehensive Income, Net of Tax



		Pension and
	Interest Rate	Postretirement
in thousands	Hedges	Benefit Plans	Total
AOCI
Balances as of December 31, 2020	$ (23,943)	$ (157,362)	$ (181,305)
Amounts reclassified from AOCI	716	2,470	3,186
Net current period OCI changes	716	2,470	3,186
Balances as of June 30, 2021	$ (23,227)	$ (154,892)	$ (178,119)

Amounts Reclassified from Accumulated Other Comprehensive Income to Earnings



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Amortization of Interest Rate Hedge Losses
Interest expense	$ 487	$ 263	$ 969	$ 1,337
Benefit from income taxes	(127)	(69)	(253)	(349)
Total	$ 360	$ 194	$ 716	$ 988
Amortization of Pension and Postretirement
Plan Actuarial Loss and Prior Service Cost
Other nonoperating expense	$ 1,671	$ 2,294	$ 3,343	$ 4,587
Benefit from income taxes	(436)	(599)	(873)	(1,197)
Total	$ 1,235	$ 1,695	$ 2,470	$ 3,390
Total reclassifications from AOCI to earnings	$ 1,595	$ 1,889	$ 3,186	$ 4,378

EQUITY (Tables)

6 Months Ended

Jun. 30, 2021

EQUITY [Abstract]

Shares Purchased and Retired



	June 30	December 31	June 30
in thousands, except average cost	2021	2020	2020
Shares Purchased and Retired
Number	0	214	214
Total purchase price	$ 0	$ 26,132	$ 26,132
Average cost per share	$ 0.00	$ 121.92	$ 121.92

Changes in Total Equity



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands, except per share data	2021	2020	2021	2020
Total Equity
Balance at beginning of period	$ 6,136,241	$ 5,590,326	$ 6,027,330	$ 5,621,857
Net earnings	195,344	209,916	355,958	270,174
Common stock issued
Share-based compensation plans, net of shares
withheld for taxes	(798)	(1,456)	(12,876)	(16,539)
Purchase and retirement of common stock	0	0	0	(26,132)
Share-based compensation expense	9,819	8,504	17,688	15,220
Cash dividends on common stock
($0.37/$0.34/$0.74/$0.68 per share, respectively)	(49,088)	(45,028)	(98,173)	(90,128)
Other comprehensive income (expense)	1,595	1,889	3,186	(10,301)
Balance at end of period	$ 6,293,113	$ 5,764,151	$ 6,293,113	$ 5,764,151

SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2021

SEGMENT REPORTING [Abstract]

Segment Financial Disclosure



	Three Months Ended		Six Months Ended
	June 30		June 30
in thousands	2021	2020	2021	2020
Total Revenues
Aggregates ¹	$ 1,125,367	$ 1,070,596	$ 2,020,276	$ 1,938,822
Asphalt ²	212,577	222,950	359,744	362,739
Concrete	96,201	100,683	177,560	195,448
Calcium	1,960	1,889	4,020	3,915
Segment sales	$ 1,436,105	$ 1,396,118	$ 2,561,600	$ 2,500,924
Aggregates intersegment sales	(75,058)	(73,543)	(132,209)	(129,107)
Total revenues	$ 1,361,047	$ 1,322,575	$ 2,429,391	$ 2,371,817
Gross Profit
Aggregates	$ 373,833	$ 351,162	$ 597,471	$ 545,293
Asphalt	13,532	30,464	10,541	28,029
Concrete	10,293	14,227	18,061	23,440
Calcium	706	666	1,558	1,480
Total	$ 398,364	$ 396,519	$ 627,631	$ 598,242
Depreciation, Depletion, Accretion
and Amortization (DDA&A)
Aggregates	$ 84,328	$ 80,747	$ 165,136	$ 157,883
Asphalt	9,060	8,668	18,155	17,402
Concrete	4,026	4,001	7,978	8,083
Calcium	39	48	78	97
Other	5,654	6,006	12,128	11,486
Total	$ 103,107	$ 99,470	$ 203,475	$ 194,951
Identifiable Assets ³
Aggregates			$ 9,492,913	$ 9,545,787
Asphalt			579,151	583,902
Concrete			314,166	321,304
Calcium			3,527	3,718
Total identifiable assets			$ 10,389,757	$ 10,454,711
General corporate assets			212,864	126,814
Cash and cash equivalents and restricted cash			968,406	817,199
Total assets			$ 11,571,027	$ 11,398,724


¹	Includes product sales (crushed stone, sand and gravel, sand, and other aggregates), as well as freight & delivery costs that we pass along to our customers, and service revenues (see Note 4) related to aggregates.
²	Includes product sales, as well as service revenues (see Note 4) from our asphalt construction paving business.
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)

6 Months Ended

Jun. 30, 2021

SUPPLEMENTAL CASH FLOW INFORMATION [Abstract]

Supplemental Information Referable to Condensed Consolidated Statements of Cash Flows



	Six Months Ended
	June 30
in thousands	2021	2020
Cash Payments
Interest (exclusive of amount capitalized)	$ 65,195	$ 60,741
Income taxes	87,416	9,055
Noncash Investing and Financing Activities
Accrued liabilities for purchases of property, plant & equipment	$ 27,018	$ 10,994
Recognition of new and revised asset retirement obligations	1,770	55,858
Recognition of new and revised right-of-use assets for
Operating lease liabilities ¹	56,974	25,083
Finance lease liabilities	3,265	4,991
Amounts referable to business acquisitions
Liabilities assumed	0	5,637
Consideration payable to seller	0	8,980
Fair value of noncash assets and liabilities exchanged	0	21,214


¹	The 2021 amount includes a modification to our headquarters office space lease to extend the lease term.

GOODWILL (Tables)

6 Months Ended

Jun. 30, 2021

GOODWILL [Abstract]

Changes in Carrying Amount of Goodwill by Reportable Segment



in thousands	Aggregates	Asphalt	Concrete	Calcium	Total
Goodwill
Totals at December 31, 2020	$ 3,080,479	$ 91,633	$ 0	$ 0	$ 3,172,112
Totals at June 30, 2021	$ 3,080,479	$ 91,633	$ 0	$ 0	$ 3,172,112

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021 USD ($) state	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) state factor	Jun. 30, 2020 USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
State of incorporation			NJ
Number of states \| state	20		20
Number of demographic factors \| factor			3
Revenues from discontinued operations \| $	$ 0	$ 0	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Results from Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Pretax loss	$ (1,935)	$ (1,412)	$ (3,358)	$ (1,058)
Income tax benefit	499	371	867	277
Loss on discontinued operations, net of tax	$ (1,436)	$ (1,041)	$ (2,491)	$ (781)

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.

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.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3B
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721525-107759

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120385591&loc=d3e38679-109324

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109222160&loc=d3e1012-107759

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721523-107759

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
-URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32672-109319

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.

Amortization of right-of-use assets

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Weighted-Average Common Shares Outstanding Assuming Dilution) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Weighted-average common shares outstanding	132,781	132,552	132,765	132,560
Dilutive effect of Stock-Only Stock Appreciation Rights	318	271	309	307
Dilutive effect of Other stock compensation plans	408	292	381	287
Weighted-average common shares outstanding, assuming dilution	133,507	133,115	133,455	133,154

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Antidilutive Common Stock Equivalents) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Antidilutive common stock equivalents	67	296	67	275

LEASES (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
LEASES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
LEASES [Abstract]
Cash paid for operating leases	$ 28,738	$ 26,559
Cash paid for finance leases	$ 1,310	$ 658

LEASES (Schedule of Lease Assets and Liabilities, Weighted-Average Lease Term and Discount Rate) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
LEASES [Abstract]
Operating lease ROU assets	$ 530,760	$ 482,513	$ 472,003
Accumulated amortization	(65,995)	(59,385)	(45,385)
Total lease assets	$ 464,765	423,128	426,618
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Total lease assets
Finance lease assets	$ 11,061	7,796	6,223
Accumulated amortization	(2,970)	(1,640)	(737)
Finance leases, net	$ 8,091	6,156	5,486
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property Plant And Equipment Net
Total lease assets	$ 472,856	429,284	432,104
Current operating lease liabilities	$ 36,694	36,969	32,645
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Liabilities Current
Current finance lease liabilities	$ 2,815	2,047	1,695
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Liabilities Current
Noncurrent operating lease liabilities	$ 443,128	399,582	405,578
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Noncurrent operating lease liabilities
Noncurrent finance lease liabilities	$ 5,325	4,139	3,807
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities Noncurrent
Total lease liabilities	$ 487,962	$ 442,737	$ 443,725
Weighted-average remaining lease term, Operating leases	9 years 1 month 6 days	9 years 6 months	10 years 4 months 24 days
Weighted-average remaining lease term, Finance leases	3 years 9 months 18 days	4 years 2 months 12 days	4 years 4 months 24 days
Weighted-average discount rate, Operating leases	3.30%	3.60%	4.10%
Weighted-average discount rate, Finance leases	1.30%	1.40%	1.50%

LEASES (Components of Lease Expense) (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

LEASES [Abstract]

$ 699

$ 369

$ 1,330

$ 673

Interest on lease liabilities

30

25

60

47

Operating lease cost

15,517

14,234

30,809

28,340

Short-term lease cost

^[1]

5,345

7,676

10,447

16,721

Variable lease cost

2,779

3,773

5,470

6,905

Sublease income

(834)

(721)

(1,657)

(1,456)

Total lease cost

$ 23,536

$ 25,356

$ 46,459

$ 51,230

[1]	Our short-term lease cost includes the cost of leases with an initial term of one month or less.

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Increase in valuation allowance		$ 13,695
Income tax benefit recognition threshold more likely than not				50.00%
Income tax expense	$ 57,283		$ 61,352	$ 117,922	$ 73,546
Alabama [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards, valuation allowance	$ 42,931			$ 42,931
Alabama [Member] \| State [Member] \| Earliest Tax Year [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards expiration year				2023
Alabama [Member] \| State [Member] \| Latest Tax Year [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards expiration year				2029
Alabama [Member] \| Forecast [Member]
Operating Loss Carryforwards [Line Items]
State net operating loss carryforwards						$ 63,155

REVENUES (Narrative) (Details)
$ in Thousands

3 Months Ended

6 Months Ended

24 Months Ended

Jun. 30, 2021

USD ($)

Jun. 30, 2020

USD ($)

Jun. 30, 2021

USD ($)

item

Jun. 30, 2020

USD ($)

Dec. 31, 2013

USD ($)

Jun. 30, 2022

USD ($)

Mar. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Mar. 31, 2020

USD ($)

Dec. 31, 2019

USD ($)

Number of quarries | item

Revenues

^[1]

$ 1,361,047

$ 1,322,575

$ 2,429,391

$ 2,371,817

8

Proceeds from sale of future production

$ 226,926

Term of the VPPs

20 years

Estimated deferred revenue to be recognized in the next 12 months

$ 174,076

$ 181,963

$ 174,076

$ 181,963

$ 176,293

$ 177,962

$ 183,997

$ 185,339

Service [Member]

Percent of total revenues

4.50%

4.30%

4.20%

4.10%

Revenues

$ 60,778

$ 57,374

$ 102,018

$ 96,938

Minimum [Member]

Coverage of warranty provisions

9 months

Maximum [Member]

Coverage of warranty provisions

1 year

Maximum [Member] | Construction Paving [Member]

Costs for paving contracts expense, expected amortization period

1 year

Forecast [Member]

Estimated deferred revenue to be recognized in the next 12 months

$ 7,500

Aggregates [Member]

Aggregates [Member] | Minimum [Member]

Revenues

^[1]

$ 1,050,309

$ 997,053

$ 1,888,067

$ 1,809,715

Percent of shipments used for publicly funded construction

45.00%

Aggregates [Member] | Maximum [Member]

Percent of shipments used for publicly funded construction

55.00%

[1]

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 and Texas

West market — Arizona, California and New Mexico

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

3 Months Ended

6 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Segment Reporting, Revenue Reconciling Item [Line Items]

Operating Segments [Member]

^[1]

$ 1,361,047

$ 1,322,575

$ 2,429,391

$ 2,371,817

Segment Reporting, Revenue Reconciling Item [Line Items]

Intersegment Sales [Member]

^[1]

1,436,105

1,396,118

2,561,600

2,500,924

Segment Reporting, Revenue Reconciling Item [Line Items]

Segment Reporting, Revenue Reconciling Item [Line Items]

^[1]

(75,058)

(73,543)

(132,209)

(129,107)

East [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

^[1]

463,477

459,847

779,317

779,717

Gulf Coast [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

^[1]

674,167

638,149

1,253,902

1,184,291

West [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

^[1]

298,461

298,122

528,381

536,916

Aggregates [Member]

Aggregates [Member] | Operating Segments [Member]

^[1]

1,050,309

997,053

1,888,067

1,809,715

Segment Reporting, Revenue Reconciling Item [Line Items]

Aggregates [Member] | Intersegment Sales [Member]

^[1],[2]

1,125,367

1,070,596

2,020,276

1,938,822

Segment Reporting, Revenue Reconciling Item [Line Items]

Aggregates [Member] | East [Member]

^[1]

(75,058)

(73,543)

(132,209)

(129,107)

Segment Reporting, Revenue Reconciling Item [Line Items]

Aggregates [Member] | Gulf Coast [Member]

^[1]

354,415

350,238

597,766

590,106

Segment Reporting, Revenue Reconciling Item [Line Items]

Aggregates [Member] | West [Member]

^[1]

607,514

567,811

1,126,368

1,061,107

Segment Reporting, Revenue Reconciling Item [Line Items]

Segment Reporting, Revenue Reconciling Item [Line Items]

^[1]

163,438

152,547

296,142

287,609

Asphalt [Member]

Asphalt [Member] | Operating Segments [Member]

^[1]

212,577

222,950

359,744

362,739

Segment Reporting, Revenue Reconciling Item [Line Items]

Asphalt [Member] | Intersegment Sales [Member]

^[1],[3]

212,577

222,950

359,744

362,739

Segment Reporting, Revenue Reconciling Item [Line Items]

Asphalt [Member] | East [Member]

^[1]

0

Segment Reporting, Revenue Reconciling Item [Line Items]

Asphalt [Member] | Gulf Coast [Member]

^[1]

42,797

37,956

60,197

55,839

Segment Reporting, Revenue Reconciling Item [Line Items]

Asphalt [Member] | West [Member]

^[1]

46,075

50,503

87,488

84,358

Segment Reporting, Revenue Reconciling Item [Line Items]

Segment Reporting, Revenue Reconciling Item [Line Items]

^[1]

123,705

134,491

212,059

222,542

Concrete [Member]

Concrete [Member] | Operating Segments [Member]

^[1]

96,201

100,683

177,560

195,448

Segment Reporting, Revenue Reconciling Item [Line Items]

Concrete [Member] | Intersegment Sales [Member]

^[1]

96,201

100,683

177,560

195,448

Segment Reporting, Revenue Reconciling Item [Line Items]

Concrete [Member] | East [Member]

^[1]

0

Segment Reporting, Revenue Reconciling Item [Line Items]

Concrete [Member] | Gulf Coast [Member]

^[1]

66,265

71,653

121,354

133,772

Segment Reporting, Revenue Reconciling Item [Line Items]

Concrete [Member] | West [Member]

^[1]

18,618

17,946

36,026

34,911

Segment Reporting, Revenue Reconciling Item [Line Items]

Segment Reporting, Revenue Reconciling Item [Line Items]

^[1]

11,318

11,084

20,180

26,765

Calcium [Member]

Calcium [Member] | Operating Segments [Member]

^[1]

1,960

1,889

4,020

3,915

Segment Reporting, Revenue Reconciling Item [Line Items]

Calcium [Member] | Intersegment Sales [Member]

^[1]

1,960

1,889

4,020

3,915

Segment Reporting, Revenue Reconciling Item [Line Items]

Calcium [Member] | East [Member]

^[1]

0

Segment Reporting, Revenue Reconciling Item [Line Items]

Calcium [Member] | Gulf Coast [Member]

^[1]

0

Segment Reporting, Revenue Reconciling Item [Line Items]

Calcium [Member] | West [Member]

^[1]

1,960

1,889

4,020

3,915

Segment Reporting, Revenue Reconciling Item [Line Items]

Disaggregation of Revenue [Line Items]

^[1]

$ 0

[1]

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 and Texas

West market — Arizona, California and New Mexico

[2]

Includes product sales (crushed stone, sand and gravel, sand, and other aggregates), as well as freight & delivery costs that we pass along to our customers, and service revenues (see Note 4) related to aggregates.

[3]

Includes product sales, as well as service revenues (see Note 4) from our asphalt construction paving business.

REVENUES (Freight & Delivery Revenues) (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Freight & Delivery Revenues [Member]

^[1]

$ 1,361,047

$ 1,322,575

$ 2,429,391

$ 2,371,817

Disaggregation of Revenue [Line Items]

Total Revenues Excluding Freight & Delivery [Member]

^[2]

(195,060)

(202,855)

(358,468)

(379,223)

Disaggregation of Revenue [Line Items]

$ 1,165,987

$ 1,119,720

$ 2,070,923

$ 1,992,594

[1]

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 and Texas

West market — Arizona, California and New Mexico

[2]

Includes freight & delivery to remote distribution sites

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

REVENUES (Reconciliation of Deferred Revenue Balances) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
REVENUES [Abstract]
Balance at beginning of period	$ 176,293	$ 183,997	$ 177,962	$ 185,339
Revenue recognized from deferred revenue	(2,217)	(2,034)	(3,886)	(3,376)
Balance at end of period	$ 174,076	$ 181,963	$ 174,076	$ 181,963

FAIR VALUE MEASUREMENTS (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021 USD ($) item	Jun. 30, 2020 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Number of Rabbi Trusts established \| item	2
Net gains (losses) of the Rabbi Trust investments	$ 3,382	$ (998)
Unrealized net gains (losses) of the Rabbi Trusts' investments	$ 3,028	$ (990)

FAIR VALUE MEASUREMENTS (Fair Value Measurement on Recurring Basis) (Details) - Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 31,190	$ 28,058	$ 21,994
Fair Value, Inputs, Level 1 [Member] \| Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	31,190	28,058	21,994
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,249	837	1,738
Fair Value, Inputs, Level 2 [Member] \| Money Market Mutual Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 1,249	$ 837	$ 1,738

DERIVATIVE INSTRUMENTS (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Derivative [Line Items]
Interest rate hedges	$ (23,227)	$ (23,943)	$ (24,644)
Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member] \| Interest Rate Swap [Member]
Derivative [Line Items]
Estimated amount of pretax loss in AOCI reclassified to earnings for the next 12-month period	$ (2,005)

DERIVATIVE INSTRUMENTS (Effects of Changes in Fair Values of Derivatives Designated as Cash Flow Hedges) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest Rate Swap [Member] \| Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Loss reclassified from AOCI (effective portion)	$ (487)	$ (263)	$ (969)	$ (1,337)

DEBT (Narrative) (Details) $ in Thousands	1 Months Ended			3 Months Ended	6 Months Ended
DEBT (Narrative) (Details) $ in Thousands	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	May 31, 2020 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2021 USD ($) item	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Discounts and debt issuance costs					$ 11,380	$ 3,126
Total long-term debt - face value		$ 3,355,341		$ 2,857,458	2,857,458	3,355,341	$ 3,357,899
Financing costs		69,669		72,130	72,130	69,669	70,224
Net proceeds			$ 741,417
Repayment of long-term debt					500,013	250,012
Short-term debt		0		0	0	0	0
Delayed Draw Term Loan Expires 2024 [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				1,600,000	$ 1,600,000
Commitment fee					0.10%
Delayed Draw Term Loan Expires 2024 [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Applicable margin on borrowing rate					1.00%
Delayed Draw Term Loan Expires 2024 [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Applicable margin on borrowing rate					0.00%
Investment-Grade Type Covenants Governed [Member]
Debt Instrument [Line Items]
Number of indentures with customary investment-grade type covenants \| item					3
Bridge Facility And Delayed Draw Term Loan [Member]
Debt Instrument [Line Items]
Discounts and debt issuance costs				9,384
Financing costs				13,316	$ 13,316
Line of Credit [Member]
Debt Instrument [Line Items]
Transaction fees	$ 4,632
Maximum borrowing capacity	$ 1,000,000			1,000,000	$ 1,000,000
Commitment fee					0.10%
Available borrowing capacity				942,715	$ 942,715
Debt issued, term	5 years
Line of Credit [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Applicable margin on borrowing rate					1.125%
Line of Credit [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Applicable margin on borrowing rate					0.125%
Line of Credit [Member] \| Delayed Draw Term Loan And Line Of Credit [Member]
Debt Instrument [Line Items]
Short-term debt				0	$ 0
Bridge Facility [Member]
Debt Instrument [Line Items]
Face value				2,200,000	2,200,000
Standby Letters of Credit [Member]
Debt Instrument [Line Items]
Outstanding standby letters of credit				57,285	$ 57,285
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%
Maximum [Member] \| Delayed Draw Term Loan Expires 2024 [Member]
Debt Instrument [Line Items]
Commitment fee					0.225%
Maximum [Member] \| Delayed Draw Term Loan Expires 2024 [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Applicable margin on borrowing rate					1.375%
Maximum [Member] \| Delayed Draw Term Loan Expires 2024 [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Applicable margin on borrowing rate					0.375%
Maximum [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Commitment fee					0.225%
Maximum [Member] \| Line of Credit [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Applicable margin on borrowing rate					1.625%
Maximum [Member] \| Line of Credit [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Applicable margin on borrowing rate					0.625%
Minimum [Member] \| Delayed Draw Term Loan Expires 2024 [Member]
Debt Instrument [Line Items]
Commitment fee					0.09%
Minimum [Member] \| Delayed Draw Term Loan Expires 2024 [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Applicable margin on borrowing rate					0.875%
Minimum [Member] \| Delayed Draw Term Loan Expires 2024 [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Applicable margin on borrowing rate					0.00%
Minimum [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Commitment fee					0.09%
Minimum [Member] \| Line of Credit [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Applicable margin on borrowing rate					1.00%
Minimum [Member] \| Line of Credit [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Applicable margin on borrowing rate					0.00%
Term Loan Due [Member] \| Delayed Draw Term Loan Expires 2024 [Member]
Debt Instrument [Line Items]
Total long-term debt - face value		0		0	$ 0	0	0
Maturity year					2024
Notes [Member]
Debt Instrument [Line Items]
Total long-term debt - face value				2,857,458	$ 2,857,458
Notes [Member] \| Investment-Grade Type Covenants Governed [Member]
Debt Instrument [Line Items]
Total long-term debt - face value				2,846,188	2,846,188
Notes [Member] \| 3.50% notes due 2030 [Member]
Debt Instrument [Line Items]
Total long-term debt - face value		750,000	$ 750,000	$ 750,000	$ 750,000	750,000	750,000
Maturity year			2030		2030
Interest rate			3.50%	3.50%	3.50%
Notes [Member] \| Floating-Rate Notes Due 2020 [Member]
Debt Instrument [Line Items]
Total long-term debt - face value			$ 250,000
Maturity year					2020
Repayment of long-term debt		250,000
Notes [Member] \| Floating-Rate Notes Due 2021 [Member]
Debt Instrument [Line Items]
Total long-term debt - face value		$ 500,000		$ 0	$ 0	$ 500,000	$ 500,000
Maturity year					2021
Face value				$ 500,000	$ 500,000

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

1 Months Ended

6 Months Ended

May 31, 2020

Jun. 30, 2021

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Total short-term debt

$ 0

Unamortized discounts and debt issuance costs

2,857,458

3,357,899

3,355,341

(72,130)

(70,224)

(69,669)

Total long-term debt - book value

2,785,328

3,287,675

3,285,672

Less current maturities

15,436

515,435

500,026

Total long-term debt - reported value

2,769,892

2,772,240

2,785,646

Estimated fair value of long-term debt

3,345,392

3,443,225

3,225,468

Delayed Draw Term Loan Expires 2024 [Member]

Maximum borrowing capacity

1,600,000

Line of Credit [Member] | Bank Line Of Credit Due 2025 [Member]

Total short-term debt

^[1]

$ 0

0

Line of Credit [Member] | Bank Line Of Credit Due 2025 [Member]

^[1]

2025

^[1]

$ 0

0

Term Loan Due [Member] | Delayed Draw Term Loan Expires 2024 [Member]

^[1]

2025

$ 0

0

2024

Notes [Member]

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

$ 2,857,458

$ 0

500,000

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

2021

$ 6,000

6,000

8.85%

2021

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

8.88%

$ 400,000

400,000

4.50%

2025

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

4.65%

$ 400,000

400,000

3.90%

2027

Notes [Member] | 3.50% notes due 2030 [Member]

4.00%

$ 750,000

750,000

3.50%

2030

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

3.94%

$ 129,239

129,239

7.15%

2037

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

8.05%

$ 700,000

700,000

4.50%

2047

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

4.59%

$ 460,949

460,949

4.70%

2048

5.42%

Other Notes [Member]

$ 11,270

$ 11,711

$ 9,153

0.88%

Line of Credit [Member]

Maximum borrowing capacity

$ 1,000,000

[1]	Borrowings on the bank line of credit are classified as short-term if we intend to repay within twelve months and as long-term if we have the intent and ability to extend payment beyond twelve months.

DEBT (Standby Letters of Credit) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Reclamation/restoration requirements	$ 286,435	$ 285,401	$ 283,163	$ 263,748	$ 263,445	$ 210,323
Standby Letters of Credit [Member]
Line of Credit Facility [Line Items]
Risk management insurance	48,982
Reclamation/restoration requirements	8,303
Total	$ 57,285

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) $ in Thousands	1 Months Ended				3 Months Ended	6 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017 item	Mar. 31, 2016 mi	May 31, 2007 entity mi	Sep. 30, 2020 item	Jun. 30, 2021 USD ($) item defendant	Dec. 31, 2020 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Loss Contingencies [Line Items]
Asset retirement obligations \| $						$ 286,435	$ 283,163	$ 285,401	$ 263,748	$ 263,445	$ 210,323
Number of groundwater extraction wells \| item		2
Contingency loss \| $						0
Lease liabilities \| $						$ 487,962	$ 442,737		$ 443,725
Parent Company [Member]
Loss Contingencies [Line Items]
Judge ruled allocation of fault among defendants, percentage	15.00%						15.00%
Texas Brine [Member]
Loss Contingencies [Line Items]
Number of pipeline cases \| item						3
Number of defendants \| defendant						3
New York Water District Cases [Member]
Loss Contingencies [Line Items]
Number of cases \| item						27
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
Texas Brine and Occidental Chemical Co [Member]
Loss Contingencies [Line Items]
Judge ruled allocation of fault among defendants, percentage							20.00%
Occidental Chemical Co [Member]
Loss Contingencies [Line Items]
Judge ruled allocation of fault among defendants, percentage	50.00%						30.00%
Texas Brine [Member]
Loss Contingencies [Line Items]
Judge ruled allocation of fault among defendants, percentage	35.00%						55.00%
Number of cases \| item						2
LADWP [Member]
Loss Contingencies [Line Items]
Number of planned new treatment capabilities \| item					2
Maximum [Member] \| EPA [Member]
Loss Contingencies [Line Items]
Estimated implementation costs \| $						$ 1,380,000
Standby Letters of Credit [Member]
Loss Contingencies [Line Items]
Outstanding standby letters of credit \| $						$ 57,285

COMMITMENTS AND CONTINGENCIES (Accrued Environmental Remediation Costs) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Loss Contingencies [Line Items]
Accrued Environmental Remediation Costs	$ 36,413	$ 36,515	$ 33,589
Continuing Operations [Member]
Loss Contingencies [Line Items]
Accrued Environmental Remediation Costs	25,543	25,544	22,743
Retained From Former Chemicals Business [Member]
Loss Contingencies [Line Items]
Accrued Environmental Remediation Costs	$ 10,870	$ 10,971	$ 10,846

ASSET RETIREMENT OBLIGATIONS (Narrative) (Details)	6 Months Ended
ASSET RETIREMENT OBLIGATIONS (Narrative) (Details)	Jun. 30, 2021 item
California [Member]
Asset Retirement Obligations [Line Items]
Number of aggregates locations	2

ASSET RETIREMENT OBLIGATIONS (Asset Retirement Obligations Operating Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
ASSET RETIREMENT OBLIGATIONS [Abstract]
Accretion	$ 3,259	$ 3,247	$ 6,455	$ 6,155
Depreciation	2,664	2,063	5,325	3,899
Total	$ 5,923	$ 5,310	$ 11,780	$ 10,054

ASSET RETIREMENT OBLIGATIONS (Reconciliations of Asset Retirement Obligations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
ASSET RETIREMENT OBLIGATIONS [Abstract]
Balance at beginning of period	$ 285,401	$ 263,445	$ 283,163	$ 210,323
Liabilities incurred	0	0	938	0
Liabilities settled	(2,260)	(3,354)	(4,953)	(8,588)
Accretion expense	3,259	3,247	6,455	6,155
Revisions, net	35	410	832	55,858
Balance at end of period	$ 286,435	$ 263,748	$ 286,435	$ 263,748

BENEFIT PLANS (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
BENEFIT PLANS (Narrative) (Details) $ in Thousands	Jun. 30, 2021 USD ($) entity	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) entity	Jun. 30, 2020 USD ($)
BENEFIT PLANS [Abstract]
Number of funded, noncontributory defined benefit pension plans			2
Number of unfunded, nonqualified pension plans			3
Number of defined contribution plans	2		2
Normal retirement age			65 years
Expense recognized related to defined contribution plans \| $	$ 12,885	$ 12,810	$ 35,022	$ 23,867

BENEFIT PLANS (Components of Net Periodic Benefit Cost - Pension Benefits) (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Components of Net Periodic Benefit Cost
Service cost	$ 1,194	$ 1,331	$ 2,387	$ 2,662
Interest cost	4,880	7,531	9,759	15,062
Expected return on plan assets	(11,375)	(12,485)	(22,750)	(24,969)
Amortization of prior service cost	336	335	673	670
Amortization of actuarial loss	2,179	3,140	4,357	6,279
Net periodic benefit credit	(2,786)	(148)	(5,574)	(296)
Pretax reclassification from AOCI included in net periodic pension benefit cost	$ 2,515	$ 3,475	$ 5,030	$ 6,949

BENEFIT PLANS (Components of Net Periodic Benefit Cost- Other Postretirement Benefits) (Details) - Other Postretirement Benefit Plans, Defined Benefit [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Components of Net Periodic Benefit Cost
Service cost	$ 265	$ 380	$ 530	$ 760
Interest cost	106	242	212	485
Amortization of prior service credit	(477)	(980)	(953)	(1,959)
Amortization of actuarial gain	(367)	(201)	(734)	(403)
Net periodic benefit credit	(473)	(559)	(945)	(1,117)
Pretax reclassifications from AOCI included in net periodic postretirement benefit credit	$ (844)	$ (1,181)	$ (1,687)	$ (2,362)

OTHER COMPREHENSIVE INCOME (Accumulated Other Comprehensive Income, Net of Tax) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
OTHER COMPREHENSIVE INCOME [Abstract]
Interest rate hedges	$ (23,227)	$ (23,943)	$ (24,644)
Pension and postretirement plans	(154,892)	(157,362)	(183,395)
Total	$ (178,119)	$ (181,305)	$ (208,039)

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

OTHER COMPREHENSIVE INCOME (Changes in Accumulated Other Comprehensive Income, Net of Tax) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI, Beginning balance			$ (181,305)
Amounts reclassified from AOCI			3,186
Net current period OCI changes	$ 1,595	$ 1,889	3,186	$ (10,301)
AOCI, Ending balance	(178,119)	$ (208,039)	(178,119)	$ (208,039)
Amortization of Interest Rate Hedges Losses [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI, Beginning balance			(23,943)
Amounts reclassified from AOCI			716
Net current period OCI changes			716
AOCI, Ending balance	(23,227)		(23,227)
Amortization of Pension and Postretirement Plan Actuarial Loss and Prior Service Cost [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI, Beginning balance			(157,362)
Amounts reclassified from AOCI			2,470
Net current period OCI changes			2,470
AOCI, Ending balance	$ (154,892)		$ (154,892)

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

OTHER COMPREHENSIVE INCOME (Amounts Reclassified from Accumulated Other Comprehensive Income to Earnings) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ (41,696)	$ (33,954)	$ (74,814)	$ (64,727)
Other nonoperating expense	8,223	7,367	14,136	(1,969)
Benefit from income taxes	57,283	61,352	117,922	73,546
Total	195,344	209,916	355,958	270,174
Reclassification From AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	1,595	1,889	3,186	4,378
Amortization of Interest Rate Hedges Losses [Member] \| Reclassification From AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	487	263	969	1,337
Benefit from income taxes	(127)	(69)	(253)	(349)
Total	360	194	716	988
Amortization of Pension and Postretirement Plan Actuarial Loss and Prior Service Cost [Member] \| Reclassification From AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other nonoperating expense	1,671	2,294	3,343	4,587
Benefit from income taxes	(436)	(599)	(873)	(1,197)
Total	$ 1,235	$ 1,695	$ 2,470	$ 3,390

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3602-108585

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

EQUITY (Narrative) (Details)	6 Months Ended
EQUITY (Narrative) (Details)	Jun. 30, 2021 item $ / shares shares	Dec. 31, 2020 $ / shares shares	Jun. 30, 2020 $ / shares shares
EQUITY [Abstract]
Common stock, par value \| $ / shares	$ 1	$ 1	$ 1
Common stock, shares authorized	480,000,000	480,000,000	480,000,000
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	8,064,851

EQUITY (Shares Purchased and Retired) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
EQUITY [Abstract]
Shares Purchased and Retired, Number	0	214	214
Shares Purchased and Retired, Total purchase price	$ 0	$ 26,132	$ 26,132
Shares Purchased and Retired, Average cost per share	$ 0.00	$ 121.92	$ 121.92

EQUITY (Changes in Total Equity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
EQUITY [Abstract]
Balance at beginning of period	$ 6,136,241	$ 5,590,326	$ 6,027,330	$ 5,621,857
Net earnings	195,344	209,916	355,958	270,174
Share-based compensation plans, net of shares withheld for taxes	(798)	(1,456)	(12,876)	(16,539)
Purchase and retirement of common stock	0	0	0	(26,132)
Share-based compensation expense	9,819	8,504	17,688	15,220
Cash dividends on common stock ($0.37/$0.34/$0.74/$0.68 per share, respectively)	(49,088)	(45,028)	(98,173)	(90,128)
Other comprehensive income (expense)	1,595	1,889	3,186	(10,301)
Balance at end of period	$ 6,293,113	$ 5,764,151	$ 6,293,113	$ 5,764,151
Cash dividend on common stock, per share	$ 0.37	$ 0.34	$ 0.74	$ 0.68

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3602-108585

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

SEGMENT REPORTING (Narrative) (Details)	6 Months Ended
SEGMENT REPORTING (Narrative) (Details)	Jun. 30, 2021 segment
SEGMENT REPORTING [Abstract]
Number of operating segments	4
Number of reportable segments	4

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

3 Months Ended

6 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Dec. 31, 2020

Dec. 31, 2019

^[1]

$ 1,361,047

$ 1,322,575

$ 2,429,391

$ 2,371,817

Depreciation, Depletion, Accretion & Amortization (DDA&A)

398,364

396,519

627,631

598,242

103,107

99,470

203,475

194,951

Cash and cash equivalents and restricted cash

968,406

817,199

968,406

817,199

$ 1,198,013

$ 274,506

Operating Segments [Member]

11,571,027

11,398,724

11,571,027

11,398,724

$ 11,686,905

^[1]

1,436,105

1,396,118

2,561,600

2,500,924

Intersegment Sales [Member]

^[2]

10,389,757

10,454,711

10,389,757

10,454,711

^[1]

(75,058)

(73,543)

(132,209)

(129,107)

Aggregates [Member]

Aggregates [Member] | Operating Segments [Member]

^[1]

1,050,309

997,053

1,888,067

1,809,715

^[1],[3]

1,125,367

1,070,596

2,020,276

1,938,822

Depreciation, Depletion, Accretion & Amortization (DDA&A)

373,833

351,162

597,471

545,293

84,328

80,747

165,136

157,883

Aggregates [Member] | Intersegment Sales [Member]

^[2]

9,492,913

9,545,787

9,492,913

9,545,787

^[1]

(75,058)

(73,543)

(132,209)

(129,107)

Asphalt [Member]

Asphalt [Member] | Operating Segments [Member]

^[1]

212,577

222,950

359,744

362,739

^[1],[4]

212,577

222,950

359,744

362,739

Depreciation, Depletion, Accretion & Amortization (DDA&A)

13,532

30,464

10,541

28,029

9,060

8,668

18,155

17,402

Asphalt [Member] | Intersegment Sales [Member]

^[2]

579,151

583,902

579,151

583,902

^[1]

0

Concrete [Member]

Concrete [Member] | Operating Segments [Member]

^[1]

96,201

100,683

177,560

195,448

^[1]

96,201

100,683

177,560

195,448

Depreciation, Depletion, Accretion & Amortization (DDA&A)

10,293

14,227

18,061

23,440

4,026

4,001

7,978

8,083

Concrete [Member] | Intersegment Sales [Member]

^[2]

314,166

321,304

314,166

321,304

^[1]

0

Calcium [Member]

Calcium [Member] | Operating Segments [Member]

^[1]

1,960

1,889

4,020

3,915

^[1]

1,960

1,889

4,020

3,915

Depreciation, Depletion, Accretion & Amortization (DDA&A)

706

666

1,558

1,480

39

48

78

97

Calcium [Member] | Intersegment Sales [Member]

^[2]

3,527

3,718

3,527

3,718

^[1]

0

Other Segments [Member]

Depreciation, Depletion, Accretion & Amortization (DDA&A)

5,654

6,006

12,128

11,486

Corporate [Member]