Page 12 - 2019 Annual Report

MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS

years ended December 31
(in millions, except per share data) 2019 2018 2017
_________________________________________________________________________________________________________
Products and services revenues $ 4,422.3 $ 3,980.4 $ 3,723.5
263.9
316.8
Freight revenues _____________________________________________
242.1

Total revenues 4,739.1 4,244.3 3,965.6
_________________________________________________________________________________________________________
Cost of revenues – products and services 3,239.1 3,009.8 2,749.5
Cost of revenues – freight _____________________________________________
244.2
267.9
321.0

Total cost of revenues 3,560.1 3,277.7 2,993.7
_________________________________________________________________________________________________________
Gross Profit 1,179.0 966.6 971.9
Selling, general and administrative expenses 302.7 280.6 262.1
Acquisition-related expenses, net 0.5 13.5 8.6
Other operating (income) and expenses, net (9.1) (18.2) 0.8
_________________________________________________________________________________________________________
Earnings from Operations 884.9 690.7 700.4
Interest expense 129.3 137.1 91.5
Other nonoperating expenses and (income), net 7.3 (22.5) (10.0)
_________________________________________________________________________________________________________
Earnings before income tax expense (benefit) 748.3 576.1 618.9
Income tax expense (benefit) 136.3 105.7 (94.5)
_________________________________________________________________________________________________________
Consolidated net earnings 612.0 470.4 713.4
Less: Net earnings attributable to noncontrolling interests 0.1 0.4 0.1
_________________________________________________________________________________________________________
Net Earnings Attributable to Martin Marietta $ 611.9 $ 470.0 $ 713.3

Net Earnings Attributable to Martin Marietta
Per Common Share (see Note A)
– Basic attributable to common shareholders $ 9.77 $ 7.46 $ 11.30

$ 9.74 $ 7.43 $ 11.25
– Diluted attributable to common shareholders

Weighted-Average Common Shares Outstanding
– Basic
62.5
62.9
62.9

63.1
63.2
62.7
– Diluted

The accompanying Notes to the Financial Statements are an integral part of these statements.

Page 10 ♦ Annual Report Celebrating 25 Years as a Public Company