Page 53 - 2019 Annual Report

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

INTRODUCTORY OVERVIEW
Martin Marietta Materials, Inc. (the “Company” or “Martin
Marietta”) is a natural resource-based building materials
company. The Company supplies aggregates (crushed
stone, sand and gravel) through its network of more than
300 quarries, mines and distribution yards in 27 states,
Canada and the Bahamas. In the western United States,
Martin Marietta also provides cement and downstream
products, namely ready mixed concrete, asphalt and
paving services, in markets where the Company has a
leading aggregates position. Specifically, the Company has
two cement plants in Texas and ready mixed concrete and
asphalt operations in Texas, Colorado, Louisiana, Arkansas
and Wyoming. Paving services are exclusively in Colorado.
The Company’s heavy-side building materials are used in
infrastructure, nonresidential and residential construction
projects. Aggregates are also used in agricultural, utility
and environmental applications and as railroad ballast. The
aggregates, cement, ready mixed concrete, asphalt and
paving product lines are reported collectively as the
“Building Materials” business.
As more fully discussed in the Consolidated Strategic
Objectives section, geography is critically important for the
Building Materials business. The Company conducts its
Building Materials business through three reportable
segments, organized by geography: Mid-America Group,
Southeast Group and West Group. The Mid-America and
Southeast Groups provide aggregates products only. The
West Group provides aggregates, cement and downstream
products and services. Further, the following five states accounted for 72% of the Building Materials business 2019 total
products and services revenues: Texas, Colorado, North Carolina, Georgia and Iowa.

Celebrating 25 Years as a Public Company Annual Report ♦ Page 51