Page 72 - 2019 Annual Report
P. 72

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)
           Aggregates. The average selling price per ton for aggregates was $14.33 and $13.75 for 2019 and 2018, respectively.
           Aggregates average selling price increases compared to the prior year are as follows:

            years ended December 31                                                 2019              2018
              Mid-America Group                                                     1.7%              0.8%
              Southeast Group                                                       4.8%              1.2%
              West Group                                                            7.1%              2.0%
            Total Aggregates Operations                                             4.2%              1.8%
                                    1
           1   Total aggregates operations include acquisitions from the date of acquisition and divestitures through the date of disposal.

           Pricing growth in 2019 is in line with the Company’s historical long-term annual growth rate.
           The following presents aggregates shipments for each reportable segment of the Building Materials business:

            years ended December 31
            Tons (in millions)                                                      2019              2018
              Mid-America Group                                                           95.6             83.0
              Southeast Group                                                             27.0             23.7
              West Group                                                                  68.5             64.4
                                    1
            Total Aggregates Operations                                                  191.1            171.1
           1   Total aggregates operations include acquisitions from the date of acquisition and divestitures through the date of disposal.

           Aggregates shipments sold to external customers and internal tons used in other product lines are as follows:
           .
            years ended December 31
            Tons (in millions)                                                      2019              2018
              Tons to external customers                                                 181.1            160.5
              Internal tons used in other product lines                                   10.0             10.6
            Aggregates Tons                                                              191.1            171.1

           Aggregates volume variance compared to the prior year by reportable segment is as follows:

            years ended December 31                                                 2019              2018
              Mid-America Group                                                     15.2%            14.5%
              Southeast Group                                                       13.9%            16.1%
              West Group                                                            6.5%             (1.0%)
                                    1
            Total Aggregates Operations                                             11.7%             8.3%
           1   Total aggregates operations include acquisitions from the date of acquisition and divestitures through the date of disposal.
           Aggregates volume strength in 2019 reflects strong underlying demand in all three end-use markets, and carryover weather-
           deferred projects from 2018. Additionally, the Mid-America Group and the Southeast Group benefitted from a full year of
           shipments from the Bluegrass operations acquired in April 2018.

           Cement, Ready Mixed Concrete, Asphalt and Paving Services. The Company’s cement and downstream operations, namely
           ready mixed concrete, asphalt and paving services, are located in the West Group.
           Average selling prices for cement, ready mixed concrete and asphalt are as follows:

            years ended December 31                                                 2019              2018
              Cement – per ton                                                  $       112.75      $    109.38
              Ready Mixed Concrete – per cubic yard                             $       109.07      $    108.83
              Asphalt – per ton                                                 $        46.75      $     45.14









           Annual Report  ♦  Page 70                                            Celebrating 25 Years as a Public Company
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