Page 91 - 2019 Annual Report

FIVE YEAR SELECTED FINANCIAL DATA

(in millions, except per share data) 2019 2018 2017 2016 2015
Consolidated Operating Results
Products and services revenues $ 4,422.3 $ 3,980.4 $ 3,723.5 $ 3,578.6 $ 3,269.2
1
Freight revenues 316.8 263.9 242.1 240.1 270.4
1
Total revenues 4,739.1 4,244.3 3,965.6 3,818.7 3,539.6
Cost of revenues ‐ products and services 3,239.1 3,009.8 2,749.5 2,665.0 2,541.2
Cost of revenues ‐ freight 321.0 267.9 244.2 242.0 271.5
Total cost of revenues 3,560.1 3,277.7 2,993.7 2,907.0 2,812.7
2
Gross Profit 1,179.0 966.6 971.9 911.7 726.9
2
Selling, general and administrative expenses 302.7 280.6 262.1 241.6 210.8
2
Acquisition‐related expenses, net 0.5 13.5 8.6 0.9 6.3
Other operating (income) and expenses, net (9.1 ) (18.2 ) 0.8 (8.1 ) 15.6
Earnings from Operations 884.9 690.7 700.4 677.3 494.2
2
Interest expense 129.3 137.1 91.5 81.7 76.3
Other nonoperating expenses and (income), net 7.3 (22.5 ) (10.0 ) (11.4 ) 4.1
2
Earnings before income tax expense (benefit) 748.3 576.1 618.9 607.0 413.8
Income tax expense (benefit) 136.3 105.7 (94.5 ) 181.6 124.9
Consolidated net earnings 612.0 470.4 713.4 425.4 288.9
Less: Net earnings attributable to noncontrolling
interests 0.1 0.4 0.1 — 0.1
Net Earnings Attributable to Martin Marietta $ 611.9 $ 470.0 $ 713.3 $ 425.4 $ 288.8
Net Earnings Attributable to Martin Marietta Per
Common Share (see Note A):
Basic attributable to common shareholders $ 9.77 $ 7.46 $ 11.30 $ 6.66 $ 4.31
Diluted attributable to common shareholders $ 9.74 $ 7.43 $ 11.25 $ 6.63 $ 4.29

Cash Dividends Per Common Share $ 2.06 $ 1.84 $ 1.72 $ 1.64 $ 1.60

3
3
(in millions) 2019 2018 2017 2016 2015
Condensed Consolidated Balance Sheet Data
Total current assets $ 1,426.7 $ 1,365.8 $ 2,631.2 $ 1,086.4 $ 1,081.6
4
Property, plant and equipment, net 5,206.0 5,157.2 3,592.8 3,423.4 3,156.0
Goodwill 2,396.8 2,399.1 2,160.3 2,159.3 2,068.2
Other intangibles, net 486.8 501.3 506.3 511.3 510.6
Other noncurrent assets 615.3 128.0 101.9 120.5 141.2
4,5
Total Assets $ 10,131.6 $ 9,551.4 $ 8,992.5 $ 7,300.9 $ 6,957.6
Current liabilities – other $ 498.5 $ 396.7 $ 394.3 $ 366.6 $ 347.9
5
Current maturities of long‐term debt 340.0 390.0 299.9 180.0 18.7
4
Long‐term debt 2,433.6 2,730.4 2,727.3 1,506.1 1,550.1
4
Deferred income taxes, net 733.0 705.6 410.7 663.0 583.5
Other noncurrent liabilities 773.2 379.3 477.8 442.6 397.2
5
Shareholders’ equity 5,350.8 4,946.4 4,679.7 4,140.0 4,057.3
Noncontrolling interests 2.5 3.0 2.8 2.6 2.9
Total Liabilities and Equity $ 10,131.6 $ 9,551.4 $ 8,992.5 $ 7,300.9 $ 6,957.6
1 Amounts for 2015‐2017 may not equal amounts reported in the Company’s prior years’ Forms 10‐K as amounts have been reclassified to conform to
current year revenue presentation.
2 Amounts for 2015‐2016 may not equal amounts reported in the Company’s prior years’ Forms 10‐K as amounts have been reclassified to reflect the
adoption of the Accounting Standards Update 2017‐07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit
Cost.
3 The 2018 balance sheet reflects the acquisition of Bluegrass Materials Company (“Bluegrass”) completed on April 27, 2018. The 2017 balance sheet reflects
$1.1 billion of cash and long‐term debt issued in anticipation of closing the Bluegrass acquisition.
4 Balance sheets reflect the adoption of Accounting Standards Update 2015‐03, Simplifying the Presentation of Debt Issuance Costs.
5 The 2019 balance sheet reflects the adoption of ASC 842. The operating lease right‐of‐use assets are included in other noncurrent assets, and operating
lease liabilities are included in other current and noncurrent liabilities.

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