Page 115 - Martin Marietta - 2023 Proxy Statement

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

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years ended December 31
(in millions, except per share data) 2022 021 2020
Products and services revenues $ 5,730.5 $ 5,084.7 $ 4,432.1
Freight revenues 430.2 329.3 297.8
Total Revenues 6,160.7 5,414.0 4,729.9
Cost of revenues ‐ products and services 4,304.6 3,735.7 3,175.6
Cost of revenues ‐ freight 432.8 329.9 301.5
Total cost of revenues 4,737.4 4,065.6 3,477.1
Gross Profit 1,423.3 1,348.4 1,252.8
Selling, general and administrative expenses 396.7 351.0 305.9
Acquisition and integration expenses 9.1 57.9 1.3
Other operating income, net (189.2) (34.3) (59.8)
Earnings from Operations 1,206.7 973.8 1,005.4
Interest expense 169.0 142.7 118.1
Other nonoperating income, net (53.4) (24.4) (2.0)
Earnings from continuing operations before income tax expense 1,091.1 855.5 889.3
Income tax expense 234.8 153.2 168.2
Earnings from continuing operations 856.3 702.3 721.1
Earnings from discontinued operations, net of income tax expense 10.5 0.5 —
Consolidated net earnings 866.8 702.8 721.1
Less: Net earnings attributable to noncontrolling interests — 0.3 0.1
Net Earnings Attributable to Martin Marietta $ 866.8 $ 702.5 $ 721.0

Net Earnings Attributable to Martin Marietta Per Common Share
(see Note A)
Basic from continuing operations attributable to
common shareholders $ 13.74 $ 11.25 $ 11.56
Basic from discontinued operations attributable to
common shareholders 0.17 0.01 —
$ 13.91 $ 11.26 $ 11.56

Diluted from continuing operations attributable to
common shareholders $ 13.70 $ 11.21 $ 11.54
Diluted from discontinued operations attributable to
common shareholders 0.17 0.01 —
$ 13.87 $ 11.22 $ 11.54
Weighted‐Average Common Shares Outstanding
Basic 62.3 62.4 62.3
Diluted 62.5 62.6 62.4

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Th T T e accompanying Notes to the Financial Statements are an integral part of these statements.

Annual Report ♦ Page 11