Page 157 - Martin Marietta - 2023 Proxy Statement

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued)

With respect to business and employment diversity, the Companyfocuses its geographic footprint along significant
transportation and commerce corridors, particularly where land is readily available for the development offulfillment and/or
data centers. The retail sector (both e‐commerce and brick and mortar) values transportation corridors, as logistics and
distribution are critical considerations for construction supporting that industry. In addition, technology companies view these
areas as attractive locations for data centers.
The Company considers a state’s financial health rating, as issued by S&P Global Ratings, in determining the opportunities and
attractiveness of areas for expansion or development. The Company’s top ten revenue‐generating states have been evaluated
and scored a financial health rating of AA‐ or higher, where AAA is the highest score. The Company also reviews the state’s
ability to secure additional infrastructure funding and financing.
In line with the Company’s strategic objectives, management’s overall focus includes:
 Upholding the Company’s commitment to its Mission, Vision and Values
 Navigating effectively through construction cycles to balance investment decisions against expected shipment
volumes
 Tracking shifts in population trends, as well as local, state and national economic conditions, to ensure changing
trends are reflected against the execution of the strategic plan
 Integrating acquired businesses efficiently to maximize the return on the investment
 Allocating capital in a manner consistent with the following long‐standing priorities while maintaining financial
flexibility
─ Acquisitions
─ Organic capital investment
─ Return of cash to shareholders through both meaningful and sustainable dividends as well as share
repurchases

Annual Report ♦ Page 53