Page 169 - Martin Marietta - 2023 Proxy Statement

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

Mix‐Adjusted Average Selling Price
Mix‐adjusted average selling price (mix‐adjusted ASP) is a non‐GAAP measure that excludes the impacts of period‐over‐period
product, geographic and other mix on the average selling price. Mix‐adjusted ASP is calculated by comparing current‐period
shipments to like‐for‐like shipments in the comparable prior period. Management uses this metric to evaluate the realization
of pricing increases and believes this information is useful to investors. The following reconciles reported average selling price
to mix‐adjusted ASP and corresponding variances:
years ended December 31
(in millions) 2022 2021
East Group ‐ Aggregates:
eported average selling price $ 17.19 $ 15.56
Adjustment for impact of product, geographic and other mix (0.19)
Mix‐adjusted ASP $ 17.00

Reported average selling price variance 10.5%
Mix‐adjusted ASP variance 9.3%

West Group ‐ Aggregates:
eported average selling price $ 15.93 $ 14.25
Adjustment for impact of product, geographic and other mix (0.06)
Mix‐adjusted ASP $ 15.87

Reported average selling price variance 11.9%
Mix‐adjusted ASP variance 11.4%

Total Aggregates:
eported average selling price $ 16.68 $ 15.08
Adjustment for impact of product, geographic and other mix (0.09)
Mix‐adjusted ASP $ 16.59

Reported average selling price variance 10.6%
Mix‐adjusted ASP variance 10.0%

Cement ‐ Continuing Operations:
eported average selling price $ 142.83 $ 122.14
Adjustment for impact of product, geographic and other mix (0.51)
Mix‐adjusted ASP $ 142.32

Reported average selling price variance 16.9%
Mix‐adjusted ASP variance 16.5%

Annual Report ♦ Page 65