Page 114 - Martin Marietta - 2024 Proxy Statement

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

r
r
years ended December 31
(in millions, except per share data) 2023 2022 2021
Total Revenues $ 6,777.2 $ 6,160.7 $ 5,414.0
Total cost of revenues 4,754.6 4,737.4 4,065.6
Gross Profit 2,022.6 1,423.3 1,348.4
Selling, general and administrative expenses 442.8 396.7 351.0
Acquisition, divestiture and integration expenses 12.2 9.1 57.9
Other operating income, net (28.4) (189.2) (34.3)
Earnings from Operations 1,596.0 1,206.7 973.8
Interest expense 165.3 169.0 142.7
Other nonoperating income, net (62.1) (53.4) (24.4)
Earnings from continuing operations before income tax expense 1,492.8 1,091.1 855.5
Income tax expense 292.5 234.8 153.2
Earnings from continuing operations 1,200.3 856.3 702.3
(Loss) Earnings from discontinued operations, net of income tax
(benefit) expense (30.9) 10.5 0.5
Consolidated net earnings 1,169.4 866.8 702.8
Less: Net earnings attributable to noncontrolling interests 0.5 — 0.3
Net Earnings Attributable to Martin Marietta $ 1,168.9 $ 866.8 $ 702.5

Net Earnings (Loss) Attributable to Martin Marietta Per Common
Share (see Note A)
Basic earnings per share from continuing operations attributable to
common shareholders $ 19.38 $ 13.74 $ 11.25
Basic earnings per share from discontinued operations attributable
to common shareholders (0.50) 0.17 0.01
$ 18.88 $ 13.91 $ 11.26

Diluted earnings per share from continuing operations attributable
to common shareholders $ 19.32 $ 13.70 $ 11.21
Diluted earnings per share from discontinued operations
attributable to common shareholders (0.50) 0.17 0.01
$ 18.82 $ 13.87 $ 11.22
Weighted‐Average Common Shares Outstanding
Basic 61.9 62.3 62.4
Diluted 62.1 62.5 62.6

The accompanying Notes to the Financial Statements are an integral part of these statements.

Page 12 ♦ 2023 Annual Report