Page 121 - Martin Marietta - 2025 Proxy Statement

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

r
r
yearsendedDecember31
(in millions,exceptper sharedata) 2024 2023 2022
Revenues $ 6,536 $ 6,777 $ 6,161
Cost of revenues 4,658 4,754 4,738
Gross Profit 1,878 2,023 1,423
Selling, generaland administrative expenses 447 443 397
Acquisition,divestiture and integration expenses 50 12 9
Otheroperating income,net (1,326) (28) (190)
Earnings from Operations 2,707 1,596 1,207
Interest expense 169 165 169
Othernonoperating income, net (58) (62) (53)
Earnings from continuing operations before income tax expense 2,596 1,493 1,091
Income tax expense 600 293 235
Earnings from continuing operations 1,996 1,200 856
(Loss) Earnings from discontinuedoperations, netofincometax
(benefit)expense — (30) 11
Consolidated netearnings 1,996 1,170 867
Less: Netearningsattributable to noncontrolling interests 1 1 —
Net EarningsAttributable to Martin Marietta $ 1,995 $ 1,169 $ 867

Net Earnings(Loss) Attributable to Martin Marietta PerCommon
Share (see NoteA)
Basicearnings per share fromcontinuing operations attributable to
commonshareholders $ 32.50 $ 19.38 $ 13.74
Basic(loss) earnings pershare from discontinued operations
attributable to commonshareholders — (0.50) 0.17
$ 32.50 $ 18.88 $ 13.91

Dilutedearningsper share fromcontinuing operations attributable
to commonshareholders $ 32.41 $ 19.32 $ 13.70
Diluted(loss) earnings pershare from discontinued operations
attributable to commonshareholders — (0.50) 0.17
$ 32.41 $ 18.82 $ 13.87
Weighted-Average CommonSharesOutstanding
Basic 61.4 61.9 62.3
Diluted 61.6 62.1 62.5

o
TheaccompanyingNotes to theFinancial Statements areanintegral partofthese statements.

2024 Annual Report ♦ Page 13