Page 135 - Martin Marietta - 2025 Proxy Statement

NOTES TO FINANCIAL STATEMENTS (Continued)
Discontinued Operations

Theassociated financial results forthe Company's Californiacementand readymixed concrete operations, which were part of the
Company'sWest Group, were reportedasdiscontinuedoperationsonthe consolidated statements of earnings throughtheir
respectivedivestiture dates. As of December 31,2024 and 2023,nooperations wereclassified as discontinuedoperations.
Financial results for the Company's discontinuedoperationsare as follows:
years ended December 31
(in millions) 2023 2022
Revenues $ 94 $ 309

Pretax (loss) earnings from operations $ (16) $ 16
Pretax loss on divestitures andsales of assets (24) —
Pretax (loss) earnings (40) 16
Income tax (benefit) expense (10) 5
(Loss) Earnings from discontinuedoperations, netofincometax
(benefit)expense $ (30) $ 11

Cash flow information for the Company's discontinuedoperations isas follows:
years ended December 31
(in millions) 2023 2022
Netcashprovidedby (used for) operating activities $ 1 $ (32)
Additionstoproperty, plantand equipment $ (3) $ (16)
Proceeds fromdivestituresand salesof assets 372 250
Netcashprovidedbyinvesting activities $ 369 $ 234

Assets and Liabilities Held for Sale

Assets andliabilitiesheld for sale at December 31,2024 includedcertain nonoperating land. At December 31, 2023, assets and
liabilitiesheld for sale also includedthe SouthTexas cement plant, relatedcement distributionterminals, and 20 readymixed
concrete plants which were sold in February 2024.
Assets andliabilities held forsaleare as follows:
December 31
(in millions) 2024 2023
Inventories, net $ — $ 61
Investment land 8 18
Otherassets — 4
Property,plant andequipment — 327
Intangible assets,excluding goodwill — 122
Operatinglease right-of-use assets — 15
Goodwill — 260
Totalcurrent assets held forsale $ 8 $ 807

Leaseobligations $ — $ (16)
Asset retirementobligations — (2)
Totalcurrent liabilitiesheld for sale $ — $ (18)

024 Annual Report ♦ Page 27