Page 155 - Martin Marietta - 2025 Proxy Statement

NOTES TO FINANCIAL STATEMENTS (Continued)
Note P: Revenues and Gross Profit

The following tables, which are reconciledtoconsolidated amounts, provide revenuesand grossprofit (loss) by lineof business:
BuildingMaterials (further dividedby product line) andMagnesiaSpecialties. Interproduct revenues represent sales fromthe
aggregates productlinetothe cement and ready mixedconcreteand asphaltand paving productlines andsales from thecement
product line to the ready mixedconcreteproduct line. EffectiveJanuary 1, 2024,the Company combinedthe cement and ready
mixed concrete productlines. Thischangewas driven by the reduced significance of each of these productlines relative to the
Building Materials businessand consolidated operating results from recent divestitures.Additionally,there is asignificant
relationshipbetween these productlines, asthe readymixed concrete productline isa significantcustomerof the cement product
line. Revenues andgross profit (loss) reflectcontinuingoperationsonly.
years ended December 31
(in millions)
Revenues 2024 2023 2022
BuildingMaterials business:
Aggregates $ 4,514 $ 4,302 $ 3,879
Cement and ready mixedconcrete 1,083 1,518 1,395
Asphalt andpaving 869 887 788
Less: interproduct revenues (250) (245) (205)
Total Building Materials business 6,216 6,462 5,857
Magnesia Specialties 320 315 304
Total $ 6,536 $ 6,777 $ 6,161

years ended December 31
(in millions)
Gross profit (loss) 2024 2023 2022
BuildingMaterials business:
Aggregates $ 1,449 $ 1,378 $ 984
Cement and ready mixedconcrete 260 436 273
Asphalt andpaving 101 109 81
Total Building Materials business 1,810 1,923 1,338
Magnesia Specialties: 107 97 91
Corporate (39) 3 (6)
Total $ 1,878 $ 2,023 $ 1,423

Theabove information for 2023 and 2022 hasbeen reclassified to conformtocurrent-yearpresentation. Forthe year ended
December31, 2023, thecementproduct line reported revenues of $726 million, inclusive of $217 milliontothe readymixed
concrete productline, andgross profit of $334 million. Forthe year ended December31, 2023, the ready mixedconcrete product
line reported revenuesof $1.0billionand grossprofitof $102 million. Forthe year ended December31, 2022, thecement product
line reported revenuesof $620 million, inclusiveof $178 milliontothe readymixed concrete productline, andgross profit of $203
million. Forthe year ended December31, 2022, the ready mixedconcrete product line reported revenuesof $953 millionand gross
profitof $70 million. Revenues fromsales of cement to the ready mixedconcrete productline were previously eliminated inthe
interproduct revenuesline.

Domesticand foreign revenuesare as follows:
years ended December 31
(in millions) 2024 2023 2022
Domestic $ 6,487 $ 6,707 $ 6,078
Foreign 49 70 83
Total $ 6,536 $ 6,777 $ 6,161

024 Annual Report ♦ Page 47