Page 173 - Martin Marietta - 2025 Proxy Statement

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

The following table presents revenues for the Company and its reportable segments by productline for continuing operations:
years ended December 31
(in millions) 2024 2023
BuildingMaterials business:
st Group:
gregates $ 2,787 $ 2,593
Asphalt 184 199
Less: interproduct revenues (30) (29)
East Group Total 2,941 2,763
West Group:
Aggregates 1,727 1,709
Cement and ready mixedconcrete 1,083 1,518
Asphalt andpaving services 685 688
Less: interproduct revenues (220) (216)
West Group Total 3,275 3,699
Total BuildingMaterials business 6,216 6,462
Magnesia Specialties 320 315
Total $ 6,536 $ 6,777

Gross Profit
The following tablepresentsgross profit andgross margin data forthe Company byproductline for continuing operations:
2024 2023
years ended December 31 %of %of
(dollars in millions) Amount Revenues Amount Revenues
BuildingMaterials business:
Aggregates $ 1,449 32% $ 1,378 32%
Cement and ready mixedconcrete 260 24% 436 29%
Asphalt andpaving services 101 12% 109 12%
Total BuildingMaterials business 1,810 29% 1,923 30%
Magnesia Specialties 107 33% 97 31%
Corporate (39) NM 3 NM
Total $ 1,878 29% $ 2,023 30%

Thedecrease in BuildingMaterials businessgross profit in 2024 compared with 2023 was primarily attributable to the
Divestitureand the $20 million Inventory Markup charge associated with the BWI Southeastacquisition,partially offset by
pricing gainsacrossall productlines andlower energy costs. Aggregates gross profit increased due to contributions from
acquired operations andpricing growth,despite lowershipments andthe Inventory Markup.
The increase ingross profit in Magnesia Specialties was driven by pricinggains in both thelimeand chemical productlines,
coupled with lowerenergy costs,which more than offset lowershipments.
Corporate gross profit includes intercompanyroyalty and rental revenuesand expenses;depreciationand amortization for
corporate ownedassets; and unallocatedoperational expenses excluded fromthe Company’sevaluationof businesssegment
performance.

2024 Annual Report ♦ Page 65