Page 123 - Martin Marietta - 2024 Sustainability Report

Appendix

Appendix

Non-GAAP Measures

Non-GAAP financial measures disclosed by management are provided as additional information to investors in order to
provide them with an alternative method for assessing our financial condition and operating results, and are often
requested by investors. These measures are not in accordance with, or a substitute for, generally accepted accounting
principles (GAAP) and may be different from or inconsistent with non-GAAP financial measures used by other companies.
Adjusted EBITDA is an indicator used by the Company and investors to evaluate the Company’s operating performance
period to period.
EBITDA is a widely accepted financial indicator of a company’s ability to service and/or incur indebtedness. EBITDA is not
defined by GAAP and, as such, should not be construed as an alternative to earnings from operations, net earnings or
operating cash flow.
The following presents a reconciliation of net earnings from continuing operations attributable to Martin Marietta to
consolidated Adjusted EBITDA for continuing operations for the years ended December 31, 2024, 2023 and 2022.
Consolidated Adjusted EBITDA for year ended December 31:
(dollars in millions) 2024 2023 2022
Net Earnings from continuing operations Attributable to Martin Marietta $ 1,995 $1,199 $ 856
Add back:
Interest expense, net of interest income 128 118 155
Income tax expense for controlling interests 600 292 234
Depreciation, depletion and amortization expense and earnings/loss from nonconsolidated
equity affiliates 564 504 496
Acquisition-related expenses 40 12 9
Impact of selling acquired inventory after markup to fair value as part of acquisition accounting 20 –
Nonrecurring gain on divestiture (1,331) 0.00 (151)
Noncash asset and portfolio charge 50
Consolidated Adjusted EBITDA from continuing operations $ 2,066 $2,127 $1,600

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