Martin Marietta Materials, Inc. is an American company that supplies aggregates, cement, asphalt, and heavy building materials. It has operations spanning 26 states, Canada, and the Caribbean. In particular, Martin Marietta Materials supplies resources for the construction of roads, sidewalks, and foundations.3 Its shares trade on NYSE under the symbol MLM.1Wikipedia text CC BY-SA 4.0
Martin Marietta Materials, Inc. is an American company that supplies aggregates, cement, asphalt, and heavy building materials. It has operations spanning 26 states, Canada, and the Caribbean. In particular, Martin Marietta Materials supplies resources for the construction of roads, sidewalks, and foundations.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue101112139$6.2B in 2025+30% since 2019Gross profit101112139$1.9B in 2025+60% since 2019Operating income101112139$1.4B in 2025+62% since 2019Net income101112139$1.1B in 2025+86% since 2019
Revenue91415$1.9B in Q2 FY2026+27% since Q4 FY2025Gross profit91415$495.0M in Q2 FY2026+6% since Q4 FY2025Operating income1415$372.0M in Q2 FY2026+130% since Q1 FY2026Net income91415$251.0M in Q2 FY2026−10% since Q4 FY2025
Every line of the income statement as filed: the last 3 fiscal years (annual) or 8 quarters (quarterly), latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Revenues
$6.2B
$5.7B
$5.9B
Cost of revenues
$4.3B
$4.0B
$4.1B
Gross Profit
$1.9B
$1.6B
$1.7B
Selling, general and administrative expenses
$443.0M
$429.0M
$425.0M
Acquisition, divestiture and integration expenses
$15.0M
$50.0M
$12.0M
Other operating income, net
-$6.0M
-$1.3B
-$25.0M
Earnings from Operations
$1.4B
$2.5B
$1.3B
Interest expense
$230.0M
$169.0M
$165.0M
Other nonoperating income, net
-$19.0M
-$56.0M
-$58.0M
Earnings from continuing operations before income tax expense
$1.2B
$2.4B
$1.2B
Income tax expense
$236.0M
$550.0M
$234.0M
Earnings from continuing operations
$990.0M
$1.8B
$992.0M
Earnings from discontinued operations, net of income tax expense
$147.0M
$180.0M
$178.0M
Consolidated net earnings
$1.1B
$2.0B
$1.2B
Less: Net earnings attributable to noncontrolling interests
$0
$1.0M
$1.0M
Net Earnings Attributable to Martin Marietta
$1.1B
$2.0B
$1.2B
Basic from continuing operations attributable to common shareholders
$16
$30
$16
Basic from discontinued operations attributable to common shareholders
$2
$3
$3
Total basic attributable to common shareholders
$18.81
$32.50
$18.88
Diluted from continuing operations attributable to common shareholders
$16
$30
$16
Diluted from discontinued operations attributable to common shareholders
$2
$3
$3
Total diluted attributable to common shareholders
$18.77
$32.41
$18.82
Basic
60.5M shares
61.4M shares
61.9M shares
Diluted
60.6M shares
61.6M shares
62.1M shares
Period ending
2025-12-31
2025-09-30
2025-06-30
2025-03-31
2024-12-31
2024-09-30
2024-06-30
2024-03-31
Revenues
$1.5B
$1.8B
$1.6B
$1.2B
$1.4B
$1.6B
$1.6B
$1.1B
Gross Profit
$468.0M
$611.0M
$496.0M
$314.0M
$424.0M
$513.0M
$449.0M
$250.0M
Earnings from continuing operations
$233.0M
$361.0M
$292.0M
$104.0M
$248.0M
$297.0M
$241.0M
$1.0B
Consolidated net earnings
$279.0M
$414.0M
$328.0M
$116.0M
$294.0M
$363.0M
$294.0M
$1.0B
Net Earnings Attributable to Martin Marietta
$279.0M
$414.0M
$328.0M
$116.0M
$294.0M
$363.0M
$293.0M
$1.0B
Total assets101112139$18.7B in 2025+85% since 2019Total liabilities16101112139$8.7B in 2025+82% since 2019Shareholders’ equity16101112139$10.0B in 2025+87% since 2019Cash101112139$67.0M in 2025+219% since 2019Long-term debt16101112139$5.3B in 2025+117% since 2019
Total assets1415$21.3B in Q2 FY2026+14% since Q1 FY2025Total liabilities1415$9.8B in Q2 FY2026+12% since Q1 FY2025Shareholders’ equity1415$11.5B in Q2 FY2026+15% since Q1 FY2025Cash1415$112.0M in Q2 FY2026+67% since Q1 FY2025Long-term debt1415$5.1B in Q2 FY2026−4% since Q1 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Cash and cash equivalents
$67.0M
$670.0M
$1.3B
Accounts receivable, net
$723.0M
$678.0M
Inventories, net
$1.1B
$1.0B
Current assets held for sale
$1.2B
$15.0M
Other current assets
$95.0M
$68.0M
Total Current Assets
$3.2B
$2.4B
Property, plant and equipment, net
$10.3B
$9.7B
Goodwill
$3.6B
$3.4B
$3.4B
Other intangibles, net
$459.0M
$477.0M
Operating lease right-of-use assets, net
$367.0M
$366.0M
Noncurrent assets held for sale
$0
$1.2B
Other noncurrent assets
$788.0M
$646.0M
Total Assets
$18.7B
$18.2B
Accounts payable
$389.0M
$375.0M
Accrued salaries, benefits and payroll taxes
$100.0M
$73.0M
Accrued income taxes
$5.0M
$102.0M
Accrued other taxes
$46.0M
$45.0M
Current maturities of long-term debt
$30.0M
$125.0M
Current operating lease liabilities
$62.0M
$55.0M
Unpaid commitments to limited liability companies
$51.0M
$44.0M
Other current liabilities
$212.0M
$183.0M
Total Current Liabilities
$895.0M
$1.0B
Long-term debt
$5.3B
$5.3B
Deferred income taxes, net
$1.3B
$1.2B
Noncurrent operating lease liabilities
$320.0M
$327.0M
Other noncurrent liabilities
$903.0M
$928.0M
Total Liabilities
$8.7B
$8.7B
Common stock ($0.01 par value; 100,000,000 shares authorized; 60,309,739 shares and 61,126,646 shares outstanding at December 31 , 2025 and 2024, respectively)
$1.0M
$1.0M
Preferred stock ($0.01 par value; 10,000,000 shares authorized; no shares outstanding)
$0
$0
Additional paid-in capital
$3.6B
$3.5B
Accumulated other comprehensive earnings (loss)
$60.0M
-$13.0M
Retained earnings
$6.4B
$5.9B
Total Shareholders Equity
$10.0B
$9.5B
Noncontrolling interests
$2.0M
$3.0M
Total Equity
$10.0B
$9.5B
$8.0B
$7.2B
Total Liabilities and Equity
$18.7B
$18.2B
Common stock, par value
$0.01
$0.01
Common stock, shares authorized
100.0M shares
100.0M shares
Common stock, shares outstanding
60.3M shares
61.1M shares
Common stock, shares issued
60.3M shares
61.1M shares
Preferred stock, par value
$0.01
$0.01
Preferred stock, shares authorized
10.0M shares
10.0M shares
Preferred stock, shares outstanding
0 shares
0 shares
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Cash and cash equivalents
$67.0M
$670.0M
$1.3B
Accounts receivable, net
$723.0M
$678.0M
Inventories, net
$1.1B
$1.0B
Current assets held for sale
$1.2B
$15.0M
Other current assets
$95.0M
$68.0M
Total Current Assets
$3.2B
$2.4B
Property, plant and equipment, net
$10.3B
$9.7B
Goodwill
$3.6B
$3.4B
$3.4B
Other intangibles, net
$459.0M
$477.0M
Operating lease right-of-use assets, net
$367.0M
$366.0M
Noncurrent assets held for sale
$0
$1.2B
Other noncurrent assets
$788.0M
$646.0M
Total Assets
$18.7B
$18.2B
Accounts payable
$389.0M
$375.0M
Accrued salaries, benefits and payroll taxes
$100.0M
$73.0M
Accrued income taxes
$5.0M
$102.0M
Accrued other taxes
$46.0M
$45.0M
Current maturities of long-term debt
$30.0M
$125.0M
Current operating lease liabilities
$62.0M
$55.0M
Unpaid commitments to limited liability companies
$51.0M
$44.0M
Other current liabilities
$212.0M
$183.0M
Total Current Liabilities
$895.0M
$1.0B
Long-term debt
$5.3B
$5.3B
Deferred income taxes, net
$1.3B
$1.2B
Noncurrent operating lease liabilities
$320.0M
$327.0M
Other noncurrent liabilities
$903.0M
$928.0M
Total Liabilities
$8.7B
$8.7B
Common stock ($0.01 par value; 100,000,000 shares authorized; 60,309,739 shares and 61,126,646 shares outstanding at December 31 , 2025 and 2024, respectively)
$1.0M
$1.0M
Preferred stock ($0.01 par value; 10,000,000 shares authorized; no shares outstanding)
$0
$0
Additional paid-in capital
$3.6B
$3.5B
Accumulated other comprehensive earnings (loss)
$60.0M
-$13.0M
Retained earnings
$6.4B
$5.9B
Total Shareholders Equity
$10.0B
$9.5B
Noncontrolling interests
$2.0M
$3.0M
Total Equity
$10.0B
$9.5B
$8.0B
$7.2B
Total Liabilities and Equity
$18.7B
$18.2B
Common stock, par value
$0.01
$0.01
Common stock, shares authorized
100.0M shares
100.0M shares
Common stock, shares outstanding
60.3M shares
61.1M shares
Common stock, shares issued
60.3M shares
61.1M shares
Preferred stock, par value
$0.01
$0.01
Preferred stock, shares authorized
10.0M shares
10.0M shares
Preferred stock, shares outstanding
0 shares
0 shares
Cash from operations101112139$1.8B in 2025+85% since 2019Capital spending101112139$807.0M in 2025+105% since 2019Free cash flow101112139$978.0M in 2025+71% since 2019Dividends paid101112139$197.0M in 2025+52% since 2019Share buybacks101112139$450.0M in 2025+358% since 2019
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Consolidated net earnings
$1.1B
$2.0B
$1.2B
Depreciation, depletion and amortization
$637.0M
$573.0M
$513.0M
Stock-based compensation expense
$46.0M
$58.0M
$50.0M
Net gains on divestitures and sales of assets
-$25.0M
-$1.4B
-$2.0M
Deferred income taxes, net
$69.0M
-$45.0M
-$36.0M
Asset and portfolio rationalization charges
$21.0M
$50.0M
$0
Other items, net
-$8.0M
-$15.0M
-$16.0M
Accounts receivable, net
-$51.0M
$81.0M
$31.0M
Inventories, net
-$30.0M
-$52.0M
-$189.0M
Accounts payable
$21.0M
$17.0M
-$17.0M
Other assets and liabilities, net
-$32.0M
$165.0M
$24.0M
Net Cash Provided by Operating Activities
$1.8B
$1.5B
$1.5B
Additions to property, plant and equipment
-$807.0M
-$855.0M
-$650.0M
Acquisitions, net of cash acquired
-$685.0M
-$3.6B
$0
Proceeds from divestitures and sales of assets
$38.0M
$2.2B
$427.0M
Proceeds from sale of restricted investments to discharge long term debt
$0
$0
$700.0M
Investments in limited liability companies
-$128.0M
-$117.0M
-$27.0M
Other investing activities, net
-$6.0M
$10.0M
$9.0M
Net Cash (Used for) Provided by Investing Activities
-$1.6B
-$2.4B
$459.0M
Proceeds from borrowings
$640.0M
$2.8B
$0
Repayments of debt
-$735.0M
-$1.7B
-$700.0M
Payments on finance lease obligations
-$23.0M
-$20.0M
-$17.0M
Dividends paid
-$197.0M
-$189.0M
-$174.0M
Repurchases of common stock
-$450.0M
-$450.0M
-$150.0M
Shares withheld for employees income tax obligations
-$31.0M
-$32.0M
-$22.0M
Other financing activities, net
-$4.0M
-$4.0M
-$1.0M
Net Cash (Used for) Provided by Financing Activities
-$800.0M
$373.0M
-$1.1B
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash
Martin Marietta Materials sits at the top of its group. 8 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Martin Marietta Materials
LNA Holding SRLFiled SCHEDULE 13D on Martin Marietta Materials, latest Aug 24, 2026
State Street CorporationFiled SCHEDULE 13G on Martin Marietta Materials, latest Aug 7, 2026 (2 filings since Feb 9, 2022)
Select Equity Group, L.P.Filed SC 13G/A on Martin Marietta Materials, latest Feb 14, 2024 (3 filings since Feb 14, 2022)
BlackRockFiled SC 13G/A on Martin Marietta Materials, latest Jan 26, 2024 (3 filings since Feb 1, 2022)
BAILLIE GIFFORD & COFiled SC 13G/A on Martin Marietta Materials, latest Mar 3, 2023 (3 filings since Jan 20, 2022)
Martin Marietta MaterialsRaleigh, North Carolina, United States
1560947 B.C. LTD., a Subsidiary · British Columbia, Canada
Frazier Quarry, Inc. Subsidiary · Raleigh, North Carolina, United States
Martin Marietta Kansas City, LLC is owned 95% by Martin Marietta Materials, Inc. and 5% by Martin Marietta Materials of Subsidiary · Missouri, United States
Martin Marietta Materials Canada Limited, a Subsidiary · Nova Scotia, Canada
Martin Marietta Materials, Inc. Defined Benefit Plans Master Retirement Trust Subsidiary · Raleigh, North Carolina, United States
Martin Marietta Pension Plan Subsidiary · Raleigh, North Carolina, United States
PCAz Leasing, LLC is a wholly owned subsidiary of Martin Marietta Subsidiary · Arizona, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Martin Marietta Materials reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
As of December 31, 2025, the Company processed or shipped aggregates from 400 quarries, mines and distribution yards in 28 states, Canada and The Bahamas. No individual quarry or mine is material to the Company’s business or financial condition. The Company’s aggregates reserves, on average, represent approximately 85 years at the 2025 annual production level. However, certain locations may be subject to more limited reserves and may not be able to expand. As of December 31, 2025, the Company operated 89 aggregates distribution yards.
In total, aggregates locations (quarries, mines and distribution yards) include 194 located on land owned by the Company free of major encumbrances, 126 on leased land, 64 on land owned in part and leased in part and 16 on facilities neither owned nor leased where raw materials are removed pursuant to contractual agreements.
The rest of Item 2
In addition, as of December 31, 2025, the Company processed and shipped ready mixed concrete and asphalt products from 112 properties in five states, of which 86 are located on land owned by the Company free of major encumbrances, 24 are on leased land and two are on land owned in part and leased in part. Of this total, 58 ready mixed concrete plants located in Texas are classified as assets held for sale as of December 31, 2025.
An overview of the Company’s quarrying and mining operations is included in Business—Building Materials Business and Business—Environmental and Governmental Regulations included in Item 1, Business of this Form 10-K, which is incorporated herein by reference. The following map presents the locations of these quarries and underground mines as of December 31, 2025:
Mineral reserves and mineral resources for the Company’s aggregates and cement businesses have been prepared in accordance with the disclosure requirements of subpart 1300 of U.S. Securities and Exchange Commission Regulation S-K. Mineral resources represent concentrations or occurrences of material of economic interest in or on the Earth's crust in such form, grade or quality, and quantity that there are reasonable prospects for economic extraction. A mineral resource is a reasonable estimate of mineralization, considering relevant factors such as cut-off grade, likely mining dimensions, location or continuity, that, with the assumed and justifiable technical and economic conditions, is likely to, in whole or in part, become economically extractable. A measured mineral resource is that part of the mineral resource for which quantity and grade or quality are estimated on the basis of conclusive geological evidence and sampling in sufficient detail to support detailed extraction planning and final evaluation of the economic viability of the deposit to be quarried or mined. An indicated mineral resource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of adequate geological evidence and sampling in sufficient detail to support mine planning and evaluation of the economic viability of the deposit of the material to be quarried or mined. Inferred mineral resources are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling.
A mineral reserve is an estimate of tonnage and grade or quality of indicated and measured mineral resources that, in the opinion of the qualified person, can be the basis of an economically viable project. More specifically, it is the economically mineable part of a measured or indicated mineral resource, which includes diluting materials and allowances for losses that may occur when the material is mined or extracted. A probable mineral reserve is the economically mineable part of an indicated and, in some cases, a measured mineral resource. A proven mineral reserve is the economically mineable part of a measured mineral resource and results only from the conversion of a measured mineral resource. The Company estimates proven and probable mineral reserves based on the results of drilling and testing completed by or under the supervision of qualified persons.
The Company uses various exploratory drilling methods, depending on the type of deposit, to estimate mineral reserves that are economically mineable. The extent of drilling varies depending on the complexity of the mineral deposit and whether the location is a potential new site (greensite), an existing location or a potential acquisition. More extensive drilling is performed for potential greensites and acquisitions, and, in certain cases, the Company may rely on existing geological data or results of prior drilling by reputable third parties. Subsequent to drilling, selected drill samples are tested by an accredited laboratory for soundness, abrasion resistance and other physical properties relevant to the aggregates industry. If the mineral reserves meet the Company’s standards and are economically mineable, they are either leased or purchased. Once in operation, routine quality control testing is performed to ensure the quality grade of aggregates continues to meet specifications.
The present-day materials business is distantly descended from Superior Stone, an aggregates company founded in 1939 by brothers Willam Trent Ragland and Edmond Ragland in Raleigh, North Carolina. In 1959, the company, led by William Trent Ragland as president, merged with the American-Marietta Corporation, which merged with the Glenn L. Martin Company a year later to form the Martin Marietta Corporation in 1961. In 1971, Martin Marietta acquired Harvey Aluminum, a company which made aluminum oxide, aluminum ingot and aircraft grade aluminum sheet. William Trent Ragland continued as CEO until 1977, after retiring and becoming Emeritus Senior Vice President. Martin Marietta merged with Lockheed Corporation in 1995, and a year later, Martin Marietta Materials was spun off as an independent company, with Lockheed Martin retaining various aerospace, defense, and other manufacturing lines of business.
In 2014, the company acquired Texas Industries for $2 billion.
Martin Marietta's Magnesia Specialties business provides a full range of magnesium oxide, magnesium hydroxide, and dolomitic lime products.
Apr 30, 2025Reported quarterly or annual results88
Apr 10, 2025Reported quarterly or annual results89
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
445 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 70 major events, 287 insider forms, 23 large holders, 45 other. The latest 20:
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How Martin Marietta Materials is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
AuditorPricewaterhouseCoopers LLP, Raleigh, North Carolina, United States PCAOB ID 238; it also attests to the company’s internal control over financial reporting17
From the cover page of the 10-K filed Feb 19, 2026 (Section 12(b) of the Exchange Act).17
Risk factors and legal proceedings
The risks Martin Marietta Materials names in Item 1A of its 10-K filed Feb 19, 2026: 32 risks under these headings, as written.17
Industry Risk Factors
Our business depends on construction activity, which is cyclical and sensitive to macroeconomic, funding and operating conditions.
Widespread declines in aggregates pricing could adversely affect our business, financial condition, and results of operations.
Our Building Materials business is seasonal and sensitive to weather and climate-related conditions that can significantly disrupt operations, shipments and demand.
Competition and Growth Risk Factors
Our Building Materials business depends on identifying, acquiring, permitting and developing quality aggregates reserves within an economic haul radius and our ability to mine and transport those reserves.
Our future growth depends in part on disciplined acquisitions and strategic investments, and we may use shares of our common stock as consideration.
Integrating acquired businesses may be more difficult, costly, or time-consuming than expected, and we may not realize anticipated benefits.
Acquisitions and divestitures may not occur on expected terms or timelines, may be more costly or complex than anticipated, and may not deliver expected benefits.
Economic, Political and Legal Risk Factors
Changes in laws, regulations, and enforcement practices, including zoning, land use, the environment, health and safety, as well as litigation relating to these matters, affect our businesses. Our operations expose us to the risk of material environmental liabilities.
Litigation and other legal proceedings are inherent in our operations and could result in significant costs or liabilities.
The other 23 risks
Legislation, regulation, and policy initiatives addressing climate change and the transition to a low-carbon economy may increase our costs, constrain operations, or alter customer demand, which could adversely impact our business and financial results.
Sustained high or rising interest may reduce construction demand, increase our financing costs, and adversely affect our results of operations and financial condition.
Changes in tax laws, interpretations, enforcement practices, and our business mix could increase our effective income tax rate, reduce deferred tax assets, or otherwise adversely affect our results of operations and cash flows.
Investor and stakeholder focus on climate change and sustainability matters and any related reporting obligations may increase our costs and impact our businesses.
Public health events including outbreaks of disease, epidemics, or pandemics, or fears of such an event and related governmental, societal and market responses could adversely affect our operations, demand for our products, costs, and financial results.
Personnel Risks
Labor disputes could disrupt operations of our businesses.
We depend on the recruitment and retention of qualified personnel, and our failure to attract and retain such personnel could adversely affect our business, disrupt our operations or increase costs.
Our reputation, ability to do business and results of operations could be impaired by improper conduct by any of our employees, agents or business partners.
Financial, Accounting and Cost Management Risk Factors
Our business requires significant and sustained capital investment; delays, cost increases, or underperformance on capital projects, or constraints on funding, could adversely affect our operations, competitiveness, and financial results.
Unexpected equipment failures, catastrophic events and scheduled maintenance may lead to production curtailments or shutdowns.
Our earnings are affected by the application of accounting standards and our critical accounting policies, which involve subjective judgments and estimates by our management. Our estimates and assumptions could be wrong.
The adoption of new accounting standards may affect our financial results.
Impairment charges could have a material adverse effect on our financial results.
Credit-market stress and tighter financing conditions could reduce construction demand, slow customer payments, constrain our liquidity, and increase our cost of capital.
Our Specialties business faces currency risks from its overseas activities.
Our ready-mixed concrete, asphalt and paving operations present additional risks to our business.
Investment returns on our pension assets may be lower than expected, or interest rates may decline, requiring us to make significant additional cash contributions to our benefit plans.
Suppliers, Raw Materials and Energy Costs Risk Factors
Volatility or shortages in fuel, energy and raw materials can increase costs, disrupt operations, and adversely affect our results.
Cement is sensitive to supply and price volatility.
Our Specialties business depends in part on the steel industry and the supply of reasonably priced fuels.
Cyber and Information Security Risk Factors
We depend on information technology; cybersecurity, data-protection, and systems-reliability risks — including at our third party vendors — could disrupt operations, compromise data, increase costs, or otherwise adversely affect our business and results.
Other Risk Factors
Delays or interruptions in shipping products of our businesses could affect our operations.
Our articles of incorporation and bylaws and North Carolina law may inhibit a change in control that you may favor.
Legal proceedings
From time to time, claims of various types are asserted against the Company arising out of its operations in the normal course of business, including claims relating to land use and permits, safety, health, and environmental matters (such as noise abatement, blasting, vibrations, air emissions and water discharges). Such matters are subject to many uncertainties, and it is not possible to determine the probable outcome of, or the amount of liability, if any, from these matters. In the opinion of management of the Company (which opinion is based in part upon consideration of the opinion of counsel), based upon currently-available facts, it is remote that the ultimate outcome of any litigation and other proceedings will have a material adverse effect on the overall results of the Company's operations, its cash flows or its financial condition. However, management cannot assure that an adverse outcome in any of such litigation would not have a material adverse effect on the Company or its operating segments.
The Company was not required to pay any penalties in 2025 for failure to disclose certain “reportable transactions” under Section 6707A of the Internal Revenue Code.
See also Note N: Commitments and Contingencies of the Notes to Financial Statements of the Company’s consolidated financial statements included under Item 8, Financial Statements and Supplemental Data of this Form 10-K and the Environmental Regulation and Litigation section included under Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations of this Form 10-K.