VULCAN MATERIALS COMPANY VMC Income Statement

Vulcan materials company (VMC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08	Jun'08
Product sales
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	746,392	696,078	504,554	-	687,616	648,890	499,851	578,189	714,947	657,457	456,316	548,832	699,792	692,758	464,534	555,768	738,664	681,380	567,895	958,839	965,957
Freight and delivery revenues
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	67,176	42,655	33,608	-	41,245	45,246	36,031	36,438	45,805	44,514	30,884	37,410	43,412	43,394	28,730	34,377	39,528	40,479	32,399	54,510	55,594
Total revenues
1,049,242	1,186,152	1,418,758	1,327,682	996,511	1,088,047	1,240,197	1,200,151	854,474	977,490	1,094,715	1,030,763	787,328	872,974	1,008,140	956,825	754,728	857,285	1,038,460	895,143	631,293	755,027	873,579	791,143	574,420	680,246	813,568	738,733	538,162	608,431	728,861	694,136	535,882	614,627	760,752	701,971	487,200	586,242	743,204	736,152	493,264	590,145	778,192	721,859	600,294	1,013,349	1,021,551
Cost of goods sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	563,183	486,899	-	560,693	542,951	477,893	503,834	599,167	556,617	463,422	498,082	573,045	570,423	463,640	487,727	584,184	535,546	490,288	757,993	720,731
Delivery costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	42,655	33,608	-	41,245	45,246	36,031	36,438	45,805	44,514	30,884	37,410	43,412	43,394	28,730	34,377	39,528	40,479	32,399	54,510	55,594
Cost of revenues
847,519	893,071	1,018,115	957,180	804,836	812,762	897,055	876,967	695,140	735,973	790,957	740,746	629,107	645,200	703,931	664,641	590,010	603,356	747,170	660,694	553,428	585,367	664,537	616,355	540,328	562,899	654,585	605,838	520,507	529,225	601,938	588,197	513,924	540,272	644,972	601,131	494,306	535,492	616,457	613,817	492,370	522,104	623,712	576,025	522,687	812,503	776,325
Gross profit
201,723	293,081	400,643	370,502	191,675	275,285	343,142	323,184	159,334	241,517	303,758	290,017	158,221	227,774	304,209	292,184	164,718	253,929	291,290	234,449	77,865	169,660	209,042	174,788	34,092	117,347	158,983	132,895	17,655	79,206	126,923	105,939	21,958	74,355	115,780	100,840	-7,106	50,750	126,747	122,335	894	68,041	154,480	145,834	77,607	200,846	245,226
Selling, administrative and general expenses
86,430	95,802	88,789	95,689	90,268	84,382	81,606	89,043	78,340	85,921	73,612	83,056	82,383	81,309	76,311	82,681	76,468	79,494	71,390	69,197	66,763	72,480	66,074	67,615	66,119	64,016	65,854	64,902	64,655	66,873	65,441	61,914	64,912	71,395	67,020	74,062	77,516	80,106	77,560	83,376	86,495	82,980	79,558	79,353	79,717	76,364	84,781
Gain on sale of property, plant & equipment and businesses
999	12,770	234	3,451	7,297	6,570	2,104	2,106	4,164	13,197	1,488	2,773	369	12,497	2,023	356	555	2,504	799	249	6,375	5,694	1,002	1,162	236,364	2,380	9,350	23,410	4,110	46,768	2,009	13,152	6,526	2,922	41,457	2,919	454	9,093	476	1,362	48,371	16,451	7,496	654	2,503	-2,247	-80,498
Business interruption claims recovery
-	-	-	-	-	-	-	-	-	-	-	-	-	-	690	10,962	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	1	20,857	0	25,546	0	0	-40,000	0	-	0	0	-	-	-
Impairment of long-lived assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	860	9,646	-	0	5,190	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	448	1,280	2,818	-	750	0	0	0	0	0	1,509	539	3,056	4,551	1,411	-	839	1,831	-	-	-	-	-	-	-	-	-	-	-
Exchange offer costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	49	1,206	32,060	10,065	2,227	0	0	0	-	-	-	-	-	-	-	-	-	-
Other operating expense, net
3,991	16,474	8,712	2,190	4,271	10,392	14,456	5,994	3,963	19,572	4,156	17,768	5,828	-2,303	3,535	6,175	14,238	13,638	8,045	5,255	3,900	637	2,889	5,089	9,668	1,882	2,712	4,537	5,659	2,981	3,363	904	-1,625	-1,117	3,567	4,378	2,562	4,913	769	889	460	5,890	286	-1,451	-1,719	1,574	-2,474
Operating earnings
112,301	193,575	303,376	276,074	104,433	187,081	249,184	230,253	81,195	149,221	227,478	191,966	70,379	160,119	227,076	213,786	64,921	173,037	212,206	153,776	10,759	99,892	140,331	103,246	194,669	53,829	99,767	86,866	-50,058	55,532	55,866	19,662	-46,279	-5,528	106,668	23,488	-61,184	-29,412	50,432	1,210	-36,770	1,390	82,704	65,684	-1,326	128,303	238,469
Other nonoperating income (expense), net
-9,336	3,289	359	2,466	3,129	-300	4,890	3,339	5,071	1,629	3,793	3,890	4,045	14,299	990	29	-694	600	-2,818	-439	979	-923	-593	1,798	2,825	2,569	2,310	286	2,373	2,532	1,806	-709	3,098	2,385	-3,745	-20	1,382	1,292	1,637	-1,233	1,378	731	2,756	2,895	-1,075	-3,825	3,444
Interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	687	795	955	997
Interest expense, net
-30,773	228,321	-32,197	-33,035	-32,934	242,542	-33,547	-33,244	-37,774	450,094	-82,041	-38,455	-34,076	234,267	-33,126	-33,333	-33,732	404,519	-37,800	-83,651	-62,480	444,898	-40,891	-40,551	-120,089	355,347	-49,134	-50,873	-52,752	372,063	-53,043	-53,687	-52,266	56,789	50,678	70,911	42,250	47,060	47,526	43,723	43,294	43,751	43,519	44,073	43,919	44,579	38,193
Earnings from continuing operations before income taxes
72,192	166,030	271,538	245,505	74,628	153,923	220,527	200,348	48,492	14,337	149,230	157,401	40,348	141,340	194,940	180,482	30,495	137,325	171,588	69,686	-50,742	58,093	98,847	64,493	77,405	7,512	52,943	36,279	-100,437	5,134	4,629	-34,734	-95,447	-56,488	52,245	-47,443	-102,052	-74,317	4,543	-43,746	-78,686	-40,830	41,941	25,193	-45,525	80,854	204,717
Income tax expense (benefit)
Income tax expense
12,194	23,435	53,472	47,598	10,693	29,643	40,663	40,046	-4,903	-313,632	39,080	45,652	-3,175	33,277	49,803	53,241	-11,470	43,765	45,386	19,867	-14,075	19,744	31,066	17,982	22,900	-2,585	10,793	6,151	-38,818	646	-10,992	-17,749	-38,397	-30,545	29,833	-40,341	-37,430	-28,172	-6,048	-21,231	-34,212	-28,248	-5,983	9,632	-13,270	21,038	63,492
Earnings from continuing operations
59,998	142,595	218,066	197,907	63,935	124,280	179,864	160,302	53,395	327,969	110,150	111,749	43,523	108,063	145,137	127,241	41,965	93,560	126,202	49,819	-36,667	38,349	67,781	46,511	54,505	10,097	42,150	30,128	-61,619	4,488	15,621	-16,985	-57,050	-25,943	22,412	-7,102	-64,622	-46,145	10,591	-22,515	-44,474	-12,582	47,924	15,561	-32,255	59,816	141,225
Earnings (loss) on discontinued operations, net of tax
260	-1,503	-2,353	-349	-636	-257	-713	-650	-416	-423	-1,571	8,390	1,398	4,537	-3,113	-2,532	-1,807	-4,672	-2,397	-1,657	-3,011	-327	-842	-544	-510	-1,014	-787	-1,356	6,783	-1,005	-1,361	-1,298	4,997	-1,922	-2,453	-1,037	9,889	-852	2,655	-1,477	5,727	-768	6,308	6,651	-525	-766	-470
Net earnings
60,258	141,092	215,713	197,558	63,299	124,023	179,151	159,652	52,979	327,546	108,579	120,139	44,921	112,600	142,024	124,709	40,158	88,888	123,805	48,162	-39,678	38,022	66,939	45,967	53,995	9,083	41,363	28,772	-54,836	3,483	14,260	-18,283	-52,053	-27,865	19,959	-8,139	-54,733	-46,997	13,246	-23,992	-38,747	-13,350	54,232	22,212	-32,780	59,050	140,755
Other comprehensive income, net of tax
Deferred loss on interest rate derivative
-14,680	0	0	0	0	0	0	0	2,496	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of prior interest rate derivative loss
-794	-59	-57	-56	-55	-55	-53	-52	-66	-26	-1,188	-328	-320	-292	-307	-301	-294	-221	-282	-3,077	-2,248	-689	-598	-584	-2,985	-624	-679	-835	-854	-	-975	-955	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Adjustment for funded status of benefit plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	71,993	0	0	-2,942	-51,584	0	-60,299	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of actuarial loss and prior service cost for benefit plans
1,695	285	286	336	235	1,091	1,091	1,092	1,091	873	427	427	427	22	20	20	20	13,480	3,883	-2,697	-2,681	3,119	-1,114	-1,115	1,222	-2,037	-2,111	-3,431	-3,432	-8,881	-3,084	-3,084	3,084	-9,871	1,885	-1,941	2,217	905	963	823	899	-	-	-	-	-	-
Other comprehensive income (loss)
-12,191	-26,548	343	392	290	939	1,144	1,144	3,653	-13,207	1,615	755	747	-20,269	327	321	314	26,777	4,165	5,774	4,929	-70,199	1,712	1,699	4,705	54,245	2,790	64,565	4,286	-20,793	4,059	4,039	4,022	-51,901	2,785	5,944	3,667	6,490	3,629	3,592	3,308	-	-	-	-	-	-
Fair value adjustments to cash flow hedges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	56	-183	124	-478	-	-	-	-	-	-
Reclassification adjustment for cash flow hedges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	938	-	900	4,003	-1,450	19,090	-2,849	-2,645	-2,887	-	-	-	-	-	-
Comprehensive income
48,067	114,544	216,056	197,950	63,589	124,962	180,295	160,796	56,632	314,339	110,194	120,894	45,668	92,331	142,351	125,030	40,472	115,665	127,970	53,936	-34,749	-32,177	68,651	47,666	58,700	63,328	44,153	93,337	-50,550	-17,310	18,319	-14,244	-48,031	-79,766	22,744	-2,195	-51,066	-40,507	16,875	-20,400	-35,439	-	-	-	-	-	-
Basic earnings (loss) per share
Continuing operations
0.45	1.08	1.65	1.50	0.48	0.94	1.36	1.21	0.40	2.48	0.83	0.84	0.33	0.82	1.09	0.95	0.31	0.71	0.95	0.37	-0.28	0.30	0.51	0.35	0.42	0.08	0.32	0.23	-0.47	0.03	0.12	-0.13	-0.44	-0.20	0.17	-0.05	-0.50	-0.35	0.08	-0.18	-0.35	-0.07	0.38	0.14	-0.29	0.54	1.28
Discontinued operations
0.00	-0.01	-0.02	-0.01	0.00	0.00	-0.01	0.00	0.00	-0.01	-0.01	0.07	0.01	0.03	-0.02	-0.02	-0.01	-0.04	-0.02	-0.01	-0.02	-0.01	0.00	0.00	-0.01	-0.01	0.00	-0.01	0.05	-0.01	-0.01	-0.01	0.04	-0.02	-0.02	-0.01	0.08	0.00	0.02	-0.01	0.04	-0.01	0.05	0.06	-0.01	0.00	0.00
Net earnings
0.45	1.07	1.63	1.49	0.48	0.94	1.35	1.21	0.40	2.47	0.82	0.91	0.34	0.85	1.07	0.93	0.30	0.67	0.93	0.36	-0.30	0.29	0.51	0.35	0.41	0.07	0.32	0.22	-0.42	0.02	0.11	-0.14	-0.40	-0.22	0.15	-0.06	-0.42	-0.35	0.10	-0.19	-0.31	-0.08	0.43	0.20	-0.30	0.54	1.28
Diluted earnings (loss) per share
Continuing operations
0.45	1.08	1.63	1.48	0.48	0.93	1.34	1.20	0.40	2.43	0.82	0.83	0.32	0.80	1.07	0.93	0.31	0.70	0.93	0.37	-0.28	0.29	0.51	0.35	0.41	0.08	0.32	0.23	-0.47	0.03	0.12	-0.13	-0.44	-0.20	0.17	-0.05	-0.50	-0.35	0.08	-0.18	-0.35	-0.07	0.38	0.14	-0.29	0.54	1.27
Discontinued operations
0.00	-0.03	-0.01	0.00	0.00	0.00	0.00	-0.01	-0.01	0.00	-0.01	0.06	0.01	0.02	-0.02	-0.01	-0.01	-0.03	-0.02	-0.01	-0.02	-0.01	-0.01	0.00	0.00	0.00	-0.01	-0.01	0.05	-0.01	-0.01	-0.01	0.04	-0.02	-0.02	-0.01	0.08	0.00	0.02	-0.01	0.04	-0.01	0.05	0.06	-0.01	-0.01	0.00
Net earnings
0.45	1.05	1.62	1.48	0.48	0.93	1.34	1.19	0.39	2.43	0.81	0.89	0.33	0.82	1.05	0.92	0.30	0.67	0.91	0.36	-0.30	0.28	0.50	0.35	0.41	0.08	0.31	0.22	-0.42	0.02	0.11	-0.14	-0.40	-0.22	0.15	-0.06	-0.42	-0.35	0.10	-0.19	-0.31	-0.08	0.43	0.20	-0.30	0.53	1.27
Weighted-average common shares outstanding
Basic
132,567	132,474	132,414	132,269	132,043	132,053	132,392	132,437	132,690	132,519	132,484	132,413	132,636	132,561	133,019	133,419	133,821	133,604	133,474	133,103	132,659	132,088	131,797	131,149	130,810	130,386	130,266	130,250	130,186	129,958	129,753	129,676	129,593	129,507	129,493	129,446	129,078	128,738	128,602	128,168	126,692	126,128	125,361	113,477	110,598	110,114	109,922
Assuming dilution
133,259	133,757	133,375	133,354	133,054	133,400	133,894	134,051	134,359	135,044	134,765	134,735	134,968	135,029	135,823	136,208	136,100	136,921	135,558	135,234	132,659	133,405	133,369	132,876	132,314	133,030	131,320	131,332	130,186	129,496	130,215	129,676	129,593	129,232	129,768	129,446	129,078	128,430	128,910	128,168	126,692	127,434	125,859	113,829	110,598	111,270	111,117
Cash dividends per share of common stock
-	-	-	-	-	-	-	-	-	-	-	0.25	0.25	-	0.20	0.20	0.20	-	0.10	0.10	0.10	-	0.06	0.05	0.05	-	0.01	0.01	0.01	-	0.01	0.01	0.01	-	0.25	0.25	0.25	-	0.25	0.25	0.25	0.25	0.25	0.49	0.49	0.49	0.49
Depreciation, depletion, accretion and amortization
95,480	-	96,247	93,497	89,181	-	89,390	85,633	81,439	-	79,636	76,775	71,563	-	72,049	71,908	69,406	-	69,662	68,384	66,723	-	71,157	68,323	69,378	-	78,320	76,961	75,597	-	84,108	84,116	85,167	-	90,948	92,137	90,586	-	97,697	97,280	94,197	-	99,243	99,600	99,315	98,716	96,919
Effective tax rate from continuing operations
16.90%	-	19.70%	19.40%	14.30%	-	18.40%	20.00%	-10.10%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-