Martin Marietta Materials, Inc. (NYSE:MLM) Files An 8-K Other Events
Item 8.01 Other Events.
Martin Marietta Materials, Inc. (Martin Marietta or the Company) is
filing this Current Report on Form 8-K to revise certain financial
information and related disclosures included in the Annual Report
on Form 10-K of the Company for the year ended December 31, 2016
(the 2016 Annual Report) filed with the U.S. Securities and
Exchange Commission (SEC).Effective January 1, 2017, the Company
reorganized its operating and reportable segments to align with a
structural management and related management reporting change.The
change reflects combining the Companys Cement and Southwest Ready
Mix operations in a newly created division and operating segment
under new leadership.Under the new reporting structure, the Cement
and Southwest Ready Mix Division is included in the West Group
reportable segment. to this reorganization, the Company conducts
its Building Materials Business through three reportable business
segments: Mid-America Group (aggregates product line); Southeast
Group (aggregates product line); and West Group (aggregates,
cement, ready mixed concrete and asphalt and paving product lines),
and in addition to the aforementioned Building Materials reportable
business segments, the Company also reports the Magnesia
Specialties business as a reportable segment. Prior to January 1,
2017, the Company conducted its business through five reportable
segments: (i) the Cement Business, (ii) the Magnesia Specialties
business, (iii) the Mid-America Group, (iv) the Southeast Group and
(v) the West Group (which included the Southwest Ready Mix
business), and its Aggregates business was conducted through the
latter three groups.These changes in operating and reportable
segments were applied retrospectively and did not impact
consolidated net sales, earnings from operations or net earnings
for the prior periods.In addition, effective January 1, 2017, the
Company adopted Accounting Standards Update (ASU) 2016-09,
Compensation Stock Compensation (Topic 718):Improvements to
Employee Share-Based Payment Accounting and early adopted ASU
2017-07, Improving the Presentation of Net Periodic Pension Cost
and Net Periodic Postretirement Benefit Cost.The 2016 Annual Report
is also revised to reflect the adoptions of ASU 2016-09 and ASU
2017-07 retrospectively for all periods.
This Current Report and Exhibits 99.1, 99.2, 99.3, 99.4 and 99.5
are being revised and filed solely to recast segment reporting
financial information and to reflect the retrospective changes for
all periods presented for the adoptions of ASU 2016-09 and ASU
2017-07.The following items are included as exhibits to this
Current Report on Form 8-K:
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Part I, Item 1. Business; |
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Part I, Item 1A. Risk Factors; |
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Part I, Item 2. Properties; |
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Part II, Item 7. Managements Discussion and Analysis of |
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Part II, Item 8. Financial Statements and Supplementary |
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Part IV, Item 15. Exhibits and Financial Statement |
The disclosures filed as Exhibits 99.1, 99.2, 99.3, 99.4 and 99.5
supersede the corresponding portions of the 2016 Annual Report. No
Items of the 2016 Annual Report, other than those identified above,
are being revised by this filing. Information in the 2016 Annual
Report is generally stated as of December 31, 2016 and this Current
Report does not reflect any subsequent information or events other
than the changes described above. Without limitation of the
foregoing, this filing does not purport to update the Managements
Discussion and Analysis of Financial Condition and Results of
Operations contained in the 2016 Annual Report for any information,
uncertainties, transactions, risks, events or trends occurring, or
known to management, other than the events described above. This
Current Report on Form 8-K should be read in conjunction with the
2016 Annual Report, the Quarterly Report on Form 10-Q for the
quarter ended March 31, 2017 and other filings made by Martin
Marietta with the SEC.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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23.1 |
Consent of PricewaterhouseCoopers LLP, Independent |
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23.2 |
Consent of Ernst Young LLP, Independent Registered Public |
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99.1 |
Revised Part I, Item 1. Business |
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99.2 |
Revised Part I, Item 1A. Risk Factors |
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99.3 |
Revised Part I, Item 2. Properties |
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99.4 |
Revised Part II, Item 7. Managements Discussion and |
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and Results of Operations |
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99.5 |
Revised Part II, Item 8. Financial Statements and |
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99.6 |
Part IV, Item 15. Exhibits and Financial Statement |
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101.INS |
XBRL Instance Document |
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101.SCH |
XBRL Taxonomy Extension Schema Document |
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101.CAL |
XBRL Taxonomy Extension Calculation Linkbase Document |
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101.LAB |
XBRL Taxonomy Extension Label Linkbase Document |
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101.PRE |
XBRL Taxonomy Extension Presentation Linkbase Document |
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101.DEF |
XBRL Taxonomy Extension Definition Linkbase |
About Martin Marietta Materials, Inc. (NYSE:MLM)
Martin Marietta Materials, Inc. is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business. The Company conducts its Aggregates business through three segments: the Mid-America Group, Southeast Group, and West Group. The Company’s Cement business operates through the Cement segment. The Company’s Magnesia Specialties segment includes its magnesia-based chemicals and dolomitic lime businesses. Its Aggregates Business is engaged in mining, processing and selling granite, limestone, sand, gravel and other aggregate products. Its Cement business is engaged in producing Portland and specialty cements. In addition, aggregates products are used for railroad ballast and in agricultural, utility and environmental applications. Martin Marietta Materials, Inc. (NYSE:MLM) Recent Trading Information
Martin Marietta Materials, Inc. (NYSE:MLM) closed its last trading session down -3.22 at 230.54 with 403,668 shares trading hands.