U.S. Concrete (USCR) 10-Q 6 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 22, 2021
Cover [Abstract]
Entity Central Index Key	0001073429
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-34530
Entity Registrant Name	U.S. CONCRETE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0586680
Entity Address, Address Line One	331 N. Main Street,
Entity Address, City or Town	Euless
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76039
City Area Code	817
Local Phone Number	835-4105
Title of 12(b) Security	Common Stock, par value $0.001
Trading Symbol	USCR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,977,307

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 22.8	$ 11.1
Trade accounts receivable, net	189.8	212.5
Inventories	73.2	70.3
Other receivables, net	22.1	13.2
Prepaid expenses and other	10.5	11.1
Total current assets	318.4	318.2
Property, plant and equipment, net of accumulated depreciation, depletion and amortization of $376.2 as of March 31, 2021 and $360.2 as of December 31, 2020	802.5	788.2
Operating lease assets	74.2	76.1
Goodwill	237.9	238.2
Intangible assets, net of accumulated amortization of $101.1 as of March 31, 2021 and $97.5 as of December 31, 2020	65.3	70.9
Other assets	13.7	14.7
Total assets	1,512	1,506.3
Current liabilities:
Accounts payable	113.6	127.8
Accrued liabilities	75	86.1
Current maturities of long-term debt	34	33.7
Current operating lease liabilities	14.8	14.3
Total current liabilities	237.4	261.9
Long-term debt, net of current maturities	709.7	668.7
Long-term operating lease liabilities	63.3	65.5
Other long-term obligations and deferred credits	50.2	51.9
Deferred income taxes	61.3	56.6
Total liabilities	1,121.9	1,104.6
Commitments and contingencies (Note 8)
Equity:
Additional paid-in capital	366.7	363.8
Retained earnings	48.5	53.3
Treasury stock, at cost	(47.6)	(37.9)
Total shareholders' equity	367.6	379.2
Non-controlling interest	22.5	22.5
Total equity	390.1	401.7
Total liabilities and equity	$ 1,512	$ 1,506.3

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Property, plant and equipment, accumulated depreciation, depletion, and amortization	$ 376.2	$ 360.2
Intangible assets, accumulated amortization	$ 101.1	$ 97.5

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenue	$ 285.7	$ 334.4
Cost of goods sold excluding depreciation, depletion and amortization	233.1	273.9
Selling, general and administrative expenses	29.3	33.7
Depreciation, depletion and amortization	24.4	23.4
Change in value of contingent consideration	(0.1)	0.3
Gain on sale/disposal of assets and business, net	(1.5)	0
Operating income	0.5	3.1
Interest expense, net	10.4	11.4
Other income, net	(0.4)	(0.6)
Income (loss) before income taxes	(9.5)	(7.7)
Income tax expense (benefit)	(4.7)	(4.9)
Net income (loss)	(4.8)	(2.8)
Amounts attributable to non-controlling interest	0	0.3
Net income (loss) attributable to U.S. Concrete	$ (4.8)	$ (3.1)
Earnings (loss) per share attributable to U.S. Concrete:
Basic earnings per share (in dollars per share)	$ (0.28)	$ (0.19)
Diluted earnings per share (in dollars per share)	$ (0.28)	$ (0.19)
Weighted average shares outstanding:
Basic (in shares)	16.8	16.5
Diluted (in shares)	16.8	16.5

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (4.8)	$ (2.8)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	24.4	23.4
Amortization of debt issuance costs	0.5	0.4
Change in value of contingent consideration	(0.1)	0.3
Deferred income taxes	5.9	2.2
Provision for doubtful accounts and customer disputes	0.7	0.3
Stock-based compensation	2.9	3.7
Other, net	(0.8)	(0.8)
Changes in assets and liabilities, excluding effects of acquisitions:
Accounts receivable	22.1	15.1
Inventories	(3)	(0.2)
Prepaid expenses and other current assets	(8.4)	(5.2)
Other assets and liabilities	(1.4)	0.3
Accounts payable and accrued liabilities	(25.5)	7.3
Net cash provided by operating activities	12.5	44
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(32.4)	(7.3)
Proceeds from sale of business and property, plant and equipment	2.8	0.2
Payment for acquisition of business	0	(140.2)
Net cash used in investing activities	(29.6)	(147.3)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolver borrowings	139.7	170.2
Repayments of revolver borrowings	(91.2)	(79.9)
Payments for acquisition-related liabilities	(1.2)	(2.9)
Payments for finance leases, promissory notes and other	(8.8)	(8.4)
Shares redeemed for employee income tax obligations	(9.7)	(1.1)
Proceeds from finance leases and other	0	12.2
Debt issuance costs	0	(1)
Net cash provided by financing activities	28.8	89.1
EFFECT OF EXCHANGE RATES ON CASH AND CASH EQUIVALENTS	0	0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	11.7	(14.2)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	11.1	40.6
CASH AND CASH EQUIVALENTS AT END OF PERIOD	22.8	26.4
Supplemental Disclosure of Cash Flow Information:
Net cash paid for interest	10.3	1.7
Net cash paid for income taxes	0.8	0.1
Supplemental Disclosure of Non-cash Investing and Financing Activities:
Capital expenditures funded by finance leases and promissory notes	1.4	9.7
Net right-of-use assets obtained in exchange for operating lease liabilities	1.7	5.3
Acquisitions funded by deferred consideration	0	1.7
Transfer of non-controlling interest	$ 0	$ 3.3

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Feb. 24, 2020
Coram Material Corp.
Accounts payable	$ 0.6	$ 0.6

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF TOTAL EQUITY - USD ($) shares in Millions, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Retained Earnings (Accumulated Deficit)Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Total Shareholders' Equity	Total Shareholders' EquityCumulative Effect, Period of Adoption, Adjustment	Non-controlling Interest
BALANCE, beginning of period (in shares) at Dec. 31, 2019			16.7
BALANCE, beginning of period at Dec. 31, 2019	$ 369.6	$ (3.3)		$ 348.9	$ 31.1	$ (3.3)	$ (36.6)	$ 343.4	$ (3.3)	$ 26.2
Increase (Decrease) in Stockholders' Equity
Transfer of non-controlling interest				3.3				3.3		(3.3)
Stock-based compensation	2.6			3.7			(1.1)	2.6
Net income (loss)	(2.8)				(3.1)			(3.1)		0.3
BALANCE, end of period (in shares) at Mar. 31, 2020			16.7
BALANCE, end of period at Mar. 31, 2020	$ 366.1			355.9	24.7		(37.7)	342.9		23.2
Increase (Decrease) in Stockholders' Equity
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
BALANCE, beginning of period (in shares) at Dec. 31, 2020			16.7
BALANCE, beginning of period at Dec. 31, 2020	$ 401.7			363.8	53.3		(37.9)	379.2		22.5
Increase (Decrease) in Stockholders' Equity
Stock-based compensation (in shares)			0.3
Stock-based compensation	(6.8)			2.9			(9.7)	(6.8)
Net income (loss)	(4.8)				(4.8)			(4.8)		0
BALANCE, end of period (in shares) at Mar. 31, 2021			17
BALANCE, end of period at Mar. 31, 2021	$ 390.1			$ 366.7	$ 48.5		$ (47.6)	$ 367.6		$ 22.5

BASIS OF PRESENTATION AND ACCOU

BASIS OF PRESENTATION AND ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND ACCOUNTING POLICIES	BASIS OF PRESENTATION AND ACCOUNTING POLICIESThese unaudited condensed consolidated financial statements include the accounts of U.S. Concrete, Inc. and its subsidiaries (collectively, “we,” “us,” “our,” the “Company,” or “U.S. Concrete”) and were prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) applicable to interim financial statements. While these unaudited condensed consolidated financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for fair presentation of the results of the interim period, they do not include all of the information and footnotes required by generally accepted accounting principles in the United States (“U.S. GAAP”) for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 10-K”). We use the same accounting policies in preparing quarterly and annual financial statements. Certain reclassifications have been made to prior year amounts to conform with the current year presentation. Unless otherwise noted, all amounts are presented in U.S. dollars. Certain computations may be impacted by the effect of rounding in this report. Operating results for interim periods are not necessarily indicative of the results that may be expected for the full year due to the impact of the coronavirus ( “ COVID-19 ”

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS 2021 Acquisitions On March 12, 2021, we acquired property and the underlying royalty agreement associated with the Orca Quarry on Vancouver Island, British Columbia, Canada for $28.7 million (the “ Acquisition ” ). The Acquisition had the effect of eliminating future royalty payments, which had previously been recognized in cost of goods sold excluding depreciation, depletion and amortization in our condensed consolidated statements of operations. We accounted for the Acquisition as an asset acquisition and recorded the assets in property, plant and equipment on our condensed consolidated balance sheets. The consideration transferred in the Acquisition was measured at cost including transaction costs and assets purchased by the Company. On April 20, 2021 we purchased a rail terminal and bulk storage facility for cementitious materials in Stockton, California for $8.2 million that is currently leased to and operated by a third party. We made this investment to increase the control and stability over our raw material supply chain to support our West Region ready-mixed concrete business. 2020 Acquisitions On February 24, 2020, we acquired all of the equity of Coram Materials Corp. and certain of its affiliates (collectively, “ Coram Materials ” ). Coram Materials is a sand and gravel products provider located on Long Island in New York. This acquisition increased the vertical integration of our New York City operations. The acquisition of all of the equity of Coram Materials (the “ Coram Acquisition ” ) was accounted for as a business combination. We funded the initial cash purchase consideration with cash and borrowings under our Revolving Facility (as defined in Note 5 ). The combined assets acquired through the Coram Acquisition included an aggregates facility with 330 acres of land, including 180 mining acres containing approximately 41.9 million tons of in-place, proven and permitted aggregate reserves and approximately 7.5 million tons of in-place, proven, but unpermitted aggregate reserves. To effect this transaction, we incurred $0.5 million of transaction costs, which were included in selling and general administrative expenses in our condensed consolidated statements of operations for the three months ended March 31, 2020. The total consideration for the Coram Acquisition and the amounts related to the assets acquired and liabilities assumed based on the estimated fair values as of the acquisition date were as follows: ($ in millions) Coram Materials Accounts receivable (1) $ 2.0 Inventory 10.0 Other current assets 0.3 Property, plant and equipment 130.9 Total assets acquired 143.2 Current liabilities 0.1 Other long-term liabilities 0.2 Total liabilities assumed 0.3 Total consideration (fair value) (2) $ 142.9 (1) The aggregate fair value of the acquired accounts receivable approximated the aggregate gross contractual amount. (2) Consisted of a $140.2 million initial cash payment, a $1.7 million present value of deferred consideration, and a $1.6 million working capital adjustment paid in August 2020, less a $0.6 million settlement of accounts payable owed by the Company to Coram Materials at the acquisition date. The total amount of deferred consideration was $2.0 million, of which $1.0 million was paid in the three months ended March 31, 2021 and the remainder will be paid in February 2022. On November 7, 2020, we acquired certain assets of Sugar City Building Materials Co. (the “Sugar City Acquisition”), which expanded our ready-mixed concrete operations in our West Region, for total cash consideration of $7.6 million. We accounted for the Sugar City Acquisition as a business combination. The assets acquired primarily included inventory and property, plant and equipment. The preliminary $2.1 million of goodwill from the Sugar City Acquisition, which has been ascribed to our ready-mixed concrete segment, is related to the synergies we expect to receive in that segment and is amortizable for tax purposes. Our accounting for the Sugar City Acquisition is preliminary; however, we do not expect to record material adjustments in 2021. No pro forma information has been disclosed in these financial statements, as the operations of Sugar City Building Materials Co. for the period were not material to our revenue, net income or earnings per share. Impact of Coram Acquisition During the three months ended March 31, 2020, the Coram Materials business generated revenue of $2.6 million, including intersegment sales of $0.9 million, and generated an operating loss of $0.2 million. The results of this acquired business are included in our aggregate products segment. Included in the operating loss was $1.6 million of costs related to the fair value increase in inventory on hand acquired at the acquisition date. The pro forma consolidated financial results shown below represent our estimate of the Company's results of operations as if the Coram Acquisition had been completed on January 1, 2020. ($ in millions except per share) Three Months Ended March 31, 2020 Revenue $ 336.5 Net income (loss) attributable to U.S. Concrete $ (1.6) Earnings (loss) per share attributable to U.S. Concrete - basic and diluted $ (0.10) The above pro forma results were prepared based on the historical U.S. GAAP results of the Company and the historical results of Coram Materials, based on data provided by the former owners. These results are not necessarily indicative of what the Company's actual results would have been had the Coram Acquisition occurred on January 1, 2020 and do not reflect any operational efficiencies or potential cost savings that may occur as a result of the consolidation of these operations. The pro forma amounts above reflect the following adjustments: ($ in millions) Three Months Ended March 31, 2020 Decrease in cost of goods sold related to fair value increase in inventory $ 1.6 Increase in depreciation, depletion and amortization expense (0.9) Exclusion of buyer transaction costs 0.5 Exclusion of seller transaction costs 0.3 Increase in interest expense (0.8) Increase in income tax expense (1.1)

ALLOWANCE FOR DOUBTFUL ACCOUNTS

ALLOWANCE FOR DOUBTFUL ACCOUNTS AND CUSTOMER DISPUTES	3 Months Ended
	Mar. 31, 2021
Credit Loss [Abstract]
ALLOWANCE FOR DOUBTFUL ACCOUNTS AND CUSTOMER DISPUTES	ALLOWANCE FOR DOUBTFUL ACCOUNTS AND CUSTOMER DISPUTES ($ in millions) Balance, December 31, 2020 $ 7.2 Provision for doubtful accounts and customer disputes 0.7 Uncollectible receivables written off, net of recoveries (0.4) Balance, March 31, 2021 (1) $ 7.5 (1) Excludes $1.3 million of allowances for other receivables as of March 31, 2021, which are included in other receivables, net on our consolidated balance sheets.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES ($ in millions) March 31, 2021 December 31, 2020 Raw materials (1) $ 65.7 $ 64.4 Building materials for resale 5.1 4.1 Other 2.4 1.8 Total $ 73.2 $ 70.3 (1) An additional $2.5 million of inventory as of both periods is classified as other assets, since we do not expect to sell it within one year.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
DEBT	DEBT ($ in millions) March 31, 2021 December 31, 2020 5.125% senior unsecured notes due 2029 (1) $ 400.0 $ 400.0 6.375% senior unsecured notes due 2024 and unamortized premium (2) 201.6 201.8 Asset based revolving credit facility (3) 55.0 6.5 Delayed draw term loan facility (4) — — Finance leases 82.3 87.9 Promissory notes 12.1 13.8 Debt issuance costs (7.3) (7.6) Total debt 743.7 702.4 Less: current maturities (34.0) (33.7) Long-term debt, net of current maturities $ 709.7 $ 668.7 (1) The effective interest rate for these notes was 5.25% as of both March 31, 2021 and December 31, 2020. (2) The effective interest rate for these notes was 6.56% as of both March 31, 2021 and December 31, 2020. (3) The interest rate for the revolving facility was 3.25% as of March 31, 2021 and 3.50% as of December 31, 2020. This facility expires on August 31, 2022. (4) Available borrowing capacity of $178.7 million as of March 31, 2021. Asset Based Revolving Credit Facility As of March 31, 2021, we had $1.1 million of undrawn standby letters of credit under our senior secured credit facility (“Revolving Facility”). Loans under the Revolving Facility are in the form of either base rate loans or London Interbank Offered Rate loans denominated in U.S. dollars. Our actual maximum credit availability under the Revolving Facility varies from time to time and is determined by calculating the value of our eligible accounts receivable, inventory, mixer trucks and machinery, minus reserves imposed by the lenders and certain other adjustments. Our availability under the Revolving Facility at March 31, 2021 was $154.7 million. We are required, upon the occurrence of certain events, to maintain a fixed charge coverage ratio of at least 1.0 to 1.0 for each period of 12 calendar months. The Revolving Facility is secured by a first priority lien and security interest on substantially all of our and our guarantor subsidiaries’ personal property. The agreement governing the Revolving Facility contains customary representations, warranties, covenants and events of default. As of March 31, 2021, we were in compliance with all covenants under the loan agreement that governs the Revolving Facility. Fair Value of Debt

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We recorded an income tax benefit of $4.7 million for the three months ended March 31, 2021. Our effective tax rate differed substantially from the statutory tax rate primarily due to (1) excess tax benefits recognized for stock-based compensation, (2) anticipated Section 162(m) limitations on executive compensation and (3) losses generated by certain of our Canadian subsidiaries for which no income tax benefit is recognized due to a related full valuation allowance. For the three months ended March 31, 2020, we recorded an income tax benefit of $4.9 million. For the three months ended March 31, 2020, our effective tax rate differed substantially from the federal statutory rate primarily due to additional tax benefits recognized related to the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) enacted on March 27, 2020. The CARES Act, among other things, modified the business interest deduction limitation for tax years beginning in 2019 and 2020 from 30% of adjusted taxable income (“ATI”) to 50% of ATI. As a result, we recorded an additional tax benefit of $3.2 million in the three months ended March 31, 2020 to reflect the CARES Act change to our estimated interest limitation for the year ended December 31, 2019. This tax benefit was partially offset by a net tax shortfall for stock-based compensation.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE We excluded 0.2 million and 0.9 million shares from the calculation of diluted earnings per share for the three months ended March 31, 2021 and March 31, 2020, respectively, because they were anti-dilutive. In both periods, these potentially dilutive shares related to our employee equity awards that either vest over time or upon the achievement of certain stock price targets.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Proceedings From time to time, and currently, we are subject to various claims and litigation brought by employees, customers and other third parties for, among other matters, personal injuries, property damages, product defects and delay damages that have, or allegedly have, resulted from the conduct of our operations. As a result of these types of claims and litigation, we must periodically evaluate the probability of damages being assessed against us and the range of possible outcomes. In each reporting period, if we determine that the likelihood of damages being assessed against us is probable, and if we believe we can estimate a range of possible outcomes, then we will record a liability. The amount of the liability will be based upon a specific estimate, if we believe a specific estimate to be likely, or it will reflect the low end of our range. Currently, there are no material legal proceedings pending against us. From time to time, we may receive funding deficiency demands or withdrawal liability assessments related to multi-employer pension plans to which we contribute. We are unable to estimate the amount of any future demands or assessments because the actions of each of the other contributing employers in the plans has an effect on each of the other contributing employers, and the development of a rehabilitation plan by the trustees and subsequent submittal to and approval by the Internal Revenue Service is not predictable. Further, the allocation of fund assets and return assumptions by trustees are variable, as are actual investment returns relative to the plan assumptions. As of March 31, 2021, the Company had accrued $1.4 million for a withdrawal liability assessment related to a multi-employer pension plan in which the Company participated. The Company continues to dispute and negotiate the assessment. As of May 6, 2021, there were no material product defect claims pending against us. Accordingly, our existing accruals for claims against us do not reflect any material amounts relating to product defect claims. While our management is not aware of any facts that would reasonably be expected to lead to material product defect claims against us that would have a material adverse effect on our business, financial condition or results of operations, it is possible that claims could be asserted against us in the future. We do not maintain insurance that would cover all damages resulting from product defect claims. In particular, we generally do not maintain insurance coverage for the cost of removing and rebuilding structures. In addition, our indemnification arrangements with contractors or others, when obtained, generally provide only limited protection against product defect claims. Due to inherent uncertainties associated with estimating unasserted claims in our business, we cannot estimate the amount of any future loss that may be attributable to such unasserted product defect claims related to ready-mixed concrete we have delivered prior to March 31, 2021. We believe that the resolution of any litigation currently pending or threatened against us or any of our subsidiaries will not materially exceed our existing accruals for those matters. However, because of the inherent uncertainty of litigation, there is a risk that we may have to increase our accruals for one or more claims or proceedings to which we are a party as more information becomes available or proceedings progress, and any such increase in accruals could have a material adverse effect on our consolidated financial condition or results of operations. We expect in the future that we will, from time to time, be a party to litigation or administrative proceedings that arise in the normal course of our business. We are subject to federal, state and local environmental laws and regulations concerning, among other matters, air emissions and wastewater discharge. Our management believes we are in substantial compliance with applicable environmental laws and regulations. From time to time, we receive claims from federal and state environmental regulatory agencies and entities asserting that we may be in violation of environmental laws and regulations. Based on experience and the information currently available, our management does not believe that these claims will materially exceed our related accruals. Despite compliance and experience, it is possible that we could be held liable for future charges, which might be material, but are not currently known to us or cannot be estimated by us. In addition, changes in federal or state laws, regulations or requirements, or discovery of currently unknown conditions, could require additional expenditures. As permitted under Delaware law, we have agreements that provide indemnification of officers and directors for certain events or occurrences while the officer or director is or was serving at our request in such capacity. The maximum potential amount of future payments that we could be required to make under these indemnification agreements is not limited; however, we have a director and officer insurance policy that potentially limits our exposure and enables us to recover a portion of future amounts that may be paid. As a result of the insurance policy coverage, we believe the potential liability of these indemnification agreements is minimal. Accordingly, we have not recorded any liabilities for these agreements as of March 31, 2021. We and our subsidiaries are parties to agreements that require us to provide indemnification in certain instances when we acquire businesses and real estate and in the ordinary course of business with our customers, suppliers, lessors and service providers. As of May 6, 2021, there were no material pending claims related to such indemnification. Insurance Programs We maintain third-party insurance coverage against certain workers’ compensation, automobile and general liability risks. Under certain components of our insurance program, we share the risk of loss with our insurance underwriters by maintaining high deductibles subject to aggregate annual loss limitations. Generally, our insurance program deductible retentions per occurrence are $1.0 million to $2.0 million for workers’ compensation and general liability and $2.0 million to $10.0 million for automobile, although certain of our operations are self-insured for workers’ compensation. We record expenses for expected losses under the programs. The expected losses are determined using a combination of our historical loss experience and subjective assessments of our future loss exposure. The estimated losses are subject to uncertainty, including changes in claims reporting patterns, claims settlement patterns, judicial decisions, legislation and economic conditions. Although we believe that the estimated losses we have recorded are reasonable, significant differences related to the items noted above could materially affect our insurance obligations and future expense. The amount accrued for self-insurance claims, which was recorded in accrued liabilities and other long-term obligations and deferred credits, was $34.1 million as of March 31, 2021 and $33.0 million as of December 31, 2020. Guarantees In the normal course of business, we and our subsidiaries were contingently liable under $13.2 million in performance bonds that various contractors, states and municipalities have required as of March 31, 2021. The bonds principally relate to construction contracts, reclamation obligations, licensing and permitting. We and our subsidiaries have indemnified the underwriting insurance company against any exposure under the performance bonds. No material claims have been made against these bonds. The Company has entered into standby letter of credit arrangements with various banks generally for the purpose of protection against insurance claims. As of March 31, 2021, the Company had a maximum financial exposure from these standby letters of credit totaling $25.9 million, of which $1.1 million reduces the Company's borrowing availability under its Revolving Facility. See Note 5 for additional information.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our two reportable segments consist of ready-mixed concrete and aggregate products as described below. Our ready-mixed concrete segment produces and sells ready-mixed concrete. This segment serves the following markets: Texas, California, New York City, New Jersey, Washington, D.C., Philadelphia, Oklahoma and the U.S. Virgin Islands. Our aggregate products segment produces crushed stone, sand and gravel and serves the markets in which our ready-mixed concrete segment operates as well as the West Coast and Hawaii. Other operations and products not associated with a reportable segment include our aggregates distribution operations, building materials stores, hauling operations, ARIDUS ® Rapid Drying Concrete technology, brokered product sales and recycled aggregates. Our customers are generally involved in the construction industry, which is a cyclical business and is subject to general and more localized economic conditions. In addition, our business is impacted by seasonal variations in weather conditions, which vary by regional market. Accordingly, demand for our products and services during the winter months is typically lower than in other months of the year because of inclement weather. Also, sustained periods of inclement weather and other adverse weather conditions could cause the delay of construction projects during other times of the year. Our chief operating decision maker evaluates segment performance and allocates resources based on Adjusted EBITDA. We define Adjusted EBITDA as our net income, excluding the impact of income taxes, depreciation, depletion and amortization, net interest expense and certain other non-cash, non-recurring and/or unusual, non-operating items including, but not limited to: non-cash stock compensation expense, non-cash change in value of contingent consideration, acquisition-related costs, officer transition expenses, purchase accounting adjustments for inventory, and realignment initiative costs. Acquisition-related costs consist of fees and expenses for accountants, lawyers and other professionals incurred during the negotiation and closing of strategic acquisitions. Acquisition-related costs do not include fees or expenses associated with post-closing integration of strategic acquisitions. Many of the impacts excluded to derive Adjusted EBITDA are similar to those excluded in calculating our compliance with our debt covenants. We consider Adjusted EBITDA to be an indicator of the operational strength and performance of our business. We have included Adjusted EBITDA because it is a key financial measure used by our management to (1) internally measure our operating performance and (2) assess our ability to service our debt, incur additional debt and meet our capital expenditure requirements. Adjusted EBITDA should not be construed as an alternative to, or a better indicator of, operating income or loss, is not based on U.S. GAAP, and is not a measure of our cash flows or ability to fund our cash needs. Our measurements of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies and may not be comparable to similarly titled measures used in the agreements governing our debt. We generally account for inter-segment sales at market prices. Corporate includes executive, administrative, financial, legal, human resources, business development and risk management activities that are not allocated to reportable segments and are excluded from segment Adjusted EBITDA. Eliminations include transactions to account for intercompany activity. The following tables set forth certain financial information relating to our operations by reportable segment ($ in millions): Three Months Ended 2021 2020 Revenue by Segment: Ready-mixed concrete Sales to external customers $ 241.5 $ 292.2 Aggregate products Sales to external customers 22.6 21.1 Freight revenue on sales to external customers 9.4 10.0 Intersegment sales 12.5 12.5 Total aggregate products 44.5 43.6 Total reportable segment revenue 286.0 335.8 Other products and eliminations (0.3) (1.4) Total revenue $ 285.7 $ 334.4 Reportable Segment Adjusted EBITDA: Ready-mixed concrete $ 24.9 $ 31.7 Aggregate products 12.5 11.3 Total reportable segment Adjusted EBITDA $ 37.4 $ 43.0 Reconciliation of Total Reportable Segment Adjusted EBITDA Total reportable segment Adjusted EBITDA $ 37.4 $ 43.0 Other products and eliminations from operations (0.3) 0.1 Corporate overhead (13.7) (15.6) Depreciation, depletion and amortization for reportable segments (22.9) (21.8) Interest expense, net (10.4) (11.4) Gain on sale of business 0.7 — Realignment initiative costs (0.4) — Change in value of contingent consideration for reportable segments 0.1 (0.3) Purchase accounting adjustments for inventory (0.1) (1.6) Corporate, other products and eliminations other income (loss), net 0.1 (0.1) Income (loss) before income taxes (9.5) (7.7) Income tax benefit (expense) 4.7 4.9 Net income (loss) $ (4.8) $ (2.8) Three Months Ended 2021 2020 Capital Expenditures: Ready-mixed concrete $ 1.1 $ 4.4 Aggregate products (1) 31.1 2.8 Other products and corporate 0.2 0.1 Total capital expenditures $ 32.4 $ 7.3 (1) Includes $28.7 million for the acquisition of the property and the underlying royalty agreement associated with the Orca Quarry on Vancouver Island, British Columbia, Canada. Three Months Ended 2021 2020 Revenue by Product: Ready-mixed concrete $ 241.5 $ 292.2 Aggregate products 32.0 31.1 Other (1) 12.2 11.1 Total revenue $ 285.7 $ 334.4 (1) Includes building materials, aggregates distribution, hauling and other. March 31, 2021 December 31, 2020 Identifiable Property, Plant and Equipment Assets: Ready-mixed concrete $ 278.7 $ 286.9 Aggregate products 501.6 478.1 Other products and corporate 22.2 23.2 Total identifiable assets $ 802.5 $ 788.2

BASIS OF PRESENTATION AND ACC_2

BASIS OF PRESENTATION AND ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	These unaudited condensed consolidated financial statements include the accounts of U.S. Concrete, Inc. and its subsidiaries (collectively, “we,” “us,” “our,” the “Company,” or “U.S. Concrete”) and were prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) applicable to interim financial statements. While these unaudited condensed consolidated financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for fair presentation of the results of the interim period, they do not include all of the information and footnotes required by generally accepted accounting principles in the United States (“U.S. GAAP”) for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 10-K”). We use the same accounting policies in preparing quarterly and annual financial statements. Certain reclassifications have been made to prior year amounts to conform with the current year presentation. Unless otherwise noted, all amounts are presented in U.S. dollars. Certain computations may be impacted by the effect of rounding in this report. Operating results for interim periods are not necessarily indicative of the results that may be expected for the full year due to the impact of the coronavirus ( “ COVID-19 ”
Use of Estimates

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Schedule of Total Consideration and Amounts Related to the Assets Acquired and Liabilities Assumed	The total consideration for the Coram Acquisition and the amounts related to the assets acquired and liabilities assumed based on the estimated fair values as of the acquisition date were as follows: ($ in millions) Coram Materials Accounts receivable (1) $ 2.0 Inventory 10.0 Other current assets 0.3 Property, plant and equipment 130.9 Total assets acquired 143.2 Current liabilities 0.1 Other long-term liabilities 0.2 Total liabilities assumed 0.3 Total consideration (fair value) (2) $ 142.9 (1) The aggregate fair value of the acquired accounts receivable approximated the aggregate gross contractual amount. (2) Consisted of a $140.2 million initial cash payment, a $1.7 million present value of deferred consideration, and a $1.6 million working capital adjustment paid in August 2020, less a $0.6 million settlement of accounts payable owed by the Company to Coram Materials at the acquisition date. The total amount of deferred consideration was $2.0 million, of which $1.0 million was paid in the three months ended March 31, 2021 and the remainder will be paid in February 2022.
Schedule of Unaudited Pro Forma Information	The pro forma consolidated financial results shown below represent our estimate of the Company's results of operations as if the Coram Acquisition had been completed on January 1, 2020. ($ in millions except per share) Three Months Ended March 31, 2020 Revenue $ 336.5 Net income (loss) attributable to U.S. Concrete $ (1.6) Earnings (loss) per share attributable to U.S. Concrete - basic and diluted $ (0.10)
Schedule of Adjustments Reflected in Pro Forma Net Income (Loss) and Net Income (Loss) Per Share Amounts	The pro forma amounts above reflect the following adjustments: ($ in millions) Three Months Ended March 31, 2020 Decrease in cost of goods sold related to fair value increase in inventory $ 1.6 Increase in depreciation, depletion and amortization expense (0.9) Exclusion of buyer transaction costs 0.5 Exclusion of seller transaction costs 0.3 Increase in interest expense (0.8) Increase in income tax expense (1.1)

ALLOWANCE FOR DOUBTFUL ACCOUN_2

ALLOWANCE FOR DOUBTFUL ACCOUNTS AND CUSTOMER DISPUTES (Tables)	3 Months Ended
	Mar. 31, 2021
Credit Loss [Abstract]
Allowance for Doubtful Accounts and Customer Disputes	($ in millions) Balance, December 31, 2020 $ 7.2 Provision for doubtful accounts and customer disputes 0.7 Uncollectible receivables written off, net of recoveries (0.4) Balance, March 31, 2021 (1) $ 7.5 (1) Excludes $1.3 million of allowances for other receivables as of March 31, 2021, which are included in other receivables, net on our consolidated balance sheets.

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	($ in millions) March 31, 2021 December 31, 2020 Raw materials (1) $ 65.7 $ 64.4 Building materials for resale 5.1 4.1 Other 2.4 1.8 Total $ 73.2 $ 70.3 (1) An additional $2.5 million of inventory as of both periods is classified as other assets, since we do not expect to sell it within one year.

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt and Capital Leases	($ in millions) March 31, 2021 December 31, 2020 5.125% senior unsecured notes due 2029 (1) $ 400.0 $ 400.0 6.375% senior unsecured notes due 2024 and unamortized premium (2) 201.6 201.8 Asset based revolving credit facility (3) 55.0 6.5 Delayed draw term loan facility (4) — — Finance leases 82.3 87.9 Promissory notes 12.1 13.8 Debt issuance costs (7.3) (7.6) Total debt 743.7 702.4 Less: current maturities (34.0) (33.7) Long-term debt, net of current maturities $ 709.7 $ 668.7 (1) The effective interest rate for these notes was 5.25% as of both March 31, 2021 and December 31, 2020. (2) The effective interest rate for these notes was 6.56% as of both March 31, 2021 and December 31, 2020. (3) The interest rate for the revolving facility was 3.25% as of March 31, 2021 and 3.50% as of December 31, 2020. This facility expires on August 31, 2022. (4) Available borrowing capacity of $178.7 million as of March 31, 2021.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Certain Financial Information Relating to Continuing Operations by Reportable Segment	The following tables set forth certain financial information relating to our operations by reportable segment ($ in millions): Three Months Ended 2021 2020 Revenue by Segment: Ready-mixed concrete Sales to external customers $ 241.5 $ 292.2 Aggregate products Sales to external customers 22.6 21.1 Freight revenue on sales to external customers 9.4 10.0 Intersegment sales 12.5 12.5 Total aggregate products 44.5 43.6 Total reportable segment revenue 286.0 335.8 Other products and eliminations (0.3) (1.4) Total revenue $ 285.7 $ 334.4 Reportable Segment Adjusted EBITDA: Ready-mixed concrete $ 24.9 $ 31.7 Aggregate products 12.5 11.3 Total reportable segment Adjusted EBITDA $ 37.4 $ 43.0 Reconciliation of Total Reportable Segment Adjusted EBITDA Total reportable segment Adjusted EBITDA $ 37.4 $ 43.0 Other products and eliminations from operations (0.3) 0.1 Corporate overhead (13.7) (15.6) Depreciation, depletion and amortization for reportable segments (22.9) (21.8) Interest expense, net (10.4) (11.4) Gain on sale of business 0.7 — Realignment initiative costs (0.4) — Change in value of contingent consideration for reportable segments 0.1 (0.3) Purchase accounting adjustments for inventory (0.1) (1.6) Corporate, other products and eliminations other income (loss), net 0.1 (0.1) Income (loss) before income taxes (9.5) (7.7) Income tax benefit (expense) 4.7 4.9 Net income (loss) $ (4.8) $ (2.8) Three Months Ended 2021 2020 Capital Expenditures: Ready-mixed concrete $ 1.1 $ 4.4 Aggregate products (1) 31.1 2.8 Other products and corporate 0.2 0.1 Total capital expenditures $ 32.4 $ 7.3 (1) Includes $28.7 million for the acquisition of the property and the underlying royalty agreement associated with the Orca Quarry on Vancouver Island, British Columbia, Canada. Three Months Ended 2021 2020 Revenue by Product: Ready-mixed concrete $ 241.5 $ 292.2 Aggregate products 32.0 31.1 Other (1) 12.2 11.1 Total revenue $ 285.7 $ 334.4 (1) Includes building materials, aggregates distribution, hauling and other. March 31, 2021 December 31, 2020 Identifiable Property, Plant and Equipment Assets: Ready-mixed concrete $ 278.7 $ 286.9 Aggregate products 501.6 478.1 Other products and corporate 22.2 23.2 Total identifiable assets $ 802.5 $ 788.2

ACQUISITIONS - Additional Infor

ACQUISITIONS - Additional Information (Narrative) (Details) T in Millions, $ in Millions	Apr. 20, 2021USD ($)	Mar. 12, 2021USD ($)	Nov. 07, 2020USD ($)	Feb. 24, 2020aT	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
Sugar City Acquisition
Business Acquisition [Line Items]
Goodwill					$ 2.1
Orca acquisition
Business Acquisition [Line Items]
Consideration transferred		$ 28.7
Stockton Terminal Facility [Member] | Subsequent Event
Business Acquisition [Line Items]
Consideration transferred	$ 8.2
Coram Material Corp.
Business Acquisition [Line Items]
Area of land (acres) | a				330
Area of land, mining acres (acres) | a				180
Proven aggregate reserves (tons) | T				41.9
Proven but unpermitted aggregate reserves (tons) | T				7.5
Transaction costs					$ 0.5
Operating income						$ (0.2)
Revenue						2.6
Coram Material Corp. | Acquisition-related costs
Business Acquisition [Line Items]
Decrease in cost of goods sold related to fair value increase in inventory						1.6
Coram Material Corp. | Intersegment sales
Business Acquisition [Line Items]
Revenue						$ 0.9
Sugar City Acquisition
Business Acquisition [Line Items]
Consideration transferred			$ 7.6

ACQUISITIONS - Summary of Asset

ACQUISITIONS - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Feb. 24, 2020	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition [Line Items]
Acquisitions funded by deferred consideration		$ 0	$ 1.7
Coram Material Corp.
Business Acquisition [Line Items]
Accounts receivable	$ 2
Inventory	10
Other current assets	0.3
Property, plant and equipment	130.9
Total assets acquired	143.2
Current liabilities	0.1
Other long-term liabilities	0.2
Total liabilities assumed	0.3
Total consideration (fair value)	142.9
Consideration satisfied in cash	140.2	1
Acquisitions funded by deferred consideration	1.7
Working capital adjustment	1.6
Accounts payable	0.6	$ 0.6
Business Combination, Consideration Transferred, Liabilities Incurred	$ 2

ACQUISITIONS - Schedule of Unau

ACQUISITIONS - Schedule of Unaudited Pro Forma Information (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)$ / shares
Business Combinations [Abstract]
Revenue | $	$ 336.5
Net income (loss) attributable to U.S. Concrete | $	$ (1.6)
Earnings (loss) per share attributable to U.S. Concrete - basic (in dollars per share) | $ / shares	$ (0.10)
Earnings (loss) per share attributable to U.S. Concrete - diluted (in dollars per share) | $ / shares	$ (0.10)

ACQUISITIONS - Schedule of Adju

ACQUISITIONS - Schedule of Adjustments Reflected in Pro Forma Net Income (Loss) and Net Income (Loss) Per Share Amounts (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Increase in depreciation, depletion and amortization expense	$ (24.4)	$ (23.4)
Increase in interest expense	(10.4)	(11.4)
Increase in income tax expense	$ 4.7	4.9
Coram Material Corp. | Acquisition-related costs
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Decrease in cost of goods sold related to fair value increase in inventory		1.6
Increase in depreciation, depletion and amortization expense		(0.9)
Exclusion of buyer transaction costs		0.5
Exclusion of seller transaction costs		0.3
Increase in interest expense		(0.8)
Increase in income tax expense		$ (1.1)

ALLOWANCE FOR DOUBTFUL ACCOUN_3

ALLOWANCE FOR DOUBTFUL ACCOUNTS AND CUSTOMER DISPUTES (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 7.2
Provision for doubtful accounts and customer disputes	0.7
Uncollectible receivables written off, net of recoveries	(0.4)
Ending balance	7.5
Allowances for other receivables	$ 1.3

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials(1)	$ 65.7	$ 64.4
Building materials for resale	5.1	4.1
Other	2.4	1.8
Total	73.2	$ 70.3
Raw materials, noncurrent	$ 2.5

DEBT - Schedule of Debt and Cap

DEBT - Schedule of Debt and Capital Leases (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Finance leases	$ 82.3	$ 87.9
Debt issuance costs	(7.3)	(7.6)
Total debt	743.7	702.4
Less: current maturities	(34)	(33.7)
Long-term debt, net of current maturities	709.7	668.7
Delayed Draw Term Loan Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	178.7
Unsecured notes | 2024 Notes
Debt Instrument [Line Items]
Long-term debt	$ 201.6	$ 201.8
Interest rate	6.375%	6.375%
Effective interest rate (as a percent)	6.56%	6.56%
Unsecured notes | 2029 Notes
Debt Instrument [Line Items]
Long-term debt	$ 400	$ 400
Interest rate	5.125%	5.125%
Effective interest rate (as a percent)	5.25%	5.25%
Asset based revolving credit facility(3)
Debt Instrument [Line Items]
Long-term debt	$ 55	$ 6.5
Effective interest rate (as a percent)	3.25%	3.50%
Delayed draw term loan facility(4)
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 0
Promissory notes
Debt Instrument [Line Items]
Long-term debt	$ 12.1	$ 13.8

DEBT - Narrative (Details)

DEBT - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Unsecured notes
Line of Credit Facility [Line Items]
Fair value of long-term debt	$ 615.5
Line of Credit | Letter of Credit
Line of Credit Facility [Line Items]
Undrawn standby letters of credit	25.9
Line of Credit | Third Loan Agreement | Letter of Credit
Line of Credit Facility [Line Items]
Undrawn standby letters of credit	1.1
Line of Credit | Third Loan Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum availability under the Revolving Facility	$ 154.7
Fixed charge coverage ratio, minimum required	100.00%
Fixed charge coverage ratio, measurement period	12 months

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating Loss Carryforwards [Line Items]
Income tax benefit (expense)	$ 4.7	$ 4.9
Coronavirus Aid, Relief and Economic Security (CARES Act), Interest Limitation
Operating Loss Carryforwards [Line Items]
Income tax benefit (expense)		$ 3.2

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restricted stock awards and restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive shares (in shares)	0.2	0.9

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Withdrawal obligation	$ 1.4
Letter of Credit | Line of Credit
Loss Contingencies [Line Items]
Undrawn standby letters of credit	25.9
Long-term line of credit	1.1
Insurance Claims
Loss Contingencies [Line Items]
Amount accrued for self-insurance claims	34.1	$ 33
Performance bonds
Loss Contingencies [Line Items]
Contingent liability for performance	13.2
Minimum | Workers' Compensation Insurance and General Liability
Loss Contingencies [Line Items]
Deductible retention per occurrence	1
Minimum | Automobile Insurance
Loss Contingencies [Line Items]
Deductible retention per occurrence	2
Maximum | Workers' Compensation Insurance and General Liability
Loss Contingencies [Line Items]
Deductible retention per occurrence	2
Maximum | Automobile Insurance
Loss Contingencies [Line Items]
Deductible retention per occurrence	$ 10

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Total Reportable Segment Adjusted EBITDA to Income (Loss) From Continuing Operations (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)reporting_segment	Mar. 31, 2020USD ($)
Segment Reporting [Abstract]
Number of reportable segments | reporting_segment	2
Revenue by Segment:
Revenue	$ 285.7	$ 334.4
Reconciliation of Total Reportable Segment Adjusted EBITDA to Net Income (Loss):
Total reportable segment Adjusted EBITDA	37.4	43
Other products and eliminations from operations	(0.3)	0.1
Corporate overhead	(13.7)	(15.6)
Depreciation, depletion and amortization for reportable segments	(22.9)	(21.8)
Interest expense, net	(10.4)	(11.4)
Gain on sale of business	0.7	0
Realignment initiative costs	(0.4)	0
Change in value of contingent consideration for reportable segments	0.1	(0.3)
Purchase accounting adjustments for inventory	(0.1)	(1.6)
Corporate, other products and eliminations other income (loss), net	0.1	(0.1)
Income (loss) before income taxes	(9.5)	(7.7)
Income tax benefit (expense)	4.7	4.9
Net income (loss)	(4.8)	(2.8)
Capital Expenditures:
Total capital expenditures	32.4	7.3
Ready-mixed concrete
Revenue by Segment:
Revenue	241.5	292.2
Reconciliation of Total Reportable Segment Adjusted EBITDA to Net Income (Loss):
Total reportable segment Adjusted EBITDA	24.9	31.7
Aggregate products
Revenue by Segment:
Revenue	22.6	21.1
Reconciliation of Total Reportable Segment Adjusted EBITDA to Net Income (Loss):
Total reportable segment Adjusted EBITDA	12.5	11.3
Aggregate products | Cargo and Freight
Revenue by Segment:
Revenue	9.4	10
Operating segment
Revenue by Segment:
Revenue	286	335.8
Operating segment | Ready-mixed concrete
Capital Expenditures:
Total capital expenditures	1.1	4.4
Operating segment | Aggregate products
Revenue by Segment:
Revenue	44.5	43.6
Intersegment sales | Aggregate products
Revenue by Segment:
Revenue	12.5	12.5
Other products and corporate
Revenue by Segment:
Revenue	(0.3)	(1.4)
Capital Expenditures:
Total capital expenditures	$ 0.2	$ 0.1

SEGMENT INFORMATION - Capital E

SEGMENT INFORMATION - Capital Expenditures (Details) - USD ($) $ in Millions	Mar. 12, 2021	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Payments to acquire property, plant, and equipment		$ 32.4	$ 7.3
Orca acquisition
Segment Reporting Information [Line Items]
Consideration transferred	$ 28.7
Operating segment | Ready-mixed concrete
Segment Reporting Information [Line Items]
Payments to acquire property, plant, and equipment		1.1	4.4
Operating segment | Aggregate Products
Segment Reporting Information [Line Items]
Payments to acquire property, plant, and equipment		31.1	2.8
Other products and corporate
Segment Reporting Information [Line Items]
Payments to acquire property, plant, and equipment		$ 0.2	$ 0.1

SEGMENT INFORMATION - Revenue b

SEGMENT INFORMATION - Revenue by Product (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Total revenue	$ 285.7	$ 334.4
Ready-mixed concrete
Segment Reporting Information [Line Items]
Total revenue	241.5	292.2
Aggregate Products
Segment Reporting Information [Line Items]
Total revenue	32	31.1
Other(1)
Segment Reporting Information [Line Items]
Total revenue	$ 12.2	$ 11.1

SEGMENT INFORMATION - Identifia

SEGMENT INFORMATION - Identifiable Property, Plant and Equipment Assets (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total identifiable assets	$ 802.5	$ 788.2
Operating segment | Ready-mixed concrete
Segment Reporting Information [Line Items]
Total identifiable assets	278.7	286.9
Operating segment | Aggregate products
Segment Reporting Information [Line Items]
Total identifiable assets	501.6	478.1
Other products and corporate
Segment Reporting Information [Line Items]
Total identifiable assets	$ 22.2	$ 23.2