Vulcan Materials (VMC) 10-K 26 Feb 10 2009 FY Annual report Financial data

Document and Company Informatio

Document and Company Information (USD $)
	12 Months Ended Dec. 31, 2009	Feb. 19, 2010	Jun. 30, 2009
Document and Company Information [Abstract]
Entity Registrant Name	Vulcan Materials CO
Entity Central Index Key	0001396009
Document Type	10-K
Document Period End Date	2009-12-31
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$5,362,319,558
Entity Common Stock, Shares Outstanding		126,334,086

Consolidated Statements of Earn

Consolidated Statements of Earnings (USD $)
In Thousands, except Per Share data	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008		12 Months Ended Dec. 31, 2007
Statements of Earnings [Abstract]
Net sales	$2,543,707	$3,453,081	[1]	$3,090,133
Delivery revenues	146,783	198,357	[1]	237,654
Total revenues	2,690,490	3,651,438	[1]	3,327,787
Cost of goods sold	2,097,745	2,703,369	[1]	2,139,230
Delivery costs	146,783	198,357	[1]	237,654
Cost of revenues	2,244,528	2,901,726	[1]	2,376,884
Gross profit	445,962	749,712	[1]	950,903
Selling, administrative and general expenses	321,608	342,584	[1]	289,604
Goodwill impairment	0	252,664	[1]	0
Gain on sale of property, plant & equipment and businesses, net	27,104	94,227	[1]	58,659
Other operating income (expense), net	(3,006)	411	[1]	(5,541)
Operating earnings	148,452	249,102	[1]	714,417
Other income (expense), net	5,307	(4,357)	[1]	(5,322)
Interest income	2,282	3,126	[1]	6,625
Interest expense	175,262	172,813	[1]	48,218
Earnings (loss) from continuing operations before income taxes	(19,221)	75,058	[1]	667,502
Provision for income taxes
Current	6,106	92,346	[1]	199,931
Deferred	(43,975)	(20,655)	[1]	4,485
Total provision for income taxes	(37,869)	71,691	[1]	204,416
Earnings from continuing operations	18,648	3,367	[1]	463,086
Earnings (loss) on discontinued operations, net of income taxes (Note 2)	11,666	(2,449)	[1]	(12,176)
Net earnings	$30,314	$918	[1]	$450,910
Basic earnings (loss) per share
Continuing operations	0.16	0.03	[1]	4.77
Discontinued operations	0.09	-0.02	[1]	-0.12
Net earnings per share	0.25	0.01	[1]	4.65
Diluted earnings (loss) per share
Continuing operations	0.16	0.03	[1]	4.66
Discontinued operations	0.09	-0.02	[1]	-0.12
Net earnings per share	0.25	0.01	[1]	4.54
Dividends declared per share	1.48	1.96	[1]	1.84
Weighted-average common shares outstanding, assuming dilution	119,430	110,954	[1]	99,403
Weighted-average common shares outstanding	118,891	109,774	[1]	97,036
[1](As Restated, See Note 20)

Consolidated Balance Sheets

Consolidated Balance Sheets (USD $)
In Thousands	Dec. 31, 2009	Dec. 31, 2008
Current assets
Cash and cash equivalents	$22,265	$10,194	[1]
Medium-term investments	4,111	36,734	[1]
Accounts and notes receivable
Customers, less allowance for doubtful accounts 2009 - $8,722; 2008 - $8,711	254,753	326,204	[1]
Other	13,271	30,773	[1]
Inventories	325,033	364,311	[1]
Deferred income taxes	57,967	71,205	[1]
Prepaid expenses	50,817	54,469	[1]
Assets held for sale	15,072	0	[1]
Total current assets	743,289	893,890	[1]
Investments and long-term receivables	33,283	27,998	[1]
Property, plant & equipment, net	3,874,671	4,155,812	[1]
Goodwill	3,093,979	3,085,468	[1]
Other intangible assets, net	682,643	673,792	[1]
Other assets	105,085	79,664	[1]
Total assets	8,532,950	8,916,624	[1]
Current liabilities
Current maturities of long-term debt	385,381	311,685	[1]
Short-term borrowings	236,512	1,082,500	[1]
Trade payables and accruals	121,324	147,104	[1]
Accrued salaries, wages and management incentives	38,148	44,858	[1]
Accrued interest	9,458	14,384	[1]
Other accrued liabilities	65,503	62,535	[1]
Liabilities of assets held for sale	369	0	[1]
Total current liabilities	856,695	1,663,066	[1]
Long-term debt	2,116,120	2,153,588	[1]
Deferred income taxes	887,268	920,475	[1]
Deferred management incentive and other compensation	33,327	34,770	[1]
Pension benefits	212,033	198,415	[1]
Other postretirement benefits	109,990	105,560	[1]
Asset retirement obligations	167,757	173,435	[1]
Other noncurrent liabilities	97,738	113,563	[1]
Total liabilities	4,480,928	5,362,872	[1]
Shareholders' equity
Common stock, $1 par value - 125,912 shares issued as of 2009 and 110,270 shares issued as of 2008	125,912	110,270	[1]
Capital in excess of par value	2,368,228	1,734,835	[1]
Retained earnings	1,752,240	1,893,929	[1]
Accumulated other comprehensive loss	(194,358)	(185,282)	[1]
Total shareholders' equity	4,052,022	3,553,752	[1]
Total liabilities and shareholders' equity	$8,532,950	$8,916,624	[1]
[1](As Restated, See Note 20)

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands	Dec. 31, 2009	Dec. 31, 2008
Accounts and notes receivable
Allowance for doubtful accounts	$8,722	$8,711
Shareholders' equity
Common stock, par value	1	1
Common stock, shares issued	125,912	110,270

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (USD $)
In Thousands	12 Months Ended Dec. 31, 2009		12 Months Ended Dec. 31, 2008		12 Months Ended Dec. 31, 2007
Operating Activities
Net earnings	$30,314		$918	[1]	$450,910
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation, depletion, accretion and amortization	394,612		389,060	[1]	271,475
Goodwill impairment	0		252,664	[1]	0
Net gain on sale of property, plant & equipment and businesses	(27,916)		(94,227)	[1]	(58,659)
Contributions to pension plans	(27,616)		(3,127)	[1]	(1,808)
Share-based compensation	23,120		19,096	[1]	16,942
Excess tax benefits from share-based compensation	(2,072)		(11,209)	[1]	(29,220)
Deferred tax provision	(43,773)		(19,756)	[1]	7,427
(Increase) decrease in assets before initial effects of business acquisitions and dispositions
Accounts and notes receivable	79,930		61,352	[1]	44,779
Inventories	39,289		(7,630)	[1]	(29,508)
Prepaid expenses	4,127		(23,425)	[1]	27,191
Other assets	(27,670)		(13,568)	[1]	(17,252)
Increase (decrease) in liabilities before initial effects of business acquisitions and dispositions
Accrued interest and income taxes	(2,854)		8,139	[1]	47,947
Trade payables and other accruals	(30,810)		(125,167)	[1]	(22,541)
Other noncurrent liabilities	28,263		15,128	[1]	(20,967)
Other, net	16,091		(13,063)	[1]	21,428
Net cash provided by operating activities	453,035		435,185	[1]	708,144
Investing Activities
Purchases of property, plant & equipment	(109,729)		(353,196)	[1]	(483,322)
Proceeds from sale of property, plant & equipment	17,750		25,542	[1]	88,939
Proceeds from sale of businesses	16,075		225,783	[1]	30,560
Payment for businesses acquired, net of acquired cash	(36,980)		(84,057)	[1]	(3,297,898)
Reclassification from cash equivalents to medium-term investments	0		(36,734)	[1]	0
Redemption of medium-term investments	33,282		0	[1]	0
Proceeds from loan on life insurance policies	0		28,646	[1]	0
Other, net	(400)		4,976	[1]	7,422
Net cash used for investing activities	(80,002)		(189,040)	[1]	(3,654,299)
Financing Activities
Net short-term borrowings (payments)	(847,963)		(1,009,000)	[1]	1,892,600
Payment of current maturities and long-term debt	(361,724)		(48,794)	[1]	(2,075)
Proceeds from issuance of long-term debt, net of discounts	397,660		949,078	[1]	1,223,579
Debt issuance costs	(3,033)		(5,633)	[1]	(9,173)
Settlements of forward starting interest rate swap agreements	0		(32,474)	[1]	(57,303)
Purchases of common stock	0		0	[1]	(4,800)
Proceeds from issuance of common stock	606,546		55,072	[1]	0
Dividends paid	(171,468)		(214,783)	[1]	(181,315)
Proceeds from exercise of stock options	17,327		24,602	[1]	35,074
Excess tax benefits from share-based compensation	2,072		11,209	[1]	29,220
Other, net	(379)		(116)	[1]	6
Net cash provided by (used for) financing activities	(360,962)		(270,839)	[1]	2,925,813
Net increase (decrease) in cash and cash equivalents	12,071		(24,694)	[1]	(20,342)
Cash and cash equivalents at beginning of year	10,194	[1]	34,888	[1]	55,230
Cash and cash equivalents at end of year	$22,265		$10,194	[1]	$34,888	[1]
[1](As Restated, See Note 20)

Consolidated Statements of Shar

Consolidated Statements of Shareholders Equity (USD $)
In Thousands	Previously Reported		Previously Reported Common Stock	Previously Reported Capital in Excess of Par Value	Previously Reported Retained Earnings	Previously Reported Accumulated Other Comprehensive Income (Loss)	Previously Reported Treasury Stock	Common Stock		Capital in Excess of Par Value	Retained Earnings		Accumulated Other Comprehensive Income (Loss)	Treasury Stock		Total
Balance Begining, shares at Dec. 31, 2006								139,705	[2]					(45,099)
Balance Begining at Dec. 31, 2006								$139,705	[2]	$191,695	$3,008,509	[1]	($4,953)	($1,298,074)		$2,036,882	[1]
Net earnings											450,910					450,910
Common stock issued
Acquisitions								12,604	[2]	1,423,883						1,436,487
Acquisitions, shares								12,604	[2]
Share-based compensation plans								26	[2]	26,566				10,858		37,450
Share-based compensation plans, shares								26	[2]					1,042
Share-based compensation expense										16,942						16,942
Excess tax benefits from share-based compensation										29,220						29,220
Accrued dividends on share-based compensation awards										497	(497)					0
Purchases of common stock														(4,800)		(4,800)
Purchases of common stock, shares														(44)
Cash dividends on common stock											(181,315)					(181,315)
Fair value adjustment to cash flow hedges, net of reclassification adjustment													(55,922)			(55,922)
Adjustment for funded status of pension and postretirement benefit plans, net of reclassification adjustment													20,658			20,658
Cumulative effect of accounting change (Note 1, New Accounting Standards, 2007 - Uncertainty in Income Taxes)											(940)					(940)
Other											11					11
Cancellation of treasury stock								(44,101)	[2]	(80,938)	(1,166,977)			1,292,016		0
Cancellation of treasury stock, shares								(44,101)	[2]					44,101
Accounting Change (Note 1, New Accounting Standards, 2008 - Retirement Benefits Measurement Date)											(1,312)		8,981			7,669
Balance Ending at Dec. 31, 2007	3,785,583	[1]	108,234	1,607,865	2,109,701	(40,217)	0	108,234	[2]	1,607,865	2,108,389	[1]	(31,236)	0		3,793,252	[1]
Balance Ending, shares at Dec. 31, 2007			108,234				0	108,234	[2]					0
Net earnings											918	[1]				918	[1]
Common stock issued
Acquisitions								1,152	[2]	78,948						80,100
Acquisitions, shares								1,152	[2]
Share-based compensation plans								884	[2]	17,130						18,014
Share-based compensation plans, shares								884	[2]
Share-based compensation expense										19,096						19,096
Excess tax benefits from share-based compensation										11,209						11,209
Accrued dividends on share-based compensation awards										593	(593)					0
Cash dividends on common stock											(214,783)					(214,783)
Fair value adjustment to cash flow hedges, net of reclassification adjustment													(672)			(672)
Adjustment for funded status of pension and postretirement benefit plans, net of reclassification adjustment													(153,375)			(153,375)
Other										(6)	(2)		1			(7)
Balance Ending at Dec. 31, 2008								110,270	[2]	1,734,835	1,893,929	[1]	(185,282)	0		3,553,752	[1]
Balance Ending, shares at Dec. 31, 2008								110,270	[2]					0
Net earnings											30,314					30,314
Common stock issued
Public offering								13,225	[2]	506,768						519,993
Public offering, shares								13,225	[2]
Acquisitions								789	[2]	33,073						33,862
Acquisitions, shares								789	[2]
401(k) Trustee (Note 13)								1,135	[2]	51,556						52,691
401(k) Trustee (Note 13), shares								1,135	[2]
Share-based compensation plans								493	[2]	16,279						16,772
Share-based compensation plans, shares								493	[2]
Share-based compensation expense										23,120						23,120
Excess tax benefits from share-based compensation										2,072						2,072
Accrued dividends on share-based compensation awards										521	(521)					0
Cash dividends on common stock											(171,468)					(171,468)
Fair value adjustment to cash flow hedges, net of reclassification adjustment													7,154			7,154
Adjustment for funded status of pension and postretirement benefit plans, net of reclassification adjustment													(16,229)			(16,229)
Other										4	(14)		(1)			(11)
Balance Ending at Dec. 31, 2009								$125,912	[2]	$2,368,228	$1,752,240		($194,358)	$0	[2]	$4,052,022
Balance Ending, shares at Dec. 31, 2009								125,912	[2]					0
[1](As Restated, See Note 20)
[2]Common stock, $1 par value, 480 million shares authorized in 2009, 2008, 2007

1_Consolidated Statements of Sh

Consolidated Statements of Shareholders Equity (Parenthetical) (USD $)
Share data in Millions	Dec. 31, 2009	Dec. 31, 2008	Dec. 31, 2007
Consolidated Statements of Shareholders' Equity [Abstract]
Common stock, par value	1	1	1
Common stock, shares authorized	480	480	480

Comprehensive Income (Loss)

Comprehensive Income (Loss) (USD $)
In Thousands	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008		12 Months Ended Dec. 31, 2007
Comprehensive income (loss)
Net earnings	$30,314	$918	[1]	$450,910
Other comprehensive income (loss)	(9,075)	(154,047)		(35,264)
Total comprehensive income (loss) (As Restated for 2008, See Note 20)	$21,239	($153,129)	[1]	$415,646
[1](As Restated, See Note 20)

Summary of Significant Accounti

Summary of Significant Accounting Policies
	12 Months Ended Dec. 31, 2009 USD / shares
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of operations Vulcan Materials Company (the Company, Vulcan, we, our), a New Jersey corporation, is the nations largest producer of construction aggregates, primarily crushed stone, sand and gravel; a major producer of asphalt mix and ready-mixed concrete and a leading producer of cement in Florida. On November16, 2007, we acquired 100% of the outstanding common stock of Florida Rock Industries, Inc. (Florida Rock), a leading producer of construction aggregates, cement, concrete and concrete products in the southeastern and mid-Atlantic states, in exchange for cash and stock. The acquisition further diversified the geographic scope of our operations. Due to the 2005 sale of our Chemicals business as presented in Note 2, the operating results of the Chemicals business are presented as discontinued operations in the accompanying Consolidated Statements of Earnings. See Note 15 for additional disclosure regarding nature of operations. Principles of consolidation The consolidated financial statements include the accounts of Vulcan Materials Company and all our majority or wholly owned subsidiary companies. All intercompany transactions and accounts have been eliminated in consolidation. Cash equivalents We classify as cash equivalents all highly liquid securities with a maturity of three months or less at the time of purchase. The carrying amount of these securities approximates fair value due to their short-term maturities. Medium-term investments At December31, 2009 and December31, 2008, we held investments with principal balances totaling approximately $5,554,000 and $38,837,000, respectively, in money market and other money funds at The Reserve, an investment management company specializing in such funds. The substantial majority of our investment was held in the Reserve International Liquidity Fund, Ltd. On September 15, 2008, Lehman Brothers Holdings Inc. filed for bankruptcy protection. In the following days, The Reserve announced that it was closing all of its money funds, some of which owned Lehman Brothers securities, and was suspending redemptions from and purchases of its funds, including the Reserve International Liquidity Fund. As a result of the temporary suspension of redemptions and the uncertainty as to the timing of such redemptions, we changed the classification of our investments in The Reserve funds from cash and cash equivalents to medium-term investments. Based on public statements issued by The Reserve and the maturity dates of the underlying investments, we believe that proceeds from the liquidation of the money funds in which we have investments will be received within twelve months of December31, 2009, and therefore such investments have been classified as current. During 2009 and the fourth quarter of 2008, The Reserve redeemed $33,282,000 and $258,000, respectively, of our investment. In addition, during the third quarter of 2008, we recognized a charge of $2,103,000 included in other income (expense), net to reduce the principal balance to an estimate of the fair value of our investment in these funds. During 2009, we

Discontinued Operations

Discontinued Operations
	12 Months Ended Dec. 31, 2009 USD / shares
Discontinued Operations [Abstract]
DISCONTINUED OPERATIONS	NOTE 2 DISCONTINUED OPERATIONS In June2005, we sold substantially all the assets of our Chemicals business, known as Vulcan Chemicals, to Basic Chemicals, a subsidiary of Occidental Chemical Corporation. In addition to the initial cash proceeds, Basic Chemicals was required to make payments under two earn-out agreements subject to certain conditions. The first earn-out agreement was based on ECU and natural gas prices during the five-year period beginning July1, 2005, and was capped at $150,000,000 (ECU earn-out or ECU derivative). During 2007, we received the final payment under the ECU earn-out of $22,142,000, bringing cumulative cash receipts to the $150,000,000 cap. Upward adjustments to the fair value of the ECU earn-out subsequent to closing, which totaled $51,070,000, were recorded in continuing operations, and therefore did not contribute to the gain or loss on the sale of the Chemicals business. During 2007, we recognized a gain related to changes in the fair value of the ECU earn-out of $1,929,000 (reflected as a component of other income, net in our Consolidated Statements of Earnings). Proceeds under the second earn-out agreement are based on the performance of the hydrochlorocarbon product HCC-240fa (commonly referred to as 5CP) from the closing of the transaction through December31, 2012 (5CP earn-out). Under this earn-out agreement, cash plant margin for 5CP, as defined in the Asset Purchase Agreement, in excess of an annual threshold amount is shared equally between Vulcan and Basic Chemicals. The primary determinant of the value for this earn-out is the level of growth in 5CP sales volume. At the June7, 2005 closing date, the value assigned to the 5CP earn-out was limited to an amount that resulted in no gain on the sale of the business, as such gain was contingent in nature. A gain on disposal of the Chemicals business is recognized to the extent cumulative cash receipts under the 5CP earn-out exceed the initial value recorded. Through December31, 2009, we have received a total of $33,913,000 under the 5CP earn-out. During 2009, we received payments totaling $11,625,000 related to the year ended December31, 2008. As these cash receipts exceeded the carrying amount of the 5CP receivable, during 2009 we recorded a gain on disposal of discontinued operations of $812,000. Any future payments received pursuant to the 5CP earn-out will be recorded as additional gain on disposal of discontinued operations. During 2008 and 2007, we received payments of $10,014,000 and $8,418,000, respectively, under the 5CP earn-out related to the respective years ended December31, 2007 and December31, 2006. The carrying amounts of the 5CP earn-out as of December31 are reflected in the accompanying Consolidated Balance Sheets as follows (in thousands of dollars): 2009 2008 5CP earn-out Accounts and notes receivable other $ 0 $ 9,737 Other noncurrent liabilities 0 1,077 Total $ 0 $ 10,814 We are liable for a cash transaction bonus payable in the future to certain key former Chemicals employees. This transaction bonus is payable if cash receipts re

Inventories

Inventories
	12 Months Ended Dec. 31, 2009 USD / shares
Inventories [Abstract]
INVENTORIES	NOTE 3 INVENTORIES Inventories at December31 are as follows (in thousands of dollars): 2009 2008 Finished products $ 261,752 $ 295,525 Raw materials 21,807 28,568 Products in process 3,907 4,475 Operating supplies and other 37,567 35,743 Total inventories $ 325,033 $ 364,311 In addition to the inventory balances presented above, as of December31, 2009, we have $21,091,000 of inventory classified as long-term assets (Other assets) as we do not expect to sell the inventory within one year. Inventories valued under the LIFO method total $252,494,000 at December31, 2009 and $269,598,000 at December31, 2008. During 2009, 2008 and 2007, inventory reductions resulted in liquidations of LIFO inventory layers carried at lower costs prevailing in prior years as compared to the cost of current-year purchases. The effect of the LIFO liquidation on 2009 results was to decrease cost of goods sold by $3,839,000; increase earnings from continuing operations by $2,273,000; and increase net earnings by $2,273,000. The effect of the LIFO liquidation on 2008 results was to decrease cost of goods sold by $2,654,000; increase earnings from continuing operations by $1,605,000; and increase net earnings by $1,605,000. The effect of the LIFO liquidation on 2007 results was to decrease cost of goods sold by $85,000; increase earnings from continuing operations by $52,000; and increase net earnings by $52,000. Estimated current cost exceeded LIFO cost at December31, 2009 and 2008 by $129,424,000 and $125,997,000, respectively. We use the LIFO method of valuation for most of our inventories as it results in a better matching of costs with revenues. We provide supplemental income disclosures to facilitate comparisons with companies not on LIFO. The supplemental income calculation is derived by tax-effecting the change in the LIFO reserve for the periods presented. If all inventories valued at LIFO cost had been valued under the methods (substantially average cost) used prior to the adoption of the LIFO method, the approximate effect on net earnings would have been an increase of $2,043,000 in 2009, an increase of $26,192,000 in 2008 and an increase of $15,518,000 in 2007.

Property, Plant & Equipment

Property, Plant & Equipment
	12 Months Ended Dec. 31, 2009 USD / shares
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT & EQUIPMENT	NOTE 4 PROPERTY, PLANT EQUIPMENT Balances of major classes of assets and allowances for depreciation, depletion and amortization at December31 are as follows (in thousands of dollars): 2009 2008 Land and land improvements $ 2,080,457 $ 2,043,702 Buildings 152,615 150,922 Machinery and equipment 4,091,209 4,001,194 Leaseholds 7,231 7,508 Deferred asset retirement costs 147,992 153,360 Construction in progress 173,757 279,187 Total $ 6,653,261 $ 6,635,873 Less allowances for depreciation, depletion and amortization 2,778,590 2,480,061 Property, plant equipment, net $ 3,874,671 $ 4,155,812 Capitalized interest costs with respect to qualifying construction projects and total interest costs incurred before recognition of the capitalized amount for the years ended December31 are as follows (in thousands of dollars): 2009 2008 2007 Capitalized interest cost $ 10,721 $ 14,243 $ 5,130 Total interest cost incurred before recognition of the capitalized amount 185,983 187,056 53,348 The recorded asset impairment losses related to long-lived assets were immaterial for all periods presented.

Derivative Instruments

Derivative Instruments
	12 Months Ended Dec. 31, 2009 USD / shares
Derivative Instruments [Abstract]
DERIVATIVE INSTRUMENTS	NOTE 5 DERIVATIVE INSTRUMENTS During the normal course of operation, we are exposed to market risks including fluctuations in interest rates, fluctuations in foreign currency exchange rates and changes in commodity pricing. From time to time, and consistent with our risk management policies, we use derivative instruments to hedge against these market risks. We do not utilize derivative instruments for trading or other speculative purposes. The interest rate swap agreements described below were designated as cash flow hedges of future interest payments. In December2007, we issued $325,000,000 of 3-year floating (variable)rate notes that bear interest at 3-month London Interbank Offered Rate (LIBOR)plus 1.25% per annum. Concurrently, we entered into a 3-year interest rate swap agreement in the stated (notional)amount of $325,000,000. Under this agreement, we pay a fixed interest rate of 5.25% and receive 3-month LIBOR plus 1.25% per annum. Concurrent with each quarterly interest payment, the portion of this swap related to that interest payment is settled and the associated realized gain or loss is recognized. For the 12-month period ending December31, 2010, we estimate that $11,193,000 of the pretax loss accumulated in Other Comprehensive Income (OCI)will be reclassified to earnings. Additionally, during 2007, we entered into fifteen forward starting interest rate swap agreements for a total notional amount of $1,500,000,000. On December11, 2007, upon the issuance of the related fixed-rate debt, we terminated and settled for a cash payment of $57,303,000 a portion of these forward starting swaps with an aggregate notional amount of $900,000,000 ($300,000,000 5-year, $350,000,000 10-year and $250,000,000 30-year). In December2007, the remaining forward starting swaps on an aggregate notional amount of $600,000,000 were extended to August29, 2008. On June20, 2008, upon the issuance of $650,000,000 of related fixed-rate debt, we terminated and settled for a cash payment of $32,474,000 the remaining forward starting swaps. Amounts accumulated in other comprehensive loss related to the highly effective portion of the fifteen forward starting interest rate swaps are being amortized to interest expense over the term of the related debt. For the 12-month period ending December31, 2010, we estimate that $7,624,000 of the pretax loss accumulated in OCI will be reclassified to earnings. Derivative instruments are recognized at fair value in the accompanying Consolidated Balance Sheets. At December31, the fair values of derivative instruments designated as hedging instruments are as follows (in thousands of dollars): Fair Value 1 Balance Sheet Location 2009 2008 Liability Derivatives Interest rate derivatives Other accrued liabilites $ 11,193 $ 0 Interest rate derivatives Other noncurrent liabilities 0 16,247 Total derivatives $ 11,193 $ 16,247 1 See Note 1 (caption Fair Value Measurements) for further discussion of the fair value determination. The effects of the cash flow hedge derivative instruments on t

Credit Facilities Short-Term Bo

Credit Facilities Short-Term Borrowings and Long-Term Debt
	12 Months Ended Dec. 31, 2009 USD / shares
Credit Facilities, Short-Term Borrowings and Long-Term Debt [Abstract]
CREDIT FACILITIES, SHORT-TERM BORROWINGS AND LONG-TERM DEBT	NOTE 6 CREDIT FACILITIES, SHORT-TERM BORROWINGS AND LONG-TERM DEBT Short-term borrowings at December31 are summarized as follows (in thousands of dollars): 2009 2008 Bank borrowings $ 0 $ 1,082,500 Commercial paper 236,512 0 Total short-term borrowings $ 236,512 $ 1,082,500 Bank borrowings Maturity n/a 2 days Weighted-average interest rate n/a 1.63 % Commercial paper Maturity 42 days n/a Weighted-average interest rate 0.39 % n/a We utilize our bank lines of credit as liquidity back-up for outstanding commercial paper or draw on the bank lines to access LIBOR-based short-term loans to fund our borrowing requirements. Periodically, we issue commercial paper for general corporate purposes, including working capital requirements. Our policy is to maintain committed credit facilities at least equal to our outstanding commercial paper. Unsecured bank lines of credit totaling $1,500,000,000 were maintained at the end of 2009, all of which expires November16, 2012. As of December31, 2009, there were no borrowings under the lines of credit. Interest rates referable to borrowings under these lines of credit are determined at the time of borrowing based on current market conditions. Pricing of bank loans, if any lines were drawn, would be 30 basis points (0.3%) over LIBOR based on our long-term debt ratings at December31, 2009. All lines of credit extended to us in 2009, 2008 and 2007 were based solely on a commitment fee; no compensating balances were required. In the normal course of business, we maintain balances for which we are credited with earnings allowances. To the extent the earnings allowances are not sufficient to fully compensate banks for the services they provide, we pay the fee equivalent for the differences. As of December31, 2009, $3,659,000 of our long-term debt, including current maturities, was secured. This secured debt was assumed with the November2007 acquisition of Florida Rock. All other debt obligations, both short-term borrowings and long-term debt, are unsecured. Long-term debt at December31 is summarized as follows (in thousands of dollars): 2009 2008 10.125% 2015 notes issued 20091 $ 149,538 $ 0 10.375% 2018 notes issued 20092 248,270 0 3-year floating loan issued 2008 175,000 285,000 6.30% 5-year notes issued 20083 249,632 249,543 7.00% 10-year notes issued 20084 399,625 399,595 3-year floating notes issued 2007 325,000 325,000 5.60% 5-year notes issued 20075 299,666 299,565 6.40% 10-year notes issued 20076 349,837 349,822 7.15% 30-year notes issued 20077 249,317 249,311 6.00% 10-year notes issued 1999 0 250,000 Private placement notes 15,243 15,375 Medium-term notes 21,000 21,000 Industrial revenue bonds 17,550 17,550 Other notes 1,823 3,512 Total debt excluding short-term borrowings $ 2,501,501 $ 2,465,273 Less current m

Operating Leases

Operating Leases
	12 Months Ended Dec. 31, 2009 USD / shares
Operating Leases [Abstract]
OPERATING LEASES	NOTE 7 OPERATING LEASES Total rental expense from continuing operations under operating leases primarily for machinery and equipment, exclusive of rental payments made under leases of one month or less, is summarized as follows (in thousands of dollars): 2009 2008 2007 | | | Minimum rentals $ 36,976 $ 34,263 $ 28,674 Contingent rentals (based principally on usage) 25,846 39,169 33,904 Total $ 62,822 $ 73,432 $ 62,578 Future minimum operating lease payments under all leases with initial or remaining noncancelable lease terms in excess of one year, exclusive of mineral leases, as of December31, 2009 are payable as follows (in thousands of dollars): Future Minimum Operating Lease Payments 2010 $ 27,102 2011 21,662 2012 19,405 2013 14,038 2014 6,360 Thereafter 29,579 Total $ 118,146 Lease agreements frequently include renewal options and require that we pay for utilities, taxes, insurance and maintenance expense. Options to purchase are also included in some lease agreements.

Accrued Environmental Remediati

Accrued Environmental Remediation Costs
	12 Months Ended Dec. 31, 2009 USD / shares
Accrued Environmental Remediation Costs [Abstract]
ACCRUED ENVIRONMENTAL REMEDIATION COSTS	NOTE 8 ACCRUED ENVIRONMENTAL REMEDIATION COSTS Our Consolidated Balance Sheets as of December31 include accrued environmental remediation costs as follows (in thousands of dollars): 2009 2008 Continuing operations $ 7,830 $ 8,366 Retained from former Chemicals businesses 5,001 5,342 Total $ 12,831 $ 13,708 The long-term portion of the accruals noted above is included in other noncurrent liabilities in the accompanying Consolidated Balance Sheets and amounted to $6,813,000 at December31, 2009 and $6,915,000 at December31, 2008. The short-term portion of these accruals is included in other accrued liabilities in the accompanying Consolidated Balance Sheets. The accrued environmental remediation costs in continuing operations relate primarily to the former Florida Rock, CalMat and Tarmac facilities acquired in 2007, 1999 and 2000, respectively. The balances noted above for Chemicals relate to retained environmental remediation costs from the 2003 sale of the Performance Chemicals business and the 2005 sale of the Chloralkali business.

Income Taxes

Income Taxes
	12 Months Ended Dec. 31, 2009 USD / shares
Income Taxes [Abstract]
INCOME TAXES	NOTE 9 INCOME TAXES The components of earnings (loss)from continuing operations before income taxes are as follows (in thousands of dollars): 2009 2008 2007 Domestic $ (43,180 ) $ 45,445 $ 643,350 Foreign 23,959 29,613 24,152 Total $ (19,221 ) $ 75,058 $ 667,502 Provision (benefit)for income taxes for continuing operations consists of the following (in thousands of dollars): 2009 2008 2007 (As Restated, See Note 20) Current Federal $ (3,965 ) $ 64,428 $ 172,149 State and local 7,034 20,883 21,894 Foreign 3,037 7,035 5,888 Total 6,106 92,346 199,931 Deferred Federal (37,790 ) (18,978 ) 6,601 State and local (5,794 ) (1,724 ) (488 ) Foreign (391 ) 47 (1,628 ) Total (43,975 ) (20,655 ) 4,485 Total provision (benefit) $ (37,869 ) $ 71,691 $ 204,416 The provision for income taxes differs from the amount computed by applying the federal statutory income tax rate to income before provision for income taxes. The sources and tax effects of the differences are as follows (in thousands of dollars): 2009 2008 2007 (As Restated, See Note 20) Income tax provision (benefit)at the federal statutory tax rate of 35% $ (6,727 ) 35.0 % $ 26,272 35.0 % $ 233,630 35.0 % Increase (decrease)in income tax provision (benefit)resulting from Statutory depletion (19,464 ) 101.3 % (28,063 ) -37.4 % (32,005 ) -4.8 % State and local income taxes, net of federal income tax benefit 1,457 -7.6 % 11,127 14.8 % 18,235 2.7 % Nondeductible expense 1,694 -8.8 % 1,619 2.2 % 1,706 0.3 % Goodwill impairment 0 0.0 % 65,031 86.6 % 0 0.0 % ESOP dividend deduction (2,408 ) 12.5 % (3,017 ) -4.0 % (2,450 ) -0.4 % U.S. Production Activities Deduction 0 0.0 % (2,203 ) -2.9 % (6,951 ) -1.0 % Fair market value over tax basis of contributions (2,931 ) 15.3 % (3,814 ) -5.1 % (4,994 ) -0.7 % Foreign tax rate differential (4,461 ) 23.2 % (4,955 ) -6.6 % (2,999 ) -0.4 % Tax loss on sale of stock divestiture (4,143 ) 21.6 % 0 0.0 % 0 0.0 % Reversal cash surrender value COLI plans (412 ) 2.1 % (486 ) -0.6 % 0 0.0 % Prior year true up adjustments 375 -2.0 % 1,932 2.5 % 1,636 0.2 % Provision for uncertain tax positions (451 ) 2.3 % 1,516 2.0 % (1,363 ) -0.3 % Gain on sale of goodwill on divested assets 0 0.0 % 6,937 9.3 % 0 0.0 %

Benefit Plans

Benefit Plans
	12 Months Ended Dec. 31, 2009 USD / shares
Benefit Plans [Abstract]
BENEFIT PLANS	NOTE 10 BENEFIT PLANS Pension plans We sponsor three funded, noncontributory defined benefit pension plans. These plans cover substantially all employees hired prior to July15, 2007, other than those covered by union-administered plans. Normal retirement age is 65, but the plans contain provisions for earlier retirement. Benefits for the Salaried Plan and a plan we assumed from Florida Rock are generally based on salaries or wages and years of service; the Construction Materials Hourly Plan provides benefits equal to a flat dollar amount for each year of service. Effective July15, 2007, we amended our defined benefit pension plans and our then existing defined contribution 401(k) plans to no longer accept new participants. Existing participants continue to accrue benefits under these plans. Salaried and non-union hourly employees hired on or after July15, 2007 are eligible for a new single defined contribution 401(k)/Profit-Sharing plan established on that date. Additionally, we sponsor unfunded, nonqualified pension plans, including one such plan assumed in the Florida Rock acquisition. The projected benefit obligation, accumulated benefit obligation and fair value of assets for these plans were: $70,089,000, $63,220,000 and $0 at December31, 2009 and $53,701,000, $49,480,000 and $0 at December31, 2008. Approximately $8,700,000 and $8,100,000 of the obligations at December31, 2009 and December31, 2008, respectively, relate to existing Florida Rock retirees receiving benefits under the assumed plan. The following table sets forth the combined funded status of the plans and their reconciliation with the related amounts recognized in our consolidated financial statements at December31 (in thousands of dollars): 2009 2008 Change in Benefit Obligation Benefit obligation at beginning of year $ 620,845 $ 636,270 Remeasurement adjustment 1 0 (21,020 ) Service cost 18,638 19,166 Interest cost 41,941 39,903 Actuarial (gain)loss 61,019 (21,819 ) Benefits paid (32,660 ) (31,655 ) Benefit obligation at end of year $ 709,783 $ 620,845 Change in Plan Assets Fair value of assets at beginning of year $ 418,977 $ 679,747 Remeasurement adjustment1 0 (2,809 ) Actual return on plan assets2 79,713 (229,164 ) Employer contribution 27,616 2,858 Benefits paid (32,660 ) (31,655 ) Fair value of assets at end of year $ 493,646 $ 418,977 Funded status $ (216,137 ) $ (201,868 ) Net amount recognized $ (216,137 ) $ (201,868 ) Amounts Recognized in the Consolidated Balance Sheets Noncurrent assets $ 0 $ 0 Current liabilities (4,104 ) (3,453 ) Noncurrent liabilities (212,033 ) (198,415 ) Net amount recognized $ (216,137 ) $ (201,868 ) Amounts Recognized in Accumulated Other Comprehensive Income Net actuarial loss $ 225,301 $ 199,141 Prior service cost 1,398 1,858 Total amount recognized $

Incentive Plans

Incentive Plans
	12 Months Ended Dec. 31, 2009 USD / shares
Incentive Plans [Abstract]
INCENTIVE PLANS	NOTE 11 INCENTIVE PLANS Share-based compensation plans Our 2006 Omnibus Long-term Incentive Plan (Plan) authorizes the granting of stock options, Stock-Only Stock Appreciation Rights (SOSARs) and other types of share-based awards to key salaried employees and non-employee directors. The maximum number of shares that may be issued under the Plan is 5,400,000. There are an additional 381,000 shares available for issuance under a Florida Rock shareholder approved plan that we assumed in connection with our merger. Shares under the Florida Rock plan are available for grants until September30, 2010. Deferred Stock Units Deferred stock units were granted to executive officers and key employees from 2001 through 2005. These awards vest ratably in years 6 through 10 following the date of grant, accrue dividend equivalents starting one year after grant, carry no voting rights and become payable upon vesting. A single deferred stock unit entitles the recipient to one share of common stock upon vesting. Vesting is accelerated upon retirement at age 62 or older, death, disability or change of control as defined in the award agreement. Nonvested units are forfeited upon termination of employment for any other reason. Expense provisions referable to these awards amounted to $1,317,000 in 2009, $1,206,000 in 2008 and $1,371,000 in 2007. The fair value of deferred stock units is estimated as of the date of grant based on the market price of our stock on the grant date. The following table summarizes activity for nonvested deferred stock units during the year ended December31, 2009: Weighted-average Number Grant Date of Shares Fair Value Nonvested at January1, 2009 238,100 $ 42.35 Granted 0 $ 0.00 Dividend equivalents accrued 10,729 $ 43.32 Vested (74,718 ) $ 40.31 Canceled/forfeited (609 ) $ 42.80 Nonvested at December31, 2009 173,502 $ 43.19 Performance Shares Each performance share unit is equal to and paid in one share of our common stock, but carries no voting or dividend rights. The units ultimately paid for performance share awards may range from 0% to 200% of target. Fifty percent of the payment is based upon our three-year-average Total Shareholder Return (TSR)performance relative to the three-year-average TSR performance of the SP 500. The remaining 50% of the payment is based upon the achievement of established internal financial performance targets. These awards vest on December31 of the third year after date of grant. Vesting is accelerated upon reaching retirement age, death, disability, or change of control, all as defined in the award agreement. Nonvested units are forfeited upon termination for any other reason. Expense provisions referable to these awards amounted to $5,350,000 in 2009, $6,227,000 in 2008 and $7,684,000 in 2007. The fair value of performance shares is estimated as of the date of grant using a Monte Carlo simulation model. Compensation cost is adjusted for the actual outcome of the internal financial performance target. The following table summarizes the activity for n

Commitments and Contingencies

Commitments and Contingencies
	12 Months Ended Dec. 31, 2009 USD / shares
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 12 COMMITMENTS AND CONTINGENCIES We have commitments in the form of unconditional purchase obligations as of December31, 2009. These include commitments for the purchase of property, plant equipment of $8,892,000 and commitments for noncapital purchases of $77,640,000. These commitments are due as follows (in thousands of dollars): Unconditional Purchase Obligations Property, Plant Equipment 2010 $ 7,985 2011-2012 907 Total $ 8,892 Noncapital 2010 $ 20,877 2011-2012 28,250 2013-2014 14,682 Thereafter 13,831 Total $ 77,640 Expenditures under the noncapital purchase commitments totaled $99,838,000 in 2009, $132,543,000 in 2008 and $135,721,000 in 2007. We have commitments in the form of minimum royalties under mineral leases as of December31, 2009 in the amount of $193,172,000, due as follows (in thousands of dollars): Mineral Leases Mineral Royalties 2010 $ 15,642 2011-2012 24,812 2013-2014 18,606 Thereafter 134,112 Total $ 193,172 Expenditures for mineral royalties under mineral leases totaled $43,501,000 in 2009, $50,697,000 in 2008 and $48,120,000 in 2007. We provide certain third parties with irrevocable standby letters of credit in the normal course of business. We use commercial banks to issue standby letters of credit to back our obligations to pay or perform when required to do so pursuant to the requirements of an underlying agreement. The standby letters of credit listed below are cancelable only at the option of the beneficiaries who are authorized to draw drafts on the issuing bank up to the face amount of the standby letter of credit in accordance with its terms. Since banks consider letters of credit as contingent extensions of credit, we are required to pay a fee until they expire or are canceled. Substantially all our standby letters of credit have a one-year term and are renewable annually at the option of the beneficiary. Our standby letters of credit as of December31, 2009 are summarized in the table below (in thousands of dollars): Standby Letters of Credit Risk management requirement for insurance claims $ 36,144 Payment surety required by utilities 133 Contractual reclamation/restoration requirements 11,931 Financing requirement for industrial revenue bond 14,230 Total standby letters of credit $ 62,438 Of the total $62,438,000 outstanding standby letters of credit, $59,154,000 is backed by our $1,500,000,000 bank credit facility which expires November16, 2012. As described in Note 2, we may be required to make cash payments in the form of a transaction bonus to certain key former Chemicals employees. The transaction bonus is contingent upon the amounts received under the two earn-out agreements entered into in connection with the sale of the Chemicals business. Amounts due are payable annually based on the prior years results. Based on the total cumulative receipts from the two earn-outs, we paid $521,000 in transaction bonuses during 2009. Future

Shareholders Equity

Shareholders Equity
	12 Months Ended Dec. 31, 2009 USD / shares
Stockholders' Equity [Abstract]
SHAREHOLDERS' EQUITY	NOTE 13 SHAREHOLDERS EQUITY In June2009, we completed a public offering of common stock (par value of $1 per share) resulting in the issuance of 13,225,000 common shares at a price of $41.00 per share. The total number of shares issued through the offering included 1,725,000 shares issued upon full exercise of the underwriters option to purchase additional shares. We received net proceeds of $519,993,000 (net of commissions and transaction costs of $22,232,000) from the sale of the shares. The net proceeds from the offering were used for debt reduction and general corporate purposes. The transaction increased shareholders equity by $519,993,000 (common stock $13,225,000 and capital in excess of par $506,768,000). During 2009, we issued 1,135,510 shares of common stock to the trustee of our 401(k) savings and retirement plan and received proceeds of $52,691,000. These issuances were made to satisfy the plan participants elections to invest in Vulcans common stock and this arrangement provides a means of improving cash flow, increasing shareholders equity and reducing leverage. During the second quarter of 2009, we issued 789,495 shares of common stock in connection with business acquisitions. We received net cash proceeds of $33,862,000 from the issuance of shares, and acquired the business for a cash payment of $36,980,000, net of acquired cash. During the first quarter of 2008, we issued 798,859 shares of common stock in connection with business acquisitions. We received net cash proceeds of $55,072,000 from the issuance of shares, and acquired the business for a cash payment of $55,763,000, including acquisition costs and net of acquired cash. During the second quarter of 2008, we issued 352,779 shares of common stock in connection with business acquisitions. In November2007, we issued 12,604,083 shares of common stock in connection with the acquisition of Florida Rock. On November16, 2007, pursuant to the terms of the agreement to acquire Florida Rock, all treasury stock held immediately prior to the close of the transaction was canceled. Our Board of Directors resolved to carry forward the existing authorization to purchase common stock. As of December31, 2009, 3,411,416 shares remained under the current purchase authorization. There were no shares held in treasury as of December31, 2009, 2008 and 2007. The number and cost of shares purchased during each of the last three years are shown below: 2009 2008 2007 Shares purchased Number 0 0 44,123 Total cost (thousands) $ 0 $ 0 $ 4,800 Average cost $ 0.00 $ 0.00 $ 108.78 The 44,123 shares purchased in 2007 were purchased directly from employees to satisfy income tax withholding requirements on shares issued pursuant to incentive compensation plans.

Other Comprehensive Income

Other Comprehensive Income (Loss)
	12 Months Ended Dec. 31, 2009 USD / shares
Other Comprehensive Income (Loss) [Abstract]
OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 14 OTHER COMPREHENSIVE INCOME (LOSS) Comprehensive income includes charges and credits to equity from nonowner sources and comprises two subsets: net earnings and other comprehensive income (loss). The components of other comprehensive income (loss)are presented in the accompanying Consolidated Statements of Shareholders Equity, net of applicable taxes. The amount of income tax (expense)benefit allocated to each component of other comprehensive income (loss)for the years ended December31, 2009, 2008 and 2007 is summarized as follows (in thousands of dollars): Before-tax Tax (Expense) Net-of-tax Amount Benefit Amount December31, 2009 Fair value adjustment to cash flow hedges $ (4,643 ) $ 1,895 $ (2,748 ) Reclassification adjustment for cash flow hedge amounts included in net earnings 16,728 (6,826 ) 9,902 Adjustment for funded status of pension and postretirement benefit plans (28,784 ) 11,417 (17,367 ) Amortization of pension and postretirement plan actuarial loss and prior service cost 1,886 (748 ) 1,138 Total other comprehensive income (loss) $ (14,813 ) $ 5,738 $ (9,075 ) December31, 2008 Fair value adjustment to cash flow hedges $ (12,190 ) $ 9,550 $ (2,640 ) Reclassification adjustment for cash flow hedge amounts included in net earnings 9,088 (7,120 ) 1,968 Adjustment for funded status of pension and postretirement benefit plans (255,616 ) 101,517 (154,099 ) Amortization of pension and postretirement plan actuarial loss and prior service cost 1,201 (477 ) 724 Total other comprehensive loss $ (257,517 ) 103,470 $ (154,047 ) December31, 2007 Fair value adjustment to cash flow hedges $ (92,718 ) $ 36,676 $ (56,042 ) Reclassification adjustment for cash flow hedge amounts included in net earnings 198 (78 ) 120 Adjustment for funded status of pension and postretirement benefit plans 31,163 (12,326 ) 18,837 Amortization of pension and postretirement plan actuarial loss and prior service cost 3,012 (1,191 ) 1,821 Total other comprehensive loss $ (58,345 ) $ 23,081 $ (35,264 ) Amounts accumulated in other comprehensive income (loss), net of tax, at December31, are as follows (in thousands of dollars): 2009 2008 2007 Cash flow hedges $ (49,365 ) $ (56,519 ) $ (55,847 ) Pension and postretirement plans (144,993 ) (128,763 ) 15,630 Accumulated other comprehensive income (loss) $ (194,358 ) $ (185,282 ) $ (40,217 )

Segment Reporting - Continuing

Segment Reporting - Continuing Operations
	12 Months Ended Dec. 31, 2009 USD / shares
Segment Reporting - Continuing Operations [Abstract]
SEGMENT REPORTING - CONTINUING OPERATIONS	NOTE 15 SEGMENT REPORTING CONTINUING OPERATIONS We have four operating segments organized around our principal product lines: aggregates, asphalt mix, concrete and cement. For reporting purposes, we have combined our Asphalt mix and Concrete operating segments into one reporting segment as the products are similar in nature and the businesses exhibit similar economic characteristics, production processes, types and classes of customer, methods of distribution and regulatory environments. Management reviews earnings from the product line reporting units principally at the gross profit level. The Aggregates segment produces and sells aggregates and related products and services in eight regional divisions. During 2009, the Aggregates segment principally served markets in 21 states and the District of Columbia, the Bahamas, Canada, the Cayman Islands, Chile and Mexico with a full line of aggregates, and 9 additional states with railroad ballast. Customers use aggregates primarily in the construction and maintenance of highways, streets and other public works and in the construction of housing and commercial, industrial and other nonresidential facilities. Customers are served by truck, rail and water distribution networks from our production facilities and sales yards. Due to the high weight-to-value ratio of aggregates, markets generally are local in nature. Quarries located on waterways and rail lines allow us to serve remote markets where local aggregates reserves may not be available. We sell a relatively small amount of construction aggregates outside the United States. Nondomestic net sales were $20,118,000 in 2009, $25,295,000 in 2008 and $19,981,000 in 2007. The Asphalt mix and Concrete segment produces and sells asphalt mix and ready-mixed concrete in four regional divisions serving eight states primarily in our mid-Atlantic, Florida, southwestern and western markets and the Bahamas. Additionally, two of the divisions produce and sell other concrete products such as block and precast and resell purchased building materials related to the use of ready-mixed concrete and concrete block. Aggregates comprise approximately 95% of asphalt mix by weight and 78% of ready-mixed concrete by weight. Our Asphalt mix and Concrete segment is almost wholly supplied with its aggregates requirements from our Aggregates segment. These transfers are made at local market prices for the particular grade and quality of product utilized in the production of asphalt mix and ready-mixed concrete. Customers for our Asphalt mix and Concrete segment are generally served locally at our production facilities or by truck. Because ready-mixed concrete and asphalt mix harden rapidly, delivery is time constrained and generally confined to a radius of approximately 20 to 25 miles from the producing facility. The Cement segment produces and sells Portland and masonry cement in both bulk and bags from our Florida cement plant. Other Cement segment facilities in Florida import cement, clinker and slag and either resell, grind, blend, bag or reprocess those materials. This segment also includes a Florida facility that mines, produces and sells calcium produ

Supplemental Cash Flow Informat

Supplemental Cash Flow Information
	12 Months Ended Dec. 31, 2009 USD / shares
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	NOTE 16 SUPPLEMENTAL CASH FLOW INFORMATION Supplemental information referable to the Consolidated Statements of Cash Flows is summarized below (in thousands of dollars): 2009 2008 2007 Cash payments (refunds) Interest $ 181,352 $ 179,880 $ 41,933 Income taxes (25,184 ) 91,544 132,697 Noncash investing and financing activities Accrued liabilities for purchases of property, plant equipment $ 13,459 $ 22,974 $ 32,065 Note received from sale of business 1,450 0 0 Carrying value of noncash assets and liabilities exchanged 0 42,974 0 Debt issued for purchases of property, plant equipment 1,987 389 19 Proceeds receivable from exercise of stock options 0 325 152 Amounts referable to business acquisitions Liabilities assumed 0 2,024 588,184 Fair value of stock issued 0 25,023 1,436,487

Asset Retirement Obligations

Asset Retirement Obligations
	12 Months Ended Dec. 31, 2009 USD / shares
Asset Retirement Obligations [Abstract]
ASSET RETIREMENT OBLIGATIONS	NOTE 17 ASSET RETIREMENT OBLIGATIONS Asset retirement obligations are legal obligations associated with the retirement of long-lived assets resulting from the acquisition, construction, development and/or normal use of the underlying assets. Recognition of a liability for an asset retirement obligation is required in the period in which it is incurred at its estimated fair value. The associated asset retirement costs are capitalized as part of the carrying amount of the underlying asset and depreciated over the estimated useful life of the asset. The liability is accreted through charges to operating expenses. If the asset retirement obligation is settled for other than the carrying amount of the liability, we recognize a gain or loss on settlement. We record all asset retirement obligations for which we have legal obligations for land reclamation at estimated fair value. Essentially all these asset retirement obligations relate to our underlying land parcels, including both owned properties and mineral leases. For the years ended December31, we recognized asset retirement obligation (ARO)operating costs related to accretion of the liabilities and depreciation of the assets as follows (in thousands of dollars): 2009 2008 2007 ARO Operating Costs Accretion $ 8,802 $ 7,082 $ 5,866 Depreciation 13,732 15,504 13,172 Total $ 22,534 $ 22,586 $ 19,038 ARO operating costs for our continuing operations are reported in cost of goods sold. Asset retirement obligations are reported within other noncurrent liabilities in our accompanying Consolidated Balance Sheets. Reconciliations of the carrying amounts of our asset retirement obligations for the years ended December31 are as follows (in thousands of dollars): 2009 2008 Asset retirement obligations at beginning of year $ 173,435 $ 131,383 Liabilities incurred 539 39,926 Liabilities settled (10,610 ) (17,633 ) Accretion expense 8,802 7,082 Revisions up (down), net (4,409 ) 12,677 Asset retirement obligations at end of year $ 167,757 $ 173,435 Of the $39,926,000 of liabilities incurred during 2008, $37,234,000 relates to reclamation activity required under new development agreements and conditional use permits (collectively the agreements) at two aggregates facilities on owned property near Los Angeles, California. The new agreements allow us access to significant amounts of aggregates reserves at two existing pits, which we expect will result in a significant increase in the mining lives of these quarries. The reclamation requirements under these agreements will result in the restoration and development of mined property into 110 acre and 90 acre tracts suitable for commercial and retail development. Revisions to our asset retirement obligations during 2009 and 2008 relate primarily to changes in cost estimates and settlement dates at numerous sites. The underlying increase in cost estimates during 2008 was largely attributable to rising energy-related costs, incl

Goodwill and Intangible Assets

Goodwill and Intangible Assets
	12 Months Ended Dec. 31, 2009 USD / shares
Goodwill and Intangible Assets [Abstract]
GOODWILL AND INTANGIBLE ASSETS	NOTE 18 GOODWILL AND INTANGIBLE ASSETS We classify purchased intangible assets into three categories: (1)goodwill, (2)intangible assets with finite lives subject to amortization and (3)intangible assets with indefinite lives. Goodwill and intangible assets with indefinite lives are not amortized; rather, they are reviewed for impairment at least annually. For additional information regarding our policies on impairment reviews, see Note 1 under the captions Goodwill and Goodwill Impairment and Impairment of Long-lived Assets Excluding Goodwill. Goodwill Goodwill is recognized when the consideration paid for a business combination (acquisition) exceeds the fair value of the tangible and other intangible assets acquired. Goodwill is allocated to reporting units for purposes of testing goodwill for impairment. At December31, 2008, ongoing disruptions in the credit and equity markets and weak levels of construction activity, underscored by the negative effects of the prolonged global recession, prompted an increase in our discount rates, which reflect our estimated cost of capital plus a risk premium. The results of our annual impairment test performed as of January1, 2009 indicated that the estimated fair value of our Cement reporting unit was less than the carrying amount at that time. The estimated fair value was used in the second step of the impairment test as the purchase price in a hypothetical purchase price allocation to the reporting units assets and liabilities. The carrying values of deferred taxes and certain long-term assets were adjusted to reflect their estimated fair values for purposes of the second step of the impairment test and the hypothetical purchase price allocation. The residual amount of goodwill that resulted from this hypothetical purchase price allocation was compared to the recorded amount of goodwill for the reporting unit to determine if impairment existed. Based on the results of this analysis, we concluded that the entire amount of goodwill at this reporting unit was impaired and we recorded a $252,664,000 ($227,581,000 net of tax benefit) noncash impairment charge for the year ended December31, 2008. The 2008 goodwill impairment charge is a noncash item and does not affect our operations, cash flow or liquidity. Our credit agreements and outstanding indebtedness were not impacted by this noncash impairment charge. The income tax benefit associated with this charge was substantially below our normally expected income tax rate because the majority of the goodwill impairment relates to nondeductible goodwill for federal income tax purposes. There were no charges for goodwill impairment in the years ended December31, 2009 and 2007. We have three reportable segments organized around our principal product lines: aggregates; asphalt mix and concrete; and cement. Changes in the carrying amount of goodwill by reportable segment for the years ended December31, 2009, 2008 and 2007 are summarized below (in thousands of dollars): Goodwill Asphalt mix Aggregates and Concrete Cement Total Gross carrying amount

Acquisitions and Divestitures

Acquisitions and Divestitures
	12 Months Ended Dec. 31, 2009 USD / shares
Acquisitions and Divestitures [Abstract]
ACQUISITIONS AND DIVESTITURES	NOTE 19 ACQUISITIONS AND DIVESTITURES 2009 Pending divestitures As of December31, 2009, assets held for sale and liabilities of assets held for sale presented in the accompanying Consolidated Balance Sheets relate to an aggregates production facility and ready-mixed concrete operation located outside the United States. We expect the transaction to close during the first quarter of 2010. The major classes of assets and liabilities of assets classified as held for sale are as follows (in thousands of dollars): December 31, 2009 Current assets $ 3,799 Property, plant equipment, net 11,117 Intangible assets 96 Other assets 60 Total assets held for sale $ 15,072 Current liabilities $ 369 Total liabilities of assets held for sale $ 369 2009 Acquisitions and divestitures In 2009, we acquired the following assets for approximately $38,955,000 (total note and cash consideration) net of acquired cash: leasehold interest in a rail-served aggregates distribution yard two aggregates production facilities As a result of these 2009 acquisitions, we recognized $9,558,000 of goodwill and $12,428,000 of amortizable intangible assets, all of which are expected to be fully deductible for income tax purposes. The purchase price allocations for these 2009 acquisitions are preliminary and subject to adjustment. In 2009, we divested the following assets for approximately $7,043,000 (total note and cash consideration): dock and transloading facility interest in an aggregates production facility During 2009, we received $3,000,000 of contingent consideration related to the 2008 divestiture of an aggregates production facility located in Georgia. 2008 Acquisitions and divestitures As a result of the November2007 Florida Rock acquisition, we entered into a Final Judgment with the Antitrust Division of the U.S. Department of Justice (DOJ)that required us to divest nine Florida Rock and Legacy Vulcan sites. During 2008, we completed the required divestitures. In a transaction with Luck Stone Corporation, we divested two former Florida Rock sites in Virginia, an aggregates production facility and a distribution yard, by exchanging these assets for cash and two aggregates production facilities in Virginia. In a transaction with Martin Marietta Materials, Inc. (Martin Marietta), we divested four aggregates production facilities and a greenfield (undeveloped) aggregates site located in Georgia, and an aggregates production facility located in Tennessee. In return, we received cash, an aggregates production facility near Sacramento, California, real property with proven and permitted reserves adjacent to one of our aggregates production facilities in San Antonio, Texas, and fee ownership of property at one of our aggregates production facilities in North Carolina that we had previously leased from Martin Marietta. In a separate transaction, we sold our interest in an aggregates production facility in Georgia to The Concrete Company, which had been the joint venture partner with Florida Rock in this operation. Two of the divested

Correction of Prior Period Fina

Correction of Prior Period Financial Statements
	12 Months Ended Dec. 31, 2009 USD / shares
Correction of Prior Period Financial Statements [Abstract]
CORRECTION OF PRIOR PERIOD FINANCIAL STATEMENTS	NOTE 20 CORRECTION OF PRIOR PERIOD FINANCIAL STATEMENTS During 2009 we completed a comprehensive analysis of our deferred income tax balances and concluded that our deferred income tax liabilities were overstated. The errors arose during the fourth quarter of 2008 and during periods prior to January1, 2006, and are not material to previously issued financial statements. However, correcting the errors in 2009 would have had a material impact on this years Consolidated Statement of Earnings, specifically the deferred tax provision. As a result, we have restated all affected prior period financial statements presented in this Form 10-K. The errors that arose during the fourth quarter of 2008 related to the calculations of deferred income taxes referable to the Florida Rock acquisition and the combined effective income tax rate used to compute deferred income tax account balances. The correction of these errors resulted in a decrease to deferred income tax liabilities of $2,578,000, an increase to goodwill referable to our Aggregates segment of $2,455,000, and a $5,033,000 increase to the deferred income tax benefit and net earnings, improving earnings per diluted share by $0.05 for the year ended December31, 2008. The errors that arose during periods prior to January1, 2006 resulted in an overstatement of deferred income tax liabilities of $25,983,000. Based on the work performed to confirm the current and deferred income tax provisions recorded during 2006, 2007 and 2008, and to determine the correct deferred income tax account balances as of January1, 2006, we were able to substantiate that the $25,983,000 overstatement related to periods prior to January1, 2006. The correction of these errors resulted in a decrease to deferred income tax liabilities and a corresponding increase to retained earnings of $25,983,000 as of January1, 2006. A summary of the effects of the correction of these errors on our consolidated financial statements as of and for the year ended December31, 2008, are presented in the tables below (amounts and shares in thousands, except per share data): For the year ended December 31, 2008 As As Reported Correction Restated Statement of Earnings Earnings from continuing operations before income taxes $ 75,058 $ 0 $ 75,058 Provision for income taxes Current 92,346 0 92,346 Deferred (15,622 ) (5,033 ) (20,655 ) Total provision for income taxes 76,724 (5,033 ) 71,691 Earnings (loss)from continuing operations (1,666 ) 5,033 3,367 Loss on discontinued operations, net of income taxes (2,449 ) 0 (2,449 ) Net earnings (loss) $ ( 4,115 ) $ 5,033 $ 918 Basic and diluted earnings (loss)per share Continuing operations $ (0.02 ) $ 0.05 $ 0.03 Discontinued operations $ (0.02 ) $ 0.00 $ ( 0.02 ) Net earnings (loss)per share $ ( 0.04 ) $ 0.05 $ 0.01 Weighted-average common shares outstanding, assuming dilution 109,77

Unaudited Supplementary Data

Unaudited Supplementary Data
	12 Months Ended Dec. 31, 2009 USD / shares
Unaudited Supplementary Data [Abstract]
UNAUDITED SUPPLEMENTARY DATA	NOTE 21 UNAUDITED SUPPLEMENTARY DATA The following is a summary of selected quarterly financial information (unaudited)for each of the years ended December31, 2009 and 2008 (amounts in thousands, except per share data): 2009 Three Months Ended March 31 June 30 Sept 30 Dec 31 | | | | Net sales $ 567,895 $ 681,380 $ 738,664 $ 555,768 Total revenues 600,294 721,859 778,192 590,145 Gross profit 77,607 145,834 154,480 68,041 Operating earnings (loss) (1,326 ) 65,684 82,704 1,390 Earnings (loss)from continuing operations (32,255 ) 15,561 47,924 (12,582 ) Net earnings (loss) (32,780 ) 22,212 54,232 (13,350 ) Basic earnings (loss)per share from continuing operations $ (0.29 ) $ 0.14 $ 0.38 $ (0.10 ) Diluted earnings (loss)per share from continuing operations $ (0.29 ) $ 0.14 $ 0.38 $ (0.10 ) Basic net earnings (loss)per share $ (0.30 ) $ 0.20 $ 0.43 $ (0.11 ) Diluted net earnings (loss)per share $ (0.30 ) $ 0.20 $ 0.43 $ (0.11 ) 2008 Three Months Ended March 31 June 30 Sept 30 Dec 31 (As Restated, See Below) Net sales $ 771,762 $ 965,957 $ 958,839 $ 756,523 Total revenues 817,339 1,021,551 1,013,349 799,199 Gross profit 154,450 245,226 200,846 149,190 Operating earnings (loss) 66,758 238,469 128,303 (184,428 ) Earnings (loss)from continuing operations 14,485 141,225 59,816 (212,159 ) Net earnings (loss) 13,933 140,755 59,050 (212,820 ) Basic earnings (loss)per share from continuing operations $ 0.13 $ 1.28 $ 0.54 $ (1.92 ) Diluted earnings (loss)per share from continuing operations $ 0.13 $ 1.27 $ 0.54 $ (1.92 ) Basic net earnings (loss)per share $ 0.13 $ 1.28 $ 0.54 $ (1.93 ) Diluted net earnings (loss)per share $ 0.13 $ 1.27 $ 0.53 $ (1.93 ) For the three months ended December 31, 2008 As As Reported Correction Restated Earnings (loss)from continuing operations $ (217,192 ) $ 5,033 $ (212,159 ) Net earnings (loss) (217,853 ) 5,033 (212,820 ) Basic earnings (loss)per share Continuing operations $ (1.97 ) $ 0.05 $ (1.92 ) Net earnings (loss)per share $ (1.97 ) $ 0.04 $ (1.93 ) Diluted earnings (loss)per share Continuing operations $ (1.97 ) $ 0.05 $ (1.92 ) Net earnings (loss)per share $ (1.97 ) $ 0.04 $ (1.93 )

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts and Reserves
	12 Months Ended Dec. 31, 2009 USD / shares
Valuation and Qualifying Accounts and Reserves [Abstract]
Valuation and Qualifying Accounts and Reserves	Schedule Of Valuation And Qualifying Accounts Disclosure SCHEDULE II Vulcan Materials Company and Subsidiary Companies VALUATION AND QUALIFYING ACCOUNTS AND RESERVES For the Years Ended December31, 2009, 2008 and 2007 Amounts in Thousands Column A Column B Column C Column D Column E Column F Balance at Additions Charged To Balance at Beginning Costs and Other End Description Of Period Expenses Accounts Deductions Of Period 2009 Accrued Environmental Costs $ 13,708 $ 1,093 $ 0 $ 1,970 1 $ 12,831 Asset Retirement Obligations 173,435 8,802 (3,870 )2 10,610 3 167,757 Doubtful Receivables 8,711 4,173 0 4,162 4 8,722 Self-Insurance Reserves 56,912 15,503 0 17,149 5 55,266 All Other 6 901 3,517 0 3,641 777 2008 Accrued Environmental Costs $ 9,756 $ 451 $ 4,698 7 $ 1,197 1 $ 13,708 Asset Retirement Obligations 131,383 7,082 52,603 2 17,633 3 173,435 Doubtful Receivables 6,015 5,393 0 2,697 4 8,711 Self-Insurance Reserves 61,298 23,191 0 27,577 5 56,912 All Other 6 1,244 5,120 0 5,463 901 2007 Accrued Environmental Costs $ 13,394 $ 966 $ 175 7 $ 4,779 1 $ 9,756 Asset Retirement Obligations 114,829 5,866 24,487 2 13,799 3 131,383 Doubtful Receivables 3,355 1,144 2,283 7 767 4 6,015 Self-Insurance Reserves 45,197 17,182 11,209 7 12,290 5 61,298 All Other6 589 1,518 302 7 1,165 1,244 1 Expenditures on environmental remediation projects. 2 Net up/down revisions to asset retirement obligations. 3 Expenditures related to settlements of asset retirement obligations. 4 Write-offs of uncollected accounts and worthless notes, less recoveries. 5 Expenditures on self-insurance reserves. 6 Valuation and qualifying accounts and reserves for which additions, deductions and balances are individually insignificant. 7 The 2008 and 2007 amounts include additions related to the acquisition of Florida Rock.