Summit Materials (SUM) 10-Q 6 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 29, 2024	Aug. 02, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2024
Document Transition Report	false
Entity File Number	001-36873
Entity Registrant Name	SUMMIT MATERIALS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-1984212
Entity Address, Address Line One	1801 California Street
Entity Address, Address Line Two	Suite 3500
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	303
Local Phone Number	893-0012
Title of 12(b) Security	Class A Common Stock (par value $.01 per share)
Trading Symbol	SUM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001621563
Amendment Flag	false
Current Fiscal Year End Date	--12-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		175,586,471
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Current assets:
Cash and cash equivalents	$ 538,708	$ 374,162
Restricted cash	0	800,000
Accounts receivable, net	550,093	287,252
Costs and estimated earnings in excess of billings	33,948	10,289
Inventories	349,099	241,350
Other current assets	28,461	17,937
Current assets held for sale	446	1,134
Total current assets	1,500,755	1,732,124
Property, plant and equipment, less accumulated depreciation, depletion and amortization (June 29, 2024 - $1,509,453 and December 30, 2023 - $1,399,468)	4,354,088	1,976,820
Goodwill	2,093,010	1,224,861
Intangible assets, less accumulated amortization (June 29, 2024 - $39,586 and December 30, 2023 - $18,972)	168,282	68,081
Deferred tax assets, less valuation allowance (June 29, 2024 - $1,113 and December 30, 2023 - $1,113)	0	52,009
Operating lease right-of-use assets	89,360	36,553
Other assets	108,497	59,134
Total assets	8,313,992	5,149,582
Current liabilities:
Current portion of debt	7,575	3,822
Current portion of acquisition-related liabilities	8,987	7,007
Accounts payable	282,091	123,621
Accrued expenses	250,355	171,691
Current operating lease liabilities	17,217	8,596
Billings in excess of costs and estimated earnings	7,635	8,228
Total current liabilities	573,860	322,965
Long-term debt	2,771,463	2,283,639
Acquisition-related liabilities	21,217	28,021
Tax receivable agreement liability	47,667	41,276
Deferred tax liabilities	189,138	15,854
Noncurrent operating lease liabilities	77,326	33,230
Other noncurrent liabilities	300,577	108,017
Total liabilities	3,981,248	2,833,002
Commitments and contingencies (see note 12)
Stockholders’ equity:
Preferred stock	0	0
Additional paid-in capital	3,412,879	1,421,813
Accumulated earnings	915,960	876,751
Accumulated other comprehensive income	2,148	7,275
Stockholders’ equity	4,332,744	2,307,035
Noncontrolling interest in Summit Holdings	0	9,545
Total stockholders’ equity	4,332,744	2,316,580
Total liabilities and stockholders’ equity	8,313,992	5,149,582
Common Class A
Stockholders’ equity:
Common stock	1,757	1,196
Common Class B
Stockholders’ equity:
Common stock	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Accumulated depreciation, depletion and amortization	$ 1,509,453	$ 1,399,468
Accumulated amortization	39,586	18,972
Valuation allowance	$ 1,113	$ 1,113
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	250,000,000	250,000,000
Preferred stock, shares issued (in shares)	1	0
Preferred stock, shares outstanding (in shares)	1	0
Common Class A
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	175,586,471	119,529,380
Common stock, shares outstanding (in shares)	175,586,471	119,529,380
Common Class B
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	0	99
Common stock, shares outstanding (in shares)	0	99

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Revenue:
Total revenue	$ 1,118,262	$ 729,150	$ 1,923,277	$ 1,164,538
Cost of revenue (excluding items shown separately below):
Total cost of revenue	750,009	492,403	1,374,020	846,440
General and administrative expenses	83,875	53,838	152,401	99,836
Depreciation, depletion, amortization and accretion	104,397	54,787	200,368	105,681
Transaction and integration costs	10,265	1,712	72,473	2,076
Gain on sale of property, plant and equipment	(3,180)	(3,223)	(4,028)	(3,653)
Operating income	172,896	129,633	128,043	114,158
Interest expense	52,849	27,902	104,741	55,322
Loss on debt financings	0	0	5,453	493
Gain on sale of businesses	(3,758)	0	(18,743)	0
Other income, net	(8,086)	(5,478)	(16,964)	(11,188)
Income from operations before taxes	131,891	107,209	53,556	69,531
Income tax expense	25,816	22,481	14,751	16,015
Net income	106,075	84,728	38,805	53,516
Net income (loss) attributable to noncontrolling interest in Summit Holdings	0	1,091	(404)	683
Net income attributable to Summit Inc.	$ 106,075	$ 83,637	$ 39,209	$ 52,833
Common Class A
Earnings per share of Class A common stock:
Basic (in usd per share)	$ 0.60	$ 0.70	$ 0.23	$ 0.44
Diluted (in usd per share)	$ 0.60	$ 0.70	$ 0.23	$ 0.44
Weighted average shares of Class A common stock:
Basic (in shares)	175,510,071	118,848,214	171,478,056	118,706,385
Diluted (in shares)	176,132,001	119,393,709	172,308,044	119,431,604
Common Class A And Restricted Stock
Earnings per share of Class A common stock:
Basic (in usd per share)	$ 0.60	$ 0.70	$ 0.23	$ 0.44
Weighted average shares of Class A common stock:
Basic (in shares)	175,550,487	118,931,914	171,531,031	118,805,785
Diluted (in shares)	176,132,001	119,393,709	172,308,044	119,431,604
Excluding delivery and subcontract revenue
Revenue:
Total revenue	$ 1,075,471	$ 680,373	$ 1,848,700	$ 1,087,643
Cost of revenue (excluding items shown separately below):
Total cost of revenue	707,218	443,626	1,299,443	769,545
Product
Revenue:
Total revenue	993,741	595,714	1,722,435	967,886
Cost of revenue (excluding items shown separately below):
Total cost of revenue	650,088	377,634	1,206,108	673,515
Service
Revenue:
Total revenue	81,730	84,659	126,265	119,757
Cost of revenue (excluding items shown separately below):
Total cost of revenue	57,130	65,992	93,335	96,030
Delivery and subcontract revenue
Revenue:
Total revenue	42,791	48,777	74,577	76,895
Cost of revenue (excluding items shown separately below):
Total cost of revenue	$ 42,791	$ 48,777	$ 74,577	$ 76,895

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Comprehensive income (loss)
Net income	$ 106,075	$ 84,728	$ 38,805	$ 53,516
Other comprehensive income (loss):
Foreign currency translation adjustment	(2,015)	3,902	(6,739)	4,105
Less tax effect of other comprehensive income (loss) items	473	(779)	1,612	(818)
Other comprehensive (loss) income	(1,542)	3,123	(5,127)	3,287
Comprehensive income	104,533	87,851	33,678	56,803
Less comprehensive income (loss) attributable to Summit Holdings	0	1,133	(404)	728
Comprehensive income attributable to Summit Inc.	$ 104,533	$ 86,718	$ 34,082	$ 56,075

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Cash flows from operating activities:
Net income	$ 38,805	$ 53,516
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	206,668	110,659
Share-based compensation expense	14,133	9,924
Net gain on asset and business disposals	(22,773)	(3,655)
Non-cash loss on debt financings	5,453	161
Change in deferred tax asset, net	2,976	9,350
Other	1,163	(21)
Decrease (increase) in operating assets, net of acquisitions and dispositions:
Accounts receivable, net	(104,579)	(101,119)
Inventories	(11,552)	(27,115)
Costs and estimated earnings in excess of billings	(24,076)	(28,760)
Other current assets	2,509	(1,070)
Other assets	3,922	1,732
(Decrease) increase in operating liabilities, net of acquisitions and dispositions:
Accounts payable	7,700	52,157
Accrued expenses	(4,584)	19,048
Billings in excess of costs and estimated earnings	(144)	1,299
Tax receivable agreement (benefit) expense	6,227	(531)
Other liabilities	(10,444)	(1,533)
Net cash provided by operating activities	111,404	94,042
Cash flows from investing activities:
Acquisitions, net of cash acquired	(1,113,267)	(237,666)
Purchase of intellectual property	(21,400)	0
Purchases of property, plant and equipment	(175,960)	(126,893)
Proceeds from the sale of property, plant and equipment	14,217	5,760
Proceeds from sale of businesses	86,031	0
Other	(2,070)	(1,852)
Net cash used in investing activities	(1,212,449)	(360,651)
Cash flows from financing activities:
Proceeds from debt issuances	1,007,475	0
Debt issuance costs	(17,731)	(1,566)
Payments on debt	(509,765)	(6,720)
Payments on acquisition-related liabilities	(6,289)	(11,539)
Proceeds from stock option exercises	1,580	84
Other	(8,088)	(4,838)
Net cash provided by (used in) financing activities	467,182	(24,579)
Impact of foreign currency on cash	(1,591)	747
Net decrease in cash and cash equivalents and restricted cash	(635,454)	(290,441)
Cash and cash equivalents and restricted cash—beginning of period	1,174,162	520,451
Cash and cash equivalents and restricted cash—end of period	$ 538,708	$ 230,010

Unaudited Consolidated Statem_4

Unaudited Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Class A	Common Class B	Accumulated Earnings	Accumulated other comprehensive income (loss)	Common Stock Common Class A	Common Stock Common Class B	Additional Paid-in Capital	Noncontrolling Interest in Summit Holdings
Beginning balance at Dec. 31, 2022	$ 2,011,990			$ 590,895	$ 3,084	$ 1,185	$ 0	$ 1,404,122	$ 12,704
Beginning balance (in shares) at Dec. 31, 2022		118,408,655				118,408,655	99
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(31,212)			(30,804)					(408)
LP Unit exchanges (in shares)						2,000
LP Unit exchanges	0							21	(21)
Other comprehensive income (loss), net of tax	164				161				3
Stock option exercises (in shares)						902
Stock option exercises	15							15
Share-based compensation	4,708							4,708
Shares redeemed to settle taxes and other (in shares)						407,114
Shares redeemed to settle taxes and other	(5,719)					$ 4		(5,680)	(43)
Ending balance at Apr. 01, 2023	1,979,946			560,091	3,245	$ 1,189	$ 0	1,403,186	12,235
Ending balance (in shares) at Apr. 01, 2023						118,818,671	99
Beginning balance at Dec. 31, 2022	2,011,990			590,895	3,084	$ 1,185	$ 0	1,404,122	12,704
Beginning balance (in shares) at Dec. 31, 2022		118,408,655				118,408,655	99
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	53,516
LP Unit exchanges (in shares)		2,000
Other comprehensive income (loss), net of tax	3,287
Stock option exercises (in shares)		4,240
Shares redeemed to settle taxes and other (in shares)		471,379
Ending balance at Jul. 01, 2023	2,073,964			643,728	6,326	$ 1,190	$ 0	1,409,364	13,356
Ending balance (in shares) at Jul. 01, 2023		118,886,274				118,886,274	99
Beginning balance at Apr. 01, 2023	1,979,946			560,091	3,245	$ 1,189	$ 0	1,403,186	12,235
Beginning balance (in shares) at Apr. 01, 2023						118,818,671	99
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	84,728			83,637					1,091
Other comprehensive income (loss), net of tax	3,123				3,081				42
Stock option exercises (in shares)						3,338
Stock option exercises	69							69
Share-based compensation	5,216							5,216
Shares redeemed to settle taxes and other (in shares)						64,265
Shares redeemed to settle taxes and other	882					$ 1		893	(12)
Ending balance at Jul. 01, 2023	2,073,964			643,728	6,326	$ 1,190	$ 0	1,409,364	13,356
Ending balance (in shares) at Jul. 01, 2023		118,886,274				118,886,274	99
Beginning balance at Dec. 30, 2023	2,316,580			876,751	7,275	$ 1,196	$ 0	1,421,813	9,545
Beginning balance (in shares) at Dec. 30, 2023		119,529,380	99			119,529,380	99
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(67,270)			(66,866)					(404)
LP Unit exchanges (in shares)						763,243
LP Unit exchanges	0					$ 8		9,534	(9,542)
Other comprehensive income (loss), net of tax	(3,585)				(3,585)
Stock option exercises (in shares)						29,216
Stock option exercises	593							593
Class B share cancellation (in shares)							(99,000)
Share-based compensation	6,720							6,720
Issuance of Class A Shares (in shares)						54,720,000
Issuance of Class A Shares	1,973,750					$ 547		1,973,203
Shares redeemed to settle taxes and other (in shares)						412,411
Shares redeemed to settle taxes and other	(8,151)					$ 4		(8,556)	401
Ending balance at Mar. 30, 2024	4,218,637			809,885	3,690	$ 1,755	$ 0	3,403,307	0
Ending balance (in shares) at Mar. 30, 2024						175,454,250	0
Beginning balance at Dec. 30, 2023	2,316,580			876,751	7,275	$ 1,196	$ 0	1,421,813	9,545
Beginning balance (in shares) at Dec. 30, 2023		119,529,380	99			119,529,380	99
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	38,805
LP Unit exchanges (in shares)		763,243
Other comprehensive income (loss), net of tax	(5,127)
Stock option exercises (in shares)		83,488
Issuance of Class A Shares (in shares)		54,720,000
Shares redeemed to settle taxes and other (in shares)		490,360
Ending balance at Jun. 29, 2024	4,332,744			915,960	2,148	$ 1,757	$ 0	3,412,879	0
Ending balance (in shares) at Jun. 29, 2024		175,586,471	0			175,586,471	0
Beginning balance at Mar. 30, 2024	4,218,637			809,885	3,690	$ 1,755	$ 0	3,403,307	0
Beginning balance (in shares) at Mar. 30, 2024						175,454,250	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	106,075			106,075
Other comprehensive income (loss), net of tax	(1,542)				(1,542)
Stock option exercises (in shares)						54,272
Stock option exercises	987					$ 1		986
Share-based compensation	7,413							7,413
Shares redeemed to settle taxes and other (in shares)						77,949
Shares redeemed to settle taxes and other	1,174					$ 1		1,173
Ending balance at Jun. 29, 2024	$ 4,332,744			$ 915,960	$ 2,148	$ 1,757	$ 0	$ 3,412,879	$ 0
Ending balance (in shares) at Jun. 29, 2024		175,586,471	0			175,586,471	0

SUMMARY OF ORGANIZATION AND SIG

SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES Summit Materials, Inc. ("Summit Inc." and together with its subsidiaries, "Summit," "we," "our" or the Company") is a vertically-integrated construction materials company. The Company is engaged in the production and sale of aggregates, cement, ready-mix concrete, asphalt paving mix and concrete products and owns and operates quarries, sand and gravel pits, six cement plants, cement distribution terminals, ready-mix concrete plants, asphalt plants and landfill sites. It is also engaged in paving and related services. The Company’s three operating and reporting segments are the West, East and Cement segments. Substantially all of the Company’s construction materials, products and services are produced, consumed and performed outdoors, primarily in the spring, summer and fall. Seasonal changes and other weather-related conditions can affect the production and sales volumes of its products and delivery of services. Therefore, the financial results for any interim period are typically not indicative of the results expected for the full year. Furthermore, the Company’s sales and earnings are sensitive to national, regional and local economic conditions, weather conditions and to cyclical changes in construction spending, among other factors. On September 23, 2014, Summit Inc. was formed as a Delaware corporation to be a holding company. As of March 30, 2024, Summit Inc. held 100% of the economic interests and voting power of Summit Materials Holdings L.P. (“Summit Holdings”). Pursuant to a reorganization into a holding company structure (the “Reorganization”) consummated in connection with Summit Inc.’s March 2015 initial public offering ("IPO"), Summit Inc. became a holding corporation operating and controlling all of the business and affairs of Summit Holdings and its subsidiaries. Summit Inc. directly and indirectly owns all of the partnership interests of Summit Holdings (see note 9, Stockholders’ Equity). Summit Materials, LLC (“Summit LLC”) an indirect wholly owned subsidiary of Summit Holdings, conducts the majority of our operations. Summit Materials Finance Corp. (“Summit Finance”), an indirect wholly owned subsidiary of Summit LLC, has jointly issued our Senior Notes as described below. On January 12, 2024, Summit completed a combination with Argos North America Corp. ("Argos USA"), Cementos Argos S.A. ("Cementos Argos"), Argos SEM LLC and Valle Cement Investments, Inc. (the "Argos Parties," and together with Argos USA, "Argos"), pursuant to which Summit acquired all of the outstanding equity interests (the "Transaction") of Argos USA from the Argos SEM LLC and Valle Cement Investments, Inc. in exchange for $1.2 billion of cash, the issuance of 54,720,000 shares of the Summit Inc.'s Class A common stock and one preferred share in a transaction valued at approximately $3.1 billion. The cash consideration was funded from the net proceeds of an $800 million offering of Senior Notes due 2031 and new term loan borrowings under our current credit facility. The purchase price is subject to customary adjustments, with any upward or downward adjustments made against the cash consideration. The Transaction Agreement, dated as of September 7, 2023, contains customary representations and warranties, covenants and agreements, including a Stockholder Agreement. For additional details related to the Transaction, see Note 2, Acquisitions, Dispositions, Goodwill and Intangibles. Basis of Presentation —These unaudited consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures typically included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and the notes thereto as of and for the year ended December 30, 2023. The Company continues to follow the accounting policies set forth in those audited consolidated financial statements. Management believes that these consolidated interim financial statements include all adjustments, normal and recurring in nature, that are necessary to present fairly the financial position of the Company as of June 29, 2024, the results of operations for the three and six months ended June 29, 2024 and July 1, 2023 and cash flows for the six months ended June 29, 2024 and July 1, 2023. Principles of Consolidation —The consolidated financial statements include the accounts of Summit Inc. and its majority owned subsidiaries. All intercompany balances and transactions have been eliminated. For a summary of the changes in Summit Inc.’s ownership of Summit Holdings, see Note 9, Stockholders’ Equity. Use of Estimates —Preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities and reported amounts of revenue and expenses. Such estimates include the valuation of accounts receivable, inventories, valuation of deferred tax assets, goodwill, intangibles and other long-lived assets, tax receivable agreement ("TRA") liability, pension and other postretirement obligations and asset retirement obligations. Estimates also include revenue earned on contracts and costs to complete contracts. Most of the Company’s paving and related services are performed under fixed unit-price contracts with state and local governmental entities. Management regularly evaluates its estimates and assumptions based on historical experience and other factors, including the current economic environment. As future events and their effects cannot be determined with precision, actual results can differ significantly from estimates made. Changes in estimates, including those resulting from continuing changes in the economic environment, are reflected in the Company’s consolidated financial statements when the change in estimate occurs. Business and Credit Concentrations— The Company’s operations are conducted primarily across 24 U.S. states and in British Columbia, Canada, with the most significant revenue generated in Texas, Florida, Missouri, Georgia, Utah, and Kansas. The Company’s accounts receivable consist primarily of amounts due from customers within these areas. Therefore, collection of these accounts is dependent on the economic conditions in the aforementioned states, as well as specific situations affecting individual customers. Credit granted within the Company’s trade areas has been granted to many customers, and management does not believe that a significant concentration of credit exists with respect to any individual customer or group of customers. No single customer accounted for more than 10% of the Company’s total revenue in the three and six months ended June 29, 2024 or July 1, 2023. Revenue Recognition— We earn revenue from the sale of products, which primarily include aggregates, cement, ready-mix concrete and asphalt, but also include concrete products and plastics components, and from the provision of services, which are primarily paving and related services, but also include landfill operations, the receipt and disposal of waste that is converted to fuel for use in our cement plants. Products: Revenue for product sales is recognized when the performance obligation is satisfied, which generally is when the product is shipped. Services: We earn revenue from the provision of services, which are primarily paving and related services, which are typically calculated using monthly progress based on a method similar to percentage of completion or a customer’s engineer review of progress. The majority of our construction service contracts are completed within one year, but may occasionally extend beyond this time frame. The majority of our construction service contracts are for work that occurs mostly during the spring, summer and fall. We generally measure progress toward completion on long-term paving and related services contracts based on the proportion of costs incurred to date relative to total estimated costs at completion. Estimating costs to be incurred for revenue recognition involves the use of various estimating techniques to project costs at completion, and in some cases includes estimates of recoveries asserted against the customer for changes in specifications or other disputes. Earnings per Share— The Company computes basic earnings per share attributable to stockholders by dividing income attributable to Summit Inc. by the weighted-average shares of Class A common stock outstanding. Diluted earnings per share reflects the potential dilution beyond shares for basic earnings per share that could occur if securities or other contracts to issue common stock were exercised, converted into common stock, or resulted in the issuance of common stock that would have shared in the Company’s earnings. In addition, as the shares of Class A common stock are issued by Summit Inc., the earnings and equity interests of noncontrolling interests are not included in basic earnings per share. Prior Year Reclassifications — We have reclassified transaction costs of $1.7 million and $2.1 million for the three and six months ended July 1, 2023, respectively, from general and administrative expenses to a separate line item included in operating income to conform to the current year presentation. We have also reclassified our deferred tax liabilities of $15.9 million as of December 30, 2023, from other non-current liabilities to a separate line item in long term liabilities.

ACQUISITIONS, DISPOSTIONS, GOOD

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES	6 Months Ended
	Jun. 29, 2024
Acquisitions, Dispositions, Goodwill and Intangible Disclosure [Abstract]
ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES	ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLES Acquisition of Argos USA On January 12, 2024, Summit completed its acquisition of all of the outstanding equity interests of Argos USA from Argos SEM LLC and Valle Cement Investments, Inc. for total consideration of approximately $3.1 billion. Summit acquired all of the outstanding equity interests of Argos USA in exchange for (i) $1.2 billion of cash (subject to customary adjustments), (ii) 54,720,000 shares of Class A Common Stock and (iii) one share of preferred stock, par value $0.01 per share, of Summit Inc. (together with the Class A Consideration, the “Stock Consideration”). The Argos USA assets include four integrated cement plants, two grinding facilities, 140 ready-mix concrete plants, eight ports and 10 inland terminals across the East and Gulf Coast regions, with a total installed cement grinding capacity of 9.6 million tons per annum and a total import capacity of 5.4 million tons of cement per annum. The results of Argos USA’s operations are included in these consolidated financial statements from the closing date of the Transaction. Argos USA revenues and net income included in the consolidated income statement for the period from January 12, 2024 to June 29, 2024 was $805.9 million and $81.8 million, respectively. The following table includes unaudited pro forma financial information that presents the consolidated results of operations for the three and six months ended June 29, 2024 and July 1, 2023 as if the Transaction had occurred on January 1, 2023. Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Total Revenues $ 1,118,262 $ 1,156,922 $ 1,967,164 $ 1,992,318 Net income attributable to Summit Inc. $ 106,075 $ 108,608 $ 39,806 $ 72,764 The unaudited pro forma information has been calculated after adjusting the results of Argos USA for the following impacts of the Transaction, among other items: • Additional depreciation, depletion, and amortization for property, plant, and equipment and intangible assets acquired. • Interest expense adjustments to reflect the payoff of Argos USA debt obligations and new debt issued by the Company to complete the Transaction. • Elimination of royalties expenses paid to the parent of Argos USA which will not be incurred post-combination. • Elimination of historical transaction expenses of Argos USA incurred to pursue an initial public offering. The Company incurred combination-related costs of $71.0 million in the six months ended June 29, 2024 and none for the six months ended July 1, 2023. These expenses are included in transaction and integration costs on consolidated income statement and are reflected in pro forma net income attributable to Summit Inc. for the six months ended July 1, 2023 in the table above. The pro forma results do not include any cost savings or associated costs to achieve such savings from operating efficiencies or synergies that may result from the combination. The unaudited pro forma financial information is provided for informational purposes only and is not necessarily indicative of the consolidated results of operations of the Company had the combination actually occurred on January 1, 2023, nor of the results of our future operations of the combined business. The pro forma results are based on the preliminary purchase price allocation and will be updated to reflect the final amounts as the allocation is finalized during the measurement period. Fair value of consideration transferred Cash consideration $ 1,145,463 Fair value of stock consideration issued 1,973,750 Total fair value of consideration transferred $ 3,119,213 Summit Inc. issued 54,720,000 shares of common stock and calculated the fair value of stock consideration using a per share price of $36.07 on January 12, 2024, the closing date of the Transaction. The fair value of preferred stock is immaterial. The preferred stock is non-transferable and has no economic rights or ordinary voting rights. The preferred stock was issued to ensure the Argos Parties’ voting interests are not involuntarily diluted and provides a short window to purchase shares of Class A Common Stock in the market, in certain limited circumstances, to prevent the Argos Parties voting interests from dropping below 25.01% of the total Summit common stock. Argos USA Preliminary Purchase Price Allocation The acquisition of all of the outstanding equity interests of Argos USA was accounted for in accordance with Accounting Standards Codification 805, Business Combinations. The identifiable assets acquired and liabilities assumed were recorded at their estimated preliminary acquisition date fair values. The excess purchase price over the fair values of identifiable assets and liabilities is recorded as goodwill. The following table summarizes the preliminary allocation of the purchase price to the fair value of assets acquired and liabilities assumed. Purchase Price $ 3,119,213 Asset acquired: Cash and cash equivalents 97,153 Accounts receivable, net 157,170 Inventories 101,481 Other current assets 10,505 Intangible assets, net 100,000 Property, plant and equipment, net 2,355,417 Operating lease right of use assets 55,756 Other assets 50,414 Liabilities assumed: Accounts payable (124,242) Accrued expenses (71,628) Current operating lease liabilities (7,545) Noncurrent operating lease liabilities (48,211) Deferred tax liabilities (225,614) Other noncurrent liabilities (203,233) Fair value of identifiable net assets acquired 2,247,423 Goodwill $ 871,790 The purchase price has been preliminarily allocated to the assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The fair value estimates of assets acquired and liabilities assumed are pending the completion of various items, including obtaining further information regarding the identification and valuation of all assets acquired and liabilities assumed. Certain of the more significant balances that are not yet finalized include the valuation of property, plant and equipment, intangible assets (including goodwill), inventories, and other working capital accounts, and related income tax considerations. Accordingly, management considers the balances above to be preliminary, and there could be adjustments to the consolidated financial statements in subsequent periods, including changes to depreciation and amortization expense related to the property, plant, and equipment and intangible assets acquired and their respective useful lives, among other adjustments. Certain measurement period adjustments were recorded in these consolidated financial statement due to the receipt of additional information and updated preliminary valuation reports. Significant adjustments during the three months ended June 29, 2024 included: i. $92 million decrease in property, plant, and equipment and a $37 million increase in other noncurrent liabilities related to updated valuations due to revised information included in preliminary valuation reports. ii. $38 million decrease in deferred tax liabilities related to the adjustments noted in (i.) above, among others. The final determination of the fair values of the assets acquired and liabilities assumed will be completed within the measurement period of up to one year from the acquisition date. The identified intangible assets acquired include Customer Relationships and Contractual Intangible Assets, with preliminary fair values of $85.0 million and $15.0 million, respectively, and expected to be amortized over a weighted average amortization period of 3 and 8 years, respectively. Goodwill Goodwill recognized includes synergies expected to be achieved from the operations of the combined company, the assembled workforce of Argos USA, and intangible assets that do not qualify for separate recognition. Expected synergies include both increased revenue opportunities and the cost savings from the planned integration of platform infrastructure, facilities, personnel, and systems. The transaction is considered a non-taxable business combination and the goodwill is not deductible for tax purposes. The allocation of goodwill to the Company’s reporting units is not complete and is subject to change during the measurement period. On a preliminary basis, all goodwill was assigned to the Cement reportable segment. Intellectual Property License Agreement In connection with the Transaction, the Company and Argos USA entered into an Intellectual Property License Agreement with the Argos Parties pursuant to which the parties will grant each other various intellectual property licenses. Certain intellectual property licenses from the Argos Parties, including the "Argos" trade name in Canada and the United States, are provided on a royalty-fee basis. The $21.4 million paid to Argos Parties, which is also the fair value of these intangible assets acquired by the Company was excluded and recorded separately from the business combination. Other Acquisitions The financial results of each acquisition have been included in the Company’s consolidated results of operations beginning on the respective closing dates of the acquisitions. The Company measures all assets acquired and liabilities assumed at their acquisition-date fair value. Goodwill acquired during a business combination has an indefinite life and is not amortized. The following table summarizes the Company’s other acquisitions by region and period: Six months ended Year ended June 29, 2024 December 30, 2023 West* 1 3 East* 1 1 Cement* — — _______________________________________________________________________ * The combination with Argos USA affected all three reporting segments. In addition to the acquisition of all of the outstanding equity interests of Argos USA, we also acquired two aggregates-based operations, one in each of our West and East segments. The purchase price allocation, primarily the valuation of property, plant and equipment, as well as considerations for contracts assumed in the acquisition, for the acquisitions completed during the six months ended June 29, 2024, as well as the acquisitions completed during 2023 that occurred after July 1, 2023, have not yet been finalized due to the recent timing of the acquisitions, status of the valuation of property, plant and equipment and finalization of related tax returns. The following table summarizes aggregated information regarding the fair values of the assets acquired and liabilities assumed as of the respective acquisition dates: Six months ended Year ended June 29, 2024 December 30, 2023 Financial assets $ 1,739 $ 12,747 Inventories 161 6,251 Property, plant and equipment 29,191 125,207 Other assets 304 1,085 Financial liabilities (3,177) (11,973) Other long-term liabilities (43) (802) Net assets acquired 28,175 132,515 Goodwill 36,782 108,590 Purchase price 64,957 241,105 Other — (1,597) Net cash paid for acquisitions $ 64,957 $ 239,508 Changes in the carrying amount of goodwill, by reportable segment, from December 30, 2023 to June 29, 2024 are summarized as follows: West East Cement Total Balance—December 30, 2023 $ 658,704 $ 361,501 $ 204,656 $ 1,224,861 Acquisitions (1) 36,414 — 871,790 908,204 Dispositions (2) — (37,938) — (37,938) Foreign currency translation adjustments (2,117) — — (2,117) Balance—June 29, 2024 $ 693,001 $ 323,563 $ 1,076,446 $ 2,093,010 _______________________________________________________________________ (1) Reflects goodwill from 2024 acquisitions and working capital adjustments from prior year acquisitions. (2) Reflects goodwill derecognition from dispositions completed during 2024. The Company’s intangible assets subject to amortization are primarily composed of operating permits, mineral lease agreements and reserve rights. Operating permits relate to permitting and zoning rights acquired outside of a business combination. The assets related to mineral lease agreements reflect the submarket royalty rates paid under agreements, primarily for extracting aggregates. The values were determined as of the respective acquisition dates by a comparison of market-royalty rates. The reserve rights relate to aggregate reserves to which the Company has certain rights of ownership, but does not own the reserves. The intangible assets are amortized on a straight-line basis over the lives of the leases or permits. The following table shows intangible assets by type and in total: June 29, 2024 December 30, 2023 Gross Accumulated Net Gross Accumulated Net Operating permits $ 38,677 $ (6,505) $ 32,172 $ 38,677 $ (5,691) $ 32,986 Mineral leases 17,375 (7,724) 9,651 17,778 (7,676) 10,102 Reserve rights 25,586 (5,432) 20,154 25,586 (5,020) 20,566 Intellectual property 21,400 (5,053) 16,347 — — — Other 104,830 (14,872) 89,958 5,012 (585) 4,427 Total intangible assets $ 207,868 $ (39,586) $ 168,282 $ 87,053 $ (18,972) $ 68,081 Amortization expense totaled $11.0 million and $20.2 million for the three and six months ended June 29, 2024, respectively, and $0.9 million and $1.8 million for the three and six months ended July 1, 2023, respectively. The estimated amortization expense for the intangible assets for each of the five years subsequent to June 29, 2024 is as follows: 2024 (six months) $ 22,463 2025 44,889 2026 34,439 2027 6,608 2028 5,805 2029 5,102 Thereafter 48,976 Total $ 168,282

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Jun. 29, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION We derive our revenue predominantly by selling construction materials, products and providing paving and related services. Construction materials consist of aggregates and cement. Products consist of related downstream products, including ready-mix concrete, asphalt paving mix and concrete products. Paving and related service revenue is generated primarily from the asphalt paving services that we provide. Revenue by product for the three and six months ended June 29, 2024 and July 1, 2023 is as follows: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Revenue by product*: Aggregates $ 187,100 $ 182,512 $ 332,611 $ 326,165 Cement 311,188 103,607 535,285 152,620 Ready-mix concrete 393,278 199,570 705,325 338,348 Asphalt 77,624 91,809 105,609 118,444 Paving and related services 81,861 89,374 122,783 116,558 Other 67,211 62,278 121,664 112,403 Total revenue $ 1,118,262 $ 729,150 $ 1,923,277 $ 1,164,538 *Revenue from liquid asphalt terminals is included in asphalt revenue. Accounts receivable, net consisted of the following as of June 29, 2024 and December 30, 2023: June 29, 2024 December 30, 2023 Trade accounts receivable $ 519,801 $ 228,697 Construction contract receivables 36,677 51,567 Retention receivables 9,534 13,541 Receivables from related parties 97 — Accounts receivable 566,109 293,805 Less: Allowance for doubtful accounts (16,016) (6,553) Accounts receivable, net $ 550,093 $ 287,252 Retention receivables are amounts earned by the Company but held by customers until paving and related service contracts and projects are near completion or fully completed. Amounts are generally billed and collected within one year.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 29, 2024
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following as of June 29, 2024 and December 30, 2023: June 29, 2024 December 30, 2023 Aggregate stockpiles $ 172,183 $ 165,272 Finished goods 95,702 43,122 Work in process 17,680 10,702 Raw materials 63,534 22,254 Total $ 349,099 $ 241,350

ACCRUED EXPENSES

ACCRUED EXPENSES	6 Months Ended
	Jun. 29, 2024
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES Accrued expenses consisted of the following as of June 29, 2024 and December 30, 2023: June 29, 2024 December 30, 2023 Interest $ 71,393 $ 27,593 Payroll and benefits 50,155 63,888 Finance lease obligations 5,051 4,020 Insurance 37,308 25,277 Current portion of accrued taxes and TRA liability 22,793 11,042 Deferred asset purchase payments 7,979 5,903 Professional fees 3,241 2,036 Other (1) 52,435 31,932 Total $ 250,355 $ 171,691 (1) Consists primarily of current portion of asset retirement obligations and miscellaneous accruals.

DEBT

DEBT	6 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following as of June 29, 2024 and December 30, 2023: June 29, 2024 December 30, 2023 Term Loan, due 2029: $1,007.5 million and $504.5 million, net of $2.3 million and $4.0 million discount at June 29, 2024 and December 30, 2023, respectively $ 1,005,202 $ 500,473 6 1 ⁄ 2 % Senior Notes, due 2027 300,000 300,000 5 1 ⁄ 4 % Senior Notes, due 2029 700,000 700,000 7 1 ⁄ 4 % Senior Notes, due 2031 800,000 800,000 Total 2,805,202 2,300,473 Current portion of long-term debt 7,575 3,822 Long-term debt $ 2,797,627 $ 2,296,651 The contractual payments of long-term debt, including current maturities, for the five years subsequent to June 29, 2024, are as follows: 2024 (six months) $ 2,525 2025 12,625 2026 10,100 2027 310,100 2028 10,100 2029 1,662,025 Thereafter 800,000 Total 2,807,475 Less: Original issue net discount (2,273) Less: Deferred financing costs (26,164) Total debt $ 2,779,038 Senior Notes — On December 14, 2023, Summit LLC and Summit Finance (together, the “Issuers”) issued $800.0 million in aggregate principal amount of 7.250% senior notes due January 15, 2031 (the “2031 Notes”). The 2031 Notes were issued at 100.0% of their par value with proceeds of $788.3 million, net of related fees and expenses. The 2031 Notes were issued under an indenture dated as of December 14, 2023 (the "2031 Notes Indenture"). The 2031 Notes Indenture contains covenants limiting, among other things, Summit LLC and its restricted subsidiaries’ ability to incur additional indebtedness or issue certain preferred shares, pay dividends, redeem stock or make other distributions, make certain investments, sell or transfer certain assets, create liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets, enter into certain transactions with affiliates, and designate subsidiaries as unrestricted subsidiaries. The 2031 Notes Indenture also contains customary events of default. The gross proceeds of the 2031 Notes were held in escrow as of December 30, 2023 as the proceeds were restricted to use for the cash consideration for the Transaction. The proceeds were released upon closing of the Transaction on January 12, 2024. Interest on the 2031 Notes is payable semi-annually on January 15 and July 15 of each year commencing on July 15, 2024. On August 11, 2020, the Issuers issued $700.0 million in aggregate principal amount of 5.250% senior notes due January 15, 2029 (the “2029 Notes”). The 2029 Notes were issued at 100.0% of their par value with proceeds of $690.4 million, net of related fees and expenses. The 2029 Notes were issued under an indenture dated August 11, 2020, the terms of which are generally consistent with the 2031 Notes Indenture. Interest on the 2029 Notes is payable semi-annually on January 15 and July 15 of each year commencing on January 15, 2021. On March 15, 2019, the Issuers issued $300.0 million in aggregate principal amount of 6.500% senior notes due March 15, 2027 (the “2027 Notes”). The 2027 Notes were issued at 100.0% of their par value with proceeds of $296.3 million, net of related fees and expenses. The 2027 Notes were issued under an indenture dated March 25, 2019, the terms of which are generally consistent with the 2031 Notes Indenture. Interest on the 2027 Notes is payable semi-annually on March 15 and September 15 of each year commencing on September 15, 2019. As of June 29, 2024 and December 30, 2023, the Issuers were in compliance with all covenants under the applicable indentures. Senior Secured Credit Facilities — On January 12, 2024, Summit LLC entered into Amendment No. 7 to the credit agreement governing the Senior Secured Credit Facilities (the “Credit Agreement”), which among other things: (1) established new term loans in an aggregate principal amount of $1.010 billion (the "Term Loan Facility") bearing interest, at Summit LLC’s option, based on either the base rate or Term SOFR rate and an applicable margin of (i) 1.50% per annum with respect to base rate borrowings and a floor of 1.00% per annum or (ii) 2.50% per annum with respect to Term SOFR borrowings and a floor of zero, resulting in a current interest rate as of June 29, 2024 of 7.80%. Amendment No. 7 also extended the maturity date for the Term Loan Facility to January 12, 2029. In addition, the new term loan is subject to a 1.00% prepayment premium in respect of any principal amount repaid in connection with certain repricing transactions occurring within six months following the Amendment No. 7 Effective Date and requires quarterly amortization payments of 0.25% of the principal amount of the Term Loan Facility on the Amendment No. 7 effective date and due on the last business day or each March, June, September and December, commencing with the June 2024 payment. The proceeds of the new term loans were used to (i) fund a portion of the cash consideration in connection with the closing of the Transaction, (ii) refinance the $504.5 million prior term loans outstanding, resulting in charges of $5.5 million which were recognized for the six months ended June 29, 2024, which included charges of $4.0 million for the write-off of original issue discount and $1.5 million for the write-off of deferred financing fees and (iii) pay fees, commissions and expenses in connection with the foregoing. In July 2024, Summit LLC entered into Amendment No. 8 which reduced the applicable margin on Term SOFR borrowings from 2.50% to 1.75% per annum; (2) in respect of the revolving credit facility thereunder (the “Revolving Credit Facility”), (a) increased the total aggregate commitments under the Revolving Credit Facility from $395.0 million to $625.0 million and (b) reduced the applicable margin (with no leverage-based step downs) to (i) 1.50% per annum with respect to base rate borrowings and a floor of 1.00% per annum or (ii) 2.50% per annum with respect to Term SOFR borrowings and a floor of zero; and (3) modified certain covenants to provide greater flexibility for Summit LLC under the Credit Agreement. The revolving credit facility matures on January 10, 2028, provided that if more than $125 million of the 2027 Notes are outstanding as of December 14, 2026, then the maturity date of the revolving credit facility will be December 14, 2026. There were no outstanding borrowings under the revolving credit facility as of June 29, 2024 and December 30, 2023, with borrowing capacity of $592.7 million remaining as of June 29, 2024, which is net of $32.3 million of outstanding letters of credit. The outstanding letters of credit are renewed annually and support required bonding on construction projects, large leases, workers compensation claims and the Company’s insurance liabilities. In connection with the combination with Argos USA described above, Summit LLC assumed a letter of credit related to Argos USA's workers compensation claims and insurance liabilities equal to $11.4 million. Summit LLC’s Consolidated First Lien Net Leverage Ratio, as such term is defined in the Credit Agreement, should be no greater than 4.75:1.0 as of each quarter-end. As of June 29, 2024 and December 30, 2023, Summit LLC was in compliance with all financial covenants. Summit LLC’s wholly-owned domestic subsidiary companies, subject to certain exclusions and exceptions, are named as subsidiary guarantors of the Senior Notes and the Senior Secured Credit Facilities. In addition, Summit LLC has pledged substantially all of its assets as collateral, subject to certain exclusions and exceptions including a real property exception, for the Senior Secured Credit Facilities. In September 2023, in connection with our agreement to acquire all of the outstanding equity interests of Argos USA, we obtained a $1.3 billion 364-day term loan bridge facility commitment from various financial institutions. The term loan bridge facility expired unused upon the closing of the Transaction in January 2024. The following table presents the activity for the deferred financing fees for the six months ended June 29, 2024 and July 1, 2023: Deferred financing fees Balance—December 30, 2023 $ 14,463 Loan origination fees 17,732 Amortization (2,997) Write off of deferred financing fees (1,462) Balance—June 29, 2024 $ 27,736 Balance—December 31, 2022 $ 11,489 Loan origination fees 1,566 Amortization (1,227) Write off of deferred financing fees (160) Balance—July 1, 2023 $ 11,668 Other —On January 15, 2015, the Company’s wholly-owned subsidiary in British Columbia, Canada entered into an agreement with a major Canadian Bank, which was amended on November 30, 2020, for a (i) $6.0 million Canadian dollar (“CAD”) revolving credit commitment to be used for operating activities that bears interest per annum equal to the bank’s prime rate plus 0.20%, (ii) $0.5 million CAD revolving credit commitment to be used for capital equipment that bears interest per annum at the bank’s prime rate plus 0.20% and (iii) $1.5 million CAD revolving credit commitment to provide guarantees on behalf of that subsidiary and (iv) $10.0 million CAD revolving foreign exchange facility available to purchase foreign exchange forward contracts. There were no amounts outstanding under this agreement as of June 29, 2024 or December 30, 2023, which may be terminated upon demand.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 29, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Summit Inc.’s tax provision includes its proportional share of Summit Holdings’ tax attributes. Summit Holdings’ subsidiaries are primarily limited liability companies but do include certain entities organized as C corporations and a Canadian subsidiary. The tax attributes related to the limited liability companies are passed on to Summit Holdings and then to its partners, including Summit Inc. The tax attributes associated with the C corporation and Canadian subsidiaries are fully reflected in the Company’s accounts. Our income tax expense was $25.8 million and $14.8 million in the three and six months ended June 29, 2024, respectively, and our income tax expense was $22.5 million and $16.0 million in the three and six months ended July 1, 2023, respectively. The effective tax rate for Summit Inc. differs from the federal statutory tax rate primarily due to (1) basis differences in assets divested, (2) tax depletion expense in excess of the expense recorded under U.S. GAAP, (3) state taxes, (4) various other items such as limitations on meals and entertainment, certain stock compensation, non-deductible compensation paid to covered employees, and other costs. As of each of June 29, 2024 and December 30, 2023, Summit Inc. had a valuation allowance of $1.1 million, which relates to certain deferred tax assets in taxable entities where realization is not more likely than not. No material interest or penalties were recognized in income tax expense during the three and six months ended June 29, 2024 and July 1, 2023. Tax Receivable Agreement —The Company is party to a TRA with certain former holders of Class A limited partnership units of Summit Holdings ("LP Units") that provides for the payment by Summit Inc. to exchanging holders of LP Units of 85% of the benefits, if any, that Summit Inc. actually realizes (or, under certain circumstances such as an early termination of the TRA, is deemed to realize) as a result of increases in the tax basis of tangible and intangible assets of Summit Holdings and certain other tax benefits related to entering into the TRA, including tax benefits attributable to payments under the TRA.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is computed by dividing net earnings by the weighted average common shares outstanding and diluted net earnings is computed by dividing net earnings, adjusted for changes in the earnings allocated to Summit Inc. as a result of the assumed conversion of LP Units, by the weighted-average common shares outstanding assuming dilution. The following table shows the calculation of basic and diluted earnings per share: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net income attributable to Summit Inc. $ 106,075 $ 83,637 $ 39,209 $ 52,833 Weighted average shares of Class A stock outstanding 175,510,071 118,848,214 171,478,056 118,706,385 Add: Nonvested restricted stock awards of retirement eligible shares 40,416 83,700 52,975 99,400 Weighted average shares outstanding 175,550,487 118,931,914 171,531,031 118,805,785 Basic earnings per share $ 0.60 $ 0.70 $ 0.23 $ 0.44 Diluted net income attributable to Summit Inc. $ 106,075 $ 83,637 $ 39,209 $ 52,833 Weighted average shares outstanding 175,550,487 118,931,914 171,531,031 118,805,785 Add: stock options 104,706 100,895 116,734 99,102 Add: warrants 17,061 13,194 17,116 12,978 Add: restricted stock units 263,418 193,011 408,314 340,958 Add: performance stock units 196,329 154,695 234,849 172,781 Weighted average dilutive shares outstanding 176,132,001 119,393,709 172,308,044 119,431,604 Diluted earnings per share $ 0.60 $ 0.70 $ 0.23 $ 0.44 Excluded from the above calculations were the shares noted below as they were antidilutive: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Antidilutive shares: LP Units — 1,310,004 255,783 1,310,630

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Jun. 29, 2024
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY In March 2022, our Board of Directors authorized a share repurchase program, whereby we can repurchase up to $250 million of our Class A common stock. As of June 29, 2024, there was $149.0 million available for purchase, upon which they will be retired. The following table summarizes the changes in our ownership of Summit Holdings: Summit Inc. LP Units Total Summit Inc. Balance — December 30, 2023 119,529,380 763,243 120,292,623 99.4 % Exchanges during period 763,243 (763,243) — Stock option exercises 83,488 — 83,488 Issuance of Class A common stock 54,720,000 — 54,720,000 Other equity transactions 490,360 — 490,360 Balance — June 29, 2024 175,586,471 — 175,586,471 100.0 % Balance — December 31, 2022 118,408,655 1,312,004 119,720,659 98.9 % Exchanges during period 2,000 (2,000) — Stock option exercises 4,240 — 4,240 Other equity transactions 471,379 — 471,379 Balance — July 1, 2023 118,886,274 1,310,004 120,196,278 98.9 % Summit Inc. is Summit Holdings’ primary beneficiary and thus consolidates Summit Holdings in its consolidated financial statements with a corresponding noncontrolling interest reclassification, which was 0.0% and 0.6% as of June 29, 2024 and December 30, 2023, respectively. Accumulated other comprehensive income (loss) —The changes in each component of accumulated other comprehensive income (loss) consisted of the following: Change in Foreign currency Accumulated Balance — December 30, 2023 $ 6,840 $ 435 $ 7,275 Foreign currency translation adjustment, net of tax — (5,127) (5,127) Balance — June 29, 2024 $ 6,840 $ (4,692) $ 2,148 Balance — December 31, 2022 $ 6,356 $ (3,272) $ 3,084 Foreign currency translation adjustment, net of tax — 3,242 3,242 Balance — July 1, 2023 $ 6,356 $ (30) $ 6,326

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 29, 2024
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information is as follows: Six months ended June 29, 2024 July 1, 2023 Cash payments: Interest $ 53,234 $ 38,107 Payments for income taxes, net 11,390 6,941 Operating cash payments on operating leases 11,496 4,801 Operating cash payments on finance leases 1,469 282 Finance cash payments on finance leases 2,777 5,223 Non cash investing and financing activities: Accrued liabilities for purchases of property, plant and equipment $ 44,303 $ 14,994 Right of use assets obtained in exchange for operating lease obligations 68,151 2,050 Right of use assets obtained in exchange for finance leases obligations 28,764 413 Exchange of LP Units to shares of Class A common stock 32,633 60 Issuance of Class A common stock 1,973,750 — On January 12, 2024, Summit completed a combination with Argos USA, Cementos Argos, Argos SEM LLC and Valle Cement Investments, Inc., pursuant to which Summit acquired all of the outstanding equity interests of Argos USA from the Argos SEM LLC and Valle Cement Investments, Inc.. Non-cash transactions related to the combination includes issuance of 54,720,000 shares of Summit Inc.'s Class A common stock and 1 preferred share.

LEASES

LEASES	6 Months Ended
	Jun. 29, 2024
Leases [Abstract]
LEASES	LEASES We lease construction and office equipment, distribution facilities and office space. Leases with an initial term of 12 months or less, including month to month leases, are not recorded on the balance sheet. Lease expense for short-term leases is recognized on a straight line basis over the lease term. For lease agreements we have entered into or reassessed, we combine lease and nonlease components. While we also own mineral leases for mining operations, those leases are outside the scope of Accounting Standards Update No. 2016-2, Leases (Topic 842). Assets acquired under finance leases are included in property, plant and equipment. Many of our leases include options to purchase the leased equipment. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease expense were as follows: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Operating lease cost $ 6,245 $ 2,697 $ 12,274 $ 5,338 Variable lease cost 2,135 34 3,800 64 Short-term lease cost 11,352 10,184 20,674 17,454 Financing lease cost: Amortization of right-of-use assets 1,466 714 2,925 1,532 Interest on lease liabilities 776 133 1,421 281 Total lease cost $ 21,974 $ 13,762 $ 41,094 $ 24,669 June 29, 2024 December 30, 2023 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 89,360 $ 36,553 Current operating lease liabilities $ 17,217 $ 8,596 Noncurrent operating lease liabilities 77,326 33,230 Total operating lease liabilities $ 94,543 $ 41,826 Finance leases: Property and equipment, gross $ 56,022 $ 30,136 Less accumulated depreciation (13,206) (12,088) Property and equipment, net $ 42,816 $ 18,048 Current finance lease liabilities $ 5,051 $ 4,020 Long-term finance lease liabilities 33,085 14,357 Total finance lease liabilities $ 38,136 $ 18,377 Weighted average remaining lease term (years): Operating leases 7.2 8.4 Finance lease 10.1 6.0 Weighted average discount rate: Operating leases 7.3 % 5.1 % Finance leases 8.2 % 7.7 % Maturities of lease liabilities, as of June 29, 2024, were as follows: Operating Leases Finance Leases 2024 (six months) $ 11,304 $ 4,252 2025 21,854 6,900 2026 18,501 5,585 2027 15,148 5,402 2028 12,093 5,818 2029 10,536 4,477 Thereafter 31,745 24,743 Total lease payments 121,181 57,177 Less imputed interest (26,638) (19,041) Present value of lease payments $ 94,543 $ 38,136
LEASES	LEASES We lease construction and office equipment, distribution facilities and office space. Leases with an initial term of 12 months or less, including month to month leases, are not recorded on the balance sheet. Lease expense for short-term leases is recognized on a straight line basis over the lease term. For lease agreements we have entered into or reassessed, we combine lease and nonlease components. While we also own mineral leases for mining operations, those leases are outside the scope of Accounting Standards Update No. 2016-2, Leases (Topic 842). Assets acquired under finance leases are included in property, plant and equipment. Many of our leases include options to purchase the leased equipment. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease expense were as follows: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Operating lease cost $ 6,245 $ 2,697 $ 12,274 $ 5,338 Variable lease cost 2,135 34 3,800 64 Short-term lease cost 11,352 10,184 20,674 17,454 Financing lease cost: Amortization of right-of-use assets 1,466 714 2,925 1,532 Interest on lease liabilities 776 133 1,421 281 Total lease cost $ 21,974 $ 13,762 $ 41,094 $ 24,669 June 29, 2024 December 30, 2023 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 89,360 $ 36,553 Current operating lease liabilities $ 17,217 $ 8,596 Noncurrent operating lease liabilities 77,326 33,230 Total operating lease liabilities $ 94,543 $ 41,826 Finance leases: Property and equipment, gross $ 56,022 $ 30,136 Less accumulated depreciation (13,206) (12,088) Property and equipment, net $ 42,816 $ 18,048 Current finance lease liabilities $ 5,051 $ 4,020 Long-term finance lease liabilities 33,085 14,357 Total finance lease liabilities $ 38,136 $ 18,377 Weighted average remaining lease term (years): Operating leases 7.2 8.4 Finance lease 10.1 6.0 Weighted average discount rate: Operating leases 7.3 % 5.1 % Finance leases 8.2 % 7.7 % Maturities of lease liabilities, as of June 29, 2024, were as follows: Operating Leases Finance Leases 2024 (six months) $ 11,304 $ 4,252 2025 21,854 6,900 2026 18,501 5,585 2027 15,148 5,402 2028 12,093 5,818 2029 10,536 4,477 Thereafter 31,745 24,743 Total lease payments 121,181 57,177 Less imputed interest (26,638) (19,041) Present value of lease payments $ 94,543 $ 38,136

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is party to certain legal actions arising from its ordinary course of business activities. In the opinion of management, these actions will not have a material effect on the Company’s financial position, results of operations or liquidity. The Company’s policy is to record legal accruals when the outcome is probable and can be reasonably estimated and to record legal fees as incurred. In March 2018, we were notified of an investigation by the Canadian Competition Bureau (the “CCB”) into pricing practices by certain asphalt paving contractors in British Columbia, including Winvan Paving, Ltd. (“Winvan”). We believe the investigation is focused on time periods prior to our April 2017 acquisition of Winvan and we are cooperating with the CCB. Although we currently do not believe this matter will have a material adverse effect on our business, financial condition or results of operations, we are currently not able to predict the ultimate outcome or cost of the investigation. On January 4, 2021, prior to the closing of the Transaction, Argos USA entered into a Deferred Prosecution Agreement (“DPA”) with the U.S. Department of Justice (“DOJ”) related to the sale of ready-mix concrete in the greater Savannah, Georgia area by a small number of employees who joined the Company in October 2011 and were subsequently terminated. Pursuant to the DPA, Argos USA paid a monetary penalty of $20.0 million and was required, among other things, to periodically review and update its antitrust compliance program. The three-year term of the DPA expired on January 4, 2024. As Argos USA fully complied with the terms of the DPA, on January 18, 2024, following the conclusion of the DPA’s three-year term, the United States District Court for the Southern District of Georgia dismissed the criminal charge that was filed against the company in January 2021. Argos USA’s failure to comply with the terms and conditions of the DPA could result in additional criminal prosecution or penalties as well as continued expenses in defending these proceedings. In addition, Argos USA has been named a defendant in a putative class action filed under the caption Pro Slab, Inc. et al. v. Argos USA LLC et al. on behalf of purchasers of ready-mix concrete on November 22, 2017 in the U.S. District Court for the District of South Carolina and includes allegations of price-fixing, market allocation and other anti-competitive practices in the Savannah, Georgia and Charleston, South Carolina markets, seeking monetary damages and other remedies. This case was stayed on February 9, 2022 pending the resolution of the same criminal indictments, and only limited, written discovery may proceed while this stay is in effect. On June 13, 2023, prior to the closing of the Transaction, Argos USA entered into a settlement and compliance agreement with the Federal Highway Administration of the U.S. Department of Transportation that requires, among other things, appointment of an independent monitor until June 2025 to monitor, among other things, bids or awards of publicly funded contracts in Georgia and South Carolina for our ready-mix and cement business, as well as our code of business conduct, antitrust compliance policy, and antitrust compliance program. Environmental Remediation and Site Restoration —The Company’s operations are subject to and affected by federal, state, provincial and local laws and regulations relating to the environment, health and safety and other regulatory matters. These operations require environmental operating permits, which are subject to modification, renewal and revocation. The Company regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Company’s business, as it is with other companies engaged in similar businesses and there can be no assurance that environmental liabilities or noncompliance will not have a material adverse effect on the Company’s consolidated financial condition, results of operations or liquidity. The Company has asset retirement obligations arising from regulatory and contractual requirements to perform reclamation activities at the time certain quarries and landfills are closed. As of June 29, 2024 and December 30, 2023, $44.1 million and $44.8 million, respectively, were included in other noncurrent liabilities on the consolidated balance sheets and $6.5 million and $5.1 million, respectively, were included in accrued expenses for future reclamation costs. The total undiscounted anticipated costs for site reclamation as of June 29, 2024 and December 30, 2023 were $171.4 million and $141.8 million, respectively. Payment In Lieu Of Taxes (“PILOT”) Agreemen t — In connection with the Transaction, Summit assumed a PILOT agreement related to the Martinsburg, West Virginia cement plant entered into by Argos USA pursuant to an acquisition that occurred in 2016. This agreement, which includes a continuing employment base requirement and other requirements, is in effect through fiscal year 2034. Under this agreement, certain property was conveyed to the West Virginia Economic Development Authority in exchange for certain local tax incentives. The $460.0 million receivable from the municipality related to the conveyance of the property, and the $460.0 million liability associated with the financing, have been offset in the consolidated balance sheets as the opening balance sheet. The annual payment related to the financing, and receipts related to the conveyance of the property for year-ended December 30, 2023 approximated $27.1 million. Other —The Company is obligated under various firm purchase commitments for certain raw materials and services that are in the ordinary course of business. Management does not expect any significant changes in the market value of these goods and services during the commitment period that would have a material adverse effect on the financial condition, results of operations and cash flows of the Company. The terms of the purchase commitments generally approximate one year.

FAIR VALUE

FAIR VALUE	6 Months Ended
	Jun. 29, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Fair Value Measurements— Certain acquisitions made by the Company require the payment of contingent amounts of purchase consideration. These payments are contingent on specified operating results being achieved in periods subsequent to the acquisition and will only be made if earn-out thresholds are achieved. Contingent consideration obligations are measured at fair value each reporting period. Any adjustments to fair value are recognized in earnings in the period identified. The fair value of contingent consideration as of June 29, 2024 and December 30, 2023 was: June 29, 2024 December 30, 2023 Current portion of acquisition-related liabilities and Accrued expenses: Contingent consideration $ 1,701 $ 139 Acquisition-related liabilities and Other noncurrent liabilities: Contingent consideration $ 7,971 $ 9,254 The fair value of contingent consideration was based on unobservable, or Level 3, inputs, including projected probability-weighted cash payments and a 10.0% discount rate, which reflects a market discount rate. Changes in fair value may occur as a result of a change in actual or projected cash payments, the probability weightings applied by the Company to projected payments or a change in the discount rate. Significant increases or decreases in any of these inputs in isolation could result in a lower, or higher, fair value measurement. There were no material valuation adjustments to contingent consideration as of June 29, 2024 and July 1, 2023. Financial Instruments —The Company’s financial instruments include debt and certain acquisition-related liabilities (deferred consideration and noncompete obligations). The carrying value and fair value of these financial instruments as of June 29, 2024 and December 30, 2023 was: June 29, 2024 December 30, 2023 Fair Value Carrying Value Fair Value Carrying Value Level 1 Long-term debt(1) $ 2,814,031 $ 2,805,202 $ 2,329,606 $ 2,300,473 Level 3 Current portion of deferred consideration and noncompete obligations(2) 7,286 7,286 6,868 6,868 Long term portion of deferred consideration and noncompete obligations(3) 13,246 13,246 18,767 18,767 (1) $7.6 million and $3.8 million was included in current portion of debt as of June 29, 2024 and December 30, 2023, respectively. (2) Included in current portion of acquisition-related liabilities on the consolidated balance sheets. (3) Included in acquisition-related liabilities on the consolidated balance sheets. The fair value of debt was determined based on observable, or Level 1, inputs, such as interest rates, bond yields and quoted prices in inactive markets. The fair values of the deferred consideration and noncompete obligations were determined based on unobservable, or Level 3, inputs, including the cash payment terms in the purchase agreements and a discount rate reflecting the Company’s credit risk. The discount rate used is generally consistent with that used when the obligations were initially recorded. Securities with a maturity of three months or less are considered cash equivalents and the fair value of these assets approximates their carrying value.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company has three operating segments: West, East and Cement, which are its reporting segments. These segments are consistent with the Company’s management reporting structure. The operating results of each segment are regularly reviewed and evaluated by the Chief Executive Officer, our Company’s Chief Operating Decision Maker (“CODM”). The CODM primarily evaluates the performance of the Company’s segments and allocates resources to them based on a segment profit metric that we call Adjusted EBITDA ("EBITDA" refers to net income (loss) before interest expense (income), income tax expense (benefit) and depreciation, depletion and amortization), which is computed as earnings from operations before interest, taxes, depreciation, depletion, amortization, accretion and share-based compensation, as well as various other non-recurring, non-cash amounts. The West and East segments have several subsidiaries that are engaged in various activities including quarry mining, aggregate production and contracting. The Cement segment is engaged in the production of Portland cement. Assets employed by each segment include assets directly identified with those operations. Corporate assets consist primarily of cash, property, plant and equipment for corporate operations and other assets not directly identifiable with a reportable business segment. The accounting policies applicable to each segment are consistent with those used in the consolidated financial statements. The following tables display selected financial data for the Company’s reportable business segments as of June 29, 2024 and December 30, 2023 and for the three and six months ended June 29, 2024 and July 1, 2023: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Revenue*: West $ 453,382 $ 430,738 $ 757,920 $ 681,620 East 340,059 186,537 608,753 316,926 Cement 324,821 111,875 556,604 165,992 Total revenue $ 1,118,262 $ 729,150 $ 1,923,277 $ 1,164,538 *Intercompany sales totaled $53.5 million and $94.0 million for the three and six months ended June 29, 2024, respectively, and $1.6 million and $2.4 million for the three and six months ended July 1, 2023, respectively. The presentation above only reflects sales to external customers. Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Income from operations before taxes $ 131,891 $ 107,209 $ 53,556 $ 69,531 Interest expense 52,849 27,902 104,741 55,322 Depreciation, depletion and amortization 103,379 54,042 198,342 104,230 Accretion 1,018 745 2,026 1,451 Loss on debt financings — — 5,453 493 Gain on sale of businesses (3,758) — (18,743) — Non-cash compensation 7,413 5,216 14,133 9,924 Argos USA acquisition and integration costs 9,737 — 71,031 — Other (6,363) (3,369) (13,148) (8,005) Total Adjusted EBITDA $ 296,166 $ 191,745 $ 417,391 $ 232,946 Total Adjusted EBITDA by Segment: West $ 101,585 $ 104,517 $ 144,985 $ 137,195 East 70,554 47,617 108,030 66,469 Cement 140,769 52,872 200,223 52,882 Corporate and other (16,742) (13,261) (35,847) (23,600) Total Adjusted EBITDA $ 296,166 $ 191,745 $ 417,391 $ 232,946 Six months ended June 29, 2024 July 1, 2023 Purchases of property, plant and equipment West $ 75,744 $ 70,687 East 46,570 30,378 Cement 45,813 19,477 Total reportable segments 168,127 120,542 Corporate and other 7,833 6,351 Total purchases of property, plant and equipment $ 175,960 $ 126,893 Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Depreciation, depletion, amortization and accretion: West $ 30,270 $ 28,144 $ 60,608 $ 54,517 East 23,369 15,718 46,450 31,253 Cement 48,268 9,891 88,973 17,889 Total reportable segments 101,907 53,753 196,031 103,659 Corporate and other 2,490 1,034 4,337 2,022 Total depreciation, depletion, amortization and accretion $ 104,397 $ 54,787 $ 200,368 $ 105,681 June 29, 2024 December 30, 2023 Total assets: West $ 2,037,224 $ 1,837,214 East 1,618,636 1,171,944 Cement 4,090,823 904,508 Total reportable segments 7,746,683 3,913,666 Corporate and other 567,309 1,235,916 Total $ 8,313,992 $ 5,149,582

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 29, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS As part of the combination with Argos USA, we entered into several agreements with affiliates of Cementos Argos as follows: We entered into agreements whereby Cementos Argos or an affiliate of Cementos Argos provides various administrative and technical services. The technical service agreement can be terminated with six months advance notice, while the support services agreement expires January 2026. During the three and six months ended June 29, 2024, we paid $1.4 million and $1.7 million, respectively, under these agreements and is included in general and administrative costs in our statement of operations. We also entered into a cement supply agreement with Cementos Argos with an initial term expiring December 31, 2028. Under this agreement, we will purchase a minimum volume of 425,000 metric tons of cement from an affiliate of Cementos Argos. The purchase price of the cement will be at market prices based on third party quotes. During the three and six months ended June 29, 2024, we purchased $5.3 million and $14.4 million, respectively, of cement under the cement supply agreement. Cement purchases are capitalized into inventory on the consolidated balance sheet. We also entered into various agreements whereby an affiliate of Cementos Argos will provide logistics support for importing cement to our terminals. During the three and six months ended June 29, 2024, we paid the affiliate $2.8 million and $4.5 million, respectively, under the logistics supply agreement, and these costs are capitalized into inventory on our consolidated balance sheet. We entered into a master purchase agreement where-by we will utilize the services of an affiliate of Cementos Argos to negotiate and coordinate a supply agreement with the international suppliers for the purchase of cement and other materials. This agreement expires on December 31, 2025. During the three and six months ended June 29, 2024, we paid $0.2 million and $0.3 million, respectively, under the master purchase agreement, and these costs are capitalized into inventory on our consolidated balance sheet.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 106,075	$ 83,637	$ 39,209	$ 52,833

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF ORGANIZATION AND S_2

SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation —These unaudited consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures typically included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and the notes thereto as of and for the year ended December 30, 2023. The Company continues to follow the accounting policies set forth in those audited consolidated financial statements. Management believes that these consolidated interim financial statements include all adjustments, normal and recurring in nature, that are necessary to present fairly the financial position of the Company as of June 29, 2024, the results of operations for the three and six months ended June 29, 2024 and July 1, 2023 and cash flows for the six months ended June 29, 2024 and July 1, 2023.
Principles of Consolidation	Principles of Consolidation —The consolidated financial statements include the accounts of Summit Inc. and its majority owned subsidiaries. All intercompany balances and transactions have been eliminated. For a summary of the changes in Summit Inc.’s ownership of Summit Holdings, see Note 9, Stockholders’ Equity.
Use of Estimates	Use of Estimates —Preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities and reported amounts of revenue and expenses. Such estimates include the valuation of accounts receivable, inventories, valuation of deferred tax assets, goodwill, intangibles and other long-lived assets, tax receivable agreement ("TRA") liability, pension and other postretirement obligations and asset retirement obligations. Estimates also include revenue earned on contracts and costs to complete contracts. Most of the Company’s paving and related services are performed under fixed unit-price contracts with state and local governmental entities. Management regularly evaluates its estimates and assumptions based on historical experience and other factors, including the current economic environment. As future events and their effects cannot be determined with precision, actual results can differ significantly from estimates made. Changes in estimates, including those resulting from continuing changes in the economic environment, are reflected in the Company’s consolidated financial statements when the change in estimate occurs.
Business and Credit Concentrations	Business and Credit Concentrations—
Revenue Recognition	Revenue Recognition— We earn revenue from the sale of products, which primarily include aggregates, cement, ready-mix concrete and asphalt, but also include concrete products and plastics components, and from the provision of services, which are primarily paving and related services, but also include landfill operations, the receipt and disposal of waste that is converted to fuel for use in our cement plants. Products: Revenue for product sales is recognized when the performance obligation is satisfied, which generally is when the product is shipped. Services: We earn revenue from the provision of services, which are primarily paving and related services, which are typically calculated using monthly progress based on a method similar to percentage of completion or a customer’s engineer review of progress. The majority of our construction service contracts are completed within one year, but may occasionally extend beyond this time frame. The majority of our construction service contracts are for work that occurs mostly during the spring, summer and fall. We generally measure progress toward completion on long-term paving and related services contracts based on the proportion of costs incurred to date relative to total estimated costs at completion. Estimating costs to be incurred for revenue recognition involves the use of various estimating techniques to project costs at completion, and in some cases includes estimates of recoveries asserted against the customer for changes in specifications or other disputes.
Earnings per Share	Earnings per Share— The Company computes basic earnings per share attributable to stockholders by dividing income attributable to Summit Inc. by the weighted-average shares of Class A common stock outstanding. Diluted earnings per share reflects the potential dilution beyond shares for basic earnings per share that could occur if securities or other contracts to issue common stock were exercised, converted into common stock, or resulted in the issuance of common stock that would have shared in the Company’s earnings. In addition, as the shares of Class A common stock are issued by Summit Inc., the earnings and equity interests of noncontrolling interests are not included in basic earnings per share.
Leases	We lease construction and office equipment, distribution facilities and office space. Leases with an initial term of 12 months or less, including month to month leases, are not recorded on the balance sheet. Lease expense for short-term leases is recognized on a straight line basis over the lease term. For lease agreements we have entered into or reassessed, we combine lease and nonlease components. While we also own mineral leases for mining operations, those leases are outside the scope of Accounting Standards Update No. 2016-2, Leases (Topic 842). Assets acquired under finance leases are included in property, plant and equipment.

ACQUISITIONS, DISPOSTIONS, GO_2

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES (Tables)	6 Months Ended
	Jun. 29, 2024
Acquisitions, Dispositions, Goodwill and Intangible Disclosure [Abstract]
Schedule of Business Acquisition, Pro Forma Information	The following table includes unaudited pro forma financial information that presents the consolidated results of operations for the three and six months ended June 29, 2024 and July 1, 2023 as if the Transaction had occurred on January 1, 2023. Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Total Revenues $ 1,118,262 $ 1,156,922 $ 1,967,164 $ 1,992,318 Net income attributable to Summit Inc. $ 106,075 $ 108,608 $ 39,806 $ 72,764 The unaudited pro forma financial information is provided for informational purposes only and is not necessarily indicative of the consolidated results of operations of the Company had the combination actually occurred on January 1, 2023, nor of the results of our future operations of the combined business. The pro forma results are based on the preliminary purchase price allocation and will be updated to reflect the final amounts as the allocation is finalized during the measurement period. Fair value of consideration transferred Cash consideration $ 1,145,463 Fair value of stock consideration issued 1,973,750 Total fair value of consideration transferred $ 3,119,213
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary allocation of the purchase price to the fair value of assets acquired and liabilities assumed. Purchase Price $ 3,119,213 Asset acquired: Cash and cash equivalents 97,153 Accounts receivable, net 157,170 Inventories 101,481 Other current assets 10,505 Intangible assets, net 100,000 Property, plant and equipment, net 2,355,417 Operating lease right of use assets 55,756 Other assets 50,414 Liabilities assumed: Accounts payable (124,242) Accrued expenses (71,628) Current operating lease liabilities (7,545) Noncurrent operating lease liabilities (48,211) Deferred tax liabilities (225,614) Other noncurrent liabilities (203,233) Fair value of identifiable net assets acquired 2,247,423 Goodwill $ 871,790 Six months ended Year ended June 29, 2024 December 30, 2023 Financial assets $ 1,739 $ 12,747 Inventories 161 6,251 Property, plant and equipment 29,191 125,207 Other assets 304 1,085 Financial liabilities (3,177) (11,973) Other long-term liabilities (43) (802) Net assets acquired 28,175 132,515 Goodwill 36,782 108,590 Purchase price 64,957 241,105 Other — (1,597) Net cash paid for acquisitions $ 64,957 $ 239,508
Schedule Of Acquisitions By Region	The following table summarizes the Company’s other acquisitions by region and period: Six months ended Year ended June 29, 2024 December 30, 2023 West* 1 3 East* 1 1 Cement* — — _______________________________________________________________________ * The combination with Argos USA affected all three reporting segments. In addition to the acquisition of all of the outstanding equity interests of Argos USA, we also acquired two aggregates-based operations, one in each of our West and East segments.
Schedule of Goodwill by Reportable Segment and in Total	Changes in the carrying amount of goodwill, by reportable segment, from December 30, 2023 to June 29, 2024 are summarized as follows: West East Cement Total Balance—December 30, 2023 $ 658,704 $ 361,501 $ 204,656 $ 1,224,861 Acquisitions (1) 36,414 — 871,790 908,204 Dispositions (2) — (37,938) — (37,938) Foreign currency translation adjustments (2,117) — — (2,117) Balance—June 29, 2024 $ 693,001 $ 323,563 $ 1,076,446 $ 2,093,010 _______________________________________________________________________ (1) Reflects goodwill from 2024 acquisitions and working capital adjustments from prior year acquisitions. (2) Reflects goodwill derecognition from dispositions completed during 2024.
Schedule of Intangible Assets by Type and in Total	The following table shows intangible assets by type and in total: June 29, 2024 December 30, 2023 Gross Accumulated Net Gross Accumulated Net Operating permits $ 38,677 $ (6,505) $ 32,172 $ 38,677 $ (5,691) $ 32,986 Mineral leases 17,375 (7,724) 9,651 17,778 (7,676) 10,102 Reserve rights 25,586 (5,432) 20,154 25,586 (5,020) 20,566 Intellectual property 21,400 (5,053) 16,347 — — — Other 104,830 (14,872) 89,958 5,012 (585) 4,427 Total intangible assets $ 207,868 $ (39,586) $ 168,282 $ 87,053 $ (18,972) $ 68,081
Schedule of Estimated Amortization Expense for Intangible Assets	The estimated amortization expense for the intangible assets for each of the five years subsequent to June 29, 2024 is as follows: 2024 (six months) $ 22,463 2025 44,889 2026 34,439 2027 6,608 2028 5,805 2029 5,102 Thereafter 48,976 Total $ 168,282

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
	Jun. 29, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Revenue by Product	Revenue by product for the three and six months ended June 29, 2024 and July 1, 2023 is as follows: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Revenue by product*: Aggregates $ 187,100 $ 182,512 $ 332,611 $ 326,165 Cement 311,188 103,607 535,285 152,620 Ready-mix concrete 393,278 199,570 705,325 338,348 Asphalt 77,624 91,809 105,609 118,444 Paving and related services 81,861 89,374 122,783 116,558 Other 67,211 62,278 121,664 112,403 Total revenue $ 1,118,262 $ 729,150 $ 1,923,277 $ 1,164,538 *Revenue from liquid asphalt terminals is included in asphalt revenue.
Schedule of Accounts Receivable, Net	Accounts receivable, net consisted of the following as of June 29, 2024 and December 30, 2023: June 29, 2024 December 30, 2023 Trade accounts receivable $ 519,801 $ 228,697 Construction contract receivables 36,677 51,567 Retention receivables 9,534 13,541 Receivables from related parties 97 — Accounts receivable 566,109 293,805 Less: Allowance for doubtful accounts (16,016) (6,553) Accounts receivable, net $ 550,093 $ 287,252

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 29, 2024
Inventory Disclosure [Abstract]
Schedule of Components of Inventories	Inventories consisted of the following as of June 29, 2024 and December 30, 2023: June 29, 2024 December 30, 2023 Aggregate stockpiles $ 172,183 $ 165,272 Finished goods 95,702 43,122 Work in process 17,680 10,702 Raw materials 63,534 22,254 Total $ 349,099 $ 241,350

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	6 Months Ended
	Jun. 29, 2024
Payables and Accruals [Abstract]
Schedule of Components of Accrued Expenses	Accrued expenses consisted of the following as of June 29, 2024 and December 30, 2023: June 29, 2024 December 30, 2023 Interest $ 71,393 $ 27,593 Payroll and benefits 50,155 63,888 Finance lease obligations 5,051 4,020 Insurance 37,308 25,277 Current portion of accrued taxes and TRA liability 22,793 11,042 Deferred asset purchase payments 7,979 5,903 Professional fees 3,241 2,036 Other (1) 52,435 31,932 Total $ 250,355 $ 171,691 (1) Consists primarily of current portion of asset retirement obligations and miscellaneous accruals.

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following as of June 29, 2024 and December 30, 2023: June 29, 2024 December 30, 2023 Term Loan, due 2029: $1,007.5 million and $504.5 million, net of $2.3 million and $4.0 million discount at June 29, 2024 and December 30, 2023, respectively $ 1,005,202 $ 500,473 6 1 ⁄ 2 % Senior Notes, due 2027 300,000 300,000 5 1 ⁄ 4 % Senior Notes, due 2029 700,000 700,000 7 1 ⁄ 4 % Senior Notes, due 2031 800,000 800,000 Total 2,805,202 2,300,473 Current portion of long-term debt 7,575 3,822 Long-term debt $ 2,797,627 $ 2,296,651
Schedule of Contractual Payments of Long-Term Debt	The contractual payments of long-term debt, including current maturities, for the five years subsequent to June 29, 2024, are as follows: 2024 (six months) $ 2,525 2025 12,625 2026 10,100 2027 310,100 2028 10,100 2029 1,662,025 Thereafter 800,000 Total 2,807,475 Less: Original issue net discount (2,273) Less: Deferred financing costs (26,164) Total debt $ 2,779,038
Shedule of Activity for Deferred Financing Fees	The following table presents the activity for the deferred financing fees for the six months ended June 29, 2024 and July 1, 2023: Deferred financing fees Balance—December 30, 2023 $ 14,463 Loan origination fees 17,732 Amortization (2,997) Write off of deferred financing fees (1,462) Balance—June 29, 2024 $ 27,736 Balance—December 31, 2022 $ 11,489 Loan origination fees 1,566 Amortization (1,227) Write off of deferred financing fees (160) Balance—July 1, 2023 $ 11,668

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
Schedule of Basic Earnings Per Share	The following table shows the calculation of basic and diluted earnings per share: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net income attributable to Summit Inc. $ 106,075 $ 83,637 $ 39,209 $ 52,833 Weighted average shares of Class A stock outstanding 175,510,071 118,848,214 171,478,056 118,706,385 Add: Nonvested restricted stock awards of retirement eligible shares 40,416 83,700 52,975 99,400 Weighted average shares outstanding 175,550,487 118,931,914 171,531,031 118,805,785 Basic earnings per share $ 0.60 $ 0.70 $ 0.23 $ 0.44 Diluted net income attributable to Summit Inc. $ 106,075 $ 83,637 $ 39,209 $ 52,833 Weighted average shares outstanding 175,550,487 118,931,914 171,531,031 118,805,785 Add: stock options 104,706 100,895 116,734 99,102 Add: warrants 17,061 13,194 17,116 12,978 Add: restricted stock units 263,418 193,011 408,314 340,958 Add: performance stock units 196,329 154,695 234,849 172,781 Weighted average dilutive shares outstanding 176,132,001 119,393,709 172,308,044 119,431,604 Diluted earnings per share $ 0.60 $ 0.70 $ 0.23 $ 0.44
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Excluded from the above calculations were the shares noted below as they were antidilutive: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Antidilutive shares: LP Units — 1,310,004 255,783 1,310,630

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	6 Months Ended
	Jun. 29, 2024
Stockholders' Equity Note [Abstract]
Schedule of Changes in Ownership of Summit Holdings	The following table summarizes the changes in our ownership of Summit Holdings: Summit Inc. LP Units Total Summit Inc. Balance — December 30, 2023 119,529,380 763,243 120,292,623 99.4 % Exchanges during period 763,243 (763,243) — Stock option exercises 83,488 — 83,488 Issuance of Class A common stock 54,720,000 — 54,720,000 Other equity transactions 490,360 — 490,360 Balance — June 29, 2024 175,586,471 — 175,586,471 100.0 % Balance — December 31, 2022 118,408,655 1,312,004 119,720,659 98.9 % Exchanges during period 2,000 (2,000) — Stock option exercises 4,240 — 4,240 Other equity transactions 471,379 — 471,379 Balance — July 1, 2023 118,886,274 1,310,004 120,196,278 98.9 %
Schedule of Changes in Each Component of Accumulated Other Comprehensive Income (Loss)	The changes in each component of accumulated other comprehensive income (loss) consisted of the following: Change in Foreign currency Accumulated Balance — December 30, 2023 $ 6,840 $ 435 $ 7,275 Foreign currency translation adjustment, net of tax — (5,127) (5,127) Balance — June 29, 2024 $ 6,840 $ (4,692) $ 2,148 Balance — December 31, 2022 $ 6,356 $ (3,272) $ 3,084 Foreign currency translation adjustment, net of tax — 3,242 3,242 Balance — July 1, 2023 $ 6,356 $ (30) $ 6,326

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 29, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information is as follows: Six months ended June 29, 2024 July 1, 2023 Cash payments: Interest $ 53,234 $ 38,107 Payments for income taxes, net 11,390 6,941 Operating cash payments on operating leases 11,496 4,801 Operating cash payments on finance leases 1,469 282 Finance cash payments on finance leases 2,777 5,223 Non cash investing and financing activities: Accrued liabilities for purchases of property, plant and equipment $ 44,303 $ 14,994 Right of use assets obtained in exchange for operating lease obligations 68,151 2,050 Right of use assets obtained in exchange for finance leases obligations 28,764 413 Exchange of LP Units to shares of Class A common stock 32,633 60 Issuance of Class A common stock 1,973,750 —

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 29, 2024
Leases [Abstract]
Schedule of Lease Cost	The components of lease expense were as follows: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Operating lease cost $ 6,245 $ 2,697 $ 12,274 $ 5,338 Variable lease cost 2,135 34 3,800 64 Short-term lease cost 11,352 10,184 20,674 17,454 Financing lease cost: Amortization of right-of-use assets 1,466 714 2,925 1,532 Interest on lease liabilities 776 133 1,421 281 Total lease cost $ 21,974 $ 13,762 $ 41,094 $ 24,669 June 29, 2024 December 30, 2023 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 89,360 $ 36,553 Current operating lease liabilities $ 17,217 $ 8,596 Noncurrent operating lease liabilities 77,326 33,230 Total operating lease liabilities $ 94,543 $ 41,826 Finance leases: Property and equipment, gross $ 56,022 $ 30,136 Less accumulated depreciation (13,206) (12,088) Property and equipment, net $ 42,816 $ 18,048 Current finance lease liabilities $ 5,051 $ 4,020 Long-term finance lease liabilities 33,085 14,357 Total finance lease liabilities $ 38,136 $ 18,377 Weighted average remaining lease term (years): Operating leases 7.2 8.4 Finance lease 10.1 6.0 Weighted average discount rate: Operating leases 7.3 % 5.1 % Finance leases 8.2 % 7.7 % Maturities of lease liabilities, as of June 29, 2024, were as follows: Operating Leases Finance Leases 2024 (six months) $ 11,304 $ 4,252 2025 21,854 6,900 2026 18,501 5,585 2027 15,148 5,402 2028 12,093 5,818 2029 10,536 4,477 Thereafter 31,745 24,743 Total lease payments 121,181 57,177 Less imputed interest (26,638) (19,041) Present value of lease payments $ 94,543 $ 38,136
Schedule of Lease Assets and Liabilities	The components of lease expense were as follows: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Operating lease cost $ 6,245 $ 2,697 $ 12,274 $ 5,338 Variable lease cost 2,135 34 3,800 64 Short-term lease cost 11,352 10,184 20,674 17,454 Financing lease cost: Amortization of right-of-use assets 1,466 714 2,925 1,532 Interest on lease liabilities 776 133 1,421 281 Total lease cost $ 21,974 $ 13,762 $ 41,094 $ 24,669 June 29, 2024 December 30, 2023 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 89,360 $ 36,553 Current operating lease liabilities $ 17,217 $ 8,596 Noncurrent operating lease liabilities 77,326 33,230 Total operating lease liabilities $ 94,543 $ 41,826 Finance leases: Property and equipment, gross $ 56,022 $ 30,136 Less accumulated depreciation (13,206) (12,088) Property and equipment, net $ 42,816 $ 18,048 Current finance lease liabilities $ 5,051 $ 4,020 Long-term finance lease liabilities 33,085 14,357 Total finance lease liabilities $ 38,136 $ 18,377 Weighted average remaining lease term (years): Operating leases 7.2 8.4 Finance lease 10.1 6.0 Weighted average discount rate: Operating leases 7.3 % 5.1 % Finance leases 8.2 % 7.7 % Maturities of lease liabilities, as of June 29, 2024, were as follows: Operating Leases Finance Leases 2024 (six months) $ 11,304 $ 4,252 2025 21,854 6,900 2026 18,501 5,585 2027 15,148 5,402 2028 12,093 5,818 2029 10,536 4,477 Thereafter 31,745 24,743 Total lease payments 121,181 57,177 Less imputed interest (26,638) (19,041) Present value of lease payments $ 94,543 $ 38,136
Schedule of Finance Lease Liability Maturities	The components of lease expense were as follows: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Operating lease cost $ 6,245 $ 2,697 $ 12,274 $ 5,338 Variable lease cost 2,135 34 3,800 64 Short-term lease cost 11,352 10,184 20,674 17,454 Financing lease cost: Amortization of right-of-use assets 1,466 714 2,925 1,532 Interest on lease liabilities 776 133 1,421 281 Total lease cost $ 21,974 $ 13,762 $ 41,094 $ 24,669 June 29, 2024 December 30, 2023 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 89,360 $ 36,553 Current operating lease liabilities $ 17,217 $ 8,596 Noncurrent operating lease liabilities 77,326 33,230 Total operating lease liabilities $ 94,543 $ 41,826 Finance leases: Property and equipment, gross $ 56,022 $ 30,136 Less accumulated depreciation (13,206) (12,088) Property and equipment, net $ 42,816 $ 18,048 Current finance lease liabilities $ 5,051 $ 4,020 Long-term finance lease liabilities 33,085 14,357 Total finance lease liabilities $ 38,136 $ 18,377 Weighted average remaining lease term (years): Operating leases 7.2 8.4 Finance lease 10.1 6.0 Weighted average discount rate: Operating leases 7.3 % 5.1 % Finance leases 8.2 % 7.7 % Maturities of lease liabilities, as of June 29, 2024, were as follows: Operating Leases Finance Leases 2024 (six months) $ 11,304 $ 4,252 2025 21,854 6,900 2026 18,501 5,585 2027 15,148 5,402 2028 12,093 5,818 2029 10,536 4,477 Thereafter 31,745 24,743 Total lease payments 121,181 57,177 Less imputed interest (26,638) (19,041) Present value of lease payments $ 94,543 $ 38,136
Schedule of Operating Lease Liability Maturities	The components of lease expense were as follows: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Operating lease cost $ 6,245 $ 2,697 $ 12,274 $ 5,338 Variable lease cost 2,135 34 3,800 64 Short-term lease cost 11,352 10,184 20,674 17,454 Financing lease cost: Amortization of right-of-use assets 1,466 714 2,925 1,532 Interest on lease liabilities 776 133 1,421 281 Total lease cost $ 21,974 $ 13,762 $ 41,094 $ 24,669 June 29, 2024 December 30, 2023 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 89,360 $ 36,553 Current operating lease liabilities $ 17,217 $ 8,596 Noncurrent operating lease liabilities 77,326 33,230 Total operating lease liabilities $ 94,543 $ 41,826 Finance leases: Property and equipment, gross $ 56,022 $ 30,136 Less accumulated depreciation (13,206) (12,088) Property and equipment, net $ 42,816 $ 18,048 Current finance lease liabilities $ 5,051 $ 4,020 Long-term finance lease liabilities 33,085 14,357 Total finance lease liabilities $ 38,136 $ 18,377 Weighted average remaining lease term (years): Operating leases 7.2 8.4 Finance lease 10.1 6.0 Weighted average discount rate: Operating leases 7.3 % 5.1 % Finance leases 8.2 % 7.7 % Maturities of lease liabilities, as of June 29, 2024, were as follows: Operating Leases Finance Leases 2024 (six months) $ 11,304 $ 4,252 2025 21,854 6,900 2026 18,501 5,585 2027 15,148 5,402 2028 12,093 5,818 2029 10,536 4,477 Thereafter 31,745 24,743 Total lease payments 121,181 57,177 Less imputed interest (26,638) (19,041) Present value of lease payments $ 94,543 $ 38,136

FAIR VALUE (Tables)

FAIR VALUE (Tables)	6 Months Ended
	Jun. 29, 2024
Fair Value Disclosures [Abstract]
Schedule of Contingent Consideration and Derivatives Measured at Fair Value	The fair value of contingent consideration as of June 29, 2024 and December 30, 2023 was: June 29, 2024 December 30, 2023 Current portion of acquisition-related liabilities and Accrued expenses: Contingent consideration $ 1,701 $ 139 Acquisition-related liabilities and Other noncurrent liabilities: Contingent consideration $ 7,971 $ 9,254
Schedule of Carrying Value and Fair Value of Financial Instruments	The carrying value and fair value of these financial instruments as of June 29, 2024 and December 30, 2023 was: June 29, 2024 December 30, 2023 Fair Value Carrying Value Fair Value Carrying Value Level 1 Long-term debt(1) $ 2,814,031 $ 2,805,202 $ 2,329,606 $ 2,300,473 Level 3 Current portion of deferred consideration and noncompete obligations(2) 7,286 7,286 6,868 6,868 Long term portion of deferred consideration and noncompete obligations(3) 13,246 13,246 18,767 18,767 (1) $7.6 million and $3.8 million was included in current portion of debt as of June 29, 2024 and December 30, 2023, respectively. (2) Included in current portion of acquisition-related liabilities on the consolidated balance sheets. (3) Included in acquisition-related liabilities on the consolidated balance sheets.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Schedule of Financial Data for Company's Reportable Business Segments	The following tables display selected financial data for the Company’s reportable business segments as of June 29, 2024 and December 30, 2023 and for the three and six months ended June 29, 2024 and July 1, 2023: Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Revenue*: West $ 453,382 $ 430,738 $ 757,920 $ 681,620 East 340,059 186,537 608,753 316,926 Cement 324,821 111,875 556,604 165,992 Total revenue $ 1,118,262 $ 729,150 $ 1,923,277 $ 1,164,538 *Intercompany sales totaled $53.5 million and $94.0 million for the three and six months ended June 29, 2024, respectively, and $1.6 million and $2.4 million for the three and six months ended July 1, 2023, respectively. The presentation above only reflects sales to external customers. Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Income from operations before taxes $ 131,891 $ 107,209 $ 53,556 $ 69,531 Interest expense 52,849 27,902 104,741 55,322 Depreciation, depletion and amortization 103,379 54,042 198,342 104,230 Accretion 1,018 745 2,026 1,451 Loss on debt financings — — 5,453 493 Gain on sale of businesses (3,758) — (18,743) — Non-cash compensation 7,413 5,216 14,133 9,924 Argos USA acquisition and integration costs 9,737 — 71,031 — Other (6,363) (3,369) (13,148) (8,005) Total Adjusted EBITDA $ 296,166 $ 191,745 $ 417,391 $ 232,946 Total Adjusted EBITDA by Segment: West $ 101,585 $ 104,517 $ 144,985 $ 137,195 East 70,554 47,617 108,030 66,469 Cement 140,769 52,872 200,223 52,882 Corporate and other (16,742) (13,261) (35,847) (23,600) Total Adjusted EBITDA $ 296,166 $ 191,745 $ 417,391 $ 232,946 Six months ended June 29, 2024 July 1, 2023 Purchases of property, plant and equipment West $ 75,744 $ 70,687 East 46,570 30,378 Cement 45,813 19,477 Total reportable segments 168,127 120,542 Corporate and other 7,833 6,351 Total purchases of property, plant and equipment $ 175,960 $ 126,893 Three months ended Six months ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Depreciation, depletion, amortization and accretion: West $ 30,270 $ 28,144 $ 60,608 $ 54,517 East 23,369 15,718 46,450 31,253 Cement 48,268 9,891 88,973 17,889 Total reportable segments 101,907 53,753 196,031 103,659 Corporate and other 2,490 1,034 4,337 2,022 Total depreciation, depletion, amortization and accretion $ 104,397 $ 54,787 $ 200,368 $ 105,681 June 29, 2024 December 30, 2023 Total assets: West $ 2,037,224 $ 1,837,214 East 1,618,636 1,171,944 Cement 4,090,823 904,508 Total reportable segments 7,746,683 3,913,666 Corporate and other 567,309 1,235,916 Total $ 8,313,992 $ 5,149,582

SUMMARY OF ORGANIZATION AND S_3

SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 12, 2024 USD ($) shares	Jun. 29, 2024 USD ($) state	Jul. 01, 2023 USD ($)	Jun. 29, 2024 USD ($) state segment cementPlant	Jul. 01, 2023 USD ($)	Dec. 30, 2023 USD ($)
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Number of operating segments | segment				3
Number of reportable segments | segment				3
Proceeds from debt issuances				$ 1,007,475	$ 0
Number of states in which the entity operates | state		24		24
Transaction and integration costs		$ 10,265	$ 1,712	$ 72,473	2,076
Deferred tax liabilities		$ 189,138		$ 189,138		$ 15,854
Argos USA
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Cash consideration	$ 1,200,000
Net cash paid for acquisitions	3,119,213
Argos USA | Seven Point Two Five Percent Senior Notes Due Two Thousand Thirty One | Senior Notes
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Proceeds from debt issuances	$ 800,000
Argos USA | Preferred Stock
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Business acquisition number of shares (in shares) | shares	1
Argos USA | Common Class A
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Business acquisition number of shares (in shares) | shares	54,720,000
Revision of Prior Period, Reclassification, Adjustment
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Transaction and integration costs			$ 1,700		$ 2,100
Deferred tax liabilities						$ 15,900
Cement plant
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Number of plants | cementPlant				6

ACQUISITIONS, DISPOSTIONS, GO_3

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Narrative (Details) $ / shares in Units, T in Millions		3 Months Ended		6 Months Ended
	Jan. 12, 2024 USD ($) inlandTerminal T ready-mixPlant integratedCementPlant grindingFacility port $ / shares shares	Jun. 29, 2024 USD ($) $ / shares	Jul. 01, 2023 USD ($)	Jun. 29, 2024 USD ($) business $ / shares	Jun. 29, 2024 USD ($) $ / shares	Jul. 01, 2023 USD ($)	Dec. 30, 2023 $ / shares
Business Acquisition [Line Items]
Preferred stock, par value (in usd per share) | $ / shares		$ 0.01		$ 0.01	$ 0.01		$ 0.01
Argos USA acquisition and integration costs		$ 9,737,000	$ 0	$ 71,031,000		$ 0
Purchase of intellectual property				21,400,000		0
Amortization expense		11,000,000	900,000	20,200,000		1,800,000
Proceeds from sale of businesses				86,031,000		0
Gain on sale of business		3,758,000	$ 0	$ 18,743,000		$ 0
East
Business Acquisition [Line Items]
Number of businesses sold | business				2
West
Business Acquisition [Line Items]
Number of businesses sold | business				1
East and West
Business Acquisition [Line Items]
Proceeds from sale of businesses				$ 86,000,000
Gain on sale of business				$ 18,700,000
Argos USA
Business Acquisition [Line Items]
Purchase price	$ 3,119,213,000
Cash consideration	$ 1,200,000,000
Preferred stock, par value (in usd per share) | $ / shares	$ 0.01
Number of integrated cement plants | integratedCementPlant	4
Number of grinding facilities | grindingFacility	2
Number of ready-mix concrete plants | ready-mixPlant	140
Number of ports | port	8
Number of inland | inlandTerminal	10
Cement grinding capacity per annum | T	9.6
import capacity of cement per annum | T	5.4
Revenue of acquiree since acquisition date, actual					$ 805,900,000
Earnings or loss of acquiree since acquisition date, actual					$ 81,800,000
Percentage of voting interests acquired	25.01%
Decrease in property, plant and equipment		92,000,000
Increase in other noncurrent liabilities		37,000,000
Decrease in deferred tax liabilities		$ 38,000,000
Intangible assets, net	$ 100,000,000
Argos USA | Customer-Related Intangible Assets
Business Acquisition [Line Items]
Intangible assets, net	$ 85,000,000
Weighted average useful life	3 years
Argos USA | Contractual Intangible Assets
Business Acquisition [Line Items]
Intangible assets, net	$ 15,000,000
Weighted average useful life	8 years
Argos USA | Intellectual Property Licenses
Business Acquisition [Line Items]
Purchase of intellectual property	$ 21,400,000
Argos USA | Preferred Stock
Business Acquisition [Line Items]
Business acquisition number of shares (in shares) | shares	1
Argos USA | Common Class A
Business Acquisition [Line Items]
Business acquisition number of shares (in shares) | shares	54,720,000
Share price (in usd per share) | $ / shares	$ 36.07

ACQUISITIONS, DISPOSTIONS, GO_4

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Pro forma Revenue and Net Income (Details) - Argos USA - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Business Acquisition [Line Items]
Total Revenues	$ 1,118,262	$ 1,156,922	$ 1,967,164	$ 1,992,318
Net income attributable to Summit Inc.	$ 106,075	$ 108,608	$ 39,806	$ 72,764

ACQUISITIONS, DISPOSTIONS, GO_5

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Pro forma Preliminary Price Allocation (Details) - USD ($) $ in Thousands		6 Months Ended
	Jan. 12, 2024	Jun. 29, 2024	Jul. 01, 2023
Business Acquisition [Line Items]
Cash consideration		$ 1,113,267	$ 237,666
Argos USA
Business Acquisition [Line Items]
Cash consideration	$ 1,145,463
Fair value of stock consideration issued	1,973,750
Total fair value of consideration transferred	$ 3,119,213

ACQUISITIONS, DISPOSTIONS, GO_6

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Fair Value of Assets Acquired And Liabilities Assumed (Details) - USD ($) $ in Thousands	Jan. 12, 2024	Jun. 29, 2024	Dec. 30, 2023
Business Acquisition [Line Items]
Goodwill		$ 2,093,010	$ 1,224,861
Argos USA
Business Acquisition [Line Items]
Purchase Price	$ 3,119,213
Cash and cash equivalents	97,153
Accounts receivable, net	157,170
Inventories	101,481
Other current assets	10,505
Intangible assets, net	100,000
Property, plant and equipment, net	2,355,417
Operating lease right of use assets	55,756
Other assets	50,414
Accounts payable	(124,242)
Accrued expenses	(71,628)
Current operating lease liabilities	(7,545)
Noncurrent operating lease liabilities	(48,211)
Deferred tax liabilities	(225,614)
Other noncurrent liabilities	(203,233)
Net assets acquired	2,247,423
Goodwill	$ 871,790

ACQUISITIONS, DISPOSTIONS, GO_7

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Acquisitions by Region (Details)	6 Months Ended	12 Months Ended
	Jun. 29, 2024 Segment acquisition	Dec. 30, 2023 acquisition
Argos USA
Business Acquisition [Line Items]
Number of segments affected by acquisition | Segment	3
West
Business Acquisition [Line Items]
Number of businesses acquired	1	3
Number of aggregate-based operations acquired	2
East
Business Acquisition [Line Items]
Number of businesses acquired	1	1
Cement
Business Acquisition [Line Items]
Number of businesses acquired	0	0

ACQUISITIONS, DISPOSTIONS, GO_8

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
	Jan. 12, 2024	Jun. 29, 2024	Dec. 30, 2023
Business Acquisition [Line Items]
Goodwill		$ 2,093,010	$ 1,224,861
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Financial assets		1,739	12,747
Inventories		161	6,251
Property, plant and equipment		29,191	125,207
Other assets		304	1,085
Financial liabilities		(3,177)	(11,973)
Other long-term liabilities		(43)	(802)
Net assets acquired		28,175	132,515
Goodwill		36,782	108,590
Purchase price		64,957	241,105
Other		0	(1,597)
Net cash paid for acquisitions		$ 64,957	$ 239,508
Argos USA
Business Acquisition [Line Items]
Inventories	$ 101,481
Property, plant and equipment	2,355,417
Other long-term liabilities	(203,233)
Net assets acquired	2,247,423
Goodwill	871,790
Net cash paid for acquisitions	$ 3,119,213

ACQUISITIONS, DISPOSTIONS, GO_9

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Summary of Goodwill by Reportable Segments (Details) $ in Thousands	6 Months Ended
	Jun. 29, 2024 USD ($)
Goodwill [Roll Forward]
Balance—December 30, 2023	$ 1,224,861
Acquisitions	908,204
Dispositions	(37,938)
Foreign currency translation adjustments	(2,117)
Balance—June 29, 2024	2,093,010
West
Goodwill [Roll Forward]
Balance—December 30, 2023	658,704
Acquisitions	36,414
Dispositions	0
Foreign currency translation adjustments	(2,117)
Balance—June 29, 2024	693,001
East
Goodwill [Roll Forward]
Balance—December 30, 2023	361,501
Acquisitions	0
Dispositions	(37,938)
Foreign currency translation adjustments	0
Balance—June 29, 2024	323,563
Cement
Goodwill [Roll Forward]
Balance—December 30, 2023	204,656
Acquisitions	871,790
Dispositions	0
Foreign currency translation adjustments	0
Balance—June 29, 2024	$ 1,076,446

ACQUISITIONS, DISPOSTIONS, G_10

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Intangible Assets By Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Dec. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (39,586)		$ (39,586)		$ (18,972)
Amortization expense	11,000	$ 900	20,200	$ 1,800
Intangible Assets Excluding Intangible Assets Held for Sale
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	207,868		207,868		87,053
Accumulated Amortization	(39,586)		(39,586)		(18,972)
Net Carrying Amount	168,282		168,282		68,081
Operating permits
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	38,677		38,677		38,677
Accumulated Amortization	(6,505)		(6,505)		(5,691)
Net Carrying Amount	32,172		32,172		32,986
Mineral leases
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	17,375		17,375		17,778
Accumulated Amortization	(7,724)		(7,724)		(7,676)
Net Carrying Amount	9,651		9,651		10,102
Reserve rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	25,586		25,586		25,586
Accumulated Amortization	(5,432)		(5,432)		(5,020)
Net Carrying Amount	20,154		20,154		20,566
Intellectual property
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	21,400		21,400		0
Accumulated Amortization	(5,053)		(5,053)		0
Net Carrying Amount	16,347		16,347		0
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	104,830		104,830		5,012
Accumulated Amortization	(14,872)		(14,872)		(585)
Net Carrying Amount	$ 89,958		$ 89,958		$ 4,427

ACQUISITIONS, DISPOSTIONS, G_11

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Estimated amortization expense
2024 (six months)	$ 22,463
2025	44,889
2026	34,439
2027	6,608
2028	5,805
2029	5,102
Thereafter	48,976
Total	$ 168,282	$ 68,081

REVENUE RECOGNITION - By Produc

REVENUE RECOGNITION - By Product (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Revenue from External Customer [Line Items]
Total revenue	$ 1,118,262	$ 729,150	$ 1,923,277	$ 1,164,538
Aggregates
Revenue from External Customer [Line Items]
Total revenue	187,100	182,512	332,611	326,165
Cement
Revenue from External Customer [Line Items]
Total revenue	311,188	103,607	535,285	152,620
Ready-mix concrete
Revenue from External Customer [Line Items]
Total revenue	393,278	199,570	705,325	338,348
Asphalt
Revenue from External Customer [Line Items]
Total revenue	77,624	91,809	105,609	118,444
Paving and related services
Revenue from External Customer [Line Items]
Total revenue	81,861	89,374	122,783	116,558
Other
Revenue from External Customer [Line Items]
Total revenue	$ 67,211	$ 62,278	$ 121,664	$ 112,403

REVENUE RECOGNITION - Schedule

REVENUE RECOGNITION - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Dec. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade accounts receivable	$ 519,801	$ 228,697
Construction contract receivables	36,677	51,567
Retention receivables	9,534	13,541
Receivables from related parties	97	0
Accounts receivable	566,109	293,805
Less: Allowance for doubtful accounts	(16,016)	(6,553)
Accounts receivable, net	$ 550,093	$ 287,252
Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
General collection and billing period for retention receivables	1 year

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Inventory Disclosure [Abstract]
Aggregate stockpiles	$ 172,183	$ 165,272
Finished goods	95,702	43,122
Work in process	17,680	10,702
Raw materials	63,534	22,254
Total	$ 349,099	$ 241,350

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Payables and Accruals [Abstract]
Interest	$ 71,393	$ 27,593
Payroll and benefits	50,155	63,888
Finance lease obligations	5,051	4,020
Insurance	37,308	25,277
Current portion of accrued taxes and TRA liability	22,793	11,042
Deferred asset purchase payments	7,979	5,903
Professional fees	3,241	2,036
Other	52,435	31,932
Total	$ 250,355	$ 171,691

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Debt Instrument [Line Items]
Total debt	$ 2,805,202	$ 2,300,473
Current portion of long-term debt	7,575	3,822
Long-term debt	2,797,627	2,296,651
Gross amount	2,807,475
Debt discount	2,273
Term Loan, due 2027
Debt Instrument [Line Items]
Total debt	1,005,202	500,473
Gross amount	1,007,500	504,500
Debt discount	2,300	4,000
Senior Notes | 61⁄2% Senior Notes, due 2027
Debt Instrument [Line Items]
Total debt	300,000	300,000
Senior Notes | 51⁄4% Senior Notes, due 2029
Debt Instrument [Line Items]
Total debt	700,000	700,000
Senior Notes | 71⁄4% Senior Notes, due 2031
Debt Instrument [Line Items]
Total debt	$ 800,000	$ 800,000

DEBT - Schedule of Contractual

DEBT - Schedule of Contractual Payments of Long-Term Debt (Details) $ in Thousands	Jun. 29, 2024 USD ($)
Debt Disclosure [Abstract]
2024 (six months)	$ 2,525
2025	12,625
2026	10,100
2027	310,100
2028	10,100
2029	1,662,025
Thereafter	800,000
Total	2,807,475
Less: Original issue net discount	(2,273)
Less: Deferred financing costs	(26,164)
Total debt	$ 2,779,038

DEBT - Senior Notes (Details)

DEBT - Senior Notes (Details) - USD ($)	Dec. 14, 2023	Aug. 11, 2020	Mar. 15, 2019	Jun. 29, 2024
Issuers | 51⁄4% Senior Notes, due 2029
Debt Instrument [Line Items]
Debt instrument, face amount		$ 700,000,000
Senior notes, interest rate (as a percent)		5.25%
Proceeds net of related fees and expenses		$ 690,400,000
Issuers | 61⁄2% Senior Notes, due 2027
Debt Instrument [Line Items]
Debt instrument, face amount			$ 300,000,000
Senior notes, interest rate (as a percent)			6.50%
Senior Notes | 71⁄4% Senior Notes, due 2031
Debt Instrument [Line Items]
Senior notes, interest rate (as a percent)				7.25%
Senior Notes | 51⁄4% Senior Notes, due 2029
Debt Instrument [Line Items]
Senior notes, interest rate (as a percent)				5.25%
Senior Notes | 61⁄2% Senior Notes, due 2027
Debt Instrument [Line Items]
Senior notes, interest rate (as a percent)				6.50%
Senior Notes | Issuers | 71⁄4% Senior Notes, due 2031
Debt Instrument [Line Items]
Debt instrument, face amount	$ 800,000,000
Senior notes, interest rate (as a percent)	7.25%
Percentage of par value of senior notes	100%
Proceeds net of related fees and expenses	$ 788,300,000
Senior Notes | Issuers | 51⁄4% Senior Notes, due 2029
Debt Instrument [Line Items]
Percentage of par value of senior notes		100%
Senior Notes | Issuers | 61⁄2% Senior Notes, due 2027
Debt Instrument [Line Items]
Percentage of par value of senior notes			100%
Proceeds net of related fees and expenses			$ 296,300,000

DEBT - Senior Secured Credit Fa

DEBT - Senior Secured Credit Facilities (Details)			1 Months Ended	6 Months Ended
	Jun. 30, 2024	Jan. 12, 2024 USD ($)	Jul. 31, 2024	Jun. 29, 2024 USD ($)	Jul. 01, 2023 USD ($)	Jan. 11, 2024 USD ($)	Dec. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)
Debt Instrument [Line Items]
Write off of deferred financing fees				$ 1,462,000	$ 160,000
Term Loan, due 2027 | Summit Materials, LLC
Debt Instrument [Line Items]
Debt instrument, face amount		$ 1,010,000,000
Effective interest rate		7.80%
Prepayment premium percentage		1%
Quarterly amortization payments, percentage		0.25%
Amount refinanced		$ 504,500,000
Refinancing expense				5,500,000
Write off of debt discount				4,000,000
Write off of deferred financing fees				1,500,000
Maturity date adjustment, amount outstanding threshold				125,000,000
Term Loan, due 2027 | Summit Materials, LLC | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Term Loan, due 2027 | Summit Materials, LLC | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		1%
Term Loan, due 2027 | Summit Materials, LLC | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%
Term Loan, due 2027 | Summit Materials, LLC | Secured Overnight Financing Rate (SOFR) | Subsequent Event
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%		1.75%
Revolving Credit Facility | Summit Materials, LLC
Debt Instrument [Line Items]
Revolving credit commitment		$ 625,000,000				$ 395,000,000
Amount outstanding				0			$ 0
Remaining borrowing capacity				592,700,000
Revolving Credit Facility | Summit Materials, LLC | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Revolving Credit Facility | Summit Materials, LLC | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		1%
Revolving Credit Facility | Summit Materials, LLC | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%
Revolving Credit Facility | Summit Materials, LLC | Secured Overnight Financing Rate (SOFR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0%
Letter of Credit | Summit Materials, LLC
Debt Instrument [Line Items]
Amount outstanding				$ 32,300,000
Senior Secured Credit Facilities | Summit Materials, LLC
Debt Instrument [Line Items]
First lien leverage ratio				4.75
Senior Secured Credit Facilities | Summit Materials, LLC | Line of Credit | Argos USA
Debt Instrument [Line Items]
Amount outstanding				$ 11,400,000
Bridge Loan
Debt Instrument [Line Items]
Debt instrument, face amount								$ 1,300,000,000

DEBT - Schedule of Activity for

DEBT - Schedule of Activity for Deferred Financing Fees (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Accumulated Amortization [Roll Forward]
Beginning balance	$ 14,463	$ 11,489
Loan origination fees	17,732	1,566
Amortization	(2,997)	(1,227)
Write off of deferred financing fees	(1,462)	(160)
Ending balance	$ 27,736	$ 11,668

DEBT - Other (Details)

DEBT - Other (Details) - CAD ($)	Jan. 15, 2015	Jun. 29, 2024	Dec. 30, 2023
Canadian Subsidiary Credit Agreement, Operating Activities
Debt Instrument [Line Items]
Revolving credit commitment	$ 6,000,000
Basis spread on variable rate	0.20%
Canadian Subsidiary Credit Agreement, Capital Equipment
Debt Instrument [Line Items]
Revolving credit commitment	$ 500,000
Basis spread on variable rate	0.20%
Canadian Subsidiary Credit Agreement, Guarantees
Debt Instrument [Line Items]
Revolving credit commitment	$ 1,500,000
Canadian Subsidiary Credit Agreement, Foreign Exchange Facility
Debt Instrument [Line Items]
Revolving credit commitment	$ 10,000,000
Canadian Subsidiary Credit Agreement
Debt Instrument [Line Items]
Amount outstanding		$ 0	$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Dec. 30, 2023
Income Taxes [Line Items]
Income tax expense	$ 25,816,000	$ 22,481,000	$ 14,751,000	$ 16,015,000
Valuation allowance	1,113,000		1,113,000		$ 1,113,000
Income tax provision, interest or penalties recognized	0	$ 0	0	$ 0
Tax receivable agreement liability	47,667,000		$ 47,667,000		$ 41,276,000
Tax Receivable Agreement
Income Taxes [Line Items]
Exchanges during period (in shares)			763,243
Increase in tax receivable agreement liability			$ 6,700,000
Tax receivable agreement liability	$ 47,700,000		$ 47,700,000
Summit Holdings LP | Tax Receivable Agreement
Income Taxes [Line Items]
Percentage of benefits to be paid on tax receivable agreement			85%

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Reconciliation of basic to diluted loss per share
Net income attributable to Summit Inc.	$ 106,075	$ 83,637	$ 39,209	$ 52,833
Diluted net income attributable to Summit Inc.	$ 106,075	$ 83,637	$ 39,209	$ 52,833
LP Units
Reconciliation of basic to diluted loss per share
Anti dilutive shares excluded from calculation of earnings per share (in shares)	0	1,310,004	255,783	1,310,630
Common Class A And Restricted Stock
Reconciliation of basic to diluted loss per share
Weighted average shares of Class A stock outstanding (in shares)	175,550,487	118,931,914	171,531,031	118,805,785
Weighted average shares outstanding (in shares)	175,550,487	118,931,914	171,531,031	118,805,785
Basic earnings per share (in usd per share)	$ 0.60	$ 0.70	$ 0.23	$ 0.44
Weighted average dilutive shares outstanding (in shares)	176,132,001	119,393,709	172,308,044	119,431,604
Common Class A
Reconciliation of basic to diluted loss per share
Weighted average shares of Class A stock outstanding (in shares)	175,510,071	118,848,214	171,478,056	118,706,385
Weighted average shares outstanding (in shares)	175,510,071	118,848,214	171,478,056	118,706,385
Basic earnings per share (in usd per share)	$ 0.60	$ 0.70	$ 0.23	$ 0.44
Add: warrants (in shares)	17,061	13,194	17,116	12,978
Weighted average dilutive shares outstanding (in shares)	176,132,001	119,393,709	172,308,044	119,431,604
Diluted earnings per share (in usd per share)	$ 0.60	$ 0.70	$ 0.23	$ 0.44
Common Class A | Add: stock options
Reconciliation of basic to diluted loss per share
Add: share-based payment arrangements (in shares)	104,706	100,895	116,734	99,102
Common Class A | Add: restricted stock units
Reconciliation of basic to diluted loss per share
Add: share-based payment arrangements (in shares)	263,418	193,011	408,314	340,958
Common Class A | Add: performance stock units
Reconciliation of basic to diluted loss per share
Add: share-based payment arrangements (in shares)	196,329	154,695	234,849	172,781
Restricted Stock
Reconciliation of basic to diluted loss per share
Add: Nonvested restricted stock awards of retirement eligible shares (in shares)	40,416	83,700	52,975	99,400

STOCKHOLDERS_ EQUITY - Narrativ

STOCKHOLDERS’ EQUITY - Narrative (Details) - USD ($)	Jun. 29, 2024	Dec. 30, 2023	Mar. 31, 2022
Summit Holdings LP
Schedule of Capitalization, Equity [Line Items]
Noncontrolling interest elimination (as a percent)	0%	0.60%
Common Class A
Schedule of Capitalization, Equity [Line Items]
Share repurchase program, authorized amount			$ 250,000,000
Remaining authorized repurchase amount	$ 149,000,000

STOCKHOLDERS_ EQUITY - Equity O

STOCKHOLDERS’ EQUITY - Equity Offerings (Details) - shares	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Dec. 30, 2023	Dec. 31, 2022
Summit Materials Inc
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ownership percentage	100%	98.90%	99.40%	98.90%
Summit Materials, Inc. and Summit Holdings, LP
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	120,292,623	119,720,659
Exchanges during period (in shares)	0	0
Stock option exercises (in shares)	83,488	4,240
Issuance of Class A common stock (in shares)	54,720,000
Other equity transactions (in shares)	490,360	471,379
Ending balance (in shares)	175,586,471	120,196,278
LP Units | Summit Holdings LP
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Number of LP Units outstanding, beginning balance (in shares)	763,243	1,312,004
Number of LP Units exchanged (in shares)	(763,243)	(2,000)
Number of LP Units outstanding, ending balance (in shares)	0	1,310,004
Common Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	119,529,380	118,408,655
Exchanges during period (in shares)	763,243	2,000
Stock option exercises (in shares)	83,488	4,240
Issuance of Class A common stock (in shares)	54,720,000
Other equity transactions (in shares)	490,360	471,379
Ending balance (in shares)	175,586,471	118,886,274

STOCKHOLDERS_ EQUITY - Accumula

STOCKHOLDERS’ EQUITY - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Changes in each component of accumulated other comprehensive loss
Beginning balance	$ 2,316,580	$ 2,011,990
Ending balance	4,332,744	2,073,964
Change in retirement plans
Changes in each component of accumulated other comprehensive loss
Beginning balance	6,840	6,356
Ending balance	6,840	6,356
Foreign currency translation adjustments
Changes in each component of accumulated other comprehensive loss
Beginning balance	435	(3,272)
Foreign currency translation adjustment, net of tax	(5,127)	3,242
Ending balance	(4,692)	(30)
Accumulated other comprehensive income (loss)
Changes in each component of accumulated other comprehensive loss
Beginning balance	7,275	3,084
Foreign currency translation adjustment, net of tax	(5,127)	3,242
Ending balance	$ 2,148	$ 6,326

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands		6 Months Ended
	Jan. 12, 2024	Jun. 29, 2024	Jul. 01, 2023
Cash payments:
Interest		$ 53,234	$ 38,107
Payments for income taxes, net		11,390	6,941
Operating cash payments on operating leases		11,496	4,801
Operating cash payments on finance leases		1,469	282
Finance cash payments on finance leases		2,777	5,223
Non cash investing and financing activities:
Accrued liabilities for purchases of property, plant and equipment		44,303	14,994
Right of use assets obtained in exchange for operating lease obligations		68,151	2,050
Right of use assets obtained in exchange for finance leases obligations		28,764	413
Exchange of LP Units to shares of Class A common stock		32,633	60
Issuance of Class A common stock		$ 1,973,750	$ 0
Argos USA | Preferred Stock
Non cash investing and financing activities:
Business acquisition number of shares (in shares)	1
Argos USA | Common Class A
Non cash investing and financing activities:
Business acquisition number of shares (in shares)	54,720,000

LEASES (Details)

LEASES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Dec. 30, 2023
Lease, Cost [Abstract]
Operating lease cost	$ 6,245	$ 2,697	$ 12,274	$ 5,338
Variable lease cost	2,135	34	3,800	64
Short-term lease cost	11,352	10,184	20,674	17,454
Financing lease cost:
Amortization of right-of-use assets	1,466	714	2,925	1,532
Interest on lease liabilities	776	133	1,421	281
Total lease cost	21,974	$ 13,762	41,094	$ 24,669
Operating leases:
Operating lease right-of-use assets	89,360		89,360		$ 36,553
Current operating lease liabilities	17,217		17,217		8,596
Noncurrent operating lease liabilities	77,326		77,326		33,230
Total operating lease liabilities	94,543		94,543		41,826
Finance leases:
Property and equipment, gross	56,022		56,022		30,136
Less accumulated depreciation	$ (13,206)		$ (13,206)		$ (12,088)
Finance lease, right-of-use asset, statement of financial position [Extensible List]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization		Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization		Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Property and equipment, net	$ 42,816		$ 42,816		$ 18,048
Finance lease, liability, current, statement of financial position [Extensible Enumeration]	Accrued expenses		Accrued expenses		Accrued expenses
Current finance lease liabilities	$ 5,051		$ 5,051		$ 4,020
Finance lease, liability, noncurrent, statement of financial position [Extensible Enumeration]	Other noncurrent liabilities		Other noncurrent liabilities		Other noncurrent liabilities
Long-term finance lease liabilities	$ 33,085		$ 33,085		$ 14,357
Total finance lease liabilities	$ 38,136		$ 38,136		$ 18,377
Weighted average remaining lease term (years):
Operating leases	7 years 2 months 12 days		7 years 2 months 12 days		8 years 4 months 24 days
Finance lease	10 years 1 month 6 days		10 years 1 month 6 days		6 years
Weighted average discount rate:
Operating leases	7.30%		7.30%		5.10%
Finance leases	8.20%		8.20%		7.70%
Operating Leases
2024 (six months)	$ 11,304		$ 11,304
2025	21,854		21,854
2026	18,501		18,501
2027	15,148		15,148
2028	12,093		12,093
2029	10,536		10,536
Thereafter	31,745		31,745
Total lease payments	121,181		121,181
Less imputed interest	(26,638)		(26,638)
Present value of lease payments	94,543		94,543		$ 41,826
Finance Leases
2024 (six months)	4,252		4,252
2025	6,900		6,900
2026	5,585		5,585
2027	5,402		5,402
2028	5,818		5,818
2029	4,477		4,477
Thereafter	24,743		24,743
Total lease payments	57,177		57,177
Less imputed interest	(19,041)		(19,041)
Present value of lease payments	$ 38,136		$ 38,136		$ 18,377

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions			6 Months Ended	12 Months Ended
	Jan. 18, 2024	Jan. 04, 2021	Jun. 29, 2024	Dec. 30, 2023
Loss Contingencies [Line Items]
Anticipated costs			$ 171.4	$ 141.8
Tax incentive receivable				460
Tax incentive liability				460
Payments for tax incentive financing				27.1
Term of purchase commitments			1 year
Site Restoration Obligations | Other noncurrent liabilities
Loss Contingencies [Line Items]
Site restoration obligation, non-current			$ 44.1	44.8
Site Restoration Obligations | Accrued expenses.
Loss Contingencies [Line Items]
Site restoration obligation, current			$ 6.5	$ 5.1
Argos USA
Loss Contingencies [Line Items]
Payment for legal penalty		$ 20
Deferred Prosecution Agreement, term	3 years	3 years

FAIR VALUE - Fair Value Measure

FAIR VALUE - Fair Value Measurements (Details) - Level 3	6 Months Ended
	Jun. 29, 2024 USD ($)	Jul. 01, 2023 USD ($)	Dec. 30, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of acquisition-related liabilities and accrued expenses - contingent consideration	$ 1,701,000		$ 139,000
Acquisition-related liabilities and Other noncurrent liabilities - Contingent consideration	7,971,000		$ 9,254,000
Adjustment to contingent consideration	$ 0	$ 0
Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration fair value measurement input	0.100

FAIR VALUE - Carrying Value and

FAIR VALUE - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Financial Instruments
Current portion of long-term debt	$ 7,575	$ 3,822
Level 1 | Fair Value
Financial Instruments
Long-term debt	2,814,031	2,329,606
Level 1 | Carrying Value
Financial Instruments
Long-term debt	2,805,202	2,300,473
Level 3 | Fair Value
Financial Instruments
Current portion of deferred consideration and noncompete obligations	7,286	6,868
Long term portion of deferred consideration and noncompete obligations	13,246	18,767
Level 3 | Carrying Value
Financial Instruments
Current portion of deferred consideration and noncompete obligations	7,286	6,868
Long term portion of deferred consideration and noncompete obligations	13,246	18,767
Fair Value, Inputs, Level 1 | Fair Value
Financial Instruments
Current portion of long-term debt	$ 7,600	$ 3,800

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	3 Months Ended		6 Months Ended
	Jun. 29, 2024 USD ($)	Jul. 01, 2023 USD ($)	Jun. 29, 2024 USD ($) segment	Jul. 01, 2023 USD ($)	Dec. 30, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			3
Number of reportable segments | segment			3
Total revenue	$ 1,118,262,000	$ 729,150,000	$ 1,923,277,000	$ 1,164,538,000
Income from operations before taxes	131,891,000	107,209,000	53,556,000	69,531,000
Interest expense	52,849,000	27,902,000	104,741,000	55,322,000
Depreciation, depletion and amortization	103,379,000	54,042,000	198,342,000	104,230,000
Accretion	1,018,000	745,000	2,026,000	1,451,000
Loss on debt financings	0	0	5,453,000	493,000
Gain on sale of businesses	(3,758,000)	0	(18,743,000)	0
Non-cash compensation	7,413,000	5,216,000	14,133,000	9,924,000
Argos USA acquisition and integration costs	9,737,000	0	71,031,000	0
Other	(6,363,000)	(3,369,000)	(13,148,000)	(8,005,000)
Total Adjusted EBITDA	296,166,000	191,745,000	417,391,000	232,946,000
Total purchases of property, plant and equipment			175,960,000	126,893,000
Total depreciation, depletion, amortization and accretion	104,397,000	54,787,000	200,368,000	105,681,000
Total assets	8,313,992,000		8,313,992,000		$ 5,149,582,000
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenue	(53,500,000)	(1,600,000)	(94,000,000)	(2,400,000)
Operating segment
Segment Reporting Information [Line Items]
Total revenue	1,118,262,000	729,150,000	1,923,277,000	1,164,538,000
Total purchases of property, plant and equipment			168,127,000	120,542,000
Total depreciation, depletion, amortization and accretion	101,907,000	53,753,000	196,031,000	103,659,000
Total assets	7,746,683,000		7,746,683,000		3,913,666,000
Corporate and other
Segment Reporting Information [Line Items]
Total Adjusted EBITDA	(16,742,000)	(13,261,000)	(35,847,000)	(23,600,000)
Total purchases of property, plant and equipment			7,833,000	6,351,000
Total depreciation, depletion, amortization and accretion	2,490,000	1,034,000	4,337,000	2,022,000
Total assets	567,309,000		567,309,000		1,235,916,000
West | Operating segment
Segment Reporting Information [Line Items]
Total revenue	453,382,000	430,738,000	757,920,000	681,620,000
Total Adjusted EBITDA	101,585,000	104,517,000	144,985,000	137,195,000
Total purchases of property, plant and equipment			75,744,000	70,687,000
Total depreciation, depletion, amortization and accretion	30,270,000	28,144,000	60,608,000	54,517,000
Total assets	2,037,224,000		2,037,224,000		1,837,214,000
East | Operating segment
Segment Reporting Information [Line Items]
Total revenue	340,059,000	186,537,000	608,753,000	316,926,000
Total Adjusted EBITDA	70,554,000	47,617,000	108,030,000	66,469,000
Total purchases of property, plant and equipment			46,570,000	30,378,000
Total depreciation, depletion, amortization and accretion	23,369,000	15,718,000	46,450,000	31,253,000
Total assets	1,618,636,000		1,618,636,000		1,171,944,000
Cement | Operating segment
Segment Reporting Information [Line Items]
Total revenue	324,821,000	111,875,000	556,604,000	165,992,000
Total Adjusted EBITDA	140,769,000	52,872,000	200,223,000	52,882,000
Total purchases of property, plant and equipment			45,813,000	19,477,000
Total depreciation, depletion, amortization and accretion	48,268,000	$ 9,891,000	88,973,000	$ 17,889,000
Total assets	$ 4,090,823,000		$ 4,090,823,000		$ 904,508,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - Affiliated Entity T in Thousands, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 29, 2024 USD ($)	Jun. 29, 2024 USD ($) T
Related Party Transaction [Line Items]
General and administrative expenses	$ 1.4	$ 1.7
Minimum quantity required to be purchased | T		425
Amount purchased during period	5.3	$ 14.4
Amount paid during period	2.8	4.5
Amount paid during period	$ 0.2	$ 0.3