Arcosa (ACA) 10-Q 30 Apr 21 2021 Q1 Quarterly report Financial data

Cover and DEI

Cover and DEI - shares	3 Months Ended
	Mar. 31, 2021	Apr. 15, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	1-38494
Entity Registrant Name	Arcosa, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-5339416
Entity Address, Address Line One	500 N. Akard Street, Suite 400
Entity Address, City or Town	Dallas,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75201
City Area Code	972
Local Phone Number	942-6500
Title of 12(b) Security	Common Stock ($0.01 par value)
Trading Symbol	ACA
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 Common Stock, Shares Outstanding		48,174,182
Entity Central Index Key	0001739445
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31

Consolidated Statements of Oper

Consolidated Statements of Operating Income (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenues	$ 440.4	$ 488.2
Operating costs:
Cost of revenues	361.1	391.3
Selling, general, and administrative expenses	56.4	51.8
Costs and Expenses, Total	417.5	443.1
Total operating profit	22.9	45.1
Interest expense	2.1	3.3
Other, net (income) expense	0.5	(0.2)
Income before income taxes	20.3	42
Provision for income taxes	4.4	10.4
Net income	$ 15.9	$ 31.6
Net income per common share:
Basic (in dollars per share)	$ 0.33	$ 0.65
Diluted (in dollars per share)	$ 0.32	$ 0.65
Weighted average number of shares outstanding:
Basic (in shares)	48	47.8
Diluted (in shares)	48.8	48.4
Dividends declared per common share	$ 0.05	$ 0.05

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 15.9	$ 31.6
Derivative financial instruments:
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	0.5	(3.4)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	0.2	(0.9)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	0.4	0.2
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	(0.1)	(0.1)
Currency translation adjustment:
Unrealized gains (losses) arising during the period, net of tax expense (benefit)	0.1	(1.1)
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	0	(0.2)
Other comprehensive income (loss)	1	(4.3)
Comprehensive income	$ 16.9	$ 27.3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2021		Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 81.9	[1]	$ 95.8
Receivables, net of allowance	289.1	[1]	260.2
Inventories:
Raw materials and supplies	136.7	[1]	114.6
Work in process	45	[1]	44.4
Finished goods	107.6	[1]	117.8
Total inventory	289.3	[1]	276.8
Other	37.5	[1]	32.1
Total current assets	697.8	[1]	664.9
Property, plant, and equipment, net	905.2	[1]	913.3
Goodwill	791.3	[1]	794
Intangibles, net	211.7	[1]	212.9
Deferred income taxes	15.2	[1]	15.4
Other assets	44.8	[1]	46.2
Total assets	2,666	[1]	2,646.7
Current liabilities:
Accounts payable	175.7	[1]	144.1
Accrued liabilities	102.1	[1]	115.2
Advance billings	28.6	[1]	44.7
Current portion of long-term debt	5.8	[1]	6.3
Total current liabilities	312.2	[1]	310.3
Debt	250.1	[1]	248.2
Deferred income taxes	114.1	[1]	112.7
Other liabilities	78.3	[1]	83.3
Total liabilities	754.7	[1]	754.5
Stockholders' equity:
Common Stock, Value, Issued	$ 0.5	[1]	$ 0.5
Common Stock, Shares Authorized	200,000,000		200,000,000
Capital in excess of par value	$ 1,699.4	[1]	$ 1,694.1
Retained earnings	233.2	[1]	219.7
Accumulated other comprehensive loss	(21.1)	[1]	(22.1)
Treasury stock	(0.7)	[1]	0
Total stockholders' equity	1,911.3	[1]	1,892.2
Total liabilities and stockholders' equity	$ 2,666	[1]	$ 2,646.7
[1]	(unaudited)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021		Mar. 31, 2020
Operating activities:
Net income	$ 15.9		$ 31.6
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization	31.4		26.8
Stock-based compensation expense	4.7		3.7
Provision for deferred income taxes	1.3		3.2
Gains on disposition of property and other assets	(5.9)		(0.8)
(Increase) decrease in other assets	1.5		(2.4)
Increase (decrease) in other liabilities	(4)		0.2
Other	2.2		2
Changes in current assets and liabilities:
(Increase) decrease in receivables	(31.9)		(7.2)
(Increase) decrease in inventories	(14.7)		(7.9)
(Increase) decrease in other current assets	(5.4)		7.8
Increase (decrease) in accounts payable	31.6		14
Increase (decrease) in advance billings	(16.1)		(9.4)
Increase (decrease) in accrued liabilities	(10.2)		(20.1)
Net cash provided by operating activities	0.4		41.5
Investing activities:
Proceeds from disposition of property and other assets	9.5		5.1
Capital expenditures	(19.9)		(21.1)
Acquisitions, net of cash acquired	0		(309.4)
Net cash required by investing activities	(10.4)		(325.4)
Financing activities:
Payments to retire debt	(1.4)		(0.3)
Proceeds from issuance of debt	0		250.2
Shares repurchased	0		(2)
Dividends paid to common shareholders	(2.4)		(2.5)
Purchase of shares to satisfy employee tax on vested stock	(0.1)		0
Proceeds from (Payments for) Other Financing Activities	0		(1.2)
Net cash provided by (required by) financing activities	(3.9)		244.2
Net increase (decrease) in cash and cash equivalents	(13.9)		(39.7)
Cash and cash equivalents at beginning of period	95.8		240.4
Cash and cash equivalents at end of period	$ 81.9	[1]	$ 200.7
[1]	(unaudited)

Consolidated Statement of Stock

Consolidated Statement of Stockholder's Equity (unaudited) - USD ($) $ in Millions	Total		Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated other comprehensive loss	Treasury Stock
Beginning balance at Dec. 31, 2019	$ 1,790.4		$ 0.5	$ 1,686.7	$ 122.9	$ (19.7)	$ 0
Beginning balance, shares at Dec. 31, 2019			48,300,000				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	31.6				31.6
Other comprehensive income (loss)	(4.3)					(4.3)
Dividends paid to common shareholders	(2.5)				(2.5)
Restricted shares, net - shares			0				0
Restricted shares, net - value	3.7			4.7			$ (1)
Shares repurchased, shares							100,000
Shares repurchased	(2)						$ (2)
Stockholders' equity, other	(0.9)			(0.9)
Ending balance at Mar. 31, 2020	1,816		$ 0.5	1,690.5	152	(24)	$ (3)
Ending balance, shares at Mar. 31, 2020			48,300,000				100,000
Beginning balance at Dec. 31, 2020	1,892.2		$ 0.5	1,694.1	219.7	(22.1)	$ 0
Beginning balance, shares at Dec. 31, 2020			48,200,000				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15.9				15.9
Other comprehensive income (loss)	1					1
Dividends paid to common shareholders	(2.4)				(2.4)
Restricted shares, net - shares			0				0
Restricted shares, net - value	$ 4.6			5.3			$ (0.7)
Shares repurchased, shares	0
Ending balance at Mar. 31, 2021	$ 1,911.3	[1]	$ 0.5	$ 1,699.4	$ 233.2	$ (21.1)	$ (0.7)
Ending balance, shares at Mar. 31, 2021			48,200,000				0
Statement of Stockholders' Equity [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.01
[1]	(unaudited)

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Overview and Summary of Significant Accounting Policies Basis of Presentation Arcosa, Inc. and its consolidated subsidiaries (“Arcosa,” the “Company,” “we,” or “our”), headquartered in Dallas, Texas, is a provider of infrastructure-related products and solutions with leading brands serving construction, engineered structure, and transportation markets in North America. Arcosa is a Delaware corporation and was incorporated in 2018 in connection with the separation (the “Separation”) of Arcosa from Trinity Industries, Inc. (“Trinity” or “Former Parent”) on November 1, 2018 as an independent, publicly-traded company, listed on the New York Stock Exchange. The accompanying Consolidated Financial Statements are unaudited and have been prepared from the books and records of Arcosa, Inc. and its consolidated subsidiaries. All normal and recurring adjustments necessary for a fair presentation of the financial position of the Company and the results of operations, comprehensive income/loss, and cash flows have been made in conformity with accounting principles generally accepted in the U.S. (“GAAP”). All significant intercompany accounts and transactions have been eliminated. Because of seasonal and other factors, including the unknown potential duration, spread, severity, and impact of the COVID-19 pandemic, Arcosa's business, financial condition, and results of operations for the three months ended March 31, 2021 may not be indicative of Arcosa's expected business, financial condition, and results of operations for the year ending December 31, 2021. These interim financial statements and notes are condensed as permitted by the instructions to Form 10-Q and should be read in conjunction with the audited Consolidated and Combined Financial Statements of the Company included in its Annual Report on Form 10-K for the year ended December 31, 2020. Stockholders' Equity In December 2020, the Company’s Board of Directors (the “Board”) authorized a new $50 million share repurchase program effective January 1, 2021 through December 31, 2022. The new program replaced the previous program which expired on December 31, 2020. For the three months ended March 31, 2021, the Company repurchased no shares. As of March 31, 2021, the Company had a remaining authorization of $50.0 million under the program. Revenue Recognition Revenue is measured based on the allocation of the transaction price in a contract to satisfied performance obligations. The transaction price does not include any amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. The following is a description of principal activities from which the Company generates its revenue, separated by reportable segments. Payments for our products and services are generally due within normal commercial terms. For a further discussion regarding the Company’s reportable segments, see Note 4 Segment Information. Construction Products The Construction Products segment recognizes substantially all revenue when the customer has accepted the product and legal title of the product has passed to the customer. Engineered Structures Within the Engineered Structures segment, revenue is recognized for our wind tower, certain utility structure, and certain storage tank product lines over time as the products are manufactured using an input approach based on the costs incurred relative to the total estimated costs of production. We recognize revenue over time for these products as they are highly customized to the needs of an individual customer resulting in no alternative use to the Company if not purchased by the customer after the contract is executed, and we have the right to bill the customer for our work performed to date plus at least a reasonable profit margin for work performed. As of March 31, 2021, we had a contract asset of $39.6 million related to these contracts, compared to $82.8 million at December 31, 2020, which is included in receivables, net of allowance, within the Consolidated Balance Sheets. The decrease in the contract asset is attributed to large deliveries of finished structures to customers in the first quarter. For all other products, revenue is recognized when the customer has accepted the product and legal title of the product has passed to the customer. Transportation Products The Transportation Products segment recognizes revenue when the customer has accepted the product and legal title of the product has passed to the customer. Unsatisfied Performance Obligations The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially satisfied as of March 31, 2021 and the percentage of the outstanding performance obligations as of March 31, 2021 expected to be delivered during the remainder of 2021: Unsatisfied performance obligations at March 31, 2021 Total Percent expected to be delivered in 2021 (in millions) Engineered Structures: Utility, wind, and related structures $ 379.5 100 % Storage tanks $ 30.7 100 % Transportation Products: Inland barges $ 133.2 91 % Substantially all unsatisfied performance obligations beyond 2021 are expected to be delivered during 2022. Income Taxes The liability method is used to account for income taxes. Deferred income taxes represent the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Valuation allowances reduce deferred tax assets to an amount that will more likely than not be realized. The Company regularly evaluates the likelihood of realization of tax benefits derived from positions it has taken in various federal and state filings after consideration of all relevant facts, circumstances, and available information. For those tax positions that are deemed more likely than not to be sustained, the Company recognizes the benefit it believes is cumulatively greater than 50% likely to be realized. To the extent the Company were to prevail in matters for which accruals have been established or be required to pay amounts in excess of recorded reserves, the effective tax rate in a given financial statement period could be materially impacted. Financial Instruments The Company considers all highly liquid debt instruments to be cash and cash equivalents if purchased with a maturity of three months or less. Financial instruments that potentially subject the Company to a concentration of credit risk are primarily cash investments and receivables. The Company places its cash investments in bank deposits and highly-rated money market funds, and its investment policy limits the amount of credit exposure to any one commercial issuer. We seek to limit concentrations of credit risk with respect to receivables with control procedures that monitor the credit worthiness of customers, together with the large number of customers in the Company's customer base and their dispersion across different industries and geographic areas. As receivables are generally unsecured, the Company maintains an allowance for doubtful accounts based upon the expected credit losses. Receivable balances determined to be uncollectible are charged against the allowance. To accelerate the conversion to cash, the Company may sell a portion of its trade receivables to a third party. The Company has no continuing involvement or recourse related to these receivables once they are sold, and the impact of these transactions in the Company's Consolidated Statements of Operations for the three months ended March 31, 2021 was not significant. The carrying values of cash, receivables, and accounts payable are considered to be representative of their respective fair values. Derivative Instruments The Company may, from time to time, use derivative instruments to mitigate the impact of changes in interest rates, commodity prices, or changes in foreign currency exchange rates. For derivative instruments designated as hedges, the Company formally documents the relationship between the derivative instrument and the hedged item, as well as the risk management objective and strategy for the use of the derivative instrument. This documentation includes linking the derivative to specific assets or liabilities on the balance sheet, commitments, or forecasted transactions. At the time a derivative instrument is entered into, and at least quarterly thereafter, the Company assesses whether the derivative instrument is effective in offsetting the changes in fair value or cash flows of the hedged item. Any change in the fair value of the hedged instrument is recorded in accumulated other comprehensive loss (“AOCL”) as a separate component of stockholders' equity and reclassified into earnings in the period during which the hedged transaction affects earnings. The Company monitors its derivative positions and the credit ratings of its counterparties and does not anticipate losses due to counterparties' non-performance. Recent Accounting Pronouncements Recently adopted accounting pronouncements Effective as of January 1, 2020, the Company adopted Accounting Standards Update No. 2016-13, “Financial Instruments - Credit Losses”, (“ASU 2016-13”), which amends the existing accounting guidance for recognizing credit losses on financial assets and certain other instruments not measured at fair value through net income, including financial assets measured at amortized cost, such as trade receivables and contract assets. ASU 2016-13 replaces the existing incurred loss impairment model with an expected credit loss model that requires consideration of a broader range of information to estimate expected credit losses over the lifetime of the asset. The adoption of this guidance did not have a material effect on the Company’s Consolidated Financial Statements. Effective as of January 1, 2021, the Company adopted Accounting Standards Updated No. 2019-12, “Simplifying the Accounting for Income Taxes”, (“ASU 2019-12”), which simplifies the accounting for income taxes by removing certain exceptions to the general principles for income taxes. The adoption of this guidance did not have a material effect on the Company’s Consolidated Financial Statements. Recently issued accounting pronouncements not adopted as of March 31, 2021 In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2020-04, “Reference Rate Reform” (“ASU 2020-04”) which provides optional guidance for contract modifications, hedging accounting, and other transactions associated with the transition from reference rates that are expected to be discontinued. ASU 2020-04 is effective for all entities upon issuance through December 31, 2022. We are still evaluating the impact of adoption, but do not expect the guidance to have a material impact on our Consolidated Financial Statements.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures 2021 Acquisitions On April 9, 2021, we completed the stock acquisition of StonePoint Ultimate Holding, LLC and affiliated entities (collectively “StonePoint”), a top 25 U.S. construction aggregates company, which will be included in our Construction Products segment for a total purchase price of approximately $375 million. The acquisition will be recorded as a business combination and was funded with proceeds from a private offering of $400.0 million of 4.375% senior unsecured notes that closed on April 6, 2021. See Note 7 Debt for additional information. 2020 Acquisitions On January 6, 2020, we completed the stock acquisition of Cherry Industries, Inc. and affiliated entities (collectively “Cherry”), a leading producer of natural and recycled aggregates in the Houston, Texas market, which is included in our Construction Products segment. The purchase price of $296.8 million was funded with a combination of cash on-hand, advances under a new $150.0 million five-year term loan, and future payments to the seller for a net cash paid of $284.1 million during the three months ended March 31, 2020. See Note 7 Debt for additional information on our credit facility. Non-recurring transaction and integration costs incurred related to the Cherry acquisition were approximately $0.9 million during the three months ended March 31, 2020. The acquisition was recorded as a business combination with valuations of the assets acquired and liabilities at their acquisition date fair value using level three inputs, defined as unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. The following table represents our final purchase price allocation: (in millions) Accounts receivable $ 30.5 Inventories 11.8 Property, plant, and equipment 58.8 Mineral reserves 17.2 Goodwill 133.3 Customer relationships 62.1 Permits 25.4 Other assets 4.3 Accounts payable (7.5) Accrued liabilities (4.9) Deferred taxes (32.7) Other liabilities (1.5) Total net assets acquired $ 296.8 The goodwill acquired, none of which is tax deductible, primarily relates to Cherry's market position and existing workforce. The customer relationship intangibles and permits were assigned weighted average useful lives of 14.9 years and 19.8 years, respectively. Revenues and operating profit included in the Consolidated Statement of Operations from the date of the acquisition were approximately $43.8 million and $5.7 million, respectively, during the three months ended March 31, 2020. The following table represents the unaudited pro-forma consolidated operating results of the Company as if the Cherry acquisition had been completed on January 1, 2019. The unaudited pro-forma information makes certain adjustments to depreciation, depletion, and amortization expense to reflect the fair value recognized in the purchase price allocation, removes one-time transaction related costs, and aligns the Company's debt financing with that as of the acquisition date. The unaudited pro-forma information should not be considered indicative of the results that would have occurred if the acquisition had been completed on January 1, 2019, nor is such unaudited pro-forma information necessarily indicative of future results. Three Months Ended Year Ended (in millions) Revenues $ 488.2 $ 1,916.9 Income before income taxes $ 44.4 $ 163.8 In March 2020, we completed the acquisition of certain assets and liabilities of a traffic structures business in our Engineered Structures segment for a total purchase price of $25.5 million. The acquisition was recorded as a business combination based on valuations of the assets acquired and liabilities assumed at their acquisition date fair value using level three inputs. The valuation resulted in the recognition of $10.0 million of goodwill in our Engineered Structures segment. Such assets and liabilities were not significant in relation to assets and liabilities at the consolidated or segment level. In June 2020, we completed the acquisition of certain assets and liabilities of a concrete poles business in our Engineered Structures segment. The purchase price of the acquisition was not significant. In July 2020, we completed the acquisition of certain assets and liabilities of a telecommunication structures business in our Engineered Structures segment for a total purchase price of $27.8 million. The acquisition was recorded as a business combination based on valuations of the assets acquired and liabilities assumed at their acquisition date fair value using level three inputs. The valuation resulted in the recognition of $8.5 million of goodwill in our Engineered Structures segment. Such assets and liabilities were not significant in relation to assets and liabilities at the consolidated or segment level. In August 2020, we completed the acquisition of certain assets and liabilities of a natural aggregates business in our Construction Products segment for a total purchase price of $25.8 million. The acquisition was recorded as a business combination based on valuations of the assets acquired and liabilities assumed at their acquisition date fair value using level three inputs. The valuation resulted in the recognition of $8.7 million of goodwill in our Construction Products segment. Such assets and liabilities were not significant in relation to assets and liabilities at the consolidated or segment level. In October 2020, we completed the stock acquisition of Strata Materials, LLC (“Strata”), a leading provider of natural and recycled aggregates in the Dallas-Fort Worth, Texas area, which is included in our Construction Products segment for a total purchase price of $87.0 million. The acquisition was recorded as a business combination based on valuations of the assets acquired and liabilities assumed at their acquisition date fair value using level three inputs. The preliminary valuation resulted in the recognition of $51.6 million of permits with an initial weighted average useful life of 22.8 years and $4.0 million of goodwill in our Construction Products segment. The remaining assets and liabilities were not significant in relation to assets and liabilities at the consolidated or segment level. Adjustments to the preliminary purchase price allocation could be material to the purchase price allocation, particularly with respect to our preliminary estimates of identified intangible assets. In October 2020, we also completed the acquisition of certain assets and liabilities of a traffic structures business in our Engineered Structures segment. The purchase price of the acquisition was not significant. Divestitures There was no divestiture activity for the three months ended March 31, 2021 and 2020.

Fair Value Accounting

Fair Value Accounting	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Accounting	Fair Value AccountingAssets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurement as of March 31, 2021 Level 1 Level 2 Level 3 Total (in millions) Assets: Cash equivalents $ 50.0 $ — $ — $ 50.0 Total assets $ 50.0 $ — $ — $ 50.0 Liabilities: Interest rate hedge (1) $ — $ 6.3 $ — $ 6.3 Contingent consideration (2) — — 9.2 9.2 Total liabilities $ — $ 6.3 $ 9.2 $ 15.5 Fair Value Measurement as of December 31, 2020 Level 1 Level 2 Level 3 Total (in millions) Assets: Cash equivalents $ 27.1 $ — $ — $ 27.1 Total assets $ 27.1 $ — $ — $ 27.1 Liabilities: Interest rate hedge (1) $ — $ 7.3 $ — $ 7.3 Contingent consideration (2) — — 9.8 9.8 Total liabilities $ — $ 7.3 $ 9.8 $ 17.1 (1) Included in other liabilities on the Consolidated Balance Sheets. (2) Current portion included in accrued liabilities and non-current portion included in other liabilities on the Consolidated Balance Sheets. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for that asset or liability in an orderly transaction between market participants on the measurement date. An entity is required to establish a fair value hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair values are listed below: Level 1 – This level is defined as quoted prices in active markets for identical assets or liabilities. The Company’s cash equivalents are instruments of the U.S. Treasury or highly-rated money market mutual funds. Level 2 – This level is defined as observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Interest rate hedges are valued at exit prices obtained from each counterparty. See Note 7 Debt. Level 3 – This level is defined as unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Contingent consideration relates to estimated future payments owed to the sellers of businesses previously acquired. We estimate the fair value of the contingent consideration using a discounted cash flow model. The fair value is sensitive to changes in the forecast of sales and changes in discount rates and is reassessed quarterly based on assumptions used in our latest projections.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information The Company reports operating results in three principal business segments: Construction Products. The Construction Products segment produces and sells construction aggregates, including natural and recycled aggregates and specialty materials, and manufactures and sells trench shields and shoring products and services for infrastructure-related projects. Engineered Structures. The Company renamed this segment as of December 31, 2020 from Energy Equipment to better reflect the products delivered. There have been no changes to the businesses that have historically comprised this segment. The Engineered Structures segment manufactures and sells engineered structures primarily for infrastructure businesses, including utility structures for electricity transmission and distribution, structural wind towers, traffic structures, and telecommunication structures. These products share similar manufacturing competencies and steel sourcing requirements, and can be manufactured across our North American footprint. The segment also manufactures storage and distribution tanks. Transportation Products. The Transportation Products segment manufactures and sells products for the inland waterway and rail transportation industries including barges, barge-related products, axles, and couplers. The financial information for these segments is shown in the tables below. We operate principally in North America. Three Months Ended March 31, Revenues Operating Profit (Loss) 2021 2020 2021 2020 (in millions) Aggregates and specialty materials $ 135.3 $ 132.1 Other 17.9 17.3 Construction Products 153.2 149.4 $ 15.8 $ 16.8 Utility, wind, and related structures 164.0 176.4 Storage tanks 43.0 46.8 Engineered Structures 207.0 223.2 17.5 24.9 Inland barges 57.9 89.0 Steel components 22.3 28.0 Transportation Products 80.2 117.0 4.1 14.3 Segment Totals before Eliminations and Corporate 440.4 489.6 37.4 56.0 Corporate — — (14.5) (10.9) Eliminations — (1.4) — — Consolidated Total $ 440.4 $ 488.2 $ 22.9 $ 45.1

Property, Plant, and Equipment

Property, Plant, and Equipment	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment	Property, Plant, and Equipment The following table summarizes the components of property, plant, and equipment as of March 31, 2021 and December 31, 2020. March 31, December 31, (in millions) Land $ 139.9 $ 139.2 Mineral reserves 247.7 249.9 Buildings and improvements 306.9 302.3 Machinery and other 858.7 853.6 Construction in progress 56.1 49.6 1,609.3 1,594.6 Less accumulated depreciation and depletion (704.1) (681.3) $ 905.2 $ 913.3

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill Goodwill by segment is as follows: March 31, December 31, (in millions) Construction Products $ 316.5 $ 320.0 Engineered Structures 437.8 437.0 Transportation Products 37.0 37.0 $ 791.3 $ 794.0 The decrease in Construction Products goodwill during the three months ended March 31, 2021 is primarily due to a refinement of the purchase price allocation of a recent acquisition. The increase in Engineered Structures goodwill during the three months ended March 31, 2021 is due to a refinement of the purchase price allocation of a recent acquisition. See Note 2 Acquisitions and Divestitures. Intangible Assets Intangibles, net consisted of the following: March 31, December 31, (in millions) Intangibles with indefinite lives - Trademarks $ 34.1 $ 34.1 Intangibles with definite lives: Customer relationships 123.7 123.8 Permits 77.0 73.6 Other 8.0 8.1 208.7 205.5 Less accumulated amortization (31.1) (26.7) 177.6 178.8 Intangible assets, net $ 211.7 $ 212.9

Debt

Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes the components of debt as of March 31, 2021 and December 31, 2020: March 31, December 31, (in millions) Revolving credit facility $ 100.0 $ 100.0 Term loan 148.1 149.1 Finance leases 8.0 5.6 256.1 254.7 Less: unamortized debt issuance costs (0.2) (0.2) Total debt $ 255.9 $ 254.5 Revolving Credit Facility and Term Loan On November 1, 2018, the Company entered into a $400.0 million unsecured revolving credit facility that was scheduled to mature in November 2023. On January 2, 2020, the Company entered into an Amended and Restated Credit Agreement to increase the revolving credit facility to $500.0 million and add a term loan facility of $150.0 million, in each case with a maturity date of January 2, 2025. The entire term loan was advanced on January 2, 2020 in connection with the closing of the acquisition of Cherry. See Note 2 Acquisitions and Divestitures. As of March 31, 2021, the term loan had a remaining balance of $148.1 million . The interest rates under the revolving credit facility and term loan are variable based on LIBOR or an alternate base rate plus a margin. A commitment fee accrues on the average daily unused portion of the revolving facility. The margin for borrowing and commitment fee rate are determined based on the Company’s leverage as measured by a consolidated total indebtedness to consolidated EBITDA ratio. The margin for borrowing ranges from 1.25% to 2.00% and was set at LIBOR plus 1.25% as of March 31, 2021. The commitment fee rate ranges from 0.20% to 0.35% and was set at 0.20% at March 31, 2021. As of March 31, 2021, we had $100.0 million of outstanding loans borrowed under the revolving credit facility, and there were approximately $28.7 million of letters of credit issued, leaving $371.3 million available. Of the outstanding letters of credit as of March 31, 2021, $25.1 million are expected to expire in 2021, with the remainder in 2022. The majority of our letters of credit obligations support the Company’s various insurance programs and generally renew by their terms each year. The Company's revolving credit and term loan facilities require the maintenance of certain ratios related to leverage and interest coverage. As of March 31, 2021, we were in compliance with all such financial covenants. Borrowings under the credit agreement are guaranteed by certain wholly-owned subsidiaries of the Company. In order to increase liquidity in anticipation of the acquisition of StonePoint, the Company entered into an unsecured 364-Day Credit Agreement on March 26, 2021 providing for a revolving line of credit of $150.0 million, with an outside maturity date of March 25, 2022. Pricing, covenants, and guarantees were substantially similar to the Company’s existing revolving credit and term loan facilities. Per the terms of the facility, it terminated on April 6, 2021 upon the closing of the Company’s private offering of $400.0 million in senior notes. The carrying value of borrowings under our revolving credit and term loan facilities approximate fair value because the interest rate adjusts to the market interest rate (Level 3 input). See Note 3 Fair Value Accounting. As of March 31, 2021, the Company had $1.6 million of unamortized debt issuance costs related to the revolving credit facility, which are included in other assets on the Consolidated Balance Sheet. The remaining principal payments under existing debt agreements as of March 31, 2021 are as follows: 2021 2022 2023 2024 2025 Thereafter (in millions) Revolving credit facility $ — $ — $ — $ — $ 100.0 $ — Term loan 3.7 7.5 8.5 8.4 120.0 — Senior Notes On April 6, 2021, the Company issued $400.0 million aggregate principal amount of 4.375% senior notes (the “Notes”) that mature in April 2029. Interest on the Notes is payable semiannually commencing October 2021. The Notes are senior unsecured obligations of the Company and are guaranteed on a senior unsecured basis by each of the Company’s domestic subsidiaries that is a guarantor under our revolving credit and term loan facilities. The terms of the indenture governing the Notes, among other things, limit the ability of the Company and each of its subsidiaries to create liens on assets, enter into sale and leaseback transactions, and consolidate, merge or transfer all or substantially all of its assets and the assets of its subsidiaries. The terms of the Indenture also limit the ability of the Company’s non-guarantor subsidiaries to incur certain types of debt. At any time prior to April 15, 2024, the Company may redeem all or a portion of the Notes at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus an applicable make-whole premium and accrued and unpaid interest to the redemption date. On and after April 15, 2024, the Company may redeem all or a portion of the Notes at redemption prices set forth in the indenture, plus accrued and unpaid interest to the redemption date. If a Change of Control Triggering Event (as defined in the indenture) occurs, the Company must offer to repurchase the Senior Notes at a price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest to the date of repurchase. The remaining principal payments under all debt agreements, including the Notes issued on April 6, 2021, are as follows: 2021 2022 2023 2024 2025 2029 (in millions) Senior notes $ — $ — $ — $ — $ — $ 400.0 Revolving credit facility — — — — 100.0 — Term loan 3.7 7.5 8.5 8.4 120.0 — Interest rate hedges In December 2018, the Company entered into an interest rate swap instrument, effective as of January 2, 2019 and expiring in 2023, to reduce the effect of changes in the variable interest rates associated with borrowings under the Amended and Restated Credit Agreement. The instrument carried an initial notional amount of $100 million, thereby hedging the first $100 million of borrowings. The instrument effectively fixes the LIBOR component of borrowings at a monthly rate of 2.71%. As of March 31, 2021, the Company has recorded a liability of $6.3 million for the fair value of the instrument, all of which is recorded in accumulated other comprehensive loss. See Note 3 Fair Value Accounting.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	Leases We have various leases primarily for office space and certain equipment. At inception, we determine if an arrangement contains a lease and whether that lease meets the classification criteria of a finance or operating lease. For leases that contain options to purchase, terminate, or extend, such options are included in the lease term when it is reasonably certain that the option will be exercised. Some of our lease arrangements contain lease components and non-lease components which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on information available at commencement date in determining the present value of lease payments. Operating Leases The following tables present information about the Company's operating leases as of March 31, 2021: March 31, 2021 (in millions) Maturity of Lease Liabilities 2021 (remaining) $ 3.8 2022 3.7 2023 2.8 2024 2.5 2025 2.2 Thereafter 8.9 Total undiscounted operating lease payments 23.9 Less imputed interest (4.3) Present value of operating lease liabilities $ 19.6 Balance Sheet Classification March 31, December 31, (in millions) Other assets $ 16.2 $ 17.9 Accrued liabilities 4.0 4.8 Other liabilities 15.6 16.4 Total operating lease liabilities $ 19.6 $ 21.2 Finance Leases Finance leases are included in property, plant, and equipment, net and debt on the Consolidated Balance Sheets. The associated amortization expense and interest expense are included in depreciation and interest expense, respectively, on the Consolidated Statements of Operations. These leases are not material to the Consolidated Financial Statements as of March 31, 2021.

Other, Net

Other, Net	3 Months Ended
	Mar. 31, 2021
Other Income and Expenses [Abstract]
Other, Net	Other, Net Other, net (income) expense consists of the following items: Three Months Ended 2021 2020 (in millions) Interest income $ — $ (0.2) Foreign currency exchange transactions 0.6 — Other (0.1) — Other, net (income) expense $ 0.5 $ (0.2)

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim income tax reporting, we estimate our annual effective tax rate and apply it to our year to date ordinary income (loss). Tax jurisdictions with a projected or year to date loss for which a tax benefit cannot be realized are excluded. The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur. We have open tax years from 2014 to 2019 with various significant tax jurisdictions. Our effective tax rates of 21.7% and 24.8% for the three months ended March 31, 2021 and 2020, respectively, differ from the U.S. federal statutory rate of 21.0% due to state income taxes, statutory depletion deductions, nondeductible expenses related to acquisitions, and foreign nondeductible expenses.

Employee Retirement Plans

Employee Retirement Plans	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Employee Retirement Plans	Employee Retirement Plans Total employee retirement plan expense, which includes related administrative expenses, is as follows: Three Months Ended 2021 2020 (in millions) Defined contribution plans $ 2.7 $ 2.6 Multiemployer plan 0.4 0.4 $ 3.1 $ 3.0 The Company contributes to a multiemployer defined benefit plan under the terms of a collective-bargaining agreement that covers certain union-represented employees at one of the facilities of Meyer Utility Structures, a subsidiary of Arcosa. The Company contributed $0.4 million to the multiemployer plan for the three months ended March 31, 2021 and 2020. Total contributions to the multiemployer plan for 2021 are expected to be approximately $1.7 million.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss for the three months ended March 31, 2021 and 2020 are as follows: Currency Unrealized Accumulated (in millions) Balances at December 31, 2019 $ (16.3) $ (3.4) $ (19.7) Other comprehensive income (loss), net of tax, before reclassifications (1.1) (3.4) (4.5) Amounts reclassified from accumulated other comprehensive loss, net of tax expense (benefit) of $0.0, ($0.1), and ($0.1) — 0.2 0.2 Other comprehensive income (loss) (1.1) (3.2) (4.3) Balances at March 31, 2020 $ (17.4) $ (6.6) $ (24.0) Balances at December 31, 2020 $ (16.6) $ (5.5) $ (22.1) Other comprehensive income (loss), net of tax, before reclassifications 0.1 0.5 0.6 Amounts reclassified from accumulated other comprehensive loss, net of tax expense (benefit) of $0.0, ($0.1), and ($0.1) — 0.4 0.4 Other comprehensive income (loss) 0.1 0.9 1.0 Balances at March 31, 2021 $ (16.5) $ (4.6) $ (21.1)

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based CompensationStock-based compensation totaled approximately $4.7 million and $3.7 million for the three months ended March 31, 2021 and 2020, respectively.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings Per Common Share Basic earnings per common share is computed by dividing net income remaining after allocation to unvested restricted shares, which includes unvested restricted shares of Arcosa stock held by employees of the Former Parent, by the weighted average number of basic common shares outstanding for the period. Except when the effect would be antidilutive, the calculation of diluted earnings per common share includes the weighted average net impact of nonparticipating unvested restricted shares. Total weighted average restricted shares were 1.8 million and 1.5 million shares for the three months ended March 31, 2021 and 2020, respectively. The computation of basic and diluted earnings per share follows. Three Months Ended Three Months Ended Income Average EPS Income Average EPS (in millions, except per share amounts) Net income $ 15.9 $ 31.6 Unvested restricted share participation (0.1) (0.3) Net income per common share – basic 15.8 48.0 $ 0.33 31.3 47.8 $ 0.65 Effect of dilutive securities: Nonparticipating unvested restricted shares — 0.8 — 0.6 Net income per common share – diluted $ 15.8 48.8 $ 0.32 $ 31.3 48.4 $ 0.65

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies The Company is involved in claims and lawsuits incidental to our business arising from various matters including commercial disputes, alleged product defect and/or warranty claims, intellectual property matters, personal injury claims, environmental issues, employment and/or workplace-related matters, and various governmental regulations. At March 31, 2021, the range of reasonably possible losses for such matters, taking into consideration our rights in indemnity and recourse to third parties is $0.3 million to $0.4 million. The Company evaluates its exposure to such claims and suits periodically and establishes accruals for these contingencies when probable losses can be reasonably estimated. At March 31, 2021, total accruals of $1.1 million are included in accrued liabilities in the accompanying Consolidated Balance Sheet. The Company believes any additional liability from such claims and suits would not be material to its financial position or results of operations. Arcosa is subject to remedial orders and federal, state, local, and foreign laws and regulations relating to the environment. The Company has reserved $1.1 million as of March 31, 2021 to cover our probable and estimable liabilities with respect to the investigations, assessments, and remedial responses to such matters, taking into account currently available information and our contractual rights to indemnification and recourse to third parties. On July 22, 2019, the Company was served with a breach of contract lawsuit filed by Thomas & Betts Corporation (“T&B”) against the Company and its wholly-owned subsidiary, Trinity Meyer Utility Structures, LLC, now known as Meyer Utility Structures, LLC (“Meyer”), in the Supreme Court of the State of New York, New York County. T&B’s claims relate to responsibility for alleged product warranty claims pursuant to the terms of the Asset Purchase Agreement, dated June 24, 2014, entered into by and between T&B and Meyer with respect to Meyer’s purchase of certain assets of T&B’s utility structure business. The Company and Meyer subsequently removed the litigation to federal court. The case is filed under Case No. 1:19-cv-07829-PAE; Thomas & Betts Corporation, now known as, ABB Installation Products, Inc., Plaintiff, v. Trinity Meyer Utility Structures, LLC, formerly known as McKinley 2014 Acquisition, LLC, and Arcosa, Inc., Defendants; In the United States District Court for the Southern District of New York (the "Court"). The Company and Meyer have filed a motion to dismiss T&B’s claims, and an Answer and Counterclaims against T&B. On July 30, 2020, the Court granted the Company's and Meyer's motion and dismissed T&B's claims. In its ruling, the Court likewise dismissed Meyer's counterclaims. On August 28, 2020, T&B filed its Notice of Appeal to the United States Court of Appeals for the Second Circuit. On November 9, 2020, T&B filed its Appellant’s Brief with the Appellate Court. The Company and Meyer filed its Appellees’ Brief on February 8, 2021. T&B filed its Reply Brief on April 9, 2021. We intend to vigorously defend ourselves in the subsequent appeal of this matter. Based on the facts and circumstances currently known to the Company, (i) we cannot determine that a loss is probable at this time, and therefore no accrual has been included in the accompanying Consolidated Financial Statements; and (ii) a possible loss is not reasonably estimable.

Overview and Summary of Signifi

Overview and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Arcosa, Inc. and its consolidated subsidiaries (“Arcosa,” the “Company,” “we,” or “our”), headquartered in Dallas, Texas, is a provider of infrastructure-related products and solutions with leading brands serving construction, engineered structure, and transportation markets in North America. Arcosa is a Delaware corporation and was incorporated in 2018 in connection with the separation (the “Separation”) of Arcosa from Trinity Industries, Inc. (“Trinity” or “Former Parent”) on November 1, 2018 as an independent, publicly-traded company, listed on the New York Stock Exchange. The accompanying Consolidated Financial Statements are unaudited and have been prepared from the books and records of Arcosa, Inc. and its consolidated subsidiaries. All normal and recurring adjustments necessary for a fair presentation of the financial position of the Company and the results of operations, comprehensive income/loss, and cash flows have been made in conformity with accounting principles generally accepted in the U.S. (“GAAP”). All significant intercompany accounts and transactions have been eliminated. Because of seasonal and other factors, including the unknown potential duration, spread, severity, and impact of the COVID-19 pandemic, Arcosa's business, financial condition, and results of operations for the three months ended March 31, 2021 may not be indicative of Arcosa's expected business, financial condition, and results of operations for the year ending December 31, 2021. These interim financial statements and notes are condensed as permitted by the instructions to Form 10-Q and should be read in conjunction with the audited Consolidated and Combined Financial Statements of the Company included in its Annual Report on Form 10-K for the year ended December 31, 2020.
Stockholders' Equity	Stockholders' Equity In December 2020, the Company’s Board of Directors (the “Board”) authorized a new $50 million share repurchase program effective January 1, 2021 through December 31, 2022. The new program replaced the previous program which expired on December 31, 2020. For the three months ended March 31, 2021, the Company repurchased no shares. As of March 31, 2021, the Company had a remaining authorization of $50.0 million under the program.
Revenue Recognition	Revenue Recognition Revenue is measured based on the allocation of the transaction price in a contract to satisfied performance obligations. The transaction price does not include any amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. The following is a description of principal activities from which the Company generates its revenue, separated by reportable segments. Payments for our products and services are generally due within normal commercial terms. For a further discussion regarding the Company’s reportable segments, see Note 4 Segment Information. Construction Products The Construction Products segment recognizes substantially all revenue when the customer has accepted the product and legal title of the product has passed to the customer. Engineered Structures Within the Engineered Structures segment, revenue is recognized for our wind tower, certain utility structure, and certain storage tank product lines over time as the products are manufactured using an input approach based on the costs incurred relative to the total estimated costs of production. We recognize revenue over time for these products as they are highly customized to the needs of an individual customer resulting in no alternative use to the Company if not purchased by the customer after the contract is executed, and we have the right to bill the customer for our work performed to date plus at least a reasonable profit margin for work performed. As of March 31, 2021, we had a contract asset of $39.6 million related to these contracts, compared to $82.8 million at December 31, 2020, which is included in receivables, net of allowance, within the Consolidated Balance Sheets. The decrease in the contract asset is attributed to large deliveries of finished structures to customers in the first quarter. For all other products, revenue is recognized when the customer has accepted the product and legal title of the product has passed to the customer. Transportation Products The Transportation Products segment recognizes revenue when the customer has accepted the product and legal title of the product has passed to the customer. Unsatisfied Performance Obligations The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially satisfied as of March 31, 2021 and the percentage of the outstanding performance obligations as of March 31, 2021 expected to be delivered during the remainder of 2021: Unsatisfied performance obligations at March 31, 2021 Total Percent expected to be delivered in 2021 (in millions) Engineered Structures: Utility, wind, and related structures $ 379.5 100 % Storage tanks $ 30.7 100 % Transportation Products: Inland barges $ 133.2 91 %
Income Tax	Income Taxes The liability method is used to account for income taxes. Deferred income taxes represent the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Valuation allowances reduce deferred tax assets to an amount that will more likely than not be realized. The Company regularly evaluates the likelihood of realization of tax benefits derived from positions it has taken in various federal and state filings after consideration of all relevant facts, circumstances, and available information. For those tax positions that are deemed more likely than not to be sustained, the Company recognizes the benefit it believes is cumulatively greater than 50% likely to be realized. To the extent the Company were to prevail in matters for which accruals have been established or be required to pay amounts in excess of recorded reserves, the effective tax rate in a given financial statement period could be materially impacted.
Cash and Cash Equivalents	Financial InstrumentsThe Company considers all highly liquid debt instruments to be cash and cash equivalents if purchased with a maturity of three months or less.
Concentration of Credit Risk	Financial instruments that potentially subject the Company to a concentration of credit risk are primarily cash investments and receivables. The Company places its cash investments in bank deposits and highly-rated money market funds, and its investment policy limits the amount of credit exposure to any one commercial issuer. We seek to limit concentrations of credit risk with respect to receivables with control procedures that monitor the credit worthiness of customers, together with the large number of customers in the Company's customer base and their dispersion across different industries and geographic areas. As receivables are generally unsecured, the Company maintains an allowance for doubtful accounts based upon the expected credit losses. Receivable balances determined to be uncollectible are charged against the allowance. To accelerate the conversion to cash, the Company may sell a portion of its trade receivables to a third party. The Company has no continuing involvement or recourse related to these receivables once they are sold, and the impact of these transactions in the Company's Consolidated Statements of Operations for the three months ended March 31, 2021 was not significant. The carrying values of cash, receivables, and accounts payable are considered to be representative of their respective fair values.
Derivative Instruments	Derivative Instruments The Company may, from time to time, use derivative instruments to mitigate the impact of changes in interest rates, commodity prices, or changes in foreign currency exchange rates. For derivative instruments designated as hedges, the Company formally documents the relationship between the derivative instrument and the hedged item, as well as the risk management objective and strategy for the use of the derivative instrument. This documentation includes linking the derivative to specific assets or liabilities on the balance sheet, commitments, or forecasted transactions. At the time a derivative instrument is entered into, and at least quarterly thereafter, the Company assesses whether the derivative instrument is effective in offsetting the changes in fair value or cash flows of the hedged item. Any change in the fair value of the hedged instrument is recorded in accumulated other comprehensive loss (“AOCL”) as a separate component of stockholders' equity and reclassified into earnings in the period during which the hedged transaction affects earnings. The Company monitors its derivative positions and the credit ratings of its counterparties and does not anticipate losses due to counterparties' non-performance.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently adopted accounting pronouncements Effective as of January 1, 2020, the Company adopted Accounting Standards Update No. 2016-13, “Financial Instruments - Credit Losses”, (“ASU 2016-13”), which amends the existing accounting guidance for recognizing credit losses on financial assets and certain other instruments not measured at fair value through net income, including financial assets measured at amortized cost, such as trade receivables and contract assets. ASU 2016-13 replaces the existing incurred loss impairment model with an expected credit loss model that requires consideration of a broader range of information to estimate expected credit losses over the lifetime of the asset. The adoption of this guidance did not have a material effect on the Company’s Consolidated Financial Statements. Effective as of January 1, 2021, the Company adopted Accounting Standards Updated No. 2019-12, “Simplifying the Accounting for Income Taxes”, (“ASU 2019-12”), which simplifies the accounting for income taxes by removing certain exceptions to the general principles for income taxes. The adoption of this guidance did not have a material effect on the Company’s Consolidated Financial Statements. Recently issued accounting pronouncements not adopted as of March 31, 2021 In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2020-04, “Reference Rate Reform” (“ASU 2020-04”) which provides optional guidance for contract modifications, hedging accounting, and other transactions associated with the transition from reference rates that are expected to be discontinued. ASU 2020-04 is effective for all entities upon issuance through December 31, 2022. We are still evaluating the impact of adoption, but do not expect the guidance to have a material impact on our Consolidated Financial Statements.

Overview and Summary of Signi_2

Overview and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Unsatisfied Performance Obligations	Unsatisfied Performance Obligations The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially satisfied as of March 31, 2021 and the percentage of the outstanding performance obligations as of March 31, 2021 expected to be delivered during the remainder of 2021: Unsatisfied performance obligations at March 31, 2021 Total Percent expected to be delivered in 2021 (in millions) Engineered Structures: Utility, wind, and related structures $ 379.5 100 % Storage tanks $ 30.7 100 % Transportation Products: Inland barges $ 133.2 91 %

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Purchase Price Allocation	The following table represents our final purchase price allocation: (in millions) Accounts receivable $ 30.5 Inventories 11.8 Property, plant, and equipment 58.8 Mineral reserves 17.2 Goodwill 133.3 Customer relationships 62.1 Permits 25.4 Other assets 4.3 Accounts payable (7.5) Accrued liabilities (4.9) Deferred taxes (32.7) Other liabilities (1.5) Total net assets acquired $ 296.8
Business Acquisition, Pro Forma Information	The following table represents the unaudited pro-forma consolidated operating results of the Company as if the Cherry acquisition had been completed on January 1, 2019. The unaudited pro-forma information makes certain adjustments to depreciation, depletion, and amortization expense to reflect the fair value recognized in the purchase price allocation, removes one-time transaction related costs, and aligns the Company's debt financing with that as of the acquisition date. The unaudited pro-forma information should not be considered indicative of the results that would have occurred if the acquisition had been completed on January 1, 2019, nor is such unaudited pro-forma information necessarily indicative of future results. Three Months Ended Year Ended (in millions) Revenues $ 488.2 $ 1,916.9 Income before income taxes $ 44.4 $ 163.8

Fair Value Accounting (Tables)

Fair Value Accounting (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on recurring basis	Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurement as of March 31, 2021 Level 1 Level 2 Level 3 Total (in millions) Assets: Cash equivalents $ 50.0 $ — $ — $ 50.0 Total assets $ 50.0 $ — $ — $ 50.0 Liabilities: Interest rate hedge (1) $ — $ 6.3 $ — $ 6.3 Contingent consideration (2) — — 9.2 9.2 Total liabilities $ — $ 6.3 $ 9.2 $ 15.5 Fair Value Measurement as of December 31, 2020 Level 1 Level 2 Level 3 Total (in millions) Assets: Cash equivalents $ 27.1 $ — $ — $ 27.1 Total assets $ 27.1 $ — $ — $ 27.1 Liabilities: Interest rate hedge (1) $ — $ 7.3 $ — $ 7.3 Contingent consideration (2) — — 9.8 9.8 Total liabilities $ — $ 7.3 $ 9.8 $ 17.1 (1) Included in other liabilities on the Consolidated Balance Sheets. (2) Current portion included in accrued liabilities and non-current portion included in other liabilities on the Consolidated Balance Sheets.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Financial information for segments	The financial information for these segments is shown in the tables below. We operate principally in North America. Three Months Ended March 31, Revenues Operating Profit (Loss) 2021 2020 2021 2020 (in millions) Aggregates and specialty materials $ 135.3 $ 132.1 Other 17.9 17.3 Construction Products 153.2 149.4 $ 15.8 $ 16.8 Utility, wind, and related structures 164.0 176.4 Storage tanks 43.0 46.8 Engineered Structures 207.0 223.2 17.5 24.9 Inland barges 57.9 89.0 Steel components 22.3 28.0 Transportation Products 80.2 117.0 4.1 14.3 Segment Totals before Eliminations and Corporate 440.4 489.6 37.4 56.0 Corporate — — (14.5) (10.9) Eliminations — (1.4) — — Consolidated Total $ 440.4 $ 488.2 $ 22.9 $ 45.1

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Components of property, plant, and equipment	The following table summarizes the components of property, plant, and equipment as of March 31, 2021 and December 31, 2020. March 31, December 31, (in millions) Land $ 139.9 $ 139.2 Mineral reserves 247.7 249.9 Buildings and improvements 306.9 302.3 Machinery and other 858.7 853.6 Construction in progress 56.1 49.6 1,609.3 1,594.6 Less accumulated depreciation and depletion (704.1) (681.3) $ 905.2 $ 913.3

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill by segment	Goodwill by segment is as follows: March 31, December 31, (in millions) Construction Products $ 316.5 $ 320.0 Engineered Structures 437.8 437.0 Transportation Products 37.0 37.0 $ 791.3 $ 794.0
Intangible Assets, Net	Intangibles, net consisted of the following: March 31, December 31, (in millions) Intangibles with indefinite lives - Trademarks $ 34.1 $ 34.1 Intangibles with definite lives: Customer relationships 123.7 123.8 Permits 77.0 73.6 Other 8.0 8.1 208.7 205.5 Less accumulated amortization (31.1) (26.7) 177.6 178.8 Intangible assets, net $ 211.7 $ 212.9

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Components of debt	The following table summarizes the components of debt as of March 31, 2021 and December 31, 2020: March 31, December 31, (in millions) Revolving credit facility $ 100.0 $ 100.0 Term loan 148.1 149.1 Finance leases 8.0 5.6 256.1 254.7 Less: unamortized debt issuance costs (0.2) (0.2) Total debt $ 255.9 $ 254.5
Remaining principal payments under debt agreement	The remaining principal payments under existing debt agreements as of March 31, 2021 are as follows: 2021 2022 2023 2024 2025 Thereafter (in millions) Revolving credit facility $ — $ — $ — $ — $ 100.0 $ — Term loan 3.7 7.5 8.5 8.4 120.0 —
Pro Forma Schedule of Maturities of Long-term Debt [Table]	The remaining principal payments under all debt agreements, including the Notes issued on April 6, 2021, are as follows: 2021 2022 2023 2024 2025 2029 (in millions) Senior notes $ — $ — $ — $ — $ — $ 400.0 Revolving credit facility — — — — 100.0 — Term loan 3.7 7.5 8.5 8.4 120.0 —

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Operating leases	The following tables present information about the Company's operating leases as of March 31, 2021: March 31, 2021 (in millions) Maturity of Lease Liabilities 2021 (remaining) $ 3.8 2022 3.7 2023 2.8 2024 2.5 2025 2.2 Thereafter 8.9 Total undiscounted operating lease payments 23.9 Less imputed interest (4.3) Present value of operating lease liabilities $ 19.6
Lease right of use and contract liability classification	Balance Sheet Classification March 31, December 31, (in millions) Other assets $ 16.2 $ 17.9 Accrued liabilities 4.0 4.8 Other liabilities 15.6 16.4 Total operating lease liabilities $ 19.6 $ 21.2

Other, Net (Tables)

Other, Net (Tables)	3 Months Ended
	Mar. 31, 2021
Other Income and Expenses [Abstract]
Other, net (income) expense	Other, net (income) expense consists of the following items: Three Months Ended 2021 2020 (in millions) Interest income $ — $ (0.2) Foreign currency exchange transactions 0.6 — Other (0.1) — Other, net (income) expense $ 0.5 $ (0.2)

Compensation Related Costs, Ret

Compensation Related Costs, Retirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Retirement plan expense	Total employee retirement plan expense, which includes related administrative expenses, is as follows: Three Months Ended 2021 2020 (in millions) Defined contribution plans $ 2.7 $ 2.6 Multiemployer plan 0.4 0.4 $ 3.1 $ 3.0

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Changes in accumulated other comprehensive loss	Changes in accumulated other comprehensive loss for the three months ended March 31, 2021 and 2020 are as follows: Currency Unrealized Accumulated (in millions) Balances at December 31, 2019 $ (16.3) $ (3.4) $ (19.7) Other comprehensive income (loss), net of tax, before reclassifications (1.1) (3.4) (4.5) Amounts reclassified from accumulated other comprehensive loss, net of tax expense (benefit) of $0.0, ($0.1), and ($0.1) — 0.2 0.2 Other comprehensive income (loss) (1.1) (3.2) (4.3) Balances at March 31, 2020 $ (17.4) $ (6.6) $ (24.0) Balances at December 31, 2020 $ (16.6) $ (5.5) $ (22.1) Other comprehensive income (loss), net of tax, before reclassifications 0.1 0.5 0.6 Amounts reclassified from accumulated other comprehensive loss, net of tax expense (benefit) of $0.0, ($0.1), and ($0.1) — 0.4 0.4 Other comprehensive income (loss) 0.1 0.9 1.0 Balances at March 31, 2021 $ (16.5) $ (4.6) $ (21.1)

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per share	The computation of basic and diluted earnings per share follows. Three Months Ended Three Months Ended Income Average EPS Income Average EPS (in millions, except per share amounts) Net income $ 15.9 $ 31.6 Unvested restricted share participation (0.1) (0.3) Net income per common share – basic 15.8 48.0 $ 0.33 31.3 47.8 $ 0.65 Effect of dilutive securities: Nonparticipating unvested restricted shares — 0.8 — 0.6 Net income per common share – diluted $ 15.8 48.8 $ 0.32 $ 31.3 48.4 $ 0.65

Overview and Summary of Signi_3

Overview and Summary of Significant Accounting Policies - Stockholders' Equity (Details)	3 Months Ended
	Mar. 31, 2021USD ($)shares
Accounting Policies [Abstract]
Authorized stock repurchase amount	$ 50,000,000
Shares repurchased, shares | shares	0
Remaining authorized repurchase amount	$ 50,000,000

Overview and Summary of Signi_4

Overview and Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Contract asset with customer	$ 39.6	$ 82.8

Overview and Summary of Signi_5

Overview and Summary of Significant Accounting Policies - Unsatisfied Performance Obligation (Details) $ in Millions	Mar. 31, 2021USD ($)
Engineered Structures | Utility, wind, and related structures
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations, Amount	$ 379.5
Revenue, remaining performance obligation expected to be delivered in current year	100.00%
Engineered Structures | Storage tanks
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations, Amount	$ 30.7
Revenue, remaining performance obligation expected to be delivered in current year	100.00%
Transportation Products | Inland barges
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations, Amount	$ 133.2
Revenue, remaining performance obligation expected to be delivered in current year	91.00%

Acquisitions and Divestitures -

Acquisitions and Divestitures - Purchase price allocation (Details) - USD ($) $ in Millions	Mar. 31, 2021		Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 791.3	[1]	$ 794
Construction Products
Business Acquisition [Line Items]
Goodwill	316.5		$ 320
Construction Products | Cherry Industries
Business Acquisition [Line Items]
Accounts receivable	30.5
Inventories	11.8
Property, plant, and equipment	58.8
Mineral reserves	17.2
Goodwill	133.3
Other assets	4.3
Accounts payable	(7.5)
Accrued liabilities	(4.9)
Deferred taxes	(32.7)
Other liabilities	(1.5)
Total net assets acquired	296.8
Construction Products | Cherry Industries | Customer Relationships
Business Acquisition [Line Items]
Finite-Lived Intangibles	62.1
Construction Products | Cherry Industries | Construction Permits
Business Acquisition [Line Items]
Finite-Lived Intangibles	$ 25.4
[1]	(unaudited)

Pro-Forma (Details)

Pro-Forma (Details) - Cherry Industries - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Revenue	$ 488.2	$ 1,916.9
Income before income taxes	$ 44.4	$ 163.8

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2021USD ($)	Mar. 31, 2021USD ($)numberOfBusinessesAcquiredbusinesses_divested	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)numberOfBusinessesAcquiredbusinesses_divested	Apr. 06, 2021USD ($)
Segment Reporting Information [Line Items]
Term Loan		$ 150
Revenues		440.4			$ 488.2
Operating profit (loss)		$ 22.9			$ 45.1
Number of Divestitures | businesses_divested		0			0
Number of Businesses Acquired | numberOfBusinessesAcquired		1			2
Subsequent Event
Segment Reporting Information [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						4.375%
Subsequent Event | Senior Notes | Unsecured Debt
Segment Reporting Information [Line Items]
Term Loan						$ 400
Aggregates and specialty materials | Construction Products
Segment Reporting Information [Line Items]
Acquisition price				$ 25.8
Goodwill acquired				8.7
Aggregates and specialty materials | Construction Products | Subsequent Event
Segment Reporting Information [Line Items]
Acquisition price	$ 375
Traffic structures | Engineered Structures
Segment Reporting Information [Line Items]
Acquisition price					$ 25.5
Goodwill acquired					10
Cherry Industries
Segment Reporting Information [Line Items]
Revenues					43.8
Operating profit (loss)					$ 5.7
Cherry Industries | Customer Relationships
Segment Reporting Information [Line Items]
Weighted average useful life					14 years 10 months 24 days
Cherry Industries | Construction Permits
Segment Reporting Information [Line Items]
Weighted average useful life					19 years 9 months 18 days
Cherry Industries | Construction Products
Segment Reporting Information [Line Items]
Acquisition price					$ 296.8
Net cash paid for acquisition					284.1
Transaction costs					$ 0.9
Cherry Industries | Construction Products | Customer Relationships
Segment Reporting Information [Line Items]
Finite-Lived Intangibles		$ 62.1
Cherry Industries | Construction Products | Construction Permits
Segment Reporting Information [Line Items]
Finite-Lived Intangibles		25.4
Telecom structures | Engineered Structures
Segment Reporting Information [Line Items]
Acquisition price				27.8
Goodwill acquired				$ 8.5
Recycled Aggregates | Construction Products
Segment Reporting Information [Line Items]
Acquisition price			$ 87
Goodwill acquired			$ 4
Recycled Aggregates | Construction Products | Construction Permits
Segment Reporting Information [Line Items]
Weighted average useful life			22 years 9 months 18 days
Finite-Lived Intangibles		$ 51.6

Fair Value Accounting - Assets

Fair Value Accounting - Assets and liabilities measured at fair value on recurring basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions		Mar. 31, 2021	Dec. 31, 2020
Assets:
Cash equivalents		$ 50	$ 27.1
Total assets		50	27.1
Liabilities:
Contingent consideration liability	[1]	9.2	9.8
Total liabilities		15.5	17.1
Interest Rate Swap
Liabilities:
Derivative liability	[2]	6.3	7.3
Fair Value, Inputs, Level 1
Assets:
Cash equivalents		50	27.1
Total assets		50	27.1
Liabilities:
Contingent consideration liability	[1]	0	0
Total liabilities		0	0
Fair Value, Inputs, Level 1 | Interest Rate Swap
Liabilities:
Derivative liability	[2]	0	0
Fair Value, Inputs, Level 2
Assets:
Cash equivalents		0	0
Total assets		0	0
Liabilities:
Contingent consideration liability	[1]	0	0
Total liabilities		6.3	7.3
Fair Value, Inputs, Level 2 | Interest Rate Swap
Liabilities:
Derivative liability	[2]	6.3	7.3
Fair Value, Inputs, Level 3
Assets:
Cash equivalents		0	0
Total assets		0	0
Liabilities:
Contingent consideration liability	[1]	9.2	9.8
Total liabilities		9.2	9.8
Fair Value, Inputs, Level 3 | Interest Rate Swap
Liabilities:
Derivative liability	[2]	$ 0	$ 0
[1]	Current portion included in accrued liabilities and non-current portion included in other liabilities on the Consolidated Balance Sheets.
[2]	Included in other liabilities on the Consolidated Balance Sheets.

Segment Information - Financial

Segment Information - Financial information for segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 440.4	$ 488.2
Operating profit (loss)	22.9	45.1
Total
Segment Reporting Information [Line Items]
Revenues	440.4	489.6
Operating profit (loss)	37.4	56
Corporate
Segment Reporting Information [Line Items]
Revenues	0	0
Operating profit (loss)	(14.5)	(10.9)
Intersegment | Eliminations
Segment Reporting Information [Line Items]
Revenues	0	(1.4)
Operating profit (loss)	0	0
Construction Products | Total
Segment Reporting Information [Line Items]
Revenues	153.2	149.4
Operating profit (loss)	15.8	16.8
Engineered Structures | Total
Segment Reporting Information [Line Items]
Revenues	207	223.2
Operating profit (loss)	17.5	24.9
Transportation Products | Total
Segment Reporting Information [Line Items]
Revenues	80.2	117
Operating profit (loss)	4.1	14.3
Aggregates and specialty materials | Construction Products
Segment Reporting Information [Line Items]
Revenues	135.3	132.1
Other | Construction Products
Segment Reporting Information [Line Items]
Revenues	17.9	17.3
Utility, wind, and related structures | Engineered Structures
Segment Reporting Information [Line Items]
Revenues	164	176.4
Storage tanks | Engineered Structures
Segment Reporting Information [Line Items]
Revenues	43	46.8
Inland barges | Transportation Products
Segment Reporting Information [Line Items]
Revenues	57.9	89
Steel components | Transportation Products
Segment Reporting Information [Line Items]
Revenues	$ 22.3	$ 28

Segment Information - Narrative

Segment Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2021segment
Segment Reporting [Abstract]
Number of principal business segments of Company	3

Property, Plant, and Equipmen_2

Property, Plant, and Equipment - Components of property, plant, and equipment (Details) - USD ($) $ in Millions	Mar. 31, 2021		Dec. 31, 2020
Components of property, plant, and equipment
Property, plant and equipment, at cost	$ 1,609.3		$ 1,594.6
Less accumulated depreciation	(704.1)		(681.3)
Property, plant, and equipment, net	905.2	[1]	913.3
Land
Components of property, plant, and equipment
Property, plant and equipment, at cost	139.9		139.2
Mineral reserves
Components of property, plant, and equipment
Property, plant and equipment, at cost	247.7		249.9
Buildings and improvements
Components of property, plant, and equipment
Property, plant and equipment, at cost	306.9		302.3
Machinery and other
Components of property, plant, and equipment
Property, plant and equipment, at cost	858.7		853.6
Construction in progress
Components of property, plant, and equipment
Property, plant and equipment, at cost	$ 56.1		$ 49.6
[1]	(unaudited)

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	Mar. 31, 2021		Dec. 31, 2020
Goodwill [Line Items]
Goodwill	$ 791.3	[1]	$ 794
Construction Products
Goodwill [Line Items]
Goodwill	316.5		320
Engineered Structures
Goodwill [Line Items]
Goodwill	437.8		437
Transportation Products
Goodwill [Line Items]
Goodwill	$ 37		$ 37
[1]	(unaudited)

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2021		Dec. 31, 2020
Goodwill [Line Items]
Indefinite-Lived Trademarks	$ 34.1		$ 34.1
Finite-Lived Intangible Assets, Gross	208.7		205.5
Finite-Lived Intangible Assets, Accumulated Amortization	(31.1)		(26.7)
Finite-Lived Intangible Assets, Net	177.6		178.8
Intangibles, net	211.7	[1]	212.9
Customer Relationships
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	123.7		123.8
Construction Permits
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	77		73.6
Other Intangible Assets
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	$ 8		$ 8.1
[1]	(unaudited)

Debt - Components of debt (Deta

Debt - Components of debt (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Jan. 02, 2020
Debt Instrument [Line Items]
Term Loan	$ 150
Financing leases	8	$ 5.6
Long-term Debt and Lease Obligation, Including Current Maturities	256.1	254.7
Less: unamortized debt issuance costs	(0.2)	(0.2)
Total debt	255.9	254.5
Term Loan
Debt Instrument [Line Items]
Term Loan	148.1	149.1	$ 150
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Revolving credit facility	100	$ 100
Less: unamortized debt issuance costs	$ (1.6)

Debt - Remaining principal paym

Debt - Remaining principal payments under debt agreement (Details) $ in Millions	Mar. 31, 2021USD ($)
Term Loan
Debt Instrument [Line Items]
2021	$ 3.7
2022	7.5
2023	8.5
2024	8.4
2025	120
Thereafter	0
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
2021	0
2022	0
2023	0
2024	0
2025	100
Thereafter	$ 0

Debt - Proforma remaining princ

Debt - Proforma remaining principal payments under debt agreement (Details) - USD ($) $ in Millions	Apr. 06, 2021	Mar. 31, 2021
Term Loan
Debt Instrument [Line Items]
2021		$ 3.7
2022		7.5
2023		8.5
2024		8.4
2025		120
Thereafter		0
Unsecured Debt | Senior Notes | Subsequent Event
Debt Instrument [Line Items]
2021	$ 0
2022	0
2023	0
2024	0
2025	0
Thereafter	$ 400
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
2021		0
2022		0
2023		0
2024		0
2025		100
Thereafter		$ 0

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Apr. 06, 2021	Mar. 26, 2021	Dec. 31, 2020	Jan. 02, 2020	Nov. 01, 2018
Debt Instrument [Line Items]
Term Loan	$ 150
Unamortized debt issuance costs	0.2			$ 0.2
Subsequent Event
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		4.375%
Term Loan
Debt Instrument [Line Items]
Term Loan	$ 148.1			149.1	$ 150
Senior Notes | Unsecured Debt | Subsequent Event
Debt Instrument [Line Items]
Term Loan		$ 400
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 500	$ 400
Line of credit facility, unused commitment fee percent	0.20%
Borrowings under Revolving Credit Facility	$ 100			$ 100
Line of credit facility, remaining borrowing capacity	371.3
Unamortized debt issuance costs	$ 1.6
Revolving Credit Facility | Line of Credit | Unsecured Debt
Debt Instrument [Line Items]
Borrowings under Revolving Credit Facility			$ 150
Revolving Credit Facility | Line of Credit | Minimum
Debt Instrument [Line Items]
LIBOR variable rate spread	1.25%
Line of credit facility, unused commitment fee percent	0.20%
Revolving Credit Facility | Line of Credit | Maximum
Debt Instrument [Line Items]
LIBOR variable rate spread	2.00%
Line of credit facility, unused commitment fee percent	0.35%
Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 28.7
Letters of credit outstanding expiring in current fiscal year	$ 25.1
London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
LIBOR variable rate spread	1.25%
Designated as Hedging Instrument | Interest Rate Swap
Debt Instrument [Line Items]
Derivative, notional amount	$ 100
Derivative, fixed interest rate	2.71%
Derivative liability	$ 6.3

Operating Leases (Details)

Operating Leases (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2021 (remaining)	$ 3.8
2022	3.7
2023	2.8
2024	2.5
2025	2.2
Thereafter	8.9
Total undiscounted operating lease payments	23.9
Less imputed interest	(4.3)
Present value of operating lease liabilities	$ 19.6	$ 21.2

Balance Sheet Classification (D

Balance Sheet Classification (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Present value of operating lease liabilities	$ 19.6	$ 21.2
Other assets
Operating lease, right of use asset	16.2	17.9
Accrued liabilities
Operating lease, current liability	4	4.8
Other liabilities
Operating lease, noncurrent liability	$ 15.6	$ 16.4

Other, Net - Summary of other,

Other, Net - Summary of other, net (income) expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other, net (income) expense
Interest income	$ 0	$ (0.2)
Foreign currency exchange transactions	0.6	0
Other	(0.1)	0
Other, net (income) expense	$ 0.5	$ (0.2)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	21.70%	24.80%
Statutory rate	21.00%	21.00%
CARES Act deferred payroll tax payments	$ 9.7

Retirement plan expense (Detail

Retirement plan expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Retirement Benefits [Abstract]
Defined contribution plans	$ 2.7	$ 2.6
Multiemployer plan	0.4	0.4
Retirement expense	$ 3.1	$ 3

Employee Retirement Plans - Nar

Employee Retirement Plans - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Retirement Benefits [Abstract]
Contributions to the multiemployer plan	$ 0.4
Expected full year contributions by the employer to the multiemployer plan	$ 1.7

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in accumulated other comprehensive loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity beginning balance	$ (16.6)	$ (16.3)
Other comprehensive income (loss), net of tax, before reclassifications	0.1	(1.1)
Reclassification from accumulated other comprehensive income, current period, net of tax	0	0
Reclassification from AOCI, Current Period, Tax	0	0
Other comprehensive income (loss)	0.1	(1.1)
Equity ending balance	(16.5)	(17.4)
Unrealized loss on derivative financial instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity beginning balance	(5.5)	(3.4)
Other comprehensive income (loss), net of tax, before reclassifications	0.5	(3.4)
Reclassification from accumulated other comprehensive income, current period, net of tax	0.4	0.2
Reclassification from AOCI, Current Period, Tax	(0.1)	(0.1)
Other comprehensive income (loss)	0.9	(3.2)
Equity ending balance	(4.6)	(6.6)
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity beginning balance	(22.1)	(19.7)
Other comprehensive income (loss), net of tax, before reclassifications	0.6	(4.5)
Reclassification from accumulated other comprehensive income, current period, net of tax	0.4	0.2
Reclassification from AOCI, Current Period, Tax	(0.1)	(0.1)
Other comprehensive income (loss)	1	(4.3)
Equity ending balance	$ (21.1)	$ (24)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-based compensation	$ 4.7	$ 3.7

Earnings Per Common Share - Com

Earnings Per Common Share - Computation of basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Total weighted average restricted shares and antidilutive stock options	1.8	1.5
Earnings Per Share Reconciliation [Abstract]
Net income	$ 15.9	$ 31.6
Unvested restricted share participation	(0.1)	(0.3)
Net income per common share – basic	$ 15.8	$ 31.3
Net income - basic (shares)	48	47.8
Net income - basic (EPS)	$ 0.33	$ 0.65
Effect of dilutive securities:
Nonparticipating unvested restricted shares	$ 0	$ 0
Nonparticipating unvested restricted shares (shares)	0.8	0.6
Net income per common share – diluted	$ 15.8	$ 31.3
Net income - diluted (shares)	48.8	48.4
Net income - diluted (EPS)	$ 0.32	$ 0.65

Contingencies - Narrative (Deta

Contingencies - Narrative (Details) $ in Millions	Mar. 31, 2021USD ($)
Accrued liabilities
Loss Contingencies [Line Items]
Total accruals	$ 1.1
Environmental and workplace matters
Loss Contingencies [Line Items]
Total accruals	1.1
Minimum
Loss Contingencies [Line Items]
Range of possible loss	0.3
Maximum
Loss Contingencies [Line Items]
Range of possible loss	$ 0.4