Arcosa (ACA) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

Cover and DEI

Cover and DEI - shares	9 Months Ended
	Sep. 30, 2022	Oct. 14, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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		48,354,484
Entity Central Index Key	0001739445
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues	$ 603.9	$ 559.1	$ 1,742.5	$ 1,514.6
Operating costs:
Cost of revenues	487.1	459.1	1,404.9	1,237.6
Selling, general, and administrative expenses	67.8	62.5	196.7	185.3
Costs and Expenses, Total	554.9	521.6	1,601.6	1,422.9
Total operating profit	49	37.5	140.9	91.7
Interest expense	8.6	7.3	23.5	16
Other, net (income) expense	(0.2)	0.1	1.1	0.3
Income before income taxes	40.6	30.1	116.3	75.4
Provision for income taxes	8.6	6.4	25.1	15
Net income	$ 32	$ 23.7	$ 91.2	$ 60.4
Net income per common share:
Basic (in dollars per share)	$ 0.66	$ 0.49	$ 1.88	$ 1.25
Diluted (in dollars per share)	$ 0.66	$ 0.49	$ 1.87	$ 1.23
Weighted average number of shares outstanding:
Basic (in shares)	48.3	48.2	48.2	48.1
Diluted (in shares)	48.5	48.6	48.5	48.6
Dividends declared per common share	$ 0.05	$ 0.05	$ 0.15	$ 0.15

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 32	$ 23.7	$ 91.2	$ 60.4
Derivative financial instruments:
Unrealized gains (losses) arising during the period, net of tax expense (benefit)	0.9	0	3.2	0.8
Reclassification adjustments for losses included in net income, net of tax expense (benefit)	0.1	0.3	0.9	1
Currency translation adjustment:
Unrealized gains (losses) arising during the period, net of tax expense (benefit)	(0.5)	(0.2)	(0.6)	0.1
Other comprehensive income (loss)	0.5	0.1	3.5	1.9
Comprehensive income	$ 32.5	$ 23.8	$ 94.7	$ 62.3

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Unrealized gains (losses) arising during the period, tax expense (benefit)	$ 0.3	$ 0	$ 0.9	$ 0.2
Reclassification adjustments for losses included in net income, tax expense (benefit)	(0.1)	(0.1)	(0.3)	(0.3)
Unrealized gains (losses) arising during the period, tax expense (benefit)	$ (0.2)	$ (0.1)	$ (0.2)	$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2022	[1]	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 112.2		$ 72.9
Receivables, net of allowance	326.1		310.8
Inventories:
Raw materials and supplies	161		150.8
Work in process	56.1		53.6
Finished goods	111.7		120.1
Total inventory	328.8		324.5
Assets held for sale	114.8		20.4
Other	40.9		39.3
Total current assets	922.8		767.9
Property, plant, and equipment, net	1,171.4		1,201.9
Goodwill	958.6		934.9
Intangibles, net	261.4		220.3
Deferred income taxes	8.7		13.2
Other assets	57.7		49.9
Total assets	3,380.6		3,188.1
Current liabilities:
Accounts payable	221.6		184.7
Accrued liabilities	135.2		145.9
Advance billings	16		18.6
Liabilities held for sale	36.7		0
Current portion of long-term debt	13.9		14.8
Total current liabilities	423.4		364
Debt	696.6		664.7
Deferred income taxes	154.1		134
Other liabilities	75.2		72.1
Total liabilities	1,349.3		1,234.8
Stockholders' equity:
Common stock	$ 0.5		$ 0.5
Common stock, shares authorized	200,000,000		200,000,000
Capital in excess of par value	$ 1,708.6		$ 1,692.6
Retained earnings	363.3		279.5
Accumulated other comprehensive loss	(15.8)		(19.3)
Treasury stock	(25.3)		0
Total stockholders' equity	2,031.3		1,953.3
Total liabilities and stockholders' equity	$ 3,380.6		$ 3,188.1
[1](unaudited)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2022		Sep. 30, 2021
Operating activities:
Net income		$ 91.2		$ 60.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization		116.9		107
Stock-based compensation expense		15.5		12.8
Provision for deferred income taxes		19.7		9.7
Gains on disposition of property and other assets		(6.5)		(9)
(Increase) decrease in other assets		2.3		6.5
Increase (decrease) in other liabilities		(18.7)		(17.6)
Other		(3.6)		(6.3)
Changes in current assets and liabilities:
(Increase) decrease in receivables		(52)		(76.9)
(Increase) decrease in inventories		(39.1)		(36.1)
(Increase) decrease in other current assets		(3)		(9.8)
Increase (decrease) in accounts payable		57.9		60.7
Increase (decrease) in advance billings		(2.6)		(26.2)
Increase (decrease) in accrued liabilities		4.6		1.6
Net cash provided by operating activities		182.6		76.8
Investing activities:
Proceeds from disposition of property and other assets		31.5		14.9
Capital expenditures		(85.9)		(60.8)
Acquisitions, net of cash acquired		(75.1)		(523.4)
Net cash required by investing activities		(129.5)		(569.3)
Financing activities:
Payments to retire debt		(59.8)		(4.2)
Proceeds from issuance of debt		80		500
Shares repurchased		(15)		(9.4)
Dividends paid to common stockholders		(7.4)		(7.4)
Purchase of shares to satisfy employee tax on vested stock		(9.8)		(9.6)
Debt issuance costs		0		(6.6)
Net cash (required) provided by financing activities		(12)		462.8
Net increase (decrease) in cash and cash equivalents		41.1		(29.7)
Cash and cash equivalents at beginning of period		72.9		95.8
Cash and cash equivalents at end of period(1)	[2]	$ 114	[1]	$ 66.1
[1](unaudited)[2]Ending cash as of September 30, 2022 includes $1.8 million of cash presented within assets held for sale on the Consolidated Balance Sheet.

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' 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, 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	60.4				60.4
Other comprehensive income (loss)	1.9					1.9
Dividends paid to common stockholders	(7.4)				(7.4)
Restricted shares, net - shares			400,000				(100,000)
Restricted shares, net - value	3.2			13.9			$ (10.7)
Shares repurchased, shares							(200,000)
Shares repurchased	(9.4)						$ (9.4)
Retirement of treasury stock - value	0			14.7			$ 14.7
Retirement of treasury stock - shares			200,000				200,000
Ending balance at Sep. 30, 2021	1,940.9		$ 0.5	1,693.3	272.7	(20.2)	$ (5.4)
Ending balance, shares at Sep. 30, 2021			48,400,000				100,000
Beginning balance at Jun. 30, 2021	1,920.5		$ 0.5	1,688.8	251.5	(20.3)	$ 0
Beginning balance, shares at Jun. 30, 2021			48,400,000				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	23.7				23.7
Other comprehensive income (loss)	0.1					0.1
Dividends paid to common stockholders	(2.5)				(2.5)
Restricted shares, net - shares			0				0
Restricted shares, net - value	4.1			4.5			$ (0.4)
Shares repurchased, shares							(100,000)
Shares repurchased	(5)						$ (5)
Retirement of treasury stock - value	0			0			$ 0
Retirement of treasury stock - shares			0				0
Ending balance at Sep. 30, 2021	1,940.9		$ 0.5	1,693.3	272.7	(20.2)	$ (5.4)
Ending balance, shares at Sep. 30, 2021			48,400,000				100,000
Beginning balance at Dec. 31, 2021	1,953.3		$ 0.5	1,692.6	279.5	(19.3)	$ 0
Beginning balance, shares at Dec. 31, 2021			48,300,000				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	91.2				91.2
Other comprehensive income (loss)	3.5					3.5
Dividends paid to common stockholders	(7.4)				(7.4)
Restricted shares, net - shares			600,000				(200,000)
Restricted shares, net - value	$ 5.7			16			$ (10.3)
Shares repurchased, shares	(298,629)						(300,000)
Shares repurchased	$ (15)						$ (15)
Retirement of treasury stock - value	0			0			$ 0
Retirement of treasury stock - shares			0				0
Ending balance at Sep. 30, 2022	2,031.3	[1]	$ 0.5	1,708.6	363.3	(15.8)	$ (25.3)
Ending balance, shares at Sep. 30, 2022			48,900,000				500,000
Beginning balance at Jun. 30, 2022	1,996		$ 0.5	1,703.1	333.7	(16.3)	$ (25)
Beginning balance, shares at Jun. 30, 2022			48,900,000				500,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	32				32
Other comprehensive income (loss)	0.5					0.5
Dividends paid to common stockholders	(2.4)				(2.4)
Restricted shares, net - shares			0				0
Restricted shares, net - value	5.2			5.5			$ (0.3)
Shares repurchased, shares							0
Shares repurchased	0						$ 0
Retirement of treasury stock - value	0			0			$ 0
Retirement of treasury stock - shares			0				0
Ending balance at Sep. 30, 2022	$ 2,031.3	[1]	$ 0.5	$ 1,708.6	$ 363.3	$ (15.8)	$ (25.3)
Ending balance, shares at Sep. 30, 2022			48,900,000				500,000
Statement of Stockholders' Equity [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.01
[1](unaudited)

Overview and Summary of Signifi

Overview and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Overview and 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 structures, 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 and nine months ended September 30, 2022 may not be indicative of Arcosa's expected business, financial condition, and results of operations for the year ending December 31, 2022. 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 Financial Statements of the Company included in its Annual Report on Form 10-K for the year ended December 31, 2021. 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 to replace a program of the same amount that expired on December 31, 2020. The Company did not repurchase shares for the three months ended September 30, 2022. For the nine months ended September 30, 2022, the Company repurchased 298,629 shares at a cost of $15.0 million. As of September 30, 2022, the Company had a remaining authorization of $25.7 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 September 30, 2022, we had a contract asset of $67.9 million related to these contracts, compared to $54.2 million at December 31, 2021, which is included in receivables, net of allowance, within the Consolidated Balance Sheets. The increase in the contract asset is due to timing of deliveries. 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 September 30, 2022 and the percentage of the outstanding performance obligations as of September 30, 2022 expected to be delivered during the remainder of 2022: Unsatisfied performance obligations at September 30, 2022 Total Percent expected to be delivered in 2022 (in millions) Engineered Structures: Utility, wind, and related structures $ 370.4 55 % Storage tanks $ 15.9 Transportation Products: Inland barges $ 128.9 22 % Substantially all unsatisfied performance obligations beyond 2022 are expected to be delivered during 2023. On October 3, 2022, the Company sold the storage tanks business and its related backlog. See Note 2 Acquisitions and Divestitures. 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 third parties. The Company has no recourse to these receivables once they are sold but may have continuing involvement related to servicing and collection activities. The impact of these transactions in the Company's Consolidated Statements of Operations for the three and nine months ended September 30, 2022 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 issued accounting pronouncements not adopted as of September 30, 2022 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 continue to evaluate the impact of adoption, but do not expect the guidance to have a material impact on our Consolidated Financial Statements. In October 2021, the FASB issued Accounting Standards Update No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”, (“ASU 2021-08”), which requires that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. ASU 2021-08 will become effective for public companies during interim and annual reporting periods beginning after December 15, 2022, with early adoption permitted. We do not expect this standard to have a material impact on our Consolidated Financial Statements. Reclassifications Certain prior year balances have been reclassified in the Consolidated Financial Statements to conform with the 2022 presentation.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures 2022 Acquisitions In May 2022, we completed the stock acquisition of Recycled Aggregate Materials Company, Inc. ("RAMCO"), a leading producer of recycled aggregates in the Los Angeles metropolitan area, which is included in our Construction Products segment, for a total purchase price of $75.6 million. The acquisition was funded with $80.0 million of borrowings under our revolving credit facility. The acquisition was recorded as a business combination based on a preliminary valuation of the assets acquired and liabilities assumed at their acquisition date fair value using unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities ("Level 3" inputs). The preliminary valuation resulted in the recognition of, among others, $54.2 million of permits with an initial weighted average useful life of 20 years, $6.4 million of property, plant, and equipment, and $11.7 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. We expect to complete our purchase price allocation as soon as reasonably possible, not to exceed one year from the acquisition date. Adjustments to the preliminary purchase price allocation could be material, particularly with respect to our preliminary estimates of intangible assets and property, plant, and equipment. 2021 Acquisitions In August 2021, we completed the stock acquisition of Southwest Rock Products, LLC and affiliated entities (collectively “Southwest Rock”), a natural aggregates company serving the greater Phoenix metropolitan area, which is included in our Construction Products segment, for a total purchase price of $149.7 million. The acquisition was funded with cash on hand, $100.0 million of borrowings under our revolving credit facility, and a $15.0 million holdback payable to the seller upon the extension of a certain mineral reserve lease. The acquisition was recorded as a business combination based on a valuation of the assets acquired and liabilities assumed at their acquisition date fair value using Level 3 inputs. The final valuation resulted in the recognition of, among others, $70.7 million of goodwill, $43.7 million of mineral reserves, and $28.0 million of property, plant, and equipment 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. 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 is included in our Construction Products segment. The purchase price of $372.8 million 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. The acquisition was recorded as a business combination with valuations of the assets acquired and liabilities assumed at their acquisition date fair value using Level 3 inputs. The following table represents our final purchase price allocation as of September 30, 2022: (in millions) Cash $ 1.0 Accounts receivable 18.3 Inventories 20.9 Property, plant, and equipment 68.4 Mineral reserves 198.8 Goodwill 87.7 Customer relationships 7.2 Other assets 10.4 Accounts payable (7.4) Accrued liabilities (10.0) Deferred income taxes (9.2) Other liabilities (13.3) Total net assets acquired $ 372.8 The goodwill acquired, none of which is tax-deductible, primarily relates to StonePoint's market position and existing workforce. The customer relationships intangible asset was assigned a useful life of 10 years. In April 2021, we also completed the acquisition of certain assets and liabilities of a Dallas-Fort Worth, Texas based recycled aggregates business in our Construction Products segment. The purchase price of the acquisition was not significant. Divestitures There were no divestitures closed during the three and nine months ended September 30, 2022 and 2021. In November 2021, we completed the divestiture of certain assets and liabilities of an asphalt operation previously acquired as part of the StonePoint acquisition with a selling price of approximately $19.0 million. The income statement impact of the disposal was not significant as the assets were recorded at fair value as of their acquisition date in April 2021.

Fair Value Accounting

Fair Value Accounting	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Accounting	Fair Value Accounting Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurement as of September 30, 2022 Level 1 Level 2 Level 3 Total (in millions) Assets: Interest rate hedge (1) $ — $ 1.6 $ — $ 1.6 Total assets $ — $ 1.6 $ — $ 1.6 Liabilities: Contingent consideration (3) $ — $ — $ 4.2 $ 4.2 Total liabilities $ — $ — $ 4.2 $ 4.2 Fair Value Measurement as of December 31, 2021 Level 1 Level 2 Level 3 Total (in millions) Liabilities: Interest rate hedge (2) $ — $ 3.9 $ — $ 3.9 Contingent consideration (3) — — 6.7 6.7 Total liabilities $ — $ 3.9 $ 6.7 $ 10.6 (1) Included in other non-current assets on the Consolidated Balance Sheets. (2) Included in other liabilities on the Consolidated Balance Sheets. (3) 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.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information The Company reports operating results in three principal business segments: Construction Products. The Construction Products segment primarily produces and sells natural and recycled aggregates, specialty materials, and construction site support equipment, including trench shields and shoring products. Engineered Structures. The Engineered Structures segment primarily manufactures and sells steel structures 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 as well as concrete utility structures. On October 3, 2022, the Company completed the divestiture of its storage tank business. See Note 2 Acquisitions and Divestitures. Transportation Products. The Transportation Products segment primarily manufactures and sells inland barges, fiberglass barge covers, winches, marine hardware, and steel components for railcars and other transportation and industrial equipment. The financial information for these segments is shown in the tables below. We operate principally in North America. Three Months Ended September 30, Revenues Operating Profit (Loss) 2022 2021 2022 2021 (in millions) Aggregates and specialty materials $ 216.8 $ 202.3 Construction site support 27.4 25.1 Construction Products 244.2 227.4 $ 27.6 $ 26.8 Utility, wind, and related structures 211.2 189.4 Storage tanks 65.8 60.7 Engineered Structures 277.0 250.1 37.1 23.6 Inland barges 50.9 58.4 Steel components 31.8 23.2 Transportation Products 82.7 81.6 1.0 1.5 Segment Totals before Eliminations and Corporate 603.9 559.1 65.7 51.9 Corporate — — (16.7) (14.4) Eliminations — — — — Consolidated Total $ 603.9 $ 559.1 $ 49.0 $ 37.5 Nine Months Ended September 30, Revenues Operating Profit (Loss) 2022 2021 2022 2021 (in millions) Aggregates and specialty materials $ 620.9 $ 519.1 Construction site support 80.7 66.0 Construction Products 701.6 585.1 $ 72.4 $ 60.5 Utility, wind, and related structures 608.5 545.0 Storage tanks 187.6 154.6 Engineered Structures 796.1 699.6 106.9 70.2 Inland barges 151.7 165.3 Steel components 93.1 64.7 Transportation Products 244.8 230.0 7.2 6.9 Segment Totals before Eliminations and Corporate 1,742.5 1,514.7 186.5 137.6 Corporate — — (45.6) (45.9) Eliminations — (0.1) — — Consolidated Total $ 1,742.5 $ 1,514.6 $ 140.9 $ 91.7

Property, Plant, and Equipment

Property, Plant, and Equipment	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and December 31, 2021. September 30, December 31, (in millions) Land $ 136.9 $ 137.3 Mineral reserves 502.6 507.3 Buildings and improvements 295.2 301.0 Machinery and other 947.4 973.9 Construction in progress 73.6 45.4 1,955.7 1,964.9 Less accumulated depreciation and depletion (784.3) (763.0) $ 1,171.4 $ 1,201.9

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill Goodwill by segment is as follows: September 30, December 31, (in millions) Construction Products $ 484.0 $ 460.3 Engineered Structures 437.6 437.6 Transportation Products 37.0 37.0 $ 958.6 $ 934.9 The increase in Construction Products goodwill during the nine months ended September 30, 2022 was due to the acquisition of RAMCO and the finalization of the purchase price allocations for StonePoint and Southwest Rock. See Note 2 Acquisitions and Divestitures. Intangible Assets Intangibles, net consisted of the following: September 30, December 31, (in millions) Intangibles with indefinite lives - Trademarks $ 34.1 $ 34.1 Intangibles with definite lives: Customer relationships 136.9 135.4 Permits 141.7 87.5 Other 3.4 3.9 282.0 226.8 Less accumulated amortization (54.7) (40.6) 227.3 186.2 Intangible assets, net $ 261.4 $ 220.3

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes the components of debt as of September 30, 2022 and December 31, 2021: September 30, December 31, (in millions) Revolving credit facility $ 155.0 $ 125.0 Term loan 140.6 144.4 Senior notes 400.0 400.0 Finance leases (see Note 8 Leases) 20.5 16.3 716.1 685.7 Less: unamortized debt issuance costs (5.6) (6.2) Total debt $ 710.5 $ 679.5 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. As of September 30, 2022, the term loan had a remaining balance of $140.6 million . As of September 30, 2022, we had $155.0 million of outstanding loans borrowed under the revolving credit facility, and there were approximately $28.4 million of letters of credit issued, leaving $316.6 million available. During the nine months ended September 30, 2022 the Company borrowed a net of $30.0 million which was used to fund the acquisition of RAMCO. Of the outstanding letters of credit as of September 30, 2022, $3.3 million are expected to expire in 2022, with the remainder in 2023. The majority of our letters of credit obligations support the Company’s various insurance programs and generally renew by their terms each year. Subsequently, in October 2022, the Company used $155.0 million of cash proceeds from the sale of the storage tanks business to repay the outstanding loans borrowed under its revolving credit facility, leaving $471.6 million available. See Note 2 Acquisitions and Divestitures for additional information. 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 1.75% as of September 30, 2022. The commitment fee rate ranges from 0.20% to 0.35% and was set at 0.30% at September 30, 2022. The Company's revolving credit and term loan facilities require the maintenance of certain ratios related to leverage and interest coverage. As of September 30, 2022, 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 September 30, 2022, the Company had $1.1 million of unamortized debt issuance costs related to the revolving credit facility, which are included in other assets on the Consolidated Balance Sheet. 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. 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 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 estimated fair value of the Notes as of September 30, 2022 was $339.1 million based on a quoted market price in a market with little activity (Level 2 input). In connection with the issuance of the Notes, the Company paid $6.6 million of debt issuance costs. The remaining principal payments under existing debt agreements as of September 30, 2022 are as follows: 2022 2023 2024 2025 2026 Thereafter (in millions) Revolving credit facility (1) $ — $ — $ — $ 155.0 $ — $ — Term loan 3.8 8.4 8.4 120.0 — — Senior notes — — — — — 400.0 (1) I n October 2022, the Company used $155.0 million of cash proceeds from the sale of the storage tanks business to repay the outstanding loans borrowed under its revolving credit facility, leaving $471.6 million available. 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 September 30, 2022, the Company has recorded an asset of $1.6 million for the fair value of the instrument, all of which is recorded in accumulated other comprehensive income. See Note 3 Fair Value Accounting.

Leases

Leases	9 Months Ended
	Sep. 30, 2022
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. Future minimum lease payments for operating and finance lease obligations as of September 30, 2022 consisted of the following: Operating Leases Finance Leases (in millions) 2022 (remaining) $ 2.0 $ 1.7 2023 7.2 6.9 2024 6.3 6.8 2025 5.5 5.0 2026 4.4 1.3 Thereafter 9.4 0.2 Total undiscounted future minimum lease obligations 34.8 21.9 Less imputed interest (2.4) (1.4) Present value of net minimum lease obligations $ 32.4 $ 20.5 The following table summarizes our operating and finance leases and their classification within the Consolidated Balance Sheet. September 30, December 31, (in millions) Assets Operating - Other assets $ 29.6 $ 20.9 Finance - Property, plant, and equipment, net 23.7 16.9 Total lease assets 53.3 37.8 Liabilities Current Operating - Accrued liabilities 6.5 4.8 Finance - Current portion of long-term debt 6.4 6.3 Non-current Operating - Other liabilities 25.9 19.1 Finance - Debt 14.1 10.0 Total lease liabilities $ 52.9 $ 40.2

Other, Net

Other, Net	9 Months Ended
	Sep. 30, 2022
Other Income and Expenses [Abstract]
Other, Net	Other, Net Other, net (income) expense consists of the following items: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (in millions) Interest income $ — $ — $ (0.1) $ (0.1) Foreign currency exchange transactions — 0.1 1.5 0.6 Other (0.2) — (0.3) (0.2) Other, net (income) expense $ (0.2) $ 0.1 $ 1.1 $ 0.3

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
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 2021 with various significant tax jurisdictions. Our effective tax rates of 21.2% and 21.6% for the three and nine months ended September 30, 2022, respectively, which differed from the U.S. federal statutory rate of 21.0% due to state income taxes, compensation-related items, and foreign income taxes, offset by benefits from statutory depletion deductions. For the three and nine months ended September 30, 2021, the effective tax rates of 21.3% and 19.9%, respectively, which differed from the U.S. federal statutory rate of 21.0% due to state income taxes, compensation-related items, and disallowed expenses connected to acquisitions offset by benefits from statutory depletion deductions and prior year true ups. In response to the COVID-19 pandemic, on March 27, 2020 the U.S. Congress passed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which includes certain tax relief and benefits that may impact the Company. As of September 30, 2022, the Company has deferred $5.4 million in payroll-related taxes in accordance with the provisions of the CARES Act which is expected to be paid in the fourth quarter of 2022. On August 16, 2022, the Inflation Reduction Act of 2022 ("IRA") was enacted to reduce inflation and promote clean energy in the United States. Among other things, the IRA introduces a 15% alternative minimum tax for corporations with a three-year taxable year average annual adjusted financial statement income in excess of $1 billion and imposes a 1% excise tax on the fair market value of stock repurchases made by covered corporations after December 31, 2022. The IRA also provides for certain manufacturing, production, and investment tax credit incentives. The IRA is open for public comments and therefore is subject to the issuance of additional guidance and clarification. We have considered the applicable current IRA tax law changes in our tax provision for the three and nine months ended September 30, 2022, and continue to evaluate the impact of these tax law changes on future periods.

Employee Retirement Plans

Employee Retirement Plans	9 Months Ended
	Sep. 30, 2022
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 Nine Months Ended 2022 2021 2022 2021 (in millions) Defined contribution plans $ 3.4 $ 2.8 $ 10.2 $ 8.1 Multiemployer plan 0.4 0.4 1.2 1.4 $ 3.8 $ 3.2 $ 11.4 $ 9.5 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 and $1.2 million to the multiemployer plan for the three and nine months ended September 30, 2022, respectively. The Company contributed $0.4 million and $1.3 million to the multiemployer plan for the three and nine months ended September 30, 2021, respectively. Total contributions to the multiemployer plan for 2022 are expected to be approximately $1.6 million.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss for the nine months ended September 30, 2022 and 2021 are as follows: Currency Unrealized Accumulated (in millions) Balances at December 31, 2020 $ (16.6) $ (5.5) $ (22.1) Other comprehensive income (loss), net of tax, before reclassifications 0.1 0.8 0.9 Amounts reclassified from accumulated other comprehensive loss, net of tax expense (benefit) of $0.0, ($0.3), and ($0.3) — 1.0 1.0 Other comprehensive income (loss) 0.1 1.8 1.9 Balances at September 30, 2021 $ (16.5) $ (3.7) $ (20.2) Balances at December 31, 2021 $ (16.3) $ (3.0) $ (19.3) Other comprehensive income (loss), net of tax, before reclassifications (0.6) 3.2 2.6 Amounts reclassified from accumulated other comprehensive loss, net of tax expense (benefit) of $0.0, ($0.3), and ($0.3) — 0.9 0.9 Other comprehensive income (loss) (0.6) 4.1 3.5 Balances at September 30, 2022 $ (16.9) $ 1.1 $ (15.8)

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based CompensationStock-based compensation totaled approximately $5.4 million and $15.5 million for the three and nine months ended September 30, 2022, respectively. Stock-based compensation totaled approximately $4.0 million and $12.8 million for the three and nine months ended September 30, 2021, respectively.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2022
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 1.4 million and 1.5 million shares for the three and nine months ended September 30, 2022, respectively. Total weighted average restricted shares were 1.6 million and 1.8 million three and nine months ended September 30, 2021, 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 $ 32.0 $ 23.7 Unvested restricted share participation (0.1) (0.1) Net income per common share – basic 31.9 48.3 $ 0.66 23.6 48.2 $ 0.49 Effect of dilutive securities: Nonparticipating unvested restricted shares — 0.2 — 0.4 Net income per common share – diluted $ 31.9 48.5 $ 0.66 $ 23.6 48.6 $ 0.49 Nine Months Ended Nine Months Ended Income Average EPS Income Average EPS (in millions, except per share amounts) Net income $ 91.2 $ 60.4 Unvested restricted share participation (0.4) (0.4) Net income per common share – basic 90.8 48.2 $ 1.88 60.0 48.1 $ 1.25 Effect of dilutive securities: Nonparticipating unvested restricted shares — 0.3 — 0.5 Net income per common share – diluted $ 90.8 48.5 $ 1.87 $ 60.0 48.6 $ 1.23

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022, 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 September 30, 2022, total accruals of $0.8 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 $0.8 million as of September 30, 2022, included in our total accruals of $0.8 million discussed above, 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.

Overview and Summary of Signi_2

Overview and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
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 structures, 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 and nine months ended September 30, 2022 may not be indicative of Arcosa's expected business, financial condition, and results of operations for the year ending December 31, 2022. 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 Financial Statements of the Company included in its Annual Report on Form 10-K for the year ended December 31, 2021.
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 to replace a program of the same amount that expired on December 31, 2020. The Company did not repurchase shares for the three months ended September 30, 2022. For the nine months ended September 30, 2022, the Company repurchased 298,629 shares at a cost of $15.0 million. As of September 30, 2022, the Company had a remaining authorization of $25.7 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 September 30, 2022, we had a contract asset of $67.9 million related to these contracts, compared to $54.2 million at December 31, 2021, which is included in receivables, net of allowance, within the Consolidated Balance Sheets. The increase in the contract asset is due to timing of deliveries. 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 September 30, 2022 and the percentage of the outstanding performance obligations as of September 30, 2022 expected to be delivered during the remainder of 2022: Unsatisfied performance obligations at September 30, 2022 Total Percent expected to be delivered in 2022 (in millions) Engineered Structures: Utility, wind, and related structures $ 370.4 55 % Storage tanks $ 15.9 Transportation Products: Inland barges $ 128.9 22 %
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 third parties. The Company has no recourse to these receivables once they are sold but may have continuing involvement related to servicing and collection activities. The impact of these transactions in the Company's Consolidated Statements of Operations for the three and nine months ended September 30, 2022 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 issued accounting pronouncements not adopted as of September 30, 2022 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 continue to evaluate the impact of adoption, but do not expect the guidance to have a material impact on our Consolidated Financial Statements. In October 2021, the FASB issued Accounting Standards Update No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”, (“ASU 2021-08”), which requires that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. ASU 2021-08 will become effective for public companies during interim and annual reporting periods beginning after December 15, 2022, with early adoption permitted. We do not expect this standard to have a material impact on our Consolidated Financial Statements.
Reclassifications	Reclassifications Certain prior year balances have been reclassified in the Consolidated Financial Statements to conform with the 2022 presentation.

Overview and Summary of Signi_3

Overview and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and the percentage of the outstanding performance obligations as of September 30, 2022 expected to be delivered during the remainder of 2022: Unsatisfied performance obligations at September 30, 2022 Total Percent expected to be delivered in 2022 (in millions) Engineered Structures: Utility, wind, and related structures $ 370.4 55 % Storage tanks $ 15.9 Transportation Products: Inland barges $ 128.9 22 %

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Sep. 30, 2022
StonePoint
Business Acquisition [Line Items]
Purchase price allocation	The following table represents our final purchase price allocation as of September 30, 2022: (in millions) Cash $ 1.0 Accounts receivable 18.3 Inventories 20.9 Property, plant, and equipment 68.4 Mineral reserves 198.8 Goodwill 87.7 Customer relationships 7.2 Other assets 10.4 Accounts payable (7.4) Accrued liabilities (10.0) Deferred income taxes (9.2) Other liabilities (13.3) Total net assets acquired $ 372.8

Fair Value Accounting (Tables)

Fair Value Accounting (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 Level 1 Level 2 Level 3 Total (in millions) Assets: Interest rate hedge (1) $ — $ 1.6 $ — $ 1.6 Total assets $ — $ 1.6 $ — $ 1.6 Liabilities: Contingent consideration (3) $ — $ — $ 4.2 $ 4.2 Total liabilities $ — $ — $ 4.2 $ 4.2 Fair Value Measurement as of December 31, 2021 Level 1 Level 2 Level 3 Total (in millions) Liabilities: Interest rate hedge (2) $ — $ 3.9 $ — $ 3.9 Contingent consideration (3) — — 6.7 6.7 Total liabilities $ — $ 3.9 $ 6.7 $ 10.6 (1) Included in other non-current assets on the Consolidated Balance Sheets. (2) Included in other liabilities on the Consolidated Balance Sheets. (3) 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)	9 Months Ended
	Sep. 30, 2022
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 September 30, Revenues Operating Profit (Loss) 2022 2021 2022 2021 (in millions) Aggregates and specialty materials $ 216.8 $ 202.3 Construction site support 27.4 25.1 Construction Products 244.2 227.4 $ 27.6 $ 26.8 Utility, wind, and related structures 211.2 189.4 Storage tanks 65.8 60.7 Engineered Structures 277.0 250.1 37.1 23.6 Inland barges 50.9 58.4 Steel components 31.8 23.2 Transportation Products 82.7 81.6 1.0 1.5 Segment Totals before Eliminations and Corporate 603.9 559.1 65.7 51.9 Corporate — — (16.7) (14.4) Eliminations — — — — Consolidated Total $ 603.9 $ 559.1 $ 49.0 $ 37.5 Nine Months Ended September 30, Revenues Operating Profit (Loss) 2022 2021 2022 2021 (in millions) Aggregates and specialty materials $ 620.9 $ 519.1 Construction site support 80.7 66.0 Construction Products 701.6 585.1 $ 72.4 $ 60.5 Utility, wind, and related structures 608.5 545.0 Storage tanks 187.6 154.6 Engineered Structures 796.1 699.6 106.9 70.2 Inland barges 151.7 165.3 Steel components 93.1 64.7 Transportation Products 244.8 230.0 7.2 6.9 Segment Totals before Eliminations and Corporate 1,742.5 1,514.7 186.5 137.6 Corporate — — (45.6) (45.9) Eliminations — (0.1) — — Consolidated Total $ 1,742.5 $ 1,514.6 $ 140.9 $ 91.7

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Components of property, plant, and equipment	The following table summarizes the components of property, plant, and equipment as of September 30, 2022 and December 31, 2021. September 30, December 31, (in millions) Land $ 136.9 $ 137.3 Mineral reserves 502.6 507.3 Buildings and improvements 295.2 301.0 Machinery and other 947.4 973.9 Construction in progress 73.6 45.4 1,955.7 1,964.9 Less accumulated depreciation and depletion (784.3) (763.0) $ 1,171.4 $ 1,201.9

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill by segment	Goodwill by segment is as follows: September 30, December 31, (in millions) Construction Products $ 484.0 $ 460.3 Engineered Structures 437.6 437.6 Transportation Products 37.0 37.0 $ 958.6 $ 934.9
Intangibles, net	Intangibles, net consisted of the following: September 30, December 31, (in millions) Intangibles with indefinite lives - Trademarks $ 34.1 $ 34.1 Intangibles with definite lives: Customer relationships 136.9 135.4 Permits 141.7 87.5 Other 3.4 3.9 282.0 226.8 Less accumulated amortization (54.7) (40.6) 227.3 186.2 Intangible assets, net $ 261.4 $ 220.3

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Components of debt	The following table summarizes the components of debt as of September 30, 2022 and December 31, 2021: September 30, December 31, (in millions) Revolving credit facility $ 155.0 $ 125.0 Term loan 140.6 144.4 Senior notes 400.0 400.0 Finance leases (see Note 8 Leases) 20.5 16.3 716.1 685.7 Less: unamortized debt issuance costs (5.6) (6.2) Total debt $ 710.5 $ 679.5
Remaining principal payments under debt agreement	The remaining principal payments under existing debt agreements as of September 30, 2022 are as follows: 2022 2023 2024 2025 2026 Thereafter (in millions) Revolving credit facility (1) $ — $ — $ — $ 155.0 $ — $ — Term loan 3.8 8.4 8.4 120.0 — — Senior notes — — — — — 400.0 (1) I n October 2022, the Company used $155.0 million of cash proceeds from the sale of the storage tanks business to repay the outstanding loans borrowed under its revolving credit facility, leaving $471.6 million available.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Future minimum lease payments	Future minimum lease payments for operating and finance lease obligations as of September 30, 2022 consisted of the following: Operating Leases Finance Leases (in millions) 2022 (remaining) $ 2.0 $ 1.7 2023 7.2 6.9 2024 6.3 6.8 2025 5.5 5.0 2026 4.4 1.3 Thereafter 9.4 0.2 Total undiscounted future minimum lease obligations 34.8 21.9 Less imputed interest (2.4) (1.4) Present value of net minimum lease obligations $ 32.4 $ 20.5
Balance sheet classification	The following table summarizes our operating and finance leases and their classification within the Consolidated Balance Sheet. September 30, December 31, (in millions) Assets Operating - Other assets $ 29.6 $ 20.9 Finance - Property, plant, and equipment, net 23.7 16.9 Total lease assets 53.3 37.8 Liabilities Current Operating - Accrued liabilities 6.5 4.8 Finance - Current portion of long-term debt 6.4 6.3 Non-current Operating - Other liabilities 25.9 19.1 Finance - Debt 14.1 10.0 Total lease liabilities $ 52.9 $ 40.2

Other, Net (Tables)

Other, Net (Tables)	9 Months Ended
	Sep. 30, 2022
Other Income and Expenses [Abstract]
Other, net (income) expense	Other, net (income) expense consists of the following items: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (in millions) Interest income $ — $ — $ (0.1) $ (0.1) Foreign currency exchange transactions — 0.1 1.5 0.6 Other (0.2) — (0.3) (0.2) Other, net (income) expense $ (0.2) $ 0.1 $ 1.1 $ 0.3

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Retirement plan expense	Total employee retirement plan expense, which includes related administrative expenses, is as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (in millions) Defined contribution plans $ 3.4 $ 2.8 $ 10.2 $ 8.1 Multiemployer plan 0.4 0.4 1.2 1.4 $ 3.8 $ 3.2 $ 11.4 $ 9.5

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Changes in accumulated other comprehensive loss	Changes in accumulated other comprehensive loss for the nine months ended September 30, 2022 and 2021 are as follows: Currency Unrealized Accumulated (in millions) Balances at December 31, 2020 $ (16.6) $ (5.5) $ (22.1) Other comprehensive income (loss), net of tax, before reclassifications 0.1 0.8 0.9 Amounts reclassified from accumulated other comprehensive loss, net of tax expense (benefit) of $0.0, ($0.3), and ($0.3) — 1.0 1.0 Other comprehensive income (loss) 0.1 1.8 1.9 Balances at September 30, 2021 $ (16.5) $ (3.7) $ (20.2) Balances at December 31, 2021 $ (16.3) $ (3.0) $ (19.3) Other comprehensive income (loss), net of tax, before reclassifications (0.6) 3.2 2.6 Amounts reclassified from accumulated other comprehensive loss, net of tax expense (benefit) of $0.0, ($0.3), and ($0.3) — 0.9 0.9 Other comprehensive income (loss) (0.6) 4.1 3.5 Balances at September 30, 2022 $ (16.9) $ 1.1 $ (15.8)

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2022
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 $ 32.0 $ 23.7 Unvested restricted share participation (0.1) (0.1) Net income per common share – basic 31.9 48.3 $ 0.66 23.6 48.2 $ 0.49 Effect of dilutive securities: Nonparticipating unvested restricted shares — 0.2 — 0.4 Net income per common share – diluted $ 31.9 48.5 $ 0.66 $ 23.6 48.6 $ 0.49 Nine Months Ended Nine Months Ended Income Average EPS Income Average EPS (in millions, except per share amounts) Net income $ 91.2 $ 60.4 Unvested restricted share participation (0.4) (0.4) Net income per common share – basic 90.8 48.2 $ 1.88 60.0 48.1 $ 1.25 Effect of dilutive securities: Nonparticipating unvested restricted shares — 0.3 — 0.5 Net income per common share – diluted $ 90.8 48.5 $ 1.87 $ 60.0 48.6 $ 1.23

Overview and Summary of Signi_4

Overview and Summary of Significant Accounting Policies - Stockholders' Equity (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accounting Policies [Abstract]
Authorized stock repurchase amount	$ 50,000,000		$ 50,000,000
Shares repurchased, shares			298,629
Remaining authorized repurchase amount	25,700,000		$ 25,700,000
Cost of shares repurchased	$ 0	$ 5,000,000	$ 15,000,000	$ 9,400,000

Overview and Summary of Signi_5

Overview and Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Contract asset with customer	$ 67.9	$ 54.2

Overview and Summary of Signi_6

Overview and Summary of Significant Accounting Policies - Unsatisfied Performance Obligation (Details) $ in Millions	Sep. 30, 2022 USD ($)
Engineered Structures | Utility, wind, and related structures
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations, Amount	$ 370.4
Revenue, remaining performance obligation expected to be delivered in current year	55%
Engineered Structures | Storage tanks
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations, Amount	$ 15.9
Transportation Products | Inland barges
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations, Amount	$ 128.9
Revenue, remaining performance obligation expected to be delivered in current year	22%

Acquisitions and Divestitures -

Acquisitions and Divestitures - Purchase price allocation (Details) - USD ($) $ in Millions	Sep. 30, 2022		Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 958.6	[1]	$ 934.9
Construction Products
Business Acquisition [Line Items]
Goodwill	484		$ 460.3
Construction Products | StonePoint
Business Acquisition [Line Items]
Cash	1
Accounts receivable	18.3
Inventories	20.9
Property, plant, and equipment	68.4
Mineral reserves	198.8
Goodwill	87.7
Other assets	10.4
Accounts payable	(7.4)
Accrued liabilities	(10)
Deferred income taxes	(9.2)
Other liabilities	(13.3)
Total net assets acquired	372.8
Construction Products | StonePoint | Customer relationships
Business Acquisition [Line Items]
Finite-Lived Intangibles	$ 7.2
[1](unaudited)

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended			9 Months Ended			12 Months Ended
	Oct. 31, 2022 USD ($)	Sep. 30, 2022 USD ($) businesses_divested		Sep. 30, 2021 USD ($) businesses_divested	Sep. 30, 2022 USD ($) businesses_divested		Sep. 30, 2021 USD ($) businesses_divested	Dec. 31, 2021 USD ($)	Oct. 03, 2022 USD ($)	Apr. 06, 2021 USD ($)
Segment Reporting Information [Line Items]
Revenues		$ 603.9		$ 559.1	$ 1,742.5		$ 1,514.6
Operating profit (loss)		$ 49		$ 37.5	$ 140.9		$ 91.7
Number of Divestitures | businesses_divested		0		0	0		0
Goodwill		$ 958.6	[1]		$ 958.6	[1]		$ 934.9
Senior notes | Unsecured Debt
Segment Reporting Information [Line Items]
Term loan		400			400			400		$ 400
Interest rate										4.375%
Revolving credit facility | Revolving Credit Facility
Segment Reporting Information [Line Items]
Borrowings under revolving credit facility					80			100
Revolving credit facility | Revolving Credit Facility | Subsequent Event
Segment Reporting Information [Line Items]
Repayments under revolving credit facility	$ 155
Construction Products
Segment Reporting Information [Line Items]
Goodwill		484			484			460.3
Construction Products | Asphalt operation
Segment Reporting Information [Line Items]
Selling price of asphalt operation								19
Engineered Structures
Segment Reporting Information [Line Items]
Goodwill		437.6			437.6			437.6
Engineered Structures | Storage Tanks Business
Segment Reporting Information [Line Items]
Agreed selling price of storage tanks business					275
Assets held for sale		114.8			114.8
Liabilities held for sale		36.7			36.7
Receivables, held for sale		38.8			38.8
Inventories, held for sale		40.4			40.4
Property, plant, and equipment, net, held for sale		31.2			31.2
Accounts payable, held for sale		22.3			22.3
Accrued liabilities, held for sale		14.8			14.8
Operating profit for the storage tanks business		16.6		$ 8.8	40.8		$ 26.9
Engineered Structures | Storage Tanks Business | Subsequent Event
Segment Reporting Information [Line Items]
Pre-tax net cash proceeds received at closing									$ 263.5
RAMCO | Construction Products
Segment Reporting Information [Line Items]
Acquisition price					75.6
Goodwill		11.7			11.7
Property, plant, and equipment		6.4			$ 6.4
RAMCO | Construction Products | Permits
Segment Reporting Information [Line Items]
Weighted average useful life					20 years
Finite-Lived Intangibles		54.2			$ 54.2
Southwest Rock | Construction Products
Segment Reporting Information [Line Items]
Acquisition price								149.7
Acquisition holdback payable								15
Mineral reserves		43.7			43.7
Goodwill		70.7			70.7
Property, plant, and equipment		28			28
StonePoint | Construction Products
Segment Reporting Information [Line Items]
Acquisition price								$ 372.8
Mineral reserves		198.8			198.8
Goodwill		87.7			87.7
Property, plant, and equipment		68.4			68.4
StonePoint | Construction Products | Customer relationships
Segment Reporting Information [Line Items]
Weighted average useful life								10 years
Finite-Lived Intangibles		$ 7.2			$ 7.2
[1](unaudited)

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		Sep. 30, 2022	Dec. 31, 2021
Assets:
Total assets		$ 1.6
Liabilities:
Contingent consideration liability	[1]	4.2	$ 6.7
Total liabilities		4.2	10.6
Interest Rate Swap
Assets:
Derivative asset	[2]	1.6
Liabilities:
Derivative liability	[3]		3.9
Level 1
Assets:
Total assets		0
Liabilities:
Contingent consideration liability	[1]	0	0
Total liabilities		0	0
Level 1 | Interest Rate Swap
Assets:
Derivative asset	[2]	0
Liabilities:
Derivative liability	[3]		0
Level 2
Assets:
Total assets		1.6
Liabilities:
Contingent consideration liability	[1]	0	0
Total liabilities		0	3.9
Level 2 | Interest Rate Swap
Assets:
Derivative asset	[2]	1.6
Liabilities:
Derivative liability	[3]		3.9
Level 3
Assets:
Total assets		0
Liabilities:
Contingent consideration liability	[1]	4.2	6.7
Total liabilities		4.2	6.7
Level 3 | Interest Rate Swap
Assets:
Derivative asset	[2]	$ 0
Liabilities:
Derivative liability	[3]		$ 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 non-current assets on the Consolidated Balance Sheets.[3]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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 603.9	$ 559.1	$ 1,742.5	$ 1,514.6
Operating profit (loss)	49	37.5	140.9	91.7
Total
Segment Reporting Information [Line Items]
Revenues	603.9	559.1	1,742.5	1,514.7
Operating profit (loss)	65.7	51.9	186.5	137.6
Corporate
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating profit (loss)	(16.7)	(14.4)	(45.6)	(45.9)
Intersegment | Eliminations
Segment Reporting Information [Line Items]
Revenues	0	0	0	(0.1)
Operating profit (loss)	0	0	0	0
Construction Products | Total
Segment Reporting Information [Line Items]
Revenues	244.2	227.4	701.6	585.1
Operating profit (loss)	27.6	26.8	72.4	60.5
Engineered Structures | Total
Segment Reporting Information [Line Items]
Revenues	277	250.1	796.1	699.6
Operating profit (loss)	37.1	23.6	106.9	70.2
Transportation Products | Total
Segment Reporting Information [Line Items]
Revenues	82.7	81.6	244.8	230
Operating profit (loss)	1	1.5	7.2	6.9
Aggregates and specialty materials | Construction Products
Segment Reporting Information [Line Items]
Revenues	216.8	202.3	620.9	519.1
Construction site support | Construction Products
Segment Reporting Information [Line Items]
Revenues	27.4	25.1	80.7	66
Utility, wind, and related structures | Engineered Structures
Segment Reporting Information [Line Items]
Revenues	211.2	189.4	608.5	545
Storage tanks | Engineered Structures
Segment Reporting Information [Line Items]
Revenues	65.8	60.7	187.6	154.6
Inland barges | Transportation Products
Segment Reporting Information [Line Items]
Revenues	50.9	58.4	151.7	165.3
Steel components | Transportation Products
Segment Reporting Information [Line Items]
Revenues	$ 31.8	$ 23.2	$ 93.1	$ 64.7

Segment Information - Narrative

Segment Information - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 segment
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	Sep. 30, 2022		Dec. 31, 2021
Components of property, plant, and equipment
Property, plant and equipment, at cost	$ 1,955.7		$ 1,964.9
Less accumulated depreciation	(784.3)		(763)
Property, plant, and equipment, net	1,171.4	[1]	1,201.9
Land
Components of property, plant, and equipment
Property, plant and equipment, at cost	136.9		137.3
Mineral reserves
Components of property, plant, and equipment
Property, plant and equipment, at cost	502.6		507.3
Buildings and improvements
Components of property, plant, and equipment
Property, plant and equipment, at cost	295.2		301
Machinery and other
Components of property, plant, and equipment
Property, plant and equipment, at cost	947.4		973.9
Construction in progress
Components of property, plant, and equipment
Property, plant and equipment, at cost	$ 73.6		$ 45.4
[1](unaudited)

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	Sep. 30, 2022		Dec. 31, 2021
Goodwill [Line Items]
Goodwill	$ 958.6	[1]	$ 934.9
Construction Products
Goodwill [Line Items]
Goodwill	484		460.3
Engineered Structures
Goodwill [Line Items]
Goodwill	437.6		437.6
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	Sep. 30, 2022		Dec. 31, 2021
Intangible Assets [Line Items]
Intangibles with indefinite lives - Trademarks	$ 34.1		$ 34.1
Intangibles with definite lives	282		226.8
Less accumulated amortization	(54.7)		(40.6)
Intangibles with definite lives, net	227.3		186.2
Intangibles, net	261.4	[1]	220.3
Customer relationships
Intangible Assets [Line Items]
Intangibles with definite lives	136.9		135.4
Permits
Intangible Assets [Line Items]
Intangibles with definite lives	141.7		87.5
Other
Intangible Assets [Line Items]
Intangibles with definite lives	$ 3.4		$ 3.9
[1](unaudited)

Debt - Components of debt (Deta

Debt - Components of debt (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Apr. 06, 2021	Jan. 02, 2020
Debt Instrument [Line Items]
Finance leases	$ 20.5	$ 16.3
Total debt, gross	716.1	685.7
Less: unamortized debt issuance costs	(5.6)	(6.2)
Total debt	710.5	679.5
Term loan
Debt Instrument [Line Items]
Term loan	140.6	144.4		$ 150
Senior notes | Unsecured Debt
Debt Instrument [Line Items]
Term loan	400	400	$ 400
Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Revolving credit facility	155	$ 125
Less: unamortized debt issuance costs	$ (1.1)

Debt - Remaining principal paym

Debt - Remaining principal payments under debt agreement (Details) $ in Millions	Sep. 30, 2022 USD ($)
Term loan
Debt Instrument [Line Items]
2022	$ 3.8
2023	8.4
2024	8.4
2025	120
2026	0
Thereafter	0
Senior notes | Unsecured Debt
Debt Instrument [Line Items]
2022	0
2023	0
2024	0
2025	0
2026	0
Thereafter	400
Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
2022	0	[1]
2023	0	[1]
2024	0	[1]
2025	155	[1]
2026	0	[1]
Thereafter	$ 0	[1]
[1] I n October 2022, the Company used $155.0 million of cash proceeds from the sale of the storage tanks business to repay the outstanding loans borrowed under its revolving credit facility, leaving $471.6 million available.

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Oct. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Apr. 06, 2021	Mar. 26, 2021	Jan. 02, 2020	Nov. 01, 2018
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 5.6		$ 6.2
Debt issuance costs		0	$ 6.6
Term loan
Debt Instrument [Line Items]
Term loan		140.6		144.4			$ 150
Senior notes | Unsecured Debt
Debt Instrument [Line Items]
Term loan		400		400	$ 400
Interest rate					4.375%
Estimated fair value		339.1
Debt issuance costs			$ 6.6
Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity							$ 500	$ 400
Revolving credit facility		155		$ 125
Line of credit facility, remaining borrowing capacity		316.6
Net borrowings		$ 30
Line of credit facility, unused commitment fee percent		0.30%
Unamortized debt issuance costs		$ 1.1
Revolving Credit Facility | Revolving credit facility | Subsequent Event
Debt Instrument [Line Items]
Repayments under revolving credit facility	$ 155
Line of credit facility, remaining borrowing capacity	$ 471.6
Revolving Credit Facility | Revolving credit facility | Minimum
Debt Instrument [Line Items]
LIBOR variable rate spread		1.25%
Line of credit facility, unused commitment fee percent		0.20%
Revolving Credit Facility | Revolving credit facility | Maximum
Debt Instrument [Line Items]
LIBOR variable rate spread		2%
Line of credit facility, unused commitment fee percent		0.35%
Letter of Credit | Revolving credit facility
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 28.4
Letters of credit outstanding expiring in current fiscal year		$ 3.3
364-Day Facility | Revolving credit facility | Unsecured Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 150
London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
LIBOR variable rate spread		1.75%
Designated as Hedging Instrument | Interest Rate Swap
Debt Instrument [Line Items]
Derivative, notional amount		$ 100
Derivative, fixed interest rate		2.71%
Derivative asset		$ 1.6

Leases - Minimum lease payments

Leases - Minimum lease payments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease payments, 2022 (remaining)	$ 2
Operating lease payments, 2023	7.2
Operating lease payments, 2024	6.3
Operating lease payments, 2025	5.5
Operating lease payments, 2026	4.4
Operating lease payments, thereafter	9.4
Operating lease payments	34.8
Operating lease payments, imputed interest	(2.4)
Operating lease payments, present value	32.4
Finance lease payments, 2022 (remaining)	1.7
Finance lease payments, 2023	6.9
Finance lease payments, 2024	6.8
Finance lease payments, 2025	5
Finance lease payments, 2026	1.3
Finance lease payments, thereafter	0.2
Finance lease payments	21.9
Finance lease liability, imputed interest	(1.4)
Finance leases	$ 20.5	$ 16.3

Leases - Balance Sheet Classifi

Leases - Balance Sheet Classification (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Right of use asset, Operating	$ 29.6	$ 20.9
Right of use asset, Operating	Other assets	Other assets
Right of use asset, Finance	$ 23.7	$ 16.9
Right of use asset, Finance	Property, plant, and equipment, net	Property, plant, and equipment, net
Right of use asset, Total	$ 53.3	$ 37.8
Lease liability, Current, Operating	$ 6.5	$ 4.8
Lease liability, Current, Operating	Accrued liabilities	Accrued liabilities
Lease liability, Current, Finance	$ 6.4	$ 6.3
Lease liability, Current, Finance	Current portion of long-term debt	Current portion of long-term debt
Lease liability, Non-current, Operating	$ 25.9	$ 19.1
Lease liability, Non-current, Operating	Other liabilities	Other liabilities
Lease liability, Non-current, Finance	$ 14.1	$ 10
Lease liability, Non-current, Finance	Debt	Debt
Lease liability, Total	$ 52.9	$ 40.2

Other, Net - Summary of other,

Other, Net - Summary of other, net (income) expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Other, net (income) expense
Interest income	$ 0	$ 0	$ (0.1)	$ (0.1)
Foreign currency exchange transactions	0	0.1	1.5	0.6
Other	(0.2)	0	(0.3)	(0.2)
Other, net (income) expense	$ (0.2)	$ 0.1	$ 1.1	$ 0.3

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	21.20%	21.30%	21.60%	19.90%
Statutory rate	21%	21%	21%	21%
CARES Act deferred payroll tax payments			$ 5.4

Employee Retirement Plans - Ret

Employee Retirement Plans - Retirement plan expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Retirement Benefits [Abstract]
Defined contribution plans	$ 3.4	$ 2.8	$ 10.2	$ 8.1
Multiemployer plan	0.4	0.4	1.2	1.4
Retirement expense	$ 3.8	$ 3.2	$ 11.4	$ 9.5

Employee Retirement Plans - Nar

Employee Retirement Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Retirement Benefits [Abstract]
Contributions to the multiemployer plan	$ 0.4	$ 0.4	$ 1.2	$ 1.3
Expected full year contributions by the employer to the multiemployer plan	$ 1.6		$ 1.6

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in accumulated other comprehensive loss (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity beginning balance	$ (16.3)	$ (16.6)
Other comprehensive income (loss), net of tax, before reclassifications	(0.6)	0.1
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)	(0.6)	0.1
Equity ending balance	(16.9)	(16.5)
Unrealized loss on derivative financial instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity beginning balance	(3)	(5.5)
Other comprehensive income (loss), net of tax, before reclassifications	3.2	0.8
Reclassification from accumulated other comprehensive income, current period, net of tax	0.9	1
Reclassification from AOCI, Current Period, Tax	(0.3)	(0.3)
Other comprehensive income (loss)	4.1	1.8
Equity ending balance	1.1	(3.7)
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity beginning balance	(19.3)	(22.1)
Other comprehensive income (loss), net of tax, before reclassifications	2.6	0.9
Reclassification from accumulated other comprehensive income, current period, net of tax	0.9	1
Reclassification from AOCI, Current Period, Tax	(0.3)	(0.3)
Other comprehensive income (loss)	3.5	1.9
Equity ending balance	$ (15.8)	$ (20.2)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement [Abstract]
Stock-based compensation	$ 5.4	$ 4	$ 15.5	$ 12.8

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Total weighted average restricted shares and antidilutive stock options	1.4	1.6	1.5	1.8
Earnings Per Share Reconciliation [Abstract]
Net income	$ 32	$ 23.7	$ 91.2	$ 60.4
Unvested restricted share participation	(0.1)	(0.1)	(0.4)	(0.4)
Net income per common share – basic	$ 31.9	$ 23.6	$ 90.8	$ 60
Net income - basic (shares)	48.3	48.2	48.2	48.1
Net income - basic (EPS)	$ 0.66	$ 0.49	$ 1.88	$ 1.25
Effect of dilutive securities:
Nonparticipating unvested restricted shares	$ 0	$ 0	$ 0	$ 0
Nonparticipating unvested restricted shares (shares)	0.2	0.4	0.3	0.5
Net income per common share – diluted	$ 31.9	$ 23.6	$ 90.8	$ 60
Net income - diluted (shares)	48.5	48.6	48.5	48.6
Net income - diluted (EPS)	$ 0.66	$ 0.49	$ 1.87	$ 1.23

Contingencies - Narrative (Deta

Contingencies - Narrative (Details) $ in Millions	Sep. 30, 2022 USD ($)
Accrued liabilities
Loss Contingencies [Line Items]
Total accruals	$ 0.8
Environmental and workplace matters
Loss Contingencies [Line Items]
Total accruals	0.8
Minimum
Loss Contingencies [Line Items]
Range of possible loss	0.3
Maximum
Loss Contingencies [Line Items]
Range of possible loss	$ 0.4