Texas Industries 8-K Results of Operations and Financial Condition

®	N E W S    F O R    I M M E D I A T E    R E L E A S E
	1341 West Mockingbird Lane   l  Dallas, Texas  75247   l  www.txi.com

TXI REPORTS SECOND QUARTER RESULTS

January 4, 2008 - Dallas, Texas - Texas Industries, Inc. (NYSE-TXI) today reported net income for the quarter ended November 30, 2007 of $29.3 million ($1.05 per share).  For the same period ended November 30, 2006, net income equaled $28.7 million ($1.09 per share).  Last year’s quarter included $12.9 million ($.47 per share) in after-tax income as a result of cash received from the settlement of the U.S. antidumping order on Mexican cement.

“After a year of exceptionally wet weather, product shipments in our Texas markets recovered nicely in the November quarter as weather returned to more normal patterns,” stated Mel Brekhus, Chief Executive Officer.  “The improved weather also provided the opportunity to show the progress made in improving operating margins for TXI’s aggregate and concrete operations.”

In the November quarter, shipments of cement, aggregates and ready-mix concrete increased 6%, 8% and 7%, respectively compared to the prior year’s quarter.  Average realized prices for cement declined about 2% due to a shift in the mix of cement products and markets. Aggregate and ready-mix concrete realized prices improved 8% and 7%.

The November quarter benefited from the absence of major scheduled maintenance at the North Texas cement plant while scheduled maintenance at the plant last year negatively impacted pretax earnings by approximately $10 million.  In California, production quantities and efficiencies associated with old equipment lagged behind those of last year’s quarter, reducing pretax earnings by approximately $7 million. 

Selling, general and administrative expenses declined $9.1 million compared to the prior year’s quarter.  Stock-based compensation declined $5.3 million; the remaining decrease in selling, general and administrative expenses was primarily due to lower incentive compensation expense.  Interest expense declined from $4.4 million in last year’s quarter to zero as all interest expense was capitalized in conjunction with cement plant modernization and expansion projects.  Other income declined $21.4 million compared to a year ago.  Last year’s quarter included $19.8 million of pretax income from the settlement of the long-standing U.S. antidumping order on Mexican cement.  The remaining decline in other income was due to lower real estate and interest income.

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TXI REPORTS SECOND QUARTER RESULTS

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Texas cement consumption has remained approximately even with that of a year ago, despite a decline in residential construction.  The announced cement price increase for Texas of $10 per ton should be effective by April 2008.  In California, reductions in cement demand have been offset by declining imports. Cement prices in California have remained fairly stable.

“The commissioning of TXI’s new cement capacity in California is proceeding slower than expected and we anticipate that the plant will be fully operational in June of 2008 instead of May as originally planned,” continued Brekhus.  “The California project will add one million tons of additional cement production and also replace 1.3 million tons of older, less efficient production equipment as well.  This project, the new kiln line at TXI’s Central Texas plant and the incremental addition of production at our North Texas plant are expected to increase TXI’s total annual cement production from today’s 5 million tons to almost 8 million tons over the next three to four years.”

A teleconference will be held today, January 4, 2008 at 1:00 p.m. Central Time to further discuss Second Quarter results.  A real-time webcast of the conference is available by logging on to TXI’s website at www.txi.com.

Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward looking statements.  Potential risks and uncertainties include, but are not limited to, the impact of competitive pressures and changing economic and financial conditions on the Company’s business, construction activity in the Company’s markets, abnormal periods of inclement weather, unexpected periods of equipment downtime, changes in costs of raw materials, fuel and energy, the impact of environmental laws and other regulations and risks and uncertainties described in the Company’s reports on SEC Forms 10-K, 10-Q and 8-K.

TXI is the largest producer of cement in Texas and a major cement producer in California. TXI is also a major supplier of construction aggregates, ready-mix concrete and concrete products. 

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CONSOLIDATED STATEMENTS OF OPERATIONS

TEXAS INDUSTRIES, INC. AND SUBSIDIARIES

	Three months ended November 30,						Six months ended November 30,
In thousands except per share	2007			2006			2007			2006
NET SALES	$	268,473		$	245,832		$	531,927		$	517,484
Cost of products sold		208,271			194,057			425,708			399,395
GROSS PROFIT		60,202			51,775			106,219			118,089
Selling, general and administrative		21,064			30,147			43,247			51,205
Interest		--			4,643			--			10,185
Other income		(3,442	)		(24,800	)		(5,695	)		(28,351	)
		17,622			9,990			37,552			33,039
INCOME BEFORE INCOME TAXES		42,580			41,785			68,667			85,050
Income taxes		13,265			13,133			21,438			26,967
NET INCOME	$	29,315		$	28,652		$	47,229		$	58,083
Net income per share
Basic	$	1.07		$	1.19		$	1.73		$	2.42
Diluted	$	1.05		$	1.09		$	1.69		$	2.21
Average shares outstanding
Basic		27,348			24,001			27,340			23,980
Diluted		27,849			27,602			27,873			27,558
Cash dividends per share	$	.075		$	.075		$	.15		$	.15
Major product shipments
Cement (tons)		1,319			1,239			2,609			2,627
Stone, sand and gravel (tons)		5,863			5,573			11,414			12,034
Ready-mix concrete (cubic yards)		1,050			979			2,048			1,959
Major product prices
Cement ($/ton)	$	92.88		$	94.85		$	94.27		$	94.66
Stone, sand and gravel ($/ton)		7.39			6.83			7.28			6.71
Ready-mix concrete ($/cubic yard)		80.19			74.76			80.18			74.33

CONSOLIDATED BALANCE SHEETS

TEXAS INDUSTRIES, INC. AND SUBSIDIARIES

	Unaudited November 30,			May 31,
In thousands	2007			2007
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	26,216		$	15,138
Receivables - net		163,990			142,610
Inventories		112,824			121,467
Deferred income taxes and prepaid expenses		19,785			17,621
TOTAL CURRENT ASSETS		322,815			296,836
OTHER ASSETS
Goodwill		60,110			58,395
Real estate and investments		48,037			111,414
Deferred charges and intangibles		12,097			11,369
		120,244			181,178
PROPERTY, PLANT AND EQUIPMENT
Land and land improvements		134,227			132,992
Buildings		40,868			41,485
Machinery and equipment		774,832			752,531
Construction in progress		492,518			362,646
		1,442,445			1,289,654
Less depreciation and depletion		517,557			505,432
		924,888			784,222
	$	1,367,947		$	1,262,236
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	115,408		$	109,749
Accrued interest, wages and other items		50,568			57,891
Current portion of long-term debt		217			1,340
TOTAL CURRENT LIABILITIES		166,193			168,980
LONG-TERM DEBT		334,517			274,416
DEFERRED INCOME TAXES AND OTHER CREDITS		89,014			90,358
SHAREHOLDERS’ EQUITY
Common stock, $1 par value		27,355			27,323
Additional paid-in capital		454,860			448,289
Retained earnings		300,214			257,087
Accumulated other comprehensive loss		(4,206	)		(4,217	)
		778,223			728,482
	$	1,367,947		$	1,262,236

CONSOLIDATED STATEMENTS OF CASH FLOWS

TEXAS INDUSTRIES, INC. AND SUBSIDIARIES

	Six months ended November 30,
In thousands	2007			2006
OPERATING ACTIVITIES
Net income	$	47,229		$	58,083
Adjustments to reconcile net income to cash provided by operating activities
Gain on asset disposals		(917	)		(539	)
Depreciation, depletion and amortization		27,164			22,284
Deferred income taxes		1,127			8,511
Stock-based compensation expense (credit)		(1,325	)		6,267
Excess tax benefits from stock-based compensation		(3,383	)		(1,563	)
Other - net		(945	)		(2,724	)
Changes in operating assets and liabilities
Receivables - net		(21,357	)		2,816
Inventories		8,643			1,562
Prepaid expenses		1,920			2,365
Accounts payable and accrued liabilities		2,320			13,556
Net cash provided by operating activities		60,476			110,618
INVESTING ACTIVITIES
Capital expenditures - expansions		(138,364	)		(107,855	)
Capital expenditures - other		(36,724	)		(39,601	)
Proceeds from asset disposals		2,366			775
Purchases of short-term investments		--			(8,500	)
Sales of short-term investments		--			49,000
Investments in life insurance contracts		65,529			(4,274	)
Other - net		55			(105	)
Net cash used by investing activities		(107,138	)		(110,560	)
FINANCING ACTIVITIES
Long-term borrowings		189,000			--
Debt retirements		(130,237	)		(355	)
Debt issuance costs		(1,033	)		--
Stock option exercises		730			1,843
Excess tax benefits from stock-based compensation		3,383			1,563
Common dividends paid		(4,103	)		(3,600	)
Net cash provided (used) by financing activities		57,740			(549	)
Increase (decrease) in cash and cash equivalents		11,078			(491	)
Cash and cash equivalents at beginning of period		15,138			84,139
Cash and cash equivalents at end of period	$	26,216		$	83,648

Texas Industries, Inc.

Consolidated Statements of Operations

In $ Thousands

	FY2003			FY2004			FY2005						FY2006			FY2007												FY2008
										Q1						Q3			Q4			Total			Q1			Q2			Q3		Q4		Total
Shipments
Cement (Thousands of Tons)		4,900			5,298			5,394			1,342			5,136			1,122			1,325			5,074			1,290			1,319							2,609
Aggregates (Thousands of Tons)		19,003			22,282			23,616			7,313			25,246			4,527			5,553			22,114			5,551			5,863							11,414
Ready-mix (Thousands of Cubic Yards)		3,513			3,562			3,678			1,041			3,830			736			970			3,665			998			1,050							2,048
Price
Cement ($ per Ton)		68.90			68.48			75.05			82.02			87.14			95.50			95.51			95.06			95.69			92.88							94.28
Aggregates ($ per Ton)		5.55			5.43			5.68			5.73			6.08			7.30			7.51			7.03			7.17			7.39							7.28
Ready-mix ($ per Cubic Yard)		57.88			57.94			60.54			66.99			69.25			77.49			77.81			75.87			80.17			80.19							80.19
Net Sales		-
Cement		337,624			362,824			404,823			110,075			447,594			107,143			126,551			482,379			123,423			122,586							246,009
Aggregates		105,521			120,997			134,220			41,893			153,480			33,043			41,730			155,562			39,804			43,324							83,128
Ready-mix		203,349			206,394			222,680			69,753			265,254			57,007			75,476			278,067			79,990			84,233							164,223
Other		117,810			116,108			104,847			28,748			118,555			26,048			31,081			119,798			32,175			31,375							63,550
Interplant		(100,478	)		(98,353	)		(105,576	)		(29,479	)		(121,127	)		(23,890	)		(32,992	)		(118,406	)		(32,432	)		(34,750	)						(67,182	)
Delivery Fees		54,292			59,209			73,809			20,894			80,166			17,420			20,149			78,850			20,494			21,705							42,199
Net Sales		718,118			767,179			834,803			241,884			943,922			216,771			261,995			996,250			263,454			268,473			-		-		531,927
Costs and Expenses (Income)
Cost of Products Sold		596,737			637,347			692,414			194,221			766,941			169,702			191,063			760,160			217,437			208,271							425,708
Selling, General and Administrative		70,666			74,814			78,434			23,228			88,663			27,476			29,425			108,106			22,183			21,064							43,247
Interest		14,827			24,102			23,533			9,264			31,155			3,289			600			14,074			-			-							-
Loss on Debt Retirements and Spin-off Charges					12,302			894			112,284			113,247			26			22			48			-			-							-
Other Income		(4,762	)		(40,482	)		(22,727	)		(4,141	)		(47,270	)		(3,273	)		(5,005	)		(36,629	)		(2,253	)		(3,442	)						(5,695	)
		677,468			708,083			772,548			334,856			952,736			197,220			216,105			845,759			237,367			225,893			-		-		463,260
Income from Continuing Operations
Before Income Taxes		40,650			59,096			62,255			(92,972	)		(8,814	)		19,551			45,890			150,491			26,087			42,580			-		-		68,667
Income Taxes		13,485			16,819			16,811			(32,948	)		(8,225	)		6,838			15,779			49,584			8,173			13,265							21,438
Income from Continuing Operations		27,165			42,277			45,444			(60,024	)		(589	)		12,713			30,111			100,907			17,914			29,315			-		-		47,229
Income (Loss) from Discontinued Operations - net of Income Taxes		(51,362	)		(4,378	)		79,079			8,691			8,691									-													-
Income (Loss) before Accounting Change		(24,197	)		37,899			124,523			(51,333	)		8,102			12,713			30,111			100,907			17,914			29,315			-		-		47,229
Cumulative Effect of Accounting Change - net of
Income Taxes		-			(1,551	)		-			-			-			-			-			-			-			-			-		-		-
Net Income		(24,197	)		36,348			124,523			(51,333	)		8,102			12,713			30,111			100,907			17,914			29,315			-		-		47,229

Texas Industries, Inc.

Consolidated Balance Sheets

In $ Thousands

	5/31/2004		8/31/2005		5/31/2006		2/28/2007		5/31/2007		8/31/2007		11/30/2007
Cash		133,053		137,503		84,139		20,365		15,138		5,165		26,216
Short-term Investments		-		-		50,606		-		-		-		-
Accounts Receivable		108,364		117,817		132,849		126,527		142,610		160,079		163,990
Inventories		89,373		87,961		102,052		114,751		121,467		112,517		112,824
Deferred Income Taxes and Prepaid Expenses		31,553		30,072		33,599		18,779		17,621		13,047		19,785
Total Current Assets		362,343		373,353		403,245		280,422		296,836		290,808		322,815
Goodwill		61,307		61,307		58,395		58,395		58,395		58,395		60,110
Real Estate and Investments		42,430		100,597		125,913		132,884		111,414		112,217		48,037
Deferred Income Taxes, Intangibles and Other Charges		39,259		36,805		22,706		16,097		11,369		12,031		12,097
Net Assets of Discontinued Operations		798,353		-		-		-		-		-		-
		941,349		198,709		207,014		207,376		181,178		182,643		120,244
Property, Plant and Equipment		865,133		885,833		953,474		1,184,578		1,289,654		1,366,431		1,442,445
Accumulated Depreciation		452,324		474,458		483,163		511,406		505,432		510,881		517,557
Net Property, Plant and Equipment		412,809		411,375		470,311		673,172		784,222		855,550		924,888
Total Assets		1,716,501		983,437		1,080,570		1,160,970		1,262,236		1,329,001		1,367,947
Accounts Payable		53,497		66,396		63,581		74,810		109,749		94,516		115,408
Accrued Interest, Wages and Other Items		38,833		31,966		55,059		45,354		57,891		41,710		50,568
Current Portion of Long Term Debt		699		687		681		1,475		1,340		213		217
Total Current Liabilities		93,029		99,049		119,321		121,639		168,980		136,439		166,193
Long Term Debt		598,412		252,188		251,505		250,358		274,416		353,585		334,517
Convertible Subordinated Debentures		199,937		199,937		159,725		92,370		-		-		-
Deferred Income Taxes and Other Credits		63,139		63,961		76,955		87,987		90,358		89,400		89,014
Shareholders Equity		761,984		368,302		473,064		608,616		728,482		749,577		778,223
Total Liabilities and Shareholders Equity		1,716,501		983,437		1,080,570		1,160,970		1,262,236		1,329,001		1,367,947
-		-		-		-						-		-

Texas Industries, Inc.

Consolidated Statements of Cash Flows

In $ Thousands

	FY2003			FY2004			FY2005			FY2006						FY2007												FY2008
										Q1			Total			Q3			Q4			Total			Q1			Q2			Q3		Q4		Total
CONTINUING OPERATIONS
Operating Activities
Income from Continuing Operations		27,165			42,277			45,444			(60,024	)		(589	)		12,713			30,111			100,907			17,914			29,315			-		-		47,229
Adjustments to Reconcile Income from Continuing
Operations to Cash Provided (Used) by
Continuing Operating Activities
Loss on Debt Retirements		-			12,302			-			107,001			107,006			26			22			48			-										-
Loss (Gain) on Asset Disposals		687			(37,997	)		(6,582	)		(355	)		(34,768	)		(31	)		(2,347	)		(2,917	)		(455	)		(462	)						(917	)
Depreciation, Depletion and Amortization		49,196			47,409			46,474			11,185			44,955			11,572			12,500			46,356			13,318			13,846							27,164
Deferred Income Taxes (Benefit)		(27,726	)		319			33,811			(31,832	)		6,581			8,319			(5,476	)		11,354			513			614							1,127
Other - Net		6,000			5,391			8,889			(161	)		7,570			8,174			5,252			15,406			(5,146	)		(507	)						(5,653	)
Changes in Operating Assets and Liabilities														-									-													-
Receivables Sold		(7,321	)		(72,032	)		-			-			-									-			-										-
Accounts Receivable - Net		(1,258	)		1,052			(8,873	)		211			(5,060	)		1,724			(3,694	)		846			(17,458	)		(3,899	)						(21,357	)
Inventories		(1,635	)		1,664			6,082			(4,670	)		(18,761	)		(13,821	)		(6,716	)		(18,975	)		8,950			(307	)						8,643
Prepaid Expenses		2,099			(5,744	)		(1,680	)		(791	)		63			1,545			(2,518	)		1,392			1,735			185							1,920
Accounts Payable and Accrued Liabilities		3,889			(3,011	)		17,017			(11,198	)		(12,155	)		(15,088	)		33,073			31,541			(5,319	)		7,639							2,320
Other Credits		2,819			7,375			3,838			4,993			2,527			-			-			-			-										-
Cash Provided (Used) by Continuing Operations		53,915			(995	)		144,420			14,359			97,369			15,133			60,207			185,958			14,052			46,424			-		-		60,476
Investing Activities
Capital Expenditures		(32,327	)		(15,887	)		(46,178	)		(10,321	)		(110,245	)		(88,983	)		(81,219	)		(317,658	)		(103,592	)		(71,496	)						(175,088	)
Proceeds from Asset Disposals		11,258			47,243			7,136			817			23,107			186			4,591			5,552			1,288			1,078							2,366
Purchases of Short-term Investments - net														(50,500	)		10,000			-			50,500			-										-
Investments in Insurance Contracts		(713	)		(1,162	)		(58,798	)		(1,028	)		(4,366	)		(1,014	)		(773	)		(6,061	)		(415	)		65,944							65,529
Other - Net		2,961			(2,875	)		(677	)		1,605			612			(20	)		(211	)		(336	)		(24	)		79							55
Cash Provided (Used) by Investing Activities		(18,821	)		27,319			(98,517	)		(8,927	)		(141,392	)		(79,831	)		(77,612	)		(268,003	)		(102,743	)		(4,395	)		-		-		(107,138	)
Financing Activities
Long Term Borrowings		366,640			718,097			-			250,000			250,000			-			38,000			38,000			124,000			65,000							189,000
Debt Retirements		(371,344	)		(592,398	)		(699	)		(600,009	)		(600,700	)		(930	)		(24,236	)		(25,521	)		(46,173	)		(84,064	)						(130,237	)
Debt Issuance Costs		(1,458	)		(16,378	)		(39	)		(7,051	)		(7,363	)		-			-			-			(944	)		(89	)						(1,033	)
Debt Retirement Costs					(8,605	)		-			(96,024	)		(96,029	)		(4	)		(2	)		(6	)		-										-
Interest Rate Swap Terminations					8,358			(6,315	)		-			-			-			-			-			-										-
Stock Option Exercises		512			2,541			41,399			3,853			7,510			4,133			418			6,394			599			131							730
Common Dividends Paid		(6,315	)		(6,336	)		(6,643	)		(1,711	)		(6,908	)		(1,868	)		(2,049	)		(7,517	)		(2,051	)		(2,052	)						(4,103	)
Other - Net		(1,961	)		(26	)		-			-			-			84			47			1,694			3,287			96							3,383
Cash Provided (Used) by Financing Activities		(13,926	)		105,253			27,703			(450,942	)		(453,490	)		1,415			12,178			13,044			78,718			(20,978	)		-		-		57,740
Net Cash Provided (Used) by Continuing Operations		21,168			131,577			73,606			(445,510	)		(497,513	)		(63,283	)		(5,227	)		(69,001	)		(9,973	)		21,051			-		-		11,078
DISCONTINUED OPERATIONS
Cash Provided (Used) by Discontinued Operating Activities		(5,797	)		12,668			73,104			(6,587	)		(7,778	)								-													-
Cash Used by Discontinued Investing Activities		(23,265	)		(14,068	)		(28,163	)		(2,712	)		(2,757	)								-													-
Cash Used by Discontinued Financing Activities		(2,117	)		-			-			340,712			340,587									-													-
Net Cash Provided (Used) by Discontinued Operations		(31,179	)		(1,400	)		44,941			331,413			330,052			-			-			-			-			-			-		-		-
Increase (Decrease) in Cash and Cash Equivalents		(10,011	)		130,177			118,547			(114,097	)		(167,461	)		(63,283	)		(5,227	)		(69,001	)		(9,973	)		21,051			-		-		11,078
Beginning Cash and Cash Equivalents		12,887			2,876			133,053			251,600			251,600			83,648			20,365			84,139			15,138			5,165							15,138
Ending Cash and Cash Equivalents		2,876			133,053			251,600			137,503			84,139			20,365			15,138			15,138			5,165			26,216			-		-		26,216

Texas Industries, Inc.

Reconciliation of EBITDA to Net Income and Cash Provided (Used) by Continuing Operations

In $ Thousands

	FY2003		FY2004		FY2005		FY2006						FY2007								FY2008
							Q1			Total			Q3		Q4		Total		Q1		Q2		Q3		Q4		Total
EBITDA Defined
Net Income (Loss) from Continuing Operations		27,165		42,277		45,444		(60,024	)		(589	)		12,713		30,111		100,907		17,914		29,315		-		-		47,229
Plus (minus):
Interest		14,827		24,102		23,533		9,264			31,155			3,289		600		14,074		-		-		-		-		-
Income Taxes (Benefit)		13,485		16,819		16,811		(32,948	)		(8,225	)		6,838		15,779		49,584		8,173		13,265		-		-		21,438
Depreciation, Depletion & Amortization		49,196		47,409		46,474		11,185			44,955			11,572		12,500		46,356		13,318		13,846		-		-		27,164
Loss on Early Retirement of Debt and Spin-off Charges		-		12,302		894		112,284			113,247			26		22		48		-		-		-		-		-
EBITDA		104,673		142,909		133,156		39,761			180,543			34,438		59,012		210,969		39,405		56,426		-		-		95,831

EBITDA represents income from continuing operations before interest, income taxes, depreciation and amortization, and loss on early retirement of debt

EBITDA is presented because we believe it is a useful indicator of our performance and our ability to meet debt service and capital expenditure requirements.

It is not, however, intended as an alternative measure of operating results or cash flow from operations as determined in accordance with generally accepted accounting principles.

EBITDA is not necessarily comparable to similarly titled measures used by other companies.

EBITDA Reconciliation
Cash from Continuing Operating Activities	53,915		(995	)	144,420		14,359		97,369		15,133		60,207		185,958		14,052		46,424		-	-	60,476
Plus (minus):
Changes in Operating Assets and Liabilities	1,407		70,696		(16,384	)	11,455		33,386		25,640		(20,145	)	(14,804	)	12,092		(3,618	)	-	-	8,474
Deferred Taxes (Benefit)	27,726		(319	)	(33,811	)	31,832		(6,581	)	(8,319	)	5,476		(11,354	)	(513	)	(614	)	-	-	(1,127	)
Income Taxes (Benefit)	13,485		16,819		16,811		(32,948	)	(8,225	)	6,838		15,779		49,584		8,173		13,265		-	-	21,438
Loss (Gain) on Disposal of Assets	(687	)	37,997		6,582		355		34,768		31		2,347		2,917		455		462		-	-	917
Interest	14,827		24,102		23,533		9,264		31,155		3,289		600		14,074		-		-		-	-	-
Spin-off Charges	-		-		894		5,283		6,241		-		-		-		-		-		-	-	-
Other - net	(6,000	)	(5,391	)	(8,889	)	161		(7,570	)	(8,174	)	(5,252	)	(15,406	)	5,146		507		-	-	5,653
EBITDA	104,673		142,909		133,156		39,761		180,543		34,438		59,012		210,969		39,405		56,426		-	-	95,831

Texas Industries, Inc.

Business Segment Summary

$Thousands

	FY2004			FY2005			FY2006						FY2007												FY2008
				Total			Q1			Total			Q3			Q4			Total			Q1			Q2			Q3		Q4		Total
Segment Net Sales (Including Delivery Fees)
Cement		383,623			431,895			116,202			471,482			111,885			132,578			504,923			129,497			129,234							258,731
Aggregates		206,970			225,972			67,643			256,109			60,573			71,611			273,958			71,863			75,958							147,821
Consumer Products		274,939			282,512			87,518			337,458			68,203			90,798			335,775			94,526			98,031							192,557
Eliminations		(98,353	)		(105,576	)		(29,479	)		(121,127	)		(23,890	)		(32,992	)		(118,406	)		(32,432	)		(34,750	)						(67,182	)
Total Net Sales		767,179			834,803			241,884			943,922			216,771			261,995			996,250			263,454			268,473			-		-		531,927
Operating Profit
Cement		66,069			82,719			26,341			110,953			36,470			45,381			172,331			17,218			33,950							51,168
Aggregtates		19,047			29,902			7,907			48,339			1,320			10,517			31,251			11,660			11,085							22,745
Consumer Products		11,013			5,259			4,236			10,349			(1,742	)		5,324			9,846			4,077			4,607							8,684
Unallocated Overhead and Other Income		26,680			(4,307	)		(2,393	)		(10,181	)		(3,257	)		(3,683	)		(11,728	)		(1,734	)		(1,746	)						(3,480	)
Total Operating Profit		122,809			113,573			36,091			159,460			32,791			57,539			201,700			31,221			47,896			-		-		79,117
Corporate
Selling, General and Administrative		(28,658	)		(33,272	)		(10,881	)		(39,110	)		(11,359	)		(11,566	)		(45,194	)		(5,809	)		(7,379	)						(13,188	)
Interest		(24,102	)		(23,533	)		(9,264	)		(31,155	)		(3,289	)		(600	)		(14,074	)		-										-
Loss on Debt Retirements and Spin-off Charges		(12,302	)		(894	)		(112,284	)		(113,247	)		(26	)		(22	)		(48	)		-										-
Other Income		1,349			6,381			3,366			15,238			1,434			539			8,107			675			2,063							2,738
Income (loss) from Continuing Operations		59,096			62,255			(92,972	)		(8,814	)		19,551			45,890			150,491			26,087			42,580			-		-		68,667
before Income Taxes
Major Gains (Losses) in Other Income
Unallocated Overhead - Sale of Brick Assets		34,710			-			-			-			-			-			-			-			-			-		-		-
Aggregates - Sale of Emissions Credits		-			6,225			-			-			-			-			-			-			-			-		-		-
Aggregates - Sale of Real Estate		-			-			-			23,987			-			-			-			-			-			-		-		-
Cement - Cement Antidumping Settlement		-			-			-			-			-			-			19,803			-			-			-		-		-