Texas Industries 8-K Results of Operations and Financial Condition

EXHIBIT 99.1

TXI Reports Third Quarter Results

DALLAS, March 23, 2011 (GLOBE NEWSWIRE) -- Texas Industries, Inc. (NYSE:TXI) today reported financial results for the quarter ended February 28, 2011. Results for the quarter were a net loss of $20.9 million or $.75 per share. Results for the quarter ended February 28, 2010 were a net loss of $27.1 million or $.98 per share.

General Comments

"Shipments were up compared to the same period a year ago," stated Mel Brekhus, Chief Executive Officer. "However, since we had abnormally inclement weather in both periods, we will not know how much of the increase is attributable to improved market conditions until we see the extent of the weather related rebound in our fourth quarter."

"We continue to focus on meeting market demand as cost effectively as possible," added Brekhus. "We resumed construction of TXI's central Texas cement plant expansion last quarter and that project is proceeding as planned."

A teleconference will be held tomorrow, March 24, 2011 at 10:00 Central Daylight Time to further discuss quarter results. A real-time webcast of the conference is available by logging on to TXI's website at www.txi.com.

The following is a summary of operating results for our business segments and certain other operating information related to our principal products.

Cement Operations

	Three months ended  February 28,		Nine months ended  February 28,
In thousands except per unit	2011	2010	2011	2010
Operating Results
Total cement sales	$ 54,018	$ 52,322	$ 183,307	$ 192,508
Total other sales and delivery fees	6,144	5,296	21,815	18,489
Total segment sales	60,162	57,618	205,122	210,997
Cost of products sold	70,010	70,616	203,194	198,834
Gross profit (loss)	(9,848)	(12,998)	1,928	12,163
Selling, general and administrative	(3,286)	(3,715)	(12,097)	(12,748)
Other income	696	411	3,643	6,824
Operating Profit (Loss)	$ (12,438)	$ (16,302)	$ (6,526)	$ 6,239
Cement
Shipments (tons)	704	639	2,361	2,292
Prices ($/ton)	$76.75	$81.82	$77.64	$83.96
Cost of sales ($/ton)	$90.43	$101.70	$77.67	$78.96

Three months ended February 28, 2011

Cement operating loss for the three-month periods ended February 28, 2011 and February 28, 2010 was $12.4 million and $16.3 million, respectively. Higher shipments offset in part by lower sales prices increased total sales $2.5 million from the prior year period.

Total segment sales for the three-month period ended February 28, 2011 were $60.2 million compared to $57.6 million for the prior year period. Cement sales increased $1.7 million from the prior year period as construction activity has remained at low levels in both our Texas and California market areas. Our Texas market area accounted for approximately 72% of cement sales in the current period compared to 73% of cement sales in the prior year period. Average cement prices decreased 7% in our Texas market area and 5% in our California market area. Shipments increased 9% in our Texas market area and 13% in our California market area.

Cost of products sold for the three-month period ended February 28, 2011 decreased $0.6 million from the prior year period. The effect of higher shipments was offset by lower energy and raw material costs and the effect of higher clinker production. Cement unit costs decreased 11% from the prior year period. 

Selling, general and administrative expense for the three-month period ended February 28, 2011 decreased $0.4 million from the prior year period. The decrease was primarily due to lower provisions for bad debts and defined benefit plan expense.

Other income for the three-month period ended February 28, 2011 increased $0.3 million from the prior year period. The increase was primarily due to higher gains from routine sales of surplus operating assets.

Aggregate Operations

	Three months ended  February 28,		Nine months ended  February 28,
In thousands except per unit	2011	2010	2011	2010
Operating Results
Total stone, sand and gravel sales	$ 18,212	$ 14,849	$ 67,449	$ 62,860
Total other sales and delivery fees	16,692	14,410	58,507	52,787
Total segment sales	34,904	29,259	125,956	115,647
Cost of products sold	32,323	28,882	110,735	100,038
Gross profit	2,581	377	15,221	15,609
Selling, general and administrative	(2,679)	(1,937)	(8,552)	(7,131)
Other income	16	409	1,706	1,239
Operating Profit (Loss)	$ (82)	$ (1,151)	$ 8,375	$ 9,717
Stone, sand and gravel
Shipments (tons)	2,470	1,947	9,080	8,012
Prices ($/ton)	$7.38	$7.62	$7.43	$7.85
Cost of sales ($/ton)	$7.23	$8.41	$6.69	$7.04

Three months ended February 28, 2011

Aggregate operating loss for the three-month periods ended February 28, 2011 and February 28, 2010 was $0.1 million and $1.2 million, respectively. 

Total segment sales for the three-month period ended February 28, 2011 were $34.9 million compared to $29.3 million for the prior year period. Stone, sand and gravel sales increased $3.4 million from the prior year period on 27% higher shipments and 3% lower average prices.

Cost of products sold for the three-month period ended February 28, 2011 increased $3.4 million from the prior year period primarily due to higher shipments. Stone, sand and gravel unit costs decreased 14% from the prior year period primarily due to the effect of higher shipments on unit costs.

Selling, general and administrative expense for the three-month period ended February 28, 2011 increased $0.7 million from the prior year period primarily due to higher provisions for casualty insurance claims.

Other income for the three-month period ended February 28, 2011 decreased $0.4 million from the prior year period primarily due to lower gains from routine sales of surplus operating assets.

Consumer Products Operations

	Three months ended  February 28,		Nine months ended  February 28,
In thousands except per unit	2011	2010	2011	2010
Operating Results
Total ready-mix concrete sales	$ 34,351	$ 33,695	$ 129,834	$ 129,468
Total other sales and delivery fees	10,998	10,832	38,813	39,050
Total segment sales	45,349	44,527	168,647	168,518
Cost of products sold	47,443	45,203	166,982	158,610
Gross profit (loss)	(2,094)	(676)	1,665	9,908
Selling, general and administrative	(2,607)	(1,421)	(8,330)	(7,374)
Other income	66	115	398	516
Operating Profit (Loss)	$ (4,635)	$ (1,982)	$ (6,267)	$ 3,050
Ready-mix concrete
Shipments (cubic yards)	471	427	1,715	1,540
Prices ($/cubic yard)	$72.83	$79.17	$75.66	$84.12
Cost of sales ($/cubic yard)	$80.71	$84.35	$77.97	$81.48

Three months ended February 28, 2011

Consumer products operating loss for the three-month periods ended February 28, 2011 and February 28, 2010 was $4.6 million and $2.0 million, respectively. Reduced margins due to lower sales prices increased operating loss from the prior year period.

Total segment sales for the three-month period ended February 28, 2011 were $45.3 million compared to $44.5 million for the prior year period. Ready-mix concrete sales for the three-month period ended February 28, 2011 increased $0.7 million from the prior year period on 8% lower average prices and 10% higher shipments. 

Cost of products sold for the three-month period ended February 28, 2011 increased $2.2 million from the prior year period primarily due to higher shipments. Ready-mix concrete unit costs decreased 4% from the prior year period primarily due to the effect of higher shipments and lower raw material costs offset in part by higher repair and maintenance costs.

Selling, general and administrative expense for the three-month period ended February 28, 2011 increased $1.2 million from the prior year period primarily due to higher provisions for bad debts and casualty insurance claims.

Other income for the three-month period ended February 28, 2011 was comparable to the prior year period.

Corporate

	Three months ended  February 28,		Nine months ended  February 28,
In thousands	2011	2010	2011	2010
Other income	$ 337	$ 109	$ 2,187	$ 845
Selling, general and administrative	(8,747)	(10,495)	(23,024)	(26,455)
	$ (8,410)	$ (10,386)	$ (20,837)	$ (25,610)

Three months ended February 28, 2011

Other income for the three-month period ended February 28, 2011 increased $0.2 million from the prior year period primarily due to higher oil and gas royalty payments offset in part by lower interest income.

Selling, general and administrative expense for the three-month period ended February 28, 2011 decreased $1.7 million from the prior year period. The decrease was primarily the result of lower provisions for casualty insurance claims and property tax expense.

Interest

Interest expense incurred for the three-month period ended February 28, 2011 was $17.3 million, of which $7.6 million was capitalized in connection with our Hunter, Texas cement plant expansion project and $9.7 million was expensed. Interest expense incurred for the three-month period ended February 28, 2010 was $13.6 million, all of which was expensed.

Interest expense incurred for the three-month period ended February 28, 2011 increased from the prior year period primarily as a result of higher average outstanding debt at higher interest rates due to the August 2010 refinancing of our 7.25% senior notes. 

Income Taxes

Income taxes for the interim periods ended February 28, 2011 and February 28, 2010 have been included in the accompanying financial statements on the basis of an estimated annual rate. The estimated annualized rate does not include the tax impact of the loss on debt retirements which has been recognized as a discrete item in the nine-month period ended February 28, 2011. The estimated annualized rate excluding this charge is 40.2% for fiscal year 2011 compared to 38.3% for fiscal year 2010. 

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 our business, the cyclical and seasonal nature of our business, the level of construction activity in our markets, abnormal periods of inclement weather, unexpected periods of equipment downtime, unexpected operational difficulties, changes in the cost of raw materials, fuel and energy, changes in the cost or availability of transportation, changes in interest rates, the timing and amount of federal, state and local funding for infrastructure, delays in announced capacity expansions, ongoing volatility and uncertainty in the capital or credit markets, the impact of environmental laws, regulations and claims and changes in governmental and public policy, and the risks and uncertainties described in our reports on Forms 10-K, 10-Q and 8-K. Forward-looking statements speak only as of the date hereof, and we assume no obligation to publicly update such statements.

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

The Texas Industries, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6602
 

CONSOLIDATED STATEMENTS OF OPERATIONS
TEXAS INDUSTRIES, INC. AND SUBSIDIARIES
	Three months ended  February 28,		Nine months ended  February 28,
In thousands except per share	2011	2010	2011	2010
NET SALES	$ 125,818	$ 117,829	$ 446,051	$ 444,721
Cost of products sold	135,179	131,126	427,237	407,041
GROSS PROFIT (LOSS)	(9,361)	(13,297)	18,814	37,680
Selling, general and administrative	17,319	17,568	52,003	53,708
Interest	9,670	13,642	37,967	40,250
Loss on debt retirements	--	--	29,619	--
Other income	(1,115)	(1,044)	(7,934)	(9,424)
	25,874	30,166	111,655	84,534
LOSS BEFORE INCOME TAXES	(35,235)	(43,463)	(92,841)	(46,854)
Income tax benefit	(14,301)	(16,358)	(37,014)	(17,762)
NET LOSS	$ (20,934)	$ (27,105)	$ (55,827)	$ (29,092)
Net loss per share
Basic	$ (.75)	$ (.98)	$ (2.01)	$ (1.05)
Diluted	$ (.75)	$ (.98)	$ (2.01)	$ (1.05)
Average shares outstanding
Basic	27,839	27,749	27,811	27,735
Diluted	27,839	27,749	27,811	27,735
Cash dividends declared per share	$ .075	$ .075	$ .225	$ .225

CONSOLIDATED BALANCE SHEETS
TEXAS INDUSTRIES, INC. AND SUBSIDIARIES
	(Unaudited) February 28,	May 31,
In thousands	2011	2010
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$ 123,362	$ 74,946
Receivables – net	69,999	112,184
Inventories	143,341	142,419
Deferred income taxes and prepaid expenses	22,774	23,426
TOTAL CURRENT ASSETS	359,476	352,975
PROPERTY, PLANT AND EQUIPMENT
Land and land improvements	158,941	158,367
Buildings	58,951	58,351
Machinery and equipment	1,226,451	1,220,021
Construction in progress	343,680	322,039
	1,788,023	1,758,778
Less depreciation and depletion	646,841	604,269
	1,141,182	1,154,509
OTHER ASSETS
Goodwill	1,715	1,715
Real estate and investments	7,007	6,774
Deferred charges and other	20,314	15,774
	29,036	24,263
	$ 1,529,694	$ 1,531,747
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable	$ 43,265	$ 56,214
Accrued interest, compensation and other	40,087	51,455
Current portion of long-term debt	72	234
TOTAL CURRENT LIABILITIES	83,424	107,903
LONG-TERM DEBT	652,422	538,620
DEFERRED INCOME TAXES AND OTHER CREDITS	89,177	123,976
SHAREHOLDERS' EQUITY
Common stock, $1 par value; authorized 100,000 shares; issued and outstanding 27,875 and 27,796 shares, respectively	27,875	27,796
Additional paid-in capital	480,109	475,584
Retained earnings	209,929	272,018
Accumulated other comprehensive loss	(13,242)	(14,150)
	704,671	761,248
	$ 1,529,694	$ 1,531,747

(Unaudited)
CONSOLIDATED STATEMENTS OF CASH FLOWS
TEXAS INDUSTRIES, INC. AND SUBSIDIARIES
	Nine months ended  February 28,
In thousands	2011	2010
OPERATING ACTIVITIES
Net loss	$ (55,827)	$ (29,092)
Adjustments to reconcile net loss to cash provided by operating activities
Depreciation, depletion and amortization	48,109	49,263
Gains on asset disposals	(1,456)	(1,324)
Deferred income taxes	(37,665)	(10,988)
Stock-based compensation expense	4,271	3,732
Excess tax benefits from stock-based compensation	--	(234)
Loss on debt retirements	29,619	--
Other – net	(2,258)	3,099
Changes in operating assets and liabilities
Receivables – net	29,814	25,864
Inventories	(922)	14,102
Prepaid expenses	2,501	1,753
Accounts payable and accrued liabilities	(7,980)	(9,315)
Net cash provided by operating activities	8,206	46,860
INVESTING ACTIVITIES
Capital expenditures – expansions	(23,507)	(5,304)
Capital expenditures – other	(15,437)	(6,424)
Proceeds from asset disposals	3,243	21,568
Investments in life insurance contracts	3,894	6,931
Other – net	1,230	14
Net cash provided (used) by investing activities	(30,577)	16,785
FINANCING ACTIVITIES
Long-term borrowings	650,000	--
Debt retirements	(561,610)	(276)
Debt issuance costs	(12,480)	(2,039)
Stock option exercises	1,139	499
Excess tax benefits from stock-based compensation	--	234
Common dividends paid	(6,262)	(6,244)
Net cash provided (used) by financing activities	70,787	(7,826)
Increase in cash and cash equivalents	48,416	55,819
Cash and cash equivalents at beginning of period	74,946	19,796
Cash and cash equivalents at end of period	$ 123,362	$ 75,615

CONTACT: Kenneth R. Allen
         Vice President-Finance and Chief Financial Officer
         972.647.6730
         Email: kallen@txi.com

Texas Industries, Inc.
Consolidated Statements of Operations
$ In thousands expect per share
	FY2005			FY2006			FY2007			FY2008			FY2009															FY2010															FY2011
														Q1			Q2			Q3			Q4		Total				Q1			Q2			Q3			Q4		Total				Q1			Q2			Q3		Total
Shipments
Cement (thousands of tons)		5,394			5,136			5,074			5,035			1,218			1,083			837			897			4,035			915			738			639			934			3,226			873			784			704			2,361
Aggregates (thousands of tons)		23,616			25,246			22,114			21,851			5,201			4,605			3,267			3,397			16,470			3,423			2,642			1,947			3,351			11,363			3,584			3,026			2,470			9,080
Ready-mix (thousands of cubic yards)		3,678			3,830			3,665			3,844			947			769			614			572			2,902			612			501			427			607			2,147			669			575			471			1,715
Price
Cement ($ per ton)	$	75.05		$	87.14		$	95.06		$	93.07		$	91.43		$	90.87		$	90.17		$	88.23		$	90.31		$	85.70		$	83.64		$	81.82		$	78.95		$	82.51		$	77.59		$	78.49		$	76.75		$	77.64
Aggregates ($ per ton)	$	5.68		$	6.08		$	7.03		$	7.44		$	7.82		$	7.74		$	8.23		$	8.23		$	7.97		$	8.12		$	7.65		$	7.62		$	7.51		$	7.75		$	7.42		$	7.48		$	7.38		$	7.43
Ready-mix ($ per cubic yard)	$	60.54		$	69.25		$	75.87		$	80.83		$	83.30		$	84.37		$	86.87		$	89.00		$	85.46		$	88.46		$	83.02		$	79.17		$	76.06		$	81.83		$	77.83		$	75.45		$	72.83		$	75.66
Net Sales
Cement		404,823			447,594			482,379			468,673			111,404			98,407			75,557			79,018			364,386			78,460			61,726			52,322			73,672			266,180			67,690			61,599			54,018			183,307
Aggregates		134,220			153,480			155,562			162,582			40,679			35,667			26,889			27,962			131,197			27,794			20,217			14,849			25,159			88,019			26,593			22,644			18,212			67,449
Ready-mix		222,680			265,254			278,067			310,652			78,894			64,832			53,306			50,899			247,931			54,053			41,720			33,695			46,244			175,712			52,106			43,377			34,351			129,834
Other		104,847			118,555			119,798			132,606			32,275			28,498			29,200			31,348			121,321			28,939			22,244			19,923			30,420			101,526			27,310			23,112			20,487			70,909
Interplant		(105,576	)		(121,127	)		(118,406	)		(130,461	)		(31,992	)		(27,398	)		(22,151	)		(21,489	)		(103,030	)		(20,878	)		(15,988	)		(13,575	)		(19,338	)		(69,779	)		(20,708	)		(18,369	)		(14,597	)		(53,674	)
Delivery Fees		73,809			80,166			78,850			84,802			25,132			21,793			15,858			14,614			77,397			15,589			13,016			10,615			20,186			59,406			19,131			15,748			13,347			48,226
Net Sales		834,803			943,922			996,250			1,028,854			256,392			221,799			178,659			182,352			839,202			183,957			142,935			117,829			176,343			621,064			172,122			148,111			125,818			446,051
Costs and Expenses (Income)
Cost of products sold		692,414			766,941			754,088			834,333			223,765			195,145			149,015			158,208			726,133			149,852			126,063			131,126			155,025			562,066			156,014			136,044			135,179			427,237
Selling, general and administrative		78,434			88,663			108,106			96,220			17,338			15,864			15,982			22,909			72,093			20,254			15,886			17,568			25,707			79,415			16,141			18,543			17,319			52,003
Goodwill impairment		-			-			-			-			-			-			-			58,395			58,395			-			-			-			-			-			-			-			-			-
Interest		23,533			31,155			14,074			2,505			7,245			9,296			8,344			8,401			33,286			13,244			13,364			13,642			11,990			52,240			14,411			13,886			9,670			37,967
Loss on debt retirements and spin-off charges		894			113,247			48			-			907			-			-			-			907			-			-			-			-			-			29,006			613			-			29,619
Other income		(22,727	)		(47,270	)		(36,629	)		(31,563	)		(8,241	)		(2,211	)		(7,944	)		(2,795	)		(21,191	)		(2,652	)		(5,728	)		(1,044	)		(1,242	)		(10,666	)		(4,890	)		(1,929	)		(1,115	)		(7,934	)
		772,548			952,736			839,687			901,495			241,014			218,094			165,397			245,118			869,623			180,698			149,585			161,292			191,480			683,055			210,682			167,157			161,053			538,892
Income (loss) from Continuing Operations
before Income Taxes		62,255			(8,814	)		156,563			127,359			15,378			3,705			13,262			(62,766	)		(30,421	)		3,259			(6,650	)		(43,463	)		(15,137	)		(61,991	)		(38,560	)		(19,046	)		(35,235	)		(92,841	)
Income Taxes (benefits)		16,811			(8,225	)		51,852			39,728			4,726			571			2,341			(20,412	)		(12,774	)		1,544			(2,948	)		(16,358	)		(5,376	)		(23,138	)		(14,868	)		(7,845	)		(14,301	)		(37,014	)
Income (loss) from Continuing Operations		45,444			(589	)		104,711			87,631			10,652			3,134			10,921			(42,354	)		(17,647	)		1,715			(3,702	)		(27,105	)		(9,761	)		(38,853	)		(23,692	)		(11,201	)		(20,934	)		(55,827	)
Income from Discontinued Operations net of Income Taxes		79,079			8,691			-			-			-			-			-			-			-			-			-			-			-			-			-			-			-			-
Income (loss) before Accounting Change		124,523			8,102			104,711			87,631			10,652			3,134			10,921			(42,354	)		(17,647	)		1,715			(3,702	)		(27,105	)		(9,761	)		(38,853	)		(23,692	)		(11,201	)		(20,934	)		(55,827	)
Cumulative Effect of Accounting Change net of Income Taxes		-			-			-			-			-			-			-			-			-			-			-			-			-			-			-			-			-			-
Net Income (loss)		124,523			8,102			104,711			87,631			10,652			3,134			10,921			(42,354	)		(17,647	)		1,715			(3,702	)		(27,105	)		(9,761	)		(38,853	)		(23,692	)		(11,201	)		(20,934	)		(55,827	)

Texas Industries, Inc.
Consolidated Balance Sheets
$ In thousands
																											��
	5/31/2005		5/31/2006		5/31/2007		5/31/2008		8/31/2008		11/30/2008		2/28/2009		5/31/2009		8/31/2009		11/30/2009		2/28/2010		5/31/2010		8/31/2010			11/30/2010		2/28/2011
Cash		251,600		84,139		15,138		39,527		118,548		62,254		33,865		19,796		32,183		56,794		75,615		74,946		162,427			139,753		123,362
Short-term investments		-		50,606		-		-		-		-		-		-		-		-		-		-		-			-		-
Receivables - net		117,363		132,849		142,610		170,943		155,970		140,134		104,199		129,432		129,430		115,469		74,642		112,184		107,217			96,671		69,999
Inventories		83,291		109,767		135,254		144,654		157,157		155,097		164,657		155,724		156,355		161,431		141,304		142,419		148,741			152,681		143,341
Deferred income taxes and prepaid expenses		28,754		33,599		17,621		17,943		16,760		17,238		17,733		22,039		21,244		21,320		21,887		23,426		22,673			23,351		22,774
Total Current Assets		481,008		410,960		310,623		373,067		448,435		374,723		320,454		326,991		339,212		355,014		313,448		352,975		441,058			412,456		359,476
Property, plant and equipment		886,447		956,896		1,293,360		1,546,125		1,628,431		1,722,452		1,767,701		1,791,546		1,789,351		1,788,663		1,790,965		1,758,778		1,759,077			1,775,126		1,788,023
Less depreciation and depletion		473,794		486,585		509,138		518,361		530,925		546,663		557,990		572,195		587,052		601,982		613,930		604,269		618,706			634,404		646,841
Net Property, Plant and Equipment		412,653		470,311		784,222		1,027,764		1,097,506		1,175,789		1,209,711		1,219,351		1,202,299		1,186,681		1,177,035		1,154,509		1,140,371			1,140,722		1,141,182
Goodwill		58,395		58,395		58,395		60,110		60,110		60,110		60,110		1,715		1,715		1,715		1,715		1,715		1,715			1,715		1,715
Real estate and investments		99,491		125,159		110,761		59,261		33,253		32,011		31,011		10,001		7,736		7,827		7,334		6,774		6,223			7,426		7,007
Deferred cncome taxes, intangibles and other charges		27,571		22,706		11,369		11,332		13,907		15,241		17,023		14,486		15,852		15,787		14,050		15,774		22,398			23,219		20,314
Assets of discontinued operations		1,114,627		-		-		-								-		-		-		-		-		-			-		-
		1,300,084		206,260		180,525		130,703		107,270		107,362		108,144		26,202		25,303		25,329		23,099		24,263		30,336			32,360		29,036
Total Assets		2,193,745		1,087,531		1,275,370		1,531,534		1,653,211		1,657,874		1,638,309		1,572,544		1,566,814		1,567,024		1,513,582		1,531,747		1,611,765			1,585,538		1,529,694
Accounts payable		44,560		50,931		96,883		111,478		106,138		95,535		83,094		55,749		48,894		41,144		43,537		56,214		54,659			41,800		43,265
Accrued interest, compensation and other items		62,202		66,955		70,104		66,967		53,075		65,647		51,285		51,856		47,808		60,224		41,515		51,455		45,805			63,307		40,087
Current portion of long term debt		688		681		1,340		7,725		229		234		238		243		247		541		500		234		13,341			95		72
Total Current Liabilities		107,450		118,567		168,327		186,170		159,442		161,416		134,617		107,848		96,949		101,909		85,552		107,903		113,805			105,202		83,424
Long-term Debt		603,126		251,505		274,416		401,880		539,195		539,978		540,767		541,540		542,371		543,244		544,087		538,620		652,459			652,441		652,422
Convertible subordinated debentures		199,937		159,725		-		-		-		-		-		-		-		-		-		-		-			-		-
Deferred income taxes and other credits		77,138		79,837		95,508		118,117		116,801		113,730		109,578		120,011		122,765		121,591		111,171		123,976		108,400			102,495		89,177
Liabilities of discontinued operations										-		-		-		-		-		-		-		-		-			-		-
Shareholders' equity		927,567		477,897		737,119		825,367		837,773		842,750		853,347		803,145		804,729		800,280		772,772		761,248		737,101			725,400		704,671
Total Liabilities and Shareholders' Equity		2,193,745		1,087,531		1,275,370		1,531,534		1,653,211		1,657,874		1,638,309		1,572,544		1,566,814		1,567,024		1,513,582		1,531,747		1,611,765			1,585,538		1,529,694
		-		-		-		-		-		-		-		-		-		-		-		-

Texas Industries, Inc.
Consolidated Statements of Cash Flows
$ In thousands
	FY2005			FY2006			FY2007			FY2008			FY2009												FY2010												FY2011
														Q1		Q2		Q3		Q4		Total				Q1		Q2		Q3		Q4		Total				Q1		Q2		Q3		Total
CONTINUING OPERATIONS
Operating Activities
Income (Loss) from Continuing Operations		45,444			(589	)		104,711			87,631			10,652		3,134		10,921		(42,354	)		(17,647	)		1,715		(3,702	)	(27,105	)	(9,761	)		(38,853	)		(23,692	)	(11,201	)	(20,934	)		(55,827	)
Adjustments to reconcile income (loss) from continuing
operations to cash provided by continuing operating
activities
Depreciation, depletion and amortization		46,474			44,955			46,356			55,577			16,865		17,151		17,183		16,993			68,192			16,594		16,377		16,292		14,662			63,925			15,861		16,130		16,118			48,109
Goodwill impairment		-			-			-			-			-		-		-		58,395			58,395			-		-		-		-			-			-		-		-			-
Loss (gain) on asset disposals		(6,582	)		(34,768	)		(2,917	)		(19,410	)		(280	)	(147	)	(5,811	)	(521	)		(6,759	)		(1,030	)	(403	)	109		(26	)		(1,350	)		(1,613	)	58		99			(1,456	)
Deferred income taxes (benefit)		33,811			6,581			13,622			20,036			2,538		1,089		(2,475	)	(3,090	)		(1,938	)		743		13		(11,744	)	1,856			(9,132	)		(14,973	)	(7,991	)	(14,701	)		(37,665	)
Stock-based compensation expense (credit)		-			-			13,866			2,395			(4,060	)	(3,769	)	(1,339	)	4,768			(4,400	)		2,643		(500	)	1,589		1,365			5,097			(230	)	2,518		1,983			4,271
Excess tax benefits from stock-based compensation		8,000			9,969			(1,694	)		(3,299	)		(1,212	)	(554	)	(5	)	175			(1,596	)		(211	)	(37	)	14		(16	)		(250	)		-		-		-			-
Loss on debt retirements		-			107,006			48			-			907		-		-		-			907			-		-		-		-			-			29,006		613		-			29,619
Other - net		889			(2,399	)		3,234			2,475			(1,006	)	(61	)	2,451		4,547			5,931			(221	)	830		2,490		10,899			13,998			2,192		(5,047	)	597			(2,258	)
Changes in operating assets and liabilities
Receivables - net		(8,873	)		(5,060	)		846			(29,507	)		14,269		15,805		16,866		8,457			55,397			(888	)	14,908		11,844		(31,285	)		(5,421	)		4,413		11,699		13,702			29,814
Inventories		6,082			(18,761	)		(25,047	)		(9,400	)		(12,504	)	2,061		(9,561	)	8,934			(11,070	)		757		(4,600	)	17,945		(396	)		13,706			(6,322	)	(3,940	)	9,340			(922	)
Prepaid expenses		(1,680	)		63			1,392			(2,033	)		1,366		(452	)	(396	)	(2,412	)		(1,894	)		1,074		693		(14	)	(1,366	)		387			1,297		(65	)	1,269			2,501
Accounts payable and accrued liabilities		17,017			(12,155	)		31,541			(2,910	)		(16,920	)	(6,534	)	6,365		(19,143	)		(36,232	)		(6,638	)	1,815		(4,492	)	15,361			6,046			(7,284	)	8,597		(9,293	)		(7,980	)
Other credits		3,838			2,527			-			-			-		-				-			-			-		-		-		-			-			-		-		-			-
Cash Provided by Continuing Operating Activities		144,420			97,369			185,958			101,555			10,615		27,723		34,199		34,749			107,286			14,538		25,394		6,928		1,293			48,153			(1,345	)	11,371		(1,820	)		8,206
Investing Activities
Capital expenditures		(46,178	)		(110,245	)		(317,658	)		(312,525	)		(88,736	)	(86,595	)	(65,540	)	(47,673	)		(288,544	)		(5,373	)	(2,069	)	(4,286	)	(1,931	)		(13,659	)		(3,156	)	(20,243	)	(15,545	)		(38,944	)
Cash designed for property acquisitions														26,958		1,775		-		-			28,733			-		-		-		-			-			-		-		-			-
Proceeds from asset disposals		7,136			23,107			5,552			34,922			512		353		6,577		539			7,981			1,068		375		20,125		24			21,592			3,209		(172	)	206			3,243
Investments in insurance contracts		(58,798	)		(4,366	)		(6,061	)		99,203			1,464		799		216		397			2,876			5,802		924		205		36			6,967			327		3,377		190			3,894
Purchases of short-term investments - net														-		-		-		-			-			-		-		-		-			-			-		-		-			-
Other - net		(677	)		612			(336	)		101			192		(17	)	(164	)	(32	)		(21	)		(19	)	17		16		2,065			2,079			292		(1,151	)	2,089			1,230
Cash Provided (Used) by Investing Activities		(98,517	)		(141,392	)		(268,003	)		(207,032	)		(59,610	)	(83,685	)	(58,911	)	(46,769	)		(248,975	)		1,478		(753	)	16,060		194			16,979			672		(18,189	)	(13,060	)		(30,577	)
Financing Activities
Long-term borrowings		-			250,000			38,000			366,000			327,250		-		-		-			327,250			-		-		-		-			-			650,000		-		-			650,000
Debt retirements		(699	)		(600,700	)		(25,521	)		(232,366	)		(197,555	)	(55	)	(66	)	(96	)		(197,772	)		(59	)	(85	)	(132	)	31			(245	)		(547,736	)	(13,832	)	(42	)		(561,610	)
Debt issuance costs		(39	)		(7,363	)		-			(2,160	)		(2,306	)	(1,170	)	(1,994	)	-			(5,470	)		(2,032	)	(7	)	-		(513	)		(2,552	)		(12,250	)	(176	)	(54	)		(12,480	)
Debt retirement costs		-			(96,029	)		(6	)		-			-		-		-		-			-			-		-		-		-			-			-		-		-			-
Interest rate swap terminations		(6,315	)		-			-			-			-		-		-		-			-			-		-		-		-			-			-		-		-			-
Stock option exercises		41,399			7,510			6,394			3,315			1,480		2,405		456		300			4,641			331		25		143		394			893			225		239		675			1,139
Excess tax benefits from stock-based compensation		-			-			1,694			3,299			1,212		554		5		(175	)		1,596			211		37		(14	)	16			250			-		-		-			-
Common dividends paid		(6,643	)		(6,908	)		(7,517	)		(8,222	)		(2,065	)	(2,066	)	(2,078	)	(2,078	)		(8,287	)		(2,080	)	-		(4,164	)	(2,084	)		(8,328	)		(2,085	)	(2,087	)	(2,090	)		(6,262	)
Other - net		-			-			-			-			-		-		-					-			-		-		-		-			-			-		-		-			-
Cash Provided (Used) by Financing Activities		27,703			(453,490	)		13,044			129,866			128,016		(332	)	(3,677	)	(2,049	)		121,958			(3,629	)	(30	)	(4,167	)	(2,156	)		(9,982	)		88,154		(15,856	)	(1,511	)		70,787
Net Cash Provided (Used) by Continuing Operations		73,606			(497,513	)		(69,001	)		24,389			79,021		(56,294	)	(28,389	)	(14,069	)		(19,731	)		12,387		24,611		18,821		(669	)		55,150			87,481		(22,674	)	(16,391	)		48,416
DISCONTINUED OPERATIONS
Cash Provided (Used) by Discontinued Operating Activities		73,104			(7,778	)		-			-			-		-		-		-			-			-		-		-		-			-			-		-		-			-
Cash Used by Discontinued Investing Activities		(28,163	)		(2,757	)		-			-			-		-		-		-			-			-		-		-		-			-			-		-		-			-
Cash Provided by Discontinued Financing Activities		-			340,587			-			-			-		-		-		-			-			-		-		-		-			-			-		-		-			-
Net Cash Provided by Discontinued Operations		44,941			330,052			-			-			-		-		-		-			-			-		-		-		-			-			-		-		-			-
Increase (Decrease) in Cash and Cash Equivalents		118,547			(167,461	)		(69,001	)		24,389			79,021		(56,294	)	(28,389	)	(14,069	)		(19,731	)		12,387		24,611		18,821		(669	)		55,150			87,481		(22,674	)	(16,391	)		48,416
Cash and Cash Equivalents at Beginning of Period		133,053			251,600			84,139			15,138			39,527		118,548		62,254		33,865			39,527			19,796		32,183		56,794		75,615			19,796			74,946		162,427		139,753			74,946
Cash and Cash Equivalents at End of Period		251,600			84,139			15,138			39,527			118,548		62,254		33,865		19,796			19,796			32,183		56,794		75,615		74,946			74,946			162,427		139,753		123,362			123,362

Texas Industries, Inc.
Reconciliation of EBITDA to Net Income and Cash Provided (Used) by Continuing Operations
$ In thousands
	FY2005			FY2006			FY2007			FY2008			FY2009												FY2010												FY2011
														Q1		Q2		Q3		Q4		Total				Q1		Q2		Q3		Q4		Total				Q1		Q2		Q3		Total
EBITDA Defined
Net Income (loss) from Continuing Operations		45,444			(589	)		104,711			87,631			10,652		3,134		10,921		(42,354	)		(17,647	)		1,715		(3,702	)	(27,105	)	(9,761	)		(38,853	)		(23,692	)	(11,201	)	(20,934	)		(55,827	)
Plus (minus):
Interest		23,533			31,155			14,074			2,505			7,245		9,296		8,344		8,401			33,286			13,244		13,364		13,642		11,990			52,240			14,411		13,886		9,670			37,967
Income taxes (benefit)		16,811			(8,225	)		51,852			39,728			4,726		571		2,341		(20,412	)		(12,774	)		1,544		(2,948	)	(16,358	)	(5,376	)		(23,138	)		(14,868	)	(7,845	)	(14,301	)		(37,014	)
Depreciation, depletion and amortization		46,474			44,955			46,356			55,577			16,865		17,151		17,183		16,993			68,192			16,594		16,377		16,292		14,662			63,925			15,861		16,130		16,118			48,109
Goodwill impairment		-			-			-			-			-		-		-		58,395			58,395			-		-		-		-			-			-		-		-			-
Loss on debt retirements and spin-off charges		894			113,247			48			-			907		-		-		-			907			-		-		-		-			-			29,006		613		-			29,619
EBITDA		133,156			180,543			217,041			185,441			40,395		30,152		38,789		21,023			130,359			33,097		23,091		(13,529	)	11,515			54,174			20,718		11,583		(9,447	)		22,854
EBITDA represents income from continuing operations before interest, income taxes, depreciation and amortization, loss on debt retirements and goodwill impairment.
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		144,420			97,369			185,958			101,555			10,615		27,723		34,199		34,749			107,286			14,538		25,394		6,928		1,293			48,153			(1,345	)	11,371		(1,820	)		8,206
Plus (minus):
Changes in operating assets and liabilities		(16,384	)		33,386			(8,732	)		43,850			13,789		(10,880	)	(13,274	)	4,164			(6,201	)		5,695		(12,816	)	(25,283	)	17,686			(14,718	)		7,896		(16,291	)	(15,018	)		(23,413	)
Deferred taxes (benefit)		(33,811	)		(6,581	)		(13,622	)		(20,036	)		(2,538	)	(1,089	)	2,475		3,090			1,938			(743	)	(13	)	11,744		(1,856	)		9,132			14,973		7,991		14,701			37,665
Stock-based compensation expense (credit)		-			-			(13,866	)		(2,395	)		4,060		3,769		1,339		(4,768	)		4,400			(2,643	)	500		(1,589	)	(1,365	)		(5,097	)		230		(2,518	)	(1,983	)		(4,271	)
Excess tax benefits from stock-based compensation		(8,000	)		(9,969	)		1,694			3,299			1,212		554		5		(175	)		1,596			211		37		(14	)	16			250			-		-		-			-
Income taxes (benefit)		16,811			(8,225	)		51,852			39,728			4,726		571		2,341		(20,412	)		(12,774	)		1,544		(2,948	)	(16,358	)	(5,376	)		(23,138	)		(14,868	)	(7,845	)	(14,301	)		(37,014	)
Loss (gain) on assets disposals		6,582			34,768			2,917			19,410			280		147		5,811		521			6,759			1,030		403		(109	)	26			1,350			1,613		(58	)	(99	)		1,456
Interest		23,533			31,155			14,074			2,505			7,245		9,296		8,344		8,401			33,286			13,244		13,364		13,642		11,990			52,240			14,411		13,886		9,670			37,967
Spin-off charges		894			6,241			-			-			-		-		-		-			-			-		-		-		-			-			-		-		-			-
Other - net		(889	)		2,399			(3,234	)		(2,475	)		1,006		61		(2,451	)	(4,547	)		(5,931	)		221		(830	)	(2,490	)	(10,899	)		(13,998	)		(2,192	)	5,047		(597	)		2,258
EBITDA		133,156			180,543			217,041			185,441			40,395		30,152		38,789		21,023			130,359			33,097		23,091		(13,529	)	11,515			54,174			20,718		11,583		(9,447	)		22,854

Texas Industries, Inc.
Business Segment Summary
$ In thousands expect per share
	FY2005			FY2006			FY2007			FY2008			FY2009															FY2010															FY2011
														Q1			Q2			Q3			Q4		Total				Q1			Q2			Q3			Q4		Total				Q1			Q2			Q3		Total
Cement Operations
Operating Results
Total cement sales		404,823			447,594			482,379			468,673			111,404			98,407			75,557			79,018			364,386			78,460			61,726			52,322			73,672			266,180			67,690			61,599			54,018			183,307
Total other sales and delivery fees		30,699			27,416			27,648			36,079			9,959			9,641			5,882			5,452			30,934			6,736			6,457			5,296			9,844			28,333			8,692			6,979			6,144			21,815
Total segment sales		435,522			475,010			510,027			504,752			121,363			108,048			81,439			84,470			395,320			85,196			68,183			57,618			83,516			294,513			76,382			68,578			60,162			205,122
Cost of products sold		338,528			352,603			343,145			391,687			104,557			94,206			67,919			76,142			342,824			69,859			58,359			70,616			71,929			270,763			70,063			63,121			70,010			203,194
Gross profit		96,994			122,407			166,882			113,065			16,806			13,842			13,520			8,328			52,496			15,337			9,824			(12,998	)		11,587			23,750			6,319			5,457			(9,848	)		1,928
Selling, general and administrative		(15,085	)		(13,956	)		(19,878	)		(18,307	)		(5,405	)		(6,082	)		(3,577	)		(4,279	)		(19,343	)		(4,674	)		(4,359	)		(3,715	)		(4,780	)		(17,528	)		(4,793	)		(4,018	)		(3,286	)		(12,097	)
Goodwill impairment		-			-			-			-			-			-			-			(58,395	)		(58,395	)		-			-			-			-			-			-			-			-			-
Other income		1,342			951			24,536			7,419			5,264			1,008			1,423			1,606			9,301			1,743			4,670			411			950			7,774			2,438			509			696			3,643
Operating Profit (loss)		83,251			109,402			171,540			102,177			16,665			8,768			11,366			(52,740	)		(15,941	)		12,406			10,135			(16,302	)		7,757			13,996			3,964			1,948			(12,438	)		(6,526	)
Cement
Shipments (tons)		5,394			5,136			5,074			5,035			1,218			1,083			837			897			4,035			915			738			639			934			3,226			873			784			704			2,361
Prices ($/ton)	$	75.05		$	87.14		$	95.06		$	93.07		$	91.43		$	90.87		$	90.17		$	88.23		$	90.31		$	85.70		$	83.64		$	81.82		$	78.95		$	82.51		$	77.59		$	78.49		$	76.75		$	77.64
Cost of sales ($/ton)	$	58.03		$	63.65		$	63.08		$	70.85		$	79.26		$	79.04		$	73.92		$	78.94		$	78.02		$	68.70		$	71.98		$	101.70		$	69.99		$	76.36		$	71.23		$	73.39		$	90.43		$	77.67
Aggregate Operations
Operating Results
Total stone, sand and gravel sales		134,220			153,480			155,562			162,582			40,679			35,667			26,889			27,962			131,197			27,794			20,217			14,849			25,159			88,019			26,593			22,644			18,212			67,449
Total other sales and delivery fees		88,125			99,101			113,292			122,748			31,118			24,838			25,882			24,456			106,294			22,307			16,070			14,410			24,141			76,928			23,377			18,438			16,692			58,507
Total segment sales		222,345			252,581			268,854			285,330			71,797			60,505			52,771			52,418			237,491			50,101			36,287			29,259			49,300			164,947			49,970			41,082			34,904			125,956
Cost of products sold		191,837			219,124			218,394			231,503			59,456			51,908			42,678			43,541			197,583			39,155			32,001			28,882			42,925			142,963			43,410			35,002			32,323			110,735
Gross profit		30,508			33,457			50,460			53,827			12,341			8,597			10,093			8,877			39,908			10,946			4,286			377			6,375			21,984			6,560			6,080			2,581			15,221
Selling, general and administrative		(11,920	)		(15,436	)		(16,212	)		(15,178	)		(3,823	)		(3,506	)		(2,379	)		(2,925	)		(12,633	)		(2,705	)		(2,489	)		(1,937	)		(2,471	)		(9,602	)		(3,059	)		(2,814	)		(2,679	)		(8,552	)
Other income		10,782			30,376			2,638			16,974			407			463			5,466			618			6,954			398			432			409			180			1,419			1,633			57			16			1,706
Operating Profit (loss)		29,370			48,397			36,886			55,623			8,925			5,554			13,180			6,570			34,229			8,639			2,229			(1,151	)		4,084			13,801			5,134			3,323			(82	)		8,375
Stone, sand and gravel
Shipments (tons)		23,616			25,246			22,114			21,851			5,201			4,605			3,267			3,397			16,470			3,423			2,642			1,947			3,351			11,363			3,584			3,026			2,470			9,080
Prices ($/ton)	$	5.68		$	6.08		$	7.03		$	7.44		$	7.82		$	7.74		$	8.23		$	8.23		$	7.97		$	8.12		$	7.65		$	7.62		$	7.51		$	7.75		$	7.42		$	7.48		$	7.38		$	7.43
Cost of sales ($/ton)	$	4.80		$	5.23		$	5.40		$	6.13		$	6.28		$	6.62		$	6.92		$	7.14		$	6.68		$	6.28		$	7.03		$	8.41		$	6.60		$	6.91		$	6.45		$	6.53		$	7.23		$	6.69
Consumer Products Operations
Operating Results
Total ready-mix concrete sales		222,680			265,254			278,067			310,652			78,894			64,832			53,306			50,899			247,931			54,053			41,720			33,695			46,244			175,712			52,106			43,377			34,351			129,834
Total other sales and delivery fees		59,832			72,204			57,708			58,581			16,330			15,812			13,294			16,054			61,490			15,485			12,733			10,832			16,621			55,671			14,372			13,443			10,998			38,813
Total segment sales		282,512			337,458			335,775			369,233			95,224			80,644			66,600			66,953			309,421			69,538			54,453			44,527			62,865			231,383			66,478			56,820			45,349			168,647
Cost of products sold		267,625			316,341			310,955			341,604			91,744			76,429			60,569			60,014			288,756			61,716			51,691			45,203			59,509			218,119			63,249			56,290			47,443			166,982
Gross profit		14,887			21,117			24,820			27,629			3,480			4,215			6,031			6,939			20,665			7,822			2,762			(676	)		3,356			13,264			3,229			530			(2,094	)		1,665
Selling, general and administrative		(10,339	)		(11,415	)		(16,284	)		(19,314	)		(4,315	)		(3,716	)		(2,142	)		(2,943	)		(13,116	)		(3,204	)		(2,749	)		(1,421	)		(2,819	)		(10,193	)		(2,676	)		(3,047	)		(2,607	)		(8,330	)
Other income		711			647			1,310			3,268			385			180			651			98			1,314			133			268			115			70			586			198			134			66			398
Operating Profit (loss)		5,259			10,349			9,846			11,583			(450	)		679			4,540			4,094			8,863			4,751			281			(1,982	)		607			3,657			751			(2,383	)		(4,635	)		(6,267	)
Ready-mix concrete
Shipments (tons)		3,678			3,830			3,665			3,844			947			769			614			572			2,902			612			501			427			607			2,147			669			575			471			1,715
Prices ($/ton)	$	60.54		$	69.25		$	75.87		$	80.83		$	83.30		$	84.37		$	86.87		$	89.00		$	85.46		$	88.46		$	83.02		$	79.17		$	76.06		$	81.83		$	77.83		$	75.45		$	72.83		$	75.66
Cost of sales ($/ton)	$	61.12		$	67.69		$	71.92		$	76.36		$	81.15		$	81.96		$	80.45		$	82.13		$	81.41		$	79.91		$	80.98		$	84.35		$	75.60		$	79.82		$	76.20		$	77.79		$	80.71		$	77.97
Total Segment Operating Profit (loss)														25,140			15,001			29,086			(42,076	)		27,151			25,796			12,645			(19,435	)		12,448			31,454			9,849			2,888			(17,155	)		(4,418	)
Corporate
Other income		9,892			15,296			8,145			3,902			2,185			560			404			473			3,622			378			358			109			42			887			621			1,229			337			2,187
Selling, general and administrative		(41,090	)		(47,856	)		(55,732	)		(43,421	)		(3,795	)		(2,560	)		(7,884	)		(12,762	)		(27,001	)		(9,671	)		(6,289	)		(10,495	)		(15,637	)		(42,092	)		(5,613	)		(8,664	)		(8,747	)		(23,024	)
		(31,198	)		(32,560	)		(47,587	)		(39,519	)		(1,610	)		(2,000	)		(7,480	)		(12,289	)		(23,379	)		(9,293	)		(5,931	)		(10,386	)		(15,595	)		(41,205	)		(4,992	)		(7,435	)		(8,410	)		(20,837	)
Interest		(23,533	)		(31,155	)		(14,074	)		(2,505	)		(7,245	)		(9,296	)		(8,344	)		(8,401	)		(33,286	)		(13,244	)		(13,364	)		(13,642	)		(11,990	)		(52,240	)		(14,411	)		(13,886	)		(9,670	)		(37,967	)
Loss on Debt Retirements		(894	)		(113,247	)		(48	)		-			(907	)		-			-			-			(907	)		-			-			-			-			-			(29,006	)		(613	)		-			(29,619	)
Income (loss) from Continuing Operations before
Income Taxes		62,255			(8,814	)		156,563			127,359			15,378			3,705			13,262			(62,766	)		(30,421	)		3,259			(6,650	)		(43,463	)		(15,137	)		(61,991	)		(38,560	)		(19,046	)		(35,235	)		(92,841	)

Texas Industries, Inc.
Business Segment Summary
$ In thousands expect per share
	FY2005		FY2006		FY2007		FY2008		FY2009							FY2010							FY2011
										Q1	Q2	Q3	Q4	Total			Q1	Q2	Q3	Q4	Total			Q1	Q2	Q3	Total
Major Gains (losses) in Other Income
Cement - antidumping settlement						19,803
Cement - sale of emissions credits								3,879		1,723					1,723			3,427				3,427		1,690				1,690
Cement - oil and gas bonus proceeds										2,781					2,781
Aggregates - sale of emissions credits		6,225
Aggregates - sale of real estate				23,987				5,146				4,961			4,961
Aggregates - sale of southern Louisiana operations								10,093
Corporate - oil and gas bonus proceeds										1,636					1,636										834			834
Depreciation, Depletion and Amortization
Cement		24,926		23,628		23,234		25,645		9,333	9,393	9,525	9,548		37,799		9,341	9,286	9,250	7,951		35,828		9,149	9,181	9,124		27,454
Aggregates		12,898		13,926		16,093		21,166		5,421	5,651	5,576	5,271		21,919		5,067	4,994	5,057	4,755		19,873		4,772	4,956	4,793		14,521
Consumer Products		6,889		6,181		6,493		7,998		1,873	1,856	1,817	1,888		7,434		1,896	1,807	1,695	1,667		7,065		1,656	1,709	1,919		5,284
Corporate		1,761		1,220		536		768		238	251	265	286		1,040		290	290	290	289		1,159		284	284	282		850
Total Depreciation, Depletion and Amortization		46,474		44,955		46,356		55,577		16,865	17,151	17,183	16,993		68,192		16,594	16,377	16,292	14,662		63,925		15,861	16,130	16,118		48,109