01—Abstract
Summary
Summary of the 10-K/A filed March 18, 2019. Cited figures are marked; the original filing is the authoritative source.
Martin Marietta Materials, Inc. filed this Amendment No. 1 on March 18, 2019 to its Annual Report on Form 10-K for the fiscal year ended December 31, 2018, which was originally filed with the SEC on February 25, 2019.
The amendment's sole purpose is to replace Exhibit 23.01, the Consent of PricewaterhouseCoopers LLP, because an administrative error caused the consent to identify the wrong date of the firm's reports included in the Original Form 10-K. The company states that the amendment does not modify the financial position, results of operations, cash flows, or other disclosures in the Original Form 10-K, and it should be read together with that filing. The cover page reports that the company is a large accelerated filer and not a shell company.
The aggregate market value of common stock held by non-affiliates was $11.0 billiona (stated as $11,000,435,608.61) as of June 29, 2018, based on the NYSE closing price. As of February 15, 2019, 62,430,548 shares of common stock, $.01 par value, were outstanding. The filing incorporates by reference excerpts from the Annual Report to Shareholders for fiscal 2018 for Parts I, II, and IV, and the Proxy Statement for the May 9, 2019 Annual Meeting of Shareholders for Part III.
This amendment also includes new Section 302 certifications from the Chief Executive Officer and Chief Financial Officer, dated March 18, 2019. Under Rule 12b-15, paragraphs 3 through 5 of the certifications are omitted because no financial statements are included and the amendment does not address Items 307 or 308 of Regulation S-K.
02—Key points
Key Highlights
- Amendment No. 1 to the fiscal 2018 Form 10-K, filed March 18, 2019, solely replaces Exhibit 23.01.
- The replaced Exhibit 23.01 is the PricewaterhouseCoopers LLP consent, corrected because the original consent misidentified the date of the firm's reports.
- The original Form 10-K for the fiscal year ended December 31, 2018 was filed February 25, 2019.
- The amendment does not modify the financial position, results of operations, cash flows, or other disclosures in the Original Form 10-K.
- Non-affiliate market value of common stock was $11,000,435,608.61 as of June 29, 2018, based on NYSE closing prices.
- 62,430,548 common shares ($.01 par value) were outstanding as of February 15, 2019.
- Financial and business information is incorporated by reference from the 2018 Annual Report to Shareholders, and Part III governance information from the Proxy Statement for the May 9, 2019 annual meeting.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2018, Martin Marietta Materials kept $0.11.
- Revenue$4.24B100.0%
- Cost of revenue−$3.28B77.2%
- Gross profit$966.6M22.8%
- Operating costs−$275.9M6.5%
- Operating income$690.7M16.3%
- Interest, other & tax−$220.7M5.2%
- Net income$470.0M11.1%
Where FY2018 revenue went
$4.24B- Cost of revenue: $3.28B, 77% of revenue
- Net income: $470.0M, 11% of revenue
- SG&A: $280.6M, 6.6% of revenue
- Interest, other & tax: $220.7M, 5.2% of revenue
Kept 11% as net incomeNet income $470.0M · 11%
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2018filed March 18, 2019Financial Statements
FY2018 against FY2017
| Line item | FY2018FY2017 | Change |
|---|---|---|
| Revenue | $4.24B$3.97B | +7.0% |
| Cost of Revenue | $3.28B$2.99B | +9.5% |
| Gross Profit | $966.60M$971.90M | −0.5% |
| SG&A Expenses | $280.60M$262.10M | +7.1% |
| Operating Income | $690.70M$700.40M | −1.4% |
| Interest Expense | $137.10M$91.50M | +49.8% |
| Net Income | $470.00M$713.30M | −34.1% |
| EPS (Basic) | $7.46$11.30 | −34.0% |
| EPS (Diluted) | $7.43$11.25 | −34.0% |
| Shares Outstanding (Basic) | 62.90M62.90M | 0.0% |
| Shares Outstanding (Diluted) | 63.10M63.20M | −0.2% |
05—Questions
Frequently Asked Questions
Why did Martin Marietta file this amendment?
The company filed Amendment No. 1 to replace Exhibit 23.01, the PricewaterhouseCoopers LLP consent. Due to an administrative error, the original consent incorrectly identified the date of the auditor's reports included in the Original Form 10-K.
Does this amendment change the company's reported financial results?
No. The company states that, except as expressly noted, the amendment does not modify or update the financial position, results of operations, cash flows, or other disclosures in, or exhibits to, the Original Form 10-K, and it does not reflect events after that filing.
What was the company's public float and share count?
The aggregate market value of common stock held by non-affiliates was $11.0 billion as of June 29, 2018, based on NYSE closing prices. As of February 15, 2019, 62,430,548 shares were outstanding.
Where can investors find the company's financial statements and governance details?
The filing incorporates by reference excerpts from the 2018 Annual Report to Shareholders for Parts I, II, and IV, and the Proxy Statement for the May 9, 2019 annual meeting for Part III.
06—Continue