What changed in this filing

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Item 1. Financial Statements

2024-08-08 compared with 2024-05-10 · 264 added, 183 removed, 555 unchanged (45% of the section changed)

2 unchanged sentences

(in $ millions, except share and per share data)

Three months ended

Three months ended Six months ended

June 30 June 30

2024 2023 2024 2023

Product revenues 7,308 7,431 12,676 12,769

11 unchanged sentences

Other nonoperating income, net 23 2 184 2

Income (loss) from operations before income tax expense and income from equity method investments 99 ( 39 )

Income tax benefit 19 14

Loss from equity method investments ( 4 ) ( 6 )

Net income (loss) 114 ( 31 )

Income from operations before income tax expense and income from equity method investments 1,733 1,578 1,832 1,539

Income tax expense ( 430 ) ( 379 ) ( 411 ) ( 365 )

Income from equity method investments 6 13 2 7

Net income 1,309 1,212 1,423 1,181

Net (income) attributable to redeemable noncontrolling interests ( 10 ) ( 10 ) ( 12 ) ( 12 )

Net loss attributable to noncontrolling interests 4 5

Net income (loss) attributable to CRH plc 116 ( 28 )

Earnings (loss) per share attributable to CRH plc

Net (income) loss attributable to noncontrolling interests ( 2 ) ( 3 ) 2 2

Net income attributable to CRH plc 1,297 1,199 1,413 1,171

Earnings per share attributable to CRH plc

Basic $ 1.89 $ 1.63 $ 2.05 $ 1.57

7 unchanged sentences

(in $ millions)

Three months ended

Net income (loss) 114 ( 31 )

Other comprehensive income (loss), net of tax:

Three months ended Six months ended

June 30 June 30

2024 2023 2024 2023

Net income 1,309 1,212 1,423 1,181

Other comprehensive (loss) income, net of tax:

Currency translation adjustment ( 49 ) 49 ( 197 ) 147

Net change in fair value of effective portion of cash flow hedges, net of tax of $ 6 million and $( 6 ) million for the three months ended March 31, 2024 and March 31, 2023, respectively

Actuarial losses and prior service costs for pension and other postretirement plans, net of tax of $ 1 million and $ nil million for the three months ended March 31, 2024 and March 31, 2023, respectively

Net change in fair value of effective portion of cash flow hedges, net of tax of $( 4 ) million and $( 3 ) million for the three months ended June 30, 2024 and June 30, 2023, respectively;

and $ 2 million and $( 3 ) million for the six months ended June 30, 2024 and June 30, 2023, respectively

19 ( 7 ) ( 18 ) 24

Actuarial gains (losses) and prior service credits (costs) for pension and other postretirement plans, net of tax of $ nil million and $ nil million for the three months ended June 30, 2024 and June 30, 2023, respectively;

and $ 1 million and $ nil million for the six months ended June 30, 2024 and June 30, 2023, respectively

2 - ( 1 ) ( 3 )

Other comprehensive (loss) income ( 28 ) 42 ( 216 ) 168

Comprehensive (loss) income ( 74 ) 95

Comprehensive income 1,281 1,254 1,207 1,349

Comprehensive (income) attributable to redeemable noncontrolling interests ( 10 ) ( 10 ) ( 12 ) ( 12 )

Comprehensive loss (income) attributable to noncontrolling interests 10 3 21 ( 4 )

Comprehensive (loss) income attributable to CRH plc ( 65 ) 86

Comprehensive income attributable to CRH plc 1,281 1,247 1,216 1,333

The accompanying notes form an integral part of the Condensed Consolidated Financial Statements.

2 unchanged sentences

(in $ millions, except share data)

March 31 December 31 March 31

June 30 December 31 June 30

2024 2023 2023

1 unchanged sentence

Cash and cash equivalents 3,066 6,341 4,275

Restricted cash 869 - -

Accounts receivable, net 5,893 4,507 6,119

27 unchanged sentences

Shareholders’ equity

Preferred stock, € 1.27 par value, 150,000 shares authorized and 50,000 shares issued and outstanding for 5 % preferred stock and 872,000 shares authorized, issued and outstanding for 7 % 'A' preferred stock, as of March 31, 2024, December 31, 2023, and March 31, 2023

Preferred stock, € 1.27 par value, 150,000 shares authorized and 50,000 shares issued and outstanding for 5 % preferred stock and 872,000 shares authorized, issued and outstanding for 7 % 'A' preferred stock, as of June 30, 2024, December 31, 2023, and June 30, 2023

Common stock, € 0.32 par value, 1,250,000,000 shares authorized;

729,477,337 , 734,519,598 and 752,140,338 issued and outstanding, as of March 31, 2024, December 31, 2023, and March 31, 2023 respectively

Treasury stock, at cost ( 41,897,429 , 42,419,281 and 11,596,581 shares as of March 31, 2024, December 31, 2023 and March 31, 2023 respectively)

725,113,896 , 734,519,598 and 752,140,338 issued and outstanding, as of June 30, 2024, December 31, 2023, and June 30, 2023 respectively

Treasury stock, at cost ( 41,540,247 , 42,419,281 and 24,158,408 shares as of June 30, 2024, December 31, 2023 and June 30, 2023 respectively)

( 2,143 ) ( 2,199 ) ( 1,140 )

10 unchanged sentences

(in $ millions)

Three months ended

Six months ended

Cash Flows from Operating Activities:

Net income (loss) 114 ( 31 )

Adjustments to reconcile net income (loss) to net cash used in operating activities:

Net income 1,423 1,181

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation, depletion and amortization 821 785

1 unchanged sentence

Gains on disposals from businesses and long-lived assets, net ( 248 ) ( 23 )

Deferred tax (benefit) expense ( 36 ) 49

Loss from equity method investments 4 6

Deferred tax expense 197 95

Income from equity method investments ( 2 ) ( 7 )

Pension and other postretirement benefits net periodic benefit cost 18 14

9 unchanged sentences

Pension and other postretirement benefits contributions ( 23 ) ( 23 )

Net cash used in operating activities ( 712 ) ( 671 )

Net cash provided by operating activities 773 963

Cash Flows from Investing Activities:

4 unchanged sentences

Settlements of derivatives ( 3 ) 7

Deferred divestiture consideration received 55 -

Other investing activities, net ( 128 ) ( 62 )

3 unchanged sentences

(in $ millions)

Three months ended

Six months ended

Cash Flows from Financing Activities:

9 unchanged sentences

Net cash used in financing activities ( 515 ) ( 1,746 )

Effect of exchange rate changes on cash and cash equivalents ( 97 ) 68

Decrease in cash and cash equivalents ( 3,081 ) ( 1,286 )

Cash and cash equivalents at the beginning of period 6,390 5,936

Cash and cash equivalents at the end of period 3,309 4,650

Effect of exchange rate changes on cash and cash equivalents, including restricted cash ( 85 ) 92

Decrease in cash and cash equivalents, including restricted cash ( 2,444 ) ( 1,661 )

Cash and cash equivalents and restricted cash at the beginning of period 6,390 5,936

Cash and cash equivalents and restricted cash at the end of period 3,946 4,275

Supplemental cash flow information:

1 unchanged sentence

Cash paid for income taxes 304 277

Reconciliation of cash and cash equivalents

Reconciliation of cash and cash equivalents and restricted cash

Cash and cash equivalents presented in the Condensed Consolidated Balance Sheets 3,066 4,275

Restricted cash presented in the Condensed Consolidated Balance Sheets 869 -

Cash and cash equivalents included in Assets held for sale 11 -

Total cash and cash equivalents presented in the Condensed Consolidated Statements of Cash Flows 3,309 4,650

Total cash and cash equivalents and restricted cash presented in the Condensed Consolidated Statements of Cash Flows 3,946 4,275

The accompanying notes form an integral part of the Condensed Consolidated Financial Statements.

4 unchanged sentences

Shares Amount Shares Amount Shares Amount

Balance at March 31, 2024 0.9 $ 1 729.5 $ 294 ( 41.9 ) ($ 2,166 ) $ 337 ($ 797 ) $ 22,346 $ 20,015 $ 401 $ 20,416

Net income - - - - - - - - 1,297 1,297 2 1,299

Other comprehensive loss - - - - - - - ( 16 ) - ( 16 ) ( 12 ) ( 28 )

Share-based compensation - - - - - - 33 - - 33 - 33

Repurchases and retirement of common stock - - ( 4.4 ) ( 2 ) - - - - ( 346 ) ( 348 ) - ( 348 )

Shares issued under employee share plans - - - - 0.4 23 ( 11 ) - ( 24 ) ( 12 ) - ( 12 )

Dividends declared on common stock - - - - - - - - ( 240 ) ( 240 ) - ( 240 )

Distributions to noncontrolling interests - - - - - - - - - - ( 1 ) ( 1 )

Adjustment of redeemable noncontrolling interests to redemption value - - - - - - - - ( 3 ) ( 3 ) - ( 3 )

Balance at June 30, 2024 0.9 $ 1 725.1 $ 292 ( 41.5 ) ($ 2,143 ) $ 359 ($ 813 ) $ 23,030 $ 20,726 $ 390 $ 21,116

For the three months ended June 30, 2024, dividends declared on common stock were $ 0.35 per common share.

Preferred Stock Common Stock Treasury Stock Additional Paid-in Capital Accumulated Other Comprehensive Loss Retained Earnings Total Shareholders' Equity Attributable to CRH plc Shareholders Noncontrolling Interests Total Equity

Shares Amount Shares Amount Shares Amount

Balance at December 31, 2023 0.9 $ 1 734.5 $ 296 ( 42.4 ) ($ 2,199 ) $ 454 ($ 616 ) $ 22,918 $ 20,854 $ 434 $ 21,288

9 unchanged sentences

Adjustment of redeemable noncontrolling interests to redemption value - - - - - - - - ( 7 ) ( 7 ) - ( 7 )

Balance at June 30, 2024 0.9 $ 1 725.1 $ 292 ( 41.5 ) ($ 2,143 ) $ 359 ($ 813 ) $ 23,030 $ 20,726 $ 390 $ 21,116

For the six months ended June 30, 2024, dividends declared on common stock were $ 0.70 per common share.

CRH Form 10-Q 7

Condensed Consolidated Statements of Changes in Equity (Unaudited)

(in $ millions, except share and per share data)

Shares Amount Shares Amount Shares Amount

Balance at March 31, 2023 0.9 $ 1 752.1 $ 302 ( 11.6 ) ($ 487 ) $ 420 ($ 673 ) $ 21,692 $ 21,255 $ 582 $ 21,837

For the three months ended March 31, 2024, dividends declared on common stock were $ 0.35 per common share.

Net income - - - - - - - - 1,199 1,199 3 1,202

Other comprehensive income - - - - - - - 48 - 48 ( 6 ) 42

Share-based compensation - - - - - - 30 - - 30 - 30

Repurchases of common stock - - - - ( 14.3 ) ( 713 ) - - - ( 713 ) - ( 713 )

Shares issued under employee share plans - - - - 1.8 60 ( 59 ) - - 1 - 1

Dividends declared on common stock - - - - - - - - 3 3 - 3

Distributions to noncontrolling interests - - - - - - - - - - ( 4 ) ( 4 )

Adjustment of redeemable noncontrolling interests to redemption value - - - - - - - - ( 2 ) ( 2 ) - ( 2 )

Balance at June 30, 2023 0.9 $ 1 752.1 $ 302 ( 24.1 ) ($ 1,140 ) $ 391 ($ 625 ) $ 22,892 $ 21,821 $ 575 $ 22,396

For the three months ended June 30, 2023, dividends declared on common stock were $ nil per common share.

1 unchanged sentence

Balance at December 31, 2022 0.9 $ 1 752.1 $ 302 ( 7.7 ) ($ 297 ) $ 443 ($ 787 ) $ 22,495 $ 22,157 $ 575 $ 22,732

Net loss - - - - - - - - ( 28 ) ( 28 ) ( 5 ) ( 33 )

Net income - - - - - - - - 1,171 1,171 ( 2 ) 1,169

Other comprehensive income - - - - - - - 162 - 162 6 168

3 unchanged sentences

Dividends declared on common stock - - - - - - - - ( 761 ) ( 761 ) - ( 761 )

Distributions to noncontrolling interests - - - - - - - - - - ( 4 ) ( 4 )

Adjustment of redeemable noncontrolling interests to redemption value - - - - - - - - ( 12 ) ( 12 ) - ( 12 )

Balance at March 31, 2023 0.9 $ 1 752.1 $ 302 ( 11.6 ) ($ 487 ) $ 420 ($ 673 ) $ 21,692 $ 21,255 $ 582 $ 21,837

For the three months ended March 31, 2023, dividends declared on common stock were $ 1.03 per common share.

Balance at June 30, 2023 0.9 $ 1 752.1 $ 302 ( 24.1 ) ($ 1,140 ) $ 391 ($ 625 ) $ 22,892 $ 21,821 $ 575 $ 22,396

For the six months ended June 30, 2023, dividends declared on common stock were $ 1.03 per common share.

The accompanying notes form an integral part of the Condensed Consolidated Financial Statements.

12 unchanged sentences

In the opinion of our management, these statements reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of our results of operations and financial condition for the periods and at the dates presented.

Operating results for the three months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024.

Operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024.

The Condensed Consolidated Balance Sheet at December 31, 2023 has been derived from the audited Consolidated Financial Statements at that date but does not include all of the information and notes required by U.S.

9 unchanged sentences

Restricted cash

The Company had restricted cash of $ 6 million, $ 6 million and $ 5 million at March 31, 2024, December 31, 2023 and March 31, 2023, respectively, included within Cash and cash equivalents in the Condensed Consolidated Balance Sheets.

The Company is restricted from utilizing the cash for purposes other than with government approval as it is linked to the awarding of government licenses for quarrying .

Restricted cash consists of amounts held in escrow related to transactions expected to close in a future period, including amounts payable for the acquisition of Adbri Ltd.

(Adbri) as referenced in Note 4, as well as amounts designated for exchange of assets under Section 1031 of the U.S.

Internal Revenue Code.

New accounting standards

Refer to Note 1.25 in the 2023 Form 10-K for impacts of new accounting standards.

There were no material impacts from the adoption of new accounting standards for the three months ended March 31, 2024.

There were no material impacts from the adoption of new accounting standards for the six months ended June 30, 2024.

CRH Form 10-Q 9

9 unchanged sentences

Outdoor Living Solutions integrate specialized materials, products and design features to enhance the quality of private and public spaces.

Three months ended March 31, 2024

Three months ended June 30, 2024

in $ millions Americas Materials Solutions Americas Building Solutions Europe Materials Solutions Europe Building Solutions Total

5 unchanged sentences

Total revenues 4,406 2,116 2,404 728 9,654

Three months ended March 31, 2023

Three months ended June 30, 2023

in $ millions Americas Materials Solutions Americas Building Solutions Europe Materials Solutions Europe Building Solutions Total

5 unchanged sentences

Total revenues 4,164 2,148 2,614 783 9,709

(i) Revenue from contracts with customers in the Road Solutions principal activities and products category that is recognized over time for the three months ended March 31 were:

Six months ended June 30, 2024

in $ millions Americas Materials Solutions Americas Building Solutions Europe Materials Solutions Europe Building Solutions Total

Principal activities and products

Essential Materials 2,215 - 2,197 - 4,412

Road Solutions (i) 4,393 - 2,220 - 6,613

Building & Infrastructure Solutions (ii) - 1,228 - 1,021 2,249

Outdoor Living Solutions - 2,581 - 332 2,913

Total revenues 6,608 3,809 4,417 1,353 16,187

Six months ended June 30, 2023

in $ millions Americas Materials Solutions Americas Building Solutions Europe Materials Solutions Europe Building Solutions Total

Principal activities and products

Essential Materials 2,062 - 2,478 - 4,540

Road Solutions (i) 3,997 - 2,314 - 6,311

Building & Infrastructure Solutions (ii) - 1,248 - 1,159 2,407

Outdoor Living Solutions - 2,561 - 317 2,878

Total revenues 6,059 3,809 4,792 1,476 16,136

CRH Form 10-Q 10

(i) Revenue from contracts with customers in the Road Solutions principal activities and products category that is recognized over time was:

Three months ended Six months ended

June 30 June 30

in $ millions 2024 2023 2024 2023

2 unchanged sentences

Total revenue from contracts with customers 2,189 2,108 3,199 3,032

(ii) Revenue from contracts with customers in the Building & Infrastructure Solutions principal activities and products category that is recognized over time for

the three months ended March 31 were:

(ii) Revenue from contracts with customers in the Building & Infrastructure Solutions principal activities and products category that is recognized over time was:

Three months ended Six months ended

June 30 June 30

in $ millions 2024 2023 2024 2023

2 unchanged sentences

Total revenue from contracts with customers 157 170 312 335

Contract assets were $ 637 million, $ 716 million and $ 622 million and contract liabilities were $ 430 million, $ 439 million and $ 337 million, at March 31, 2024, December 31, 2023 and March 31, 2023, respectively.

The decrease in contract assets during the three months ended March 31, 2024 was primarily attributed to the timing of billings and retentions received.

The decrease in contract liabilities during the three months ended March 31, 2024 was due to the timing of billings in excess of revenue recognized.

The Company recognized revenue of $ 265 million and $ 191 million for the three months ended March 31, 2024, and March 31, 2023, respectively, which was previously included in the contract liability balance at December 31, 2023 and December 31, 2022, respectively.

Contract assets include unbilled revenue and retentions held by customers in respect of construction contracts at March 31, 2024, December 31, 2023 and March 31, 2023 amounting to $ 416 million and $ 221 million, $ 471 million and $ 245 million, and $ 449 million and $ 173 million, respectively.

Contract assets were $ 887 million, $ 716 million and $ 906 million and contract liabilities were $ 448 million, $ 439 million and $ 329 million, at June 30, 2024, December 31, 2023 and June 30, 2023, respectively.

The Company recognized revenue of $ 339 million and $ 270 million for the six months ended June 30, 2024, and June 30, 2023, respectively, which was previously included in the contract liability balance at December 31, 2023 and December 31, 2022, respectively.

Contract assets include unbilled revenue and retentions held by customers in respect of construction contracts at June 30, 2024, December 31, 2023 and June 30, 2023 amounting to $ 664 million and $ 223 million, $ 471 million and $ 245 million, and $ 723 million and $ 183 million, respectively.

Unbilled receivables represent the estimated value of unbilled work for projects with performance obligations recognized over time.

2 unchanged sentences

The Company applies the practical expedient and does not adjust any of its transaction prices for the time value of money.

On March 31, 2024, the Company had $ 4,385 million of transaction price allocated to remaining performance obligations.

The majority of open contracts at March 31, 2024 will close and revenue will be recognized within 12 months of the balance sheet date.

CRH Form 10-Q 9

On June 30, 2024, the Company had $ 4,032 million of transaction price allocated to remaining performance obligations.

The majority of open contracts at June 30, 2024 are expected to close and revenue to be recognized within 12 months of the balance sheet date.

Assets held for sale and divestitures

3 unchanged sentences

The first phase of the transaction, comprising the Company’s Lime operations in Germany, Czech Republic and Ireland, closed on January 1, 2024 and the second phase comprising the operations in the United Kingdom, closed on March 27, 2024.

The divestitures resulted in a pretax gain of $ 115 million which was included in Other nonoperating income, net.

The results of the divested operations and the gain on divestiture were reported in the Europe Materials Solutions segment.

The divestitures resulted in a pretax gain of $ 115 million which is included in Other nonoperating income, net.

The results of the divested operations and the gain on divestiture are reported in the Europe Materials Solutions segment.

The third phase comprising the operations in Poland, is expected to close in the second half of 2024.

In December 2023, the Company entered into a sales agreement to dispose of certain of its cement and materials assets in Canada, which closed on April 1, 2024.

The Lime operations in Poland and the cement and materials assets in Canada comprise part of the Company’s Europe Materials Solutions and Americas Materials Solutions segments, respectively, and the relevant assets and liabilities have accordingly been reclassified as assets and liabilities held for sale.

The major classes of assets and liabilities classified as held for sale were:

March 31 December 31

in $ millions 2024 2023

Cash and cash equivalents 1 49

Accounts receivable, net 30 70

Inventories 59 102

Other assets 3 8

Property, plant and equipment, net 139 832

Operating lease right-of-use assets, net - 6

Goodwill 4 201

Assets held for sale 236 1,268

Accounts payable 34 59

Accrued expenses 1 17

Other liabilities 9 145

Deferred income tax liabilities - 148

Operating lease liabilities - 6

Liabilities held for sale 44 375

The Lime operations in Poland comprise part of the Company’s Europe Materials Solutions segment and the relevant assets, $ 67 million, and liabilities, $ 14 million, have accordingly been reclassified as assets and liabilities held for sale.

The disposal of certain cement, aggregates and readymixed concrete operations in Quebec, Canada, previously classified as held for sale, completed during the second quarter of 2024.

CRH Form 10-Q 11

2 unchanged sentences

On February 9, 2024, the Company acquired a portfolio of cement and readymixed concrete assets and operations in Texas, United States (the 'Hunter' acquisition) for a total consideration of $ 2,106 million.

During the three months ended March 31, 2024, the Company completed the acquisition of eight companies, each individually immaterial except for the aforementioned Hunter acquisition in the Americas Materials Solutions segment.

The Hunter acquisition is reported in the Americas Materials Solutions segment.

During the six months ended June 30, 2024, the Company completed the acquisition of 16 companies.

The total cash consideration for these acquisitions net of cash acquired, was $ 2,522 million.

1 unchanged sentence

The Company expects to finalize the valuation and complete the purchase price allocations as soon as practical but no later than one year from the acquisition dates.

The provisional amounts for assets acquired, liabilities assumed, and consideration related to the acquisitions at March 31, 2024 were:

The provisional amounts for assets acquired, liabilities assumed, and consideration related to the acquisitions at June 30, 2024 were:

in $ millions Hunter Other acquisitions (i) Total

Identifiable assets acquired and liabilities assumed

Cash and cash equivalents - 2 2

Accounts receivable, net - 12 12

15 unchanged sentences

Cash payments 2,106 418 2,524

Asset exchange - 41 41

Deferred consideration (stated at net present cost) - 2 2

Contingent consideration - 1 1

Total consideration 2,106 462 2,568

1 unchanged sentence

Cash consideration 2,106 418 2,524

cash and cash equivalents acquired - ( 2 ) ( 2 )

Total outflow in the Condensed Consolidated Statements of Cash Flows 2,106 416 2,522

(i) Other acquisitions are aggregated on the basis of individual immateriality.

As a result of the 2024 acquisitions, the Company recognized $ 20 million of amortizable intangible assets and $ 1,025 million of goodwill.

As a result of the acquisitions completed through June 30, 2024, the Company recognized $ 45 million of amortizable intangible assets and $ 1,171 million of goodwill.

Goodwill represents the excess of the consideration paid over the fair value of net assets acquired and includes the expected benefit of cost savings and synergies within the Company’s segments and intangible assets that do not qualify for separate recognition.

Of the goodwill recognized in respect of the acquisitions completed in the three months ended March 31, 2024, $ 980 million is expected to be deductible for tax purposes.

The amortizable intangible assets will be amortized against earnings over a weighted average of eight years .

There have been no other acquisitions completed subsequent to the balance sheet date which would be individually material to the Company.

Of the goodwill recognized in respect of the acquisitions completed in the six months ended June 30, 2024, $ 1,125 million is expected to be deductible for tax purposes.

The amortizable intangible assets will be amortized against earnings over a weighted average of six years .

On February 26, 2024, the Company announced that it had entered into a binding agreement to acquire a majority stake in Adbri (the ‘Adbri transaction’), a materials business in Australia.

On July 1, 2024, the Adbri transaction was completed with the acquisition of approximately 57 % of the issued share capital for $ 0.8 billion.

The assets acquired complement the Company’s core competencies in cement, concrete and aggregates while creating additional opportunities for growth and development for the Company’s existing Australian business.

Due to the timing of the Adbri transaction, the preliminary purchase price accounting remains ongoing as the Company continues to collect and assess information as of the transaction date.

CRH Form 10-Q 12

Acquisition-related costs

Acquisition-related costs have been included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Income.

These costs include legal and consulting expenses incurred in connection with acquisitions completed during the applicable period.

These costs include legal and consulting expenses incurred in connection with completed acquisitions.

The Company incurred the following acquisition-related costs:

Three months ended

Three months ended Six months ended

June 30 June 30

in $ millions 2024 2023 2024 2023

Acquisition-related costs

Hunter 2 - 22 -

Other acquisitions 2 - 2 2

Total acquisition-related costs 4 - 24 2

CRH Form 10-Q 11

The financial information regarding the acquisitions included in the Company’s Condensed Consolidated Statements of Income from the date of acquisition through March 31 were:

The financial information regarding the acquisitions included in the Company’s Condensed Consolidated Statements of Income from the date of acquisition through June 30 were:

in $ millions 2024 2023

Revenue 179 46

Net income (loss) attributable to CRH plc (i) 9 ( 1 )

(i) Net income (loss) amount excludes substantial acquisition-related costs that arose during the three months ended March 31, 2024, and March 31, 2023.

Net loss attributable to CRH plc (i) ( 17 ) ( 3 )

(i) Net loss amount excludes acquisition-related costs that arose during the six months ended June 30, 2024, and June 30, 2023.

Pro forma results of operations for the acquisitions have not been presented because they are not material to the Condensed Consolidated Financial Statements.

1 unchanged sentence

Accounts receivable, net, were:

March 31 December 31 March 31

June 30 December 31 June 30

in $ millions 2024 2023 2023

5 unchanged sentences

Total accounts receivable, net 5,893 4,507 6,119

Of the total Accounts receivable, net, balances, $ 32 million, $ 27 million and $ 41 million at March 31, 2024, December 31, 2023 and March 31, 2023, respectively, were due from equity method investments.

Of the total Accounts receivable, net balances $ 34 million, $ 27 million and $ 39 million at June 30, 2024, December 31, 2023 and June 30, 2023, respectively, were due from equity method investments.

The changes in the allowance for credit losses were as follows:

4 unchanged sentences

Foreign currency translation and other ( 2 ) 3

At March 31 150 134

At June 30 142 139

Inventories were:

March 31 December 31 March 31

June 30 December 31 June 30

in $ millions 2024 2023 2023

11 unchanged sentences

Reclassified from held for sale - - 199 - 199

Carrying value, March 31, 2024 5,381 2,800 1,334 610 10,125

Carrying value, June 30, 2024 5,520 2,803 1,320 608 10,251

in $ millions Americas Materials Solutions Americas Building Solutions Europe Materials Solutions Europe Building Solutions Total

9 unchanged sentences

Foreign currency translation adjustment 7 3 43 8 61

Carrying value, March 31, 2023 4,410 2,507 1,802 589 9,308

There were no charges for goodwill impairment in the three months ended March 31, 2024 and March 31, 2023.

Carrying value, June 30, 2023 4,432 2,512 1,806 588 9,338

There were no charges for goodwill impairment in the six months ended June 30, 2024 and June 30, 2023.

CRH Form 10-Q 14

1 unchanged sentence

Other current assets were:

March 31 December 31 March 31

June 30 December 31 June 30

in $ millions 2024 2023 2023

3 unchanged sentences

Accrued expenses were:

March 31 December 31 March 31

June 30 December 31 June 30

in $ millions 2024 2023 2023

3 unchanged sentences

Other current liabilities were:

March 31 December 31 March 31

June 30 December 31 June 30

in $ millions 2024 2023 2023

6 unchanged sentences

Other noncurrent liabilities were:

March 31 December 31 March 31

June 30 December 31 June 30

in $ millions 2024 2023 2023

7 unchanged sentences

Long-term debt was:

March 31 December 31 March 31

June 30 December 31 June 30

in $ millions Effective interest rate 2024 2023 2023

1 unchanged sentence

Dollar denominated unless otherwise noted)

3.125 % € notes due 2023

0.875 % euro Senior Notes due 2023

0.92 % - - 543

0.875 % € notes due 2023

1.875 % euro Senior Notes due 2024

2.02 % - 663 651

1.875 % € notes due 2024

3.875 % Senior Notes due 2025

3.93 % 1,250 1,250 1,250

Dollar notes due 2025

1.250 % euro Senior Notes due 2026

1.25 % 802 829 814

1.250 % € notes due 2026

3.400 % Senior Notes due 2027

3.49 % 600 600 600

Dollar notes due 2027

4.000 % euro Senior Notes due 2027

4.13 % 535 553 -

4.000 % € notes due 2027

3.950 % Senior Notes due 2028

4.07 % 900 900 900

Dollar notes due 2028

1.375 % euro Senior Notes due 2028

1.42 % 642 663 651

1.375 % € notes due 2028

5.200 % Senior Notes due 2029

5.30 % 750 - -

4.125 % Sterling notes due 2029

4.125 % Sterling Senior Notes due 2029

4.22 % 506 509 506

1.625 % € notes due 2030

1.625 % euro Senior Notes due 2030

1.72 % 802 829 814

4.000 % € notes due 2031

4.000 % euro Senior Notes due 2031

4.10 % 802 829 -

Dollar notes due 2033 (i)

6.400 % Senior Notes due 2033 (i)

6.43 % 213 213 213

4.250 % € notes due 2035

5.400 % Senior Notes due 2034

5.52 % 750 - -

Dollar notes due 2045

4.250 % euro Senior Notes due 2035

4.38 % 802 829 -

Dollar notes due 2047

5.125 % Senior Notes due 2045

5.25 % 500 500 500

Dollar notes due 2048

4.400 % Senior Notes due 2047

4.44 % 400 400 400

4.500 % Senior Notes due 2048

4.63 % 600 600 600

PHP interest bearing loan due 2027 6.02 % 386 396 423

6 unchanged sentences

Long-term debt 9,900 9,776 7,563

(i) The $ 300 million bond was issued in September 2003, and at the time of issuance the bond was partially swapped to floating interest rates.

In August 2009 and December 2010, $ 87 million of the issued notes were acquired by CRH plc as part of liability management exercises undertaken and the interest rate hedge was closed out.

The remaining fair value hedge adjustment on the hedged item in the Condensed Consolidated Balance Sheets was $ 29 million, $ 30 million, and $ 32 million at March 31, 2024, December 31, 2023, and March 31, 2023, respectively.

(ii) Of the Company’s nominal fixed rate debt at March 31, 2024 and December 31, 2023, $ 1,375 million, was hedged to daily compounded Secured Overnight Financing Rate (SOFR) using interest rate swaps.

Of the Company’s nominal fixed rate debt at March 31, 2023, $ 1,782 million was hedged to a mix of U.S.

Dollar London Interbank Offered Rate (LIBOR) and Euro Interbank Offered Rate (EURIBOR) floating rates using interest rate swaps.

(iii) Excludes borrowings from bank overdrafts of $ 118 million, $ 107 million and $ 156 million, which are recorded within Current portion of long-term debt in the Condensed Consolidated Balance Sheets at March 31, 2024, December 31, 2023, and March 31, 2023, respectively.

(i) The $ 300 million 6.400 % Senior Notes were issued in September 2003, and at the time of issuance the Senior Notes were partially swapped to floating interest rates.

In August 2009 and December 2010, $ 87 million of the issued Senior Notes were acquired by CRH plc as part of liability management exercises undertaken and the interest rate hedge was closed out.

The remaining fair value hedge adjustment on the hedged item in the Condensed Consolidated Balance Sheets was $ 28 million, $ 30 million, and $ 31 million at June 30, 2024, December 31, 2023, and June 30, 2023, respectively.

(ii) Of the Company’s nominal fixed rate debt at June 30, 2024 and December 31, 2023, $ 1,375 million, was hedged to daily compounded Secured Overnight Financing Rate (SOFR) using interest rate swaps.

Of the Company’s nominal fixed rate debt at June 30, 2023, $ 1,375 million was hedged to U.S.

Dollar London Interbank Offered Rate (LIBOR) using interest rate swaps.

(iii) Excludes borrowings from bank overdrafts of $ 159 million, $ 107 million and $ 162 million, which are recorded within Current portion of long-term debt in the Condensed Consolidated Balance Sheets at June 30, 2024, December 31, 2023, and June 30, 2023, respectively.

Senior Notes:

The Senior Notes are issued by wholly owned subsidiaries of the Company and carry full and unconditional guarantees from the Company, as defined in the indentures that govern them.

These Senior Notes represent senior unsecured obligations of the Company and hold an equal standing in payment priority with the Company's existing and future unsubordinated indebtedness.

The Senior Notes can be redeemed before their respective par call dates, with the exception of the 6.40 % Senior Notes due in 2033, at a make-whole redemption price.

These Senior Notes represent senior unsecured obligations of the Company and hold an equal standing in payment priority with the Company's existing and future senior unsubordinated indebtedness.

With the exception of the 6.400 % Senior Notes due 2033, all other Senior Notes can be redeemed before their respective par call dates, at a make-whole redemption price.

Post par call dates and before the respective maturity dates, the Senior Notes can be redeemed at a price equal to 100 % of the principal amount.

In the event of a change-of-control repurchase event, the Company is obligated to offer repurchase options for the 3.875 % Senior Notes due in 2025, 3.40 % Senior Notes due in 2027, 3.95 % Senior Notes due in 2028, 5.125 % Senior Notes due in 2045, 4.40 % Senior Notes due in 2047, and 4.50 % Senior Notes due in 2048.

In the event of a change-of-control repurchase event, the Company is obligated to offer repurchase options for the 3.875 % Senior Notes due 2025, 3.400 % Senior Notes due 2027, 3.95 % Senior Notes due 2028, 5.200 % Senior Notes due 2029, 5.400 % Senior Notes due 2034, 5.125 % Senior Notes due 2045, 4.400 % Senior Notes due 2047, and 4.500 % Senior Notes due 2048.

This repurchase involves a cash payment equal to 101 % of the principal amount, along with any accrued and unpaid interest.

If the Company's credit rating falls below investment-grade, the Company would be required to make an additional coupon step-up payment on the 3.875 % Senior Notes due in 2025 and 5.125 % Senior Notes due in 2045.

If the Company's credit rating falls below investment-grade, the Company would be required to make an additional coupon step-up payment on the 3.875 % Senior Notes due 2025 and 5.125 % Senior Notes due 2045.

The increase is 25 basis points per rating notch per agency, capped at 100 basis points per agency.

However, this coupon step-up would reverse if the Company returns to an investment-grade rating.

On January 9, 2024 the Company utilized available cash to fully redeem € 600 million of outstanding 1.875 % euro Senior Notes due January 2024.

In May 2024, wholly owned subsidiaries of the Company completed the issuance and sale of $ 750 million 5.200 % Senior Notes due 2029 and $ 750 million 5.400 % Senior Notes due 2034.

CRH Form 10-Q 16

Philippines (PHP) Debt:

In March 2017, the Company's subsidiary, Republic Cement & Building Materials, Inc., entered a credit arrangement with the Bank of the Philippine Islands.

In March 2017, the Company's subsidiary, Republic Cement & Building Materials, Inc., entered into a credit arrangement with the Bank of the Philippine Islands.

The Company does not provide a guarantee for this facility.

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The Company maintains a multi-currency Revolving Credit Facility (the 'RCF') with a syndicate of lenders.

The RCF offers a senior unsecured revolving facility of € 3,500 million over five years .

The RCF offers a senior unsecured revolving credit facility of € 3,500 million over five years , maturing May 11, 2029.

The terms of the facility allow for one further plus one year extension option which, if successfully exercised with the agreement of the Lenders, would extend the maturity to May 11, 2030.

Borrowings under the RCF bear interest at rates based upon an underlying base rate, plus a margin determined in accordance with a ratings-based pricing grid.

Base rates include SOFR for U.S.

Dollar, EURIBOR for euros, Sterling Overnight Index Average (SONIA) for Sterling, and Swiss Average Rate Overnight (SARON) for Swiss Francs, respectively.

The facility entails an annual commitment fee calculated as a percentage of the applicable margin.

During April 2024, the Company completed a one-year extension option on the undrawn committed facilities extending the maturity date to May 11, 2029.

The terms of the facility allow for one further plus-1 (+1) extension option which, if successfully exercised with the agreement of the Lenders, would extend the maturity to May 11, 2030.

The deferred financing costs associated with the RCF were $ 7 million at March 31, 2024.

Dollar, Euro Interbank Offer Rate (EURIBOR) for euros, Sterling Overnight Index Average (SONIA) for Sterling, and Swiss Average Rate Overnight (SARON) for Swiss Francs, respectively.

A commitment fee is payable on a quarterly basis based on a percentage of the applicable margin and calculated on the daily undrawn amount of the facility.

The deferred financing costs associated with the RCF were $ 6 million at June 30, 2024.

The total potential credit available through this arrangement is € 3,500 million, inclusive of the ability to issue letters of credit.

At March 31, 2024, December 31, 2023, and March 31, 2023, there were no outstanding borrowings or letters of credit issued under this facility and the undrawn committed facilities available to be drawn by the Company at March 31, 2024 were $ 3,781 million (€ 3,500 million equivalent).

At June 30, 2024, December 31, 2023, and June 30, 2023, there were no outstanding borrowings or letters of credit issued under this facility and the undrawn committed facilities available to be drawn by the Company at June 30, 2024 were $ 3,743 million (€ 3,500 million equivalent).

The RCF includes customary terms and conditions for investment-grade borrowers.

There are no financial covenants.

At March 31, 2024, the Company had a $ 2,000 million U.S.

At June 30, 2024, the Company had a $ 4,000 million U.S.

Dollar Commercial Paper Program and a € 1,500 million Euro Commercial Paper Program.

In April 2024, the Company increased the size of its existing U.S.

Dollar Commercial Paper Program to $ 4,000 million.

The purpose of these programs is to provide short-term liquidity as required.

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Commercial paper borrowings may vary during the period, largely as a result of fluctuations in funding requirements.

The long-term debt maturities, net of the unamortized discounts and debt issuance costs, for the periods subsequent to March 31, 2024 are as follows:

The long-term debt maturities, net of the unamortized discounts and debt issuance costs, for the periods subsequent to June 30, 2024 are as follows:

in $ millions Remainder of 2024 2025 2026 2027 2028 2029 and thereafter Total

7 unchanged sentences

Considerable judgment may be required in interpreting market data used to develop the estimates of fair value.

The carrying values of the Company’s Long-term debt were $ 12,554 million, $ 11,535 million, and $ 9,678 million at March 31, 2024, December 31, 2023, and March 31, 2023, respectively.

The fair values of the Company’s Long-term debt were $ 12,244 million, $ 11,337 million, and $ 9,159 million at March 31, 2024, December 31, 2023, and March 31, 2023, respectively.

The carrying values of the Company’s Long-term debt were $ 12,959 million, $ 11,535 million, and $ 9,586 million at June 30, 2024, December 31, 2023, and June 30, 2023, respectively.

The fair values of the Company’s Long-term debt were $ 12,520 million, $ 11,337 million, and $ 8,990 million at June 30, 2024, December 31, 2023, and June 30, 2023, respectively.

The Company’s Long-term debt obligations are Level 2 instruments whose fair value is derived from quoted market prices.

3 unchanged sentences

See Note 17 for the changes in the fair value of redeemable noncontrolling interests.

The carrying values of the Company’s Cash and cash equivalents, Accounts receivable, net, Current portion of long-term debt, Accounts payable, Accrued expenses, and Other current liabilities approximate their fair values because of the short-term nature of these instruments.

The carrying values of the Company’s Cash and cash equivalents, Restricted cash, Accounts receivable, net, Current portion of long-term debt, Accounts payable, Accrued expenses, and Other current liabilities approximate their fair values because of the short-term nature of these instruments.

CRH Form 10-Q 17

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The tax provision is adjusted for discrete items that occur in the applicable interim period to arrive at the effective income tax rate.

The summary of the income tax benefit from operations was:

Three months ended

The summary of the income tax expense from operations was:

Three months ended Six months ended

June 30 June 30

in $ millions 2024 2023 2024 2023

Total tax benefit ( 19 ) ( 14 )

Total tax expense 430 379 411 365

Effective income tax rate 25 % 24 % 22 % 24 %

The movement in the effective tax rate compared with the corresponding period in the prior year was primarily driven by the impact of the movement in tax provisions, a tax deduction for share-based compensation and the largely tax-exempt divestiture of phases one and two of the European Lime operations.

The increase in the effective tax rate for this quarter in comparison to the three months ended June 30, 2023 is mainly driven by a change in the mix of income earned in jurisdictions with a higher rate of tax.

The decrease in the year-to-date effective tax rate compared to the six months ended June 30, 2023 is due to the offset of items arising in the first quarter (being the movement in tax provisions, a tax deduction for share-based compensation and the largely tax-exempt divestiture of phases one and two of the European Lime operations).

Earnings per share (EPS)

The calculation of basic and diluted earnings per share was as follows:

Three months ended

Three months ended Six months ended

June 30 June 30

in $ millions, except share and per share data 2024 2023 2024 2023

Net income (loss) 114 ( 31 )

Net income 1,309 1,212 1,423 1,181

Net (income) attributable to redeemable noncontrolling interests ( 10 ) ( 10 ) ( 12 ) ( 12 )

Net loss attributable to noncontrolling interests 4 5

Net (income) loss attributable to noncontrolling interests ( 2 ) ( 3 ) 2 2

Adjustment of redeemable noncontrolling interests to redemption value ( 3 ) ( 2 ) ( 7 ) ( 12 )

Net income (loss) attributable to CRH plc for EPS - basic and diluted 112 ( 38 )

Net income attributable to CRH plc for EPS - basic and diluted 1,294 1,197 1,406 1,159

Weighted average common shares outstanding - basic (i) 685.5 734.7 686.6 738.8

1 unchanged sentence

Weighted average common shares outstanding - diluted 688.8 738.2 691.1 743.4

Earnings (loss) per share attributable to CRH plc

Earnings per share attributable to CRH plc

Basic $ 1.89 $ 1.63 $ 2.05 $ 1.57

1 unchanged sentence

(i) The weighted average number of common shares included in the computation of basic and diluted earnings per share has been adjusted to exclude shares repurchased and held by the Company as Treasury Stock given that these shares do not rank for dividend.

(ii) Common shares that would only be issued contingent on certain conditions totaling 4,045,950 at March 31, 2024 are excluded from the computation of diluted earnings per share where the conditions governing exercisability have not been satisfied as of the end of the reporting period or they are antidilutive for the period presented.

In periods of loss, shares that otherwise would have been included in the diluted weighted average common shares outstanding computation have been excluded.

Due to the net loss for the three months ended March 31, 2023, contingently issuable common shares representing 6,928,751 , are excluded from the computation of diluted net loss per share as their inclusion would have been antidilutive .

(ii) Common shares that would only be issued contingent on certain conditions totaling 4,904,276 at June 30, 2024 and 5,700,540 at June 30, 2023 are excluded from the computation of diluted earnings per share where the conditions governing exercisability have not been satisfied as of the end of the reporting period or they are antidilutive for the period presented.

CRH Form 10-Q 18

3 unchanged sentences

Hedges Pension and Other Postretirement Plans Total

Balance at March 31, 2024 ( 580 ) ( 84 ) ( 133 ) ( 797 )

Other comprehensive (loss) income before reclassifications ( 44 ) 27 - ( 17 )

Amounts reclassified from Accumulated other comprehensive loss ( 5 ) ( 8 ) 2 ( 11 )

Net current-period other comprehensive (loss) income ( 49 ) 19 2 ( 28 )

Other comprehensive loss attributable to noncontrolling interests 12 - - 12

Balance at June 30, 2024 ( 617 ) ( 65 ) ( 131 ) ( 813 )

Balance at December 31, 2023 ( 439 ) ( 47 ) ( 130 ) ( 616 )

3 unchanged sentences

Other comprehensive loss attributable to noncontrolling interests 19 - - 19

Balance at June 30, 2024 ( 617 ) ( 65 ) ( 131 ) ( 813 )

Balance at March 31, 2023 ( 660 ) 12 ( 25 ) ( 673 )

Other comprehensive income (loss) before reclassifications 49 ( 10 ) - 39

Amounts reclassified from Accumulated other comprehensive loss - 3 - 3

Net current-period other comprehensive income (loss) 49 ( 7 ) - 42

Other comprehensive loss attributable to noncontrolling interests 6 - - 6

Balance at June 30, 2023 ( 605 ) 5 ( 25 ) ( 625 )

Balance at December 31, 2022 ( 746 ) ( 19 ) ( 22 ) ( 787 )

3 unchanged sentences

Other comprehensive (income) attributable to noncontrolling interests ( 6 ) - - ( 6 )

Balance at March 31, 2023 ( 660 ) 12 ( 25 ) ( 673 )

Balance at June 30, 2023 ( 605 ) 5 ( 25 ) ( 625 )

The amounts reclassified from Accumulated other comprehensive loss to income were as follows:

Three months ended

Three months ended Six months ended

June 30 June 30

in $ millions 2024 2023 2024 2023

1 unchanged sentence

Cost of product revenues ( 9 ) 3 22 17

Income tax benefit ( 4 ) ( 4 )

Income tax expense (benefit) 1 - ( 3 ) ( 4 )

Total ( 8 ) 3 19 13

Pension and other postretirement plans

3 unchanged sentences

Reclassifications from Accumulated other comprehensive loss to income ( 6 ) 3 18 10

CRH Form 10-Q 19

Segment information

14 unchanged sentences

The Company’s reportable segments are the same as the Company’s operating segments and correspond with how the Chief Operating Decision Maker (CODM) regularly reviews financial information to allocate resources and assess performance under the Company’s organizational structure.

CRH Form 10-Q 18

The CODM monitors the operating results of segments separately in order to allocate resources between segments and to assess performance.

Segment performance is evaluated using Adjusted EBITDA.

Given that Interest expense and Income tax benefit are managed on a centralized basis, these items are not allocated between operating segments for the purposes of the information presented to the CODM and are accordingly omitted from the detailed segmental analysis below.

Given that Interest expense and Income tax expense are managed on a centralized basis, these items are not allocated between operating segments for the purposes of the information presented to the CODM and are accordingly omitted from the detailed segmental analysis below.

There are no asymmetrical allocations to reporting segments which would require disclosure.

1 unchanged sentence

The key performance measures for the Company’s reportable segments were:

Three months ended

Three months ended Six months ended

June 30 June 30

in $ millions 2024 2023 2024 2023

5 unchanged sentences

Adjusted EBITDA

Three months ended

Three months ended Six months ended

June 30 June 30

in $ millions 2024 2023 2024 2023

4 unchanged sentences

Total Adjusted EBITDA 2,255 2,014 2,700 2,400

Three months ended

CRH Form 10-Q 20

Three months ended Six months ended

June 30 June 30

in $ millions 2024 2023 2024 2023

3 unchanged sentences

Interest expense ( 155 ) ( 73 ) ( 288 ) ( 154 )

Gain on divestitures and unrealized gains on investments (i) (ii) 160 -

Gain on divestitures and unrealized gains on investments (i) 23 - 183 -

Pension income excluding current service cost component (i) 1 2 2 2

Other interest, net (i) ( 1 ) - ( 1 ) -

Substantial acquisition-related costs ( 2 ) - ( 22 ) -

Income (loss) from operations before income tax expense and income from equity method investments 99 ( 39 )

(i) Gain on divestitures and unrealized gains on investments and pension income excluding current service cost component have been included in Other nonoperating income, net in the Condensed Consolidated Statements of Income.

(ii) For the period ended March 31, 2024, there was a gain on divestitures of $ 115 million within Europe Materials Solutions.

Income from operations before income tax expense and income from equity method investments 1,733 1,578 1,832 1,539

(i) Gain on divestitures and unrealized gains on investments, pension income excluding current service cost component and other interest, net have been included in Other nonoperating income, net in the Condensed Consolidated Statements of Income.

Depreciation, depletion and amortization for each of the segments were:

Three months ended

Three months ended Six months ended

June 30 June 30

in $ millions 2024 2023 2024 2023

Depreciation, depletion and amortization

Americas Materials Solutions 208 195 398 381

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Total depreciation, depletion and amortization 424 401 821 785

CRH Form 10-Q 19

Pension and other postretirement benefits

Components of Net Periodic Benefit Cost

The components of net periodic benefit cost (income) recognized in the Condensed Consolidated Statements of Income for the three months ended March 31 for the Pension and Other Postretirement Benefit (OPEB) Plans were:

The components of net periodic benefit cost (income) recognized in the Condensed Consolidated Statements of Income for the Pension and Other Postretirement Benefit (OPEB) Plans were:

Pension and OPEB Plans

Three months ended March 31 Three months ended March 31

Three months ended Six months ended Three months ended Six months ended

June 30 June 30 June 30 June 30

in $ millions 2024 2023 2024 2023 2024 2023 2024 2023

3 unchanged sentences

Amortization of:

Prior service credit – – ( 3 ) ( 3 )

Past service credit - - - - ( 3 ) ( 3 ) ( 6 ) ( 6 )

Actuarial loss 1 1 2 2 1 - 2 -

1 unchanged sentence

Net periodic benefit cost (ii) (iii) 2 2 4 4 7 4 11 10

(i) Settlement gain of $ 3 million relates to pension plans divested as part of the sale of the Company's Lime operations in Europe and is included in gain on divestitures, within Other nonoperating income, net.

(ii) Includes net periodic benefit cost of $ 1 million and $ 1 million related to OPEB plans for the three months ended March 31, 2024 and March 31, 2023, respectively.

(i) Settlement gain of $ 3 million relates to pension plans divested as part of the sale of the Company's Lime operations in Europe and is included in gain on divestitures and unrealized gains on investments, within Other nonoperating income, net.

(ii) Includes net periodic benefit cost of $ 1 million and $ 1 million related to OPEB plans for the three months ended June 30, 2024 and June 30, 2023, and $ 2 million and $ 2 million for the six months ended June 30, 2024 and June 30, 2023, respectively.

(iii) Service cost is included within Cost of revenues and Selling, general and administrative expenses while all other cost components are recorded within Other nonoperating income, net.

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The Company’s voting rights are not proportional to its share of earnings and distributions, and substantially all of the activities of the Philippines business are conducted on behalf of the Company and controlled by the Company through contractual relationships.

Therefore, the Philippines business meets the definition of a VIE for which the Company is the primary beneficiary and, therefore, is consolidated.

The Philippines business meets the definition of a VIE for which the Company is the primary beneficiary and, therefore, is consolidated.

Further, the Company has provided subordinated debt to the intermediate parent of the Philippines business which exposes the Company to the profits and losses of the Philippines business.

1 unchanged sentence

The carrying amounts of assets and liabilities of the consolidated VIE, reported within the Condensed Consolidated Balance Sheets before intragroup eliminations with other CRH plc companies were:

March 31 December 31 March 31

June 30 December 31 June 30

in $ millions 2024 2023 2023

23 unchanged sentences

The operating results of the consolidated VIE, reported within the Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Cash Flows before intragroup eliminations with other CRH plc companies were:

Three months ended

Three months ended Six months ended

June 30 June 30

in $ millions 2024 2023 2024 2023

3 unchanged sentences

Net loss ( 3 ) ( 6 ) ( 12 ) ( 18 )

Net cash used in operating activities ( 6 ) ( 7 )

Net cash (used in) provided by operating activities ( 2 ) 6

CRH Form 10-Q 22

Redeemable noncontrolling interests

The redeemable noncontrolling interests comprises the noncontrolling interests in two of the Company’s North American subsidiaries, that are currently redeemable.

The redeemable noncontrolling interests comprise the noncontrolling interests in two of the Company’s North American subsidiaries, that are currently redeemable.

The Company has the ability to exercise the call option for the noncontrolling interests on or after December 31, 2031.

5 unchanged sentences

in $ millions

Balance at December 31, 2023 333

Balance at March 31, 2024 326

Net income attributable to redeemable noncontrolling interests 10

1 unchanged sentence

Dividends paid ( 4 )

Balance at June 30, 2024 335

Balance at March 31, 2023 307

Net income attributable to redeemable noncontrolling interests 10

Adjustment to the redemption value 2

Dividends paid ( 6 )

Balance at June 30, 2023 313

in $ millions

Balance at December 31, 2023 333

2 unchanged sentences

Dividends paid ( 17 )

Balance at March 31, 2023 307

Balance at June 30, 2024 335

Balance at December 31, 2022 308

Net income attributable to redeemable noncontrolling interests 12

Adjustment to the redemption value 12

Dividends paid ( 19 )

Balance at June 30, 2023 313

Commitments and contingencies

The Company has given letters of guarantee to secure obligations of subsidiary undertakings as follows:

$ 12.4 billion, $ 11.3 billion, and $ 9.5 billion in respect of loans and borrowings, bank advances and derivative obligations at March 31, 2024, December 31, 2023 and March 31, 2023 respectively, and $ 0.4 billion, $ 0.4 billion, and $ 0.4 billion at March 31, 2024, December 31, 2023 and March 31, 2023, respectively, in respect of letters of credit due within one year .

$ 12.8 billion, $ 11.3 billion, and $ 9.5 billion in respect of loans and borrowings, bank advances and derivative obligations at June 30, 2024, December 31, 2023 and June 30, 2023, respectively, and $ 0.4 billion, $ 0.4 billion, and $ 0.4 billion at June 30, 2024, December 31, 2023 and June 30, 2023, respectively, in respect of letters of credit due within one year .

Legal Proceedings

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements