What changed in this filing

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Item 1. Financial Statements

2024-11-07 compared with 2024-08-08 · 176 added, 157 removed, 662 unchanged (33% of the section changed)

2 unchanged sentences

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

Three months ended Six months ended

June 30 June 30

Three months ended Nine months ended

September 30 September 30

2024 2023 2024 2023

17 unchanged sentences

Net (income) attributable to redeemable noncontrolling interests ( 9 ) ( 9 ) ( 21 ) ( 21 )

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

Net (income) attributable to noncontrolling interests ( 4 ) ( 3 ) ( 2 ) ( 1 )

Net income attributable to CRH plc 1,376 1,306 2,789 2,477

9 unchanged sentences

(in $ millions)

Three months ended Six months ended

June 30 June 30

Three months ended Nine months ended

September 30 September 30

2024 2023 2024 2023

Net income 1,389 1,318 2,812 2,499

Other comprehensive (loss) income, net of tax:

Other comprehensive income (loss), net of tax:

Currency translation adjustment 363 ( 130 ) 166 17

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

Net change in fair value of effective portion of cash flow hedges, net of tax of $ 6 million and $ 2 million for the three months ended September 30, 2024 and September 30, 2023, respectively;

and $ 8 million and $( 1 ) million for the nine months ended September 30, 2024 and September 30, 2023, respectively

( 8 ) ( 20 ) ( 26 ) 4

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

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 September 30, 2024 and September 30, 2023, respectively;

and $ nil million and $ nil million for the nine months ended September 30, 2024 and September 30, 2023, respectively

( 7 ) ( 1 ) ( 8 ) ( 4 )

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

Other comprehensive income (loss) 348 ( 151 ) 132 17

Comprehensive income 1,737 1,167 2,944 2,516

Comprehensive (income) attributable to redeemable noncontrolling interests ( 9 ) ( 9 ) ( 21 ) ( 21 )

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

Comprehensive (income) loss attributable to noncontrolling interests ( 38 ) 10 ( 17 ) 6

Comprehensive income attributable to CRH plc 1,690 1,168 2,906 2,501

3 unchanged sentences

(in $ millions, except share data)

June 30 December 31 June 30

September 30 December 31 September 30

2024 2023 2023

31 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 June 30, 2024, December 31, 2023, and June 30, 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 September 30, 2024, December 31, 2023, and September 30, 2023

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

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)

721,319,880 , 734,519,598 and 750,725,468 issued and outstanding, as of September 30, 2024, December 31, 2023, and September 30, 2023 respectively

Treasury stock, at cost ( 41,493,074 , 42,419,281 and 41,554,960 shares as of September 30, 2024, December 31, 2023 and September 30, 2023 respectively)

( 2,141 ) ( 2,199 ) ( 2,132 )

10 unchanged sentences

(in $ millions)

Six months ended

Nine months ended

Cash Flows from Operating Activities:

30 unchanged sentences

(in $ millions)

Six months ended

Nine months ended

Cash Flows from Financing Activities:

19 unchanged sentences

Restricted cash presented in the Condensed Consolidated Balance Sheets 102 –

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

Total cash and cash equivalents and restricted cash presented in the Condensed Consolidated Statements of Cash Flows 3,080 5,722

5 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

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

Net income – – – – – – – – 1,376 1,376 4 1,380

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

Other comprehensive income – – – – – – – 314 – 314 34 348

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

3 unchanged sentences

Distributions to noncontrolling interests – – – – – – – – – – ( 5 ) ( 5 )

Noncontrolling interests arising on acquisition – – – – – – – – – – 507 507

Adjustment of redeemable noncontrolling interests to redemption value – – – – – – – – ( 23 ) ( 23 ) – ( 23 )

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.

Balance at September 30, 2024 0.9 $ 1 721.3 $ 291 ( 41.5 ) ($ 2,141 ) $ 392 ($ 499 ) $ 23,831 $ 21,875 $ 930 $ 22,805

For the three months ended September 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

2 unchanged sentences

Net income – – – – – – – – 2,789 2,789 2 2,791

Other comprehensive loss - - - - - - - ( 197 ) - ( 197 ) ( 19 ) ( 216 )

Other comprehensive income – – – – – – – 117 – 117 15 132

Share-based compensation – – – – – – 96 – – 96 – 96

5 unchanged sentences

Divestiture of noncontrolling interests – – – – – – – – – – ( 18 ) ( 18 )

Noncontrolling interests arising on acquisition – – – – – – – – – – 507 507

Adjustment of redeemable noncontrolling interests to redemption value – – – – – – – – ( 30 ) ( 30 ) – ( 30 )

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.

Balance at September 30, 2024 0.9 $ 1 721.3 $ 291 ( 41.5 ) ($ 2,141 ) $ 392 ($ 499 ) $ 23,831 $ 21,875 $ 930 $ 22,805

For the nine months ended September 30, 2024, dividends declared on common stock were $ 1.05 per common share.

CRH Form 10-Q 7

3 unchanged sentences

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

Balance at June 30, 2023 0.9 $ 1 752.1 $ 302 ( 24.2 ) ($ 1,140 ) $ 391 ($ 625 ) $ 22,892 $ 21,821 $ 575 $ 22,396

Net income – – – – – – – – 1,306 1,306 3 1,309

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

Other comprehensive loss – – – – – – – ( 138 ) – ( 138 ) ( 13 ) ( 151 )

Share-based compensation – – – – – – 32 – – 32 – 32

Repurchases of common stock – – – – ( 17.5 ) ( 993 ) – – – ( 993 ) – ( 993 )

Repurchases and retirement of common stock – – ( 1.4 ) – – – – – ( 79 ) ( 79 ) – ( 79 )

Shares issued under employee share plans – – – – 0.1 1 – – – 1 – 1

2 unchanged sentences

Adjustment of redeemable noncontrolling interests to redemption value – – – – – – – – ( 6 ) ( 6 ) – ( 6 )

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.

Balance at September 30, 2023 0.9 $ 1 750.7 $ 302 ( 41.6 ) ($ 2,132 ) $ 423 ($ 763 ) $ 23,936 $ 21,767 $ 561 $ 22,328

For the three months ended September 30, 2023, dividends declared on common stock were $ 0.25 per common share.

5 unchanged sentences

Repurchases of common stock – – – – ( 37.4 ) ( 1,952 ) – – – ( 1,952 ) – ( 1,952 )

Repurchases and retirement of common stock – – ( 1.4 ) – – – – – ( 79 ) ( 79 ) – ( 79 )

Shares issued under employee share plans – – – – 3.5 117 ( 112 ) – ( 1 ) 4 – 4

2 unchanged sentences

Adjustment of redeemable noncontrolling interests to redemption value – – – – – – – – ( 18 ) ( 18 ) – ( 18 )

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.

Balance at September 30, 2023 0.9 $ 1 750.7 $ 302 ( 41.6 ) ($ 2,132 ) $ 423 ($ 763 ) $ 23,936 $ 21,767 $ 561 $ 22,328

For the nine months ended September 30, 2023, dividends declared on common stock were $ 1.28 per common share.

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

4 unchanged sentences

CRH plc (the 'Company') is a multinational company that operates in the building materials industry, providing essential products and services for construction projects primarily in North America and Europe.

The Company is one of the largest suppliers of building materials globally.

The Company is a major producer of aggregates, cement, readymixed concrete, asphalt, paving and construction services, and value-added building products.

The Company is one of the largest suppliers of building materials globally, and is a major producer of aggregates, cement, readymixed concrete, asphalt, paving and construction services, and value-added building products.

The Company provides solutions to a wide range of customers, including contractors, builders, engineers, infrastructure developers, and the residential market.

2 unchanged sentences

GAAP) for interim financial information and with the instructions to the Quarterly Report on Form 10-Q and in Article 10 of Regulation S-X.

The Company has continued to follow the accounting policies set forth in the audited Consolidated Financial Statements and related notes thereto included in the Company’s 2023 Form 10-K.

The Company has continued to follow the accounting policies set forth in the audited Consolidated Financial Statements and related notes thereto included in the Company’s 2023 Annual Report on Form 10-K.

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 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.

Operating results for the three and nine months ended September 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.

GAAP for complete financial statements.

These Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in the Company’s 2023 Form 10-K.

These Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in the Company’s 2023 Annual Report on Form 10-K.

The preparation of the Company's Condensed Consolidated Financial Statements requires management to make certain estimates and assumptions about future events.

6 unchanged sentences

Restricted cash

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.

Restricted cash consists of amounts held in escrow designated for the purchase of like-kind exchange replacement 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 six months ended June 30, 2024.

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

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

CRH Form 10-Q 9

The Company disaggregates revenue based on its operating and reportable segments.

The Company’s reportable segments are:

The Company’s operating and reportable segments are:

(1) Americas Materials Solutions, (2) Americas Building Solutions, (3) Europe Materials Solutions, and (4) Europe Building Solutions.

6 unchanged sentences

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

Three months ended June 30, 2024

Three months ended September 30, 2024

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

5 unchanged sentences

Total revenues 5,299 1,757 2,795 664 10,515

Three months ended June 30, 2023

Three months ended September 30, 2023

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

5 unchanged sentences

Total revenues 5,080 1,738 2,617 693 10,128

Six months ended June 30, 2024

Nine months ended September 30, 2024

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

5 unchanged sentences

Total revenues 11,907 5,566 7,212 2,017 26,702

Six months ended June 30, 2023

Nine months ended September 30, 2023

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

7 unchanged sentences

(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

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September 30 September 30

in $ millions 2024 2023 2024 2023

3 unchanged sentences

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

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June 30 June 30

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September 30 September 30

in $ millions 2024 2023 2024 2023

2 unchanged sentences

Total revenue from contracts with customers 128 142 440 477

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.

Contract assets were $ 1,004 million, $ 716 million and $ 1,005 million and contract liabilities were $ 495 million, $ 439 million and $ 404 million, at September 30, 2024, December 31, 2023 and September 30, 2023, respectively.

The Company recognized revenue of $ 382 million and $ 328 million for the nine months ended September 30, 2024, and September 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 September 30, 2024, December 31, 2023 and September 30, 2023 amounting to $ 752 million and $ 252 million, $ 471 million and $ 245 million, and $ 790 million and $ 215 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 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.

On September 30, 2024, the Company had $ 4,069 million of transaction price allocated to remaining performance obligations.

The majority of open contracts at September 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

In November 2023, the Company entered into a sales agreement with SigmaRoc plc.

to divest of its Lime operations in Europe for consideration of $ 1.1 billion.

In November 2023, the Company entered into a sales agreement with SigmaRoc plc to divest of its Lime operations in Europe for consideration of $ 1.1 billion.

The transaction was structured in three phases.

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 is included in Other nonoperating income, net.

The third phase, comprising the operations in Poland previously classified as held for sale, closed on August 30, 2024.

In total, the divestiture resulted in a pretax gain of $ 163 million which is included in Other nonoperating income, net in the Condensed Consolidated Statements of Income.

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.

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

3 unchanged sentences

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.

On July 1, 2024, the Company acquired approximately 57 % of the issued share capital of Adbri (the 'Adbri' acquisition), a materials business in Australia, for a total consideration of $ 802 million.

The Adbri acquisition is reported in the Europe Materials Solutions segment.

During the nine months ended September 30, 2024, the Company completed the acquisition of 28 companies.

The total cash consideration for these acquisitions net of cash acquired, was $ 3,853 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 June 30, 2024 were:

in $ millions Hunter Other acquisitions (i) Total

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

in $ millions Adbri Hunter Other acquisitions (i) Total

Identifiable assets acquired and liabilities assumed

4 unchanged sentences

Property, plant and equipment, net 1,361 1,070 431 2,862

Equity method investments 366 – – 366

Intangible assets, net 4 2 75 81

8 unchanged sentences

Goodwill 244 975 489 1,708

Noncontrolling interests ( 507 ) – – ( 507 )

Total consideration 802 2,106 1,030 3,938

10 unchanged sentences

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

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.

As a result of the acquisitions completed through September 30, 2024, the Company recognized $ 81 million of amortizable intangible assets and $ 1,708 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 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.

Of the goodwill recognized in respect of the acquisitions completed in the nine months ended September 30, 2024, $ 1,379 million is expected to be deductible for tax purposes.

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

CRH Form 10-Q 12

3 unchanged sentences

The Company incurred the following acquisition-related costs:

Three months ended Six months ended

June 30 June 30

Three months ended Nine months ended

September 30 September 30

in $ millions 2024 2023 2024 2023

Adbri 22 – 22 –

Hunter 1 – 23 –

1 unchanged sentence

Total acquisition-related costs 28 4 52 6

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:

The post-acquisition impact of acquisitions completed during the financial period on the Company’s results for the period ended September 30 was:

in $ millions 2024 2023

1 unchanged sentence

Net loss attributable to CRH plc (i) ( 3 ) ( 7 )

(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.

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

Pro forma results of operations for the current year acquisitions, as if they were combined as of January 1, 2023, have not been presented because they are not material to the Condensed Consolidated Financial Statements.

Accounts receivable, net

Accounts receivable, net, were:

June 30 December 31 June 30

September 30 December 31 September 30

in $ millions 2024 2023 2023

5 unchanged sentences

Total accounts receivable, net 6,422 4,507 5,972

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:

Of the total Accounts receivable, net balances $ 58 million, $ 27 million and $ 33 million at September 30, 2024, December 31, 2023 and September 30, 2023, respectively, were due from equity method investments.

The changes in the allowance for credit losses were:

in $ millions 2024 2023

3 unchanged sentences

Foreign currency translation and other 5 –

At June 30 142 139

At September 30 151 139

Inventories were:

June 30 December 31 June 30

September 30 December 31 September 30

in $ millions 2024 2023 2023

11 unchanged sentences

Reclassified from held for sale – – 201 – 201

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

Carrying value, September 30, 2024 5,676 2,913 1,681 636 10,906

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

9 unchanged sentences

Foreign currency translation adjustment 1 1 ( 6 ) ( 4 ) ( 8 )

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.

Carrying value, September 30, 2023 4,423 2,755 1,785 582 9,545

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

CRH Form 10-Q 14

1 unchanged sentence

Other current assets were:

June 30 December 31 June 30

September 30 December 31 September 30

in $ millions 2024 2023 2023

Prepayments 323 285 290

Other financial assets 163 – –

Other 208 193 140

Total other current assets 694 478 430

Other noncurrent assets were:

September 30 December 31 September 30

in $ millions 2024 2023 2023

Pension assets 296 271 358

Other 534 361 334

Total other noncurrent assets 830 632 692

Accrued expenses were:

June 30 December 31 June 30

September 30 December 31 September 30

in $ millions 2024 2023 2023

3 unchanged sentences

Other current liabilities were:

June 30 December 31 June 30

September 30 December 31 September 30

in $ millions 2024 2023 2023

3 unchanged sentences

Income tax payable 148 129 196

Asset retirement obligations 74 50 65

Finance lease liability 60 31 25

Other 748 502 640

1 unchanged sentence

Other noncurrent liabilities were:

June 30 December 31 June 30

September 30 December 31 September 30

in $ millions 2024 2023 2023

1 unchanged sentence

Asset retirement obligations 325 310 352

Finance lease liability 168 86 71

Pension liability 257 254 276

4 unchanged sentences

Long-term debt was:

June 30 December 31 June 30

September 30 December 31 September 30

in $ millions Effective interest rate 2024 2023 2023

38 unchanged sentences

PHP interest bearing loan due 2027 6.05 % 407 396 400

AUD interest bearing loan due 2029 5.10 % 565 – –

Dollar Commercial Paper 5.47 % 1,295 1,002 260

6 unchanged sentences

(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.

In August 2009 and December 2010, $ 87 million of the issued Senior Notes were acquired by the Company 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 $ 27 million, $ 30 million, and $ 30 million at September 30, 2024, December 31, 2023, and September 30, 2023, respectively.

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

Of the Company’s nominal floating rate debt at September 30, 2024, December 31, 2023, and September 30, 2023, AUD 300 million, AUD nil million, and AUD nil million, respectively, was hedged to fixed rates using interest rate swaps.

(iii) Excludes borrowings from bank overdrafts of $ 153 million, $ 107 million and $ 173 million, which are recorded within Current portion of long-term debt in the Condensed Consolidated Balance Sheets at September 30, 2024, December 31, 2023, and September 30, 2023, respectively.

Senior Notes:

8 unchanged sentences

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

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

Australian (AUD) Debt:

In July 2024, the Company acquired Adbri Ltd who have committed credit agreements with a range of banks and credit institutions totaling AUD 940 million.

The Company does not provide a guarantee for these facilities.

The funds drawn from these facilities carry a combination of fixed and floating interest rates.

Philippines (PHP) Debt:

10 unchanged sentences

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

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

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).

At September 30, 2024, December 31, 2023, and September 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 September 30, 2024 were $ 3,919 million (€ 3,500 million equivalent).

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

There are no financial covenants.

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

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

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

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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 June 30, 2024 are as follows:

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

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

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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 $ 12,959 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 carrying values of the Company’s Long-term debt were $ 13,737 million, $ 11,535 million, and $ 11,222 million at September 30, 2024, December 31, 2023, and September 30, 2023, respectively.

The fair values of the Company’s Long-term debt were $ 13,599 million, $ 11,337 million, and $ 10,471 million at September 30, 2024, December 31, 2023, and September 30, 2023, respectively.

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

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The summary of the income tax expense from operations was:

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in $ millions 2024 2023 2024 2023

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Effective income tax rate 28 % 24 % 25 % 24 %

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).

The increase in the effective tax rate for this quarter in comparison to the three months ended September 30, 2023 is mainly driven by the timing of discrete items occurring throughout the year, including non-deductible acquisition-related costs in the third quarter.

The increase in the year-to-date compared to the nine months ended September 30, 2023 is mainly driven by a change in the mix of income earned in jurisdictions with a higher rate of tax and non-deductible acquisition-related costs which is partially offset by 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:

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June 30 June 30

The calculation of basic and diluted earnings per share was:

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September 30 September 30

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

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Net (income) attributable to redeemable noncontrolling interests ( 9 ) ( 9 ) ( 21 ) ( 21 )

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

Net (income) attributable to noncontrolling interests ( 4 ) ( 3 ) ( 2 ) ( 1 )

Adjustment of redeemable noncontrolling interests to redemption value ( 23 ) ( 6 ) ( 30 ) ( 18 )

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(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 4,904,276 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.

(ii) Common shares that would only be issued contingent on certain conditions totaling 3,919,037 at September 30, 2024 and 5,336,581 at September 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

Accumulated other comprehensive loss

The changes in the balances for each component of Accumulated other comprehensive loss, net of tax, were as follows:

The changes in the balances for each component of Accumulated other comprehensive loss, net of tax, were:

in $ millions Currency Translation Cash Flow

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 )

Other comprehensive income (loss) before reclassifications 363 ( 9 ) – 354

Amounts reclassified from Accumulated other comprehensive loss – 1 ( 7 ) ( 6 )

Net current-period other comprehensive income (loss) 363 ( 8 ) ( 7 ) 348

Other comprehensive (income) attributable to noncontrolling interests ( 34 ) – – ( 34 )

Balance at September 30, 2024 ( 288 ) ( 73 ) ( 138 ) ( 499 )

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

Other comprehensive income (loss) before reclassifications 205 ( 46 ) – 159

Amounts reclassified from Accumulated other comprehensive loss ( 39 ) 20 ( 8 ) ( 27 )

Net current-period other comprehensive income (loss) 166 ( 26 ) ( 8 ) 132

Other comprehensive (income) attributable to noncontrolling interests ( 15 ) – – ( 15 )

Balance at September 30, 2024 ( 288 ) ( 73 ) ( 138 ) ( 499 )

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

Other comprehensive (loss) before reclassifications ( 130 ) ( 23 ) – ( 153 )

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Other comprehensive loss attributable to noncontrolling interests 13 – – 13

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

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

Balance at September 30, 2023 ( 722 ) ( 15 ) ( 26 ) ( 763 )

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

Other comprehensive income (loss) before reclassifications 17 ( 12 ) - 5

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Other comprehensive loss attributable to noncontrolling interests 7 – – 7

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

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

Other comprehensive income before reclassifications 147 11 - 158

Amounts reclassified from Accumulated other comprehensive loss - 13 ( 3 ) 10

Net current-period other comprehensive income (loss) 147 24 ( 3 ) 168

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

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

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

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June 30 June 30

Balance at September 30, 2023 ( 722 ) ( 15 ) ( 26 ) ( 763 )

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

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in $ millions 2024 2023 2024 2023

1 unchanged sentence

Cost of product revenues 1 4 23 21

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

Income tax benefit – ( 1 ) ( 3 ) ( 5 )

Total 1 3 20 16

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Other nonoperating income, net ( 6 ) ( 1 ) ( 8 ) ( 4 )

Income tax expense - - 1 -

Income tax benefit ( 1 ) – – –

Total ( 7 ) ( 1 ) ( 8 ) ( 4 )

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Segment information

The Company has the following four reportable segments:

The Company has the following four operating and reportable segments:

Americas Materials Solutions;

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Europe Building Solutions.

The Americas Materials Solutions segment provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings in North America.

The Americas Materials Solutions segment provides solutions for the construction and maintenance of public infrastructure, commercial and residential buildings in North America.

The primary materials produced by this segment include aggregates, cement, readymixed concrete and asphalt.

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Our subsidiaries within this segment offer building and infrastructure solutions serving complex critical utility infrastructure (such as water, energy, transportation and telecommunications projects) and outdoor living solutions for enhancing private and public spaces.

The Europe Materials Solutions segment provides solutions for the construction of public infrastructure and commercial and residential buildings to customers in construction markets in Europe.

The Europe Materials Solutions segment provides solutions for the construction of public infrastructure, commercial and residential buildings to customers in construction markets primarily in Europe.

The primary materials produced in this segment include aggregates, cement, readymixed concrete, asphalt and concrete products.

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

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in $ millions 2024 2023 2024 2023

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Adjusted EBITDA

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in $ millions 2024 2023 2024 2023

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CRH Form 10-Q 20

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in $ millions 2024 2023 2024 2023

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

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in $ millions 2024 2023 2024 2023

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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

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in $ millions 2024 2023 2024 2023 2024 2023 2024 2023

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(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.

(ii) Includes net periodic benefit cost of $ 1 million and $ 1 million related to OPEB plans for the three months ended September 30, 2024 and September 30, 2023, and $ 3 million and $ 3 million for the nine months ended September 30, 2024 and September 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 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:

June 30 December 31 June 30

September 30 December 31 September 30

in $ millions 2024 2023 2023

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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:

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in $ millions 2024 2023 2024 2023

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in $ millions

Balance at March 31, 2024 326

Balance at June 30, 2024 335

Net income attributable to redeemable noncontrolling interests 9

1 unchanged sentence

Dividends paid ( 6 )

Balance at June 30, 2024 335

Balance at March 31, 2023 307

Balance at September 30, 2024 361

Balance at December 31, 2023 333

Net income attributable to redeemable noncontrolling interests 21

1 unchanged sentence

Dividends paid ( 23 )

Balance at June 30, 2023 313

Balance at September 30, 2024 361

in $ millions

Balance at December 31, 2023 333

Balance at June 30, 2023 313

Net income attributable to redeemable noncontrolling interests 9

1 unchanged sentence

Dividends paid ( 8 )

Balance at June 30, 2024 335

Balance at September 30, 2023 320

Balance at December 31, 2022 308

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Dividends paid ( 27 )

Balance at June 30, 2023 313

Balance at September 30, 2023 320

Commitments and contingencies

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

$ 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 .

$ 12.9 billion, $ 11.3 billion, and $ 11.1 billion in respect of loans and borrowings, bank advances and derivative obligations at September 30, 2024, December 31, 2023 and September 30, 2023, respectively, and $ 0.5 billion, $ 0.4 billion, and $ 0.4 billion at September 30, 2024, December 31, 2023 and September 30, 2023, respectively, in respect of letters of credit due within one year .

Legal Proceedings

The Company is not involved in any proceedings that it believes could reasonably be expected to have a material adverse effect on the Company’s financial condition, results of operations or liquidity.

Subsequent events

The Company has evaluated subsequent events occurring through to the date the Condensed Consolidated Financial Statements were issued.

Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the Condensed Consolidated Financial Statements except as noted below.

Change in Operating and Reportable Segments

During the fourth quarter of 2024, there was a change to how the CODM reviews financial information to manage the business, assess performance and allocate resources.

This resulted in a realignment of the Company's operating and reportable segments to the following three segments:

Americas Materials Solutions, Americas Building Solutions and International Solutions.

Beginning with the Form 10-K for the year ending December 31, 2024, any historical segment financial information presented will be recast to conform to the new reportable segment structure.

CRH Form 10-Q 23

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