8 unchanged sentences
Remote working trends are reducing miles driven, which is having a negative impact on various revenue streams that fund roadway projects.
−Removed: Further, delays or cancellations of projects in the nonresidential and residential construction markets, which combined accounted for 62% of aggregates shipments for the six months ended June 30, 2021, could occur if companies and consumers are unable to obtain financing for construction projects or if consumer confidence continues to be eroded by economic uncertainty.
+Added: Further, delays or cancellations of projects in the nonresidential and residential construction markets, which combined accounted for 61% of aggregates shipments for the nine months ended September 30, 2021, could occur if companies and consumers are unable to obtain financing for construction projects or if consumer confidence continues to be eroded by economic uncertainty.
The Company’s operations are highly dependent upon the interest rate-sensitive construction and steelmaking industries.
Consequently, these marketplaces could experience lower levels of economic activity in an environment of rising interest rates or higher borrowing costs.
−Removed: Aside from these inherent risks from within its operations, the Company’s earnings are also affected by changes in short-term interest rates.
+Added: Aside from these inherent risks from within its operations, the Company’s earnings are also affected by changes in short-term interest rates and changes in enacted tax laws.
Variable-Rate Borrowing Facilities.
−Removed: At June 30, 2021, the Company had a $700 million Revolving Facility and a $400 million Trade Receivable Facility.
+Added: At September 30, 2021, the Company had a $700 million Revolving Facility and a $400 million Trade Receivable Facility.
Borrowings under these facilities bear interest at a variable interest rate.
−Removed: A hypothetical 100-basis-point increase in interest rates on borrowings of $240 million, which was the collective outstanding balance at June 30, 2021, would increase interest expense by $2.4 million on an annual basis.
+Added: A hypothetical 100-basis-point increase in interest rates on borrowings of $20 million, which was the collective outstanding balance at September 30, 2021, would increase interest expense by $0.2 million on an annual basis.
Pension Expense.
3 unchanged sentences
The impact of hypothetical changes in these assumptions on the Company’s annual pension expense is discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
−Removed: As of June 30, 2021, discount rates were approximately 30 basis points higher than the rate selected as of December 31, 2020, the most recent measurement date.
+Added: As of September 30, 2021, discount rates were approximately 40 basis points higher than the rate selected as of December 31, 2020, the most recent measurement date.
Unless an event requires an interim remeasurement, the Company will next remeasure its pension obligation and funded status as of December 31, 2021.
Changes in the discount rate and pension asset values will impact 2022 pension expense.
+Added: Any changes in enacted tax laws (such as the recent U.S.
+Added: tax legislation), rules or regulatory or judicial interpretations;
+Added: or any change in the pronouncements relating to accounting for income taxes could materially impact our effective tax rate, tax payments, financial condition and results of operations.
+Added: Page 50 of 54
+Added: MARTIN MARIETTA MATERIALS, INC.
+Added: AND CONSOLIDATED SUBSIDIARIES
+Added: For the Quarter Ended September 30, 2021
Energy Costs .
1 unchanged sentence
The cement operations and Magnesia Specialties business have fixed price agreements covering a majority of their 2021 coal requirements.
−Removed: Energy expense for the six months ended June 30, 2021 increased approximately 19% compared with the prior-year period, due to increased natural gas, diesel, electricity and gasoline costs in 2021;
+Added: Energy expense for the nine months ended September 30, 2021 inc reased approximately 29 % compared with the prior-year period , due to increased natural gas , diesel , electricity and gasoline costs in 202 1 ;
however , any future energy prices cannot be reliably predicted .
A hypothetical price change of 2 9 % would change full year 2021 energy expense by $ 67 million as compared with 2020 , assuming constant volumes.
−Removed: Page 48 of 52
−Removed: MARTIN MARIETTA MATERIALS, INC.
−Removed: AND CONSOLIDATED SUBSIDIARIES
−Removed: For the Quarter Ended June 30, 2021
Commodity Risk.
7 unchanged sentences
A hypothetical 10% change in cement costs in 2021 compared with 2020, assuming constant volumes, would change the ready mixed concrete product line cost of revenues by $25.5 million.
−Removed: While increases in cement pricing may negatively impact the profitability of the ready mixed concrete operations, the cement business would benefit, although the positive impact may not reflect a direct correlation to the impact on the ready mix business.
+Added: While increases in cement pricing may negatively impact the profitability of the ready mixed concrete operations, the cement business would benefit, although the positive impact may not reflect a direct correlation to the impact on the ready mixed concrete business.
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.