Vulcan Materials CO
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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FY2024 · Filed Feb 20, 2025
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Accrued Environmental Remediation Costs
NOTE 8: ACCRUED ENVIRONMENTAL REMEDIATION COSTS
Our Consolidated Balance Sheets as of December 31 include accrued environmental remediation costs (measured on an undiscounted basis) as follows:
| in millions | 2024 | 2023 |
|---|---|---|
| Continuing operations | $47.9 | $32.6 |
| Retained from former Chemicals business | 8.3 | 8.3 |
| Total accrued environmental remediation costs | $56.2 | $40.9 |
The long-term portion of the accruals noted above is included inother noncurrent liabilities in the accompanying Consolidated Balance Sheets and amounted to $42.5 million and $28.0 million at December 31, 2024 and 2023, respectively. The $14.5 million increase relates to environmental matters associated with divested operations. The short-term portion of these accruals is included in other current liabilities in the accompanying Consolidated Balance Sheets.
The accrued environmental remediation costs in continuing operations relate primarily to the former U.S. Concrete, Florida Rock, Tarmac and CalMat facilities acquired in 2021, 2007, 2000 and 1999, respectively. The balances noted above for the former Chemicals business relate to retained environmental remediation costs from the 2003 sale of the Performance Chemicals business and the 2005 sale of the Chloralkali business. Refer to Note 12 for additional discussion of contingent environmental matters.
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