Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

v3.22.2.2
Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 30, 2022
Accounting Policies [Abstract]  
Schedule of customer concentration risk Customers that accounted for more than 10% of consolidated revenues during any of the fiscal years ended September 30, 2022, 2021 and 2020 are presented below:
% of Consolidated Revenues for the Fiscal
Year Ended September 30,
2022 2021 2020
Alabama Department of Transportation 10.0% 10.8% 11.6%
North Carolina Department of Transportation 11.2% 10.3% 7.8%
Schedule of revenue by major customers by reporting segments The following table reflects, for the periods presented, (i) revenues generated from public infrastructure construction projects and the sale of construction materials to public customers and (ii) revenues generated from private infrastructure construction projects and the sale of construction materials to private customers.
% of Consolidated Revenues for the Fiscal
Year Ended September 30,
2022 2021 2020
Public 60.9% 61.3% 65.3%
Private 39.1% 38.7% 34.7%
Schedule of useful lives of property, plant and equipment The estimated useful lives of property, plant and equipment categories are as follows:
Category Estimated Useful Life
Land and improvements
Land, unlimited; improvements, 15-25 years
Mineral reserves Based on depletion
Buildings
5 - 39 years
Plants
3 - 20 years
Construction equipment
3 - 10 years
Furniture and fixtures
5 - 10 years
Leasehold improvements
The shorter of 15 years or the remaining lease term
Property, plant and equipment at September 30, 2022 and 2021 consisted of the following (in thousands):
September 30,
2022 2021
Construction equipment $ 402,581  $ 333,966 
Plants 167,625  143,172 
Land and improvements 59,454  53,415 
Mineral reserves 91,992  86,556 
Buildings 32,566  27,163 
Furniture and fixtures 7,110  6,426 
Leasehold improvements 1,230  1,230 
Total property, plant and equipment, gross 762,558  651,928 
Accumulated depreciation, depletion and amortization (304,935) (250,803)
Construction in progress 23,789  3,707 
Total property, plant and equipment, net $ 481,412  $ 404,832