Significant Accounting Policies (Tables)
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12 Months Ended |
Sep. 30, 2024 |
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| Accounting Policies [Abstract] |
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| Schedule of Cash and Cash Equivalents |
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of such amounts shown in the Consolidated Statements of Cash Flows (unaudited, in thousands):
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September 30, 2024 |
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September 30, 2023 |
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| Cash and cash equivalents |
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$ |
74,686 |
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$ |
48,243 |
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| Restricted cash |
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1,998 |
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837 |
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| Total cash, cash equivalents, and restricted cash |
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$ |
76,684 |
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$ |
49,080 |
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| Schedule of Restrictions on Cash and Cash Equivalents |
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of such amounts shown in the Consolidated Statements of Cash Flows (unaudited, in thousands):
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September 30, 2024 |
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September 30, 2023 |
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| Cash and cash equivalents |
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$ |
74,686 |
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$ |
48,243 |
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| Restricted cash |
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1,998 |
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837 |
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| Total cash, cash equivalents, and restricted cash |
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$ |
76,684 |
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$ |
49,080 |
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| Schedule of Customer Concentration Risk |
Customers that accounted for more than 10% of consolidated revenues during any of the fiscal years ended September 30, 2024, 2023 and 2022 are presented below:
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% of Consolidated Revenues for the Fiscal
Year Ended September 30, |
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2024 |
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2023 |
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2022 |
| Alabama Department of Transportation |
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* |
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* |
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10.0% |
| Florida Department of Transportation |
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13.6% |
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10.7% |
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* |
| North Carolina Department of Transportation |
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* |
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10.5% |
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11.2% |
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| 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.
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% of Consolidated Revenues for the Fiscal
Year Ended September 30, |
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2024 |
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2023 |
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2022 |
| Public |
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63.1% |
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63.0% |
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60.9% |
| Private |
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36.9% |
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37.0% |
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39.1% |
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| Schedule of Useful Lives of Property, Plant and Equipment |
The estimated useful lives of property, plant and equipment categories are as follows:
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| 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, 2024 and 2023 consisted of the following (in thousands):
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September 30, |
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2024 |
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2023 |
| Construction equipment |
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$ |
570,044 |
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$ |
447,467 |
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| Plants |
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255,214 |
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208,708 |
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| Land and improvements |
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94,182 |
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76,396 |
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| Mineral reserves |
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69,334 |
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69,405 |
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| Buildings |
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39,838 |
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36,885 |
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| Furniture and fixtures |
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8,616 |
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7,538 |
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| Leasehold improvements |
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1,268 |
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1,268 |
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| Total property, plant and equipment, gross |
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1,038,496 |
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847,667 |
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| Accumulated depreciation, depletion and amortization |
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(426,842) |
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(358,462) |
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| Construction in progress |
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18,270 |
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15,890 |
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| Total property, plant and equipment, net |
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$ |
629,924 |
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$ |
505,095 |
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