Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

v3.19.3.a.u2
Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Schedule of customer concentration risk Two customers accounted for more than 10% of consolidated revenues for the fiscal years ended September 30, 2019 and 2018, as follows:
% of Consolidated
Revenues
for the Fiscal
Year Ended September 30,
2019 2018
Alabama Department of Transportation 13.8  % 15.1  %
North Carolina Department of Transportation 13.1  % 13.3  %
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,
2019 2018
Private 30.7%    28.6%   
Public 69.3%    71.4%   
Schedule of useful lives of property, plant and equipment
The useful lives of property, plant and equipment categories are as follows:
Category Estimated Useful Life
Land and improvements
Land, unlimited; improvements, 15-25 years
Quarry 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, 2019 and 2018 consisted of the following (in thousands):
September 30,
2019    2018   
Construction equipment $ 214,500    $ 190,420   
Plants 92,279    79,563   
Land and improvements 34,365    29,624   
Quarry reserves 20,678    20,908   
Buildings 15,458    12,416   
Furniture and fixtures 4,864    4,422   
Leasehold improvements 1,135    765   
Total property, plant and equipment, gross 383,279    338,118   
Accumulated depreciation, depletion and amortization (177,927)   (160,795)  
Construction in progress 518    1,369   
Total property, plant and equipment, net $ 205,870    $ 178,692