Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

v3.20.2
Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
Schedule of customer concentration risk Customers that accounted for more than 10.0% of consolidated revenues during either of those periods are presented below:
% of Consolidated
Revenues
for the Fiscal
Year Ended September 30,
2020 2019
Alabama Department of Transportation 11.6  % 13.8  %
North Carolina Department of Transportation 7.8  % 13.1  %
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,
2020 2019
Public 65.3% 69.3%
Private 34.7% 30.7%
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
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, 2020 and 2019 consisted of the following (in thousands):
September 30,
2020 2019
Construction equipment $ 253,157  $ 214,500 
Plants 102,392  92,279 
Land and improvements 40,614  34,365 
Quarry reserves 20,238  20,678 
Buildings 18,307  15,458 
Furniture and fixtures 5,648  4,864 
Leasehold improvements 1,135  1,135 
Total property, plant and equipment, gross 441,491  383,279 
Accumulated depreciation, depletion and amortization (209,532) (177,927)
Construction in progress 5,271  518 
Total property, plant and equipment, net $ 237,230  $ 205,870