Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

v3.21.2
Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
Schedule of customer concentration risk Customers that accounted for more than 10% of consolidated revenues during fiscal years ended September 30, 2021, 2020 and 2019 are presented below:
% of Consolidated Revenues for the Fiscal
Year Ended September 30,
2021 2020 2019
Alabama Department of Transportation 10.8% 11.6% 13.8%
North Carolina Department of Transportation 10.3% 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,
2021 2020 2019
Public 61.3% 65.3% 69.3%
Private 38.7% 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
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, 2021 and 2020 consisted of the following (in thousands):
September 30,
2021 2020
Construction equipment $ 333,966  $ 253,157 
Plants 143,172  102,392 
Land and improvements 53,415  38,647 
Mineral reserves 86,556  22,205 
Buildings 27,163  18,307 
Furniture and fixtures 6,426  5,648 
Leasehold improvements 1,230  1,135 
Total property, plant and equipment, gross 651,928  441,491 
Accumulated depreciation, depletion and amortization (250,803) (209,532)
Construction in progress 3,707  5,271 
Total property, plant and equipment, net $ 404,832  $ 237,230