Company: ACA
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001739445-25-000067
Chunk: 36

Company: Arcosa, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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5.5 

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The following table summarizes our operating and finance leases and their classification within the Consolidated Balance Sheet.March 31,2025December 31,2024(in millions)AssetsOperating - Other assets$61.8 $63.1 Finance - Property, plant, and equipment, net10.9 12.3 Total lease assets72.7 75.4 LiabilitiesCurrentOperating - Accrued liabilities8.5 8.6 Finance - Current portion of long-term debt4.2 5.2 Non-currentOperating - Other liabilities53.5 54.7 Finance - Debt1.3 1.9 Total lease liabilities$67.5 $70.4 

Note 9. Other, Net

Other, net (income) expense consists of the following items: Three Months EndedMarch 31, 20252024 (in millions)Interest income$(1.8)$(1.7)Foreign currency exchange transactions0.1 (0.5)Other, net (income) expense$(1.7)$(2.2)

Note 10. Income Taxes

For interim income tax reporting, we estimate our annual effective tax rate and apply it to our year-to-date ordinary income (loss). Tax jurisdictions with a projected or year to date loss for which a tax benefit cannot be realized are excluded. The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur. We have open tax years from 2019 to 2024 with various significant tax jurisdictions.Our effective tax rates of 19.2% and 17.1% for the three months ended March 31, 2025 and 2024, respectively, differed from the U.S. federal statutory rate of 21.0% due to Advanced Manufacturing Production ("AMP") tax credits, state income taxes, statutory depletion deductions, compensation-related items, and other foreign adjustments.

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Note 11. Employee Retirement Plans

Total employee retirement plan expense, which includes related administrative expenses, is as follows:Three Months EndedMarch 31,20252024(in millions)Defined contribution plans$4.4 $4.0 Multiemployer plans0.5 0.4 $4.9 $4.4 The Company contributes to various multiemployer defined benefit pension plans under the terms