Our aggregate cash gross profit per ton increased by 5% despite an 8% volume decline.
On the commercial side, our aggregate mix adjusted sales price increased by approximately 3% in the quarter.
On a year-to-date basis, mix adjusted pricing increased by 3.5% despite a 4% decline in volume.
This is evidenced by our 7% year-to-date improvement in cash gross profit per ton.
According to Dodge, Vulcan-served states are expected to account for approximately 90% of the growth in warehouses and distribution centers over the next two years.
As we think about these current trends, it's important to keep in mind that unlike the great recession of 2008, nonresidential construction going into the pandemic was not overbuilt.
As a more recent data point, aggregate shipments in the month of October were down 5% due to one less shipping day.
We expect that our 2020 adjusted EBITDA will range between $1.285 billion to $1.315 billion.
Our adjusted EBITDA for the third quarter was $403 million.
Adjusted EBITDA margins increased by 210 basis points as compared to the prior year despite an 8% decline in total revenues.
Significant contributors to our quarterly EBITDA margin improvement were: first, the aggregates unit margin expansion that Tom discussed earlier; and second, a 6% or $5 million year-over-year reduction in SAG expense.
Our aggregates cash gross profit per ton increased by 7% to $7.15, while aggregates volume decreased by 4%.
SAG expense for the nine months declined by 5% or $14 million due to the execution of cost reduction initiatives and general cost control.
Aggregate sales price growth in the quarter of nearly 3% on a mix adjusted basis was widespread across our footprint, reflecting a positive pricing environment.
Asphalt gross profit improved by $3 million as compared to last year's quarter.
A 13% volume decline was more than offset by improved pricing and lower liquid asphalt costs.
The concrete segment's gross profit was $12 million, a reduction of $3 million versus the prior year.
Shipments decreased by 11% due to wet weather, particularly in Virginia, our largest concrete market.
For the trailing 12 months ended September 30, ROI was 14.2%.
We renewed our revolving credit facility for another five years and took the opportunity to increase its size from $750 million to $1 billion.
At the end of the quarter, our leverage ratio was 1.7 times on a net debt-to-EBITDA basis, reflecting $1.1 billion of cash on hand.
Approximately $500 million of this cash on hand will be used to repay a debt maturity coming due in March 2021.
And at September 30, our available liquidity was a very healthy $2 billion.
We also generated a robust $1.1 billion of operating cash flow in the trailing 12-month period.
That represents a 23% increase as compared to the previous period.
Capital expenditures for the nine months totaled $229 million.
And we now expect to spend between $300 million and $350 million this year, a modest increase from our prior guidance of $275 million to $325 million.
For making marked progress toward our longer-term goal of $9 cash gross profit per ton and for driving our improved results through our four strategic disciplines.

Summary:
We expect that our 2020 adjusted EBITDA will range between $1.285 billion to $1.315 billion.
Adjusted EBITDA margins increased by 210 basis points as compared to the prior year despite an 8% decline in total revenues.