Item 1. Financial Statements

Condensed Consolidated Statements of Income (Unaudited)

(in $ millions, except share and per share data)

			Three months ended						Six months ended
			June 30						June 30
			2025			2024			2025			2024
Product revenues			7,919			7,308			13,531			12,676
Service revenues			2,287			2,346			3,431			3,511
Total revenues			10,206			9,654			16,962			16,187
Cost of product revenues			(4,083)			(3,759)			(7,909)			(7,336)
Cost of service revenues			(2,097)			(2,220)			(3,190)			(3,369)
Total cost of revenues			(6,180)			(5,979)			(11,099)			(10,705)
Gross profit			4,026			3,675			5,863			5,482
Selling, general and administrative expenses			(2,120)			(1,948)			(3,953)			(3,735)
Gain on disposal of long-lived assets			29			102			43			110
Operating income			1,935			1,829			1,953			1,857
Interest income			30			36			67			79
Interest expense			(200)			(155)			(381)			(288)
Other nonoperating (expense) income, net			(9)			23			(29)			184
Income from operations before income tax expense and income from equity method investments			1,756			1,733			1,610			1,832
Income tax expense			(425)			(430)			(367)			(411)
Income (loss) from equity method investments			1			6			(9)			2
Net income			1,332			1,309			1,234			1,423
Net (income) attributable to redeemable noncontrolling interests			(8)			(10)			(8)			(12)
Net (income) loss attributable to noncontrolling interests			(5)			(2)			(1)			2
Net income attributable to CRH			1,319			1,297			1,225			1,413
Earnings per share attributable to CRH
Basic			$1.95			$1.89			$1.79			$2.05
Diluted			$1.94			$1.88			$1.78			$2.03
Weighted average common shares outstanding
Basic			674.8			685.5			675.8			686.6
Diluted			677.7			688.8			679.9			691.1

The accompanying notes form an integral part of the Condensed Consolidated Financial Statements.

CRH Form 10-Q 3

Condensed Consolidated Statements of Comprehensive Income (Unaudited)

(in $ millions)

			Three months ended						Six months ended
			June 30						June 30
			2025			2024			2025			2024
Net income			1,332			1,309			1,234			1,423
Other comprehensive income (loss), net of tax:
Currency translation adjustment			511			(49)			749			(197)
Net change in fair value of effective portion of cash flow hedges, net of tax of $3 million and $(4) million for the three months ended June 30, 2025, and June 30, 2024, respectively; and $5 million and $2 million for the six months ended June 30, 2025, and June 30, 2024, respectively			(10)			19			(33)			(18)
Actuarial (losses) gains and prior service (costs) credits for pension and other postretirement plans, net of tax of $nil million and $nil million for the three months ended June 30, 2025, and June 30, 2024, respectively; and $1 million and $1 million for the six months ended June 30, 2025, and June 30, 2024, respectively			(9)			2			(16)			(1)
Other comprehensive income (loss)			492			(28)			700			(216)
Comprehensive income			1,824			1,281			1,934			1,207
Comprehensive (income) attributable to redeemable noncontrolling interests			(8)			(10)			(8)			(12)
Comprehensive (income) loss attributable to noncontrolling interests			(36)			10			(41)			21
Comprehensive income attributable to CRH			1,780			1,281			1,885			1,216

The accompanying notes form an integral part of the Condensed Consolidated Financial Statements.

CRH Form 10-Q 4

Condensed Consolidated Balance Sheets (Unaudited)

(in $ millions, except share data)

			June 30			December 31			June 30
			2025			2024			2024
Assets
Current assets:
Cash and cash equivalents			2,876			3,720			3,066
Restricted cash			–			39			869
Accounts receivable, net			6,490			4,820			5,893
Inventories			5,051			4,755			4,514
Assets held for sale			–			–			67
Other current assets			734			749			704
Total current assets			15,151			14,083			15,113
Property, plant and equipment, net			23,017			21,452			19,235
Equity method investments			712			737			484
Goodwill			11,673			11,061			10,251
Intangible assets, net			1,239			1,211			1,086
Operating lease right-of-use assets, net			1,295			1,274			1,279
Other noncurrent assets			897			795			657
Total assets			53,984			50,613			48,105
Liabilities, redeemable noncontrolling interests and shareholders’ equity
Current liabilities:
Accounts payable			3,303			3,207			3,363
Accrued expenses			2,266			2,248			2,272
Current portion of long-term debt			1,171			2,999			3,218
Operating lease liabilities			247			265			259
Liabilities held for sale			–			–			14
Other current liabilities			1,697			1,577			1,422
Total current liabilities			8,684			10,296			10,548
Long-term debt			14,642			10,969			9,900
Deferred income tax liabilities			3,202			3,105			2,914
Noncurrent operating lease liabilities			1,096			1,074			1,114
Other noncurrent liabilities			2,730			2,319			2,178
Total liabilities			30,354			27,763			26,654
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests			389			384			335
Shareholders’ equity
Preferred stock, €1.27 par value, 150,000 shares authorized and 50,000 shares issued and outstanding for 5% preferred stock and 872,000 shares authorized, issued and outstanding for 7% 'A' preferred stock, as of June 30, 2025, December 31, 2024, and June 30, 2024			1			1			1
Common stock, €0.32 par value, 1,250,000,000 shares authorized; 711,792,599, 718,647,277 and 725,113,896 issued and outstanding, as of June 30, 2025, December 31, 2024, and June 30, 2024 respectively			288			290			292
Treasury stock, at cost (38,589,802, 41,355,384 and 41,540,247 shares as of June 30, 2025, December 31, 2024, and June 30, 2024 respectively)			(2,028)			(2,137)			(2,143)
Additional paid-in capital			323			422			359
Accumulated other comprehensive loss			(345)			(1,005)			(813)
Retained earnings			24,106			24,036			23,030
Total shareholders’ equity attributable to CRH shareholders			22,345			21,607			20,726
Noncontrolling interests			896			859			390
Total equity			23,241			22,466			21,116
Total liabilities, redeemable noncontrolling interests and equity			53,984			50,613			48,105

The accompanying notes form an integral part of the Condensed Consolidated Financial Statements.

CRH Form 10-Q 5

Condensed Consolidated Statements of Cash Flows (Unaudited)****(in $ millions)

			Six months ended
			June 30
			2025			2024
Cash Flows from Operating Activities:
Net income			1,234			1,423
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization			1,005			821
Share-based compensation			66			63
Gains on disposals from businesses and long-lived assets, net			(12)			(248)
Deferred tax expense			5			197
Loss (income) from equity method investments			9			(2)
Pension and other postretirement benefits net periodic benefit cost			12			18
Non-cash operating lease costs			134			151
Other items, net			2			(16)
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures:
Accounts receivable, net			(1,397)			(1,371)
Inventories			(107)			(175)
Accounts payable			(58)			232
Operating lease liabilities			(153)			(151)
Other assets			(250)			(107)
Other liabilities			249			(39)
Pension and other postretirement benefits contributions			(20)			(23)
Net cash provided by operating activities			719			773
Cash Flows from Investing Activities:
Purchases of property, plant and equipment			(1,300)			(1,130)
Acquisitions, net of cash acquired			(648)			(2,522)
Proceeds from divestitures			37			978
Proceeds from disposal of long-lived assets			65			118
Dividends received from equity method investments			13			15
Settlements of derivatives			(33)			(3)
Deferred divestiture consideration received			38			55
Other investing activities, net			33			(128)
Net cash used in investing activities			(1,795)			(2,617)

CRH Form 10-Q 6

Condensed Consolidated Statements of Cash Flows (Unaudited)****(in $ millions)

			Six months ended
			June 30
			2025			2024
Cash Flows from Financing Activities:
Proceeds from debt issuances			4,542			3,370
Payments on debt			(3,352)			(1,691)
Settlements of derivatives			77			(3)
Payments of finance lease obligations			(46)			(21)
Deferred and contingent acquisition consideration paid			(13)			(10)
Dividends paid			(500)			(1,231)
Distributions to noncontrolling and redeemable noncontrolling interests			(22)			(22)
Transactions involving noncontrolling interests			2			–
Repurchases of common stock			(644)			(907)
Amounts related to employee share plans			(56)			–
Net cash used in financing activities			(12)			(515)
Effect of exchange rate changes on cash and cash equivalents, including restricted cash			205			(85)
Decrease in cash and cash equivalents, including restricted cash			(883)			(2,444)
Cash and cash equivalents and restricted cash at the beginning of period			3,759			6,390
Cash and cash equivalents and restricted cash at the end of period			2,876			3,946
Supplemental cash flow information:
Cash paid for interest (including finance leases)			251			216
Cash paid for income taxes			304			304
Reconciliation of cash and cash equivalents and restricted cash
Cash and cash equivalents presented in the Condensed Consolidated Balance Sheets			2,876			3,066
Cash and cash equivalents included in Assets held for sale			–			11
Restricted cash presented in the Condensed Consolidated Balance Sheets			–			869
Total cash and cash equivalents and restricted cash presented in the Condensed Consolidated Statements of Cash Flows			2,876			3,946

The accompanying notes form an integral part of the Condensed Consolidated Financial Statements.

CRH Form 10-Q 7

Condensed Consolidated Statements of Changes in Equity (Unaudited)

(in $ millions, except share and per share data)

			Preferred stock						Common stock						Treasury stock						Additional Paid-in Capital			Accumulated Other Comprehensive Loss			Retained Earnings			Total Shareholders' Equity Attributable to CRH Shareholders			Noncontrolling Interests			Total Equity
			Shares			Amount			Shares			Amount			Shares			Amount
Balance at March 31, 2025			0.9			$1			715.4			$289			(38.9)			($2,038)			$298			($806)			$23,375			$21,119			$859			$21,978
Net income			–			–			–			–			–			–			–			–			1,319			1,319			5			1,324
Other comprehensive income			–			–			–			–			–			–			–			461			–			461			31			492
Share-based compensation			–			–			–			–			–			–			34			–			–			34			–			34
Repurchases and retirement of common stock			–			–			(3.7)			(1)			–			–			–			–			(333)			(334)			–			(334)
Shares issued under employee share plans			–			–			–			–			0.3			10			(9)			–			–			1			–			1
Dividends declared on common stock			–			–			–			–			–			–			–			–			(249)			(249)			–			(249)
Distributions to noncontrolling interests			–			–			–			–			–			–			–			–			–			–			(1)			(1)
Transactions involving noncontrolling interests			–			–			–			–			–			–			–			–			–			–			2			2
Adjustment of redeemable noncontrolling interests to redemption value			–			–			–			–			–			–			–			–			(6)			(6)			–			(6)
Balance at June 30, 2025			0.9			$1			711.7			$288			(38.6)			($2,028)			$323			($345)			$24,106			$22,345			$896			$23,241

For the three months ended June 30, 2025, dividends declared on Common stock were $0.37 per common share.

			Preferred stock						Common stock						Treasury stock						Additional Paid-in Capital			Accumulated Other Comprehensive Loss			Retained Earnings			Total Shareholders' Equity Attributable to CRH Shareholders			Noncontrolling Interests			Total Equity
			Shares			Amount			Shares			Amount			Shares			Amount
Balance at December 31, 2024			0.9			$1			718.6			$290			(41.4)			($2,137)			$422			($1,005)			$24,036			$21,607			$859			$22,466
Net income			–			–			–			–			–			–			–			–			1,225			1,225			1			1,226
Other comprehensive income			–			–			–			–			–			–			–			660			–			660			40			700
Share-based compensation			–			–			–			–			–			–			66			–			–			66			–			66
Repurchases and retirement of common stock			–			–			(6.9)			(2)			–			–			–			–			(642)			(644)			–			(644)
Shares issued under employee share plans			–			–			–			–			2.8			109			(165)			–			–			(56)			–			(56)
Dividends declared on common stock			–			–			–			–			–			–			–			–			(500)			(500)			–			(500)
Distributions to noncontrolling interests			–			–			–			–			–			–			–			–			–			–			(6)			(6)
Transactions involving noncontrolling interests			–			–			–			–			–			–			–			–			–			–			2			2
Adjustment of redeemable noncontrolling interests to redemption value			–			–			–			–			–			–			–			–			(13)			(13)			–			(13)
Balance at June 30, 2025			0.9			$1			711.7			$288			(38.6)			($2,028)			$323			($345)			$24,106			$22,345			$896			$23,241

For the six months ended June 30, 2025, dividends declared on Common stock were $0.74 per common share.

CRH Form 10-Q 8

Condensed Consolidated Statements of Changes in Equity (Unaudited)

(in $ millions, except share and per share data)

			Preferred stock						Common stock						Treasury stock						Additional Paid-in Capital			Accumulated Other Comprehensive Loss			Retained Earnings			Total Shareholders' Equity Attributable to CRH Shareholders			Noncontrolling Interests			Total Equity
			Shares			Amount			Shares			Amount			Shares			Amount
Balance at March 31, 2024			0.9			$1			729.5			$294			(41.9)			($2,166)			$337			($797)			$22,346			$20,015			$401			$20,416
Net income			–			–			–			–			–			–			–			–			1,297			1,297			2			1,299
Other comprehensive loss			–			–			–			–			–			–			–			(16)			–			(16)			(12)			(28)
Share-based compensation			–			–			–			–			–			–			33			–			–			33			–			33
Repurchases and retirement of common stock			–			–			(4.4)			(2)			–			–			–			–			(346)			(348)			–			(348)
Shares issued under employee share plans			–			–			–			–			0.4			23			(11)			–			(24)			(12)			–			(12)
Dividends declared on common stock			–			–			–			–			–			–			–			–			(240)			(240)			–			(240)
Distributions to noncontrolling interests			–			–			–			–			–			–			–			–			–			–			(1)			(1)
Adjustment of redeemable noncontrolling interests to redemption value			–			–			–			–			–			–			–			–			(3)			(3)			–			(3)
Balance at June 30, 2024			0.9			$1			725.1			$292			(41.5)			($2,143)			$359			($813)			$23,030			$20,726			$390			$21,116

For the three months ended June 30, 2024, dividends declared on common stock were $0.35 per common share.

			Preferred stock						Common stock						Treasury stock						Additional Paid-in Capital			Accumulated Other Comprehensive Loss			Retained Earnings			Total Shareholders' Equity Attributable to CRH Shareholders			Noncontrolling Interests			Total Equity
			Shares			Amount			Shares			Amount			Shares			Amount
Balance at December 31, 2023			0.9			$1			734.5			$296			(42.4)			($2,199)			$454			($616)			$22,918			$20,854			$434			$21,288
Net income (loss)			–			–			–			–			–			–			–			–			1,413			1,413			(2)			1,411
Other comprehensive loss			–			–			–			–			–			–			–			(197)			–			(197)			(19)			(216)
Share-based compensation			–			–			–			–			–			–			63			–			–			63			–			63
Repurchases of common stock			–			–			–			–			(2.6)			(179)			–			–			–			(179)			–			(179)
Repurchases and retirement of common stock			–			–			(9.4)			(4)			–			–			–			–			(724)			(728)			–			(728)
Shares issued under employee share plans			–			–			–			–			3.5			235			(158)			–			(89)			(12)			–			(12)
Dividends declared on common stock			–			–			–			–			–			–			–			–			(481)			(481)			–			(481)
Distributions to noncontrolling interests			–			–			–			–			–			–			–			–			–			–			(5)			(5)
Divestiture of noncontrolling interests			–			–			–			–			–			–			–			–			–			–			(18)			(18)
Adjustment of redeemable noncontrolling interests to redemption value			–			–			–			–			–			–			–			–			(7)			(7)			–			(7)
Balance at June 30, 2024			0.9			$1			725.1			$292			(41.5)			($2,143)			$359			($813)			$23,030			$20,726			$390			$21,116

For the six months ended June 30, 2024, dividends declared on Common stock were $0.70 per common share.

The accompanying notes form an integral part of the Condensed Consolidated Financial Statements.

CRH Form 10-Q 9

Notes to Condensed Consolidated Financial Statements (Unaudited)

1. Summary of significant accounting policies

1.1. Description of business

CRH operates in the building materials industry, providing essential materials and services for construction projects across its Americas and International footprint. The Company is a major producer of aggregates, cement, readymixed concrete, asphalt, precast concrete and outdoor living products and is a supplier of paving and construction services, providing solutions to a wide range of customers, including Federal and local authorities, general contractors, and the commercial and residential markets. CRH is one of the largest suppliers of building materials globally.

1.2. Basis of presentation and use of estimates

The accompanying unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and with the instructions to the Quarterly Report on Form 10-Q and in Article 10 of Regulation S-X. The Company has continued to follow the accounting policies set forth in the audited Consolidated Financial Statements and related notes thereto included in the Company’s 2024 Form 10-K. In the opinion of our management, these statements reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of our results of operations and financial condition for the periods and at the dates presented. Operating results for the three and six months ended June 30, 2025 are not necessarily indicative of the results that may be expected for the year ending December 31, 2025. The Condensed Consolidated Balance Sheet at December 31, 2024 has been derived from the audited Consolidated Financial Statements at that date but does not include all of the information and notes required by U.S. GAAP for complete financial statements. These Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in the Company’s 2024 Form 10-K.

The preparation of the Company's Condensed Consolidated Financial Statements requires management to make certain estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities and reported amounts of revenues and expenses. Such estimates include impairment of long-lived assets, impairment of goodwill, pension and other postretirement benefits, tax matters and litigation, including insurance and environmental compliance costs. These estimates and assumptions are based on management’s judgment.

Estimates and underlying assumptions are reviewed on an ongoing basis. Changes in accounting estimates may be necessary if there are changes in the circumstances or experiences on which the estimate was based or as a result of new information.

Changes in estimates, including those resulting from changes in the economic environment, are reflected in the period in which the change in estimate occurs.

Certain amounts in the prior period have been reclassified to conform with the current period presentation in the Condensed Consolidated Statements of Cash Flows. These reclassifications had no effect on the previously reported net cash provided by (used in) operating, investing, or financing activities, or in the Condensed Consolidated Balance Sheets or Condensed Consolidated Statements of Income.

1.3. Cash and cash equivalents and restricted cash

The Company had restricted cash of $6 million at June 30, 2025, December 31, 2024, and June 30, 2024, respectively, included within Cash and cash equivalents in the Condensed Consolidated Balance Sheets. The Company is restricted from utilizing the cash for purposes other than with government approval as it is linked to the awarding of government licenses for quarrying.

Restricted cash of $39 million and $869 million as separately presented in the Condensed Consolidated Balance Sheets at December 31, 2024, and June 30, 2024, respectively, consists of amounts held in escrow which at December 31, 2024 were primarily designated for exchange of assets under Section 1031 of the U.S. Internal Revenue Code of 1986, as amended and at June 30, 2024 were primarily related to amounts payable for the acquisition of Adbri Ltd (Adbri).

1.4. New accounting standards

Refer to Note 1.25 in the 2024 Form 10-K for impacts of new accounting standards. There were no material impacts from the adoption of new accounting standards for the six months ended June 30, 2025.

CRH Form 10-Q 10

2. Revenue

The Company disaggregates revenue based on its operating and reportable segments. The Company’s operating and reportable segments are: (1) Americas Materials Solutions, (2) Americas Building Solutions and (3) International Solutions.

Revenue is disaggregated by principal activities and products and by primary geographic market. Business lines are reviewed and evaluated as follows: (1) Essential Materials, (2) Road Solutions, (3) Building & Infrastructure Solutions and (4) Outdoor Living Solutions.

The vertically integrated Essential Materials businesses manufacture and supply aggregates and cement for use in a range of construction and industrial applications.

Road Solutions support the manufacturing, installation and maintenance of public highway infrastructure projects and commercial infrastructure.

Building & Infrastructure Solutions connect, protect and transport critical water, energy and telecommunications infrastructure and deliver complex commercial building projects.

Outdoor Living Solutions integrate specialized materials, products and design features to enhance the quality of private and public spaces.

			Three months ended June 30, 2025
in $ millions			Americas Materials Solutions			Americas Building Solutions			International Solutions			Total
Principal activities and products
Essential Materials			1,365			–			1,376			2,741
Road Solutions (i)			3,144			–			1,392			4,536
Building & Infrastructure Solutions (ii)			–			697			585			1,282
Outdoor Living Solutions			–			1,462			185			1,647
Total revenues			4,509			2,159			3,538			10,206
			Three months ended June 30, 2024
in $ millions			Americas Materials Solutions			Americas Building Solutions			International Solutions			Total
Principal activities and products
Essential Materials			1,312			–			1,207			2,519
Road Solutions (i)			3,094			–			1,197			4,291
Building & Infrastructure Solutions (ii)			–			680			528			1,208
Outdoor Living Solutions			–			1,436			200			1,636
Total revenues			4,406			2,116			3,132			9,654

			Six months ended June 30, 2025
in $ millions			Americas Materials Solutions			Americas Building Solutions			International Solutions			Total
Principal activities and products
Essential Materials			2,241			–			2,438			4,679
Road Solutions (i)			4,511			–			2,527			7,038
Building & Infrastructure Solutions (ii)			–			1,265			1,091			2,356
Outdoor Living Solutions			–			2,576			313			2,889
Total revenues			6,752			3,841			6,369			16,962
			Six months ended June 30, 2024
in $ millions			Americas Materials Solutions			Americas Building Solutions			International Solutions			Total
Principal activities and products
Essential Materials			2,215			–			2,197			4,412
Road Solutions (i)			4,393			–			2,220			6,613
Building & Infrastructure Solutions (ii)			–			1,228			1,021			2,249
Outdoor Living Solutions			–			2,581			332			2,913
Total revenues			6,608			3,809			5,770			16,187

CRH Form 10-Q 11

(i) Revenue from contracts with customers in the Road Solutions principal activities and products category that is recognized over time was:

			Three months ended						Six months ended
			June 30						June 30
in $ millions			2025			2024			2025			2024
Americas Materials Solutions			1,709			1,736			2,347			2,332
International Solutions			448			453			843			867
Total revenue from contracts with customers			2,157			2,189			3,190			3,199

(ii) Revenue from contracts with customers in the Building & Infrastructure Solutions principal activities and products category that is recognized over time was:

			Three months ended						Six months ended
			June 30						June 30
in $ millions			2025			2024			2025			2024
Americas Building Solutions			14			26			28			49
International Solutions			116			131			213			263
Total revenue from contracts with customers			130			157			241			312

Contract assets were $834 million, $690 million and $887 million and contract liabilities were $396 million, $500 million and $448 million, at June 30, 2025, December 31, 2024, and June 30, 2024, respectively. The Company recognized revenue of $334 million and $339 million for the six months ended June 30, 2025, and June 30, 2024, respectively, which was previously included in the contract liability balance at December 31, 2024, and December 31, 2023, respectively.

Contract assets include unbilled revenue and retentions held by customers in respect of construction contracts at June 30, 2025, December 31, 2024, and June 30, 2024 amounting to $618 million and $216 million, $450 million and $240 million, and $664 million and $223 million, respectively. Unbilled revenue represents the estimated value of unbilled work for projects with performance obligations recognized over time. Retentions represent amounts that have been billed to customers but payment is withheld until final acceptance of the performance obligation by the customer. Retentions that have been billed, but are not due until completion of performance and acceptance by customers, are generally expected to be collected within one year. The Company applies the practical expedient and does not adjust any of its transaction prices for the time value of money.

On June 30, 2025, the Company had $4,046 million of transaction price allocated to remaining performance obligations. The majority of open contracts at June 30, 2025 are expected to close and revenue to be recognized within 12 months of the balance sheet date.

CRH Form 10-Q 12

3. Acquisitions

The Company strategically acquires companies in order to increase its footprint and offer products and services that enhance its existing offerings. These acquisitions are accounted for as business combinations using the acquisition method, whereby the purchase price is allocated to the assets acquired and liabilities assumed, based on their estimated fair values at the date of the acquisition with the remaining amount recorded in Goodwill.

During the six months ended June 30, 2025, the Company completed the acquisition of 13 companies. The total cash consideration for these acquisitions, net of cash acquired, was $648 million. The estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition dates. The Company expects to finalize the valuation and complete the purchase price allocations as soon as practical but no later than one year from the acquisition dates.

The provisional amounts for assets acquired, liabilities assumed, and consideration related to the acquisitions at June 30, 2025, including adjustments to provisional fair values in respect of acquisitions completed in the previous twelve months, were:

in $ millions			Total (i)
Identifiable assets acquired and liabilities assumed
Assets
Cash and cash equivalents			6
Accounts receivable, net			46
Inventories			26
Other current assets			5
Property, plant and equipment, net			274
Equity method investments			(48)
Intangible assets, net			37
Operating lease right-of-use assets, net			19
Total assets			365
Liabilities
Accounts payable			31
Accrued expenses			2
Operating lease liabilities			20
Deferred income tax liabilities			(9)
Other liabilities			34
Total liabilities			78
Total identifiable net assets at fair value			287
Goodwill			371
Total consideration			658
Consideration satisfied by:
Cash payments			654
Deferred consideration (stated at net present cost)			4
Total consideration			658
Acquisitions of businesses, net of cash acquired
Cash consideration			654
Less: cash and cash equivalents acquired			(6)
Total outflow in the Condensed Consolidated Statements of Cash Flows			648

(i) Acquisitions are aggregated on the basis of individual immateriality. The acquisition balance sheet presented in this note reflects the identifiable net assets acquired in respect of acquisitions completed in the six months to 30 June 2025, together with adjustments to provisional fair values in respect of acquisitions completed during the previous twelve months; none of which were material.

As a result of the acquisitions completed through June 30, 2025, including adjustments to provisional values, the Company recognized $37 million of amortizable intangible assets and $371 million of goodwill. Goodwill represents the excess of the consideration paid over the fair value of net assets acquired and includes the expected benefit of cost savings and synergies within the Company’s segments and intangible assets that do not qualify for separate recognition. Of the goodwill recognized in respect of the acquisitions completed in the six months ended June 30, 2025, $324 million is expected to be deductible for tax purposes. The amortizable intangible assets will be amortized against earnings over a weighted average of five years.

On July 29, 2025, the Company announced that it had entered into a binding agreement to acquire Eco Material Technologies (‘Eco Material’), a leading supplier of Supplementary Cementitious Materials in North America, headquartered in Utah, for a total consideration of $2.1 billion. The acquisition is expected to close in 2025, subject to regulatory approval and customary closing conditions.

CRH Form 10-Q 13

Acquisition-related costs

Acquisition-related costs have been included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Income. These costs include legal and consulting expenses incurred in connection with completed acquisitions. The Company incurred the following acquisition-related costs:

			Three months ended						Six months ended
			June 30						June 30
in $ millions			2025			2024			2025			2024
Acquisition-related costs
Substantial acquisition-related (i)			–			2			–			22
Other acquisitions			10			2			15			2
Total acquisition-related costs			10			4			15			24

(i) Represents expenses associated with the non-routine substantial acquisition of a portfolio of cement and readymixed concrete operations and assets in Texas, during the first quarter of 2024.

For the period from acquisition date through June 30, 2025, and June 30, 2024, respectively, acquisitions contributed $134 million and $179 million to Total revenues and a loss of $8 million and $17 million to Net income attributable to CRH, excluding substantial acquisition-related costs that arose in that period and including the effect of interest expense to finance the acquisitions, respectively.

Pro forma results of operations for the current year acquisitions, as if they were combined as of January 1, 2024, have not been presented because they are not material to the Condensed Consolidated Financial Statements.

4. Accounts receivable, net

Accounts receivable, net, were:

			June 30			December 31			June 30
in $ millions			2025			2024			2024
Trade receivables			5,326			3,829			4,788
Construction contract assets			834			690			887
Total accounts receivable			6,160			4,519			5,675
Less: allowance for credit losses			(151)			(140)			(142)
Other current receivables			481			441			360
Total accounts receivable, net			6,490			4,820			5,893

Of the total Accounts receivable, net balances, $62 million, $46 million and $34 million at June 30, 2025, December 31, 2024, and June 30, 2024, respectively, were due from equity method investments.

The changes in the allowance for credit losses were:

in $ millions			2025						2024
At January 1			140						149
Charge-offs			(7)						(5)
Provision for credit losses			2						–
Foreign currency translation and other			16						(2)
At June 30			151						142

5. Inventories

Inventories were:

			June 30			December 31			June 30
in $ millions			2025			2024			2024
Raw materials			2,434			2,074			2,158
Work-in-process			270			267			200
Finished goods			2,347			2,414			2,156
Total inventories			5,051			4,755			4,514

CRH Form 10-Q 14

6. Goodwill

The changes in the carrying amount of goodwill were:

in $ millions			Americas Materials Solutions			Americas Building Solutions			International Solutions			Total
Carrying value, December 31, 2024			5,803			3,070			2,188			11,061
Acquisitions			182			142			47			371
Foreign currency translation adjustment			23			11			210			244
Divestitures			–			–			(3)			(3)
Carrying value, June 30, 2025			6,008			3,223			2,442			11,673
in $ millions			Americas Materials Solutions			Americas Building Solutions			International Solutions			Total
Carrying value, December 31, 2023			4,417			2,752			1,989			9,158
Acquisitions			1,426			333			385			2,144
Foreign currency translation adjustment			(40)			(12)			(114)			(166)
Impairment charge for the period			–			–			(72)			(72)
Divestitures			–			(3)			(201)			(204)
Reclassified as held for sale			–			–			201			201
Carrying value, December 31, 2024			5,803			3,070			2,188			11,061
in $ millions			Americas Materials Solutions			Americas Building Solutions			International Solutions			Total
Carrying value, December 31, 2023			4,417			2,752			1,989			9,158
Acquisitions			1,120			57			(6)			1,171
Foreign currency translation adjustment			(17)			(6)			(57)			(80)
Divestitures			–			–			(197)			(197)
Reclassified from held for sale			–			–			199			199
Carrying value, June 30, 2024			5,520			2,803			1,928			10,251

There were no charges for goodwill impairment in the six months ended June 30, 2025, and June 30, 2024.

CRH Form 10-Q 15

7. Additional financial information

Other current assets were:

			June 30			December 31			June 30
in $ millions			2025			2024			2024
Prepayments			451			303			343
Income tax recoverable			214			216			140
Other			69			230			221
Total other current assets			734			749			704

Accrued expenses were:

			June 30			December 31			June 30
in $ millions			2025			2024			2024
Accrued payroll and employee benefits			962			1,062			966
Other accruals			1,304			1,186			1,306
Total accrued expenses			2,266			2,248			2,272

Other current liabilities were:

			June 30			December 31			June 30
in $ millions			2025			2024			2024
Construction contract liabilities			396			500			448
Insurance liability			184			185			162
Income tax payable			58			97			26
Other			1,059			795			786
Total other current liabilities			1,697			1,577			1,422

Other noncurrent liabilities were:

			June 30			December 31			June 30
in $ millions			2025			2024			2024
Income tax payable			873			726			712
Asset retirement obligations			348			319			290
Pension liability			238			223			250
Insurance liability			297			269			259
Other			974			782			667
Total other noncurrent liabilities			2,730			2,319			2,178

CRH Form 10-Q 16

8. Debt

Long-term debt was:

						June 30			December 31			June 30
in $ millions			Effective interest rate			2025			2024			2024
Long-term debt
(U.S. Dollar denominated unless otherwise noted)
3.875% Senior Notes due 2025			3.93		%	–			1,250			1,250
1.250% euro Senior Notes due 2026			1.25		%	879			780			802
3.400% Senior Notes due 2027			3.49		%	600			600			600
4.000% euro Senior Notes due 2027			4.13		%	586			520			535
3.950% Senior Notes due 2028			4.07		%	900			900			900
1.375% euro Senior Notes due 2028			1.42		%	703			624			642
5.200% Senior Notes due 2029			5.30		%	750			750			750
4.125% Sterling Senior Notes due 2029			4.22		%	548			501			506
5.125% Senior Notes due 2030			5.25		%	1,250			–			–
1.625% euro Senior Notes due 2030			1.72		%	879			780			802
4.000% euro Senior Notes due 2031			4.10		%	879			780			802
6.400% Senior Notes due 2033 (i)			6.43		%	213			213			213
5.400% Senior Notes due 2034			5.52		%	750			750			750
5.500% Senior Notes due 2035			5.57		%	1,250			–			–
4.250% euro Senior Notes due 2035			4.38		%	879			780			802
5.125% Senior Notes due 2045			5.25		%	500			500			500
4.400% Senior Notes due 2047			4.44		%	400			400			400
4.500% Senior Notes due 2048			4.63		%	600			600			600
5.875% Senior Notes due 2055			5.97		%	500			–			–
USD interest bearing loan due 2026			4.96		%	750			750			–
PHP interest bearing loan due 2027			5.89		%	410			379			386
AUD interest bearing loan due 2029			4.66		%	483			478			–
U.S. Dollar Commercial Paper			4.76		%	1,002			1,189			1,260
Euro Commercial Paper			–			–			347			498
Other						78			48			33
Unamortized discounts and debt issuance costs						(83)			(68)			(72)
Total long-term debt (ii)						15,706			13,851			12,959
Less: current portion of long-term debt (iii)						(1,064)			(2,882)			(3,059)
Long-term debt						14,642			10,969			9,900

(i) The $300 million 6.400% Senior Notes were issued in September 2003, and at the time of issuance the Senior Notes were partially swapped to floating interest rates. In August 2009 and December 2010, $87 million of the issued Senior Notes were acquired by the Company as part of liability management exercises undertaken and the interest rate hedge was closed out. The remaining fair value hedge adjustment on the hedged item in the Condensed Consolidated Balance Sheets was $25 million, $27 million, and $28 million at June 30, 2025, December 31, 2024, and June 30, 2024, respectively.

(ii) Of the Company’s nominal fixed rate debt at June 30, 2025, December 31, 2024, and June 30, 2024, $500 million, $1,375 million and $1,375 million, respectively, was hedged to daily compounded Secured Overnight Financing Rate (SOFR) using interest rate swaps. Of the Company’s nominal floating rate debt at June 30, 2025, December 31, 2024, and June 30, 2024, $nil million, $140 million, and $nil million, respectively, was hedged to fixed rates using interest rate swaps.

(iii) Excludes borrowings from bank overdrafts of $107 million, $117 million and $159 million, which are recorded within Current portion of long-term debt in the Condensed Consolidated Balance Sheets at June 30, 2025, December 31, 2024, and June 30, 2024, respectively.

Senior Notes:

The Senior Notes are issued by wholly-owned subsidiaries of the Company and carry full and unconditional guarantees from the Company, as defined in the indentures that govern them. These Senior Notes represent senior unsecured obligations of the Company and hold an equal standing in payment priority with the Company's existing and future senior unsubordinated indebtedness.

With the exception of the 6.400% Senior Notes due 2033, all other Senior Notes can be redeemed before their respective par call dates, at a make-whole redemption price. Post par call dates and before the respective maturity dates, the Senior Notes can be redeemed at a price equal to 100% of the principal amount, along with any accrued and unpaid interest.

In the event of a change-of-control repurchase event, the Company is obligated to offer repurchase options for the 3.400% Senior Notes due 2027, 3.950% Senior Notes due 2028, 5.200% Senior Notes due 2029, 5.125% Senior Notes due 2030, 5.400% Senior Notes due 2034, 5.500% Senior Notes due 2035, 5.125% Senior Notes due 2045, 4.400% Senior Notes due 2047, 4.500% Senior Notes due 2048 and 5.875% Senior Notes due 2055. This repurchase involves a cash payment equal to 101% of the principal amount, along with any accrued and unpaid interest.

CRH Form 10-Q 17

If the Company's credit rating falls below investment-grade, the Company would be required to make an additional coupon step-up payment on the 5.125% Senior Notes due 2045. The increase is 25 basis points per rating notch per agency, capped at 100 basis points per agency. However, this coupon step-up would reverse if the Company returns to an investment-grade rating.

In May 2025, $1.25 billion 3.875% Senior Notes due 2025 were repaid on maturity.

Bank Debt:

The Company maintains a multi-currency Revolving Credit Facility (the 'RCF') with a syndicate of lenders. The RCF offers a senior unsecured revolving credit facility of €3,500 million over five years, maturing May 11, 2030. Borrowings under the RCF bear interest at rates based upon an underlying base rate, plus a margin determined in accordance with a ratings-based pricing grid. Base rates include SOFR for U.S. Dollar, Euro Interbank Offer Rate (EURIBOR) for euros, Sterling Overnight Index Average (SONIA) for Sterling, and Swiss Average Rate Overnight (SARON) for Swiss Francs, respectively. A commitment fee is payable on a quarterly basis based on a percentage of the applicable margin and calculated on the daily undrawn amount of the facility.

The deferred financing costs associated with the RCF were $6 million at June 30, 2025. The total potential credit available through this arrangement is €3,500 million, inclusive of the ability to issue letters of credit.

At June 30, 2025, December 31, 2024, and June 30, 2024, there were no outstanding borrowings or letters of credit issued under the RCF and the undrawn committed facilities available to be drawn by the Company at June 30, 2025 were $4,104 million (€3,500 million equivalent).

The RCF includes customary terms and conditions for investment-grade borrowers. There are no financial covenants.

In December 2024, the Company entered into a new $750 million two-year fixed rate term loan facility which was fully drawn.

Philippines (PHP) Debt:

In March 2017, the Company's subsidiary, Republic Cement & Building Materials, Inc., entered into a credit arrangement with the Bank of the Philippine Islands. The Company does not provide a guarantee for this facility. The initial credit agreement provided for total commitments of PHP12.5 billion for a 10-year term, which was later expanded to PHP22.5 billion. The funds drawn from this facility carry a combination of fixed and floating interest rates.

Australian (AUD) Debt:

In July 2024, the Company acquired Adbri which has committed credit agreements with a range of banks and credit institutions totaling AUD940 million. The Company does not provide a guarantee for these facilities. The funds drawn from these facilities carry a combination of fixed and floating interest rates.

Commercial Paper:

At June 30, 2025, the Company had a $4,000 million U.S. Dollar Commercial Paper Program and a €1,500 million Euro Commercial Paper Program. The purpose of these programs is to provide short-term liquidity as required. The Company’s RCF supports the commercial paper programs with a separate €750 million swingline sublimit which allows for same-day drawing in either euro or U.S. Dollar. Commercial paper borrowings may vary during the period, largely as a result of fluctuations in funding requirements.

The long-term debt maturities, net of the unamortized discounts and debt issuance costs, for the periods subsequent to June 30, 2025 are as follows:

in $ millions			Remainder of 2025			2026			2027			2028			2029			2030 and thereafter			Total
Long-term debt maturities			1,064			2,939			1,478			1,457			2,744			6,024			15,706

9. Fair value measurement

Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and is measured using inputs in one of the following three categories:

Level 1 measurements are based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation of these items does not entail a significant amount of judgment.

Level 2 measurements are based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active or market data other than quoted prices that are observable for the assets or liabilities.

Level 3 measurements are based on unobservable data that are supported by little or no market activity and are significant to the fair value of the assets or liabilities.

Considerable judgment may be required in interpreting market data used to develop the estimates of fair value.

The carrying values of the Company’s Long-term debt were $15,706 million, $13,851 million, and $12,959 million at June 30, 2025, December 31, 2024, and June 30, 2024, respectively. The fair values of the Company’s Long-term debt were $15,587 million, $13,604 million, and $12,520 million at June 30, 2025, December 31, 2024, and June 30, 2024, respectively. The Company’s Long-term debt obligations are Level 2 instruments whose fair value is derived from quoted market prices.

The Redeemable noncontrolling interests included in the Condensed Consolidated Balance Sheets are marked to fair value on a recurring basis using Level 3 inputs. The redemption value of Redeemable noncontrolling interests approximates the fair value and is based on a range of estimated potential outcomes of the expected payment amounts primarily dependent on underlying performance metrics. The unobservable inputs in the valuation include a discount rate determined using a Capital Asset Pricing Model methodology with ranges of between 6.51% and 7.55%.

See Note 16 for the changes in the fair value of Redeemable noncontrolling interests.

The carrying values of the Company’s Cash and cash equivalents, Restricted cash, Accounts receivable, net, Current portion of long-term debt, Accounts payable, Accrued expenses, and Other current liabilities approximate their fair values because of the short-term nature of these instruments.

CRH Form 10-Q 18

10. Income taxes

The Company’s tax provision for the interim period is calculated using an estimated annual effective tax rate based on the expected full-year results which is applied to ordinary year-to-date income or loss. The tax provision is adjusted for discrete items that occur in the applicable interim period to arrive at the effective income tax rate.

The summary of the income tax expense from operations was:

			Three months ended						Six months ended
			June 30						June 30
in $ millions			2025			2024			2025			2024
Total tax expense			425			430			367			411
Effective income tax rate			24%			25%			23%			22%

The decrease in the effective tax rate for the three months ended June 30, 2025 is mainly driven by movements in valuation allowances. The increase in the effective tax rate for the six months ended June 30, 2025 is primarily driven by the inclusion of the largely tax-exempt divestiture of phases one and two of the European Lime operations in the six months ended June 30, 2024.

11. Earnings per share (EPS)

The calculation of basic and diluted earnings per share was:

						Three months ended						Six months ended
						June 30						June 30
in $ millions, except share and per share data									2025			2024			2025			2024
Numerator
Net income									1,332			1,309			1,234			1,423
Net (income) attributable to redeemable noncontrolling interests									(8)			(10)			(8)			(12)
Net (income) loss attributable to noncontrolling interests									(5)			(2)			(1)			2
Adjustment of redeemable noncontrolling interests to redemption value									(6)			(3)			(13)			(7)
Net income attributable to CRH for EPS - basic and diluted									1,313			1,294			1,212			1,406
Denominator
Weighted average common shares outstanding - basic (i)									674.8			685.5			675.8			686.6
Effect of dilutive employee share awards (ii)									2.9			3.3			4.1			4.5
Weighted average common shares outstanding - diluted									677.7			688.8			679.9			691.1
Earnings per share attributable to CRH
Basic									$1.95			$1.89			$1.79			$2.05
Diluted									$1.94			$1.88			$1.78			$2.03

(i) The weighted average number of common shares included in the computation of basic and diluted earnings per share has been adjusted to exclude shares repurchased and held by the Company as Treasury stock given that these shares do not rank for dividend.

(ii) Common Shares that would only be issued contingent on certain conditions totaling 3,757,241 at June 30, 2025, and 4,904,276 at June 30, 2024, are excluded from the computation of diluted earnings per share where the conditions governing exercisability have not been satisfied as of the end of the reporting period or they are antidilutive for the period presented.

CRH Form 10-Q 19

12. Accumulated other comprehensive loss

The changes in the balances for each component of Accumulated other comprehensive loss, net of tax, were:

in $ millions			Currency Translation			Cash Flow Hedges			Pension and Other Postretirement Plans			Total
Balance at March 31, 2025			(627)			(86)			(93)			(806)
Other comprehensive income (loss) before reclassifications			519			(11)			–			508
Amounts reclassified from Accumulated other comprehensive loss			(8)			1			(9)			(16)
Net current-period other comprehensive income (loss)			511			(10)			(9)			492
Other comprehensive (income) attributable to noncontrolling interests			(31)			–			–			(31)
Balance at June 30, 2025			(147)			(96)			(102)			(345)
Balance at December 31, 2024			(856)			(63)			(86)			(1,005)
Other comprehensive income (loss) before reclassifications			783			(32)			–			751
Amounts reclassified from Accumulated other comprehensive loss			(34)			(1)			(16)			(51)
Net current-period other comprehensive income (loss)			749			(33)			(16)			700
Other comprehensive (income) attributable to noncontrolling interests			(40)			–			–			(40)
Balance at June 30, 2025			(147)			(96)			(102)			(345)
Balance at March 31, 2024			(580)			(84)			(133)			(797)
Other comprehensive (loss) income before reclassifications			(44)			27			–			(17)
Amounts reclassified from Accumulated other comprehensive loss			(5)			(8)			2			(11)
Net current-period other comprehensive (loss) income			(49)			19			2			(28)
Other comprehensive loss attributable to noncontrolling interests			12			–			–			12
Balance at June 30, 2024			(617)			(65)			(131)			(813)
Balance at December 31, 2023			(439)			(47)			(130)			(616)
Other comprehensive loss before reclassifications			(158)			(37)			–			(195)
Amounts reclassified from Accumulated other comprehensive loss			(39)			19			(1)			(21)
Net current-period other comprehensive (loss)			(197)			(18)			(1)			(216)
Other comprehensive loss attributable to noncontrolling interests			19			–			–			19
Balance at June 30, 2024			(617)			(65)			(131)			(813)

The amounts reclassified from Accumulated other comprehensive loss to income were:

			Three months ended						Six months ended
			June 30						June 30
in $ millions			2025			2024			2025			2024
Cash flow hedges
Cost of product revenues			1			(9)			(1)			22
Income tax expense (benefit)			–			1			–			(3)
Total			1			(8)			(1)			19
Pension and other postretirement plans
Other nonoperating (income) expense, net			(9)			2			(17)			(2)
Income tax expense			–			–			1			1
Total			(9)			2			(16)			(1)
Reclassifications from Accumulated other comprehensive loss to income			(8)			(6)			(17)			18

CRH Form 10-Q 20

13. Segment information

The Company has the following three operating and reportable segments:

Americas Materials Solutions;

Americas Building Solutions; and

International Solutions

The Americas Materials Solutions segment provides solutions for the construction and maintenance of public infrastructure, commercial and residential buildings in North America. The primary materials produced by this segment include aggregates, cement, readymixed concrete and asphalt. This segment also provides paving and construction services for customers.

The Americas Building Solutions segment manufactures, supplies and delivers solutions for the built environment in communities across North America. Our subsidiaries within this segment offer building and infrastructure solutions serving complex critical infrastructure (such as water, energy, transportation and telecommunications projects) and outdoor living solutions for enhancing private and public spaces.

The International Solutions segment provides integrated building solutions across Europe and Australia. The business integrates materials, products, and services to provide complete building solutions for use in the construction and renovation of critical infrastructure, commercial and residential buildings and outdoor living spaces.

Adjusted EBITDA is defined as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, loss on impairments, gain/loss on divestitures and gain/loss on investments, income/loss from equity method investments, substantial acquisition-related costs and pension expense/income excluding current service cost component.

The key performance measures and segment expenses for the Company’s reportable segments were:

			Three months ended June 30, 2025
in $ millions			Americas Materials Solutions			Americas Building Solutions			International Solutions			Total
Revenue			4,509			2,159			3,538			10,206
Less:
Labor			948			385			648			1,981
Energy costs			208			32			257			497
Other segment items (i)			2,112			1,241			1,912			5,265
Adjusted EBITDA			1,241			501			721			2,463

			Three months ended June 30, 2024
in $ millions			Americas Materials Solutions			Americas Building Solutions			International Solutions			Total
Revenue			4,406			2,116			3,132			9,654
Less:
Labor			918			364			575			1,857
Energy costs			200			32			238			470
Other segment items (i)			2,095			1,244			1,733			5,072
Adjusted EBITDA			1,193			476			586			2,255

			Six months ended June 30, 2025
in $ millions			Americas Materials Solutions			Americas Building Solutions			International Solutions			Total
Revenue			6,752			3,841			6,369			16,962
Less:
Labor			1,702			760			1,305			3,767
Energy costs			348			64			477			889
Other segment items (i)			3,402			2,229			3,717			9,348
Adjusted EBITDA			1,300			788			870			2,958

CRH Form 10-Q 21

			Six months ended June 30, 2024
in $ millions			Americas Materials Solutions			Americas Building Solutions			International Solutions			Total
Revenue			6,608			3,809			5,770			16,187
Less:
Labor			1,626			721			1,157			3,504
Energy costs			336			64			464			864
Other segment items (i)			3,438			2,240			3,441			9,119
Adjusted EBITDA			1,208			784			708			2,700

(i) The nature of other segment items is similar for each segment and primarily includes raw materials, haulage costs, subcontractor costs and other Selling, general and administrative expenses. The composition of other segment items is such that at a segment level none of these items is individually significant in determining segment performance.

			Three months ended						Six months ended
			June 30						June 30
in $ millions			2025			2024			2025			2024
Adjusted EBITDA			2,463			2,255			2,958			2,700
Depreciation, depletion and amortization			(528)			(424)			(1,005)			(821)
Interest income			30			36			67			79
Interest expense			(200)			(155)			(381)			(288)
(Loss) gain on divestitures and investments (i)			(16)			23			(42)			183
Pension income excluding current service cost component (i)			5			1			9			2
Other interest, net (i)			2			(1)			4			(1)
Substantial acquisition-related costs			–			(2)			–			(22)
Income from operations before income tax expense and income from equity method investments			1,756			1,733			1,610			1,832

(i) (Loss) gain on divestitures and investments, pension income excluding current service cost component and other interest, net have been included in Other nonoperating (expense) income, net in the Condensed Consolidated Statements of Income.

Depreciation, depletion and amortization for each of the segments were:

			Three months ended						Six months ended
			June 30						June 30
in $ millions			2025			2024			2025			2024
Americas Materials Solutions			235			208			455			398
Americas Building Solutions			97			84			188			164
International Solutions			196			132			362			259
Total depreciation, depletion and amortization			528			424			1,005			821

The segment assets were:

			June 30			December 31			June 30
in $ millions			2025			2024			2024
Assets
Americas Materials Solutions			22,993			21,474			21,226
Americas Building Solutions			9,838			9,049			8,837
International Solutions			17,098			15,011			13,082
Total assets for reportable segments			49,929			45,534			43,145

CRH Form 10-Q 22

Additions to property, plant and equipment and intangible assets for each of the segments were:

			Six months ended
			June 30
in $ millions			2025			2024
Property, plant and equipment and intangible asset additions (i)
Americas Materials Solutions			582			568
Americas Building Solutions			314			233
International Solutions			494			385
Total property, plant and equipment and intangible asset additions			1,390			1,186

(i) Property, plant and equipment and intangible asset additions exclude asset retirement cost additions.

14. Pension and other postretirement benefits

Components of Net Periodic Benefit Cost

The components of net periodic benefit cost recognized in the Condensed Consolidated Statements of Income for the Pension and Other Postretirement Benefit (OPEB) Plans were:

			U.S.												Non-U.S.
			Three months ended						Six months ended						Three months ended						Six months ended
			June 30						June 30						June 30						June 30
in $ millions			2025			2024			2025			2024			2025			2024			2025			2024
Service cost			1			–			1			–			10			10			20			20
Interest cost			6			6			12			12			22			21			42			42
Expected return on assets			(6)			(5)			(11)			(10)			(26)			(22)			(49)			(44)
Amortization of:
Past service credit			–			–			–			–			(3)			(3)			(6)			(6)
Actuarial loss			–			1			–			2			2			1			3			2
Settlement gain (i)			–			–			–			–			–			–			–			(3)
Net periodic benefit cost (ii) (iii)			1			2			2			4			5			7			10			11

(i) Settlement gain of $3 million for the six months ended June 30, 2024 relates to pension plans divested as part of the sale of the Company's Lime operations in Europe and is included in (loss) gain on divestitures and investments, within Other nonoperating (expense) income, net.

(ii) Includes net periodic benefit cost of $1 million and $1 million related to OPEB plans for the three months ended June 30, 2025, and June 30, 2024, and $2 million and $2 million for the six months ended June 30, 2025, and June 30, 2024, respectively.

(iii) Service cost is included within Cost of revenues and Selling, general and administrative expenses while all other cost components are recorded within Other nonoperating (expense) income, net.

CRH Form 10-Q 23

15. Variable interest entities

The Company’s operations in the Philippines are conducted through a Variable Interest Entity (VIE), wherein the Company holds 40% of the equity share capital and a 55% share of earnings and distributions. The remaining noncontrolling interest of 60% equity share capital and 45% share of earnings and distributions is held by an unrelated party. The Company’s voting rights are not proportional to its share of earnings and distributions, and substantially all of the activities of the Philippines business are conducted on behalf of the Company and controlled by the Company through contractual relationships. The Philippines business meets the definition of a VIE for which the Company is the primary beneficiary and, therefore, is consolidated.

Further, the Company has provided subordinated debt to the intermediate parent of the Philippines business which exposes the Company to the profits and losses of the Philippines business. The debt is repayable only where the shareholder agreement of the intermediate parent of the Philippines business is terminated or where the Company transfers its shares in the intermediate parent to an unrelated entity (i.e., the debt exposure of the Company becomes in substance a residual interest in the intermediate parent).

The carrying amounts of assets and liabilities of the consolidated VIE, reported within the Condensed Consolidated Balance Sheets before intragroup eliminations with other CRH companies were:

			June 30			December 31			June 30
in $ millions			2025			2024			2024
Assets
Current assets:
Cash and cash equivalents			27			21			34
Accounts receivable, net			43			38			38
Inventories			91			96			98
Other current assets			61			58			52
Total current assets			222			213			222
Property, plant and equipment, net			849			846			852
Goodwill			196			190			188
Intangible assets, net			1			1			–
Operating lease right-of-use assets, net			4			5			5
Other noncurrent assets			11			9			10
Total assets			1,283			1,264			1,277
Liabilities
Current liabilities:
Accounts payable			104			106			94
Accrued expenses			43			44			36
Current portion of long-term debt			62			33			82
Operating lease liabilities			1			1			1
Other current liabilities			25			25			25
Total current liabilities			235			209			238
Long-term debt			347			345			303
Deferred income tax liabilities			95			94			95
Noncurrent operating lease liabilities			4			4			4
Other noncurrent liabilities			23			21			18
Total liabilities			704			673			658

The operating results of the consolidated VIE, reported within the Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Cash Flows before intragroup eliminations with other CRH companies were:

			Three months ended						Six months ended
			June 30						June 30
in $ millions			2025			2024			2025			2024
Total revenues			82			98			166			194
Total cost of revenues			(85)			(89)			(165)			(176)
Gross (loss) profit			(3)			9			1			18
Net loss			(17)			(3)			(30)			(12)
Net cash used in operating activities									(12)			(2)

CRH Form 10-Q 24

16. Redeemable noncontrolling interests

The Redeemable noncontrolling interests primarily comprise the noncontrolling interests in two of the Company’s North American subsidiaries, which are currently redeemable. The Company has the ability to exercise the call options for the noncontrolling interests on or after December 31, 2031, and December 31, 2040, respectively. In addition to the call options, the noncontrolling interest holder has the right to sell the noncontrolling interests to the Company, which are currently exercisable. These noncontrolling interests have put and call options and both are redeemable based on multiples of EBITDA. The noncontrolling interests are considered redeemable noncontrolling equity interests, classified as temporary or mezzanine equity, as their redemption is not solely within the Company’s control. The noncontrolling interests were recorded at their respective fair values as of the acquisition dates and are adjusted to their expected redemption values, with an offsetting entry to retained earnings, as of the reporting date as if that date was the redemption date, if those amounts exceed their respective carrying values.

The following table summarizes the redeemable noncontrolling interest for the following periods:

in $ millions
Balance at March 31, 2025			379
Net income attributable to redeemable noncontrolling interests			8
Adjustment to the redemption value			6
Dividends paid			(4)
Balance at June 30, 2025			389

Balance at March 31, 2024			326
Net income attributable to redeemable noncontrolling interests			10
Adjustment to the redemption value			3
Dividends paid			(4)
Balance at June 30, 2024			335

in $ millions
Balance at December 31, 2024			384
Net income attributable to redeemable noncontrolling interests			8
Adjustment to the redemption value			13
Dividends paid			(16)
Balance at June 30, 2025			389

Balance at December 31, 2023			333
Net income attributable to redeemable noncontrolling interests			12
Adjustment to the redemption value			7
Dividends paid			(17)
Balance at June 30, 2024			335

17. Commitments and contingencies

Guarantees

The Company has given letters of guarantee to secure obligations of subsidiary undertakings as follows: $14.9 billion, $13.1 billion, and $12.8 billion in respect of loans and borrowings, bank advances and derivative obligations at June 30, 2025, December 31, 2024, and June 30, 2024, respectively, and $0.5 billion, $0.4 billion, and $0.4 billion at June 30, 2025, December 31, 2024, and June 30, 2024, respectively, in respect of letters of credit due within one year.

Legal Proceedings

The Company is not involved in any proceedings that it believes could reasonably be expected to have a material adverse effect on the Company’s financial condition, results of operations or liquidity.

18. Subsequent events

The Company has evaluated subsequent events occurring through to the date the Condensed Consolidated Financial Statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the Condensed Consolidated Financial Statements except as disclosed in the notes elsewhere.

CRH Form 10-Q 25