UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM SD
Specialized Disclosure Report

VMC (280) JPG (1).jpg
Vulcan Materials Company
(Exact name of registrant as specified in its charter)

New Jersey001-3384120-8579133
(State or other jurisdiction of incorporation)
(Commission File Number)(I.R.S. Employer Identification No)
1200 Urban Center Drive
Birmingham, Alabama35242
(Address of principal executive offices)
(Zip Code)
Denson N. Franklin III(205) 298-3000
(Name and telephone number, including area code, of the person to contact in connection with this report.)
Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:
o Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, ____.

þ Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2023.


Section 1 – Conflict Minerals Disclosure
Item 1.01 Conflict Minerals Disclosure and Report
Not applicable.
Item 1.02 Exhibit
Not applicable.
Section 2 – Resource Extraction Issuer Disclosure
Item 2.01 Resource Extraction Issuer Disclosure and Report
Disclosure of Payments by Resource Extraction Issuers
The payment disclosure required by this Item 2.01 is included as Exhibit 2.01 to this Form SD.
Report on payments to governments for the year ended December 31, 2023
This report provides a consolidated overview of the payments to governments made by Vulcan Materials Company (the “Company,” “Vulcan,” “we,” “our”) and our consolidated subsidiaries for the year ended December 31, 2023.
All payments are reported in U.S. dollars. Payments that were made in currencies other than in U.S. dollars have been converted to U.S. dollars using the exchange rates as of December 31, 2023.
Our business segments
Our business segments are organized around our principal product lines: aggregates, asphalt mix and ready-mixed concrete. The vast majority of our activities are domestic. We sell a relatively small amount of construction aggregates outside the United States. We have three business segments:
•Aggregates Segment: As the largest U.S. supplier of construction aggregates, we have mining properties across the U.S. and in the Bahamas, Canada, Honduras, Mexico and the U.S. Virgin Islands. For additional information regarding our Mexican operations, see the NAFTA Arbitration section in the Note titled "Commitments and Contingencies" to the condensed consolidated financial statements in our most recent periodic report. Our primary focus is serving states and metropolitan markets in the U.S. that are expected to experience the most significant growth in population, households and employment. These three demographic factors are significant drivers of demand for aggregates. Aggregates provide the basic material for the infrastructure needed to maintain and expand the U.S. economy. Instruction 13 to Item 2.01 of Form SD currently provides that "minerals," as used in Item 2.01, includes any material for which an issuer with mining operations would provide disclosure under subpart 1300 of Regulation S-K or any successor requirements or policies. Applying this Instruction, our Aggregates segment is involved in the commercial development of minerals (crushed stone, sand and gravel).
•Asphalt Segment: While aggregates is our focus and primary business, we produce and sell aggregates-intensive asphalt mix products in certain domestic markets. Aggregates are a major component in asphalt mix, comprising approximately 95% by weight of this product. We meet the aggregates requirements for our Asphalt segment primarily through our Aggregates segment. Our Asphalt segment is not involved in the commercial development of minerals.
•Concrete Segment: While aggregates is our focus and primary business, we produce and sell aggregates-intensive ready-mixed concrete products in certain domestic markets. Aggregates are a major component in ready-mixed concrete, comprising approximately 80% by weight of this product. We meet the aggregates requirements for our Concrete segment primarily through our Aggregates segment. Our Concrete segment is not involved in the commercial development of minerals.
Our projects
This report discloses the payments made by us to governments for the commercial development of minerals (aggregates), which includes the exploration, extraction, processing, and export of such minerals, or the acquisition of a license for any such activity by our Aggregates segment.
As of December 31, 2023, we had 350 mining properties of which we were actively mining 236 properties, developing 80 properties and exploring the development of the remaining 34 properties. The type of mineral being commercially developed at all of our mining properties is similar (crushed stone, sand and gravel). Likewise, all of our mining operations utilize similar methods of extraction (open pit mining is utilized at all non-domestic mining properties and the vast majority of our domestic mining properties, with the few remaining domestic properties utilizing underground mining). Consequently, we have disclosed payments for mining properties as separate projects segregated by major subnational political jurisdiction where the commercial development of the resource is taking place.
•United States: extraction of crushed stone, sand and gravel primarily through open pit mining in 23 states and Washington, D.C., and the U.S. Virgin Islands. We consider these 342 mining properties as one project.
•Freeport, Bahamas: extraction of crushed stone through open pit mining. We consider this mining property as one project.
•British Columbia, Canada: extraction of crushed stone, sand and gravel through open pit mining. We consider these 5 mining properties as one project.
•Puerto Cortes, Honduras: extraction of crushed stone through open pit mining. We consider this mining property as one project.
•Quintana Roo, Mexico: extraction of crushed stone through open pit mining. We consider this mining property as one project.


As of December 31, 2023, we had exploration stage mining properties in eleven states and Canada. Pursuant to Item 2.01(b)(1) of Form SD, we are delaying disclosing payment information related to exploratory activities conducted at these mining properties until our Form SD submitted for the fiscal year ending December 31, 2024, which is the fiscal year immediately following the fiscal year in which payments were made.
Section 3 – Exhibits
Item 3.01 Exhibits
The following exhibits are included as part of this report:
Exhibit NumberExhibit Description
Resource Extraction Payment Report for the fiscal year ended December 31, 2023 as required by Item 2.01 of this Form.
104Cover Page Interactive Data File (embedded within the XBRL document)



SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.
Vulcan Materials Company
By:
/s/ Denson N. Franklin III
Date: September 20, 2024
Denson N. Franklin III
Senior Vice President, General Counsel and Secretary



EXHIBIT 2.01
RESOURCE EXTRACTION PAYMENT REPORT OF VULCAN MATERIALS COMPANY
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023

Project-level disclosure
The table below sets forth our payments made to governments, by project and type of payment:
For the fiscal year ended December 31, 2023
US $ in thousands 1
TaxesRoyaltiesFeesProduction EntitlementsBonusesDividendsPayments for infrastructure improvementsCommunity and social responsibility paymentsTotal
United States
United States$209,861 2$1,039 $300 $— $— $— $— $— $211,200 
Bahamas 3
Freeport— — — — — — — — — 
Canada
British Columbia1,397 491 85 — — — — — 1,573 
Honduras
Puerto Cortes2,743 5— 2,305 15 — — — 18 5,081 
Mexico
Quintana Roo5,257 6— 577 1,676 — — — 78 7,588 
Total$219,258 $1,130 $3,267 $1,691 $— $— $— $96 $225,442 
1.All payments are reported in U.S. dollars. Payments relating to the project in Canada were made in Canadian dollars, payments relating to the project in Honduras were made in Honduran lempiras, and payments relating to the project in Mexico were made in Mexican pesos. Such payments made in currencies other than in U.S. dollars have been converted to U.S. dollars using the exchange rates as of December 31, 2023.
2.Vulcan files a consolidated income tax return in the U.S., which includes all U.S. entities including the project listed. The U.S. Federal Government levies corporate income taxes at the consolidated group level rather than on a per-project basis. Accordingly, the Company has disclosed payments of taxes at the U.S. consolidated group level. The payments relate not to particular projects but to the consolidated U.S. income of the Company. This amount represents U.S. Federal income taxes of $235,799,000 paid in fiscal year 2023 multiplied by 89%, which is the percentage of gross profit attributable to our Aggregates segment.
3.Payments to the Bahamian government did not exceed $100,000 in the aggregate.
4.This amount includes $786,000 of income taxes and $292,000 of payroll withholding taxes paid to the Canadian Federal Government, $122,000 of employer health taxes paid to the British Columbia provincial government, and $197,000 of property taxes paid to the Port McNeill municipal government.
5.This amount includes $612,000 of income taxes, $1,337,000 of import/export taxes, $227,000 of payroll withholding taxes, $187,000 of mining taxes, and $4,000 of property taxes paid to the Honduran Central Government. This amount also includes $361,000 of municipal taxes, $6,000 of payroll withholding taxes, $4,000 of property taxes, and $5,000 for environmental fines paid to the Municipality of Puerto Cortes.
6.This amount includes $847,000 of income taxes, $2,305,000 of payroll withholding taxes and $11,000 of export/import taxes paid to the Mexican Federal government. This amount also includes $390,000 of payroll withholding taxes paid to the State of Quintana Roo, $606,000 of property taxes paid to the Municipality of Solidaridad, and $1,098,000 of property taxes paid to the Municipality of Cozumel.


Exhibit 2.01- Page 1

Government-level disclosure
The table below sets forth our payments made to governments, by government and type of payment:

For the fiscal year ended December 31, 2023
US $ in thousands 1
TaxesRoyaltiesFeesProduction EntitlementsBonusesDividendsPayments for infrastructure improvementsCommunity and social responsibility paymentsTotal
United States
U.S. Federal Government 2
$209,861 $— $— $— $— $— $— $— $209,861 
U.S. Bureau of Land Management— 1,039 50 — — — — — 1,089 
U.S. Army Corp of Engineers— — 250 — — — — — 250 
Bahamas 3
— — — — — — — — — 
Canada
Canadian Federal Government1,078 — — — — — — — 1,078 
British Columbia Provincial Government122 91 85 — — — — — 298 
Port McNeill Municipal Government197 — — — — — — — 197 
Honduras
Honduran Central Government2,367 — 2,303 14 — — — — 4,684 
Municipality of Puerto Cortes376 — 2 1 — — — 18 397 
Mexico
Mexican Federal Government3,163 — 577 1,156 — — — 78 4,974 
State of Quintana Roo390 — — — — — — — 390 
Municipality of Solidaridad606 — — — — — — — 606 
Municipality of Cozumel1,098 — — 520 — — — — 1,618 
Total$219,258 $1,130 $3,267 $1,691 $— $— $— $96 $225,442 
1.All payments are reported in U.S. dollars. Payments relating to the project in Canada were made in Canadian dollars, payments relating to the project in the Bahamas were made in Bahamian dollars, payments relating to the project in Honduras were made in Honduran lempiras, and payments relating to the project in Mexico were made in Mexican pesos. Such payments made in currencies other than in U.S. dollars have been converted to U.S. dollars using the exchange rates as of December 31, 2023.
2.The amount shown represents U.S. Federal income taxes of $235,799,000 paid in fiscal year 2023 multiplied by 89%, which is the percentage of gross profit attributable to our Aggregates segment.
3    Payments to the Bahamian government did not exceed $100,000 in the aggregate.        
Exhibit 2.01- Page 2

Payment details disclosure
The table below provides the details of payments made to governments:

For the fiscal year ended December 31, 2023
Subnational JurisdictionGovernmentBusiness SegmentProject
Resource
Extraction Method 7
Amount (U.S. $ in thousands)1
United States
U.S. Federal Government U.S. Federal GovernmentAggregates
United States 2
Stone, Sand and GravelOpen pit$209,861 
U.S. Federal GovernmentU.S. Bureau of Land ManagementAggregates
United States 2
Stone, Sand and GravelOpen pit1,089 
U.S. Federal GovernmentU.S. Army Corp of EngineersAggregates
United States 2
Stone, Sand and GravelOpen pit250 
   Total$211,200 
Bahamas 3
—AggregatesFreeportStoneOpen pit— 
Canada
British ColumbiaCanadian Federal GovernmentAggregates
British Columbia 4
Stone, Sand and GravelOpen pit$1,078 
British ColumbiaBritish Columbia Provincial GovernmentAggregates
British Columbia 4
Stone, Sand and GravelOpen pit298 
British ColumbiaPort McNeil Municipal GovernmentAggregates
British Columbia 4
Stone, Sand and GravelOpen pit197 
   Total$1,573 
Honduras
Cortes department Honduran Central GovernmentAggregates
Puerto Cortes 5
StoneOpen pit$4,684 
Cortes department Municipality of Puerto CortesAggregates
Puerto Cortes 5
StoneOpen pit397 
   Total$5,081 
Mexico
State of Quintana RooMexican Federal GovernmentAggregates
Quintana Roo 6
StoneOpen pit$4,974 
State of Quintana RooState of Quintana RooAggregates
Quintana Roo 6
StoneOpen pit390 
State of Quintana RooMunicipality of SolidaridadAggregates
Quintana Roo 6
StoneOpen pit606 
State of Quintana RooMunicipality of CozumelAggregates
Quintana Roo 6
StoneOpen pit1,618 
   Total$7,588 
1.All payments are reported in U.S. dollars. Payments relating to the project in Canada were made in Canadian dollars, payments relating to the project in Honduras were made in Honduran lempiras and payments relating to the project in Mexico were made in Mexican pesos. Such payments made in currencies other than in U.S. dollars have been converted to U.S. dollars using the exchange rates as of December 31, 2023.
2.Vulcan files a consolidated income tax return in the U.S., which includes all U.S. entities including the projects listed. The U.S. Federal Government levies corporate income taxes at the consolidated group level rather than on a per-project basis. Accordingly, the Company has disclosed payments of taxes at the U.S. Consolidated group level. The payments relate not to particular projects but to the consolidated U.S. income of the Company. The amount shown represents U.S. Federal income taxes of $235,799,000 paid in fiscal year 2023 multiplied by 89%, which is the percentage of gross profit attributable to our Aggregates segment.
3.Payments to the Bahamian government did not exceed $100,000 in the aggregate.
4.This amount includes $786,000 of income taxes and $292,000 of payroll withholding taxes paid to the Canadian Federal Government, $122,000 of employer health taxes paid to the British Columbia provincial government, and $197,000 of property taxes paid to the Port McNeill municipal government.
5.This amount includes $612,000 of income taxes, $1,337,000 of import/export taxes, $227,000 of payroll withholding taxes, $187,000 of mining taxes, and $4,000 of property taxes paid to the Honduran Central Government. This amount also includes $361,000 of municipal taxes, $6,000 of payroll withholding taxes, $4,000 of property taxes, and $5,000 for environmental fines paid to the Municipality of Puerto Cortes.
6.This amount includes $847,000 of income taxes, $2,305,000 of payroll withholding taxes and $11,000 of export/import taxes paid to the Mexican Federal government. This amount also includes $390,000 of payroll withholding taxes paid to the State of Quintana Roo, $606,000 of property taxes paid to the Municipality of Solidaridad, and $1,098,000 of property taxes paid to the Municipality of Cozumel.
7.Open pit mining is utilized at all non-domestic mining properties and the vast majority of our domestic mining properties, with the few remaining domestic properties utilizing underground mining.

Exhibit 2.01- Page 3
v3.24.3
Document Information
 12 Months Ended
Dec. 31, 2023
Document Information:  
Document Type 2.01 SD
Amendment false
CIK 0001396009
Registrant Name VULCAN MATERIALS COMPANY
Period End Date Dec. 31, 2023
Reporting Currency USD
v3.24.3
Payments, by Category - USD ($)
$ in Thousands
Taxes
Royalties
Fees
Prod. Entitlements
Comm. Social Resp.
Total Payments
Total [1] $ 219,258 $ 1,130 $ 3,267 $ 1,691 $ 96 $ 225,442
[1]
All payments are reported in U.S. dollars. Payments relating to the project in Canada were made in Canadian dollars, payments relating to the project in the Bahamas were made in Bahamian dollars, payments relating to the project in Honduras were made in Honduran lempiras, and payments relating to the project in Mexico were made in Mexican pesos. Such payments made in currencies other than in U.S. dollars have been converted to U.S. dollars using the exchange rates as of December 31, 2023.
v3.24.3
Payments, by Project - 12 months ended Dec. 31, 2023 - USD ($)
$ in Thousands
Taxes
Royalties
Fees
Prod. Entitlements
Comm. Social Resp.
Total Payments
Total [1] $ 219,258 $ 1,130 $ 3,267 $ 1,691 $ 96 $ 225,442
Vulcan Materials Company [Member]            
Total [2] 209,861 1,039 300     211,200
British Columbia [Member]            
Total [2] 1,397 $ 91 85     1,573
Puerto Cortes [Member]            
Total [2] 2,743   2,305 15 18 5,081
Quintana Roo [Member]            
Total [2] $ 5,257   $ 577 $ 1,676 $ 78 $ 7,588
[1]
All payments are reported in U.S. dollars. Payments relating to the project in Canada were made in Canadian dollars, payments relating to the project in the Bahamas were made in Bahamian dollars, payments relating to the project in Honduras were made in Honduran lempiras, and payments relating to the project in Mexico were made in Mexican pesos. Such payments made in currencies other than in U.S. dollars have been converted to U.S. dollars using the exchange rates as of December 31, 2023.
[2]
All payments are reported in U.S. dollars. Payments relating to the project in Canada were made in Canadian dollars, payments relating to the project in Honduras were made in Honduran lempiras, and payments relating to the project in Mexico were made in Mexican pesos. Such payments made in currencies other than in U.S. dollars have been converted to U.S. dollars using the exchange rates as of December 31, 2023.
v3.24.3
Payments, by Government - 12 months ended Dec. 31, 2023 - USD ($)
$ in Thousands
Taxes
Royalties
Fees
Prod. Entitlements
Comm. Social Resp.
Total Payments
Total [1] $ 219,258 $ 1,130 $ 3,267 $ 1,691 $ 96 $ 225,442
UNITED STATES | U.S. Federal Government [Member]            
Total [1] 209,861         209,861
UNITED STATES | U.S. Bureau of Land Management [Member]            
Total [1]   1,039 50     1,089
UNITED STATES | U.S. Army Corp of Engineers [Member]            
Total [1]     250     250
CANADA | Canadian Federal Government [Member]            
Total [1] 1,078         1,078
CANADA | British Columbia Provincial Government [Member]            
Total [1] 122 $ 91 85     298
CANADA | Port McNeill Municipal Government [Member]            
Total [1] 197         197
HONDURAS | Honduran Central Government [Member]            
Total [1] 2,367   2,303 14   4,684
HONDURAS | Municipality of Puerto Cortes [Member]            
Total 376 [1]   2 1 18 [1] 397 [1]
MEXICO | Mexican Federal Government [Member]            
Total [1] 3,163   $ 577 1,156 $ 78 4,974
MEXICO | State of Quintana Roo [Member]            
Total [1] 390         390
MEXICO | Municipality of Solidaridad [Member]            
Total [1] 606         606
MEXICO | Municipality of Cozumel [Member]            
Total [1] $ 1,098     $ 520   $ 1,618
[1]
All payments are reported in U.S. dollars. Payments relating to the project in Canada were made in Canadian dollars, payments relating to the project in the Bahamas were made in Bahamian dollars, payments relating to the project in Honduras were made in Honduran lempiras, and payments relating to the project in Mexico were made in Mexican pesos. Such payments made in currencies other than in U.S. dollars have been converted to U.S. dollars using the exchange rates as of December 31, 2023.
v3.24.3
Payments, Details - 12 months ended Dec. 31, 2023 - USD ($)
$ in Thousands
Amount
 [1]
Type
Country
Subnat. Juris.
Govt.
Project
Resource
Segment
Ext. Method
#: 1                  
$ 209,861 Taxes UNITED STATES   U.S. Federal Government [Member] Vulcan Materials Company [Member] Stone, Sand and Gravel [Member] Aggregates [Member] Open Pit
#: 2                  
1,039 Royalties UNITED STATES   U.S. Bureau of Land Management [Member] United States [Member] Stone, Sand and Gravel [Member] Aggregates [Member] Open Pit
#: 3                  
50 Fees UNITED STATES   U.S. Bureau of Land Management [Member] United States [Member] Stone, Sand and Gravel [Member] Aggregates [Member] Open Pit
#: 4                  
250 Fees UNITED STATES   U.S. Army Corp of Engineers [Member] United States [Member] Stone, Sand and Gravel [Member] Aggregates [Member] Open Pit
#: 5                  
1,078 Taxes CANADA snj:CA-BC Canadian Federal Government [Member] British Columbia [Member] Stone, Sand and Gravel [Member] Aggregates [Member] Open Pit
#: 6                  
122 Taxes CANADA snj:CA-BC British Columbia Provincial Government [Member] British Columbia [Member] Stone, Sand and Gravel [Member] Aggregates [Member] Open Pit
#: 7                  
197 Taxes CANADA snj:CA-BC Port McNeill Municipal Government [Member] British Columbia [Member] Stone, Sand and Gravel [Member] Aggregates [Member] Open Pit
#: 8                  
91 Royalties CANADA snj:CA-BC British Columbia Provincial Government [Member] British Columbia [Member] Stone, Sand and Gravel [Member] Aggregates [Member] Open Pit
#: 9                  
85 Fees CANADA snj:CA-BC British Columbia Provincial Government [Member] British Columbia [Member] Stone, Sand and Gravel [Member] Aggregates [Member] Open Pit
#: 10                  
2,367 Taxes HONDURAS snj:HN-CR Honduran Central Government [Member] Puerto Cortes [Member] Stone [Member] Aggregates [Member] Open Pit
#: 11                  
2,303 Fees HONDURAS snj:HN-CR Honduran Central Government [Member] Puerto Cortes [Member] Stone [Member] Aggregates [Member] Open Pit
#: 12                  
14 Prod. Entitlements HONDURAS snj:HN-CR Honduran Central Government [Member] Puerto Cortes [Member] Stone [Member] Aggregates [Member] Open Pit
#: 13                  
376 Taxes HONDURAS snj:HN-CR Municipality of Puerto Cortes [Member] Puerto Cortes [Member] Stone [Member] Aggregates [Member] Open Pit
#: 14                  
2 Fees HONDURAS snj:HN-CR Municipality of Puerto Cortes [Member] Puerto Cortes [Member] Stone [Member] Aggregates [Member] Open Pit
#: 15                  
1 Prod. Entitlements HONDURAS snj:HN-CR Municipality of Puerto Cortes [Member] Puerto Cortes [Member] Stone [Member] Aggregates [Member] Open Pit
#: 16                  
18 Comm. Social Resp. HONDURAS snj:HN-CR Municipality of Puerto Cortes [Member] Puerto Cortes [Member] Stone [Member] Aggregates [Member] Open Pit
#: 17                  
3,163 Taxes MEXICO snj:MX-ROO Mexican Federal Government [Member] Quintana Roo [Member] Stone [Member] Aggregates [Member] Open Pit
#: 18                  
577 Fees MEXICO snj:MX-ROO Mexican Federal Government [Member] Quintana Roo [Member] Stone [Member] Aggregates [Member] Open Pit
#: 19                  
1,156 Prod. Entitlements MEXICO snj:MX-ROO Mexican Federal Government [Member] Quintana Roo [Member] Stone [Member] Aggregates [Member] Open Pit
#: 20                  
78 Comm. Social Resp. MEXICO snj:MX-ROO Mexican Federal Government [Member] Quintana Roo [Member] Stone [Member] Aggregates [Member] Open Pit
#: 21                  
390 Taxes MEXICO snj:MX-ROO State of Quintana Roo [Member] Quintana Roo [Member] Stone [Member] Aggregates [Member] Open Pit
#: 22                  
606 Taxes MEXICO snj:MX-ROO Municipality of Solidaridad [Member] Quintana Roo [Member] Stone [Member] Aggregates [Member] Open Pit
#: 23                  
1,098 Taxes MEXICO snj:MX-ROO Municipality of Cozumel [Member] Quintana Roo [Member] Stone [Member] Aggregates [Member] Open Pit
#: 24                  
$ 520 Prod. Entitlements MEXICO snj:MX-ROO Municipality of Cozumel [Member] Quintana Roo [Member] Stone [Member] Aggregates [Member] Open Pit
[1]
All payments are reported in U.S. dollars. Payments relating to the project in Canada were made in Canadian dollars, payments relating to the project in the Bahamas were made in Bahamian dollars, payments relating to the project in Honduras were made in Honduran lempiras, and payments relating to the project in Mexico were made in Mexican pesos. Such payments made in currencies other than in U.S. dollars have been converted to U.S. dollars using the exchange rates as of December 31, 2023.
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