CRH America, Inc. and Subsidiaries
(Ultimately Wholly Owned Subsidiaries of CRH plc,
a Republic of Ireland Corporation)
Notes to Consolidated Financial Statements (continued)
(In Thousands)
35
13. Related-Party Transactions (continued)
At December 31, 2023, the outstanding long-term notes receivable from Parent and affiliates
ranged from $140,000 to $640,000 with maturity dates ranging from July 23, 2029 to August 23,
2029, and interest rate of 5.50%. These balances are included in Due from Parent and affiliates,
net in the Consolidated Balance Sheets. At December 31, 2023, the outstanding short-term notes
receivable from Parent and affiliates was $23,300 with a maturity date of December 31, 2024, and
interest rate of 5.50%.
At December 31, 2022, the outstanding long-term notes payable to Parent and affiliates from
$87,445 to $1,750,000, with maturity dates ranging from December 15, 2026 to October 15, 2033,
and interest rates ranging from 5.00% to 6.40%. At December 31, 2022, the outstanding short-
term notes payable to Parent and affiliates was $500,000, with a maturity date of April 11, 2023,
and interest rate of 5.00%.
At December 31, 2022, the outstanding long-term notes receivable from Parent and affiliates
ranged from $140,000 to $640,000 with maturity dates ranging from July 23, 2029 to August 23,
2029, and interest rate of 5.50%. These balances are included in Due from Parent and affiliates,
net in the Consolidated Balance Sheets. At December 31, 2022, the outstanding short-term notes
receivable from Parent and affiliates was $23,300 with a maturity date of December 31, 2023, and
interest rate of 5.50%.
For the years ended December 31, 2023 and 2022, the Company had the following significant
transactions with the Parent and affiliates:
The Company pays interest expense on amounts due and receives interest income on amounts
owed to them from the Parent and affiliates. During 2023 and 2022, the Company and its
subsidiaries paid net interest of $(34,687) and $77,314, respectively, on loans to the Parent and
affiliates.
Interest income, net presented in the accompanying Consolidated Statements of Operations
includes interest earned on amounts due from the Parent and affiliates of $211,344 and $176,158
in 2023 and 2022, respectively. The interest income reimburses the Company for a portion of
external interest expense incurred by the Company. The amount is determined at management’s
discretion.