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)
36
15. Related-Party Transactions (continued)
At December 31, 2021, 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, 2021, the outstanding short-
term notes payable to Parent and affiliates ranged from $82,725 to $500,000, with maturity dates
ranging from August 23, 2022 to October 11, 2022, and interest rates of 5.00%.
At December 31, 2021, the outstanding long-term notes receivable from Parent and affiliates of
$23,300 with maturity date of December 31, 2023, and interest rate of 5.50%. At December 31,
2021, the outstanding short-term notes receivable from Parent and affiliates ranged from $140,000
to $640,000 with maturity dates ranging from July 23, 2022 to August 23, 2022, and interest rates
ranging from 5.00 to 5.50%. These balances are included in Due from Parent and affiliates, net in
the Consolidated Balance Sheets.
For the years ended December 31, 2022 and 2021, 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 2022 and 2021, the Company and its
subsidiaries paid net interest of $77,314 and $58,765, 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 $176,158 and $197,272
in 2022 and 2021, 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.
Interest expense presented in the accompanying Consolidated Statements of Operations includes
interest incurred on amounts due to the Parent and affiliates of $122,328 and $123,795 in 2022
and 2021, respectively.
The Company participates in insurance plans administered by Parent under which it is fully insured
for general liability and workers’ compensation claims and pays an annual premium. Premiums
paid to Parent for insurance in 2022 and 2021 were $11,272 and $11,163, respectively.