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Description of the Business and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2013
Description of the Business and Summary of Significant Accounting Policies  
Schedule of inventories

Inventory consisted of the following at December 31 (in thousands):

 
   2013   2012  

Raw materials

   $ 660,384   $ 594,388  

Supplies

     293,533     278,494  

Work in progress

     84,710     82,934  

Finished goods

     276,120     246,691  
           
​ ​ ​ ​ ​ ​ ​ ​

 

   $ 1,314,747   $ 1,202,507  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Schedule of property, plant and equipment

 The company's property, plant and equipment at December 31 consisted of the following (in thousands):

 
   2013   2012  

Land and improvements

   $ 293,083   $ 288,360  

Buildings and improvements

     550,226     524,530  

Plant, machinery and equipment

     2,942,684     2,810,106  

Construction in progress

     153,821     138,763  
           
​ ​ ​ ​ ​ ​ ​ ​

 

     3,939,814     3,761,759  

Less accumulated depreciation

     1,713,680     1,530,561  
           
​ ​ ​ ​ ​ ​ ​ ​

Property, plant and equipment, net

   $ 2,226,134   $ 2,231,198  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Schedule of intangible assets

The company's intangible assets, at December 31, consisted of the following (in thousands):

 
   2013   2012   Useful Life   Weighted
Average
Amortization
Period

Customer and scrap generator relationships

   $ 408,400   $ 408,400   10 to 25 years   20 years

Trademarks

     189,800     189,800   Indefinite   —

Trademarks

     3,200     3,200   12 years   12 years

Other

     100     100   5 years   5 years
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

     601,500     601,500       20 years

Less accumulated amortization

     215,341     184,865        
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 386,159   $ 416,635        
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                 
Schedule of estimated amortization expense, related to amortizable intangibles

Estimated amortization expense, related to amortizable intangibles, for the years ending December 31 is as follows (in thousands):

2014

   $ 26,090  

2015

     23,390  

2016

     20,902  

2017

     18,193  

2018

     15,764  

Thereafter

     92,020  
       
​ ​ ​ ​ ​

Total

   $ 196,359  
       
​ ​ ​ ​ ​
​ ​ ​ ​ ​
       
Schedule of allocation of goodwill to reporting units

The company's goodwill is allocated to the following reporting units at December 31, (in thousands):

 
   2013   2012  

OmniSource—Metals Recycling/Ferrous Resources Segment

   $ 558,247   $ 564,793  

The Techs—Steel Segment

     142,783     142,783  

Roanoke Bar Division—Steel Segment

     29,041     29,041  

New Millennium Building Systems—Steel Fabrication Segment

     1,925     1,925  
           
​ ​ ​ ​ ​ ​ ​ ​

 

   $ 731,996   $ 738,542  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Schedule of reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share

 The following table presents a reconciliation of the numerators and the denominators of the company's basic and diluted earnings per share computations for the years ended December 31 (in thousands, except per share data):

 
   2013   2012  
 
   Net Income
(Numerator)		   Shares
(Denominator)		   Per Share
Amount		   Net Income
(Numerator)		   Shares
(Denominator)		   Per Share
Amount		  

Basic earnings per share

   $ 189,314     220,916   $ 0.86   $ 163,551     219,159   $ 0.75  

Dilutive stock options, deferred stock units, and restricted stock units

     —     1,392           —     916        

5.125% convertible senior notes

     9,432     16,688           9,432     16,549        
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Diluted earnings per share

   $ 198,746     238,996   $ 0.83   $ 172,983     236,624   $ 0.73  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                               

 

 

   2011  
 
   Net Loss
(Numerator)		   Shares
(Denominator)		   Per Share
Amount		  

Basic earnings per share

   $ 278,120     218,471   $ 1.27  

Dilutive stock options and deferred stock units

     —     1,139        

5.125% convertible senior notes

     9,432     16,382        
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Diluted earnings per share

   $ 287,552     235,992   $ 1.22  
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​