Condensed Consolidating Information (Tables)

12 Months Ended

Dec. 31, 2017

Condensed Consolidating Information

Schedule of Condensed Consolidating Balance Sheets

Condensed Consolidating Balance Sheets (in thousands)
					Combined		Consolidating		Total
As of December 31, 2017	Parent		Guarantors		Non-Guarantors		Adjustments		Consolidated
Cash and equivalents	$	1,001,405	$	20,441	$	6,803	$	-	$	1,028,649
Accounts receivable, net		274,968		1,426,036		37,387		(869,554)		868,837
Inventories		685,103		752,151		91,890		(9,797)		1,519,347
Other current assets		73,748		16,005		5,962		(4,206)		91,509
Total current assets		2,035,224		2,214,633		142,042		(883,557)		3,508,342
Property, plant and equipment, net		859,419		1,618,438		198,047		-		2,675,904
Intangible assets, net		-		225,503		31,406		-		256,909
Goodwill		-		379,069		7,824		-		386,893
Other assets, including investments in subs		2,512,594		6,622		5,505		(2,497,037)		27,684
Total assets	$	5,407,237	$	4,444,265	$	384,824	$	(3,380,594)	$	6,855,732
Accounts payable	$	168,282	$	316,676	$	101,948	$	(97,458)	$	489,448
Accrued expenses		222,023		254,196		10,243		(136,186)		350,276
Current maturities of long-term debt		731		-		56,454		(28,390)		28,795
Total current liabilities		391,036		570,872		168,645		(262,034)		868,519
Long-term debt		2,326,466		-		169,799		(143,120)		2,353,145
Other liabilities		(661,839)		869,196		24,868		95,535		327,760
Total liabilities		2,055,663		1,440,068		363,312		(309,619)		3,549,424
Redeemable noncontrolling interests		-		-		111,240		-		111,240
Common stock		644		1,727,859		14,908		(1,742,767)		644
Treasury stock		(665,297)		-		-		-		(665,297)
Additional paid-in capital		1,141,534		128,076		797,196		(925,272)		1,141,534
Retained earnings (deficit)		2,874,693		1,148,262		(745,326)		(402,936)		2,874,693
Total Steel Dynamics, Inc. equity		3,351,574		3,004,197		66,778		(3,070,975)		3,351,574
Noncontrolling interests		-		-		(156,506)		-		(156,506)
Total equity		3,351,574		3,004,197		(89,728)		(3,070,975)		3,195,068
Total liabilities and equity	$	5,407,237	$	4,444,265	$	384,824	$	(3,380,594)	$	6,855,732

Note 14.  Condensed Consolidating Information (Continued)

					Combined		Consolidating		Total
As of December 31, 2016	Parent		Guarantors		Non-Guarantors		Adjustments		Consolidated
Cash and equivalents	$	766,685	$	54,677	$	20,121	$	-	$	841,483
Accounts receivable, net		229,148		1,257,245		23,689		(780,298)		729,784
Inventories		587,319		639,148		58,696		(9,952)		1,275,211
Other current assets		45,049		36,062		4,447		(2,361)		83,197
Total current assets		1,628,201		1,987,132		106,953		(792,611)		2,929,675
Property, plant and equipment, net		899,370		1,679,751		208,094		-		2,787,215
Intangible assets, net		-		251,919		32,058		-		283,977
Goodwill		-		385,527		7,824		-		393,351
Other assets, including investments in subs		2,769,884		7,335		5,832		(2,753,537)		29,514
Total assets	$	5,297,455	$	4,311,664	$	360,761	$	(3,546,148)	$	6,423,732
Accounts payable	$	141,089	$	265,764	$	89,659	$	(101,316)	$	395,196
Accrued expenses		198,085		220,917		8,793		(113,808)		313,987
Current maturities of long-term debt		674		700		29,347		(27,089)		3,632
Total current liabilities		339,848		487,381		127,799		(242,213)		712,815
Long-term debt		2,324,298		-		168,566		(139,670)		2,353,194
Other liabilities		(293,711)		1,219,444		42,482		(499,191)		469,024
Total liabilities		2,370,435		1,706,825		338,847		(881,074)		3,535,033
Redeemable noncontrolling interests		-		-		111,240		-		111,240
Common stock		641		1,727,859		14,908		(1,742,767)		641
Treasury stock		(416,829)		-		-		-		(416,829)
Additional paid-in capital		1,132,749		128,076		779,678		(907,754)		1,132,749
Retained earnings (deficit)		2,210,459		748,904		(734,351)		(14,553)		2,210,459
Total Steel Dynamics, Inc. equity		2,927,020		2,604,839		60,235		(2,665,074)		2,927,020
Noncontrolling interests		-		-		(149,561)		-		(149,561)
Total equity		2,927,020		2,604,839		(89,326)		(2,665,074)		2,777,459
Total liabilities and equity	$	5,297,455	$	4,311,664	$	360,761	$	(3,546,148)	$	6,423,732

Schedule of Condensed Consolidating Statements of Operations

Condensed Consolidating Statements of Operations (in thousands)
					Combined		Consolidating		Total
For the year ended December 31, 2017	Parent		Guarantors		Non-Guarantors		Adjustments		Consolidated
Net sales	$	3,702,597	$	10,366,526	$	597,789	$	(5,128,115)	$	9,538,797
Costs of goods sold		2,994,257		9,399,996		577,205		(5,014,675)		7,956,783
Gross profit		708,340		966,530		20,584		(113,440)		1,582,014
Selling, general and administrative		221,736		293,161		20,493		(20,257)		515,133
Operating income (loss)		486,604		673,369		91		(93,183)		1,066,881
Interest expense, net of capitalized interest		73,521		57,622		12,901		(9,645)		134,399
Other (income) expense, net		(2,305)		(9,937)		(156)		9,645		(2,753)
Income (loss) before income taxes and
equity in net income of subsidiaries		415,388		625,684		(12,654)		(93,183)		935,235
Income taxes (benefit)		(69,961)		226,327		5,266		(32,193)		129,439
		485,349		399,357		(17,920)		(60,990)		805,796
Equity in net income of subsidiaries		327,392		-		-		(327,392)		-
Net loss attributable to noncontrolling interests		-		-		6,945		-		6,945
Net income (loss) attributable to Steel Dynamics, Inc.	$	812,741	$	399,357	$	(10,975)	$	(388,382)	$	812,741

					Combined		Consolidating		Total
For the year ended December 31, 2016	Parent		Guarantors		Non-Guarantors		Adjustments		Consolidated
Net sales	$	3,037,801	$	8,356,727	$	388,071	$	(4,005,490)	$	7,777,109
Costs of goods sold		2,428,863		7,522,791		390,313		(3,899,722)		6,442,245
Gross profit (loss)		608,938		833,936		(2,242)		(105,768)		1,334,864
Selling, general and administrative		196,442		281,071		16,103		(19,557)		474,059
Asset impairment charges		12,700		5,500		116,445		(1,806)		132,839
Operating income (loss)		399,796		547,365		(134,790)		(84,405)		727,966
Interest expense, net of capitalized interest		71,182		72,420		10,874		(8,439)		146,037
Other (income) expense, net		14,200		(5,363)		520		8,439		17,796
Income (loss) before income taxes and
equity in net loss of subsidiaries		314,414		480,308		(146,184)		(84,405)		564,133
Income taxes (benefit)		69,454		180,990		(15,825)		(30,492)		204,127
		244,960		299,318		(130,359)		(53,913)		360,006
Equity in net loss of subsidiaries		137,155		-		-		(137,155)		-
Net loss attributable to noncontrolling interests		-		-		22,109		-		22,109
Net income (loss) attributable to Steel Dynamics, Inc.	$	382,115	$	299,318	$	(108,250)	$	(191,068)	$	382,115

Note 14.  Condensed Consolidating Information (Continued)

					Combined		Consolidating		Total
For the year ended December 31, 2015	Parent		Guarantors		Non-Guarantors		Adjustments		Consolidated
Net sales	$	2,908,904	$	8,132,043	$	361,944	$	(3,808,480)	$	7,594,411
Costs of goods sold		2,515,621		7,646,411		420,281		(3,719,620)		6,862,693
Gross profit (loss)		393,283		485,632		(58,337)		(88,860)		731,718
Selling, general and administrative		128,929		254,106		11,893		(18,926)		376,002
Asset impairment charges		-		428,500		-		-		428,500
Operating income (loss)		264,354		(196,974)		(70,230)		(69,934)		(72,784)
Interest expense, net of capitalized interest		75,457		76,009		6,969		(4,485)		153,950
Other (income) expense, net		13,970		332		(3,404)		4,485		15,383
Income (loss) before income taxes and
equity in net loss of subsidiaries		174,927		(273,315)		(73,795)		(69,934)		(242,117)
Income taxes (benefit)		(124,626)		61,571		(4,627)		(29,265)		(96,947)
		299,553		(334,886)		(69,168)		(40,669)		(145,170)
Equity in net loss of subsidiaries		(429,864)		-		-		429,864		-
Net loss attributable to noncontrolling interests		-		-		14,859		-		14,859
Net income (loss) attributable to Steel Dynamics, Inc.	$	(130,311)	$	(334,886)	$	(54,309)	$	389,195	$	(130,311)

Schedule of Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows (in thousands)
					Combined		Consolidating		Total
For the year ended December 31, 2017	Parent		Guarantors		Non-Guarantors		Adjustments		Consolidated
Net cash provided by (used in) operating activities	$	171,300	$	594,279	$	(31,719)	$	5,746	$	739,606
Net cash used in investing activities		(62,534)		(73,021)		(8,301)		4,751		(139,105)
Net cash provided by (used in) financing activities		125,954		(555,494)		26,702		(10,497)		(413,335)
Increase (decrease) in cash and equivalents		234,720		(34,236)		(13,318)		-		187,166
Cash and equivalents at beginning of period		766,685		54,677		20,121		-		841,483
Cash and equivalents at end of period	$	1,001,405	$	20,441	$	6,803	$	-	$	1,028,649

					Combined		Consolidating		Total
For the year ended December 31, 2016	Parent		Guarantors		Non-Guarantors		Adjustments		Consolidated
Net cash provided by operating activities	$	326,216	$	517,699	$	6,057	$	2,797	$	852,769
Net cash used in investing activities		(161,043)		(140,027)		(9,578)		(2,245)		(312,893)
Net cash provided by (used in) financing activities		(35,365)		(404,971)		15,463		(552)		(425,425)
Increase (decrease) in cash and equivalents		129,808		(27,299)		11,942		-		114,451
Cash and equivalents at beginning of period		636,877		81,976		8,179		-		727,032
Cash and equivalents at end of period	$	766,685	$	54,677	$	20,121	$	-	$	841,483

Note 14.  Condensed Consolidating Information (Continued)

					Combined		Consolidating		Total
For the year ended December 31, 2015	Parent		Guarantors		Non-Guarantors		Adjustments		Consolidated
Net cash provided by operating activities	$	436,012	$	594,437	$	19,388	$	3,788	$	1,053,625
Net cash used in investing activities		(64,457)		(82,751)		(15,703)		20,284		(142,627)
Net cash provided by (used in) financing activities		9		(511,400)		(9,866)		(24,072)		(545,329)
Increase (decrease) in cash and equivalents		371,564		286		(6,181)		-		365,669
Cash and equivalents at beginning of period		265,313		81,690		14,360		-		361,363
Cash and equivalents at end of period	$	636,877	$	81,976	$	8,179	$	-	$	727,032