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Segment Information (Tables)

6 Months Ended

Jun. 30, 2019

Segment Information

Schedule of operating segment results

The company’s segment results, including disaggregated revenue by segment to external, external non-United States, and other segment customers, are as follows (in thousands):



					Metals			Steel
For the three months ended		Steel			Recycling			Fabrication
June 30, 2019		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	2,040,756		$	262,826		$	240,439		$	99,641		$	-		$	2,643,662
External Non-U.S.			65,595			60,273			985			-			-			126,853
Other segments			81,834			333,667			-			121			(415,622)			-
			2,188,185			656,766			241,424			99,762			(415,622)			2,770,515
Operating income (loss)			291,411			7,619			30,664			(49,153)	⁽¹⁾		4,491	⁽²⁾		285,032
Income (loss) before income taxes			274,155			6,500			29,466			(57,438)			4,277			256,960
Depreciation and amortization			63,150			11,525			2,974			3,262			-			80,911
Capital expenditures			43,575			12,173			3,019			26,353			-			85,120

As of June 30, 2019
Assets		$	5,217,650		$	987,702		$	418,023		$	1,307,873	⁽³⁾	$	(73,334)	⁽⁴⁾	$	7,857,914


Footnotes related to the three months ended June 30, 2019, segment results (in millions):

(1)	Corporate SG&A	$	(18.0)		(2)	Gross profit increase from intra-company sales	$	4.5
	Company-wide equity-based compensation		(8.4)
	Profit sharing		(21.3)
	Other, net		(1.5)
		$	(49.2)

(3)	Cash and equivalents	$	916.5		(4)	Elimination of intra-company receivables	$	(57.2)
	Short-term investments		109.2			Elimination of intra-company debt		(8.3)
	Accounts receivable		6.0			Other		(7.8)
	Inventories		35.1				$	(73.3)
	Property, plant and equipment, net		176.5
	Intra-company debt		8.3
	Other		56.3
		$	1,307.9



					Metals			Steel
For the three months ended		Steel			Recycling			Fabrication
June 30, 2018		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	2,127,545		$	347,784		$	217,438		$	122,956		$	-		$	2,815,723
External Non-U.S.			197,882			76,920			-			-			-			274,802
Other segments			110,261			459,391			458			124			(570,234)			-
			2,435,688			884,095			217,896			123,080			(570,234)			3,090,525
Operating income (loss)			533,494			22,638			14,144			(63,618)	⁽¹⁾		(4,771)	⁽²⁾		501,887
Income (loss) before income taxes			516,399			20,965			12,640			(69,828)			(4,766)			475,410
Depreciation and amortization			61,769			11,553			2,946			2,852			-			79,120
Capital expenditures			42,008			8,947			2,054			2,194			-			55,203

Note 10. Segment Information (Continued)


Footnotes related to the three months ended June 30, 2018, segment results (in millions):

(1)	Corporate SG&A	$	(14.5)		(2)	Gross profit decrease from intra-company sales	$	(4.8)
	Company-wide equity-based compensation		(8.5)
	Profit sharing		(40.6)
		$	(63.6)



					Metals			Steel
For the six months ended		Steel			Recycling			Fabrication
June 30, 2019		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	4,085,247		$	548,551		$	468,868		$	212,889		$	-		$	5,315,555
External Non-U.S.			145,674			125,685			1,036			-			-			272,395
Other segments			157,429			719,575			189			369			(877,562)			-
			4,388,350			1,393,811			470,093			213,258			(877,562)			5,587,950
Operating income (loss)			600,489			24,581			51,287			(106,073)	⁽¹⁾		6,590	⁽²⁾		576,874
Income (loss) before income taxes			567,174			22,005			48,817			(120,134)			6,161			524,023
Depreciation and amortization			125,662			22,964			5,941			6,518			-			161,085
Capital expenditures			87,251			18,815			5,012			28,478			-			139,556


Footnotes related to the six months ended June 30, 2019, segment results (in millions):

(1)	Corporate SG&A	$	(40.6)		(2)	Gross profit increase from intra-company sales	$	6.6
	Company-wide equity-based compensation		(17.4)
	Profit sharing		(44.3)
	Other, net		(3.8)
		$	(106.1)



					Metals			Steel
For the six months ended		Steel			Recycling			Fabrication
June 30, 2018		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	3,959,848		$	677,656		$	418,875		$	215,427		$	-		$	5,271,806
External Non-U.S.			287,368			135,170			56			-			-			422,594
Other segments			170,246			824,035			668			271			(995,220)			-
			4,417,462			1,636,861			419,599			215,698			(995,220)			5,694,400
Operating income (loss)			868,056			47,353			33,935			(119,024)	⁽¹⁾		(5,036)	⁽²⁾		825,284
Income (loss) before income taxes			832,204			43,970			31,097			(130,861)			(5,036)			771,374
Depreciation and amortization			120,910			23,111			5,844			5,390			-			155,255
Capital expenditures			80,410			15,893			4,131			5,375			-			105,809


Footnotes related to the six months ended June 30, 2018, segment results (in millions):

(1)	Corporate SG&A	$	(30.2)		(2)	Gross profit decrease from intra-company sales	$	(5.0)
	Company-wide equity-based compensation		(17.0)
	Profit sharing		(66.2)
	Other, net		(5.6)
		$	(119.0)