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Segment Information (Tables)

9 Months Ended

Sep. 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
September 30, 2019		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	1,838,682		$	230,086		$	245,914		$	77,330		$	-		$	2,392,012
External Non-U.S.			83,845			50,823			165			-			-			134,833
Other segments			85,678			293,999			637			100			(380,414)			-
			2,008,205			574,908			246,716			77,430			(380,414)			2,526,845
Operating income (loss)			234,683			(101)			35,280			(42,441)	⁽¹⁾		624	⁽²⁾		228,045
Income (loss) before income taxes			217,699			(1,159)			34,080			(49,780)			411			201,251
Depreciation and amortization			63,170			11,769			2,941			1,590			-			79,470
Capital expenditures			40,818			11,498			3,759			98,056			-			154,131

As of September 30, 2019
Assets		$	5,119,419		$	972,493		$	414,835		$	1,513,798	⁽³⁾	$	(77,298)	⁽⁴⁾	$	7,943,247


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

(1)	Corporate SG&A	$	(15.4)		(2)	Gross profit increase from intra-company sales	$	0.4
	Company-wide equity-based compensation		(8.7)
	Profit sharing		(17.0)
	Other, net		(1.3)
		$	(42.4)

(3)	Cash and equivalents	$	1,072.5		(4)	Elimination of intra-company receivables	$	(61.2)
	Short-term investments		69.5			Elimination of intra-company debt		(8.7)
	Accounts receivable		7.8			Other		(7.4)
	Inventories		36.5				$	(77.3)
	Property, plant and equipment, net		271.8
	Intra-company debt		8.7
	Other		47.0
		$	1,513.8

Note 10. Segment Information (Continued)



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

Net sales - disaggregated revenue
External		$	2,400,329		$	323,611		$	250,625		$	110,659		$	-		$	3,085,224
External Non-U.S.			74,715			63,608			-			-			-			138,323
Other segments			111,582			412,795			120			1,294			(525,791)			-
			2,586,626			800,014			250,745			111,953			(525,791)			3,223,547
Operating income (loss)			573,848			14,674			13,104			(67,113)	⁽¹⁾		(2,941)			531,572
Income (loss) before income taxes			557,870			13,488			11,801			(73,109)			(2,935)	⁽²⁾		507,115
Depreciation and amortization			64,088			11,491			2,941			2,863			-			81,383
Capital expenditures			57,074			11,603			1,395			596			-			70,668


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

(1)	Corporate SG&A	$	(13.8)		(2)	Gross profit decrease from intra-company sales	$	(2.9)
	Company-wide equity-based compensation		(7.8)
	Profit sharing		(43.4)
	Other, net		(2.1)
		$	(67.1)



					Metals			Steel
For the nine months ended		Steel			Recycling			Fabrication
September 30, 2019		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	5,918,189		$	778,637		$	714,782		$	290,219		$	-		$	7,701,827
External Non-U.S.			235,259			176,508			1,201			-			-			412,968
Other segments			243,107			1,013,574			826			469			(1,257,976)			-
			6,396,555			1,968,719			716,809			290,688			(1,257,976)			8,114,795
Operating income (loss)			835,172			24,480			86,567			(148,514)	⁽¹⁾		7,214			804,919
Income (loss) before income taxes			784,873			20,846			82,897			(169,914)			6,572	⁽²⁾		725,274
Depreciation and amortization			188,832			34,733			8,882			8,108			-			240,555
Capital expenditures			128,069			30,313			8,771			126,534			-			293,687


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

(1)	Corporate SG&A	$	(56.0)		(2)	Gross profit increase from intra-company sales	$	6.6
	Company-wide equity-based compensation		(26.1)
	Profit sharing		(61.3)
	Other, net		(5.1)
		$	(148.5)

Note 10. Segment Information (Continued)



					Metals			Steel
For the nine months ended		Steel			Recycling			Fabrication
September 30, 2018		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	6,360,177		$	1,001,267		$	669,500		$	326,086		$	-		$	8,357,030
External Non-U.S.			362,083			198,778			56			-			-			560,917
Other segments			281,828			1,236,830			788			1,565			(1,521,011)			-
			7,004,088			2,436,875			670,344			327,651			(1,521,011)			8,917,947
Operating income (loss)			1,441,904			62,027			47,039			(186,137)	⁽¹⁾		(7,977)			1,356,856
Income (loss) before income taxes			1,390,074			57,458			42,898			(203,970)			(7,971)	⁽²⁾		1,278,489
Depreciation and amortization			184,998			34,602			8,785			8,253			-			236,638
Capital expenditures			137,484			27,496			5,526			5,971			-			176,477


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

(1)	Corporate SG&A	$	(44.0)		(2)	Gross profit decrease from intra-company sales	$	(8.0)
	Company-wide equity-based compensation		(24.8)
	Profit sharing		(109.6)
	Other, net		(7.7)
		$	(186.1)