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Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

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, 2020		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	1,578,252		$	126,818		$	214,951		$	94,274		$	-		$	2,014,295
External Non-U.S.			49,775			29,764			300			171			-			80,010
Other segments			71,371			260,106			3,177			-			(334,654)			-
			1,699,398			416,688			218,428			94,445			(334,654)			2,094,305
Operating income (loss)			168,043			(8,715)			27,155			(32,089)	⁽¹⁾		4,456	⁽²⁾		158,850
Income (loss) before income taxes			151,012			(12,654)			25,959			(65,445)			4,173			103,045
Depreciation and amortization			60,686			12,170			2,737			3,128			-			78,721
Capital expenditures			301,179			3,821			2,364			2,352			-			309,716

As of June 30, 2020
Assets		$	5,533,365		$	867,866		$	397,070		$	1,718,951	⁽³⁾	$	(48,911)	⁽⁴⁾	$	8,468,341


Footnotes related to the three months ended June 30, 2020, segment results (in millions):

(1)	Corporate SG&A	$	(14.5)		(2)	Gross profit increase from intra-company sales	$	4.5
	Company-wide equity-based compensation		(9.7)
	Profit sharing		(8.2)
	Other, net		0.3
		$	(32.1)

(3)	Cash and equivalents	$	1,418.4		(4)	Elimination of intra-company receivables	$	(35.5)
	Short-term investments		69.5			Elimination of intra-company debt		(6.5)
	Accounts receivable		11.4			Other		(6.9)
	Inventories		26.9				$	(48.9)
	Property, plant and equipment, net		148.2
	Intra-company debt		6.5
	Other		38.1
		$	1,719.0



					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


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)



					Metals			Steel
For the six months ended		Steel			Recycling			Fabrication
June 30, 2020		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	3,438,837		$	361,651		$	435,886		$	214,616		$	-		$	4,450,990
External Non-U.S.			130,896			86,788			300			431			-			218,415
Other segments			145,817			596,988			3,683			88			(746,576)			-
			3,715,550			1,045,427			439,869			215,135			(746,576)			4,669,405
Operating income (loss)			456,437			(3,187)			56,318			(78,444)	⁽¹⁾		1,412	⁽²⁾		432,536
Income (loss) before income taxes			424,567			(8,349)			53,877			(119,685)			891			351,301
Depreciation and amortization			123,113			24,142			5,485			6,240			-			158,980
Capital expenditures			494,452			22,044			6,453			4,302			-			527,251


Footnotes related to the six months ended June 30, 2020, segment results (in millions):

(1)	Corporate SG&A	$	(31.7)		(2)	Gross profit increase from intra-company sales	$	1.4
	Company-wide equity-based compensation		(17.9)
	Profit sharing		(29.5)
	Other, net		0.7
		$	(78.4)



					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)