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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Net sales        
Total net sales $ 4,587,057 $ 5,651,707 $ 14,561,893 $ 17,434,487
Costs of goods sold 3,635,038 4,187,278 11,246,894 12,304,203
Gross profit 952,019 1,464,429 3,314,999 5,130,284
Selling, general and administrative expenses 145,896 132,627 431,414 403,019
Profit sharing 64,413 105,122 224,978 373,333
Amortization of intangible assets 8,160 6,836 25,962 21,158
Operating income 733,550 1,219,844 2,632,645 4,332,774
Interest expense, net of capitalized interest 18,415 25,347 61,689 67,683
Other (income) expense, net (39,464) (13,975) (105,748) 2,472
Income before income taxes 754,599 1,208,472 2,676,704 4,262,619
Income tax expense 174,817 289,997 636,412 1,022,138
Net income 579,782 918,475 2,040,292 3,240,481
Net income attributable to noncontrolling interests (2,587) (4,150) (13,680) (12,671)
Net income attributable to Steel Dynamics, Inc. $ 577,195 $ 914,325 $ 2,026,612 $ 3,227,810
Basic earnings per share attributable to Steel Dynamics, Inc. stockholders (in dollars per share) $ 3.49 $ 5.07 $ 12.04 $ 17.33
Weighted average common shares outstanding (in shares) 165,170 180,264 168,259 186,288
Diluted earnings per share attributable to Steel Dynamics, Inc. stockholders, including the effect of assumed conversions when dilutive (in dollars per share) $ 3.47 $ 5.03 $ 11.98 $ 17.21
Weighted average common shares and share equivalents outstanding (in shares) 166,105 181,613 169,150 187,531
Dividends declared per share (in dollars per share) $ 0.425 $ 0.34 $ 1.275 $ 1.02
Unrelated parties        
Net sales        
Net Sales $ 4,408,861 $ 5,438,747 $ 14,061,569 $ 16,814,051
Related Parties        
Net sales        
Net Sales $ 178,196 $ 212,960 $ 500,324 $ 620,436