Stockholders' Equity

3 Months Ended

Apr. 01, 2023

Equity [Abstract]

Stockholders' Equity

12. Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity attributable to Nucor and the noncontrolling interests of Nucor’s joint ventures, Nucor-Yamato Steel Company (Limited Partnership) (“NYS”) and California Steel Industries, Inc. (“CSI”), in both of which Nucor owns 51%, for the three months ended April 1, 2023 and April 2, 2022 (in thousands):

				Three Months (13 Weeks) Ended April 1, 2023
														Accumulated									Total
								Additional						Other			Treasury Stock						Nucor
				Common Stock				Paid-in			Retained			Comprehensive			(at cost)						Stockholders'			Noncontrolling
	Total			Shares		Amount		Capital			Earnings			Income (Loss)			Shares			Amount			Equity			Interests
BALANCES, December 31, 2022	$	19,569,906			380,154	$	152,061	$	2,143,520		$	24,754,873		$	(137,517	)		126,661		$	(8,498,243	)	$	18,414,694		$	1,155,212
Net earnings before noncontrolling interests		1,231,629			-		-		-			1,136,542			-			-			-			1,136,542			95,087
Other comprehensive income (loss)		(27,841	)		-		-		-			-			(27,841	)		-			-			(27,841	)		-
Stock options exercised		7,123			-		-		(1,749	)		-			-			(131	)		8,872			7,123			-
Stock option expense		475			-		-		475			-			-			-			-			475			-
Issuance of stock under award plans,    net of forfeitures		43,820			-		-		24,760			-			-			(323	)		19,060			43,820			-
Amortization of unearned    compensation		1,764			-		-		1,764			-			-			-			-			1,764			-
Treasury stock acquired, and net impact of excise tax		(429,813	)		-		-		-			-			-			2,723			(429,813	)		(429,813	)		-
Cash dividends declared		(129,383	)		-		-		-			(129,383	)		-			-			-			(129,383	)		-
Distributions to noncontrolling    interests		(337,810	)		-		-		-			-			-			-			-			-			(337,810	)
BALANCES, April 1, 2023	$	19,929,870			380,154	$	152,061	$	2,168,770		$	25,762,032		$	(165,358	)		128,930		$	(8,900,124	)	$	19,017,381		$	912,489

				Three Months (13 Weeks) Ended April 2, 2022
														Accumulated									Total
								Additional						Other			Treasury Stock						Nucor
				Common Stock				Paid-in			Retained			Comprehensive			(at cost)						Stockholders'			Noncontrolling
	Total			Shares		Amount		Capital			Earnings			Income (Loss)			Shares			Amount			Equity			Interests
BALANCES, December 31, 2021	$	14,603,794			380,154	$	152,061	$	2,140,608		$	17,674,100		$	(115,282	)		107,742		$	(5,835,098	)	$	14,016,389		$	587,405
Net earnings before noncontrolling interests		2,227,115			-		-		-			2,095,623			-			-			-			2,095,623			131,492
Other comprehensive income (loss)		70,778			-		-		-			-			70,778			-			-			70,778			-
Stock options exercised		16,586			-		-		(507	)		-			-			(310	)		17,093			16,586			-
Stock option expense		458			-		-		458			-			-			-			-			458			-
Issuance of stock under award plans,    net of forfeitures		43,098			-		-		21,170			-			-			(388	)		21,928			43,098			-
Amortization of unearned    compensation		1,400			-		-		1,400			-			-			-			-			1,400			-
Treasury stock acquired		(905,324	)		-		-		-			-			-			7,048			(905,324	)		(905,324	)		-
Cash dividends declared		(134,446	)		-		-		-			(134,446	)		-			-			-			(134,446	)		-
Distributions to noncontrolling    interests		(211,558	)		-		-		-			-			-			-			-			-			(211,558	)
Acquisition of noncontrolling interest in CSI		431,219			-		-		-			-			-			-			-			-			431,219
BALANCES, April 2, 2022	$	16,143,120			380,154	$	152,061	$	2,163,129		$	19,635,277		$	(44,504	)		114,092		$	(6,701,401	)	$	15,204,562		$	938,558

Dividends declared per share were $0.51 per share in the first quarter of 2023 ($0.50 per share in the first quarter of 2022).

On December 2, 2021, the Company announced that its Board of Directors had approved a share repurchase program under which the Company is authorized to repurchase up to $4.00 billion of the Company’s common stock and terminated all previously authorized share repurchase programs. Share repurchases will be made from time to time in the open market at prevailing market prices or through private transactions or block trades. The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements and other factors. The share repurchase authorization is discretionary and has no expiration date. As of April 1, 2023, the Company had approximately $661.1 million available for share repurchases under the program authorized by the Company’s Board of Directors in December 2021.