Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jul. 01, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Change in Net Carrying Amount of Goodwill by Segment

The change in the net carrying amount of goodwill for the six months ended July 1, 2023 by segment was as follows (in thousands):

	Steel Mills		Steel Products			Raw Materials		Total
Balance at December 31, 2022	$	675,186	$	2,510,045		$	734,829	$	3,920,060
Acquisitions		-		(3,740	)		-		(3,740	)
Translation		-		9,877			-		9,877
Balance at July 1, 2023	$	675,186	$	2,516,182		$	734,829	$	3,926,197

Schedule of Intangible Assets

Intangible assets with estimated useful lives of five to 25 years are amortized on a straight-line or accelerated basis and consisted of the following as of July 1, 2023 and December 31, 2022 (in thousands):

	July 1, 2023				December 31, 2022
	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Customer relationships	$	4,175,432	$	1,191,801	$	4,174,724	$	1,087,834
Trademarks and trade names		364,245		153,691		364,106		142,363
Other		109,746		98,050		109,746		96,114
	$	4,649,423	$	1,443,542	$	4,648,576	$	1,326,311