Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Values of Derivative Financial Instruments

The following tables summarize information regarding Nucor’s derivative financial instruments (in thousands):

		Fair Value at
		December 31,
Fair Value of Derivative Financial    Instruments	Consolidated Balance Sheet Location	2023			2022
Asset derivatives designated    as hedging instruments:
Commodity contracts	Other current assets	$	—		$	17,200
Commodity contracts	Other assets		—			17,200
Total asset derivatives		$	—		$	34,400
Liability derivatives designated    as hedging instruments:
Commodity contracts	Accrued expenses and other current liabilities	$	(14,700	)	$	—
Commodity contracts	Deferred credits and other liabilities		(3,600	)		—
Total liability derivatives    designated as hedging    instruments			(18,300	)		—
Liability derivatives not designated    as hedging instruments:
Commodity contracts	Accrued expenses and other current liabilities		(4,382	)		(501	)
Foreign exchange contracts	Accrued expenses and other current liabilities		(529	)		(869	)
Total liability derivatives not    designated as hedging    instruments			(4,911	)		(1,370	)
Total liability derivatives		$	(23,211	)	$	(1,370	)

Derivatives Designated as Hedging Instrument [Member]

Effect of Derivatives Financial Instruments on Consolidated Statements of Earnings

The Effect of Derivative Financial Instruments on the Consolidated Statements of Earnings

Derivatives Designated as Hedging Instruments for the Year Ended December 31, (in thousands)
									Amount of Gain or
									(Loss), Net of Tax,
		Amount of Gain or (Loss),							Reclassified from							Amount of Gain or (Loss),
	Statement of	Net of Tax, Recognized							Accumulated OCI into							Net of Tax, Recognized
Derivatives in Cash Flow	Earnings	in OCI on Derivatives							Earnings on Derivatives							in Earnings on Derivatives
Hedging Relationships	Location	(Effective Portion)							(Effective Portion)							(Ineffective Portion)
		2023			2022		2021		2023			2022		2021		2023		2022		2021
Commodity contracts	Cost of products sold	$	(52,077	)	$	76,542	$	15,112	$	(12,077	)	$	51,554	$	9,300	$	—	$	—	$	—

Derivatives Not Designated as Hedging Instrument [Member]

Effect of Derivatives Financial Instruments on Consolidated Statements of Earnings

Derivatives Not Designated as Hedging Instruments for the Year Ended December 31, (in thousands)
		Amount of Gain or (Loss)
Derivatives Not Designated	Statement of Earnings	Recognized in Earnings on
as Hedging Instruments	Location	Derivatives
		2023			2022		2021
Commodity contracts	Cost of products sold	$	3,300		$	3,311	$	(27,777	)
Foreign exchange contracts	Cost of products sold		(856	)		11,641		8,114
Total		$	2,444		$	14,952	$	(19,663	)