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Segments (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segments

Nucor’s results by segment were as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Net sales to external customers:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

20,092,662

 

 

$

24,189,858

 

 

$

24,145,396

 

Steel products

 

 

12,758,939

 

 

 

15,060,328

 

 

 

9,727,943

 

Raw materials

 

 

1,861,900

 

 

 

2,262,281

 

 

 

2,610,600

 

 

$

34,713,501

 

 

$

41,512,467

 

 

$

36,483,939

 

Intercompany sales:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

4,812,479

 

 

$

5,859,367

 

 

$

6,297,688

 

Steel products

 

 

455,816

 

 

 

547,219

 

 

 

360,063

 

Raw materials

 

 

12,363,577

 

 

 

13,715,176

 

 

 

15,762,685

 

Corporate/eliminations

 

 

(17,631,872

)

 

 

(20,121,762

)

 

 

(22,420,436

)

 

$

—

 

 

$

—

 

 

$

—

 

Depreciation expense:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

610,510

 

 

$

529,005

 

 

$

465,733

 

Steel products

 

 

131,189

 

 

 

115,501

 

 

 

99,248

 

Raw materials

 

 

173,657

 

 

 

171,060

 

 

 

159,886

 

Corporate

 

 

15,229

 

 

 

11,126

 

 

 

10,539

 

 

$

930,585

 

 

$

826,692

 

 

$

735,406

 

Amortization expense:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

7,829

 

 

$

7,829

 

 

$

7,829

 

Steel products

 

 

202,129

 

 

 

199,379

 

 

 

93,160

 

Raw materials

 

 

27,772

 

 

 

27,734

 

 

 

28,168

 

 

$

237,730

 

 

$

234,942

 

 

$

129,157

 

Earnings before income taxes and noncontrolling
   interests:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

3,712,470

 

 

$

7,199,087

 

 

$

9,735,020

 

Steel products

 

 

3,443,950

 

 

 

4,093,105

 

 

 

1,291,450

 

Raw materials

 

 

253,506

 

 

 

496,823

 

 

 

549,956

 

Corporate/eliminations

 

 

(1,137,169

)

 

 

(1,544,171

)

 

 

(2,375,568

)

 

$

6,272,757

 

 

$

10,244,844

 

 

$

9,200,858

 

Segment assets:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

15,407,266

 

 

$

14,157,229

 

 

$

13,235,463

 

Steel products

 

 

10,914,870

 

 

 

12,087,145

 

 

 

7,845,010

 

Raw materials

 

 

3,546,759

 

 

 

3,383,114

 

 

 

3,870,806

 

Corporate/eliminations

 

 

5,471,604

 

 

 

2,851,722

 

 

 

871,793

 

 

$

35,340,499

 

 

$

32,479,210

 

 

$

25,823,072

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

1,440,478

 

 

$

1,453,277

 

 

$

1,336,276

 

Steel products

 

 

367,170

 

 

 

267,128

 

 

 

187,152

 

Raw materials

 

 

352,642

 

 

 

181,680

 

 

 

128,765

 

Corporate

 

 

54,920

 

 

 

50,380

 

 

 

48,171

 

 

$

2,215,210

 

 

$

1,952,465

 

 

$

1,700,364

 
Schedule of Net Sale by Product to External Customers

Net sales by product were as follows (in thousands). Further product group breakdown is impracticable.

 

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Net sales to external customers:

 

 

 

 

 

 

 

 

 

Sheet

 

$

9,146,676

 

 

$

11,437,799

 

 

$

12,675,679

 

Bar

 

 

5,993,751

 

 

 

7,031,798

 

 

 

6,039,187

 

Structural

 

 

2,429,211

 

 

 

2,928,072

 

 

 

2,597,768

 

Plate

 

 

2,523,024

 

 

 

2,792,188

 

 

 

2,832,762

 

Tubular Products

 

 

1,588,211

 

 

 

1,944,532

 

 

 

2,194,732

 

Rebar Fabrication

 

 

2,181,929

 

 

 

2,205,960

 

 

 

1,794,658

 

Joist

 

 

2,211,965

 

 

 

2,958,235

 

 

 

1,351,235

 

Deck

 

 

1,712,474

 

 

 

2,392,438

 

 

 

1,167,162

 

Other Steel Products

 

 

5,064,360

 

 

 

5,559,164

 

 

 

3,220,155

 

Raw Materials

 

 

1,861,900

 

 

 

2,262,281

 

 

 

2,610,601

 

 

 

$

34,713,501

 

 

$

41,512,467

 

 

$

36,483,939