Stockholders' Equity

3 Months Ended

Mar. 30, 2024

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”), California Steel Industries, Inc. (“CSI”) and Nucor-JFE Steel Mexico, S. de R.L. de C.V. ("NJSM") - in each of which Nucor owns 51% (the third of which Nucor acquired an additional 1% interest in the fourth quarter of 2023, bringing our total equity ownership to a 51% controlling interest), for the three months ended March 30, 2024 and April 1, 2023 (in thousands):

				Three Months (13 Weeks) Ended March 30, 2024
														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, 2023	$	22,123,754			380,154	$	152,061	$	2,176,243		$	28,762,045		$	(162,072	)		135,252		$	(9,987,643	)	$	20,940,634		$	1,183,120
Net earnings before noncontrolling interests		958,962			-		-		-			844,841			-			-			-			844,841			114,121
Other comprehensive income (loss)		(15,368	)		-		-		-			-			(15,368	)		-			-			(15,368	)		-
Stock options exercised		2,688			-		-		(1,449	)		-			-			(54	)		4,137			2,688			-
Stock option expense		392			-		-		392			-			-			-			-			392			-
Issuance of stock under award plans,    net of forfeitures		59,964			-		-		33,037			-			-			(344	)		26,927			59,964			-
Amortization of unearned    compensation		2,600			-		-		2,600			-			-			-			-			2,600			-
Treasury stock acquired, and net impact of excise tax		(1,011,239	)		-		-		-			-			-			5,538			(1,011,239	)		(1,011,239	)		-
Cash dividends declared		(130,799	)		-		-		-			(130,799	)		-			-			-			(130,799	)		-
Distributions to noncontrolling    interests		(265,435	)		-		-		-			-			-			-			-			-			(265,435	)
BALANCES, March 30, 2024	$	21,725,519			380,154	$	152,061	$	2,210,823		$	29,476,087		$	(177,440	)		140,392		$	(10,967,818	)	$	20,693,713		$	1,031,806

				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

Dividends declared per share were $0.54 per share in the first quarter of 2024 ($0.51 per share in the first quarter of 2023).

On May 11, 2023, 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 are 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 March 30, 2024, the Company had approximately $2.32 billion available for share repurchases under the program authorized by the Company’s Board of Directors.