Segments

6 Months Ended

Jul. 02, 2011

Segments

Segments

16. SEGMENTS: Nucor reports its results in the following segments: steel mills, steel products and raw materials. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate, and Nucor's equity method investments in Duferdofin Nucor and NuMit. The steel products segment includes steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems, light gauge steel framing, steel grating and expanded metal, and wire and wire mesh. The raw materials segment includes The David J. Joseph Company ("DJJ"), a scrap broker and processor; Nu-Iron Unlimited, a facility that produces direct reduced iron ("DRI") used by the steel mills; the planned DRI facility; and certain equity method investments. The "All other" category primarily includes Nucor's steel trading businesses. The segments are consistent with the way Nucor manages its business, which is primarily based upon the similarity of the types of products produced and sold by each segment.

Net interest expense, other income, profit sharing expense, stock-based compensation and changes in the LIFO reserve are shown under Corporate/eliminations. Corporate assets primarily include cash and cash equivalents, short-term investments, restricted cash, allowances to eliminate intercompany profit in inventory, fair value of natural gas hedges, deferred income tax assets, federal income taxes receivable, the LIFO reserve and investments in and advances to affiliates.

The company's results by segment were as follows (in thousands):

Three Months (13 Weeks) Ended

Six Months (26 Weeks) Ended

July 2, 2011

July 3, 2010

July 2, 2011

July 3, 2010

Net sales to external customers:

Steel mills

$

3,569,786

$

2,875,338

$

7,017,983

$

5,487,354

Steel products

875,365

737,693

1,607,504

1,298,728

Raw materials

555,545

504,080

1,083,008

900,825

All other

107,113

78,855

233,248

163,901

$

5,107,809

$

4,195,966

$

9,941,743

$

7,850,808

Intercompany sales:

Steel mills

$

632,055

$

437,019

$

1,216,668

$

803,770

Steel products

14,233

12,106

24,247

21,182

Raw materials

2,697,521

2,390,344

5,475,127

4,316,327

All other

9,926

2,813

16,351

4,740

Corporate/eliminations

(3,353,735

) 

(2,842,282

) 

(6,732,393

) 

(5,146,019

) 

$

—  

$

—  

$

—  

$

—  

Earnings (loss) before income taxes and noncontrolling interests:

Steel mills

$

626,840

$

262,147

$

939,418

$

420,647

Steel products

(10,010

) 

(35,295

) 

(45,905

) 

(102,991

) 

Raw materials

51,922

53,769

109,280

86,553

All other

1,074

1,830

4,277

4,568

Corporate/eliminations

(192,539

) 

(126,878

) 

(263,528

) 

(189,168

) 

$

477,287

$

155,573

$

743,542

$

219,609

	July 2, 2011		Dec. 31, 2010
Segment assets:
Steel mills	$	6,557,391	$	5,969,846
Steel products		3,025,989		2,835,812
Raw materials		2,891,957		2,710,544
All other		166,908		170,174
Corporate/eliminations		2,091,304		2,235,534
	$	14,733,549	$	13,921,910