Segments

9 Months Ended

Oct. 01, 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; a DRI facility under construction in Louisiana; 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 and investments, 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						Nine Months (39 Weeks) Ended
	October 1, 2011			October 2, 2010			October 1, 2011			October 2, 2010
Net sales to external customers:
Steel mills	$	3,617,867		$	2,798,419		$	10,635,850		$	8,285,773
Steel products		958,224			794,289			2,565,728			2,093,017
Raw materials		535,948			463,515			1,618,956			1,364,340
All other		140,105			83,846			373,353			247,747
	$	5,252,144		$	4,140,069		$	15,193,887		$	11,990,877
Intercompany sales:
Steel mills	$	599,005		$	451,792		$	1,815,673		$	1,255,562
Steel products		14,444			12,351			38,691			33,533
Raw materials		2,572,705			1,839,956			8,047,832			6,156,283
All other		4,742			2,248			21,093			6,988
Corporate/eliminations		(3,190,896	)		(2,306,347	)		(9,923,289	)		(7,452,366	)
	$	—		$	—		$	—		$	—
Earnings (loss) before income taxes and noncontrolling interests:
Steel mills	$	436,196		$	231,803		$	1,375,614		$	652,450
Steel products		(10,527	)		(40,826	)		(56,432	)		(143,817	)
Raw materials		22,481			7,444			131,761			93,997
All other		737			(613	)		5,014			3,955
Corporate/eliminations		(164,672	)		(139,802	)		(428,200	)		(328,970	)
	$	284,215		$	58,006		$	1,027,757		$	277,615
	October 1, 2011			Dec. 31, 2010
Segment assets:
Steel mills	$	6,399,240		$	5,969,846
Steel products		3,020,188			2,835,812
Raw materials		2,944,040			2,710,544
All other		173,609			170,174
Corporate/eliminations		2,270,188			2,235,534
	$	14,807,265		$	13,921,910