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 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, steel grating and expanded metal, and wire and wire mesh. The raw materials segment includes The David J. Joseph Company, 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. Certain amounts for prior years have been reclassified to conform to the 2012 presentation.

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


	Three Months (13 Weeks) Ended
	March 31, 2012			April 2, 2011
Net sales to external customers:
Steel mills	$	3,626,139		$	3,448,197
Steel products		842,245			732,139
Raw materials		482,208			527,463
All other		122,002			126,135

	$	5,072,594		$	4,833,934

Intercompany sales:
Steel mills	$	617,644		$	584,613
Steel products		16,786			10,014
Raw materials		2,882,231			2,777,606
All other		2,604			6,425
Corporate/eliminations		(3,519,265	)		(3,378,658	)

	$	—		$	—

Earnings (loss) before income taxes and noncontrolling interests:
Steel mills	$	390,292		$	402,881
Steel products		(33,044	)		(35,895	)
Raw materials		14,572			60,254
All other		(569	)		3,203
Corporate/eliminations		(146,189	)		(164,188	)

	$	225,062		$	266,255


	March 31, 2012			Dec. 31, 2011
Segment assets:
Steel mills	$	6,680,986		$	6,440,868
Steel products		2,938,885			2,903,281
Raw materials		3,032,485			2,925,651
All other		205,872			152,107
Corporate/eliminations		1,956,237			2,148,443

	$	14,814,465		$	14,570,350