SEGMENTS

6 Months Ended

Jun. 30, 2012

SEGMENTS

17. 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						Six Months (26 Weeks) Ended
	June 30, 2012			July 2, 2011			June 30, 2012			July 2, 2011
Net sales to external customers:
Steel mills	$	3,476,661		$	3,569,786		$	7,102,800		$	7,017,983
Steel products		991,444			875,365			1,833,689			1,607,504
Raw materials		497,604			555,545			979,812			1,083,008
All other		138,490			107,113			260,492			233,248
	$	5,104,199		$	5,107,809		$	10,176,793		$	9,941,743
Intercompany sales:
Steel mills	$	698,565		$	632,055		$	1,316,209		$	1,216,668
Steel products		18,993			14,233			35,779			24,247
Raw materials		2,479,148			2,697,521			5,361,379			5,475,127
All other		8,190			9,926			10,794			16,351
Corporate/eliminations		(3,204,896	)		(3,353,735	)		(6,724,161	)		(6,732,393	)
	$	—		$	—		$	—		$	—
Earnings (loss) before income taxes and noncontrolling interests:
Steel mills	$	336,096		$	645,719		$	726,388		$	1,048,600
Steel products		9,202			(10,010	)		(23,842	)		(45,905	)
Raw materials		15,116			53,835			29,688			114,089
All other		412			1,074			(157	)		4,277
Corporate/eliminations		(144,633	)		(213,331	)		(290,822	)		(377,519	)
	$	216,193		$	477,287		$	441,255		$	743,542
	June 30, 2012			Dec. 31, 2011
Segment assets:
Steel mills	$	8,021,836		$	6,440,868
Steel products		2,979,680			2,903,281
Raw materials		3,050,833			2,925,651
All other		188,256			152,107
Corporate/eliminations		525,961			2,148,443
	$	14,766,566		$	14,570,350