FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 29, 2012

FAIR VALUE MEASUREMENTS

10. FAIR VALUE MEASUREMENTS: The following table summarizes information regarding Nucor’s financial assets and financial liabilities that are measured at fair value as of September 29, 2012 and December 31, 2011 (in thousands). Nucor does not currently have any non-financial assets or liabilities that are measured at fair value on a recurring basis.

				Fair Value Measurements at Reporting Date Using
Description	Carrying Amount in Condensed Consolidated Balance Sheets			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
As of September 29, 2012
Assets:
Cash equivalents	$	1,519,075		$	1,519,075	$	—		$	—
Short-term investments		430,266			430,266		—			—
Restricted cash and investments		414,203			414,203		—			—
Total assets	$	2,363,544		$	2,363,544	$	—		$	—
Liabilities:
Foreign exchange and commodity contracts	$	(1,340	)	$	—	$	(1,340	)	$	—
As of December 31, 2011
Assets:
Cash equivalents	$	1,012,122		$	1,012,122	$	—		$	—
Short-term investments		1,362,641			1,362,641		—			—
Commodity contracts		5,071			—		5,071			—
Restricted cash and investments		585,833			585,833		—			—
Total assets	$	2,965,667		$	2,960,596	$	5,071		$	—
Liabilities:
Foreign exchange and commodity contracts	$	(21,434	)	$	—	$	(21,434	)	$	—

Fair value measurements for Nucor’s cash equivalents, short-term investments and restricted cash and investments are classified under Level 1 because such measurements are based on quoted market prices in active markets for identical assets. Our short-term investments are held in similar short-term investment instruments as described in Note 4 to Nucor’s annual report for the year ended December 31, 2011. Fair value measurements for Nucor’s derivatives are classified under Level 2 because such measurements are based on published market prices for similar assets or are estimated based on observable inputs such as interest rates, yield curves, credit risks, spot and future commodity prices, and spot and future exchange rates.

The fair value of short-term and long-term debt, including current maturities, was approximately $4.89 billion at September 29, 2012 ($4.76 billion at December 31, 2011). The debt fair value estimates are classified under Level 2 because such estimates are based on readily available market prices of our debt at September 29, 2012 and December 31, 2011, or similar debt with the same maturities, rating and interest rates.