XML 45 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
SEGMENTS
 9 Months Ended
Sep. 29, 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, 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     Nine Months (39 Weeks) Ended  
     Sept. 29, 2012     Oct. 1, 2011     Sept. 29, 2012     Oct. 1, 2011  

Net sales to external customers:

         

Steel mills

    $ 3,204,898      $ 3,617,867      $ 10,307,698      $ 10,635,850   

Steel products

      1,006,366        958,224        2,840,055        2,565,728   

Raw materials

      475,322        535,948        1,455,134        1,618,956   

All other

      114,620        140,105        375,112        373,353   
  

 

 

    

 

 

    

 

 

    

 

 

  
   $ 4,801,206      $ 5,252,144      $ 14,977,999      $ 15,193,887   
  

 

 

    

 

 

    

 

 

    

 

 

  

Intercompany sales:

         

Steel mills

    $ 669,326      $ 599,005      $ 1,985,535      $ 1,815,673   

Steel products

      17,179        14,444        52,958        38,691   

Raw materials

      2,080,150        2,572,705        7,441,529        8,047,832   

All other

      1,550        4,742        12,344        21,093   

Corporate/eliminations

      (2,768,205 )      (3,190,896 )      (9,492,366 )      (9,923,289 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  
   $ —        $ —        $ —        $ —     
  

 

 

    

 

 

    

 

 

    

 

 

  

Earnings (loss) before income taxes and noncontrolling interests:

         

Steel mills

    $ 217,430      $ 427,723      $ 943,818      $ 1,476,323   

Steel products

      (10,252 )      (10,527 )      (34,094 )      (56,432 ) 

Raw materials

      14,535        26,263        44,223        140,352   

All other

      937        737        780        5,014   

Corporate/eliminations

      (30,875 )      (159,981 )      (321,697 )      (537,500 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  
   $ 191,775      $ 284,215      $ 633,030      $ 1,027,757   
  

 

 

    

 

 

    

 

 

    

 

 

  
     Sept. 29, 2012     Dec. 31, 2011        

Segment assets:

       

Steel mills

    $ 7,688,875      $ 6,440,868     

Steel products

      3,020,164        2,903,281     

Raw materials

      3,191,854        2,925,651     

All other

      203,429        152,107     

Corporate/eliminations

      892,925        2,148,443     
  

 

 

    

 

 

    
   $ 14,997,247      $ 14,570,350