Restricted Cash and Investments

3 Months Ended

Mar. 30, 2013

RESTRICTED CASH AND INVESTMENTS: As of March 30, 2013, restricted cash consisted of net proceeds from $600.0 million 30-year variable rate Gulf Opportunity Zone bonds issued in November 2010. The restricted cash is held in a trust account and is to be used to partially fund the capital costs associated with the construction of Nucor’s direct reduced ironmaking facility in St. James Parish, Louisiana. Funds are disbursed as qualified expenditures for the construction of the facility are made ($128.7 million in the first quarter of 2013 and none in the first quarter of 2012). There were no restricted investments held as of March 30, 2013 ($149.8 million at December 31, 2012). Since the restricted cash must be used for the construction of the facility, the entire balance has been classified as a non-current asset.