Fair Value Measurements

3 Months Ended

Mar. 30, 2013

Fair Value Measurements

9. FAIR VALUE MEASUREMENTS: The following table summarizes information regarding Nucor’s financial assets and financial liabilities that are measured at fair value as of March 30, 2013 and December 31, 2012 (in thousands). Nucor does not currently have any non-financial assets or liabilities that are measured at fair value on a recurring basis.

Description	Carrying Amount in Condensed Consolidated Balance Sheets			Fair Value Measurements at Reporting Date Using
				Quoted Prices in Active Markets for Identical Assets (Level  1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
As of March 30, 2013
Assets:
Cash equivalents	$	546,607		$	546,607	$	—		$	—
Short-term investments		29,503			29,503		—			—
Restricted cash		146,573			146,573		—			—
Foreign exchange and commodity contracts		1,646			—		1,646			—
Total assets	$	724,329		$	722,683	$	1,646		$	—
As of December 31, 2012
Assets:
Cash equivalents	$	830,011		$	830,011	$	—		$	—
Short-term investments		104,167			104,167		—			—
Commodity contracts		—			—		—			—
Restricted cash and investments		275,163			275,163		—			—
Total assets	$	1,209,341		$	1,209,341	$	—		$	—
Liabilities:
Foreign exchange and commodity contracts	$	(318	)	$	—	$	(318	)	$	—

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, 2012. 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 $4.16 billion at March 30, 2013 ($4.24 billion at December 31, 2012). The debt fair value estimates are classified under Level 2 because such estimates are based on readily available market prices of our debt at March 30, 2013 and December 31, 2012, or similar debt with the same maturities, rating and interest rates.