Restricted Cash and Investments

9 Months Ended

Sep. 28, 2013

RESTRICTED CASH AND INVESTMENTS: As of September 28, 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 fund part of the capital costs associated with the construction of Nucor’s direct reduced iron making facility in St. James Parish, Louisiana. Funds are disbursed as qualified expenditures for the construction of the facility are made ($274.9 million and $172.6 million in the first nine months of 2013 and 2012, respectively). There were no restricted investments held as of September 28, 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.