18.

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; steel trading businesses; rebar distribution businesses; and Nucor’s equity method 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 DJJ, a scrap broker and processor; Nu-Iron Unlimited, a facility that produces DRI used by the steel mills; a DRI facility under construction in Louisiana; our natural gas working interests; and Nucor’s equity method investment in Hunter Ridge. Previously Nucor’s steel trading businesses and rebar distribution businesses were reported in an “All other” category. Beginning in the first quarter of 2013, these businesses were reclassified to the steel mills segment as part of a realignment of Nucor’s reportable segments to better reflect the way in which they are managed. The segment data for the comparable period has also been reclassified into the steel mills segment in order to conform to the current year presentation. The steel mills, steel products and raw materials 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. Additionally, the composition of assets by segment at December 31, 2012 was reclassified during the third quarter of 2013 to conform with the current quarter presentation. This reclassification between segments did not have any impact on the consolidated asset balances.

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, fair value of natural gas hedges, deferred income tax assets, federal and state income taxes receivable, the LIFO reserve and investments in and advances to affiliates.

Nucor’s results by segment were as follows (in thousands):

Three Months (13 Weeks) Ended

Nine Months (39 Weeks) Ended

Sept. 28, 2013

Sept. 29, 2012

Sept. 28, 2013

Sept. 29, 2012

Net sales to external customers:

Steel mills

3,435,884

3,319,518

9,901,471

10,682,810

Steel products

964,153

1,006,366

2,690,604

2,840,055

Raw materials

540,899

475,322

1,565,221

1,455,134

4,940,936

4,801,206

14,157,296

14,977,999

Intercompany sales:

Steel mills

652,077

670,876

1,924,222

1,997,879

Steel products

24,909

17,179

75,036

52,958

Raw materials

2,391,502

2,080,150

6,738,485

7,441,529

Corporate/eliminations

(3,068,488

)

(2,768,205

)

(8,737,743

)

(9,492,366

)

—

Earnings (loss) before income taxes and noncontrolling interests:

Steel mills

310,591

218,367

819,951

944,598

Steel products

31,018

(10,252

)

51,167

(34,094

)

Raw materials

(493

)

14,535

13,261

44,223

Corporate/eliminations

(92,914

)

(30,875

)

(330,517

)

(321,697

)

248,202

191,775

553,862

633,030

Sept. 28, 2013

Dec. 31, 2012

Segment assets:

Steel mills

8,137,612

7,894,974

Steel products

2,986,752

2,935,146

Raw materials

3,746,813

3,400,690

Corporate/eliminations

220,599

(78,751

)

15,091,776

14,152,059