Restricted Cash and Investments

3 Months Ended

Apr. 05, 2014

Restricted Cash and Investments [Abstract]

RESTRICTED CASH AND INVESTMENTS: There were no restricted cash or investments as of April 5, 2014 or December 31, 2013. In November 2010, Nucor issued $600.0 million in 30-year Gulf Opportunity Zone bonds, the net proceeds of which were accounted for as restricted cash and investments. The restricted cash and investments were held in a trust account and were used to partially fund the capital costs associated with the construction of Nucor’s direct reduced ironmaking facility in St. James Parish, Louisiana. Funds were disbursed as qualified expenditures for the construction of the facility were made, with $128.7 million being disbursed in the first quarter of 2013. The remaining funds were disbursed over the remainder of 2013.