17.

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 foundation distributors; 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 and Nucor Steel Louisiana, two facilities that produce DRI used by the steel mills; our natural gas working interests; and Nucor’s equity method investment in Hunter Ridge. 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.

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, 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
	April 5, 2014			March 30, 2013
Net sales to external customers:
Steel mills	$	3,607,764		$	3,268,154
Steel products		874,169			789,347
Raw materials		626,511			493,271

	$	5,108,444		$	4,550,772

Intercompany sales:
Steel mills	$	708,866		$	632,720
Steel products		21,500			19,272
Raw materials		2,528,006			2,163,488
Corporate/eliminations		(3,258,372	)		(2,815,480	)

	$	—		$	—

Earnings (loss) before income taxes and noncontrolling interests:
Steel mills	$	317,797		$	272,258
Steel products		1,720			(11,924	)
Raw materials		8,359			1,536
Corporate/eliminations		(120,375	)		(108,542	)

	$	207,501		$	153,328


	April 5, 2014			December 31, 2013
Segment assets:
Steel mills	$	8,526,568		$	8,365,023
Steel products		2,827,821			2,861,403
Raw materials		3,982,480			3,956,913
Corporate/eliminations		(218,858	)		19,944

	$	15,118,011		$	15,203,283