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

Six Months (26 Weeks) Ended

July 5, 2014

June 29, 2013

July 5, 2014

June 29, 2013

Net sales to external customers:

Steel mills

3,674,140

3,197,433

7,281,904

6,465,587

Steel products

1,035,923

937,104

1,910,092

1,726,451

Raw materials

581,012

531,051

1,207,523

1,024,322

5,291,075

4,665,588

10,399,519

9,216,360

Intercompany sales:

Steel mills

742,200

639,425

1,451,066

1,272,145

Steel products

26,542

30,855

48,042

50,127

Raw materials

2,443,492

2,183,495

4,971,498

4,346,983

Corporate/eliminations

(3,212,234

)

(2,853,775

)

(6,470,606

)

(5,669,255

)

—

Earnings (loss) before income taxes and noncontrolling interests:

Steel mills

368,138

237,102

685,935

509,360

Steel products

42,612

32,073

44,332

20,149

Raw materials

(9,635

)

12,218

(1,276

)

13,754

Corporate/eliminations

(159,250

)

(129,061

)

(279,625

)

(237,603

)

241,865

152,332

449,366

305,660

July 5, 2014

Dec. 31, 2013

Segment assets:

Steel mills

8,572,357

8,365,023

Steel products

2,999,733

2,861,403

Raw materials

3,952,359

3,956,913

Corporate/eliminations

(213,561

)

19,944

15,310,888

15,203,283