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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2014
Fair Values of Derivative Instruments

The following tables summarize information regarding Nucor’s derivative instruments (in thousands):

 

Fair Value of Derivative Instruments

        
         Fair Value at December 31,  
   

Consolidated Balance Sheet Location

    2014     2013  

Asset derivatives not designated as hedging instruments:

       

Commodity contracts

  

Other current assets

    $ 1,856      $ —     

Foreign exchange contracts

  

Other current assets

      372        —     
    

 

 

    

 

 

  

Total asset derivatives

      $ 2,228      $ —     
    

 

 

    

 

 

  

Liability derivatives designated as hedging instruments:

       

Commodity contracts

  

Accrued expenses and
other current liabilities

      (6,400 )      —     

Commodity contracts

  

Deferred credits and other liabilities

      (6,300 )      —     
    

 

 

    

 

 

  

Total liability derivatives designated as hedging instruments

        (12,700 )      —     

Liability derivatives not designated as hedging instruments:

       

Commodity contracts

  

Accrued expenses and
other current liabilities

      —          (553 ) 

Foreign exchange contracts

  

Accrued expenses and
other current liabilities

      —          (2 ) 
    

 

 

    

 

 

  

Total liability derivatives not designated as hedging instruments

        —          (555 ) 

Total liability derivatives

      $ (12,700 )    $ (555 ) 
    

 

 

    

 

 

  

Derivatives Designated as Hedging Instrument [Member]  
Effect of Derivative Instruments on Consolidated Statements of Earnings

The Effect of Derivative Instruments on the Consolidated Statements of Earnings

Derivatives Designated as Hedging Instruments (in thousands)

Derivatives in Cash Flow

Hedging Relationships

    Statement of
Earnings
Location		    Amount of Gain or (Loss),
net of tax,
Recognized in OCI on Derivatives
(Effective Portion)		     Amount of Gain or (Loss),
net of tax,
Reclassified from
Accumulated OCI into
Earnings on Derivatives
(Effective Portion)		     Amount of Gain or (Loss),
net of tax,
Recognized in Earnings on
Derivatives (Ineffective Portion)		  
      2014     2013      2012     2014     2013      2012     2014      2013      2012  

Commodity contracts

    Cost of products
sold		    $ (8,542 )    $ —         $ (2,264 )    $ (542 )    $ —         $ (42,515 )    $ —         $ —         $ 500   
     

 

 

    

 

 

     

 

 

    

 

 

    

 

 

     

 

 

    

 

 

     

 

 

     

 

 

  

 
Derivatives Not Designated as Hedging Instrument [Member]  
Effect of Derivative Instruments on Consolidated Statements of Earnings
Derivatives Not Designated as Hedging Instruments (in thousands)                

Derivatives Not Designated
as Hedging Instruments

   

Statement of Earnings
Location

    Amount of Gain or (Loss)
Recognized in Earnings  on
Derivatives		  
      2014      2013      2012  

Commodity contracts

    Cost of products sold    $ 1,890       $ 4,622       $ 1,321   

Foreign exchange contracts

    Cost of products sold      748         112         198   
     

 

 

     

 

 

     

 

 

  

Total

       $ 2,638       $ 4,734       $ 1,519