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, primarily 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. During the second quarter of 2015, the Company continued to perform certain internal reorganization activities that began in the first quarter of 2015. In connection with this process, the financial information utilized by the Chief Operating Decision Maker when assessing segment performance and making resource allocations was adjusted in a way that affected how certain assets are grouped. This resulted in certain assets being reclassified between the steel mills segment, steel products segment, raw materials segment and corporate/eliminations in order to align with the approach management uses to assess the performance of those segments. The segment data for the comparable periods has also been reclassified in order to conform to the current period presentation. These reclassifications did not have any impact on the consolidated asset balances nor did they impact any segment income statement amounts.

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, 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 4, 2015

July 5, 2014

July 4, 2015

July 5, 2014

Net sales to external customers:

Steel mills

2,968,644

3,674,140

6,021,983

7,281,904

Steel products

1,015,646

1,035,923

1,937,030

1,910,092

Raw materials

373,319

581,012

798,036

1,207,523

4,357,609

5,291,075

8,757,049

10,399,519

Intercompany sales:

Steel mills

577,271

742,200

1,152,254

1,451,066

Steel products

21,020

26,542

40,517

48,042

Raw materials

1,687,941

2,443,492

3,520,859

4,971,498

Corporate/eliminations

(2,286,232

)

(3,212,234

)

(4,713,630

)

(6,470,606

)

—

Earnings (loss) before income taxes and noncontrolling interests:

Steel mills

198,500

368,138

415,628

685,935

Steel products

70,636

42,612

103,094

44,332

Raw materials

(38,104

)

(9,635

)

(79,601

)

(1,276

)

Corporate/eliminations

(14,810

)

(159,250

)

(103,854

)

(279,625

)

216,222

241,865

335,267

449,366

July 4, 2015

Dec. 31, 2014

Segment assets:

Steel mills

7,900,573

8,528,623

Steel products

2,708,522

2,731,320

Raw materials

3,590,917

3,858,254

Corporate/eliminations

868,165

497,730

15,068,177

15,615,927