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 first six months of 2015, the Company performed certain internal reorganization activities. 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

Nine Months (39 Weeks) Ended

October 3, 2015

October 4, 2014

October 3, 2015

October 4, 2014

Net sales to external customers:

Steel mills

2,816,441

3,898,031

8,838,424

11,179,935

Steel products

1,081,047

1,142,043

3,018,077

3,052,135

Raw materials

328,026

661,795

1,126,062

1,869,318

4,225,514

5,701,869

12,982,563

16,101,388

Intercompany sales:

Steel mills

551,300

797,396

1,703,554

2,248,462

Steel products

26,271

34,215

66,788

82,257

Raw materials

1,689,458

2,492,453

5,210,317

7,463,951

Corporate/eliminations

(2,267,029

)

(3,324,064

)

(6,980,659

)

(9,794,670

)

—

Earnings (loss) before income taxes and noncontrolling interests:

Steel mills

260,776

502,703

676,404

1,188,638

Steel products

96,167

63,890

199,261

108,222

Raw materials

(43,177

)

(19,321

)

(122,778

)

(20,597

)

Corporate/eliminations

40,505

(143,287

)

(63,349

)

(422,912

)

354,271

403,985

689,538

853,351

October 3, 2015

Dec. 31, 2014

Segment assets:

Steel mills

7,851,349

8,528,623

Steel products

2,638,770

2,731,320

Raw materials

3,492,948

3,858,254

Corporate/eliminations

1,286,401

497,730

15,269,468

15,615,927