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 wire and wire mesh. The raw materials segment includes The David J. Joseph Company and its affiliates (DJJ), primarily a scrap broker and processor; Nu-Iron Unlimited and Nucor Steel Louisiana, two facilities that produce direct reduced iron (DRI) used by the steel mills; our natural gas production operations; and Nucor’s equity method investment in Hunter Ridge. Nucor sold its 50% interest in Hunter Ridge during the third quarter of 2016. 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, deferred income tax assets, federal and state income taxes receivable, the LIFO reserve and investments in and advances to affiliates. The balance of Corporate assets at December 31, 2015 was adjusted due to the adoption of new accounting guidance requiring the reclassification of debt issuance costs into liabilities in the first quarter of 2016 (see Note 1).

Nucor’s results by segment were as follows (in thousands):

Three Months (13 Weeks) Ended

Nine Months (39 Weeks) Ended

October 1, 2016

October 3, 2015

October 1, 2016

October 3, 2015

Net sales to external customers:

Steel mills

2,960,642

2,816,441

8,611,553

8,838,424

Steel products

1,011,602

1,081,047

2,763,335

3,018,077

Raw materials

317,992

328,026

876,696

1,126,062

4,290,236

4,225,514

12,251,584

12,982,563

Intercompany sales:

Steel mills

567,854

551,300

1,592,512

1,703,554

Steel products

31,117

26,271

80,277

66,788

Raw materials

1,774,538

1,689,458

4,717,370

5,210,317

Corporate/eliminations

(2,373,509

)

(2,267,029

)

(6,390,159

)

(6,980,659

)

—

Earnings (loss) before income taxes and noncontrolling interests:

Steel mills

593,149

260,776

1,403,711

676,404

Steel products

72,578

96,167

197,891

199,261

Raw materials

14,313

(43,177

)

(76,240

)

(122,778

)

Corporate/eliminations

(253,768

)

40,505

(586,680

)

(63,349

)

426,272

354,271

938,682

689,538


	October 1, 2016		Dec. 31, 2015
Segment assets:
Steel mills	$	7,857,830	$	7,318,706
Steel products		2,570,037		2,485,122
Raw materials		3,273,164		3,123,190
Corporate/eliminations		1,412,648		1,299,926

	$	15,113,679	$	14,226,944