Quarterly Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Information

(in thousands, except per share data)
Year Ended December 31, 2016

First Quarter

Second Quarter

Third Quarter

Fourth Quarter

Net sales

3,715,576

4,245,772

4,290,236

3,956,538

Gross margin ⁽¹⁾

314,985

585,260

682,236

443,426

Net earnings (loss) ⁽²⁾

122,497

271,369

331,365

175,185

Net earnings (loss) attributable to Nucor stockholders ⁽²⁾

87,565

243,620

305,447

159,639

Net earnings (loss) per share:

Basic

0.27

0.76

0.95

0.50

Diluted

0.27

0.76

0.95

0.50

(in thousands, except per share data)
Year Ended December 31, 2015

First Quarter

Second Quarter

Third Quarter

Fourth Quarter

Net sales

4,399,440

4,357,609

4,225,514

3,456,713

Gross margin

271,036

291,552

383,207

168,095

Net earnings (loss) ⁽³⁾

72,764

98,282

177,090

(155,106

)

Net earnings (loss) attributable to Nucor stockholders ⁽³⁾

58,232

67,613

142,360

(187,481

)

Net earnings (loss) per share:

Basic

0.18

0.21

0.44

(0.59

)

Diluted

0.18

0.21

0.44

(0.59

)

(1)

Fourth quarter results include a benefit of $83.0 million related to the effects of a change in estimate related to the cost of certain inventories.

(2)

First quarter results include out-of-period non-cash gains totaling $13.4 million related to a noncontrolling interest adjustment and to tax adjustments. Third quarter results were impacted by charges related to legal settlements of $33.7 million and a net benefit of $11.1 million related to fair value adjustments to assets in the Corporate/eliminations segment.

(3)

Second quarter results include a $9.3 million benefit related to state tax credits. Third quarter results were impacted by an out-of-period non-cash gain of $10.2 million related to a correction of deferred tax balances. Fourth quarter results were impacted by a $153.0 million impairment charge related to our Duferdofin Nucor S.r.l. joint venture and an $84.1 million pre-tax impairment charge on assets related to the blast furnace project at the St. James Parish site.

Schedule of Quarterly Information Reflecting Effect of Change in Inventory Valuation Method from LIFO to FIFO

The following tables show quarterly information reflecting the effect of the change in inventory valuation method from LIFO to FIFO. Refer to Note 2 for more information related to the change in accounting principle the Company made in the fourth quarter of 2016.

Year Ended December 31, 2016

(in thousands, except per share data)

First Quarter

Second Quarter

Third Quarter

Fourth Quarter

Gross margin using previous inventory valuation method (LIFO)

286,948

566,260

624,336

407,028

Effect of change

28,037

19,000

57,900

36,398

Gross margin using current inventory valuation method (FIFO)

314,985

585,260

682,236

443,426

Net earnings using previous inventory valuation method (LIFO)

104,461

258,336

294,484

153,023

Effect of change

18,036

13,033

36,881

22,162

Net earnings using current inventory valuation method (FIFO)

122,497

271,369

331,365

175,185

Net earnings attributable to Nucor stockholders using previous inventory valuation method (LIFO)

70,754

233,772

270,036

136,242

Effect of change

16,811

9,848

35,411

23,397

Net earnings attributable to Nucor stockholders using current inventory valuation method (FIFO)

87,565

243,620

305,447

159,639

Basic net earnings per share using previous inventory valuation method (LIFO)

0.22

0.73

0.84

0.42

Effect of change

0.05

0.03

0.11

0.08

Basic net earnings per share using current inventory valuation method (FIFO)

0.27

0.76

0.95

0.50

Diluted net earnings per share using previous inventory valuation method (LIFO)

0.22

0.73

0.84

0.42

Effect of change

0.05

0.03

0.11

0.08

Diluted net earnings per share using current inventory valuation method (FIFO)

0.27

0.76

0.95

0.50

Year Ended December 31, 2015

(in thousands, except per share data)

First Quarter

Second Quarter

Third Quarter

Fourth Quarter

Gross margin using previous inventory valuation method (LIFO)

288,282

386,306

523,836

382,838

Effect of change

(17,246

)

(94,754

)

(140,629

)

(214,743

)

Gross margin using current inventory valuation method (FIFO)

271,036

291,552

383,207

168,095

Net earnings (loss) using previous inventory valuation method (LIFO)

84,292

159,344

267,736

(15,288

)

Effect of change

(11,528

)

(61,062

)

(90,646

)

(139,818

)

Net earnings (loss) using current inventory valuation method (FIFO)

72,764

98,282

177,090

(155,106

)

Net earnings (loss) attributable to Nucor stockholders using previous inventory valuation method (LIFO)

67,800

124,755

227,126

(62,022

)

Effect of change

(9,568

)

(57,142

)

(84,766

)

(125,459

)

Net earnings (loss) attributable to Nucor stockholders using current inventory valuation method (FIFO)

58,232

67,613

142,360

(187,481

)

Basic net earnings (loss) per share using previous inventory valuation method (LIFO)

0.21

0.39

0.71

(0.19

)

Effect of change

(0.03

)

(0.18

)

(0.27

)

(0.40

)

Basic net earnings (loss) per share using current inventory valuation method (FIFO)

0.18

0.21

0.44

(0.59

)

Diluted net earnings (loss) per share using previous inventory valuation method (LIFO)

0.21

0.39

0.71

(0.19

)

Effect of change

(0.03

)

(0.18

)

(0.27

)

(0.40

)

Diluted net earnings (loss) per share using current inventory valuation method (FIFO)

0.18

0.21

0.44

(0.59

)