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

Fair Value of Derivative Instruments


		Fair Value at
	Balance Sheet Location	July 1, 2017			Dec. 31, 2016
Asset derivatives designated as hedging instruments:
Commodity contracts	Other current assets	$	200		$	1,250

Asset derivatives not designated as hedging instruments:
Foreign exchange contracts	Other current assets		—			779

Total asset derivatives		$	200		$	2,029

Liability derivatives designated as hedging instruments:
Commodity contracts	Deferred credits and other liabilities	$	(700	)	$	—

Liability derivatives not designated as hedging instruments:
Commodity contracts	Accrued expenses and other current liabilities		(658	)		(605	)
Foreign exchange contracts	Accrued expenses and other current liabilities		(1,232	)		—

Total liability derivatives not designated as hedging instruments			(1,890	)		(605	)

Total liability derivatives		$	(2,590	)	$	(605	)

Effect of Derivative Instruments on Condensed Consolidated Statements of Earnings

Derivatives Not Designated as Hedging Instruments

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

Derivatives Not Designated as

Statement of

Three Months (13 Weeks) Ended

Six Months (26 Weeks) Ended

Hedging Instruments

Earnings Location

July 1, 2017

July 2, 2016

July 1, 2017

July 2, 2016

Commodity contracts

Cost of products sold

$

(364

)

$

(962

)

$

(2,919

)

$

(874

)

Foreign exchange contracts

Cost of products sold

(1,449

)

(13

)

(2,345

)

(831

)

Total

$

(1,813

)

$

(975

)

$

(5,264

)

$

(1,705

)

Effect of Derivative Instruments on Condensed Consolidated Statements of Earnings

The Effect of Derivative Instruments on the Condensed Consolidated Statements of Earnings

Derivatives Designated as Hedging Instruments

Amount of Gain or (Loss), net of

tax, Reclassified from

Amount of Gain or (Loss), net of

Derivatives in

tax, Recognized in OCI on

Accumulated OCI into Earnings on

tax, Recognized in Earnings on

Cash Flow

Statement of

Derivatives (Effective Portion)

Derivatives (Ineffective Portion)

Hedging

Earnings

Three Months (13 Weeks) Ended

Relationships

Location

July 1, 2017

July 2, 2016

July 1, 2017

July 2, 2016

July 1, 2017

July 2, 2016

Commodity contracts

Cost of
products
sold

$

(71

)

$

3,243

$

(171

)

$

(3,257

)

$

—

$

—

Derivatives in

Cash Flow

Statement of

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)

Hedging

Earnings

Six Months (26 Weeks) Ended

Relationships

Location

July 1, 2017

July 2, 2016

July 1, 2017

July 2, 2016

July 1, 2017

July 2, 2016

Commodity contracts

Cost of
products
sold

$

(1,706

)

$

1,512

$

(656

)

$

(6,288

)

$

—

$

—