Basis of Interim Presentation (Tables)

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Adjustments to Condensed Consolidated Financial Statements and Effect of Change in Accounting Principle from LIFO to FIFO on Net Earnings

As a result of the retrospective application of the change in accounting principle, certain financial statement line items in the Company’s condensed consolidated statements of earnings for the three- and nine-month periods ended October 1, 2016 and condensed consolidated statement of cash flows (no impact on total cash provided by operating activities) for the nine-month period ended October 1, 2016 were adjusted as follows:

(in thousands, except per share data)	As Originally Reported			Effect of Change			As Currently Reported
Condensed Consolidated Statement of Earnings for the Three Months (13 Weeks) Ended October 1, 2016:
Cost of products sold	$	3,665,900		$	(57,900	)	$	3,608,000
Provision for income taxes		131,788			21,019			152,807
Net earnings		294,484			36,881			331,365
Earnings attributable to noncontrolling interests		24,448			1,470			25,918
Net earnings attributable to Nucor stockholders		270,036			35,411			305,447
Net earnings per share:
Basic	$	0.84		$	0.11		$	0.95
Diluted	$	0.84		$	0.11		$	0.95
(in thousands, except per share data)	As Originally Reported			Effect of Change			As Currently Reported
Condensed Consolidated Statement of Earnings for the Nine Months (39 Weeks) Ended October 1, 2016:
Cost of products sold	$	10,774,040		$	(104,937	)	$	10,669,103
Provision for income taxes		281,401			36,987			318,388
Net earnings		657,281			67,950			725,231
Earnings attributable to noncontrolling interests		82,719			5,880			88,599
Net earnings attributable to Nucor stockholders		574,562			62,070			636,632
Net earnings per share:
Basic	$	1.79		$	0.20		$	1.99
Diluted	$	1.79		$	0.20		$	1.99
(in thousands)
Condensed Consolidated Statement of Cash Flows for the Nine Months (39 Weeks) Ended October 1, 2016:
Net earnings	$	657,281		$	67,950		$	725,231
Changes in inventories		(184,320	)		(104,937	)		(289,257	)
Changes in deferred income taxes		49,834			36,987			86,821