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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2017
Fair Values of Derivative Instruments

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

 

Fair Value of Derivative Instruments

          Fair Value at
December 31,
 
   Consolidated Balance Sheet Location      2017     2016  

Asset derivatives designated as hedging instruments:

       

Commodity contracts

     Other current assets      $ —       $ 1,250  

Asset derivatives not designated as hedging instruments:

       

Foreign exchange contracts

     Other current assets        479       779  
     

 

 

   

 

 

 

Total asset derivatives

      $ 479     $ 2,029  
     

 

 

   

 

 

 

Liability derivatives designated as hedging instruments:

       

Commodity contracts

     Accrued expenses and other current liabilities      $ (2,100   $ —    

Commodity contracts

     Deferred credits and other liabilities        (2,400     —    
     

 

 

   

 

 

 

Total liability derivatives designated as hedging instruments

        (4,500     —    

Liability derivatives not designated as hedging instruments:

       

Commodity contracts

     Accrued expenses and other current liabilities        (4,031     (605
     

 

 

   

 

 

 

Total liability derivatives

      $ (8,531   $ (605
     

 

 

   

 

 

 

 

Derivatives Designated as Hedging Instrument [Member]  
Effect of Derivative Instruments on Consolidated Statements of Earnings

The Effect of Derivative Instruments on the Consolidated Statements of Earnings

Derivatives Designated as Hedging Instruments (in thousands)

 

Derivatives in Cash Flow

Hedging Relationships

  

Statement of Earnings

Location

  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)
 
     2017     2016     2015     2017     2016     2015     2017     2016     2015  

Commodity contracts

   Cost of products sold   $ (4,523   $ 2,570     $ (9,498   $ (973   $ (9,880   $ (5,798   $ —       $ —       $ —    
    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Derivatives Not Designated as Hedging Instrument [Member]  
Effect of Derivative Instruments on Consolidated Statements of Earnings

Derivatives Not Designated as Hedging Instruments (in thousands)

 

Derivatives Not Designated

as Hedging Instruments

   Statement of Earnings
Location
     Amount of Gain or (Loss)
Recognized in Earnings on
Derivatives
 
      2017      2016      2015  

Commodity contracts

     Cost of products sold      $ (11,973    $ (3,251    $ 2,894  

Foreign exchange contracts

     Cost of products sold        (3,344      238        2,392  
     

 

 

    

 

 

    

 

 

 

Total

      $ (15,317    $ (3,013    $ 5,286