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Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Change in Net Carrying Amount of Goodwill by Segment

The change in the net carrying amount of goodwill for the years ended December 31, 2018 and 2017 by segment is as follows:

 

     (in thousands)  
     Steel Mills      Steel
Products
     Raw
Materials
     Total  

Balance, December 31, 2016

   $ 620,156      $ 702,995      $ 729,577      $  2,052,728  

Acquisitions

     125,328        7,004        —          132,332  

Translation

     —          10,998        —          10,998  
  

 

 

    

 

 

    

 

 

    

 

 

 

Balance, December 31, 2017

     745,484        720,997        729,577        2,196,058  

Reclassifications

     (153,498      153,498        —          —    

Translation

     —          (11,722             (11,722
  

 

 

    

 

 

    

 

 

    

 

 

 

Balance, December 31, 2018

   $ 591,986      $  862,773      $  729,577      $ 2,184,336  
  

 

 

    

 

 

    

 

 

    

 

 

 
Schedule of Intangible Assets

Intangible assets with estimated useful lives of five to 22 years are amortized on a straight-line or accelerated basis and are comprised of the following:

 

     (in thousands)  
     December 31, 2018      December 31, 2017  
     Gross
Amount
     Accumulated
Amortization
     Gross
Amount
     Accumulated
Amortization
 

Customer relationships

   $  1,418,250      $  713,656      $  1,420,224      $  641,089  

Trademarks and trade names

     176,046        87,680        176,471        77,208  

Other

     67,820        32,276        62,805        26,557  
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 1,662,116      $ 833,612      $ 1,659,500      $ 744,854