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Segments
 3 Months Ended
Mar. 30, 2019
Segment Reporting [Abstract]  
Segments
16.
SEGMENTS: Nucor reports its results in the following segments: steel mills, steel products and raw materials. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor’s equity method investments in Duferdofin Nucor, NuMit and Nucor-JFE. The steel products segment includes steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, precision castings, steel fasteners, metal building systems, steel grating, tubular products businesses, piling products business, and wire and wire mesh. The raw materials segment includes The David J. Joseph Company and its affiliates, primarily a scrap broker and processor; Nu-Iron Unlimited and Nucor Steel Louisiana, two facilities that produce direct reduced iron used by the steel mills; and our natural gas production operations.
Net interest expense on long-term debt, charges and credits associated with changes in allowances to eliminate intercompany profit in inventory, profit sharing expense and stock-based compensation are shown under Corporate/eliminations. Corporate assets primarily include cash and cash equivalents, short-term investments, allowances to eliminate intercompany profit in inventory, deferred income tax assets, federal and state income taxes receivable and investments in and advances to
affiliates.
Nucor’s results by segment for the first quarter of 2019 and 2018 were as follows (in thousands):
 
 
 
Three Months (13 Weeks) Ended
 
 
 
March 30, 2019
 
 
March 31, 2018
 
Net sales to external customers:
 
 
 
 
 
 
 
 
Steel mills
 
$
3,949,402
 
 
$
3,580,694
 
Steel products
 
 
1,654,522
 
 
 
1,468,711
 
Raw materials
 
 
492,700
 
 
 
519,014
 
 
 
$
6,096,624
 
 
$
5,568,419
 
Intercompany sales:
 
 
 
 
 
 
 
 
Steel mills
 
$
902,224
 
 
$
898,326
 
Steel products
 
 
62,805
 
 
 
35,770
 
Raw materials
 
 
2,423,869
 
 
 
2,608,944
 
Corporate/eliminations
 
 
(3,388,898
)
 
 
(3,543,040
)
 
 
$
—
 
 
$
—
 
Earnings (loss) before income taxes and noncontrolling interests:
 
 
 
 
 
 
 
 
Steel mills
 
$
689,398
 
 
$
560,503
 
Steel products
 
 
77,433
 
 
 
85,814
 
Raw materials
 
 
53,223
 
 
 
74,547
 
Corporate/eliminations
 
 
(130,438
)
 
 
(204,952
)
 
 
$
689,616
 
 
$
515,912
 
 
 
 
March 30, 2019
 
 
Dec. 31, 2018
 
Segment assets:
 
 
 
 
 
 
 
 
Steel mills
 
$
9,135,256
 
 
$
9,244,086
 
Steel products
 
 
4,774,332
 
 
 
4,734,636
 
Raw materials
 
 
3,405,968
 
 
 
3,492,126
 
Corporate/eliminations
 
 
771,142
 
 
 
449,740
 
 
 
$
18,086,698
 
 
$
17,920,588