Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

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

		Fair Value at
		December 31,
Fair Value of Derivative Instruments	Consolidated Balance Sheet Location	2019			2018
Asset derivatives designated as hedging instruments:
Commodity contracts	Other current assets	$	—		$	100
Asset derivatives not designated as hedging instruments:
Commodity contracts	Other current assets		—			2,617
Foreign exchange contracts	Other current assets		—			2,055
Total asset derivatives not designated as hedging instruments			—			4,672
Total asset derivatives		$	—		$	4,772
Liability derivatives designated as hedging instruments:
Commodity contracts	Accrued expenses and other current liabilities	$	(7,200	)	$	—
Commodity contracts	Deferred credits and other liabilities		(11,200	)		(8,600	)
Total liability derivatives designated as hedging instruments			(18,400	)		(8,600	)
Liability derivatives not designated as hedging instruments:
Commodity contracts	Accrued expenses and other current liabilities		(1,118	)		—
Foreign exchange contracts	Accrued expenses and other current liabilities		(81	)		—
Total liability derivatives not designated as hedging instruments			(1,199	)		—

Total liability derivatives		$	(19,599	)	$	(8,600	)

The Effect of Derivatives Instruments on the Consolidated Statements of Earnings

Derivatives Designated as Hedging Instruments for the Year Ended December 31, (in thousands)

											Amount of Gain or
											(Loss), net of tax,
		Amount of Gain or (Loss),									Reclassified from								Amount of Gain or (Loss),
	Statement of	net of tax, Recognized									Accumulated OCI into								net of tax, Recognized
Derivatives in Cash Flow	Earnings	in OCI on Derivatives									Earnings on Derivatives								in Earnings on Derivatives
Hedging Relationships	Location	(Effective Portion)									(Effective Portion)								(Ineffective Portion)
		2019			2018			2017			2019			2018		2017			2019		2018		2017
Commodity contracts	Cost of products sold	$	(9,833	)	$	(3,568	)	$	(4,523	)	$	(2,333	)	$	132	$	(973	)	$	—	$	—	$	—

Derivatives Not Designated as Hedging Instruments for the Year Ended December 31, (in thousands)

		Amount of Gain or (Loss)
Derivatives Not Designated	Statement of Earnings	Recognized in Earnings on
as Hedging Instruments	Location	Derivatives
		2019			2018		2017
Commodity contracts	Cost of products sold	$	2,269		$	14,572	$	(11,973	)
Foreign exchange contracts	Cost of products sold		(59	)		3,609		(3,344	)
Total		$	2,210		$	18,181	$	(15,317	)