Stockholders' Equity

9 Months Ended

Oct. 03, 2020

13. Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity attributable to both Nucor and the noncontrolling interests of Nucor’s joint ventures, primarily Nucor-Yamato Steel Company (Limited Partnership) of which Nucor owns 51%, for the three months and nine months ended October 3, 2020 and September 28, 2019 (in thousands):

				Three Months (13 Weeks) Ended October 3, 2020
													Accumulated									Total
								Additional					Other			Treasury Stock						Nucor
				Common Stock				Paid-in		Retained			Comprehensive			(at cost)						Stockholders'			Noncontrolling
	Total			Shares		Amount		Capital		Earnings			Income (Loss)			Shares			Amount			Equity			Interests
BALANCES, July 4, 2020	$	10,623,485			380,154	$	152,061	$	2,106,907	$	10,998,533		$	(340,836	)		78,259		$	(2,721,845	)	$	10,194,820		$	428,665
Net earnings		222,630			-		-		-		193,415			-			-			-			193,415			29,215
Other comprehensive income (loss)		25,367			-		-		-		-			25,367			-			-			25,367			-
Stock option expense		263			-		-		263		-			-			-			-			263			-
Issuance of stock under award plans, net of forfeitures		11,189			-		-		10,012		-			-			(34	)		1,177			11,189			-
Amortization of unearned compensation		400			-		-		400		-			-			-			-			400			-
Cash dividends declared		(123,039	)		-		-		-		(123,039	)		-			-			-			(123,039	)		-
Distributions to noncontrolling interests		(43,228	)		-		-		-		-			-			-			-			-			(43,228	)
Other		-			-		-		-		(1	)		-			-			-			(1	)		1
BALANCES, October 3, 2020	$	10,717,067			380,154	$	152,061	$	2,117,582	$	11,068,908		$	(315,469	)		78,225		$	(2,720,668	)	$	10,302,414		$	414,653

				Nine Months (39 Weeks) Ended October 3, 2020
													Accumulated									Total
								Additional					Other			Treasury Stock						Nucor
				Common Stock				Paid-in		Retained			Comprehensive			(at cost)						Stockholders'			Noncontrolling
	Total			Shares		Amount		Capital		Earnings			Income (Loss)			Shares			Amount			Equity			Interests
BALANCES, December 31, 2019	$	10,791,176			380,154	$	152,061	$	2,107,646	$	11,115,056		$	(302,966	)		78,342		$	(2,713,931	)	$	10,357,866		$	433,310
Net earnings		410,162			-		-		-		322,627			-			-			-			322,627			87,535
Other comprehensive income (loss)		(12,503	)		-		-		-		-			(12,503	)		-			-			(12,503	)		-
Stock option expense		2,402			-		-		2,402		-			-			-			-			2,402			-
Issuance of stock under award plans, net of forfeitures		38,996			-		-		6,234		-			-			(942	)		32,762			38,996			-
Amortization of unearned compensation		1,300			-		-		1,300		-			-			-			-			1,300			-
Treasury stock acquired		(39,499	)		-		-		-		-			-			825			(39,499	)		(39,499	)		-
Cash dividends declared		(368,774	)		-		-		-		(368,774	)		-			-			-			(368,774	)		-
Distributions to noncontrolling interests		(106,193	)		-		-		-		-			-			-			-			-			(106,193	)
Other		-			-		-		-		(1	)		-			-			-			(1	)		1
BALANCES, October 3, 2020	$	10,717,067			380,154	$	152,061	$	2,117,582	$	11,068,908		$	(315,469	)		78,225		$	(2,720,668	)	$	10,302,414		$	414,653

				Three Months (13 Weeks) Ended September 28, 2019
														Accumulated									Total
								Additional						Other			Treasury Stock						Nucor
				Common Stock				Paid-in			Retained			Comprehensive			(at cost)						Stockholders'			Noncontrolling
	Total			Shares		Amount		Capital			Earnings			Income (Loss)			Shares			Amount			Equity			Interests
BALANCES, June 29, 2019	$	10,698,008			380,154	$	152,061	$	2,098,809		$	10,977,950		$	(297,760	)		76,997		$	(2,630,343	)	$	10,300,717		$	397,291
Net earnings		293,587			-		-		-			275,031			-			-			-			275,031			18,556
Other comprehensive income (loss)		(16,006	)		-		-		-			-			(16,006	)		-			-			(16,006	)		-
Stock option expense		275			-		-		275			-			-			-			-			275			-
Issuance of stock under award plans, net of forfeitures		11,339			-		-		9,365			-			-			(58	)		1,974			11,339			-
Amortization of unearned compensation		500			-		-		500			-			-			-			-			500			-
Cash dividends declared		(122,809	)		-		-		-			(122,809	)		-			-			-			(122,809	)		-
Distributions to noncontrolling interests		(3,861	)		-		-		-			-			-			-			-			-			(3,861	)
Other		-			-		-		(1	)		-			-			-			1			-			-
BALANCES, September 28, 2019	$	10,861,033			380,154	$	152,061	$	2,108,948		$	11,130,172		$	(313,766	)		76,939		$	(2,628,368	)	$	10,449,047		$	411,986

				Nine Months (39 Weeks) Ended September 28, 2019
														Accumulated									Total
								Additional						Other			Treasury Stock						Nucor
				Common Stock				Paid-in			Retained			Comprehensive			(at cost)						Stockholders'			Noncontrolling
	Total			Shares		Amount		Capital			Earnings			Income (Loss)			Shares			Amount			Equity			Interests
BALANCES, December 31, 2018	$	10,201,968			380,154	$	152,061	$	2,073,715		$	10,337,445		$	(304,133	)		74,562		$	(2,467,010	)	$	9,792,078		$	409,890
Net earnings		1,236,657			-		-		-			1,163,320			-			-			-			1,163,320			73,337
Other comprehensive income (loss)		(11,519	)		-		-		-			-			(11,519	)		-			-			(11,519	)		-
Stock options exercised		5,892			-		-		808			-			-			(153	)		5,084			5,892			-
Stock option expense		4,387			-		-		4,387			-			-			-			-			4,387			-
Issuance of stock under award plans, net of forfeitures		59,608			-		-		28,540			-			-			(920	)		31,068			59,608			-
Amortization of unearned compensation		1,500			-		-		1,500			-			-			-			-			1,500			-
Treasury stock acquired		(197,511	)		-		-		-			-			-			3,450			(197,511	)		(197,511	)		-
Cash dividends declared		(368,707	)		-		-		-			(368,707	)		-			-			-			(368,707	)		-
Distributions to noncontrolling interests		(71,241	)		-		-		-			-			-			-			-			-			(71,241	)
Other		(1	)		-		-		(2	)		(1,886	)		1,886			-			1			(1	)		-
BALANCES, September 28, 2019	$	10,861,033			380,154	$	152,061	$	2,108,948		$	11,130,172		$	(313,766	)		76,939		$	(2,628,368	)	$	10,449,047		$	411,986

Dividends declared per share were $0.4025 per share in the third quarter of 2020 ($0.40 per share in the third quarter of 2019) and $1.2075 per share in the first nine months of 2020 ($1.20 per share in the first nine months of 2019).

On September 6, 2018, the Company announced that the Board of Directors had approved a new share repurchase program under which the Company is authorized to repurchase up to $2.00 billion of the Company’s common stock and terminated any previously authorized share repurchase programs. Share repurchases will be made from time to time in the open market at prevailing market prices or through private transactions or block trades. The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements and other factors. The share repurchase authorization is discretionary and has no expiration date. As of October 3, 2020, the Company had approximately $1.16 billion remaining available for share repurchases under the program.