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Segments
 9 Months Ended
Oct. 03, 2020
Segment Reporting [Abstract]  
Segments

15. 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 (collectively, “DJJ”), primarily a scrap broker and processor; Nu-Iron Unlimited and Nucor Steel Louisiana LLC, two facilities that produce direct reduced iron (“DRI”) 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 investment in and advances to affiliates.


Nucor’s results by segment for the third quarter and first nine months of 2020 and 2019 were as follows (in thousands):

 

 

 

Three Months (13 Weeks) Ended

 

 

Nine Months (39 Weeks) Ended

 

 

 

Oct. 3, 2020

 

 

Sept. 28, 2019

 

 

Oct. 3, 2020

 

 

Sept. 28, 2019

 

Net sales to external customers:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Steel mills

 

$

2,842,625

 

 

$

3,244,473

 

 

$

8,875,856

 

 

$

10,897,322

 

Steel products

 

 

1,738,004

 

 

 

1,820,359

 

 

 

4,988,026

 

 

 

5,225,064

 

Raw materials

 

 

347,331

 

 

 

399,670

 

 

 

1,015,721

 

 

 

1,334,726

 

 

 

$

4,927,960

 

 

$

5,464,502

 

 

$

14,879,603

 

 

$

17,457,112

 

Intercompany sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Steel mills

 

$

731,942

 

 

$

825,237

 

 

$

2,264,278

 

 

$

2,542,008

 

Steel products

 

 

51,029

 

 

 

57,517

 

 

 

197,603

 

 

 

174,718

 

Raw materials

 

 

1,863,796

 

 

 

2,063,167

 

 

 

5,772,583

 

 

 

6,917,523

 

Corporate/eliminations

 

 

(2,646,767)

 

 

 

(2,945,921

)

 

 

(8,234,464)

 

 

 

(9,634,249

)

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

Earnings (loss) before income taxes and

   noncontrolling interests:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Steel mills

 

$

205,152

 

 

$

309,939

 

 

$

512,082

 

 

$

1,578,257

 

Steel products

 

 

186,976

 

 

 

170,214

 

 

 

502,409

 

 

 

363,731

 

Raw materials

 

 

6,232

 

 

 

(10,599

)

 

 

(3,068)

 

 

 

64,333

 

Corporate/eliminations

 

 

(107,942)

 

 

 

(89,215

)

 

 

(393,651)

 

 

 

(401,744

)

 

 

$

290,418

 

 

$

380,339

 

 

$

617,772

 

 

$

1,604,577

 

 

 

 

Oct. 3, 2020

 

 

Dec. 31, 2019

 

Segment assets:

 

 

 

 

 

 

 

 

Steel mills

 

$

9,251,790

 

 

$

9,283,216

 

Steel products

 

 

4,399,501

 

 

 

4,610,628

 

Raw materials

 

 

3,172,464

 

 

 

3,316,479

 

Corporate/eliminations

 

 

2,695,522

 

 

 

1,134,343

 

 

 

$

19,519,277

 

 

$

18,344,666