Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Values of Derivative Financial Instruments

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

		Fair Value at
		December 31,
Fair Value of Derivative Financial    Instruments	Consolidated Balance Sheet Location	2020			2019
Liability derivatives designated    as hedging instruments:
Commodity contracts	Accrued expenses and other current liabilities	$	(2,400	)	$	(7,200	)
Commodity contracts	Deferred credits and other liabilities		(3,800	)		(11,200	)
Total liability derivatives    designated as hedging    instruments			(6,200	)		(18,400	)
Liability derivatives not designated    as hedging instruments:
Commodity contracts	Accrued expenses and other current liabilities		(5,685	)		(1,118	)
Foreign exchange contracts	Accrued expenses and other current liabilities		(2,476	)		(81	)
Total liability derivatives not    designated as hedging    instruments			(8,161	)		(1,199	)
Total liability derivatives		$	(14,361	)	$	(19,599	)

Derivatives Designated as Hedging Instrument [Member]

Effect of Derivatives Financial Instruments on Consolidated Statements of Earnings

The Effect of Derivative Financial 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)
		2020		2019			2018			2020			2019			2018		2020		2019		2018
Commodity contracts	Cost of products sold	$	2,084	$	(9,833	)	$	(3,568	)	$	(7,216	)	$	(2,333	)	$	132	$	—	$	—	$	—

Derivatives Not Designated as Hedging Instrument [Member]

Effect of Derivatives Financial Instruments on Consolidated Statements of Earnings

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
		2020			2019			2018
Commodity contracts	Cost of products sold	$	(8,829	)	$	2,269		$	14,572
Foreign exchange contracts	Cost of products sold		(3,035	)		(59	)		3,609
Total		$	(11,864	)	$	2,210		$	18,181