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Segments
3 Months Ended
Apr. 03, 2021
Segment Reporting [Abstract]  
Segments

14. 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 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 (“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, restricted cash and cash equivalents, 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 2021 and 2020 were as follows (in thousands):

 

 

 

Three Months (13 Weeks) Ended

 

 

 

April 3, 2021

 

 

April 4, 2020

 

Net sales to external customers:

 

 

 

 

 

 

 

 

Steel mills

 

$

4,608,777

 

 

$

3,519,270

 

Steel products

 

 

1,810,055

 

 

 

1,726,854

 

Raw materials

 

 

598,308

 

 

 

378,213

 

 

 

$

7,017,140

 

 

$

5,624,337

 

Intercompany sales:

 

 

 

 

 

 

 

 

Steel mills

 

$

1,225,113

 

 

$

869,092

 

Steel products

 

 

71,219

 

 

 

83,369

 

Raw materials

 

 

3,646,195

 

 

 

2,423,805

 

Corporate/eliminations

 

 

(4,942,527

)

 

 

(3,376,266

)

 

 

$

-

 

 

$

-

 

Earnings (loss) before income taxes and noncontrolling

   interests:

 

 

 

 

 

 

 

 

Steel mills

 

$

1,314,974

 

 

$

156,506

 

Steel products

 

 

211,812

 

 

 

162,559

 

Raw materials

 

 

223,235

 

 

 

(7,911

)

Corporate/eliminations

 

 

(451,775

)

 

 

(164,857

)

 

 

$

1,298,246

 

 

$

146,297

 

 

 

 

April 3, 2021

 

 

Dec. 31, 2020

 

Segment assets:

 

 

 

 

 

 

 

 

Steel mills

 

$

10,785,872

 

 

$

9,708,260

 

Steel products

 

 

4,838,456

 

 

 

4,461,042

 

Raw materials

 

 

3,605,884

 

 

 

3,324,489

 

Corporate/eliminations

 

 

1,942,196

 

 

 

2,631,603

 

 

 

$

21,172,408

 

 

$

20,125,394