Segments

6 Months Ended

Jul. 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 LLC (“NuMit”) and Nucor-JFE Steel Mexico, S. de R.L. de C.V. (“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 (“Nucor Steel Louisiana”), 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 second quarter and first six months of 2021 and 2020 were as follows (in thousands):

	Three Months (13 Weeks) Ended						Six Months (26 Weeks) Ended
	July 3, 2021			July 4, 2020			July 3, 2021			July 4, 2020
Net sales to external customers:
Steel mills	$	5,909,909		$	2,513,961		$	10,518,686		$	6,033,231
Steel products		2,241,107			1,523,168			4,051,162			3,250,022
Raw materials		638,148			290,177			1,236,456			668,390
	$	8,789,164		$	4,327,306		$	15,806,304		$	9,951,643
Intercompany sales:
Steel mills	$	1,496,298		$	663,244		$	2,721,411		$	1,532,336
Steel products		80,394			63,205			151,613			146,574
Raw materials		4,009,808			1,484,982			7,656,003			3,908,787
Corporate/eliminations		(5,586,500	)		(2,211,431	)		(10,529,027	)		(5,587,697	)
	$	-		$	-		$	-		$	-
Earnings (loss) before income taxes and    noncontrolling interests:
Steel mills	$	2,174,807		$	150,424		$	3,489,781		$	306,930
Steel products		259,330			152,874			471,142			315,433
Raw materials		120,143			(1,389	)		343,378			(9,300	)
Corporate/eliminations		(528,532	)		(120,852	)		(980,307	)		(285,709	)
	$	2,025,748		$	181,057		$	3,323,994		$	327,354

	July 3, 2021		Dec. 31, 2020
Segment assets:
Steel mills	$	11,734,231	$	9,708,260
Steel products		5,342,505		4,461,042
Raw materials		3,876,540		3,324,489
Corporate/eliminations		2,042,306		2,631,603
	$	22,995,582	$	20,125,394