Segments

9 Months Ended

Oct. 02, 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, insulated metal panels, steel grating, tubular products businesses, steel racking, 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 third quarter and first nine months of 2021 and 2020 were as follows (in thousands):

	Three Months (13 Weeks) Ended					Nine Months (39 Weeks) Ended
	Oct. 2, 2021		Oct. 3, 2020			Oct. 2, 2021		Oct. 3, 2020
Net sales to external customers:
Steel mills	$	6,862,133	$	2,842,625		$	17,380,819	$	8,875,856
Steel products		2,744,279		1,738,004			6,795,441		4,988,026
Raw materials		706,811		347,331			1,943,267		1,015,721
	$	10,313,223	$	4,927,960		$	26,119,527	$	14,879,603
Intercompany sales:
Steel mills	$	1,840,007	$	731,942		$	4,561,418	$	2,264,278
Steel products		93,910		51,029			245,523		197,603
Raw materials		4,355,702		1,863,796			12,011,705		5,772,583
Corporate/eliminations		(6,289,619)		(2,646,767	)		(16,818,646)		(8,234,464	)
	$	-	$	-		$	-	$	-
Earnings (losses) before income taxes and    noncontrolling interests:
Steel mills	$	3,116,539	$	205,152		$	6,606,320	$	512,082
Steel products		368,595		186,976			839,737		502,409
Raw materials		161,870		6,232			505,248		(3,068	)
Corporate/eliminations		(777,897)		(107,942	)		(1,758,204)		(393,651	)
	$	2,869,107	$	290,418		$	6,193,101	$	617,772

	Oct. 2, 2021		Dec. 31, 2020
Segment assets:
Steel mills	$	12,800,019	$	9,708,260
Steel products		7,667,192		4,461,042
Raw materials		3,788,291		3,324,489
Corporate/eliminations		693,977		2,631,603
	$	24,949,479	$	20,125,394