Stockholders' Equity

3 Months Ended

Apr. 02, 2022

Equity [Abstract]

Stockholders' Equity

12. Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity attributable to Nucor and the noncontrolling interests of Nucor’s joint ventures, Nucor-Yamato Steel Company (Limited Partnership) (“NYS”) and California Steel Industries, Inc. (“CSI”), both of which Nucor owns 51%, for the three months ended April 2, 2022 and April 3, 2021 (in thousands):

				Three Months (13 Weeks) Ended April 2, 2022
														Accumulated									Total
								Additional						Other			Treasury Stock						Nucor
				Common Stock				Paid-in			Retained			Comprehensive			(at cost)						Stockholders'			Noncontrolling
	Total			Shares		Amount		Capital			Earnings			Income (Loss)			Shares			Amount			Equity			Interests
BALANCES, December 31, 2021	$	14,603,794			380,154	$	152,061	$	2,140,608		$	17,674,100		$	(115,282	)		107,742		$	(5,835,098	)	$	14,016,389		$	587,405
Net earnings		2,227,115			-		-		-			2,095,623			-			-			-			2,095,623			131,492
Other comprehensive income (loss)		70,778			-		-		-			-			70,778			-			-			70,778			-
Stock options exercised		16,586			-		-		(507	)		-			-			(310	)		17,093			16,586			-
Stock option expense		458			-		-		458			-			-			-			-			458			-
Issuance of stock under award plans,    net of forfeitures		43,098			-		-		21,170			-			-			(388	)		21,928			43,098			-
Amortization of unearned    compensation		1,400			-		-		1,400			-			-			-			-			1,400			-
Treasury stock acquired		(905,324	)		-		-		-			-			-			7,048			(905,324	)		(905,324	)		-
Cash dividends declared		(134,446	)		-		-		-			(134,446	)		-			-			-			(134,446	)		-
Distributions to noncontrolling    interests		(211,558	)		-		-		-			-			-			-			-			-			(211,558	)
Acquisition of noncontrolling interest in CSI		431,219			-		-		-			-			-			-			-			-			431,219
BALANCES, April 2, 2022	$	16,143,120			380,154	$	152,061	$	2,163,129		$	19,635,277		$	(44,504	)		114,092		$	(6,701,401	)	$	15,204,562		$	938,558

				Three Months (13 Weeks) Ended April 3, 2021
													Accumulated									Total
								Additional					Other			Treasury Stock						Nucor
				Common Stock				Paid-in		Retained			Comprehensive			(at cost)						Stockholders'			Noncontrolling
	Total			Shares		Amount		Capital		Earnings			Income (Loss)			Shares			Amount			Equity			Interests
BALANCES, December 31, 2020	$	11,231,861			380,154	$	152,061	$	2,121,288	$	11,343,852		$	(118,861	)		77,909		$	(2,709,675	)	$	10,788,665		$	443,196
Net earnings		987,514			-		-		-		942,432			-			-			-			942,432			45,082
Other comprehensive income (loss)		15,301			-		-		-		-			15,301			-			-			15,301			-
Stock options exercised		107,524			-		-		30,488		-			-			(2,135	)		77,036			107,524			-
Stock option expense		333			-		-		333		-			-			-			-			333			-
Issuance of stock under award plans,    net of forfeitures		15,602			-		-		6,900		-			-			(242	)		8,702			15,602			-
Amortization of unearned    compensation		1,900			-		-		1,900		-			-			-			-			1,900			-
Treasury stock acquired		(301,859	)		-		-		-		-			-			5,380			(301,859	)		(301,859	)		-
Cash dividends declared		(122,658	)		-		-		-		(122,658	)		-			-			-			(122,658	)		-
Distributions to noncontrolling    interests		(73,795	)		-		-		-		-			-			-			-			-			(73,795	)
BALANCES, April 3, 2021	$	11,861,723			380,154	$	152,061	$	2,160,909	$	12,163,626		$	(103,560	)		80,912		$	(2,925,796	)	$	11,447,240		$	414,483

Dividends declared per share were $0.50 per share in the first quarter of 2022 ($0.405 per share in the first quarter of 2021).

On December 2, 2021, the Company announced that the Board of Directors had approved a new share repurchase program under which the Company is authorized to repurchase up to $4.00 billion of the Company’s common stock and terminated all previously authorized share repurchase programs. Share repurchases will be made from time to time in the open market at prevailing market prices or through private transactions or block trades. The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements and other factors. The share repurchase authorization is discretionary and has no expiration date. As of April 2, 2022, the Company had approximately $2.94 billion available for share repurchases under the program authorized by the Company’s Board of Directors.