Segments

3 Months Ended

Apr. 02, 2022

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, steel racking, piling products, 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.

Corporate/eliminations include items such as 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. 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 2022 and 2021 were as follows (in thousands):

	Three Months (13 Weeks) Ended
	April 2, 2022			April 3, 2021
Net sales to external customers:
Steel mills	$	6,518,609		$	4,608,777
Steel products		3,323,088			1,810,055
Raw materials		651,585			598,308
	$	10,493,282		$	7,017,140
Intercompany sales:
Steel mills	$	1,593,258		$	1,225,113
Steel products		134,706			71,219
Raw materials		3,546,519			3,646,195
Corporate/eliminations		(5,274,483	)		(4,942,527	)
	$	-		$	-
Earnings before income taxes and    noncontrolling interests:
Steel mills	$	2,578,854		$	1,314,974
Steel products		684,867			211,812
Raw materials		95,853			223,235
Corporate/eliminations		(461,459	)		(451,775	)
	$	2,898,115		$	1,298,246

	April 2, 2022		Dec. 31, 2021
Segment assets:
Steel mills	$	14,458,171	$	13,235,463
Steel products		8,014,507		7,845,010
Raw materials		3,709,087		3,870,806
Corporate/eliminations		2,451,103		871,793
	$	28,632,868	$	25,823,072