Segments

6 Months Ended

Jul. 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, overhead doors, 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 second quarter and first six months of 2022 and 2021 were as follows (in thousands):

	Three Months (13 Weeks) Ended						Six Months (26 Weeks) Ended
	July 2, 2022			July 3, 2021			July 2, 2022			July 3, 2021
Net sales to external customers:
Steel mills	$	7,256,067		$	5,909,909		$	13,774,676		$	10,518,686
Steel products		3,842,948			2,241,107			7,166,036			4,051,162
Raw materials		695,459			638,148			1,347,044			1,236,456
	$	11,794,474		$	8,789,164		$	22,287,756		$	15,806,304
Intercompany sales:
Steel mills	$	1,763,563		$	1,496,298		$	3,356,821		$	2,721,411
Steel products		117,289			80,394			251,995			151,613
Raw materials		4,145,690			4,009,808			7,692,209			7,656,003
Corporate/eliminations		(6,026,542	)		(5,586,500	)		(11,301,025	)		(10,529,027	)
	$	-		$	-		$	-		$	-
Earnings before income taxes and    noncontrolling interests:
Steel mills	$	2,815,723		$	2,174,807		$	5,394,577		$	3,489,781
Steel products		1,129,932			259,330			1,814,799			471,142
Raw materials		263,598			120,143			359,451			343,378
Corporate/eliminations		(718,851	)		(528,532	)		(1,180,310	)		(980,307	)
	$	3,490,402		$	2,025,748		$	6,388,517		$	3,323,994

	July 2, 2022		Dec. 31, 2021
Segment assets:
Steel mills	$	15,255,411	$	13,235,463
Steel products		12,464,340		7,845,010
Raw materials		3,678,516		3,870,806
Corporate/eliminations		270,190		871,793
	$	31,668,457	$	25,823,072