Stockholders' Equity

9 Months Ended

Oct. 01, 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”), in both of which Nucor owns 51%, for the three months and nine months ended October 1, 2022 and October 2, 2021 (in thousands):

				Three Months (13 Weeks) Ended October 1, 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, July 2, 2022	$	17,852,808			380,154	$	152,061	$	2,115,178		$	22,064,383		$	(70,810	)		118,368		$	(7,452,168	)	$	16,808,644		$	1,044,164
Net earnings		1,799,043			-		-		-			1,694,748			-			-			-			1,694,748			104,295
Other comprehensive income (loss)		(32,743	)		-		-		-			-			(32,743	)		-			-			(32,743	)		-
Stock options exercised		2,784			-		-		(1,181	)		-			-			(62	)		3,965			2,784			-
Stock option expense		475			-		-		475			-			-			-			-			475			-
Issuance of stock under award plans,    net of forfeitures		15,009			-		-		12,949			-			-			(31	)		2,060			15,009			-
Amortization of unearned    compensation		1,100			-		-		1,100			-			-			-			-			1,100			-
Treasury stock acquired		(652,078	)		-		-		-			-			-			5,334			(652,078	)		(652,078	)		-
Cash dividends declared		(129,482	)		-		-		-			(129,482	)		-			-			-			(129,482	)		-
Distributions to noncontrolling    interests		(32,237	)		-		-		-			-			-			-			-			-			(32,237	)
BALANCES, October 1, 2022	$	18,824,679			380,154	$	152,061	$	2,128,521		$	23,629,649		$	(103,553	)		123,609		$	(8,098,221	)	$	17,708,457		$	1,116,222

				Nine Months (39 Weeks) Ended October 1, 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		6,753,395			-		-		-			6,351,604			-			-			-			6,351,604			401,791
Other comprehensive income (loss)		11,729			-		-		-			-			11,729			-			-			11,729			-
Stock options exercised		21,604			-		-		(2,489	)		-			-			(421	)		24,093			21,604			-
Stock option expense		4,897			-		-		4,897			-			-			-			-			4,897			-
Issuance of stock under award plans,    net of forfeitures		54,560			-		-		(18,195	)		-			-			(1,194	)		72,755			54,560			-
Amortization of unearned    compensation		3,700			-		-		3,700			-			-			-			-			3,700			-
Treasury stock acquired		(2,359,971	)		-		-		-			-			-			17,482			(2,359,971	)		(2,359,971	)		-
Cash dividends declared		(396,055	)		-		-		-			(396,055	)		-			-			-			(396,055	)		-
Distributions to noncontrolling    interests		(300,772	)		-		-		-			-			-			-			-			-			(300,772	)
Acquisition of noncontrolling interest in CSI		427,798			-		-		-			-			-			-			-			-			427,798
BALANCES, October 1, 2022	$	18,824,679			380,154	$	152,061	$	2,128,521		$	23,629,649		$	(103,553	)		123,609		$	(8,098,221	)	$	17,708,457		$	1,116,222

				Three Months (13 Weeks) Ended October 2, 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, July 3, 2021	$	12,709,651			380,154	$	152,061	$	2,117,155	$	13,550,406		$	(73,729	)		86,459		$	(3,491,915	)	$	12,253,978		$	455,673
Net earnings		2,223,265			-		-		-		2,127,743			-			-			-			2,127,743			95,522
Other comprehensive income (loss)		(12,172	)		-		-		-		-			(12,172	)		-			-			(12,172	)		-
Stock options exercised		15,075			-		-		2,699		-			-			(285	)		12,376			15,075			-
Stock option expense		458			-		-		458		-			-			-			-			458			-
Issuance of stock under award plans,    net of forfeitures		11,629			-		-		10,802		-			-			(19	)		827			11,629			-
Amortization of unearned    compensation		400			-		-		400		-			-			-			-			400			-
Treasury stock acquired		(857,703	)		-		-		-		-			-			8,200			(857,703	)		(857,703	)		-
Cash dividends declared		(116,888	)		-		-		-		(116,888	)		-			-			-			(116,888	)		-
Distributions to noncontrolling    interests		(23,423	)		-		-		-		-			-			-			-			-			(23,423	)
BALANCES, October 2, 2021	$	13,950,292			380,154	$	152,061	$	2,131,514	$	15,561,261		$	(85,901	)		94,355		$	(4,336,415	)	$	13,422,520		$	527,772

				Nine Months (39 Weeks) Ended October 2, 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		4,782,238			-		-		-			4,577,043			-			-			-			4,577,043			205,195
Other comprehensive income (loss)		32,960			-		-		-			-			32,960			-			-			32,960			-
Stock options exercised		143,874			-		-		38,523			-			-			(2,839	)		105,351			143,874			-
Stock option expense		3,367			-		-		3,367			-			-			-			-			3,367			-
Issuance of stock under award plans,    net of forfeitures		8,893			-		-		(32,864	)		-			-			(1,060	)		41,757			8,893			-
Amortization of unearned    compensation		1,200			-		-		1,200			-			-			-			-			1,200			-
Treasury stock acquired		(1,773,848	)		-		-		-			-			-			20,345			(1,773,848	)		(1,773,848	)		-
Cash dividends declared		(359,634	)		-		-		-			(359,634	)		-			-			-			(359,634	)		-
Distributions to noncontrolling    interests		(120,619	)		-		-		-			-			-			-			-			-			(120,619	)
BALANCES, October 2, 2021	$	13,950,292			380,154	$	152,061	$	2,131,514		$	15,561,261		$	(85,901	)		94,355		$	(4,336,415	)	$	13,422,520		$	527,772

Dividends declared per share were $0.50 per share in the third quarter of 2022 ($0.405 per share in the third quarter of 2021) and $1.50 per share in the first nine months of 2022 ($1.215 per share in the first nine months of 2021).

On December 2, 2021, the Company announced that its 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 October 1, 2022, the Company had approximately $1.49 billion available for share repurchases under the program authorized by the Company’s Board of Directors.