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Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Change in Net Carrying Amount of Goodwill by Segment

The change in the net carrying amount of goodwill for the years ended December 31, 2022 and 2021 by segment is as follows:

 

 

 

(in thousands)

 

 

 

Steel

 

 

Steel

 

 

Raw

 

 

 

 

 

 

 

Mills

 

 

Products

 

 

Materials

 

 

Total

 

Balance, December 31, 2020

 

$

612,470

 

 

$

887,625

 

 

$

729,577

 

 

$

2,229,672

 

Acquisitions

 

 

705

 

 

 

553,704

 

 

 

44,718

 

 

 

599,127

 

Translation

 

 

 

 

 

(1,455

)

 

 

 

 

 

(1,455

)

Balance, December 31, 2021

 

 

613,175

 

 

 

1,439,874

 

 

 

774,295

 

 

 

2,827,344

 

Acquisitions

 

 

62,011

 

 

 

1,087,906

 

 

 

 

 

 

1,149,917

 

Divestitures

 

 

 

 

 

 

 

 

(39,466

)

 

 

(39,466

)

Translation

 

 

 

 

 

(17,735

)

 

 

 

 

 

(17,735

)

Balance, December 31, 2022

 

$

675,186

 

 

$

2,510,045

 

 

$

734,829

 

 

$

3,920,060

 

Schedule of Intangible Assets

 

 

 

(in thousands)

 

 

 

December 31, 2022

 

 

December 31, 2021

 

 

 

Gross

 

 

Accumulated

 

 

Gross

 

 

Accumulated

 

 

 

Amount

 

 

Amortization

 

 

Amount

 

 

Amortization

 

Customer relationships

 

$

4,174,724

 

 

$

1,087,834

 

 

$

1,872,348

 

 

$

924,506

 

Trademarks and trade names

 

 

364,106

 

 

 

142,363

 

 

 

217,255

 

 

 

99,906

 

Other

 

 

109,746

 

 

 

96,114

 

 

 

105,522

 

 

 

66,954

 

 

 

$

4,648,576

 

 

$

1,326,311

 

 

$

2,195,125

 

 

$

1,091,366