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Segments (Tables)
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segments

Nucor’s results by segment were as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

Net sales to external customers:

 

 

 

 

 

 

 

 

 

 

 

 

Steel mills

 

$

24,189,858

 

 

$

24,145,396

 

 

$

12,109,307

 

Steel products

 

 

15,060,328

 

 

 

9,727,943

 

 

 

6,623,068

 

Raw materials

 

 

2,262,281

 

 

 

2,610,600

 

 

 

1,407,283

 

 

 

$

41,512,467

 

 

$

36,483,939

 

 

$

20,139,658

 

Intercompany sales:

 

 

 

 

 

 

 

 

 

 

 

 

Steel mills

 

$

5,859,367

 

 

$

6,297,688

 

 

$

3,036,790

 

Steel products

 

 

547,219

 

 

 

360,063

 

 

 

248,477

 

Raw materials

 

 

13,715,176

 

 

 

15,762,685

 

 

 

8,153,841

 

Corporate/eliminations

 

 

(20,121,762

)

 

 

(22,420,436

)

 

 

(11,439,108

)

 

 

$

 

 

$

 

 

$

 

Depreciation expense:

 

 

 

 

 

 

 

 

 

 

 

 

Steel mills

 

$

529,005

 

 

$

465,733

 

 

$

449,289

 

Steel products

 

 

115,501

 

 

 

99,248

 

 

 

93,184

 

Raw materials

 

 

171,060

 

 

 

159,886

 

 

 

150,474

 

Corporate

 

 

11,126

 

 

 

10,539

 

 

 

9,163

 

 

 

$

826,692

 

 

$

735,406

 

 

$

702,110

 

Amortization expense:

 

 

 

 

 

 

 

 

 

 

 

 

Steel mills

 

$

7,829

 

 

$

7,829

 

 

$

7,334

 

Steel products

 

 

199,379

 

 

 

93,160

 

 

 

47,773

 

Raw materials

 

 

27,734

 

 

 

28,168

 

 

 

28,249

 

 

 

$

234,942

 

 

$

129,157

 

 

$

83,356

 

Earnings before income taxes and noncontrolling

   interests:

 

 

 

 

 

 

 

 

 

 

 

 

Steel mills

 

$

7,199,087

 

 

$

9,735,020

 

 

$

720,151

 

Steel products

 

 

4,093,105

 

 

 

1,291,450

 

 

 

690,547

 

Raw materials

 

 

496,823

 

 

 

549,956

 

 

 

23,621

 

Corporate/eliminations

 

 

(1,544,171

)

 

 

(2,375,568

)

 

 

(598,781

)

 

 

$

10,244,844

 

 

$

9,200,858

 

 

$

835,538

 

Segment assets:

 

 

 

 

 

 

 

 

 

 

 

 

Steel mills

 

$

14,157,229

 

 

$

13,235,463

 

 

$

9,708,260

 

Steel products

 

 

12,087,145

 

 

 

7,845,010

 

 

 

4,461,042

 

Raw materials

 

 

3,383,114

 

 

 

3,870,806

 

 

 

3,324,489

 

Corporate/eliminations

 

 

2,851,722

 

 

 

871,793

 

 

 

2,631,603

 

 

 

$

32,479,210

 

 

$

25,823,072

 

 

$

20,125,394

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

Steel mills

 

$

1,453,277

 

 

$

1,336,276

 

 

$

1,238,132

 

Steel products

 

 

267,128

 

 

 

187,152

 

 

 

135,512

 

Raw materials

 

 

181,680

 

 

 

128,765

 

 

 

125,213

 

Corporate

 

 

50,380

 

 

 

48,171

 

 

 

28,259

 

 

 

$

1,952,465

 

 

$

1,700,364

 

 

$

1,527,116

 

Schedule of Net Sale by Product to External Customers

Net sales by product were as follows (in thousands). Further product group breakdown is impracticable.

 

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

Net sales to external customers:

 

 

 

 

 

 

 

 

 

 

 

 

Sheet

 

$

11,437,799

 

 

$

12,675,679

 

 

$

5,450,507

 

Bar

 

 

7,031,798

 

 

 

6,039,187

 

 

 

3,821,158

 

Structural

 

 

2,928,072

 

 

 

2,597,768

 

 

 

1,526,283

 

Plate

 

 

2,792,188

 

 

 

2,832,762

 

 

 

1,311,360

 

Tubular Products

 

 

1,944,532

 

 

 

2,194,732

 

 

 

1,113,581

 

Rebar Fabrication

 

 

2,205,960

 

 

 

1,794,658

 

 

 

1,708,441

 

Joist

 

 

2,958,235

 

 

 

1,351,235

 

 

 

758,853

 

Deck

 

 

2,392,438

 

 

 

1,167,162

 

 

 

717,276

 

Other Steel Products

 

 

5,559,164

 

 

 

3,220,155

 

 

 

2,324,916

 

Raw Materials

 

 

2,262,281

 

 

 

2,610,601

 

 

 

1,407,283

 

 

 

$

41,512,467

 

 

$

36,483,939

 

 

$

20,139,658