CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets
Cash and equivalents	$ 770,356	$ 589,464
Short-term investments		147,811
Inventories	3,195,660	3,113,733
Other current assets	351,428	163,131
Total current assets	6,079,405	5,431,338
Property, plant and equipment, net	8,493,550	8,117,988
Intangible assets, net	206,549	227,234
Goodwill	477,471	477,471
Other assets	708,055	681,202
Total assets	15,965,030	14,935,233
Current liabilities
Income taxes payable	3,088	3,783
Accrued payroll and benefits	302,245	373,216
Accrued expenses	435,199	366,682
Current maturities of long-term debt	1,429	426,990
Total current liabilities	1,956,726	2,150,583
Long-term debt	3,781,026	2,804,017
Deferred income taxes	1,105,134	902,186
Other liabilities	151,819	133,201
Total liabilities	6,994,705	5,989,987
Commitments and contingencies
Redeemable noncontrolling interests	141,226	171,212
Equity
Common stock voting, $0.0025 par value; 900,000,000 shares authorized; 268,417,974 and 268,377,165 shares issued; and 146,156,096 and 151,117,153 shares outstanding, as of September 30, 2025 and December 31, 2024, respectively	652	652
Treasury stock, at cost; 122,261,878 and 117,260,012 shares, as of September 30, 2025 and December 31, 2024, respectively	(7,743,046)	(7,094,266)
Additional paid-in capital	1,243,261	1,229,819
Retained earnings	15,495,603	14,798,082
Accumulated other comprehensive loss	(1,328)
Total Steel Dynamics, Inc. equity	8,995,142	8,934,287
Noncontrolling interests	(166,043)	(160,253)
Total equity	8,829,099	8,774,034
Total liabilities and equity	15,965,030	14,935,233
Unrelated parties
Current assets
Accounts receivable, net	1,697,298	1,362,969
Current liabilities
Accounts payable	1,201,459	972,645
Related parties
Current assets
Accounts receivable, net	64,663	54,230
Current liabilities
Accounts payable	$ 13,306	$ 7,267