CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets
Cash and equivalents	$ 556,527	$ 769,878
Inventories	3,908,120	3,738,516
Other current assets	274,089	293,117
Total current assets	6,795,170	6,484,171
Property, plant and equipment, net	8,549,876	8,569,466
Intangible assets, net	323,489	331,290
Goodwill	477,471	477,471
Other assets	574,213	557,382
Total assets	16,720,219	16,419,780
Current liabilities
Income taxes payable	135,202	67,315
Accrued payroll and benefits	225,703	361,494
Accrued expenses	408,196	427,432
Current maturities of long-term debt	22,124	34,655
Total current liabilities	2,170,719	2,122,254
Long-term debt	4,178,669	4,176,508
Deferred income taxes	1,042,980	1,004,375
Other liabilities	194,449	186,232
Total liabilities	7,586,817	7,489,369
Commitments and contingencies
Redeemable noncontrolling interests	141,226	141,226
Equity
Common stock voting, $0.0025 par value; 900,000,000 shares authorized; 268,694,600 and 268,644,427 shares issued; and 144,443,460 and 144,940,102 shares outstanding, as of March 31, 2026 and December 31, 2025, respectively	653	653
Treasury stock, at cost; 124,251,140 and 123,704,325 shares, as of March 31, 2026 and December 31, 2025, respectively	(8,088,699)	(7,980,549)
Additional paid-in capital	1,237,939	1,248,634
Retained earnings	16,015,823	15,689,042
Accumulated other comprehensive loss	(858)	(598)
Total Steel Dynamics, Inc. equity	9,164,858	8,957,182
Noncontrolling interests	(172,682)	(167,997)
Total equity	8,992,176	8,789,185
Total liabilities and equity	16,720,219	16,419,780
Unrelated parties
Current assets
Accounts receivable	2,050,980	1,680,249
Current liabilities
Accounts payable	1,366,020	1,223,776
Related parties
Current assets
Accounts receivable	5,454	2,411
Current liabilities
Accounts payable	$ 13,474	$ 7,582