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Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Information

Schedule of Operating Segment Results

The company’s segment results, with prior periods recast consistent with our current reportable segments presentation, including disaggregated revenue by segment to external, external non-United States, and other segment customers, are as follows (in thousands):



					Metals			Steel
For the three-month period ended		Steel			Recycling			Fabrication			Aluminum
September 30, 2024		Operations			Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	2,745,491		$	394,656		$	446,663		$	-		$	402,290		$	-		$	3,989,100
External Non-U.S.			171,530			170,940			602			-			9,443			-			352,515
Other segments			106,987			526,966			2,538			4,169			-			(640,660)			-
			3,024,008			1,092,562			449,803			4,169			411,733			(640,660)			4,341,615
Operating income (loss)			301,254			7,709			165,592			(23,593)			(60,154)	⁽¹⁾		4,629			395,437
Income (loss) before income taxes			302,442			6,578			165,153			(25,616)			(24,653)			(15,879)			408,025
Depreciation and amortization			91,114			19,216			2,829			655			7,238			-			121,052
Capital expenditures			121,037			18,601			5,379			475,886			20,518			(20,066)			621,355

As of September 30, 2024
Assets		$	8,722,673		$	1,554,249		$	718,199		$	2,358,956		$	3,861,117	⁽²⁾	$	(1,555,373)	⁽³⁾	$	15,659,821


Footnotes related to the three-month period ended September 30, 2024, segment results (in millions):

(1)	Corporate selling, general, & administrative expenses	$	(22.7)		(2)	Cash and equivalents	$	848.8
	Companywide equity-based compensation		(12.9)			Short-term and other investments		883.5
	Company profit sharing component		(34.4)			Accounts receivable		52.5
	Other, net		9.8			Inventories		107.1
		$	(60.2)			Property, plant and equipment, net		151.7
						Intra-company debt		1,416.2
						Investments in unconsolidated affiliates		224.4
						Other		176.9
							$	3,861.1

(3)	Elimination of intra-company receivables	$	(88.9)
	Elimination of intra-company debt		(1,416.2)
	Other		(50.3)
		$	(1,555.4)



					Metals			Steel
For the three-month period ended		Steel			Recycling			Fabrication			Aluminum
September 30, 2023		Operations			Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	2,904,204		$	334,922		$	630,045		$	-		$	247,123		$	-		$	4,116,294
External Non-U.S.			282,977			185,824			139			-			1,823			-			470,763
Other segments			106,175			531,559			3,023			-			172			(640,929)			-
			3,293,356			1,052,305			633,207			-			249,118			(640,929)			4,587,057
Operating income (loss)			478,740			13,981			330,020			(7,172)			(90,441)	⁽¹⁾		8,422			733,550
Income (loss) before income taxes			481,047			15,319			329,554			(7,142)			(72,224)			8,045			754,599
Depreciation and amortization			81,600			17,195			2,448			3			6,172			-			107,418
Capital expenditures			111,843			83,858			5,581			342,969			14,110			-			558,361


Footnotes related to the three-month period ended September 30, 2023, segment results (in millions):

(1)	Corporate selling, general, & administrative expenses	$	(20.7)
	Companywide equity-based compensation		(11.5)
	Company profit sharing component		(63.6)
	Other, net		5.4
		$	(90.4)



					Metals			Steel
For the nine-month period ended		Steel			Recycling			Fabrication			Aluminum
September 30, 2024		Operations			Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	8,817,086		$	1,178,276		$	1,365,549		$	-		$	1,149,613		$	-		$	12,510,524
External Non-U.S.			598,404			543,225			1,727			-			14,372			-			1,157,728
Other segments			371,008			1,637,308			8,026			6,034			-			(2,022,376)			-
			9,786,498			3,358,809			1,375,302			6,034			1,163,985			(2,022,376)			13,668,252
Operating income (loss)			1,410,805			54,662			524,672			(56,372)			(231,961)	⁽¹⁾		3,729			1,705,535
Income (loss) before income taxes			1,416,794			50,649			523,384			(60,256)			(151,269)			(40,384)			1,738,918
Depreciation and amortization			266,118			57,113			8,288			1,182			20,656			-			353,357
Capital expenditures			348,532			66,659			18,524			985,484			38,462			(42,830)			1,414,831


Footnotes related to the nine-month period ended September 30, 2024, segment results (in millions):

(1)	Corporate selling, general, & administrative expenses	$	(72.7)
	Companywide equity-based compensation		(40.0)
	Company profit sharing component		(145.7)
	Other, net		26.4
		$	(232.0)



					Metals			Steel
For the nine-month period ended		Steel			Recycling			Fabrication			Aluminum
September 30, 2023		Operations			Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	8,874,964		$	1,086,286		$	2,278,121		$	-		$	859,317		$	-		$	13,098,688
External Non-U.S.			850,262			610,301			240			-			2,402			-			1,463,205
Other segments			335,271			1,685,770			3,248			-			441			(2,024,730)			-
			10,060,497			3,382,357			2,281,609			-			862,160			(2,024,730)			14,561,893
Operating income (loss)			1,520,367			86,674			1,343,372			(13,004)			(308,077)	⁽¹⁾		3,313			2,632,645
Income (loss) before income taxes			1,525,805			99,093			1,343,173			(12,935)			(280,602)			2,170			2,676,704
Depreciation and amortization			246,833			52,321			7,201			3			19,724			-			326,082
Capital expenditures			334,340			128,814			17,215			636,887			25,704			-			1,142,960


Footnotes related to the nine-month period ended September 30, 2023, segment results (in millions):

(1)	Corporate SG&A	$	(66.9)
	Companywide equity-based compensation		(36.3)
	Company profit sharing component		(220.5)
	Other, net		15.6
		$	(308.1)