Stockholders' Equity

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Stockholders' Equity

12. Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity attributable to Nucor and the noncontrolling interests of Nucor’s joint ventures, Nucor-Yamato Steel Company (Limited Partnership) (“NYS”) and California Steel Industries, Inc. (“CSI”), in both of which Nucor owns 51%, for the three months and nine months ended September 30, 2023 and October 1, 2022 (in thousands):

				Three Months (13 Weeks) Ended September 30, 2023
														Accumulated									Total
								Additional						Other			Treasury Stock						Nucor
				Common Stock				Paid-in			Retained			Comprehensive			(at cost)						Stockholders'			Noncontrolling
	Total			Shares		Amount		Capital			Earnings			Income (Loss)			Shares			Amount			Equity			Interests
BALANCES, July 1, 2023	$	20,940,928			380,154	$	152,061	$	2,149,693		$	27,095,661		$	(128,972	)		131,431		$	(9,314,764	)	$	19,953,679		$	987,249
Net earnings before noncontrolling interests		1,221,255			-		-		-			1,141,506			-			-			-			1,141,506			79,749
Other comprehensive income (loss)		(19,855	)		-		-		-			-			(19,855	)		-			-			(19,855	)		-
Stock options exercised		3,227			-		-		(386	)		-			-			(50	)		3,613			3,227			-
Stock option expense		392			-		-		392			-			-			-			-			392			-
Issuance of stock under award plans,    net of forfeitures		16,353			-		-		14,337			-			-			(28	)		2,016			16,353			-
Amortization of unearned    compensation		1,599			-		-		1,599			-			-			-			-			1,599			-
Treasury stock acquired and net impact of excise tax		(504,242	)		-		-		-			-			-			2,962			(504,242	)		(504,242	)		-
Cash dividends declared		(126,942	)		-		-		-			(126,942	)		-			-			-			(126,942	)		-
Distributions to noncontrolling    interests		(23,633	)		-		-		-			-			-			-			-			-			(23,633	)
BALANCES, September 30, 2023	$	21,509,082			380,154	$	152,061	$	2,165,635		$	28,110,225		$	(148,827	)		134,315		$	(9,813,377	)	$	20,465,717		$	1,043,365

				Nine Months (39 Weeks) Ended September 30, 2023
														Accumulated									Total
								Additional						Other			Treasury Stock						Nucor
				Common Stock				Paid-in			Retained			Comprehensive			(at cost)						Stockholders'			Noncontrolling
	Total			Shares		Amount		Capital			Earnings			Income (Loss)			Shares			Amount			Equity			Interests
BALANCES, December 31, 2022	$	19,569,906			380,154	$	152,061	$	2,143,520		$	24,754,873		$	(137,517	)		126,661		$	(8,498,243	)	$	18,414,694		$	1,155,212
Net earnings before noncontrolling interests		4,039,959			-		-		-			3,739,402			-			-			-			3,739,402			300,557
Other comprehensive income (loss)		(11,310	)		-		-		-			-			(11,310	)		-			-			(11,310	)		-
Stock options exercised		10,350			-		-		(2,135	)		-			-			(181	)		12,485			10,350			-
Stock option expense		4,314			-		-		4,314			-			-			-			-			4,314			-
Issuance of stock under award plans,    net of forfeitures		76,322			-		-		15,072			-			-			(917	)		61,250			76,322			-
Amortization of unearned    compensation		4,864			-		-		4,864			-			-			-			-			4,864			-
Treasury stock acquired and net impact of excise tax		(1,388,869	)		-		-		-			-			-			8,752			(1,388,869	)		(1,388,869	)		-
Cash dividends declared		(384,050	)		-		-		-			(384,050	)		-			-			-			(384,050	)		-
Distributions to noncontrolling    interests		(412,404	)		-		-		-			-			-			-			-			-			(412,404	)
BALANCES, September 30, 2023	$	21,509,082			380,154	$	152,061	$	2,165,635		$	28,110,225		$	(148,827	)		134,315		$	(9,813,377	)	$	20,465,717		$	1,043,365

				Three Months (13 Weeks) Ended October 1, 2022
														Accumulated									Total
								Additional						Other			Treasury Stock						Nucor
				Common Stock				Paid-in			Retained			Comprehensive			(at cost)						Stockholders'			Noncontrolling
	Total			Shares		Amount		Capital			Earnings			Income (Loss)			Shares			Amount			Equity			Interests
BALANCES, July 2, 2022	$	17,852,808			380,154	$	152,061	$	2,115,178		$	22,064,383		$	(70,810	)		118,368		$	(7,452,168	)	$	16,808,644		$	1,044,164
Net earnings before noncontrolling interests		1,799,043			-		-		-			1,694,748			-			-			-			1,694,748			104,295
Other comprehensive income (loss)		(32,743	)		-		-		-			-			(32,743	)		-			-			(32,743	)		-
Stock options exercised		2,784			-		-		(1,181	)		-			-			(62	)		3,965			2,784			-
Stock option expense		475			-		-		475			-			-			-			-			475			-
Issuance of stock under award plans,    net of forfeitures		15,009			-		-		12,949			-			-			(31	)		2,060			15,009			-
Amortization of unearned    compensation		1,100			-		-		1,100			-			-			-			-			1,100			-
Treasury stock acquired		(652,078	)		-		-		-			-			-			5,334			(652,078	)		(652,078	)		-
Cash dividends declared		(129,482	)		-		-		-			(129,482	)		-			-			-			(129,482	)		-
Distributions to noncontrolling    interests		(32,237	)		-		-		-			-			-			-			-			-			(32,237	)
BALANCES, October 1, 2022	$	18,824,679			380,154	$	152,061	$	2,128,521		$	23,629,649		$	(103,553	)		123,609		$	(8,098,221	)	$	17,708,457		$	1,116,222

				Nine Months (39 Weeks) Ended October 1, 2022
														Accumulated									Total
								Additional						Other			Treasury Stock						Nucor
				Common Stock				Paid-in			Retained			Comprehensive			(at cost)						Stockholders'			Noncontrolling
	Total			Shares		Amount		Capital			Earnings			Income (Loss)			Shares			Amount			Equity			Interests
BALANCES, December 31, 2021	$	14,603,794			380,154	$	152,061	$	2,140,608		$	17,674,100		$	(115,282	)		107,742		$	(5,835,098	)	$	14,016,389		$	587,405
Net earnings before noncontrolling interests		6,753,395			-		-		-			6,351,604			-			-			-			6,351,604			401,791
Other comprehensive income (loss)		11,729			-		-		-			-			11,729			-			-			11,729			-
Stock options exercised		21,604			-		-		(2,489	)		-			-			(421	)		24,093			21,604			-
Stock option expense		4,897			-		-		4,897			-			-			-			-			4,897			-
Issuance of stock under award plans,    net of forfeitures		54,560			-		-		(18,195	)		-			-			(1,194	)		72,755			54,560			-
Amortization of unearned    compensation		3,700			-		-		3,700			-			-			-			-			3,700			-
Treasury stock acquired		(2,359,971	)		-		-		-			-			-			17,482			(2,359,971	)		(2,359,971	)		-
Cash dividends declared		(396,055	)		-		-		-			(396,055	)		-			-			-			(396,055	)		-
Distributions to noncontrolling    interests		(300,772	)		-		-		-			-			-			-			-			-			(300,772	)
Acquisition of noncontrolling interest in CSI		427,798			-		-		-			-			-			-			-			-			427,798
BALANCES, October 1, 2022	$	18,824,679			380,154	$	152,061	$	2,128,521		$	23,629,649		$	(103,553	)		123,609		$	(8,098,221	)	$	17,708,457		$	1,116,222

Dividends declared per share were $0.51 per share in the third quarter of 2023 ($0.50 per share in the third quarter of 2022) and $1.53 per share in the first nine months of 2023 ($1.50 per share in the first nine months of 2022).

On May 11, 2023, the Company announced that its Board of Directors had approved a new share repurchase program under which the Company is authorized to repurchase up to $4.00 billion of the Company’s common stock and terminated all previously authorized share repurchase programs. Share repurchases will be made from time to time in the open market at prevailing market prices or through private transactions or block trades. The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements and other factors. The share repurchase authorization is discretionary and has no expiration date. As of September 30, 2023, the Company had approximately $3.50 billion available for share repurchases under the program authorized by the Company’s Board of Directors.