Property, Plant and Equipment

6 Months Ended

Jun. 29, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

3. Property, Plant and Equipment

Property, plant and equipment is recorded net of accumulated depreciation of $12.25 billion at June 29, 2024 ($11.79 billion at December 31, 2023).

Included within property, plant and equipment, net, of the steel mills segment at June 29, 2024 is $244.2 million of assets, net of accumulated depreciation, related to our joint venture Nucor-JFE Steel Mexico, S. de R.L. de C.V. (“NJSM”). If NJSM’s financial performance continues to underperform its forecasts, management may determine that a triggering event has occurred and will perform an impairment assessment to determine if the carrying amount of NJSM’s property, plant and equipment, net, exceeds its projected undiscounted cash flows. A future assessment may result in the impairment of part or all of the carrying value of NJSM’s property, plant and equipment, net.