Stockholders' Equity

6 Months Ended

Jun. 29, 2024

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”), California Steel Industries, Inc. (“CSI”) and NJSM - in each of which Nucor owns 51% (the third of which Nucor acquired an additional 1% interest in the fourth quarter of 2023, bringing its total equity ownership to a 51% controlling interest), for the three months and six months ended June 29, 2024 and July 1, 2023 (in thousands):

				Three Months (13 Weeks) Ended June 29, 2024
														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, March 30, 2024	$	21,725,519			380,154	$	152,061	$	2,210,823		$	29,476,087		$	(177,440	)		140,392		$	(10,967,818	)	$	20,693,713		$	1,031,806
Net earnings before noncontrolling interests		712,143			-		-		-			645,217			-			-			-			645,217			66,926
Other comprehensive income (loss)		(198	)		-		-		-			-			(198	)		-			-			(198	)		-
Stock options exercised		192			-		-		(121	)		-			-			(4	)		313			192			-
Stock option expense		3,626			-		-		3,626			-			-			-			-			3,626			-
Issuance of stock under award plans,    net of forfeitures		12,326			-		-		(27,457	)		-			-			(501	)		39,783			12,326			-
Amortization of unearned    compensation		2,500			-		-		2,500			-			-			-			-			2,500			-
Treasury stock acquired		(504,381	)		-		-		-			-			-			2,929			(504,381	)		(504,381	)		-
Cash dividends declared		(129,470	)		-		-		-			(129,470	)		-			-			-			(129,470	)		-
Distributions to noncontrolling    interests		(49,749	)		-		-		-			-			-			-			-			-			(49,749	)
BALANCES, June 29, 2024	$	21,772,508			380,154	$	152,061	$	2,189,371		$	29,991,834		$	(177,638	)		142,816		$	(11,432,103	)	$	20,723,525		$	1,048,983

				Six Months (26 Weeks) Ended June 29, 2024
														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, 2023	$	22,123,754			380,154	$	152,061	$	2,176,243		$	28,762,045		$	(162,072	)		135,252		$	(9,987,643	)	$	20,940,634		$	1,183,120
Net earnings before noncontrolling interests		1,671,105			-		-		-			1,490,058			-			-			-			1,490,058			181,047
Other comprehensive income (loss)		(15,566	)		-		-		-			-			(15,566	)		-			-			(15,566	)		-
Stock options exercised		2,880			-		-		(1,570	)		-			-			(58	)		4,450			2,880			-
Stock option expense		4,018			-		-		4,018			-			-			-			-			4,018			-
Issuance of stock under award plans,    net of forfeitures		72,290			-		-		5,580			-			-			(845	)		66,710			72,290			-
Amortization of unearned    compensation		5,100			-		-		5,100			-			-			-			-			5,100			-
Treasury stock acquired		(1,515,620	)		-		-		-			-			-			8,467			(1,515,620	)		(1,515,620	)		-
Cash dividends declared		(260,269	)		-		-		-			(260,269	)		-			-			-			(260,269	)		-
Distributions to noncontrolling    interests		(315,184	)		-		-		-			-			-			-			-			-			(315,184	)
BALANCES, June 29, 2024	$	21,772,508			380,154	$	152,061	$	2,189,371		$	29,991,834		$	(177,638	)		142,816		$	(11,432,103	)	$	20,723,525		$	1,048,983

				Three Months (13 Weeks) Ended July 1, 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, April 1, 2023	$	19,929,870			380,154	$	152,061	$	2,168,770		$	25,762,032		$	(165,358	)		128,930		$	(8,900,124	)	$	19,017,381		$	912,489
Net earnings before noncontrolling interests		1,587,075			-		-		-			1,461,354			-			-			-			1,461,354			125,721
Other comprehensive income (loss)		36,386			-		-		-			-			36,386			-			-			36,386			-
Stock options exercised		-			-		-					-			-			-			-			-			-
Stock option expense		3,447			-		-		3,447			-			-			-			-			3,447			-
Issuance of stock under award plans,    net of forfeitures		16,149			-		-		(24,025	)		-			-			(566	)		40,174			16,149			-
Amortization of unearned    compensation		1,501			-		-		1,501			-			-			-			-			1,501			-
Treasury stock acquired		(454,814	)		-		-		-			-			-			3,067			(454,814	)		(454,814	)		-
Cash dividends declared		(127,725	)		-		-		-			(127,725	)		-			-			-			(127,725	)		-
Distributions to noncontrolling    interests		(50,961	)		-		-		-			-			-			-			-			-			(50,961	)
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

				Six Months (26 Weeks) Ended July 1, 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		2,818,704			-		-		-			2,597,896			-			-			-			2,597,896			220,808
Other comprehensive income (loss)		8,545			-		-		-			-			8,545			-			-			8,545			-
Stock options exercised		7,123			-		-		(1,749	)		-			-			(131	)		8,872			7,123			-
Stock option expense		3,922			-		-		3,922			-			-			-			-			3,922			-
Issuance of stock under award plans,    net of forfeitures		59,969			-		-		735			-			-			(889	)		59,234			59,969			-
Amortization of unearned    compensation		3,265			-		-		3,265			-			-			-			-			3,265			-
Treasury stock acquired		(884,627	)		-		-		-			-			-			5,790			(884,627	)		(884,627	)		-
Cash dividends declared		(257,108	)		-		-		-			(257,108	)		-			-			-			(257,108	)		-
Distributions to noncontrolling    interests		(388,771	)		-		-		-			-			-			-			-			-			(388,771	)
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

Dividends declared were $0.54 per share in the second quarter of 2024 ($0.51 per share in the second quarter of 2023) and $1.08 per share in the first six months of 2024 ($1.02 per share in the first six months of 2023).

On May 11, 2023, the Company announced that its Board of Directors had approved a 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 are 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 June 29, 2024, the Company had approximately $1.82 billion available for share repurchases under the program authorized by the Company’s Board of Directors.