Stockholders' Equity

9 Months Ended

Sep. 28, 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 nine months ended September 28, 2024 and September 30, 2023 (in thousands):

				Three Months (13 Weeks) Ended September 28, 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, 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
Net earnings before noncontrolling interests		302,825			-		-		-		249,910			-			-			-			249,910			52,915
Other comprehensive income (loss)		9,405			-		-		-		-			9,405			-			-			9,405			-
Stock options exercised		-			-		-		-		-			-			-			-			-			-
Stock option expense		346			-		-		346		-			-			-			-			346			-
Issuance of stock under award plans,    net of forfeitures		18,575			-		-		15,627		-			-			(40	)		2,948			18,575			-
Amortization of unearned    compensation		2,584			-		-		2,584		-			-			-			-			2,584			-
Treasury stock acquired and net impact of excise tax		(403,409	)		-		-		-		-			-			2,565			(403,409	)		(403,409	)		-
Cash dividends declared		(128,078	)		-		-		-		(128,078	)		-			-			-			(128,078	)		-
Distributions to noncontrolling    interests		(18,215	)		-		-		-		-			-			-			-			-			(18,215	)
BALANCES, September 28, 2024	$	21,556,541			380,154	$	152,061	$	2,207,928	$	30,113,666		$	(168,233	)		145,341		$	(11,832,564	)	$	20,472,858		$	1,083,683

				Nine Months (39 Weeks) Ended September 28, 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		1,973,930			-		-		-			1,739,968			-			-			-			1,739,968			233,962
Other comprehensive income (loss)		(6,161	)		-		-		-			-			(6,161	)		-			-			(6,161	)		-
Stock options exercised		2,880			-		-		(1,570	)		-			-			(58	)		4,450			2,880			-
Stock option expense		4,364			-		-		4,364			-			-			-			-			4,364			-
Issuance of stock under award plans,    net of forfeitures		90,865			-		-		21,207			-			-			(886	)		69,658			90,865			-
Amortization of unearned    compensation		7,684			-		-		7,684			-			-			-			-			7,684			-
Treasury stock acquired and net impact of excise tax		(1,919,029	)		-		-		-			-			-			11,033			(1,919,029	)		(1,919,029	)		-
Cash dividends declared		(388,347	)		-		-		-			(388,347	)		-			-			-			(388,347	)		-
Distributions to noncontrolling    interests		(333,399	)		-		-		-			-			-			-			-			-			(333,399	)
BALANCES, September 28, 2024	$	21,556,541			380,154	$	152,061	$	2,207,928		$	30,113,666		$	(168,233	)		145,341		$	(11,832,564	)	$	20,472,858		$	1,083,683

				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

Dividends declared per share were $0.54 per share in the third quarter of 2024 ($0.51 per share in the third quarter of 2023) and $1.62 per share in the first nine months of 2024 ($1.53 per share in the first nine 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 September 28, 2024, the Company had approximately $1.42 billion available for share repurchases under the program authorized by the Company’s Board of Directors.