Segments

9 Months Ended

Sep. 28, 2024

Segment Reporting [Abstract]

Segments

14. Segments

Nucor reports its results in the following segments: steel mills, steel products and raw materials. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading and rebar distribution businesses; and Nucor’s equity method investment in NuMit LLC (“NuMit”). The steel products segment includes steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, precision castings, steel fasteners, metal building systems, insulated metal panels, overhead doors, steel grating, tubular products, steel racking, piling products, wire and wire mesh, and utility towers and structures. The raw materials segment includes The David J. Joseph Company and its affiliates (“DJJ”), primarily a scrap broker and processor; Nu-Iron Unlimited and Nucor Steel Louisiana LLC (“Nucor Steel Louisiana”), two facilities that produce direct reduced iron (“DRI”) used by the steel mills; and our natural gas production operations.

Corporate/eliminations include items such as net interest expense (income), charges and credits associated with changes in allowances to eliminate intercompany profit in inventory, profit sharing expense and stock-based compensation. Corporate assets primarily include cash and cash equivalents, short-term investments, restricted cash and

cash equivalents, allowances to eliminate intercompany profit in inventory, deferred income tax assets, federal and state income taxes receivable and investments in and advances to affiliates.

Nucor’s results by segment for the third quarter and first nine months of 2024 and 2023 were as follows (in thousands):

	Three Months (13 Weeks) Ended						Nine Months (39 Weeks) Ended
	September 28, 2024			September 30, 2023			September 28, 2024			September 30, 2023
Net sales to external customers:
Steel mills	$	4,459,509		$	5,091,479		$	14,486,492		$	15,636,508
Steel products		2,496,160			3,235,969			7,715,804			9,954,828
Raw materials		488,491			448,286			1,456,119			1,417,634
	$	7,444,160		$	8,775,734		$	23,658,415		$	27,008,970
Intercompany sales:
Steel mills	$	983,070		$	1,201,648		$	3,405,794		$	3,726,346
Steel products		124,159			132,481			416,628			333,099
Raw materials		2,743,191			2,894,079			8,602,394			9,653,600
Corporate/eliminations		(3,850,420	)		(4,228,208	)		(12,424,816	)		(13,713,045	)
	$	-		$	-		$	-		$	-
Earnings before income taxes and    noncontrolling interests:
Steel mills	$	309,123		$	882,614		$	2,056,689		$	3,124,549
Steel products		313,972			806,731			1,266,922			2,788,322
Raw materials		(66,332	)		71,367			(17,355	)		267,918
Corporate/eliminations		(168,490	)		(212,630	)		(794,479	)		(986,141	)
	$	388,273		$	1,548,082		$	2,511,777		$	5,194,648

	September 28, 2024		December 31, 2023
Segment assets:
Steel mills	$	16,122,916	$	15,407,266
Steel products		11,516,513		10,914,870
Raw materials		3,406,496		3,546,759
Corporate/eliminations		3,300,266		5,471,604
	$	34,346,191	$	35,340,499