Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 28, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Change in Net Carrying Amount of Goodwill by Segment

The change in the net carrying amount of goodwill for the nine months ended September 28, 2024 by segment was as follows (in thousands):

	Steel Mills		Steel Products			Raw Materials			Total
Balance at December 31, 2023	$	675,186	$	2,514,172		$	779,489		$	3,968,847
Acquisitions		-		316,790			(8,166	)		308,624
Translation/Other		-		(3,861	)		-			(3,861	)
Balance at September 28, 2024	$	675,186	$	2,827,101		$	771,323		$	4,273,610

Schedule of Intangible Assets

Intangible assets with estimated useful lives of five to 25 years are amortized on a straight-line or accelerated basis and consisted of the following as of September 28, 2024 and December 31, 2023 (in thousands):

	September 28, 2024				December 31, 2023
	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Customer relationships	$	4,431,078	$	1,455,570	$	4,190,156	$	1,295,778
Trademarks and trade names		387,219		186,217		372,153		168,363
Other		129,151		111,400		109,747		99,900
	$	4,947,448	$	1,753,187	$	4,672,056	$	1,564,041