Goodwill and Other Intangible Assets

3 Months Ended

Apr. 05, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

4. Goodwill and Other Intangible Assets

The change in the carrying amount of goodwill for the three months ended April 5, 2025 by segment was as follows (in millions):


	Steel Mills		Steel Products			Raw Materials		Total
Balance at December 31, 2024	$	675	$	2,816		$	797	$	4,288
Translation		-		(1	)		-		(1	)
Balance at April 5, 2025	$	675	$	2,815		$	797	$	4,287

Nucor completed its most recent annual goodwill impairment testing as of the first day of the fourth quarter of 2024 and concluded that as of such date there was no impairment of goodwill for any of its reporting units.

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 April 5, 2025 and December 31, 2024 (in millions):


	April 5, 2025				December 31, 2024
	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Customer relationships	$	4,444	$	1,568	$	4,444	$	1,512
Trademarks and trade names		387		198		387		192
Other		129		125		129		122
	$	4,960	$	1,891	$	4,960	$	1,826

Intangible asset amortization expense in the first quarter of 2025 and 2024 was $65 million and $59 million, respectively. Annual amortization expense is estimated to be $253 million in 2025; $248 million in 2026; $245 million in 2027; $223 million in 2028; and $202 million in 2029.