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Segments | 6 Months Ended
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Jul. 04, 2015
Segment Reporting [Abstract] |
Segments |
17. | 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 foundation distributors; steel trading businesses; rebar distribution businesses; and Nucor’s equity method investments in Duferdofin Nucor and NuMit. The steel products segment includes steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems, steel grating and expanded metal, and wire and wire mesh. The raw materials segment includes DJJ, primarily a scrap broker and processor; Nu-Iron Unlimited and Nucor Steel Louisiana, two facilities that produce DRI used by the steel mills; our natural gas working interests; and Nucor’s equity method investment in Hunter Ridge. The steel mills, steel products and raw materials segments are consistent with the way Nucor manages its business, which is primarily based upon the similarity of the types of products produced and sold by each segment. During the second quarter of 2015, the Company continued to perform certain internal reorganization activities that began in the first quarter of 2015. In connection with this process, the financial information utilized by the Chief Operating Decision Maker when assessing segment performance and making resource allocations was adjusted in a way that affected how certain assets are grouped. This resulted in certain assets being reclassified between the steel mills segment, steel products segment, raw materials segment and corporate/eliminations in order to align with the approach management uses to assess the performance of those segments. The segment data for the comparable periods has also been reclassified in order to conform to the current period presentation. These reclassifications did not have any impact on the consolidated asset balances nor did they impact any segment income statement amounts.
Net interest expense, other income, profit sharing expense, stock-based compensation and changes in the LIFO reserve are shown under Corporate/eliminations. Corporate assets primarily include cash and cash equivalents, short-term investments, allowances to eliminate intercompany profit in inventory, deferred income tax assets, federal and state income taxes receivable, the LIFO reserve and investments in and advances to affiliates. Nucor’s results by segment were as follows (in thousands):
|  | Three Months (13 Weeks) Ended |  |  | Six Months (26 Weeks) Ended |
|  | July 4, 2015 |  |  | July 5, 2014 |  |  | July 4, 2015 |  |  | July 5, 2014 |
Net sales to external customers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Steel mills |  | $ | 2,968,644 |  |  | $ | 3,674,140 |  |  | $ | 6,021,983 |  |  | $ | 7,281,904 |
Steel products |  |  | 1,015,646 |  |  |  | 1,035,923 |  |  |  | 1,937,030 |  |  |  | 1,910,092 |
Raw materials |  |  | 373,319 |  |  |  | 581,012 |  |  |  | 798,036 |  |  |  | 1,207,523 |
|  | $ | 4,357,609 |  |  | $ | 5,291,075 |  |  | $ | 8,757,049 |  |  | $ | 10,399,519 |
Intercompany sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Steel mills |  | $ | 577,271 |  |  | $ | 742,200 |  |  | $ | 1,152,254 |  |  | $ | 1,451,066 |
Steel products |  |  | 21,020 |  |  |  | 26,542 |  |  |  | 40,517 |  |  |  | 48,042 |
Raw materials |  |  | 1,687,941 |  |  |  | 2,443,492 |  |  |  | 3,520,859 |  |  |  | 4,971,498 |
Corporate/eliminations |  |  | (2,286,232 | ) |  |  | (3,212,234 | ) |  |  | (4,713,630 | ) |  |  | (6,470,606 | )
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Earnings (loss) before income taxes and noncontrolling interests: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Steel mills |  | $ | 198,500 |  |  | $ | 368,138 |  |  | $ | 415,628 |  |  | $ | 685,935 |
Steel products |  |  | 70,636 |  |  |  | 42,612 |  |  |  | 103,094 |  |  |  | 44,332 |
Raw materials |  |  | (38,104 | ) |  |  | (9,635 | ) |  |  | (79,601 | ) |  |  | (1,276 | )
Corporate/eliminations |  |  | (14,810 | ) |  |  | (159,250 | ) |  |  | (103,854 | ) |  |  | (279,625 | )
|  | $ | 216,222 |  |  | $ | 241,865 |  |  | $ | 335,267 |  |  | $ | 449,366 |
|  | July 4, 2015 |  |  | Dec. 31, 2014 |  |  |  |  |  |  |
Segment assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Steel mills |  | $ | 7,900,573 |  |  | $ | 8,528,623 |  |  |  |  |  |  |  |  |
Steel products |  |  | 2,708,522 |  |  |  | 2,731,320 |  |  |  |  |  |  |  |  |
Raw materials |  |  | 3,590,917 |  |  |  | 3,858,254 |  |  |  |  |  |  |  |  |
Corporate/eliminations |  |  | 868,165 |  |  |  | 497,730 |  |  |  |  |  |  |  |  |
|  | $ | 15,068,177 |  |  | $ | 15,615,927 |  |  |  |  |  |  |  |  |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 + Details
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