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Restricted Cash and Cash Equivalents | 12 Months Ended
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Dec. 31, 2020
Restricted Cash And Cash Equivalents [Abstract] |
Restricted Cash and Cash Equivalents | 24. Restricted Cash and Cash Equivalents As of December 31, 2020, restricted cash and cash equivalents totaled $115.3 million, and primarily consisted of net proceeds from the issuance of $162.6 million in 40-year variable-rate Green Bonds in July 2020. The restricted cash and cash equivalents related to the debt issuance are held in a trust account and are to be used to partially fund the capital costs, in particular the expenditures associated with pollution prevention and control including waste recycling, associated with the construction of Nucor’s new plate mill located in Brandenburg, Kentucky. Funds are disbursed from the trust account as qualified expenditures for the construction of the Brandenburg facility are made ($47.3 million during 2020). Interest earned on funds held in the trust account is subject to the same usage requirements as the bond proceeds principle. Since the restricted cash and interest and dividends must be used for the construction of the Brandenburg facility and relate to a long-term liability, the entire balance has been classified as a non-current asset.

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