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v3.23.1

Stockholders' Equity | 3 Months Ended
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Apr. 01, 2023
Equity [Abstract] |
Stockholders' Equity | 12. Stockholders’ Equity The following tables reflect the changes in stockholders’ equity attributable to Nucor and the noncontrolling interests of Nucor’s joint ventures, Nucor-Yamato Steel Company (Limited Partnership) (“NYS”) and California Steel Industries, Inc. (“CSI”), in both of which Nucor owns 51%, for the three months ended April 1, 2023 and April 2, 2022 (in thousands):
|  |  |  |  | Three Months (13 Weeks) Ended April 1, 2023 |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |  |  |  |  | Total |  |  |  |
|  |  |  |  |  |  |  |  |  |  | Additional |  |  |  |  |  | Other |  |  | Treasury Stock |  |  | Nucor |  |  |  |
|  |  |  |  | Common Stock |  |  | Paid-in |  |  | Retained |  |  | Comprehensive |  |  | (at cost) |  |  | Stockholders' |  |  | Noncontrolling |
|  | Total |  |  | Shares |  |  | Amount |  |  | Capital |  |  | Earnings |  |  | Income (Loss) |  |  | Shares |  |  | Amount |  |  | Equity |  |  | Interests |
BALANCES, December 31, 2022 |  | $ | 19,569,906 |  |  |  | 380,154 |  |  | $ | 152,061 |  |  | $ | 2,143,520 |  |  | $ | 24,754,873 |  |  | $ | (137,517 | ) |  |  | 126,661 |  |  | $ | (8,498,243 | ) |  | $ | 18,414,694 |  |  | $ | 1,155,212 |
Net earnings before noncontrolling interests |  |  | 1,231,629 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,136,542 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,136,542 |  |  |  | 95,087 |
Other comprehensive income (loss) |  |  | (27,841 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (27,841 | ) |  |  | - |  |  |  | - |  |  |  | (27,841 | ) |  |  | - |
Stock options exercised |  |  | 7,123 |  |  |  | - |  |  |  | - |  |  |  | (1,749 | ) |  |  | - |  |  |  | - |  |  |  | (131 | ) |  |  | 8,872 |  |  |  | 7,123 |  |  |  | - |
Stock option expense |  |  | 475 |  |  |  | - |  |  |  | - |  |  |  | 475 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 475 |  |  |  | - |
Issuance of stock under award plans, net of forfeitures |  |  | 43,820 |  |  |  | - |  |  |  | - |  |  |  | 24,760 |  |  |  | - |  |  |  | - |  |  |  | (323 | ) |  |  | 19,060 |  |  |  | 43,820 |  |  |  | - |
Amortization of unearned compensation |  |  | 1,764 |  |  |  | - |  |  |  | - |  |  |  | 1,764 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,764 |  |  |  | - |
Treasury stock acquired, and net impact of excise tax |  |  | (429,813 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,723 |  |  |  | (429,813 | ) |  |  | (429,813 | ) |  |  | - |
Cash dividends declared |  |  | (129,383 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (129,383 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (129,383 | ) |  |  | - |
Distributions to noncontrolling interests |  |  | (337,810 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (337,810 | )
BALANCES, April 1, 2023 |  | $ | 19,929,870 |  |  |  | 380,154 |  |  | $ | 152,061 |  |  | $ | 2,168,770 |  |  | $ | 25,762,032 |  |  | $ | (165,358 | ) |  |  | 128,930 |  |  | $ | (8,900,124 | ) |  | $ | 19,017,381 |  |  | $ | 912,489 |
|  |  |  |  | Three Months (13 Weeks) Ended April 2, 2022 |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |  |  |  |  | Total |  |  |  |
|  |  |  |  |  |  |  |  |  |  | Additional |  |  |  |  |  | Other |  |  | Treasury Stock |  |  | Nucor |  |  |  |
|  |  |  |  | Common Stock |  |  | Paid-in |  |  | Retained |  |  | Comprehensive |  |  | (at cost) |  |  | Stockholders' |  |  | Noncontrolling |
|  | Total |  |  | Shares |  |  | Amount |  |  | Capital |  |  | Earnings |  |  | Income (Loss) |  |  | Shares |  |  | Amount |  |  | Equity |  |  | Interests |
BALANCES, December 31, 2021 |  | $ | 14,603,794 |  |  |  | 380,154 |  |  | $ | 152,061 |  |  | $ | 2,140,608 |  |  | $ | 17,674,100 |  |  | $ | (115,282 | ) |  |  | 107,742 |  |  | $ | (5,835,098 | ) |  | $ | 14,016,389 |  |  | $ | 587,405 |
Net earnings before noncontrolling interests |  |  | 2,227,115 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,095,623 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,095,623 |  |  |  | 131,492 |
Other comprehensive income (loss) |  |  | 70,778 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 70,778 |  |  |  | - |  |  |  | - |  |  |  | 70,778 |  |  |  | - |
Stock options exercised |  |  | 16,586 |  |  |  | - |  |  |  | - |  |  |  | (507 | ) |  |  | - |  |  |  | - |  |  |  | (310 | ) |  |  | 17,093 |  |  |  | 16,586 |  |  |  | - |
Stock option expense |  |  | 458 |  |  |  | - |  |  |  | - |  |  |  | 458 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 458 |  |  |  | - |
Issuance of stock under award plans, net of forfeitures |  |  | 43,098 |  |  |  | - |  |  |  | - |  |  |  | 21,170 |  |  |  | - |  |  |  | - |  |  |  | (388 | ) |  |  | 21,928 |  |  |  | 43,098 |  |  |  | - |
Amortization of unearned compensation |  |  | 1,400 |  |  |  | - |  |  |  | - |  |  |  | 1,400 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,400 |  |  |  | - |
Treasury stock acquired |  |  | (905,324 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 7,048 |  |  |  | (905,324 | ) |  |  | (905,324 | ) |  |  | - |
Cash dividends declared |  |  | (134,446 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (134,446 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (134,446 | ) |  |  | - |
Distributions to noncontrolling interests |  |  | (211,558 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (211,558 | )
Acquisition of noncontrolling interest in CSI |  |  | 431,219 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 431,219 |
BALANCES, April 2, 2022 |  | $ | 16,143,120 |  |  |  | 380,154 |  |  | $ | 152,061 |  |  | $ | 2,163,129 |  |  | $ | 19,635,277 |  |  | $ | (44,504 | ) |  |  | 114,092 |  |  | $ | (6,701,401 | ) |  | $ | 15,204,562 |  |  | $ | 938,558 |
Dividends declared per share were $0.51 per share in the first quarter of 2023 ($0.50 per share in the first quarter of 2022). On December 2, 2021, the Company announced that its Board of Directors had approved a share repurchase program under which the Company is authorized to repurchase up to $4.00 billion of the Company’s common stock and terminated all previously authorized share repurchase programs. Share repurchases will be made from time to time in the open market at prevailing market prices or through private transactions or block trades. The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements and other factors. The share repurchase authorization is discretionary and has no expiration date. As of April 1, 2023, the Company had approximately $661.1 million available for share repurchases under the program authorized by the Company’s Board of Directors in December 2021.

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