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Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Information

Schedule of operating segment results

The company’s segment results, including disaggregated revenue by segment to external, external non-United States, and other segment customers, are as follows (in thousands):


					Metals			Steel
For the year ended		Steel			Recycling			Fabrication
December 31, 2022		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	13,801,448		$	1,545,347		$	4,245,803		$	1,259,173		$	-		$	20,851,771
External Non-United States			760,929			619,361			183			28,530			-			1,409,003
Other segments			538,540			2,230,928			11,221			1,281			(2,781,970)			-
			15,100,917			4,395,636			4,257,207			1,288,984			(2,781,970)			22,260,774
Operating income (loss)			3,095,348			117,266			2,424,655			(599,828)	⁽¹⁾		54,381			5,091,822
Income (loss) before income taxes			3,057,560			117,803			2,417,752			(625,037)			52,991	⁽²⁾		5,021,069
Depreciation and amortization			295,386			53,893			9,727			25,196			-			384,202
Capital expenditures			611,154			68,074			17,519			212,155			-			908,902

As of December 31, 2022

Assets		$	8,607,290		$	1,320,368		$	1,349,138		$	3,007,942	⁽³⁾	$	(124,754)	⁽⁴⁾	$	14,159,984

Note 13. Segment Information (Continued)


Footnotes related to the year ended December 31, 2022, segment results (in millions):

(1)	Corporate SG&A	$	(77.8)		(2)	Gross profit increase from intra-company sales	$	53.0
	Companywide equity-based compensation		(67.3)
	Profit sharing		(444.4)
	Other, net		(10.3)
		$	(599.8)

(3)	Cash and equivalents	$	1,463.2		(4)	Elimination of intra-company receivables	$	(58.2)
	Short-term investments		628.2			Elimination of intra-company debt		(46.9)
	Accounts receivable		33.3			Elimination of intra-company profit in inventory		(19.7)
	Inventories		90.4				$	(124.8)
	Property, plant and equipment, net		375.6
	Intra-company debt		46.9
	Investments in unconsolidated affiliates		226.6
	Other		143.7
		$	3,007.9


					Metals			Steel
For the year ended		Steel			Recycling			Fabrication
December 31, 2021		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	12,618,917		$	1,658,843		$	1,761,078		$	1,252,095		$	-		$	17,290,933
External Non-United States			580,225			524,629			569			12,494			-			1,117,917
Other segments			823,991			2,406,649			3,063			2,382			(3,236,085)			-
			14,023,133			4,590,121			1,764,710			1,266,971			(3,236,085)			18,408,850
Operating income (loss)			4,360,488			181,986			365,250			(551,725)	⁽¹⁾		(54,894)			4,301,105
Income (loss) before income taxes			4,327,300			181,579			362,473			(606,021)			(56,261)	⁽²⁾		4,209,070
Depreciation and amortization			263,125			55,620			9,961			18,947			-			347,653
Capital expenditures			937,011			46,360			12,939			9,929			-			1,006,239

As of December 31, 2021

Assets		$	8,686,216		$	1,266,920		$	1,195,396		$	1,523,830	⁽³⁾	$	(141,128)	⁽⁴⁾	$	12,531,234


Footnotes related to the year ended December 31, 2021, segment results (in millions):

(1)	Corporate SG&A	$	(78.0)		(2)	Gross profit decrease from intra-company sales	$	(56.3)
	Companywide equity-based compensation		(78.8)
	Profit sharing		(379.3)
	Other, net		(15.6)
		$	(551.7)

(3)	Cash and equivalents	$	1,088.8		(4)	Elimination of intra-company receivables	$	(48.9)
	Accounts receivable		27.5			Elimination of intra-company debt		(19.6)
	Inventories		94.2			Elimination of intra-company profit in inventory		(72.6)
	Property, plant and equipment, net		128.9				$	(141.1)
	Intra-company debt		19.6
	Other		164.8
		$	1,523.8

Note 13. Segment Information (Continued)


					Metals			Steel
For the year ended		Steel			Recycling			Fabrication
December 31, 2020		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	6,873,209		$	820,262		$	895,227		$	500,496		$	-		$	9,089,194
External Non-United States			263,895			247,662			474			257			-			512,288
Other segments			318,533			1,335,216			10,663			434			(1,664,846)			-
			7,455,637			2,403,140			906,364			501,187			(1,664,846)			9,601,482
Operating income (loss)			889,480			32,991			120,575			(188,525)	⁽¹⁾		(7,379)			847,142
Income (loss) before income taxes			833,035			27,753			116,625			(263,470)			(8,465)	⁽²⁾		705,478
Depreciation and amortization			251,590			50,099			10,819			13,281			-			325,789
Capital expenditures			1,132,298			32,875			15,234			17,648			-			1,198,055


Footnotes related to the year ended December 31, 2020, segment results (in millions):

(1)	Corporate SG&A	$	(57.9)		(2)	Gross profit decrease from intra-company sales	$	(8.5)
	Companywide equity-based compensation		(48.5)
	Profit sharing		(58.3)
	Asset impairment charges		(19.4)
	Other, net		(4.4)
		$	(188.5)