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Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

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):

Note 8. Segment Information (Continued)



					Metals			Steel
For the three-month period ended		Steel			Recycling			Fabrication
June 30, 2023		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	3,123,476		$	368,561		$	779,374		$	259,963		$	-		$	4,531,374
External Non-U.S.			274,033			223,812			35			52,376			-			550,256
Other segments			210,724			575,752			189			269			(786,934)			-
			3,608,233			1,168,125			779,598			312,608			(786,934)			5,081,630
Operating income (loss)			702,646			33,005			462,080			(120,811)	⁽¹⁾		(13,185)			1,063,735
Income (loss) before income taxes			703,887			38,225			462,207			(116,407)			(13,596)			1,074,316
Depreciation and amortization			81,590			20,761			2,422			6,197			-			110,970
Capital expenditures			101,806			25,259			7,138			224,077			-			358,280

As of June 30, 2023
Assets		$	8,802,562		$	1,418,244		$	1,148,279		$	3,357,423	⁽²⁾	$	(175,111)	⁽³⁾	$	14,551,397


Footnotes related to the three-month period ended June 30, 2023, segment results (in millions):

(1)	Corporate SG&A	$	(22.6)		(2)	Cash and equivalents	$	1,325.9
	Companywide equity-based compensation		(11.2)			Short-term and other investments		837.3
	Company profit sharing component		(88.0)			Accounts receivable		50.8
	Other, net		1.0			Inventories		117.4
		$	(120.8)			Property, plant and equipment, net		689.4
						Intra-company debt		35.7
						Investments in unconsolidated affiliates		231.5
						Other		69.4
							$	3,357.4

(3)	Elimination of intra-company receivables	$	(104.8)
	Elimination of intra-company debt		(35.7)
	Other		(34.6)
		$	(175.1)

Note 8. Segment Information (Continued)



					Metals			Steel
For the three-month period ended		Steel			Recycling			Fabrication
June 30, 2022		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	3,929,646		$	476,093		$	1,085,710		$	330,574		$	-		$	5,822,023
External Non-U.S.			212,376			173,642			44			4,793			-			390,855
Other segments			104,594			706,247			4,444			372			(815,657)			-
			4,246,616			1,355,982			1,090,198			335,739			(815,657)			6,212,878
Operating income (loss)			1,102,725			54,443			599,191			(162,194)	⁽¹⁾		23,898			1,618,063
Income (loss) before income taxes			1,086,795			53,446			596,763			(164,143)			23,556			1,596,417
Depreciation and amortization			73,962			13,021			2,433			6,285			-			95,701
Capital expenditures			135,864			15,199			4,569			8,510			-			164,142


Footnotes related to the three-month period ended June 30, 2022, segment results (in millions):

(1)	Corporate SG&A	$	(12.7)
	Companywide equity-based compensation		(8.8)
	Company profit sharing component		(136.7)
	Other, net		(4.0)
		$	(162.2)



					Metals			Steel
For the six-month period ended		Steel			Recycling			Fabrication
June 30, 2023		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	5,970,662		$	751,364		$	1,648,076		$	612,292		$	-		$	8,982,394
External Non-U.S.			487,668			424,477			101			80,196			-			992,442
Other segments			335,534			1,154,211			225			269			(1,490,239)			-
			6,793,864			2,330,052			1,648,402			692,757			(1,490,239)			9,974,836
Operating income (loss)			1,044,406			72,693			1,013,352			(219,751)	⁽¹⁾		(11,605)			1,899,095
Income (loss) before income taxes			1,046,387			83,774			1,013,619			(209,303)			(12,372)			1,922,105
Depreciation and amortization			165,066			35,126			4,753			13,719			-			218,664
Capital expenditures			222,345			44,956			11,634			305,664			-			584,599


Footnotes related to the six-month period ended June 30, 2023, segment results (in millions):

(1)	Corporate SG&A	$	(46.2)
	Companywide equity-based compensation		(24.8)
	Company profit sharing component		(156.9)
	Other, net		8.1
		$	(219.8)

Note 8. Segment Information (Continued)



					Metals			Steel
For the six-month period ended		Steel			Recycling			Fabrication
June 30, 2022		Operations			Operations			Operations			Other			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	7,502,848		$	924,136		$	2,015,552		$	627,695		$	-		$	11,070,231
External Non-U.S.			401,670			305,224			183			5,472			-			712,549
Other segments			273,751			1,269,839			4,563			1,030			(1,549,183)			-
			8,178,269			2,499,199			2,020,298			634,197			(1,549,183)			11,782,780
Operating income (loss)			2,265,735			99,403			1,066,066			(336,729)	⁽¹⁾		18,455			3,112,930
Income (loss) before income taxes			2,239,011			99,176			1,061,962			(363,772)			17,770			3,054,147
Depreciation and amortization			140,644			26,275			4,863			11,465			-			183,247
Capital expenditures			272,054			26,756			8,259			16,403			-			323,472


Footnotes related to the six-month period ended June 30, 2022, segment results (in millions):

(1)	Corporate SG&A	$	(32.3)
	Companywide equity-based compensation		(24.7)
	Company profit sharing component		(262.3)
	Other, net		(17.4)
		$	(336.7)