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Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Information

Schedule of Operating Segment Results

The company’s segment results, with prior periods recast consistent with our current reportable segments presentation, including disaggregated revenue by segment to external, external non-United States, and other segment customers, are as follows (in thousands):



					Metals			Steel
For the three-month period ended		Steel			Recycling			Fabrication			Aluminum
March 31, 2025		Operations			Operations			Operations			Operations			Other ^(a)			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	2,904,540		$	371,876		$	351,859		$	66,576		$	347,069		$	-		$	4,041,920
External Non-United States			162,476			163,019			448			-			1,332			-			327,275
Other segments			87,414			537,612			156			34,071			-			(659,253)			-
Net sales			3,154,430			1,072,507			352,463			100,647			348,401			(659,253)			4,369,195
Less:
Cost of goods sold			2,870,498			1,020,144			211,828			91,471			346,588			(657,878)			3,882,651
Other segment items ^(b)			55,070			26,653			23,889			37,911			68,246			(369)			211,400
Operating income (loss)			228,862			25,710			116,746			(28,735)			(66,433)			(1,006)			275,144
Interest expense, net of capitalized interest																					12,131
Other (income) expense, net																					(17,641)
Income before income taxes																					280,654

Depreciation and amortization		$	98,930		$	14,970		$	2,956		$	2,647		$	14,253		$	-		$	133,756
Capital expenditures			92,007			27,180			5,244			208,591			5,495			(33,011)			305,506
Total Assets			8,884,302			1,484,448			623,582			3,106,134			4,165,063	^(c)		(2,333,101)			15,930,428



					Metals			Steel
For the three-month period ended		Steel			Recycling			Fabrication			Aluminum
March 31, 2024		Operations			Operations			Operations			Operations			Other ^(a)			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	3,133,610		$	329,844		$	446,096		$	61,079		$	307,859		$	-		$	4,278,488
External Non-United States			232,627			177,426			1,083			1,124			3,255			-			415,515
Other segments			148,291			534,423			4,584			9,953			-			(697,251)			-
Net sales			3,514,528			1,041,693			451,763			72,156			311,114			(697,251)			4,694,003
Less:
Cost of goods sold			2,790,211			993,262			249,541			64,576			306,920			(691,305)			3,713,205
Other segment items ^(b)			53,386			35,679			23,882			15,135			102,066			(325)			229,823
Operating income (loss)			670,931			12,752			178,340			(7,555)			(97,872)			(5,621)			750,975
Interest expense, net of capitalized interest																					11,978
Other (income) expense, net																					(26,784)
Income before income taxes																					765,781

Depreciation and amortization		$	87,507		$	17,263		$	2,682		$	1,227		$	6,573		$	-		$	115,252
Capital expenditures			95,833			30,720			5,436			238,472			3,849			-			374,310

^(a) Amounts included in Other are from subsidiary operations that are below the quantitative thresholds required for reportable segments and primarily consist of joint ventures and the idled Minnesota ironmaking operations. Also included are certain unallocated corporate accounts, such as the company's senior unsecured credit facility, senior notes, certain other investments, amortization of intangible assets and certain profit sharing expenses.

^(b) Other segment items for each reportable operating segment include selling, general, and administrative expenses including payroll & benefit expenses and professional service expenses. Other segment items within Other include selling, general, and administrative expenses such as payroll & benefit expenses, companywide equity-based compensation expenses, and professional service expenses, as well as company-wide profit sharing expense and amortization of intangible assets.

^(c) Asset amounts included in Other consist of assets held by subsidiary operations that are below the quantitative thresholds required for reportable segments and the company's corporate assets. Corporate assets primarily consist of cash, short-term and other investments, and intra-company debt.