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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

Pay Versus Performance

As required by Item 402(v) of Regulation S-K, we are providing the following information about pay versus performance. For a detailed explanation regarding Compensation Committee decisions with respect to Named Executive Officer pay, please refer to our Compensation Discussion & Analysis.

For purposes of this disclosure, compensation actually paid (“CAP”) represents an amount calculated based on the formulas which determine values as of a certain date and may not be reflective as of the respective grant date value, the current value or the future value, all of which may be higher or lower. CAP is not compensation actually delivered to or received by our NEOs in each respective year, nor is it a factor that drives executive pay decisions, including how the Compensation Committee establishes target compensation levels or determines incentive award opportunities and actual payouts.

Pay Versus Performance Table

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Value of Initial Fixed

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$100 Investment

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Based On:

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Average

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Summary

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Average

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Summary

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Compensation

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Compensation

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Company

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Peer Group

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Compensation

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Compensation

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Table Total for

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Actually Paid

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Total

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Total

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Net Income

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Pre-Tax

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Table Total for

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Actually Paid

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Non-PEO

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to Non-PEO

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Shareholder

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Shareholder

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(in millions)

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Return on

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Year (a)

  ​ ​ ​

PEO ($) (b)1

  ​ ​ ​

to PEO ($)(c)2

  ​ ​ ​

NEOs ($) (d)3

  ​ ​ ​

NEOs ($)(e)2

  ​ ​ ​

Return ($) (f)

  ​ ​ ​

Return ($) (g)4

  ​ ​ ​

($) (h)5

  ​ ​ ​

Equity (i)

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2025

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$

12,059,908

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$

24,225,255

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$

5,622,757

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$

10,929,613

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$

498

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$

369

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$

1,186

 

17

%

2024

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11,782,886

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16,248,049

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5,460,163

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7,143,057

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330

​

 

254

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1,537

 

22

%

2023

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11,823,662

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26,494,892

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5,249,637

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10,059,306

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337

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331

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2,451

 

38

%

2022

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11,234,457

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34,801,768

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5,046,515

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10,577,592

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275

​

 

254

​

 

3,863

 

68

%

2021

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10,999,918

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30,540,286

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4,047,731

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9,221,379

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171

​

 

218

​

 

3,214

 

81

%

1 The principal executive officer (“PEO”) for each of the years represented was our Chief Executive Officer Mr. Mark Millett

2 In calculating CAP, we have adjusted the totals of our PEO’s and Non-PEOs’ compensation as reported in the Summary Compensation Table for each of the covered fiscal years to reflect CAP by the company as defined in Item 402(v) for such fiscal years. First, we deducted the total amounts reported under the “Stock Awards” and “Option Awards” columns from the Summary Compensation Table of $5,095,406, $5,004,495, $5,023,287, $4,646,697, and $5,993,433 for the applicable fiscal years 2025, 2024, 2023, 2022, and 2021, respectively for our PEO, and average amounts of $2,342,605, $2,228,364, $2,124,872, $2,450,124, and $1,889,024 for the applicable fiscal years 2025, 2024, 2023, 2022, and 2021, respectively, for our non-PEO NEO’s. Next, we increased the compensation actually paid by adjusting for the fair value of equity awards granted during the current and prior fiscal years that either vested or remain unvested as of the current applicable fiscal year. These amounts resulted in increases of $17,260,753, $9,469,658, $19,694,517, $28,214,008, and $25,533,801 for the applicable fiscal years 2025, 2024, 2023, 2022, and 2021, respectively for our PEO, and average increases of $7,649,461, $3,911,258, $6,934,540, $7,981,201, and $7,062,672 for the applicable fiscal years 2025, 2024, 2023, 2022, and 2021, respectively for the non-PEO NEO’s. The detailed amounts are shown in the table below:

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PEO

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Average Non-PEO NEOs

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Change in

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Change in

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Change in

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Change in

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Value of

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Value of

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Total Equity

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Value of

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Value of

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Total Equity

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Fair Value

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Prior Years’

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Prior Years’

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Value

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Fair Value

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Prior Years’

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Prior Years’

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Value

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of Awards

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Awards

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Awards that

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Included in

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of Awards

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Awards

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Awards that

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Included in

Year

  ​ ​ ​

Granted

  ​ ​ ​

Unvested

  ​ ​ ​

Vested

  ​ ​ ​

CAP

  ​ ​ ​

Granted

  ​ ​ ​

Unvested

  ​ ​ ​

Vested

  ​ ​ ​

CAP

2025

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$

7,143,865

​

$

9,212,684

​

$

904,204

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$

17,260,753

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$

3,234,895

​

$

4,078,358

​

$

336,208

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$

7,649,461

2024

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4,835,278

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2,492,936

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2,141,444

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9,469,658

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2,142,873

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1,067,280

​

 

701,105

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3,911,258

2023

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5,652,135

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8,782,143

​

 

5,260,239

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19,694,517

​

 

2,395,963

​

 

3,068,741

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1,469,836

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6,934,540

2022

​

 

9,563,127

​

 

17,524,779

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1,126,102

​

 

28,214,008

​

 

4,029,198

​

 

3,555,421

​

 

396,582

​

 

7,981,201

2021

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10,128,715

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13,328,783

​

 

2,076,303

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25,533,801

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2,708,162

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3,758,692

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595,818

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7,062,672

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3 The non-PEO NEOs for 2025, 2024 and 2023 include Ms. Wagler, Mr. Schneider, Mr. Graham, and Mr. Pushis. The non-PEO NEOs for 2022 include Ms. Wagler, Mr. Rinn, Mr. Graham, Mr. Pushis and Mr. Schneider. The non-PEO NEOs for 2021 include Ms. Wagler, Mr. Rinn, Mr. Pushis and Mr. Schneider.

4 Peer Group Total Shareholder Return is based on the S&P Steel Index.

5 Net Income represents Net Income attributable to Steel Dynamics, Inc. as reported in our audited financial statements for each fiscal year.

        
Company Selected Measure Name Pre-Tax Return on Equity        
Named Executive Officers, Footnote

1 The principal executive officer (“PEO”) for each of the years represented was our Chief Executive Officer Mr. Mark Millett

The non-PEO NEOs for 2025, 2024 and 2023 include Ms. Wagler, Mr. Schneider, Mr. Graham, and Mr. Pushis. The non-PEO NEOs for 2022 include Ms. Wagler, Mr. Rinn, Mr. Graham, Mr. Pushis and Mr. Schneider. The non-PEO NEOs for 2021 include Ms. Wagler, Mr. Rinn, Mr. Pushis and Mr. Schneider. 		       
Peer Group Issuers, Footnote

4 Peer Group Total Shareholder Return is based on the S&P Steel Index.

        
PEO Total Compensation Amount $ 12,059,908 $ 11,782,886 $ 11,823,662 $ 11,234,457 $ 10,999,918
PEO Actually Paid Compensation Amount $ 24,225,255 16,248,049 26,494,892 34,801,768 30,540,286
Adjustment To PEO Compensation, Footnote

2 In calculating CAP, we have adjusted the totals of our PEO’s and Non-PEOs’ compensation as reported in the Summary Compensation Table for each of the covered fiscal years to reflect CAP by the company as defined in Item 402(v) for such fiscal years. First, we deducted the total amounts reported under the “Stock Awards” and “Option Awards” columns from the Summary Compensation Table of $5,095,406, $5,004,495, $5,023,287, $4,646,697, and $5,993,433 for the applicable fiscal years 2025, 2024, 2023, 2022, and 2021, respectively for our PEO, and average amounts of $2,342,605, $2,228,364, $2,124,872, $2,450,124, and $1,889,024 for the applicable fiscal years 2025, 2024, 2023, 2022, and 2021, respectively, for our non-PEO NEO’s. Next, we increased the compensation actually paid by adjusting for the fair value of equity awards granted during the current and prior fiscal years that either vested or remain unvested as of the current applicable fiscal year. These amounts resulted in increases of $17,260,753, $9,469,658, $19,694,517, $28,214,008, and $25,533,801 for the applicable fiscal years 2025, 2024, 2023, 2022, and 2021, respectively for our PEO, and average increases of $7,649,461, $3,911,258, $6,934,540, $7,981,201, and $7,062,672 for the applicable fiscal years 2025, 2024, 2023, 2022, and 2021, respectively for the non-PEO NEO’s. The detailed amounts are shown in the table below:

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PEO

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Average Non-PEO NEOs

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Change in

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Change in

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Change in

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Change in

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Value of

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Value of

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Total Equity

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Value of

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Value of

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Total Equity

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Fair Value

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Prior Years’

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Prior Years’

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Value

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Fair Value

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Prior Years’

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Prior Years’

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Value

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of Awards

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Awards

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Awards that

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Included in

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of Awards

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Awards

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Awards that

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Included in

Year

  ​ ​ ​

Granted

  ​ ​ ​

Unvested

  ​ ​ ​

Vested

  ​ ​ ​

CAP

  ​ ​ ​

Granted

  ​ ​ ​

Unvested

  ​ ​ ​

Vested

  ​ ​ ​

CAP

2025

​

$

7,143,865

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$

9,212,684

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$

904,204

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$

17,260,753

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$

3,234,895

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$

4,078,358

​

$

336,208

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$

7,649,461

2024

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4,835,278

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2,492,936

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2,141,444

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9,469,658

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2,142,873

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1,067,280

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701,105

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3,911,258

2023

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5,652,135

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8,782,143

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5,260,239

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19,694,517

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2,395,963

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3,068,741

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1,469,836

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6,934,540

2022

​

 

9,563,127

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17,524,779

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1,126,102

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28,214,008

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4,029,198

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3,555,421

​

 

396,582

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7,981,201

2021

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10,128,715

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13,328,783

​

 

2,076,303

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25,533,801

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2,708,162

​

 

3,758,692

​

 

595,818

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7,062,672

        
Non-PEO NEO Average Total Compensation Amount $ 5,622,757 5,460,163 5,249,637 5,046,515 4,047,731
Non-PEO NEO Average Compensation Actually Paid Amount $ 10,929,613 7,143,057 10,059,306 10,577,592 9,221,379
Adjustment to Non-PEO NEO Compensation Footnote

2 In calculating CAP, we have adjusted the totals of our PEO’s and Non-PEOs’ compensation as reported in the Summary Compensation Table for each of the covered fiscal years to reflect CAP by the company as defined in Item 402(v) for such fiscal years. First, we deducted the total amounts reported under the “Stock Awards” and “Option Awards” columns from the Summary Compensation Table of $5,095,406, $5,004,495, $5,023,287, $4,646,697, and $5,993,433 for the applicable fiscal years 2025, 2024, 2023, 2022, and 2021, respectively for our PEO, and average amounts of $2,342,605, $2,228,364, $2,124,872, $2,450,124, and $1,889,024 for the applicable fiscal years 2025, 2024, 2023, 2022, and 2021, respectively, for our non-PEO NEO’s. Next, we increased the compensation actually paid by adjusting for the fair value of equity awards granted during the current and prior fiscal years that either vested or remain unvested as of the current applicable fiscal year. These amounts resulted in increases of $17,260,753, $9,469,658, $19,694,517, $28,214,008, and $25,533,801 for the applicable fiscal years 2025, 2024, 2023, 2022, and 2021, respectively for our PEO, and average increases of $7,649,461, $3,911,258, $6,934,540, $7,981,201, and $7,062,672 for the applicable fiscal years 2025, 2024, 2023, 2022, and 2021, respectively for the non-PEO NEO’s. The detailed amounts are shown in the table below:

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PEO

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Average Non-PEO NEOs

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Change in

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Change in

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Change in

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Change in

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Value of

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Value of

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Total Equity

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Value of

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Value of

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Total Equity

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Fair Value

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Prior Years’

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Prior Years’

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Value

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Fair Value

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Prior Years’

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Prior Years’

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Value

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of Awards

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Awards

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Awards that

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Included in

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of Awards

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Awards

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Awards that

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Included in

Year

  ​ ​ ​

Granted

  ​ ​ ​

Unvested

  ​ ​ ​

Vested

  ​ ​ ​

CAP

  ​ ​ ​

Granted

  ​ ​ ​

Unvested

  ​ ​ ​

Vested

  ​ ​ ​

CAP

2025

​

$

7,143,865

​

$

9,212,684

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$

904,204

​

$

17,260,753

​

$

3,234,895

​

$

4,078,358

​

$

336,208

​

$

7,649,461

2024

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4,835,278

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2,492,936

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2,141,444

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9,469,658

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2,142,873

​

 

1,067,280

​

 

701,105

​

 

3,911,258

2023

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5,652,135

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8,782,143

​

 

5,260,239

​

 

19,694,517

​

 

2,395,963

​

 

3,068,741

​

 

1,469,836

​

 

6,934,540

2022

​

 

9,563,127

​

 

17,524,779

​

 

1,126,102

​

 

28,214,008

​

 

4,029,198

​

 

3,555,421

​

 

396,582

​

 

7,981,201

2021

​

 

10,128,715

​

 

13,328,783

​

 

2,076,303

​

 

25,533,801

​

 

2,708,162

​

 

3,758,692

​

 

595,818

​

 

7,062,672

        
Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid ($ in millions) to Company Total Shareholder

Return and Peer Group Total Shareholder Return1

Graphic

1 $100 invested on 12/31/20 in stock or index, including reinvestment of dividends. Fiscal year ending December 31.

        
Compensation Actually Paid vs. Net Income

Compensation Actually Paid ($ in millions)

to Net Income ($ in billions)

Graphic

​

        
Compensation Actually Paid vs. Company Selected Measure

Compensation Actually Paid ($ in millions)

to Pre-Tax Return on Equity

Graphic

        
Total Shareholder Return Vs Peer Group

Compensation Actually Paid ($ in millions) to Company Total Shareholder

Return and Peer Group Total Shareholder Return1

Graphic

1 $100 invested on 12/31/20 in stock or index, including reinvestment of dividends. Fiscal year ending December 31.

        
Tabular List, Table

Tabular List

The following table presents an unranked list that we believe represent the most important financial performance measures used to link CAP to our NEOs to Company performance.

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Pre-Tax Return on Equity

Total Net Sales

Pre-Tax Return on Assets

        
Total Shareholder Return Amount $ 498 330 337 275 171
Peer Group Total Shareholder Return Amount 369 254 331 254 218
Net Income (Loss) $ 1,186,000,000 $ 1,537,000,000 $ 2,451,000,000 $ 3,863,000,000 $ 3,214,000,000
Company Selected Measure Amount 17 22 38 68 81
PEO Name Mr. Mark Millett        
Equity Awards Adjustments, Footnote

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PEO

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Average Non-PEO NEOs

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Change in

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Change in

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Change in

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Change in

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​

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​

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​

​

Value of

​

Value of

​

Total Equity

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​

​

​

Value of

​

Value of

​

Total Equity

​

​

Fair Value

​

Prior Years’

​

Prior Years’

​

Value

​

Fair Value

​

Prior Years’

​

Prior Years’

​

Value

​

​

of Awards

​

Awards

​

Awards that

​

Included in

​

of Awards

​

Awards

​

Awards that

​

Included in

Year

  ​ ​ ​

Granted

  ​ ​ ​

Unvested

  ​ ​ ​

Vested

  ​ ​ ​

CAP

  ​ ​ ​

Granted

  ​ ​ ​

Unvested

  ​ ​ ​

Vested

  ​ ​ ​

CAP

2025

​

$

7,143,865

​

$

9,212,684

​

$

904,204

​

$

17,260,753

​

$

3,234,895

​

$

4,078,358

​

$

336,208

​

$

7,649,461

2024

​

 

4,835,278

​

 

2,492,936

​

 

2,141,444

​

 

9,469,658

​

 

2,142,873

​

 

1,067,280

​

 

701,105

​

 

3,911,258

2023

​

 

5,652,135

​

 

8,782,143

​

 

5,260,239

​

 

19,694,517

​

 

2,395,963

​

 

3,068,741

​

 

1,469,836

​

 

6,934,540

2022

​

 

9,563,127

​

 

17,524,779

​

 

1,126,102

​

 

28,214,008

​

 

4,029,198

​

 

3,555,421

​

 

396,582

​

 

7,981,201

2021

​

 

10,128,715

​

 

13,328,783

​

 

2,076,303

​

 

25,533,801

​

 

2,708,162

​

 

3,758,692

​

 

595,818

​

 

7,062,672

        
Measure:: 1          
Pay vs Performance Disclosure          
Name Pre-Tax Return on Equity        
Measure:: 2          
Pay vs Performance Disclosure          
Name Total Net Sales        
Measure:: 3          
Pay vs Performance Disclosure          
Name Pre-Tax Return on Assets        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (5,095,406) $ (5,004,495) $ (5,023,287) $ (4,646,697) $ (5,993,433)
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 17,260,753 9,469,658 19,694,517 28,214,008 25,533,801
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 7,143,865 4,835,278 5,652,135 9,563,127 10,128,715
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 9,212,684 2,492,936 8,782,143 17,524,779 13,328,783
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 904,204 2,141,444 5,260,239 1,126,102 2,076,303
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,342,605) (2,228,364) (2,124,872) (2,450,124) (1,889,024)
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 7,649,461 3,911,258 6,934,540 7,981,201 7,062,672
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,234,895 2,142,873 2,395,963 4,029,198 2,708,162
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 4,078,358 1,067,280 3,068,741 3,555,421 3,758,692
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 336,208 $ 701,105 $ 1,469,836 $ 396,582 $ 595,818