Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | Steel Dynamics, Inc. |
Entity Central Index Key | 0001022671 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | 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 and more thorough discussion 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 Value of Initial Fixed Year (a) Summary 1 Compensation 2 Average 3 Average 2 Company Peer Group 4 Net Income 5 Pre-Tax 2022 $ 11,234,457 $ 34,801,768 $ 5,046,515 $ 10,577,592 $ 308 $ 249 $ 3,863 68 % 2021 10,999,918 30,540,286 4,047,731 9,221,379 193 214 3,214 81 % 2020 10,976,625 14,341,620 3,603,810 4,586,970 112 98 551 17 % 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 $4,646,697, $5,993,433, and $6,072,531 for the applicable fiscal years 2022, 2021, and 2020, respectively for our PEO, and average amounts of $2,450,124, $1,889,024, and $1,601,933 for the applicable fiscal years 2022, 2021, and 2020, 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 $28,214,008, $25,533,801, and $9,437,526 for the applicable fiscal years 2022, 2021, and 2020, respectively for our PEO, and average increases of $7,981,201, $7,062,672, and $2,585,093 for the applicable fiscal years 2022, 2021, and 2020, respectively for the non-PEO NEO’s. The detailed amounts are shown in the table below: PEO Average Non-PEO NEOs Year Fair Value Change in Change in Total Equity Fair Value Change in Change in Total 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 2020 7,351,026 3,887,491 (1,800,991 ) 9,437,526 1,932,332 1,079,519 (426,758 ) 2,585,093 3 The non-PEO NEOs for 2022 include Ms. Wagler, Mr. Rinn, Mr. Graham, Mr. Pushis and Mr. Schneider. The non-PEO NEOs for 2021 and 2020 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 [Text Block] | 1 The principal executive officer (“PEO”) for each of the years represented was our Chief Executive Officer Mr. Mark Millett | ||
Peer Group Issuers, Footnote [Text Block] | 4 Peer Group Total Shareholder Return is based on the S&P Steel Index | ||
PEO Total Compensation Amount | $ 11,234,457 | $ 10,999,918 | $ 10,976,625 |
PEO Actually Paid Compensation Amount | $ 34,801,768 | 30,540,286 | 14,341,620 |
Adjustment To PEO Compensation, Footnote [Text Block] | 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 $4,646,697, $5,993,433, and $6,072,531 for the applicable fiscal years 2022, 2021, and 2020, respectively for our PEO, and average amounts of $2,450,124, $1,889,024, and $1,601,933 for the applicable fiscal years 2022, 2021, and 2020, 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 $28,214,008, $25,533,801, and $9,437,526 for the applicable fiscal years 2022, 2021, and 2020, respectively for our PEO, and average increases of $7,981,201, $7,062,672, and $2,585,093 for the applicable fiscal years 2022, 2021, and 2020, respectively for the non-PEO NEO’s. The detailed amounts are shown in the table below: PEO Average Non-PEO NEOs Year Fair Value Change in Change in Total Equity Fair Value Change in Change in Total 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 2020 7,351,026 3,887,491 (1,800,991 ) 9,437,526 1,932,332 1,079,519 (426,758 ) 2,585,093 | ||
Non-PEO NEO Average Total Compensation Amount | $ 5,046,515 | 4,047,731 | 3,603,810 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 10,577,592 | 9,221,379 | 4,586,970 |
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Compensation Actually Paid ($ in millions) to | ||
Compensation Actually Paid vs. Net Income [Text Block] | Compensation Actually Paid ($ in millions) to Net | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | Compensation Actually Paid ($ in millions) to | ||
Tabular List [Table Text Block] | 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. Pre-Tax Return on Equity Pre-Tax Return on Assets Total Net Sales | ||
Total Shareholder Return Amount | $ 308 | 193 | 112 |
Peer Group Total Shareholder Return Amount | 249 | 214 | 98 |
Net Income (Loss) | $ 3,863,000,000 | $ 3,214,000,000 | $ 551,000,000 |
Company Selected Measure Amount | 68 | 81 | 17 |
PEO Name | Mr. Mark Millett | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Pre-Tax Return on Equity | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Pre-Tax Return on Assets | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Total Net Sales | ||
Change In Value Of Prior Years Awards Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 17,524,779 | $ 13,328,783 | $ 3,887,491 |
PEO [Member] | Total Equity Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 4,646,697 | 5,993,433 | 6,072,531 |
PEO [Member] | Equity Awards For The Fair Value Of Awards Granted During The Current And Prior Fiscal years That Either Vested Or Remain Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 28,214,008 | 25,533,801 | 9,437,526 |
PEO [Member] | Fair Value Of Awards Granted [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 9,563,127 | 10,128,715 | 7,351,026 |
PEO [Member] | Change In Value Of Prior Years Awards vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,126,102 | 2,076,303 | (1,800,991) |
Non-PEO NEO [Member] | Total Equity Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 2,450,124 | 1,889,024 | 1,601,933 |
Non-PEO NEO [Member] | Equity Awards For The Fair Value Of Awards Granted During The Current And Prior Fiscal years That Either Vested Or Remain Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 7,981,201 | 7,062,672 | 2,585,093 |
Non-PEO NEO [Member] | Fair Value Of Awards Granted [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 4,029,198 | 2,708,162 | 1,932,332 |
Non-PEO NEO [Member] | Change In Value Of Prior Years Awards Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 3,555,421 | 3,758,692 | 1,079,519 |
Non-PEO NEO [Member] | Change In Value Of Prior Years Awards vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 396,582 | $ 595,818 | $ (426,758) |