Steel Dynamics (STLD) 10-K 28 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 17, 2017	Jun. 30, 2016
Document and Entity Information
Entity Registrant Name	STEEL DYNAMICS INC
Entity Central Index Key	1,022,671
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 4,763,581,526
Entity Common Stock, Shares Outstanding		242,349,757

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets
Cash and equivalents	$ 841,483	$ 727,032
Accounts receivable, net of related allowances of $14,413 and $9,765 as of December 31, 2016, and 2015, respectively	703,565	579,333
Accounts receivable-related parties	26,219	34,272
Inventories	1,275,211	1,149,390
Other current assets	83,197	47,914
Total current assets	2,929,675	2,537,941
Property, plant and equipment, net	2,787,215	2,951,210
Restricted cash	18,060	19,565
Intangible assets, net of accumulated amortization of $294,676 and $265,940 as of December 31, 2016, and 2015, respectively	283,977	278,960
Goodwill	393,351	397,470
Other assets	11,454	16,936
Total assets	6,423,732	6,202,082
Current liabilities
Accounts payable	382,126	276,725
Accounts payable-related parties	13,070	6,630
Income taxes payable	5,593	2,023
Accrued payroll and benefits	164,543	94,906
Accrued interest	30,295	38,502
Accrued expenses	113,556	99,824
Current maturities of long-term debt	3,632	16,680
Total current liabilities	712,815	535,290
Long-term debt	2,353,194	2,577,976
Deferred income taxes	448,375	400,770
Other liabilities	20,649	16,595
Total liabilities	3,535,033	3,530,631
Commitments and contingencies
Redeemable noncontrolling interests	111,240	126,340
Equity
Common stock voting, $.0025 par value; 900,000,000 shares authorized; 264,130,544 and 262,937,139 shares issued; and 243,785,485 and 243,089,514 shares outstanding, as of December 31, 2016, and December 31, 2015, respectively	641	638
Treasury stock, at cost; 20,345,059 and 19,847,625 shares, as of December 31, 2016, and December 31, 2015 respectively	(416,829)	(396,455)
Additional paid-in capital	1,132,749	1,110,253
Retained earnings	2,210,459	1,965,291
Total Steel Dynamics, Inc. equity	2,927,020	2,679,727
Noncontrolling interests	(149,561)	(134,616)
Total equity	2,777,459	2,545,111
Total liabilities and equity	$ 6,423,732	$ 6,202,082

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
CONSOLIDATED BALANCE SHEETS
Allowance for Doubtful Accounts Receivable, Current	$ 14,413	$ 9,765
Finite-Lived Intangible Assets, Accumulated Amortization	$ 294,676	$ 265,940
Common stock voting, par value (in dollars per share)	$ 0.0025	$ 0.0025
Common stock voting, shares authorized (in shares)	900,000,000	900,000,000
Common stock voting, shares issued (in shares)	264,130,544	262,937,139
Common stock voting, shares outstanding (in shares)	243,785,485	243,089,514
Treasury stock, shares (in shares)	20,345,059	19,847,625

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net sales
Unrelated parties	$ 7,607,180	$ 7,407,233	$ 8,481,567
Related parties	169,929	187,178	274,385
Total net sales	7,777,109	7,594,411	8,755,952
Costs of goods sold	6,442,245	6,862,693	7,789,741
Gross profit	1,334,864	731,718	966,211
Selling, general and administrative expenses	374,009	328,758	317,275
Profit sharing	71,285	23,064	42,126
Amortization of intangible assets	28,765	24,180	26,490
Asset impairment charges	132,839	428,500	260,000
Operating income (loss)	727,966	(72,784)	320,320
Interest expense, net of capitalized interest	146,037	153,950	137,263
Other expense (income), net	17,796	15,383	18,254
Income (loss) before income taxes	564,133	(242,117)	164,803
Income tax expense (benefit)	204,127	(96,947)	73,153
Net income (loss)	360,006	(145,170)	91,650
Net loss attributable to noncontrolling interests	22,109	14,859	65,374
Net income (loss) attributable to Steel Dynamics, Inc.	$ 382,115	$ (130,311)	$ 157,024
Basic earnings (loss) per share attributable to Steel Dynamics, Inc. stockholders	$ 1.57	$ (0.54)	$ 0.68
Weighted average common shares outstanding - basic (in shares)	243,576	242,017	232,547
Diluted earnings (loss) per share attributable to Steel Dynamics, Inc. stockholders, including the effect of assumed conversions when dilutive (in dollars per share)	$ 1.56	$ (0.54)	$ 0.67
Weighted average common shares and share equivalents outstanding (in shares)	245,298	242,017	242,078
Dividends declared per share (in dollars per share)	$ 0.56	$ 0.55	$ 0.46

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Noncontrolling Interests	Redeemable Noncontrolling Interest	Total
Balances at Dec. 31, 2013	$ 645	$ (718,529)	$ 1,085,694	$ 2,179,513	$ (51,468)	$ 116,514	$ 2,495,855
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2013	222,867,000
Treasury Stock, Shares, Beginning Balance at Dec. 31, 2013		35,973,000
Proceeds from exercise of stock options, including related tax effect	$ 5	$ (164)	32,466				32,307
Proceeds from exercise of stock options, including related tax effect (in shares)	1,770,000	8,000
Dividends declared				(108,630)			(108,630)
Conversion of 5.125% convertible		$ 317,451	(45,650)				271,801
Conversion of 5.125% convertible (in shares)	15,893,000	(15,893,000)
Noncontrolling investors, net					646	(9,826)	646
Equity-based compensation	$ (15)	$ 2,344	10,925	(64)			13,190
Equity-based compensation (in shares)	919,000	(117,000)
Comprehensive and net income (loss)				157,024	(65,374)		91,650
Balances at Dec. 31, 2014	$ 635	$ (398,898)	1,083,435	2,227,843	(117,488)	126,340	2,795,527
Common Stock, Shares, Outstanding, Ending Balance at Dec. 31, 2014	241,449,000
Treasury Stock, Shares, Ending Balance at Dec. 31, 2014		19,971,000
Proceeds from exercise of stock options, including related tax effect	$ 1	$ (211)	10,975				10,765
Proceeds from exercise of stock options, including related tax effect (in shares)	737,000	10,000
Dividends declared				(133,227)			(133,227)
Noncontrolling investors, net				(1,082)	2,269		1,187
Equity-based compensation	$ 2	$ 2,654	15,843	(96)			18,403
Equity-based compensation (in shares)	904,000	(133,000)
Comprehensive and net income (loss)				(130,311)	(14,859)		(145,170)
Balances at Dec. 31, 2015	$ 638	$ (396,455)	1,110,253	1,965,291	(134,616)	126,340	$ 2,545,111
Common Stock, Shares, Outstanding, Ending Balance at Dec. 31, 2015	243,090,000						243,089,514
Treasury Stock, Shares, Ending Balance at Dec. 31, 2015		19,848,000					19,847,625
Proceeds from exercise of stock options, including related tax effect	$ 3		9,834				$ 9,837
Proceeds from exercise of stock options, including related tax effect (in shares)	556,000	12,000
Dividends declared				(136,472)			(136,472)
Noncontrolling investors, net				356	(7,164)	15,100	(6,808)
Share repurchases		$ (25,034)					$ (25,034)
Share repurchases (in shares)	(732,000)	732,000					732,000
Equity-based compensation		$ 4,660	12,662	(119)			$ 17,203
Equity-based compensation (in shares)	871,000	(247,000)
Comprehensive and net income (loss)				382,115	(22,109)		360,006
Balances at Dec. 31, 2016	$ 641	$ (416,829)	$ 1,132,749	$ 2,210,459	$ (149,561)	$ 111,240	$ 2,777,459
Common Stock, Shares, Outstanding, Ending Balance at Dec. 31, 2016	243,785,000						243,785,485
Treasury Stock, Shares, Ending Balance at Dec. 31, 2016		20,345,000					20,345,059

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating activities:
Net income (loss)	$ 360,006	$ (145,170)	$ 91,650
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	296,109	294,595	263,325
Impairment charges	132,839	428,500	260,000
Equity-based compensation	31,656	30,181	24,035
Deferred income taxes	53,846	(99,323)	(25,042)
Other adjustments	20,676	19,886	6,218
Changes in certain assets and liabilities:
Accounts receivable	(106,617)	311,302	(2,191)
Inventories	(115,575)	488,003	68,730
Other assets	12,053	(450)	2,407
Accounts payable	106,521	(227,092)	(76,141)
Income taxes receivable/payable	(13,921)	12,706	(22,086)
Accrued expenses	75,176	(59,513)	37,319
Net cash provided by operating activities	852,769	1,053,625	628,224
Investing activities:
Purchases of property, plant and equipment	(198,160)	(114,501)	(111,785)
Acquisition of business, net of cash acquired	(123,351)	(45,000)	(1,669,449)
Other investing activities	8,618	16,874	33,967
Net cash used in investing activities	(312,893)	(142,627)	(1,747,267)
Financing activities:
Issuance of current and long-term debt	473,903	207,930	1,822,096
Repayment of current and long-term debt	(728,993)	(625,924)	(635,578)
Dividends paid	(135,767)	(127,569)	(105,379)
Proceeds from exercise of stock options, including related tax effect	9,564	10,781	32,307
Purchase of treasury stock	(25,034)
Other financing activities	(19,098)	(10,547)	(28,196)
Net cash provided by (used in) financing activities	(425,425)	(545,329)	1,085,250
Increase (decrease) in cash and equivalents	114,451	365,669	(33,793)
Cash and equivalents at beginning of period	727,032	361,363	395,156
Cash and equivalents at end of period	841,483	727,032	361,363
Supplemental disclosure information:
Cash paid for interest	150,679	160,190	114,310
Cash paid (refunded) for income taxes, net	$ 159,950	$ (9,898)	$ 120,521

Description of the Business and

Description of the Business and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Description of the Business and Significant Accounting Policies
Description of the Business and Significant Accounting Policies	Note 1 . D escription of the Business and Summary of Significant Accounting Policies  Description of the Business Steel Dynamics, Inc. (SDI), together with its subsidiaries (the company), is a domestic manufacturer of steel products and metals recycler. The company has three reporting segments: steel operations, metals recycling operations, and steel fabrication operations. Approximately 9% of the company’s workforce in six locations is represented by collective bargaining agreements, and agreements affecting 7% of the company’s employees at four locations expire during 2017. Steel Operations Segment Steel operations include the company’s Butler Flat Roll Division, Columbus Flat Roll Division – acquired September 16, 2014, The Techs galvanizing lines, Structural and Rail Division, Engineered Bar Products Division, Vulcan Threaded Products, Inc. – acquired August 1, 2016, Roanoke Bar Division, Steel of West Virginia, and Iron Dynamics (IDI), a liquid pig iron (scrap substitute) production facility that supplies solely the Butler Flat Roll Division. These operations include electric arc furnace steel mills, producing steel from ferrous scrap and scrap substitutes, utilizing continuous casting, automated rolling mills and eleven downstream coating lines, and several bar processing lines. Steel operations accounted for 72% , 69% , and 63% of the company’s consolidated net sales during 2016 , 2015 , and 2014 , respectively. Butler and Columbus Flat Roll Divisions sell a broad range of sheet steel products, such as hot roll, cold roll and coated steel products, including a wide variety of specialty products, such as light gauge hot roll, galvanized, Galvalume ® , and painted products. The Techs is comprised of three galvanizing lines which sell specialized galvanized sheet steels used in non-automotive applications . The Structural and Rail Division sells structural steel beams and pilings to the construction market, as well as standard ‑grade and premium rail to the railroad industry. The Engineered Bar Products Division primarily sells engineered, special-bar-quality and merchant-bar-quality rounds, round ‑cornered squares, and smaller-diameter round engineered bars. Vulcan Threaded Products Inc. (Vulcan), acquired August 1, 2016, produces threaded rod products and also cold drawn and heat treated bar. The Roanoke Bar Division primarily sells merchant steel products, including angles, channels and flats, merchant rounds, and reinforcing bar. Steel of West Virginia primarily sells beams, channels and specialty steel sections. The company’s steel operations sell directly to end-users and service centers. These products are used in numerous industry sectors, including the construction, automotive, manufacturing, transportation, heavy and agriculture equipment, and pipe and tube (including OCTG) markets.  Metals Recycling Operations Segment Metals recycling operations consists solely of OmniSource Corporation (OmniSource), and includes both ferrous and nonferrous processing, transportation, marketing, brokerage, and consulting services . Metals recycling operations accounted for 15% , 19% and 25% of the company’s consolidated net sales during 2016 , 2015 , and 2014 , respectively. Steel Fabrication Operations Segment Steel fabrication operations include the company’s eight New Millennium Building Systems’ joist and deck plants located throughout the United States and in Northern Mexico. Revenues from these plants are generated from the fabrication of trusses, girders, steel joists and steel deck used within the non-residential construction industry. Steel fabrication operations accounted for 9% of the company’s consolidated net sales during 2016 and 2015 , and 7% in 2014 . Other Other operations consists of subsidiary operations that are below the quantitative thresholds required for reportable segments and primarily consist of our Minnesota ironmaking operations that were indefinitely idled in May 2015, and other smaller joint ventures. Also included in “Other” are certain unallocated corporate accounts, such as the company’s senior secured credit facility, senior notes, certain other investments and certain profit sharing expenses.  Our Minnesota ironmaking operations consist of Mesabi Nugget, (owned 83% by us); our wholly-owned iron concentrate and potential future iron mining operations, Mesabi Mining; and our wholly-owned (as of December 31, 2016) iron tailings operations, Mining Resources. The Minnesota ironmaking operations were indefinitely idled in May 2015. As of December 31, 2016, the company acquired all $15.1 million of the Mining Resources noncontrolling investor’s redeemable noncontrolling units for cancellation and discharge of all obligations owed to Mining Resources and termination of all existing agreements with the noncontrolling investor. Prior to this transaction, the company owned 82% of Mining Resources.  Note 1. Description of the Business and Summary of Significant Accounting Policies (Continued) Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of SDI, together with its wholly and majority-owned or controlled subsidiaries, after elimination of significant intercompany accounts and transactions. Noncontrolling interests represent the noncontrolling owner’s proportionate share in the equity, income, or losses of the company’s majority-owned or controlled consolidated subsidiaries. Use of Estimates These financial statements are prepared in conformity with accounting principles generally accepted in the United States, and accordingly, include amounts that require management to make estimates and assumptions that affect the amounts reported in the financial statements and in the notes thereto. Significant items subject to such estimates and assumptions include the carrying value of property, plant and equipment, intangible assets, and goodwill; valuation allowances for trade receivables, inventories and deferred income tax assets; unrecognized tax benefits; potential environmental liabilities; and litigation claims and settlements. Actual results may differ from these estimates and assumptions. Revenue Recognition and Allowances for Doubtful Accounts  Except for the steel fabrication operations, the company recognizes revenues from sales and the allowance for estimated returns and claims from these sales at the time the title of the product transfers, upon shipment. Provision is made for estimated product returns and customer claims based on historical experience. If the historical data used in the estimates does not reflect future returns and claims trends, additional provision may be necessary. The company’s steel fabrication operations recognizes revenues from construction contracts utilizing a percentage of completion methodology based on steel tons used on completed units to date as a percentage of estimated total steel tons required for each contract. The allowance for doubtful accounts for all operating segments is based on the company’s best estimate of probable credit losses, along with historical experience.  Cash and Equivalents Cash and equivalents include all highly liquid investments with a maturity of three months or less at the date of acquisition. Restricted cash is primarily funds held in escrow as required by various insurance and government organizations.  Inventories Inventories are stated at lower of cost or market. Cost is determined using a weighted average cost method for raw materials and supplies, and on a first-in, first-out, basis for other inventory . Inventory consisted of the following at December 31 (in thousands):     2016 2015  Raw materials $ 515,924 $ 419,608  Supplies 383,134 396,349  Work in progress 103,606 90,486  Finished goods 272,547 242,947  Total inventories $ 1,275,211 $ 1,149,390  Property, Plant and Equipment Property, plant and equipment are stated at cost, which includes capitalized interest on construction in progress amounts, and is reduced by proceeds received from certain state and local government grants and other capital cost reimbursements. The company assigns each fixed asset a useful life ranging from 3 to 20 years for plant, machinery and equipment and 10 to 40 years for buildings and improvements. Repairs and maintenance are expensed as incurred. Depreciation is provided utilizing the straight-line depreciation methodology, or the units-of-production depreciation methodology for certain production related assets, based on units produced, subject to a minimum and maximum level. Depreciation expense was $260.6 million, $263.2 million, and $229.4 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Refer to Impairment of Long-Lived Tangible and Definite-Lived Other Tangible Assets below in Note 1 for discussions regarding the impairments of various property, plant and equipment in 2016, 2015 and 2014.     Note 1. Description of the Business and Summary of Significant Accounting Policies (Continued) The company’s property, plant and equipment consisted of the following at December 31 (in thousands):      2016 2015  Land and improvements $ 311,005 $ 328,739  Buildings and improvements 709,809 706,708  Plant, machinery and equipment 3,975,560 3,966,181  Construction in progress 70,615 76,074  5,066,989 5,077,702  Less accumulated depreciation 2,279,774 2,126,492  Property, plant and equipment, net $ 2,787,215 $ 2,951,210  Intangible Assets The company’s intangible assets consisted of the following at December 31 (in thousands):     Weighted  Average  Useful Amortization  2016 2015 Life Period  Customer and scrap generator relationships $ 446,688 $ 420,400 10 to 25 years 19 years  Trade names 130,550 85,000 15 to 25 years 18 years  Trade name - 39,500 Indefinite  Other 1,415 - 3 years 3 years  578,653 544,900 19 years  Less accumulated amortization 294,676 265,940  $ 283,977 $ 278,960  Refer to “Impairment of Goodwill and Indefinite-Lived Intangible Assets” below in Note 1 for discussion regarding the 2015 impairment of the OmniSource trade name. The company utilizes an accelerated amortization methodology for customer and scrap generator relationships in order to follow the pattern in which the economic benefits of the amounts are anticipated to be consumed. Trade names are amortized using a straight-line methodology. The company determined that the useful lives were no longer indefinite and began to amortize The Techs $81.8 million trade name in January 2016, and the OmniSource $39.5 million trade name in November 2016. Amortization of intangible assets was $28.8 million, $24.2 million, and $26.5 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively . Estimated amortization expense, related to amortizable intangibles, for the years ending December 31 is as follows (in thousands):     2017 $ 29,068  2018 26,434  2019 24,330  2020 22,204  2021 20,415  Thereafter 161,526  Total $ 283,977  Impairment of Long-Lived Tangible and Definite ‑Lived Intangible Assets The company reviews long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of such assets may not be fully recoverable. Impairment losses are recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amounts. The impairment loss is measured by comparing the fair value of the asset to its carrying amount. The company considers various factors and determine whether an impairment test is necessary, including by way of examples, a significant and prolonged deterioration in operating results and/or projected cash flows, significant changes in the extent or manner in which an asset is used, technological advances with respect to assets which would potentially render them obsolete, our strategy and capital planning, and the economic climate in markets to be served. Note 1. Description of the Business and Summary of Significant Accounting Policies (Continued) A long-lived asset is classified as held for sale upon meeting specified criteria related to ability and intent to sell. An asset classified as held for sale is measured at the lower of its carrying amount or fair value less cost to sell. As of December 31, 2016 and 2015, the company reported $29.3 and $8.6 million, respectively, of assets held for sale within other current assets in our consolidated balance sheet. An impairment loss is recognized for any initial or subsequent write-down of the asset held for sale to its fair value less cost to sell. For assets determined to be classified as held for sale in the year ended December, 31, 2016, the asset carrying amounts approximated their fair value less cost to sell. The company recorded $10.3 million asset impairment charge in the consolidated statement of operations for assets determined to be classified as held for sale in the year ended December 31, 2015. The company determined fair value using Level 3 inputs as provided for under ASC 820, consisting of information provided by brokers and other external sources along with management’s own assumptions.  Significant events occurred during the fourth quarter of 2016, including the previously noted termination of all existing agreements with the Mining Resources noncontrolling investor, that represented impairment indicators related primarily to Mining Resources and Mesabi Mining fixed assets within our Minnesota ironmaking operations. These impairment indicators were substantively separate and different from the impairment indicators that existed within our Minnesota ironmaking operations in the fourth quarter of 2014, discussed below. Therefore, we undertook a fourth quarter 2016 assessment of the recoverability of the carrying amounts of primarily our Mining Resources and Mesabi Mining operation’s fixed assets. With the company’s outlook at the time of this 2016 assessment regarding future cash flows, the company concluded that the carrying amounts of the fixed assets were no longer fully recoverable, and they were in fact impaired. This 2016 assessment resulted in a non-cash asset impairment charge of $127.3 million, including amounts attributable to noncontrolling interests of $13.1 million, which reduced net income attributable to Steel Dynamics, Inc. by $72.9 million for the year ended December 31, 2016. During the fourth quarter of 2014, our Minnesota ironmaking operations reached a steady operating state, indicating a consistency in the operations’ production capability, processes and cost structure, including the ability to utilize certain lower-cost raw materials. Given our outlook at that time regarding future operating costs and product pricing and resulting future cash flows, we concluded that the carrying amounts of primarily our Mesabi Nugget fixed assets, within our Minnesota ironmaking operations, were no longer fully recoverable, and were in fact impaired. This 2014 assessment resulted in non-cash asset impairment charge of $260.0 million, including amounts attributable to noncontrolling interests of $46.5 million, which reduced net income attributable to Steel Dynamics, Inc. by $132.6 million for the year ended December 31, 2014. The carrying values of the impaired assets were adjusted to their estimated fair values at that time as determined primarily on the cost approach, as well as expected future discounted cash flows (an income approach), using Level 3 inputs as provided for under ASC 820. Goodwill The company’s goodwill is allocated to the following reporting units at December 31 (in thousands):   2016 2015  Columbus Flat Roll Division – Steel Operations Segment $ 19,682 $ 19,682  The Techs – Steel Operations Segment 142,783 142,783  Vulcan Threaded Products – Steel Operations Segment 7,824 -  Roanoke Bar Division – Steel Operations Segment 29,041 29,041  Butler Flat Roll Division, Structural and Rail Division, and Engineered  Bar Division – Metals Recycling Operations Segment 95,000 95,000  OmniSource – Metals Recycling Operations Segment 97,096 109,039  New Millennium Building Systems – Steel Fabrication Operations Segment 1,925 1,925  $ 393,351 $ 397,470  In 2016, a $5.5 million OmniSource goodwill impairment charge was recorded in conjunction with OmniSource entering into a definitive sale agreement with a third-party pertaining to certain OmniSource long-lived assets (classified and reported as held for sale as of December 31, 2016), inventory and spare parts, as provided under ASC 350. OmniSource goodwill decreased an additional $6.4 million in 2016 in recognition of the 2016 tax benefit related to the normal amortization of the component of OmniSource tax-deductible goodwill in excess of book goodwill. In 2015, a $341.3 million OmniSource goodwill impairment charge was recorded pursuant to the company’s annual review for impairment of goodwill and indefinite-lived intangible assets, as discussed further under “Impairment of Goodwill and Indefinite-Lived Intangible Assets” below. Cumulative OmniSource goodwill impairment charges were $346.8 million at December 31, 2016, and $341.3 million at December 31, 2015.  Note 1. Description of the Business and Summary of Significant Accounting Policies (Continued) Impairment of Goodwill and Indefinite ‑Lived Intangible Assets At least once annually (as of October 1) or when indicators of impairment exist, the company performs an impairment test for goodwill and other indefinite-lived intangible assets. Goodwill is allocated to various reporting units, which are generally one level below the company’s operating segments. The company utilizes a two-stepped approach to evaluate goodwill impairment. The first step of the test determines if there is potential goodwill impairment. In this step, the company compares the fair value of the reporting unit to its carrying amount (which includes goodwill). The fair value of the reporting unit is determined by using an estimate of future cash flows utilizing a risk-adjusted discount rate to calculate the net present value of future cash flows (income approach), and by using a market approach based upon an analysis of valuation metrics of comparable peer companies, Level 3 inputs as provided for under ASC 820. If the fair value exceeds the carrying value, there is no impairment. If the carrying amount exceeds the fair value, the company performs the second step of the test, which measures the amount of impairment loss to be recorded. In the second step, the company compares the carrying amount of the goodwill to the implied fair value of the goodwill based on the net fair value of the recognized and unrecognized assets and liabilities of the reporting unit to which it is allocated. If the implied fair value is less than the carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill is less than its carrying value. At least once annually (as of October 1) or when indicators of impairment exist, the company tests indefinite-lived intangible assets for impairment through the comparison of the fair value of the specific intangible asset with its carrying amount. The fair value of the intangible asset is determined by using an estimate of future cash flows attributable to the asset and a risk-adjusted discount rate to compute a net present value of future cash flows (income approach). If the fair value is less than the carrying value, an impairment loss is recorded in an amount equal to the excess in carrying value. During the company’s 2015 annual goodwill and indefinite-lived intangible asset impairment analysis, we determined that the fair value of OmniSource was less than its carrying value, and upon the completion of the second step of the impairment analysis, that the goodwill and trade name indefinite-lived intangible assets were impaired. The decrease in OmniSource fair value from our 2014 impairment analysis was due primarily to the reduction in expected future cash flows based on management’s view at the time of the 2015 analysis of the weak longer-term global scrap commodity outlook. This outlook became clearer in the fourth quarter of 2015 from the longevity of: 1) the prolonged strength of the United States dollar decreasing scrap export volume (resulting in excess domestic supply); 2) currency devaluation contributing to China and Russia supplying alternative scrap materials to Turkey, versus those coming from the United States; and 3) slower global growth decreasing demand for scrap. While the scrap commodity outlook deteriorated throughout much of 2015, there were indicators of improvement during the year such as the restoration of the ratio of iron ore to scrap costs to a more historically consistent relationship, as well as a mid-year scrap pricing increase, versus the monthly decreases experienced throughout much of the year, including large decreases in both the first and fourth quarters. Upon the fourth quarter decrease in selling prices and resulting metal spreads, we concluded that the impact of the factors noted above were longer-term, which resulted in our reassessment of our future long-term cash flows. The OmniSource goodwill and trade name indefinite-lived intangible assets were written down to their respective fair values at that time, resulting in non-cash asset impairment charges of $341.3 million and $68.5 million, respectively, that are reflected in asset impairment charges in the consolidated statement of operations for the year ended December 31, 2015, within the metals recycling operations. No impairment was identified during the company’s 2016 annual goodwill and indefinite-lived intangible asset impairment analysis. Equity ‑Based Compensation The company has several stock ‑based employee compensation plans which are more fully described in Note 6. Compensation expense for restricted stock units, deferred stock units, restricted stock, and performance awards is recorded over the vesting periods using the fair value as determined by the closing fair market value of the company’s common stock on the grant date, and with respect to performance awards, an estimate of probability of award achievement during the performance period. The company recognizes forfeitures as they occur. Compensation expense for these stock ‑based employee compensation plans was $30.4 million, $27.1 million, and $22.8 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Income Taxes The company accounts for income taxes and the related accounts under the liability method. Deferred tax liabilities and assets are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted rates expected to be in effect during the year in which the basis differences reverse. Note 1. Description of the Business and Summary of Significant Accounting Policies (Continued) Earnings Per Share Basic earnings per share is based on the weighted average shares of common stock outstanding during the period. Diluted earnings per share assumes the weighted average dilutive effect of common share equivalents outstanding during the period applied to the company’s basic earnings per share. Common share equivalents represent potentially dilutive restricted stock units, deferred stock units, and stock options, and in 2014 dilutive shares related to the company’s convertible subordinated debt; and are excluded from the computation in periods in which they have an anti-dilutive effect. There were no anti-dilutive common stock equivalents as of and for the years ended December 31, 2016, and 2014 . There were 1.5 million anti-dilutive common stock equivalents as of and for the year ended December 31, 2015 . The following table presents a reconciliation of the numerators and the denominators of the company’s basic and diluted earnings per share computations for the years ended December 31 (in thousands, except per share data):      2016 2015  Net Income Shares Per Share Net Loss Shares Per Share  (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount  Basic earnings per share $ 382,115 243,576 $ 1.57 $ (130,311) 242,017 $ (0.54)  Dilutive restricted stock and deferred  stock units, and stock options - 1,722 - -  Diluted earnings per share $ 382,115 245,298 $ 1.56 $ (130,311) 242,017 $ (0.54)     2014  Net Income Shares Per Share  (Numerator) (Denominator) Amount  Basic earnings per share $ 157,024 232,547 $ 0.68  Dilutive restricted stock and deferred  stock units, and stock options - 1,828  5.125% convertible senior notes 4,327 7,703  Diluted earnings per share $ 161,351 242,078 $ 0.67  Concentration of Credit Risk Financial instruments that potentially subject the company to significant concentrations of credit risk principally consist of temporary cash investments and accounts receivable. The company places its temporary cash investments with high credit quality financial institutions and companies, and limits the amount of credit exposure from any one entity. The company is exposed to credit risk in the event of nonpayment by customers. The company mitigates its exposure to credit risk, which it generally extends initially on an unsecured basis, by performing ongoing credit evaluations and taking further action if necessary, such as requiring letters of credit or other security interests to support the customer receivable. Management’s estimation of the allowance for doubtful accounts is based upon known credit risks, historical loss experience and current economic conditions affecting the company’s customers. Customer accounts receivable are charged off when all collection efforts have been exhausted and the amounts are deemed uncollectible. Heidtman Steel Products (Heidtman), a related party, accounted for 3% and 5% of the company’s net accounts receivable at December 31, 2016 , and 2015, respectively . Derivative Financial Instruments The company recognizes all derivatives as either assets or liabilities in the consolidated balance sheets and measures those instruments at fair value. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. Changes in the fair value of derivatives that are designated as hedges, depending on the nature of the hedge, are recognized as either an offset against the change in fair value of the hedged balance sheet item in the case of fair value hedges or as other comprehensive income in the case of cash flow hedges, until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is immediately recognized in earnings. The company offsets fair value amounts recognized for derivative instruments executed with the same counterparty under master netting agreements.  Note 1. Description of the Business and Summary of Significant Accounting Policies (Continued) In the normal course of business, the company has derivative financial instruments in the form of forward contracts in various commodities, may have involvement with derivative financial instruments related to managing fluctuations in foreign exchange rates, and in the past has had derivative financial instruments related to managing fluctuations in interest rates. At the time of acquiring these financial instruments, the company designates and assigns these instruments as hedges of specific assets, liabilities or anticipated transactions. When hedged assets or liabilities are sold or extinguished, or the anticipated transaction being hedged is no longer expected to occur, the company recognizes the gain or loss on the designated hedged financial instrument. The company routinely enters into forward contracts in various commodities, primarily nonferrous metals (specifically aluminum and copper) in our metals recycling operations, to reduce exposure to commodity related price fluctuations. The company does not enter into these derivative financial instruments for speculative purposes. Recently Adopted/Issued Accounting Standards  In March 2016, the FASB issued Improvement to Employee Share-based Payment Accounting (ASU 2016-09), which simplifies several aspects of accounting for share-based payment transactions, including recognizing excess tax benefits and deficiencies as income tax expense or benefit in the income statement and as operating activities within the statement of cash flows, and an option to recognize gross stock compensation expense with actual forfeitures recognized as incurred. This new guidance is effective for annual and interim periods beginning after December 15, 2016, but can be early adopted. The company early adopted the provisions of ASU 2016-09 effective December 31, 2016. As a result of adoption, an income tax benefit of $5.0 million has been recorded to reflect the excess tax benefit of share-based payments during 2016. Excess tax benefits in 2015 and 2014 recorded through equity (additional paid-in capital) were not changed, and thus tax expense as previously reported for 2015 and 2014 were not affected. Cash paid to tax authorities from shares withheld to satisfy the company’s statutory income tax withholding obligation of $13.4 million in 2016 are presented as financing activity in the 2016 statement of cash flows, and $8.8 million and $10.7 million in 2015 and 2014, respectively, were reclassified to financing activity from operating activity in the 2015 and 2014 statement of cash flows. In August 2016, the FASB issued Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15), to clarify how entities should classify certain cash receipts and cash payments on the statement of cash flows. The new guidance is effective for years beginning after December 15, 2018, but can be early adopted, and is generally applied on a retrospective basis. The company early adopted the provisions of ASU 2016-15 effective December 31, 2016. As a result of adoption, cash payments for debt extinguishment costs of $13.4 million in 2016 have been included in repayments of current and long-term debt financing activity in the statement of cash flows, and $13.4 million of cash payments for debt extinguishment costs in 2015 have been reclassified from operating activity to repayments of current and long-term debt financing activity in the statement of cash flows. In addition, $7.0 million was reclassified from operating activity to investing activity in the 2015 statement of cash flows. In May 2014, the FASB issued ASU 2014-09, which is codified in ASC 606, Revenue Recognition – Revenue from Contracts with Customers, which amends the guidance in former ASC 605, Revenue Recognition . FASB has since issued clarifying guidance in the form of ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Consideration (Reporting Revenue Gross versus Net) , ASU 2016-10, Revenue from Contract with Customers : Identifying Performance Obligations and Licensing , and ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients, collectively (ASC 606). The core principle of ASC 606 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASC 606 also requires additional disclosures to help users of financial statements better understand the nature, amount, timing, and potential uncertainty of revenue that is recognized. ASC 606 guidance is effective for annual and interim periods beginning after December 15, 2017, but can be early adopted for annual and interim periods ending after December 15, 2016, using a full retrospective or modified retrospective approach. The company is currently working through an adoption plan and has identified current revenue streams and initially analyzed those revenue streams pursuant to the new accounting requirements. The company intends to complete the adoption plan during the second half of 2017, including final determination of whether the accounting impact of ASC 606 significantly differs from the company’s current revenue accounting, evaluating and concluding on the timing and method of adoption and related disclosure, and determine whether implementation of the new standard may affect functions, processes and systems within the company. Based on our analysis within the adoption plan completed to date, the company preliminarily does not believe there will be signific

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2016
Acquisitions
Acquisitions	Note 2. Acquisitions  Vulcan Threaded Products, Inc.  On August 1, 2016, the company acquired 100% of Vulcan Threaded Products, Inc. (Vulcan) in Pelham, Alabama, for $113.0 million in cash from available funds. Vulcan is the nation’s largest manufacturer and supplier of threaded rod products, and also produces cold drawn and heat treated bar. The acquisition of Vulcan is consistent with one of our target growth objectives – higher-margin downstream business opportunities that utilize our steel products in their manufacturing processes. Vulcan utilizes special-bar-quality products produced at our Engineered Bar Products Division. Post-closing operating results of Vulcan are reflected in the steel operations reporting segment.  The aggregate purchase price was allocated to the opening balance sheet of Vulcan as of the August 1, 2016, acquisition date, based on the company’s valuation of the fair value of the acquired assets, assumed liabilities, and identifiable intangible assets (in thousands). The fair values were determined using various valuation techniques that in each case used Level 3 inputs as provided for under ASC 820.    Current assets, net of cash acquired $ 37,242  Property, plant & equipment 40,213  Intangible assets 32,930  Goodwill 7,824  Total assets acquired 118,209  Liabilities assumed 5,197  Net assets acquired $ 113,012  The intangible assets acquired include customer relationships of $25.6 million, trade name of $6.1 million, and other intangibles of $1.2 million. The company utilizes an accelerated amortization methodology to follow the pattern in which the economic benefits of the customer relationship intangible asset is anticipated to be consumed over its 20 year assigned life. The company amortizes the intangible assets related to the trade name using a straight-line methodology over its 25 year assigned life. Amortization expense for these intangible assets was $872,000 in 2016, and will be $2,652,000 in 2017, $2,552,000 in 2018, $2,081,000 in 2019, $1,742,000 in 2020, $1,642,000 in 2021, and $21.4 million thereafter.  Consolidated Systems, Inc.  On September 14, 2015, the company purchased from CSi certain of its steel deck facilities (including associated assets) and net working capital of approximately $30.0 million, for a purchase price of $45.0 million in cash. Operating results of these facilities have been reflected in the company’s financial statements under the steel fabrication operations since the September 14, 2015, purchase date. The purchased assets include two deck facilities located in Memphis, Tennessee, and Phoenix, Arizona. Producing both standard and premium specialty deck profiles, the new locations will allow for enhanced geographic reach into the southwestern and western markets, and further diversify New Millennium Building Systems’ product offerings. 

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2016
Long-Term Debt
Long-Term Debt	Note 3. Long-Term Debt The company’s borrowings consisted of the following at December 31 (in thousands):    2016 2015  5.125% senior notes due 2021 $ 700,000 $ 700,000  6 3 / 8 % senior notes due 2022 350,000 350,000  5 1 / 4 % senior notes due 2023 400,000 400,000  5.500% senior notes due 2024 500,000 500,000  5.000% senior notes due 2026 400,000 -  6 1 / 8 % senior notes due 2019 - 400,000  Senior term loan - 237,500  Other obligations 36,791 40,634  Total debt 2,386,791 2,628,134  Less debt issuance costs 29,965 33,478  Total amounts outstanding 2,356,826 2,594,656  Less current maturities 3,632 16,680  Long-term debt $ 2,353,194 $ 2,577,976  Financing Activity In December 2016, the company issued $400.0 million of 5.000% senior notes due 2026 (the "2026 Notes"), the proceeds of which, along with available cash, were used to fund the December 2016 tender offer to purchase at a redemption price of 103.388% a total of $266.3 million principal amount, plus accrued and unpaid interest to, but not including, the date of repurchase, of the company's 6.125% senior notes due 2019 (the "2019 Notes"), and the December 2016 call and repayment at a redemption price of 103.063% of the $133.7 million remaining outstanding principal amount of the 2016 Notes plus accrued and unpaid interest to, but not including, the date of repayment. In addition, the company repaid the remaining $228.1 million of outstanding senior secured term loan debt with available cash in December 2016, which was set to mature in November 2019. The company recorded expenses related to tender and call premiums, write off of unamortized debt issuance costs, and other expenses of $16.5 million, which are reflected in other expenses in the consolidated statement of operations for the year ended December 31, 2016. On March 16, 2015, the company called and repaid all $350.0 million of its outstanding 7 5 / 8 % Senior Notes due 2020 (the “2020 Notes”) at a redemption price of 103.813% of the principal amount of the 2020 Notes, plus accrued and unpaid interest to, but not including, the date of redemption. Associated premiums and the write off of deferred financing costs of approximately $16.7 million were recorded in other expense in conjunction with the redemption. In September 2014, the company issued $700.0 million of 5.125% Senior Notes due 2021 (the “2021 Senior Notes”) and $500.0 million of 5.500% Senior Notes due 2024 (the “2024 Senior Notes”), combined the “Senior Notes”. The proceeds from the issuance of the Senior Notes, along with cash on hand and borrowings under the company’s then existing senior secured credit facility, were used to fund the September 16, 2014 acquisition of the Columbus Flat Roll Division. In June 2014, holders of $271.8 million principal amount of the company’s 5.125% Convertible Senior Notes due June 15, 2014 (the “Convertible Notes”), exercised their option to convert the Convertible Notes into shares of common stock by the close of business on June 12, 2014, the conversion election deadline. The conversion rate provided under the terms of the Convertible Notes was 58.4731 shares of common stock per $1,000 principal amount of Convertible Notes, equivalent to a conversion price of approximately $17.10 per share of common stock, resulting in the company issuing a total of 15,893,457 shares of common stock from treasury shares upon conversion of the Convertible Notes. The remaining $15.7 million of the outstanding Convertible Notes was paid in cash on June 16, 2014. Note 3. Long-Term Debt (Continued) Senior Secured Credit Facility, due 2019 The company’s November 2014 senior secured credit facility (“Facility”), which provides a $1.2 billion Revolver, matures November 2019. Subject to certain conditions, the company has the opportunity to increase the Revolver size by at least $750.0 million. The Facility is guaranteed by certain of the company’s subsidiaries; and is secured by substantially all of the company’s and its wholly-owned subsidiaries’ receivables and inventories, and by pledges of all shares of the company’s wholly-owned subsidiaries’ capital stock or other equity interests, and intercompany debt held by the company as collateral. The Revolver is available to fund working capital, capital expenditures, and other general corporate purposes. The Facility pricing grid is adjusted quarterly, and is based on the company’s leverage of net debt (as defined in the Facility) to last-twelve-months (LTM) consolidated adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, and certain other non-cash transactions as allowed in the Facility). The minimum pricing is LIBOR plus 1.00% or Prime, and the maximum pricing is LIBOR plus 2.00% or Prime plus 1.00% . In addition, the company is subject to an unused commitment fee of between 0.225% and 0.375% (based on leverage of net debt to LTM EBITDA) which is applied to the unused portion of the Revolver each quarter. The Facility contains financial covenants and other covenants pertaining to the company’s ability (which may under certain circumstances be limited) to make capital expenditures; incur indebtedness; permit liens on property; enter into transactions with affiliates; make restricted payments or investments; enter into mergers, acquisitions or consolidations; conduct asset sales; pay dividends or distributions, or enter into other specified transactions and activities. The company’s ability to borrow funds within the terms of the Revolver is dependent upon its continued compliance with the financial and other covenants. At December 31, 2016 , the company had $1.2 billion of availability on the Revolver, $12.4 million of outstanding letters of credit and other obligations which reduce availability, and there were no borrowings outstanding. The financial covenants under the company’s Facility state that it must maintain an interest coverage ratio of not less than 2.50 : 1.00. The company’s interest coverage ratio is calculated by dividing its LTM consolidated adjusted EBITDA by its LTM gross interest expense less amortization of financing fees. In addition, a net debt (as defined in the Facility) to LTM consolidated adjusted EBITDA (net debt leverage ratio) of not more than 5.00 :1.00 must be maintained. If the net debt leverage ratio exceeds 3.50 :1:00 at any time, the company’s ability to make certain payments as defined in the Facility (which includes cash dividends to stockholders and share purchases, among other things), is limited. At December 31, 2016 , the company’s interest coverage ratio and net debt leverage ratio were 8.32 :1.00 and 1.58 :1.00, respectively. The company was therefore in compliance with these covenants at December 31, 2016, and anticipates remaining in compliance during the next twelve months. Note 3. Long-Term Debt (Continued) Senior Unsecured Notes  We have five different tranches of senior unsecured notes (Notes) outstanding. These Notes are in equal right of payment with all existing and future senior unsecured indebtedness and are senior in right of payment to all subordinated indebtedness. These Notes contain provisions that allow the company to redeem the senior notes on or after the dates and at redemption prices (expressed as a percentage of principal amount) listed below. Additionally, these Notes generally allow the company to redeem some or all of the Notes by paying a “make-whole” premium any time prior to the dates listed below. The company may redeem up to 35% of each of the Notes at a redemption price and by the dates listed below using the proceeds from the sales of the company’s common stock. See the key terms of each of the Notes outstanding below.      Issue 2021 Notes 2022 Notes 2023 Notes 2024 Notes 2026 Notes  Outstanding Balance $700.0 million $350.0 million $400.0 million $500.0 million $400.0 million  Stated Interest Rate 5.125% 6 3 / 8 % 5 1 / 4 % 5.500% 5.000%  Semi-Annual Interest Payment Dates April 1 and February 15 and April 15 and April 1 and June 15 and  October 1 August 15 October 15 October 1 December 15  Equity Redemption Option Price & Date 105.125% N/A – date N/A – date 105.500% 105.000%  October 1, 2017 passed passed October 1, 2017 December 15, 2019   “Make-whole” Option Date October 1, 2017 August 15, 2017 April 15, 2018 October 1, 2019 December 15, 2021  First Call Price & Date 102.563% 103.188% 102.625% 102.750% 102.500%  October 1, 2017 August 15, 2017 April 15, 2018 October 1, 2019 December 15, 2021   Second Call Price & Date 101.281% 102.125% 101.750% 101.833% 101.667%  October 1, 2018 August 15, 2018 April 15, 2019 October 1, 2020 December 15, 2022   Third Call Price & Date 100.000% 101.063% 100.875% 100.917% 100.833%  October 1, 2019 August 15, 2019 April 15, 2020 October 1, 2021 December 15, 2023   Fourth Call Price & Date - 100.000% 100.000% 100.000% 100.000%  August 15, 2020 April 15, 2021 October 1, 2022 December 15, 2024   Maturity Date October 1, 2021 August 15, 2022 April 15, 2023 October 1, 2024 December 15, 2026   Other Obligations Minnesota Economic Development State Secured Loans . Mesabi Nugget has loans from various Minnesota state agencies related to the construction and ultimate operation of Mesabi Nugget. These loans require monthly principal and interest payments, at a 3.5% interest rate until February 2017, and then changing to 5.0% through maturity in 2027. Amounts due under these loans were $22.3 million and $24.0 million at December 31, 2016 , and 2015 , respectively. Other Secured Loans. One of the company’s controlled subsidiaries entered into financing agreements for certain equipment which bear interest at 6.0% , with monthly principal and interest payments required through maturities in 2027 and 2028. The outstanding principal balance of these agreements was $9.5 million and $10.1 million at December 31, 2016 , and 2015 , respectively.  One of the company’s controlled subsidiaries has a secured credit agreement in 2015 which provides a revolving variable rate credit facility of up to $40.0 million, subject to a borrowing base determined from eligible accounts receivable and inventory, and other cash flow restrictions. Interest is payable monthly. There were no amounts outstanding under this credit facility as of December 31, 2016 .  Unsecured Loans. The company has an unsecured electricity transmission facility loan which bears interest at 8.1% , with monthly principal and interest payments required through maturity in 2022. The company has an unused $3.0 million stand-by letter of credit in conjunction with this loan. The outstanding principal balance was $4.2 million and $4.9 million as of December 31, 2016 , and 2015, respectively.  Note 3. Long-Term Debt (Continued) Outstanding Debt Maturities Maturities of outstanding debt as of December 31, 2016 , are as follows (in thousands):    2017 $ 3,632  2018 3,102  2019 3,292  2020 3,491  2021 703,708  Thereafter 1,669,566  $ 2,386,791  The company capitalizes interest on all qualifying construction in progress assets. For the years ended December 31, 2016 , 2015 , and 2014 , total interest costs incurred were $148.5 million, $154.4 million, and $139.7 million, respectively, of which $2.5 million, $457,000 and $2.5 million, respectively, were capitalized. 

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Taxes
Income Taxes	Note 4. Income Taxes The company files a consolidated federal income tax return. The current and deferred federal and state income tax expense (benefit) for the years ended December 31 is as follows:    2016 2015 2014  Current income tax expense $ 153,176 $ 6,391 $ 94,312  Deferred income tax expense (benefit) 50,951 (103,338) (21,159)  Total income tax expense (benefit) $ 204,127 $ (96,947) $ 73,153  A reconciliation of the statutory rates to the actual effective tax rates for the years ended December 31 are as follows:    2016 2015 2014  Statutory federal tax rate 35.0 % 35.0 % 35.0 %  State income taxes, net of federal benefit 2.6 6.3 4.6  Domestic manufacturing deduction (2.5) - (4.8)  Noncontrolling interests 1.4 (2.1) 13.9  Federal research and development tax credits (0.2) - (1.5)  Other permanent differences (0.1) 0.8 (2.8)  Effective tax rate 36.2 % 40.0 % 44.4 %  The company’s early adoption of Improvements to Employee Share-Based Payment Accounting (ASU 2016-09) on December 31, 2016, resulted in an income tax benefit of $5.0 million to reflect the excess tax benefit of share-based payments recorded during 2016. Tax expense for the years ended December 31, 2016 and 2015 was not affected. Note 4. Income Taxes (Continued) Significant components of the company’s deferred tax assets and liabilities at December 31 are as follows (in thousands):     2016 2015  Deferred tax assets  Accrued expenses and allowances $ 24,986 $ 21,205  Inventories 11,805 21,559  Net operating loss carryforwards 48,920 61,148  Intangible Assets 14,779 28,553  Other 8,491 8,684  108,981 141,149  Less: valuation allowance (33,427) (26,835)  Total net deferred tax assets 75,554 114,314   Deferred tax liabilities  Property, plant and equipment (519,977) (511,596)  Other (3,952) (3,488)  Total deferred tax liabilities (523,929) (515,084)  Net deferred tax liability $ (448,375) $ (400,770)  Certain wholly-owned and controlled subsidiaries of the company file separate federal and state income tax returns. These subsidiaries have generated federal net operating loss carryforwards of $85.6 million which expire in 2032 to 2036, and state net operating loss carryforwards which principally expire in the years 2024 to 2036. Management has considered the scheduled reversal of the deferred tax liabilities, historical taxable losses, projected taxable income and tax planning strategies in determining that it is more likely than not that the some of the deferred tax assets relating to the tax loss carryforwards of the subsidiaries will not be realized. Based on these evaluations, valuation allowances of $33.4 million and $26.8 million have been recorded as of December 31, 2016, and 2015, respectively. The $6.6 million increase in valuation allowance in the year ended December 31, 2016, primarily relates to the realizability of certain federal tax net operating loss carryforwards. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):     2016 2015 2014  Balance at January 1 $ 15,991 $ 17,338 $ 26,564  Increases related to current year tax positions 300 - 1,050  Increases related to prior year tax positions 5,452 81 653  Decreases related to prior year tax positions (535) (719) (2,298)  Settlements with taxing authorities (2,101) (70) (8,631)  Lapses in statute of limitations - (639) -  Balance at December 31 $ 19,107 $ 15,991 $ 17,338  Included in the balance of unrecognized tax benefits at December 31, 2016, are potential benefits of $11.8 million that, if recognized, would affect the effective tax rate. The company recognizes interest and penalties related to its tax contingencies on a net-of-tax basis in income tax expense. During the year ended December 31, 2016, the company recognized expense from the increase of interest expense of $170,000 , net of tax. In addition to the unrecognized tax benefits in the table above, the company had $4.8 million accrued for the payment of interest and penalties at December 31, 2016.    Note 4. Income Taxes (Continued) The company files income tax returns in the United States federal jurisdiction as well as income tax returns in various state jurisdictions. The IRS is currently examining the company’s federal income tax returns for the years 2010 through 2015. At this time the company does not believe there will be any significant examination adjustments that would result in a material change to the company’s financial position, results of operations or cash flows. It is reasonably possible that the amount of unrecognized tax benefits could change in the next twelve months as a result of these federal income tax audits, and other state income tax audits. Based on the current audits in process, the payment of taxes as a result of audit settlements could be in an amount from zero to $5.7 million by the end of 2017. With the exception of the 2010 federal return which is currently under audit, the company is no longer subject to federal, state and local income tax examinations by tax authorities for years ended before 2011.

Shareholders_ Equity

Shareholders’ Equity	12 Months Ended
	Dec. 31, 2016
Shareholders’ Equity
Shareholders’ Equity	Note 5. Shareholders’ Equity Cash Dividends The company declared cash dividends of $136.5 million, or $0.56 per common share, during 2016 ; $133.2 million, or $0.55 per common share, during 2015 ; and $108.6 million, or $0.46 per common share, during 2014 . The company paid cash dividends of $135.8 million, $127.6 million and $105.4 million during 2016 , 2015 , and 2014 , respectively. Treasury Stock During 2016, the company’s board of directors authorized a share repurchase program of up to $450.0 million of the company’s common stock in open market or private transactions, cancelling the previously authorized program. The share repurchase program does not require the company to acquire any specific number of shares and may be modified, suspended, extended or terminated by the company. The company repurchased approximately 732,000 shares for $25.0 million during 2016, and did not repurchase any shares during 2015 or 2014. At December 31, 2016, the company had authorization to repurchase $425.0 of additional shares. The share repurchase program does not have an expiration date.

Equity-based Incentive Plans

Equity-based Incentive Plans	12 Months Ended
	Dec. 31, 2016
Equity-based Incentive Plans [Abstract]
Equity-based Incentive Plans	Note 6. Equity ‑based Incentive Plans 2015 Equity Incentive Plan (2015 Plan)  The 2015 Plan was designed to attract, motivate and retain qualified persons that are able to make important contributions to the company’s success. To accomplish these objectives, the 2015 Plan provides for awards of equity ‑based incentives through granting of stock options, restricted stock units (RSUs), deferred stock units (DSUs), restricted stock awards, unrestricted stock awards, stock appreciation rights (SARs), and performance awards, such as long-term incentive compensation program (LTIP). The company’s stockholders approved the 2015 Plan in May 2015, and 12.5 million shares of common stock were reserved for issuance upon exercise of equity grants through December 31, 2025. The 2015 Plan replaced the 2006 Amended and Restated Equity Incentive Plan (Expired 2006 Plan). The 2015 Plan remains substantially the same as the Expired 2006 Plan that would have expired December 31, 2015. No further awards can be made under the Expired 2006 Plan and any shares that do not vest or are forfeited will simply be canceled. The 2015 Plan uses a fungible share concept under which any awards that are not a full-value award, such as stock options and stock appreciation rights, will be counted against the share limit as one share for each share of common stock, and awards that are full-value awards, such as RSUs, DSUs, restricted and unrestricted stock awards, and performance awards, will be counted against the share limit as 2.09 shares for each share of common stock. At December 31, 2016 , there were 7.2 million shares in the fungible share reserve still available for issuance. Substantially all of the company’s employees receive RSUs, which are granted annually in November at no cost to employees, vest 100% over the shorter of two years from grant date or upon the recipient reaching retirement eligible age ( 59 ½ years), and the stock is issued to employees upon vesting. Prior to 2012, substantially all of the company’s employees were granted stock options at an exercise price of 100% of the fair market value of the company’s common stock on the date of grant, which vested 100% six months after the date of grant, with a maximum term of five years. The company satisfies RSUs and stock options with newly issued shares, and satisfies restricted stock awards, deferred stock units, and performance awards with treasury shares. In addition to the RSUs, stock options and LTIP awards granted during the three year period ended December 31, 2016 , presented below, the company awarded 60,000 , 51,000 and 54,000 DSUs in 2016 , 2015 and 2014 , respectively, and 86,000 SARs in 2016. Note 6. Equity ‑based Incentive Plans (Continued) Restricted Stock Units  A summary of the company’s RSU activity and outstanding RSUs as of December 31, 2016 , are presented below (dollars in thousands except grant date fair value):     Weighted Aggregate  Number Average Grant Intrinsic Unrecognized  of RSUs Date Fair Value Value Compensation  Outstanding RSUs as of January 1, 2014 2,279,643 $14.97 $ 44,544 $ 22,197  Granted 1,121,416 $21.82  Vested (1,245,489) $13.20  Forfeited (144,344) $15.51  As of December 31, 2014 2,011,226 $19.85 $ 39,702 $ 25,171  Granted 1,589,309 $16.70  Vested (1,197,403) $18.13  Forfeited (124,428) $19.89  As of December 31, 2015 2,278,704 $18.55 $ 40,720 $ 27,615  Granted 852,063 $32.40  Vested (962,828) $22.76  Forfeited (139,922) $18.50  As of December 31, 2016 (nonvested) 2,028,017 $22.38 $ 72,157 $ 29,086  The weighted average remaining life before vesting of the outstanding RSUs as of December 31, 2016 , is 1.25 years. The fair value of RSUs vesting during 2016 , 2015 , and 2014 was $34.3 million, $21.4 million, and $24.6 million, respectively, and was net-share settled such that the company withheld shares with value equivalent to the employees’ minimum statutory obligation for the applicable income and other employment taxes, and remitted the cash to the appropriate taxing authorities. The total shares withheld in 2016 , 2015 , and 2014 were approximately 338,000 , 427,000 , and 444,000 shares, respectively, and were based on the value of the RSUs on their vesting dates as determined by the company’s closing stock price. Note 6. Equity ‑based Incentive Plans (Continued) Stock Options  A summary of the company’s stock option activity and certain information concerning the company’s outstanding options are presented below. There have been no stock options granted since 2011, thus the five year maximum term of the 2011 grant has expired, no stock options remain outstanding or exercisable, and there is no unrecognized stock option compensation expense at December 31, 2016.     Weighted Weighted Average  Number Average Grant Date  of Options Exercise Price Fair Value  Outstan ding options as of January 1, 2014 3,257,170 $14.84 $5.58  Exercised (1,773,872) $15.01 $5.57  Forfeited (84,783) $14.98 $5.45  As of December 31, 2014 1,398,515 $14.62 $5.61  Exercised (753,159) $14.75 $5.75  Forfeited (49,411) $15.02 $5.87  As of December 31, 2015 595,945 $14.43 $5.41  Exercised (570,197) $14.41 $5.40  Forfeited (25,748) $14.96 $5.62  As of December 31, 2016 - N/A N/A  The aggregate intrinsic value of options exercised was $5.6 million, $4.0 million, and $9.3 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Long-Term Incentive Compensation Program (LTIP)  The company maintains an LTIP performance-based program directed toward key senior executives of the company, as determined at the discretion of the Compensation Committee of the Board of Directors. Awards are in shares of the company’s common stock using the stock price on the first day of the performance period to convert each key senior executive’s predetermined multiple of annual base salary. The performance period is generally three years; however, certain transition awards were issued in 2013 with shorter performance periods. Performance is measured in terms of equal portions of revenue growth, operating margin, return on invested capital and return on equity of the company as compared to the same measures, similarly treated, of a pre - established group of steel sector competitors. Awards earned can range from zero to 100% of the shares awarded. Once earned on the basis of performance, one-third of the shares vest immediately, and the remaining shares vest equally over an additional two-year service-based vesting period requirement. The Compensation Committee granted the following three-year performance period awards, and two-year performance period transition award, which have been earned and have or will be issued over the vesting period as follows: Note 6. Equity ‑based Incentive Plans (Continued)     Maxi mum  Shares T hat Award  Could Be Issued Earned Award Issued/Issuable   2013 LTIP Award:  One-year performance period transition award 173,319 164,653 54,885 March 2014  54,884 March 2015  54,884 March 2016   Two-year performance period transition award 173,319 159,457 53,154 March 2015  66,252 March 2016  40,051 March 2017   Three-year performance period award 173,319 149,060 74,179 March 2016  37,441 March 2017  37,440 March 2018   2014 LTIP Award:  Three-year performance period award 204,740 200,644 66,882 March 2017  66,882 March 2018  66,880 March 2019  2015 LTIP Award:  Three-year performance period award 236,434 * *   2016 LTIP Award:  Three-year performance period award 324,469 * *  * Not yet earned as performance period not complete. 2013 Executive Incentive Compensation Plan (Executive Plan)  Pursuant to the company’s existing Executive Plan, certain officers and other senior management members of the company are eligible to receive cash bonuses based on predetermined formulas. In the event the cash portion of the bonus exceeds the predetermined maximum cash payout, the excess bonus up to a fixed percentage of base salary is distributed as common stock of the company, of which one-third of the shares vest immediately and the remaining shares vest equally over an additional two -year service-based vesting period requirement. The company’s stockholders approved the Executive Plan in May 2013, and 2.5 million shares of company stock were reserved for issuance through February 28, 2018. At December 31, 2016 , 2.2 million shares under the Executive Plan remained available for issuance. Pursuant to the Executive Plan, 117,000 shares were awarded with a market value of $4.0 million for the award year 2016 , no shares were awarded for the award year 2015 , and 221,900 shares were awarded with a market value of $3.8 million for the award year 2014 .  2014 Employee Stock Purchase Plan The 2014 Employee Stock Purchase Plan allows eligible employees, at their election, to purchase shares of the company’s stock on the open market at fair market value with a designated broker through payroll deductions. The maximum allowable payroll deduction for the plan, excluding company matching contributions, is $10,400 in any calendar year. The company provides matching contributions of 10% of employees’ payroll deductions. The company’s total expense for the plan was $514,000 , $468,000 , and $376,000 for the years ended December 31, 2016 , 2015 , and 2014 , respectively.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2016
Derivative Financial Instruments
Derivative Financial Instruments	   Note 7. Derivative Financial Instruments  The company is exposed to certain risks relating to its ongoing business operations. The company utilizes derivative instruments to mitigate commodity margin risk, occasionally to mitigate foreign currency exchange rate risk and have in the past to mitigate interest rate fluctuation risk. The company routinely enters into forward exchange traded futures and option contracts to manage the price risk associated with nonferrous metals inventory as well as purchases and sales of nonferrous metals (primarily aluminum and copper). The company offsets fair value amounts recognized for derivative instruments executed with the same counterparty under master netting agreements.  Commodity Futures Contracts . If the company is “long” on futures contracts, it means the company has more futures contracts purchased than futures contracts sold for the underlying commodity. If the company is “short” on a futures contract, it means the company has more futures contracts sold than futures contracts purchased for the underlying commodity . The following summarizes the company’s futures contract commitments as of December 31, 2016 (MT represents metric tons):      Commodity Futures Long/Short Total  Aluminum Long 2,125 MT  Aluminum Short 2,925 MT  Copper Long 9,109 MT  Copper Short 13,745 MT   The following summarizes the location and amounts of the fair values reported on the company’s balance sheets and gains or losses related to derivatives included in the company’s consolidated statements of operations as of and for the years ended December 31 (in thousands):      Asset Derivatives Liability Derivatives  Balance sheet Fair Value Fair Value  location December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015  Derivative instruments designated  as fair value hedges -  Commodity futures Other current assets $ 2,910 $ 857 $ 1,300 $ 2,860   Derivative instruments not designated  as hedges -  Commodity futures Other current assets 1,150 908 783 1,065  Total derivative instruments $ 4,060 $ 1,765 $ 2,083 $ 3,925   The fair value of the above derivative instruments along with required margin deposit amounts with the same counterparty under master netting agreements totaled $3.2 million and $3.4 million at December 31, 2016 , and 2015 , respectively, and are reflected in other current assets in the consolidated balance sheets.     Amount of  gain (loss) Amount of  recognized in loss recognized in  income on income on related  Location of gain derivatives Location of hedged items for  (loss) recognized for the year ended Hedged items in loss recognized the year ended  in income on December 31, fair value hedge in income on December 31,  derivatives 2016 relationships related hedged items 2016  Derivatives in fair value  hedging relationships -  Commodity futures Costs of goods sold $ 3,596 Firm commitments Costs of goods sold $ (3,901)  Inventory Costs of goods sold (538)  Derivatives not designated $ (4,439)  as hedging instruments -  Commodity futures Costs of goods sold $ (8,450) Note 7. Derivative Financial Instruments (Continued)      Amount of  gain (loss) Amount of  recognized in gain recognized in  income on Location of gain income on related  Location of gain derivatives recognized hedged items for  (loss) recognized for the year ended Hedged items in in income on the year ended  in income on December 31, fair value hedge related December 31,  derivatives 2015 relationships hedged items 2015  Derivatives in fair value  hedging relationships -  Commodity futures Costs of goods sold $ (4,254) Firm commitments Costs of goods sold $ 2,084  Inventory Costs of goods sold 1,269  Derivatives not designated $ 3,353  as hedging instruments -  Commodity futures Costs of goods sold $ 16,261      Amount of  Amount of gain (loss)  gain recognized in recognized in  income on Location of gain income on related  Location of gain derivatives (loss) recognized hedged items for  recognized for the year ended Hedged items in in income on the year ended  in income on December 31, fair value hedge related December 31,  derivatives 2014 relationships hedged items 2014  Derivatives in fair value  hedging relationships -  Commodity futures Costs of goods sold $ 2,778 Firm commitments Costs of goods sold $ 1,488  Inventory Costs of goods sold (3,411)  Derivatives not designated $ (1,923)  as hedging instruments -  Commodity futures Costs of goods sold $ 14,988   Derivatives accounted for as fair value hedges had ineffectiveness resulting in losses of $191,000 and gains of $90,000 and $206,000 for the years ended December 31, 2016 , 2015 and 2014, respectively. Losses excluded from hedge effectiveness testing of $652,000 and $991,000 increased cost of goods sold, and gains excluded from hedge effectiveness testing of $649,000 reduced costs of goods sold for the years ended December 31, 2016 , 2015 and 2014 , respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Measurements
Fair Value Measurements	Note 8. Fair Value Measurements FASB accounting standards provide a comprehensive framework for measuring fair value and sets forth a definition of fair value and establishes a hierarchy prioritizing the inputs to valuation techniques, giving the highest priority to quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable value inputs. Levels within the hierarchy are defined as follows:  · Level 1—Unadjusted quoted prices for identical assets and liabilities in active markets; · Level 2—Quoted prices for similar assets and liabilities in active markets (other than those included in Level 1) which are observable for the asset or liability, either directly or indirectly; and · Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.  The following table sets forth financial assets and liabilities measured at fair value on a recurring basis in the consolidated balance sheet and the respective levels to which the fair value measurements are classified within the fair value hierarchy as of December 31 (in thousands):      Quoted Prices Significant  in Active Other Significant  Markets for Observable Unobservable  Identical Assets Inputs Inputs  Total (Level 1) (Level 2) (Level 3)  December 31, 2016  Commodity futures – financial assets $ 4,060 $ - $ 4,060 $ -  Commodity futures – financial liabilities 2,083 - 2,083 -   December 31, 2015  Commodity futures – financial assets $ 1,765 $ - $ 1,765 $ -  Commodity futures – financial liabilities 3,925 - 3,925 -  The carrying amounts of financial instruments including cash and equivalents approximate fair value. The fair values of commodity futures contracts are estimated by the use of quoted market prices, estimates obtained from brokers, and other appropriate valuation techniques based on references available. The fair value of long-term debt, including current maturities, as determined by quoted market prices (Level 2), was approximately $2.5 billion and $2.7 (with a corresponding carrying amount in the consolidated balance sheet of $2.4 billion and $2.6 billion at December 31, 2016 , and 2015 , respectively ).  Refer to Note 1 for discussions regarding certain long-lived assets, which as a result of held-for-sale designation, were measured at fair value at December 31, 2016.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies
Commitments and Contingencies	Note 9. Commitments and Contingencies The company has entered into certain commitments with suppliers which are of a customary nature. Commitments have been entered into relating to future expected requirements for such commodities as electricity, natural gas and its transportation services, fuel, air products, and zinc. Certain commitments contain provisions which require that the company “take or pay” for specified quantities at fixed prices without regard to actual usage for periods of up to 4 years for physical commodity requirements and commodity transportation requirements, and for up to 12 years for air products. The company utilized such “take or pay” requirements during the past three years under these contracts, except for certain air products at our Minnesota ironmaking operations which were idled in May 2015. The company believes that production requirements will be such that consumption of the products or services purchased under these commitments will occur in the normal production process, other than certain air products related to Minnesota ironmaking operations during the idle period. The company’s commitments for these agreements with “take or pay” or other similar commitment provisions for the years ending December 31 as follows (in thousands):    2017 $ 122,965  2018 39,684  2019 38,426  2020 37,919  2021 23,515  Thereafter 97,301  $ 359,810  At December 31, 2016 , the company has outstanding commitments of $53.0 million related to ongoing construction of property, plant, and equipment related primarily to steel operations. The company’s commitments for operating leases are discussed in Note 12. In connection with the Standard Iron Works v Arcelor Mittal, et al class action antitrust litigation originally involving two class action complaints (a so-called “direct purchaser” case and a so-called “indirect purchaser” case), alleging an antitrust conspiracy to limit steel output in the United States and pending since 2008 in federal court in Chicago, settlement agreements have been entered into in both cases, one of which (the direct case) has received final court approval, the other of which (the indirect case) is awaiting final court approval. The October 2016 direct purchaser settlement involved a November 2016 payment of $4.6 million with only two relatively small class members opting out of the settlement. The indirect purchaser case has been settled for $990,000 , which has been paid into escrow in 2017, and is pending final court approval. Until final settlement approval, the settlement remains preliminary. The company is also involved in various routine litigation matters, including administrative proceedings, regulatory proceedings, governmental investigations, environmental matters, and commercial and construction contract disputes, none of which are expected to have a material impact on the company’s financial condition, results of operations, or liquidity.

Transactions with Affiliated Co

Transactions with Affiliated Companies	12 Months Ended
	Dec. 31, 2016
Transactions with Affiliated Companies [Abstract]
Transactions with Affiliated Companies	Note 10. Transactions with Affiliated Companies The company sells flat roll products to and occasionally purchases ferrous materials from Heidtman. The president and chief executive officer of Heidtman is a member of the company’s board of directors and a stockholder of the company. Transactions with Heidtman for the years ended December 31, are as follows (in thousands):    2016 2015 2014  Sales $ 142,624 $ 162,742 $ 234,608  Percentage of consolidated net sales 2% 2% 3%  Accounts receivable 20,737 30,627 35,447  Purchases 9,017 11,429 7,639  Accounts payable 494 431 236  The company also purchases and sells recycled and scrap metal with other smaller affiliated companies. These transactions are as follows (in thousands):    2016 2015 2014  Sales $ 27,305 $ 24,436 $ 39,777  Accounts receivable 5,483 3,645 7,543  Purchases 165,091 178,102 279,177  Accounts payable 12,576 6,199 21,029  

Retirement Plans

Retirement Plans	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Retirement Plans	Note 11. Retirement Plans  The company sponsors several 401(k) retirement savings and profit sharing plans (Plans) for eligible employees, which are considered “qualified plans” for federal income tax purposes. The company’s total expense for the Plans was $64.7 million, $21.0 million, and $39.4 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. The company’s profit sharing component is 8% of consolidated pretax income excluding noncontrolling interests and other items. The resulting company profit sharing component was $59.3 million, $17.7 million, and $36.3 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively; of which $47.5 million, $14.1 million, and $29.0 million, respectively, was directed by the company’s board of directors to be contributed to the Plans, with the remaining amounts each year paid directly in cash to the Plans’ participants.

Leases

Leases	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Leases	Note 12. Leases The company has operating leases relating principally to transportation and other equipment and real estate. Certain leases include escalation clauses and/or purchase options. The company paid $15.1 million for operating leases for the years ended December 31, 2016 and 2015 , and $16.0 million for the year ended December 31, 2014 , respectively. At December 31, 2016 , future minimum payments for all non-cancelable operating leases with an initial or remaining term of one year or more are as follows (in thousands):     2017 $ 15,499  2018 12,620  2019 10,079  2020 7,564  2021 4,341  Thereafter 9,371  $ 59,474 

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2016
Segment Information
Segment Information	Note 13. Segment Information  The company’s operations are primarily organized and managed by reportable operating segments, which are steel operations, metals recycling operations, and steel fabrication operations. The segment operations are more fully described in Note 1 to the financial statements. Operating segment performance and resource allocations are primarily based on operating results before income taxes. The accounting policies of the reportable segments are consistent with those described in Note 1 to the financial statements. Intra ‑segment sales and any related profits are eliminated in consolidation. Amounts included in the category “Other” are from subsidiary operations that are below the quantitative thresholds required for reportable segments and primarily consist of our Minnesota ironmaking operations and several small joint ventures. In addition, “Other” also includes certain unallocated corporate accounts, such as the company’s senior secured credit facility, senior notes, certain other investments and certain profit sharing expenses. The company’s segment results are as follows (in thousands):     Metals Steel  For The Year Ended Steel Recycling Fabrication  December 31, 2016 Operations Operations Operations Other Eliminations Consolidated   Net Sales  External $ 5,399,275 $ 1,007,781 $ 700,852 $ 271,828 $ - $ 7,379,736  External Non-United States 235,436 161,560 189 188 - 397,373  Other segments 236,213 1,002,536 2,481 4,896 (1,246,126) -  5,870,924 2,171,877 703,522 276,912 (1,246,126) 7,777,109  Operating income (loss) 926,954 20,423 (5) 90,955 (301,116) (1) (9,250) (2) 727,966  Income (loss) before income taxes 836,818 8,378 (5) 82,776 (354,589) (9,250) 564,133  Depreciation and amortization 213,227 56,483 10,952 15,652 (205) 296,109  Capital expenditures 160,767 29,443 3,123 4,827 - 198,160   As of December 31, 2016   Assets $ 4,126,448 $ 1,038,946 $ 340,902 $ 1,054,448 (3) $ (137,012) (4) $ 6,423,732       Footnotes related to the year ended December 31, 2016, segment results (in millions):   (1) Corporate SG&A $ (48.9) (2) Gross profit decrease from intra-company sales $ (11.1)  Company-wide equity-based compensation (30.4) Non-cash asset impairment charges 1.8  Profit sharing (66.4) $ (9.3)  Minnesota ironmaking operations (15.8)  Minnesota ironmaking operations non-cash  asset impairment charges ($127.3 net  of eliminating amounts) (129.1)  Other, net (10.5)  $ (301.1)   (3) Cash and equivalents $ 775.7 (4) Elimination of intercompany receivables $ (112.3)  Accounts receivable 2.0 Elimination of intra-company debt (12.1)  Inventories 35.4 Other (12.6)  Income tax receivable 25.3 $ (137.0)  Property, plant and equipment, net 168.5  Intra-company debt 12.1  Other 35.4  $ 1,054.4   (5) Includes $5.5 million of non-cash goodwill  impairment charges.   Note 13. Segment Information (Continued)     Metals Steel  For The Year Ended Steel Recycling Fabrication  December 31, 2015 Operations Operations Operations Other Eliminations Consolidated   Net Sales  External $ 4,935,549 $ 1,249,061 $ 671,323 $ 283,965 $ - $ 7,139,898  External Non-United States 267,963 183,942 2,051 557 - 454,513  Other segments 218,963 904,713 25 30,325 (1,154,026) -  5,422,475 2,337,716 673,399 314,847 (1,154,026) 7,594,411  Operating income (loss) 403,216 (448,137) (5) 115,947 (148,784) (1) 4,974 (2) (72,784)  Income (loss) before income taxes 312,402 (465,426) (5) 108,795 (202,862) 4,974 (242,117)  Depreciation and amortization 205,827 65,640 9,587 13,746 (205) 294,595  Capital expenditures 71,752 21,874 3,395 17,480 - 114,501   As of December 31, 2015   Assets $ 3,827,108 $ 1,067,672 $ 341,276 $ 1,050,506 (3) $ (84,480) (4) $ 6,202,082      Footnotes related to the year ended December 31, 2015, segment results (in millions):   (1) Corporate SG&A $ (37.8) (2) Gross profit increase from intra-company sales $ 5.0  Company-wide equity-based compensation (27.1)  Profit sharing (17.7)  Minnesota ironmaking operations (55.7)  Other, net (10.5)  $ (148.8)   (3) Cash and equivalents $ 641.9 (4) Elimination of intra-company receivables $ (74.9)  Accounts receivable 18.8 Elimination of intra-company debt (6.2)  Inventories 35.1 Other (3.4)  Property, plant and equipment, net 306.0 $ (84.5)  Intra-company debt 6.2  Other 42.5  $ 1,050.5   (5) Includes $428.5 million of pretax non-cash asset  impairment charges.  Note 13. Segment Information (Continued)    Metals Steel  For The Year Ended Steel Recycling Fabrication  December 31, 2014 Operations Operations Operations Other Eliminations Consolidated   Net Sales  External $ 5,300,762 $ 1,985,927 $ 631,750 $ 354,519 $ - $ 8,272,958  External Non-United States 240,981 240,900 - 1,113 - 482,994  Other segments 279,835 1,312,379 58 112,873 (1,705,145) -  5,821,578 3,539,206 631,808 468,505 (1,705,145) 8,755,952  Operating income (loss) 683,609 26,014 51,894 (445,549) (1) 4,352 (2) 320,320  Income (loss) before income taxes 614,653 5,670 45,376 (505,248) (3) 4,352 164,803  Depreciation and amortization 149,064 75,242 9,712 29,512 (205) 263,325  Capital expenditures 62,807 22,223 3,027 23,728 - 111,785      Footnotes related to the year ended December 31, 2014, segment results (in millions):   (1) Corporate SG&A $ (43.2) (2) Gross profit decrease from intra-company sales $ 4.4  Company-wide equity-based compensation (22.8)  Profit sharing (36.8)  Minnesota ironmaking operations (69.8)  Minnesota ironmaking operations non-cash  asset impairment charges (260.0)  Other, net (12.9)  $ (445.5)   (3) Includes $25.2 million of acquisition and  bridge financing costs associated with the  acquisition of Columbus.  

Condensed Consolidating Informa

Condensed Consolidating Information	12 Months Ended
	Dec. 31, 2016
Condensed Consolidating Information
Condensed Consolidating Information	Note 14. Condensed Consolidating Information  Certain 100% owned subsidiaries of SDI have fully and unconditionally guaranteed all of the indebtedness relating to the issuance of the company’s senior unsecured notes due 2021, 2022, 2023, 2024 and 2026. Following are the company’s condensed consolidating financial statements, including the guarantors, which present the financial position, results of operations, and cash flows of (i) SDI (in each case, reflecting investments in its consolidated subsidiaries under the equity method of accounting), (ii) the guarantor subsidiaries of SDI, (iii) the non-guarantor subsidiaries of SDI, and (iv) the eliminations necessary to arrive at the information on a consolidated basis. The following statements should be read in conjunction with the accompanying consolidated financial statements, and notes thereto.                      Note 14. Condensed Consolidating Information (Continued)     Condensed Consolidating Balance Sheets (in thousands)  Combined Consolidating Total  As of December 31, 2016 Parent Guarantors Non-Guarantors Adjustments Consolidated  Cash and equivalents $ 766,685 $ 54,677 $ 20,121 $ - $ 841,483  Accounts receivable, net 229,148 1,257,245 23,689 (780,298) 729,784  Inventories 587,319 639,148 58,696 (9,952) 1,275,211  Other current assets 45,049 36,062 4,447 (2,361) 83,197  Total current assets 1,628,201 1,987,132 106,953 (792,611) 2,929,675  Property, plant and equipment, net 899,370 1,679,751 208,094 - 2,787,215  Intangible assets, net - 251,919 32,058 - 283,977  Goodwill - 385,527 7,824 - 393,351  Other assets, including investments in subs 2,769,884 7,335 5,832 (2,753,537) 29,514  Total assets $ 5,297,455 $ 4,311,664 $ 360,761 $ (3,546,148) $ 6,423,732   Accounts payable $ 141,089 $ 265,764 $ 89,659 $ (101,316) $ 395,196  Accrued expenses 198,085 220,917 8,793 (113,808) 313,987  Current maturities of long-term debt 674 700 29,347 (27,089) 3,632  Total current liabilities 339,848 487,381 127,799 (242,213) 712,815  Long-term debt 2,324,298 - 168,566 (139,670) 2,353,194  Other liabilities (293,711) 1,219,444 42,482 (499,191) 469,024  Total liabilities 2,370,435 1,706,825 338,847 (881,074) 3,535,033   Redeemable noncontrolling interests - - 111,240 - 111,240   Common stock 641 1,727,859 14,908 (1,742,767) 641  Treasury stock (416,829) - - - (416,829)  Additional paid-in capital 1,132,749 128,076 779,678 (907,754) 1,132,749  Retained earnings (deficit) 2,210,459 748,904 (734,351) (14,553) 2,210,459  Total Steel Dynamics, Inc. equity 2,927,020 2,604,839 60,235 (2,665,074) 2,927,020  Noncontrolling interests - - (149,561) - (149,561)  Total equity 2,927,020 2,604,839 (89,326) (2,665,074) 2,777,459  Total liabilities and equity $ 5,297,455 $ 4,311,664 $ 360,761 $ (3,546,148) $ 6,423,732  Note 14. Condensed Consolidating Information (Continued)      Combined Consolidating Total  As of December 31, 2015 Parent Guarantors Non-Guarantors Adjustments Consolidated  Cash and equivalents $ 636,877 $ 81,976 $ 8,179 $ - $ 727,032  Accounts receivable, net 200,094 1,056,285 29,775 (672,549) 613,605  Inventories 539,963 573,924 35,004 499 1,149,390  Other current assets 21,654 25,415 1,676 (831) 47,914  Total current assets 1,398,588 1,737,600 74,634 (672,881) 2,537,941  Property, plant and equipment, net 958,212 1,703,932 291,077 (2,011) 2,951,210  Intangible assets, net - 278,960 - - 278,960  Goodwill - 397,470 - - 397,470  Other assets, including investments in subs 2,941,710 10,040 6,137 (2,921,386) 36,501  Total assets $ 5,298,510 $ 4,128,002 $ 371,848 $ (3,596,278) $ 6,202,082   Accounts payable $ 100,751 $ 183,344 $ 68,948 $ (69,688) $ 283,355  Accrued expenses 141,552 185,873 4,779 (96,949) 235,255  Current maturities of long-term debt 13,122 700 24,975 (22,117) 16,680  Total current liabilities 255,425 369,917 98,702 (188,754) 535,290  Long-term debt 2,546,606 361 177,897 (146,888) 2,577,976  Other liabilities (183,248) 1,342,541 63,020 (804,948) 417,365  Total liabilities 2,618,783 1,712,819 339,619 (1,140,590) 3,530,631   Redeemable noncontrolling interests - - 126,340 - 126,340   Common stock 638 1,727,859 18,120 (1,745,979) 638  Treasury stock (396,455) - - - (396,455)  Additional paid-in capital 1,110,253 117,737 646,787 (764,524) 1,110,253  Retained earnings (deficit) 1,965,291 569,587 (624,402) 54,815 1,965,291  Total Steel Dynamics, Inc. equity 2,679,727 2,415,183 40,505 (2,455,688) 2,679,727  Noncontrolling interests - - (134,616) - (134,616)  Total equity 2,679,727 2,415,183 (94,111) (2,455,688) 2,545,111  Total liabilities and equity $ 5,298,510 $ 4,128,002 $ 371,848 $ (3,596,278) $ 6,202,082 Note 14. Condensed Consolidating Information (Continued)      Condensed Consolidating Statements of Operations (in thousands)   Combined Consolidating Total  For the year ended December 31, 2016 Parent Guarantors Non-Guarantors Adjustments Consolidated  Net sales $ 3,037,801 $ 8,356,727 $ 388,071 $ (4,005,490) $ 7,777,109  Costs of goods sold 2,428,863 7,522,791 390,313 (3,899,722) 6,442,245  Gross profit (loss) 608,938 833,936 (2,242) (105,768) 1,334,864  Selling, general and administrative 196,442 281,071 16,103 (19,557) 474,059  Asset impairment charges 12,700 5,500 116,445 (1,806) 132,839  Operating income (loss) 399,796 547,365 (134,790) (84,405) 727,966  Interest expense, net of capitalized interest 71,182 72,420 10,874 (8,439) 146,037  Other (income) expense, net 14,200 (5,363) 520 8,439 17,796  Income (loss) before income taxes and  equity in net income of subsidiaries 314,414 480,308 (146,184) (84,405) 564,133  Income taxes (benefit) 69,454 180,990 (15,825) (30,492) 204,127  244,960 299,318 (130,359) (53,913) 360,006  Equity in net income of subsidiaries 137,155 - - (137,155) -  Net loss attributable to noncontrolling interests - - 22,109 - 22,109  Net income (loss) attributable to Steel Dynamics, Inc. $ 382,115 $ 299,318 $ (108,250) $ (191,068) $ 382,115      Combined Consolidating Total  For the year ended December 31, 2015 Parent Guarantors Non-Guarantors Adjustments Consolidated  Net sales $ 2,908,904 $ 8,132,043 $ 361,944 $ (3,808,480) $ 7,594,411  Costs of goods sold 2,515,621 7,646,411 420,281 (3,719,620) 6,862,693  Gross profit (loss) 393,283 485,632 (58,337) (88,860) 731,718  Selling, general and administrative 128,929 254,106 11,893 (18,926) 376,002  Asset impairment charges - 428,500 - - 428,500  Operating income (loss) 264,354 (196,974) (70,230) (69,934) (72,784)  Interest expense, net of capitalized interest 75,457 76,009 6,969 (4,485) 153,950  Other (income) expense, net 13,970 332 (3,404) 4,485 15,383  Income (loss) before income taxes and  equity in net loss of subsidiaries 174,927 (273,315) (73,795) (69,934) (242,117)  Income taxes (benefit) (124,626) 61,571 (4,627) (29,265) (96,947)  299,553 (334,886) (69,168) (40,669) (145,170)  Equity in net loss of subsidiaries (429,864) - - 429,864 -  Net loss attributable to noncontrolling interests - - 14,859 - 14,859  Net income (loss) attributable to Steel Dynamics, Inc. $ (130,311) $ (334,886) $ (54,309) $ 389,195 $ (130,311)   Note 14. Condensed Consolidating Information (Continued)     Combined Consolidating Total  For the year ended December 31, 2014 Parent Guarantors Non-Guarantors Adjustments Consolidated  Net sales $ 3,904,488 $ 9,761,236 $ 527,584 $ (5,437,356) $ 8,755,952  Costs of goods sold 3,305,269 9,212,977 598,428 (5,326,933) 7,789,741  Gross profit (loss) 599,219 548,259 (70,844) (110,423) 966,211  Selling, general and administrative 149,374 241,163 13,503 (18,149) 385,891  Asset impairment charges - - 260,000 - 260,000  Operating income (loss) 449,845 307,096 (344,347) (92,274) 320,320  Interest expense, net of capitalized interest 78,442 56,006 7,745 (4,930) 137,263  Other (income) expense, net 18,976 (23) (5,629) 4,930 18,254  Income (loss) before income taxes and  equity in net loss of subsidiaries 352,427 251,113 (346,463) (92,274) 164,803  Income taxes (benefit) 14,064 96,315 (1,095) (36,131) 73,153  338,363 154,798 (345,368) (56,143) 91,650  Equity in net loss of subsidiaries (181,339) - - 181,339 -  Net loss attributable to noncontrolling interests - - 65,374 - 65,374  Net income (loss) attributable to Steel Dynamics, Inc. $ 157,024 $ 154,798 $ (279,994) $ 125,196 $ 157,024      Condensed Consolidating Statements of Cash Flows (in thousands)   Combined Consolidating Total  For the year ended December 31, 2016 Parent Guarantors Non-Guarantors Adjustments Consolidated   Net cash provided by operating activities $ 326,216 $ 517,699 $ 6,057 $ 2,797 $ 852,769  Net cash used in investing activities (161,043) (140,027) (9,578) (2,245) (312,893)  Net cash provided by (used in) financing activities (35,365) (404,971) 15,463 (552) (425,425)  Increase (decrease) in cash and equivalents 129,808 (27,299) 11,942 - 114,451  Cash and equivalents at beginning of period 636,877 81,976 8,179 - 727,032  Cash and equivalents at end of period $ 766,685 $ 54,677 $ 20,121 $ - $ 841,483       Combined Consolidating Total  For the year ended December 31, 2015 Parent Guarantors Non-Guarantors Adjustments Consolidated   Net cash provided by operating activities $ 436,012 $ 594,437 $ 19,388 $ 3,788 $ 1,053,625  Net cash used in investing activities (64,457) (82,751) (15,703) 20,284 (142,627)  Net cash provided by (used in) financing activities 9 (511,400) (9,866) (24,072) (545,329)  Increase (decrease) in cash and equivalents 371,564 286 (6,181) - 365,669  Cash and equivalents at beginning of period 265,313 81,690 14,360 - 361,363  Cash and equivalents at end of period $ 636,877 $ 81,976 $ 8,179 $ - $ 727,032  Note 14. Condensed Consolidating Information (Continued)     Combined Consolidating Total  For the year ended December 31, 2014 Parent Guarantors Non-Guarantors Adjustments Consolidated   Net cash provided by (used in) operating activities $ 410,856 $ 279,080 $ (38,666) $ (23,046) $ 628,224  Net cash used in investing activities (1,690,363) (8,883) (23,206) (24,815) (1,747,267)  Net cash provided by (used in) financing activities 1,223,954 (249,655) 63,090 47,861 1,085,250  Increase (decrease) in cash and equivalents (55,553) 20,542 1,218 - (33,793)  Cash and equivalents at beginning of period 320,866 61,148 13,142 - 395,156  Cash and equivalents at end of period $ 265,313 $ 81,690 $ 14,360 $ - $ 361,363 

Quarterly Financial Information

Quarterly Financial Information	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information
Quarterly Financial Information	Note 15. Quarterly Financial Information (unaudited, in thousands, except per share data)    1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter  2016:  Net Sales $ 1,741,301 $ 2,023,902 $ 2,101,310 $ 1,910,596  Gross profit 236,036 380,383 408,503 309,942  Operating income (loss) 131,965 256,122 283,855 56,024  Net income (loss) 61,318 140,443 154,413 3,832  Net income (loss) attributable to Steel Dynamics, Inc. 62,737 141,969 157,397 20,012  Earnings (loss) per share:  Basic 0.26 0.58 0.65 0.08  Diluted 0.26 0.58 0.64 0.08   2015:  Net Sales $ 2,047,435 $ 2,005,007 $ 1,950,923 $ 1,591,046  Gross profit 187,042 171,743 228,726 144,207  Operating income (loss) 99,771 77,559 131,029 (381,143)  Net income (loss) 26,954 25,325 58,867 (256,316)  Net income (loss) attributable to Steel Dynamics, Inc. 30,761 31,550 60,617 (253,239)  Earnings (loss) per share:  Basic 0.13 0.13 0.25 (1.04)  Diluted 0.13 0.13 0.25 (1.04)   The fourth quarter of 2016 reflects non-cash asset impairment charges associated with the company’s Minnesota ironmaking operations and certain OmniSource goodwill, which reduced operating and pretax income by $132.8 million, net income by $89.5 million and net income attributable to Steel Dynamics, Inc. by $76.4 million. The fourth quarter of 2016 also reflects non-operating expenses of $16.5 million associated with call premiums and the write off of deferred financing costs related to the refinancing of $400.0 million of outstanding 6.125% Senior Notes due 2019 with $400.0 million 5.000% Senior Notes due 2026, and repayment of the $228.1 million outstanding senior secured term debt.  The first quarter of 2015 reflects other non-operating expenses of $16.7 million associated with call premiums and the write off of deferred financing costs related to the call and repayment of all $350.0 million of outstanding 7 5 / 8 % Senior Notes due 2020.  The second quarter of 2015 reflects inventory lower of cost or market charges of $21.0 million (inclusive of noncontrolling interests of $3.6 million), in cost of goods sold, related to the May 2015 decision to idle the Minnesota ironmaking operations and to monetize existing raw material inventory.  The fourth quarter of 2015 reflects non-cash impairment charges related to goodwill, indefinite-lived intangibles and certain other assets associated with the company's metal recycling operations, which reduced operating income by $428.5 million, and net income and net income attributable to Steel Dynamics, Inc. by $268.7 million.  Earnings per share are computed independently for each of the quarters presented. Therefore, the sum of the quarterly earnings per share may not equal the total for the year.

Description of the Business a22

Description of the Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Description of the Business and Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of SDI, together with its wholly and majority-owned or controlled subsidiaries, after elimination of significant intercompany accounts and transactions. Noncontrolling interests represent the noncontrolling owner’s proportionate share in the equity, income, or losses of the company’s majority-owned or controlled consolidated subsidiaries.
Use of Estimates	Use of Estimates These financial statements are prepared in conformity with accounting principles generally accepted in the United States, and accordingly, include amounts that require management to make estimates and assumptions that affect the amounts reported in the financial statements and in the notes thereto. Significant items subject to such estimates and assumptions include the carrying value of property, plant and equipment, intangible assets, and goodwill; valuation allowances for trade receivables, inventories and deferred income tax assets; unrecognized tax benefits; potential environmental liabilities; and litigation claims and settlements. Actual results may differ from these estimates and assumptions.
Revenue Recognition and Allowances for Doubtful Accounts	Revenue Recognition and Allowances for Doubtful Accounts  Except for the steel fabrication operations, the company recognizes revenues from sales and the allowance for estimated returns and claims from these sales at the time the title of the product transfers, upon shipment. Provision is made for estimated product returns and customer claims based on historical experience. If the historical data used in the estimates does not reflect future returns and claims trends, additional provision may be necessary. The company’s steel fabrication operations recognizes revenues from construction contracts utilizing a percentage of completion methodology based on steel tons used on completed units to date as a percentage of estimated total steel tons required for each contract. The allowance for doubtful accounts for all operating segments is based on the company’s best estimate of probable credit losses, along with historical experience.
Cash and Equivalents	Cash and Equivalents Cash and equivalents include all highly liquid investments with a maturity of three months or less at the date of acquisition. Restricted cash is primarily funds held in escrow as required by various insurance and government organizations.
Inventories	Inventories Inventories are stated at lower of cost or market. Cost is determined using a weighted average cost method for raw materials and supplies, and on a first-in, first-out, basis for other inventory . Inventory consisted of the following at December 31 (in thousands):     2016 2015  Raw materials $ 515,924 $ 419,608  Supplies 383,134 396,349  Work in progress 103,606 90,486  Finished goods 272,547 242,947  Total inventories $ 1,275,211 $ 1,149,390 
Property, Plant and Equipment	 Property, Plant and Equipment Property, plant and equipment are stated at cost, which includes capitalized interest on construction in progress amounts, and is reduced by proceeds received from certain state and local government grants and other capital cost reimbursements. The company assigns each fixed asset a useful life ranging from 3 to 20 years for plant, machinery and equipment and 10 to 40 years for buildings and improvements. Repairs and maintenance are expensed as incurred. Depreciation is provided utilizing the straight-line depreciation methodology, or the units-of-production depreciation methodology for certain production related assets, based on units produced, subject to a minimum and maximum level. Depreciation expense was $260.6 million, $263.2 million, and $229.4 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Refer to Impairment of Long-Lived Tangible and Definite-Lived Other Tangible Assets below in Note 1 for discussions regarding the impairments of various property, plant and equipment in 2016, 2015 and 2014.     Note 1. Description of the Business and Summary of Significant Accounting Policies (Continued) The company’s property, plant and equipment consisted of the following at December 31 (in thousands):      2016 2015  Land and improvements $ 311,005 $ 328,739  Buildings and improvements 709,809 706,708  Plant, machinery and equipment 3,975,560 3,966,181  Construction in progress 70,615 76,074  5,066,989 5,077,702  Less accumulated depreciation 2,279,774 2,126,492  Property, plant and equipment, net $ 2,787,215 $ 2,951,210 
Intangible Assets	Intangible Assets The company’s intangible assets consisted of the following at December 31 (in thousands):     Weighted  Average  Useful Amortization  2016 2015 Life Period  Customer and scrap generator relationships $ 446,688 $ 420,400 10 to 25 years 19 years  Trade names 130,550 85,000 15 to 25 years 18 years  Trade name - 39,500 Indefinite  Other 1,415 - 3 years 3 years  578,653 544,900 19 years  Less accumulated amortization 294,676 265,940  $ 283,977 $ 278,960  Refer to “Impairment of Goodwill and Indefinite-Lived Intangible Assets” below in Note 1 for discussion regarding the 2015 impairment of the OmniSource trade name. The company utilizes an accelerated amortization methodology for customer and scrap generator relationships in order to follow the pattern in which the economic benefits of the amounts are anticipated to be consumed. Trade names are amortized using a straight-line methodology. The company determined that the useful lives were no longer indefinite and began to amortize The Techs $81.8 million trade name in January 2016, and the OmniSource $39.5 million trade name in November 2016. Amortization of intangible assets was $28.8 million, $24.2 million, and $26.5 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively . Estimated amortization expense, related to amortizable intangibles, for the years ending December 31 is as follows (in thousands):     2017 $ 29,068  2018 26,434  2019 24,330  2020 22,204  2021 20,415  Thereafter 161,526  Total $ 283,977 
Impairment of Long-Lived Tangible and Definite-Lived Intangible Assets	 Impairment of Long-Lived Tangible and Definite ‑Lived Intangible Assets The company reviews long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of such assets may not be fully recoverable. Impairment losses are recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amounts. The impairment loss is measured by comparing the fair value of the asset to its carrying amount. The company considers various factors and determine whether an impairment test is necessary, including by way of examples, a significant and prolonged deterioration in operating results and/or projected cash flows, significant changes in the extent or manner in which an asset is used, technological advances with respect to assets which would potentially render them obsolete, our strategy and capital planning, and the economic climate in markets to be served. Note 1. Description of the Business and Summary of Significant Accounting Policies (Continued) A long-lived asset is classified as held for sale upon meeting specified criteria related to ability and intent to sell. An asset classified as held for sale is measured at the lower of its carrying amount or fair value less cost to sell. As of December 31, 2016 and 2015, the company reported $29.3 and $8.6 million, respectively, of assets held for sale within other current assets in our consolidated balance sheet. An impairment loss is recognized for any initial or subsequent write-down of the asset held for sale to its fair value less cost to sell. For assets determined to be classified as held for sale in the year ended December, 31, 2016, the asset carrying amounts approximated their fair value less cost to sell. The company recorded $10.3 million asset impairment charge in the consolidated statement of operations for assets determined to be classified as held for sale in the year ended December 31, 2015. The company determined fair value using Level 3 inputs as provided for under ASC 820, consisting of information provided by brokers and other external sources along with management’s own assumptions.  Significant events occurred during the fourth quarter of 2016, including the previously noted termination of all existing agreements with the Mining Resources noncontrolling investor, that represented impairment indicators related primarily to Mining Resources and Mesabi Mining fixed assets within our Minnesota ironmaking operations. These impairment indicators were substantively separate and different from the impairment indicators that existed within our Minnesota ironmaking operations in the fourth quarter of 2014, discussed below. Therefore, we undertook a fourth quarter 2016 assessment of the recoverability of the carrying amounts of primarily our Mining Resources and Mesabi Mining operation’s fixed assets. With the company’s outlook at the time of this 2016 assessment regarding future cash flows, the company concluded that the carrying amounts of the fixed assets were no longer fully recoverable, and they were in fact impaired. This 2016 assessment resulted in a non-cash asset impairment charge of $127.3 million, including amounts attributable to noncontrolling interests of $13.1 million, which reduced net income attributable to Steel Dynamics, Inc. by $72.9 million for the year ended December 31, 2016. During the fourth quarter of 2014, our Minnesota ironmaking operations reached a steady operating state, indicating a consistency in the operations’ production capability, processes and cost structure, including the ability to utilize certain lower-cost raw materials. Given our outlook at that time regarding future operating costs and product pricing and resulting future cash flows, we concluded that the carrying amounts of primarily our Mesabi Nugget fixed assets, within our Minnesota ironmaking operations, were no longer fully recoverable, and were in fact impaired. This 2014 assessment resulted in non-cash asset impairment charge of $260.0 million, including amounts attributable to noncontrolling interests of $46.5 million, which reduced net income attributable to Steel Dynamics, Inc. by $132.6 million for the year ended December 31, 2014. The carrying values of the impaired assets were adjusted to their estimated fair values at that time as determined primarily on the cost approach, as well as expected future discounted cash flows (an income approach), using Level 3 inputs as provided for under ASC 820.
Goodwill	Goodwill The company’s goodwill is allocated to the following reporting units at December 31 (in thousands):   2016 2015  Columbus Flat Roll Division – Steel Operations Segment $ 19,682 $ 19,682  The Techs – Steel Operations Segment 142,783 142,783  Vulcan Threaded Products – Steel Operations Segment 7,824 -  Roanoke Bar Division – Steel Operations Segment 29,041 29,041  Butler Flat Roll Division, Structural and Rail Division, and Engineered  Bar Division – Metals Recycling Operations Segment 95,000 95,000  OmniSource – Metals Recycling Operations Segment 97,096 109,039  New Millennium Building Systems – Steel Fabrication Operations Segment 1,925 1,925  $ 393,351 $ 397,470  In 2016, a $5.5 million OmniSource goodwill impairment charge was recorded in conjunction with OmniSource entering into a definitive sale agreement with a third-party pertaining to certain OmniSource long-lived assets (classified and reported as held for sale as of December 31, 2016), inventory and spare parts, as provided under ASC 350. OmniSource goodwill decreased an additional $6.4 million in 2016 in recognition of the 2016 tax benefit related to the normal amortization of the component of OmniSource tax-deductible goodwill in excess of book goodwill. In 2015, a $341.3 million OmniSource goodwill impairment charge was recorded pursuant to the company’s annual review for impairment of goodwill and indefinite-lived intangible assets, as discussed further under “Impairment of Goodwill and Indefinite-Lived Intangible Assets” below. Cumulative OmniSource goodwill impairment charges were $346.8 million at December 31, 2016, and $341.3 million at December 31, 2015.
Impairment of Goodwill and Indefinite-Lived Intangible Assets	Impairment of Goodwill and Indefinite ‑Lived Intangible Assets At least once annually (as of October 1) or when indicators of impairment exist, the company performs an impairment test for goodwill and other indefinite-lived intangible assets. Goodwill is allocated to various reporting units, which are generally one level below the company’s operating segments. The company utilizes a two-stepped approach to evaluate goodwill impairment. The first step of the test determines if there is potential goodwill impairment. In this step, the company compares the fair value of the reporting unit to its carrying amount (which includes goodwill). The fair value of the reporting unit is determined by using an estimate of future cash flows utilizing a risk-adjusted discount rate to calculate the net present value of future cash flows (income approach), and by using a market approach based upon an analysis of valuation metrics of comparable peer companies, Level 3 inputs as provided for under ASC 820. If the fair value exceeds the carrying value, there is no impairment. If the carrying amount exceeds the fair value, the company performs the second step of the test, which measures the amount of impairment loss to be recorded. In the second step, the company compares the carrying amount of the goodwill to the implied fair value of the goodwill based on the net fair value of the recognized and unrecognized assets and liabilities of the reporting unit to which it is allocated. If the implied fair value is less than the carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill is less than its carrying value. At least once annually (as of October 1) or when indicators of impairment exist, the company tests indefinite-lived intangible assets for impairment through the comparison of the fair value of the specific intangible asset with its carrying amount. The fair value of the intangible asset is determined by using an estimate of future cash flows attributable to the asset and a risk-adjusted discount rate to compute a net present value of future cash flows (income approach). If the fair value is less than the carrying value, an impairment loss is recorded in an amount equal to the excess in carrying value. During the company’s 2015 annual goodwill and indefinite-lived intangible asset impairment analysis, we determined that the fair value of OmniSource was less than its carrying value, and upon the completion of the second step of the impairment analysis, that the goodwill and trade name indefinite-lived intangible assets were impaired. The decrease in OmniSource fair value from our 2014 impairment analysis was due primarily to the reduction in expected future cash flows based on management’s view at the time of the 2015 analysis of the weak longer-term global scrap commodity outlook. This outlook became clearer in the fourth quarter of 2015 from the longevity of: 1) the prolonged strength of the United States dollar decreasing scrap export volume (resulting in excess domestic supply); 2) currency devaluation contributing to China and Russia supplying alternative scrap materials to Turkey, versus those coming from the United States; and 3) slower global growth decreasing demand for scrap. While the scrap commodity outlook deteriorated throughout much of 2015, there were indicators of improvement during the year such as the restoration of the ratio of iron ore to scrap costs to a more historically consistent relationship, as well as a mid-year scrap pricing increase, versus the monthly decreases experienced throughout much of the year, including large decreases in both the first and fourth quarters. Upon the fourth quarter decrease in selling prices and resulting metal spreads, we concluded that the impact of the factors noted above were longer-term, which resulted in our reassessment of our future long-term cash flows. The OmniSource goodwill and trade name indefinite-lived intangible assets were written down to their respective fair values at that time, resulting in non-cash asset impairment charges of $341.3 million and $68.5 million, respectively, that are reflected in asset impairment charges in the consolidated statement of operations for the year ended December 31, 2015, within the metals recycling operations. No impairment was identified during the company’s 2016 annual goodwill and indefinite-lived intangible asset impairment analysis.
Equity-Based Compensation	Equity ‑Based Compensation The company has several stock ‑based employee compensation plans which are more fully described in Note 6. Compensation expense for restricted stock units, deferred stock units, restricted stock, and performance awards is recorded over the vesting periods using the fair value as determined by the closing fair market value of the company’s common stock on the grant date, and with respect to performance awards, an estimate of probability of award achievement during the performance period. The company recognizes forfeitures as they occur. Compensation expense for these stock ‑based employee compensation plans was $30.4 million, $27.1 million, and $22.8 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively.
Income Taxes	Income Taxes The company accounts for income taxes and the related accounts under the liability method. Deferred tax liabilities and assets are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted rates expected to be in effect during the year in which the basis differences reverse.
Earnings Per Share	Earnings Per Share Basic earnings per share is based on the weighted average shares of common stock outstanding during the period. Diluted earnings per share assumes the weighted average dilutive effect of common share equivalents outstanding during the period applied to the company’s basic earnings per share. Common share equivalents represent potentially dilutive restricted stock units, deferred stock units, and stock options, and in 2014 dilutive shares related to the company’s convertible subordinated debt; and are excluded from the computation in periods in which they have an anti-dilutive effect. There were no anti-dilutive common stock equivalents as of and for the years ended December 31, 2016, and 2014 . There were 1.5 million anti-dilutive common stock equivalents as of and for the year ended December 31, 2015 . The following table presents a reconciliation of the numerators and the denominators of the company’s basic and diluted earnings per share computations for the years ended December 31 (in thousands, except per share data):      2016 2015  Net Income Shares Per Share Net Loss Shares Per Share  (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount  Basic earnings per share $ 382,115 243,576 $ 1.57 $ (130,311) 242,017 $ (0.54)  Dilutive restricted stock and deferred  stock units, and stock options - 1,722 - -  Diluted earnings per share $ 382,115 245,298 $ 1.56 $ (130,311) 242,017 $ (0.54)     2014  Net Income Shares Per Share  (Numerator) (Denominator) Amount  Basic earnings per share $ 157,024 232,547 $ 0.68  Dilutive restricted stock and deferred  stock units, and stock options - 1,828  5.125% convertible senior notes 4,327 7,703  Diluted earnings per share $ 161,351 242,078 $ 0.67 
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the company to significant concentrations of credit risk principally consist of temporary cash investments and accounts receivable. The company places its temporary cash investments with high credit quality financial institutions and companies, and limits the amount of credit exposure from any one entity. The company is exposed to credit risk in the event of nonpayment by customers. The company mitigates its exposure to credit risk, which it generally extends initially on an unsecured basis, by performing ongoing credit evaluations and taking further action if necessary, such as requiring letters of credit or other security interests to support the customer receivable. Management’s estimation of the allowance for doubtful accounts is based upon known credit risks, historical loss experience and current economic conditions affecting the company’s customers. Customer accounts receivable are charged off when all collection efforts have been exhausted and the amounts are deemed uncollectible. Heidtman Steel Products (Heidtman), a related party, accounted for 3% and 5% of the company’s net accounts receivable at December 31, 2016 , and 2015, respectively .
Derivative Financial Instruments	Derivative Financial Instruments The company recognizes all derivatives as either assets or liabilities in the consolidated balance sheets and measures those instruments at fair value. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. Changes in the fair value of derivatives that are designated as hedges, depending on the nature of the hedge, are recognized as either an offset against the change in fair value of the hedged balance sheet item in the case of fair value hedges or as other comprehensive income in the case of cash flow hedges, until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is immediately recognized in earnings. The company offsets fair value amounts recognized for derivative instruments executed with the same counterparty under master netting agreements.  Note 1. Description of the Business and Summary of Significant Accounting Policies (Continued) In the normal course of business, the company has derivative financial instruments in the form of forward contracts in various commodities, may have involvement with derivative financial instruments related to managing fluctuations in foreign exchange rates, and in the past has had derivative financial instruments related to managing fluctuations in interest rates. At the time of acquiring these financial instruments, the company designates and assigns these instruments as hedges of specific assets, liabilities or anticipated transactions. When hedged assets or liabilities are sold or extinguished, or the anticipated transaction being hedged is no longer expected to occur, the company recognizes the gain or loss on the designated hedged financial instrument. The company routinely enters into forward contracts in various commodities, primarily nonferrous metals (specifically aluminum and copper) in our metals recycling operations, to reduce exposure to commodity related price fluctuations. The company does not enter into these derivative financial instruments for speculative purposes.
Recently Issued Accounting Standards	Recently Adopted/Issued Accounting Standards  In March 2016, the FASB issued Improvement to Employee Share-based Payment Accounting (ASU 2016-09), which simplifies several aspects of accounting for share-based payment transactions, including recognizing excess tax benefits and deficiencies as income tax expense or benefit in the income statement and as operating activities within the statement of cash flows, and an option to recognize gross stock compensation expense with actual forfeitures recognized as incurred. This new guidance is effective for annual and interim periods beginning after December 15, 2016, but can be early adopted. The company early adopted the provisions of ASU 2016-09 effective December 31, 2016. As a result of adoption, an income tax benefit of $5.0 million has been recorded to reflect the excess tax benefit of share-based payments during 2016. Excess tax benefits in 2015 and 2014 recorded through equity (additional paid-in capital) were not changed, and thus tax expense as previously reported for 2015 and 2014 were not affected. Cash paid to tax authorities from shares withheld to satisfy the company’s statutory income tax withholding obligation of $13.4 million in 2016 are presented as financing activity in the 2016 statement of cash flows, and $8.8 million and $10.7 million in 2015 and 2014, respectively, were reclassified to financing activity from operating activity in the 2015 and 2014 statement of cash flows. In August 2016, the FASB issued Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15), to clarify how entities should classify certain cash receipts and cash payments on the statement of cash flows. The new guidance is effective for years beginning after December 15, 2018, but can be early adopted, and is generally applied on a retrospective basis. The company early adopted the provisions of ASU 2016-15 effective December 31, 2016. As a result of adoption, cash payments for debt extinguishment costs of $13.4 million in 2016 have been included in repayments of current and long-term debt financing activity in the statement of cash flows, and $13.4 million of cash payments for debt extinguishment costs in 2015 have been reclassified from operating activity to repayments of current and long-term debt financing activity in the statement of cash flows. In addition, $7.0 million was reclassified from operating activity to investing activity in the 2015 statement of cash flows. In May 2014, the FASB issued ASU 2014-09, which is codified in ASC 606, Revenue Recognition – Revenue from Contracts with Customers, which amends the guidance in former ASC 605, Revenue Recognition . FASB has since issued clarifying guidance in the form of ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Consideration (Reporting Revenue Gross versus Net) , ASU 2016-10, Revenue from Contract with Customers : Identifying Performance Obligations and Licensing , and ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients, collectively (ASC 606). The core principle of ASC 606 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASC 606 also requires additional disclosures to help users of financial statements better understand the nature, amount, timing, and potential uncertainty of revenue that is recognized. ASC 606 guidance is effective for annual and interim periods beginning after December 15, 2017, but can be early adopted for annual and interim periods ending after December 15, 2016, using a full retrospective or modified retrospective approach. The company is currently working through an adoption plan and has identified current revenue streams and initially analyzed those revenue streams pursuant to the new accounting requirements. The company intends to complete the adoption plan during the second half of 2017, including final determination of whether the accounting impact of ASC 606 significantly differs from the company’s current revenue accounting, evaluating and concluding on the timing and method of adoption and related disclosure, and determine whether implementation of the new standard may affect functions, processes and systems within the company. Based on our analysis within the adoption plan completed to date, the company preliminarily does not believe there will be significant change in the amount or timing of revenue recognized under the new standard, or significant changes required to the company’s functions, processes or systems. The company preliminarily intends to adopt ASU 2014-09 in the first quarter of 2018. These preliminary assessments may however change as we complete the adoption plan. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory (ASU 2015-11), which requires an entity to measure inventory at the lower of cost and net realizable value, rather than at the lower of cost or market. This new guidance is effective for annual and interim periods beginning after December 15, 2016, but can be early adopted. The company will adopt ASU 2015-11 as required in the first quarter of 2017 on a prospective basis, and thus does not believe adoption will have a significant impact on its financial condition, results of operations, or cash flow.

Description of the Business a23

Description of the Business and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Description of the Business and Significant Accounting Policies
Schedule of Inventories	. Inventory consisted of the following at December 31 (in thousands):     2016 2015  Raw materials $ 515,924 $ 419,608  Supplies 383,134 396,349  Work in progress 103,606 90,486  Finished goods 272,547 242,947  Total inventories $ 1,275,211 $ 1,149,390 
Schedule of Property, Plant and Equipment	   Note 1. Description of the Business and Summary of Significant Accounting Policies (Continued) The company’s property, plant and equipment consisted of the following at December 31 (in thousands):      2016 2015  Land and improvements $ 311,005 $ 328,739  Buildings and improvements 709,809 706,708  Plant, machinery and equipment 3,975,560 3,966,181  Construction in progress 70,615 76,074  5,066,989 5,077,702  Less accumulated depreciation 2,279,774 2,126,492  Property, plant and equipment, net $ 2,787,215 $ 2,951,210 
Schedule of Finite-Lived Intangible Assets	The company’s intangible assets consisted of the following at December 31 (in thousands):     Weighted  Average  Useful Amortization  2016 2015 Life Period  Customer and scrap generator relationships $ 446,688 $ 420,400 10 to 25 years 19 years  Trade names 130,550 85,000 15 to 25 years 18 years  Trade name - 39,500 Indefinite  Other 1,415 - 3 years 3 years  578,653 544,900 19 years  Less accumulated amortization 294,676 265,940  $ 283,977 $ 278,960 
Schedule of Intangible Assets, Future Amortization Expense	. Estimated amortization expense, related to amortizable intangibles, for the years ending December 31 is as follows (in thousands):     2017 $ 29,068  2018 26,434  2019 24,330  2020 22,204  2021 20,415  Thereafter 161,526  Total $ 283,977 
Schedule of Goodwill	The company’s goodwill is allocated to the following reporting units at December 31 (in thousands):   2016 2015  Columbus Flat Roll Division – Steel Operations Segment $ 19,682 $ 19,682  The Techs – Steel Operations Segment 142,783 142,783  Vulcan Threaded Products – Steel Operations Segment 7,824 -  Roanoke Bar Division – Steel Operations Segment 29,041 29,041  Butler Flat Roll Division, Structural and Rail Division, and Engineered  Bar Division – Metals Recycling Operations Segment 95,000 95,000  OmniSource – Metals Recycling Operations Segment 97,096 109,039  New Millennium Building Systems – Steel Fabrication Operations Segment 1,925 1,925  $ 393,351 $ 397,470 
Reconciliation of Basic and Diluted Earnings Per Share	The following table presents a reconciliation of the numerators and the denominators of the company’s basic and diluted earnings per share computations for the years ended December 31 (in thousands, except per share data):      2016 2015  Net Income Shares Per Share Net Loss Shares Per Share  (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount  Basic earnings per share $ 382,115 243,576 $ 1.57 $ (130,311) 242,017 $ (0.54)  Dilutive restricted stock and deferred  stock units, and stock options - 1,722 - -  Diluted earnings per share $ 382,115 245,298 $ 1.56 $ (130,311) 242,017 $ (0.54)     2014  Net Income Shares Per Share  (Numerator) (Denominator) Amount  Basic earnings per share $ 157,024 232,547 $ 0.68  Dilutive restricted stock and deferred  stock units, and stock options - 1,828  5.125% convertible senior notes 4,327 7,703  Diluted earnings per share $ 161,351 242,078 $ 0.67 

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2016
Acquisitions
Schedule of Assets Acquired and Liabilities Assumed	  Current assets, net of cash acquired $ 37,242  Property, plant & equipment 40,213  Intangible assets 32,930  Goodwill 7,824  Total assets acquired 118,209  Liabilities assumed 5,197  Net assets acquired $ 113,012 

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2016
Long-Term Debt
Schedule of Long-term Debt Instruments	The company’s borrowings consisted of the following at December 31 (in thousands):    2016 2015  5.125% senior notes due 2021 $ 700,000 $ 700,000  6 3 / 8 % senior notes due 2022 350,000 350,000  5 1 / 4 % senior notes due 2023 400,000 400,000  5.500% senior notes due 2024 500,000 500,000  5.000% senior notes due 2026 400,000 -  6 1 / 8 % senior notes due 2019 - 400,000  Senior term loan - 237,500  Other obligations 36,791 40,634  Total debt 2,386,791 2,628,134  Less debt issuance costs 29,965 33,478  Total amounts outstanding 2,356,826 2,594,656  Less current maturities 3,632 16,680  Long-term debt $ 2,353,194 $ 2,577,976 
Schedule of Debt	      Issue 2021 Notes 2022 Notes 2023 Notes 2024 Notes 2026 Notes  Outstanding Balance $700.0 million $350.0 million $400.0 million $500.0 million $400.0 million  Stated Interest Rate 5.125% 6 3 / 8 % 5 1 / 4 % 5.500% 5.000%  Semi-Annual Interest Payment Dates April 1 and February 15 and April 15 and April 1 and June 15 and  October 1 August 15 October 15 October 1 December 15  Equity Redemption Option Price & Date 105.125% N/A – date N/A – date 105.500% 105.000%  October 1, 2017 passed passed October 1, 2017 December 15, 2019   “Make-whole” Option Date October 1, 2017 August 15, 2017 April 15, 2018 October 1, 2019 December 15, 2021  First Call Price & Date 102.563% 103.188% 102.625% 102.750% 102.500%  October 1, 2017 August 15, 2017 April 15, 2018 October 1, 2019 December 15, 2021   Second Call Price & Date 101.281% 102.125% 101.750% 101.833% 101.667%  October 1, 2018 August 15, 2018 April 15, 2019 October 1, 2020 December 15, 2022   Third Call Price & Date 100.000% 101.063% 100.875% 100.917% 100.833%  October 1, 2019 August 15, 2019 April 15, 2020 October 1, 2021 December 15, 2023   Fourth Call Price & Date - 100.000% 100.000% 100.000% 100.000%  August 15, 2020 April 15, 2021 October 1, 2022 December 15, 2024   Maturity Date October 1, 2021 August 15, 2022 April 15, 2023 October 1, 2024 December 15, 2026  
Schedule of Maturities of Long-term Debt	Maturities of outstanding debt as of December 31, 2016 , are as follows (in thousands):    2017 $ 3,632  2018 3,102  2019 3,292  2020 3,491  2021 703,708  Thereafter 1,669,566  $ 2,386,791 

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Taxes
Schedule of Components of Income Tax Expense (Benefit)	   2016 2015 2014  Current income tax expense $ 153,176 $ 6,391 $ 94,312  Deferred income tax expense (benefit) 50,951 (103,338) (21,159)  Total income tax expense (benefit) $ 204,127 $ (96,947) $ 73,153  A reconciliation of the statutory rates to the actual effective tax rates for the years ended December 31 are as follows:
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the statutory rates to the actual effective tax rates for the years ended December 31 are as follows:    2016 2015 2014  Statutory federal tax rate 35.0 % 35.0 % 35.0 %  State income taxes, net of federal benefit 2.6 6.3 4.6  Domestic manufacturing deduction (2.5) - (4.8)  Noncontrolling interests 1.4 (2.1) 13.9  Federal research and development tax credits (0.2) - (1.5)  Other permanent differences (0.1) 0.8 (2.8)  Effective tax rate 36.2 % 40.0 % 44.4 % 
Schedule of Deferred Tax Assets and Liabilities	Significant components of the company’s deferred tax assets and liabilities at December 31 are as follows (in thousands):     2016 2015  Deferred tax assets  Accrued expenses and allowances $ 24,986 $ 21,205  Inventories 11,805 21,559  Net operating loss carryforwards 48,920 61,148  Intangible Assets 14,779 28,553  Other 8,491 8,684  108,981 141,149  Less: valuation allowance (33,427) (26,835)  Total net deferred tax assets 75,554 114,314   Deferred tax liabilities  Property, plant and equipment (519,977) (511,596)  Other (3,952) (3,488)  Total deferred tax liabilities (523,929) (515,084)  Net deferred tax liability $ (448,375) $ (400,770) 
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):     2016 2015 2014  Balance at January 1 $ 15,991 $ 17,338 $ 26,564  Increases related to current year tax positions 300 - 1,050  Increases related to prior year tax positions 5,452 81 653  Decreases related to prior year tax positions (535) (719) (2,298)  Settlements with taxing authorities (2,101) (70) (8,631)  Lapses in statute of limitations - (639) -  Balance at December 31 $ 19,107 $ 15,991 $ 17,338 

Equity-based Incentive Plans (T

Equity-based Incentive Plans (Tables)	12 Months Ended
	Dec. 31, 2016
Equity-based Incentive Plans [Abstract]
Schedule of Restricted Stock Units Award Activity	A summary of the company’s RSU activity and outstanding RSUs as of December 31, 2016 , are presented below (dollars in thousands except grant date fair value):     Weighted Aggregate  Number Average Grant Intrinsic Unrecognized  of RSUs Date Fair Value Value Compensation  Outstanding RSUs as of January 1, 2014 2,279,643 $14.97 $ 44,544 $ 22,197  Granted 1,121,416 $21.82  Vested (1,245,489) $13.20  Forfeited (144,344) $15.51  As of December 31, 2014 2,011,226 $19.85 $ 39,702 $ 25,171  Granted 1,589,309 $16.70  Vested (1,197,403) $18.13  Forfeited (124,428) $19.89  As of December 31, 2015 2,278,704 $18.55 $ 40,720 $ 27,615  Granted 852,063 $32.40  Vested (962,828) $22.76  Forfeited (139,922) $18.50  As of December 31, 2016 (nonvested) 2,028,017 $22.38 $ 72,157 $ 29,086 
Schedule of Stock Options Activity	     Weighted Weighted Average  Number Average Grant Date  of Options Exercise Price Fair Value  Outstan ding options as of January 1, 2014 3,257,170 $14.84 $5.58  Exercised (1,773,872) $15.01 $5.57  Forfeited (84,783) $14.98 $5.45  As of December 31, 2014 1,398,515 $14.62 $5.61  Exercised (753,159) $14.75 $5.75  Forfeited (49,411) $15.02 $5.87  As of December 31, 2015 595,945 $14.43 $5.41  Exercised (570,197) $14.41 $5.40  Forfeited (25,748) $14.96 $5.62  As of December 31, 2016 - N/A N/A 
Schedule Of LTIP Awards	     Maxi mum  Shares T hat Award  Could Be Issued Earned Award Issued/Issuable   2013 LTIP Award:  One-year performance period transition award 173,319 164,653 54,885 March 2014  54,884 March 2015  54,884 March 2016   Two-year performance period transition award 173,319 159,457 53,154 March 2015  66,252 March 2016  40,051 March 2017   Three-year performance period award 173,319 149,060 74,179 March 2016  37,441 March 2017  37,440 March 2018   2014 LTIP Award:  Three-year performance period award 204,740 200,644 66,882 March 2017  66,882 March 2018  66,880 March 2019  2015 LTIP Award:  Three-year performance period award 236,434 * *   2016 LTIP Award:  Three-year performance period award 324,469 * *  * Not yet earned as performance period not complete.

Derivative Financial Instrume28

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Financial Instruments
Schedule of Notional Amounts of Outstanding Derivative Positions	. The following summarizes the company’s futures contract commitments as of December 31, 2016 (MT represents metric tons):      Commodity Futures Long/Short Total  Aluminum Long 2,125 MT  Aluminum Short 2,925 MT  Copper Long 9,109 MT  Copper Short 13,745 MT  
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position	The following summarizes the location and amounts of the fair values reported on the company’s balance sheets and gains or losses related to derivatives included in the company’s consolidated statements of operations as of and for the years ended December 31 (in thousands):      Asset Derivatives Liability Derivatives  Balance sheet Fair Value Fair Value  location December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015  Derivative instruments designated  as fair value hedges -  Commodity futures Other current assets $ 2,910 $ 857 $ 1,300 $ 2,860   Derivative instruments not designated  as hedges -  Commodity futures Other current assets 1,150 908 783 1,065  Total derivative instruments $ 4,060 $ 1,765 $ 2,083 $ 3,925   The fair value of the above derivative instruments along with required margin deposit amounts with the same counterparty under master netting agreements totaled $3.2 million and $3.4 million at December 31, 2016 , and 2015 , respectively, and are reflected in other current assets in the consolidated balance sheets.     Amount of  gain (loss) Amount of  recognized in loss recognized in  income on income on related  Location of gain derivatives Location of hedged items for  (loss) recognized for the year ended Hedged items in loss recognized the year ended  in income on December 31, fair value hedge in income on December 31,  derivatives 2016 relationships related hedged items 2016  Derivatives in fair value  hedging relationships -  Commodity futures Costs of goods sold $ 3,596 Firm commitments Costs of goods sold $ (3,901)  Inventory Costs of goods sold (538)  Derivatives not designated $ (4,439)  as hedging instruments -  Commodity futures Costs of goods sold $ (8,450) Note 7. Derivative Financial Instruments (Continued)      Amount of  gain (loss) Amount of  recognized in gain recognized in  income on Location of gain income on related  Location of gain derivatives recognized hedged items for  (loss) recognized for the year ended Hedged items in in income on the year ended  in income on December 31, fair value hedge related December 31,  derivatives 2015 relationships hedged items 2015  Derivatives in fair value  hedging relationships -  Commodity futures Costs of goods sold $ (4,254) Firm commitments Costs of goods sold $ 2,084  Inventory Costs of goods sold 1,269  Derivatives not designated $ 3,353  as hedging instruments -  Commodity futures Costs of goods sold $ 16,261      Amount of  Amount of gain (loss)  gain recognized in recognized in  income on Location of gain income on related  Location of gain derivatives (loss) recognized hedged items for  recognized for the year ended Hedged items in in income on the year ended  in income on December 31, fair value hedge related December 31,  derivatives 2014 relationships hedged items 2014  Derivatives in fair value  hedging relationships -  Commodity futures Costs of goods sold $ 2,778 Firm commitments Costs of goods sold $ 1,488  Inventory Costs of goods sold (3,411)  Derivatives not designated $ (1,923)  as hedging instruments -  Commodity futures Costs of goods sold $ 14,988 

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Measurements
Schedule of assets and liabilities measured at fair value on a recurring basis	The following table sets forth financial assets and liabilities measured at fair value on a recurring basis in the consolidated balance sheet and the respective levels to which the fair value measurements are classified within the fair value hierarchy as of December 31 (in thousands):      Quoted Prices Significant  in Active Other Significant  Markets for Observable Unobservable  Identical Assets Inputs Inputs  Total (Level 1) (Level 2) (Level 3)  December 31, 2016  Commodity futures – financial assets $ 4,060 $ - $ 4,060 $ -  Commodity futures – financial liabilities 2,083 - 2,083 -   December 31, 2015  Commodity futures – financial assets $ 1,765 $ - $ 1,765 $ -  Commodity futures – financial liabilities 3,925 - 3,925 - 

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies
Schedule of Unconditional Purchase Obligations	The company’s commitments for these agreements with “take or pay” or other similar commitment provisions for the years ending December 31 as follows (in thousands):    2017 $ 122,965  2018 39,684  2019 38,426  2020 37,919  2021 23,515  Thereafter 97,301  $ 359,810 

Transactions with Affiliated 31

Transactions with Affiliated Companies (Tables)	12 Months Ended
	Dec. 31, 2016
Transactions with Affiliated Companies [Abstract]
Schedule of Related Party Transactions	Transactions with Heidtman for the years ended December 31, are as follows (in thousands):    2016 2015 2014  Sales $ 142,624 $ 162,742 $ 234,608  Percentage of consolidated net sales 2% 2% 3%  Accounts receivable 20,737 30,627 35,447  Purchases 9,017 11,429 7,639  Accounts payable 494 431 236  The company also purchases and sells recycled and scrap metal with other smaller affiliated companies. These transactions are as follows (in thousands):    2016 2015 2014  Sales $ 27,305 $ 24,436 $ 39,777  Accounts receivable 5,483 3,645 7,543  Purchases 165,091 178,102 279,177  Accounts payable 12,576 6,199 21,029 

Leases (Table)

Leases (Table)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	   2017 $ 15,499  2018 12,620  2019 10,079  2020 7,564  2021 4,341  Thereafter 9,371  $ 59,474 

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Information
Schedule of operating segment results	The company’s segment results are as follows (in thousands):     Metals Steel  For The Year Ended Steel Recycling Fabrication  December 31, 2016 Operations Operations Operations Other Eliminations Consolidated   Net Sales  External $ 5,399,275 $ 1,007,781 $ 700,852 $ 271,828 $ - $ 7,379,736  External Non-United States 235,436 161,560 189 188 - 397,373  Other segments 236,213 1,002,536 2,481 4,896 (1,246,126) -  5,870,924 2,171,877 703,522 276,912 (1,246,126) 7,777,109  Operating income (loss) 926,954 20,423 (5) 90,955 (301,116) (1) (9,250) (2) 727,966  Income (loss) before income taxes 836,818 8,378 (5) 82,776 (354,589) (9,250) 564,133  Depreciation and amortization 213,227 56,483 10,952 15,652 (205) 296,109  Capital expenditures 160,767 29,443 3,123 4,827 - 198,160   As of December 31, 2016   Assets $ 4,126,448 $ 1,038,946 $ 340,902 $ 1,054,448 (3) $ (137,012) (4) $ 6,423,732       Footnotes related to the year ended December 31, 2016, segment results (in millions):   (1) Corporate SG&A $ (48.9) (2) Gross profit decrease from intra-company sales $ (11.1)  Company-wide equity-based compensation (30.4) Non-cash asset impairment charges 1.8  Profit sharing (66.4) $ (9.3)  Minnesota ironmaking operations (15.8)  Minnesota ironmaking operations non-cash  asset impairment charges ($127.3 net  of eliminating amounts) (129.1)  Other, net (10.5)  $ (301.1)   (3) Cash and equivalents $ 775.7 (4) Elimination of intercompany receivables $ (112.3)  Accounts receivable 2.0 Elimination of intra-company debt (12.1)  Inventories 35.4 Other (12.6)  Income tax receivable 25.3 $ (137.0)  Property, plant and equipment, net 168.5  Intra-company debt 12.1  Other 35.4  $ 1,054.4   (5) Includes $5.5 million of non-cash goodwill  impairment charges.   Note 13. Segment Information (Continued)     Metals Steel  For The Year Ended Steel Recycling Fabrication  December 31, 2015 Operations Operations Operations Other Eliminations Consolidated   Net Sales  External $ 4,935,549 $ 1,249,061 $ 671,323 $ 283,965 $ - $ 7,139,898  External Non-United States 267,963 183,942 2,051 557 - 454,513  Other segments 218,963 904,713 25 30,325 (1,154,026) -  5,422,475 2,337,716 673,399 314,847 (1,154,026) 7,594,411  Operating income (loss) 403,216 (448,137) (5) 115,947 (148,784) (1) 4,974 (2) (72,784)  Income (loss) before income taxes 312,402 (465,426) (5) 108,795 (202,862) 4,974 (242,117)  Depreciation and amortization 205,827 65,640 9,587 13,746 (205) 294,595  Capital expenditures 71,752 21,874 3,395 17,480 - 114,501   As of December 31, 2015   Assets $ 3,827,108 $ 1,067,672 $ 341,276 $ 1,050,506 (3) $ (84,480) (4) $ 6,202,082      Footnotes related to the year ended December 31, 2015, segment results (in millions):   (1) Corporate SG&A $ (37.8) (2) Gross profit increase from intra-company sales $ 5.0  Company-wide equity-based compensation (27.1)  Profit sharing (17.7)  Minnesota ironmaking operations (55.7)  Other, net (10.5)  $ (148.8)   (3) Cash and equivalents $ 641.9 (4) Elimination of intra-company receivables $ (74.9)  Accounts receivable 18.8 Elimination of intra-company debt (6.2)  Inventories 35.1 Other (3.4)  Property, plant and equipment, net 306.0 $ (84.5)  Intra-company debt 6.2  Other 42.5  $ 1,050.5   (5) Includes $428.5 million of pretax non-cash asset  impairment charges.  Note 13. Segment Information (Continued)    Metals Steel  For The Year Ended Steel Recycling Fabrication  December 31, 2014 Operations Operations Operations Other Eliminations Consolidated   Net Sales  External $ 5,300,762 $ 1,985,927 $ 631,750 $ 354,519 $ - $ 8,272,958  External Non-United States 240,981 240,900 - 1,113 - 482,994  Other segments 279,835 1,312,379 58 112,873 (1,705,145) -  5,821,578 3,539,206 631,808 468,505 (1,705,145) 8,755,952  Operating income (loss) 683,609 26,014 51,894 (445,549) (1) 4,352 (2) 320,320  Income (loss) before income taxes 614,653 5,670 45,376 (505,248) (3) 4,352 164,803  Depreciation and amortization 149,064 75,242 9,712 29,512 (205) 263,325  Capital expenditures 62,807 22,223 3,027 23,728 - 111,785      Footnotes related to the year ended December 31, 2014, segment results (in millions):   (1) Corporate SG&A $ (43.2) (2) Gross profit decrease from intra-company sales $ 4.4  Company-wide equity-based compensation (22.8)  Profit sharing (36.8)  Minnesota ironmaking operations (69.8)  Minnesota ironmaking operations non-cash  asset impairment charges (260.0)  Other, net (12.9)  $ (445.5)   (3) Includes $25.2 million of acquisition and  bridge financing costs associated with the  acquisition of Columbus.  

Condensed Consolidating Infor34

Condensed Consolidating Information (Tables)	12 Months Ended
	Dec. 31, 2016
Condensed Consolidating Information
Schedule of Condensed Consolidating Balance Sheets	Note 14. Condensed Consolidating Information (Continued)     Condensed Consolidating Balance Sheets (in thousands)  Combined Consolidating Total  As of December 31, 2016 Parent Guarantors Non-Guarantors Adjustments Consolidated  Cash and equivalents $ 766,685 $ 54,677 $ 20,121 $ - $ 841,483  Accounts receivable, net 229,148 1,257,245 23,689 (780,298) 729,784  Inventories 587,319 639,148 58,696 (9,952) 1,275,211  Other current assets 45,049 36,062 4,447 (2,361) 83,197  Total current assets 1,628,201 1,987,132 106,953 (792,611) 2,929,675  Property, plant and equipment, net 899,370 1,679,751 208,094 - 2,787,215  Intangible assets, net - 251,919 32,058 - 283,977  Goodwill - 385,527 7,824 - 393,351  Other assets, including investments in subs 2,769,884 7,335 5,832 (2,753,537) 29,514  Total assets $ 5,297,455 $ 4,311,664 $ 360,761 $ (3,546,148) $ 6,423,732   Accounts payable $ 141,089 $ 265,764 $ 89,659 $ (101,316) $ 395,196  Accrued expenses 198,085 220,917 8,793 (113,808) 313,987  Current maturities of long-term debt 674 700 29,347 (27,089) 3,632  Total current liabilities 339,848 487,381 127,799 (242,213) 712,815  Long-term debt 2,324,298 - 168,566 (139,670) 2,353,194  Other liabilities (293,711) 1,219,444 42,482 (499,191) 469,024  Total liabilities 2,370,435 1,706,825 338,847 (881,074) 3,535,033   Redeemable noncontrolling interests - - 111,240 - 111,240   Common stock 641 1,727,859 14,908 (1,742,767) 641  Treasury stock (416,829) - - - (416,829)  Additional paid-in capital 1,132,749 128,076 779,678 (907,754) 1,132,749  Retained earnings (deficit) 2,210,459 748,904 (734,351) (14,553) 2,210,459  Total Steel Dynamics, Inc. equity 2,927,020 2,604,839 60,235 (2,665,074) 2,927,020  Noncontrolling interests - - (149,561) - (149,561)  Total equity 2,927,020 2,604,839 (89,326) (2,665,074) 2,777,459  Total liabilities and equity $ 5,297,455 $ 4,311,664 $ 360,761 $ (3,546,148) $ 6,423,732  Note 14. Condensed Consolidating Information (Continued)      Combined Consolidating Total  As of December 31, 2015 Parent Guarantors Non-Guarantors Adjustments Consolidated  Cash and equivalents $ 636,877 $ 81,976 $ 8,179 $ - $ 727,032  Accounts receivable, net 200,094 1,056,285 29,775 (672,549) 613,605  Inventories 539,963 573,924 35,004 499 1,149,390  Other current assets 21,654 25,415 1,676 (831) 47,914  Total current assets 1,398,588 1,737,600 74,634 (672,881) 2,537,941  Property, plant and equipment, net 958,212 1,703,932 291,077 (2,011) 2,951,210  Intangible assets, net - 278,960 - - 278,960  Goodwill - 397,470 - - 397,470  Other assets, including investments in subs 2,941,710 10,040 6,137 (2,921,386) 36,501  Total assets $ 5,298,510 $ 4,128,002 $ 371,848 $ (3,596,278) $ 6,202,082   Accounts payable $ 100,751 $ 183,344 $ 68,948 $ (69,688) $ 283,355  Accrued expenses 141,552 185,873 4,779 (96,949) 235,255  Current maturities of long-term debt 13,122 700 24,975 (22,117) 16,680  Total current liabilities 255,425 369,917 98,702 (188,754) 535,290  Long-term debt 2,546,606 361 177,897 (146,888) 2,577,976  Other liabilities (183,248) 1,342,541 63,020 (804,948) 417,365  Total liabilities 2,618,783 1,712,819 339,619 (1,140,590) 3,530,631   Redeemable noncontrolling interests - - 126,340 - 126,340   Common stock 638 1,727,859 18,120 (1,745,979) 638  Treasury stock (396,455) - - - (396,455)  Additional paid-in capital 1,110,253 117,737 646,787 (764,524) 1,110,253  Retained earnings (deficit) 1,965,291 569,587 (624,402) 54,815 1,965,291  Total Steel Dynamics, Inc. equity 2,679,727 2,415,183 40,505 (2,455,688) 2,679,727  Noncontrolling interests - - (134,616) - (134,616)  Total equity 2,679,727 2,415,183 (94,111) (2,455,688) 2,545,111  Total liabilities and equity $ 5,298,510 $ 4,128,002 $ 371,848 $ (3,596,278) $ 6,202,082 
Schedule of Condensed Consolidating Statements of Operations	      Condensed Consolidating Statements of Operations (in thousands)   Combined Consolidating Total  For the year ended December 31, 2016 Parent Guarantors Non-Guarantors Adjustments Consolidated  Net sales $ 3,037,801 $ 8,356,727 $ 388,071 $ (4,005,490) $ 7,777,109  Costs of goods sold 2,428,863 7,522,791 390,313 (3,899,722) 6,442,245  Gross profit (loss) 608,938 833,936 (2,242) (105,768) 1,334,864  Selling, general and administrative 196,442 281,071 16,103 (19,557) 474,059  Asset impairment charges 12,700 5,500 116,445 (1,806) 132,839  Operating income (loss) 399,796 547,365 (134,790) (84,405) 727,966  Interest expense, net of capitalized interest 71,182 72,420 10,874 (8,439) 146,037  Other (income) expense, net 14,200 (5,363) 520 8,439 17,796  Income (loss) before income taxes and  equity in net income of subsidiaries 314,414 480,308 (146,184) (84,405) 564,133  Income taxes (benefit) 69,454 180,990 (15,825) (30,492) 204,127  244,960 299,318 (130,359) (53,913) 360,006  Equity in net income of subsidiaries 137,155 - - (137,155) -  Net loss attributable to noncontrolling interests - - 22,109 - 22,109  Net income (loss) attributable to Steel Dynamics, Inc. $ 382,115 $ 299,318 $ (108,250) $ (191,068) $ 382,115      Combined Consolidating Total  For the year ended December 31, 2015 Parent Guarantors Non-Guarantors Adjustments Consolidated  Net sales $ 2,908,904 $ 8,132,043 $ 361,944 $ (3,808,480) $ 7,594,411  Costs of goods sold 2,515,621 7,646,411 420,281 (3,719,620) 6,862,693  Gross profit (loss) 393,283 485,632 (58,337) (88,860) 731,718  Selling, general and administrative 128,929 254,106 11,893 (18,926) 376,002  Asset impairment charges - 428,500 - - 428,500  Operating income (loss) 264,354 (196,974) (70,230) (69,934) (72,784)  Interest expense, net of capitalized interest 75,457 76,009 6,969 (4,485) 153,950  Other (income) expense, net 13,970 332 (3,404) 4,485 15,383  Income (loss) before income taxes and  equity in net loss of subsidiaries 174,927 (273,315) (73,795) (69,934) (242,117)  Income taxes (benefit) (124,626) 61,571 (4,627) (29,265) (96,947)  299,553 (334,886) (69,168) (40,669) (145,170)  Equity in net loss of subsidiaries (429,864) - - 429,864 -  Net loss attributable to noncontrolling interests - - 14,859 - 14,859  Net income (loss) attributable to Steel Dynamics, Inc. $ (130,311) $ (334,886) $ (54,309) $ 389,195 $ (130,311)   Note 14. Condensed Consolidating Information (Continued)     Combined Consolidating Total  For the year ended December 31, 2014 Parent Guarantors Non-Guarantors Adjustments Consolidated  Net sales $ 3,904,488 $ 9,761,236 $ 527,584 $ (5,437,356) $ 8,755,952  Costs of goods sold 3,305,269 9,212,977 598,428 (5,326,933) 7,789,741  Gross profit (loss) 599,219 548,259 (70,844) (110,423) 966,211  Selling, general and administrative 149,374 241,163 13,503 (18,149) 385,891  Asset impairment charges - - 260,000 - 260,000  Operating income (loss) 449,845 307,096 (344,347) (92,274) 320,320  Interest expense, net of capitalized interest 78,442 56,006 7,745 (4,930) 137,263  Other (income) expense, net 18,976 (23) (5,629) 4,930 18,254  Income (loss) before income taxes and  equity in net loss of subsidiaries 352,427 251,113 (346,463) (92,274) 164,803  Income taxes (benefit) 14,064 96,315 (1,095) (36,131) 73,153  338,363 154,798 (345,368) (56,143) 91,650  Equity in net loss of subsidiaries (181,339) - - 181,339 -  Net loss attributable to noncontrolling interests - - 65,374 - 65,374  Net income (loss) attributable to Steel Dynamics, Inc. $ 157,024 $ 154,798 $ (279,994) $ 125,196 $ 157,024 
Schedule of Condensed Consolidating Statements of Cash Flows	  Condensed Consolidating Statements of Cash Flows (in thousands)   Combined Consolidating Total  For the year ended December 31, 2016 Parent Guarantors Non-Guarantors Adjustments Consolidated   Net cash provided by operating activities $ 326,216 $ 517,699 $ 6,057 $ 2,797 $ 852,769  Net cash used in investing activities (161,043) (140,027) (9,578) (2,245) (312,893)  Net cash provided by (used in) financing activities (35,365) (404,971) 15,463 (552) (425,425)  Increase (decrease) in cash and equivalents 129,808 (27,299) 11,942 - 114,451  Cash and equivalents at beginning of period 636,877 81,976 8,179 - 727,032  Cash and equivalents at end of period $ 766,685 $ 54,677 $ 20,121 $ - $ 841,483       Combined Consolidating Total  For the year ended December 31, 2015 Parent Guarantors Non-Guarantors Adjustments Consolidated   Net cash provided by operating activities $ 436,012 $ 594,437 $ 19,388 $ 3,788 $ 1,053,625  Net cash used in investing activities (64,457) (82,751) (15,703) 20,284 (142,627)  Net cash provided by (used in) financing activities 9 (511,400) (9,866) (24,072) (545,329)  Increase (decrease) in cash and equivalents 371,564 286 (6,181) - 365,669  Cash and equivalents at beginning of period 265,313 81,690 14,360 - 361,363  Cash and equivalents at end of period $ 636,877 $ 81,976 $ 8,179 $ - $ 727,032  Note 14. Condensed Consolidating Information (Continued)     Combined Consolidating Total  For the year ended December 31, 2014 Parent Guarantors Non-Guarantors Adjustments Consolidated   Net cash provided by (used in) operating activities $ 410,856 $ 279,080 $ (38,666) $ (23,046) $ 628,224  Net cash used in investing activities (1,690,363) (8,883) (23,206) (24,815) (1,747,267)  Net cash provided by (used in) financing activities 1,223,954 (249,655) 63,090 47,861 1,085,250  Increase (decrease) in cash and equivalents (55,553) 20,542 1,218 - (33,793)  Cash and equivalents at beginning of period 320,866 61,148 13,142 - 395,156  Cash and equivalents at end of period $ 265,313 $ 81,690 $ 14,360 $ - $ 361,363 

Quarterly Financial Informati35

Quarterly Financial Information (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information
Schedule of Quarterly Financial Information	    1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter  2016:  Net Sales $ 1,741,301 $ 2,023,902 $ 2,101,310 $ 1,910,596  Gross profit 236,036 380,383 408,503 309,942  Operating income (loss) 131,965 256,122 283,855 56,024  Net income (loss) 61,318 140,443 154,413 3,832  Net income (loss) attributable to Steel Dynamics, Inc. 62,737 141,969 157,397 20,012  Earnings (loss) per share:  Basic 0.26 0.58 0.65 0.08  Diluted 0.26 0.58 0.64 0.08   2015:  Net Sales $ 2,047,435 $ 2,005,007 $ 1,950,923 $ 1,591,046  Gross profit 187,042 171,743 228,726 144,207  Operating income (loss) 99,771 77,559 131,029 (381,143)  Net income (loss) 26,954 25,325 58,867 (256,316)  Net income (loss) attributable to Steel Dynamics, Inc. 30,761 31,550 60,617 (253,239)  Earnings (loss) per share:  Basic 0.13 0.13 0.25 (1.04)  Diluted 0.13 0.13 0.25 (1.04) 

Description of the Business a36

Description of the Business and Significant Accounting Policies (Segments) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)segmentitem	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Segment Reporting Information
Workforce represented by collective bargaining agreements (as a percent)	9.00%
Number of collective bargaining agreements that expire | item	6
Workforce Subject To Collective Bargaining Arrangements Subject to Expire Percent	7.00%
Number of locations subject to collective bargaining agreements that expire | item	4
Impairment charges	$ 132,839	$ 428,500	$ 260,000
Segment Reporting Information
Number of reporting segments | segment	3
Steel Operations
Segment Reporting Information
Percentage of external net sales	72.00%	69.00%	63.00%
Metals Recycling Operations
Segment Reporting Information
Percentage of external net sales	15.00%	19.00%	25.00%
Steel Fabrication Operations
Segment Reporting Information
Percentage of external net sales	9.00%	9.00%	7.00%
Mining Resources
Segment Reporting Information
Business Combination, Consideration Transferred	$ 15,100
Minnesota Ironmaking Operations
Segment Reporting Information
Impairment charges	127,300	$ 428,500	$ 260,000
Minnesota Ironmaking Operations | Parent [Member]
Segment Reporting Information
Impairment charges	72,900		132,600
Minnesota Ironmaking Operations | Noncontrolling Interests
Segment Reporting Information
Impairment charges	$ 13,100		$ 46,500

Description of the Business a37

Description of the Business and Summary of Significant Accounting Policies (Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Description of the Business and Significant Accounting Policies
Raw materials	$ 515,924	$ 419,608
Supplies	383,134	396,349
Work in progress	103,606	90,486
Finished goods	272,547	242,947
Total inventories	$ 1,275,211	$ 1,149,390

Description of the Business a38

Description of the Business and Summary of Significant Accounting Policies (Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, plant and equipment
Depreciation expense	$ 260,600	$ 263,200	$ 229,400
Property, plant and equipment	5,066,989	5,077,702
Less accumulated depreciation	2,279,774	2,126,492
Property, Plant and Equipment, Net, Total	2,787,215	2,951,210
Land and improvements
Property, plant and equipment
Property, plant and equipment	311,005	328,739
Buildings and improvements
Property, plant and equipment
Property, plant and equipment	$ 709,809	706,708
Buildings and improvements | Minimum
Property, plant and equipment
Property, plant and equipment useful life	10 years
Buildings and improvements | Maximum
Property, plant and equipment
Property, plant and equipment useful life	40 years
Plant, machinery and equipment
Property, plant and equipment
Property, plant and equipment	$ 3,975,560	3,966,181
Plant, machinery and equipment | Minimum
Property, plant and equipment
Property, plant and equipment useful life	3 years
Plant, machinery and equipment | Maximum
Property, plant and equipment
Property, plant and equipment useful life	20 years
Construction in progress
Property, plant and equipment
Property, plant and equipment	$ 70,615	$ 76,074

Description of the Business a39

Description of the Business and Summary of Significant Accounting Policies (Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)		$ 39,500
Intangible Assets, Gross (Excluding Goodwill)	$ 578,653	544,900
Less accumulated amortization	294,676	265,940
Intangible Assets, Net (Excluding Goodwill), Total	283,977	278,960
Amortization of Intangible Assets	28,765	24,180	$ 26,490
Estimated amortization expense
2,017	29,068
2,018	26,434
2,019	24,330
2,020	22,204
2,021	20,415
Thereafter	161,526
Total	283,977
Impairment of Long-Lived Tangible and Definite-Lived Intangible Assets
Assets held for sale, asset impairment charge		10,300
Asset impairment charges	$ 132,839	428,500	260,000
Weighted average
Finite-Lived Intangible Assets [Line Items]
Useful Life	19 years
Minnesota Ironmaking Operations
Impairment of Long-Lived Tangible and Definite-Lived Intangible Assets
Asset impairment charges	$ 127,300	428,500	260,000
Minnesota Ironmaking Operations | Noncontrolling Interests
Impairment of Long-Lived Tangible and Definite-Lived Intangible Assets
Asset impairment charges	13,100		46,500
Minnesota Ironmaking Operations | Parent [Member]
Impairment of Long-Lived Tangible and Definite-Lived Intangible Assets
Asset impairment charges	72,900		$ 132,600
Customer and scrap generator relationships
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 446,688	420,400
Customer and scrap generator relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	10 years
Customer and scrap generator relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	25 years
Customer and scrap generator relationships | Weighted average
Finite-Lived Intangible Assets [Line Items]
Useful Life	19 years
Trade names
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 130,550	85,000
Trade names | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	15 years
Trade names | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	25 years
Trade names | Weighted average
Finite-Lived Intangible Assets [Line Items]
Useful Life	18 years
Trade names | The Techs
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 81,800
Trade names | OmniSource
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	39,500
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 1,415
Useful Life	3 years
Other Intangible Assets [Member] | Weighted average
Finite-Lived Intangible Assets [Line Items]
Useful Life	3 years
Other current assets
Impairment of Long-Lived Tangible and Definite-Lived Intangible Assets
Assets held for sale	$ 29,300	$ 8,600

Description of the Business a40

Description of the Business and Significant Accounting Policies (Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill
Goodwill	$ 393,351	$ 397,470
Compensation expense for stock options	30,400	27,100	$ 22,800
Steel Operations | Columbus Flat Roll Division
Goodwill
Goodwill	19,682	19,682
Steel Operations | The Techs
Goodwill
Goodwill	142,783	142,783
Steel Operations | Vulcan Steel Products [Member]
Goodwill
Goodwill	7,824
Steel Operations | Roanoke Bar Division
Goodwill
Goodwill	29,041	29,041
Metals Recycling Operations
Goodwill
Goodwill, Impairment Loss	5,500
Metals Recycling Operations | Butler Flat Roll Division, Structural and Rail Division, and Engineered Bar Division
Goodwill
Goodwill	95,000	95,000
Metals Recycling Operations | OmniSource
Goodwill
Goodwill	97,096	109,039
Goodwill, Impairment Loss	5,500	341,300
Goodwill decrease due to tax benefit related to the normal amortization of the component	6,400
Goodwill, Impaired, Accumulated Impairment Loss	346,800	341,300
Indefinite-lived intangible assets impairment charge		68,500
Steel Fabrication Operations | New Millennium Building Systems
Goodwill
Goodwill	$ 1,925	$ 1,925

Description of the Business a41

Description of the Business and Summary of Significant Accounting Policies (Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net Income (Loss) (Numerator)
Basic earnings per share - net income (in dollars)	$ 20,012	$ 157,397	$ 141,969	$ 62,737	$ (253,239)	$ 60,617	$ 31,550	$ 30,761	$ 382,115	$ (130,311)	$ 157,024
5.125% convertible senior notes, net of tax											4,327
Diluted earnings per share - net income (in dollars)									$ 382,115	$ (130,311)	$ 161,351
Weighted average common shares outstanding (in shares)
Weighted average common shares outstanding - basic (in shares)									243,576	242,017	232,547
Dilutive common share equivalents (in shares)									1,722		1,828
5.125% convertible senior notes, net of tax											7,703
Weighted average common shares outstanding - diluted (in shares)									245,298	242,017	242,078
Per Share Amount
Basic (in dollars per share)	$ 0.08	$ 0.65	$ 0.58	$ 0.26	$ (1.04)	$ 0.25	$ 0.13	$ 0.13	$ 1.57	$ (0.54)	$ 0.68
Diluted (in dollars per share)	$ 0.08	$ 0.64	$ 0.58	$ 0.26	$ (1.04)	$ 0.25	$ 0.13	$ 0.13	$ 1.56	$ (0.54)	$ 0.67
Employee Stock Option
Antidilutive securities excluded from computation of earnings per share amount
Antidilutive common share equivalents excluded from computation of earnings per share amount (in shares)										1,500

Description of the Business a42

Description of the Business and Summary of Significant Accounting Policies - (Concentration of Credit Risk) (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accounts receivable | Credit risk
Concentration of credit risk
Percentage of consolidated net accounts receivable from related party	3.00%	5.00%

Description of the Business a43

Description of the Business and Significant Accounting Policies (Recently Adopted/Issued Accounting Standards) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncement, Early Adoption [Line Items]
Excess tax benefit of share-based payments	$ 5
Cash paid to tax authorities from shares withheld to satisfy statutory income tax withholding obligation	$ 13.4	$ 8.8	$ 10.7
Accounting Standards Update 2016-15 [Member]
New Accounting Pronouncement, Early Adoption [Line Items]
Payments of Debt Extinguishment Costs		$ 13.4
Cash received reclassified from operating to investing activities			$ 7

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Aug. 31, 2016	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Aug. 01, 2016
Acquisition
Purchase price paid in cash			$ 123,351	$ 45,000	$ 1,669,449
Amortization of Intangible Assets			28,765	$ 24,180	$ 26,490
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months			29,068
Finite-Lived Intangible Assets, Amortization Expense, Year Two			26,434
Finite-Lived Intangible Assets, Amortization Expense, Year Three			24,330
Finite-Lived Intangible Assets, Amortization Expense, Year Four			22,204
Finite-Lived Intangible Assets, Amortization Expense, Year Five			20,415
Finite-Lived Intangible Assets, Amortization Expense, after Year Five			$ 161,526
Other Intangible Assets [Member]
Acquisition
Expected Life			3 years
Vulcan
Acquisition
Business Acquisition, Percentage of Voting Interests Acquired						100.00%
Purchase price paid in cash	$ 113,000
Intangible assets	32,930
Amortization of Intangible Assets			$ 872
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months			2,652
Finite-Lived Intangible Assets, Amortization Expense, Year Two			2,552
Finite-Lived Intangible Assets, Amortization Expense, Year Three			2,081
Finite-Lived Intangible Assets, Amortization Expense, Year Four			1,742
Finite-Lived Intangible Assets, Amortization Expense, Year Five			1,642
Finite-Lived Intangible Assets, Amortization Expense, after Year Five			$ 21,400
Vulcan | Customer and scrap generator relationships
Acquisition
Intangible assets	25,600
Expected Life			20 years
Vulcan | Trade names
Acquisition
Intangible assets	6,100
Expected Life			25 years
Vulcan | Other Intangible Assets [Member]
Acquisition
Intangible assets	$ 1,200
Consolidated Systems, Inc [Member]
Acquisition
Purchase price paid in cash		$ 45,000
Working capital purchased		$ 30,000

Acquisitions (Schedule of Asset

Acquisitions (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Aug. 31, 2016	Dec. 31, 2015
Acquisition
Goodwill	$ 393,351		$ 397,470
Vulcan
Acquisition
Current assets, net of cash acquired		$ 37,242
Property, plant & equipment		40,213
Intangible assets		32,930
Goodwill		7,824
Total assets acquired		118,209
Liabilities assumed		5,197
Net assets acquired		$ 113,012

Long-Term Debt - By Issue (Deta

Long-Term Debt - By Issue (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Long Term Debt
Total debt	$ 2,386,791	$ 2,628,134
Less debt issuance costs	29,965	33,478
Total amounts outstanding	2,356,826	2,594,656
Less current maturities	3,632	16,680
Long-term debt	2,353,194	2,577,976
5.125% senior notes due 2021
Long Term Debt
Total debt	700,000	700,000
Total amounts outstanding	$ 700,000
Stated interest rate	5.125%
6 3/8% Senior Notes, due 2022
Long Term Debt
Total debt	$ 350,000	350,000
Total amounts outstanding	$ 350,000
Stated interest rate	6.375%
5 1/4% Senior Notes due 2023
Long Term Debt
Total debt	$ 400,000	400,000
Total amounts outstanding	$ 400,000
Stated interest rate	5.25%
5.500% senior notes due 2024
Long Term Debt
Total debt	$ 500,000	500,000
Total amounts outstanding	$ 500,000
Stated interest rate	5.50%
Senior Notes 5.000 Percent Due 2026 [Member]
Long Term Debt
Total debt	$ 400,000
Total amounts outstanding	$ 400,000
Stated interest rate	5.00%
6 1/8% senior notes, due 2019
Long Term Debt
Total debt		400,000
Stated interest rate	6.125%
Senior term loan
Long Term Debt
Total debt		237,500
Other obligations
Long Term Debt
Total debt	$ 36,791	$ 40,634

Long-Term Debt - Financing Acti

Long-Term Debt - Financing Activity (Details)	1 Months Ended		3 Months Ended		12 Months Ended
	Dec. 31, 2016USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)$ / sharesshares
Long Term Debt
Repayments of debt					$ 728,993,000	$ 625,924,000	$ 635,578,000
Convertible Debt
Long Term Debt
Stated interest rate							5.125%
Repayments of debt		$ 15,700,000
Principal amount of debt converted							$ 271,800,000
Convertible debt rate, basis for conversion							58.4731
Conversion price per share (in dollars per share) | $ / shares							$ 17.10
Shares issued upon conversion | shares							15,893,457
5.125% senior notes due 2021
Long Term Debt
Debt Instrument, Face Amount	$ 700,000,000		$ 700,000,000		$ 700,000,000
Stated interest rate	5.125%		5.125%		5.125%
6 3/8% Senior Notes, due 2022
Long Term Debt
Stated interest rate	6.375%		6.375%		6.375%
5 1/4% Senior Notes due 2023
Long Term Debt
Stated interest rate	5.25%		5.25%		5.25%
5.500% senior notes due 2024
Long Term Debt
Debt Instrument, Face Amount	$ 500,000,000		$ 500,000,000		$ 500,000,000
Stated interest rate	5.50%		5.50%		5.50%
Senior Notes 5.000 Percent Due 2026 [Member]
Long Term Debt
Debt Instrument, Face Amount	$ 400,000,000		$ 400,000,000		$ 400,000,000
Stated interest rate	5.00%		5.00%		5.00%
6 1/8% senior notes, due 2019
Long Term Debt
Debt Instrument, Face Amount	$ 400,000,000		$ 400,000,000		$ 400,000,000
Stated interest rate	6.125%		6.125%		6.125%
Associated premiums and related expenses recorded			$ 16,500,000
Redemption price of debt instrument (as a percent)	103.388%
Repayments of debt	$ 266,300,000
7 5/8% senior notes, due 2020
Long Term Debt
Stated interest rate						7.625%
Associated premiums and related expenses recorded				$ 16,700,000
Redemption price of debt instrument (as a percent)						103.813%
Repayments of debt				$ 350,000,000		$ 350,000,000,000
Expenses recorded related to tender offer and early payoff of Senior Notes related to tender premiums, unamortized debt issuance cost write-off, and tender expenses						$ 16,700,000
Senior Notes Due 2016 [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)	103.063%
Repayments of debt	$ 133,700,000
Senior term loan
Long Term Debt
Repayments of debt	228,100,000		$ 228,100,000
Expenses recorded related to tender offer and early payoff of Senior Notes related to tender premiums, unamortized debt issuance cost write-off, and tender expenses	$ 16,500,000

Long-Term Debt - Senior Secured

Long-Term Debt - Senior Secured Credit Facility (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Long Term Debt
Repayments of debt	$ 728,993	$ 625,924	$ 635,578
Unpaid principal balance payment	3,491
Senior secured revolving credit facility
Long Term Debt
Maximum borrowing capacity of credit facility	1,200,000
Additional amount by which facility size can be increased	750,000
Availability on the senior secured revolver	1,200,000
Outstanding letters of credit and other obligations which reduce availability	$ 12,400
Consolidated interest coverage ratio	8.32
Leverage ratio	1.58
Senior secured revolving credit facility | Minimum
Long Term Debt
Unused commitment fee (as a percent)	0.225%
Consolidated interest coverage ratio	2.50
Leverage ratio	3.50
Senior secured revolving credit facility | Minimum | LIBOR
Long Term Debt
Interest rate added to the base rate (as a percent)	1.00%
Senior secured revolving credit facility | Maximum
Long Term Debt
Unused commitment fee (as a percent)	0.375%
Leverage ratio	5
Senior secured revolving credit facility | Maximum | LIBOR
Long Term Debt
Interest rate added to the base rate (as a percent)	2.00%
Senior secured revolving credit facility | Maximum | Prime
Long Term Debt
Interest rate added to the base rate (as a percent)	1.00%

Long-Term Debt - Senior Unsecur

Long-Term Debt - Senior Unsecured Notes (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Long Term Debt
Outstanding Balance	$ 2,356,826	$ 2,356,826	$ 2,594,656
Senior Notes | Maximum
Long Term Debt
Maximum redemption of debt instrument (as a percent)		35.00%
5.125% senior notes due 2021
Long Term Debt
Outstanding Balance	$ 700,000	$ 700,000
Stated interest rate	5.125%	5.125%
5.125% senior notes due 2021 | Debt Instrument, Redemption, Period One [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		105.125%
5.125% senior notes due 2021 | Debt Instrument, Redemption, Period Two [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		102.563%
5.125% senior notes due 2021 | Debt Instrument, Redemption, Period Three [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		101.281%
5.125% senior notes due 2021 | Debt Instrument, Redemption, Period Four [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		100.00%
6 3/8% Senior Notes, due 2022
Long Term Debt
Outstanding Balance	$ 350,000	$ 350,000
Stated interest rate	6.375%	6.375%
6 3/8% Senior Notes, due 2022 | Debt Instrument, Redemption, Period Two [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		103.188%
6 3/8% Senior Notes, due 2022 | Debt Instrument, Redemption, Period Three [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		102.125%
6 3/8% Senior Notes, due 2022 | Debt Instrument, Redemption, Period Four [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		101.063%
6 3/8% Senior Notes, due 2022 | Debt Instrument, Redemption, Period Five [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		100.00%
5 1/4% Senior Notes due 2023
Long Term Debt
Outstanding Balance	$ 400,000	$ 400,000
Stated interest rate	5.25%	5.25%
5 1/4% Senior Notes due 2023 | Debt Instrument, Redemption, Period Two [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		102.625%
5 1/4% Senior Notes due 2023 | Debt Instrument, Redemption, Period Three [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		101.75%
5 1/4% Senior Notes due 2023 | Debt Instrument, Redemption, Period Four [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		100.875%
5 1/4% Senior Notes due 2023 | Debt Instrument, Redemption, Period Five [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		100.00%
5.500% senior notes due 2024
Long Term Debt
Outstanding Balance	$ 500,000	$ 500,000
Stated interest rate	5.50%	5.50%
5.500% senior notes due 2024 | Debt Instrument, Redemption, Period One [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		105.50%
5.500% senior notes due 2024 | Debt Instrument, Redemption, Period Two [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		102.75%
5.500% senior notes due 2024 | Debt Instrument, Redemption, Period Three [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		101.833%
5.500% senior notes due 2024 | Debt Instrument, Redemption, Period Four [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		100.917%
5.500% senior notes due 2024 | Debt Instrument, Redemption, Period Five [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		100.00%
Senior Notes 5.000 Percent Due 2026 [Member]
Long Term Debt
Outstanding Balance	$ 400,000	$ 400,000
Stated interest rate	5.00%	5.00%
Senior Notes 5.000 Percent Due 2026 [Member] | Debt Instrument, Redemption, Period One [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		105.00%
Senior Notes 5.000 Percent Due 2026 [Member] | Debt Instrument, Redemption, Period Two [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		102.50%
Senior Notes 5.000 Percent Due 2026 [Member] | Debt Instrument, Redemption, Period Three [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		101.667%
Senior Notes 5.000 Percent Due 2026 [Member] | Debt Instrument, Redemption, Period Four [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		100.833%
Senior Notes 5.000 Percent Due 2026 [Member] | Debt Instrument, Redemption, Period Five [Member]
Long Term Debt
Redemption price of debt instrument (as a percent)		100.00%
6 1/8% senior notes, due 2019
Long Term Debt
Stated interest rate	6.125%	6.125%
Redemption price of debt instrument (as a percent)	103.388%

Long-Term Debt - Other Secured

Long-Term Debt - Other Secured Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Long Term Debt
Outstanding principal balance	$ 2,386,791	$ 2,628,134
Minnesota Economic Development State Loans
Long Term Debt
Stated interest rate	3.50%
Outstanding principal balance	$ 22,300	24,000
Interest rate percent after February 2017	5.00%
Electric Utility Development Loans
Long Term Debt
Stated interest rate	8.10%
Outstanding principal balance	$ 4,200	4,900
Senior secured revolving credit facility
Long Term Debt
Unused stand-by letter of credit	1,200,000
Maximum borrowing capacity of credit facility	1,200,000
Standby letters of credit | Electric Utility Development Loans
Long Term Debt
Unused stand-by letter of credit	3,000
Revolving credit facility entered into by a controlled subsidiary
Long Term Debt
Maximum borrowing capacity of credit facility	40,000
Borrowings outstanding	$ 0
Secured Debt [Member]
Long Term Debt
Stated interest rate	6.00%
Outstanding principal balance	$ 9,500	$ 10,100

Long-Term Debt - Outstanding De

Long-Term Debt - Outstanding Debt Maturities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Maturities of outstanding debt
2,017	$ 3,632
2,018	3,102
2,019	3,292
2,020	3,491
2,021	703,708
Thereafter	1,669,566
Total debt	2,386,791	$ 2,628,134
Interest costs
Interest costs incurred	148,500	154,400	$ 139,700
Interest costs incurred capitalized	2,500	457	2,500
Cash paid for interest	$ 150,679	$ 160,190	$ 114,310

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Expense (Benefit)	$ 204,127	$ (96,947)	$ 73,153
Deferred Tax Assets, Valuation Allowance	33,427	$ 26,835
Unrecognized Tax Benefits, Period Increase (Decrease)	6,600
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	11,800
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	170
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	4,800
Minimum
Income Tax Examination, Estimate of Possible Loss	0
Maximum
Income Tax Examination, Estimate of Possible Loss	5,700
Accounting Standards Update 2016-09 [Member]
Excess tax benefit of share-based payments	5,000
Domestic Tax Authority [Member]
Operating Loss Carryforwards	$ 85,600

Income Taxes (Schedule of Compo

Income Taxes (Schedule of Components of Income Tax Expense (Benefit) ) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Taxes
Current income tax expense	$ 153,176	$ 6,391	$ 94,312
Deferred income tax expense (benefit)	50,951	(103,338)	(21,159)
Total income tax expense (benefit)	$ 204,127	$ (96,947)	$ 73,153

Income Taxes (Schedule of Effec

Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Taxes
Statutory federal tax rate	35.00%	35.00%	35.00%
State income taxes, net of federal benefit	2.60%	6.30%	4.60%
Domestic manufacturing deduction	(2.50%)		(4.80%)
Noncontrolling interests	1.40%	(2.10%)	13.90%
Federal research and development tax credits	(0.20%)		(1.50%)
Other permanent differences	(0.10%)	0.80%	(2.80%)
Effective tax rate	36.20%	40.00%	44.40%

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets
Accrued expenses and allowances	$ 24,986	$ 21,205
Inventories	11,805	21,559
Net operating loss carryforwards	48,920	61,148
Intangible Assets	14,779	28,553
Other	8,491	8,684
Subtotal	108,981	141,149
Less: valuation allowance	(33,427)	(26,835)
Total net deferred tax assets	75,554	114,314
Deferred tax liabilities
Property, plant and equipment	(519,977)	(511,596)
Other	(3,952)	(3,488)
Total deferred tax liabilities	(523,929)	(515,084)
Net deferred tax liability	$ (448,375)	$ (400,770)

Income Taxes (Schedule of Unrec

Income Taxes (Schedule of Unrecognized Tax Benefits Roll Forward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Taxes
Unrecognized Tax Benefits, Beginning Balance	$ 15,991	$ 17,338	$ 26,564
Increases related to current year tax positions	300		1,050
Increases related to prior year tax positions	5,452	81	653
Decreases related to prior year tax positions	(535)	(719)	(2,298)
Settlements with taxing authorities	(2,101)	(70)	(8,631)
Lapses in statute of limitations		(639)
Unrecognized Tax Benefits, Ending Balance	$ 19,107	$ 15,991	$ 17,338

Shareholders_ Equity (Details)

Shareholders’ Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Shareholders’ Equity
Dividends, Common Stock, Cash	$ 136,472	$ 133,227	$ 108,630
Common Stock, Dividends, Per Share, Declared	$ 0.56	$ 0.55	$ 0.46
Payments of Ordinary Dividends, Common Stock	$ 135,767	$ 127,569	$ 105,379
Stock Repurchase Program, Authorized Amount	$ 450,000
Share repurchases (in shares)	732
Share repurchases	$ 25,034
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 425,000

Equity-based Incentive Plans (2

Equity-based Incentive Plans (2015 Equity Incentive Plan ) (Details)	12 Months Ended
	Dec. 31, 2016shares	Dec. 31, 2015shares	Dec. 31, 2014shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Retirement Eligible Age For Vesting Of Awards	59 years 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
Additional number of shares authorized for issuance		12,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	7,200,000
Performance/Service period one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	100.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	2 years
Equity Incentive 2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Share Limit Against Which Full Value Awards Will Be Counted	2.09
Deferred Stock Units (DSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	60,000	51,000	54,000
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	86,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	852,063	1,589,309	1,121,416

Equity-based Incentive Plans (R

Equity-based Incentive Plans (Restricted Stock Units) (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Number of RSUs
Outstanding	2,278,704	2,011,226	2,279,643
Granted	852,063	1,589,309	1,121,416
Vested	(962,828)	(1,197,403)	(1,245,489)
Forfeited	(139,922)	(124,428)	(144,344)
Outstanding	2,028,017	2,278,704	2,011,226
Weighted Average Grant Date Fair Value
Outstanding	$ 18.55	$ 19.85	$ 14.97
Granted	32.40	16.70	21.82
Vested	22.76	18.13	13.20
Forfeited	18.50	19.89	15.51
Outstanding	$ 22.38	$ 18.55	$ 19.85
Aggregate Intrinsic Value
Outstanding	$ 72,157	$ 40,720	$ 39,702	$ 44,544
Unrecognized Compensation
Outstanding	$ 29,086	27,615	25,171	$ 22,197
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Weighted average remaining life	1 year 3 months
Fair value of instruments vested during the period	$ 34,300	$ 21,400	$ 24,600
Total shares withheld	338,000	427,000	444,000

Equity-based Incentive Plans (S

Equity-based Incentive Plans (Stock Options) (Details) - Employee Stock Option - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of Options
Outstanding	595,945	1,398,515	3,257,170
Exercised	(570,197)	(753,159)	(1,773,872)
Forfeited	(25,748)	(49,411)	(84,783)
Outstanding		595,945	1,398,515
Weighted Average Exercise Price
Outstanding	$ 14.43	$ 14.62	$ 14.84
Exercised	14.41	14.75	15.01
Forfeited	14.96	15.02	14.98
Outstanding		14.43	14.62
Weighted Average Grant Date Fair Value
Outstanding	5.41	5.61	5.58
Exercised	5.40	5.75	5.57
Forfeited	$ 5.62	5.87	5.45
Outstanding		$ 5.41	$ 5.61
Unrecognized Compensation
Outstanding	$ 0
Aggregate intrinsic value	$ 5.6	$ 4	$ 9.3

Equity-based Incentive Plans (L

Equity-based Incentive Plans (Long-Term Incentive Compensation Program) (Details) - Senior Executive Officers	12 Months Ended
	Dec. 31, 2016shares
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards earned as percentage of specified compensation	0.00%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards earned as percentage of specified compensation	100.00%
2013 Award | One-year performance period transition award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum Shares That Could Be Issued	173,319
Award Earned	164,653
2013 Award | One-year performance period transition award | Performance/Service period one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued/Issuable	54,885
2013 Award | One-year performance period transition award | Performance/Service period two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued/Issuable	54,884
2013 Award | One-year performance period transition award | Performance/Service period three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued/Issuable	54,884
2013 Award | Two-year performance period transition award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum Shares That Could Be Issued	173,319
Award Earned	159,457
2013 Award | Two-year performance period transition award | Performance/Service period one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued/Issuable	53,154
2013 Award | Two-year performance period transition award | Performance/Service period two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued/Issuable	66,252
2013 Award | Two-year performance period transition award | Performance/Service period three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued/Issuable	40,051
2013 Award | Three-year performance period award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum Shares That Could Be Issued	173,319
Award Earned	149,060
2013 Award | Three-year performance period award | Performance/Service period one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued/Issuable	74,179
2013 Award | Three-year performance period award | Performance/Service period two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued/Issuable	37,441
2013 Award | Three-year performance period award | Performance/Service period three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued/Issuable	37,440
2014 Award | Three-year performance period award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum Shares That Could Be Issued	204,740
Award Earned	200,644
2014 Award | Three-year performance period award | Performance/Service period one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued/Issuable	66,882
2014 Award | Three-year performance period award | Performance/Service period two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued/Issuable	66,882
2014 Award | Three-year performance period award | Performance/Service period three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued/Issuable	66,880
2015 Award | Three-year performance period award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum Shares That Could Be Issued	236,434
2016 Award | Three-year performance period award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum Shares That Could Be Issued	324,469

Equity-based Incentive Plans 62

Equity-based Incentive Plans (2013 Executive Incentive Compensation Plan) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional number of shares authorized for issuance		12,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	7,200,000
Performance/Service period one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	2 years
Executive Incentive Compensation Plan 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized				2,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	2,200,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	117,000	0	221,900
Award Market Value	$ 4		$ 3.8
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	2 years

Equity-based Incentive Plans 63

Equity-based Incentive Plans (2014 Employee Stock Purchase Plan) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 30,400,000	$ 27,100,000	$ 22,800,000
Employee Stock Purchase Plan 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum annual allowable payroll deduction per employee	$ 10,400
Employer's matching contribution percentage of employees' payroll deductions	10.00%
Allocated Share-based Compensation Expense	$ 514,000	$ 468,000	$ 376,000

Derivative Financial Instrume64

Derivative Financial Instruments (Narrative) (Details) - Commodity contract - Futures - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other current assets
Commodity contract commitments
Fair value of derivatives including required margin deposits	$ 3,200	$ 3,400
Designated as hedging instrument
Gains or losses on derivative instruments, statement of income
Ineffectiveness - amount of gain (loss) recognized in income on related hedged items	(191)	90	$ 206
Gain (loss) excluded from hedge effectiveness testing	$ (652)	$ (991)	$ 649

Derivative Financial Instrume65

Derivative Financial Instruments (Schedule of Notional Amounts of Outstanding Derivative Positions) (Details)	12 Months Ended
	Dec. 31, 2016T
Aluminum | Long
Derivative [Line Items]
Commodity contract (in MT/Lbs)	2,125
Aluminum | Short
Derivative [Line Items]
Commodity contract (in MT/Lbs)	2,925
Copper | Long
Derivative [Line Items]
Commodity contract (in MT/Lbs)	9,109
Copper | Short
Derivative [Line Items]
Commodity contract (in MT/Lbs)	13,745

Derivative Financial Instrume66

Derivative Financial Instruments (Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Commodity futures, asset derivatives	$ 4,060	$ 1,765
Commodity futures, liability derivatives	2,083	3,925
Futures | Commodity contract | Designated as hedging instrument | Other current assets
Commodity futures, asset derivatives	2,910	857
Commodity futures, liability derivatives	1,300	2,860
Futures | Commodity contract | Not designated as hedging instrument | Other current assets
Commodity futures, asset derivatives	1,150	908
Commodity futures, liability derivatives	$ 783	$ 1,065

Derivative Financial Instrume67

Derivative Financial Instruments (Schedule of Derivatives Instruments Statements of Financial Position) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Designated as hedging instrument
Amount of gain (loss) recognized in income on related hedged items	$ (4,439)	$ 3,353	$ (1,923)
Designated as hedging instrument | Firm commitments | Cost of goods sold
Amount of gain (loss) recognized in income on related hedged items	(3,901)	2,084	1,488
Designated as hedging instrument | Inventory | Cost of goods sold
Amount of gain (loss) recognized in income on related hedged items	(538)	1,269	(3,411)
Futures | Designated as hedging instrument | Commodity contract | Cost of goods sold
Amount of gain (loss) recognized in income on derivatives	3,596	(4,254)	2,778
Futures | Not designated as hedging instrument | Commodity contract | Cost of goods sold
Amount of gain (loss) recognized in income on derivatives	$ (8,450)	$ 16,261	$ 14,988

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets and liabilities subject to fair value measurements
Commodity futures - financial assets	$ 4,060	$ 1,765
Commodity futures - financial liabilities	2,083	3,925
Fair value of long-term debt, including current maturities	2,500,000	2,700,000
Outstanding Balance	2,356,826	2,594,656
Recurring | Commodity contract | Futures
Assets and liabilities subject to fair value measurements
Commodity futures - financial assets	4,060	1,765
Commodity futures - financial liabilities	2,083	3,925
Recurring | Fair Value, Inputs, Level 2 [Member] | Commodity contract | Futures
Assets and liabilities subject to fair value measurements
Commodity futures - financial assets	4,060	1,765
Commodity futures - financial liabilities	$ 2,083	$ 3,925

Commitments and Contingencies69

Commitments and Contingencies (Narrative) (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2016USD ($)	Dec. 31, 2016USD ($)claim
Commitments and Contingencie [Line Items]
Construction in Progress Expenditures Incurred but Not yet Paid		$ 53,000
Loss Contingency, Claims Settled, Number | claim		2
Direct Purchaser [Member]
Commitments and Contingencie [Line Items]
Litigation Settlement, Amount	$ 4,600
Indirect Purchaser [Member]
Commitments and Contingencie [Line Items]
Litigation Settlement, Amount		$ 990
Inventories [Member]
Commitments and Contingencie [Line Items]
Purchase Commitments Physical Commodity Requirements Utilization Period		3 years
Inventories [Member] | Maximum
Commitments and Contingencie [Line Items]
Purchase Commitments Commodity Transportation Requirements Period		4 years
Purchase Commitments Commodity Transportation Requirements Period For Products		12 years

Commitments and Contingencies70

Commitments and Contingencies (Schedule of Unconditional Purchase Obligations) (Details) - Inventories [Member] $ in Thousands	Dec. 31, 2016USD ($)
Unrecorded Unconditional Purchase Obligation [Line Items]
2,017	$ 122,965
2,018	39,684
2,019	38,426
2,020	37,919
2,021	23,515
Thereafter	97,301
Unrecorded Unconditional Purchase Obligation, Total	$ 359,810

Transactions with Affiliated 71

Transactions with Affiliated Companies (Schedule of Related Party Transactions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Sales	$ 169,929	$ 187,178	$ 274,385
Accounts receivable	26,219	34,272
Heidtman [Member]
Related Party Transaction [Line Items]
Sales	$ 142,624	$ 162,742	$ 234,608
Percentage of consolidated net sales	2.00%	2.00%	3.00%
Accounts receivable	$ 20,737	$ 30,627	$ 35,447
Purchases	9,017	11,429	7,639
Accounts payable	494	431	236
Other Smaller Affiliated Entities [Member]
Related Party Transaction [Line Items]
Sales	27,305	24,436	39,777
Accounts receivable	5,483	3,645	7,543
Purchases	165,091	178,102	279,177
Accounts payable	$ 12,576	$ 6,199	$ 21,029

Retirement Plans (Details)

Retirement Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Defined Contribution Plan, Cost Recognized	$ 64.7	$ 21	$ 39.4
Profit sharing component	$ 59.3	$ 17.7	$ 36.3
Percentage of employer's profit sharing contribution	8.00%	8.00%	8.00%
Employer's contribution to profit sharing plans for eligable employees	$ 47.5	$ 14.1	$ 29

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Leases [Abstract]
Payments for Rent	$ 15.1	$ 15.1	$ 16

Leases (Schedule of Future Mini

Leases (Schedule of Future Minimum Rental Payments for Operating Leases) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Leases [Abstract]
2,017	$ 15,499
2,018	12,620
2,019	10,079
2,020	7,564
2,021	4,341
Thereafter	9,371
Future Minimum Payments Due, Total	$ 59,474

Segment Information - Results (

Segment Information - Results (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information
Net sales	$ 1,910,596	$ 2,101,310	$ 2,023,902	$ 1,741,301	$ 1,591,046	$ 1,950,923	$ 2,005,007	$ 2,047,435	$ 7,777,109	$ 7,594,411	$ 8,755,952
Operating income (loss)	56,024	$ 283,855	$ 256,122	$ 131,965	(381,143)	$ 131,029	$ 77,559	$ 99,771	727,966	(72,784)	320,320
Income (loss) before income taxes									564,133	(242,117)	164,803
Depreciation and amortization									296,109	294,595	263,325
Capital expenditures									198,160	114,501	111,785
Assets	6,423,732				6,202,082				6,423,732	6,202,082
U.S.
Segment Reporting Information
Net sales									7,379,736	7,139,898	8,272,958
Non-U.S.
Segment Reporting Information
Net sales									397,373	454,513	482,994
Steel Operations
Segment Reporting Information
Net sales									5,870,924	5,422,475	5,821,578
Operating income (loss)									926,954	403,216	683,609
Income (loss) before income taxes									836,818	312,402	614,653
Depreciation and amortization									213,227	205,827	149,064
Capital expenditures									160,767	71,752	62,807
Assets	4,126,448				3,827,108				4,126,448	3,827,108
Steel Operations | Other segments
Segment Reporting Information
Net sales									236,213	218,963	279,835
Steel Operations | U.S.
Segment Reporting Information
Net sales									5,399,275	4,935,549	5,300,762
Steel Operations | Non-U.S.
Segment Reporting Information
Net sales									235,436	267,963	240,981
Metals Recycling Operations
Segment Reporting Information
Net sales									2,171,877	2,337,716	3,539,206
Operating income (loss)									20,423	(448,137)	26,014
Income (loss) before income taxes									8,378	(465,426)	5,670
Depreciation and amortization									56,483	65,640	75,242
Capital expenditures									29,443	21,874	22,223
Assets	1,038,946				1,067,672				1,038,946	1,067,672
Metals Recycling Operations | Other segments
Segment Reporting Information
Net sales									1,002,536	904,713	1,312,379
Metals Recycling Operations | U.S.
Segment Reporting Information
Net sales									1,007,781	1,249,061	1,985,927
Metals Recycling Operations | Non-U.S.
Segment Reporting Information
Net sales									161,560	183,942	240,900
Steel Fabrication Operations
Segment Reporting Information
Net sales									703,522	673,399	631,808
Operating income (loss)									90,955	115,947	51,894
Income (loss) before income taxes									82,776	108,795	45,376
Depreciation and amortization									10,952	9,587	9,712
Capital expenditures									3,123	3,395	3,027
Assets	340,902				341,276				340,902	341,276
Steel Fabrication Operations | Other segments
Segment Reporting Information
Net sales									2,481	25	58
Steel Fabrication Operations | U.S.
Segment Reporting Information
Net sales									700,852	671,323	631,750
Steel Fabrication Operations | Non-U.S.
Segment Reporting Information
Net sales									189	2,051
Other
Segment Reporting Information
Net sales									276,912	314,847	468,505
Operating income (loss)									(301,116)	(148,784)	(445,549)
Income (loss) before income taxes									(354,589)	(202,862)	(505,248)
Depreciation and amortization									15,652	13,746	29,512
Capital expenditures									4,827	17,480	23,728
Assets	1,054,448				1,050,506				1,054,448	1,050,506
Other | Other segments
Segment Reporting Information
Net sales									4,896	30,325	112,873
Other | U.S.
Segment Reporting Information
Net sales									271,828	283,965	354,519
Other | Non-U.S.
Segment Reporting Information
Net sales									188	557	1,113
Eliminations
Segment Reporting Information
Net sales									(1,246,126)	(1,154,026)	(1,705,145)
Operating income (loss)									(9,250)	4,974	4,352
Income (loss) before income taxes									(9,250)	4,974	4,352
Depreciation and amortization									(205)	(205)	(205)
Assets	$ (137,012)				$ (84,480)				(137,012)	(84,480)
Eliminations | Other segments
Segment Reporting Information
Net sales									$ (1,246,126)	$ (1,154,026)	$ (1,705,145)

Segment Information - Other Foo

Segment Information - Other Footnote (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating income (loss)
Corporate SG & A									$ (374,009)	$ (328,758)	$ (317,275)
Profit sharing									(71,285)	(23,064)	(42,126)
Asset impairment charges									132,839	428,500	260,000
Operating income (loss)	$ 56,024	$ 283,855	$ 256,122	$ 131,965	$ (381,143)	$ 131,029	$ 77,559	$ 99,771	727,966	(72,784)	320,320
Assets
Cash and equivalents	841,483				727,032				841,483	727,032	361,363	$ 395,156
Accounts receivable	729,784				613,605				729,784	613,605
Inventories	1,275,211				1,149,390				1,275,211	1,149,390
Property, plant and equipment, net	2,787,215				2,951,210				2,787,215	2,951,210
Other	29,514				36,501				29,514	36,501
Total assets	6,423,732				6,202,082				6,423,732	6,202,082
Minnesota Ironmaking Operations
Operating income (loss)
Asset impairment charges									127,300	428,500	260,000
Other
Operating income (loss)
Corporate SG & A									(48,900)	(37,800)	(43,200)
Company-wide equity-based compensation									(30,400)	(27,100)	(22,800)
Profit sharing									(66,400)	(17,700)	(36,800)
Other, net									(10,500)	(10,500)	(12,900)
Operating income (loss)									(301,116)	(148,784)	(445,549)
Assets
Cash and equivalents	775,700				641,900				775,700	641,900
Accounts receivable	2,000				18,800				2,000	18,800
Inventories	35,400				35,100				35,400	35,100
Income tax receivable	25,300								25,300
Property, plant and equipment, net	168,500				306,000				168,500	306,000
Intra-company debt	12,100				6,200				12,100	6,200
Other	35,400				42,500				35,400	42,500
Total assets	1,054,448				1,050,506				1,054,448	1,050,506
Business Combination, Acquisition Related Costs											25,200
Other | MINNESOTA | Minnesota Ironmaking Operations
Operating income (loss)
Asset impairment charges									(129,100)		(260,000)
Operating income (loss)									(15,800)	(55,700)	(69,800)
Metals Recycling Operations
Operating income (loss)
Operating income (loss)									20,423	(448,137)	$ 26,014
Assets
Total assets	$ 1,038,946				$ 1,067,672				1,038,946	$ 1,067,672
Goodwill, Impairment Loss									$ 5,500

Segment Information - Eliminati

Segment Information - Eliminations Footnote (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating income (loss)
Operating income (loss)	$ 56,024	$ 283,855	$ 256,122	$ 131,965	$ (381,143)	$ 131,029	$ 77,559	$ 99,771	$ 727,966	$ (72,784)	$ 320,320
Gross profit	309,942	$ 408,503	$ 380,383	$ 236,036	144,207	$ 228,726	$ 171,743	$ 187,042	1,334,864	731,718	966,211
Asset impairment charges									132,839	428,500	260,000
Assets elimination
Accounts receivable	729,784				613,605				729,784	613,605
Other	29,514				36,501				29,514	36,501
Total assets	6,423,732				6,202,082				6,423,732	6,202,082
Eliminations
Operating income (loss)
Operating income (loss)									(9,250)	4,974	$ 4,352
Gross profit									(11,100)
Asset impairment charges									1,800
Assets elimination
Accounts receivable	(112,300)				(74,900)				(112,300)	(74,900)
Elimination of intra-company debt	(12,100)				(6,200)				(12,100)	(6,200)
Other	(12,600)				(3,400)				(12,600)	(3,400)
Total assets	$ (137,012)				$ (84,480)				$ (137,012)	$ (84,480)

Condensed Consolidating Infor78

Condensed Consolidating Information - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Consolidating Balance Sheets
Cash and equivalents	$ 841,483	$ 727,032	$ 361,363	$ 395,156
Accounts receivable, net	729,784	613,605
Inventories	1,275,211	1,149,390
Other current assets	83,197	47,914
Total current assets	2,929,675	2,537,941
Property, plant and equipment, net	2,787,215	2,951,210
Intangible assets, net	283,977	278,960
Goodwill	393,351	397,470
Other assets, including investments in subs	29,514	36,501
Total assets	6,423,732	6,202,082
Accounts payable	395,196	283,355
Accrued expenses	313,987	235,255
Current maturities of long-term debt	3,632	16,680
Total current liabilities	712,815	535,290
Long-term debt	2,353,194	2,577,976
Other liabilities	469,024	417,365
Total liabilities	3,535,033	3,530,631
Redeemable noncontrolling interests	111,240	126,340
Common stock	641	638
Treasury stock	(416,829)	(396,455)
Additional paid-in capital	1,132,749	1,110,253
Retained earnings (deficit)	2,210,459	1,965,291
Total Steel Dynamics, Inc. equity	2,927,020	2,679,727
Noncontrolling interests	(149,561)	(134,616)
Total equity	2,777,459	2,545,111	2,795,527	2,495,855
Total liabilities and equity	6,423,732	6,202,082
Parent
Condensed Consolidating Balance Sheets
Cash and equivalents	766,685	636,877	265,313	320,866
Accounts receivable, net	229,148	200,094
Inventories	587,319	539,963
Other current assets	45,049	21,654
Total current assets	1,628,201	1,398,588
Property, plant and equipment, net	899,370	958,212
Other assets, including investments in subs	2,769,884	2,941,710
Total assets	5,297,455	5,298,510
Accounts payable	141,089	100,751
Accrued expenses	198,085	141,552
Current maturities of long-term debt	674	13,122
Total current liabilities	339,848	255,425
Long-term debt	2,324,298	2,546,606
Other liabilities	(293,711)	(183,248)
Total liabilities	2,370,435	2,618,783
Common stock	641	638
Treasury stock	(416,829)	(396,455)
Additional paid-in capital	1,132,749	1,110,253
Retained earnings (deficit)	2,210,459	1,965,291
Total Steel Dynamics, Inc. equity	2,927,020	2,679,727
Total equity	2,927,020	2,679,727
Total liabilities and equity	5,297,455	5,298,510
Guarantors
Condensed Consolidating Balance Sheets
Cash and equivalents	54,677	81,976	81,690	61,148
Accounts receivable, net	1,257,245	1,056,285
Inventories	639,148	573,924
Other current assets	36,062	25,415
Total current assets	1,987,132	1,737,600
Property, plant and equipment, net	1,679,751	1,703,932
Intangible assets, net	251,919	278,960
Goodwill	385,527	397,470
Other assets, including investments in subs	7,335	10,040
Total assets	4,311,664	4,128,002
Accounts payable	265,764	183,344
Accrued expenses	220,917	185,873
Current maturities of long-term debt	700	700
Total current liabilities	487,381	369,917
Long-term debt		361
Other liabilities	1,219,444	1,342,541
Total liabilities	1,706,825	1,712,819
Common stock	1,727,859	1,727,859
Additional paid-in capital	128,076	117,737
Retained earnings (deficit)	748,904	569,587
Total Steel Dynamics, Inc. equity	2,604,839	2,415,183
Total equity	2,604,839	2,415,183
Total liabilities and equity	4,311,664	4,128,002
Combined Non-Guarantors
Condensed Consolidating Balance Sheets
Cash and equivalents	20,121	8,179	$ 14,360	$ 13,142
Accounts receivable, net	23,689	29,775
Inventories	58,696	35,004
Other current assets	4,447	1,676
Total current assets	106,953	74,634
Property, plant and equipment, net	208,094	291,077
Intangible assets, net	32,058
Goodwill	7,824
Other assets, including investments in subs	5,832	6,137
Total assets	360,761	371,848
Accounts payable	89,659	68,948
Accrued expenses	8,793	4,779
Current maturities of long-term debt	29,347	24,975
Total current liabilities	127,799	98,702
Long-term debt	168,566	177,897
Other liabilities	42,482	63,020
Total liabilities	338,847	339,619
Redeemable noncontrolling interests	111,240	126,340
Common stock	14,908	18,120
Additional paid-in capital	779,678	646,787
Retained earnings (deficit)	(734,351)	(624,402)
Total Steel Dynamics, Inc. equity	60,235	40,505
Noncontrolling interests	(149,561)	(134,616)
Total equity	(89,326)	(94,111)
Total liabilities and equity	360,761	371,848
Consolidating Adjustments
Condensed Consolidating Balance Sheets
Accounts receivable, net	(780,298)	(672,549)
Inventories	(9,952)	499
Other current assets	(2,361)	(831)
Total current assets	(792,611)	(672,881)
Property, plant and equipment, net		(2,011)
Other assets, including investments in subs	(2,753,537)	(2,921,386)
Total assets	(3,546,148)	(3,596,278)
Accounts payable	(101,316)	(69,688)
Accrued expenses	(113,808)	(96,949)
Current maturities of long-term debt	(27,089)	(22,117)
Total current liabilities	(242,213)	(188,754)
Long-term debt	(139,670)	(146,888)
Other liabilities	(499,191)	(804,948)
Total liabilities	(881,074)	(1,140,590)
Common stock	(1,742,767)	(1,745,979)
Additional paid-in capital	(907,754)	(764,524)
Retained earnings (deficit)	(14,553)	54,815
Total Steel Dynamics, Inc. equity	(2,665,074)	(2,455,688)
Total equity	(2,665,074)	(2,455,688)
Total liabilities and equity	$ (3,546,148)	$ (3,596,278)

Condensed Consolidating Infor79

Condensed Consolidating Information - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Consolidating Statements of Operations
Net sales	$ 1,910,596	$ 2,101,310	$ 2,023,902	$ 1,741,301	$ 1,591,046	$ 1,950,923	$ 2,005,007	$ 2,047,435	$ 7,777,109	$ 7,594,411	$ 8,755,952
Costs of goods sold									6,442,245	6,862,693	7,789,741
Gross profit	309,942	408,503	380,383	236,036	144,207	228,726	171,743	187,042	1,334,864	731,718	966,211
Selling, general and administrative									474,059	376,002	385,891
Asset impairment charges									132,839	428,500	260,000
Operating income (loss)	56,024	283,855	256,122	131,965	(381,143)	131,029	77,559	99,771	727,966	(72,784)	320,320
Interest expense, net of capitalized interest									146,037	153,950	137,263
Other (income) expense, net									17,796	15,383	18,254
Income (loss) before income taxes									564,133	(242,117)	164,803
Income taxes (benefit)									204,127	(96,947)	73,153
Net income (loss)	3,832	154,413	140,443	61,318	(256,316)	58,867	25,325	26,954	360,006	(145,170)	91,650
Net loss attributable to noncontrolling interests									22,109	14,859	65,374
Net income (loss) attributable to Steel Dynamics, Inc.	$ 20,012	$ 157,397	$ 141,969	$ 62,737	$ (253,239)	$ 60,617	$ 31,550	$ 30,761	382,115	(130,311)	157,024
Parent
Condensed Consolidating Statements of Operations
Net sales									3,037,801	2,908,904	3,904,488
Costs of goods sold									2,428,863	2,515,621	3,305,269
Gross profit									608,938	393,283	599,219
Selling, general and administrative									196,442	128,929	149,374
Asset impairment charges									12,700
Operating income (loss)									399,796	264,354	449,845
Interest expense, net of capitalized interest									71,182	75,457	78,442
Other (income) expense, net									14,200	13,970	18,976
Income (loss) before income taxes									314,414	174,927	352,427
Income taxes (benefit)									69,454	(124,626)	14,064
Net income (loss)									244,960	299,553	338,363
Equity in net income of subsidiaries									137,155	(429,864)	(181,339)
Net income (loss) attributable to Steel Dynamics, Inc.									382,115	(130,311)	157,024
Guarantors
Condensed Consolidating Statements of Operations
Net sales									8,356,727	8,132,043	9,761,236
Costs of goods sold									7,522,791	7,646,411	9,212,977
Gross profit									833,936	485,632	548,259
Selling, general and administrative									281,071	254,106	241,163
Asset impairment charges									5,500	428,500
Operating income (loss)									547,365	(196,974)	307,096
Interest expense, net of capitalized interest									72,420	76,009	56,006
Other (income) expense, net									(5,363)	332	(23)
Income (loss) before income taxes									480,308	(273,315)	251,113
Income taxes (benefit)									180,990	61,571	96,315
Net income (loss)									299,318	(334,886)	154,798
Net income (loss) attributable to Steel Dynamics, Inc.									299,318	(334,886)	154,798
Combined Non-Guarantors
Condensed Consolidating Statements of Operations
Net sales									388,071	361,944	527,584
Costs of goods sold									390,313	420,281	598,428
Gross profit									(2,242)	(58,337)	(70,844)
Selling, general and administrative									16,103	11,893	13,503
Asset impairment charges									116,445		260,000
Operating income (loss)									(134,790)	(70,230)	(344,347)
Interest expense, net of capitalized interest									10,874	6,969	7,745
Other (income) expense, net									520	(3,404)	(5,629)
Income (loss) before income taxes									(146,184)	(73,795)	(346,463)
Income taxes (benefit)									(15,825)	(4,627)	(1,095)
Net income (loss)									(130,359)	(69,168)	(345,368)
Net loss attributable to noncontrolling interests									22,109	14,859	65,374
Net income (loss) attributable to Steel Dynamics, Inc.									(108,250)	(54,309)	(279,994)
Consolidating Adjustments
Condensed Consolidating Statements of Operations
Net sales									(4,005,490)	(3,808,480)	(5,437,356)
Costs of goods sold									(3,899,722)	(3,719,620)	(5,326,933)
Gross profit									(105,768)	(88,860)	(110,423)
Selling, general and administrative									(19,557)	(18,926)	(18,149)
Asset impairment charges									(1,806)
Operating income (loss)									(84,405)	(69,934)	(92,274)
Interest expense, net of capitalized interest									(8,439)	(4,485)	(4,930)
Other (income) expense, net									8,439	4,485	4,930
Income (loss) before income taxes									(84,405)	(69,934)	(92,274)
Income taxes (benefit)									(30,492)	(29,265)	(36,131)
Net income (loss)									(53,913)	(40,669)	(56,143)
Equity in net income of subsidiaries									(137,155)	429,864	181,339
Net income (loss) attributable to Steel Dynamics, Inc.									$ (191,068)	$ 389,195	$ 125,196

Condensed Consolidating Infor80

Condensed Consolidating Information - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Consolidating Statements of Cash Flows
Net cash provided by (used in) operating activities	$ 852,769	$ 1,053,625	$ 628,224
Net cash used in investing activities	(312,893)	(142,627)	(1,747,267)
Net cash provided by (used in) financing activities	(425,425)	(545,329)	1,085,250
Increase (decrease) in cash and equivalents	114,451	365,669	(33,793)
Cash and equivalents at beginning of period	727,032	361,363	395,156
Cash and equivalents at end of period	841,483	727,032	361,363
Parent
Condensed Consolidating Statements of Cash Flows
Net cash provided by (used in) operating activities	326,216	436,012	410,856
Net cash used in investing activities	(161,043)	(64,457)	(1,690,363)
Net cash provided by (used in) financing activities	(35,365)	9	1,223,954
Increase (decrease) in cash and equivalents	129,808	371,564	(55,553)
Cash and equivalents at beginning of period	636,877	265,313	320,866
Cash and equivalents at end of period	766,685	636,877	265,313
Guarantors
Condensed Consolidating Statements of Cash Flows
Net cash provided by (used in) operating activities	517,699	594,437	279,080
Net cash used in investing activities	(140,027)	(82,751)	(8,883)
Net cash provided by (used in) financing activities	(404,971)	(511,400)	(249,655)
Increase (decrease) in cash and equivalents	(27,299)	286	20,542
Cash and equivalents at beginning of period	81,976	81,690	61,148
Cash and equivalents at end of period	54,677	81,976	81,690
Combined Non-Guarantors
Condensed Consolidating Statements of Cash Flows
Net cash provided by (used in) operating activities	6,057	19,388	(38,666)
Net cash used in investing activities	(9,578)	(15,703)	(23,206)
Net cash provided by (used in) financing activities	15,463	(9,866)	63,090
Increase (decrease) in cash and equivalents	11,942	(6,181)	1,218
Cash and equivalents at beginning of period	8,179	14,360	13,142
Cash and equivalents at end of period	20,121	8,179	14,360
Consolidating Adjustments
Condensed Consolidating Statements of Cash Flows
Net cash provided by (used in) operating activities	2,797	3,788	(23,046)
Net cash used in investing activities	(2,245)	20,284	(24,815)
Net cash provided by (used in) financing activities	$ (552)	$ (24,072)	$ 47,861

Quarterly Financial Informati81

Quarterly Financial Information (Details) - USD ($)	1 Months Ended	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net sales		$ 1,910,596,000	$ 2,101,310,000	$ 2,023,902,000	$ 1,741,301,000	$ 1,591,046,000	$ 1,950,923,000	$ 2,005,007,000	$ 2,047,435,000	$ 7,777,109,000	$ 7,594,411,000	$ 8,755,952,000
Gross profit		309,942,000	408,503,000	380,383,000	236,036,000	144,207,000	228,726,000	171,743,000	187,042,000	1,334,864,000	731,718,000	966,211,000
Operating income (loss)		56,024,000	283,855,000	256,122,000	131,965,000	(381,143,000)	131,029,000	77,559,000	99,771,000	727,966,000	(72,784,000)	320,320,000
Net income (loss)		3,832,000	154,413,000	140,443,000	61,318,000	(256,316,000)	58,867,000	25,325,000	26,954,000	360,006,000	(145,170,000)	91,650,000
Net income (loss) attributable to Steel Dynamics, Inc.		$ 20,012,000	$ 157,397,000	$ 141,969,000	$ 62,737,000	$ (253,239,000)	$ 60,617,000	$ 31,550,000	$ 30,761,000	382,115,000	(130,311,000)	157,024,000
Impairment charges										$ 132,839,000	$ 428,500,000	$ 260,000,000
Earnings (loss) per share:
Basic (in dollars per share)		$ 0.08	$ 0.65	$ 0.58	$ 0.26	$ (1.04)	$ 0.25	$ 0.13	$ 0.13	$ 1.57	$ (0.54)	$ 0.68
Diluted (in dollars per share)		$ 0.08	$ 0.64	$ 0.58	$ 0.26	$ (1.04)	$ 0.25	$ 0.13	$ 0.13	$ 1.56	$ (0.54)	$ 0.67
Long Term Debt
Call and repayment of debt										$ 728,993,000	$ 625,924,000	$ 635,578,000
6 1/8% senior notes, due 2019
Long Term Debt
Call premiums and write off of deferred financing costs		$ 16,500,000
Call and repayment of debt	$ 266,300,000
Debt Instrument, Face Amount	$ 400,000,000	$ 400,000,000								$ 400,000,000
Stated interest rate	6.125%	6.125%								6.125%
Senior Notes 5.000 Percent Due 2026 [Member]
Long Term Debt
Debt Instrument, Face Amount	$ 400,000,000	$ 400,000,000								$ 400,000,000
Stated interest rate	5.00%	5.00%								5.00%
7 5/8% senior notes, due 2020
Long Term Debt
Call premiums and write off of deferred financing costs									$ 16,700,000
Call and repayment of debt									$ 350,000,000		$ 350,000,000,000
Stated interest rate						7.625%					7.625%
Senior term loan
Long Term Debt
Call and repayment of debt	$ 228,100,000	$ 228,100,000
Metals Recycling Operations
Net sales										$ 2,171,877,000	$ 2,337,716,000	3,539,206,000
Operating income (loss)										20,423,000	(448,137,000)	26,014,000
Parent
Net sales										3,037,801,000	2,908,904,000	3,904,488,000
Gross profit										608,938,000	393,283,000	599,219,000
Operating income (loss)										399,796,000	264,354,000	449,845,000
Net income (loss)										244,960,000	299,553,000	338,363,000
Net income (loss) attributable to Steel Dynamics, Inc.										382,115,000	(130,311,000)	157,024,000
Impairment charges										12,700,000
Minnesota Ironmaking Operations
Impairment charges										127,300,000	$ 428,500,000	260,000,000
Cost of goods sold | Minnesota Ironmaking Operations
Inventory lower-of-cost or market charge								$ 21,000,000
Operating Income (Loss) [Member] | Metals Recycling Operations
Impairment charges						$ 428,500,000
Operating Income (Loss) [Member] | Minnesota Ironmaking Operations
Impairment charges		132,800,000
Net Income (Loss) [Member] | Metals Recycling Operations
Impairment charges						$ 268,700,000
Net Income (Loss) [Member] | Minnesota Ironmaking Operations
Impairment charges		89,500,000
Net Income (Loss) Attributable to Parent [Member] | Minnesota Ironmaking Operations
Impairment charges		$ 76,400,000
Noncontrolling Interests | Minnesota Ironmaking Operations
Impairment charges										$ 13,100,000		$ 46,500,000
Noncontrolling Interests | Cost of goods sold | Minnesota Ironmaking Operations
Inventory lower-of-cost or market charge								$ 3,600,000