Nucor (NUE) 10-Q 9 Aug 23 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jul. 01, 2023 shares
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 01, 2023
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Trading Symbol	NUE
Entity Registrant Name	NUCOR CORPORATION
Entity Central Index Key	0000073309
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.40 per share
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	1-4119
Entity Tax Identification Number	13-1860817
Entity Address, Address Line One	1915 Rexford Road
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28211
City Area Code	704
Local Phone Number	366-7000
Entity Common Stock, Shares Outstanding	248,722,494

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Income Statement [Abstract]
Net sales	$ 9,523,256	$ 11,794,474	$ 18,233,236	$ 22,287,756
Costs, expenses and other:
Cost of products sold	7,021,582	7,690,211	13,733,360	14,725,354
Marketing, administrative and other expenses	453,388	563,211	843,283	1,087,795
Equity in earnings of unconsolidated affiliates	(6,094)	(7,113)	(4,754)	(14,808)
Interest expense, net	4,598	57,763	14,781	100,898
Costs, expenses and other, total	7,473,474	8,304,072	14,586,670	15,899,239
Earnings before income taxes and noncontrolling interests	2,049,782	3,490,402	3,646,566	6,388,517
Provision for income taxes	462,707	763,165	827,862	1,434,165
Net earnings before noncontrolling interests	1,587,075	2,727,237	2,818,704	4,954,352
Earnings attributable to noncontrolling interests	125,721	166,004	220,808	297,496
Net earnings attributable to Nucor stockholders	$ 1,461,354	$ 2,561,233	$ 2,597,896	$ 4,656,856
Net earnings per share:
Basic	$ 5.82	$ 9.69	$ 10.28	$ 17.34
Diluted	$ 5.81	$ 9.67	$ 10.26	$ 17.3
Average shares outstanding:
Basic	250,144	263,221	251,876	267,416
Diluted	250,524	263,719	252,334	268,066

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 01, 2023		Jul. 02, 2022		Jul. 01, 2023		Jul. 02, 2022
Statement Of Comprehensive Income [Abstract]
Net earnings before noncontrolling interests	$ 1,587,075		$ 2,727,237		$ 2,818,704		$ 4,954,352
Other comprehensive income (loss):
Net unrealized income (loss) on hedging derivatives, net of income taxes of $(1,400) and $5,100 for the second quarter of 2023 and 2022, respectively, and $(9,200) and $21,900 for the first six months of 2023 and 2022, respectively	(4,428)		16,138		(29,003)		69,614
Reclassification adjustment for settlement of hedging derivatives included in net earnings, net of income taxes of $1,900 and $(4,800) for the second quarter of 2023 and 2022, respectively, and $2,000 and $(6,500) for the first six months of 2023 and 2022, respectively	6,228	[1]	(15,136)	[2]	6,403	[1]	(20,526)	[2]
Foreign currency translation gain (loss), net of income taxes of $0 for the second quarter and first six months of 2023 and 2022	34,586		(27,308)		31,145		(4,616)
Net current-period other comprehensive income (loss)	36,386		(26,306)		8,545		44,472
Comprehensive income	1,623,461		2,700,931		2,827,249		4,998,824
Comprehensive income attributable to noncontrolling interests	125,721		166,004		220,808		297,496
Comprehensive income attributable to Nucor stockholders	$ 1,497,740		$ 2,534,927		$ 2,606,441		$ 4,701,328
[1] Includes $ 6,228 and $ 6,403 net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts in the second quarter and first six months of 2023, respectively. The tax impact of those reclassifications was $ 1,900 and $ 2,000 in the second quarter and first six months of 2023, respectively. Includes $( 15,136 ) and $( 20,526 ) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts in the second quarter and first six months of 2022, respectively. The tax impact of those reclassifications was $( 4,800 ) and $( 6,500 ) in the second quarter and first six months of 2022, respectively.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Statement Of Comprehensive Income [Abstract]
Net unrealized income (loss) on hedging derivatives, tax	$ (1,400)	$ 5,100	$ (9,200)	$ 21,900
Reclassification adjustment for settlement of hedging derivatives included in net income, tax effect	1,900	(4,800)	2,000	(6,500)
Foreign currency translation gain (loss), tax	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 4,510,563	$ 4,280,852
Short-term investments	870,475	576,946
Accounts receivable, net	3,874,933	3,591,030
Inventories, net	5,632,324	5,453,531
Other current assets	402,213	789,325
Total current assets	15,290,508	14,691,684
Property, plant and equipment, net	10,093,399	9,616,920
Restricted cash and cash equivalents	12,665	80,368
Goodwill	3,926,197	3,920,060
Other intangible assets, net	3,205,881	3,322,265
Other assets	851,266	847,913
Total assets	33,379,916	32,479,210
Current liabilities:
Short-term debt	33,339	49,081
Current portion of long-term debt and finance lease obligations	25,087	28,582
Accounts payable	1,855,502	1,649,523
Salaries, wages and related accruals	1,043,967	1,654,210
Accrued expenses and other current liabilities	1,046,279	948,348
Total current liabilities	4,004,174	4,329,744
Long-term debt and finance lease obligations due after one year	6,620,686	6,613,687
Deferred credits and other liabilities	1,814,128	1,965,873
Total liabilities	12,438,988	12,909,304
Commitments and contingencies
Nucor stockholders' equity:
Common stock	152,061	152,061
Additional paid-in capital	2,149,693	2,143,520
Retained earnings	27,095,661	24,754,873
Accumulated other comprehensive loss, net of income taxes	(128,972)	(137,517)
Treasury stock	(9,314,764)	(8,498,243)
Total Nucor stockholders' equity	19,953,679	18,414,694
Noncontrolling interests	987,249	1,155,212
Total equity	20,940,928	19,569,906
Total liabilities and equity	$ 33,379,916	$ 32,479,210

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022
Operating activities:
Net earnings before noncontrolling interests	$ 2,818,704	$ 4,954,352
Adjustments:
Depreciation	448,836	397,270
Amortization	117,231	87,267
Stock-based compensation	83,587	74,219
Deferred income taxes	(44,609)	(36,220)
Distributions from affiliates	18,621	2,287
Equity in earnings of unconsolidated affiliates	(4,754)	(14,808)
Changes in assets and liabilities (exclusive of acquisitions and dispositions):
Accounts receivable	(270,314)	(648,569)
Inventories	(174,437)	(157,976)
Accounts payable	242,071	198,062
Federal income taxes	396,341	33,441
Salaries, wages and related accruals	(573,993)	(252,758)
Other operating activities	70,313	97,174
Cash provided by operating activities	3,127,597	4,733,741
Investing activities:
Capital expenditures	(1,057,086)	(968,795)
Investment in and advances to affiliates	(35,078)	(227)
Disposition of plant and equipment	5,289	15,996
Acquisitions (net of cash acquired)		(3,465,866)
Purchases of investments	(701,639)	(330,278)
Proceeds from the sale of investments	408,854	219,996
Other investing activities		(7,096)
Cash used in investing activities	(1,379,660)	(4,536,270)
Financing activities:
Net change in short-term debt	(15,742)	(7,214)
Proceeds from issuance of long-term debt, net of discount		2,091,934
Repayment of long-term debt	(5,000)	(506,000)
Bond issuance costs		(13,138)
Proceeds from exercise of stock options	7,123	18,819
Payment of tax withholdings on certain stock-based compensation	(42,120)	(58,218)
Distributions to noncontrolling interests	(388,771)	(268,535)
Cash dividends	(259,894)	(272,038)
Acquisition of treasury stock	(876,698)	(1,707,893)
Proceeds from government incentives		125,000
Other financing activities	(8,296)	(17,059)
Cash used in financing activities	(1,589,398)	(614,342)
Effect of exchange rate changes on cash	3,469	(817)
Increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents	162,008	(417,688)
Cash and cash equivalents and restricted cash and cash equivalents - beginning of year	4,361,220	2,508,658
Cash and cash equivalents and restricted cash and cash equivalents - end of six months	4,523,228	2,090,970
Non-cash investing activity:
Change in accrued plant and equipment purchases	$ (36,580)	$ (23,583)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 1,461,354	$ 2,561,233	$ 2,597,896	$ 4,656,856

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jul. 01, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Interim Presentation

Basis of Interim Presentation	6 Months Ended
	Jul. 01, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Interim Presentation	1. Basis of Interim Presentation The information furnished in this Item 1 reflects all adjustments which are, in the opinion of management, necessary to make a fair statement of the results for the interim periods presented and are of a normal and recurring nature unless otherwise noted. The information furnished has not been audited; however, the December 31, 2022 condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. The unaudited condensed consolidated financial statements included in this Item 1 should be read in conjunction with the audited consolidated financial statements and the notes thereto included in Nucor’s Annual Report on Form 10-K for the year ended December 31, 2022 .

Inventories

Inventories	6 Months Ended
	Jul. 01, 2023
Inventory Disclosure [Abstract]
Inventories	2. Inventories Inventories consisted of approximately 36 % raw materials and supplies and 64 % finished and semi-finished products at July 1, 2023 ( 37 % and 63 %, respectively, at December 31, 2022 ). Nucor’s manufacturing process consists of a continuous, vertically integrated process from which products are sold to customers at various stages throughout the process. Since most steel products can be classified as either finished or semi-finished products, these two categories of inventory are combined.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jul. 01, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	3. Property, Plant and Equipment Property, plant and equipment is recorded net of accumulated depreciation of $ 11.52 billion at July 1, 2023 ($ 11.12 billion at December 31, 2022).

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jul. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	4. Goodwill and Other Intangible Assets The change in the net carrying amount of goodwill for the six months ended July 1, 2023 by segment was as follows (in thousands): Steel Mills Steel Products Raw Materials Total Balance at December 31, 2022 $ 675,186 $ 2,510,045 $ 734,829 $ 3,920,060 Acquisitions - ( 3,740 ) - ( 3,740 ) Translation - 9,877 - 9,877 Balance at July 1, 2023 $ 675,186 $ 2,516,182 $ 734,829 $ 3,926,197 Nucor completed its most recent annual goodwill impairment testing as of the first day of the fourth quarter of 2022 and concluded that as of such date there was no impairment of goodwill for any of its reporting units. The annual assessment performed in 2022 for one of the Company’s reporting units, Rebar Fabrication, used forward-looking projections in future cash flows. The fair value of this reporting unit exceeded its carrying value by approximately 34 % in the most recent assessment. If our assessment of the relevant facts and circumstances changes, including if the expected future performance of this reporting unit declines from the most recent assessment, non-cash impairment charges may be required. Total goodwill associated with the Rebar Fabrication reporting unit was $ 356.3 million as of July 1, 2023 ($ 347.6 million as of December 31, 2022 ). An impairment of goodwill may also lead us to record an impairment of other intangible assets. Total finite-lived intangible assets associated with the Rebar Fabrication reporting unit were $ 33.3 million as of July 1, 2023 ($ 36.3 million as of December 31, 2022). There have been no triggering events requiring an interim assessment for impairment of the Rebar Fabrication reporting unit since the most recent annual goodwill impairment testing date. Intangible assets with estimated useful lives of five to 25 years are amortized on a straight-line or accelerated basis and consisted of the following as of July 1, 2023 and December 31, 2022 (in thousands): July 1, 2023 December 31, 2022 Gross Amount Accumulated Gross Amount Accumulated Customer relationships $ 4,175,432 $ 1,191,801 $ 4,174,724 $ 1,087,834 Trademarks and trade names 364,245 153,691 364,106 142,363 Other 109,746 98,050 109,746 96,114 $ 4,649,423 $ 1,443,542 $ 4,648,576 $ 1,326,311 Intangible asset amortization expense in the second quarter of 2023 and 2022 was $ 58.4 million and $ 45.9 million, respectively, and $ 117.2 million and $ 87.3 million in the first six months of 2023 and 2022, respectively. Annual amortization expense is estimated to be $ 233.5 million in 2023 ; $ 233.4 million in 2024; $ 232.4 million in 2025; $ 229.4 million in 2026; and $ 225.1 million in 2027.

Current Liabilities

Current Liabilities	6 Months Ended
	Jul. 01, 2023
Payables and Accruals [Abstract]
Current Liabilities	5. Current Liabilities Book overdrafts, included in accounts payable in the condensed consolidated balance sheets, were $ 152.4 million at July 1, 2023 ($ 163.6 million at December 31, 2022 ). Dividends payable, included in accrued expenses and other current liabilities in the condensed consolidated balance sheets, were $ 127.7 million at July 1, 2023 ($ 130.5 million at December 31, 2022 ).

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 01, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair Value Measurements The following table summarizes information regarding Nucor’s financial assets and financial liabilities that were measured at fair value as of July 1, 2023 and December 31, 2022 (in thousands). Nucor does not have any non-financial assets or non-financial liabilities that are measured at fair value on a recurring basis. Fair Value Measurements at Reporting Date Using Description Carrying Quoted Prices Significant Significant As of July 1, 2023 Assets: Cash equivalents $ 3,980,583 $ 3,980,583 $ - $ - Short-term investments 870,475 870,475 - - Restricted cash and cash equivalents 12,665 12,665 - - Derivative contracts 7,263 - 7,263 - Total assets $ 4,870,986 $ 4,863,723 $ 7,263 $ - Liabilities: Derivative contracts $ ( 621 ) $ - $ ( 621 ) $ - As of December 31, 2022 Assets: Cash equivalents $ 3,182,631 $ 3,182,631 $ - $ - Short-term investments 576,946 576,946 - - Restricted cash and cash equivalents 80,368 80,368 - - Derivative contracts 34,400 - 34,400 - Total assets $ 3,874,345 $ 3,839,945 $ 34,400 $ - Liabilities: Derivative contracts $ ( 1,370 ) $ - $ ( 1,370 ) $ - Fair value measurements for Nucor’s cash equivalents, short-term investments and restricted cash and cash equivalents are classified under Level 1 because such measurements are based on quoted market prices in active markets for identical assets. Our short-term investments at July 1, 2023 consisted of certificates of deposit, commercial paper and corporate notes. Fair value measurements for Nucor’s derivatives, which are typically commodity or foreign exchange contracts, are classified under Level 2 because such measurements are based on published market prices for similar assets or are estimated based on observable inputs such as interest rates, yield curves, credit risks, spot and future commodity prices, and spot and future exchange rates. There were no transfers between the levels in the fair value hierarchy for the periods presented. The fair value of short-term and long-term debt, including current maturities, was approximately $ 5.96 billion at July 1, 2023 (approximately $ 5.93 billion at December 31, 2022). The debt fair value estimates are classified under Level 2 because such estimates are based on readily available market prices of our debt at July 1, 2023 and December 31, 2022 , or similar debt with the same maturities, ratings and interest rates.

Contingencies

Contingencies	6 Months Ended
	Jul. 01, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	7. Contingencies We are from time to time a party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of business. With respect to all such lawsuits, claims and proceedings, we record reserves when it is probable a liability has been incurred and the amount of loss can be reasonably estimated. We do not believe that any of these proceedings, individually or in the aggregate, would be expected to have a material adverse effect on our results of operations, financial position or cash flows. Nucor maintains liability insurance with self-insurance limits for certain risks.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jul. 01, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	8. Stock-Based Compensation Stock Options A summary of activity under Nucor’s stock option plans for the first six months of 2023 is as follows (shares and aggregate intrinsic value in thousands): Weighted- Weighted- Average Average Aggregate Exercise Remaining Intrinsic Shares Price Contractual Life Value Number of shares under stock options: Outstanding at beginning of year 837 $ 66.76 Granted 91 $ 133.03 Exercised ( 131 ) $ 54.49 $ 15,539 Canceled - $ - Outstanding at July 1, 2023 797 $ 76.32 7.5 years $ 69,890 Stock options exercisable at July 1, 2023 512 $ 49.84 6.7 years $ 58,494 For the 2023 stock option grant, the grant date fair value of $ 49.62 per share was calculated using the Black-Scholes options pricing model with the following assumptions: Exercise price $ 133.03 Expected dividend yield 1.53 % Expected stock price volatility 37.55 % Risk-free interest rate 3.66 % Expected life (in years) 6.5 Co mpensation expense for stock options was $ 3.4 million and $ 3.9 million in the second quarter of 2023 and 2022 , respectively, and $ 3.9 million and $ 4.4 million in the first six months of 2023 and 2022, respectively. As of July 1, 2023 , unrecognized compensation expense related to stock options was $ 2.8 million, which we expect to recognize over a weighted-average period of 2.2 years. Restricted Stock Units A summary of Nucor’s restricted stock unit (“RSU”) activity for the first six months of 2023 is as follows (shares in thousands): Shares Grant Date Restricted stock units: Unvested at beginning of year 1,003 $ 98.66 Granted 831 $ 133.03 Vested ( 863 ) $ 102.49 Canceled ( 10 ) $ 96.92 Unvested at July 1, 2023 961 $ 124.96 Compensation expense for RSUs was $ 48.5 million and $ 41.9 million in the second quarter of 2023 and 2022, respectively, and $ 60.7 million and $ 50.9 million in the first six months of 2023 and 2022, respectively. As of July 1, 2023 , unrecognized compensation expense related to unvested RSUs was $ 111.9 million, which we expect to recognize over a weighted-average period of 1.8 years. Restricted Stock Awards A summary of Nucor’s restricted stock activity under the Nucor Corporation Senior Officers Annual Incentive Plan (a supplement to the Nucor Corporation 2014 Omnibus Incentive Compensation Plan, the “AIP”) and the Nucor Corporation Senior Officers Long-Term Incentive Plan (a supplement to the Nucor Corporation 2014 Omnibus Incentive Compensation Plan, the “LTIP”) for the first six months of 2023 is as follows (shares in thousands): Grant Date Shares Fair Value Restricted stock units and restricted stock awards: Unvested at beginning of year 209 $ 108.55 Granted 414 $ 171.38 Vested ( 406 ) $ 152.68 Canceled ( 7 ) $ 171.38 Unvested at July 1, 2023 210 $ 144.98 Compensation expense for common stock and common stock units awarded under the AIP and the LTIP is recorded over the performance measurement and vesting periods based on the anticipated number and market value of shares of common stock and common stock units to be awarded. Compensation expense for anticipated awards based upon Nucor’s financial performance, exclusive of amounts payable in cash, was $ 11.7 million and $ 1.8 million in the second quarter of 2023 and 2022, respectively, and $ 19.4 million and $ 18.8 million in the first six months of 2023 and 2022, respectively. As of July 1, 2023 , unrecognized compensation expense related to unvested restricted stock awards was $ 10.7 million, which we expect to recognize over a weighted-average period of 2.0 years.

Employee Benefit Plan

Employee Benefit Plan	6 Months Ended
	Jul. 01, 2023
Retirement Benefits [Abstract]
Employee Benefit Plan	9. Employee Benefit Plan Nucor makes contributions to a Profit Sharing and Retirement Savings Plan for qualified employees based on the profitability of the Company. Nucor’s expense for these benefits totaled $ 194.4 m illion and $ 333.0 million in the second quarter of 2023 and 2022, respectively, and $ 356.6 million and $ 619.9 million in the first six months of 2023 and 2022, respectively. The related liability for these benefits is included in salaries, wages and related accruals in the condensed consolidated balance sheets.

Interest Expense (Income)

Interest Expense (Income)	6 Months Ended
	Jul. 01, 2023
Banking and Thrift, Interest [Abstract]
Interest Expense (Income)	10. Interest Expense (Income) The components of net interest expense for the second quarter and first six months of 2023 and 2022 are as follows (in thousands): Three Months (13 Weeks) Ended Six Months (26 Weeks) Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Interest expense $ 60,806 $ 63,514 $ 123,488 $ 107,590 Interest income ( 56,208 ) ( 5,751 ) ( 108,707 ) ( 6,692 ) Interest expense, net $ 4,598 $ 57,763 $ 14,781 $ 100,898

Income Taxes

Income Taxes	6 Months Ended
	Jul. 01, 2023
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The effective tax rate for the second quarter of 2023 was 22.6 % compared to 21.9 % for the second quarter of 2022. The Internal Revenue Service (the “IRS”) is currently examining Nucor’s 2015, 2019 and 2020 federal income tax returns. Nucor has concluded U.S. federal income tax matters for tax years through 2014, and for tax years 2016 and 2018. The tax years 2017 and 2021 remain open to examination by the IRS. The 2015 through 2021 Canadian income tax returns for Harris Steel Group Inc. and certain related affiliates are currently under examination by the Canada Revenue Agency. The tax years 2016 through 2022 remain open to examination by other major taxing jurisdictions to which Nucor is subject (primarily Canada and other state and local jurisdictions). Non-current deferred tax assets included in other assets in the condensed consolidated balance sheets were $ 10.6 million at July 1, 2023 ($ 19.3 million at December 31, 2022). Non-current deferred tax liabilities included in deferred credits and other liabilities in the condensed consolidated balance sheets were $ 1.24 billion at July 1, 2023 ($ 1.30 billion at December 31, 2022).

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jul. 01, 2023
Equity [Abstract]
Stockholders' Equity	12. Stockholders’ Equity The following tables reflect the changes in stockholders’ equity attributable to Nucor and the noncontrolling interests of Nucor’s joint ventures, Nucor-Yamato Steel Company (Limited Partnership) (“NYS”) and California Steel Industries, Inc. (“CSI”), in both of which Nucor owns 51 %, for the three months and six months ended July 1, 2023 and July 2, 2022 (in thousands): Three Months (13 Weeks) Ended July 1, 2023 Accumulated Total Additional Other Treasury Stock Nucor Common Stock Paid-in Retained Comprehensive (at cost) Stockholders' Noncontrolling Total Shares Amount Capital Earnings Income (Loss) Shares Amount Equity Interests BALANCES, April 1, 2023 $ 19,929,870 380,154 $ 152,061 $ 2,168,770 $ 25,762,032 $ ( 165,358 ) 128,930 $ ( 8,900,124 ) $ 19,017,381 $ 912,489 Net earnings before noncontrolling interests 1,587,075 - - - 1,461,354 - - - 1,461,354 125,721 Other comprehensive income (loss) 36,386 - - - - 36,386 - - 36,386 - Stock options exercised - - - - - - - - - Stock option expense 3,447 - - 3,447 - - - - 3,447 - Issuance of stock under award plans, 16,149 - - ( 24,025 ) - - ( 566 ) 40,174 16,149 - Amortization of unearned 1,501 - - 1,501 - - - - 1,501 - Treasury stock acquired ( 454,814 ) - - - - - 3,067 ( 454,814 ) ( 454,814 ) - Cash dividends declared ( 127,725 ) - - - ( 127,725 ) - - - ( 127,725 ) - Distributions to noncontrolling ( 50,961 ) - - - - - - - - ( 50,961 ) BALANCES, July 1, 2023 $ 20,940,928 380,154 $ 152,061 $ 2,149,693 $ 27,095,661 $ ( 128,972 ) 131,431 $ ( 9,314,764 ) $ 19,953,679 $ 987,249 Six Months (26 Weeks) Ended July 1, 2023 Accumulated Total Additional Other Treasury Stock Nucor Common Stock Paid-in Retained Comprehensive (at cost) Stockholders' Noncontrolling Total Shares Amount Capital Earnings Income (Loss) Shares Amount Equity Interests BALANCES, December 31, 2022 $ 19,569,906 380,154 $ 152,061 $ 2,143,520 $ 24,754,873 $ ( 137,517 ) 126,661 $ ( 8,498,243 ) $ 18,414,694 $ 1,155,212 Net earnings before noncontrolling interests 2,818,704 - - - 2,597,896 - - - 2,597,896 220,808 Other comprehensive income (loss) 8,545 - - - - 8,545 - - 8,545 - Stock options exercised 7,123 - - ( 1,749 ) - - ( 131 ) 8,872 7,123 - Stock option expense 3,922 - - 3,922 - - - - 3,922 - Issuance of stock under award plans, 59,969 - - 735 - - ( 889 ) 59,234 59,969 - Amortization of unearned 3,265 - - 3,265 - - - - 3,265 - Treasury stock acquired ( 884,627 ) - - - - - 5,790 ( 884,627 ) ( 884,627 ) - Cash dividends declared ( 257,108 ) - - - ( 257,108 ) - - - ( 257,108 ) - Distributions to noncontrolling ( 388,771 ) - - - - - - - - ( 388,771 ) BALANCES, July 1, 2023 $ 20,940,928 380,154 $ 152,061 $ 2,149,693 $ 27,095,661 $ ( 128,972 ) 131,431 $ ( 9,314,764 ) $ 19,953,679 $ 987,249 Three Months (13 Weeks) Ended July 2, 2022 Accumulated Total Additional Other Treasury Stock Nucor Common Stock Paid-in Retained Comprehensive (at cost) Stockholders' Noncontrolling Total Shares Amount Capital Earnings Income (Loss) Shares Amount Equity Interests BALANCES, April 2, 2022 $ 16,143,120 380,154 $ 152,061 $ 2,163,129 $ 19,635,277 $ ( 44,504 ) 114,092 $ ( 6,701,401 ) $ 15,204,562 $ 938,558 Net earnings before noncontrolling interests 2,727,237 - - - 2,561,233 - - - 2,561,233 166,004 Other comprehensive income (loss) ( 26,306 ) - - - - ( 26,306 ) - - ( 26,306 ) - Stock options exercised 2,233 - - ( 802 ) - - ( 49 ) 3,035 2,233 - Stock option expense 3,964 - - 3,964 - - - - 3,964 - Issuance of stock under award plans, ( 3,546 ) - - ( 52,313 ) - - ( 775 ) 48,767 ( 3,546 ) - Amortization of unearned 1,200 - - 1,200 - - - - 1,200 - Treasury stock acquired ( 802,569 ) - - - - - 5,100 ( 802,569 ) ( 802,569 ) - Cash dividends declared ( 132,127 ) - - - ( 132,127 ) - - - ( 132,127 ) - Distributions to noncontrolling ( 56,977 ) - - - - - - - - ( 56,977 ) Acquisition of noncontrolling interest in CSI ( 3,421 ) - - - - - - - - ( 3,421 ) BALANCES, July 2, 2022 $ 17,852,808 380,154 $ 152,061 $ 2,115,178 $ 22,064,383 $ ( 70,810 ) 118,368 $ ( 7,452,168 ) $ 16,808,644 $ 1,044,164 Six Months (26 Weeks) Ended July 2, 2022 Accumulated Total Additional Other Treasury Stock Nucor Common Stock Paid-in Retained Comprehensive (at cost) Stockholders' Noncontrolling Total Shares Amount Capital Earnings Income (Loss) Shares Amount Equity Interests BALANCES, December 31, 2021 $ 14,603,794 380,154 $ 152,061 $ 2,140,608 $ 17,674,100 $ ( 115,282 ) 107,742 $ ( 5,835,098 ) $ 14,016,389 $ 587,405 Net earnings before noncontrolling interests 4,954,352 - - - 4,656,856 - - - 4,656,856 297,496 Other comprehensive income (loss) 44,472 - - - - 44,472 - - 44,472 - Stock options exercised 18,819 - - ( 1,309 ) - - ( 359 ) 20,128 18,819 - Stock option expense 4,422 - - 4,422 - - - - 4,422 - Issuance of stock under award plans, 39,552 - - ( 31,143 ) - - ( 1,163 ) 70,695 39,552 - Amortization of unearned 2,600 - - 2,600 - - - - 2,600 - Treasury stock acquired ( 1,707,893 ) - - - - - 12,148 ( 1,707,893 ) ( 1,707,893 ) - Cash dividends declared ( 266,573 ) - - - ( 266,573 ) - - - ( 266,573 ) - Distributions to noncontrolling ( 268,535 ) - - - - - - - - ( 268,535 ) Acquisition of noncontrolling interest in CSI 427,798 - - - - - - - - 427,798 BALANCES, July 2, 2022 $ 17,852,808 380,154 $ 152,061 $ 2,115,178 $ 22,064,383 $ ( 70,810 ) 118,368 $ ( 7,452,168 ) $ 16,808,644 $ 1,044,164 Dividends declared per share were $ 0.51 per share in the second quarter of 2023 ($ 0.50 per share in the second quarter of 2022 ) and $ 1.02 per share in the first six months of 2023 ($ 1.00 per share in the first six months of 2022). On May 11, 2023, the Company announced that its Board of Directors had approved a new share repurchase program under which the Company is authorized to repurchase up to $ 4.00 billion of the Company’s common stock and terminated all previously authorized share repurchase programs. Share repurchases will be made from time to time in the open market at prevailing market prices or through private transactions or block trades. The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements and other factors. The share repurchase authorization is discretionary and has no expiration date. As of July 1, 2023 , the Company had $ 4.00 billion available for share repurchases under the program authorized by the Company’s Board of Directors.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jul. 01, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	3. Accumulated Other Comprehensive Income (Loss) The following tables reflect the changes in accumulated other comprehensive income (loss) by component for the three months and six months ended July 1, 2023 and July 2, 2022 (in thousands): Three-Month (13-Week) Period Ended July 1, 2023 Gains and (Losses) on Foreign Currency Adjustment to Early Hedging Derivatives Gains (Losses) Retiree Medical Plan Total Accumulated other comprehensive $ 1,700 $ ( 183,657 ) $ 16,599 $ ( 165,358 ) Other comprehensive income ( 4,428 ) 34,586 - 30,158 Amounts reclassified from (1) 6,228 - - 6,228 Net current-period other 1,800 34,586 - 36,386 Accumulated other comprehensive $ 3,500 $ ( 149,071 ) $ 16,599 $ ( 128,972 ) Six-Month (26-Week) Period Ended July 1, 2023 Gains and (Losses) on Foreign Currency Adjustment to Early Hedging Derivatives Gains (Losses) Retiree Medical Plan Total Accumulated other comprehensive $ 26,100 $ ( 180,216 ) $ 16,599 $ ( 137,517 ) Other comprehensive income ( 29,003 ) 31,145 - 2,142 Amounts reclassified from (1) 6,403 - - 6,403 Net current-period other ( 22,600 ) 31,145 - 8,545 Accumulated other comprehensive $ 3,500 $ ( 149,071 ) $ 16,599 $ ( 128,972 ) (1) Includes $ 6,228 and $ 6,403 net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts in the second quarter and first six months of 2023, respectively. The tax impact of those reclassifications was $ 1,900 and $ 2,000 in the second quarter and first six months of 2023, respectively. Three-Month (13-Week) Period Ended July 2, 2022 Gains and (Losses) on Foreign Currency Adjustment to Early Hedging Derivatives Gains (Losses) Retiree Medical Plan Total Accumulated other comprehensive $ 49,198 $ ( 102,176 ) $ 8,474 $ ( 44,504 ) Other comprehensive income (loss) 16,138 ( 27,308 ) - ( 11,170 ) Amounts reclassified from (2) ( 15,136 ) - - ( 15,136 ) Net current-period other 1,002 ( 27,308 ) - ( 26,306 ) Accumulated other comprehensive $ 50,200 $ ( 129,484 ) $ 8,474 $ ( 70,810 ) Six-Month (26-Week) Period Ended July 2, 2022 Gains and (Losses) on Foreign Currency Adjustment to Early Hedging Derivatives Gains (Losses) Retiree Medical Plan Total Accumulated other comprehensive $ 1,112 $ ( 124,868 ) $ 8,474 $ ( 115,282 ) Other comprehensive income (loss) 69,614 ( 4,616 ) - 64,998 Amounts reclassified from (2) ( 20,526 ) - - ( 20,526 ) Net current-period other 49,088 ( 4,616 ) - 44,472 Accumulated other comprehensive $ 50,200 $ ( 129,484 ) $ 8,474 $ ( 70,810 ) Includes $( 15,136 ) and $( 20,526 ) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts in the second quarter and first six months of 2022, respectively. The tax impact of those reclassifications was $( 4,800 ) and $( 6,500 ) in the second quarter and first six months of 2022, respectively.

Segments

Segments	6 Months Ended
	Jul. 01, 2023
Segment Reporting [Abstract]
Segments	14. Segments Nucor reports its results in the following segments: steel mills, steel products and raw materials. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading and rebar distribution businesses; and Nucor’s equity method investments in NuMit LLC (“NuMit”) and Nucor-JFE Steel Mexico, S. de R.L. de C.V. ("NJSM"). The steel products segment includes steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, precision castings, steel fasteners, metal building systems, insulated metal panels, overhead doors, steel grating, tubular products, steel racking, piling products, wire and wire mesh, and utility towers and structures. The raw materials segment includes The David J. Joseph Company and its affiliates (“DJJ”), primarily a scrap broker and processor; Nu-Iron Unlimited and Nucor Steel Louisiana LLC (“Nucor Steel Louisiana”), two facilities that produce direct reduced iron (“DRI”) used by the steel mills; and our natural gas production operations. Corporate/eliminations include items such as net interest expense on long-term debt, charges and credits associated with changes in allowances to eliminate intercompany profit in inventory, profit sharing expense and stock-based compensation. Corporate assets primarily include cash and cash equivalents, short-term investments, restricted cash and cash equivalents, allowances to eliminate intercompany profit in inventory, deferred income tax assets, federal and state income taxes receivable and investments in and advances to affiliates. Nucor’s results by segment for the second quarter and first six months of 2023 and 2022 were as follows (in thousands): Three Months (13 Weeks) Ended Six Months (26 Weeks) Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Net sales to external customers: Steel mills $ 5,565,772 $ 7,256,067 $ 10,545,029 $ 13,774,676 Steel products 3,442,862 3,842,948 6,718,859 7,166,036 Raw materials 514,622 695,459 969,348 1,347,044 $ 9,523,256 $ 11,794,474 $ 18,233,236 $ 22,287,756 Intercompany sales: Steel mills $ 1,361,066 $ 1,763,563 $ 2,524,698 $ 3,356,821 Steel products 100,257 117,289 200,618 251,995 Raw materials 3,588,629 4,145,690 6,759,521 7,692,209 Corporate/eliminations ( 5,049,952 ) ( 6,026,542 ) ( 9,484,837 ) ( 11,301,025 ) $ - $ - $ - $ - Earnings before income taxes and Steel mills $ 1,403,547 $ 2,815,723 $ 2,241,935 $ 5,394,577 Steel products 1,010,789 1,129,932 1,981,591 1,814,799 Raw materials 138,411 263,598 196,551 359,451 Corporate/eliminations ( 502,965 ) ( 718,851 ) ( 773,511 ) ( 1,180,310 ) $ 2,049,782 $ 3,490,402 $ 3,646,566 $ 6,388,517 July 1, 2023 Dec. 31, 2022 Segment assets: Steel mills $ 14,828,076 $ 14,157,229 Steel products 11,487,936 12,087,145 Raw materials 3,292,148 3,383,114 Corporate/eliminations 3,771,756 2,851,722 $ 33,379,916 $ 32,479,210

Revenue

Revenue	6 Months Ended
	Jul. 01, 2023
Revenue from Contract with Customer [Abstract]
Revenue	15. Revenue The following tables disaggregate our revenue by major source for the second quarter and first six months of 2023 and 2022 (in thousands): Three Months (13 Weeks) Ended July 1, 2023 Six Months (26 Weeks) Ended July 1, 2023 Steel Steel Raw Total Steel Steel Raw Total Sheet $ 2,645,817 $ - $ - $ 2,645,817 $ 4,748,511 $ - $ - $ 4,748,511 Bar 1,599,724 - - 1,599,724 3,197,852 - - 3,197,852 Structural 581,952 - - 581,952 1,220,259 - - 1,220,259 Plate 738,279 - - 738,279 1,378,407 - - 1,378,407 Tubular Products - 436,551 - 436,551 - 875,534 - 875,534 Rebar Fabrication - 615,814 - 615,814 - 1,113,931 - 1,113,931 Joist - 638,975 - 638,975 - 1,274,791 - 1,274,791 Deck - 473,775 - 473,775 - 959,218 - 959,218 Other Steel Products - 1,277,747 - 1,277,747 - 2,495,385 - 2,495,385 Raw Materials - - 514,622 514,622 - - 969,348 969,348 $ 5,565,772 $ 3,442,862 $ 514,622 $ 9,523,256 $ 10,545,029 $ 6,718,859 $ 969,348 $ 18,233,236 Three Months (13 Weeks) Ended July 2, 2022 Six Months (26 Weeks) Ended July 2, 2022 Steel Steel Raw Total Steel Steel Raw Total Sheet $ 3,616,333 $ - $ - $ 3,616,333 $ 6,799,396 $ - $ - $ 6,799,396 Bar 1,992,463 - - 1,992,463 3,820,194 - - 3,820,194 Structural 783,121 - - 783,121 1,566,392 - - 1,566,392 Plate 864,150 - - 864,150 1,588,694 - - 1,588,694 Tubular Products - 613,238 - 613,238 - 1,124,391 - 1,124,391 Rebar Fabrication - 579,000 - 579,000 - 1,024,232 - 1,024,232 Joist - 687,882 - 687,882 - 1,300,117 - 1,300,117 Deck - 582,414 - 582,414 - 1,133,323 - 1,133,323 Other Steel Products - 1,380,414 - 1,380,414 - 2,583,973 - 2,583,973 Raw Materials - - 695,459 695,459 - - 1,347,044 1,347,044 $ 7,256,067 $ 3,842,948 $ 695,459 $ 11,794,474 $ 13,774,676 $ 7,166,036 $ 1,347,044 $ 22,287,756 Contract liabilities are primarily related to deferred revenue resulting from cash payments received in advance from customers to protect against credit risk. Contract liabilities totaled $ 350.5 million as of July 1, 2023 ($ 285.0 million as of December 31, 2022) and are included in accrued expenses and other current liabilities in the condensed consolidated balance sheets.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 01, 2023
Earnings Per Share [Abstract]
Earnings Per Share	16. Earnings Per Share The computations of basic and diluted net earnings per share for the second quarter and first six months of 2023 and 2022 are as follows (in thousands, except per share amounts): Three Months (13 Weeks) Ended Six Months (26 Weeks) Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Basic net earnings per share: Basic net earnings $ 1,461,354 $ 2,561,233 $ 2,597,896 $ 4,656,856 Earnings allocated to participating securities ( 6,029 ) ( 11,041 ) ( 9,251 ) ( 19,380 ) Net earnings available to common $ 1,455,325 $ 2,550,192 $ 2,588,645 $ 4,637,476 Basic average shares outstanding 250,144 263,221 251,876 267,416 Basic net earnings per share $ 5.82 $ 9.69 $ 10.28 $ 17.34 Diluted net earnings per share: Diluted net earnings $ 1,461,354 $ 2,561,233 $ 2,597,896 $ 4,656,856 Earnings allocated to participating securities ( 6,013 ) ( 10,997 ) ( 9,223 ) ( 19,302 ) Net earnings available to common $ 1,455,341 $ 2,550,236 $ 2,588,673 $ 4,637,554 Diluted average shares outstanding: Basic average shares outstanding 250,144 263,221 251,876 267,416 Dilutive effect of stock options and other 380 498 458 650 250,524 263,719 252,334 268,066 Diluted net earnings per share $ 5.81 $ 9.67 $ 10.26 $ 17.30 The number of shares that were not included in the diluted net earnings per share calculation, because to do so would have been anti-dilutive, was immaterial for all periods presented.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jul. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Change in Net Carrying Amount of Goodwill by Segment	The change in the net carrying amount of goodwill for the six months ended July 1, 2023 by segment was as follows (in thousands): Steel Mills Steel Products Raw Materials Total Balance at December 31, 2022 $ 675,186 $ 2,510,045 $ 734,829 $ 3,920,060 Acquisitions - ( 3,740 ) - ( 3,740 ) Translation - 9,877 - 9,877 Balance at July 1, 2023 $ 675,186 $ 2,516,182 $ 734,829 $ 3,926,197
Schedule of Intangible Assets	Intangible assets with estimated useful lives of five to 25 years are amortized on a straight-line or accelerated basis and consisted of the following as of July 1, 2023 and December 31, 2022 (in thousands): July 1, 2023 December 31, 2022 Gross Amount Accumulated Gross Amount Accumulated Customer relationships $ 4,175,432 $ 1,191,801 $ 4,174,724 $ 1,087,834 Trademarks and trade names 364,245 153,691 364,106 142,363 Other 109,746 98,050 109,746 96,114 $ 4,649,423 $ 1,443,542 $ 4,648,576 $ 1,326,311

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 01, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value	The following table summarizes information regarding Nucor’s financial assets and financial liabilities that were measured at fair value as of July 1, 2023 and December 31, 2022 (in thousands). Nucor does not have any non-financial assets or non-financial liabilities that are measured at fair value on a recurring basis. Fair Value Measurements at Reporting Date Using Description Carrying Quoted Prices Significant Significant As of July 1, 2023 Assets: Cash equivalents $ 3,980,583 $ 3,980,583 $ - $ - Short-term investments 870,475 870,475 - - Restricted cash and cash equivalents 12,665 12,665 - - Derivative contracts 7,263 - 7,263 - Total assets $ 4,870,986 $ 4,863,723 $ 7,263 $ - Liabilities: Derivative contracts $ ( 621 ) $ - $ ( 621 ) $ - As of December 31, 2022 Assets: Cash equivalents $ 3,182,631 $ 3,182,631 $ - $ - Short-term investments 576,946 576,946 - - Restricted cash and cash equivalents 80,368 80,368 - - Derivative contracts 34,400 - 34,400 - Total assets $ 3,874,345 $ 3,839,945 $ 34,400 $ - Liabilities: Derivative contracts $ ( 1,370 ) $ - $ ( 1,370 ) $ -

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jul. 01, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Plans Activity	A summary of activity under Nucor’s stock option plans for the first six months of 2023 is as follows (shares and aggregate intrinsic value in thousands): Weighted- Weighted- Average Average Aggregate Exercise Remaining Intrinsic Shares Price Contractual Life Value Number of shares under stock options: Outstanding at beginning of year 837 $ 66.76 Granted 91 $ 133.03 Exercised ( 131 ) $ 54.49 $ 15,539 Canceled - $ - Outstanding at July 1, 2023 797 $ 76.32 7.5 years $ 69,890 Stock options exercisable at July 1, 2023 512 $ 49.84 6.7 years $ 58,494
Schedule of Grant Date Fair Value Black-Scholes Options-Pricing Model Assumptions	For the 2023 stock option grant, the grant date fair value of $ 49.62 per share was calculated using the Black-Scholes options pricing model with the following assumptions: Exercise price $ 133.03 Expected dividend yield 1.53 % Expected stock price volatility 37.55 % Risk-free interest rate 3.66 % Expected life (in years) 6.5
Summary of Nucor's Restricted Stock Unit ("RSU") Activity	A summary of Nucor’s restricted stock unit (“RSU”) activity for the first six months of 2023 is as follows (shares in thousands): Shares Grant Date Restricted stock units: Unvested at beginning of year 1,003 $ 98.66 Granted 831 $ 133.03 Vested ( 863 ) $ 102.49 Canceled ( 10 ) $ 96.92 Unvested at July 1, 2023 961 $ 124.96
Summary of Nucor's Restricted Stock Activity under AIP and LTIP	A summary of Nucor’s restricted stock activity under the Nucor Corporation Senior Officers Annual Incentive Plan (a supplement to the Nucor Corporation 2014 Omnibus Incentive Compensation Plan, the “AIP”) and the Nucor Corporation Senior Officers Long-Term Incentive Plan (a supplement to the Nucor Corporation 2014 Omnibus Incentive Compensation Plan, the “LTIP”) for the first six months of 2023 is as follows (shares in thousands): Grant Date Shares Fair Value Restricted stock units and restricted stock awards: Unvested at beginning of year 209 $ 108.55 Granted 414 $ 171.38 Vested ( 406 ) $ 152.68 Canceled ( 7 ) $ 171.38 Unvested at July 1, 2023 210 $ 144.98

Interest Expense (Income) (Tabl

Interest Expense (Income) (Tables)	6 Months Ended
	Jul. 01, 2023
Banking and Thrift, Interest [Abstract]
Schedule of Components of Net Interest Expense	The components of net interest expense for the second quarter and first six months of 2023 and 2022 are as follows (in thousands): Three Months (13 Weeks) Ended Six Months (26 Weeks) Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Interest expense $ 60,806 $ 63,514 $ 123,488 $ 107,590 Interest income ( 56,208 ) ( 5,751 ) ( 108,707 ) ( 6,692 ) Interest expense, net $ 4,598 $ 57,763 $ 14,781 $ 100,898

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jul. 01, 2023
Equity [Abstract]
Schedule Of Changes In Stock Holders Equity	The following tables reflect the changes in stockholders’ equity attributable to Nucor and the noncontrolling interests of Nucor’s joint ventures, Nucor-Yamato Steel Company (Limited Partnership) (“NYS”) and California Steel Industries, Inc. (“CSI”), in both of which Nucor owns 51 %, for the three months and six months ended July 1, 2023 and July 2, 2022 (in thousands): Three Months (13 Weeks) Ended July 1, 2023 Accumulated Total Additional Other Treasury Stock Nucor Common Stock Paid-in Retained Comprehensive (at cost) Stockholders' Noncontrolling Total Shares Amount Capital Earnings Income (Loss) Shares Amount Equity Interests BALANCES, April 1, 2023 $ 19,929,870 380,154 $ 152,061 $ 2,168,770 $ 25,762,032 $ ( 165,358 ) 128,930 $ ( 8,900,124 ) $ 19,017,381 $ 912,489 Net earnings before noncontrolling interests 1,587,075 - - - 1,461,354 - - - 1,461,354 125,721 Other comprehensive income (loss) 36,386 - - - - 36,386 - - 36,386 - Stock options exercised - - - - - - - - - Stock option expense 3,447 - - 3,447 - - - - 3,447 - Issuance of stock under award plans, 16,149 - - ( 24,025 ) - - ( 566 ) 40,174 16,149 - Amortization of unearned 1,501 - - 1,501 - - - - 1,501 - Treasury stock acquired ( 454,814 ) - - - - - 3,067 ( 454,814 ) ( 454,814 ) - Cash dividends declared ( 127,725 ) - - - ( 127,725 ) - - - ( 127,725 ) - Distributions to noncontrolling ( 50,961 ) - - - - - - - - ( 50,961 ) BALANCES, July 1, 2023 $ 20,940,928 380,154 $ 152,061 $ 2,149,693 $ 27,095,661 $ ( 128,972 ) 131,431 $ ( 9,314,764 ) $ 19,953,679 $ 987,249 Six Months (26 Weeks) Ended July 1, 2023 Accumulated Total Additional Other Treasury Stock Nucor Common Stock Paid-in Retained Comprehensive (at cost) Stockholders' Noncontrolling Total Shares Amount Capital Earnings Income (Loss) Shares Amount Equity Interests BALANCES, December 31, 2022 $ 19,569,906 380,154 $ 152,061 $ 2,143,520 $ 24,754,873 $ ( 137,517 ) 126,661 $ ( 8,498,243 ) $ 18,414,694 $ 1,155,212 Net earnings before noncontrolling interests 2,818,704 - - - 2,597,896 - - - 2,597,896 220,808 Other comprehensive income (loss) 8,545 - - - - 8,545 - - 8,545 - Stock options exercised 7,123 - - ( 1,749 ) - - ( 131 ) 8,872 7,123 - Stock option expense 3,922 - - 3,922 - - - - 3,922 - Issuance of stock under award plans, 59,969 - - 735 - - ( 889 ) 59,234 59,969 - Amortization of unearned 3,265 - - 3,265 - - - - 3,265 - Treasury stock acquired ( 884,627 ) - - - - - 5,790 ( 884,627 ) ( 884,627 ) - Cash dividends declared ( 257,108 ) - - - ( 257,108 ) - - - ( 257,108 ) - Distributions to noncontrolling ( 388,771 ) - - - - - - - - ( 388,771 ) BALANCES, July 1, 2023 $ 20,940,928 380,154 $ 152,061 $ 2,149,693 $ 27,095,661 $ ( 128,972 ) 131,431 $ ( 9,314,764 ) $ 19,953,679 $ 987,249 Three Months (13 Weeks) Ended July 2, 2022 Accumulated Total Additional Other Treasury Stock Nucor Common Stock Paid-in Retained Comprehensive (at cost) Stockholders' Noncontrolling Total Shares Amount Capital Earnings Income (Loss) Shares Amount Equity Interests BALANCES, April 2, 2022 $ 16,143,120 380,154 $ 152,061 $ 2,163,129 $ 19,635,277 $ ( 44,504 ) 114,092 $ ( 6,701,401 ) $ 15,204,562 $ 938,558 Net earnings before noncontrolling interests 2,727,237 - - - 2,561,233 - - - 2,561,233 166,004 Other comprehensive income (loss) ( 26,306 ) - - - - ( 26,306 ) - - ( 26,306 ) - Stock options exercised 2,233 - - ( 802 ) - - ( 49 ) 3,035 2,233 - Stock option expense 3,964 - - 3,964 - - - - 3,964 - Issuance of stock under award plans, ( 3,546 ) - - ( 52,313 ) - - ( 775 ) 48,767 ( 3,546 ) - Amortization of unearned 1,200 - - 1,200 - - - - 1,200 - Treasury stock acquired ( 802,569 ) - - - - - 5,100 ( 802,569 ) ( 802,569 ) - Cash dividends declared ( 132,127 ) - - - ( 132,127 ) - - - ( 132,127 ) - Distributions to noncontrolling ( 56,977 ) - - - - - - - - ( 56,977 ) Acquisition of noncontrolling interest in CSI ( 3,421 ) - - - - - - - - ( 3,421 ) BALANCES, July 2, 2022 $ 17,852,808 380,154 $ 152,061 $ 2,115,178 $ 22,064,383 $ ( 70,810 ) 118,368 $ ( 7,452,168 ) $ 16,808,644 $ 1,044,164 Six Months (26 Weeks) Ended July 2, 2022 Accumulated Total Additional Other Treasury Stock Nucor Common Stock Paid-in Retained Comprehensive (at cost) Stockholders' Noncontrolling Total Shares Amount Capital Earnings Income (Loss) Shares Amount Equity Interests BALANCES, December 31, 2021 $ 14,603,794 380,154 $ 152,061 $ 2,140,608 $ 17,674,100 $ ( 115,282 ) 107,742 $ ( 5,835,098 ) $ 14,016,389 $ 587,405 Net earnings before noncontrolling interests 4,954,352 - - - 4,656,856 - - - 4,656,856 297,496 Other comprehensive income (loss) 44,472 - - - - 44,472 - - 44,472 - Stock options exercised 18,819 - - ( 1,309 ) - - ( 359 ) 20,128 18,819 - Stock option expense 4,422 - - 4,422 - - - - 4,422 - Issuance of stock under award plans, 39,552 - - ( 31,143 ) - - ( 1,163 ) 70,695 39,552 - Amortization of unearned 2,600 - - 2,600 - - - - 2,600 - Treasury stock acquired ( 1,707,893 ) - - - - - 12,148 ( 1,707,893 ) ( 1,707,893 ) - Cash dividends declared ( 266,573 ) - - - ( 266,573 ) - - - ( 266,573 ) - Distributions to noncontrolling ( 268,535 ) - - - - - - - - ( 268,535 ) Acquisition of noncontrolling interest in CSI 427,798 - - - - - - - - 427,798 BALANCES, July 2, 2022 $ 17,852,808 380,154 $ 152,061 $ 2,115,178 $ 22,064,383 $ ( 70,810 ) 118,368 $ ( 7,452,168 ) $ 16,808,644 $ 1,044,164

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jul. 01, 2023
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The following tables reflect the changes in accumulated other comprehensive income (loss) by component for the three months and six months ended July 1, 2023 and July 2, 2022 (in thousands): Three-Month (13-Week) Period Ended July 1, 2023 Gains and (Losses) on Foreign Currency Adjustment to Early Hedging Derivatives Gains (Losses) Retiree Medical Plan Total Accumulated other comprehensive $ 1,700 $ ( 183,657 ) $ 16,599 $ ( 165,358 ) Other comprehensive income ( 4,428 ) 34,586 - 30,158 Amounts reclassified from (1) 6,228 - - 6,228 Net current-period other 1,800 34,586 - 36,386 Accumulated other comprehensive $ 3,500 $ ( 149,071 ) $ 16,599 $ ( 128,972 ) Six-Month (26-Week) Period Ended July 1, 2023 Gains and (Losses) on Foreign Currency Adjustment to Early Hedging Derivatives Gains (Losses) Retiree Medical Plan Total Accumulated other comprehensive $ 26,100 $ ( 180,216 ) $ 16,599 $ ( 137,517 ) Other comprehensive income ( 29,003 ) 31,145 - 2,142 Amounts reclassified from (1) 6,403 - - 6,403 Net current-period other ( 22,600 ) 31,145 - 8,545 Accumulated other comprehensive $ 3,500 $ ( 149,071 ) $ 16,599 $ ( 128,972 ) (1) Includes $ 6,228 and $ 6,403 net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts in the second quarter and first six months of 2023, respectively. The tax impact of those reclassifications was $ 1,900 and $ 2,000 in the second quarter and first six months of 2023, respectively. Three-Month (13-Week) Period Ended July 2, 2022 Gains and (Losses) on Foreign Currency Adjustment to Early Hedging Derivatives Gains (Losses) Retiree Medical Plan Total Accumulated other comprehensive $ 49,198 $ ( 102,176 ) $ 8,474 $ ( 44,504 ) Other comprehensive income (loss) 16,138 ( 27,308 ) - ( 11,170 ) Amounts reclassified from (2) ( 15,136 ) - - ( 15,136 ) Net current-period other 1,002 ( 27,308 ) - ( 26,306 ) Accumulated other comprehensive $ 50,200 $ ( 129,484 ) $ 8,474 $ ( 70,810 ) Six-Month (26-Week) Period Ended July 2, 2022 Gains and (Losses) on Foreign Currency Adjustment to Early Hedging Derivatives Gains (Losses) Retiree Medical Plan Total Accumulated other comprehensive $ 1,112 $ ( 124,868 ) $ 8,474 $ ( 115,282 ) Other comprehensive income (loss) 69,614 ( 4,616 ) - 64,998 Amounts reclassified from (2) ( 20,526 ) - - ( 20,526 ) Net current-period other 49,088 ( 4,616 ) - 44,472 Accumulated other comprehensive $ 50,200 $ ( 129,484 ) $ 8,474 $ ( 70,810 ) Includes $( 15,136 ) and $( 20,526 ) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts in the second quarter and first six months of 2022, respectively. The tax impact of those reclassifications was $( 4,800 ) and $( 6,500 ) in the second quarter and first six months of 2022, respectively.

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jul. 01, 2023
Segment Reporting [Abstract]
Segments	Nucor’s results by segment for the second quarter and first six months of 2023 and 2022 were as follows (in thousands): Three Months (13 Weeks) Ended Six Months (26 Weeks) Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Net sales to external customers: Steel mills $ 5,565,772 $ 7,256,067 $ 10,545,029 $ 13,774,676 Steel products 3,442,862 3,842,948 6,718,859 7,166,036 Raw materials 514,622 695,459 969,348 1,347,044 $ 9,523,256 $ 11,794,474 $ 18,233,236 $ 22,287,756 Intercompany sales: Steel mills $ 1,361,066 $ 1,763,563 $ 2,524,698 $ 3,356,821 Steel products 100,257 117,289 200,618 251,995 Raw materials 3,588,629 4,145,690 6,759,521 7,692,209 Corporate/eliminations ( 5,049,952 ) ( 6,026,542 ) ( 9,484,837 ) ( 11,301,025 ) $ - $ - $ - $ - Earnings before income taxes and Steel mills $ 1,403,547 $ 2,815,723 $ 2,241,935 $ 5,394,577 Steel products 1,010,789 1,129,932 1,981,591 1,814,799 Raw materials 138,411 263,598 196,551 359,451 Corporate/eliminations ( 502,965 ) ( 718,851 ) ( 773,511 ) ( 1,180,310 ) $ 2,049,782 $ 3,490,402 $ 3,646,566 $ 6,388,517 July 1, 2023 Dec. 31, 2022 Segment assets: Steel mills $ 14,828,076 $ 14,157,229 Steel products 11,487,936 12,087,145 Raw materials 3,292,148 3,383,114 Corporate/eliminations 3,771,756 2,851,722 $ 33,379,916 $ 32,479,210

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jul. 01, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Net Sales Disaggregates by Major Source	The following tables disaggregate our revenue by major source for the second quarter and first six months of 2023 and 2022 (in thousands): Three Months (13 Weeks) Ended July 1, 2023 Six Months (26 Weeks) Ended July 1, 2023 Steel Steel Raw Total Steel Steel Raw Total Sheet $ 2,645,817 $ - $ - $ 2,645,817 $ 4,748,511 $ - $ - $ 4,748,511 Bar 1,599,724 - - 1,599,724 3,197,852 - - 3,197,852 Structural 581,952 - - 581,952 1,220,259 - - 1,220,259 Plate 738,279 - - 738,279 1,378,407 - - 1,378,407 Tubular Products - 436,551 - 436,551 - 875,534 - 875,534 Rebar Fabrication - 615,814 - 615,814 - 1,113,931 - 1,113,931 Joist - 638,975 - 638,975 - 1,274,791 - 1,274,791 Deck - 473,775 - 473,775 - 959,218 - 959,218 Other Steel Products - 1,277,747 - 1,277,747 - 2,495,385 - 2,495,385 Raw Materials - - 514,622 514,622 - - 969,348 969,348 $ 5,565,772 $ 3,442,862 $ 514,622 $ 9,523,256 $ 10,545,029 $ 6,718,859 $ 969,348 $ 18,233,236 Three Months (13 Weeks) Ended July 2, 2022 Six Months (26 Weeks) Ended July 2, 2022 Steel Steel Raw Total Steel Steel Raw Total Sheet $ 3,616,333 $ - $ - $ 3,616,333 $ 6,799,396 $ - $ - $ 6,799,396 Bar 1,992,463 - - 1,992,463 3,820,194 - - 3,820,194 Structural 783,121 - - 783,121 1,566,392 - - 1,566,392 Plate 864,150 - - 864,150 1,588,694 - - 1,588,694 Tubular Products - 613,238 - 613,238 - 1,124,391 - 1,124,391 Rebar Fabrication - 579,000 - 579,000 - 1,024,232 - 1,024,232 Joist - 687,882 - 687,882 - 1,300,117 - 1,300,117 Deck - 582,414 - 582,414 - 1,133,323 - 1,133,323 Other Steel Products - 1,380,414 - 1,380,414 - 2,583,973 - 2,583,973 Raw Materials - - 695,459 695,459 - - 1,347,044 1,347,044 $ 7,256,067 $ 3,842,948 $ 695,459 $ 11,794,474 $ 13,774,676 $ 7,166,036 $ 1,347,044 $ 22,287,756

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 01, 2023
Earnings Per Share [Abstract]
Computations of Basic and Diluted Net Earnings Per Share	The computations of basic and diluted net earnings per share for the second quarter and first six months of 2023 and 2022 are as follows (in thousands, except per share amounts): Three Months (13 Weeks) Ended Six Months (26 Weeks) Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Basic net earnings per share: Basic net earnings $ 1,461,354 $ 2,561,233 $ 2,597,896 $ 4,656,856 Earnings allocated to participating securities ( 6,029 ) ( 11,041 ) ( 9,251 ) ( 19,380 ) Net earnings available to common $ 1,455,325 $ 2,550,192 $ 2,588,645 $ 4,637,476 Basic average shares outstanding 250,144 263,221 251,876 267,416 Basic net earnings per share $ 5.82 $ 9.69 $ 10.28 $ 17.34 Diluted net earnings per share: Diluted net earnings $ 1,461,354 $ 2,561,233 $ 2,597,896 $ 4,656,856 Earnings allocated to participating securities ( 6,013 ) ( 10,997 ) ( 9,223 ) ( 19,302 ) Net earnings available to common $ 1,455,341 $ 2,550,236 $ 2,588,673 $ 4,637,554 Diluted average shares outstanding: Basic average shares outstanding 250,144 263,221 251,876 267,416 Dilutive effect of stock options and other 380 498 458 650 250,524 263,719 252,334 268,066 Diluted net earnings per share $ 5.81 $ 9.67 $ 10.26 $ 17.30

Inventories - Additional Inform

Inventories - Additional Information (Detail)	Jul. 01, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials and supplies in inventory, percentage	36%	37%
Finished and semi-finished products in inventory, percentage	64%	63%

Property, Plant and Equipment -

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	Jul. 01, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Accumulated depreciation	$ 11,520	$ 11,120

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Change in Net Carrying Amount of Goodwill by Segment (Detail) $ in Thousands	6 Months Ended
	Jul. 01, 2023 USD ($)
Goodwill [Line Items]
Balance, beginning of period	$ 3,920,060
Acquisitions	(3,740)
Translation	9,877
Balance, end of period	3,926,197
Steel Mills [Member]
Goodwill [Line Items]
Balance, beginning of period	675,186
Balance, end of period	675,186
Steel Products [Member]
Goodwill [Line Items]
Balance, beginning of period	2,510,045
Acquisitions	(3,740)
Translation	9,877
Balance, end of period	2,516,182
Raw Materials [Member]
Goodwill [Line Items]
Balance, beginning of period	734,829
Balance, end of period	$ 734,829

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022	Dec. 31, 2022
Finite And Indefinite Lived Intangible Assets [Line Items]
Impairment of goodwill			$ 0
Goodwill	$ 3,926,197,000		3,926,197,000		$ 3,920,060,000
Finite-lived intangible assets	3,205,881,000		3,205,881,000		$ 3,322,265,000
Intangible asset amortization expense	58,400,000	$ 45,900,000	117,200,000	$ 87,300,000
Future amortization expense, in 2023	233,500,000		233,500,000
Future amortization expense, in 2024	233,400,000		233,400,000
Future amortization expense, in 2025	232,400,000		232,400,000
Future amortization expense, in 2026	229,400,000		229,400,000
Future amortization expense, in 2027	$ 225,100,000		$ 225,100,000
Minimum [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Intangible assets, useful life	5 years		5 years
Maximum [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Intangible assets, useful life	25 years		25 years
Rebar Fabrication [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Percentage of fair value exceeded carrying value					34%
Goodwill	$ 356,300,000		$ 356,300,000		$ 347,600,000
Finite-lived intangible assets	$ 33,300,000		$ 33,300,000		$ 36,300,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross Amount	$ 4,649,423	$ 4,648,576
Intangible assets, Accumulated Amortization	1,443,542	1,326,311
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross Amount	4,175,432	4,174,724
Intangible assets, Accumulated Amortization	1,191,801	1,087,834
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross Amount	364,245	364,106
Intangible assets, Accumulated Amortization	153,691	142,363
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross Amount	109,746	109,746
Intangible assets, Accumulated Amortization	$ 98,050	$ 96,114

Current Liabilities - Additiona

Current Liabilities - Additional Information (Detail) - USD ($) $ in Millions	Jul. 01, 2023	Dec. 31, 2022
Liabilities, Current [Abstract]
Book overdrafts	$ 152.4	$ 163.6
Dividends payable, current	$ 127.7	$ 130.5

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	$ 870,475	$ 576,946
Total assets	33,379,916	32,479,210
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	3,980,583	3,182,631
Short-term investments	870,475	576,946
Restricted cash and cash equivalents	12,665	80,368
Derivative contracts, assets	7,263	34,400
Total assets	4,870,986	3,874,345
Derivative contracts, liabilities	(621)	(1,370)
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	3,980,583	3,182,631
Short-term investments	870,475	576,946
Restricted cash and cash equivalents	12,665	80,368
Total assets	4,863,723	3,839,945
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts, assets	7,263	34,400
Total assets	7,263	34,400
Derivative contracts, liabilities	$ (621)	$ (1,370)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Jul. 01, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair value of short-term and long-term debt, including current maturities	$ 5,960	$ 5,930

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Option Plans Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jul. 01, 2023 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Outstanding at beginning of year, Shares | shares	837
Granted, Shares | shares	91
Exercised, Shares | shares	(131)
Outstanding at July 1, 2023, Shares | shares	797
Stock options exercisable at July 1, 2023, Shares | shares	512
Outstanding at beginning of year, Weighted - Average Exercise Price | $ / shares	$ 66.76
Granted, Weighted - Average Exercise Price | $ / shares	133.03
Exercised, Weighted - Average Exercise Price | $ / shares	54.49
Outstanding at July 1, 2023, Weighted - Average Exercise Price | $ / shares	76.32
Stock options exercisable at July 1, 2023, Weighted - Average Exercise Price | $ / shares	$ 49.84
Outstanding, Weighted - Average Remaining Contractual Life	7 years 6 months
Stock options exercisable, Weighted - Average Remaining Contractual Life	6 years 8 months 12 days
Exercised, Aggregate Intrinsic Value | $	$ 15,539
Outstanding at July 1, 2023, , Aggregate Intrinsic Value | $	69,890
Stock options exercisable, Aggregate Intrinsic Value | $	$ 58,494

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expenses for stock options	$ 3.4	$ 3.9	$ 3.9	$ 4.4
Grant date fair value of stock options granted			$ 49.62
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to stock	2.8		$ 2.8
Weighted-average recognition period for unrecognized compensation expense related to stock (years)			2 years 2 months 12 days
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to stock	111.9		$ 111.9
Weighted-average recognition period for unrecognized compensation expense related to stock (years)			1 year 9 months 18 days
Compensation expense	48.5	41.9	$ 60.7	50.9
Restricted Stock Awards and Units [Member] | AIP and LTIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to stock	10.7		$ 10.7
Weighted-average recognition period for unrecognized compensation expense related to stock (years)			2 years
Compensation expense	$ 11.7	$ 1.8	$ 19.4	$ 18.8

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Grant Date Fair Value Black-Scholes Options-Pricing Model Assumptions (Details)	6 Months Ended
	Jul. 01, 2023 $ / shares
Share-Based Payment Arrangement [Abstract]
Exercise price	$ 133.03
Expected dividend yield	1.53%
Expected stock price volatility	37.55%
Risk-free interest rate	3.66%
Expected life (in years)	6 years 6 months

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Nucor's Restricted Stock Unit ("RSU") Activity (Detail) - Restricted Stock Units [Member] shares in Thousands	6 Months Ended
	Jul. 01, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at beginning of year, Shares | shares	1,003
Granted, Shares | shares	831
Vested, Shares | shares	(863)
Canceled, Shares | shares	(10)
Unvested at July 1, 2023, Shares | shares	961
Unvested at beginning of year, Grant Date Fair Value Per Share | $ / shares	$ 98.66
Granted, Grant Date Fair Value Per Share | $ / shares	133.03
Vested, Grant Date Fair Value Per Share | $ / shares	102.49
Canceled, Grant Date Fair Value Per Share | $ / shares	96.92
Unvested at July 1, 2023, Grant Date Fair Value Per Share | $ / shares	$ 124.96

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Nucor's Restricted Stock Activity under AIP and LTIP (Detail) - Restricted Stock Units and Restricted Stock Awards [Member] shares in Thousands	6 Months Ended
	Jul. 01, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at beginning of year, Shares | shares	209
Granted, Shares | shares	414
Vested, Shares | shares	(406)
Canceled, Shares | shares	(7)
Unvested at July 1, 2023, Shares | shares	210
Unvested at beginning of year, Grant Date Fair Value Per Share | $ / shares	$ 108.55
Granted, Grant Date Fair Value Per Share | $ / shares	171.38
Vested, Grant Date Fair Value Per Share | $ / shares	152.68
Canceled, Grant Date Fair Value Per Share | $ / shares	171.38
Unvested at July 1, 2023, Grant Date Fair Value Per Share | $ / shares	$ 144.98

Employee Benefit Plan - Additio

Employee Benefit Plan - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Employee Benefit Plan [Abstract]
Profit Sharing and Retirement Savings Plan, plan expense	$ 194.4	$ 333	$ 356.6	$ 619.9

Interest Expense (Income) - Sch

Interest Expense (Income) - Schedule of Components of Net Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Interest Revenue (Expense), Net [Abstract]
Interest expense	$ 60,806	$ 63,514	$ 123,488	$ 107,590
Interest income	(56,208)	(5,751)	(108,707)	(6,692)
Interest expense, net	$ 4,598	$ 57,763	$ 14,781	$ 100,898

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	22.60%	21.90%
Non-current deferred tax liabilities included in deferred credits and other liabilities	$ 1,240		$ 1,300
Non-current deferred tax assets included in other assets	$ 10.6		$ 19.3

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022	May 11, 2023
Dividends declared per share	$ 0.51	$ 0.50	$ 1.02	$ 1
Common Stock [Member]
Share repurchase program, available repurchase amount	$ 4,000		$ 4,000
Common Stock [Member] | Maximum [Member]
Stock Repurchase Program, Authorized Amount					$ 4,000
Nucor-Yamato Steel Company and California Steel Industries [Member]
Noncontrolling interest, ownership percentage by parent	51%	51%	51%	51%

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Change in Stockholder's Equity (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
BALANCES, beginning of period	$ 19,929,870	$ 16,143,120	$ 19,569,906	$ 14,603,794
Net earnings before noncontrolling interests	1,587,075	2,727,237	2,818,704	4,954,352
Other comprehensive income (loss)	36,386	(26,306)	8,545	44,472
Stock options exercised		2,233	$ 7,123	18,819
Stock options exercised (in shares)			131
Stock option expense	3,447	3,964	$ 3,922	4,422
Issuance of stock under award plans, net of forfeitures	16,149	(3,546)	59,969	39,552
Amortization of unearned compensation	1,501	1,200	3,265	2,600
Treasury stock value acquired	(454,814)	(802,569)	(884,627)	(1,707,893)
Cash dividends declared	(127,725)	(132,127)	(257,108)	(266,573)
Distributions to noncontrolling interests	(50,961)	(56,977)	(388,771)	(268,535)
Acquisition of noncontrolling interest in CSI		(3,421)		427,798
BALANCES, end of period	$ 20,940,928	17,852,808	$ 20,940,928	17,852,808
BALANCES, shares at end of period	380,154		380,154
Common Stock [Member]
BALANCES, beginning of period	$ 152,061	$ 152,061	$ 152,061	$ 152,061
BALANCES, shares at beginning of period	380,154	380,154	380,154	380,154
BALANCES, end of period	$ 152,061	$ 152,061	$ 152,061	$ 152,061
BALANCES, shares at end of period	380,154	380,154	380,154	380,154
Additional Paid-in Capital [Member]
BALANCES, beginning of period	$ 2,168,770	$ 2,163,129	$ 2,143,520	$ 2,140,608
Stock options exercised		(802)	(1,749)	(1,309)
Stock option expense	3,447	3,964	3,922	4,422
Issuance of stock under award plans, net of forfeitures	(24,025)	(52,313)	735	(31,143)
Amortization of unearned compensation	1,501	1,200	3,265	2,600
BALANCES, end of period	2,149,693	2,115,178	2,149,693	2,115,178
Retained Earnings [Member]
BALANCES, beginning of period	25,762,032	19,635,277	24,754,873	17,674,100
Net earnings before noncontrolling interests	1,461,354	2,561,233	2,597,896	4,656,856
Cash dividends declared	(127,725)	(132,127)	(257,108)	(266,573)
BALANCES, end of period	27,095,661	22,064,383	27,095,661	22,064,383
Accumulated Other Comprehensive Income (Loss) [Member]
BALANCES, beginning of period	(165,358)	(44,504)	(137,517)	(115,282)
Other comprehensive income (loss)	36,386	(26,306)	8,545	44,472
BALANCES, end of period	(128,972)	(70,810)	(128,972)	(70,810)
Treasury Stock (at cost) [Member]
BALANCES, beginning of period	$ (8,900,124)	$ (6,701,401)	$ (8,498,243)	$ (5,835,098)
BALANCES, shares at beginning of period	128,930	114,092	126,661	107,742
Stock options exercised		$ 3,035		$ 20,128
Stock options exercised (in shares)		(49)	(131)	(359)
Stock option expense			$ 8,872
Issuance of stock under award plans, net of forfeitures	$ 40,174	$ 48,767	$ 59,234	$ 70,695
Issuance of stock under award plans, net of forfeitures, shares	(566)	(775)	(889)	(1,163)
Treasury stock value acquired	$ (454,814)	$ (802,569)	$ (884,627)	$ (1,707,893)
Treasury stock acquired (in shares)	3,067	5,100	5,790	12,148
BALANCES, end of period	$ (9,314,764)	$ (7,452,168)	$ (9,314,764)	$ (7,452,168)
BALANCES, shares at end of period	131,431	118,368	131,431	118,368
Total Nucor Stockholders' Equity [Member]
BALANCES, beginning of period	$ 19,017,381	$ 15,204,562	$ 18,414,694	$ 14,016,389
Net earnings before noncontrolling interests	1,461,354	2,561,233	2,597,896	4,656,856
Other comprehensive income (loss)	36,386	(26,306)	8,545	44,472
Stock options exercised		2,233	7,123	18,819
Stock option expense	3,447	3,964	3,922	4,422
Issuance of stock under award plans, net of forfeitures	16,149	(3,546)	59,969	39,552
Amortization of unearned compensation	1,501	1,200	3,265	2,600
Treasury stock value acquired	(454,814)	(802,569)	(884,627)	(1,707,893)
Cash dividends declared	(127,725)	(132,127)	(257,108)	(266,573)
BALANCES, end of period	19,953,679	16,808,644	19,953,679	16,808,644
Noncontrolling Interests [Member]
BALANCES, beginning of period	912,489	938,558	1,155,212	587,405
Net earnings before noncontrolling interests	125,721	166,004	220,808	297,496
Distributions to noncontrolling interests	(50,961)	(56,977)	(388,771)	(268,535)
Acquisition of noncontrolling interest in CSI		(3,421)		427,798
BALANCES, end of period	$ 987,249	$ 1,044,164	$ 987,249	$ 1,044,164

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 01, 2023		Jul. 02, 2022		Jul. 01, 2023		Jul. 02, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning Balance, Gains and (Losses) on Hedging Derivatives	$ 1,700		$ 49,198		$ 26,100		$ 1,112
Other comprehensive income (loss) before reclassifications, Gains and (Losses) on Hedging Derivatives	(4,428)		16,138		(29,003)		69,614
Amounts reclassified from accumulated other comprehensive income (loss) into earnings, Gains and (Losses) on Hedging Derivatives	6,228	[1]	(15,136)	[2]	6,403	[1]	(20,526)	[2]
Net current-period other comprehensive income (loss), Gains and (Losses) on Hedging Derivatives	1,800		1,002		(22,600)		49,088
Ending Balance, Gains and (Losses) on Hedging Derivatives	3,500		50,200		3,500		50,200
Beginning Balance, Foreign Currency Gains (Losses)	(183,657)		(102,176)		(180,216)		(124,868)
Other comprehensive income (loss) before reclassifications, Foreign Currency Gains (Losses)	34,586		(27,308)		31,145		(4,616)
Amounts reclassified from accumulated other comprehensive income (loss) into earnings, Foreign Currency Gains (Losses)	0	[1]	0	[2]	0	[1]	0	[2]
Net current-period other comprehensive income (loss), Foreign Currency Gains (Losses)	34,586		(27,308)		31,145		(4,616)
Ending Balance, Foreign Currency Gains (Losses)	(149,071)		(129,484)		(149,071)		(129,484)
Beginning Balance, Adjustment to Early Retiree Medical Plan	16,599		8,474		16,599		8,474
Other comprehensive income (loss) before reclassifications, Adjustment to Early Retiree Medical Plan	0		0		0		0
Amounts reclassified from accumulated other comprehensive (loss) income into earnings, Adjustment to Early Retiree Medical Plan	0	[1]	0	[2]	0	[1]	0	[2]
Net current-period other comprehensive income (loss), Adjustment to Early Retiree Medical Plan	0		0		0		0
Ending Balance, Adjustment to Early Retiree Medical Plan	16,599		8,474		16,599		8,474
Beginning Balance	(165,358)		(44,504)		(137,517)		(115,282)
Other comprehensive income (loss) before reclassifications	30,158		(11,170)		2,142		64,998
Amounts reclassified from accumulated other comprehensive income (loss) into earnings	6,228	[1]	(15,136)	[2]	6,403	[1]	(20,526)	[2]
Net current-period other comprehensive income (loss)	36,386		(26,306)		8,545		44,472
Ending Balance	$ (128,972)		$ (70,810)		$ (128,972)		$ (70,810)
[1] Includes $ 6,228 and $ 6,403 net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts in the second quarter and first six months of 2023, respectively. The tax impact of those reclassifications was $ 1,900 and $ 2,000 in the second quarter and first six months of 2023, respectively. Includes $( 15,136 ) and $( 20,526 ) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts in the second quarter and first six months of 2022, respectively. The tax impact of those reclassifications was $( 4,800 ) and $( 6,500 ) in the second quarter and first six months of 2022, respectively.

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 01, 2023		Jul. 02, 2022		Jul. 01, 2023		Jul. 02, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss) into earnings, Gains and (Losses) on Hedging Derivatives	$ 6,228	[1]	$ (15,136)	[2]	$ 6,403	[1]	$ (20,526)	[2]
Reclassification adjustment for (gain) loss on settlement of hedging derivatives included in net earnings, tax effect	1,900		(4,800)		2,000		(6,500)
Cost of Products Sold [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss) into earnings, Gains and (Losses) on Hedging Derivatives	6,228		(15,136)		6,403		(20,526)
Reclassification adjustment for (gain) loss on settlement of hedging derivatives included in net earnings, tax effect	$ 1,900		$ (4,800)		$ 2,000		$ (6,500)
[1] Includes $ 6,228 and $ 6,403 net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts in the second quarter and first six months of 2023, respectively. The tax impact of those reclassifications was $ 1,900 and $ 2,000 in the second quarter and first six months of 2023, respectively. Includes $( 15,136 ) and $( 20,526 ) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts in the second quarter and first six months of 2022, respectively. The tax impact of those reclassifications was $( 4,800 ) and $( 6,500 ) in the second quarter and first six months of 2022, respectively.

Segments - Segments (Detail)

Segments - Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 9,523,256	$ 11,794,474	$ 18,233,236	$ 22,287,756
Earnings (losses) before income taxes and noncontrolling interests	2,049,782	3,490,402	3,646,566	6,388,517
Total assets	33,379,916		33,379,916		$ 32,479,210
Operating Segments [Member] | Steel Mills [Member]
Segment Reporting Information [Line Items]
Net sales	5,565,772	7,256,067	10,545,029	13,774,676
Earnings (losses) before income taxes and noncontrolling interests	1,403,547	2,815,723	2,241,935	5,394,577
Total assets	14,828,076		14,828,076		14,157,229
Operating Segments [Member] | Steel Products [Member]
Segment Reporting Information [Line Items]
Net sales	3,442,862	3,842,948	6,718,859	7,166,036
Earnings (losses) before income taxes and noncontrolling interests	1,010,789	1,129,932	1,981,591	1,814,799
Total assets	11,487,936		11,487,936		12,087,145
Operating Segments [Member] | Raw Materials [Member]
Segment Reporting Information [Line Items]
Net sales	514,622	695,459	969,348	1,347,044
Earnings (losses) before income taxes and noncontrolling interests	138,411	263,598	196,551	359,451
Total assets	3,292,148		3,292,148		3,383,114
Intercompany Eliminations [Member] | Steel Mills [Member]
Segment Reporting Information [Line Items]
Net sales	1,361,066	1,763,563	2,524,698	3,356,821
Intercompany Eliminations [Member] | Steel Products [Member]
Segment Reporting Information [Line Items]
Net sales	100,257	117,289	200,618	251,995
Intercompany Eliminations [Member] | Raw Materials [Member]
Segment Reporting Information [Line Items]
Net sales	3,588,629	4,145,690	6,759,521	7,692,209
Corporate and Eliminations Items [Member]
Segment Reporting Information [Line Items]
Net sales	(5,049,952)	(6,026,542)	(9,484,837)	(11,301,025)
Earnings (losses) before income taxes and noncontrolling interests	(502,965)	$ (718,851)	(773,511)	$ (1,180,310)
Corporate/eliminations [Member]
Segment Reporting Information [Line Items]
Total assets	$ 3,771,756		$ 3,771,756		$ 2,851,722

Revenue - Schedule of Net Sales

Revenue - Schedule of Net Sales Disaggregates by Major Source (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Revenue from Contract with Customers [Line Items]
Revenues	$ 9,523,256	$ 11,794,474	$ 18,233,236	$ 22,287,756
Sheet [Member]
Revenue from Contract with Customers [Line Items]
Revenues	2,645,817	3,616,333	4,748,511	6,799,396
Bar [Member]
Revenue from Contract with Customers [Line Items]
Revenues	1,599,724	1,992,463	3,197,852	3,820,194
Structural [Member]
Revenue from Contract with Customers [Line Items]
Revenues	581,952	783,121	1,220,259	1,566,392
Plate [Member]
Revenue from Contract with Customers [Line Items]
Revenues	738,279	864,150	1,378,407	1,588,694
Tubular Products [Member]
Revenue from Contract with Customers [Line Items]
Revenues	436,551	613,238	875,534	1,124,391
Rebar Fabrication [Member]
Revenue from Contract with Customers [Line Items]
Revenues	615,814	579,000	1,113,931	1,024,232
Joist [Member]
Revenue from Contract with Customers [Line Items]
Revenues	638,975	687,882	1,274,791	1,300,117
Deck [Member]
Revenue from Contract with Customers [Line Items]
Revenues	473,775	582,414	959,218	1,133,323
Other Steel Products [Member]
Revenue from Contract with Customers [Line Items]
Revenues	1,277,747	1,380,414	2,495,385	2,583,973
Raw Materials [Member]
Revenue from Contract with Customers [Line Items]
Revenues	514,622	695,459	969,348	1,347,044
Steel Mills [Member]
Revenue from Contract with Customers [Line Items]
Revenues	5,565,772	7,256,067	10,545,029	13,774,676
Steel Mills [Member] | Sheet [Member]
Revenue from Contract with Customers [Line Items]
Revenues	2,645,817	3,616,333	4,748,511	6,799,396
Steel Mills [Member] | Bar [Member]
Revenue from Contract with Customers [Line Items]
Revenues	1,599,724	1,992,463	3,197,852	3,820,194
Steel Mills [Member] | Structural [Member]
Revenue from Contract with Customers [Line Items]
Revenues	581,952	783,121	1,220,259	1,566,392
Steel Mills [Member] | Plate [Member]
Revenue from Contract with Customers [Line Items]
Revenues	738,279	864,150	1,378,407	1,588,694
Steel Products [Member]
Revenue from Contract with Customers [Line Items]
Revenues	3,442,862	3,842,948	6,718,859	7,166,036
Steel Products [Member] | Tubular Products [Member]
Revenue from Contract with Customers [Line Items]
Revenues	436,551	613,238	875,534	1,124,391
Steel Products [Member] | Rebar Fabrication [Member]
Revenue from Contract with Customers [Line Items]
Revenues	615,814	579,000	1,113,931	1,024,232
Steel Products [Member] | Joist [Member]
Revenue from Contract with Customers [Line Items]
Revenues	638,975	687,882	1,274,791	1,300,117
Steel Products [Member] | Deck [Member]
Revenue from Contract with Customers [Line Items]
Revenues	473,775	582,414	959,218	1,133,323
Steel Products [Member] | Other Steel Products [Member]
Revenue from Contract with Customers [Line Items]
Revenues	1,277,747	1,380,414	2,495,385	2,583,973
Raw Materials [Member]
Revenue from Contract with Customers [Line Items]
Revenues	514,622	695,459	969,348	1,347,044
Raw Materials [Member] | Raw Materials [Member]
Revenue from Contract with Customers [Line Items]
Revenues	$ 514,622	$ 695,459	$ 969,348	$ 1,347,044

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($) $ in Millions	Jul. 01, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 350.5	$ 285

Earnings Per Share - Computatio

Earnings Per Share - Computations of Basic and Diluted Net Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Earnings Per Share [Abstract]
Net Income (Loss)	$ 1,461,354	$ 2,561,233	$ 2,597,896	$ 4,656,856
Earnings allocated to participating securities, Basic	(6,029)	(11,041)	(9,251)	(19,380)
Net earnings available to common stockholders, Basic	$ 1,455,325	$ 2,550,192	$ 2,588,645	$ 4,637,476
Basic average shares outstanding	250,144	263,221	251,876	267,416
Basic net earnings per share	$ 5.82	$ 9.69	$ 10.28	$ 17.34
Diluted net earnings	$ 1,461,354	$ 2,561,233	$ 2,597,896	$ 4,656,856
Earnings allocated to participating securities, Diluted	(6,013)	(10,997)	(9,223)	(19,302)
Net earnings available to common stockholders, Diluted	$ 1,455,341	$ 2,550,236	$ 2,588,673	$ 4,637,554
Dilutive effect of stock options and other	380	498	458	650
Diluted average shares outstanding	250,524	263,719	252,334	268,066
Diluted net earnings per share	$ 5.81	$ 9.67	$ 10.26	$ 17.3