Nucor (NUE) 10-K 25 Feb 10 2009 FY Annual report Financial data

Statement Of Financial Position

Statement Of Financial Position Classified (USD $)
In Thousands	Dec. 31, 2009	Dec. 31, 2008
CURRENT ASSETS:
Cash and cash equivalents (Note 15)	$2,016,981	$2,355,130
Short-term investments (Notes 4 and 15)	225,000	0
Accounts receivable, net (Note 5)	1,116,035	1,228,807
Inventories, net (Note 6)	1,312,903	2,408,157
Other current assets (Notes 14, 15 and 20)	511,329	405,392
Total current assets	5,182,248	6,397,486
PROPERTY, PLANT AND EQUIPMENT, NET (Note 7)	4,013,836	4,131,861
GOODWILL (Note 8)	1,803,021	1,732,045
OTHER INTANGIBLE ASSETS, NET (Note 8)	902,922	946,545
OTHER ASSETS (Notes 9 and 11)	669,877	666,506
TOTAL ASSETS	12,571,904	13,874,443
CURRENT LIABILITIES:
Short-term debt (Notes 11 and 15)	1,748	8,622
Long-term debt due within one year (Notes 11 and 15)	6,000	180,400
Accounts payable (Note 10)	707,038	534,161
Federal income taxes payable	0	199,044
Salaries, wages and related accruals (Notes 17 and 18)	154,997	580,090
Accrued expenses and other current liabilities (Notes 10, 14, 15 and 16)	357,274	351,875
Total current liabilities	1,227,057	1,854,192
LONG-TERM DEBT DUE AFTER ONE YEAR (Notes 11 and 15)	3,080,200	3,086,200
DEFERRED CREDITS AND OTHER LIABILITIES (Notes 14, 15, 16, 17, 18 and 20)	680,358	677,370
TOTAL LIABILITIES	4,987,615	5,617,762
NUCOR STOCKHOLDERS' EQUITY (Notes 12, 13 and 17):
Common stock (800,000 shares authorized; 374,692 and 374,069 shares issued, respectively)	149,877	149,628
Additional paid-in capital	1,675,777	1,629,981
Retained earnings	7,120,218	7,860,629
Accumulated other comprehensive loss, net of income taxes (Notes 2 and 14)	(41,056)	(190,262)
Treasury stock (59,836 and 60,092, respectively)	(1,514,290)	(1,520,772)
Total Nucor stockholders' equity	7,390,526	7,929,204
NONCONTROLLING INTERESTS	193,763	327,477
TOTAL EQUITY	7,584,289	8,256,681
TOTAL LIABILITIES AND EQUITY	$12,571,904	$13,874,443

1_Statement Of Financial Positi

Statement Of Financial Position Classified (Parenthetical) (USD $)
Share data in Thousands	Dec. 31, 2009	Dec. 31, 2008
Common stock, shares authorized	800,000	800,000
Common stock, shares issued	374,692	374,069
Treasury stock, shares	59,836	60,092

Statement Of Income Alternative

Statement Of Income Alternative (USD $)
In Thousands, except Per Share data	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
NET SALES	$11,190,296	$23,663,324	$16,592,976
COSTS, EXPENSES AND OTHER:
Cost of products sold	11,035,903	19,612,283	13,462,927
Marketing, administrative and other expenses	348,478	714,064	553,146
Equity in losses of unconsolidated affiliates	82,341	36,920	24,618
Impairment of non-current assets (Note 9)	2,800	105,183	0
Interest expense, net (Note 19)	134,752	90,483	5,469
Costs and expenses, Operating and Nonoperating, Total	11,604,274	20,558,933	14,046,160
EARNINGS (LOSS) BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS	(413,978)	3,104,391	2,546,816
PROVISION FOR (BENEFIT FROM) INCOME TAXES (Note 20)	(176,800)	959,480	781,368
NET EARNINGS (LOSS)	(237,178)	2,144,911	1,765,448
EARNINGS ATTRIBUTABLE TO NONCONTROLLING INTERESTS	56,435	313,921	293,501
NET EARNINGS (LOSS) ATTRIBUTABLE TO NUCOR STOCKHOLDERS	($293,613)	$1,830,990	$1,471,947
NET EARNINGS (LOSS) PER SHARE (Note 21):
Basic	-0.94	5.99	4.96
Diluted	-0.94	5.98	4.94

Statement Of Shareholders Equit

Statement Of Shareholders Equity And Other Comprehensive Income (USD $)
In Thousands	COMMON STOCK	ADDITIONAL PAID-IN CAPITAL	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	TREASURY STOCK (AT COST)	TOTAL NUCOR STOCKHOLDERS' EQUITY	NON-CONTROLLING INTERESTS	Total
Beginning Balance at Dec. 31, 2006	$149,006	$195,543	$5,840,067	$4,470	($1,331,735)	$4,857,351	$243,366	$5,100,717
Beginning Balance (in shares) at Dec. 31, 2006	372,516				71,567
Comprehensive income:
Net earnings (loss)			1,471,947			1,471,947	293,501	1,765,448
Net unrealized loss on hedging derivatives, net of income taxes				(819)		(819)		(819)
Reclassification adjustment for gain (loss) on settlement of hedging derivatives included in net income (loss), net of income taxes				11,719		11,719		11,719
Foreign currency translation gain (loss), net of income taxes				142,971		142,971	257	143,228
Adjustment to early-retiree medical plan, net of income taxes				10,313		10,313		10,313
Other				(5,292)		(5,292)		(5,292)
Total comprehensive income (loss)						1,630,839	293,758	1,924,597
Adjustment to initially apply FIN 48			31,135			31,135		31,135
Stock options exercised (in shares)	609
Stock options exercised	244	11,759				12,003		12,003
Issuance of stock under award plans, net of forfeitures (in shares)	130				(423)
Issuance of stock under award plans, net of forfeitures	52	43,554			7,965	51,571		51,571
Amortization of unearned compensation		5,550				5,550		5,550
Treasury stock acquired (in shares)					14,118
Treasury stock acquired					(754,029)	(754,029)		(754,029)
Cash dividends ($1.41 per share in 2009, $1.91 per share in 2008 and $2.44 per share in 2007)			(721,503)			(721,503)		(721,503)
Distributions to noncontrolling interests							(263,086)	(263,086)
Other							13,408	13,408
Ending Balance (in shares) at Dec. 31, 2007	373,255				85,262
Ending Balance at Dec. 31, 2007	149,302	256,406	6,621,646	163,362	(2,077,799)	5,112,917	287,446	5,400,363
Comprehensive income:
Net earnings (loss)			1,830,990			1,830,990	313,921	2,144,911
Net unrealized loss on hedging derivatives, net of income taxes				(60,137)		(60,137)		(60,137)
Reclassification adjustment for gain (loss) on settlement of hedging derivatives included in net income (loss), net of income taxes				(9,863)		(9,863)		(9,863)
Foreign currency translation gain (loss), net of income taxes				(284,199)		(284,199)	(335)	(284,534)
Adjustment to early-retiree medical plan, net of income taxes				575		575		575
Total comprehensive income (loss)						1,477,366	313,586	1,790,952
Stock options exercised (in shares)	553
Stock options exercised	221	10,490				10,711		10,711
Issuance of stock under award plans, net of forfeitures (in shares)	261				(276)
Issuance of stock under award plans, net of forfeitures	105	46,340			6,728	53,173		53,173
Amortization of unearned compensation		5,025				5,025		5,025
Issuance of stock under public equity offering (in shares)					(27,668)
Issuance of stock under public equity offering		1,311,720			674,259	1,985,979		1,985,979
Treasury stock acquired (in shares)					2,774
Treasury stock acquired					(123,960)	(123,960)		(123,960)
Cash dividends ($1.41 per share in 2009, $1.91 per share in 2008 and $2.44 per share in 2007)			(592,007)			(592,007)		(592,007)
Distributions to noncontrolling interests							(275,075)	(275,075)
Other							1,520	1,520
Ending Balance (in shares) at Dec. 31, 2008	374,069				60,092
Ending Balance at Dec. 31, 2008	149,628	1,629,981	7,860,629	(190,262)	(1,520,772)	7,929,204	327,477	8,256,681
Comprehensive income:
Net earnings (loss)			(293,613)			(293,613)	56,435	(237,178)
Net unrealized loss on hedging derivatives, net of income taxes				(48,616)		(48,616)		(48,616)
Reclassification adjustment for gain (loss) on settlement of hedging derivatives included in net income (loss), net of income taxes				40,543		40,543		40,543
Foreign currency translation gain (loss), net of income taxes				155,201		155,201	84	155,285
Adjustment to early-retiree medical plan, net of income taxes				2,078		2,078		2,078
Total comprehensive income (loss)						(144,407)	56,519	(87,888)
Stock options exercised (in shares)	239
Stock options exercised	95	3,645				3,740		3,740
Issuance of stock under award plans, net of forfeitures (in shares)	384				(256)
Issuance of stock under award plans, net of forfeitures	154	38,247			6,482	44,883		44,883
Amortization of unearned compensation		3,904				3,904		3,904
Cash dividends ($1.41 per share in 2009, $1.91 per share in 2008 and $2.44 per share in 2007)			(446,798)			(446,798)		(446,798)
Distributions to noncontrolling interests							(190,233)	(190,233)
Ending Balance (in shares) at Dec. 31, 2009	374,692				59,836
Ending Balance at Dec. 31, 2009	$149,877	$1,675,777	$7,120,218	($41,056)	($1,514,290)	$7,390,526	$193,763	$7,584,289

2_Statement Of Shareholders Equ

Statement Of Shareholders Equity And Other Comprehensive Income (Parenthetical) (USD $)
	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Cash dividends, per share	1.41	1.91	2.44

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect (USD $)
In Thousands	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
OPERATING ACTIVITIES:
Net earnings (loss)	($237,178)	$2,144,911	$1,765,448
Adjustments:
Depreciation	494,035	479,484	403,172
Amortization	72,388	69,423	24,384
Stock-based compensation	54,665	49,873	44,001
Deferred income taxes	88,546	(293,476)	(81,206)
Equity in losses of unconsolidated affiliates	82,341	36,920	24,618
Impairment of non-current assets	2,800	105,183	0
Changes in assets and liabilities (exclusive of acquisitions):
Accounts receivable	141,104	855,572	(174,326)
Inventories	1,117,600	(364,280)	(102,490)
Accounts payable	170,229	(861,334)	57,259
Federal income taxes	(422,116)	278,663	13,332
Salaries, wages and related accruals	(419,800)	129,927	(42,931)
Other	37,683	(132,138)	4,045
Cash provided by operating activities	1,182,297	2,498,728	1,935,306
INVESTING ACTIVITIES:
Capital expenditures	(390,500)	(1,018,980)	(520,353)
Sale of interest in affiliate	0	0	29,500
Investment in and advances to affiliates	(63,563)	(720,713)	(31,435)
Disposition of plant and equipment	11,371	17,180	2,787
Acquisitions (net of cash acquired)	(32,720)	(1,826,030)	(1,542,666)
Purchases of investments	(261,389)	(289,423)	(487,395)
Proceeds from the sale of investments	36,389	499,709	1,687,578
Proceeds from currency derivative contracts	0	1,441,862	517,241
Settlement of currency derivative contracts	0	(1,424,291)	(511,394)
Cash used in investing activities	(700,412)	(3,320,686)	(856,137)
FINANCING ACTIVITIES:
Net change in short-term debt (exclusive of aquisitions)	(6,908)	(149,837)	(65,871)
Repayment of long-term debt	(180,400)	0	0
Proceeds from issuance of long-term debt, net of discount	0	989,715	1,322,445
Debt issuance costs	0	(6,937)	(9,200)
Issuance of common stock	3,716	1,996,690	12,003
Excess tax benefits from stock-based compensation	(3,100)	10,600	13,000
Distributions to noncontrolling interests	(190,233)	(275,075)	(263,086)
Cash dividends	(443,109)	(658,051)	(726,139)
Acquisition of treasury stock	0	(123,960)	(754,029)
Cash provided by (used in) financing activities	(820,034)	1,783,145	(470,877)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(338,149)	961,187	608,292
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR	2,355,130	1,393,943	785,651
CASH AND CASH EQUIVALENTS - END OF YEAR	$2,016,981	$2,355,130	$1,393,943

SCHEDULE II-VALUATION AND QUALI

SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS
	12 Months Ended Dec. 31, 2009 USD / shares
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE IIVALUATION AND QUALIFYING ACCOUNTS (in thousands) Description Balance at beginning of year Additions charged to costs and expenses Deductions Balance at endofyear Year ended December31, 2009 LIFO Reserve $ 923,362 $ $ (466,914 ) $ 456,448 Year ended December31, 2008 LIFO Reserve $ 581,528 $ 341,834 $ $ 923,362 Year ended December31, 2007 LIFO Reserve $ 387,241 $ 194,287 $ $ 581,528

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION
	12 Months Ended Dec. 31, 2009 USD / shares
NATURE OF OPERATIONS AND BASIS OF PRESENTATION	1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION Nature of Operations Nucor is principally a manufacturer of steel and steel products, as well as a scrap processor, with operating facilities and customers primarily located in North America. Principles of Consolidation The consolidated financial statements include Nucor and its controlled subsidiaries, including Nucor-Yamato Steel Company, a limited partnership of which Nucor owns 51%. All significant intercompany transactions are eliminated. Distributions are made to minority interest partners in Nucor-Yamato Steel Company in accordance with the limited partnership agreement by mutual agreement of the general partners. At a minimum, sufficient cash is distributed so that each partner may pay their U.S. federal and state income taxes. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. Reclassifications Certain amounts for prior years have been reclassified to conform to the 2009 presentation. Subsequent Events The Company has evaluated subsequent events through February25, 2010, the date these financial statements were issued.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	12 Months Ended Dec. 31, 2009 USD / shares
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents Cash and cash equivalents are recorded at cost plus accrued interest, which approximates market, and have original maturities of three months or less at the date of purchase. Cash and cash equivalents are maintained primarily with a few high-credit quality financial institutions. Short-term Investments Short-term investments are recorded at cost plus accrued interest, which approximates market. Unrealized gains and losses on investments classified as available-for-sale are recorded as a component of accumulated other comprehensive income (loss). Management determines the appropriate classification of its investments at the time of purchase and re-evaluates such determination at each balance sheet date. Inventories Valuation Inventories are stated at the lower of cost or market. Inventories valued using the last-in, first-out (LIFO) method of accounting represent approximately 48% of total inventories as of December31, 2009 (65% as of December31, 2008). All inventories held by the parent company and Nucor-Yamato Steel Company are valued using the LIFO method of accounting except for supplies that are consumed indirectly in the production process, which are valued using the first-in, first-out (FIFO) method of accounting. All inventories held by the parent companys other subsidiaries are valued using the FIFO method of accounting. The Company records any amount required to reduce the carrying value of inventory to net realizable value as a charge to cost of products sold. Property, Plant and Equipment Property, plant and equipment are stated at cost. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets. The costs of planned major maintenance activities are capitalized and amortized over the period until the next scheduled major maintenance activity. All other repairs and maintenance activities are expensed when incurred. Goodwill and Other Intangibles Goodwill is the excess of cost over the fair value of net assets of businesses acquired. Goodwill is not amortized but is tested annually for impairment and whenever events or circumstances change that would make it more likely than not that an impairment may have occurred. We perform our annual impairment analysis as of the first day of the fourth quarter each year. The evaluation of impairment involves comparing the current estimated fair value of each reporting unit to the recorded value, including goodwill. Nucor uses a discounted cash flow model to determine the current estimated fair value of its reporting units. A number of significant assumptions and estimates are involved in the application of the discounted cash flow model to forecast operating cash flows, including market growth and market share, sales volumes and prices, costs to produce, discount rate and estimated capital needs. Management considers historical experience and all available information at the time the fair values of its reporting units are estimated. Assumptions in estimating future cash flows are subject to a high degree of judgment and complexity. Changes in assumptions and estimates may affe

ACQUISITIONS

ACQUISITIONS
	12 Months Ended Dec. 31, 2009 USD / shares
ACQUISITIONS	3. ACQUISITIONS 2008 Nucor completed the acquisition of the stock of SHV North America Corporation, which owns 100% of The David J. Joseph Company (DJJ) and related affiliates, for a purchase price of approximately $1.44 billion in February 2008. DJJ has been the broker of ferrous scrap for Nucor since 1969. In addition to its scrap processing and brokerage operations, DJJ owns over 2,000 scrap-related railcars and provides complete fleet management and logistics services to third parties. Since scrap is Nucors largest single cost, the acquisition of DJJ provides an ideal growth platform for Nucor to expand our direct ownership in the steel scrap supply chain and further our raw materials strategy. We obtained independent appraisals for the purpose of allocating the purchase price to the individual assets acquired and liabilities assumed. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed of DJJ as of the date of acquisition: As of the date of acquisition (inthousands) Current assets $ 758,748 Property, plant and equipment 288,440 Goodwill 837,378 Other intangible assets 449,167 Other assets 6,211 Total assets acquired 2,339,944 Current liabilities (696,000 ) Long-term debt (16,300 ) Deferred credits and other liabilities (184,037 ) Total liabilities assumed (896,337 ) Net assets acquired $ 1,443,607 The purchase price allocation to the identifiable intangible assets is as follows (in thousands, except years): As of the date of acquisition Weighted AverageLife Customer relationships $ 389,200 20years Trade names 56,200 20 years Other 3,767 18 years $ 449,167 20 years Approximately $630.9 million of the goodwill has been allocated to the raw materials segment. The remaining $206.5 million of the goodwill has been allocated to the steel mills segment on the basis that certain cost synergies will benefit these businesses (see Note 8). The results of DJJ have been included in the consolidated financial statements from the date of acquisition. Unaudited pro forma results for Nucor, assuming the acquisition of DJJ occurred at the beginning of each period are as follows: (inthousandsexceptpersharedata) December31, 2008 2007 Net sales $ 24,112,311 $ 18,597,364 Net earnings attributable to Nucor stockholders 1,842,751 1,481,342 Net earnings per share: Basic $ 6.03 $ 4.99 Diluted $ 6.02 $ 4.97 At the beginning of the second quarter of 2008, Nucor acquired substantially all the assets of Metal Recycling Services Inc. (MRS) for approximately $56.6 million. Based in Monroe, North Carolina, MRS, which is now part of DJJ, operates a full-service processing facility and two feeder yards. In April 2008, DJJ acquired substantially all the assets of Galamba Metals Group,

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
SHORT-TERM INVESTMENTS	4. SHORT-TERM INVESTMENTS Nucor held $225.0 million of short-term investments at December31, 2009 (none at December31, 2008). Our investments included $100.0 million in a nine-month Certificate of Deposit (CD) that matures in March 2010 and $50.0 million in a one-year CD that matures in September 2010. Additionally, Nucor invested $50.0 million and $25.0 million in one-year Federal Home Loan Bank (FHLB) investments that mature in July 2010 and August 2010, respectively. FHLB investments are rated AAA which is the highest credit rating available, and they are a direct obligation of the Federal Home Loan Bank. As the interest rate on the CDs and the coupon rate on the FHLBs are fixed at inception, no realized or unrealized gains or losses on these investments were incurred.

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE
	12 Months Ended Dec. 31, 2009 USD / shares
ACCOUNTS RECEIVABLE	5. ACCOUNTS RECEIVABLE An allowance for doubtful accounts is maintained for estimated losses resulting from the inability of our customers to make required payments. Accounts receivable are stated net of the allowance for doubtful accounts of $52.9 million at December31, 2009 ($64.9 million at December31, 2008 and $50.0 million at December31, 2007).

INVENTORIES

INVENTORIES
	12 Months Ended Dec. 31, 2009 USD / shares
INVENTORIES	6. INVENTORIES Inventories consist of approximately 48% raw materials and supplies and 52% finished and semi-finished products at December31, 2009 (47% and 53%, respectively, at December31, 2008). Nucors 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. If the FIFO method of accounting had been used, inventories would have been $456.4 million higher at December31, 2009 ($923.4 million higher at December31, 2008). During 2009, inventory quantities were reduced, resulting in a liquidation of LIFO inventory layers carried at lower costs that prevailed in prior years. The effect of the liquidation was to decrease cost of products sold by $81.5 million in 2009 (no liquidation of LIFO inventory layers occurred in 2008 or 2007). Use of the lower of cost or market method reduced inventories by $9.2 million at December31, 2009 ($51.3 million at December31, 2008). Nucor has entered into supply agreements for certain raw materials, utilities and other items in the ordinary course of business. These agreements extend into 2028 and total approximately $3.53 billion at December31, 2009.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT
	12 Months Ended Dec. 31, 2009 USD / shares
PROPERTY, PLANT AND EQUIPMENT	7. PROPERTY, PLANT AND EQUIPMENT (in thousands) December31, 2009 2008 Land and improvements $ 403,281 $ 363,369 Buildings and improvements 812,130 720,256 Machinery and equipment 7,212,984 6,540,426 Construction in process and equipment deposits 370,040 859,588 8,798,435 8,483,639 Less accumulated depreciation (4,784,599 ) (4,351,778 ) $ 4,013,836 $ 4,131,861 The estimated useful lives range from four to 10 years for land improvements, nine to 31.5 years for buildings and improvements, and two to 15 years for machinery and equipment.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS
	12 Months Ended Dec. 31, 2009 USD / shares
GOODWILL AND OTHER INTANGIBLE ASSETS	8. GOODWILL AND OTHER INTANGIBLE ASSETS The change in the net carrying amount of goodwill for the years ended December31, 2009 and 2008 by segment is as follows: (inthousands) SteelMills Steel Products Raw Materials All Other Total Balance, December31, 2007 $ 2,007 $ 786,491 $ $ 59,389 $ 847,887 Acquisitions 206,459 38,426 665,075 43,284 953,244 Purchase price adjustments of previous acquisitions 5,448 269 5,717 Translation (68,204 ) (68,204 ) Other (6,599 ) (6,599 ) Balance, December31, 2008 208,466 755,562 665,075 102,942 1,732,045 Acquisitions Purchase price adjustments of previous acquisitions 60,000 (19,979 ) (14,090 ) 25,931 Translation 45,045 45,045 Balance, December31, 2009 $ 268,466 $ 780,628 $ 665,075 $ 88,852 $ 1,803,021 The majority of goodwill is not tax deductible. During 2009, $35.3 million of the goodwill originally allocated to the steel products segment and $24.7 million of the goodwill originally allocated to the steel trading businesses included in the all other category for the 2008 acquisition of Ambassador Steel Corporation was reallocated to the steel mills segment, for a total of $60.0 million. The reallocation was made on the basis that expected cost synergies will benefit the steel mills. Intangible assets with estimated lives of five to 22 years are amortized on a straight-line or accelerated basis and are comprised of the following: (inthousands) December31, 2009 2008 Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Customer relationships $ 922,839 $ 142,886 $ 897,477 $ 80,235 Trademarks and trade names 122,136 13,159 118,734 7,150 Other 27,869 13,877 27,869 10,150 $ 1,072,844 $ 169,922 $ 1,044,080 $ 97,535 Intangible asset amortization expense was $72.4 million in 2009 ($69.4 million in 2008 and $24.4 million in 2007). Annual amortization expense is estimated to be $67.2 million in 2010; $63.7 million in 2011; $60.6 million in 2012; $57.1 million in 2013; and $55.1 million in 2014. The Company completed its annual goodwill impairment testing during the fourth quarter of 2009 and concluded that there was no impairment of goodwill for any of its reporting units. The annual evaluation performed in 2009 used forward-looking projections and included significant expected improvements in the future cash flows of two of the Companys reporting units, Buildings Gro

EQUITY INVESTMENTS

EQUITY INVESTMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
EQUITY INVESTMENTS	9. EQUITY INVESTMENTS The carrying value of our equity investments in domestic and foreign companies was $582.5 million at December31, 2009 ($626.4 million at December31, 2008) and is recorded in other assets in the consolidated balance sheets. Aggregated summarized combined financial information for Nucors equity investments is presented in the following table. Summarized combined financial information is included for investees only for the period of ownership by Nucor. (inthousands) December31, 2009 2008 2007 Results of Operations: Sales $ 464,489 $ 558,103 $ 103,856 Cost of products sold 672,928 586,837 206,413 Gross margin (208,439 ) (28,734 ) (102,557 ) Net earnings (loss) (179,271 ) (94,830 ) (120,540 ) December31, 2009 2008 Balance Sheet: Current assets $ 385,938 $ 524,774 Non-current assets 899,440 725,767 Current liabilities 304,687 413,432 Non-current liabilities 382,898 201,834 Stockholders equity 597,793 635,275 In 2008, Nucor acquired a 50% economic and voting interest in Duferdofin Nucor S.r.l., an Italian steel manufacturer. Nucor accounts for the investment in Duferdofin Nucor (on a one-month lag basis) under the equity method, as control and risk of loss are shared equally between the members. Nucors investment in Duferdofin Nucor at December31, 2009 was $534.0 million ($581.9 million at December31, 2008). Nucors 50% share of the total net assets of Duferdofin Nucor was $32.1 million at December31, 2009, resulting in a basis difference of $501.8 million due to the step-up to fair value of certain assets and liabilities attributable to Duferdofin Nucor as well as the identification of goodwill ($347.9 million) and finite-lived intangible assets. This basis difference, excluding the portion attributable to goodwill, is being amortized based on the remaining estimated useful lives of the various underlying net assets, as appropriate. Amortization expense and other purchase accounting adjustments associated with the fair value step-up was $30.8 million in 2009 ($63.9 million in 2008). As of December31, 2009, Nucor held notes receivable from Duferdofin Nucor with a notional value of 35million ($50.4 million). The notes receivable bear interest at the twelve-month Euro Interbank Offered Rate (Euribor) as of the date of the notes plus 1%per year. The interest rates were reset on September30, 2009 to the Euribor twelve month rate as of that date plus 1%per year. The principal amount of 9million ($13.0 million) is due on April30, 2011. The remaining principal amount of 26million ($37.4 million) is due on May31, 2011. Accordingly, the notes receivable were classified in other assets in the consolidated balance sheets. Nucor reviews its equity investments for impairment if and when circumstances indicate a potential loss in value of an inves

CURRENT LIABILITIES

CURRENT LIABILITIES
	12 Months Ended Dec. 31, 2009 USD / shares
CURRENT LIABILITIES	10. CURRENT LIABILITIES Book overdrafts, included in accounts payable in the consolidated balance sheets, were $73.7 million at December31, 2009 ($62.1 million at December31, 2008). Dividends payable, included in accrued expenses and other current liabilities in the consolidated balance sheets, were $114.2 million at December31, 2009 ($110.5 million at December31, 2008)

DEBT AND OTHER FINANCING ARRANG

DEBT AND OTHER FINANCING ARRANGEMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
DEBT AND OTHER FINANCING ARRANGEMENTS	11. DEBT AND OTHER FINANCING ARRANGEMENTS (inthousands) December31, 2009 2008 Industrial revenue bonds: 0.28% to 1.9%, variable, due from 2010 to 2038 $ 436,200 $ 441,600 Notes, 6%, due 2009 175,000 Notes, 4.875%, due 2012 350,000 350,000 Notes, 5.0%, due 2012 300,000 300,000 Notes, 5.0%, due 2013 250,000 250,000 Notes, 5.75%, due 2017 600,000 600,000 Notes, 5.85%, due 2018 500,000 500,000 Notes, 6.40%, due 2037 650,000 650,000 3,086,200 3,266,600 Less current maturities (6,000 ) (180,400 ) $ 3,080,200 $ 3,086,200 Annual aggregate long-term debt maturities are: $6.0 million in 2010; none in 2011; $650.0 million in 2012; $250.0 million in 2013; $3.3 million in 2014; and $2.177 billion thereafter. In June 2008, Nucor issued $1.00 billion in debt in three tranches: $250 million 5% notes due 2013, $500 million 5.85% notes due 2018 and $250 million 6.4% notes due 2037. Net proceeds of the issuance were $982.8 million. Discount and issuance costs of $17.2 million have been capitalized as a component of other assets related to this debt and are amortized over the respective lives of the notes. During the first half of 2008, Nucor issued and repaid $800 million of commercial paper, which had maturities of up to 90 days. In June 2008, Nucor received increased commitments under the unsecured revolving credit facility to provide for up to $1.30 billion in revolving loans. The amended multi-year revolving credit agreement matures in November 2012 and was further amended in June 2008 to allow up to $200.0 million in additional commitments at Nucors election in accordance with the terms set forth in the credit agreement. Up to the equivalent of $850.0 million of the credit facility is available for foreign currency loans, and up to $500.0 million is available for the issuance of letters of credit. The credit facility provides for a pricing grid based upon the credit rating of Nucors senior unsecured long-term debt and, alternatively, interest rates quoted by lenders in connection with competitive bidding. The credit facility includes customary financial and other covenants, including a limit on the ratio of funded debt to capital of 60%, a limit on Nucors ability to pledge the Companys assets and a limit on consolidations, mergers and sales of assets. As of December31, 2009, Nucors funded debt to total capital ratio was 29%, and Nucor was in compliance with all covenants under the credit facility. No borrowings were outstanding under the credit facility as of December31, 2009 and 2008. Harris Steel has credit facilities totaling approximately $48.8 million, with no borrowings outstanding at December31, 2009 and 2008. In addition, the business of Nucor Trading S.A., of which Harris Steel owns 75%, is financed by trade credit arrangements totaling approximately $115.0 million with a number of Swiss-based banking institutions. These arrangements, principally trade finance

CAPITAL STOCK

CAPITAL STOCK
	12 Months Ended Dec. 31, 2009 USD / shares
CAPITAL STOCK	12. CAPITAL STOCK The par value of Nucors common stock is $0.40 per share and there are 800million shares authorized. In addition, 250,000 shares of preferred stock, par value of $4.00 per share, are authorized, with preferences, rights and restrictions as may be fixed by Nucors board of directors. There are no shares of preferred stock issued or outstanding. In May 2008, Nucor completed a public offering of approximately 27.7million common shares at an offering price of $74.00 per share. Net proceeds of the offering were approximately $1.99 billion, after deducting underwriting discounts and commissions and offering expenses.

STOCKHOLDER RIGHTS PLAN

STOCKHOLDER RIGHTS PLAN
	12 Months Ended Dec. 31, 2009 USD / shares
STOCKHOLDER RIGHTS PLAN	13. STOCKHOLDER RIGHTS PLAN In 2001, the board of directors adopted a Stockholder Rights Plan (Plan) in which one right (Right) was distributed as a dividend for each Nucor common share outstanding. The Plan was amended in 2006 to adjust the purchase price of the Rights for stock splits effected since adoption of the Plan. Each Right entitles Nucor common stockholders to purchase, under certain conditions, one five-thousandth of a share of newly authorized Series A Junior Participating Preferred Stock (Preferred Stock), with one five-thousandth of a share of Preferred Stock intended to be the economic equivalent of one share of Nucor common stock. Until the occurrence of certain events, the Rights are represented by and traded in tandem with Nucor common stock. Rights will be exercisable only if a person or group acquires beneficial ownership of 15% or more of the Nucor common shares or commences a tender or exchange offer, upon the consummation of which such person or group would beneficially own 15% or more of the common shares. Upon such an event, the Rights enable dilution of the acquiring persons or groups interest by providing that other holders of Nucor common stock may purchase, at an exercise price of $150, Nucor common stock, or in the discretion of the board of directors, Preferred Stock, having double the value of such exercise price. Nucor will be entitled to redeem the Rights at $0.001 per Right under certain circumstances set forth in the Plan. The Rights themselves have no voting power and will expire on March8, 2011, unless earlier exercised, redeemed or exchanged. Each one five-thousandth of a share of Preferred Stock has the same voting rights as one share of Nucor common stock, and each share of Preferred Stock has 5,000 times the voting power of one share of Nucor common stock.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
DERIVATIVE FINANCIAL INSTRUMENTS	14. DERIVATIVE FINANCIAL INSTRUMENTS The following table summarizes information regarding the fair value of Nucors derivative instruments: (inthousands) December31, 2009 Balance Sheet Location Fair Value Asset derivatives not designated as hedging instruments: Foreign exchange contracts Other current assets $445 Liability derivatives designated as hedging instruments: Commodity contracts Accrued expenses and other current liabilities $(23,000) Commodity contracts Deferred credits and other liabilities (72,900) Total liability derivatives designated as hedging instruments (95,900) Liability derivatives not designated as hedging instruments: Commodity contracts Accrued expenses and other current liabilities (3,665) Total liability derivatives $(99,565) The following tables summarize the effect of derivative instruments on the consolidated statements of earnings: Year Ended December31, 2009 Derivatives in CashFlowHedging Relationships Statementof EarningsLocation AmountofGainor (Loss)Recognized in OCI on Derivative (Effective Portion) AmountofGainor (Loss)Reclassified from Accumulated OCI into Earnings (Effective Portion) AmountofGain or(Loss)Recognized in Earnings on Derivative (Ineffective Portion) Commodity contracts Cost of products sold $(48,616) $(40,543) $(1,700) Year Ended December31, 2009 Derivatives Not Designated as Hedging Instruments Statement of Earnings Location AmountofGainor (Loss) Recognized in Earnings on Derivative Commodity contracts Cost of products sold $(4,887) Foreign exchange contracts Cost of products sold (3,050) Total $(7,937) At December31, 2009, natural gas swaps covering 38.9million MMBTUs and foreign currency contracts with a notional value of $13.3 million were outstanding. At December31, 2009, $29.8 million of net deferred losses on cash flow hedges on natural gas forward purchase contracts included in accumulated other comprehensive income are expected to be reclassified into earnings, due to the settlement of forecasted transactions, during the next twelve months assuming no change in the forward commodity prices from December31, 2009. Nucor is hedging a portion of its exposure to the variability of future cash flows for forecasted natural gas purchases over various time periods not exceeding three years. Nucor has also entered into various natural gas purchase contracts, which effectively commit Nucor to the following purchases of natural gas to be used for production: $110.2 million in 2010; $64.2 million in 2011; $41.7 million in 2012; $29.9 million in 2013; $29.0 million in 2014; and $430.0 million between 2015 and 2028. These natural gas purchase contracts will primarily supply our direct reduced iron facility in Trinidad. In the first half of 2008, the Company entered into a series of forward foreign currency contracts in order to mitigate t

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
FAIR VALUE MEASUREMENTS	15. FAIR VALUE MEASUREMENTS The following table summarizes information regarding Nucors financial assets and financial liabilities that are measured at fair value as of December31, 2009. Nucor does not currently have any non-financial assets or liabilities that are measured at fair value on a recurring basis. (inthousands) FairValueMeasurementsatReportingDateUsing As of December31, Carrying Amount in Consolidated BalanceSheets Quoted Prices in ActiveMarketsfor Identical Assets (Level 1) Significant Other ObservableInputs (Level 2) Significant Unobservable Inputs (Level3) 2009 Assets: Cash equivalents $ 1,907,066 $ 1,907,066 $ Short-term investments 225,000 225,000 Derivatives 445 445 Total assets $ 2,132,511 $ 2,132,066 $ 445 Liabilities: Derivatives $ (99,565 ) $ (99,565 ) 2008 Assets: Cash equivalents $ 2,269,725 $ 2,269,725 Liabilities: Derivatives $ (98,127 ) $ (98,127 ) Fair value measurements for Nucors cash equivalents and short-term investments are classified under Level 1 because such measurements are based on quoted market prices in active markets for identical assets. Fair value measurements for Nucors derivatives 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. The fair value of long-term debt, including current maturities, was approximately $3.30 billion at December31, 2009 ($3.13 billion at December31, 2008). The fair value estimates were based on readily available market prices of our debt at December31, 2009 and 2008, or similar debt with the same maturities, rating and interest rates.

CONTINGENCIES

CONTINGENCIES
	12 Months Ended Dec. 31, 2009 USD / shares
CONTINGENCIES	16. CONTINGENCIES Nucor is subject to environmental laws and regulations established by federal, state and local authorities, and, accordingly, makes provision for the estimated costs of compliance. Of the undiscounted total of $37.4 million of accrued environmental costs at December31, 2009 ($27.1 million at December31, 2008), $15.9 million was classified in accrued expenses and other current liabilities ($16.1 million at December31, 2008) and $21.5 million was classified in deferred credits and other liabilities ($11.0 million at December31, 2008). Inherent uncertainties exist in these estimates primarily due to unknown conditions, evolving remediation technology, and changing governmental regulations and legal standards. During 2009 Nucor revised estimates as additional information was obtained and projects were completed, decreasing environmental reserves by $0.3 million (increasing reserves by $1.0 million in 2008 and by $1.2 million in 2007). The revisions are included in cost of products sold. Nucor has been named, along with other major steel producers, as a co-defendant in several related antitrust class-action complaints filed by Standard Iron Works and other steel purchasers in the United States District Court for the Northern District of Illinois. The cases are filed as class actions. The plaintiffs allege that from January 2005 to the present eight steel manufacturers, including Nucor, engaged in anticompetitive activities with respect to the production and sale of steel. The plaintiffs seek monetary and other relief. Although we believe the plaintiffs claims are without merit and will vigorously defend against them, we cannot at this time predict the outcome of this litigation or determine Nucors potential exposure. Other contingent liabilities with respect to product warranties, legal proceedings and other matters arise in the normal course of business. Nucor maintains liability insurance for certain risks that arise that are also subject to certain self-insurance limits. In the opinion of management, no such matters exist which, in the event of an unfavorable outcome, would have a material effect on the consolidated financial statements.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION
	12 Months Ended Dec. 31, 2009 USD / shares
STOCK-BASED COMPENSATION	17. STOCK-BASED COMPENSATION Stock Options Nucors stock option plans provide that common stock options may be granted to key employees, officers and non-employee directors with exercise prices at 100% of the market price on the date of the grant. Outstanding options are exercisable six months after the grant date and have a term of seven years. Nucor did not grant any options during 2009, 2008 or 2007. A summary of activity under Nucors stock option plans is as follows: (shares in thousands) Year Ended December31, 2009 2008 2007 Shares Weighted- Average Exercise Price Shares Weighted- Average Exercise Price Shares Weighted- Average Exercise Price Number of shares under option: Outstanding at beginning of year 1,299 $ 20.80 1,852 $ 20.37 2,461 $ 20.21 Granted Exercised (239 ) $ 15.69 (553 ) $ 19.36 (609 ) $ 19.70 Canceled Outstanding at end of year 1,060 $ 21.95 1,299 $ 20.80 1,852 $ 20.37 Options exercisable at end of year 1,060 $ 21.95 1,299 $ 20.80 1,852 $ 20.37 Since Nucor began granting restricted stock units in 2006 in lieu of stock options, the shares reserved for future grants as of December31, 2009, 2008 and 2007 are reflected in the restricted stock units table located at the end of this note. The total intrinsic value of options (the amount by which the stock price exceeded the exercise price of the option on the date of exercise) that were exercised during 2009 was $7.0 million ($25.4 million in 2008 and $26.5 million in 2007). The following table summarizes information about stock options outstanding at December31, 2009 (shares in thousands): OptionsOutstandingandExercisable Range of Exercise Prices NumberOutstanding and Exercisable Weighted-Average Remaining Contractual Life Weighted-Average Exercise Price $10.00 $15.00 225 0.5years $12.04 15.01 20.00 372 1.5years $18.30 20.01 25.00 25.01 30.73 463 2.4years $29.72 $10.00 $30.73 1,060 1.7years $21.95 The total aggregate intrinsic value of options outstanding and options exercisable as of December31, 2009 was $26.2 million. Restricted Stock Awards Nucors Senior Officers Long-Term Incentive Plan (the LTIP) and Annual Incentive Plan (the AIP) authorize the award of shares of common stock to officers subject to certain conditions and restrictions. The LTIP provides for the award of shares of restricted common stock at the end of each LTIP performance measurement period at no cost to officers if certain financial performance goals are met during the period. One-third of the LTIP restricted stock award vests upon each of the first three anniversaries of the award date or, if earlier, upon the officers attainment of age fifty-five while empl

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS
	12 Months Ended Dec. 31, 2009 USD / shares
EMPLOYEE BENEFIT PLANS	18. EMPLOYEE BENEFIT PLANS Nucor makes contributions to a Profit Sharing and Retirement Savings Plan for qualified employees based on the profitability of the company. Nucors expense for these benefits totaled $9.6 million in 2009 ($281.3 million in 2008 and $229.9 million in 2007). The related liability for these benefits is included in salaries, wages and related accruals. Nucor also has a medical plan covering certain eligible early retirees. The unfunded obligation, included in deferred credits and other liabilities in the balance sheet, totaled $44.6 million at December31, 2009 ($45.9 million at December31, 2008). Expense associated with this plan totaled $1.9 million in 2009 ($2.7 million in 2008 and $3.4 million in 2007). The discount rate used was 6.0% in 2009 (6.4% in 2008 and 6.5% in 2007). The health care cost increase trend rate used was 6.9% in 2009 (7.5% in 2008 and 8% in 2007). The health care cost increase in the trend rate is projected to decline gradually to 4.5% by 2027.

INTEREST EXPENSE

INTEREST EXPENSE (INCOME)
	12 Months Ended Dec. 31, 2009 USD / shares
INTEREST EXPENSE (INCOME)	19. INTEREST EXPENSE (INCOME) The components of net interest expense are as follows: (inthousands) Year Ended December31, 2009 2008 2007 Interest expense $ 149,922 $ 134,554 $ 51,106 Interest income (15,170 ) (44,071 ) (45,637 ) Interest expense, net $ 134,752 $ 90,483 $ 5,469 Interest paid was $158.7 million in 2009 ($146.1 million in 2008 and $46.8 million in 2007).

INCOME TAXES

INCOME TAXES
	12 Months Ended Dec. 31, 2009 USD / shares
INCOME TAXES	20. INCOME TAXES Components of earnings (loss) from continuing operations before income taxes and noncontrolling interests are as follows: (inthousands) Year Ended December31, 2009 2008 2007 United States $ (353,463 ) $ 3,082,536 $ 2,512,067 Foreign (60,515 ) 21,855 34,749 $ (413,978 ) $ 3,104,391 $ 2,546,816 The provision for income taxes consists of the following: (inthousands) Year Ended December31, 2009 2008 2007 Current: Federal $ (258,683 ) $ 1,090,099 $ 762,045 State (22,274 ) 114,972 73,435 Foreign 15,611 47,885 27,094 Total current (265,346 ) 1,252,956 862,574 Deferred: Federal 115,630 (238,899 ) (57,845 ) State (10,354 ) (14,505 ) (4,500 ) Foreign (16,730 ) (40,072 ) (18,861 ) Total deferred 88,546 (293,476 ) (81,206 ) Total provision for income taxes $ (176,800 ) $ 959,480 $ 781,368 A reconcilliation of the federal statutory tax rate (35%)to the total provision is as follows: Year Ended December31, 2009 2008 2007 Taxes computed at statutory rate 35.00 % 35.00 % 35.00 % State income taxes, net of federal income tax benefit 5.12 2.10 1.76 Federal research credit 0.84 (0.05 ) (0.06 ) Domestic manufacturing deduction (0.13 ) (1.99 ) (1.79 ) Equity in losses of foreign joint venture (5.93 ) (0.07 ) Foreign rate differential 2.79 (0.88 ) (0.12 ) Noncontrolling interests 4.77 (3.54 ) (4.03 ) Other, net 0.25 0.27 (0.01 ) Provision for income taxes 42.71 % 30.91 % 30.68 % Deferred tax assets and liabilities resulted from the following: Year Ended December31, 2009 2008 Deferred tax assets: Accrued liabilities and reserves $ 142,864 $ 130,022 Allowance for doubtful accounts 11,807 17,019 Inventory 166,378 269,178 Post-retirement benefits 18,913 16,407 Natural gas hedges 50,204 33,905 Net operating loss carryforward 46,504 20,857 Cumulative translation adjustments 2,126 Tax credit carryforwards 24,000 24,000 Total deferred tax assets 460,670 513,514 Deferred tax liabilities: Cumulative translation adjustment (911 ) Holdbacks and amounts not due under contracts (17,276 ) (20,459 ) Intangibles (260,578 ) (262,732 ) Property, plant and equipment (299,326 ) (2

EARNINGS

EARNINGS (LOSS) PER SHARE
	12 Months Ended Dec. 31, 2009 USD / shares
EARNINGS (LOSS) PER SHARE	21. EARNINGS (LOSS) PER SHARE The computations of basic and diluted earnings per share are as follows: (in thousands, except per share data) December31, 2009 2008 2007 Basic net earnings (loss) per share: Basic net earnings (loss) $ (293,613 ) $ 1,830,990 $ 1,471,947 Earnings (loss) allocated to participating securities (1,946 ) (6,797 ) (4,240 ) Net earnings (loss) available to common stockholders $ (295,559 ) $ 1,824,193 $ 1,467,707 Average shares outstanding 314,873 304,525 295,779 Basic net earnings (loss) per share $ (0.94 ) $ 5.99 $ 4.96 Diluted net earnings (loss) per share: Diluted net earnings (loss) $ (293,613 ) $ 1,830,990 $ 1,471,947 Earnings (loss) allocated to participating securities (1,946 ) (6,484 ) (4,231 ) Net earnings (loss) available to common stockholders $ (295,559 ) $ 1,824,506 $ 1,467,716 Diluted average shares outstanding: Basic shares outstanding 314,873 304,525 295,779 Dilutive effect of stock options and other 481 1,235 314,873 305,006 297,014 Diluted net earnings (loss) per share $ (0.94 ) $ 5.98 $ 4.94 The number of shares that were not included in the diluted net earnings per share calculation because to do so would have been antidilutive was immaterial for all periods presented.

SEGMENTS

SEGMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
SEGMENTS	22. 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, and Nucors equity investment in Duferdofin Nucor. The steel products segment includes steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finish steel, steel fasteners, metal building systems, light gauge steel framing, steel grating and expanded metal, and wire and wire mesh. The raw materials segment includes DJJ, the scrap broker and processor that Nucor acquired on February29, 2008; Nu-Iron Unlimited, a facility that produces direct reduced iron used by the steel mills; a proposed iron-making facility; and certain equity method investments. The All other category primarily includes Nucors steel trading businesses. The segments are consistent with the way Nucor manages its business, which is primarily based upon the similarity of the types of products produced and sold by each segment. Net interest expense, other income, profit sharing expense, stock-based compensation, gains on foreign currency exchange contracts and changes in the LIFO reserve are shown under Corporate/eliminations. Corporate assets primarily include cash and cash equivalents, short-term investments, allowances to eliminate intercompany profit in inventory, fair value of natural gas hedges, deferred income tax assets, federal income taxes receivable or payable, LIFO reserve and investments in and advances to affiliates. Nucors segment results are as follows: (in thousands) Year Ended December31, 2009 2008 2007 Net sales to external customers: Steel mills $ 7,159,512 $ 16,477,900 $ 13,311,212 Steel products 2,691,322 4,339,524 3,051,648 Raw materials 1,076,964 2,403,075 All other 262,498 442,825 230,116 $ 11,190,296 $ 23,663,324 $ 16,592,976 Intercompany sales: Steel mills $ 1,027,167 $ 2,165,459 $ 1,313,337 Steel products 27,453 45,745 36,101 Raw materials 3,402,084 7,584,685 322,016 All other 10,888 10,069 18,671 Corporate/eliminations (4,467,592 ) (9,805,958 ) (1,690,125 ) $ $ $ Depreciation expense: Steel mills $ 357,722 $ 360,140 $ 351,565 Steel products 57,988 51,403 31,089 Raw materials 75,699 66,845 19,593 All other 105 210 99 Corporate 2,521 886 826 $ 494,035 $ 479,484 $ 403,172 Amortization expense: Steel mills $ 400 $ 400 $ 400 Steel products 40,705 43,980 23,984 Raw materials 30,412 24,758 All other 871 285 Corporate

QUARTERLY INFORMATION

QUARTERLY INFORMATION (UNAUDITED)
	12 Months Ended Dec. 31, 2009 USD / shares
QUARTERLY INFORMATION (UNAUDITED)	23. QUARTERLY INFORMATION (UNAUDITED) (inthousands,exceptpersharedata) Year Ended December31, FirstQuarter SecondQuarter ThirdQuarter FourthQuarter 2009 Net sales $ 2,654,319 $ 2,478,028 $ 3,120,005 $ 2,937,944 Gross margin(1) (124,005 ) (61,876 ) 119,154 221,120 Net earnings (loss) (190,525 ) (127,769 ) (5,311 ) 86,427 Net earnings (loss) attributable to Nucor stockholders (189,645 ) (133,337 ) (29,538 ) 58,907 Net earnings (loss) per share: Basic (0.60 ) (0.43 ) (0.10 ) 0.19 Diluted (0.60 ) (0.43 ) (0.10 ) 0.18 2008 Net sales $ 4,974,269 $ 7,090,599 $ 7,447,520 $ 4,150,936 Gross margin(2) 902,677 1,210,944 1,457,113 480,307 Net earnings(3) 501,525 668,690 810,803 163,893 Net earnings attributable to Nucor stockholders(3) 409,754 580,754 734,590 105,892 Net earnings per share: Basic 1.42 1.94 2.31 0.34 Diluted 1.41 1.94 2.31 0.34 (1) Nucor incurred LIFO credits of $105.0 million, $125.0 million, $120.0 million and $116.9 million in the first, second, third and fourth quarters of 2009, respectively. Nucor also incurred charges of $59.6 million in the first quarter for writing down inventory to the lower of cost or market. (2) Nucor incurred LIFO charges of $69.0 million, $214.0 million and $140.0 million in the first, second and third quarters, respectively, and incurred a LIFO credit of $81.2 million in the fourth quarter. Nucor also incurred charges of $6.5 million in the third quarter and $42.4 million in the fourth quarter for writing down inventory to the lower of cost of market. (3) The fourth quarter includes $105.2 million in charges for impairment of non-current assets.

Document Information

Document Information
	12 Months Ended Dec. 31, 2009 USD / shares
Document Type	10-K
Amendment Flag	false
Document Period End Date	2009-12-31

Entity Information

Entity Information (USD $)
	12 Months Ended Dec. 31, 2009	Feb. 19, 2010	Jul. 04, 2009
Trading Symbol	NUE
Entity Registrant Name	NUCOR CORP
Entity Central Index Key	0000073309
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		314,915,594
Entity Public Float			$13,220,000,000