Nucor 2013 Annual Report Download - page 4

FORWARD-LOOKING STATEMENTS Certain statements made in this annual report are forward-looking statements that involve risks and uncertainties.
The words “believe,” “expect,” “project,” “will,” “should,” “could” and similar expressions are intended to identify those forward-looking statements. These
forward-looking statements reflect the Company’s best judgment based on current information, and although we base these statements on circumstances
that we believe to be reasonable when made, there can be no assurance that future events will not affect the accuracy of such forward-looking information.
As such, the forward-looking statements are not guarantees of future performance, and actual results may vary materially from the projected results and
expectations discussed in this report. Factors that might cause the Company’s actual results to differ materially from those anticipated in forward-looking
statements include, but are not limited to: (1) the sensitivity of the results of our operations to prevailing steel prices and changes in the supply and cost
of raw materials, including pig iron, iron ore and scrap steel; (2) availability and cost of electricity and natural gas which could negatively affect our cost
of steel production or could result in a delay or cancelation of existing or future drilling within our natural gas working interest drilling programs; (3) critical
equipment failures and business interruptions; (4) market demand for steel products, which, in the case of many of our products, is driven by the level
of nonresidential construction activity in the U.S.; (5) competitive pressure on sales and pricing, including pressure from imports and substitute materials;
(6) impairment in the recorded value of inventory, equity investments, fixed assets, goodwill or other long-lived assets; (7) uncertainties surrounding the
global economy, including the severe economic downturn in construction markets and excess world capacity for steel production; (8) fluctuations in currency
conversion rates; (9) U.S. and foreign trade policies affecting steel imports or exports; (10) significant changes in laws or government regulations affecting
environmental compliance, including legislation and regulations that result in greater regulation of greenhouse gas emissions that could increase our energy
costs and our capital expenditures and operating costs or cause one or more of our permits to be revoked or make it more difficult to obtain permit
modifications; (11) the cyclical nature of the steel industry; (12) capital investments and their impact on our performance; and (13) our safety performance.
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FINANCIAL HIGHLIGHTS
FI N A N C I A L H I G H L I G H T S (dollar and share amounts in thousands, except per share data)
2013 2012 % CHANGE
FOR THE YEAR
Net sales $19,052,046 $19,429,273 -2%
Earnings:
Earnings before income taxes and noncontrolling interests 791,123 852,940 -7%
Provision for income taxes 205,594 259,814 -21%
Net earnings 585,529 593,126 -1%
Earnings attributable to noncontrolling interests 97,504 88,507 10%
Net earnings attributable to Nucor stockholders 488,025 504,619 -3%
Per share:
Basic 1.52 1.58 -4%
Diluted 1.52 1.58 -4%
Dividends declared per share 1.4725 1.4625 1%
Percentage of net earnings to net sales 2.6% 2.6%
Return on average stockholders’ equity 6.4% 6.7%
Capital expenditures 1,230,418 1,019,334 21%
Depreciation 535,852 534,010 —
Acquisitions (net of cash acquired) — 760,833 not meaningful
Sales per employee 859 906 -5%
AT YEAR END
Working capital $ 4,449,830 $ 3,631,796 23%
Property, plant and equipment, net 4,917,024 4,283,056 15%
Long-term debt (including current maturities) 4,380,200 3,630,200 21%
Total Nucor stockholders’ equity 7,645,769 7,641,571 —
Per share 24.02 24.06 —
Shares outstanding 318,328 317,663 —
Employees 22,300 22,200 —