Nucor 2013 Annual Report Download - page 72

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71
Net interest expense, other income, profit sharing expense, stock-based compensation and changes in the LIFO reserve are shown
under Corporate/eliminations. Corporate assets primarily include cash and cash equivalents, short-term investments, restricted
cash and investments, allowances to eliminate intercompany profit in inventory, fair value of natural gas hedges, deferred income
tax assets, federal and state income taxes receivable, the LIFO reserve and investments in and advances to affiliates.
Nucor’s results by segment are as follows:
(in thousands)
Year Ended December 31, 2013 2012 2 011
Net sales to external customers:
Steel mills $13,311,948 $13,781,797 $14,463,683
Steel products 3,607,333 3,738,381 3,431,490
Raw materials 2,132,765 1,909,095 2,128,391
$19,052,046 $19,429,273 $20,023,564
Intercompany sales:
Steel mills $ 2,563,554 $ 2,609,411 $ 2,430,459
Steel products 97,090 71,277 55,646
Raw materials 9,116,860 9,514,163 10,436,379
Corporate/eliminations (11,777,504) (12,194,851) (12,922,484)
$ — $ — $ —
Depreciation expense:
Steel mills $ 332,258 $ 366,182 $ 372,040
Steel products 42,737 47,948 53,272
Raw materials 154,065 112,939 92,250
Corporate 6,792 6,941 5,009
$ 535,852 $ 534,010 $ 522,571
Amortization expense:
Steel mills $ 13,911 $ 8,750 $ 871
Steel products 31,082 35,152 38,743
Raw materials 29,363 29,109 28,215
Corporate — — —
$ 74,356 $ 73,011 $ 67,829
Earnings (loss) before income taxes
and noncontrolling interests:
Steel mills $ 1,156,715 $ 1,162,270 $ 1,813,155
Steel products 82,129 (17,140) (60,282)
Raw materials 13,686 55,264 156,180
Corporate/eliminations (461,407) (347,454) (657,241)
$ 791,123 $ 852,940 $ 1,251,812
Segment assets:
Steel mills $ 8,365,023 $ 7,894,974 $ 6,634,268
Steel products 2,861,403 2,935,146 2,972,004
Raw materials 3,956,913 3,400,690 2,946,549
Corporate/eliminations 19,944 (78,751) 2,017,529
$15,203,283 $14,152,059 $14,570,350
Capital expenditures:
Steel mills $ 589,621 $ 369,463 $ 181,193
Steel products 22,472 31,698 20,918
Raw materials 610,745 604,312 245,337
Corporate 7,580 13,861 3,179
$ 1,230,418 $ 1,019,334 $ 450,627