Nucor 2014 Annual Report Download

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2014
ANNUAL
REPORT
JESSE MOORE
JESSE MOORE JR
JESSE D MOORE
JULIUS JERMAINE MOORE
JUSTIN B MOORE
JUSTIN HEATH MOORE
KENNETH R MOORE
KURT MOORE
KYLE MOORE
LAUREL M MOORE
LAWRENCE A MOORE
LORI C MOORE
LORNA J MOORE
MARCUS C MOORE
MICHAEL D MOORE
NICOLAS MOORE
RAYMOND DALE MOORE
RICHARD D MOORE
RICHARD WAGNER MOORE II
ROBERT G MOORE
RUSSELL MOORE
RUSSELL L MOORE
SANDRA A MOORE
SHANE E MOORE
SPENCER MOORE
TREVOR MOORE
TYRONE MOORE
WARREN MOORE
WILLIAM A MOORE
WILLIAM G MOORE
KELLY B MOOREFIELD
MATHEW N MOOREHEAD
EDWARD MOORER
LATONYA W MOORER
RODNEY MOORER
BLAKE MOORING
ROBERT WAYNE MOORING
CHARLES MOORMAN
GOVARDHANAN MOORTHY
CIRIACO MORA
MANUEL MORA
VALERIE MORAIS
DANIEL MORALES
DARRELL P MORALES
EDWARD MORALES
ENRIQUE MORALES
FRANCISCO J MORALES
HECTOR N MORALES
HUGO MORALES
JONATHAN AARON MORALES
JOSE MORALES
JOSE MORALES
JUAN MORALES
MICHAEL MORALES II
ROBERT MORALES
SALVADOR MORALES
STACIE MOR ALES
VICTOR MORALES HONEYCUTT
DANIEL MORALES SANCHEZ
RAMON MORALES-TAFOLLA
EULALIO MORAN
PATRICK J MORAN
ALLAN MORAN ARCHILA
LUIS MORAN TORRES
ANTHONY M MORDEN
THOMAS MORDEN
GERALD W MOREE
MARK W MOREE
BRUCE MOREFIELD
DANIEL MOREHOUSE
DIANA N MOREHOUSE
PATRICK N MOREHOUSE
ROBIN A MOREHOUSE
JOSE H MOREIRA
DONALD G MORELAND
GREG MORELL
DANIEL MORENO
GARY MORENO
GERALD MORENO
HUGO MORENO
JORDON M MORENO
ROBERTO MORENO
MARIA MORENO LUNA
RAMON MORENO MARTINEZ
ADAN MORENO MORA
BENJAMIN MORENO MORA
JORGE MORENO-TOTOTZINTLE
DOROTHY MORENSKI
FRANCIS KATHERI MORENTE
YOSLAY GONZALEZ MORERA
ANDREA G MORGAN
ARTHUR LEE MORGAN
BRADLEY D MORGAN
DALE MORGAN
DARRELL W MORGAN
DENNIS L MORGAN
HEATH A MORGAN
JAMES A MORGAN JR
JOEY MORGAN
JOHN A MORGAN
KARL W MORGAN
KENNETH M MORGAN
KIRK A MORGAN
MARHARYTA MORGAN
MELINDA L MORGAN
PAUL THOMAS MORGAN
RICHARD HEATH MORGAN
RYAN MORGAN
STEVEN MICHAEL MORGAN JR
THOMAS MORGAN
THOMAS W MORGAN
TONY A MORGAN
WILLIAM DANIEL MORGAN
ALEX MORICZ
JAMIE MORIN
MICHEL MORIN
RALPH D MORIN
RENE MORIN JR
CRAIG MORLEY
SHARI M MORLEY
STANLEY W MORLEY
DAVID A MORNINGSTAR
LASHANA R MORPHEW
GARRETT JOHNSON MORPHIS
MARCELINO MORQUECHO JR
JOHN MORREL
R WAYNE MORRELL
DANIEL HEATH MORRIES
ANGELA L MORRIS
ANNA CHRISTINE MORRIS
BENJAMIN S MORRIS II
BRENT MICHAEL MORRIS
BRYDEN T MORRIS
CHARLES LEWIS MORRIS
CINDY MORRIS
CLAY D MORRIS
CLIFFORD LEON MORRIS
DANIEL STEPHEN MORRIS
DAVID C MORRIS
DENNIS J MORRIS
ELEY J MORRIS JR
GARY L MORRIS
ISAIAH R MORRIS
JACK M MORRIS
JANIS C MORRIS
JARED G MORRIS
JAY MORRIS
JAY W MORRIS
JOY L MORRIS
KAREN TERRI MORRIS
LABRINA S MORRIS
MICHAEL MORRIS
MICHAEL H MORRIS
MICHAEL H MORRIS II
MICHAEL JOE MORRIS
PAUL MORRIS
RICHARD K MORRIS
ROBERT HILL MORRIS
RODNEY MORRIS
RYAN D MORRIS
SEAN MORRIS
SHANNON HARMON MORRIS
TIMOTHY M MORRIS
TOMMY J MORRIS
DONALD MORRISH
ANTHONY MORRISON
JACK E MORRISON
JOHN M MORRISON
JOHN S MORRISON III
MARY C MORRISON
MICHAEL MORRISON
JACOB MORRISSEY
CINDY J MORROW
CURTIS D MORROW
DONALD D MORROW
JOHN MICHAEL MORROW
RICHARD COREY MORROW
TRAVIS MORROW
KENNETH A MORSE
SCOTT A MORSE
MATHEW L MORSEMAN
MATTHEW MORT
JACQUELINE S MORTON
JEAN L MORTON
KATIE MORTON
KEVIN MORTON
MATTHEW G MORTON
SHARI MOSCROP
JAMES MOSELEY
BRIAN MOSER
DOUGLAS R MOSER
RUDOLPH MOSER
SCOTT E MOSER
DANNY R MOSES
EMMY JO MOSES
JOSHUA C MOSES
KENNETH I MOSES
ROBERT M MOSES
SAMMIE L MOSES
SAMUEL K MOSES
COLLEEN MOSHER
DWIGHT MOSHER
GAROLD C MOSHER
NEIL K MOSIER
NICHOLAS RYAN MOSIER
DEDRICK MOSLEY
HAYDEN W MOSLEY
JOHN MOSLEY
ROBERT W MOSLEY
AARON MOSS
JAMAL MOSS
JAMES MACKLIN MOSS JR
NEAL MOSS
RICHARD L MOSS
RODNEY A MOSS
RONALD S MOSS
STEVEN MOSS
RAJASHEKHAR MOTAGI
CARLOS E MOTEN
FAITH E MOTES
JONATHAN P MOTES
KADATH DIMITRI MOTLEY
DAVID A MOTSINGER
DENNIS R MOTT
MATTHEW KYLE MOTT
JO MOTZ
RIVAN MOUCHI
CHRIS MOULTON
BRYAN L MOUNT
CHARLES MOUTON III
BENJAMIN MOWRY
VICTOR MOWTSCHAN
MARC A MOXHAM
MIGUEL MOYA
VIRGIL MOYAN
JUSTIN MOYER
NICHOLAS MOYER
FARON W MOYERS
CONNOR MOYNIHAN
DONALD C MOZENA
IANA MUCHAIDZE
DANIEL MUCHMORE
DONALD MUCKENFUSS
LOKESH MUDALIAR
ADAM MUDD
STEVE MUDRI
BRIAN MUELLER
EDWARD MUELLER
QUINTIN P MUELLER
DAVID J MUHA
LIBERTY MUHWATI
PATRICK W MUIRHEAD
ANTHONY D MULA
MICHAEL MULAWKA III
ROSEMARY MULCAHEY
JARED A MULL
EAMONN MULLALLY
LISA MULLANEY
AMBER R MULLEN
CHRISTOPHER MULLEN
KEITH A MULLEN
MATTHEW D MULLEN
PHILLIP D MULLEN
ZACHARY MULLEN
ANTHONY WAYNE MULLER
ANNA M MULLETT
RICHARD E MULLETT II
STANTON J MULLETT
CHRISTOPHER MULLIN
JEREMY MULLIN
WILLIAM A MULLINAX
ANDREW MULLINS
JEFF J MULLINS
JEREMY D MULLINS
MICHAEL MULLINS
NICHOLAS MULLINS
SHAWN MULLINS
WILLIAM MULLINS
WILLIAM C MULLINS
DANNY MULLIS
KEATON C MULVANEY
LEE E MULVANEY
MICHAEL A MUMM
ALICIA MUMMERT
MARC L MUMMERT
LADISLOUS MUNAKI
BRADLEY M MUNCY
KYLE P MUNCY
JOHN A MUNDAY
BRIAN A MUNDERLOH
BRIAN E MUNGER
CHARLES K MUNNS
HOWARD W MUNNS
DANIEL MUNOS
AMANDA MUNOZ
DANIEL MUNOZ
JOSE MUNOZ
LORENZO MUNOZ
MARK MUNOZ
RICHARD MUNOZ
RONALD A MUNOZ
SALVADOR MUNOZ JR
SANTIAGO MUNOZ
WEHISMAN MUNOZ
MARTIN MUNOZ MEDINA
VANESSA MUNOZ ROSA
VALENTE MUNOZ RUIS
GREGORY B MUNRO
JOHN MUNRO
BRETT A MUNSEY
COURTNEY L MUNSEY
CORY MUNSON
GLORIA MUNSON
W ANDREWS MUNSON JR
RAJADURAI MURALITHARAN
PATRICK MURAWSKI
PAUL MURCHEK
KENNETH MURDOCH
DONNY R MURDOCK
ARTURO MURILLO JR
VICTOR J MURILLO
GUY MURIN
ALEXANDER LEE MURPHREE
JUSTIN M MURPHREE
ALICIA MURPHY
BILLY L MURPHY
BRANDON MURPHY
BRIAN MURPHY
CHRISTOPHER MURPHY
DALE MURPHY
DAN MURPHY
DARREN GEORGE MURPHY
DAVID MURPHY
DAVID MURPHY
GERARD E MURPHY
JACKIE MURPHY
JEANETTE MURPHY
JOHN W MURPHY
KENNETH MURPHY
MARTIN MURPHY
MATTHEW MURPHY
MICHAEL DEWAYNE MURPHY
PHILIP MURPHY
RODNEY MURPHY
SARA J MURPHY
SEAN K MURPHY
SHARON A MURPHY
STEPHEN L MURPHY
WILLIAM M MURPHY
BRYDON MURRAY
CATHERINE MURRAY
DANIEL G MURRAY
DEVON MURRAY
JEFFREY MURRAY
JUDITH A MURRAY
JULIE MURRAY
KIMONICA B MURRAY
KYLE MYATT MURR AY
LAWRENCE MURRAY
MICAH M MURRAY
NATHAN M MURRAY
RICHARD MURRAY
RICHARD MURRAY
TODD F MURRAY
WILLIAM MURRAY
WILLIAM A MURRAY JR
MANIKANDAN MURSUGASAN
SASIKUMAR MURUGAIYAN
DALE MURZYN
ANDERSON MUSE
JEFFREY MUSE
SAMUEL MUSE III
TODD MUSE
STEPHEN A MUSGRAVE
JOHN L MUSGRAVES
LARRY MUSHING
BARRY D MUSICK
MARCUS G MUSICK
DUSTIN MUSSA
TROY MUSSELMAN
RICHARD D MUSSER
JEFFREY MUSSON
WAZEEM MUSTAPHA
EUGENE SCOTT MUTCHLER
SONG HENG MUTH
RENGARAJ MUTHAIAH
GOVINDARAJU MUTHU
ALEX J MUTSCHELKNAUS
BENJAMIN R MUTSCHELKNAUS
AARON J MUTSCHLER
KIRK MUXWORTHY
PAUL MUZIO
BOBBY R MYERS
BONNIE MYERS
CATHY KAY MYERS
CHAD MYERS
COREY MYERS
DARREN J MYERS
DARRYL MYERS
DAVID C MYERS
ERIC MYERS
GLEN MYERS
GLEN L MYERS
HEATH A MYERS
JEFFERY MYERS
JESSICA R MYERS
JIMMY DALE MYERS
KRISTIE MYERS
MICHAEL MYERS
NOAH A MYERS
PATRICK MYERS
RANDY MYERS
RAYMAN MYERS
ROBERT MYERS
ROBERT A MYERS
STEVEN MYERS
STEVEN MYERS
TAYA MYERS
TERRY MYERS
TIMOTHY B MYERS
WESLEY B MYERS
GLENN MYKE
EPHRIAM MYLES
RAJOHN MYLES
KEVIN MYNATT
THOMAS A MYOTTE
EARMEN E MYRICK
JONATHAN M MYRICK
MARK L MYRICK
STEVEN MYRICK
THOMAS ROBERTSON MYRICK III
OLENA NABOKA
DENNIS NADBORNE
KIMBERLY NADLER
SAMUEL NADURIAK
JEFFREY NAESE
WILLIAM ALEXANDER NAFE
NATARAJAN NAGARAJ
BALASUBRA NAGARAJAN
MOHANA NAGARAJAN
PRABHU NAGARAJAN
SAMEENA NAGOOR PITCHAI
MICHAEL NAGY
TODD NAHERNE
MUNESH NAIDU
RUTUJA NAIK
TERENCE NAIWI
SEAN M NAJAFI
SALVADOR NAJAR JR
ALEX P NAJERA
JOSE NAJERA
RYUTA NAKAGAWA
JAY NAKAHIR A
GARY NAKAMOTO
SHAYNE NAKI
DOUGLAS NANCE
JIMMY D NANCE
JOEL NANGOO
MICHAEL NAPALO
RAYMOND S NAPOLITAN JR
TIMOTHY NAPPER
ORLANDO NARANJO
HENRY NARANJO ROCHA
KEVIN NARINE
MELISSA NARMI
BOBBY N NARMORE
CODY NASBY
BYRON NASH
ELDAIRO DEONTRAE NASH
GORDON NASH
ISAAC NASH
KENNETH T NASH
MICHAEL NASH
ROGER NASH
TERRANCE L NASH
DMITRI NASSYROV
ANTHONY M NATH
HANNA NATORSKI
LADYSLAW NATORSKI
DUSTIN N NAUD
JOHN R NAULT
ANGELA NAUMAN
MIKE A NAUMANN
BRIAN E NAUS
ERNESTO NAVA
GUILLERMO NAVA
ALBERTO NAVARRO
ALFONSO NAVARRO
PEDRO NAVARRO
RICHARD L NAVARRO
JOSE NAVARRO LINARES
CURTIS R NAVE
MATTHEW C NAVE
TIMOTHY WAYNE NAVE
THA NAY
S BRAMMA NAYAGAM
BRA D N AYLOR
JACE NAYLOR
TERRY NAYLOR
STEVE NAZARENUS
BRANDON JAMES CLARK NEAL
BRIAN R NEAL
CHRISTOPHER R NEAL
CLAIR D NEAL
EDWARD NEAL
FRANKLIN NEAL
GABRIEL NEAL
JAMES NEAL
JEFFREY P NEAL
JOHN R NEAL
JOSEPH NEAL
KORY C NEAL
RUSSELL NEAL
SANDRA L NEAL
TIRA NEAL
JERRY NEDDOW
JAMES NEDWETZKY
ANTHONY D NEEDHAM
DANIEL R NEEDHAM
JOSHUA NEEDHAM
TRAVIS J NEEDHAM
JERRY DEAN NEEL
RONALD KEITH NEEL
BRANDON NEELY
CHARLIE NEELY
SHANNON NEELY
GREGG A NEESEN
PATRICK A NEESEN
MICHELLE NEGICH
ARTURO NEGRETE CARDENAS
PAUL LOGAN NEHRING
CHRISTOPHER M NEIBAUER
DAVID NEIDHART
CHARLES B NEIDICH
DONALD V NEIDIG
JOHN NEIGEL
DERRICK J NEIGHBORS
ZACHARY R NEIGHBORS
ROCKY NEILL
LAD R NEILSON
ANDREW NEISER
NICHOLAS S NELKO
STEPHEN NELKO
ABRAM N NELSON
AMMON J NELSON
ANTHONY NELSON
BART J NELSON
BILLY NELSON
BRAD A NELSON
BRETT NELSON
BRYANT NELSON
CARL E NELSON
CASEY BRIAN NELSON
CHRISTINA E NELSON
CHRISTOPHER O NELSON
CHRISTOPHER R NELSON
DANIEL NELSON
DONALD NELSON
DUANE L NELSON
EDWARD NELSON
JAMES NELSON
JAMES NELSON
JAY R NELSON
JONATHAN NELSON
JONATHAN NELSON
JORY WADE NELSON
MARK NELSON
MICHAEL NELSON
MICHAEL NELSON
MURRAY NELSON
RACHEL NELSON
RAYMOND NELSON
RICHARD D NELSON
RICK A NELSON
ROBERT GT NELSON
RODNEY A NELSON
RODNEY T NELSON
RYAN J NELSON
SCOTT NELSON
SCOTTIE A NELSON
STEVEN NELSON
STEVEN B NELSON
TERRAN C NELSON
TERRY D NELSON
TIMOTHY L NELSON
TODD W NELSON
TYSON NELSON
FLORIBERTO NEPONUCENO
MICHAEL NEPTUNE
GEORGE NERIO JR
JAMES NERVINA
BENJAMIN C NESBITT
DANIEL NESBY
DANIEL A NESS
ROBERT K NESSELRODE
TRAVIS NESSL
MICHAEL NESTER
GEORGE P NETTLETON
DAVID NEUFELD
JOSEPH NEUHAUS
JOSHUA NEUHAUS
SANDRA NEUMANN-PLUMMER
JAMES NEVAREZ
JAMES NEVAY
CLARENCE NEVELS
DEXTER LEON NEVETT
DAVID W NEVIN
DANIEL J NEVITT
JAY DEE NEVITT
DANIEL R NEVLING
ERIC R NEW
RALPH G NEW
JAMES EDWARD NEWBERN
JEFFREY M NEWBERN
ED NEWBURY
CHARLES W NEWCAMP
JAMES WILLIAM NEWCAMP
BOBBY D NEWCOMB
CHRIS L NEWCOMER
RICK L NEWCOMER
JOHN E NEWELL
JAMES NEWILL
DANA L NEWKIRK
STUART D NEWLIN
DAVID G NEWMAN JR
DAVID TYLER NEWMAN
JARED NEWMAN
JASON H NEWMAN
JENNIFER LYNN NEWMAN
JOHN NEWMAN
KAITLIN NEWMAN
RODNEY D NEWMAN
SHANE R NEWMAN
BRADLEY R NEWSOM
JASON H NEWSOM
KAREN NEWSOM
PAYTON R NEWSOM
RICHELLE NEWSOM
TANYA NEWSOM
CURTIS NEWSOME
GEORGE E NEWSOME III
JAMES L NEWSOME
KELVIN L NEWSOME
RONALD NEWSOME
ROY DALE NEWSOME
ADAM NEWTON
ANDREW H NEWTON
ANTHONY NEWTON
CORY NEWTON
DENISE K NEWTON
DUSTIN R NEWTON
JERRY L NEWTON
JOSEPH A NEWTON II
JOSHUA NEWTON
MICHAEL NEWTON
PATTY RENAE NEWTON
RICHARD CARSON NEWTON
ROBERT NEWTON
ROBERT A NEWTON
RONNIE D NEWTON
RUSSELL B NEWTON
STEVEN M NEWTON
CLARK NEZ
SHIU NG
SAMBAN NGETH
BAC NGHIEM
BUNTHO NGUON
NAM NGUYEN
PATRICK NGUYEN
PHUC NGUYEN
SON NGUYEN
WILLIAM NIBOUAR
BODEE M NICHOLAS
MONTE D NICHOLAS
STAN NICHOLAS
JOHN NICHOLLS
CASEY D NICHOLS
JEFFREY M NICHOLS
JONATHAN P NICHOLS
KASHALA N NICHOLS
KATHLEEN NICHOLS
KENNETH D NICHOLS JR
MATTHEW A NICHOLS
ROBERT S NICHOLS
SCOTT NICHOLS
TALCOTT NICHOLS
DERRICK NICHOLSON
MATTHEW D NICHOLSON
PEYTON JOSEPH NICHOLSON
PRESCOTT NICHOLSON
JERRY L NICK JR
KELLY L NICKELS
JOHN NICKENS
BEN NICKERSON
DERRICK NICKERSON
MICHAEL P NICKERSON
KYLE NICLOUX
DENNIS NICOLETTI
GEORGE NICOLICH
JEFFREY A NICOLOFF
WAYNE DAVID NIEDERHAUSER
TERRY NIEHAUS
BARBARA A NIELSEN
DANIEL C NIELSEN
JERILYNN NIELSEN
JOHN D NIELSEN
JORGEN NIELSEN
ROBERT K NIELSEN
RON L NIELSEN
WESLEY PAUL NIELSEN
NICHOLAS NIELSON
CODY L NIEMANN
PAULO LOPEZ NIETO
JOSE NIEVES HERNANDEZ
JOHN NIGON
ROSA E NINA-BRITO
DONALD R NINER
TODD M NINIS
RIGOBERTO B NINO
WILLIAM NIPPER
LYNN NISHIMURA
ERIK R NISSEN
MICHAEL A NISSEN
SUSAN L NITZ
LISA NITZSCHE
BEVERLY J NIX
JOHN C NIXON JR
JOHN R NIXON
YOOSUF NIZAMUDEEN
MARK L NOACK
JOHN NOAKES
JAMES NOBBE II
ANDREW E NOBLE
JOHN W NOBLE
SHANE NOBLE
RODNEY P NOBLETT
THOMAS C NODINE
GERALD A NOE
FREDY NOEGGERATH-CHAVEZ
BRADLEY J NOEL
NIGEL NOEL
RONALD T NOEL
YAN-MAXYM NOEL
DERRICK S NOEY
CHARLES NOGA
MEGAN E NOGGLE
ROBERT NOGGLE
AMANDA NOGUER
PAUL NOIL JR
GREGORY T NOKES
TIM D NOKES
BARRY G NOLAN
BERNARD NOLAN JR
LENORE NOLAN
BOBBY NOLAND
BOBBY J NOLAND
STEPHEN W NOLAND
SOFIA NOLASCO
DUSTIN NOLEN
LARRY CHAD NOLEN
CHARLES L NOLES
LEWIS W NOLES
STEVEN NOLL
DONALD NOON JR
EDDWARD NOONAN
STRIDER E NOONE
ROBERT G NOONING JR
LINDSEY NOORT
AUSTIN C NORBERG
DEREK NORDBY
GARRICK NORDSTROM
ROBERT NORFORT JR
RICHARD P NORLIE
ALEXANDER NORMAN
DYLAN E NORMAN
JASON T NORMAN
JOHN NORMAN
KIMBERLY M NORMAN
RILEY NORMAN
VERGIE D NORMAN
BRYCE J NORR
CHASE NORRAD
BRANTLEY E NORRIS
CHRISTOPHER T NORRIS
COREY D NORRIS
FRANKIE J NORRIS
JOHN NORRIS
JOHN K NORRIS
JOSHUA NORRIS
KATHLEEN G NORRIS
MELVIN NORRIS
MICHAEL D NORRIS
RICHARD D NORRIS
SCOTT E NORRIS
SCOTT R NORRIS
STEPHEN C NORRIS
THOMAS R NORRIS
WILLIAM NORRIS
ZACHARY SCOTT NORRIS
JUSTIN B NORSWORTHY
DAVID A NORTH
JANET NORTH
RICHARD G NORTH
JOSEPH M NORTHCOTT
TONY NORTHCOTT
RON V NORTHCUTT
GLENN ALLISON NORTHRUP
JEFFREY D NORTHRUP JR
TRINITY NORTHWEST
BRIAN K NORTON
JACOB NORTON
JAMES DAVID NORTON
JERRY C NORTON
KAY L NORTON
EDWARD NORWOOD III
IVY RUTH NORWOOD
PAMELA L NORWOOD
THOMAS NOSBISCH
MARY BETH NOTA
SELMA E NOTARO
JEREMY J NOTHSTEIN
JESUS NOVELO
DARRELL L NOVOTNY
TRENT NOVOTNY
ADAM T NOWACKI
CHARLES J NOWAK II
MELINDA NOWLIN
THERR NOWLIN
WILLIAM NOWLON
JARROD M NOWMAN
JASON M NOWMAN
CHRYSANDRA P NOYE
CHRISTOPHER NOYES
LARRY NOYES
MAUNG NU
DESMOND NUCKOLLS IV
HOMER LEON NUCKOLS
RANDY L NUCKOLS
ROBERT NUELLE
ROBERT NUFFER
PATRICK C NULL
MATTHEW E NUNAN
ANTONIO NUNEZ
FRANCISCO NUNEZ
JOSE NUNEZ
JUAN NUNEZ
LILIANA SANCHEZ NUNEZ
MANUEL M NUNEZ
VENUSTIANO NUNEZ
CYNTHIA NUNEZ SAUCEDA
RODRIGO NUNEZ-CARRILLO
MOISES NUNGARAY
ROBERT A NUNMAKER
KEVIN NUNN
ERIC G NUNNENKAMP
SERGIO NUNO DIAZ
ROBERT PATRICK NURSE
KATHRYN NUSSBAUM
TRAVIS NUSZER
SHANE M NUTT
VICTOR LEE NUTT IV
BRUNO NWISI
RYA N J NYAME
YANCEY R NYGREN
ERIC A NYSTROM
BLAIR OAKE
CHRISTINE OAKES
FRANK O OAKES III
MATTHEW D OAKES
THOMAS R OAKS
JAMES O’BANION
BENEDICTA BROMOH OBENG
NICKOLAS A OBERMIRE
TRACY S OBERMIRE
ALLAN OBERMULLER
MARK OBIEDZINSKI
VALERIO OBREGON GARCIA
CLAYTON BRADLEY O’BRIEN
FRANCIS O’BRIEN
JAMES O’BRIEN
MATTHEW O’BRIEN
THOMAS O’BRIEN III
WILLIAM J O’BRIEN
BRYCE OBRIGEWITCH
FRED O’BRYAN
RANDY R O’BRYANT
TIMOTHY CLARENCE O’CAIN
MARITES OCAMPO
PEDRO OCAMPO SALTILLO
MARCOS OCANA
ERIBALDO OCHOA
JUAN ELIAS OCHOA
JUAN J OCHOA
LORENZO E OCHOA
LUCIO OCHOA
MIGUEL OCHOA
ROBERT OCHOA
TORIBIO O OCHOA
NICHOLAS STEPHEN OCKER
BRIAN O’CONNELL
SEAN O’CONNELL
COLTON O’CONNOR
GREG O’CONNOR
LEONARD E O’CONNOR
LOREN EVAN O’CONNOR
MATTHEW OCULL
ANTIONE ODA
ROBERT E O’DANIEL
WILLIAM A O’DANIEL
LEONARD T ODD
JANET M ODDEN
GINO ODDI
KATHY O’DELL
RONALD GENE O’DELL
BARNEY WILLIAM ODOM JR
BRANDON H ODOM
CHRISTOPHER M ODOM
JAMES L ODOM
JULIAN R ODOM
STEVEN ODOM
DENNIS O’DONNELL
JOSEPH O’DONNELL
ROBERT W O’DONNELL
GREGORY OELRICH
TRISHA OERTWIG
CRAIG A OETTLE
BARRA M O’FATHAIGH
TONA O’FATHAIGH
JOSHUA J OGBORN
RICKY R OGBORN
JAMES OGBURN JR
JAMES E OGBURN III
JANET OGBURN
MARCUS OGBURN
ERIC E OGDEN
TERRY A OGDEN
JASON OGILVIE
DANIEL R OGLE II
MELVIN EUGENE OGLE
MICHAEL H OGLESBY
WAYNE OGOMORI
SCOTT D O’GORMAN
KEVIN A O’GRADY
RAYMOND A O’GRADY
ADEKUNLE AKINYOSOYE OGUNTUNDE
BARBARA O’HAGAN
ARTHUR REESE O’HAIR
NICHOLAS O’HALLORAN
LARRY OHANO
DANIEL J O’HARA
ROBERT O’HARA
JEFFREY L OHM
STEVEN R OHM
ARTURO OJEDA
FRANCISCO R OJEDA
ISAAC OJEDA
VICTOR OJEDA
IGNATIUS C OKAFOR
SHANE OKANO
SUBHI OKDEH
PAIGE L O’KELLEY
JOSEPH A OKTAVEC
CHRISTOPHER OLADEINDE
KENNETH CRAIG OLAFSON
CHARLES T OLDHAM III
JEFFREY RYAN OLDHAM
JOHN T OLDHAM
RANDALL F OLDROYD
ROBERT A OLDROYD
SEAN O’LEARY
STEVEN D OLEKSIAK
MARTIN B O’LENA
KEVIN OLESEN
GARY A OLINGER
LANCE T OLINGER
GREGORY A OLIPHANT
HECTOR OLIVA
ISMAEL OLIVA
CESAR OLIVARDIA
JOSE MANUEL OLIVARES
LUIS OLIVARES
MANUEL OLIVARES VELASQUEZ
RODOLFO OLIVAS
MICHAEL OLIVEIRA
ANDREW OLIVER
BRIAN R OLIVER
BRYAN K OLIVER
DAMIEN OLIVER
DAVID OLIVER II
GARY W OLIVER
GEORGE OLIVER
JOSEPH A OLIVER JR
KEVIN OLIVER
RICK D OLIVER
RYAN D OLIVER
TOBY OLIVER
LUIS OLIVERAS
KEOKI OLIVEROS
KEOLA OLIVEROS
JUSTIN OLIVIERI
PABLO OLIVO
MARCO OLIVO REYNA
DANIEL OLIVO URBINA
KENNY L OLLER
THOMAS P OLMER
JONATHAN OLMO AGUILERA
JAVIER OLMOS
JOHN E OLMOS
DAVID T OLMSTED
ADAM M OLSEN
BENJAMIN OLSEN
COLLIN R OLSEN
DEREK OLSEN
DUSTIN D OLSEN
DUSTIN M OLSEN
EDWARD OLSEN
JARED N OLSEN
JERRY C OLSEN
SCOTT A OLSEN
ADAM OLSON
CASSANDRA J OLSON
DOUGLAS H OLSON
GARY OLSON
JAMES M OLSON
JEFFREY OLSON
JOHN MONTGOMERY OLSON
JUSTIN L OLSON
KEVIN OLSON
LEO G OLSON
RANDALL W OLSON
LOREN L OLTJENBRUNS
HELMUT G OLTMANN
NEAL B OLTREMARI
FREDERIC N OLVEDY
HUGO RODRIGUEZ OLVERA
JULIAN OLVERA
MICHAEL G O’MALLEY
THOMAS GORDON O’MALLEY
JULIUS OMAOENG
JAY J ONDROVIC
LYNN G ONDROVIC
ALAN W O’NEAL
C STEVE O’NEAL
DAVID B O’NEAL
JAMES R O’NEAL
JERRY O’NEAL
KEVIN R O’NEAL
LANNIE RAY O’NEAL
MICHAEL O’NEAL
SHAWN D O’NEAL
DANIEL O’NEILL
QUINTON A O’NEILL
WILLIAM O’NEILL
HERBERT D ONEY
LORENZO ONTIVEROS
RUBEN ONTIVEROS
JAN ROY OOSTINDIE
ANTHONY OPOKU
DAVID ORASI
FRANCISCO ORDAZ NUNEZ
BRIAN F ORDNUNG
BORIS ORDONEZ
BENJAMIN ORDONEZ GONZALEZ
CHAUNA ORDOWER
JOSEPH M ORDUNO
STEVEN E ORDUNO
ALEXIS OREA
DREW R ORGILL
MASAAKI ORIKURA
SCOTT ORLINSKI
JOHN H ORMAN
WILLIAM H ORMAND
KEVIN ORMANOSKI
WILLIAM V ORME
MIGUEL S OROBIYI
CONNIE R ORONA
FELIPE OROZCO
ISMAEL OROZCO
MAXIMILIANO OROZCO
CHRISTOPHER L ORR
COREY ORR
FADRIA C ORR
JAMES A ORR
JEFFREY ORSHOSKI
STEPHEN ORSINI
BAUDILIO ORTEGA
CARLOS ORTEGA
DERRICK J ORTEGA
MARLON ORTEGA
SARA J ORTEGA
TEOFILO ORTEGA IV
EDGAR ORTIZ
GUADALUPE ORTIZ
GUILLERMO E ORTIZ
GUSTAVO ORTIZ
JONATHAN ORTIZ
JOSE ORTIZ
JOSE ORTIZ JR
JUAN J ORTIZ JR
LOUIE A ORTIZ
SABATHA ORTIZ
SAUL ORTIZ
ELMER ORTIZ ACUNA
JOHN ORTIZ ATAYDE
PEDRO ORTIZ GARCIA
JOSE M ORTIZ MEZA
FRANCISCO ORTIZ SEVILLA
ELOY ORTIZ-LOPEZ
JONATHAN ORTON
KENNETH L ORUM
MATTHEW ORUM
SHARON P ORVEK
SUNNY JERRY OSAGIE
RANDE A OSBERG
DOUG OSBORN
JOSEPH OSBORN
JOSHUA OSBORN
KILEY L OSBORN
CODIE OSBORNE
FRANK OSBORNE
JASON OSBORNE
JOHN C OSBORNE
MICHAEL V OSBORNE
MONTGOMERY OSBORNE
RAYMOND OSBORNE
ROBERT OSBORNE
ALFONSO OSEGUERA
JUSTIN OSENGA
MEIKA OSETSKY
KATHLEEN O’SHAUGHNESSY
CLETUS O’SHEA
STEVEN D OSHEL
EDWIN OSHIMA
CLINTON OSLER
TIMOTHY RAY OSMER
STEVE OSMOND
OSCAR OSORIO
MARY OSTENDORF
MARTIN OSTERGAARD
YOHANA OSTORGA
MARY R OSTRANDER
JAMES O’SULLIVAN
JOHN O’SULLIVAN
ROBERT L OSWALD
ERIC S OSWALT
ELDY OTANO ALVAREZ
JOHN OTHMER
MARYALLENE OTIS
JORDAN S OTJEN
STEVEN A OTJEN
BRANDON W OTTER
MATTHEW A OTTIS
TUPOU N OTUTAHA
JAMES P OTWELL
MICHAEL OUDEMAN
PATRICK OUELLET
COLTEN OUELLETTE
JONATHAN OUELLETTE
RANDY OUELLETTE
KEVIN LEE OUTLAND
PHILLIP WAYNE OUTLAND
JAMMIE L OUTLAW
JOSE F OVALLE
HEATH M OVERACKER
JACKIE N OVERBEY
ANDREW OVERBO
CRAIG T OVEREND
ANDREW OVERHOLTZ
DOUGLAS W OVERTON
IVORY SHAVON OVERTON
JASON T OVERTON
JOYCE S OVERTON
RYAN L OVERTON
ANDY D OWEN
CHARLES H OWEN
DANIEL OWEN
JAMES AARON OWEN
MONICA M OWEN
AARON T OWENS
ALTON OWENS
BENJAMIN W OWENS
BILLY M OWENS
BRADLEY OWENS
BRYAN RAY OWENS
BRYON OWENS
CARROL W OWENS
CHARLES A OWENS
CHRISTOPHER COY OWENS
CHRISTY HENSLEY OWENS
CLARENCE R OWENS
DALTON OWENS
DONALD J OWENS
ETHAN T OWENS
GARY OWENS
JALON OWENS
JAMES E OWENS
JOHN OWENS
JONATHAN W OWENS
MARGARET B OWENS
MICHAEL SHAWN OWENS
MYRON OWENS
REUBEN H OWENS
STEPHANIE A OWENS
TIMOTHY J OWENS
TRENTON WAYNE OWENS
NIALL OWN CHIEF
MELISSA K OWNBEY
ZACHARY R OWSLEY
TOMMIE OXENDINE
JUSTIN OXTOBY
WILLIE OZIER
DAVID OZIMEK
KENNETH OZINGA
DAVID OZOLIN
NAVEEN KUMAR PAARTHASARATHY
ANTWON PABON
BRIAN PACCAGNELLA
ANTONIO PACHECO
CHRISTOPHER PACHECO
ERNESTO PACHECO
HUMBERTO PACHECO JR
JOSE PACHECO
JUAN M PACHECO
MARCOS PACHECO
SAM PACIOTTA
DILLON PADDOCK
JOHN W PADGETT
JOSEPH LEE PADGETT
TRACY V PADGETT
WILLIAM J PADGETT
ADAM PADILLA
EDSVIN PADILLA
GABRIEL PADILLA JR
GUADALUPE PADILLA
JORGE PADILLA
MARCO PADILLA
DARYL PADMORE
RAE L PAFF
GEORGE PAGAN
JEROME PAGE
JOHN L PAGE
JONAS TYRONE PAGE
RICHARD PAGE
RICHARD M PAGE
ROBERT O PAGE
MICHAEL PAHNER
RICHARD PAHUYO
BENNIE PAIGE
JAMIE PAIGE
TERRY STEVEN PAIGE
CHAD PAINTER
MICHAEL A PAINTER
SHAD T PAINTER
MERLE L PAITSEL
LUIS PAJARES LANDA
SHANE PAKOOTAS
SANJAY PAL
HEADVA PALACHI
HEDVA PALACHI
MIGUEL PALACIOS
PABLO PALACIOS
ROBERTO PALACIOS
SECUNDINA PALACIOS
FERNANDO PALACIOS SALDANA
JOHN PALAKAL
AARON J PALKOVIC
DON PALMANTEER JR
CHRISTY PALMER
DAVID PALMER
DEZMOND PALMER
DILLON PALMER
DUSTIN L PALMER
ERIC PALMER
GEORGE STANLEY PALMER
GLENN PALMER
GREGORY J PALMER
H B PALMER
HERCHEL PALMER
IAN H PALMER
JEFFREY PALMER
JENNY LYNN PALMER
KATHLEEN A PALMER
LINDA COLEEN PALMER
LISA PALMER
MEAGAN PALMER
QUINN PALMER
RACHEL L PALMER

Table of contents

  • Page 1
    2014 ANNUAL REPORT JESSE MOORE JESSE MOORE JR JESSE D MOORE ...GEORGE P NETTLETON DAVID NEUFELD JOSEPH NEUHAUS JOSHUA NEUHAUS SANDRA NEUMANN-PLUMMER JAMES NEVAREZ JAMES NEVAY CLARENCE NEVELS DEXTER LEON NEVETT DAVID W NEVIN DANIEL J NEVITT JAY DEE NEVITT DANIEL R NEVLING ERIC R NEW RALPH G NEW JAMES...

  • Page 2
    ...PARENT DAVID F PARENT SUSIE PARIS MICHAEL PARISE BILLY W PARISH JACOB R PARISH JASON PARISH JOSEPH H PARISH CHARLES PARISIEN RAYMOND PARISIEN SHANE D PARISOT CHRISTOPHER PARK DOUGLAS PARK JOE A PARK III KAIAKA PARK TERRY...PLANER JILL F PLANER ROD S PLANER SCOTT PLANEY OLIVER PLANTE CHAD E PLASTERS ...

  • Page 3
    ..., continue to improve our costs and processes, empower our workforce to make decisions, pay for performance to get the best results and engage in real-time R&D to uncover innovations. It's the job of every teammate to create value for our customers, for Nucor and ultimately for our shareholders...

  • Page 4
    ...' Equity Statements of Cash Flows Notes to Financial Statements Board of Directors Executive Management Corporate and Stock Data 40 42 43 44 45 46 47 48 49 50 51 75 76 78 Executive Officer Group, from left to right: David A. Sumoski, Executive Vice President; James D. Frias, Chief Financial Of...

  • Page 5
    ... (net of cash acquired) Sales per employee AT YEAR END Working capital Property, plant and equipment, net Long-term debt (including current maturities) Total Nucor stockholders' equity Per share Shares outstanding Employees (dollar and share amounts in thousands, except per share data) 2014 2013...

  • Page 6
    ... challenging steel market. The hard work of our Nucor team continues to create attractive value for our shareholders. John J. Ferriola Chairman, Chief Executive Officer and President Financial Highlights As I noted above, in 2014, Nucor earned $713.9 million, or $2.22 per diluted share, compared...

  • Page 7
    ... expanded DRI capacity will help us grow market share in the higher-value sheet, plate and Special Bar Quality (SBQ) markets. It's worth noting that our Trinidad DRI plant, in operation since the beginning of 2007, contributed stronger earnings at the end of 2014, allowing Nucor to take advantage of...

  • Page 8
    ...having previously served as Vice President and General Manager of Nucor-Yamato Steel Company. Dave Sumoski was promoted to Executive Vice President of engineered bar products. Prior to joining the executive team, Dave served as Vice President and General Manager of Nucor Steel Memphis. Chad and Dave...

  • Page 9
    ... program in light of low natural gas prices. Our ability to respond to changes in the natural gas market illustrates the flexibility of our venture with Encana, giving Nucor a capital-efficient hedge against high natural gas prices. Nucor's new direct reduced iron (DRI) plant in Louisiana also...

  • Page 10
    ... year, the market uses more and more of our engineered bar. Today, Nucor makes steel for just about every part of the vehicle. As the most diversified manufacturer of steel and steel products in North America, we're continuing to find new ways to drive value to our customers and our shareholders...

  • Page 11
    ... Fenders Quarter panels Roof Closures Doors Hood Deck lid /Lift gate Wheels Engine Components Crankshafts Connecting rods Camshafts Piston pins Idler shafts Starter shafts Transmission Gears Shafts Pulleys Hubs Suspension & Steering Shocks & struts Coil springs Stabilizer bars Sway bars CV joints...

  • Page 12
    BAR MILLS SHEET MILLS CASTRIP ® SHEET MILLS BEAM MILLS PLATE MILLS SKYLINE FACILITY SKYLINE HEADQUARTERS ASTRALLOY FACILITY NUCOR CORPORATE OFFICE Nucor trading office in Neuchatel, Switzerland; Skyline facility in Edmonton, Alberta, Canada; and distribution office in Bogota, Colombia ...

  • Page 13
    ...-based steel production mills and is North America's largest recycler. BAR MILLS Nucor has 13 bar mills located across the United States that manufacture a broad range of steel products, including concrete reinforcing bars, hot-rolled bars, rounds, light shapes, structural angles, channels, wire rod...

  • Page 14
    ...681,000 tons in 2014. Nucor's operations include several international trading and distribution companies that buy and sell primarily steel manufactured by the Company and other steel producers. Our steel mill customers are mainly manufacturers, steel service centers and fabricators. The sheet mills...

  • Page 15
    ... manufacturing markets. Steel Technologies operates as an independent business, allowing Nucor to continue its long-standing relationships with other sheet processing companies while at the same time allowing Steel Technologies the ability to independently manage its supply needs. INTERNATIONAL...

  • Page 16
    REINFORCING PRODUCTS BUILDINGS GROUP VULCRAFT & VERCO COLD FINISH STEEL MESH GRATING & FASTENERS HARRIS CORPORATE OFFICE NUCOR CORPORATE OFFICE

  • Page 17
    ...of Harris Steel, fabricates steel and aluminum bar grating, safety grating and expanded metal products at facilities located in North America. Fisher & Ludlow serves the new construction and maintenance-related markets with an annual production capacity of approximately 103,000 tons. FASTENERS Nucor...

  • Page 18
    ...nine deck plants located throughout the United States. Six of these plants are adjacent to Vulcraft joist facilities. The current annual deck production capacity is approximately 530,000 tons. In 2014, steel deck sales increased 19% to 396,000 tons, compared with 334,000 tons in 2013. Material costs...

  • Page 19
    17 625 500 500 400 375 300 250 200 thousands of tons 125 thousands of tons 100 year 05 06 07 08 09 10 11 12 13 14 year 05 06 07 08 09 10 11 12 13 14 STEEL JOIST SALES STEEL DECK SALES

  • Page 20
    ... Systems, American Buildings Company, Kirby Building Systems, Gulf States Manufacturers and CBC Steel Buildings. In total, the Nucor Buildings Group currently has eleven metal buildings plants with an annual capacity of approximately 465,000 tons. The Buildings Group sales were 292,000 tons in 2014...

  • Page 21
    .... Nucor Cold Finish obtains most of its steel from the Nucor bar mills, ensuring consistent quality and supply through all market conditions. This factor, along with our facilities' use of the latest technology, results in a highly competitive cost structure and reliability for our customers. COLD...

  • Page 22
    SCRAP PROCESSING BROKERAGE OFFICES DRI PLANTS OTHER DJJ CORPORATE OFFICE NUCOR CORPORATE OFFICE Brokerage office in Hong Kong, China not shown.

  • Page 23
    ... the plant has operated well, with world-class metallization rates and carbon content levels being achieved. With an anticipated annual capacity of 2,500,000 metric tons, this DRI facility is the first step of a multi-phase site development plan opportunity in Louisiana. NATURAL GAS WORKING INTEREST...

  • Page 24
    ... in domestic energy-related steel, which is the third largest end market for steel in the United States. With the global collapse in oil prices in the fourth quarter of 2014, activity in the energy sector has slowed dramatically. Long-term, we believe that lower energy prices will be good for the...

  • Page 25
    ... of our steel sales are to spot market customers who place their orders each month based on their business needs and our pricing competitiveness compared to both domestic and global producers and trading companies, we also sell contract tons, primarily in our sheet operations. Approximately 50...

  • Page 26
    ..., our incentive-based pay system reduces our payroll costs, both hourly and salary, which helps to offset lower selling prices. Our pay-for-performance system that is closely tied to our levels of production also allows us to keep our work force intact and to continue operating our facilities when...

  • Page 27
    .... Lower energy costs per ton increase our gross margins. Generally, our energy costs per ton are lower when the average utilization rates of all operating facilities in our steel mills segment are higher. Changes in marketing, administrative and other expenses, particularly profit sharing costs, can...

  • Page 28
    ... customers. The sheet, bar, structural and plate product groups all experienced an increase in average sales price per ton compared with 2013 due to stronger demand and new product offerings. The strongest markets for the steel mills segment were manufactured goods, including automotive, energy...

  • Page 29
    ... markets. Our joist, deck, rebar, cold finish and building systems operations all experienced margin improvement in 2014 compared to 2013. • Our Nucor Steel Louisiana DRI facility, which began production operations in December 2013, experienced significant operational losses, including start...

  • Page 30
    ...mills segment. In the third quarter of 2013, one of three iron ore storage domes collapsed at Nucor Steel Louisiana in St. James Parish. As a result, Nucor recorded a partial write-down of assets at the facility, including $21.0 million of property, plant and equipment, and $7.0 million of inventory...

  • Page 31
    ... average sales prices and higher metal margins resulting from factors discussed above. Our recent capital project expansions have allowed us to broaden our product offerings and market share, particularly in the special bar quality, cold-rolled and galvanized sheet and plate steel products. These...

  • Page 32
    ... decreased 2% from the prior year. The average sales price per ton decreased 5% from $841 in 2012 to $803 in 2013, while total tons shipped to outside customers increased 3% in 2013 as compared to 2012. In the steel mills segment, production and sales tons were as follows: (in thousands) Year Ended...

  • Page 33
    ... natural gas costs in 2012. • Gross margins related to DJJ's scrap processing operations decreased significantly during 2013 compared to 2012 due to excess shredding capacity increasing DJJ's cost of scrap purchases and weather-related effects in the first quarter of 2013 that reduced the flow...

  • Page 34
    ... 2013 than 2012, profitability in our joist, cold finish and rebar fabrication businesses improved from 2012. The steel products segment's 2012 loss was impacted by the $17.6 million loss on the sale of assets of Nucor Wire Products Pennsylvania, Inc. in the third quarter of 2012. The steel products...

  • Page 35
    ...result of the dome collapse at Nucor Steel Louisiana. Nucor Steel Louisiana also had increased start-up costs in 2013 over 2012 as it began production in late December. An unplanned 18-day outage at our Trinidad DRI facility in early 2013 also contributed to lower profitability for the raw materials...

  • Page 36
    ... DRI facility and reduced spending on our natural gas working interest drilling program. Additionally, Nucor invested $768.6 million in the acquisition of other companies in 2014, primarily Nucor Steel Gallatin (there were no acquisitions in 2013). Another factor contributing to the increase in cash...

  • Page 37
    ...to partially manage its exposure to price risk related to natural gas purchases used in the production process as well as scrap, copper and aluminum purchased for resale to its customers. In addition, Nucor uses forward foreign exchange contracts from time to time to hedge cash flows associated with...

  • Page 38
    ... of strategic investments that will further enhance our ability to grow Nucor's long-term earnings power by expanding our product portfolios into higher value-added offerings that are less vulnerable to imports, improving our highly variable low-cost structure and building upon our market leadership...

  • Page 39
    ... used to determine the fair value of each reporting unit as part of our annual testing (and any required interim testing) include: (a) expected cash flow for the five-year period following the testing date (including market share, sales volumes and prices, costs to produce and estimated capital...

  • Page 40
    ... the majority of the weighting. Key assumptions used to determine the fair value of our equity method investments include: (a) expected cash flow for the five-year period following the testing date (including market share, sales volumes and prices, costs to produce and estimated capital needs...

  • Page 41
    ...by Nucor during 2014 and the expected financial impact of accounting pronouncements recently issued or proposed but not yet required to be adopted. RECLASSIFICATIONS In the first quarter of 2013, we began reporting the results of Nucor's steel trading businesses and rebar distribution businesses in...

  • Page 42
    ...500 4,000 4,400 3,000 3,300 2,000 2,200 millions of dollars millions of dollars 1,000 1,100 year 05 06 07 08 09 10 11 12 ... 5,000 8,000 4,000 6,400 3,000 4,800 2,000 3,200 millions of dollars millions of dollars 1,000 1,600 year 05 06 07 08 09 10 11 12 13 14...

  • Page 43
    ... 12 13 14 year 05 06 07 08 09 10 11 12 13 14 NET SALES N E T E A R N I N G S ( L O S S ) AT T R I B U TA B L E TO NUCOR STOCKHOLDERS 1,200 650 960 520 720 390 480 260 millions of dollars millions of dollars 240 130 year 05 06 07 08 09 10 11 12 13 14 year 05 06...

  • Page 44
    ...T Y Product Sheet Bar Structural Plate Total 2 014 S T E E L P R O D U C T S C A PA C I T Y Product Thousands of Tons 1,745 860 715 530 465 128 103 75 4,621 Thousands of Tons 13,100 9,110 3,700 2,900 28,810 Rebar Fabrication Cold Finish Joist Deck Buildings Group Steel Mesh Grating Fastener Total...

  • Page 45
    ... Capital expenditures Acquisitions (net of cash acquired) Depreciation Sales per employee AT YEAR END Current assets Current liabilities Working capital Cash provided by operating activities Current ratio Property, plant and equipment, net Total assets Long-term debt (including current maturities...

  • Page 46
    ... Commission (COSO) in Internal Control - Integrated Framework (2013). Our evaluation did not include the internal controls over financial reporting of Gallatin Steel Company, which was acquired on October 8, 2014. Total assets and total sales for the acquisition represent approximately 4.2% and...

  • Page 47
    ... in Management's Report on Internal Control Over Financial Reporting, management has excluded Gallatin Steel Company from its assessment of internal control over financial reporting as of December 31, 2014 because it was acquired by the Company in a purchase business combination during 2014. We...

  • Page 48
    ... CONSOLIDATED BALANCE SHEETS December 31, ASSETS CURRENT ASSETS: Cash and cash equivalents (Note 15) Short-term investments (Notes 4 and 15) Accounts receivable, net (Note 5) Inventories, net (Note 6) Other current assets (Notes 10, 14 and 20) Total current assets PROPERTY, PLANT AND EQUIPMENT, NET...

  • Page 49
    ... INTERESTS NET EARNINGS ATTRIBUTABLE TO NUCOR STOCKHOLDERS NET EARNINGS PER SHARE (Note 22): Basic Diluted See notes to consolidated financial statements. (in thousands, except per share data) 2014 $21,105,141 2013 $19,052,046 17,641,421 481,904 (9,297) - 146,895 18,260,923 2012 $19,429...

  • Page 50
    ...2014, 2013 and 2012, respectively Reclassification adjustment for gain on early retiree medical plan included in net earnings, net of income taxes of ($557), $0 and $0 for 2014, 2013 and 2012, respectively 2014 $815,790 2013 $585,529 (in thousands) 2012...TO NUCOR STOCKHOLDERS See notes to consolidated financial statements....

  • Page 51
    ...2012 Net earnings in 2013 Other comprehensive income (loss) Stock option expense Issuance of stock under award plans, net of forfeitures Amortization of unearned compensation Cash dividends ($1.4725 per share) Distributions to noncontrolling interests BALANCES, December 31, 2013 Net earnings in 2014...

  • Page 52
    ... operating activities Cash provided by operating activities INVESTING ACTIVITIES: Capital expenditures Investment in and advances to affiliates Repayment of advances to affiliates Disposition of plant and equipment Acquisitions (net of cash acquired) Purchases of investments Proceeds from the sale...

  • Page 53
    ...DECEMBER 31, 2014, 2013 AND 2012 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 broker and processor, with operating facilities and customers primarily located in North America. Principles of...

  • Page 54
    ... 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...

  • Page 55
    ...on the Company of adopting the new guidance will depend on the nature, terms and size of business disposals completed after the effective date. In May 2014, new accounting guidance was issued that will supersede nearly all existing accounting guidance related to revenue recognition. The new guidance...

  • Page 56
    ... On October 8, 2014, Nucor acquired the entire equity interest in Gallatin Steel Company (Gallatin) for a cash purchase price of $779.1 million, including working capital adjustments. The acquisition was partially funded by the issuance of approximately $300 million of commercial paper with the...

  • Page 57
    ... statement of earnings. In November 2012, Nucor acquired a 50% economic and voting interest in Hunter Ridge Energy Services LLC (Hunter Ridge). Hunter Ridge provides services for the gathering, separation and compression of energy products including natural gas produced by Nucor's working interest...

  • Page 58
    ...consolidated balance sheets. In the third quarter of 2013, one of three iron ore storage domes collapsed at Nucor Steel Louisiana in St. James Parish. As a result, Nucor recorded a partial write-down of assets at the facility, including $21.0 million of property, plant and equipment and $7.0 million...

  • Page 59
    ... In the fourth quarter of 2014, an equipment failure occurred at Nucor Steel Louisiana related to the process gas heater. There were no injuries, no environmental impact and no damage to any other part of the direct reduced iron (DRI) facility as a result of this incident. Production operations were...

  • Page 60
    ... in 2018 and $63.3 million in 2019. The Company completed its annual goodwill impairment testing as of the first days of the fourth quarters of 2014, 2013 and 2012 and concluded that as of such dates there was no impairment of goodwill for any of its reporting units. We do not believe there are any...

  • Page 61
    ... of non-current assets in the consolidated statements of earnings. Although the operating results of Duferdofin Nucor have improved since 2012 and there have been no significant deteriorations in near-term financial projections or other key assumptions since the last impairment test performed in...

  • Page 62
    ...compensation, utilities deposits and credit arrangements by Nucor Trading S.A. for commitments to purchase inventories. 13. CAPITAL STOCK The par value of Nucor's common stock is $0.40 per share and there are 800 million shares authorized. In addition, 250,000 shares of preferred stock, par value of...

  • Page 63
    ... Location (in thousands) Amount of Gain or (Loss) Recognized in Earnings on Derivatives 2014 2013 $1,890 748 $2,638 $4,622 112 $4,734 2012 $1,321 198 $1,519 Commodity contracts Foreign exchange contracts Total Cost of products sold Cost of products sold At December 31, 2014, natural gas...

  • Page 64
    ... 31, 2014 and 2013. Nucor does not have any non-financial assets or liabilities that are measured at fair value on a recurring basis. (in thousands) Fair Value Measurements at Reporting Date Using Carrying Amount in Consolidated Balance Sheets Quoted Prices Significant in Active Markets Other...

  • Page 65
    ... to Nucor's key employees, officers and non-employee directors with exercise prices at 100% of the market value on the date of the grant. The stock options granted are generally exercisable at the end of three years and have a term of 10 years. New shares are issued upon exercise of stock options...

  • Page 66
    ... million in 2013 and $9.9 million in 2012). As of December 31, 2014, unrecognized compensation expense related to options was $0.5 million, which is expected to be recognized over 2.4 years. Restricted Stock Units Nucor annually grants restricted stock units (RSUs) to key employees, officers and non...

  • Page 67
    ... stock price of Nucor's common stock on the day before the grant. A summary of Nucor's restricted stock unit activity is as follows: (shares in thousands) Year Ended December 31, Shares 2014 Grant Date Fair Value Shares 2013 Grant Date Fair Value Shares 2012 Grant Date Fair Value Restricted...

  • Page 68
    .... 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. Nucor's expense for these benefits totaled $110.1 million in 2014 ($71.7 million in 2013 and $77.7 million in 2012). The related...

  • Page 69
    67 20. INCOME TAXES Components of earnings from continuing operations before income taxes and noncontrolling interests are as follows: (in thousands) Year Ended December 31, United States Foreign 2014 $1,161,953 42,624 $1,204,577 2013 $755,921 35,202 $791,123 2012 $854,705 (1,765) $852,940 The...

  • Page 70
    ... the amount of unrecognized deferred tax liability related to the unremitted earnings. State net operating loss carryforwards were $462.8 million at December 31, 2014 ($824.0 million at December 31, 2013). If unused, they will expire between 2015 and 2034. The majority of this change is due to...

  • Page 71
    ... million at December 31, 2013). The Internal Revenue Service (IRS) is examining Nucor's 2012 federal income tax return. Management believes that the Company has adequately provided for any adjustments that may arise from this audit. The 2011 and 2013 tax years are also open to examination by the IRS...

  • Page 72
    ...earnings Net current-period other comprehensive (loss) income December 31, 2013 Foreign Currency Gain (Loss) $ 46,181 (53,619) - (53,619) $ (7,438) Adjustment to Early Retiree Medical Plan... cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan,...

  • Page 73
    ... excluded from the computation of diluted net earnings per share because their effect would have been anti-dilutive: (shares in thousands) Year Ended December 31, Anti-dilutive stock options: Weighted average shares Weighted average exercise price $ 2014 2013 2012 - - 137 $44.51 801 $42.07

  • Page 74
    ... fasteners, metal building systems, steel grating and expanded metal, and wire and wire mesh. The raw materials segment includes DJJ, primarily a scrap broker and processor; Nu-Iron Unlimited and Nucor Steel Louisiana, two facilities that produce DRI used by the steel mills; our natural gas working...

  • Page 75
    ...Earnings (loss) before income taxes and noncontrolling interests: Steel mills Steel products Raw materials Corporate/eliminations Segment assets: Steel mills Steel products Raw materials Corporate/eliminations Capital expenditures: Steel mills Steel products Raw materials Corporate 2014 2013 2012...

  • Page 76
    ... quarter associated with the acquisition of Nucor Steel Gallatin. Also included in the fourth quarter results was Nucor Steel Louisiana's operating loss of approximately $35 million that was classified as start-up costs, as that facility experienced an equipment failure that suspended production...

  • Page 77
    ... Retired President and Chief Executive Officer RTI International Bernard L. Kasriel Retired Vice Chairman and Chief Executive Officer Lafarge S.A. Christopher J. Kearney Chairman, President and Chief Executive Officer SPX Corporation Raymond J. Milchovich Lead Director Nucor Corporation Retired...

  • Page 78
    ... Division Brigham City, Utah Robert L. Angotti Vice President of Nucor Executive Vice President of The David J. Joseph Company Kevin E. Barksdale Vice President, General Manager Vulcraft Division Fort Payne, Alabama Thomas J. Batterbee General Manager Nucor Building Systems Division Terrell, Texas...

  • Page 79
    ... Vice President, General Manager Bar Mill Division, Cold Finish Division Darlington, South Carolina Gary Richmond President and Chief Executive Officer Harris Steel Group Inc. Brian Rutter President Fisher & Ludlow Mark Schaefer Vice President of Nucor Executive Vice President of The David J. Joseph...

  • Page 80
    ...S&P Steel Group Index at year end 2014 (42% at year end 2009). STOCK LISTING Nucor's common stock is traded on the New York Stock Exchange under the symbol NUE. As of January 30, 2015, there were approximately 17,000 stockholders of record. 200 FORM 10-K A copy of Nucor's 2014 annual report filed...

  • Page 81
    ...THOMAS RISTON CODY A RITCH GEORGE A RITCH DANIEL M RITCHEY BILL RITCHIE ANTHONY RIVAS III ...ROLLINGS DAVID L ROLLINS EDWARD ROLLINS JAMES E ROLLINS JAMES LAWRENCE ROLLINS JOSEPH M ROLLINS PEGGY C ROLLINS PHILLIP M ROLLINS KELLY P ROLOFSON JAMES E ROLOSON ELIPHETE ROMAIN JERID ROMAIN IRINEO ROMAN DAVID...

  • Page 82
    ... KAREN SHEARER HARRY B SHEARIN JAMES A SHEBLE PAUL A SHECKELL CHRISTOPHER M SHEDWILL JAMES L SHEETS RODNEY SHEETS DOUGLAS R SHEFFER JAMES A SHEFFIELD JR PATRICK W SHEFFIELD TIMOTHY SHEFFIELD PEYMAN SHEIRZAD ANDREW M SHELBURNE JUSTIN M SHELBY DANIEL J SHELDEN DAVID SHELEFONTIUK STEVE SHELEFONTIUK...

  • Page 83
    ...CHARLES W STEELE COURTNEY STEELE JAMES D STEELE JOSHUA C STEELE MELINDA J STEELE PAUL STEELE SETH STEELE RICHARD STEELMAN BRENDON STEEN TYSON STEEN WILLIAM M STEEN NICOLE STEERE JAMES STEEVES PAUL STEEVES ANDREW G STEFANEK KURT G STEFFENSMEIER DAVID STEFKO CHARLES B STEGALL JEFF A STEGEMILLER JOSEPH...

  • Page 84
    ... TURNER RICKY LEON TURNER ROBERT O TURNER SCOTT A TURNER STEPHEN L TURNER TAMMY S TURNER TERRENCE D TURNER TERRY AUSTIN TURNER TIMOTHY R TURNER ZACHARY L ...WALLACE CHARLOTTE H WALLACE DANIEL WALLACE DANIEL WALLACE DAVID EVAN WALLACE EARL WALLACE ERIC J WALLACE GEORGE F WALLACE GERALD W WALLACE JAMES ...

  • Page 85
    ...WAUGH HEIDI L WAUGH JAMES WAUGH ANGELA K WAWRZASZEK TIMOTHY A WAXLER STEPHEN M WAY KEVIN C WAYE JR TODD WAYMAN ASHLEY WAYNE CALVIN WAYNE SUSAN WAYNE JUSTIN WAYSON JONATHAN W WEATHERBY CHRISTOPHER M WEATHERFORD DAVID A WEATHERFORD HARRIETT M WEATHERFORD HARRY H WEATHERFORD JOSEPH E WEATHERFORD NELSON...

  • Page 86
    ...SCOTT C ALDRICH FRANKIE L ALDRIDGE JAMES ALDRIDGE III JOEL ALDRIDGE LAMON F ALDRIDGE MATTHEW ALDRIDGE ROBERT B ALDRIDGE ROBERT W ALDRIDGE RONALD S ALDRIDGE GEORGE...JOSEPH S AMAROSSO CHRISTOPHER P AMBROSE DAVID A AMBROSE JAMES R AMBROSE JAMES... ANDERSON TERRY D ... BATTON JOHN HOWARD BATTS SHELTON MITCHELL...

  • Page 87
    ... SCOTT BOWERS DAVID BOWLER LANCE BOWLES DEWEY J BOWLING JOHN D BOWLING BRADD A BOWMAN BRIAN E BOWMAN CASEY BOWMAN GEORGE B BOWMAN JAMES C BOWMAN JASON BOWMAN JOHN BOWMAN JOSEPH BOWMAN JOSEPH BOWMAN MICHAEL BOWMAN JR NANCY A BOWMAN PATRICK K BOWMAN SCOTT A BOWMAN SHANNON D BOWMAN STEVEN BOWMAN TERRY...

  • Page 88
    ... BURCH JEFFREY SCOTT BURCH JULIE ELIZABETH BURCH MORGAN BURCH ROBERT BURCH TAMMY BURCH GEORGE BURCHAM III TERRY D BURCHAM GEORGE H BURCHARD LUCAS W BURCHETT CORNEL BURCIU KEVIN S BURDESHAW RONALD E BURDETTE JAMES W BURDINE JOAN M BURDINE ANNA BUREACOVA JOSEPH BUREK JEFF B BURFIELD JAMES E BURFORD JR...

  • Page 89
    ... COLE BRIAN J COLE DAMIEN D COLE DAVID COLE DAVID E COLE DENNY COLE DOUGLAS J COLE FREDERICK COLE III GEORGE W COLE GREGORY B COLE JACOB PAUL COLE JIMMY D COLE JOSHUA COLE KEITH NEWTON COLE MONICA S COLE RABORN D COLE RICHARD A COLE ROBERT JAMES COLE SCOTT COLE TERRY L COLE JR WILLIAM MARLON COLE...

  • Page 90
    ...GEORGE P DRIGGERS III STEVEN A DRIGGERS KENNETH DRIGGINS JOHN L DRISLAN PRENTICE L DRIVER WALTER DROCZAK STEVEN W DROLLINGER CLIFFORD JOSEPH DROUET JR DUSTIN JAMES DRUMRIGHT EDWARD A DRUSCHITZ KELLY D DRUYOR LEONARD JAY DRYDEN MARK B DRYMALLA DEMIS DUARTE JOSEPH DUARTE CYNTHIA DUBE MARC DUBEAU DAVID...

  • Page 91
    ...B GARRETT STEVEN R GARRETT JAMES O GARRIGAN JR TERRY W GARRIS WILLIE D GARRIS BENJAMIN GARRISON DAVID GARRISON GEORGE GARRISON JOHN W GARRISON II...GILES MAYRA G GILES CURTIS GILILLAND DAMON P GILL DANE GILL HARRY JAMES GILL JERRY A GILL JOSEPH GILL KENNETH GILL WILLIAM GILL DARYL L GILLAND MATTHEW B ...

  • Page 92
    ... J HARRIS DAVID GLENN HARRIS DEMARCUS HARRIS DENNIS R HARRIS DERWIN M HARRIS DILLON J HARRIS DON H HARRIS EDWARD HARRIS ERICS L HARRIS FERLANDZ HARRIS GLENDA HARRIS GREGORY HARRIS HAROLD F HARRIS III JAMES K HARRIS JERRY HARRIS JESSE L HARRIS JOHN D HARRIS JOHN D HARRIS JONATHON HEATH HARRIS JOSEPH...

  • Page 93
    ...JAMALI ALAN D JAMES ALLAN K JAMES ANDREW RYAN JAMES BILL JAMES BRYAN R JAMES DALLAS L JAMES DENNIS JAMES ERIC JAMES ETHAN JAMES GEORGE L JAMES JR GREGORY CEASAR JAMES KATHERINE G JAMES KEITH JAMES KEVIN JAMES SAMANTHA L JAMES SARAH G JAMES SCOTT JAMES STANBORN JAMES THOMAS JAMES BLAKE ANDREW JAMISON...

  • Page 94
    ... KIMBROUGH KIMBERLY LANE KIMBROUGH JAMES W KIMMEL JASON KIMMEL LARRY L KIMMEL RICK L KIMMEL ROBERT E KIMMEL JOSHUA KIMMICH JEREMY L KIMPEL JOSHUA KIMPEL KEVIN G KIMPEL MICHAEL KIMPEL JOSEPH KIMPSON DAVID W KINARD DANNY R KINCAID DAVID A KINCAID DAVID N KINCAID JR GEORGE KINCAID III NATHAN KINCAID...

  • Page 95
    ... LOWE JAMES E LOWE III LESLEY A LOWE WILLIAM P LOWE WILLIAM SETH LOWE ZACHARY PAUL LOWE MELISSA LOWELL ALAN RAY LOWERY KENNETH D LOWERY MELINDA LOWERY TARA LOWERY TWAN LOWERY WILLIAM R LOWERY RICK C LOWMAN JOHN M LOWRY ZACHARY S LOWRY-SULLIVAN JOSE LOYA TENA CHARLOTTE LOYD ROBERT M LOZA JOSEPH...

  • Page 96
    ...JAMES MAY JAMES A MAY JAMES W MAY JEDIDIAH E MAY JEREMY M MAY JOSEPH CHRISTOPHER MAY JUSTIN MAY KELVIN MAY KENNETH D MAY MARK E MAY MICHEAL T MAY SCOTT A MAY WILLIE D MAY DONALD GENE MAYBERRY MARLON C MAYBERRY PIERRE MAYER TROY MAYER JULIAN L MAYERS CARLA G MAYES DAVID... GEORGE... MINOR TERRY L MINOR...BILL...