Nucor 2015 Annual Report Download - page 76

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74
23. SEGMENTS
Nucor reports its results in the following segments: steel mills, steel products and raw materials. The steel mills segment includes
carbon and alloy steel in sheet, bars, structural and plate; steel foundation distributors; steel trading businesses; rebar distribution
businesses; and Nucor’s equity method investments in Duferdofin Nucor and NuMit. The steel products segment includes steel
joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems,
steel grating, 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 interests; and
Nucor’s equity method investment in Hunter Ridge. The steel mills, steel products and raw materials 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.
During the first six months of 2015, the Company performed certain internal reorganization activities. In connection with this
process, the financial information utilized by the Chief Operating Decision Maker when assessing segment performance and
making resource allocations was adjusted in a way that affected how certain assets are grouped. This resulted in certain assets
being reclassified between the steel mills segment, steel products segment, raw materials segment and corporate/eliminations
in order to align with the approach management uses to assess the performance of those segments. The segment data for the
comparable periods has also been reclassified in order to conform to the current period presentation. These reclassifications did
not have any impact on the consolidated asset balances nor did they impact any segment income statement amounts.
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, allowances to
eliminate intercompany profit in inventory, deferred income tax assets, federal and state income taxes receivable, the LIFO reserve
and investments in and advances to affiliates.