Nucor 2015 Annual Report Download - page 78

Download and view the complete annual report

Please find page 78 of the 2015 Nucor annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 98

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98

76
Net sales by product were as follows. Further product group breakdown is impracticable.
(in thousands)
Year Ended December 31, 2015 2014 2013
Net sales to external customers:
Sheet $ 4,628,805 $ 5,988,303 $ 5,219,464
Bar 3,005,450 4,051,171 3,730,328
Structural 2,137,413 2,617,196 2,558,538
Plate 1,312,663 2,066,972 1,803,618
Steel products 3,966,895 4,032,385 3,607,333
Raw materials 1,388,050 2,349,114 2,132,765
$ 16,439,276 $21,105,141 $19,052,046
24. QUARTERLY INFORMATION (UNAUDITED)
(in thousands, except per share data)
Year Ended December 31, First Quarter Second Quarter Third Quarter Fourth Quarter
2015
Net sales $4,399,440 $4,357,609 $4,225,514 $3,456,713
Gross margin(1) 288,282 386,306 523,836 382,838
Net earnings (loss)(2) 84,292 159,344 267,736 (15,288)
Net earnings (loss)
attributable to Nucor stockholders(2) 67,800 124,755 227,126 (62,022)
Net earnings (loss) per share:
Basic 0.21 0.39 0.71 (0.19)
Diluted 0.21 0.39 0.71 (0.19)
2014
Net sales $5,108,444 $5,291,075 $5,701,869 $5,003,753
Gross margin(3) 377,202 415,867 599,586 513,871
Net earnings(4) 129,696 166,935 274, 201 244,958
Net earnings attributable
to Nucor stockholders(4) 111,031 147,041 245,447 210,427
Net earnings per share:
Basic 0.35 0.46 0.76 0.66
Diluted 0.35 0.46 0.76 0.65
(1) Nucor incurred a LIFO credit of $16.5 million in the first quarter, a LIFO credit of $95.5 million in the second quarter, a LIFO credit of $137.0 million in the third quarter and a
LIFO credit of $217.8 million in the fourth quarter.
(2) Second quarter results include a $9.3 million benefit related to state tax credits. Third quarter results were impacted by an out-of-period non-cash gain of $10.2 million related
to a correction of deferred tax balances. Fourth quarter results were impacted by a $153.0 million impairment charge related to our Duferdofin Nucor S.r.l. joint venture and an
$84.1 million pre-tax impairment charge on assets related to the blast furnace project at the St. James Parish site.
(3) Nucor incurred a LIFO charge of $14.5 million in the first quarter, no charge or credit recorded in the second quarter, a LIFO credit of $14.5 million in the third quarter and
a LIFO credit of $57.3 million in the fourth quarter. Nucor incurred $8.9 million in inventory-related purchase accounting adjustments in the fourth quarter associated with
the acquisition of Gallatin.
(4) First quarter results include a $12.8 million charge related to tax legislation changes in the state of New York and a $9.0 million pre-tax charge related to the disposal of assets
within the steel mills segment. Third quarter results include a $12.5 million pre-tax charge related to the partial write-down of assets within the steel mills segment. Fourth
quarter results include a $9.2 million out-of-period non-cash gain related to a correction to tax balances.