NUCOR CORP, 10-K filed on 2/27/2025
Annual Report
v3.25.0.1
Document and Entity Information - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Feb. 20, 2025
Jun. 28, 2024
Cover [Abstract]      
Document Type 10-K    
Amendment Flag false    
Document Period End Date Dec. 31, 2024    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Trading Symbol NUE    
Entity Registrant Name NUCOR CORPORATION    
Entity Central Index Key 0000073309    
Current Fiscal Year End Date --12-31    
Entity Filer Category Large Accelerated Filer    
Entity Emerging Growth Company false    
Entity Small Business false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Current Reporting Status Yes    
Entity Shell Company false    
Entity Interactive Data Current Yes    
Entity Voluntary Filers No    
Entity Well-known Seasoned Issuer Yes    
Title of 12(b) Security Common Stock, par value $0.40 per share    
Security Exchange Name NYSE    
Entity Incorporation, State or Country Code DE    
Document Annual Report true    
Document Transition Report false    
Entity File Number 1-4119    
Entity Tax Identification Number 13-1860817    
Entity Address, Address Line One 1915 Rexford Road    
Entity Address, City or Town Charlotte    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 28211    
City Area Code 704    
Local Phone Number 366-7000    
Entity Common Stock, Shares Outstanding   230,535,835  
Entity Public Float     $ 37,270
Documents Incorporated by Reference

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the registrant's annual report to stockholders for the year ended December 31, 2024, which will be posted to the registrant's website and furnished to the SEC subsequent to the date hereof are incorporated by reference into Part II of this report to the extent described herein. Portions of the registrant’s definitive proxy statement to be filed with the SEC in connection with the registrant’s 2025 Annual Meeting of Stockholders are incorporated by reference into Part III of this report to the extent described herein.

    
Auditor Name PricewaterhouseCoopers LLP    
Auditor Location Charlotte, North Carolina    
Auditor Firm ID 238    
Auditor Opinion [Text Block]

Opinions on the Financial Statements and Internal Control over Financial Reporting

We have audited the accompanying consolidated balance sheets of Nucor Corporation and its subsidiaries (the “Company”) as of December 31, 2024 and 2023, and the related consolidated statements of earnings, of comprehensive income, of stockholders’ equity and of cash flows for each of the three years in the period ended December 31, 2024, including the related notes (collectively referred to as the “consolidated financial statements”). We also have audited the Company's internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO.

    
v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 3,558 $ 6,383
Short-term investments 581 747
Accounts receivable, net 2,675 2,953
Inventories, net 5,106 5,578
Other current assets 555 725
Total current assets 12,475 16,386
Property, plant and equipment, net 13,243 11,050
Restricted cash and cash equivalents 0 4
Goodwill 4,288 3,969
Other intangible assets, net 3,134 3,108
Other assets 800 823
Total assets 33,940 35,340
Current liabilities:    
Short-term debt 225 119
Current portion of long-term debt and finance lease obligations 1,042 74
Accounts payable 1,832 2,020
Salaries, wages and related accruals 903 1,326
Accrued expenses and other current liabilities 975 1,056
Total current liabilities 4,977 4,595
Long-term debt and finance lease obligations due after one year 5,683 6,649
Deferred credits and other liabilities 1,863 1,973
Total liabilities 12,523 13,217
Commitments and contingencies
Nucor stockholders' equity:    
Common stock (800.0 shares authorized; 380.2 and 380.2 shares issued, respectively) 152 152
Additional paid-in capital 2,223 2,176
Retained earnings 30,271 28,762
Accumulated other comprehensive loss, net of income taxes (208) (162)
Treasury stock (147.4 and 135.3 shares, respectively) (12,144) (9,988)
Total Nucor stockholders’ equity 20,294 20,940
Noncontrolling interests 1,123 1,183
Total equity 21,417 22,123
Total liabilities and equity $ 33,940 $ 35,340
v3.25.0.1
Consolidated Balance Sheets (Parenthetical) - shares
Dec. 31, 2024
Dec. 31, 2023
Statement Of Financial Position [Abstract]    
Common stock shares authorized 800,000,000 800,000,000
Common stock shares issued 380,200,000 380,200,000
Treasury stock 147,400,000 135,300,000
v3.25.0.1
Consolidated Statements of Earnings - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Net sales $ 30,734 $ 34,714 $ 41,512
Costs, expenses and other:      
Cost of products sold 26,632 26,899 29,009
Marketing, administrative and other expenses 1,123 1,585 1,997
Equity in earnings of unconsolidated affiliates (30) (13) (11)
Losses and impairments of assets 137   102
Interest (income) expense, net (30) (30) 170
Costs, expenses and other, total 27,832 28,441 31,267
Earnings before income taxes and noncontrolling interests 2,902 6,273 10,245
Provision for income taxes 583 1,360 2,166
Net earnings before noncontrolling interests 2,319 4,913 8,079
Earnings attributable to noncontrolling interests 292 388 472
Net earnings attributable to Nucor stockholders $ 2,027 $ 4,525 $ 7,607
Net earnings per share:      
Basic $ 8.47 $ 18.05 $ 28.88
Diluted $ 8.46 $ 18 $ 28.79
v3.25.0.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement Of Comprehensive Income [Abstract]      
Net earnings before noncontrolling interests $ 2,319 $ 4,913 $ 8,079
Other comprehensive income (loss):      
Net unrealized (loss) gain on hedging derivatives, net of income taxes of ($3), ($17) and $24 for 2024, 2023, and 2022, respectively (6) (52) 77
Reclassification adjustment for gain (loss) on settlement of hedging derivatives included in net earnings, net of income taxes of $7 $4, and ($16) for 2024, 2023, and 2022, respectively 21 [1] 12 [2] (52)
Foreign currency translation (loss) gain, net of income taxes of $0 for 2024, 2023 and 2022 (61) 21 (55)
Adjustment to early retiree medical plan, net of income taxes of $0, ($2) and $2, for 2024, 2023 and 2022, respectively   (5) 6
Reclassification adjustment for (gain) loss on early retiree medical plan included in net earnings, net of income taxes of $0 for 2024, 2023 and 2022, respectively   (1) [2] 2
Net current-period other comprehensive income (loss) (46) (25) (22)
Comprehensive income 2,273 4,888 8,057
Comprehensive income attributable to noncontrolling interests 292 388 472
Comprehensive income attributable to Nucor stockholders $ 1,981 $ 4,500 $ 7,585
[1] Includes $21 and $(0) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $7 and $(0), respectively.
[2] Includes $12 and $(1) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $4 and $(0.30), respectively.
v3.25.0.1
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement Of Comprehensive Income [Abstract]      
Net unrealized (loss) gain on hedging derivatives, tax $ (3) $ (17) $ 24
Reclassification adjustment for gain (loss) on settlement of hedging derivatives included in net earnings, tax effect 7 4 (16)
Foreign currency translation (loss) gain, tax 0 0 0
Adjustment to early retiree medical plan, tax effect 0 (2) 2
Reclassification adjustment for (gain) loss on early retiree medical plan included in net earnings, tax effect $ 0 $ 0 $ 0
v3.25.0.1
Consolidated Statements of Stockholders' Equity - USD ($)
shares in Thousands, $ in Millions
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive (Loss) [Member]
Treasury Stock (at cost) [Member]
Total Nucor Stockholders' Equity [Member]
Noncontrolling Interests [Member]
BALANCES, beginning of period at Dec. 31, 2021 $ 14,604 $ 152 $ 2,141 $ 17,674 $ (115) $ (5,835) $ 14,017 $ 587
BALANCES, shares at beginning of period at Dec. 31, 2021   380,200       107,700    
Net earnings before noncontrolling interests 8,079     7,607     7,607 472
Other comprehensive income (loss) (22)       (22)   (22)  
Stock options exercised $ 23   (3)     $ 26 23  
Stock options exercised (in shares) (447)         (400)    
Stock option expense $ 5   5       5  
Issuance of stock under award plans, net of forfeitures 70   (4)     $ 74 70  
Issuance of stock under award plans, net of forfeitures, shares           (1,200)    
Amortization of unearned compensation 5   5       5  
Treasury stock acquired and net impact of excise tax (2,763)         $ (2,763) (2,763)  
Treasury stock acquired and net impact of excise tax ,shares           20,600    
Cash dividends declared (527)     (527)     (527)  
Distributions to noncontrolling interests (332)             (332)
Acquisition 428             428
BALANCES, end of period at Dec. 31, 2022 19,570 $ 152 2,144 24,754 (137) $ (8,498) 18,415 1,155
BALANCES, shares at end of period at Dec. 31, 2022   380,200       126,700    
Net earnings before noncontrolling interests 4,913     4,525     4,525 388
Other comprehensive income (loss) (25)       (25)   (25)  
Stock options exercised $ 12   (3)     $ 15 12  
Stock options exercised (in shares) (210)         (200)    
Stock option expense $ 5   5       5  
Issuance of stock under award plans, net of forfeitures 87   24     $ 63 87  
Issuance of stock under award plans, net of forfeitures, shares           (1,000)    
Amortization of unearned compensation 6   6       6  
Treasury stock acquired and net impact of excise tax (1,568)         $ (1,568) (1,568)  
Treasury stock acquired and net impact of excise tax ,shares           9,800    
Cash dividends declared (517)     (517)     (517)  
Distributions to noncontrolling interests (435)             (435)
Acquisition 75             75
BALANCES, end of period at Dec. 31, 2023 22,123 $ 152 2,176 28,762 (162) $ (9,988) 20,940 1,183
BALANCES, shares at end of period at Dec. 31, 2023   380,200       135,300    
Net earnings before noncontrolling interests 2,319     2,027     2,027 292
Other comprehensive income (loss) (46)       (46)   (46)  
Stock options exercised $ 4   (1)     $ 5 4  
Stock options exercised (in shares) (64)         (100)    
Stock option expense $ 5   5       5  
Issuance of stock under award plans, net of forfeitures 109   33     $ 76 109  
Issuance of stock under award plans, net of forfeitures, shares           (900)    
Amortization of unearned compensation 10   10       10  
Treasury stock acquired and net impact of excise tax (2,237)         $ (2,237) (2,237)  
Treasury stock acquired and net impact of excise tax ,shares           13,100    
Cash dividends declared (518)     (518)     (518)  
Distributions to noncontrolling interests (352)             (352)
BALANCES, end of period at Dec. 31, 2024 $ 21,417 $ 152 $ 2,223 $ 30,271 $ (208) $ (12,144) $ 20,294 $ 1,123
BALANCES, shares at end of period at Dec. 31, 2024   380,200       147,400    
v3.25.0.1
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement Of Stockholders Equity [Abstract]      
Cash dividends declared per share $ 2.17 $ 2.07 $ 2.01
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net earnings before noncontrolling interests $ 2,319 $ 4,913 $ 8,079
Adjustments:      
Depreciation 1,094 931 827
Amortization 262 238 235
Stock-based compensation 132 130 137
Deferred income taxes (116) 21 (47)
Distributions from affiliates 25 34 57
Equity in earnings of unconsolidated affiliates (30) (13) (11)
Losses and impairments of assets 137   102
Changes in assets and liabilities (exclusive of acquisitions and dispositions):      
Accounts receivable 319 664 501
Inventories 518 (75) 962
Accounts payable (321) 361 (496)
Federal income taxes 97 188 (337)
Salaries, wages and related accruals (385) (291) 155
Other operating activities (72) 11 (92)
Cash provided by operating activities 3,979 7,112 10,072
Investing activities:      
Capital expenditures (3,173) (2,214) (1,948)
Investment in and advances to affiliates   (35)  
Sale of business 1   100
Disposition of plant and equipment 17 15 32
Acquisitions (net of cash acquired) (758) (71) (3,553)
Purchases of investments (1,296) (1,472) (914)
Proceeds from the sale of investments 1,487 1,317 590
Other investing activities (12) (36) (10)
Cash used in investing activities (3,734) (2,496) (5,703)
Financing activities:      
Net change in short-term debt 105 (25) (59)
Proceeds from issuance of long-term debt, net of discount     2,092
Repayment of long-term debt (10) (10) (1,111)
Bond issuance costs     (13)
Proceeds from exercise of stock options 4 12 23
Payment of tax withholdings on certain stock-based compensation (53) (49) (64)
Distributions to noncontrolling interests (352) (435) (332)
Cash dividends (522) (515) (534)
Acquisition of treasury stock (2,217) (1,554) (2,763)
Proceeds from government incentives     275
Other financing activities (13) (17) (25)
Cash used in financing activities (3,058) (2,593) (2,511)
Effect of exchange rate changes on cash (16) 3 (6)
(Decrease) increase in cash and cash equivalents and restricted cash and cash equivalents (2,829) 2,026 1,852
Cash and cash equivalents and restricted cash and cash equivalents - beginning of year 6,387 4,361 2,509
Cash and cash equivalents and restricted cash and cash equivalents - end of year 3,558 6,387 4,361
Non-cash investing activity:      
Change in accrued plant and equipment purchases $ 115 $ 1 $ 5
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 28, 2024
Jun. 29, 2024
Mar. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jul. 01, 2023
Apr. 01, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure                      
Net Income (Loss) $ 287 $ 250 $ 645 $ 845 $ 785 $ 1,142 $ 1,461 $ 1,137 $ 2,027 $ 4,525 $ 7,607
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Rule 10b5-1 Arrangement Modified false
Non-Rule 10b5-1 Arrangement Modified false
v3.25.0.1
Insider Trading Policies and Procedures
 3 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management, Strategy, and Governance Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Abstract]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

Item 1C. Cybersecurity

Nucor recognizes the importance of developing, implementing, and maintaining effective cybersecurity measures designed to protect our information systems and the confidentiality, integrity, and availability of our data. We face a number of information technology and cybersecurity threats which could have an adverse effect on our business and results of operations.

Notwithstanding the Company’s cybersecurity framework and preventative strategies, we may not be successful in preventing or mitigating a cybersecurity incident that could have a material adverse effect on us. See “Item 1A. Risk Factors” for a discussion of cybersecurity risks.

Risk Management and Strategy

Overview

We have developed and implemented a cybersecurity risk management program that is intended to enable us to assess, identify, and manage risk associated with cybersecurity threats. Our program is based on the Cybersecurity Framework promulgated by the National Institute of Standards and Technology and other applicable industry standards, and includes the following key elements:

•
identification and assessment of cybersecurity threats based on internal and external assessments and monitoring, information from internal stakeholders, and external publications and resources such as those made available by the United States Cybersecurity and Infrastructure Security Agency;
•
technical and organizational safeguards designed to protect against identified threats, including documented policies and procedures, technical controls, and employee education and awareness;
•
processes to detect the occurrence of cybersecurity events, and maintenance and regular testing of incident response and recovery and business continuity plans and processes; and
•
a third-party risk management process to manage cybersecurity risks associated with our service providers, suppliers, and vendors.

The program is designed to foster a culture of cybersecurity risk management across the Company.

Integrated Overall Risk Management

Assessing, identifying, and managing cybersecurity-related risks is integrated into our overall risk management framework. The Company conducts an annual cybersecurity risk assessment and reports the most significant risks and associated planned mitigation strategies to the Audit Committee of the Board of Directors. The annual risk assessment is carried out under the supervision of the Executive Vice President of Business Services and General Counsel, the President of Nucor Business Technology, the Company’s Cybersecurity Director, and the Company’s Vice President and Corporate Controller. See “Governance” below. The Board also regularly receives focused presentations regarding cybersecurity risks from the Company’s Cybersecurity Director.

Third-Party Engagement

Due to the complexity and ever-changing nature of cybersecurity threats, Nucor engages a range of external experts to assist in its assessment, identification, and management of risks from cybersecurity threats. These include cybersecurity assessors, forensic and incident response experts, and auditors to review the Company’s cybersecurity posture and responsive efforts. Our relationships with these external partners enable us to leverage their expertise with the goal of maintaining best practices.

Oversight of Third-Party Risks

Our third-party service providers, suppliers, and vendors face their own risks from cybersecurity threats that could impact Nucor in certain circumstances. In response, we have implemented processes for overseeing and managing these risks. Those processes include limiting the exposure of our information systems to external systems to the least practicable amount, assessing the third parties’ information security practices before allowing them to access our information systems or data, requiring the third parties to implement appropriate cybersecurity controls in our agreements with them, and conducting ongoing monitoring of their compliance with those requirements. We also utilize third-party risk and compliance monitoring services to monitor our service providers, suppliers, and vendors and to augment the effectiveness of our risk mitigation efforts in this area.

Risks from Cybersecurity Threats

As of the date of this report, no risks from cybersecurity threats, including as a result of cybersecurity incidents we have experienced in the past, have materially affected or are reasonably likely to materially affect the Company, including its business strategy, results of operations, or financial condition.

Governance

The Company seeks to ensure effective governance in managing risks associated with cybersecurity threats, as more thoroughly described below.

Board of Directors Oversight

The Audit Committee of the Board of Directors is responsible for the oversight of risks from cybersecurity threats. The Audit Committee is composed of directors with a wide range of experience, including risk management and controls, and technology. See “Integrated Overall Risk Management” above.

Management’s Role in Cybersecurity Risk Management

A division of the Company known as Nucor Business Technology, or NBT, is responsible for the Company’s information technology needs, including cybersecurity risk assessment and management. NBT’s cybersecurity function is led by the Cybersecurity Director, who reports to the President of NBT, who in turn reports to the Company's Executive Vice President of Business Services and General Counsel and to the Chair, President, and Chief Executive Officer. The current Cybersecurity Director has more than twenty years of experience in the cybersecurity field and has broad expertise in cybersecurity threat assessments and detection, mitigation technologies, cybersecurity training, and incident response.

The Company also has a Risk Committee composed of the following members of the Company’s management:

•
Executive Vice President of Business Services & General Counsel
•
President, Nucor Business Technology
•
Vice President and Corporate Controller
•
Vice President and General Manager, Corporate Legal Affairs
•
General Manager of Internal Audit
•
Cybersecurity Director
•
Director of Legal Compliance and Assistant Corporate Secretary
•
Manager of External Reporting

The Risk Committee is responsible for overseeing the Company’s response to cybersecurity incidents. The Risk Committee and the Chair, President, and Chief Executive Officer inform the Audit Committee and the Board of Directors on cybersecurity risks.

Monitoring of Cybersecurity Incidents

The Cybersecurity Director implements and oversees our processes for regularly monitoring our information systems. This includes security measures and regular audits to identify potential issues. In the event of a cybersecurity incident, we have an established incident response plan that requires prompt notification of the Cybersecurity Director or their designee, who in turn oversees our assessment of and response to the incident. The Cybersecurity Director is also responsible for informing the Risk Committee

of cybersecurity incidents, which in turn has a detailed process for assessing the impacts of incidents and monitoring the Company’s mitigation and remediation efforts. Depending on the nature of the incident, this process also provides for escalating notification to senior executives, including the Chair, President, and Chief Executive Officer, the Executive Vice President of Business Services and General Counsel and to the Board of Directors.

Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Assessing, identifying, and managing cybersecurity-related risks is integrated into our overall risk management framework.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]

Governance

The Company seeks to ensure effective governance in managing risks associated with cybersecurity threats, as more thoroughly described below.

Board of Directors Oversight

The Audit Committee of the Board of Directors is responsible for the oversight of risks from cybersecurity threats. The Audit Committee is composed of directors with a wide range of experience, including risk management and controls, and technology. See “Integrated Overall Risk Management” above.

Management’s Role in Cybersecurity Risk Management

A division of the Company known as Nucor Business Technology, or NBT, is responsible for the Company’s information technology needs, including cybersecurity risk assessment and management. NBT’s cybersecurity function is led by the Cybersecurity Director, who reports to the President of NBT, who in turn reports to the Company's Executive Vice President of Business Services and General Counsel and to the Chair, President, and Chief Executive Officer. The current Cybersecurity Director has more than twenty years of experience in the cybersecurity field and has broad expertise in cybersecurity threat assessments and detection, mitigation technologies, cybersecurity training, and incident response.

The Company also has a Risk Committee composed of the following members of the Company’s management:

•
Executive Vice President of Business Services & General Counsel
•
President, Nucor Business Technology
•
Vice President and Corporate Controller
•
Vice President and General Manager, Corporate Legal Affairs
•
General Manager of Internal Audit
•
Cybersecurity Director
•
Director of Legal Compliance and Assistant Corporate Secretary
•
Manager of External Reporting

The Risk Committee is responsible for overseeing the Company’s response to cybersecurity incidents. The Risk Committee and the Chair, President, and Chief Executive Officer inform the Audit Committee and the Board of Directors on cybersecurity risks.

Monitoring of Cybersecurity Incidents

The Cybersecurity Director implements and oversees our processes for regularly monitoring our information systems. This includes security measures and regular audits to identify potential issues. In the event of a cybersecurity incident, we have an established incident response plan that requires prompt notification of the Cybersecurity Director or their designee, who in turn oversees our assessment of and response to the incident. The Cybersecurity Director is also responsible for informing the Risk Committee

of cybersecurity incidents, which in turn has a detailed process for assessing the impacts of incidents and monitoring the Company’s mitigation and remediation efforts. Depending on the nature of the incident, this process also provides for escalating notification to senior executives, including the Chair, President, and Chief Executive Officer, the Executive Vice President of Business Services and General Counsel and to the Board of Directors.

Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]

The Audit Committee of the Board of Directors is responsible for the oversight of risks from cybersecurity threats. The Audit Committee is composed of directors with a wide range of experience, including risk management and controls, and technology. See “Integrated Overall Risk Management” above.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Risk Committee and the Chair, President, and Chief Executive Officer inform the Audit Committee and the Board of Directors on cybersecurity risks.
Cybersecurity Risk Role of Management [Text Block]

A division of the Company known as Nucor Business Technology, or NBT, is responsible for the Company’s information technology needs, including cybersecurity risk assessment and management. NBT’s cybersecurity function is led by the Cybersecurity Director, who reports to the President of NBT, who in turn reports to the Company's Executive Vice President of Business Services and General Counsel and to the Chair, President, and Chief Executive Officer. The current Cybersecurity Director has more than twenty years of experience in the cybersecurity field and has broad expertise in cybersecurity threat assessments and detection, mitigation technologies, cybersecurity training, and incident response.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]

The Risk Committee is responsible for overseeing the Company’s response to cybersecurity incidents. The Risk Committee and the Chair, President, and Chief Executive Officer inform the Audit Committee and the Board of Directors on cybersecurity risks.

Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] Cybersecurity Director is also responsible for informing the Risk Committee

of cybersecurity incidents, which in turn has a detailed process for assessing the impacts of incidents and monitoring the Company’s mitigation and remediation efforts. Depending on the nature of the incident, this process also provides for escalating notification to senior executives, including the Chair, President, and Chief Executive Officer, the Executive Vice President of Business Services and General Counsel and to the Board of Directors.

Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Nature of Operations and Basis of Presentation
 12 Months Ended
Dec. 31, 2024
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Nature of Operations and Basis of Presentation

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 Consolidation

The consolidated financial statements include Nucor and its controlled subsidiaries, including Nucor-Yamato Steel Company (Limited Partnership) (“Nucor-Yamato”), of which Nucor owns 51%; California Steel Industries, Inc. (“CSI”), of which Nucor owns 51%; and Nucor-JFE Steel Mexico, S. de R.L. de C.V. ("NJSM"), of which Nucor owns 51%. All intercompany transactions are eliminated.

Distributions are made to noncontrolling interest partners in Nucor-Yamato in accordance with the limited partnership agreement by mutual agreement of the general partners. At a minimum, sufficient cash is distributed so that each partner may pay its U.S. federal and state income taxes.

Distributions are made to noncontrolling interest partners in CSI in accordance with the stockholder agreement.

Distributions are made to the noncontrolling interest partner in NJSM in accordance with the joint venture agreement.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates.
v3.25.0.1
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Cash and Cash Equivalents

Cash equivalents are recorded at cost plus accrued interest, which approximates fair value, and have original maturities of three months or less at the date of purchase. Cash and cash equivalents are maintained primarily with a few high-credit quality financial institutions.

Short-term Investments

Short-term investments are recorded at fair value. Unrealized gains and losses on investments classified as available-for-sale are recorded as a component of accumulated other comprehensive income (loss) if material. Management determines the appropriate classification of its investments at the time of purchase and re-evaluates such determination at each balance sheet date.

Inventories

Inventories are stated at the lower of cost or net realizable value. The Company records any amount required to reduce the carrying value of inventory to net realizable value as a charge to cost of products sold. Scrap and scrap substitute costs are a very significant component of the raw material, semi-finished and finished product inventory balances. The vast majority of the Company’s inventory is recorded on the first-in, first-out method. Production costs are applied to semi-finished and finished product inventory from the approximate period in which they are produced.

Property, Plant and Equipment

Property, plant and equipment is stated at cost, except for property, plant and equipment acquired through acquisitions which is recorded at acquisition date fair value. With the exception of our natural gas wells, depreciation primarily is provided on a straight-line basis over the estimated useful lives of the assets. Depletion of all capitalized costs associated with our natural gas producing properties is expensed on a unit-of-production basis by individual field as the gas from the proved developed reserves is produced. The costs of acquiring unproved natural gas leasehold acreage are capitalized. When proved reserves are found on unproved properties, the associated leasehold cost is transferred to proved properties. Unproved leases are reviewed periodically for any impairment triggering event, and a valuation allowance is provided for any estimated decline in value. The costs of planned major maintenance activities are capitalized as part of other current assets and amortized over the period until the next scheduled major maintenance activity. All other repairs and maintenance activities are expensed when incurred.

Goodwill and Other Intangibles

Goodwill is the excess of cost over the fair value of net assets of businesses acquired. Goodwill is not amortized but is tested annually for impairment and whenever events or circumstances change that would make it more likely than not that an impairment may have occurred. We perform our annual impairment analysis as of the first day of the fourth quarter each year. The evaluation of impairment involves comparing the current estimated fair value of each reporting unit, which is a level below the operating segment, to the recorded value, including goodwill. When appropriate, Nucor performs a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on the results of the qualitative assessment, it may be necessary to perform a quantitative analysis. In these instances, a discounted cash flow model is used to determine the current estimated fair value of these reporting units. A number of significant assumptions and estimates are involved in the application of the discounted cash flow model to forecast operating cash flows, which could include market growth and market share, sales volumes and prices, raw materials and other 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 units are estimated. Assumptions in estimating future cash flows are subject to a high degree of judgment and complexity. Changes in assumptions and estimates may affect the fair value of goodwill and could result in impairment charges in future periods.

Finite-lived intangible assets are amortized over their estimated useful lives on a straight-line or accelerated basis.

Long-Lived Asset Impairments

We evaluate our property, plant and equipment and finite-lived intangible assets for potential impairment on an individual asset basis or at the lowest level asset grouping for which independent cash flows can be separately identified. Asset impairments are assessed whenever circumstances indicate that the carrying amounts of those productive assets could exceed their projected undiscounted cash flows. When it is determined that impairment exists, the related assets are written down to their estimated fair market value.

Equity Method Investments

Investments in joint ventures in which Nucor shares control over the financial and operating decisions but in which Nucor is not the primary beneficiary are accounted for under the equity method. Each of the Company’s equity method investments is subject to a review for impairment if, and when, circumstances indicate that a decline in fair value below its carrying amount may have occurred. Examples of such circumstances include, but are not limited to, a significant deterioration in the earnings performance or business prospects of the investee; missed financial projections; a significant adverse change in the regulatory, tax, economic or technological environment of the investee; a significant adverse change in the general market condition of either the geographic area or the industry in which the investee operates; and recurring negative cash flows from operations. If management considers the decline to be other than temporary, the Company would write down the related investment to its estimated fair market value.

Revenue Recognition

Nucor recognizes revenue when obligations under the terms of contracts with our customers are satisfied and collection is reasonably assured; generally, obligations under the terms of contracts are satisfied upon shipment or when control is transferred. Revenue is measured as the amount of consideration expected to be received in exchange for transferring the goods. In addition, revenue is deferred when cash payments are received or due in advance of performance. See Note 23 for further information.

Income Taxes

Nucor utilizes the liability method of accounting for income taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized.

Nucor recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Potential accrued interest and penalties related to unrecognized tax benefits are recognized as a component of interest expense and other expenses.

Stock-Based Compensation

The Company recognizes the cost of stock-based compensation as an expense using fair value measurement methods. The assumptions used to calculate the fair value of stock-based compensation granted are evaluated and revised for new grants, as necessary, to reflect market conditions and experience.

Foreign Currency Translation

For Nucor’s operations where the functional currency is other than the U.S. dollar, assets and liabilities have been translated at year-end exchange rates, and income and expenses have been translated using average exchange rates for the respective periods. Adjustments resulting from the process of translating an entity’s financial statements into the U.S. dollar have been recorded in accumulated other comprehensive income (loss) and are included in net earnings only upon sale or liquidation of the underlying investments. Foreign currency transaction gains and losses are included in net earnings in the period they occur.

Recently Issued Accounting Pronouncements

In December 2023, new accounting guidance was issued related to income tax disclosures. The new guidance requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The new guidance is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted

for annual financial statements that have not yet been issued or made available for issuance. This new guidance will likely result in additional required disclosures when adopted. The Company is evaluating the impact that the adoption of this new guidance will have on its consolidated financial statements.

In November 2024, new accounting guidance was issued that requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization, within relevant income statement captions. The new accounting guidance also requires disclosure of the total amount of selling expenses along with the definition of selling expenses. The new accounting guidance is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Adoption of this new accounting guidance can either be applied prospectively to consolidated financial statements issued for reporting periods after the effective date or retrospectively to any or all prior periods presented in the consolidated financial statements. Early adoption is also permitted. The Company is evaluating the impact that the adoption of this new guidance will have on its consolidated financial statements.

Recently Adopted Accounting Pronouncements

In November 2023, new accounting guidance was issued that updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss. This new guidance also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The new guidance is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We adopted this guidance retrospectively on December 31, 2024. As a result, we have enhanced our segment disclosures to include the presentation of cost of sales by segment and the disclosure of our CODMs. The adoption of this accounting guidance affects only our disclosures, with no impacts to our financial condition and results of operations.
v3.25.0.1
Short-term Investments
 12 Months Ended
Dec. 31, 2024
Text Block [Abstract]  
Short-term Investments

3. Short-term Investments

Nucor held $581 million of short-term investments as of December 31, 2024 ($747 million as of December 31, 2023). The investments held as of December 31, 2024 and December 31, 2023 consisted mainly of certificates of deposit (“CD’s”), commercial paper, corporate bonds and U.S. government securities, which were classified as available-for-sale. Interest income on the CD’s and corporate bonds was recorded as earned.

Realized and unrealized gains or losses have been deemed immaterial for disclosure by Nucor management.
v3.25.0.1
Accounts Receivable
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Accounts Receivable

4. Accounts Receivable

An allowance for credit losses is maintained for estimated losses resulting from the inability of our customers to make required payments. Accounts receivable are stated net of the allowance for credit losses of $115 million at December 31, 2024 ($127 million at December 31, 2023 and $200 million at December 31, 2022).
v3.25.0.1
Inventories
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Inventories

5. Inventories

Inventories consisted of approximately 34% raw materials and supplies and 66% finished and semi-finished products at December 31, 2024 (37% and 63%, respectively at December 31, 2023). Nucor’s manufacturing process consists of a continuous, vertically integrated process from which products are sold to customers at various stages throughout the process. Since most steel products can be classified as either finished or semi-finished products, these two categories of inventory are combined.
v3.25.0.1
Leases
 12 Months Ended
Dec. 31, 2024
Disclosure Of Leases [Abstract]  
Leases

6. Leases

We lease certain equipment, office space and land. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet.

Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or sometimes more. The exercise of lease renewal options is at our sole discretion and we consider these options in determining the lease term used to establish our right-of-use assets and lease liabilities. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements is limited by the expected lease term, unless there is a transfer of title or a purchase option reasonably certain of exercise.

We determine that a contract contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. In evaluating whether we have the right to control the use of an identified asset, we assess whether or not we have the right to control the use of the identified asset and to obtain substantially all of the economic benefit from the use of the identified asset.

As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments.

Certain of our lease agreements include payments that adjust periodically for consumption of goods provided by the right-of-use asset in excess of contractually determined minimum amounts and for inflation. These variable lease payments are not significant. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Supplemental statement of earnings information related to our leases is as follows (in millions):

 

 

 

 

 

Year Ended December 31,

 

 

 

Statement of Earnings Classification

 

2024

 

 

2023

 

 

2022

 

Operating lease cost

 

Cost of products sold

 

$

18

 

 

$

27

 

 

$

24

 

Operating lease cost

 

Marketing, administrative and
other expenses

 

 

11

 

 

 

3

 

 

 

3

 

Total operating
   lease cost

 

 

 

$

29

 

 

$

30

 

 

$

27

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

 

 

Amortization of leased
   assets

 

Cost of products sold

 

$

30

 

 

$

19

 

 

$

19

 

Interest on lease
   liabilities

 

Interest expense, net

 

 

3

 

 

 

12

 

 

 

12

 

Total finance lease
   cost

 

 

 

$

33

 

 

$

31

 

 

$

31

 

Total lease cost

 

 

 

$

62

 

 

$

61

 

 

$

58

 

 

Supplemental cash flow information related to our leases is as follows (in millions):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Cash paid for amounts included in measurement of lease
   liabilities:

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

30

 

 

$

30

 

 

$

27

 

Operating cash flows from finance leases

 

$

11

 

 

$

12

 

 

$

12

 

Financing cash flows from finance leases

 

$

14

 

 

$

17

 

 

$

16

 

Non-cash investing and financing activities:

 

 

 

 

 

 

 

 

 

Additions to right-of-use assets obtained from

 

 

 

 

 

 

 

 

 

Operating lease liabilities

 

$

36

 

 

$

27

 

 

$

34

 

Finance lease liabilities

 

$

15

 

 

$

16

 

 

$

27

 

 

Supplemental balance sheet information related to our leases is as follows (in millions):

 

 

 

 

 

December 31,

 

 

 

Balance Sheet Classification

 

2024

 

 

2023

 

Assets:

 

 

 

 

 

 

 

 

Operating lease

 

Other assets

 

$

107

 

 

$

103

 

Finance lease

 

Property, plant and equipment, net

 

 

163

 

 

 

167

 

Total leased

 

 

 

$

270

 

 

$

270

 

Liabilities:

 

 

 

 

 

 

 

 

Current operating

 

Accrued expenses and other current liabilities

 

$

24

 

 

$

25

 

Current finance

 

Current portion of long-term debt and
finance lease obligations

 

 

17

 

 

 

14

 

Non-current operating

 

Deferred credits and other liabilities

 

 

93

 

 

 

82

 

Non-current finance

 

Long-term debt and finance lease
obligations due after one year

 

 

174

 

 

 

175

 

Total leased

 

 

 

$

308

 

 

$

296

 

 

 

Weighted-average remaining lease term and discount rate for our leases are as follows:

 

 

 

December 31, 2024

 

Weighted-average remaining lease term - operating leases

 

7.8 years

 

Weighted-average remaining lease term - finance leases

 

13.1 years

 

Weighted-average discount rate - operating leases

 

 

4.5

%

Weighted-average discount rate - finance leases

 

 

10.4

%

 

The reason for the substantial weighted-average discount rate – finance leases, of 10.4%, is due to Nucor’s past accounting for the respective finance leases under the former accounting guidance for capital leases. Pursuant to the former lease accounting guidance, the recognition of a capital lease asset and associated capital lease liability could not exceed the fair market value of the leased asset at the lease commencement. Accordingly, the incremental borrowing rate was adjusted upward so that the present value of the minimum lease payments would equal the fair value of the asset.

Maturities of lease liabilities by year for our leases were as follows as of December 31, 2024 (in millions):

 

 

 

Operating Leases

 

 

Finance Leases

 

Maturities of lease liabilities, year ending December 31,

 

 

 

 

 

 

2025

 

$

29

 

 

$

25

 

2026

 

 

25

 

 

 

24

 

2027

 

 

19

 

 

 

23

 

2028

 

 

16

 

 

 

22

 

2029

 

 

12

 

 

 

21

 

Thereafter

 

 

41

 

 

 

145

 

Total lease payments

 

$

142

 

 

$

260

 

Less imputed interest

 

 

(25

)

 

 

(69

)

Present value of lease liabilities

 

$

117

 

 

$

191

 
v3.25.0.1
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2024
Property Plant And Equipment [Abstract]  
Property, Plant and Equipment

7. Property, Plant and Equipment

 

Property, plant and equipment is carried at historical cost, net of accumulated depreciation. Net property, plant and equipment by major asset class consisted of the following (in millions):

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

Land and improvements, net

 

$

1,257

 

 

$

1,183

 

Buildings and improvements

 

 

2,764

 

 

 

2,551

 

Machinery and equipment

 

 

17,431

 

 

 

16,328

 

Proved oil and gas properties

 

 

559

 

 

 

559

 

Leasehold interest in unproved oil and gas properties

 

 

96

 

 

 

96

 

Construction in process and equipment deposits

 

 

3,758

 

 

 

2,122

 

 

 

25,865

 

 

 

22,839

 

Less accumulated depreciation

 

 

(12,622

)

 

 

(11,789

)

 

$

13,243

 

 

$

11,050

 

 

The estimated useful lives primarily range from five to 25 years for land improvements, four to 40 years for buildings and improvements and two to 15 years for machinery and equipment. The useful life for proved oil and gas properties is based on the unit-of-production method and varies by well.

 

Included within property, plant and equipment, net, of the steel mills segment at December 31, 2024 is $235 million of assets, net of accumulated depreciation, related to our consolidated joint venture NJSM. During the fourth quarter 2024, the Company determined that a triggering event occurred after review of NJSM’s most recent annual forecast. The Company performed an impairment assessment to determine if

the carrying amount of NJSM exceeded its projected undiscounted cash flows. Upon completion of the assessment, the Company determined that the carrying amount did not exceed its projected undiscounted cash flows and no impairment charge was required. Nucor will continue to monitor NJSM’s financial performance. If NJSM’s financial performance underperforms its forecasts, management may determine that a triggering event has occurred and additional testing may be required.

Raw Materials Segment Asset Impairments

In the fourth quarter of 2022, Nucor decided that it is unlikely to develop the remaining portions of its unproved oil and natural gas properties. As a result of this decision, Nucor recorded a $96.0 million impairment charge for the entire balance of those assets, which are included in the raw materials segment. The impairment charge is included in losses and impairments of assets in the consolidated statement of earnings for the year ended December 31, 2022. We retain ownership of our leasehold interest in unproved oil and natural gas properties. The carrying value of the leasehold interest in unproved oil and gas properties was zero at December 31, 2022.

Financial Assistance Related to Sheet Mill in West Virginia

Nucor received $275 million of financial assistance in 2022 from the West Virginia Department of Economic Development in connection with Nucor’s planned construction of Nucor Steel West Virginia (NSWV), a sheet mill in Mason County, West Virginia. Nucor will earn the financial assistance if, by the Completion Date (defined in the agreement as on or before December 31, 2026), Nucor meets certain capital investment, full-time jobs creation and total annual payroll criteria. Nucor believes that it is probable we will meet these conditions. Nucor spent $180 million in 2022 and $95 million in 2023 in qualifying expenditures for the construction of NSWV, and that amount is included as a contra-asset in construction in process and equipment deposits that are a part of property, plant and equipment, net on the consolidated balance sheet at December 31, 2024 and December 31, 2023. When the NSWV assets are placed into service, the effect of depreciating the assets constructed with the financial assistance will decrease depreciation expense in the consolidated statement of earnings.

v3.25.0.1
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Abstract]

8. Goodwill and Other Intangible Assets

The change in the net carrying amount of goodwill for the years ended December 31, 2024 and 2023 by segment is as follows:

 

 

 

(in millions)

 

 

 

Steel

 

 

Steel

 

 

Raw

 

 

 

 

 

 

Mills

 

 

Products

 

 

Materials

 

 

Total

 

Balance, December 31, 2022

 

$

675

 

 

$

2,510

 

 

$

735

 

 

$

3,920

 

Acquisitions

 

 

—

 

 

 

(2

)

 

 

45

 

 

 

43

 

Translation

 

 

—

 

 

 

6

 

 

 

—

 

 

 

6

 

Balance, December 31, 2023

 

 

675

 

 

 

2,514

 

 

 

780

 

 

 

3,969

 

Acquisitions

 

 

—

 

 

 

318

 

 

 

17

 

 

 

335

 

Translation

 

 

—

 

 

 

(16

)

 

 

—

 

 

 

(16

)

Balance, December 31, 2024

 

$

675

 

 

$

2,816

 

 

$

797

 

 

$

4,288

 

 

The majority of goodwill is not tax deductible.

Intangible assets with estimated useful lives of five to 25 years are amortized on a straight-line or accelerated basis and are comprised of the following:

 

 

 

(in millions)

 

 

 

December 31, 2024

 

 

December 31, 2023

 

 

 

Gross

 

 

Accumulated

 

 

Gross

 

 

Accumulated

 

 

 

Amount

 

 

Amortization

 

 

Amount

 

 

Amortization

 

Customer relationships

 

$

4,444

 

 

$

1,512

 

 

$

4,190

 

 

$

1,296

 

Trademarks and trade names

 

 

387

 

 

 

192

 

 

 

372

 

 

 

168

 

Other

 

 

129

 

 

 

122

 

 

 

110

 

 

 

100

 

 

 

$

4,960

 

 

$

1,826

 

 

$

4,672

 

 

$

1,564

 

 

Intangible asset amortization expense was $262 million in 2024 ($238 million in 2023 and $235 million in 2022). Annual amortization expense is estimated to be $253 million in 2025, $248 million in 2026, $245 million in 2027, $242 million in 2028 and $208 million in 2029.

The Company completed its annual goodwill impairment testing as of the first day of the fourth quarter for each of 2024, 2023 and 2022 and concluded that as of each such date there was no impairment of goodwill for any of its reporting units.

There are no material historical accumulated impairment charges, by segment or in the aggregate, related to goodwill.
v3.25.0.1
Equity Investments
 12 Months Ended
Dec. 31, 2024
Equity Method Investments And Joint Ventures [Abstract]  
Equity Investments

9. Equity Investments

The carrying value of our equity investments in domestic and foreign companies was $483 million at December 31, 2024 ($480 million at December 31, 2023), and is recorded in other assets in the consolidated balance sheets.

NuMit

Nucor owns a 50% economic and voting interest in NuMit LLC (“NuMit”). NuMit owns 100% of the equity interest in Steel Technologies LLC, an operator of 32 sheet processing facilities located throughout the United States, Canada and Mexico. Nucor accounts for its investment in NuMit (on a one-month lag basis) under the equity method, as control and risk of loss are shared equally between the members of NuMit. Nucor’s investment in NuMit was $438 million at December 31, 2024 ($432 million at December 31, 2023). Nucor received distributions of $25 million, $33 million, and $56 million from NuMit during 2024, 2023 and 2022, respectively.

All Equity Investments

 

Nucor reviews its equity investments for impairment if and when circumstances indicate that a decline in fair value below their carrying amounts may have occurred. There were no triggering events that caused management to pursue additional testing of our equity method investments in 2024.
v3.25.0.1
Current Liabilities
 12 Months Ended
Dec. 31, 2024
Payables And Accruals [Abstract]  
Current Liabilities

10. Current Liabilities

Book overdrafts, included in accounts payable in the consolidated balance sheets, were $146 million at December 31, 2024 ($159 million at December 31, 2023). Dividends payable, included in accrued expenses and other current liabilities in the consolidated balance sheets, were $129 million at December 31, 2024 ($134 million at December 31, 2023).
v3.25.0.1
Debt and Other Financing Arrangements
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt and Other Financing Arrangements

11. Debt and Other Financing Arrangements

 

 

 

December 31,

 

(in millions)

 

2024

 

 

2023

 

Industrial revenue bonds due from 2025 to 2061 (1)

 

$

1,350

 

 

$

1,350

 

NJSM notes due from 2025 to 2029 (2)

 

 

80

 

 

 

80

 

Notes, 2.000%, due 2025

 

 

500

 

 

 

500

 

Notes, 3.950%, due 2025

 

 

500

 

 

 

500

 

Notes, 4.300%, due 2027

 

 

500

 

 

 

500

 

Term notes, 2.950%, due 2027 (3)

 

 

48

 

 

 

58

 

Notes, 3.950%, due 2028

 

 

500

 

 

 

500

 

Notes, 2.700%, due 2030

 

 

500

 

 

 

500

 

Notes, 3.125%, due 2032

 

 

550

 

 

 

550

 

Notes, 6.400%, due 2037

 

 

543

 

 

 

543

 

Notes, 5.200%, due 2043

 

 

338

 

 

 

338

 

Notes, 4.400%, due 2048

 

 

329

 

 

 

329

 

Notes, 3.850%, due 2052

 

 

550

 

 

 

550

 

Notes, 2.979%, due 2055

 

 

439

 

 

 

439

 

Finance lease obligations

 

 

191

 

 

 

189

 

Total long-term debt and finance lease obligations

 

 

6,918

 

 

 

6,926

 

Less premium on debt exchange

 

 

165

 

 

 

171

 

Less debt issuance costs

 

 

28

 

 

 

32

 

Total amounts outstanding

 

 

6,725

 

 

 

6,723

 

Less current maturities of long-term debt (2) (3)

 

 

1,025

 

 

 

60

 

Less current portion of finance lease obligations

 

 

17

 

 

 

14

 

Total long-term debt and finance lease obligations due after
   one year

 

$

5,683

 

 

$

6,649

 

 

(1)
The industrial revenue bonds had variable rates ranging from 3.92% to 4.70% at December 31, 2024 and 4.20% to 5.10% at December 31, 2023.
(2)
The NJSM notes relate to borrowings of NJSM under its General Financing Agreement and Promissory Note (the “NJSM Facility”). The maximum amount NJSM could borrow under the NJSM Facility was $80 million at December 31, 2024. The NJSM Facility is uncommitted. Borrowings under the NJSM Facility had variable rates ranging from 5.46% to 6.88% at December 31, 2024.
(3)
The term notes were assumed in conjunction with the acquisition of 51% ownership of CSI on February 1, 2022. The original principal amount of the notes was $101 million, with a fixed rate of 2.95% until September 30, 2026 when they will convert to a floating rate. Payments of $3 million are due quarterly along with accrued interest. The term notes mature on March 31, 2027. (See Note 24.)

 

Annual aggregate long-term debt maturities are: $1.03 billion in 2025, $65 million in 2026, $532 million in 2027, $553 million in 2028, $66 million in 2029 and $4.48 billion thereafter

 

Nucor's $1.75 billion revolving credit facility remains undrawn and has a maturity date of November 5, 2026. The unsecured revolving credit facility provides up to $1.75 billion in revolving loans and allows up to $500 million in additional commitments at Nucor’s election in accordance with the terms set forth in the credit agreement. Up to $100 million of the credit facility is available for the issuance of letters of credit and up to $500 million is available for the issuance of revolving loans for Nucor subsidiaries in accordance with the terms set forth in the credit agreement. The credit facility provides for a pricing grid based upon the credit rating of Nucor’s senior unsecured long-term debt and, alternatively, interest rates quoted by lenders in connection with competitive bidding. The credit facility includes customary financial and other covenants, including a limit on the ratio of funded debt to total capital of 60%, a limit on Nucor’s

ability to pledge the Company’s assets and a limit on consolidations, mergers and sales of assets. As of December 31, 2024, Nucor’s funded debt to total capital ratio was 25%, and Nucor was in compliance with all covenants under the credit facility. No borrowings were outstanding under the credit facility as of December 31, 2024 and 2023.

 

On March 11, 2022, Nucor completed the issuance and sale of $550 million aggregate principal amount of its 3.125% Notes due 2032 (the “2032 Notes”) and $550 million aggregate principal amount of its 3.850% Notes due 2052 (the “2052 Notes” and, together with the 2032 Notes, the “2032/2052 Notes”). The net proceeds from the issuance and sale of the 2032/2052 Notes were used along with cash on hand to redeem all of the outstanding $600 million aggregate principal amount of our 4.125% Notes due 2022 (the “2022 Notes”) and $500 million aggregate principal amount of our 4.000% Notes due 2023 (the “2023 Notes”) pursuant to the terms of the indenture governing the 2022 Notes and the 2023 Notes. The net proceeds from the issuance and sale of the 2032/2052 Notes were $1.09 billion, after expenses and the underwriting discount. Costs of $15 million associated with the issuance and sale of the 2032/2052 Notes have been capitalized and will be amortized over the life of the 2032/2052 Notes.

On April 25, 2022, Nucor redeemed all $500 million aggregate principal amount outstanding of the 2023 Notes using a portion of the net proceeds from the issuance and sale of the 2032/2052 Notes. On August 15, 2022, Nucor redeemed all $600 million aggregate principal amount outstanding of the 2022 Notes using the remaining portion of the net proceeds from the issuance and sale of the 2032/2052 Notes.

On May 23, 2022, Nucor completed the issuance and sale of $500 million aggregate principal amount of its 3.950% Notes due 2025 (the “2025 Notes”) and $500 million aggregate principal amount of its 4.300% Notes due 2027 (the “2027 Notes” and, together with the 2025 Notes, the “2025/2027 Notes”). The net proceeds from the issuance and sale of the 2025/2027 Notes were used for general corporate purposes and to pay a portion of the purchase price for the acquisition of C.H.I. The net proceeds from the issuance and sale of the 2025/2027 Notes were $992 million, after expenses and the underwriting discount. Costs of $6 million associated with the issuance and sale of the 2025/2027 Notes have been capitalized and will be amortized over the life of the 2025/2027 Notes.

Harris Steel has credit facilities totaling approximately $18 million, with no outstanding borrowings at December 31, 2024 and 2023.

The business of Nucor Trading S.A. is financed by uncommitted trade credit arrangements with a number of European banking institutions. As of December 31, 2024, Nucor Trading S.A. had outstanding borrowings of $45 million ($24 million as of December 31, 2023). NJSM maintains an uncommitted trade credit agreement with three banking institutions. As of December 31, 2024, NJSM had outstanding borrowings of $180 million ($95 million as of December 31, 2023) under the trade credit agreement. Nucor Trading S.A. and NJSM's credit arrangements are presented in short-term debt in the consolidated balance sheets.

Letters of credit totaling $59 million were outstanding as of December 31, 2024 ($58 million as of December 31, 2023), related to certain obligations, including workers’ compensation, utilities deposits and credit arrangements by Nucor Trading S.A. for commitments to purchase inventories.

v3.25.0.1
Capital Stock
 12 Months Ended
Dec. 31, 2024
Text Block [Abstract]  
Capital Stock

12. 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 $4.00 per share, are authorized, with preferences, rights and restrictions as may be fixed by the Board of Directors. There are no shares of preferred stock issued or outstanding.

Dividends declared per share were $2.170 in 2024 ($2.070 in 2023 and $2.010 per share in 2022).

The Company repurchased approximately $2.22 billion of its common stock in 2024 (approximately $1.55 billion in 2023 and $2.76 billion in 2022).

On May 11, 2023, the Company announced that the Board of Directors had approved a share repurchase program under which the Company is authorized to repurchase up to $4.00 billion of the Company’s common stock and terminated all previously authorized share repurchase programs. Share repurchases are made from time to time in the open market at prevailing market prices or through private transactions or block trades. The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements and other factors. The share repurchase authorization is discretionary and has no expiration date. At December 31, 2024, the Company had approximately $1.11 billion available for share repurchases under the program authorized by the Company’s Board of Directors.
v3.25.0.1
Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2024
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments

13. Derivative Financial Instruments

The following tables summarize information regarding Nucor’s derivative financial instruments (in millions):

 

 

 

 

 

Fair Value at

 

 

 

 

 

December 31,

 

Fair Value of Derivative Financial
   Instruments

 

Consolidated Balance Sheet Location

 

2024

 

 

2023

 

Asset derivatives designated
   as hedging instruments:

 

 

 

 

 

 

 

 

Commodity contracts

 

Other current assets

 

$

4

 

 

$

—

 

Commodity contracts

 

Other assets

 

 

2

 

 

 

—

 

 

 

 

 

 

 

 

 

 

Total asset derivatives
   designated as hedging
   instruments

 

 

 

 

6

 

 

 

—

 

 

 

 

 

 

 

 

 

 

Asset derivatives not
   designated as hedging
   instruments:

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

Other current assets

 

 

1

 

 

 

—

 

 

 

 

 

 

 

 

 

 

Total asset derivatives

 

 

 

$

7

 

 

$

—

 

 

 

 

 

 

 

 

 

 

Liability derivatives designated
   as hedging instruments:

 

 

 

 

 

 

 

 

Commodity contracts

 

Accrued expenses and other current liabilities

 

$

(4

)

 

$

(15

)

Commodity contracts

 

Deferred credits and other liabilities

 

 

—

 

 

 

(4

)

 

 

 

 

 

 

 

 

 

Total liability derivatives
   designated as hedging
   instruments

 

 

 

 

(4

)

 

 

(19

)

Liability derivatives not designated
   as hedging instruments:

 

 

 

 

 

 

 

 

Commodity contracts

 

Accrued expenses and other current liabilities

 

 

—

 

 

 

(4

)

 

 

 

 

 

 

 

 

 

Total liability derivatives

 

 

 

$

(4

)

 

$

(23

)

 

 

The Effect of Derivative Financial Instruments on the Consolidated Statements of Earnings

 

Derivatives Designated as Hedging Instruments for the Year Ended December 31, (in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of Gain or

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss), Net of Tax,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of Gain or (Loss),

 

 

Reclassified from

 

 

Amount of Gain or (Loss),

 

 

 

Statement of

 

Net of Tax, Recognized

 

 

Accumulated OCI into

 

 

Net of Tax, Recognized

 

Derivatives in Cash Flow

 

Earnings

 

in OCI on Derivatives

 

 

Earnings on Derivatives

 

 

in Earnings on Derivatives

 

Hedging Relationships

 

Location

 

(Effective Portion)

 

 

(Effective Portion)

 

 

(Ineffective Portion)

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2024

 

 

2023

 

 

2022

 

 

2024

 

 

2023

 

 

2022

 

Commodity contracts

 

Cost of products sold

 

$

(6

)

 

$

(52

)

 

$

77

 

 

$

(21

)

 

$

(12

)

 

$

52

 

 

$

—

 

 

$

—

 

 

$

—

 

 

At December 31, 2024, natural gas swaps covering approximately 33 million MMBTUs (extending through December 2026) were outstanding.
v3.25.0.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements

14. Fair Value Measurements

The following table summarizes information regarding Nucor’s financial assets and liabilities that are measured at fair value. Nucor does not have any non-financial assets or liabilities that are measured at fair value on a recurring basis.

 

 

 

 

 

 

(in millions)

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

 

 

 

Quoted Prices

 

 

 

 

 

 

 

 

 

 

 

 

in Active

 

 

Significant

 

 

 

 

 

 

Carrying

 

 

Markets for

 

 

Other

 

 

Significant

 

 

 

Amount in

 

 

Identical

 

 

Observable

 

 

Unobservable

 

 

 

Consolidated

 

 

Assets

 

 

Inputs

 

 

Inputs

 

Description

 

Balance Sheets

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

As of December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

2,821

 

 

$

2,821

 

 

$

—

 

 

$

—

 

Short-term investments

 

 

581

 

 

 

581

 

 

 

 

 

 

 

Derivative contracts

 

 

7

 

 

 

—

 

 

 

7

 

 

 

—

 

Restricted cash and cash
   equivalents

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Other assets

 

 

96

 

 

 

27

 

 

 

—

 

 

 

69

 

Total assets

 

$

3,505

 

 

$

3,429

 

 

$

7

 

 

$

69

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative contracts

 

$

(4

)

 

$

—

 

 

$

(4

)

 

$

—

 

As of December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

5,725

 

 

$

5,725

 

 

$

—

 

 

$

—

 

Short-term investments

 

 

747

 

 

 

747

 

 

 

—

 

 

 

—

 

Derivative contracts

 

 

-

 

 

 

—

 

 

 

—

 

 

 

—

 

Restricted cash and cash
   equivalents

 

 

3

 

 

 

3

 

 

 

—

 

 

 

—

 

Other assets

 

 

48

 

 

 

4

 

 

 

—

 

 

 

44

 

Total assets

 

$

6,523

 

 

$

6,479

 

 

$

—

 

 

$

44

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative contracts

 

$

(23

)

 

$

—

 

 

$

(23

)

 

$

—

 

 

Fair value measurements for Nucor’s cash equivalents, short-term investments and restricted cash and cash equivalents and an investment in a publicly traded nuclear power equipment manufacturer are classified under Level 1 because such measurements are based on quoted market prices in active markets for identical assets. Fair value measurements for Nucor’s derivatives, which are typically commodity or foreign exchange contracts, are classified under Level 2 because such measurements are based on published market prices for similar assets or are estimated based on observable inputs such as interest rates, yield curves, credit risks, spot and future commodity prices, and spot and future exchange rates. Fair value measurements of Nucor's investments in privately held companies, most of which is in a nuclear fusion technology company, are classified under Level 3 because such measurements are based on unobservable inputs that indicate a change in fair value, including the transaction price in the event of a change in ownership of the investee (e.g. the sale of other investors' interest in the company) or the transaction price in the event of additional equity issuances of the investee. There were no transfers between levels in the fair value hierarchy for the periods presented.

The fair value of short-term and long-term debt, including current maturities, was approximately $6.19 billion at December 31, 2024 (approximately $6.22 billion at December 31, 2023). The debt fair value estimates are classified under Level 2 because such estimates are based on readily available market prices of our debt at December 31, 2024 and 2023, or similar debt with the same maturities, ratings and interest rates.
v3.25.0.1
Contingencies
 12 Months Ended
Dec. 31, 2024
Commitments And Contingencies Disclosure [Abstract]  
Contingencies

15. Contingencies

We are from time to time a party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of business. With respect to all such lawsuits, claims and proceedings, we record reserves when it is probable a liability has been incurred and the amount of loss can be reasonably estimated. We do not believe that any of these proceedings, individually or in the aggregate, would be expected to have a material adverse effect on our results of operations, financial position or cash flows. Nucor maintains liability insurance with self-insurance limits for certain risks.
v3.25.0.1
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2024
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-Based Compensation

16. Stock-Based Compensation

Overview

The Company maintains the Nucor Corporation 2014 Omnibus Incentive Compensation Plan (the “Omnibus Plan”) under which the Company may award stock-based compensation to key employees, officers and non-employee directors. The Company’s stockholders approved an amendment and restatement of the Omnibus Plan on May 14, 2020. The Company also amended the Omnibus Plan on September 14, 2023. The Omnibus Plan, as amended and restated, permits the award of stock options, restricted stock units, restricted shares and other stock-based awards for up to 19 million shares of the Company’s common stock. As of December 31, 2024, 3 million shares remained available for award under the Omnibus Plan.

The Company also maintains a number of inactive plans under which stock-based awards remain outstanding but no further awards may be made. As of December 31, 2024, 0.1 million shares were reserved for issuance upon the future settlement of outstanding awards under such inactive plans.

Stock Options

Stock options may be granted 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.

A summary of activity under Nucor’s stock option plans is as follows (shares in thousands):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

 

Exercise

 

 

 

 

 

Exercise

 

 

 

 

 

Exercise

 

 

 

Shares

 

 

Price

 

 

Shares

 

 

Price

 

 

Shares

 

 

Price

 

Number of shares under stock options:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     Outstanding at beginning of year

 

 

718

 

 

$

78.33

 

 

 

837

 

 

$

66.76

 

 

 

1,186

 

 

$

55.58

 

Granted

 

 

73

 

 

$

168.85

 

 

 

91

 

 

$

133.03

 

 

 

98

 

 

$

130.71

 

Exercised

 

 

(64

)

 

$

55.84

 

 

 

(210

)

 

$

55.85

 

 

 

(447

)

 

$

51.14

 

Canceled

 

 

(3

)

 

$

168.85

 

 

 

—

 

 

$

—

 

 

 

—

 

 

$

—

 

Outstanding at end of year

 

 

724

 

 

$

89.06

 

 

 

718

 

 

$

78.33

 

 

 

837

 

 

$

66.76

 

Stock options exercisable at end of year

 

 

490

 

 

$

63.65

 

 

 

433

 

 

$

48.33

 

 

 

313

 

 

$

59.60

 

 

The total intrinsic value of stock options (the amount by which the stock price exceeded the exercise price of the stock option on the date of exercise) that were exercised during 2024 was $9 million ($25 million in 2023 and $32 million in 2022).

The following table summarizes information about stock options outstanding at December 31, 2024 (shares in thousands):

 

 

Options Outstanding

 

 

Options Exercisable

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

Weighted-

 

 

 

 

 

Weighted-

 

Range of

 

Number

 

 

Remaining
Contractual

 

Average
Exercise

 

 

Number

 

 

Average
Exercise

 

Exercise Prices

 

Outstanding

 

 

Life

 

Price

 

 

Exercisable

 

 

Price

 

$40.00 - $70.00

 

 

355

 

 

5.2 years

 

$

44.06

 

 

 

355

 

 

$

44.06

 

$70.01 - $100.00

 

 

—

 

 

0.0 years

 

$

—

 

 

 

—

 

 

$

—

 

$100.01 - $130.00

 

 

116

 

 

6.4 years

 

$

110.74

 

 

 

116

 

 

$

110.74

 

$130.01 - $160.00

 

 

183

 

 

7.9 years

 

$

131.86

 

 

 

16

 

 

$

131.44

 

$160.01 - $168.85

 

 

70

 

 

9.4 years

 

$

168.85

 

 

 

4

 

 

$

168.85

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$40.00 - $168.85

 

 

724

 

 

6.5 years

 

$

89.06

 

 

 

491

 

 

$

63.65

 

 

As of December 31, 2024, the total aggregate intrinsic value of stock options outstanding and stock options exercisable was $26 million and $26 million, respectively.

The grant date fair value of stock options granted was $67.83 per share in 2024 ($49.62 per share in 2023 and $45.27 per share in 2022). The fair value was estimated using the Black-Scholes options pricing model with the following assumptions:

 

 

2024

 

 

2023

 

 

2022

 

Exercise price

 

$

168.85

 

 

$

133.03

 

 

$

130.71

 

Expected dividend yield

 

 

1.28

%

 

 

1.53

%

 

 

1.53

%

Expected stock price volatility

 

 

37.69

%

 

 

37.55

%

 

 

35.77

%

Risk-free interest rate

 

 

4.52

%

 

 

3.66

%

 

 

2.98

%

Expected life (years)

 

 

6.5

 

 

 

6.5

 

 

 

6.5

 

 

 

Stock options granted to employees who are eligible for retirement on the date of the grant are expensed immediately since these awards vest upon retirement from the Company. Retirement, for purposes of vesting in these stock options, means termination of employment after satisfying age and years of service requirements. Similarly, stock options granted to employees who will become retirement-eligible prior to the end of the vesting term are expensed over the period through which the employee will become retirement-eligible. Compensation expense for stock options granted to employees who will not become retirement-eligible prior to the end of the vesting term is recognized on a straight-line basis over the vesting period. Compensation expense for stock options was $5 million in 2024 ($5 million in 2023 and $5 million in 2022). As of December 31, 2024, unrecognized compensation expense related to stock options was $2 million, which is expected to be recognized over a weighted-average period of 1.9 years.

Restricted Stock Units

Nucor annually grants restricted stock units (“RSUs”) to key employees, officers and non-employee directors. The RSUs granted to key employees and officers vest and are converted to common stock in three equal installments on each of the first three anniversaries of the grant date, provided that a portion of the RSUs awarded to an officer prior to 2018 vest only upon the officer’s retirement. Retirement, for purposes of vesting in these RSUs only, means termination of employment with approval of the Compensation and Executive Development Committee of the Board of Directors after satisfying age and years of service requirements. RSUs granted to a non-employee director are fully vested on the grant date and are payable to the non-employee director in the form of common stock after the termination of the director’s service on the Board of Directors.

RSUs granted to employees who are eligible for retirement on the date of the grant are expensed immediately, and RSUs granted to employees who will become retirement-eligible prior to the end of the vesting term are expensed over the period through which the employee will become retirement-eligible since these awards vest upon retirement from the Company. Compensation expense for RSUs granted to employees who will not become retirement-eligible prior to the end of the vesting term is recognized on a straight-line basis over the vesting period.

Cash dividend equivalents are paid to holders of RSUs each quarter. Dividend equivalents paid on RSUs expected to vest are recognized as a reduction in retained earnings.

The fair value of an RSU is determined based on the closing price of Nucor’s common stock on the date of the grant.

A summary of Nucor’s RSU activity is as follows (shares in thousands):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

 

 

 

Grant Date

 

 

 

 

Grant Date

 

 

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Restricted stock units:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unvested at beginning of year

 

 

947

 

 

$

124.89

 

 

 

1,003

 

 

$

98.66

 

 

 

1,167

 

 

$

60.45

 

Granted

 

 

749

 

 

$

168.85

 

 

 

831

 

 

$

133.03

 

 

 

774

 

 

$

130.71

 

Vested

 

 

(651

)

 

$

143.20

 

 

 

(873

)

 

$

102.79

 

 

 

(916

)

 

$

77.21

 

Canceled

 

 

(24

)

 

$

149.59

 

 

 

(14

)

 

$

106.76

 

 

 

(22

)

 

$

93.73

 

Unvested at end of year

 

 

1,021

 

 

$

144.89

 

 

 

947

 

 

$

124.89

 

 

 

1,003

 

 

$

98.66

 

 

Compensation expense for RSUs was $106 million in 2024 ($88 million in 2023 and $80 million in 2022). The total fair value of shares vested during 2024 was $110 million ($121 million in 2023 and $120 million in 2022). As of December 31, 2024, unrecognized compensation expense related to unvested RSUs was $101 million, which is expected to be recognized over a weighted-average period of 1.1 years.

Restricted Stock Awards

Prior to their expiration effective December 31, 2017, the Nucor Corporation Senior Officers Long-Term Incentive Plan and the Nucor Corporation Senior Officers Annual Incentive Plan authorized the award of shares of common stock to officers subject to certain conditions and restrictions. Effective January 1, 2018, the Company adopted supplements to the Omnibus Plan with terms that permit the award of shares of common stock to officers subject to the conditions and restrictions described below, which are substantially similar to those of the expired Senior Officers Long-Term Incentive Plan and Senior Officers Annual Incentive Plan. The expired Senior Officers Long-Term Incentive Plan, together with the applicable supplement, is referred to below as the “LTIP,” and the expired Senior Officers Annual Incentive Plan, together with the applicable supplement, is referred to below as the “AIP.”

The LTIP provides for the award of shares of restricted common stock at the end of each LTIP performance measurement period at no cost to officers if certain financial performance goals are met during the period. One-third of the LTIP restricted stock award vests upon each of the first three anniversaries of the award date or, if earlier, upon the officer’s attainment of age 55 while employed by Nucor. Although participants are entitled to cash dividends and may vote such awarded shares, the sale or transfer of such shares is limited during the restricted period.

The AIP provides for the payment of annual cash incentive awards. An AIP participant may elect, however, to defer payment of up to one-half of an AIP award. In such event, the deferred AIP award is converted into common stock units and credited with a deferral incentive, in the form of additional common stock units, equal to 25% of the number of common stock units attributable to the deferred AIP award. Common stock units attributable to deferred AIP awards are fully vested. Common stock units credited as a deferral incentive vest upon the AIP participant’s attainment of age 55 while employed by Nucor. Vested common stock units are paid to AIP participants in the form of shares of common stock following their termination of employment with Nucor.

A summary of Nucor’s restricted stock activity under the AIP and the LTIP is as follows (shares in thousands):

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

 

 

Grant Date

 

 

 

 

Grant Date

 

 

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Restricted stock units and restricted
   stock awards:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unvested at beginning of year

 

 

210

 

 

$

145.55

 

 

 

209

 

 

$

108.55

 

 

 

107

 

 

$

57.17

 

Granted

 

 

421

 

 

$

187.54

 

 

 

414

 

 

$

171.38

 

 

 

465

 

 

$

128.62

 

Vested

 

 

(383

)

 

$

175.06

 

 

 

(406

)

 

$

152.68

 

 

 

(356

)

 

$

119.29

 

Canceled

 

 

—

 

 

$

—

 

 

 

(7

)

 

$

154.05

 

 

 

(7

)

 

$

113.86

 

Unvested at end of year

 

 

248

 

 

$

169.36

 

 

 

210

 

 

$

145.55

 

 

 

209

 

 

$

108.55

 

 

Compensation expense for common stock and common stock units awarded under the AIP and the LTIP is recorded over the performance measurement and vesting periods based on the anticipated number and market value of shares of common stock and common stock units to be awarded. Compensation expense for anticipated awards based upon Nucor’s financial performance, exclusive of amounts payable in cash, was $21 million in 2024 ($38 million in 2023 and $51 million in 2022). The total fair value of shares vested during 2024 was $71 million ($69 million in 2023 and $46 million in 2022). As of December 31, 2024, unrecognized compensation expense related to unvested restricted stock awards was $10 million, which is expected to be recognized over a weighted-average period of 1.7 years.
v3.25.0.1
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2024
Compensation And Retirement Disclosure [Abstract]  
Employee Benefit Plans

17. 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 $298 million in 2024 ($611 million in 2023 and $994 million in 2022). The related liability for these benefits is included in salaries, wages and related accruals in the consolidated balance sheets.

Nucor also has a medical plan covering certain eligible early retirees. The unfunded obligation, included in deferred credits and other liabilities in the consolidated balance sheets, totaled $35 million at December 31, 2024 ($33 million at December 31, 2023). The expense associated with this early retiree medical plan totaled $3 million in 2024 ($0.3 million in 2023 and $2 million in 2022). The discount rate used by Nucor in determining its benefit obligation was 5.7% in 2024 (5.0% in 2023 and 5.2% in 2022). The health care cost increase trend rate used was 6.3% in 2024 (6.8% in 2023 and 6.3% in 2022). The health care cost increase trend rate is projected to decline gradually to 4.0% by 2050.
v3.25.0.1
Interest (Income) Expense
 12 Months Ended
Dec. 31, 2024
Banking and Thrift, Interest [Abstract]  
Interest (Income) Expense

18. Interest (Income) Expense

The components of net interest (income) expense are as follows (in millions):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Interest expense

 

$

228

 

 

$

246

 

 

$

219

 

Interest income

 

 

(258

)

 

 

(276

)

 

 

(49

)

Interest (income) expense, net

 

$

(30

)

 

$

(30

)

 

$

170

 

 

Interest paid was $256 million in 2024 ($257 million in 2023 and $230 million in 2022).

v3.25.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes

19. Income Taxes

Components of earnings before income taxes and noncontrolling interests are as follows (in millions):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

United States

 

$

2,884

 

 

$

6,204

 

 

$

10,213

 

Foreign

 

 

18

 

 

 

69

 

 

 

32

 

 

$

2,902

 

 

$

6,273

 

 

$

10,245

 

 

The provision for income taxes consists of the following (in millions):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Current:

 

 

 

 

 

 

 

 

 

Federal

 

$

587

 

 

$

1,128

 

 

$

1,896

 

State

 

 

77

 

 

 

194

 

 

 

304

 

Foreign

 

 

35

 

 

 

17

 

 

 

13

 

Total current

 

 

699

 

 

 

1,339

 

 

 

2,213

 

Deferred:

 

 

 

 

 

 

 

 

 

Federal

 

 

(108

)

 

 

20

 

 

 

77

 

State

 

 

(7

)

 

 

(19

)

 

 

(120

)

Foreign

 

 

(1

)

 

 

20

 

 

 

(4

)

Total deferred

 

 

(116

)

 

 

21

 

 

 

(47

)

Total provision for income taxes

 

$

583

 

 

$

1,360

 

 

$

2,166

 

 

A reconciliation of the federal statutory tax rate (21%) to the total provision is as follows:

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Taxes computed at statutory rate

 

 

21.00

%

 

 

21.00

%

 

 

21.00

%

State income taxes, net of federal income tax benefit

 

 

1.79

%

 

 

2.14

%

 

 

1.41

%

Federal research credit

 

 

-1.55

%

 

 

-0.51

%

 

 

-0.10

%

Equity in losses of foreign joint venture

 

 

0.00

%

 

 

0.17

%

 

 

0.11

%

Foreign rate differential

 

 

-0.10

%

 

 

0.10

%

 

 

0.00

%

Foreign valuation allowance

 

 

1.13

%

 

 

0.08

%

 

 

0.00

%

Noncontrolling interests

 

 

-2.33

%

 

 

-1.27

%

 

 

-0.85

%

Other, net

 

 

0.15

%

 

 

-0.03

%

 

 

-0.44

%

Provision for income taxes

 

 

20.09

%

 

 

21.68

%

 

 

21.13

%

 

For the year ended December 31, 2024, the effective tax rate on continuing operations was 20.09% compared to 21.68% for the year ended December 31, 2023.

Deferred tax assets and liabilities resulted from the following (in millions):

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

Deferred tax assets:

 

 

 

 

 

 

Accrued liabilities and reserves

 

$

248

 

 

$

253

 

Allowance for doubtful accounts

 

 

40

 

 

 

39

 

Inventory

 

 

87

 

 

 

141

 

Research and development expenditures

 

 

207

 

 

 

134

 

Post-retirement benefits

 

 

9

 

 

 

8

 

Hedges

 

 

—

 

 

 

5

 

Net operating loss carryforward

 

 

113

 

 

 

94

 

Tax credit carryforwards

 

 

127

 

 

 

216

 

Other deferred tax assets

 

 

14

 

 

 

12

 

Valuation allowance

 

 

(152

)

 

 

(210

)

Total deferred tax assets

 

 

693

 

 

 

692

 

Deferred tax liabilities:

 

 

 

 

 

 

Holdbacks and amounts not due under contracts

 

 

(12

)

 

 

(16

)

Hedges

 

 

(1

)

 

 

—

 

Intangibles

 

 

(690

)

 

 

(706

)

Property, plant and equipment

 

 

(1,085

)

 

 

(1,170

)

Other deferred tax liabilities

 

 

(53

)

 

 

(48

)

Book/Tax differences on debt modifications

 

 

(44

)

 

 

(44

)

Total deferred tax liabilities

 

 

(1,885

)

 

 

(1,984

)

Total net deferred tax liabilities

 

$

(1,192

)

 

$

(1,292

)

 

Non-current deferred tax assets included in other assets in the consolidated balance sheets were $44 million at December 31, 2024 ($41 million at December 31, 2023). Non-current deferred tax liabilities included in deferred credits and other liabilities in the consolidated balance sheets were $1.24 billion at December 31, 2024 ( $1.33 billion at December 31, 2023). Current federal and state income taxes receivable included in other current assets in the consolidated balance sheets were $218 million at December 31, 2024 ($346 million at December 31, 2023). Nucor paid $508 million in net federal, state and foreign income taxes in 2024 ($1.06 billion and $2.63 billion in 2023 and 2022, respectively).

Nucor has not recognized deferred tax liabilities on its investment in foreign subsidiaries with undistributed earnings that satisfy the permanent reinvestment requirements (the deferred tax liabilities on the investments not permanently reinvested are immaterial). While Nucor considers future earnings to be permanently reinvested, it is expected that potential future distributions will likely be nontaxable. If this assertion of permanent reinvestment were to change, there may be deferred tax liabilities related to the

withholding tax impacts on the actual distribution of certain cumulative undistributed foreign earnings, but the Company believes this amount to be immaterial.

State NOL carryforwards were $200 million at December 31, 2024 ($185 million at December 31, 2023). If unused, they will expire between 2025 and 2044. Foreign NOL carryforwards were $355 million at December 31, 2024 ($326 million at December 31, 2023). If unused, the foreign NOL carryforwards will expire between 2026 and 2034.

At December 31, 2024, Nucor had approximately $212 million of unrecognized tax benefits, of which $209 million would affect Nucor's effective tax rate, if recognized. At December 31, 2023, Nucor had approximately $188 million of unrecognized tax benefits, of which $188 million would affect Nucor's effective tax rate, if recognized.

A reconciliation of the beginning and ending amounts of unrecognized tax benefits recorded in deferred credits and other liabilities in the consolidated balance sheets is as follows (in millions):

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Balance at beginning of year

 

$

188

 

 

$

142

 

 

$

95

 

Additions based on tax positions related to current year

 

 

31

 

 

 

44

 

 

 

55

 

Reductions based on tax positions related to
   current year

 

 

—

 

 

 

—

 

 

 

—

 

Additions based on tax positions related to prior years

 

 

7

 

 

 

10

 

 

 

13

 

Reductions based on tax positions related to
   prior years

 

 

(8

)

 

 

(1

)

 

 

(9

)

Reductions due to settlements with taxing authorities

 

 

—

 

 

 

—

 

 

 

—

 

Reductions due to statute of limitations lapse

 

 

(6

)

 

 

(7

)

 

 

(12

)

Balance at end of year

 

$

212

 

 

$

188

 

 

$

142

 

 

We estimate that in the next 12 months, our gross uncertain tax positions, exclusive of interest, could decrease by as much as $32 million, as a result of the expiration of the applicable statute of limitations.

During 2024, Nucor recognized $12 million of expense in interest and penalties ($10 million of expense in 2023 and $9 million of expense in 2022). The interest and penalties are included in interest expense, net and marketing, administrative and other expenses, respectively, in the consolidated statements of earnings. As of December 31, 2024, Nucor had approximately $50 million of accrued interest and penalties related to uncertain tax positions (approximately $37 million at December 31, 2023). The accrued interest and penalties are included in accrued expenses and other current liabilities and deferred credits and other liabilities, respectively, in the consolidated balance sheets.

The IRS is currently examining Nucor’s 2015, 2019, and 2020 federal income tax returns. Nucor has concluded U.S. federal income tax matters for tax years through 2014, and for the tax years 2016 through 2018. The tax years 2021 through 2023 remain open to examination by the IRS. The 2015 through 2021 Canadian income tax returns for Nucor Rebar Fabrication Group Inc. (formerly known as Harris Steel Group Inc.) and certain related affiliates are currently under examination by the Canada Revenue Agency. The tax years 2016 through 2023 remain open to examination by other major taxing jurisdictions to which Nucor is subject (primarily Canada, Trinidad & Tobago, and other state and local jurisdictions).
v3.25.0.1
Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)

20. Accumulated Other Comprehensive Income (Loss)

The following tables reflect the changes in accumulated other comprehensive income (loss) by component (in millions):

 

 

 

Gains and
(Losses) on

 

 

Foreign
Currency

 

 

Adjustment
to Early

 

 

 

 

 

 

Hedging
Derivatives

 

 

Gains
(Losses)

 

 

Retiree
Medical Plan

 

 

Total

 

December 31, 2023

 

$

(14

)

 

$

(159

)

 

$

11

 

 

$

(162

)

Other comprehensive income
   (loss) before reclassifications

 

 

(6

)

 

 

(61

)

 

 

—

 

 

 

(67

)

Amounts reclassified from
   accumulated other
   comprehensive income
   (loss) into earnings (1)

 

 

21

 

 

 

—

 

 

 

—

 

 

 

21

 

Net current-period other
   comprehensive income (loss)

 

 

15

 

 

 

(61

)

 

 

—

 

 

 

(46

)

December 31, 2024

 

$

1

 

 

$

(220

)

 

$

11

 

 

$

(208

)

 

(1)
Includes $21 and $(0) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $7 and $(0), respectively.

 

 

 

Gains and
(Losses) on

 

 

Foreign
Currency

 

 

Adjustment
to Early

 

 

 

 

 

 

Hedging
Derivatives

 

 

Gains
(Losses)

 

 

Retiree
Medical Plan

 

 

Total

 

December 31, 2022

 

$

26

 

 

$

(180

)

 

$

17

 

 

$

(137

)

Other comprehensive income
   (loss) before reclassifications

 

 

(52

)

 

 

21

 

 

 

(5

)

 

 

(36

)

Amounts reclassified from
   accumulated other
   comprehensive income
   (loss) into earnings (2)

 

 

12

 

 

 

—

 

 

 

(1

)

 

 

11

 

Net current-period other
   comprehensive income (loss)

 

 

(40

)

 

 

21

 

 

 

(6

)

 

 

(25

)

December 31, 2023

 

$

(14

)

 

$

(159

)

 

$

11

 

 

$

(162

)

 

Includes $12 and $(1) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $4 and $(0.30), respectively.
v3.25.0.1
Earnings Per Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share

21. Earnings Per Share

The computations of basic and diluted net earnings per share are as follows (in millions, except per share data):

 

Year Ended December 31,

 

2024

 

 

2023

 

 

2022

 

Basic net earnings per share:

 

 

 

 

 

 

 

 

 

Basic net earnings

 

$

2,027

 

 

$

4,525

 

 

$

7,607

 

Earnings allocated to participating securities

 

 

(9

)

 

 

(17

)

 

 

(31

)

Net earnings available to common stockholders

 

$

2,018

 

 

$

4,508

 

 

$

7,576

 

Basic average shares outstanding

 

 

238.3

 

 

 

249.8

 

 

 

262.3

 

Basic net earnings per share

 

$

8.47

 

 

$

18.05

 

 

$

28.88

 

Diluted net earnings per share:

 

 

 

 

 

 

 

 

 

Diluted net earnings

 

$

2,027

 

 

$

4,525

 

 

$

7,607

 

Earnings allocated to participating securities

 

 

(9

)

 

 

(17

)

 

 

(30

)

Net earnings available to common stockholders

 

$

2,018

 

 

$

4,508

 

 

$

7,577

 

Diluted average shares outstanding:

 

 

 

 

 

 

 

 

 

Basic average shares outstanding

 

 

238.3

 

 

 

249.8

 

 

 

262.3

 

Dilutive effect of stock options and other

 

 

0.2

 

 

 

0.6

 

 

 

0.9

 

 

 

 

238.5

 

 

 

250.4

 

 

 

263.2

 

Diluted net earnings per share

 

$

8.46

 

 

$

18.00

 

 

$

28.79

 

 

The following stock options were 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,

 

2024

 

 

2023

 

 

2022

 

Anti-dilutive stock options:

 

 

 

 

 

 

 

 

 

Weighted-average shares

 

 

35

 

 

 

-

 

 

 

25

 

Weighted-average exercise price

 

$

168.85

 

 

$

—

 

 

$

130.71

 
v3.25.0.1
Segments
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segments

22. 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 trading businesses; rebar distribution businesses; and Nucor’s equity method investments in NuMit and NJSM (the latter of which Nucor acquired an additional 1% interest in the fourth quarter of 2023, bringing our total equity ownership to a 51% controlling interest). The steel products segment includes steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, precision castings, steel fasteners, metal building systems, insulated metal panels, steel grating, tubular products businesses, steel racking, piling products business, wire and wire mesh, overhead doors, and utility towers and structures. The raw materials segment includes The David J. Joseph Company and its affiliates (“DJJ”), primarily a scrap broker and processor; Nu-Iron Unlimited and Nucor Steel Louisiana LLC, two facilities that produce direct reduced iron used by the steel mills; and our natural gas production operations.

Corporate/eliminations include items such as net interest expense on long-term debt, charges and credits associated with changes in allowances to eliminate intercompany profit in inventory, profit sharing expense and stock-based compensation. Corporate assets primarily include cash and cash equivalents, short-term investments, restricted cash and cash equivalents, allowances to eliminate intercompany profit in inventory, deferred income tax assets, federal and state income taxes receivable and investments in and advances to affiliates.

Segment results are regularly reviewed by the Company's Chief Operating Decision Makers ("CODMs"), the President and Chief Executive Officer and Chief Operating Officer, to manage the business, make decisions about resources to be allocated to the segments and to assess performance. The measure of profit and loss that is used by the CODMs to assess segment performance and to allocate resources is earnings before income taxes and noncontrolling interests by segment (“segment

earnings”). Our CODMs evaluate each segment’s performance based on metrics such as net sales, segment earnings and other key financial indicators, guiding strategic decisions to align with company-wide goals.

Segment cost of products sold is considered a significant segment expense and is regularly provided to the CODM. Segment cost of products sold includes amounts related to both net sales to external customers and intercompany sales.

Nucor’s results by segment were as follows (in millions):

 

 

2024

 

 

 

Steel Mills

 

 

Steel Products

 

 

Raw Materials

 

 

Totals

 

Sales

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

18,734

 

 

$

10,085

 

 

$

1,915

 

 

$

30,734

 

Intercompany sales

 

 

4,309

 

 

 

553

 

 

 

11,365

 

 

 

16,227

 

Total Sales

 

 

23,043

 

 

 

10,638

 

 

 

13,280

 

 

 

46,961

 

Reconciliation of Sales

 

 

 

 

 

 

 

 

 

 

 

 

Elimination of intercompany sales

 

 

 

 

 

 

 

 

 

 

 

(16,227

)

Net sales to external customers

 

 

 

 

 

 

 

 

 

 

 

30,734

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of products sold

 

 

20,766

 

 

 

8,644

 

 

 

11,028

 

 

 

40,438

 

Other segment items

 

 

51

 

 

 

398

 

 

 

2,212

 

 

 

2,661

 

Segment earnings before income taxes and noncontrolling interests

 

 

2,226

 

 

 

1,596

 

 

 

40

 

 

 

3,862

 

Reconciliation of earnings before income taxes and noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

 

Corporate/eliminations

 

 

 

 

 

 

 

 

 

 

 

(960

)

Earnings before income taxes and noncontrolling interests

 

 

 

 

 

 

 

 

 

 

$

2,902

 

 

 

 

2023

 

 

 

Steel Mills

 

 

Steel Products

 

 

Raw Materials

 

 

Totals

 

Sales

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

20,093

 

 

$

12,759

 

 

$

1,862

 

 

$

34,714

 

Intercompany sales

 

 

4,812

 

 

 

456

 

 

 

12,364

 

 

 

17,632

 

Total Sales

 

 

24,905

 

 

 

13,215

 

 

 

14,226

 

 

 

52,346

 

Reconciliation of Sales

 

 

 

 

 

 

 

 

 

 

 

 

Elimination of intercompany sales

 

 

 

 

 

 

 

 

 

 

 

(17,632

)

Net sales to external customers

 

 

 

 

 

 

 

 

 

 

 

34,714

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of products sold

 

 

21,120

 

 

 

9,357

 

 

 

11,787

 

 

 

42,264

 

Other segment items

 

 

73

 

 

 

414

 

 

 

2,185

 

 

 

2,672

 

Segment earnings before income taxes and noncontrolling interests

 

 

3,712

 

 

 

3,444

 

 

 

254

 

 

 

7,410

 

Reconciliation of earnings before income taxes and noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

 

Corporate/eliminations

 

 

 

 

 

 

 

 

 

 

 

(1,137

)

Earnings before income taxes and noncontrolling interests

 

 

 

 

 

 

 

 

 

 

$

6,273

 

 

 

 

 

2022

 

 

 

Steel Mills

 

 

Steel Products

 

 

Raw Materials

 

 

Totals

 

Sales

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

24,190

 

 

$

15,060

 

 

$

2,262

 

 

$

41,512

 

Intercompany sales

 

 

5,859

 

 

 

547

 

 

 

13,715

 

 

 

20,121

 

Total Sales

 

 

30,049

 

 

 

15,607

 

 

 

15,977

 

 

 

61,633

 

Reconciliation of Sales

 

 

 

 

 

 

 

 

 

 

 

 

Elimination of intercompany sales

 

 

 

 

 

 

 

 

 

 

 

(20,121

)

Net sales to external customers

 

 

 

 

 

 

 

 

 

 

 

41,512

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of products sold

 

 

22,760

 

 

 

11,213

 

 

 

13,020

 

 

 

46,993

 

Other segment items

 

 

90

 

 

 

301

 

 

 

2,460

 

 

 

2,851

 

Segment earnings before income taxes and noncontrolling interests

 

 

7,199

 

 

 

4,093

 

 

 

497

 

 

 

11,789

 

Reconciliation of earnings before income taxes and noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

 

Corporate/eliminations

 

 

 

 

 

 

 

 

 

 

 

(1,544

)

Earnings before income taxes and noncontrolling interests

 

 

 

 

 

 

 

 

 

 

$

10,245

 

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Depreciation expense:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

728

 

 

$

611

 

 

$

529

 

Steel products

 

 

150

 

 

 

131

 

 

 

116

 

Raw materials

 

 

197

 

 

 

174

 

 

 

171

 

Corporate

 

 

19

 

 

 

15

 

 

 

11

 

 

$

1,094

 

 

$

931

 

 

$

827

 

Amortization expense:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

8

 

 

$

8

 

 

$

8

 

Steel products

 

 

226

 

 

 

202

 

 

 

199

 

Raw materials

 

 

28

 

 

 

28

 

 

 

28

 

 

$

262

 

 

$

238

 

 

$

235

 

Segment assets:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

16,582

 

 

$

15,407

 

 

$

14,157

 

Steel products

 

 

11,235

 

 

 

10,915

 

 

 

12,087

 

Raw materials

 

 

3,656

 

 

 

3,547

 

 

 

3,383

 

Corporate/eliminations

 

 

2,467

 

 

 

5,471

 

 

 

2,852

 

 

$

33,940

 

 

$

35,340

 

 

$

32,479

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

2,238

 

 

$

1,440

 

 

$

1,453

 

Steel products

 

 

497

 

 

 

367

 

 

 

267

 

Raw materials

 

 

478

 

 

 

353

 

 

 

182

 

Corporate

 

 

75

 

 

 

55

 

 

 

50

 

 

$

3,288

 

 

$

2,215

 

 

$

1,952

 

 

Net sales by product were as follows (in millions). Further product group breakdown is impracticable.

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Net sales to external customers:

 

 

 

 

 

 

 

 

 

Sheet

 

$

9,248

 

 

$

9,147

 

 

$

11,438

 

Bar

 

 

5,190

 

 

 

5,994

 

 

 

7,032

 

Structural

 

 

2,276

 

 

 

2,429

 

 

 

2,928

 

Plate

 

 

2,020

 

 

 

2,523

 

 

 

2,792

 

Tubular Products

 

 

1,292

 

 

 

1,588

 

 

 

1,945

 

Rebar Fabrication

 

 

1,777

 

 

 

2,182

 

 

 

2,206

 

Joist

 

 

1,230

 

 

 

2,212

 

 

 

2,958

 

Deck

 

 

998

 

 

 

1,712

 

 

 

2,392

 

Building Systems

 

 

1,347

 

 

 

1,376

 

 

 

1,793

 

Other Steel Products

 

 

3,441

 

 

 

3,689

 

 

 

3,766

 

Raw Materials

 

 

1,915

 

 

 

1,862

 

 

 

2,262

 

 

 

$

30,734

 

 

$

34,714

 

 

$

41,512

 
v3.25.0.1
Revenue
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue

23. Revenue

Nucor recognizes revenue when obligations under the terms of contracts with our customers are satisfied and collection is reasonably assured; generally, obligations under the terms of contracts are satisfied upon shipment or when control is transferred. Revenue is measured as the amount of consideration expected to be received in exchange for transferring the goods. In addition, revenue is deferred when cash payments are received or due in advance of performance.

The durations of Nucor’s contracts with customers are generally one year or less. Customer payment terms are generally 30 days.

Contract liabilities are primarily related to deferred revenue resulting from cash payments received in advance from customers to protect against credit risk. Contract liabilities totaled $200 million as of December 31, 2024 ($314 million as of December 31, 2023), and are included in accrued expenses and other current liabilities in the consolidated balance sheets. The amount of revenue recognized from the December 31, 2023 contract liabilities balance during 2024 was approximately $177 million.

Nucor disaggregates its revenues by major source in the same manner as presented in the net sales by product table in the segment footnote (see Note 22).

 

Steel Mills Segment

Sheet – For the majority of sheet products, we transfer control and recognize a sale when we ship the product from the sheet mill to our customer. The amount of consideration we receive and revenue we recognize for spot market sales are based upon prevailing prices at the time of sale. The amount of consideration we receive and revenue we recognize for contract customers are based primarily on pricing formulas that incorporate monthly or quarterly price adjustments which reflect changes in the current market-based indices and/or raw material costs near the time of shipment.

The amount of tons sold to contract customers at any given time depends on a variety of factors, including our consideration of current and future market conditions, our strategy to appropriately balance spot and contract tons in a manner to meet our customers’ requirements while considering the expected profitability, our desire to sustain a diversified customer base and our end-use customers’ perceptions about future market conditions. These contracts are typically one year or less. Contract sales within the steel mills segment are most notable in our sheet operations, as it is common for contract sales to account for the majority of sheet sales in a given year.

Bar, Structural and Plate – For the majority of bar, structural and plate products, we transfer control and recognize a sale when we ship the product from the mill to our customer. The significant majority of bar, structural and plate product sales are spot market sales, and the amount of consideration we receive and revenue we recognize for those sales are based upon prevailing prices at the time of sale.

Steel Products Segment

Tubular Products – The tubular products businesses transfer control and recognize a sale when the products are shipped from our operating locations to our customers. The majority of tubular product sales are spot market sales, and the amount of consideration we receive and revenue we recognize for those sales are based upon prevailing prices at the time of sale.

Rebar Fabrication – The majority of revenue is derived from contracts with customers for the supply of fabricated rebar. As the majority of contracts with customers are fixed price contracts to complete a job, control transfers over time and revenue is recognized (if collection is reasonably assured) over time using an input method, based on the amount of rebar shipped from the Company’s operating locations relative to the total expected amount of rebar required to complete the job.

For contracts to supply fabricated rebar and install it at the customer’s job site, there are two performance obligations: (1) the supply of the fabricated rebar and (2) the installation of the supplied rebar at the customer’s job site. For the supply of fabricated rebar performance obligation, the transaction price allocated to this performance obligation is determined at the start of the contract, based on the awarded contract price for the supplied fabricated rebar and revenue is recognized over time based on the amount of rebar shipped from the Company’s operating locations relative to the total expected amount of rebar required to complete the job. For the installation of supplied rebar performance obligation, the transaction price allocated to this performance obligation is determined at the start of the contract, based on the awarded contract price for the installation of fabricated rebar and revenue is recognized over time based on the amount of rebar installed relative to the total expected amount of rebar required to be installed to complete the job.

While a majority of the contracts with customers are fixed price contracts to complete a job, variable consideration can occur from contract modifications relating to change orders and price escalations caused by changes in underlying material costs. In these situations, the additional variable consideration is recognized cumulatively in the period in which the contract modification is approved and collection is reasonably assured unless the change order relates to additional distinct goods or services at standalone selling prices in which case they are accounted for prospectively. Management reviews these situations on a case-by-case basis and considers a variety of factors, including relevant experience with similar types of performance obligations, the Company’s experience with the customer and collectability considerations.

Other Steel Products – Other steel products include our joist, deck, cold finish, metal building systems, insulated metal panels, piling, overhead doors, towers and structures, and the other remaining businesses that comprise the steel products segment. Generally, for these businesses, we transfer control and recognize a sale when we ship the product from our operating locations to our customers. The amount of consideration we receive and revenue we recognize for those sales are agreed upon with the customers before the product is shipped.

Included in the other steel products businesses is Nucor Racking Group (“NRG”). The majority of NRG’s revenues are related to supply and installation contracts. Revenue on NRG’s supply and installation contracts is primarily recognized over time, typically between three and six months, using the cost-to-cost input measure (e.g., costs incurred to date relative to total estimated costs at completion) to measure progress because it best depicts the transfer of assets to the customer which occurs as the Company incurs costs on the contracts.

Raw Materials Segment

The majority of the raw materials segment revenue from outside customers is generated by DJJ. We transfer control and recognize a sale based on the terms of the agreement with the customer, which is generally when the product has met the delivery requirements. The amount of consideration we receive and revenue we recognize for those sales is based on the contract with the customer, which generally reflects current market prices at the time the contract is entered into.
v3.25.0.1
Acquisitions
 12 Months Ended
Dec. 31, 2024
Business Combinations [Abstract]  
Acquisitions

24. Acquisitions

Acquisition of Rytec Corporation

On July 23, 2024, Nucor used cash on hand to acquire the assets of Rytec Corporation ("Rytec") for a purchase price, net of cash and debt acquired, of approximately $565 million. Rytec is a manufacturer and seller of high-performance overhead doors. Rytec produces spiral metal doors for warehouses, manufacturing facilities, auto dealerships, and parking garages, as well as durable fabric doors that are used in cold storage, manufacturing and clean room applications. We believe this acquisition will help Nucor and C.H.I. Overhead Doors, LLC continue to grow their sales to the commercial market. The Rytec financial results are included as part of the steel products segment (see Note 22) beginning on July 23, 2024, the date Nucor acquired Rytec.

We allocated the purchase price for Rytec to its individual assets acquired and liabilities assumed. While the purchase price allocation is substantially complete, it is still preliminary and subject to change.

The following table summarizes the fair values of the assets acquired and liabilities assumed of Rytec as of July 23, 2024, the date of acquisition (in millions):

Cash

 

$

1

 

Accounts receivable

 

 

35

 

Inventory

 

 

33

 

Other current assets

 

 

1

 

Property, plant and equipment

 

 

32

 

Goodwill

 

 

275

 

Other intangible assets

 

 

215

 

Other assets

 

 

—

 

Total assets acquired

 

 

592

 

Accounts payable

 

 

16

 

Salary, wages and related accruals

 

 

5

 

Other current liabilities

 

 

6

 

Total liabilities assumed

 

 

27

 

Net assets acquired

 

$

565

 

 

The following table summarizes the purchase price allocation to the identifiable intangible assets of Rytec as of July 23, 2024, the date of acquisition (in millions, except years):

 

 

 

 

 

Weighted-

 

 

 

 

 

Average Life

Customer relationships

 

$

185

 

 

15 years

Trademarks and trade names

 

 

16

 

 

10 years

Other intangibles

 

 

14

 

 

< 1 year

 

$

215

 

 

 

 

The goodwill of $275 million is calculated as the excess of the purchase price over the fair values of the assets acquired and liabilities assumed and has been allocated to the steel products segment (see Note 8). The goodwill is attributable to expected synergies within the steel products segment. Goodwill recognized for tax purposes was $275 million, all of which is deductible for tax purposes. Pro-forma results of operations for the Company would not be materially different as a result of the acquisition of Rytec and, therefore, this information is not presented.

 

Acquisition of Additional Interest in NJSM

On October 27, 2023, Nucor used cash on hand to acquire an additional 1% equity interest in NJSM bringing our total equity ownership to a 51% controlling interest. We believe this acquisition allows NJSM to benefit from Nucor's galvanized sheet sales expertise in North America.

Prior to this transaction, we accounted for our 50% ownership in NJSM under the equity method. As part of the purchase price allocation for this step acquisition, we remeasured our previously held interest as of the acquisition date which resulted in a $21 million loss recorded in marketing, administrative and other expenses. Neither our previously held equity interest in NJSM nor the loss on remeasuring the equity interest are material to our financial statements.

We allocated the purchase price for NJSM to its individual assets acquired and liabilities assumed.

The following table summarizes the fair values of the assets acquired and liabilities assumed of NJSM, as well as the fair value of the 49% noncontrolling interest not acquired by Nucor, as of October 27, 2023, the date of acquisition (in millions):

 

Cash

 

$

11

 

Accounts receivable

 

 

11

 

Inventory

 

 

45

 

Other current assets

 

 

18

 

Property, plant and equipment

 

 

258

 

Goodwill

 

 

—

 

Other intangible assets

 

 

—

 

Other assets

 

 

—

 

Total assets acquired

 

 

343

 

Short-term debt

 

 

95

 

Current portion of long-term debt

 

 

50

 

Other current liabilities

 

 

14

 

Long-term debt due after one year

 

 

30

 

Other liabilities

 

 

1

 

Total liabilities assumed

 

 

190

 

Net assets acquired at 100%

 

 

153

 

Less: fair value of Noncontrolling interest

 

 

75

 

Net assets acquired at 51%

 

$

78

 

 

The determination of the fair value of noncontrolling interest was calculated using the implied value of 100% of the enterprise value as the purchase price included an immaterial implied control premium on a per-share basis and the noncontrolling interest shareholder will benefit from the transaction and participate in the economic benefits of NJSM after the acquisition.

The NJSM financial results were included as part of the steel mills segment (see Note 22) beginning on October 27, 2023, the acquisition date. Pro-forma results of operations for the Company would not be materially different as a result of the acquisition of NJSM and, therefore, this information is not presented.

Acquisition of C.H.I.

On June 24, 2022, Nucor used cash on hand to acquire the assets of C.H.I. for a purchase price, net of cash acquired, of approximately $3.00 billion. C.H.I. is a leading manufacturer of overhead doors for residential and commercial markets in the United States and Canada. Commercial overhead doors are used in warehousing and retail, areas that Nucor has focused its attention on recently through other value-added products such as insulated metal panels (CENTRIA, Metl-Span and TrueCore brands) and steel racking solutions (Nucor Racking Group). It is expected that the C.H.I. acquisition also will benefit from Nucor’s recent paint line investments at its Hickman, Arkansas and Crawfordsville, Indiana sheet mills. The C.H.I. financial results are included as part of the steel products segment (see Note 22) beginning on June 24, 2022, the date Nucor acquired it.

We allocated the purchase price for C.H.I. to its individual assets acquired and liabilities assumed. The purchase price allocation is complete.

The following table summarizes the fair values of the assets acquired and liabilities assumed of C.H.I. as of June 24, 2022, the date of acquisition (in millions):

 

Cash

 

$

159

 

Accounts receivable

 

 

78

 

Inventory

 

 

53

 

Other current assets

 

 

18

 

Property, plant and equipment

 

 

117

 

Goodwill

 

 

1,033

 

Other intangible assets

 

 

2,389

 

Other assets

 

 

10

 

Total assets acquired

 

 

3,857

 

Current liabilities

 

 

75

 

Deferred income taxes

 

 

578

 

Other liabilities

 

 

8

 

Total liabilities assumed

 

 

661

 

Net assets acquired

 

$

3,196

 

 

The following table summarizes the purchase price allocation to the identifiable intangible assets of C.H.I. as of June 24, 2022, the date of acquisition (in millions, except years):

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Average Life

Customer relationships

 

$

2,242

 

 

25 years

Trademarks and trade names

 

 

147

 

 

13 years

Backlog

 

 

—

 

 

1 year

 

 

$

2,389

 

 

 

 

The goodwill of $1.04 billion is calculated as the excess of the purchase price over the fair values of the assets acquired and liabilities assumed and has been allocated to the steel products segment. The goodwill is attributable to expected synergies within the steel products segment. Goodwill recognized for tax purposes was $6 million, all of which is deductible for tax purposes. Pro-forma results of operations for the Company would not be materially different as a result of the acquisition of C.H.I. and, therefore, this information is not presented.

Acquisition of CSI

On February 1, 2022, Nucor used cash on hand to acquire a 51% controlling ownership position in CSI by purchasing a 50% equity interest from a subsidiary of Vale S.A. for a cash purchase price of approximately $400 million, adjusted for net debt and working capital at closing, as well as a 1% equity interest from JFE Steel Corporation. CSI is a flat-rolled steel converter located in California with the capability to produce more than two million tons of finished steel and steel products annually. The company has five product lines, including hot rolled, pickled and oiled, cold rolled, galvanized and electric resistance welded (“ERW”) pipe. Key end-use markets served by CSI include customers in the construction, service center and energy industries. We believe this acquisition helps give Nucor a strong presence in the Western region of the United States and grows our ability to produce a wide range of value-added sheet products. The CSI financial results were included as part of the steel mills segment (see Note 22) beginning on February 1, 2022, the date Nucor acquired its 51% controlling ownership position.

We allocated the purchase price for CSI to its individual assets acquired and liabilities assumed. The purchase price allocation is complete.

The following table summarizes the fair values of 100% of the assets and liabilities of CSI, as well as the fair value of the 49% noncontrolling interest not acquired by Nucor, as of February 1, 2022, the date Nucor acquired its 51% controlling ownership position (in millions):

 

Cash

 

$

99

 

Accounts receivable

 

 

159

 

Inventory

 

 

355

 

Other current assets

 

 

5

 

Property, plant and equipment

 

 

567

 

Goodwill

 

 

62

 

Other intangible assets

 

 

—

 

Other assets

 

 

7

 

Total assets acquired

 

 

1,254

 

Current portion of long-term debt

 

 

10

 

Other current liabilities

 

 

163

 

Long-term debt due after one year

 

 

68

 

Other liabilities

 

 

140

 

Total liabilities assumed

 

 

381

 

Net assets acquired at 100%

 

 

873

 

Less: Fair value of noncontrolling interest

 

 

428

 

Net assets acquired at 51%

 

$

445

 

 

The determination of the fair value of the noncontrolling interest was calculated using the implied value of 100% of the enterprise value of the business using the purchase price as the purchase price did not include a control premium on a per-share basis and the noncontrolling interest shareholder will participate equally in the economic benefits of CSI after the acquisition.

The goodwill of $62 million is calculated as the excess of the purchase price over the fair values of the assets acquired and liabilities assumed and has been allocated to the steel mills segment. The goodwill is attributable to the assembled workforce acquired, expanding our Western United States presence and CSI’s value-added product capabilities. None of the goodwill is deductible for tax purposes. Pro-forma results of operations for the Company would not be materially different as a result of the acquisition of CSI and, therefore, this information is not presented.

Other Acquisitions

Other smaller acquisitions, exclusive of purchase price adjustments made and net of cash acquired, totaled approximately $193 million, $71 million and $170 million in 2024, 2023 and 2022, respectively. Pro-forma results of operations for the Company would not be materially different if the aggregate acquisitions made during 2024, 2023 and 2022 were included and, therefore, this information is not presented.
v3.25.0.1
Quarterly Information (Unaudited)
 12 Months Ended
Dec. 31, 2024
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information (Unaudited)

25. Quarterly Information (Unaudited)

 

 

 

(in millions, except per share data)

 

 

 

Year Ended December 31, 2024

 

 

 

First Quarter

 

 

Second Quarter

 

 

Third Quarter

 

 

Fourth Quarter

 

Net sales

 

$

8,137

 

 

$

8,077

 

 

$

7,444

 

 

$

7,076

 

Gross margin

 

 

1,523

 

 

 

1,194

 

 

 

758

 

 

 

627

 

Net earnings before noncontrolling interests (1)

 

 

959

 

 

 

712

 

 

 

303

 

 

 

345

 

Net earnings attributable to Nucor
   stockholders

 

 

845

 

 

 

645

 

 

 

250

 

 

 

287

 

Net earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

3.46

 

 

$

2.68

 

 

$

1.05

 

 

$

1.22

 

Diluted

 

$

3.46

 

 

$

2.68

 

 

$

1.05

 

 

$

1.22

 

(1) Third quarter of 2024 results include losses and impairments of asset charges of $83 million and $40 million, related to the impairment of certain non-current assets in the raw materials and steel products segments, respectively.

 

 

 

 

(in millions, except per share data)

 

 

 

Year Ended December 31, 2023

 

 

 

First Quarter

 

 

Second Quarter

 

 

Third Quarter

 

 

Fourth Quarter

 

Net sales

 

$

8,710

 

 

$

9,523

 

 

$

8,776

 

 

$

7,704

 

Gross margin

 

 

1,998

 

 

 

2,502

 

 

 

1,921

 

 

 

1,394

 

Net earnings before noncontrolling interests

 

 

1,232

 

 

 

1,587

 

 

 

1,221

 

 

 

873

 

Net earnings attributable to Nucor
   stockholders

 

 

1,137

 

 

 

1,461

 

 

 

1,142

 

 

 

785

 

Net earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

4.47

 

 

$

5.82

 

 

$

4.58

 

 

$

3.17

 

Diluted

 

$

4.45

 

 

$

5.81

 

 

$

4.57

 

 

$

3.16

 
v3.25.0.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Cash and Cash Equivalents

Cash and Cash Equivalents

Cash equivalents are recorded at cost plus accrued interest, which approximates fair value, and have original maturities of three months or less at the date of purchase. Cash and cash equivalents are maintained primarily with a few high-credit quality financial institutions.
Short-term Investments

Short-term Investments

Short-term investments are recorded at fair value. Unrealized gains and losses on investments classified as available-for-sale are recorded as a component of accumulated other comprehensive income (loss) if material. Management determines the appropriate classification of its investments at the time of purchase and re-evaluates such determination at each balance sheet date.
Inventories

Inventories

Inventories are stated at the lower of cost or net realizable value. The Company records any amount required to reduce the carrying value of inventory to net realizable value as a charge to cost of products sold. Scrap and scrap substitute costs are a very significant component of the raw material, semi-finished and finished product inventory balances. The vast majority of the Company’s inventory is recorded on the first-in, first-out method. Production costs are applied to semi-finished and finished product inventory from the approximate period in which they are produced.
Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment is stated at cost, except for property, plant and equipment acquired through acquisitions which is recorded at acquisition date fair value. With the exception of our natural gas wells, depreciation primarily is provided on a straight-line basis over the estimated useful lives of the assets. Depletion of all capitalized costs associated with our natural gas producing properties is expensed on a unit-of-production basis by individual field as the gas from the proved developed reserves is produced. The costs of acquiring unproved natural gas leasehold acreage are capitalized. When proved reserves are found on unproved properties, the associated leasehold cost is transferred to proved properties. Unproved leases are reviewed periodically for any impairment triggering event, and a valuation allowance is provided for any estimated decline in value. The costs of planned major maintenance activities are capitalized as part of other current assets and amortized over the period until the next scheduled major maintenance activity. All other repairs and maintenance activities are expensed when incurred.
Goodwill and Other Intangibles

Goodwill and Other Intangibles

Goodwill is the excess of cost over the fair value of net assets of businesses acquired. Goodwill is not amortized but is tested annually for impairment and whenever events or circumstances change that would make it more likely than not that an impairment may have occurred. We perform our annual impairment analysis as of the first day of the fourth quarter each year. The evaluation of impairment involves comparing the current estimated fair value of each reporting unit, which is a level below the operating segment, to the recorded value, including goodwill. When appropriate, Nucor performs a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on the results of the qualitative assessment, it may be necessary to perform a quantitative analysis. In these instances, a discounted cash flow model is used to determine the current estimated fair value of these reporting units. A number of significant assumptions and estimates are involved in the application of the discounted cash flow model to forecast operating cash flows, which could include market growth and market share, sales volumes and prices, raw materials and other 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 units are estimated. Assumptions in estimating future cash flows are subject to a high degree of judgment and complexity. Changes in assumptions and estimates may affect the fair value of goodwill and could result in impairment charges in future periods.

Finite-lived intangible assets are amortized over their estimated useful lives on a straight-line or accelerated basis.
Long-Lived Asset Impairments

Long-Lived Asset Impairments

We evaluate our property, plant and equipment and finite-lived intangible assets for potential impairment on an individual asset basis or at the lowest level asset grouping for which independent cash flows can be separately identified. Asset impairments are assessed whenever circumstances indicate that the carrying amounts of those productive assets could exceed their projected undiscounted cash flows. When it is determined that impairment exists, the related assets are written down to their estimated fair market value.
Equity Method Investments

Equity Method Investments

Investments in joint ventures in which Nucor shares control over the financial and operating decisions but in which Nucor is not the primary beneficiary are accounted for under the equity method. Each of the Company’s equity method investments is subject to a review for impairment if, and when, circumstances indicate that a decline in fair value below its carrying amount may have occurred. Examples of such circumstances include, but are not limited to, a significant deterioration in the earnings performance or business prospects of the investee; missed financial projections; a significant adverse change in the regulatory, tax, economic or technological environment of the investee; a significant adverse change in the general market condition of either the geographic area or the industry in which the investee operates; and recurring negative cash flows from operations. If management considers the decline to be other than temporary, the Company would write down the related investment to its estimated fair market value.
Revenue Recognition

Revenue Recognition

Nucor recognizes revenue when obligations under the terms of contracts with our customers are satisfied and collection is reasonably assured; generally, obligations under the terms of contracts are satisfied upon shipment or when control is transferred. Revenue is measured as the amount of consideration expected to be received in exchange for transferring the goods. In addition, revenue is deferred when cash payments are received or due in advance of performance. See Note 23 for further information.
Income Taxes

Income Taxes

Nucor utilizes the liability method of accounting for income taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized.

Nucor recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Potential accrued interest and penalties related to unrecognized tax benefits are recognized as a component of interest expense and other expenses.
Stock-Based Compensation

Stock-Based Compensation

The Company recognizes the cost of stock-based compensation as an expense using fair value measurement methods. The assumptions used to calculate the fair value of stock-based compensation granted are evaluated and revised for new grants, as necessary, to reflect market conditions and experience.
Foreign Currency Translation

Foreign Currency Translation

For Nucor’s operations where the functional currency is other than the U.S. dollar, assets and liabilities have been translated at year-end exchange rates, and income and expenses have been translated using average exchange rates for the respective periods. Adjustments resulting from the process of translating an entity’s financial statements into the U.S. dollar have been recorded in accumulated other comprehensive income (loss) and are included in net earnings only upon sale or liquidation of the underlying investments. Foreign currency transaction gains and losses are included in net earnings in the period they occur.
Recently Issued / Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

In December 2023, new accounting guidance was issued related to income tax disclosures. The new guidance requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The new guidance is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted

for annual financial statements that have not yet been issued or made available for issuance. This new guidance will likely result in additional required disclosures when adopted. The Company is evaluating the impact that the adoption of this new guidance will have on its consolidated financial statements.

In November 2024, new accounting guidance was issued that requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization, within relevant income statement captions. The new accounting guidance also requires disclosure of the total amount of selling expenses along with the definition of selling expenses. The new accounting guidance is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Adoption of this new accounting guidance can either be applied prospectively to consolidated financial statements issued for reporting periods after the effective date or retrospectively to any or all prior periods presented in the consolidated financial statements. Early adoption is also permitted. The Company is evaluating the impact that the adoption of this new guidance will have on its consolidated financial statements.

Recently Adopted Accounting Pronouncements

In November 2023, new accounting guidance was issued that updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss. This new guidance also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The new guidance is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We adopted this guidance retrospectively on December 31, 2024. As a result, we have enhanced our segment disclosures to include the presentation of cost of sales by segment and the disclosure of our CODMs. The adoption of this accounting guidance affects only our disclosures, with no impacts to our financial condition and results of operations.
v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Disclosure Of Leases [Abstract]  
Supplemental statement of earnings information leases operating finance

Supplemental statement of earnings information related to our leases is as follows (in millions):

 

 

 

 

 

Year Ended December 31,

 

 

 

Statement of Earnings Classification

 

2024

 

 

2023

 

 

2022

 

Operating lease cost

 

Cost of products sold

 

$

18

 

 

$

27

 

 

$

24

 

Operating lease cost

 

Marketing, administrative and
other expenses

 

 

11

 

 

 

3

 

 

 

3

 

Total operating
   lease cost

 

 

 

$

29

 

 

$

30

 

 

$

27

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

 

 

Amortization of leased
   assets

 

Cost of products sold

 

$

30

 

 

$

19

 

 

$

19

 

Interest on lease
   liabilities

 

Interest expense, net

 

 

3

 

 

 

12

 

 

 

12

 

Total finance lease
   cost

 

 

 

$

33

 

 

$

31

 

 

$

31

 

Total lease cost

 

 

 

$

62

 

 

$

61

 

 

$

58

 
Supplemental cash flow information leases operating finance

Supplemental cash flow information related to our leases is as follows (in millions):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Cash paid for amounts included in measurement of lease
   liabilities:

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

30

 

 

$

30

 

 

$

27

 

Operating cash flows from finance leases

 

$

11

 

 

$

12

 

 

$

12

 

Financing cash flows from finance leases

 

$

14

 

 

$

17

 

 

$

16

 

Non-cash investing and financing activities:

 

 

 

 

 

 

 

 

 

Additions to right-of-use assets obtained from

 

 

 

 

 

 

 

 

 

Operating lease liabilities

 

$

36

 

 

$

27

 

 

$

34

 

Finance lease liabilities

 

$

15

 

 

$

16

 

 

$

27

 
Lessee balance sheet information

Supplemental balance sheet information related to our leases is as follows (in millions):

 

 

 

 

 

December 31,

 

 

 

Balance Sheet Classification

 

2024

 

 

2023

 

Assets:

 

 

 

 

 

 

 

 

Operating lease

 

Other assets

 

$

107

 

 

$

103

 

Finance lease

 

Property, plant and equipment, net

 

 

163

 

 

 

167

 

Total leased

 

 

 

$

270

 

 

$

270

 

Liabilities:

 

 

 

 

 

 

 

 

Current operating

 

Accrued expenses and other current liabilities

 

$

24

 

 

$

25

 

Current finance

 

Current portion of long-term debt and
finance lease obligations

 

 

17

 

 

 

14

 

Non-current operating

 

Deferred credits and other liabilities

 

 

93

 

 

 

82

 

Non-current finance

 

Long-term debt and finance lease
obligations due after one year

 

 

174

 

 

 

175

 

Total leased

 

 

 

$

308

 

 

$

296

 

 
Weighted average lease term discount rate finance operating

Weighted-average remaining lease term and discount rate for our leases are as follows:

 

 

 

December 31, 2024

 

Weighted-average remaining lease term - operating leases

 

7.8 years

 

Weighted-average remaining lease term - finance leases

 

13.1 years

 

Weighted-average discount rate - operating leases

 

 

4.5

%

Weighted-average discount rate - finance leases

 

 

10.4

%
Lessee operating finance lease liability maturity

Maturities of lease liabilities by year for our leases were as follows as of December 31, 2024 (in millions):

 

 

 

Operating Leases

 

 

Finance Leases

 

Maturities of lease liabilities, year ending December 31,

 

 

 

 

 

 

2025

 

$

29

 

 

$

25

 

2026

 

 

25

 

 

 

24

 

2027

 

 

19

 

 

 

23

 

2028

 

 

16

 

 

 

22

 

2029

 

 

12

 

 

 

21

 

Thereafter

 

 

41

 

 

 

145

 

Total lease payments

 

$

142

 

 

$

260

 

Less imputed interest

 

 

(25

)

 

 

(69

)

Present value of lease liabilities

 

$

117

 

 

$

191

 
v3.25.0.1
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Property Plant And Equipment [Abstract]  
Schedule of Property, Plant and Equipment

Property, plant and equipment is carried at historical cost, net of accumulated depreciation. Net property, plant and equipment by major asset class consisted of the following (in millions):

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

Land and improvements, net

 

$

1,257

 

 

$

1,183

 

Buildings and improvements

 

 

2,764

 

 

 

2,551

 

Machinery and equipment

 

 

17,431

 

 

 

16,328

 

Proved oil and gas properties

 

 

559

 

 

 

559

 

Leasehold interest in unproved oil and gas properties

 

 

96

 

 

 

96

 

Construction in process and equipment deposits

 

 

3,758

 

 

 

2,122

 

 

 

25,865

 

 

 

22,839

 

Less accumulated depreciation

 

 

(12,622

)

 

 

(11,789

)

 

$

13,243

 

 

$

11,050

 
v3.25.0.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Change in Net Carrying Amount of Goodwill by Segment

The change in the net carrying amount of goodwill for the years ended December 31, 2024 and 2023 by segment is as follows:

 

 

 

(in millions)

 

 

 

Steel

 

 

Steel

 

 

Raw

 

 

 

 

 

 

Mills

 

 

Products

 

 

Materials

 

 

Total

 

Balance, December 31, 2022

 

$

675

 

 

$

2,510

 

 

$

735

 

 

$

3,920

 

Acquisitions

 

 

—

 

 

 

(2

)

 

 

45

 

 

 

43

 

Translation

 

 

—

 

 

 

6

 

 

 

—

 

 

 

6

 

Balance, December 31, 2023

 

 

675

 

 

 

2,514

 

 

 

780

 

 

 

3,969

 

Acquisitions

 

 

—

 

 

 

318

 

 

 

17

 

 

 

335

 

Translation

 

 

—

 

 

 

(16

)

 

 

—

 

 

 

(16

)

Balance, December 31, 2024

 

$

675

 

 

$

2,816

 

 

$

797

 

 

$

4,288

 
Schedule of Intangible Assets

Intangible assets with estimated useful lives of five to 25 years are amortized on a straight-line or accelerated basis and are comprised of the following:

 

 

 

(in millions)

 

 

 

December 31, 2024

 

 

December 31, 2023

 

 

 

Gross

 

 

Accumulated

 

 

Gross

 

 

Accumulated

 

 

 

Amount

 

 

Amortization

 

 

Amount

 

 

Amortization

 

Customer relationships

 

$

4,444

 

 

$

1,512

 

 

$

4,190

 

 

$

1,296

 

Trademarks and trade names

 

 

387

 

 

 

192

 

 

 

372

 

 

 

168

 

Other

 

 

129

 

 

 

122

 

 

 

110

 

 

 

100

 

 

 

$

4,960

 

 

$

1,826

 

 

$

4,672

 

 

$

1,564

 
v3.25.0.1
Debt and Other Financing Arrangements (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt and Other Financing Arrangements

 

 

December 31,

 

(in millions)

 

2024

 

 

2023

 

Industrial revenue bonds due from 2025 to 2061 (1)

 

$

1,350

 

 

$

1,350

 

NJSM notes due from 2025 to 2029 (2)

 

 

80

 

 

 

80

 

Notes, 2.000%, due 2025

 

 

500

 

 

 

500

 

Notes, 3.950%, due 2025

 

 

500

 

 

 

500

 

Notes, 4.300%, due 2027

 

 

500

 

 

 

500

 

Term notes, 2.950%, due 2027 (3)

 

 

48

 

 

 

58

 

Notes, 3.950%, due 2028

 

 

500

 

 

 

500

 

Notes, 2.700%, due 2030

 

 

500

 

 

 

500

 

Notes, 3.125%, due 2032

 

 

550

 

 

 

550

 

Notes, 6.400%, due 2037

 

 

543

 

 

 

543

 

Notes, 5.200%, due 2043

 

 

338

 

 

 

338

 

Notes, 4.400%, due 2048

 

 

329

 

 

 

329

 

Notes, 3.850%, due 2052

 

 

550

 

 

 

550

 

Notes, 2.979%, due 2055

 

 

439

 

 

 

439

 

Finance lease obligations

 

 

191

 

 

 

189

 

Total long-term debt and finance lease obligations

 

 

6,918

 

 

 

6,926

 

Less premium on debt exchange

 

 

165

 

 

 

171

 

Less debt issuance costs

 

 

28

 

 

 

32

 

Total amounts outstanding

 

 

6,725

 

 

 

6,723

 

Less current maturities of long-term debt (2) (3)

 

 

1,025

 

 

 

60

 

Less current portion of finance lease obligations

 

 

17

 

 

 

14

 

Total long-term debt and finance lease obligations due after
   one year

 

$

5,683

 

 

$

6,649

 

 

(1)
The industrial revenue bonds had variable rates ranging from 3.92% to 4.70% at December 31, 2024 and 4.20% to 5.10% at December 31, 2023.
(2)
The NJSM notes relate to borrowings of NJSM under its General Financing Agreement and Promissory Note (the “NJSM Facility”). The maximum amount NJSM could borrow under the NJSM Facility was $80 million at December 31, 2024. The NJSM Facility is uncommitted. Borrowings under the NJSM Facility had variable rates ranging from 5.46% to 6.88% at December 31, 2024.
(3)
The term notes were assumed in conjunction with the acquisition of 51% ownership of CSI on February 1, 2022. The original principal amount of the notes was $101 million, with a fixed rate of 2.95% until September 30, 2026 when they will convert to a floating rate. Payments of $3 million are due quarterly along with accrued interest. The term notes mature on March 31, 2027. (See Note 24.)
v3.25.0.1
Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Values of Derivative Financial Instruments

The following tables summarize information regarding Nucor’s derivative financial instruments (in millions):

 

 

 

 

 

Fair Value at

 

 

 

 

 

December 31,

 

Fair Value of Derivative Financial
   Instruments

 

Consolidated Balance Sheet Location

 

2024

 

 

2023

 

Asset derivatives designated
   as hedging instruments:

 

 

 

 

 

 

 

 

Commodity contracts

 

Other current assets

 

$

4

 

 

$

—

 

Commodity contracts

 

Other assets

 

 

2

 

 

 

—

 

 

 

 

 

 

 

 

 

 

Total asset derivatives
   designated as hedging
   instruments

 

 

 

 

6

 

 

 

—

 

 

 

 

 

 

 

 

 

 

Asset derivatives not
   designated as hedging
   instruments:

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

Other current assets

 

 

1

 

 

 

—

 

 

 

 

 

 

 

 

 

 

Total asset derivatives

 

 

 

$

7

 

 

$

—

 

 

 

 

 

 

 

 

 

 

Liability derivatives designated
   as hedging instruments:

 

 

 

 

 

 

 

 

Commodity contracts

 

Accrued expenses and other current liabilities

 

$

(4

)

 

$

(15

)

Commodity contracts

 

Deferred credits and other liabilities

 

 

—

 

 

 

(4

)

 

 

 

 

 

 

 

 

 

Total liability derivatives
   designated as hedging
   instruments

 

 

 

 

(4

)

 

 

(19

)

Liability derivatives not designated
   as hedging instruments:

 

 

 

 

 

 

 

 

Commodity contracts

 

Accrued expenses and other current liabilities

 

 

—

 

 

 

(4

)

 

 

 

 

 

 

 

 

 

Total liability derivatives

 

 

 

$

(4

)

 

$

(23

)

 
Derivatives Designated as Hedging Instrument [Member]  
Effect of Derivatives Financial Instruments on Consolidated Statements of Earnings

The Effect of Derivative Financial Instruments on the Consolidated Statements of Earnings

 

Derivatives Designated as Hedging Instruments for the Year Ended December 31, (in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of Gain or

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss), Net of Tax,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of Gain or (Loss),

 

 

Reclassified from

 

 

Amount of Gain or (Loss),

 

 

 

Statement of

 

Net of Tax, Recognized

 

 

Accumulated OCI into

 

 

Net of Tax, Recognized

 

Derivatives in Cash Flow

 

Earnings

 

in OCI on Derivatives

 

 

Earnings on Derivatives

 

 

in Earnings on Derivatives

 

Hedging Relationships

 

Location

 

(Effective Portion)

 

 

(Effective Portion)

 

 

(Ineffective Portion)

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2024

 

 

2023

 

 

2022

 

 

2024

 

 

2023

 

 

2022

 

Commodity contracts

 

Cost of products sold

 

$

(6

)

 

$

(52

)

 

$

77

 

 

$

(21

)

 

$

(12

)

 

$

52

 

 

$

—

 

 

$

—

 

 

$

—

 
v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value

The following table summarizes information regarding Nucor’s financial assets and liabilities that are measured at fair value. Nucor does not have any non-financial assets or liabilities that are measured at fair value on a recurring basis.

 

 

 

 

 

 

(in millions)

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

 

 

 

Quoted Prices

 

 

 

 

 

 

 

 

 

 

 

 

in Active

 

 

Significant

 

 

 

 

 

 

Carrying

 

 

Markets for

 

 

Other

 

 

Significant

 

 

 

Amount in

 

 

Identical

 

 

Observable

 

 

Unobservable

 

 

 

Consolidated

 

 

Assets

 

 

Inputs

 

 

Inputs

 

Description

 

Balance Sheets

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

As of December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

2,821

 

 

$

2,821

 

 

$

—

 

 

$

—

 

Short-term investments

 

 

581

 

 

 

581

 

 

 

 

 

 

 

Derivative contracts

 

 

7

 

 

 

—

 

 

 

7

 

 

 

—

 

Restricted cash and cash
   equivalents

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Other assets

 

 

96

 

 

 

27

 

 

 

—

 

 

 

69

 

Total assets

 

$

3,505

 

 

$

3,429

 

 

$

7

 

 

$

69

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative contracts

 

$

(4

)

 

$

—

 

 

$

(4

)

 

$

—

 

As of December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

5,725

 

 

$

5,725

 

 

$

—

 

 

$

—

 

Short-term investments

 

 

747

 

 

 

747

 

 

 

—

 

 

 

—

 

Derivative contracts

 

 

-

 

 

 

—

 

 

 

—

 

 

 

—

 

Restricted cash and cash
   equivalents

 

 

3

 

 

 

3

 

 

 

—

 

 

 

—

 

Other assets

 

 

48

 

 

 

4

 

 

 

—

 

 

 

44

 

Total assets

 

$

6,523

 

 

$

6,479

 

 

$

—

 

 

$

44

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative contracts

 

$

(23

)

 

$

—

 

 

$

(23

)

 

$

—

 
v3.25.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Plans Activity

A summary of activity under Nucor’s stock option plans is as follows (shares in thousands):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

 

Exercise

 

 

 

 

 

Exercise

 

 

 

 

 

Exercise

 

 

 

Shares

 

 

Price

 

 

Shares

 

 

Price

 

 

Shares

 

 

Price

 

Number of shares under stock options:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     Outstanding at beginning of year

 

 

718

 

 

$

78.33

 

 

 

837

 

 

$

66.76

 

 

 

1,186

 

 

$

55.58

 

Granted

 

 

73

 

 

$

168.85

 

 

 

91

 

 

$

133.03

 

 

 

98

 

 

$

130.71

 

Exercised

 

 

(64

)

 

$

55.84

 

 

 

(210

)

 

$

55.85

 

 

 

(447

)

 

$

51.14

 

Canceled

 

 

(3

)

 

$

168.85

 

 

 

—

 

 

$

—

 

 

 

—

 

 

$

—

 

Outstanding at end of year

 

 

724

 

 

$

89.06

 

 

 

718

 

 

$

78.33

 

 

 

837

 

 

$

66.76

 

Stock options exercisable at end of year

 

 

490

 

 

$

63.65

 

 

 

433

 

 

$

48.33

 

 

 

313

 

 

$

59.60

 
Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2024 (shares in thousands):

 

 

Options Outstanding

 

 

Options Exercisable

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

Weighted-

 

 

 

 

 

Weighted-

 

Range of

 

Number

 

 

Remaining
Contractual

 

Average
Exercise

 

 

Number

 

 

Average
Exercise

 

Exercise Prices

 

Outstanding

 

 

Life

 

Price

 

 

Exercisable

 

 

Price

 

$40.00 - $70.00

 

 

355

 

 

5.2 years

 

$

44.06

 

 

 

355

 

 

$

44.06

 

$70.01 - $100.00

 

 

—

 

 

0.0 years

 

$

—

 

 

 

—

 

 

$

—

 

$100.01 - $130.00

 

 

116

 

 

6.4 years

 

$

110.74

 

 

 

116

 

 

$

110.74

 

$130.01 - $160.00

 

 

183

 

 

7.9 years

 

$

131.86

 

 

 

16

 

 

$

131.44

 

$160.01 - $168.85

 

 

70

 

 

9.4 years

 

$

168.85

 

 

 

4

 

 

$

168.85

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$40.00 - $168.85

 

 

724

 

 

6.5 years

 

$

89.06

 

 

 

491

 

 

$

63.65

 
Schedule of Grant Date Fair Value Black-Scholes Options-Pricing Model Assumptions The fair value was estimated using the Black-Scholes options pricing model with the following assumptions:

 

 

2024

 

 

2023

 

 

2022

 

Exercise price

 

$

168.85

 

 

$

133.03

 

 

$

130.71

 

Expected dividend yield

 

 

1.28

%

 

 

1.53

%

 

 

1.53

%

Expected stock price volatility

 

 

37.69

%

 

 

37.55

%

 

 

35.77

%

Risk-free interest rate

 

 

4.52

%

 

 

3.66

%

 

 

2.98

%

Expected life (years)

 

 

6.5

 

 

 

6.5

 

 

 

6.5

 

 
Summary of Nucor's RSU Activity

A summary of Nucor’s RSU activity is as follows (shares in thousands):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

 

 

 

Grant Date

 

 

 

 

Grant Date

 

 

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Restricted stock units:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unvested at beginning of year

 

 

947

 

 

$

124.89

 

 

 

1,003

 

 

$

98.66

 

 

 

1,167

 

 

$

60.45

 

Granted

 

 

749

 

 

$

168.85

 

 

 

831

 

 

$

133.03

 

 

 

774

 

 

$

130.71

 

Vested

 

 

(651

)

 

$

143.20

 

 

 

(873

)

 

$

102.79

 

 

 

(916

)

 

$

77.21

 

Canceled

 

 

(24

)

 

$

149.59

 

 

 

(14

)

 

$

106.76

 

 

 

(22

)

 

$

93.73

 

Unvested at end of year

 

 

1,021

 

 

$

144.89

 

 

 

947

 

 

$

124.89

 

 

 

1,003

 

 

$

98.66

 
Summary of Nucor's Restricted Stock Activity under AIP and LTIP

A summary of Nucor’s restricted stock activity under the AIP and the LTIP is as follows (shares in thousands):

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

 

 

Grant Date

 

 

 

 

Grant Date

 

 

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Restricted stock units and restricted
   stock awards:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unvested at beginning of year

 

 

210

 

 

$

145.55

 

 

 

209

 

 

$

108.55

 

 

 

107

 

 

$

57.17

 

Granted

 

 

421

 

 

$

187.54

 

 

 

414

 

 

$

171.38

 

 

 

465

 

 

$

128.62

 

Vested

 

 

(383

)

 

$

175.06

 

 

 

(406

)

 

$

152.68

 

 

 

(356

)

 

$

119.29

 

Canceled

 

 

—

 

 

$

—

 

 

 

(7

)

 

$

154.05

 

 

 

(7

)

 

$

113.86

 

Unvested at end of year

 

 

248

 

 

$

169.36

 

 

 

210

 

 

$

145.55

 

 

 

209

 

 

$

108.55

 
v3.25.0.1
Interest (Income) Expense (Tables)
 12 Months Ended
Dec. 31, 2024
Banking and Thrift, Interest [Abstract]  
Schedule of Components of Net Interest (Income) Expense

The components of net interest (income) expense are as follows (in millions):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Interest expense

 

$

228

 

 

$

246

 

 

$

219

 

Interest income

 

 

(258

)

 

 

(276

)

 

 

(49

)

Interest (income) expense, net

 

$

(30

)

 

$

(30

)

 

$

170

 
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Components of Earnings Before Income Taxes and Noncontrolling Interests

Components of earnings before income taxes and noncontrolling interests are as follows (in millions):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

United States

 

$

2,884

 

 

$

6,204

 

 

$

10,213

 

Foreign

 

 

18

 

 

 

69

 

 

 

32

 

 

$

2,902

 

 

$

6,273

 

 

$

10,245

 
Provision for Income Taxes

The provision for income taxes consists of the following (in millions):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Current:

 

 

 

 

 

 

 

 

 

Federal

 

$

587

 

 

$

1,128

 

 

$

1,896

 

State

 

 

77

 

 

 

194

 

 

 

304

 

Foreign

 

 

35

 

 

 

17

 

 

 

13

 

Total current

 

 

699

 

 

 

1,339

 

 

 

2,213

 

Deferred:

 

 

 

 

 

 

 

 

 

Federal

 

 

(108

)

 

 

20

 

 

 

77

 

State

 

 

(7

)

 

 

(19

)

 

 

(120

)

Foreign

 

 

(1

)

 

 

20

 

 

 

(4

)

Total deferred

 

 

(116

)

 

 

21

 

 

 

(47

)

Total provision for income taxes

 

$

583

 

 

$

1,360

 

 

$

2,166

 
Reconciliation of the Federal Statutory Tax Rate to Total Provisions

A reconciliation of the federal statutory tax rate (21%) to the total provision is as follows:

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Taxes computed at statutory rate

 

 

21.00

%

 

 

21.00

%

 

 

21.00

%

State income taxes, net of federal income tax benefit

 

 

1.79

%

 

 

2.14

%

 

 

1.41

%

Federal research credit

 

 

-1.55

%

 

 

-0.51

%

 

 

-0.10

%

Equity in losses of foreign joint venture

 

 

0.00

%

 

 

0.17

%

 

 

0.11

%

Foreign rate differential

 

 

-0.10

%

 

 

0.10

%

 

 

0.00

%

Foreign valuation allowance

 

 

1.13

%

 

 

0.08

%

 

 

0.00

%

Noncontrolling interests

 

 

-2.33

%

 

 

-1.27

%

 

 

-0.85

%

Other, net

 

 

0.15

%

 

 

-0.03

%

 

 

-0.44

%

Provision for income taxes

 

 

20.09

%

 

 

21.68

%

 

 

21.13

%
Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities resulted from the following (in millions):

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

Deferred tax assets:

 

 

 

 

 

 

Accrued liabilities and reserves

 

$

248

 

 

$

253

 

Allowance for doubtful accounts

 

 

40

 

 

 

39

 

Inventory

 

 

87

 

 

 

141

 

Research and development expenditures

 

 

207

 

 

 

134

 

Post-retirement benefits

 

 

9

 

 

 

8

 

Hedges

 

 

—

 

 

 

5

 

Net operating loss carryforward

 

 

113

 

 

 

94

 

Tax credit carryforwards

 

 

127

 

 

 

216

 

Other deferred tax assets

 

 

14

 

 

 

12

 

Valuation allowance

 

 

(152

)

 

 

(210

)

Total deferred tax assets

 

 

693

 

 

 

692

 

Deferred tax liabilities:

 

 

 

 

 

 

Holdbacks and amounts not due under contracts

 

 

(12

)

 

 

(16

)

Hedges

 

 

(1

)

 

 

—

 

Intangibles

 

 

(690

)

 

 

(706

)

Property, plant and equipment

 

 

(1,085

)

 

 

(1,170

)

Other deferred tax liabilities

 

 

(53

)

 

 

(48

)

Book/Tax differences on debt modifications

 

 

(44

)

 

 

(44

)

Total deferred tax liabilities

 

 

(1,885

)

 

 

(1,984

)

Total net deferred tax liabilities

 

$

(1,192

)

 

$

(1,292

)
Reconciliation of the Beginning and Ending Amounts of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits recorded in deferred credits and other liabilities in the consolidated balance sheets is as follows (in millions):

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Balance at beginning of year

 

$

188

 

 

$

142

 

 

$

95

 

Additions based on tax positions related to current year

 

 

31

 

 

 

44

 

 

 

55

 

Reductions based on tax positions related to
   current year

 

 

—

 

 

 

—

 

 

 

—

 

Additions based on tax positions related to prior years

 

 

7

 

 

 

10

 

 

 

13

 

Reductions based on tax positions related to
   prior years

 

 

(8

)

 

 

(1

)

 

 

(9

)

Reductions due to settlements with taxing authorities

 

 

—

 

 

 

—

 

 

 

—

 

Reductions due to statute of limitations lapse

 

 

(6

)

 

 

(7

)

 

 

(12

)

Balance at end of year

 

$

212

 

 

$

188

 

 

$

142

 
v3.25.0.1
Accumulated Other Comprehensive Income (Loss) (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Components of Accumulated Other Comprehensive Income (Loss)

The following tables reflect the changes in accumulated other comprehensive income (loss) by component (in millions):

 

 

 

Gains and
(Losses) on

 

 

Foreign
Currency

 

 

Adjustment
to Early

 

 

 

 

 

 

Hedging
Derivatives

 

 

Gains
(Losses)

 

 

Retiree
Medical Plan

 

 

Total

 

December 31, 2023

 

$

(14

)

 

$

(159

)

 

$

11

 

 

$

(162

)

Other comprehensive income
   (loss) before reclassifications

 

 

(6

)

 

 

(61

)

 

 

—

 

 

 

(67

)

Amounts reclassified from
   accumulated other
   comprehensive income
   (loss) into earnings (1)

 

 

21

 

 

 

—

 

 

 

—

 

 

 

21

 

Net current-period other
   comprehensive income (loss)

 

 

15

 

 

 

(61

)

 

 

—

 

 

 

(46

)

December 31, 2024

 

$

1

 

 

$

(220

)

 

$

11

 

 

$

(208

)

 

(1)
Includes $21 and $(0) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $7 and $(0), respectively.

 

 

 

Gains and
(Losses) on

 

 

Foreign
Currency

 

 

Adjustment
to Early

 

 

 

 

 

 

Hedging
Derivatives

 

 

Gains
(Losses)

 

 

Retiree
Medical Plan

 

 

Total

 

December 31, 2022

 

$

26

 

 

$

(180

)

 

$

17

 

 

$

(137

)

Other comprehensive income
   (loss) before reclassifications

 

 

(52

)

 

 

21

 

 

 

(5

)

 

 

(36

)

Amounts reclassified from
   accumulated other
   comprehensive income
   (loss) into earnings (2)

 

 

12

 

 

 

—

 

 

 

(1

)

 

 

11

 

Net current-period other
   comprehensive income (loss)

 

 

(40

)

 

 

21

 

 

 

(6

)

 

 

(25

)

December 31, 2023

 

$

(14

)

 

$

(159

)

 

$

11

 

 

$

(162

)

 

Includes $12 and $(1) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $4 and $(0.30), respectively.
v3.25.0.1
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Computations of Basic and Diluted Net Earnings Per Share

The computations of basic and diluted net earnings per share are as follows (in millions, except per share data):

 

Year Ended December 31,

 

2024

 

 

2023

 

 

2022

 

Basic net earnings per share:

 

 

 

 

 

 

 

 

 

Basic net earnings

 

$

2,027

 

 

$

4,525

 

 

$

7,607

 

Earnings allocated to participating securities

 

 

(9

)

 

 

(17

)

 

 

(31

)

Net earnings available to common stockholders

 

$

2,018

 

 

$

4,508

 

 

$

7,576

 

Basic average shares outstanding

 

 

238.3

 

 

 

249.8

 

 

 

262.3

 

Basic net earnings per share

 

$

8.47

 

 

$

18.05

 

 

$

28.88

 

Diluted net earnings per share:

 

 

 

 

 

 

 

 

 

Diluted net earnings

 

$

2,027

 

 

$

4,525

 

 

$

7,607

 

Earnings allocated to participating securities

 

 

(9

)

 

 

(17

)

 

 

(30

)

Net earnings available to common stockholders

 

$

2,018

 

 

$

4,508

 

 

$

7,577

 

Diluted average shares outstanding:

 

 

 

 

 

 

 

 

 

Basic average shares outstanding

 

 

238.3

 

 

 

249.8

 

 

 

262.3

 

Dilutive effect of stock options and other

 

 

0.2

 

 

 

0.6

 

 

 

0.9

 

 

 

 

238.5

 

 

 

250.4

 

 

 

263.2

 

Diluted net earnings per share

 

$

8.46

 

 

$

18.00

 

 

$

28.79

 
Anti-dilutive Stock Options

The following stock options were 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,

 

2024

 

 

2023

 

 

2022

 

Anti-dilutive stock options:

 

 

 

 

 

 

 

 

 

Weighted-average shares

 

 

35

 

 

 

-

 

 

 

25

 

Weighted-average exercise price

 

$

168.85

 

 

$

—

 

 

$

130.71

 
v3.25.0.1
Segments (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segments

Nucor’s results by segment were as follows (in millions):

 

 

2024

 

 

 

Steel Mills

 

 

Steel Products

 

 

Raw Materials

 

 

Totals

 

Sales

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

18,734

 

 

$

10,085

 

 

$

1,915

 

 

$

30,734

 

Intercompany sales

 

 

4,309

 

 

 

553

 

 

 

11,365

 

 

 

16,227

 

Total Sales

 

 

23,043

 

 

 

10,638

 

 

 

13,280

 

 

 

46,961

 

Reconciliation of Sales

 

 

 

 

 

 

 

 

 

 

 

 

Elimination of intercompany sales

 

 

 

 

 

 

 

 

 

 

 

(16,227

)

Net sales to external customers

 

 

 

 

 

 

 

 

 

 

 

30,734

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of products sold

 

 

20,766

 

 

 

8,644

 

 

 

11,028

 

 

 

40,438

 

Other segment items

 

 

51

 

 

 

398

 

 

 

2,212

 

 

 

2,661

 

Segment earnings before income taxes and noncontrolling interests

 

 

2,226

 

 

 

1,596

 

 

 

40

 

 

 

3,862

 

Reconciliation of earnings before income taxes and noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

 

Corporate/eliminations

 

 

 

 

 

 

 

 

 

 

 

(960

)

Earnings before income taxes and noncontrolling interests

 

 

 

 

 

 

 

 

 

 

$

2,902

 

 

 

 

2023

 

 

 

Steel Mills

 

 

Steel Products

 

 

Raw Materials

 

 

Totals

 

Sales

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

20,093

 

 

$

12,759

 

 

$

1,862

 

 

$

34,714

 

Intercompany sales

 

 

4,812

 

 

 

456

 

 

 

12,364

 

 

 

17,632

 

Total Sales

 

 

24,905

 

 

 

13,215

 

 

 

14,226

 

 

 

52,346

 

Reconciliation of Sales

 

 

 

 

 

 

 

 

 

 

 

 

Elimination of intercompany sales

 

 

 

 

 

 

 

 

 

 

 

(17,632

)

Net sales to external customers

 

 

 

 

 

 

 

 

 

 

 

34,714

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of products sold

 

 

21,120

 

 

 

9,357

 

 

 

11,787

 

 

 

42,264

 

Other segment items

 

 

73

 

 

 

414

 

 

 

2,185

 

 

 

2,672

 

Segment earnings before income taxes and noncontrolling interests

 

 

3,712

 

 

 

3,444

 

 

 

254

 

 

 

7,410

 

Reconciliation of earnings before income taxes and noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

 

Corporate/eliminations

 

 

 

 

 

 

 

 

 

 

 

(1,137

)

Earnings before income taxes and noncontrolling interests

 

 

 

 

 

 

 

 

 

 

$

6,273

 

 

 

 

 

2022

 

 

 

Steel Mills

 

 

Steel Products

 

 

Raw Materials

 

 

Totals

 

Sales

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

24,190

 

 

$

15,060

 

 

$

2,262

 

 

$

41,512

 

Intercompany sales

 

 

5,859

 

 

 

547

 

 

 

13,715

 

 

 

20,121

 

Total Sales

 

 

30,049

 

 

 

15,607

 

 

 

15,977

 

 

 

61,633

 

Reconciliation of Sales

 

 

 

 

 

 

 

 

 

 

 

 

Elimination of intercompany sales

 

 

 

 

 

 

 

 

 

 

 

(20,121

)

Net sales to external customers

 

 

 

 

 

 

 

 

 

 

 

41,512

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of products sold

 

 

22,760

 

 

 

11,213

 

 

 

13,020

 

 

 

46,993

 

Other segment items

 

 

90

 

 

 

301

 

 

 

2,460

 

 

 

2,851

 

Segment earnings before income taxes and noncontrolling interests

 

 

7,199

 

 

 

4,093

 

 

 

497

 

 

 

11,789

 

Reconciliation of earnings before income taxes and noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

 

Corporate/eliminations

 

 

 

 

 

 

 

 

 

 

 

(1,544

)

Earnings before income taxes and noncontrolling interests

 

 

 

 

 

 

 

 

 

 

$

10,245

 

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Depreciation expense:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

728

 

 

$

611

 

 

$

529

 

Steel products

 

 

150

 

 

 

131

 

 

 

116

 

Raw materials

 

 

197

 

 

 

174

 

 

 

171

 

Corporate

 

 

19

 

 

 

15

 

 

 

11

 

 

$

1,094

 

 

$

931

 

 

$

827

 

Amortization expense:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

8

 

 

$

8

 

 

$

8

 

Steel products

 

 

226

 

 

 

202

 

 

 

199

 

Raw materials

 

 

28

 

 

 

28

 

 

 

28

 

 

$

262

 

 

$

238

 

 

$

235

 

Segment assets:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

16,582

 

 

$

15,407

 

 

$

14,157

 

Steel products

 

 

11,235

 

 

 

10,915

 

 

 

12,087

 

Raw materials

 

 

3,656

 

 

 

3,547

 

 

 

3,383

 

Corporate/eliminations

 

 

2,467

 

 

 

5,471

 

 

 

2,852

 

 

$

33,940

 

 

$

35,340

 

 

$

32,479

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

Steel mills

 

$

2,238

 

 

$

1,440

 

 

$

1,453

 

Steel products

 

 

497

 

 

 

367

 

 

 

267

 

Raw materials

 

 

478

 

 

 

353

 

 

 

182

 

Corporate

 

 

75

 

 

 

55

 

 

 

50

 

 

$

3,288

 

 

$

2,215

 

 

$

1,952

 

 
Schedule of Net Sale by Product to External Customers

Net sales by product were as follows (in millions). Further product group breakdown is impracticable.

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Net sales to external customers:

 

 

 

 

 

 

 

 

 

Sheet

 

$

9,248

 

 

$

9,147

 

 

$

11,438

 

Bar

 

 

5,190

 

 

 

5,994

 

 

 

7,032

 

Structural

 

 

2,276

 

 

 

2,429

 

 

 

2,928

 

Plate

 

 

2,020

 

 

 

2,523

 

 

 

2,792

 

Tubular Products

 

 

1,292

 

 

 

1,588

 

 

 

1,945

 

Rebar Fabrication

 

 

1,777

 

 

 

2,182

 

 

 

2,206

 

Joist

 

 

1,230

 

 

 

2,212

 

 

 

2,958

 

Deck

 

 

998

 

 

 

1,712

 

 

 

2,392

 

Building Systems

 

 

1,347

 

 

 

1,376

 

 

 

1,793

 

Other Steel Products

 

 

3,441

 

 

 

3,689

 

 

 

3,766

 

Raw Materials

 

 

1,915

 

 

 

1,862

 

 

 

2,262

 

 

 

$

30,734

 

 

$

34,714

 

 

$

41,512

 
v3.25.0.1
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2024
Rytec [Member]  
Summary of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed of Rytec as of July 23, 2024, the date of acquisition (in millions):

Cash

 

$

1

 

Accounts receivable

 

 

35

 

Inventory

 

 

33

 

Other current assets

 

 

1

 

Property, plant and equipment

 

 

32

 

Goodwill

 

 

275

 

Other intangible assets

 

 

215

 

Other assets

 

 

—

 

Total assets acquired

 

 

592

 

Accounts payable

 

 

16

 

Salary, wages and related accruals

 

 

5

 

Other current liabilities

 

 

6

 

Total liabilities assumed

 

 

27

 

Net assets acquired

 

$

565

 
Summary of Purchase Price Allocation to Identifiable Intangible Assets

The following table summarizes the purchase price allocation to the identifiable intangible assets of Rytec as of July 23, 2024, the date of acquisition (in millions, except years):

 

 

 

 

 

Weighted-

 

 

 

 

 

Average Life

Customer relationships

 

$

185

 

 

15 years

Trademarks and trade names

 

 

16

 

 

10 years

Other intangibles

 

 

14

 

 

< 1 year

 

$

215

 

 

 
NJSM [Member]  
Summary of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed of NJSM, as well as the fair value of the 49% noncontrolling interest not acquired by Nucor, as of October 27, 2023, the date of acquisition (in millions):

 

Cash

 

$

11

 

Accounts receivable

 

 

11

 

Inventory

 

 

45

 

Other current assets

 

 

18

 

Property, plant and equipment

 

 

258

 

Goodwill

 

 

—

 

Other intangible assets

 

 

—

 

Other assets

 

 

—

 

Total assets acquired

 

 

343

 

Short-term debt

 

 

95

 

Current portion of long-term debt

 

 

50

 

Other current liabilities

 

 

14

 

Long-term debt due after one year

 

 

30

 

Other liabilities

 

 

1

 

Total liabilities assumed

 

 

190

 

Net assets acquired at 100%

 

 

153

 

Less: fair value of Noncontrolling interest

 

 

75

 

Net assets acquired at 51%

 

$

78

 
C.H.I. Overhead Doors [Member]  
Summary of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed of C.H.I. as of June 24, 2022, the date of acquisition (in millions):

 

Cash

 

$

159

 

Accounts receivable

 

 

78

 

Inventory

 

 

53

 

Other current assets

 

 

18

 

Property, plant and equipment

 

 

117

 

Goodwill

 

 

1,033

 

Other intangible assets

 

 

2,389

 

Other assets

 

 

10

 

Total assets acquired

 

 

3,857

 

Current liabilities

 

 

75

 

Deferred income taxes

 

 

578

 

Other liabilities

 

 

8

 

Total liabilities assumed

 

 

661

 

Net assets acquired

 

$

3,196

 
Summary of Purchase Price Allocation to Identifiable Intangible Assets

The following table summarizes the purchase price allocation to the identifiable intangible assets of C.H.I. as of June 24, 2022, the date of acquisition (in millions, except years):

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Average Life

Customer relationships

 

$

2,242

 

 

25 years

Trademarks and trade names

 

 

147

 

 

13 years

Backlog

 

 

—

 

 

1 year

 

 

$

2,389

 

 

 
CSI [Member]  
Summary of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of 100% of the assets and liabilities of CSI, as well as the fair value of the 49% noncontrolling interest not acquired by Nucor, as of February 1, 2022, the date Nucor acquired its 51% controlling ownership position (in millions):

 

Cash

 

$

99

 

Accounts receivable

 

 

159

 

Inventory

 

 

355

 

Other current assets

 

 

5

 

Property, plant and equipment

 

 

567

 

Goodwill

 

 

62

 

Other intangible assets

 

 

—

 

Other assets

 

 

7

 

Total assets acquired

 

 

1,254

 

Current portion of long-term debt

 

 

10

 

Other current liabilities

 

 

163

 

Long-term debt due after one year

 

 

68

 

Other liabilities

 

 

140

 

Total liabilities assumed

 

 

381

 

Net assets acquired at 100%

 

 

873

 

Less: Fair value of noncontrolling interest

 

 

428

 

Net assets acquired at 51%

 

$

445

 
v3.25.0.1
Quarterly Information (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2024
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Information

 

 

(in millions, except per share data)

 

 

 

Year Ended December 31, 2024

 

 

 

First Quarter

 

 

Second Quarter

 

 

Third Quarter

 

 

Fourth Quarter

 

Net sales

 

$

8,137

 

 

$

8,077

 

 

$

7,444

 

 

$

7,076

 

Gross margin

 

 

1,523

 

 

 

1,194

 

 

 

758

 

 

 

627

 

Net earnings before noncontrolling interests (1)

 

 

959

 

 

 

712

 

 

 

303

 

 

 

345

 

Net earnings attributable to Nucor
   stockholders

 

 

845

 

 

 

645

 

 

 

250

 

 

 

287

 

Net earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

3.46

 

 

$

2.68

 

 

$

1.05

 

 

$

1.22

 

Diluted

 

$

3.46

 

 

$

2.68

 

 

$

1.05

 

 

$

1.22

 

(1) Third quarter of 2024 results include losses and impairments of asset charges of $83 million and $40 million, related to the impairment of certain non-current assets in the raw materials and steel products segments, respectively.

 

 

 

 

(in millions, except per share data)

 

 

 

Year Ended December 31, 2023

 

 

 

First Quarter

 

 

Second Quarter

 

 

Third Quarter

 

 

Fourth Quarter

 

Net sales

 

$

8,710

 

 

$

9,523

 

 

$

8,776

 

 

$

7,704

 

Gross margin

 

 

1,998

 

 

 

2,502

 

 

 

1,921

 

 

 

1,394

 

Net earnings before noncontrolling interests

 

 

1,232

 

 

 

1,587

 

 

 

1,221

 

 

 

873

 

Net earnings attributable to Nucor
   stockholders

 

 

1,137

 

 

 

1,461

 

 

 

1,142

 

 

 

785

 

Net earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

4.47

 

 

$

5.82

 

 

$

4.58

 

 

$

3.17

 

Diluted

 

$

4.45

 

 

$

5.81

 

 

$

4.57

 

 

$

3.16

 
v3.25.0.1
Nature of Operations and Basis of Presentation - Additional Information (Detail)
Dec. 31, 2024
Dec. 31, 2023
Oct. 27, 2023
Oct. 26, 2023
Nucor-Yamato Steel Company [Member]        
Summary Of Organization And Operations [Line Items]        
Noncontrolling interest, ownership percentage by parent 51.00%      
CSI [Member]        
Summary Of Organization And Operations [Line Items]        
Noncontrolling interest, ownership percentage by parent 51.00%      
NJSM [Member]        
Summary Of Organization And Operations [Line Items]        
Noncontrolling interest, ownership percentage by parent 51.00% 51.00% 51.00% 50.00%
v3.25.0.1
Summary of Significant Accounting Policies - Additional Information (Detail)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Cash equivalents original maturity period three months or less
v3.25.0.1
Short-term Investments - Additional Information (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Short Term Investments [Abstract]    
Short-term investments held $ 581 $ 747
v3.25.0.1
Accounts Receivable - Additional Information (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounts Receivable Net [Abstract]      
Allowance for credit losses $ 115 $ 127 $ 200
v3.25.0.1
Inventories - Additional Information (Detail)
Dec. 31, 2024
Dec. 31, 2023
Inventory Disclosure [Abstract]    
Raw materials and supplies in inventory, percentage 34.00% 37.00%
Finished and semi-finished products in inventory, percentage 66.00% 63.00%
v3.25.0.1
Leases - Additional Information (Detail)
 12 Months Ended
Dec. 31, 2024
Disclosure of Leases [Line Items]  
Operating lease, renewal term can extend the lease term from one to five years or sometimes
Weighted-average discount rate - finance leases 10.40%
Minimum [Member]  
Disclosure of Leases [Line Items]  
Operating lease, renewal period 1 year
Maximum [Member]  
Disclosure of Leases [Line Items]  
Operating lease, renewal period 5 years
v3.25.0.1
Leases - Quantitative data related to our leases (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disclosure of Leases [Line Items]      
Operating lease cost $ 29 $ 30 $ 27
Finance lease cost:      
Total finance lease cost 33 31 31
Total lease cost 62 61 58
Cash paid for amounts included in measurement of lease liabilities:      
Operating cash flows from operating leases 30 30 27
Operating cash flows from finance leases 11 12 12
Financing cash flows from finance leases 14 17 16
Additions to right-of-use assets obtained from      
Operating lease liabilities 36 27 34
Finance lease liabilities 15 16 27
Assets:      
Operating lease assets $ 107 $ 103  
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets  
Finance lease assets $ 163 $ 167  
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, plant and equipment, net Property, plant and equipment, net  
Total leased assets $ 270 $ 270  
Liabilities      
Current operating $ 24 $ 25  
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other current liabilities Accrued expenses and other current liabilities  
Current finance $ 17 $ 14  
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Current portion of long-term debt and finance lease obligations Current portion of long-term debt and finance lease obligations  
Non-current operating $ 93 $ 82  
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Deferred credits and other liabilities Deferred credits and other liabilities  
Non-current finance $ 174 $ 175  
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Long-term debt and finance lease obligations due after one year Long-term debt and finance lease obligations due after one year  
Total leased liabilities $ 308 $ 296  
Weighted-average remaining lease term - operating leases 7 years 9 months 18 days    
Weighted-average remaining lease term - finance leases 13 years 1 month 6 days    
Weighted-average discount rate - operating leases 4.50%    
Weighted-average discount rate - finance leases 10.40%    
Maturity Of Lease Liabilities [Abstract]      
2025 $ 29    
2026 25    
2027 19    
2028 16    
2029 12    
Thereafter 41    
Total lease payments 142    
Less imputed interest (25)    
Present value of lease liabilities 117    
2025 25    
2026 24    
2027 23    
2028 22    
2029 21    
Thereafter 145    
Total lease payments 260    
Less imputed interest (69)    
Present value of lease liabilities 191 189  
Cost of Products Sold      
Disclosure of Leases [Line Items]      
Operating lease cost 18 27 24
Finance lease cost:      
Amortization of leased assets 30 19 19
Marketing, Administrative and Other Expenses      
Disclosure of Leases [Line Items]      
Operating lease cost 11 3 3
Interest Expense, Net      
Finance lease cost:      
Interest on lease liabilities $ 3 $ 12 $ 12
v3.25.0.1
Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross $ 25,865 $ 22,839  
Less accumulated depreciation (12,622) (11,789)  
Property, plant and equipment, net, total 13,243 11,050  
Land and Improvements, Net [Member]      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 1,257 1,183  
Buildings and Improvements [Member]      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 2,764 2,551  
Machinery and Equipment [Member]      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 17,431 16,328  
Proved Oil and Gas Properties [Member]      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 559 559  
Leasehold Interest in Unproved Oil and Gas Properties [Member]      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 96 96  
Property, plant and equipment, net, total     $ 0
Construction in Process and Equipment Deposits [Member]      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross $ 3,758 $ 2,122  
v3.25.0.1
Property, Plant and Equipment - Additional Information (Detail) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Line Items]          
Non-cash impairment charge     $ 137,000,000   $ 102,000,000
Property, plant and equipment, net $ 13,243,000,000   13,243,000,000 $ 11,050,000,000  
Government financial assistance         275,000,000
Steel Mills [Member] | NJSM [Member]          
Property, Plant and Equipment [Line Items]          
Non-cash impairment charge 0        
Property, plant and equipment, net $ 235,000,000   $ 235,000,000    
Land and Improvements, Net [Member] | Minimum [Member]          
Property, Plant and Equipment [Line Items]          
Estimated useful lives range 5 years   5 years    
Land and Improvements, Net [Member] | Maximum [Member]          
Property, Plant and Equipment [Line Items]          
Estimated useful lives range 25 years   25 years    
Buildings and Improvements [Member] | Minimum [Member]          
Property, Plant and Equipment [Line Items]          
Estimated useful lives range 4 years   4 years    
Buildings and Improvements [Member] | Maximum [Member]          
Property, Plant and Equipment [Line Items]          
Estimated useful lives range 40 years   40 years    
Machinery and Equipment [Member] | Minimum [Member]          
Property, Plant and Equipment [Line Items]          
Estimated useful lives range 2 years   2 years    
Machinery and Equipment [Member] | Maximum [Member]          
Property, Plant and Equipment [Line Items]          
Estimated useful lives range 15 years   15 years    
Leasehold Interest in Unproved Oil and Gas Properties [Member]          
Property, Plant and Equipment [Line Items]          
Non-cash impairment charge   $ 96,000,000      
Property, plant and equipment, net   $ 0     0
Construction in Process and Equipment Deposits [Member]          
Property, Plant and Equipment [Line Items]          
Amount of qualifying expenditures included as contra asset in CIP       $ 95,000,000 $ 180,000,000
v3.25.0.1
Goodwill and Other Intangible Assets - Schedule of Change in Net Carrying Amount of Goodwill by Segment (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Line Items]    
Balance, beginning of period $ 3,969 $ 3,920
Acquisitions 335 43
Translation (16) 6
Balance, end of period 4,288 3,969
Steel Mills [Member]    
Goodwill [Line Items]    
Balance, beginning of period 675 675
Balance, end of period 675 675
Steel Products [Member]    
Goodwill [Line Items]    
Balance, beginning of period 2,514 2,510
Acquisitions 318 (2)
Translation (16) 6
Balance, end of period 2,816 2,514
Raw Materials [Member]    
Goodwill [Line Items]    
Balance, beginning of period 780 735
Acquisitions 17 45
Balance, end of period $ 797 $ 780
v3.25.0.1
Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Finite And Indefinite Lived Intangible Assets [Line Items]      
Intangible asset amortization expense $ 262,000,000 $ 238,000,000 $ 235,000,000
Future amortization expense, in 2025 253,000,000    
Future amortization expense, in 2026 248,000,000    
Future amortization expense, in 2027 245,000,000    
Future amortization expense, in 2028 242,000,000    
Future amortization expense, in 2029 208,000,000    
Impairment of goodwill 0 0 0
Goodwill 4,288,000,000 3,969,000,000 $ 3,920,000,000
Finite-lived intangible assets $ 3,134,000,000 $ 3,108,000,000  
Minimum [Member]      
Finite And Indefinite Lived Intangible Assets [Line Items]      
Intangible assets, useful life 5 years    
Maximum [Member]      
Finite And Indefinite Lived Intangible Assets [Line Items]      
Intangible assets, useful life 25 years    
v3.25.0.1
Goodwill and Other Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Intangible assets, Gross Amount $ 4,960 $ 4,672
Intangible assets, Accumulated Amortization 1,826 1,564
Customer Relationships [Member]    
Finite-Lived Intangible Assets [Line Items]    
Intangible assets, Gross Amount 4,444 4,190
Intangible assets, Accumulated Amortization 1,512 1,296
Trademarks and Trade Names [Member]    
Finite-Lived Intangible Assets [Line Items]    
Intangible assets, Gross Amount 387 372
Intangible assets, Accumulated Amortization 192 168
Other [Member]    
Finite-Lived Intangible Assets [Line Items]    
Intangible assets, Gross Amount 129 110
Intangible assets, Accumulated Amortization $ 122 $ 100
v3.25.0.1
Equity Investments - Additional Information (Detail)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Facility
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Oct. 27, 2023
Oct. 26, 2023
Schedule Of Equity Method Investments [Line Items]          
Equity method investments $ 483 $ 480      
Nucor JFE Steel Mexico [Member]          
Schedule Of Equity Method Investments [Line Items]          
Noncontrolling interest, ownership percentage by parent 51.00% 51.00%   51.00% 50.00%
Additional equity investment interest percent purchased   1.00%   1.00%  
NuMit LLC [Member]          
Schedule Of Equity Method Investments [Line Items]          
Equity method investment, ownership percentage 50.00%        
Equity method investments $ 438 $ 432      
Distributions from affiliates $ 25 $ 33 $ 56    
Steel Technologies LLC [Member]          
Schedule Of Equity Method Investments [Line Items]          
Equity method investment, ownership percentage 100.00%        
Number of sheet processing facilities operated by Steel Technologies | Facility 32        
v3.25.0.1
Current Liabilities - Additional Information (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Liabilities, Current [Abstract]    
Book overdrafts $ 146 $ 159
Dividends payable, current $ 129 $ 134
v3.25.0.1
Debt and Other Financing Arrangements - Schedule of Debt and Other Financing Arrangements (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
May 23, 2022
Mar. 11, 2022
Debt Instrument [Line Items]        
Finance lease obligations $ 191 $ 189    
Total long-term debt and finance lease obligations 6,918 6,926    
Less premium on debt exchange 165 171    
Less debt issuance costs 28 32 $ 6 $ 15
Total amounts outstanding 6,725 6,723    
Less current maturities of long-term debt 1,025 60    
Less current portion of finance lease obligations 17 14    
Total long-term debt and finance lease obligations due after one year 5,683 6,649    
Notes, 2.000%, due 2025 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 500 500    
Notes, 3.950%, due 2025 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 500 500 500  
Notes, 4.300%, due 2027 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 500 500 $ 500  
Term Notes, 2.950%, due 2027 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 48 58    
Notes, 3.950%, due 2028 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 500 500    
Notes, 2.700%, due 2030 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 500 500    
Notes, 3.125%, due 2032 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 550 550   550
Notes, 6.400%, due 2037 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 543 543    
Notes, 5.200%, due 2043 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 338 338    
Notes, 4.400%, due 2048 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 329 329    
Notes, 3.850%, due 2052 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 550 550   $ 550
Notes, 2.979%, due 2055 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 439 439    
Industrial Revenue Bonds [Member] | Due from 2025 to 2061 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount 1,350 1,350    
NUE NJSM Notes [Member] | NJSM notes due from 2025 to 2029 [Member]        
Debt Instrument [Line Items]        
Debt instrument face amount $ 80 $ 80    
v3.25.0.1
Debt and Other Financing Arrangements - Schedule of Debt and Other Financing Arrangements (Parenthetical) (Detail) - USD ($)
 12 Months Ended
May 23, 2022
Mar. 11, 2022
Feb. 01, 2022
Dec. 31, 2024
Dec. 31, 2023
CSI [Member]          
Debt Instrument [Line Items]          
Acquired controlling ownership percentage     51.00%    
Due from 2025 to 2061 [Member] | Industrial Revenue Bonds [Member]          
Debt Instrument [Line Items]          
Debt instrument - maturity year - start       2025  
Debt instrument - maturity year - end       2061  
Principal amount of notes       $ 1,350,000,000 $ 1,350,000,000
Due from 2025 to 2061 [Member] | Industrial Revenue Bonds [Member] | Minimum [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate       3.92% 4.20%
Due from 2025 to 2061 [Member] | Industrial Revenue Bonds [Member] | Maximum [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate       4.70% 5.10%
NJSM notes due from 2025 to 2029 [Member] | NUE NJSM Notes [Member]          
Debt Instrument [Line Items]          
Debt instrument - maturity year - start       2025  
Debt instrument - maturity year - end       2029  
Line of credit facility maximum borrowing capacity       $ 80,000,000  
Principal amount of notes       $ 80,000,000 $ 80,000,000
NJSM notes due from 2025 to 2029 [Member] | NUE NJSM Notes [Member] | Minimum [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate       5.46%  
NJSM notes due from 2025 to 2029 [Member] | NUE NJSM Notes [Member] | Maximum [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate       6.88%  
Notes, 2.000%, due 2025 [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate       2.00%  
Debt instrument - maturity year       2025  
Principal amount of notes       $ 500,000,000 500,000,000
Notes, 3.950%, due 2025 [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate 3.95%     3.95%  
Debt instrument - maturity year 2025     2025  
Principal amount of notes $ 500,000,000     $ 500,000,000 500,000,000
Notes, 4.300%, due 2027 [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate 4.30%     4.30%  
Debt instrument - maturity year 2027     2027  
Principal amount of notes $ 500,000,000     $ 500,000,000 500,000,000
Term Notes, 2.950%, due 2027 [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate       2.95%  
Debt instrument - maturity year       2027  
Principal amount of notes       $ 48,000,000 58,000,000
Term Notes, 2.950%, due 2027 [Member] | CSI [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate     2.95%    
Acquired controlling ownership percentage     51.00%    
Principal amount of notes     $ 101,000,000    
Payments due quarterly     $ 3,000,000    
Maturity period     Mar. 31, 2027    
Notes, 3.950%, due 2028 [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate       3.95%  
Debt instrument - maturity year       2028  
Principal amount of notes       $ 500,000,000 500,000,000
Notes, 2.700%, due 2030 [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate       2.70%  
Debt instrument - maturity year       2030  
Principal amount of notes       $ 500,000,000 500,000,000
Notes, 3.125%, due 2032 [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate   3.125%   3.125%  
Debt instrument - maturity year   2032   2032  
Principal amount of notes   $ 550,000,000   $ 550,000,000 550,000,000
Notes, 6.400%, due 2037 [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate       6.40%  
Debt instrument - maturity year       2037  
Principal amount of notes       $ 543,000,000 543,000,000
Notes, 5.200%, due 2043 [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate       5.20%  
Debt instrument - maturity year       2043  
Principal amount of notes       $ 338,000,000 338,000,000
Notes, 4.400%, due 2048 [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate       4.40%  
Debt instrument - maturity year       2048  
Principal amount of notes       $ 329,000,000 329,000,000
Notes, 3.850%, due 2052 [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate   3.85%   3.85%  
Debt instrument - maturity year   2052   2052  
Principal amount of notes   $ 550,000,000   $ 550,000,000 550,000,000
Notes, 2.979%, due 2055 [Member]          
Debt Instrument [Line Items]          
Debt instrument interest rate       2.979%  
Debt instrument - maturity year       2055  
Principal amount of notes       $ 439,000,000 $ 439,000,000
v3.25.0.1
Debt and Other Financing Arrangements - Additional Information (Detail) - USD ($)
 12 Months Ended
Aug. 15, 2022
May 23, 2022
Apr. 25, 2022
Mar. 11, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]              
Annual aggregate long-term debt maturities - 2025         $ 1,030,000,000.00    
Annual aggregate long-term debt maturities - 2026         65,000,000    
Annual aggregate long-term debt maturities - 2027         532,000,000    
Annual aggregate long-term debt maturities - 2028         553,000,000    
Annual aggregate long-term debt maturities - 2029         66,000,000    
Annual aggregate long-term debt maturities - thereafter         4,480,000,000    
Net proceeds of debt issuance and sale of notes after expenses and the underwriting discount   $ 992,000,000   $ 1,090,000,000.00      
Debt issuance and sale costs of Notes   6,000,000   15,000,000 28,000,000 $ 32,000,000  
Redemption amount         10,000,000 10,000,000 $ 1,111,000,000
Short-term borrowings         225,000,000 119,000,000  
Letters of credit outstanding         59,000,000 58,000,000  
Harris Steel [Member]              
Debt Instrument [Line Items]              
Line of credit facility maximum borrowing capacity         18,000,000    
Line of credit         0 0  
Nucor Trading S.A. [Member]              
Debt Instrument [Line Items]              
Short-term borrowings         45,000,000 24,000,000  
NJSM [Member]              
Debt Instrument [Line Items]              
Short-term borrowings         180,000,000 95,000,000  
Notes, 3.125%, due 2032 [Member]              
Debt Instrument [Line Items]              
Debt instrument face amount       $ 550,000,000 $ 550,000,000 550,000,000  
Debt instrument interest rate       3.125% 3.125%    
Debt instrument - maturity year       2032 2032    
Notes, 3.850%, due 2052 [Member]              
Debt Instrument [Line Items]              
Debt instrument face amount       $ 550,000,000 $ 550,000,000 550,000,000  
Debt instrument interest rate       3.85% 3.85%    
Debt instrument - maturity year       2052 2052    
Notes, 4.125%, due 2022 [Member]              
Debt Instrument [Line Items]              
Debt instrument face amount       $ 600,000,000      
Debt instrument interest rate       4.125%      
Debt instrument - maturity year       2022      
Redemption amount $ 600,000,000            
Notes, 4.000%, due 2023 [Member]              
Debt Instrument [Line Items]              
Debt instrument face amount       $ 500,000,000      
Debt instrument interest rate       4.00%      
Debt instrument - maturity year       2023      
Redemption amount     $ 500,000,000        
Notes, 3.950%, due 2025 [Member]              
Debt Instrument [Line Items]              
Debt instrument face amount   $ 500,000,000     $ 500,000,000 500,000,000  
Debt instrument interest rate   3.95%     3.95%    
Debt instrument - maturity year   2025     2025    
Notes, 4.300%, due 2027 [Member]              
Debt Instrument [Line Items]              
Debt instrument face amount   $ 500,000,000     $ 500,000,000 500,000,000  
Debt instrument interest rate   4.30%     4.30%    
Debt instrument - maturity year   2027     2027    
Revolving Credit Facility [Member]              
Debt Instrument [Line Items]              
Line of credit facility maximum borrowing capacity         $ 1,750,000,000    
Line of revolving credit facility expiration date         Nov. 05, 2026    
Ratio on the limit of funded debt to capital on credit facility         60.00%    
Line of credit         $ 0 $ 0  
Ratio funded debt to total capital         25.00%    
Letter of Credit [Member]              
Debt Instrument [Line Items]              
Line of credit facility maximum borrowing capacity         $ 100,000,000    
Additional Commitments at Nucor's Election in Accordance with Terms of Credit Agreement [Member] | Revolving Credit Facility [Member]              
Debt Instrument [Line Items]              
Credit facility availability         500,000,000    
Revolving Loans For Nucor Subsidiaries [Member] | Revolving Credit Facility [Member]              
Debt Instrument [Line Items]              
Line of credit facility maximum borrowing capacity         $ 500,000,000    
v3.25.0.1
Capital Stock - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
May 11, 2023
Capital Stock [Line Items]        
The par value of common stock $ 0.4      
Common stock shares authorized 800,000,000 800,000,000    
Preferred stock shares authorized 250,000      
Preferred stock par value per share $ 4      
Preferred stock shares issued 0      
Preferred stock shares outstanding 0      
Dividends declared per share $ 2.17 $ 2.07 $ 2.01  
Repurchase of common stock $ 2,217,000,000 $ 1,554,000,000 $ 2,763,000,000  
Common Stock [Member]        
Capital Stock [Line Items]        
Share repurchase program, available repurchase amount $ 1,110,000,000      
Common Stock [Member] | Maximum [Member]        
Capital Stock [Line Items]        
Stock Repurchase Program, Authorized Amount       $ 4,000,000,000
v3.25.0.1
Derivative Financial Instruments - Fair Values of Derivative Financial Instruments (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivatives, Fair Value [Line Items]    
Derivative Assets, Fair Value $ 7  
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other Assets Current, Other Assets Noncurrent  
Derivative Liabilities, Fair Value $ (4) $ (23)
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued Liabilities Current Accrued Liabilities Current
Derivatives Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities, Fair Value $ (4) $ (19)
Derivatives Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Assets, Fair Value 6  
Commodity Contracts [Member] | Derivatives Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities, Fair Value $ (4) $ (15)
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued Liabilities Current Accrued Liabilities Current
Commodity Contracts [Member] | Derivatives Designated as Hedging Instrument [Member] | Other Current Assets [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Assets, Fair Value $ 4  
Commodity Contracts [Member] | Derivatives Designated as Hedging Instrument [Member] | Other Assets [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Assets, Fair Value 2  
Commodity Contracts [Member] | Derivatives Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities, Fair Value   $ (4)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]   Accrued Liabilities Current
Commodity Contracts [Member] | Derivatives Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities, Fair Value   $ (4)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]   Deferred Tax And Other Liabilities Noncurrent
Foreign Exchange Contracts [Member] | Derivatives Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Assets, Fair Value $ 1  
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other Assets Current  
v3.25.0.1
Derivative Financial Instruments - Effect of Derivatives Financial Instruments on Consolidated Statements of Earnings (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of Gain or (Loss), Net of Tax, Recognized in OCI on Derivatives (Effective Portion) $ (6) $ (52) $ 77
Cost of Products Sold [Member] | Commodity Contracts [Member] | Derivatives Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of Gain or (Loss), Net of Tax, Recognized in OCI on Derivatives (Effective Portion) (6) (52) 77
Amount of Gain or (Loss), Net of Tax, Reclassified from Accumulated OCI into Earnings on Derivatives (Effective Portion) $ (21) $ (12) $ 52
v3.25.0.1
Derivative Financial Instruments - Additional Information (Detail)
MMBTU in Millions
Dec. 31, 2024
MMBTU
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Notional amount of commodity derivatives 33
v3.25.0.1
Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Short-term investments $ 581 $ 747  
Derivative contracts, assets $ 7    
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other Assets Current, Other Assets Noncurrent    
Total assets $ 33,940 35,340 $ 32,479
Derivative contracts, liabilities $ (4) $ (23)  
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued Liabilities Current Accrued Liabilities Current  
Reported Value Measurement [Member]      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Cash equivalents $ 2,821 $ 5,725  
Short-term investments 581 747  
Derivative contracts, assets 7    
Restricted cash and cash equivalents   3  
Other assets 96 48  
Total assets 3,505 6,523  
Derivative contracts, liabilities (4) (23)  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member]      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Cash equivalents 2,821 5,725  
Short-term investments 581 747  
Restricted cash and cash equivalents   3  
Other assets 27 4  
Total assets 3,429 6,479  
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member]      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Derivative contracts, assets 7    
Total assets 7    
Derivative contracts, liabilities (4) (23)  
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member]      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Other assets 69 44  
Total assets $ 69 $ 44  
v3.25.0.1
Fair Value Measurements - Additional Information (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Fair Value Disclosures [Abstract]    
Fair value of short-term and long-term debt, including current maturities $ 6,190 $ 6,220
v3.25.0.1
Stock-Based Compensation - Additional Information (Detail) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
May 14, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock options exercise prices as percentage of the market value on the date of the grant 100.00%      
Total intrinsic value of stock options exercised $ 9 $ 25 $ 32  
Total aggregate intrinsic value of stock options 26      
Total aggregate intrinsic value of stock option exercisable $ 26      
Grant date fair value of stock options granted $ 67.83 $ 49.62 $ 45.27  
Compensation expenses for stock options $ 5 $ 5 $ 5  
Stock Options [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock options vesting period 3 years      
Stock options term, years 10 years      
Unrecognized compensation expense related to stock $ 2      
Weighted-average recognition period for unrecognized compensation expense related to stock (years) 1 year 10 months 24 days      
Restricted Stock Units [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Unrecognized compensation expense related to stock $ 101      
Weighted-average recognition period for unrecognized compensation expense related to stock (years) 1 year 1 month 6 days      
Compensation expense $ 106 88 80  
Total fair value of shares, vested $ 110 121 120  
Omnibus Plan [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock based compensation, common stock available for grant 3,000,000      
Omnibus Plan [Member] | Maximum [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock based compensation, common stock available for grant       19,000,000
LTIP [Member] | Restricted Stock Units [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Eligible age of officer for restricted stock award 55 years      
AIP [Member] | Restricted Stock Units [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Eligible age of officer for restricted stock award 55 years      
Additional common stock units for election of deferred annual incentive award, percentage 25.00%      
AIP and LTIP [Member] | Restricted Stock Awards and Units [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Unrecognized compensation expense related to stock $ 10      
Weighted-average recognition period for unrecognized compensation expense related to stock (years) 1 year 8 months 12 days      
Compensation expense $ 21 38 51  
Total fair value of shares, vested $ 71 $ 69 $ 46  
Inactive Plans [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares reserved for future issuance 100,000      
v3.25.0.1
Stock-Based Compensation - Schedule of Stock Option Plans Activity (Detail) - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]      
Outstanding at beginning of year, Shares 718 837 1,186
Granted, Shares 73 91 98
Exercised, Shares (64) (210) (447)
Canceled, Shares (3)    
Outstanding at end of year, Shares 724 718 837
Stock options exercisable at end of year, Shares 490 433 313
Outstanding at beginning of year, Weighted - Average Exercise Price $ 78.33 $ 66.76 $ 55.58
Granted, Weighted - Average Exercise Price 168.85 133.03 130.71
Exercised, Weighted - Average Exercise Price 55.84 55.85 51.14
Canceled, Weighted - Average Exercise Price 168.85    
Outstanding at end of period, Weighted - Average Exercise Price 89.06 78.33 66.76
Stock options exercisable at end of year, Weighted - Average Exercise Price $ 63.65 $ 48.33 $ 59.6
v3.25.0.1
Stock-Based Compensation - Summary of Stock Options Outstanding (Detail)
shares in Thousands
 12 Months Ended
Dec. 31, 2024
$ / shares
shares
$40.00 - $70.00 [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Options Outstanding, Number Outstanding | shares 355
Options Outstanding, Weighted-Average Remaining Contractual Life 5 years 2 months 12 days
Options Outstanding, Weighted-Average Exercise Price $ 44.06
Options Exercisable, Number Exercisable | shares 355
Options Exercisable, Weighted-Average Exercise Price $ 44.06
$40.00 - $70.00 [Member] | Minimum [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Exercise Price 40
$40.00 - $70.00 [Member] | Maximum [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Exercise Price $ 70
$70.01 - $100.00 [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Options Outstanding, Weighted-Average Remaining Contractual Life 0 years
$70.01 - $100.00 [Member] | Minimum [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Exercise Price $ 70.01
$70.01 - $100.00 [Member] | Maximum [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Exercise Price $ 100
$100.01 - $130.00 [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Options Outstanding, Number Outstanding | shares 116
Options Outstanding, Weighted-Average Remaining Contractual Life 6 years 4 months 24 days
Options Outstanding, Weighted-Average Exercise Price $ 110.74
Options Exercisable, Number Exercisable | shares 116
Options Exercisable, Weighted-Average Exercise Price $ 110.74
$100.01 - $130.00 [Member] | Minimum [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Exercise Price 100.01
$100.01 - $130.00 [Member] | Maximum [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Exercise Price $ 130
$130.01 - $160.00 [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Options Outstanding, Number Outstanding | shares 183
Options Outstanding, Weighted-Average Remaining Contractual Life 7 years 10 months 24 days
Options Outstanding, Weighted-Average Exercise Price $ 131.86
Options Exercisable, Number Exercisable | shares 16
Options Exercisable, Weighted-Average Exercise Price $ 131.44
$130.01 - $160.00 [Member] | Minimum [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Exercise Price 130.01
$130.01 - $160.00 [Member] | Maximum [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Exercise Price $ 160
$160.01 - $168.85 [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Options Outstanding, Number Outstanding | shares 70
Options Outstanding, Weighted-Average Remaining Contractual Life 9 years 4 months 24 days
Options Outstanding, Weighted-Average Exercise Price $ 168.85
Options Exercisable, Number Exercisable | shares 4
Options Exercisable, Weighted-Average Exercise Price $ 168.85
$160.01 - $168.85 [Member] | Minimum [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Exercise Price 160.01
$160.01 - $168.85 [Member] | Maximum [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Exercise Price $ 168.85
$40.00 - $168.85 [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Options Outstanding, Number Outstanding | shares 724
Options Outstanding, Weighted-Average Remaining Contractual Life 6 years 6 months
Options Outstanding, Weighted-Average Exercise Price $ 89.06
Options Exercisable, Number Exercisable | shares 491
Options Exercisable, Weighted-Average Exercise Price $ 63.65
$40.00 - $168.85 [Member] | Minimum [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Exercise Price 40
$40.00 - $168.85 [Member] | Maximum [Member]  
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]  
Exercise Price $ 168.85
v3.25.0.1
Stock-Based Compensation - Schedule of Grant Date Fair Value Black-Scholes Option-Pricing Model Assumptions (Detail) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]      
Exercise price $ 168.85 $ 133.03 $ 130.71
Expected dividend yield 1.28% 1.53% 1.53%
Expected stock price volatility 37.69% 37.55% 35.77%
Risk-free interest rate 4.52% 3.66% 2.98%
Expected life (years) 6 years 6 months 6 years 6 months 6 years 6 months
v3.25.0.1
Stock-Based Compensation - Summary of Nucor's RSU Activity (Detail) - Restricted Stock Units [Member] - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unvested at beginning of year, Shares 947 1,003 1,167
Granted, Shares 749 831 774
Vested, Shares (651) (873) (916)
Canceled, Shares (24) (14) (22)
Unvested at end of year, Shares 1,021 947 1,003
Unvested at beginning of year, Grant Date Fair Value $ 124.89 $ 98.66 $ 60.45
Granted, Grant Date Fair Value 168.85 133.03 130.71
Vested, Grant Date Fair Value 143.2 102.79 77.21
Canceled, Grant Date Fair Value 149.59 106.76 93.73
Unvested at end of year, Grant Date Fair Value $ 144.89 $ 124.89 $ 98.66
v3.25.0.1
Stock-Based Compensation - Summary of Nucor's Restricted Stock Activity under AIP and LTIP (Detail) - Restricted Stock Units and Restricted Stock Awards [Member] - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unvested at beginning of year, Shares 210 209 107
Granted, Shares 421 414 465
Vested, Shares (383) (406) (356)
Canceled, Shares   (7) (7)
Unvested at end of year, Shares 248 210 209
Unvested at beginning of year, Grant Date Fair Value $ 145.55 $ 108.55 $ 57.17
Granted, Grant Date Fair Value 187.54 171.38 128.62
Vested, Grant Date Fair Value 175.06 152.68 119.29
Canceled, Grant Date Fair Value   154.05 113.86
Unvested at end of year, Grant Date Fair Value $ 169.36 $ 145.55 $ 108.55
v3.25.0.1
Employee Benefit Plans - Additional Information (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Employee Benefit Plan [Abstract]      
Profit Sharing and Retirement Savings Plan, plan expense $ 298.0 $ 611.0 $ 994.0
Unfunded obligation 35.0 33.0  
Expense associated with early retiree medical plan $ 3.0 $ 0.3 $ 2.0
Discount rate used to calculate benefit obligation 5.70% 5.00% 5.20%
Health care cost trend rate 6.30% 6.80% 6.30%
Projected ultimate future health care cost trend rate 4.00%    
Year that trend rate is projected to reach ultimate rate 2050    
v3.25.0.1
Interest (Income) Expense - Schedule of Components of Net Interest (Income) Expense (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest Revenue Or Expense Net [Abstract]      
Interest expense $ 228 $ 246 $ 219
Interest income (258) (276) (49)
Interest (income) expense, net $ (30) $ (30) $ 170
v3.25.0.1
Interest (Income) Expense - Additional Information (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest Revenue Or Expense Net [Abstract]      
Interest paid $ 256 $ 257 $ 230
v3.25.0.1
Income Taxes - Components of Earnings Before Income Taxes and Noncontrolling Interests (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
United States $ 2,884 $ 6,204 $ 10,213
Foreign 18 69 32
Earnings before income taxes and noncontrolling interests $ 2,902 $ 6,273 $ 10,245
v3.25.0.1
Income Taxes - Provision for Income Taxes (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Components Of Income Tax Expense Benefit Continuing Operations [Abstract]      
Federal, current $ 587 $ 1,128 $ 1,896
State, current 77 194 304
Foreign, current 35 17 13
Total current 699 1,339 2,213
Federal, deferred (108) 20 77
State, deferred (7) (19) (120)
Foreign, deferred (1) 20 (4)
Total deferred (116) 21 (47)
Total provision for income taxes $ 583 $ 1,360 $ 2,166
v3.25.0.1
Income Taxes - Additional Information (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Disclosure [Line Items]        
Federal statutory tax rate 21.00% 21.00% 21.00%  
Effective income tax rate 20.09% 21.68% 21.13%  
Non-current deferred tax assets included in other assets $ 44 $ 41    
Non-current deferred tax liabilities included in deferred credits and other liabilities 1,192 1,292    
Current federal and state income taxes receivable 218 346    
Net federal, state and foreign income taxes paid (refund received) 508 1,060 $ 2,630  
Unrecognized tax benefits 212 188 142 $ 95
Amount of unrecognized tax benefits affects effective tax rate 209 188    
Estimate of possible decrease in gross uncertain tax positions, exclusive of interest, as a result of the expiration of the statute of limitations 32      
Expense (benefit) for interest and penalties 12 10 $ 9  
Accrued interest and penalties related to uncertain tax positions 50 37    
Deferred Credits and Other Liabilities [Member]        
Income Tax Disclosure [Line Items]        
Non-current deferred tax liabilities included in deferred credits and other liabilities 1,240 1,330    
State and Local Jurisdiction [Member]        
Income Tax Disclosure [Line Items]        
State NOL carryforwards $ 200 185    
State and Local Jurisdiction [Member] | Maximum [Member]        
Income Tax Disclosure [Line Items]        
Unused NOL carryforward expiration year 2044      
State and Local Jurisdiction [Member] | Minimum [Member]        
Income Tax Disclosure [Line Items]        
Unused NOL carryforward expiration year 2025      
Foreign Country [Member]        
Income Tax Disclosure [Line Items]        
Foreign NOL carryforwards $ 355 $ 326    
Foreign Country [Member] | Maximum [Member]        
Income Tax Disclosure [Line Items]        
Unused NOL carryforward expiration year 2034      
Foreign Country [Member] | Minimum [Member]        
Income Tax Disclosure [Line Items]        
Unused NOL carryforward expiration year 2026      
v3.25.0.1
Income Taxes - Reconciliation of the Federal Statutory Tax Rate to Total Provisions (Detail)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Taxes computed at statutory rate 21.00% 21.00% 21.00%
State income taxes, net of federal income tax benefit 1.79% 2.14% 1.41%
Federal research credit (1.55%) (0.51%) (0.10%)
Equity in losses of foreign joint venture 0.00% 0.17% 0.11%
Foreign rate differential (0.10%) 0.10% 0.00%
Foreign valuation allowance 1.13% 0.08% 0.00%
Noncontrolling interests (2.33%) (1.27%) (0.85%)
Other, net 0.15% (0.03%) (0.44%)
Provision for income taxes 20.09% 21.68% 21.13%
v3.25.0.1
Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Components Of Deferred Tax Assets And Liabilities [Abstract]    
Accrued liabilities and reserves $ 248 $ 253
Allowance for doubtful accounts 40 39
Inventory 87 141
Research and development expenditures 207 134
Post-retirement benefits 9 8
Hedges 0 5
Net operating loss carryforward 113 94
Tax credit carryforwards 127 216
Other deferred tax assets 14 12
Valuation allowance (152) (210)
Total deferred tax assets 693 692
Holdbacks and amounts not due under contracts (12) (16)
Hedges (1) 0
Intangibles (690) (706)
Property, plant and equipment (1,085) (1,170)
Other deferred tax liabilities (53) (48)
Book/Tax differences on debt modifications (44) (44)
Total deferred tax liabilities (1,885) (1,984)
Total net deferred tax liabilities $ (1,192) $ (1,292)
v3.25.0.1
Income Taxes - Reconciliation of the Beginning and Ending Amounts of Unrecognized Tax Benefits (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reconciliation Of Unrecognized Tax Benefits Excluding Amounts Pertaining To Examined Tax Returns Roll Forward      
Balance at beginning of year $ 188 $ 142 $ 95
Additions based on tax positions related to current year 31 44 55
Additions based on tax positions related to prior years 7 10 13
Reductions based on tax positions related to prior years (8) (1) (9)
Reductions due to statute of limitations lapse (6) (7) (12)
Balance at end of year $ 212 $ 188 $ 142
v3.25.0.1
Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) Net Of Tax [Abstract]      
Beginning Balance, Gains and (Losses) on Hedging Derivatives $ (14) $ 26  
Other comprehensive income (loss) before reclassifications, Gains and (Losses) on Hedging Derivatives (6) (52) $ 77
Amounts reclassified from accumulated other comprehensive income (loss) into earnings, Gains and (Losses) on Hedging Derivatives 21 [1] 12 [2] (52)
Net current-period other comprehensive income (loss), Gains and (Losses) on Hedging Derivatives 15 (40)  
Ending Balance, Gains and (Losses) on Hedging Derivatives 1 (14) 26
Beginning Balance, Foreign Currency Gains (Losses) (159) (180)  
Other comprehensive income (loss) before reclassifications, Foreign Currency Gains (Losses) (61) 21 (55)
Net current-period other comprehensive income (loss), Foreign Currency Gains (Losses) (61) 21  
Ending Balance, Foreign Currency Gains (Losses) (220) (159) (180)
Beginning Balance, Adjustment to Early Retiree Medical Plan 11 17  
Other comprehensive income (loss) before reclassifications, Adjustment to Early Retiree Medical Plan   (5) 6
Amounts reclassified from accumulated other comprehensive income (loss) into earnings, Adjustment to Early Retiree Medical Plan   (1) [2] 2
Net current-period other comprehensive income (loss), Adjustment to Early Retiree Medical Plan 0 (6)  
Ending Balance, Adjustment to Early Retiree Medical Plan 11 11 17
Beginning Balance (162) (137)  
Other comprehensive income (loss) before reclassifications (67) (36)  
Amounts reclassified from accumulated other comprehensive income (loss) into earnings 21 [1] 11 [2]  
Net current-period other comprehensive income (loss) (46) (25) (22)
Ending Balance $ (208) $ (162) $ (137)
[1] Includes $21 and $(0) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $7 and $(0), respectively.
[2] Includes $12 and $(1) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $4 and $(0.30), respectively.
v3.25.0.1
Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Amounts reclassified from accumulated other comprehensive income (loss) into earnings, Gains and (Losses) on Hedging Derivatives $ 21,000 [1] $ 12,000 [2] $ (52,000)
Reclassification adjustment for (gain) loss on early retiree medical plan included in net earnings, net of income taxes of $0 for 2024, 2023 and 2022, respectively   (1,000) [2] 2,000
Reclassification adjustment for gain (loss) on settlement of hedging derivatives included in net earnings, tax effect 7,000 4,000 (16,000)
AOCI reclassification impact on tax 0 0 $ 0
Cost of Products Sold [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Amounts reclassified from accumulated other comprehensive income (loss) into earnings, Gains and (Losses) on Hedging Derivatives 21,000 12,000  
Reclassification adjustment for (gain) loss on early retiree medical plan included in net earnings, net of income taxes of $0 for 2024, 2023 and 2022, respectively 0 (1,000)  
Reclassification adjustment for gain (loss) on settlement of hedging derivatives included in net earnings, tax effect 7,000 4,000  
AOCI reclassification impact on tax $ 0 $ (300)  
[1] Includes $21 and $(0) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $7 and $(0), respectively.
[2] Includes $12 and $(1) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $4 and $(0.30), respectively.
v3.25.0.1
Earnings Per Share - Computations of Basic and Diluted Net Earnings Per Share (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 28, 2024
Jun. 29, 2024
Mar. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jul. 01, 2023
Apr. 01, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Earnings Per Share [Abstract]                      
Net Income (Loss) $ 287 $ 250 $ 645 $ 845 $ 785 $ 1,142 $ 1,461 $ 1,137 $ 2,027 $ 4,525 $ 7,607
Earnings allocated to participating securities, Basic                 (9) (17) (31)
Net earnings available to common stockholders, Basic                 $ 2,018 $ 4,508 $ 7,576
Basic average shares outstanding                 238.3 249.8 262.3
Basic net earnings per share $ 1.22 $ 1.05 $ 2.68 $ 3.46 $ 3.17 $ 4.58 $ 5.82 $ 4.47 $ 8.47 $ 18.05 $ 28.88
Diluted net earnings $ 287 $ 250 $ 645 $ 845 $ 785 $ 1,142 $ 1,461 $ 1,137 $ 2,027 $ 4,525 $ 7,607
Earnings allocated to participating securities, Diluted                 (9) (17) (30)
Net earnings available to common stockholders, Diluted                 $ 2,018 $ 4,508 $ 7,577
Dilutive effect of stock options and other                 0.2 0.6 0.9
Diluted average shares outstanding                 238.5 250.4 263.2
Diluted net earnings per share $ 1.22 $ 1.05 $ 2.68 $ 3.46 $ 3.16 $ 4.57 $ 5.81 $ 4.45 $ 8.46 $ 18 $ 28.79
v3.25.0.1
Earnings Per Share - Anti-dilutive Stock Options (Detail) - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2022
Earnings Per Share [Abstract]    
Weighted-average shares 35 25
Weighted-average exercise price $ 168.85 $ 130.71
v3.25.0.1
Segments - Additional Information (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Oct. 27, 2023
Oct. 26, 2023
Segment Reporting Information [Line Items]        
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration] srt:ChiefOperatingOfficerMember      
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description The measure of profit and loss that is used by the CODMs to assess segment performance and to allocate resources is earnings before income taxes and noncontrolling interests by segment (“segment earnings”). Our CODMs evaluate each segment’s performance based on metrics such as net sales, segment earnings and other key financial indicators, guiding strategic decisions to align with company-wide goals.      
NJSM [Member]        
Segment Reporting Information [Line Items]        
Additional equity investment interest percent acquired   1.00% 1.00%  
Noncontrolling interest, ownership percentage by parent 51.00% 51.00% 51.00% 50.00%
v3.25.0.1
Segments - Segments (Detail) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 28, 2024
Jun. 29, 2024
Mar. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jul. 01, 2023
Apr. 01, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]                      
Net sales $ 7,076 $ 7,444 $ 8,077 $ 8,137 $ 7,704 $ 8,776 $ 9,523 $ 8,710 $ 30,734 $ 34,714 $ 41,512
Total sales                 46,961 52,346 61,633
Depreciation expense                 1,094 931 827
Amortization expense                 262 238 235
Cost of products sold                 26,632 26,899 29,009
Other segment items                 2,661 2,672 2,851
Segment earnings before income taxes and noncontrolling interests                 3,862 7,410 11,789
Earnings before income taxes and noncontrolling interests                 2,902 6,273 10,245
Total assets 33,940       35,340       33,940 35,340 32,479
Capital expenditures                 3,288 2,215 1,952
Steel Mills [Member]                      
Segment Reporting Information [Line Items]                      
Total sales                 23,043 24,905 30,049
Other segment items                 51 73 90
Segment earnings before income taxes and noncontrolling interests                 2,226 3,712 7,199
Steel Products [Member]                      
Segment Reporting Information [Line Items]                      
Total sales                 10,638 13,215 15,607
Other segment items                 398 414 301
Segment earnings before income taxes and noncontrolling interests                 1,596 3,444 4,093
Raw Materials [Member]                      
Segment Reporting Information [Line Items]                      
Total sales                 13,280 14,226 15,977
Other segment items                 2,212 2,185 2,460
Segment earnings before income taxes and noncontrolling interests                 40 254 497
Operating Segments [Member]                      
Segment Reporting Information [Line Items]                      
Net sales                 30,734 34,714 41,512
Cost of products sold                 40,438 42,264 46,993
Operating Segments [Member] | Steel Mills [Member]                      
Segment Reporting Information [Line Items]                      
Net sales                 18,734 20,093 24,190
Depreciation expense                 728 611 529
Amortization expense                 8 8 8
Cost of products sold                 20,766 21,120 22,760
Total assets 16,582       15,407       16,582 15,407 14,157
Capital expenditures                 2,238 1,440 1,453
Operating Segments [Member] | Steel Products [Member]                      
Segment Reporting Information [Line Items]                      
Net sales                 10,085 12,759 15,060
Depreciation expense                 150 131 116
Amortization expense                 226 202 199
Cost of products sold                 8,644 9,357 11,213
Total assets 11,235       10,915       11,235 10,915 12,087
Capital expenditures                 497 367 267
Operating Segments [Member] | Raw Materials [Member]                      
Segment Reporting Information [Line Items]                      
Net sales                 1,915 1,862 2,262
Depreciation expense                 197 174 171
Amortization expense                 28 28 28
Cost of products sold                 11,028 11,787 13,020
Total assets 3,656       3,547       3,656 3,547 3,383
Capital expenditures                 478 353 182
Intercompany Eliminations [Member]                      
Segment Reporting Information [Line Items]                      
Net sales                 16,227 17,632 20,121
Intercompany Eliminations [Member] | Steel Mills [Member]                      
Segment Reporting Information [Line Items]                      
Net sales                 4,309 4,812 5,859
Intercompany Eliminations [Member] | Steel Products [Member]                      
Segment Reporting Information [Line Items]                      
Net sales                 553 456 547
Intercompany Eliminations [Member] | Raw Materials [Member]                      
Segment Reporting Information [Line Items]                      
Net sales                 11,365 12,364 13,715
Corporate and Eliminations Items [Member]                      
Segment Reporting Information [Line Items]                      
Net sales                 (16,227) (17,632) (20,121)
Earnings before income taxes and noncontrolling interests                 (960) (1,137) (1,544)
Corporate [Member]                      
Segment Reporting Information [Line Items]                      
Depreciation expense                 19 15 11
Total assets $ 2,467       $ 5,471       2,467 5,471 2,852
Capital expenditures                 $ 75 $ 55 $ 50
v3.25.0.1
Segments - Schedule of Net Sale by Product to External Customers (Detail) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 28, 2024
Jun. 29, 2024
Mar. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jul. 01, 2023
Apr. 01, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]                      
Revenue From Contract With Customer Excluding Assessed Tax $ 7,076 $ 7,444 $ 8,077 $ 8,137 $ 7,704 $ 8,776 $ 9,523 $ 8,710 $ 30,734 $ 34,714 $ 41,512
Sheet [Member]                      
Segment Reporting Information [Line Items]                      
Revenue From Contract With Customer Excluding Assessed Tax                 9,248 9,147 11,438
Bar [Member]                      
Segment Reporting Information [Line Items]                      
Revenue From Contract With Customer Excluding Assessed Tax                 5,190 5,994 7,032
Structural [Member]                      
Segment Reporting Information [Line Items]                      
Revenue From Contract With Customer Excluding Assessed Tax                 2,276 2,429 2,928
Plate [Member]                      
Segment Reporting Information [Line Items]                      
Revenue From Contract With Customer Excluding Assessed Tax                 2,020 2,523 2,792
Tubular Products [Member]                      
Segment Reporting Information [Line Items]                      
Revenue From Contract With Customer Excluding Assessed Tax                 1,292 1,588 1,945
Rebar Fabrication [Member]                      
Segment Reporting Information [Line Items]                      
Revenue From Contract With Customer Excluding Assessed Tax                 1,777 2,182 2,206
Joist [Member]                      
Segment Reporting Information [Line Items]                      
Revenue From Contract With Customer Excluding Assessed Tax                 1,230 2,212 2,958
Deck [Member]                      
Segment Reporting Information [Line Items]                      
Revenue From Contract With Customer Excluding Assessed Tax                 998 1,712 2,392
Building Systems [Member]                      
Segment Reporting Information [Line Items]                      
Revenue From Contract With Customer Excluding Assessed Tax                 1,347 1,376 1,793
Other Steel Products [Member]                      
Segment Reporting Information [Line Items]                      
Revenue From Contract With Customer Excluding Assessed Tax                 3,441 3,689 3,766
Raw Materials [Member]                      
Segment Reporting Information [Line Items]                      
Revenue From Contract With Customer Excluding Assessed Tax                 $ 1,915 $ 1,862 $ 2,262
v3.25.0.1
Revenue - Additional Information (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenue From Contract With Customers [Line Items]    
Contract with customer, timing of satisfaction of performance obligation and payment The durations of Nucor’s contracts with customers are generally one year or less. Customer payment terms are generally 30 days.  
Contract liabilities $ 200 $ 314
Revenue recognized from contract liabilities $ 177  
Nucor Racking Group [Member]    
Revenue From Contract With Customers [Line Items]    
Contract with customer, timing of satisfaction of performance obligation and payment three and six months  
Steel Mills [Member]    
Revenue From Contract With Customers [Line Items]    
Contract with customer, timing of satisfaction of performance obligation and payment one year or less  
v3.25.0.1
Restricted Cash and Cash Equivalents - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Restricted Cash And Cash Equivalents Items [Line Items]    
Restricted cash and cash equivalents $ 0 $ 4
v3.25.0.1
Acquisitions - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jul. 23, 2024
Oct. 27, 2023
Oct. 26, 2023
Jun. 24, 2022
Feb. 01, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Business Acquisition [Line Items]                
Goodwill           $ 4,288 $ 3,969 $ 3,920
Acquisitions net of cash acquired           $ 758 $ 71 3,553
Nucor JFE Steel Mexico [Member]                
Business Acquisition [Line Items]                
Business combination noncontrolling interest fair value percentage not acquired by Nucor   49.00%            
Implied percentage to determine fair value of noncontrolling interest   100.00%            
Additional equity investment interest percent acquired   1.00%         1.00%  
Noncontrolling interest, ownership percentage by parent   51.00% 50.00%     51.00% 51.00%  
Nucor JFE Steel Mexico [Member] | Marketing, Administrative and Other Expenses [Member]                
Business Acquisition [Line Items]                
Acquisition remeasured loss     $ 21          
Steel Products [Member]                
Business Acquisition [Line Items]                
Goodwill           $ 2,816 $ 2,514 2,510
C.H.I. Overhead Doors [Member]                
Business Acquisition [Line Items]                
Business acquisition, purchase price       $ 3,000        
Goodwill       1,033        
Goodwill recognized for tax purposes       6        
C.H.I. Overhead Doors [Member] | Steel Products [Member]                
Business Acquisition [Line Items]                
Goodwill       $ 1,040        
CSI [Member]                
Business Acquisition [Line Items]                
Business acquisition, purchase price         $ 400      
Goodwill         $ 62      
Acquired controlling ownership percentage         51.00%      
Percentage of assets and liabilities         100.00%      
Business combination noncontrolling interest fair value percentage not acquired by Nucor         49.00%      
Implied percentage to determine fair value of noncontrolling interest         100.00%      
CSI [Member] | Vale S.A [Member]                
Business Acquisition [Line Items]                
Acquired controlling ownership percentage         50.00%      
CSI [Member] | JFE Steel Corporation [Member]                
Business Acquisition [Line Items]                
Acquired controlling ownership percentage         1.00%      
Rytec [Member]                
Business Acquisition [Line Items]                
Business acquisition, purchase price $ 565              
Goodwill 275              
Goodwill recognized for tax purposes 275              
Rytec [Member] | Steel Products [Member]                
Business Acquisition [Line Items]                
Goodwill $ 275              
Other Acquisitions [Member]                
Business Acquisition [Line Items]                
Acquisitions net of cash acquired           $ 193 $ 71 $ 170
v3.25.0.1
Acquisitions - Summary of Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Jul. 23, 2024
Dec. 31, 2023
Oct. 27, 2023
Dec. 31, 2022
Jun. 24, 2022
Feb. 01, 2022
Business Acquisition [Line Items]              
Goodwill $ 4,288   $ 3,969   $ 3,920    
C.H.I. Overhead Doors [Member]              
Business Acquisition [Line Items]              
Cash           $ 159  
Accounts receivable           78  
Inventory           53  
Other current assets           18  
Property, plant and equipment           117  
Goodwill           1,033  
Other intangible assets           2,389  
Other assets           10  
Total assets acquired           3,857  
Current liabilities           75  
Deferred income taxes           578  
Other liabilities           8  
Total liabilities assumed           661  
Net assets acquired           $ 3,196  
CSI [Member]              
Business Acquisition [Line Items]              
Cash             $ 99
Accounts receivable             159
Inventory             355
Other current assets             5
Property, plant and equipment             567
Goodwill             62
Other assets             7
Total assets acquired             1,254
Current portion of long-term debt             10
Other current liabilities             163
Other liabilities             140
Total liabilities assumed             381
Net assets acquired             873
Long-term debt due after one year             68
Less: Fair value of noncontrolling interest             428
Net assets acquired at 51%             $ 445
NJSM [Member]              
Business Acquisition [Line Items]              
Cash       $ 11      
Accounts receivable       11      
Inventory       45      
Other current assets       18      
Property, plant and equipment       258      
Other assets       0      
Total assets acquired       343      
Short-term debt       95      
Current portion of long-term debt       50      
Other current liabilities       14      
Other liabilities       1      
Total liabilities assumed       190      
Net assets acquired       153      
Long-term debt due after one year       30      
Less: Fair value of noncontrolling interest       75      
Net assets acquired at 51%       $ 78      
Rytec [Member]              
Business Acquisition [Line Items]              
Cash   $ 1          
Accounts receivable   35          
Inventory   33          
Other current assets   1          
Property, plant and equipment   32          
Goodwill   275          
Other intangible assets   215          
Total assets acquired   592          
Accounts payable   16          
Salary, wages and related accruals   5          
Other current liabilities   6          
Total liabilities assumed   27          
Net assets acquired   $ 565          
v3.25.0.1
Acquisitions - Summary of Purchase Price Allocation to Identifiable Intangible Assets (Detail) - USD ($)
$ in Millions
Jul. 23, 2024
Jun. 24, 2022
C.H.I. Overhead Doors [Member]    
Business Acquisition [Line Items]    
Identifiable intangible assets   $ 2,389
C.H.I. Overhead Doors [Member] | Customer Relationships [Member]    
Business Acquisition [Line Items]    
Identifiable intangible assets   $ 2,242
Weighted-Average Life   25 years
C.H.I. Overhead Doors [Member] | Trademarks and Trade Names [Member]    
Business Acquisition [Line Items]    
Identifiable intangible assets   $ 147
Weighted-Average Life   13 years
C.H.I. Overhead Doors [Member] | Backlog [Member]    
Business Acquisition [Line Items]    
Identifiable intangible assets   $ 0
Weighted-Average Life   1 year
Rytec [Member]    
Business Acquisition [Line Items]    
Identifiable intangible assets $ 215  
Rytec [Member] | Customer Relationships [Member]    
Business Acquisition [Line Items]    
Identifiable intangible assets $ 185  
Weighted-Average Life 15 years  
Rytec [Member] | Trademarks and Trade Names [Member]    
Business Acquisition [Line Items]    
Identifiable intangible assets $ 16  
Weighted-Average Life 10 years  
Rytec [Member] | Other intangibles [Member]    
Business Acquisition [Line Items]    
Identifiable intangible assets $ 14  
Weighted-Average Life 1 year  
v3.25.0.1
Quarterly Information - Schedule of Quarterly Information (Unaudited) (Detail) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 28, 2024
Jun. 29, 2024
Mar. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jul. 01, 2023
Apr. 01, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]                      
Net sales $ 7,076 $ 7,444 $ 8,077 $ 8,137 $ 7,704 $ 8,776 $ 9,523 $ 8,710 $ 30,734 $ 34,714 $ 41,512
Gross margin 627 758 1,194 1,523 1,394 1,921 2,502 1,998      
Net earnings before noncontrolling interests 345 303 712 959 873 1,221 1,587 1,232 2,319 4,913 8,079
Net Income (Loss) $ 287 $ 250 $ 645 $ 845 $ 785 $ 1,142 $ 1,461 $ 1,137 $ 2,027 $ 4,525 $ 7,607
Basic $ 1.22 $ 1.05 $ 2.68 $ 3.46 $ 3.17 $ 4.58 $ 5.82 $ 4.47 $ 8.47 $ 18.05 $ 28.88
Diluted $ 1.22 $ 1.05 $ 2.68 $ 3.46 $ 3.16 $ 4.57 $ 5.81 $ 4.45 $ 8.46 $ 18 $ 28.79
v3.25.0.1
Quarterly Information - Schedule of Quarterly Information (Unaudited) (Parenthetical) (Detail) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Sep. 28, 2024
Dec. 31, 2024
Dec. 31, 2022
Quarterly Financial Information [Line Items]      
Losses and impairments of assets   $ 137 $ 102
Raw Materials [Member] | Operating Segments [Member]      
Quarterly Financial Information [Line Items]      
Losses and impairments of assets $ 83    
Steel Products [Member] | Operating Segments [Member]      
Quarterly Financial Information [Line Items]      
Losses and impairments of assets $ 40