Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Segment Information

Schedule of Operating Segment Results

The company’s segment results, with prior periods recast consistent with our current reportable segments presentation, including disaggregated revenue by segment to external, external non-United States, and other segment customers, are as follows (in thousands):



					Metals			Steel
For the three-month period ended		Steel			Recycling			Fabrication			Aluminum
June 30, 2025		Operations			Operations			Operations			Operations			Other ^(a)			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	3,154,477		$	375,526		$	340,605		$	65,632		$	356,222		$	-		$	4,292,462
External Non-United States			121,074			147,195			43			-			4,349			-			272,661
Other segments			108,578			639,432			24			27,935			865			(776,834)			-
Net sales			3,384,129			1,162,153			340,672			93,567			361,436			(776,834)			4,565,123
Less:
Cost of goods sold			2,945,794			1,113,549			220,902			87,849			348,666			(770,105)			3,946,655
Other segment items ^(b)			57,241			27,314			26,656			46,345			78,429			(372)			235,613
Operating income (loss)			381,094			21,290			93,114			(40,627)			(65,659)			(6,357)			382,855
Interest expense, net of capitalized interest																					17,381
Other (income) expense, net																					(22,392)
Income before income taxes																					387,866

Depreciation and amortization		$	97,377		$	15,881		$	3,250		$	2,840		$	13,517		$	-		$	132,865
Capital expenditures			76,072			26,873			3,283			210,534			6,218			(34,649)			288,331
Total Assets			8,967,541			1,473,372			620,394			3,394,694			3,853,868	^(c)		(2,761,231)			15,548,638



					Metals			Steel
For the three-month period ended		Steel			Recycling			Fabrication			Aluminum
June 30, 2024		Operations			Operations			Operations			Operations			Other ^(a)			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	2,937,985		$	324,666		$	472,790		$	68,031		$	439,464		$	-		$	4,242,936
External Non-United States			194,247			192,501			42			1,234			1,674			-			389,698
Other segments			115,730			592,509			904			12,539			-			(721,682)			-
Net sales			3,247,962			1,109,676			473,736			81,804			441,138			(721,682)			4,632,634
Less:
Cost of goods sold			2,756,599			1,053,939			269,479			75,661			428,151			(726,032)			3,857,797
Other segment items ^(b)			52,743			32,898			23,517			20,005			86,922			(371)			215,714
Operating income (loss)			438,620			22,839			180,740			(13,862)			(73,935)			4,721			559,123
Interest expense, net of capitalized interest																					12,719
Other (income) expense, net																					(18,708)
Income before income taxes																					565,112

Depreciation and amortization		$	87,497		$	18,202		$	2,777		$	1,732		$	6,845		$	-		$	117,053
Capital expenditures			131,662			14,338			7,709			274,126			14,095			(22,764)			419,166



					Metals			Steel
For the six-month period ended		Steel			Recycling			Fabrication			Aluminum
June 30, 2025		Operations			Operations			Operations			Operations			Other ^(a)			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	6,059,017		$	747,402		$	692,464		$	132,208		$	703,291		$	-		$	8,334,382
External Non-United States			283,550			310,214			491			-			5,681			-			599,936
Other segments			195,992			1,177,044			180			62,006			865			(1,436,087)			-
Net sales			6,538,559			2,234,660			693,135			194,214			709,837			(1,436,087)			8,934,318
Less:
Cost of goods sold			5,816,292			2,133,693			432,730			179,320			695,254			(1,427,983)			7,829,306
Other segment items ^(b)			112,311			53,967			50,545			84,256			146,675			(741)			447,013
Operating income (loss)			609,956			47,000			209,860			(69,362)			(132,092)			(7,363)			657,999
Interest expense, net of capitalized interest																					29,512
Other (income) expense, net																					(40,033)
Income before income taxes																					668,520

Depreciation and amortization		$	196,307		$	30,851		$	6,206		$	5,487		$	27,770		$	-		$	266,621
Capital expenditures			168,079			54,053			8,527			419,125			11,713			(67,660)			593,837



					Metals			Steel
For the six-month period ended		Steel			Recycling			Fabrication			Aluminum
June 30, 2024		Operations			Operations			Operations			Operations			Other ^(a)			Eliminations			Consolidated

Net sales - disaggregated revenue
External		$	6,071,595		$	654,510		$	918,886		$	129,110		$	747,323		$	-		$	8,521,424
External Non-United States			426,874			369,927			1,125			2,358			4,929			-			805,213
Other segments			264,021			1,126,932			5,488			22,492			-			(1,418,933)			-
Net sales			6,762,490			2,151,369			925,499			153,960			752,252			(1,418,933)			9,326,637
Less:
Cost of goods sold			5,546,810			2,047,201			519,020			140,237			735,071			(1,417,337)			7,571,002
Other segment items ^(b)			106,129			68,577			47,399			35,140			188,988			(696)			445,537
Operating income (loss)			1,109,551			35,591			359,080			(21,417)			(171,807)			(900)			1,310,098
Interest expense, net of capitalized interest																					24,697
Other (income) expense, net																					(45,492)
Income before income taxes																					1,330,893

Depreciation and amortization		$	175,004		$	35,465		$	5,459		$	2,959		$	13,418		$	-		$	232,305
Capital expenditures			227,495			45,058			13,145			512,598			17,944			(22,764)			793,476

^(a) Amounts included in Other are from subsidiary operations that are below the quantitative thresholds required for reportable segments and primarily consist of joint ventures and the idled Minnesota ironmaking operations. Also included are certain unallocated corporate accounts, such as the company's senior unsecured credit facility, senior notes, certain other investments, amortization of intangible assets and certain profit sharing expenses.

^(b) Other segment items for each reportable operating segment include selling, general, and administrative expenses including payroll & benefit expenses and professional service expenses. Other segment items within Other include selling, general, and administrative expenses such as payroll & benefit expenses, companywide equity-based compensation expenses, and professional service expenses, as well as company-wide profit sharing expense and amortization of intangible assets.

^(c) Asset amounts included in Other consist of assets held by subsidiary operations that are below the quantitative thresholds required for reportable segments and the company's corporate assets. Corporate assets primarily consist of cash, short-term and other investments, and intra-company debt.