v3.25.2
Fair Value Measurements
 6 Months Ended
Jul. 05, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements

6. Fair Value Measurements

The following table summarizes information regarding Nucor’s financial assets and financial liabilities that were measured at fair value as of July 5, 2025 and December 31, 2024 (in millions). Nucor does not have any non-financial assets or non-financial liabilities that are measured at fair value on a recurring basis.

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

Description

 

Carrying
Amount in
Condensed
Consolidated
Balance
Sheets

 

 

Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

As of July 5, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

1,191

 

 

$

1,191

 

 

$

-

 

 

$

-

 

Short-term investments

 

 

537

 

 

 

537

 

 

 

-

 

 

 

-

 

Derivative contracts

 

 

7

 

 

 

-

 

 

 

7

 

 

 

-

 

Other assets

 

 

134

 

 

 

60

 

 

 

-

 

 

 

74

 

Total assets

 

$

1,869

 

 

$

1,788

 

 

$

7

 

 

$

74

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative contracts

 

$

(8

)

 

$

-

 

 

$

(8

)

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

2,821

 

 

$

2,821

 

 

$

-

 

 

$

-

 

Short-term investments

 

 

581

 

 

 

581

 

 

 

-

 

 

 

-

 

Derivative contracts

 

 

7

 

 

 

-

 

 

 

7

 

 

 

-

 

Other assets

 

 

96

 

 

 

27

 

 

 

-

 

 

 

69

 

Total assets

 

$

3,505

 

 

$

3,429

 

 

$

7

 

 

$

69

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative contracts

 

$

(4

)

 

$

-

 

 

$

(4

)

 

$

-

 

 

Fair value measurements for Nucor’s cash equivalents, short-term investments and 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 for Nucor's investments in privately held companies, most of which are in a nuclear fusion technology company, are classified under Level 3 because such measurements are estimated 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' interests 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 $6.26 billion at July 5, 2025 (approximately $6.19 billion at December 31, 2024). The debt fair value estimates are classified under Level 2 because such estimates are based on readily available market prices of our debt at July 5, 2025 and December 31, 2024, or similar debt with the same maturities, ratings and interest rates.