v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and equivalents $ 567,708 $ 769,878
Inventories 3,955,621 3,738,516
Other current assets 314,768 293,117
Total current assets 7,281,035 6,484,171
Property, plant and equipment, net 8,491,771 8,569,466
Intangible assets, net 315,759 331,290
Goodwill 477,471 477,471
Other assets 547,363 557,382
Total assets 17,113,399 16,419,780
Current liabilities    
Income taxes payable 32,345 67,315
Accrued payroll and benefits 313,113 361,494
Accrued expenses 456,950 427,432
Current maturities of long-term debt 1,332 34,655
Total current liabilities 2,287,306 2,122,254
Long-term debt 4,180,810 4,176,508
Deferred income taxes 1,070,817 1,004,375
Other liabilities 211,395 186,232
Total liabilities 7,750,328 7,489,369
Commitments and contingencies
Redeemable noncontrolling interests 143,259 141,226
Equity    
Common stock voting, $0.0025 par value; 900,000,000 shares authorized; 268,694,947 and 268,644,427 shares issued; and 143,610,058 and 144,940,102 shares outstanding, as of June 30, 2026 and December 31, 2025, respectively 653 653
Treasury stock, at cost; 125,084,889 and 123,704,325 shares, as of June 30, 2026 and December 31, 2025, respectively (8,287,758) (7,980,549)
Additional paid-in capital 1,229,734 1,248,634
Retained earnings 16,473,691 15,689,042
Accumulated other comprehensive income (loss) 3,212 (598)
Total Steel Dynamics, Inc. equity 9,419,532 8,957,182
Noncontrolling interests (199,720) (167,997)
Total equity 9,219,812 8,789,185
Total liabilities and equity 17,113,399 16,419,780
Unrelated parties    
Current assets    
Accounts receivable 2,435,045 1,680,249
Current liabilities    
Accounts payable 1,465,868 1,223,776
Related parties    
Current assets    
Accounts receivable 7,893 2,411
Current liabilities    
Accounts payable $ 17,698 $ 7,582