2018 Q3 Form 10-Q Financial Statement

#000119312518320749 Filed on November 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $6.742B $5.175B
YoY Change 30.29% 21.88%
Cost Of Revenue $5.452B $4.591B
YoY Change 18.75% 25.42%
Gross Profit $1.290B $579.0M
YoY Change 122.84% -1.08%
Gross Profit Margin 19.14% 11.19%
Selling, General & Admin $234.1M $172.8M
YoY Change 35.47% 6.85%
% of Gross Profit 18.14% 29.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $180.0M $182.8M
YoY Change -1.53% 6.65%
% of Gross Profit 13.95% 31.57%
Operating Expenses $234.1M $172.8M
YoY Change 35.47% 6.85%
Operating Profit $1.056B $406.2M
YoY Change 160.01% -4.1%
Interest Expense $44.79M $47.62M
YoY Change -5.95% 9.53%
% of Operating Profit 4.24% 11.72%
Other Income/Expense, Net
YoY Change
Pretax Income $922.5M $370.6M
YoY Change 148.92% -4.94%
Income Tax $216.2M $104.5M
% Of Pretax Income 23.44% 28.2%
Net Earnings $676.7M $254.9M
YoY Change 165.51% 4.61%
Net Earnings / Revenue 10.04% 4.92%
Basic Earnings Per Share $2.13 $0.79
Diluted Earnings Per Share $2.13 $0.79
COMMON SHARES
Basic Shares Outstanding 315.9M 320.1M shares
Diluted Shares Outstanding 316.8M 320.8M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.932B $1.561B
YoY Change 23.77% -33.03%
Cash & Equivalents $1.932B $1.511B
Short-Term Investments $50.00M
Other Short-Term Assets $170.3M $238.6M
YoY Change -28.61% 84.58%
Inventory $4.106B $3.522B
Prepaid Expenses
Receivables $2.636B $2.114B
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.844B $7.501B
YoY Change 17.91% 14.72%
LONG-TERM ASSETS
Property, Plant & Equipment $5.151B $5.096B
YoY Change 1.09% 5.79%
Goodwill $2.194B $2.208B
YoY Change -0.63% 8.75%
Intangibles
YoY Change
Long-Term Investments $858.0M $695.2M
YoY Change 23.42% -6.43%
Other Assets $925.5M $758.8M
YoY Change 21.98% -4.89%
Total Long-Term Assets $9.119B $9.003B
YoY Change 1.28% 7.36%
TOTAL ASSETS
Total Short-Term Assets $8.844B $7.501B
Total Long-Term Assets $9.119B $9.003B
Total Assets $17.96B $16.50B
YoY Change 8.84% 10.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.448B $1.313B
YoY Change 10.26% 28.3%
Accrued Expenses $627.4M $593.1M
YoY Change 5.78% 12.7%
Deferred Revenue $85.00M
YoY Change
Short-Term Debt $52.83M $50.37M
YoY Change 4.88% 152.47%
Long-Term Debt Due $0.00 $1.100B
YoY Change -100.0%
Total Short-Term Liabilities $2.808B $3.555B
YoY Change -21.03% 83.64%
LONG-TERM LIABILITIES
Long-Term Debt $4.233B $3.241B
YoY Change 30.58% -25.27%
Other Long-Term Liabilities $365.0M $285.0M
YoY Change 28.07% 2.15%
Total Long-Term Liabilities $4.233B $3.241B
YoY Change 30.58% -25.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.808B $3.555B
Total Long-Term Liabilities $4.233B $3.241B
Total Liabilities $7.788B $7.658B
YoY Change 1.7% 9.34%
SHAREHOLDERS EQUITY
Retained Earnings $9.814B $8.202B
YoY Change 19.66% 12.05%
Common Stock $2.217B $2.165B
YoY Change 2.41% 3.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.792B $8.505B
YoY Change
Total Liabilities & Shareholders Equity $17.96B $16.50B
YoY Change 8.84% 10.58%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $676.7M $254.9M
YoY Change 165.51% 4.61%
Depreciation, Depletion And Amortization $180.0M $182.8M
YoY Change -1.53% 6.65%
Cash From Operating Activities $1.031B $106.8M
YoY Change 865.26% -66.15%
INVESTING ACTIVITIES
Capital Expenditures -$263.2M -$94.70M
YoY Change 177.93% -35.4%
Acquisitions
YoY Change
Other Investing Activities -$3.400M $4.300M
YoY Change -179.07% -100.87%
Cash From Investing Activities -$266.8M -$90.40M
YoY Change 195.13% -85.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -310.3M -164.5M
YoY Change 88.63% -6.9%
NET CHANGE
Cash From Operating Activities 1.031B 106.8M
Cash From Investing Activities -266.8M -90.40M
Cash From Financing Activities -310.3M -164.5M
Net Change In Cash 453.8M -148.1M
YoY Change -406.41% -70.45%
FREE CASH FLOW
Cash From Operating Activities $1.031B $106.8M
Capital Expenditures -$263.2M -$94.70M
Free Cash Flow $1.294B $201.5M
YoY Change 542.23% -56.39%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> <b><i>Reclassifications</i></b> <b>&#x2013; In the first quarter of 2018, the Company began reporting its tubular products and piling products businesses as part of the steel products segment. These businesses were previously included in the steel mills segment and were reclassified to the steel products segment as part of a realignment of Nucor&#x2019;s reportable segments to reflect the way in which they are now viewed by management and how segment performance assessments will be made by the chief operating decision maker beginning in such period. As a result, certain prior period amounts have been reclassified to conform to the current year presentation. These reclassifications did not have an impact on the condensed consolidated financial statements of the Company for the prior periods presented. See Note 15 for more information related to this segment realignment.</b></p> </div>
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0
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ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
899000
CY2017Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
900000
CY2017Q3 us-gaap Profit Loss
ProfitLoss
266105000
CY2017Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-195000
CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5170117000
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
172792000
CY2017Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
400000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
320763000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
320096000 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
667000 shares
CY2017Q3 nue Costs And Expenses Operating And Nonoperating
CostsAndExpensesOperatingAndNonoperating
4799512000
CY2017Q3 nue Profit Sharing And Retirement Savings Plan Expense
ProfitSharingAndRetirementSavingsPlanExpense
35700000
CY2017Q3 nue Benefit Related To State Tax Credits Return To Provision Change In Estimate
BenefitRelatedToStateTaxCreditsReturnToProvisionChangeInEstimate
13200000
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
265000 shares
CY2018Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
110000000
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
22100000
CY2018Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
29631000
CY2018Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.3800
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
698081000
CY2018Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
727712000
CY2018Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5452052000
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.234 pure
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.13
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.13
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
922502000
CY2018Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
13634000
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
216215000
CY2018Q3 us-gaap Interest Expense
InterestExpense
44789000
CY2018Q3 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
-37201000
CY2018Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
7588000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
673849000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
673860000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
676656000
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
29631000
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
0
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
21425000
CY2018Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
0
CY2018Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-1393000
CY2018Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-400000
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
22625000
CY2018Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
0
CY2018Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
22625000
CY2018Q3 us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
0
CY2018Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
21232000
CY2018Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-1200000
CY2018Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-193000
CY2018Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
100000
CY2018Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
0
CY2018Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
2796000
CY2018Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
2807000
CY2018Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
300000
CY2018Q3 us-gaap Profit Loss
ProfitLoss
706287000
CY2018Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-193000
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6742202000
CY2018Q3 us-gaap Revenues
Revenues
6742202000
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
234081000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
316798000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
315913000 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
885000 shares
CY2018Q3 nue Costs And Expenses Operating And Nonoperating
CostsAndExpensesOperatingAndNonoperating
5819700000
CY2018Q3 nue Profit Sharing And Retirement Savings Plan Expense
ProfitSharingAndRetirementSavingsPlanExpense
86400000
CY2018Q3 nue Increase In Revenue Had Previous Accounting Method Continued Used
IncreaseInRevenueHadPreviousAccountingMethodContinuedUsed
25200000
CY2018Q3 nue Increase In Cost Of Products Sold Had Previous Accounting Method Continued Used
IncreaseInCostOfProductsSoldHadPreviousAccountingMethodContinuedUsed
25200000
CY2018Q3 nue Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
65.80
CY2018Q3 nue Amount Of Increase If Previous Method Used As Percentage Of Sales
AmountOfIncreaseIfPreviousMethodUsedAsPercentageOfSales
0.004 pure
CY2017Q4 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0

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