NUCOR CORP
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
NUE$256.47+2.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities: | |||
| Net earnings before noncontrolling interests | $4,912,791 | $8,079,640 | $7,122,370 |
| Adjustments: | |||
| Depreciation | 930,585 | 826,692 | 735,406 |
| Amortization | 237,730 | 234,942 | 129,157 |
| Stock-based compensation | 130,162 | 136,834 | 135,775 |
| Deferred income taxes | 21,419 | (46,849) | 11,665 |
| Distributions from affiliates | 33,621 | 57,071 | 200 |
| Equity in earnings of unconsolidated affiliates | (12,783) | (10,714) | (103,068) |
| Losses and impairments of assets | — | 101,756 | 62,161 |
| Changes in assets and liabilities (exclusive of acquisitions and dispositions): | |||
| Accounts receivable | 663,825 | 501,225 | (1,392,084) |
| Inventories | (75,042) | 962,424 | (2,307,336) |
| Accounts payable | 361,146 | (496,234) | 383,428 |
| Federal income taxes | 188,344 | (337,359) | 313,679 |
| Salaries, wages and related accruals | (290,859) | 155,005 | 997,034 |
| Other operating activities | 10,992 | (92,379) | 142,389 |
| Cash provided by operating activities | 7,111,931 | 10,072,054 | 6,230,776 |
| Investing activities: | |||
| Capital expenditures | (2,214,157) | (1,947,897) | (1,621,989) |
| Investment in and advances to affiliates | (35,137) | (258) | (237) |
| Sale of business | — | 99,681 | — |
| Disposition of plant and equipment | 14,907 | 32,277 | 19,401 |
| Acquisitions (net of cash acquired) | (70,824) | (3,553,191) | (1,426,424) |
| Purchases of investments | (1,471,528) | (913,898) | (493,889) |
| Proceeds from the sale of investments | 1,317,308 | 590,173 | 648,887 |
| Other investing activities | (37,000) | (9,596) | 399 |
| Cash used in investing activities | (2,496,431) | (5,702,709) | (2,873,852) |
| Financing activities: | |||
| Net change in short-term debt | (24,870) | (58,642) | 49,817 |
| Proceeds from issuance of long-term debt, net of discount | — | 2,091,934 | 196,990 |
| Repayment of long-term debt | (10,000) | (1,111,000) | — |
| Bond issuance costs | — | (13,138) | — |
| Proceeds from exercise of stock options | 11,731 | 22,852 | 145,255 |
| Payment of tax withholdings on certain stock-based compensation | (49,318) | (64,079) | (73,260) |
| Distributions to noncontrolling interests | (435,047) | (332,293) | (150,700) |
| Cash dividends | (514,534) | (533,589) | (483,469) |
| Acquisition of treasury stock | (1,553,933) | (2,762,568) | (3,276,088) |
| Proceeds from government incentives | — | 275,000 | — |
| Other financing activities | (16,840) | (25,340) | (11,424) |
| Cash used in financing activities | (2,592,811) | (2,510,863) | (3,602,879) |
| Effect of exchange rate changes on cash | 2,883 | (5,920) | (316) |
| Increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents | 2,025,572 | 1,852,562 | (246,271) |
| Cash and cash equivalents and restricted cash and cash equivalents - beginning of year | 4,361,220 | 2,508,658 | 2,754,929 |
| Cash and cash equivalents and restricted cash and cash equivalents - end of year | $6,386,792 | $4,361,220 | $2,508,658 |
| Non-cash investing activity: | |||
| Change in accrued plant and equipment purchases | $1,053 | $4,568 | $78,375 |
NUCOR CORPORATION AND SUBSIDIARIES
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