Item 6. Selected Financial Data

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Item 6. Selected Financial Data

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The table below sets forth certain selected financial data concerning the Company for the five fiscal years ended December 31, 2019. The data is derived from the consolidated financial statements of the Company. See “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the accompanying notes to the consolidated financial statements for additional information.

	2019			2018			2017			2016			2015
(dollar and share amounts in thousands, except per share data)
FOR THE YEAR
Net sales	$	22,588,858		$	25,067,279		$	20,252,393		$	16,208,122		$	16,439,276
Costs, expenses and other:
Cost of products sold		19,909,773			20,771,871			17,682,986			14,182,215			15,325,386
Marketing, administrative and other expenses		711,248			860,722			687,531			596,761			458,989
Equity in earnings of unconsolidated affiliates		(3,311	)		(40,240	)		(41,661	)		(38,757	)		(5,329	)
Impairment of assets		66,916			110,000			—			—			244,833
Interest expense, net		121,425			135,535			173,580			169,244			173,531
		20,806,051			21,837,888			18,502,436			14,909,463			16,197,410
Earnings before income taxes and noncontrolling interests		1,782,807			3,229,391			1,749,957			1,298,659			241,866
Provision for income taxes		411,897			748,307			369,386			398,243			48,836
Net earnings		1,370,910			2,481,084			1,380,571			900,416			193,030
Earnings attributable to noncontrolling interests		99,767			120,317			61,883			104,145			112,306
Net earnings attributable to Nucor stockholders		1,271,143			2,360,767			1,318,688			796,271			80,724
Net earnings per share:
Basic		4.14			7.44			4.11			2.48			0.25
Diluted		4.14			7.42			4.10			2.48			0.25
Dividends declared per share		1.6025			1.5400			1.5125			1.5025			1.4925
Percentage of net earnings to net sales		5.6	%		9.4	%		6.5	%		4.9	%		0.5	%
Return on average stockholders’ equity		12.6	%		25.5	%		15.9	%		10.4	%		1.0	%
Cash provided by operating activities		2,809,413			2,393,952			1,055,338			1,750,001			2,168,761
Capital expenditures		1,512,070			997,256			507,074			617,677			364,768
Acquisitions (net of cash acquired)		83,106			33,063			544,041			474,788			19,089
Depreciation		648,911			630,879			635,833			613,192			625,757
Sales per average employee		849			986			820			690			690
AT YEAR END
Current assets	$	8,226,370		$	8,636,265		$	6,824,420		$	6,506,393		$	5,854,405
Current liabilities		2,463,774			2,806,300			2,824,764			2,389,966			1,385,173
Working capital		5,762,596			5,829,965			3,999,656			4,116,427			4,469,232
Current ratio		3.3			3.1			2.4			2.7			4.2
Property, plant and equipment, net		6,178,555			5,334,748			5,093,147			5,078,650			4,891,153
Total assets		18,344,666			17,920,588			15,841,258			15,223,518			14,326,969
Long-term debt (including current maturities) (1)		4,320,565			4,233,276			3,742,242			4,339,141			4,337,145
Percentage of debt to capital (2)		28.6	%		29.3	%		29.2	%		34.5	%		35.6	%
Total Nucor stockholders’ equity		10,357,866			9,792,078			8,739,036			7,879,865			7,477,816
Per share		34.32			32.04			27.48			24.72			23.52
Shares outstanding		301,812			305,592			317,969			318,737			317,962
Employees		26,800			26,300			25,100			23,900			23,700

1)	As a result of adopting the new lease accounting standard on January 1, 2019, the 2019 amount includes finance lease obligations as presented on the consolidated balance sheet at December 31, 2019. Nucor adopted the new lease accounting standard on the modified retrospective approach basis and did not adjust prior year amounts for this change.

2)	Long-term debt divided by total equity plus long-term debt

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