10-Q Filing

RELIANCE, INC. CIK: 861884 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001104659-15-033135`
Period End Date	20150331
Filing Date	20150501
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	rs-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 92 Income Statement 31 Cash Flow Statement 59 Comprehensive Income 14

Balance Sheet 92 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$19.90M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$18.30M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$83.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$101.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$106.20M	USD	Point-in-time
Preferred stock, Authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$113.60M	USD	Point-in-time
Preferred stock, Authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $19.9 at March 31, 2015 and $18.3 at December 31, 2014	`AccountsReceivableNetCurrent`	$1.21B	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $19.9 at March 31, 2015 and $18.3 at December 31, 2014	`AccountsReceivableNetCurrent`	$1.14B	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$1.80B	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$1.75B	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$49.60M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$71.80M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, Authorized shares	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, Authorized shares	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, Issued shares	`CommonStockSharesIssued`	77.34M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$46.40M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$46.40M	USD	Point-in-time
Common stock, Issued shares	`CommonStockSharesIssued`	74.75M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	74.75M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.21B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.12B	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	77.34M	shares	Point-in-time
Land	`Land`	$197.50M	USD	Point-in-time
Land	`Land`	$197.50M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$983.20M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$986.70M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.48B	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.50B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.04B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.00B	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentNet`	$1.64B	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentNet`	$1.66B	USD	Point-in-time
Goodwill	`Goodwill`	$1.73B	USD	Point-in-time
Goodwill	`Goodwill`	$1.74B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.24B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.22B	USD	Point-in-time
Cash surrender value of life insurance policies, net	`CashSurrenderValueOfLifeInsurance`	$46.40M	USD	Point-in-time
Cash surrender value of life insurance policies, net	`CashSurrenderValueOfLifeInsurance`	$43.90M	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$34.70M	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$34.30M	USD	Point-in-time
Total assets	`Assets`	$7.89B	USD	Point-in-time
Total assets	`Assets`	$7.84B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$417.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$286.50M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$98.20M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$93.80M	USD	Point-in-time
Accrued compensation and retirement costs	`EmployeeRelatedLiabilitiesCurrent`	$95.10M	USD	Point-in-time
Accrued compensation and retirement costs	`EmployeeRelatedLiabilitiesCurrent`	$128.40M	USD	Point-in-time
Accrued insurance costs	`AccruedInsuranceCurrent`	$46.60M	USD	Point-in-time
Accrued insurance costs	`AccruedInsuranceCurrent`	$45.10M	USD	Point-in-time
Current maturities of long-term debt and short-term borrowings	`DebtCurrent`	$93.90M	USD	Point-in-time
Current maturities of long-term debt and short-term borrowings	`DebtCurrent`	$100.20M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$33.20M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$9.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$662.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$784.80M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.27B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.22B	USD	Point-in-time
Long-term retirement costs	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$103.70M	USD	Point-in-time
Long-term retirement costs	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$102.20M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$28.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$28.30M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$692.90M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$691.70M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, no par value: Authorized shares - 5,000,000 None issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value: Authorized shares - 5,000,000 None issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par value: Authorized shares-200,000,000 Issued and outstanding shares - 74,749,917 at March 31, 2015 and 77,337,251 at December 31, 2014, stated capital	`CommonStockValue`	$656.60M	USD	Point-in-time
Common stock, no par value: Authorized shares-200,000,000 Issued and outstanding shares - 74,749,917 at March 31, 2015 and 77,337,251 at December 31, 2014, stated capital	`CommonStockValue`	$819.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.33B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.40B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-73.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-48.90M	USD	Point-in-time
Total Reliance shareholders' equity	`StockholdersEquity`	$3.98B	USD	Point-in-time
Total Reliance shareholders' equity	`StockholdersEquity`	$4.10B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$29.90M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$28.90M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.01B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.13B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$7.84B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$7.89B	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$2.61B	USD	1 Quarter
Net sales	`SalesRevenueNet`	$2.55B	USD	1 Quarter
Cost of sales (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServicesSold`	$1.91B	USD	1 Quarter
Cost of sales (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServicesSold`	$1.94B	USD	1 Quarter
Warehouse, delivery, selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$446.10M	USD	1 Quarter
Warehouse, delivery, selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$441.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$55.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$51.90M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.40B	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.45B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$154.30M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$169.30M	USD	1 Quarter
Interest	`InterestExpense`	$20.60M	USD	1 Quarter
Interest	`InterestExpense`	$20.20M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.90M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$150.60M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$134.10M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$47.70M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$46.20M	USD	1 Quarter
Net income	`ProfitLoss`	$87.90M	USD	1 Quarter
Net income	`ProfitLoss`	$102.90M	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$700.00K	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.60M	USD	1 Quarter
Net income attributable to Reliance	`NetIncomeLossAvailableToCommonStockholdersBasic`	$101.30M	USD	1 Quarter
Net income attributable to Reliance	`NetIncomeLossAvailableToCommonStockholdersBasic`	$87.20M	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$1.11	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$1.30	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$1.13	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$1.31	USD	1 Quarter
Cash dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.35	USD	1 Quarter
Cash dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.40	USD	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$87.90M	USD	1 Quarter
Net income	`ProfitLoss`	$102.90M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$55.30M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$51.90M	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-200.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-700.00K	USD	1 Quarter
Gain on sales of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$100.00K	USD	1 Quarter
Gain on sales of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$500.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$3.70M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$4.90M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-1.50M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-1.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$177.60M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$73.60M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$57.60M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$114.60M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-43.90M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-23.10M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$116.90M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$172.10M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$68.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$171.40M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.90M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.30M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-4.10M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$9.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-38.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-27.20M	USD	1 Quarter
Net short-term debt borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$300.00K	USD	1 Quarter
Net short-term debt borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$1.10M	USD	1 Quarter
Proceeds from long-term debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$160.00M	USD	1 Quarter
Proceeds from long-term debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$363.00M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$141.70M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$311.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$31.70M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$27.10M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$8.40M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$6.10M	USD	1 Quarter
Share repurchases	`PaymentsForRepurchaseOfCommonStock`	$-171.20M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.30M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$300.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$200.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-146.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-2.80M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-1.00M	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$30.00M	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-4.60M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$83.60M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$101.60M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$106.20M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$113.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$83.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$101.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$106.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$113.60M	USD	Point-in-time
Interest paid during the period	`InterestPaidNet`	$5.20M	USD	1 Quarter
Interest paid during the period	`InterestPaidNet`	$5.30M	USD	1 Quarter
Income taxes paid during the period, net	`IncomeTaxesPaid`	$23.20M	USD	1 Quarter
Income taxes paid during the period, net	`IncomeTaxesPaid`	$5.30M	USD	1 Quarter

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$87.90M	USD	1 Quarter
Net income	`ProfitLoss`	$102.90M	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-24.90M	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-8.90M	USD	1 Quarter
Unrealized gain on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$100.00K	USD	1 Quarter
Unrealized gain on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$100.00K	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-8.80M	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-24.80M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$78.10M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$79.10M	USD	1 Quarter
Less: comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$1.60M	USD	1 Quarter
Less: comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$700.00K	USD	1 Quarter
Comprehensive income attributable to Reliance	`ComprehensiveIncomeNetOfTax`	$78.40M	USD	1 Quarter
Comprehensive income attributable to Reliance	`ComprehensiveIncomeNetOfTax`	$76.50M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.