10-Q Filing

RELIANCE, INC. CIK: 861884 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0001193125-11-130669`
Period End Date	20110331
Filing Date	20110506
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	rs-20110331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 92 Income Statement 32 Cash Flow Statement 63

Balance Sheet 92 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$20.10M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$17.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$43.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$52.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$76.80M	USD	Point-in-time
Preferred stock, no par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, no par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $20.1 at March 31, 2011 and $17.2 at December 31, 2010	`AccountsReceivableNetCurrent`	$913.50M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $20.1 at March 31, 2011 and $17.2 at December 31, 2010	`AccountsReceivableNetCurrent`	$697.00M	USD	Point-in-time
Preferred stock, Authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, Authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$1.09B	USD	Point-in-time
Inventories	`InventoryNet`	$860.20M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$42.50M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$36.40M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$28.30M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, Authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.12B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.70B	USD	Point-in-time
Common stock, Authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	74.73M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	74.64M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	74.73M	shares	Point-in-time
Land	`Land`	$137.10M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	74.64M	shares	Point-in-time
Land	`Land`	$139.40M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$594.30M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$613.50M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$898.10M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$909.30M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$626.10M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$604.20M	USD	Point-in-time
Property, plant and equipment, total	`PropertyPlantAndEquipmentNet`	$1.03B	USD	Point-in-time
Property, plant and equipment, total	`PropertyPlantAndEquipmentNet`	$1.04B	USD	Point-in-time
Goodwill	`Goodwill`	$1.11B	USD	Point-in-time
Goodwill	`Goodwill`	$1.11B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$755.80M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$749.40M	USD	Point-in-time
Cash surrender value of life insurance policies, net	`CashSurrenderValueOfLifeInsurance`	$40.30M	USD	Point-in-time
Cash surrender value of life insurance policies, net	`CashSurrenderValueOfLifeInsurance`	$42.00M	USD	Point-in-time
Investments in unconsolidated entities	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$18.10M	USD	Point-in-time
Investments in unconsolidated entities	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$18.30M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.00M	USD	Point-in-time
Total assets	`Assets`	$5.09B	USD	Point-in-time
Total assets	`Assets`	$4.67B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$245.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$405.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$45.70M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$56.80M	USD	Point-in-time
Accrued compensation and retirement costs	`EmployeeRelatedLiabilitiesCurrent`	$69.50M	USD	Point-in-time
Accrued compensation and retirement costs	`EmployeeRelatedLiabilitiesCurrent`	$85.10M	USD	Point-in-time
Accrued insurance costs	`AccruedInsuranceCurrent`	$38.90M	USD	Point-in-time
Accrued insurance costs	`AccruedInsuranceCurrent`	$37.00M	USD	Point-in-time
Current maturities of long-term debt and short-term borrowings	`DebtCurrent`	$86.20M	USD	Point-in-time
Current maturities of long-term debt and short-term borrowings	`DebtCurrent`	$96.90M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$18.80M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$9.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$9.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$508.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$695.60M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$855.10M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$990.50M	USD	Point-in-time
Long-term retirement costs	`LongTermRetirementCosts`	$74.70M	USD	Point-in-time
Long-term retirement costs	`LongTermRetirementCosts`	$74.20M	USD	Point-in-time
Other long-term liabilities	`OtherNoncurrentLiabilities`	$27.80M	USD	Point-in-time
Other long-term liabilities	`OtherNoncurrentLiabilities`	$27.40M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$372.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$372.60M	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 - 100,000,000 Issued and outstanding shares - 74,733,404 at March 31, 2011 and 74,639,223 at December 31, 2010, stated capital	`CommonStockValue`	$624.70M	USD	Point-in-time
Common stock, no par value: Authorized shares - 100,000,000 Issued and outstanding shares - 74,733,404 at March 31, 2011 and 74,639,223 at December 31, 2010, stated capital	`CommonStockValue`	$633.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.27B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.19B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$10.30M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$17.00M	USD	Point-in-time
Total Reliance shareholders' equity	`StockholdersEquity`	$2.92B	USD	Point-in-time
Total Reliance shareholders' equity	`StockholdersEquity`	$2.82B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$6.90M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$6.40M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.93B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.83B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$5.09B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$4.67B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.45B	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.91B	USD	1 Quarter
Cost of sales (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServicesSold`	$1.08B	USD	1 Quarter
Cost of sales (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServicesSold`	$1.41B	USD	1 Quarter
Warehouse, delivery, selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$318.50M	USD	1 Quarter
Warehouse, delivery, selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$269.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$29.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$33.00M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$1.76B	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$1.37B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$79.80M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$154.80M	USD	1 Quarter
Interest	`InterestExpense`	$14.60M	USD	1 Quarter
Interest	`InterestExpense`	$15.10M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.10M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$200.00K	USD	1 Quarter
Income before income taxes	`IncomeBeforeIncomeTaxes`	$65.80M	USD	1 Quarter
Income before income taxes	`IncomeBeforeIncomeTaxes`	$140.40M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$46.80M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$20.80M	USD	1 Quarter
Net income	`ProfitLoss`	$45.00M	USD	1 Quarter
Net income	`ProfitLoss`	$93.60M	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$300.00K	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.30M	USD	1 Quarter
Net income attributable to Reliance	`NetIncomeLoss`	$44.70M	USD	1 Quarter
Net income attributable to Reliance	`NetIncomeLoss`	$92.30M	USD	1 Quarter
Diluted earnings per common share attributable to Reliance shareholders	`EarningsPerShareDiluted`	$1.23	USD	1 Quarter
Diluted earnings per common share attributable to Reliance shareholders	`EarningsPerShareDiluted`	$0.60	USD	1 Quarter
Basic earnings per common share attributable to Reliance shareholders	`EarningsPerShareBasic`	$1.24	USD	1 Quarter
Basic earnings per common share attributable to Reliance shareholders	`EarningsPerShareBasic`	$0.60	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.12	USD	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$45.00M	USD	1 Quarter
Net income	`ProfitLoss`	$93.60M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$29.10M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$33.00M	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-500.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-1.20M	USD	1 Quarter
Loss on sales of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-100.00K	USD	1 Quarter
Equity in earnings of unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$700.00K	USD	1 Quarter
Equity in earnings of unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$700.00K	USD	1 Quarter
Dividends received from unconsolidated entities	`EquityMethodInvestmentDividendsOrDistributions`	$300.00K	USD	1 Quarter
Dividends received from unconsolidated entities	`EquityMethodInvestmentDividendsOrDistributions`	$300.00K	USD	1 Quarter
Share based compensation expense	`ShareBasedCompensation`	$3.70M	USD	1 Quarter
Share based compensation expense	`ShareBasedCompensation`	$4.80M	USD	1 Quarter
Excess tax benefit from share based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$2.30M	USD	1 Quarter
Net loss from life insurance policies	`NetGainLossFromLifeInsurancePolicies`	$-1.60M	USD	1 Quarter
Net loss from life insurance policies	`NetGainLossFromLifeInsurancePolicies`	$-600.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$157.60M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$215.10M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$228.20M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$125.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-22.70M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-34.60M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$175.90M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$130.30M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-101.40M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-54.30M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.10M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$35.80M	USD	1 Quarter
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$700.00K	USD	1 Quarter
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$900.00K	USD	1 Quarter
Net proceeds from redemption of life insurance policies	`PaymentsForProceedsFromLifeInsurancePolicies`	$-1.80M	USD	1 Quarter
Net proceeds from redemption of life insurance policies	`PaymentsForProceedsFromLifeInsurancePolicies`	$-100.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.60M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.80M	USD	1 Quarter
Net short-term debt borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$400.00K	USD	1 Quarter
Proceeds from long-term debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$150.10M	USD	1 Quarter
Proceeds from long-term debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$197.00M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$52.00M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$71.20M	USD	1 Quarter
Payments to noncontrolling interest holders	`PaymentsOfDividendsMinorityInterest`	$800.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$9.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$7.40M	USD	1 Quarter
Excess tax benefit from share based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.30M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$8.80M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.90M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$83.00M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$139.10M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.20M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.00M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.90M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.30M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$72.90M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$43.00M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$52.30M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$76.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$72.90M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$43.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$52.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$76.80M	USD	Point-in-time
Interest paid during the period	`InterestPaidNet`	$2.90M	USD	1 Quarter
Interest paid during the period	`InterestPaidNet`	$2.10M	USD	1 Quarter
Income taxes paid during the period	`IncomeTaxesPaid`	$4.20M	USD	1 Quarter
Income taxes paid during the period	`IncomeTaxesPaid`	$1.70M	USD	1 Quarter

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