10-Q Filing

RELIANCE, INC. CIK: 861884 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001558370-16-005071`
Period End Date	20160331
Filing Date	20160502
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	rs-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 32 Cash Flow Statement 60 Comprehensive Income 13

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$17.20M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$16.30M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$106.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$101.60M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$120.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$104.30M	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $17.2 at March 31, 2016 and $16.3 at December 31, 2015	`AccountsReceivableNetCurrent`	$916.60M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $17.2 at March 31, 2016 and $16.3 at December 31, 2015	`AccountsReceivableNetCurrent`	$1.01B	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$1.44B	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$1.53B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$55.40M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$60.80M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$36.50M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$29.30M	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
Total current assets	`AssetsCurrent`	$2.74B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.55B	USD	Point-in-time
Common stock, Issued shares	`CommonStockSharesIssued`	71.74M	shares	Point-in-time
Common stock, Issued shares	`CommonStockSharesIssued`	72.22M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	71.74M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	72.22M	shares	Point-in-time
Land	`Land`	$202.70M	USD	Point-in-time
Land	`Land`	$196.20M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$1.03B	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$1.01B	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.62B	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.57B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.18B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.14B	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentNet`	$1.64B	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentNet`	$1.67B	USD	Point-in-time
Goodwill	`Goodwill`	$1.82B	USD	Point-in-time
Goodwill	`Goodwill`	$1.72B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.13B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.21B	USD	Point-in-time
Cash surrender value of life insurance policies, net	`CashSurrenderValueOfLifeInsurance`	$45.80M	USD	Point-in-time
Cash surrender value of life insurance policies, net	`CashSurrenderValueOfLifeInsurance`	$42.20M	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$35.90M	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$35.90M	USD	Point-in-time
Total assets	`Assets`	$7.52B	USD	Point-in-time
Total assets	`Assets`	$7.12B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$247.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$350.40M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$94.70M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$83.00M	USD	Point-in-time
Accrued compensation and retirement costs	`EmployeeRelatedLiabilitiesCurrent`	$118.70M	USD	Point-in-time
Accrued compensation and retirement costs	`EmployeeRelatedLiabilitiesCurrent`	$91.00M	USD	Point-in-time
Accrued insurance costs	`AccruedInsuranceCurrent`	$41.50M	USD	Point-in-time
Accrued insurance costs	`AccruedInsuranceCurrent`	$40.20M	USD	Point-in-time
Current maturities of long-term debt and short-term borrowings	`DebtCurrent`	$493.80M	USD	Point-in-time
Current maturities of long-term debt and short-term borrowings	`DebtCurrent`	$500.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.07B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$989.70M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.43B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.64B	USD	Point-in-time
Long-term retirement costs	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$103.80M	USD	Point-in-time
Long-term retirement costs	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$107.20M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$30.20M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$30.40M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$627.10M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$630.00M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock and additional paid-in capital, $0.001 par value: Authorized shares 200,000,000 Issued and outstanding shares 72,222,793 at March 31, 2016 and 71,739,072 at December 31, 2015	`CommonStocksIncludingAdditionalPaidInCapital`	$553.40M	USD	Point-in-time
Common stock and additional paid-in capital, $0.001 par value: Authorized shares 200,000,000 Issued and outstanding shares 72,222,793 at March 31, 2016 and 71,739,072 at December 31, 2015	`CommonStocksIncludingAdditionalPaidInCapital`	$533.80M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.54B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.48B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-84.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-99.70M	USD	Point-in-time
Total Reliance stockholders' equity	`StockholdersEquity`	$3.91B	USD	Point-in-time
Total Reliance stockholders' equity	`StockholdersEquity`	$4.01B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$28.40M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$28.60M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.94B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.04B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$7.52B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$7.12B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$2.61B	USD	1 Quarter
Net sales	`SalesRevenueNet`	$2.16B	USD	1 Quarter
Cost of sales (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServicesSold`	$1.94B	USD	1 Quarter
Cost of sales (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServicesSold`	$1.53B	USD	1 Quarter
Warehouse, delivery, selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$446.10M	USD	1 Quarter
Warehouse, delivery, selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$450.80M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$56.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$55.30M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.45B	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.03B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$129.80M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$169.30M	USD	1 Quarter
Interest	`InterestExpense`	$21.70M	USD	1 Quarter
Interest	`InterestExpense`	$20.60M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.90M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$109.20M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$150.60M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$47.70M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$15.70M	USD	1 Quarter
Net income	`ProfitLoss`	$102.90M	USD	1 Quarter
Net income	`ProfitLoss`	$93.50M	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.30M	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.60M	USD	1 Quarter
Net income attributable to Reliance	`NetIncomeLossAvailableToCommonStockholdersBasic`	$92.20M	USD	1 Quarter
Net income attributable to Reliance	`NetIncomeLossAvailableToCommonStockholdersBasic`	$101.30M	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$1.30	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$1.27	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$1.28	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`	$0.40	USD	1 Quarter
Cash dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.40	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$102.90M	USD	1 Quarter
Net income	`ProfitLoss`	$93.50M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$56.10M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$55.30M	USD	1 Quarter
Deferred income tax provision (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-200.00K	USD	1 Quarter
Deferred income tax provision (benefit)	`DeferredIncomeTaxExpenseBenefit`	$2.30M	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
Stock-based compensation expense	`ShareBasedCompensation`	$3.30M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.70M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-1.00M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-1.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$73.60M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$80.30M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$29.30M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$57.60M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-17.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-23.10M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$92.30M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$116.90M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$171.40M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$155.40M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.40M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.30M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$290.90M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$6.20M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-4.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-27.20M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-331.50M	USD	1 Quarter
Net short-term debt (repayments) borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$1.10M	USD	1 Quarter
Net short-term debt (repayments) borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-6.20M	USD	1 Quarter
Proceeds from long-term debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$399.00M	USD	1 Quarter
Proceeds from long-term debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$363.00M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$311.00M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$188.00M	USD	1 Quarter
Dividends and dividend equivalents paid	`PaymentsOfOrdinaryDividendsCommonStockAndDividendEquivalents`	$31.70M	USD	1 Quarter
Dividends and dividend equivalents paid	`PaymentsOfOrdinaryDividendsCommonStockAndDividendEquivalents`	$29.00M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$6.10M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$16.50M	USD	1 Quarter
Share repurchases	`PaymentsForRepurchaseOfCommonStock`	$171.20M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.60M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.30M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$189.70M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-146.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$2.60M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-2.80M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$16.20M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.60M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$106.20M	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`	$120.50M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$104.30M	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`	$101.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$120.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$104.30M	USD	Point-in-time
Interest paid during the period	`InterestPaid`	$5.30M	USD	1 Quarter
Interest paid during the period	`InterestPaid`	$5.10M	USD	1 Quarter
Income taxes paid during the period, net	`IncomeTaxesPaidNet`	$5.70M	USD	1 Quarter
Income taxes paid during the period, net	`IncomeTaxesPaidNet`	$23.20M	USD	1 Quarter

Comprehensive Income 13 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$102.90M	USD	1 Quarter
Net income	`ProfitLoss`	$93.50M	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$15.70M	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-24.90M	USD	1 Quarter
Unrealized gain on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$100.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$15.70M	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-24.80M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$109.20M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$78.10M	USD	1 Quarter
Less: comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$1.60M	USD	1 Quarter
Less: comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$1.30M	USD	1 Quarter
Comprehensive income attributable to Reliance	`ComprehensiveIncomeNetOfTax`	$76.50M	USD	1 Quarter
Comprehensive income attributable to Reliance	`ComprehensiveIncomeNetOfTax`	$107.90M	USD	1 Quarter

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