XML 58 R45.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Quarterly Financial Information (Unaudited) |
Summary of the unaudited quarterly results of operations |
| March 31, |  | June 30, |  | September 30, |  | December 31,
| (in millions, except per share amounts)
2018: |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 2,757.1 |  | $ | 2,988.9 |  | $ | 2,974.5 |  | $ | 2,814.0
Cost of sales |  | 1,937.2 |  |  | 2,071.4 |  |  | 2,140.2 |  |  | 2,104.2
Gross profit(1) |  | 819.9 |  |  | 917.5 |  |  | 834.3 |  |  | 709.8
Net income |  | 171.1 |  |  | 233.1 |  |  | 150.3 |  |  | 87.3
Net income attributable to Reliance |  | 169.0 |  |  | 230.8 |  |  | 148.3 |  |  | 85.6
Earnings per share attributable to Reliance stockholders: |  |  |  |  |  |  |  |  |  |  |
Diluted |  | 2.30 |  |  | 3.16 |  |  | 2.03 |  |  | 1.22
Basic |  | 2.32 |  |  | 3.19 |  |  | 2.06 |  |  | 1.23
2017: |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 2,419.3 |  | $ | 2,475.2 |  | $ | 2,450.1 |  | $ | 2,376.4
Cost of sales |  | 1,697.7 |  |  | 1,773.1 |  |  | 1,764.6 |  |  | 1,697.8
Gross profit(1) |  | 721.6 |  |  | 702.1 |  |  | 685.5 |  |  | 678.6
Net income |  | 113.4 |  |  | 104.8 |  |  | 99.0 |  |  | 303.8
Net income attributable to Reliance |  | 111.7 |  |  | 103.0 |  |  | 97.3 |  |  | 301.4
Earnings per share attributable to Reliance stockholders: |  |  |  |  |  |  |  |  |  |  |
Diluted |  | 1.52 |  |  | 1.40 |  |  | 1.32 |  |  | 4.09
Basic |  | 1.53 |  |  | 1.41 |  |  | 1.33 |  |  | 4.14
| (1) |  | Gross profit, calculated as net sales less cost of sales, is a non‑GAAP financial measure as it excludes depreciation and amortization expense associated with the corresponding sales. About half of our orders are basic distribution with no processing services performed. For the remainder of our sales orders, we perform “first‑stage” processing, which is generally not labor intensive as we are simply cutting the metal to size. Because of this, the amount of related labor and overhead, including depreciation and amortization, is not significant and is excluded from our cost of sales. Therefore, our cost of sales is substantially comprised of the cost of the material we sell. We use gross profit as shown above as a measure of operating performance. Gross profit is an important operating and financial measure, as fluctuations in gross profit can have a significant impact on our earnings. Gross profit, as presented, is not necessarily comparable with similarly titled measures for other companies.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=84173487&loc=d3e1280-108306 + Details
Name: | us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration