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Employee Benefits (Tables) | 12 Months Ended
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Dec. 31, 2020
Employee Benefits |
Summary of benefits payments under the SERPs and Defined Benefit Plans, which reflect expected future employee service, as appropriate, expected to be paid in the future periods | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Defined
​ | SERPs |  | Benefit Plan
​ | ​ | (in millions)
2021 | $ | 0.9 | ​ | $ | 2.0
2022 | ​ | 12.0 | ​ | ​ | 2.3
2023 | ​ | 0.9 | ​ | ​ | 2.5
2024 | ​ | 0.8 | ​ | ​ | 2.7
2025 | ​ | 0.8 | ​ | ​ | 2.9
2026-2030 | ​ | 3.6 | ​ | ​ | 16.7
Schedule of Company's expense for Reliance-sponsored retirement plans | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended December 31,
​ | 2020 |  | 2019 |  | 2018
​ | (in millions)
Master 401(k) Plan | $ | 21.2 | ​ | $ | 22.7 | ​ | $ | 28.1
Other Defined Contribution Plans | ​ | 6.9 | ​ | ​ | 9.6 | ​ | ​ | 9.4
Employee Stock Ownership Plan | ​ | — | ​ | ​ | — | ​ | ​ | 1.9
Deferred Compensation Plan | ​ | (0.3) | ​ | ​ | 5.0 | ​ | ​ | 0.9
Supplemental Executive Retirement Plans | ​ | 10.5 | ​ | ​ | 3.3 | ​ | ​ | 2.9
Defined Benefit Plans | ​ | 14.7 | ​ | ​ | 1.5 | ​ | ​ | 1.8
​ | $ | 53.0 | ​ | $ | 42.1 | ​ | $ | 45.0
SERPs and Defined Benefit Plans |
Employee Benefits |
Summary of the status of the funding of the plans, change in plan assets and items not yet recognized as a component of net periodic pension expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | SERPs | ​ | Defined Benefit Plans
​ | 2020 |  | 2019 |  | 2020 |  | 2019
​ | (in millions) | ​ | (in millions)
Change in benefit obligation: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Benefit obligation at beginning of year | $ | 49.8 | ​ | $ | 37.2 | ​ | $ | 116.2 | ​ | $ | 96.6
Service cost | ​ | 0.9 | ​ | ​ | 0.9 | ​ | ​ | 2.1 | ​ | ​ | 1.6
Interest cost | ​ | 1.0 | ​ | ​ | 1.4 | ​ | ​ | 2.6 | ​ | ​ | 3.8
Actuarial loss | ​ | 3.1 | ​ | ​ | 11.4 | ​ | ​ | 7.9 | ​ | ​ | 15.9
Benefits paid | ​ | (0.9) | ​ | ​ | (1.1) | ​ | ​ | (3.3) | ​ | ​ | (3.9)
Plan amendments | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2.2
Plan settlements | ​ | (16.4) | ​ | ​ | — | ​ | ​ | (49.2) | ​ | ​ | —
Benefit obligation at end of year | $ | 37.5 | ​ | $ | 49.8 | ​ | $ | 76.3 | ​ | $ | 116.2
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Change in plan assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value of plan assets at beginning of year | ​ | N/A | ​ | ​ | N/A | ​ | $ | 107.1 | ​ | $ | 94.9
Actual return on plan assets | ​ | N/A | ​ | ​ | N/A | ​ | ​ | 10.5 | ​ | ​ | 16.1
Employer contributions | ​ | N/A | ​ | ​ | N/A | ​ | ​ | — | ​ | ​ | —
Benefits paid | ​ | N/A | ​ | ​ | N/A | ​ | ​ | (53.0) | ​ | ​ | (3.9)
Other | ​ | N/A | ​ | ​ | N/A | ​ | ​ | (0.7) | ​ | ​ | —
Fair value of plan assets at end of year | ​ | N/A | ​ | ​ | N/A | ​ | $ | 63.9 | ​ | $ | 107.1
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Funded status: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Funded status of the plans | $ | (37.5) | ​ | $ | (49.8) | ​ | $ | (12.4) | ​ | $ | (9.1)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Items not yet recognized as component of net periodic pension expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrecognized net actuarial losses | $ | 14.1 | ​ | $ | 19.6 | ​ | $ | 15.2 | ​ | $ | 27.2
Unamortized prior service cost | ​ | — | ​ | ​ | — | ​ | ​ | 4.0 | ​ | ​ | 4.7
​ | $ | 14.1 | ​ | $ | 19.6 | ​ | $ | 19.2 | ​ | $ | 31.9
Schedule of amounts recognized in the statement of financial position | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | SERPs | ​ | Defined Benefit Plans
​ | 2020 |  | 2019 |  | 2020 |  | 2019
​ | (in millions) | ​ | (in millions)
Amounts recognized in the statement of financial position: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | $ | (0.9) | ​ | $ | (17.5) | ​ | $ | — | ​ | $ | —
Noncurrent liabilities | ​ | (36.6) | ​ | ​ | (32.3) | ​ | ​ | (12.4) | ​ | ​ | (9.1)
Accumulated other comprehensive loss | ​ | 14.1 | ​ | ​ | 19.6 | ​ | ​ | 19.2 | ​ | ​ | 31.9
Net amount recognized | $ | (23.4) | ​ | $ | (30.2) | ​ | $ | 6.8 | ​ | $ | 22.8
Schedule of details of net periodic pension expense | Following are the details of net periodic benefit cost related to the SERPs and Defined Benefit Plans: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | SERPs | ​ | Defined Benefit Plans
​ | Year Ended December 31, | ​ | Year Ended December 31,
​ | 2020 |  | 2019 |  | 2018 |  | 2020 |  | 2019 |  | 2018
​ | (in millions) | ​ | (in millions)
Service cost | $ | 0.9 | ​ | $ | 0.9 | ​ | $ | 0.9 | ​ | $ | 2.1 | ​ | $ | 1.6 | ​ | $ | 1.7
Interest cost | ​ | 1.0 | ​ | ​ | 1.4 | ​ | ​ | 1.1 | ​ | ​ | 2.6 | ​ | ​ | 3.8 | ​ | ​ | 3.5
Expected return on plan assets | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (4.4) | ​ | ​ | (5.6) | ​ | ​ | (5.1)
Settlement loss | ​ | 6.7 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 12.7 | ​ | ​ | — | ​ | ​ | —
Prior service cost | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 0.6 | ​ | ​ | 0.4 | ​ | ​ | 0.3
Amortization of net loss | ​ | 1.9 | ​ | ​ | 1.0 | ​ | ​ | 0.9 | ​ | ​ | 1.1 | ​ | ​ | 1.3 | ​ | ​ | 1.4
​ | $ | 10.5 | ​ | $ | 3.3 | ​ | $ | 2.9 | ​ | $ | 14.7 | ​ | $ | 1.5 | ​ | $ | 1.8
​ Net periodic benefit cost related to the SERPs and Defined Benefit Plans is presented in our consolidated statements of income, as summarized below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | SERPs | ​ | Defined Benefit Plans
​ | Year Ended December 31, | ​ | Year Ended December 31,
​ | 2020 |  | 2019 |  | 2018 |  | 2020 |  | 2019 |  | 2018
​ | (in millions) | ​ | (in millions)
Amounts recognized in the statement of income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Warehouse, delivery, selling, general and administrative expense | $ | 0.9 | ​ | $ | 0.9 | ​ | $ | 0.9 | ​ | $ | 2.1 | ​ | $ | 1.6 | ​ | $ | 1.7
Other expense (income), net | ​ | 9.6 | ​ | ​ | 2.4 | ​ | ​ | 2.0 | ​ | ​ | 12.6 | ​ | ​ | (0.1) | ​ | ​ | 0.1
​ | $ | 10.5 | ​ | $ | 3.3 | ​ | $ | 2.9 | ​ | $ | 14.7 | ​ | $ | 1.5 | ​ | $ | 1.8
Schedule of assumptions used to determine net periodic benefit cost | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | SERPs | ​ | Defined Benefit Plans | ​
​ | Year Ended December 31, | ​ | Year Ended December 31, | ​
​ | 2020 |  | 2019 |  | 2018 |  | 2020 |  | 2019 |  | 2018 |
Weighted average assumptions to determine net cost: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Discount rate | 2.63 | % | 3.81 | % | 3.04 | % | 2.85 | % | 4.06 | % | 3.47 | %
Expected long-term rate of return on plan assets | N/A | ​ | N/A | ​ | N/A | ​ | 6.25 | % | 6.09 | % | 5.66 | %
Rate of compensation increase | 6.00 | % | 6.00 | % | 6.00 | % | N/A | ​ | N/A | ​ | N/A | ​
Schedule of assumptions used to determine the benefit obligation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | SERPs | ​ | Defined Benefit Plans | ​
​ | December 31, | ​ | December 31, | ​
​ | 2020 |  | 2019 |  | 2020 |  | 2019 |
Weighted average assumptions to determine benefit obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Discount rate | 1.60 | % | 2.63 | % | 2.40 | % | 2.59 | %
Expected long-term rate of return on plan assets | N/A | ​ | N/A | ​ | 6.25 | % | 6.09 | %
Rate of compensation increase | 6.00 | % | 6.00 | % | N/A | ​ | N/A | ​
Defined Benefit Plans |
Employee Benefits |
Schedule of information for defined benefit plans with an accumulated benefit obligation and projected benefit obligation in excess of plan assets | ​
​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended December 31,
​ | 2020 |  | 2019
​ | (in millions)
Information for defined benefit plans with an accumulated benefit obligation and projected benefit obligation in excess of plan assets: | ​ | ​ | ​ | ​ | ​
Accumulated benefit obligation | $ | 76.3 | ​ | $ | 116.2
Projected benefit obligation | ​ | 76.3 | ​ | ​ | 116.2
Fair value of plan assets | ​ | 63.9 | ​ | ​ | 107.1
Schedule of weighted-average asset allocations of the Company's Defined Benefit Plans by asset category | ​
​ | ​ | ​ | ​ | ​
​ | December 31, | ​
​ | 2020 |  | 2019 | ​
Plan Assets | ​ | ​ | ​ | ​
Equity securities | 62 | % | 33 | %
Debt securities | 32 | % | 60 | %
Cash and cash equivalents | 6 | % | 7 | %
Total | 100 | % | 100 | %
Schedule of fair value measurements of Defined Benefit Plans assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Level 1 |  | Level 2 |  | Level 3 |  | Total
​ | (in millions)
December 31, 2020: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Common stock(1) | $ | 30.6 | ​ | $ | — | ​ | $ | — | ​ | $ | 30.6
U.S. government, state and agency | ​ | — | ​ | ​ | 7.4 | ​ | ​ | — | ​ | ​ | 7.4
Corporate debt securities(2) | ​ | — | ​ | ​ | 3.9 | ​ | ​ | — | ​ | ​ | 3.9
Mutual funds(3) | ​ | 18.4 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 18.4
Interest and non-interest bearing cash | ​ | 3.6 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3.6
Total investments at fair value | $ | 52.6 | ​ | $ | 11.3 | ​ | $ | — | ​ | $ | 63.9
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2019: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Common stock(1) | $ | 25.1 | ​ | $ | — | ​ | $ | — | ​ | $ | 25.1
U.S. government, state and agency | ​ | — | ​ | ​ | 9.3 | ​ | ​ | — | ​ | ​ | 9.3
Corporate debt securities(2) | ​ | — | ​ | ​ | 3.6 | ​ | ​ | — | ​ | ​ | 3.6
Mutual funds(3) | ​ | 59.4 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 59.4
Interest and non-interest bearing cash | ​ | 7.3 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 7.3
Total investments in the fair value hierarchy | ​ | 91.8 | ​ | ​ | 12.9 | ​ | ​ | — | ​ | ​ | 104.7
Investments measured at net asset value ("NAV")(4) | ` | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2.4
Total investments at fair value | $ | 91.8 | ​ | $ | 12.9 | ​ | $ | — | ​ | $ | 107.1
(1) | Comprised primarily of securities of large domestic and foreign companies. Valued at the closing price reported on the active market on which the individual securities are traded.
​
(2) | Valued using a combination of inputs including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data.
​
(3) | Level 1 assets are comprised of exchange traded funds, money market funds, and stock and bond funds. These assets are valued at closing price for exchange traded funds and NAV for open-end and closed-end mutual funds.
​
(4) | Certain investments, including common collective trusts, are measured at fair value using the NAV practical expedient. The fair value of these investments is excluded from the fair value hierarchy and are presented in the tables above to permit reconciliation of the investments classified within the fair value hierarchy to the total investments at fair value.

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- Definition Tabular disclosure of net funded status of pension plans and/or other employee benefit plans. May include a reconciliation of beginning and ending balances of the change in the benefit obligation of pension plans and/or other employee benefit plans, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. May include a reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. Also may include disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References No definition available. + Details
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