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Acquisitions | 9 Months Ended
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Sep. 30, 2022
Acquisitions |
Acquisitions | Note 2. Acquisitions ​ 2021 Acquisitions ​ In the fourth quarter of 2021, we acquired each of Merfish United, Inc., Admiral Metals Servicenter Company, Incorporated, Nu-Tech Precision Metals Inc. and Rotax Metals Inc. with cash on hand. Included in our net sales for the nine months ended September 30, 2022 were combined net sales of $681.7 million from our 2021 acquisitions. ​ ​ The preliminary allocations of the total purchase for our 2021 acquisitions to the fair values of the assets acquired and liabilities assumed were as follows: ​
​ | ​ | ​
​ | (in millions)
Cash | $ | 1.0
Accounts receivable | ​ | 107.2
Inventories | ​ | 134.4
Property, plant and equipment | ​ | 33.6
Operating lease right-of-use assets | ​ | 29.8
Goodwill | ​ | 177.0
Intangible assets subject to amortization | ​ | 116.3
Intangible assets not subject to amortization | ​ | 51.2
Other current and long-term assets | ​ | 4.0
Total assets acquired | ​ | 654.5
Deferred taxes | ​ | 49.3
Operating lease liabilities | ​ | 24.6
Other current and long-term liabilities | ​ | 140.3
Total liabilities assumed | ​ | 214.2
Net assets acquired | $ | 440.3
​ The completion of the purchase price allocations for our 2021 acquisitions are pending the completion of pre-acquisition period tax returns. ​ Pro forma financial information for all acquisitions ​ The pro forma summary financial results present the consolidated results of operations as if our 2021 acquisitions had occurred as of January 1, 2021, after the effect of certain adjustments, including depreciation and amortization of certain identifiable property, plant and equipment and intangible assets, and lease cost fair value adjustments. ​ The pro forma results have been presented for comparative purposes only and are not indicative of what would have occurred had the 2021 acquisitions been made as of January 1, 2021, or of any potential results which may occur in the future. ​
​ | ​ | ​ | ​ | ​ | ​
​ | Three Months Ended | ​ | Nine Months Ended
​ | September 30, 2021 |  | September 30, 2021
​ | (in millions, except per share amounts)
Pro forma: | ​ | ​ | ​ | ​ | ​
Net sales | $ | 4,100.8 | ​ | $ | 10,780.4
Net income attributable to Reliance | $ | 435.5 | ​ | $ | 1,091.2
Earnings per share attributable to Reliance stockholders: | ​ | ​ | ​ | ​ | ​
Basic | $ | 6.88 | ​ | $ | 17.18
Diluted | $ | 6.77 | ​ | $ | 16.89
​

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