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Note 11 - Segment Information | 6 Months Ended
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Jun. 30, 2015
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | 11. Segment Information: The Company follows the accounting guidance that requires the utilization of a “management approach” to define and report the financial results of operating segments. The management approach defines operating segments along the lines used by the Company’s chief operating decision maker (CODM) to assess performance and make operating and resource allocation decisions. Our CODM evaluates performance and allocates resources based primarily on operating income (loss). Our operating segments are based primarily on internal management reporting. Commencing with the first quarter of 2015, the flat products segment has been separated into two reportable segments; carbon flat products and specialty metals flat products. The flat products segments’ assets and resources are shared by the carbon and specialty metals segments and both segments’ products are stored in the shared facilities and processed on the shared equipment. As such, total assets and capital expenditures are reported in the aggregate for the flat products segments. Due to the shared assets and resources, certain of the flat products segment expenses are allocated between the carbon flat products segment and the specialty metals flat products segment based upon an established allocation methodology. Prior year financial information has been recast to reflect the new segment reporting structure. The Company now operates in three reportable segments; carbon flat products, specialty metals flat products, and tubular and pipe products. Through its carbon flat products segment, the Company sells and distributes large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts. Through its specialty metals flat products segment, the Company sells and distributes processed aluminum and stainless flat-rolled sheet and coil products, flat bar products and fabricated parts. Through its tubular and pipe products segment, the Company distributes metal tubing, pipe, bar, valve and fittings and fabricates pressure parts supplied to various industrial markets. Corporate expenses are reported as a separate line item for segment reporting purposes. Corporate expenses include the unallocated expenses related to managing the entire Company (i.e., all three segments), including payroll expenses for certain personnel, expenses related to being a publicly traded entity such as board of directors expenses, audit expenses, and various other professional fees. The following table provides financial information by segment and reconciles the Company’s operating income by segment to the consolidated income before income taxes for the three and six months ended June 30, 2015 and 2014.
|  | For the Three Months Ended |  |  | For the Six Months Ended |
|  | June 30, |  |  | June 30, |
(in thousands) |  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carbon flat products |  | $ | 209,207 |  |  | $ | 263,209 |  |  | $ | 437,752 |  |  | $ | 502,924 |
Specialty metals flat products |  |  | 52,715 |  |  |  | 56,996 |  |  |  | 105,346 |  |  |  | 103,134 |
Tubular and pipe products |  |  | 53,329 |  |  |  | 65,842 |  |  |  | 118,018 |  |  |  | 126,902 |
Total net sales |  | $ | 315,251 |  |  | $ | 386,047 |  |  | $ | 661,116 |  |  | $ | 732,960 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carbon flat products |  | $ | 3,147 |  |  | $ | 4,023 |  |  | $ | 6,308 |  |  | $ | 8,047 |
Specialty metals flat products |  |  | 190 |  |  |  | 207 |  |  |  | 350 |  |  |  | 402 |
Tubular and pipe products |  |  | 1,488 |  |  |  | 1,432 |  |  |  | 2,953 |  |  |  | 2,866 |
Corporate |  |  | 25 |  |  |  | 25 |  |  |  | 51 |  |  |  | 50 |
Total depreciation and amortization |  | $ | 4,850 |  |  | $ | 5,687 |  |  | $ | 9,662 |  |  | $ | 11,365 |
Operating income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carbon flat products |  | $ | (602 | ) |  | $ | 5,513 |  |  | $ | (251 | ) |  | $ | 8,919 |
Specialty metals flat products |  |  | (270 | ) |  |  | 902 |  |  |  | 440 |  |  |  | 2,344 |
Tubular and pipe products |  |  | 2,504 |  |  |  | 2,853 |  |  |  | 6,758 |  |  |  | 6,290 |
Corporate expenses |  |  | (1,579 | ) |  |  | (2,160 | ) |  |  | (3,549 | ) |  |  | (4,216 | )
Goodwill and intangible asset impairment (a) |  |  | (24,451 | ) |  |  | - |  |  |  | (24,451 | ) |  |  | - |
Total operating income (loss) |  | $ | (24,398 | ) |  | $ | 7,108 |  |  | $ | (21,053 | ) |  | $ | 13,337 |
Other income (loss), net |  |  | (26 | ) |  |  | (4 | ) |  |  | (58 | ) |  |  | (2 | )
Income (loss) before interest and income taxes |  |  | (24,424 | ) |  |  | 7,104 |  |  |  | (21,111 | ) |  |  | 13,335 |
Interest and other expense on debt |  |  | 1,471 |  |  |  | 1,779 |  |  |  | 3,033 |  |  |  | 3,532 |
Income (loss) before income taxes |  | $ | (25,895 | ) |  | $ | 5,325 |  |  | $ | (24,144 | ) |  | $ | 9,803 |
(a) The goodwill and intangible asset impairments relate to the Company's tubular and pipe products segment. |  |
|  | For the Three Months Ended |  |  | For the Six Months Ended |
|  | June 30, |  |  | June 30, |
(in thousands) |  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Flat products segments |  | $ | 918 |  |  | $ | 2,214 |  |  | $ | 2,106 |  |  | $ | 3,230 |
Tubular and pipe products |  |  | 1,624 |  |  |  | 552 |  |  |  | 2,127 |  |  |  | 1,873 |
Corporate |  |  | - |  |  |  | 17 |  |  |  | - |  |  |  | 21 |
Total capital expenditures |  | $ | 2,542 |  |  | $ | 2,783 |  |  | $ | 4,233 |  |  | $ | 5,124 |
|  | As of |
|  | June 30, |  |  | December 31, |
(in thousands) |  | 2015 |  |  | 2014 |
Goodwill |  |  |  |  |  |  |  |
Flat products segments |  | $ | 500 |  |  | $ | 500 |
Tubular and pipe products |  |  | - |  |  |  | 16,451 |
Total goodwill |  | $ | 500 |  |  | $ | 16,951 |
Assets |  |  |  |  |  |  |  |
Flat products segments |  | $ | 430,037 |  |  | $ | 496,253 |
Tubular and pipe products |  |  | 181,796 |  |  |  | 203,937 |
Corporate |  |  | 507 |  |  |  | 558 |
Total assets |  | $ | 612,340 |  |  | $ | 700,748 |
There were no material revenue transactions between the carbon flat products, specialty metals products, and tubular and pipe products segments. The Company sells certain products internationally, primarily in Canada, Puerto Rico and Mexico. International sales are immaterial to the consolidated financial results and to the individual segments’ results.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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