Segment Information (Tables)

3 Months Ended

Mar. 31, 2012

Segment Information

Schedule of operating segment results

For the three months ended			Metals Recycling/			Steel Fabrication
March 31, 2012	Steel Operations		Ferrous Resources			Operations			Other			Eliminations			Consolidated
Net Sales
External	$	1,135,912	$	634,134		$	74,892		$	20,732		$	—		$	1,865,670
External Non-U.S.	50,808		65,466			—			96			—			116,370
Other segments	47,759		411,520			4			3,262			(462,545		)	—
	1,234,479		1,111,120			74,896			24,090			(462,545		)	1,982,040
Operating income (loss)	137,308		4,163			(2,668		)	(16,862		)(1)	(2,125		)(2)	119,816
Income (loss) before income taxes	119,078		(4,273		)	(4,184		)	(40,040		)	(2,125		)	68,456
Depreciation and amortization	26,084		26,074			1,848			1,617			(51		)	55,572
Capital expenditures	5,948		37,906			1,168			533			—			45,555
As of March 31, 2012
Assets	2,677,623		2,610,476			231,284			712,673		(3)	(188,429		)(4)	6,043,627
Liabilities	494,177		574,598			14,542			2,732,432		(5)	(178,607		)(6)	3,637,142

Footnotes related to the three months ended March 31, 2012 segment results (in millions):

(1)	Corporate SG&A	$	(7.6	)
	Company-wide stock option expense	(3.7		)
	Profit sharing	(6.5		)
	Other, net	0.9
		$	(16.9	)

(2) Gross profit reduction from intra-company sales $ (2.1 )

(3)	Cash and equivalents	$	278.2
	Investments in short-term commercial paper	65.0
	Income taxes receivable	2.8
	Deferred income taxes	26.1
	Property, plant and equipment, net	84.6
	Debt issuance costs, net	24.0
	Intra-company debt	149.6
	Other	82.4
		$	712.7

(4)	Elimination of intra-company receivables	$	(27.9	)
	Elimination of intra-company debt	(149.6		)
	Other	(10.9		)
		$	(188.4	)

(5)	Accounts payable	$	29.2
	Income taxes payable	14.6
	Accrued interest	54.5
	Accrued profit sharing	6.6
	Debt	2,333.6
	Deferred income taxes	213.1
	Other	80.8
		$	2,732.4

(6)	Elimination of intra-company payables	$	(27.9	)
	Elimination of intra-company debt	(149.6		)
	Other	(1.1		)
		$	(178.6	)

For the three months ended			Metals Recycling/		Steel Fabrication
March 31, 2011	Steel Operations		Ferrous Resources		Operations			Other			Eliminations			Consolidated
Net Sales
External	$	1,146,489	$	672,341	$	52,079		$	25,524		$	—		$	1,896,433
External Non-U.S.	48,575		70,824		—			137			—			119,536
Other segments	51,946		365,250		573			2,471			(420,240		)	—
	1,247,010		1,108,415		52,652			28,132			(420,240		)	2,015,969
Operating income (loss)	192,955		39,490		(2,883		)	(24,256		)(1)	20		(2)	205,326
Income (loss) before income taxes	172,709		29,084		(4,445		)	(30,742		)	(59		)	166,547
Depreciation and amortization	27,193		24,914		1,502			1,188			(51		)	54,746
Capital expenditures	7,279		10,251		532			631			—			18,693
As of March 31, 2011
Assets (7)	2,731,625		2,582,048		209,232			504,989		(3)	(200,289		)(4)	5,827,605
Liabilities (7)	456,170		544,225		16,780			2,772,754		(5)	(190,018		)(6)	3,599,911

Footnotes related to March 31, 2011 segment results (in millions):

(1)	Corporate SG&A	$	(9.3	)
	Company-wide stock option expense	(3.7		)
	Profit sharing	(13.3		)
	Other, net	2.0
		$	(24.3	)

(2) Gross profit reduction from intra-company sales $ (0.02 )

(3)	Cash and equivalents	$	149.9
	Income taxes receivable	6.3
	Deferred income taxes	21.0
	Property, plant and equipment, net	69.0
	Debt issuance costs, net	22.9
	Intra-company debt	147.4
	Other	88.5
		$	505.0

(4)	Elimination of intra-company receivables	$	(42.0	)
	Elimination of intra-company debt	(147.4		)
	Other	(10.9		)
		$	(200.3	)

(5)	Accounts payable	$	41.7
	Income taxes payable	19.6
	Accrued interest	61.8
	Accrued profit sharing	13.6
	Debt	2,341.0
	Deferred income taxes	228.2
	Other	66.9
		$	2,772.8

(6)	Elimination of intra-company payables	$	(42.0	)
	Elimination of intra-company debt	(147.4		)
	Other	(0.6		)
		$	(190.0	)

(7)  Certain segment deferred tax asset and liability accounts have been reclassified at March 31, 2011, to conform to the March 31, 2012 presentation.  These reclassifications had no impact to the previously reported segment income statement information or consolidated income statements as previously reported, nor did they impact previously reported consolidated total assets or liabilities.