Segment Information (Tables)

9 Months Ended

Sep. 30, 2012

Segment Information

Schedule of operating segment results

For the three months ended			Metals Recycling /			Steel Fabrication
September 30, 2012	Steel Operations		Ferrous Resources			Operations		Other			Eliminations			Consolidated
Net Sales
External	$	985,524	$	475,547		$	102,401	$	17,156		$	—		$	1,580,628
External Non-U.S.	65,825		46,684			—		253			—			112,762
Other segments	48,157		268,137			41		4,864			(321,199		)	—
	1,099,506		790,368			102,442		22,273			(321,199		)	1,693,390
Operating income (loss)	106,927		(15,697		)	3,141		(17,759		)(1)	(3,891		)(2)	72,721
Income (loss) before income taxes	88,394		(24,829		)	1,225		(53,678		)	(3,891		)	7,221
Depreciation and amortization	25,937		26,449			2,100		4,518			(51		)	58,953
Capital expenditures	14,625		42,370			1,005		342			—			58,342
As of September 30, 2012
Assets	2,523,616		2,586,568			249,988		597,297		(3)	(181,953		)(4)	5,775,516
Liabilities	482,348		507,367			18,143		2,505,036		(5)	(170,206		)(6)	3,342,688

Footnotes related to the three months ended September 30, 2012 segment results (in millions):

(1)	Corporate SG&A	$	(7.6	)
	Profit sharing	(2.9		)
	Impairment charges	(7.9		)
	Other, net	0.6
	Total	$	(17.8	)
(2)	Gross profit reduction from intra-company sales	$	(3.9	)
(3)	Cash and equivalents	$	246.8
	Income taxes receivable	0.9
	Deferred income taxes	28.2
	Property, plant and equipment, net	75.7
	Debt issuance costs, net	29.4
	Intra-company debt	129.1
	Other	87.2
	Total	$	597.3
(4)	Elimination of intra-company receivables	$	(35.8	)
	Elimination of intra-company debt	(129.1		)
	Other	(17.1		)
	Total	$	(182.0	)
(5)	Accounts payable	$	32.3
	Income taxes payable	12.7
	Accrued interest	28.9
	Accrued profit sharing	15.5
	Debt	2,156.2
	Deferred income taxes	240.9
	Other	18.5
	Total	$	2,505.0
(6)	Elimination of intra-company payables	$	(39.0	)
	Elimination of intra-company debt	(129.1		)
	Other	(2.1		)
	Total	$	(170.2	)

For the three months ended			Metals Recycling /			Steel Fabrication
September 30, 2011	Steel Operations		Ferrous Resources			Operations			Other			Eliminations			Consolidated
Net Sales
External	$	1,183,665	$	624,742		$	83,094		$	24,018		$	—		$	1,915,519
External Non-U.S.	44,345		83,296			—			295			—			127,936
Other segments	49,854		351,219			16			3,033			(404,122		)	—
	1,277,864		1,059,257			83,110			27,346			(404,122		)	2,043,455
Operating income (loss)	136,194		(3,388		)	(246		)	(28,437		)(1)	4,662		(2)	108,785
Income (loss) before income taxes	114,805		(14,697		)	(2,139		)	(35,025		)	4,662			67,606
Depreciation and amortization	27,320		25,164			1,847			1,682			(51		)	55,962
Capital expenditures	10,457		26,575			503			591			—			38,126
As of September 30, 2011
Assets	2,629,873		2,557,147			234,452			757,275		(3)	(175,266		)(4)	6,003,481
Liabilities	488,476		531,827			16,820			2,785,613		(5)	(166,285		)(6)	3,656,451

Footnotes related to the three months ended September 30, 2011 segment results (in millions):

(1)	Corporate SG&A	$	(19.1	)
	Company-wide stock option expense	(3.6		)
	Profit sharing	(5.5		)
	Other, net	(0.2		)
	Total	$	(28.4	)
(2)	Gross profit increase from intra-company sales	$	4.7
(3)	Cash and equivalents	$	391.5
	Income taxes receivable	24.5
	Deferred income taxes	21.6
	Property, plant and equipment, net	72.1
	Debt issuance costs	25.6
	Intra-company debt	130.6
	Other	91.4
	Total	$	757.3
(4)	Elimination of intra-company receivables	$	(30.6	)
	Elimination of intra-company debt	(130.6		)
	Other	(14.1		)
	Total	$	(175.3	)
(5)	Accounts payable	32.6
	Income taxes payable	15.0
	Accrued interest	61.8
	Accrued profit sharing	31.4
	Debt	2,342.0
	Deferred income taxes	221.0
	Other	81.8
	Total	$	2,785.6
(6)	Elimination of intra-company payables	$	(35.9	)
	Elimination of intra-company debt	(130.6		)
	Other	0.2
	Total	$	(166.3	)

For the nine months ended			Metals Recycling /			Steel Fabrication
September 30, 2012	Steel Operations		Ferrous Resources			Operations			Other			Eliminations			Consolidated
Net Sales
External	$	3,279,344	$	1,643,522		$	273,060		$	54,071		$	—		$	5,249,997
External Non-U.S.	166,025		168,818			—			393			—			335,236
Other segments	148,839		1,009,604			45			12,290			(1,170,778		)	—
	3,594,208		2,821,944			273,105			66,754			(1,170,778		)	5,585,233
Operating income (loss)	380,832		(30,905		)	666			(49,294		)(1)	(5,063		)(2)	296,236
Income (loss) before income taxes	325,521		(57,932		)	(4,408		)	(117,956		)	(5,063		)	140,162
Depreciation and amortization	78,405		78,114			6,007			7,654			(153		)	170,027
Capital expenditures	26,848		127,133			3,502			1,203			—			158,686

Footnotes related to the nine months ended September 30, 2012 segment results (in millions):

(1)	Corporate SG&A	$	(22.4	)
	Company-wide stock option expense	(5.7		)
	Profit sharing	(15.3		)
	Impairment charges	(7.9		)
	Other, net	2.0
	Total	$	(49.3	)
(2)	Gross profit reduction from intra-company sales	$	(5.1	)

For the nine months ended			Metals Recycling /		Steel Fabrication
September 30, 2011	Steel Operations		Ferrous Resources		Operations			Other			Eliminations			Consolidated
Net Sales
External	$	3,551,626	$	1,944,928	$	197,112		$	75,260		$	—		$	5,768,926
External Non-U.S.	138,723		230,954		—			552			—			370,229
Other segments	163,991		1,069,661		612			8,452			(1,242,716		)	—
	3,854,340		3,245,543		197,724			84,264			(1,242,716		)	6,139,155
Operating income (loss)	543,117		39,987		(4,764		)	(78,115		)(1)	2,105		(2)	502,330
Income (loss) before income taxes	480,296		8,033		(9,918		)	(97,105		)	1,999			383,305
Depreciation and amortization	82,164		75,784		4,969			4,201			(153		)	166,965
Capital expenditures	28,891		58,458		1,454			2,992			—			91,795

Footnotes related to the nine months ended September 30, 2011 segment results (in millions):

(1)	Corporate SG&A	$	(38.4	)
	Company-wide stock option expense	(11.0		)
	Profit sharing	(30.6		)
	Other, net	1.9
	Total	$	(78.1	)
(2)	Gross profit increase from intra-company sales	$	2.1