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Employee Benefits
 6 Months Ended
Jun. 30, 2013
Compensation And Retirement Disclosure [Abstract]  
Employee Benefits

NOTE 7: EMPLOYEE BENEFITS

The following table summarizes the components of net periodic benefit cost for the three and six month periods ended June 30, 2013 and 2012 for the Ryerson pension plans and postretirement benefits other than pension:

 

     Three Months Ended June 30,  
     Pension Benefits     Other Benefits  
     2013     2012     2013     2012  
     (In millions)  

Components of net periodic benefit cost

         

Interest cost

      9        10        1        2   

Expected return on assets

      (11 )      (11 )      —          —     

Prior service cost

      —          —          (1 )      —     

Recognized actuarial net (gain) loss

      4        4        (1 )      (2 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net periodic benefit cost (credit)

    $ 2      $ 3      $ (1 )    $ —     
  

 

 

    

 

 

    

 

 

    

 

 

  

 

     Six Months Ended June 30,  
     Pension Benefits     Other Benefits  
     2013     2012     2013     2012  
     (In millions)  

Components of net periodic benefit cost

         

Service cost

    $ 1      $ 1      $ —        $ —     

Interest cost

      18        20        2        4   

Expected return on assets

      (22 )      (22 )      —          —     

Prior service cost

      —          —          (1 )      —     

Recognized actuarial net (gain) loss

      7        6        (3 )      (4 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net periodic benefit cost (credit)

    $ 4      $ 5      $ (2 )    $ —     
  

 

 

    

 

 

    

 

 

    

 

 

  

Contributions

The Company has contributed $20.2 million to the pension plan fund through the six months ended June 30, 2013 and anticipates that it will have a minimum required pension contribution funding of approximately $28 million for the remaining six months of 2013.