Condensed Consolidating Financial Statements (Tables)

12 Months Ended

Dec. 31, 2013

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Condensed Consolidating Statement of Operations

RYERSON INC.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2013

(In millions)

	Parent			Joseph T. Ryerson			Guarantor		Non-guarantor			Eliminations			Consolidated
Net sales	$	—		$	2,916.0		$	2,387.0	$	471.4		$	(2,314.1	)	$	3,460.3
Cost of materials sold		—			2,412.8			2,341.2		403.8			(2,314.1	)		2,843.7
Gross profit		—			503.2			45.8		67.6			—			616.6
Warehousing, delivery, selling, general and administrative expenses		5.1			368.2			24.7		81.5			—			479.5
Restructuring and other charges		—			—			—		1.9			—			1.9
Impairment charges on fixed assets and goodwill		—			3.2			—		6.8			—			10.0
Operating profit (loss)		(5.1	)		131.8			21.1		(22.6	)		—			125.2
Other income and (expense), net		(4.4	)		0.3			—		3.9			—			(0.2	)
Interest and other expense on debt		(15.3	)		(92.2	)		—		(3.0	)		—			(110.5	)
Intercompany transactions:
Interest expense on intercompany loans		(26.9	)		—			—		—			26.9			—
Interest income on intercompany loans		—			19.0			7.9		—			(26.9	)		—
Income (loss) before income taxes		(51.7	)		58.9			29.0		(21.7	)		—			14.5
Provision (benefit) for income taxes		(31.0	)		(49.8	)		16.2		(0.8	)		—			(65.4	)
Equity in (earnings) loss of subsidiaries		(106.4	)		(16.4	)		7.1		—			115.7			—
Net income (loss)		85.7			125.1			5.7		(20.9	)		(115.7	)		79.9
Less: Net loss attributable to noncontrolling interest		—			—			—		(5.8	)		—			(5.8	)
Net income (loss) attributable to Ryerson Inc.	$	85.7		$	125.1		$	5.7	$	(15.1	)	$	(115.7	)	$	85.7

RYERSON INC.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2012

(In millions)

	Parent			Joseph T. Ryerson			Guarantor		Non-guarantor			Eliminations			Consolidated
Net sales	$	—		$	3,396.0		$	2,827.4	$	543.7		$	(2,742.4	)	$	4,024.7
Cost of materials sold		—			2,819.0			2,773.3		465.2			(2,742.4	)		3,315.1
Gross profit		—			577.0			54.1		78.5			—			709.6
Warehousing, delivery, selling, general and administrative expenses		4.7			395.5			26.3		81.7			—			508.2
Restructuring and other charges		—			(0.2	)		—		1.3			—			1.1
Impairment charges on fixed assets and goodwill		—			1.0			—		—			—			1.0
Pension and other postretirement benefits curtailment gain		—			—			—		(1.7	)		—			(1.7	)
Operating profit (loss)		(4.7	)		180.7			27.8		(2.8	)		—			201.0
Other income and (expense), net		(16.8	)		0.2			—		(1.4	)		—			(18.0	)
Interest and other expense on debt		(62.4	)		(20.9	)		—		(3.1	)		—			(86.4	)
Intercompany transactions:
Interest expense on intercompany loans		(53.5	)		(39.7	)		—		—			93.2			—
Interest income on intercompany loans		—			—			93.2		—			(93.2	)		—
Income (loss) before income taxes		(137.4	)		120.3			121.0		(7.3	)		—			96.6
Provision (benefit) for income taxes		(52.1	)		(0.5	)		45.2		0.2			—			(7.2	)
Equity in (earnings) loss of subsidiaries		(194.6	)		(46.0	)		4.0		—			236.6			—
Net income (loss)		109.3			166.8			71.8		(7.5	)		(236.6	)		103.8
Less: Net loss attributable to noncontrolling interest		—			—			—		(5.5	)		—			(5.5	)
Net income (loss) attributable to Ryerson Inc.	$	109.3		$	166.8		$	71.8	$	(2.0	)	$	(236.6	)	$	109.3

RYERSON INC.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2011

(In millions)

	Parent			Joseph T. Ryerson			Guarantor		Non-guarantor			Eliminations			Consolidated
Net sales	$	—		$	4,093.4		$	3,326.1	$	645.0		$	(3,334.7	)	$	4,729.8
Cost of materials sold		—			3,560.9			3,288.4		556.4			(3,334.7	)		4,071.0
Gross profit		—			532.5			37.7		88.6			—			658.8
Warehousing, delivery, selling, general and administrative expenses		5.2			442.8			5.4		86.4			—			539.8
Restructuring and other charges		—			10.0			—		1.1			—			11.1
Impairment charges on fixed assets and goodwill		—			7.8			—		1.5			—			9.3
Operating profit (loss)		(5.2	)		71.9			32.3		(0.4	)		—			98.6
Other income and (expense), net		(0.2	)		6.0			—		(1.2	)		—			4.6
Interest and other expense on debt		(76.6	)		(0.1	)		—		(3.4	)		—			(80.1	)
Intercompany transactions:
Interest expense on intercompany loans		(42.0	)		(37.6	)		—		—			79.6			—
Interest income on intercompany loans		—			—			79.6		—			(79.6	)		—
Income (loss) before income taxes		(124.0	)		40.2			111.9		(5.0	)		—			23.1
Provision (benefit) for income taxes		(51.9	)		1.1			33.2		6.1			—			(11.5	)
Equity in (earnings) loss of subsidiaries		(115.0	)		(65.5	)		8.7		—			171.8			—
Net income (loss)		42.9			104.6			70.0		(11.1	)		(171.8	)		34.6
Less: Net loss attributable to noncontrolling interest		—			—			—		(8.3	)		—			(8.3	)
Net income (loss) attributable to Ryerson Inc.	$	42.9		$	104.6		$	70.0	$	(2.8	)	$	(171.8	)	$	42.9

Condensed Consolidating Statement of Comprehensive Income

RYERSON INC.

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

YEAR ENDED DECEMBER 31, 2013

(In millions)

	Parent		Joseph T. Ryerson		Guarantor		Non-guarantor			Eliminations			Consolidated
Comprehensive income (loss)	$	149.5	$	199.9	$	5.7	$	(31.7	)	$	(179.5	)	$	143.9
Less: Comprehensive loss attributable to noncontrolling interest		—		—		—		(5.6	)		—			(5.6	)
Comprehensive income (loss) attributable to Ryerson Inc.	$	149.5	$	199.9	$	5.7	$	(26.1	)	$	(179.5	)	$	149.5

RYERSON INC.

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

YEAR ENDED DECEMBER 31, 2012

(In millions)

	Parent		Joseph T. Ryerson		Guarantor		Non-guarantor			Eliminations			Consolidated
Comprehensive income (loss)	$	71.9	$	136.1	$	79.6	$	(5.0	)	$	(216.6	)	$	66.0
Less: Comprehensive loss attributable to noncontrolling interest		—		—		—		(5.9	)		—			(5.9	)
Comprehensive income (loss) attributable to Ryerson Inc.	$	71.9	$	136.1	$	79.6	$	0.9		$	(216.6	)	$	71.9

RYERSON INC.

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

YEAR ENDED DECEMBER 31, 2011

(In millions)

	Parent			Joseph T. Ryerson		Guarantor		Non-guarantor			Eliminations			Consolidated
Comprehensive income (loss)	$	(34.4	)	$	67.5	$	59.8	$	(16.7	)	$	(117.6	)	$	(41.4	)
Less: Comprehensive loss attributable to noncontrolling interest		—			—		—		(7.0	)		—			(7.0	)
Comprehensive income (loss) attributable to Ryerson Inc.	$	(34.4	)	$	67.5	$	59.8	$	(9.7	)	$	(117.6	)	$	(34.4	)

Condensed Consolidating Statement of Cash Flows

RYERSON INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

YEAR ENDED DECEMBER 31, 2013

(In millions)

	Parent			Joseph T. Ryerson			Guarantor			Non-guarantor			Eliminations			Consolidated
OPERATING ACTIVITIES:
Net income (loss)	$	85.7		$	125.1		$	5.7		$	(20.9	)	$	(115.7	)	$	79.9
Non-cash expenses		(23.8	)		(6.4	)		7.9			15.9			—			(6.4	)
Equity in (earnings) loss of subsidiaries		(106.4	)		(16.4	)		7.1			—			115.7			—
Changes in working capital		625.8			980.3			(1,651.4	)		20.1			—			(25.2	)
Net adjustments		495.6			957.5			(1,636.4	)		36.0			115.7			(31.6	)
Net cash provided by (used in) operating activities		581.3			1,082.6			(1,630.7	)		15.1			—			48.3
INVESTING ACTIVITIES:
Net cash provided by (used in) investing activities		523.3			(564.3	)		1,486.1			(0.9	)		(1,457.7	)		(13.5	)
FINANCING ACTIVITIES:
Net cash provided by (used in) financing activities		(1,104.8	)		(525.8	)		144.7			1.6			1,457.7			(26.6	)
Net increase (decrease) in cash and cash equivalents		(0.2	)		(7.5	)		0.1			15.8			—			8.2
Effect of exchange rates		—			—			0.4			(5.4	)		—			(5.0	)
Net change in cash and cash equivalents		(0.2	)		(7.5	)		0.5			10.4			—			3.2
Beginning cash and cash equivalents		0.2			15.3			1.9			53.4			—			70.8
Ending cash and cash equivalents	$	—		$	7.8		$	2.4		$	63.8		$	—		$	74.0

RYERSON INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

YEAR ENDED DECEMBER 31, 2012

(In millions)

	Parent			Joseph T. Ryerson			Guarantor			Non-guarantor			Eliminations			Consolidated
OPERATING ACTIVITIES:
Net income (loss)	$	109.3		$	166.8		$	71.8		$	(7.5	)	$	(236.6	)	$	103.8
Non-cash expenses		2.1			46.0			2.9			8.2			—			59.2
Equity in (earnings) loss of subsidiaries		(194.6	)		(46.0	)		4.0			—			236.6			—
Changes in working capital		1,020.4			(893.8	)		(123.8	)		20.8			—			23.6
Net adjustments		827.9			(893.8	)		(116.9	)		29.0			236.6			82.8
Net cash provided by (used in) operating activities		937.2			(727.0	)		(45.1	)		21.5			—			186.6
INVESTING ACTIVITIES:
Net cash provided by (used in) investing activities		(2.0	)		(30.6	)		52.9			0.6			(56.2	)		(35.3	)
FINANCING ACTIVITIES:
Net cash provided by (used in) financing activities		(938.0	)		758.4			(7.5	)		(12.5	)		56.2			(143.4	)
Net increase (decrease) in cash and cash equivalents		(2.8	)		0.8			0.3			9.6			—			7.9
Effect of exchange rates		—			—			0.1			1.5			—			1.6
Net change in cash and cash equivalents		(2.8	)		0.8			0.4			11.1			—			9.5
Beginning cash and cash equivalents		3.0			14.5			1.5			42.3			—			61.3
Ending cash and cash equivalents	$	0.2		$	15.3		$	1.9		$	53.4		$	—		$	70.8

RYERSON INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

YEAR ENDED DECEMBER 31, 2011

(In millions)

	Parent			Joseph T. Ryerson			Guarantor			Non-guarantor			Eliminations			Consolidated
OPERATING ACTIVITIES:
Net income (loss)	$	42.9		$	104.6		$	70.0		$	(11.1	)	$	(171.8	)	$	34.6
Non-cash expenses		(24.1	)		82.0			(15.8	)		7.9			—			50.0
Equity in (earnings) loss of subsidiaries		(115.0	)		(65.5	)		8.7			—			171.8			—
Changes in working capital		265.5			(511.3	)		218.4			(2.6	)		—			(30.0	)
Net adjustments		126.4			(494.8	)		211.3			5.3			171.8			20.0
Net cash provided by (used in) operating activities		169.3			(390.2	)		281.3			(5.8	)		—			54.6
INVESTING ACTIVITIES:
Net cash provided by (used in) investing activities		97.3			3.4			(158.0	)		(10.2	)		(47.5	)		(115.0	)
FINANCING ACTIVITIES:
Net cash provided by (used in) financing activities		(264.1	)		386.3			(122.5	)		10.7			47.5			57.9
Net increase (decrease) in cash and cash equivalents		2.5			(0.5	)		0.8			(5.3	)		—			(2.5	)
Effect of exchange rates		—			—			—			1.6			—			1.6
Net change in cash and cash equivalents		2.5			(0.5	)		0.8			(3.7	)		—			(0.9	)
Beginning cash and cash equivalents		0.5			15.0			0.7			46.0			—			62.2
Ending cash and cash equivalents	$	3.0		$	14.5		$	1.5		$	42.3		$	—		$	61.3

Condensed Consolidating Balance Sheet

RYERSON INC.

CONDENSED CONSOLIDATING BALANCE SHEET

DECEMBER 31, 2013

(In millions)

	Parent			Joseph T. Ryerson		Guarantor		Non-guarantor			Eliminations			Consolidated
ASSETS
Current assets	$	3.5		$	1,173.7	$	113.0	$	235.4		$	(283.7	)	$	1,241.9
Property, plant and equipment net of accumulated depreciation		—			387.8		3.1		61.8			—			452.7
Other noncurrent assets		1,113.0			870.6		321.8		5.8			(2,087.8	)		223.4
Total Assets	$	1,116.5		$	2,432.1	$	437.9	$	303.0		$	(2,371.5	)	$	1,918.0
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	259.3		$	239.7	$	135.0	$	110.8		$	(283.7	)	$	461.1
Noncurrent liabilities		999.2			1,200.0		5.3		27.7			(632.1	)		1,600.1
Redeemable noncontrolling interest		—			—		—		1.3			—			1.3
Ryerson Inc. stockholders’ equity		(142.0	)		992.4		297.6		165.7			(1,455.7	)		(142.0	)
Noncontrolling interest		—			—		—		(2.5	)		—			(2.5	)
Total Liabilities and Equity	$	1,116.5		$	2,432.1	$	437.9	$	303.0		$	(2,371.5	)	$	1,918.0

RYERSON INC.

CONDENSED CONSOLIDATING BALANCE SHEET

DECEMBER 31, 2012

(In millions)

	Parent			Joseph T. Ryerson		Guarantor		Non-guarantor		Eliminations			Consolidated
ASSETS
Current assets	$	381.7		$	2,215.9	$	63.0	$	214.5	$	(1,620.8	)	$	1,254.3
Property, plant and equipment net of accumulated depreciation		—			410.8		3.1		69.5		—			483.4
Other noncurrent assets		944.2			319.2		1,818.6		14.4		(2,869.9	)		226.5
Total Assets	$	1,325.9		$	2,945.9	$	1,884.7	$	298.4	$	(4,490.7	)	$	1,964.2
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	16.5		$	254.3	$	1,738.3	$	67.7	$	(1,620.8	)	$	456.0
Noncurrent liabilities		1,594.3			1,872.2		0.8		32.8		(1,711.4	)		1,788.7
Redeemable noncontrolling interest		—			—		—		1.7		—			1.7
Ryerson Inc. stockholders’ equity		(284.9	)		819.4		145.6		193.5		(1,158.5	)		(284.9	)
Noncontrolling interest		—			—		—		2.7		—			2.7
Total Liabilities and Equity	$	1,325.9		$	2,945.9	$	1,884.7	$	298.4	$	(4,490.7	)	$	1,964.2