Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2019

Employee Benefits

Summary of benefits payments under the SERPs and Defined Benefit Plans, which reflect expected future employee service, as appropriate, expected to be paid in the future periods

			Defined
	SERPs		Benefit Plans
		(in millions)
2020	$	17.5	$	52.0
2021		1.1		2.1
2022		10.6		2.3
2023		1.0		2.5
2024		1.0		2.7
2025-2029		4.2		16.0

Schedule of Company's expense for Reliance-sponsored retirement plans

	Year Ended December 31,
	2019		2018		2017
	(in millions)
Master Plan	$	22.7	$	28.1	$	25.0
Other defined contribution plans		9.6		9.4		9.0
ESOP		—		1.9		1.8
Reliance Deferred Compensation Plan		5.0		0.9		0.9
SERPs		3.3		2.9		6.5
Defined Benefit Plans		1.5		1.8		2.7
	$	42.1	$	45.0	$	45.9

SERPs and Defined Benefit Plans

Employee Benefits

Summary of the status of the funding of the plans, change in plan assets and items not yet recognized as a component of net periodic pension expense

	SERPs				Defined Benefit Plans
	2019		2018		2019		2018
	(in millions)				(in millions)
Change in benefit obligation
Benefit obligation at beginning of year	$	37.2	$	36.6	$	96.6	$	103.5
Service cost		0.9		0.9		1.6		1.7
Interest cost		1.4		1.1		3.8		3.5
Actuarial loss (gain)		11.4		(0.3)		15.9		(9.3)
Benefits paid		(1.1)		(1.1)		(3.9)		(3.8)
Plan amendments		—		—		2.2		1.0
Benefit obligation at end of year	$	49.8	$	37.2	$	116.2	$	96.6
Change in plan assets
Fair value of plan assets at beginning of year		N/A		N/A	$	94.9	$	89.0
Actual return on plan assets		N/A		N/A		16.1		(4.2)
Employer contributions		N/A		N/A		—		13.9
Benefits paid		N/A		N/A		(3.9)		(3.8)
Fair value of plan assets at end of year		N/A		N/A	$	107.1	$	94.9
Funded status
Funded status of the plans	$	(49.8)	$	(37.2)	$	(9.1)	$	(1.7)
Items not yet recognized as component of net periodic pension expense
Unrecognized net actuarial losses	$	19.6	$	9.1	$	27.2	$	23.2
Unamortized prior service cost		—		—		4.7		2.8
	$	19.6	$	9.1	$	31.9	$	26.0

Schedule of amounts recognized in the statement of financial position

	SERPs				Defined Benefit Plans
	2019		2018		2019		2018
	(in millions)				(in millions)
Amounts recognized in the statement of financial position
Current liabilities	$	(17.5)	$	(1.1)	$	—	$	—
Noncurrent liabilities		(32.3)		(36.1)		(9.1)		(1.7)
Accumulated other comprehensive loss		19.6		9.1		31.9		26.0
Net amount recognized	$	(30.2)	$	(28.1)	$	22.8	$	24.3

Schedule of details of net periodic pension expense

Following are the details of net periodic benefit cost related to the SERPs and Defined Benefit Plans:

	SERPs						Defined Benefit Plans
	Year Ended December 31,						Year Ended December 31,
	2019		2018		2017		2019		2018		2017
	(in millions)						(in millions)
Service cost	$	0.9	$	0.9	$	0.8	$	1.6	$	1.7	$	1.5
Interest cost		1.4		1.1		1.1		3.8		3.5		3.7
Expected return on plan assets		—		—		—		(5.6)		(5.1)		(4.4)
Settlement loss		—		—		3.7		—		—		0.1
Prior service cost		—		—		—		0.4		0.3		0.3
Amortization of net loss		1.0		0.9		0.9		1.3		1.4		1.5
	$	3.3	$	2.9	$	6.5	$	1.5	$	1.8	$	2.7

Net periodic benefit cost related to the SERPs and Defined Benefit Plans is presented in our statements of income as summarized below:

	SERPs						Defined Benefit Plans
	Year Ended December 31,						Year Ended December 31,
	2019		2018		2017		2019		2018		2017
	(in millions)						(in millions)
Amounts recognized in the statement of income
Warehouse, delivery, selling, general and administrative expense	$	0.9	$	0.9	$	0.8	$	1.6	$	1.7	$	1.5
Other (income) expense, net		2.4		2.0		5.7		(0.1)		0.1		1.2
	$	3.3	$	2.9	$	6.5	$	1.5	$	1.8	$	2.7

Schedule of assumptions used to determine net periodic benefit cost

	SERPs						Defined Benefit Plans
	Year Ended December 31,						Year Ended December 31,
	2019		2018		2017		2019		2018		2017
Weighted average assumptions to determine net cost
Discount rate	3.81	%	3.04	%	3.36	%	4.06	%	3.47	%	3.93	%
Expected long-term rate of return on plan assets	N/A		N/A		N/A		6.09	%	5.66	%	6.17	%
Rate of compensation increase	6.00	%	6.00	%	6.00	%	N/A		N/A		N/A

Schedule of assumptions used to determine the benefit obligation

	SERPs				Defined Benefit Plans
	December 31,				December 31,
	2019		2018		2019		2018
Weighted average assumptions to determine benefit obligations
Discount rate	2.63	%	3.82	%	2.59	%	4.06	%
Expected long-term rate of return on plan assets	N/A		N/A		6.09	%	5.66	%
Rate of compensation increase	6.00	%	6.00	%	N/A		N/A

Defined Benefit Plans

Employee Benefits

Schedule of information for defined benefit plans with an accumulated benefit obligation and projected benefit obligation in excess of plan assets

	Year Ended December 31,
	2019		2018
	(in millions)
Information for defined benefit plans with an accumulated benefit obligation and projected benefit obligation in excess of plan assets
Accumulated benefit obligation	$	116.2	$	53.0
Projected benefit obligation		116.2		53.0
Fair value of plan assets		107.1		50.1

Schedule of weighted-average asset allocations of the Company's Defined Benefit Plans by asset category

	December 31,
	2019		2018
Plan Assets
Equity securities	33	%	51	%
Debt securities	60	%	45	%
Cash and cash equivalents	7	%	4	%
Total	100	%	100	%

Schedule of fair value measurements of Defined Benefit Plans assets

	Level 1		Level 2		Level 3		Total
	(in millions)
December 31, 2019:
Common stock(1)	$	25.1	$	—	$	—	$	25.1
U.S. government, state and agency		—		9.3		—		9.3
Corporate debt securities(2)		—		3.6		—		3.6
Mutual funds(3)		59.4		—		—		59.4
Interest and non-interest bearing cash		7.3		—		—		7.3
Total investments in the fair value hierarchy		91.8		12.9		—		104.7
Investments measured at net asset value ("NAV")(4)								2.4
Total investments at fair value	$	91.8	$	12.9	$	—	$	107.1
December 31, 2018:
Common stock(1)	$	27.5	$	—	$	—	$	27.5
U.S. government, state and agency		—		11.6		—		11.6
Corporate debt securities(2)		—		17.3		—		17.3
Mutual funds(3)		32.2		—		—		32.2
Interest and non-interest bearing cash		3.6		—		—		3.6
Total investments in the fair value hierarchy		63.3		28.9		—		92.2
Investments measured at net asset value ("NAV")(4)	`							2.7
Total investments at fair value	$	63.3	$	28.9	$	—	$	94.9

(1) Comprised primarily of securities of large domestic and foreign companies. Valued at the closing price reported on the active market on which the individual securities are traded.

(2) Valued using a combination of inputs including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data.

(3) Level 1 assets are comprised of exchange traded funds, money market funds, and stock and bond funds. These assets are valued at closing price for exchange traded funds and NAV for open-end and closed-end mutual funds.

(4) Certain investments, including common collective trusts, are measured at fair value using the NAV practical expedient. The fair value of these investments are excluded from the fair value hierarchy and are presented in the tables above to permit reconciliation of the investments classified within the fair value hierarchy to the total investments at fair value.