ex_134239.htm

Cost of materials sold (excludes items shown separately below)

$ 1,715,081

$ 1,330,696

$ 1,055,116

Costs and expenses

1,372,954

1,055,212

820,040

Warehouse and processing

97,565

87,425

79,521

Administrative and general

81,107

69,659

63,054

Distribution

50,347

41,789

36,490

Selling

29,020

26,285

23,060

Occupancy

9,428

8,862

8,718

Depreciation

16,645

16,589

17,596

Amortization

963

889

Total costs and expenses

1,658,029

1,306,710

1,049,368

Income before interest and income taxes

57,052

^[1]

23,986

^[2]

5,748

Other loss, net

(307)

(118)

(55)

56,745

23,868

5,693

Interest and other expense on debt

10,681

7,518

5,273

Income before income taxes

46,064

16,350

420

Income tax provision (benefit)

12,305

(2,613)

1,498

Total comprehensive income (loss)

33,759

^[3]

18,963

^[3]

(1,078)

Gain on cash flow hedges

114

Tax effect of hedges

(44)

$ 33,759

$ 18,963

$ (1,008)

Net income (loss) per share - basic (in dollars per share)

$ 2.95

$ 1.67

$ (0.10)

Weighted average shares outstanding - basic (in shares)

11,432

11,381

11,210

Net income (loss) per share - diluted (in dollars per share)

$ 2.95

$ 1.67

$ (0.10)

Weighted average shares outstanding - diluted (in shares)

11,440

11,381

11,210

Dividends declared per share of common stock (in dollars per share)

$ 0.08

[1]	Operating income (loss) in 2018 includes $8,408 of LIFO expense related to the Company's tubular and pipe products segment.
[2]	Operating income (loss) in 2017 includes $2,707 of LIFO expense related to the Company's tubular and pipe products segment.
[3]	Includes a $6.2 million tax benefit related to the U.S. Tax Cuts and Jobs Act.

XML 17 R3.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 9,319	$ 3,009
Accounts receivable, net	175,252	132,737
Inventories, net (includes LIFO credit of $3,071 as of December 31, 2018 and LIFO debit of $5,337 as of December 31, 2017)	368,738	275,307
Prepaid expenses and other	9,460	8,333
Assets held for sale		750
Total current assets	562,769	420,136
Property and equipment, at cost	403,785	376,710
Accumulated depreciation	(244,176)	(229,062)
Net property and equipment	159,609	147,648
Goodwill	2,358
Intangible assets, net	24,914	22,980
Other long-term assets	11,090	13,394
Total assets	760,740	604,158
Liabilities
Current portion of long-term debt		930
Accounts payable	95,367	84,034
Accrued payroll	19,665	11,999
Other accrued liabilities	13,395	14,184
Total current liabilities	128,427	111,147
Credit facility revolver	302,530	196,235
Other long-term liabilities	9,327	12,048
Deferred income taxes	13,465	12,145
Total liabilities	453,749	331,575
Commitments and contingencies (Note 12)
Shareholders' Equity
Preferred stock, without par value, 5,000 shares authorized, no shares issued or outstanding
Common stock, without par value, 20,000 shares authorized, 11,008 and 10,989 shares issued and outstanding	130,778	129,453
Treasury stock, at cost, 12 and 31 shares held	(132)	(337)
Retained earnings	176,345	143,467
Total shareholders' equity	306,991	272,583
Total liabilities and shareholders' equity	$ 760,740	$ 604,158

XML 18 R4.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Inventory, LIFO debit	$ 3,071	$ 5,337
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized (in shares)	5,000	5,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized (in shares)	20,000	20,000
Common stock, issued (in shares)	11,008	10,989
Common stock, outstanding (in shares)	11,008	10,989
Treasury stock, shares (in shares)	12	31

XML 19 R5.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Cash flows from (used for) operating activities:

Adjustments to reconcile net income (loss) to net cash from operating activities -

$ 33,759

^[1]

$ 18,963

^[1]

$ (1,078)

(Gain) loss on disposition of property and equipment

18,035

18,587

19,402

(52)

(376)

Intangibles and other long-term assets

1,529

1,096

534

1,970

(2,874)

(638)

Deferred income taxes and other long-term liabilities

(1,467)

(8,988)

(1,074)

53,890

26,732

16,770

Changes in working capital:

Accounts receivable

(35,906)

(30,835)

(9,025)

Inventories

(78,662)

(20,781)

(47,881)

Prepaid expenses and other

(1,303)

1,620

Accounts payable

2,898

3,918

28,619

Change in outstanding checks

1,038

658

(4,846)

Accrued payroll and other accrued liabilities

6,194

2,570

4,930

(104,391)

(45,773)

(26,583)

Net cash used for operating activities

(50,501)

(19,041)

(9,813)

Cash flows from (used for) investing activities:

Acquisition

(21,907)

Capital expenditures

(25,715)

(10,160)

(6,824)

Proceeds from disposition of property and equipment

126

991

376

Net cash used for investing activities

(47,496)

(9,169)

(6,448)

Cash flows from (used for) financing activities:

Credit facility revolver borrowings

597,867

387,220

307,298

Credit facility revolver repayments

(491,572)

(355,584)

(288,499)

Principal payments under capital lease obligation

(7)

Industrial revenue bond repayments

(930)

(895)

(865)

Credit facility fees and expenses

(171)

(969)

(131)

Proceeds from employee stock options

Dividends paid

(880)

(878)

(877)

Net cash from financing activities

104,307

28,904

16,972

Cash and cash equivalents:

Net change

6,310

694

711

Beginning balance

3,009

2,315

1,604

Ending balance

9,319

3,009

2,315

Cash paid during the period

Interest paid

10,241

6,433

4,300

Income taxes paid

$ 11,316

$ 9,357

$ 982

[1]	Includes a $6.2 million tax benefit related to the U.S. Tax Cuts and Jobs Act.

XML 20 R6.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands

Common Stock [Member]

Treasury Stock [Member]

AOCI Attributable to Parent [Member]

Retained Earnings [Member]

Total

Balance at Dec. 31, 2015

$ 128,129

$ (699)

$ (70)

$ 127,335

$ 254,695

(1,078)

Payment of dividends

(877)

Employee stock purchase

Changes in fair value of hedges

444

534

Balance at Dec. 31, 2016

128,619

(609)

125,380

253,390

18,963

^[1]

Payment of dividends

(878)

Employee stock purchase

824

272

1,096

Other

Balance at Dec. 31, 2017

129,453

(337)

143,467

272,583

33,759

^[1]

Payment of dividends

(880)

1,324

205

1,529

Other

(1)

Balance at Dec. 31, 2018

$ 130,778

$ (132)

$ 176,345

$ 306,991

[1]	Includes a $6.2 million tax benefit related to the U.S. Tax Cuts and Jobs Act.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

XML 21 R7.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Shareholders' Equity (Parentheticals) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Common Stock [Member]
Employee stock purchases, shares (in shares)	1	3

XML 22 R8.htm IDEA: XBRL DOCUMENT

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
Note 1 - Summary of Significant Accounting Policies	Dec. 31, 2018
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Summary of Significant Accounting Policies : Nature of Business The Company operates in three reportable segments; carbon flat products, specialty metals flat products, and tubular and pipe products. The carbon flat products segment and the specialty metals flat products segments are at times consolidated and referred to as the flat products segments. Certain of the flat products segments’ assets and resources are shared by the carbon and specialty metals segments and both segments’ products are stored in the shared facilities and, in some locations, processed on shared equipment. Due to the shared assets and resources, certain of the flat products segment expenses are allocated between the carbon flat products segment and the specialty metals flat products segment based upon an established allocation methodology. Through its carbon flat products segment, the Company sells and distributes large volumes of processed carbon and coated flat-rolled sheet, coil and plate products, and fabricated parts. Through its specialty metals flat products segment, the Company sells and distributes processed aluminum and stainless flat-rolled sheet and coil products, flat bar products and fabricated parts. Through its acquisition of Berlin Metals, LLC (Berlin Metals) on April 2, 2018, the specialty metals flat products segment expanded its product offerings to include differing types of stainless flat-rolled sheet and coil and prime tin mill products. Through its tubular and pipe products segment, which consists of the Chicago Tube and Iron subsidiary (CTI), the Company distributes metal tubing, pipe, bar, valves and fittings and fabricate pressure parts supplied to various industrial markets. Principles of Consolidation and Basis of presentation The accompanying consolidated financial statements include the accounts of Olympic Steel, Inc. and its wholly-owned subsidiaries (collectively, the Company or Olympic), after elimination of intercompany accounts and transactions. Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Concentration Risks The Company is a major customer of flat-rolled coil and plate and tubular and pipe steel for many of its principal suppliers, but is not dependent on any one supplier. The Company purchased approximately 52%, 53% and 54% of its total steel requirements from its three largest suppliers in 2018, 2017 and 2016, respectively. The Company has a diversified customer and geographic base, which reduces the inherent risk and cyclicality of its business. The concentration of net sales to the Company’s top 20 customers approximated 29%, 27% and 29% of consolidated net sales in 2018, 2017 and 2016, respectively. In addition, the Company’s largest customer accounted for approximately 5%, 4% and 4% of consolidated net sales in 2018, 2017 and 2016, respectively. Sales to industrial machinery and equipment manufacturers and their fabricators accounted for 48%, 51% and 51% of consolidated net sales in 2018, 2017 and 2016, respectively. Cash and Cash Equivalents Cash equivalents consist of short-term highly liquid investments, with a three month or less maturity, which are readily convertible into cash. Fair Market Value Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the liability in an orderly transaction between market participants on the measurement date. Valuation techniques must maximize the use of observable inputs and minimize the use of unobservable inputs. To measure fair value, the Company applies a fair value hierarchy that is based on three levels of inputs, of which the first two are considered observable and the last unobservable, as follows: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Financial instruments, such as cash and cash equivalents, accounts receivable, accounts payable and the credit facility, are stated at their carrying value, which is a reasonable estimate of fair value. The fair value of marketable securities is based on quoted market prices. Accounts Receivable The Company’s allowance for doubtful accounts is maintained at a level considered appropriate based on historical experience and specific customer collection issues that the Company has identified. Estimations are based upon the application of a historical collection rate to the outstanding accounts receivable balance, which remains fairly level from year to year, and judgments about the probable effects of economic conditions on certain customers, which can fluctuate significantly from year to year. The Company cannot guarantee that the rate of future credit losses will be similar to past experience. The Company considers all available information when assessing the adequacy of the allowance for doubtful accounts each quarter. Inventories Inventories are stated at the lower of its cost or net realizable value. Inventory costs include the costs of the purchased metals, inbound freight, external and internal processing and applicable labor and overhead costs. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Costs of the Company’s carbon and specialty metals flat products segments’ inventories, including flat-rolled sheet, coil and plate products are determined using the specific identification method. Certain of the Company’s tubular and pipe products inventory is stated under the last-in, first -out (LIFO) method. At December 31, 2018 and December 31, 2017, approximately $51.1 million, or 13.9% of consolidated inventory, and $48.1 million, or 17.5% of consolidated inventory, respectively, was reported under the LIFO method of accounting. The cost of the remainder of tubular and pipe product segment’s inventory is determined using a weighted average rolling first -in, first -out (FIFO) method. On the Consolidated Statements of Comprehensive Income, “Cost of materials sold (exclusive of items shown separately below)” consists of the cost of purchased metals, inbound and internal transfer freight, external processing costs, and LIFO income or expense. Property and Equipment, and Depreciation Property and equipment are stated at cost. Depreciation is provided using the straight-line method over the estimated useful lives of the assets ranging from two to 30 years. The Company capitalizes the costs of obtaining or developing internal-use software, including directly related payroll costs. The Company amortizes those costs over five years, beginning when the software is ready for its intended use. Intangible Assets and Recoverability of Long-lived Assets The Company performs an annual impairment test of indefinite-lived intangible assets in the fourth quarter, or more frequently if changes in circumstances or the occurrence of events indicate potential impairment. Events or changes in circumstances that could trigger an impairment review include significant nonperformance relative to the expected historical or projected future operating results, significant changes in the manner of the use of the acquired assets or the strategy for the overall business or significant negative industry or economic trends. Management uses judgment to determine whether to use a qualitative analysis or a quantitative fair value measurement for each of the Company’s reporting units that carry intangible assets. If a quantitative fair value measurement is used, the fair value of each indefinite-lived intangible asset is compared to its carrying value and an impairment charge is recorded if the carrying value exceeds the fair value. The Company estimates the fair value of indefinite-lived intangible assets using a discounted cash flow methodology. Management’s assumptions used for the calculations are based on historical results, projected financial information and recent economic events. Actual results could differ from these estimates under different assumptions or conditions which could adversely affect the reported value of intangible assets. The Company evaluates the recoverability of long-lived assets and the related estimated remaining lives whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Events or changes in circumstances that could trigger an impairment review include significant underperformance relative to the expected historical or projected future operating results, significant changes in the manner of the use of the acquired assets or the strategy for the overall business or significant negative industry or economic trends. The Company records an impairment or change in useful life whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed. Income Taxes The Company records, as an offset to the estimated effect of temporary differences between the tax basis of assets and liabilities and the reported amounts in its consolidated balance sheets, the tax effect of operating loss and tax credit carryforwards. If the Company determines that it will not be able to fully realize a deferred tax asset, it will record a valuation allowance to reduce such deferred tax asset to its realizable value. The Company recognizes interest accrued related to unrecognized tax benefits in income tax expense. Penalties, if incurred, would be recognized as a component of administrative and general expense. Revenue Recognition The Company's contracts with customers are comprised of purchase orders with standard terms and conditions. Occasionally the Company may also have longer-term agreements with customers. Substantially all of the contracts with customers require the delivery of metals which represent single performance obligations that are satisfied upon transfer of control of the product to the customer. Transfer of control is assessed based on the use of the product distributed and rights to payment for performance under the contract terms. Transfer of control and revenue recognition for substantially all of the Company’s sales occur upon shipment or delivery of the product, which is when title, ownership and risk of loss pass to the customer and is based on the applicable shipping terms. The shipping terms depend on the customer contract. An invoice for payment is issued at time of shipment and terms are generally net 30 days. The Company has certain fabrication contracts in one business unit for which revenue is recognized over time as performance obligations are achieved. This fabrication business is immaterial to the Company's consolidated results. Sales returns and allowances are treated as reductions to sales and are provided for based on historical experience and current estimates and are immaterial to the consolidated financial statements. Shipping and Handling Fees and Costs Amounts charged to customers for shipping and other transportation services are included in net sales. The distribution expense line on the accompanying Consolidated Statements of Comprehensive Income is entirely comprised of all shipping and other transportation costs incurred by the Company in shipping goods to its customers. Stock-Based Compensation The Company records compensation expense for stock awards issued to employees and directors. For additional information, see Note 11, Equity Plans. Impact of Recently Issued Accounting Pronouncements In August, 2018, the Financial Account Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2018 - 15, “Intangibles – Goodwill and other – Internal-use software: Customer’s accounting for implementation costs incurred in a cloud computing arrangement that is a service contract”. This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). Accordingly, this ASU requires an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350 - 40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. This ASU also requires the entity (customer) to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement, which includes reasonably certain renewals. For public business entities, this ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years with early adoption permitted. The Company early adopted ASU 2018 - 15 in the third quarter of 2018 and the adoption of this ASU did not materially impact the Company’s consolidated financial statements. In August 2017, the FASB issued ASU No 2017 - 12, “Derivatives and Hedging”. This ASU aligns an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. To meet that objective, this ASU expands and refines hedge accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. This ASU also makes certain targeted improvements to simplify the application of hedge accounting guidance and ease the administrative burden of hedge documentation requirements and assessing hedge effectiveness. This ASU is the final version of proposed ASU 2016 - 310, “Derivatives and Hedging (Topic 815 ): Targeted Improvements to Accounting for Hedging Activities”, which has been deleted. For public business entities, this ASU is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early application is permitted in any interim period after issuance of the ASU. All transition requirements and elections should be applied to hedging relationships existing (that is, hedging relationships in which the hedging instrument has not expired, been sold, terminated, or exercised or the entity has not removed the designation of the hedging relationship) on the date of adoption. The effect of adoption should be reflected as of the beginning of the fiscal year of adoption. The adoption of this ASU is not expected to materially impact the Company’s consolidated financial statements. In May 2017, the FASB issued ASU No 2017 - 09, “Compensation – Stock Compensation (Topic 718 )”. This ASU provides clarity and reduces both ( 1 ) diversity in practice and ( 2 ) cost and complexity when applying the guidance in Topic 718, Compensation – Stock Compensation, to a change to the terms or conditions of a share-based payment award. This ASU provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. This ASU is the final version of proposed ASU 2016 - 360, “Compensation—Stock Compensation (Topic 718 )—Scope of Modification Accounting,” which has been deleted. The amendments in this ASU are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The amendments in this ASU should be applied prospectively to an award modified on or after the adoption date. The adoption of this ASU did not materially impact the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016 - 02, “Leases,” which specifies the accounting for leases. The objective is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing and uncertainty of cash flows arising from a lease. This ASU introduces the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous guidance. The guidance is effective for annual reporting periods beginning after December 15, 2018 and interim periods within those fiscal years with early adoption permitted. The Company will adopt ASU No. 2016 - 02 as of January 1, 2019. The adoption of the guidance will impact the Company’s Consolidated Balance Sheets by the creation of right to use assets and lease liabilities in the range of $22 million to $27 million. The adoption of this ASU is not expected to have a material impact on the Company’s Statement of Comprehensive Income or on the Statement of Cash Flows. In August 2015, the FASB issued ASU 2015 - 14, “Revenue from Contracts with Customers (Topic 606 ): Deferral of the Effective Date,” which deferred the effective date of ASU 2014 - 09 for all entities by one year. The Company adopted this standard on January 1, 2018. The Company completed the process of evaluating the effect of the adoption and determined there were no material changes required to the reported revenues as a result of the adoption. Substantially all of the revenue arrangements consist of a single performance obligation to transfer goods. Based on the evaluation process and review of the contracts with customers, the timing and amount of revenue recognized based on ASU 2015 - 14 is consistent with the revenue recognition policy under previous guidance. The adoption of this ASU on January 1, 2018 using the modified retrospective approach applied to those contracts which were not completed as of January 1, 2018 did not have a material impact on the Company’s consolidated financial statements. Comparative information has not been restated and continues to be reported under the accounting standard in effect for those periods. The impact of adopting ASU 606 was not material to the Company’s consolidated financial statements as of and for the twelve months ended December 31, 2018. See Note 3, Revenue Recognition.

XML 23 R9.htm IDEA: XBRL DOCUMENT

Note 2 - Acquisitions

12 Months Ended

Dec. 31, 2018

Business Combination Disclosure [Text Block]

Acquisitions

April 2, 2018,

the Company acquired substantially all of the net assets of Berlin Metals, based in Hammond, Indiana, for

$21.9

million. Berlin Metals was founded in

1967

and is

one

of the largest North American service centers processing and distributing prime tin mill products and stainless steel strip in slit coil form. Berlin Metals is also a supplier of galvanized, light gauge cold rolled sheet and strip and other coated metals in coil forms, to customers in the building products, automotive and specialized industrial markets.

The acquisition is

not

considered significant and thus pro-forma information has

not

been provided. The acquisition was accounted for as a business combination and the assets were valued at fair market value. The table below summarizes the purchase price allocation of the fair market values of the assets acquired and liabilities assumed.

Details of Acquisition (in thousands)	As of April 2, 2018
Assets acquired
Accounts receivable, net	$	6,609
Inventories		14,769
Property and equipment		2,898
Prepaid expenses and other		345
Intangible assets		5,255
Total assets acquired		29,876
Total liabilities assumed		(7,969	)
Cash paid	$	21,907

not

limited to, the timing and amounts of future cash flows, revenue growth rates, discount rates, and royalty rates.

As of the effective date of the acquisition, Berlin Metals’ results are included in the Company’s specialty metals flat products segment in the Company’s

2018

financial results. Upon the acquisition, the Company entered into an amendment to its credit facility to include the eligible assets of Berlin Metals.

January 2, 2019,

the Company acquired all of the net assets of McCullough Industries (McCullough), based in Kenton, Ohio. McCullough was founded in

1965

and manufactures and sells branded self-dumping hoppers used in a variety of industrial applications. McCullough’s products are primarily sold through industrial distributors and catalogues.

The acquisition will be accounted for as a business combination and the assets valued at fair market value. The acquisition is

not

considered significant and McCullough’s results will be included in the Company’s carbon metals flat products segment in the Company’s

first

quarter of

2019

financial results. The acquisition is expected to be accretive to

2019

earnings. Upon the acquisition, the Company will be able to include the eligible assets of McCullough in its credit facility.

XML 24 R10.htm IDEA: XBRL DOCUMENT

Note 3 - Revenue Recognition

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Text Block]

Revenue Recognition

may

also have longer-term agreements with customers. Substantially all of the contracts with customers require the delivery of metals which represent single performance obligations that are satisfied upon transfer of control of the product to the customer.

days. The Company has certain fabrication contracts in

one

business unit for which revenue is recognized over time as performance obligations are achieved. This fabrication business is

not

material to the Company's consolidated results.

Within the metals industry, revenue is frequently disaggregated by products sold. The table below disaggregates the Company’s revenues by segment and products sold.

	Disaggregated Revenue by Products Sold
	For the Twelve Months Ended December 31, 2018
	Carbon flat products			Specialty metals flat products			Tubular and pipe products			Total
Hot Rolled		35.2	%		-			-			35.2	%
Plate		12.9	%		-			-			12.9	%
Cold Rolled		5.4	%		-			-			5.4	%
Coated		7.4	%		-			-			7.4	%
Specialty		-			20.0	%		-			20.0	%
Pipe & Tube		-			-			17.4	%		17.4	%
Other		1.7	%		0.0	%		-			1.7	%
Total		62.6	%		20.0	%		17.4	%		100.0	%

XML 25 R11.htm IDEA: XBRL DOCUMENT

Note 4 - Accounts Receivable	12 Months Ended
Note 4 - Accounts Receivable	Dec. 31, 2018
Notes to Financial Statements
Financing Receivables [Text Block]	4. Accounts Receivable: Accounts receivable are presented net of allowances for doubtful accounts and unissued credits of $3.9 million and $2.8 million as of December 31, 2018 and 2017, respectively. Bad debt expense totaled $0.6 million, $0.6 million and $0.4 million in 2018, 2017 and 2016, respectively. The Company’s allowance for doubtful accounts is maintained at a level considered appropriate based on historical experience and specific customer collection issues that the Company has identified. Estimations are based upon a calculated percentage of accounts receivable, which remains fairly level from year to year, and judgments about the probable effects of economic conditions on certain customers, which can fluctuate significantly from year to year. The Company cannot guarantee that the rate of future credit losses will be similar to past experience. The Company considers all available information when assessing the adequacy of its allowance for doubtful accounts.

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Note 5 - Inventories

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Text Block]

Inventories

Inventories consisted of the following:

As of December 31,
(in thousands)	2018		2017
Unprocessed	$	306,953	$	225,187
Processed and finished		61,785		50,120
Totals	$	368,738	$	275,307

During

2018

and

2017,

the Company recorded

$8.4

million and

$2.7

million, respectively, of LIFO expense as a result of increased metals pricing during

2018

and

2017.

The LIFO expense decreased the Company’s inventory balance and increased its cost of materials sold.

If the FIFO method had been in use, inventories would have been

$3.1

million higher and

$5.3

million lower than reported at

December 31, 2018

and

2017,

respectively.

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Note 6 - Property and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment Disclosure [Text Block]

Property and Equipment:

Property and equipment consists of the following:

(in thousands)	Depreciable Live			December 31, 2018			December 31, 2017

Land		-		$	15,881		$	15,881
Land improvements	5	-	10		3,547			3,270
Buildings and improvements	7	-	30		133,386			131,655
Machinery and equipment	2	-	15		205,826			184,683
Furniture and fixtures	3	-	7		6,374			6,298
Computer software and equipment	2	-	5		28,638			28,677
Vehicles	2	-	5		1,876			1,746
Capital lease					86			-
Construction in progress		-			8,171			4,500
					403,785			376,710
Less accumulated depreciation					(244,176	)		(229,062	)
Net property and equipment				$	159,609		$	147,648

Leasehold improvements are included with buildings and improvements and are depreciated over the life of the lease or

seven

years, whichever is less.

Construction in progress as of

December 31, 2018,

primarily consisted of payments for a building expansion and additional processing equipment at our existing facilities that were

not

yet placed into service.

During the

second

quarter of

2017,

the Company began actively marketing for sale certain property at the flat product segment’s Siler City, North Carolina facility. As a result of that decision, the Company reclassified

$0.8

million of net book value related to that property along with certain machinery and equipment as assets held for sale in the Consolidated Balance Sheets. The sale was completed in

July 2018.

XML 28 R14.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and

Intangible Assets

The Company’s intangible assets were recorded in connection with its

2018

acquisition of Berlin Metals and its

2011

acquisition of CTI. The intangible assets were evaluated on the premise of highest and best use to a market participant, primarily utilizing the income approach valuation methodology. The useful life of the customer relationships were determined to be

fifteen

years, based primarily on the consistent and predictable revenue source associated with the existing customer base, the present value of which extends through the

fifteen

-year amortization period. The useful life of the trade names were determined to be indefinite primarily due to their history and reputation in the marketplace, the Company’s expectation that the trade names will continue to be used, and the conclusion that there are currently

other factors identified that would limit its useful life. The Company will continue to evaluate the useful life assigned to our amortizable customer relationships in future periods.

Goodwill, by reportable segment, was as follows as of

December 31, 2018

and

2017,

respectively. The goodwill is deductible for tax purposes.

(in thousands)	Carbon Flat Products		Specialty Metals Flat Products		Tubular and Pipe Products		Total

Balance as of December 31, 2017	$	-	$	-	$	-	$	-
Acquisitions		-		2,358		-		2,358
Impairments		-		-		-		-
Balance as of December 31, 2018	$	-	$	2,358	$	-	$	2,358

During

2018

and

2017,

a step

zero

test was performed for the indefinitely lived intangible assets and

indication of impairment was present.

Intangible assets, net, consisted of the following as of

December 31, 2018

and

2017,

respectively:

	As of December 31, 2018
(in thousands)	Gross Carrying Amount		Acquisitions		Accumulated Amortization			Intangible Assets, Net

Customer relationships - subject to amortization	$	13,332	$	640	$	(6,698	)	$	7,274
Covenant not to compete - subject to amortization		-		157		(42	)		115
Trade names - not subject to amortization		15,425		2,100		-			17,525
	$	28,757	$	2,897	$	(6,740	)	$	24,914

	As of December 31, 2017
(in thousands)	Gross Carrying Amount		Acquisitions		Accumulated Amortization			Intangible Assets, Net

Customer relationships - subject to amortization	$	13,332	$	-	$	(5,777	)	$	7,555
Trade names - not subject to amortization		15,425		-		-			15,425
	$	28,757	$	-	$	(5,777	)	$	22,980

The Company estimates that amortization expense for its intangible assets subject to amortization will be approximately

$1.0

million per year in each of the next

five

years.

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Note 8 - Debt

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Text Block]

Debt:

The Company’s debt is comprised of the following components:

	As of December 31,
(in thousands)	2018		2017
Asset-based revolving credit facility due December 8, 2022	$	302,530	$	196,235
Industrial revenue bond due April 1, 2018		-		930
Total debt		302,530		197,165
Less current amount		-		(930	)
Total long-term debt	$	302,530	$	196,235

November 30, 2018,

the Company amended its Third Amended and Restated Loan and Security Agreement and entered into its existing Joinder and Second Amendment to Third Amended and Restated Loan and Security Agreement (the “ABL Credit Facility”). The amendment increased the revolving credit facility by

$75

million and includes the assets acquired from McCullough on

January 2, 2019.

The ABL Credit Facility provides for, among other things: (i) a revolving credit facility of up to

$445

million, including a

$20

million sub-limit for letters of credit and (ii) a

first

in, last out revolving credit facility of up to

$30

million. Under the terms of the ABL Credit Facility, the Company

may,

subject to the satisfaction of certain conditions, request additional commitments under the revolving credit facility in the aggregate principal amount of up to

$200

million to the extent that existing or new lenders agree to provide such additional commitments. The ABL Credit Facility matures on

December 8, 2022.

$30

million or

10.0%

of the aggregate amount of revolver commitments (

$47.5

million at

December 31, 2018)

10.0%

of the aggregate borrowing base (

$44.4

million at

December 31, 2018)

then the Company must maintain a ratio of Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) minus certain capital expenditures and cash taxes paid to fixed charges of at least

1.00

for the most recent

twelve

fiscal month period.

The Company has the option to borrow under its revolver based on the agent’s base rate plus a premium ranging from

0.00%

0.25%

or the London Interbank Offered Rate (LIBOR) plus a premium ranging from

1.25%

2.75%.

As of

December 31, 2018

the Company was in compliance with its covenants and had approximately

$139.3

million of availability under the ABL Credit Facility.

As of

December 31, 2018,

$1.6

million of bank financing fees were included in “Prepaid expenses and other” and “Other long-term assets” on the accompanying Consolidated Balance Sheets. The financing fees are being amortized over the

five

-year term of the ABL Credit Facility and are included in “Interest and other expense on debt” on the accompanying Consolidated Statements of Comprehensive Income.

As part of the CTI acquisition in

July 2011,

the Company assumed approximately

$5.9

million of Industrial Revenue Bond (IRB) indebtedness. On

March 1, 2018,

the Company made the final

$0.9

million payment on the IRB and the letter of credit and fixed interest rate swap associated with the IRB were terminated.

Scheduled Debt Maturities, Interest, Debt Carrying Values

The Company’s principal payments over the next

five

years are detailed in the table below:

(in thousands)	2019		2020		2021		2022		2023		Total		Total
ABL Credit Facility	$	-	$	-	$	-	$	302,530	$	-	$	302,530	$	605,060
Total principal payments	$	-	$	-	$	-	$	302,530	$	-	$	302,530	$	605,060

The overall effective interest rate for all debt, exclusive of deferred financing fees and deferred commitment fees, amounted to

3.7%,

3.0%

and

2.4%

2018,

2017

and

2016,

respectively. Interest paid totaled

$10.2

million,

$6.4

million and

$4.3

million for the years ended

December 31, 2018,

2017

and

2016,

respectively. Average total debt outstanding was

$275.3

million,

$200.6

million and

$152.5

million in

2018,

2017

and

2016,

respectively.

XML 30 R16.htm IDEA: XBRL DOCUMENT

Note 9 - Derivative Instruments

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Text Block]

Derivative Instruments:

Metals swaps

During

2018,

2017

and

2016,

the Company entered into nickel swaps indexed to the London Metal Exchange (LME) price of nickel with

third

-party brokers. The nickel swaps are treated as derivatives for accounting purposes and are included in “Other accrued liabilities” and “Prepaid expenses and other” on the Consolidated Balance Sheet at

December 31, 2018

and

2017.

The Company entered into the swaps to mitigate its customers’ risk of volatility in the price of metals. The outstanding nickel swaps have

one

eleven

months remaining as of

December 31, 2018.

The swaps are settled with the brokers at maturity. The economic benefit or loss arising from the changes in fair value of the swaps is contractually passed through to the customer. The primary risk associated with the metals swaps is the ability of customers or

third

-party brokers to honor their agreements with the Company related to derivative instruments. If the customer or

third

-party brokers are unable to honor their agreements, the Company’s risk of loss is the fair value of the metals swaps.

While these derivatives are intended to help the Company manage risk, they have

not

been designated as hedging instruments. The periodic changes in fair value of the metals and embedded customer derivative instruments are included in “Cost of materials sold” in the Consolidated Statements of Comprehensive Income. The Company recognizes derivative positions with both the customer and the

third

party for the derivatives and classifies cash settlement amounts associated with them as part of “Cost of materials sold” in the Consolidated Statements of Comprehensive Income. The cumulative change in fair value of the metals swaps that have

not

yet settled as of

December 31, 2018

are included in “Other accrued liabilities”, and the embedded customer derivatives are included in “Accounts Receivable, net” on the Consolidated Balance Sheets at

December 31, 2018.

The cumulative change in fair value of the metals swaps that had

not

yet settled as of

December 31, 2017

were included in “Accounts Receivable, net”, and the embedded customer derivatives were included in “Other accrued liabilities” on the Consolidated Balance Sheets at

December 31, 2017.

Interest rate swap

CTI entered into an interest rate swap to reduce the impact of changes in interest rates on its IRB. The swap agreement matured in

April 2018.

Fixed rate interest rate hedge

June 2012,

the Company entered into a forward starting fixed rate interest rate hedge commencing

June 2013

in order to eliminate the variability of cash interest payments on

$53.2

million of the then outstanding LIBOR-based borrowings under the ABL Credit Facility. The hedge, which matured on

June 1, 2016,

fixed the rate at

1.21%

plus a premium ranging from

1.25%

1.75%.

The fixed rate interest rate hedge was accounted for as a cash flow hedging instrument for accounting purposes.

There was

net impact from the nickel swaps or embedded customer derivative agreements to the Company’s Consolidated Statements of Comprehensive Income for the years ended

December 31, 2018,

2017

and

2016.

The table below shows the total impact to the Company’s Consolidated Statements of Comprehensive Income through “Net income (loss)” of the derivatives for the years ended

December 31, 2018,

2017

and

2016.

	Net Gain (Loss) Recognized
(in thousands)	2018			2017			2016
Interest rate swap (CTI)	$	(5	)	$	(31	)	$	(66	)
Fixed interest rate swap (ABL)		-			-			(98	)
Metals swaps		(79	)		475			68
Embedded customer derivatives		79			(475	)		(68	)
Total loss	$	(5	)	$	(31	)	$	(164	)

XML 31 R17.htm IDEA: XBRL DOCUMENT

Note 10 - Fair Value of Assets and Liabilities

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Text Block]

10.

Fair Value of

Assets and Liabilities

During

2018

and

2017,

there were

transfers of financial assets between Levels

fair value measurements. There have been

changes in the methodologies used at

December 31, 2018

and

December

31,

2017.

Following is a description of the valuation methodologies used for assets and liabilities measured at fair value as of

December 31, 2018

and

December

31,

2017:

Metals swaps and embedded customer derivatives

– Determined by using Level

inputs that include the price of nickel indexed to the LME and the price of Hot Rolled Coil Steel indexed to the NYMEX. The fair value is determined based on quoted market prices and reflects the estimated amounts the Company would pay or receive to terminate the nickel swaps.

Interest rate swap

– Based on the present value of the expected future cash flows, considering the risks involved, and using discount rates appropriate for the maturity date. Market observable Level

inputs are used to determine the present value of future cash flows.

	Value of Items Recorded at Fair Value
	As of December 31, 2018
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Embedded customer derivatives	$	-	$	21	$	-	$	21
Total assets at fair value	$	-	$	21	$	-	$	21

Liabilities:
Metal swaps	$	-	$	21	$	-	$	21
Total liabilities recorded at fair value	$	-	$	21	$	-	$	21

	Value of Items Not Recorded at Fair Value
	As of December 31, 2018
(in thousands)	Level 1		Level 2		Level 3		Total
Liabilities:
ABL Credit Facility		-		302,530		-		302,530
Total liabilities not recorded at fair value	$	-	$	302,530	$	-	$	302,530

The value of the items

not

recorded at fair value represent the carrying value of the liabilities.

	Value of Items Recorded at Fair Value
	As of December 31, 2017
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Metal Swaps	$	-	$	382	$	-	$	382
Total assets at fair value	$	-	$	382	$	-	$	382

Liabilities:
Embedded customer derivatives	$	-	$	382	$	-	$	382
Interest rate swap (CTI)		-		5		-		5
Total liabilities recorded at fair value	$	-	$	387	$	-	$	387

	Value of Items Not Recorded at Fair Value
	As of December 31, 2017
(in thousands)	Level 1		Level 2		Level 3		Total
Liabilities:
IRB	$	930	$	-	$	-	$	930
ABL Credit Facility		-		196,235		-		196,235
Total liabilities not recorded at fair value	$	930	$	196,235	$	-	$	197,165

The value of the items

not

recorded at fair value represent the carrying value of the liabilities.

The fair value of the IRB is determined using Level

inputs. The carrying value and the fair value of the IRB that qualify as financial instruments were

$0.9

million at

December 31, 2017.

The fair value of the ABL Credit Facility is determined using Level

inputs. The carrying value of the ABL Credit Facility was

$302.5

million and

$196.2

million at

December 31, 2018

and

2017,

respectively. Because the ABL Credit Facility was amended on

November 30, 2018,

management believes that it is carried at fair value.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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Note 11 - Equity Plans

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

11.

Equity Plans

Restricted Stock Units and Performance Share Units

Pursuant to the Amended and Restated Olympic Steel

2007

Omnibus Incentive Plan (the Incentive Plan), the Company

may

grant stock options, stock appreciation rights, restricted shares, restricted share units, performance shares, and other stock- and cash-based awards to employees and directors of, and consultants to, the Company and its affiliates. Since adoption of the Incentive Plan,

1,000,000

shares of common stock have been authorized for equity grants.

2018

and

2017

were

$80,000

and

$70,000,

respectively. Subject to the terms of the Plan and the RSU agreement, the RSUs vest after

one

year of service (from the date of grant). The RSUs are

not

converted into shares of common stock until the director either resigns or is terminated from the board of directors.

July 1, 2016,

the Company created a new Senior Management Stock Incentive Program (the Plan) for certain participants. Under the Plan, each participant is awarded RSUs with a dollar value equal to

10%

of the participant’s base salary, up to an annual maximum of

$17,500.

The RSUs have a

five

-year vesting period and the RSUs will convert into the right to receive shares of common stock upon a participant’s retirement, or earlier upon the participant’s death or disability or upon a change in control of the Company. The carbon and specialty metals flat products segments adopted the Plan on

July 1, 2016

and the tubular and pipe products segment adopted the Plan on

January 1, 2017.

Stock-based compensation expense recognized on RSUs for the

three

years ended

December 31, 2018,

2017

and

2016,

respectively, is summarized in the following table:

	For the years ended December 31,
(in thousands)	2018		2017		2016
RSU expense before taxes of New Plan	$	643	$	560	$	42
RSU (income) expense before taxes of Old Plan		-		-		(73	)
RSU (income) expense after taxes		471		636		81

All pre-tax charges related to RSUs were included in the caption “Administrative and general” on the accompanying Consolidated Statements of Comprehensive Income.

The following table summarizes the activity related to RSUs for the

twelve

months ended

December 31, 2018:

	Number of Shares			Weighted Average Estimated Fair Value
Outstanding at December 31, 2017		469,069		$	20.11
Granted		84,283			22.33
Converted into shares		(19,097	)		16.09
Forfeited		(6,709	)		16.98
Outstanding at December 31, 2018		527,546		$	20.65
Vested at December 31, 2018		436,069		$	20.42

Of the RSUs granted in

2018,

2017

and

2016,

38,052,

26,837

and

51,075,

respectively, were used to fund supplemental executive retirement plan (SERP) contributions.

XML 33 R19.htm IDEA: XBRL DOCUMENT

Note 12 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Text Block]

12.

Commitments and Contingencies

Operating Leases

The Company leases certain warehouses, sales offices, machinery and equipment and vehicles under long-term operating lease agreements. The leases expire at various dates through

2026.

In some cases, the leases include options to extend. Rent and lease expense was

$11.9

million,

$9.7

million and

$9.1

million for the years ended

December 31, 2018,

2017

and

2016,

respectively.

The future annual minimum lease payments as of

December 31, 2018

are as follows:

(in thousands)		2019				2020				2021				2022				2023				Thereafter				Total
Lease payments		$	6,155			$	5,405			$	4,681			$	3,706			$	2,858			$	5,057			$	27,862

Commitments and Contingencies

not

have a material adverse effect upon its results of operations, financial condition or cash flows. During

2017,

the Company recorded

$1.0

million related to a settlement of a commercial dispute. The amount was included in “Administrative and general” expenses in the Consolidated Statements of Comprehensive Income. During

2016,

the Company paid

$1.7

million related to an arbitration decision for a

2015

foreign steel purchase. The amount was included in “Cost of materials sold” in the Consolidated Statements of Comprehensive Income.

In the normal course of business, the Company periodically enters into agreements that incorporate indemnification provisions. While the maximum amount to which the Company

may

be exposed under such agreements cannot be estimated, it is the opinion of management that these indemnifications are

not

expected to have a material adverse effect on the Company’s results of operations or financial condition.

December 31, 2018,

approximately

315

of the hourly plant personnel are represented by

nine

separate collective bargaining units. The table below shows the expiration dates of the collective bargaining agreements.

Facility	Expiration date
Hammond, Indiana	November 30, 2019
Locust, North Carolina	March 4, 2020
Romeoville, Illinois	May 31, 2020
Minneapolis coil, Minnesota	September 30, 2020
Indianapolis, Indiana	January 29, 2021
St. Paul, Minnesota	May 25, 2021
Milan, Illinois	August 12, 2021
Minneapolis plate, Minnesota	March 31, 2022
Detroit, Michigan	August 31, 2022

XML 34 R20.htm IDEA: XBRL DOCUMENT

Note 13 - Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Text Block]

13.

Income Taxes:

The components of the Company’s provision (benefit) for income taxes from continuing operations were as follows:

	As of December 31,
(in thousands)	2018		2017			2016
Current:
Federal	$	9,188	$	7,695		$	2,563
State and local		1,797		666			929
		10,985		8,361			3,492
Deferred		1,320		(10,974	)		(1,994	)
Income tax provision (benefit)	$	12,305	$	(2,613	)	$	1,498

The components of the Company’s deferred income taxes at

December 31

are as follows:

(in thousands)	2018			2017
Deferred tax assets:
Inventory (excluding LIFO reserve)	$	1,622		$	1,690
Net operating loss and tax credit carryforwards		2,498			3,520
Allowance for doubtful accounts		504			419
Accrued expenses		6,087			5,684
Other		232			143
Deferred tax assets before valuation allowance		10,943			11,456
Valuation allowance		(2,055	)		(2,379	)
Total deferred tax assets		8,888			9,077

Deferred tax liabilities:
LIFO reserve		(3,870	)		(3,958	)
Property and equipment		(13,625	)		(11,363	)
Intangibles		(4,858	)		(5,901	)
Total deferred tax liabilities		(22,353	)		(21,222	)
Deferred tax liabilities, net	$	(13,465	)	$	(12,145	)

The following table summarizes the activity related to the Company’s gross unrecognized tax benefits:

(in thousands)	2018			2017			2016
Balance as of January 1	$	40		$	38		$	38
Change in tax due to tax law		(12	)		-			-
Increases related to current year tax positions		9			15			13
Decreases related to lapsing of statute of limitations		(10	)		(13	)		(13	)
Balance as of December 31	$	27		$	40		$	38

It is expected that the amount of unrecognized tax benefits will

not

materially change in the next

twelve

months. The tax years

2015

through

2017

remain open to examination by major taxing jurisdictions to which the Company is subject.

The Company recognized interest related to uncertain tax positions in income tax expense.

The following table reconciles the U.S. federal statutory rate to the Company’s effective tax rate:

	2018			2017			2016
U.S. federal statutory rate in effect		21.0	%		35.0	%		35.0	%
State and local taxes, net of federal benefit		4.6	%		3.6	%		11.8	%
Sec. 199 manufacturing deduction		-			(3.8	%)		(33.6	%)
Meals and entertainment		0.6	%		1.8	%		64.3	%
Tax credits		(0.6	%)		(1.3	%)		(48.7	%)
Change in valuation allowance		-			0.6	%		205.4	%
Change in U.S. federal statutory rate		-			(37.7	%)		-
Change in tax affect of SERP		-			(11.4	%)		-
All other, net		1.1	%		(2.8	%)		122.4	%
Effective income tax rate		26.7	%		(16.0	%)		356.6	%

December 22, 2017,

the President of the United States signed into law the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act, among other things, lowered the U.S. corporate income tax rate from

35%

21%

effective

January 1, 2018.

Consequently, the Company decreased its net deferred tax liability as of

December 31, 2017

$6.2

million resulting in an income tax benefit to reflect the estimated impact of the Tax Act. Based on the Company’s predominantly U.S. based operational footprint, additional international and minimum tax provisions under the Tax Act, including the

one

-time transition tax for the transition from the worldwide system to the territorial system, are

not

applicable, or would

not

be material to the Company.

2017,

the Company made an out-of-period adjustment to correct and record previously unrecognized deferred tax assets, and the associated tax benefit, related to a portion of the SERP that had previously been considered non-deductible under Section

162

(m) limitations in prior years. Due to the mandatory waiting period of

six

months prior to any SERP payment distribution, in

2017

the Company determined that the Section

162

(m) non-deductibility limitations did

not

apply. The adjustment, which had accumulated since the inception of the SERP in

2005,

resulted in an increase to after-tax income of

$1.9

million in

2017.

The Company determined that this adjustment was

not

material to its current or prior period consolidated financial statements.

The calculation of the impact as a result of the reduced U.S. corporate income tax rate is complete The effective tax rate in

2018

26.7%

is in line with management expectations based on interpretations of the Tax Act.

The Company's effective tax rate was disproportionately high in

2016

from comparative periods due to low income before taxes relative to items that impact the effective tax rate. During

2016,

the Company recorded a valuation allowance of

$0.9

million to reduce certain state deferred tax assets to the amount that is more likely than

not

to be realized.

Income taxes paid in

2018,

2017

and

2016

totaled

$11.3

million,

$9.4

million and

$1.0

million, respectively. Some subsidiaries of the Company’s consolidated group file state tax returns on a separate company basis and have state net operating loss carryforwards expiring over the next

two

years. A valuation allowance is recorded to reduce certain deferred tax assets to the amount that is more likely than

not

to be realized.

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Note 14 - Shares Outstanding and Earnings Per Share

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Text Block]

14.

Shares Outstanding and Earnings Per Share:

Earnings per share have been calculated based on the weighted average number of shares outstanding as set forth below:

	For the years ended December 31,
(in thousands, except per share data)	2018		2017		2016

Weighted average basic shares outstanding		11,432		11,381		11,210
Assumed exercise of stock options and issuance of stock awards		8		-		-
Weighted average diluted shares outstanding		11,440		11,381		11,210

Net income (loss)	$	33,759	$	18,963	$	(1,078	)

Basic earnings (loss) per share	$	2.95	$	1.67	$	(0.10	)
Diluted earnings (loss) per share	$	2.95	$	1.67	$	(0.10	)

Unvested RSUs		91		65		167

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Note 15 - Stock Repurchase Program	12 Months Ended
Note 15 - Stock Repurchase Program	Dec. 31, 2018
Notes to Financial Statements
Treasury Stock [Text Block]	15. Stock Repurchase Program: On October 2, 2015, the Company announced that its Board of Directors authorized a stock repurchase program of up to 550,000 shares of the Company’s issued and outstanding common stock, which could include open market repurchases, negotiated block transactions, accelerated stock repurchases or open market solicitations for shares, all or some of which may be effected through Rule 10b5 - 1 plans. Any of the repurchased shares are held in the Company’s treasury, or canceled and retired as the Board may determine from time to time. Any repurchases of common stock are subject to the covenants contained in the ABL Credit Facility. Under the ABL Credit Facility, the Company may repurchase common stock and pay dividends up to $5.0 million in the aggregate during any trailing twelve months without restrictions. Purchases of common stock or dividend payments in excess of $5.0 million in the aggregate require the Company to (i) maintain availability in excess of 20.0% of the aggregate revolver commitments ( $95.0 million at December 31, 2018) or (ii) to maintain availability equal to or greater than 15.0% of the aggregate revolver commitments ( $71.3 million at December 31, 2018) and the Company must maintain a pro-forma ratio of EBITDA minus certain capital expenditures and cash taxes paid to fixed charges of at least 1.00 to 1.00. There were no shares repurchased during 2018, 2017 or 2016.

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Note 16 - Segment Information

12 Months Ended

Dec. 31, 2018

Segment Reporting Disclosure [Text Block]

16.

Segment Information:

The Company operates in

three

reportable segments; carbon flat products, specialty metals flat products, and tubular and pipe products. The flat products segments’ assets and resources are shared by the carbon and specialty metals segments and both segments’ products are stored in the shared facilities and, in some locations, processed on shared equipment. As such, total assets and capital expenditures are reported in the aggregate for the flat products segments. Due to the shared assets and resources, certain of the flat products segment expenses are allocated between the carbon flat products segment and the specialty metals flat products segment based upon an established allocation methodology. Through its carbon flat products segment, the Company sells and distributes large volumes of processed carbon and coated flat-rolled sheet, coil and plate products. Through its specialty metals flat products segment, the Company sells and distributes processed aluminum and stainless flat-rolled sheet and coil products, flat bar products and fabricated parts. Through its acquisition of Berlin Metals on

April 2, 2018,

the specialty metals flat products segment expanded its product offerings to include prime tin mill products. Through its tubular and pipe products segment, the Company distributes metal tubing, pipe, bar, valve and fittings and fabricates pressure parts supplied to various industrial markets.

Corporate expenses are reported as a separate line item for segment reporting purposes. Corporate expenses include the unallocated expenses related to managing the entire Company (i.e., all

three

segments), including compensation for certain personnel, expenses related to being a publicly traded entity such as board of directors’ expenses, audit expenses, and various other professional fees.

The following table provides financial information by segment and reconciles the Company’s operating income by segment to the consolidated income before income taxes for the years ended

December 31, 2018,

2017

and

2016.

	For the Year Ended December 31,
(in thousands)	2018			2017			2016
Net sales
Carbon flat products	$	1,073,292		$	869,628		$	670,983
Specialty metals flat products		343,479			227,200			189,930
Tubular and pipe products		298,310			233,868			194,203
Total net sales	$	1,715,081		$	1,330,696		$	1,055,116

Depreciation and amortization
Carbon flat products	$	10,621		$	10,906		$	11,690
Specialty metals flat products		1,251			811			797
Tubular and pipe products		5,601			5,659			5,896
Corporate		135			102			102
Total depreciation and amortization	$	17,608		$	17,478		$	18,485

Operating income
Carbon flat products	$	44,354		$	17,886		$	(4,371	)
Specialty metals flat products		15,248			11,240			9,841
Tubular and pipe products		11,520			4,568			7,713
Corporate		(14,070	)		(9,708	)		(7,435	)
Total operating income	$	57,052		$	23,986		$	5,748
Other loss, net		(307	)		(118	)		(55	)
Income before interest and income taxes		56,745			23,868			5,693
Interest and other expense on debt		10,681			7,518			5,273
Income before income taxes	$	46,064		$	16,350		$	420

	For the Year Ended December 31,
(in thousands)	2018		2017		2016
Capital expenditures
Flat products	$	19,985	$	7,325	$	5,105
Tubular and pipe products		5,242		2,833		1,719
Corporate		488		2		-
Total capital expenditures	$	25,715	$	10,160	$	6,824

Assets
Flat products	$	560,116	$	409,116
Tubular and pipe products		200,016		194,787
Corporate		608		255
Total assets	$	760,740	$	604,158

There were

material revenue transactions between the carbon flat products, specialty metals flat products and tubular and pipe products segments for the years ended

December 31, 2018,

2017

and

2016.

The Company sells certain products internationally, primarily in Canada and Mexico. International sales are immaterial to the consolidated financial results and to the individual segments’ results.

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Note 17 - Retirement Plans	12 Months Ended
Note 17 - Retirement Plans	Dec. 31, 2018
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	17. Retirement Plans : The Company’s retirement plans consist of two 401 (k) plans covering certain non-union employees, two separate 401 (k) plans covering all union employees, a multi-employer pension plan covering certain CTI employees and a SERP covering certain executive officers of the Company. The 401 (k) retirement plans allow eligible employees to contribute up to the statutory maximum. The Company’s non-union 401 (k) matching contribution is determined annually by the Board of Directors and is based on a percentage of eligible employees’ earnings and contributions. For the 401 (k) retirement plans, the Company matched one -half of each eligible employee’s contribution, limited to the first 6% of eligible compensation. In 2005, the Board of Directors adopted a SERP, which has been amended from time to time. Contributions to the SERP are based on: (i) a portion of the participants’ compensation multiplied by a factor of 6.5% or 13% depending on participant; and (ii) for certain participants a portion of the participants’ compensation multiplied by a factor which is contingent upon the Company’s return on invested capital. Benefits are subject to a vesting schedule of up to five years. The Company, through its CTI subsidiary, contributes to a multiemployer pension plan. CTI contributes to the Multiemployer Plan under the terms of a collective bargaining agreement that covers certain of its union employees, and which expires May 31, 2020. CTI contributions to the Multiemployer Plan were immaterial for the years ended December 31, 2018 and 2017. Retirement plan expense, which includes all Company 401 (k), SERP defined contributions and the Multiemployer Plan, amounted to $3.2 million, $2.6 million and $2.2 million for the years ended December 31, 2018, 2017 and 2016, respectively. The fair values of the Company's SERP assets as of December 31, 2018 were $5.7 million and are measured at Net Asset Value (NAV) as a practical expedient to estimate fair value and therefore are not classified in the fair value hierarchy. Under the practical expedient approach, the NAV is based on the fair value of the underlying investments held by each fund less its liabilities. This practical expedient would not be used when it is determined to be probable that the fund will sell the investment for an amount different than the reported NAV. The fair value of the SERP assets are included in Other Long Term Assets on the consolidated Balance Sheets.

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Note 18 - Related-party Transactions	12 Months Ended
Note 18 - Related-party Transactions	Dec. 31, 2018
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	18. Related-Party Transactions : The Company’s Executive Chairman of the Board owns 50% of an entity that owns one of the Cleveland warehouses and leases it to the Company at a fair market value annual rental of $0.2 million. The lease expires on December 31, 2023 with three five -year renewal options.

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Note 19 - Subsequent Event	12 Months Ended
Note 19 - Subsequent Event	Dec. 31, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	19. Subsequent Event : On January 2, 2019, the Company acquired all of the net assets of McCullough, based in Kenton, Ohio. McCullough was founded in 1965 and manufactures and sells branded self-dumping hoppers used in a variety of industrial applications. McCullough’s products are primarily sold through industrial distributors and catalogues. The acquisition will be accounted for as a business combination and the assets valued at fair market value. The acquisition is not considered significant and McCullough results will be included in the Company’s carbon metals flat products segment in the Company’s first quarter of 2019 financial results. In connection with the closing of the acquisition, the Company has included the eligible assets of McCullough in its credit facility.

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Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

Schedule II – Valuation and Qualifying Accounts

(in thousands)

			Additions
Description	Balance at Beginning of Period		Charged to Costs and Expenses		Charged to Other Accounts		Deductions			Balance at End of Period
Year Ended December 31, 2016
Allowance for doubtful accounts	$	1,299	$	369	$	-	$	(283	)	$	1,385
Tax valuation reserve	$	1,030	$	987	$	-	$	-		$	2,017

Year Ended December 31, 2017
Allowance for doubtful accounts	$	1,385	$	641	$	-	$	(416	)	$	1,610
Tax valuation reserve	$	2,017	$	362	$	-	$	-		$	2,379

Year Ended December 31, 2018
Allowance for doubtful accounts	$	1,610	$	575	$	-	$	(245	)	$	1,940
Tax valuation reserve	$	2,379	$	-	$	-	$	(324	)	$	2,055

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Schedule III - Supplemental Financial Information

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information [Text Block]

SUPPLEMENTAL FINANCIAL INFORMATION

(in thousands, except per share data)

(unaudited)

2018	1st quarter		2nd quarter		3rd quarter		4th quarter			Year
Net sales	$	375,598	$	452,917	$	456,976	$	429,590		$	1,715,081
Operating income (a)		12,345		24,319		18,614		1,774			57,052
Income (loss) before income taxes		10,313		21,556		15,708		(1,512	)		46,065
Net income (loss)	$	7,629	$	15,848	$	11,599	$	(1,316	)	$	33,759
Basic net income (loss) per share	$	0.67	$	1.39	$	1.01	$	(0.11	)	$	2.95
Weighted average shares outstanding - basic		11,418		11,435		11,444		11,444			11,432
Diluted net income (loss) per share	$	0.67	$	1.39	$	1.01	$	(0.11	)	$	2.95
Weighted average shares outstanding - diluted		11,418		11,435		11,446		11,444			11,440
Market price of common stock: (c)
High	$	25.84	$	24.27	$	24.23	$	21.41		$	25.84
Low		19.75		19.75		19.92		13.72			13.72

2017	1st quarter		2nd quarter		3rd quarter		4th quarter			Year
Net sales	$	334,893	$	356,195	$	331,442	$	308,166		$	1,330,696
Operating income (loss) (d)		11,051		9,633		5,286		(1,984	)		23,986
Income (loss) before income taxes		9,399		7,817		3,298		(4,164	)		16,350
Net income (b)	$	7,699	$	4,797	$	2,280	$	4,187		$	18,963
Basic net income per share	$	0.68	$	0.42	$	0.20	$	0.37		$	1.67
Weighted average shares outstanding - basic		11,369		11,383		11,386		11,389			11,381
Diluted net income per share	$	0.68	$	0.42	$	0.20	$	0.37		$	1.67
Weighted average shares outstanding - diluted		11,369		11,390		11,386		11,391			11,381
Market price of common stock: (c)
High	$	27.93	$	24.00	$	22.44	$	22.86		$	27.93
Low		18.05		15.83		16.58		18.10			15.83

(a) Operating income (loss) in 2018 includes $8,408 of LIFO expense related to the Company's tubular and pipe products segment.
(b) Includes a $6.2 million tax benefit related to the U.S. Tax Cuts and Jobs Act.
(c) Represents the high and low sales prices of our common stock as reported by the Nasdaq Global Select Market.
(d) Operating income (loss) in 2017 includes $2,707 of LIFO expense related to the Company's tubular and pipe products segment.

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Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2018
Accounting Policies [Abstract]
Nature of Business, Policy [Policy Text Block]	Nature of Business The Company operates in three reportable segments; carbon flat products, specialty metals flat products, and tubular and pipe products. The carbon flat products segment and the specialty metals flat products segments are at times consolidated and referred to as the flat products segments. Certain of the flat products segments’ assets and resources are shared by the carbon and specialty metals segments and both segments’ products are stored in the shared facilities and, in some locations, processed on shared equipment. Due to the shared assets and resources, certain of the flat products segment expenses are allocated between the carbon flat products segment and the specialty metals flat products segment based upon an established allocation methodology. Through its carbon flat products segment, the Company sells and distributes large volumes of processed carbon and coated flat-rolled sheet, coil and plate products, and fabricated parts. Through its specialty metals flat products segment, the Company sells and distributes processed aluminum and stainless flat-rolled sheet and coil products, flat bar products and fabricated parts. Through its acquisition of Berlin Metals, LLC (Berlin Metals) on April 2, 2018, the specialty metals flat products segment expanded its product offerings to include differing types of stainless flat-rolled sheet and coil and prime tin mill products. Through its tubular and pipe products segment, which consists of the Chicago Tube and Iron subsidiary (CTI), the Company distributes metal tubing, pipe, bar, valves and fittings and fabricate pressure parts supplied to various industrial markets.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation and Basis of presentation The accompanying consolidated financial statements include the accounts of Olympic Steel, Inc. and its wholly-owned subsidiaries (collectively, the Company or Olympic), after elimination of intercompany accounts and transactions.
Use of Estimates, Policy [Policy Text Block]	Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration Risks The Company is a major customer of flat-rolled coil and plate and tubular and pipe steel for many of its principal suppliers, but is not dependent on any one supplier. The Company purchased approximately 52%, 53% and 54% of its total steel requirements from its three largest suppliers in 2018, 2017 and 2016, respectively. The Company has a diversified customer and geographic base, which reduces the inherent risk and cyclicality of its business. The concentration of net sales to the Company’s top 20 customers approximated 29%, 27% and 29% of consolidated net sales in 2018, 2017 and 2016, respectively. In addition, the Company’s largest customer accounted for approximately 5%, 4% and 4% of consolidated net sales in 2018, 2017 and 2016, respectively. Sales to industrial machinery and equipment manufacturers and their fabricators accounted for 48%, 51% and 51% of consolidated net sales in 2018, 2017 and 2016, respectively.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash equivalents consist of short-term highly liquid investments, with a three month or less maturity, which are readily convertible into cash.
Fair Value Measurement, Policy [Policy Text Block]	Fair Market Value Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the liability in an orderly transaction between market participants on the measurement date. Valuation techniques must maximize the use of observable inputs and minimize the use of unobservable inputs. To measure fair value, the Company applies a fair value hierarchy that is based on three levels of inputs, of which the first two are considered observable and the last unobservable, as follows: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Financial instruments, such as cash and cash equivalents, accounts receivable, accounts payable and the credit facility, are stated at their carrying value, which is a reasonable estimate of fair value. The fair value of marketable securities is based on quoted market prices.
Trade and Other Accounts Receivable, Policy [Policy Text Block]	Accounts Receivable The Company’s allowance for doubtful accounts is maintained at a level considered appropriate based on historical experience and specific customer collection issues that the Company has identified. Estimations are based upon the application of a historical collection rate to the outstanding accounts receivable balance, which remains fairly level from year to year, and judgments about the probable effects of economic conditions on certain customers, which can fluctuate significantly from year to year. The Company cannot guarantee that the rate of future credit losses will be similar to past experience. The Company considers all available information when assessing the adequacy of the allowance for doubtful accounts each quarter.
Inventory, Policy [Policy Text Block]	Inventories Inventories are stated at the lower of its cost or net realizable value. Inventory costs include the costs of the purchased metals, inbound freight, external and internal processing and applicable labor and overhead costs. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Costs of the Company’s carbon and specialty metals flat products segments’ inventories, including flat-rolled sheet, coil and plate products are determined using the specific identification method. Certain of the Company’s tubular and pipe products inventory is stated under the last-in, first -out (LIFO) method. At December 31, 2018 and December 31, 2017, approximately $51.1 million, or 13.9% of consolidated inventory, and $48.1 million, or 17.5% of consolidated inventory, respectively, was reported under the LIFO method of accounting. The cost of the remainder of tubular and pipe product segment’s inventory is determined using a weighted average rolling first -in, first -out (FIFO) method. On the Consolidated Statements of Comprehensive Income, “Cost of materials sold (exclusive of items shown separately below)” consists of the cost of purchased metals, inbound and internal transfer freight, external processing costs, and LIFO income or expense.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment, and Depreciation Property and equipment are stated at cost. Depreciation is provided using the straight-line method over the estimated useful lives of the assets ranging from two to 30 years. The Company capitalizes the costs of obtaining or developing internal-use software, including directly related payroll costs. The Company amortizes those costs over five years, beginning when the software is ready for its intended use.
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]	Intangible Assets and Recoverability of Long-lived Assets The Company performs an annual impairment test of indefinite-lived intangible assets in the fourth quarter, or more frequently if changes in circumstances or the occurrence of events indicate potential impairment. Events or changes in circumstances that could trigger an impairment review include significant nonperformance relative to the expected historical or projected future operating results, significant changes in the manner of the use of the acquired assets or the strategy for the overall business or significant negative industry or economic trends. Management uses judgment to determine whether to use a qualitative analysis or a quantitative fair value measurement for each of the Company’s reporting units that carry intangible assets. If a quantitative fair value measurement is used, the fair value of each indefinite-lived intangible asset is compared to its carrying value and an impairment charge is recorded if the carrying value exceeds the fair value. The Company estimates the fair value of indefinite-lived intangible assets using a discounted cash flow methodology. Management’s assumptions used for the calculations are based on historical results, projected financial information and recent economic events. Actual results could differ from these estimates under different assumptions or conditions which could adversely affect the reported value of intangible assets. The Company evaluates the recoverability of long-lived assets and the related estimated remaining lives whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Events or changes in circumstances that could trigger an impairment review include significant underperformance relative to the expected historical or projected future operating results, significant changes in the manner of the use of the acquired assets or the strategy for the overall business or significant negative industry or economic trends. The Company records an impairment or change in useful life whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company records, as an offset to the estimated effect of temporary differences between the tax basis of assets and liabilities and the reported amounts in its consolidated balance sheets, the tax effect of operating loss and tax credit carryforwards. If the Company determines that it will not be able to fully realize a deferred tax asset, it will record a valuation allowance to reduce such deferred tax asset to its realizable value. The Company recognizes interest accrued related to unrecognized tax benefits in income tax expense. Penalties, if incurred, would be recognized as a component of administrative and general expense.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company's contracts with customers are comprised of purchase orders with standard terms and conditions. Occasionally the Company may also have longer-term agreements with customers. Substantially all of the contracts with customers require the delivery of metals which represent single performance obligations that are satisfied upon transfer of control of the product to the customer. Transfer of control is assessed based on the use of the product distributed and rights to payment for performance under the contract terms. Transfer of control and revenue recognition for substantially all of the Company’s sales occur upon shipment or delivery of the product, which is when title, ownership and risk of loss pass to the customer and is based on the applicable shipping terms. The shipping terms depend on the customer contract. An invoice for payment is issued at time of shipment and terms are generally net 30 days. The Company has certain fabrication contracts in one business unit for which revenue is recognized over time as performance obligations are achieved. This fabrication business is immaterial to the Company's consolidated results. Sales returns and allowances are treated as reductions to sales and are provided for based on historical experience and current estimates and are immaterial to the consolidated financial statements. Shipping and Handling Fees and Costs Amounts charged to customers for shipping and other transportation services are included in net sales. The distribution expense line on the accompanying Consolidated Statements of Comprehensive Income is entirely comprised of all shipping and other transportation costs incurred by the Company in shipping goods to its customers.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation The Company records compensation expense for stock awards issued to employees and directors. For additional information, see Note 11, Equity Plans.
New Accounting Pronouncements, Policy [Policy Text Block]	Impact of Recently Issued Accounting Pronouncements In August, 2018, the Financial Account Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2018 - 15, “Intangibles – Goodwill and other – Internal-use software: Customer’s accounting for implementation costs incurred in a cloud computing arrangement that is a service contract”. This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). Accordingly, this ASU requires an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350 - 40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. This ASU also requires the entity (customer) to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement, which includes reasonably certain renewals. For public business entities, this ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years with early adoption permitted. The Company early adopted ASU 2018 - 15 in the third quarter of 2018 and the adoption of this ASU did not materially impact the Company’s consolidated financial statements. In August 2017, the FASB issued ASU No 2017 - 12, “Derivatives and Hedging”. This ASU aligns an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. To meet that objective, this ASU expands and refines hedge accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. This ASU also makes certain targeted improvements to simplify the application of hedge accounting guidance and ease the administrative burden of hedge documentation requirements and assessing hedge effectiveness. This ASU is the final version of proposed ASU 2016 - 310, “Derivatives and Hedging (Topic 815 ): Targeted Improvements to Accounting for Hedging Activities”, which has been deleted. For public business entities, this ASU is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early application is permitted in any interim period after issuance of the ASU. All transition requirements and elections should be applied to hedging relationships existing (that is, hedging relationships in which the hedging instrument has not expired, been sold, terminated, or exercised or the entity has not removed the designation of the hedging relationship) on the date of adoption. The effect of adoption should be reflected as of the beginning of the fiscal year of adoption. The adoption of this ASU is not expected to materially impact the Company’s consolidated financial statements. In May 2017, the FASB issued ASU No 2017 - 09, “Compensation – Stock Compensation (Topic 718 )”. This ASU provides clarity and reduces both ( 1 ) diversity in practice and ( 2 ) cost and complexity when applying the guidance in Topic 718, Compensation – Stock Compensation, to a change to the terms or conditions of a share-based payment award. This ASU provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. This ASU is the final version of proposed ASU 2016 - 360, “Compensation—Stock Compensation (Topic 718 )—Scope of Modification Accounting,” which has been deleted. The amendments in this ASU are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The amendments in this ASU should be applied prospectively to an award modified on or after the adoption date. The adoption of this ASU did not materially impact the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016 - 02, “Leases,” which specifies the accounting for leases. The objective is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing and uncertainty of cash flows arising from a lease. This ASU introduces the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous guidance. The guidance is effective for annual reporting periods beginning after December 15, 2018 and interim periods within those fiscal years with early adoption permitted. The Company will adopt ASU No. 2016 - 02 as of January 1, 2019. The adoption of the guidance will impact the Company’s Consolidated Balance Sheets by the creation of right to use assets and lease liabilities in the range of $22 million to $27 million. The adoption of this ASU is not expected to have a material impact on the Company’s Statement of Comprehensive Income or on the Statement of Cash Flows. In August 2015, the FASB issued ASU 2015 - 14, “Revenue from Contracts with Customers (Topic 606 ): Deferral of the Effective Date,” which deferred the effective date of ASU 2014 - 09 for all entities by one year. The Company adopted this standard on January 1, 2018. The Company completed the process of evaluating the effect of the adoption and determined there were no material changes required to the reported revenues as a result of the adoption. Substantially all of the revenue arrangements consist of a single performance obligation to transfer goods. Based on the evaluation process and review of the contracts with customers, the timing and amount of revenue recognized based on ASU 2015 - 14 is consistent with the revenue recognition policy under previous guidance. The adoption of this ASU on January 1, 2018 using the modified retrospective approach applied to those contracts which were not completed as of January 1, 2018 did not have a material impact on the Company’s consolidated financial statements. Comparative information has not been restated and continues to be reported under the accounting standard in effect for those periods. The impact of adopting ASU 606 was not material to the Company’s consolidated financial statements as of and for the twelve months ended December 31, 2018. See Note 3, Revenue Recognition.

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Note 2 - Acquisitions (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

Details of Acquisition (in thousands)	As of April 2, 2018
Assets acquired
Accounts receivable, net	$	6,609
Inventories		14,769
Property and equipment		2,898
Prepaid expenses and other		345
Intangible assets		5,255
Total assets acquired		29,876
Total liabilities assumed		(7,969	)
Cash paid	$	21,907

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Note 3 - Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2018

Disaggregation of Revenue [Table Text Block]

	Disaggregated Revenue by Products Sold
	For the Twelve Months Ended December 31, 2018
	Carbon flat products			Specialty metals flat products			Tubular and pipe products			Total
Hot Rolled		35.2	%		-			-			35.2	%
Plate		12.9	%		-			-			12.9	%
Cold Rolled		5.4	%		-			-			5.4	%
Coated		7.4	%		-			-			7.4	%
Specialty		-			20.0	%		-			20.0	%
Pipe & Tube		-			-			17.4	%		17.4	%
Other		1.7	%		0.0	%		-			1.7	%
Total		62.6	%		20.0	%		17.4	%		100.0	%

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Note 5 - Inventories (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Inventory, Current [Table Text Block]

As of December 31,
(in thousands)	2018		2017
Unprocessed	$	306,953	$	225,187
Processed and finished		61,785		50,120
Totals	$	368,738	$	275,307

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Note 6 - Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Table Text Block]

(in thousands)	Depreciable Live			December 31, 2018			December 31, 2017

Land		-		$	15,881		$	15,881
Land improvements	5	-	10		3,547			3,270
Buildings and improvements	7	-	30		133,386			131,655
Machinery and equipment	2	-	15		205,826			184,683
Furniture and fixtures	3	-	7		6,374			6,298
Computer software and equipment	2	-	5		28,638			28,677
Vehicles	2	-	5		1,876			1,746
Capital lease					86			-
Construction in progress		-			8,171			4,500
					403,785			376,710
Less accumulated depreciation					(244,176	)		(229,062	)
Net property and equipment				$	159,609		$	147,648

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Note 7 - Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Goodwill [Table Text Block]

(in thousands)	Carbon Flat Products		Specialty Metals Flat Products		Tubular and Pipe Products		Total

Balance as of December 31, 2017	$	-	$	-	$	-	$	-
Acquisitions		-		2,358		-		2,358
Impairments		-		-		-		-
Balance as of December 31, 2018	$	-	$	2,358	$	-	$	2,358

Schedule of Finite and Indefinite Lived Intangible Assets [Table Text Block]

	As of December 31, 2018
(in thousands)	Gross Carrying Amount		Acquisitions		Accumulated Amortization			Intangible Assets, Net

Customer relationships - subject to amortization	$	13,332	$	640	$	(6,698	)	$	7,274
Covenant not to compete - subject to amortization		-		157		(42	)		115
Trade names - not subject to amortization		15,425		2,100		-			17,525
	$	28,757	$	2,897	$	(6,740	)	$	24,914

	As of December 31, 2017
(in thousands)	Gross Carrying Amount		Acquisitions		Accumulated Amortization			Intangible Assets, Net

Customer relationships - subject to amortization	$	13,332	$	-	$	(5,777	)	$	7,555
Trade names - not subject to amortization		15,425		-		-			15,425
	$	28,757	$	-	$	(5,777	)	$	22,980

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Note 8 - Debt (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Debt [Table Text Block]

	As of December 31,
(in thousands)	2018		2017
Asset-based revolving credit facility due December 8, 2022	$	302,530	$	196,235
Industrial revenue bond due April 1, 2018		-		930
Total debt		302,530		197,165
Less current amount		-		(930	)
Total long-term debt	$	302,530	$	196,235

Schedule of Maturities of Long-term Debt [Table Text Block]

(in thousands)	2019		2020		2021		2022		2023		Total		Total
ABL Credit Facility	$	-	$	-	$	-	$	302,530	$	-	$	302,530	$	605,060
Total principal payments	$	-	$	-	$	-	$	302,530	$	-	$	302,530	$	605,060

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Note 9 - Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

	Net Gain (Loss) Recognized
(in thousands)	2018			2017			2016
Interest rate swap (CTI)	$	(5	)	$	(31	)	$	(66	)
Fixed interest rate swap (ABL)		-			-			(98	)
Metals swaps		(79	)		475			68
Embedded customer derivatives		79			(475	)		(68	)
Total loss	$	(5	)	$	(31	)	$	(164	)

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Note 10 - Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	Value of Items Recorded at Fair Value
	As of December 31, 2018
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Embedded customer derivatives	$	-	$	21	$	-	$	21
Total assets at fair value	$	-	$	21	$	-	$	21

Liabilities:
Metal swaps	$	-	$	21	$	-	$	21
Total liabilities recorded at fair value	$	-	$	21	$	-	$	21

	Value of Items Recorded at Fair Value
	As of December 31, 2017
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Metal Swaps	$	-	$	382	$	-	$	382
Total assets at fair value	$	-	$	382	$	-	$	382

Liabilities:
Embedded customer derivatives	$	-	$	382	$	-	$	382
Interest rate swap (CTI)		-		5		-		5
Total liabilities recorded at fair value	$	-	$	387	$	-	$	387

Fair Value, by Balance Sheet Grouping [Table Text Block]

	Value of Items Not Recorded at Fair Value
	As of December 31, 2018
(in thousands)	Level 1		Level 2		Level 3		Total
Liabilities:
ABL Credit Facility		-		302,530		-		302,530
Total liabilities not recorded at fair value	$	-	$	302,530	$	-	$	302,530

	Value of Items Not Recorded at Fair Value
	As of December 31, 2017
(in thousands)	Level 1		Level 2		Level 3		Total
Liabilities:
IRB	$	930	$	-	$	-	$	930
ABL Credit Facility		-		196,235		-		196,235
Total liabilities not recorded at fair value	$	930	$	196,235	$	-	$	197,165

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Note 11 - Equity Plans (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

	For the years ended December 31,
(in thousands)	2018		2017		2016
RSU expense before taxes of New Plan	$	643	$	560	$	42
RSU (income) expense before taxes of Old Plan		-		-		(73	)
RSU (income) expense after taxes		471		636		81

Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]

	Number of Shares			Weighted Average Estimated Fair Value
Outstanding at December 31, 2017		469,069		$	20.11
Granted		84,283			22.33
Converted into shares		(19,097	)		16.09
Forfeited		(6,709	)		16.98
Outstanding at December 31, 2018		527,546		$	20.65
Vested at December 31, 2018		436,069		$	20.42

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Note 12 - Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

(in thousands)		2019				2020				2021				2022				2023				Thereafter				Total
Lease payments		$	6,155			$	5,405			$	4,681			$	3,706			$	2,858			$	5,057			$	27,862

XML 54 R40.htm IDEA: XBRL DOCUMENT

Note 13 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	As of December 31,
(in thousands)	2018		2017			2016
Current:
Federal	$	9,188	$	7,695		$	2,563
State and local		1,797		666			929
		10,985		8,361			3,492
Deferred		1,320		(10,974	)		(1,994	)
Income tax provision (benefit)	$	12,305	$	(2,613	)	$	1,498

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

(in thousands)	2018			2017
Deferred tax assets:
Inventory (excluding LIFO reserve)	$	1,622		$	1,690
Net operating loss and tax credit carryforwards		2,498			3,520
Allowance for doubtful accounts		504			419
Accrued expenses		6,087			5,684
Other		232			143
Deferred tax assets before valuation allowance		10,943			11,456
Valuation allowance		(2,055	)		(2,379	)
Total deferred tax assets		8,888			9,077

Deferred tax liabilities:
LIFO reserve		(3,870	)		(3,958	)
Property and equipment		(13,625	)		(11,363	)
Intangibles		(4,858	)		(5,901	)
Total deferred tax liabilities		(22,353	)		(21,222	)
Deferred tax liabilities, net	$	(13,465	)	$	(12,145	)

Schedule of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns Roll Forward [Table Text Block]

(in thousands)	2018			2017			2016
Balance as of January 1	$	40		$	38		$	38
Change in tax due to tax law		(12	)		-			-
Increases related to current year tax positions		9			15			13
Decreases related to lapsing of statute of limitations		(10	)		(13	)		(13	)
Balance as of December 31	$	27		$	40		$	38

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2018			2017			2016
U.S. federal statutory rate in effect		21.0	%		35.0	%		35.0	%
State and local taxes, net of federal benefit		4.6	%		3.6	%		11.8	%
Sec. 199 manufacturing deduction		-			(3.8	%)		(33.6	%)
Meals and entertainment		0.6	%		1.8	%		64.3	%
Tax credits		(0.6	%)		(1.3	%)		(48.7	%)
Change in valuation allowance		-			0.6	%		205.4	%
Change in U.S. federal statutory rate		-			(37.7	%)		-
Change in tax affect of SERP		-			(11.4	%)		-
All other, net		1.1	%		(2.8	%)		122.4	%
Effective income tax rate		26.7	%		(16.0	%)		356.6	%

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Note 14 - Shares Outstanding and Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	For the years ended December 31,
(in thousands, except per share data)	2018		2017		2016

Weighted average basic shares outstanding		11,432		11,381		11,210
Assumed exercise of stock options and issuance of stock awards		8		-		-
Weighted average diluted shares outstanding		11,440		11,381		11,210

Net income (loss)	$	33,759	$	18,963	$	(1,078	)

Basic earnings (loss) per share	$	2.95	$	1.67	$	(0.10	)
Diluted earnings (loss) per share	$	2.95	$	1.67	$	(0.10	)

Unvested RSUs		91		65		167

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Note 16 - Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]

	For the Year Ended December 31,
(in thousands)	2018			2017			2016
Net sales
Carbon flat products	$	1,073,292		$	869,628		$	670,983
Specialty metals flat products		343,479			227,200			189,930
Tubular and pipe products		298,310			233,868			194,203
Total net sales	$	1,715,081		$	1,330,696		$	1,055,116

Depreciation and amortization
Carbon flat products	$	10,621		$	10,906		$	11,690
Specialty metals flat products		1,251			811			797
Tubular and pipe products		5,601			5,659			5,896
Corporate		135			102			102
Total depreciation and amortization	$	17,608		$	17,478		$	18,485

Operating income
Carbon flat products	$	44,354		$	17,886		$	(4,371	)
Specialty metals flat products		15,248			11,240			9,841
Tubular and pipe products		11,520			4,568			7,713
Corporate		(14,070	)		(9,708	)		(7,435	)
Total operating income	$	57,052		$	23,986		$	5,748
Other loss, net		(307	)		(118	)		(55	)
Income before interest and income taxes		56,745			23,868			5,693
Interest and other expense on debt		10,681			7,518			5,273
Income before income taxes	$	46,064		$	16,350		$	420

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]

	For the Year Ended December 31,
(in thousands)	2018		2017		2016
Capital expenditures
Flat products	$	19,985	$	7,325	$	5,105
Tubular and pipe products		5,242		2,833		1,719
Corporate		488		2		-
Total capital expenditures	$	25,715	$	10,160	$	6,824

Assets
Flat products	$	560,116	$	409,116
Tubular and pipe products		200,016		194,787
Corporate		608		255
Total assets	$	760,740	$	604,158

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Schedule II - Valuation and Qualifying Accounts (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Valuation Allowance [Table Text Block]

			Additions
Description	Balance at Beginning of Period		Charged to Costs and Expenses		Charged to Other Accounts		Deductions			Balance at End of Period
Year Ended December 31, 2016
Allowance for doubtful accounts	$	1,299	$	369	$	-	$	(283	)	$	1,385
Tax valuation reserve	$	1,030	$	987	$	-	$	-		$	2,017

Year Ended December 31, 2017
Allowance for doubtful accounts	$	1,385	$	641	$	-	$	(416	)	$	1,610
Tax valuation reserve	$	2,017	$	362	$	-	$	-		$	2,379

Year Ended December 31, 2018
Allowance for doubtful accounts	$	1,610	$	575	$	-	$	(245	)	$	1,940
Tax valuation reserve	$	2,379	$	-	$	-	$	(324	)	$	2,055

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Schedule III - Supplemental Financial Information (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information [Table Text Block]

2018	1st quarter		2nd quarter		3rd quarter		4th quarter			Year
Net sales	$	375,598	$	452,917	$	456,976	$	429,590		$	1,715,081
Operating income (a)		12,345		24,319		18,614		1,774			57,052
Income (loss) before income taxes		10,313		21,556		15,708		(1,512	)		46,065
Net income (loss)	$	7,629	$	15,848	$	11,599	$	(1,316	)	$	33,759
Basic net income (loss) per share	$	0.67	$	1.39	$	1.01	$	(0.11	)	$	2.95
Weighted average shares outstanding - basic		11,418		11,435		11,444		11,444			11,432
Diluted net income (loss) per share	$	0.67	$	1.39	$	1.01	$	(0.11	)	$	2.95
Weighted average shares outstanding - diluted		11,418		11,435		11,446		11,444			11,440
Market price of common stock: (c)
High	$	25.84	$	24.27	$	24.23	$	21.41		$	25.84
Low		19.75		19.75		19.92		13.72			13.72

2017	1st quarter		2nd quarter		3rd quarter		4th quarter			Year
Net sales	$	334,893	$	356,195	$	331,442	$	308,166		$	1,330,696
Operating income (loss) (d)		11,051		9,633		5,286		(1,984	)		23,986
Income (loss) before income taxes		9,399		7,817		3,298		(4,164	)		16,350
Net income (b)	$	7,699	$	4,797	$	2,280	$	4,187		$	18,963
Basic net income per share	$	0.68	$	0.42	$	0.20	$	0.37		$	1.67
Weighted average shares outstanding - basic		11,369		11,383		11,386		11,389			11,381
Diluted net income per share	$	0.68	$	0.42	$	0.20	$	0.37		$	1.67
Weighted average shares outstanding - diluted		11,369		11,390		11,386		11,391			11,381
Market price of common stock: (c)
High	$	27.93	$	24.00	$	22.44	$	22.86		$	27.93
Low		18.05		15.83		16.58		18.10			15.83

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Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2019
Number of Reportable Segments	3
LIFO Inventory Amount	$ 51.1	$ 48.1
Percentage of LIFO Inventory	13.90%	17.50%
Software and Software Development Costs [Member]
Property, Plant and Equipment, Useful Life	5 years
Minimum [Member]
Property, Plant and Equipment, Useful Life	2 years
Minimum [Member] \| Accounting Standards Update 2016-02 [Member] \| Subsequent Event [Member]
Operating Lease, Right-of-Use Asset				$ 22.0
Operating Lease, Liability, Total				22.0
Minimum [Member] \| Software and Software Development Costs [Member]
Property, Plant and Equipment, Useful Life	2 years
Maximum [Member]
Property, Plant and Equipment, Useful Life	30 years
Maximum [Member] \| Accounting Standards Update 2016-02 [Member] \| Subsequent Event [Member]
Operating Lease, Right-of-Use Asset				27.0
Operating Lease, Liability, Total				$ 27.0
Maximum [Member] \| Software and Software Development Costs [Member]
Property, Plant and Equipment, Useful Life	5 years
Steel Requirements [Member] \| Supplier Concentration Risk [Member] \| Three Largest Suppliers [Member]
Concentration Risk, Percentage	52.00%	53.00%	54.00%
Sales Revenue, Goods, Net [Member] \| Customer Concentration Risk [Member] \| Top 20 [Member]
Concentration Risk, Percentage	29.00%	27.00%	29.00%
Sales Revenue, Goods, Net [Member] \| Customer Concentration Risk [Member] \| Largest Customer [Member]
Concentration Risk, Percentage	5.00%	4.00%	4.00%
Sales Revenue, Goods, Net [Member] \| Customer Concentration Risk [Member] \| Industrial Machinery and Equipment Manufacturers and Fabricators [Member]
Concentration Risk, Percentage	48.00%	51.00%	51.00%

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Note 2 - Acquisitions (Details Textual) $ in Millions	Apr. 02, 2018 USD ($)
Berlin Metals [Member]
Business Combination, Consideration Transferred, Total	$ 21.9

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Note 2 - Acquisitions - Purchase Price Allocation (Details) - Berlin Metals [Member] $ in Thousands	Apr. 02, 2018 USD ($)
Accounts receivable, net	$ 6,609
Inventories	14,769
Property and equipment	2,898
Prepaid expenses and other	345
Intangible assets	5,255
Total assets acquired	29,876
Total liabilities assumed	(7,969)
Cash paid	$ 21,907

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Note 3 - Revenue Recognition - Disaggregation of Revenues, Percentage (Details)	12 Months Ended
	Dec. 31, 2018
Percentage of net sales	100.00%
Hot Rolled Products [Member]
Percentage of net sales	35.20%
Plate Products [Member]
Percentage of net sales	12.90%
Cold Rolled Products [Member]
Percentage of net sales	5.40%
Coated Products [Member]
Percentage of net sales	7.40%
Specialty [Member]
Percentage of net sales	20.00%
Pipe and Tube Products [Member]
Percentage of net sales	17.40%
Product and Service, Other [Member]
Percentage of net sales	1.70%
Carbon Flat Products [Member]
Percentage of net sales	62.60%
Carbon Flat Products [Member] \| Hot Rolled Products [Member]
Percentage of net sales	35.20%
Carbon Flat Products [Member] \| Plate Products [Member]
Percentage of net sales	12.90%
Carbon Flat Products [Member] \| Cold Rolled Products [Member]
Percentage of net sales	5.40%
Carbon Flat Products [Member] \| Coated Products [Member]
Percentage of net sales	7.40%
Carbon Flat Products [Member] \| Specialty [Member]
Percentage of net sales
Carbon Flat Products [Member] \| Pipe and Tube Products [Member]
Percentage of net sales
Carbon Flat Products [Member] \| Product and Service, Other [Member]
Percentage of net sales	1.70%
Specialty Metals Flat Products [Member]
Percentage of net sales	20.00%
Specialty Metals Flat Products [Member] \| Hot Rolled Products [Member]
Percentage of net sales
Specialty Metals Flat Products [Member] \| Plate Products [Member]
Percentage of net sales
Specialty Metals Flat Products [Member] \| Cold Rolled Products [Member]
Percentage of net sales
Specialty Metals Flat Products [Member] \| Coated Products [Member]
Percentage of net sales
Specialty Metals Flat Products [Member] \| Specialty [Member]
Percentage of net sales	20.00%
Specialty Metals Flat Products [Member] \| Pipe and Tube Products [Member]
Percentage of net sales
Specialty Metals Flat Products [Member] \| Product and Service, Other [Member]
Percentage of net sales	0.00%
Tubular and Pipe Products [Member]
Percentage of net sales	17.40%
Tubular and Pipe Products [Member] \| Hot Rolled Products [Member]
Percentage of net sales
Tubular and Pipe Products [Member] \| Plate Products [Member]
Percentage of net sales
Tubular and Pipe Products [Member] \| Cold Rolled Products [Member]
Percentage of net sales
Tubular and Pipe Products [Member] \| Coated Products [Member]
Percentage of net sales
Tubular and Pipe Products [Member] \| Specialty [Member]
Percentage of net sales
Tubular and Pipe Products [Member] \| Pipe and Tube Products [Member]
Percentage of net sales	17.40%
Tubular and Pipe Products [Member] \| Product and Service, Other [Member]
Percentage of net sales

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Note 4 - Accounts Receivable (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for Doubtful Accounts Receivable, Current, Ending Balance	$ 3.9	$ 2.8
Provision for Doubtful Accounts	$ 0.6	$ 0.6	$ 0.4

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Note 5 - Inventories (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Inventory, LIFO Reserve, Period Charge	$ 8.4	$ 2.7
Inventory Difference Using FIFO Basis	$ 3.1	$ 5.3

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Note 5 - Inventories - Steel Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Unprocessed	$ 306,953	$ 225,187
Processed and finished	61,785	50,120
Totals	$ 368,738	$ 275,307

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Note 6 - Property and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2017
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Current		$ 750	$ 800
Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life	7 years

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Note 6 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property and equipment, at cost	$ 403,785	$ 376,710
Accumulated depreciation	(244,176)	(229,062)
Net property and equipment	$ 159,609	147,648
Minimum [Member]
Depreciable lives (Year)	2 years
Maximum [Member]
Depreciable lives (Year)	30 years
Land [Member]
Property and equipment, at cost	$ 15,881	15,881
Land Improvements [Member]
Property and equipment, at cost	$ 3,547	3,270
Land Improvements [Member] \| Minimum [Member]
Depreciable lives (Year)	5 years
Land Improvements [Member] \| Maximum [Member]
Depreciable lives (Year)	10 years
Building and Building Improvements [Member]
Property and equipment, at cost	$ 133,386	131,655
Building and Building Improvements [Member] \| Minimum [Member]
Depreciable lives (Year)	7 years
Building and Building Improvements [Member] \| Maximum [Member]
Depreciable lives (Year)	30 years
Machinery and Equipment [Member]
Property and equipment, at cost	$ 205,826	184,683
Machinery and Equipment [Member] \| Minimum [Member]
Depreciable lives (Year)	2 years
Machinery and Equipment [Member] \| Maximum [Member]
Depreciable lives (Year)	15 years
Furniture and Fixtures [Member]
Property and equipment, at cost	$ 6,374	6,298
Furniture and Fixtures [Member] \| Minimum [Member]
Depreciable lives (Year)	3 years
Furniture and Fixtures [Member] \| Maximum [Member]
Depreciable lives (Year)	7 years
Software and Software Development Costs [Member]
Property and equipment, at cost	$ 28,638	28,677
Depreciable lives (Year)	5 years
Software and Software Development Costs [Member] \| Minimum [Member]
Depreciable lives (Year)	2 years
Software and Software Development Costs [Member] \| Maximum [Member]
Depreciable lives (Year)	5 years
Vehicles [Member]
Property and equipment, at cost	$ 1,876	1,746
Vehicles [Member] \| Minimum [Member]
Depreciable lives (Year)	2 years
Vehicles [Member] \| Maximum [Member]
Depreciable lives (Year)	5 years
Assets Held under Capital Leases [Member]
Property and equipment, at cost	$ 86
Construction in Progress [Member]
Property and equipment, at cost	$ 8,171	$ 4,500

XML 68 R54.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Impairment of Intangible Assets (Excluding Goodwill), Total	$ 0	$ 0
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	1,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	1,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	1,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	1,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 1,000
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life	15 years
Finite-Lived Intangible Assets, Remaining Amortization Period	15 years

XML 69 R55.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangible Assets - Goodwill, by Reportable Segment (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)
Balance
Acquisitions	2,358
Impairments
Balance	2,358
Carbon Flat Products [Member]
Balance
Acquisitions
Impairments
Balance
Specialty Metals Flat Products [Member]
Balance
Acquisitions	2,358
Impairments
Balance	2,358
Tubular and Pipe Products [Member]
Balance
Acquisitions
Impairments
Balance

XML 70 R56.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangible Assets - Intangible Assets, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Gross carrying amount	$ 28,757	$ 28,757
Accumulated amortization	(6,740)	(5,777)
Intangible assets, net	24,914	22,980
Acquisitions	2,897
Customer Relationships [Member]
Gross carrying amount	13,332	13,332
Acquisitions	640
Accumulated amortization	(6,698)	(5,777)
Intangible assets, net	7,274	7,555
Noncompete Agreements [Member]
Gross carrying amount
Acquisitions	157
Accumulated amortization	(42)
Intangible assets, net	115
Trade Names [Member]
Gross carrying amount	15,425	15,425
Acquisitions	2,100
Accumulated amortization
Intangible assets, net	$ 17,525	$ 15,425

XML 71 R57.htm IDEA: XBRL DOCUMENT

Note 8 - Debt (Details Textual) $ in Thousands			12 Months Ended
Note 8 - Debt (Details Textual) $ in Thousands	Nov. 30, 2018 USD ($)	Mar. 01, 2018 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Jul. 31, 2011 USD ($)
Prepaid Expense and Other Assets, Current			$ 9,460	$ 8,333
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total			10,200	6,400	$ 4,300
Long-term Debt, Gross			$ 275,300	$ 200,600	$ 152,500
Industrial Revenue Bonds [Member]
Repayments of Long-term Debt, Total		$ 900
All Debt, Excluding Deferred Financing Fees and Deferred Commitment Fees [Member]
Debt Instrument, Interest Rate, Effective Percentage			3.70%	3.00%	2.40%
Chicago Tube and Iron Company Acquisition [Member] \| Industrial Revenue Bonds [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt						$ 5,900
Amortized Banking Fees [Member]
Prepaid Expense and Other Assets, Current			$ 1,600
ABL Credit Facility [Member]
Debt Instrument, Term			5 years
Asset Based Revolving Credit Facility Due December 8, 2022 [Member] \| ABL Credit Facility [Member]
Line of Credit Facility, Increase (Decrease), Net, Total	$ 75,000
Line of Credit Facility, Maximum Borrowing Capacity	445,000
Letters of Credit, Maximum Borrowing Capacity	20,000
Maximum First In, Last Out Revolving Credit Facility	30,000
Line of Credit Facility, Additional Commitments, Maximum	200,000
Line Of Credit Facility Covenant Terms Monetary	$ 30,000
Line of Credit Facility Covenant Terms Percentage of Revolver Commitments	10.00%
Balance Required for Compliance with Revolver Commitments			$ 47,500
Line of Credit Facility Covenant Terms Percentage of Aggregate Borrowing Base	10.00%
Line of Credit Facility Covenant Terms Aggregate Borrowing Base			44,400
Line of Credit Facility Covenant Terms EBITDA Ratio	1
Line of Credit Facility, Remaining Borrowing Capacity			$ 139,300
Asset Based Revolving Credit Facility Due December 8, 2022 [Member] \| ABL Credit Facility [Member] \| Base Rate [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.00%
Asset Based Revolving Credit Facility Due December 8, 2022 [Member] \| ABL Credit Facility [Member] \| Base Rate [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.25%
Asset Based Revolving Credit Facility Due December 8, 2022 [Member] \| ABL Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Asset Based Revolving Credit Facility Due December 8, 2022 [Member] \| ABL Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.75%

XML 72 R58.htm IDEA: XBRL DOCUMENT

Note 8 - Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Asset-based revolving credit facility due December 8, 2022	$ 302,530	$ 196,235
Total debt	302,530	197,165
Less current amount		(930)
Total long-term debt	302,530	196,235
Asset Based Revolving Credit Facility Due December 8, 2022 [Member]
Asset-based revolving credit facility due December 8, 2022	302,530	196,235
Industrial Revenue Bonds [Member]
Industrial revenue bond due April 1, 2018		$ 930

The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

XML 73 R59.htm IDEA: XBRL DOCUMENT

Note 8 - Debt - Principal Payments Over the Next 5 Years and Thereafter (Details) $ in Thousands	Dec. 31, 2018 USD ($)
2019
2020
2021
2022	302,530
2023
Total	302,530
ABL Credit Facility [Member]
2019
2020
2021
2022	302,530
2023
Total	$ 302,530

XML 74 R60.htm IDEA: XBRL DOCUMENT

Note 9 - Derivative Instruments (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Jun. 30, 2012
Cash Flow Hedging [Member]
Derivative, Fixed Interest Rate		1.21%
ABL Credit Facility [Member]
Long-term Line of Credit, Total		$ 53.2
Minimum [Member]
Derivative, Remaining Maturity	30 days
Minimum [Member] \| Cash Flow Hedging [Member]
Derivative Premium Rate		1.25%
Maximum [Member]
Derivative, Remaining Maturity	330 days
Maximum [Member] \| Cash Flow Hedging [Member]
Derivative Premium Rate		1.75%

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

Weighted average basic shares outstanding (in shares)

XML 75 R61.htm IDEA: XBRL DOCUMENT

Note 9 - Derivative Instruments - Impact from Derivatives on Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Derivatives	$ (5)	$ (31)	$ (164)
Interest Rate Swap [Member] \| ABL Credit Facility [Member]
Derivatives			(98)
Interest Rate Swap [Member] \| Chicago Tube and Iron Company Acquisition [Member]
Derivatives	(5)	(31)	(66)
Metal Swaps [Member]
Derivatives	(79)	475	68
Embedded Customer Derivatives [Member]
Derivatives	$ 79	$ (475)	$ (68)

XML 76 R62.htm IDEA: XBRL DOCUMENT

Note 10 - Fair Value of Assets and Liabilities (Details Textual) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Revolving Credit Facility [Member]
Long-term Debt, Fair Value	$ 302.5	$ 196.2
Industrial Revenue Bonds [Member]
Long-term Debt, Fair Value		$ 0.9

XML 77 R63.htm IDEA: XBRL DOCUMENT

Note 10 - Fair Value of Assets and Liabilities - Fair Value Measurements, Recorded (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets:
Embedded customer derivatives	$ 21
Total assets at fair value	21	$ 382
Liabilities:
Total liabilities recorded at fair value	21	387
Embedded customer derivatives		382
Metal Swaps [Member]
Assets:
Metal Swaps		382
Liabilities:
Metal swaps	21
Interest Rate Swap [Member]
Liabilities:
Metal swaps		5
Fair Value, Inputs, Level 1 [Member]
Assets:
Embedded customer derivatives
Total assets at fair value
Liabilities:
Total liabilities recorded at fair value
Embedded customer derivatives
Fair Value, Inputs, Level 1 [Member] \| Metal Swaps [Member]
Assets:
Metal Swaps
Liabilities:
Metal swaps
Fair Value, Inputs, Level 1 [Member] \| Interest Rate Swap [Member]
Liabilities:
Metal swaps
Fair Value, Inputs, Level 2 [Member]
Assets:
Embedded customer derivatives	21
Total assets at fair value	21	382
Liabilities:
Total liabilities recorded at fair value	21	387
Embedded customer derivatives		382
Fair Value, Inputs, Level 2 [Member] \| Metal Swaps [Member]
Assets:
Metal Swaps		382
Liabilities:
Metal swaps	21
Fair Value, Inputs, Level 2 [Member] \| Interest Rate Swap [Member]
Liabilities:
Metal swaps		5
Fair Value, Inputs, Level 3 [Member]
Assets:
Embedded customer derivatives
Total assets at fair value
Liabilities:
Total liabilities recorded at fair value
Embedded customer derivatives
Fair Value, Inputs, Level 3 [Member] \| Metal Swaps [Member]
Assets:
Metal Swaps
Liabilities:
Metal swaps
Fair Value, Inputs, Level 3 [Member] \| Interest Rate Swap [Member]
Liabilities:
Metal swaps

XML 78 R64.htm IDEA: XBRL DOCUMENT

Note 10 - Fair Value of Assets and Liabilities - Fair Value Measurements, Not Recorded (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Liabilities
Asset-based revolving credit facility due December 8, 2022	$ 302,530	$ 196,235
Total liabilities not recorded at fair value	302,530
Carrying Value [Member]
Liabilities
Total liabilities not recorded at fair value	302,530	197,165
ABL Credit Facility [Member]
Liabilities
Asset-based revolving credit facility due December 8, 2022	302,530	196,235
Total liabilities not recorded at fair value	302,530
Industrial Revenue Bonds [Member]
Liabilities
Industrial revenue bond due April 1, 2018		930
Fair Value, Inputs, Level 1 [Member] \| Carrying Value [Member]
Liabilities
Total liabilities not recorded at fair value		930
Fair Value, Inputs, Level 1 [Member] \| ABL Credit Facility [Member]
Liabilities
Asset-based revolving credit facility due December 8, 2022
Fair Value, Inputs, Level 1 [Member] \| Industrial Revenue Bonds [Member]
Liabilities
Industrial revenue bond due April 1, 2018		930
Fair Value, Inputs, Level 2 [Member] \| Carrying Value [Member]
Liabilities
Total liabilities not recorded at fair value	302,530	196,235
Fair Value, Inputs, Level 2 [Member] \| ABL Credit Facility [Member]
Liabilities
Asset-based revolving credit facility due December 8, 2022	302,530	196,235
Fair Value, Inputs, Level 2 [Member] \| Industrial Revenue Bonds [Member]
Liabilities
Industrial revenue bond due April 1, 2018
Fair Value, Inputs, Level 3 [Member] \| Carrying Value [Member]
Liabilities
Total liabilities not recorded at fair value
Fair Value, Inputs, Level 3 [Member] \| ABL Credit Facility [Member]
Liabilities
Asset-based revolving credit facility due December 8, 2022
Fair Value, Inputs, Level 3 [Member] \| Industrial Revenue Bonds [Member]
Liabilities
Industrial revenue bond due April 1, 2018

XML 79 R65.htm IDEA: XBRL DOCUMENT

Note 11 - Equity Plans (Details Textual) - USD ($)		12 Months Ended
Note 11 - Equity Plans (Details Textual) - USD ($)	Jul. 01, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		84,283
Restricted Stock Units (RSUs) [Member] \| Supplemental Employee Retirement Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		38,052	26,837	51,075
Restricted Stock Units (RSUs) [Member] \| Senior Management Stock Incentive Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Participant's Base Salary	10.00%
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Amount Per Employee	$ 17,500
Restricted Stock Units (RSUs) [Member] \| Non-Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		80,000	70,000
Restricted Stock Units (RSUs) [Member] \| Non-Employee Director [Member] \| Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		1,000,000

XML 80 R66.htm IDEA: XBRL DOCUMENT

Note 11 - Equity Plans - Stock-based Compensation Expense Recognized on Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
RSU (income) expense after taxes	$ 471	$ 636	$ 81
New Plan [Member]
RSU (income) expense before taxe	643	560	42
Old Plan [Member]
RSU (income) expense before taxe			$ (73)

XML 81 R67.htm IDEA: XBRL DOCUMENT

Note 11 - Equity Plans - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2018 $ / shares shares
Outstanding, beginning balance (in shares) \| shares	469,069
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 20.11
Granted (in shares) \| shares	84,283
Granted (in dollars per share) \| $ / shares	$ 22.33
Converted into shares (in shares) \| shares	(19,097)
Converted into shares (in dollars per share) \| $ / shares	$ 16.09
Forfeited (in shares) \| shares	(6,709)
Forfeited (in dollars per share) \| $ / shares	$ 16.98
Outstanding, ending balance (in shares) \| shares	527,546
Outstanding, ending balance (in dollars per share) \| $ / shares	$ 20.65
Vested (in shares) \| shares	436,069
Vested (in dollars per share) \| $ / shares	$ 20.42

XML 82 R68.htm IDEA: XBRL DOCUMENT

Note 12 - Commitments and Contingencies (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Operating Leases, Rent Expense, Total	$ 11.9	$ 9.7	$ 9.1
Entity Number of Employees	315
Collective Bargaining Arrangements	9
General and Administrative Expense [Member]
Litigation Settlement, Expense		$ 1.0
Cost of Materials Sold [Member]
Litigation Settlement, Expense			$ 1.7

XML 83 R69.htm IDEA: XBRL DOCUMENT

Note 12 - Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2018 USD ($)
2019	$ 6,155
2020	5,405
2021	4,681
2022	3,706
2023	2,858
Thereafter	5,057
Total	$ 27,862

XML 84 R70.htm IDEA: XBRL DOCUMENT

Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Open Tax Year	2015 2016 2017
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%	35.00%
Increase (Decrease) in Deferred Tax Liabilities Resulting From Tax Act		$ 6,200
Income Tax Expense (Benefit), Total	$ 12,305	$ (2,613)	$ 1,498
Effective Income Tax Rate Reconciliation, Percent, Total	26.70%	(16.00%)	356.60%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount			$ 900
Income Taxes Paid, Net, Total	$ 11,300	$ 9,400	$ 1,000
Restatement Adjustment [Member]
Income Tax Expense (Benefit), Total		$ (1,900)

XML 85 R71.htm IDEA: XBRL DOCUMENT

Note 13 - Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Federal	$ 9,188	$ 7,695	$ 2,563
State and local	1,797	666	929
	10,985	8,361	3,492
Deferred	1,320	(10,974)	(1,994)
Income tax provision (benefit)	$ 12,305	$ (2,613)	$ 1,498

XML 86 R72.htm IDEA: XBRL DOCUMENT

Note 13 - Income Taxes - Deferred Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Inventory (excluding LIFO reserve)	$ 1,622	$ 1,690
Net operating loss and tax credit carryforwards	2,498	3,520
Allowance for doubtful accounts	504	419
Accrued expenses	6,087	5,684
Other	232	143
Deferred tax assets before valuation allowance	10,943	11,456
Valuation allowance	(2,055)	(2,379)
Total deferred tax assets	8,888	9,077
Deferred tax liabilities:
LIFO reserve	(3,870)	(3,958)
Property and equipment	(13,625)	(11,363)
Intangibles	(4,858)	(5,901)
Total deferred tax liabilities	(22,353)	(21,222)
Deferred tax liabilities, net	$ (13,465)	$ (12,145)

XML 87 R73.htm IDEA: XBRL DOCUMENT

Note 13 - Income Taxes - Unrecognized Tax Benefits Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Balance	$ 40	$ 38	$ 38
Change in tax due to tax law	(12)
Increases related to current year tax positions	9	15	13
Decreases related to lapsing of statute of limitations	(10)	(13)	(13)
Balance	$ 27	$ 40	$ 38

XML 88 R74.htm IDEA: XBRL DOCUMENT

Note 13 - Income Taxes - Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
U.S. federal statutory rate in effect	21.00%	35.00%	35.00%
State and local taxes, net of federal benefit	4.60%	3.60%	11.80%
Sec. 199 manufacturing deduction		(3.80%)	(33.60%)
Meals and entertainment	0.60%	1.80%	64.30%
Tax credits	(0.60%)	(1.30%)	(48.70%)
Change in valuation allowance		0.60%	205.40%
Change in U.S. federal statutory rate		(37.70%)
Change in tax affect of SERP		(11.40%)
All other, net	1.10%	(2.80%)	122.40%
Effective income tax rate	26.70%	(16.00%)	356.60%

XML 89 R75.htm IDEA: XBRL DOCUMENT

Note 14 - Shares Outstanding and Earnings Per Share - Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

11,444

11,435

11,418

11,389

11,386

11,383

11,369

11,432

11,381

11,210

Assumed exercise of stock options and issuance of stock awards (in shares)

Weighted average diluted shares outstanding (in shares)

11,444

11,446

11,435

11,418

11,391

11,386

11,390

11,369

11,440

11,381

11,210

Basic earnings (loss) per share (in dollars per share)

$ (1,316)

^[1]

$ 11,599

^[1]

$ 15,848

^[1]

$ 7,629

^[1]

$ 4,187

^[1]

$ 2,280

^[1]

$ 4,797

^[1]

$ 7,699

^[1]

$ 33,759

^[1]

$ 18,963

^[1]

$ (1,078)

$ (0.11)

$ 1.01

$ 1.39

$ 0.67

$ 0.37

$ 0.20

$ 0.42

$ 0.68

$ 2.95

$ 1.67

$ (0.10)

Diluted earnings (loss) per share (in dollars per share)

$ (0.11)

$ 1.01

$ 1.39

$ 0.67

$ 0.37

$ 0.20

$ 0.42

$ 0.68

$ 2.95

$ 1.67

$ (0.10)

Unvested RSUs (in shares)

167

[1]	Includes a $6.2 million tax benefit related to the U.S. Tax Cuts and Jobs Act.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1252-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
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-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

+ Details

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
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-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1252-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
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-Paragraph 1
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+ Details

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

XML 90 R76.htm IDEA: XBRL DOCUMENT

Note 15 - Stock Repurchase Program (Details Textual) $ in Millions		12 Months Ended
	Oct. 02, 2015 USD ($) shares	Dec. 31, 2018 USD ($) shares	Dec. 31, 2017 shares	Dec. 31, 2016 shares
Stock Repurchase Program, Number of Shares Authorized to be Repurchased \| shares	550,000
Treasury Stock, Shares, Acquired \| shares		0	0	0
ABL Credit Facility [Member]
Unrestricted Common Stock Purchases, Maximum, Value	$ 5.0
ABL Credit Facility [Member] \| Stock Repurchases Value Exceeds 5.0 Million, Option 1 [Member] \| Minimum [Member]
Line of Credit Facility Covenant Terms Percentage of Revolver Commitments	20.00%
Balance Required for Compliance with Revolver Commitments		$ 95.0
ABL Credit Facility [Member] \| Stock Repurchases Value Exceeds 5.0 Million, Option 2 [Member] \| Minimum [Member]
Line of Credit Facility Covenant Terms Percentage of Revolver Commitments	15.00%
Balance Required for Compliance with Revolver Commitments		$ 71.3
Line of Credit Facility Covenant Terms EBITDA Ratio	1

XML 91 R77.htm IDEA: XBRL DOCUMENT

Note 16 - Segment Information (Details Textual)	12 Months Ended
Note 16 - Segment Information (Details Textual)	Dec. 31, 2018
Number of Reportable Segments	3

XML 92 R78.htm IDEA: XBRL DOCUMENT

Note 16 - Segment Information - Segment Reporting Information by Revenue (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

$ 429,590

$ 456,976

$ 452,917

$ 375,598

$ 308,166

$ 331,442

$ 356,195

$ 334,893

$ 1,715,081

$ 1,330,696

$ 1,055,116

17,608

17,478

18,485

Income before interest and income taxes

$ 1,774

^[1]

$ 18,614

^[1]

$ 24,319

^[1]

$ 12,345

^[1]

$ (1,984)

^[2]

$ 5,286

^[2]

$ 9,633

^[2]

$ 11,051

^[2]

57,052

^[1]

23,986

^[2]

5,748

Other loss, net

(307)

(118)

(55)

56,745

23,868

5,693

Interest and other expense on debt

10,681

7,518

5,273

Income before income taxes

46,064

16,350

420

Carbon Flat Products [Member]

1,073,292

869,628

670,983

10,621

10,906

11,690

Specialty Metals Flat Products [Member]

44,354

17,886

(4,371)

343,479

227,200

189,930

1,251

811

797

Tubular and Pipe Products [Member]

15,248

11,240

9,841

298,310

233,868

194,203

5,601

5,659

5,896

Corporate Segment [Member]

11,520

4,568

7,713

135

102

$ (14,070)

$ (9,708)

$ (7,435)

[1]	Operating income (loss) in 2018 includes $8,408 of LIFO expense related to the Company's tubular and pipe products segment.
[2]	Operating income (loss) in 2017 includes $2,707 of LIFO expense related to the Company's tubular and pipe products segment.

XML 93 R79.htm IDEA: XBRL DOCUMENT

Note 16 - Segment Information - Segment Reporting Information by Capital Expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Capital expenditures	$ 25,715	$ 10,160	$ 6,824
Assets	760,740	604,158
Flat Products Segment [Member]
Capital expenditures	19,985	7,325	5,105
Assets	560,116	409,116
Tubular and Pipe Products [Member]
Capital expenditures	5,242	2,833	1,719
Assets	200,016	194,787
Corporate Segment [Member]
Capital expenditures	488	2
Assets	$ 608	$ 255

XML 94 R80.htm IDEA: XBRL DOCUMENT

Note 17 - Retirement Plans (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2005
Defined Contribution Plan, Administrative Expense	$ 3.2	$ 2.6	$ 2.2
Supplemental Employee Retirement Plan [Member]
Defined Contribution Plan Vesting Period				5 years
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 5.7
Supplemental Employee Retirement Plan [Member] \| Minimum [Member]
Defined Contribution Plan, Compensation Percentage Multiplier				6.50%
Supplemental Employee Retirement Plan [Member] \| Maximum [Member]
Defined Contribution Plan, Compensation Percentage Multiplier				13.00%
Non-union Flat Rolled Segments’ 401K Retirement Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	6.00%

XML 95 R81.htm IDEA: XBRL DOCUMENT

Note 18 - Related-party Transactions (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Leases, Rent Expense, Total	$ 11.9	$ 9.7	$ 9.1
Cleveland Warehouse [Member]
Lessee, Operating Lease, Renewal Term	5 years
Chief Executive Officer [Member] \| Related Entity That Owns Cleveland Warehouse [Member]
Equity Method Investment, Ownership Percentage	50.00%
Affiliated Entity [Member] \| Cleveland Warehouse [Member]
Operating Leases, Rent Expense, Total	$ 0.2

XML 96 R82.htm IDEA: XBRL DOCUMENT

Schedule II - Valuation and Qualifying Accounts - Summary of Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-09, Allowance, Credit Loss [Member]
Balance at Beginning of Period	$ 1,610	$ 1,385	$ 1,299
Additions Charged to Costs and Expenses	575	641	369
Additions Charged to Other Accounts
Deductions	(245)	(416)	(283)
Balance at End of Period	1,940	1,610	1,385
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]
Balance at Beginning of Period	2,379	2,017	1,030
Additions Charged to Costs and Expenses		362	987
Additions Charged to Other Accounts
Deductions	(324)
Balance at End of Period	$ 2,055	$ 2,379	$ 2,017

XML 97 R83.htm IDEA: XBRL DOCUMENT

Schedule III - Supplemental Financial Information (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Tax Expenses (Benefits) Related to US Tax Cuts and Jobs Act		$ 6,200
Tubular and Pipe Products [Member]
Inventory, LIFO Reserve, Effect on Income, Net, Total	$ 8,408	$ 2,707

XML 98 R84.htm IDEA: XBRL DOCUMENT

Schedule III - Supplemental Financial Information - Quarterly Results of Operations (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Income (loss) before income taxes

$ 429,590

$ 456,976

$ 452,917

$ 375,598

$ 308,166

$ 331,442

$ 356,195

$ 334,893

$ 1,715,081

$ 1,330,696

$ 1,055,116

Operating income (a)

1,774

^[1]

18,614

^[1]

24,319

^[1]

12,345

^[1]

(1,984)

^[2]

5,286

^[2]

9,633

^[2]

11,051

^[2]

57,052

^[1]

23,986

^[2]

5,748

(1,512)

15,708

21,556

10,313

(4,164)

3,298

7,817

9,399

46,065

16,350

Basic net income (loss) per share (in dollars per share)

$ (1,316)

^[3]

$ 11,599

^[3]

$ 15,848

^[3]

$ 7,629

^[3]

$ 4,187

^[3]

$ 2,280

^[3]

$ 4,797

^[3]

$ 7,699

^[3]

$ 33,759

^[3]

$ 18,963

^[3]

$ (1,078)

$ (0.11)

$ 1.01

$ 1.39

$ 0.67

$ 0.37

$ 0.20

$ 0.42

$ 0.68

$ 2.95

$ 1.67

$ (0.10)

Weighted average shares outstanding - basic (in shares)

11,444

11,435

11,418

11,389

11,386

11,383

11,369

11,432

11,381

11,210

Diluted net income (loss) per share (in dollars per share)

$ (0.11)

$ 1.01

$ 1.39

$ 0.67

$ 0.37

$ 0.20

$ 0.42

$ 0.68

$ 2.95

$ 1.67

$ (0.10)

Weighted average shares outstanding - diluted (in shares)

11,444

11,446

11,435

11,418

11,391

11,386

11,390

11,369

11,440

11,381

11,210

Market price of common stock: (c)

Income (loss) before income taxes

$ 429,590

$ 456,976

$ 452,917

$ 375,598

$ 308,166

$ 331,442

$ 356,195

$ 334,893

$ 1,715,081

$ 1,330,696

$ 1,055,116

Operating income (a)

1,774

^[1]

18,614

^[1]

24,319

^[1]

12,345

^[1]

(1,984)

^[2]

5,286

^[2]

9,633

^[2]

11,051

^[2]

57,052

^[1]

23,986

^[2]

5,748

(1,512)

15,708

21,556

10,313

(4,164)

3,298

7,817

9,399

46,065

16,350