$RS
RELIANCE, INC.

2020 Q2 Form 10-Q Financial Statement

#000155837020008383 Filed on July 24, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $2.019B $2.884B
YoY Change -29.97% -3.53%
Cost Of Revenue $1.405B $2.030B
YoY Change -30.8% -2.0%
Gross Profit $614.7M $853.6M
YoY Change -27.99% -6.96%
Gross Profit Margin 30.44% 29.6%
Selling, General & Admin $438.5M $531.4M
YoY Change -17.48% -0.84%
% of Gross Profit 71.34% 62.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $57.40M $54.40M
YoY Change 5.51% 0.18%
% of Gross Profit 9.34% 6.37%
Operating Expenses $438.5M $531.4M
YoY Change -17.48% -0.84%
Operating Profit $118.6M $266.6M
YoY Change -55.51% -18.55%
Interest Expense $14.60M $23.70M
YoY Change -38.4% 11.27%
% of Operating Profit 12.31% 8.89%
Other Income/Expense, Net -$2.000M $2.900M
YoY Change -168.97% 383.33%
Pretax Income $102.0M $245.8M
YoY Change -58.5% -19.83%
Income Tax $21.30M $61.50M
% Of Pretax Income 20.88% 25.02%
Net Earnings $80.70M $184.3M
YoY Change -56.21% -20.94%
Net Earnings / Revenue 4.0% 6.39%
Basic Earnings Per Share $1.26 $2.73
Diluted Earnings Per Share $1.24 $2.69
COMMON SHARES
Basic Shares Outstanding 63.65M 67.05M
Diluted Shares Outstanding 64.58M 67.98M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $222.7M $141.5M
YoY Change 57.39% 13.84%
Cash & Equivalents $222.7M $141.5M
Short-Term Investments
Other Short-Term Assets $88.90M $73.40M
YoY Change 21.12% -11.14%
Inventory $1.493B $1.787B
Prepaid Expenses
Receivables $922.5M $1.350B
Other Receivables $0.00 $13.60M
Total Short-Term Assets $2.727B $3.366B
YoY Change -18.99% -7.74%
LONG-TERM ASSETS
Property, Plant & Equipment $1.809B $1.763B
YoY Change 2.61% 5.81%
Goodwill $1.924B $1.874B
YoY Change 2.66%
Intangibles $974.3M $1.052B
YoY Change -7.4%
Long-Term Investments
YoY Change
Other Assets $89.60M $83.90M
YoY Change 6.79% -4.44%
Total Long-Term Assets $4.997B $4.961B
YoY Change 0.73% 5.46%
TOTAL ASSETS
Total Short-Term Assets $2.727B $3.366B
Total Long-Term Assets $4.997B $4.961B
Total Assets $7.724B $8.327B
YoY Change -7.24% -0.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $247.1M $396.1M
YoY Change -37.62% -23.5%
Accrued Expenses $76.80M $79.30M
YoY Change -3.15% -70.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $64.90M $65.30M
YoY Change -0.61% -37.45%
Total Short-Term Liabilities $642.0M $760.8M
YoY Change -15.62% -15.41%
LONG-TERM LIABILITIES
Long-Term Debt $1.427B $1.945B
YoY Change -26.63% 0.63%
Other Long-Term Liabilities $21.90M $15.30M
YoY Change 43.14% -85.03%
Total Long-Term Liabilities $1.449B $1.960B
YoY Change -26.09% -3.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $642.0M $760.8M
Total Long-Term Liabilities $1.449B $1.960B
Total Liabilities $2.091B $2.721B
YoY Change -23.16% -20.12%
SHAREHOLDERS EQUITY
Retained Earnings $5.069B $4.936B
YoY Change 2.69%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.954B $4.941B
YoY Change
Total Liabilities & Shareholders Equity $7.724B $8.327B
YoY Change -7.24% -0.31%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $80.70M $184.3M
YoY Change -56.21% -20.94%
Depreciation, Depletion And Amortization $57.40M $54.40M
YoY Change 5.51% 0.18%
Cash From Operating Activities $475.7M $346.0M
YoY Change 37.49% 313.38%
INVESTING ACTIVITIES
Capital Expenditures -$41.00M -$70.90M
YoY Change -42.17% 24.82%
Acquisitions
YoY Change
Other Investing Activities -$400.0K $1.700M
YoY Change -123.53% -66.67%
Cash From Investing Activities -$41.40M -$69.20M
YoY Change -40.17% 33.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -386.2M -267.7M
YoY Change 44.27% 434.33%
NET CHANGE
Cash From Operating Activities 475.7M 346.0M
Cash From Investing Activities -41.40M -69.20M
Cash From Financing Activities -386.2M -267.7M
Net Change In Cash 48.10M 9.100M
YoY Change 428.57% -150.28%
FREE CASH FLOW
Cash From Operating Activities $475.7M $346.0M
Capital Expenditures -$41.00M -$70.90M
Free Cash Flow $516.7M $416.9M
YoY Change 23.94% 196.73%

Facts In Submission

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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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2.15
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.49
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.26
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.73
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.18
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
358082
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
348770
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
143100000
CY2020Q1 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
137500000
CY2020Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
200000
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
89000000.0
CY2019Q2 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
1200000
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
8700000
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
1200000
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
200000
CY2020Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
200000
CY2019Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1200000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
97900000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1200000
CY2020Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
5600000
CY2019Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
1200000
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
143100000
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
1200000

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