$RS
RELIANCE, INC.

2020 Q4 Form 10-Q Financial Statement

#000155837020012025 Filed on October 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $2.134B $2.086B $2.686B
YoY Change -12.82% -22.35% -9.7%
Cost Of Revenue $1.432B $1.410B $1.871B
YoY Change -13.41% -24.66% -12.57%
Gross Profit $703.6M $676.1M $814.7M
YoY Change -11.41% -17.01% -2.35%
Gross Profit Margin 32.97% 32.42% 30.33%
Selling, General & Admin $462.2M $449.2M $518.7M
YoY Change -9.94% -13.4% -2.32%
% of Gross Profit 65.69% 66.44% 63.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $56.50M $56.40M $54.80M
YoY Change 0.71% 2.92% 2.62%
% of Gross Profit 8.03% 8.34% 6.73%
Operating Expenses $518.7M $449.2M $518.7M
YoY Change -8.89% -13.4% -2.32%
Operating Profit $184.9M $160.5M $241.2M
YoY Change -17.79% -33.46% 12.5%
Interest Expense -$15.70M $15.70M $20.50M
YoY Change -5.42% -23.41% -6.82%
% of Operating Profit -8.49% 9.78% 8.5%
Other Income/Expense, Net -$1.600M -$17.80M -$2.300M
YoY Change -223.08% 673.91% -192.0%
Pretax Income $166.1M $127.0M $218.4M
YoY Change -20.75% -41.85% 12.06%
Income Tax $35.60M $28.70M $54.50M
% Of Pretax Income 21.43% 22.6% 24.95%
Net Earnings $130.5M $98.30M $163.9M
YoY Change -21.53% -40.02% 9.05%
Net Earnings / Revenue 6.11% 4.71% 6.1%
Basic Earnings Per Share $2.04 $1.53 $2.44
Diluted Earnings Per Share $2.01 $1.51 $2.40
COMMON SHARES
Basic Shares Outstanding 63.76M 63.76M 66.66M
Diluted Shares Outstanding 64.69M 67.70M

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $683.5M $591.6M $166.0M
YoY Change 292.14% 256.39% 48.08%
Cash & Equivalents $683.5M $591.6M $166.0M
Short-Term Investments
Other Short-Term Assets $80.50M $66.60M $69.60M
YoY Change -5.52% -4.31% -1.97%
Inventory $1.420B $1.423B $1.670B
Prepaid Expenses
Receivables $926.3M $943.9M $1.251B
Other Receivables $2.100M $6.900M $9.000M
Total Short-Term Assets $3.113B $3.032B $3.165B
YoY Change 3.41% -4.2% -14.29%
LONG-TERM ASSETS
Property, Plant & Equipment $1.792B $1.799B $1.776B
YoY Change -0.17% 1.33% 5.61%
Goodwill $1.935B $1.925B $1.873B
YoY Change -3.42% 2.78%
Intangibles $947.1M $955.8M $1.041B
YoY Change -8.15% -8.16%
Long-Term Investments
YoY Change
Other Assets $115.5M $91.70M $77.70M
YoY Change 29.34% 18.02% -3.84%
Total Long-Term Assets $4.994B $4.967B $4.966B
YoY Change -2.48% 0.02% 6.11%
TOTAL ASSETS
Total Short-Term Assets $3.113B $3.032B $3.165B
Total Long-Term Assets $4.994B $4.967B $4.966B
Total Assets $8.107B $7.999B $8.131B
YoY Change -0.3% -1.63% -2.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $259.3M $260.0M $385.9M
YoY Change -5.71% -32.63% -16.33%
Accrued Expenses $88.90M $103.2M $94.40M
YoY Change 31.9% 9.32% -67.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.000M $5.800M $65.20M
YoY Change -90.76% -91.1% -26.82%
Total Short-Term Liabilities $613.0M $601.9M $788.5M
YoY Change -9.23% -23.67% -6.13%
LONG-TERM LIABILITIES
Long-Term Debt $1.639B $1.638B $1.578B
YoY Change 7.57% 3.81% -20.34%
Other Long-Term Liabilities $26.70M $32.30M $14.00M
YoY Change 117.07% 130.71% -84.58%
Total Long-Term Liabilities $1.666B $1.671B $1.592B
YoY Change 8.44% 4.92% -23.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $613.0M $601.9M $788.5M
Total Long-Term Liabilities $1.666B $1.671B $1.592B
Total Liabilities $2.279B $2.273B $2.381B
YoY Change 3.05% -4.54% -29.5%
SHAREHOLDERS EQUITY
Retained Earnings $5.193B $5.126B $5.062B
YoY Change 0.07% 1.26%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.115B $5.040B $5.073B
YoY Change
Total Liabilities & Shareholders Equity $8.107B $7.999B $8.131B
YoY Change -0.3% -1.63% -2.89%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $130.5M $98.30M $163.9M
YoY Change -21.53% -40.02% 9.05%
Depreciation, Depletion And Amortization $56.50M $56.40M $54.80M
YoY Change 0.71% 2.92% 2.62%
Cash From Operating Activities $230.2M $296.3M $490.9M
YoY Change -33.74% -39.64% 260.16%
INVESTING ACTIVITIES
Capital Expenditures -$37.30M -$38.20M -$58.90M
YoY Change -37.21% -35.14% 9.07%
Acquisitions
YoY Change
Other Investing Activities -$23.40M $6.900M $4.900M
YoY Change -87.54% 40.82% -181.67%
Cash From Investing Activities -$60.70M -$31.30M -$54.00M
YoY Change -75.44% -42.04% -10.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -88.10M 98.70M -405.7M
YoY Change -13.46% -124.33% 357.9%
NET CHANGE
Cash From Operating Activities 230.2M 296.3M 490.9M
Cash From Investing Activities -60.70M -31.30M -54.00M
Cash From Financing Activities -88.10M 98.70M -405.7M
Net Change In Cash 81.40M 363.7M 31.20M
YoY Change -5187.5% 1065.71% -353.66%
FREE CASH FLOW
Cash From Operating Activities $230.2M $296.3M $490.9M
Capital Expenditures -$37.30M -$38.20M -$58.90M
Free Cash Flow $267.5M $334.5M $549.8M
YoY Change -34.24% -39.16% 188.91%

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LongTermDebtCurrentAndShortTermDebt
5800000
CY2019Q4 rs Long Term Debt Current And Short Term Debt
LongTermDebtCurrentAndShortTermDebt
64900000
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1638300000
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1523600000
rs Number Of Financial Covenants
NumberOfFinancialCovenants
2
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
20400000
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
20900000
us-gaap Operating Lease Cost
OperatingLeaseCost
61900000
us-gaap Operating Lease Cost
OperatingLeaseCost
62800000
us-gaap Operating Lease Payments
OperatingLeasePayments
61500000
us-gaap Operating Lease Payments
OperatingLeasePayments
62600000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
35800000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
53200000
rs Stock Repurchase Acquired Average Cost Per Share
StockRepurchaseAcquiredAverageCostPerShare
84.33
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
50000000.0
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-105100000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
8300000
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-96800000
CY2020Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions
4500000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions
7900000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
97600000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
162700000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
239500000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
535900000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63758000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66656000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64578000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66941000
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
930000
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1048000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
925000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
927000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64688000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67704000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65503000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67868000
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.51
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.40
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.90
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.53
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.44
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.71
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.01
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
244006
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
234429
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
157700000
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
1200000
CY2020Q3 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
9500000
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
157700000
CY2020Q1 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
137500000
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
98500000
CY2020Q3 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
500000
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
9200000
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
1200000
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
200000
CY2020Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
10000000.0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
107900000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1200000
CY2020Q3 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
14600000

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