2015 Form 10-K Financial Statement

#000156459016014318 Filed on March 09, 2016

View on sec.gov

Income Statement

Concept 2015 2014 Q4 2014 Q3
Revenue $3.167B $868.4M $947.9M
YoY Change -12.56% 8.21% 10.25%
Cost Of Revenue $2.600B $726.2M $798.4M
YoY Change -14.16% 10.82% 13.3%
Gross Profit $567.7M $142.2M $149.5M
YoY Change -4.4% -3.4% -3.61%
Gross Profit Margin 17.92% 16.37% 15.77%
Selling, General & Admin $450.8M $117.1M $154.1M
YoY Change -11.47% 0.17% 28.2%
% of Gross Profit 79.41% 82.35% 103.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $43.70M $11.60M $11.60M
YoY Change -4.17% -2.52% -3.33%
% of Gross Profit 7.7% 8.16% 7.76%
Operating Expenses $450.8M $117.1M $154.1M
YoY Change -11.47% 0.17% 28.2%
Operating Profit $108.6M $25.10M -$3.300M
YoY Change 25.69% -17.16% -109.76%
Interest Expense -$96.30M -$24.60M $27.90M
YoY Change -189.66% -9.56% 2.95%
% of Operating Profit -88.67% -98.01%
Other Income/Expense, Net -$10.40M $2.300M -$8.500M
YoY Change 76.27% -200.0% 672.73%
Pretax Income $1.900M $3.300M -$39.70M
YoY Change -107.06% -1750.0% -808.93%
Income Tax $3.700M -$1.400M -$4.900M
% Of Pretax Income 194.74% -42.42%
Net Earnings -$500.0K $4.800M -$34.70M
YoY Change -98.05% -95.94% -1256.67%
Net Earnings / Revenue -0.02% 0.55% -3.66%
Basic Earnings Per Share -$0.02 -$1.26
Diluted Earnings Per Share -$0.02 $150.9K -$1.26
COMMON SHARES
Basic Shares Outstanding 32.06M 32.04M shares 27.49M
Diluted Shares Outstanding 32.06M 27.49M

Balance Sheet

Concept 2015 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $63.20M $60.00M $80.50M
YoY Change 5.33% -19.35% -0.74%
Cash & Equivalents $63.20M $60.00M $80.50M
Short-Term Investments
Other Short-Term Assets $34.00M $41.70M $39.00M
YoY Change -18.47% -16.6% -25.71%
Inventory $555.8M $738.9M $736.0M
Prepaid Expenses
Receivables $305.7M $400.8M $467.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $958.7M $1.241B $1.323B
YoY Change -22.77% 0.17% 5.25%
LONG-TERM ASSETS
Property, Plant & Equipment $400.3M $428.2M $423.2M
YoY Change -6.52% -3.06% -6.04%
Goodwill $102.7M $91.60M
YoY Change 12.12%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $36.80M $175.6M $122.1M
YoY Change -25.51% 1.27% 66.58%
Total Long-Term Assets $586.5M $631.2M $683.6M
YoY Change -7.08% -11.41% 2.66%
TOTAL ASSETS
Total Short-Term Assets $958.7M $1.241B $1.323B
Total Long-Term Assets $586.5M $631.2M $683.6M
Total Assets $1.545B $1.873B $2.006B
YoY Change -17.48% -4.06% 4.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $206.3M $220.8M $296.0M
YoY Change -6.57% 6.51% 23.33%
Accrued Expenses $74.80M $97.00M $115.0M
YoY Change -22.89% 13.85% 3.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $66.60M $29.70M
YoY Change -100.0% 106.19% 37.5%
Long-Term Debt Due $22.00M $66.60M
YoY Change
Total Short-Term Liabilities $315.7M $395.5M $573.1M
YoY Change -20.18% -14.13% 10.7%
LONG-TERM LIABILITIES
Long-Term Debt $1.002B $1.193B $1.198B
YoY Change -16.02% -5.54% -1.67%
Other Long-Term Liabilities $368.8M $22.90M $19.50M
YoY Change -9.63% 37.13% -95.87%
Total Long-Term Liabilities $1.370B $22.90M $1.218B
YoY Change -14.39% 37.13% -27.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $315.7M $395.5M $573.1M
Total Long-Term Liabilities $1.370B $22.90M $1.218B
Total Liabilities $1.687B $1.996B $2.044B
YoY Change -15.61% -3.13% -7.55%
SHAREHOLDERS EQUITY
Retained Earnings -$130.4M -$137.6M
YoY Change 24.55%
Common Stock $302.3M $302.3M
YoY Change 59.19%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.600M $6.600M
YoY Change 0.0%
Treasury Stock Shares $212.5K 212.5K shares
Shareholders Equity -$141.6M -$126.1M -$41.10M
YoY Change
Total Liabilities & Shareholders Equity $1.545B $1.873B $2.006B
YoY Change -17.48% -4.06% 4.35%

Cashflow Statement

Concept 2015 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income -$500.0K $4.800M -$34.70M
YoY Change -98.05% -95.94% -1256.67%
Depreciation, Depletion And Amortization $43.70M $11.60M $11.60M
YoY Change -4.17% -2.52% -3.33%
Cash From Operating Activities $259.1M -$38.60M -$44.20M
YoY Change -453.48% -3.26% -220.77%
INVESTING ACTIVITIES
Capital Expenditures $22.30M -$7.900M -$5.500M
YoY Change 3.24% 113.51% -8.33%
Acquisitions $8.800M
YoY Change -56.22%
Other Investing Activities -$1.300M -$16.20M $2.700M
YoY Change 116.67% -622.58% 440.0%
Cash From Investing Activities -$18.00M -$24.10M -$2.800M
YoY Change -47.06% 3916.67% -49.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $59.90M
YoY Change -45.89%
Cash From Financing Activities -232.2M 45.20M 48.30M
YoY Change -331.04% 25.91% -275.64%
NET CHANGE
Cash From Operating Activities 259.1M -38.60M -44.20M
Cash From Investing Activities -18.00M -24.10M -2.800M
Cash From Financing Activities -232.2M 45.20M 48.30M
Net Change In Cash 8.900M -17.50M 1.300M
YoY Change -230.88% 280.43% -63.89%
FREE CASH FLOW
Cash From Operating Activities $259.1M -$38.60M -$44.20M
Capital Expenditures $22.30M -$7.900M -$5.500M
Free Cash Flow $236.8M -$30.70M -$38.70M
YoY Change -349.53% -15.19% -190.85%

Facts In Submission

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76700000
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3300000
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5500000
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7600000
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49500000
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4500000
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4700000
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<div> <p style="margin-bottom:0pt;margin-top:12pt;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Use of Estimates<font style="font-style:normal;">.&#160;The preparation of financial statements in conformity with Generally Accepted Accounting Principles (&#8220;GAAP&#8221;) in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and related notes to the financial statements. Changes in such estimates may affect amounts reported in future periods.</font></p></div>
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<div> <p style="margin-bottom:0pt;margin-top:12pt;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Reclassifications. <font style="font-style:normal;">Certain deferred tax balances have been reclassified to conform to the 2015 presentation in accordance with Accounting Standards Update (&#8220;ASU&#8221;) 2015-17, </font>&#8220;Income Taxes, (Topic 740): Balance Sheet Classification of Deferred Taxes.&#8221;</p></div>
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1
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4.25
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200000
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300000
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300000
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77800000
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3300000
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31300000
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6300000
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2500000
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200000
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The method we have chosen for amortizing actuarial gains and losses is to recognize amounts in excess of a 10% corridor (10% of the greater of the projected benefit obligation or plan assets) and are amortized over the average expected remaining lifetime of the participants in the pension plan and over the average expected remaining service period for the other postretirement benefits.
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200000
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Ryerson participate in two multiemployer pension plans covering 56 employees at 4 locations.
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170400000
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0
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0
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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0
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5900000
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6800000
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6900000
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5100000
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17100000
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18500000
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P4Y
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3500000
CY2015Q4 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
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1.00
CY2014Q4 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
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1.00
CY2015 us-gaap Defined Benefit Plan Target Plan Asset Allocations
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1.00
CY2015Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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608000000
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680000000
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42500000
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48000000
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22000000
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500000
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P25Y
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due
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98100000
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24900000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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20200000
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15000000
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12100000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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9100000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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16800000
CY2015 us-gaap Operating Leases Rent Expense Net
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31800000
CY2014 ryi Percentage Of Net Sales In Foreign Countries
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0.13
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0.14
CY2015 ryi Percentage Of Long Lived Assets In Foreign Countries
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0.07
CY2014 ryi Percentage Of Long Lived Assets In Foreign Countries
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