2017 Q4 Form 10-K Financial Statement

#000156459018004385 Filed on March 05, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $810.6M $864.2M $875.4M
YoY Change 18.82% 17.56% 18.33%
Cost Of Revenue $674.1M $719.2M $735.0M
YoY Change 18.76% 21.96% 27.43%
Gross Profit $136.5M $145.0M $140.4M
YoY Change 19.11% -0.28% -13.87%
Gross Profit Margin 16.84% 16.78% 16.04%
Selling, General & Admin $128.2M $119.2M $116.7M
YoY Change 10.52% 9.26% 3.18%
% of Gross Profit 93.92% 82.21% 83.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.00M $11.90M $11.50M
YoY Change 21.5% 16.67% 7.48%
% of Gross Profit 9.52% 8.21% 8.19%
Operating Expenses $128.2M $119.2M $116.7M
YoY Change 10.52% 9.26% 3.18%
Operating Profit $8.300M $25.80M $23.70M
YoY Change -692.86% -28.93% -52.51%
Interest Expense -$23.10M -$23.20M -$22.90M
YoY Change 3.13% -1.69% 5.05%
% of Operating Profit -278.31% -89.92% -96.62%
Other Income/Expense, Net $8.500M -$1.400M -$900.0K
YoY Change 19.72% 600.0% -95.08%
Pretax Income -$6.300M $1.200M $0.00
YoY Change -58.55% -88.0% -100.0%
Income Tax $4.000M -$700.0K -$800.0K
% Of Pretax Income -58.33%
Net Earnings $300.0K $1.700M $600.0K
YoY Change -103.49% -79.27% -89.29%
Net Earnings / Revenue 0.04% 0.2% 0.07%
Basic Earnings Per Share $0.05 $0.02
Diluted Earnings Per Share $0.00 $0.05 $0.02
COMMON SHARES
Basic Shares Outstanding 37.19M 37.17M
Diluted Shares Outstanding 37.29M 37.29M

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $77.40M $73.60M $76.90M
YoY Change -4.09% 0.55% 3.22%
Cash & Equivalents $77.40M $74.90M $76.90M
Short-Term Investments
Other Short-Term Assets $33.70M $32.00M $29.40M
YoY Change 21.66% 12.68% -13.02%
Inventory $616.5M $691.7M $648.0M
Prepaid Expenses
Receivables $376.3M $425.4M $434.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.104B $1.223B $1.189B
YoY Change 10.63% 12.49% 11.17%
LONG-TERM ASSETS
Property, Plant & Equipment $422.9M $417.9M $419.9M
YoY Change 8.94% 6.25% 6.47%
Goodwill $115.3M $115.3M
YoY Change 11.72% 11.72%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $22.90M $12.90M $14.10M
YoY Change -20.21% -91.43% -90.71%
Total Long-Term Assets $608.0M $594.6M $599.3M
YoY Change 8.4% 6.87% 6.85%
TOTAL ASSETS
Total Short-Term Assets $1.104B $1.223B $1.189B
Total Long-Term Assets $608.0M $594.6M $599.3M
Total Assets $1.712B $1.817B $1.788B
YoY Change 9.83% 10.59% 9.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $275.0M $362.5M $349.6M
YoY Change 19.36% 36.79% 24.28%
Accrued Expenses $94.80M $97.70M $76.10M
YoY Change 27.59% 2.41% -5.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $21.30M $20.20M $23.30M
YoY Change 10.94% 1.0% 25.95%
Total Short-Term Liabilities $402.7M $491.0M $458.4M
YoY Change 21.15% 25.74% 17.69%
LONG-TERM LIABILITIES
Long-Term Debt $1.024B $1.021B $1.013B
YoY Change 8.48% 6.63% 0.28%
Other Long-Term Liabilities $48.70M $319.3M $65.30M
YoY Change 49.85% -2.68% 88.18%
Total Long-Term Liabilities $1.073B $1.341B $1.078B
YoY Change 9.86% 4.25% 3.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $402.7M $491.0M $458.4M
Total Long-Term Liabilities $1.073B $1.341B $1.078B
Total Liabilities $1.719B $1.834B $1.810B
YoY Change 6.92% 9.33% 3.92%
SHAREHOLDERS EQUITY
Retained Earnings -$95.10M -$96.80M
YoY Change -15.24%
Common Stock $378.0M $376.9M
YoY Change 0.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.600M $6.600M
YoY Change 0.0%
Treasury Stock Shares $212.5K $212.5K
Shareholders Equity -$10.00M -$16.80M -$24.80M
YoY Change
Total Liabilities & Shareholders Equity $1.712B $1.817B $1.788B
YoY Change 9.83% 10.59% 9.68%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $300.0K $1.700M $600.0K
YoY Change -103.49% -79.27% -89.29%
Depreciation, Depletion And Amortization $13.00M $11.90M $11.50M
YoY Change 21.5% 16.67% 7.48%
Cash From Operating Activities $90.80M -$12.20M -$48.60M
YoY Change 90.36% -52.16% 9.46%
INVESTING ACTIVITIES
Capital Expenditures -$9.300M -$5.600M -$6.200M
YoY Change 181.82% -12.5% -21.52%
Acquisitions
YoY Change
Other Investing Activities $600.0K $0.00 $2.100M
YoY Change -400.0% -100.0% 50.0%
Cash From Investing Activities -$8.700M -$5.600M -$4.100M
YoY Change 148.57% 19.15% -36.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -78.30M 12.10M 56.60M
YoY Change 119.94% -58.56% 2.72%
NET CHANGE
Cash From Operating Activities 90.80M -12.20M -48.60M
Cash From Investing Activities -8.700M -5.600M -4.100M
Cash From Financing Activities -78.30M 12.10M 56.60M
Net Change In Cash 3.800M -5.700M 3.900M
YoY Change -55.81% 470.0% -7.14%
FREE CASH FLOW
Cash From Operating Activities $90.80M -$12.20M -$48.60M
Capital Expenditures -$9.300M -$5.600M -$6.200M
Free Cash Flow $100.1M -$6.600M -$42.40M
YoY Change 96.27% -65.45% 16.16%

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5600000
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12400000
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2200000
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5600000
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1800000
CY2017 ryi Other Than Temporary Impairment Losses Investment Tax Expense Benefit
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100000
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3167200000
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2599500000
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-700000
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100000
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200000
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59900000
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74300000
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1900000
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24900000
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66600000
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12400000
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16600000
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-164400000
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1300000
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4000000
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-18000000
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3600000
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-3500000
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0
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14400000
CY2016 us-gaap Repayments Of Long Term Capital Lease Obligations
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4800000
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3900000
CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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900000
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17500000
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80700000
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63200000
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60000000
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84900000
CY2016 us-gaap Interest Paid
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89200000
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400000
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377600000
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-95100000
CY2017Q4 us-gaap Treasury Stock Value
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6600000
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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-286300000
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-10000000
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2600000
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-7400000
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1711900000
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4900000
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
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0
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0.01
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37421081
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212500
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-124500000
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-140900000
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-6200000
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-1100000
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2900000
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1400000
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-1300000
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7200000
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7500000
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115300000
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22300000
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3800000
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3200000
CY2015 us-gaap Proceeds From Sale Of Property Plant And Equipment
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10400000
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600000
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-1300000
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-71700000
CY2016 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-20700000
CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-18000000
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71500000
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738800000
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37000000
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5200000
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1700000
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400000
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8900000
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-5700000
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3200000
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77400000
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3200000
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11500000
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1100000
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1000000
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376300000
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326000000
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616500000
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563400000
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32600000
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26700000
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997800000
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422900000
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388200000
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17900000
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24400000
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46900000
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5000000
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40300000
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36800000
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10000000
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48400000
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21300000
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7700000
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1024400000
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8900000
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92600000
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198800000
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377900000
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0
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700000
CY2017Q4 us-gaap Commitments And Contingencies
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1500000
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100000000
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3300000
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-5500000
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7600000
CY2015 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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600000
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19500000
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1100000
CY2016 us-gaap Stock Issued During Period Value New Issues
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71500000
CY2016 ryi Other Comprehensive Income Loss Liquidation Of Investment In Foreign Entity
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1200000
CY2017 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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18000000
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-200000
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100000
CY2017 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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600000
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4500000
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4400000
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-3400000
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4700000
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400000
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19200000
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65500000
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23500000
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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;text-indent:4.54%;font-size:10pt;">&nbsp;</p> <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="color:#000000;font-style:normal;">Certain amounts in the 201</font><font style="color:#000000;font-style:normal;">6 and 2015 financial statements, as previously reported, have been revised to conform to the 2017 presentation. These changes did not have a material impact on the presentation of the consolidated financial statements.</font></p></div>
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7900000
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3700000
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668700000
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319800000
CY2017Q4 ryi Parent Company Percentage Owned By Affiliates
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0.57
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21037500
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1
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1
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77800000
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51200000
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-2800000
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-4000000
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3300000
CY2017Q4 us-gaap Inventory Lifo Reserve
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71000000
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115000000
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0
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23900000
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11100000
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89100000
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191200000
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361200000
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1000000
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1200000
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200000
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384300000
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650200000
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100000
CY2017 us-gaap Defined Contribution Plan Cost Recognized
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7200000
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6900000
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280500000
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100000
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400000
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-200000
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
1500000
CY2017 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
800000
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500000
CY2017 ryi Restructuring Reserve Reclassification
RestructuringReserveReclassification
100000
CY2017 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-200000
CY2017 us-gaap Defined Benefit Plan Benefit Obligation Period Increase Decrease
DefinedBenefitPlanBenefitObligationPeriodIncreaseDecrease
-5000000
CY2017Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
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0
CY2016Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
3600000
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
88300000
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
41400000
CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
76100000
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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35300000
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5800000
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5500000
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4600000
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4500000
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500000
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2800000
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100000
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EarningsPerShareDiluted
0.40
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37176398
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34295829
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32057764
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
117804
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
105417
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37294202
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34401246
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32057764
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
702600000
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
739800000
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
735100000
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
682200000
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
814500000
CY2016Q4 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
1900000
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
875400000
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
864200000
CY2017Q4 us-gaap Sales Revenue Net
SalesRevenueNet
810600000
CY2016Q1 us-gaap Gross Profit
GrossProfit
147600000
CY2016Q2 us-gaap Gross Profit
GrossProfit
163000000
CY2016Q3 us-gaap Gross Profit
GrossProfit
145400000
CY2016Q4 us-gaap Gross Profit
GrossProfit
114600000
CY2017Q1 us-gaap Gross Profit
GrossProfit
160600000
CY2017Q2 us-gaap Gross Profit
GrossProfit
140400000
CY2017Q3 us-gaap Gross Profit
GrossProfit
145000000
CY2017Q4 us-gaap Gross Profit
GrossProfit
136500000
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2016Q1 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
8200000
CY2016Q2 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-15100000
CY2016Q2 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
2800000
CY2016Q4 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-1500000
CY2016Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-15200000
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
21800000
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1200000
CY2017Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6300000
CY2016Q1 us-gaap Profit Loss
ProfitLoss
13500000
CY2016Q2 us-gaap Profit Loss
ProfitLoss
5400000
CY2016Q3 us-gaap Profit Loss
ProfitLoss
8400000
CY2016Q4 us-gaap Profit Loss
ProfitLoss
-8400000
CY2017Q1 us-gaap Profit Loss
ProfitLoss
15000000
CY2017Q2 us-gaap Profit Loss
ProfitLoss
800000
CY2017Q3 us-gaap Profit Loss
ProfitLoss
1900000
CY2017Q4 us-gaap Profit Loss
ProfitLoss
300000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
13500000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
5600000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
8200000
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-8600000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
14800000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
600000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
1700000
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.42
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40

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