Condensed Consolidating Guarantor Financial Statements | 3 Months Ended |
Mar. 31, 2015 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Condensed Consolidating Guarantor Financial Statements | NOTE 14: CONDENSED CONSOLIDATING GUARANTOR FINANCIAL STATEMENTS |
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On October 10, 2012, JT Ryerson issued the 2017 and 2018 Notes. The 2017 Notes are fully and unconditionally guaranteed on a senior secured basis and the 2018 Notes are fully and unconditionally guaranteed on a senior unsecured basis by all of our existing and future domestic subsidiaries that are co-borrowers or that have guarantee obligations under the Ryerson Credit Facility. On December 30, 2014, Ryerson entered into agreements with JT Ryerson, as issuer, Wells Fargo Bank, as trustee, and each of the guarantors of the 2017 and 2018 Notes, whereby Ryerson provided unconditional guarantees of the 2017 and 2018 Notes, jointly and severally with the other guarantors of the 2017 and 2018 Notes. Each guarantor of the 2017 and 2018 Notes is 100% owned by Ryerson and the guarantees are joint and several. JT Ryerson may only pay dividends to Ryerson to the extent of 50% of future net income, once prior losses are offset. Presented below is the condensed consolidating financial information of Ryerson and its subsidiaries as of March 31, 2015 and 2014 and for the three month periods ended March 31, 2015 and 2014. |
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RYERSON HOLDING CORPORATION |
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CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) |
|
THREE MONTHS ENDED MARCH 31, 2015 |
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(In millions) |
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| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
Net sales | | $ | — | | | $ | 738.1 | | | $ | 531.4 | | | $ | 102.2 | | | $ | (503.7 | ) | | $ | 868 | |
Cost of materials sold | | | — | | | | 615.5 | | | | 518.5 | | | | 87.7 | | | | (503.7 | ) | | | 718 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | 122.6 | | | | 12.9 | | | | 14.5 | | | | — | | | | 150 | |
Warehousing, delivery, selling, general and administrative | | | 0.1 | | | | 93.8 | | | | 7.7 | | | | 14.8 | | | | — | | | | 116.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | (0.1 | ) | | | 28.8 | | | | 5.2 | | | | (0.3 | ) | | | — | | | | 33.6 | |
Other income and (expense), net | | | — | | | | (0.5 | ) | | | (12.3 | ) | | | 1.5 | | | | — | | | | (11.3 | ) |
Interest and other expense on debt | | | — | | | | (24.5 | ) | | | — | | | | (0.8 | ) | | | — | | | | (25.3 | ) |
Intercompany transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense on intercompany loans | | | — | | | | (0.9 | ) | | | — | | | | (1.0 | ) | | | 1.9 | | | | — | |
Interest income on intercompany loans | | | — | | | | — | | | | 1.9 | | | | — | | | | (1.9 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | (0.1 | ) | | | 2.9 | | | | (5.2 | ) | | | (0.6 | ) | | | — | | | | (3.0 | ) |
Provision (benefit) for income taxes | | | — | | | | 2.2 | | | | (3.1 | ) | | | 0.7 | | | | — | | | | (0.2 | ) |
Equity in loss of subsidiaries | | | 2.4 | | | | 3.1 | | | | 0.8 | | | | — | | | | (6.3 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net loss | | | (2.5 | ) | | | (2.4 | ) | | | (2.9 | ) | | | (1.3 | ) | | | 6.3 | | | | (2.8 | ) |
Less: Net loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | (0.3 | ) | | | — | | | | (0.3 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net loss attributable to Ryerson Holding Corporation | | $ | (2.5 | ) | | $ | (2.4 | ) | | $ | (2.9 | ) | | $ | (1.0 | ) | | $ | 6.3 | | | $ | (2.5 | ) |
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Comprehensive income (loss) | | $ | (8.8 | ) | | $ | (8.8 | ) | | $ | 0.9 | | | $ | (7.4 | ) | | $ | 15 | | | $ | (9.1 | ) |
Less: Comprehensive loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | (0.3 | ) | | | — | | | | (0.3 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to Ryerson Holding Corporation | | $ | (8.8 | ) | | $ | (8.8 | ) | | $ | 0.9 | | | $ | (7.1 | ) | | $ | 15 | | | $ | (8.8 | ) |
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|
RYERSON HOLDING CORPORATION |
|
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) |
|
THREE MONTHS ENDED MARCH 31, 2014 |
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(In millions) |
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| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
Net sales | | $ | — | | | $ | 742.8 | | | $ | 568.6 | | | $ | 111.9 | | | $ | (548.9 | ) | | $ | 874.4 | |
Cost of materials sold | | | — | | | | 624.8 | | | | 556.7 | | | | 94.1 | | | | (548.9 | ) | | | 726.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | 118 | | | | 11.9 | | | | 17.8 | | | | — | | | | 147.7 | |
Warehousing, delivery, selling, general and administrative | | | — | | | | 93.9 | | | | 6.1 | | | | 17.8 | | | | — | | | | 117.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit | | | — | | | | 24.1 | | | | 5.8 | | | | — | | | | — | | | | 29.9 | |
Other income and (expense), net | | | — | | | | — | | | | — | | | | 2 | | | | — | | | | 2 | |
Interest and other expense on debt | | | — | | | | (26.8 | ) | | | — | | | | (0.6 | ) | | | — | | | | (27.4 | ) |
Intercompany transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense on intercompany loans | | | — | | | | (1.8 | ) | | | — | | | | — | | | | 1.8 | | | | — | |
Interest income on intercompany loans | | | — | | | | — | | | | 1.8 | | | | — | | | | (1.8 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | — | | | | (4.5 | ) | | | 7.6 | | | | 1.4 | | | | — | | | | 4.5 | |
Provision (benefit) for income taxes | | | (0.4 | ) | | | (2.0 | ) | | | 4 | | | | 1.5 | | | | — | | | | 3.1 | |
Equity in earnings of subsidiaries | | | (1.2 | ) | | | (3.7 | ) | | | (0.1 | ) | | | — | | | | 5 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | 1.6 | | | | 1.2 | | | | 3.7 | | | | (0.1 | ) | | | (5.0 | ) | | | 1.4 | |
Less: Net loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | (0.2 | ) | | | — | | | | (0.2 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Ryerson Holding Corporation | | $ | 1.6 | | | $ | 1.2 | | | $ | 3.7 | | | $ | 0.1 | | | $ | (5.0 | ) | | $ | 1.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) | | $ | (5.4 | ) | | $ | (5.9 | ) | | $ | 3.6 | | | $ | (7.1 | ) | | $ | 9.2 | | | $ | (5.6 | ) |
Less: Comprehensive loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | (0.2 | ) | | | — | | | | (0.2 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to Ryerson Holding Corporation | | $ | (5.4 | ) | | $ | (5.9 | ) | | $ | 3.6 | | | $ | (6.9 | ) | | $ | 9.2 | | | $ | (5.4 | ) |
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|
RYERSON HOLDING CORPORATION |
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CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED) |
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THREE MONTHS ENDED MARCH 31, 2015 |
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(In millions) |
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| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
OPERATING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Net loss | | $ | (2.5 | ) | | $ | (2.4 | ) | | $ | (2.9 | ) | | $ | (1.3 | ) | | $ | 6.3 | | | $ | (2.8 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Non-cash expenses | | | — | | | | 12 | | | | 9.9 | | | | 2.3 | | | | — | | | | 24.2 | |
Equity in loss of subsidiaries | | | 2.4 | | | | 3.1 | | | | 0.8 | | | | — | | | | (6.3 | ) | | | — | |
Changes in working capital | | | 0.1 | | | | 50.5 | | | | 26.3 | | | | 3.3 | | | | — | | | | 80.2 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net adjustments | | | 2.5 | | | | 65.6 | | | | 37 | | | | 5.6 | | | | (6.3 | ) | | | 104.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by operating activities | | | — | | | | 63.2 | | | | 34.1 | | | | 4.3 | | | | — | | | | 101.6 | |
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INVESTING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Capital expenditures | | | — | | | | (4.9 | ) | | | (0.3 | ) | | | (0.5 | ) | | | — | | | | (5.7 | ) |
Loan repayment from related companies | | | — | | | | — | | | | 8.4 | | | | — | | | | (8.4 | ) | | | — | |
Other investing activities | | | — | | | | — | | | | — | | | | 0.1 | | | | — | | | | 0.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) investing activities | | | — | | | | (4.9 | ) | | | 8.1 | | | | (0.4 | ) | | | (8.4 | ) | | | (5.6 | ) |
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FINANCING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Long-term debt retired | | | — | | | | (30.3 | ) | | | — | | | | — | | | | — | | | | (30.3 | ) |
Net proceeds/(repayments) of short-term borrowings | | | — | | | | (27.9 | ) | | | — | | | | 1 | | | | — | | | | (26.9 | ) |
Repayment of intercompany borrowings | | | — | | | | (8.4 | ) | | | — | | | | — | | | | 8.4 | | | | — | |
Net increase (decrease) in book overdrafts | | | — | | | | 16 | | | | (41.1 | ) | | | — | | | | — | | | | (25.1 | ) |
Other financing activities | | | — | | | | (0.4 | ) | | | — | | | | — | | | | — | | | | (0.4 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) financing activities | | | — | | | | (51.0 | ) | | | (41.1 | ) | | | 1 | | | | 8.4 | | | | (82.7 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net increase in cash and cash equivalents | | | — | | | | 7.3 | | | | 1.1 | | | | 4.9 | | | | — | | | | 13.3 | |
Effect of exchange rates | | | — | | | | — | | | | — | | | | (2.5 | ) | | | — | | | | (2.5 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net change in cash and cash equivalents | | | — | | | | 7.3 | | | | 1.1 | | | | 2.4 | | | | — | | | | 10.8 | |
Beginning cash and cash equivalents | | | 11.1 | | | | 4.6 | | | | 0.7 | | | | 43.6 | | | | — | | | | 60 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Ending cash and cash equivalents | | $ | 11.1 | | | $ | 11.9 | | | $ | 1.8 | | | $ | 46 | | | $ | — | | | $ | 70.8 | |
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|
RYERSON HOLDING CORPORATION |
|
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED) |
|
THREE MONTHS ENDED MARCH 31, 2014 |
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(In millions) |
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| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
OPERATING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | $ | 1.6 | | | $ | 1.2 | | | $ | 3.7 | | | $ | (0.1 | ) | | $ | (5.0 | ) | | $ | 1.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Non-cash expenses | | | (0.4 | ) | | | 8.8 | | | | 5.1 | | | | 1.7 | | | | 1.5 | | | | 16.7 | |
Equity in earnings of subsidiaries | | | (1.2 | ) | | | (3.7 | ) | | | (0.1 | ) | | | — | | | | 5 | | | | — | |
Changes in working capital | | | — | | | | 31.6 | | | | (13.2 | ) | | | (9.9 | ) | | | (1.5 | ) | | | 7 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net adjustments | | | (1.6 | ) | | | 36.7 | | | | (8.2 | ) | | | (8.2 | ) | | | 5 | | | | 23.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | | — | | | | 37.9 | | | | (4.5 | ) | | | (8.3 | ) | | | — | | | | 25.1 | |
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INVESTING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Capital expenditures | | | — | | | | (3.0 | ) | | | (0.2 | ) | | | (0.2 | ) | | | — | | | | (3.4 | ) |
Other investing activities | | | — | | | | 0.1 | | | | (4.4 | ) | | | — | | | | 4.4 | | | | 0.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | — | | | | (2.9 | ) | | | (4.6 | ) | | | (0.2 | ) | | | 4.4 | | | | (3.3 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
FINANCING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Net proceeds/(repayments) of short-term borrowings | | | — | | | | (26.6 | ) | | | — | | | | 6.8 | | | | — | | | | (19.8 | ) |
Net increase in book overdrafts | | | — | | | | 12.2 | | | | 12.8 | | | | — | | | | — | | | | 25 | |
Other financing activities | | | — | | | | 4.2 | | | | — | | | | — | | | | (4.4 | ) | | | (0.2 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) financing activities | | | — | | | | (10.2 | ) | | | 12.8 | | | | 6.8 | | | | (4.4 | ) | | | 5 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net increase (decrease) in cash and cash equivalents | | | — | | | | 24.8 | | | | 3.7 | | | | (1.7 | ) | | | — | | | | 26.8 | |
Effect of exchange rates | | | — | | | | — | | | | — | | | | (3.8 | ) | | | — | | | | (3.8 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net change in cash and cash equivalents | | | — | | | | 24.8 | | | | 3.7 | | | | (5.5 | ) | | | — | | | | 23 | |
Beginning cash and cash equivalents | | | 0.4 | | | | 7.8 | | | | 2.4 | | | | 63.8 | | | | — | | | | 74.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Ending cash and cash equivalents | | $ | 0.4 | | | $ | 32.6 | | | $ | 6.1 | | | $ | 58.3 | | | $ | — | | | $ | 97.4 | |
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|
RYERSON HOLDING CORPORATION |
|
CONDENSED CONSOLIDATING BALANCE SHEET (UNAUDITED) |
|
31-Mar-15 |
|
(In millions) |
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| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
ASSETS | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 11.1 | | | $ | 11.9 | | | $ | 1.8 | | | $ | 46 | | | $ | — | | | $ | 70.8 | |
Receivables less provision for allowances, claims and doubtful accounts | | | — | | | | 318.8 | | | | 14.3 | | | | 79.6 | | | | — | | | | 412.7 | |
Inventories | | | — | | | | 562.8 | | | | 29.1 | | | | 71.4 | | | | — | | | | 663.3 | |
Intercompany receivable | | | 11.3 | | | | — | | | | 158.9 | | | | — | | | | (170.2 | ) | | | — | |
Other current assets | | | 0.3 | | | | 15 | | | | 8.4 | | | | 15.4 | | | | (3.8 | ) | | | 35.3 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 22.7 | | | | 908.5 | | | | 212.5 | | | | 212.4 | | | | (174.0 | ) | | | 1,182.10 | |
Investments in subsidiaries | | | — | | | | 463.9 | | | | 290 | | | | — | | | | (753.9 | ) | | | — | |
Intercompany notes receivable | | | — | | | | — | | | | 212.9 | | | | — | | | | (212.9 | ) | | | — | |
Property, plant and equipment net of accumulated depreciation | | | — | | | | 371.3 | | | | 8.1 | | | | 40.7 | | | | — | | | | 420.1 | |
Other noncurrent assets | | | 39.2 | | | | 189 | | | | 75.7 | | | | 5.2 | | | | (8.1 | ) | | | 301 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 61.9 | | | $ | 1,932.70 | | | $ | 799.2 | | | $ | 258.3 | | | $ | (1,148.9 | ) | | $ | 1,903.20 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | | | | | |
Accounts payable | | $ | 10 | | | $ | 57.6 | | | $ | 121.9 | | | $ | 37.3 | | | $ | 0.1 | | | $ | 226.9 | |
Intercompany payable | | | — | | | | 144.9 | | | | — | | | | 25.3 | | | | (170.2 | ) | | | — | |
Other current liabilities | | | 0.5 | | | | 217.4 | | | | 1.5 | | | | 34.8 | | | | (5.3 | ) | | | 248.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 10.5 | | | | 419.9 | | | | 123.4 | | | | 97.4 | | | | (175.4 | ) | | | 475.8 | |
Dividends in excess of investment in subsidiaries | | | 188.7 | | | | — | | | | — | | | | — | | | | (188.7 | ) | | | — | |
Long-term debt | | | — | | | | 1,170.40 | | | | — | | | | — | | | | — | | | | 1,170.40 | |
Long-term debt – intercompany | | | — | | | | 165.6 | | | | — | | | | 47.3 | | | | (212.9 | ) | | | — | |
Deferred employee benefits | | | — | | | | 345.5 | | | | — | | | | 23.1 | | | | — | | | | 368.6 | |
Other noncurrent liabilities | | | — | | | | 20 | | | | 6 | | | | 4.1 | | | | (6.7 | ) | | | 23.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | 199.2 | | | | 2,121.40 | | | | 129.4 | | | | 171.9 | | | | (583.7 | ) | | | 2,038.20 | |
Redeemable noncontrolling interest | | | — | | | | — | | | | — | | | | 0.8 | | | | — | | | | 0.8 | |
Ryerson Holding Corporation stockholders’ equity | | | (137.3 | ) | | | (188.7 | ) | | | 669.8 | | | | 84.1 | | | | (565.2 | ) | | | (137.3 | ) |
Noncontrolling interest | | | — | | | | — | | | | — | | | | 1.5 | | | | — | | | | 1.5 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities and equity | | $ | 61.9 | | | $ | 1,932.70 | | | $ | 799.2 | | | $ | 258.3 | | | $ | (1,148.9 | ) | | $ | 1,903.20 | |
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|
RYERSON HOLDING CORPORATION |
|
CONDENSED CONSOLIDATING BALANCE SHEET |
|
31-Dec-14 |
|
(In millions) |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
ASSETS | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 11.1 | | | $ | 4.6 | | | $ | 0.7 | | | $ | 43.6 | | | $ | — | | | $ | 60 | |
Receivables less provision for allowances, claims and doubtful accounts | | | — | | | | 303.3 | | | | 14 | | | | 83.5 | | | | — | | | | 400.8 | |
Inventories | | | — | | | | 633.5 | | | | 32 | | | | 73.4 | | | | — | | | | 738.9 | |
Intercompany receivable | | | 11.4 | | | | — | | | | 157.3 | | | | — | | | | (168.7 | ) | | | — | |
Other current assets | | | 0.2 | | | | 12.5 | | | | 14.4 | | | | 17.4 | | | | (2.8 | ) | | | 41.7 | |
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Total current assets | | | 22.7 | | | | 953.9 | | | | 218.4 | | | | 217.9 | | | | (171.5 | ) | | | 1,241.40 | |
Investments in subsidiaries | | | — | | | | 469.2 | | | | 316.5 | | | | — | | | | (785.7 | ) | | | — | |
Intercompany notes receivable | | | — | | | | — | | | | 221.3 | | | | — | | | | (221.3 | ) | | | — | |
Property, plant and equipment net of accumulated depreciation | | | — | | | | 373.2 | | | | 8.1 | | | | 44.5 | | | | — | | | | 425.8 | |
Deferred income taxes | | | 39.2 | | | | 99 | | | | — | | | | 3.1 | | | | (7.2 | ) | | | 134.1 | |
Other noncurrent assets | | | — | | | | 95.3 | | | | 77.7 | | | | 3 | | | | (0.4 | ) | | | 175.6 | |
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Total assets | | $ | 61.9 | | | $ | 1,990.60 | | | $ | 842 | | | $ | 268.5 | | | $ | (1,186.1 | ) | | $ | 1,976.90 | |
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LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | | | | | |
Accounts payable | | $ | 10 | | | $ | 38 | | | $ | 137.1 | | | $ | 35.4 | | | $ | 0.3 | | | $ | 220.8 | |
Intercompany payable | | | — | | | | 147.3 | | | | — | | | | 21.6 | | | | (168.9 | ) | | | — | |
Deferred income taxes | | | — | | | | 109.1 | | | | — | | | | — | | | | (2.4 | ) | | | 106.7 | |
Other current liabilities | | | 0.5 | | | | 135.6 | | | | 1.9 | | | | 36.2 | | | | 0.5 | | | | 174.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 10.5 | | | | 430 | | | | 139 | | | | 93.2 | | | | (170.5 | ) | | | 502.2 | |
Dividends in excess of investment in subsidiaries | | | 179.9 | | | | — | | | | — | | | | — | | | | (179.9 | ) | | | — | |
Long-term debt | | | — | | | | 1,192.50 | | | | — | | | | — | | | | — | | | | 1,192.50 | |
Long-term debt – intercompany | | | — | | | | 169.6 | | | | — | | | | 51.7 | | | | (221.3 | ) | | | — | |
Deferred employee benefits | | | — | | | | 359.5 | | | | — | | | | 25.7 | | | | — | | | | 385.2 | |
Other noncurrent liabilities | | | — | | | | 18.9 | | | | 8.4 | | | | 4.2 | | | | (8.6 | ) | | | 22.9 | |
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Total liabilities | | | 190.4 | | | | 2,170.50 | | | | 147.4 | | | | 174.8 | | | | (580.3 | ) | | | 2,102.80 | |
Redeemable noncontrolling interest | | | — | | | | — | | | | — | | | | 1 | | | | — | | | | 1 | |
Ryerson Holding Corporation stockholders’ equity | | | (128.5 | ) | | | (179.9 | ) | | | 694.6 | | | | 91.1 | | | | (605.8 | ) | | | (128.5 | ) |
Noncontrolling interest | | | — | | | | — | | | | — | | | | 1.6 | | | | — | | | | 1.6 | |
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Total liabilities and equity | | $ | 61.9 | | | $ | 1,990.60 | | | $ | 842 | | | $ | 268.5 | | | $ | (1,186.1 | ) | | $ | 1,976.90 | |
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