Condensed Consolidating Guarantor Financial Statements | 9 Months Ended |
Sep. 30, 2013 |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' |
Condensed Consolidating Guarantor Financial Statements | ' |
NOTE 13: CONDENSED CONSOLIDATING GUARANTOR FINANCIAL STATEMENTS |
On October 10, 2012, Ryerson and 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 guarantee obligations under the Ryerson Credit Facility. Each guarantor of the 2017 and 2018 Notes is 100% owned by Ryerson and the guarantees are joint and several. Ryerson Inc. may only pay dividends to Ryerson Holding to the extent of 50% of future net income, once prior losses are offset. |
The following are condensed consolidating financial information of Ryerson and its guarantor and non-guarantor subsidiaries and affiliates as of September 30, 2013 and December 31, 2012 and for the three-month and nine-month periods ended September 30, 2013 and 2012: |
RYERSON INC. |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) |
THREE MONTHS ENDED SEPTEMBER 30, 2013 |
(In millions) |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non- | | | Eliminations | | | Consolidated | |
Ryerson | guarantor |
Net sales | | $ | — | | | $ | 726.2 | | | $ | 596.5 | | | $ | 116.3 | | | $ | (579.2 | ) | | $ | 859.8 | |
Cost of materials sold | | | — | | | | 599.2 | | | | 585.7 | | | | 99 | | | | (579.2 | ) | | | 704.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | 127 | | | | 10.8 | | | | 17.3 | | | | — | | | | 155.1 | |
Warehousing, delivery, selling, general and administrative | | | 1.3 | | | | 91.3 | | | | 6.3 | | | | 20.7 | | | | — | | | | 119.6 | |
Impairment charge on goodwill | | | — | | | | 1.1 | | | | — | | | | — | | | | — | | | | 1.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | (1.3 | ) | | | 34.6 | | | | 4.5 | | | | (3.4 | ) | | | — | | | | 34.4 | |
Other income and (expense), net | | | — | | | | — | | | | — | | | | (1.1 | ) | | | — | | | | (1.1 | ) |
Interest and other expense on debt | | | (3.3 | ) | | | (23.1 | ) | | | — | | | | (0.7 | ) | | | — | | | | (27.1 | ) |
Intercompany transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense on intercompany loans | | | (7.4 | ) | | | — | | | | — | | | | — | | | | 7.4 | | | | — | |
Interest income on intercompany loans | | | — | | | | 5.5 | | | | 1.9 | | | | — | | | | (7.4 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | (12.0 | ) | | | 17 | | | | 6.4 | | | | (5.2 | ) | | | — | | | | 6.2 | |
Provision (benefit) for income taxes | | | (8.6 | ) | | | 12.2 | | | | 5.3 | | | | (6.0 | ) | | | — | | | | 2.9 | |
Equity in earnings of subsidiaries | | | (7.7 | ) | | | (4.7 | ) | | | (4.1 | ) | | | — | | | | 16.5 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | | 4.3 | | | | 9.5 | | | | 5.2 | | | | 0.8 | | | | (16.5 | ) | | | 3.3 | |
Less: Net loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | (1.0 | ) | | | — | | | | (1.0 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Ryerson Inc. | | $ | 4.3 | | | $ | 9.5 | | | $ | 5.2 | | | $ | 1.8 | | | $ | (16.5 | ) | | $ | 4.3 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income | | $ | 9.8 | | | $ | 10.3 | | | $ | 5.7 | | | $ | 4.7 | | | $ | (21.9 | ) | | $ | 8.6 | |
Less: Comprehensive loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | (1.2 | ) | | | — | | | | (1.2 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to Ryerson Inc. | | $ | 9.8 | | | $ | 10.3 | | | $ | 5.7 | | | $ | 5.9 | | | $ | (21.9 | ) | | $ | 9.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
RYERSON INC. |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) |
THREE MONTHS ENDED SEPTEMBER 30, 2012 |
(In millions) |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
Net sales | | $ | — | | | $ | 811.5 | | | $ | 639.9 | | | $ | 131.9 | | | $ | (621.1 | ) | | $ | 962.2 | |
Cost of materials sold | | | — | | | | 661.7 | | | | 628 | | | | 113.1 | | | | (621.1 | ) | | | 781.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | 149.8 | | | | 11.9 | | | | 18.8 | | | | — | | | | 180.5 | |
Warehousing, delivery, selling, general and administrative | | | 1 | | | | 98.2 | | | | 6.6 | | | | 21.3 | | | | — | | | | 127.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | (1.0 | ) | | | 51.6 | | | | 5.3 | | | | (2.5 | ) | | | — | | | | 53.4 | |
Other income and (expense), net | | | — | | | | 0.1 | | | | — | | | | (1.6 | ) | | | — | | | | (1.5 | ) |
Interest and other expense on debt | | | (19.0 | ) | | | (0.1 | ) | | | — | | | | (0.7 | ) | | | — | | | | (19.8 | ) |
Intercompany transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense on intercompany loans | | | (13.9 | ) | | | (10.3 | ) | | | — | | | | — | | | | 24.2 | | | | — | |
Interest income on intercompany loans | | | — | | | | — | | | | 24.2 | | | | — | | | | (24.2 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | (33.9 | ) | | | 41.3 | | | | 29.5 | | | | (4.8 | ) | | | — | | | | 32.1 | |
Provision for income taxes | | | — | | | | 0.4 | | | | — | | | | 0.1 | | | | — | | | | 0.5 | |
Equity in (earnings) loss of subsidiaries | | | (67.4 | ) | | | (8.7 | ) | | | 1.6 | | | | — | | | | 74.5 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | 33.5 | | | | 49.6 | | | | 27.9 | | | | (4.9 | ) | | | (74.5 | ) | | | 31.6 | |
Less: Net loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | (1.9 | ) | | | — | | | | (1.9 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) attributable to Ryerson Inc. | | $ | 33.5 | | | $ | 49.6 | | | $ | 27.9 | | | $ | (3.0 | ) | | $ | (74.5 | ) | | $ | 33.5 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income | | $ | 44.6 | | | $ | 49.8 | | | $ | 31.2 | | | $ | 2.3 | | | $ | (85.4 | ) | | $ | 42.5 | |
Less: Comprehensive loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | (2.1 | ) | | | — | | | | (2.1 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to Ryerson Inc. | | $ | 44.6 | | | $ | 49.8 | | | $ | 31.2 | | | $ | 4.4 | | | $ | (85.4 | ) | | $ | 44.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
RYERSON INC. |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) |
NINE MONTHS ENDED SEPTEMBER 30, 2013 |
(In millions) |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
Net sales | | $ | — | | | $ | 2,241.90 | | | $ | 1,800.00 | | | $ | 360.7 | | | $ | (1,744.8 | ) | | $ | 2,657.80 | |
Cost of materials sold | | | — | | | | 1,857.40 | | | | 1,766.20 | | | | 309.6 | | | | (1,744.8 | ) | | | 2,188.40 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | 384.5 | | | | 33.8 | | | | 51.1 | | | | — | | | | 469.4 | |
Warehousing, delivery, selling, general and administrative | | | 3.8 | | | | 278.9 | | | | 17.5 | | | | 62.5 | | | | — | | | | 362.7 | |
Restructuring and other charges | | | — | | | | — | | | | — | | | | 2.1 | | | | | | | | 2.1 | |
Impairment charges on fixed assets and goodwill | | | — | | | | 2 | | | | — | | | | 6.8 | | | | — | | | | 8.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | (3.8 | ) | | | 103.6 | | | | 16.3 | | | | (20.3 | ) | | | — | | | | 95.8 | |
Other income and (expense), net | | | — | | | | 0.2 | | | | — | | | | 1.9 | | | | — | | | | 2.1 | |
Interest and other expense on debt | | | (11.9 | ) | | | (69.2 | ) | | | — | | | | (2.2 | ) | | | — | | | | (83.3 | ) |
Intercompany transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense on intercompany loans | | | (19.4 | ) | | | — | | | | — | | | | — | | | | 19.4 | | | | — | |
Interest income on intercompany loans | | | — | | | | 13.6 | | | | 5.8 | | | | — | | | | (19.4 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | (35.1 | ) | | | 48.2 | | | | 22.1 | | | | (20.6 | ) | | | — | | | | 14.6 | |
Provision (benefit) for income taxes | | | (13.0 | ) | | | 18.3 | | | | 8.3 | | | | (7.4 | ) | | | — | | | | 6.2 | |
Equity in earnings of subsidiaries | | | (35.4 | ) | | | (14.3 | ) | | | (0.2 | ) | | | — | | | | 49.9 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | 13.3 | | | | 44.2 | | | | 14 | | | | (13.2 | ) | | | (49.9 | ) | | | 8.4 | |
Less: Net loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | (4.9 | ) | | | — | | | | (4.9 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) attributable to Ryerson Inc. | | $ | 13.3 | | | $ | 44.2 | | | $ | 14 | | | $ | (8.3 | ) | | $ | (49.9 | ) | | $ | 13.3 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) | | $ | 11.8 | | | $ | 46.7 | | | $ | 15.8 | | | $ | (19.1 | ) | | $ | (48.3 | ) | | $ | 6.9 | |
Less: Comprehensive loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | (4.9 | ) | | | — | | | | (4.9 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to Ryerson Inc. | | $ | 11.8 | | | $ | 46.7 | | | $ | 15.8 | | | $ | (14.2 | ) | | $ | (48.3 | ) | | $ | 11.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
RYERSON INC. |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) |
NINE MONTHS ENDED SEPTEMBER 30, 2012 |
(In millions) |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
Net sales | | $ | — | | | $ | 2,684.60 | | | $ | 2,249.90 | | | $ | 420.5 | | | $ | (2,180.6 | ) | | $ | 3,174.40 | |
Cost of materials sold | | | — | | | | 2,235.30 | | | | 2,206.20 | | | | 358.2 | | | | (2,180.6 | ) | | | 2,619.10 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | 449.3 | | | | 43.7 | | | | 62.3 | | | | — | | | | 555.3 | |
Warehousing, delivery, selling, general and administrative | | | 3.5 | | | | 305.6 | | | | 19.3 | | | | 61.6 | | | | — | | | | 390 | |
Impairment charge on fixed assets | | | — | | | | 0.9 | | | | — | | | | — | | | | — | | | | 0.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | (3.5 | ) | | | 142.8 | | | | 24.4 | | | | 0.7 | | | | — | | | | 164.4 | |
Other income and (expense), net | | | 0.3 | | | | 0.2 | | | | — | | | | (1.5 | ) | | | — | | | | (1.0 | ) |
Interest and other expense on debt | | | (56.4 | ) | | | (0.1 | ) | | | — | | | | (2.4 | ) | | | — | | | | (58.9 | ) |
Intercompany transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense on intercompany loans | | | (38.5 | ) | | | (30.1 | ) | | | — | | | | — | | | | 68.6 | | | | — | |
Interest income on intercompany loans | | | — | | | | — | | | | 68.6 | | | | — | | | | (68.6 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | (98.1 | ) | | | 112.8 | | | | 93 | | | | (3.2 | ) | | | — | | | | 104.5 | |
Provision for income taxes | | | — | | | | 4 | | | | 2 | | | | 0.4 | | | | — | | | | 6.4 | |
Equity in (earnings) loss of subsidiaries | | | (200.4 | ) | | | (38.0 | ) | | | 1 | | | | — | | | | 237.4 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | 102.3 | | | | 146.8 | | | | 90 | | | | (3.6 | ) | | | (237.4 | ) | | | 98.1 | |
Less: Net loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | (4.2 | ) | | | — | | | | (4.2 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Ryerson Inc. | | $ | 102.3 | | | $ | 146.8 | | | $ | 90 | | | $ | 0.6 | | | $ | (237.4 | ) | | $ | 102.3 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income | | $ | 115.2 | | | $ | 147.5 | | | $ | 94.6 | | | $ | 2.9 | | | $ | (249.8 | ) | | $ | 110.4 | |
Less: Comprehensive loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | (4.8 | ) | | | — | | | | (4.8 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to Ryerson Inc. | | $ | 115.2 | | | $ | 147.5 | | | $ | 94.6 | | | $ | 7.7 | | | $ | (249.8 | ) | | $ | 115.2 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
RYERSON INC. |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED) |
NINE MONTHS ENDED SEPTEMBER 30, 2013 |
(In millions) |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
OPERATING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | $ | 13.3 | | | $ | 44.2 | | | $ | 14 | | | $ | (13.2 | ) | | $ | (49.9 | ) | | $ | 8.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Non-cash expenses | | | (0.1 | ) | | | 37.8 | | | | 2.5 | | | | 13.1 | | | | — | | | | 53.3 | |
Equity in earnings of subsidiaries | | | (35.4 | ) | | | (14.3 | ) | | | (0.2 | ) | | | — | | | | 49.9 | | | | — | |
Changes in working capital | | | 616.5 | | | | 1,038.00 | | | | (1,640.1 | ) | | | 11.9 | | | | — | | | | 26.3 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net adjustments | | | 581 | | | | 1,061.50 | | | | (1,637.8 | ) | | | 25 | | | | 49.9 | | | | 79.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | | 594.3 | | | | 1,105.70 | | | | (1,623.8 | ) | | | 11.8 | | | | — | | | | 88 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
INVESTING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) investing activities | | | 493.7 | | | | (614.5 | ) | | | 1,444.20 | | | | (2.6 | ) | | | (1,333.7 | ) | | | (12.9 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
FINANCING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) financing activities | | | (1,080.5 | ) | | | (495.9 | ) | | | 181 | | | | (0.8 | ) | | | 1,333.70 | | | | (62.5 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net increase (decrease) in cash and cash equivalents | | | 7.5 | | | | (4.7 | ) | | | 1.4 | | | | 8.4 | | | | — | | | | 12.6 | |
Effect of exchange rates | | | — | | | | — | | | | (0.1 | ) | | | (2.6 | ) | | | — | | | | (2.7 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net change in cash and cash equivalents | | | 7.5 | | | | (4.7 | ) | | | 1.3 | | | | 5.8 | | | | — | | | | 9.9 | |
Beginning cash and cash equivalents | | | 0.2 | | | | 15.3 | | | | 1.9 | | | | 53.4 | | | | — | | | | 70.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Ending cash and cash equivalents | | $ | 7.7 | | | $ | 10.6 | | | $ | 3.2 | | | $ | 59.2 | | | $ | — | | | $ | 80.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
RYERSON INC. |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED) |
NINE MONTHS ENDED SEPTEMBER 30, 2012 |
(In millions) |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
OPERATING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | $ | 102.3 | | | $ | 146.8 | | | $ | 90 | | | $ | (3.6 | ) | | $ | (237.4 | ) | | $ | 98.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Non-cash expenses | | | 18.3 | | | | 12.3 | | | | 2.2 | | | | 5.5 | | | | — | | | | 38.3 | |
Equity in (earnings) loss of subsidiaries | | | (200.4 | ) | | | (38.0 | ) | | | 1 | | | | — | | | | 237.4 | | | | — | |
Changes in working capital | | | 9.8 | | | | (83.7 | ) | | | 20.3 | | | | 3.3 | | | | — | | | | (50.3 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net adjustments | | | (172.3 | ) | | | (109.4 | ) | | | 23.5 | | | | 8.8 | | | | 237.4 | | | | (12.0 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | | (70.0 | ) | | | 37.4 | | | | 113.5 | | | | 5.2 | | | | — | | | | 86.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
INVESTING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) investing activities | | | (2.2 | ) | | | (26.1 | ) | | | (143.1 | ) | | | 1.9 | | | | 140 | | | | (29.5 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
FINANCING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) financing activities | | | 69.5 | | | | (11.0 | ) | | | 29.2 | | | | (13.2 | ) | | | (140.0 | ) | | | (65.5 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net increase (decrease) in cash and cash equivalents | | | (2.7 | ) | | | 0.3 | | | | (0.4 | ) | | | (6.1 | ) | | | — | | | | (8.9 | ) |
Effect of exchange rates | | | — | | | | (0.2 | ) | | | — | | | | 1.8 | | | | — | | | | 1.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net change in cash and cash equivalents | | | (2.7 | ) | | | 0.1 | | | | (0.4 | ) | | | (4.3 | ) | | | — | | | | (7.3 | ) |
Beginning cash and cash equivalents | | | 3 | | | | 14.5 | | | | 1.5 | | | | 42.3 | | | | — | | | | 61.3 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Ending cash and cash equivalents | | $ | 0.3 | | | $ | 14.6 | | | $ | 1.1 | | | $ | 38 | | | $ | — | | | $ | 54 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
RYERSON INC. |
CONDENSED CONSOLIDATING BALANCE SHEET (UNAUDITED) |
30-Sep-13 |
(In millions) |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
ASSETS | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets | | $ | 18.4 | | | $ | 1,159.40 | | | $ | 121.2 | | | $ | 236.5 | | | $ | (277.8 | ) | | $ | 1,257.70 | |
Property, plant and equipment net of accumulated depreciation | | | — | | | | 393.8 | | | | 3.2 | | | | 64.5 | | | | — | | | | 461.5 | |
Other noncurrent assets | | | 978.9 | | | | 934.8 | | | | 371.8 | | | | 7.2 | | | | (2,079.2 | ) | | | 213.5 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total Assets | | $ | 997.3 | | | $ | 2,488.00 | | | $ | 496.2 | | | $ | 308.2 | | | $ | (2,357.0 | ) | | $ | 1,932.70 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | | | | | |
Current liabilities | | $ | 245.4 | | | $ | 290 | | | $ | 160.7 | | | $ | 98.9 | | | $ | (277.9 | ) | | $ | 517.1 | |
Noncurrent liabilities | | | 1,025.00 | | | | 1,331.90 | | | | 0.8 | | | | 30.5 | | | | (699.0 | ) | | | 1,689.20 | |
Redeemable noncontrolling interest | | | — | | | | — | | | | — | | | | 1.3 | | | | — | | | | 1.3 | |
Ryerson Inc. stockholders’ equity | | | (273.1 | ) | | | 866.1 | | | | 334.7 | | | | 179.3 | | | | (1,380.1 | ) | | | (273.1 | ) |
Noncontrolling interest | | | — | | | | — | | | | — | | | | (1.8 | ) | | | — | | | | (1.8 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total Liabilities and Equity | | $ | 997.3 | | | $ | 2,488.00 | | | $ | 496.2 | | | $ | 308.2 | | | $ | (2,357.0 | ) | | $ | 1,932.70 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
RYERSON INC. |
CONDENSED CONSOLIDATING BALANCE SHEET |
31-Dec-12 |
(In millions) |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Joseph T. | | | Guarantor | | | Non-guarantor | | | Eliminations | | | Consolidated | |
Ryerson |
ASSETS | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets | | $ | 381.7 | | | $ | 2,215.90 | | | $ | 63 | | | $ | 214.5 | | | $ | (1,620.8 | ) | | $ | 1,254.30 | |
Property, plant and equipment net of accumulated depreciation | | | — | | | | 410.8 | | | | 3.1 | | | | 69.5 | | | | — | | | | 483.4 | |
Other noncurrent assets | | | 944.2 | | | | 319.2 | | | | 1,818.60 | | | | 14.4 | | | | (2,869.9 | ) | | | 226.5 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total Assets | | $ | 1,325.90 | | | $ | 2,945.90 | | | $ | 1,884.70 | | | $ | 298.4 | | | $ | (4,490.7 | ) | | $ | 1,964.20 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | | | | | |
Current liabilities | | $ | 16.5 | | | $ | 254.3 | | | $ | 1,738.30 | | | $ | 67.7 | | | $ | (1,620.8 | ) | | $ | 456 | |
Noncurrent liabilities | | | 1,594.30 | | | | 1,872.20 | | | | 0.8 | | | | 32.8 | | | | (1,711.4 | ) | | | 1,788.70 | |
Redeemable noncontrolling interest | | | — | | | | — | | | | — | | | | 1.7 | | | | — | | | | 1.7 | |
Ryerson Inc. stockholders’ equity | | | (284.9 | ) | | | 819.4 | | | | 145.6 | | | | 193.5 | | | | (1,158.5 | ) | | | (284.9 | ) |
Noncontrolling interest | | | — | | | | — | | | | — | | | | 2.7 | | | | — | | | | 2.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total Liabilities and Equity | | $ | 1,325.90 | | | $ | 2,945.90 | | | $ | 1,884.70 | | | $ | 298.4 | | | $ | (4,490.7 | ) | | $ | 1,964.20 | |
| | | | | | | | | | | | | | | | | | | | | | | | |