Reliance Steel & Aluminum (RS) 10-K 26 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Jan. 31, 2016	Jun. 30, 2015
Document and Entity Information
Entity Registrant Name	RELIANCE STEEL & ALUMINUM CO
Entity Central Index Key	861,884
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 4,320,000,000
Entity Common Stock, Shares Outstanding		71,865,155
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 104.3	$ 106.2
Accounts receivable, less allowance for doubtful accounts of $16.3 at December 31, 2015 and $18.3 at December 31, 2014	916.6	1,144.6
Inventories	1,436	1,752.1
Prepaid expenses and other current assets	60.8	71.8
Income taxes receivable	36.5
Deferred income taxes		46.4
Total current assets	2,554.2	3,121.1
Property, plant and equipment:
Land	196.2	197.5
Buildings	1,006.3	983.2
Machinery and equipment	1,569.8	1,479.8
Accumulated depreciation	(1,136.8)	(1,004.1)
Total property, plant and equipment	1,635.5	1,656.4
Goodwill	1,724.8	1,736.4
Intangible assets, net	1,125.4	1,227.4
Cash surrender value of life insurance policies, net	45.8	46.4
Other assets	35.9	34.7
Total assets	7,121.6	7,822.4
Current liabilities:
Accounts payable	247	286.5
Accrued expenses	83	98.2
Accrued compensation and retirement costs	118.7	128.4
Accrued insurance costs	40.2	46.6
Current maturities of long-term debt and short-term borrowings	500.8	93.9
Income taxes payable		9.2
Total current liabilities	989.7	662.8
Long-term debt	1,427.9	2,208.1
Long-term retirement costs	103.8	102.2
Other long-term liabilities	30.4	28.5
Deferred income taxes	$ 627.1	$ 692.9
Commitments and contingencies
Equity:
Preferred stock, $0.001 par value: Authorized shares — 5,000,000 None issued or outstanding
Common stock and additional paid-in capital, $0.001 par value: Authorized shares — 200,000,000 Issued and outstanding shares – 71,739,072 at December 31, 2015 and 77,337,251 at December 31, 2014	$ 533.8	$ 819.4
Retained earnings	3,480	3,328.5
Accumulated other comprehensive loss	(99.7)	(48.9)
Total Reliance stockholders' equity	3,914.1	4,099
Noncontrolling interests	28.6	28.9
Total equity	3,942.7	4,127.9
Total liabilities and equity	$ 7,121.6	$ 7,822.4

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 16.3	$ 18.3
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, Authorized shares	5,000,000	5,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, Authorized shares	200,000,000	200,000,000
Common stock, Issued shares	71,739,072	77,337,251
Common stock, outstanding shares	71,739,072	77,337,251

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF INCOME
Net sales	$ 9,350.5	$ 10,451.6	$ 9,223.8
Costs and expenses:
Cost of sales (exclusive of depreciation and amortization shown below)	6,803.6	7,830.6	6,826.2
Warehouse, delivery, selling, general and administrative	1,728.5	1,789.8	1,638.4
Depreciation and amortization	218.5	213.8	192.4
Impairment of long-lived assets	53.3		14.9
Total costs and expenses	8,803.9	9,834.2	8,671.9
Operating income	546.6	617.4	551.9
Other income (expense):
Interest	(84.3)	(81.9)	(77.5)
Other (expense) income, net	(3.6)	10.8	3.9
Income before income taxes	458.7	546.3	478.3
Income tax provision	142.5	170	153.6
Net income	316.2	376.3	324.7
Less: Net income attributable to noncontrolling interests	4.7	4.8	3.1
Net income attributable to Reliance	$ 311.5	$ 371.5	$ 321.6
Earnings per share attributable to Reliance stockholders:
Diluted earnings per common share (in dollars per share)	$ 4.16	$ 4.73	$ 4.14
Basic earnings per common share (in dollars per share)	4.20	4.78	4.19
Cash dividends per share (in dollars per share)	$ 1.60	$ 1.40	$ 1.26

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 316.2	$ 376.3	$ 324.7
Other comprehensive income (loss):
Foreign currency translation loss	(51)	(26.4)	(17.8)
Unrealized (loss) gain on investments, net of tax	(0.4)	0.2	0.4
Pension and postretirement benefit adjustments, net of tax	0.6	(16)	12.2
Total other comprehensive loss	(50.8)	(42.2)	(5.2)
Comprehensive income	265.4	334.1	319.5
Less: comprehensive income attributable to noncontrolling interests	4.7	4.8	3.1
Comprehensive income attributable to Reliance	$ 260.7	$ 329.3	$ 316.4

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Common Stock Including Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-controlling Interests	Total
Balance at Dec. 31, 2012	$ 722.2	$ 2,837.7	$ (1.5)	$ 9	$ 3,567.4
Balance (in shares) at Dec. 31, 2012	76,042,546
Increase (Decrease) in Stockholders' Equity
Net income		321.6		3.1	324.7
Other comprehensive income (loss)			(5.2)		(5.2)
Payments to noncontrolling interest holders				(2.3)	(2.3)
Share-based compensation	$ 26				26
Share-based compensation (in shares)	12,418
Stock options exercised	$ 70.1				70.1
Stock options exercised (in shares)	1,437,053
Stock-based compensation tax benefit (deficit)		0.6			0.6
Cash dividends - $1.40 and $1.26 per share for the year ended on December 31, 2014 and December 31, 2013, respectively		(96.9)			(96.9)
Balance at Dec. 31, 2013	$ 818.3	3,063	(6.7)	9.8	3,884.4
Balance (in shares) at Dec. 31, 2013	77,492,017
Increase (Decrease) in Stockholders' Equity
Net income		371.5		4.8	376.3
Other comprehensive income (loss)			(42.2)		(42.2)
Consolidation of joint venture				22.6	22.6
Noncontrolling interests purchased				(4.2)	(4.2)
Payments to noncontrolling interest holders				(4.1)	(4.1)
Share-based compensation	$ 22.3				22.3
Share-based compensation (in shares)	11,830
Stock options exercised	$ 28.8				28.8
Stock options exercised (in shares)	593,204
Repurchase of common shares	$ (50)				$ (50)
Repurchase of common shares (in shares)	(759,800)				(759,800)
Stock-based compensation tax benefit (deficit)		2.7			$ 2.7
Cash dividends - $1.40 and $1.26 per share for the year ended on December 31, 2014 and December 31, 2013, respectively		(108.7)			(108.7)
Balance at Dec. 31, 2014	$ 819.4	3,328.5	(48.9)	28.9	$ 4,127.9
Balance (in shares) at Dec. 31, 2014	77,337,251				77,337,251
Increase (Decrease) in Stockholders' Equity
Net income		311.5		4.7	$ 316.2
Other comprehensive income (loss)			(50.8)		(50.8)
Noncontrolling interests purchased	$ (0.6)			(2)	(2.6)
Payments to noncontrolling interest holders				(3)	(3)
Share-based compensation	$ 16.8				16.8
Share-based compensation (in shares)	271,438
Stock options exercised	$ 15.1				15.1
Stock options exercised (in shares)	325,024
Repurchase of common shares	$ (355.5)				$ (355.5)
Repurchase of common shares (in shares)	(6,194,641)				(6,194,641)
Stock-based compensation tax benefit (deficit)		(1.3)			$ (1.3)
Delaware reincorporation	$ 38.6	(38.6)
Cash dividends and dividend equivalents - $1.60 per share for the year ended on December 31, 2015		(120.1)			(120.1)
Balance at Dec. 31, 2015	$ 533.8	$ 3,480	$ (99.7)	$ 28.6	$ 3,942.7
Balance (in shares) at Dec. 31, 2015	71,739,072				71,739,072

CONSOLIDATED STATEMENTS OF EQU7

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	1 Months Ended				12 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Jul. 31, 2013	Feb. 28, 2013	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF EQUITY
Cash dividends per share (in dollars per share)	$ 0.40	$ 0.35	$ 0.33	$ 0.30	$ 1.40	$ 1.26

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities:
Net income	$ 316.2	$ 376.3	$ 324.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	218.5	213.8	192.4
Impairment of long-lived assets	53.3		14.9
Deferred income tax (benefit) provision	(17.1)	(18.2)	3.1
(Gain) loss on sales of property, plant and equipment	(2.2)	(12.9)	0.7
Stock-based compensation expense	21.3	22.8	26
Other	9.8	(4.9)	1.2
Changes in operating assets and liabilities (excluding effect of businesses acquired):
Accounts receivable	222.5	(97.2)	25.4
Inventories	306.8	(131)	111.9
Prepaid expenses and other assets	(25.2)	31.5	(17.3)
Accounts payable and other liabilities	(78.9)	(24.2)	(49.7)
Net cash provided by operating activities	1,025	356	633.3
Investing activities:
Purchases of property, plant and equipment	(172.2)	(190.4)	(168)
Acquisitions, net of cash acquired	(0.4)	(208.2)	(821.1)
Proceeds from sale of business, net		26.2	11.9
Other	2.7	7.4	(1.8)
Net cash used in investing activities	(169.9)	(365)	(979)
Financing activities:
Net short-term debt borrowings (repayments)	12.7	1.7	(473)
Proceeds from long-term debt borrowings	573	719	2,297.9
Principal payments on long-term debt	(962.3)	(552.2)	(1,454.5)
Debt issuance costs			(10.3)
Dividends and dividend equivalents paid	(120.1)	(108.7)	(96.9)
Exercise of stock options	15.1	28.8	70.1
Share repurchases	(355.5)	(50)
Other	(11.4)	(5.6)	(1.2)
Net cash (used in) provided by financing activities	(848.5)	33	332.1
Effect of exchange rate changes on cash	(8.5)	(1.4)	(0.4)
(Decrease) increase in cash and cash equivalents	(1.9)	22.6	(14)
Cash and cash equivalents at beginning of year	106.2	83.6	97.6
Cash and cash equivalents at end of period	104.3	106.2	83.6
Supplemental cash flow information:
Interest paid during the period	82	82.4	74.2
Income taxes paid during the period, net	$ 204.9	134.2	161.4
Non-cash investing and financing activities:
Debt assumed in connection with acquisitions		$ 39.2	$ 529.9

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 1. Summary of Significant Accounting Policie s Principles of Consolidation The accompanying consolidated financial statements include the accounts of Reliance Steel & Aluminum Co. and its subsidiaries (collectively referred to as “Reliance”, “the Company”, “we”, “our” or “us”). Our consolidated financial statements include the assets, liabilities and operating results of majority ‑owned subsidiaries. The ownership of the other interest holders of consolidated subsidiaries is reflected as noncontrolling interests. Our investments in unconsolidated subsidiaries are recorded under the equity method of accounting. All significant intercompany accounts and transactions have been eliminated. Business We operate a metals service center network of more than 300 locations in 39 states in the U.S. and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the U.A.E. and the United Kingdom) that provides value ‑added metals processing services and distributes a full line of more than 100,000 metal products. Since our inception in 1939, we have not diversified outside our core business as a metals service center operator. Accounting Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, such as accounts receivable collectability, valuation of inventories, goodwill, long ‑lived assets, income tax and other contingencies, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Accounts Receivable and Concentrations of Credit Risk Concentrations of credit risk with respect to trade receivables are limited due to the geographically diverse customer base and various industries into which our products are sold. Trade receivables are typically non ‑interest bearing and are initially recorded at cost. Sales to our recurring customers are generally made on open account terms while sales to occasional customers may be made on a C.O.D. basis when collectability is not assured. Past due status of customer accounts is determined based on how recently payments have been received in relation to payment terms granted. Credit is generally extended based upon an evaluation of each customer’s financial condition, with terms consistent in the industry and no collateral required. Losses from credit sales are provided for in the financial statements and consistently have been within the allowance provided. The allowance is an estimate of the uncollectability of accounts receivable based on an evaluation of specific customer risks along with additional reserves based on historical and probable bad debt experience. Amounts are written off against the allowance in the period we determine that the receivable is uncollectible. As a result of the above factors, we do not consider ourselves to have any significant concentrations of credit risk. Inventories The majority of our inventory is valued using the last ‑in, first ‑out (“LIFO”) method, which is not in excess of market. Under this method, older costs are included in inventory, which may be higher or lower than current costs. This method of valuation is subject to year ‑to ‑year fluctuations in cost of material sold, which is influenced by the inflation or deflation existing within the metals industry as well as fluctuations in our product mix and on ‑hand inventory levels. Fair Values of Financial Instruments Fair values of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other current liabilities, and the current portion of long ‑term debt approximate carrying values due to the short period of time to maturity. Fair values of long ‑term debt, which have been determined based on borrowing rates currently available to us or to other companies with comparable credit ratings, for loans with similar terms or maturity, approximate the carrying amounts in the consolidated financial statements, with the exception of our $1.1 billion publicly traded senior unsecured notes. The fair values of these senior unsecured notes based on quoted market prices as of December 31, 2015 and 2014 , were approximately $1.08 billion and $1.16 billion, respectively, compared to their carrying value of approximately $1.09 billion as of the end of each period. These estimated fair values are based on Level 2 inputs. Cash Equivalents We consider all highly liquid instruments with an original maturity of three months or less when purchased to be cash equivalents. We maintain cash and cash equivalents with high ‑credit, quality financial institutions. The Company, by policy, limits the amount of credit exposure to any one financial institution. Goodwill Goodwill is the excess of cost over the fair value of net assets of businesses acquired. Goodwill is not amortized but is tested for impairment at least annually. We have one operating segment and one reporting unit for goodwill impairment purposes. We test for impairment of goodwill by assessing qualitative factors to determine if the fair value of the reporting unit is more likely than not below the carrying value of the reporting unit. We also calculate the fair value of the reporting unit using our market capitalization or the discounted cash flow method, as necessary, and compare the fair value to the carrying value of the reporting unit to determine if impairment exists. We perform the required annual goodwill impairment evaluation on November 1 of each year. No impairment of goodwill was determined to exist in any of the years presented. Long ‑Lived Assets Property, plant and equipment is recorded at cost (or at fair value for assets acquired in connection with business combinations) and the provision for depreciation of these assets is generally computed on the straight ‑line method at rates designed to distribute the cost of assets over the useful lives, estimated as follows: buildings, including leasehold improvements, over five to 50 years and machinery and equipment over three to 20 years. Other intangible assets with finite useful lives are amortized over their useful lives. Other intangible assets deemed to have indefinite lives are not amortized but are subject to annual impairment tests. We review the recoverability of our long ‑lived assets whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We recognized impairment losses of $14.4 million on our other intangible assets with finite lives in 2015 and $21.2 million and $14.9 million related to our other intangible assets with indefinite lives in 2015 and 2013, respectively. We recognized impairment losses of $17.7 million for property, plant, and equipment in 2015. See “Note 18 – Impairment of Long-Lived Assets” for further discussion of our impairment losses. No long-lived asset impairment losses were recognized during the year ended December 31, 2014. Revenue Recognition We recognize revenue from product or processing sales upon concluding that all of the fundamental criteria for product revenue recognition have been met, such as a fixed or determinable sales price; reasonable assurance of collectability; and passage of title and risks of ownership to the buyer. Such criteria are usually met upon delivery to the customer for orders with FOB destination terms or upon shipment for orders with FOB shipping point terms, or after toll processing services are performed. Considering the close proximity of our customers to our metals service center locations, shipment and delivery of our orders generally occur on the same day. Billings for orders where the revenue recognition criteria are not met, which primarily include certain bill and hold transactions (in which our customers request to be billed for the material but request delivery at a later date), are recorded as deferred revenue. Shipping and handling charges to our customers are included in Net sales. Costs incurred in connection with shipping and handling our products that are performed by third-party carriers and costs incurred by our personnel are typically included in operating expenses. In 2015 , 2014 and 2013 , shipping and handling costs included in Warehouse, delivery, selling, general and administrative expenses were approximately $319.1 million, $312.6 million, and $284.8 million, respectively. Stock ‑Based Compensation All of our stock ‑based compensation plans are considered equity plans. We calculate the fair value of stock option awards on the date of the grant based on the closing market price of our common stock, using a Black ‑Scholes option ‑pricing model. The fair value of restricted stock grants is determined based on the fair value of our common stock on the day of the grant. The fair value of stock option and restricted stock awards is expensed on a straight ‑line basis over their respective vesting periods, net of estimated forfeitures. The stock-based compensation expense recorded was $21. 3 million, $22.8 million, and $26.0 million in 2015 , 2014 and 2013 , respectively, and is included in the Warehouse, delivery, selling, general and administrative expense caption of our consolidated statements of income. Environmental Remediation Costs We accrue for losses associated with environmental remediation obligations when such losses are probable and reasonably estimable. Accruals for estimated losses from environmental remediation obligations generally are recognized no later than completion of the remediation feasibility study. Such accruals are adjusted as further information develops or circumstances change. Recoveries of environmental remediation costs from other parties are recorded as assets when their receipt is deemed probable. We are not aware of any environmental remediation obligations that would materially affect our operations, financial position or cash flows. See “Note 14 – Commitments and Contingencies” for further discussion on our environmental remediation matters. Income Taxes We file a consolidated U.S. federal income tax return with our wholly owned domestic subsidiaries. The deferred tax assets and/or liabilities are determined by multiplying the differences between the financial reporting and tax reporting bases for assets and liabilities by the enacted tax rates expected to be in effect when such differences are recovered or settled. The effect on deferred taxes from a change in tax rates is recognized in income in the period that includes the enactment date of the change. The provision for income taxes reflects the taxes to be paid for the period and the change during the period in the deferred tax assets and liabilities. We evaluate on a quarterly basis whether, based on all available evidence, it is probable that the deferred income tax assets are realizable. Valuation allowances are established when it is estimated that it is more likely than not that the tax benefit of the deferred tax asset will not be realized. We make a comprehensive review of our uncertain tax positions on a quarterly basis. Tax benefits are recognized when it is more ‑likely ‑than ‑not that a tax position will be sustained upon examination by the authorities. The benefit from a position that has surpassed the more ‑likely ‑than ‑not threshold is the largest amount of benefit that is more than 50% likely to be realized upon settlement. We recognize interest and penalties accrued related to unrecognized tax benefits as a component of income tax expense. Foreign Currencies The currency effects of translating the financial statements of our foreign subsidiaries, which operate in local currency environments, are included in other comprehensive income. Gains and losses resulting from foreign currency transactions are included in the results of operations in the Other (expense) income, net caption and amounted to an insignificant amount in 2015 , a net gain of $3.1 million in 2014, and a net loss of $2.6 million in 201 3. Impact of Recently Issued Accounting Standards — Adopted Balance Sheet Classification of Deferred Taxes — In November 2015, the Financial Accounting Standards Board (“FASB”) issued accounting changes requiring all deferred tax assets and liabilities, and any related valuation allowance, to be presented as a single noncurrent amount on the balance sheet. The accounting guidance reduces the cost and complexity of recording deferred taxes as current and noncurrent. The guidance may be either adopted prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We elected to prospectively adopt the accounting changes on October 1, 2015. The deferred tax amounts presented in our consolidated financial statements as of December 31, 2014 were not retrospectively adjusted. Simplifying the Measurement of Inventory —In July 2015, the FASB issued accounting changes requiring that inventory that is measured using first-in, first-out (FIFO) or average cost be measured at the lower of cost and net realizable value. The accounting guidance reduces the cost and complexity of measuring inventory at the lower of cost or market for which market could be replacement cost, net realizable value, or net realizable value less an appropriate normal profit margin. Our adoption of these accounting changes on October 1, 2015 did not have a material impact on our consolidated financial statements. This guidance did not apply to LIFO inventories, which comprise approximately 80% of our inventories. Simplifying the Presentation of Debt Issuance Costs —In April 2015, the FASB issued accounting changes, which simplify the presentation of debt issuance costs. The guidance requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with the presentation of debt discounts. The guidance is to be applied retrospectively to all prior periods presented in the financial statements . We adopted these accounting changes on April 1, 2015 , which resulted in a $14.2 million reduction of our Intangible assets, net and Long-term debt at December 31, 2014. Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity —In April 2014, the FASB issued accounting guidance for reporting discontinued operations and disposals of components of an entity. The guidance limits discontinued operations reporting to those disposals which represent a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. The updated guidance also expands the disclosure requirements for discontinued operations and adds new disclosures for individually significant dispositions that do not qualify as discontinued operations. We adopted and applied the new guidance to our sale of Metals USA’s non-core roofing business in May 2014. The adoption of these changes did not have a material impact on our consolidated financial statements. Comprehensive Income Reporting and Disclosures —On January 1, 2013, we adopted changes issued by the FASB, which require additional disclosures for the reclassification of significant amounts from accumulated other comprehensive income (loss) to net income. This guidance requires that the effect of certain significant amounts be presented either on the face of the consolidated statements of comprehensive income or in a single note. For other amounts, we are required to cross ‑reference disclosures that provide additional detail about those amounts. The adoption of these changes did not have a material impact on our consolidated financial statements. Impact of Recently Issued Accounting Standards—Not Yet Adopted Revenue from Contracts with Customers —In May 2014, the FASB issued accounting changes, which replace most of the detailed guidance on revenue recognition that currently exists under U.S. GAAP. Under the new guidance an entity should recognize revenue in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance will be effective for fiscal years beginning after December 15, 2016. Early adoption is not permitted. We are evaluating the new standard, but do not expect this standard to have a material impact on our consolidated financial statements.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2015
Acquisitions
Acquisitions	Note 2. Acquisitions 2014 Acquisitions On December 1, 2014, we acquired Fox Metals and Alloys, Inc. ("Fox"), a Houston, Texas-based steel distributor specializing in alloy, carbon and stainless steel bar and plate products, primarily servicing OEMs and machine shops that manufacture or support the manufacturing of equipment for the oil, gas and petrochemical industries. Fox's in-house processing services include saw cutting, plate burning and testing. Net sales of Fox in 2015 were $21.6 million. On August 1, 2014, we acquired Aluminium Services UK Limited, the parent holding company of All Metal Services (“AMS”). AMS provides comprehensive materials management solutions to aerospace and defense OEMs and their subcontractors on a global basis, supporting customers in more than 40 countries worldwide. AMS offers a broad range of aerospace metals including aluminum, steel, titanium, nickel alloys and aluminum bronze, offering full or cut to size materials. AMS also offers in-house machining and water-jet cutting for more complex requirements. AMS has eight locations in four countries including China, France, Malaysia, and the United Kingdom. Net sales of AMS in 2015 were $257.6 million. On August 1, 2014, we acquired Northern Illinois Steel Supply Co. ("NIS"), a value-added distributor and fabricator of a variety of steel and non-ferrous metal products, primarily structural steel components and parts, located in Channahon, Illinois. Net sales of NIS in 2015 were $19.9 million. We funded these acquisitions with borrowings on our revolving credit facility and cash on hand. The allocation of the total purchase price of our acquisitions completed in 2014 to the fair values of the assets acquired and liabilities assumed was as follows: (in millions) Cash $ Accounts receivable Inventories Property, plant and equipment Goodwill Intangible assets subject to amortization Intangible assets not subject to amortization Other current and long-term assets Total assets acquired Current and long-term debt Deferred taxes Other current and long-term liabilities Total liabilities assumed Net assets acquired $ 2013 Acquisitions On November 1, 2013, through our wholly owned subsidiary American Metals Corporation, we acquired Haskins Steel Co., Inc. (“Haskins Steel”), located in Spokane, Washington. Founded in 1955, Haskins Steel processes and distributes primarily carbon steel and aluminum products of various shapes and sizes to a diverse customer base in the Pacific Northwest. Their in ‑house processing capabilities include shearing, sawing, burning and forming. Net sales of Haskins Steel in 2015 were $26.0 million. On April 30, 2013, we acquired Travel Main Holdings, LLC (“Travel Main”), a real estate holding company with a portfolio of 18 real estate properties, all of which are leased by certain of our subsidiaries. The transaction value of $78.9 million included the assumption of $43.8 million of indebtedness. The cash portion of the purchase price was funded with borrowings on our revolving credit facility. On April 12, 2013, we acquired Metals USA Holdings Corp. (“Metals USA”). Metals USA is one of the largest metals service center businesses in the United States and a leading provider of value ‑added processed aluminum, brass, copper, carbon steel, stainless steel, manufactured metal components and inventory management services. Metals USA sells its products and services to a diverse customer base and broad range of end markets, including the aerospace, auto, defense, heavy equipment, marine transportation, commercial construction, office furniture manufacturing, energy and oilfield service industries, among several others. This acquisition added a total of 41 service centers strategically located throughout the United States to our existing operations and complements our existing customer base, product mix and geographic footprint. Net sales of Metals USA in 2015 were $1.54 billion. On May 16, 2014, we sold Metals USA’s non-core roofing business for net proceeds of approximately $ 26.2 million and recorded a pre-tax loss of approximately $1.1 million, which is included in Other (expense) income, net . Net sales of Metals USA’s non-core roofing business for 2014 and during the period from April 13, 2013 through December 31, 2013 were $9.6 million and $25.4 million, respectively. The purchase price for Metals USA of $766.8 million along with assumed debt of $486.1 million represents a total transaction value of approximately $1.25 billion. We funded the transaction and refinanced all but $12.3 million of Metals USA’s debt with proceeds from our $500.0 million term loan, which we entered into in April 2013, and our April 2013 $500.0 million senior notes offering, with the balance drawn on our existing $1.5 billion revolving credit facility (see Note 8). For 2013, we incurred approximately $11.4 million in transaction related costs, which are included in Warehouse, delivery, selling, general and administrative expenses. The allocation of the total purchase price of Metals USA to the fair values of assets acquired and liabilities assumed was as follows: (in millions) Cash $ Accounts receivable Inventories Property, plant and equipment Goodwill Intangible assets subject to amortization Intangible assets not subject to amortization Other current and long-term assets Total assets acquired Current and long-term debt Deferred taxes Other current and long-term liabilities Total liabilities assumed Net assets acquired $ Summary purchase price allocation information for all acquisitions All of the acquisitions discussed in this note have been accounted for under the acquisition method of accounting and, accordingly, each purchase price has been allocated to the assets acquired and liabilities assumed based on the estimated fair values at the date of each acquisition. The accompanying consolidated statements of income include the revenues and expenses of each acquisition since its respective acquisition date. The consolidated balance sheets reflect the allocations of each acquisition’s purchase price as of December 31, 2015 or 2014, as applicable. The measurement periods for purchase price allocations do not exceed 12 months from the acquisition date. As part of the purchase price allocations of the acquisitions completed in 2014 and 2013, $39.0 million and $206.8 million, respectively, were allocated to the trade names acquired. We determined that substantially all of the trade names acquired in connection with these acquisitions had indefinite lives since their economic lives are expected to approximate the life of each company acquired. Additionally, we recorded other identifiable intangible assets related to customer relationships for the 2014 and 2013 acquisitions of $37.3 million and $135.3 million, respectively, with weighted average lives of 13.6 and 12.5 years, respectively. The goodwill arising from our 2014 and 2013 acquisitions consists largely of expected strategic benefits, including enhanced financial and operational scale, as well as expansion of acquired product and processing know how across our enterprise. Tax deductible goodwill from our 2014 and 2013 acquisitions amounted to $20.3 million and $107.7 million, respectively. Tax deductible goodwill related to our sale of Metals USA’s non-core roofing business was $17.2 million. Total tax deductible goodwill amounted to approximately $558.7 million as of December 31, 2015.

Joint Ventures and Noncontrolli

Joint Ventures and Noncontrolling Interests	12 Months Ended
	Dec. 31, 2015
Joint Ventures and Noncontrolling Interests
Joint Ventures and Noncontrolling Interests	Note 3. Joint Ventures and Noncontrolling Interests The equity method of accounting is used where our investment in voting stock gives us the ability to exercise significant influence over the investee, generally 20% to 50% . The financial results of investees are generally consolidated when the ownership interest is greater than 50% . We have two joint venture arrangements with noncontrolling interests: Oregon Feralloy Partners LLC ( 40% ‑owned) and Eagle Steel Products, Inc. ( 45% ‑owned) . These investments are accounted for using the equity method. The corresponding investments in these entities are reflected in the Investments in unconsolidated entities caption of the balance sheet. Equity in earnings of these entities and related distribution of earnings have not been material to our results of operations or cash flows. Operations that are majority owned by us are as follows: Acero Prime S. de R.L. de C.V. ( 60% -owned), Feralloy Processing Company ( 51% ‑owned ), FP Structural Solutions ( 70% ‑owned) , Indiana Pickling and Processing Company ( 56% -owned), and Valex Corp.’s operations in South Korea, in which Valex Corp. has 95% ownership. The results of these majority ‑owned operations are consolidated in our financial results. The portion of the earnings related to the noncontrolling shareholder interests has been reflected in the Net income attributable to noncontrolling interests caption in the accompanying statements of income. On December 1 5 , 2015, we purchased the noncontrolling interest of Valex Corp., which increased our ownership from 97% to 100% , and on September 11, 2015 Valex Corp. purchased the noncontrolling interest in its operation in the People’s Republic of China, which increased its ownership interest from 92% to 100% . On October 1, 2014, we acquired a controlling interest in our joint venture partnership Acero Prime S. de R.L. de C.V. (“Acero Prime”), a toll processor in Mexico, and subsequently purchased additional interests on November 3, 2014, which, together, increased our ownership from 40% to 60% . Concurrent with this acquisition achieved in stages, we recognized an $11.4 million gain on our previously held equity interest remeasured at fair value. The allocation of the total purchase price to the fair values of the assets acquired and liabilities assumed included $57.6 million of total assets and noncontrolling interest of $22.6 million.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2015
Inventories
Inventories	Note 4. Inventories Our inventories are primarily stated on the last ‑in, first ‑out (“LIFO”) method, which is not in excess of market. We use the LIFO method of inventory valuation because it results in a better matching of costs and revenues. As of December 31, 2015 cost on the first ‑in, first ‑out (“FIFO”) method was lower than the LIFO value of inventories by $26.1 million. As of December 31, 2014 , cost on the FIFO method exceeded the LIFO value of inventories by $143.1 million. Inventories of $304.6 million and $305.9 million as of December 31, 2015 and 2014 , respectively, were stated on the FIFO method, which is not in excess of realizable value. Due to a significant decline in metals pricing that resulted in our LIFO inventory valuation exceeding current replacement cost, we recorded a lower of cost or market charge of $69.1 million related to our inventories measured using the LIFO method in 2015. Cost decreases in 2015 and 2013 for the majority of our products were the primary cause of the $186.1 million and $50.2 million reductions in the LIFO valuation reserve, respectively, which decreased cost of sales. The 2015 amount, however, was net of the impact of inventory quantity reductions, which resulted in a liquidation of LIFO inventory quantities carried at higher costs prevailing in prior years as compared with the cost of 2015 purchases, the effect of which increased cost of sales by approximately $38.7 million in 2015. Cost increases in 2014 for the majority of our products were the primary cause of the $54.5 million increase in the LIFO valuation reserve, which increased cost of sales. There were insignificant liquidations of LIFO inventory quantities in 2014 and 2013.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2015
Goodwill.
Goodwill	Note 5. Goodwill The changes in the carrying amount of goodwill are as follows: (in millions) Balance at January 1, 2013 $ Acquisitions Effect of foreign currency translation Balance at December 31, 2013 Acquisitions Consolidation of a joint venture entity Purchase price allocation adjustments Sale of business Effect of foreign currency translation Balance at December 31, 2014 Acquisitions Purchase price allocation adjustments Effect of foreign currency translation Balance at December 31, 2015 $ We had no accumulated impairment losses related to goodwill at December 31, 2015.

Intangible Assets, net

Intangible Assets, net	12 Months Ended
	Dec. 31, 2015
Intangible Assets, net
Intangible Assets, net	Note 6. Intangible Assets, net Intangible assets, net, consisted of the following: December 31, 2015 December 31, 2014 Weighted Average Gross Gross Amortizable Carrying Accumulated Carrying Accumulated Life in Years Amount Amortization Amount Amortization (in millions) Intangible assets subject to amortization: Covenants not to compete $ $ $ $ Customer lists/relationships Software – internal use Other Intangible assets not subject to amortization: Trade names — — $ $ $ $ Foreign currency translation losses related to intangible assets, net in 2015 were approximately $13.5 million. Impairment losses of $21.2 million related to five of our trade names and $14.4 million related to two of our customer relationships were recognized during the year ended December 31, 2015. See “Note 18 - Impairment of Long-Lived Assets” for further discussion of our impairment losses. No impairment losses were recognized during the year ended December 31, 2014. Amortization expense for intangible assets amounted to $53.7 million, $56.7 million and $54.9 million in 2015 , 2014 and 2013 , respectively. The following is a summary of estimated aggregate amortization expense for each of the next five years: (in millions) 2016 $ 2017 2018 2019 2020

Cash Surrender Value of Life In

Cash Surrender Value of Life Insurance Policies, net	12 Months Ended
	Dec. 31, 2015
Cash Surrender Value of Life Insurance Policies, net
Cash Surrender Value of Life Insurance Policies, net	Note 7. Cash Surrender Value of Life Insurance Policies, net The cash surrender value of all life insurance policies held by us, net of loans and related accrued interest, was $45.8 million and $46.4 million as of December 31, 2015 and 2014 , respectively. Our wholly owned subsidiary, Earle M. Jorgensen Company (“EMJ”), is the owner and beneficiary of life insurance policies on all former nonunion employees of a predecessor company, including certain current employees of EMJ. These policies, by providing payments to EMJ upon the death of covered individuals, were designed to provide cash to EMJ in order to repurchase shares held by employees in EMJ’s former employee stock ownership plan and shares held individually by employees upon the termination of their employment. We are also the owner and beneficiary of key man life insurance policies on certain current and former executives of the Company, its subsidiaries and predecessor companies. Cash surrender value of the life insurance policies increases by a portion of the amount of premiums paid and by investment income earned under the policies and decreases by the amount of cost of insurance charges, investment losses and interest on policy loans, as applicable. Income earned on all of our life insurance policies is recorded in the Other ( expense ) income , net caption in the accompanying st atements of income (see “Note 13 – Other (Expense) Income, net”). Annually, we expect to borrow against the cash surrender value of policies to pay a portion of the premiums and accrued interest on loans against those policies. In 2015 , we borrowed $47.9 million against the cash surrender value of certain policies, which was used to partially pay premiums and accrued interest owed of $60.4 million. In 2014 , we borrowed $44.5 million against the cash surrender value of certain policies, which was used to partially pay premiums and accrued interest owed of $56.0 million. Interest rates on borrowings under some of the EMJ life insurance policies are fixed at 11.76% and the portion of the policy cash surrender value that the borrowings relate to earns interest and dividend income at 11.26% . The unborrowed portion of the policy cash surrender value earns income at rates commensurate with certain risk ‑free U.S. Treasury bond yields but not less than 4.0% . All other life insurance policies earn investment income or incur losses based on the performance of the underlying investments held by the policies. As of December 31, 2015 and 2014 , loans and accrued interest outstanding on EMJ’s life insurance policies were approximately $535.2 million and $493.2 million, respectively. There were no borrowings available as of December 31, 2015 and December 31, 2014 . Interest expense on borrowings against cash surrender values is included in the Other ( expense ) income , net caption in the accompanying statements of income (see “Note 13 – Other (Expense) Income, net”).

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt
Debt	Note 8. Debt Debt consisted of the following: December 31, December 31, 2015 2014 (in millions) Unsecured revolving credit facility due April 4, 2018 $ $ Unsecured term loan due from March 31, 2016 to April 4, 2018 Senior unsecured notes due November 15, 2016 Senior unsecured notes due April 15, 2023 Senior unsecured notes due November 15, 2036 Other notes and revolving credit facilities Total Less: unamortized discount and debt issuance costs Less: amounts due within one year and short-term borrowings Total long-term debt $ $ Unsecured Credit Facility On April 4, 2013, we entered into a syndicated Third Amended and Restated Credit Agreement (“Credit Agreement”) with 26 banks as lenders. The Credit Agreement amended and extended our existing $1.5 billion unsecured revolving credit facility and provided for a $500.0 million term loan and an option to increase the revolving credit facility for up to $500.0 million at our request, subject to approval of the lenders and certain other conditions. The term loan due April 4, 2018 amortizes in quarterly installments, with an annual amortization of 10% until March 2018 , with the balance to be paid at maturity. Interest on borrowings from the revolving credit facility and term loan during the year ended December 31, 2015 was at variable rates based on LIBOR plus 1.25% or the bank prime rate plus 0.25% and included a commitment fee at an annual rate of 0.20% on the unused portion of the revolving credit facility . The applicable margins over LIBOR rate and base rate borrowings, along with commitment fees, are subject to adjustment every quarter based on our leverage ratio, as defined in the Credit Agreement . Weighted average interest rates on borrowings outstanding on the revolving credit facility were 1.81% and 1.42% as of December 31, 2015 and 2014 , respectively. Weighted average interest rates on borrowings outstanding on the term loan were 1.67% and 1.42% as of December 31, 2015 and 2014 , respectively. As of December 31, 2015, we had $332.0 million of outstanding borrowings, $57.4 million of letters of credit issued and $1.11 billion available on the revolving credit facility. Senior Unsecured Notes On November 20, 2006, we entered into an indenture (the “2006 Indenture”), for the issuance of $600.0 million of unsecured debt securities. The total debt issued was comprised of two tranches, (a) $350.0 million aggregate principal amount of senior unsecured notes bearing interest at the rate of 6.20% per annum, maturing on November 15, 2016 and (b) $250.0 million aggregate principal amount of senior unsecured notes bearing interest at the rate of 6.85% per annum, maturing on November 15, 2036. On April 12, 2013, we entered into an indenture (the “2013 Indenture” and, together with the 2006 Indenture, the “Indentures”), for the issuance of $500.0 million aggregate principal amount of senior unsecured notes at the rate of 4.50% per annum, maturing on April 15, 2023. The net proceeds from the issuance of these notes were used to partially fund the acquisition of Metals USA. Under the Indentures, the notes are senior unsecured obligations and rank equally in right of payment with all of our existing and future unsecured and unsubordinated obligations. The notes are guaranteed by certain of our 100% ‑owned domestic subsidiaries that guarantee our revolving credit facility . The senior unsecured notes include provisions that require us to make an offer to repurchase the notes at a price equal to 101% of their principal amount plus accrued and unpaid interest in the event of a change in control and a downgrade of our credit rating. Other Notes and Revolving Credit Facilities Other revolving credit facilities with a combined credit limit of approximately $76.2 million are in place for operations in Asia and Europe with combined outstanding balances of $59.9 million and $48.3 million as of December 31, 2015 and December 31, 2014, respectively. In connection with our acquisition of Metals USA, we assumed industrial revenue bonds with combined outstanding balances of $11.0 million and $11.5 million as of December 31, 2015 and December 31, 2014, respectively, and maturities through 2027. Additionally, we assumed mortgage obligations pursuant to our acquisition of a portfolio of real estate properties that we were leasing , which have outstanding balances of $40.4 million and $41.8 million as of December 31, 2015 and December 31, 2014, respectively. The mortgages, which are secured by the underlying properties, have a fixed interest rate of 6.40% and scheduled amortization payments with a lump sum payment of $39.2 million due October 1, 2016. Covenants The Credit Agreement requires us to maintain an interest coverage ratio and a maximum leverage ratio, among other things. Our interest coverage ratio for the twelve ‑month period ended December 31, 2015 was approximately 7.0 times compared to the debt covenant minimum requirement of 3.0 times (interest coverage ratio is calculated as net income attributable to Reliance plus interest expense and provision for income taxes and plus or minus any non ‑operating non ‑recurring loss or gain, respectively, divided by interest expense). Our leverage ratio as of December 31, 2015 calculated in accordance with the terms of the Credit Agreement was 33.6% compared to the debt covenant maximum amount of 60% (leverage ratio is calculated as total debt, inclusive of capital lease obligations and outstanding letters of credit, divided by the sum of Reliance stockholders’ equity plus total debt). Our obligations under the Credit Agreement and Indentures are required to be guaranteed by certain of our 100% ‑owned domestic subsidiaries. The subsidiary guarantors, together with Reliance, are required to collectively account for at least 80% of our consolidated EBITDA and 80% of consolidated tangible assets. Reliance and the subsidiary guarantors accounted for approximately 91% of our total consolidated EBITDA for the last twelve months and approximately 83% of total consolidated tangible assets as of December 31, 2015. We were in compliance with all material covenants in our debt agreements at December 31, 2015 . Debt Maturities The following is a summary of aggregate maturities of long ‑term debt for each of the next five years and thereafter: 2016 $ 2017 2018 2019 2020 Thereafter $

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes
Income Taxes	Note 9. Income Taxes Reliance and its subsidiaries file numerous consolidated and separate income tax returns in the United States federal jurisdiction and in many state and foreign jurisdictions. We are no longer subject to U.S. federal tax examinations for years before 2011 or state and local examinations before 2009. Significant components of the provision for income taxes attributable to continuing operations are as follows: Year Ended December 31, 2015 2014 2013 (in millions) Current: Federal $ $ $ State Foreign Deferred: Federal State Foreign $ $ $ Components of U.S. and international income before income taxes were as follows: Year Ended December 31, 2015 2014 2013 (in millions) U.S. $ $ $ International Income before income taxes $ $ $ The reconciliation of income tax at the U.S. federal statutory tax rates to income tax expense is as follows: Year Ended December 31, 2015 2014 2013 Income tax at U.S. federal statutory tax rate % % % State income tax, net of federal tax effect Foreign earnings taxed at lower rates Net effect of life insurance policies Net effect of changes in unrecognized tax benefits Domestic production activity deduction Other, net Effective tax rate % % % Significant components of our deferred tax assets and liabilities are as follows: December 31, 2015 2014 (in millions) Deferred tax assets: Accrued expenses not currently deductible for tax $ $ Inventory costs capitalized for tax purposes Stock-based compensation Allowance for doubtful accounts Tax credits carryforwards Net operating loss carryforwards Total deferred tax assets Deferred tax liabilities: Property, plant and equipment, net Goodwill and other intangible assets LIFO inventories Deferred income Other Total deferred tax liabilities Net deferred tax liabilities $ $ As of December 31, 2015 , we had available state net operating loss carryforwards (“NOL”) of $7.4 million to offset future income taxes expiring in years 201 6 through 203 5 . We believe that it is more likely than not that we will be able to realize these NOL’s within their respective carryforward periods. The Company believe s it is more likely than not that it will generate sufficient future taxable income to realize the deferred tax assets. Taxes on Foreign Income As of December 31, 2015 , unremitted earnings of subsidiaries outside of the United States were approximately $187.7 million on which no United States taxes had been provided. Our intention is to indefinitely reinvest these earnings outside the United States. It is not practicable to estimate the amount of additional taxes that might be payable upon repatriation of foreign earnings. Unrecognized Tax Benefits We are under audit by various state jurisdictions but do not anticipate any material adjustments from these examinations. Reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits is as follows: Year Ended December 31, 2015 2014 2013 (in millions) Unrecognized tax benefits at January 1 $ $ $ Assumed in acquisition — — Increases in tax positions for prior years Decreases in tax positions for prior years Increases in tax positions for current year Settlements Lapses in statutes-of-limitation periods — Unrecognized tax benefits at December 31 $ $ $ As of December 31, 2015, $22.9 million of unrecognized tax benefits would impact the effective tax rate if recognized. Accrued interest and penalties, net of applicable tax effect, related to uncertain tax positions were approximately $1.3 million and $1.2 million as of December 31, 2015 and 2014, respectively. The Company is currently under U.S. federal tax audits for various years. It is difficult to predict the timing of resolution for tax positions since such timing is not entirely within the control of the Company. Some audits may conclude within the next 12 months and it is reasonably possible that there could be a significant change in the total amount of unrecognized tax benefits in the next 12 months ; however, the amount is not practical to estimate at this time.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2015
Stock-Based Compensation Plans
Stock-Based Compensation Plans	Note 10. Stock ‑Based Compensation Plans We grant stock ‑based compensation to our employees and directors. At December 31, 2015 , an aggregate of 2,251,507 shares were authorized for future grant under our various stock ‑based compensation plans, including stock options, restricted stock units, and restricted stock awards. Awards that expire or are canceled without delivery of shares generally become available for issuance under the plans. Upon exercises of stock options, vesting of restricted stock units, and vesting of restricted shares under all of our stock plans, we issue new shares of Reliance common stock. Stock Options Stock option activity under all the plans is as follows: Weighted Average Remaining Aggregate Option Weighted Average Contractual Term Intrinsic Value Stock Options Shares Exercise Price (In years) (In millions) Outstanding at January 1, 2013 $ Exercised Expired or forfeited Outstanding at December 31, 2013 Exercised Expired or forfeited Outstanding at December 31, 2014 Exercised Expired or forfeited Outstanding at December 31, 2015 $ $ Exercisable at December 31, 2015 $ $ All options outstanding at December 31, 2015 had four -year vesting periods and seven -year terms, with the exception of 102,000 options granted to our non ‑employee directors that had one -year vesting periods and ten -year terms. A summary of the status of our unvested stock options as of December 31, 2015 and changes during the year then ended is as follows: Weighted Average Grant Unvested Options Shares Date Fair Value Unvested at January 1, 2015 $ Forfeited Vested Unvested at December 31, 2015 — $ — Proceeds from stock options exercised under all stock option plans in 2015 , 2014 and 2013 were $ 15.1 million, $28.8 million and $70.1 million, respectively. The total intrinsic values of all options exercised during the years ended December 31, 2015 , 2014 and 2013 were $4.8 million, $13.5 million and $29.0 million, respectively. The tax benefit realized from option exercises during the years ended December 31, 2015 , 2014 and 2013 were $ 7.6 million, $10.7 million and $11.5 million, respectively. The following tabulation summarizes certain information concerning outstanding and exercisable options as of December 31, 2015 : Options Outstanding Options Exercisable Weighted Average Weighted Average Remaining Weighted Exercise Range of Outstanding at Contractual Life Average Exercisable at Price of Options Exercise Price December 31, 2015 in Years Exercise Price December 31, 2015 Exercisable $33 - $38 $ $ $42 - $45 $55 - $56 $61 - $67 $33 - $67 $ $ Restricted Stock In 2015 , 2014 and 2013 , we granted 507,760 , 349,380 and 327,780 , respectively, restricted stock units (“RSUs”) to key employees pursuant to the Amended and Restated Stock Option and Restricted Stock Plan. Each RSU consists of the right to receive one share of our common stock and dividend equivalent rights, subject to forfeiture, equal to the accrued cash or stock dividends where the record date for such dividends is after the grant date but before the shares vest. Additionally, each 2015, 2014 and 2013 RSU granted has a time-based condition and cliff vests at December 31, 2017, December 31, 2016 and December 31, 2015, respectively, if the recipient is an employee on those dates. In addition to the time-based condition, 185,450 , 136,162 , and 136,225 of the RSUs granted in 2015, 2014 and 2013, respectively, also have performance goals and vest only upon the satisfaction of the time-based condition and certain three -year performance targets. In addition to the 2015 RSUs described above, we also granted 10,000 time-based and 40,000 performance-based RSUs to our former CEO as a result of his expected retirement in July 2016 that have a time-based condition and eighteen-month performance targets ending June 30, 2016. The fair value of the 2015, 2014 and 2013 RSUs granted was $ 59.27 per share, $71.15 per share and $65.75 per share, respectively, determined based on the closing price of our common stock on the grant date. In 2011 and 2010, we granted 86,000 and 61,000 shares, respectively, of restricted stock to certain officers of the Company. The awards include dividend rights and vest over five years. The fair value of the 2011 and 2010 restricted stock grants was $37.29 per share and $41.24 per share, respectively, determined based on the closing price of our common stock on the grant date. As of December 31, 2015, 17,200 of these shares remain unvested and outstanding. In 2015 , 2014 and 2013 , 12,719 , 11,830 , and 12,418 shares of restricted stock, respectively, were granted to the non ‑employee members of the Board of Directors pursuant to the Directors Equity Plan. The fair value of the restricted stock granted in 2015 , 2014 , and 2013 , was $ 66.03 per share, $70.99 per share, and $67.63 per share, respectively, the closing price of our common stock on the grant date. The awards include dividend rights and vest immediately upon grant. The recipients are restricted from trading the restricted stock for one year from date of grant. A summary of the status of our unvested restricted stock grants and service and performance based RSUs as of December 31, 2015 and changes during the year then ended is as follows: Weighted Average Grant Unvested Shares Shares Date Fair Value Unvested at January 1, 2015 $ Granted Forfeited Vested Unvested at December 31, 2015 $ Unrecognized Compensation Cost As of December 31, 2015, there was approximately $27.3 million of total unrecognized compensation cost related to unvested stock ‑based compensation awards granted under all stock ‑based compensation plans. That cost is expected to be recognized over a weighted average period of 1.36 years.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2015
Employee Benefits
Employee Benefits	Note 11. Employee Benefits Employee Stock Ownership Plan We have an employee stock ownership plan (the “ESOP”) and trust that has been approved by the Internal Revenue Service as a qualified plan. The ESOP is a noncontributory plan that covers certain salaried and hourly employees of the Company. The amount of the annual contribution is at the discretion of the Board, except that the minimum amount must be sufficient to enable the ESOP trust to meet its current obligations. Defined Contribution Plans Effective in 1998, the Reliance Steel & Aluminum Co. Master 401(k) Plan (the “Master Plan”) was established, which combined several of the various 401(k) and profit ‑sharing plans of the Company and its subsidiaries into one plan. Salaried and certain hourly employees of the Company and its participating subsidiaries are covered under the Master Plan. The Master Plan allows each subsidiary’s Board to determine independently the annual matching percentage and maximum compensation limits or annual profit ‑sharing contribution. Eligibility occurs after three months of service, and the Company contribution vests at 25% per year, commencing one year after the employee enters the Master Plan. Other 401(k) and profit ‑sharing plans exist as certain subsidiaries have not combined their plans into the Master Plan as of December 31, 2015. Supplemental Executive Retirement Plans Effective January 1996, we adopted a Supplemental Executive Retirement Plan (“SERP”), which is a nonqualified pension plan that provides postretirement pension benefits to certain key officers of the Company. The SERP is administered by the Compensation Committee of the Board. Benefits are based upon the employees’ earnings. Life insurance policies were purchased for most individuals covered by the SERP. Separate SERP’s exist for certain wholly owned subsidiaries of the Company, each of which provides postretirement pension benefits to certain current and former key employees. All of the plans have been frozen to include only existing participants. Deferred Compensation Plan In December 2008, a deferred compensation plan was put in place for certain officers and key employees of the Company. Account balances from various compensation plans of subsidiaries were transferred and consolidated into this new deferred compensation plan. The balance in the Reliance Deferred Compensation Plan as of December 31, 2015 and 2014 was approximately $16.0 million and $13.5 million, respectively. The balance of the assets set aside for funding future payouts under the deferred compensation plan amounted to $15.3 million as of December 31, 2015. Defined Benefit Plans We, through certain subsidiaries, maintain qualified defined benefit pension plans for certain of our union employees. These plans generally provide benefits of stated amounts for each year of service or provide benefits based on the participant's hourly wage rate and years of service. The plans permit the sponsor, at any time, to amend or terminate the plans subject to union approval, if applicable. Certain of these plans are frozen as of December 31, 2015. We use a December 31 measurement date for our plans. The following is a summary of the status of the funding of the various SERP’s and Defined Benefit Plans: SERP’s Defined Benefit Plans 2015 2014 2015 2014 (in millions) (in millions) Change in benefit obligation Benefit obligation at beginning of year $ $ $ $ Service cost Interest cost Actuarial loss (gain) Benefits paid Plan amendments — — Benefit obligation at end of year $ $ $ $ Change in plan assets Fair value of plan assets at beginning of year N/A N/A Actual return on plan assets N/A N/A Employer contributions N/A N/A Benefits paid N/A N/A Fair value of plan assets at end of year N/A N/A $ $ Funded status Funded status of the plans $ $ $ $ Items not yet recognized as component of net periodic pension expense Unrecognized net actuarial losses $ $ $ $ Unamortized prior service (credit) cost — $ $ $ $ As of December 31, 2015 and 2014 , the following amounts were recognized in the balance sheet: SERP’s Defined Benefit Plans 2015 2014 2015 2014 (in millions) (in millions) Amounts recognized in the statement of financial position Current liabilities $ $ $ — $ — Noncurrent liabilities Accumulated other comprehensive loss Net amount recognized $ $ $ $ The accumulated benefit obligation for all SERP’s was $44.7 million and $44.6 million as of December 31, 2015 and 2014 , respectively. The accumulated benefit obligation for all defined benefit pension plans was $96.3 million and $100.5 million as of December 31, 2015 and 2014 , respectively. Year Ended December 31, 2015 2014 (in millions) Information for defined benefit plans with an accumulated benefit obligation and projected benefit obligation in excess of plan assets Accumulated benefit obligation $ $ Projected benefit obligation Fair value of plan assets Following are the details of net periodic benefit cost related to the SERP’s and Defined Benefit Plans: SERP’s Defined Benefit Plans Year Ended December 31, Year Ended December 31, 2015 2014 2013 2015 2014 2013 (in millions) (in millions) Service cost $ $ $ $ $ $ Interest cost Expected return on plan assets — — — Prior service (credit) cost Amortization of net loss $ $ $ $ $ $ Assumptions used to determine net periodic benefit cost are detailed below: SERP’s Defined Benefit Plans Year Ended December 31, Year Ended December 31, 2015 2014 2013 2015 2014 2013 Weighted average assumptions to determine net cost Discount rate % % % % % % Expected long-term rate of return on plan assets N/A N/A N/A % % % Rate of compensation increase % % % N/A N/A N/A Assumptions used to determine the benefit obligation are detailed below: SERP’s Defined Benefit Plans December 31, December 31, 2015 2014 2015 2014 Weighted average assumptions to determine benefit obligations Discount rate % % % % Expected long-term rate of return on plan assets N/A N/A % % Rate of compensation increase % % N/A N/A Employer contributions to the SERP’s and Defined Benefit Plans during 201 6 are expected to be $4.4 million and $2.1 million, respectively. Plan Assets and Investment Policy The weighted ‑average asset allocations of our Defined Benefit Plans by asset category are as follows: December 31, 2015 2014 Plan Assets Equity securities % % Debt securities % % Other % % Total % % Plan assets are invested in various asset classes that are expected to produce a sufficient level of diversification and investment return over the long term. The investment goal is a return on assets that is at least equal to the assumed actuarial rate of return over the long term within reasonable and prudent levels of risk. Investment policies reflect the unique circumstances of the respective plans and include requirements designed to mitigate risk including quality and diversification standards. Asset allocation targets are reviewed periodically with investment advisors to determine the appropriate investment strategies for acceptable risk levels. Our target allocation ranges are as follows: equity securities 50% to 80% , debt securities 20% to 60% and other assets of 0% to 10% . We establish our estimated long ‑term return on plan assets considering various factors including the targeted asset allocation percentages, historic returns and expected future returns. The fair value measurements of our Defined Benefit Plan assets fall within the following levels of the fair value hierarchy as of December 31, 2015 and 2014 : Level 1 Level 2 Level 3 Total (in millions) December 31, 2015: Common stock (1) $ $ — $ — $ U.S. government, state, and agency — — Corporate debt securities (2) — — Mutual funds (3) — Interest and non-interest bearing cash — — $ $ $ — $ December 31, 2014: Common stock (1) $ $ — $ — $ U.S. government, state, and agency — — Corporate debt securities (2) — — Mutual funds (3) — Interest and non-interest bearing cash — — $ $ $ — $ (1) Comprised primarily of securities of large domestic and foreign companies. Valued at the closing price reported on the active market on which the individual securities are traded. (2) Valued using a combination of inputs including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two ‑sided markets, benchmark securities, bids, offers, and reference data. (3) Level 1 assets are comprised of exchange traded funds, money market funds, and stock and bond funds. These assets are valued at closing price for exchange traded funds and Net Asset Value (NAV) for open ‑end and closed ‑end mutual funds. Level 2 assets are comprised of fixed income funds and pooled separate accounts and are valued at the net asset value per unit based on either the observable net asset value of the underlying investment or the net asset value of the underlying pool of securities. Summary Disclosures for All Defined Benefit Plans The following is a summary of benefit payments under our various defined benefit plans, which reflect expected future employee service, as appropriate, expected to be paid in the periods indicated: Defined SERP’s Benefit Plans (in millions) 2016 $ $ 2017 2018 2019 2020 2021 – 2025 The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during 2016 are as follows: Defined SERP’s Benefit Plans (in millions) Actuarial loss $ $ Prior service cost — Total $ $ Supplemental Bonus Plan In connection with the acquisition of Earle M. Jorgensen Company (“EMJ”) in April 2006, Reliance assumed the obligation resulting from EMJ’s settlement with the U.S. Department of Labor to contribute 258,006 shares of Reliance common stock to EMJ’s Supplemental Bonus Plan, a phantom stock bonus plan supplementing the EMJ Retirement Savings Plan. In 2005, EMJ had reached a settlement with the U.S. Department of Labor regarding a change in its methodology for annual valuations of its stock while it was a private company, for the purpose of making contributions in stock to its retirement plan. As of December 31, 2015, the remaining obligation to the EMJ Supplemental Bonus Plan consisted of the cash equivalent of 90,725 shares of Reliance common stock totaling approximately $5.3 million. The adjustments to reflect this obligation at fair value based on the closing price of our common stock at the end of each reporting period are included in Warehouse, delivery, selling, general and administrative expense. The (income) expense from mark to market adjustments to this obligation in each of the years ended December 31, 2015 , 2014 and 2013 amounted to approximately $(0.2) million , $(1.3) million and $1.5 million, respectively. This obligation will be satisfied by future cash payments to participants upon their termination of employment. Contributions to Reliance Sponsored Retirement Plans Our expense for Reliance ‑sponsored retirement plans was as follows: Year Ended December 31, 2015 2014 2013 (in millions) Master Plan $ $ $ Other Defined Contribution Plans Employee Stock Ownership Plan Deferred Compensation Plan Supplemental Executive Retirement Plans Defined Benefit Plans $ $ $

Equity

Equity	12 Months Ended
	Dec. 31, 2015
Equity
Equity	Note 12. Equity Reincorporation During the second quarter of 2015, the Company’s shareholders approved the reincorporation of the Company from California to Delaware by means of a merger with and into a wholly owned Delaware subsidiary. The reincorporation did not result in any change in the Company’s business, physical location, management, assets, liabilities, net worth or number of authorized shares. In the reincorporation, the Company’s Restated Certificate of Incorporation established par value of the Company’s common stock and unissued preferred stock of $0.001 per share. Common Stock We paid regular quarterly cash dividends on our common stock in 201 5 . Our Board of Directors increased the quarterly dividend to $0.30 per share from $0.25 per share of common stock in February 2013, increased it to $0.33 per share in July 2013, increased it to $0.35 per share in February 2014, and increased it again in February 2015 to $0.40 per share. The holders of Reliance common stock are entitled to one vote per share on each mat ter submitted to a vote of stock holders. Share Repurchase Plan On October 21, 2014, our Board of Directors extended our share repurchase plan to December 31, 2017. On October 20, 2015, our Board of Directors again amended our share repurchase plan increasing by 7,500,000 shares the total number of shares authorized to be repurchased and extending the program through December 31, 2018. During the year ended December 31, 2015, we repurchased 6,194,641 shares of our common stock at an average cost of $57.39 for approximately $355.5 million through open market purchases under a plan complying with Rule10b5-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We repurchased 759,800 shares of our common stock at an average cost of $65.80 per share for approximately $50.0 million through open market purchases in 2014. We did not repurchase any of our common stock in 2013. Since initiating the share repurchase plan in 1994 we have purchased approximately 22.1 million shares at an average cost of $30.93 per share. As of December 31, 2015, we had authorization to purchase an additional 8,428,592 shares under our existing share repurchase plan. Preferred Stock We are authorized to issue 5,000,000 shares of preferred stock, $0.001 per share. No shares of our preferred stock are issued and outstanding . Our restated articles of incorporation provide that shares of preferred stock may be issued from time to time in one or more series by the Board. The Board can fix the preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends, qualifications and terms and conditions of redemption of each series of preferred stoc k. The rights of preferred stock holders may supersede the rights of commo n stock holders. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss included the following: Unrealized Pension and Accumulated Foreign Currency Gain (Loss) on Postretirement Other Translation Investments, Benefit Adjustments, Comprehensive Loss Net of Tax Net of Tax Loss (in millions) Balance as of January 1, 2015 $ $ $ $ Current-period change Balance as of December 31, 2015 $ $ — $ $ Foreign currency translation adjustments are not generally adjusted for income taxes as they relate to indefinite investments in foreign subsidiaries. Pension and postretirement benefit adjustments are net of taxes of $15.6 million as of December 31, 2015 and December 31, 2014. See “ Note 11 – Employee Benefits” for information regarding reclassification of amounts from accumulated comprehensive loss to net income.

Other Income, net

Other Income, net	12 Months Ended
	Dec. 31, 2015
Other Income, net
Other Income, net	Note 13. Other (Expense) Income, net Significant components of Other income, net are as follows: Year Ended December 31, 2015 2014 2013 (in millions) Investment income from life insurance policies $ $ $ Interest expense on life insurance policy loans Gain on acquisition achieved in stages — — Life insurance policy cost of insurance Income from life insurance policy redemptions — Foreign currency transaction gains (losses) — Rental income Interest income Equity in earnings of unconsolidated entities — All other, net $ $ $

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies.
Commitments and Contingencies	Note 14. Commitments and Contingencies Lease Commitments We lease land, buildings and equipment under non ‑cancelable operating leases expiring in various years through 2028. Rent expense for leases that contain scheduled rent increases are recorded on a straight ‑line basis. Several of the leases have renewal options providing for additional lease periods. Future minimum payments, by year and in the aggregate, under the non ‑cancelable leases with initial or remaining terms of one year or more, consisted of the following as of December 31, 2015: Operating Leases (in millions) 2016 $ 2017 2018 2019 2020 Thereafter $ Total rental expense amounted to $80.0 million, $79.3 million and $79.9 million in 2015 , 2014 and 2013 , respectively. Included in the amounts for operating leases are lease payments to various related parties, who are not executive officers of the Company, in the amounts of $5.2 million, $5.5 million and $4.8 million in 2015 , 2014 and 2013 , respectively. These related party leases are for buildings leased to certain of the companies we have acquired and expire in various years through 2021. Purchase Commitments As of December 31, 2015, we had commitments to purchase minimum quantities of certain metal products, which we entered into to secure material for corresponding long ‑term sales commitments we have entered into with our customers. The total amount of the minimum commitments based on current pricing is estimated at approximately $53.9 mi llion, with amounts in 2016, 2017 and thereafter being $47.5 million, $4.2 million, and $2.2 million, respectively. Collective Bargaining Agreements As of December 31, 2015 , approximately 11% , or 1,580 , of our total employees are covered by 41 collective bargaining agreements at 51 of our different locations , which expire at various times over the next five years. Approximately 500 of our employees are covered by 21 different collective bargaining agreements that expire during 2016 . Environmental Contingencies We are subject to extensive and changing federal, state, local and foreign laws and regulations designed to protect the environment, including those relating to the use, handling, storage, discharge and disposal of hazardous substances and the remediation of environmental contamination. Our operations use minimal amounts of such substances. We believe we are in material compliance with environmental laws and regulations; however, we are from time to time involved in administrative and judicial proceedings and inquiries relating to environmental matters. Some of our owned or leased properties are located in industrial areas with histories of heavy industrial use. We may incur some environmental liabilities because of the location of these properties. In addition, we are currently involved with certain environmental remediation projects related to activities at former manufacturing operations of EMJ, our wholly owned subsidiary, that were sold many years prior to Reliance’s 2006 acquisition of EMJ. Although the potential cleanup costs could be significant, EMJ had maintained insurance policies during the time it owned the manufacturing operations that have covered costs incurred to date, and are expected to continue to cover the majority of the related costs. We do not expect that these obligations will have a material adverse impact on our consolidated financial position, results of operations or cash flows. Legal Matters In 2014, Reliance and Chapel Steel Corp. (“Chapel”) were defendants in an antitrust lawsuit filed in the United States District Court for the Southern District of Texas brought by two former employees who claimed that Reliance, Chapel and the co-defendants engaged in anticompetitive activities. Following a judgment against all the defendants, Reliance and Chapel settled all claims against them relating to this matter for $23.0 million. From time to time, we are named as a defendant in legal actions. Generally, these actions arise out of our normal course of business. We are not a party to any pending legal proceedings other than routine litigation incidental to the business. We expect that these matters will be resolved without having a material adverse effect on our results of operations or financial condition. We maintain liability insurance against risks arising out of our normal course of business.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share
Earnings Per Share	Note 15. Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: Year Ended December 31, 2015 2014 2013 (in millions, except share and per share amounts) Numerator: Net income attributable to Reliance $ $ $ Denominator: Weighted average shares outstanding Dilutive effect of stock-based awards Weighted average diluted shares outstanding Earnings per share attributable to Reliance stockholders: Diluted $ $ $ Basic $ $ $ Potentially dilutive securities whose effect would have been antidilutive were not significant for 2015, 2014, and 2013.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2015
Segment Information
Segment Information	Note 16. Segment Information We have one reportable segment, metals service centers. All of our recent acquisitions were metals service centers and did not result in new reportable segments. Although a variety of products or services are sold at our various locations, in total, sales were comprised of the following in each of the three years ended December 31: 2015 2014 2013 Carbon steel % % % Aluminum % % % Stainless steel % % % Alloy steel % % % Toll processing % % % Other % % % Total % % % The following table summarizes consolidated financial information of our operations by geographic location based on where sales originated from: United States Foreign Countries Total (in millions) Year Ended December 31, 2015 Net sales $ $ $ Long-lived assets Year Ended December 31, 2014 Net sales Long-lived assets Year Ended December 31, 2013 Net sales Long-lived assets

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2015
Subsequent Event
Subsequent Event	Note 17. Subsequent Event On January 1 , 2016, we acquired Tubular Steel, Inc. (“TSI”), a distributor and processor of carbon, alloy and stainless steel pipe, tubing and bar products. TSI, headquartered in St. Louis, Missouri, has seven locations and a fabrication business that supports its diverse customer base. This acquisition was funded with borrowings on our revolving credit facility. For the year ended December 31, 2014, TSI’s net sales were approximately $200.0 million.

Impairment of Long-lived Assets

Impairment of Long-lived Assets	12 Months Ended
	Dec. 31, 2015
Impairment of Long-lived Assets.
Impairment of Long-lived Assets	Note 1 8 . Impairment of Long-Lived Assets In 2015 , we recorded a $53.3 million impairment charge of long-lived assets primarily related to certain of our energy-related businesses as a result of the impact to our businesses from continued low crude oil prices and the resulting decline in the demand for the products we sell to the energy (oil and gas) market. This included a charge of $17.7 million for property, plant, and equipment directly related to the closure of certain of our energy-related businesses where we anticipate losses on the disposition of certain assets and an impairment charge of $35.6 million related to our intangible assets, net due to the loss of customers and lowered expectations of future profitability. The measurement of these assets at fair value was determined using a combination of discounted cash flow techniques for intangible assets and the market approach for property, plant, and equipment. We recognized an impairment loss of $14.9 million related to one of our trade name intangible assets in 2013. No impairment of long-lived assets was recognized in 2014.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	12 Months Ended
	Dec. 31, 2015
Condensed Consolidating Financial Statements
Condensed Consolidating Financial Statements	Note 1 9 . Condensed Consolidating Financial Statements In November 2006 and April 2013, we issued senior unsecured notes in the aggregate principal amount of $1.1 billion, at fixed interest rates that are guaranteed by certain of our 100% -owned domestic subsidiaries that also guarantee borrowings under the Credit Agreement. The accompanying consolidating financial information has been prepared and presented pursuant to Rule 3 ‑10 of SEC Regulation S ‑X “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.” The guarantees are full and unconditional and joint and several obligations of each of the guarantor subsidiaries. There are no significant restrictions on our ability to obtain funds from any of the guarantor subsidiaries by dividends or loans. The supplemental consolidating financial information has been presented in lieu of separate financial statements of the guarantors as such separate financial statements are not considered meaningful. Condensed Consolidating Balance Sheet As of December 31, 2015 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Assets Cash and cash equivalents $ $ $ $ — $ Accounts receivable, net Inventories — Income taxes receivable — — Other current assets Total current assets Investments in subsidiaries — — Property, plant and equipment, net — Goodwill — Intangible assets, net — Intercompany receivables — Other assets — Total assets $ $ $ $ $ Liabilities & Equity Accounts payable $ $ $ $ $ Accrued compensation and retirement costs — Other current liabilities Current maturities of long-term debt and short-term borrowings — — Total current liabilities Long-term debt — Intercompany borrowings — — Other long-term liabilities — Total Reliance stockholders’ equity Noncontrolling interests — — Total equity Total liabilities and equity $ $ $ $ $ Condensed Consolidating Balance Sheet As of December 31, 2014 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Assets Cash and cash equivalents $ $ $ $ — $ Accounts receivable, net Inventories — Other current assets Total current assets Investments in subsidiaries — — Property, plant and equipment, net — Goodwill — Intangible assets, net — Intercompany receivables — Other assets — Total assets $ $ $ $ $ Liabilities & Equity Accounts payable $ $ $ $ $ Accrued compensation and retirement costs — Other current liabilities Deferred income taxes — — Current maturities of long-term debt and short-term borrowings — — Total current liabilities Long-term debt — Intercompany borrowings — — Other long-term liabilities Total Reliance stockholders’ equity Noncontrolling interests — — Total equity Total liabilities and equity $ $ $ $ $ Condensed Consolidating Statement of Comprehensive Income For the year ended December 31, 2015 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Net sales $ $ $ $ $ Costs and expenses: Cost of sales (exclusive of depreciation and amortization shown below) Warehouse, delivery, selling, general and administrative Depreciation and amortization — Impairment of long-lived assets — — Operating income Other income (expense): Interest Other income (expense), net (Loss) income before equity in earnings of subsidiaries and income taxes — Equity in earnings of subsidiaries — — Income before income taxes Income tax (benefit) provision — Net income Less: Net income attributable to noncontrolling interests — — — Net income attributable to Reliance $ $ $ $ $ Comprehensive income (loss) attributable to Reliance $ $ $ $ $ Condensed Consolidating Statement of Comprehensive Income For the year ended December 31, 2014 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Net sales $ $ $ $ $ Costs and expenses: Cost of sales (exclusive of depreciation and amortization shown below) Warehouse, delivery, selling, general and administrative Depreciation and amortization — Operating income Other income (expense): Interest Other income (expense), net Income before equity in earnings of subsidiaries and income taxes — Equity in earnings of subsidiaries — — Income before income taxes Income tax (benefit) provision — Net income Less: Net income attributable to noncontrolling interests — — Net income attributable to Reliance $ $ $ $ $ Comprehensive income attributable to Reliance $ $ $ $ $ Condensed Consolidating Statement of Comprehensive Income For the year ended December 31, 2013 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Net sales $ $ $ $ $ Costs and expenses: Cost of sales (exclusive of depreciation and amortization shown below) Warehouse, delivery, selling, general and administrative Depreciation and amortization — Impairment of long-lived assets — — — Operating (loss) income Other income (expense): Interest Other income, net (Loss) income before equity in earnings of subsidiaries and income taxes — Equity in earnings of subsidiaries — — Income before income taxes Income tax (benefit) provision — Net income Less: Net income attributable to noncontrolling interests — — Net income attributable to Reliance $ $ $ $ $ Comprehensive income attributable to Reliance $ $ $ $ $ Condensed Consolidating Cash Flow Statement For the year ended December 31, 2015 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Net cash provided by operating activities $ $ $ $ — $ Investing activities: Purchases of property, plant and equipment — Net repayments from subsidiaries — — — Other investing activities, net — Net cash provided by (used in) investing activities Financing activities: Net short-term debt borrowings — — — Proceeds from long-term debt borrowings — — — Principal payments on long-term debt — — Dividends and dividend equivalents paid — — — Share repurchases — — — Net intercompany repayments — — Other financing activities, net — — Net cash used in financing activities Effect of exchange rate changes on cash and cash equivalents — — — (Decrease) increase in cash and cash equivalents — Cash and cash equivalents at beginning of year — Cash and cash equivalents at end of year $ $ $ $ — $ Condensed Consolidating Cash Flow Statement For the year ended December 31, 2014 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Net cash provided by operating activities $ $ $ $ — $ Investing activities: Purchases of property, plant and equipment — Acquisitions, net of cash acquired - — Net advances to subsidiaries — — — Other investing activities, net — Net cash used in investing activities Financing activities: Net short-term debt borrowings — — — Proceeds from long-term debt borrowings — - — Principal payments on long-term debt — Dividends paid — — — Net intercompany borrowings — — Other financing activities, net — - Net cash provided by financing activities Effect of exchange rate changes on cash and cash equivalents — — — Increase (decrease) in cash and cash equivalents — Cash and cash equivalents at beginning of year — Cash and cash equivalents at end of year $ $ $ $ — $ Condensed Consolidating Cash Flow Statement For the year ended December 31, 2013 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Net cash provided by operating activities $ $ $ $ — $ Investing activities: Purchases of property, plant and equipment — Acquisition, net of cash acquired — — — Net advances to subsidiaries — — — Other investing activities, net — Net cash used in investing activities Financing activities: Net short-term debt (repayments) borrowings — — Proceeds from long-term debt borrowings — — — Principal payments on long-term debt — Dividends paid — — — Net intercompany (repayments) borrowings — — Other financing activities, net — — Net cash provided by (used in) financing activities Effect of exchange rate changes on cash and cash equivalents — — — (Decrease) increase in cash and cash equivalents — Cash and cash equivalents at beginning of year — Cash and cash equivalents at end of year $ $ $ $ — $

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited)	Note 20 . Quarterly Financial Information (Unaudited) The following is a summary of the unaudited quarterly results of operations for 2015 and 201 4 : March 31, June 30, September 30, December 31, (in millions, except per share amounts) 2015: Net sales $ $ $ $ Cost of sales Gross profit (1) Net income Net income attributable to Reliance Earnings per share attributable to Reliance stockholders Diluted Basic 2014: Net sales $ $ $ $ Cost of sales Gross profit (1) Net income Net income attributable to Reliance Earnings per common share attributable to Reliance stockholders Diluted Basic (1) Gross profit, calculated as net sales less cost of sales, is a non ‑GAAP financial measure as it excludes depreciation and amortization expense associated with the corresponding sales. The majority of our orders are basic distribution with no processing services performed. For the remainder of our sales orders, we perform “first ‑stage” processing, which is generally not labor intensive as we are simply cutting the metal to size. Because of this, the amount of related labor and overhead, including depreciation and amortization, are not significant and are excluded from our cost of sales. Therefore, our cost of sales is primarily comprised of the cost of the material we sell. We use gross profit as shown above as a measure of operating performance. Gross profit is an important operating and financial measure, as fluctuations in gross profit can have a significant impact on our earnings. Gross profit, as presented, is not necessarily comparable with similarly titled measures for other companies. Quarterly and year ‑to ‑date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarters may not agree with per share amounts for the years shown elsewhere in this Annual Report on Form 10 ‑K.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2015
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	RELIANCE STEEL & ALUMINUM CO. SCHEDULE II—VALUATION AND QUALIFYING ACCOUNT S (in millions) Additions Amounts Balance at Charged to Charged to Balance at Beginning Costs and Other End of Description of Period Expenses Deductions Accounts Period Year Ended December 31, 2013 Allowance for doubtful accounts $ $ $ (1) $ $ Year Ended December 31, 2014 Allowance for doubtful accounts $ $ $ (1) $ — $ Year Ended December 31, 2015 Allowance for doubtful accounts $ $ $ (1) $ — $ (1) Uncollectible accounts written off. See accompanying report of independent registered public accounting firm.

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of Reliance Steel & Aluminum Co. and its subsidiaries (collectively referred to as “Reliance”, “the Company”, “we”, “our” or “us”). Our consolidated financial statements include the assets, liabilities and operating results of majority ‑owned subsidiaries. The ownership of the other interest holders of consolidated subsidiaries is reflected as noncontrolling interests. Our investments in unconsolidated subsidiaries are recorded under the equity method of accounting. All significant intercompany accounts and transactions have been eliminated.
Accounting Estimates	Accounting Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, such as accounts receivable collectability, valuation of inventories, goodwill, long ‑lived assets, income tax and other contingencies, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Accounts Receivable and Concentrations of Credit Risk	Accounts Receivable and Concentrations of Credit Risk Concentrations of credit risk with respect to trade receivables are limited due to the geographically diverse customer base and various industries into which our products are sold. Trade receivables are typically non ‑interest bearing and are initially recorded at cost. Sales to our recurring customers are generally made on open account terms while sales to occasional customers may be made on a C.O.D. basis when collectability is not assured. Past due status of customer accounts is determined based on how recently payments have been received in relation to payment terms granted. Credit is generally extended based upon an evaluation of each customer’s financial condition, with terms consistent in the industry and no collateral required. Losses from credit sales are provided for in the financial statements and consistently have been within the allowance provided. The allowance is an estimate of the uncollectability of accounts receivable based on an evaluation of specific customer risks along with additional reserves based on historical and probable bad debt experience. Amounts are written off against the allowance in the period we determine that the receivable is uncollectible. As a result of the above factors, we do not consider ourselves to have any significant concentrations of credit risk.
Inventories	Inventories The majority of our inventory is valued using the last ‑in, first ‑out (“LIFO”) method, which is not in excess of market. Under this method, older costs are included in inventory, which may be higher or lower than current costs. This method of valuation is subject to year ‑to ‑year fluctuations in cost of material sold, which is influenced by the inflation or deflation existing within the metals industry as well as fluctuations in our product mix and on ‑hand inventory levels.
Fair Values of Financial Instruments	Fair Values of Financial Instruments Fair values of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other current liabilities, and the current portion of long ‑term debt approximate carrying values due to the short period of time to maturity. Fair values of long ‑term debt, which have been determined based on borrowing rates currently available to us or to other companies with comparable credit ratings, for loans with similar terms or maturity, approximate the carrying amounts in the consolidated financial statements, with the exception of our $1.1 billion publicly traded senior unsecured notes. The fair values of these senior unsecured notes based on quoted market prices as of December 31, 2015 and 2014 , were approximately $1.08 billion and $1.16 billion, respectively, compared to their carrying value of approximately $1.09 billion as of the end of each period. These estimated fair values are based on Level 2 inputs.
Cash Equivalents	Cash Equivalents We consider all highly liquid instruments with an original maturity of three months or less when purchased to be cash equivalents. We maintain cash and cash equivalents with high ‑credit, quality financial institutions. The Company, by policy, limits the amount of credit exposure to any one financial institution.
Goodwill	Goodwill Goodwill is the excess of cost over the fair value of net assets of businesses acquired. Goodwill is not amortized but is tested for impairment at least annually. We have one operating segment and one reporting unit for goodwill impairment purposes. We test for impairment of goodwill by assessing qualitative factors to determine if the fair value of the reporting unit is more likely than not below the carrying value of the reporting unit. We also calculate the fair value of the reporting unit using our market capitalization or the discounted cash flow method, as necessary, and compare the fair value to the carrying value of the reporting unit to determine if impairment exists. We perform the required annual goodwill impairment evaluation on November 1 of each year. No impairment of goodwill was determined to exist in any of the years presented.
Long-Lived Assets	Long ‑Lived Assets Property, plant and equipment is recorded at cost (or at fair value for assets acquired in connection with business combinations) and the provision for depreciation of these assets is generally computed on the straight ‑line method at rates designed to distribute the cost of assets over the useful lives, estimated as follows: buildings, including leasehold improvements, over five to 50 years and machinery and equipment over three to 20 years. Other intangible assets with finite useful lives are amortized over their useful lives. Other intangible assets deemed to have indefinite lives are not amortized but are subject to annual impairment tests. We review the recoverability of our long ‑lived assets whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We recognized impairment losses of $14.4 million on our other intangible assets with finite lives in 2015 and $21.2 million and $14.9 million related to our other intangible assets with indefinite lives in 2015 and 2013, respectively. We recognized impairment losses of $17.7 million for property, plant, and equipment in 2015. See “Note 18 – Impairment of Long-Lived Assets” for further discussion of our impairment losses. No long-lived asset impairment losses were recognized during the year ended December 31, 2014.
Revenue Recognition	Revenue Recognition We recognize revenue from product or processing sales upon concluding that all of the fundamental criteria for product revenue recognition have been met, such as a fixed or determinable sales price; reasonable assurance of collectability; and passage of title and risks of ownership to the buyer. Such criteria are usually met upon delivery to the customer for orders with FOB destination terms or upon shipment for orders with FOB shipping point terms, or after toll processing services are performed. Considering the close proximity of our customers to our metals service center locations, shipment and delivery of our orders generally occur on the same day. Billings for orders where the revenue recognition criteria are not met, which primarily include certain bill and hold transactions (in which our customers request to be billed for the material but request delivery at a later date), are recorded as deferred revenue. Shipping and handling charges to our customers are included in Net sales. Costs incurred in connection with shipping and handling our products that are performed by third-party carriers and costs incurred by our personnel are typically included in operating expenses. In 2015 , 2014 and 2013 , shipping and handling costs included in Warehouse, delivery, selling, general and administrative expenses were approximately $319.1 million, $312.6 million, and $284.8 million, respectively.
Share-Based Compensation	Stock ‑Based Compensation All of our stock ‑based compensation plans are considered equity plans. We calculate the fair value of stock option awards on the date of the grant based on the closing market price of our common stock, using a Black ‑Scholes option ‑pricing model. The fair value of restricted stock grants is determined based on the fair value of our common stock on the day of the grant. The fair value of stock option and restricted stock awards is expensed on a straight ‑line basis over their respective vesting periods, net of estimated forfeitures. The stock-based compensation expense recorded was $21. 3 million, $22.8 million, and $26.0 million in 2015 , 2014 and 2013 , respectively, and is included in the Warehouse, delivery, selling, general and administrative expense caption of our consolidated statements of income.
Environmental Remediation Costs	Environmental Remediation Costs We accrue for losses associated with environmental remediation obligations when such losses are probable and reasonably estimable. Accruals for estimated losses from environmental remediation obligations generally are recognized no later than completion of the remediation feasibility study. Such accruals are adjusted as further information develops or circumstances change. Recoveries of environmental remediation costs from other parties are recorded as assets when their receipt is deemed probable. We are not aware of any environmental remediation obligations that would materially affect our operations, financial position or cash flows. See “Note 14 – Commitments and Contingencies” for further discussion on our environmental remediation matters.
Income Taxes	Income Taxes We file a consolidated U.S. federal income tax return with our wholly owned domestic subsidiaries. The deferred tax assets and/or liabilities are determined by multiplying the differences between the financial reporting and tax reporting bases for assets and liabilities by the enacted tax rates expected to be in effect when such differences are recovered or settled. The effect on deferred taxes from a change in tax rates is recognized in income in the period that includes the enactment date of the change. The provision for income taxes reflects the taxes to be paid for the period and the change during the period in the deferred tax assets and liabilities. We evaluate on a quarterly basis whether, based on all available evidence, it is probable that the deferred income tax assets are realizable. Valuation allowances are established when it is estimated that it is more likely than not that the tax benefit of the deferred tax asset will not be realized. We make a comprehensive review of our uncertain tax positions on a quarterly basis. Tax benefits are recognized when it is more ‑likely ‑than ‑not that a tax position will be sustained upon examination by the authorities. The benefit from a position that has surpassed the more ‑likely ‑than ‑not threshold is the largest amount of benefit that is more than 50% likely to be realized upon settlement. We recognize interest and penalties accrued related to unrecognized tax benefits as a component of income tax expense.
Foreign Currencies	Foreign Currencies The currency effects of translating the financial statements of our foreign subsidiaries, which operate in local currency environments, are included in other comprehensive income. Gains and losses resulting from foreign currency transactions are included in the results of operations in the Other (expense) income, net caption and amounted to an insignificant amount in 2015 , a net gain of $3.1 million in 2014, and a net loss of $2.6 million in 201 3.
Impact of Recently Issued Accounting Standards - Adopted	Impact of Recently Issued Accounting Standards — Adopted Balance Sheet Classification of Deferred Taxes — In November 2015, the Financial Accounting Standards Board (“FASB”) issued accounting changes requiring all deferred tax assets and liabilities, and any related valuation allowance, to be presented as a single noncurrent amount on the balance sheet. The accounting guidance reduces the cost and complexity of recording deferred taxes as current and noncurrent. The guidance may be either adopted prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We elected to prospectively adopt the accounting changes on October 1, 2015. The deferred tax amounts presented in our consolidated financial statements as of December 31, 2014 were not retrospectively adjusted. Simplifying the Measurement of Inventory —In July 2015, the FASB issued accounting changes requiring that inventory that is measured using first-in, first-out (FIFO) or average cost be measured at the lower of cost and net realizable value. The accounting guidance reduces the cost and complexity of measuring inventory at the lower of cost or market for which market could be replacement cost, net realizable value, or net realizable value less an appropriate normal profit margin. Our adoption of these accounting changes on October 1, 2015 did not have a material impact on our consolidated financial statements. This guidance did not apply to LIFO inventories, which comprise approximately 80% of our inventories. Simplifying the Presentation of Debt Issuance Costs —In April 2015, the FASB issued accounting changes, which simplify the presentation of debt issuance costs. The guidance requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with the presentation of debt discounts. The guidance is to be applied retrospectively to all prior periods presented in the financial statements . We adopted these accounting changes on April 1, 2015 , which resulted in a $14.2 million reduction of our Intangible assets, net and Long-term debt at December 31, 2014. Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity —In April 2014, the FASB issued accounting guidance for reporting discontinued operations and disposals of components of an entity. The guidance limits discontinued operations reporting to those disposals which represent a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. The updated guidance also expands the disclosure requirements for discontinued operations and adds new disclosures for individually significant dispositions that do not qualify as discontinued operations. We adopted and applied the new guidance to our sale of Metals USA’s non-core roofing business in May 2014. The adoption of these changes did not have a material impact on our consolidated financial statements. Comprehensive Income Reporting and Disclosures —On January 1, 2013, we adopted changes issued by the FASB, which require additional disclosures for the reclassification of significant amounts from accumulated other comprehensive income (loss) to net income. This guidance requires that the effect of certain significant amounts be presented either on the face of the consolidated statements of comprehensive income or in a single note. For other amounts, we are required to cross ‑reference disclosures that provide additional detail about those amounts. The adoption of these changes did not have a material impact on our consolidated financial statements. Impact of Recently Issued Accounting Standards—Not Yet Adopted Revenue from Contracts with Customers —In May 2014, the FASB issued accounting changes, which replace most of the detailed guidance on revenue recognition that currently exists under U.S. GAAP. Under the new guidance an entity should recognize revenue in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance will be effective for fiscal years beginning after December 15, 2016. Early adoption is not permitted. We are evaluating the new standard, but do not expect this standard to have a material impact on our consolidated financial statements.

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2015
2014 acquisitions
Acquisitions
Schedule of allocation of the purchase price of acquisition to the fair value of the assets acquired and liabilities assumed	(in millions) Cash $ Accounts receivable Inventories Property, plant and equipment Goodwill Intangible assets subject to amortization Intangible assets not subject to amortization Other current and long-term assets Total assets acquired Current and long-term debt Deferred taxes Other current and long-term liabilities Total liabilities assumed Net assets acquired $
2013 acquisitions
Acquisitions
Schedule of allocation of the purchase price of acquisition to the fair value of the assets acquired and liabilities assumed	(in millions) Cash $ Accounts receivable Inventories Property, plant and equipment Goodwill Intangible assets subject to amortization Intangible assets not subject to amortization Other current and long-term assets Total assets acquired Current and long-term debt Deferred taxes Other current and long-term liabilities Total liabilities assumed Net assets acquired $

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill.
Schedule of changes in the carrying amount of goodwill	(in millions) Balance at January 1, 2013 $ Acquisitions Effect of foreign currency translation Balance at December 31, 2013 Acquisitions Consolidation of a joint venture entity Purchase price allocation adjustments Sale of business Effect of foreign currency translation Balance at December 31, 2014 Acquisitions Purchase price allocation adjustments Effect of foreign currency translation Balance at December 31, 2015 $

Intangible Assets, net (Tables)

Intangible Assets, net (Tables)	12 Months Ended
	Dec. 31, 2015
Intangible Assets, net
Summarizes our intangible assets, net	December 31, 2015 December 31, 2014 Weighted Average Gross Gross Amortizable Carrying Accumulated Carrying Accumulated Life in Years Amount Amortization Amount Amortization (in millions) Intangible assets subject to amortization: Covenants not to compete $ $ $ $ Customer lists/relationships Software – internal use Other Intangible assets not subject to amortization: Trade names — — $ $ $ $
Summary of estimated aggregate amortization expense	(in millions) 2016 $ 2017 2018 2019 2020

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Debt
Summary of debt	December 31, December 31, 2015 2014 (in millions) Unsecured revolving credit facility due April 4, 2018 $ $ Unsecured term loan due from March 31, 2016 to April 4, 2018 Senior unsecured notes due November 15, 2016 Senior unsecured notes due April 15, 2023 Senior unsecured notes due November 15, 2036 Other notes and revolving credit facilities Total Less: unamortized discount and debt issuance costs Less: amounts due within one year and short-term borrowings Total long-term debt $ $
Summary of aggregate maturities of long-term debt for each of the next five years and thereafter	2016 $ 2017 2018 2019 2020 Thereafter $

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Taxes
Schedule of components of the provision for income taxes attributable to continuing operations	Year Ended December 31, 2015 2014 2013 (in millions) Current: Federal $ $ $ State Foreign Deferred: Federal State Foreign $ $ $
Components of U.S. and international income before income taxes	Year Ended December 31, 2015 2014 2013 (in millions) U.S. $ $ $ International Income before income taxes $ $ $
Schedule of reconciliation of income tax at the U.S. federal statutory tax rates to income tax expense	Year Ended December 31, 2015 2014 2013 Income tax at U.S. federal statutory tax rate % % % State income tax, net of federal tax effect Foreign earnings taxed at lower rates Net effect of life insurance policies Net effect of changes in unrecognized tax benefits Domestic production activity deduction Other, net Effective tax rate % % %
Schedule of components of the Company's deferred tax assets and liabilities	December 31, 2015 2014 (in millions) Deferred tax assets: Accrued expenses not currently deductible for tax $ $ Inventory costs capitalized for tax purposes Stock-based compensation Allowance for doubtful accounts Tax credits carryforwards Net operating loss carryforwards Total deferred tax assets Deferred tax liabilities: Property, plant and equipment, net Goodwill and other intangible assets LIFO inventories Deferred income Other Total deferred tax liabilities Net deferred tax liabilities $ $
Schedule of reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits	Year Ended December 31, 2015 2014 2013 (in millions) Unrecognized tax benefits at January 1 $ $ $ Assumed in acquisition — — Increases in tax positions for prior years Decreases in tax positions for prior years Increases in tax positions for current year Settlements Lapses in statutes-of-limitation periods — Unrecognized tax benefits at December 31 $ $ $

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2015
Stock-Based Compensation Plans
Schedule of stock option activity	Weighted Average Remaining Aggregate Option Weighted Average Contractual Term Intrinsic Value Stock Options Shares Exercise Price (In years) (In millions) Outstanding at January 1, 2013 $ Exercised Expired or forfeited Outstanding at December 31, 2013 Exercised Expired or forfeited Outstanding at December 31, 2014 Exercised Expired or forfeited Outstanding at December 31, 2015 $ $ Exercisable at December 31, 2015 $ $
Summary of the status of the Company's non-vested stock options and service and performance RSU changes during the year	Weighted Average Grant Unvested Options Shares Date Fair Value Unvested at January 1, 2015 $ Forfeited Vested Unvested at December 31, 2015 — $ —
Summary of certain information concerning outstanding and exercisable options	Options Outstanding Options Exercisable Weighted Average Weighted Average Remaining Weighted Exercise Range of Outstanding at Contractual Life Average Exercisable at Price of Options Exercise Price December 31, 2015 in Years Exercise Price December 31, 2015 Exercisable $33 - $38 $ $ $42 - $45 $55 - $56 $61 - $67 $33 - $67 $ $
Summary of the status of the Company's unvested restricted stock grants and restricted stock units and changes during the period	Weighted Average Grant Unvested Shares Shares Date Fair Value Unvested at January 1, 2015 $ Granted Forfeited Vested Unvested at December 31, 2015 $

Employee Benefits (Tables)

Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2015
Employee Benefits
Summary of benefit payments under various defined benefit plans, which reflect expected future employee service, as appropriate, expected to be paid in the future periods	Defined SERP’s Benefit Plans (in millions) 2016 $ $ 2017 2018 2019 2020 2021 – 2025
Amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during 2015	Defined SERP’s Benefit Plans (in millions) Actuarial loss $ $ Prior service cost — Total $ $
Schedule of Company's expense (credit) for Reliance-sponsored retirement plans	Year Ended December 31, 2015 2014 2013 (in millions) Master Plan $ $ $ Other Defined Contribution Plans Employee Stock Ownership Plan Deferred Compensation Plan Supplemental Executive Retirement Plans Defined Benefit Plans $ $ $
SERP's and Defined Benefit Plans
Employee Benefits
Summary of the status of the funding of the plans, change in plan assets and items not yet recognized as a component of net periodic pension expense	SERP’s Defined Benefit Plans 2015 2014 2015 2014 (in millions) (in millions) Change in benefit obligation Benefit obligation at beginning of year $ $ $ $ Service cost Interest cost Actuarial loss (gain) Benefits paid Plan amendments — — Benefit obligation at end of year $ $ $ $ Change in plan assets Fair value of plan assets at beginning of year N/A N/A Actual return on plan assets N/A N/A Employer contributions N/A N/A Benefits paid N/A N/A Fair value of plan assets at end of year N/A N/A $ $ Funded status Funded status of the plans $ $ $ $ Items not yet recognized as component of net periodic pension expense Unrecognized net actuarial losses $ $ $ $ Unamortized prior service (credit) cost — $ $ $ $
Schedule of amounts recognized in the statement of financial position	SERP’s Defined Benefit Plans 2015 2014 2015 2014 (in millions) (in millions) Amounts recognized in the statement of financial position Current liabilities $ $ $ — $ — Noncurrent liabilities Accumulated other comprehensive loss Net amount recognized $ $ $ $
Schedule of details of net periodic pension (credit) expense	SERP’s Defined Benefit Plans Year Ended December 31, Year Ended December 31, 2015 2014 2013 2015 2014 2013 (in millions) (in millions) Service cost $ $ $ $ $ $ Interest cost Expected return on plan assets — — — Prior service (credit) cost Amortization of net loss $ $ $ $ $ $
Schedule of assumptions used to determine net periodic benefit cost	SERP’s Defined Benefit Plans Year Ended December 31, Year Ended December 31, 2015 2014 2013 2015 2014 2013 Weighted average assumptions to determine net cost Discount rate % % % % % % Expected long-term rate of return on plan assets N/A N/A N/A % % % Rate of compensation increase % % % N/A N/A N/A
Schedule of assumptions used to determine the benefit obligation	SERP’s Defined Benefit Plans December 31, December 31, 2015 2014 2015 2014 Weighted average assumptions to determine benefit obligations Discount rate % % % % Expected long-term rate of return on plan assets N/A N/A % % Rate of compensation increase % % N/A N/A
Defined Benefit Plans
Employee Benefits
Schedule of information for defined benefit plans with an accumulated benefit obligation and projected benefit obligation in excess of plan assets	Year Ended December 31, 2015 2014 (in millions) Information for defined benefit plans with an accumulated benefit obligation and projected benefit obligation in excess of plan assets Accumulated benefit obligation $ $ Projected benefit obligation Fair value of plan assets
Schedule of weighted-average asset allocations of the Company's Defined Benefit Plans by asset category	December 31, 2015 2014 Plan Assets Equity securities % % Debt securities % % Other % % Total % %
Schedule of fair value measurements of Defined Benefit Plan assets	Level 1 Level 2 Level 3 Total (in millions) December 31, 2015: Common stock (1) $ $ — $ — $ U.S. government, state, and agency — — Corporate debt securities (2) — — Mutual funds (3) — Interest and non-interest bearing cash — — $ $ $ — $ December 31, 2014: Common stock (1) $ $ — $ — $ U.S. government, state, and agency — — Corporate debt securities (2) — — Mutual funds (3) — Interest and non-interest bearing cash — — $ $ $ — $ (1) Comprised primarily of securities of large domestic and foreign companies. Valued at the closing price reported on the active market on which the individual securities are traded. (2) Valued using a combination of inputs including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two ‑sided markets, benchmark securities, bids, offers, and reference data. (3) Level 1 assets are comprised of exchange traded funds, money market funds, and stock and bond funds. These assets are valued at closing price for exchange traded funds and Net Asset Value (NAV) for open ‑end and closed ‑end mutual funds. Level 2 assets are comprised of fixed income funds and pooled separate accounts and are valued at the net asset value per unit based on either the observable net asset value of the underlying investment or the net asset value of the underlying pool of securities.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2015
Equity
Schedule of accumulated other comprehensive loss	Unrealized Pension and Accumulated Foreign Currency Gain (Loss) on Postretirement Other Translation Investments, Benefit Adjustments, Comprehensive Loss Net of Tax Net of Tax Loss (in millions) Balance as of January 1, 2015 $ $ $ $ Current-period change Balance as of December 31, 2015 $ $ — $ $

Other Income, net (Tables)

Other Income, net (Tables)	12 Months Ended
	Dec. 31, 2015
Other Income, net
Schedule of significant components of other income (expense), net	Year Ended December 31, 2015 2014 2013 (in millions) Investment income from life insurance policies $ $ $ Interest expense on life insurance policy loans Gain on acquisition achieved in stages — — Life insurance policy cost of insurance Income from life insurance policy redemptions — Foreign currency transaction gains (losses) — Rental income Interest income Equity in earnings of unconsolidated entities — All other, net $ $ $

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies.
Schedule of future minimum payments under the non-cancelable leases	Future minimum payments, by year and in the aggregate, under the non ‑cancelable leases with initial or remaining terms of one year or more, consisted of the following as of December 31, 2015: Operating Leases (in millions) 2016 $ 2017 2018 2019 2020 Thereafter $

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share
Computation of basic and diluted earnings per share	Year Ended December 31, 2015 2014 2013 (in millions, except share and per share amounts) Numerator: Net income attributable to Reliance $ $ $ Denominator: Weighted average shares outstanding Dilutive effect of stock-based awards Weighted average diluted shares outstanding Earnings per share attributable to Reliance stockholders: Diluted $ $ $ Basic $ $ $

Segment Information ( Tables)

Segment Information ( Tables)	12 Months Ended
	Dec. 31, 2015
Segment Information
Schedule of sales, by products or services	2015 2014 2013 Carbon steel % % % Aluminum % % % Stainless steel % % % Alloy steel % % % Toll processing % % % Other % % % Total % % %
Summary of the Company's operations by geographic location based on where sales originated from	United States Foreign Countries Total (in millions) Year Ended December 31, 2015 Net sales $ $ $ Long-lived assets Year Ended December 31, 2014 Net sales Long-lived assets Year Ended December 31, 2013 Net sales Long-lived assets

Condensed Consolidating Finan43

Condensed Consolidating Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2015
Condensed Consolidating Financial Statements
Schedule of Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet As of December 31, 2015 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Assets Cash and cash equivalents $ $ $ $ — $ Accounts receivable, net Inventories — Income taxes receivable — — Other current assets Total current assets Investments in subsidiaries — — Property, plant and equipment, net — Goodwill — Intangible assets, net — Intercompany receivables — Other assets — Total assets $ $ $ $ $ Liabilities & Equity Accounts payable $ $ $ $ $ Accrued compensation and retirement costs — Other current liabilities Current maturities of long-term debt and short-term borrowings — — Total current liabilities Long-term debt — Intercompany borrowings — — Other long-term liabilities — Total Reliance stockholders’ equity Noncontrolling interests — — Total equity Total liabilities and equity $ $ $ $ $ Condensed Consolidating Balance Sheet As of December 31, 2014 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Assets Cash and cash equivalents $ $ $ $ — $ Accounts receivable, net Inventories — Other current assets Total current assets Investments in subsidiaries — — Property, plant and equipment, net — Goodwill — Intangible assets, net — Intercompany receivables — Other assets — Total assets $ $ $ $ $ Liabilities & Equity Accounts payable $ $ $ $ $ Accrued compensation and retirement costs — Other current liabilities Deferred income taxes — — Current maturities of long-term debt and short-term borrowings — — Total current liabilities Long-term debt — Intercompany borrowings — — Other long-term liabilities Total Reliance stockholders’ equity Noncontrolling interests — — Total equity Total liabilities and equity $ $ $ $ $
Schedule of Condensed Consolidating Statement of Comprehensive Income	Condensed Consolidating Statement of Comprehensive Income For the year ended December 31, 2015 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Net sales $ $ $ $ $ Costs and expenses: Cost of sales (exclusive of depreciation and amortization shown below) Warehouse, delivery, selling, general and administrative Depreciation and amortization — Impairment of long-lived assets — — Operating income Other income (expense): Interest Other income (expense), net (Loss) income before equity in earnings of subsidiaries and income taxes — Equity in earnings of subsidiaries — — Income before income taxes Income tax (benefit) provision — Net income Less: Net income attributable to noncontrolling interests — — — Net income attributable to Reliance $ $ $ $ $ Comprehensive income (loss) attributable to Reliance $ $ $ $ $ Condensed Consolidating Statement of Comprehensive Income For the year ended December 31, 2014 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Net sales $ $ $ $ $ Costs and expenses: Cost of sales (exclusive of depreciation and amortization shown below) Warehouse, delivery, selling, general and administrative Depreciation and amortization — Operating income Other income (expense): Interest Other income (expense), net Income before equity in earnings of subsidiaries and income taxes — Equity in earnings of subsidiaries — — Income before income taxes Income tax (benefit) provision — Net income Less: Net income attributable to noncontrolling interests — — Net income attributable to Reliance $ $ $ $ $ Comprehensive income attributable to Reliance $ $ $ $ $ Condensed Consolidating Statement of Comprehensive Income For the year ended December 31, 2013 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Net sales $ $ $ $ $ Costs and expenses: Cost of sales (exclusive of depreciation and amortization shown below) Warehouse, delivery, selling, general and administrative Depreciation and amortization — Impairment of long-lived assets — — — Operating (loss) income Other income (expense): Interest Other income, net (Loss) income before equity in earnings of subsidiaries and income taxes — Equity in earnings of subsidiaries — — Income before income taxes Income tax (benefit) provision — Net income Less: Net income attributable to noncontrolling interests — — Net income attributable to Reliance $ $ $ $ $ Comprehensive income attributable to Reliance $ $ $ $ $
Schedule of Condensed Consolidating Cash Flow Statement	Condensed Consolidating Cash Flow Statement For the year ended December 31, 2015 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Net cash provided by operating activities $ $ $ $ — $ Investing activities: Purchases of property, plant and equipment — Net repayments from subsidiaries — — — Other investing activities, net — Net cash provided by (used in) investing activities Financing activities: Net short-term debt borrowings — — — Proceeds from long-term debt borrowings — — — Principal payments on long-term debt — — Dividends and dividend equivalents paid — — — Share repurchases — — — Net intercompany repayments — — Other financing activities, net — — Net cash used in financing activities Effect of exchange rate changes on cash and cash equivalents — — — (Decrease) increase in cash and cash equivalents — Cash and cash equivalents at beginning of year — Cash and cash equivalents at end of year $ $ $ $ — $ Condensed Consolidating Cash Flow Statement For the year ended December 31, 2014 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Net cash provided by operating activities $ $ $ $ — $ Investing activities: Purchases of property, plant and equipment — Acquisitions, net of cash acquired - — Net advances to subsidiaries — — — Other investing activities, net — Net cash used in investing activities Financing activities: Net short-term debt borrowings — — — Proceeds from long-term debt borrowings — - — Principal payments on long-term debt — Dividends paid — — — Net intercompany borrowings — — Other financing activities, net — - Net cash provided by financing activities Effect of exchange rate changes on cash and cash equivalents — — — Increase (decrease) in cash and cash equivalents — Cash and cash equivalents at beginning of year — Cash and cash equivalents at end of year $ $ $ $ — $ Condensed Consolidating Cash Flow Statement For the year ended December 31, 2013 (in millions) Non- Guarantor Guarantor Consolidating Parent Subsidiaries Subsidiaries Adjustments Consolidated Net cash provided by operating activities $ $ $ $ — $ Investing activities: Purchases of property, plant and equipment — Acquisition, net of cash acquired — — — Net advances to subsidiaries — — — Other investing activities, net — Net cash used in investing activities Financing activities: Net short-term debt (repayments) borrowings — — Proceeds from long-term debt borrowings — — — Principal payments on long-term debt — Dividends paid — — — Net intercompany (repayments) borrowings — — Other financing activities, net — — Net cash provided by (used in) financing activities Effect of exchange rate changes on cash and cash equivalents — — — (Decrease) increase in cash and cash equivalents — Cash and cash equivalents at beginning of year — Cash and cash equivalents at end of year $ $ $ $ — $

Quarterly Financial Informati44

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information (Unaudited)
Summary of the unaudited quarterly results of operations	March 31, June 30, September 30, December 31, (in millions, except per share amounts) 2015: Net sales $ $ $ $ Cost of sales Gross profit (1) Net income Net income attributable to Reliance Earnings per share attributable to Reliance stockholders Diluted Basic 2014: Net sales $ $ $ $ Cost of sales Gross profit (1) Net income Net income attributable to Reliance Earnings per common share attributable to Reliance stockholders Diluted Basic Gross profit, calculated as net sales less cost of sales, is a non ‑GAAP financial measure as it excludes depreciation and amortization expense associated with the corresponding sales. The majority of our orders are basic distribution with no processing services performed. For the remainder of our sales orders, we perform “first ‑stage” processing, which is generally not labor intensive as we are simply cutting the metal to size. Because of this, the amount of related labor and overhead, including depreciation and amortization, are not significant and are excluded from our cost of sales. Therefore, our cost of sales is primarily comprised of the cost of the material we sell. We use gross profit as shown above as a measure of operating performance. Gross profit is an important operating and financial measure, as fluctuations in gross profit can have a significant impact on our earnings. Gross profit, as presented, is not necessarily comparable with similarly titled measures for other companies.

Summary of Significant Accoun45

Summary of Significant Accounting Policies - Business, Fair Value, and Goodwill (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)item	Dec. 31, 2013USD ($)
Summary of Significant Accounting Policies
Minimum number of locations in which company operates metal service network | item	300
Number of states in which the company operates metal service center network | item	39
Number of countries in which entity operates | item	12
Minimum number of metal products distributes by the company | item	100,000
Fair Values of Financial Instruments
Carrying value, before deducting unamortized discount or premiums | $	$ 1,942.1	$ 2,319.1
Carrying value | $	$ 1,942.1
Goodwill Policy
Number of operating segments | item	1
Number of reportable segments | item	1	1
Impairment of goodwill | $	$ 0	$ 0	$ 0
Senior Unsecured Notes
Fair Values of Financial Instruments
Carrying value, before deducting unamortized discount or premiums | $	1,100
Fair value | $	1,080	1,160
Carrying value | $	$ 1,090	$ 1,090

Summary of Significant Accoun46

Summary of Significant Accounting Policies- Long-Lived Assets, Revenue Recognition and Other (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment
Impairment loss of property, plant and equipment	$ 17,700,000
Intangibles
Impairment losses of intangible assets, finite-lived	14,400,000
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	21,200,000		$ 14,900,000
Impairment of long-lived assets		$ 0
Revenue Recognition
Shipping and handling costs included in operating expenses	319,100,000	312,600,000	284,800,000
Share-Based Compensation
Stock-based compensation expense	$ 21,300,000	22,800,000	26,000,000
Foreign Currencies
Net gain (loss) resulting from foreign currency transactions		$ 3,100,000	$ (2,600,000)
Buildings | Minimum
Property, Plant and Equipment
Useful lives	5 years
Buildings | Maximum
Property, Plant and Equipment
Useful lives	50 years
Machinery and equipment | Minimum
Property, Plant and Equipment
Useful lives	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment
Useful lives	20 years

Summary of Significant Accoun47

Summary of Significant Accounting Policies - Accounting Standards (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Impact of Recently Issued Accounting Standards—Adopted
Percentage of LIFO inventory	80.00%
Reduction in intangible assets, net	$ (1,125.4)	$ (1,227.4)
Reduction in long term debt	$ (1,427.9)	(2,208.1)
Accounting Standards Update 201503 Member | New Accounting Pronouncement, Early Adoption, Effect
Impact of Recently Issued Accounting Standards—Adopted
Reduction in intangible assets, net		14.2
Reduction in long term debt		$ 14.2

Acquisitions (Details)

Acquisitions (Details) $ in Millions	May. 16, 2014USD ($)	Apr. 30, 2013USD ($)item	Apr. 12, 2013USD ($)item	Dec. 31, 2015USD ($)item	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2014USD ($)	Aug. 01, 2014countryitem	Apr. 04, 2013USD ($)	Dec. 31, 2012USD ($)
Acquisitions
Net sales				$ 2,026.2	$ 2,286.2	$ 2,423.7	$ 2,614.4	$ 2,576.7	$ 2,705.1	$ 2,616.8	$ 2,553	$ 9,350.5	$ 10,451.6	$ 9,223.8
Proceeds from sale of business, net													26.2	11.9
Number of countries of the acquiree entity | item				12								12
Allocation of the total purchase price of the acquisitions to the fair value of the assets acquired and liabilities assumed
Goodwill				$ 1,724.8				1,736.4				$ 1,724.8	1,736.4	1,691.6	$ 1,736.4			$ 1,314.6
Summary purchase price allocation information for all acquisitions
Tax deductible goodwill amount				$ 558.7								558.7
Trade names
Allocation of the total purchase price of the acquisitions to the fair value of the assets acquired and liabilities assumed
Intangible assets not subject to amortization								39					39	206.8	39
Summary purchase price allocation information for all acquisitions
Intangible assets not subject to amortization								39					39	206.8	39
Customer relationships
Summary purchase price allocation information for all acquisitions
Intangible assets acquired subject to amortization													$ 37.3	$ 135.3
Weighted average lives of identifiable intangible assets													13 years 7 months 6 days	12 years 6 months
Unsecured revolving credit facility
Acquisitions
Maximum borrowing capacity of the revolving credit facility			$ 1,500														$ 1,500
Term loan expiring April 4, 2018
Acquisitions
Face amount of debt, proceeds from which is used to fund transaction			500
Senior unsecured notes due April 15, 2023
Acquisitions
Face amount of debt, proceeds from which is used to fund transaction			500
NIS
Acquisitions
Net sales												19.9
AMS
Acquisitions
Net sales												257.6
Number of countries of the acquiree entity | country																4
AMS | Minimum
Acquisitions
Number of countries in which entity's customers operate | item																40
Travel Main
Acquisitions
Number of real estate properties of acquired entity which were leased by subsidiaries of reporting entity | item		18
Total transaction value		$ 78.9
Value of debt assumed		$ 43.8
Metals USA
Acquisitions
Net sales												1,540
Total transaction value			1,250
Value of debt assumed			$ 486.1
Number of service centers acquired | item			41
Purchase price			$ 766.8
Acquired debt not refinanced through proceeds from debt			12.3
Transaction costs														$ 11.4
Allocation of the total purchase price of the acquisitions to the fair value of the assets acquired and liabilities assumed
Cash			3.2
Accounts receivable			206
Inventories			379.5
Property, plant and equipment			242.6
Goodwill			382.7
Intangible assets subject to amortization			137.6
Intangible assets not subject to amortization			203
Other current and long-term assets			9.1
Total assets acquired			1,563.7
Deferred taxes			184.4
Current and long-term debt			486.1
Other current and long-term liabilities			126.4
Total liabilities assumed			796.9
Net assets acquired			766.8
Summary purchase price allocation information for all acquisitions
Intangible assets not subject to amortization			$ 203
Metals USA | Non-core roofing business | Disposal Group, Not Discontinued Operations
Acquisitions
Net sales													$ 9.6		25.4
Proceeds from sale of business, net	$ 26.2
Pre-tax loss on sale of business	1.1
Fox
Acquisitions
Net sales												21.6
Haskins Steel Co., Inc. (Haskins Steel)
Acquisitions
Net sales												$ 26
2014 acquisitions
Allocation of the total purchase price of the acquisitions to the fair value of the assets acquired and liabilities assumed
Cash								1.6					1.6		1.6
Accounts receivable								67.1					67.1		67.1
Inventories								89.2					89.2		89.2
Property, plant and equipment								23.4					23.4		23.4
Goodwill								51.3					51.3		51.3
Intangible assets subject to amortization								37.5					37.5		37.5
Intangible assets not subject to amortization								39					39		39
Other current and long-term assets								1.5					1.5		1.5
Total assets acquired								310.6					310.6		310.6
Deferred taxes								9					9		9
Current and long-term debt								39.2					39.2		39.2
Other current and long-term liabilities								53.1					53.1		53.1
Total liabilities assumed								101.3					101.3		101.3
Net assets acquired								209.3					209.3		209.3
Summary purchase price allocation information for all acquisitions
Intangible assets not subject to amortization								39					39		39
Tax deductible goodwill amount								$ 20.3					$ 20.3		$ 20.3
2013 acquisitions
Summary purchase price allocation information for all acquisitions
Tax deductible goodwill amount														$ 107.7
Businesses Sold
Summary purchase price allocation information for all acquisitions
Tax deductible goodwill amount	$ 17.2

Joint Ventures and Noncontrol49

Joint Ventures and Noncontrolling Interests (Details) $ in Millions	Oct. 01, 2014USD ($)	Dec. 31, 2015item	Dec. 15, 2015	Sep. 11, 2015	Nov. 03, 2014
Joint Ventures and Noncontrolling Interests
Number of joint ventures in which the entity has a noncontrolling interest | item		2
Valex Corp. | South Korea
Joint Ventures and Noncontrolling Interests
Ownership percentage in investments other than equity method investment		95.00%
Indiana Pickling & Processing Company
Joint Ventures and Noncontrolling Interests
Ownership percentage in investments other than equity method investment		56.00%
Feralloy Processing Company
Joint Ventures and Noncontrolling Interests
Ownership percentage in investments other than equity method investment		51.00%
FP Structural Solutions
Joint Ventures and Noncontrolling Interests
Ownership percentage in investments other than equity method investment		70.00%
Eagle Steel Products, Inc.
Joint Ventures and Noncontrolling Interests
Ownership percentage in equity method investment		45.00%
Acero Prime S. de R.L. de C.V.
Joint Ventures and Noncontrolling Interests
Ownership percentage in equity method investment		60.00%			40.00%
Gain on equity interest	$ 11.4
Total purchase price	57.6
Noncontrolling interest	$ 22.6
Ownership percentage in investments other than equity method investment		60.00%
Oregon Feralloy Partners LLC
Joint Ventures and Noncontrolling Interests
Ownership percentage in equity method investment		40.00%
Minimum
Joint Ventures and Noncontrolling Interests
Ownership percentage in equity method investment		20.00%
Percentage of ownership for consolidation of financial statements		50.00%
Minimum | Valex Corp.
Joint Ventures and Noncontrolling Interests
Ownership percentage in consolidated subsidiary			97.00%
Minimum | Valex Corp. | People's Republic of China
Joint Ventures and Noncontrolling Interests
Ownership percentage in consolidated subsidiary				92.00%
Maximum
Joint Ventures and Noncontrolling Interests
Ownership percentage in equity method investment		50.00%
Maximum | Valex Corp.
Joint Ventures and Noncontrolling Interests
Ownership percentage in consolidated subsidiary		100.00%
Maximum | Valex Corp. | People's Republic of China
Joint Ventures and Noncontrolling Interests
Ownership percentage in consolidated subsidiary		100.00%

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Inventories
LIFO reserve	$ (26.1)	$ (26.1)	$ 143.1
Inventories stated on the FIFO method	304.6	304.6	305.9
Change in LIFO valuation reserve		(186.1)	$ 54.5	$ (50.2)
Lower of cost or market charge related to inventories measured using the LIFO method	$ 69.1
Increase in cost of sale due to liquidation of LIFO inventory quantities		$ 38.7

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Change in the carrying amount of goodwill
Balance at the beginning of the period	$ 1,736.4	$ 1,691.6	$ 1,314.6
Acquisitions	0.4	51.3	382.4
Consolidation of a joint venture entity		15.2
Purchase price allocation adjustments	(0.4)	2.1
Sale of business		(17.1)
Effect of foreign currency translation	(11.6)	(6.7)	(5.4)
Balance at the end of the period	1,724.8	$ 1,736.4	$ 1,691.6
Accumulated impairment losses	$ 0

Intangible Assets, net (Details

Intangible Assets, net (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Intangible assets subject to amortization:
Intangible assets subject to amortization, Gross Carrying Amount	$ 674.7	$ 712.3
Intangible assets subject to amortization, Accumulated Amortization	(299.6)	(262.6)
Intangible assets
Intangible assets, Gross Carrying Amount	1,425	1,490
Changes in intangible assets due to foreign currency translation losses	13.5
Impairment losses of intangible assets, indefinte-lived	21.2		$ 14.9
Impairment losses of intangible assets, finite-lived	14.4
Impairment losses of intangible assets		0
Amortization expense for intangible assets	53.7	56.7	$ 54.9
Summary of estimated aggregate amortization expense for each of the next five years
2,016	49.3
2,017	45.1
2,018	40.8
2,019	40.6
2,020	40.7
Trade names
Intangible assets not subject to amortization:
Intangible assets not subject to amortization, Gross Carrying Amount	$ 750.3	777.7
Intangible assets
Number of intangible assets subject to impairment | item	5
Impairment losses of intangible assets, indefinte-lived	$ 21.2
Covenants not to compete
Intangible assets subject to amortization:
Weighted average amortizable life in years	4 years 4 months 24 days
Intangible assets subject to amortization, Gross Carrying Amount	$ 1.3	2.3
Intangible assets subject to amortization, Accumulated Amortization	$ (1)	(1.7)
Customer lists/relationships
Intangible assets subject to amortization:
Weighted average amortizable life in years	14 years 8 months 12 days
Intangible assets subject to amortization, Gross Carrying Amount	$ 659	694.7
Intangible assets subject to amortization, Accumulated Amortization	$ (285.7)	(249.3)
Intangible assets
Number of intangible assets subject to impairment | item	2
Impairment losses of intangible assets, finite-lived	$ 14.4
Software - internal use
Intangible assets subject to amortization:
Weighted average amortizable life in years	10 years
Intangible assets subject to amortization, Gross Carrying Amount	$ 8.1	8.1
Intangible assets subject to amortization, Accumulated Amortization	$ (7.9)	(7.1)
Other
Intangible assets subject to amortization:
Weighted average amortizable life in years	5 years 3 months 18 days
Intangible assets subject to amortization, Gross Carrying Amount	$ 6.3	7.2
Intangible assets subject to amortization, Accumulated Amortization	$ (5)	$ (4.5)

Cash Surrender Value of Life 53

Cash Surrender Value of Life Insurance Policies, net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Information about cash surrender value of life insurance policies
Cash surrender value of all life insurance policies, net of loans and related accrued interest	$ 45.8	$ 46.4
Borrowings available	0	0
Borrowed portion
Information about cash surrender value of life insurance policies
Amount of borrowed funds used to pay premiums and accrued interest owed	47.9	44.5
Paid premiums and accrued interest on loans against policies	$ 60.4	56
Earle M. Jorgensen Company ("EMJ") | Borrowed portion
Information about cash surrender value of life insurance policies
Interest on borrowings against cash surrender value of certain life insurance policies (as a percent)	11.76%
Minimum rate at which the portion of the policy cash surrender value earns interest and dividend income (as a percent)	11.26%
Loans and accrued interest outstanding on EMJ's life insurance policies	$ 535.2	$ 493.2
Earle M. Jorgensen Company ("EMJ") | Unborrowed portion
Information about cash surrender value of life insurance policies
Minimum rate at which the portion of the policy cash surrender value earns interest and dividend income (as a percent)	4.00%

Debt - Summary (Details)

Debt - Summary (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Debt
Total	$ 1,942.1	$ 2,319.1
Less: unamortized discount and debt issuance cost	(13.4)	(17.1)
Less: amounts due within one year and short-term borrowings	(500.8)	(93.9)
Total long-term debt	1,427.9	2,208.1
Unsecured revolving credit facility due April 4, 2018
Debt
Total	332	675
Unsecured term loan due from March 31, 2016 to April 4, 2018
Debt
Total	398.8	442.5
Senior unsecured notes due November 15, 2016
Debt
Total	350	350
Senior unsecured notes due April 15, 2023
Debt
Total	500	500
Senior unsecured notes due November 15, 2036
Debt
Total	250	250
Other notes and revolving credit facilities
Debt
Total	$ 111.3	$ 101.6

Debt - Other (Details)

Debt - Other (Details) $ in Millions	Apr. 12, 2013USD ($)	Apr. 04, 2013USD ($)item	Nov. 30, 2006USD ($)item	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Debt
Debt outstanding				$ 1,942.1	$ 2,319.1
Ownership interest in domestic subsidiaries (as a percent)				100.00%
Aggregate maturities of long-term debt for each of the next five years and thereafter
2,016				$ 500.8
2,017				50.5
2,018				631.3
2,019				0.6
2,020				0.6
Thereafter				758.3
Total				$ 1,942.1
Third Amended and Restated Credit Agreement
Debt
Number of banks as lenders | item		26
Interest coverage ratio, actual				7
Minimum interest coverage ratio required, debt covenant				3
Leverage ratio, actual (as a percent)				33.60%
Maximum leverage ratio required under financial covenant (as a percent)				60.00%
Unsecured revolving credit facility
Debt
Maximum borrowing capacity of the credit facility	$ 1,500	$ 1,500
Commitment fee on unused portion of revolving credit facility (as a percent)				0.20%
Weighted average fixed interest rate (as a percent)				1.81%	1.42%
Letters of credit outstanding				$ 57.4
Additional amount of letters of credit available to be issued				$ 1,110
Unsecured revolving credit facility | Third Amended and Restated Credit Agreement
Debt
Increased maximum borrowing capacity under the credit subject to approval of the lenders and certain other conditions		500
Unsecured revolving credit facility | LIBOR
Debt
Variable interest rate				LIBOR
Interest rate added to base (as a percent)				1.25%
Unsecured revolving credit facility | Bank prime rate
Debt
Variable interest rate				bank prime rate
Interest rate added to base (as a percent)				0.25%
Senior Unsecured Notes
Debt
Percentage of principal amount at which the notes may be required to be repurchased in event of a change of control and a downgrade of the entity's credit rating				101.00%
Senior unsecured notes issued November 20, 2006
Debt
Issuance of debt			$ 600
Number of tranches comprising the debt issuance | item			2
Senior unsecured notes due November 15, 2016
Debt
Debt outstanding				$ 350	$ 350
Interest rate (as a percent)			6.20%
Issuance of debt			$ 350
Senior unsecured notes due November 15, 2036
Debt
Debt outstanding				250	250
Interest rate (as a percent)			6.85%
Issuance of debt			$ 250
Senior unsecured notes due April 15, 2023
Debt
Debt outstanding				$ 500	$ 500
Interest rate (as a percent)	4.50%
Issuance of debt	$ 500
Unsecured Revolving Credit Facility and Senior Unsecured Notes
Debt
Ownership interest in domestic subsidiaries (as a percent)				100.00%
Minimum percentage of consolidated EBITDA required for the entity and subsidiary guarantors				80.00%
Minimum percentage of consolidated tangible assets required for the entity and subsidiary guarantors				80.00%
Actual percentage of total consolidated EBITDA for the parent and subsidiary guarantors				91.00%
Actual percentage of consolidated tangible assets owned by the entity and subsidiary guarantors				83.00%
Term loan expiring April 4, 2018
Debt
Annual amortization of term loan thereafter until March 2018 (as a percent)				10.00%
Weighted average fixed interest rate (as a percent)				1.67%	1.42%
Term loan expiring April 4, 2018 | Third Amended and Restated Credit Agreement
Debt
Issuance of debt		$ 500
Other separate revolving credit facilities
Debt
Maximum borrowing capacity of the credit facility				$ 76.2
Lines of credit				59.9	$ 48.3
IRB | Metals USA
Debt
Debt outstanding				11	11.5
Mortgage obligations | Travel Main
Debt
Debt outstanding				$ 40.4	$ 41.8
Interest rate (as a percent)				6.40%
Lump sum payment on maturity				$ 39.2

Income Taxes - Summary, Reconci

Income Taxes - Summary, Reconciliation and Other (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal	$ 129.5	$ 153.2	$ 121.4
State	21.3	25.2	19.1
Foreign	8.8	9.8	10
Total	159.6	188.2	150.5
Deferred:
Federal	(11.7)	(18.7)	1.5
State	(4.5)	(2.2)	1.5
Foreign	(0.9)	2.7	0.1
Total	(17.1)	(18.2)	3.1
Income tax provision	142.5	170	153.6
Components of U.S. and international income before income taxes
US	427.3	488.5	438.4
International	31.4	57.8	39.9
Income before income taxes	$ 458.7	$ 546.3	$ 478.3
Reconciliation of income tax at the U.S. federal statutory tax rates to income tax expense
Income tax at U.S. federal statutory tax rate (as a percent)	35.00%	35.00%	35.00%
State income tax, net of federal tax effect (as a percent)	2.00%	2.60%	2.90%
Foreign earnings taxed at lower rates	(0.80%)	(1.90%)	(1.30%)
Net effect of life insurance policies (as a percent)	(3.60%)	(2.60%)	(3.20%)
Net effect of changes in unrecognized tax benefits (as a percent)	0.70%	0.20%	(0.50%)
Domestic production activity deduction (as a percent)	(2.00%)	(1.70%)	(1.10%)
Other, net (as a percent)	(0.20%)	(0.50%)	0.30%
Effective tax rate (as a percent)	31.10%	31.10%	32.10%
Deferred tax assets:
Accrued expenses not currently deductible for tax	$ 75	$ 85
Inventory costs capitalized for tax purposes	27.1	32.3
Share-based compensation	17.1	18.5
Allowance for doubtful accounts	5.5	6.6
Tax credit carryforwards	1.1	1.1
Net operating loss carryforwards	5.4	2.4
Total deferred tax assets	131.2	145.9
Deferred tax liabilities:
Property, plant and equipment, net	(245.5)	(258)
Goodwill and other intangible assets	(458.2)	(474.6)
LIFO inventories	(34)	(36.3)
Deferred income	(13.4)	(19.6)
Other	(7.2)	(3.9)
Total deferred tax liabilities	(758.3)	(792.4)
Net deferred tax liabilities	$ (627.1)	$ (646.5)

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Taxes
Unremitted earnings of foreign subsidiaries	$ 187.7
Reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits
Balance at the beginning of the period	20.2	$ 19.4	$ 15.9
Assumed in acquisition			5
Increases in tax positions for prior years	0.3	0.3	1.1
Decreases in tax positions for prior years	(1.7)	(0.4)	(2.1)
Increases in tax positions for current year	4.2	3.8	3.6
Settlements	(0.1)	(0.1)	(3.5)
Lapses in statutes-of-limitation periods		(2.8)	(0.6)
Balance at the end of the period	22.9	20.2	$ 19.4
Unrecognized tax benefits, if recognized, would affect the effective tax rate	22.9
Accrued interest and penalties on uncertain tax positions	1.3	$ 1.2
State
Income Taxes
Operating Loss Carryforwards	$ 7.4

Stock-Based Compensation Plans

Stock-Based Compensation Plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stock-Based Compensation Plans
Shares authorized for future grant	2,251,507
Additional share-based compensation disclosures
Proceed from option exercises	$ 15.1	$ 28.8	$ 70.1
Stock options
Number of shares
Outstanding at the beginning of the period (in shares)	1,327,412	1,937,241	3,405,500
Exercised (in shares)	(390,606)	(593,204)	(1,437,053)
Expired or forfeited (in shares)	(2,481)	(16,625)	(31,206)
Outstanding at the end of the period (in shares)	934,325	1,327,412	1,937,241
Exercisable at the end of the period (in shares)	934,325
Weighted Average Exercise Price
Outstanding at the beginning of the period, Weighted Average Exercise Price (in dollars per share)	$ 49.66	$ 49.35	$ 49.12
Exercised, Weighted Average Exercise Price (in dollars per share)	48.19	48.58	48.78
Expired or forfeited, Weighted Average Exercise Price (in dollars per share)	51.96	52.13	51.37
Outstanding at the end of the period, Weighted Average Exercise Price (in dollars per share)	50.26	$ 49.66	$ 49.35
Exercisable at the end of the period, Weighted Average Exercise Price (in dollars per share)	$ 50.26
Weighted Average Remaining Contractual Term
Weighted Average Remaining Contractual Term, stock options outstanding (in years)	1 year 9 months 18 days
Weighted Average Remaining Contractual Term, stock options exercisable (in years)	1 year 9 months 18 days
Aggregate Intrinsic Value (In millions)
Aggregate Intrinsic Value, options outstanding	$ 7.4
Aggregate Intrinsic Value, options exercisable	$ 7.4
Vesting period (in years)	4 years
Award expiration term (in years)	7 years
Changes in non-vested stock options
Non-vested at the beginning of the period (in shares)	222,413
Forfeited (in shares)	(625)
Vested (in shares)	(221,788)
Non-vested at the end of the period (in shares)		222,413
Weighted Average Grant Date Fair Value
Non-vested options at the beginning of the period (in dollars per share)	$ 26.98
Forfeited (in dollars per shares)	26.98
Vested (in dollars per shares)	$ 26.98
Non-vested options at the end of the period (in dollars per shares)		$ 26.98
Additional share-based compensation disclosures
Proceed from option exercises	$ 15.1	$ 28.8	$ 70.1
Total intrinsic value of all options exercised	4.8	13.5	29
Tax benefit realized from option exercises	$ 7.6	$ 10.7	$ 11.5
Stock options | Non-employee director
Number of shares
Outstanding at the end of the period (in shares)	102,000
Aggregate Intrinsic Value (In millions)
Vesting period (in years)	1 year
Options with ten-year term | Non-employee director
Aggregate Intrinsic Value (In millions)
Award expiration term (in years)	10 years

Share-Based Compensation Plan59

Share-Based Compensation Plans - Outstanding and Exercisable Options (Details)	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Stock Option Plans
Range of exercise price, lower limit (in dollars per share)	$ 33
Range of exercise price, upper limit (in dollars per share)	$ 67
Options Outstanding (in shares) | shares	934,325
Options Outstanding, Weighted Average Remaining Contractual Life (In Years)	1 year 9 months 18 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 50.26
Options Exercisable (in shares) | shares	934,325
Weighted Average Exercise Price of Options Exercisable (in dollars per share)	$ 50.26
Range of Exercise Price $33 - $38
Stock Option Plans
Range of exercise price, lower limit (in dollars per share)	33
Range of exercise price, upper limit (in dollars per share)	$ 38
Options Outstanding (in shares) | shares	71,000
Options Outstanding, Weighted Average Remaining Contractual Life (In Years)	1 year 1 month 6 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 34.79
Options Exercisable (in shares) | shares	71,000
Weighted Average Exercise Price of Options Exercisable (in dollars per share)	$ 34.79
Range of Exercise Price $42 - $45
Stock Option Plans
Range of exercise price, lower limit (in dollars per share)	42
Range of exercise price, upper limit (in dollars per share)	$ 45
Options Outstanding (in shares) | shares	312,425
Options Outstanding, Weighted Average Remaining Contractual Life (In Years)	1 year 4 months 24 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 43.01
Options Exercisable (in shares) | shares	312,425
Weighted Average Exercise Price of Options Exercisable (in dollars per share)	$ 43.01
Range of Exercise Price $55 - $56
Stock Option Plans
Range of exercise price, lower limit (in dollars per share)	55
Range of exercise price, upper limit (in dollars per share)	$ 56
Options Outstanding (in shares) | shares	508,900
Options Outstanding, Weighted Average Remaining Contractual Life (In Years)	2 years 1 month 6 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 55.73
Options Exercisable (in shares) | shares	508,900
Weighted Average Exercise Price of Options Exercisable (in dollars per share)	$ 55.73
Range of Exercise Price $61 - $67
Stock Option Plans
Range of exercise price, lower limit (in dollars per share)	61
Range of exercise price, upper limit (in dollars per share)	$ 67
Options Outstanding (in shares) | shares	42,000
Options Outstanding, Weighted Average Remaining Contractual Life (In Years)	2 years
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 64.16
Options Exercisable (in shares) | shares	42,000
Weighted Average Exercise Price of Options Exercisable (in dollars per share)	$ 64.16

Stock-Based Compensation Plan60

Stock-Based Compensation Plans - Restricted Stock (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2015	Dec. 31, 2014
Additional share-based compensation disclosures
Total unrecognized compensation cost						$ 27.3
Weighted average recognition period for unrecognized compensation cost (in years)	1 year 4 months 10 days
Restricted stock, 2015 grant
Restricted Shares
Awards granted (in shares)	507,760
The number of grants made during the period on the basis of service and performance criteria other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).						185,450
Fair value of restricted stock granted (in dollars per share)	$ 59.27
Share of common stock	1
Changes in unvested restricted stock grants and RSUs
Granted (in shares)	507,760
Weighted Average Grant Date Fair Value
Granted (in dollars per shares)	$ 59.27
Restricted stock, 2014 grant
Restricted Shares
Awards granted (in shares)		349,380
The number of grants made during the period on the basis of service and performance criteria other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).							136,162
Fair value of restricted stock granted (in dollars per share)		$ 71.15
Share of common stock		1
Changes in unvested restricted stock grants and RSUs
Granted (in shares)		349,380
Weighted Average Grant Date Fair Value
Granted (in dollars per shares)		$ 71.15
Restricted stock, 2013 grant
Restricted Shares
Awards granted (in shares)			327,780
The number of grants made during the period on the basis of service and performance criteria other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).			136,225
Fair value of restricted stock granted (in dollars per share)			$ 65.75
Share of common stock			1
Changes in unvested restricted stock grants and RSUs
Granted (in shares)			327,780
Weighted Average Grant Date Fair Value
Granted (in dollars per shares)			$ 65.75
Restricted stock, 2011 grant
Restricted Shares
Awards granted (in shares)				86,000
Fair value of restricted stock granted (in dollars per share)				$ 37.29
Changes in unvested restricted stock grants and RSUs
Granted (in shares)				86,000
Weighted Average Grant Date Fair Value
Granted (in dollars per shares)				$ 37.29
Restricted stock, 2010 grant
Restricted Shares
Awards granted (in shares)					61,000
Fair value of restricted stock granted (in dollars per share)					$ 41.24
Changes in unvested restricted stock grants and RSUs
Granted (in shares)					61,000
Weighted Average Grant Date Fair Value
Granted (in dollars per shares)					$ 41.24
Restricted stock and RSUs
Restricted Shares
Awards granted (in shares)	570,479
Fair value of restricted stock granted (in dollars per share)	$ 59.42
Number of shares unvested and outstanding	846,760	846,760				900,410	846,760
Changes in unvested restricted stock grants and RSUs
Unvested at the beginning of the period (in shares)	846,760
Granted (in shares)	570,479
Forfeited (in shares)	(106,205)
Vested (in shares)	(410,624)
Unvested at the end of the period (in shares)	900,410	846,760
Weighted Average Grant Date Fair Value
Unvested at the beginning of the period (in dollars per share)	$ 65.10
Granted (in dollars per shares)	59.42
Forfeited (in dollars per shares)	60.03
Vested (in dollars per shares)	62.56
Unvested at the end of the period (in dollars per shares)	$ 63.26	$ 65.10
Restricted stock 2010 and 2011 grant
Restricted Shares
Vesting period (in years)	5 years
Number of shares unvested and outstanding	17,200					17,200
Changes in unvested restricted stock grants and RSUs
Unvested at the end of the period (in shares)	17,200
Time-based | RSU's | Former CEO
Restricted Shares
Awards granted (in shares)	10,000
Changes in unvested restricted stock grants and RSUs
Granted (in shares)	10,000
Performance-based | RSU's
Restricted Shares
Performance target period (in years)	3 years
Performance-based | RSU's | Former CEO
Restricted Shares
Awards granted (in shares)	40,000
Changes in unvested restricted stock grants and RSUs
Granted (in shares)	40,000
Directors Equity Plan | Restricted stock
Restricted Shares
Awards granted (in shares)	12,719	11,830	12,418
Fair value of restricted stock granted (in dollars per share)	$ 66.03	$ 70.99	$ 67.63
Changes in unvested restricted stock grants and RSUs
Granted (in shares)	12,719	11,830	12,418
Weighted Average Grant Date Fair Value
Granted (in dollars per shares)	$ 66.03	$ 70.99	$ 67.63

Employee Benefits - Defined Con

Employee Benefits - Defined Contribution Plan Information (Details)	12 Months Ended
	Dec. 31, 2015
Defined Contribution Plans
Eligibility period of service	3 months
Vesting percentage per year	25.00%
Period after which vesting of the Company's contribution commences	1 year

Employee Benefits - Summary of

Employee Benefits - Summary of SERP's and Defined Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Employee Benefits
Balances in Deferred Compensation Plan	$ 16,000	$ 13,500
Value of assets for funding future payouts under the deferred compensation plan	15,300
Change in plan assets
Fair value of plan assets at beginning of year	72,400
Fair value of plan assets at end of year	70,200	72,400
Amounts recognized in the statement of financial position
Noncurrent liabilities	(103,800)	(102,200)
Supplemental Executive Retirement Plans
Change in benefit obligation
Benefit obligation at beginning of year	45,900	38,700
Service cost	1,000	900	$ 900
Interest cost	1,300	1,500
Actuarial (gain) loss	2,500	6,100
Benefits paid	(1,300)	(1,300)
Benefit obligation at end of year	49,400	45,900	38,700
Funded status
Funded status of the plans	(49,400)	(45,900)
Items not yet recognized as component of net periodic pension expense
Unrecognized net actuarial losses	15,300	14,300
Unamortized prior service (credit) cost		(300)
Accumulated other comprehensive (income) loss	15,300	14,000
Amounts recognized in the statement of financial position
Current liabilities	(4,400)	(4,000)
Noncurrent liabilities	(45,000)	(41,900)
Accumulated other comprehensive (income) loss	15,300	14,000
Net amount recognized	(34,100)	(31,900)
Accumulated benefit obligation	44,700	44,600
Components of net periodic benefit cost
Service cost	1,000	900	900
Interest cost	1,300	1,500	1,500
Prior service (credit) cost	(300)	(500)	(500)
Amortization of net loss	1,500	700	1,300
Net periodic benefit cost	$ 3,500	$ 2,600	$ 3,200
Weighted average assumptions to determine net cost
Discount rate (as a percent)	3.02%	4.07%	3.73%
Rate of compensation increase (as a percent)	6.00%	6.00%	6.00%
Weighted average assumptions to determine benefit obligations
Discount rate (as a percent)	3.42%	2.94%
Rate of compensation increase (as a percent)	6.00%	6.00%
Expected employer contributions during 2016	$ 4,400
Defined Benefit Plans
Change in benefit obligation
Benefit obligation at beginning of year	100,500	$ 82,000
Service cost	1,700	1,300	$ 1,400
Interest cost	3,700	3,800
Actuarial (gain) loss	(7,400)	17,500
Benefits paid	(3,400)	(4,500)
Plan amendments	1,200	400
Benefit obligation at end of year	96,300	100,500	82,000
Change in plan assets
Fair value of plan assets at beginning of year	72,400	70,200
Actual return on plan assets	(600)	3,300
Employer contributions	1,800	3,300
Benefits paid	(3,400)	(4,400)
Fair value of plan assets at end of year	70,200	72,400	70,200
Funded status
Funded status of the plans	(26,100)	(28,100)
Items not yet recognized as component of net periodic pension expense
Unrecognized net actuarial losses	25,800	29,500
Unamortized prior service (credit) cost	2,700	1,700
Accumulated other comprehensive (income) loss	28,500	31,200
Amounts recognized in the statement of financial position
Noncurrent liabilities	(26,100)	(28,100)
Accumulated other comprehensive (income) loss	28,500	31,200
Net amount recognized	2,400	3,100
Accumulated benefit obligation	96,300	100,500
Information for defined benefit plans with an accumulated benefit obligation and projected benefit obligation in excess of plan assets
Accumulated benefit obligation	96,300	100,500
Projected benefit obligation	96,300	100,500
Fair value of plan assets	70,200	72,400
Components of net periodic benefit cost
Service cost	1,700	1,300	1,400
Interest cost	3,700	3,800	3,400
Expected return on plan assets	(5,000)	(5,100)	(4,400)
Prior service (credit) cost	200	200	200
Amortization of net loss	1,800	400	1,800
Net periodic benefit cost	$ 2,400	$ 600	$ 2,400
Weighted average assumptions to determine net cost
Discount rate (as a percent)	3.87%	4.70%	4.00%
Expected long-term rate of return on plan assets (as a percent)	6.59%	7.22%	7.30%
Weighted average assumptions to determine benefit obligations
Discount rate (as a percent)	4.13%	3.78%
Expected long-term rate of return on plan assets (as a percent)	6.59%	7.22%
Expected employer contributions during 2016	$ 2,100

Employee Benefits - Plan Assets

Employee Benefits - Plan Assets and Investment Policy (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Employee Benefits
Weighted-average asset allocations (as a percent)	100.00%	100.00%
Target allocation
Fair value of plan assets	$ 70.2	$ 72.4
Level 1
Target allocation
Fair value of plan assets	50.3	52.6
Level 2
Target allocation
Fair value of plan assets	19.9	19.8
Equity securities
Target allocation
Fair value of plan assets	24.8	26.6
Equity securities | Level 1
Target allocation
Fair value of plan assets	24.8	26.6
U.S. government, state, and agency
Target allocation
Fair value of plan assets	7.9	7.1
U.S. government, state, and agency | Level 2
Target allocation
Fair value of plan assets	7.9	7.1
Corporate debt securities
Target allocation
Fair value of plan assets	9.7	10
Corporate debt securities | Level 2
Target allocation
Fair value of plan assets	9.7	10
Mutual funds
Target allocation
Fair value of plan assets	23.4	25.3
Mutual funds | Level 1
Target allocation
Fair value of plan assets	21.1	22.6
Mutual funds | Level 2
Target allocation
Fair value of plan assets	2.3	2.7
Interest and non-interest bearing cash
Target allocation
Fair value of plan assets	4.4	3.4
Interest and non-interest bearing cash | Level 1
Target allocation
Fair value of plan assets	$ 4.4	$ 3.4
Equity securities
Employee Benefits
Weighted-average asset allocations (as a percent)	56.00%	58.00%
Target allocation
Target allocation, minimum (as a percent)	50.00%
Target allocation, maximum (as a percent)	80.00%
Debt securities
Employee Benefits
Weighted-average asset allocations (as a percent)	38.00%	37.00%
Target allocation
Target allocation, minimum (as a percent)	20.00%
Target allocation, maximum (as a percent)	60.00%
Other
Employee Benefits
Weighted-average asset allocations (as a percent)	6.00%	5.00%
Target allocation
Target allocation, minimum (as a percent)	0.00%
Target allocation, maximum (as a percent)	10.00%

Employee Benefits - Postretirem

Employee Benefits - Postretirement Plan and Summary Information for All Defined Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplemental Executive Retirement Plans
Summary of benefit payments under the Company's various defined benefit plans, which reflect expected future employee service, as appropriate, expected to be paid in the future periods
2,016	$ 4.4
2,017	14
2,018	1.2
2,019	1.2
2,020	12.5
2021-2025	12.2
Amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during 2016
Actuarial loss	1.4
Total	1.4
Defined Benefit Plans
Summary of benefit payments under the Company's various defined benefit plans, which reflect expected future employee service, as appropriate, expected to be paid in the future periods
2,016	3.8
2,017	4
2,018	4.2
2,019	4.5
2,020	4.7
2021-2025	26.7
Amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during 2016
Actuarial loss	1.5
Prior service (credit) cost	0.3
Total	$ 1.8
Supplemental Bonus Plan
General disclosures of the plan
Number of shares of the entity to be contributed to the plan as a result of acquisition	258,006
Number of shares equivalent to the cash liability associated with post-employment liability	90,725
Aggregate obligation to the plan acquired	$ 5.3
(Income) expense from mark to market adjustments	$ (0.2)	$ (1.3)	$ 1.5

Employee Benefits - Supplementa

Employee Benefits - Supplemental Bonus Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Contributions to Company Sponsored Retirement Plans
Company's expense (credit)for Reliance-sponsored retirement plans	$ 37.3	$ 34.1	$ 33.8
Master Plan
Contributions to Company Sponsored Retirement Plans
Company's expense (credit)for Reliance-sponsored retirement plans	21.4	21.5	18.4
Other Defined Contribution Plans
Contributions to Company Sponsored Retirement Plans
Company's expense (credit)for Reliance-sponsored retirement plans	7.9	7	7.8
Employee Stock Ownership Plan
Contributions to Company Sponsored Retirement Plans
Company's expense (credit)for Reliance-sponsored retirement plans	1.5	1.8	1.4
Deferred Compensation Plan
Contributions to Company Sponsored Retirement Plans
Company's expense (credit)for Reliance-sponsored retirement plans	0.6	0.6	0.6
Supplemental Executive Retirement Plans
Contributions to Company Sponsored Retirement Plans
Company's expense (credit)for Reliance-sponsored retirement plans	3.5	2.6	3.2
Defined Benefit Plans
Contributions to Company Sponsored Retirement Plans
Company's expense (credit)for Reliance-sponsored retirement plans	$ 2.4	$ 0.6	$ 2.4

Equity - Reincorporation, Commo

Equity - Reincorporation, Common Stock, Share Repurchase Plan and Preferred Stock (Details) $ / shares in Units, $ in Millions	1 Months Ended				12 Months Ended			264 Months Ended
	Feb. 28, 2015$ / shares	Feb. 28, 2014$ / shares	Jul. 31, 2013$ / shares	Feb. 28, 2013$ / shares	Dec. 31, 2015USD ($)item$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013$ / shares	Dec. 31, 2015item$ / sharesshares
Common Stock
Number of common stock shares authorized | shares					200,000,000	200,000,000		200,000,000
Common stock, par value (in dollars per share) | $ / shares					$ 0.001	$ 0.001		$ 0.001
Votes per share of common stock | item					1			1
Common stock quarterly dividend per share (in dollars per share) | $ / shares	$ 0.40	$ 0.35	$ 0.33	$ 0.30		$ 1.40	$ 1.26
Common stock quarterly dividend per share, before increase (in dollars per share) | $ / shares				$ 0.25
Share Repurchase Plan
Stock Repurchase Program, Increase In Number Of Shares Authorized To Be Repurchased | shares					7,500,000
Repurchase of common shares (in shares) | shares					6,194,641	759,800		22,100,000
Average costs per share | $ / shares					$ 57.39	$ 65.80		$ 30.93
Value of shares repurchased | $					$ 355.5	$ 50
Remaining number of common stock authorized for repurchase under stock repurchase program (in shares) | shares					8,428,592			8,428,592
Preferred Stock
Preferred stock, authorized shares | shares					5,000,000	5,000,000		5,000,000
Preferred stock, par value (in dollars per share) | $ / shares					$ 0.001	$ 0.001		$ 0.001
Minimum number of series in which preferred shares may be issued | item					1

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule of accumulated other comprehensive loss
Balance at the beginning of the period	$ (48.9)
Current-period change	(50.8)
Balance at the end of the period	(99.7)
Deferred tax assets in accumulated other comprehensive income, pension liabilities	15.6	$ 15.6
Foreign Currency Transaction Loss
Schedule of accumulated other comprehensive loss
Balance at the beginning of the period	(23.2)
Current-period change	(51)
Balance at the end of the period	(74.2)
Unrealized Gain (Loss) on Investments, Net of Tax
Schedule of accumulated other comprehensive loss
Balance at the beginning of the period	0.4
Current-period change	(0.4)
Pension and Postretirement Benefit Adjustments, Net of Tax
Schedule of accumulated other comprehensive loss
Balance at the beginning of the period	(26.1)
Current-period change	0.6
Balance at the end of the period	$ (25.5)

Other Income, net (Details)

Other Income, net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Significant components of Other (expense) income, net
Other (expense) income, net	$ (3.6)	$ 10.8	$ 3.9
Investment income from life insurance policies
Significant components of Other (expense) income, net
Other (expense) income, net	55.3	51.3	48.8
Interest expense on life insurance policy loans
Significant components of Other (expense) income, net
Other (expense) income, net	(57.4)	(52.5)	(47.8)
Gain on acquisition achieved in stages
Significant components of Other (expense) income, net
Other (expense) income, net		11.4
Life insurance policy cost of insurance
Significant components of Other (expense) income, net
Other (expense) income, net	(10.1)	(9.2)	(8.5)
Income from life insurance policy redemptions
Significant components of Other (expense) income, net
Other (expense) income, net	4.2		5
Foreign currency transaction (losses) gains
Significant components of Other (expense) income, net
Other (expense) income, net		3.1	(2.6)
Rental income
Significant components of Other (expense) income, net
Other (expense) income, net	1.9	1.9	2.9
Interest income
Significant components of Other (expense) income, net
Other (expense) income, net	1	1.4	1
Equity in earnings of unconsolidated entities
Significant components of Other (expense) income, net
Other (expense) income, net		2.2	2.3
All other, net
Significant components of Other (expense) income, net
Other (expense) income, net	$ 1.5	$ 1.2	$ 2.8

Commitments and Contingencies -

Commitments and Contingencies - Lease Commitments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Lease Commitments
Minimum term of non-cancelable lease commitments for further disclosure		1 year
Rental expense	$ 80	$ 79.3	$ 79.9
Operating lease payments due to various related parties	5.2	$ 5.5	$ 4.8
Operating Leases
2,016	61.6
2,017	48.2
2,018	37.3
2,019	27.5
2,020	17.8
Thereafter	25
Total	$ 217.4

Commitments and Contingencies70

Commitments and Contingencies - Purchase Commitments (Details) - Steel Products $ in Millions	Dec. 31, 2015USD ($)
Purchase Commitments
Total amount of purchase commitments	$ 53.9
2,016	47.5
2,017	4.2
2018 and thereafter	$ 2.2

Commitments and Contingencies71

Commitments and Contingencies - Collective Bargaining Agreements and Environmental Contingencies (Details)	12 Months Ended
	Dec. 31, 2015locationemployeeitem
Environmental Contingencies
Ownership interest in domestic subsidiaries (as a percent)	100.00%
Employees covered by collective bargaining agreements
Collective Bargaining Agreements
Number of Location Entity Operates | location	51
Expiration period of collective bargaining agreements	5 years
Total employees | Employees covered by collective bargaining agreements
Collective Bargaining Agreements
Percentage of employees covered by collective bargaining agreements	11.00%
Number of employees | employee	1,580
Number of collective bargaining agreements that expire over the next five years | item	41
Employees covered by collective bargaining agreements that expire during 2016
Collective Bargaining Agreements
Number of employees | employee	500
Employees covered by collective bargaining agreements that expire during 2016 | Employees covered by collective bargaining agreements
Collective Bargaining Agreements
Number of collective bargaining agreements that expire within one year | item	21

Commitments and Contingencies72

Commitments and Contingencies - Legal Matters (Details) $ in Millions	12 Months Ended
	Dec. 31, 2014USD ($)item
Commitments and Contingencies.
Number of former employees who allege the Company engaged in anticompetitive activities | item	2
Amount paid for settlement of claims | $	$ 23

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Numerator:
Net income attributable to Reliance	$ 68.6	$ 51.4	$ 90.2	$ 101.3	$ 92.3	$ 95.5	$ 96.5	$ 87.2	$ 311.5	$ 371.5	$ 321.6
Denominator for basic earnings per share:
Weighted average shares outstanding (in shares)									74,096,349	77,682,943	76,844,912
Effect of dilutive securities:
Dilutive effect of stock-based awards (in shares)									805,715	932,996	801,280
Denominator:
Weighted average diluted shares outstanding (in shares)									74,902,064	78,615,939	77,646,192
Net income per share attributable to Reliance shareholders - diluted (in dollars per share)	$ 0.94	$ 0.69	$ 1.20	$ 1.30	$ 1.18	$ 1.21	$ 1.22	$ 1.11	$ 4.16	$ 4.73	$ 4.14
Net income per share attributable to Reliance shareholders - basic (in dollars per share)	$ 0.96	$ 0.70	$ 1.21	$ 1.31	$ 1.19	$ 1.23	$ 1.24	$ 1.13	$ 4.20	$ 4.78	$ 4.19

Segment Information - Summary o

Segment Information - Summary of sale by product and service (Details) - item	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Information
Number of reportable segments	1	1
Sales (as a percent)	100.00%	100.00%	100.00%
Carbon steel
Segment Information
Sales (as a percent)	52.00%	54.00%	53.00%
Aluminum
Segment Information
Sales (as a percent)	19.00%	15.00%	15.00%
Stainless steel
Segment Information
Sales (as a percent)	14.00%	14.00%	14.00%
Alloy steel
Segment Information
Sales (as a percent)	7.00%	9.00%	10.00%
Toll processing
Segment Information
Sales (as a percent)	3.00%	2.00%	2.00%
Other
Segment Information
Sales (as a percent)	5.00%	6.00%	6.00%

Segment Information - Geographi

Segment Information - Geographic Location (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidated financial information of the Company's operations by geographic location
Net sales	$ 2,026.2	$ 2,286.2	$ 2,423.7	$ 2,614.4	$ 2,576.7	$ 2,705.1	$ 2,616.8	$ 2,553	$ 9,350.5	$ 10,451.6	$ 9,223.8
Long-lived assets	4,567.4				4,715.5				4,567.4	4,715.5	4,602.1
United States
Consolidated financial information of the Company's operations by geographic location
Net sales									8,617.7	9,801	8,682.2
Long-lived assets	4,211.5				4,327.2				4,211.5	4,327.2	4,296.6
Foreign Countries
Consolidated financial information of the Company's operations by geographic location
Net sales									732.8	650.6	541.6
Long-lived assets	$ 355.9				$ 388.3				$ 355.9	$ 388.3	$ 305.5

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent event - TSI $ in Millions	Jan. 01, 2016USD ($)item
Subsequent Event
Number of locations the entity operates | item	7
Net Sales from prior period | $	$ 200

Impairment of Long-lived Asse77

Impairment of Long-lived Assets (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Impairment of long-lived assets
Total impairment loss of long-lived assets	$ 53,300,000		$ 14,900,000
Impairment loss of property, plant and equipment	17,700,000
Impairment loss of intangible assets	35,600,000
Impairment losses of intangible assets, indefinte-lived	$ 21,200,000		$ 14,900,000
Impairment of long-lived assets		$ 0

Condensed Consolidating Finan78

Condensed Consolidating Financial Statements - Balance Sheet (Details) - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2013	Nov. 30, 2006	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Condensed Unaudited Consolidating Balance Sheet
Ownership interest in domestic subsidiaries (as a percent)			100.00%
Assets
Cash and cash equivalents			$ 104.3	$ 106.2	$ 83.6	$ 97.6
Accounts receivable, net			916.6	1,144.6
Inventories			1,436	1,752.1
Income taxes receivable			36.5
Other current assets			60.8	118.2
Total current assets			2,554.2	3,121.1
Property, plant and equipment, net			1,635.5	1,656.4
Goodwill			1,724.8	1,736.4	1,691.6	1,314.6
Intangible assets, net			1,125.4	1,227.4
Other assets			81.7	81.1
Total assets			7,121.6	7,822.4
Liabilities & Equity
Accounts payable			247	286.5
Accrued compensation and retirement costs			118.7	128.4
Other current liabilities			123.2	154
Current maturities of long-term debt and short-term borrowings			500.8	93.9
Total current liabilities			989.7	662.8
Long-term debt			1,427.9	2,208.1
Other long-term liabilities			761.3	823.6
Total Reliance stockholders' equity			3,914.1	4,099
Noncontrolling interests			28.6	28.9
Total equity			3,942.7	4,127.9	3,884.4	3,567.4
Total liabilities and equity			7,121.6	7,822.4
Senior Unsecured Notes
Condensed Unaudited Consolidating Balance Sheet
Aggregate principal amount	$ 1,100	$ 1,100
Ownership interest in domestic subsidiaries (as a percent)	100.00%	100.00%
Reportable legal entities | Parent
Assets
Cash and cash equivalents			10.7	41.9	19.7	28.1
Accounts receivable, net			66.5	72.7
Inventories			56	57.6
Income taxes receivable			38.2
Other current assets			36.4	139.3
Total current assets			207.8	311.5
Investments in subsidiaries			5,046.2	4,891.8
Property, plant and equipment, net			115.5	103.8
Goodwill			23.8	23.8
Intangible assets, net			14	16.1
Intercompany receivables			614.2	1,361.7
Other assets			24.6	22.7
Total assets			6,046.1	6,731.4
Liabilities & Equity
Accounts payable			25.3	29.2
Accrued compensation and retirement costs			29.5	23.9
Other current liabilities			54	65.2
Current maturities of long-term debt and short-term borrowings			400	43.8
Total current liabilities			508.8	162.1
Long-term debt			1,417.3	2,156.6
Other long-term liabilities			205.9	313.7
Total Reliance stockholders' equity			3,914.1	4,099
Total equity			3,914.1	4,099
Total liabilities and equity			6,046.1	6,731.4
Reportable legal entities | Guarantor Subsidiaries
Assets
Cash and cash equivalents			(1)	(8.3)	(0.8)	13.1
Accounts receivable, net			701.8	923.1
Inventories			1,145.1	1,454.2
Other current assets			15.1	38.5
Total current assets			1,861	2,407.5
Investments in subsidiaries			328	299.9
Property, plant and equipment, net			1,311.3	1,333.7
Goodwill			1,571.1	1,571
Intangible assets, net			977.5	1,056.7
Intercompany receivables			45.4	26.1
Other assets			50.9	52.5
Total assets			6,145.2	6,747.4
Liabilities & Equity
Accounts payable			160	212.3
Accrued compensation and retirement costs			79.1	89.9
Other current liabilities			15.3	26.1
Deferred income taxes				75.1
Total current liabilities			254.4	403.4
Long-term debt			5.7	5.7
Intercompany borrowings			547.6	1,242.5
Other long-term liabilities			505	456.2
Total Reliance stockholders' equity			4,824.5	4,633.4
Noncontrolling interests			8	6.2
Total equity			4,832.5	4,639.6
Total liabilities and equity			6,145.2	6,747.4
Reportable legal entities | Non-Guarantor Subsidiaries
Assets
Cash and cash equivalents			94.6	72.6	$ 64.7	$ 56.4
Accounts receivable, net			152.3	164.8
Inventories			234.9	240.3
Income taxes receivable			(1.7)
Other current assets			12.6	16.1
Total current assets			492.7	493.8
Property, plant and equipment, net			208.7	218.9
Goodwill			129.9	141.6
Intangible assets, net			133.9	154.6
Intercompany receivables			30.5	18.2
Other assets			6.2	5.9
Total assets			1,001.9	1,033
Liabilities & Equity
Accounts payable			65.7	60.6
Accrued compensation and retirement costs			10.1	14.6
Other current liabilities			57.2	62.6
Deferred income taxes				0.6
Current maturities of long-term debt and short-term borrowings			100.8	50.1
Total current liabilities			233.8	188.5
Long-term debt			4.9	45.8
Intercompany borrowings			142.5	163.5
Other long-term liabilities			50.4	54.1
Total Reliance stockholders' equity			549.7	558.4
Noncontrolling interests			20.6	22.7
Total equity			570.3	581.1
Total liabilities and equity			1,001.9	1,033
Consolidating Adjustments
Assets
Accounts receivable, net			(4)	(16)
Other current assets			(3.3)	(75.7)
Total current assets			(7.3)	(91.7)
Investments in subsidiaries			(5,374.2)	(5,191.7)
Intercompany receivables			(690.1)	(1,406)
Total assets			(6,071.6)	(6,689.4)
Liabilities & Equity
Accounts payable			(4)	(15.6)
Other current liabilities			(3.3)	0.1
Deferred income taxes				(75.7)
Total current liabilities			(7.3)	(91.2)
Intercompany borrowings			(690.1)	(1,406)
Other long-term liabilities				(0.4)
Total Reliance stockholders' equity			(5,374.2)	(5,191.8)
Total equity			(5,374.2)	(5,191.8)
Total liabilities and equity			$ (6,071.6)	$ (6,689.4)

Condensed Consolidating Finan79

Condensed Consolidating Financial Statements - Statement of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Unaudited Consolidating Statement of Comprehensive Income
Net sales	$ 2,026.2	$ 2,286.2	$ 2,423.7	$ 2,614.4	$ 2,576.7	$ 2,705.1	$ 2,616.8	$ 2,553	$ 9,350.5	$ 10,451.6	$ 9,223.8
Costs and expenses:
Cost of sales (exclusive of depreciation and amortization shown below)	1,444.2	1,647.9	1,767.8	1,943.7	1,954.4	2,026.9	1,943.5	1,905.8	6,803.6	7,830.6	6,826.2
Warehouse, delivery, selling, general and administrative									1,728.5	1,789.8	1,638.4
Depreciation and amortization									218.5	213.8	192.4
Impairment of long-lived assets									53.3		14.9
Total costs and expenses									8,803.9	9,834.2	8,671.9
Operating (loss) income									546.6	617.4	551.9
Other income (expense):
Interest									(84.3)	(81.9)	(77.5)
Other (expense) income, net									(3.6)	10.8	3.9
(Loss) income before equity in earnings of subsidiaries and income taxes									458.7	546.3	478.3
Income before income taxes									458.7	546.3	478.3
Income tax (benefit) provision									142.5	170	153.6
Net income	68.9	52.8	91.6	102.9	93.7	96.9	97.8	87.9	316.2	376.3	324.7
Less: Net income attributable to noncontrolling interests									4.7	4.8	3.1
Net income attributable to Reliance	$ 68.6	$ 51.4	$ 90.2	$ 101.3	$ 92.3	$ 95.5	$ 96.5	$ 87.2	311.5	371.5	321.6
Comprehensive income attributable to Reliance									260.7	329.3	316.4
Reportable legal entities | Parent
Condensed Unaudited Consolidating Statement of Comprehensive Income
Net sales									710.9	750.2	704.5
Costs and expenses:
Cost of sales (exclusive of depreciation and amortization shown below)									503.1	557	509.7
Warehouse, delivery, selling, general and administrative									168.1	157.3	200.7
Depreciation and amortization									16.8	19.8	17.5
Total costs and expenses									688	734.1	727.9
Operating (loss) income									22.9	16.1	(23.4)
Other income (expense):
Interest									(80.3)	(78.1)	(74.7)
Other (expense) income, net									17.2	67.7	75.7
(Loss) income before equity in earnings of subsidiaries and income taxes									(40.2)	5.7	(22.4)
Equity in earnings of subsidiaries									297.8	325.1	300.3
Income before income taxes									257.6	330.8	277.9
Income tax (benefit) provision									(53.9)	(40.7)	(43.7)
Net income									311.5	371.5	321.6
Net income attributable to Reliance									311.5	371.5	321.6
Comprehensive income attributable to Reliance									260.7	367.5	318.9
Reportable legal entities | Guarantor Subsidiaries
Condensed Unaudited Consolidating Statement of Comprehensive Income
Net sales									7,978.3	9,110.2	8,021.6
Costs and expenses:
Cost of sales (exclusive of depreciation and amortization shown below)									5,833.9	6,885.4	5,999.2
Warehouse, delivery, selling, general and administrative									1,435.8	1,545.9	1,385.5
Depreciation and amortization									179.1	174	158.6
Impairment of long-lived assets									51.8		14.9
Total costs and expenses									7,500.6	8,605.3	7,558.2
Operating (loss) income									477.7	504.9	463.4
Other income (expense):
Interest									(19.2)	(28.3)	(19.9)
Other (expense) income, net									(0.7)	(2.7)	5.5
(Loss) income before equity in earnings of subsidiaries and income taxes									457.8	473.9	449
Equity in earnings of subsidiaries									13.1	21.2	12.4
Income before income taxes									470.9	495.1	461.4
Income tax (benefit) provision									182.5	190.1	181
Net income									288.4	305	280.4
Less: Net income attributable to noncontrolling interests									4.7	4.4	2.8
Net income attributable to Reliance									283.7	300.6	277.6
Comprehensive income attributable to Reliance									250.1	280.4	293.5
Reportable legal entities | Non-Guarantor Subsidiaries
Condensed Unaudited Consolidating Statement of Comprehensive Income
Net sales									864.6	825.9	710.1
Costs and expenses:
Cost of sales (exclusive of depreciation and amortization shown below)									670	623	529.7
Warehouse, delivery, selling, general and administrative									140	140.9	117.8
Depreciation and amortization									22.6	20	16.3
Impairment of long-lived assets									1.5
Total costs and expenses									834.1	783.9	663.8
Operating (loss) income									30.5	42	46.3
Other income (expense):
Interest									(6.7)	(5.7)	(4.2)
Other (expense) income, net									17.3	30.4	9.6
(Loss) income before equity in earnings of subsidiaries and income taxes									41.1	66.7	51.7
Income before income taxes									41.1	66.7	51.7
Income tax (benefit) provision									13.9	20.6	16.3
Net income									27.2	46.1	35.4
Less: Net income attributable to noncontrolling interests										0.4	0.3
Net income attributable to Reliance									27.2	45.7	35.1
Comprehensive income attributable to Reliance									(18.9)	27.7	16.7
Consolidating Adjustments
Condensed Unaudited Consolidating Statement of Comprehensive Income
Net sales									(203.3)	(234.7)	(212.4)
Costs and expenses:
Cost of sales (exclusive of depreciation and amortization shown below)									(203.4)	(234.8)	(212.4)
Warehouse, delivery, selling, general and administrative									(15.4)	(54.3)	(65.6)
Total costs and expenses									(218.8)	(289.1)	(278)
Operating (loss) income									15.5	54.4	65.6
Other income (expense):
Interest									21.9	30.2	21.3
Other (expense) income, net									(37.4)	(84.6)	(86.9)
Equity in earnings of subsidiaries									(310.9)	(346.3)	(312.7)
Income before income taxes									(310.9)	(346.3)	(312.7)
Net income									(310.9)	(346.3)	(312.7)
Net income attributable to Reliance									(310.9)	(346.3)	(312.7)
Comprehensive income attributable to Reliance									$ (231.2)	$ (346.3)	$ (312.7)

Condensed Consolidating Finan80

Condensed Consolidating Financial Statements - Cash Flow Statement (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Unaudited Consolidating Cash Flow Statement
Net cash provided by operating activities	$ 1,025	$ 356	$ 633.3
Investing activities:
Purchases of property, plant and equipment	(172.2)	(190.4)	(168)
Acquisitions, net of cash acquired	(0.4)	(208.2)	(821.1)
Other investing activities, net	2.3	33.6	10.1
Net cash used in investing activities	(169.9)	(365)	(979)
Financing activities:
Net short-term debt borrowings	12.7	1.7	(473)
Proceed from long-term debt borrowings	573	719	2,297.9
Principal payments on long-term debt	(962.3)	(552.2)	(1,454.5)
Dividends and dividend equivalents paid	(120.1)	(108.7)	(96.9)
Share repurchases	(355.5)	(50)
Other financing activities, net	3.7	(26.8)	58.6
Net cash (used in) provided by financing activities	(848.5)	33	332.1
Effect of exchange rate changes on cash and cash equivalents	(8.5)	(1.4)	(0.4)
(Decrease) increase in cash and cash equivalents	(1.9)	22.6	(14)
Cash and cash equivalents at beginning of year	106.2	83.6	97.6
Cash and cash equivalents at end of period	104.3	106.2	83.6
Reportable legal entities | Parent
Condensed Unaudited Consolidating Cash Flow Statement
Net cash provided by operating activities	148.8	118.4	102.8
Investing activities:
Purchases of property, plant and equipment	(21.5)	(18.2)	(14)
Acquisitions, net of cash acquired			(821.1)
Net repayments (advances) from subsidiaries	697.2	(119.7)	(85.3)
Other investing activities, net	(2.6)	(0.8)	0.1
Net cash used in investing activities	673.1	(138.7)	(920.3)
Financing activities:
Proceed from long-term debt borrowings	573	719	2,297.9
Principal payments on long-term debt	(959.8)	(549.3)	(1,452.8)
Dividends and dividend equivalents paid	(120.1)	(108.7)	(96.9)
Share repurchases	(355.5)
Other financing activities, net	9.3	(18.5)	60.9
Net cash (used in) provided by financing activities	(853.1)	42.5	809.1
(Decrease) increase in cash and cash equivalents	(31.2)	22.2	(8.4)
Cash and cash equivalents at beginning of year	41.9	19.7	28.1
Cash and cash equivalents at end of period	10.7	41.9	19.7
Reportable legal entities | Guarantor Subsidiaries
Condensed Unaudited Consolidating Cash Flow Statement
Net cash provided by operating activities	805	193.2	458.5
Investing activities:
Purchases of property, plant and equipment	(136.1)	(159.2)	(139.9)
Acquisitions, net of cash acquired		(92)
Other investing activities, net	4.8	(3.6)	2.8
Net cash used in investing activities	(131.3)	(254.8)	(137.1)
Financing activities:
Net short-term debt borrowings			(473.8)
Principal payments on long-term debt	(2.5)	(2)	(0.6)
Net intercompany borrowings (repayments)	(663.9)	64.4	141.4
Other financing activities, net		(8.3)	(2.3)
Net cash (used in) provided by financing activities	(666.4)	54.1	(335.3)
(Decrease) increase in cash and cash equivalents	7.3	(7.5)	(13.9)
Cash and cash equivalents at beginning of year	(8.3)	(0.8)	13.1
Cash and cash equivalents at end of period	(1)	(8.3)	(0.8)
Reportable legal entities | Non-Guarantor Subsidiaries
Condensed Unaudited Consolidating Cash Flow Statement
Net cash provided by operating activities	71.2	44.4	72
Investing activities:
Purchases of property, plant and equipment	(14.6)	(13)	(14.1)
Acquisitions, net of cash acquired		(116.2)
Other investing activities, net	0.1	38	7.2
Net cash used in investing activities	(14.5)	(91.2)	(6.9)
Financing activities:
Net short-term debt borrowings	12.7	1.7	0.8
Principal payments on long-term debt		(0.9)	(1.1)
Net intercompany borrowings (repayments)	(33.3)	55.3	(56.1)
Other financing activities, net	(5.6)
Net cash (used in) provided by financing activities	(26.2)	56.1	(56.4)
Effect of exchange rate changes on cash and cash equivalents	(8.5)	(1.4)	(0.4)
(Decrease) increase in cash and cash equivalents	22	7.9	8.3
Cash and cash equivalents at beginning of year	72.6	64.7	56.4
Cash and cash equivalents at end of period	94.6	72.6	64.7
Consolidating Adjustments
Investing activities:
Net repayments (advances) from subsidiaries	(697.2)	119.7	85.3
Net cash used in investing activities	(697.2)	119.7	85.3
Financing activities:
Net intercompany borrowings (repayments)	697.2	(119.7)	(85.3)
Net cash (used in) provided by financing activities	$ 697.2	$ (119.7)	$ (85.3)

Quarterly Financial Informati81

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summary of the quarterly results of operations
Net sales	$ 2,026.2	$ 2,286.2	$ 2,423.7	$ 2,614.4	$ 2,576.7	$ 2,705.1	$ 2,616.8	$ 2,553	$ 9,350.5	$ 10,451.6	$ 9,223.8
Cost of sales	1,444.2	1,647.9	1,767.8	1,943.7	1,954.4	2,026.9	1,943.5	1,905.8	6,803.6	7,830.6	6,826.2
Gross profit	582	638.3	655.9	670.7	622.3	678.2	673.3	647.2
Net income	68.9	52.8	91.6	102.9	93.7	96.9	97.8	87.9	316.2	376.3	324.7
Net income attributable to Reliance	$ 68.6	$ 51.4	$ 90.2	$ 101.3	$ 92.3	$ 95.5	$ 96.5	$ 87.2	$ 311.5	$ 371.5	$ 321.6
Basic earnings per common share (in dollars per share)	$ 0.96	$ 0.70	$ 1.21	$ 1.31	$ 1.19	$ 1.23	$ 1.24	$ 1.13	$ 4.20	$ 4.78	$ 4.19
Diluted earnings per common share (in dollars per share)	$ 0.94	$ 0.69	$ 1.20	$ 1.30	$ 1.18	$ 1.21	$ 1.22	$ 1.11	$ 4.16	$ 4.73	$ 4.14

SCHEDULE II - VALUATION AND Q82

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - Allowance for doubtful accounts - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in valuation and qualifying accounts
Balance at Beginning of Period	$ 18.3	$ 18.9	$ 20.5
Additions Charged to Costs and Expenses	4.7	4.6	4
Deductions	6.7	5.2	10.4
Amounts Charged to Other Accounts			4.8
Balance at End of Period	$ 16.3	$ 18.3	$ 18.9