v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information

NOTE 10: SEGMENT INFORMATION

Edward Lehner, our Chief Executive Officer, serves as our chief operating decision maker ("CODM"). The CODM views our business as two operating segments, Ryerson, excluding Olympic Steel ("same-store"), and Olympic Steel. Management has aggregated these segments based on all criteria within ASC 280, "Segment Reporting", resulting in one reportable segment, metals service centers. There are no differences from the last annual report in our measurement of segment profit or loss.

The Company’s segment revenue, significant expenses regularly reviewed by the CODM, and other segment items are as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(In millions)

 

 

(In millions)

 

Net sales

 

$

2,006.2

 

 

$

1,169.3

 

 

$

3,572.7

 

 

$

2,305.0

 

Less 1 :

 

 

 

 

 

 

 

 

 

 

 

 

Cost of materials sold, excluding LIFO expense

 

 

1,634.0

 

 

 

946.7

 

 

 

2,901.7

 

 

 

1,871.2

 

LIFO expense

 

 

17.0

 

 

 

13.2

 

 

 

27.0

 

 

 

20.0

 

Delivery expense

 

 

60.6

 

 

 

31.7

 

 

 

102.3

 

 

 

61.8

 

Compensation and benefits expense

 

 

156.2

 

 

 

92.9

 

 

 

287.3

 

 

 

189.5

 

Selling, general, and administrative expense

 

 

22.3

 

 

 

19.1

 

 

 

41.2

 

 

 

36.8

 

Operating expense - fixed

 

 

20.0

 

 

 

18.7

 

 

 

40.3

 

 

 

38.7

 

Operating expense - variable

 

 

26.3

 

 

 

15.3

 

 

 

47.0

 

 

 

30.3

 

Reorganization expense and one-time items 2

 

 

2.3

 

 

 

5.0

 

 

 

6.0

 

 

 

9.0

 

Depreciation and amortization expense

 

 

31.7

 

 

 

19.4

 

 

 

55.1

 

 

 

38.6

 

Interest and other expense on debt

 

 

14.3

 

 

 

9.8

 

 

 

26.0

 

 

 

19.3

 

Other segment items 3

 

 

(0.5

)

 

 

3.8

 

 

 

3.6

 

 

 

3.0

 

Income (loss) before income taxes

 

 

22.0

 

 

 

(6.3

)

 

 

35.2

 

 

 

(13.2

)

Provision (benefit) for income taxes

 

 

6.0

 

 

 

(8.4

)

 

 

14.2

 

 

 

(10.0

)

Net income (loss)

 

 

16.0

 

 

 

2.1

 

 

 

21.0

 

 

 

(3.2

)

Less: Net income attributable to noncontrolling interest

 

 

0.5

 

 

 

0.2

 

 

 

1.0

 

 

 

0.5

 

Net Income (loss) attributable to Ryerson Holding Corporation

 

$

15.5

 

 

$

1.9

 

 

$

20.0

 

 

$

(3.7

)

 

(1) The significant expense categories and amounts align with the information that is regularly provided to the CODM.

(2) Reorganization expense and one-time items is used by management to capture excess costs associated with one-time events or with implementing significant Company projects or changes and allows the CODM to assess performance without the impact of these items. It is not a GAAP financial measure. Expenses excluding reorganization expense and one-time items should not be used as a substitute for total expenses reported on our Condensed Consolidated Statements of Comprehensive Income (Loss).

(3) Other segment items include merger expenses, foreign exchange gain and loss, pension settlement gains, impairment charges on assets, discounts on accounts receivable factoring, and pension and postretirement benefit costs other than service costs.

The measure of segment assets used by the CODM is reported on the Condensed Consolidated Balance Sheets as total consolidated assets. The primary measure of segment profit or loss that is most consistent with GAAP is net income (loss) attributable to Ryerson Holding Corporation as reported on the Condensed Consolidated Statements of Comprehensive Income (Loss). Net income (loss) is used by the CODM for planning and forecasting future periods, analyzing the core operating performance of the business, as well as to allocate resources, including for employee compensation and capital investment.

Capital expenditures are regularly provided to the CODM on a consolidated basis. See our Condensed Consolidated Statement of Cash Flows for capital expenditure amounts as of June 30, 2026 and 2025.