RELIANCE, INC.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
RS$427.15+1.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOW****S
| | | | | | | | | |
|---|---|---|---|---|---|---|---|---|
| Year Ended December 31, · 2025 · · 2024 · · 2023 | ||||||||
| Operating activities: | | | | | | | | |
| Net income | $741.6 | | $878.0 | | $1,340.1 | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | |
| Depreciation and amortization expense | | 278.2 | | | 268.7 | | | 245.4 |
| Impairment | | 9.9 | | | 11.7 | | | — |
| Provision for credit losses | | 3.0 | | | 2.2 | | | 3.5 |
| Deferred income tax provision | | 37.1 | | | 36.4 | | | 16.2 |
| Stock-based compensation expense | | 55.6 | | | 56.8 | | | 65.0 |
| Other | | (12.7) | | | 10.1 | | | (0.8) |
| Changes in operating assets and liabilities (excluding effect of businesses acquired): | | | | | | | | |
| Accounts receivable | | (195.4) | | | 167.4 | | | 95.6 |
| Inventories | | (154.8) | | | 116.8 | | | (41.5) |
| Prepaid expenses and other assets | | 75.8 | | | 27.2 | | | 37.3 |
| Accounts payable and other liabilities | | (6.9) | | | (145.5) | | | (89.5) |
| Net cash provided by operating activities | | 831.4 | | | 1,429.8 | | | 1,671.3 |
| | | | | | | | | |
| Investing activities: | | | | | | | | |
| Acquisitions, net of cash acquired | | (2.8) | | | (364.6) | | | (24.0) |
| Purchases of property, plant and equipment | | (328.9) | | | (430.6) | | | (468.8) |
| Proceeds from sales of property, plant and equipment | | 17.2 | | | 4.7 | | | 11.1 |
| Other | | (7.3) | | | (13.2) | | | (2.2) |
| Net cash used in investing activities | | (321.8) | | | (803.7) | | | (483.9) |
| | | | | | | | | |
| Financing activities: | | | | | | | | |
| Net short-term debt borrowings | | — | | | — | | | (2.2) |
| Proceeds from long-term debt borrowings | | 2,701.0 | | | 663.0 | | | — |
| Principal payments on long-term debt | | (2,424.3) | | | (663.3) | | | (506.1) |
| Cash dividends and dividend equivalents | | (254.7) | | | (249.7) | | | (238.1) |
| Share repurchases | | (594.1) | | | (1,093.7) | | | (479.5) |
| Taxes paid related to net share settlement of restricted stock units | | (17.9) | | | (42.8) | | | (54.1) |
| Excise tax on repurchase of common shares | | (10.0) | | | — | | | — |
| Other | | (20.2) | | | 10.1 | | | (2.3) |
| Net cash used in financing activities | | (620.2) | | | (1,376.4) | | | (1,282.3) |
| Effect of exchange rate changes on cash and cash equivalents | | 9.1 | | | (11.8) | | | 1.7 |
| Decrease in cash and cash equivalents | | (101.5) | | | (762.1) | | | (93.2) |
| Cash and cash equivalents, beginning balance | | 318.1 | | | 1,080.2 | | | 1,173.4 |
| Cash and cash equivalents, ending balance | $216.6 | | $318.1 | | $1,080.2 | |||
| | | | | | | | | |
| Supplemental cash flow information: | | | | | | | | |
| Interest paid | $54.7 | | $37.8 | | $41.8 | |||
| Income taxes paid, net | $163.7 | | $244.9 | | $386.3 | |||
44 / 2025 Form 10-K
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