Derivatives (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Location and Fair Value Amount of Derivative Instruments

The following table summarizes the location and fair value amount of our derivative instruments reported in our Consolidated Balance Sheets as of December 31, 2025 and 2024. As of December 31, 2025 and 2024, derivative instruments held by the Company were subject to master netting arrangements with various financial institutions. The Company’s accounting policy is to not offset these positions in its Consolidated Balance Sheets. The gross derivative asset and liabilities with financial institutions presented in the Consolidated Balance Sheets offset to an asset of $9.4 million as of December 31, 2025, and zero as of December 31, 2024.


	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
	Balance Sheet Location	December 31, 2025		December 31, 2024		Balance Sheet Location	December 31, 2025		December 31, 2024
	(In millions)
Derivatives not designated as hedging instruments under ASC 815
Metal commodity contracts	Prepaid expenses and other current assets	$	12.2	$	1.8	Other accrued liabilities	$	2.6	$	2.0
Energy contracts	Prepaid expenses and other current assets		—		0.1	Other accrued liabilities		0.2		—
Foreign currency exchange contracts	Prepaid expenses and other current assets		—		0.1	Other accrued liabilities		—		—
Embedded customer derivatives	Receivables less provisions		—		—	Other accrued liabilities		9.7		—
Total derivatives		$	12.2	$	2.0		$	12.5	$	2.0

Volume of Company 's Activity in Derivative Instruments

The following table presents the volume of the Company’s activity in derivative instruments as of December 31, 2025 and 2024:


	Notional Amount
Derivative Instruments	At December 31, 2025		At December 31, 2024		Unit of Measurement
Hot roll coil swap contracts		16,972		31,658	Tons
Aluminum swap contracts		20,075		15,711	Tons
Nickel swap contracts		288		298	Tons
Copper swap contracts		6,297		1,319	Tons
Natural gas swap contracts		147,160		283,000	Gallons
Diesel fuel swap contracts		1,964,000		1,176,000	Gallons
Foreign currency exchange contracts	1.8 million		1.6 million		U.S. dollars

Location and Amount of Gains and Losses on Derivatives Not Designated as Hedging Instruments Reported in Consolidated Statements of Operations

The following table summarizes the location and amount of gains and losses on derivatives with financial institutions, net of embedded customer derivatives not designated as hedging instruments reported in our Consolidated Statements of Operations for the years ended December 31, 2025, 2024, and 2023:


		Amount of Gain/ (Loss) Recognized in Income on Derivatives
		Year Ended December 31,
Derivatives not designated as hedging instruments under ASC 815	Location of Gain/(Loss) Recognized in Income on Derivatives	2025			2024		2023
		(In millions)
Metal commodity contracts, net of embedded customer derivatives	Cost of materials sold	$	4.9		$	6.9	$	10.7
Energy contracts	Warehousing, delivery, selling, general, and administrative		(0.1	)		0.1		—
Foreign exchange contracts	Other income and (expense), net		(0.1	)		0.1		—
Total		$	4.7		$	7.1	$	10.7

Ryerson Holding Corp 10-K