8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 24, 2014

SUNCOKE ENERGY, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-35243	90-0640593
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1011 Warrenville Road, Suite 600 Lisle, Illinois	60532
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (630) 824-1000

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On July 24, 2014, SunCoke Energy, Inc. (the “Company”) issued a press release announcing its financial results for the second quarter of 2014. A copy of this press release is attached as Exhibit 99.1 and is incorporated herein by reference.

Item 7.01. Regulation FD Disclosure.

As noted above, the Company issued a press release announcing its financial results for the second quarter of 2014 on July 24, 2014. Additional information concerning the Company’s financial results for the second quarter of 2014 will be presented in a slide presentation to investors during a previously announced teleconference on July 24, 2014. A copy of the slide presentation is attached as Exhibit 99.2 and is incorporated herein by reference.

The information in this report, being furnished pursuant to Items 2.02, 7.01 and 9.01 of Form 8-K, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and is not incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Exhibit
99.1	Press release dated July 24, 2014.
99.2	Slide presentation dated July 24, 2014.

Forward-Looking Statements

Statements contained in the exhibits to this report that state the Company’s or its management’s expectations or predictions of the future are forward-looking statements. The Company’s actual results could differ materially from those projected in such forward-looking statements. Factors that could affect those results include those mentioned in the documents that the Company has filed with the Securities and Exchange Commission.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

SUNCOKE ENERGY, INC.
By:	/s/ Mark E. Newman
	Mark E. Newman
	Senior Vice President and Chief Financial Officer

Date: July 24, 2014

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EXHIBIT INDEX

Exhibit No.	Exhibit
99.1	Press release dated July 24, 2014.
99.2	Slide presentation dated July 24, 2014.

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EX-99.1

Exhibit 99.1

Investors and Media:

Lisa Ciota: 630-824-1907

SUNCOKE ENERGY, INC. REPORTS SECOND QUARTER 2014 RESULTS

• Second quarter 2014 net loss was $49.2 million, or $0.71 per share, reflecting the impact of a $103.1 million Coal Mining non-cash impairment charge. Excluding this charge, net income was $1.8 million, or $0.03 per share

• Executed the drop down of a 33 percent interest in the Haverhill and Middletown cokemaking facilities to SunCoke Energy Partners, L.P. (NYSE: SXCP) in second quarter 2014, incurring transaction costs of $17.4 million

• Adjusted EBITDA increased $8.1 million to $60.5 million in second quarter 2014, primarily due to the contribution of our new Coal Logistics segment

• Domestic Coke segment generated $64.3 million of Adjusted EBITDA in second quarter 2014 on sales of 1,059 thousand tons resulting in Adjusted EBITDA per ton of $61, up from $57 per ton in 2013

• New $150 million share repurchase program authorized; $75 million to be bought back via an Accelerated Share Repurchase program

Lisle, IL (July 24, 2014) - SunCoke Energy, Inc. (NYSE: SXC) today reported second quarter 2014 net loss attributable to shareholders of $49.2 million, or $0.71 per diluted share. This result includes $51.0 million, or $0.74 per share, of costs for the net after-tax impact of the $103.1 million Coal Mining impairment charge. Excluding these non-cash charges, second quarter 2014 net income was $1.8 million, or $0.03 per diluted share. Second quarter 2013 net income was $5.7 million, or $0.08 per diluted share.

“Excluding impairment charges, Adjusted EBITDA in the second quarter was driven by the contribution of our new Coal Logistics business and higher fees earned at Indiana Harbor due to last fall’s contract renewal,” said Fritz Henderson, Chairman and Chief Executive Officer of SunCoke Energy, Inc. “Our coal mining business performed as expected and benefited from a favorable contingent consideration adjustment and lower cash production costs. We continue to expect to generate full year Adjusted EBITDA of between $220 million and $240 million, excluding impairment and exit costs related to our coal mining business.”

CONSOLIDATED RESULTS

	Three Months Ended June 30,
(In millions, except per share amounts)	2014			2013		Increase/ (Decrease)
Total Revenues	$	372.2		$	403.7	$	(31.5	)
Operating Income		(71.4	)		26.1		(97.5	)
Adjusted EBITDA(1)(2)		60.5			52.4		8.1
Net (Loss) Income Attributable to Shareholders		(49.2	)		5.7		(54.9	)
(Loss) Earnings Per Diluted Share		(0.71	)		0.08		(0.79	)

(1) See definition of Adjusted EBITDA and reconciliation elsewhere in this release.

(2) Excludes impact of Coal Mining non-cash impairment charge of $103.1 million.

1

Total revenues fell 7.8 percent to $372.2 million in second quarter 2014 versus same prior year period due to the pass-through of lower coal prices and reduced coke sales volumes in our Domestic Coke segment and a nearly $16 per ton decline in average coal sales price and lower sales volumes in our Coal Mining segment. Offsetting these declines was revenue contributed by our new Coal Logistics business.

The second quarter 2014 operating loss of $71.4 million primarily reflects the impact of the $103.1 million non-cash Coal Mining impairment charge. Excluding this non-cash charge, operating income increased to $31.7 million for the quarter. Adjusted EBITDA, which excludes the impairment charge, rose 15.5 percent to $60.5 million, benefiting from our new Coal Logistics business and better results in our Domestic Coke segment.

Net loss attributable to shareholders was $49.2 million in second quarter 2014, compared with net income of $5.7 million in same prior year period. The major factor affecting net income in second quarter 2014 was the non-cash Coal Mining impairment charge. Excluding this non-cash charge, net income was $1.8 million. Also impacting net income in the second quarter 2014 was $17.4 million of pre-tax costs related to our dropdown transaction with SXCP, which included $11.4 million bond tender premium, $4.0 million of debt extinguishment fees, $0.3 million of net higher interest expense and $1.7 million of transaction costs.

SEGMENT RESULTS

Domestic Coke

Domestic Coke consists of cokemaking facilities and heat recovery operations at our Jewell, Indiana Harbor, Haverhill, Granite City and Middletown plants.

	Three Months Ended June 30,
(In millions, except per ton amounts)	2014		2013		Increase/ (Decrease)
Segment Revenues	$	344.5	$	375.8	$	(31.3	)
Adjusted EBITDA(1)		64.3		61.3		3.0
Sales Volume (in thousands of tons)		1,059		1,074		(15	)
Adjusted EBITDA per ton(1)	$	60.72	$	57.08		3.64

⁽¹⁾ See definitions of Adjusted EBITDA and Adjusted EBITDA per Ton and reconciliation elsewhere in this release.

• Segment revenues were affected by the pass-through of lower coal costs and lower coke sales volumes at Haverhill and Indiana Harbor.

• Adjusted EBITDA increased $3.0 million, due to a higher fee per ton of coke sold at Indiana Harbor and improved performance at Granite City, partly offset by lower coal-to-coke yields and higher costs at our Haverhill facility.

Brazil Coke

Brazil Coke consists of a cokemaking facility in Vitória, Brazil, which we operate for an affiliate of ArcelorMittal. Brazil Coke earns operating and technology licensing fees based on production and recognizes a dividend on a preferred stock investment assuming certain minimum production levels are achieved.

• Segment Adjusted EBITDA increased $0.9 million to $2.5 million on higher production.

India Coke

India Coke consists of our 49 percent interest in VISA SunCoke, a joint venture with VISA Steel formed on March 18, 2013. VISA SunCoke owns a 440 thousand ton cokemaking facility and associated steam generation unit in Odisha, India. Financial results for VISA SunCoke are recorded on a one-month lag and represent our 49 percent share of the joint venture’s results.

2

• Adjusted EBITDA declined $1.3 million for a loss of $0.5 million in second quarter 2014. The Adjusted EBITDA loss per ton was $12 per ton. Import competition from China continues to depress coke pricing in India, resulting in weak margins.

• India Coke’s net loss in second quarter 2014 was $0.9 million versus a loss of $0.2 million in the same prior year period.

Coal Mining (excluding impact of impairment charge)

Coal Mining consists of our metallurgical coal mining activities conducted in Virginia and West Virginia. A substantial portion of the metallurgical coal produced by our coal mining operations is sold to our Jewell Coke facility for conversion into coke.

	Three Months Ended June 30,
(In millions, except per ton amounts)	2014			2013			Increase/ (Decrease)
Total Coal Mining Revenues(1)	$	42.9		$	52.7		$	(9.8	)
Segment Revenues (excluding sales to affiliates)	$	7.5		$	19.8		$	(12.3	)
Adjusted EBITDA(1)	$	(1.2	)	$	(2.6	)	$	1.4
Coal Production (in thousands of tons)(2)		336			367			(31	)
Sales Volumes (in thousands of tons)(3)		419			457			(38	)
Sales Price per ton (excludes transportation costs)	$	98.64		$	114.18		$	(15.54	)
Adjusted EBITDA per ton(1)	$	(2.86	)	$	(5.69	)	$	2.83

⁽¹⁾  See definitions of Adjusted EBITDA, Adjusted EBITDA per Ton and reconciliation elsewhere in this release.

⁽²⁾  Includes production from Company and contract-operated mines.

⁽³⁾  Includes sales to affiliates.

• Total Coal Mining revenues (including sales to affiliates) fell as a result of a nearly $16 per ton decline in average coal sales price and lower volumes. Excluding sales to affiliates, segment revenues were down on lower average sales price and sales volumes. The difference between coal sales volumes and coal production in second quarter 2014 was due to an increase in raw coal purchases.

• Adjusted EBITDA reflects the negative impact of lower average sales price and volumes, offset by a $4.3 million favorable fair value adjustment to a Harold Keene Coal Co., Inc. (HKCC) contingent consideration arrangement and $4 per ton reduction in cash production costs.

• Effective third quarter 2014, the Coal Mining segment will be considered as “held for sale” and will be reflected as discontinued operations for future financial reporting.

Coal Logistics

The Coal Logistics segment consists of the coal handling and blending services operated by SXCP as a result of its acquisitions of Lake Terminal in third quarter 2013 and Kanawha River Terminals, LLC (KRT) in fourth quarter 2013. SXCP’s coal handling and blending terminals are located in East Chicago, Indiana and along the Ohio, Big Sandy and Kanawha Rivers in West Virginia and Kentucky.

• Coal Logistics handled 5,605 thousand tons of coal, contributing $5.0 million to Adjusted EBITDA.

Corporate and Other

Corporate and other expenses in second quarter 2014 were $9.6 million, up $0.9 million compared to second quarter 2013 primarily due to expenses related to the dropdown transaction with SXCP.

Interest Expense, Net

Net interest expense increased $15.0 million to $27.1 million in second quarter 2014 versus second quarter 2013. Of the $15.0 million increase, $11.4 million related to tender premium paid on the redemption of $160 million of our 7.625 percent senior notes and $4.0 million related to debt extinguishment fees for the early paydown of a term loan.

3

Cash Flow

Net cash provided by operations was $14.8 million for the six months ended June 30, 2014 versus $89.0 million in same respective period in 2013, primarily reflecting the impact of lower net income, dropdown financing costs and changes in working capital.

Cash used in investing activities was $77.8 million in six months ended June 30, 2014 as compared with $129.1 million in same respective period in 2013, which included our $67.7 million investment in the VISA SunCoke joint venture.

2014 OUTLOOK

Our 2014 guidance is as follows:

• Domestic coke production is expected to be approximately 4.2 million tons

• Excluding impairment charge and costs related to the exit from our Coal Mining segment, consolidated Adjusted EBITDA is expected to be between $220 million and $240 million. Adjusted EBITDA attributable to SXC is expected to be between $160 million and $177 million

• Adjusted EBITDA from continuing operations is expected to be between $235 million and $255 million

• Capital expenditures are projected to be $138 million. Approximately $36 million of the projected 2014 capital expenditures were pre-funded with the proceeds from SXCP’s initial public offering in January 2013

RELATED COMMUNICATIONS

We will host a investor conference call on July 24, 2014 at 11:30 a.m. Eastern Time (10:30 a.m. Central Time). This conference call will be webcast live and archived for replay on the Investor Relations section of www.suncoke.com. Participants can listen in by dialing 1-800-351-9852 (domestic) or 1-847-413-3123 (international) and referencing confirmation 37609669. Please log in or dial in at least 10 minutes prior to the start time to ensure a connection. A replay of the call will be available for two weeks by calling 1-888-843-7419 (domestic) or 1-630-652-3042 (international) and referencing confirmation 3760 9669#.

UPCOMING EVENTS

We plan to participate in the following investor conferences:

• Citi’s 2014 One-on-One MLP/Midstream Infrastructure Conference on August 20-21, 2014 in Las Vegas, NV

• Barclays 2014 CEO Energy-Power Conference on September 2-4, 2014 in New York, NY

• Deutsche Bank’s 22nd Annual Leveraged Finance Conference on September 29-October 1, 2014 in Scottsdale, AZ

SUNCOKE ENERGY, INC.

SunCoke Energy, Inc. is the largest independent producer of coke in the Americas, with 50 years of experience supplying coke to the integrated steel industry. Our advanced, heat-recovery cokemaking process produces high-quality coke for use in steelmaking, typically captures waste heat for derivative energy resale and meets or exceeds environmental standards. Our U.S. cokemaking facilities are located in Virginia, Indiana, Ohio and Illinois. Outside the U.S., we have cokemaking operations in Vitoria, Brazil and Odisha, India. Our coal mining operations, which have more than 110 million tons of proven and probable reserves, are located in Virginia and West Virginia. In addition, through our 56 percent ownership of SXCP, we have an interest in SXCP’s coal logistics business, which has the collective capacity to blend and transload more than 30 million tons of coal annually. To learn more about SunCoke Energy, Inc., visit our website at www.suncoke.com.

4

DEFINITIONS

• Adjusted EBITDA represents earnings before interest, taxes, depreciation, depletion and amortization (“EBITDA”) adjusted for asset and goodwill impairment, sales discounts and the interest, taxes, depreciation, depletion and amortization attributable to our equity method investment. EBITDA reflects sales discounts included as a reduction in sales and other operating revenue. The sales discounts represent the sharing with customers of a portion of nonconventional fuel tax credits, which reduce our income tax expense. However, we believe our Adjusted EBITDA would be inappropriately penalized if these discounts were treated as a reduction of EBITDA since they represent sharing of a tax benefit that is not included in EBITDA. Accordingly, in computing Adjusted EBITDA, we have added back these sales discounts. Our Adjusted EBITDA also includes EBITDA attributable to our equity method investment. EBITDA and Adjusted EBITDA do not represent and should not be considered alternatives to net income or operating income under GAAP and may not be comparable to other similarly titled measures in other businesses. Management believes Adjusted EBITDA is an important measure of the operating performance of the Company’s net assets and provides useful information to investors because it highlights trends in our business that may not otherwise be apparent when relying solely on GAAP measures and because it eliminates items that have less bearing on our operating performance. Adjusted EBITDA is a measure of operating performance that is not defined by GAAP, does not represent and should not be considered a substitute for net income as determined in accordance with GAAP. Calculations of Adjusted EBITDA may not be comparable to those reported by other companies.

• Adjusted EBITDA attributable to SXC equals Adjusted EBITDA less Adjusted EBITDA attributable to noncontrolling interests.

• Adjusted EBITDA per Ton represents Adjusted EBITDA divided by tons sold.

FORWARD LOOKING STATEMENTS

Some of the statements included in this press release constitute “forward looking statements” (as defined in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended). Forward-looking statements include all statements that are not historical facts and may be identified by the use of such words as “believe,” “expect,” “plan,” “project,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “continue,” “may,” “will,” “should” or the negative of these terms or similar expressions. Forward-looking statements are inherently uncertain and involve significant known and unknown risks and uncertainties (many of which are beyond the control of the Company) that could cause actual results to differ materially.

Such risks and uncertainties include, but are not limited to domestic and international economic, political, business, operational, competitive, regulatory and/or market factors affecting the Company, as well as uncertainties related to: pending or future litigation, legislation, or regulatory actions; liability for remedial actions or assessments under existing or future environmental regulations; gains and losses related to acquisition, disposition or impairment of assets; recapitalizations; access to, and costs of, capital; the effects of changes in accounting rules applicable to the Company; and changes in tax, environmental and other laws and regulations applicable to the Company’s businesses.

Forward-looking statements are not guarantees of future performance, but are based upon the current knowledge, beliefs and expectations of Company management, and upon assumptions by the Company concerning future conditions, any or all of which ultimately may prove to be inaccurate. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company does not intend, and expressly disclaims any obligation, to update or alter its forward-looking statements (or associated cautionary language), whether as a result of new information, future events or otherwise after the date of this press release except as required by applicable law.

In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company has included in its filings with the Securities and Exchange Commission cautionary language identifying important factors (but not necessarily all the important factors) that could cause actual results to differ materially from those expressed in any forward-looking statement made by the Company. For information concerning these factors, see the Company’s Securities and Exchange Commission filings such as its annual and quarterly reports and current reports on Form 8-K, copies of which are available free of charge on the Company’s website at www.suncoke.com. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. Unpredictable or unknown factors not discussed in this release also could have material adverse effects on forward-looking statements.

###

5

SunCoke Energy, Inc.

Consolidated Statements of Operations

(Unaudited)

	Three Months Ended June 30,					Six Months Ended June 30,
	2014			2013		2014			2013
	(Dollars and shares in millions, except per share amounts)
Revenues
Sales and other operating revenue	$	371.7		$	403.6	$	729.7		$	855.1
Other income		0.5			0.1		2.1			2.5
Total revenues		372.2			403.7		731.8			857.6
Costs and operating expenses
Cost of products sold and operating expenses		290.0			332.4		594.0			714.8
Selling, general and administrative expenses		21.9			21.8		43.8			42.4
Depreciation, depletion and amortization		28.6			23.4		57.6			47.3
Asset and goodwill impairment		103.1			—		103.1			—
Total costs and operating expenses		443.6			377.6		798.5			804.5
Operating (loss) income		(71.4	)		26.1		(66.7	)		53.1
Interest expense, net		27.1			12.1		39.2			27.9
(Loss) income before income tax (benefit) expense and loss from equity method investment		(98.5	)		14.0		(105.9	)		25.2
Income tax (benefit) expense		(50.8	)		1.1		(55.0	)		5.9
Loss from equity method investment		0.9			0.2		1.5			0.2
Net (loss) income		(48.6	)		12.7		(52.4	)		19.1
Less: Net income attributable to noncontrolling interests		0.6			7.0		4.6			11.3
Net (loss) income attributable to SunCoke Energy, Inc.	$	(49.2	)	$	5.7	$	(57.0	)	$	7.8
(Loss) earnings attributable to SunCoke Energy, Inc. per common share:
Basic	$	(0.71	)	$	0.08	$	(0.82	)	$	0.11
Diluted	$	(0.71	)	$	0.08	$	(0.82	)	$	0.11
Weighted average number of common shares outstanding:
Basic		69.5			70.0		69.6			70.0
Diluted		69.5			70.2		69.6			70.2

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SunCoke Energy, Inc.

Consolidated Balance Sheets

	June 30, 2014			December 31, 2013
	(Unaudited)
	(Dollars in millions, except per share amounts)
Assets
Cash and cash equivalents	$	204.4		$	233.6
Receivables		70.3			91.5
Inventories		140.4			135.3
Income tax receivable		—			6.6
Deferred income taxes		12.6			12.6
Other current assets		5.7			2.3
Total current assets		433.4			481.9
Investment in Brazilian cokemaking operations		41.0			41.0
Equity method investment in VISA SunCoke Limited		58.5			56.8
Properties, plants and equipment, net		1,499.3			1,544.1
Lease and mineral rights, net		18.7			52.8
Goodwill and other intangible assets, net		18.9			25.4
Deferred charges and other assets		47.4			41.9
Total assets	$	2,117.2		$	2,243.9
Liabilities and Equity
Accounts payable	$	121.8		$	154.3
Accrued liabilities		52.3			69.5
Short-term debt, including current portion of long-term debt		13.0			41.0
Interest payable		14.9			18.2
Income taxes payable		3.3			—
Total current liabilities		205.3			283.0
Long-term debt		652.5			648.1
Accrual for black lung benefits		32.2			32.4
Retirement benefit liabilities		34.5			34.8
Deferred income taxes		305.9			376.6
Asset retirement obligations		18.4			17.9
Other deferred credits and liabilities		16.3			18.8
Total liabilities		1,265.1			1,411.6
Equity
Preferred stock, $0.01 par value. Authorized 50,000,000 shares; no issued and outstanding shares at June 30, 2014 and December 31, 2013		—			—
Common stock, $0.01 par value. Authorized 300,000,000 shares; issued and outstanding 69,289,348 and 69,636,785 shares at June 30, 2014 and December 31, 2013, respectively		0.7			0.7
Treasury stock 1,755,355 shares at June 30, 2014 and 1,255,355 at December 31, 2013		(30.0	)		(19.9	)
Additional paid-in capital		536.6			446.9
Accumulated other comprehensive loss		(11.7	)		(14.1	)
Retained earnings		86.8			143.8
Total SunCoke Energy, Inc. stockholders’ equity		582.4			557.4
Noncontrolling interests		269.7			274.9
Total equity		852.1			832.3
Total liabilities and equity	$	2,117.2		$	2,243.9

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SunCoke Energy, Inc.

Consolidated Statements of Cash Flows

(Unaudited)

	Six Months Ended June 30,
	2014			2013
	(Dollars in millions)
Cash Flows from Operating Activities:
Net (loss) income	$	(52.4	)	$	19.1
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Asset and goodwill impairment		103.1			—
Depreciation, depletion and amortization		57.6			47.3
Deferred income tax (benefit) expense		(69.9	)		3.4
Payments in excess of expense for retirement plans		(0.5	)		(0.9	)
Share-based compensation expense		5.3			3.6
Excess tax benefit from share-based awards		(0.2	)		—
Loss from equity method investment		1.5			0.2
Changes in working capital pertaining to operating activities:
Receivables		21.2			10.5
Inventories		(5.1	)		21.5
Accounts payable		(32.5	)		6.4
Accrued liabilities		(17.2	)		(16.2	)
Interest payable		(3.3	)		2.7
Income taxes		10.1			(5.9	)
Other		(2.9	)		(2.7	)
Net cash provided by operating activities		14.8			89.0
Cash Flows from Investing Activities:
Capital expenditures		(77.8	)		(61.4	)
Equity method investment in VISA SunCoke Limited		—			(67.7	)
Net cash used in investing activities		(77.8	)		(129.1	)
Cash Flows from Financing Activities:
Net proceeds from issuance of common units of SunCoke Energy Partners, L.P.		88.7			237.8
Proceeds from issuance of long-term debt		268.1			150.0
Repayment of long-term debt		(260.1	)		(225.0	)
Debt issuance costs		(6.7	)		(6.0	)
Proceeds from revolving facility		40.0			—
Repayment of revolving facility		(72.0	)		—
Cash distribution to noncontrolling interests		(14.8	)		(6.3	)
Shares repurchased		(10.1	)		(2.4	)
Proceeds from exercise of stock options		0.5			0.9
Excess tax benefit from share-based awards		0.2			—
Net cash provided by financing activities		33.8			149.0
Net (decrease) increase in cash and cash equivalents		(29.2	)		108.9
Cash and cash equivalents at beginning of period		233.6			239.2
Cash and cash equivalents at end of period	$	204.4		$	348.1

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SunCoke Energy, Inc.

Segment Financial and Operating Data

The following tables set forth financial and operating data for the three and six months ended June 30, 2014 and 2013:

	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	(Dollars in millions)
Sales and other operating revenues:
Domestic Coke	$	344.5		$	375.8		$	678.0		$	804.0
Brazil Coke		8.9			8.0			18.2			17.7
India Coke		0.1			—			0.1			—
Coal Mining		7.5			19.8			14.0			33.4
Coal Mining intersegment sales		35.4			32.9			69.3			65.1
Coal Logistics		10.7			—			19.4			—
Coal Logistics intersegment sales		4.5			—			8.7			—
Elimination of intersegment sales		(39.9	)		(32.9	)		(78.0	)		(65.1	)
Total	$	371.7		$	403.6		$	729.7		$	855.1
Adjusted EBITDA(1):
Domestic Coke	$	64.3		$	61.3		$	111.1		$	122.4
Brazil Coke		2.5			1.6			4.2			3.2
India Coke		(0.5	)		0.8			(0.4	)		0.8
Coal Mining		(1.2	)		(2.6	)		(9.2	)		(7.2	)
Coal Logistics		5.0			—			7.1			—
Corporate and Other		(9.6	)		(8.7	)		(18.7	)		(14.5	)
Total	$	60.5		$	52.4		$	94.1		$	104.7
Coke Operating Data:
Domestic Coke capacity utilization (%)		100			102			95			101
Domestic Coke production volumes (thousands of tons)		1,059			1,081			2,003			2,132
Domestic Coke sales volumes (thousands of tons)(2)		1,059			1,074			2,007			2,132
Domestic Coke Adjusted EBITDA per ton(3)	$	60.72		$	57.08		$	55.36		$	57.41
Brazilian Coke production—operated facility (thousands of tons)		413			217			665			433
Indian Coke sales (thousands of tons)(4)		85			26			207			26
Coal Operating Data(5):
Coal sales volumes (thousands of tons):
Internal use		340			281			667			558
Third parties		79			176			150			272
Total		419			457			817			830
Coal production (thousands of tons)		336			367			642			716
Purchased coal (thousands of tons)		139			91			230			109
Coal sales price per ton (excludes transportation costs)(6)	$	98.64		$	114.18		$	98.83		$	117.33
Coal cash production cost per ton(7)	$	112.93		$	117.36		$	115.48		$	121.96
Purchased coal cost per ton(8)	$	101.24		$	109.34		$	102.75		$	107.32
Total coal production cost per ton(9)	$	113.23		$	127.49		$	121.20		$	133.36
Coal Logistics Operating Data:
Tons handled (thousands of tons)		5,605		$	—			9,964		$	—
Coal Logistics Adjusted EBITDA per ton handled(10)	$	0.89		$	—		$	0.71		$	—

9

(1) See definition of Adjusted EBITDA and reconciliation to GAAP elsewhere in this release.

(2) Excludes 22 thousand tons of cosigned coke sales in the six months ended June 30, 2013.

(3) Reflects Domestic Coke Adjusted EBITDA divided by Domestic Coke sales volumes.

(4) Represents 100% of VISA SunCoke sales volumes.

(5) Includes production from Company and contract-operated mines.

(6) Includes sales to affiliates. The transfer price per ton to our Jewell cokemaking facility was $102.00 for both the three and six months ended June 30, 2014 and $114.20 for both the three and six months ended June 30, 2013, respectively.

(7) Mining and preparation costs, excluding depreciation, depletion and amortization, divided by coal production volume.

(8) Costs of purchased raw coal divided by purchased coal volume.

(9) Cost of mining and preparation costs, purchased raw coal costs, and depreciation, depletion and amortization divided by coal sales volume. Depreciation, depletion and amortization per ton were $12.89 and $11.68 for the three months ended June 30, 2014 and 2013, respectively and $13.10 and $12.45 for the six months ended June 30, 2014 and 2013, respectively.

(10) Reflects Coal Logistics Adjusted EBITDA divided by Coal Logistics tons handled.

10

SunCoke Energy, Inc.

Reconciliations of Non-GAAP Information

Adjusted EBITDA to Net Income

	Three Months Ended June 30,					Six Months Ended June 30,
	2014			2013		2014			2013
	(Dollars in millions)
Adjusted EBITDA attributable to SunCoke Energy, Inc.	$	46.0		$	41.7	$	70.3		$	85.6
Add: Adjusted EBITDA attributable to noncontrolling interest(1)		14.5			10.7		23.8			19.1
Adjusted EBITDA		60.5			52.4	$	94.1		$	104.7
Subtract:
Adjustments to unconsolidated affiliate earnings(2)		1.1			1.0		2.1			1.0
Depreciation, depletion and amortization		28.6			23.4		57.6			47.3
Interest expense, net		27.1			12.1		39.2			27.9
Income tax (benefit) expense		(50.8	)		1.1		(55.0	)		5.9
Sales discounts provided to customers due to sharing of nonconventional fuel tax credits(3)		—			2.1		(0.5	)		3.5
Asset and goodwill impairment		103.1					103.1
Net income	$	(48.6	)	$	12.7	$	(52.4	)	$	19.1

(1) Reflects non-controlling interest in Indiana Harbor and the portion of SXCP owned by public unitholders.

(2) Reflects estimated share of interest, taxes, depreciation and amortization related to VISA SunCoke.

(3) At December 31, 2013, we had $13.6 million accrued related to sales discounts to be paid to our customer at our Granite City facility. During the six months ended June 30, 2014, we settled this obligation for $13.1 million which resulted in a gain of $0.5 million. This gain is recorded in sales and other operating revenue on our Consolidated Statement of Operations.

11

Consolidated - Estimated 2014 Adjusted EBITDA to Estimated Net Income

	2014
	Low			High
Net Income	$	(30	)	$	(10	)
Depreciation, depletion and amortization(1)		115			105
Interest expense, net		68			65
Income tax expense		(39	)		(29	)
EBITDA	$	114		$	131
Sales discounts		(1	)		(1	)
Adjustment to unconsolidated affiliate earnings(2)		4			7
Goodwill and asset impairment charges		103			103
Adjusted EBITDA	$	220		$	240
EBITDA attributable to noncontrolling interests(3)		(60	)		(63	)
Adjusted EBITDA attributable to SXC	$	160		$	177

(1) Excludes depreciation, depletion and amortization in the Coal Mining segment for 2H 2014.

(2) Represents SXC share of India JV interest, taxes and depreciation expense.

(3) Represents Adjusted EBITDA attributable to SXCP public unitholders and to DTE Energy’s interest in Indiana Harbor.

Continuing Operations (excluding Coal Mining Segment) - Estimated 2014 Adjusted EBITDA to Estimated Net Income

	2014
	Low			High
Net Income	$	49		$	69
Depreciation, depletion and amortization(1)		100			95
Interest expense, net		68			65
Income tax expense		15			20
EBITDA	$	232		$	249
Sales discounts		(1	)		(1	)
Adjustment to unconsolidated affiliate earnings(2)		4			7
Adjusted EBITDA	$	235		$	255
EBITDA attributable to noncontrolling interests(3)		(60	)		(63	)
Adjusted EBITDA attributable to SXC	$	175		$	192

(1) Excludes depreciation, depletion and amortization in Coal Mining segment for FY 2014.

(2) Represents SXC share of India JV interest, taxes and depreciation expense.

(3) Represents Adjusted EBITDA attributable to SXCP public unitholders and to DTE Energy’s interest in Indiana Harbor.

12

EX-99.2

Exhibit 99.2

SunCoke Energy, Inc.
Q2 2014 Earnings
Conference Call
July 24, 2014
SunCoke Energy TM

Forward-Looking Statements
This slide presentation should be reviewed in conjunction with the Second Quarter 2014 earnings release of SunCoke Energy, Inc. (SXC) and the conference call held on July 24, 2014 at 11:30 a.m. ET.
Some of the information included in this presentation constitutes “forward-looking statements” as defined in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this presentation that express opinions, expectations, beliefs, plans, objectives, assumptions or projections with respect to anticipated future performance of SXC or SunCoke Energy Partners, L.P. (SXCP), in contrast with statements of historical facts, are forward-looking statements. Such forward-looking statements are based on management’s beliefs and assumptions and on information currently available. Forward-looking statements include information concerning possible or assumed future results of operations, business strategies, financing plans, competitive position, potential growth opportunities, potential operating performance improvements, the effects of competition and the effects of future legislation or regulations. Forward-looking statements include all statements that are not historical facts and may be identified by the use of forward-looking terminology such as the words “believe,” “expect,” “plan,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “continue,” “may,” “will,” “should” or the negative of these terms or similar expressions.
Although management believes that its plans, intentions and expectations reflected in or suggested by the forward-looking statements made in this presentation are reasonable, no assurance can be given that these plans, intentions or expectations will be achieved when anticipated or at all. Moreover, such statements are subject to a number of assumptions, risks and uncertainties. Many of these risks are beyond the control of SXC and SXCP, and may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Each of SXC and SXCP has included in its filings with the Securities and Exchange Commission cautionary language identifying important factors (but not necessarily all the important factors) that could cause actual results to differ materially from those expressed in any forward-looking statement. For more information concerning these factors, see the Securities and Exchange Commission filings of SXC and SXCP. All forward-looking statements included in this presentation are expressly qualified in their entirety by such cautionary statements. Although forward-looking statements are based on current beliefs and expectations, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date hereof. SXC and SXCP do not have any intention or obligation to update publicly any forward-looking statement (or its associated cautionary language) whether as a result of new information or future events or after the date of this presentation, except as required by applicable law.
This presentation includes certain non-GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. Reconciliations of non-GAAP financial measures to GAAP financial measures are provided in the Appendix at the end of the presentation. Investors are urged to consider carefully the comparable GAAP measures and the reconciliations to those measures provided in the Appendix.
SXC Q2 2014 Earnings Call 1

Q2 2014 Highlights
Operating Highlights
Coke operations recovered from weather-challenged Q1
- Achieved Adjusted EBITDA of $61/ton
Coal Logistics key contributor to results
Maintained strong Coke and Coal safety performance
Transitioning to Pure-Play GP
Completed first dropdown to SXCP
- GP/LP cash flows to SXC expected to be $11.2M in Q3
Coal Mining sale progressing
- Received several indicative offers from quality bidders
- Recorded $103M non-cash impairment charge
Initiating Capital Allocation Strategy
Board approved $150M share repurchase
- $75M to be executed via accelerated share repurchase
Strong financial position provides capacity to pursue growth and return cash to shareholders
SXC Q2 2014 Earnings Call 2
3

Q2 2014 Earnings Overview
Adjusted EBITDA(1,2,3)
($ in millions)
$52.3 $52.4 $33.6 $60.5
2013 2014
Q1 Q2
Earnings Per Share (diluted)
$0.03 $0.08
($0.11) ($0.71)
2013 2014
Q1 Q2
(1) For a definition and reconciliation of Adjusted EBITDA, please see appendix.
(2) Excludes $103M impairment charge on coal mining business.
(3) Includes benefit of $4.3M coal business contingent consideration.
(4) Excludes coal impairment charge and costs associated with exit of coal business.
Excluding impairment, Adj. EBITDA improved
Solid Domestic Coke performance on better Indiana Harbor results
Benefited from Coal Logistics
Favorable contingent consideration in Coal mitigated wider Adj. EBITDA loss
Q2 2014 EPS impacted by
Coal impairment charge
Dropdown transaction costs
Favorable NCI
Excluding impairment, re-affirm 2014 Adj. EBITDA outlook of $220M - $240M(4)
Continuing operations 2014 Adj. EBITDA expected to be $235M - $255M

Q2 2014 Financial Results
($ in millions, except volumes and per share) Q2’14 Q2’13 Q2’14 vs. Q2’13
Domestic Coke Sales Volumes 1,059 1,074 (15)
Coal Sales Volumes 419 457 (38)
Coal Transloading Volumes 5,605 - 5,605
Coke Adjusted EBITDA (1) $66.3 $63.7 $2.6
Coal Adjusted EBITDA (2,3) ($1.2) ($2.6) $1.4
Coal Logistics Adj. EBITDA $5.0 - $5.0
Corporate/Other ($9.6) ($8.7) ($0.9)
Adjusted EBITDA (2) $60.5 $52.4 $8.1
Revenue $371.7 $403.6 ($31.9)
Operating Income ($71.4) $26.1 ($97.5)
Net Income Attributable to Shareholders (4) ($49.2) $5.7 ($54.9)
Earnings Per Share (4) ($0.71) $0.08 ($0.79)
(1) Coke Adjusted EBITDA includes Domestic Coke, Brazil Coke and India Coke segments.
(2) For a definition and reconciliation of Adjusted EBITDA, please see appendix.
(3) Excludes coal impairment charge of $103M, but includes benefit of $4.3M HKCC contingent consideration fair value adjustment.
(4) Excluding coal business impairment charge, net income was $1.8M, or $0.03 per share.
Excluding impairment charge, Adj. EBITDA up 15%
Domestic Coke up slightly
– Indiana Harbor improved on higher fixed fee partly offset by lower production and higher costs
– Haverhill impacted by lower yield and higher outage costs
Coal segment up $1.4M on $4.3M contingent consideration adjustment
– Achieved cash production cost per ton target
– Continued price headwinds
Corporate includes $1.7M dropdown-related costs
4

Adjusted EBITDA(1,2) Bridge – Q2 ‘13 to Q2 ‘14
Adjusted EBITDA benefitted from Coal Logistics, better results at Indiana Harbor and favorable coal mining fair value adjustment
($ in millions)
$1.4 ($0.9)
$5.0 HKCC contingent consideration $4.3M
($1.7M) dropdown related costs
$0.8M lower incentive comp
$60.5
($0.4)
$2.8
$0.2
Fixed fee increase $3.4M
$52.4
Q2 2013
Adjusted EBITDA(1)
Domestic Coke
(excl. Indiana Harbor)
Indiana Harbor
International Coke (3)
Coal Logistics
Coal Mining
Corporate Costs
Q2 2014
Adjusted EBITDA (1)
(1) For a definition and reconciliation of Adjusted EBITDA, please see the appendix.
(2) Excludes Coal impairment charges of $103M in Q2 2014.
(3) Includes Brazil Coke and India Coke.
SXC Q2 2014 Earnings Call 5

Diluted EPS Bridge – Q2 ’13 to Q2 ’14
EPS reflects impact of impairment charge and dropdown financing costs partly offset by lower taxes and NCI
Indiana Harbor
Accel. Depr: ($0.06)
Tender premium ($0.16)
Debt extinguishment ($0.06)
$0.08 $0.12 ($0.07) ($0.22) ($0.74) $0.09 $0.03 ($0.71)
Q2 2013 EPS(1)
Adjusted EBITDA
DD&A
Interest Expense
Coal Impairment Charge, Net of Taxes
Noncontrolling Interest
Other
Q2 2014 EPS(1)
(1) EPS attributable to SXC
SXC Q2 2014 Earnings Call 6

Domestic Coke Business Summary
Achieved Adjusted EBITDA per ton $61; anticipate $60-$65 per ton average for balance of year
Domestic Coke Production
(thousands of tons)
1,081 1,0811,081 1,0561,081 944 1,059
158 153 154 150 155
171 176 172 153 177
297 295 291 264 279
276 273 255 199 264
179 184 184 178 184
Q2 ’13 Q3 ’13 Q4 ’13 Q1 ’14 Q2 ’14
Jewell Indiana Harbor Haverhill Granite City Middletown
Domestic Coke Adjusted EBITDA(1) Per Ton
($ in millions, except per ton amounts)
$ 57/ton $ 59/ton $ 54/ton $ 49/ton $ 61/ton
$61 $64 $57 $47 $64
Q2 ’13 Q3 ’13 Q4 ’13 Q1 ’14 Q2 ’14
Adjusted EBITDA Adjusted EBITDA/ton
(1) For a definition of Adjusted EBITDA and Adjusted EBITDA/Ton and reconciliations, see appendix.
SXC Q2 2014 Earnings Call 7

Indiana Harbor Performance
Demonstrated production improvement at above benchmark yield of 65%
Ramp-up to continue in 2H14
– Focus on maintaining yield and managing costs
– Continuing to execute repair and replacement work
Blast furnace restart underway
– Portion of July production sold under deferred payment terms
1H14 Adj. EBITDA of ~($1.1M):
– Expect 2014 Adj. EBITDA of $20M - $25M
2014E Coke Production
(thousands of tons)
199 264 270-280 290-300
Q1 2014A Q2 2014A Q3 2014E Q4 2014E
SXC Q2 2014 Earnings Call 8

Coal Mining Financial Summary
Coal Mining Adjusted EBITDA(1) and Avg. Sales
Price/Ton(2)
($ in millions, except per ton amounts)
$133(4) $118 (3) $123 $118 $113 $114
$120 $118 $99 $99 ($6) ($6)
($3) ($23) ($20) ($3) ($3) ($1)
($9)($8)
Q2 ‘13
Q3 ’13
Q4 ’13
Q1 ’14
Q2 ’14
Coal Adjusted EBITDA
Average Sales Price
Coal Adj EBITDA / ton
Coal Cash Cost / ton
Coal Sales, Production and Purchases
Q2 ’13
Q3 ’13
Q4 ’13
Q1 ’14
Q2 ’14
Coal Sales
457 433 389 398 419
Coal Production
367 350 275 306 336
Purchased Coal
91 110 115 91 139
Reject Rate (%)
70 70 70 68 69
(1) For a definition and a reconciliation of Adjusted EBITDA, please see the appendix.
(2) Avg. Sales Price is weighted avg. price for all sales, including to affiliates and Jewell Coke.
(3) Excludes the benefit of a $0.4 million decline in accrued potential fines and penalties.
(4) Excludes Black Lung liability charge of $1.7 million and charges for accrued potential fines and penalties of $0.2 million.
Coal operation performed as expected
Q2 up $1.4M versus last year
$4 per ton improvement in cash cost per ton offset by $16 per ton lower sales price
Achieved cash cost per ton target of $115
Sale process underway
Impairment charge of $103M; writedown to estimated fair value
Anticipate transaction by year end
Business now “held for sale”
Treated as discontinued operations beginning in Q3
9

SXC Liquidity Position
Ended quarter with strong cash position and revolver availability
($ in millions)
$285.4
($316.1)
$178.2
$204.4
$88.7
SXCP
$19.2
$103.1 ($66.8)
$28.6
$9.8 ($39.7) ($18.2)
$58.5
Revolver
($48.6)
Availability:
$241M
$159.0
Attributable
SXC Revolver
to SXCP
$145.9
Availability:
$148M
Q1 2014 Cash Balance
Net Income Impairment
Deferred Taxes
DD&A
Working Capital, Deferred Taxes & Other
Capex & Investments
SXCP Equity Issuance
Debt Issuance(1)
Debt Paydown(2)
Other Financing Activities(3)
Q2 2014 Cash Balance
(1) Includes $268.1M of proceeds from SXCP’s 7.375% senior notes, net of ($6.7M) of debt issuance costs plus $24M draw on SXCP revolver.
(2) Includes re-payment of the following: ($99.9M) SXC term loan, ($160M) 7.625% SXC senior notes and ($56M) SXCP revolver paydown.
(3) Includes $8.4M distribution to unitholders and $10.1M share purchases.
SXC Q2 2014 Earnings Call
10

Balance Sheet & Debt Metrics
Strong financial position provides flexibility to reinvest in growth opportunities and return cash to shareholders
($ in millions - as of 6/30/14)
SXC Consolidated
Attributable to SXCP
Balance Attributable to SXC
Cash $204 $59 $145
Revolver Capacity 389 241 148
Total Liquidity 593 300 293
Total Debt (Long and Short-term) 666 426 240
Net Debt (Total Debt less Cash) 462 367 95
FY 2014 Adj. EBITDA (midpoint)(1) $230 $145 $169
Total Debt/2014E Adj. EBITDA(1) 2.9x 2.9x 1.4x
Net Debt/2014E Adj. EBITDA(1) 2.0x 2.5x 0.6x
(1) For Consolidated and Balance Attributable to SXC, excludes coal impairment charge and is based on the mid-point of SXC 2014 Adjusted EBITDA guidance of $220-$240 million ($230M mid-point) and $160- $177 million ($169M mid-point), respectively. For SXCP, based on 2014 proforma Adjusted EBITDA guidance of $142-$148 million ($145M mid-point). Please see appendix for definition of Adjusted EBITDA.
SXC Q2 2014 Earnings Call 11

SXC Capital Allocation
Modest leverage and expected future dropdown proceeds provides flexibility to pursue growth and return cash
Capital Available
for Deployment
Reinvest
Distribute
Significant “dry powder” retained for future dropdowns
Transition to pure-play GP will unlock value to SXC shareholders
Share repurchase recognizes gap between market and intrinsic value of SXC shares
$150M share repurchase approved
$75M via ASR completed by November
$75M open market
SXCP can fund acquisitions directly via access to debt & equity markets
SXC Q2 2014 Earnings Call
12

Transitioning to Pure-Play GP
Executing Dropdown Plan
Expected proceeds and debt capacity provides flexibility to pursue growth and return capital
Anticipating GP/LP cash flow growth
Exiting Coal
Sale highlights value of continuing operations
Returning Cash to Shareholders
Approved share repurchase program of $150M
13
SXC Q2 2014 Earnings Call

QUESTIONS
SunCoke Energy TM
SXC Q2 2014 Earnings Call
14

Investor Relations: 630-824-1907 www.suncoke.com
SunCoke Energy TM

APPENDIX
SunCoke Energy TM
SXC Q2 2014 Earnings Call 16

Definitions
Adjusted EBITDA represents earnings before interest, taxes, depreciation, depletion and amortization (“EBITDA”) adjusted for asset and goodwill impairment, sales discounts and the interest, taxes, depreciation, depletion and amortization attributable to our equity method investment. EBITDA reflects sales discounts included as a reduction in sales and other operating revenue. The sales discounts represent the sharing with customers of a portion of nonconventional fuel tax credits, which reduce our income tax expense. However, we believe our Adjusted EBITDA would be inappropriately penalized if these discounts were treated as a reduction of EBITDA since they represent sharing of a tax benefit that is not included in EBITDA. Accordingly, in computing Adjusted EBITDA, we have added back these sales discounts. Our Adjusted EBITDA also includes EBITDA attributable to our equity method investment. EBITDA and Adjusted EBITDA do not represent and should not be considered alternatives to net income or operating income under GAAP and may not be comparable to other similarly titled measures in other businesses. Management believes Adjusted EBITDA is an important measure of the operating performance of the Company’s net assets and provides useful information to investors because it highlights trends in our business that may not otherwise be apparent when relying solely on GAAP measures and because it eliminates items that have less bearing on our operating performance. Adjusted EBITDA is a measure of operating performance that is not defined by GAAP, does not represent and should not be considered a substitute for net income as determined in accordance with GAAP. Calculations of Adjusted EBITDA may not be comparable to those reported by other companies.
EBITDA represents earnings before interest, taxes, depreciation, depletion and amortization.
Adjusted EBITDA attributable to SXC/SXCP equals Adjusted EBITDA less Adjusted EBITDA attributable to noncontrolling interests.
Adjusted EBITDA/Ton represents Adjusted EBITDA divided by tons sold.
SXC Q2 2014 Earnings Call
17

Reconciliation from Net Income to Adjusted EBITDA
$ in millions
Q2 2014
Q1 2014
FY 2013
Q4 2013
Q3 2013
Q2 2013
Q1 2013
Net Income (48.6) (3.8) 50.1 18.7 12.3 12.7 6.4
Add: Depreciation, depletion and amortization 28.6 29.0 96.0 25.5 23.2 23.4 23.9
Add: Interest expense, net 27.1 12.1 52.3 12.3 12.1 12.1 15.8
Add: Income tax (50.8) (4.2) 6.7 0.2 0.6 1.1 4.8
Add: Goodwill and asset impairment 103.1
EBITDA 59.4 33.1 205.1 56.7 48.2 49.3 50.9
Add: Sales discount - (0.5) 6.8 1.1 2.2 2.1 1.4
Add: Adjustment to unconsolidated affiliate earnings 1.1 1.0 3.2 1.9 0.3 1.0 -
Adjusted EBITDA 60.5 33.6 215.1 59.7 50.7 52.4 52.3
Adjusted EBITDA attributable to noncontrolling interests (14.5) (9.3) (41.2) (12.2) (9.9) (10.7) (8.4)
Adjusted EBITDA attributable to SXC 46.0 24.3 173.9 47.5 40.8 41.7 43.9
SXC Q2 2014 Earnings Call
18

Reconciliation of Segment Adjusted EBITDA and Adjusted EBITDA per ton
$ in millions, except per ton data
Domestic Coke
Brazil Coke
India Coke (1)
Coal Mining
Coal Logistics
Corporate
Combined
Q2 2014
Adjusted EBITDA 64.3 2.5 (0.5) (1.2) 5.0 (9.6) 60.5
Sales Volume (thousands of tons) 1,059 413 42 419 5,605
Adjusted EBITDA per Ton 60.72 6.05 (11.90) (2.86) 0.89
Q1 2014
Adjusted EBITDA 46.8 1.7 0.1 (8.0) 2.1 (9.1) 33.6
Sales Volume (thousands of tons) 948 252 60 398 4,359
Adjusted EBITDA per Ton 49.37 6.75 1.67 (20.10) 0.48
FY 2013
Adjusted EBITDA 243.2 16.1 0.9 (18.7) 4.7 (31.1) 215.1
Sales Volume (thousands of tons) 4,263 876 62 1,652 3,785
Adjusted EBITDA per Ton 57.05 18.38 14.52 (11.32) 1.24
Q4 2013
Adjusted EBITDA 56.5 11.4 2.2 (8.9) 4.0 (5.5) 59.7
Sales Volume (thousands of tons) 1,047 222 26 389 3,649
Adjusted EBITDA per Ton 53.96 51.35 84.62 (22.88) 1.10
Q3 2013
Adjusted EBITDA 64.3 1.5 (2.1) (2.6) 0.7 (11.1) 50.7
Sales Volume (thousands of tons) 1,084 221 23 433 136
Adjusted EBITDA per Ton 59.32 6.79 (91.30) (6.00) 5.15
Q2 2013
Adjusted EBITDA 61.3 1.6 0.8 (2.6) N/A (8.7) 52.4
Sales Volume (thousands of tons) 1,074 217 13 457 N/A
Adjusted EBITDA per Ton 57.08 7.37 61.54 (5.69) N/A
(1) Represents SunCoke’s 49% share in Visa SunCoke production and results.
SXC Q2 2014 Earnings Call
19

2014E Consolidated Adj. EBITDA Reconciliation TM
2014E 2014E
(in millions) Low High
Net Income ($30) ($10)
Depreciation, depletion and amortization(1) 115 105
Interest expense, net 68 65
Income tax expense (benefit) (39) (29)
EBITDA $114 $131
Sales discounts (1) (1)
Adjustment to unconsolidated affiliate earnings(2) 4 7
Goodwill and asset impairment charges 103 103
Adjusted EBITDA $220 $240
EBITDA attributable to noncontrolling interests(3) (60) (63)
Adjusted EBITDA attributable to SXC $160 $177
(1) Excludes depreciation, depletion and amortization on coal mining segment for 2H 2014.
(2) Represents SXC share of India JV interest, taxes and depreciation expense.
(3) Represents Adjusted EBITDA attributable to SXCP public unitholders and DTE Energy’s interest in Indiana Harbor.
SXC Q2 2014 Earnings Call
20

2014E Adj. EBITDA Reconciliation (Continuing Operations) TM
Continuing Operations (excluding Coal Mining Segment)
2014E 2014E
(in millions) Low High
Net Income $49 $69
Depreciation, depletion and amortization(1) 100 95
Interest expense, net 68 65
Income tax expense (benefit) 15 20
EBITDA $232 $249
Sales discounts (1) (1)
Adjustment to unconsolidated affiliate earnings(2) 4 7
Adjusted EBITDA $235 $255
EBITDA attributable to noncontrolling interests(3) (60) (63)
Adjusted EBITDA attributable to SXC $175 $192
(1) Excludes depreciation, depletion and amortization in coal mining segment for FY 2014.
(2) Represents SXC share of India JV interest, taxes and depreciation expense.
(3) Represents Adjusted EBITDA attributable to SXCP public unitholders and DTE Energy’s interest in Indiana Harbor.
SXC Q2 2014 Earnings Call
21

Capital Expenditures & Investments
SXCP TM
Consolidated Capex
($ in millions)
2014E(1)
On-Going(2) $71
Environmental Project $42
Indiana Harbor $25
Refurbishment
Total CapEx $138
Investments -
Total CapEx & Investments $138
(1) Does not include spending to initiate construction of potential new coke plant (~$16M).
(2) Includes $16M in ongoing coal, $3M in ongoing coal logistics and $49M in ongoing coke capex including $14M related to Indiana Harbor oven floor and sole flue replacement work.
SXC Q2 2014 Earnings Call
22