| Supplemental Condensed Consolidating Financial Information |
15. Supplemental Condensed Consolidating Financial Information Certain 100 percent owned subsidiaries of the Company serve as guarantors of the obligations under the Credit Agreement and $44.6 million of Notes (“Guarantor Subsidiaries”). These guarantees are full and unconditional (subject, in the case of the Guarantor Subsidiaries, to customary release provisions as described below) and joint and several. For purposes of the following footnote, SunCoke Energy, Inc. is referred to as “Issuer.” The indenture dated July 26, 2011 among the Company, the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., governs subsidiaries designated as “Guarantor Subsidiaries.” All other consolidated subsidiaries of the Company are collectively referred to as “Non-Guarantor Subsidiaries.” The ability of the Partnership and Indiana Harbor to pay dividends and make loans to the Company is restricted under the partnership agreements of the Partnership and Indiana Harbor, respectively. The credit agreement governing the Partnership’s credit facility and the indenture governing the Partnership Notes contain customary provisions which would potentially restrict the Partnership’s ability to make distributions or loans to the Company under certain circumstances. For the year ended December 31, 2016, less than 25 percent of net assets were restricted. Additionally, certain coal mining entities are designated as unrestricted subsidiaries. As such, all the subsidiaries described above are presented as "Non-Guarantor Subsidiaries." There have been no changes to the "Guarantor Subsidiaries" and "Non-Guarantor Subsidiaries" during 2017. The guarantee of a Guarantor Subsidiary will terminate upon: | | • | a sale or other disposition of the Guarantor Subsidiary or of all or substantially all of its assets; |
| | • | a sale of the majority of the Capital Stock of a Guarantor Subsidiary to a third-party, after which the Guarantor Subsidiary is no longer a "Restricted Subsidiary" in accordance with the indenture governing the Notes; |
| | • | the liquidation or dissolution of a Guarantor Subsidiary so long as no "Default" or "Event of Default", as defined under the indenture governing the Notes, has occurred as a result thereof; |
| | • | the designation of a Guarantor Subsidiary as an "unrestricted subsidiary" in accordance with the indenture governing the Notes; |
| | • | the requirements for defeasance or discharge of the indentures governing the Notes having been satisfied; and |
| | • | the release, other than the discharge through payments by a Guarantor Subsidiary, from its guarantee under the Credit Agreement or other indebtedness that resulted in the obligation of the Guarantor Subsidiary under the indenture governing the Notes. |
The following supplemental condensed combining and consolidating financial information reflects the Issuer’s separate accounts, the combined accounts of the Guarantor Subsidiaries, the combined accounts of the Non-Guarantor Subsidiaries, the combining and consolidating adjustments and eliminations and the Issuer’s consolidated accounts for the dates and periods indicated. For purposes of the following condensed combining and consolidating information, the Issuer’s investments in its subsidiaries and the Guarantor and Non-Guarantor Subsidiaries’ investments in its subsidiaries are accounted for under the equity method of accounting. SunCoke Energy, Inc. Condensed Consolidating Statement of Operations Three Months Ended September 30, 2017 (Dollars in millions) | | | | | | | | | | | | | | | | | | | | | | | | Issuer | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Combining and Consolidating Adjustments | | Total | | | | | | | | | | | | Revenues | | | | | | | | | | | Sales and other operating revenue | | $ | — |
| | $ | 53.6 |
| | $ | 286.5 |
| | $ | (1.1 | ) | | $ | 339.0 |
| Equity in earnings (loss) of subsidiaries | | 14.2 |
| | 6.6 |
| | — |
| | (20.8 | ) | | — |
| Total revenues, net of equity earnings (loss) of subsidiaries | | 14.2 |
| | 60.2 |
| | 286.5 |
| | (21.9 | ) | | 339.0 |
| Costs and operating expenses | | | | | | | | | | | Cost of products sold and operating expense | | — |
| | 40.5 |
| | 217.8 |
| | (1.1 | ) | | 257.2 |
| Selling, general and administrative expense | | 1.5 |
| | 3.4 |
| | 12.8 |
| | — |
| | 17.7 |
| Depreciation and amortization expense | | — |
| | 1.8 |
| | 28.8 |
| | — |
| | 30.6 |
| Total costs and operating expenses | | 1.5 |
| | 45.7 |
| | 259.4 |
| | (1.1 | ) | | 305.5 |
| Operating income | | 12.7 |
| | 14.5 |
| | 27.1 |
| | (20.8 | ) | | 33.5 |
| Interest (income) expense, net - affiliate | | — |
| | (1.9 | ) | | 1.9 |
| | — |
| | — |
| Interest expense (income), net | | 1.3 |
| | (0.1 | ) | | 14.9 |
| | — |
| | 16.1 |
| Total interest expense (income), net | | 1.3 |
|
| (2.0 | ) |
| 16.8 |
|
| — |
| | 16.1 |
| Loss on extinguishment of debt | | — |
| | — |
| | 0.1 |
| | — |
| | 0.1 |
| Income before income tax benefit | | 11.4 |
|
| 16.5 |
|
| 10.2 |
|
| (20.8 | ) | | 17.3 |
| Income tax benefit | | (0.2 | ) | | (1.2 | ) | | (0.1 | ) | | — |
| | (1.5 | ) | Net income | | 11.6 |
|
| 17.7 |
|
| 10.3 |
|
| (20.8 | ) |
| 18.8 |
| Less: Net income attributable to noncontrolling interests | | — |
| | — |
| | 7.2 |
| | — |
| | 7.2 |
| Net income attributable to SunCoke Energy, Inc. | | $ | 11.6 |
| | $ | 17.7 |
| | $ | 3.1 |
| | $ | (20.8 | ) | | $ | 11.6 |
| Comprehensive income | | $ | 12.0 |
| | $ | 17.7 |
| | $ | 10.7 |
| | $ | (21.2 | ) | | $ | 19.2 |
| Less: Comprehensive income attributable to noncontrolling interests | | — |
| | — |
| | 7.2 |
| | — |
| | 7.2 |
| Comprehensive income attributable to SunCoke Energy, Inc. | | $ | 12.0 |
| | $ | 17.7 |
| | $ | 3.5 |
| | $ | (21.2 | ) | | $ | 12.0 |
|
SunCoke Energy, Inc. Condensed Consolidating Statement of Operations Three Months Ended September 30, 2016 (Dollars in millions) | | | | | | | | | | | | | | | | | | | | | | | | Issuer | | Guarantor
Subsidiaries | | Non-
Guarantor
Subsidiaries | | Combining
and
Consolidating
Adjustments | | Total | | | | | | | | | | | | Revenues | | | | | | | | | | | Sales and other operating revenue | | $ | — |
| | $ | 43.0 |
| | $ | 251.9 |
| | $ | (1.0 | ) | | $ | 293.9 |
| Equity in earnings (loss) of subsidiaries | | 3.5 |
| | 15.4 |
| | — |
| | (18.9 | ) | | — |
| Total revenues, net of equity in earnings (loss) of subsidiaries | | 3.5 |
| | 58.4 |
| | 251.9 |
| | (19.9 | ) | | 293.9 |
| Costs and operating expenses | | | | | | | | | | | Cost of products sold and operating expenses | | — |
| | 31.9 |
| | 186.7 |
| | (1.0 | ) | | 217.6 |
| Selling, general and administrative expenses | | 3.1 |
| | 6.3 |
| | 12.4 |
| | — |
| | 21.8 |
| Depreciation and amortization expense
| | — |
| | 2.4 |
| | 23.2 |
| | — |
| | 25.6 |
| Total costs and operating expenses | | 3.1 |
|
| 40.6 |
|
| 222.3 |
|
| (1.0 | ) |
| 265.0 |
| Operating income (loss) | | 0.4 |
| | 17.8 |
| | 29.6 |
| | (18.9 | ) | | 28.9 |
| Interest (income) expense, net - affiliate | | — |
| | (1.8 | ) | | 1.8 |
| | — |
| | — |
| Interest expense, net | | 1.4 |
| | — |
| | 11.5 |
| | — |
| | 12.9 |
| Total interest expense (income), net
| | 1.4 |
|
| (1.8 | ) |
| 13.3 |
|
| — |
| | 12.9 |
| Gain on extinguishment of debt | | — |
| | — |
| | (1.0 | ) | | — |
| | (1.0 | ) | (Loss) income before income tax expense | | (1.0 | ) |
| 19.6 |
|
| 17.3 |
|
| (18.9 | ) |
| 17.0 |
| Income tax (benefit) expense | | (7.1 | ) | | 12.6 |
| | (2.9 | ) | | — |
| | 2.6 |
| Net income (loss) | | 6.1 |
|
| 7.0 |
|
| 20.2 |
|
| (18.9 | ) |
| 14.4 |
| Less: Net income attributable to noncontrolling interests | | — |
| | — |
| | 8.3 |
| | — |
| | 8.3 |
| Net income (loss) attributable to SunCoke Energy, Inc. | | $ | 6.1 |
| | $ | 7.0 |
| | $ | 11.9 |
| | $ | (18.9 | ) | | $ | 6.1 |
| Comprehensive income (loss) | | $ | 6.0 |
| | $ | 6.9 |
| | $ | 20.1 |
| | $ | (18.7 | ) | | $ | 14.3 |
| Less: Comprehensive income attributable to noncontrolling interests | | — |
| | — |
| | 8.3 |
| | — |
| | 8.3 |
| Comprehensive income (loss) attributable to SunCoke Energy, Inc. | | $ | 6.0 |
| | $ | 6.9 |
| | $ | 11.8 |
| | $ | (18.7 | ) | | $ | 6.0 |
|
SunCoke Energy, Inc. Condensed Consolidating Statements of Operations Nine Months Ended September 30, 2017 (Dollars in millions) | | | | | | | | | | | | | | | | | | | | | | | | Issuer | | Guarantor
Subsidiaries | | Non-
Guarantor
Subsidiaries | | Combining
and
Consolidating
Adjustments | | Total | | | | | | | | | | | | Revenues | | | | | | | | | | | Sales and other operating revenue | | $ | — |
| | $ | 156.0 |
| | $ | 819.2 |
| | $ | (3.3 | ) | | $ | 971.9 |
| Equity in earnings (loss) of subsidiaries | | 0.7 |
| | (95.5 | ) | | — |
| | 94.8 |
| | — |
| Total revenues, net of equity in earnings (loss) of subsidiaries | | 0.7 |
| | 60.5 |
| | 819.2 |
| | 91.5 |
| | 971.9 |
| Costs and operating expenses | | | | | | | | | | | Cost of products sold and operating expense | | — |
| | 116.0 |
| | 636.1 |
| | (3.3 | ) | | 748.8 |
| Selling, general and administrative expense | | 6.5 |
| | 18.4 |
| | 36.6 |
| | — |
| | 61.5 |
| Depreciation and amortization expense
| | — |
| | 5.6 |
| | 91.6 |
| | — |
| | 97.2 |
| Total costs and operating expenses | | 6.5 |
| | 140.0 |
| | 764.3 |
| | (3.3 | ) | | 907.5 |
| Operating (loss) income | | (5.8 | ) | | (79.5 | ) | | 54.9 |
| | 94.8 |
| | 64.4 |
| Interest (income) expense, net - affiliate | | — |
| | (5.6 | ) | | 5.6 |
| | — |
| | — |
| Interest expense (income), net | | 3.8 |
| | (0.3 | ) | | 41.5 |
| | — |
| | 45.0 |
| Total interest expense (income), net | | 3.8 |
| | (5.9 | ) | | 47.1 |
| | — |
| | 45.0 |
| Loss on extinguishment of debt | | 0.4 |
| | — |
| | 20.0 |
| | — |
| | 20.4 |
| (Loss) income before income tax expense | | (10.0 | ) | | (73.6 | ) | | (12.2 | ) | | 94.8 |
| | (1.0 | ) | Income tax expense (benefit) | | 1.6 |
| | (87.2 | ) | | 155.0 |
| | — |
| | 69.4 |
| Net (loss) income | | (11.6 | ) | | 13.6 |
| | (167.2 | ) | | 94.8 |
| | (70.4 | ) | Less: Net loss attributable to noncontrolling interests | | — |
| | — |
| | (58.8 | ) | | — |
| | (58.8 | ) | Net (loss) income attributable to SunCoke Energy, Inc. | | $ | (11.6 | ) | | $ | 13.6 |
| | $ | (108.4 | ) | | $ | 94.8 |
| | $ | (11.6 | ) | Comprehensive (loss) income | | $ | (11.4 | ) | | $ | 13.6 |
| | $ | (167.0 | ) | | $ | 94.6 |
| | $ | (70.2 | ) | Less: Comprehensive loss attributable to noncontrolling interests | | — |
| | — |
| | (58.8 | ) | | — |
| | (58.8 | ) | Comprehensive (loss) income attributable to SunCoke Energy, Inc. | | $ | (11.4 | ) | | $ | 13.6 |
| | $ | (108.2 | ) | | $ | 94.6 |
| | $ | (11.4 | ) |
SunCoke Energy, Inc. Condensed Consolidating Statements of Operations Nine Months Ended September 30, 2016 (Dollars in millions) | | | | | | | | | | | | | | | | | | | | | | | | Issuer | | Guarantor
Subsidiaries | | Non-
Guarantor
Subsidiaries | | Combining
and
Consolidating
Adjustments | | Total | | | | | | | | | | | | Revenues | | | | | | | | | | | Sales and other operating revenue | | $ | — |
| | $ | 127.9 |
| | $ | 772.8 |
| | $ | (3.0 | ) | | $ | 897.7 |
| Equity in earnings (loss) of subsidiaries | | 2.1 |
| | 26.7 |
| | — |
| | (28.8 | ) | | — |
| Total revenues, net of equity in earnings (loss) of subsidiaries | | 2.1 |
| | 154.6 |
| | 772.8 |
| | (31.8 | ) | | 897.7 |
| Costs and operating expenses | | | | | | | | | | | Cost of products sold and operating expense | | — |
| | 97.4 |
| | 588.1 |
| | (3.0 | ) | | 682.5 |
| Selling, general and administrative expense | | 8.9 |
| | 22.1 |
| | 37.8 |
| | — |
| | 68.8 |
| Depreciation and amortization expense | | — |
| | 6.9 |
| | 75.5 |
| | — |
| | 82.4 |
| Loss on divestiture of business | | — |
| | — |
| | 14.7 |
| | — |
| | 14.7 |
| Total costs and operating expenses | | 8.9 |
| | 126.4 |
| | 716.1 |
| | (3.0 | ) | | 848.4 |
| Operating (loss) income | | (6.8 | ) | | 28.2 |
| | 56.7 |
| | (28.8 | ) | | 49.3 |
| Interest (income) expense, net - affiliate | | — |
| | (5.7 | ) | | 5.7 |
| | — |
| | — |
| Interest expense, net | | 4.6 |
| | — |
| | 35.7 |
| | — |
| | 40.3 |
| Total interest expense (income), net | | 4.6 |
| | (5.7 | ) | | 41.4 |
| | — |
| | 40.3 |
| Gain on extinguishment of debt | | — |
| | — |
| | (24.9 | ) | | — |
| | (24.9 | ) | (Loss) income before income tax (benefit) expense | | (11.4 | ) | | 33.9 |
| | 40.2 |
| | (28.8 | ) | | 33.9 |
| Income tax (benefit) expense | | (8.8 | ) | | 19.7 |
| | (5.0 | ) | | — |
| | 5.9 |
| Net (loss) income | | (2.6 | ) | | 14.2 |
| | 45.2 |
| | (28.8 | ) | | 28.0 |
| Less: Net income attributable to noncontrolling interests | | — |
| | — |
| | 30.6 |
| | — |
| | 30.6 |
| Net (loss) income attributable to SunCoke Energy, Inc. | | $ | (2.6 | ) | | $ | 14.2 |
| | $ | 14.6 |
| | $ | (28.8 | ) | | $ | (2.6 | ) | Comprehensive (loss) income | | $ | (1.6 | ) | | $ | 14.1 |
| | $ | 46.2 |
| | $ | (29.7 | ) | | $ | 29.0 |
| Less: Comprehensive income attributable to noncontrolling interests | | — |
| | — |
| | 30.6 |
| | — |
| | 30.6 |
| Comprehensive (loss) income attributable to SunCoke Energy, Inc. | | $ | (1.6 | ) | | $ | 14.1 |
| | $ | 15.6 |
| | $ | (29.7 | ) | | $ | (1.6 | ) |
SunCoke Energy, Inc. Condensed Consolidating Balance Sheet September 30, 2017 (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | | | | | | | | | | | Issuer | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Combining and Consolidating Adjustments | | Total | Assets | | | | | | | | | | | Cash and cash equivalents | | $ | — |
| | $ | 100.2 |
| | $ | 48.5 |
| | $ | — |
| | $ | 148.7 |
| Receivables | | — |
| | 15.0 |
| | 55.2 |
| | — |
| | 70.2 |
| Inventories | | — |
| | 10.4 |
| | 111.3 |
| | — |
| | 121.7 |
| Income tax receivable | | — |
| | — |
| | 85.6 |
| | (76.6 | ) | | 9.0 |
| Other current assets | | — |
| | 2.3 |
| | 4.8 |
| | — |
| | 7.1 |
| Advances to affiliate | | — |
| | 248.8 |
| | — |
| | (248.8 | ) | | — |
| Total current assets | | — |
| | 376.7 |
| | 305.4 |
| | (325.4 | ) | | 356.7 |
| Notes receivable from affiliate | | — |
| | 89.0 |
| | 300.0 |
| | (389.0 | ) | | — |
| Properties, plants and equipment, net | | — |
| | 60.3 |
| | 1,445.1 |
| | — |
| | 1,505.4 |
| Goodwill | | — |
| | 3.4 |
| | 73.5 |
| | — |
| | 76.9 |
| Other intangible assets, net | | — |
| | 1.8 |
| | 168.9 |
| | — |
| | 170.7 |
| Deferred charges and other assets | | — |
| | 4.1 |
| | 1.1 |
| | — |
| | 5.2 |
| Investment in subsidiaries | | 530.6 |
| | 723.5 |
| | — |
| | (1,254.1 | ) | | — |
| Total assets | | $ | 530.6 |
| | $ | 1,258.8 |
| | $ | 2,294.0 |
| | $ | (1,968.5 | ) | | $ | 2,114.9 |
| Liabilities and Equity | | | | | | | | | | | Advances from affiliate | | $ | 165.2 |
| | $ | — |
| | $ | 83.6 |
| | $ | (248.8 | ) | | $ | — |
| Accounts payable | | — |
| | 17.2 |
| | 120.9 |
| | — |
| | 138.1 |
| Accrued liabilities | | 1.0 |
| | 16.2 |
| | 33.9 |
| | — |
| | 51.1 |
| Deferred revenue | | — |
| | — |
| | 16.6 |
| | — |
| | 16.6 |
| Current portion of long-term debt and financing obligation | | — |
| | — |
| | 2.6 |
| | — |
| | 2.6 |
| Interest payable | | 0.6 |
| | — |
| | 17.0 |
| | — |
| | 17.6 |
| Income taxes payable | | 1.2 |
| | 75.4 |
| | — |
| | (76.6 | ) | | — |
| Total current liabilities | | 168.0 |
|
| 108.8 |
|
| 274.6 |
|
| (325.4 | ) | | 226.0 |
| Long-term debt and financing obligation | | 42.7 |
| | — |
| | 816.3 |
| | — |
| | 859.0 |
| Payable to affiliate | | — |
| | 300.0 |
| | 89.0 |
| | (389.0 | ) | | — |
| Accrual for black lung benefits | | — |
| | 13.0 |
| | 32.8 |
| | — |
| | 45.8 |
| Retirement benefit liabilities | | — |
| | 13.6 |
| | 13.8 |
| | — |
| | 27.4 |
| Deferred income taxes | | 21.7 |
| | 265.9 |
| | 130.3 |
| | — |
| | 417.9 |
| Asset retirement obligations | | — |
| | — |
| | 14.1 |
| | — |
| | 14.1 |
| Other deferred credits and liabilities | | 3.0 |
| | 6.8 |
| | 6.2 |
| | — |
| | 16.0 |
| Total liabilities | | 235.4 |
|
| 708.1 |
|
| 1,377.1 |
|
| (714.4 | ) | | 1,606.2 |
| Equity | | | | | | | | | |
| Preferred stock, $0.01 par value. Authorized 50,000,000 shares; no issued shares at September 30, 2017 | | — |
| | — |
| | — |
| | — |
| | — |
| Common stock, $0.01 par value. Authorized 300,000,000 shares; issued 71,819,720 shares at September 30, 2017 | | 0.7 |
| | — |
| | — |
| | — |
| | 0.7 |
| Treasury stock, 7,477,657 shares at September 30, 2017 | | (140.7 | ) | | — |
| | — |
| | — |
| | (140.7 | ) | Additional paid-in capital | | 487.9 |
| | 188.9 |
| | 643.4 |
| | (832.3 | ) | | 487.9 |
| Accumulated other comprehensive (loss) income | | (18.8 | ) | | (1.6 | ) | | (17.3 | ) | | 18.9 |
| | (18.8 | ) | Retained (deficit) earnings | | (33.9 | ) | | 363.4 |
| | 77.3 |
| | (440.7 | ) | | (33.9 | ) | Total SunCoke Energy, Inc. stockholders’ equity | | 295.2 |
| | 550.7 |
| | 703.4 |
| | (1,254.1 | ) | | 295.2 |
| Noncontrolling interests | | — |
| | — |
| | 213.5 |
| | — |
| | 213.5 |
| Total equity | | 295.2 |
| | 550.7 |
| | 916.9 |
| | (1,254.1 | ) | | 508.7 |
| Total liabilities and equity | | $ | 530.6 |
| | $ | 1,258.8 |
| | $ | 2,294.0 |
| | $ | (1,968.5 | ) | | $ | 2,114.9 |
|
SunCoke Energy, Inc. Condensed Consolidating Balance Sheet December 31, 2016 (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | | | | | | | | | | | Issuer | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Combining and Consolidating Adjustments | | Total | Assets | | | | | | | | | | | Cash and cash equivalents | | $ | — |
| | $ | 59.7 |
| | $ | 74.3 |
| | $ | — |
| | $ | 134.0 |
| Receivables | | — |
| | 12.2 |
| | 48.5 |
| | — |
| | 60.7 |
| Receivable from redemption of investment in Brazil | | — |
| | — |
| | 20.5 |
| | — |
| | 20.5 |
| Inventories | | — |
| | 9.0 |
| | 83.5 |
| | — |
| | 92.5 |
| Income tax receivable | | 17.8 |
| | — |
| | 74.3 |
| | (87.5 | ) | | 4.6 |
| Other current assets | | 0.2 |
| | 1.8 |
| | 1.8 |
| | — |
| | 3.8 |
| Advances to affiliate | | — |
| | 282.2 |
| | — |
| | (282.2 | ) | | — |
| Total current assets | | 18.0 |
| | 364.9 |
| | 302.9 |
| | (369.7 | ) | | 316.1 |
| Notes receivable from affiliate | | — |
| | 89.0 |
| | 300.0 |
| | (389.0 | ) | | — |
| Properties, plants and equipment, net | | — |
| | 62.8 |
| | 1,479.8 |
| | — |
| | 1,542.6 |
| Goodwill | | — |
| | 3.4 |
| | 73.5 |
| | — |
| | 76.9 |
| Other intangible assets, net | | — |
| | 2.3 |
| | 176.7 |
| | — |
| | 179.0 |
| Deferred charges and other assets | | — |
| | 5.1 |
| | 1.2 |
| | — |
| | 6.3 |
| Investment in subsidiaries | | 542.7 |
| | 688.2 |
| | — |
| | (1,230.9 | ) | | — |
| Total assets | | $ | 560.7 |
| | $ | 1,215.7 |
| | $ | 2,334.1 |
| | $ | (1,989.6 | ) | | $ | 2,120.9 |
| Liabilities and Equity | |
|
| |
|
| |
|
| |
|
| |
|
| Advances from affiliate | | $ | 184.2 |
| | $ | — |
| | $ | 98.0 |
| | $ | (282.2 | ) | | $ | — |
| Accounts payable | | — |
| | 13.6 |
| | 85.0 |
| | — |
| | 98.6 |
| Accrued liabilities | | 1.7 |
| | 20.5 |
| | 27.6 |
| | — |
| | 49.8 |
| Deferred revenue | | — |
| | — |
| | 2.5 |
| | — |
| | 2.5 |
| Current portion of long-term debt and financing obligation | | — |
| | — |
| | 4.9 |
| | — |
| | 4.9 |
| Interest payable | | 1.5 |
| | — |
| | 14.7 |
| | — |
| | 16.2 |
| Income taxes payable | | — |
| | 87.5 |
| | — |
| | (87.5 | ) | | — |
| Total current liabilities | | 187.4 |
|
| 121.6 |
|
| 232.7 |
|
| (369.7 | ) | | 172.0 |
| Long-term debt and financing obligation | | 43.5 |
| | — |
| | 805.7 |
| | — |
| | 849.2 |
| Payable to affiliate | | — |
| | 300.0 |
| | 89.0 |
| | (389.0 | ) | | — |
| Accrual for black lung benefits | | — |
| | 12.3 |
| | 33.1 |
| | — |
| | 45.4 |
| Retirement benefit liabilities | | — |
| | 14.1 |
| | 14.9 |
| | — |
| | 29.0 |
| Deferred income taxes | | 15.9 |
| | 371.0 |
| | (34.4 | ) | | — |
| | 352.5 |
| Asset retirement obligations | | — |
| | — |
| | 13.9 |
| | — |
| | 13.9 |
| Other deferred credits and liabilities | | 2.8 |
| | 6.4 |
| | 9.8 |
| | — |
| | 19.0 |
| Total liabilities | | 249.6 |
|
| 825.4 |
|
| 1,164.7 |
|
| (758.7 | ) | | 1,481.0 |
| Equity | | | | | | | | | |
| Preferred stock, $0.01 par value. Authorized 50,000,000 shares; no issued shares at December 31, 2016 | | — |
| | — |
| | — |
| | — |
| | — |
| Common stock, $0.01 par value. Authorized 300,000,000 shares; issued 71,707,304 shares at December 31, 2016 | | 0.7 |
| | — |
| | — |
| | — |
| | 0.7 |
| Treasury Stock, 7,477,657 shares at December 31, 2016 | | (140.7 | ) | | — |
| | — |
| | — |
| | (140.7 | ) | Additional paid-in capital | | 492.1 |
| | 42.1 |
| | 672.2 |
| | (714.3 | ) | | 492.1 |
| Accumulated other comprehensive (loss) income | | (19.0 | ) | | (1.6 | ) | | (17.4 | ) | | 19.0 |
| | (19.0 | ) | Retained (deficit) earnings | | (22.0 | ) | | 349.8 |
| | 185.8 |
| | (535.6 | ) | | (22.0 | ) | Total SunCoke Energy, Inc. stockholders’ equity | | 311.1 |
| | 390.3 |
| | 840.6 |
| | (1,230.9 | ) | | 311.1 |
| Noncontrolling interests | | — |
| | — |
| | 328.8 |
| | — |
| | 328.8 |
| Total equity | | 311.1 |
| | 390.3 |
| | 1,169.4 |
| | (1,230.9 | ) | | 639.9 |
| Total liabilities and equity | | $ | 560.7 |
| | $ | 1,215.7 |
| | $ | 2,334.1 |
| | $ | (1,989.6 | ) | | $ | 2,120.9 |
|
SunCoke Energy, Inc. Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2017 (Dollars in millions) | | | | | | | | | | | | | | | | | | | | | | | | Issuer | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Combining and Consolidating Adjustments | | Total | Cash Flows from Operating Activities: | | | | | | | | | | | Net (loss) income | | $ | (11.6 | ) | | $ | 13.6 |
| | $ | (167.2 | ) | | $ | 94.8 |
| | $ | (70.4 | ) | Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: | | | | | | | | | |
|
| Depreciation and amortization expense | | — |
| | 5.6 |
| | 91.6 |
| | — |
| | 97.2 |
| Deferred income tax expense (benefit) | | 6.0 |
| | (100.3 | ) | | 164.7 |
| | — |
| | 70.4 |
| Payments in excess of expense for postretirement plan benefits | | — |
| | (0.5 | ) | | (1.1 | ) | | — |
| | (1.6 | ) | Share-based compensation expense | | 3.9 |
| | — |
| | 0.2 |
| | — |
| | 4.1 |
| Equity in (earnings) loss of subsidiaries | | (0.7 | ) | | 95.5 |
| | — |
| | (94.8 | ) | | — |
| Loss on extinguishment of debt | | 0.4 |
| | — |
| | 20.0 |
| | — |
| | 20.4 |
| Changes in working capital pertaining to operating activities: | | | | | | | | | | | Receivables | | — |
| | (2.8 | ) | | (6.7 | ) | | — |
| | (9.5 | ) | Inventories | | — |
| | (1.4 | ) | | (27.8 | ) | | — |
| | (29.2 | ) | Accounts payable | | — |
| | 4.3 |
| | 28.6 |
| | — |
| | 32.9 |
| Accrued liabilities | | (0.7 | ) | | (4.3 | ) | | 6.3 |
| | — |
| | 1.3 |
| Deferred revenue | | — |
| | — |
| | 14.1 |
| | — |
| | 14.1 |
| Interest payable | | (0.9 | ) | | — |
| | 2.3 |
| | — |
| | 1.4 |
| Income taxes | | 19.0 |
| | (12.1 | ) | | (11.3 | ) | | — |
| | (4.4 | ) | Other | | 0.9 |
| | 1.6 |
| | (0.9 | ) | | — |
| | 1.6 |
| Net cash provided by (used in) operating activities | | 16.3 |
| | (0.8 | ) | | 112.8 |
| | — |
| | 128.3 |
| Cash Flows from Investing Activities: | | | | | | | | | |
|
| Capital expenditures | | — |
| | (3.3 | ) | | (46.3 | ) | | — |
| | (49.6 | ) | Decrease in restricted cash | | — |
| | — |
| | 0.1 |
| | — |
| | 0.1 |
| Return of Brazilian investment | | — |
| | — |
| | 20.5 |
| | — |
| | 20.5 |
| Net cash (used in) provided by investing activities | | — |
|
| (3.3 | ) |
| (25.7 | ) |
| — |
| | (29.0 | ) | Cash Flows from Financing Activities: | | | | | | | | | |
|
| Proceeds from issuance of long-term debt | | — |
| | — |
| | 620.6 |
| | — |
| | 620.6 |
| Repayment of long-term debt | | — |
| | — |
| | (644.9 | ) | | — |
| | (644.9 | ) | Repayment of financing obligation | | — |
| | — |
| | (1.8 | ) | | — |
| | (1.8 | ) | Proceeds from revolving facility
| | — |
| | — |
| | 268.0 |
| | — |
| | 268.0 |
| Repayment of revolving facility | | — |
| | — |
| | (240.0 | ) | | — |
| | (240.0 | ) | Debt issuance costs | | (1.7 | ) | | — |
| | (14.9 | ) | | — |
| | (16.6 | ) | Acquisition of additional interest in the Partnership | | — |
| | (33.6 | ) | | — |
| | — |
| | (33.6 | ) | Cash distribution to noncontrolling interests | | — |
| | — |
| | (36.0 | ) | | — |
| | (36.0 | ) | Other financing activities | | (0.3 | ) | | — |
| | — |
| | — |
| | (0.3 | ) | Net (decrease) increase in advances from affiliate | | (14.3 | ) | | 78.2 |
| | (63.9 | ) | | — |
| | — |
| Net cash (used in) provided by financing activities | | (16.3 | ) | | 44.6 |
| | (112.9 | ) | | — |
| | (84.6 | ) | Net increase (decrease) in cash and cash equivalents | | — |
|
| 40.5 |
|
| (25.8 | ) |
| — |
| | 14.7 |
| Cash and cash equivalents at beginning of period | | — |
| | 59.7 |
| | 74.3 |
| | — |
| | 134.0 |
| Cash and cash equivalents at end of period | | $ | — |
| | $ | 100.2 |
| | $ | 48.5 |
| | $ | — |
| | $ | 148.7 |
|
SunCoke Energy, Inc. Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2016 (Dollars in millions) | | | | | | | | | | | | | | | | | | | | | | | | Issuer | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Combining and Consolidating Adjustments | | Total | Cash Flows from Operating Activities: | | | | | | | | | | | Net (loss) income | | $ | (2.6 | ) | | $ | 14.2 |
| | $ | 45.2 |
| | $ | (28.8 | ) | | $ | 28.0 |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | | | | | | | | | |
|
| Loss of divestiture of business | | — |
| | — |
| | 14.7 |
| | — |
| | 14.7 |
| Depreciation and amortization expense | | — |
| | 6.9 |
| | 75.5 |
| | — |
| | 82.4 |
| Deferred income tax (benefit) expense | | (7.8 | ) | | 15.9 |
| | (3.6 | ) | | — |
| | 4.5 |
| Payments in excess of expense for postretirement plan benefits | | — |
| | (0.8 | ) | | (1.2 | ) | | — |
| | (2.0 | ) | Share-based compensation expense | | 5.0 |
| | — |
| | — |
| | — |
| | 5.0 |
| Equity in (earnings) loss of subsidiaries
| | (2.1 | ) | | (26.7 | ) | | — |
| | 28.8 |
| | — |
| Gain on extinguishment of debt | | — |
| | — |
| | (24.9 | ) | | — |
| | (24.9 | ) | Changes in working capital pertaining to operating activities (net of the effects of divestiture): | | | | | | | | | | | Receivables | | — |
| | (0.2 | ) | | 10.5 |
| | — |
| | 10.3 |
| Inventories | | — |
| | (4.0 | ) | | 28.1 |
| | — |
| | 24.1 |
| Accounts payable | | — |
| | 6.1 |
| | (9.6 | ) | | — |
| | (3.5 | ) | Accrued liabilities | | 0.5 |
| | 4.1 |
| | 2.1 |
| | — |
| | 6.7 |
| Deferred revenue | | — |
| | — |
| | 25.5 |
| | — |
| | 25.5 |
| Interest payable | | (0.9 | ) | | — |
| | (11.2 | ) | | — |
| | (12.1 | ) | Income taxes | | (13.1 | ) | | 3.1 |
| | 14.4 |
| | — |
| | 4.4 |
| Other | | 3.1 |
| | 8.8 |
| | (8.9 | ) | | — |
| | 3.0 |
| Net cash (used in) provided by operating activities | | (17.9 | ) | | 27.4 |
| | 156.6 |
| | — |
| | 166.1 |
| Cash Flows from Investing Activities: | | | | | | | | | | | Capital expenditures | | — |
| | (4.3 | ) | | (38.6 | ) | | — |
| | (42.9 | ) | Decrease in restricted cash | | — |
| | — |
| | 17.5 |
| | — |
| | 17.5 |
| Divestiture of business | | — |
| | — |
| | (12.8 | ) | | — |
| | (12.8 | ) | Other investing activities | | — |
| | — |
| | 2.1 |
| | — |
| | 2.1 |
| Net cash used in investing activities | | — |
| | (4.3 | ) | | (31.8 | ) | | — |
| | (36.1 | ) | Cash Flows from Financing Activities: | | | | | | | | | | | Net proceeds from issuance of SunCoke Energy Partners, L.P. units | | — |
| | — |
| | — |
| | — |
| | — |
| Repayment of long-term debt | | — |
| | — |
| | (60.8 | ) | | — |
| | (60.8 | ) | Proceeds from revolving facility | | — |
| | — |
| | 20.0 |
| | — |
| | 20.0 |
| Repayments of revolving facility | | (60.4 | ) | | — |
| | (25.0 | ) | | — |
| | (85.4 | ) | Debt issuance cost | | — |
| | — |
| | (0.2 | ) | | — |
| | (0.2 | ) | Proceeds from financing obligation | | — |
| | — |
| | 16.2 |
| | — |
| | 16.2 |
| Repayment of financing obligation | | — |
| | — |
| | (0.5 | ) | | — |
| | (0.5 | ) | Cash distribution to noncontrolling interests | |
|
| | — |
| | (36.9 | ) | | — |
| | (36.9 | ) | Other financing activities
| | (0.3 | ) | | (0.2 | ) | | — |
| | — |
| | (0.5 | ) | Net increase (decrease) in advances from affiliates | | 78.6 |
| | (64.4 | ) | | (14.2 | ) | | — |
| | — |
| Net cash provided by (used in) financing activities | | 17.9 |
|
| (64.6 | ) |
| (101.4 | ) |
| — |
| | (148.1 | ) | Net (decrease) increase in cash and cash equivalents | | — |
| | (41.5 | ) | | 23.4 |
| | — |
| | (18.1 | ) | Cash and cash equivalents at beginning of period | | — |
| | 70.6 |
| | 52.8 |
| | — |
| | 123.4 |
| Cash and cash equivalents at end of period | | $ | — |
|
| $ | 29.1 |
|
| $ | 76.2 |
|
| $ | — |
| | $ | 105.3 |
|
|