Supplemental Condensed Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidating Statements of Operations

SunCoke Energy, Inc.

Condensed Consolidating Statements of Operations

Three Months Ended September 30, 2019

(Dollars in millions)

	Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Combining and Consolidating Adjustments			Total
Revenues
Sales and other operating revenue	$	—		$	60.8		$	344.8		$	(1.3	)	$	404.3
Equity in loss of subsidiaries	(161.0		)	(231.5		)	—			392.5			—
Total revenues, net of equity earnings of subsidiaries	(161.0		)	(170.7		)	344.8			391.2			404.3
Costs and operating expenses
Cost of products sold and operating expense	—			48.7			272.0			(1.3		)	319.4
Selling, general and administrative expense	0.9			3.9			9.5			—			14.3
Depreciation and amortization expense	—			2.1			33.5			—			35.6
Long-lived asset and goodwill impairment	—			—			247.4			—			247.4
Total costs and operating expenses	0.9			54.7			562.4			(1.3		)	616.7
Operating loss	(161.9		)	(225.4		)	(217.6		)	392.5			(212.4		)
Interest (income) expense, net - affiliate	—			(4.0		)	4.0			—			—
Interest expense (income), net	1.6			(0.2		)	14.3			—			15.7
Total interest expense (income), net	1.6			(4.2		)	18.3			—			15.7
Loss (gain) on extinguishment of debt, net	0.4			—			(1.9		)	—			(1.5		)
Loss before income tax benefit	(163.9		)	(221.2		)	(234.0		)	392.5			(226.6		)
Income tax benefit	(0.9		)	(62.1		)	(0.5		)	—			(63.5		)
Net loss	(163.0		)	(159.1		)	(233.5		)	392.5			(163.1		)
Less: Net loss attributable to noncontrolling interests	—			—			(0.1		)	—			(0.1		)
Net loss attributable to SunCoke Energy, Inc.	$	(163.0	)	$	(159.1	)	$	(233.4	)	$	392.5		$	(163.0	)
Comprehensive loss	$	(163.9	)	$	(159.2	)	$	(234.3	)	$	393.4		$	(164.0	)
Less: Comprehensive loss attributable to noncontrolling interests	—			—			(0.1		)	—			(0.1		)
Comprehensive loss attributable to SunCoke Energy, Inc.	$	(163.9	)	$	(159.2	)	$	(234.2	)	$	393.4		$	(163.9	)

SunCoke Energy, Inc.

Condensed Consolidating Statements of Operations

Three Months Ended September 30, 2018

(Dollars in millions)

	Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Combining and Consolidating Adjustments			Total
Revenues
Sales and other operating revenue	$	—		$	55.0		$	310.5		$	(1.0	)	$	364.5
Equity in earnings of subsidiaries	13.0			6.4			—			(19.4		)	—
Total revenues, net of equity in earnings of subsidiaries	13.0			61.4			310.5			(20.4		)	364.5
Costs and operating expenses
Cost of products sold and operating expenses	—			42.9			241.4			(1.0		)	283.3
Selling, general and administrative expenses	1.2			3.3			11.2			—			15.7
Depreciation and amortization expense	—			1.9			33.5			—			35.4
Total costs and operating expenses	1.2			48.1			286.1			(1.0		)	334.4
Operating income	11.8			13.3			24.4			(19.4		)	30.1
Interest (income) expense, net - affiliate	—			(1.5		)	1.5			—			—
Interest expense (income), net	0.8			(0.3		)	14.9			—			15.4
Total interest expense (income), net	0.8			(1.8		)	16.4			—			15.4
Income before income tax benefit	11.0			15.1			8.0			(19.4		)	14.7
Income tax benefit	(0.6		)	(0.5		)	(1.3		)	—			(2.4		)
Net income	11.6			15.6			9.3			(19.4		)	17.1
Less: Net income attributable to noncontrolling interests	—			—			5.6			—			5.6
Net income attributable to SunCoke Energy, Inc.	$	11.6		$	15.6		$	3.7		$	(19.4	)	$	11.5
Comprehensive income	$	11.0		$	15.5		$	8.9		$	(18.8	)	$	16.6
Less: Comprehensive income attributable to noncontrolling interests	—			—			5.6			—			5.6
Comprehensive income attributable to SunCoke Energy, Inc.	$	11.0		$	15.5		$	3.3		$	(18.8	)	$	11.0

SunCoke Energy, Inc.

Condensed Consolidating Statements of Operations

Nine Months Ended September 30, 2019

(Dollars in millions)

	Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Combining and Consolidating Adjustments			Total
Revenues
Sales and other operating revenue	$	—		$	185.1		$	1,021.8		$	(3.8	)	$	1,203.1
Equity in loss of subsidiaries	(144.6		)	(168.6		)	—			313.2			—
Total revenues, net of equity in loss of subsidiaries	(144.6		)	16.5			1,021.8			309.4			1,203.1
Costs and operating expenses
Cost of products sold and operating expense	—			139.9			817.7			(3.8		)	953.8
Selling, general and administrative expense	5.5			11.4			36.0			—			52.9
Depreciation and amortization expense	—			6.3			103.5			—			109.8
Long-lived asset and goodwill impairment	—			—			247.4			—			247.4
Total costs and operating expenses	5.5			157.6			1,204.6			(3.8		)	1,363.9
Operating loss	(150.1		)	(141.1		)	(182.8		)	313.2			(160.8		)
Interest (income) expense, net - affiliate	—			(5.0		)	5.0			—			—
Interest expense (income), net	3.2			(1.3		)	43.7			—			45.6
Total interest expense (income), net	3.2			(6.3		)	48.7			—			45.6
Loss (gain) on extinguishment of debt, net	0.4			—			(1.9		)	—			(1.5		)
Loss before income tax (benefit) expense	(153.7		)	(134.8		)	(229.6		)	313.2			(204.9		)
Income tax (benefit) expense	(2.8		)	4.7			(59.2		)	—			(57.3		)
Net loss	(150.9		)	(139.5		)	(170.4		)	313.2			(147.6		)
Less: Net income attributable to noncontrolling interests	—			—			3.3			—			3.3
Net loss attributable to SunCoke Energy, Inc.	$	(150.9	)	$	(139.5	)	$	(173.7	)	$	313.2		$	(150.9	)
Comprehensive loss	$	(151.7	)	$	(139.7	)	$	(171.0	)	$	314.0		$	(148.4	)
Less: Comprehensive income attributable to noncontrolling interests	—			—			3.3			—			3.3
Comprehensive loss attributable to SunCoke Energy, Inc.	$	(151.7	)	$	(139.7	)	$	(174.3	)	$	314.0		$	(151.7	)

SunCoke Energy, Inc.

Condensed Consolidating Statements of Operations

Nine Months Ended September 30, 2018

(Dollars in millions)

	Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Combining and Consolidating Adjustments			Total
Revenues
Sales and other operating revenue	$	—		$	162.7		$	922.7		$	(3.4	)	$	1,082.0
Equity in earnings of subsidiaries	31.0			24.3			—			(55.3		)	—
Total revenues, net of equity in earnings of subsidiaries of subsidiaries	31.0			187.0			922.7			(58.7		)	1,082.0
Costs and operating expenses
Cost of products sold and operating expense	—			125.8			714.2			(3.4		)	836.6
Selling, general and administrative expense	5.2			10.0			34.0			—			49.2
Depreciation and amortization expense	—			5.9			94.4			—			100.3
Total costs and operating expenses	5.2			141.7			842.6			(3.4		)	986.1
Operating income	25.8			45.3			80.1			(55.3		)	95.9
Interest (income) expense, net - affiliate	—			(5.6		)	5.6			—			—
Interest expense (income), net	2.3			(0.7		)	45.3			—			46.9
Total interest expense (income), net	2.3			(6.3		)	50.9			—			46.9
Loss on extinguishment of debt	0.3			—			—			—			0.3
Income before income tax (benefit) expense	23.2			51.6			29.2			(55.3		)	48.7
Income tax (benefit) expense	(1.2		)	5.7			(2.7		)	—			1.8
Loss from equity method investment	—			—			5.4			—			5.4
Net income	24.4			45.9			26.5			(55.3		)	41.5
Less: Net income attributable to noncontrolling interests	—			—			17.1			—			17.1
Net income attributable to SunCoke Energy, Inc.	$	24.4		$	45.9		$	9.4		$	(55.3	)	$	24.4
Comprehensive income	$	31.6		$	45.7		$	33.9		$	(62.5	)	$	48.7
Less: Comprehensive income attributable to noncontrolling interests	—			—			17.1			—			17.1
Comprehensive income attributable to SunCoke Energy, Inc.	$	31.6		$	45.7		$	16.8		$	(62.5	)	$	31.6

Condensed Consolidating Balance Sheet

SunCoke Energy, Inc.

Condensed Consolidating Balance Sheet

September 30, 2019 

(Dollars in millions, except per share amounts)

	Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Combining and Consolidating Adjustments			Total
Assets
Cash and cash equivalents	$	—		$	71.8		$	21.9		$	—		$	93.7
Receivables, net	—			11.9			50.8			—			62.7
Inventories	—			16.5			140.5			—			157.0
Income tax receivable	—			—			101.9			(98.8		)	3.1
Other current assets	—			3.8			0.4			—			4.2
Advances to affiliate	—			290.5			—			(290.5		)	—
Total current assets	—			394.5			315.5			(389.3		)	320.7
Notes receivable from affiliate	—			—			200.0			(200.0		)	—
Properties, plants and equipment, net	—			51.1			1,338.4			—			1,389.5
Goodwill	—			3.4			—			—			3.4
Other intangible assets, net	—			0.6			34.8			—			35.4
Deferred income taxes	8.6			—			—			(8.6		)	—
Deferred charges and other assets	—			5.3			11.9			—			17.2
Total assets	$	8.6		$	454.9		$	1,900.6		$	(597.9	)	$	1,766.2
Liabilities and Equity
Advances from affiliate	$	147.8		$	—		$	142.7		$	(290.5	)	—
Accounts payable	—			17.0			102.8			—			119.8
Accrued liabilities	1.1			12.0			33.0			—			46.1
Deferred revenue	—			—			2.1			—			2.1
Current portion of long-term debt and financing obligation	—			—			2.9			—			2.9
Interest payable	—			—			14.4			—			14.4
Income taxes payable	0.3			98.5			—			(98.8		)	—
Total current liabilities	149.2			127.5			297.9			(389.3		)	185.3
Long-term debt and financing obligation	140.5			—			639.5			—			780.0
Payable to affiliate	—			200.0			—			(200.0		)	—
Accrual for black lung benefits	—			11.2			35.7			—			46.9
Retirement benefit liabilities	—			11.4			12.3			—			23.7
Deferred income taxes	—			146.1			9.4			(8.6		)	146.9
Asset retirement obligations	—			—			13.5			—			13.5
Other deferred credits and liabilities	3.1			7.9			12.1			—			23.1
Total liabilities	292.8			504.1			1,020.4			(597.9		)	1,219.4
Equity
Preferred stock, $0.01 par value. Authorized 50,000,000 shares; no issued shares at September 30, 2019	—			—			—			—			—
Common stock, $0.01 par value. Authorized 300,000,000 shares; issued 98,040,372 shares at September 30, 2019	1.0			—			—			—			1.0
Treasury stock, 9,544,132 shares at September 30, 2019	(153.9		)	—			—			—			(153.9		)
Additional paid-in capital	710.9			533.4			915.1			(1,448.5		)	710.9
Accumulated other comprehensive loss	(13.9		)	(2.2		)	(11.7		)	13.9			(13.9		)
Retained (deficit) earnings	(23.5		)	386.5			(49.4		)	(337.1		)	(23.5		)
Equity investment eliminations	(804.8		)	(966.9		)	—			1,771.7			—
Total SunCoke Energy, Inc. stockholders’ equity	(284.2		)	(49.2		)	854.0			—			520.6
Noncontrolling interests	—			—			26.2			—			26.2
Total equity	(284.2		)	(49.2		)	880.2			—			546.8
Total liabilities and equity	$	8.6		$	454.9		$	1,900.6		$	(597.9	)	$	1,766.2

SunCoke Energy, Inc.

Condensed Consolidating Balance Sheet

December 31, 2018

(Dollars in millions, except per share amounts)

	Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Combining and Consolidating Adjustments			Total
Assets
Cash and cash equivalents	$	—		$	123.2		$	22.5		$	—		$	145.7
Receivables	—			13.3			62.1			—			75.4
Inventories	—			10.6			99.8			—			110.4
Income tax receivable	—			—			96.1			(95.4		)	0.7
Other current assets	—			1.8			1.0			—			2.8
Advances to affiliate	—			281.1			—			(281.1		)	—
Total current assets	—			430.0			281.5			(376.5		)	335.0
Notes receivable from affiliate	—			—			200.0			(200.0		)	—
Properties, plants and equipment, net	—			54.3			1,416.8			—			1,471.1
Goodwill	—			3.4			73.5			—			76.9
Other intangible assets, net	—			1.1			155.7			—			156.8
Deferred income taxes	7.0			—			—			(7.0		)	—
Deferred charges and other assets	—			5.1			0.4			—			5.5
Total assets	$	7.0		$	493.9		$	2,127.9		$	(583.5	)	$	2,045.3
Liabilities and Equity
Advances from affiliate	$	167.3		$	—		$	113.8		$	(281.1	)	$	—
Accounts payable	—			14.7			100.3			—			115.0
Accrued liabilities	1.8			13.7			30.1			—			45.6
Deferred revenue	—			—			3.0			—			3.0
Current portion of long-term debt and financing obligation	1.1			—			2.8			—			3.9
Interest payable	0.4			—			3.2			—			3.6
Income taxes payable	1.9			93.5			—			(95.4		)	—
Total current liabilities	172.5			121.9			253.2			(376.5		)	171.1
Long-term debt and financing obligation	41.2			—			793.3			—			834.5
Payable to affiliate	—			200.0			—			(200.0		)	—
Accrual for black lung benefits	—			10.9			34.0			—			44.9
Retirement benefit liabilities	—			12.2			13.0			—			25.2
Deferred income taxes	—			194.9			66.8			(7.0		)	254.7
Asset retirement obligations	—			—			14.6			—			14.6
Other deferred credits and liabilities	3.5			6.6			7.5			—			17.6
Total liabilities	217.2			546.5			1,182.4			(583.5		)	1,362.6
Equity
Preferred stock, $0.01 par value. Authorized 50,000,000 shares; no issued and outstanding shares at December 31, 2018	—			—			—			—			—
Common stock, $0.01 par value. Authorized 300,000,000 shares; issued 72,223,750 shares at December 31, 2018	0.7			—			—			—			0.7
Treasury Stock, 7,477,657 shares at December 31, 2018	(140.7		)	—			—			—			(140.7		)
Additional paid-in capital	488.9			61.0			612.8			(673.9		)	488.8
Accumulated other comprehensive loss	(13.1		)	(2.0		)	(11.1		)	13.1			(13.1		)
Retained earnings	127.5			526.1			124.2			(650.4		)	127.4
Equity investment eliminations	(673.5		)	(637.7		)	—			1,311.2			—
Total SunCoke Energy, Inc. stockholders’ equity	(210.2		)	(52.6		)	725.9			—			463.1
Noncontrolling interests	—			—			219.6			—			219.6
Total equity	(210.2		)	(52.6		)	945.5			—			682.7
Total liabilities and equity	$	7.0		$	493.9		$	2,127.9		$	(583.5	)	$	2,045.3

Condensed Consolidating Statement of Cash Flows

SunCoke Energy, Inc.

Condensed Consolidating Statement of Cash Flows

Nine Months Ended September 30, 2019

(Dollars in millions)

	Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Combining and Consolidating Adjustments			Total
Cash Flows from Operating Activities:
Net loss	$	(150.9	)	$	(139.5	)	$	(170.4	)	$	313.2		$	(147.6	)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Long-lived asset and goodwill impairment	—			—			247.4			—			247.4
Depreciation and amortization expense	—			6.3			103.5			—			109.8
Deferred income tax benefit	(1.6		)	(48.8		)	(13.8		)	—			(64.2		)
Payments in excess of expense for postretirement plan benefits	—			(0.8		)	(0.7		)	—			(1.5		)
Share-based compensation expense	3.3			—			—			—			3.3
Equity in earnings of subsidiaries	144.6			168.6			—			(313.2		)	—
Loss (gain) on extinguishment of debt, net	0.4			—			(1.9		)	—			(1.5		)
Changes in working capital pertaining to operating activities:
Receivables, net	—			1.4			11.3			—			12.7
Inventories	—			(5.9		)	(40.7		)	—			(46.6		)
Accounts payable	—			2.7			3.3			—			6.0
Accrued liabilities	(0.7		)	(2.4		)	1.8			—			(1.3		)
Deferred revenue	—			—			(0.9		)	—			(0.9		)
Interest payable	(0.4		)	—			11.2			—			10.8
Income taxes	(1.6		)	5.0			(5.8		)	—			(2.4		)
Other	(4.8		)	(0.4		)	1.7						(3.5		)
Net cash (used in) provided by operating activities	(11.7		)	(13.8		)	146.0			—			120.5
Cash Flows from Investing Activities:
Capital expenditures	—			(2.5		)	(79.0		)	—			(81.5		)
Other investing activities	—			—			0.2			—			0.2
Net cash used in investing activities	—			(2.5		)	(78.8		)	—			(81.3		)
Cash Flows from Financing Activities:
Repayment of long-term debt	(43.8		)	—			(46.7		)	—			(90.5		)
Debt issuance costs	(2.0		)	—			—			—			(2.0		)
Proceeds from revolving facility	188.1			—			204.5			—			392.6
Repayment of revolving facility	(44.8		)	—			(309.5		)	—			(354.3		)
Repayment of financing obligation	—			—			(2.1		)	—			(2.1		)
Cash distribution to noncontrolling interests	—			—			(14.2		)	—			(14.2		)
Shares repurchased	(13.2		)	—			—			—			(13.2		)
Other financing activities	(1.7		)	—			(5.8		)	—			(7.5		)
Net (decrease) increase in advances from affiliates	(70.5		)	(35.1		)	105.6			—			—
Net cash provided by (used in) financing activities	12.1			(35.1		)	(68.2		)	—			(91.2		)
Net increase (decrease) in cash and cash equivalents	0.4			(51.4		)	(1.0		)	—			(52.0		)
Cash and cash equivalents at beginning of period	—			123.2			22.5			—			145.7
Cash and cash equivalents at end of period	$	0.4		$	71.8		$	21.5		$	—		$	93.7

SunCoke Energy, Inc.

Condensed Consolidating Statement of Cash Flows

Nine Months Ended September 30, 2018

(Dollars in millions)

	Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Combining and Consolidating Adjustments			Total
Cash Flows from Operating Activities:
Net income	$	24.4		$	45.9		$	26.5		$	(55.3	)	$	41.5
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization expense	—			5.9			94.4			—			100.3
Deferred income tax benefit	(0.3		)	(3.1		)	(0.6		)	—			(4.0		)
Payments in excess of expense for postretirement plan benefits	—			(0.7		)	(1.1		)	—			(1.8		)
Share-based compensation expense	2.2			—			—			—			2.2
Equity in loss of subsidiaries	(31.0		)	(24.3		)	—			55.3			—
Loss on extinguishment of debt	0.3			—			—			—			0.3
Loss from equity method investment	—			—			5.4			—			5.4
Changes in working capital pertaining to operating activities:
Receivables	—			4.3			(11.3		)	—			(7.0		)
Inventories	—			(0.1		)	(6.9		)	—			(7.0		)
Accounts payable	(0.3		)	1.3			29.6			—			30.6
Accrued liabilities	0.1			(7.6		)	0.2			—			(7.3		)
Deferred revenue	—			—			0.9			—			0.9
Interest payable	(1.0		)	—			12.3			—			11.3
Income taxes	1.0			7.9			(6.8		)	—			2.1
Other	0.5			1.6			1.0			—			3.1
Net cash (used in) provided by operating activities	(4.1		)	31.1			143.6			—			170.6
Cash Flows from Investing Activities:
Capital expenditures	—			(1.7		)	(69.0		)	—			(70.7		)
Sale of equity method investment	—			—			4.0			—			4.0
Other investing activities	—			—			0.3			—			0.3
Net cash used in investing activities	—			(1.7		)	(64.7		)	—			(66.4		)
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt	45.0			—			—			—			45.0
Repayment of long-term debt	(45.4		)	—			—			—			(45.4		)
Debt issuance cost	(0.5		)	—			—			—			(0.5		)
Proceeds from revolving facility	—			—			127.2			—			127.2
Repayments of revolving facility	—			—			(152.2		)	—			(152.2		)
Repayment of financing obligation	—			—			(1.9		)	—			(1.9		)
Acquisition of additional interest in the Partnership	—			(4.2		)	—			—			(4.2		)
Cash distributions to noncontrolling interests	—			—			(24.8		)	—			(24.8		)
Other financing activities	0.8			—			—			—			0.8
Net increase (decrease) in advances from affiliates	4.2			1.5			(5.7		)	—			—
Net cash provided by (used in) financing activities	4.1			(2.7		)	(57.4		)	—			(56.0		)
Net increase in cash and cash equivalents	—			26.7			21.5			—			48.2
Cash and cash equivalents at beginning of period	—			103.6			16.6			—			120.2
Cash and cash equivalents at end of period	$	—		$	130.3		$	38.1		$	—		$	168.4