Supplementary Guarantor Information (Tables)

12 Months Ended

Dec. 31, 2019

Supplemental Guarantor Information [Abstract]

Condensed Statements of Comprehensive Income (Loss)

Condensed Statements of Comprehensive Income (Loss)
Year Ended December 31, 2019
	AK Holding			AK Steel			Guarantor Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net sales	$	—		$	5,784.3		$	304.1		$	751.5		$	(480.5	)	$	6,359.4
Cost of products sold (exclusive of items shown separately below)	—			5,228.5			212.9			598.5			(433.6		)	5,606.3
Selling and administrative expenses	4.3			283.0			13.8			40.0			(45.9		)	295.2
Depreciation	—			142.1			8.5			42.0			—			192.6
Ashland Works closure	—			56.0			—			—			—			56.0
Total operating costs	4.3			5,709.6			235.2			680.5			(479.5		)	6,150.1
Operating profit (loss)	(4.3		)	74.7			68.9			71.0			(1.0		)	209.3
Interest expense	—			139.3			—			7.3			—			146.6
Pension and OPEB (income) expense	—			12.0			—			—			—			12.0
Other (income) expense	—			2.6			(23.2		)	(4.1		)	6.2			(18.5		)
Income (loss) before income taxes	(4.3		)	(79.2		)	92.1			67.8			(7.2		)	69.2
Income tax expense (benefit)	—			(25.4		)	23.0			10.5			(1.9		)	6.2
Equity in net income (loss) of subsidiaries	15.5			69.3			—			1.9			(86.7		)	—
Net income (loss)	11.2			15.5			69.1			59.2			(92.0		)	63.0
Less: Net income attributable to noncontrolling interests	—			—			—			51.8			—			51.8
Net income (loss) attributable to AK Steel Holding Corporation	11.2			15.5			69.1			7.4			(92.0		)	11.2
Other comprehensive income (loss)	32.0			32.0			—			(0.6		)	(31.4		)	32.0
Comprehensive income (loss) attributable to AK Steel Holding Corporation	$	43.2		$	47.5		$	69.1		$	6.8		$	(123.4	)	$	43.2

Condensed Statements of Comprehensive Income (Loss)
Year Ended December 31, 2018
	AK Holding			AK Steel			Guarantor Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net sales	$	—		$	6,244.7		$	320.8		$	752.8		$	(500.1	)	$	6,818.2
Cost of products sold (exclusive of items shown separately below)	—			5,519.8			221.4			620.9			(451.1		)	5,911.0
Selling and administrative expenses	3.5			320.0			14.5			34.2			(49.6		)	322.6
Depreciation	—			171.5			8.0			40.7			—			220.2
Total operating costs	3.5			6,011.3			243.9			695.8			(500.7		)	6,453.8
Operating profit (loss)	(3.5		)	233.4			76.9			57.0			0.6			364.4
Interest expense	—			145.9			—			5.7			—			151.6
Pension and OPEB (income) expense	—			(19.2		)	—			—			—			(19.2		)
Other (income) expense	—			8.7			(16.4		)	(2.9		)	4.7			(5.9		)
Income (loss) before income taxes	(3.5		)	98.0			93.3			54.2			(4.1		)	237.9
Income tax expense (benefit)	—			(26.5		)	23.3			(2.0		)	(1.0		)	(6.2		)
Equity in net income (loss) of subsidiaries	189.5			65.0			—			0.7			(255.2		)	—
Net income (loss)	186.0			189.5			70.0			56.9			(258.3		)	244.1
Less: Net income attributable to noncontrolling interests	—			—			—			58.1			—			58.1
Net income (loss) attributable to AK Steel Holding Corporation	186.0			189.5			70.0			(1.2		)	(258.3		)	186.0
Other comprehensive income (loss)	(50.6		)	(50.6		)	—			(1.7		)	52.3			(50.6		)
Comprehensive income (loss) attributable to AK Steel Holding Corporation	$	135.4		$	138.9		$	70.0		$	(2.9	)	$	(206.0	)	$	135.4

Condensed Statements of Comprehensive Income (Loss)
Year Ended December 31, 2017
	AK Holding			AK Steel			Guarantor Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net sales	$	—		$	5,755.1		$	285.9		$	496.3		$	(456.8	)	$	6,080.5
Cost of products sold (exclusive of items shown separately below)	—			5,082.0			197.7			387.2			(413.8		)	5,253.1
Selling and administrative expenses	3.7			285.5			13.5			26.9			(44.7		)	284.9
Depreciation	—			189.3			7.5			29.2			—			226.0
Asset impairment charge	—			75.6			—			—			—			75.6
Credit for adjustment of liability for transportation costs	—			(19.3		)	—			—			—			(19.3		)
Total operating costs	3.7			5,613.1			218.7			443.3			(458.5		)	5,820.3
Operating profit (loss)	(3.7		)	142.0			67.2			53.0			1.7			260.2
Interest expense	—			150.3			—			2.0			—			152.3
Pension and OPEB (income) expense	—			(71.9		)	—			—			—			(71.9		)
Other (income) expense	—			30.1			(11.4		)	(5.4		)	3.8			17.1
Income (loss) before income taxes	(3.7		)	33.5			78.6			56.4			(2.1		)	162.7
Income tax expense (benefit)	—			(29.4		)	29.9			(1.8		)	(0.9		)	(2.2		)
Equity in net income (loss) of subsidiaries	107.2			44.3			—			—			(151.5		)	—
Net income (loss)	103.5			107.2			48.7			58.2			(152.7		)	164.9
Less: Net income attributable to noncontrolling interests	—			—			—			61.4			—			61.4
Net income (loss) attributable to AK Steel Holding Corporation	103.5			107.2			48.7			(3.2		)	(152.7		)	103.5
Other comprehensive income (loss)	38.5			38.5			—			4.7			(43.2		)	38.5
Comprehensive income (loss) attributable to AK Steel Holding Corporation	$	142.0		$	145.7		$	48.7		$	1.5		$	(195.9	)	$	142.0

Condensed Balance Sheets

Condensed Balance Sheets
December 31, 2019
	AK Holding			AK Steel			Guarantor Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	11.8		$	0.1		$	19.1		$	—		$	31.0
Accounts receivable, net	—			437.4			25.7			124.1			(9.3		)	577.9
Inventory	—			1,214.9			56.0			85.5			(10.2		)	1,346.2
Other current assets	—			59.1			0.2			5.9			—			65.2
Total current assets	—			1,723.2			82.0			234.6			(19.5		)	2,020.3
Property, plant and equipment	—			6,234.4			199.5			735.0			—			7,168.9
Accumulated depreciation	—			(4,917.2		)	(111.3		)	(208.5		)	—			(5,237.0		)
Property, plant and equipment, net	—			1,317.2			88.2			526.5			—			1,931.9
Other non-current assets:
Investment in subsidiaries	(3,108.8		)	2,023.7			—			72.0			1,013.1			—
Inter-company accounts	3,260.3			—			1,734.6			—			(4,994.9		)	—
Goodwill and intangible assets	—			—			32.8			260.6			—			293.4
Other non-current assets	—			248.6			2.8			93.6			—			345.0
TOTAL ASSETS	$	151.5		$	5,312.7		$	1,940.4		$	1,187.3		$	(4,001.3	)	$	4,590.6
LIABILITIES AND EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	—		$	614.2		$	25.4		$	70.1		$	(4.6	)	$	705.1
Accrued liabilities	—			276.0			8.8			29.6			—			314.4
Current portion of pension and other postretirement benefit obligations	—			40.7			—			0.3			—			41.0
Total current liabilities	—			930.9			34.2			100.0			(4.6		)	1,060.5
Non-current liabilities:
Long-term debt	—			1,968.8			—			—			—			1,968.8
Pension and other postretirement benefit obligations	—			714.8			—			3.0			—			717.8
Inter-company accounts	—			4,513.6			—			558.6			(5,072.2		)	—
Other non-current liabilities	—			293.4			2.1			70.7			—			366.2
TOTAL LIABILITIES	—			8,421.5			36.3			732.3			(5,076.8		)	4,113.3
Equity (deficit):
Total stockholders’ equity (deficit)	151.5			(3,108.8		)	1,904.1			129.2			1,075.5			151.5
Noncontrolling interests	—			—			—			325.8			—			325.8
TOTAL EQUITY (DEFICIT)	151.5			(3,108.8		)	1,904.1			455.0			1,075.5			477.3
TOTAL LIABILITIES AND EQUITY (DEFICIT)	$	151.5		$	5,312.7		$	1,940.4		$	1,187.3		$	(4,001.3	)	$	4,590.6

Condensed Balance Sheets
December 31, 2018
	AK Holding			AK Steel			Guarantor Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	22.1		$	8.2		$	18.3		$	—		$	48.6
Accounts receivable, net	—			515.4			34.0			95.3			(8.9		)	635.8
Inventory	—			1,299.6			53.9			75.6			(9.2		)	1,419.9
Other current assets	—			85.5			0.1			11.4			—			97.0
Total current assets	—			1,922.6			96.2			200.6			(18.1		)	2,201.3
Property, plant and equipment	—			6,111.1			189.7			668.4			—			6,969.2
Accumulated depreciation	—			(4,785.5		)	(102.8		)	(169.3		)	—			(5,057.6		)
Property, plant and equipment, net	—			1,325.6			86.9			499.1			—			1,911.6
Other non-current assets:
Investment in subsidiaries	(3,017.4		)	1,931.1			—			68.2			1,018.1			—
Inter-company accounts	3,117.3			—			1,630.7			—			(4,748.0		)	—
Goodwill and intangible assets	—			—			32.9			266.0			—			298.9
Other non-current assets	—			54.3			—			49.6			—			103.9
TOTAL ASSETS	$	99.9		$	5,233.6		$	1,846.7		$	1,083.5		$	(3,748.0	)	$	4,515.7
LIABILITIES AND EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	—		$	722.5		$	26.2		$	55.5		$	(3.2	)	$	801.0
Accrued liabilities	—			251.5			8.7			28.7			—			288.9
Current portion of pension and other postretirement benefit obligations	—			38.4			—			0.3			—			38.7
Total current liabilities	—			1,012.4			34.9			84.5			(3.2		)	1,128.6
Non-current liabilities:
Long-term debt	—			1,993.7			—			—			—			1,993.7
Pension and other postretirement benefit obligations	—			827.0			—			2.9			—			829.9
Inter-company accounts	—			4,312.3			—			511.2			(4,823.5		)	—
Other non-current liabilities	—			105.6			0.2			28.2			—			134.0
TOTAL LIABILITIES	—			8,251.0			35.1			626.8			(4,826.7		)	4,086.2
Equity (deficit):
Total stockholders’ equity (deficit)	99.9			(3,017.4		)	1,811.6			127.1			1,078.7			99.9
Noncontrolling interests	—			—			—			329.6			—			329.6
TOTAL EQUITY (DEFICIT)	99.9			(3,017.4		)	1,811.6			456.7			1,078.7			429.5
TOTAL LIABILITIES AND EQUITY (DEFICIT)	$	99.9		$	5,233.6		$	1,846.7		$	1,083.5		$	(3,748.0	)	$	4,515.7

Condensed Statements of Cash Flows

Condensed Statements of Cash Flows
Year Ended December 31, 2019
	AK Holding			AK Steel			Guarantor Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net cash flows from operating activities	$	(3.2	)	$	114.6		$	76.2		$	83.6		$	(5.3	)	$	265.9
Cash flows from investing activities:
Capital investments	—			(133.5		)	(3.8		)	(57.5		)	—			(194.8		)
Other investing items, net	—			6.6			—			—			—			6.6
Net cash flows from investing activities	—			(126.9		)	(3.8		)	(57.5		)	—			(188.2		)
Cash flows from financing activities:
Net borrowings (repayments) under credit facility	—			115.0			—			—			—			115.0
Redemption of long-term debt	—			(152.3		)	—			—			—			(152.3		)
Inter-company activity	3.9			41.0			(80.5		)	30.3			5.3			—
SunCoke Middletown distributions to noncontrolling interest owners	—			—			—			(55.6		)	—			(55.6		)
Other financing items, net	(0.7		)	(1.7		)	—			—			—			(2.4		)
Net cash flows from financing activities	3.2			2.0			(80.5		)	(25.3		)	5.3			(95.3		)
Net increase (decrease) in cash and cash equivalents	—			(10.3		)	(8.1		)	0.8			—			(17.6		)
Cash and equivalents, beginning of year	—			22.1			8.2			18.3			—			48.6
Cash and equivalents, end of year	$	—		$	11.8		$	0.1		$	19.1		$	—		$	31.0

Condensed Statements of Cash Flows
Year Ended December 31, 2018
	AK Holding			AK Steel			Guarantor Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net cash flows from operating activities	$	(2.3	)	$	209.7		$	83.1		$	83.8		$	(9.6	)	$	364.7
Cash flows from investing activities:
Capital investments	—			(122.9		)	(8.1		)	(21.0		)	—			(152.0		)
Other investing items, net	—			0.8			—			(0.7		)	—			0.1
Net cash flows from investing activities	—			(122.1		)	(8.1		)	(21.7		)	—			(151.9		)
Cash flows from financing activities:
Net borrowings (repayments) under credit facility	—			(115.0		)	—			—			—			(115.0		)
Redemption of long-term debt	—			(12.6		)	—			—			—			(12.6		)
Inter-company activity	2.5			48.3			(74.0		)	13.6			9.6			—
SunCoke Middletown distributions to noncontrolling interest owners	—			—			—			(73.7		)	—			(73.7		)
Other financing items, net	(0.2		)	(0.7		)	—			—			—			(0.9		)
Net cash flows from financing activities	2.3			(80.0		)	(74.0		)	(60.1		)	9.6			(202.2		)
Net increase (decrease) in cash and cash equivalents	—			7.6			1.0			2.0			—			10.6
Cash and equivalents, beginning of year	—			14.5			7.2			16.3			—			38.0
Cash and equivalents, end of year	$	—		$	22.1		$	8.2		$	18.3		$	—		$	48.6

Condensed Statements of Cash Flows
Year Ended December 31, 2017
	AK Holding			AK Steel			Guarantor Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net cash flows from operating activities	$	(2.5	)	$	67.3		$	73.3		$	61.7		$	(1.0	)	$	198.8
Cash flows from investing activities:
Capital investments	—			(131.8		)	(5.6		)	(15.1		)	—			(152.5		)
Investment in acquired business, net of cash acquired	—			(360.4		)	—			—			—			(360.4		)
Other investing items, net	—			4.0			—			0.2			—			4.2
Net cash flows from investing activities	—			(488.2		)	(5.6		)	(14.9		)	—			(508.7		)
Cash flows from financing activities:
Net borrowings (repayments) under credit facility	—			450.0			—			—			—			450.0
Proceeds from issuance of long-term debt	—			680.0			—			—			—			680.0
Redemption of long-term debt	—			(848.4		)	—			—			—			(848.4		)
Debt issuance costs	—			(25.3		)	—			—			—			(25.3		)
Inter-company activity	5.0			31.2			(64.9		)	27.7			1.0			—
SunCoke Middletown distributions to noncontrolling interest owners	—			—			—			(79.1		)	—			(79.1		)
Other financing items, net	(2.5		)	—			—			—			—			(2.5		)
Net cash flows from financing activities	2.5			287.5			(64.9		)	(51.4		)	1.0			174.7
Net increase (decrease) in cash and cash equivalents	—			(133.4		)	2.8			(4.6		)	—			(135.2		)
Cash and equivalents, beginning of year	—			147.9			4.4			20.9			—			173.2
Cash and equivalents, end of year	$	—		$	14.5		$	7.2		$	16.3		$	—		$	38.0