Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Business Segment Information and Segment Assets

The following table includes Adjusted EBITDA reportable segments, as defined below, which is a measure of segment profit or loss reported to the chief operating decision maker for purposes of allocating resources to the segments and assessing their performance:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Dollars in millions)
Sales and other operating revenue:
Domestic Coke	$	459.9	$	495.7	$	1,361.0	$	1,460.4
Brazil Coke	8.8		9.1		26.2		25.8
Logistics	21.4		15.6		62.2		56.4
Logistics intersegment sales	6.0		5.6		17.8		16.9
Elimination of intersegment sales	(6.0)		(5.6)		(17.8)		(16.9)
Total sales and other operating revenues	$	490.1	$	520.4	$	1,449.4	$	1,542.6
Adjusted EBITDA reportable segments:
Domestic Coke	$	58.1	$	64.0	$	177.4	$	192.6
Brazil Coke	2.5		2.2		7.4		6.9
Logistics	13.7		8.4		38.9		33.6
Total Adjusted EBITDA reportable segments	$	74.3	$	74.6	$	223.7	$	233.1
Depreciation and amortization expense:
Domestic Coke	$	24.6	$	32.1	$	79.9	$	97.1
Brazil Coke	0.1		0.1		0.2		0.2
Logistics	3.3		3.2		9.6		9.7
Total reportable segments	$	28.0	$	35.4	$	89.7	$	107.0
Corporate and Other	0.1		0.1		0.4		0.2
Total depreciation and amortization expense	$	28.1	$	35.5	$	90.1	$	107.2
Capital expenditures:
Domestic Coke	$	12.3	$	32.6	$	43.3	$	80.8
Brazil Coke	0.1		—		0.1		0.2
Logistics	2.6		1.4		4.2		3.3
Total reportable segments	$	15.0	$	34.0	$	47.6	$	84.3
Corporate and Other	0.1		0.1		0.5		0.2
Total capital expenditures	$	15.1	$	34.1	$	48.1	$	84.5

The following table sets forth the Company's segment assets:

	September 30, 2024		December 31, 2023
	(Dollars in millions)
Segment assets:
Domestic Coke	$	1,366.1	$	1,405.5
Brazil Coke	9.6		11.9
Logistics	156.8		158.4
Total reportable segments	$	1,532.5	$	1,575.8
Corporate and Other	116.7		83.2
Total assets, excluding tax assets	$	1,649.2	$	1,659.0
Tax assets	5.6		1.4
Total assets	$	1,654.8	$	1,660.4

Schedule of Reconciliation of Adjusted EBITDA to Net Income

Below is a reconciliation of Adjusted EBITDA reportable segments to net income, which is its most directly comparable financial measure calculated and presented in accordance with GAAP:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Dollars in millions)
Net income	$	33.3	$	8.5	$	77.7	$	48.2
Add:
Depreciation and amortization expense	28.1		35.5		90.1		107.2
Interest expense, net	5.7		6.6		17.8		21.0
Income tax expense	8.2		14.6		20.9		29.7
Transaction costs(1)	—		0.2		0.2		0.4
Corporate and Other	(1.0)		9.2		17.0		26.6
Adjusted EBITDA reportable segments	$	74.3	$	74.6	$	223.7	$	233.1

(1)Costs incurred as part of the granulated pig iron project with U.S. Steel.