XML 70 R58.htm IDEA: XBRL DOCUMENT v2.4.0.6
Supplemental Guarantor Information (Details 2) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Dec. 31, 2011
Dec. 31, 2010
Condensed Statements of Operations [Abstract]            
Net sales $ 1,463.5 $ 1,585.8 $ 4,510.6 $ 4,958.8    
Cost of products sold (exclusive of items shown below) 1,385.0 1,482.6 4,186.4 4,585.2    
Selling and administrative expenses (exclusive of items shown below) 51.9 54.6 158.5 161.6    
Depreciation 48.2 46.1 144.9 139.3    
Pension and OPEB expense (income) (9.6) (8.9) (28.0) (26.7)    
Total operating costs 1,475.5 1,574.4 4,461.8 4,859.4    
Operating profit (loss) (12.0) 11.4 48.8 99.4    
Interest expense 22.4 13.5 60.4 33.7    
Other income (expense) 5.7 (4.7) 1.9 (1.3)    
Income (loss) before income taxes (28.7) (6.8) (9.7) 64.4    
Income tax provision (benefit) 23.8 (0.7) 767.3 29.6    
Equity in net income (loss) of subsidiaries 0 0 0 0    
Net income (loss) (52.5) (6.1) (777.0) 34.8    
Less: Net income (loss) attributable to noncontrolling interests 8.4 (2.6) 19.9 (3.5)    
Net income (loss) attributable to AK Steel Holding Corporation (60.9) (3.5) (796.9) 38.3    
Comprehensive income (loss) (60.7) (21.0) (801.9) (13.3)    
Current assets:            
Cash and cash equivalents 47.1 58.7 47.1 58.7    
Accounts receivable, net 565.6   565.6   564.2  
Inventory, net 727.8   727.8   418.7  
Deferred tax assets, current 32.7   32.7   216.5  
Other current assets 33.7   33.7   33.0  
Total current assets 1,406.9   1,406.9   1,274.4  
Property, plant and equipment 5,984.5   5,984.5   5,967.2  
Accumulated depreciation (3,942.5)   (3,942.5)   (3,797.0)  
Property, plant and equipment, net 2,042.0   2,042.0   2,170.2  
Other non-current assets:            
Investment in AFSG Holdings, Inc. 55.6   55.6   55.6  
Investment in Magnetation LLC 129.6   129.6   101.2  
Investment in affiliates 0   0   0  
Inter-company accounts 0   0   0  
Goodwill 37.1   37.1   37.1  
Deferred tax assets, non-current 146.6   146.6   716.5  
Other non-current assets 102.9   102.9   94.9  
TOTAL ASSETS 3,920.7   3,920.7   4,449.9  
Current liabilities:            
Short-term borrowings under credit facility 42.0   42.0   250.0  
Accounts payable 603.2   603.2   583.6  
Accrued liabilities 185.6   185.6   172.8  
Current portion of long-term debt 0.7   0.7   0.7  
Current portion of pension and other postretirement benefit obligations 125.4   125.4   130.0  
Total current liabilities 956.9   956.9   1,137.1  
Non-current liabilities:            
Long-term debt, including $400.0 of credit facility borrowings at September 30, 2012 1,349.5   1,349.5   650.0  
Pension and other postretirement benefit obligations 1,503.4   1,503.4   1,744.8  
Other non-current liabilities 524.8   524.8   540.8  
Total non-current liabilities 3,377.7   3,377.7   2,935.6  
TOTAL LIABILITIES 4,334.6   4,334.6   4,072.7  
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) (434.5)   (434.5)   388.5  
Noncontrolling interests 20.6   20.6   (11.3)  
TOTAL EQUITY (DEFICIT) (413.9) 619.4 (413.9) 619.4 377.2 641.1
TOTAL LIABILITIES AND EQUITY (DEFICIT) 3,920.7   3,920.7   4,449.9  
Condensed Statements of Cash Flows [Abstract]            
Net cash flows from operating activities     (387.9) (355.4)    
Cash flows from investing activities:            
Capital investments     (49.3) (251.2)    
Investments in acquired businesses     (38.1) 0    
Other investing items, net     4.6 0.7    
Net cash flows from investing activities     (82.8) (250.5)    
Cash flows from financing activities:            
Net borrowings under credit facility     192.0 295.0    
Proceeds from issuance of long-term debt     373.3 0    
Redemption of long-term debt     (73.9) (0.5)    
Debt issuance costs     (8.6) (9.2)    
Proceeds from exercise of stock options     0 0.2    
Purchase of treasury stock     (1.7) (1.4)    
Common stock dividends paid     (11.0) (16.5)    
Inter-company activity     0 0    
SunCoke Middletown advances from noncontrolling interest owner     5.5 180.3    
Other financing items, net     0.2 (0.1)    
Net cash flows from financing activities     475.8 447.8    
Net increase (decrease) in cash and cash equivalents     5.1 (158.1)    
Cash and cash equivalents, beginning of period     42.0 216.8    
Cash and cash equivalents, end of period 47.1 58.7 47.1 58.7    
AK Holding [Member]
           
Condensed Statements of Operations [Abstract]            
Net sales 0 0 0 0    
Cost of products sold (exclusive of items shown below) 0 0 0 0    
Selling and administrative expenses (exclusive of items shown below) 0.9 1.0 3.6 3.6    
Depreciation 0 0 0 0    
Pension and OPEB expense (income) 0 0 0 0    
Total operating costs 0.9 1.0 3.6 3.6    
Operating profit (loss) (0.9) (1.0) (3.6) (3.6)    
Interest expense 0 0 0 0    
Other income (expense) 0 0 0 0    
Income (loss) before income taxes (0.9) (1.0) (3.6) (3.6)    
Income tax provision (benefit) 0 (0.5) 0 (1.4)    
Equity in net income (loss) of subsidiaries (60.0) (3.0) (793.3) 40.5    
Net income (loss) (60.9) (3.5) (796.9) 38.3    
Less: Net income (loss) attributable to noncontrolling interests 0 0 0 0    
Net income (loss) attributable to AK Steel Holding Corporation (60.9) (3.5) (796.9) 38.3    
Comprehensive income (loss) (69.1) (18.4) (821.8) (9.8)    
Current assets:            
Cash and cash equivalents 0 0 0 0    
Accounts receivable, net 0   0   0  
Inventory, net 0   0   0  
Deferred tax assets, current 0   0   0  
Other current assets 0.2   0.2   0.2  
Total current assets 0.2   0.2   0.2  
Property, plant and equipment 0   0   0  
Accumulated depreciation 0   0   0  
Property, plant and equipment, net 0   0   0  
Other non-current assets:            
Investment in AFSG Holdings, Inc. 0   0   0  
Investment in Magnetation LLC 0   0   0  
Investment in affiliates (2,454.5)   (2,454.5)   (1,589.1)  
Inter-company accounts 2,019.8   2,019.8   1,977.4  
Goodwill 0   0   0  
Deferred tax assets, non-current 0   0   0  
Other non-current assets 0   0   0  
TOTAL ASSETS (434.5)   (434.5)   388.5  
Current liabilities:            
Short-term borrowings under credit facility 0   0   0  
Accounts payable 0   0   0  
Accrued liabilities 0   0   0  
Current portion of long-term debt 0   0   0  
Current portion of pension and other postretirement benefit obligations 0   0   0  
Total current liabilities 0   0   0  
Non-current liabilities:            
Long-term debt, including $400.0 of credit facility borrowings at September 30, 2012 0   0   0  
Pension and other postretirement benefit obligations 0   0   0  
Other non-current liabilities 0   0   0  
Total non-current liabilities 0   0   0  
TOTAL LIABILITIES 0   0   0  
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) (434.5)   (434.5)   388.5  
Noncontrolling interests 0   0   0  
TOTAL EQUITY (DEFICIT) (434.5)   (434.5)   388.5  
TOTAL LIABILITIES AND EQUITY (DEFICIT) (434.5)   (434.5)   388.5  
Condensed Statements of Cash Flows [Abstract]            
Net cash flows from operating activities     (2.9) (1.5)    
Cash flows from investing activities:            
Capital investments     0 0    
Investments in acquired businesses     0      
Other investing items, net     0 0    
Net cash flows from investing activities     0 0    
Cash flows from financing activities:            
Net borrowings under credit facility     0 0    
Proceeds from issuance of long-term debt     0      
Redemption of long-term debt     0 0    
Debt issuance costs     0 0    
Proceeds from exercise of stock options       0.2    
Purchase of treasury stock     (1.7) (1.4)    
Common stock dividends paid     (11.0) (16.5)    
Inter-company activity     15.6 19.2    
SunCoke Middletown advances from noncontrolling interest owner     0 0    
Other financing items, net     0 0    
Net cash flows from financing activities     2.9 1.5    
Net increase (decrease) in cash and cash equivalents     0 0    
Cash and cash equivalents, beginning of period     0 0    
Cash and cash equivalents, end of period 0 0 0 0    
AK Steel [Member]
           
Condensed Statements of Operations [Abstract]            
Net sales 1,409.2 1,529.1 4,319.0 4,756.0    
Cost of products sold (exclusive of items shown below) 1,365.9 1,443.6 4,095.7 4,441.5    
Selling and administrative expenses (exclusive of items shown below) 52.5 54.1 161.7 168.3    
Depreciation 43.3 44.5 130.6 134.6    
Pension and OPEB expense (income) (9.6) (8.9) (28.0) (26.7)    
Total operating costs 1,452.1 1,533.3 4,360.0 4,717.7    
Operating profit (loss) (42.9) (4.2) (41.0) 38.3    
Interest expense 22.2 13.5 59.8 33.7    
Other income (expense) (2.1) (2.3) (7.4) (5.7)    
Income (loss) before income taxes (67.2) (20.0) (108.2) (1.1)    
Income tax provision (benefit) 8.5 (6.9) 727.6 3.5    
Equity in net income (loss) of subsidiaries 15.7 10.1 42.5 45.1    
Net income (loss) (60.0) (3.0) (793.3) 40.5    
Less: Net income (loss) attributable to noncontrolling interests 0 0 0 0    
Net income (loss) attributable to AK Steel Holding Corporation (60.0) (3.0) (793.3) 40.5    
Comprehensive income (loss) (68.2) (17.9) (818.2) (7.6)    
Current assets:            
Cash and cash equivalents 27.3 35.3 27.3 35.3    
Accounts receivable, net 579.8   579.8   587.5  
Inventory, net 611.5   611.5   304.6  
Deferred tax assets, current 32.4   32.4   216.3  
Other current assets 30.2   30.2   31.9  
Total current assets 1,281.2   1,281.2   1,160.2  
Property, plant and equipment 5,402.2   5,402.2   5,377.2  
Accumulated depreciation (3,857.5)   (3,857.5)   (3,726.9)  
Property, plant and equipment, net 1,544.7   1,544.7   1,650.3  
Other non-current assets:            
Investment in AFSG Holdings, Inc. 0   0   0  
Investment in Magnetation LLC 0   0   0  
Investment in affiliates 2,454.5   2,454.5   1,589.1  
Inter-company accounts (4,069.0)   (4,069.0)   (3,207.3)  
Goodwill 0   0   0  
Deferred tax assets, non-current 146.4   146.4   716.3  
Other non-current assets 65.7   65.7   64.4  
TOTAL ASSETS 1,423.5   1,423.5   1,973.0  
Current liabilities:            
Short-term borrowings under credit facility 42.0   42.0   250.0  
Accounts payable 583.7   583.7   525.4  
Accrued liabilities 175.0   175.0   162.3  
Current portion of long-term debt 0.7   0.7   0.7  
Current portion of pension and other postretirement benefit obligations 125.0   125.0   129.6  
Total current liabilities 926.4   926.4   1,068.0  
Non-current liabilities:            
Long-term debt, including $400.0 of credit facility borrowings at September 30, 2012 1,349.5   1,349.5   650.0  
Pension and other postretirement benefit obligations 1,499.5   1,499.5   1,740.7  
Other non-current liabilities 102.6   102.6   103.4  
Total non-current liabilities 2,951.6   2,951.6   2,494.1  
TOTAL LIABILITIES 3,878.0   3,878.0   3,562.1  
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) (2,454.5)   (2,454.5)   (1,589.1)  
Noncontrolling interests 0   0   0  
TOTAL EQUITY (DEFICIT) (2,454.5)   (2,454.5)   (1,589.1)  
TOTAL LIABILITIES AND EQUITY (DEFICIT) 1,423.5   1,423.5   1,973.0  
Condensed Statements of Cash Flows [Abstract]            
Net cash flows from operating activities     (431.6) (366.7)    
Cash flows from investing activities:            
Capital investments     (29.7) (87.8)    
Investments in acquired businesses     0      
Other investing items, net     5.3 1.5    
Net cash flows from investing activities     (24.4) (86.3)    
Cash flows from financing activities:            
Net borrowings under credit facility     192.0 295.0    
Proceeds from issuance of long-term debt     373.3      
Redemption of long-term debt     (73.9) (0.5)    
Debt issuance costs     (8.6) (9.2)    
Proceeds from exercise of stock options       0    
Purchase of treasury stock     0 0    
Common stock dividends paid     0 0    
Inter-company activity     (19.2) 1.7    
SunCoke Middletown advances from noncontrolling interest owner     0 0    
Other financing items, net     (0.2) (0.1)    
Net cash flows from financing activities     463.4 286.9    
Net increase (decrease) in cash and cash equivalents     7.4 (166.1)    
Cash and cash equivalents, beginning of period     19.9 201.4    
Cash and cash equivalents, end of period 27.3 35.3 27.3 35.3    
Other [Member]
           
Condensed Statements of Operations [Abstract]            
Net sales 224.8 193.0 705.4 569.0    
Cost of products sold (exclusive of items shown below) 182.8 161.3 578.5 475.9    
Selling and administrative expenses (exclusive of items shown below) 9.4 11.2 26.8 26.6    
Depreciation 4.9 1.6 14.3 4.7    
Pension and OPEB expense (income) 0 0 0 0    
Total operating costs 197.1 174.1 619.6 507.2    
Operating profit (loss) 27.7 18.9 85.8 61.8    
Interest expense 0.2 0 0.6 0    
Other income (expense) 7.8 (1.4) 9.3 6.4    
Income (loss) before income taxes 35.3 17.5 94.5 68.2    
Income tax provision (benefit) 13.6 7.9 36.6 27.2    
Equity in net income (loss) of subsidiaries 0 0 0 0    
Net income (loss) 21.7 9.6 57.9 41.0    
Less: Net income (loss) attributable to noncontrolling interests 8.4 (2.6) 19.9 (3.5)    
Net income (loss) attributable to AK Steel Holding Corporation 13.3 12.2 38.0 44.5    
Comprehensive income (loss) 22.4 8.1 58.2 41.0    
Current assets:            
Cash and cash equivalents 19.8 23.4 19.8 23.4    
Accounts receivable, net 91.9   91.9   69.8  
Inventory, net 125.4   125.4   122.1  
Deferred tax assets, current 0.3   0.3   0.2  
Other current assets 3.3   3.3   0.9  
Total current assets 240.7   240.7   215.1  
Property, plant and equipment 582.3   582.3   590.0  
Accumulated depreciation (85.0)   (85.0)   (70.1)  
Property, plant and equipment, net 497.3   497.3   519.9  
Other non-current assets:            
Investment in AFSG Holdings, Inc. 55.6   55.6   55.6  
Investment in Magnetation LLC 129.6   129.6   101.2  
Investment in affiliates 1,243.2   1,243.2   1,204.3  
Inter-company accounts (416.5)   (416.5)   (401.7)  
Goodwill 37.1   37.1   37.1  
Deferred tax assets, non-current 0.2   0.2   0.2  
Other non-current assets 37.2   37.2   30.5  
TOTAL ASSETS 1,824.4   1,824.4   1,762.2  
Current liabilities:            
Short-term borrowings under credit facility 0   0   0  
Accounts payable 43.4   43.4   59.4  
Accrued liabilities 10.6   10.6   10.5  
Current portion of long-term debt 0   0   0  
Current portion of pension and other postretirement benefit obligations 0.4   0.4   0.4  
Total current liabilities 54.4   54.4   70.3  
Non-current liabilities:            
Long-term debt, including $400.0 of credit facility borrowings at September 30, 2012 0   0   0  
Pension and other postretirement benefit obligations 3.9   3.9   4.1  
Other non-current liabilities 422.2   422.2   437.4  
Total non-current liabilities 426.1   426.1   441.5  
TOTAL LIABILITIES 480.5   480.5   511.8  
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 1,323.3   1,323.3   1,261.7  
Noncontrolling interests 20.6   20.6   (11.3)  
TOTAL EQUITY (DEFICIT) 1,343.9   1,343.9   1,250.4  
TOTAL LIABILITIES AND EQUITY (DEFICIT) 1,824.4   1,824.4   1,762.2  
Condensed Statements of Cash Flows [Abstract]            
Net cash flows from operating activities     50.7 11.1    
Cash flows from investing activities:            
Capital investments     (19.6) (163.4)    
Investments in acquired businesses     (38.1)      
Other investing items, net     (0.7) (0.8)    
Net cash flows from investing activities     (58.4) (164.2)    
Cash flows from financing activities:            
Net borrowings under credit facility     0 0    
Proceeds from issuance of long-term debt     0      
Redemption of long-term debt     0 0    
Debt issuance costs     0 0    
Proceeds from exercise of stock options       0    
Purchase of treasury stock     0 0    
Common stock dividends paid     0 0    
Inter-company activity     (0.5) (19.2)    
SunCoke Middletown advances from noncontrolling interest owner     5.5 180.3    
Other financing items, net     0.4 0    
Net cash flows from financing activities     5.4 161.1    
Net increase (decrease) in cash and cash equivalents     (2.3) 8.0    
Cash and cash equivalents, beginning of period     22.1 15.4    
Cash and cash equivalents, end of period 19.8 23.4 19.8 23.4    
Eliminations [Member]
           
Condensed Statements of Operations [Abstract]            
Net sales (170.5) (136.3) (513.8) (366.2)    
Cost of products sold (exclusive of items shown below) (163.7) (122.3) (487.8) (332.2)    
Selling and administrative expenses (exclusive of items shown below) (10.9) (11.7) (33.6) (36.9)    
Depreciation 0 0 0 0    
Pension and OPEB expense (income) 0 0 0 0    
Total operating costs (174.6) (134.0) (521.4) (369.1)    
Operating profit (loss) 4.1 (2.3) 7.6 2.9    
Interest expense 0 0 0 0    
Other income (expense) 0 (1.0) 0 (2.0)    
Income (loss) before income taxes 4.1 (3.3) 7.6 0.9    
Income tax provision (benefit) 1.7 (1.2) 3.1 0.3    
Equity in net income (loss) of subsidiaries 44.3 (7.1) 750.8 (85.6)    
Net income (loss) 46.7 (9.2) 755.3 (85.0)    
Less: Net income (loss) attributable to noncontrolling interests 0 0 0 0    
Net income (loss) attributable to AK Steel Holding Corporation 46.7 (9.2) 755.3 (85.0)    
Comprehensive income (loss) 54.2 7.2 779.9 (36.9)    
Current assets:            
Cash and cash equivalents 0 0 0 0    
Accounts receivable, net (106.1)   (106.1)   (93.1)  
Inventory, net (9.1)   (9.1)   (8.0)  
Deferred tax assets, current 0   0   0  
Other current assets 0   0   0  
Total current assets (115.2)   (115.2)   (101.1)  
Property, plant and equipment 0   0   0  
Accumulated depreciation 0   0   0  
Property, plant and equipment, net 0   0   0  
Other non-current assets:            
Investment in AFSG Holdings, Inc. 0   0   0  
Investment in Magnetation LLC 0   0   0  
Investment in affiliates (1,243.2)   (1,243.2)   (1,204.3)  
Inter-company accounts 2,465.7   2,465.7   1,631.6  
Goodwill 0   0   0  
Deferred tax assets, non-current 0   0   0  
Other non-current assets 0   0   0  
TOTAL ASSETS 1,107.3   1,107.3   326.2  
Current liabilities:            
Short-term borrowings under credit facility 0   0   0  
Accounts payable (23.9)   (23.9)   (1.2)  
Accrued liabilities 0   0   0  
Current portion of long-term debt 0   0   0  
Current portion of pension and other postretirement benefit obligations 0   0   0  
Total current liabilities (23.9)   (23.9)   (1.2)  
Non-current liabilities:            
Long-term debt, including $400.0 of credit facility borrowings at September 30, 2012 0   0   0  
Pension and other postretirement benefit obligations 0   0   0  
Other non-current liabilities 0   0   0  
Total non-current liabilities 0   0   0  
TOTAL LIABILITIES (23.9)   (23.9)   (1.2)  
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 1,131.2   1,131.2   327.4  
Noncontrolling interests 0   0   0  
TOTAL EQUITY (DEFICIT) 1,131.2   1,131.2   327.4  
TOTAL LIABILITIES AND EQUITY (DEFICIT) 1,107.3   1,107.3   326.2  
Condensed Statements of Cash Flows [Abstract]            
Net cash flows from operating activities     (4.1) 1.7    
Cash flows from investing activities:            
Capital investments     0 0    
Investments in acquired businesses     0      
Other investing items, net     0 0    
Net cash flows from investing activities     0 0    
Cash flows from financing activities:            
Net borrowings under credit facility     0 0    
Proceeds from issuance of long-term debt     0      
Redemption of long-term debt     0 0    
Debt issuance costs     0 0    
Proceeds from exercise of stock options       0    
Purchase of treasury stock     0 0    
Common stock dividends paid     0 0    
Inter-company activity     4.1 (1.7)    
SunCoke Middletown advances from noncontrolling interest owner     0 0    
Other financing items, net     0 0    
Net cash flows from financing activities     4.1 (1.7)    
Net increase (decrease) in cash and cash equivalents     0 0    
Cash and cash equivalents, beginning of period     0 0    
Cash and cash equivalents, end of period $ 0 $ 0 $ 0 $ 0