XML 62 R45.htm IDEA: XBRL DOCUMENT v3.3.1.900
Supplementary Guarantor Information (Tables)
 12 Months Ended
Dec. 31, 2015
Supplemental Guarantor Information [Abstract]  
Condensed Statements of Comprehensive Income (Loss)
Condensed Statements of Comprehensive Income (Loss)
Year Ended December 31, 2015
 
 
AK
Holding
 
AK
Steel
 
Guarantor Subsidiaries of the Senior Notes
 
Other Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated Company
Net sales
$
—

 
$
6,498.2

 
$
250.9

 
$
538.3

 
$
(594.5
)
 
$
6,692.9

Cost of products sold (exclusive of items shown separately below)
—

 
5,984.9

 
167.5

 
423.3

 
(543.7
)
 
6,032.0

Selling and administrative expenses (exclusive of items shown separately below)
4.9

 
270.4

 
10.7

 
25.0

 
(49.1
)
 
261.9

Depreciation
—

 
187.7

 
3.6

 
24.7

 
—

 
216.0

Pension and OPEB expense (income) (exclusive of corridor charges shown below)
—

 
(63.0
)
 
—

 
—

 
—

 
(63.0
)
Pension and OPEB net corridor charge
—

 
131.2

 
—

 
—

 
—

 
131.2

Charge for facility idling
—

 
28.1

 
—

 
—

 
—

 
28.1

Total operating costs
4.9

 
6,539.3

 
181.8

 
473.0

 
(592.8
)
 
6,606.2

Operating profit (loss)
(4.9
)
 
(41.1
)
 
69.1

 
65.3

 
(1.7
)
 
86.7

Interest expense
—

 
171.0

 
—

 
2.0

 
—

 
173.0

Impairment of Magnetation investment
—

 
—

 
—

 
(256.3
)
 
—

 
(256.3
)
Impairment of AFSG investment
—

 
—

 
—

 
(41.6
)
 
—

 
(41.6
)
Other income (expense)
—

 
6.4

 
6.6

 
(11.6
)
 
—

 
1.4

Income (loss) before income taxes
(4.9
)
 
(205.7
)
 
75.7

 
(246.2
)
 
(1.7
)
 
(382.8
)
Income tax expense (benefit)
—

 
39.6

 
28.7

 
(4.2
)
 
(0.7
)
 
63.4

Equity in net income (loss) of subsidiaries
(504.1
)
 
(258.8
)
 
—

 
—

 
762.9

 
—

Net income (loss)
(509.0
)
 
(504.1
)
 
47.0

 
(242.0
)
 
761.9

 
(446.2
)
Less: Net income attributable to noncontrolling interests
—

 
—

 
—

 
62.8

 
—

 
62.8

Net income (loss) attributable to AK Steel Holding Corporation
(509.0
)
 
(504.1
)
 
47.0

 
(304.8
)
 
761.9

 
(509.0
)
Other comprehensive income (loss)
17.2

 
17.2

 
—

 
(3.1
)
 
(14.1
)
 
17.2

Comprehensive income (loss) attributable to AK Steel Holding Corporation
$
(491.8
)
 
$
(486.9
)
 
$
47.0

 
$
(307.9
)
 
$
747.8

 
$
(491.8
)

Condensed Statements of Comprehensive Income (Loss)
Year Ended December 31, 2014
 
 
AK
Holding
 
AK
Steel
 
Guarantor Subsidiaries of the Senior Notes
 
Other Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated Company
Net sales
$
—

 
$
6,284.2

 
$
280.7

 
$
599.6

 
$
(658.8
)
 
$
6,505.7

Cost of products sold (exclusive of items shown separately below)
—

 
5,937.6

 
199.3

 
484.7

 
(613.9
)
 
6,007.7

Selling and administrative expenses (exclusive of items shown separately below)
4.6

 
251.0

 
11.3

 
28.3

 
(48.0
)
 
247.2

Depreciation
—

 
176.1

 
3.9

 
21.9

 
—

 
201.9

Pension and OPEB expense (income)
—

 
(92.5
)
 
—

 
—

 
—

 
(92.5
)
Pension corridor charge
—

 
2.0

 
—

 
—

 
—

 
2.0

Total operating costs
4.6

 
6,274.2

 
214.5

 
534.9

 
(661.9
)
 
6,366.3

Operating profit (loss)
(4.6
)
 
10.0

 
66.2

 
64.7

 
3.1

 
139.4

Interest expense
—

 
142.1

 
—

 
2.6

 
—

 
144.7

Other income (expense)
—

 
(17.7
)
 
6.5

 
(9.9
)
 
—

 
(21.1
)
Income (loss) before income taxes
(4.6
)
 
(149.8
)
 
72.7

 
52.2

 
3.1

 
(26.4
)
Income tax expense (benefit)
—

 
(19.2
)
 
29.1

 
(3.4
)
 
1.2

 
7.7

Equity in net income (loss) of subsidiaries
(92.3
)
 
38.3

 
—

 
—

 
54.0

 
—

Net income (loss)
(96.9
)
 
(92.3
)
 
43.6

 
55.6

 
55.9

 
(34.1
)
Less: Net income attributable to noncontrolling interests
—

 
—

 
—

 
62.8

 
—

 
62.8

Net income (loss) attributable to AK Steel Holding Corporation
(96.9
)
 
(92.3
)
 
43.6

 
(7.2
)
 
55.9

 
(96.9
)
Other comprehensive income (loss)
(527.8
)
 
(527.8
)
 
—

 
(3.7
)
 
531.5

 
(527.8
)
Comprehensive income (loss) attributable to AK Steel Holding Corporation
$
(624.7
)
 
$
(620.1
)
 
$
43.6

 
$
(10.9
)
 
$
587.4

 
$
(624.7
)

Condensed Statements of Comprehensive Income (Loss)
Year Ended December 31, 2013
 
 
AK
Holding
 
AK
Steel
 
Guarantor Subsidiaries of the Senior Notes
 
Other Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated Company
Net sales
$
—

 
$
5,339.3

 
$
261.5

 
$
568.8

 
$
(599.2
)
 
$
5,570.4

Cost of products sold (exclusive of items shown separately below)
—

 
5,012.1

 
189.0

 
463.3

 
(556.6
)
 
5,107.8

Selling and administrative expenses (exclusive of items shown separately below)
4.4

 
205.0

 
10.5

 
26.2

 
(40.8
)
 
205.3

Depreciation
—

 
169.4

 
4.3

 
16.4

 
—

 
190.1

Pension and OPEB expense (income)
—

 
(68.6
)
 
—

 
—

 
—

 
(68.6
)
Total operating costs
4.4

 
5,317.9

 
203.8

 
505.9

 
(597.4
)
 
5,434.6

Operating profit (loss)
(4.4
)
 
21.4

 
57.7

 
62.9

 
(1.8
)
 
135.8

Interest expense
—

 
125.9

 
—

 
1.5

 
—

 
127.4

Other income (expense)
—

 
(5.9
)
 
6.1

 
(1.6
)
 
—

 
(1.4
)
Income (loss) before income taxes
(4.4
)
 
(110.4
)
 
63.8

 
59.8

 
(1.8
)
 
7.0

Income tax expense (benefit)
—

 
(27.8
)
 
20.1

 
(2.0
)
 
(0.7
)
 
(10.4
)
Equity in net income (loss) of subsidiaries
(42.4
)
 
40.2

 
—

 
—

 
2.2

 
—

Net income (loss)
(46.8
)
 
(42.4
)
 
43.7

 
61.8

 
1.1

 
17.4

Less: Net income attributable to noncontrolling interests
—

 
—

 
—

 
64.2

 
—

 
64.2

Net income (loss) attributable to AK Steel Holding Corporation
(46.8
)
 
(42.4
)
 
43.7

 
(2.4
)
 
1.1

 
(46.8
)
Other comprehensive income (loss)
322.3

 
322.3

 
—

 
1.2

 
(323.5
)
 
322.3

Comprehensive income (loss) attributable to AK Steel Holding Corporation
$
275.5

 
$
279.9

 
$
43.7

 
$
(1.2
)
 
$
(322.4
)
 
$
275.5
Condensed Balance Sheets
Condensed Balance Sheets
December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
AK
Holding
 
AK
Steel
 
Guarantor Subsidiaries of the Senior Notes
 
Other Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated Company
ASSETS
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
27.0

 
$
—

 
$
29.6

 
$
—

 
$
56.6

Accounts receivable, net
—

 
411.9

 
23.5

 
32.0

 
(22.5
)
 
444.9

Inventory, net
—

 
1,149.6

 
26.1

 
60.6

 
(10.0
)
 
1,226.3

Other current assets
—

 
75.6

 
0.3

 
2.5

 
—

 
78.4

Total current assets
—

 
1,664.1

 
49.9

 
124.7

 
(32.5
)
 
1,806.2

Property, plant and equipment
—

 
5,763.8

 
103.1

 
599.1

 
—

 
6,466.0

Accumulated depreciation
—

 
(4,218.0
)
 
(75.4
)
 
(86.1
)
 
—

 
(4,379.5
)
Property, plant and equipment, net
—

 
1,545.8

 
27.7

 
513.0

 
—

 
2,086.5

Other non-current assets:
 
 
 
 
 
 
 
 
 
 
 
Investment in affiliates
—

 
42.6

 
—

 
28.1

 
—

 
70.7

Investment in subsidiaries
(3,541.0
)
 
1,346.0

 
—

 
—

 
2,195.0

 
—

Inter-company accounts
2,563.4

 
(3,600.9
)
 
1,403.0

 
(390.8
)
 
25.3

 
—

Other non-current assets
—

 
83.0

 
33.0

 
5.0

 
—

 
121.0

TOTAL ASSETS
$
(977.6
)
 
$
1,080.6

 
$
1,513.6

 
$
280.0

 
$
2,187.8

 
$
4,084.4

LIABILITIES AND EQUITY (DEFICIT)
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
669.0

 
$
6.3

 
$
29.1

 
$
(1.0
)
 
$
703.4

Accrued liabilities
—

 
242.3

 
2.8

 
16.4

 
—

 
261.5

Current portion of pension and other postretirement benefit obligations
—

 
77.3

 
—

 
0.4

 
—

 
77.7

Total current liabilities
—

 
988.6

 
9.1

 
45.9

 
(1.0
)
 
1,042.6

Non-current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
—

 
2,354.1

 
—

 
—

 
—

 
2,354.1

Pension and other postretirement benefit obligations
—

 
1,143.6

 
—

 
3.3

 
—

 
1,146.9

Other non-current liabilities
—

 
135.3

 
—

 
1.1

 
—

 
136.4

TOTAL LIABILITIES
—

 
4,621.6

 
9.1

 
50.3

 
(1.0
)
 
4,680.0

Equity (deficit):
 
 
 
 
 
 
 
 
 
 
 
Total stockholders’ equity (deficit)
(977.6
)
 
(3,541.0
)
 
1,504.5

 
(152.3
)
 
2,188.8

 
(977.6
)
Noncontrolling interests
—

 
—

 
—

 
382.0

 
—

 
382.0

TOTAL EQUITY (DEFICIT)
(977.6
)
 
(3,541.0
)
 
1,504.5

 
229.7

 
2,188.8

 
(595.6
)
TOTAL LIABILITIES AND EQUITY (DEFICIT)
$
(977.6
)
 
$
1,080.6

 
$
1,513.6

 
$
280.0

 
$
2,187.8

 
$
4,084.4


Condensed Balance Sheets
December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
AK
Holding
 
AK
Steel
 
Guarantor Subsidiaries of the Senior Notes
 
Other Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated Company
ASSETS
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
28.5

 
$
0.5

 
$
41.2

 
$
—

 
$
70.2

Accounts receivable, net
—

 
606.2

 
27.6

 
37.3

 
(26.8
)
 
644.3

Inventory, net
—

 
1,080.5

 
26.2

 
73.5

 
(8.1
)
 
1,172.1

Other current assets
0.3

 
67.9

 
0.2

 
3.0

 
—

 
71.4

Total current assets
0.3

 
1,783.1

 
54.5

 
155.0

 
(34.9
)
 
1,958.0

Property, plant and equipment
—

 
5,695.8

 
97.3

 
595.3

 
—

 
6,388.4

Accumulated depreciation
—

 
(4,040.8
)
 
(71.8
)
 
(62.6
)
 
—

 
(4,175.2
)
Property, plant and equipment, net
—

 
1,655.0

 
25.5

 
532.7

 
—

 
2,213.2

Other non-current assets:
 
 
 
 
 
 
 
 
 
 
 
Investment in affiliates
—

 
84.5

 
—

 
304.2

 
—

 
388.7

Investment in subsidiaries
(2,970.9
)
 
1,582.4

 
—

 
—

 
1,388.5

 
—

Inter-company accounts
2,478.1

 
(3,420.4
)
 
1,325.5

 
(412.4
)
 
29.2

 
—

Other non-current assets
—

 
174.4

 
33.0

 
60.7

 
—

 
268.1

TOTAL ASSETS
$
(492.5
)
 
$
1,859.0

 
$
1,438.5

 
$
640.2

 
$
1,382.8

 
$
4,828.0

LIABILITIES AND EQUITY (DEFICIT)
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
754.9

 
$
6.9

 
$
42.0

 
$
(0.7
)
 
$
803.1

Accrued liabilities
—

 
244.6

 
3.0

 
18.9

 
—

 
266.5

Current portion of pension and other postretirement benefit obligations
—

 
55.3

 
—

 
0.3

 
—

 
55.6

Total current liabilities
—

 
1,054.8

 
9.9

 
61.2

 
(0.7
)
 
1,125.2

Non-current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
—

 
2,422.0

 
—

 
—

 
—

 
2,422.0

Pension and other postretirement benefit obligations
—

 
1,221.3

 
—

 
4.0

 
—

 
1,225.3

Other non-current liabilities
—

 
131.8

 
—

 
0.7

 
—

 
132.5

TOTAL LIABILITIES
—

 
4,829.9

 
9.9

 
65.9

 
(0.7
)
 
4,905.0

Equity (deficit):
 
 
 
 
 
 
 
 
 
 
 
Total stockholders’ equity (deficit)
(492.5
)
 
(2,970.9
)
 
1,428.6

 
158.8

 
1,383.5

 
(492.5
)
Noncontrolling interests
—

 
—

 
—

 
415.5

 
—

 
415.5

TOTAL EQUITY (DEFICIT)
(492.5
)
 
(2,970.9
)
 
1,428.6

 
574.3

 
1,383.5

 
(77.0
)
TOTAL LIABILITIES AND EQUITY (DEFICIT)
$
(492.5
)
 
$
1,859.0

 
$
1,438.5

 
$
640.2

 
$
1,382.8

 
$
4,828.0
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows
Year Ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
AK
Holding
 
AK
Steel
 
Guarantor Subsidiaries of the Senior Notes
 
Other Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated Company
Net cash flows from operating activities
$
(3.7
)
 
$
49.0

 
$
53.9

 
$
104.8

 
$
(3.7
)
 
$
200.3

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
Capital investments
—

 
(85.0
)
 
(5.8
)
 
(8.2
)
 
—

 
(99.0
)
Proceeds from sale of equity investee
—

 
25.0

 
—

 
—

 
—

 
25.0

Proceeds from AFSG Holdings, Inc. distribution
—

 
—

 
—

 
14.0

 
—

 
14.0

Other investing items, net
—

 
12.5

 
—

 
—

 
—

 
12.5

Net cash flows from investing activities
—

 
(47.5
)
 
(5.8
)
 
5.8

 
—

 
(47.5
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
Net borrowings (repayments) under credit facility
—

 
(55.0
)
 
—

 
—

 
—

 
(55.0
)
Redemption of long-term debt
—

 
(14.1
)
 
—

 
—

 
—

 
(14.1
)
Inter-company activity
4.7

 
66.1

 
(48.6
)
 
(25.9
)
 
3.7

 
—

SunCoke Middletown distributions to noncontrolling interest owners
—

 
—

 
—

 
(96.3
)
 
—

 
(96.3
)
Other financing items, net
(1.0
)
 
—

 
—

 
—

 
—

 
(1.0
)
Net cash flows from financing activities
3.7

 
(3.0
)
 
(48.6
)
 
(122.2
)
 
3.7

 
(166.4
)
Net increase (decrease) in cash and cash equivalents
—

 
(1.5
)
 
(0.5
)
 
(11.6
)
 
—

 
(13.6
)
Cash and equivalents, beginning of year
—

 
28.5

 
0.5

 
41.2

 
—

 
70.2

Cash and equivalents, end of year
$
—

 
$
27.0

 
$
—

 
$
29.6

 
$
—

 
$
56.6


Condensed Statements of Cash Flows
Year Ended December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
AK
Holding
 
AK
Steel
 
Guarantor Subsidiaries of the Senior Notes
 
Other Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated Company
Net cash flows from operating activities
$
(3.4
)
 
$
(447.2
)
 
$
39.2

 
$
91.3

 
$
(2.7
)
 
$
(322.8
)
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
Capital investments
—

 
(63.1
)
 
(2.8
)
 
(15.2
)
 
—

 
(81.1
)
Investments in Magnetation joint venture
—

 
—

 
—

 
(100.0
)
 
—

 
(100.0
)
Investments in acquired business, net of cash acquired
—

 
(690.3
)
 
—

 
—

 
—

 
(690.3
)
Other investing items, net
—

 
13.6

 
—

 
—

 
—

 
13.6

Net cash flows from investing activities
—

 
(739.8
)
 
(2.8
)
 
(115.2
)
 
—

 
(857.8
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
Net borrowings (repayments) under credit facility
—

 
515.0

 
—

 
—

 
—

 
515.0

Proceeds from issuance of long-term debt
—

 
427.1

 
—

 
—

 
—

 
427.1

Redemption of long-term debt
—

 
(0.8
)
 
—

 
—

 
—

 
(0.8
)
Proceeds from issuance of common stock
345.3

 
—

 
—

 
—

 
—

 
345.3

Debt issuance costs
—

 
(15.5
)
 
—

 
—

 
—

 
(15.5
)
Inter-company activity
(341.0
)
 
272.9

 
(35.9
)
 
101.3

 
2.7

 
—

SunCoke Middletown distributions to noncontrolling interest owners
—

 
—

 
—

 
(61.0
)
 
—

 
(61.0
)
Other financing items, net
(0.9
)
 
—

 
—

 
(3.7
)
 
—

 
(4.6
)
Net cash flows from financing activities
3.4

 
1,198.7

 
(35.9
)
 
36.6

 
2.7

 
1,205.5

Net increase (decrease) in cash and cash equivalents
—

 
11.7

 
0.5

 
12.7

 
—

 
24.9

Cash and equivalents, beginning of year
—

 
16.8

 
—

 
28.5

 
—

 
45.3

Cash and equivalents, end of year
$
—

 
$
28.5

 
$
0.5

 
$
41.2

 
$
—

 
$
70.2


Condensed Statements of Cash Flows
Year Ended December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
AK
Holding
 
AK
Steel
 
Guarantor Subsidiaries of the Senior Notes
 
Other Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated Company
Net cash flows from operating activities
$
(3.5
)
 
$
(251.1
)
 
$
50.4

 
$
129.6

 
$
(35.6
)
 
$
(110.2
)
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
Capital investments
—

 
(39.2
)
 
(1.7
)
 
(22.7
)
 
—

 
(63.6
)
Investments in acquired businesses
—

 
—

 
—

 
(50.0
)
 
—

 
(50.0
)
Other investing items, net
—

 
8.5

 
0.3

 
6.3

 
—

 
15.1

Net cash flows from investing activities
—

 
(30.7
)
 
(1.4
)
 
(66.4
)
 
—

 
(98.5
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
Net borrowings (repayments) under credit facility
—

 
90.0

 
—

 
—

 
—

 
90.0

Proceeds from issuance of long-term debt
—

 
31.9

 
—

 
—

 
—

 
31.9

Redemption of long-term debt
—

 
(27.4
)
 
—

 
—

 
—

 
(27.4
)
Debt issuance costs
—

 
(3.4
)
 
—

 
—

 
—

 
(3.4
)
Inter-company activity
4.1

 
3.9

 
(49.0
)
 
5.4

 
35.6

 
—

SunCoke Middletown distributions to noncontrolling interest owners
—

 
—

 
—

 
(64.8
)
 
—

 
(64.8
)
Other financing items, net
(0.6
)
 
—

 
—

 
1.3

 
—

 
0.7

Net cash flows from financing activities
3.5

 
95.0

 
(49.0
)
 
(58.1
)
 
35.6

 
27.0

Net increase (decrease) in cash and cash equivalents
—

 
(186.8
)
 
—

 
5.1

 
—

 
(181.7
)
Cash and equivalents, beginning of year
—

 
203.6

 
—

 
23.4

 
—

 
227.0

Cash and equivalents, end of year
$
—

 
$
16.8

 
$
—

 
$
28.5

 
$
—

 
$
45.3