Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2016

Supplemental Guarantor Information [Abstract]

Schedule of Condensed Comprehensive Income (Loss)

Condensed Consolidated Statements of Comprehensive Income (Loss)
Three Months Ended March 31, 2016
	AK Holding			AK Steel			Guarantor Subsidiaries of the Senior Notes		Other Non-Guarantor Subsidiaries		Eliminations			Consolidated Company
Net sales	$	—		$	1,468.2		$	58.7	$	118.1	$	(126.2	)	$	1,518.8
Cost of products sold (exclusive of items shown separately below)	—			1,351.3			39.8		87.7		(113.3		)	1,365.5
Selling and administrative expenses (exclusive of items shown separately below)	1.3			64.5			2.6		6.5		(11.4		)	63.5
Depreciation	—			46.4			1.0		6.3		—			53.7
Pension and OPEB expense (income)	—			(11.9		)	—		—		—			(11.9		)
Total operating costs	1.3			1,450.3			43.4		100.5		(124.7		)	1,470.8
Operating profit (loss)	(1.3		)	17.9			15.3		17.6		(1.5		)	48.0
Interest expense	—			42.3			—		0.5		—			42.8
Other income (expense)	—			(4.1		)	2.0		1.4		—			(0.7		)
Income (loss) before income taxes	(1.3		)	(28.5		)	17.3		18.5		(1.5		)	4.5
Income tax expense (benefit)	—			(6.1		)	6.6		0.2		(0.6		)	0.1
Equity in net income (loss) of subsidiaries	(11.1		)	10.1			—		—		1.0			—
Net income (loss)	(12.4		)	(12.3		)	10.7		18.3		0.1			4.4
Less: Net income attributable to noncontrolling interests	—			—			—		18.0		—			18.0
Net income (loss) attributable to AK Steel Holding Corporation	(12.4		)	(12.3		)	10.7		0.3		0.1			(13.6		)
Other comprehensive income (loss)	(1.0		)	(1.0		)	—		1.5		(0.5		)	(1.0		)
Comprehensive income (loss) attributable to AK Steel Holding Corporation	$	(13.4	)	$	(13.3	)	$	10.7	$	1.8	$	(0.4	)	$	(14.6	)

Condensed Consolidated Statements of Comprehensive Income (Loss)
Three Months Ended March 31, 2015
	AK Holding			AK Steel			Guarantor Subsidiaries of the Senior Notes		Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net sales	$	—		$	1,702.5		$	65.8	$	124.4		$	(141.8	)	$	1,750.9
Cost of products sold (exclusive of items shown separately below)	—			1,609.4			44.8		95.1			(140.7		)	1,608.6
Selling and administrative expenses (exclusive of items shown separately below)	1.7			70.8			3.0		6.6			(12.9		)	69.2
Depreciation	—			48.4			1.0		6.0			—			55.4
Pension and OPEB expense (income)	—			(16.1		)	—		—			—			(16.1		)
Total operating costs	1.7			1,712.5			48.8		107.7			(153.6		)	1,717.1
Operating profit (loss)	(1.7		)	(10.0		)	17.0		16.7			11.8			33.8
Interest expense	—			43.4			—		0.5			—			43.9
Impairment of Magnetation investment	—			—			—		(256.3		)	—			(256.3		)
Other income (expense)	—			(2.6		)	1.6		(15.7		)	—			(16.7		)
Income (loss) before income taxes	(1.7		)	(56.0		)	18.6		(255.8		)	11.8			(283.1		)
Income tax expense (benefit)	—			1.5			7.5		(6.1		)	4.8			7.7
Equity in net income (loss) of subsidiaries	(304.5		)	(247.0		)	—		—			551.5			—
Net income (loss)	(306.2		)	(304.5		)	11.1		(249.7		)	558.5			(290.8		)
Less: Net income attributable to noncontrolling interests	—			—			—		15.5			—			15.5
Net income (loss) attributable to AK Steel Holding Corporation	(306.2		)	(304.5		)	11.1		(265.2		)	558.5			(306.3		)
Other comprehensive income (loss)	(10.2		)	(10.2		)	—		(3.2		)	13.4			(10.2		)
Comprehensive income (loss) attributable to AK Steel Holding Corporation	$	(316.4	)	$	(314.7	)	$	11.1	$	(268.4	)	$	571.9		$	(316.5	)

Schedule of Condensed Balance Sheet

Condensed Consolidated Balance Sheets
March 31, 2016
	AK Holding			AK Steel			Guarantor Subsidiaries of the Senior Notes			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	85.9		$	0.1		$	27.0		$	—		$	113.0
Accounts receivable, net	—			452.9			25.8			35.5			(25.5		)	488.7
Inventory, net	—			992.6			24.8			63.2			(11.7		)	1,068.9
Other current assets	—			68.0			0.4			3.4			—			71.8
Total current assets	—			1,599.4			51.1			129.1			(37.2		)	1,742.4
Property, plant and equipment	—			5,785.5			103.5			599.4			—			6,488.4
Accumulated depreciation	—			(4,264.1		)	(76.5		)	(92.1		)	—			(4,432.7		)
Property, plant and equipment, net	—			1,521.4			27.0			507.3			—			2,055.7
Investment in subsidiaries	(3,311.1		)	1,380.2			—			—			1,930.9			—
Inter-company accounts	2,320.6			(3,390.4		)	1,441.6			(401.0		)	29.2			—
Other non-current assets	—			121.2			32.8			35.2			—			189.2
TOTAL ASSETS	$	(990.5	)	$	1,231.8		$	1,552.5		$	270.6		$	1,922.9		$	3,987.3
LIABILITIES AND EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	—		$	609.8		$	6.4		$	27.8		$	(0.7	)	$	643.3
Accrued liabilities	—			252.4			2.2			15.4			—			270.0
Current portion of pension and other postretirement benefit obligations	—			78.1			—			0.3			—			78.4
Total current liabilities	—			940.3			8.6			43.5			(0.7		)	991.7
Non-current liabilities:
Long-term debt	—			2,336.4			—			—			—			2,336.4
Pension and other postretirement benefit obligations	—			1,129.0			—			3.4			—			1,132.4
Other non-current liabilities	—			137.2			—			1.2			—			138.4
TOTAL LIABILITIES	—			4,542.9			8.6			48.1			(0.7		)	4,598.9
Equity (deficit):
Total stockholders’ equity (deficit)	(990.5		)	(3,311.1		)	1,543.9			(156.4		)	1,923.6			(990.5		)
Noncontrolling interests	—			—			—			378.9			—			378.9
TOTAL EQUITY (DEFICIT)	(990.5		)	(3,311.1		)	1,543.9			222.5			1,923.6			(611.6		)
TOTAL LIABILITIES AND EQUITY (DEFICIT)	$	(990.5	)	$	1,231.8		$	1,552.5		$	270.6		$	1,922.9		$	3,987.3

Condensed Consolidated 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
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	—			125.6			33.0			33.1			—			191.7
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

Schedule of Condensed Cash Flow Statement

Condensed Consolidated Statements of Cash Flows
Three Months Ended March 31, 2016
	AK Holding			AK Steel			Guarantor Subsidiaries of the Senior Notes			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net cash flows from operating activities	$	(1.3	)	$	108.1		$	10.7		$	15.1		$	4.1		$	136.7
Cash flows from investing activities:
Capital investments	—			(27.2		)	(0.7		)	(0.9		)	—			(28.8		)
Other investing items, net	—			—			—			(0.1		)	—			(0.1		)
Net cash flows from investing activities	—			(27.2		)	(0.7		)	(1.0		)	—			(28.9		)
Cash flows from financing activities:
Net borrowings (payments) under credit facility	—			(30.0		)	—			—			—			(30.0		)
Inter-company activity	1.6			8.0			(9.9		)	4.4			(4.1		)	—
SunCoke Middletown distributions to noncontrolling interest owners	—			—			—			(21.1		)	—			(21.1		)
Other financing items, net	(0.3		)	—			—			—			—			(0.3		)
Net cash flows from financing activities	1.3			(22.0		)	(9.9		)	(16.7		)	(4.1		)	(51.4		)
Net increase (decrease) in cash and cash equivalents	—			58.9			0.1			(2.6		)	—			56.4
Cash and equivalents, beginning of period	—			27.0			—			29.6			—			56.6
Cash and equivalents, end of period	$	—		$	85.9		$	0.1		$	27.0		$	—		$	113.0

Condensed Consolidated Statements of Cash Flows
Three Months Ended March 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	$	(1.4	)	$	(40.7	)	$	11.2		$	32.3		$	(4.1	)	$	(2.7	)
Cash flows from investing activities:
Capital investments	—			(26.2		)	(0.8		)	(1.3		)	—			(28.3		)
Other investing items, net	—			(5.7		)	—			0.1			—			(5.6		)
Net cash flows from investing activities	—			(31.9		)	(0.8		)	(1.2		)	—			(33.9		)
Cash flows from financing activities:
Net borrowings under credit facility	—			75.0			—			—			—			75.0
Inter-company activity	2.3			4.1			(10.8		)	0.3			4.1			—
SunCoke Middletown distributions to noncontrolling interest owners	—			—			—			(18.3		)	—			(18.3		)
Other financing items, net	(0.9		)	—			—			—			—			(0.9		)
Net cash flows from financing activities	1.4			79.1			(10.8		)	(18.0		)	4.1			55.8
Net increase (decrease) in cash and cash equivalents	—			6.5			(0.4		)	13.1			—			19.2
Cash and equivalents, beginning of period	—			28.5			0.5			41.2			—			70.2
Cash and equivalents, end of period	$	—		$	35.0		$	0.1		$	54.3		$	—		$	89.4