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Supplementary Financial Statement Information (Tables)
 6 Months Ended
Jun. 30, 2018
Inventory Disclosure [Abstract]  
Disaggregation of Revenue Net sales by market are presented below:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Automotive
$
1,108.7

 
$
1,007.7

 
$
2,227.8

 
$
2,037.2

Infrastructure and Manufacturing
263.8

 
249.0

 
505.1

 
478.6

Distributors and Converters
374.1

 
300.5

 
672.6

 
574.8

Total
$
1,746.6

 
$
1,557.2

 
$
3,405.5

 
$
3,090.6


Net sales by product line are presented below:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Carbon steel
$
1,102.4

 
$
1,048.1

 
$
2,171.0

 
$
2,077.3

Stainless and electrical steel
483.1

 
444.1

 
909.2

 
878.0

Tubular products, components and other
161.1

 
65.0

 
325.3

 
135.3

Total
$
1,746.6

 
$
1,557.2

 
$
3,405.5

 
$
3,090.6
Inventory Inventories as of June 30, 2018 and December 31, 2017, are presented below:
 
June 30,
2018
 
December 31,
2017
Finished and semi-finished
$
987.1

 
$
996.8

Raw materials
323.9

 
388.2

Inventory
$
1,311.0

 
$
1,385.0
Schedule of Changes in Accounting Principles As a result of the retrospective application of the change in accounting principle, certain financial statement line items in our condensed consolidated balance sheet as of December 31, 2017 and our condensed consolidated statements of operations and comprehensive income and cash flows for the three and six months ended June 30, 2017 were adjusted as follows:
 
As Originally Reported
 
Effect of Change
 
As Adjusted
Condensed consolidated statement of operations for the three months ended June 30, 2017:
 
 
 
 
 
Cost of products sold (a)
$
1,345.1

 
$
(25.1
)
 
$
1,320.0

Income tax expense (benefit)
(8.7
)
 
9.1

 
0.4

Net income
76.4

 
16.0

 
92.4

Net income attributable to AK Steel Holding Corporation
61.2

 
16.0

 
77.2

Net income per share attributable to AK Steel Holding Corporation common stockholders:
 
 

 
 
Basic
$
0.19

 
$
0.06

 
$
0.25

Diluted
0.19

 
0.05

 
0.24

 
 
 
 
 
 
Condensed consolidated statement of operations for the six months ended June 30, 2017:
 
 
 
 
 
Cost of products sold (a)
$
2,657.3

 
$
(60.4
)
 
$
2,596.9

Income tax expense (benefit)
(22.1
)
 
22.5

 
0.4

Net income
155.1

 
37.9

 
193.0

Net income attributable to AK Steel Holding Corporation
123.7

 
37.9

 
161.6

Net income per share attributable to AK Steel Holding Corporation common stockholders:
 
 
 
 
 
Basic
$
0.39

 
$
0.12

 
$
0.51

Diluted
0.38

 
0.12

 
0.50

 
 
 
 
 
 
Condensed consolidated statement of comprehensive income for the three months ended June 30, 2017:
 
 
 
 
 
Cash flow hedges—Reclassification of losses (gains) to net income
$
(2.1
)
 
$
0.8

 
$
(1.3
)
Comprehensive income
56.5

 
16.8

 
73.3

Comprehensive income attributable to AK Steel Holding Corporation
41.3

 
16.8

 
58.1

 
 
 
 
 
 
Condensed consolidated statement of comprehensive income for the six months ended June 30, 2017:
 
 
 
 
 
Cash flow hedges—Reclassification of losses (gains) to net income
$
(5.3
)
 
$
3.4

 
$
(1.9
)
Comprehensive income
112.5

 
41.3

 
153.8

Comprehensive income attributable to AK Steel Holding Corporation
81.1

 
41.3

 
122.4

 
 
 
 
 
 
Condensed consolidated balance sheet as of December 31, 2017:
 
 
 
 
 
Inventory
$
1,147.8

 
$
237.2

 
$
1,385.0

Other non-current assets
476.0

 
(58.5
)
 
417.5

Other non-current liabilities
161.6

 
7.3

 
168.9

Accumulated deficit
(3,058.6
)
 
181.6

 
(2,877.0
)
Accumulated other comprehensive loss
(40.0
)
 
(10.2
)
 
(50.2
)
 
As Originally Reported
 
Effect of Change
 
As Adjusted
 
 
 
 
 
 
Condensed consolidated statement of cash flows for the six months ended June 30, 2017:
 
 
 
 
 
Net income
$
155.1

 
$
37.9

 
$
193.0

Deferred income taxes
(17.9
)
 
22.5

 
4.6

Changes in working capital
6.5

 
(63.8
)
 
(57.3
)
Other operating items, net
(2.5
)
 
3.4

 
0.9

(a)
Cost of products sold as originally reported reflects the change in presentation of pension and OPEB (income) expense further described in Note 1.

The following table shows the effects of the change in accounting principle from LIFO to average cost as of June 30, 2018 and for the three and six months ended June 30, 2018:

As Computed under LIFO
 
As Reported under Average Cost
 
Effect of Change
Condensed consolidated statement of operations for the three months ended June 30, 2018:
 
 
 
 
 
Cost of products sold
$
1,526.2

 
$
1,512.7

 
$
(13.5
)
Income tax expense (benefit)
(3.8
)
 
(0.5
)
 
3.3

Net income
62.1

 
72.3

 
10.2

Net income attributable to AK Steel Holding Corporation
46.4

 
56.6

 
10.2

Net income per share attributable to AK Steel Holding Corporation common stockholders:
 
 
 
 
 
Basic
$
0.15

 
$
0.18

 
$
0.03

Diluted
0.15

 
0.18

 
0.03

 
 
 
 
 
 
Condensed consolidated statement of operations for the six months ended June 30, 2018:
 
 
 
 
 
Cost of products sold
$
3,005.1

 
$
2,976.4

 
$
(28.7
)
Income tax expense (benefit)
(12.0
)
 
(5.4
)
 
6.6

Net income
95.0

 
117.1

 
22.1

Net income attributable to AK Steel Holding Corporation
63.2

 
85.3

 
22.1

Net income per share attributable to AK Steel Holding Corporation common stockholders:
 
 
 
 
 
Basic
$
0.20

 
$
0.27

 
$
0.07

Diluted
0.20

 
0.27

 
0.07

 
 
 
 
 
 
Condensed consolidated statement of comprehensive income for the three months ended June 30, 2018:
 
 
 
 
 
Comprehensive income
$
51.4

 
$
61.6

 
$
10.2

Comprehensive income attributable to AK Steel Holding Corporation
35.7

 
45.9

 
10.2

 
 
 
 
 
 
Condensed consolidated statement of comprehensive income for the six months ended June 30, 2018:
 
 
 
 
 
Comprehensive income
$
77.6

 
$
99.7

 
$
22.1

Comprehensive income attributable to AK Steel Holding Corporation
45.8

 
67.9

 
22.1

 
 
 
 
 
 
Condensed consolidated balance sheet as of June 30, 2018:
 
 
 
 
 
Inventory
$
1,046.8

 
$
1,311.0

 
$
264.2

Other non-current assets
476.1

 
405.7

 
(70.4
)
Other non-current liabilities
143.6

 
145.6

 
2.0

Accumulated deficit
(2,996.2
)
 
(2,792.5
)
 
203.7

 
 
 
 
 
 
Condensed consolidated statement of cash flows for the six months ended June 30, 2018:
 
 
 
 
 
Net income
$
95.0

 
$
117.1

 
$
22.1

Deferred income taxes
(13.8
)
 
(7.2
)
 
6.6

Changes in working capital
55.8

 
28.8

 
(27.0
)
Other operating items, net
(26.0
)
 
(27.7
)
 
(1.7
)
Schedule of Goodwill The change in goodwill for the six months ended June 30, 2018, was as follows.
 
2018
Balance at beginning of period
$
253.8

Adjustment to acquisition purchase price
1.2

Balance at end of period
$
255.0
Schedule of Intangible Assets Intangible assets at June 30, 2018 and December 31, 2017, consist of:
 
Gross Amount
 
Accumulated Amortization
 
Net Amount
As of June 30, 2018
 
 
 
 
 
Customer relationships
$
36.6

 
$
(4.8
)
 
$
31.8

Technology
19.3

 
(3.0
)
 
16.3

Other
1.0

 
(0.9
)
 
0.1

Intangible assets
$
56.9

 
$
(8.7
)
 
$
48.2

 
 
 
 
 
 
As of December 31, 2017
 
 
 
 
 
Customer relationships
$
36.6

 
$
(2.2
)
 
$
34.4

Technology
19.3

 
(1.4
)
 
17.9

Other
1.0

 
(0.4
)
 
0.6

Intangible assets
$
56.9

 
$
(4.0
)
 
$
52.9
Investments in Affiliates Summarized financial statement data for all investees is presented below.
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2018
 
2017
 
2018
 
2017
Revenue
 
$
83.5

 
$
76.8

 
$
158.3

 
$
149.3

Gross profit
 
23.6

 
23.6

 
44.7

 
49.1

Net income
 
5.1

 
6.5

 
9.3

 
15.4

 
 
 
 
 
 
 
 
 
Our share of income of equity investees (included in cost of products sold)
 
1.7

 
2.2

 
3.0

 
5.6