XML 78 R64.htm IDEA: XBRL DOCUMENT v3.10.0.1
Supplementary Guarantor Information (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Dec. 31, 2016
Condensed Consolidated Statements of Comprehensive Income (Loss) [Abstract]            
Net sales $ 1,746.6 $ 1,557.2 $ 3,405.5 $ 3,090.6    
Cost of products sold (exclusive of item shown separately below) 1,512.7 1,320.0 2,976.4 2,596.9    
Selling and administrative expenses 79.5 65.6 156.2 137.3    
Depreciation 54.9 55.1 109.8 110.2    
Total operating costs 1,647.1 1,440.7 3,242.4 2,844.4    
Operating profit (loss) 99.5 116.5 163.1 246.2    
Interest expense 37.9 38.2 75.5 77.6    
Pension and OPEB (income) expense (10.0) (18.1) (20.0) (36.2)    
Other (income) expense (0.2) 3.6 (4.1) 11.4    
Income (loss) before income taxes 71.8 92.8 111.7 193.4    
Income tax expense (benefit) (0.5) 0.4 (5.4) 0.4    
Equity in net income (loss) of subsidiaries 0.0 0.0 0.0 0.0    
Net income 72.3 92.4 117.1 193.0    
Less: Net income attributable to noncontrolling interests 15.7 15.2 31.8 31.4    
Net income attributable to AK Steel Holding Corporation 56.6 77.2 85.3 161.6    
Other comprehensive income (loss) (10.7) (19.1) (17.4) (39.2)    
Comprehensive income attributable to AK Steel Holding Corporation 45.9 58.1 67.9 122.4    
Current assets:            
Cash and Cash Equivalents, at Carrying Value 46.0       $ 38.0  
Accounts receivable, net 653.0       517.8  
Inventory 1,311.0       1,385.0  
Other current assets 98.4       130.3  
Total current assets 2,108.4       2,071.1  
Property, plant and equipment 6,884.8       6,831.8  
Accumulated depreciation (4,953.6)       (4,845.6)  
Property, plant and equipment, net 1,931.2       1,986.2  
Investment in subsidiaries 0.0       0.0  
Inter-company accounts 0.0       0.0  
Other non-current assets 405.7       417.5  
TOTAL ASSETS 4,445.3       4,474.8  
Current liabilities:            
Accounts payable 768.3       690.4  
Accrued liabilities 243.4       270.5  
Current portion of pension and other postretirement benefit obligations 39.2       40.1  
Total current liabilities 1,050.9       1,001.0  
Non-current liabilities:            
Long-term debt 2,036.6       2,110.1  
Pension and other postretirement benefit obligations 841.4       894.2  
Inter-company accounts 0.0       0.0  
Other non-current liabilities 145.6       168.9  
TOTAL LIABILITIES 4,074.5       4,174.2  
Equity [Abstract]            
Total stockholders' equity (deficit) 28.6       (44.6)  
Noncontrolling interests 342.2       345.2  
TOTAL EQUITY 370.8 286.0     300.6 $ 149.8
TOTAL LIABILITIES AND EQUITY 4,445.3       4,474.8  
Condensed Consolidated Statements of Cash Flows [Abstract]            
Net cash flows from operating activities     187.4 203.2    
Cash flows from investing activities:            
Capital investments     (64.0) (52.1)    
Other investing items, net     0.3 2.9    
Net cash flows from investing activities     (63.7) (49.2)    
Cash flows from financing activities:            
Net borrowings (payments) under credit facility     (80.0) 0.0    
Proceeds from issuance of long-term debt     0.0 400.0    
Redemption of long-term debt     0.0 (538.2)    
Debt issuance costs     0.0 (8.3)    
Inter-company activity     0.0 0.0    
SunCoke Middletown distributions to noncontrolling interest owners     (34.8) (41.9)    
Other financing items, net     (0.9) (2.5)    
Net cash flows from financing activities     (115.7) (190.9)    
Net increase (decrease) in cash and cash equivalents     8.0 (36.9)    
Cash and cash equivalents, beginning of period     38.0 173.2    
Cash and equivalents, end of period 46.0 136.3 38.0 173.2 38.0 173.2
AK Holding [Member]            
Condensed Consolidated Statements of Comprehensive Income (Loss) [Abstract]            
Net sales 0.0 0.0 0.0 0.0    
Cost of products sold (exclusive of item shown separately below) 0.0 0.0 0.0 0.0    
Selling and administrative expenses 0.8 1.0 2.1 2.4    
Depreciation 0.0 0.0 0.0 0.0    
Total operating costs 0.8 1.0 2.1 2.4    
Operating profit (loss) (0.8) (1.0) (2.1) (2.4)    
Interest expense 0.0 0.0 0.0 0.0    
Pension and OPEB (income) expense 0.0 0.0 0.0 0.0    
Other (income) expense 0.0 0.0 0.0 0.0    
Income (loss) before income taxes (0.8) (1.0) (2.1) (2.4)    
Income tax expense (benefit) 0.0 0.0 0.0 0.0    
Equity in net income (loss) of subsidiaries 57.4 78.2 87.4 164.0    
Net income 56.6 77.2 85.3 161.6    
Less: Net income attributable to noncontrolling interests 0.0 0.0 0.0 0.0    
Net income attributable to AK Steel Holding Corporation 56.6 77.2 85.3 161.6    
Other comprehensive income (loss) (10.7) (19.1) (17.4) (39.2)    
Comprehensive income attributable to AK Steel Holding Corporation 45.9 58.1 67.9 122.4    
Current assets:            
Cash and Cash Equivalents, at Carrying Value 0.0       0.0  
Accounts receivable, net 0.0       0.0  
Inventory 0.0       0.0  
Other current assets 0.0       0.0  
Total current assets 0.0       0.0  
Property, plant and equipment 0.0       0.0  
Accumulated depreciation 0.0       0.0  
Property, plant and equipment, net 0.0       0.0  
Investment in subsidiaries (3,122.3)       (3,127.4)  
Inter-company accounts 3,150.9       3,082.8  
Other non-current assets 0.0       0.0  
TOTAL ASSETS 28.6       (44.6)  
Current liabilities:            
Accounts payable 0.0       0.0  
Accrued liabilities 0.0       0.0  
Current portion of pension and other postretirement benefit obligations 0.0       0.0  
Total current liabilities 0.0       0.0  
Non-current liabilities:            
Long-term debt 0.0       0.0  
Pension and other postretirement benefit obligations 0.0       0.0  
Inter-company accounts 0.0       0.0  
Other non-current liabilities 0.0       0.0  
TOTAL LIABILITIES 0.0       0.0  
Equity [Abstract]            
Total stockholders' equity (deficit) 28.6       (44.6)  
Noncontrolling interests 0.0       0.0  
TOTAL EQUITY 28.6       (44.6)  
TOTAL LIABILITIES AND EQUITY 28.6       (44.6)  
Condensed Consolidated Statements of Cash Flows [Abstract]            
Net cash flows from operating activities     (1.5) (1.8)    
Cash flows from investing activities:            
Capital investments     0.0 0.0    
Other investing items, net     0.0 0.0    
Net cash flows from investing activities     0.0 0.0    
Cash flows from financing activities:            
Net borrowings (payments) under credit facility     0.0      
Proceeds from issuance of long-term debt       0.0    
Redemption of long-term debt       0.0    
Debt issuance costs       0.0    
Inter-company activity     2.4 4.2    
SunCoke Middletown distributions to noncontrolling interest owners     0.0 0.0    
Other financing items, net     (0.9) (2.4)    
Net cash flows from financing activities     1.5 1.8    
Net increase (decrease) in cash and cash equivalents     0.0 0.0    
Cash and cash equivalents, beginning of period     0.0 0.0    
Cash and equivalents, end of period 0.0 0.0 0.0 0.0 0.0 0.0
AK Steel [Member]            
Condensed Consolidated Statements of Comprehensive Income (Loss) [Abstract]            
Net sales 1,599.3 1,498.4 3,102.3 2,972.0    
Cost of products sold (exclusive of item shown separately below) 1,413.4 1,298.0 2,766.8 2,556.0    
Selling and administrative expenses 78.7 68.3 153.6 141.1    
Depreciation 43.4 46.9 86.8 94.1    
Total operating costs 1,535.5 1,413.2 3,007.2 2,791.2    
Operating profit (loss) 63.8 85.2 95.1 180.8    
Interest expense 36.5 37.9 72.9 76.9    
Pension and OPEB (income) expense (10.0) (18.1) (20.0) (36.2)    
Other (income) expense 4.6 7.8 5.8 19.2    
Income (loss) before income taxes 32.7 57.6 36.4 120.9    
Income tax expense (benefit) (6.0) (7.5) (17.9) (16.1)    
Equity in net income (loss) of subsidiaries 18.7 13.1 33.1 27.0    
Net income 57.4 78.2 87.4 164.0    
Less: Net income attributable to noncontrolling interests 0.0 0.0 0.0 0.0    
Net income attributable to AK Steel Holding Corporation 57.4 78.2 87.4 164.0    
Other comprehensive income (loss) (10.7) (19.1) (17.4) (39.2)    
Comprehensive income attributable to AK Steel Holding Corporation 46.7 59.1 70.0 124.8    
Current assets:            
Cash and Cash Equivalents, at Carrying Value 27.0       14.5  
Accounts receivable, net 526.8       432.4  
Inventory 1,184.0       1,231.5  
Other current assets 90.5       124.7  
Total current assets 1,828.3       1,803.1  
Property, plant and equipment 6,048.1       6,004.0  
Accumulated depreciation (4,706.5)       (4,620.8)  
Property, plant and equipment, net 1,341.6       1,383.2  
Investment in subsidiaries 1,902.6       1,844.9  
Inter-company accounts 0.0       0.0  
Other non-current assets 55.7       66.3  
TOTAL ASSETS 5,128.2       5,097.5  
Current liabilities:            
Accounts payable 693.4       623.3  
Accrued liabilities 206.6       228.2  
Current portion of pension and other postretirement benefit obligations 38.9       39.7  
Total current liabilities 938.9       891.2  
Non-current liabilities:            
Long-term debt 2,036.6       2,110.1  
Pension and other postretirement benefit obligations 838.2       890.8  
Inter-company accounts 4,319.1       4,199.6  
Other non-current liabilities 117.7       133.2  
TOTAL LIABILITIES 8,250.5       8,224.9  
Equity [Abstract]            
Total stockholders' equity (deficit) (3,122.3)       (3,127.4)  
Noncontrolling interests 0.0       0.0  
TOTAL EQUITY (3,122.3)       (3,127.4)  
TOTAL LIABILITIES AND EQUITY 5,128.2       5,097.5  
Condensed Consolidated Statements of Cash Flows [Abstract]            
Net cash flows from operating activities     123.0 141.1    
Cash flows from investing activities:            
Capital investments     (51.8) (47.9)    
Other investing items, net     (1.0) 3.0    
Net cash flows from investing activities     (52.8) (44.9)    
Cash flows from financing activities:            
Net borrowings (payments) under credit facility     (80.0)      
Proceeds from issuance of long-term debt       400.0    
Redemption of long-term debt       (538.2)    
Debt issuance costs       (8.3)    
Inter-company activity     22.3 14.1    
SunCoke Middletown distributions to noncontrolling interest owners     0.0 0.0    
Other financing items, net     0.0 (0.1)    
Net cash flows from financing activities     (57.7) (132.5)    
Net increase (decrease) in cash and cash equivalents     12.5 (36.3)    
Cash and cash equivalents, beginning of period     14.5 147.9    
Cash and equivalents, end of period 27.0 111.6 14.5 147.9 14.5 147.9
Guarantor Subsidiaries [Member]            
Condensed Consolidated Statements of Comprehensive Income (Loss) [Abstract]            
Net sales 84.4 74.1 161.5 146.4    
Cost of products sold (exclusive of item shown separately below) 57.4 53.2 112.0 99.7    
Selling and administrative expenses 3.8 3.2 7.4 6.4    
Depreciation 2.0 2.1 4.0 4.1    
Total operating costs 63.2 58.5 123.4 110.2    
Operating profit (loss) 21.2 15.6 38.1 36.2    
Interest expense 0.0 0.0 0.0 0.0    
Pension and OPEB (income) expense 0.0 0.0 0.0 0.0    
Other (income) expense (4.0) (2.8) (7.5) (5.2)    
Income (loss) before income taxes 25.2 18.4 45.6 41.4    
Income tax expense (benefit) 6.3 7.0 11.4 15.8    
Equity in net income (loss) of subsidiaries 0.0 0.0 0.0 0.0    
Net income 18.9 11.4 34.2 25.6    
Less: Net income attributable to noncontrolling interests 0.0 0.0 0.0 0.0    
Net income attributable to AK Steel Holding Corporation 18.9 11.4 34.2 25.6    
Other comprehensive income (loss) 0.0 0.0 0.0 0.0    
Comprehensive income attributable to AK Steel Holding Corporation 18.9 11.4 34.2 25.6    
Current assets:            
Cash and Cash Equivalents, at Carrying Value 5.1       7.2  
Accounts receivable, net 40.5       33.2  
Inventory 55.7       55.1  
Other current assets 0.2       0.2  
Total current assets 101.5       95.7  
Property, plant and equipment 183.5       181.5  
Accumulated depreciation (98.7)       (94.8)  
Property, plant and equipment, net 84.8       86.7  
Investment in subsidiaries 0.0       0.0  
Inter-company accounts 1,587.9       1,523.1  
Other non-current assets 32.9       33.0  
TOTAL ASSETS 1,807.1       1,738.5  
Current liabilities:            
Accounts payable 24.2       17.9  
Accrued liabilities 7.0       7.8  
Current portion of pension and other postretirement benefit obligations 0.0       0.0  
Total current liabilities 31.2       25.7  
Non-current liabilities:            
Long-term debt 0.0       0.0  
Pension and other postretirement benefit obligations 0.0       0.0  
Inter-company accounts 0.0       0.0  
Other non-current liabilities 0.0       1.0  
TOTAL LIABILITIES 31.2       26.7  
Equity [Abstract]            
Total stockholders' equity (deficit) 1,775.9       1,711.8  
Noncontrolling interests 0.0       0.0  
TOTAL EQUITY 1,775.9       1,711.8  
TOTAL LIABILITIES AND EQUITY 1,807.1       1,738.5  
Condensed Consolidated Statements of Cash Flows [Abstract]            
Net cash flows from operating activities     31.1 19.7    
Cash flows from investing activities:            
Capital investments     (2.1) (3.2)    
Other investing items, net     0.0 0.0    
Net cash flows from investing activities     (2.1) (3.2)    
Cash flows from financing activities:            
Net borrowings (payments) under credit facility     0.0      
Proceeds from issuance of long-term debt       0.0    
Redemption of long-term debt       0.0    
Debt issuance costs       0.0    
Inter-company activity     (31.1) (16.1)    
SunCoke Middletown distributions to noncontrolling interest owners     0.0 0.0    
Other financing items, net     0.0 0.0    
Net cash flows from financing activities     (31.1) (16.1)    
Net increase (decrease) in cash and cash equivalents     (2.1) 0.4    
Cash and cash equivalents, beginning of period     7.2 4.4    
Cash and equivalents, end of period 5.1 4.8 7.2 4.4 7.2 4.4
Other Non-Guarantor Subsidiaries [Member]            
Condensed Consolidated Statements of Comprehensive Income (Loss) [Abstract]            
Net sales 195.1 97.9 403.8 189.3    
Cost of products sold (exclusive of item shown separately below) 159.7 71.1 331.4 133.9    
Selling and administrative expenses 9.0 4.8 17.7 10.3    
Depreciation 9.5 6.1 19.0 12.0    
Total operating costs 178.2 82.0 368.1 156.2    
Operating profit (loss) 16.9 15.9 35.7 33.1    
Interest expense 1.4 0.3 2.6 0.7    
Pension and OPEB (income) expense 0.0 0.0 0.0 0.0    
Other (income) expense (0.8) (1.4) (2.4) (2.6)    
Income (loss) before income taxes 16.3 17.0 35.5 35.0    
Income tax expense (benefit) (0.4) 0.6 2.0 1.3    
Equity in net income (loss) of subsidiaries 0.2 (0.2) 0.2 (0.1)    
Net income 16.9 16.2 33.7 33.6    
Less: Net income attributable to noncontrolling interests 15.7 15.2 31.8 31.4    
Net income attributable to AK Steel Holding Corporation 1.2 1.0 1.9 2.2    
Other comprehensive income (loss) (2.2) 2.3 (1.1) 2.6    
Comprehensive income attributable to AK Steel Holding Corporation (1.0) 3.3 0.8 4.8    
Current assets:            
Cash and Cash Equivalents, at Carrying Value 13.9       16.3  
Accounts receivable, net 96.0       65.4  
Inventory 85.0       108.3  
Other current assets 7.7       5.4  
Total current assets 202.6       195.4  
Property, plant and equipment 653.2       646.3  
Accumulated depreciation (148.4)       (130.0)  
Property, plant and equipment, net 504.8       516.3  
Investment in subsidiaries 67.7       67.5  
Inter-company accounts 0.0       0.0  
Other non-current assets 317.1       318.2  
TOTAL ASSETS 1,092.2       1,097.4  
Current liabilities:            
Accounts payable 53.8       50.9  
Accrued liabilities 29.8       34.5  
Current portion of pension and other postretirement benefit obligations 0.3       0.4  
Total current liabilities 83.9       85.8  
Non-current liabilities:            
Long-term debt 0.0       0.0  
Pension and other postretirement benefit obligations 3.2       3.4  
Inter-company accounts 499.6       489.1  
Other non-current liabilities 27.9       34.7  
TOTAL LIABILITIES 614.6       613.0  
Equity [Abstract]            
Total stockholders' equity (deficit) 135.4       139.2  
Noncontrolling interests 342.2       345.2  
TOTAL EQUITY 477.6       484.4  
TOTAL LIABILITIES AND EQUITY 1,092.2       1,097.4  
Condensed Consolidated Statements of Cash Flows [Abstract]            
Net cash flows from operating activities     38.1 43.4    
Cash flows from investing activities:            
Capital investments     (10.1) (1.0)    
Other investing items, net     1.3 (0.1)    
Net cash flows from investing activities     (8.8) (1.1)    
Cash flows from financing activities:            
Net borrowings (payments) under credit facility     0.0      
Proceeds from issuance of long-term debt       0.0    
Redemption of long-term debt       0.0    
Debt issuance costs       0.0    
Inter-company activity     3.1 (1.4)    
SunCoke Middletown distributions to noncontrolling interest owners     (34.8) (41.9)    
Other financing items, net     0.0 0.0    
Net cash flows from financing activities     (31.7) (43.3)    
Net increase (decrease) in cash and cash equivalents     (2.4) (1.0)    
Cash and cash equivalents, beginning of period     16.3 20.9    
Cash and equivalents, end of period 13.9 19.9 16.3 20.9 16.3 20.9
Consolidation, Eliminations [Member]            
Condensed Consolidated Statements of Comprehensive Income (Loss) [Abstract]            
Net sales (132.2) (113.2) (262.1) (217.1)    
Cost of products sold (exclusive of item shown separately below) (117.8) (102.3) (233.8) (192.7)    
Selling and administrative expenses (12.8) (11.7) (24.6) (22.9)    
Depreciation 0.0 0.0 0.0 0.0    
Total operating costs (130.6) (114.0) (258.4) (215.6)    
Operating profit (loss) (1.6) 0.8 (3.7) (1.5)    
Interest expense 0.0 0.0 0.0 0.0    
Pension and OPEB (income) expense 0.0 0.0 0.0 0.0    
Other (income) expense 0.0 0.0 0.0 0.0    
Income (loss) before income taxes (1.6) 0.8 (3.7) (1.5)    
Income tax expense (benefit) (0.4) 0.3 (0.9) (0.6)    
Equity in net income (loss) of subsidiaries (76.3) (91.1) (120.7) (190.9)    
Net income (77.5) (90.6) (123.5) (191.8)    
Less: Net income attributable to noncontrolling interests 0.0 0.0 0.0 0.0    
Net income attributable to AK Steel Holding Corporation (77.5) (90.6) (123.5) (191.8)    
Other comprehensive income (loss) 12.9 16.8 18.5 36.6    
Comprehensive income attributable to AK Steel Holding Corporation (64.6) (73.8) (105.0) (155.2)    
Current assets:            
Cash and Cash Equivalents, at Carrying Value 0.0       0.0  
Accounts receivable, net (10.3)       (13.2)  
Inventory (13.7)       (9.9)  
Other current assets 0.0       0.0  
Total current assets (24.0)       (23.1)  
Property, plant and equipment 0.0       0.0  
Accumulated depreciation 0.0       0.0  
Property, plant and equipment, net 0.0       0.0  
Investment in subsidiaries 1,152.0       1,215.0  
Inter-company accounts (4,738.8)       (4,605.9)  
Other non-current assets 0.0       0.0  
TOTAL ASSETS (3,610.8)       (3,414.0)  
Current liabilities:            
Accounts payable (3.1)       (1.7)  
Accrued liabilities 0.0       0.0  
Current portion of pension and other postretirement benefit obligations 0.0       0.0  
Total current liabilities (3.1)       (1.7)  
Non-current liabilities:            
Long-term debt 0.0       0.0  
Pension and other postretirement benefit obligations 0.0       0.0  
Inter-company accounts (4,818.7)       (4,688.7)  
Other non-current liabilities 0.0       0.0  
TOTAL LIABILITIES (4,821.8)       (4,690.4)  
Equity [Abstract]            
Total stockholders' equity (deficit) 1,211.0       1,276.4  
Noncontrolling interests 0.0       0.0  
TOTAL EQUITY 1,211.0       1,276.4  
TOTAL LIABILITIES AND EQUITY (3,610.8)       (3,414.0)  
Condensed Consolidated Statements of Cash Flows [Abstract]            
Net cash flows from operating activities     (3.3) 0.8    
Cash flows from investing activities:            
Capital investments     0.0 0.0    
Other investing items, net     0.0 0.0    
Net cash flows from investing activities     0.0 0.0    
Cash flows from financing activities:            
Net borrowings (payments) under credit facility     0.0      
Proceeds from issuance of long-term debt       0.0    
Redemption of long-term debt       0.0    
Debt issuance costs       0.0    
Inter-company activity     3.3 (0.8)    
SunCoke Middletown distributions to noncontrolling interest owners     0.0 0.0    
Other financing items, net     0.0 0.0    
Net cash flows from financing activities     3.3 (0.8)    
Net increase (decrease) in cash and cash equivalents     0.0 0.0    
Cash and cash equivalents, beginning of period     0.0 0.0    
Cash and equivalents, end of period $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0