Supplementary Guarantor Information (Tables)

9 Months Ended

Sep. 30, 2019

Supplemental Guarantor Information [Abstract]

Schedule of Condensed Comprehensive Income (Loss)

Condensed Consolidated Statements of Comprehensive Income (Loss)
Three Months Ended September 30, 2019
	AK Holding			AK Steel			Guarantor Subsidiaries of the Senior Notes			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net sales	$	—		$	1,396.0		$	76.1		$	186.3		$	(122.9	)	$	1,535.5
Cost of products sold (exclusive of items shown separately below)	—			1,276.5			52.1			147.1			(109.7		)	1,366.0
Selling and administrative expenses	0.6			68.5			3.6			9.7			(11.4		)	71.0
Depreciation	—			36.4			2.1			8.9			—			47.4
Total operating costs	0.6			1,381.4			57.8			165.7			(121.1		)	1,484.4
Operating profit (loss)	(0.6		)	14.6			18.3			20.6			(1.8		)	51.1
Interest expense	—			35.0			—			2.0			—			37.0
Pension and OPEB (income) expense	—			(6.8		)	—			—			—			(6.8		)
Other (income) expense	—			5.8			(4.6		)	(0.4		)	(0.1		)	0.7
Income (loss) before income taxes	(0.6		)	(19.4		)	22.9			19.0			(1.7		)	20.2
Income tax expense (benefit)	—			(6.2		)	5.7			1.2			(0.4		)	0.3
Equity in net income (loss) of subsidiaries	3.4			16.6			—			0.2			(20.2		)	—
Net income (loss)	2.8			3.4			17.2			18.0			(21.5		)	19.9
Less: Net income attributable to noncontrolling interests	—			—			—			17.1			—			17.1
Net income (loss) attributable to AK Steel Holding Corporation	2.8			3.4			17.2			0.9			(21.5		)	2.8
Other comprehensive income (loss)	(5.4		)	(5.4		)	—			(1.4		)	6.8			(5.4		)
Comprehensive income (loss) attributable to AK Steel Holding Corporation	$	(2.6	)	$	(2.0	)	$	17.2		$	(0.5	)	$	(14.7	)	$	(2.6	)

Condensed Consolidated Statements of Comprehensive Income (Loss)
Three Months Ended September 30, 2018
	AK Holding			AK Steel			Guarantor Subsidiaries of the Senior Notes			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net sales	$	—		$	1,602.0		$	81.0		$	179.0		$	(126.4	)	$	1,735.6
Cost of products sold (exclusive of item shown separately below)	—			1,401.3			54.8			145.7			(115.6		)	1,486.2
Selling and administrative expenses	0.7			79.6			3.6			8.8			(13.1		)	79.6
Depreciation	—			43.8			2.0			9.2			—			55.0
Total operating costs	0.7			1,524.7			60.4			163.7			(128.7		)	1,620.8
Operating profit (loss)	(0.7		)	77.3			20.6			15.3			2.3			114.8
Interest expense	—			36.4			—			1.4			—			37.8
Pension and OPEB (income) expense	—			(10.0		)	—			—			—			(10.0		)
Other (income) expense	—			0.6			(4.3		)	(0.4		)	4.8			0.7
Income (loss) before income taxes	(0.7		)	50.3			24.9			14.3			(2.5		)	86.3
Income tax expense (benefit)	—			(3.9		)	6.2			(0.3		)	(0.6		)	1.4
Equity in net income (loss) of subsidiaries	67.9			13.7			—			0.5			(82.1		)	—
Net income (loss)	67.2			67.9			18.7			15.1			(84.0		)	84.9
Less: Net income attributable to noncontrolling interests	—			—			—			17.7			—			17.7
Net income (loss) attributable to AK Steel Holding Corporation	67.2			67.9			18.7			(2.6		)	(84.0		)	67.2
Other comprehensive income (loss)	(0.9		)	(0.9		)	—			(0.3		)	1.2			(0.9		)
Comprehensive income (loss) attributable to AK Steel Holding Corporation	$	66.3		$	67.0		$	18.7		$	(2.9	)	$	(82.8	)	$	66.3

Condensed Consolidated Statements of Comprehensive Income (Loss)
Nine Months Ended September 30, 2019
	AK Holding			AK Steel			Guarantor Subsidiaries of the Senior Notes			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net sales	$	—		$	4,491.9		$	239.9		$	557.0		$	(375.1	)	$	4,913.7
Cost of products sold (exclusive of item shown separately below)	—			4,001.7			168.3			446.4			(336.0		)	4,280.4
Selling and administrative expenses	3.4			215.2			10.8			29.1			(35.6		)	222.9
Depreciation	—			108.2			6.4			32.8			—			147.4
Ashland Works closure	—			64.1			—			—			—			64.1
Total operating costs	3.4			4,389.2			185.5			508.3			(371.6		)	4,714.8
Operating profit (loss)	(3.4		)	102.7			54.4			48.7			(3.5		)	198.9
Interest expense	—			106.7			—			5.3			—			112.0
Pension and OPEB expense (income)	—			(7.2		)										(7.2		)
Other (income) expense	—			0.9			(19.2		)	(2.2		)	4.0			(16.5		)
Income (loss) before income taxes	(3.4		)	2.3			73.6			45.6			(7.5		)	110.6
Income tax expense (benefit)	—			(16.9		)	18.4			3.1			(1.9		)	2.7
Equity in net income (loss) of subsidiaries	68.5			49.3			—			3.0			(120.8		)	—
Net income (loss)	65.1			68.5			55.2			45.5			(126.4		)	107.9
Less: Net income attributable to noncontrolling interests	—			—			—			42.8			—			42.8
Net income (loss) attributable to AK Steel Holding Corporation	65.1			68.5			55.2			2.7			(126.4		)	65.1
Other comprehensive income (loss)	(37.3		)	(37.3		)	—			(1.7		)	39.0			(37.3		)
Comprehensive income (loss) attributable to AK Steel Holding Corporation	$	27.8		$	31.2		$	55.2		$	1.0		$	(87.4	)	$	27.8

Condensed Consolidated Statements of Comprehensive Income (Loss)
Nine Months Ended September 30, 2018
	AK Holding			AK Steel			Guarantor Subsidiaries of the Senior Notes			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net sales	$	—		$	4,704.3		$	242.5		$	582.8		$	(388.5	)	$	5,141.1
Cost of products sold (exclusive of item shown separately below)	—			4,168.1			166.8			477.1			(349.4		)	4,462.6
Selling and administrative expenses	2.8			233.2			11.0			26.5			(37.7		)	235.8
Depreciation	—			130.6			6.0			28.2			—			164.8
Total operating costs	2.8			4,531.9			183.8			531.8			(387.1		)	4,863.2
Operating profit (loss)	(2.8		)	172.4			58.7			51.0			(1.4		)	277.9
Interest expense	—			109.3			—			4.0			—			113.3
Pension and OPEB expense (income)	—			(30.0		)	—			—			—			(30.0		)
Other (income) expense	—			6.4			(11.8		)	(2.8		)	4.8			(3.4		)
Income (loss) before income taxes	(2.8		)	86.7			70.5			49.8			(6.2		)	198.0
Income tax expense (benefit)	—			(21.8		)	17.6			1.7			(1.5		)	(4.0		)
Equity in net income (loss) of subsidiaries	155.3			46.8			—			0.7			(202.8		)	—
Net income (loss)	152.5			155.3			52.9			48.8			(207.5		)	202.0
Less: Net income attributable to noncontrolling interests	—			—			—			49.5			—			49.5
Net income (loss) attributable to AK Steel Holding Corporation	152.5			155.3			52.9			(0.7		)	(207.5		)	152.5
Other comprehensive income (loss)	(18.3		)	(18.3		)	—			(1.4		)	19.7			(18.3		)
Comprehensive income (loss) attributable to AK Steel Holding Corporation	$	134.2		$	137.0		$	52.9		$	(2.1	)	$	(187.8	)	$	134.2

Schedule of Condensed Balance Sheet

Condensed Consolidated Balance Sheets
September 30, 2019
	AK Holding			AK Steel			Guarantor Subsidiaries of the Senior Notes			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	14.7		$	0.1		$	16.0		$	—		$	30.8
Accounts receivable, net	—			493.5			35.7			102.4			(7.2		)	624.4
Inventory	—			1,234.7			59.4			81.3			(12.7		)	1,362.7
Other current assets	—			38.7			0.2			9.4			—			48.3
Total current assets	—			1,781.6			95.4			209.1			(19.9		)	2,066.2
Property, plant and equipment	—			6,193.0			196.4			704.6			—			7,094.0
Accumulated depreciation	—			(4,893.2		)	(109.2		)	(199.4		)	—			(5,201.8		)
Property, plant and equipment, net	—			1,299.8			87.2			505.2			—			1,892.2
Investment in subsidiaries	(3,054.3		)	2,003.3			—			71.2			979.8			—
Inter-company accounts	3,188.9			—			1,709.9			—			(4,898.8		)	—
Operating lease assets	—			206.0			2.8			44.6			—			253.4
Other non-current assets	—			51.1			33.3			308.4			—			392.8
TOTAL ASSETS	$	134.6		$	5,341.8		$	1,928.6		$	1,138.5		$	(3,938.9	)	$	4,604.6
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	—		$	591.9		$	27.4		$	60.7		$	(4.0	)	$	676.0
Accrued liabilities	—			207.4			7.7			19.6			—			234.7
Current portion of operating lease liabilities	—			49.1			1.0			3.5			—			53.6
Current portion of pension and other postretirement benefit obligations	—			37.0			—			0.3			—			37.3
Total current liabilities	—			885.4			36.1			84.1			(4.0		)	1,001.6
Non-current liabilities:
Long-term debt	—			1,969.7			—			—			—			1,969.7
Long-term operating lease liabilities	—			174.9			1.7			42.5			—			219.1
Pension and other postretirement benefit obligations	—			782.4			—			2.6			—			785.0
Inter-company accounts	—			4,443.5			—			529.9			(4,973.4		)	—
Other non-current liabilities	—			140.2			0.6			29.7			—			170.5
TOTAL LIABILITIES	—			8,396.1			38.4			688.8			(4,977.4		)	4,145.9
Equity:
Total stockholders’ equity (deficit)	134.6			(3,054.3		)	1,890.2			125.6			1,038.5			134.6
Noncontrolling interests	—			—			—			324.1			—			324.1
TOTAL EQUITY	134.6			(3,054.3		)	1,890.2			449.7			1,038.5			458.7
TOTAL LIABILITIES AND EQUITY	$	134.6		$	5,341.8		$	1,928.6		$	1,138.5		$	(3,938.9	)	$	4,604.6

Condensed Consolidated Balance Sheets
December 31, 2018
	AK Holding			AK Steel			Guarantor Subsidiaries of the Senior Notes			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	22.1		$	8.2		$	18.3		$	—		$	48.6
Accounts receivable, net	—			515.4			34.0			95.3			(8.9		)	635.8
Inventory	—			1,299.6			53.9			75.6			(9.2		)	1,419.9
Other current assets	—			85.5			0.1			11.4			—			97.0
Total current assets	—			1,922.6			96.2			200.6			(18.1		)	2,201.3
Property, plant and equipment	—			6,111.1			189.7			668.4			—			6,969.2
Accumulated depreciation	—			(4,785.5		)	(102.8		)	(169.3		)	—			(5,057.6		)
Property, plant and equipment, net	—			1,325.6			86.9			499.1			—			1,911.6
Investment in subsidiaries	(3,017.4		)	1,931.1			—			68.2			1,018.1			—
Inter-company accounts	3,117.3			—			1,630.7			—			(4,748.0		)	—
Other non-current assets	—			54.3			32.9			315.6			—			402.8
TOTAL ASSETS	$	99.9		$	5,233.6		$	1,846.7		$	1,083.5		$	(3,748.0	)	$	4,515.7
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	—		$	722.5		$	26.2		$	55.5		$	(3.2	)	$	801.0
Accrued liabilities	—			251.5			8.7			28.7			—			288.9
Current portion of pension and other postretirement benefit obligations	—			38.4			—			0.3			—			38.7
Total current liabilities	—			1,012.4			34.9			84.5			(3.2		)	1,128.6
Non-current liabilities:
Long-term debt	—			1,993.7			—			—			—			1,993.7
Pension and other postretirement benefit obligations	—			827.0			—			2.9			—			829.9
Inter-company accounts	—			4,312.3			—			511.2			(4,823.5		)	—
Other non-current liabilities	—			105.6			0.2			28.2			—			134.0
TOTAL LIABILITIES	—			8,251.0			35.1			626.8			(4,826.7		)	4,086.2
Equity:
Total stockholders’ equity (deficit)	99.9			(3,017.4		)	1,811.6			127.1			1,078.7			99.9
Noncontrolling interests	—			—			—			329.6			—			329.6
TOTAL EQUITY	99.9			(3,017.4		)	1,811.6			456.7			1,078.7			429.5
TOTAL LIABILITIES AND EQUITY	$	99.9		$	5,233.6		$	1,846.7		$	1,083.5		$	(3,748.0	)	$	4,515.7

Schedule of Condensed Cash Flow Statement

Condensed Consolidated Statements of Cash Flows
Nine Months Ended September 30, 2019
	AK Holding			AK Steel			Guarantor Subsidiaries of the Senior Notes			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net cash flows from operating activities	$	(2.5	)	$	77.6		$	49.2		$	72.8		$	(4.6	)	$	192.5
Cash flows from investing activities:
Capital investments	—			(97.8		)	(1.5		)	(36.5		)	—			(135.8		)
Other investing items, net	—			9.7			—			0.3			—			10.0
Net cash flows from investing activities	—			(88.1		)	(1.5		)	(36.2		)	—			(125.8		)
Cash flows from financing activities:
Net borrowings (payments) under credit facility	—			(30.0		)	—			—			—			(30.0		)
Redemption of long-term debt	—			(3.8		)	—			—			—			(3.8		)
Inter-company activity	2.5			39.3			(55.8		)	9.4			4.6			—
SunCoke Middletown distributions to noncontrolling interest owners	—			—			—			(48.3		)	—			(48.3		)
Other financing items, net	—			(2.4		)	—			—			—			(2.4		)
Net cash flows from financing activities	2.5			3.1			(55.8		)	(38.9		)	4.6			(84.5		)
Net increase (decrease) in cash and cash equivalents	—			(7.4		)	(8.1		)	(2.3		)	—			(17.8		)
Cash and cash equivalents, beginning of period	—			22.1			8.2			18.3			—			48.6
Cash and cash equivalents, end of period	$	—		$	14.7		$	0.1		$	16.0		$	—		$	30.8

Condensed Consolidated Statements of Cash Flows
Nine Months Ended September 30, 2018
	AK Holding			AK Steel			Guarantor Subsidiaries of the Senior Notes			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Company
Net cash flows from operating activities	$	(2.1	)	$	133.1		$	47.6		$	65.3		$	6.0		$	249.9
Cash flows from investing activities:
Capital investments	—			(82.6		)	(3.7		)	(14.8		)	—			(101.1		)
Other investing items, net	—			0.7			—			(0.5		)	—			0.2
Net cash flows from investing activities	—			(81.9		)	(3.7		)	(15.3		)	—			(100.9		)
Cash flows from financing activities:
Net borrowings (payments) under credit facility	—			(85.0		)	—			—			—			(85.0		)
Inter-company activity	2.4			44.9			(48.9		)	7.6			(6.0		)	—
SunCoke Middletown distributions to noncontrolling interest owners	—			—			—			(54.0		)	—			(54.0		)
Other financing items, net	(0.3		)	(0.4		)	—			—			—			(0.7		)
Net cash flows from financing activities	2.1			(40.5		)	(48.9		)	(46.4		)	(6.0		)	(139.7		)
Net increase (decrease) in cash and cash equivalents	—			10.7			(5.0		)	3.6			—			9.3
Cash and cash equivalents, beginning of period	—			14.5			7.2			16.3			—			38.0
Cash and cash equivalents, end of period	$	—		$	25.2		$	2.2		$	19.9		$	—		$	47.3