| Years Ended December 31, | |||||||||||||||||
| 2020 | 2019 | 2018 | |||||||||||||||
| (Unaudited) | |||||||||||||||||
| (Dollars and units in millions, except per unit amounts) | |||||||||||||||||
Revenues | |||||||||||||||||
Sales and other operating revenue | $ | 760.7 | $ | 953.3 | $ | 892.1 | |||||||||||
Costs and operating expenses | |||||||||||||||||
Cost of products sold and operating expenses | 586.2 | 726.4 | 648.9 | ||||||||||||||
Selling, general and administrative expenses | 31.4 | 36.3 | 33.6 | ||||||||||||||
Depreciation and amortization expense | 86.8 | 104.8 | 92.4 | ||||||||||||||
Long-lived asset and goodwill impairment | — | 247.4 | — | ||||||||||||||
Total costs and operating expenses | 704.4 | 1,114.9 | 774.9 | ||||||||||||||
| Operating income (loss) | 56.3 | (161.6) | 117.2 | ||||||||||||||
Interest expense, net | 50.0 | 56.2 | 59.4 | ||||||||||||||
| Gain on extinguishment of debt | (5.7) | (1.9) | — | ||||||||||||||
| Income (loss) before income tax expense (benefit) | 12.0 | (215.9) | 57.8 | ||||||||||||||
Income tax expense (benefit)(1) | 109.1 | (87.8) | (1.6) | ||||||||||||||
Net (loss) income | (97.1) | (128.1) | 59.4 | ||||||||||||||
Less: Net income attributable to noncontrolling interests | — | 3.3 | 1.9 | ||||||||||||||
Net (loss) income attributable to SunCoke Energy Partners Finance Corp./SunCoke Energy Partners, L.P.(1) | $ | (97.1) | $ | (131.4) | $ | 57.5 | |||||||||||
General partner's interest in net (loss) income | N/A | $ | (2.6) | $ | 1.2 | ||||||||||||
Limited partners' interest in net (loss) income | N/A | $ | (128.8) | $ | 56.3 | ||||||||||||
| Net (loss) income per common share/unit (basic and diluted) | $ | (2.10) | $ | (2.79) | $ | 1.22 | |||||||||||
| Weighted average common shares/units outstanding (basic and diluted) | 46.2 | 46.2 | 46.2 | ||||||||||||||
| December 31, | ||||||||||||||
| 2020 | 2019 | |||||||||||||
| (Unaudited) | ||||||||||||||
| (Dollars in millions) | ||||||||||||||
Assets | ||||||||||||||
Cash | $ | 25.5 | $ | 29.3 | ||||||||||
Receivables, net | 27.5 | 34.7 | ||||||||||||
| Receivables from affiliate, net | 11.9 | 1.3 | ||||||||||||
Inventories | 84.7 | 106.9 | ||||||||||||
Other current assets | 9.4 | 0.3 | ||||||||||||
Total current assets | 159.0 | 172.5 | ||||||||||||
| Properties, plants and equipment (net of accumulated depreciation of $643.8 million and $559.8 million at December 31, 2020 and 2019, respectively) | 1,099.9 | 1,152.3 | ||||||||||||
| Intangible assets, net | 32.2 | 34.2 | ||||||||||||
Deferred charges and other assets | 5.2 | 4.4 | ||||||||||||
Total assets | $ | 1,296.3 | $ | 1,363.4 | ||||||||||
Liabilities and Equity | ||||||||||||||
Accounts payable | $ | 51.9 | $ | 83.3 | ||||||||||
Accrued liabilities | 16.7 | 13.3 | ||||||||||||
Current portion of financing obligation | 1.1 | 2.9 | ||||||||||||
Interest payable | 2.0 | 2.2 | ||||||||||||
Total current liabilities | 71.7 | 101.7 | ||||||||||||
Long-term debt and financing obligation | 579.9 | 639.4 | ||||||||||||
Deferred income taxes | 146.9 | 26.3 | ||||||||||||
Other deferred credits and liabilities | 11.2 | 12.4 | ||||||||||||
Total liabilities | 809.7 | 779.8 | ||||||||||||
Equity | ||||||||||||||
| Common stock, $0.01 par value (issued 46,227,148 shares at December 31, 2020) | 0.5 | — | ||||||||||||
| Additional paid-in capital | 583.2 | — | ||||||||||||
| Retained deficit | (97.1) | — | ||||||||||||
| Total SunCoke Energy Partners Finance Corp. stockholders' equity | 486.6 | — | ||||||||||||
| Common units (46,227,148 units issued at December 31, 2019) | — | 518.2 | ||||||||||||
General partner's interest | — | 52.6 | ||||||||||||
Partners' capital attributable to SunCoke Energy Partners, L.P. | — | 570.8 | ||||||||||||
Noncontrolling interest | — | 12.8 | ||||||||||||
Total equity | 486.6 | 583.6 | ||||||||||||
Total liabilities and equity | 1,296.3 | 1,363.4 | ||||||||||||
| Years Ended December 31, | ||||||||||||||||||||
| 2020 | 2019 | 2018 | ||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||
| (Dollars in millions) | ||||||||||||||||||||
Cash Flows from Operating Activities: | ||||||||||||||||||||
Net (loss) income | $ | (97.1) | $ | (128.1) | $ | 59.4 | ||||||||||||||
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||||||||||||||||||||
Long-lived asset and goodwill impairment | — | 247.4 | — | |||||||||||||||||
Depreciation and amortization expense | 86.8 | 104.8 | 92.4 | |||||||||||||||||
| Deferred income tax expense (benefit) | 120.6 | (89.4) | (3.5) | |||||||||||||||||
| Gain on extinguishment of debt | (5.7) | (1.9) | — | |||||||||||||||||
Changes in working capital pertaining to operating activities: | ||||||||||||||||||||
Receivables, net | 7.2 | 14.1 | (6.6) | |||||||||||||||||
Receivables/payables from affiliate, net | (10.6) | 1.8 | 2.6 | |||||||||||||||||
Inventories | 23.2 | (27.9) | 0.4 | |||||||||||||||||
Accounts payable | (26.7) | 11.2 | 13.2 | |||||||||||||||||
Accrued liabilities | 3.3 | (3.7) | 0.4 | |||||||||||||||||
Interest payable | (0.2) | (1.0) | (0.8) | |||||||||||||||||
Other | (5.5) | 0.7 | 5.3 | |||||||||||||||||
Net cash provided by operating activities | 95.3 | 128.0 | 162.8 | |||||||||||||||||
Cash Flows from Investing Activities: | ||||||||||||||||||||
Capital expenditures | (40.7) | (61.2) | (60.8) | |||||||||||||||||
Other | 0.2 | 0.2 | 0.2 | |||||||||||||||||
Net cash used in investing activities | (40.5) | (61.0) | (60.6) | |||||||||||||||||
Cash Flows from Financing Activities: | ||||||||||||||||||||
| Repayment of financing obligation | (2.7) | (2.9) | (2.6) | |||||||||||||||||
Repayment of long-term debt | (55.9) | (46.6) | — | |||||||||||||||||
Proceeds from revolving credit facility | — | 204.5 | 179.5 | |||||||||||||||||
Repayment of revolving credit facility | — | (309.5) | (204.5) | |||||||||||||||||
Distributions to unitholders (public and parent) | — | (37.8) | (86.1) | |||||||||||||||||
Distributions to noncontrolling interest (SunCoke Energy, Inc.) | — | (2.2) | (2.5) | |||||||||||||||||
| Capital contributions from SunCoke Energy, Inc. | — | 145.0 | 20.0 | |||||||||||||||||
Other financing activities | — | (0.8) | — | |||||||||||||||||
Net cash used in financing activities | (58.6) | (50.3) | (96.2) | |||||||||||||||||
| Net (decrease) increase in cash and cash equivalents | (3.8) | 16.7 | 6.0 | |||||||||||||||||
| Cash and cash equivalents at beginning of year | 29.3 | 12.6 | 6.6 | |||||||||||||||||
Cash and cash equivalents at end of year | $ | 25.5 | $ | 29.3 | $ | 12.6 | ||||||||||||||
| Supplemental Disclosure of Cash Flow Information | ||||||||||||||||||||
| Interest paid, net of capitalized interest of zero, $2.3 million and $3.2 million respectively | $ | 48.0 | $ | 54.2 | $ | 56.9 | ||||||||||||||
| Income taxes paid, net of refunds of $2.7 million, zero and zero, respectively | $ | (2.3) | $ | 1.8 | $ | 2.9 | ||||||||||||||
| Years Ended December 31, | ||||||||||||||||||||
| 2020 | 2019 | 2018 | ||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||
| (Dollars in millions) | ||||||||||||||||||||
Net (loss) income attributable to SunCoke Energy Partners Finance Corp./SunCoke Energy Partners, L.P(1) | $ | (97.1) | $ | (131.4) | $ | 57.5 | ||||||||||||||
| Add: Net income attributable to noncontrolling interests | — | 3.3 | 1.9 | |||||||||||||||||
| Net (loss) income | $ | (97.1) | $ | (128.1) | $ | 59.4 | ||||||||||||||
Add: | ||||||||||||||||||||
| Long-lived asset and goodwill impairment | — | 247.4 | — | |||||||||||||||||
| Depreciation and amortization expense | 86.8 | 104.8 | 92.4 | |||||||||||||||||
| Interest expense, net | 50.0 | 56.2 | 59.4 | |||||||||||||||||
| Income tax expense (benefit) | 109.1 | (87.8) | (1.6) | |||||||||||||||||
| Gain on extinguishment of debt | (5.7) | (1.9) | — | |||||||||||||||||
Contingent consideration adjustments(2) | — | (4.2) | 2.5 | |||||||||||||||||
Simplification Transaction costs(3) | — | 4.9 | 0.4 | |||||||||||||||||
| Adjusted EBITDA | $ | 143.1 | $ | 191.3 | $ | 212.5 | ||||||||||||||
Subtract: Adjusted EBITDA attributable to noncontrolling interest(4) | — | 1.6 | 3.1 | |||||||||||||||||
Adjusted EBITDA attributable to SunCoke Energy Partners Finance Corp./SunCoke Energy Partners, L.P.(1) | $ | 143.1 | $ | 189.7 | $ | 209.4 | ||||||||||||||