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Business Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Schedule of Business Segment Information | The following table includes Adjusted EBITDA reportable segments, as defined below, which is a measure of segment profit or loss reported to the chief operating decision maker for purposes of allocating resources to the segments and assessing their performance:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
|  | (Dollars in millions)
Sales and other operating revenue: |  |  |  |  |  |  |  |
Domestic Coke |  | $ | 495.7 |  |  | $ | 487.7 |  |  | $ | 1,460.4 |  |  | $ | 1,371.8 |
Brazil Coke |  | 9.1 |  |  | 8.9 |  |  | 25.8 |  |  | 27.9 |
Logistics |  | 15.6 |  |  | 20.2 |  |  | 56.4 |  |  | 58.8 |
Logistics intersegment sales |  | 5.6 |  |  | 7.4 |  |  | 16.9 |  |  | 22.2 |
Elimination of intersegment sales |  | (5.6) |  |  | (7.4) |  |  | (16.9) |  |  | (22.2) |
Total sales and other operating revenues |  | $ | 520.4 |  |  | $ | 516.8 |  |  | $ | 1,542.6 |  |  | $ | 1,458.5 |
Adjusted EBITDA reportable segments: |  |  |  |  |  |  |  |
Domestic Coke |  | $ | 64.0 |  |  | $ | 76.6 |  |  | $ | 192.6 |  |  | $ | 216.9 |
Brazil Coke |  | 2.2 |  |  | 3.3 |  |  | 6.9 |  |  | 11.4 |
Logistics |  | 8.4 |  |  | 12.9 |  |  | 33.6 |  |  | 38.0 |
Total Adjusted EBITDA reportable segments |  | $ | 74.6 |  |  | $ | 92.8 |  |  | $ | 233.1 |  |  | $ | 266.3 |
Depreciation and amortization expense: |  |  |  |  |  |  |  |
Domestic Coke |  | $ | 32.1 |  |  | $ | 31.7 |  |  | $ | 97.1 |  |  | $ | 94.9 |
Brazil Coke |  | 0.1 |  |  | — |  |  | 0.2 |  |  | 0.1 |
Logistics |  | 3.2 |  |  | 3.7 |  |  | 9.7 |  |  | 10.9 |
Total reportable segments |  | $ | 35.4 |  |  | $ | 35.4 |  |  | $ | 107.0 |  |  | $ | 105.9 |
Corporate and Other |  | 0.1 |  |  | 0.3 |  |  | 0.2 |  |  | 0.8 |
Total depreciation and amortization expense |  | $ | 35.5 |  |  | $ | 35.7 |  |  | $ | 107.2 |  |  | $ | 106.7 |
Capital expenditures: |  |  |  |  |  |  |  |
Domestic Coke |  | $ | 32.6 |  |  | $ | 20.6 |  |  | $ | 80.8 |  |  | $ | 51.8 |
Brazil Coke |  | — |  |  | — |  |  | 0.2 |  |  | 0.1 |
Logistics |  | 1.4 |  |  | 0.5 |  |  | 3.3 |  |  | 3.2 |
Total reportable segments |  | $ | 34.0 |  |  | $ | 21.1 |  |  | $ | 84.3 |  |  | $ | 55.1 |
Corporate and Other |  | 0.1 |  |  | 0.6 |  |  | 0.2 |  |  | 0.6 |
Total capital expenditures |  | $ | 34.1 |  |  | $ | 21.7 |  |  | $ | 84.5 |  |  | $ | 55.7 |
The following table sets forth the Company's segment assets:
|  | September 30, 2023 |  | December 31, 2022
|  | (Dollars in millions)
Segment assets: |  |  |  |
Domestic Coke |  | $ | 1,443.0 |  |  | $ | 1,422.6 |
Brazil Coke |  | 10.6 |  |  | 15.7 |
Logistics(1) |  | 160.7 |  |  | 193.5 |
Total reportable segments |  | $ | 1,614.3 |  |  | $ | 1,631.8 |
Corporate and Other |  | 64.9 |  |  | 22.8 |
Total assets |  | $ | 1,679.2 |  |  | $ | 1,654.6 |
(1)Logistics segment assets included $21.7 million of DRT assets as of December 31, 2022, which are included in the Domestic Coke segment in 2023.
Schedule of Reconciliation of Adjusted EBITDA (Unaudited) to Net Income | Below is a reconciliation of Adjusted EBITDA reportable segments to net income, which is its most directly comparable financial measure calculated and presented in accordance with GAAP:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
|  | (Dollars in millions)
Net income |  | $ | 8.5 |  |  | $ | 42.5 |  |  | $ | 48.2 |  |  | $ | 92.1 |
Add: |  |  |  |  |  |  |  |
Depreciation and amortization expense |  | 35.5 |  |  | 35.7 |  |  | 107.2 |  |  | 106.7 |
Interest expense, net |  | 6.6 |  |  | 8.0 |  |  | 21.0 |  |  | 24.3 |
Income tax expense (benefit) |  | 14.6 |  |  | (2.9) |  |  | 29.7 |  |  | 14.3 |
Transaction costs(1) |  | 0.2 |  |  | 0.4 |  |  | 0.4 |  |  | 1.4 |
Corporate and Other expenses |  | 9.2 |  |  | 9.1 |  |  | 26.6 |  |  | 27.5 |
Adjusted EBITDA reportable segments |  | $ | 74.6 |  |  | $ | 92.8 |  |  | $ | 233.1 |  |  | $ | 266.3 |
(1)Costs incurred as part of the granulated pig iron project with U.S. Steel.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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