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Business Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Adjusted EBITDA Reportable Segments and Depreciation and Amortization Expense and Capital Expenditures and Segment Assets | The following tables include Adjusted EBITDA reportable segments, as defined above, 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 June 30, 2025
|  | (Dollars in millions)
|  | Domestic Coke |  | Brazil Coke |  | Logistics |  | Total
Sales and other operating revenue |  | $ | 410.4 |  |  | $ | 8.6 |  |  | $ | 15.1 |  |  | $ | 434.1 |
Intersegment revenues |  | — |  |  | — |  |  | 5.9 |  |  | 5.9 |
Net revenues |  | 410.4 |  |  | 8.6 |  |  | 21.0 |  |  | 440.0 |
Reconciliation of revenue |  |  |  |  |  |  |  |
Elimination of intersegment revenues |  |  |  |  |  |  |  | (5.9) |
Total consolidated revenues |  |  |  |  |  |  |  | 434.1 |
Less:(1) |  |  |  |  |  |  |  |
Operating and maintenance expense |  | 71.2 |  |  | 5.3 |  |  | 13.0 |  |  |
Cost of products sold and other expenses(2) |  | 291.5 |  |  | — |  |  | — |  |  |
Selling, general and administrative expenses |  | 7.2 |  |  | 0.7 |  |  | 0.3 |  |  |
Adjusted EBITDA reportable segments |  | 40.5 |  |  | 2.6 |  |  | 7.7 |  |  | 50.8 |
Depreciation and amortization expense |  |  |  |  |  |  |  | 28.6 |
Interest expense, net(3) |  |  |  |  |  |  |  | 5.4 |
Other corporate expenses(4) |  |  |  |  |  |  |  | 12.4 |
Income before income tax expense |  |  |  |  |  |  |  | $ | 4.4 |
(1)The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM. (2)Cost of products sold and other expenses includes coal and transportation costs. (3)Interest expense, net of $5.4 million reflects (i) consolidated interest expense of $7.0 million and (ii) consolidated interest income of $1.6 million. (4)Other corporate expenses represents business expenses not allocated to the Company’s reportable segments and are included in Corporate, which is not a reportable segment.
|  | Three Months Ended June 30, 2024
|  | (Dollars in millions)
|  | Domestic Coke |  | Brazil Coke |  | Logistics |  | Total
Sales and other operating revenue |  | $ | 441.6 |  |  | $ | 9.1 |  |  | $ | 20.2 |  |  | $ | 470.9 |
Intersegment revenues |  | — |  |  | — |  |  | 5.9 |  |  | 5.9 |
Net revenues |  | 441.6 |  |  | 9.1 |  |  | 26.1 |  |  | 476.8 |
Reconciliation of revenue |  |  |  |  |  |  |  |
Elimination of intersegment revenues |  |  |  |  |  |  |  | (5.9) |
Total consolidated revenues |  |  |  |  |  |  |  | 470.9 |
Less:(1) |  |  |  |  |  |  |  |
Operating and maintenance expense |  | 78.8 |  |  | 5.6 |  |  | 13.5 |  |  |
Cost of products sold and other expenses(2) |  | 297.4 |  |  | — |  |  | — |  |  |
Selling, general and administrative expenses |  | 7.5 |  |  | 1.0 |  |  | 0.4 |  |  |
Adjusted EBITDA reportable segments |  | 57.9 |  |  | 2.5 |  |  | 12.2 |  |  | 72.6 |
Depreciation and amortization expense |  |  |  |  |  |  |  | 28.7 |
Interest expense, net(3) |  |  |  |  |  |  |  | 5.8 |
Other corporate expenses(4) |  |  |  |  |  |  |  | 9.2 |
Income before income tax expense |  |  |  |  |  |  |  | $ | 28.9 |
(1)The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM. (2)Cost of products sold and other expenses includes coal and transportation costs. (3)Interest expense, net of $5.8 million reflects (i) consolidated interest expense of $7.2 million and (ii) consolidated interest income of $1.4 million. (4)Other corporate expenses represents business expenses not allocated to the Company’s reportable segments and are included in Corporate, which is not a reportable segment.
|  | Six Months Ended June 30, 2025
|  | (Dollars in millions)
|  | Domestic Coke |  | Brazil Coke |  | Logistics |  | Total
Sales and other operating revenue |  | $ | 816.2 |  |  | $ | 16.4 |  |  | $ | 37.5 |  |  | $ | 870.1 |
Intersegment revenues |  | — |  |  | — |  |  | 11.5 |  |  | 11.5 |
Net revenues |  | 816.2 |  |  | 16.4 |  |  | 49.0 |  |  | 881.6 |
Reconciliation of revenue |  |  |  |  |  |  |  |
Elimination of intersegment revenues |  |  |  |  |  |  |  | (11.5) |
Total consolidated revenues |  |  |  |  |  |  |  | 870.1 |
Less:(1) |  |  |  |  |  |  |  |
Operating and maintenance expense |  | 142.3 |  |  | 10.1 |  |  | 27.0 |  |  |
Cost of products sold and other expenses(2) |  | 569.5 |  |  | — |  |  | — |  |  |
Selling, general and administrative expenses |  | 14.0 |  |  | 1.4 |  |  | 0.6 |  |  |
Adjusted EBITDA reportable segments |  | 90.4 |  |  | 4.9 |  |  | 21.4 |  |  | 116.7 |
Depreciation and amortization expense |  |  |  |  |  |  |  | 57.4 |
Interest expense, net(3) |  |  |  |  |  |  |  | 10.6 |
Other corporate expenses(4) |  |  |  |  |  |  |  | 19.3 |
Income before income tax expense |  |  |  |  |  |  |  | $ | 29.4 |
(1)The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM. (2)Cost of products sold and other expenses includes coal and transportation costs. (3)Interest expense, net of $10.6 million reflects (i) consolidated interest expense of $13.8 million and (ii) consolidated interest income of $3.2 million. (4)Other corporate expenses represents business expenses not allocated to the Company’s reportable segments and are included in Corporate, which is not a reportable segment.
|  | Six Months Ended June 30, 2024
|  | (Dollars in millions)
|  | Domestic Coke |  | Brazil Coke |  | Logistics |  | Total
Sales and other operating revenue |  | $ | 901.1 |  |  | $ | 17.4 |  |  | $ | 40.8 |  |  | $ | 959.3 |
Intersegment revenues |  | — |  |  | — |  |  | 11.8 |  |  | 11.8 |
Net revenues |  | 901.1 |  |  | 17.4 |  |  | 52.6 |  |  | 971.1 |
Reconciliation of revenue |  |  |  |  |  |  |  |
Elimination of intersegment revenues |  |  |  |  |  |  |  | (11.8) |
Total consolidated revenues |  |  |  |  |  |  |  | 959.3 |
Less:(1) |  |  |  |  |  |  |  |
Operating and maintenance expense |  | 150.3 |  |  | 10.7 |  |  | 26.6 |  |  |
Cost of products sold and other expenses(2) |  | 616.1 |  |  | — |  |  | — |  |  |
Selling, general and administrative expenses |  | 15.4 |  |  | 1.8 |  |  | 0.8 |  |  |
Adjusted EBITDA reportable segments |  | 119.3 |  |  | 4.9 |  |  | 25.2 |  |  | 149.4 |
Depreciation and amortization expense |  |  |  |  |  |  |  | 62.0 |
Interest expense, net(3) |  |  |  |  |  |  |  | 12.1 |
Other corporate expenses(4) |  |  |  |  |  |  |  | 18.2 |
Income before income tax expense |  |  |  |  |  |  |  | $ | 57.1 |
(1)The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM. (2)Cost of products sold and other expenses includes coal and transportation costs. (3)Interest expense, net of $12.1 million reflects (i) consolidated interest expense of $14.4 million and (ii) consolidated interest income of $2.3 million. (4)Other corporate expenses represents business expenses not allocated to the Company’s reportable segments and are included in Corporate, which is not a reportable segment. The following table sets forth the Company’s depreciation and amortization expense as well as its capital expenditures:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
|  | (Dollars in millions)
Depreciation and amortization expense: |  |  |  |  |  |  |  |
Domestic Coke |  | $ | 24.9 |  |  | $ | 25.4 |  |  | $ | 50.0 |  |  | $ | 55.3 |
Logistics |  | 3.2 |  |  | 3.1 |  |  | 6.3 |  |  | 6.3 |
Brazil Coke |  | — |  |  | — |  |  | 0.1 |  |  | 0.1 |
Total reportable segments |  | $ | 28.1 |  |  | $ | 28.5 |  |  | $ | 56.4 |  |  | $ | 61.7 |
Corporate and Other |  | 0.5 |  |  | 0.2 |  |  | 1.0 |  |  | 0.3 |
Total depreciation and amortization expense |  | $ | 28.6 |  |  | $ | 28.7 |  |  | $ | 57.4 |  |  | $ | 62.0 |
Capital expenditures: |  |  |  |  |  |  |  |
Domestic Coke |  | $ | 4.5 |  |  | $ | 16.5 |  |  | $ | 6.6 |  |  | $ | 31.0 |
Logistics |  | 8.0 |  |  | 1.0 |  |  | 10.7 |  |  | 1.6 |
Brazil Coke |  | — |  |  | — |  |  | 0.1 |  |  | — |
Total reportable segments |  | $ | 12.5 |  |  | $ | 17.5 |  |  | $ | 17.4 |  |  | $ | 32.6 |
Corporate and Other |  | 0.1 |  |  | — |  |  | 0.1 |  |  | 0.4 |
Total capital expenditures |  | $ | 12.6 |  |  | $ | 17.5 |  |  | $ | 17.5 |  |  | $ | 33.0 |
The following table sets forth the Company's segment assets:
|  | June 30, 2025 |  | December 31, 2024
|  | (Dollars in millions)
Segment assets: |  |  |  |
Domestic Coke |  | $ | 1,306.8 |  |  | $ | 1,351.1 |
Logistics |  | 160.4 |  |  | 158.2 |
Brazil Coke |  | 12.9 |  |  | 10.2 |
Total reportable segments |  | $ | 1,480.1 |  |  | $ | 1,519.5 |
Corporate and Other |  | 161.3 |  |  | 148.7 |
Total assets |  | $ | 1,641.4 |  |  | $ | 1,668.2 |

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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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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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