Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 21, 2014 | Jun. 28, 2013 |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'SunCoke Energy Partners, L.P. | ' | ' |
Entity Central Index Key | '0001555538 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Common Stock, Common Unit Outstanding | ' | 15,713,153 | ' |
Entity Public Float | ' | ' | $296.80 |
Combined_and_Consolidated_Stat
Combined and Consolidated Statements of Income (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 |
Predecessor | Predecessor | Predecessor - Prior to Initial Public Offering | Common Units | Common Units | Common Units | Common Units | Common Units | Subordinated Units | Subordinated Units | Subordinated Units | Subordinated Units | Subordinated Units | |
Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | ||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales and other operating revenue | $740.20 | $449.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Costs and operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of products sold and operating expenses | 593.5 | 367.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative expenses | 22 | 25.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization expense | 33.2 | 18.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total costs and operating expenses | 648.7 | 411.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income | 91.5 | 38.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | 10.3 | 4.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income before income tax expense | 81.2 | 33.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax expense | 24.4 | 2.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 56.8 | 30.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less: Net income attributable to noncontrolling interests | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to SunCoke Energy Partners L.P. | 56.8 | 30.8 | 3.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common unitholders' interest in net income | ' | ' | ' | ' | ' | ' | ' | 28.5 | ' | ' | ' | ' | ' |
Subordinated unitholders' interest in net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $28.50 |
Weighted average units outstanding (basic and diluted) (in shares) | ' | ' | ' | ' | ' | ' | ' | 15.7 | ' | ' | ' | ' | 15.7 |
Net income per limited partner unit (basic and diluted) (in dollars per share) | ' | ' | ' | $0.53 | $0.43 | $0.49 | $0.37 | $1.81 | $0.53 | $0.43 | $0.49 | $0.37 | $1.81 |
Combined_and_Consolidated_Bala
Combined and Consolidated Balance Sheets (USD $) | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Predecessor | Predecessor | Successor | Successor |
Parent net equity | Parent net equity | |||
Assets | ' | ' | ' | ' |
Cash and cash equivalents | $0 | ' | $46.30 | ' |
Receivables | 27.4 | ' | 20.2 | ' |
Receivables from affiliates, net | 0 | ' | 6.4 | ' |
Inventories | 63.2 | ' | 59.3 | ' |
Other current assets | 0 | ' | 1.7 | ' |
Total current assets | 90.6 | ' | 133.9 | ' |
Properties, plants and equipment, net | 768.7 | ' | 871.1 | ' |
Goodwill and other intangible assets, net | 0 | ' | 16 | ' |
Deferred income taxes | 21.4 | ' | 0 | ' |
Deferred charges and other assets | 4.8 | ' | 6.5 | ' |
Total assets | 885.5 | ' | 1,027.50 | ' |
Liabilities and Equity | ' | ' | ' | ' |
Accounts payable | 41.5 | ' | 58.7 | ' |
Accrued liabilities | 17 | ' | 6.4 | ' |
Short-term debt | 0 | ' | 40 | ' |
Interest payable | 0 | ' | 4.6 | ' |
Total current liabilities | 58.5 | ' | 109.7 | ' |
Long-term debt | 225 | ' | 149.7 | ' |
Deferred income taxes | 0 | ' | 2.8 | ' |
Other deferred credits and liabilities | 0.3 | ' | 0.6 | ' |
Total liabilities | 283.8 | ' | 262.8 | ' |
Equity | ' | ' | ' | ' |
Equity | 601.7 | 601.7 | 580.5 | 0 |
Noncontrolling interest | 0 | ' | 184.2 | ' |
Total equity | 601.7 | ' | 764.7 | ' |
Total liabilities and partners'/parent net equity | $885.50 | ' | $1,027.50 | ' |
Combined_and_Consolidated_Bala1
Combined and Consolidated Balance Sheets (Parenthetical) | Dec. 31, 2013 | Dec. 31, 2012 |
Noncontrolling interest, ownership percentage by noncontrolling owners (as a percent) | 2.00% | 0.00% |
Common Units - Public | ' | ' |
Limited partners' capital account units issued (in units) | 13,503,456 | 0 |
Limited partners' capital account, units outstanding (in shares) | 13,503,456 | 0 |
Common Units - Parent | ' | ' |
Limited partners' capital account units issued (in units) | 2,209,697 | 0 |
Limited partners' capital account, units outstanding (in shares) | 2,209,697 | 0 |
Subordinated Units | ' | ' |
Limited partners' capital account units issued (in units) | 15,709,697 | 0 |
Limited partners' capital account, units outstanding (in shares) | 15,709,697 | 0 |
Combined_and_Consolidated_Stat1
Combined and Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Successor | Predecessor | Predecessor | |
Cash Flows from Operating Activities: | ' | ' | ' |
Net income | $102.90 | $56.80 | $30.80 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization expense | 33 | 33.2 | 18.6 |
Deferred income tax expense | 4.5 | 24.4 | 2.8 |
Changes in working capital pertaining to operating activities (net of acquisitions): | ' | ' | ' |
Receivables | -24.5 | -0.7 | -8 |
Receivables from affiliate, net | -6.4 | 0 | 0 |
Inventories | 8.3 | 3.8 | -32.2 |
Accounts payable | 16.7 | -21.7 | 17.4 |
Accrued liabilities | -13.8 | 0 | 0 |
Interest payable | 4.6 | 0 | 0 |
Other | 5 | 0 | -5.9 |
Net cash provided by operating activities | 130.3 | 95.8 | 23.5 |
Cash Flows from Investing Activities: | ' | ' | ' |
Capital expenditures | -41.5 | -17.5 | -175.7 |
Acquisitions of businesses, net of cash received | -113.3 | 0 | 0 |
Net cash used in investing activities | -154.8 | -17.5 | -175.7 |
Cash Flows from Financing Activities: | ' | ' | ' |
Proceeds from issuance of common units of SunCoke Energy Partners, L.P., net of offering costs | 231.8 | 0 | 0 |
Proceeds from issuance of long-term debt | 150 | 0 | 0 |
Repayment of long-term debt | -225 | 0 | 0 |
Debt issuance costs | -6.8 | 0 | 0 |
Proceeds from revolving facility | 40 | 0 | 0 |
Distributions to unitholders (public and parent) | -37.2 | 0 | 0 |
Distributions to SunCoke Energy, Inc. | -82.9 | 0 | 0 |
Capital contribution from SunCoke Energy Partners GP LLC | 0.9 | 0 | 0 |
Net transfer (to) from parent | 0 | -78.3 | 152.2 |
Net cash provided by (used in) financing activities | 70.8 | -78.3 | 152.2 |
Net increase in cash and cash equivalents | 46.3 | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 | 0 |
Cash and cash equivalents at end of period | $46.30 | $0 | $0 |
Combined_and_Consolidated_Stat2
Combined and Consolidated Statements of Equity (USD $) | Total | Subordinated - SunCoke | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor |
In Millions, unless otherwise specified | Common - Public | Common - SunCoke | Subordinated - SunCoke | Common - Public | SunCoke Energy Inc | SunCoke Energy Inc | General Partner - SunCoke | Noncontrolling Interest | Common - Public | Common - SunCoke | Subordinated - SunCoke | Common - Public | SunCoke Energy Inc | SunCoke Energy Inc | General Partner - SunCoke | Noncontrolling Interest | ||||
Common - SunCoke | Subordinated - SunCoke | Common - SunCoke | Subordinated - SunCoke | |||||||||||||||||
Balance, Beginning of period at Dec. 31, 2010 | ' | ' | $665.20 | ' | ' | ' | $0 | $0 | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | 30.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt allocated from parent | ' | ' | -225 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net increase (decrease) in parent net equity | ' | ' | 152.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, End of period at Dec. 31, 2011 | ' | ' | 623.2 | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | 12.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, End of period at Mar. 31, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, Beginning of period at Dec. 31, 2011 | ' | ' | 623.2 | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | 56.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net increase (decrease) in parent net equity | ' | ' | -78.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ' | ' | 601.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, End of period at Dec. 31, 2012 | ' | ' | 601.7 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, Beginning of period at Sep. 30, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | 15.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ' | ' | 601.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, End of period at Dec. 31, 2012 | ' | ' | 601.7 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | 3.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, End of period at Jan. 23, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, Beginning of period at Dec. 31, 2012 | ' | ' | ' | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23.9 | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, End of period at Mar. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, Beginning of period at Dec. 31, 2012 | ' | ' | 601.7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 102.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 102.9 | ' | ' | ' | ' | ' | ' | ' | ' |
Predecessor net assets not assumed by SunCoke Energy Partners, L.P. | ' | ' | -52.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocation of 65 percent of net parent investment to unitholders | ' | ' | -359.3 | ' | ' | ' | ' | 43.5 | 308.6 | 7.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
SunCoke Energy, Inc. 35 percent retained interest in Haverhill and Middletown | ' | ' | -193.3 | ' | ' | ' | ' | ' | ' | ' | 193.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from initial public offering, net of offering expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 231.8 | ' | ' | ' | 231.8 | ' | ' | ' | ' |
Unit-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | ' | ' | ' | 0.1 | ' | ' | ' | ' |
Capital contribution from SunCoke Energy Partners GP LLC | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | ' | ' | ' | ' | ' | ' | 0.9 | ' |
Distributions to SunCoke Energy, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -82.9 | ' | ' | ' | ' | -3.9 | -28.5 | -0.6 | -49.9 |
Distributions to unitholders | ' | 25.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -37.2 | ' | ' | ' | -15.6 | -2.6 | -18.2 | -0.8 | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 764.7 | ' | ' | ' | 240.8 | 41 | 290.4 | 8.3 | 184.2 |
Balance, End of period at Dec. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 580.5 | 240.8 | 41 | 290.4 | ' | ' | ' | 8.3 | ' |
Balance, Beginning of period at Jan. 23, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.4 | ' | ' | ' | 24.5 | 4 | 28.5 | 1.6 | 40.8 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 764.7 | ' | ' | ' | 240.8 | 41 | 290.4 | 8.3 | 184.2 |
Balance, End of period at Dec. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 580.5 | 240.8 | 41 | 290.4 | ' | ' | ' | 8.3 | ' |
Balance, Beginning of period at Sep. 30, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28.1 | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 764.7 | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, End of period at Dec. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $580.50 | $240.80 | $41 | $290.40 | ' | ' | ' | ' | ' |
Combined_and_Consolidated_Stat3
Combined and Consolidated Statements of Equity (Parenthetical) (IPO) | 12 Months Ended |
Dec. 31, 2013 | |
Haverhill Coke Company LLC and Middletown Coke Company LLC | ' |
Interest in Partnership (as a percent) | 65.00% |
Sun Coal & Coke | ' |
Interest in Partnership (as a percent) | 35.00% |
General
General | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
General | ' |
1. General | |
Description of Business and Basis of Presentation | |
SunCoke Energy Partners, L.P., (the "Partnership", "we", "our" and "us"), is a Delaware limited partnership formed in July 2012 which primarily manufactures coke used in the blast furnace production of steel. On January 24, 2013, we completed the initial public offering ("IPO") of our common units representing limited partner interests. In connection with the IPO, we acquired from SunCoke Energy, Inc. ("SunCoke"), a 65 percent interest in each of Haverhill Coke Company LLC ("Haverhill") and Middletown Coke Company, LLC ("Middletown") and the cokemaking facilities and related assets held by Haverhill and Middletown. SunCoke owns the remaining 35 percent interest in each of Haverhill and Middletown. SunCoke, through its subsidiary, owns a 55.9 percent partnership interest in us and all of our incentive distribution rights and indirectly owns and controls our general partner, which holds a 2 percent general partner interest in us. During 2013, the Partnership completed the acquisition of Lakeshore Coal Handling Corporation and Kanawha River Terminals, both coal handling and blending service providers. See Note 4. | |
The Combined Financial Statements for periods prior to the IPO are the results of SunCoke Energy Partners' Predecessor (the "Predecessor") and were prepared using SunCoke's historical basis in the assets and liabilities of the Predecessor, and include all revenues, costs, assets and liabilities attributed to the Predecessor after the elimination of all intercompany accounts and transactions. The Consolidated Financial Statements for the period after the IPO pertain to the operations of the Partnership. | |
The Predecessor participated in centralized financing and cash management programs not maintained at the Predecessor level for periods prior to the IPO. Accordingly, none of SunCoke’s cash or interest income for periods prior to the IPO has been assigned to the Predecessor in the Combined Financial Statements. Advances between the Predecessor and SunCoke that are specifically related to the Predecessor have been reflected in the Combined Financial Statements. Transfers of cash to and from SunCoke’s financing and cash management program are reflected as a component of parent net equity on the Combined Balance Sheets. | |
Effective July 26, 2011, SunCoke allocated $225.0 million of debt and related debt issuance costs to the Predecessor. In connection with this allocation, interest expense was also allocated to the Predecessor. Prior to July 26, 2011, SunCoke did not have any external debt, and no debt or interest expense was allocated to the Predecessor. See Note 14. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Significant of Significant Accounting Policies | ' |
2. Summary of Significant Accounting Policies | |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in the Combined and Consolidated Financial Statements and accompanying notes. Actual amounts could differ from these estimates. | |
Reclassifications | |
Certain amounts in the prior period Combined and Consolidated Financial Statements have been reclassified to conform to the current year presentation. | |
Revenue Recognition | |
The Partnership sells coke as well as steam and electricity and also provides coal blending and handling services to third-party customers. Revenues related to the sale of products are recognized when title passes, while service revenues are recognized when services are provided as defined by customer contracts. Revenues are not recognized until sales prices are fixed or determinable and collectability is reasonably assured. | |
Substantially all of the coke produced by the Partnership is sold pursuant to long-term contracts with its customers. The Partnership evaluates each of its contracts to determine whether the arrangement contains a lease under the applicable accounting standards. If the specific facts and circumstances indicate that it is remote that parties other than the contracted customer will take more than a minor amount of the coke that will be produced by the property, plant and equipment during the term of the coke supply agreement, and the price that the customer is paying for the coke is neither contractually fixed per unit nor equal to the current market price per unit at the time of delivery, then the long-term contract is deemed to contain a lease. The lease component of the price of coke represents the rental payment for the use of the property, plant and equipment, and all such payments are accounted for as contingent rentals as they are only earned by the Partnership when the coke is delivered and title passes to the customer. The total amount of revenue recognized by the Partnership for these contingent rentals represents less than 10 percent of sales and other operating revenues for each of the years ended December 31, 2013, 2012 and 2011. | |
Cash Equivalents | |
The Company considers all highly liquid investments with a remaining maturity of three months or less at the time of purchase to be cash equivalents. These cash equivalents consist principally of time deposits and money market investments. | |
Inventories | |
Inventories are valued at the lower of cost or market. Cost is determined using the first-in, first-out method, except for materials and supplies inventory, which are determined using the average-cost method. | |
The Partnership utilizes the selling prices under its long-term coke supply contracts to record lower of cost or market inventory adjustments. | |
Properties, Plants and Equipment, Net | |
Plants and equipment are depreciated on a straight-line basis over their estimated useful lives. Coke and energy plant, machinery and equipment are depreciated over 25 to 30 years. Coal logistics plant and equipment are depreciated over 15 to 20 years. Depreciation is excluded from cost of products sold and operating expenses and is presented separately in the Combined and Consolidated Statements of Income. Gains and losses on the disposal or retirement of fixed assets are reflected in earnings when the assets are sold or retired. | |
Amounts incurred that extend an asset’s useful life, increase its productivity or add production capacity are capitalized. Direct costs, such as outside labor, materials, internal payroll and benefits costs, incurred during the construction of a new facility are capitalized; indirect costs are not capitalized. Normal repairs and maintenance costs are expensed as incurred. | |
Impairment of Long-Lived Assets | |
Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. An asset, or group of assets, is considered to be impaired when the undiscounted estimated net cash flows expected to be generated by the asset, or group of assets, are less than its carrying amount. The impairment recognized is the amount by which the carrying amount exceeds the fair market value of the impaired asset, or group of assets. | |
Goodwill and Other Intangibles | |
Goodwill, which represents the excess of the purchase price over the fair value of net assets acquired, is tested for impairment at least annually during the fourth quarter. All other intangible assets have finite useful lives and are amortized over their useful lives in a manner that reflects the pattern in which the economic benefit of the intangible asset is consumed. There was no impairment of goodwill or other intangibles during the periods presented. See Note 11. | |
Shipping and Handling Costs | |
Shipping and handling costs are included in cost of products sold and operating expenses. | |
Fair Value Measurements | |
The Partnership determines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As required, the Partnership utilizes valuation techniques that maximize the use of observable inputs (levels 1 and 2) and minimize the use of unobservable inputs (level 3) within the fair value hierarchy included in current accounting guidance. The Partnership generally applies the “market approach” to determine fair value. This method uses pricing and other information generated by market transactions for identical or comparable assets and liabilities. Assets and liabilities are classified within the fair value hierarchy based on the lowest level (least observable) input that is significant to the measurement in its entirety. | |
Recently Issued Pronouncements | |
There are no recently issued accounting standards which are not yet effective that the Partnership believes would materially impact its Combined and Consolidated Financial Statements. | |
Labor Concentrations | |
We are managed and operated by the officers of our general partner. Our operating personnel are employees of our operating subsidiaries. As of December 31, 2013, our operating subsidiaries had approximately 431 employees. Approximately 34 percent of our operating subsidiaries' employees are represented by the United Steelworkers. Additionally, approximately 6 percent are represented by the International Union of Operating Engineers. |
Initial_Public_Offering
Initial Public Offering | 12 Months Ended |
Dec. 31, 2013 | |
Initial Public Offering [Abstract] | ' |
Initial Public Offering | ' |
3. Initial Public Offering | |
Initial Public Offering | |
On January 23, 2013, in anticipation of the closing of the IPO, we entered into a contribution agreement with Sun Coal & Coke, a subsidiary of SunCoke, and our general partner (the "Contribution Agreement"). Pursuant to the Contribution Agreement, upon the closing of the IPO on January 24, 2013, Sun Coal & Coke contributed to us an interest in each of Haverhill and Middletown which resulted in our owning a 65 percent interest in each of Haverhill and Middletown. In exchange, our general partner continued to hold a 2 percent general partner interest in us and we issued to our general partner incentive distribution rights ("IDRs") in us. We also issued to Sun Coal & Coke 2,209,697 common units and 15,709,697 subordinated units. The 35 percent interest in each of Haverhill and Middletown retained by Sun Coal & Coke is recorded as a noncontrolling interest of the Partnership. For the year ended December 31, 2013, net income attributable to noncontrolling interest was $40.8 million. | |
In conjunction with the closing of the IPO, we sold 13,500,000 common units, representing a 42.1 percent partnership interest, to the public at an initial public offering price of $19.00 per common unit. Gross proceeds from the offering were approximately $256.5 million and net proceeds were approximately $231.8 million after deducting underwriting discounts and offering expenses of $24.7 million, $6.0 million of which were paid by SunCoke in 2012 and reimbursed by us upon the closing of the IPO. We assumed and repaid $225.0 million of SunCoke's term loan debt and we retained $67.0 million for environmental remediation project expenditures of Haverhill and Middletown, $12.4 million for sales discounts related to tax credits owed to customers of Haverhill, and $39.6 million to replenish our working capital. We used a portion of the net proceeds from the IPO and the concurrent issuance and sale of senior notes discussed below to make a distribution of $33.1 million to SunCoke to, in effect, reimburse SunCoke for expenditures made during the two-year period prior to the IPO for the expansion and improvement of certain assets, an interest in which SunCoke contributed to us in connection with the IPO pursuant to the Contribution Agreement described above. | |
Concurrent with the closing of the IPO, we and SunCoke Energy Partners Finance Corp., a Delaware corporation and a wholly owned subsidiary of ours, as co-issuers, issued $150.0 million aggregate principal amount of 7.375 percent senior notes ("Partnership Notes") due 2020 in a private placement to eligible purchasers. The Partnership Notes are the senior unsecured obligations of the co-issuers and are guaranteed on a senior unsecured basis by each of our existing and certain future subsidiaries other than SunCoke Energy Partners Finance Corp. We received net proceeds of approximately $146.3 million, net of debt issuance costs of $3.7 million, from the offering of the Partnership Notes. We also incurred $2.2 million of debt issuance costs related to entering into a revolving credit facility. See Note 14. | |
Omnibus Agreement | |
In connection with the closing of the IPO, we entered into an omnibus agreement with SunCoke and our general partner that addresses certain aspects of our relationship with them, including: | |
Business Opportunities. We have preferential rights to invest in, acquire and construct cokemaking facilities in the United States ("U.S.") and Canada. SunCoke has preferential rights to all other business opportunities. | |
Potential Defaults by Coke Agreement Counterparties. For a period of five years from the closing date of the IPO, SunCoke has agreed to make us whole (including an obligation to pay for coke) to the extent (i) AK Steel exercises the early termination right provided in its Haverhill coke sales agreement, (ii) any customer fails to purchase coke or defaults in payment under its coke sales agreement (other than by reason of force majeure or our default) or (iii) we amend a coke sales agreement's terms to reduce a customer's purchase obligation as a result of the customer's financial distress. We and SunCoke will share in any damages and other amounts recovered from third parties arising from such events in proportion to our relative losses. | |
During 2013, SunCoke cooperated with AK Steel on its projected second half of 2013 coke needs after a blast furnace outage at their Middletown plant in the second quarter of 2013. Specifically, due to this outage, SunCoke agreed to manage production at the Haverhill cokemaking facility to be consistent with annual contract maximums and to temporarily scale back coke production at the Middletown facility to name plate capacity levels in the second half of 2013. As a result, pursuant to this omnibus agreement, SunCoke, through the general partner, made capital contributions of $0.9 million to us during 2013. | |
Environmental Indemnity. SunCoke will indemnify us to the full extent of any remediation at the Haverhill and Middletown cokemaking facilities arising from any environmental matter discovered and identified as requiring remediation prior to the closing of the IPO. SunCoke contributed $67.0 million in satisfaction of this obligation, at the closing date of the IPO, from the proceeds of the IPO. If, prior to the fifth anniversary of the closing of the IPO, a pre-existing environmental matter that was discovered either before or after the closing of the IPO is identified as requiring remediation, SunCoke will indemnify us for up to $50.0 million of any such remediation costs (we will bear the first $5.0 million of any such costs). | |
Other Indemnification. SunCoke will fully indemnify us with respect to any tax liability arising prior to or in connection with the closing of the IPO. Additionally, SunCoke will either cure or fully indemnify us for losses resulting from any material title defects at the properties owned by the entities acquired in connection with the closing of the IPO, to the extent that those defects interfere with or could reasonably be expected to interfere with the operations of the related cokemaking facilities. We will indemnify SunCoke for events relating to our operations except to the extent that we are entitled to indemnification by SunCoke. | |
License. SunCoke has granted us a royalty-free license to use the name “SunCoke” and related marks. Additionally, SunCoke has granted us a non-exclusive right to use all of SunCoke's current and future cokemaking and related technology. We have not paid and will not pay a separate license fee for the rights we receive under the license. | |
Expenses and Reimbursement. SunCoke will continue to provide us with certain corporate and other services, and we will reimburse SunCoke for all direct costs and expenses incurred on our behalf and a portion of corporate and other costs and expenses attributable to our operations. Additionally, we paid all fees in connection with our senior notes offering and our revolving credit facility and have agreed to pay all additional fees in connection with any future financing arrangement entered into for the purpose of replacing the credit facility or the senior notes. | |
So long as SunCoke controls our general partner, the omnibus agreement will remain in full force and effect unless mutually terminated by the parties. If SunCoke ceases to control our general partner, the omnibus agreement will terminate, but our rights to indemnification and use of SunCoke's existing cokemaking and related technology will survive. The omnibus agreement can be amended by written agreement of all parties to the agreement, but we may not agree to any amendment that would, in the reasonable discretion of our general partner, be adverse in any material respect to the holders of our common units without prior approval of the conflicts committee. |
Acquisition
Acquisition | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Business Combinations [Abstract] | ' | |||
Acquisition | ' | |||
4. Acquisitions | ||||
SunCoke Lake Terminal LLC | ||||
On August 30, 2013, the Partnership completed its acquisition of the assets and business operations of Lakeshore Coal Handling Corporation ("Lakeshore"), now called SunCoke Lake Terminal LLC ("Lake Terminal") for $28.6 million. Prior to the acquisition, the entity that owns SunCoke's Indiana Harbor cokemaking operations was a customer of Lakeshore and held the purchase rights to Lakeshore. Concurrent with the closing of the transaction, the Partnership paid $1.8 million to DTE Energy Company, the third party investor owning a 15 percent interest in the entity that owns Indiana Harbor, in consideration for assigning its share of the Lake Terminal buyout rights to the Partnership. The Partnership recognized this payment in selling, general, and administrative expenses on the Consolidated Statement of Income during the period. | ||||
Located in East Chicago, Indiana, Lake Terminal does not take possession of coal but instead derives its revenue by providing coal handing and blending services to its customers on a per ton basis. Lake Terminal has and will continue to provide coal handling and blending services to SunCoke's Indiana Harbor cokemaking operations. In September 2013, Lake Terminal and Indiana Harbor entered into a new 10 year contract with terms equivalent to those of an arm's-length transaction. | ||||
The following table summarizes the consideration paid for Lake Terminal and the fair value of the assets acquired at the acquisition date (dollars in millions): | ||||
Consideration: | ||||
Cash | $ | 28.6 | ||
Recognized amounts of identifiable assets acquired and liabilities assumed: | ||||
Plant, property and equipment | 25.9 | |||
Inventory | 2.7 | |||
Total | $ | 28.6 | ||
The results of Lake Terminal have been included in the Combined and Consolidated Financial Statements since the acquisition date and are included in the Coal Logistics segment. The acquisition of Lake Terminal increased revenues by $4.6 million and operating income by $1.9 million for the year ended December 31, 2013. The acquisition of Lake Terminal is not material to the Company's Combined and Consolidated Financial Statements; therefore, pro forma information has not been presented. | ||||
Kanawha River Terminal LLC | ||||
On October 1, 2013, the Partnership acquired Kanawha River Terminals ("KRT") for $84.7 million, utilizing $44.7 million of available cash and $40.0 million of borrowings under its existing revolving credit facility. KRT a leading metallurgical and thermal coal blending and handling service provider with collective capacity to blend and transload 30 million tons of coal annually through its operations in West Virginia and Kentucky. KRT has and will continue to provide coal handling and blending services to third parties as well as the Partnership's Middletown cokemaking operations and certain other SunCoke facilities under contract with terms equivalent to those of an arm's-length transaction. This acquisition is part of the Company’s strategy to grow through adjacent business lines. The goodwill of $8.2 million arising from the acquisition is primarily due to the strategic location of KRT’s operations. | ||||
The following table summarizes the consideration paid for KRT and the fair value of assets acquired and liabilities assumed at the acquisition date (dollars in millions): | ||||
Consideration: | ||||
Cash | $ | 84.7 | ||
Recognized amounts of identifiable assets acquired and liabilities assumed: | ||||
Current assets | $ | 5.2 | ||
Plant, property and equipment | 67.2 | |||
Intangible assets | 7.9 | |||
Current liabilities | (3.7 | ) | ||
Other long-term liabilities | (0.1 | ) | ||
Total identifiable net assets assumed | 76.5 | |||
Goodwill | 8.2 | |||
Total | $ | 84.7 | ||
The results of KRT have been included in the Combined and Consolidated Financial Statements since the acquisition date and are included in the Coal Logistics segment. Inclusive of intersegment sales of $1.1 million, KRT had revenues of $9.0 million for the year ended December 31, 2013. The acquisition of KRT increased operating income by $1.0 million for the year ended December 31, 2013. The acquisition of KRT is not material to the Company’s Combined and Consolidated Financial Statements; therefore, pro forma information has not been presented. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
5. Related Party Transactions | |
The related party transactions with SunCoke and its affiliates are described below. | |
Transactions with Affiliate | |
At December 31, 2013, the Partnership had net receivables with SunCoke and its affiliates of $6.4 million. Coal Logistics provides coal handling and blending services to certain SunCoke cokemaking operations. During 2013, Coal Logistics recorded $4.4 million in revenues derived from services provided to SunCoke’s cokemaking operations. During 2013, the Partnership also purchased and sold coke to other SunCoke entities in order to facilitate certain commercial agreements. Revenues and purchases from these related party transactions totaled $19.2 million and $6.0 million, respectively, during 2013. Pursuant to the omnibus agreement, the terms of these transactions were consistent with the Partnership’s existing customer agreements up to contract maximum production levels. Sales exceeding contract maximum production levels were based on current market values. The Partnership also purchased coal and other services from SunCoke and its affiliates totaling $18.1 million during 2013. | |
The flue gas produced during the Haverhill cokemaking process is utilized to generate low-pressure steam, which is sold to the adjacent chemical manufacturing facility formerly owned and operated by the chemical business of SunCoke's former parent, Sunoco, Inc. ("Sunoco"). In the fourth quarter of 2011, Sunoco sold this facility to Goradia Capital LLC, an unrelated party. Steam sales to Sunoco’s chemicals business totaled $7.7 million in 2011. | |
Allocated Expenses | |
We incurred allocated expenses of $16.7 million, $20.8 million and $16.5 million in 2013, 2012 and 2011, respectively. These allocated costs are for services provided to us by SunCoke. SunCoke centrally provides engineering, operations, procurement and information technology support to its facilities. In addition, allocated costs include legal, accounting, tax, treasury, insurance, employee benefit costs, communications and human resources. For periods subsequent to the IPO, corporate allocations were recorded based upon the omnibus agreement under which SunCoke will continue to provide us with certain support services. SunCoke will charge us for all direct costs and expense incurred on our behalf and a fee associated with support services provided to our operations. | |
Parent Net Equity | |
For the periods prior to the IPO, net transfers (to) from parent are included within parent net equity within the Combined Financial Statements and included intercompany dividends, cash pooling and general financing activities, cash transfers for capital expenditures and corporate allocations, including income taxes. |
Customer_Concentrations
Customer Concentrations | 12 Months Ended |
Dec. 31, 2013 | |
Risks and Uncertainties [Abstract] | ' |
Customer Concentrations | ' |
6. Customer Concentrations | |
In 2013, the Partnership sold approximately 1.8 million tons of coke to its two primary customers: AK Steel Corporation, or AK Steel, and ArcelorMittal USA, Inc., or ArcelorMittal. The first phase of its Haverhill facility, or Haverhill 1, sells approximately one-half of the production from the Haverhill facility pursuant to long-term contracts with ArcelorMittal. The second phase of its Haverhill facility, or Haverhill 2, sells the remaining balance of coke produced at the Haverhill facility to AK Steel under long-term contracts. All coke sales from the Middletown cokemaking facility, which commenced operations in the fourth quarter of 2011, are made pursuant to a long-term contract with AK Steel. | |
The Partnership generally does not require any collateral with respect to its receivables. At December 31, 2013, the Partnership’s receivables balances were primarily due from ArcelorMittal and AK Steel. As a result, the Partnership experiences concentrations of credit risk in its receivables with these two customers; these concentrations of credit risk may be affected by changes in economic or other conditions affecting the steel industry. At December 31, 2013, receivables due from ArcelorMittal and AK Steel were $7.0 million and $8.9 million, respectively. | |
Sales to ArcelorMittal, in total, accounted for $178.8 million, $207.3 million and $206.8 million, or 26 percent, 28 percent and 46 percent, respectively of the Partnership’s total revenues for the years ended December 31, 2013, 2012 and 2011. | |
Sales to AK Steel, in total, accounted for $460.5 million, $510.9 million and $215.2 million or 67 percent, 69 percent and 48 percent respectively, of the Partnership's total revenues for the years ended December 31, 2013, 2012 and 2011. |
Net_Income_Per_Unit_and_Cash_D
Net Income Per Unit and Cash Distributions | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Net Income Per Unit and Cash Distributions | ' | |||||||||||||||
7. Net Income per Unit and Cash Distribution | ||||||||||||||||
The following is a summary of net income for the year ended December 31, 2013 disaggregated between the Predecessor and the Partnership: | ||||||||||||||||
SunCoke Energy Partners, L.P. | SunCoke Energy Partners, L.P. | 31-Dec-13 | ||||||||||||||
Predecessor | ||||||||||||||||
Through | From | |||||||||||||||
23-Jan-13 | 24-Jan-13 | |||||||||||||||
(Dollars in millions) | ||||||||||||||||
Revenues | ||||||||||||||||
Sales and other operating revenue | $ | 47.6 | $ | 639.7 | $ | 687.3 | ||||||||||
Costs and operating expenses | ||||||||||||||||
Cost of products sold and operating expenses | 36.8 | 473.3 | 510.1 | |||||||||||||
Selling, general and administrative expenses | 1.1 | 20.3 | 21.4 | |||||||||||||
Depreciation and amortization expense | 1.9 | 31.1 | 33 | |||||||||||||
Total costs and operating expenses | 39.8 | 524.7 | 564.5 | |||||||||||||
Operating income | 7.8 | 115 | 122.8 | |||||||||||||
Interest expense, net | 0.6 | 14.8 | 15.4 | |||||||||||||
Income before income tax expense | 7.2 | 100.2 | 107.4 | |||||||||||||
Income tax expense | 3.7 | 0.8 | 4.5 | |||||||||||||
Net income | $ | 3.5 | $ | 99.4 | $ | 102.9 | ||||||||||
Net income per unit applicable to limited partners (including subordinated unitholders) is computed by dividing limited partners’ interest in net income, after deducting the general partner’s 2 percent interest and incentive distributions, by the weighted-average number of outstanding common and subordinated units. Our net income is allocated to the general partner and limited partners in accordance with their respective partnership percentages, after giving effect to priority income allocations for incentive distributions, if any, to our general partner, pursuant to our partnership agreement. Net income per unit is only calculated for the Partnership subsequent to the IPO as no units were outstanding prior to January 24, 2013. Payments made to our unitholders are determined in relation to actual distributions declared and are not based on the net income allocations used in the calculation of net income per unit. For the year ended December 31, 2013, the weighted-average number of common and subordinated units outstanding was 15,711,140 units and 15,709,697 units, respectively. | ||||||||||||||||
In addition to the common and subordinated units, we have also identified the general partner interest and IDRs as participating securities and use the two-class method when calculating the net income per unit applicable to limited partners, which is based on the weighted-average number of common units outstanding during the period. Basic and diluted net income per unit applicable to limited partners are the same because we do not have any potentially dilutive units outstanding. | ||||||||||||||||
The calculation of net income per unit is as follows: | ||||||||||||||||
31-Dec-13 | ||||||||||||||||
(Dollars and units in millions, except per unit amounts) | ||||||||||||||||
Net income attributable to SunCoke Energy Partners, L.P. subsequent to initial public offering | $ | 58.6 | ||||||||||||||
Less: General partner's interest in net income subsequent to initial public offering | 1.6 | |||||||||||||||
Limited partners' interest in net income subsequent to initial public offering | $ | 57 | ||||||||||||||
Net income per limited partner unit: | ||||||||||||||||
Common - Public and SunCoke | $ | 1.81 | ||||||||||||||
Subordinated - SunCoke | $ | 1.81 | ||||||||||||||
Limited partner units outstanding: | ||||||||||||||||
Common units - Public | 13.5 | |||||||||||||||
Common units - SunCoke | 2.2 | |||||||||||||||
Subordinated units - SunCoke | 15.7 | |||||||||||||||
Cash Distributions | ||||||||||||||||
Our partnership agreement generally provides that we will make our distribution, if any, each quarter in the following manner: | ||||||||||||||||
• | first, 98 percent to the holders of common units and 2 percent to our general partner, until each common unit has received the minimum quarterly distribution of $0.412500 plus any arrearages from prior quarters; | |||||||||||||||
• | second, 98 percent to the holders of subordinated units and 2 percent to our general partner, until each subordinated unit has received the minimum quarterly distribution of $0.412500; and | |||||||||||||||
• | third, 98 percent to all unitholders, pro rata, and 2 percent to our general partner, until each unit has received a distribution of $0.474375. | |||||||||||||||
If cash distributions to our unitholders exceed $0.474375 per unit in any quarter, our unitholders and our general partner will receive distributions according to the following percentage allocations: | ||||||||||||||||
Total Quarterly Distribution Per Unit Amount | Marginal Percentage | |||||||||||||||
Interest in Distributions | ||||||||||||||||
Unitholders | General Partner | |||||||||||||||
Minimum Quarterly Distribution | $0.41 | 98 | % | 2 | % | |||||||||||
First Target Distribution | above $0.412500 | up to $0.474375 | 98 | % | 2 | % | ||||||||||
Second Target Distribution | above $0.474375 | up to $0.515625 | 85 | % | 15 | % | ||||||||||
Third Target Distribution | above $0.515625 | up to $0.618750 | 75 | % | 25 | % | ||||||||||
Thereafter | above $0.681750 | 50 | % | 50 | % | |||||||||||
In accordance with our partnership agreement, on April 23, 2013, we declared a quarterly cash distribution totaling $9.8 million, or $0.3071 per unit. In calculating this distribution, the minimum quarterly distribution was adjusted to reflect the period beginning on January 24, 2013, the closing date of the IPO, through March 31, 2013. This distribution was paid on May 31, 2013 to unitholders of record on May 15, 2013. There were no distributions declared or paid prior to this distribution. | ||||||||||||||||
On July 23, 2013, the Partnership, in accordance with the partnership agreement, declared a quarterly cash distribution totaling $13.5 million, or $0.4225 per unit. The distribution was paid on August 30, 2013 to unitholders of record on August 15, 2013. On October 22, 2013, the Partnership, in accordance with the partnership agreement, declared a quarterly cash distribution totaling $13.9 million, or $0.4325 per unit. The distribution was paid on November 29, 2013 to unitholders of record on November 15, 2013. On January 27, 2014, the Partnership, in accordance with the partnership agreement, declared a quarterly cash distribution totaling $15.2 million, or $0.4750 per unit. The distribution will be paid on February 28, 2014 to unitholders of record on February 14, 2014. | ||||||||||||||||
The allocation of total quarterly cash distributions to general and limited partners is as follows. Our distributions are declared subsequent to quarter end; therefore, the table below represents total cash distributions applicable to the period in which the distributions were earned: | ||||||||||||||||
Three Months Ended March 31, 2013 | Three Months Ended June 30, 2013 | Three Months Ended September 30, | Three Months Ended December 31, | |||||||||||||
2013 | 2013 | |||||||||||||||
(Dollars in millions, except per unit amounts) | ||||||||||||||||
General partner's distribution: | ||||||||||||||||
General partner's interest | $ | 0.2 | $ | 0.3 | $ | 0.3 | $ | 0.4 | ||||||||
General partner's incentive distribution | — | — | — | — | ||||||||||||
Total general partner's distribution | $ | 0.2 | $ | 0.3 | $ | 0.3 | $ | 0.4 | ||||||||
Limited partners' distribution: | ||||||||||||||||
Common | $ | 4.8 | $ | 6.6 | $ | 6.8 | $ | 7.4 | ||||||||
Subordinated | 4.8 | 6.6 | 6.8 | 7.4 | ||||||||||||
Total limited partner's distribution | $ | 9.6 | $ | 13.2 | $ | 13.6 | $ | 14.8 | ||||||||
Total cash distributions | $ | 9.8 | $ | 13.5 | $ | 13.9 | $ | 15.2 | ||||||||
Cash distributions per unit applicable | $ | 0.3071 | $ | 0.4225 | $ | 0.4325 | $ | 0.475 | ||||||||
to limited partners | ||||||||||||||||
Allocation of Net Income | ||||||||||||||||
Our partnership agreement contains provisions for the allocation of net income to the unitholders and the general partner. For purposes of maintaining partner capital accounts, the partnership agreement specifies that items of income and loss shall be allocated among the partners in accordance with their respective percentage interest. Normal allocations according to percentage interests are made after giving effect, if any, to priority income allocations in an amount equal to incentive cash distributions allocated 100 percent to the general partner. | ||||||||||||||||
The calculation of net income allocated to the limited partners was as follows: | ||||||||||||||||
31-Dec-13 | ||||||||||||||||
(Dollars in millions) | ||||||||||||||||
Net Income Attributable to Common Unitholders: | ||||||||||||||||
Distributions | $ | 25.6 | ||||||||||||||
Undistributed earnings | 2.9 | |||||||||||||||
Common unitholders' interest in net income subsequent to initial public offering | $ | 28.5 | ||||||||||||||
Net Income Attributable to Subordinated Unitholders: | ||||||||||||||||
Distributions | $ | 25.6 | ||||||||||||||
Undistributed earnings | 2.9 | |||||||||||||||
Subordinated unitholders' interest in net income subsequent to initial public offering | $ | 28.5 | ||||||||||||||
Distributions declared per unit | $ | 1.6371 | ||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Income Taxes | ' | ||||||||||||||||||||||||||||
8. Income Taxes | |||||||||||||||||||||||||||||
The Partnership is a limited partnership and generally is not subject to federal or state income taxes. Earnings from our Middletown operations, however, are subject to a local income tax. | |||||||||||||||||||||||||||||
The Predecessor’s tax provision was determined on a theoretical separate-return basis. Prior to July 2012, the Predecessor received federal income tax credits for coke production from the Haverhill 1 and Haverhill 2 cokemaking facilities. These tax credits were earned for each ton of coke produced and sold during the four years after the initial coke production at each facility. The eligibility to generate tax credits for coke production expired in March 2009 and July 2012, respectively, for the Haverhill 1 and Haverhill 2 facilities. In conjunction with the contribution of the 65 percent interest in Haverhill and Middletown upon the closing of the IPO, all deferred tax assets and liabilities were eliminated through equity. | |||||||||||||||||||||||||||||
The components of income tax disaggregated between the Predecessor and Partnership are as follows: | |||||||||||||||||||||||||||||
Partnership | Predecessor | ||||||||||||||||||||||||||||
Period from January 24, 2013 to December 31, 2013 | Period from January 1, 2013 to January 23, 2013 | Years Ended December 31, | |||||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||||||
(Dollars in millions) | |||||||||||||||||||||||||||||
Income Tax: | |||||||||||||||||||||||||||||
U.S. federal | $ | — | $ | 2.5 | $ | 24.4 | $ | 2.8 | |||||||||||||||||||||
U.S. state and local | $ | 0.8 | $ | 1.2 | $ | — | $ | — | |||||||||||||||||||||
Total | $ | 0.8 | $ | 3.7 | $ | 24.4 | $ | 2.8 | |||||||||||||||||||||
The reconciliation of income tax expense at the U.S. statutory rate to the income tax expense disaggregated between the Predecessor and Partnership is as follows: | |||||||||||||||||||||||||||||
Partnership | Predecessor | ||||||||||||||||||||||||||||
Period from | Period from | Years Ended December 31, | |||||||||||||||||||||||||||
January 24, 2013 to December 31, 2013 | January 1, 2013 to January 23, 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(Dollars in millions | |||||||||||||||||||||||||||||
Income tax expense at U.S. statutory rate of 35 percent | $ | 35.1 | 35 | % | $ | 2.5 | 35 | % | $ | 28.4 | 35 | % | $ | 11.8 | 35 | % | |||||||||||||
Increase (reduction) in income taxes | |||||||||||||||||||||||||||||
resulting from: | |||||||||||||||||||||||||||||
Nonconventional fuel credit | — | — | % | — | — | % | (4.8 | ) | (6.0 | )% | (9.1 | ) | (27.0 | )% | |||||||||||||||
Partnership income not subject to tax | (35.1 | ) | (35.0 | )% | — | — | % | — | — | % | — | — | % | ||||||||||||||||
Local tax for Middletown operations | 0.5 | 0.5 | % | 0.6 | 8.3 | % | — | — | % | — | — | % | |||||||||||||||||
Other | 0.3 | 0.3 | % | 0.6 | 8.3 | % | 0.8 | 1 | % | 0.1 | 0.3 | % | |||||||||||||||||
$ | 0.8 | 0.8 | % | $ | 3.7 | 51.6 | % | $ | 24.4 | 30 | % | $ | 2.8 | 8.3 | % | ||||||||||||||
The tax effects of temporary differences that comprise the net deferred income tax asset are as follows: | |||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(Dollars in millions) | |||||||||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||||||
Nonconventional fuel credit carryforward | $ | — | $ | 64.5 | |||||||||||||||||||||||||
Federal net operating loss | — | 139.5 | |||||||||||||||||||||||||||
Local net operating loss | 3.2 | — | |||||||||||||||||||||||||||
Other liabilities not yet deductible | — | 4.3 | |||||||||||||||||||||||||||
Total deferred tax assets | 3.2 | 208.3 | |||||||||||||||||||||||||||
Less valuation allowance | (0.3 | ) | — | ||||||||||||||||||||||||||
Deferred tax asset, net | 2.9 | 208.3 | |||||||||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||||||||||
Properties, plants and equipment | (4.9 | ) | (186.9 | ) | |||||||||||||||||||||||||
Total deferred tax liabilities | (4.9 | ) | (186.9 | ) | |||||||||||||||||||||||||
Net deferred tax (liability) asset | $ | (2.0 | ) | $ | 21.4 | ||||||||||||||||||||||||
The net deferred income tax liability is classified in the Combined and Consolidated Balance Sheets as follows: | |||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(Dollars in millions) | |||||||||||||||||||||||||||||
Current asset | $ | 0.8 | $ | — | |||||||||||||||||||||||||
Noncurrent (liability) asset | (2.8 | ) | 21.4 | ||||||||||||||||||||||||||
Net deferred tax (liability) asset | $ | (2.0 | ) | $ | 21.4 | ||||||||||||||||||||||||
As of December 31, 2013, we had a local net operating loss carryforward which will be used to offset future local taxable income. If not used, the carryforward will expire between 2017 and 2018. | |||||||||||||||||||||||||||||
Local income tax returns are generally subject to examination for a period of three years after filing of the respective returns. Pursuant to the omnibus agreement, SunCoke will fully indemnify us with respect to any tax liability arising prior to or in connection with the closing of the IPO. There are no uncertain tax positions recorded at December 31, 2013 or 2012 and there were no interest or penalties recognized related to uncertain tax positions for the years ended December 31, 2013, 2012 and 2011. |
Inventories
Inventories | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventories | ' | |||||||
9. Inventories | ||||||||
The Partnership’s inventory consists of metallurgical coal, which is the principal raw material for the Partnership’s cokemaking operations; coke, which is the finished good sold by the Partnership to its customers; and materials, supplies and other. | ||||||||
These components of inventories were as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(Dollars in millions) | ||||||||
Coal | $ | 33.1 | $ | 41.6 | ||||
Coke | 4.1 | 5.9 | ||||||
Material, supplies, and other | 22.1 | 15.7 | ||||||
Total Inventories | $ | 59.3 | $ | 63.2 | ||||
Properties_Plants_and_Equipmen
Properties, Plants, and Equipment, Net | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Properties, Plants, and Equipment, Net | ' | |||||||
10. Properties, Plants, and Equipment, Net | ||||||||
The components of net properties, plants and equipment were as follows: | ||||||||
December 31, (1) | ||||||||
2013 | 2012 | |||||||
(Dollars in millions) | ||||||||
Coke and energy plant, machinery and equipment | $ | 836.8 | $ | 823.5 | ||||
Coal logistics plant, machinery and equipment | 82.6 | — | ||||||
Land and land improvements | 44.3 | 34.2 | ||||||
Construction-in-progress | 36.3 | 9.6 | ||||||
Other | 1.6 | 0.5 | ||||||
Gross investment, at cost | 1,001.60 | 867.8 | ||||||
Less: accumulated depreciation | (130.5 | ) | (99.1 | ) | ||||
Total Properties, Plant and Equipment, net | $ | 871.1 | $ | 768.7 | ||||
-1 | Includes assets, consisting mainly of coke and energy plant, machinery and equipment, with a gross investment totaling $418.4 million and $414.6 million and accumulated depreciation of $29.0 million and $15.0 million at December 31, 2013 and December 31, 2012, respectively, which are subject to long-term contracts to sell coke and are deemed to contain operating leases. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||||
11. Goodwill and Other Intangible Assets | |||||||||||||||
During 2013, the Partnership recorded goodwill of $8.2 million in connection with the acquisition of KRT. | |||||||||||||||
The components of definite-lived intangible assets were as follows (in millions): | |||||||||||||||
December 31, 2013 | |||||||||||||||
Weighted - Average Remaining Amortization | Gross Carrying Amount | Accumulated Amortization | Net | ||||||||||||
Customer relationships | 11 | $ | 6.7 | $ | 0.1 | $ | 6.6 | ||||||||
Trade name | 5 | 1.2 | — | 1.2 | |||||||||||
Total | $ | 7.9 | $ | 0.1 | $ | 7.8 | |||||||||
Total amortization expense for intangible assets subject to amortization was $0.1 million for the year ended December 31, 2013. Based on the carrying value of definite-lived intangible assets as of December 31, 2013, the Partnership estimates its amortization expense to be $0.8 million in each of the next five years. |
Retirement_and_OtherPostEmploy
Retirement and Other-Post-Employment Benefits Plans | 12 Months Ended |
Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Retirement and Other-Post-Employment Benefits Plans | ' |
12. Retirement and Other Post-Employment Benefits Plans | |
Certain employees of the Partnership's operating subsidiaries participate in defined contribution and postretirement health care and life insurance plans sponsored by SunCoke. These plans have been accounted for in the Combined and Consolidated Financial Statements as multi-employer plans and are immaterial to the results of the Partnership for all periods presented. | |
Defined Contribution Plans | |
Certain employees of the Partnership's operating subsidiaries participate in defined contribution plans sponsored by SunCoke which provide retirement benefits. The Partnership’s contributions, which are principally based on its allocable portion of SunCoke’s pretax income and the aggregate compensation levels of participating employees and are charged against income as incurred, amounted to $1.5 million, $1.2 million and $1.0 million in 2013, 2012 and 2011, respectively. | |
Postretirement Health Care and Life Insurance Plans | |
Certain employees of the Partnership’s operating subsidiaries participate in other unfunded postemployment benefit plans sponsored by SunCoke. The amount of other postretirement benefit plans expense allocated to the Partnership related to these plans is reflected in operating expenses in the Combined and Consolidated Statements of Income and was immaterial for all periods presented. | |
The postretirement benefit plans are unfunded and the costs are borne by the Partnership. |
Accrued_Liabilities
Accrued Liabilities | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Liabilities Disclosure [Abstract] | ' | |||||||
Accrued Liabilities | ' | |||||||
13. Accrued Liabilities | ||||||||
Accrued liabilities consisted of following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(Dollars in millions) | ||||||||
Accrued sales discounts | $ | — | $ | 12.4 | ||||
Accrued benefits | 4.2 | 1.9 | ||||||
Other | 2.2 | 2.7 | ||||||
Total | $ | 6.4 | $ | 17 | ||||
Debt
Debt | 12 Months Ended |
Dec. 31, 2013 | |
Debt Disclosure [Abstract] | ' |
Debt | ' |
14. Debt | |
Credit Facilities | |
On July 26, 2011, SunCoke entered into a credit agreement (the “Credit Agreement”) which provides for a seven-year term loan (the “Term Loan”). Borrowings under the Term Loan bear interest, at SunCoke’s option, at either (i) base rate plus an applicable margin or (ii) the greater of 1.00 percent or LIBOR plus an applicable margin. The applicable margin on the Term Loan is (i) in the case of base rate loans, 2.00 percent per annum and (ii) in the case of LIBOR loans, 3.00 percent per annum. The weighted-average interest rate for borrowings outstanding under the Term Loan during 2012 was 4.07 percent. | |
Though SunCoke is the legal entity obligated to repay the Term Loan, effective July 26, 2011, SunCoke allocated $225.0 million of the Term Loan and related debt issuance costs of $5.7 million to the Partnership. Interest expense and amortization of debt issuance costs related to the Term Loan were allocated to the Partnership beginning on July 26, 2011 and totaled $0.6 million, $10.3 million and $4.7 million in 2013, 2012 and 2011, respectively. The amount of consolidated debt attributed to the Combined and Consolidated Financial Statements may not be indicative of the actual amounts that we would have incurred had we been operating as an independent, publicly-traded partnership for periods prior to the IPO. Prior to entering into the Credit Agreement, SunCoke did not have any external debt, and no debt or interest expense was allocated to the Predecessor. On January 24, 2013, in conjunction with the IPO, we assumed and repaid the $225.0 million of the Term Loan that was allocated to us. In conjunction with the repayment, we incurred a charge of approximately $2.9 million representing the write-off of unamortized debt issuance costs and original issue discount related to the portion of the Term Loan extinguished, which is recorded in interest expense on the Combined and Consolidated Statement of Income | |
In conjunction with the closing of the IPO, we also entered into a $100.0 million revolving credit facility ("the Revolver") with a term extending through January 2018 and incurred $2.2 million of debt issuance costs. The Revolver was amended on August 28, 2013, increasing the total aggregate commitments from lenders to $150.0 million and now also providing for up to $100.0 million uncommitted incremental revolving capacity, subject to the satisfaction of certain conditions. We paid $0.9 million in fees related to the Revolver amendment. The fees have been included in deferred charges and other assets in the Combined and Consolidated Balance Sheet, which will be amortized over the life of the Revolver. On October 1, 2013 the Partnership borrowed $40.0 million against the credit facility for the purchase of KRT. The weighted-average interest rate for borrowings under the Revolver during 2013 was 2.43 percent. In addition to the $40.0 million borrowed, the credit facility had letters of credit outstanding of $0.7 million, leaving $109.3 million available as of December 31, 2013. Commitment fees are based on the unused portion of the Revolver at a rate of 0.40 percent. | |
Senior Notes | |
With the closing of the IPO, the Partnership issued $150.0 million of Partnership Notes and incurred debt issuance costs of $3.7 million, $0.8 million of which was immediately expensed and recorded in interest expense on the Combined and Consolidated Statement of Income as it related to the portion of the issuance that was considered a modification of the existing Term Loan discussed above. The Partnership Notes bear interest at a rate of 7.375 percent per annum and mature on February 1, 2020. Interest on the Notes is payable semi-annually in cash in arrears on February 1 and August 1 of each year. The Partnership may redeem some or all of the Partnership Notes prior to February 1, 2016 by paying a make-whole premium. The Partnership may also redeem some or all of the Partnership Notes on or after February 1, 2016 at specified redemption prices. In addition, prior to February 1, 2016, the Partnership may redeem up to 35.0 percent of the Partnership Notes using the proceeds of certain equity offerings. If the Partnership sells certain of its assets or experiences specific kinds of changes in control, subject to certain exceptions, the Partnership must offer to purchase the Partnership Notes. | |
The Partnership Notes and Revolver agreements contain covenants that, among other things, limit the Partnership’s ability and the ability of certain of the Partnership’s subsidiaries to (i) incur indebtedness, (ii) pay dividends or make other distributions, (iii) prepay, redeem or repurchase certain debt, (iv) make loans and investments, (v) sell assets, (vi) incur liens, (vii) enter into transactions with affiliates and (viii) consolidate or merge. Additionally, in relation to the Revolver, the agreement contains covenants requiring a maximum consolidated leverage ratio and a minimum consolidated interest coverage ratio. These covenants are subject to a number of exceptions and qualifications set forth in the respective agreements. |
Commitments_and_Contingent_Lia
Commitments and Contingent Liabilities | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingent Liabilities | ' | ||||
15. Commitments and Contingent Liabilities | |||||
The aggregate amount of future minimum annual rentals applicable to noncancelable operating leases is as follows: | |||||
Minimum | |||||
Rental | |||||
Payments | |||||
(Dollars in millions) | |||||
Year ending December 31: | |||||
2014 | $ | 1.7 | |||
2015 | 1.2 | ||||
2016 | 0.5 | ||||
2017 | 0.1 | ||||
2018 | 0.1 | ||||
2019-Thereafter | 0.1 | ||||
Total | $ | 3.7 | |||
The EPA and state regulators have issued Notices of Violations (“NOVs”) for the Haverhill cokemaking facility which stem from alleged violations of air operating permits for this facility. SunCoke is currently working in a cooperative manner with the EPA to address the allegations and has lodged a consent degree in federal district court that is undergoing review. Settlement may require payment of a penalty for alleged past violations as well as the capital projects underway to improve the reliability of the energy recovery systems and enhance environmental performance at the Haverhill facility. Any potential penalties for alleged past violations will be paid by SunCoke. | |||||
Spending for these projects depends on the timing and finality of the settlement. We retained $67.0 million in proceeds from the Partnership offering for environmental capital expenditures related to these projects. Pursuant to the omnibus agreement, any amounts that we spend on these projects in excess of the $67.0 million will be reimbursed by SunCoke. Prior to our formation, SunCoke spent approximately $5 million related to these projects. The Partnership spent approximately $27 million during 2013 and expects to spend approximately $36 million and $11 million in 2014 and 2015, respectively. | |||||
The Southwest Ohio Air Quality Agency (SWOAQA) also issued an NOV to the Partnership’s Middletown facility on November 19, 2012. The Partnership responded to the NOV by providing a carbon injection plan requested by SWOAQA, and the Partnership has further updated that plan. At present, the Partnership cannot assess whether there will be a monetary penalty or any future citations, but any potential penalty will be paid by SunCoke, and we do not expect such a penalty or citations to be material to the financial position, results of operations or cash flows of the Partnership at December 31, 2013. | |||||
The Partnership is a party to certain other pending and threatened claims. Although the ultimate outcome of these claims cannot be ascertained at this time, it is reasonably possible that some portion of these claims could be resolved unfavorably to the Partnership. Management of the Partnership believes that any liability which may arise from claims would not be material in relation to the financial position, results of operations or cash flows of the Partnership at December 31, 2013. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Supplemental Cash Flow Information | ' | ||||||||
16. Supplemental Cash Flow Information | |||||||||
Significant non-cash activities were as follows: | |||||||||
Years Ended | |||||||||
2013 | 2012 | ||||||||
Predecessor | |||||||||
(Dollars in millions) | |||||||||
Net assets of the Predecessor not assumed by SunCoke Energy Partners, L.P.: | |||||||||
Accounts receivable | $ | 39.6 | $ | — | |||||
Deferred taxes | 18.3 | — | |||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |
Dec. 31, 2013 | ||
Fair Value Disclosures [Abstract] | ' | |
Fair Value Measurements | ' | |
17. Fair Value Measurements | ||
The Partnership measures certain financial and non-financial assets and liabilities at fair value on a recurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. Fair value disclosures are reflected in a three-level hierarchy, maximizing the use of observable inputs and minimizing the use of unobservable inputs. | ||
The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels are defined as follows: | ||
• | Level 1—inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market. | |
• | Level 2—inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market or model-derived valuations in which all significant inputs are observable for substantially the full term of the asset or liability. | |
• | Level 3—inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability. | |
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Certain assets and liabilities are measured at fair value on a recurring basis. The Partnership’s cash equivalents are measured at fair value based on quoted prices in active markets for identical assets. These inputs are classified as Level 1 within the valuation hierarchy. The Partnership had $12.0 million of cash equivalents at December 31, 2013 and no cash equivalents at December 31, 2012. | ||
Non-Financial Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | ||
Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the assets and liabilities are not measured at fair value on an ongoing basis, but are subject to fair value adjustments in certain circumstances (e.g., when there is evidence of impairment). At December 31, 2013, no material fair value adjustments or fair value measurements were required for these non-financial assets or liabilities. | ||
Certain Financial Assets and Liabilities not Measured at Fair Value | ||
At December 31, 2013 and 2012 the estimated fair value of the Partnership’s long-term debt was estimated to be $156.5 million and $225.3 million, respectively, compared to a carrying amount of $149.7 million and $225.0 million, respectively. The fair value was estimated by management based upon estimates of debt pricing provided by financial institutions and are considered Level 3 inputs. |
Business_Segment_Disclosures
Business Segment Disclosures | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Business Segment Disclosures | ' | ||||||||||||||||
18. Business Segment Information | |||||||||||||||||
The Partnership derives its revenues from the Domestic Coke and Coke Logistics reportable segments. Domestic Coke operations are comprised of cokemaking facilities, Haverhill and Middletown, located in Ohio. Both facilities use similar production processes to produce coke and to recover waste heat that is converted to steam or electricity. Coke sales at each of the Partnership's cokemaking facilities are made pursuant to long-term take-or-pay agreements with ArcelorMittal and AK Steel. Each of the coke sales agreements contain pass-through provisions for costs incurred in the cokemaking process, including coal procurement costs (subject to meeting contractual coal-to-coke yields), operating and maintenance expenses, costs related to the transportation of coke to the customers, taxes (other than income taxes) and costs associated with changes in regulation, in addition to containing a fixed fee. | |||||||||||||||||
Prior to the third quarter of 2013, Domestic Coke was the Partnership's only reportable segment. During 2013, the Partnership, through acquisition, began providing coal handling and blending services to both SunCoke cokemaking facilities as well as third party customers. This business has a collective capacity to blend and transload more than 30 million tons of coal annually. Coal blending and handling results are presented in the Coal Logistics segment below. | |||||||||||||||||
Corporate and other expenses that can be identified with a segment have been included in determining segment results. The remainder is included in Corporate and Other. Since the Partnership had only one reportable segment in 2012 and 2011, corporate and other expenses in those periods were included in Domestic Coke segment results. Interest expense, net is also excluded from segment results. Segment assets are those assets that are utilized within a specific segment. | |||||||||||||||||
The following table includes Adjusted EBITDA, which is the 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: | |||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||
(Dollars in millions) | |||||||||||||||||
Domestic Coke | Coal Logistics | Corporate | Consolidated | ||||||||||||||
and Other | |||||||||||||||||
Sales and other operating revenue | $ | 674.8 | $ | 12.5 | $ | — | $ | 687.3 | |||||||||
Intersegment sales | $ | — | $ | 1.1 | $ | — | $ | — | |||||||||
Adjusted EBITDA | $ | 157.3 | $ | 4.7 | $ | (6.8 | ) | $ | 155.2 | ||||||||
Depreciation, depletion and amortization | $ | 31.2 | $ | 1.8 | $ | — | $ | 33 | |||||||||
Capital expenditures | $ | 41.3 | $ | 0.2 | $ | — | $ | 41.5 | |||||||||
Total segment assets | $ | 884.2 | $ | 120.6 | $ | 22.7 | $ | 1,027.50 | |||||||||
The Partnership evaluates the performance of its segments based on segment Adjusted EBITDA, which is defined as earnings before interest, taxes, depreciation, depletion and amortization (“EBITDA”) adjusted for sales discounts. EBITDA reflects sales discounts included as a reduction in sales and other operating revenue. The sales discounts represent the sharing with customers of a portion of nonconventional fuel tax credits, which reduce our income tax expense. However, we believe our Adjusted EBITDA would be inappropriately penalized if these discounts were treated as a reduction of EBITDA since they represent sharing of a tax benefit that is not included in EBITDA. Accordingly, in computing Adjusted EBITDA, we have added back these sales discounts. EBITDA and Adjusted EBITDA do not represent and should not be considered alternatives to net income or operating income under GAAP and may not be comparable to other similarly titled measures in other businesses. | |||||||||||||||||
Management believes Adjusted EBITDA is an important measure of the operating performance of the Partnership's net assets and provides useful information to investors because it highlights trends in our business that may not otherwise be apparent when relying solely on GAAP measures and because it eliminates items that have less bearing on our operating performance. Adjusted EBITDA is a measure of operating performance that is not defined by GAAP, does not represent and should not be considered a substitute for net income as determined in accordance with GAAP. Calculations of Adjusted EBITDA may not be comparable to those reported by other companies. | |||||||||||||||||
Set forth below is additional detail as to how we use Adjusted EBITDA as a measure of operating performance, as well as a discussion of the limitations of Adjusted EBITDA as an analytical tool. | |||||||||||||||||
Operating Performance. Our management uses Adjusted EBITDA in a number of ways to assess our consolidated financial and operating performance, and we believe this measure is helpful to management in identifying trends in our performance. Adjusted EBITDA helps management identify controllable expenses and make decisions designed to help us meet our current financial goals and optimize our financial performance while neutralizing the impact of capital structure on financial results. Accordingly, we believe this metric measures our financial performance based on operational factors that management can impact in the short-term, namely our cost structure and expenses. | |||||||||||||||||
Limitations. Other companies may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure. Adjusted EBITDA also has limitations as an analytical tool and should not be considered in isolation or as a substitute for an analysis of our results as reported under GAAP. Some of these limitations include that Adjusted EBITDA: | |||||||||||||||||
• | does not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments; | ||||||||||||||||
• | does not reflect changes in, or cash requirement for, working capital needs; | ||||||||||||||||
• | does not reflect our interest expense, or the cash requirements necessary to service interest on or principal payments of our debt; | ||||||||||||||||
• | does not reflect certain other non-cash income and expenses; | ||||||||||||||||
• | excludes income taxes that may represent a reduction in available cash; and | ||||||||||||||||
• | includes net income attributable to noncontrolling interests. | ||||||||||||||||
Below is a reconciliation of Adjusted EBITDA (unaudited) to net income, which is its most directly comparable financial measure calculated and presented in accordance with GAAP: | |||||||||||||||||
Year Ended December 30, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Predecessor | Predecessor | ||||||||||||||||
(Dollars in millions) | |||||||||||||||||
Adjusted EBITDA attributable to Predecessor/SunCoke Energy Partners, L.P. | $ | 103.5 | $ | 127.4 | $ | 61.9 | |||||||||||
Add: Adjusted EBITDA attributable to noncontrolling interest (1) | 51.7 | — | — | ||||||||||||||
Adjusted EBITDA | $ | 155.2 | $ | 127.4 | $ | 61.9 | |||||||||||
Subtract: | |||||||||||||||||
Depreciation and amortization expense | 33 | 33.2 | 18.6 | ||||||||||||||
Interest expense, net | 15.4 | 10.3 | 4.7 | ||||||||||||||
Income tax expense | 4.5 | 24.4 | 2.8 | ||||||||||||||
Sales discounts provided to customers due to sharing of nonconventional | (0.6 | ) | 2.7 | 5 | |||||||||||||
fuel tax credits (2) | |||||||||||||||||
Net income | $ | 102.9 | $ | 56.8 | $ | 30.8 | |||||||||||
(1) Reflects net income attributable to noncontrolling interest adjusted for noncontrolling interest share of interest, taxes and depreciation. | |||||||||||||||||
(2) At December 31, 2012, we had $12.4 million in accrued sales discounts to be paid to a customer at our Haverhill facility. During the first quarter of 2013, we settled this obligation for $11.8 million which resulted in a gain of $0.6 million. This gain is recorded in sales and other operating revenue on our Combined and Consolidated Statement of Income. | |||||||||||||||||
The following table sets forth the Partnership’s total sales and other operating revenue by product or service: | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Predecessor | Predecessor | ||||||||||||||||
(Dollars in millions) | |||||||||||||||||
Cokemaking revenues | $ | 630.2 | $ | 698.8 | $ | 422 | |||||||||||
Energy revenues | 44.5 | 41.4 | 27.8 | ||||||||||||||
Coal logistics revenues | 11.3 | — | — | ||||||||||||||
Other revenues | 1.3 | — | — | ||||||||||||||
Total | $ | 687.3 | $ | 740.2 | $ | 449.8 | |||||||||||
Selected_Quarterly_Data
Selected Quarterly Data | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Income Statement [Abstract] | ' | |||||||||||||||||||||||||||||||
Selected Quarterly Data | ' | |||||||||||||||||||||||||||||||
19. Selected Quarterly Data (unaudited) | ||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
First | Second | Third | Fourth | First | Second | Third | Fourth | |||||||||||||||||||||||||
Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | |||||||||||||||||||||||||
Predecessor | ||||||||||||||||||||||||||||||||
(Dollars in millions, except per unit amounts) | ||||||||||||||||||||||||||||||||
Sales and other operating revenue | $ | 184.9 | $ | 167.7 | $ | 162 | $ | 172.7 | $ | 176.7 | $ | 182.1 | $ | 195.2 | $ | 186.2 | ||||||||||||||||
Gross profit(1) | $ | 38.9 | $ | 34.1 | $ | 34.8 | $ | 36.4 | $ | 25.4 | $ | 25.6 | $ | 32.2 | $ | 30.3 | ||||||||||||||||
Net income | $ | 23.9 | $ | 26.4 | $ | 24.5 | $ | 28.1 | $ | 12.4 | $ | 11.7 | $ | 17.4 | $ | 15.3 | ||||||||||||||||
Net income attributable to SunCoke Energy | $ | 11.8 | $ | 15.8 | $ | 13.7 | $ | 17.3 | * | * | * | * | ||||||||||||||||||||
Partners, L.P. subsequent to initial public | ||||||||||||||||||||||||||||||||
offering | ||||||||||||||||||||||||||||||||
Net income per common unit (basic and diluted) | $ | 0.37 | $ | 0.49 | $ | 0.43 | $ | 0.53 | * | * | * | * | ||||||||||||||||||||
Net income per subordinated unit (basic and | $ | 0.37 | $ | 0.49 | $ | 0.43 | $ | 0.53 | * | * | * | * | ||||||||||||||||||||
diluted) | ||||||||||||||||||||||||||||||||
-1 | Gross profit equals sales and other operating revenue less cost of products sold, operating expenses and depreciation and amortization. | |||||||||||||||||||||||||||||||
* Not applicable |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in the Combined and Consolidated Financial Statements and accompanying notes. Actual amounts could differ from these estimates. | |
Revenue Recognition | ' |
Revenue Recognition | |
The Partnership sells coke as well as steam and electricity and also provides coal blending and handling services to third-party customers. Revenues related to the sale of products are recognized when title passes, while service revenues are recognized when services are provided as defined by customer contracts. Revenues are not recognized until sales prices are fixed or determinable and collectability is reasonably assured. | |
Substantially all of the coke produced by the Partnership is sold pursuant to long-term contracts with its customers. The Partnership evaluates each of its contracts to determine whether the arrangement contains a lease under the applicable accounting standards. If the specific facts and circumstances indicate that it is remote that parties other than the contracted customer will take more than a minor amount of the coke that will be produced by the property, plant and equipment during the term of the coke supply agreement, and the price that the customer is paying for the coke is neither contractually fixed per unit nor equal to the current market price per unit at the time of delivery, then the long-term contract is deemed to contain a lease. The lease component of the price of coke represents the rental payment for the use of the property, plant and equipment, and all such payments are accounted for as contingent rentals as they are only earned by the Partnership when the coke is delivered and title passes to the customer. | |
Cash Equivalents | ' |
Cash Equivalents | |
The Company considers all highly liquid investments with a remaining maturity of three months or less at the time of purchase to be cash equivalents. These cash equivalents consist principally of time deposits and money market investments. | |
Inventories | ' |
Inventories | |
Inventories are valued at the lower of cost or market. Cost is determined using the first-in, first-out method, except for materials and supplies inventory, which are determined using the average-cost method. | |
The Partnership utilizes the selling prices under its long-term coke supply contracts to record lower of cost or market inventory adjustments. | |
Property, Plant and Equipment, Net | ' |
Properties, Plants and Equipment, Net | |
Plants and equipment are depreciated on a straight-line basis over their estimated useful lives. Coke and energy plant, machinery and equipment are depreciated over 25 to 30 years. Coal logistics plant and equipment are depreciated over 15 to 20 years. Depreciation is excluded from cost of products sold and operating expenses and is presented separately in the Combined and Consolidated Statements of Income. Gains and losses on the disposal or retirement of fixed assets are reflected in earnings when the assets are sold or retired. | |
Amounts incurred that extend an asset’s useful life, increase its productivity or add production capacity are capitalized. Direct costs, such as outside labor, materials, internal payroll and benefits costs, incurred during the construction of a new facility are capitalized; indirect costs are not capitalized. Normal repairs and maintenance costs are expensed as incurred. | |
Impairment of Long-Lived Assets | ' |
Impairment of Long-Lived Assets | |
Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. An asset, or group of assets, is considered to be impaired when the undiscounted estimated net cash flows expected to be generated by the asset, or group of assets, are less than its carrying amount. The impairment recognized is the amount by which the carrying amount exceeds the fair market value of the impaired asset, or group of assets. | |
Goodwill and Intangibles | ' |
Goodwill and Other Intangibles | |
Goodwill, which represents the excess of the purchase price over the fair value of net assets acquired, is tested for impairment at least annually during the fourth quarter. All other intangible assets have finite useful lives and are amortized over their useful lives in a manner that reflects the pattern in which the economic benefit of the intangible asset is consumed. There was no impairment of goodwill or other intangibles during the periods presented. See Note 11. | |
Shipping and Handling Costs | ' |
Shipping and Handling Costs | |
Shipping and handling costs are included in cost of products sold and operating expenses. | |
Fair Value Measurements | ' |
Fair Value Measurements | |
The Partnership determines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As required, the Partnership utilizes valuation techniques that maximize the use of observable inputs (levels 1 and 2) and minimize the use of unobservable inputs (level 3) within the fair value hierarchy included in current accounting guidance. The Partnership generally applies the “market approach” to determine fair value. This method uses pricing and other information generated by market transactions for identical or comparable assets and liabilities. Assets and liabilities are classified within the fair value hierarchy based on the lowest level (least observable) input that is significant to the measurement in its entirety. | |
Recently Issued Pronouncements | ' |
Recently Issued Pronouncements | |
There are no recently issued accounting standards which are not yet effective that the Partnership believes would materially impact its Combined and Consolidated Financial Statements. |
Acquisition_Tables
Acquisition (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Business Combinations [Abstract] | ' | |||
Schedule of Purchase Price Allocation | ' | |||
The following table summarizes the consideration paid for KRT and the fair value of assets acquired and liabilities assumed at the acquisition date (dollars in millions): | ||||
Consideration: | ||||
Cash | $ | 84.7 | ||
Recognized amounts of identifiable assets acquired and liabilities assumed: | ||||
Current assets | $ | 5.2 | ||
Plant, property and equipment | 67.2 | |||
Intangible assets | 7.9 | |||
Current liabilities | (3.7 | ) | ||
Other long-term liabilities | (0.1 | ) | ||
Total identifiable net assets assumed | 76.5 | |||
Goodwill | 8.2 | |||
Total | $ | 84.7 | ||
The following table summarizes the consideration paid for Lake Terminal and the fair value of the assets acquired at the acquisition date (dollars in millions): | ||||
Consideration: | ||||
Cash | $ | 28.6 | ||
Recognized amounts of identifiable assets acquired and liabilities assumed: | ||||
Plant, property and equipment | 25.9 | |||
Inventory | 2.7 | |||
Total | $ | 28.6 | ||
Net_Income_Per_Unit_and_Cash_D1
Net Income Per Unit and Cash Distributions (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of Disaggregated Net Income | ' | |||||||||||||||
The following is a summary of net income for the year ended December 31, 2013 disaggregated between the Predecessor and the Partnership: | ||||||||||||||||
SunCoke Energy Partners, L.P. | SunCoke Energy Partners, L.P. | 31-Dec-13 | ||||||||||||||
Predecessor | ||||||||||||||||
Through | From | |||||||||||||||
23-Jan-13 | 24-Jan-13 | |||||||||||||||
(Dollars in millions) | ||||||||||||||||
Revenues | ||||||||||||||||
Sales and other operating revenue | $ | 47.6 | $ | 639.7 | $ | 687.3 | ||||||||||
Costs and operating expenses | ||||||||||||||||
Cost of products sold and operating expenses | 36.8 | 473.3 | 510.1 | |||||||||||||
Selling, general and administrative expenses | 1.1 | 20.3 | 21.4 | |||||||||||||
Depreciation and amortization expense | 1.9 | 31.1 | 33 | |||||||||||||
Total costs and operating expenses | 39.8 | 524.7 | 564.5 | |||||||||||||
Operating income | 7.8 | 115 | 122.8 | |||||||||||||
Interest expense, net | 0.6 | 14.8 | 15.4 | |||||||||||||
Income before income tax expense | 7.2 | 100.2 | 107.4 | |||||||||||||
Income tax expense | 3.7 | 0.8 | 4.5 | |||||||||||||
Net income | $ | 3.5 | $ | 99.4 | $ | 102.9 | ||||||||||
Schedule of Calculation of Numerator and Denominator in Earnings Per Share | ' | |||||||||||||||
The calculation of net income per unit is as follows: | ||||||||||||||||
31-Dec-13 | ||||||||||||||||
(Dollars and units in millions, except per unit amounts) | ||||||||||||||||
Net income attributable to SunCoke Energy Partners, L.P. subsequent to initial public offering | $ | 58.6 | ||||||||||||||
Less: General partner's interest in net income subsequent to initial public offering | 1.6 | |||||||||||||||
Limited partners' interest in net income subsequent to initial public offering | $ | 57 | ||||||||||||||
Net income per limited partner unit: | ||||||||||||||||
Common - Public and SunCoke | $ | 1.81 | ||||||||||||||
Subordinated - SunCoke | $ | 1.81 | ||||||||||||||
Limited partner units outstanding: | ||||||||||||||||
Common units - Public | 13.5 | |||||||||||||||
Common units - SunCoke | 2.2 | |||||||||||||||
Subordinated units - SunCoke | 15.7 | |||||||||||||||
Schedule of Distributions Made to Members or Limited Partners, by Distribution | ' | |||||||||||||||
The calculation of net income allocated to the limited partners was as follows: | ||||||||||||||||
31-Dec-13 | ||||||||||||||||
(Dollars in millions) | ||||||||||||||||
Net Income Attributable to Common Unitholders: | ||||||||||||||||
Distributions | $ | 25.6 | ||||||||||||||
Undistributed earnings | 2.9 | |||||||||||||||
Common unitholders' interest in net income subsequent to initial public offering | $ | 28.5 | ||||||||||||||
Net Income Attributable to Subordinated Unitholders: | ||||||||||||||||
Distributions | $ | 25.6 | ||||||||||||||
Undistributed earnings | 2.9 | |||||||||||||||
Subordinated unitholders' interest in net income subsequent to initial public offering | $ | 28.5 | ||||||||||||||
Distributions declared per unit | $ | 1.6371 | ||||||||||||||
If cash distributions to our unitholders exceed $0.474375 per unit in any quarter, our unitholders and our general partner will receive distributions according to the following percentage allocations: | ||||||||||||||||
Total Quarterly Distribution Per Unit Amount | Marginal Percentage | |||||||||||||||
Interest in Distributions | ||||||||||||||||
Unitholders | General Partner | |||||||||||||||
Minimum Quarterly Distribution | $0.41 | 98 | % | 2 | % | |||||||||||
First Target Distribution | above $0.412500 | up to $0.474375 | 98 | % | 2 | % | ||||||||||
Second Target Distribution | above $0.474375 | up to $0.515625 | 85 | % | 15 | % | ||||||||||
Third Target Distribution | above $0.515625 | up to $0.618750 | 75 | % | 25 | % | ||||||||||
Thereafter | above $0.681750 | 50 | % | 50 | % | |||||||||||
Our distributions are declared subsequent to quarter end; therefore, the table below represents total cash distributions applicable to the period in which the distributions were earned: | ||||||||||||||||
Three Months Ended March 31, 2013 | Three Months Ended June 30, 2013 | Three Months Ended September 30, | Three Months Ended December 31, | |||||||||||||
2013 | 2013 | |||||||||||||||
(Dollars in millions, except per unit amounts) | ||||||||||||||||
General partner's distribution: | ||||||||||||||||
General partner's interest | $ | 0.2 | $ | 0.3 | $ | 0.3 | $ | 0.4 | ||||||||
General partner's incentive distribution | — | — | — | — | ||||||||||||
Total general partner's distribution | $ | 0.2 | $ | 0.3 | $ | 0.3 | $ | 0.4 | ||||||||
Limited partners' distribution: | ||||||||||||||||
Common | $ | 4.8 | $ | 6.6 | $ | 6.8 | $ | 7.4 | ||||||||
Subordinated | 4.8 | 6.6 | 6.8 | 7.4 | ||||||||||||
Total limited partner's distribution | $ | 9.6 | $ | 13.2 | $ | 13.6 | $ | 14.8 | ||||||||
Total cash distributions | $ | 9.8 | $ | 13.5 | $ | 13.9 | $ | 15.2 | ||||||||
Cash distributions per unit applicable | $ | 0.3071 | $ | 0.4225 | $ | 0.4325 | $ | 0.475 | ||||||||
to limited partners |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) | ' | ||||||||||||||||||||||||||||
The components of income tax disaggregated between the Predecessor and Partnership are as follows: | |||||||||||||||||||||||||||||
Partnership | Predecessor | ||||||||||||||||||||||||||||
Period from January 24, 2013 to December 31, 2013 | Period from January 1, 2013 to January 23, 2013 | Years Ended December 31, | |||||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||||||
(Dollars in millions) | |||||||||||||||||||||||||||||
Income Tax: | |||||||||||||||||||||||||||||
U.S. federal | $ | — | $ | 2.5 | $ | 24.4 | $ | 2.8 | |||||||||||||||||||||
U.S. state and local | $ | 0.8 | $ | 1.2 | $ | — | $ | — | |||||||||||||||||||||
Total | $ | 0.8 | $ | 3.7 | $ | 24.4 | $ | 2.8 | |||||||||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | ||||||||||||||||||||||||||||
The reconciliation of income tax expense at the U.S. statutory rate to the income tax expense disaggregated between the Predecessor and Partnership is as follows: | |||||||||||||||||||||||||||||
Partnership | Predecessor | ||||||||||||||||||||||||||||
Period from | Period from | Years Ended December 31, | |||||||||||||||||||||||||||
January 24, 2013 to December 31, 2013 | January 1, 2013 to January 23, 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(Dollars in millions | |||||||||||||||||||||||||||||
Income tax expense at U.S. statutory rate of 35 percent | $ | 35.1 | 35 | % | $ | 2.5 | 35 | % | $ | 28.4 | 35 | % | $ | 11.8 | 35 | % | |||||||||||||
Increase (reduction) in income taxes | |||||||||||||||||||||||||||||
resulting from: | |||||||||||||||||||||||||||||
Nonconventional fuel credit | — | — | % | — | — | % | (4.8 | ) | (6.0 | )% | (9.1 | ) | (27.0 | )% | |||||||||||||||
Partnership income not subject to tax | (35.1 | ) | (35.0 | )% | — | — | % | — | — | % | — | — | % | ||||||||||||||||
Local tax for Middletown operations | 0.5 | 0.5 | % | 0.6 | 8.3 | % | — | — | % | — | — | % | |||||||||||||||||
Other | 0.3 | 0.3 | % | 0.6 | 8.3 | % | 0.8 | 1 | % | 0.1 | 0.3 | % | |||||||||||||||||
$ | 0.8 | 0.8 | % | $ | 3.7 | 51.6 | % | $ | 24.4 | 30 | % | $ | 2.8 | 8.3 | % | ||||||||||||||
Schedule of Deferred Tax Assets and Liabilities | ' | ||||||||||||||||||||||||||||
The tax effects of temporary differences that comprise the net deferred income tax asset are as follows: | |||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(Dollars in millions) | |||||||||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||||||
Nonconventional fuel credit carryforward | $ | — | $ | 64.5 | |||||||||||||||||||||||||
Federal net operating loss | — | 139.5 | |||||||||||||||||||||||||||
Local net operating loss | 3.2 | — | |||||||||||||||||||||||||||
Other liabilities not yet deductible | — | 4.3 | |||||||||||||||||||||||||||
Total deferred tax assets | 3.2 | 208.3 | |||||||||||||||||||||||||||
Less valuation allowance | (0.3 | ) | — | ||||||||||||||||||||||||||
Deferred tax asset, net | 2.9 | 208.3 | |||||||||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||||||||||
Properties, plants and equipment | (4.9 | ) | (186.9 | ) | |||||||||||||||||||||||||
Total deferred tax liabilities | (4.9 | ) | (186.9 | ) | |||||||||||||||||||||||||
Net deferred tax (liability) asset | $ | (2.0 | ) | $ | 21.4 | ||||||||||||||||||||||||
The net deferred income tax liability is classified in the Combined and Consolidated Balance Sheets as follows: | |||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(Dollars in millions) | |||||||||||||||||||||||||||||
Current asset | $ | 0.8 | $ | — | |||||||||||||||||||||||||
Noncurrent (liability) asset | (2.8 | ) | 21.4 | ||||||||||||||||||||||||||
Net deferred tax (liability) asset | $ | (2.0 | ) | $ | 21.4 | ||||||||||||||||||||||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Schedule of Inventories | ' | |||||||
These components of inventories were as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(Dollars in millions) | ||||||||
Coal | $ | 33.1 | $ | 41.6 | ||||
Coke | 4.1 | 5.9 | ||||||
Material, supplies, and other | 22.1 | 15.7 | ||||||
Total Inventories | $ | 59.3 | $ | 63.2 | ||||
Properties_Plants_and_Equipmen1
Properties, Plants, and Equipment, Net (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment | ' | |||||||
The components of net properties, plants and equipment were as follows: | ||||||||
December 31, (1) | ||||||||
2013 | 2012 | |||||||
(Dollars in millions) | ||||||||
Coke and energy plant, machinery and equipment | $ | 836.8 | $ | 823.5 | ||||
Coal logistics plant, machinery and equipment | 82.6 | — | ||||||
Land and land improvements | 44.3 | 34.2 | ||||||
Construction-in-progress | 36.3 | 9.6 | ||||||
Other | 1.6 | 0.5 | ||||||
Gross investment, at cost | 1,001.60 | 867.8 | ||||||
Less: accumulated depreciation | (130.5 | ) | (99.1 | ) | ||||
Total Properties, Plant and Equipment, net | $ | 871.1 | $ | 768.7 | ||||
-1 | Includes assets, consisting mainly of coke and energy plant, machinery and equipment, with a gross investment totaling $418.4 million and $414.6 million and accumulated depreciation of $29.0 million and $15.0 million at December 31, 2013 and December 31, 2012, respectively, which are subject to long-term contracts to sell coke and are deemed to contain operating leases. |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||
Schedule of Finite-Lived Intangible Assets | ' | ||||||||||||||
The components of definite-lived intangible assets were as follows (in millions): | |||||||||||||||
December 31, 2013 | |||||||||||||||
Weighted - Average Remaining Amortization | Gross Carrying Amount | Accumulated Amortization | Net | ||||||||||||
Customer relationships | 11 | $ | 6.7 | $ | 0.1 | $ | 6.6 | ||||||||
Trade name | 5 | 1.2 | — | 1.2 | |||||||||||
Total | $ | 7.9 | $ | 0.1 | $ | 7.8 | |||||||||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Liabilities Disclosure [Abstract] | ' | |||||||
Schedule of Accrued Liabilities | ' | |||||||
Accrued liabilities consisted of following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(Dollars in millions) | ||||||||
Accrued sales discounts | $ | — | $ | 12.4 | ||||
Accrued benefits | 4.2 | 1.9 | ||||||
Other | 2.2 | 2.7 | ||||||
Total | $ | 6.4 | $ | 17 | ||||
Commitments_and_Contingent_Lia1
Commitments and Contingent Liabilities Future Minimum Rentals (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments for Operating Leases | ' | ||||
The aggregate amount of future minimum annual rentals applicable to noncancelable operating leases is as follows: | |||||
Minimum | |||||
Rental | |||||
Payments | |||||
(Dollars in millions) | |||||
Year ending December 31: | |||||
2014 | $ | 1.7 | |||
2015 | 1.2 | ||||
2016 | 0.5 | ||||
2017 | 0.1 | ||||
2018 | 0.1 | ||||
2019-Thereafter | 0.1 | ||||
Total | $ | 3.7 | |||
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Schedule of Cash Flow, Supplemental Disclosures | ' | ||||||||
Significant non-cash activities were as follows: | |||||||||
Years Ended | |||||||||
2013 | 2012 | ||||||||
Predecessor | |||||||||
(Dollars in millions) | |||||||||
Net assets of the Predecessor not assumed by SunCoke Energy Partners, L.P.: | |||||||||
Accounts receivable | $ | 39.6 | $ | — | |||||
Deferred taxes | 18.3 | — | |||||||
Business_Segment_Disclosures_T
Business Segment Disclosures (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | ||||||||||||||||
Below is a reconciliation of Adjusted EBITDA (unaudited) to net income, which is its most directly comparable financial measure calculated and presented in accordance with GAAP: | |||||||||||||||||
Year Ended December 30, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Predecessor | Predecessor | ||||||||||||||||
(Dollars in millions) | |||||||||||||||||
Adjusted EBITDA attributable to Predecessor/SunCoke Energy Partners, L.P. | $ | 103.5 | $ | 127.4 | $ | 61.9 | |||||||||||
Add: Adjusted EBITDA attributable to noncontrolling interest (1) | 51.7 | — | — | ||||||||||||||
Adjusted EBITDA | $ | 155.2 | $ | 127.4 | $ | 61.9 | |||||||||||
Subtract: | |||||||||||||||||
Depreciation and amortization expense | 33 | 33.2 | 18.6 | ||||||||||||||
Interest expense, net | 15.4 | 10.3 | 4.7 | ||||||||||||||
Income tax expense | 4.5 | 24.4 | 2.8 | ||||||||||||||
Sales discounts provided to customers due to sharing of nonconventional | (0.6 | ) | 2.7 | 5 | |||||||||||||
fuel tax credits (2) | |||||||||||||||||
Net income | $ | 102.9 | $ | 56.8 | $ | 30.8 | |||||||||||
(1) Reflects net income attributable to noncontrolling interest adjusted for noncontrolling interest share of interest, taxes and depreciation. | |||||||||||||||||
(2) At December 31, 2012, we had $12.4 million in accrued sales discounts to be paid to a customer at our Haverhill facility. During the first quarter of 2013, we settled this obligation for $11.8 million which resulted in a gain of $0.6 million. This gain is recorded in sales and other operating revenue on our Combined and Consolidated Statement of Income. | |||||||||||||||||
The following table includes Adjusted EBITDA, which is the 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: | |||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||
(Dollars in millions) | |||||||||||||||||
Domestic Coke | Coal Logistics | Corporate | Consolidated | ||||||||||||||
and Other | |||||||||||||||||
Sales and other operating revenue | $ | 674.8 | $ | 12.5 | $ | — | $ | 687.3 | |||||||||
Intersegment sales | $ | — | $ | 1.1 | $ | — | $ | — | |||||||||
Adjusted EBITDA | $ | 157.3 | $ | 4.7 | $ | (6.8 | ) | $ | 155.2 | ||||||||
Depreciation, depletion and amortization | $ | 31.2 | $ | 1.8 | $ | — | $ | 33 | |||||||||
Capital expenditures | $ | 41.3 | $ | 0.2 | $ | — | $ | 41.5 | |||||||||
Total segment assets | $ | 884.2 | $ | 120.6 | $ | 22.7 | $ | 1,027.50 | |||||||||
Reconciliation of Revenue from Segments to Consolidated | ' | ||||||||||||||||
The following table sets forth the Partnership’s total sales and other operating revenue by product or service: | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Predecessor | Predecessor | ||||||||||||||||
(Dollars in millions) | |||||||||||||||||
Cokemaking revenues | $ | 630.2 | $ | 698.8 | $ | 422 | |||||||||||
Energy revenues | 44.5 | 41.4 | 27.8 | ||||||||||||||
Coal logistics revenues | 11.3 | — | — | ||||||||||||||
Other revenues | 1.3 | — | — | ||||||||||||||
Total | $ | 687.3 | $ | 740.2 | $ | 449.8 | |||||||||||
Selected_Quartelry_Data_Tables
Selected Quartelry Data (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Income Statement [Abstract] | ' | |||||||||||||||||||||||||||||||
Schedule of Quarterly Financial Information | ' | |||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
First | Second | Third | Fourth | First | Second | Third | Fourth | |||||||||||||||||||||||||
Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | |||||||||||||||||||||||||
Predecessor | ||||||||||||||||||||||||||||||||
(Dollars in millions, except per unit amounts) | ||||||||||||||||||||||||||||||||
Sales and other operating revenue | $ | 184.9 | $ | 167.7 | $ | 162 | $ | 172.7 | $ | 176.7 | $ | 182.1 | $ | 195.2 | $ | 186.2 | ||||||||||||||||
Gross profit(1) | $ | 38.9 | $ | 34.1 | $ | 34.8 | $ | 36.4 | $ | 25.4 | $ | 25.6 | $ | 32.2 | $ | 30.3 | ||||||||||||||||
Net income | $ | 23.9 | $ | 26.4 | $ | 24.5 | $ | 28.1 | $ | 12.4 | $ | 11.7 | $ | 17.4 | $ | 15.3 | ||||||||||||||||
Net income attributable to SunCoke Energy | $ | 11.8 | $ | 15.8 | $ | 13.7 | $ | 17.3 | * | * | * | * | ||||||||||||||||||||
Partners, L.P. subsequent to initial public | ||||||||||||||||||||||||||||||||
offering | ||||||||||||||||||||||||||||||||
Net income per common unit (basic and diluted) | $ | 0.37 | $ | 0.49 | $ | 0.43 | $ | 0.53 | * | * | * | * | ||||||||||||||||||||
Net income per subordinated unit (basic and | $ | 0.37 | $ | 0.49 | $ | 0.43 | $ | 0.53 | * | * | * | * | ||||||||||||||||||||
diluted) | ||||||||||||||||||||||||||||||||
-1 | Gross profit equals sales and other operating revenue less cost of products sold, operating expenses and depreciation and amortization. | |||||||||||||||||||||||||||||||
* Not applicable |
General_Details
General (Details) (USD $) | 0 Months Ended | ||||
In Millions, unless otherwise specified | Jul. 26, 2011 | Jan. 23, 2013 | Jan. 23, 2013 | Jan. 23, 2013 | Jan. 23, 2013 |
SunCoke Energy Inc | IPO | IPO | IPO | IPO | |
Term Loans | SunCoke Energy Inc | General Partner | Haverhill Coke Company LLC and Middletown Coke Company LLC | Haverhill Coke Company LLC and Middletown Coke Company LLC | |
SunCoke Energy Inc | |||||
Subsidiary of Limited Liability Company or Limited Partnership [Line Items] | ' | ' | ' | ' | ' |
Interest in Partnership (as a percent) | ' | 55.90% | ' | 65.00% | 35.00% |
Limited Partnership (LP) ownership interest (as a percent) | ' | ' | 2.00% | ' | ' |
Allocated debt and related debt issuance costs | $225 | ' | ' | ' | ' |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Number of employees | 431 |
United Steelworkers Union | ' |
Percentage of employees represented by the United Steelworkers | 34.00% |
International Union of Operating Engineers [Member] | ' |
Percentage of employees represented by the United Steelworkers | 6.00% |
Coke and energy plant, machinery and equipment | Minimum | ' |
Plant, machinery and equipment useful lives (in years) | '25 years |
Coke and energy plant, machinery and equipment | Maximum | ' |
Plant, machinery and equipment useful lives (in years) | '30 years |
Coal logistics plant, machinery and equipment | Minimum | ' |
Plant, machinery and equipment useful lives (in years) | '15 years |
Coal logistics plant, machinery and equipment | Maximum | ' |
Plant, machinery and equipment useful lives (in years) | '20 years |
Initial_Public_Offering_Detail
Initial Public Offering (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||
Jul. 26, 2011 | Jan. 23, 2013 | Dec. 31, 2012 | Jan. 23, 2013 | Jan. 23, 2013 | Jan. 23, 2013 | Aug. 28, 2013 | Jan. 23, 2013 | Jan. 23, 2013 | Jan. 23, 2013 | Dec. 31, 2013 | Jan. 23, 2013 | Jan. 23, 2013 | Jan. 23, 2013 | Jan. 23, 2013 | Jan. 23, 2013 | Dec. 31, 2013 | Jan. 23, 2013 | Dec. 31, 2013 | ||
Term Loans | IPO | IPO | IPO | IPO | IPO | IPO | IPO | IPO | IPO | IPO | IPO | IPO | IPO | IPO | IPO | IPO | IPO | Successor | ||
Term Loans | Senior Notes, Due 2020 | Senior Notes | Revolving Credit Facility | Revolving Credit Facility | Haverhill | General Partner | Sun Coal & Coke | Public | SunCoke Energy Inc | Common Units | Subordinated Units | Haverhill Coke Company LLC and Middletown Coke Company LLC | Haverhill Coke Company LLC and Middletown Coke Company LLC | Haverhill Coke Company LLC and Middletown Coke Company LLC | ||||||
Sun Coal & Coke | Sun Coal & Coke | SunCoke Energy Inc | ||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Interest in Partnership (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | 55.90% | ' | ' | 65.00% | ' | 35.00% | ' | |
Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $40,800,000 | |
Limited Partnership (LP) ownership interest (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Common units issued during the period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,500,000 | ' | 2,209,697 | 15,709,697 | ' | ' | ' | ' | |
Partnership interest (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42.10% | ' | ' | ' | ' | ' | ' | ' | |
Initial public offering price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $19 | ' | ' | ' | ' | ' | ' | ' | |
Gross proceeds from the offering | ' | 256,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 231,800,000 | |
Net proceeds from the offering, after deducting underwriting discounts and offering expenses | ' | 231,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Underwriting discounts and offering expenses | ' | 24,700,000 | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Long-term debt assumed and repaid | ' | ' | ' | 225,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 225,000,000 | |
Environmental capital expenditures retained | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67,000,000 | 67,000,000 | ' | ' | |
Sales discounts related to tax credits owed to customers | ' | ' | ' | ' | ' | ' | ' | ' | 12,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -600,000 | [1] |
Proceeds retained to replenish working capital | ' | 39,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
General Partner distributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33,100,000 | ' | ' | ' | ' | ' | ' | |
Partnership notes issued | ' | ' | ' | ' | 150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Interest rate on partnership notes (as a percent) | ' | ' | ' | ' | 7.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Proceeds from issuance of notes, net of debt issuance costs | ' | ' | ' | ' | ' | 146,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Debt issuance cost | $5,700,000 | ' | ' | ' | ' | $3,700,000 | $900,000 | $2,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] | At December 31, 2012, we had $12.4 million in accrued sales discounts to be paid to a customer at our Haverhill facility. During the first quarter of 2013, we settled this obligation for $11.8 million which resulted in a gain of $0.6 million. This gain is recorded in sales and other operating revenue on our Combined and Consolidated Statement of Income. |
Initial_Public_Offering_Omnibu
Initial Public Offering (Omnibus Agreement) (Details) (USD $) | 0 Months Ended | 12 Months Ended |
Jan. 23, 2013 | Dec. 31, 2013 | |
Coke Agreement Counterparties | IPO | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Potential defaults by coke agreement counterparties indemnification period (in years) | ' | '5 years |
Haverhill Coke Company LLC and Middletown Coke Company LLC | IPO | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Environmental indemnity contribution expense | $67,000,000 | $67,000,000 |
Environmental remediation expense carried by SunCoke Energy Partners L.P. | 5,000,000 | ' |
Haverhill Coke Company LLC and Middletown Coke Company LLC | SunCoke Energy Inc | IPO | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Environmental remediation expense indemnified by SunCoke | 50,000,000 | ' |
Successor | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Capital contribution from SunCoke Energy Partners GP LLC | ' | $900,000 |
Acquisition_Details
Acquisition (Details) (USD $) | 1 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2013 | Aug. 30, 2013 | |
Business Acquisition [Line Items] | ' | ' | ' |
Coal handling capacity (in tons) | ' | 30,000,000 | ' |
Intersegment sales | ' | $0 | ' |
Operating income | ' | 122,800,000 | ' |
Kanawha River Terminals LLC | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Purchase price | 84,700,000 | ' | ' |
Purchase price, cash | 44,700,000 | ' | ' |
Purchase price, borrowings | 40,000,000 | ' | ' |
Coal handling capacity (in tons) | ' | 30,000,000 | ' |
Goodwill | 8,200,000 | ' | ' |
Intersegment sales | ' | 1,100,000 | ' |
Revenues | ' | 9,000,000 | ' |
Operating income | ' | 1,000,000 | ' |
SunCoke Lake Terminal LLC | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Purchase price | ' | ' | 28,600,000 |
Purchase price, cash | ' | ' | 28,600,000 |
Revenues | ' | 4,600,000 | ' |
Operating income | ' | 1,900,000 | ' |
Option to purchase entity | ' | ' | $1,800,000 |
Percentage interest owned (as a percent) | ' | ' | 15.00% |
Term of contract (in years) | '10 years | ' | ' |
Acquisition_Purchase_Price_All
Acquisition (Purchase Price Allocation SunCoke Terminal) (Details) (SunCoke Lake Terminal LLC, USD $) | Aug. 30, 2013 |
In Millions, unless otherwise specified | |
SunCoke Lake Terminal LLC | ' |
Business Acquisition [Line Items] | ' |
Cash | $28.60 |
Plant, property and equipment | 25.9 |
Inventory | 2.7 |
Total | $28.60 |
Acquisition_Purchase_Price_All1
Acquisition (Purchase Price Allocation KRT) (Details) (Kanawha River Terminals LLC, USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Kanawha River Terminals LLC | ' |
Business Acquisition [Line Items] | ' |
Cash | $84.70 |
Current assets | 5.2 |
Plant, property and equipment | 67.2 |
Intangible assets | 7.9 |
Current liabilities | -3.7 |
Other long-term liabilities | -0.1 |
Total identifiable net assets assumed | 76.5 |
Goodwill | 8.2 |
Total | $84.70 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Related Party Transaction [Line Items] | ' | ' | ' |
Allocated expenses | $16.70 | $20.80 | $16.50 |
Coal logistics revenues | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Revenues | 4.4 | ' | ' |
Other SunCoke Entities to Satisfy Commercial Agreements | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Revenues | 19.2 | ' | ' |
Purchases | 6 | ' | ' |
Other SunCoke Entities | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Accounts receivable | 6.4 | ' | ' |
Purchases | 18.1 | ' | ' |
Sunoco's Chemical Business | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Revenues | ' | ' | $7.70 |
Customer_Concentrations_Detail
Customer Concentrations (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Concentration Risk [Line Items] | ' | ' | ' |
Coke sales | $687.30 | ' | ' |
Customer Concentration Risk [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Tons of coke sold | 1,800,000 | ' | ' |
Customer Concentration Risk [Member] | AK Steel Corporation and Arcelor Mittal USA, Inc. | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Number of primary customers | 2 | ' | ' |
Customer Concentration Risk [Member] | ArcelorMittal USA, Inc | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Receivables due from customers | 7 | ' | ' |
Coke sales | 178.8 | 207.3 | 206.8 |
Customer Concentration Risk [Member] | AK Steel Corporation | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Receivables due from customers | 8.9 | ' | ' |
Coke sales | $460.50 | $510.90 | $215.20 |
Sales revenue | Customer Concentration Risk [Member] | ArcelorMittal USA, Inc | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Revenue from primary customers as a percentage of total revenue (as a percent) | 26.00% | 28.00% | 46.00% |
Sales revenue | Customer Concentration Risk [Member] | AK Steel Corporation | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Revenue from primary customers as a percentage of total revenue (as a percent) | 67.00% | 69.00% | 48.00% |
Net_Income_Per_Unit_and_Cash_D2
Net Income Per Unit and Cash Distributions (Details) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 11 Months Ended | 12 Months Ended | |||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Jan. 23, 2013 | Jan. 23, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
IPO | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Successor | Successor | Successor | Successor | Successor | Successor | ||
General Partner | |||||||||||||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales and other operating revenue | $687.30 | ' | $47.60 | $186.20 | $195.20 | $182.10 | $176.70 | $740.20 | $449.80 | $172.70 | $162 | $167.70 | $184.90 | $639.70 | $687.30 |
Costs and operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of products sold and operating expenses | 510.1 | ' | 36.8 | ' | ' | ' | ' | 593.5 | 367.2 | ' | ' | ' | ' | 473.3 | 510.1 |
Selling, general and administrative expenses | 21.4 | ' | 1.1 | ' | ' | ' | ' | 22 | 25.7 | ' | ' | ' | ' | 20.3 | 21.4 |
Depreciation and amortization expense | 33 | ' | 1.9 | ' | ' | ' | ' | 33.2 | 18.6 | ' | ' | ' | ' | 31.1 | 33 |
Total costs and operating expenses | 564.5 | ' | 39.8 | ' | ' | ' | ' | 648.7 | 411.5 | ' | ' | ' | ' | 524.7 | 564.5 |
Operating income | 122.8 | ' | 7.8 | ' | ' | ' | ' | 91.5 | 38.3 | ' | ' | ' | ' | 115 | 122.8 |
Interest expense | 15.4 | ' | 0.6 | ' | ' | ' | ' | 10.3 | 4.7 | ' | ' | ' | ' | 14.8 | 15.4 |
Income before income tax expense | 107.4 | ' | 7.2 | ' | ' | ' | ' | 81.2 | 33.6 | ' | ' | ' | ' | 100.2 | 107.4 |
Income tax expense | 4.5 | ' | 3.7 | ' | ' | ' | ' | 24.4 | 2.8 | ' | ' | ' | ' | 0.8 | 4.5 |
Net income | $102.90 | ' | $3.50 | $15.30 | $17.40 | $11.70 | $12.40 | $56.80 | $30.80 | $28.10 | $24.50 | $26.40 | $23.90 | $99.40 | $102.90 |
Limited Partnership (LP) ownership interest (as a percent) | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net_Income_Per_Unit_and_Cash_D3
Net Income Per Unit and Cash Distributions Calculation of Net Income Per Unit (Details) (USD $) | 12 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jan. 23, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 |
Common Units - Public | Common Units - Public | Common Units - Public | Common Units - Parent | Common Units - Parent | Common Units - Parent | Common Units | Subordinated Units | Subordinated Units | Subordinated Units | Subordinated Units | Successor | Successor | Successor | Successor | Successor | ||
Limited Partner | Limited Partner | Limited Partner | |||||||||||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average units outstanding (basic) (in shares) | ' | ' | ' | ' | ' | ' | ' | 15,711,140 | 15,709,697 | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to SunCoke Energy Partners, L.P. subsequent to initial public offering | $62.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $17.30 | $13.70 | $15.80 | $11.80 | $58.60 |
General partner's interest in net income | 1.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 |
Limited partners' interest in net income subsequent to initial public offering | $57 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income per limited partner unit (basic) (in dollars per share) | ' | ' | ' | $1.81 | ' | ' | ' | ' | ' | ' | ' | $1.81 | ' | ' | ' | ' | ' |
Limited partners' capital account, units outstanding (in shares) | ' | 13,503,456 | 0 | 13,500,000 | 2,209,697 | 0 | 2,200,000 | ' | ' | 15,709,697 | 0 | 15,700,000 | ' | ' | ' | ' | ' |
Net_Income_Per_Unit_and_Cash_D4
Net Income Per Unit and Cash Distributions Distributions Percentage Allocations (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Total quarterly distribution per unit target amount (in dollars per share) | $0.47 |
Minimum Quarterly Distribution | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Total quarterly distribution target amount (in dollars per share) | $0.41 |
Minimum Quarterly Distribution | Unitholders | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Marginal percentage interest in distributions (as a percent) | 98.00% |
Minimum Quarterly Distribution | General Partner | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Marginal percentage interest in distributions (as a percent) | 2.00% |
First Target Distribution | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Total quarterly distribution target amount (in dollars per share) | $0.41 |
First Target Distribution | Minimum | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Total quarterly distribution target amount (in dollars per share) | $0.41 |
First Target Distribution | Maximum | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Total quarterly distribution target amount (in dollars per share) | $0.47 |
First Target Distribution | Unitholders | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Marginal percentage interest in distributions (as a percent) | 98.00% |
Marginal percentage interest in distributions (as a percent) | 98.00% |
First Target Distribution | General Partner | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Marginal percentage interest in distributions (as a percent) | 2.00% |
Marginal percentage interest in distributions (as a percent) | 2.00% |
Second Target Distribution | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Total quarterly distribution target amount (in dollars per share) | $0.41 |
Second Target Distribution | Minimum | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Total quarterly distribution target amount (in dollars per share) | $0.47 |
Second Target Distribution | Maximum | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Total quarterly distribution target amount (in dollars per share) | $0.52 |
Second Target Distribution | Unitholders | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Marginal percentage interest in distributions (as a percent) | 98.00% |
Marginal percentage interest in distributions (as a percent) | 85.00% |
Second Target Distribution | General Partner | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Marginal percentage interest in distributions (as a percent) | 2.00% |
Marginal percentage interest in distributions (as a percent) | 15.00% |
Third Target Distribution | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Total quarterly distribution target amount (in dollars per share) | $0.47 |
Third Target Distribution | Minimum | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Total quarterly distribution target amount (in dollars per share) | $0.52 |
Third Target Distribution | Maximum | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Total quarterly distribution target amount (in dollars per share) | $0.62 |
Third Target Distribution | Unitholders | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Marginal percentage interest in distributions (as a percent) | 98.00% |
Marginal percentage interest in distributions (as a percent) | 75.00% |
Third Target Distribution | General Partner | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Marginal percentage interest in distributions (as a percent) | 2.00% |
Marginal percentage interest in distributions (as a percent) | 25.00% |
Thereafter | Maximum | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Total quarterly distribution target amount (in dollars per share) | $0.68 |
Thereafter | Unitholders | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Marginal percentage interest in distributions (as a percent) | 50.00% |
Thereafter | General Partner | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' |
Marginal percentage interest in distributions (as a percent) | 50.00% |
Net_Income_Per_Unit_and_Cash_D5
Net Income Per Unit and Cash Distributions Allocation of Total Quarterly cash Distributions to General and Limited Partners (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
In Millions, except Per Share data, unless otherwise specified | Jan. 27, 2014 | Oct. 22, 2013 | Jul. 23, 2013 | Apr. 23, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Cash Distributions | ' | $13.90 | $13.50 | $9.80 | $15.20 | $13.90 | $13.50 | $9.80 | ' |
Quarterly cash distribution declared (per share) | $0.48 | $0.43 | $0.42 | $0.31 | ' | ' | ' | ' | $1.64 |
Common Units | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to unitholders | ' | ' | ' | ' | ' | ' | ' | ' | 25.6 |
Subordinated Units | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to unitholders | ' | ' | ' | ' | ' | ' | ' | ' | 25.6 |
General Partner | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to unitholders | ' | ' | ' | ' | 0.4 | 0.3 | 0.3 | 0.2 | ' |
Limited Partner | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to unitholders | ' | ' | ' | ' | 14.8 | 13.6 | 13.2 | 9.6 | ' |
Limited Partner | Common Units | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to unitholders | ' | ' | ' | ' | 7.4 | 6.8 | 6.6 | 4.8 | ' |
Limited Partner | Subordinated Units | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to unitholders | ' | ' | ' | ' | 7.4 | 6.8 | 6.6 | 4.8 | ' |
General Partner's Interest | General Partner | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to unitholders | ' | ' | ' | ' | 0.4 | 0.3 | 0.3 | 0.2 | ' |
General Partner's Incentive Distribution | General Partner | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to unitholders | ' | ' | ' | ' | 0 | 0 | 0 | 0 | ' |
Subsequent Event | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Cash Distributions | $15.20 | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly cash distribution declared (per share) | $0.48 | ' | ' | ' | ' | ' | ' | ' | ' |
Net_Income_Per_Unit_and_Cash_D6
Net Income Per Unit and Cash Distributions Calculation of Net Income Allocated to the Limited Partners (Details) (USD $) | 0 Months Ended | 12 Months Ended | |||
In Millions, except Per Share data, unless otherwise specified | Jan. 27, 2014 | Oct. 22, 2013 | Jul. 23, 2013 | Apr. 23, 2013 | Dec. 31, 2013 |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' |
Allocation to General Partner (as a percent) | ' | ' | ' | ' | 100.00% |
Quarterly cash distribution declared (per share) | $0.48 | $0.43 | $0.42 | $0.31 | $1.64 |
Common Units | ' | ' | ' | ' | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' |
Distributions | ' | ' | ' | ' | $25.60 |
Undistributed earnings | ' | ' | ' | ' | 2.9 |
Unitholders' interest in net income subsequent to initial public offering | ' | ' | ' | ' | 28.5 |
Subordinated Units | ' | ' | ' | ' | ' |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ' | ' | ' | ' | ' |
Distributions | ' | ' | ' | ' | 25.6 |
Undistributed earnings | ' | ' | ' | ' | 2.9 |
Unitholders' interest in net income subsequent to initial public offering | ' | ' | ' | ' | $28.50 |
Income_Taxes_Details
Income Taxes (Details) | 12 Months Ended | 0 Months Ended |
Dec. 31, 2013 | Jan. 23, 2013 | |
Haverhill Coke Company LLC and Middletown Coke Company LLC | ||
IPO | ||
Subsidiary or Equity Method Investee [Line Items] | ' | ' |
Period during which tax credits were earned (in years) | '4 years | ' |
Interest in Partnership (as a percent) | ' | 65.00% |
Income_Taxes_Components_of_Inc
Income Taxes Components of Income Taxes (Details) (USD $) | 12 Months Ended | 11 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 23, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Successor | Successor | Predecessor | Predecessor | Predecessor | ||
Income Tax, Components of Income Tax Expense (Benefit [Line Items] | ' | ' | ' | ' | ' | ' |
U.S. federal | ' | $0 | ' | $2.50 | $24.40 | $2.80 |
U.S. state and local | ' | 0.8 | ' | 1.2 | 0 | 0 |
Total | $4.50 | $0.80 | $4.50 | $3.70 | $24.40 | $2.80 |
Income_Taxes_Income_Tax_Expens
Income Taxes Income Tax Expense Reconciliation (Details) (USD $) | 11 Months Ended | 1 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Jan. 23, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Successor | Predecessor | Predecessor | Predecessor | |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Income tax expense at U.S. statutory rate of 35 percent | $35.10 | $2.50 | $28.40 | $11.80 |
Increase (reduction) in income taxes resulting from: | 0 | 0 | -4.8 | -9.1 |
Partnership income not subject to tax | -35.1 | 0 | 0 | 0 |
Local tax for Middletown operations | 0.5 | 0.6 | 0 | 0 |
Other | 0.3 | 0.6 | 0.8 | 0.1 |
Total Income Tax Expense | $0.80 | $3.70 | $24.40 | $2.80 |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation (as a percent) | ' | ' | ' | ' |
Income tax expense at U.S. statutory rate of 35 percent | 35.00% | 35.00% | 35.00% | 35.00% |
Nonconventional fuel credit | 0.00% | 0.00% | -6.00% | -27.00% |
Partnership income not subject to tax | -35.00% | 0.00% | 0.00% | 0.00% |
Local tax for Middletown operations | 0.50% | 8.30% | 0.00% | 0.00% |
Other | 0.30% | 8.30% | 1.00% | 0.30% |
Total Income Tax Expense | 0.80% | 51.60% | 30.00% | 8.30% |
Income_Taxes_Schedule_of_Defer
Income Taxes Schedule of Deferred Tax Assets and Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Nonconventional fuel credit carryforward | $0 | $64.50 |
Federal net operating loss | 0 | 139.5 |
Local net operating loss | 3.2 | 0 |
Other liabilities not yet deductible | 0 | 4.3 |
Total deferred tax assets | 3.2 | 208.3 |
Less valuation allowance | -0.3 | 0 |
Deferred tax asset, net | 2.9 | 208.3 |
Deferred tax liabilities: | ' | ' |
Properties, plants and equipment | -4.9 | -186.9 |
Total deferred tax liabilities | -4.9 | -186.9 |
Net deferred tax (liability) asset | ($2) | $21.40 |
Income_Taxes_Deferred_Taxes_Ba
Income Taxes Deferred Taxes Balance Sheet Classification (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Deferred Tax Assets, Net, Current | $0.80 | $0 |
Deferred Tax Assets, Net, Noncurrent | -2.8 | 21.4 |
Net deferred tax (liability) asset | ($2) | $21.40 |
Inventories_Details
Inventories (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Coal | $33.10 | $41.60 |
Coke | 4.1 | 5.9 |
Material, supplies, and other | 22.1 | 15.7 |
Total Inventories | $59.30 | $63.20 |
Properties_Plants_and_Equipmen2
Properties, Plants, and Equipment, Net (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Gross investment, at cost | $1,001.60 | [1] | $867.80 | [1] |
Less: accumulated depreciation | 130.5 | [1] | 99.1 | [1] |
Total Properties, Plant and Equipment, net | 871.1 | [1] | 768.7 | [1] |
Coke and energy plant, machinery and equipment | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Gross investment, at cost | 836.8 | [1] | 823.5 | [1] |
Coal logistics plant, machinery and equipment | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Gross investment, at cost | 82.6 | [1] | 0 | [1] |
Land and land improvements | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Gross investment, at cost | 44.3 | [1] | 34.2 | [1] |
Construction-in-progress | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Gross investment, at cost | 36.3 | [1] | 9.6 | [1] |
Other | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Gross investment, at cost | 1.6 | [1] | 0.5 | [1] |
Coke and energy plant, machinery and equipment, subject to long-term contracts to sell coke and deemed to contain operating leases | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Gross investment, at cost | 418.4 | [1] | 414.6 | [1] |
Less: accumulated depreciation | $29 | [1] | $15 | [1] |
[1] | Includes assets, consisting mainly of coke and energy plant, machinery and equipment, with a gross investment totaling $418.4 million and $414.6 million and accumulated depreciation of $29.0 million and $15.0 million at DecemberB 31, 2013 and DecemberB 31, 2012, respectively, which are subject to long-term contracts to sell coke and are deemed to contain operating leases. |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 |
Kanawha River Terminals LLC | ||
Business Acquisition [Line Items] | ' | ' |
Goodwill | ' | $8.20 |
Amortization expense 2013 | 0.1 | ' |
Amortization 2014 | 0.8 | ' |
Amortization 2015 | 0.8 | ' |
Amortization 2016 | 0.8 | ' |
Amortization 2017 | 0.8 | ' |
Amortization 2018 | $0.80 | ' |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets The Components of Definite-lived Intangible Assets (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Finite-Lived Intangible Assets, Net [Abstract] | ' |
Gross Carrying Amount | $7.90 |
Accumulated Amortization | 0.1 |
Net | 7.8 |
Customer relationships | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Weighted - Average Remaining Amortization | '11 years |
Finite-Lived Intangible Assets, Net [Abstract] | ' |
Gross Carrying Amount | 6.7 |
Accumulated Amortization | 0.1 |
Net | 6.6 |
Trade name | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Weighted - Average Remaining Amortization | '5 years |
Finite-Lived Intangible Assets, Net [Abstract] | ' |
Gross Carrying Amount | 1.2 |
Accumulated Amortization | 0 |
Net | $1.20 |
Retirement_and_OtherPostEmploy1
Retirement and Other-Post-Employment Benefits Plans (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Partnership contributions | $1.50 | $1.20 | $1 |
Accrued_Liabilities_Details
Accrued Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ' | ' |
Accrued sales discounts | $0 | $12.40 |
Accrued benefits | 4.2 | 1.9 |
Other | 2.2 | 2.7 |
Total | $6.40 | $17 |
Debt_Details
Debt (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||
Aug. 28, 2013 | Jan. 23, 2013 | Dec. 31, 2013 | Aug. 28, 2013 | Jan. 23, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jul. 26, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 23, 2013 | Jan. 23, 2013 | Jan. 23, 2013 | Dec. 31, 2012 | Jul. 26, 2011 | Jul. 26, 2011 | Jul. 26, 2011 | |
IPO | IPO | IPO | IPO | Interest Expense | Kanawha River Terminals LLC | Kanawha River Terminals LLC | Kanawha River Terminals LLC | Term Loans | Term Loans | Term Loans | Term Loans | Term Loans | Senior Notes, Due 2020 | Senior Notes | SunCoke Energy Inc | SunCoke Energy Inc | SunCoke Energy Inc | SunCoke Energy Inc | |
Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | Uncommitted Incremental Revolving Credit Facility | IPO | Revolving Credit Facility | Revolving Credit Facility | IPO | IPO | IPO | Term Loans | Term Loans | Term Loans | Term Loans | ||||||
Revolving Credit Facility | Credit Agreement | Credit Agreement | Credit Agreement | Credit Agreement | |||||||||||||||
IPO | Base Rate | LIBOR | |||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit agreement period (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' |
Interest rate on debt (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.38% | ' | ' | 1.00% | ' | ' |
Margin on term loans (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 3.00% |
Weighted average interest rate on borrowings (as a percent) | ' | ' | ' | ' | ' | ' | 2.43% | ' | ' | ' | ' | ' | ' | ' | ' | 4.07% | ' | ' | ' |
Term loan | ' | ' | ' | ' | ' | ' | ' | ' | $225,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility fees | 900,000 | 2,200,000 | ' | ' | ' | ' | ' | ' | 5,700,000 | ' | ' | ' | ' | ' | 3,700,000 | ' | ' | ' | ' |
Allocated interest expense and amortization of debt issuance cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | 10,300,000 | 4,700,000 | ' | ' | ' | ' | ' | ' | ' |
Long-term debt assumed and repaid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 225,000,000 | ' | ' | ' | ' | ' | ' |
Revolving credit facility | 150,000,000 | 100,000,000 | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized debt issuance expense | ' | 2,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,900,000 | ' | ' | ' | ' | ' | ' |
Debt issuance costs immediately expensed | ' | ' | ' | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing of acquisition, borrowings | ' | ' | ' | ' | ' | 40,000,000 | ' | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit outstanding | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility available | ' | ' | 109,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | 0.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partnership notes issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $150,000,000 | ' | ' | ' | ' | ' |
Percentage of partnership notes that may be redeemed (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' |
Commitments_and_Contingent_Lia2
Commitments and Contingent Liabilities (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Jan. 23, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Haverhill and Granite City | Haverhill Coke Company LLC and Middletown Coke Company LLC | Haverhill Coke Company LLC and Middletown Coke Company LLC | Predecessor | |
IPO | IPO | Haverhill and Granite City | ||
Loss Contingencies [Line Items] | ' | ' | ' | ' |
Environmental capital expenditures retained | ' | $67 | $67 | ' |
Cost of capital projects | 27 | ' | ' | 5 |
Environmental liability due in 2014 | 36 | ' | ' | ' |
Environmental liability due 2015 | $11 | ' | ' | ' |
Commitments_and_Contingent_Lia3
Commitments and Contingent Liabilities Future Minimum Annual Rentals (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $1.70 |
2015 | 1.2 |
2016 | 0.5 |
2017 | 0.1 |
2018 | 0.1 |
2019-Thereafter | 0.1 |
Total | $3.70 |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Successor | Predecessor | |
Accounts receivable | $39.60 | $0 |
Deferred taxes | $18.30 | $0 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 |
Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Cash Equivalents [Member] | |||
Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | |||
Fair Value, Inputs, Level 1 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | $0 | $0 | $12,000,000 |
Estimated fair value of the Partnership's long-term debt | 156,500,000 | 225,300,000 | ' | ' | ' |
Carrying value of Partnership's long-term debt | $149,700,000 | $225,000,000 | ' | ' | ' |
Business_Segment_Disclosures_S
Business Segment Disclosures Segment Results (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
T | |
Segment Reporting Information [Line Items] | ' |
Coal handling capacity (in tons) | 30,000,000 |
Sales and other operating revenue | $687.30 |
Intersegment sales | 0 |
Adjusted EBITDA | 155.2 |
Depreciation and amortization expense | 33 |
Capital Expenditure | 41.5 |
Assets | 1,027.50 |
Domestic Coke | ' |
Segment Reporting Information [Line Items] | ' |
Sales and other operating revenue | 674.8 |
Intersegment sales | 0 |
Adjusted EBITDA | 157.3 |
Depreciation and amortization expense | 31.2 |
Capital Expenditure | 41.3 |
Assets | 884.2 |
Coal logistics revenues | ' |
Segment Reporting Information [Line Items] | ' |
Sales and other operating revenue | 12.5 |
Intersegment sales | 1.1 |
Adjusted EBITDA | 4.7 |
Depreciation and amortization expense | 1.8 |
Capital Expenditure | 0.2 |
Assets | 120.6 |
Corporate and Other | ' |
Segment Reporting Information [Line Items] | ' |
Sales and other operating revenue | 0 |
Intersegment sales | 0 |
Adjusted EBITDA | -6.8 |
Depreciation and amortization expense | 0 |
Capital Expenditure | 0 |
Assets | $22.70 |
Business_Segment_Disclosures_R
Business Segment Disclosures Reconciliation of Adjusted EBITDA (Details) (USD $) | 12 Months Ended | 3 Months Ended | 11 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 23, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2013 | Dec. 31, 2012 | |||
Successor | Successor | Successor | Successor | Successor | Successor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Haverhill | Haverhill | ||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Adjusted EBITDA attributable to Predecessor/SunCoke Energy Partners, L.P. | ' | ' | ' | ' | ' | ' | ' | $103.50 | ' | ' | ' | ' | ' | $127.40 | $61.90 | ' | ' | |||
Add: Adjusted EBITDA attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | 51.7 | [1] | ' | ' | ' | ' | ' | 0 | [1] | 0 | [1] | ' | ' |
Adjusted EBITDA | 155.2 | ' | ' | ' | ' | ' | ' | 155.2 | ' | ' | ' | ' | ' | 127.4 | 61.9 | ' | ' | |||
Depreciation and amortization expense | 33 | ' | ' | ' | ' | ' | 31.1 | 33 | 1.9 | ' | ' | ' | ' | 33.2 | 18.6 | ' | ' | |||
Interest expense | 15.4 | ' | ' | ' | ' | ' | 14.8 | 15.4 | 0.6 | ' | ' | ' | ' | 10.3 | 4.7 | ' | ' | |||
Income tax expense | 4.5 | ' | ' | ' | ' | ' | 0.8 | 4.5 | 3.7 | ' | ' | ' | ' | 24.4 | 2.8 | ' | ' | |||
Sales discounts related to tax credits owed to customers | ' | ' | ' | ' | ' | ' | ' | -0.6 | [2] | ' | ' | ' | ' | ' | 2.7 | [2] | 5 | [2] | ' | ' |
Net income | 102.9 | ' | 28.1 | 24.5 | 26.4 | 23.9 | 99.4 | 102.9 | 3.5 | 15.3 | 17.4 | 11.7 | 12.4 | 56.8 | 30.8 | ' | ' | |||
Accrued sales discounts | 0 | 12.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.4 | |||
Payment of Accrual for Sale Volume Discount Payable Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.8 | ' | |||
Gain (Loss) on Payment of Accrual for Sales Volume Discount Payable Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.60 | ' | |||
[1] | Reflects net income attributable to noncontrolling interest adjusted for noncontrolling interest share of interest, taxes and depreciation. | |||||||||||||||||||
[2] | At December 31, 2012, we had $12.4 million in accrued sales discounts to be paid to a customer at our Haverhill facility. During the first quarter of 2013, we settled this obligation for $11.8 million which resulted in a gain of $0.6 million. This gain is recorded in sales and other operating revenue on our Combined and Consolidated Statement of Income. |
Business_Segment_Disclosures_O
Business Segment Disclosures Operating Revenue by Product or Service (Details) (USD $) | 12 Months Ended | 3 Months Ended | 11 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 23, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Successor | Successor | Successor | Successor | Successor | Successor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Cokemaking revenues | Cokemaking revenues | Cokemaking revenues | Energy revenues | Energy revenues | Energy revenues | Coal logistics revenues | Coal logistics revenues | Coal logistics revenues | Other revenues | Other revenues | Other revenues | ||
Successor | Predecessor | Predecessor | Successor | Predecessor | Predecessor | Successor | Predecessor | Predecessor | Successor | Predecessor | Predecessor | |||||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales and other operating revenue | $687.30 | $172.70 | $162 | $167.70 | $184.90 | $639.70 | $687.30 | $47.60 | $186.20 | $195.20 | $182.10 | $176.70 | $740.20 | $449.80 | $630.20 | $698.80 | $422 | $44.50 | $41.40 | $27.80 | $11.30 | $0 | $0 | $1.30 | $0 | $0 |
Selected_Quartelry_Data_Detail
Selected Quartelry Data (Details) (USD $) | 12 Months Ended | 3 Months Ended | 11 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Jan. 23, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||
Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | ||||||||||
Common Units | Common Units | Common Units | Common Units | Common Units | Subordinated Units | Subordinated Units | Subordinated Units | Subordinated Units | Subordinated Units | |||||||||||||||||||||||
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Sales and other operating revenue | $687.30 | $172.70 | $162 | $167.70 | $184.90 | $639.70 | $687.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $47.60 | $186.20 | $195.20 | $182.10 | $176.70 | $740.20 | $449.80 | ||||||||
Gross profit | ' | 36.4 | [1] | 34.8 | [1] | 34.1 | [1] | 38.9 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.3 | [1] | 32.2 | [1] | 25.6 | [1] | 25.4 | [1] | ' | ' |
Net income | 102.9 | 28.1 | 24.5 | 26.4 | 23.9 | 99.4 | 102.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.5 | 15.3 | 17.4 | 11.7 | 12.4 | 56.8 | 30.8 | ||||||||
Net income attributable to SunCoke Energy Partners L.P. | $62.10 | $17.30 | $13.70 | $15.80 | $11.80 | ' | $58.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $56.80 | $30.80 | ||||||||
Net income per limited partner unit (basic and diluted) (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $0.53 | $0.43 | $0.49 | $0.37 | $1.81 | $0.53 | $0.43 | $0.49 | $0.37 | $1.81 | ' | ' | ' | ' | ' | ' | ' | ||||||||
[1] | Gross profit equals sales and other operating revenue less cost of products sold, operating expenses and depreciation and amortization.* Not applicable |