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