SunCoke Energy, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>SunCoke Energy, Inc. has filed its 2023 annual report (10-K) detailing its operations in steel production and coke ovens.</b>

AI Summary

SunCoke Energy, Inc. (SXC) filed a Annual Report (10-K) with the SEC on February 22, 2024. SunCoke Energy, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business is described as STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) under SIC code 3312. The filing was submitted on February 22, 2024. SunCoke Energy, Inc. is headquartered in Lisle, Illinois.

Why It Matters

For investors and stakeholders tracking SunCoke Energy, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of SunCoke Energy's financial performance, operational activities, and strategic outlook for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, understand its position within the steel industry, and evaluate potential risks and opportunities.

Risk Assessment

Risk Level: medium — SunCoke Energy, Inc. shows moderate risk based on this filing. The company operates in the steel works and coke ovens industry, which can be subject to cyclical demand and commodity price fluctuations, impacting financial performance.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand SunCoke Energy's performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-22 — Filing Date (Date the report was filed)
• 2023-01-01 — Report Start Date (Beginning of the reporting period)

Key Players & Entities

• SunCoke Energy, Inc. (company) — Filer and subject of the report
• 2023 (date) — Fiscal year end
• 10-K (document) — Form type filed
• Lisle, IL (location) — Company headquarters
• 3312 (industry_code) — Standard Industrial Classification for business

FAQ

Industry Context

SunCoke Energy operates within the steel production and coke manufacturing sector, an industry characterized by its reliance on raw material costs and demand from the automotive and construction sectors.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, requiring timely and accurate disclosure of financial and operational information through filings like the 10-K.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and debt levels.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
3. Examine the risk factors section for potential challenges and mitigation strategies.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-22: Filing Date — Date SunCoke Energy, Inc. submitted its 10-K filing.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing a year-end summary of the company's performance and financial position.

Key Financial Figures

• $0.01 — ange on which Registered Common Stock, $0.01 par value SXC New York Stock Exchange

Filing Documents

• sxc-20231231.htm (10-K) — 2037KB
• sxc-202310xkex211.htm (EX-21.1) — 36KB
• sxc-202310xkex221.htm (EX-22.2) — 23KB
• sxc-202310xkex231.htm (EX-23.1) — 2KB
• sxc-202310xkex311.htm (EX-31.1) — 9KB
• sxc-202310xkex312.htm (EX-31.2) — 9KB
• sxc-202310xkex321.htm (EX-32.1) — 5KB
• sxc-202310xkex322.htm (EX-32.2) — 5KB
• sxc-202310xkex951.htm (EX-95.1) — 49KB
• sxc-202310xkex971.htm (EX-97.1) — 63KB
• sxc-20231231_g1.jpg (GRAPHIC) — 89KB
• 0001514705-24-000005.txt (&nbsp;) — 11117KB
• sxc-20231231.xsd (EX-101.SCH) — 77KB
• sxc-20231231_cal.xml (EX-101.CAL) — 125KB
• sxc-20231231_def.xml (EX-101.DEF) — 353KB
• sxc-20231231_lab.xml (EX-101.LAB) — 877KB
• sxc-20231231_pre.xml (EX-101.PRE) — 624KB
• sxc-20231231_htm.xml (XML) — 1690KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 27 Item 1C. Cybersecurity 27 Item 2.

Properties

Properties 28 Item 3.

Legal Proceedings

Legal Proceedings 29 Item 4. Mine Safety Disclosures 29 PART II Item 5. Market for Registrant's Common Equity, Related Stockholders Matters and Issuer Purchases of Equity Securities 30 Item 6. [Reserved] 31 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 42 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 75 Item 9A.

Controls and Procedures

Controls and Procedures 75 Item 9B. Other Information 75 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 75 PART III Item 10. Directors, Executive Officers and Corporate Governance 76 Item 11.

Executive Compensation

Executive Compensation 76 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 76 Item 13. Certain Relationships and Related Transactions, and Director Independence 76 Item 14. Principal Accountant Fees and Services 76 PART IV Item 15. Exhibits and Financial Statement Schedules 77 Item 16. Form 10-K Summary 81

Signatures

Signatures 82 i Table of Contents CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS We have made forward-looking statements in this Annual Report on Form 10-K, including, among others, in the sections entitled "Business," "Risk Factors," "Quantitative and Qualitative Disclosures About Market Risk" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking statements include all statements that are not historical facts and may be identified by the use of forward-looking terminology such as the wor ds "believe," "expect," "plan," "intend," "anticipate," "estimate," "predict," "potential," "continue," "may," "will," "should" or the negative of these terms or similar expressions. Such forward-looking statements are based on management's beliefs, expectations and assumptions based upon information currently available, and include, but are not limited to, statements concerning our possible or assumed future results of operations, business strategies, financing plans, competitive position, potential growth opportunities (including, among other things, anticipated expansion into the foundry coke market), the influence of competition, and the effects of future legislation or regulations. In add ition, statements in this Annual Report on Form 10-K concerning future dividend declarations are subject to approval by our Board of Directors and will be based upon circumstances then existing. Forward-looking statements are not guarantees of future performance, but are based upon the current knowledge, beliefs and expectations of SunCoke management, and upon assumptions by SunCoke concerning future conditions, any or all of which ultimately may prove to be inaccurate. Forward-looking statements involve risks, uncertainties and assumptions. Actual results may differ materially from those expressed in these forward-looking statements. You should not put undue reliance on any forward-looking statements. We do not have

Business

Item 1. Business Overview SunCoke Energy, Inc. ("SunCoke Energy," "SunCoke," "Company," "we," "our" and "us") is the largest independent producer of high-quality coke in the Americas, as measured by tons of coke produced each year, and has more than 60 years of coke production experience. Coke is produced by heating metallurgical coal in a refractory oven, which releases certain volatile components from the coal, thus transforming the coal into coke. Our coke is primarily used as a principal raw material in the blast furnace steelmaking process as well as in the foundry production of casted iron, and the majority of our sales are derived from blast furnace coke sales made under long-term, take-or-pay agreements. We also sell coke produced utilizing capacity in excess of that reserved for our long-term, take-or-pay agreements to customers in both the export and North American domestic coke markets seeking high-quality product for their blast furnaces. We have designed, developed and built, and we currently own and operate five cokemaking facilities in the United States ("U.S.") with collective nameplate capacity to produce approximately 4.2 million tons of blast furnace coke per year. Additionally, we designed and currently operate one cokemaking facility in Brazil under licensing and operating agreements on behalf of ArcelorMittal Brasil S.A. ("ArcelorMittal Brazil"), which has approximately 1.7 million tons of annual cokemaking capacity. We also own and operate a logistics business that provides export and domestic material handling and/or mixing services to steel, coke (including some of our domestic cokemaking facilities), electric utility, coal producing and other manufacturing based customers. Our logistics terminals, which are strategically located to reach Gulf Coast, East Coast, Great Lakes and international ports, have the collective capacity to mix and/or transload more than 40 million tons of product annually and have storage capacity of approximately