SunCoke Energy Partners, L.P.

CIK:0001555538|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues
Sales and other operating revenue	$ 230.4	$ 214.8
Costs and operating expenses
Cost of products sold and operating expenses	174.1	157.1
Selling, general and administrative expenses	8.7	8.2
Depreciation and amortization expense	28.4	21.5
Total costs and operating expenses	211.2	186.8
Operating income	19.2	28.0
Interest expense, net	14.4	15.0
Income before income tax (benefit) expense	4.8	13.0
Income tax (benefit) expense	(0.1)	0.3
Net income	4.9	12.7
Less: Net income attributable to noncontrolling interests	0.4	0.5
Net income attributable to SunCoke Energy Partners, L.P.	4.5	12.2
General partner's interest in net income	0.1	0.3
Limited partners' interest in net income	$ 4.4	$ 11.9
Net income per common unit (basic and diluted) (in dollars per share)	$ 0.10	$ 0.26
Weighted average common units outstanding (basic and diluted) (in shares)	46.2	46.2

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash Flows from Operating Activities:
Net income	$ 4.9	$ 12.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	28.4	21.5
Deferred income tax expense	(0.1)	0.4
Changes in working capital pertaining to operating activities:
Receivables	(12.6)	(5.6)
Receivables/payables from affiliate, net	5.8	5.7
Inventories	(25.6)	(0.3)
Accounts payable	9.3	20.9
Accrued liabilities	(0.6)	(3.0)
Deferred revenue	4.5	1.9
Interest payable	13.1	12.8
Other	(1.4)	(0.9)
Net cash provided by operating activities	25.7	66.1
Cash Flows from Investing Activities:
Capital expenditures	(13.4)	(10.6)
Net cash used in investing activities	(13.4)	(10.6)
Cash Flows from Financing Activities:
Repayment of financing obligation	(0.7)	(0.6)
Proceeds from revolving credit facility	60.7	53.5
Repayment of revolving credit facility	(65.7)	(53.5)
Distributions to unitholders (public and parent)	(18.9)	(29.5)
Distributions to noncontrolling interest (SunCoke Energy, Inc.)	(0.7)	(0.5)
Capital contributions from SunCoke	4.0	10.0
Other financing activities	(0.9)	0.0
Net cash used in financing activities	(22.2)	(20.6)
Net (decrease) increase in cash and cash equivalents	(9.9)	34.9
Cash and cash equivalents at beginning of period	12.6	6.6
Cash and cash equivalents at end of period	2.7	41.5
Supplemental Disclosure of Cash Flow Information
Interest paid, net of capitalized interest of $1.2 million and $0.5 million, respectively	0.4	1.5
Income taxes paid	$ 0.0	$ 1.3

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Assets
Cash	$ 2.7	$ 12.6
Receivables	61.4	48.8
Receivables from affiliate, net	0.0	3.1
Inventories	104.6	79.0
Other current assets	3.0	1.0
Total current assets	171.7	144.5
Properties, plants and equipment (net of accumulated depreciation of $521.7 million and $499.9 million at March 31, 2019 and December 31, 2018, respectively)	1,233.0	1,245.1
Goodwill	73.5	73.5
Other intangible assets, net	153.2	155.8
Deferred charges and other assets	2.4	0.2
Total assets	1,633.8	1,619.1
Liabilities and Equity
Accounts payable	78.3	68.8
Accrued liabilities	13.1	13.5
Deferred revenue	7.5	3.0
Current portion of long-term debt and financing obligation	2.8	2.8
Interest payable	16.3	3.2
Payable to affiliate, net	2.7	0.0
Total current liabilities	120.7	91.3
Long-term debt and financing obligation	788.3	793.3
Deferred income taxes	115.6	115.7
Other deferred credits and liabilities	13.2	12.1
Total liabilities	1,037.8	1,012.4
Equity
Equity	584.6	595.0
Noncontrolling interest	11.4	11.7
Total equity	596.0	606.7
Total liabilities and equity	1,633.8	1,619.1
Common Units - Public
Equity
Equity	188.7	194.1
Common Units - Parent
Equity
Equity	342.9	351.6
General Partner
Equity
Equity	$ 53.0	$ 49.3