Business Context and Reporting Period
This Form 8-K was filed by SunCoke Energy, Inc. on September 5, 2013. The report details a material definitive agreement entered into on the same date between the Company's subsidiary, Indiana Harbor Coke Company, L.P., and ArcelorMittal USA.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures for the reporting period. The primary financial data point disclosed is the value of new capital investment associated with the agreement.
- New Capital Deployment: Approximately $85 million allocated to refurbish and upgrade the Indiana Harbor cokemaking facility.
- Contract Volume: 1.22 million tons of metallurgical coke annually.
Material Changes
The Company executed a 10-year extension of its existing supply contract with ArcelorMittal USA, effective October 1, 2013. Key changes and provisions include:
- Continuation of the pass-through mechanism for coal costs.
- Reimbursement of operating and maintenance expenses subject to specific metrics.
- Inclusion of a pricing adjustment per ton of coke to account for the $85 million in new capital expenditures.
Guidance, Outlook, and Risks
The filing includes a Safe Harbor Statement regarding forward-looking statements. Management notes that actual results could differ materially from projections due to various factors outlined in other SEC filings. No specific financial guidance or outlook numbers were provided in this document.
Investor Verification Checklist
- Verify the full text of the extension agreement to be filed as an exhibit to the Form 10-Q for the period ending September 30, 2013.
- Confirm the specific metrics governing the reimbursement of operating and maintenance expenses.
- Review the detailed pricing adjustment formula related to the $85 million capital deployment.
- Check the press release attached as Exhibit 99.1 for additional context on the partnership.