You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: With that, I'll now turn things over to Mike.
The dedication of our team is clearly visible for our safety record, operational excellence and financial results.
On the coronavirus front, we continue to take all necessary measures to ensure the health and safety of our workforce and the additional precautions we have taken remain in place.
COVID-19 task force continually monitors and evaluates the evolving situation and responds and adjust as the environment develops.
On Slide 3, you can see the key initiatives that we set out and how we performed against these objectives.
We delivered $205.9 million of adjusted EBITDA in 2020, exceeding our revised guidance range of $190 million to $200 million.
This reflects the strong performance of our coke operations despite running a sub-optimal utilization rates and strong cost control across the company.
Earlier this year, we announced the companywide cost savings initiative, which we anticipate will result in approximately $10 million of annualized savings.
These cost savings initiatives provided benefits in 2020 and will continue in the years ahead.
The domestic coke operations contributed $217 million to adjusted EBITDA in 2020, which exceeded the revised guidance range for domestic coke.
I am pleased with the safe and efficient operation of our coke facilities all while following additional precautionary measures due to the pandemic.
Another significant achievement for SunCoke in 2020 is the extension of existing contracts at Jewell, Haverhill 1 and Haverhill 2.
We helped our customers navigate through challenging market conditions earlier this year, by reducing current year production and exchange for contract extensions, which illustrates the strength and long-term nature of our customer relationships.
We also signed a two-year take-or-pay coal handling agreement with Javelin at CMT during the fourth quarter.
This contract provides stability to the operations at CMT, while we actively pursue new business opportunities.
I also want to briefly touch on our foundry coke initiative.
The testing, development and capital deployment necessary for profitable foundry coke production went well throughout 2020.
We are now commercial in this new market with a high quality product.
During the fourth quarter, we also explored export coke opportunities for 2021 and today have had good success.
We plan on running at full capacity in 2021 and feel confident that demand from export and foundry markets will support this level of production.
Looking at our capital structure and deployment of free cash flow in 2020, we reduced gross debt by $110 million and net debt by approximately $61 million.
This includes the opportunistic open-market purchases of approximately $63 million face value senior notes.
Additionally, we paid a $0.24 per share annual dividend and repurchased 1.6 million shares during the first quarter.
As we reflect on our business, we are pleased with the strength of our core operations, which allowed us to drive robust cash flows for the year.
This strong cash flow has provided us the ability to weather market challenges, while also aggressively pursuing a balanced yet opportunistic approach to capital allocation.
Fay will go into more detail on this, but on a high level, we made progress on our capital allocation initiatives for the year, reducing our debt, investing in our assets and returning meaningful capital to our shareholders.
Turning to Slide 4.
The fourth quarter net loss attributable to SXC was $0.06 per share, down $0.04 versus the fourth quarter of 2019.
On a GAAP basis, our full year 2020 net income attributable to SXC was $0.04 per share, up $2.02 versus the full year of 2019.
As a reminder, full year 2019 results included a $2.27 per share impairment charge recorded to Logistics goodwill and long-lived asset at CMT. After adjusting for these charges, 2020 diluted earnings per share was $0.25 lower than the prior year, due primarily to lower volumes at both the domestic coke and logistics segments.
Consolidated adjusted EBITDA for the fourth quarter of 2020 was $37 million, down $13.8 million versus the fourth quarter of 2019.
The decrease was mainly driven by lower volumes in our Domestic Coke segment.
On a full year basis we delivered adjusted EBITDA of $205.9 million, down $42 million versus the full year of 2019.
Coke operations were down $12.2 million due to lower volumes, which were partially offset by lower operating costs.
Year-over-year results were also impacted by the bankruptcy of our coal customer at our Logistics segment.
Turning to the next slide and looking further at our fourth quarter adjusted EBITDA performance.
Slide 5 bridges fourth quarter 2019 adjusted EBITDA to fourth quarter 2020 adjusted EBITDA.
As we have discussed in our previous conference calls in response to challenging and -- in response to a challenging and unprecedented environment we partnered with our coke customers to address their near-term coke needs.
In exchange for the extension of several coke contracts, we agreed to reduce our coke production in 2020 by approximately 550,000 tons.
This volume reduction contributed to the lower adjusted EBITDA from coke operations in the fourth quarter of 2020 as compared to the prior year.
Strong cost control and management partially offset the impact of lower volumes.
Logistics operations were $1.8 million lower quarter-over-quarter due to lower volumes as well as lower pricing, which was offset partially by lower operating costs.
Corporate and other expenses were higher by $2.9 million quarter-over-quarter, mainly due to higher non-cash legacy liability expense.
Turning to Slide 6.
Full year 2020 adjusted EBITDA was $205.9 million down $42 million compared to the prior year.
Our Domestic Coke segment delivered strong operational performance despite running at reduced production level.
Lower sales volumes were partly offset by strong cost control and efficient operating procedures.
The Domestic Coke segment delivered full-year adjusted EBITDA of approximately $217 million, which was well above our full year revised Domestic Coke guidance.
Including Brazil, our coke operations delivered adjusted EBITDA of $230.5 million.
Adjusted EBITDA of the Logistics segment decreased $25.3 million year-over-year, primarily as a result of the Chapter 11 bankruptcy of Foresight Energy and the subsequent rejection of the contract with CMT. Finally, our corporate and other segment was unfavorable by $4.5 million.
Lower employee-related costs were offset by higher non-cash legacy liability expense and foundry related R&D cost.
In summary, we are very pleased with the performance across all our segments of the company especially during a very tough and challenging year.
Turning to our capital deployment on Slide 7.
As Mike highlighted, we generated very strong operating cash flow, approximately $158 million in the year, which was above our full year revised guidance range of $116 million to $136 million.
This robust cash flow generation allowed us to make good progress on our capital deployment initiatives.
Capex of $74 million was spent during the year, which was below our guidance and included close to $11 million for foundry related expansion work.
As we manage through the various constraints and challenges caused by the pandemic, we deferred certain capital projects in 2020.
We expect maintenance capex will be higher in 2021 as our operations return to normal levels.
We continue to make good progress managing our balance sheet.
During the year we spent approximately $104 million of cash to reduce debt outstanding by $110 million.
This includes repurchasing $62.7 million face value SXCP notes at a discount.
As we have consistently indicated our long-term goal is to reduce our gross leverage ratio down to 3 times or lower.
We also returned capital to our shareholders in 2020.
We repurchased approximately 1.6 million shares for $7 million during the first quarter.
We also paid a total of $0.24 per share dividend in 2020 which was the use of cash of approximately $20 million.
In total, we ended 2020 with a cash balance of approximately $48 million and a strong liquidity position of approximately $348 million, setting the stage for continued progress against our capital allocation priorities in 2021.
Before we -- pardon me.
Before we review our 2021 guidance, I wanted to provide a few brief thoughts on the overall market and where we see things as we enter the New Year.
2020 proved to be a roller coaster ride for the steel industry.
Prior to the pandemic, utilization rates were stable at around 80%, reflecting good fundamental demand.
As the coronavirus took hold, capacity utilization [Indecipherable] dramatically to a low of 52% with all major integrated steel producers shutting down blast furnaces.
As the economy started to reopen in the fall, steel demand and capital -- and capacity utilization began to recover slowly.
As 2020 came to a close [Indecipherable] prices reached levels not seen in many years.
Steel demand and capacity utilization rates largely recovered and were approaching pre-pandemic levels.
We anticipate 2021 to be a year of continued recovery for the steel industry, potential for passage of a long overdue infrastructure bill, coupled with continued industrial recovery provides a good backdrop for the industry.
Looking beyond 2021, we believe that SunCoke is well positioned for long-term success.
We have the youngest Domestic Coke making facilities in the NAFTA region and continue to invest in our facilities to ensure they operate safely and efficiently.
We have leading technology with outstanding environmental performance and are recognized as the EPA MACT standard.
Our coke production process is the cleanest and least carbon intensive in the world.
We believe some of the older coke supply is coming toward the end of their life cycle and will be retired in the future.
In addition, recent developments in the steel market have created the potential to economically produced pig iron or [Phonetic] consumption by the EAS.
The production of pig iron, the domestic blast furnaces will require coke, which could create opportunities for our company.
We are also entering new foundry and export markets, which provides on customer and market diversification.
On the thermal coal export side, the market is showing signs of recovery.
API2 prices increased by approximately 15% in the fourth quarter versus the prior quarter.
And we have seen substantial increases in export coal shipments from the Gulf Coast and East Coast ports.
We recently signed a new two-year take-or-pay agreement with Javelin to handle coal at CMT. We have also successfully handled iron ore at CMT and we expect that we will continue to handle this new product in 2021, fully repositioning CMT is a multi-year undertaking and it continues to be one of our top priorities.
Turning to Slide 10.
We expect 2021 adjusted EBITDA to be between $215 million and $230 million.
Domestic Coke will contribute an incremental $2 million to $7 million in 2021 as we run our Domestic Coke fleet at full capacity with uncontracted capacity being sold into the export and foundry markets.
We anticipate higher O&M spending as our operations and capital activities return to a more normal level in 2021.
Turning to Logistics segment, we expect logistics to contribute an additional $3 million to $8 million in 2021.
As Mike mentioned, we anticipate that market conditions for coal export will continue to improve, which we anticipate will result in higher volume.
We also see opportunities for incremental volumes from non-coal throughput.
Lastly, we expect our Corporate and Other segment to be better by approximately $4 million to $8 million.
The year-over-year favorability is driven by lower employee-related costs and the absence of certain discrete items such as foundry related R&D expense.
Moving on to Slide 11.
In 2021, we expect our Domestic Coke adjusted EBITDA will be between $219 million and $224 million with sales of approximately 4.1 million tons.
Once again, we expect to run the domestic fleet at full capacity.
Approximately 3.85 million tons are contracted under long-term take-or-pay agreements.
We expect to sell the remaining volumes in the foundry and export markets.
Foundry and export tons do not replace blast furnace tons and a ton per ton basis.
For example, due to the differences in the production price -- process, a single ton of foundry coke replaces approximately 2 tons of blast furnace coke.
These differences are reflected in our sales estimates of 4.1 million tons.
The total sales volume for foundry and export coke is expected to be between 250,000 tons and 270,000 tons, which is the blast furnace equivalent of approximately 400,000 tons.
Our 2021 projections also include lower cost coal cost recovery at our Jewell facility, which is exposed to commodity risk through 2021.
Additionally, lower coal prices in 2021 will drive lower yield gains across our Domestic Coke fleet.
Lastly, we also expect that operating and maintenance costs will be higher in 2021 as compared to 2020.
Certain maintenance and maintenance activities and capital projects were deferred due to constraints imposed by the pandemic as well as lower production.
As production ramps up and the operating conditions normalize, we expect that maintenance spending will normalize as well.
Looking at Slide 12.
2021 Logistics adjusted EBITDA is expected to be between $20 million and $25 million, an increase of $3 million to $8 million versus 2020.
As discussed earlier, we have a new contract with Javelin, which included a 4 million ton take-or-pay volume agreement for 2021 and 3 million tons for 2022.
Given the current coal export market and looking at the API2 forward curve, we are projecting between 4 million tons and 5 million tons of coal to be exported from CMT in 2021.
Additionally, we have also tested iron ore handling at our facility and continue to look for other opportunities.
Our value estimates include between 2.5 million to 3 million tons of non-coke throughput such as pet coke, aggregates and iron ore.
We expect slightly higher volumes at our domestic coal terminals as well with our coke production facilities ramping back up to full production.
But third-party volumes will remain tempered.
We expect to handle 10.5 million tons through our domestic coal terminals in 2021 versus approximately 9.5 million tons handled in 2020.
Overall, we see some positive indication that the commodity market is improving and that the initial success at CMT has achieved in test products will result in potential upside, which is contemplated in the larger guidance range for Logistics adjusted EBITDA in 2021.
Moving to the 2021 guidance summary on Slide 13.
This slide provides a historical view of actual performance across many metrics as well as a summary of our 2021 guidance.
Once again, we expect adjusted EBITDA to be between $215 million and $230 million in 2021.
Our coke operations are expected to ramp back up to full capacity and the Logistics segment had some upside potential with new products and higher coal export volumes.
We anticipate our capex requirement in 2021 will be around $80 million.
This includes some deferred projects from 2020 and is in line with our long-term capital capex estimates on an annual basis.
Our free cash flow is expected to be between $80 million and $100 million after taking into account cash interest, cash taxes, capital expenditures and minimal working capital changes.
So wrapping up on Slide 14.
2021 will be a year to build on our strong foundation.
As always safety and operational performance is top of mind for our organization.
Our efforts will focus on successfully executing against our operating and capital plan in 2021.
We are entering into two new markets for 2021.
We tested these opportunities on a limited basis, but this year will be the first where we participate on an industrial scale.
Our objective is to succeed in these markets by proving ourselves as a reliable supplier of high quality product.
These sales are important for SunCoke success in 2021 as well as in future years.
We will continue to pursue opportunities to optimize our asset base, specifically as it relates to CMT, repositioning Convent Marine Terminal from primarily a coal export terminal to a more diversified terminal will be an area of focus.
SunCoke will continue working toward further expanding our customers and products in 2021.
As we have demonstrated in the past, we will continue to execute our well established and well balanced capital allocation goals, continuing to bring our debt balance down is critical to stabilizing and strengthening our capital structure.
We will continue to evaluate capital needs of our business, our capital structure and the need to reward shareholders on a continuous basis and we'll make capital allocation decisions accordingly.
In total, we are excited and optimistic for the New Year, after battling through an unprecedented 2020.
We see great potential to build on the strength of our core coke making and Logistics franchises to enter new markets, serve new customers, meet our financial targets and create value for our shareholders.
With that, let's go ahead and open it up for Q&A.

user
compname posts q4 loss per share $0.06.
q4 loss per share $0.06.
full-year 2021 consolidated adjusted ebitda is expected to be $215 million to $230 million.
2021 domestic coke total production is expected to be about 4.1 million tons.
2021 capital expenditures are projected to be about $80 million.

assistant