AK Steel Corp. Tuesday reported a $1 billion loss for all of last year.

Last year’s results include a pre-tax pension corridor charge and noncash income tax charges. When the pension charge and tax asset valuation are excluded, AK Steel had an adjusted net loss of $64.4 million for the full year 2012.

In 2011, the company’s net loss was $155.6 million.

Sales last year totaled $5.93 billion, a decrease of eight percent compared to sales of $6.47 billion for 2011.

“Sluggish economic conditions impacted global demand and selling prices for steel products during the fourth quarter and the full-year of 2012,” said James Wainscott, chairman, president and chief executive officer of AK Steel in a statement. “That said, AK Steel remains well-positioned to take advantage of market opportunities with its high quality, valued-added steels as the economy continues to slowly recover. Taking everything into account, we expect a significantly better first quarter and full-year 2013.”

AK Steel ended 2012 with total liquidity of approximately $1.1 billion, consisting of $227 million of cash and cash equivalents and $871.9 million available under the company’s revolving credit facility.

The company added that earnings for 2012 were negatively affected compared to 2011 by a decrease in steel shipments and spot market selling prices, as well as higher coke costs. Partially offsetting the negative impact were decreases in costs for carbon scrap, iron ore and energy.