A modified Steinmetz equation suitable for non-sinusoidal operation of magnetic components is presented. The proposed expression has coefficients that may be obtained from the original Steinmetz equation using analytical formulas. Moreover, the functions involved are widely used in daily work in electrical engineering. This leads to simple and general electrical formulas suitable for magnetic power loss estimation in symmetrical power converter design. Using a fitting approach, the model is later extended to cover asymmetrical converter magnetic component applications.