10-Q Filing

GRAFTECH INTERNATIONAL LTD CIK: 931148 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0000931148-14-000056`
Period End Date	20140331
Filing Date	20140425
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	gti-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 42 Cash Flow Statement 72 Comprehensive Income 2

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Accounts and notes receivable, net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$6.72M	USD	Point-in-time
Accounts and notes receivable, net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$7.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.89M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.30M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.32M	USD	Point-in-time
Accounts and notes receivable, net of allowance for doubtful accounts of $6,718 as of December 31, 2013 and $8,629 as of March 31, 2014	`AccountsNotesAndLoansReceivableNetCurrent`	$205.69M	USD	Point-in-time
Accounts and notes receivable, net of allowance for doubtful accounts of $6,718 as of December 31, 2013 and $8,629 as of March 31, 2014	`AccountsNotesAndLoansReceivableNetCurrent`	$199.57M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$490.41M	USD	Point-in-time
Inventories	`InventoryNet`	$491.27M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$81.28M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$73.79M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	225.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$775.66M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	225.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$795.57M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$1.60B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	150.87M	shares	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$1.59B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	151.93M	shares	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$767.89M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$797.63M	USD	Point-in-time
Cost of common stock held in treasury, shares	`TreasuryStockShares`	16.42M	shares	Point-in-time
Cost of common stock held in treasury, shares	`TreasuryStockShares`	16.34M	shares	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$820.99M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$798.38M	USD	Point-in-time
Common stock held in employee benefit and compensation trusts, shares	`CommonStockSharesHeldInEmployeeTrustShares`	76,095.00	shares	Point-in-time
Common stock held in employee benefit and compensation trusts, shares	`CommonStockSharesHeldInEmployeeTrustShares`	87,206.00	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$10.12M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$10.33M	USD	Point-in-time
Goodwill	`Goodwill`	$496.80M	USD	Point-in-time
Goodwill	`Goodwill`	$496.80M	USD	Point-in-time
Goodwill	`Goodwill`	$496.81M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$108.63M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$114.06M	USD	Point-in-time
Total assets	`Assets`	$2.22B	USD	Point-in-time
Total assets	`Assets`	$2.21B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$115.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$118.86M	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$1.16M	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$168.00K	USD	Point-in-time
Accrued income and other taxes	`TaxesPayableCurrent`	$30.69M	USD	Point-in-time
Accrued income and other taxes	`TaxesPayableCurrent`	$26.32M	USD	Point-in-time
Restructuring and Related Liability	`RestructuringandRelatedLiability`	$18.42M	USD	Point-in-time
Restructuring and Related Liability	`RestructuringandRelatedLiability`	$10.01M	USD	Point-in-time
Supply chain financing liability	`OtherShortTermBorrowings`	$9.46M	USD	Point-in-time
Supply chain financing liability	`OtherShortTermBorrowings`	-	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$46.34M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$40.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$201.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$215.88M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$541.59M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$554.51M	USD	Point-in-time
Other long-term obligations	`OtherLiabilitiesNoncurrent`	$97.95M	USD	Point-in-time
Other long-term obligations	`OtherLiabilitiesNoncurrent`	$96.74M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$41.68M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$42.73M	USD	Point-in-time
Preferred stock, par value $.01, 10,000,000 shares authorized, none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.01, 10,000,000 shares authorized, none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $.01, 225,000,000 shares authorized, 151,929,565 shares issued as of December 31, 2013 and 152,051,994 shares issued as of March 31, 2014	`CommonStockValue`	$1.52M	USD	Point-in-time
Common stock, par value $.01, 225,000,000 shares authorized, 151,929,565 shares issued as of December 31, 2013 and 152,051,994 shares issued as of March 31, 2014	`CommonStockValue`	$1.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.82B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.82B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-290.55M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-292.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$39.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$28.11M	USD	Point-in-time
Less: cost of common stock held in treasury, 16,341,311 shares as of December 31, 2013 and 16,287,128 shares as of March 31, 2014	`TreasuryStockValue`	$246.29M	USD	Point-in-time
Less: cost of common stock held in treasury, 16,341,311 shares as of December 31, 2013 and 16,287,128 shares as of March 31, 2014	`TreasuryStockValue`	$247.19M	USD	Point-in-time
Less: common stock held in employee benefit and compensation trusts, 87,206 shares as of December 31, 2013 and 89,087 shares as of March 31, 2014	`CommonStockIssuedEmployeeStockTrust`	$1.03M	USD	Point-in-time
Less: common stock held in employee benefit and compensation trusts, 87,206 shares as of December 31, 2013 and 89,087 shares as of March 31, 2014	`CommonStockIssuedEmployeeStockTrust`	$1.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.31B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.32B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.21B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.22B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$280.79M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$253.73M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$255.10M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$205.18M	USD	1 Quarter
Gross profit	`GrossProfit`	$48.55M	USD	1 Quarter
Gross profit	`GrossProfit`	$25.69M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.77M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.09M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$29.91M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$29.71M	USD	1 Quarter
Restructuring and Related Cost, Incurred Cost	`RestructuringAndRelatedCostIncurredCost`	$86.00K	USD	1 Quarter
Restructuring and Related Cost, Incurred Cost	`RestructuringAndRelatedCostIncurredCost`	-	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$15.74M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$-7.07M	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-794.00K	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-550.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$9.01M	USD	1 Quarter
Interest expense	`InterestExpense`	$9.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$58.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$64.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.25M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-16.80M	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$-5.29M	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$2.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$-11.52M	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$-0.08	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	134.65M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	135.73M	shares	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	134.83M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	135.73M	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.39M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-7.31M	USD	1 Quarter
Commodities and foreign currency derivatives and other, net of tax of ($307) and $116, respectively	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$3.53M	USD	1 Quarter
Commodities and foreign currency derivatives and other, net of tax of ($307) and $116, respectively	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-315.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax:	`OtherComprehensiveIncomeLossNetOfTax`	$-3.78M	USD	1 Quarter
Other comprehensive income (loss), net of tax:	`OtherComprehensiveIncomeLossNetOfTax`	$2.07M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$-9.45M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$434.00K	USD	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$-11.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$20.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$39.66M	USD	1 Quarter
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$-1.66M	USD	1 Quarter
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$-1.22M	USD	1 Quarter
Post-retirement and pension plan changes	`PensionAndOtherPostretirementBenefitExpense`	$1.01M	USD	1 Quarter
Post-retirement and pension plan changes	`PensionAndOtherPostretirementBenefitExpense`	$1.14M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$522.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.37M	USD	1 Quarter
Interest expense	`PaidInKindInterest`	$3.65M	USD	1 Quarter
Interest expense	`PaidInKindInterest`	$3.43M	USD	1 Quarter
Other charges, net	`OtherNoncashExpense`	$285.00K	USD	1 Quarter
Other charges, net	`OtherNoncashExpense`	$-1.59M	USD	1 Quarter
Increase in long-term assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$3.22M	USD	1 Quarter
Increase in long-term assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.75M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$22.09M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.16M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.73M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.90M	USD	1 Quarter
Proceeds from derivative instruments	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$367.00K	USD	1 Quarter
Proceeds from derivative instruments	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$-2.18M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-3.06M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.14M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.97M	USD	1 Quarter
Short-term debt borrowings (reductions), net	`ProceedsFromRepaymentsOfShortTermDebt`	$-6.32M	USD	1 Quarter
Short-term debt borrowings (reductions), net	`ProceedsFromRepaymentsOfShortTermDebt`	$-994.00K	USD	1 Quarter
Revolving Facility borrowings	`ProceedsFromLinesOfCredit`	$66.00M	USD	1 Quarter
Revolving Facility borrowings	`ProceedsFromLinesOfCredit`	$75.00M	USD	1 Quarter
Revolving Facility reductions	`RepaymentsOfLinesOfCredit`	$65.00M	USD	1 Quarter
Revolving Facility reductions	`RepaymentsOfLinesOfCredit`	$52.50M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$99.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$92.00K	USD	1 Quarter
Supply chain financing	`SupplyChainFinancing`	$9.46M	USD	1 Quarter
Supply chain financing	`SupplyChainFinancing`	$14.30M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$82.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$132.00K	USD	1 Quarter
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$181.00K	USD	1 Quarter
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$141.00K	USD	1 Quarter
Proceeds from (Payments for) Other Financing Activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$918.00K	USD	1 Quarter
Proceeds from (Payments for) Other Financing Activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-5.65M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$318.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.92M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.90M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.26M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-114.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$171.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.89M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.30M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.32M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.32M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.89M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.32M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.32M	USD	Point-in-time
Accounts and notes receivable, net	`IncreaseDecreaseInAccountsAndNotesReceivable`	$5.68M	USD	1 Quarter
Accounts and notes receivable, net	`IncreaseDecreaseInAccountsAndNotesReceivable`	$-47.77M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$23.79M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-955.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.67M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.19M	USD	1 Quarter
Decrease in accounts payables and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-36.60M	USD	1 Quarter
Decrease in accounts payables and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.51M	USD	1 Quarter
Change in Rationalization Liability	`ChangeinRationalizationLiability`	$-8.58M	USD	1 Quarter
Change in Rationalization Liability	`ChangeinRationalizationLiability`	-	USD	1 Quarter
Decrease in interest payable	`IncreaseDecreaseInInterestPayableNet`	$4.81M	USD	1 Quarter
Decrease in interest payable	`IncreaseDecreaseInInterestPayableNet`	$4.87M	USD	1 Quarter
Increase in working capital	`IncreaseDecreaseInOperatingCapital`	$8.93M	USD	1 Quarter
Increase in working capital	`IncreaseDecreaseInOperatingCapital`	$6.67M	USD	1 Quarter

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Commodities and foreign currency derivatives, net of tax of	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$116.00K	USD	1 Quarter
Commodities and foreign currency derivatives, net of tax of	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$-300.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.