GRAFTECH INTERNATIONAL LTD
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
EAF$10.29-3.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flow from operating activities: | ||
| Net loss | $(81,689) | $(37,841) |
| Adjustments to reconcile net loss to cash (used in) provided by operations: | ||
| Depreciation and amortization | 46,135 | 43,053 |
| Deferred income tax benefit | (11,743) | (10,297) |
| Non-cash stock-based compensation expense | 4,446 | 3,809 |
| Non-cash interest expense | (3,578) | 10,249 |
| Lower of cost or market inventory valuation adjustment | 11,916 | — |
| Other adjustments | 4,981 | (3,278) |
| Net change in working capital* | 29,711 | 64,833 |
| Change in Tax Receivable Agreement | (5,417) | (4,631) |
| Change in long-term assets and liabilities | (8,438) | 1,372 |
| Net cash (used in) provided by operating activities | (13,676) | 67,269 |
| Cash flow from investing activities: | ||
| Capital expenditures | (21,517) | (48,287) |
| Proceeds from the sale of fixed assets | 100 | 220 |
| Net cash used in investing activities | (21,417) | (48,067) |
| Cash flow from financing activities: | ||
| Interest rate swap settlements | — | 27,453 |
| Debt issuance and modification costs | — | (8,133) |
| Proceeds from the issuance of long-term debt, net of original issuance discount | — | 438,552 |
| Principal payments on long-term debt | — | (433,708) |
| Payments for taxes related to net share settlement of equity awards | (82) | (129) |
| Dividends paid | — | (5,134) |
| Principal payments under finance lease obligations | (58) | (20) |
| Net cash (used in) provided by financing activities | (140) | 18,881 |
| Net change in cash and cash equivalents | (35,233) | 38,083 |
| Effect of exchange rate changes on cash and cash equivalents | (239) | 83 |
| Cash and cash equivalents at beginning of period | 176,878 | 134,641 |
| Cash and cash equivalents at end of period | $141,406 | $172,807 |
| * Net change in working capital due to changes in the following components: | ||
| Accounts and notes receivable, net | $11,201 | $48,007 |
| Inventories | 50,105 | 69,258 |
| Prepaid expenses and other current assets | 2,810 | 4,974 |
| Income taxes payable | (2,616) | (31,356) |
| Accounts payable and accruals | (48,666) | (43,391) |
| Interest payable | 16,877 | 17,341 |
| Net change in working capital | $29,711 | $64,833 |
| Net cash paid during the periods for: | ||
| Interest | $34,440 | $1,470 |
| Income taxes | $4,377 | $36,471 |
| Non-cash investing activities: | ||
| Change in capital expenditures in accounts payable | $(7,334) | $(19,098) |
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