Discontinued Operations and Related Assets Held for Sale (Tables)

12 Months Ended

Dec. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following tables summarize the results of the Engineered Solutions business segment, reclassified as discontinued operations:

	For the Year Ended December 31, 2014			For the Period January 1 Through August 14, 2015			For the Period August 15 Through December 31, 2015			For the Year Ended December 31, 2016
	(dollars in thousands)
Net sales	$	260,160		$	98,024		$	55,608		$	115,336
Cost of sales	235,901			94,817			49,068			98,440
Gross profit	24,259			3,207			6,540			16,896
Research and development	5,107			2,179			1,265			3,145
Selling and administrative expenses	29,550			16,764			8,627			19,220
Rationalizations	3,679			4,492			791			(405		)
Impairment	121,570			—			—			119,907
Operating loss	(135,647		)	(20,228		)	(4,143		)	(124,971		)
Other expense (income)	(485		)	(90		)	(135		)	(66		)
Interest expense	1,320			907			918			3,258
Loss from discontinued operations     before income taxes	(136,482		)	(21,045		)	(4,926		)	(128,163		)
Benefit for income taxes on     discontinued operations	(3,626		)	(2,366		)	—			(1,189		)
Loss from discontinued operations	$	(132,856	)	$	(18,679	)	$	(4,926	)	$	(126,974	)

During 2014, GrafTech impaired certain long-lived assets and announced exiting the isomolded product line within our AGM product group resulting in the above impairment and rationalization charges.

The significant components of our Statements of Cash Flows for discontinued operations held for sale are as follows:

	For the Year Ended December 31, 2014			For the Period January 1 Through August 14, 2015			For the Period August 15 Through September 30, 2015		For the Year Ended December 31, 2016
				(dollars in thousands)
Depreciation and amortization	$	21,780		$	7,988		$	4,194	$	5,277
Impairment	121,570			—			—		119,907
Deferred income taxes	(3,626		)	(2,366		)	—		(1,189		)
Cash received from divestitures	—			—			—		15,889
Capital expenditures	24,018			10,104			4,447		4,713
Credit Facility reductions	—			—			—		(15,889		)

The following table summarizes the carrying value of the assets and liabilities of discontinued operations as of December 31, 2015 and December 31, 2016.

	As of December 31, 2015		As of December 31, 2016
	(dollars in thousands)
Assets of discontinued operations:
Accounts receivable	$	20,425	$	17,094
Inventories	77,332		71,816
Prepaid expenses and other current assets	524		320
Net property plant and equipment	86,369		79,048
Other assets	17,606		12,608
Total assets of discontinued operations prior to impairment	202,256		180,886
Impairment of assets held for sale	—		(119,907		)
Total assets of discontinued operations	$	202,256	$	60,979
Liabilities of discontinued operations:
Accounts payable	$	9,331	$	7,253
Accrued income and other taxes	3,113		2,326
Other accrued liabilities	10,638		10,463
Total current liabilities of discontinued operations	23,082		20,042
Other long-term obligations	1,167		850
Total liabilities of discontinued operations	$	24,249	$	20,892