GRAFTECH INTERNATIONAL LTD. EAF Cash Flow

Graftech international ltd. (EAF)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09
Cash flow from operating activities:
Net income
669,434	744,602	799,312	822,902	827,982	854,219	680,216	476,831	258,000	7,983	-95,749	-114,797	-225,812	-235,843	-213,988	-198,324	-92,743	-111,976	0	0	0	-230,114	-202,801	-42,986	-27,259	29,601	66,857	104,322	117,641	146,057	156,728	143,450	153,184	169,052	154,792	166,970	174,660	139,203	120,030	42,192	15,708	0	0	0
Depreciation and amortization
60,518	61,819	65,054	65,747	65,670	66,413	63,207	64,845	65,462	66,443	71,098	72,957	80,742	82,891	80,789	71,846	66,890	68,002	0	0	0	144,750	145,036	142,682	123,397	95,198	90,165	85,949	81,660	79,503	77,995	78,261	81,953	74,171	64,288	52,359	42,664	38,007	35,232	34,793	32,737	0	0	0
Impairment of long-lived assets
-	-	-	-	-	-	-	-	-	5,300	22,427	22,450	125,250	122,750	0	0	0	-	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Related party Tax Receivable Agreement benefit
47	3,393	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory write-downs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in inventory lower-of-cost-or-market reserve net of depreciation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax provision
17,424	17,503	9,802	6,216	-50,442	-37,078	-30,830	-36,713	4,857	-15,695	-3,373	-3,964	-12,338	-12,062	-7,233	-3,723	-3,037	421	0	0	0	-24,749	-24,370	-21,931	-22,369	3,661	4,682	6,688	8,130	-47,967	-46,867	-48,786	-45,053	-27,345	-15,250	-17,392	-29,028	2,812	-20,241	-20,961	-11,154	0	0	0
Equity in earnings of and gain recorded on acquisition of non-consolidated affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,500	1,181	-1,188	-57,474	-55,488	0	0	0
Post-retirement and pension plan changes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	4,674	-	0	0	0	-9,915	-9,693	-10,673	-10,544	13,180	12,907	13,694	13,349	27,699	28,088	27,073	27,184	11,456	11,032	11,088	11,088	1,611	1,983	5,037	5,545	0	0	0
Loss on extinguishment of debt
-	-	-	-	-	-23,827	-23,827	-23,827	-23,827	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Currency impact
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,928	3,329	913	1,463	3,753	-6,542	2,225	7,153	8,792	10,457	-4,173	-629	0	0	0
Stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	6,106	7,042	6,191	8,035	7,443	6,983	8,429	9,601	10,952	11,390	10,208	8,910	8,456	7,834	7,816	7,355	5,841	5,291	8,107	6,845	0	0	0
Interest expense
6,350	6,344	6,337	6,335	5,779	5,320	5,463	5,584	6,248	6,805	6,768	6,730	6,661	6,551	6,437	5,554	7,862	10,050	0	0	0	14,698	14,604	14,264	14,052	13,738	13,347	12,958	12,500	12,169	11,947	11,737	11,607	9,859	7,323	5,139	2,620	1,746	1,735	1,363	1,366	0	0	0
Other charges, net
-17,725	-21,831	-23,798	-20,040	-16,455	-15,761	1,804	7,574	8,538	9,607	-3,156	-6,757	-1,520	735	4,468	4,580	4,120	613	0	0	0	8,193	8,525	5,284	7,162	-3,592	-7,938	-13,269	-20,001	-17,673	-17,951	-16,165	-11,201	-3,687	-2,010	2,327	4,299	-7,137	-3,719	1,439	6,464	0	0	0
Insurance Recoveries
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-	-	-	-	-
Dividends from non-consolidated affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net change in working capital
-23,626	47,687	114,370	121,715	98,670	177,754	185,896	178,749	179,177	20,004	-36,822	-44,281	-60,753	-68,630	-80,815	-51,269	-51,690	-57,158	0	0	0	-102,560	-113,412	-34,249	-31,980	-138	29,583	68,044	106,220	131,129	147,218	244,248	142,587	260,776	225,724	586	41,790	-194,468	-125,117	-79,347	-67,608	0	0	0
Change in long-term assets and liabilities
7,342	2,489	5,479	6,251	385	583	748	-923	-1,830	4,652	4,320	4,451	10,860	9,367	12,341	10,840	10,765	15,964	0	0	0	23,761	20,244	14,162	15,627	11,346	15,846	16,093	19,267	18,783	11,697	11,410	5,937	12,272	12,673	7,997	5,293	1,213	1,744	6,131	10,907	0	0	0
Net cash provided by operating activities
787,782	805,316	809,131	817,951	852,867	836,603	615,236	410,775	175,309	36,573	27,665	15,103	14,908	22,815	47,934	34,300	34,341	47,335	0	0	0	134,548	161,091	120,928	116,837	152,972	144,513	134,773	101,400	60,907	63,093	62,316	76,597	120,191	113,024	123,387	144,922	102,653	123,833	176,447	170,329	0	0	0
Cash flow from investing activities:
Capital expenditures
63,435	64,103	64,642	68,685	68,765	68,221	59,268	49,954	40,693	34,664	28,629	26,163	27,440	27,858	35,460	33,582	38,875	44,062	0	0	0	92,960	94,290	94,916	86,344	97,599	104,670	109,460	127,728	147,425	156,369	164,280	156,616	136,612	117,590	99,045	86,049	67,131	56,538	54,347	56,220	0	0	0
Insurance proceeds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Derivative instrument settlements, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-377	0	0	128	-	0	0	0	1,311	1,552	2,434	-114	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the sale of assets
207	219	158	167	264	926	2,039	2,896	5,579	5,211	4,474	3,720	1,085	1,121	775	1,189	1,153	1,270	0	0	0	4,079	2,523	1,895	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Cash paid for acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,510	247,704	247,704	247,704	241,204	0	0	0	-	-	-	-
Loan repayment from non-consolidated affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,000	0	0	0	-	-	-	-
(Payments) proceeds from derivative instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-5,685	-2,079	1,459	1,109	-1,529	-601	-1,438	-984	0	0	0
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-929	-2,406	-425	-141	-194	-441	-352	-527	-748	-963	-1,056	-975	-810	-1,289	-1,260	-1,218	-1,126	0	0	0
Net cash used in investing activities
-63,228	-63,884	-64,484	-68,518	-68,501	-67,295	-56,793	-19,804	-7,860	-2,199	20,100	-5,456	-9,836	-10,471	-35,614	-32,788	-37,850	-50,270	0	0	0	-87,262	-88,340	-89,969	-83,801	-93,576	-102,122	-103,189	-119,962	-147,547	-151,762	-159,413	-161,966	-377,139	-362,405	-347,310	-321,552	-57,843	-54,412	-51,674	-60,110	0	0	0
Cash flow from financing activities:
Supply chain financing
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	12,541	18,594	12,659	17,508	13,670	6,526	12,009	2,967	-4,208	-1,486	8,862	-4,970	3,458	20,375	5,544	-10,555	-25,460	-44,008	-33,654	15,711	0	0	0
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,086	3,086	398	448	240	240	197	157	203	1,054	1,350	2,028	4,684	3,952	4,496	3,901	1,696	1,609	772	651	0	0	0
Repurchase of common stock-non-related party
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,601	1,551	1,785	1,825	1,233	18,998	102,441	103,445	133,313	115,441	31,541	30,940	932	948	877	1,431	0	0	0	-	-	-	0
Payments Related to Tax Withholding for Share-based Compensation
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Short-term debt (reductions) borrowings, net
-	-	-	-	-	-12,607	-13,442	-2,534	-6,892	5,110	12,805	-8,568	1,828	7,363	-4,821	-4,500	-5,998	-10,998	0	0	0	-3,200	-2,635	-1,935	-7,265	4,169	-5,489	-9,050	-5,738	-18,003	-3,320	8,520	14,016	18,048	11,480	2,710	-850	-9,769	-11,549	-12,801	-8,128	0	0	0
Credit Facility borrowings
-	-	-	-	-	-	-	-	-	77,000	51,000	54,000	50,000	56,000	80,000	94,000	128,000	136,000	0	0	0	261,000	264,000	175,000	166,000	216,000	263,000	391,000	425,000	750,000	697,000	617,000	584,000	342,000	325,000	232,000	165,000	0	10,000	61,740	124,715	0	0	0
Credit Facility reductions
-	-	-	-	-	45,692	82,776	142,531	160,531	114,839	107,224	56,469	47,469	70,469	88,000	100,000	125,000	134,000	0	0	0	293,000	306,000	184,000	171,500	561,000	563,000	593,000	587,500	503,000	485,000	480,000	482,000	159,000	127,000	84,000	35,000	0	43,231	107,231	155,231	0	0	0
Repayment of Senior Notes
-	-	-	-	-	304,782	304,782	304,782	304,782	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of preferred shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal repayments on long-term debt
225,140	350,140	153,247	181,372	181,372	56,372	0	0	0	-	-	-	-	289	0	0	251	-	0	0	0	194	211	218	225	232	226	227	225	226	245	232	222	178	116	87	56	62	19,968	19,968	20,041	0	0	0
Refinancing fees and debt issuance costs
-	-	-	-	-	27,326	27,326	26,283	20,090	0	0	0	0	-	-	-	-	-	0	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,007	2,148	1,355	-5,210	-1,449	-534	-305	5,215	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	1,073	1,151	783	124	0	0	0
Proceeds from (Repayments of) Long-term Debt and Capital Securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-1,133	-1,117	-1,097	-1,091	0	0	0
Dividends paid to non-related-party
21,345	20,613	63,470	63,546	60,810	55,616	7,651	2,457	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Issuance of Secured Debt
-	-	-	-	-	2,235,000	2,235,000	2,235,000	1,492,500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to related-party
75,441	78,010	238,618	238,617	2,620,151	1,488,649	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-612,939	-709,631	-464,819	-709,614	-878,140	-731,044	-470,799	-235,890	-48,061	-32,995	-43,711	-11,257	3,182	-8,317	-14,018	-13,059	-7,927	-16,268	0	0	0	-46,744	-62,953	-24,404	-37,645	-63,560	-37,918	-32,220	24,112	92,267	88,166	99,474	85,461	202,362	192,317	144,674	138,240	11,573	-22,790	-43,435	-72,875	0	0	0
Net change in cash and cash equivalents
111,615	31,801	279,828	39,819	-93,774	38,264	87,644	155,081	119,388	1,379	4,054	-1,610	8,254	4,027	-1,698	-11,547	-11,436	-19,203	0	0	0	542	9,798	6,555	-4,609	-4,164	4,473	-636	5,550	5,627	-503	2,377	92	-54,586	-57,064	-79,249	-38,390	56,383	46,631	81,338	37,344	0	0	0
Effect of exchange rate changes on cash and cash equivalents
-1,795	-746	-1,171	-704	-2,310	-1,749	-1,513	-871	504	376	175	131	395	656	384	-77	-221	-1,948	0	0	0	-1,134	-56	-535	-820	-559	-624	-877	-662	-774	-1,656	-808	-759	-577	2,984	1,965	1,305	1,455	-884	1,081	1,173	0	0	0
Increase (Decrease) in Operating Capital [Abstract]
Accounts and notes receivable, net
-71,728	404	63,862	93,617	37,775	139,180	68,251	82,081	108,837	-29,755	11,156	7,507	11,883	3,432	-17,088	4,313	-38,543	-25,334	0	0	0	-36,088	-31,448	16,085	-37,366	206	14,577	30,277	5,563	-12,066	-15,727	13,043	68,462	0	0	0	-	-	-	-134,895	-58,210	0	0	0
Effect of factoring of accounts receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39,022	24,268	0	0	0
Inventories
34,080	21,549	52,508	59,889	102,381	126,355	86,694	72,915	15,748	-15,649	86,359	64,671	55,701	53,548	-70,816	-64,975	-44,020	-51,127	0	0	0	-74,329	-90,006	-39,068	-14,324	-15,414	-4,154	-9,571	67,314	131,497	162,417	242,540	111,395	0	0	0	-	-	-	-94,718	-69,630	0	0	0
Prepaid expenses and other current assets
-3,915	-3,929	-4,991	-2,140	-3,787	-7,116	-18,580	-20,358	-22,077	-10,565	-2,407	-2,495	-3,539	-1,424	-11,390	-13,355	-11,775	-22,173	0	0	0	4,720	2,507	3,693	209	10,115	12,134	-620	2,281	-53	2,261	7,848	2,082	0	0	0	-	-	-	-2,446	-904	0	0	0
Income taxes payable
34,397	-18,174	3,544	18,887	22,188	67,054	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring payments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-215	35	0	0	0
Accounts payable and accruals
-51,491	-11,551	-5,948	17,389	18,646	15,724	31,678	39,363	29,017	33,317	19,431	2,484	13,345	12,686	-16,451	-16,800	-35,412	-33,309	0	0	0	-1,729	-8,741	4,904	-38,198	-25,927	-9,258	-54,745	-32,759	-12,017	1,488	19,049	39,097	0	0	0	-	-	-	1,886	-35,908	0	0	0
Rationalizations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-1,379	3,345	9,841	18,421	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest payable
-843	62	-587	-6,625	-3,135	-2,113	-6,231	5,174	-3,043	-114	-86	55	28	75	86	-2,192	-2,143	-2,228	0	0	0	-29	-139	214	276	6,843	2,232	6,787	1,697	266	245	134	255	0	0	0	-	-	-	-441	-925	0	0	0
Increase (Decrease) in Operating Capital
-23,626	47,687	114,370	121,715	98,670	177,754	185,896	178,749	179,177	20,004	-36,822	-44,281	-60,753	-68,630	-80,815	-51,269	-51,690	-57,158	0	0	0	-102,560	-113,412	-34,249	-31,980	-138	29,583	68,044	106,220	131,129	147,218	244,248	142,587	260,776	225,724	586	41,790	-194,468	-125,117	-79,347	-67,608	0	0	0
Repayments of Subordinated Debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-