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Discontinued Operations and Related Assets Held for Sale
 9 Months Ended
Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
Discontinued Operations and Related Assets Held for Sale
On February 26, 2016, the Company announced that it had initiated a strategic review of its Engineered Solutions business segment to better direct its resources and simplify its operations. Any potential sale of assets was prohibited by the Revolving Facility without approval of the requisite lenders thereunder. On April 27, 2016, GrafTech and certain of its subsidiaries entered into an amendment to the Revolving Facility (see Note 8 "Debt and Liquidity") which, among other things, permits the sale of assets with the restriction that the proceeds be utilized to pay down revolver borrowings. As of June 30, 2016, the Engineered Solutions segment qualified for reporting as discontinued operations as we expect the divestiture to be complete within 12 months of the qualification.
During the second quarter, we evaluated the fair value of the Engineered Solutions business segment utilizing the market approach (Level 3 measure). As a result, we incurred an impairment charge to our Engineered Solutions business segment of $105.6 million to align the carrying value with estimated fair value. The analysis was updated as of September 30, 2016, and did not result in further adjustment. The estimate reflects Management’s view of the manner in which the Engineered Solutions business will be divested, including  assumptions as to if and how it will be split, given the lines of business and asset groups that constitute the Engineered Solutions segment. Amongst other things, the split into groups influences the computation of the impairment charge. The impairment charge and resulting loss in the nine months ended September 30, 2016 is not offset by expected gains on certain group(s), and as a result may or may not later be partially offset through gains depending on the outcome of the divestiture. These assumptions and estimates are subject to change until divestiture is completed and may be adjusted in the quarter that the information becomes available.
The following tables summarize the results of the Engineered Solutions business segment, reclassified as discontinued operations for the three and nine months ended September 30, 2015 and 2016.
 
For the Period July 1 2015 Through August 14, 2015
 
For the Period August 15, 2015 Through September 30, 2015
 
For the Three Months Ended September 30, 2016
 
(dollars in thousands)
Net sales
$
13,994

 
$
19,816

 
$
30,165

Cost of sales
16,779

 
17,712

 
23,497

    Gross profit (loss)
(2,785
)
 
2,104

 
6,668

Research and development
501

 
440

 
707

Selling and administrative expenses
4,557

 
2,797

 
4,113

Rationalizations
743

 
681

 
(130
)
    Operating (loss) income
(8,586
)
 
(1,814
)
 
1,978

Other expense (income)
(26
)
 
(24
)
 
(3
)
Interest expense
212

 
351

 
783

(Loss) income from discontinued operations
    before income taxes
(8,772
)
 
(2,141
)
 
1,198

Provision for (benefit from) income
    taxes on discontinued operations
1,879

 
274

 
(64
)
(Loss) income from discontinued operations
$
(6,893
)
 
$
(1,867
)
 
$
1,134

 
For the Period January 1 Through August 14, 2015
 
For the Period August 15, 2015 Through September 30, 2015
 
For the Nine Months Ended September 30, 2016
 
(dollars in thousands)
Net sales
$
98,024

 
$
19,816

 
$
89,184

Cost of sales
94,817

 
17,712

 
74,051

    Gross profit
3,207

 
2,104

 
15,133

Research and development
2,179

 
440

 
2,398

Selling and administrative expenses
16,008

 
2,797

 
13,674

Rationalizations
5,248

 
681

 
(200
)
Impairment
—

 
—

 
105,623

    Operating loss
(20,228
)
 
(1,814
)
 
(106,362
)
Other expense (income)
(90
)
 
(24
)
 
(75
)
Interest expense
907

 
351

 
2,452

Loss from discontinued operations
    before income taxes
(21,045
)
 
(2,141
)
 
(108,739
)
Provision for income taxes on
    discontinued operations
2,366

 
274

 
1,171

Loss from discontinued operations
$
(18,679
)
 
$
(1,867
)
 
$
(107,568
)



The significant components of our Statements of Cash Flows for the Engineered Solutions business segment held for sale are as follows:
 
For the Period January 1 Through August 14, 2015
 
For the Period August 15 Through September 30, 2015
 
For the
Nine Months Ended September 30, 2016
 
(dollars in thousands)
 
 
Depreciation and amortization
$
7,988

 
$
1,931

 
$
3,849

Impairment
—

 
—

 
105,623

Deferred income taxes
(2,366
)
 
(273
)
 
(1,172
)
Capital expenditures
10,104

 
1,229

 
3,621

The following table summarizes the carrying value of the assets and liabilities of discontinued operations as of December 31, 2015 and September 30, 2016.
 
As of
December 31, 2015
 
As of
September 30, 2016
 
(dollars in thousands)
Assets of discontinued operations:
 
 
 
  Accounts receivable
$
20,425

 
$
20,842

  Inventories
77,332

 
77,719

  Prepaid expenses and other current assets
524

 
643

  Net property plant and equipment
86,369

 
87,099

  Other assets
17,606

 
14,183

     Total assets of discontinued operations prior to impairment
202,256

 
200,486

 
 
 
 
  Impairment upon reclassification to held for sale
—

 
(105,600
)
 
 
 
 
         Total assets of discontinued operations
$
202,256

 
$
94,886

 
 
 
 
Liabilities of discontinued operations:
 
 
 
  Accounts payable
$
9,331

 
$
5,830

  Accrued income and other taxes
3,113

 
2,163

  Other accrued liabilities
10,638

 
8,960

     Total current liabilities of discontinued operations
23,082

 
16,953

 
 
 
 
  Other long-term obligations
1,167

 
867

 
 
 
 
          Total liabilities of discontinued operations
$
24,249

 
$
17,820