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Discontinued Operations and Related Assets Held for Sale (Tables) | 12 Months Ended
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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 |

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760 + Details
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