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Stockholders' Equity
12 Months Ended
Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Stockholders' Equity Stockholders' Equity (Deficit)
    The following information should be read in conjunction with the Consolidated Statement of Stockholders' Equity (Deficit).
    Follow-on Offerings and Common Stock Repurchases
On December 5, 2019, GrafTech announced two separate transactions. The first was a Rule 144 secondary block trade in which Brookfield sold 11,175,927 shares of GrafTech common stock at a price of $13.125 per share to a broker-dealer who placed the shares with institutional and other investors. Separately, GrafTech entered into a share repurchase agreement with Brookfield to repurchase $250 million of stock from Brookfield at the arm's length price of $13.125 per share, set by the competitive bidding process of the secondary block trade. As a result, GrafTech repurchased 19,047,619 shares of common stock, reducing total shares outstanding at the time by approximately 7%.
Brookfield has since distributed a portion of its GrafTech common stock to the owners in the Brookfield consortium and sold shares of GrafTech common stock in public and private transactions, resulting in Brookfield's ownership of outstanding shares of GrafTech common stock decreasing to 55.3% as of December 31, 2020 and 24.3% as of December 31, 2021.
We announced on July 31, 2019, that our Board of Directors authorized a program to repurchase up to $100 million of our outstanding common stock. We may purchase shares from time to time on the open market, including under Rule 10b5-1 and/or Rule 10b-18 plans. The amount and timing of repurchases are subject to a variety of factors including liquidity, stock price, applicable legal requirements, other business objectives and market conditions. On November 4, 2021, we announced that our Board of Directors approved an additional $150 million open market stock repurchase authorization. The stock repurchase program does not have an expiration date.
We repurchased 1,004,685 shares for $10.9 million in 2019, 3,328,574 shares for $30.1 million in 2020 and 4,658,544 shares for $50.0 million in 2021, under the stock repurchase program.
As of December 31, 2021, we are authorized to repurchase up to $159 million in shares of our common stock under the stock repurchase program, inclusive of the amount remaining under the previous authorization.
Dividends
    The Company paid regular quarterly dividends of $0.085 through the first quarter of 2020. Effective in the second quarter of 2020, the regular quarterly dividend was reduced to $0.01 per share.
Accumulated other comprehensive loss
The balance in our Accumulated other comprehensive loss is set forth in the following table:
 As of
December 31, 2021
As of
December 31, 2020
 (Dollars in thousands)
Foreign currency translation adjustments, net of tax$(22,330)$(2,725)
Commodities and interest rate derivatives, net of tax14,886 (16,916)
Total accumulated other comprehensive loss$(7,444)$(19,641)