2 unchanged sentences
Our common stock IPO was completed on April 23, 2018 and our stock is listed on the NYSE under the trading symbol “EAF.”
−Removed: As of December 31, 2019 , there were two holders of record of our common stock.
+Added: As of December 31, 2020, there were three holders of record of our common stock.
Dividend Policies and Restrictions
7 unchanged sentences
The table below sets forth the information on a monthly basis regarding GrafTech's purchases of its common stock, par value $0.01 per share, during the fourth quarter of 2020.
−Removed: Total Number of Shares Purchased
−Removed: Average Price Paid per Share
−Removed: Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
−Removed: Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
+Added: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (1)
October 1 through October 31, 2020 — $ — — $ 59,030,305
1 unchanged sentence
December 1 through December 31, 2020 — $ — — —
−Removed: (1) Represents shares repurchased in open market transactions pursuant to the Share Repurchase Program (as defined below).
−Removed: Share repurchases were made pursuant to our previously announced program to repurchase, which was authorized by our Board of Directors on July 30, 2019 (“Share Repurchase Program”).
+Added: Total — — $ 59,030,305
+Added: (1) Authorization remaining pursuant to our previously announced program to repurchase, which was authorized by our Board of Directors on July 30, 2019 (the “Share Repurchase Program”).
The Share Repurchase Program was announced on July 31, 2019 and allows for the purchase of up to $100 million of outstanding shares of our common stock from time to time on the open market, including under Rule 10b5-1 and/or Rule 10b-18 plans.
The Share Repurchase Program has no expiration date.
−Removed: (2) Represents shares repurchased directly from Brookfield, our majority stockholder.
Selected Financial Data
The data set forth below should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the Consolidated Financial Statements and Notes thereto.
−Removed: As a result of business combination accounting resulting from our acquisition by Brookfield, our financial statements are separated into two distinct periods, the period before the consummation of our acquisition by Brookfield (labeled “Predecessor”) and the period after that date (labeled “Successor”), to indicate the application of the different basis of accounting between the periods presented.
−Removed: There were no operational activities that changed as a result of our acquisition by Brookfield.
Year Ended December 31,
−Removed: For the Period August 15 Through December 31, 2015
−Removed: For the Period January 1 Through August 14, 2015 (d)
+Added: 2020 2019 2018 2017 (d)
(in thousands, except per share amounts)
Statement of Operations Data:
+Added: Net sales $ 1,224,361 $ 1,790,793 $ 1,895,910 $ 550,771 $ 437,963
Income (loss) from
5 unchanged sentences
operations per share $ 1.62 $ 2.58 $ 2.87 $ 0.05 $ (0.36)
−Removed: Weighted average common shares outstanding (a)
+Added: Weighted average common
+Added: shares outstanding (a) 267,916 289,057 297,748 302,226 302,226
Dividends per common share (b) $ 0.12 $ 0.34 $ 7.71 $ — $ —
1 unchanged sentence
(at period end):
+Added: Total assets $ 1,432,712 $ 1,526,164 $ 1,505,491 $ 1,199,103 $ 1,172,276
Other long-term obligations (c) 81,478 72,562 72,519 68,907 82,148
5 unchanged sentences
investing activities (35,696) (63,884) (67,295) (2,199) (10,471)
−Removed: Net cash (used in) provided by
+Added: Net cash used in
financing activities (463,683) (709,631) (731,044) (32,995) (8,317)
−Removed: Successor period data gives effect to the 3,022,259.23-for-1 stock split on our common stock effected on April 12, 2018.
−Removed: 2018 calculated by total dividends paid of $2,294,265 divided by weighted average shares outstanding.
+Added: (a) Gives effect to the 3,022,259.23-for-1 stock split on our common stock effected on April 12, 2018.
+Added: (b) 2018 calculated by total dividends paid of $2,294,265 divided by weighted average shares outstanding.
$2,022,000 of these dividends were declared and paid to Brookfield prior to our IPO.
All other dividends were declared and paid to all common stockholders.
−Removed: Represents pension and post-retirement benefits and related costs and miscellaneous other long-term obligations.
−Removed: A closing balance sheet as of August 14, 2015 was not required as part of previous filings.
+Added: (c) Represents pension and post-retirement benefits and related costs and miscellaneous other long-term obligations.
+Added: (d) 2016 and 2017 results included discontinued operations related to business units that have since been disposed.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.