As a result, we expect graphite electrode demand to remain soft in the fourth quarter of 2022 and into 2023 reflecting market dynamics, which continue to be dictated by geopolitical conflict and economic uncertainty. When is the earnings report. Includes graphite electrode facilities in Calais, France; Monterrey, Mexico; Pamplona, Spain; and St. Marys, Pennsylvania. The tax impact on the non-GAAP adjustments is affected by their tax deductibility and the applicable jurisdictional tax rates.
This includes an acceleration of investment to support the restart of St. Marys, as Marcel previously discussed. Marcel Kessler -- Chief Executive Officer. © Edgar Online, source Glimpses. Dividends paid to related party.
So it will be the restart of St. Marys and/or the starting of pin production at one of our European facilities and/or the securing of sufficient third-party pins. Our liquidity needs through December 31, 2021 were satisfied through a payment of $25, 000 from our sponsor to purchase the founder shares, the loan of approximately $67, 000 from the sponsor under a promissory note, and the proceeds from the consummation of the private placement not held in the trust account. Alex Hacking -- Citi -- Analyst. In this case, the worker's annual Social Security benefit would have been reduced by $2, 827 because they are continuing to work. But on the debt reduction side, at times, your bonds have traded into the mid-70s. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. The ASU also removes certain settlement conditions that are required for equity-linked contracts to qualify for the derivative scope exception, and it simplifies the diluted earnings per share calculation in certain areas. So, Curt, I don't think we are able to provide a lot more detail on the legal path. Production capacity excluding St. Marys (MT)(8)(11). Accounts and notes receivable, net of allowance for doubtful accounts of $7, 288 as of September 30, 2022 and $6, 835 as of December 31, 2021. But I think we are clearly on track to go there as well, but we probably won't be able to see that come to implementation before 2024. More ways to invest how you want. When is the earnings report for graf. Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released.
Net cash provided by (used in) financing activities. Until operations in Monterrey are resumed or mitigation activities are successfully implemented, our ability to fulfill customer orders will be significantly impacted. And then I guess just big picture on the capital allocation going forward, you did highlight that debt reduction will remain a priority. When does rgr report earnings. As of December 31, 2021, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K. JOBS Act. You must click the activation link in order to complete your subscription. Adjusted EBITDA margin is also a non-GAAP financial measure used by our management and our Board of Directors as supplemental information to assess the Company's operational performance and is calculated as adjusted EBITDA divided by net sales.
Meet the experts behind Schwab's investing insights. Transferring Accounts. OK. And then lastly, just there are some -- you've called out weakness in Europe now for a couple of quarters, and it sounds like it has continued to remain weak and potentially even worsen in Q3 and Q4. Our sponsor is Graf Acquisition Partners IV LLC. A shift in the mix of our business to non-LTA volume from volume derived from our take-or-pay agreements that had initial terms of three-to-five years ("LTA") also contributed to the decline in net sales. Good morning, everyone. However, we anticipate a further sequential decline in our sales volume for the fourth quarter, reflecting softness in the graphite electrode demand due to current market dynamics we have discussed. GrafTech International Ltd. - GrafTech Reports Third Quarter 2022 Results. Non-cash expense adjustment for future payment to our sole pre-IPO stockholder for tax assets that are expected to be utilized. The actions we are taking will optimally position GrafTech to benefit from that long-term growth. As Jeremy indicated, we continue to see the working steel industry trends in different geographical regions, but indicators for nearly all regions have softened since our last earnings call. Capital Structure and Capital Allocation.
Gross Domestic Product GDP. The table of estimated shipments of graphite electrodes under existing LTAs has been updated as follows to reflect our current expectations(14)(15): 2023. Hotel & Leisure Terms. I would now like to turn the conference over to Mike Dillon, vice president, investor relations and corporate communications. An aggregate of $72 million of the cash charges have been paid through the third quarter of 2022 and an additional $1 million will be paid in subsequent quarters, as a result of the timing of related payroll tax payments. We are electing to delay the adoption of new or revised accounting standards, and as a result, we may not comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. The substantial majority of the pins that are required to achieve what we're talking about are already in inventory in one form or another. Total stockholders' equity. EAF Stock Price | GrafTech International Ltd. Stock Quote (U.S.: NYSE. 0 million, and incurring offering costs of approximately $8. However, we hope to be able to provide more detail and clarity on the situation as soon as possible. 3 times on a net basis.
00 per unit, generating gross proceeds of $150. Adjusted EBITDA was $129 million, a decrease of 25% compared to the third quarter of 2021, reflecting the lower sales volume and higher year-over-year costs. What -- there was a commentary around -- well, there's -- I have a few follow-ups here. Our presentations of EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted EPS, free cash flow, adjusted free cash flow and adjusted free cash flow conversion should not be construed as suggesting that our future results will be unaffected by these expenses or any unusual or non‑recurring items. I mean, should we kind of just keep in mind that 3:1 rule of thumb? Production volume was 38 thousand MT in the third quarter of 2022, a decrease of 5% compared to the third quarter of 2021. In addition, the suspension of our Monterrey operations will constrain our electrode and pin production capabilities, impacting our ability to fulfill certain customer orders. Selling and administrative expenses. Operator instructions] This call is being recorded on Friday, November 4, 2022. We strongly disagree with the conclusion to suspend our operations and we believe this measure is in no way commensurate with the findings of the state inspectors. Cash flow from operating activities. GFOR Stock Price Pattern Around Earnings Graf Acquisition Corp. IV. Next question comes from Curt Woodworth of Credit Suisse. Employment Situation. Let me now turn to Slide 5 for an update on steel industry trends as context for our third-quarter results.
Jeremy, do you want to take that one? We are confident that these actions, supported by an industry-leading position and our sustainable competitive advantages, will optimally position GrafTech to benefit from the long-term growth of the graphite electrode market and to deliver future shareholder value. Is there any more color you can say? The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. Explore ways to invest >. First of all, on the pin situation, every graphic electrode needs to pin and the commentary was volume down 50% if things don't change in Monterrey. As we have indicated, the current environment for the steel industry remains in flux. Accrued income and other taxes. Master Limited Partnerships (MLPs). GrafTech International Ltd. (NYSE:EAF) (the "Company") will hold its Third Quarter 2022 Earnings Conference Call and Webcast on Friday, November 4, 2022 at 10:00 a. m. (EDT). The fair value of the private placement warrants as of December 31, 2021 is determined using Black-Scholes option pricing model. Turning to our next slide. We have assets that were behaving the way that we expected them to and we would look to restart them exactly as they were. Stock-based compensation expense(4).
Adjusted free cash flow conversion is calculated as adjusted free cash flow divided by adjusted EBITDA (Q3 2022 adjusted free cash flow of $52. Shares of GrafTech International Ltd. fell 2% in their first few minutes of trading Thursday, after the company priced its initial public offering at $15, well below its $21 to $24 price range. The inclusion of this forward-looking information should not be regarded as a representation by us that the future plans, estimates, or expectations contemplated by us will be achieved.