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Operating Segments | 9 Months Ended
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Sep. 30, 2014
Segment Reporting [Abstract] |
Operating Segments | Operating Segments: Effective January 1, 2014, the Company’s assets and businesses were realigned under two operating segments to better align the Company’s resources to support its ongoing business strategy. The Performance Chemicals segment includes the Fire Safety Solutions, Specialty Chemicals and Fine Chemistry Services product categories, consolidating our bromine, mineral and custom manufacturing assets under one business unit. The Catalyst Solutions segment includes the Refinery Catalyst Solutions and Performance Catalyst Solutions product categories. Each segment has a dedicated team of sales, research and development, process engineering, manufacturing and sourcing, and business strategy personnel and has full accountability for improving execution through greater asset and market focus, agility and responsiveness. The new structure also facilitates the continued standardization of business processes across our organization, is consistent with the manner in which information is presently used internally by the Company’s chief operating decision maker to evaluate performance and make resource allocation decisions, and each segment president is responsible for execution of the segment’s business strategy. Segment income represents segment operating profit and equity in net income of unconsolidated investments and is reduced by net income attributable to noncontrolling interests. Segment data includes intersegment transfers of raw materials at cost and allocations for certain corporate costs. Summarized financial information concerning our reportable segments is shown in the following table. Results for 2013 have been recast to reflect the change in operating segments noted above, and segment results for all periods presented exclude discontinued operations as further described in Notes 1 and 15. Corporate & other includes corporate-related items not allocated to the reportable segments. Pension and OPEB service cost (which represents the benefits earned by active employees during the period) and amortization of prior service cost or benefit are allocated to each segment whereas the remaining components of pension and OPEB benefits cost or credit are included in Corporate & other.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
| (In thousands)
Net sales: |  |  |  |  |  |  |
Performance Chemicals | $ | 364,517 |  |  | $ | 365,154 |  |  | $ | 1,048,961 |  |  | $ | 1,059,202 |
Catalyst Solutions | 277,901 |  |  | 226,042 |  |  | 798,021 |  |  | 695,433 |
Total net sales | $ | 642,418 |  |  | $ | 591,196 |  |  | $ | 1,846,982 |  |  | $ | 1,754,635 |
Segment operating profit: |  |  |  |  |  |  |
Performance Chemicals | $ | 86,983 |  |  | $ | 91,506 |  |  | $ | 244,724 |  |  | $ | 265,665 |
Catalyst Solutions | 53,039 |  |  | 47,205 |  |  | 162,169 |  |  | 125,615 |
Total segment operating profit | 140,022 |  |  | 138,711 |  |  | 406,893 |  |  | 391,280 |
Equity in net income of unconsolidated investments: |  |  |  |  |  |  |
Performance Chemicals | 1,744 |  |  | 1,735 |  |  | 7,321 |  |  | 6,371 |
Catalyst Solutions | 6,906 |  |  | 3,603 |  |  | 20,879 |  |  | 18,937 |
Total equity in net income of unconsolidated investments | 8,650 |  |  | 5,338 |  |  | 28,200 |  |  | 25,308 |
Net income attributable to noncontrolling interests: |  |  |  |  |  |  |
Performance Chemicals | (8,546 | ) |  | (7,332 | ) |  | (23,130 | ) |  | (21,250 | )
Total net income attributable to noncontrolling interests | (8,546 | ) |  | (7,332 | ) |  | (23,130 | ) |  | (21,250 | )
Segment income: |  |  |  |  |  |  |
Performance Chemicals | 80,181 |  |  | 85,909 |  |  | 228,915 |  |  | 250,786 |
Catalyst Solutions | 59,945 |  |  | 50,808 |  |  | 183,048 |  |  | 144,552 |
Total segment income | 140,126 |  |  | 136,717 |  |  | 411,963 |  |  | 395,338 |
Corporate & other(a) | (22,995 | ) |  | (9,909 | ) |  | (76,528 | ) |  | (41,715 | )
Restructuring and other charges, net | (293 | ) |  | — |  |  | (20,625 | ) |  | — |
Acquisition and integration related costs | (10,261 | ) |  | — |  |  | (15,104 | ) |  | — |
Interest and financing expenses | (8,749 | ) |  | (9,496 | ) |  | (26,255 | ) |  | (22,335 | )
Other expenses, net | (6,618 | ) |  | (368 | ) |  | (6,454 | ) |  | (6,147 | )
Income tax expense | (11,737 | ) |  | (26,963 | ) |  | (46,700 | ) |  | (72,897 | )
(Loss) income from discontinued operations (net of tax) | (6,679 | ) |  | 531 |  |  | (68,473 | ) |  | 4,994 |
Net income attributable to Albemarle Corporation | $ | 72,794 |  |  | $ | 90,512 |  |  | $ | 151,824 |  |  | $ | 257,238 |
(a) | For the three months ended September 30, 2014 and 2013, Corporate & other includes $(1.9) million and $1.0 million, respectively, of pension and OPEB plan (costs) credits, and for the nine months ended September 30, 2014 and 2013, Corporate & other includes $(15.7) million and $3.1 million, respectively, of pension and OPEB plan (costs) credits.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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