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Quarterly Financial Summary (Unaudited) | 12 Months Ended
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Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Summary (Unaudited) | Quarterly Financial Summary (Unaudited):
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
| (In thousands, except per share amounts)
2014 |  |  |  |  |  |  |
Net sales | $ | 599,843 |  |  | $ | 604,721 |  |  | $ | 642,418 |  |  | $ | 598,566 |
Gross profit | $ | 195,599 |  |  | $ | 207,363 |  |  | $ | 205,446 |  |  | $ | 162,440 |
Restructuring and other charges, net(a) | $ | 17,000 |  |  | $ | 3,332 |  |  | $ | 293 |  |  | $ | 5,322 |
Acquisition and integration related costs(b) | $ | — |  |  | $ | 4,843 |  |  | $ | 10,261 |  |  | $ | 15,054 |
Net income (loss) from continuing operations | $ | 66,004 |  |  | $ | 89,404 |  |  | $ | 88,019 |  |  | $ | (12,990 | )
Loss from discontinued operations (net of tax)(c) | (1,769 | ) |  | (60,025 | ) |  | (6,679 | ) |  | (1,058 | )
Net income attributable to noncontrolling interests | (7,652 | ) |  | (6,932 | ) |  | (8,546 | ) |  | (4,460 | )
Net income (loss) attributable to Albemarle Corporation | $ | 56,583 |  |  | $ | 22,447 |  |  | $ | 72,794 |  |  | $ | (18,508 | )
Basic earnings (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | 0.73 |  |  | $ | 1.05 |  |  | $ | 1.02 |  |  | $ | (0.22 | )
Discontinued operations | (0.02 | ) |  | (0.76 | ) |  | (0.09 | ) |  | (0.02 | )
| $ | 0.71 |  |  | $ | 0.29 |  |  | $ | 0.93 |  |  | $ | (0.24 | )
Shares used to compute basic earnings per share | 79,735 |  |  | 78,662 |  |  | 78,244 |  |  | 78,144 |
Diluted earnings (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | 0.73 |  |  | $ | 1.04 |  |  | $ | 1.01 |  |  | $ | (0.22 | )
Discontinued operations | (0.02 | ) |  | (0.76 | ) |  | (0.08 | ) |  | (0.02 | )
| $ | 0.71 |  |  | $ | 0.28 |  |  | $ | 0.93 |  |  | $ | (0.24 | )
Shares used to compute diluted earnings per share | 80,112 |  |  | 79,091 |  |  | 78,659 |  |  | 78,545 |
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
| (In thousands, except per share amounts)
2013 |  |  |  |  |  |  |
Net sales | $ | 586,597 |  |  | $ | 576,842 |  |  | $ | 591,196 |  |  | $ | 639,635 |
Gross profit | $ | 195,911 |  |  | $ | 191,670 |  |  | $ | 209,611 |  |  | $ | 253,279 |
Restructuring and other charges, net(a) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 33,361 |
Net income from continuing operations | $ | 87,681 |  |  | $ | 88,500 |  |  | $ | 97,313 |  |  | $ | 162,232 |
Income (loss) from discontinued operations (net of tax) | 1,835 |  |  | 2,628 |  |  | 531 |  |  | (886 | )
Net income attributable to noncontrolling interests | (5,529 | ) |  | (8,389 | ) |  | (7,332 | ) |  | (5,413 | )
Net income attributable to Albemarle Corporation | $ | 83,987 |  |  | $ | 82,739 |  |  | $ | 90,512 |  |  | $ | 155,933 |
Basic earnings (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | 0.93 |  |  | $ | 0.95 |  |  | $ | 1.10 |  |  | $ | 1.93 |
Discontinued operations | 0.02 |  |  | 0.03 |  |  | 0.01 |  |  | (0.01 | )
| $ | 0.95 |  |  | $ | 0.98 |  |  | $ | 1.11 |  |  | $ | 1.92 |
Shares used to compute basic earnings per share | 88,719 |  |  | 84,028 |  |  | 81,385 |  |  | 81,226 |
Diluted earnings (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | 0.92 |  |  | $ | 0.95 |  |  | $ | 1.10 |  |  | $ | 1.92 |
Discontinued operations | 0.02 |  |  | 0.03 |  |  | 0.01 |  |  | (0.01 | )
| $ | 0.94 |  |  | $ | 0.98 |  |  | $ | 1.11 |  |  | $ | 1.91 |
Shares used to compute diluted earnings per share | 89,236 |  |  | 84,489 |  |  | 81,852 |  |  | 81,713 |
(a) | See Note 20, “Restructuring and Other.”
(b) | See Note 23, “Acquisitions.”
(c) | Included in Loss from discontinued operations (net of tax) for the year ended December 31, 2014 is $(65.7) million related to the loss on the sale of our antioxidant, ibuprofen and propofol businesses and assets, the majority of which was recorded in the second quarter. See Note 2, “Discontinued Operations.”
As discussed in Note 1, “Summary of Significant Accounting Policies,” actuarial gains and losses related to our defined benefit pension and OPEB plan obligations are recognized annually in our consolidated statements of income in the fourth quarter and whenever a plan is determined to qualify for a remeasurement during a fiscal year. During the year ended December 31, 2014, actuarial losses were recognized as follows: first quarter—$15.4 million ($9.8 million after income taxes) as a result of the remeasurement of the assets and obligations of (i) our U.S. defined benefit plan which covers non-represented employees, and (ii) our SERP, in connection with the realignment of of our operating segments effective January 1, 2014 and related workforce reduction plan; third quarter—$2.8 million ($1.8 million after income taxes) as a result of the remeasurement of the assets and obligations of one of our U.S. defined benefit plans for represented employees which was part of the businesses and assets we divested on September 1, 2014; fourth quarter—$112.6 million ($71.8 million after income taxes) as a result of the annual remeasurement process. During the year ended December 31, 2013, actuarial gains were recognized as follows: fourth quarter—$139.0 million ($88.3 million after income taxes) as a result of the annual remeasurement process.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=35737889&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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