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Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2015
Segment Reporting [Abstract] |
Reportable Segments Summarized Financial Information |
| Three Months Ended March 31,
| 2015 |  | 2014
| (In thousands)
Net sales: |  |  |
Performance Chemicals | $ | 388,366 |  |  | $ | 275,897 |
Refining Solutions | 179,166 |  |  | 194,661 |
Chemetall Surface Treatment | 192,091 |  |  | — |
All Other | 122,369 |  |  | 129,285 |
Corporate | 2,412 |  |  | — |
Total net sales | $ | 884,404 |  |  | $ | 599,843 |
Adjusted EBITDA: |  |  |
Performance Chemicals | $ | 130,528 |  |  | $ | 73,385 |
Refining Solutions | 42,193 |  |  | 61,034 |
Chemetall Surface Treatment | 46,004 |  |  | — |
All Other | 13,564 |  |  | 20,695 |
Corporate | 33,339 |  |  | (19,084 | )
Total Adjusted EBITDA | $ | 265,628 |  |  | $ | 136,030 |
See below for a reconciliation of adjusted EBITDA, the non-GAAP financial measure, to Net income (loss) attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with GAAP, (in thousands):
| Performance Chemicals |  | Refining Solutions |  | Chemetall Surface Treatment |  | Reportable Segments Total |  | All Other |  | Corporate |  | Consolidated Total
Three months ended March 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA | $ | 130,528 |  |  | $ | 42,193 |  |  | $ | 46,004 |  |  | $ | 218,725 |  |  | $ | 13,564 |  |  | $ | 33,339 |  |  | $ | 265,628 |
Depreciation and amortization | (30,283 | ) |  | (8,110 | ) |  | (18,196 | ) |  | (56,589 | ) |  | (5,498 | ) |  | (1,899 | ) |  | (63,986 | )
Utilization of inventory markup(a) | (28,582 | ) |  | — |  |  | (16,953 | ) |  | (45,535 | ) |  | (2,651 | ) |  | — |  |  | (48,186 | )
Acquisition and integration related costs(b) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (59,523 | ) |  | (59,523 | )
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (35,746 | ) |  | (35,746 | )
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (14,140 | ) |  | (14,140 | )
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,509 |  |  | 3,509 |
Other(c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4,441 | ) |  | (4,441 | )
Net income (loss) attributable to Albemarle Corporation | $ | 71,663 |  |  | $ | 34,083 |  |  | $ | 10,855 |  |  | $ | 116,601 |  |  | $ | 5,415 |  |  | $ | (78,901 | ) |  | $ | 43,115 |
Three months ended March 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA | $ | 73,385 |  |  | $ | 61,034 |  |  | $ | — |  |  | $ | 134,419 |  |  | $ | 20,695 |  |  | $ | (19,084 | ) |  | $ | 136,030 |
Depreciation and amortization(d) | (12,056 | ) |  | (8,680 | ) |  | — |  |  | (20,736 | ) |  | (3,364 | ) |  | (544 | ) |  | (24,644 | )
Restructuring and other charges, net(e) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (17,000 | ) |  | (17,000 | )
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (8,773 | ) |  | (8,773 | )
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (13,190 | ) |  | (13,190 | )
Loss from discontinued operations (net of tax) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,769 | ) |  | (1,769 | )
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (14,071 | ) |  | (14,071 | )
Net income (loss) attributable to Albemarle Corporation | $ | 61,329 |  |  | $ | 52,354 |  |  | $ | — |  |  | $ | 113,683 |  |  | $ | 17,331 |  |  | $ | (74,431 | ) |  | $ | 56,583 |
(a) | In connection with the acquisition of Rockwood, the Company valued Rockwood’s existing inventory at fair value as of the Acquisition Closing Date, which resulted in a markup of the underlying net book value of the inventory totaling approximately $103 million. The inventory markup is being expensed over the estimated remaining selling period. For the three-month period ended March 31, 2015, $40.3 million was included in Cost of goods sold, and Equity in net income of unconsolidated investments was reduced by $7.9 million, related to the utilization of the inventory markup.
(b) | See Note 2, “Acquisitions.”
(c) | Financing-related fees expensed in the 2015 period in connection with the acquisition of Rockwood.
(d) | Excludes discontinued operations.
(e) | See Note 15, “Restructuring and Other.”

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