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Segment and Geographic Area Information (Tables) | 12 Months Ended
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Dec. 31, 2015
Segment Reporting [Abstract] |
Summarized Financial Information by Reportable Segments |
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Net sales: |  |  |  |  |
Performance Chemicals | $ | 1,610,319 |  |  | $ | 1,121,645 |  |  | $ | 1,141,890 |
Refining Solutions | 729,261 |  |  | 852,139 |  |  | 775,207 |
Chemetall Surface Treatment | 824,906 |  |  | — |  |  | — |
All Other | 471,434 |  |  | 471,764 |  |  | 477,173 |
Corporate | 15,415 |  |  | — |  |  | — |
Total net sales | $ | 3,651,335 |  |  | $ | 2,445,548 |  |  | $ | 2,394,270 |
Adjusted EBITDA: |  |  |  |  |
Performance Chemicals | $ | 535,520 |  |  | $ | 306,572 |  |  | $ | 364,712 |
Refining Solutions | 197,595 |  |  | 256,485 |  |  | 190,388 |
Chemetall Surface Treatment | 202,028 |  |  | — |  |  | — |
All Other | 53,993 |  |  | 73,973 |  |  | 71,691 |
Corporate | (29,814 | ) |  | (74,875 | ) |  | (69,240 | )
Total adjusted EBITDA | $ | 959,322 |  |  | $ | 562,155 |  |  | $ | 557,551 |
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
2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA | $ | 535,520 |  |  | $ | 197,595 |  |  | $ | 202,028 |  |  | $ | 935,143 |  |  | $ | 53,993 |  |  | $ | (29,814 | ) |  | $ | 959,322 |
Depreciation and amortization | (120,248 | ) |  | (34,039 | ) |  | (78,903 | ) |  | (233,190 | ) |  | (18,183 | ) |  | (8,703 | ) |  | (260,076 | )
Utilization of inventory markup(a) | (79,977 | ) |  | — |  |  | (20,030 | ) |  | (100,007 | ) |  | (3,029 | ) |  | — |  |  | (103,036 | )
Restructuring and other, net(c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,804 |  |  | 6,804 |
Acquisition and integration related costs(b) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (146,096 | ) |  | (146,096 | )
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (132,722 | ) |  | (132,722 | )
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (29,122 | ) |  | (29,122 | )
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 46,244 |  |  | 46,244 |
Other(d) | — |  |  | (1,971 | ) |  | — |  |  | (1,971 | ) |  | — |  |  | (4,441 | ) |  | (6,412 | )
Net income (loss) attributable to Albemarle Corporation | $ | 335,295 |  |  | $ | 161,585 |  |  | $ | 103,095 |  |  | $ | 599,975 |  |  | $ | 32,781 |  |  | $ | (297,850 | ) |  | $ | 334,906 |
2014 |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA | $ | 306,572 |  |  | $ | 256,485 |  |  | $ | — |  |  | $ | 563,057 |  |  | $ | 73,973 |  |  | $ | (74,875 | ) |  | $ | 562,155 |
Depreciation and amortization(e) | (51,707 | ) |  | (32,670 | ) |  | — |  |  | (84,377 | ) |  | (13,478 | ) |  | (2,552 | ) |  | (100,407 | )
Restructuring and other, net(c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (25,947 | ) |  | (25,947 | )
Acquisition and integration related costs(b) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (30,158 | ) |  | (30,158 | )
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (41,358 | ) |  | (41,358 | )
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (18,484 | ) |  | (18,484 | )
(Loss) income from discontinued operations (net of tax) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (69,531 | ) |  | (69,531 | )
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (125,462 | ) |  | (125,462 | )
Other(d) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (17,492 | ) |  | (17,492 | )
Net income (loss) attributable to Albemarle Corporation | $ | 254,865 |  |  | $ | 223,815 |  |  | $ | — |  |  | $ | 478,680 |  |  | $ | 60,495 |  |  | $ | (405,859 | ) |  | $ | 133,316 |
2013 |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA | $ | 364,712 |  |  | $ | 190,388 |  |  | $ | — |  |  | $ | 555,100 |  |  | $ | 71,691 |  |  | $ | (69,240 | ) |  | $ | 557,551 |
Depreciation and amortization(e) | (46,225 | ) |  | (33,580 | ) |  | — |  |  | (79,805 | ) |  | (13,323 | ) |  | (2,188 | ) |  | (95,316 | )
Restructuring and other, net(c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (33,361 | ) |  | (33,361 | )
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (31,559 | ) |  | (31,559 | )
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (134,445 | ) |  | (134,445 | )
(Loss) income from discontinued operations (net of tax) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,108 |  |  | 4,108 |
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 146,193 |  |  | 146,193 |
Net income (loss) attributable to Albemarle Corporation | $ | 318,487 |  |  | $ | 156,808 |  |  | $ | — |  |  | $ | 475,295 |  |  | $ | 58,368 |  |  | $ | (120,492 | ) |  | $ | 413,171 |
(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 was expensed over the estimated remaining selling period. For the year ended December 31, 2015, $75.9 million was included in Cost of goods sold, and Equity in net income of unconsolidated investments was reduced by $27.1 million related to the utilization of the inventory markup.
(b) | See Note 2, “Acquisitions.”
(c) | See Note 21, “Restructuring and Other.”
(d) | For the year ended December 31, 2015, Refining Solutions includes an impairment charge of approximately $2.0 million related to our unconsolidated investment in Fábrica Carioca de Catalisadores SA. For the years ended December 31, 2015 and 2014, Corporate includes approximately $4.4 million and $17.5 million, respectively, of financing-related fees expensed in connection with the acquisition of Rockwood.
(e) | Excludes discontinued operations.
| As of December 31,
| 2015 |  | 2014 |  | 2013
|  |  | (In thousands) |  |
Identifiable assets: |  |  |  |  |
Performance Chemicals | $ | 4,358,598 |  |  | $ | 1,085,246 |  |  | $ | 1,148,478 |
Refining Solutions | 937,445 |  |  | 1,100,361 |  |  | 1,217,313 |
Chemetall Surface Treatment | 3,207,621 |  |  | — |  |  | — |
All Other | 517,695 |  |  | 268,555 |  |  | 468,147 |
Corporate(a) | 593,655 |  |  | 2,768,941 |  |  | 750,859 |
Total identifiable assets | $ | 9,615,014 |  |  | $ | 5,223,103 |  |  | $ | 3,584,797 |
Goodwill: |  |  |  |  |
Performance Chemicals | $ | 1,287,824 |  |  | $ | 42,016 |  |  | $ | 42,025 |
Refining Solutions | 172,728 |  |  | 192,657 |  |  | 218,382 |
Chemetall Surface Treatment | 1,433,259 |  |  | — |  |  | — |
All Other | — |  |  | 8,589 |  |  | 23,796 |
Total goodwill | $ | 2,893,811 |  |  | $ | 243,262 |  |  | $ | 284,203 |
(a) | As of December 31, 2014, Corporate included net proceeds received from the issuance of the 2014 Senior Notes, which, together with borrowings from our Commercial Paper Notes, August 2014 Term Loan Agreement and Cash Bridge Facility, were used to finance the cash portion of the Merger Consideration, pay related fees and expenses and repay our senior notes which matured on February 1, 2015. See Note 14, “Long-Term Debt” and Note 2, “Acquisitions” for additional details about these transactions.
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
|  |  | (In thousands) |  |
Depreciation and amortization: |  |  |  |  |
Performance Chemicals | $ | 120,248 |  |  | $ | 51,707 |  |  | $ | 46,225 |
Refining Solutions | 34,039 |  |  | 32,670 |  |  | 33,580 |
Chemetall Surface Treatment | 78,903 |  |  | — |  |  | — |
Discontinued Operations | — |  |  | 3,165 |  |  | 12,054 |
All Other | 18,183 |  |  | 13,478 |  |  | 13,323 |
Corporate | 8,703 |  |  | 2,552 |  |  | 2,188 |
Total depreciation and amortization | $ | 260,076 |  |  | $ | 103,572 |  |  | $ | 107,370 |
Capital expenditures: |  |  |  |  |
Performance Chemicals | $ | 159,338 |  |  | $ | 52,280 |  |  | $ | 119,500 |
Refining Solutions | 28,836 |  |  | 49,219 |  |  | 16,501 |
Chemetall Surface Treatment | 23,738 |  |  | — |  |  | — |
All Other | 13,054 |  |  | 9,053 |  |  | 18,831 |
Corporate | 2,683 |  |  | 24 |  |  | 514 |
Total capital expenditures | $ | 227,649 |  |  | $ | 110,576 |  |  | $ | 155,346 |
Net Sales by Geographic Area |
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
|  |  | (In thousands) |  |
Net Sales: |  |  |  |  |
United States | $ | 1,118,847 |  |  | $ | 884,373 |  |  | $ | 933,182 |
Foreign(a) | 2,532,488 |  |  | 1,561,175 |  |  | 1,461,088 |
Total | $ | 3,651,335 |  |  | $ | 2,445,548 |  |  | $ | 2,394,270 |
(a) | No sales in a foreign country exceed 10% of total net sales. Also, net sales are attributed to countries based upon shipments to final destination.
Long-Lived Assets by Geographic Area |
| As of December 31,
| 2015 |  | 2014 |  | 2013
|  |  | (In thousands) |  |
Long-Lived Assets: |  |  |  |  |
United States | $ | 833,238 |  |  | $ | 698,863 |  |  | $ | 748,719 |
Chile | 916,965 |  |  | — |  |  | — |
Netherlands | 157,644 |  |  | 167,965 |  |  | 193,775 |
Jordan | 230,460 |  |  | 227,805 |  |  | 227,818 |
Australia | 282,552 |  |  | — |  |  | — |
Brazil | 45,847 |  |  | 59,474 |  |  | 78,078 |
Germany | 189,895 |  |  | 75,813 |  |  | 86,175 |
China | 29,780 |  |  | 5,310 |  |  | 41,858 |
France | 50,991 |  |  | 37,347 |  |  | 34,523 |
Korea | 72,685 |  |  | 80,362 |  |  | 86,827 |
United Kingdom | 5,320 |  |  | 3,665 |  |  | 3,665 |
Other foreign countries | 103,977 |  |  | 48,819 |  |  | 47,139 |
Total | $ | 2,919,354 |  |  | $ | 1,405,423 |  |  | $ | 1,548,577 |
Net Sales to External Customers by Product Category | Net sales to external customers by product category in each of the segments consists of the following:
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
|  |  | (In thousands) |  |
Performance Chemicals: |  |  |  |  |
Bromine | $ | 775,729 |  |  | $ | 808,857 |  |  | $ | 856,298 |
Lithium | 508,844 |  |  | — |  |  | — |
Performance Catalyst Solutions | 325,746 |  |  | 312,788 |  |  | 285,592 |
Total Performance Chemicals | $ | 1,610,319 |  |  | $ | 1,121,645 |  |  | $ | 1,141,890 |
Refining Solutions | $ | 729,261 |  |  | $ | 852,139 |  |  | $ | 775,207 |
Chemetall Surface Treatment | $ | 824,906 |  |  | $ | — |  |  | $ | — |

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