XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2016
Segment Reporting [Abstract] |
Reportable Segments Summarized Financial Information |
| Three Months Ended March 31,
| 2016 |  | 2015
| (In thousands)
Net sales: |  |  |
Lithium and Advanced Materials | $ | 216,173 |  |  | $ | 198,774 |
Bromine Specialties | 196,553 |  |  | 189,592 |
Refining Solutions | 170,579 |  |  | 179,166 |
Chemetall Surface Treatment | 208,187 |  |  | 192,091 |
All Other | 72,089 |  |  | 122,369 |
Corporate | 1,817 |  |  | 2,412 |
Total net sales | $ | 865,398 |  |  | $ | 884,404 |
Adjusted EBITDA: |  |  |
Lithium and Advanced Materials | $ | 86,474 |  |  | $ | 77,595 |
Bromine Specialties | 61,608 |  |  | 52,933 |
Refining Solutions | 55,074 |  |  | 42,193 |
Chemetall Surface Treatment | 52,522 |  |  | 46,004 |
All Other | 8,464 |  |  | 13,564 |
Corporate | (19,166 | ) |  | 33,339 |
Total adjusted EBITDA | $ | 244,976 |  |  | $ | 265,628 |
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 U.S. GAAP, (in thousands):
| Lithium and Advanced Materials |  | Bromine Specialties |  | Refining Solutions |  | Chemetall Surface Treatment |  | Reportable Segments Total |  | All Other |  | Corporate |  | Consolidated Total
Three months ended March 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA | $ | 86,474 |  |  | $ | 61,608 |  |  | $ | 55,074 |  |  | $ | 52,522 |  |  | $ | 255,678 |  |  | $ | 8,464 |  |  | $ | (19,166 | ) |  | $ | 244,976 |
Depreciation and amortization | (23,147 | ) |  | (9,755 | ) |  | (8,760 | ) |  | (16,942 | ) |  | (58,604 | ) |  | (612 | ) |  | (1,336 | ) |  | (60,552 | )
Utilization of inventory markup(a) | — |  |  | — |  |  | — |  |  | (154 | ) |  | (154 | ) |  | — |  |  | — |  |  | (154 | )
Gain (loss) on sales of businesses, net(b) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 122,857 |  |  | (1,533 | ) |  | 121,324 |
Acquisition and integration related costs(c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (21,356 | ) |  | (21,356 | )
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (25,251 | ) |  | (25,251 | )
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (30,985 | ) |  | (30,985 | )
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 184 |  |  | 184 |
Net income (loss) attributable to Albemarle Corporation | $ | 63,327 |  |  | $ | 51,853 |  |  | $ | 46,314 |  |  | $ | 35,426 |  |  | $ | 196,920 |  |  | $ | 130,709 |  |  | $ | (99,443 | ) |  | $ | 228,186 |
Three months ended March 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA | $ | 77,595 |  |  | $ | 52,933 |  |  | $ | 42,193 |  |  | $ | 46,004 |  |  | $ | 218,725 |  |  | $ | 13,564 |  |  | $ | 33,339 |  |  | $ | 265,628 |
Depreciation and amortization | (21,822 | ) |  | (8,461 | ) |  | (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(c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (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(d) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4,441 | ) |  | (4,441 | )
Net income (loss) attributable to Albemarle Corporation | $ | 27,191 |  |  | $ | 44,472 |  |  | $ | 34,083 |  |  | $ | 10,855 |  |  | $ | 116,601 |  |  | $ | 5,415 |  |  | $ | (78,901 | ) |  | $ | 43,115 |
(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 three-month period ended March 31, 2016, $0.2 million was included in Cost of goods sold related to the utilization of the inventory markup as a result of a measurement-period adjustment. 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, respectively, related to the utilization of the inventory markup.
(b) | See Note 3, “Divestitures.”
(c) | See Note 2, “Acquisitions.”
(d) | Financing-related fees expensed in connection with the acquisition of Rockwood.

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: 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=51669610&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8736-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration