XML 77 R59.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Quarterly Financial Summary (Unaudited) (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Summary |
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
| (In thousands, except per share amounts)
2016 |  |  |  |  |  |  |
Net sales | $ | 657,211 |  |  | $ | 669,327 |  |  | $ | 654,010 |  |  | $ | 696,655 |
Gross profit | $ | 242,534 |  |  | $ | 248,104 |  |  | $ | 238,972 |  |  | $ | 240,966 |
Gain on sales of businesses, net(a) | $ | (121,324 | ) |  | $ | (974 | ) |  | $ | — |  |  | $ | — |
Acquisition and integration related costs(b) | $ | 18,558 |  |  | $ | 19,030 |  |  | $ | 6,749 |  |  | $ | 13,047 |
Net income from continuing operations | $ | 218,236 |  |  | $ | 95,586 |  |  | $ | 114,512 |  |  | $ | 50,304 |
Income (loss) from discontinued operations (net of tax)(c) | 17,312 |  |  | (398,340 | ) |  | 23,185 |  |  | 559,974 |
Net income attributable to noncontrolling interests | (7,362 | ) |  | (12,067 | ) |  | (9,477 | ) |  | (8,188 | )
Net income (loss) attributable to Albemarle Corporation | $ | 228,186 |  |  | $ | (314,821 | ) |  | $ | 128,220 |  |  | $ | 602,090 |
Basic earnings (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | 1.88 |  |  | $ | 0.74 |  |  | $ | 0.93 |  |  | $ | 0.37 |
Discontinued operations | 0.15 |  |  | (3.54 | ) |  | 0.21 |  |  | 4.98 |
| $ | 2.03 |  |  | $ | (2.80 | ) |  | $ | 1.14 |  |  | $ | 5.35 |
Shares used to compute basic earnings per share | 112,260 |  |  | 112,339 |  |  | 112,429 |  |  | 112,487 |
Diluted earnings (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | 1.87 |  |  | $ | 0.74 |  |  | $ | 0.93 |  |  | $ | 0.37 |
Discontinued operations | 0.15 |  |  | (3.52 | ) |  | 0.20 |  |  | 4.93 |
| $ | 2.02 |  |  | $ | (2.78 | ) |  | $ | 1.13 |  |  | $ | 5.30 |
Shares used to compute diluted earnings per share | 112,770 |  |  | 113,175 |  |  | 113,448 |  |  | 113,563 |
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
| (In thousands, except per share amounts)
2015 |  |  |  |  |  |  |
Net sales | $ | 692,313 |  |  | $ | 718,290 |  |  | $ | 693,216 |  |  | $ | 722,610 |
Gross profit | $ | 191,384 |  |  | $ | 212,031 |  |  | $ | 219,045 |  |  | $ | 237,773 |
Restructuring and other, net(d) | $ | — |  |  | $ | — |  |  | $ | (6,804 | ) |  | $ | — |
Acquisition and integration related costs(b) | $ | 57,825 |  |  | $ | 22,832 |  |  | $ | 36,514 |  |  | $ | 15,128 |
Net income from continuing operations(e) | $ | 49,253 |  |  | $ | 49,218 |  |  | $ | 59,842 |  |  | $ | 169,275 |
(Loss) income from discontinued operations (net of tax) | (2,104 | ) |  | 10,148 |  |  | 11,030 |  |  | 13,402 |
Net income attributable to noncontrolling interests | (4,034 | ) |  | (7,219 | ) |  | (5,480 | ) |  | (8,425 | )
Net income attributable to Albemarle Corporation | $ | 43,115 |  |  | $ | 52,147 |  |  | $ | 65,392 |  |  | $ | 174,252 |
Basic earnings (loss) per share: |  |  |  |  |  |  |
Continuing operations(e) | $ | 0.42 |  |  | $ | 0.37 |  |  | $ | 0.48 |  |  | $ | 1.43 |
Discontinued operations | (0.02 | ) |  | 0.09 |  |  | 0.10 |  |  | 0.12 |
| $ | 0.40 |  |  | $ | 0.46 |  |  | $ | 0.58 |  |  | $ | 1.55 |
Shares used to compute basic earnings per share | 108,130 |  |  | 112,189 |  |  | 112,202 |  |  | 112,207 |
Diluted earnings (loss) per share: |  |  |  |  |  |  |
Continuing operations(e) | $ | 0.42 |  |  | $ | 0.37 |  |  | $ | 0.48 |  |  | $ | 1.43 |
Discontinued operations | (0.02 | ) |  | 0.09 |  |  | 0.10 |  |  | 0.12 |
| $ | 0.40 |  |  | $ | 0.46 |  |  | $ | 0.58 |  |  | $ | 1.55 |
Shares used to compute diluted earnings per share | 108,464 |  |  | 112,607 |  |  | 112,544 |  |  | 112,608 |
(a) | Included in Gain on sales of businesses, net for the year ended December 31, 2016 is $11.5 million and $112.3 million related to the sales of the metal sulfides business and the minerals-based flame retardants and specialty chemicals business, respectively, both of which closed in the first quarter of 2016. In addition, Gain on sales of businesses, net for the year ended December 31, 2016 includes a loss of $1.5 million on the sale of our wafer reclaim business. See Note 3, “Divestitures,” for additional information.
(b) | See Note 2, “Acquisitions,” for additional information.
(c) | Included in Income (loss) from discontinued operations (net of tax) for the second quarter of 2016 is a nonrecurring, non-cash tax charge of $416.7 million related to the change in the Company’s assertion over book and tax basis differences for certain entities included in the sale of the Chemetall Surface Treatment business. In the fourth quarter of 2016, this non-cash tax charge was reversed as a result of the completion of the sale. In addition, the fourth quarter of 2016 includes an after-tax gain of $135.0 million as a result of the sale of the Chemetall Surface Treatment business.
(d) | See Note 21, “Restructuring and Other.”
(e) | The fourth quarter of 2015 includes an income tax benefit of $43.1 million primarily related to the release of certain tax reserves associated with lapses in statutes of limitations and audit closures.

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

X
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: 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=68076893&loc=d3e1280-108306 + Details
Name: | us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration