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Earnings Per Share | 6 Months Ended
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Jun. 30, 2017
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share: Basic and diluted earnings per share from continuing operations for the three-month and six-month periods ended June 30, 2017 and 2016 are calculated as follows (in thousands, except per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Basic earnings per share from continuing operations |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income from continuing operations | $ | 113,689 |  |  | $ | 95,586 |  |  | $ | 176,346 |  |  | $ | 313,822 |
Net income from continuing operations attributable to noncontrolling interests | (10,356 | ) |  | (12,067 | ) |  | (21,800 | ) |  | (19,429 | )
Net income from continuing operations attributable to Albemarle Corporation | $ | 103,333 |  |  | $ | 83,519 |  |  | $ | 154,546 |  |  | $ | 294,393 |
Denominator: |  |  |  |  |  |  |
Weighted-average common shares for basic earnings per share | 110,686 |  |  | 112,339 |  |  | 111,336 |  |  | 112,300 |
Basic earnings per share from continuing operations | $ | 0.93 |  |  | $ | 0.74 |  |  | $ | 1.39 |  |  | $ | 2.62 |
Diluted earnings per share from continuing operations |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income from continuing operations | $ | 113,689 |  |  | $ | 95,586 |  |  | $ | 176,346 |  |  | $ | 313,822 |
Net income from continuing operations attributable to noncontrolling interests | (10,356 | ) |  | (12,067 | ) |  | (21,800 | ) |  | (19,429 | )
Net income from continuing operations attributable to Albemarle Corporation | $ | 103,333 |  |  | $ | 83,519 |  |  | $ | 154,546 |  |  | $ | 294,393 |
Denominator: |  |  |  |  |  |  |
Weighted-average common shares for basic earnings per share | 110,686 |  |  | 112,339 |  |  | 111,336 |  |  | 112,300 |
Incremental shares under stock compensation plans | 1,419 |  |  | 836 |  |  | 1,361 |  |  | 673 |
Weighted-average common shares for diluted earnings per share | 112,105 |  |  | 113,175 |  |  | 112,697 |  |  | 112,973 |
Diluted earnings per share from continuing operations | $ | 0.92 |  |  | $ | 0.74 |  |  | $ | 1.37 |  |  | $ | 2.61 |
On February 23, 2017, the Company increased the regular quarterly dividend by 5% to $0.32 per share. On May 11, 2017, the Company declared a cash dividend of $0.32 per share, which is payable on July 3, 2017 to shareholders of record at the close of business as of June 15, 2017. On July 10, 2017, the Company declared a cash dividend of $0.32 per share, which is payable on October 2, 2017 to shareholders of record at the close of business as of September 15, 2017. Under our existing Board authorized share repurchase program, the Company entered into an accelerated share repurchase (“ASR”) agreement with a financial institution on March 1, 2017. Under the ASR agreement, in March 2017, the Company paid $250 million from available cash on hand and received and retired an initial delivery of 1,948,178 shares of our common stock. Under the terms of the ASR agreement, on June 16, 2017, the transaction was completed and we received and retired a final settlement of 392,905 shares, calculated based on the daily Rule 10b-18 volume-weighted average prices of the Company’s common stock over the term of the ASR agreement, less an agreed discount. The Company determined that the ASR agreement met the criteria to be accounted for as a forward contract indexed to its stock and was therefore treated as an equity instrument. In total we received and retired 2,341,083 shares under this agreement, which reduced the Company’s weighted average shares outstanding for purposes of calculating basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2017. No more than 15,000,000 shares can be repurchased under the Company’s authorized share repurchase program. As of June 30, 2017, there were 12,658,917 remaining shares available for repurchase under the Company’s authorized share repurchase program.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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