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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2017
Segment Reporting [Abstract] |
Reportable Segments Summarized Financial Information |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (In thousands)
Net sales: |  |  |  |  |  |  |
Lithium and Advanced Materials | $ | 343,557 |  |  | $ | 240,424 |  |  | $ | 945,791 |  |  | $ | 689,950 |
Bromine Specialties | 212,923 |  |  | 194,496 |  |  | 636,059 |  |  | 597,912 |
Refining Solutions | 170,275 |  |  | 190,453 |  |  | 539,904 |  |  | 539,044 |
All Other | 28,021 |  |  | 28,272 |  |  | 91,144 |  |  | 150,987 |
Corporate | 90 |  |  | 365 |  |  | 1,289 |  |  | 2,655 |
Total net sales | $ | 754,866 |  |  | $ | 654,010 |  |  | $ | 2,214,187 |  |  | $ | 1,980,548 |
Adjusted EBITDA: |  |  |  |  |  |  |
Lithium and Advanced Materials | $ | 130,218 |  |  | $ | 91,719 |  |  | $ | 382,789 |  |  | $ | 260,861 |
Bromine Specialties | 63,936 |  |  | 51,807 |  |  | 194,499 |  |  | 179,977 |
Refining Solutions | 43,120 |  |  | 64,960 |  |  | 142,777 |  |  | 181,620 |
All Other | 306 |  |  | 5,470 |  |  | 7,906 |  |  | 14,810 |
Corporate | (28,197 | ) |  | (25,627 | ) |  | (88,271 | ) |  | (66,435 | )
Total adjusted EBITDA | $ | 209,383 |  |  | $ | 188,329 |  |  | $ | 639,700 |  |  | $ | 570,833 |
See below for a reconciliation of adjusted EBITDA, the non-GAAP financial measure, from Net income 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 |  | Reportable Segments Total |  | All Other |  | Corporate |  | Consolidated Total
Three months ended September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Albemarle Corporation | $ | 103,199 |  |  | $ | 53,760 |  |  | $ | 34,392 |  |  | $ | 191,351 |  |  | $ | (1,776 | ) |  | $ | (70,905 | ) |  | $ | 118,670 |
Depreciation and amortization | 26,136 |  |  | 10,176 |  |  | 9,978 |  |  | 46,290 |  |  | 2,082 |  |  | 1,523 |  |  | 49,895 |
Utilization of inventory markup(a) | 568 |  |  | — |  |  | — |  |  | 568 |  |  | — |  |  | — |  |  | 568 |
Adjustment to gain on acquisition(b) | 1,408 |  |  | — |  |  | — |  |  | 1,408 |  |  | — |  |  | — |  |  | 1,408 |
Acquisition and integration related costs(c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,635 |  |  | 5,635 |
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15,792 |  |  | 15,792 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18,495 |  |  | 18,495 |
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,028 | ) |  | (1,028 | )
Multiemployer plan shortfall contributions(d) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,646 |  |  | 1,646 |
Other(e) | (1,093 | ) |  | — |  |  | (1,250 | ) |  | (2,343 | ) |  | — |  |  | 645 |  |  | (1,698 | )
Adjusted EBITDA | $ | 130,218 |  |  | $ | 63,936 |  |  | $ | 43,120 |  |  | $ | 237,274 |  |  | $ | 306 |  |  | $ | (28,197 | ) |  | $ | 209,383 |
Three months ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Albemarle Corporation | $ | 66,166 |  |  | $ | 41,621 |  |  | $ | 55,981 |  |  | $ | 163,768 |  |  | $ | 3,806 |  |  | $ | (39,354 | ) |  | $ | 128,220 |
Depreciation and amortization | 25,553 |  |  | 10,186 |  |  | 8,979 |  |  | 44,718 |  |  | 1,664 |  |  | 1,592 |  |  | 47,974 |
Acquisition and integration related costs(c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,749 |  |  | 6,749 |
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15,946 |  |  | 15,946 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12,394 |  |  | 12,394 |
Income from discontinued operations (net of tax) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (23,185 | ) |  | (23,185 | )
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (231 | ) |  | (231 | )
Other(f) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 462 |  |  | 462 |
Adjusted EBITDA | $ | 91,719 |  |  | $ | 51,807 |  |  | $ | 64,960 |  |  | $ | 208,486 |  |  | $ | 5,470 |  |  | $ | (25,627 | ) |  | $ | 188,329 |
Nine months ended September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Albemarle Corporation | $ | 292,655 |  |  | $ | 164,193 |  |  | $ | 115,329 |  |  | $ | 572,177 |  |  | $ | 1,622 |  |  | $ | (300,583 | ) |  | $ | 273,216 |
Depreciation and amortization | 74,157 |  |  | 30,306 |  |  | 28,698 |  |  | 133,161 |  |  | 6,284 |  |  | 4,642 |  |  | 144,087 |
Utilization of inventory markup(a) | 23,095 |  |  | — |  |  | — |  |  | 23,095 |  |  | — |  |  | — |  |  | 23,095 |
Restructuring and other(g) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 17,141 |  |  | 17,141 |
Gain on acquisition(b) | (6,025 | ) |  | — |  |  | — |  |  | (6,025 | ) |  | — |  |  | — |  |  | (6,025 | )
Acquisition and integration related costs(c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 26,395 |  |  | 26,395 |
Interest and financing expenses(h) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 98,895 |  |  | 98,895 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 53,596 |  |  | 53,596 |
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3,144 | ) |  | (3,144 | )
Multiemployer plan shortfall contributions(d) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,586 |  |  | 6,586 |
Other(e) | (1,093 | ) |  | — |  |  | (1,250 | ) |  | (2,343 | ) |  | — |  |  | 8,201 |  |  | 5,858 |
Adjusted EBITDA | $ | 382,789 |  |  | $ | 194,499 |  |  | $ | 142,777 |  |  | $ | 720,065 |  |  | $ | 7,906 |  |  | $ | (88,271 | ) |  | $ | 639,700 |
Nine months ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Albemarle Corporation | $ | 186,373 |  |  | $ | 150,221 |  |  | $ | 154,767 |  |  | $ | 491,361 |  |  | $ | 133,012 |  |  | $ | (582,788 | ) |  | $ | 41,585 |
Depreciation and amortization | 74,488 |  |  | 29,756 |  |  | 26,853 |  |  | 131,097 |  |  | 5,629 |  |  | 4,562 |  |  | 141,288 |
(Gain) loss on sales of businesses, net(i) | — |  |  | — |  |  | — |  |  | — |  |  | (123,831 | ) |  | 1,533 |  |  | (122,298 | )
Acquisition and integration related costs(c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 44,337 |  |  | 44,337 |
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 46,860 |  |  | 46,860 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 61,535 |  |  | 61,535 |
Loss from discontinued operations (net of tax) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 357,843 |  |  | 357,843 |
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (779 | ) |  | (779 | )
Other(f) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 462 |  |  | 462 |
Adjusted EBITDA | $ | 260,861 |  |  | $ | 179,977 |  |  | $ | 181,620 |  |  | $ | 622,458 |  |  | $ | 14,810 |  |  | $ | (66,435 | ) |  | $ | 570,833 |
(a) | In connection with the acquisition of Jiangli New Materials, the Company valued inventory purchased from Jiangli New Materials at fair value, which resulted in a markup of the underlying net book value of the inventory totaling approximately $23.1 million. The inventory markup was expensed over the estimated remaining selling period. For the three-month and nine-month periods ended September 30, 2017, $0.6 million and $23.1 million, respectively, was included in Cost of goods sold related to the utilization of the inventory markup.
(b) | Gain recorded in Other (expenses) income, net related to the acquisition of the remaining 50% interest in Salmag. See Note 2, “Acquisitions,” for additional information.
(c) | See Note 2, “Acquisitions,” for additional information.
(d) | Included shortfall contributions for our multiemployer plan financial improvement plan. See Note 13, “Pension Plans and Other Postretirement Benefits,” for additional information.
(e) | Included amounts for the three-month period ended September 30, 2017 recorded in:
▪ | Cost of goods sold - $1.3 million reversal of deferred income related to an abandoned project at an unconsolidated investment.
▪ | Other (expenses) income, net - $1.1 million related to a reversal of a liability associated with the previous disposal of a property, partially offset by the revision of tax indemnification expenses of $0.7 million primarily related to the filing of tax returns for a previously disposed business.
Included amounts for the nine-month period ended September 30, 2017 recorded in:
▪ | Cost of goods sold - $1.3 million reversal of deferred income related to an abandoned project at an unconsolidated investment.
▪ | Selling, general and administrative expenses - $1.0 million related to a reversal of an accrual recorded as part of purchase accounting from a previous acquisition.
▪ | Other (expenses) income, net - $3.2 million of asset retirement obligation charges related to the revision of an estimate at a site formerly owned by Albemarle, a loss of $2.1 million associated with the previous disposal of a business, final settlement claims associated with the previous disposal of a business of $2.0 million and the revision of tax indemnification expenses of $1.9 million primarily related to the filing of tax returns and a competent authority agreement for a previously disposed business. This is partially offset by $1.1 million related to a reversal of a liability associated with the previous disposal of a property.
(f) | Includes the write-off of fixed assets of $1.4 million included in Research and development expenses, partially offset by a net gain of $0.9 million on the sales of properties included in Other (expenses) income, net.
(g) | During 2017, we initiated action to reduce costs in each of our reportable segments at several locations, primarily at our Lithium sites in Germany. Based on the restructuring plans, we have recorded expenses of $2.9 million in Cost of goods sold, $8.4 million in Selling, general and administrative expenses and $5.8 million in Research and development expenses for the nine-month period ended September 30, 2017, primarily related to expected severance payments. The unpaid balance is recorded in Accrued expenses at September 30, 2017, with the expectation that the majority of these plans will be completed by the end of 2017.
(h) | Included in Interest and financing expenses is a loss on early extinguishment of debt of $52.8 million. See Note 10, “Long-term Debt,” for additional information.
(i) | See Note 3, “Divestitures,” for additional information.

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- 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=68060357&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=68060357&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=68060357&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=68060357&loc=d3e8736-108599 + Details
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