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Quarterly Financial Summary (Unaudited) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Summary (Unaudited) | Quarterly Financial Summary (Unaudited):
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
| (In thousands, except per share amounts)
2017 |  |  |  |  |  |  |
Net sales | $ | 722,063 |  |  | $ | 737,258 |  |  | $ | 754,866 |  |  | $ | 857,789 |
Gross profit | $ | 255,088 |  |  | $ | 272,094 |  |  | $ | 275,789 |  |  | $ | 307,009 |
Net income (loss) from continuing operations | $ | 62,657 |  |  | $ | 113,689 |  |  | $ | 130,193 |  |  | $ | (207,071 | )
Net income attributable to noncontrolling interests | (11,444 | ) |  | (10,356 | ) |  | (11,523 | ) |  | (11,295 | )
Net income (loss) attributable to Albemarle Corporation | $ | 51,213 |  |  | $ | 103,333 |  |  | $ | 118,670 |  |  | $ | (218,366 | )
Basic earnings (loss) per share | $ | 0.46 |  |  | $ | 0.93 |  |  | $ | 1.07 |  |  | $ | (1.98 | )
Shares used to compute basic earnings per share | 111,986 |  |  | 110,686 |  |  | 110,476 |  |  | 110,510 |
Diluted earnings (loss) per share | $ | 0.45 |  |  | $ | 0.92 |  |  | $ | 1.06 |  |  | $ | (1.95 | )
Shares used to compute diluted earnings per share | 113,289 |  |  | 112,105 |  |  | 111,975 |  |  | 112,152 |
| 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 |
(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.
As discussed in Note 1, “Summary of Significant Accounting Policies,” actuarial gains and losses related to our defined benefit pension and OPEB plan obligations are recognized annually in our consolidated statements of income in the fourth quarter and whenever a plan is determined to qualify for a remeasurement during a fiscal year. During the year ended December 31, 2017, actuarial gains were recognized as follows: fourth quarter—$11.4 million ($7.3 million after income taxes) as a result of the annual remeasurement process. During the year ended December 31, 2016, actuarial losses were recognized as follows: fourth quarter—$26.7 million ($18.3 million after income taxes) as a result of the annual remeasurement process.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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