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Quarterly Financial Summary (Unaudited) | 12 Months Ended
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Dec. 31, 2018
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)
2018 |  |  |  |  |  |  |
Net sales | $ | 821,629 |  |  | $ | 853,874 |  |  | $ | 777,748 |  |  | $ | 921,699 |
Gross profit | $ | 304,979 |  |  | $ | 311,356 |  |  | $ | 280,537 |  |  | $ | 320,384 |
(Gain) loss on sales of businesses, net(a) | $ | — |  |  | $ | (218,705 | ) |  | $ | — |  |  | $ | 8,277 |
Net income | $ | 138,925 |  |  | $ | 310,686 |  |  | $ | 143,479 |  |  | $ | 146,049 |
Net income attributable to noncontrolling interests | (7,165 | ) |  | (8,225 | ) |  | (13,734 | ) |  | (16,453 | )
Net income attributable to Albemarle Corporation | $ | 131,760 |  |  | $ | 302,461 |  |  | $ | 129,745 |  |  | $ | 129,596 |
Basic earnings per share | $ | 1.19 |  |  | $ | 2.76 |  |  | $ | 1.21 |  |  | $ | 1.22 |
Shares used to compute basic earnings per share | 110,681 |  |  | 109,671 |  |  | 107,315 |  |  | 106,042 |
Diluted earnings per share | $ | 1.18 |  |  | $ | 2.73 |  |  | $ | 1.20 |  |  | $ | 1.21 |
Shares used to compute diluted earnings per share | 111,867 |  |  | 110,659 |  |  | 108,302 |  |  | 107,005 |
| 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 | $ | 254,956 |  |  | $ | 271,960 |  |  | $ | 275,657 |  |  | $ | 303,703 |
Net income (loss) | $ | 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 |
(a) | Represents the gain (loss) on the Polyolefin Catalysts Divestiture. See Note 3, “Divestitures,” for additional information.
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, 2018, actuarial losses were recognized as follows: fourth quarter—$14.0 million ($10.6 million after income taxes) as a result of the annual remeasurement process. 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.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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