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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
Reportable Segments Summarized Financial Information |
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
| (In thousands) |  |  |  | (In thousands) |  |
Net sales: |  |  |  |  |  |  |
Lithium | $ | 283,722 |  |  | $ | 324,758 |  |  | $ | 520,540 |  |  | $ | 616,644 |
Bromine Specialties | 232,779 |  |  | 255,433 |  |  | 464,371 |  |  | 504,485 |
Catalysts | 197,053 |  |  | 266,301 |  |  | 404,260 |  |  | 517,949 |
All Other | 50,495 |  |  | 38,560 |  |  | 113,723 |  |  | 78,038 |
Total net sales | $ | 764,049 |  |  | $ | 885,052 |  |  | $ | 1,502,894 |  |  | $ | 1,717,116 |
Adjusted EBITDA: |  |  |  |  |  |  |
Lithium | $ | 94,536 |  |  | $ | 141,779 |  |  | $ | 173,173 |  |  | $ | 257,395 |
Bromine Specialties | 73,041 |  |  | 81,332 |  |  | 156,303 |  |  | 159,929 |
Catalysts | 22,777 |  |  | 66,875 |  |  | 70,247 |  |  | 126,946 |
All Other | 18,598 |  |  | 11,240 |  |  | 41,422 |  |  | 18,483 |
Corporate | (23,759) |  |  | (39,326) |  |  | (59,587) |  |  | (74,986) |
Total adjusted EBITDA | $ | 185,193 |  |  | $ | 261,900 |  |  | $ | 381,558 |  |  | $ | 487,767 |
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 |  | Bromine Specialties |  | Catalysts |  | Reportable Segments Total |  | All Other |  | Corporate |  | Consolidated Total
Three months ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Albemarle Corporation | $ | 66,038 |  |  | $ | 60,692 |  |  | $ | 10,702 |  |  | $ | 137,432 |  |  | $ | 16,425 |  |  | $ | (68,233) |  |  | $ | 85,624 |
Depreciation and amortization | 28,498 |  |  | 12,349 |  |  | 12,075 |  |  | 52,922 |  |  | 2,173 |  |  | 2,746 |  |  | 57,841 |
Restructuring and other(a) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,733 |  |  | 6,733 |
Acquisition and integration related costs(b) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,470 |  |  | 5,470 |
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 17,852 |  |  | 17,852 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15,431 |  |  | 15,431 |
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,895) |  |  | (2,895) |
Other(c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (863) |  |  | (863) |
Adjusted EBITDA | $ | 94,536 |  |  | $ | 73,041 |  |  | $ | 22,777 |  |  | $ | 190,354 |  |  | $ | 18,598 |  |  | $ | (23,759) |  |  | $ | 185,193 |
Three months ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Albemarle Corporation | $ | 117,303 |  |  | $ | 69,616 |  |  | $ | 54,124 |  |  | $ | 241,043 |  |  | $ | 9,118 |  |  | $ | (95,963) |  |  | $ | 154,198 |
Depreciation and amortization | 24,365 |  |  | 11,716 |  |  | 12,751 |  |  | 48,832 |  |  | 2,122 |  |  | 1,994 |  |  | 52,948 |
Restructuring and other(a) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,760 |  |  | 4,760 |
Acquisition and integration related costs(b) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,990 |  |  | 4,990 |
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11,601 |  |  | 11,601 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 30,411 |  |  | 30,411 |
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (676) |  |  | (676) |
Other(d) | 111 |  |  | — |  |  | — |  |  | 111 |  |  | — |  |  | 3,557 |  |  | 3,668 |
Adjusted EBITDA | $ | 141,779 |  |  | $ | 81,332 |  |  | $ | 66,875 |  |  | $ | 289,986 |  |  | $ | 11,240 |  |  | $ | (39,326) |  |  | $ | 261,900 |
Six months ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Albemarle Corporation | $ | 119,278 |  |  | $ | 132,357 |  |  | $ | 45,594 |  |  | $ | 297,229 |  |  | $ | 37,271 |  |  | $ | (141,672) |  |  | $ | 192,828 |
Depreciation and amortization | 53,895 |  |  | 23,946 |  |  | 24,653 |  |  | 102,494 |  |  | 4,151 |  |  | 4,890 |  |  | 111,535 |
Restructuring and other(a) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8,580 |  |  | 8,580 |
Acquisition and integration related costs(b) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8,426 |  |  | 8,426 |
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 34,737 |  |  | 34,737 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 33,873 |  |  | 33,873 |
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (5,803) |  |  | (5,803) |
Other(c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,618) |  |  | (2,618) |
Adjusted EBITDA | $ | 173,173 |  |  | $ | 156,303 |  |  | $ | 70,247 |  |  | $ | 399,723 |  |  | $ | 41,422 |  |  | $ | (59,587) |  |  | $ | 381,558 |
Six months ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Albemarle Corporation | $ | 210,472 |  |  | $ | 137,096 |  |  | $ | 101,983 |  |  | $ | 449,551 |  |  | $ | 14,324 |  |  | $ | (176,108) |  |  | $ | 287,767 |
Depreciation and amortization | 46,457 |  |  | 22,833 |  |  | 24,963 |  |  | 94,253 |  |  | 4,159 |  |  | 3,819 |  |  | 102,231 |
Restructuring and other(a) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,290 |  |  | 5,290 |
Acquisition and integration related costs(b) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10,274 |  |  | 10,274 |
Gain on sale of property(e) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (11,079) |  |  | (11,079) |
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24,187 |  |  | 24,187 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 67,925 |  |  | 67,925 |
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,259) |  |  | (1,259) |
Other(d) | 466 |  |  | — |  |  | — |  |  | 466 |  |  | — |  |  | 1,965 |  |  | 2,431 |
Adjusted EBITDA | $ | 257,395 |  |  | $ | 159,929 |  |  | $ | 126,946 |  |  | $ | 544,270 |  |  | $ | 18,483 |  |  | $ | (74,986) |  |  | $ | 487,767 |
(a)Severance expenses as part of a business reorganization plan, primarily within our Lithium business in Germany, as well in our Bromine Specialties business in 2020. During the three months ended June 30, 2020, we recorded expenses of $6.7 million in Selling, general and administrative expenses. During the six months ended June 30, 2020, we recorded expenses of $0.7 million in Cost of goods sold, $8.2 million in Selling, general and administrative expenses and a $0.3 million gain in Net income attributable to noncontrolling interests for the portion of severance expense allocated to our Jordanian joint venture partner. The balance of unpaid severance is recorded in Accrued expenses and is expected to primarily be paid through the first quarter of 2021. During the three and six months ended June 30, 2019, severance expenses of $4.8 million and $5.3 million, respectively, were recorded in Selling, general and administrative expenses as part of a business reorganization plan primarily in Catalysts, Lithium and Corporate. (b)Costs related to the acquisition, integration and potential divestitures for various significant projects, recorded in Selling, general and administrative expenses. (c)Included amounts for the three months ended June 30, 2020 recorded in: ▪Other (expenses) income, net - $0.9 million net gain primarily relating to the sale of idle properties in Germany. Included amounts for the six months ended June 30, 2020 recorded in: ▪Other (expenses) income, net - $2.7 million gain resulting from the settlement of a legal matter related to a business sold and $0.8 million net gain primarily relating to the sale of idle properties in Germany, partially offset by a $0.8 million loss resulting from the adjustment of indemnifications related to previously disposed businesses. (d) Included amounts for the three months ended June 30, 2019 recorded in: ▪Cost of goods sold - $0.1 million related to non-routine labor and compensation related costs in Chile that were outside normal compensation arrangements. ▪Selling, general and administrative expenses - $1.0 million of shortfall contributions for our multiemployer plan financial improvement plan. ▪Other (expenses) income, net - $2.5 million of a net loss primarily resulting from the adjustment of indemnifications related to previously disposed businesses. Included amounts for the six months ended June 30, 2019 recorded in: ▪Cost of goods sold - $0.5 million related to non-routine labor and compensation related costs in Chile that were outside normal compensation arrangements. ▪Selling, general and administrative expenses - $1.0 million of shortfall contributions for our multiemployer plan financial improvement plan. ▪Other (expenses) income, net - $0.9 million of a net loss primarily resulting from the adjustment of indemnifications and other liabilities related to previously disposed businesses. (e) Gain recorded in Other (expenses) income, net related to the sale of land in Pasadena, Texas not used as part of our operations.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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