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Segment and Geographic Area Information (Tables) | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Summarized Financial Information by Reportable Segments |
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Net sales: |  |  |  |  |
Lithium | $ | 1,144,778 |  |  | $ | 1,358,170 |  |  | $ | 1,228,171 |
Bromine Specialties | 964,962 |  |  | 1,004,216 |  |  | 917,880 |
Catalysts | 797,914 |  |  | 1,061,817 |  |  | 1,101,554 |
All Other | 221,255 |  |  | 165,224 |  |  | 127,186 |
Corporate | — |  |  | — |  |  | 159 |
Total net sales | $ | 3,128,909 |  |  | $ | 3,589,427 |  |  | $ | 3,374,950 |
Adjusted EBITDA: |  |  |  |  |
Lithium | $ | 393,093 |  |  | $ | 524,934 |  |  | $ | 530,773 |
Bromine Specialties | 323,605 |  |  | 328,457 |  |  | 288,116 |
Catalysts | 130,134 |  |  | 270,624 |  |  | 284,307 |
All Other | 84,821 |  |  | 49,628 |  |  | 14,091 |
Corporate | (112,915) |  |  | (136,862) |  |  | (110,623) |
Total adjusted EBITDA | $ | 818,738 |  |  | $ | 1,036,781 |  |  | $ | 1,006,664 |
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
2020 |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Albemarle Corporation | $ | 277,711 |  |  | $ | 274,495 |  |  | $ | 80,149 |  |  | $ | 632,355 |  |  | $ | 76,323 |  |  | $ | (332,914) |  |  | $ | 375,764 |
Depreciation and amortization | 112,854 |  |  | 50,310 |  |  | 49,985 |  |  | 213,149 |  |  | 8,498 |  |  | 10,337 |  |  | 231,984 |
Restructuring and other(a) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 19,597 |  |  | 19,597 |
Acquisition and integration related costs(b) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 17,263 |  |  | 17,263 |
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 73,116 |  |  | 73,116 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 54,425 |  |  | 54,425 |
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 40,668 |  |  | 40,668 |
Other(c) | 2,528 |  |  | (1,200) |  |  | — |  |  | 1,328 |  |  | — |  |  | 4,593 |  |  | 5,921 |
Adjusted EBITDA | $ | 393,093 |  |  | $ | 323,605 |  |  | $ | 130,134 |  |  | $ | 846,832 |  |  | $ | 84,821 |  |  | $ | (112,915) |  |  | $ | 818,738 |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Albemarle Corporation | $ | 341,767 |  |  | $ | 279,945 |  |  | $ | 219,686 |  |  | $ | 841,398 |  |  | $ | 41,188 |  |  | $ | (349,358) |  |  | $ | 533,228 |
Depreciation and amortization | 99,424 |  |  | 47,611 |  |  | 50,144 |  |  | 197,179 |  |  | 8,440 |  |  | 7,865 |  |  | 213,484 |
Restructuring and other(a) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,877 |  |  | 5,877 |
Gain on sale of property(d) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (14,411) |  |  | (14,411) |
Acquisition and integration related costs(b) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 20,684 |  |  | 20,684 |
Interest and financing expenses(e) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 57,695 |  |  | 57,695 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 88,161 |  |  | 88,161 |
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 26,970 |  |  | 26,970 |
Stamp duty(b) | 64,766 |  |  | — |  |  | — |  |  | 64,766 |  |  | — |  |  | — |  |  | 64,766 |
Windfield tax settlement(f) | 17,292 |  |  | — |  |  | — |  |  | 17,292 |  |  | — |  |  | — |  |  | 17,292 |
Other(g) | 1,685 |  |  | 901 |  |  | 794 |  |  | 3,380 |  |  | — |  |  | 19,655 |  |  | 23,035 |
Adjusted EBITDA | $ | 524,934 |  |  | $ | 328,457 |  |  | $ | 270,624 |  |  | $ | 1,124,015 |  |  | $ | 49,628 |  |  | $ | (136,862) |  |  | $ | 1,036,781 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Albemarle Corporation | $ | 428,212 |  |  | $ | 246,509 |  |  | $ | 445,604 |  |  | $ | 1,120,325 |  |  | $ | 6,018 |  |  | $ | (432,781) |  |  | $ | 693,562 |
Depreciation and amortization | 95,193 |  |  | 41,607 |  |  | 49,131 |  |  | 185,931 |  |  | 8,073 |  |  | 6,694 |  |  | 200,698 |
Restructuring and other(a) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,838 |  |  | 3,838 |
Gain on sale of business(h) | — |  |  | — |  |  | (210,428) |  |  | (210,428) |  |  | — |  |  | — |  |  | (210,428) |
Acquisition and integration related costs(b) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 19,377 |  |  | 19,377 |
Interest and financing expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 52,405 |  |  | 52,405 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 144,826 |  |  | 144,826 |
Non-operating pension and OPEB items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,285 |  |  | 5,285 |
Legal accrual(i) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 27,027 |  |  | 27,027 |
Environmental accrual(j) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15,597 |  |  | 15,597 |
Albemarle Foundation contribution(k) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15,000 |  |  | 15,000 |
Indemnification adjustments(l) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 25,240 |  |  | 25,240 |
Other(m) | 7,368 |  |  | — |  |  | — |  |  | 7,368 |  |  | — |  |  | 6,869 |  |  | 14,237 |
Adjusted EBITDA | $ | 530,773 |  |  | $ | 288,116 |  |  | $ | 284,307 |  |  | $ | 1,103,196 |  |  | $ | 14,091 |  |  | $ | (110,623) |  |  | $ | 1,006,664 |
(a)During the year ended December 31, 2020, we recorded severance expenses as part of business reorganization plans, impacting each of our businesses and Corporate, primarily in the U.S., Belgium, Germany and with our Jordanian joint venture partner. We recorded expenses of $0.7 million in Cost of goods sold, $19.2 million in SG&A 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 primarily expected to be paid through 2021. In addition, we recorded severance payments as part of a business reorganization plans of $5.9 million recorded in Selling, general and administrative expenses for the year ended December 31, 2019 and $0.1 million and $3.7 million recorded in Cost of goods sold and Selling, general and administrative expenses, respectively, for the year ended December 31, 2018. (b)See Note 2, “Acquisitions,” for additional information. (c)Included amounts for the year ended December 31, 2020 recorded in: •Cost of goods sold - $1.3 million of expense related to a legal matter as part of a prior acquisition in our Lithium business. •SG&A - $3.1 million of shortfall contributions for our multiemployer plan financial improvement plan and $3.8 million of a net expense primarily relating to the increase of environmental reserves at non-operating businesses we have previously divested. •Other expenses, net - $7.2 million gain related to the sale of our ownership percentage in the SOCC joint venture, $3.6 million of a net gain primarily relating to the sale of intangible assets in our Bromine business and property in Germany not used as part of our operations and a $2.5 million net gain resulting from the settlement of legal matters related to a business sold or a site in the process of being sold, partially offset by $9.6 million of losses resulting from the adjustment of indemnifications related to previously disposed businesses and $1.2 million of expenses related to other costs outside of our regular operations. (d)Gain of $3.3 million recorded in Selling, general and administrative expenses related to the release of liabilities as part of the sale of a property and $11.1 million gain recorded in Other expenses, net related to the sale of land in Pasadena, Texas not used as part of our operations. (e)Included in Interest and financing expenses is a loss on early extinguishment of debt of $4.8 million. See Note 14, “Long-Term Debt,” for additional information. (f)Represents our 49% share of a tax settlement between our Windfield joint venture and an Australian taxing authority, recorded in Equity in net income of unconsolidated investments (net of tax). This is offset in Income tax expense by a discrete tax benefit related to seeking treaty relief from the competent authority to prevent double taxation. (g)Included amounts for the year ended December 31, 2019 recorded in: •Cost of goods sold - $0.7 million related to non-routine labor and compensation related costs in Chile that are outside normal compensation arrangements. •Selling, general and administrative expenses - $1.8 million of shortfall contributions for our multiemployer plan financial improvement plan, $0.9 million of a write-off of uncollectible accounts receivable from a terminated distributor in the Bromine Specialties segment, $1.0 million related to the settlement of terminated agreements, primarily in the Catalysts segment, and $0.8 million related to the settlement of an ongoing audit in the Lithium segment. •Other expenses, net - $3.1 million of unrecoverable vendor costs outside the operations of the business related to the construction of the future Kemerton production facility, $9.8 million of a net loss primarily resulting from the adjustment of indemnifications and other liabilities related to previously disposed businesses or purchase accounting, $3.6 million of asset retirement obligation charges related to the update of an estimate at a site formerly owned by Albemarle, and $1.2 million of non-operating pension costs from our 50% interest in JBC. (h)See Note 3, “Divestitures,” for additional information. (i)Included in Other expenses, net. See Note 17, “Commitments and Contingencies,” for additional information. (j)Increase in environmental reserve to indemnify the buyer of a formerly owned site recorded in Other expenses, net. As defined in the agreement of sale, this indemnification has a set cutoff date in 2024, at which point we will no longer be required to provide financial coverage. (k)Included in Selling, general and administrative expenses is a charitable contribution, using a portion of the proceeds received from the Polyolefin Catalysts Divestiture, to the Albemarle Foundation, a non-profit organization that sponsors grants, health and social projects, educational initiatives, disaster relief, matching gift programs, scholarships and other charitable initiatives in locations where our employees live and operate. This contribution is in addition to the normal annual contribution made to the Albemarle Foundation by the Company, and is significant in size and nature in that it is intended to provide more long-term benefits in the communities where we live and operate. (l)Included in Other expenses, net is $19.7 million related to the proposed settlement of an ongoing audit of a previously disposed business in Germany, and $5.5 million related to the adjustment of indemnifications previously recorded from disposed businesses. (m)Included amounts for the year ended December 31, 2018 recorded in: •Cost of goods sold - $4.9 million for the write-off of fixed assets related to a major capacity expansion in our Jordanian joint venture and $8.8 million related to non-routine labor and compensation related costs in Chile that are outside normal compensation arrangements. •Selling, general and administrative expenses - $2.3 million of shortfall contributions for our multiemployer plan financial improvement plan and a $1.2 million contribution, using a portion of the proceeds received from the Polyolefin Catalysts Divestiture, to schools in the state of Louisiana for qualified tuition purposes. This contribution is significant in size and is intended to provide long-term benefits for families in the Louisiana community. This was partially offset by a $1.5 million gain related to a refund from Chilean authorities due to an overpayment made in a prior year. •Other expenses, net - $1.5 million gain related to the reversal of previously recorded liabilities of disposed businesses.
| December 31,
| 2020 |  | 2019 |  | 2018
|  |  | (In thousands) |  |
Identifiable assets: |  |  |  |  |
Lithium(a) | $ | 7,134,229 |  |  | $ | 6,570,791 |  |  | $ | 4,605,070 |
Bromine Specialties | 867,648 |  |  | 799,456 |  |  | 753,157 |
Catalysts | 1,066,089 |  |  | 1,163,590 |  |  | 1,134,975 |
All Other | 136,659 |  |  | 146,211 |  |  | 128,185 |
Corporate(b) | 1,246,321 |  |  | 1,180,815 |  |  | 960,287 |
Total identifiable assets | $ | 10,450,946 |  |  | $ | 9,860,863 |  |  | $ | 7,581,674 |
(a)Increase in Lithium identifiable assets at December 31, 2020 and 2019 primarily due to capital expenditures for growth and capacity increases, as well as the acquisition of 60% interest in MRL’s Wodgina Project assets.
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
|  |  | (In thousands) |  |
Depreciation and amortization: |  |  |  |  |
Lithium | $ | 112,854 |  |  | $ | 99,424 |  |  | $ | 95,193 |
Bromine Specialties | 50,310 |  |  | 47,611 |  |  | 41,607 |
Catalysts | 49,985 |  |  | 50,144 |  |  | 49,131 |
All Other | 8,498 |  |  | 8,440 |  |  | 8,073 |
Corporate | 10,337 |  |  | 7,865 |  |  | 6,694 |
Total depreciation and amortization | $ | 231,984 |  |  | $ | 213,484 |  |  | $ | 200,698 |
Capital expenditures: |  |  |  |  |
Lithium | $ | 720,563 |  |  | $ | 665,585 |  |  | $ | 500,849 |
Bromine Specialties | 57,486 |  |  | 82,208 |  |  | 79,357 |
Catalysts | 44,448 |  |  | 57,939 |  |  | 52,019 |
All Other | 6,792 |  |  | 7,309 |  |  | 5,232 |
Corporate | 21,188 |  |  | 38,755 |  |  | 62,534 |
Total capital expenditures | $ | 850,477 |  |  | $ | 851,796 |  |  | $ | 699,991 |
Net Sales by Geographic Area |
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
|  |  | (In thousands) |  |
Net Sales(a): |  |  |  |  |
United States | $ | 743,834 |  |  | $ | 858,084 |  |  | $ | 887,416 |
Foreign(b) | 2,385,075 |  |  | 2,731,343 |  |  | 2,487,534 |
Total | $ | 3,128,909 |  |  | $ | 3,589,427 |  |  | $ | 3,374,950 |
(a)Net sales are attributed to countries based upon shipments to final destination. (b)In 2020, net sales to Korea, China and Japan represented 14%, 14% and 13%, respectively, of total net sales. In 2019, net sales to Korea, China and Japan represented 17%, 13%, and 12%, respectively, of total net sales. In 2018, net sales to Korea, China and Japan represented 13%, 12%, and 10%, respectively, of total net sales.
Long-Lived Assets by Geographic Area |
| As of December 31,
| 2020 |  | 2019 |  | 2018
|  |  | (In thousands) |  |
Long-Lived Assets(a): |  |  |  |  |
United States | $ | 1,007,793 |  |  | $ | 1,003,496 |  |  | $ | 929,291 |
Australia | 2,362,377 |  |  | 1,981,642 |  |  | 407,141 |
Chile | 1,814,658 |  |  | 1,687,090 |  |  | 1,406,478 |
Jordan | 256,640 |  |  | 256,363 |  |  | 254,800 |
Netherlands | 181,206 |  |  | 165,782 |  |  | 166,853 |
China | 122,749 |  |  | 109,235 |  |  | 91,160 |
Germany | 90,174 |  |  | 89,568 |  |  | 101,168 |
France | 45,505 |  |  | 44,936 |  |  | 43,698 |
Brazil | 24,393 |  |  | 37,165 |  |  | 40,464 |
Other foreign countries | 66,273 |  |  | 68,499 |  |  | 65,937 |
Total | $ | 5,971,768 |  |  | $ | 5,443,776 |  |  | $ | 3,506,990 |
(a) Long-lived assets are comprised of the Company’s Property, plant and equipment and joint ventures included in Investments.

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