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Earnings Per Share (Tables) | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Calculation of Basic and Diluted Earning Per Share | Basic and diluted (loss) earnings per share for the three-month and six-month periods ended June 30, 2024 and 2023 are calculated as follows (in thousands, except per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Basic (loss) earnings per share |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net (loss) income attributable to Albemarle Corporation | $ | (188,198) |  |  | $ | 650,043 |  |  | $ | (185,750) |  |  | $ | 1,888,623 |
Mandatory convertible preferred stock dividends | (41,688) |  |  | — |  |  | (53,272) |  |  | — |
Net (loss) income attributable to Albemarle Corporation common shareholders | $ | (229,886) |  |  | $ | 650,043 |  |  | $ | (239,022) |  |  | $ | 1,888,623 |
Denominator: |  |  |  |  |  |  |
Weighted-average common shares for basic (loss) earnings per share | 117,528 |  |  | 117,332 |  |  | 117,489 |  |  | 117,282 |
Basic (loss) earnings per share | $ | (1.96) |  |  | $ | 5.54 |  |  | $ | (2.03) |  |  | $ | 16.10 |
Diluted (loss) earnings per share |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net (loss) income attributable to Albemarle Corporation | $ | (188,198) |  |  | $ | 650,043 |  |  | $ | (185,750) |  |  | $ | 1,888,623 |
Mandatory convertible preferred stock dividends | (41,688) |  |  | — |  |  | (53,272) |  |  | — |
Net (loss) income attributable to Albemarle Corporation common shareholders | $ | (229,886) |  |  | $ | 650,043 |  |  | $ | (239,022) |  |  | $ | 1,888,623 |
Denominator: |  |  |  |  |  |  |
Weighted-average common shares for basic (loss) earnings per share | 117,528 |  |  | 117,332 |  |  | 117,489 |  |  | 117,282 |
Incremental shares under stock compensation plans | — |  |  | 437 |  |  | — |  |  | 523 |
Weighted-average common shares for diluted (loss) earnings per share | 117,528 |  |  | 117,769 |  |  | 117,489 |  |  | 117,805 |
Diluted (loss) earnings per share | $ | (1.96) |  |  | $ | 5.52 |  |  | $ | (2.03) |  |  | $ | 16.03 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following table summarizes the number of shares, calculated on a weighted average basis, not included in the computation of diluted earnings per share because their effect would have been anti-dilutive (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Shares assuming the conversion of the mandatory convertible preferred stock | 19,411 |  |  | — |  |  | 12,841 |  |  | — |
Shares under the stock compensation plans | 1,140 |  |  | 51 |  |  | 1,018 |  |  | 36 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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