XML 28 R17.htm IDEA: XBRL DOCUMENT
v3.25.2

Equity | 6 Months Ended
--- | ---
Jun. 30, 2025
Equity [Abstract] |
Equity | Equity: Common Stock On May 6, 2025, the Company’s board of directors declared a cash dividend of $0.405 per share. This dividend was paid on July 1, 2025 to shareholders of record at the close of business as of June 13, 2025. On July 22, 2025, the Company’s board of directors declared a cash dividend of $0.405 per share, which is payable on October 1, 2025 to shareholders of record at the close of business as of September 12, 2025. Mandatory Convertible Preferred Stock On March 8, 2024, the Company issued 46,000,000 depositary shares (“Depositary Shares”), each representing a 1/20th interest in a share of Series A Mandatory Convertible Preferred Stock (“Mandatory Convertible Preferred Stock”). The 2,300,000 shares of Mandatory Convertible Preferred Stock issued had a $1,000 per share liquidation preference. As a result of this transaction, the Company received cash proceeds of approximately $2.2 billion, net of underwriting fees and offering costs. Dividends on the Mandatory Convertible Preferred Stock are payable on a cumulative basis when, as and if declared by the Albemarle board of directors, or an authorized committee thereof, at an annual rate of 7.25% on the liquidation preference of $1,000 per share, and may be paid in cash or, subject to certain limitations, in shares of common stock or, subject to certain limitations, any combination of cash and shares of common stock. Dividends that are declared on the Mandatory Convertible Preferred Stock will be payable quarterly to the holders of record on the February 15, May 15, August 15 and November 15 of each year, immediately preceding the relevant dividend payment date, whether or not such holders convert their Depositary Shares, or such Depositary Shares are automatically converted, after a record date and on or prior to the immediately succeeding dividend payment date. The Company pays a quarterly cash dividend of $18.125 per share of Mandatory Convertible Preferred Stock. Dividends are expected to be paid on March 1, June 1, September 1 and December 1 of each year ending on, and including, March 1, 2027. The Company may not redeem the shares of the Mandatory Convertible Preferred Stock. However, at its option, the Company may purchase the Mandatory Convertible Preferred Stock from time to time on the open market, by tender offer, exchange offer or otherwise. Unless converted earlier in accordance with its terms, each share of Mandatory Convertible Preferred Stock will automatically convert on the mandatory conversion date, which is expected to be March 1, 2027, into between 7.618 shares and 9.140 shares of common stock, in each case, subject to customary anti-dilution adjustments described in the certificate of designations related to the Mandatory Convertible Preferred Stock (the “Certificate of Designations”). The number of shares of common stock issuable upon conversion will be determined based on the average volume weighted average price per share of common stock over the 20 consecutive trading day period beginning on, and including, the 21st scheduled trading day immediately prior to March 1, 2027. Holders of shares of Mandatory Convertible Preferred Stock have the option to convert all or any portion of their shares of the Mandatory Convertible Preferred Stock at any time. The conversion rate applicable to any early conversion may in certain circumstances be increased to compensate holders of the Mandatory Convertible Preferred Stock for certain unpaid accumulated dividends as described in the Certificate of Designations. If a Fundamental Change, as defined in the Certificate of Designations, occurs on or prior to March 1, 2027, then holders of the Mandatory Convertible Preferred Stock will be entitled to convert all or any portion of their Mandatory Convertible Preferred Stock at the fundamental change conversion rate, as defined in the Certificate of Designations, as for a specified period of time and to also receive an amount to compensate them for certain unpaid accumulated dividends and any remaining future scheduled dividend payments. There were 2,300,000 shares of Mandatory Convertible Preferred Stock issued and outstanding at June 30, 2025. Accumulated Other Comprehensive Loss The components and activity in Accumulated other comprehensive loss (net of deferred income taxes) consisted of the following during the periods indicated below (in thousands):
| Three Months Ended June 30, 2025 |  | Three Months Ended June 30, 2024
| Foreign Currency Translation and Other |  |  |  |  |  | Cash Flow Hedge(a) |  |  |  |  |  | Total |  | Foreign Currency Translation and Other |  | Cash Flow Hedge(a) |  | Total
Balance, beginning of period | $ | (638,169) |  |  |  |  |  |  | $ | 5,033 |  |  |  |  |  |  | $ | (633,136) |  |  | $ | (586,620) |  |  | $ | (10,585) |  |  | $ | (597,205) |
Other comprehensive income (loss) before reclassifications | 268,742 |  |  |  |  |  |  | 165 |  |  |  |  |  |  | 268,907 |  |  | (46,767) |  |  | 4,060 |  |  | (42,707) |
Amounts reclassified from accumulated other comprehensive loss | 16 |  |  |  |  |  |  | (272) |  |  |  |  |  |  | (256) |  |  | 16 |  |  | 2,557 |  |  | 2,573 |
Other comprehensive income (loss), net of tax | 268,758 |  |  |  |  |  |  | (107) |  |  |  |  |  |  | 268,651 |  |  | (46,751) |  |  | 6,617 |  |  | (40,134) |
Other comprehensive income attributable to noncontrolling interests | (59) |  |  |  |  |  |  | — |  |  |  |  |  |  | (59) |  |  | (212) |  |  | — |  |  | (212) |
Balance, end of period | $ | (369,470) |  |  |  |  |  |  | $ | 4,926 |  |  |  |  |  |  | $ | (364,544) |  |  | $ | (633,583) |  |  | $ | (3,968) |  |  | $ | (637,551) |
| Six Months Ended June 30, 2025 |  | Six Months Ended June 30, 2024
| Foreign Currency Translation and Other |  |  |  |  |  | Cash Flow Hedge(a) |  |  |  |  |  | Total |  | Foreign Currency Translation and Other |  | Cash Flow Hedge(a) |  | Total
Balance, beginning of period | $ | (747,202) |  |  |  |  |  |  | $ | 5,140 |  |  |  |  |  |  | $ | (742,062) |  |  | $ | (536,601) |  |  | $ | 8,075 |  |  | $ | (528,526) |
Other comprehensive income (loss) before reclassifications | 377,741 |  |  |  |  |  |  | (66) |  |  |  |  |  |  | 377,675 |  |  | (97,004) |  |  | (17,282) |  |  | (114,286) |
Amounts reclassified from accumulated other comprehensive loss | 32 |  |  |  |  |  |  | (148) |  |  |  |  |  |  | (116) |  |  | 33 |  |  | 5,239 |  |  | 5,272 |
Other comprehensive income (loss), net of tax | 377,773 |  |  |  |  |  |  | (214) |  |  |  |  |  |  | 377,559 |  |  | (96,971) |  |  | (12,043) |  |  | (109,014) |
Other comprehensive income attributable to noncontrolling interests | (41) |  |  |  |  |  |  | — |  |  |  |  |  |  | (41) |  |  | (11) |  |  | — |  |  | (11) |
Balance, end of period | $ | (369,470) |  |  |  |  |  |  | $ | 4,926 |  |  |  |  |  |  | $ | (364,544) |  |  | $ | (633,583) |  |  | $ | (3,968) |  |  | $ | (637,551) |
(a)We previously entered into a foreign currency forward contract, which was designated and accounted for as a cash flow hedge under ASC 815, Derivatives and Hedging. During 2024, the Company dedesignated the remaining foreign currency forward contracts accounted for as cash flow hedges. The related loss was reclassified to Other (expenses) income, net during the six-month period ended June 30, 2024. The balance of the settled hedged foreign currency forward contracts will be reclassified to earnings over the life of the related assets. See Note 9, “Restructuring Charges and Asset Write-offs,” and Note 14, “Fair Value of Financial Instruments,” for additional information. The amount of income tax benefit (expense) allocated to each component of Other comprehensive income (loss) for the three-month and six-month periods ended June 30, 2025 and 2024 is provided in the following tables (in thousands):
| Three Months Ended June 30, 2025 |  | Three Months Ended June 30, 2024
| Foreign Currency Translation and Other |  |  |  |  |  | Cash Flow Hedge |  |  |  | Total |  | Foreign Currency Translation and Other |  | Cash Flow Hedge |  | Total
Other comprehensive income (loss), before tax | $ | 263,101 |  |  |  |  |  |  | $ | (107) |  |  |  |  | $ | 262,994 |  |  | $ | (46,747) |  |  | $ | 9,453 |  |  | $ | (37,294) |
Income tax benefit (expense) | 5,657 |  |  |  |  |  |  | — |  |  |  |  | 5,657 |  |  | (4) |  |  | (2,836) |  |  | (2,840) |
Other comprehensive income (loss), net of tax | $ | 268,758 |  |  |  |  |  |  | $ | (107) |  |  |  |  | $ | 268,651 |  |  | $ | (46,751) |  |  | $ | 6,617 |  |  | $ | (40,134) |
| Six Months Ended June 30, 2025 |  | Six Months Ended June 30, 2024
| Foreign Currency Translation and Other |  |  |  |  |  | Cash Flow Hedge |  |  |  | Total |  | Foreign Currency Translation and Other |  | Cash Flow Hedge |  | Total
Other comprehensive income (loss), before tax | $ | 372,119 |  |  |  |  |  |  | $ | (214) |  |  |  |  | $ | 371,905 |  |  | $ | (96,964) |  |  | $ | (17,204) |  |  | $ | (114,168) |
Income tax benefit (expense) | 5,654 |  |  |  |  |  |  | — |  |  |  |  | 5,654 |  |  | (7) |  |  | 5,161 |  |  | 5,154 |
Other comprehensive income (loss), net of tax | $ | 377,773 |  |  |  |  |  |  | $ | (214) |  |  |  |  | $ | 377,559 |  |  | $ | (96,971) |  |  | $ | (12,043) |  |  | $ | (109,014) |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478448/946-505-50-6 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-6 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-16 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration