Operating Segments

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Operating Segments

Operating Segments:

Segment income represents operating profit (adjusted for significant non-recurring items) and equity in net income of unconsolidated investments and is reduced by net income attributable to noncontrolling interests. Segment data includes intersegment transfers of raw materials at cost and allocations for certain corporate costs.

Summarized financial information concerning our reportable segments is shown in the following table. Corporate & other includes corporate-related items not allocated to the reportable segments.

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2013			2012			2013			2012
	(In thousands)
Net sales:
Polymer Solutions	$	224,320		$	216,992		$	663,410		$	692,139
Catalysts	226,042			251,201			695,433			773,867
Fine Chemistry	198,276			193,033			565,617			591,818
Total net sales	$	648,638		$	661,226		$	1,924,460		$	2,057,824
Segment operating profit:
Polymer Solutions	$	40,678		$	44,694		$	128,169		$	162,648
Catalysts	53,878			55,093			146,536			189,104
Fine Chemistry	43,894			48,336			120,349			142,403
Total segment operating profit	138,450			148,123			395,054			494,155
Equity in net income of unconsolidated investments:
Polymer Solutions	1,735			1,199			6,371			4,957
Catalysts	3,603			6,736			18,937			24,276
Fine Chemistry	—			—			—			—
Corporate & other	—			—			—			—
Total equity in net income of unconsolidated
investments	5,338			7,935			25,308			29,233
Net income attributable to noncontrolling interests:
Polymer Solutions	(916		)	(602		)	(4,118		)	(1,255		)
Catalysts	—			—			—			—
Fine Chemistry	(6,416		)	(4,373		)	(17,132		)	(11,577		)
Corporate & other	—			—			—			(20		)
Total net income attributable to noncontrolling
interests	(7,332		)	(4,975		)	(21,250		)	(12,852		)
Segment income:
Polymer Solutions	41,497			45,291			130,422			166,350
Catalysts	57,481			61,829			165,473			213,380
Fine Chemistry	37,478			43,963			103,217			130,826
Total segment income	136,456			151,083			399,112			510,556
Corporate & other	(8,785		)	(3,608		)	(38,328		)	(25,091		)
Restructuring and other charges, net(1)	—			—			—			(94,703		)
Interest and financing expenses	(9,496		)	(7,914		)	(22,335		)	(25,134		)
Other (expenses) income, net	(389		)	2,370			(6,295		)	1,564
Income tax expense	(27,274		)	(32,472		)	(74,916		)	(93,382		)
Net income attributable to Albemarle Corporation	$	90,512		$	109,459		$	257,238		$	273,810

(1) See Note 13, “Restructuring and Other.”

Effective January 1, 2014, the Company's assets and businesses will be realigned under two operating segments. The Performance Chemicals segment will include Fire Safety Solutions, Specialty Chemicals and Fine Chemistry Services, and the Catalyst Solutions segment will include Refinery Catalyst Solutions, Performance Catalyst Solutions and Antioxidants.