EX-99.1 2 exhibit9910326148k.htm EXHIBIT Exhibit 99.1 03.26.14 8K
Albemarle Corporation and Subsidiaries
 


Exhibit 99.1
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
2010
 
(In thousands)
Net sales:
 
 
 
 
 
 
 
Performance Chemicals
$
1,430,652

 
$
1,506,960

 
$
1,586,246

 
$
1,324,379

Catalyst Solutions
1,185,764

 
1,238,460

 
1,282,759

 
1,038,385

Total net sales
$
2,616,416

 
$
2,745,420

 
$
2,869,005

 
$
2,362,764

Segment operating profit:
 
 
 
 
 
 
 
Performance Chemicals
$
324,602

 
$
405,764

 
$
435,478

 
$
294,861

Catalyst Solutions
210,229

 
241,624

 
267,147

 
212,899

Total segment operating profit
534,831

 
647,388

 
702,625

 
507,760

Equity in net income of unconsolidated investments:
 
 
 
 
 
 
 
Performance Chemicals
8,875

 
6,416

 
7,696

 
8,734

Catalyst Solutions
22,854

 
31,651

 
36,259

 
29,648

Corporate & other

 

 
(201
)
 
(407
)
Total equity in net income of unconsolidated
investments
31,729

 
38,067

 
43,754

 
37,975

Net (income) loss attributable to noncontrolling interests:
 
 
 
 
 
 
 
Performance Chemicals
(26,663
)
 
(18,571
)
 
(28,109
)
 
(13,511
)
Corporate & other

 
(20
)
 
26

 
(128
)
Total net income attributable to noncontrolling
interests
(26,663
)
 
(18,591
)
 
(28,083
)
 
(13,639
)
Segment income:
 
 
 
 
 
 
 
Performance Chemicals
306,814

 
393,609

 
415,065

 
290,084

Catalyst Solutions
233,083

 
273,275

 
303,406

 
242,547

Total segment income
539,897

 
666,884

 
718,471

 
532,631

Corporate & other
81,439

 
(129,559
)
 
(185,006
)
 
(99,394
)
Restructuring and other charges
(33,361
)
 
(111,685
)
 

 
(6,958
)
Interest and financing expenses
(31,559
)
 
(32,800
)
 
(37,574
)
 
(25,533
)
Other (expenses) income, net
(6,923
)
 
1,229

 
357

 
2,788

Income tax expense
(136,322
)
 
(82,533
)
 
(104,134
)
 
(87,756
)
Net income attributable to Albemarle Corporation
$
413,171

 
$
311,536

 
$
392,114

 
$
315,778


 
Year Ended December 31,
 
2013
 
2012
 
2011
 
2010
 
(In thousands)
Net sales - Performance Chemicals:
 
 
 
 
 
 
 
Fire Safety Solutions
$
620,972

 
$
665,293

 
$
780,541

 
$
688,801

Specialty Chemicals
520,998

 
519,606

 
515,511

 
427,610

Fine Chemistry Services
288,682

 
322,061

 
290,194

 
207,968

Total Performance Chemicals
$
1,430,652

 
$
1,506,960

 
$
1,586,246

 
$
1,324,379

 
 
 
 
 
 
 
 
Net sales - Catalyst Solutions:
 
 
 
 
 
 
 
Refinery Catalyst Solutions
$
768,837

 
$
794,933

 
$
851,482

 
$
668,591

Performance Catalyst Solutions
232,769

 
273,015

 
265,381

 
221,416

Antioxidants
184,158

 
170,512

 
165,896

 
148,378

Total Catalyst Solutions
$
1,185,764

 
$
1,238,460

 
$
1,282,759

 
$
1,038,385




Albemarle Corporation and Subsidiaries
 


 
2013
 
2012
 
1st
Quarter
 
2nd
Quarter
 
3rd
Quarter
 
4th
Quarter
 
1st
Quarter
 
2nd
Quarter
 
3rd
Quarter
 
4th
Quarter
 
(In thousands)
Net sales:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Performance Chemicals
$
361,941

 
$
355,168

 
$
373,329

 
$
340,214

 
$
378,243

 
$
411,890

 
$
366,196

 
$
350,631

Catalyst Solutions
279,684

 
279,029

 
275,309

 
351,742

 
333,461

 
273,004

 
295,030

 
336,965

Total net sales
$
641,625

 
$
634,197

 
$
648,638

 
$
691,956

 
$
711,704

 
$
684,894

 
$
661,226

 
$
687,596

Segment operating profit:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Performance Chemicals
$
82,933

 
$
88,145

 
$
88,075

 
$
65,449

 
$
104,534

 
$
118,857

 
$
99,515

 
$
82,858

Catalyst Solutions
47,175

 
40,614

 
51,499

 
70,941

 
72,674

 
53,133

 
49,745

 
66,072

Total segment operating profit
130,108

 
128,759

 
139,574

 
136,390

 
177,208

 
171,990

 
149,260

 
148,930

Equity in net income of unconsolidated
investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Performance Chemicals
2,308

 
2,328

 
1,735

 
2,504

 
1,845

 
1,913

 
1,199

 
1,459

Catalyst Solutions
7,953

 
7,381

 
3,603

 
3,917

 
6,741

 
10,799

 
6,736

 
7,375

Total equity in net income of
unconsolidated investments
10,261

 
9,709

 
5,338

 
6,421

 
8,586

 
12,712

 
7,935

 
8,834

Net (income) loss attributable to
noncontrolling interests:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Performance Chemicals
(5,529
)
 
(8,389
)
 
(7,332
)
 
(5,413
)
 
(4,374
)
 
(3,483
)
 
(4,975
)
 
(5,739
)
Corporate & other

 

 

 

 
3

 
(23
)
 

 

Total net income attributable to
noncontrolling interests
(5,529
)
 
(8,389
)
 
(7,332
)
 
(5,413
)
 
(4,371
)
 
(3,506
)
 
(4,975
)
 
(5,739
)
Segment income:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Performance Chemicals
79,712

 
82,084

 
82,478

 
62,540

 
102,005

 
117,287

 
95,739

 
78,578

Catalyst Solutions
55,128

 
47,995

 
55,102

 
74,858

 
79,415

 
63,932

 
56,481

 
73,447

Total segment income
134,840

 
130,079

 
137,580

 
137,398

 
181,420

 
181,219

 
152,220

 
152,025

Corporate & other
(15,221
)
 
(16,585
)
 
(9,909
)
 
123,154

 
(19,278
)
 
(5,371
)
 
(4,745
)
 
(100,165
)
Restructuring and other charges

 

 

 
(33,361
)
 

 
(94,703
)
 

 
(16,982
)
Interest and financing expenses
(5,231
)
 
(7,608
)
 
(9,496
)
 
(9,224
)
 
(8,734
)
 
(8,486
)
 
(7,914
)
 
(7,666
)
Other (expenses) income, net
(4,209
)
 
(1,697
)
 
(389
)
 
(628
)
 
(118
)
 
(688
)
 
2,370

 
(335
)
Income tax (expense) benefit
(26,192
)
 
(21,450
)
 
(27,274
)
 
(61,406
)
 
(39,028
)
 
(21,882
)
 
(32,472
)
 
10,849

Net income attributable to Albemarle
Corporation
$
83,987

 
$
82,739

 
$
90,512

 
$
155,933

 
$
114,262

 
$
50,089

 
$
109,459

 
$
37,726