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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Net sales $ 2,394,270 [1] $ 2,519,154 [1] $ 2,651,667 [1]
Cost of goods sold 1,543,799 1,620,311 1,699,951
Gross profit 850,471 898,843 951,716
Selling, general and administrative expenses 158,189 308,456 354,885
Research and development expenses 82,246 78,919 77,083
Restructuring and other charges, net (Note 19) 33,361 [2] 111,685 [2] 0 [2]
Operating profit 576,675 399,783 519,748
Interest and financing expenses (31,559) (32,800) (37,574)
Other (expenses) income, net (6,674) 1,229 357
Income from continuing operations before income taxes and equity in net income of unconsolidated investments 538,442 368,212 482,531
Income tax expense 134,445 80,433 104,471
Income from continuing operations before equity in net income of unconsolidated investments 403,997 287,779 378,060
Equity in net income of unconsolidated investments (net of tax) 31,729 38,067 43,754
Net income from continuing operations 435,726 325,846 421,814
Income (loss) from discontinued operations (net of tax) 4,108 4,281 (1,617)
Net income 439,834 330,127 420,197
Net income attributable to noncontrolling interests (26,663) (18,591) (28,083)
Net income attributable to Albemarle Corporation $ 413,171 $ 311,536 $ 392,114
Basic earnings per share from continuing operations (in dollars per share) $ 4.88 $ 3.44 $ 4.35
Basic earnings (loss) per share from discontinued operations (in dollars per share) $ 0.05 $ 0.05 $ (0.02)
Basic earnings per share (in dollars per share) $ 4.93 $ 3.49 $ 4.33
Diluted earnings per share from continuing operations (in dollars per share) $ 4.85 $ 3.42 $ 4.30
Diluted earnings (loss) per share from discontinued operations (in dollars per share) $ 0.05 $ 0.05 $ (0.02)
Diluted earnings per share (in dollars per share) $ 4.90 $ 3.47 $ 4.28
Weighted-average common shares outstanding-basic (in shares) 83,839 89,189 90,522
Weighted-average common shares outstanding-diluted (in dollars per share) 84,322 89,884 91,522
Cash dividends declared per share of common stock (in dollars per share) $ 0.96 $ 0.80 $ 0.67
[1] No sales in a foreign country exceed 10% of total net sales. Also, net sales are attributed to countries based upon shipments to final destination.
[2] See Note 19, “Special Items.”