Segment Information (Tables)

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Reportable Segments Summarized Financial Information

	Three Months Ended   March 31,
	2015		2014
	(In thousands)
Net sales:
Performance Chemicals	$	388,366	$	275,897
Refining Solutions	179,166		194,661
Chemetall Surface Treatment	192,091		—
All Other	122,369		129,285
Corporate	2,412		—
Total net sales	$	884,404	$	599,843
Adjusted EBITDA:
Performance Chemicals	$	130,528	$	73,385
Refining Solutions	42,193		61,034
Chemetall Surface Treatment	46,004		—
All Other	13,564		20,695
Corporate	33,339		(19,084		)
Total Adjusted EBITDA	$	265,628	$	136,030

See below for a reconciliation of adjusted EBITDA, the non-GAAP financial measure, to Net income (loss) attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with GAAP, (in thousands):

	Performance Chemicals			Refining Solutions			Chemetall Surface Treatment			Reportable Segments Total			All Other			Corporate			Consolidated Total
Three months ended March 31, 2015
Adjusted EBITDA	$	130,528		$	42,193		$	46,004		$	218,725		$	13,564		$	33,339		$	265,628
Depreciation and amortization	(30,283		)	(8,110		)	(18,196		)	(56,589		)	(5,498		)	(1,899		)	(63,986		)
Utilization of inventory markup(a)	(28,582		)	—			(16,953		)	(45,535		)	(2,651		)	—			(48,186		)
Acquisition and integration related costs(b)	—			—			—			—			—			(59,523		)	(59,523		)
Interest and financing expenses	—			—			—			—			—			(35,746		)	(35,746		)
Income tax expense	—			—			—			—			—			(14,140		)	(14,140		)
Non-operating pension and OPEB items	—			—			—			—			—			3,509			3,509
Other(c)	—			—			—			—			—			(4,441		)	(4,441		)
Net income (loss) attributable to Albemarle Corporation	$	71,663		$	34,083		$	10,855		$	116,601		$	5,415		$	(78,901	)	$	43,115
Three months ended March 31, 2014
Adjusted EBITDA	$	73,385		$	61,034		$	—		$	134,419		$	20,695		$	(19,084	)	$	136,030
Depreciation and amortization(d)	(12,056		)	(8,680		)	—			(20,736		)	(3,364		)	(544		)	(24,644		)
Restructuring and other charges, net(e)	—			—			—			—			—			(17,000		)	(17,000		)
Interest and financing expenses	—			—			—			—			—			(8,773		)	(8,773		)
Income tax expense	—			—			—			—			—			(13,190		)	(13,190		)
Loss from discontinued operations (net of tax)	—			—			—			—			—			(1,769		)	(1,769		)
Non-operating pension and OPEB items	—			—			—			—			—			(14,071		)	(14,071		)
Net income (loss) attributable to Albemarle Corporation	$	61,329		$	52,354		$	—		$	113,683		$	17,331		$	(74,431	)	$	56,583

(a) In connection with the acquisition of Rockwood, the Company valued Rockwood’s existing inventory at fair value as of the Acquisition Closing Date, which resulted in a markup of the underlying net book value of the inventory totaling approximately $103 million. The inventory markup is being expensed over the estimated remaining selling period. For the three-month period ended March 31, 2015, $40.3 million was included in Cost of goods sold, and Equity in net income of unconsolidated investments was reduced by $7.9 million, related to the utilization of the inventory markup.

(b) See Note 2, “Acquisitions.”

(c) Financing-related fees expensed in the 2015 period in connection with the acquisition of Rockwood.

(d) Excludes discontinued operations.

(e) See Note 15, “Restructuring and Other.”