Divestitures Divestitures

3 Months Ended

Mar. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Divestitures:

In 2015, we announced our intention to pursue strategic alternatives, including divestitures, related to certain businesses which include minerals-based flame retardants and specialty chemicals, fine chemistry services and metal sulfides. In the fourth quarter of 2015, we determined that the assets held for sale criteria were met for these businesses as well as a small group of assets at an idled site.

On November 5, 2015, the Company signed a definitive agreement to sell its Tribotecc metal sulfides business to Treibacher Industrie AG. Included in the transaction were sites in Vienna and Arnoldstein, Austria, and Tribotecc’s proprietary sulfide synthesis process. On January 4, 2016, the Company closed the sale of this business,effective for the first day of business in 2016.We received net proceeds of approximately $137 million and have recorded a gain of $11.5 million before income taxes in the first quarter of 2016 related to the sale of this business.

On December 16, 2015, the Company signed a definitive agreement to sell its minerals-based flame retardants and specialty chemicals businesses to Huber Engineered Materials, a division of J.M. Huber Corporation. The transaction includes Albemarle’s Martinswerk GmbH subsidiary and manufacturing facility located in Bergheim, Germany, and Albemarle’s50%ownership interest in Magnifin Magnesiaprodukte GmbH, a joint-venture withRadex Heraklith IndustriebeteiligungAG at Breitenau, Austria. On February 1, 2016, the Company closed the sale of these businesses. We received net proceeds of approximately $187 million and haverecordeda gain of $111.3 million before income taxes in the first quarter of 2016 related to the sale of these businesses.

The carrying amounts of the major classes of assets and liabilities that were classified as held for sale atMarch 31, 2016 and December 31, 2015, are as follows (in thousands):

	March 31,		December 31,
	2016		2015
Assets
Current assets	$	57,127	$	156,421
Net property, plant and equipment	46,452		115,865
Goodwill	6,586		46,794
Other intangibles, net of amortization	132		66,324
All other noncurrent assets	—		19,081
Assets held for sale	$	110,297	$	404,485
Liabilities
Current liabilities	$	28,618	$	72,756
Deferred income taxes	—		24,947
All other noncurrent liabilities	—		31,003
Liabilities held for sale	$	28,618	$	128,706

As ofMarch 31, 2016,Assets held for sale and Liabilities held for sale include the assets and liabilities, respectively, of the fine chemistry services business. We have determined that as of March 31, 2016, the expected cash flows of the fine chemistry services business were sufficient to establish recoverability of the asset carrying values, and therefore no impairment charge has been recorded in the accompanying financial statements under the held-for-sale model. In April 2016, the Company concluded that it would discontinue efforts to sell its fine chemistry services business, and as a result, this business will be accounted for as held and used in the second quarter of 2016.

As ofDecember 31, 2015, Assets held for sale and Liabilities held for sale included the assets and liabilities, respectively, of theminerals-based flame retardants and specialty chemicals and metal sulfides businesses divested in the first quarter of 2016, the fine chemistry services business,and a small group of assets at an idled site.

As of theMarch 31, 2016 and December 31, 2015balance sheet dates, the Company expected to complete the sales of the businesses included in assets and liabilities held for sale and therefore such amounts were classified as current. These businesses did not qualify for discontinued operations treatment because the Company’s management does not consider their sale or potential sale as representing a strategic shiftthat had or will have a major effect on the Company’s operations and financial results.

Also included in Gain on sales of businesses, net, for the first quarter of 2016 is a loss of $1.5 million on the sale of our wafer reclaim business.