XML 73 R62.htm IDEA: XBRL DOCUMENT v3.5.0.2
Segment Information Summarized Financial Information by Reportable Segments (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Segment Reporting Information [Line Items]        
Net sales $ 654,010 $ 693,216 $ 1,980,548 $ 2,103,819
Adjusted EBITDA (188,329) (180,681) (570,833) (581,519)
Net income attributable to Albemarle Corporation (128,220) (65,392) (41,585) (160,654)
Depreciation and amortization     176,499 200,372
Restructuring and other, net 0 (6,804) 0 (6,804)
(Gain) loss on sales of businesses, net 0 0 (122,298) 0
Acquisition and integration related costs 6,749 36,514 44,337 117,171
Interest and financing expenses 15,946 19,294 46,860 62,193
Income tax expense 12,394 13,144 61,535 41,780
(Income) loss from discontinued operations (net of tax) (23,185) (11,030) 357,843 (19,074)
All Other        
Segment Reporting Information [Line Items]        
Net sales 28,272 102,224 150,987 337,997
Adjusted EBITDA (5,470) (6,262) (14,810) (29,540)
Corporate        
Segment Reporting Information [Line Items]        
Net sales 365 6,354 2,655 12,117
Adjusted EBITDA 25,627 16,307 66,435 8,350
Reportable Segments | Lithium and Advanced Materials        
Segment Reporting Information [Line Items]        
Net sales 240,424 208,820 689,950 620,597
Adjusted EBITDA (91,719) (77,408) (260,861) (234,988)
Reportable Segments | Bromine Specialties        
Segment Reporting Information [Line Items]        
Net sales 194,496 190,716 597,912 604,267
Adjusted EBITDA (51,807) (58,801) (179,977) (180,431)
Reportable Segments | Refining Solutions        
Segment Reporting Information [Line Items]        
Net sales 190,453 185,102 539,044 528,841
Adjusted EBITDA (64,960) (54,517) (181,620) (144,910)
Continuing Operations        
Segment Reporting Information [Line Items]        
Adjusted EBITDA 188,329 180,681 570,833 581,519
Net income attributable to Albemarle Corporation 128,220 65,392 41,585 160,654
Depreciation and amortization 47,974 48,643 141,288 142,805
Utilization of inventory markup [1]   16,834   82,268
Restructuring and other, net [2]   (6,804)   (6,804)
(Gain) loss on sales of businesses, net [3]     (122,298)  
Acquisition and integration related costs [4] 6,749 36,514 44,337 117,171
Interest and financing expenses 15,946 19,294 46,860 62,193
Income tax expense 12,394 13,144 61,535 41,780
(Income) loss from discontinued operations (net of tax) (23,185) (11,030) 357,843 (19,074)
Non-operating pension and OPEB items (231) (1,306) (779) (3,915)
Other 462 [5]   462 [5] 4,441 [6]
Continuing Operations | All Other        
Segment Reporting Information [Line Items]        
Adjusted EBITDA 5,470 6,262 14,810 29,540
Net income attributable to Albemarle Corporation 3,806 617 133,012 9,644
Depreciation and amortization 1,664 5,645 5,629 16,867
Utilization of inventory markup [1]   0   3,029
Restructuring and other, net [2]   0   0
(Gain) loss on sales of businesses, net [3]     (123,831)  
Acquisition and integration related costs [4] 0 0 0 0
Interest and financing expenses 0 0 0 0
Income tax expense 0 0 0 0
(Income) loss from discontinued operations (net of tax) 0 0 0 0
Non-operating pension and OPEB items 0 0 0 0
Other 0 [5]   0 [5] 0 [6]
Continuing Operations | Corporate        
Segment Reporting Information [Line Items]        
Adjusted EBITDA (25,627) (16,307) (66,435) (8,350)
Net income attributable to Albemarle Corporation (39,354) (68,831) (582,788) (211,075)
Depreciation and amortization 1,592 2,712 4,562 6,933
Utilization of inventory markup [1]   0   0
Restructuring and other, net [2]   (6,804)   (6,804)
(Gain) loss on sales of businesses, net [3]     1,533  
Acquisition and integration related costs [4] 6,749 36,514 44,337 117,171
Interest and financing expenses 15,946 19,294 46,860 62,193
Income tax expense 12,394 13,144 61,535 41,780
(Income) loss from discontinued operations (net of tax) (23,185) (11,030) 357,843 (19,074)
Non-operating pension and OPEB items (231) (1,306) (779) (3,915)
Other 462 [5]   462 [5] 4,441 [6]
Continuing Operations | Reportable Segments | Lithium and Advanced Materials        
Segment Reporting Information [Line Items]        
Adjusted EBITDA 91,719 77,408 260,861 234,988
Net income attributable to Albemarle Corporation 66,166 38,498 186,373 88,219
Depreciation and amortization 25,553 22,076 74,488 67,530
Utilization of inventory markup [1]   16,834   79,239
Restructuring and other, net [2]   0   0
(Gain) loss on sales of businesses, net [3]     0  
Acquisition and integration related costs [4] 0 0 0 0
Interest and financing expenses 0 0 0 0
Income tax expense 0 0 0 0
(Income) loss from discontinued operations (net of tax) 0 0 0 0
Non-operating pension and OPEB items 0 0 0 0
Other 0 [5]   0 [5] 0 [6]
Continuing Operations | Reportable Segments | Bromine Specialties        
Segment Reporting Information [Line Items]        
Adjusted EBITDA 51,807 58,801 179,977 180,431
Net income attributable to Albemarle Corporation 41,621 49,395 150,221 154,353
Depreciation and amortization 10,186 9,406 29,756 26,078
Utilization of inventory markup [1]   0   0
Restructuring and other, net [2]   0   0
(Gain) loss on sales of businesses, net [3]     0  
Acquisition and integration related costs [4] 0 0 0 0
Interest and financing expenses 0 0 0 0
Income tax expense 0 0 0 0
(Income) loss from discontinued operations (net of tax) 0 0 0 0
Non-operating pension and OPEB items 0 0 0 0
Other 0 [5]   0 [5] 0 [6]
Continuing Operations | Reportable Segments | Refining Solutions        
Segment Reporting Information [Line Items]        
Adjusted EBITDA 64,960 54,517 181,620 144,910
Net income attributable to Albemarle Corporation 55,981 45,713 154,767 119,513
Depreciation and amortization 8,979 8,804 26,853 25,397
Utilization of inventory markup [1]   0   0
Restructuring and other, net [2]   0   0
(Gain) loss on sales of businesses, net [3]     0  
Acquisition and integration related costs [4] 0 0 0 0
Interest and financing expenses 0 0 0 0
Income tax expense 0 0 0 0
(Income) loss from discontinued operations (net of tax) 0 0 0 0
Non-operating pension and OPEB items 0 0 0 0
Other 0 [5]   0 [5] 0 [6]
Continuing Operations | Reportable Segments | Reportable Segments Total        
Segment Reporting Information [Line Items]        
Adjusted EBITDA 208,486 190,726 622,458 560,329
Net income attributable to Albemarle Corporation 163,768 133,606 491,361 362,085
Depreciation and amortization 44,718 40,286 131,097 119,005
Utilization of inventory markup [1]   16,834   79,239
Restructuring and other, net [2]   0   0
(Gain) loss on sales of businesses, net [3]     0  
Acquisition and integration related costs [4] 0 0 0 0
Interest and financing expenses 0 0 0 0
Income tax expense 0 0 0 0
(Income) loss from discontinued operations (net of tax) 0 0 0 0
Non-operating pension and OPEB items 0 $ 0 0 0
Other $ 0 [5]   $ 0 [5] $ 0 [6]
[1] 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 $103.4 million. The inventory markup was expensed over the estimated remaining selling period. For the three-month and nine-month periods ended September 30, 2015, $7.7 million and $55.4 million, respectively, was included in Cost of goods sold, and Equity in net income of unconsolidated investments was reduced by $9.1 million and $26.9 million, respectively, related to the utilization of the inventory markup.
[2] Gain recognized upon the sale of land in Avonmouth, UK, which was utilized by the phosphorus flame retardants business we exited in 2012.
[3] See Note 3, “Divestitures,” for additional information.
[4] See Note 2, “Acquisitions,” for additional information.
[5] Includes the write-off of fixed assets of $1.4 million included in Research and development expenses, partially offset by a net gain of $0.9 million on the sales of properties included in Other income, net.
[6] Financing-related fees expensed in connection with the acquisition of Rockwood.