XML 152 R134.htm IDEA: XBRL DOCUMENT v3.6.0.2
Segment and Geographic Area Information Summarized Financial Information by Reportable Segments (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Segment Reporting Information [Line Items]                      
Net sales $ 696,655 $ 654,010 $ 669,327 $ 657,211 $ 722,610 $ 693,216 $ 718,290 $ 692,313 $ 2,677,203 $ 2,826,429 $ 2,445,548
Adjusted EBITDA                 (758,217) (756,000) (562,155)
Net income attributable to Albemarle Corporation (602,090) (128,220) 314,821 (228,186) (174,252) [1] (65,392) (52,147) (43,115) (643,675) (334,906) (133,316)
Depreciation and amortization                 226,169 260,076 103,572
(Gain) loss on sales of businesses, net 0 [2] 0 [2] (974) [2] (121,324) [2]         (122,298) 0 0
Restructuring and other, net         0 (6,804) [3] 0 0 0 (6,804) 25,947
Acquisition and integration related costs 13,047 [4] 6,749 [4] 19,030 [4] 18,558 [4] 15,128 [4] 36,514 [4] 22,832 [4] 57,825 [4] 57,384 132,299 30,158
Interest and financing expenses                 65,181 81,650 41,358
Income tax expense                 96,263 11,134 18,484
(Income) loss from discontinued operations (net of tax) $ (559,974) $ (23,185) $ 398,340 [5] $ (17,312) $ (13,402) $ (11,030) $ (10,148) $ 2,104 (202,131) (32,476) 69,531
Lithium and Advanced Materials                      
Segment Reporting Information [Line Items]                      
Net sales                 968,216 834,590 312,788
All Other                      
Segment Reporting Information [Line Items]                      
Net sales                 180,988 471,434 471,764
Adjusted EBITDA                 (14,772) (53,993) (73,973)
Depreciation and amortization                 7,302 18,183 13,478
Reportable Segments | Lithium and Advanced Materials                      
Segment Reporting Information [Line Items]                      
Net sales                 968,216 834,590 312,788
Adjusted EBITDA                 (363,360) (312,867) (81,596)
Depreciation and amortization                 101,966 84,069 15,790
Reportable Segments | Bromine Specialties                      
Segment Reporting Information [Line Items]                      
Net sales                 792,425 775,729 808,857
Adjusted EBITDA                 (226,926) (222,653) (224,976)
Depreciation and amortization                 39,562 36,179 35,917
Reportable Segments | Refining Solutions                      
Segment Reporting Information [Line Items]                      
Net sales                 732,137 729,261 852,139
Adjusted EBITDA                 (238,963) (197,595) (256,485)
Depreciation and amortization                 36,089 34,039 32,670
Corporate                      
Segment Reporting Information [Line Items]                      
Net sales                 3,437 15,415 0
Adjusted EBITDA                 85,804 31,108 74,875
Depreciation and amortization                 6,056 8,703 2,552
Continuing Operations                      
Segment Reporting Information [Line Items]                      
Adjusted EBITDA                 758,217 756,000 562,155
Net income attributable to Albemarle Corporation                 643,675 334,906 133,316
Depreciation and amortization                 190,975 181,173 100,407
(Gain) loss on sales of businesses, net [6]                 (122,298)    
Utilization of inventory markup [7]                   83,006  
Restructuring and other, net [8]                   (6,804) 25,947
Acquisition and integration related costs [9]                 57,384 132,299 30,158
Interest and financing expenses                 65,181 81,650 41,358
Income tax expense                 96,263 11,134 18,484
(Income) loss from discontinued operations (net of tax)                 (202,131) (32,476) 69,531
Non-operating pension and OPEB items                 25,589 (35,300) 125,462
Other                 3,579 [10] 6,412 [11] 17,492 [11]
Continuing Operations | All Other                      
Segment Reporting Information [Line Items]                      
Adjusted EBITDA                 14,772 53,993 73,973
Net income attributable to Albemarle Corporation                 131,301 32,781 60,495
Depreciation and amortization                 7,302 18,183 13,478
(Gain) loss on sales of businesses, net [6]                 (123,831)    
Utilization of inventory markup [7]                   3,029  
Restructuring and other, net [8]                   0 0
Acquisition and integration related costs [9]                 0 0 0
Interest and financing expenses                 0 0 0
Income tax expense                 0 0 0
(Income) loss from discontinued operations (net of tax)                 0 0 0
Non-operating pension and OPEB items                 0 0 0
Other                 0 [10] 0 [11] 0 [11]
Continuing Operations | Reportable Segments | Lithium and Advanced Materials                      
Segment Reporting Information [Line Items]                      
Adjusted EBITDA                 363,360 312,867 81,596
Net income attributable to Albemarle Corporation                 261,394 148,821 65,806
Depreciation and amortization                 101,966 84,069 15,790
(Gain) loss on sales of businesses, net [6]                 0    
Utilization of inventory markup [7]                   79,977  
Restructuring and other, net [8]                   0 0
Acquisition and integration related costs [9]                 0 0 0
Interest and financing expenses                 0 0 0
Income tax expense                 0 0 0
(Income) loss from discontinued operations (net of tax)                 0 0 0
Non-operating pension and OPEB items                 0 0 0
Other                 0 [10] 0 [11] 0 [11]
Continuing Operations | Reportable Segments | Bromine Specialties                      
Segment Reporting Information [Line Items]                      
Adjusted EBITDA                 226,926 222,653 224,976
Net income attributable to Albemarle Corporation                 187,364 186,474 189,059
Depreciation and amortization                 39,562 36,179 35,917
(Gain) loss on sales of businesses, net [6]                 0    
Utilization of inventory markup [7]                   0  
Restructuring and other, net [8]                   0 0
Acquisition and integration related costs [9]                 0 0 0
Interest and financing expenses                 0 0 0
Income tax expense                 0 0 0
(Income) loss from discontinued operations (net of tax)                 0 0 0
Non-operating pension and OPEB items                 0 0 0
Other                 0 [10] 0 [11] 0 [11]
Continuing Operations | Reportable Segments | Refining Solutions                      
Segment Reporting Information [Line Items]                      
Adjusted EBITDA                 238,963 197,595 256,485
Net income attributable to Albemarle Corporation                 202,874 161,585 223,815
Depreciation and amortization                 36,089 34,039 32,670
(Gain) loss on sales of businesses, net [6]                 0    
Utilization of inventory markup [7]                   0  
Restructuring and other, net [8]                   0 0
Acquisition and integration related costs [9]                 0 0 0
Interest and financing expenses                 0 0 0
Income tax expense                 0 0 0
(Income) loss from discontinued operations (net of tax)                 0 0 0
Non-operating pension and OPEB items                 0 0 0
Other                 0 [10] 1,971 [11] 0 [11]
Continuing Operations | Reportable Segments | Reportable Segments Total                      
Segment Reporting Information [Line Items]                      
Adjusted EBITDA                 829,249 733,115 563,057
Net income attributable to Albemarle Corporation                 651,632 496,880 478,680
Depreciation and amortization                 177,617 154,287 84,377
(Gain) loss on sales of businesses, net [6]                 0    
Utilization of inventory markup [7]                   79,977  
Restructuring and other, net [8]                   0 0
Acquisition and integration related costs [9]                 0 0 0
Interest and financing expenses                 0 0 0
Income tax expense                 0 0 0
(Income) loss from discontinued operations (net of tax)                 0 0 0
Non-operating pension and OPEB items                 0 0 0
Other                 0 [10] 1,971 [11] 0 [11]
Continuing Operations | Corporate                      
Segment Reporting Information [Line Items]                      
Adjusted EBITDA                 (85,804) (31,108) (74,875)
Net income attributable to Albemarle Corporation                 (139,258) (194,755) (405,859)
Depreciation and amortization                 6,056 8,703 2,552
(Gain) loss on sales of businesses, net [6]                 1,533    
Utilization of inventory markup [7]                   0  
Restructuring and other, net [8]                   (6,804) 25,947
Acquisition and integration related costs [9]                 57,384 132,299 30,158
Interest and financing expenses                 65,181 81,650 41,358
Income tax expense                 96,263 11,134 18,484
(Income) loss from discontinued operations (net of tax)                 (202,131) (32,476) 69,531
Non-operating pension and OPEB items                 25,589 (35,300) 125,462
Other                 $ 3,579 [10] $ 4,441 [11] $ 17,492 [11]
[1] The fourth quarter of 2015 includes an income tax benefit of $43.1 million primarily related to the release of certain tax reserves associated with lapses in statutes of limitations and audit closures.
[2] Included in Gain on sales of businesses, net for the year ended December 31, 2016 is $11.5 million and $112.3 million related to the sales of the metal sulfides business and the minerals-based flame retardants and specialty chemicals business, respectively, both of which closed in the first quarter of 2016. In addition, Gain on sales of businesses, net for the year ended December 31, 2016 includes a loss of $1.5 million on the sale of our wafer reclaim business. See Note 3, “Divestitures,” for additional information.
[3] See Note 21, “Restructuring and Other.”
[4] See Note 2, “Acquisitions,” for additional information.
[5] Included in Income (loss) from discontinued operations (net of tax) for the second quarter of 2016 is a nonrecurring, non-cash tax charge of $416.7 million related to the change in the Company’s assertion over book and tax basis differences for certain entities included in the sale of the Chemetall Surface Treatment business. In the fourth quarter of 2016, this non-cash tax charge was reversed as a result of the completion of the sale. In addition, the fourth quarter of 2016 includes an after-tax gain of $135.0 million as a result of the sale of the Chemetall Surface Treatment business.
[6] See Note 3, “Divestitures,” for additional information.
[7] 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 year ended December 31, 2015, $55.9 million was included in Cost of goods sold, and Equity in net income of unconsolidated investments was reduced by $27.1 million related to the utilization of the inventory markup.
[8] See Note 21, “Restructuring and Other,” for additional information.
[9] See Note 2, “Acquisitions,” for additional information.
[10] Includes amounts recorded in (1) Research and development expenses related to the write-off of fixed assets of $1.4 million; (2) Selling, general and administrative expenses related to the net loss on the sales of properties of $0.9 million and (3) Other income (expenses), net related to environmental charges related to a site formerly owned by Albemarle of $2.4 million, partially offset by a gain related to a previously disposed of site in China of $1.1 million.
[11] For the year ended December 31, 2015, Refining Solutions includes an impairment charge of approximately $2.0 million related to our unconsolidated investment in Fábrica Carioca de Catalisadores SA. For the years ended December 31, 2015 and 2014, Corporate includes approximately $4.4 million and $17.5 million, respectively, of financing-related fees expensed in connection with the acquisition of Rockwood.