Quarterly Financial Summary (Unaudited):



	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	(In thousands, except per share amounts)
2018
Net sales	$	821,629		$	853,874		$	777,748		$	921,699
Gross profit	$	304,979		$	311,356		$	280,537		$	320,384
(Gain) loss on sales of businesses, net^(a)	$	—		$	(218,705	)	$	—		$	8,277
Net income	$	138,925		$	310,686		$	143,479		$	146,049
Net income attributable to noncontrolling interests	(7,165		)	(8,225		)	(13,734		)	(16,453		)
Net income attributable to Albemarle Corporation	$	131,760		$	302,461		$	129,745		$	129,596
Basic earnings per share	$	1.19		$	2.76		$	1.21		$	1.22
Shares used to compute basic earnings per share	110,681			109,671			107,315			106,042
Diluted earnings per share	$	1.18		$	2.73		$	1.20		$	1.21
Shares used to compute diluted earnings per share	111,867			110,659			108,302			107,005



	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	(In thousands, except per share amounts)
2017
Net sales	$	722,063		$	737,258		$	754,866		$	857,789
Gross profit	$	254,956		$	271,960		$	275,657		$	303,703
Net income (loss)	$	62,657		$	113,689		$	130,193		$	(207,071	)
Net income attributable to noncontrolling interests	(11,444		)	(10,356		)	(11,523		)	(11,295		)
Net income (loss) attributable to Albemarle Corporation	$	51,213		$	103,333		$	118,670		$	(218,366	)
Basic earnings (loss) per share	$	0.46		$	0.93		$	1.07		$	(1.98	)
Shares used to compute basic earnings per share	111,986			110,686			110,476			110,510
Diluted earnings (loss) per share	$	0.45		$	0.92		$	1.06		$	(1.95	)
Shares used to compute diluted earnings per share	113,289			112,105			111,975			112,152


(a)	Represents the gain (loss) on the Polyolefin Catalysts Divestiture. See Note 3, “Divestitures,” for additional information.

As discussed in Note 1, “Summary of Significant Accounting Policies,” actuarial gains and losses related to our defined benefit pension and OPEB plan obligations are recognized annually in our consolidated statements of income in the fourth quarter and whenever a plan is determined to qualify for a remeasurement during a fiscal year. During the year ended December 31, 2018, actuarial losses were recognized as follows: fourth quarter—$14.0 million ($10.6 million after income taxes) as a result of the annual remeasurement process. During the year ended December 31, 2017, actuarial gains were recognized as follows: fourth quarter—$11.4 million ($7.3 million after income taxes) as a result of the annual remeasurement process.