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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]      
Net sales $ 3,589,427 $ 3,374,950 $ 3,071,976
Cost of goods sold 2,331,649 2,157,694 1,965,700
Gross profit 1,257,778 1,217,256 1,106,276
Selling, general and administrative expenses 533,368 446,090 450,286
Research and development expenses 58,287 70,054 84,330
Gain on sale of business 0 (210,428) 0
Operating profit 666,123 911,540 571,660
Interest and financing expenses (57,695) (52,405) (115,350)
Other expenses, net (45,478) (64,434) (9,512)
Income before income taxes and equity in net income of unconsolidated investments 562,950 794,701 446,798
Income tax expense 88,161 144,826 431,817
Income before equity in net income of unconsolidated investments 474,789 649,875 14,981
Equity in net income of unconsolidated investments (net of tax) 129,568 89,264 84,487
Net income 604,357 739,139 99,468
Net income attributable to noncontrolling interests (71,129) (45,577) (44,618)
Net income attributable to Albemarle Corporation $ 533,228 $ 693,562 $ 54,850
Basic earnings per share (in dollars per share) $ 5.03 $ 6.40 $ 0.49
Diluted earnings per share (in dollars per share) $ 5.02 $ 6.34 $ 0.49
Weighted-average common shares outstanding—basic (in shares) 105,949 108,427 110,914
Weighted-average common shares outstanding—diluted (in shares) 106,321 109,458 112,380