Earnings Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share:

Basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2022 and 2021 are calculated as follows (in thousands, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Basic earnings per share
Numerator:
Net income attributable to Albemarle Corporation	$	406,773	$	424,600	$	660,156	$	520,277
Denominator:
Weighted-average common shares for basic earnings per share	117,116		116,809		117,091		114,700
Basic earnings per share	$	3.47	$	3.63	$	5.64	$	4.54

Diluted earnings per share
Numerator:
Net income attributable to Albemarle Corporation	$	406,773	$	424,600	$	660,156	$	520,277
Denominator:
Weighted-average common shares for basic earnings per share	117,116		116,809		117,091		114,700
Incremental shares under stock compensation plans	608		627		598		683
Weighted-average common shares for diluted earnings per share	117,724		117,436		117,689		115,383
Diluted earnings per share	$	3.46	$	3.62	$	5.61	$	4.51

On February 8, 2021, we completed an underwritten public offering of 8,496,773 shares of our common stock, par value $0.01 per share, at a price to the public of $153.00 per share. The Company also granted to the underwriters an option to purchase up to an additional 1,274,509 shares, which was exercised. The total gross proceeds from this offering were approximately $1.5 billion, before deducting expenses, underwriting discounts and commissions. The net proceeds were used for debt repayments and general corporate purposes.

On May 3, 2022, the Company declared a cash dividend of $0.395, an increase from the prior year regular quarterly dividend. This dividend was paid on July 1, 2022 to shareholders of record at the close of business as of June 10, 2022. On July 18, 2022, the Company declared a cash dividend of $0.395 per share, which is payable on October 3, 2022 to shareholders of record at the close of business as of September 16, 2022.