Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share:

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Basic earnings per share
Numerator:
Net income (loss) attributable to Albemarle Corporation	$	897,215	$	(392,781)	$	1,557,371	$	127,496
Denominator:
Weighted-average common shares for basic earnings per share	117,136		116,965		117,106		115,455
Basic earnings (loss) per share	$	7.66	$	(3.36)	$	13.30	$	1.10

Diluted earnings per share
Numerator:
Net income (loss) attributable to Albemarle Corporation	$	897,215	$	(392,781)	$	1,557,371	$	127,496
Denominator:
Weighted-average common shares for basic earnings per share	117,136		116,965		117,106		115,455
Incremental shares under stock compensation plans	733		—		643		685
Weighted-average common shares for diluted earnings per share	117,869		116,965		117,749		116,140
Diluted earnings (loss) per share	$	7.61	$	(3.36)	$	13.23	$	1.10

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 July 18, 2022, the Company declared a cash dividend of $0.395, an increase from the prior year regular quarterly dividend. This dividend was paid on October 3, 2022 to shareholders of record at the close of business as of September 16, 2022. On October 24, 2022, the Company declared a cash dividend of $0.395 per share, which is payable on January 3, 2023 to shareholders of record at the close of business as of December 16, 2022.