Earnings Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share:

Basic and diluted earnings per share for the three-month and nine-month periods ended September 30, 2023 and 2022 are calculated as follows (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Basic earnings per share
Numerator:
Net income attributable to Albemarle Corporation	$	302,533	$	897,215	$	2,191,156	$	1,557,371
Denominator:
Weighted-average common shares for basic earnings per share	117,349		117,136		117,304		117,106
Basic earnings per share	$	2.58	$	7.66	$	18.68	$	13.30

Diluted earnings per share
Numerator:
Net income attributable to Albemarle Corporation	$	302,533	$	897,215	$	2,191,156	$	1,557,371
Denominator:
Weighted-average common shares for basic earnings per share	117,349		117,136		117,304		117,106
Incremental shares under stock compensation plans	434		733		493		643
Weighted-average common shares for diluted earnings per share	117,783		117,869		117,797		117,749
Diluted earnings per share	$	2.57	$	7.61	$	18.60	$	13.23

At September 30, 2023 there were 103,916 common stock equivalents not included in the computation of diluted earnings per share because their effect would have been anti-dilutive.

On July 18, 2023, the Company declared a cash dividend of $0.40, an increase from the prior year regular quarterly dividend. This dividend was paid on October 2, 2023 to shareholders of record at the close of business as of September 15, 2023. On October 23, 2023, the Company declared a cash dividend of $0.40 per share, which is payable on January 2, 2024 to shareholders of record at the close of business as of December 15, 2023.