Earnings Per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share:

Basic and diluted earnings per share for the three-month periods ended March 31, 2024 and 2023 are calculated as follows (in thousands, except per share amounts):


	Three Months Ended March 31,
		2024		2023
Basic (loss) earnings per share
Numerator:
Net income attributable to Albemarle Corporation		$	2,448	$	1,238,580
Mandatory convertible preferred stock dividends		(11,584)		—
Net (loss) income attributable to Albemarle Corporation common shareholders		$	(9,136)	$	1,238,580
Denominator:
Weighted-average common shares for basic (loss) earnings per share		117,451		117,232
Basic (loss) earnings per share		$	(0.08)	$	10.57

Diluted (loss) earnings per share
Numerator:
Net income attributable to Albemarle Corporation		$	2,448	$	1,238,580
Mandatory convertible preferred stock dividends		(11,584)		—
Net (loss) income attributable to Albemarle Corporation common shareholders		$	(9,136)	$	1,238,580
Denominator:
Weighted-average common shares for basic (loss) earnings per share		117,451		117,232

Incremental shares under stock compensation plans		—		609
Weighted-average common shares for diluted (loss) earnings per share		117,451		117,841
Diluted (loss) earnings per share		$	(0.08)	$	10.51

For the three-month period ended March 31, 2024, calculated on a weighted average basis, there were 6,270,968 shares assuming the conversion of the mandatory convertible preferred stock and 216,568 shares under the stock compensation plans not included in the computation of diluted earnings per share because their effect would have been anti-dilutive as the Company reported a net loss attributable to common shareholders for the period.