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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Reportable Segments Summarized Financial Information
Segment information for the three-month and six-month periods ended June 30, 2024 and 2023 were as follows (in thousands).
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Net sales:
Energy Storage$830,110 $1,763,065 $1,631,008 $3,706,747 
Specialties334,600 371,302 650,665 790,080 
Ketjen265,675 235,823 509,448 453,615 
Total net sales$1,430,385 $2,370,190 $2,791,121 $4,950,442 
Adjusted EBITDA:
Energy Storage$282,979 $1,165,080 $480,975 $2,732,772 
Specialties54,175 60,200 99,356 222,358 
Ketjen37,836 42,882 59,815 57,425 
Total segment adjusted EBITDA$374,990 $1,268,162 $640,146 $3,012,555 
Depreciation and amortization:
Energy Storage$100,433 $56,540 $187,707 $108,702 
Specialties23,170 21,299 45,607 41,191 
Ketjen12,937 13,084 25,294 26,227 
Total segment depreciation and amortization136,540 90,923 258,608 176,120 
Corporate1,739 2,162 3,422 4,236 
Total depreciation and amortization$138,279 $93,085 $262,030 $180,356 
See below for a reconciliation of total segment adjusted EBITDA to the Company’s consolidated Net (loss) income attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with U.S. GAAP (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Total segment adjusted EBITDA$374,990 $1,268,162 $640,146 $3,012,555 
Corporate expenses, net11,370 (1,920)37,450 15,391 
Depreciation and amortization(138,279)(93,085)(262,030)(180,356)
Interest and financing expenses(35,187)(25,577)(73,156)(52,354)
Income tax benefit (expense)30,660 (42,987)34,381 (319,950)
Proportionate share of Windfield income tax expense(a)
(119,780)(233,976)(193,469)(399,961)
Acquisition and integration related costs(b)
(1,581)(6,502)(3,488)(11,610)
Restructuring and other charges(c)
(2,525)(7,439)(18,861)(7,439)
Capital project assets write-off(c)
(294,940)— (314,889)— 
Non-operating pension and OPEB items337 (612)662 (1,213)
(Loss) gain in fair value of public equity securities(d)
(17,780)15,020 (60,939)60,846 
Legal accrual(e)
— (218,510)— (218,510)
Other(f)
4,517 (2,531)28,443 (8,776)
Net (loss) income attributable to Albemarle Corporation$(188,198)$650,043 $(185,750)$1,888,623 
(a)Albemarle’s 49% ownership interest in the reported income tax expense of the Windfield joint venture.
(b)Costs related to the acquisition, integration and potential divestitures for various significant projects, recorded in SG&A.
(c)See Note 8, “Restructuring and Capital Project Assets Write-off,” for further details.
(d)Loss of $17.8 million and $27.2 million recorded in Other income, net for the three and six months ended June 30, 2024, respectively, resulting from the net change in fair value of investments in public equity securities and a loss of $33.7 million recorded in Other income, net for the six months ended June 30, 2024 resulting from the sale of investments in public equity securities. Gain of $15.0 million and $60.8 million recorded in Other income, net for the three and six months ended June 30, 2023, respectively, resulting from the net change in fair value of investments in public equity securities.
(e)Accrual recorded in SG&A representing for the agreements in principle to resolve a previously disclosed legal matter with the DOJ and SEC. This matter was settled in the third quarter of 2023.
(f)Included amounts for the three months ended June 30, 2024 recorded in:
•SG&A - $5.1 million of expenses related to certain historical legal and environmental matters.
•Other income, net - $8.9 million of income from PIK dividends of preferred equity in a Grace subsidiary and a $0.6 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations.
Included amounts for the three months ended June 30, 2023 recorded in:
•SG&A - $0.7 million of facility closure expenses related to offices in Germany and $0.6 million primarily related to shortfall contributions for a multiemployer plan financial improvement plan.
•Other income, net - $3.9 million of a loss resulting from the adjustment of indemnification related to previously disposed businesses, partially offset by a $2.7 million gain in the fair value of preferred equity of a Grace subsidiary.
Included amounts for the six months ended June 30, 2024 recorded in:
•Cost of goods sold - $1.4 million of expenses related to non-routine labor and compensation related costs that are outside normal compensation arrangements.
•SG&A - $5.2 million of expenses related to certain historical legal and environmental matters.
•Other income, net - $17.6 million of income from PIK dividends of preferred equity in a Grace subsidiary, a $17.3 million gain primarily from the sale of assets at a site not part of our operations, a $2.4 million gain primarily resulting from the adjustment of indemnification related to a previously disposed business and a $0.6 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations, partially offset by $2.9 million of charges for asset retirement obligations at a site not part of our operations.
Included amounts for the six months ended June 30, 2023 recorded in:
•SG&A - $1.9 million of charges primarily for environmental reserves at sites not part of our operations, $1.4 million of facility closure expenses related to offices in Germany and $0.6 million primarily related to shortfall contributions for a multiemployer plan financial improvement plan.
•Other income, net - $3.9 million of a loss resulting from the adjustment of indemnification related to previously disposed businesses and $3.6 million of charges for asset retirement obligations at a site not part of our operations, partially offset by a $2.7 million gain in the fair value of preferred equity of a Grace subsidiary.