Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Earning Per Share

Basic and diluted (loss) earnings per share for the three-month and nine-month periods ended September 30, 2024 and 2023 are calculated as follows (in thousands, except per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Basic (loss) earnings per share
Numerator:
Net (loss) income attributable to Albemarle Corporation	$	(1,068,992)	$	302,533	$	(1,254,742)	$	2,191,156
Mandatory convertible preferred stock dividends	(41,687)		—		(94,959)		—
Net (loss) income attributable to Albemarle Corporation common shareholders	$	(1,110,679)	$	302,533	$	(1,349,701)	$	2,191,156
Denominator:
Weighted-average common shares for basic (loss) earnings per share	117,535		117,349		117,505		117,304
Basic (loss) earnings per share	$	(9.45)	$	2.58	$	(11.49)	$	18.68
Diluted (loss) earnings per share
Numerator:
Net (loss) income attributable to Albemarle Corporation	$	(1,068,992)	$	302,533	$	(1,254,742)	$	2,191,156
Mandatory convertible preferred stock dividends	(41,687)		—		(94,959)		—
Net (loss) income attributable to Albemarle Corporation common shareholders	$	(1,110,679)	$	302,533	$	(1,349,701)	$	2,191,156
Denominator:
Weighted-average common shares for basic (loss) earnings per share	117,535		117,349		117,505		117,304
Incremental shares under stock compensation plans	—		434		—		493
Weighted-average common shares for diluted (loss) earnings per share	117,535		117,783		117,505		117,797
Diluted (loss) earnings per share	$	(9.45)	$	2.57	$	(11.49)	$	18.60

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table summarizes the number of shares, calculated on a weighted average basis, not included in the computation of diluted earnings per share because their effect would have been anti-dilutive (in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Shares assuming the conversion of the mandatory convertible preferred stock	21,022	—	15,568	—
Shares under the stock compensation plans	1,138	104	1,058	94