Operating Segments

9 Months Ended

Sep. 30, 2011

Operating Segments

Operating Segments

NOTE 9—Operating Segments:

Segment income represents operating profit (adjusted for significant non-recurring items) and equity in net income of unconsolidated investments and is reduced by net income attributable to noncontrolling interests. Segment data includes intersegment transfers of raw materials at cost and allocations for certain corporate costs.

Summarized financial information concerning our reportable segments is shown in the following table. Corporate & other includes corporate-related items not allocated to the reportable segments.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2011			2010			2011			2010
	(In thousands)
Net sales:
Polymer Solutions	$	243,931		$	231,847		$	792,604		$	683,789
Catalysts		299,531			214,785			827,339			658,438
Fine Chemistry		179,515			138,404			541,672			415,562
Total net sales	$	722,977		$	585,036		$	2,161,615		$	1,757,789
Segment operating profit:
Polymer Solutions	$	55,219		$	58,699		$	203,900		$	145,193
Catalysts		93,682			61,721			209,251			167,056
Fine Chemistry		34,793			17,799			111,387			50,251
Total segment operating profit		183,694			138,219			524,538			362,500
Equity in net income of unconsolidated investments:
Polymer Solutions		1,357			2,040			6,496			6,859
Catalysts		8,170			7,166			30,796			23,173
Fine Chemistry		—			—			—			—
Corporate & Other		(27	)		(27	)		(174	)		(82	)
Total equity in net income of unconsolidated investments		9,500			9,179			37,118			29,950
Net income attributable to noncontrolling interests:
Polymer Solutions		(2,021	)		(2,235	)		(9,200	)		(4,749	)
Catalysts		—			—			—			—
Fine Chemistry		(4,789	)		(1,291	)		(14,439	)		(4,443	)
Corporate & Other		(50	)		195			57			(80	)
Total net income attributable to noncontrolling interests		(6,860	)		(3,331	)		(23,582	)		(9,272	)
Segment income:
Polymer Solutions		54,555			58,504			201,196			147,303
Catalysts		101,852			68,887			240,047			190,229
Fine Chemistry		30,004			16,508			96,948			45,808
Total segment income		186,411			143,899			538,191			383,340
Corporate & other		(23,462	)		(17,488	)		(72,889	)		(52,242	)
Restructuring and other charges(1)		—			—			—			(6,958	)
Interest and financing expenses		(9,710	)		(6,139	)		(28,576	)		(18,059	)
Other income, net		956			1,303			534			1,584
Income tax expense		(38,097	)		(27,886	)		(100,423	)		(68,917	)
Net income attributable to Albemarle Corporation	$	116,098		$	93,689		$	336,837		$	238,748

(1) The nine-month period ended September 30, 2010 included charges amounting to $6,958 ($4,593 after income taxes) associated with restructuring costs related to reductions in force at our Bergheim, Germany site.