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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Net sales $ 684,894 $ 742,108 $ 1,396,598 $ 1,438,638
Cost of goods sold 442,209 490,159 906,026 953,673
Gross profit 242,685 251,949 490,572 484,965
Selling, general and administrative expenses (Note 13) 74,624 82,907 155,316 155,946
Research and development expenses 20,911 19,947 39,960 37,562
Restructuring and other charges 94,703 [1]   94,703 [1]  
Operating profit 52,447 149,095 200,593 291,457
Interest and financing expenses (8,486) (9,274) (17,220) (18,866)
Other expenses, net (688) (760) (806) (422)
Income before income taxes and equity in net income of unconsolidated investments 43,273 139,061 182,567 272,169
Income tax expense 14,747 30,154 50,213 62,326
Income before equity in net income of unconsolidated investments 28,526 108,907 132,354 209,843
Equity in net income of unconsolidated investments (net of tax) 12,712 14,787 21,298 27,618
Net income 41,238 123,694 153,652 237,461
Net income attributable to noncontrolling interests (3,506) (9,535) (7,877) (16,722)
Net income attributable to Albemarle Corporation $ 37,732 $ 114,159 $ 145,775 $ 220,739
Basic earnings per share $ 0.42 $ 1.24 $ 1.63 $ 2.41
Diluted earnings per share $ 0.42 $ 1.23 $ 1.62 $ 2.38
Weighted-average common shares outstanding - basic 89,414 91,713 89,206 91,673
Weighted-average common shares outstanding - diluted 90,051 92,795 89,999 92,656
Cash dividends declared per share of common stock $ 0.200 $ 0.165 $ 0.400 $ 0.330
[1] The three-month and six-month periods ended June 30, 2012 include charges amounting to $94,703 ($73,590 after income taxes) in connection with our exit of the phosphorous flame retardants business.