Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share

NOTE 4—Earnings Per Share:

Basic and diluted earnings per share for the three-month and nine-month periods ended September 30, 2012 and 2011 are calculated as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2012		2011		2012		2011
	(In thousands, except per share amounts)
Basic earnings per share
Numerator:
Net income attributable to Albemarle Corporation	$	99,261	$	116,098	$	245,036	$	336,837
Denominator:
Weighted-average common shares for basic earnings per share		89,327		89,935		89,246		91,094
Basic earnings per share	$	1.11	$	1.29	$	2.75	$	3.70
Diluted earnings per share
Numerator:
Net income attributable to Albemarle Corporation	$	99,261	$	116,098	$	245,036	$	336,837
Denominator:
Weighted-average common shares for basic earnings per share		89,327		89,935		89,246		91,094
Incremental shares under stock compensation plans		552		1,023		713		996
Total shares		89,879		90,958		89,959		92,090
Diluted earnings per share	$	1.10	$	1.28	$	2.72	$	3.66

On February 15, 2012, the Company increased the regular quarterly dividend by 14% to $0.20 per share. On July 12, 2012, the Company declared a cash dividend of $0.20 per share, which was paid on October 1, 2012 to shareholders of record at the close of business as of September 14, 2012. On October 9, 2012, the Company declared a cash dividend of $0.20 per share, which is payable on January 1, 2013 to shareholders of record at the close of business as of December 14, 2012.

During the three-month period ended September 30, 2012, we repurchased 465,000 shares of our common stock for $26.8 million, and during the nine-month period ended September 30, 2012, we repurchased 680,000 shares of our common stock for $40.5 million, pursuant to the terms of our share repurchase program. As of September 30, 2012, there were 4,320,000 shares available for repurchase under our authorized share repurchase plan.