Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Consolidated Balance Sheets

Consolidated Balance Sheets

December 31, 2012 (In Thousands)	Previous Method			Effect of Accounting Change			As Adjusted
Accumulated other comprehensive (loss) income	$	(218,200	)	$	303,464		$	85,264
Retained earnings		2,048,148			(303,464	)		1,744,684

December 31, 2011 (In Thousands)	As Previously Reported			Effect of Accounting Change			As Adjusted
Accumulated other comprehensive (loss) income	$	(222,922	)	$	283,251		$	60,329
Retained earnings		1,798,117			(283,251	)		1,514,866

Consolidated Statements of Income

Consolidated Statements of Income

Year Ended December 31, 2012 (In Thousands, Except Per Share Amounts)	Previous Method			Effect of Accounting Change			As Adjusted
Net sales	$	2,745,420		$	—		$	2,745,420
Cost of goods sold		1,822,261			13,164			1,835,425
Gross profit		923,159			(13,164	)		909,995
Selling, general and administrative expenses		288,367			24,860			313,227
Research and development expenses		78,919			—			78,919
Restructuring and other charges, net		118,193			(6,508	)		111,685
Operating profit		437,680			(31,516	)		406,164
Interest and financing expenses		(32,800	)		—			(32,800	)
Other income, net		1,229			—			1,229
Income before income taxes and equity in net income of unconsolidated investments		406,109			(31,516	)		374,593
Income tax expense		93,836			(11,303	)		82,533
Income before equity in net income of unconsolidated investments		312,273			(20,213	)		292,060
Equity in net income of unconsolidated investments (net of tax)		38,067			—			38,067
Net income	$	350,340		$	(20,213	)	$	330,127
Net income attributable to noncontrolling interests		(18,591	)		—			(18,591	)
Net income attributable to Albemarle Corporation	$	331,749		$	(20,213	)	$	311,536
Basic earnings per share	$	3.72		$	(0.23	)	$	3.49
Diluted earnings per share	$	3.69		$	(0.22	)	$	3.47
Weighted-average common shares outstanding—basic		89,189			—			89,189
Weighted-average common shares outstanding—diluted		89,884			—			89,884
Cash dividends declared per share of common stock	$	0.80		$	—		$	0.80

Year Ended December 31, 2011 (In Thousands, Except Per Share Amounts)	As Previously Reported			Effect of Accounting Change			As Adjusted
Net sales	$	2,869,005		$	—		$	2,869,005
Cost of goods sold		1,891,946			22,112			1,914,058
Gross profit		977,059			(22,112	)		954,947
Selling, general and administrative expenses		312,136			47,934			360,070
Research and development expenses		77,083			—			77,083
Operating profit		587,840			(70,046	)		517,794
Interest and financing expenses		(37,574	)		—			(37,574	)
Other income, net		357			—			357
Income before income taxes and equity in net income of unconsolidated investments		550,623			(70,046	)		480,577
Income tax expense		130,014			(25,880	)		104,134
Income before equity in net income of unconsolidated investments		420,609			(44,166	)		376,443
Equity in net income of unconsolidated investments (net of tax)		43,754			—			43,754
Net income	$	464,363		$	(44,166	)	$	420,197
Net income attributable to noncontrolling interests		(28,083	)		—			(28,083	)
Net income attributable to Albemarle Corporation	$	436,280		$	(44,166	)	$	392,114
Basic earnings per share	$	4.82		$	(0.49	)	$	4.33
Diluted earnings per share	$	4.77		$	(0.49	)	$	4.28
Weighted-average common shares outstanding—basic		90,522			—			90,522
Weighted-average common shares outstanding—diluted		91,522			—			91,522
Cash dividends declared per share of common stock	$	0.67		$	—		$	0.67

Year Ended December 31, 2010 (In Thousands, Except Per Share Amounts)	As Previously Reported			Effect of Accounting Change			As Adjusted
Net sales	$	2,362,764		$	—		$	2,362,764
Cost of goods sold		1,616,842			4,012			1,620,854
Gross profit		745,922			(4,012	)		741,910
Selling, general and administrative expenses		265,722			8,893			274,615
Research and development expenses		58,394			—			58,394
Restructuring and other charges, net		6,958			—			6,958
Operating profit		414,848			(12,905	)		401,943
Interest and financing expenses		(25,533	)		—			(25,533	)
Other income, net		2,788			—			2,788
Income before income taxes and equity in net income of unconsolidated investments		392,103			(12,905	)		379,198
Income tax expense		92,719			(4,963	)		87,756
Income before equity in net income of unconsolidated investments		299,384			(7,942	)		291,442
Equity in net income of unconsolidated investments (net of tax)		37,975			—			37,975
Net income	$	337,359		$	(7,942	)	$	329,417
Net income attributable to noncontrolling interests		(13,639	)		—			(13,639	)
Net income attributable to Albemarle Corporation	$	323,720		$	(7,942	)	$	315,778
Basic earnings per share	$	3.54		$	(0.08	)	$	3.46
Diluted earnings per share	$	3.51		$	(0.08	)	$	3.43
Weighted-average common shares outstanding—basic		91,393			—			91,393
Weighted-average common shares outstanding—diluted		92,184			—			92,184
Cash dividends declared per share of common stock	$	0.56		$	—		$	0.56

Consolidated Statements of Comprehensive Income

Consolidated Statements of Comprehensive Income

Year Ended December 31, 2012 (In Thousands)	Previous Method			Effect of Accounting Change			As Adjusted
Net income	$	350,340		$	(20,213	)	$	330,127
Other comprehensive income (loss), net of tax:
Foreign currency translation		28,769			—			28,769
Pension and postretirement benefits		(24,284	)		20,213			(4,071	)
Other		134			—			134
Total other comprehensive income, net of tax		4,619			20,213			24,832
Comprehensive income		354,959			—			354,959
Comprehensive income attributable to non-controlling interests		(18,488	)		—			(18,488	)
Comprehensive income attributable to Albemarle Corporation	$	336,471		$	—		$	336,471

Year Ended December 31, 2011 (In Thousands)	Previous Method			Effect of Accounting Change			As Adjusted
Net income	$	464,363		$	(44,166	)	$	420,197
Other comprehensive income (loss), net of tax:
Foreign currency translation		(13,565	)		—			(13,565	)
Pension and postretirement benefits		(45,528	)		44,166			(1,362	)
Other		162			—			162
Total other comprehensive loss, net of tax		(58,931	)		44,166			(14,765	)
Comprehensive income		405,432			—			405,432
Comprehensive income attributable to non-controlling interests		(27,878	)		—			(27,878	)
Comprehensive income attributable to Albemarle Corporation	$	377,554		$	—		$	377,554

Year Ended December 31, 2010 (In Thousands)	Previous Method			Effect of Accounting Change			As Adjusted
Net income	$	337,359		$	(7,942	)	$	329,417
Other comprehensive income (loss), net of tax:
Foreign currency translation		(62,629	)		—			(62,629	)
Pension and postretirement benefits		(9,812	)		7,942			(1,870	)
Other		105			—			105
Total other comprehensive loss, net of tax		(72,336	)		7,942			(64,394	)
Comprehensive income		265,023			—			265,023
Comprehensive income attributable to non-controlling interests		(13,639	)		—			(13,639	)
Comprehensive income attributable to Albemarle Corporation	$	251,384		$	—		$	251,384

Consolidated Statements of Changes In Equity

Consolidated Statements of Changes In Equity

Year Ended December 31, 2012 (In Thousands)	Previous Method			Effect of Accounting Change			As Adjusted
Accumulated other comprehensive (loss) income:
Balance at January 1, 2012	$	(222,922	)	$	283,251		$	60,329
Other comprehensive income		4,722			20,213			24,935
Balance at December 31, 2012	$	(218,200	)	$	303,464		$	85,264
Retained earnings:
Balance at January 1, 2012	$	1,798,117		$	(283,251	)	$	1,514,866
Net income for 2012		331,749			(20,213	)		311,536
Cash dividends declared for 2012		(71,347	)		—			(71,347	)
Shares repurchased		(10,371	)		—			(10,371	)
Balance at December 31, 2012	$	2,048,148		$	(303,464	)	$	1,744,684

Year Ended December 31, 2011 (In Thousands)	As Previously Reported			Effect of Accounting Change			As Adjusted
Accumulated other comprehensive (loss) income:
Balance at January 1, 2011	$	(164,196	)	$	239,085		$	74,889
Other comprehensive loss		(58,726	)		44,166			(14,560	)
Balance at December 31, 2011	$	(222,922	)	$	283,251		$	60,329
Retained earnings:
Balance at January 1, 2011	$	1,560,519		$	(239,085	)	$	1,321,434
Net income for 2011		436,280			(44,166	)		392,114
Cash dividends declared for 2011		(60,450	)		—			(60,450	)
Shares repurchased		(138,232	)		—			(138,232	)
Balance at December 31, 2011	$	1,798,117		$	(283,251	)	$	1,514,866

Year Ended December 31, 2010 (In Thousands)	As Previously Reported			Effect of Accounting Change			As Adjusted
Accumulated other comprehensive (loss) income:
Balance at January 1, 2010	$	(91,860	)	$	231,143		$	139,283
Other comprehensive loss		(72,336	)		7,942			(64,394	)
Balance at December 31, 2010	$	(164,196	)	$	239,085		$	74,889
Retained earnings:
Balance at January 1, 2010	$	1,287,983		$	(231,143	)	$	1,056,840
Net income for 2010		323,720			(7,942	)		315,778
Cash dividends declared for 2010		(51,184	)		—			(51,184	)
Balance at December 31, 2010	$	1,560,519		$	(239,085	)	$	1,321,434

Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

Year Ended December 31, 2012 (In Thousands)	Previous Method			Effect of Accounting Change			As Adjusted
Cash flows from operating activities:
Net income	$	350,340		$	(20,213	)	$	330,127
Non-cash charges associated with restructuring and other, net		68,317			(6,508	)		61,809
Pension and postretirement expense		39,418			38,024			77,442
Deferred income taxes		(3,284	)		(11,303	)		(14,587	)

Year Ended December 31, 2011 (In Thousands)	As Previously Reported		Effect of Accounting Change			As Adjusted
Cash flows from operating activities:
Net income	$	464,363	$	(44,166	)	$	420,197
Pension and postretirement expense		27,161		70,046			97,207
Deferred income taxes		14,682		(25,880	)		(11,198	)

Year Ended December 31, 2010 (In Thousands)	As Previously Reported		Effect of Accounting Change			As Adjusted
Cash flows from operating activities:
Net income	$	337,359	$	(7,942	)	$	329,417
Pension and postretirement expense		20,993		12,905			33,898
Deferred income taxes		47,099		(4,963	)		42,136