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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Net sales $ 687,596 $ 661,226 [1] $ 684,894 [2] $ 711,704 [3] $ 707,390 [4] $ 722,977 [5] $ 742,108 [6] $ 696,530 [7] $ 2,745,420 [8] $ 2,869,005 [8] $ 2,362,764 [8]
Cost of goods sold                 1,835,425 1,914,058 1,620,854
Gross profit 191,977 217,750 [1] 249,288 [2] 250,980 [3] 206,810 [4] 260,402 [5] 252,377 [6] 235,358 [7] 909,995 954,947 741,910
Selling, general and administrative expenses (Note 19)                 313,227 360,070 274,615
Research and development expenses                 78,919 77,083 58,394
Restructuring and other charges, net (Note 19) 16,982 [9]   94,703 [2],[9]           111,685 [9]   6,958 [9]
Operating profit                 406,164 517,794 401,943
Interest and financing expenses                 (32,800) (37,574) (25,533)
Other income, net                 1,229 357 2,788
Income before income taxes and equity in net income of unconsolidated investments                 374,593 480,577 379,198
Income tax expense                 82,533 104,134 87,756
Income before equity in net income of unconsolidated investments                 292,060 376,443 291,442
Equity in net income of unconsolidated investments (net of tax)                 38,067 43,754 37,975
Net income                 330,127 420,197 329,417
Net income attributable to noncontrolling interests                 (18,591) (28,083) (13,639)
Net income attributable to Albemarle Corporation $ 37,726 $ 109,459 [1] $ 50,089 [2] $ 114,262 [3] $ 45,548 [4] $ 120,662 [5] $ 114,843 [6] $ 111,061 [7] $ 311,536 $ 392,114 $ 315,778
Basic earnings per share $ 0.42 $ 1.23 [1] $ 0.56 [2] $ 1.28 [3] $ 0.51 [4] $ 1.34 [5] $ 1.25 [6] $ 1.21 [7] $ 3.49 $ 4.33 $ 3.46
Diluted earnings per share $ 0.42 $ 1.22 [1] $ 0.56 [2] $ 1.27 [3] $ 0.51 [4] $ 1.33 [5] $ 1.24 [6] $ 1.20 [7] $ 3.47 $ 4.28 $ 3.43
Weighted-average common shares outstanding-basic 89,018 89,327 [1] 89,414 [2] 88,997 [3] 88,805 [4] 89,935 [5] 91,713 [6] 91,633 [7] 89,189 90,522 91,393
Weighted-average common shares outstanding-diluted 89,660 89,879 [1] 90,051 [2] 89,947 [3] 89,819 [4] 90,958 [5] 92,795 [6] 92,517 [7] 89,884 91,522 92,184
Cash dividends declared per share of common stock                 $ 0.80 $ 0.67 $ 0.56
[1] As a result of our change in method of accounting relating to our global pension and OPEB plans in the fourth quarter of 2012, third quarter 2012 results were retrospectively adjusted resulting in increases to Gross profit of $3.0 million, Net income attributable to Albemarle Corporation of $10.2 million, Basic earnings per share of $0.12 and Diluted earnings per share of $0.12, and a decrease to Restructuring and other charges, net of $6.5 million.
[2] As a result of our change in method of accounting relating to our global pension and OPEB plans in the fourth quarter of 2012, second quarter 2012 results were retrospectively adjusted resulting in increases to Gross profit of $6.6 million, Net income attributable to Albemarle Corporation of $12.4 million, Basic earnings per share of $0.14 and Diluted earnings per share of $0.14.
[3] As a result of our change in method of accounting relating to our global pension and OPEB plans in the fourth quarter of 2012, first quarter 2012 results were retrospectively adjusted resulting in increases to Gross profit of $3.1 million, Net income attributable to Albemarle Corporation of $6.2 million, Basic earnings per share of $0.07 and Diluted earnings per share of $0.07.
[4] As a result of our change in method of accounting relating to our global pension and OPEB plans in the fourth quarter of 2012, fourth quarter 2011 results were retrospectively adjusted resulting in decreases to Gross profit of $27.3 million, Net income attributable to Albemarle Corporation of $53.9 million, Basic earnings per share of $0.61 and Diluted earnings per share of $0.60.
[5] As a result of our change in method of accounting relating to our global pension and OPEB plans in the fourth quarter of 2012, third quarter 2011 results were retrospectively adjusted resulting in increases to Gross profit of $2.4 million, Net income attributable to Albemarle Corporation of $4.6 million, Basic earnings per share of $0.05 and Diluted earnings per share of $0.05.
[6] As a result of our change in method of accounting relating to our global pension and OPEB plans in the fourth quarter of 2012, second quarter 2011 results were retrospectively adjusted resulting in increases to Gross profit of $0.4 million, Net income attributable to Albemarle Corporation of $0.7 million, Basic earnings per share of $0.01 and Diluted earnings per share of $0.01.
[7] As a result of our change in method of accounting relating to our global pension and OPEB plans in the fourth quarter of 2012, first quarter 2011 results were retrospectively adjusted resulting in increases to Gross profit of $2.3 million, Net income attributable to Albemarle Corporation of $4.5 million, Basic earnings per share of $0.05 and Diluted earnings per share of $0.05.
[8] No sales in a foreign country exceed 10% of total net sales. Also, net sales are attributed to countries based upon shipments to final destination.
[9] See Note 19, "Special Items."