Operating Segments

6 Months Ended

Jun. 30, 2013

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 June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
	(In thousands)
Net sales:
Polymer Solutions	$	224,316		$	247,016		$	439,090		$	475,147
Catalysts		233,818			229,144			469,391			522,666
Fine Chemistry		176,063			208,734			367,341			398,785
Total net sales	$	634,197		$	684,894		$	1,275,822		$	1,396,598
Segment operating profit:
Polymer Solutions	$	43,821		$	63,407		$	87,491		$	117,954
Catalysts		43,613			57,370			92,658			134,011
Fine Chemistry		40,277			49,704			76,455			94,067
Total segment operating profit		127,711			170,481			256,604			346,032
Equity in net income of unconsolidated investments:
Polymer Solutions		2,328			1,913			4,636			3,758
Catalysts		7,381			10,799			15,334			17,540
Fine Chemistry		—			—			—			—
Corporate & other		—			—			—			—
Total equity in net income of unconsolidated investments		9,709			12,712			19,970			21,298
Net (income) loss attributable to noncontrolling interests:
Polymer Solutions		(2,494	)		349			(3,202	)		(653	)
Catalysts		—			—			—			—
Fine Chemistry		(5,895	)		(3,832	)		(10,716	)		(7,204	)
Corporate & other		—			(23	)		—			(20	)
Total net income attributable to noncontrolling interests		(8,389	)		(3,506	)		(13,918	)		(7,877	)
Segment income:
Polymer Solutions		43,655			65,669			88,925			121,059
Catalysts		50,994			68,169			107,992			151,551
Fine Chemistry		34,382			45,872			65,739			86,863
Total segment income		129,031			179,710			262,656			359,473
Corporate & other		(15,537	)		(3,862	)		(29,543	)		(21,483	)
Restructuring and other charges, net(a)		—			(94,703	)		—			(94,703	)
Interest and financing expenses		(7,608	)		(8,486	)		(12,839	)		(17,220	)
Other expenses, net		(1,697	)		(688	)		(5,906	)		(806	)
Income tax expense		(21,450	)		(21,882	)		(47,642	)		(60,910	)
Net income attributable to Albemarle Corporation	$	82,739		$	50,089		$	166,726		$	164,351

(a) See Note 13, “Restructuring and Other.”