Albemarle Corporation and Subsidiaries | ||
Exhibit 99.1
Year Ended December 31, | |||||||||||||||
2013 | 2012 | 2011 | 2010 | ||||||||||||
(In thousands) | |||||||||||||||
Net sales: | |||||||||||||||
Performance Chemicals | $ | 1,430,652 | $ | 1,506,960 | $ | 1,586,246 | $ | 1,324,379 | |||||||
Catalyst Solutions | 1,185,764 | 1,238,460 | 1,282,759 | 1,038,385 | |||||||||||
Total net sales | $ | 2,616,416 | $ | 2,745,420 | $ | 2,869,005 | $ | 2,362,764 | |||||||
Segment operating profit: | |||||||||||||||
Performance Chemicals | $ | 324,602 | $ | 405,764 | $ | 435,478 | $ | 294,861 | |||||||
Catalyst Solutions | 210,229 | 241,624 | 267,147 | 212,899 | |||||||||||
Total segment operating profit | 534,831 | 647,388 | 702,625 | 507,760 | |||||||||||
Equity in net income of unconsolidated investments: | |||||||||||||||
Performance Chemicals | 8,875 | 6,416 | 7,696 | 8,734 | |||||||||||
Catalyst Solutions | 22,854 | 31,651 | 36,259 | 29,648 | |||||||||||
Corporate & other | — | — | (201 | ) | (407 | ) | |||||||||
Total equity in net income of unconsolidated investments | 31,729 | 38,067 | 43,754 | 37,975 | |||||||||||
Net (income) loss attributable to noncontrolling interests: | |||||||||||||||
Performance Chemicals | (26,663 | ) | (18,571 | ) | (28,109 | ) | (13,511 | ) | |||||||
Corporate & other | — | (20 | ) | 26 | (128 | ) | |||||||||
Total net income attributable to noncontrolling interests | (26,663 | ) | (18,591 | ) | (28,083 | ) | (13,639 | ) | |||||||
Segment income: | |||||||||||||||
Performance Chemicals | 306,814 | 393,609 | 415,065 | 290,084 | |||||||||||
Catalyst Solutions | 233,083 | 273,275 | 303,406 | 242,547 | |||||||||||
Total segment income | 539,897 | 666,884 | 718,471 | 532,631 | |||||||||||
Corporate & other | 81,439 | (129,559 | ) | (185,006 | ) | (99,394 | ) | ||||||||
Restructuring and other charges | (33,361 | ) | (111,685 | ) | — | (6,958 | ) | ||||||||
Interest and financing expenses | (31,559 | ) | (32,800 | ) | (37,574 | ) | (25,533 | ) | |||||||
Other (expenses) income, net | (6,923 | ) | 1,229 | 357 | 2,788 | ||||||||||
Income tax expense | (136,322 | ) | (82,533 | ) | (104,134 | ) | (87,756 | ) | |||||||
Net income attributable to Albemarle Corporation | $ | 413,171 | $ | 311,536 | $ | 392,114 | $ | 315,778 |
Year Ended December 31, | |||||||||||||||
2013 | 2012 | 2011 | 2010 | ||||||||||||
(In thousands) | |||||||||||||||
Net sales - Performance Chemicals: | |||||||||||||||
Fire Safety Solutions | $ | 620,972 | $ | 665,293 | $ | 780,541 | $ | 688,801 | |||||||
Specialty Chemicals | 520,998 | 519,606 | 515,511 | 427,610 | |||||||||||
Fine Chemistry Services | 288,682 | 322,061 | 290,194 | 207,968 | |||||||||||
Total Performance Chemicals | $ | 1,430,652 | $ | 1,506,960 | $ | 1,586,246 | $ | 1,324,379 | |||||||
Net sales - Catalyst Solutions: | |||||||||||||||
Refinery Catalyst Solutions | $ | 768,837 | $ | 794,933 | $ | 851,482 | $ | 668,591 | |||||||
Performance Catalyst Solutions | 232,769 | 273,015 | 265,381 | 221,416 | |||||||||||
Antioxidants | 184,158 | 170,512 | 165,896 | 148,378 | |||||||||||
Total Catalyst Solutions | $ | 1,185,764 | $ | 1,238,460 | $ | 1,282,759 | $ | 1,038,385 |
Albemarle Corporation and Subsidiaries | ||
2013 | 2012 | ||||||||||||||||||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||
Net sales: | |||||||||||||||||||||||||||||||
Performance Chemicals | $ | 361,941 | $ | 355,168 | $ | 373,329 | $ | 340,214 | $ | 378,243 | $ | 411,890 | $ | 366,196 | $ | 350,631 | |||||||||||||||
Catalyst Solutions | 279,684 | 279,029 | 275,309 | 351,742 | 333,461 | 273,004 | 295,030 | 336,965 | |||||||||||||||||||||||
Total net sales | $ | 641,625 | $ | 634,197 | $ | 648,638 | $ | 691,956 | $ | 711,704 | $ | 684,894 | $ | 661,226 | $ | 687,596 | |||||||||||||||
Segment operating profit: | |||||||||||||||||||||||||||||||
Performance Chemicals | $ | 82,933 | $ | 88,145 | $ | 88,075 | $ | 65,449 | $ | 104,534 | $ | 118,857 | $ | 99,515 | $ | 82,858 | |||||||||||||||
Catalyst Solutions | 47,175 | 40,614 | 51,499 | 70,941 | 72,674 | 53,133 | 49,745 | 66,072 | |||||||||||||||||||||||
Total segment operating profit | 130,108 | 128,759 | 139,574 | 136,390 | 177,208 | 171,990 | 149,260 | 148,930 | |||||||||||||||||||||||
Equity in net income of unconsolidated investments: | |||||||||||||||||||||||||||||||
Performance Chemicals | 2,308 | 2,328 | 1,735 | 2,504 | 1,845 | 1,913 | 1,199 | 1,459 | |||||||||||||||||||||||
Catalyst Solutions | 7,953 | 7,381 | 3,603 | 3,917 | 6,741 | 10,799 | 6,736 | 7,375 | |||||||||||||||||||||||
Total equity in net income of unconsolidated investments | 10,261 | 9,709 | 5,338 | 6,421 | 8,586 | 12,712 | 7,935 | 8,834 | |||||||||||||||||||||||
Net (income) loss attributable to noncontrolling interests: | |||||||||||||||||||||||||||||||
Performance Chemicals | (5,529 | ) | (8,389 | ) | (7,332 | ) | (5,413 | ) | (4,374 | ) | (3,483 | ) | (4,975 | ) | (5,739 | ) | |||||||||||||||
Corporate & other | — | — | — | — | 3 | (23 | ) | — | — | ||||||||||||||||||||||
Total net income attributable to noncontrolling interests | (5,529 | ) | (8,389 | ) | (7,332 | ) | (5,413 | ) | (4,371 | ) | (3,506 | ) | (4,975 | ) | (5,739 | ) | |||||||||||||||
Segment income: | |||||||||||||||||||||||||||||||
Performance Chemicals | 79,712 | 82,084 | 82,478 | 62,540 | 102,005 | 117,287 | 95,739 | 78,578 | |||||||||||||||||||||||
Catalyst Solutions | 55,128 | 47,995 | 55,102 | 74,858 | 79,415 | 63,932 | 56,481 | 73,447 | |||||||||||||||||||||||
Total segment income | 134,840 | 130,079 | 137,580 | 137,398 | 181,420 | 181,219 | 152,220 | 152,025 | |||||||||||||||||||||||
Corporate & other | (15,221 | ) | (16,585 | ) | (9,909 | ) | 123,154 | (19,278 | ) | (5,371 | ) | (4,745 | ) | (100,165 | ) | ||||||||||||||||
Restructuring and other charges | — | — | — | (33,361 | ) | — | (94,703 | ) | — | (16,982 | ) | ||||||||||||||||||||
Interest and financing expenses | (5,231 | ) | (7,608 | ) | (9,496 | ) | (9,224 | ) | (8,734 | ) | (8,486 | ) | (7,914 | ) | (7,666 | ) | |||||||||||||||
Other (expenses) income, net | (4,209 | ) | (1,697 | ) | (389 | ) | (628 | ) | (118 | ) | (688 | ) | 2,370 | (335 | ) | ||||||||||||||||
Income tax (expense) benefit | (26,192 | ) | (21,450 | ) | (27,274 | ) | (61,406 | ) | (39,028 | ) | (21,882 | ) | (32,472 | ) | 10,849 | ||||||||||||||||
Net income attributable to Albemarle Corporation | $ | 83,987 | $ | 82,739 | $ | 90,512 | $ | 155,933 | $ | 114,262 | $ | 50,089 | $ | 109,459 | $ | 37,726 |