Albemarle (ALB) 10-Q 5 Aug 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	1-12658
Entity Registrant Name	ALBEMARLE CORPORATION
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	54-1692118
Entity Address, Address Line One	4250 Congress Street, Suite 900
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28209
City Area Code	(980)
Local Phone Number	299-5700
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	COMMON STOCK, $.01 Par Value
Trading Symbol	ALB
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		106,357,989
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000915913
Current Fiscal Year End Date	--12-31

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net sales	$ 764,049,000	$ 885,052,000	$ 1,502,894,000	$ 1,717,116,000
Cost of goods sold	530,690,000	559,138,000	1,027,517,000	1,107,716,000
Gross profit	233,359,000	325,914,000	475,377,000	609,400,000
Selling, general and administrative expenses	106,949,000	126,715,000	208,826,000	240,070,000
Research and development expenses	14,210,000	13,462,000	30,307,000	28,439,000
Operating profit	112,200,000	185,737,000	236,244,000	340,891,000
Interest and financing expenses	(17,852,000)	(11,601,000)	(34,737,000)	(24,187,000)
Other (expenses) income, net	(6,273,000)	(7,065,000)	2,041,000	4,226,000
Income before income taxes and equity in net income of unconsolidated investments	88,075,000	167,071,000	203,548,000	320,930,000
Income tax expense	15,431,000	30,411,000	33,873,000	67,925,000
Income before equity in net income of unconsolidated investments	72,644,000	136,660,000	169,675,000	253,005,000
Equity in net income of unconsolidated investments (net of tax)	31,114,000	38,310,000	57,718,000	73,491,000
Net income	103,758,000	174,970,000	227,393,000	326,496,000
Net income attributable to noncontrolling interests	(18,134,000)	(20,772,000)	(34,565,000)	(38,729,000)
Net income attributable to Albemarle Corporation	$ 85,624,000	$ 154,198,000	$ 192,828,000	$ 287,767,000
Basic earnings per share (in dollars per share)	$ 0.81	$ 1.46	$ 1.81	$ 2.72
Diluted earnings per share (in dollars per share)	$ 0.80	$ 1.45	$ 1.81	$ 2.71
Weighted-average common shares outstanding - basic (in shares)	106,329	105,961	106,278	105,880
Weighted-average common shares outstanding - diluted (in shares)	106,535	106,316	106,524	106,336

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 103,758	$ 174,970	$ 227,393	$ 326,496
Other comprehensive income (loss), net of tax:
Foreign currency translation	62,847	10,544	(19,139)	(311)
Pension and postretirement benefits	8	6	17	13
Net investment hedge	(5,756)	(3,037)	(3,675)	267
Cash flow hedge	37,645	0	(13,815)	0
Interest rate swap	648	641	1,296	1,282
Total other comprehensive income (loss), net of tax	95,392	8,154	(35,316)	1,251
Comprehensive income	199,150	183,124	192,077	327,747
Comprehensive income attributable to noncontrolling interests	(18,168)	(20,799)	(34,645)	(38,709)
Comprehensive income attributable to Albemarle Corporation	$ 180,982	$ 162,325	$ 157,432	$ 289,038

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 736,696	$ 613,110
Trade accounts receivable, less allowance for doubtful accounts (2020 – $2,563; 2019 – $3,711)	517,626	612,651
Other accounts receivable	76,957	67,551
Inventories	851,256	768,984
Other current assets	109,874	162,813
Total current assets	2,292,409	2,225,109
Property, plant and equipment, at cost	7,138,969	6,817,843
Less accumulated depreciation and amortization	2,002,612	1,908,370
Net property, plant and equipment	5,136,357	4,909,473
Investments	614,145	579,813
Other assets	213,223	213,061
Goodwill	1,571,280	1,578,785
Other intangibles, net of amortization	342,839	354,622
Total assets	10,170,253	9,860,863
Current liabilities:
Accounts payable	523,160	574,138
Accrued expenses	399,456	553,160
Current portion of long-term debt	406,201	187,336
Dividends payable	40,728	38,764
Current operating lease liability	21,808	23,137
Income taxes payable	29,450	32,461
Total current liabilities	1,420,803	1,408,996
Long-term debt	3,132,191	2,862,921
Postretirement benefits	50,362	50,899
Pension benefits	284,480	292,073
Other noncurrent liabilities	670,001	754,536
Deferred income taxes	406,255	397,858
Commitments and contingencies (Note 9)
Albemarle Corporation shareholders’ equity:
Common stock, $.01 par value, issued and outstanding – 106,337 in 2020 and 106,040 in 2019	1,064	1,061
Additional paid-in capital	1,400,105	1,383,446
Accumulated other comprehensive loss	(431,131)	(395,735)
Retained earnings	3,054,434	2,943,478
Total Albemarle Corporation shareholders’ equity	4,024,472	3,932,250
Noncontrolling interests	181,689	161,330
Total equity	4,206,161	4,093,580
Total liabilities and equity	$ 10,170,253	$ 9,860,863

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,563	$ 3,711
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	106,337	106,040
Common stock, outstanding (in shares)	106,337	106,040

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Total Albemarle Shareholders' Equity	Non-controlling Interests
Beginning Balance (in shares) at Dec. 31, 2018		105,616,028
Beginning Balance at Dec. 31, 2018	$ 3,759,108	$ 1,056	$ 1,368,897	$ (350,682)	$ 2,566,050	$ 3,585,321	$ 173,787
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	326,496				287,767	287,767	38,729
Other comprehensive (loss) income	1,251			1,271		1,271	(20)
Cash dividends declared	(116,839)				(77,877)	(77,877)	(38,962)
Stock-based compensation	12,197		12,197			12,197
Exercise of stock options (in shares)		125,909
Exercise of stock options	3,205	$ 1	3,204			3,205
Issuance of common stock, net (in shares)		356,824
Issuance of common stock, net	0	$ 3	(3)			0
Increase in ownership interest of noncontrolling interest	(445)		(513)			(513)	68
Shares withheld for withholding taxes associated with common stock issuances (in shares)		(127,297)
Shares withheld for withholding taxes associated with common stock issuances	(10,570)	$ (1)	(10,569)			(10,570)
Ending Balance (in shares) at Jun. 30, 2019		105,971,464
Ending Balance at Jun. 30, 2019	3,974,403	$ 1,059	1,373,213	(349,411)	2,775,940	3,800,801	173,602
Beginning Balance (in shares) at Mar. 31, 2019		105,950,011
Beginning Balance at Mar. 31, 2019	3,864,039	$ 1,059	1,368,069	(357,538)	2,660,684	3,672,274	191,765
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	174,970				154,198	154,198	20,772
Other comprehensive (loss) income	8,154			8,127		8,127	27
Cash dividends declared	(77,904)				(38,942)	(38,942)	(38,962)
Stock-based compensation	4,930		4,930			4,930
Exercise of stock options (in shares)		11,781
Exercise of stock options	529	$ 0	529			529
Issuance of common stock, net (in shares)		16,713
Issuance of common stock, net	0	$ 0	0			0
Shares withheld for withholding taxes associated with common stock issuances (in shares)		(7,041)
Shares withheld for withholding taxes associated with common stock issuances	(315)	$ 0	(315)			(315)
Ending Balance (in shares) at Jun. 30, 2019		105,971,464
Ending Balance at Jun. 30, 2019	3,974,403	$ 1,059	1,373,213	(349,411)	2,775,940	3,800,801	173,602
Beginning Balance (in shares) at Dec. 31, 2019		106,040,215
Beginning Balance at Dec. 31, 2019	4,093,580	$ 1,061	1,383,446	(395,735)	2,943,478	3,932,250	161,330
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	227,393				192,828	192,828	34,565
Other comprehensive (loss) income	(35,316)			(35,396)		(35,396)	80
Cash dividends declared	(96,158)				(81,872)	(81,872)	(14,286)
Stock-based compensation	9,872		9,872			9,872
Exercise of stock options (in shares)		204,477
Exercise of stock options	10,809	$ 2	10,807			10,809
Issuance of common stock, net (in shares)		145,570
Issuance of common stock, net	0	$ 2	(2)			0
Shares withheld for withholding taxes associated with common stock issuances (in shares)		(53,280)
Shares withheld for withholding taxes associated with common stock issuances	(4,019)	$ (1)	(4,018)			(4,019)
Ending Balance (in shares) at Jun. 30, 2020		106,336,982
Ending Balance at Jun. 30, 2020	4,206,161	$ 1,064	1,400,105	(431,131)	3,054,434	4,024,472	181,689
Beginning Balance (in shares) at Mar. 31, 2020		106,318,614
Beginning Balance at Mar. 31, 2020	4,041,525	$ 1,063	1,393,681	(526,489)	3,009,749	3,878,004	163,521
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	103,758				85,624	85,624	18,134
Other comprehensive (loss) income	95,392			95,358		95,358	34
Cash dividends declared	(40,939)				(40,939)	(40,939)	0
Stock-based compensation	6,005		6,005			6,005
Exercise of stock options (in shares)		10,940
Exercise of stock options	614	$ 0	614			614
Issuance of common stock, net (in shares)		13,250
Issuance of common stock, net	0	$ 1	(1)			0
Shares withheld for withholding taxes associated with common stock issuances (in shares)		(5,822)
Shares withheld for withholding taxes associated with common stock issuances	(194)	$ 0	(194)			(194)
Ending Balance (in shares) at Jun. 30, 2020		106,336,982
Ending Balance at Jun. 30, 2020	$ 4,206,161	$ 1,064	$ 1,400,105	$ (431,131)	$ 3,054,434	$ 4,024,472	$ 181,689

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Financial Position [Abstract]
Cash dividends declared (in dollars per share)	$ 0.385	$ 0.3675	$ 0.77	$ 0.735

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement of Cash Flows [Abstract]
Cash and cash equivalents at beginning of year	$ 613,110	$ 555,320
Cash flows from operating activities:
Net income	227,393	326,496
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	111,535	102,231
Gain on sale of property	0	(11,079)
Stock-based compensation and other	9,765	10,136
Equity in net income of unconsolidated investments (net of tax)	(57,718)	(73,491)
Dividends received from unconsolidated investments and nonmarketable securities	12,984	60,291
Pension and postretirement (benefit) expense	(3,312)	1,055
Pension and postretirement contributions	(6,692)	(7,778)
Unrealized gain on investments in marketable securities	(1,278)	(577)
Deferred income taxes	8,990	3,570
Working capital changes	(156,579)	(223,238)
Other, net	62,829	11,672
Net cash provided by operating activities	207,917	199,288
Cash flows from investing activities:
Acquisitions, net of cash acquired	(22,572)	0
Capital expenditures	(418,991)	(415,626)
Proceeds from sale of property and equipment	0	10,356
Sales of marketable securities, net	1,496	908
Investments in equity and other corporate investments	(486)	(2,549)
Net cash used in investing activities	(440,553)	(406,911)
Cash flows from financing activities:
Proceeds from borrowings of credit agreements	452,163	0
Other borrowings, net	(12,956)	(183,052)
Dividends paid to shareholders	(79,909)	(74,313)
Dividends paid to noncontrolling interests	(14,286)	(38,962)
Proceeds from exercise of stock options	10,809	3,205
Withholding taxes paid on stock-based compensation award distributions	(4,019)	(10,570)
Debt financing costs	(2,669)	0
Other	0	(445)
Net cash provided by financing activities	375,045	61,967
Net effect of foreign exchange on cash and cash equivalents	(18,823)	(11,481)
Increase (decrease) in cash and cash equivalents	123,586	(157,137)
Cash and cash equivalents at end of period	$ 736,696	$ 398,183

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the accompanying unaudited condensed consolidated financial statements of Albemarle Corporation and our wholly-owned, majority-owned and controlled subsidiaries (collectively, “Albemarle,” “we,” “us,” “our” or “the Company”) contain all adjustments necessary for a fair statement, in all material respects, of our condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019, our consolidated statements of income, consolidated statements of comprehensive income and consolidated statements of changes in equity for the three-month and six-month periods ended June 30, 2020 and 2019 and our condensed consolidated statements of cash flows for the six-month periods ended June 30, 2020 and 2019. Cost of goods sold for the three-month period ended June 30, 2020 includes a net expense of $9.8 million for the correction of out-of-period errors regarding understated cost of goods sold for inventory values within the Catalysts segment and overstated freight accruals primarily within the Lithium and Catalysts segments. These errors understated (overstated) Income before income taxes and equity in net income of unconsolidated investments for the fiscal year ended December 31, 2019 and the three-month period ended March 31, 2020 by $0.5 million and ($10.3) million, respectively. The Company does not believe these adjustments are material to the consolidated financial statements for any of the prior periods presented or to the three-month period ended June 30, 2020 in which they were corrected. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019, which was filed with the Securities and Exchange Commission (“SEC”) on February 26, 2020. The December 31, 2019 condensed consolidated balance sheet data herein was derived from audited financial statements, but does not include all disclosures required by generally accepted accounting principles (“GAAP”) in the United States (“U.S.”). The results of operations for the three-month and six-month periods ended June 30, 2020 are not necessarily indicative of the results to be expected for the full year. The current novel coronavirus (“COVID-19”) pandemic is having an impact on overall global economic conditions. While we have not seen a material impact to our operations to date, the ultimate impact on our business will depend on the length and severity of the outbreak throughout the world. The Company has taken, and plans to continue to take, certain measures to maintain financial flexibility, including delaying certain capital expenditure projects and accelerating our cost savings initiative, while still protecting our employees and customers. In addition, on May 11, 2020, the Company amended its revolving, unsecured credit agreement dated as of June 21, 2018, as amended on August 14, 2019 (the “2018 Credit Agreement”) and unsecured credit facility entered into on August 14, 2019 (the “2019 Credit Facility”) (together “the Credit Agreements”) to modify its financial covenant based on the Company’s current expectations. As of June 30, 2020, the Company is in compliance with its financial covenant under its Credit Agreements and expects to be in compliance with its financial covenant for at least one year from the issuance of these interim financial statements. If conditions caused by the COVID-19 pandemic worsen and the Company’s earnings and cash flow from operations do not start to recover as contemplated in the Company's current plans, the Company may not be able to maintain compliance with its amended financial covenant and could have a material adverse effect on the Company. See Note 8, “Long-Term Debt,” for further discussion of covenant amendment. In addition, as of June 30, 2020, we assessed other accounting estimates based on forecasted financial information, including, but not limited to, our allowance for credit losses, the carrying value of our goodwill, intangible assets, and other long-lived assets. At this time we cannot predict the ultimate financial impact of the COVID-19 pandemic on our business, and to what extent economic and operating conditions recover on a sustainable basis globally. Accordingly, if the impact is more severe or longer in duration than we have assumed, such impact could potentially result in impairments and increases in credit allowances.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions	2—Acquisitions: On October 31, 2019 (the “Acquisition Closing Date”), we completed the previously announced acquisition of a 60% interest in Mineral Resources Limited’s (“MRL”) Wodgina hard rock lithium mine project (“Wodgina Project”) for a total purchase price of approximately $1.3 billion. The purchase price is comprised of $820 million in cash and the transfer of 40% interest in certain lithium hydroxide conversion assets being built by Albemarle in Kemerton, Western Australia, valued at $480 million. The cash consideration was initially funded by the 2019 Credit Facility entered into on August 14, 2019. In addition, during the first six months of 2020, we paid $22.6 million of agreed upon purchase price adjustments. The stamp duty levied on the assets purchased of $61.5 million, originally recorded as an expense during the year ended December 31, 2019, was paid in the second quarter of 2020 and is included in Change in working capital on the condensed consolidated statement of cash flows. In addition, we have formed an unincorporated joint venture with MRL, MARBL, for the exploration, development, mining, processing and production of lithium and other minerals (other than iron ore and tantalum) from the Wodgina Project and for the operation of the Kemerton assets. We are entitled to a pro rata portion of 60% of all minerals (other than iron ore and tantalum) recovered from the tenements and produced by the joint venture. The joint venture is unincorporated with each investor holding an undivided interest in each asset and proportionately liable for each liability; therefore, our proportionate share of assets, liabilities, revenue and expenses are included in the appropriate classifications in the consolidated financial statements. As part of this acquisition, MARBL Lithium Operations Pty. Ltd. (the “Manager”), an incorporated joint venture, has been formed to manage the Wodgina Project. We consolidate our 60% ownership interest in the Manager in our consolidated financial statements. This acquisition provides access to a high-quality hard rock lithium source, further diversifying our global lithium resource base, and strengthens our position by increasing capacity to support future market demand. In connection with the acquisition, we idled production of the Wodgina spodumene mine until demand supports bringing the mine back to production. The results of our 60% ownership interest in MARBL are reported within the Lithium segment. Included in Net income attributable to Albemarle Corporation for the three-month and six-month periods ended June 30, 2020 is a loss of approximately $5.2 million and $9.9 million, respectively, attributable to the joint venture. There were no net sales attributable to the joint venture during this period. Included in Selling, general and administrative expenses on our consolidated statements of income for the three-month and six-month periods ended June 30, 2020 is $0.4 million and $0.8 million, respectively, of costs directly related to this acquisition, primarily consisting of professional services and advisory fees. Pro forma financial information of the combined entities for periods prior to the acquisition is not presented due to the immaterial impact of the Net Sales and Net Income of the Wodgina Project on our consolidated statements of income. Preliminary Purchase Price Allocation The aggregate purchase price noted above was allocated to the major categories of assets and liabilities acquired based upon their estimated fair values at the Acquisition Closing Date, which were based, in part, upon third-party appraisals for certain assets. The excess of the purchase price over the preliminary estimated fair value of the net assets acquired was approximately $18.8 million and was recorded as Goodwill. The following table summarizes the consideration paid for the joint venture and the amounts of the assets acquired and liabilities assumed as of the acquisition date, which have been allocated on a preliminary basis (in thousands): Total purchase price: Cash paid $ 820,000 Fair value of 40% interest in Kemerton assets 480,000 Purchase agreement completion adjustment and other adjustments 22,566 Total purchase price $ 1,322,566 Net assets acquired: Inventories $ 33,900 Other current assets 11,280 Property, plant and equipment: Land improvements 2,912 Buildings and improvements 19,268 Machinery and equipment 163,808 Mineral rights and reserves 1,058,700 Construction in progress 103,700 Current liabilities (10,695) Long-term debt (a) (55,806) Other noncurrent liabilities (23,296) Total identifiable net assets 1,303,771 Goodwill 18,795 Total net assets acquired $ 1,322,566 (a) Represents 60% ownership interest in finance lease acquired. See Note 10, “Leases,” for further information on the Company’s leases. The allocation of the purchase price to the assets acquired and liabilities assumed, including the residual amount allocated to Goodwill, is based upon preliminary information and is subject to change within the measurement-period (up to one year from the acquisition date) as additional information concerning final asset and liability valuations is obtained. Significant changes in our purchase price allocation since our initial preliminary estimates reported in the fourth quarter of 2019 were primarily related to an increase in the estimated fair values of mineral rights and reserves, which resulted in a decrease to recognized goodwill of approximately $13.0 million. The primary areas of the preliminary purchase price allocation that are not yet finalized relate to the fair value of Mineral rights and reserves and Goodwill. The fair value of the assets acquired and liabilities assumed were based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. The fair value of the mineral reserves of $1,025.9 million was determined using an excess earnings approach, which requires management to estimate future cash flows, net of capital investments in the specific operation. Management’s cash flow projections involved the use of significant estimates and assumptions with respect to the expected production of the mine over the estimated time period, sales prices, shipment volumes, and expected profit margins. The present value of the projected net cash flows represents the preliminary fair value assigned to mineral reserves. The discount rate is a significant assumption used in the valuation model. If the actual results differ from the estimates and judgments used in these fair values, the amounts recorded in the consolidated financial statements could be subject to possible impairment. Goodwill arising from the acquisition consists largely of anticipated synergies and economies of scale from the combined companies and overall strategic importance of the acquired businesses to Albemarle. The goodwill attributable to the acquisition will not be amortizable or deductible for tax purposes.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	Goodwill and Other Intangibles: The following table summarizes the changes in goodwill by reportable segment for the six months ended June 30, 2020 (in thousands): Lithium Bromine Specialties Catalysts All Other Total Balance at December 31, 2019 $ 1,370,846 $ 20,319 $ 181,034 $ 6,586 $ 1,578,785 Acquisitions (a) (12,967) — — — (12,967) Foreign currency translation adjustments and other 4,917 — 545 — 5,462 Balance at June 30, 2020 $ 1,362,796 $ 20,319 $ 181,579 $ 6,586 $ 1,571,280 (a) Represents preliminary purchase price adjustments for the Wodgina Project acquisition. See Note 2, “Acquisitions” for additional information. The following table summarizes the changes in other intangibles and related accumulated amortization for the six months ended June 30, 2020 (in thousands): Customer Lists and Relationships Trade Names and Trademarks (a) Patents and Technology Other Total Gross Asset Value Balance at December 31, 2019 $ 422,462 $ 18,087 $ 55,020 $ 41,282 $ 536,851 Foreign currency translation adjustments and other 3,202 (204) 39 (1,687) 1,350 Balance at June 30, 2020 $ 425,664 $ 17,883 $ 55,059 $ 39,595 $ 538,201 Accumulated Amortization Balance at December 31, 2019 $ (116,749) $ (7,938) $ (36,197) $ (21,345) $ (182,229) Amortization (11,076) — (678) (462) (12,216) Foreign currency translation adjustments and other (956) (25) (215) 279 (917) Balance at June 30, 2020 $ (128,781) $ (7,963) $ (37,090) $ (21,528) $ (195,362) Net Book Value at December 31, 2019 $ 305,713 $ 10,149 $ 18,823 $ 19,937 $ 354,622 Net Book Value at June 30, 2020 $ 296,883 $ 9,920 $ 17,969 $ 18,067 $ 342,839 (a) Net Book Value includes only indefinite-lived intangible assets.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes:The effective income tax rate for the three-month and six-month periods ended June 30, 2020 was 17.5% and 16.6%, respectively, compared to 18.2% and 21.2% for the three-month and six-month periods ended June 30, 2019, respectively. The Company’s effective income tax rate fluctuates based on, among other factors, its level and location of income. The difference between the U.S. federal statutory income tax rate and our effective income tax rate for the three-month and six-month periods ended June 30, 2020 was impacted by a variety of factors, primarily stemming from the location in which income was earned. For the three-month and six-month periods ended June 30, 2020, this was mainly attributable to our share of the income of our Jordan Bromine Company Limited (“JBC”) joint venture, a Free Zones company under the laws of the Hashemite Kingdom of Jordan. The difference between the U.S. federal statutory income tax rate and our effective income tax rate for the three-month and six-month periods ended June 30, 2019 was impacted by a variety of factors, primarily stemming from the location in which income was earned.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share: Basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2020 and 2019 are calculated as follows (in thousands, except per share amounts): Three Months Ended Six Months Ended 2020 2019 2020 2019 Basic earnings per share Numerator: Net income attributable to Albemarle Corporation $ 85,624 $ 154,198 $ 192,828 $ 287,767 Denominator: Weighted-average common shares for basic earnings per share 106,329 105,961 106,278 105,880 Basic earnings per share $ 0.81 $ 1.46 $ 1.81 $ 2.72 Diluted earnings per share Numerator: Net income attributable to Albemarle Corporation $ 85,624 $ 154,198 $ 192,828 $ 287,767 Denominator: Weighted-average common shares for basic earnings per share 106,329 105,961 106,278 105,880 Incremental shares under stock compensation plans 206 355 246 456 Weighted-average common shares for diluted earnings per share 106,535 106,316 106,524 106,336 Diluted earnings per share $ 0.80 $ 1.45 $ 1.81 $ 2.71 At June 30, 2020, there were 261,042 common stock equivalents not included in the computation of diluted earnings per share because their effect would have been anti-dilutive. On February 28, 2020, the Company increased the regular quarterly dividend by 5% to $0.385 per share. On May 5, 2020, the Company declared a cash dividend of $0.385, which was paid on July 1, 2020 to shareholders of record at the close of business as of June 12, 2020. On July 14, 2020, the Company declared a cash dividend of $0.385 per share, which is payable on October 1, 2020 to shareholders of record at the close of business as of September 18, 2020.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories: The following table provides a breakdown of inventories at June 30, 2020 and December 31, 2019 (in thousands): June 30, December 31, 2020 2019 Finished goods $ 538,192 $ 495,639 Raw materials and work in process (a) 239,207 205,781 Stores, supplies and other 73,857 67,564 Total $ 851,256 $ 768,984 (a) Included $120.4 million and $109.3 million at June 30, 2020 and December 31, 2019, respectively, of work in process in our Lithium segment.

Investments

Investments	6 Months Ended
	Jun. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments:The Company holds a 49% equity interest in Windfield Holdings Pty. Ltd. (“Windfield”), where the ownership parties share risks and benefits disproportionate to their voting interests. As a result, the Company considers Windfield to be a variable interest entity (“VIE”), however this investment is not consolidated as the Company is not the primary beneficiary. The carrying amount of our 49% equity interest in Windfield, which is our most significant VIE, was $440.8 million and $397.2 million at June 30, 2020 and December 31, 2019, respectively. The Company’s aggregate net investment in all other entities which it considers to be VIEs for which the Company is not the primary beneficiary was $7.4 million and $7.6 million at June 30, 2020 and December 31, 2019, respectively. Our unconsolidated VIEs are reported in Investments on the condensed consolidated balance sheets. The Company does not guarantee debt for, or have other financial support obligations to, these entities, and its maximum exposure to loss in connection with its continuing involvement with these entities is limited to the carrying value of the investments.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Long-term Debt	Long-Term Debt: Long-term debt at June 30, 2020 and December 31, 2019 consisted of the following (in thousands): June 30, December 31, 2020 2019 1.125% notes, net of unamortized discount and debt issuance costs of $4,203 at June 30, 2020 and $5,659 at December 31, 2019 $ 556,697 $ 549,241 1.625% notes, net of unamortized discount and debt issuance costs of $5,847 at June 30, 2020 and $5,696 at December 31, 2019 555,053 549,204 1.875% Senior notes, net of unamortized discount and debt issuance costs of $1,372 at June 30, 2020 and $1,831 at December 31, 2019. 439,415 434,241 3.450% Senior notes, net of unamortized discount and debt issuance costs of $3,228 at June 30, 2020 and $3,533 at December 31, 2019 296,772 296,467 4.15% Senior notes, net of unamortized discount and debt issuance costs of $2,154 at June 30, 2020 and $2,398 at December 31, 2019 422,846 422,603 5.45% Senior notes, net of unamortized discount and debt issuance costs of $3,772 at June 30, 2020 and $3,850 at December 31, 2019 346,228 346,150 Floating rate notes, net of unamortized debt issuance costs of $902 at June 30, 2020 and $1,169 at December 31, 2019 199,098 198,831 Credit facilities 455,609 — Commercial paper notes 200,000 186,700 Variable-rate foreign bank loans 7,462 7,296 Finance lease obligations 59,212 59,524 Total long-term debt 3,538,392 3,050,257 Less amounts due within one year 406,201 187,336 Long-term debt, less current portion $ 3,132,191 $ 2,862,921 Current portion of long-term debt at June 30, 2020 consisted primarily of commercial paper notes with a weighted-average interest rate of approximately 1.13% and a weighted-average maturity of 17 days. In the first quarter of 2020, the Company borrowed $250.0 million under the 2018 Credit Agreement to repay approximately $152 million in short-term commercial paper notes and for other general corporate purposes. The applicable interest rate for the amount borrowed was 1.30% as of June 30, 2020. In April 2020, the Company borrowed the Euro equivalent of $200.0 million under the 2019 Credit Facility to be used for general corporate purposes. The applicable interest rate for the amount borrowed was 1.125%. The carrying value of our 1.875% Euro-denominated senior notes has been designated as an effective hedge of our net investment in certain foreign subsidiaries where the Euro serves as the functional currency, and gains or losses on the revaluation of these senior notes to our reporting currency are recorded in accumulated other comprehensive loss. During the three-month and six-month periods ended June 30, 2020, losses of $5.8 million and $3.7 million (net of income taxes), respectively, and during the three-month and six-month periods ended June 30, 2019, (losses) gains of ($3.0) million and $0.3 million (net of income taxes), respectively, were recorded in accumulated other comprehensive loss in connection with the revaluation of these senior notes to our reporting currency. As a result of the uncertainty of the overall financial impact of the COVID-19 pandemic, the Company amended the Credit Agreements on May 11, 2020 to modify its financial covenant based on the Company’s current expectations. The amendment effects changes to certain provisions of the Credit Agreements, including: (a) conversion of the consolidated funded debt to consolidated EBITDA ratio to a consolidated net funded debt to consolidated EBITDA ratio; (b) carving-out third party sales of accounts receivables from the Securitization Transaction definition; (c) setting the consolidated net funded debt to consolidated EBITDA ratio to 4.00:1 for the fiscal quarter ending June 30, 2020, 4.50:1 for the fiscal quarters through September 30, 2021, 4.00:1 for the fiscal quarter ending December 31, 2021, and 3.50:1 for fiscal quarters thereafter; and (d) reducing the priority debt basket to 24% of Consolidated Net Tangible Assets, as defined in the Credit Agreements, through and including December 31, 2021. As part of this amendment, the Company has agreed to pay a 10 basis point fee on the

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies: Environmental We had the following activity in our recorded environmental liabilities for the six months ended June 30, 2020 (in thousands): Beginning balance at December 31, 2019 $ 42,592 Expenditures (2,364) Accretion of discount 413 Foreign currency translation adjustments and other 139 Ending balance at June 30, 2020 40,780 Less amounts reported in Accrued expenses 9,381 Amounts reported in Other noncurrent liabilities $ 31,399 Environmental remediation liabilities included discounted liabilities of $34.1 million and $35.6 million at June 30, 2020 and December 31, 2019, respectively, discounted at rates with a weighted-average of 3.7%, with the undiscounted amount totaling $67.8 million and $69.2 million at June 30, 2020 and December 31, 2019, respectively. For certain locations where the Company is operating groundwater monitoring and/or remediation systems, prior owners or insurers have assumed all or most of the responsibility. The amounts recorded represent our future remediation and other anticipated environmental liabilities. These liabilities typically arise during the normal course of our operational and environmental management activities or at the time of acquisition of the site, and are based on internal analysis as well as input from outside consultants. As evaluations proceed at each relevant site, changes in risk assessment practices, remediation techniques and regulatory requirements can occur, therefore such liability estimates may be adjusted accordingly. The timing and duration of remediation activities at these sites will be determined when evaluations are completed. Although it is difficult to quantify the potential financial impact of these remediation liabilities, management estimates (based on the latest available information) that there is a reasonable possibility that future environmental remediation costs associated with our past operations, could be an additional $10 million to $30 million before income taxes, in excess of amounts already recorded. The variability of this range is primarily driven by possible environmental remediation activity at a formerly owned site where we indemnify the buyer through a set cutoff date in 2024. We believe that any sum we may be required to pay in connection with environmental remediation matters in excess of the amounts recorded would likely occur over a period of time and would likely not have a material adverse effect upon our results of operations, financial condition or cash flows on a consolidated annual basis although any such sum could have a material adverse impact on our results of operations, financial condition or cash flows in a particular quarterly reporting period. Litigation We are involved from time to time in legal proceedings of types regarded as common in our business, including administrative or judicial proceedings seeking remediation under environmental laws, such as the federal Comprehensive Environmental Response, Compensation and Liability Act, commonly known as CERCLA or Superfund, products liability, breach of contract liability and premises liability litigation. Where appropriate, we may establish financial reserves for such proceedings. We also maintain insurance to mitigate certain of such risks. Costs for legal services are generally expensed as incurred. As previously reported in 2018, following receipt of information regarding potential improper payments being made by third party sales representatives of our Refining Solutions business, within our Catalysts segment, we promptly retained outside counsel and forensic accountants to investigate potential violations of the Company’s Code of Conduct, the Foreign Corrupt Practices Act and other potentially applicable laws. Based on this internal investigation, we have voluntarily self-reported potential issues relating to the use of third party sales representatives in our Refining Solutions business, within our Catalysts segment, to the U.S. Department of Justice (“DOJ”), SEC, and the Dutch Public Prosecutor (“DPP”), and are cooperating with the DOJ, SEC, and DPP in their review of these matters. In connection with our internal investigation, we have implemented, and are continuing to implement, appropriate remedial measures. At this time, we are unable to predict the duration, scope, result or related costs associated with any investigations by the DOJ, SEC, or DPP. We are unable to predict what, if any, action may be taken by the DOJ, SEC, or DPP, or what penalties or remedial actions they may seek to impose. Any determination that our operations or activities are not in compliance with existing laws or regulations could result in the imposition of fines, penalties, disgorgement, equitable relief, or other losses. We do not believe, however, that any fines, penalties, disgorgement, equitable relief or other losses would have a material adverse effect on our financial condition or liquidity. Indemnities We are indemnified by third parties in connection with certain matters related to acquired and divested businesses. Although we believe that the financial condition of those parties who may have indemnification obligations to the Company is generally sound, in the event the Company seeks indemnity under any of these agreements or through other means, there can be no assurance that any party who may have obligations to indemnify us will adhere to their obligations and we may have to resort to legal action to enforce our rights under the indemnities. The Company may be subject to indemnity claims relating to properties or businesses it divested, including properties or businesses of acquired businesses that were divested prior to the completion of the acquisition. In the opinion of management, and based upon information currently available, the ultimate resolution of any indemnification obligations owed to the Company or by the Company is not expected to have a material effect on the Company’s financial condition, results of operations or cash flows. The Company had approximately $31.9 million and $31.0 million at June 30, 2020 and December 31, 2019, respectively, recorded in Other noncurrent liabilities, related to the indemnification of certain income and non-income tax liabilities associated with the Chemetall Surface Treatment entities sold. Other We have contracts with certain of our customers, which serve as guarantees on product delivery and performance according to customer specifications that can cover both shipments on an individual basis as well as blanket coverage of multiple shipments under certain customer supply contracts. The financial coverage provided by these guarantees is typically based on a percentage of net sales value.

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	Leases: We lease certain office space, buildings, transportation and equipment in various countries. The initial lease terms generally range from 1 to 30 years for real estate leases, and from 2 to 15 years for non-real estate leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and we recognize lease expense for these leases on a straight-line basis over the lease term. Many leases include options to terminate or renew, with renewal terms that can extend the lease term from 1 to 50 years or more. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table provides details of our lease contracts for the three-month and six-month periods ended June 30, 2020 and 2019 (in thousands): Three Months Ended Six Months Ended 2020 2019 2020 2019 Operating lease cost $ 8,473 $ 8,381 $ 17,213 $ 17,802 Finance lease cost: Amortization of right of use assets 153 136 307 314 Interest on lease liabilities 630 32 1,280 65 Total finance lease cost 783 168 1,587 379 Short-term lease cost 3,514 1,869 6,397 3,835 Variable lease cost 2,084 1,432 4,032 2,518 Total lease cost $ 14,854 $ 11,850 $ 29,229 $ 24,534 Supplemental cash flow information related to our lease contracts for the six-month periods ended June 30, 2020 and 2019 is as follows (in thousands): Six Months Ended June 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 18,664 $ 15,775 Operating cash flows from finance leases 749 65 Financing cash flows from finance leases 344 341 Right-of-use assets obtained in exchange for lease obligations: Operating leases 17,197 526 Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at June 30, 2020 and December 31, 2019 is as follows (in thousands, except as noted): June 30, 2020 December 31, 2019 Operating leases: Other assets $ 136,210 $ 133,864 Current operating lease liability 21,808 23,137 Other noncurrent liabilities 116,249 114,686 Total operating lease liabilities 138,057 137,823 Finance leases: Net property, plant and equipment 58,972 59,494 Current portion of long-term debt 592 636 Long-term debt 58,620 58,888 Total finance lease liabilities 59,212 59,524 Weighted average remaining lease term (in years): Operating leases 15.9 11.4 Finance leases 28.0 28.3 Weighted average discount rate (%): Operating leases 4.08 % 3.84 % Finance leases 4.57 % 4.56 % Maturities of lease liabilities as of June 30, 2020 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2020 $ 16,273 $ 1,092 2021 18,834 2,139 2022 14,675 4,420 2023 13,237 4,420 2024 12,289 4,420 Thereafter 149,131 94,335 Total lease payments 224,439 110,826 Less imputed interest 86,382 51,614 Total $ 138,057 $ 59,212
Leases	Leases: We lease certain office space, buildings, transportation and equipment in various countries. The initial lease terms generally range from 1 to 30 years for real estate leases, and from 2 to 15 years for non-real estate leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and we recognize lease expense for these leases on a straight-line basis over the lease term. Many leases include options to terminate or renew, with renewal terms that can extend the lease term from 1 to 50 years or more. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table provides details of our lease contracts for the three-month and six-month periods ended June 30, 2020 and 2019 (in thousands): Three Months Ended Six Months Ended 2020 2019 2020 2019 Operating lease cost $ 8,473 $ 8,381 $ 17,213 $ 17,802 Finance lease cost: Amortization of right of use assets 153 136 307 314 Interest on lease liabilities 630 32 1,280 65 Total finance lease cost 783 168 1,587 379 Short-term lease cost 3,514 1,869 6,397 3,835 Variable lease cost 2,084 1,432 4,032 2,518 Total lease cost $ 14,854 $ 11,850 $ 29,229 $ 24,534 Supplemental cash flow information related to our lease contracts for the six-month periods ended June 30, 2020 and 2019 is as follows (in thousands): Six Months Ended June 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 18,664 $ 15,775 Operating cash flows from finance leases 749 65 Financing cash flows from finance leases 344 341 Right-of-use assets obtained in exchange for lease obligations: Operating leases 17,197 526 Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at June 30, 2020 and December 31, 2019 is as follows (in thousands, except as noted): June 30, 2020 December 31, 2019 Operating leases: Other assets $ 136,210 $ 133,864 Current operating lease liability 21,808 23,137 Other noncurrent liabilities 116,249 114,686 Total operating lease liabilities 138,057 137,823 Finance leases: Net property, plant and equipment 58,972 59,494 Current portion of long-term debt 592 636 Long-term debt 58,620 58,888 Total finance lease liabilities 59,212 59,524 Weighted average remaining lease term (in years): Operating leases 15.9 11.4 Finance leases 28.0 28.3 Weighted average discount rate (%): Operating leases 4.08 % 3.84 % Finance leases 4.57 % 4.56 % Maturities of lease liabilities as of June 30, 2020 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2020 $ 16,273 $ 1,092 2021 18,834 2,139 2022 14,675 4,420 2023 13,237 4,420 2024 12,289 4,420 Thereafter 149,131 94,335 Total lease payments 224,439 110,826 Less imputed interest 86,382 51,614 Total $ 138,057 $ 59,212

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Reportable Segments	Segment Information: Our three reportable segments include: (1) Lithium; (2) Bromine Specialties; and (3) Catalysts. Each segment has a dedicated team of sales, research and development, process engineering, manufacturing and sourcing, and business strategy personnel and has full accountability for improving execution through greater asset and market focus, agility and responsiveness. This business structure aligns with the markets and customers we serve through each of the segments. This structure also facilitates the continued standardization of business processes across the organization, and is consistent with the manner in which information is presently used internally by the Company’s chief operating decision maker to evaluate performance and make resource allocation decisions. Summarized financial information concerning our reportable segments is shown in the following tables. The “All Other” category includes only the fine chemistry services business that does not fit into any of our core businesses. The Corporate category is not considered to be a segment and includes corporate-related items not allocated to the operating segments. Pension and OPEB service cost (which represents the benefits earned by active employees during the period) and amortization of prior service cost or benefit are allocated to the reportable segments, All Other, and Corporate, whereas the remaining components of pension and OPEB benefits cost or credit (“Non-operating pension and OPEB items”) are included in Corporate. Segment data includes inter-segment transfers of raw materials at cost and allocations for certain corporate costs. The Company’s chief operating decision maker uses adjusted EBITDA (as defined below) to assess the ongoing performance of the Company’s business segments and to allocate resources. The Company defines adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, as adjusted on a consistent basis for certain non-recurring or unusual items in a balanced manner and on a segment basis. These non-recurring or unusual items may include acquisition and integration related costs, gains or losses on sales of businesses, restructuring charges, facility divestiture charges, non-operating pension and OPEB items and other significant non-recurring items. In addition, management uses adjusted EBITDA for business planning purposes and as a significant component in the calculation of performance-based compensation for management and other employees. The Company has reported adjusted EBITDA because management believes it provides transparency to investors and enables period-to-period comparability of financial performance. Adjusted EBITDA is a financial measure that is not required by, or presented in accordance with, U.S. GAAP. Adjusted EBITDA should not be considered as an alternative to Net income attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with U.S. GAAP, or any other financial measure reported in accordance with U.S. GAAP. Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) (In thousands) Net sales: Lithium $ 283,722 $ 324,758 $ 520,540 $ 616,644 Bromine Specialties 232,779 255,433 464,371 504,485 Catalysts 197,053 266,301 404,260 517,949 All Other 50,495 38,560 113,723 78,038 Total net sales $ 764,049 $ 885,052 $ 1,502,894 $ 1,717,116 Adjusted EBITDA: Lithium $ 94,536 $ 141,779 $ 173,173 $ 257,395 Bromine Specialties 73,041 81,332 156,303 159,929 Catalysts 22,777 66,875 70,247 126,946 All Other 18,598 11,240 41,422 18,483 Corporate (23,759) (39,326) (59,587) (74,986) Total adjusted EBITDA $ 185,193 $ 261,900 $ 381,558 $ 487,767 See below for a reconciliation of adjusted EBITDA, the non-GAAP financial measure, from Net income attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with U.S. GAAP (in thousands): Lithium Bromine Specialties Catalysts Reportable Segments Total All Other Corporate Consolidated Total Three months ended June 30, 2020 Net income (loss) attributable to Albemarle Corporation $ 66,038 $ 60,692 $ 10,702 $ 137,432 $ 16,425 $ (68,233) $ 85,624 Depreciation and amortization 28,498 12,349 12,075 52,922 2,173 2,746 57,841 Restructuring and other (a) — — — — — 6,733 6,733 Acquisition and integration related costs (b) — — — — — 5,470 5,470 Interest and financing expenses — — — — — 17,852 17,852 Income tax expense — — — — — 15,431 15,431 Non-operating pension and OPEB items — — — — — (2,895) (2,895) Other (c) — — — — — (863) (863) Adjusted EBITDA $ 94,536 $ 73,041 $ 22,777 $ 190,354 $ 18,598 $ (23,759) $ 185,193 Three months ended June 30, 2019 Net income (loss) attributable to Albemarle Corporation $ 117,303 $ 69,616 $ 54,124 $ 241,043 $ 9,118 $ (95,963) $ 154,198 Depreciation and amortization 24,365 11,716 12,751 48,832 2,122 1,994 52,948 Restructuring and other (a) — — — — — 4,760 4,760 Acquisition and integration related costs (b) — — — — — 4,990 4,990 Interest and financing expenses — — — — — 11,601 11,601 Income tax expense — — — — — 30,411 30,411 Non-operating pension and OPEB items — — — — — (676) (676) Other (d) 111 — — 111 — 3,557 3,668 Adjusted EBITDA $ 141,779 $ 81,332 $ 66,875 $ 289,986 $ 11,240 $ (39,326) $ 261,900 Six months ended June 30, 2020 Net income (loss) attributable to Albemarle Corporation $ 119,278 $ 132,357 $ 45,594 $ 297,229 $ 37,271 $ (141,672) $ 192,828 Depreciation and amortization 53,895 23,946 24,653 102,494 4,151 4,890 111,535 Restructuring and other (a) — — — — — 8,580 8,580 Acquisition and integration related costs (b) — — — — — 8,426 8,426 Interest and financing expenses — — — — — 34,737 34,737 Income tax expense — — — — — 33,873 33,873 Non-operating pension and OPEB items — — — — — (5,803) (5,803) Other (c) — — — — — (2,618) (2,618) Adjusted EBITDA $ 173,173 $ 156,303 $ 70,247 $ 399,723 $ 41,422 $ (59,587) $ 381,558 Six months ended June 30, 2019 Net income (loss) attributable to Albemarle Corporation $ 210,472 $ 137,096 $ 101,983 $ 449,551 $ 14,324 $ (176,108) $ 287,767 Depreciation and amortization 46,457 22,833 24,963 94,253 4,159 3,819 102,231 Restructuring and other (a) — — — — — 5,290 5,290 Acquisition and integration related costs (b) — — — — — 10,274 10,274 Gain on sale of property (e) — — — — — (11,079) (11,079) Interest and financing expenses — — — — — 24,187 24,187 Income tax expense — — — — — 67,925 67,925 Non-operating pension and OPEB items — — — — — (1,259) (1,259) Other (d) 466 — — 466 — 1,965 2,431 Adjusted EBITDA $ 257,395 $ 159,929 $ 126,946 $ 544,270 $ 18,483 $ (74,986) $ 487,767 (a) Severance expenses as part of a business reorganization plan, primarily within our Lithium business in Germany, as well in our Bromine Specialties business in 2020. During the three months ended June 30, 2020, we recorded expenses of $6.7 million in Selling, general and administrative expenses. During the six months ended June 30, 2020, we recorded expenses of $0.7 million in Cost of goods sold, $8.2 million in Selling, general and administrative expenses and a $0.3 million gain in Net income attributable to noncontrolling interests for the portion of severance expense allocated to our Jordanian joint venture partner. The balance of unpaid severance is recorded in Accrued expenses and is expected to primarily be paid through the first quarter of 2021. During the three and six months ended June 30, 2019, severance expenses of $4.8 million and $5.3 million, respectively, were recorded in Selling, general and administrative expenses as part of a business reorganization plan primarily in Catalysts, Lithium and Corporate. (b) Costs related to the acquisition, integration and potential divestitures for various significant projects, recorded in Selling, general and administrative expenses. (c) Included amounts for the three months ended June 30, 2020 recorded in: ▪ Other (expenses) income, net - $0.9 million net gain primarily relating to the sale of idle properties in Germany. Included amounts for the six months ended June 30, 2020 recorded in: ▪ Other (expenses) income, net - $2.7 million gain resulting from the settlement of a legal matter related to a business sold and $0.8 million net gain primarily relating to the sale of idle properties in Germany, partially offset by a $0.8 million loss resulting from the adjustment of indemnifications related to previously disposed businesses. (d) Included amounts for the three months ended June 30, 2019 recorded in: ▪ Cost of goods sold - $0.1 million related to non-routine labor and compensation related costs in Chile that were outside normal compensation arrangements. ▪ Selling, general and administrative expenses - $1.0 million of shortfall contributions for our multiemployer plan financial improvement plan. ▪ Other (expenses) income, net - $2.5 million of a net loss primarily resulting from the adjustment of indemnifications related to previously disposed businesses. Included amounts for the six months ended June 30, 2019 recorded in: ▪ Cost of goods sold - $0.5 million related to non-routine labor and compensation related costs in Chile that were outside normal compensation arrangements. ▪ Selling, general and administrative expenses - $1.0 million of shortfall contributions for our multiemployer plan financial improvement plan. ▪ Other (expenses) income, net - $0.9 million of a net loss primarily resulting from the adjustment of indemnifications and other liabilities related to previously disposed businesses. (e) Gain recorded in Other (expenses) income, net related to the sale of land in Pasadena, Texas not used as part of our operations.

Pension Plans and Other Postret

Pension Plans and Other Postretirement Benefits	6 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
Pension Plans and Other Postretirement Benefits	Pension Plans and Other Postretirement Benefits: The components of pension and postretirement benefits cost (credit) for the three-month and six-month periods ended June 30, 2020 and 2019 were as follows (in thousands): Three Months Ended Six Months Ended 2020 2019 2020 2019 Pension Benefits Cost (Credit): Service cost $ 1,207 $ 1,123 $ 2,421 $ 2,253 Interest cost 6,666 8,220 13,353 16,540 Expected return on assets (10,028) (9,445) (20,091) (18,897) Amortization of prior service benefit 69 6 18 12 Total net pension benefits credit $ (2,086) $ (96) $ (4,299) $ (92) Postretirement Benefits Cost: Service cost $ 26 $ 25 $ 52 $ 49 Interest cost 467 549 935 1,098 Total net postretirement benefits cost $ 493 $ 574 $ 987 $ 1,147 Total net pension and postretirement benefits (credit) cost $ (1,593) $ 478 $ (3,312) $ 1,055 All components of net benefit cost (credit), other than service cost, are included in Other (expenses) income, net on the consolidated statements of income. During the three-month and six-month periods ended June 30, 2020, we made contributions of $2.1 million and $5.2 million, respectively, to our qualified and nonqualified pension plans. During the three-month and six-month periods ended June 30, 2019, we made contributions of $3.8 million and $6.5 million, respectively, to our qualified and nonqualified pension plans.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments: In assessing the fair value of financial instruments, we use methods and assumptions that are based on market conditions and other risk factors existing at the time of assessment. Fair value information for our financial instruments is as follows: Long-Term Debt—the fair values of our notes are estimated using Level 1 inputs and account for the difference between the recorded amount and fair value of our long-term debt. The carrying value of our remaining long-term debt reported in the accompanying condensed consolidated balance sheets approximates fair value as substantially all of such debt bears interest based on prevailing variable market rates currently available in the countries in which we have borrowings. June 30, 2020 December 31, 2019 Recorded Fair Value Recorded Fair Value (In thousands) Long-term debt $ 3,555,336 $ 3,541,003 $ 3,069,417 $ 3,173,341 Foreign Currency Forward Contracts—During the fourth quarter of 2019, we entered into a foreign currency forward contract, with a notional value of 727.9 million Australian Dollars to hedge the cash flow exposure of non-functional currency purchases during the construction of the Kemerton plant in Australia. This derivative financial instrument is used to manage risk and is not used for trading or other speculative purposes. This foreign currency forward contract has been designated as a hedging instrument under ASC 815, Derivatives and Hedging . At June 30, 2020 and December 31, 2019, we had outstanding designated foreign currency forward contracts with notional values totaling the equivalent of $282.0 million and $481.2 million, respectively. We also enter into foreign currency forward contracts in connection with our risk management strategies that have not been designated as hedging instruments under ASC 815, Derivatives and Hedging , in an attempt to minimize the financial impact of changes in foreign currency exchange rates. These derivative financial instruments are used to manage risk and are not used for trading or other speculative purposes. The fair values of our non-designated foreign currency forward contracts are estimated based on current settlement values. At June 30, 2020 and December 31, 2019, we had outstanding non-designated foreign currency forward contracts with notional values totaling $853.6 million and $1.15 billion, respectively, hedging our exposure to various currencies including the Euro, Chinese Renminbi, Chilean Peso and Australian Dollar. The following table summarizes the fair value of our foreign currency forward contracts included in the condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 December 31, 2019 Assets Liabilities Assets Liabilities Designated as hedging instruments (a) $ — $ 1,386 $ 5,369 $ — Not Designated as hedging instruments (b) 47 2,041 2,032 3,613 Total $ 47 $ 3,427 $ 7,401 $ 3,613 (a) Included $0.9 million in Accrued expenses and $0.5 million in Other liabilities at June 30, 2020 and $3.7 million in Other current assets and $1.7 million in Other assets at December 31, 2019. (b) Included less than $0.1 million in Other current assets and $2.0 million in Accrued expenses at June 30, 2020 and $2.0 million in Other current assets and $3.6 million in Accrued expenses at December 31, 2019. The following table summarizes the net gains (losses) recognized for our foreign currency forward contracts during the three-month and six-month periods ended June 30, 2020 and 2019 (in thousands): Three Months Ended Six Months Ended 2020 2019 2020 2019 Designated as hedging instruments Gains (losses) recognized in Other comprehensive income $ 37,645 $ — $ (13,815) $ — Not designated as hedging instruments (Losses) gains recognized in Other (expenses) income, net (a) $ (2,849) $ 2,099 $ (8,303) $ (8,316) (a) Fluctuations in the value of our foreign currency forward contracts not designated as hedging instruments are generally expected to be offset by changes in the value of the underlying exposures being hedged, which are also reported in Other (expenses) income, net. In addition, for the six-month periods ended June 30, 2020 and 2019, we recorded net cash settlements of $19.5 million and $7.8 million, respectively, in Other, net, in our condensed consolidated statements of cash flows. As of June 30, 2020, there are no unrealized gains or losses related to the cash flow hedge expected to be reclassified to earnings in the next twelve months. The counterparties to our foreign currency forward contracts are major financial institutions with which we generally have other financial relationships. We are exposed to credit loss in the event of nonperformance by these counterparties. However, we do not anticipate nonperformance by the counterparties.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement: Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The inputs used to measure fair value are classified into the following hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability Level 3 Unobservable inputs for the asset or liability We endeavor to utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following tables set forth our financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 Quoted Prices in Active Markets for Identical Items (Level 1) Quoted Prices in Active Markets for Similar Items (Level 2) Unobservable Inputs (Level 3) Assets: Investments under executive deferred compensation plan (a) $ 28,497 $ 28,497 $ — $ — Private equity securities (b) $ 24 $ 24 $ — $ — Private equity securities measured at net asset value (b)(c) $ 4,886 $ — $ — $ — Foreign currency forward contracts (d) $ 47 $ — $ 47 $ — Liabilities: Obligations under executive deferred compensation plan (a) $ 28,497 $ 28,497 $ — $ — Foreign currency forward contracts (d) $ 3,427 $ — $ 3,427 $ — December 31, 2019 Quoted Prices in Active Markets for Identical Items (Level 1) Quoted Prices in Active Markets for Similar Items (Level 2) Unobservable Inputs (Level 3) Assets: Investments under executive deferred compensation plan (a) $ 28,715 $ 28,715 $ — $ — Private equity securities (b) $ 32 $ 32 $ — $ — Private equity securities measured at net asset value (b)(c) $ 4,890 $ — $ — $ — Foreign currency forward contracts (d) $ 7,401 $ — $ 7,401 $ — Liabilities: Obligations under executive deferred compensation plan (a) $ 28,715 $ 28,715 $ — $ — Foreign currency forward contracts (d) $ 3,613 $ — $ 3,613 $ — (a) We maintain an Executive Deferred Compensation Plan (“EDCP”) that was adopted in 2001 and subsequently amended. The purpose of the EDCP is to provide current tax planning opportunities as well as supplemental funds upon the retirement or death of certain of our employees. The EDCP is intended to aid in attracting and retaining employees of exceptional ability by providing them with these benefits. We also maintain a Benefit Protection Trust (the “Trust”) that was created to provide a source of funds to assist in meeting the obligations of the EDCP, subject to the claims of our creditors in the event of our insolvency. Assets of the Trust are consolidated in accordance with authoritative guidance. The assets of the Trust consist primarily of mutual fund investments (which are accounted for as trading securities and are marked-to-market on a monthly basis through the consolidated statements of income) and cash and cash equivalents. As such, these assets and obligations are classified within Level 1. (b) Primarily consists of private equity securities classified as available-for-sale and are reported in Investments in the condensed consolidated balance sheets. The changes in fair value are reported in Other (expenses) income, net, in our consolidated statements of income. (c) Holdings in certain private equity securities are measured at fair value using the net asset value per share (or its equivalent) practical expedient and have not been categorized in the fair value hierarchy. (d) As a result of our global operating and financing activities, we are exposed to market risks from changes in foreign currency exchange rates, which may adversely affect our operating results and financial position. When deemed appropriate, we minimize our risks from foreign currency exchange rate fluctuations through the use of foreign currency forward contracts. The foreign currency forward contracts are valued using broker quotations or market transactions in either the listed or over-the-counter markets. As such, these derivative instruments are classified within Level 2. See Note 13, “Fair Value of Financial Instruments,” for further details about our foreign currency forward contracts.

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Accumulated Other Comprehensive (Loss) Income	Accumulated Other Comprehensive (Loss) Income: The components and activity in Accumulated other comprehensive (loss) income (net of deferred income taxes) consisted of the following during the periods indicated below (in thousands): Foreign Currency Translation Pension and Post-Retirement Benefits (a) Net Investment Hedge Cash Flow Hedge (b) Interest Rate Swap (c) Total Three months ended June 30, 2020 Balance at March 31, 2020 $ (551,242) $ 482 $ 82,859 $ (46,613) $ (11,975) $ (526,489) Other comprehensive income (loss) before reclassifications 62,847 — (5,756) 37,645 — 94,736 Amounts reclassified from accumulated other comprehensive loss — 8 — — 648 656 Other comprehensive income (loss), net of tax 62,847 8 (5,756) 37,645 648 95,392 Other comprehensive income attributable to noncontrolling interests (34) — — — — (34) Balance at June 30, 2020 $ (488,429) $ 490 $ 77,103 $ (8,968) $ (11,327) $ (431,131) Three months ended June 30, 2019 Balance at March 31, 2019 $ (418,454) $ (152) $ 75,641 $ — $ (14,573) $ (357,538) Other comprehensive income (loss) before reclassifications 10,544 — (3,037) — — 7,507 Amounts reclassified from accumulated other comprehensive loss — 6 — — 641 647 Other comprehensive income (loss), net of tax 10,544 6 (3,037) — 641 8,154 Other comprehensive income attributable to noncontrolling interests (27) — — — — (27) Balance at June 30, 2019 $ (407,937) $ (146) $ 72,604 $ — $ (13,932) $ (349,411) Six months ended June 30, 2020 Balance at December 31, 2019 $ (469,210) $ 473 $ 80,778 $ 4,847 $ (12,623) $ (395,735) Other comprehensive loss before reclassifications (19,139) — (3,675) (13,815) — (36,629) Amounts reclassified from accumulated other comprehensive loss — 17 — — 1,296 1,313 Other comprehensive (loss) income, net of tax (19,139) 17 (3,675) (13,815) 1,296 (35,316) Other comprehensive income attributable to noncontrolling interests (80) — — — — (80) Balance at June 30, 2020 $ (488,429) $ 490 $ 77,103 $ (8,968) $ (11,327) $ (431,131) Six months ended June 30, 2019 Balance at December 31, 2018 $ (407,646) $ (159) $ 72,337 $ — $ (15,214) $ (350,682) Other comprehensive (loss) income before reclassifications (311) — 267 — — (44) Amounts reclassified from accumulated other comprehensive loss — 13 — — 1,282 1,295 Other comprehensive (loss) income, net of tax (311) 13 267 — 1,282 1,251 Other comprehensive loss attributable to noncontrolling interests 20 — — — — 20 Balance at June 30, 2019 $ (407,937) $ (146) $ 72,604 $ — $ (13,932) $ (349,411) (a) The pre-tax portion of amounts reclassified from accumulated other comprehensive loss consists of amortization of prior service benefit, which is a component of pension and postretirement benefits cost (credit). See Note 12, “Pension Plans and Other Postretirement Benefits,” for additional information. (b) We entered into a foreign currency forward contract, which was designated and accounted for as a cash flow hedge under ASC 815, Derivatives and Hedging . See Note 13, “Fair Value of Financial Instruments,” for additional information. (c) The pre-tax portion of amounts reclassified from accumulated other comprehensive loss is included in interest expense. The amount of income tax (expense) benefit allocated to each component of Other comprehensive income (loss) for the three-month and six-month periods ended June 30, 2020 and 2019 is provided in the following tables (in thousands): Foreign Currency Translation Pension and Postretirement Benefits Net Investment Hedge Cash Flow Hedge Interest Rate Swap Three months ended June 30, 2020 Other comprehensive income (loss), before tax $ 62,847 $ 9 $ (7,401) $ 37,645 $ 834 Income tax (expense) benefit — (1) 1,645 — (186) Other comprehensive income (loss), net of tax $ 62,847 $ 8 $ (5,756) $ 37,645 $ 648 Three months ended June 30, 2019 Other comprehensive income (loss), before tax $ 10,544 $ 6 $ (3,951) $ — $ 834 Income tax benefit (expense) — — 914 — (193) Other comprehensive income (loss), net of tax $ 10,544 $ 6 $ (3,037) $ — $ 641 Six months ended June 30, 2020 Other comprehensive (loss) income, before tax $ (19,142) $ 18 $ (4,726) $ (13,815) $ 1,668 Income tax benefit (expense) 3 (1) 1,051 — (372) Other comprehensive (loss) income, net of tax $ (19,139) $ 17 $ (3,675) $ (13,815) $ 1,296 Six months ended June 30, 2019 Other comprehensive (loss) income, before tax $ (310) $ 13 $ 348 $ — $ 1,668 Income tax (expense) benefit (1) — (81) — (386) Other comprehensive (loss) income, net of tax $ (311) $ 13 $ 267 $ — $ 1,282

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions: Our consolidated statements of income include sales to and purchases from unconsolidated affiliates in the ordinary course of business as follows (in thousands): Three Months Ended Six Months Ended 2020 2019 2020 2019 Sales to unconsolidated affiliates $ 5,281 $ 5,372 $ 12,498 $ 9,663 Purchases from unconsolidated affiliates (a) $ 55,149 $ 55,617 $ 131,624 $ 119,116 (a) Purchases from unconsolidated affiliates primarily relate to purchases from our Windfield joint venture. Our condensed consolidated balance sheets include accounts receivable due from and payable to unconsolidated affiliates in the ordinary course of business as follows (in thousands): June 30, 2020 December 31, 2019 Receivables from unconsolidated affiliates $ 4,454 $ 7,163 Payables to unconsolidated affiliates $ 30,368 $ 35,502

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2020
Supplemental Cash Flow Information [Abstract]
Supplemental Information Related to Consolidated Statement of Cash Flows	Supplemental Cash Flow Information: Supplemental information related to the condensed consolidated statements of cash flows is as follows (in thousands): Six Months Ended 2020 2019 Supplemental non-cash disclosure related to investing activities: Capital expenditures included in Accounts payable $ 180,707 $ 170,776 As part of the purchase price paid for the acquisition of a 60% interest in MRL’s Wodgina Project, the Company transferred $87.8 million of its construction in progress of the designated Kemerton assets during the six months ended June 30, 2020, representing MRL’s 40% interest in the assets. Since the acquisition, we have transferred $252.5 million of construction in progress to MRL through June 30, 2020. The cash outflow for these assets is recorded in Capital expenditures within Cash flows from investing activities on the condensed consolidated statements of cash flows. The Company expects to transfer a total of approximately $480 million over the construction of these assets, as defined in the purchase agreement. See Note 2, “Acquisitions,” for further details.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements: In June 2016, the Financial Accounting Standards Board (“FASB”) issued accounting guidance that, among other things, changes the way entities recognize impairment of financial assets by requiring immediate recognition of estimated credit losses expected to occur over the remaining life of the financial asset. Additional disclosures are required regarding an entity’s assumptions, models and methods for estimating the expected credit loss. This guidance became effective on January 1, 2020 and did not have a significant impact on our financial statements. In January 2017, the FASB issued accounting guidance to simplify the accounting for goodwill imp airment. The guidance removes Step 2 of the goodwill impairment test, which requires a reporting unit to calculate the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit has been acquired in a business combination. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. This guidance became effective on January 1, 2020 and did not have a significant impact on our financial statements.

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	In June 2016, the Financial Accounting Standards Board (“FASB”) issued accounting guidance that, among other things, changes the way entities recognize impairment of financial assets by requiring immediate recognition of estimated credit losses expected to occur over the remaining life of the financial asset. Additional disclosures are required regarding an entity’s assumptions, models and methods for estimating the expected credit loss. This guidance became effective on January 1, 2020 and did not have a significant impact on our financial statements. In January 2017, the FASB issued accounting guidance to simplify the accounting for goodwill imp airment. The guidance removes Step 2 of the goodwill impairment test, which requires a reporting unit to calculate the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit has been acquired in a business combination. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. This guidance became effective on January 1, 2020 and did not have a significant impact on our financial statements.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2020
Mineral Resources Limited Wodgina Project
Business Acquisition [Line Items]
Schedule of Business Acquisitions	The following table summarizes the consideration paid for the joint venture and the amounts of the assets acquired and liabilities assumed as of the acquisition date, which have been allocated on a preliminary basis (in thousands): Total purchase price: Cash paid $ 820,000 Fair value of 40% interest in Kemerton assets 480,000 Purchase agreement completion adjustment and other adjustments 22,566 Total purchase price $ 1,322,566 Net assets acquired: Inventories $ 33,900 Other current assets 11,280 Property, plant and equipment: Land improvements 2,912 Buildings and improvements 19,268 Machinery and equipment 163,808 Mineral rights and reserves 1,058,700 Construction in progress 103,700 Current liabilities (10,695) Long-term debt (a) (55,806) Other noncurrent liabilities (23,296) Total identifiable net assets 1,303,771 Goodwill 18,795 Total net assets acquired $ 1,322,566 (a) Represents 60% ownership interest in finance lease acquired. See Note 10, “Leases,” for further information on the Company’s leases.

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Goodwill	The following table summarizes the changes in goodwill by reportable segment for the six months ended June 30, 2020 (in thousands): Lithium Bromine Specialties Catalysts All Other Total Balance at December 31, 2019 $ 1,370,846 $ 20,319 $ 181,034 $ 6,586 $ 1,578,785 Acquisitions (a) (12,967) — — — (12,967) Foreign currency translation adjustments and other 4,917 — 545 — 5,462 Balance at June 30, 2020 $ 1,362,796 $ 20,319 $ 181,579 $ 6,586 $ 1,571,280 (a) Represents preliminary purchase price adjustments for the Wodgina Project acquisition. See Note 2, “Acquisitions” for additional information.
Other Intangibles	The following table summarizes the changes in other intangibles and related accumulated amortization for the six months ended June 30, 2020 (in thousands): Customer Lists and Relationships Trade Names and Trademarks (a) Patents and Technology Other Total Gross Asset Value Balance at December 31, 2019 $ 422,462 $ 18,087 $ 55,020 $ 41,282 $ 536,851 Foreign currency translation adjustments and other 3,202 (204) 39 (1,687) 1,350 Balance at June 30, 2020 $ 425,664 $ 17,883 $ 55,059 $ 39,595 $ 538,201 Accumulated Amortization Balance at December 31, 2019 $ (116,749) $ (7,938) $ (36,197) $ (21,345) $ (182,229) Amortization (11,076) — (678) (462) (12,216) Foreign currency translation adjustments and other (956) (25) (215) 279 (917) Balance at June 30, 2020 $ (128,781) $ (7,963) $ (37,090) $ (21,528) $ (195,362) Net Book Value at December 31, 2019 $ 305,713 $ 10,149 $ 18,823 $ 19,937 $ 354,622 Net Book Value at June 30, 2020 $ 296,883 $ 9,920 $ 17,969 $ 18,067 $ 342,839 (a) Net Book Value includes only indefinite-lived intangible assets.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earning Per Share	Basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2020 and 2019 are calculated as follows (in thousands, except per share amounts): Three Months Ended Six Months Ended 2020 2019 2020 2019 Basic earnings per share Numerator: Net income attributable to Albemarle Corporation $ 85,624 $ 154,198 $ 192,828 $ 287,767 Denominator: Weighted-average common shares for basic earnings per share 106,329 105,961 106,278 105,880 Basic earnings per share $ 0.81 $ 1.46 $ 1.81 $ 2.72 Diluted earnings per share Numerator: Net income attributable to Albemarle Corporation $ 85,624 $ 154,198 $ 192,828 $ 287,767 Denominator: Weighted-average common shares for basic earnings per share 106,329 105,961 106,278 105,880 Incremental shares under stock compensation plans 206 355 246 456 Weighted-average common shares for diluted earnings per share 106,535 106,316 106,524 106,336 Diluted earnings per share $ 0.80 $ 1.45 $ 1.81 $ 2.71

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Breakdown of Inventories	The following table provides a breakdown of inventories at June 30, 2020 and December 31, 2019 (in thousands): June 30, December 31, 2020 2019 Finished goods $ 538,192 $ 495,639 Raw materials and work in process (a) 239,207 205,781 Stores, supplies and other 73,857 67,564 Total $ 851,256 $ 768,984 (a) Included $120.4 million and $109.3 million at June 30, 2020 and December 31, 2019, respectively, of work in process in our Lithium segment.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt at June 30, 2020 and December 31, 2019 consisted of the following (in thousands): June 30, December 31, 2020 2019 1.125% notes, net of unamortized discount and debt issuance costs of $4,203 at June 30, 2020 and $5,659 at December 31, 2019 $ 556,697 $ 549,241 1.625% notes, net of unamortized discount and debt issuance costs of $5,847 at June 30, 2020 and $5,696 at December 31, 2019 555,053 549,204 1.875% Senior notes, net of unamortized discount and debt issuance costs of $1,372 at June 30, 2020 and $1,831 at December 31, 2019. 439,415 434,241 3.450% Senior notes, net of unamortized discount and debt issuance costs of $3,228 at June 30, 2020 and $3,533 at December 31, 2019 296,772 296,467 4.15% Senior notes, net of unamortized discount and debt issuance costs of $2,154 at June 30, 2020 and $2,398 at December 31, 2019 422,846 422,603 5.45% Senior notes, net of unamortized discount and debt issuance costs of $3,772 at June 30, 2020 and $3,850 at December 31, 2019 346,228 346,150 Floating rate notes, net of unamortized debt issuance costs of $902 at June 30, 2020 and $1,169 at December 31, 2019 199,098 198,831 Credit facilities 455,609 — Commercial paper notes 200,000 186,700 Variable-rate foreign bank loans 7,462 7,296 Finance lease obligations 59,212 59,524 Total long-term debt 3,538,392 3,050,257 Less amounts due within one year 406,201 187,336 Long-term debt, less current portion $ 3,132,191 $ 2,862,921

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Activity in Recorded Environmental Liabilities	We had the following activity in our recorded environmental liabilities for the six months ended June 30, 2020 (in thousands): Beginning balance at December 31, 2019 $ 42,592 Expenditures (2,364) Accretion of discount 413 Foreign currency translation adjustments and other 139 Ending balance at June 30, 2020 40,780 Less amounts reported in Accrued expenses 9,381 Amounts reported in Other noncurrent liabilities $ 31,399

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Lease, Cost	The following table provides details of our lease contracts for the three-month and six-month periods ended June 30, 2020 and 2019 (in thousands): Three Months Ended Six Months Ended 2020 2019 2020 2019 Operating lease cost $ 8,473 $ 8,381 $ 17,213 $ 17,802 Finance lease cost: Amortization of right of use assets 153 136 307 314 Interest on lease liabilities 630 32 1,280 65 Total finance lease cost 783 168 1,587 379 Short-term lease cost 3,514 1,869 6,397 3,835 Variable lease cost 2,084 1,432 4,032 2,518 Total lease cost $ 14,854 $ 11,850 $ 29,229 $ 24,534 Supplemental cash flow information related to our lease contracts for the six-month periods ended June 30, 2020 and 2019 is as follows (in thousands): Six Months Ended June 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 18,664 $ 15,775 Operating cash flows from finance leases 749 65 Financing cash flows from finance leases 344 341 Right-of-use assets obtained in exchange for lease obligations: Operating leases 17,197 526
Supplemental Balance Sheet Information related to Leases	Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at June 30, 2020 and December 31, 2019 is as follows (in thousands, except as noted): June 30, 2020 December 31, 2019 Operating leases: Other assets $ 136,210 $ 133,864 Current operating lease liability 21,808 23,137 Other noncurrent liabilities 116,249 114,686 Total operating lease liabilities 138,057 137,823 Finance leases: Net property, plant and equipment 58,972 59,494 Current portion of long-term debt 592 636 Long-term debt 58,620 58,888 Total finance lease liabilities 59,212 59,524 Weighted average remaining lease term (in years): Operating leases 15.9 11.4 Finance leases 28.0 28.3 Weighted average discount rate (%): Operating leases 4.08 % 3.84 % Finance leases 4.57 % 4.56 %
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities as of June 30, 2020 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2020 $ 16,273 $ 1,092 2021 18,834 2,139 2022 14,675 4,420 2023 13,237 4,420 2024 12,289 4,420 Thereafter 149,131 94,335 Total lease payments 224,439 110,826 Less imputed interest 86,382 51,614 Total $ 138,057 $ 59,212
Finance Lease, Liability, Maturity	Maturities of lease liabilities as of June 30, 2020 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2020 $ 16,273 $ 1,092 2021 18,834 2,139 2022 14,675 4,420 2023 13,237 4,420 2024 12,289 4,420 Thereafter 149,131 94,335 Total lease payments 224,439 110,826 Less imputed interest 86,382 51,614 Total $ 138,057 $ 59,212

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Reportable Segments Summarized Financial Information	Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) (In thousands) Net sales: Lithium $ 283,722 $ 324,758 $ 520,540 $ 616,644 Bromine Specialties 232,779 255,433 464,371 504,485 Catalysts 197,053 266,301 404,260 517,949 All Other 50,495 38,560 113,723 78,038 Total net sales $ 764,049 $ 885,052 $ 1,502,894 $ 1,717,116 Adjusted EBITDA: Lithium $ 94,536 $ 141,779 $ 173,173 $ 257,395 Bromine Specialties 73,041 81,332 156,303 159,929 Catalysts 22,777 66,875 70,247 126,946 All Other 18,598 11,240 41,422 18,483 Corporate (23,759) (39,326) (59,587) (74,986) Total adjusted EBITDA $ 185,193 $ 261,900 $ 381,558 $ 487,767 See below for a reconciliation of adjusted EBITDA, the non-GAAP financial measure, from Net income attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with U.S. GAAP (in thousands): Lithium Bromine Specialties Catalysts Reportable Segments Total All Other Corporate Consolidated Total Three months ended June 30, 2020 Net income (loss) attributable to Albemarle Corporation $ 66,038 $ 60,692 $ 10,702 $ 137,432 $ 16,425 $ (68,233) $ 85,624 Depreciation and amortization 28,498 12,349 12,075 52,922 2,173 2,746 57,841 Restructuring and other (a) — — — — — 6,733 6,733 Acquisition and integration related costs (b) — — — — — 5,470 5,470 Interest and financing expenses — — — — — 17,852 17,852 Income tax expense — — — — — 15,431 15,431 Non-operating pension and OPEB items — — — — — (2,895) (2,895) Other (c) — — — — — (863) (863) Adjusted EBITDA $ 94,536 $ 73,041 $ 22,777 $ 190,354 $ 18,598 $ (23,759) $ 185,193 Three months ended June 30, 2019 Net income (loss) attributable to Albemarle Corporation $ 117,303 $ 69,616 $ 54,124 $ 241,043 $ 9,118 $ (95,963) $ 154,198 Depreciation and amortization 24,365 11,716 12,751 48,832 2,122 1,994 52,948 Restructuring and other (a) — — — — — 4,760 4,760 Acquisition and integration related costs (b) — — — — — 4,990 4,990 Interest and financing expenses — — — — — 11,601 11,601 Income tax expense — — — — — 30,411 30,411 Non-operating pension and OPEB items — — — — — (676) (676) Other (d) 111 — — 111 — 3,557 3,668 Adjusted EBITDA $ 141,779 $ 81,332 $ 66,875 $ 289,986 $ 11,240 $ (39,326) $ 261,900 Six months ended June 30, 2020 Net income (loss) attributable to Albemarle Corporation $ 119,278 $ 132,357 $ 45,594 $ 297,229 $ 37,271 $ (141,672) $ 192,828 Depreciation and amortization 53,895 23,946 24,653 102,494 4,151 4,890 111,535 Restructuring and other (a) — — — — — 8,580 8,580 Acquisition and integration related costs (b) — — — — — 8,426 8,426 Interest and financing expenses — — — — — 34,737 34,737 Income tax expense — — — — — 33,873 33,873 Non-operating pension and OPEB items — — — — — (5,803) (5,803) Other (c) — — — — — (2,618) (2,618) Adjusted EBITDA $ 173,173 $ 156,303 $ 70,247 $ 399,723 $ 41,422 $ (59,587) $ 381,558 Six months ended June 30, 2019 Net income (loss) attributable to Albemarle Corporation $ 210,472 $ 137,096 $ 101,983 $ 449,551 $ 14,324 $ (176,108) $ 287,767 Depreciation and amortization 46,457 22,833 24,963 94,253 4,159 3,819 102,231 Restructuring and other (a) — — — — — 5,290 5,290 Acquisition and integration related costs (b) — — — — — 10,274 10,274 Gain on sale of property (e) — — — — — (11,079) (11,079) Interest and financing expenses — — — — — 24,187 24,187 Income tax expense — — — — — 67,925 67,925 Non-operating pension and OPEB items — — — — — (1,259) (1,259) Other (d) 466 — — 466 — 1,965 2,431 Adjusted EBITDA $ 257,395 $ 159,929 $ 126,946 $ 544,270 $ 18,483 $ (74,986) $ 487,767 (a) Severance expenses as part of a business reorganization plan, primarily within our Lithium business in Germany, as well in our Bromine Specialties business in 2020. During the three months ended June 30, 2020, we recorded expenses of $6.7 million in Selling, general and administrative expenses. During the six months ended June 30, 2020, we recorded expenses of $0.7 million in Cost of goods sold, $8.2 million in Selling, general and administrative expenses and a $0.3 million gain in Net income attributable to noncontrolling interests for the portion of severance expense allocated to our Jordanian joint venture partner. The balance of unpaid severance is recorded in Accrued expenses and is expected to primarily be paid through the first quarter of 2021. During the three and six months ended June 30, 2019, severance expenses of $4.8 million and $5.3 million, respectively, were recorded in Selling, general and administrative expenses as part of a business reorganization plan primarily in Catalysts, Lithium and Corporate. (b) Costs related to the acquisition, integration and potential divestitures for various significant projects, recorded in Selling, general and administrative expenses. (c) Included amounts for the three months ended June 30, 2020 recorded in: ▪ Other (expenses) income, net - $0.9 million net gain primarily relating to the sale of idle properties in Germany. Included amounts for the six months ended June 30, 2020 recorded in: ▪ Other (expenses) income, net - $2.7 million gain resulting from the settlement of a legal matter related to a business sold and $0.8 million net gain primarily relating to the sale of idle properties in Germany, partially offset by a $0.8 million loss resulting from the adjustment of indemnifications related to previously disposed businesses. (d) Included amounts for the three months ended June 30, 2019 recorded in: ▪ Cost of goods sold - $0.1 million related to non-routine labor and compensation related costs in Chile that were outside normal compensation arrangements. ▪ Selling, general and administrative expenses - $1.0 million of shortfall contributions for our multiemployer plan financial improvement plan. ▪ Other (expenses) income, net - $2.5 million of a net loss primarily resulting from the adjustment of indemnifications related to previously disposed businesses. Included amounts for the six months ended June 30, 2019 recorded in: ▪ Cost of goods sold - $0.5 million related to non-routine labor and compensation related costs in Chile that were outside normal compensation arrangements. ▪ Selling, general and administrative expenses - $1.0 million of shortfall contributions for our multiemployer plan financial improvement plan. ▪ Other (expenses) income, net - $0.9 million of a net loss primarily resulting from the adjustment of indemnifications and other liabilities related to previously disposed businesses. (e) Gain recorded in Other (expenses) income, net related to the sale of land in Pasadena, Texas not used as part of our operations.

Pension Plans and Other Postr_2

Pension Plans and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
Domestic and Foreign Pension and Postretirement Defined Benefit Plans	The components of pension and postretirement benefits cost (credit) for the three-month and six-month periods ended June 30, 2020 and 2019 were as follows (in thousands): Three Months Ended Six Months Ended 2020 2019 2020 2019 Pension Benefits Cost (Credit): Service cost $ 1,207 $ 1,123 $ 2,421 $ 2,253 Interest cost 6,666 8,220 13,353 16,540 Expected return on assets (10,028) (9,445) (20,091) (18,897) Amortization of prior service benefit 69 6 18 12 Total net pension benefits credit $ (2,086) $ (96) $ (4,299) $ (92) Postretirement Benefits Cost: Service cost $ 26 $ 25 $ 52 $ 49 Interest cost 467 549 935 1,098 Total net postretirement benefits cost $ 493 $ 574 $ 987 $ 1,147 Total net pension and postretirement benefits (credit) cost $ (1,593) $ 478 $ (3,312) $ 1,055

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Long-Term Debt	The carrying value of our remaining long-term debt reported in the accompanying condensed consolidated balance sheets approximates fair value as substantially all of such debt bears interest based on prevailing variable market rates currently available in the countries in which we have borrowings. June 30, 2020 December 31, 2019 Recorded Fair Value Recorded Fair Value (In thousands) Long-term debt $ 3,555,336 $ 3,541,003 $ 3,069,417 $ 3,173,341
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table summarizes the fair value of our foreign currency forward contracts included in the condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 December 31, 2019 Assets Liabilities Assets Liabilities Designated as hedging instruments (a) $ — $ 1,386 $ 5,369 $ — Not Designated as hedging instruments (b) 47 2,041 2,032 3,613 Total $ 47 $ 3,427 $ 7,401 $ 3,613 (a) Included $0.9 million in Accrued expenses and $0.5 million in Other liabilities at June 30, 2020 and $3.7 million in Other current assets and $1.7 million in Other assets at December 31, 2019. (b) Included less than $0.1 million in Other current assets and $2.0 million in Accrued expenses at June 30, 2020 and $2.0 million in Other current assets and $3.6 million in Accrued expenses at December 31, 2019.
Derivative Instruments, Losses	The following table summarizes the net gains (losses) recognized for our foreign currency forward contracts during the three-month and six-month periods ended June 30, 2020 and 2019 (in thousands): Three Months Ended Six Months Ended 2020 2019 2020 2019 Designated as hedging instruments Gains (losses) recognized in Other comprehensive income $ 37,645 $ — $ (13,815) $ — Not designated as hedging instruments (Losses) gains recognized in Other (expenses) income, net (a) $ (2,849) $ 2,099 $ (8,303) $ (8,316) (a) Fluctuations in the value of our foreign currency forward contracts not designated as hedging instruments are generally expected to be offset by changes in the value of the underlying exposures being hedged, which are also reported in Other (expenses) income, net.

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Accounted for at Fair Value on Recurring Basis	The following tables set forth our financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 Quoted Prices in Active Markets for Identical Items (Level 1) Quoted Prices in Active Markets for Similar Items (Level 2) Unobservable Inputs (Level 3) Assets: Investments under executive deferred compensation plan (a) $ 28,497 $ 28,497 $ — $ — Private equity securities (b) $ 24 $ 24 $ — $ — Private equity securities measured at net asset value (b)(c) $ 4,886 $ — $ — $ — Foreign currency forward contracts (d) $ 47 $ — $ 47 $ — Liabilities: Obligations under executive deferred compensation plan (a) $ 28,497 $ 28,497 $ — $ — Foreign currency forward contracts (d) $ 3,427 $ — $ 3,427 $ — December 31, 2019 Quoted Prices in Active Markets for Identical Items (Level 1) Quoted Prices in Active Markets for Similar Items (Level 2) Unobservable Inputs (Level 3) Assets: Investments under executive deferred compensation plan (a) $ 28,715 $ 28,715 $ — $ — Private equity securities (b) $ 32 $ 32 $ — $ — Private equity securities measured at net asset value (b)(c) $ 4,890 $ — $ — $ — Foreign currency forward contracts (d) $ 7,401 $ — $ 7,401 $ — Liabilities: Obligations under executive deferred compensation plan (a) $ 28,715 $ 28,715 $ — $ — Foreign currency forward contracts (d) $ 3,613 $ — $ 3,613 $ — (a) We maintain an Executive Deferred Compensation Plan (“EDCP”) that was adopted in 2001 and subsequently amended. The purpose of the EDCP is to provide current tax planning opportunities as well as supplemental funds upon the retirement or death of certain of our employees. The EDCP is intended to aid in attracting and retaining employees of exceptional ability by providing them with these benefits. We also maintain a Benefit Protection Trust (the “Trust”) that was created to provide a source of funds to assist in meeting the obligations of the EDCP, subject to the claims of our creditors in the event of our insolvency. Assets of the Trust are consolidated in accordance with authoritative guidance. The assets of the Trust consist primarily of mutual fund investments (which are accounted for as trading securities and are marked-to-market on a monthly basis through the consolidated statements of income) and cash and cash equivalents. As such, these assets and obligations are classified within Level 1. (b) Primarily consists of private equity securities classified as available-for-sale and are reported in Investments in the condensed consolidated balance sheets. The changes in fair value are reported in Other (expenses) income, net, in our consolidated statements of income. (c) Holdings in certain private equity securities are measured at fair value using the net asset value per share (or its equivalent) practical expedient and have not been categorized in the fair value hierarchy. (d) As a result of our global operating and financing activities, we are exposed to market risks from changes in foreign currency exchange rates, which may adversely affect our operating results and financial position. When deemed appropriate, we minimize our risks from foreign currency exchange rate fluctuations through the use of foreign currency forward contracts. The foreign currency forward contracts are valued using broker quotations or market transactions in either the listed or over-the-counter markets. As such, these derivative instruments are classified within Level 2. See Note 13, “Fair Value of Financial Instruments,” for further details about our foreign currency forward contracts.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Components and Activity in Accumulated Other Comprehensive (Loss) Income Net of Deferred Income Taxes	The components and activity in Accumulated other comprehensive (loss) income (net of deferred income taxes) consisted of the following during the periods indicated below (in thousands): Foreign Currency Translation Pension and Post-Retirement Benefits (a) Net Investment Hedge Cash Flow Hedge (b) Interest Rate Swap (c) Total Three months ended June 30, 2020 Balance at March 31, 2020 $ (551,242) $ 482 $ 82,859 $ (46,613) $ (11,975) $ (526,489) Other comprehensive income (loss) before reclassifications 62,847 — (5,756) 37,645 — 94,736 Amounts reclassified from accumulated other comprehensive loss — 8 — — 648 656 Other comprehensive income (loss), net of tax 62,847 8 (5,756) 37,645 648 95,392 Other comprehensive income attributable to noncontrolling interests (34) — — — — (34) Balance at June 30, 2020 $ (488,429) $ 490 $ 77,103 $ (8,968) $ (11,327) $ (431,131) Three months ended June 30, 2019 Balance at March 31, 2019 $ (418,454) $ (152) $ 75,641 $ — $ (14,573) $ (357,538) Other comprehensive income (loss) before reclassifications 10,544 — (3,037) — — 7,507 Amounts reclassified from accumulated other comprehensive loss — 6 — — 641 647 Other comprehensive income (loss), net of tax 10,544 6 (3,037) — 641 8,154 Other comprehensive income attributable to noncontrolling interests (27) — — — — (27) Balance at June 30, 2019 $ (407,937) $ (146) $ 72,604 $ — $ (13,932) $ (349,411) Six months ended June 30, 2020 Balance at December 31, 2019 $ (469,210) $ 473 $ 80,778 $ 4,847 $ (12,623) $ (395,735) Other comprehensive loss before reclassifications (19,139) — (3,675) (13,815) — (36,629) Amounts reclassified from accumulated other comprehensive loss — 17 — — 1,296 1,313 Other comprehensive (loss) income, net of tax (19,139) 17 (3,675) (13,815) 1,296 (35,316) Other comprehensive income attributable to noncontrolling interests (80) — — — — (80) Balance at June 30, 2020 $ (488,429) $ 490 $ 77,103 $ (8,968) $ (11,327) $ (431,131) Six months ended June 30, 2019 Balance at December 31, 2018 $ (407,646) $ (159) $ 72,337 $ — $ (15,214) $ (350,682) Other comprehensive (loss) income before reclassifications (311) — 267 — — (44) Amounts reclassified from accumulated other comprehensive loss — 13 — — 1,282 1,295 Other comprehensive (loss) income, net of tax (311) 13 267 — 1,282 1,251 Other comprehensive loss attributable to noncontrolling interests 20 — — — — 20 Balance at June 30, 2019 $ (407,937) $ (146) $ 72,604 $ — $ (13,932) $ (349,411) (a) The pre-tax portion of amounts reclassified from accumulated other comprehensive loss consists of amortization of prior service benefit, which is a component of pension and postretirement benefits cost (credit). See Note 12, “Pension Plans and Other Postretirement Benefits,” for additional information. (b) We entered into a foreign currency forward contract, which was designated and accounted for as a cash flow hedge under ASC 815, Derivatives and Hedging . See Note 13, “Fair Value of Financial Instruments,” for additional information. (c) The pre-tax portion of amounts reclassified from accumulated other comprehensive loss is included in interest expense.
Amount of Income Tax (Expense) Benefit Allocated to Component Of Other Comprehensive Income (Loss)	The amount of income tax (expense) benefit allocated to each component of Other comprehensive income (loss) for the three-month and six-month periods ended June 30, 2020 and 2019 is provided in the following tables (in thousands): Foreign Currency Translation Pension and Postretirement Benefits Net Investment Hedge Cash Flow Hedge Interest Rate Swap Three months ended June 30, 2020 Other comprehensive income (loss), before tax $ 62,847 $ 9 $ (7,401) $ 37,645 $ 834 Income tax (expense) benefit — (1) 1,645 — (186) Other comprehensive income (loss), net of tax $ 62,847 $ 8 $ (5,756) $ 37,645 $ 648 Three months ended June 30, 2019 Other comprehensive income (loss), before tax $ 10,544 $ 6 $ (3,951) $ — $ 834 Income tax benefit (expense) — — 914 — (193) Other comprehensive income (loss), net of tax $ 10,544 $ 6 $ (3,037) $ — $ 641 Six months ended June 30, 2020 Other comprehensive (loss) income, before tax $ (19,142) $ 18 $ (4,726) $ (13,815) $ 1,668 Income tax benefit (expense) 3 (1) 1,051 — (372) Other comprehensive (loss) income, net of tax $ (19,139) $ 17 $ (3,675) $ (13,815) $ 1,296 Six months ended June 30, 2019 Other comprehensive (loss) income, before tax $ (310) $ 13 $ 348 $ — $ 1,668 Income tax (expense) benefit (1) — (81) — (386) Other comprehensive (loss) income, net of tax $ (311) $ 13 $ 267 $ — $ 1,282

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Our consolidated statements of income include sales to and purchases from unconsolidated affiliates in the ordinary course of business as follows (in thousands): Three Months Ended Six Months Ended 2020 2019 2020 2019 Sales to unconsolidated affiliates $ 5,281 $ 5,372 $ 12,498 $ 9,663 Purchases from unconsolidated affiliates (a) $ 55,149 $ 55,617 $ 131,624 $ 119,116 (a) Purchases from unconsolidated affiliates primarily relate to purchases from our Windfield joint venture. Our condensed consolidated balance sheets include accounts receivable due from and payable to unconsolidated affiliates in the ordinary course of business as follows (in thousands): June 30, 2020 December 31, 2019 Receivables from unconsolidated affiliates $ 4,454 $ 7,163 Payables to unconsolidated affiliates $ 30,368 $ 35,502

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2020
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental information related to the condensed consolidated statements of cash flows is as follows (in thousands): Six Months Ended 2020 2019 Supplemental non-cash disclosure related to investing activities: Capital expenditures included in Accounts payable $ 180,707 $ 170,776

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold	$ 530,690		$ 559,138	$ 1,027,517	$ 1,107,716
Income before income taxes and equity in net income of unconsolidated investments	88,075		$ 167,071	$ 203,548	$ 320,930
Out-of-period adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold	$ 9,800
Income before income taxes and equity in net income of unconsolidated investments		$ (10,300)				$ 500

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Jun. 30, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 1,571,280	$ 1,578,785
Mineral Resources Limited Wodgina Project
Business Acquisition [Line Items]
Cash payments related to joint venture		820,000
Consideration transferred	$ 1,300,000	1,322,566
Cash payments related to joint venture, certain adjustments		22,566
Inventories		33,900
Other current assets		11,280
Current liabilities		(10,695)
Long-term debt		(55,806)
Other noncurrent liabilities		(23,296)
Other noncurrent liabilities		1,303,771
Goodwill		18,795
Total net assets acquired		1,322,566
Ownership percentage	60.00%
Lithium Hydroxide Conversion Assets
Business Acquisition [Line Items]
Ownership percentage	40.00%
Lithium Hydroxide Conversion Assets | Mineral Resources Limited Wodgina Project
Business Acquisition [Line Items]
Consideration transferred		480,000
Land improvements | Mineral Resources Limited Wodgina Project
Business Acquisition [Line Items]
Property, plant and equipment		2,912
Building and improvements | Mineral Resources Limited Wodgina Project
Business Acquisition [Line Items]
Property, plant and equipment		19,268
Machinery and equipment | Mineral Resources Limited Wodgina Project
Business Acquisition [Line Items]
Property, plant and equipment		163,808
Mineral rights and reserves | Mineral Resources Limited Wodgina Project
Business Acquisition [Line Items]
Property, plant and equipment		1,058,700
Construction in progress | Mineral Resources Limited Wodgina Project
Business Acquisition [Line Items]
Property, plant and equipment		$ 103,700

Acquisitions - Additional Detai

Acquisitions - Additional Details (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Business Acquisition [Line Items]
Purchase price adjustments				$ (22,572)	$ 0
Acquisition and integration related costs		$ 5,470	$ 4,990	8,426	10,274
Net loss attributable to joint venture		85,624	154,198	192,828	287,767
Net sales		764,049	$ 885,052	1,502,894	$ 1,717,116
Goodwill		1,571,280		1,571,280		$ 1,578,785
Mineral Resources Limited Wodgina Project
Business Acquisition [Line Items]
Ownership percentage	60.00%
Consideration transferred	$ 1,300,000			1,322,566
Cash payments related to joint venture				820,000
Purchase price adjustments				(22,600)
Net loss attributable to joint venture		(5,200)		(9,900)
Net sales				0
Goodwill		18,795		18,795
Purchase price allocation adjustments		13,000		13,000
Mineral Resources Limited Wodgina Project | Stamp Duty Tax
Business Acquisition [Line Items]
Acquisition and integration related costs		61,500
Wodgina Lithium Operations Pty. Ltd.
Business Acquisition [Line Items]
Ownership percentage	60.00%
Lithium Hydroxide Conversion Assets
Business Acquisition [Line Items]
Ownership percentage	40.00%
Lithium Hydroxide Conversion Assets | Mineral Resources Limited Wodgina Project
Business Acquisition [Line Items]
Consideration transferred				480,000
Mineral Reserves | Mineral Resources Limited Wodgina Project
Business Acquisition [Line Items]
Fair value of mineral reserves		1,025,900		1,025,900
Selling, general and administrative expenses | Mineral Resources Limited Wodgina Project
Business Acquisition [Line Items]
Acquisition and integration related costs		$ 400		$ 800

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Changes in Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,578,785
Foreign currency translation adjustments and other	5,462
Balance at end of period	1,571,280
Reportable Segments | Lithium
Goodwill [Roll Forward]
Balance at beginning of period	1,370,846
Foreign currency translation adjustments and other	4,917
Balance at end of period	1,362,796
Reportable Segments | Bromine Specialties
Goodwill [Roll Forward]
Balance at beginning of period	20,319
Foreign currency translation adjustments and other	0
Balance at end of period	20,319
Reportable Segments | Catalysts
Goodwill [Roll Forward]
Balance at beginning of period	181,034
Foreign currency translation adjustments and other	545
Balance at end of period	181,579
Reportable Segments | All Other
Goodwill [Roll Forward]
Balance at beginning of period	6,586
Foreign currency translation adjustments and other	0
Balance at end of period	6,586
Mineral Resources Limited Wodgina Project
Goodwill [Roll Forward]
Acquisitions	(12,967)
Balance at end of period	18,795
Mineral Resources Limited Wodgina Project | Reportable Segments | Lithium
Goodwill [Roll Forward]
Acquisitions	(12,967)
Mineral Resources Limited Wodgina Project | Reportable Segments | Bromine Specialties
Goodwill [Roll Forward]
Acquisitions	0
Mineral Resources Limited Wodgina Project | Reportable Segments | Catalysts
Goodwill [Roll Forward]
Acquisitions	0
Mineral Resources Limited Wodgina Project | Reportable Segments | All Other
Goodwill [Roll Forward]
Acquisitions	$ 0

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Other Intangibles (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	$ 536,851
Foreign currency translation adjustments and other	1,350
Gross Asset Value, End of Period	538,201
Accumulated Amortization, Beginning of Period	(182,229)
Amortization	(12,216)
Foreign currency translation adjustments and other	(917)
Accumulated Amortization, End of Period	(195,362)
Net Book Value	342,839	$ 354,622
Customer lists and relationships
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	422,462
Foreign currency translation adjustments and other	3,202
Gross Asset Value, End of Period	425,664
Accumulated Amortization, Beginning of Period	(116,749)
Amortization	(11,076)
Foreign currency translation adjustments and other	(956)
Accumulated Amortization, End of Period	(128,781)
Net Book Value	296,883	305,713
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	18,087
Foreign currency translation adjustments and other	(204)
Gross Asset Value, End of Period	17,883
Accumulated Amortization, Beginning of Period	(7,938)
Amortization	0
Foreign currency translation adjustments and other	(25)
Accumulated Amortization, End of Period	(7,963)
Net Book Value	9,920	10,149
Patents and technology
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	55,020
Foreign currency translation adjustments and other	39
Gross Asset Value, End of Period	55,059
Accumulated Amortization, Beginning of Period	(36,197)
Amortization	(678)
Foreign currency translation adjustments and other	(215)
Accumulated Amortization, End of Period	(37,090)
Net Book Value	17,969	18,823
Other
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	41,282
Foreign currency translation adjustments and other	(1,687)
Gross Asset Value, End of Period	39,595
Accumulated Amortization, Beginning of Period	(21,345)
Amortization	(462)
Foreign currency translation adjustments and other	279
Accumulated Amortization, End of Period	(21,528)
Net Book Value	$ 18,067	$ 19,937

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Other Tax Expense (Benefit) [Line Items]
Effective income tax rate	17.50%	18.20%	16.60%	21.20%

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted Earnings Per Share From Continuing Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Basic earnings per share from continuing operations
Net income attributable to Albemarle Corporation	$ 85,624	$ 154,198	$ 192,828	$ 287,767
Weighted-average common shares for basic earnings per share (in shares)	106,329	105,961	106,278	105,880
Basic earnings per share (in dollars per share)	$ 0.81	$ 1.46	$ 1.81	$ 2.72
Diluted earnings per share from continuing operations
Net income attributable to Albemarle Corporation	$ 85,624	$ 154,198	$ 192,828	$ 287,767
Weighted-average common shares for basic earnings per share (in shares)	106,329	105,961	106,278	105,880
Incremental shares under stock compensation plans (in shares)	206	355	246	456
Weighted-average common shares outstanding - diluted (in shares)	106,535	106,316	106,524	106,336
Diluted earnings per share (in dollars per share)	$ 0.80	$ 1.45	$ 1.81	$ 2.71

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - $ / shares	6 Months Ended
	Jun. 30, 2020	Jul. 14, 2020	May 05, 2020	Feb. 28, 2020
Earnings Per Share Disclosure [Line Items]
Increase in dividend rate, percentage				5.00%
Cash dividend, amount per share (in dollars per share)			$ 0.385	$ 0.385
Subsequent Event
Earnings Per Share Disclosure [Line Items]
Cash dividend, amount per share (in dollars per share)		$ 0.385
Common Stock
Earnings Per Share Disclosure [Line Items]
Antidilutive securities excluded from computation of earnings per share	261,042

Inventories - Breakdown of inve

Inventories - Breakdown of inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 538,192	$ 495,639
Raw materials and work in process	239,207	205,781
Stores, supplies and other	73,857	67,564
Total inventories	$ 851,256	$ 768,984

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Lithium
Inventory [Line Items]
Work in process related to Lithium	$ 120.4	$ 109.3

Investments (Details)

Investments (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Windfield Holdings
Schedule of Investments [Line Items]
Equity method investment, ownership percentage	49.00%
Carrying value of unconsolidated investment	$ 440.8	$ 397.2
Other variable interest entities
Schedule of Investments [Line Items]
Carrying value of unconsolidated investment	$ 7.4	$ 7.6

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total long-term Debt	$ 3,538,392	$ 3,050,257
Current portion of long-term debt	406,201	187,336
Long-term debt	$ 3,132,191	2,862,921
1.875% Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.875%
Unsecured debt | 1.125% Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 556,697	$ 549,241
Debt instrument, interest rate	1.125%	1.125%
Unamortized discount and debt issuance costs	$ 4,203	$ 5,659
Unsecured debt | 1.625% Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 555,053	$ 549,204
Debt instrument, interest rate	1.625%	1.625%
Unamortized discount and debt issuance costs	$ 5,847	$ 5,696
Unsecured debt | Floating Rate Notes
Debt Instrument [Line Items]
Total long-term Debt	199,098	198,831
Unamortized debt issuance costs	902	1,169
Senior notes | 1.875% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 439,415	$ 434,241
Debt instrument, interest rate	1.875%	1.875%
Unamortized discount and debt issuance costs	$ 1,372	$ 1,831
Senior notes | 3.45% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 296,772	$ 296,467
Debt instrument, interest rate	3.45%	3.45%
Unamortized discount and debt issuance costs	$ 3,228	$ 3,533
Senior notes | 4.15% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 422,846	$ 422,603
Debt instrument, interest rate	4.15%	4.15%
Unamortized discount and debt issuance costs	$ 2,154	$ 2,398
Senior notes | 5.45% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 346,228	$ 346,150
Debt instrument, interest rate	5.45%	5.45%
Unamortized discount and debt issuance costs	$ 3,772	$ 3,850
Credit facilities
Debt Instrument [Line Items]
Total long-term Debt	455,609	0
Commercial paper notes
Debt Instrument [Line Items]
Total long-term Debt	200,000	186,700
Variable-rate foreign bank loans
Debt Instrument [Line Items]
Total long-term Debt	7,462	7,296
Finance lease obligations
Debt Instrument [Line Items]
Total long-term Debt	$ 59,212	$ 59,524

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) $ in Thousands	1 Months Ended	3 Months Ended				6 Months Ended		15 Months Ended
	Apr. 30, 2020USD ($)	Dec. 31, 2021	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Sep. 30, 2021
Debt Instrument [Line Items]
Proceeds from borrowings of credit agreements						$ 452,163	$ 0
Repayments of commercial paper notes						12,956	183,052
Net investment hedge (losses) gains			$ (5,756)		$ (3,037)	$ (3,675)	$ 267
Commercial paper notes
Debt Instrument [Line Items]
Weighted average interest rate			1.13%			1.13%
Debt instrument maturity period						17 days
1.875% Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate			1.875%			1.875%
2018 Credit Agreement
Debt Instrument [Line Items]
Proceeds from borrowings of credit agreements				$ 250,000
Interest rate on amount borrowed						1.30%
2019 Credit Agreement
Debt Instrument [Line Items]
Proceeds from borrowings of credit agreements	$ 200,000
Interest rate on amount borrowed	1.125%
Credit facilities
Debt Instrument [Line Items]
Debt covenant ratio, maximum debt to EBITDA			4
Priority debt basket			0.24			0.24
Basis point fee			0.0010			0.0010
Credit facilities | Forecast
Debt Instrument [Line Items]
Debt covenant ratio, maximum debt to EBITDA		4						4.50
Commercial paper notes
Debt Instrument [Line Items]
Repayments of commercial paper notes				$ 152,000

Commitments and Contingencies -

Commitments and Contingencies - Activity in Recorded Environmental Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at beginning of period	$ 42,592
Expenditures	(2,364)
Accretion of discount	413
Foreign currency translation adjustments and other	139
Balance at end of period	$ 42,592	$ 40,780
Less amounts reported in Accrued expenses		9,381
Amounts reported in Other noncurrent liabilities		$ 31,399

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Environmental remediation liabilities - discounted	$ 34.1	$ 35.6
Accrual for environmental loss contingencies - weighted-average discount rate	3.70%	3.70%
Environmental remediation liabilities - undiscounted	$ 67.8	$ 69.2
Minimum
Loss Contingencies [Line Items]
Potential revision on future environmental remediation costs before tax	10
Maximum
Loss Contingencies [Line Items]
Potential revision on future environmental remediation costs before tax	30
Other noncurrent liabilities
Loss Contingencies [Line Items]
Tax Indemnification Liability	$ 31.9	$ 31

Leases - Additional Information

Leases - Additional Information (Details)	Jun. 30, 2020
Minimum
Lessee, Lease, Description [Line Items]
Lease renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease renewal term	50 years
Real estate | Minimum
Lessee, Lease, Description [Line Items]
Lease term of contract	1 year
Real estate | Maximum
Lessee, Lease, Description [Line Items]
Lease term of contract	30 years
Non-real estate | Minimum
Lessee, Lease, Description [Line Items]
Lease term of contract	2 years
Non-real estate | Maximum
Lessee, Lease, Description [Line Items]
Lease term of contract	15 years

Leases - Leases Cost (Details)

Leases - Leases Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 8,473	$ 8,381	$ 17,213	$ 17,802
Amortization of right of use assets	153	136	307	314
Interest on lease liabilities	630	32	1,280	65
Total finance lease cost	783	168	1,587	379
Short-term lease cost	3,514	1,869	6,397	3,835
Variable lease cost	2,084	1,432	4,032	2,518
Total lease cost	$ 14,854	$ 11,850	$ 29,229	$ 24,534

Leases - Leases Cash Flow (Deta

Leases - Leases Cash Flow (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 18,664	$ 15,775
Operating cash flows from finance leases	749	65
Financing cash flows from finance leases	344	341
Right-of-use asset obtained in exchange for operating leases	$ 17,197	$ 526

Leases - Leases Balance Sheet (

Leases - Leases Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Other assets	$ 136,210	$ 133,864
Current operating lease liability	21,808	23,137
Other noncurrent liabilities	116,249	114,686
Total operating lease liabilities	138,057	137,823
Net property, plant and equipment	58,972	59,494
Current portion of long-term debt	592	636
Long-term debt	58,620	58,888
Total finance lease liabilities	$ 59,212	$ 59,524
Weighted average remaining lease term, operating leases	15 years 10 months 24 days	11 years 4 months 24 days
Weighted average remaining lease term, finance leases	28 years	28 years 3 months 18 days
Weighted average discount rate, operating leases, percent	4.08%	3.84%
Weighted average discount rate, finance leases, percent	4.57%	4.56%

Leases - Leases Maturity Table

Leases - Leases Maturity Table (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Operating Leases
Operating lease liability payments due remainder of fiscal year	$ 16,273
Operating lease liability payments due year two	18,834
Operating lease liability payments due year three	14,675
Operating lease liability payments due year four	13,237
Operating lease liability payments due year five	12,289
Operating lease liability payments due after year five	149,131
Total operating lease liability payments	224,439
Imputed interest operating leases	86,382
Total operating lease liabilities	138,057	$ 137,823
Finance Leases
Finance lease liability payments remainder of fiscal year	1,092
Finance lease liability payments due year two	2,139
Finance lease liability payments due year three	4,420
Finance lease liability payments due year four	4,420
Finance lease liability payments due year five	4,420
Finance lease liability payments due after year five	94,335
Total finance lease liability payments	110,826
Imputed interest finance leases	51,614
Total finance lease liabilities	$ 59,212	$ 59,524

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Information - Summarize

Segment Information - Summarized Financial Information by Reportable Segments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Net sales	$ 764,049,000	$ 885,052,000	$ 1,502,894,000	$ 1,717,116,000
Adjusted EBITDA	185,193,000	261,900,000	381,558,000	487,767,000
Net income attributable to Albemarle Corporation	85,624,000	154,198,000	192,828,000	287,767,000
Depreciation and amortization	57,841,000	52,948,000	111,535,000	102,231,000
Restructuring and other	6,733,000	4,760,000	8,580,000	5,290,000
Acquisition and integration related costs	5,470,000	4,990,000	8,426,000	10,274,000
Gain on sale of property			0	(11,079,000)
Interest and financing expenses	17,852,000	11,601,000	34,737,000	24,187,000
Income tax expense	15,431,000	30,411,000	33,873,000	67,925,000
Non-operating pension and OPEB items	(2,895,000)	(676,000)	(5,803,000)	(1,259,000)
Other	(863,000)	3,668,000	(2,618,000)	2,431,000
All Other
Segment Reporting Information [Line Items]
Net sales	50,495,000	38,560,000	113,723,000	78,038,000
Adjusted EBITDA	18,598,000	11,240,000	41,422,000	18,483,000
Net income attributable to Albemarle Corporation	16,425,000	9,118,000	37,271,000	14,324,000
Depreciation and amortization	2,173,000	2,122,000	4,151,000	4,159,000
Restructuring and other	0	0	0	0
Acquisition and integration related costs	0	0	0	0
Gain on sale of property				0
Interest and financing expenses	0	0	0	0
Income tax expense	0	0	0	0
Non-operating pension and OPEB items	0	0	0	0
Other	0	0	0	0
Reportable Segments | Lithium
Segment Reporting Information [Line Items]
Net sales	283,722,000	324,758,000	520,540,000	616,644,000
Adjusted EBITDA	94,536,000	141,779,000	173,173,000	257,395,000
Net income attributable to Albemarle Corporation	66,038,000	117,303,000	119,278,000	210,472,000
Depreciation and amortization	28,498,000	24,365,000	53,895,000	46,457,000
Restructuring and other	0	0	0	0
Acquisition and integration related costs	0	0	0	0
Gain on sale of property				0
Interest and financing expenses	0	0	0	0
Income tax expense	0	0	0	0
Non-operating pension and OPEB items	0	0	0	0
Other	0	111,000	0	466,000
Reportable Segments | Bromine Specialties
Segment Reporting Information [Line Items]
Net sales	232,779,000	255,433,000	464,371,000	504,485,000
Adjusted EBITDA	73,041,000	81,332,000	156,303,000	159,929,000
Net income attributable to Albemarle Corporation	60,692,000	69,616,000	132,357,000	137,096,000
Depreciation and amortization	12,349,000	11,716,000	23,946,000	22,833,000
Restructuring and other	0	0	0	0
Acquisition and integration related costs	0	0	0	0
Gain on sale of property				0
Interest and financing expenses	0	0	0	0
Income tax expense	0	0	0	0
Non-operating pension and OPEB items	0	0	0	0
Other	0	0	0	0
Reportable Segments | Catalysts
Segment Reporting Information [Line Items]
Net sales	197,053,000	266,301,000	404,260,000	517,949,000
Adjusted EBITDA	22,777,000	66,875,000	70,247,000	126,946,000
Net income attributable to Albemarle Corporation	10,702,000	54,124,000	45,594,000	101,983,000
Depreciation and amortization	12,075,000	12,751,000	24,653,000	24,963,000
Restructuring and other	0	0	0	0
Acquisition and integration related costs	0	0	0	0
Gain on sale of property				0
Interest and financing expenses	0	0	0	0
Income tax expense	0	0	0	0
Non-operating pension and OPEB items	0	0	0	0
Other	0	0	0	0
Reportable Segments | Reportable Segments Total
Segment Reporting Information [Line Items]
Adjusted EBITDA	190,354,000	289,986,000	399,723,000	544,270,000
Net income attributable to Albemarle Corporation	137,432,000	241,043,000	297,229,000	449,551,000
Depreciation and amortization	52,922,000	48,832,000	102,494,000	94,253,000
Restructuring and other	0	0	0	0
Acquisition and integration related costs	0	0	0	0
Gain on sale of property				0
Interest and financing expenses	0	0	0	0
Income tax expense	0	0	0	0
Non-operating pension and OPEB items	0	0	0	0
Other	0	111,000	0	466,000
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA	(23,759,000)	(39,326,000)	(59,587,000)	(74,986,000)
Net income attributable to Albemarle Corporation	(68,233,000)	(95,963,000)	(141,672,000)	(176,108,000)
Depreciation and amortization	2,746,000	1,994,000	4,890,000	3,819,000
Restructuring and other	6,733,000	4,760,000	8,580,000	5,290,000
Acquisition and integration related costs	5,470,000	4,990,000	8,426,000	10,274,000
Gain on sale of property				(11,079,000)
Interest and financing expenses	17,852,000	11,601,000	34,737,000	24,187,000
Income tax expense	15,431,000	30,411,000	33,873,000	67,925,000
Non-operating pension and OPEB items	(2,895,000)	(676,000)	(5,803,000)	(1,259,000)
Other	$ (863,000)	$ 3,557,000	$ (2,618,000)	$ 1,965,000

Segment Information - Summari_2

Segment Information - Summarized Financial Information by Reportable Segments (Footnote) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Restructuring and other	$ 6,733	$ 4,760	$ 8,580	$ 5,290
Gain on sale of idle properties			0	11,079
Cost of goods sold
Segment Reporting Information [Line Items]
Restructuring and other			700
Non-routine Chilean labor costs		100		500
Selling, general and administrative expenses
Segment Reporting Information [Line Items]
Restructuring and other	6,700	4,800	8,200	5,300
Selling, general and administrative expenses | Financial Improvement Plan [Member]
Segment Reporting Information [Line Items]
Multiemployer plan, period contributions		1,000		1,000
Non-controlling Interests
Segment Reporting Information [Line Items]
Restructuring and other			300
Other (expenses) income, net
Segment Reporting Information [Line Items]
Gain on sale of idle properties	$ 900		800
Settlement of a legal claim			2,700
Revision of tax indemnification expense		$ 2,500	$ 800	$ 900

Pension Plans and Other Postr_3

Pension Plans and Other Postretirement Benefits - Domestic and Foreign Pension and Postretirement Defined Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Total net pension and postretirement benefits (credit) cost	$ (1,593)	$ 478	$ (3,312)	$ 1,055
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,207	1,123	2,421	2,253
Interest cost	6,666	8,220	13,353	16,540
Expected return on assets	(10,028)	(9,445)	(20,091)	(18,897)
Amortization of prior service benefit	69	6	18	12
Total net pension and postretirement benefits (credit) cost	(2,086)	(96)	(4,299)	(92)
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	26	25	52	49
Interest cost	467	549	935	1,098
Total net pension and postretirement benefits (credit) cost	$ 493	$ 574	$ 987	$ 1,147

Pension Plans and Other Postr_4

Pension Plans and Other Postretirement Benefits - Pension and Postretirement Plan Contributions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Retirement Benefits [Abstract]
Employer contributions	$ 2.1	$ 3.8	$ 5.2	$ 6.5
Payment for other postretirement benefits	$ 0.8	$ 0.4	$ 1.5	$ 1.3

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Value of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Total long-term debt, excluding debt issuance costs	$ 3,555,336	$ 3,069,417
Total long-term debt, fair value, excluding debt issuance costs	$ 3,541,003	$ 3,173,341

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Details) $ in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2019AUD ($)
Fair Value, Option, Quantitative Disclosures [Line Items]
Foreign currency forward contracts, assets	$ 47		$ 47		$ 7,401
Foreign currency forward contracts, liabilities	3,427		3,427		3,613
Recognized gains (losses) of foreign currency forward contracts designated as hedging instruments	37,645	$ 0	(13,815)	$ 0
Forward contracts | Other, net
Fair Value, Option, Quantitative Disclosures [Line Items]
Cash settlements			(19,500)	(7,800)
Designated as Hedging Instrument | Forward contracts
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, notional amount	282,000		282,000		481,200	$ 727.9
Fair value foreign currency forward contracts designated as hedging instruments, asset	0		0		5,369
Fair value foreign currency forward contracts designated as hedging instruments, liabilities	1,386		1,386		0
Recognized gains (losses) of foreign currency forward contracts designated as hedging instruments	37,645	0	(13,815)	0
Designated as Hedging Instrument | Forward contracts | Accrued expenses
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts designated as hedging instruments, liabilities	900		900
Designated as Hedging Instrument | Forward contracts | Other liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts designated as hedging instruments, liabilities	500		500
Designated as Hedging Instrument | Forward contracts | Other current assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts designated as hedging instruments, asset					3,700
Designated as Hedging Instrument | Forward contracts | Other assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts designated as hedging instruments, asset					1,700
Not Designated as Hedging Instrument | Forward contracts
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, notional amount	853,600		853,600		1,150,000
Fair value foreign currency forward contracts not designated as hedging instruments, asset	47		47		2,032
Fair value foreign currency forward contracts not designated as hedging instruments, liabilities	2,041		2,041		3,613
Not Designated as Hedging Instrument | Forward contracts | Accrued expenses
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts not designated as hedging instruments, liabilities	2,000		2,000		3,600
Not Designated as Hedging Instrument | Forward contracts | Other current assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts not designated as hedging instruments, asset	100		100		$ 2,000
Not Designated as Hedging Instrument | Forward contracts | Other (expenses) income, net
Fair Value, Option, Quantitative Disclosures [Line Items]
Recognized (losses) gains of foreign currency forward contracts not designated as hedging instruments	$ (2,849)	$ 2,099	$ (8,303)	$ (8,316)

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments under executive deferred compensation plan	$ 28,497	$ 28,715
Private equity securities	24	32
Private equity securities measured at net asset value	4,886	4,890
Foreign currency forward contracts, assets	47	7,401
Obligations under executive deferred compensation plan	28,497	28,715
Foreign currency forward contracts, liabilities	3,427	3,613
Quoted Prices in Active Markets for Identical Items (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments under executive deferred compensation plan	28,497	28,715
Private equity securities	24	32
Foreign currency forward contracts, assets	0	0
Obligations under executive deferred compensation plan	28,497	28,715
Foreign currency forward contracts, liabilities	0	0
Quoted Prices in Active Markets for Similar Items (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments under executive deferred compensation plan	0	0
Private equity securities	0	0
Foreign currency forward contracts, assets	47	7,401
Obligations under executive deferred compensation plan	0	0
Foreign currency forward contracts, liabilities	3,427	3,613
Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments under executive deferred compensation plan	0	0
Private equity securities	0	0
Foreign currency forward contracts, assets	0	0
Obligations under executive deferred compensation plan	0	0
Foreign currency forward contracts, liabilities	$ 0	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income - Components and Activity in Accumulated Other Comprehensive (Loss) Income Net of Deferred Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	$ 4,041,525	$ 3,864,039	$ 4,093,580	$ 3,759,108
Other comprehensive income (loss), before reclassifications	94,736	7,507	(36,629)	(44)
Amounts reclassified from accumulated other comprehensive loss	656	647	1,313	1,295
Total other comprehensive income (loss), net of tax	95,392	8,154	(35,316)	1,251
Other comprehensive (income) loss attributable to noncontrolling interests	(34)	(27)	(80)	20
Ending Balance	4,206,161	3,974,403	4,206,161	3,974,403
Foreign Currency Translation
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(551,242)	(418,454)	(469,210)	(407,646)
Other comprehensive income (loss), before reclassifications	62,847	10,544	(19,139)	(311)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total other comprehensive income (loss), net of tax	62,847	10,544	(19,139)	(311)
Other comprehensive (income) loss attributable to noncontrolling interests	(34)	(27)	(80)	20
Ending Balance	(488,429)	(407,937)	(488,429)	(407,937)
Pension and Postretirement Benefits
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	482	(152)	473	(159)
Other comprehensive income (loss), before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss	8	6	17	13
Total other comprehensive income (loss), net of tax	8	6	17	13
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	490	(146)	490	(146)
Net Investment Hedge
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	82,859	75,641	80,778	72,337
Other comprehensive income (loss), before reclassifications	(5,756)	(3,037)	(3,675)	267
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total other comprehensive income (loss), net of tax	(5,756)	(3,037)	(3,675)	267
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	77,103	72,604	77,103	72,604
Cash Flow Hedge
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(46,613)	0	4,847	0
Other comprehensive income (loss), before reclassifications	37,645	0	(13,815)	0
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total other comprehensive income (loss), net of tax	37,645	0	(13,815)	0
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	(8,968)	0	(8,968)	0
Interest Rate Swap
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(11,975)	(14,573)	(12,623)	(15,214)
Other comprehensive income (loss), before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss	648	641	1,296	1,282
Total other comprehensive income (loss), net of tax	648	641	1,296	1,282
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	(11,327)	(13,932)	(11,327)	(13,932)
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(526,489)	(357,538)	(395,735)	(350,682)
Total other comprehensive income (loss), net of tax	95,358	8,127	(35,396)	1,271
Ending Balance	$ (431,131)	$ (349,411)	$ (431,131)	$ (349,411)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive (Loss) Income - Amount of Income Tax Benefit (Expense) Allocated to Component of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accumulated Other Comprehensive (Loss) Income [Line Items]
Total other comprehensive income (loss), net of tax	$ 95,392	$ 8,154	$ (35,316)	$ 1,251
Foreign Currency Translation
Equity [Abstract]
Other comprehensive income (loss), before tax	62,847	10,544	(19,142)	(310)
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	62,847	10,544	(19,142)	(310)
Income tax benefit (expense)	0	0	3	(1)
Total other comprehensive income (loss), net of tax	62,847	10,544	(19,139)	(311)
Pension and Postretirement Benefits
Equity [Abstract]
Other comprehensive income (loss), before tax	9	6	18	13
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	9	6	18	13
Income tax benefit (expense)	(1)	0	(1)	0
Total other comprehensive income (loss), net of tax	8	6	17	13
Net Investment Hedge
Equity [Abstract]
Other comprehensive income (loss), before tax	(7,401)	(3,951)	(4,726)	348
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	(7,401)	(3,951)	(4,726)	348
Income tax benefit (expense)	1,645	914	1,051	(81)
Total other comprehensive income (loss), net of tax	(5,756)	(3,037)	(3,675)	267
Cash Flow Hedge
Equity [Abstract]
Other comprehensive income (loss), before tax	37,645	0	(13,815)	0
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	37,645	0	(13,815)	0
Income tax benefit (expense)	0	0	0	0
Total other comprehensive income (loss), net of tax	37,645	0	(13,815)	0
Interest Rate Swap
Equity [Abstract]
Other comprehensive income (loss), before tax	834	834	1,668	1,668
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	834	834	1,668	1,668
Income tax benefit (expense)	(186)	(193)	(372)	(386)
Total other comprehensive income (loss), net of tax	$ 648	$ 641	$ 1,296	$ 1,282

Related Party Transactions (Det

Related Party Transactions (Details) - Unconsolidated Affiliates - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Sales to unconsolidated affiliates	$ 5,281	$ 5,372	$ 12,498	$ 9,663
Purchases from unconsolidated affiliates	55,149	$ 55,617	131,624	$ 119,116
Receivables from unconsolidated affiliates	4,454		4,454		$ 7,163
Payables to unconsolidated affiliates	$ 30,368		$ 30,368		$ 35,502

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of supplemental information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Supplemental Cash Flow Information [Abstract]
Capital expenditures included in Accounts payable	$ 180,707	$ 170,776

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Additional Information (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020
Cash Flow Supplemental Disclosures [Line Items]
Capital expenditures		$ 418,991	$ 415,626
Tax Cuts Jobs Act Of 2017, Transition Tax For Accumulated Foreign Earnings, Liability, Current		30,400	$ 14,400	$ 30,400
Mineral Resources Limited Wodgina Project
Cash Flow Supplemental Disclosures [Line Items]
Ownership percentage	60.00%
Consideration transferred	$ 1,300,000	1,322,566
Lithium Hydroxide Conversion Assets
Cash Flow Supplemental Disclosures [Line Items]
Ownership percentage	40.00%
Lithium Hydroxide Conversion Assets | Mineral Resources Limited Wodgina Project
Cash Flow Supplemental Disclosures [Line Items]
Capital expenditures		87,800		$ 252,500
Consideration transferred		$ 480,000