Albemarle (ALB) 10-Q 4 Nov 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2020	Oct. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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		106,457,193
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000915913
Current Fiscal Year End Date	--12-31

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net sales	$ 746,868	$ 879,747	$ 2,249,762	$ 2,596,863
Cost of goods sold	492,812	569,880	1,520,329	1,677,596
Gross profit	254,056	309,867	729,433	919,267
Selling, general and administrative expenses	96,092	108,135	304,918	348,205
Research and development expenses	13,532	15,585	43,839	44,024
Operating profit	144,432	186,147	380,676	527,038
Interest and financing expenses	(19,227)	(11,108)	(53,964)	(35,295)
Other expenses, net	(3,661)	(11,316)	(1,620)	(7,090)
Income before income taxes and equity in net income of unconsolidated investments	121,544	163,723	325,092	484,653
Income tax expense	30,653	25,341	64,526	93,266
Income before equity in net income of unconsolidated investments	90,891	138,382	260,566	391,387
Equity in net income of unconsolidated investments (net of tax)	26,154	33,236	83,872	106,727
Net income	117,045	171,618	344,438	498,114
Net income attributable to noncontrolling interests	(18,744)	(16,548)	(53,309)	(55,277)
Net income attributable to Albemarle Corporation	$ 98,301	$ 155,070	$ 291,129	$ 442,837
Basic earnings per share (in dollars per share)	$ 0.92	$ 1.46	$ 2.74	$ 4.18
Diluted earnings per share (in dollars per share)	$ 0.92	$ 1.46	$ 2.73	$ 4.16
Weighted-average common shares outstanding - basic (in shares)	106,386	105,999	106,314	105,920
Weighted-average common shares outstanding - diluted (in shares)	106,873	106,299	106,640	106,324

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 117,045	$ 171,618	$ 344,438	$ 498,114
Other comprehensive income (loss), net of tax:
Foreign currency translation	37,489	(100,069)	18,350	(100,380)
Pension and postretirement benefits	10	(5)	27	8
Net investment hedge	(12,408)	12,745	(16,083)	13,012
Cash flow hedge	6,993	0	(6,822)	0
Interest rate swap	647	641	1,943	1,923
Total other comprehensive income (loss), net of tax	32,731	(86,688)	(2,585)	(85,437)
Comprehensive income	149,776	84,930	341,853	412,677
Comprehensive income attributable to noncontrolling interests	(18,811)	(16,426)	(53,456)	(55,135)
Comprehensive income attributable to Albemarle Corporation	$ 130,965	$ 68,504	$ 288,397	$ 357,542

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 702,073	$ 613,110
Trade accounts receivable, less allowance for doubtful accounts (2020 – $2,154; 2019 – $3,711)	516,166	612,651
Other accounts receivable	61,522	67,551
Inventories	828,080	768,984
Other current assets	119,171	162,813
Total current assets	2,227,012	2,225,109
Property, plant and equipment, at cost	7,284,575	6,817,843
Less accumulated depreciation and amortization	2,041,851	1,908,370
Net property, plant and equipment	5,242,724	4,909,473
Investments	603,745	579,813
Other assets	211,534	213,061
Goodwill	1,603,049	1,578,785
Other intangibles, net of amortization	343,919	354,622
Total assets	10,231,983	9,860,863
Current liabilities:
Accounts payable	465,644	574,138
Accrued expenses	477,510	576,297
Current portion of long-term debt	603,787	187,336
Dividends payable	40,787	38,764
Accrued expenses	18,013	23,137
Income taxes payable	25,011	32,461
Total current liabilities	1,612,739	1,408,996
Long-term debt	2,940,533	2,862,921
Postretirement benefits	49,926	50,899
Pension benefits	285,942	292,073
Other noncurrent liabilities	612,013	754,536
Deferred income taxes	405,449	397,858
Commitments and contingencies (Note 9)
Albemarle Corporation shareholders’ equity:
Common stock, $.01 par value, issued and outstanding – 106,457 in 2020 and 106,040 in 2019	1,065	1,061
Additional paid-in capital	1,410,534	1,383,446
Accumulated other comprehensive loss	(398,467)	(395,735)
Retained earnings	3,111,749	2,943,478
Total Albemarle Corporation shareholders’ equity	4,124,881	3,932,250
Noncontrolling interests	200,500	161,330
Total equity	4,325,381	4,093,580
Total liabilities and equity	$ 10,231,983	$ 9,860,863

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,154	$ 3,711
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	106,457	106,040
Common stock, outstanding (in shares)	106,457	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	498,114				442,837	442,837	55,277
Other comprehensive (loss) income	(85,437)			(85,295)		(85,295)	(142)
Cash dividends declared	(174,042)				(116,830)	(116,830)	(57,212)
Stock-based compensation	16,999		16,999			16,999
Exercise of stock options (in shares)		161,909
Exercise of stock options	4,814	$ 2	4,812			4,814
Issuance of common stock, net (in shares)		383,313
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)		(130,162)
Shares withheld for withholding taxes associated with common stock issuances	(10,774)	$ (1)	(10,773)			(10,774)
Ending Balance (in shares) at Sep. 30, 2019		106,031,088
Ending Balance at Sep. 30, 2019	4,008,337	$ 1,060	1,379,419	(435,977)	2,892,057	3,836,559	171,778
Beginning Balance (in shares) at Jun. 30, 2019		105,971,464
Beginning Balance at Jun. 30, 2019	3,974,403	$ 1,059	1,373,213	(349,411)	2,775,940	3,800,801	173,602
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	171,618				155,070	155,070	16,548
Other comprehensive (loss) income	(86,688)			(86,566)		(86,566)	(122)
Cash dividends declared	(57,203)				(38,953)	(38,953)	(18,250)
Stock-based compensation	4,802		4,802			4,802
Exercise of stock options (in shares)		36,000
Exercise of stock options	1,609	$ 1	1,608			1,609
Issuance of common stock, net (in shares)		26,489
Issuance of common stock, net	0	$ 0	0			0
Shares withheld for withholding taxes associated with common stock issuances (in shares)		(2,865)
Shares withheld for withholding taxes associated with common stock issuances	(204)	$ 0	(204)			(204)
Ending Balance (in shares) at Sep. 30, 2019		106,031,088
Ending Balance at Sep. 30, 2019	4,008,337	$ 1,060	1,379,419	(435,977)	2,892,057	3,836,559	171,778
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	344,438				291,129	291,129	53,309
Other comprehensive (loss) income	(2,585)			(2,732)		(2,732)	147
Cash dividends declared	(137,144)				(122,858)	(122,858)	(14,286)
Stock-based compensation	14,970		14,970			14,970
Exercise of stock options (in shares)		300,833
Exercise of stock options	16,925	$ 3	16,922			16,925
Issuance of common stock, net (in shares)		179,368
Issuance of common stock, net	0	$ 2	(2)			0
Shares withheld for withholding taxes associated with common stock issuances (in shares)		(63,368)
Shares withheld for withholding taxes associated with common stock issuances	(4,803)	$ (1)	(4,802)			(4,803)
Ending Balance (in shares) at Sep. 30, 2020		106,457,048
Ending Balance at Sep. 30, 2020	4,325,381	$ 1,065	1,410,534	(398,467)	3,111,749	4,124,881	200,500
Beginning Balance (in shares) at Jun. 30, 2020		106,336,982
Beginning Balance at Jun. 30, 2020	4,206,161	$ 1,064	1,400,105	(431,131)	3,054,434	4,024,472	181,689
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	117,045				98,301	98,301	18,744
Other comprehensive (loss) income	32,731			32,664		32,664	67
Cash dividends declared	(40,986)				(40,986)	(40,986)	0
Stock-based compensation	5,098		5,098			5,098
Exercise of stock options (in shares)		96,356
Exercise of stock options	6,116	$ 1	6,115			6,116
Issuance of common stock, net (in shares)		33,798
Issuance of common stock, net	0	$ 0	0			0
Shares withheld for withholding taxes associated with common stock issuances (in shares)		(10,088)
Shares withheld for withholding taxes associated with common stock issuances	(784)	$ 0	(784)			(784)
Ending Balance (in shares) at Sep. 30, 2020		106,457,048
Ending Balance at Sep. 30, 2020	$ 4,325,381	$ 1,065	$ 1,410,534	$ (398,467)	$ 3,111,749	$ 4,124,881	$ 200,500

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Financial Position [Abstract]
Cash dividends declared (in dollars per share)	$ 0.385	$ 0.3675	$ 1.155	$ 1.1025

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 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	344,438	498,114
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	170,214	156,718
Gain on sale of property	0	(11,079)
Stock-based compensation and other	15,864	15,169
Equity in net income of unconsolidated investments (net of tax)	(83,872)	(106,727)
Dividends received from unconsolidated investments and nonmarketable securities	61,309	62,982
Pension and postretirement (benefit) expense	(4,975)	1,641
Pension and postretirement contributions	(10,323)	(10,728)
Unrealized gain on investments in marketable securities	(3,377)	(1,701)
Deferred income taxes	7,920	7,726
Working capital changes	(167,436)	(289,587)
Other, net	131,952	23,110
Net cash provided by operating activities	461,714	345,638
Cash flows from investing activities:
Acquisitions, net of cash acquired	(22,572)	0
Capital expenditures	(621,371)	(608,456)
Proceeds from sale of property and equipment	0	10,356
Sales of marketable securities, net	1,208	1,177
Investments in equity and other corporate investments	(786)	(2,569)
Net cash used in investing activities	(643,521)	(599,492)
Cash flows from financing activities:
Repayments of borrowings from credit agreements	(250,000)	0
Proceeds from borrowings of credit agreements	452,163	0
Other borrowings, net	(202,786)	(232,183)
Dividends paid to shareholders	(120,836)	(113,321)
Dividends paid to noncontrolling interests	(14,286)	(57,212)
Proceeds from exercise of stock options	16,925	4,814
Withholding taxes paid on stock-based compensation award distributions	(4,803)	(10,774)
Debt financing costs	(2,751)	0
Other	0	(445)
Net cash provided by financing activities	279,198	55,245
Net effect of foreign exchange on cash and cash equivalents	(8,428)	(38,888)
Increase (decrease) in cash and cash equivalents	88,963	(237,497)
Cash and cash equivalents at end of period	$ 702,073	$ 317,823

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 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 September 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 nine-month periods ended September 30, 2020 and 2019 and our condensed consolidated statements of cash flows for the nine-month periods ended September 30, 2020 and 2019. Cost of goods sold for the three-month period ended September 30, 2019 includes expense of $7.0 million due to the correction of an out-of-period error regarding carbonate inventory values related to the three-month period ended June 30, 2019. The Company does not believe this adjustment is material to the consolidated financial statements for the three- or nine-month periods ended September 30, 2019, or the three- or six-month periods ended June 30, 2019. 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 nine-month periods ended September 30, 2020 are not necessarily indicative of the results to be expected for the full year. Certain reclassifications have been made to the accompanying condensed consolidated financial statements and the notes thereto to conform to the current presentation. 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 September 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 September 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	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Acquisitions	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 nine 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 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 nine-month periods ended September 30, 2020 is a loss of approximately $4.7 million and $14.6 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 (“SG&A”) on our consolidated statements of income for the three-month and nine-month periods ended September 30, 2020 and 2019 is $0.2 million and $1.0 million, respectively, and $1.3 million and $4.4 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	9 Months Ended
	Sep. 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 nine months ended September 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 30,522 — 6,709 — 37,231 Balance at September 30, 2020 $ 1,388,401 $ 20,319 $ 187,743 $ 6,586 $ 1,603,049 (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 nine months ended September 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 12,699 104 1,355 (1,524) 12,634 Balance at September 30, 2020 $ 435,161 $ 18,191 $ 56,375 $ 39,758 $ 549,485 Accumulated Amortization Balance at December 31, 2019 $ (116,749) $ (7,938) $ (36,197) $ (21,345) $ (182,229) Amortization (16,789) — (1,022) (752) (18,563) Foreign currency translation adjustments and other (3,729) (113) (929) (3) (4,774) Balance at September 30, 2020 $ (137,267) $ (8,051) $ (38,148) $ (22,100) $ (205,566) Net Book Value at December 31, 2019 $ 305,713 $ 10,149 $ 18,823 $ 19,937 $ 354,622 Net Book Value at September 30, 2020 $ 297,894 $ 10,140 $ 18,227 $ 17,658 $ 343,919 (a) Net Book Value includes only indefinite-lived intangible assets.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes:The effective income tax rate for the three-month and nine-month periods ended September 30, 2020 was 25.2% and 19.8%, respectively, compared to 15.5% and 19.2% for the three-month and nine-month periods ended September 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 nine-month periods ended September 30, 2020 was impacted by a variety of factors, primarily stemming from the location in which income was earned. For the three-month and nine-month periods ended September 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 three-month and nine-month periods ended September 30, 2020 also include discrete tax expenses recorded for foreign uncertain tax positions and foreign return to accrual adjustments. The difference between the U.S. federal statutory income tax rate and our effective income tax rate for the three-month and nine-month periods ended September 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	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share: Basic and diluted earnings per share for the three-month and nine-month periods ended September 30, 2020 and 2019 are calculated as follows (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Basic earnings per share Numerator: Net income attributable to Albemarle Corporation $ 98,301 $ 155,070 $ 291,129 $ 442,837 Denominator: Weighted-average common shares for basic earnings per share 106,386 105,999 106,314 105,920 Basic earnings per share $ 0.92 $ 1.46 $ 2.74 $ 4.18 Diluted earnings per share Numerator: Net income attributable to Albemarle Corporation $ 98,301 $ 155,070 $ 291,129 $ 442,837 Denominator: Weighted-average common shares for basic earnings per share 106,386 105,999 106,314 105,920 Incremental shares under stock compensation plans 487 300 326 404 Weighted-average common shares for diluted earnings per share 106,873 106,299 106,640 106,324 Diluted earnings per share $ 0.92 $ 1.46 $ 2.73 $ 4.16 At September 30, 2020, there were 45,706 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 July 14, 2020, the Company declared a cash dividend of $0.385, which was paid on October 1, 2020 to shareholders of record at the close of business as of September 18, 2020. On October 27, 2020, the Company declared a cash dividend of $0.385 per share, which is payable on January 4, 2021 to shareholders of record at the close of business as of December 11, 2020.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories: The following table provides a breakdown of inventories at September 30, 2020 and December 31, 2019 (in thousands): September 30, December 31, 2020 2019 Finished goods $ 525,071 $ 495,639 Raw materials and work in process (a) 228,637 205,781 Stores, supplies and other 74,372 67,564 Total $ 828,080 $ 768,984 (a) Included $124.3 million and $109.3 million at September 30, 2020 and December 31, 2019, respectively, of work in process in our Lithium segment.

Investments

Investments	9 Months Ended
	Sep. 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 $428.4 million and $397.2 million at September 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 $7.1 million and $7.6 million at September 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	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-term Debt	Long-Term Debt: Long-term debt at September 30, 2020 and December 31, 2019 consisted of the following (in thousands): September 30, December 31, 2020 2019 1.125% notes, net of unamortized discount and debt issuance costs of $4,121 at September 30, 2020 and $5,659 at December 31, 2019 $ 577,479 $ 549,241 1.625% notes, net of unamortized discount and debt issuance costs of $5,846 at September 30, 2020 and $5,696 at December 31, 2019 575,754 549,204 1.875% Senior notes, net of unamortized discount and debt issuance costs of $1,172 at September 30, 2020 and $1,831 at December 31, 2019. 455,888 434,241 3.450% Senior notes, net of unamortized discount and debt issuance costs of $3,153 at September 30, 2020 and $3,533 at December 31, 2019 296,847 296,467 4.15% Senior notes, net of unamortized discount and debt issuance costs of $2,032 at September 30, 2020 and $2,398 at December 31, 2019 422,968 422,603 5.45% Senior notes, net of unamortized discount and debt issuance costs of $3,734 at September 30, 2020 and $3,850 at December 31, 2019 346,266 346,150 Floating rate notes, net of unamortized debt issuance costs of $815 at September 30, 2020 and $1,169 at December 31, 2019 199,185 198,831 Credit facilities 213,196 — Commercial paper notes 390,000 186,700 Variable-rate foreign bank loans 7,570 7,296 Finance lease obligations 59,167 59,524 Total long-term debt 3,544,320 3,050,257 Less amounts due within one year 603,787 187,336 Long-term debt, less current portion $ 2,940,533 $ 2,862,921 Current portion of long-term debt at September 30, 2020 includes commercial paper notes with a weighted-average interest rate of approximately 0.55% and a weighted-average maturity of 46 days. In the first quarter of 2020, the Company borrowed $250.0 million under the 2018 Credit Agreement to repay short-term commercial paper notes and for other general corporate purposes. This amount was repaid in the third quarter of 2020 using short-term commercial paper notes. 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 1.375%. 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 nine-month periods ended September 30, 2020, losses of $12.4 million and $16.1 million (net of income taxes), respectively, and during the three-month and nine-month periods ended September 30, 2019, gains of $12.7 million and $13.0 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 agreed to pay a 10 basis point fee on the consenting

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 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 nine months ended September 30, 2020 (in thousands): Beginning balance at December 31, 2019 $ 42,592 Expenditures (2,560) Accretion of discount 652 Additions and changes in estimates 3,857 Foreign currency translation adjustments and other 805 Ending balance at September 30, 2020 45,346 Less amounts reported in Accrued expenses 9,654 Amounts reported in Other noncurrent liabilities $ 35,692 Environmental remediation liabilities included discounted liabilities of $38.7 million and $35.6 million at September 30, 2020 and December 31, 2019, respectively, discounted at rates with a weighted-average of 3.5% and 3.7%, respectively, with the undiscounted amount totaling $72.9 million and $69.2 million at September 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 $27.1 million and $31.0 million at September 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	9 Months Ended
	Sep. 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 nine-month periods ended September 30, 2020 and 2019 (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Operating lease cost $ 8,085 $ 7,939 $ 25,298 $ 25,741 Finance lease cost: Amortization of right of use assets 126 157 433 471 Interest on lease liabilities 697 31 1,977 96 Total finance lease cost 823 188 2,410 567 Short-term lease cost 3,427 2,587 9,824 6,422 Variable lease cost 2,312 1,541 6,344 4,059 Total lease cost $ 14,647 $ 12,255 $ 43,876 $ 36,789 Supplemental cash flow information related to our lease contracts for the nine-month periods ended September 30, 2020 and 2019 is as follows (in thousands): Nine Months Ended September 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 28,074 $ 22,486 Operating cash flows from finance leases 1,156 96 Financing cash flows from finance leases 513 509 Right-of-use assets obtained in exchange for lease obligations: Operating leases 19,743 21,578 Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at September 30, 2020 and December 31, 2019 is as follows (in thousands, except as noted): September 30, 2020 December 31, 2019 Operating leases: Other assets $ 132,777 $ 133,864 Accrued expenses 18,013 23,137 Other noncurrent liabilities 116,394 114,686 Total operating lease liabilities 134,407 137,823 Finance leases: Net property, plant and equipment 58,962 59,494 Current portion of long-term debt (a) 1,412 636 Long-term debt 58,576 58,888 Total finance lease liabilities 59,988 59,524 Weighted average remaining lease term (in years): Operating leases 16.4 11.4 Finance leases 27.7 28.3 Weighted average discount rate (%): Operating leases 4.06 % 3.84 % Finance leases 4.56 % 4.56 % (a) Balance includes accrued interest of finance lease. Maturities of lease liabilities as of September 30, 2020 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2020 $ 7,414 $ 541 2021 19,663 2,165 2022 15,477 4,444 2023 13,708 4,444 2024 12,369 4,444 Thereafter 149,025 94,361 Total lease payments 217,656 110,399 Less imputed interest 83,249 50,411 Total $ 134,407 $ 59,988
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 nine-month periods ended September 30, 2020 and 2019 (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Operating lease cost $ 8,085 $ 7,939 $ 25,298 $ 25,741 Finance lease cost: Amortization of right of use assets 126 157 433 471 Interest on lease liabilities 697 31 1,977 96 Total finance lease cost 823 188 2,410 567 Short-term lease cost 3,427 2,587 9,824 6,422 Variable lease cost 2,312 1,541 6,344 4,059 Total lease cost $ 14,647 $ 12,255 $ 43,876 $ 36,789 Supplemental cash flow information related to our lease contracts for the nine-month periods ended September 30, 2020 and 2019 is as follows (in thousands): Nine Months Ended September 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 28,074 $ 22,486 Operating cash flows from finance leases 1,156 96 Financing cash flows from finance leases 513 509 Right-of-use assets obtained in exchange for lease obligations: Operating leases 19,743 21,578 Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at September 30, 2020 and December 31, 2019 is as follows (in thousands, except as noted): September 30, 2020 December 31, 2019 Operating leases: Other assets $ 132,777 $ 133,864 Accrued expenses 18,013 23,137 Other noncurrent liabilities 116,394 114,686 Total operating lease liabilities 134,407 137,823 Finance leases: Net property, plant and equipment 58,962 59,494 Current portion of long-term debt (a) 1,412 636 Long-term debt 58,576 58,888 Total finance lease liabilities 59,988 59,524 Weighted average remaining lease term (in years): Operating leases 16.4 11.4 Finance leases 27.7 28.3 Weighted average discount rate (%): Operating leases 4.06 % 3.84 % Finance leases 4.56 % 4.56 % (a) Balance includes accrued interest of finance lease. Maturities of lease liabilities as of September 30, 2020 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2020 $ 7,414 $ 541 2021 19,663 2,165 2022 15,477 4,444 2023 13,708 4,444 2024 12,369 4,444 Thereafter 149,025 94,361 Total lease payments 217,656 110,399 Less imputed interest 83,249 50,411 Total $ 134,407 $ 59,988

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Information	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 Nine Months Ended 2020 2019 2020 2019 (In thousands) (In thousands) Net sales: Lithium $ 265,646 $ 330,386 $ 786,186 $ 947,030 Bromine Specialties 237,193 256,267 701,564 760,752 Catalysts 197,919 261,346 602,179 779,295 All Other 46,110 31,748 159,833 109,786 Total net sales $ 746,868 $ 879,747 $ 2,249,762 $ 2,596,863 Adjusted EBITDA: Lithium $ 97,789 $ 127,459 $ 270,962 $ 384,854 Bromine Specialties 79,448 88,814 235,751 248,743 Catalysts 37,834 66,944 108,081 193,890 All Other 24,985 10,448 66,407 28,931 Corporate (24,001) (39,314) (83,588) (114,300) Total adjusted EBITDA $ 216,055 $ 254,351 $ 597,613 $ 742,118 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 September 30, 2020 Net income (loss) attributable to Albemarle Corporation $ 69,102 $ 66,548 $ 25,176 $ 160,826 $ 22,798 $ (85,323) $ 98,301 Depreciation and amortization 28,687 12,900 12,658 54,245 2,187 2,247 58,679 Restructuring and other (a) — — — — — 2,251 2,251 Acquisition and integration related costs (b) — — — — — 5,928 5,928 Interest and financing expenses — — — — — 19,227 19,227 Income tax expense — — — — — 30,653 30,653 Non-operating pension and OPEB items — — — — — (2,901) (2,901) Other (c) — — — — — 3,917 3,917 Adjusted EBITDA $ 97,789 $ 79,448 $ 37,834 $ 215,071 $ 24,985 $ (24,001) $ 216,055 Three months ended September 30, 2019 Net income (loss) attributable to Albemarle Corporation $ 102,136 $ 75,224 $ 54,345 $ 231,705 $ 8,305 $ (84,940) $ 155,070 Depreciation and amortization 25,212 12,448 12,599 50,259 2,143 2,085 54,487 Acquisition and integration related costs (b) — — — — — 4,114 4,114 Interest and financing expenses — — — — — 11,108 11,108 Income tax expense — — — — — 25,341 25,341 Non-operating pension and OPEB items — — — — — (551) (551) Other (d) 111 1,142 — 1,253 — 3,529 4,782 Adjusted EBITDA $ 127,459 $ 88,814 $ 66,944 $ 283,217 $ 10,448 $ (39,314) $ 254,351 Nine months ended September 30, 2020 Net income (loss) attributable to Albemarle Corporation $ 188,380 $ 198,905 $ 70,770 $ 458,055 $ 60,069 $ (226,995) $ 291,129 Depreciation and amortization 82,582 36,846 37,311 156,739 6,338 7,137 170,214 Restructuring and other (a) — — — — — 10,831 10,831 Acquisition and integration related costs (b) — — — — — 14,349 14,349 Interest and financing expenses — — — — — 53,964 53,964 Income tax expense — — — — — 64,526 64,526 Non-operating pension and OPEB items — — — — — (8,704) (8,704) Other (c) — — — — — 1,304 1,304 Adjusted EBITDA $ 270,962 $ 235,751 $ 108,081 $ 614,794 $ 66,407 $ (83,588) $ 597,613 Nine months ended September 30, 2019 Net income (loss) attributable to Albemarle Corporation $ 312,609 $ 212,320 $ 156,328 $ 681,257 $ 22,629 $ (261,049) $ 442,837 Depreciation and amortization 71,669 35,281 37,562 144,512 6,302 5,904 156,718 Restructuring and other (a) — — — — — 5,290 5,290 Acquisition and integration related costs (b) — — — — — 14,388 14,388 Gain on sale of property (e) — — — — — (11,079) (11,079) Interest and financing expenses — — — — — 35,295 35,295 Income tax expense — — — — — 93,266 93,266 Non-operating pension and OPEB items — — — — — (1,810) (1,810) Other (d) 576 1,142 — 1,718 — 5,495 7,213 Adjusted EBITDA $ 384,854 $ 248,743 $ 193,890 $ 827,487 $ 28,931 $ (114,300) $ 742,118 (a) In 2020, we recorded severance expenses as part of business reorganization plans, impacting each of our businesses and Corporate, primarily in the U.S., Germany and with our Jordanian joint venture partner. During the three months ended September 30, 2020, we recorded severance expenses of $2.3 million in SG&A. During the nine months ended September 30, 2020, we recorded expenses of $0.7 million in Cost of goods sold, $10.4 million in SG&A 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 2021. During the nine months ended September 30, 2019, severance expenses of $5.3 million, respectively, were recorded in SG&A 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 SG&A. (c) Included amounts for the three months ended September 30, 2020 recorded in: ▪ SG&A - $3.8 million of a net expense primarily relating to the increase of environmental reserves at non-operating businesses we have previously divested. ▪ Other expenses, net - $0.2 million loss resulting from the settlement of a historical legal matter of an acquired company. Included amounts for the nine months ended September 30, 2020 recorded in: • SG&A - $3.8 million of a net expense primarily relating to the increase of environmental reserves at non-operating businesses we have previously divested. ▪ Other expenses, net - $2.5 million net gain resulting from the settlement of legal matters related to a business sold or a site in the process of being 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 September 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. ▪ SG&A - $1.1 million of a write-off of uncollectable accounts receivable from a terminated distributor in the Bromine Specialties segment. ▪ Other expenses, net - $3.1 million of unrecoverable vendor costs outside the operations of the business related to the construction of the future Kemerton production facility, as well as a net loss of $0.4 million primarily resulting from the settlement of legal matters related to previously disposed businesses or recorded in purchase accounting. Included amounts for the nine months ended September 30, 2019 recorded in: ▪ Cost of goods sold - $0.6 million related to non-routine labor and compensation related costs in Chile that were outside normal compensation arrangements. ▪ SG&A - $1.0 million of shortfall contributions for our multiemployer plan financial improvement plan and $1.1 million of a write-off of uncollectable accounts receivable from a terminated distributor in the Bromine Specialities segment. ▪ Other expenses, net - $3.1 million of unrecoverable vendor costs outside the operations of the business related to the construction of the future Kemerton production facility, a net loss of $0.4 million primarily resulting from the settlement of legal matters related to previously disposed businesses or recorded in purchase accounting, and $0.9 million of a net loss primarily resulting from the revision of indemnifications and other liabilities related to previously disposed businesses. (e) Gain recorded in Other expenses, 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	9 Months Ended
	Sep. 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 nine-month periods ended September 30, 2020 and 2019 were as follows (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Pension Benefits Cost (Credit): Service cost $ 1,202 $ 1,118 $ 3,623 $ 3,371 Interest cost 6,696 8,314 20,049 24,854 Expected return on assets (10,065) (9,414) (30,156) (28,311) Amortization of prior service benefit 9 (5) 27 7 Total net pension benefits (credit) cost $ (2,158) $ 13 $ (6,457) $ (79) Postretirement Benefits Cost: Service cost $ 27 $ 24 $ 79 $ 73 Interest cost 468 549 1,403 1,647 Total net postretirement benefits cost $ 495 $ 573 $ 1,482 $ 1,720 Total net pension and postretirement benefits (credit) cost $ (1,663) $ 586 $ (4,975) $ 1,641 All components of net benefit cost (credit), other than service cost, are included in Other expenses, net on the consolidated statements of income. During the three-month and nine-month periods ended September 30, 2020, we made contributions of $2.7 million and $7.9 million, respectively, to our qualified and nonqualified pension plans. During the three-month and nine-month periods ended September 30, 2019, we made contributions of $2.1 million and $8.6 million, respectively, to our qualified and nonqualified pension plans. We paid $0.9 million and $2.5 million in premiums to the U.S. postretirement benefit plan during the three-month and nine-month periods ended September 30, 2020, respectively. During the three-month and nine-month periods ended September 30, 2019, we paid $0.8 million and $2.1 million, respectively, in premiums to the U.S. postretirement benefit plan.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 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. September 30, 2020 December 31, 2019 Recorded Fair Value Recorded Fair Value (In thousands) Long-term debt $ 3,560,816 $ 3,649,323 $ 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 September 30, 2020 and December 31, 2019, we had outstanding designated foreign currency forward contracts with notional values totaling the equivalent of $187.3 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 September 30, 2020 and December 31, 2019, we had outstanding non-designated foreign currency forward contracts with notional values totaling $658.1 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 September 30, 2020 and December 31, 2019 (in thousands): September 30, 2020 December 31, 2019 Assets Liabilities Assets Liabilities Designated as hedging instruments (a) $ 2,820 $ — $ 5,369 $ — Not Designated as hedging instruments (b) 1,075 1,834 2,032 3,613 Total $ 3,895 $ 1,834 $ 7,401 $ 3,613 (a) Included $2.5 million in Other current assets and $0.3 million in Other assets at September 30, 2020 and $3.7 million in Other current assets and $1.7 million in Other assets at December 31, 2019. (b) Included $1.1 million in Other current assets and $1.8 million in Accrued expenses at September 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 nine-month periods ended September 30, 2020 and 2019 (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Designated as hedging instruments Gains (losses) recognized in Other comprehensive income $ 6,993 $ — $ (6,822) $ — Not designated as hedging instruments Gains (losses) recognized in Other expenses, net (a) $ 3,102 $ (19,331) $ (5,201) $ (27,647) (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, net. In addition, for the nine-month periods ended September 30, 2020 and 2019, we recorded net cash settlements of $15.7 million and $25.5 million, respectively, in Other, net, in our condensed consolidated statements of cash flows. As of September 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	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 (in thousands): September 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) $ 30,884 $ 30,884 $ — $ — Private equity securities (b) $ 27 $ 27 $ — $ — Private equity securities measured at net asset value (b)(c) $ 4,638 $ — $ — $ — Foreign currency forward contracts (d) $ 3,895 $ — $ 3,895 $ — Liabilities: Obligations under executive deferred compensation plan (a) $ 30,884 $ 30,884 $ — $ — Foreign currency forward contracts (d) $ 1,834 $ — $ 1,834 $ — 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, 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	9 Months Ended
	Sep. 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 September 30, 2020 Balance at June 30, 2020 $ (488,429) $ 490 $ 77,103 $ (8,968) $ (11,327) $ (431,131) Other comprehensive income (loss) before reclassifications 37,489 — (12,408) 6,993 — 32,074 Amounts reclassified from accumulated other comprehensive loss — 10 — — 647 657 Other comprehensive income (loss), net of tax 37,489 10 (12,408) 6,993 647 32,731 Other comprehensive income attributable to noncontrolling interests (67) — — — — (67) Balance at September 30, 2020 $ (451,007) $ 500 $ 64,695 $ (1,975) $ (10,680) $ (398,467) Three months ended September 30, 2019 Balance at June 30, 2019 $ (407,937) $ (146) $ 72,604 $ — $ (13,932) $ (349,411) Other comprehensive (loss) income before reclassifications (100,069) — 12,745 — — (87,324) Amounts reclassified from accumulated other comprehensive loss — (5) — — 641 636 Other comprehensive (loss) income, net of tax (100,069) (5) 12,745 — 641 (86,688) Other comprehensive loss attributable to noncontrolling interests 122 — — — — 122 Balance at September 30, 2019 $ (507,884) $ (151) $ 85,349 $ — $ (13,291) $ (435,977) Nine months ended September 30, 2020 Balance at December 31, 2019 $ (469,210) $ 473 $ 80,778 $ 4,847 $ (12,623) $ (395,735) Other comprehensive income (loss) before reclassifications 18,350 — (16,083) (6,822) — (4,555) Amounts reclassified from accumulated other comprehensive loss — 27 — — 1,943 1,970 Other comprehensive income (loss), net of tax 18,350 27 (16,083) (6,822) 1,943 (2,585) Other comprehensive income attributable to noncontrolling interests (147) — — — — (147) Balance at September 30, 2020 $ (451,007) $ 500 $ 64,695 $ (1,975) $ (10,680) $ (398,467) Nine months ended September 30, 2019 Balance at December 31, 2018 $ (407,646) $ (159) $ 72,337 $ — $ (15,214) $ (350,682) Other comprehensive (loss) income before reclassifications (100,380) — 13,012 — — (87,368) Amounts reclassified from accumulated other comprehensive loss — 8 — — 1,923 1,931 Other comprehensive (loss) income, net of tax (100,380) 8 13,012 — 1,923 (85,437) Other comprehensive loss attributable to noncontrolling interests 142 — — — — 142 Balance at September 30, 2019 $ (507,884) $ (151) $ 85,349 $ — $ (13,291) $ (435,977) (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 nine-month periods ended September 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 September 30, 2020 Other comprehensive income (loss), before tax $ 37,494 $ 10 $ (16,029) $ 6,993 $ 834 Income tax (expense) benefit (5) — 3,621 — (187) Other comprehensive income (loss), net of tax $ 37,489 $ 10 $ (12,408) $ 6,993 $ 647 Three months ended September 30, 2019 Other comprehensive (loss) income, before tax $ (100,069) $ (3) $ 16,584 $ — $ 834 Income tax expense — (2) (3,839) — (193) Other comprehensive (loss) income, net of tax $ (100,069) $ (5) $ 12,745 $ — $ 641 Nine months ended September 30, 2020 Other comprehensive income (loss), before tax $ 18,352 $ 28 $ (20,755) $ (6,822) $ 2,502 Income tax (expense) benefit (2) (1) 4,672 — (559) Other comprehensive income (loss), net of tax $ 18,350 $ 27 $ (16,083) $ (6,822) $ 1,943 Nine months ended September 30, 2019 Other comprehensive (loss) income, before tax $ (100,379) $ 10 $ 16,932 $ — $ 2,502 Income tax expense (1) (2) (3,920) — (579) Other comprehensive (loss) income, net of tax $ (100,380) $ 8 $ 13,012 $ — $ 1,923

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 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 Nine Months Ended 2020 2019 2020 2019 Sales to unconsolidated affiliates $ 4,863 $ 4,465 $ 17,361 $ 14,128 Purchases from unconsolidated affiliates (a) $ 10,742 $ 41,304 $ 142,366 $ 160,420 (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): September 30, 2020 December 31, 2019 Receivables from unconsolidated affiliates $ 2,765 $ 7,163 Payables to unconsolidated affiliates $ 7,263 $ 35,502

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information: Supplemental information related to the condensed consolidated statements of cash flows is as follows (in thousands): Nine Months Ended 2020 2019 Supplemental non-cash disclosure related to investing activities: Capital expenditures included in Accounts payable $ 167,393 $ 174,510 As part of the purchase price paid for the acquisition of a 60% interest in MRL’s Wodgina Project, the Company transferred $131.9 million of its construction in progress of the designated Kemerton assets during the nine months ended September 30, 2020, representing MRL’s 40% interest in the assets. Since the acquisition, we have transferred $296.6 million of construction in progress to MRL through September 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	9 Months Ended
	Sep. 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)	9 Months Ended
	Sep. 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)	9 Months Ended
	Sep. 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)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Goodwill	The following table summarizes the changes in goodwill by reportable segment for the nine months ended September 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 30,522 — 6,709 — 37,231 Balance at September 30, 2020 $ 1,388,401 $ 20,319 $ 187,743 $ 6,586 $ 1,603,049 (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 nine months ended September 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 12,699 104 1,355 (1,524) 12,634 Balance at September 30, 2020 $ 435,161 $ 18,191 $ 56,375 $ 39,758 $ 549,485 Accumulated Amortization Balance at December 31, 2019 $ (116,749) $ (7,938) $ (36,197) $ (21,345) $ (182,229) Amortization (16,789) — (1,022) (752) (18,563) Foreign currency translation adjustments and other (3,729) (113) (929) (3) (4,774) Balance at September 30, 2020 $ (137,267) $ (8,051) $ (38,148) $ (22,100) $ (205,566) Net Book Value at December 31, 2019 $ 305,713 $ 10,149 $ 18,823 $ 19,937 $ 354,622 Net Book Value at September 30, 2020 $ 297,894 $ 10,140 $ 18,227 $ 17,658 $ 343,919 (a) Net Book Value includes only indefinite-lived intangible assets.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 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 nine-month periods ended September 30, 2020 and 2019 are calculated as follows (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Basic earnings per share Numerator: Net income attributable to Albemarle Corporation $ 98,301 $ 155,070 $ 291,129 $ 442,837 Denominator: Weighted-average common shares for basic earnings per share 106,386 105,999 106,314 105,920 Basic earnings per share $ 0.92 $ 1.46 $ 2.74 $ 4.18 Diluted earnings per share Numerator: Net income attributable to Albemarle Corporation $ 98,301 $ 155,070 $ 291,129 $ 442,837 Denominator: Weighted-average common shares for basic earnings per share 106,386 105,999 106,314 105,920 Incremental shares under stock compensation plans 487 300 326 404 Weighted-average common shares for diluted earnings per share 106,873 106,299 106,640 106,324 Diluted earnings per share $ 0.92 $ 1.46 $ 2.73 $ 4.16

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Breakdown of Inventories	The following table provides a breakdown of inventories at September 30, 2020 and December 31, 2019 (in thousands): September 30, December 31, 2020 2019 Finished goods $ 525,071 $ 495,639 Raw materials and work in process (a) 228,637 205,781 Stores, supplies and other 74,372 67,564 Total $ 828,080 $ 768,984 (a) Included $124.3 million and $109.3 million at September 30, 2020 and December 31, 2019, respectively, of work in process in our Lithium segment.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt at September 30, 2020 and December 31, 2019 consisted of the following (in thousands): September 30, December 31, 2020 2019 1.125% notes, net of unamortized discount and debt issuance costs of $4,121 at September 30, 2020 and $5,659 at December 31, 2019 $ 577,479 $ 549,241 1.625% notes, net of unamortized discount and debt issuance costs of $5,846 at September 30, 2020 and $5,696 at December 31, 2019 575,754 549,204 1.875% Senior notes, net of unamortized discount and debt issuance costs of $1,172 at September 30, 2020 and $1,831 at December 31, 2019. 455,888 434,241 3.450% Senior notes, net of unamortized discount and debt issuance costs of $3,153 at September 30, 2020 and $3,533 at December 31, 2019 296,847 296,467 4.15% Senior notes, net of unamortized discount and debt issuance costs of $2,032 at September 30, 2020 and $2,398 at December 31, 2019 422,968 422,603 5.45% Senior notes, net of unamortized discount and debt issuance costs of $3,734 at September 30, 2020 and $3,850 at December 31, 2019 346,266 346,150 Floating rate notes, net of unamortized debt issuance costs of $815 at September 30, 2020 and $1,169 at December 31, 2019 199,185 198,831 Credit facilities 213,196 — Commercial paper notes 390,000 186,700 Variable-rate foreign bank loans 7,570 7,296 Finance lease obligations 59,167 59,524 Total long-term debt 3,544,320 3,050,257 Less amounts due within one year 603,787 187,336 Long-term debt, less current portion $ 2,940,533 $ 2,862,921

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Activity in Recorded Environmental Liabilities	We had the following activity in our recorded environmental liabilities for the nine months ended September 30, 2020 (in thousands): Beginning balance at December 31, 2019 $ 42,592 Expenditures (2,560) Accretion of discount 652 Additions and changes in estimates 3,857 Foreign currency translation adjustments and other 805 Ending balance at September 30, 2020 45,346 Less amounts reported in Accrued expenses 9,654 Amounts reported in Other noncurrent liabilities $ 35,692

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Lease, Cost	The following table provides details of our lease contracts for the three-month and nine-month periods ended September 30, 2020 and 2019 (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Operating lease cost $ 8,085 $ 7,939 $ 25,298 $ 25,741 Finance lease cost: Amortization of right of use assets 126 157 433 471 Interest on lease liabilities 697 31 1,977 96 Total finance lease cost 823 188 2,410 567 Short-term lease cost 3,427 2,587 9,824 6,422 Variable lease cost 2,312 1,541 6,344 4,059 Total lease cost $ 14,647 $ 12,255 $ 43,876 $ 36,789 Supplemental cash flow information related to our lease contracts for the nine-month periods ended September 30, 2020 and 2019 is as follows (in thousands): Nine Months Ended September 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 28,074 $ 22,486 Operating cash flows from finance leases 1,156 96 Financing cash flows from finance leases 513 509 Right-of-use assets obtained in exchange for lease obligations: Operating leases 19,743 21,578
Supplemental Balance Sheet Information related to Leases	Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at September 30, 2020 and December 31, 2019 is as follows (in thousands, except as noted): September 30, 2020 December 31, 2019 Operating leases: Other assets $ 132,777 $ 133,864 Accrued expenses 18,013 23,137 Other noncurrent liabilities 116,394 114,686 Total operating lease liabilities 134,407 137,823 Finance leases: Net property, plant and equipment 58,962 59,494 Current portion of long-term debt (a) 1,412 636 Long-term debt 58,576 58,888 Total finance lease liabilities 59,988 59,524 Weighted average remaining lease term (in years): Operating leases 16.4 11.4 Finance leases 27.7 28.3 Weighted average discount rate (%): Operating leases 4.06 % 3.84 % Finance leases 4.56 % 4.56 %
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities as of September 30, 2020 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2020 $ 7,414 $ 541 2021 19,663 2,165 2022 15,477 4,444 2023 13,708 4,444 2024 12,369 4,444 Thereafter 149,025 94,361 Total lease payments 217,656 110,399 Less imputed interest 83,249 50,411 Total $ 134,407 $ 59,988
Finance Lease, Liability, Maturity	Maturities of lease liabilities as of September 30, 2020 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2020 $ 7,414 $ 541 2021 19,663 2,165 2022 15,477 4,444 2023 13,708 4,444 2024 12,369 4,444 Thereafter 149,025 94,361 Total lease payments 217,656 110,399 Less imputed interest 83,249 50,411 Total $ 134,407 $ 59,988

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Reportable Segments Summarized Financial Information	Three Months Ended Nine Months Ended 2020 2019 2020 2019 (In thousands) (In thousands) Net sales: Lithium $ 265,646 $ 330,386 $ 786,186 $ 947,030 Bromine Specialties 237,193 256,267 701,564 760,752 Catalysts 197,919 261,346 602,179 779,295 All Other 46,110 31,748 159,833 109,786 Total net sales $ 746,868 $ 879,747 $ 2,249,762 $ 2,596,863 Adjusted EBITDA: Lithium $ 97,789 $ 127,459 $ 270,962 $ 384,854 Bromine Specialties 79,448 88,814 235,751 248,743 Catalysts 37,834 66,944 108,081 193,890 All Other 24,985 10,448 66,407 28,931 Corporate (24,001) (39,314) (83,588) (114,300) Total adjusted EBITDA $ 216,055 $ 254,351 $ 597,613 $ 742,118

Pension Plans and Other Postr_2

Pension Plans and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 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 nine-month periods ended September 30, 2020 and 2019 were as follows (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Pension Benefits Cost (Credit): Service cost $ 1,202 $ 1,118 $ 3,623 $ 3,371 Interest cost 6,696 8,314 20,049 24,854 Expected return on assets (10,065) (9,414) (30,156) (28,311) Amortization of prior service benefit 9 (5) 27 7 Total net pension benefits (credit) cost $ (2,158) $ 13 $ (6,457) $ (79) Postretirement Benefits Cost: Service cost $ 27 $ 24 $ 79 $ 73 Interest cost 468 549 1,403 1,647 Total net postretirement benefits cost $ 495 $ 573 $ 1,482 $ 1,720 Total net pension and postretirement benefits (credit) cost $ (1,663) $ 586 $ (4,975) $ 1,641

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 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. September 30, 2020 December 31, 2019 Recorded Fair Value Recorded Fair Value (In thousands) Long-term debt $ 3,560,816 $ 3,649,323 $ 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 September 30, 2020 and December 31, 2019 (in thousands): September 30, 2020 December 31, 2019 Assets Liabilities Assets Liabilities Designated as hedging instruments (a) $ 2,820 $ — $ 5,369 $ — Not Designated as hedging instruments (b) 1,075 1,834 2,032 3,613 Total $ 3,895 $ 1,834 $ 7,401 $ 3,613 (a) Included $2.5 million in Other current assets and $0.3 million in Other assets at September 30, 2020 and $3.7 million in Other current assets and $1.7 million in Other assets at December 31, 2019. (b) Included $1.1 million in Other current assets and $1.8 million in Accrued expenses at September 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 nine-month periods ended September 30, 2020 and 2019 (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Designated as hedging instruments Gains (losses) recognized in Other comprehensive income $ 6,993 $ — $ (6,822) $ — Not designated as hedging instruments Gains (losses) recognized in Other expenses, net (a) $ 3,102 $ (19,331) $ (5,201) $ (27,647) (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, net.

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 (in thousands): September 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) $ 30,884 $ 30,884 $ — $ — Private equity securities (b) $ 27 $ 27 $ — $ — Private equity securities measured at net asset value (b)(c) $ 4,638 $ — $ — $ — Foreign currency forward contracts (d) $ 3,895 $ — $ 3,895 $ — Liabilities: Obligations under executive deferred compensation plan (a) $ 30,884 $ 30,884 $ — $ — Foreign currency forward contracts (d) $ 1,834 $ — $ 1,834 $ — 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, 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)	9 Months Ended
	Sep. 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 September 30, 2020 Balance at June 30, 2020 $ (488,429) $ 490 $ 77,103 $ (8,968) $ (11,327) $ (431,131) Other comprehensive income (loss) before reclassifications 37,489 — (12,408) 6,993 — 32,074 Amounts reclassified from accumulated other comprehensive loss — 10 — — 647 657 Other comprehensive income (loss), net of tax 37,489 10 (12,408) 6,993 647 32,731 Other comprehensive income attributable to noncontrolling interests (67) — — — — (67) Balance at September 30, 2020 $ (451,007) $ 500 $ 64,695 $ (1,975) $ (10,680) $ (398,467) Three months ended September 30, 2019 Balance at June 30, 2019 $ (407,937) $ (146) $ 72,604 $ — $ (13,932) $ (349,411) Other comprehensive (loss) income before reclassifications (100,069) — 12,745 — — (87,324) Amounts reclassified from accumulated other comprehensive loss — (5) — — 641 636 Other comprehensive (loss) income, net of tax (100,069) (5) 12,745 — 641 (86,688) Other comprehensive loss attributable to noncontrolling interests 122 — — — — 122 Balance at September 30, 2019 $ (507,884) $ (151) $ 85,349 $ — $ (13,291) $ (435,977) Nine months ended September 30, 2020 Balance at December 31, 2019 $ (469,210) $ 473 $ 80,778 $ 4,847 $ (12,623) $ (395,735) Other comprehensive income (loss) before reclassifications 18,350 — (16,083) (6,822) — (4,555) Amounts reclassified from accumulated other comprehensive loss — 27 — — 1,943 1,970 Other comprehensive income (loss), net of tax 18,350 27 (16,083) (6,822) 1,943 (2,585) Other comprehensive income attributable to noncontrolling interests (147) — — — — (147) Balance at September 30, 2020 $ (451,007) $ 500 $ 64,695 $ (1,975) $ (10,680) $ (398,467) Nine months ended September 30, 2019 Balance at December 31, 2018 $ (407,646) $ (159) $ 72,337 $ — $ (15,214) $ (350,682) Other comprehensive (loss) income before reclassifications (100,380) — 13,012 — — (87,368) Amounts reclassified from accumulated other comprehensive loss — 8 — — 1,923 1,931 Other comprehensive (loss) income, net of tax (100,380) 8 13,012 — 1,923 (85,437) Other comprehensive loss attributable to noncontrolling interests 142 — — — — 142 Balance at September 30, 2019 $ (507,884) $ (151) $ 85,349 $ — $ (13,291) $ (435,977) (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 nine-month periods ended September 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 September 30, 2020 Other comprehensive income (loss), before tax $ 37,494 $ 10 $ (16,029) $ 6,993 $ 834 Income tax (expense) benefit (5) — 3,621 — (187) Other comprehensive income (loss), net of tax $ 37,489 $ 10 $ (12,408) $ 6,993 $ 647 Three months ended September 30, 2019 Other comprehensive (loss) income, before tax $ (100,069) $ (3) $ 16,584 $ — $ 834 Income tax expense — (2) (3,839) — (193) Other comprehensive (loss) income, net of tax $ (100,069) $ (5) $ 12,745 $ — $ 641 Nine months ended September 30, 2020 Other comprehensive income (loss), before tax $ 18,352 $ 28 $ (20,755) $ (6,822) $ 2,502 Income tax (expense) benefit (2) (1) 4,672 — (559) Other comprehensive income (loss), net of tax $ 18,350 $ 27 $ (16,083) $ (6,822) $ 1,943 Nine months ended September 30, 2019 Other comprehensive (loss) income, before tax $ (100,379) $ 10 $ 16,932 $ — $ 2,502 Income tax expense (1) (2) (3,920) — (579) Other comprehensive (loss) income, net of tax $ (100,380) $ 8 $ 13,012 $ — $ 1,923

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended 2020 2019 2020 2019 Sales to unconsolidated affiliates $ 4,863 $ 4,465 $ 17,361 $ 14,128 Purchases from unconsolidated affiliates (a) $ 10,742 $ 41,304 $ 142,366 $ 160,420 (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): September 30, 2020 December 31, 2019 Receivables from unconsolidated affiliates $ 2,765 $ 7,163 Payables to unconsolidated affiliates $ 7,263 $ 35,502

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 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): Nine Months Ended 2020 2019 Supplemental non-cash disclosure related to investing activities: Capital expenditures included in Accounts payable $ 167,393 $ 174,510

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold	$ 492,812	$ 569,880	$ 1,520,329	$ 1,677,596
Income before income taxes and equity in net income of unconsolidated investments	$ 121,544	163,723	$ 325,092	$ 484,653
Out-of-period adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold		$ 7,000

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Sep. 30, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 1,603,049	$ 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	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Business Acquisition [Line Items]
Purchase price adjustments				$ (22,572)	$ 0
Acquisition and integration related costs		$ 5,928	$ 4,114	14,349	14,388
Net loss attributable to joint venture		98,301	155,070	291,129	442,837
Net sales		746,868	879,747	2,249,762	2,596,863
Goodwill		1,603,049		1,603,049		$ 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		4,700		14,600
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		$ 200	$ 1,300	$ 1,000	$ 4,400

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Changes in Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,578,785
Foreign currency translation adjustments and other	37,231
Balance at end of period	1,603,049
Reportable Segments | Lithium
Goodwill [Roll Forward]
Balance at beginning of period	1,370,846
Foreign currency translation adjustments and other	30,522
Balance at end of period	1,388,401
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	6,709
Balance at end of period	187,743
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	9 Months Ended
	Sep. 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	12,634
Gross Asset Value, End of Period	549,485
Accumulated Amortization, Beginning of Period	(182,229)
Amortization	(18,563)
Foreign currency translation adjustments and other	(4,774)
Accumulated Amortization, End of Period	(205,566)
Net Book Value	343,919	$ 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	12,699
Gross Asset Value, End of Period	435,161
Accumulated Amortization, Beginning of Period	(116,749)
Amortization	(16,789)
Foreign currency translation adjustments and other	(3,729)
Accumulated Amortization, End of Period	(137,267)
Net Book Value	297,894	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	104
Gross Asset Value, End of Period	18,191
Accumulated Amortization, Beginning of Period	(7,938)
Amortization	0
Foreign currency translation adjustments and other	(113)
Accumulated Amortization, End of Period	(8,051)
Net Book Value	10,140	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	1,355
Gross Asset Value, End of Period	56,375
Accumulated Amortization, Beginning of Period	(36,197)
Amortization	(1,022)
Foreign currency translation adjustments and other	(929)
Accumulated Amortization, End of Period	(38,148)
Net Book Value	18,227	18,823
Other
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	41,282
Foreign currency translation adjustments and other	(1,524)
Gross Asset Value, End of Period	39,758
Accumulated Amortization, Beginning of Period	(21,345)
Amortization	(752)
Foreign currency translation adjustments and other	(3)
Accumulated Amortization, End of Period	(22,100)
Net Book Value	$ 17,658	$ 19,937

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Tax Expense (Benefit) [Line Items]
Effective income tax rate	25.20%	15.50%	19.80%	19.20%

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Basic earnings per share from continuing operations
Net income attributable to Albemarle Corporation	$ 98,301	$ 155,070	$ 291,129	$ 442,837
Weighted-average common shares for basic earnings per share (in shares)	106,386	105,999	106,314	105,920
Basic earnings per share (in dollars per share)	$ 0.92	$ 1.46	$ 2.74	$ 4.18
Diluted earnings per share from continuing operations
Net income attributable to Albemarle Corporation	$ 98,301	$ 155,070	$ 291,129	$ 442,837
Weighted-average common shares for basic earnings per share (in shares)	106,386	105,999	106,314	105,920
Incremental shares under stock compensation plans (in shares)	487	300	326	404
Weighted-average common shares outstanding - diluted (in shares)	106,873	106,299	106,640	106,324
Diluted earnings per share (in dollars per share)	$ 0.92	$ 1.46	$ 2.73	$ 4.16

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - $ / shares	9 Months Ended
	Sep. 30, 2020	Oct. 27, 2020	Jul. 14, 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	45,706

Inventories - Breakdown of inve

Inventories - Breakdown of inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 525,071	$ 495,639
Raw materials and work in process	228,637	205,781
Stores, supplies and other	74,372	67,564
Total inventories	$ 828,080	$ 768,984

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Lithium
Inventory [Line Items]
Work in process related to Lithium	$ 124.3	$ 109.3

Investments (Details)

Investments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Windfield Holdings
Schedule of Investments [Line Items]
Equity method investment, ownership percentage	49.00%
Carrying value of unconsolidated investment	$ 428.4	$ 397.2
Other variable interest entities
Schedule of Investments [Line Items]
Carrying value of unconsolidated investment	$ 7.1	$ 7.6

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total long-term Debt	$ 3,544,320	$ 3,050,257
Current portion of long-term debt	603,787	187,336
Long-term debt	$ 2,940,533	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	$ 577,479	$ 549,241
Debt instrument, interest rate	1.125%	1.125%
Unamortized discount and debt issuance costs	$ 4,121	$ 5,659
Unsecured debt | 1.625% Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 575,754	$ 549,204
Debt instrument, interest rate	1.625%	1.625%
Unamortized discount and debt issuance costs	$ 5,846	$ 5,696
Unsecured debt | Floating Rate Notes
Debt Instrument [Line Items]
Total long-term Debt	199,185	198,831
Unamortized debt issuance costs	815	1,169
Senior notes | 1.875% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 455,888	$ 434,241
Debt instrument, interest rate	1.875%	1.875%
Unamortized discount and debt issuance costs	$ 1,172	$ 1,831
Senior notes | 3.45% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 296,847	$ 296,467
Debt instrument, interest rate	3.45%	3.45%
Unamortized discount and debt issuance costs	$ 3,153	$ 3,533
Senior notes | 4.15% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 422,968	$ 422,603
Debt instrument, interest rate	4.15%	4.15%
Unamortized discount and debt issuance costs	$ 2,032	$ 2,398
Senior notes | 5.45% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 346,266	$ 346,150
Debt instrument, interest rate	5.45%	5.45%
Unamortized discount and debt issuance costs	$ 3,734	$ 3,850
Credit facilities
Debt Instrument [Line Items]
Total long-term Debt	213,196	0
Commercial paper notes
Debt Instrument [Line Items]
Total long-term Debt	390,000	186,700
Variable-rate foreign bank loans
Debt Instrument [Line Items]
Total long-term Debt	7,570	7,296
Finance lease obligations
Debt Instrument [Line Items]
Total long-term Debt	$ 59,167	$ 59,524

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) $ in Thousands	1 Months Ended	3 Months Ended					6 Months Ended	9 Months Ended		15 Months Ended
	Apr. 30, 2020USD ($)	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2020USD ($)	Jun. 30, 2020	Sep. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2021
Debt Instrument [Line Items]
Proceeds from borrowings of credit agreements								$ 452,163	$ 0
Net investment hedge (losses) gains				$ (12,408)		$ 12,745		$ (16,083)	$ 13,012
Commercial paper notes
Debt Instrument [Line Items]
Weighted average interest rate				0.55%				0.55%
Debt instrument maturity period								46 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
2019 Credit Agreement
Debt Instrument [Line Items]
Proceeds from borrowings of credit agreements	$ 200,000
Interest rate on amount borrowed	1.375%
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		3.50	4							4.50

Commitments and Contingencies -

Commitments and Contingencies - Activity in Recorded Environmental Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at beginning of period	$ 42,592
Expenditures	(2,560)
Accretion of discount	652
Accrual for Environmental Loss Contingencies, Period Increase (Decrease)	3,857
Foreign currency translation adjustments and other	805
Balance at end of period	$ 42,592	$ 45,346
Less amounts reported in Accrued expenses		9,654
Amounts reported in Other noncurrent liabilities		$ 35,692

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Environmental remediation liabilities - discounted	$ 38.7	$ 35.6
Accrual for environmental loss contingencies - weighted-average discount rate	3.50%	3.70%
Environmental remediation liabilities - undiscounted	$ 72.9	$ 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	$ 27.1	$ 31

Leases - Additional Information

Leases - Additional Information (Details)	Sep. 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 8,085	$ 7,939	$ 25,298	$ 25,741
Amortization of right of use assets	126	157	433	471
Interest on lease liabilities	697	31	1,977	96
Total finance lease cost	823	188	2,410	567
Short-term lease cost	3,427	2,587	9,824	6,422
Variable lease cost	2,312	1,541	6,344	4,059
Total lease cost	$ 14,647	$ 12,255	$ 43,876	$ 36,789

Leases - Leases Cash Flow (Deta

Leases - Leases Cash Flow (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 28,074	$ 22,486
Operating cash flows from finance leases	1,156	96
Financing cash flows from finance leases	513	509
Right-of-use asset obtained in exchange for operating leases	$ 19,743	$ 21,578

Leases - Leases Balance Sheet (

Leases - Leases Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Other assets	$ 132,777	$ 133,864
Accrued expenses	18,013	23,137
Other noncurrent liabilities	116,394	114,686
Total operating lease liabilities	134,407	137,823
Net property, plant and equipment	58,962	59,494
Current portion of long-term debt(a)	1,412	636
Long-term debt	58,576	58,888
Total finance lease liabilities	$ 59,988	$ 59,524
Weighted average remaining lease term, operating leases	16 years 4 months 24 days	11 years 4 months 24 days
Weighted average remaining lease term, finance leases	27 years 8 months 12 days	28 years 3 months 18 days
Weighted average discount rate, operating leases, percent	4.06%	3.84%
Weighted average discount rate, finance leases, percent	4.56%	4.56%

Leases - Leases Maturity Table

Leases - Leases Maturity Table (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Operating Leases
Remainder of 2020	$ 7,414
2021	19,663
2022	15,477
2023	13,708
2024	12,369
Thereafter	149,025
Total lease payments	217,656
Less imputed interest	83,249
Total operating lease liabilities	134,407	$ 137,823
Finance Leases
Remainder of 2020	541
2021	2,165
2022	4,444
2023	4,444
2024	4,444
Thereafter	94,361
Total lease payments	110,399
Less imputed interest	50,411
Total finance lease liabilities	$ 59,988	$ 59,524

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Information - Summarize

Segment Information - Summarized Financial Information by Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Net sales	$ 746,868	$ 879,747	$ 2,249,762	$ 2,596,863
Adjusted EBITDA	216,055	254,351	597,613	742,118
Net income attributable to Albemarle Corporation	98,301	155,070	291,129	442,837
Depreciation and amortization	58,679	54,487	170,214	156,718
Restructuring and other	2,251		10,831	5,290
Acquisition and integration related costs	5,928	4,114	14,349	14,388
Gain on sale of property			0	(11,079)
Interest and financing expenses	19,227	11,108	53,964	35,295
Income tax expense	30,653	25,341	64,526	93,266
Non-operating pension and OPEB items	(2,901)	(551)	(8,704)	(1,810)
Other	3,917	4,782	1,304	7,213
All Other
Segment Reporting Information [Line Items]
Net sales	46,110	31,748	159,833	109,786
Adjusted EBITDA	24,985	10,448	66,407	28,931
Net income attributable to Albemarle Corporation	22,798	8,305	60,069	22,629
Depreciation and amortization	2,187	2,143	6,338	6,302
Restructuring and other	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	265,646	330,386	786,186	947,030
Adjusted EBITDA	97,789	127,459	270,962	384,854
Net income attributable to Albemarle Corporation	69,102	102,136	188,380	312,609
Depreciation and amortization	28,687	25,212	82,582	71,669
Restructuring and other	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	0	576
Reportable Segments | Bromine Specialties
Segment Reporting Information [Line Items]
Net sales	237,193	256,267	701,564	760,752
Adjusted EBITDA	79,448	88,814	235,751	248,743
Net income attributable to Albemarle Corporation	66,548	75,224	198,905	212,320
Depreciation and amortization	12,900	12,448	36,846	35,281
Restructuring and other	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	1,142	0	1,142
Reportable Segments | Catalysts
Segment Reporting Information [Line Items]
Net sales	197,919	261,346	602,179	779,295
Adjusted EBITDA	37,834	66,944	108,081	193,890
Net income attributable to Albemarle Corporation	25,176	54,345	70,770	156,328
Depreciation and amortization	12,658	12,599	37,311	37,562
Restructuring and other	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	215,071	283,217	614,794	827,487
Net income attributable to Albemarle Corporation	160,826	231,705	458,055	681,257
Depreciation and amortization	54,245	50,259	156,739	144,512
Restructuring and other	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	1,253	0	1,718
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA	(24,001)	(39,314)	(83,588)	(114,300)
Net income attributable to Albemarle Corporation	(85,323)	(84,940)	(226,995)	(261,049)
Depreciation and amortization	2,247	2,085	7,137	5,904
Restructuring and other	2,251		10,831	5,290
Acquisition and integration related costs	5,928	4,114	14,349	14,388
Gain on sale of property				(11,079)
Interest and financing expenses	19,227	11,108	53,964	35,295
Income tax expense	30,653	25,341	64,526	93,266
Non-operating pension and OPEB items	(2,901)	(551)	(8,704)	(1,810)
Other	$ 3,917	$ 3,529	$ 1,304	$ 5,495

Segment Information - Summari_2

Segment Information - Summarized Financial Information by Reportable Segments (Footnote) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Restructuring and other	$ 2,251		$ 10,831	$ 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		600
Selling, general and administrative expenses
Segment Reporting Information [Line Items]
Restructuring and other	2,300		10,400	5,300
Accrual for Environmental Loss Contingencies, Revision in Estimates	3,800		3,800
Write Off Of Uncollectable Accounts Receivable		1,100		1,100
Selling, general and administrative expenses | Financial Improvement Plan [Member]
Segment Reporting Information [Line Items]
Multiemployer plan, period contributions				1,000
Non-controlling Interests
Segment Reporting Information [Line Items]
Restructuring and other			300
Other (expenses) income, net
Segment Reporting Information [Line Items]
Settlement of a legal claim		400	2,500	400
Gain on sale of idle properties			800
Revision of tax indemnification expense			$ 800	900
Unrecoverable Vendor Costs		$ 3,100		$ 3,100
Other expenses, net
Segment Reporting Information [Line Items]
Settlement of a legal claim	$ 200

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Total net pension and postretirement benefits (credit) cost	$ (1,663)	$ 586	$ (4,975)	$ 1,641
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,202	1,118	3,623	3,371
Interest cost	6,696	8,314	20,049	24,854
Expected return on assets	(10,065)	(9,414)	(30,156)	(28,311)
Amortization of prior service benefit	9	(5)	27	7
Total net pension and postretirement benefits (credit) cost	(2,158)	13	(6,457)	(79)
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	27	24	79	73
Interest cost	468	549	1,403	1,647
Total net pension and postretirement benefits (credit) cost	$ 495	$ 573	$ 1,482	$ 1,720

Pension Plans and Other Postr_4

Pension Plans and Other Postretirement Benefits - Pension and Postretirement Plan Contributions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Retirement Benefits [Abstract]
Employer contributions	$ 2.7	$ 2.1	$ 7.9	$ 8.6
Payment for other postretirement benefits	$ 0.9	$ 0.8	$ 2.5	$ 2.1

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Value of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Total long-term debt, excluding debt issuance costs	$ 3,560,816	$ 3,069,417
Total long-term debt, fair value, excluding debt issuance costs	$ 3,649,323	$ 3,173,341

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Details) $ in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2019AUD ($)
Fair Value, Option, Quantitative Disclosures [Line Items]
Foreign currency forward contracts, assets	$ 3,895		$ 3,895		$ 7,401
Foreign currency forward contracts, liabilities	1,834		1,834		3,613
Recognized gains (losses) of foreign currency forward contracts designated as hedging instruments	6,993	$ 0	(6,822)	$ 0
Forward contracts | Other, net
Fair Value, Option, Quantitative Disclosures [Line Items]
Cash settlements			(15,700)	(25,500)
Designated as Hedging Instrument | Forward contracts
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, notional amount	187,300		187,300		481,200	$ 727.9
Fair value foreign currency forward contracts designated as hedging instruments, asset	2,820		2,820		5,369
Fair value foreign currency forward contracts designated as hedging instruments, liabilities	0		0		0
Recognized gains (losses) of foreign currency forward contracts designated as hedging instruments	6,993	0	(6,822)	0
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	2,500		2,500		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	300		300		1,700
Not Designated as Hedging Instrument | Forward contracts
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, notional amount	658,100		658,100		1,150,000
Fair value foreign currency forward contracts not designated as hedging instruments, asset	1,075		1,075		2,032
Fair value foreign currency forward contracts not designated as hedging instruments, liabilities	1,834		1,834		3,613
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	1,100		1,100		2,000
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	1,800		1,800		$ 3,600
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	$ 3,102	$ (19,331)	$ (5,201)	$ (27,647)

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments under executive deferred compensation plan	$ 30,884	$ 28,715
Private equity securities	27	32
Private equity securities measured at net asset value	4,638	4,890
Foreign currency forward contracts, assets	3,895	7,401
Obligations under executive deferred compensation plan	30,884	28,715
Foreign currency forward contracts, liabilities	1,834	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	30,884	28,715
Private equity securities	27	32
Foreign currency forward contracts, assets	0	0
Obligations under executive deferred compensation plan	30,884	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	3,895	7,401
Obligations under executive deferred compensation plan	0	0
Foreign currency forward contracts, liabilities	1,834	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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	$ 4,206,161	$ 3,974,403	$ 4,093,580	$ 3,759,108
Other comprehensive income (loss), before reclassifications	32,074	(87,324)	(4,555)	(87,368)
Amounts reclassified from accumulated other comprehensive loss	657	636	1,970	1,931
Total other comprehensive income (loss), net of tax	32,731	(86,688)	(2,585)	(85,437)
Other comprehensive (income) loss attributable to noncontrolling interests	(67)	122	(147)	142
Ending Balance	4,325,381	4,008,337	4,325,381	4,008,337
Foreign Currency Translation
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(488,429)	(407,937)	(469,210)	(407,646)
Other comprehensive income (loss), before reclassifications	37,489	(100,069)	18,350	(100,380)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total other comprehensive income (loss), net of tax	37,489	(100,069)	18,350	(100,380)
Other comprehensive (income) loss attributable to noncontrolling interests	(67)	122	(147)	142
Ending Balance	(451,007)	(507,884)	(451,007)	(507,884)
Pension and Postretirement Benefits
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	490	(146)	473	(159)
Other comprehensive income (loss), before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss	10	(5)	27	8
Total other comprehensive income (loss), net of tax	10	(5)	27	8
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	500	(151)	500	(151)
Net Investment Hedge
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	77,103	72,604	80,778	72,337
Other comprehensive income (loss), before reclassifications	(12,408)	12,745	(16,083)	13,012
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total other comprehensive income (loss), net of tax	(12,408)	12,745	(16,083)	13,012
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	64,695	85,349	64,695	85,349
Cash Flow Hedge
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(8,968)	0	4,847	0
Other comprehensive income (loss), before reclassifications	6,993	0	(6,822)	0
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total other comprehensive income (loss), net of tax	6,993	0	(6,822)	0
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	(1,975)	0	(1,975)	0
Interest Rate Swap
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(11,327)	(13,932)	(12,623)	(15,214)
Other comprehensive income (loss), before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss	647	641	1,943	1,923
Total other comprehensive income (loss), net of tax	647	641	1,943	1,923
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	(10,680)	(13,291)	(10,680)	(13,291)
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(431,131)	(349,411)	(395,735)	(350,682)
Total other comprehensive income (loss), net of tax	32,664	(86,566)	(2,732)	(85,295)
Ending Balance	$ (398,467)	$ (435,977)	$ (398,467)	$ (435,977)

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive (Loss) Income [Line Items]
Total other comprehensive income (loss), net of tax	$ 32,731	$ (86,688)	$ (2,585)	$ (85,437)
Foreign Currency Translation
Equity [Abstract]
Other comprehensive income (loss), before tax	37,494	(100,069)	18,352	(100,379)
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	37,494	(100,069)	18,352	(100,379)
Income tax expense	(5)	0	(2)	(1)
Total other comprehensive income (loss), net of tax	37,489	(100,069)	18,350	(100,380)
Pension and Postretirement Benefits
Equity [Abstract]
Other comprehensive income (loss), before tax	10	(3)	28	10
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	10	(3)	28	10
Income tax expense	0	(2)	(1)	(2)
Total other comprehensive income (loss), net of tax	10	(5)	27	8
Net Investment Hedge
Equity [Abstract]
Other comprehensive income (loss), before tax	(16,029)	16,584	(20,755)	16,932
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	(16,029)	16,584	(20,755)	16,932
Income tax expense	3,621	(3,839)	4,672	(3,920)
Total other comprehensive income (loss), net of tax	(12,408)	12,745	(16,083)	13,012
Cash Flow Hedge
Equity [Abstract]
Other comprehensive income (loss), before tax	6,993	0	(6,822)	0
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	6,993	0	(6,822)	0
Income tax expense	0	0	0	0
Total other comprehensive income (loss), net of tax	6,993	0	(6,822)	0
Interest Rate Swap
Equity [Abstract]
Other comprehensive income (loss), before tax	834	834	2,502	2,502
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	834	834	2,502	2,502
Income tax expense	(187)	(193)	(559)	(579)
Total other comprehensive income (loss), net of tax	$ 647	$ 641	$ 1,943	$ 1,923

Related Party Transactions (Det

Related Party Transactions (Details) - Unconsolidated Affiliates - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Sales to unconsolidated affiliates	$ 4,863	$ 4,465	$ 17,361	$ 14,128
Purchases from unconsolidated affiliates	10,742	$ 41,304	142,366	$ 160,420
Receivables from unconsolidated affiliates	2,765		2,765		$ 7,163
Payables to unconsolidated affiliates	$ 7,263		$ 7,263		$ 35,502

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of supplemental information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Supplemental Cash Flow Information [Abstract]
Capital expenditures included in Accounts payable	$ 167,393	$ 174,510

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Additional Information (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Cash Flow Supplemental Disclosures [Line Items]
Capital expenditures			$ 621,371	$ 608,456
Tax Cuts Jobs Act Of 2017, Transition Tax For Accumulated Foreign Earnings, Liability, Current			30,400	$ 14,400
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		$ 296,600	131,900
Consideration transferred			$ 480,000