Albemarle (ALB) 10-Q 4 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
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		116,976,318
Amendment Flag	false
Document Fiscal Year Focus	2021
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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net sales	$ 830,566	$ 746,868	$ 2,433,753	$ 2,249,762
Cost of goods sold	581,293	492,812	1,672,376	1,520,329
Gross profit	249,273	254,056	761,377	729,433
Selling, general and administrative expenses	103,477	96,092	318,180	304,918
Research and development expenses	13,289	13,532	41,901	43,839
Gain (Loss) on Disposition of Business	984	0	(428,424)	0
Operating profit	131,523	144,432	829,720	380,676
Interest and financing expenses	(5,136)	(19,227)	(56,170)	(53,964)
Other expense, net	(643,196)	(3,661)	(631,870)	(1,620)
(Loss) income before income taxes and equity in net income of unconsolidated investments	(516,809)	121,544	141,680	325,092
Income tax (benefit) expense	(114,670)	30,653	14,422	64,526
(Loss) income before equity in net income of unconsolidated investments	(402,139)	90,891	127,258	260,566
Equity in net income of unconsolidated investments (net of tax)	27,706	26,154	62,215	83,872
Net (loss) income	(374,433)	117,045	189,473	344,438
Net income attributable to noncontrolling interests	(18,348)	(18,744)	(61,977)	(53,309)
Net (loss) income attributable to Albemarle Corporation	$ (392,781)	$ 98,301	$ 127,496	$ 291,129
Basic earnings per share (in dollars per share)	$ (3.36)	$ 0.92	$ 1.10	$ 2.74
Diluted earnings per share (in dollars per share)	$ (3.36)	$ 0.92	$ 1.10	$ 2.73
Weighted-average common shares outstanding - basic (in shares)	116,965	106,386	115,455	106,314
Weighted-average common shares outstanding - diluted (in shares)	116,965	106,873	116,140	106,640

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (374,433)	$ 117,045	$ 189,473	$ 344,438
Other comprehensive (loss) income, net of tax:
Foreign currency translation and other	(39,274)	37,499	(46,852)	18,377
Net investment hedge	0	(12,408)	5,110	(16,083)
Cash flow hedge	214	6,993	(563)	(6,822)
Interest rate swap	651	647	1,951	1,943
Total other comprehensive (loss) income, net of tax	(38,409)	32,731	(40,354)	(2,585)
Comprehensive (loss) income	(412,842)	149,776	149,119	341,853
Comprehensive income attributable to noncontrolling interests	(18,374)	(18,811)	(61,927)	(53,456)
Comprehensive (loss) income attributable to Albemarle Corporation	$ (431,216)	$ 130,965	$ 87,192	$ 288,397

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 595,049	$ 746,724
Trade accounts receivable, less allowance for doubtful accounts (2021 – $2,574; 2020 – $2,083)	520,746	530,838
Other accounts receivable	56,298	61,958
Inventories	745,598	750,237
Other current assets	160,415	116,427
Total current assets	2,078,106	2,206,184
Property, plant and equipment, at cost	7,783,962	7,427,641
Less accumulated depreciation and amortization	2,128,485	2,073,016
Net property, plant and equipment	5,655,477	5,354,625
Investments	902,504	656,244
Other assets	251,786	219,268
Goodwill	1,623,471	1,665,520
Other intangibles, net of amortization	320,981	349,105
Total assets	10,832,325	10,450,946
Current liabilities:
Accounts payable	545,922	483,221
Accrued expenses	956,506	440,763
Current portion of long-term debt	611	804,677
Dividends payable	45,450	40,937
Income taxes payable	42,553	32,251
Total current liabilities	1,591,042	1,801,849
Long-term debt	2,021,487	2,767,381
Postretirement benefits	47,020	48,075
Pension benefits	299,875	340,818
Other noncurrent liabilities	617,488	629,377
Deferred income taxes	360,181	394,852
Commitments and contingencies (Note 10)
Albemarle Corporation shareholders’ equity:
Common stock, $.01 par value, issued and outstanding – 116,976 in 2021 and 106,842 in 2020	1,170	1,069
Additional paid-in capital	2,913,383	1,438,038
Accumulated other comprehensive loss	(366,436)	(326,132)
Retained earnings	3,145,999	3,155,252
Total Albemarle Corporation shareholders’ equity	5,694,116	4,268,227
Noncontrolling interests	201,116	200,367
Total equity	5,895,232	4,468,594
Total liabilities and equity	$ 10,832,325	$ 10,450,946

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,574	$ 2,083
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	116,976	106,842
Common stock, outstanding (in shares)	116,976	106,842

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, 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 (loss) 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)
Withholding taxes paid on stock-based compensation award distributions	(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 (loss) 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)
Withholding taxes paid on stock-based compensation award distributions	(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
Beginning Balance (in shares) at Dec. 31, 2020		106,842,369
Beginning Balance at Dec. 31, 2020	4,468,594	$ 1,069	1,438,038	(326,132)	3,155,252	4,268,227	200,367
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	189,473				127,496	127,496	61,977
Other comprehensive (loss) income	(40,354)			(40,304)		(40,304)	(50)
Cash dividends declared	(197,927)				(136,749)	(136,749)	(61,178)
Stock-based compensation	13,981		13,981			13,981
Fees related to public issuance of common stock	(888)		(888)			(888)
Exercise of stock options (in shares)		263,875
Exercise of stock options	16,220	$ 3	16,217			16,220
Issuance of common stock, net (in shares)		9,918,778
Issuance of common stock, net	1,453,888	$ 99	1,453,789			1,453,888
Shares withheld for withholding taxes associated with common stock issuances (in shares)		(48,704)
Withholding taxes paid on stock-based compensation award distributions	(7,755)	$ (1)	(7,754)			(7,755)
Ending Balance (in shares) at Sep. 30, 2021		116,976,318
Ending Balance at Sep. 30, 2021	5,895,232	$ 1,170	2,913,383	(366,436)	3,145,999	5,694,116	201,116
Beginning Balance (in shares) at Jun. 30, 2021		116,944,511
Beginning Balance at Jun. 30, 2021	6,365,771	$ 1,169	2,907,981	(328,001)	3,584,400	6,165,549	200,222
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(374,433)				(392,781)	(392,781)	18,348
Other comprehensive (loss) income	(38,409)			(38,435)		(38,435)	26
Cash dividends declared	(63,100)				(45,620)	(45,620)	(17,480)
Stock-based compensation	4,203		4,203			4,203
Fees related to public issuance of common stock	23		23			23
Exercise of stock options (in shares)		22,226
Exercise of stock options	1,885	$ 1	1,884			1,885
Issuance of common stock, net (in shares)		12,688
Issuance of common stock, net	0	$ 0	0			0
Shares withheld for withholding taxes associated with common stock issuances (in shares)		(3,107)
Withholding taxes paid on stock-based compensation award distributions	(708)	$ 0	(708)			(708)
Ending Balance (in shares) at Sep. 30, 2021		116,976,318
Ending Balance at Sep. 30, 2021	$ 5,895,232	$ 1,170	$ 2,913,383	$ (366,436)	$ 3,145,999	$ 5,694,116	$ 201,116

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Financial Position [Abstract]
Cash dividends declared (in dollars per share)	$ 0.39	$ 0.385	$ 1.17	$ 1.155

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Cash Flows [Abstract]
Cash and cash equivalents at beginning of year	$ 746,724	$ 613,110
Cash flows from operating activities:
Net (loss) income	189,473	344,438
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	185,765	170,214
Gain (Loss) on Disposition of Business	(428,424)	0
Stock-based compensation and other	14,668	15,864
Equity in net income of unconsolidated investments (net of tax)	(62,215)	(83,872)
Dividends received from unconsolidated investments and nonmarketable securities	43,374	61,309
Pension and postretirement benefit	(12,451)	(4,975)
Pension and postretirement contributions	(24,145)	(10,323)
Unrealized gain on investments in marketable securities	(3,912)	(3,377)
Loss on early extinguishment of debt	28,955	0
Deferred income taxes	(38,924)	7,920
Working capital changes	456,405	(167,436)
Non-cash transfer of 40% value of construction in progress of Kemerton plant to MRL	135,928	131,929
Other, net	6,089	23
Net cash provided by operating activities	490,586	461,714
Cash flows from investing activities:
Acquisitions, net of cash acquired	0	(22,572)
Capital expenditures	(652,739)	(621,371)
Proceeds from Divestiture of Businesses, Net of Cash Divested	289,791	0
Sales of marketable securities, net	4,407	1,208
Investments in equity and other corporate investments	(286)	(786)
Net cash used in investing activities	(358,827)	(643,521)
Cash flows from financing activities:
Proceeds from issuance of common stock	1,453,888	0
Repayments of long-term debt and credit agreements	(1,173,823)	(250,000)
Proceeds from borrowings of credit agreements	0	452,163
-327292000	(327,292)	202,786
Fees related to early extinguishment of debt	(24,877)	0
Dividends paid to shareholders	(132,236)	(120,836)
Dividends paid to noncontrolling interests	(61,178)	(14,286)
Proceeds from exercise of stock options	16,220	16,925
Withholding taxes paid on stock-based compensation award distributions	(7,755)	(4,803)
Other	(1,384)	(2,751)
Net cash (used in) provided by financing activities	(258,437)	279,198
Net effect of foreign exchange on cash and cash equivalents	(24,997)	(8,428)
(Decrease) increase in cash and cash equivalents	(151,675)	88,963
Cash and cash equivalents at end of period	$ 595,049	$ 702,073

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2021
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 consolidated balance sheets as of September 30, 2021 and December 31, 2020, our consolidated statements of income, consolidated statements of comprehensive income and consolidated statements of changes in equity for the three- and nine-month periods ended September 30, 2021 and 2020 and our condensed consolidated statements of cash flows for the nine-month periods ended September 30, 2021 and 2020. 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, 2020, which was filed with the U.S. Securities and Exchange Commission (“SEC”) on February 19, 2021. The December 31, 2020 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, 2021 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. Cost of goods sold for the three-month period ended September 30, 2021 includes expense of $13.5 million for the correction of out-of-period errors regarding misstated inventory foreign exchange values relating to prior periods. These misstatements in prior periods (understated) overstated Cost of goods sold by ($18.3) million and $9.6 million for the years ended December 31, 2020 and 2019, respectively, and ($4.8) million for the six months ended June 30, 2021. In addition, Income tax expense for the nine-month period ended September 30, 2021 includes expense of $7.9 million due to the correction of an out-of-period error regarding an overstated deferred tax liability for the three-month period ended December 31, 2017. The Company does not believe these are material to the consolidated financial statements for any of the prior periods presented or to the three-month period ended September 30, 2021. 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 while still protecting our employees and customers.

Business Combinations and Asset

Business Combinations and Asset Acquisitions	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions:On September 30, 2021, the Company signed a definitive agreement to acquire all of the outstanding equity of Guangxi Tianyuan New Energy Materials Co., Ltd. (“Tianyuan”), for approximately $200 million in cash. Tianyuan's operations include a recently constructed lithium processing plant strategically positioned near the Port of Qinzhou in Guangxi. The plant has designed annual conversion capacity of up to 25,000 metric tons of LCE and is capable of producing battery-grade lithium carbonate and lithium hydroxide. The plant is currently in the commissioning stage and is expected to begin commercial production in the first half of 2022. The Company expects the transaction, which is subject to customary closing conditions, to close in early 2022.

Divestitures

Divestitures	9 Months Ended
	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure	Divestitures: On June 1, 2021, the Company completed the sale of its fine chemistry services (“FCS”) business to W. R. Grace & Co. (“Grace”) for proceeds of approximately $570 million, consisting of $300 million in cash and the issuance to Albemarle of preferred equity of a Grace subsidiary having an aggregate stated value of $270 million. The preferred equity can be redeemed at Grace’s option under certain conditions and will accrue payment-in-kind (“PIK”) dividends at an annual rate of 12% beginning two years after issuance. As part of the transaction, Grace acquired our manufacturing facilities located in South Haven, Michigan and Tyrone, Pennsylvania. The sale of the FCS business reflects the Company’s commitment to investing in its core, growth-oriented business segments. During the nine-month period ended September 30, 2021 we recorded a gain of $428.4 million ($330.9 million after taxes) related to the sale of this business. We determined that this business met the assets held for sale criteria in accordance with ASC 360, Property, Plant and Equipment during the first quarter of 2021. The results of operations of the business classified as held for sale are included in the consolidated statements of income through June 1, 2021. This business did not qualify for discontinued operations treatment

Goodwill and Other Intangibles

Goodwill and Other Intangibles	9 Months Ended
	Sep. 30, 2021
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, 2021 (in thousands): Lithium Bromine Specialties Catalysts All Other Total Balance at December 31, 2020 $ 1,441,781 $ 20,319 $ 196,834 $ 6,586 $ 1,665,520 Divestitures (a) — — — (6,586) (6,586) Foreign currency translation adjustments (27,623) — (7,840) — (35,463) Balance at September 30, 2021 $ 1,414,158 $ 20,319 $ 188,994 $ — $ 1,623,471 (a) Represents goodwill of the FCS business. See Note 3, “Divestitures,” for additional information. The following table summarizes the changes in other intangibles and related accumulated amortization for the nine months ended September 30, 2021 (in thousands): Customer Lists and Relationships Trade Names and Trademarks (a) Patents and Technology Other Total Gross Asset Value Balance at December 31, 2020 $ 448,748 $ 18,710 $ 58,096 $ 39,864 $ 565,418 Divestitures (b) — — — (1,473) (1,473) Foreign currency translation adjustments and other (12,075) (484) (507) (1,070) (14,136) Balance at September 30, 2021 $ 436,673 $ 18,226 $ 57,589 $ 37,321 $ 549,809 Accumulated Amortization Balance at December 31, 2020 $ (147,286) $ (8,176) $ (39,500) $ (21,351) $ (216,313) Amortization (17,342) — (1,095) (674) (19,111) Divestitures (b) — — — 1,457 1,457 Foreign currency translation adjustments and other 4,023 111 685 320 5,139 Balance at September 30, 2021 $ (160,605) $ (8,065) $ (39,910) $ (20,248) $ (228,828) Net Book Value at December 31, 2020 $ 301,462 $ 10,534 $ 18,596 $ 18,513 $ 349,105 Net Book Value at September 30, 2021 $ 276,068 $ 10,161 $ 17,679 $ 17,073 $ 320,981 (a) Net Book Value includes only indefinite-lived intangible assets. (b) Represents other intangibles of the FCS business. See Note 3, “Divestitures,” for additional information.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes:The effective income tax rate for the three-month and nine-month periods ended September 30, 2021 was 22.2% and 10.2% compared to 25.2% and 19.8% for the three-month and nine-month periods ended September 30, 2020, respectively. The three- and nine-month periods ended September 30, 2021 include a tax benefit of $152.9 million related to an accrual recorded as a subsequent event for a legal arbitration ruling in October 2021. See Note 10, “Commitments and Contingencies,” for further details of this legal matter. The nine-month period ended September 30, 2021 also includes discrete tax expenses related to global intangible low-taxed income, tax expense due to an out-of-period adjustment regarding an overstated deferred tax liability recorded during the three-month period ended December 31, 2017 and foreign uncertain tax positions, partially offset by tax benefits related to the release of a foreign valuation allowance, excess tax benefits realized from stock-based compensation arrangements, and the revaluation of deferred taxes due to tax rate changes. The Company’s effective income tax rate fluctuates based on, among other factors, the amount 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, 2021 and September 30, 2020 was impacted by a variety of factors, primarily stemming from the location in which income was earned. In addition, the nine-month period ended September 30, 2021 includes $97.5 million in tax expense recorded for the gain on the sale of the FCS business, offset by the tax benefit for the legal arbitration ruling noted above and a benefit from foreign rate differences

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
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, 2021 and 2020 are calculated as follows (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Basic earnings per share Numerator: Net (loss) income attributable to Albemarle Corporation $ (392,781) $ 98,301 $ 127,496 $ 291,129 Denominator: Weighted-average common shares for basic earnings per share 116,965 106,386 115,455 106,314 Basic (loss) earnings per share $ (3.36) $ 0.92 $ 1.10 $ 2.74 Diluted earnings per share Numerator: Net (loss) income attributable to Albemarle Corporation $ (392,781) $ 98,301 $ 127,496 $ 291,129 Denominator: Weighted-average common shares for basic earnings per share 116,965 106,386 115,455 106,314 Incremental shares under stock compensation plans — 487 685 326 Weighted-average common shares for diluted earnings per share 116,965 106,873 116,140 106,640 Diluted (loss) earnings per share $ (3.36) $ 0.92 $ 1.10 $ 2.73 On February 8, 2021, we completed an underwritten public offering of 8,496,773 shares of our common stock, par value $0.01 per share, at a price to the public of $153.00 per share. The Company also granted to the underwriters an option to purchase up to an additional 1,274,509 shares, which was exercised. The total gross proceeds from this offering were approximately $1.5 billion, before deducting expenses, underwriting discounts and commissions. The net proceeds were used for debt repayments and general corporate purposes. See Note 9, “Long-Term Debt,” for further details. On July 20, 2021, the Company declared a cash dividend of $0.39, an increase from the prior year regular quarterly dividend. This dividend was paid on October 1, 2021 to shareholders of record at the close of business as of September 17, 2021. On October 25, 2021, the Company declared a cash dividend of $0.39 per share, which is payable on January 3, 2022 to shareholders of record at the close of business as of December 17, 2021.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories: The following table provides a breakdown of inventories at September 30, 2021 and December 31, 2020 (in thousands): September 30, December 31, 2021 2020 Finished goods $ 426,616 $ 454,162 Raw materials and work in process (a) 240,881 219,896 Stores, supplies and other 78,101 76,179 Total $ 745,598 $ 750,237 (a) Included $145.0 million and $129.6 million at September 30, 2021 and December 31, 2020, respectively, of work in process in our Lithium segment.

Investments

Investments	9 Months Ended
	Sep. 30, 2021
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 $469.4 million and $479.6 million at September 30, 2021 and December 31, 2020, 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 $8.2 million and $8.0 million at September 30, 2021 and December 31, 2020, respectively. Our unconsolidated VIEs are reported in Investments on the 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. As part of the proceeds from the sale of the FCS business on June 1, 2021, Grace issued Albemarle preferred equity of a Grace subsidiary having an aggregate stated value of $270 million. The preferred equity can be redeemed at Grace’s option under certain conditions and will accrue PIK dividends at an annual rate of 12% beginning two years after issuance. This preferred equity has a fair value of $248.8 million at September 30, 2021, which is reported in Investments in the consolidated balance sheets.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-term Debt	Long-Term Debt: Long-term debt at September 30, 2021 and December 31, 2020 consisted of the following (in thousands): September 30, December 31, 2021 2020 1.125% notes due 2025 $ 441,090 $ 610,800 1.625% notes due 2028 584,800 610,800 1.875% Senior notes due 2021 — 480,007 3.45% Senior notes due 2029 171,612 300,000 4.15% Senior notes due 2024 425,000 425,000 5.45% Senior notes due 2044 350,000 350,000 Floating rate notes — 200,000 Credit facilities — 223,900 Commercial paper notes — 325,000 Variable-rate foreign bank loans 5,404 7,702 Finance lease obligations 58,579 59,181 Unamortized discount and debt issuance costs (14,387) (20,332) Total long-term debt 2,022,098 3,572,058 Less amounts due within one year 611 804,677 Long-term debt, less current portion $ 2,021,487 $ 2,767,381 In the first quarter of 2021, the Company made the following debt principal payments using proceeds from the February 2021 underwritten public offering of common stock: • €123.8 million of the 1.125% notes due in November 2025 • €393.0 million, the remaining balance, of the 1.875% Senior notes originally due in December 2021 • $128.4 million of the 3.45% Senior notes due in November 2029 • $200.0 million, the remaining balance, of the floating rate notes originally due in November 2022 • €183.3 million, the outstanding balance, of the unsecured credit facility originally entered into on August 14, 2019, as amended and restated on December 15, 2020 • $325.0 million, the outstanding balance, of the commercial paper notes

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
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, 2021 (in thousands): Beginning balance at December 31, 2020 $ 45,771 Expenditures (1,529) Accretion of discount 723 Additions and changes in estimates 1,576 Foreign currency translation adjustments and other (814) Ending balance at September 30, 2021 45,727 Less amounts reported in Accrued expenses 9,850 Amounts reported in Other noncurrent liabilities $ 35,877 Environmental remediation liabilities included discounted liabilities of $38.2 million and $39.2 million at September 30, 2021 and December 31, 2020, respectively, discounted at rates with a weighted-average of 3.5%, and with the undiscounted amount totaling $71.2 million and $73.6 million at September 30, 2021 and December 31, 2020, 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 $37 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. On February 6, 2017, Huntsman International LLC (“Huntsman”), a subsidiary of Huntsman Corporation, filed a lawsuit in New York state court against Rockwood Holdings, Inc. (“Rockwood”), Rockwood Specialties, Inc., certain former executives of Rockwood and its subsidiaries—Seifollah Ghasemi, Thomas Riordan, Andrew Ross, and Michael Valente, and Albemarle. The lawsuit arises out of Huntsman’s acquisition of certain Rockwood subsidiaries in connection with a stock purchase agreement (the “SPA”), dated September 17, 2013. Before that transaction closed on October 1, 2014, Albemarle began discussions with Rockwood to purchase all outstanding equity of Rockwood and did so in a transaction that closed on January 12, 2015. Huntsman’s complaint asserted that certain technology that Rockwood had developed for a production facility in Augusta, Georgia, and which was among the assets that Huntsman acquired pursuant to the SPA, did not work, and that Rockwood and the defendant executives had intentionally misled Huntsman about that technology in connection with the Huntsman-Rockwood transaction. The complaint asserted claims for, among other things, fraud, negligent misrepresentation, and breach of the SPA, and sought certain costs for completing construction of the production facility. On March 10, 2017, Albemarle moved in New York state court to compel arbitration, which was granted on January 8, 2018 (although Huntsman unsuccessfully appealed that decision). Huntsman’s arbitration demand asserted claims substantially similar to those asserted in its state court complaint, and sought various forms of legal remedies, including cost overruns, compensatory damages, expectation damages, punitive damages, and restitution. After a trial, the arbitration panel issued an award on October 28, 2021, awarding approximately $600 million (including interest) to be paid by Albemarle to Huntsman, in addition to the possibility of attorney’s fees, costs and expenses. Albemarle continues to assess its legal rights and options. Albemarle and Huntsman have initiated discussions regarding a resolution of the matter. Based on our review of the decision by the AAA arbitration panel, Albemarle has decided to view the decision as representing the best estimate available of the outcome of this arbitration. As a result, the consolidated statements of income for the three and nine months ended September 30, 2021, includes a loss of $657.4 million ($504.5 million net of income tax), inclusive of estimated possible legal fees incurred by Huntsman and other related obligations, to reflect the increase in liabilities for this legal matter. In addition, as first 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”), the SEC, and the Dutch Public Prosecutor (“DPP”), and are cooperating with the DOJ, the SEC, and the DPP in their review of these matters. In connection with our internal investigation, we have implemented, and are continuing to implement, appropriate remedial measures. We have commenced discussions with the SEC about a potential resolution. At this time, we are unable to predict the duration, scope, result, or related costs associated with the investigations. We also are unable to predict what action may be taken by the DOJ, the SEC, or the DPP, or what penalties or remedial actions they may ultimately seek. Any determination that our operations or activities are not, or were 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 such fines, penalties, disgorgement, equitable relief, or other losses would have a material adverse effect on our financial condition or liquidity. However, an adverse resolution could have a material adverse effect on our results of operations in a particular period. 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 $27.9 million and $30.5 million at September 30, 2021 and December 31, 2020, respectively, recorded in Other noncurrent liabilities, primarily 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, 2021
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, 2021 and 2020 (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Operating lease cost $ 13,807 $ 8,085 $ 32,954 $ 25,298 Finance lease cost: Amortization of right of use assets 153 126 466 433 Interest on lease liabilities 722 697 2,229 1,977 Total finance lease cost 875 823 2,695 2,410 Short-term lease cost 2,949 3,427 7,729 9,824 Variable lease cost 2,441 2,312 6,619 6,344 Total lease cost $ 20,072 $ 14,647 $ 49,997 $ 43,876 Supplemental cash flow information related to our lease contracts for the nine-month periods ended September 30, 2021 and 2020 is as follows (in thousands): Nine Months Ended September 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 24,462 $ 28,074 Operating cash flows from finance leases 1,295 1,156 Financing cash flows from finance leases 471 513 Right-of-use assets obtained in exchange for lease obligations: Operating leases 57,136 17,197 Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at September 30, 2021 and December 31, 2020 is as follows (in thousands, except as noted): September 30, 2021 December 31, 2020 Operating leases: Other assets $ 165,970 $ 136,292 Accrued expenses 33,862 22,297 Other noncurrent liabilities 136,552 116,765 Total operating lease liabilities 170,414 139,062 Finance leases: Net property, plant and equipment 58,375 58,963 Current portion of long-term debt (a) 2,658 1,752 Long-term debt 57,968 58,543 Total finance lease liabilities 60,626 60,295 Weighted average remaining lease term (in years): Operating leases 12.6 15.3 Finance leases 27.0 27.5 Weighted average discount rate (%): Operating leases 3.46 % 3.94 % Finance leases 4.57 % 4.56 % (a) Balance includes accrued interest of finance lease recorded in Accrued liabilities. Maturities of lease liabilities at September 30, 2021 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2021 $ 10,126 $ 542 2022 38,503 4,448 2023 34,453 4,448 2024 20,984 4,448 2025 14,714 4,448 Thereafter 131,456 89,916 Total lease payments 250,236 108,250 Less imputed interest 79,822 47,624 Total $ 170,414 $ 60,626
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, 2021 and 2020 (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Operating lease cost $ 13,807 $ 8,085 $ 32,954 $ 25,298 Finance lease cost: Amortization of right of use assets 153 126 466 433 Interest on lease liabilities 722 697 2,229 1,977 Total finance lease cost 875 823 2,695 2,410 Short-term lease cost 2,949 3,427 7,729 9,824 Variable lease cost 2,441 2,312 6,619 6,344 Total lease cost $ 20,072 $ 14,647 $ 49,997 $ 43,876 Supplemental cash flow information related to our lease contracts for the nine-month periods ended September 30, 2021 and 2020 is as follows (in thousands): Nine Months Ended September 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 24,462 $ 28,074 Operating cash flows from finance leases 1,295 1,156 Financing cash flows from finance leases 471 513 Right-of-use assets obtained in exchange for lease obligations: Operating leases 57,136 17,197 Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at September 30, 2021 and December 31, 2020 is as follows (in thousands, except as noted): September 30, 2021 December 31, 2020 Operating leases: Other assets $ 165,970 $ 136,292 Accrued expenses 33,862 22,297 Other noncurrent liabilities 136,552 116,765 Total operating lease liabilities 170,414 139,062 Finance leases: Net property, plant and equipment 58,375 58,963 Current portion of long-term debt (a) 2,658 1,752 Long-term debt 57,968 58,543 Total finance lease liabilities 60,626 60,295 Weighted average remaining lease term (in years): Operating leases 12.6 15.3 Finance leases 27.0 27.5 Weighted average discount rate (%): Operating leases 3.46 % 3.94 % Finance leases 4.57 % 4.56 % (a) Balance includes accrued interest of finance lease recorded in Accrued liabilities. Maturities of lease liabilities at September 30, 2021 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2021 $ 10,126 $ 542 2022 38,503 4,448 2023 34,453 4,448 2024 20,984 4,448 2025 14,714 4,448 Thereafter 131,456 89,916 Total lease payments 250,236 108,250 Less imputed interest 79,822 47,624 Total $ 170,414 $ 60,626

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
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 FCS business that does not fit into any of our core businesses. On June 1, 2021, we completed the sale of the FCS business. See Note 3, “Divestitures,” for additional information. Amounts in the “All Other” category represent activity in this business until divested on June 1, 2021. The Corporate category is not considered to be a segment and includes corporate-related items not allocated to the operating segments. Pension and other post-employment benefit (“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 and financing expenses, income tax expenses, depreciation and amortization, as adjusted on a consistent basis for certain non-operating, non-recurring or unusual items in a balanced manner and on a segment basis. These non-operating, non-recurring or unusual items may include acquisition and integration related costs, gains or losses on sales of businesses, restructuring charges, facility divestiture charges, certain litigation and arbitration costs and charges, non-operating pension and OPEB items and other significant non-recurring items. In addition, management uses adjusted EBITDA for business and enterprise 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 (loss) 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 2021 2020 2021 2020 (In thousands) (In thousands) Net sales: Lithium $ 359,229 $ 265,646 $ 958,539 $ 786,186 Bromine Specialties 277,783 237,193 837,978 701,564 Catalysts 193,554 197,919 562,141 602,179 All Other — 46,110 75,095 159,833 Total net sales $ 830,566 $ 746,868 $ 2,433,753 $ 2,249,762 Adjusted EBITDA: Lithium $ 125,416 $ 97,789 $ 341,293 $ 270,962 Bromine Specialties 86,012 79,448 273,298 235,751 Catalysts 33,103 37,834 79,694 108,081 All Other — 24,985 29,858 66,407 Corporate (26,962) (24,001) (81,892) (83,588) Total adjusted EBITDA $ 217,569 $ 216,055 $ 642,251 $ 597,613 See below for a reconciliation of adjusted EBITDA, the non-GAAP financial measure, from Net (loss) 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, 2021 Net income (loss) attributable to Albemarle Corporation $ 92,449 $ 73,409 $ 20,039 $ 185,897 $ — $ (578,678) $ (392,781) Depreciation and amortization 34,256 12,603 13,064 59,923 — 2,159 62,082 Restructuring and other (a) — — — — — 754 754 Gain on sale of business (b) — — — — — 984 984 Acquisition and integration related costs (c) — — — — — 1,553 1,553 Interest and financing expenses — — — — — 5,136 5,136 Income tax expense — — — — — (114,670) (114,670) Non-operating pension and OPEB items — — — — — (5,471) (5,471) Legal accrual (d) — — — — — 657,412 657,412 Other (e) (1,289) — — (1,289) — 3,859 2,570 Adjusted EBITDA $ 125,416 $ 86,012 $ 33,103 $ 244,531 $ — $ (26,962) $ 217,569 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 (c) — — — — — 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 (f) — — — — — 3,917 3,917 Adjusted EBITDA $ 97,789 $ 79,448 $ 37,834 $ 215,071 $ 24,985 $ (24,001) $ 216,055 Nine months ended September 30, 2021 Net income (loss) attributable to Albemarle Corporation $ 237,293 $ 235,670 $ 41,401 $ 514,364 $ 27,988 $ (414,856) $ 127,496 Depreciation and amortization 99,559 37,628 38,293 175,480 1,870 8,415 185,765 Restructuring and other (a) — — — — — 2,294 2,294 Gain on sale of business (b) — — — — — (428,424) (428,424) Acquisition and integration related costs (c) — — — — — 5,629 5,629 Interest and financing expenses (g) — — — — — 56,170 56,170 Income tax expense — — — — — 14,422 14,422 Non-operating pension and OPEB items — — — — — (16,407) (16,407) Legal accrual (d) — — — — — 657,412 657,412 Albemarle Foundation contribution (h) — — — — — 20,000 20,000 Other (e) 4,441 — — 4,441 — 13,453 17,894 Adjusted EBITDA $ 341,293 $ 273,298 $ 79,694 $ 694,285 $ 29,858 $ (81,892) $ 642,251 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 (c) — — — — — 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 (f) — — — — — 1,304 1,304 Adjusted EBITDA $ 270,962 $ 235,751 $ 108,081 $ 614,794 $ 66,407 $ (83,588) $ 597,613 (a) In 2021, we recorded facility closure related to offices in Germany, and severance expenses in Germany and Belgium, in Selling, general and administrative expenses (“SG&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 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. (b) See Note 3, “Divestitures,” for additional information. (c) Costs related to the acquisition, integration and potential divestitures for various significant projects, recorded in SG&A. (d) Loss recorded in Other expense, net in the three months ended September 30, 2021 related to an arbitration ruling for the Huntsman legal matter. See Note 10, “Commitments and Contingencies,” for further details. (e) Included amounts for the three months ended September 30, 2021 recorded in: • SG&A - $2.5 million of expenses primarily related to non-routine labor and compensation related costs that are outside normal compensation arrangements. • Other expense, net - $0.1 million of a loss resulting from the adjustment of indemnifications related to previously disposed businesses. Included amounts for the nine months ended September 30, 2021 recorded in: • SG&A - $8.6 million of expenses primarily related to non-routine labor and compensation related costs that are outside normal compensation arrangements, a $4.0 million loss resulting from the sale of property, plant and equipment and $1.6 million of charges for an environmental reserve at a site not part of our operations. • Other expense, net - $3.7 million of expenses primarily related to asset retirement obligation charges to update of an estimate at a site formerly owned by Albemarle. (f) Included amounts for the three months ended September 30, 2020 recorded in: • SG&A - $3.8 million of a net expense primarily related to the increase of environmental reserves at non-operating businesses we had previously divested. • Other expense, 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 related to the increase of environmental reserves at non-operating businesses we had previously divested. ▪ Other expense, net - $2.5 million net gain resulting from the settlement of legal matters related to a business sold and $0.8 million net gain primarily related 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. (g) Included in Interest and financing expenses is a loss on early extinguishment of debt of $29.0 million for the nine months ended September 30, 2021, respectively. See Note 9, “Long-Term Debt,” for additional information. (h) Included in SG&A is a charitable contribution, using a portion of the proceeds received from the FCS divestiture, to the Albemarle Foundation, a non-profit organization that sponsors grants, health and social projects, educational initiatives, disaster relief, matching gift programs, scholarships and other charitable initiatives in locations where our employees live and the Company operates. This contribution is in addition to the normal annual contribution made to the Albemarle Foundation by the Company, and is significant in size and nature in that it is intended to provide more long-term benefits in these communities.

Pension Plans and Other Postret

Pension Plans and Other Postretirement Benefits	9 Months Ended
	Sep. 30, 2021
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, 2021 and 2020 were as follows (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Pension Benefits Cost (Credit): Service cost $ 1,425 $ 1,202 $ 3,776 $ 3,623 Interest cost 5,113 6,696 15,352 20,049 Expected return on assets (10,893) (10,065) (32,687) (30,156) Amortization of prior service benefit 29 9 87 27 Total net pension benefits credit $ (4,326) $ (2,158) $ (13,472) $ (6,457) Postretirement Benefits Cost: Service cost $ 31 $ 27 $ 93 $ 79 Interest cost 309 468 928 1,403 Total net postretirement benefits cost $ 340 $ 495 $ 1,021 $ 1,482 Total net pension and postretirement benefits credit $ (3,986) $ (1,663) $ (12,451) $ (4,975) All components of net benefit cost (credit), other than service cost, are included in Other expense, net on the consolidated statements of income. During the three-month and nine-month periods ended September 30, 2021, we made contributions of $3.2 million and $22.1 million, respectively, to our qualified and nonqualified pension plans. 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. We paid $0.7 million and $2.1 million, respectively, in premiums to the U.S. postretirement benefit plan during the three-month and nine-month periods ended September 30, 2021, respectively. During the three-month and nine-month periods ended September 30, 2020, we paid $0.9 million and $2.5 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, 2021
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 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, 2021 December 31, 2020 Recorded Fair Value Recorded Fair Value (In thousands) Long-term debt $ 2,033,469 $ 2,235,877 $ 3,588,157 $ 3,783,225 Foreign Currency Forward Contracts—During the fourth quarter of 2019, we entered into a foreign currency forward contract 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, 2021 and December 31, 2020, we had outstanding designated foreign currency forward contracts with notional values totaling the equivalent of $127.1 million and $75.4 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, 2021 and December 31, 2020, we had outstanding non-designated foreign currency forward contracts with notional values totaling $593.1 million and $611.1 million, respectively, hedging our exposure to various currencies including the Euro, Australian Dollar, Taiwanese Dollar, Chinese Renminbi and Chilean Peso. The following table summarizes the fair value of our foreign currency forward contracts included in the consolidated balance sheets as of September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Assets Liabilities Assets Liabilities Designated as hedging instruments (a) $ 1,961 $ 93 $ 7,043 $ — Not Designated as hedging instruments (b) 2,675 4,101 6,563 4,803 Total $ 4,636 $ 4,194 $ 13,606 $ 4,803 (a) Included $2.0 million in Other current assets and $0.1 million in Accrued expenses at September 30, 2021, and $6.2 million in Other current assets and $0.9 million in Other assets at December 31, 2020. (b) Included $2.7 million in Other current assets and $4.1 million in Accrued expenses at September 30, 2021 and $6.6 million in Other current assets and $4.8 million in Accrued expenses at December 31, 2020. 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, 2021 and 2020 (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Designated as hedging instruments Income (loss) recognized in Other comprehensive (loss) income $ 214 $ 6,993 $ (563) $ (6,822) Not designated as hedging instruments (Loss) income recognized in Other expense, net (a) $ (1,199) $ 3,102 $ 658 $ (5,201) (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 expense, net. In addition, for the nine-month periods ended September 30, 2021 and 2020, we recorded net cash receipts (settlements) of $0.8 million and ($25.5) million, respectively, in Other, net, in our condensed consolidated statements of cash flows. As of September 30, 2021, there are no unrealized gains or losses related to the cash flow hedges 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, 2021
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, 2021 and December 31, 2020 (in thousands): September 30, 2021 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: Available for sale debt securities (a) $ 248,775 $ — $ — $ 248,775 Investments under executive deferred compensation plan (b) $ 31,952 $ 31,952 $ — $ — Private equity securities measured at net asset value (c)(d) $ 4,695 $ — $ — $ — Foreign currency forward contracts (e) $ 4,636 $ — $ 4,636 $ — Liabilities: Obligations under executive deferred compensation plan (b) $ 31,952 $ 31,952 $ — $ — Foreign currency forward contracts (e) $ 4,194 $ — $ 4,194 $ — December 31, 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 (b) $ 32,447 $ 32,447 $ — $ — Private equity securities measured at net asset value (c)(d) $ 4,661 $ — $ — $ — Foreign currency forward contracts (e) $ 13,606 $ — $ 13,606 $ — Liabilities: Obligations under executive deferred compensation plan (b) $ 32,447 $ 32,447 $ — $ — Foreign currency forward contracts (e) $ 4,803 $ — $ 4,803 $ — (a) Preferred equity of a Grace subsidiary acquired as a portion of the proceeds of the FCS sale on June 1, 2021. See Note 2, “Divestitures,” for further details on the material terms and conditions. A third-party estimate of the fair value was prepared using expected future cash flows over the period up to when the asset is likely to be redeemed, applying a discount rate that appropriately captures a market participant's view of the risk associated with the investment. These are considered to be Level 3 inputs. (b) 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. (c) Primarily consists of private equity securities reported in Investments in the consolidated balance sheets. The changes in fair value are reported in Other expense, net, in our consolidated statements of income. (d) 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. (e) 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 14, “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, 2021
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 and Other Net Investment Hedge (a) Cash Flow Hedge (b) Interest Rate Swap (c) Total Three months ended September 30, 2021 Balance at June 30, 2021 $ (324,951) $ — $ 5,672 $ (8,722) $ (328,001) Other comprehensive (loss) income before reclassifications (39,295) — 214 — (39,081) Amounts reclassified from accumulated other comprehensive loss 21 — — 651 672 Other comprehensive (loss) income, net of tax (39,274) — 214 651 (38,409) Other comprehensive income attributable to noncontrolling interests (26) — — — (26) Balance at September 30, 2021 $ (364,251) $ — $ 5,886 $ (8,071) $ (366,436) Three months ended September 30, 2020 Balance at June 30, 2020 $ (487,939) $ 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 37,499 (12,408) 6,993 647 32,731 Other comprehensive loss attributable to noncontrolling interests (67) — — — (67) Balance at September 30, 2020 $ (450,507) $ 64,695 $ (1,975) $ (10,680) $ (398,467) Nine months ended September 30, 2021 Balance at December 31, 2020 $ (369,152) $ 46,593 $ 6,449 $ (10,022) $ (326,132) Other comprehensive (loss) income before reclassifications (46,923) 5,110 (563) — (42,376) Amounts reclassified from accumulated other comprehensive loss 71 — — 1,951 2,022 Other comprehensive (loss) income, net of tax (46,852) 5,110 (563) 1,951 (40,354) Amounts reclassified within accumulated other comprehensive loss 51,703 (51,703) — — — Other comprehensive income attributable to noncontrolling interests 50 — — — 50 Balance at September 30, 2021 $ (364,251) $ — $ 5,886 $ (8,071) $ (366,436) Nine months ended September 30, 2020 Balance at December 31, 2019 $ (468,737) $ 80,778 $ 4,847 $ (12,623) $ (395,735) Other comprehensive 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 (loss) income, net of tax 18,377 (16,083) (6,822) 1,943 (2,585) Other comprehensive loss attributable to noncontrolling interests (147) — — — (147) Balance at September 30, 2020 $ (450,507) $ 64,695 $ (1,975) $ (10,680) $ (398,467) (a) During the first quarter of 2021 the net investment hedge was discontinued following the repayment of the 1.875% Euro-denominated senior notes. The balance of foreign exchange revaluation gains and losses associated with this discontinued net investment hedge have been reclassified to Foreign currency translation and other, and will remain within accumulated other comprehensive loss until the hedged net investment is sold or liquidated. (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 14, “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, 2021 and 2020 is provided in the following tables (in thousands): Foreign Currency Translation and Other Net Investment Hedge Cash Flow Hedge Interest Rate Swap Three months ended September 30, 2021 Other comprehensive (loss) income, before tax $ (39,266) $ — $ 214 $ 834 Income tax expense (8) — — (183) Other comprehensive (loss) income, net of tax $ (39,274) $ — $ 214 $ 651 Three months ended September 30, 2020 Other comprehensive income (loss), before tax $ 37,504 $ (16,029) $ 6,993 $ 834 Income tax (expense) benefit (5) 3,621 — (187) Other comprehensive income (loss), net of tax $ 37,499 $ (12,408) $ 6,993 $ 647 Nine months ended September 30, 2021 Other comprehensive (loss) income, before tax $ (46,836) $ 6,552 $ (563) $ 2,502 Income tax expense (16) (1,442) — (551) Other comprehensive (loss) income, net of tax $ (46,852) $ 5,110 $ (563) $ 1,951 Nine months ended September 30, 2020 Other comprehensive income (loss), before tax $ 18,380 $ (20,755) $ (6,822) $ 2,502 Income tax (expense) benefit (3) 4,672 — (559) Other comprehensive income (loss), net of tax $ 18,377 $ (16,083) $ (6,822) $ 1,943

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2021
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 2021 2020 2021 2020 Sales to unconsolidated affiliates $ 5,629 $ 4,863 $ 16,357 $ 17,361 Purchases from unconsolidated affiliates (a) $ 55,540 $ 10,742 $ 144,461 $ 142,366 (a) Purchases from unconsolidated affiliates primarily relate to purchases from our Windfield joint venture. Our 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, 2021 December 31, 2020 Receivables from unconsolidated affiliates $ 1,782 $ 4,098 Payables to unconsolidated affiliates $ 36,744 $ 30,123

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2021
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 2021 2020 Supplemental non-cash disclosure related to investing activities: Capital expenditures included in Accounts payable $ 157,743 $ 167,393 Non-cash proceeds from divestitures (a) $ 244,530 $ — (a) Fair value of preferred equity of a Grace subsidiary received as part of proceeds for the sale of our FCS business. See Note 3, “Divestitures,” for further details. As part of the purchase price paid for the acquisition of a 60% interest in the Mineral Resources Ltd. (“MRL”) Wodgina Project, the Company transferred $135.9 million and $131.9 million of its construction in progress of the designated Kemerton assets during the nine months ended September 30, 2021 and 2020, respectively, representing MRL’s 40% interest in the assets. Since the acquisition, we have transferred the full $480.0 million of construction in progress to MRL, as defined in the purchase agreement. 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 non-cash transfer of these assets is recorded in Non-cash transfer of 40% value of construction in progress of the Kemerton plant to MRL within Cash flows from operating activities on the consolidated statements of cash flows. Other, net within Cash flows from operating activities on the condensed consolidated statements of cash flows for the nine months ended September 30, 2021 and 2020 included $28.7 million and $30.4 million, respectively, representing the reclassification of the current portion of the one-time transition tax resulting from the enactment of the U.S. Tax Cuts and Jobs Act, from Other noncurrent liabilities to Income taxes payable within current liabilities.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements: In December 2019, the Financial Accounting Standards Board (“FASB”) issued accounting guidance that simplifies the accounting for income taxes by removing certain exceptions to the general principles in Accounting Standards Codification (“ASC”) Topic 740. The amendments also improve consistent application of and simplify U.S. GAAP for other areas of ASC Topic 740 by clarifying and amending existing guidance. This guidance became effective on January 1, 2020 and did not have a significant impact on our consolidated financial statements. In March 2020, the FASB issued accounting guidance that provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The guidance applies only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued additional accounting guidance which clarifies that certain optional expedients and exceptions apply to derivatives that are affected by the discounting transition. The guidance under both FASB issuances is effective March 12, 2020 through December 31, 2022. We currently do not expect this guidance to have a significant impact on our consolidated financial statements.

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	In December 2019, the Financial Accounting Standards Board (“FASB”) issued accounting guidance that simplifies the accounting for income taxes by removing certain exceptions to the general principles in Accounting Standards Codification (“ASC”) Topic 740. The amendments also improve consistent application of and simplify U.S. GAAP for other areas of ASC Topic 740 by clarifying and amending existing guidance. This guidance became effective on January 1, 2020 and did not have a significant impact on our consolidated financial statements. In March 2020, the FASB issued accounting guidance that provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The guidance applies only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued additional accounting guidance which clarifies that certain optional expedients and exceptions apply to derivatives that are affected by the discounting transition. The guidance under both FASB issuances is effective March 12, 2020 through December 31, 2022. We currently do not expect this guidance to have a significant impact on our consolidated financial statements.

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2021 (in thousands): Lithium Bromine Specialties Catalysts All Other Total Balance at December 31, 2020 $ 1,441,781 $ 20,319 $ 196,834 $ 6,586 $ 1,665,520 Divestitures (a) — — — (6,586) (6,586) Foreign currency translation adjustments (27,623) — (7,840) — (35,463) Balance at September 30, 2021 $ 1,414,158 $ 20,319 $ 188,994 $ — $ 1,623,471 (a) Represents goodwill of the FCS business. See Note 3, “Divestitures,” 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, 2021 (in thousands): Customer Lists and Relationships Trade Names and Trademarks (a) Patents and Technology Other Total Gross Asset Value Balance at December 31, 2020 $ 448,748 $ 18,710 $ 58,096 $ 39,864 $ 565,418 Divestitures (b) — — — (1,473) (1,473) Foreign currency translation adjustments and other (12,075) (484) (507) (1,070) (14,136) Balance at September 30, 2021 $ 436,673 $ 18,226 $ 57,589 $ 37,321 $ 549,809 Accumulated Amortization Balance at December 31, 2020 $ (147,286) $ (8,176) $ (39,500) $ (21,351) $ (216,313) Amortization (17,342) — (1,095) (674) (19,111) Divestitures (b) — — — 1,457 1,457 Foreign currency translation adjustments and other 4,023 111 685 320 5,139 Balance at September 30, 2021 $ (160,605) $ (8,065) $ (39,910) $ (20,248) $ (228,828) Net Book Value at December 31, 2020 $ 301,462 $ 10,534 $ 18,596 $ 18,513 $ 349,105 Net Book Value at September 30, 2021 $ 276,068 $ 10,161 $ 17,679 $ 17,073 $ 320,981 (a) Net Book Value includes only indefinite-lived intangible assets. (b) Represents other intangibles of the FCS business. See Note 3, “Divestitures,” for additional information.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2021 and 2020 are calculated as follows (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Basic earnings per share Numerator: Net (loss) income attributable to Albemarle Corporation $ (392,781) $ 98,301 $ 127,496 $ 291,129 Denominator: Weighted-average common shares for basic earnings per share 116,965 106,386 115,455 106,314 Basic (loss) earnings per share $ (3.36) $ 0.92 $ 1.10 $ 2.74 Diluted earnings per share Numerator: Net (loss) income attributable to Albemarle Corporation $ (392,781) $ 98,301 $ 127,496 $ 291,129 Denominator: Weighted-average common shares for basic earnings per share 116,965 106,386 115,455 106,314 Incremental shares under stock compensation plans — 487 685 326 Weighted-average common shares for diluted earnings per share 116,965 106,873 116,140 106,640 Diluted (loss) earnings per share $ (3.36) $ 0.92 $ 1.10 $ 2.73

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Breakdown of Inventories	The following table provides a breakdown of inventories at September 30, 2021 and December 31, 2020 (in thousands): September 30, December 31, 2021 2020 Finished goods $ 426,616 $ 454,162 Raw materials and work in process (a) 240,881 219,896 Stores, supplies and other 78,101 76,179 Total $ 745,598 $ 750,237 (a) Included $145.0 million and $129.6 million at September 30, 2021 and December 31, 2020, respectively, of work in process in our Lithium segment.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt at September 30, 2021 and December 31, 2020 consisted of the following (in thousands): September 30, December 31, 2021 2020 1.125% notes due 2025 $ 441,090 $ 610,800 1.625% notes due 2028 584,800 610,800 1.875% Senior notes due 2021 — 480,007 3.45% Senior notes due 2029 171,612 300,000 4.15% Senior notes due 2024 425,000 425,000 5.45% Senior notes due 2044 350,000 350,000 Floating rate notes — 200,000 Credit facilities — 223,900 Commercial paper notes — 325,000 Variable-rate foreign bank loans 5,404 7,702 Finance lease obligations 58,579 59,181 Unamortized discount and debt issuance costs (14,387) (20,332) Total long-term debt 2,022,098 3,572,058 Less amounts due within one year 611 804,677 Long-term debt, less current portion $ 2,021,487 $ 2,767,381

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2021 (in thousands): Beginning balance at December 31, 2020 $ 45,771 Expenditures (1,529) Accretion of discount 723 Additions and changes in estimates 1,576 Foreign currency translation adjustments and other (814) Ending balance at September 30, 2021 45,727 Less amounts reported in Accrued expenses 9,850 Amounts reported in Other noncurrent liabilities $ 35,877

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Lease, Cost	The following table provides details of our lease contracts for the three-month and nine-month periods ended September 30, 2021 and 2020 (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Operating lease cost $ 13,807 $ 8,085 $ 32,954 $ 25,298 Finance lease cost: Amortization of right of use assets 153 126 466 433 Interest on lease liabilities 722 697 2,229 1,977 Total finance lease cost 875 823 2,695 2,410 Short-term lease cost 2,949 3,427 7,729 9,824 Variable lease cost 2,441 2,312 6,619 6,344 Total lease cost $ 20,072 $ 14,647 $ 49,997 $ 43,876 Supplemental cash flow information related to our lease contracts for the nine-month periods ended September 30, 2021 and 2020 is as follows (in thousands): Nine Months Ended September 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 24,462 $ 28,074 Operating cash flows from finance leases 1,295 1,156 Financing cash flows from finance leases 471 513 Right-of-use assets obtained in exchange for lease obligations: Operating leases 57,136 17,197
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, 2021 and December 31, 2020 is as follows (in thousands, except as noted): September 30, 2021 December 31, 2020 Operating leases: Other assets $ 165,970 $ 136,292 Accrued expenses 33,862 22,297 Other noncurrent liabilities 136,552 116,765 Total operating lease liabilities 170,414 139,062 Finance leases: Net property, plant and equipment 58,375 58,963 Current portion of long-term debt (a) 2,658 1,752 Long-term debt 57,968 58,543 Total finance lease liabilities 60,626 60,295 Weighted average remaining lease term (in years): Operating leases 12.6 15.3 Finance leases 27.0 27.5 Weighted average discount rate (%): Operating leases 3.46 % 3.94 % Finance leases 4.57 % 4.56 %
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities at September 30, 2021 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2021 $ 10,126 $ 542 2022 38,503 4,448 2023 34,453 4,448 2024 20,984 4,448 2025 14,714 4,448 Thereafter 131,456 89,916 Total lease payments 250,236 108,250 Less imputed interest 79,822 47,624 Total $ 170,414 $ 60,626
Finance Lease, Liability, Maturity	Maturities of lease liabilities at September 30, 2021 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2021 $ 10,126 $ 542 2022 38,503 4,448 2023 34,453 4,448 2024 20,984 4,448 2025 14,714 4,448 Thereafter 131,456 89,916 Total lease payments 250,236 108,250 Less imputed interest 79,822 47,624 Total $ 170,414 $ 60,626

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Reportable Segments Summarized Financial Information	Three Months Ended Nine Months Ended 2021 2020 2021 2020 (In thousands) (In thousands) Net sales: Lithium $ 359,229 $ 265,646 $ 958,539 $ 786,186 Bromine Specialties 277,783 237,193 837,978 701,564 Catalysts 193,554 197,919 562,141 602,179 All Other — 46,110 75,095 159,833 Total net sales $ 830,566 $ 746,868 $ 2,433,753 $ 2,249,762 Adjusted EBITDA: Lithium $ 125,416 $ 97,789 $ 341,293 $ 270,962 Bromine Specialties 86,012 79,448 273,298 235,751 Catalysts 33,103 37,834 79,694 108,081 All Other — 24,985 29,858 66,407 Corporate (26,962) (24,001) (81,892) (83,588) Total adjusted EBITDA $ 217,569 $ 216,055 $ 642,251 $ 597,613

Pension Plans and Other Postr_2

Pension Plans and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2021 and 2020 were as follows (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Pension Benefits Cost (Credit): Service cost $ 1,425 $ 1,202 $ 3,776 $ 3,623 Interest cost 5,113 6,696 15,352 20,049 Expected return on assets (10,893) (10,065) (32,687) (30,156) Amortization of prior service benefit 29 9 87 27 Total net pension benefits credit $ (4,326) $ (2,158) $ (13,472) $ (6,457) Postretirement Benefits Cost: Service cost $ 31 $ 27 $ 93 $ 79 Interest cost 309 468 928 1,403 Total net postretirement benefits cost $ 340 $ 495 $ 1,021 $ 1,482 Total net pension and postretirement benefits credit $ (3,986) $ (1,663) $ (12,451) $ (4,975)

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Long-Term Debt	The carrying value of our remaining long-term debt reported in the accompanying 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, 2021 December 31, 2020 Recorded Fair Value Recorded Fair Value (In thousands) Long-term debt $ 2,033,469 $ 2,235,877 $ 3,588,157 $ 3,783,225
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 consolidated balance sheets as of September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Assets Liabilities Assets Liabilities Designated as hedging instruments (a) $ 1,961 $ 93 $ 7,043 $ — Not Designated as hedging instruments (b) 2,675 4,101 6,563 4,803 Total $ 4,636 $ 4,194 $ 13,606 $ 4,803 (a) Included $2.0 million in Other current assets and $0.1 million in Accrued expenses at September 30, 2021, and $6.2 million in Other current assets and $0.9 million in Other assets at December 31, 2020. (b) Included $2.7 million in Other current assets and $4.1 million in Accrued expenses at September 30, 2021 and $6.6 million in Other current assets and $4.8 million in Accrued expenses at December 31, 2020.
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, 2021 and 2020 (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Designated as hedging instruments Income (loss) recognized in Other comprehensive (loss) income $ 214 $ 6,993 $ (563) $ (6,822) Not designated as hedging instruments (Loss) income recognized in Other expense, net (a) $ (1,199) $ 3,102 $ 658 $ (5,201) (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 expense, net.

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2021 and December 31, 2020 (in thousands): September 30, 2021 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: Available for sale debt securities (a) $ 248,775 $ — $ — $ 248,775 Investments under executive deferred compensation plan (b) $ 31,952 $ 31,952 $ — $ — Private equity securities measured at net asset value (c)(d) $ 4,695 $ — $ — $ — Foreign currency forward contracts (e) $ 4,636 $ — $ 4,636 $ — Liabilities: Obligations under executive deferred compensation plan (b) $ 31,952 $ 31,952 $ — $ — Foreign currency forward contracts (e) $ 4,194 $ — $ 4,194 $ — December 31, 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 (b) $ 32,447 $ 32,447 $ — $ — Private equity securities measured at net asset value (c)(d) $ 4,661 $ — $ — $ — Foreign currency forward contracts (e) $ 13,606 $ — $ 13,606 $ — Liabilities: Obligations under executive deferred compensation plan (b) $ 32,447 $ 32,447 $ — $ — Foreign currency forward contracts (e) $ 4,803 $ — $ 4,803 $ — (a) Preferred equity of a Grace subsidiary acquired as a portion of the proceeds of the FCS sale on June 1, 2021. See Note 2, “Divestitures,” for further details on the material terms and conditions. A third-party estimate of the fair value was prepared using expected future cash flows over the period up to when the asset is likely to be redeemed, applying a discount rate that appropriately captures a market participant's view of the risk associated with the investment. These are considered to be Level 3 inputs. (b) 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. (c) Primarily consists of private equity securities reported in Investments in the consolidated balance sheets. The changes in fair value are reported in Other expense, net, in our consolidated statements of income. (d) 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. (e) 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 14, “Fair Value of Financial Instruments,” for further details about our foreign currency forward contracts.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables set forth the reconciliation of the beginning and ending balance for the Level 3 recurring fair value measurements (in thousands): Available for Sale Debt Securities Beginning balance at December 31, 2020 $ — Additions 244,530 Accretion of discount 4,245 Ending balance at September 30, 2021 $ 248,775

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	9 Months Ended
	Sep. 30, 2021
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 and Other Net Investment Hedge (a) Cash Flow Hedge (b) Interest Rate Swap (c) Total Three months ended September 30, 2021 Balance at June 30, 2021 $ (324,951) $ — $ 5,672 $ (8,722) $ (328,001) Other comprehensive (loss) income before reclassifications (39,295) — 214 — (39,081) Amounts reclassified from accumulated other comprehensive loss 21 — — 651 672 Other comprehensive (loss) income, net of tax (39,274) — 214 651 (38,409) Other comprehensive income attributable to noncontrolling interests (26) — — — (26) Balance at September 30, 2021 $ (364,251) $ — $ 5,886 $ (8,071) $ (366,436) Three months ended September 30, 2020 Balance at June 30, 2020 $ (487,939) $ 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 37,499 (12,408) 6,993 647 32,731 Other comprehensive loss attributable to noncontrolling interests (67) — — — (67) Balance at September 30, 2020 $ (450,507) $ 64,695 $ (1,975) $ (10,680) $ (398,467) Nine months ended September 30, 2021 Balance at December 31, 2020 $ (369,152) $ 46,593 $ 6,449 $ (10,022) $ (326,132) Other comprehensive (loss) income before reclassifications (46,923) 5,110 (563) — (42,376) Amounts reclassified from accumulated other comprehensive loss 71 — — 1,951 2,022 Other comprehensive (loss) income, net of tax (46,852) 5,110 (563) 1,951 (40,354) Amounts reclassified within accumulated other comprehensive loss 51,703 (51,703) — — — Other comprehensive income attributable to noncontrolling interests 50 — — — 50 Balance at September 30, 2021 $ (364,251) $ — $ 5,886 $ (8,071) $ (366,436) Nine months ended September 30, 2020 Balance at December 31, 2019 $ (468,737) $ 80,778 $ 4,847 $ (12,623) $ (395,735) Other comprehensive 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 (loss) income, net of tax 18,377 (16,083) (6,822) 1,943 (2,585) Other comprehensive loss attributable to noncontrolling interests (147) — — — (147) Balance at September 30, 2020 $ (450,507) $ 64,695 $ (1,975) $ (10,680) $ (398,467) (a) During the first quarter of 2021 the net investment hedge was discontinued following the repayment of the 1.875% Euro-denominated senior notes. The balance of foreign exchange revaluation gains and losses associated with this discontinued net investment hedge have been reclassified to Foreign currency translation and other, and will remain within accumulated other comprehensive loss until the hedged net investment is sold or liquidated. (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 14, “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, 2021 and 2020 is provided in the following tables (in thousands): Foreign Currency Translation and Other Net Investment Hedge Cash Flow Hedge Interest Rate Swap Three months ended September 30, 2021 Other comprehensive (loss) income, before tax $ (39,266) $ — $ 214 $ 834 Income tax expense (8) — — (183) Other comprehensive (loss) income, net of tax $ (39,274) $ — $ 214 $ 651 Three months ended September 30, 2020 Other comprehensive income (loss), before tax $ 37,504 $ (16,029) $ 6,993 $ 834 Income tax (expense) benefit (5) 3,621 — (187) Other comprehensive income (loss), net of tax $ 37,499 $ (12,408) $ 6,993 $ 647 Nine months ended September 30, 2021 Other comprehensive (loss) income, before tax $ (46,836) $ 6,552 $ (563) $ 2,502 Income tax expense (16) (1,442) — (551) Other comprehensive (loss) income, net of tax $ (46,852) $ 5,110 $ (563) $ 1,951 Nine months ended September 30, 2020 Other comprehensive income (loss), before tax $ 18,380 $ (20,755) $ (6,822) $ 2,502 Income tax (expense) benefit (3) 4,672 — (559) Other comprehensive income (loss), net of tax $ 18,377 $ (16,083) $ (6,822) $ 1,943

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2021
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 2021 2020 2021 2020 Sales to unconsolidated affiliates $ 5,629 $ 4,863 $ 16,357 $ 17,361 Purchases from unconsolidated affiliates (a) $ 55,540 $ 10,742 $ 144,461 $ 142,366 (a) Purchases from unconsolidated affiliates primarily relate to purchases from our Windfield joint venture. Our 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, 2021 December 31, 2020 Receivables from unconsolidated affiliates $ 1,782 $ 4,098 Payables to unconsolidated affiliates $ 36,744 $ 30,123

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2021
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 2021 2020 Supplemental non-cash disclosure related to investing activities: Capital expenditures included in Accounts payable $ 157,743 $ 167,393 Non-cash proceeds from divestitures (a) $ 244,530 $ — (a) Fair value of preferred equity of a Grace subsidiary received as part of proceeds for the sale of our FCS business. See Note 3, “Divestitures,” for further details.

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold	$ 581,293	$ 492,812		$ 1,672,376	$ 1,520,329
Income before income taxes and equity in net income of unconsolidated investments	(516,809)	121,544		141,680	325,092
Income tax (benefit) expense	(114,670)	$ 30,653		14,422	$ 64,526
Out-of-period adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold	$ 13,500		$ (4,800)			$ (18,300)	$ 9,600
Income tax (benefit) expense				$ 7,900

Business Combinations and Ass_2

Business Combinations and Asset Acquisitions (Details) - Guangxi Tianyuan New Energy Materials Co Ltd	9 Months Ended
	Sep. 30, 2021USD ($)metricTon
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross | $	$ 200,000,000
Designed Annual Conversion Capacity | metricTon	25,000

Assets and Liabilities Held for

Assets and Liabilities Held for Sale (Details) - USD ($) $ in Thousands	Feb. 25, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Disposition of Business		$ (984)	$ 0	$ 428,424	$ 0
Fine Chemistry Services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash proceeds from divestitures	$ 570,000
Cash Proceeds from Divestiture	300,000
Preferred Stock, Value, Outstanding	$ 270,000	$ 248,800		248,800
Preferred Stock, Dividend Rate, Percentage	12.00%
Gain (Loss) on Disposition of Business				(428,400)
Gain (Loss) on Disposition of Business, net of tax				$ 330,900

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Changes in Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,665,520
Reclass to assets held for sale	(6,586)
Foreign currency translation adjustments	(35,463)
Balance at end of period	1,623,471
Reportable Segments | Lithium
Goodwill [Roll Forward]
Balance at beginning of period	1,441,781
Reclass to assets held for sale	0
Foreign currency translation adjustments	(27,623)
Balance at end of period	1,414,158
Reportable Segments | Bromine Specialties
Goodwill [Roll Forward]
Balance at beginning of period	20,319
Reclass to assets held for sale	0
Foreign currency translation adjustments	0
Balance at end of period	20,319
Reportable Segments | Catalysts
Goodwill [Roll Forward]
Balance at beginning of period	196,834
Reclass to assets held for sale	0
Foreign currency translation adjustments	(7,840)
Balance at end of period	188,994
Reportable Segments | All Other
Goodwill [Roll Forward]
Balance at beginning of period	6,586
Reclass to assets held for sale	(6,586)
Foreign currency translation adjustments	0
Balance at end of period	$ 0

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Other Intangibles (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	$ 565,418
Reclass to Assets Held for Sale	(1,473)
Foreign currency translation adjustments and other	(14,136)
Gross Asset Value, End of Period	549,809
Accumulated Amortization, Beginning of Period	(216,313)
Amortization	(19,111)
Reclass to Assets Held for Sale	1,457
Foreign currency translation adjustments and other	5,139
Accumulated Amortization, End of Period	(228,828)
Net Book Value	320,981	$ 349,105
Customer lists and relationships
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	448,748
Reclass to Assets Held for Sale	0
Foreign currency translation adjustments and other	(12,075)
Gross Asset Value, End of Period	436,673
Accumulated Amortization, Beginning of Period	(147,286)
Amortization	(17,342)
Reclass to Assets Held for Sale	0
Foreign currency translation adjustments and other	4,023
Accumulated Amortization, End of Period	(160,605)
Net Book Value	276,068	301,462
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	18,710
Reclass to Assets Held for Sale	0
Foreign currency translation adjustments and other	(484)
Gross Asset Value, End of Period	18,226
Accumulated Amortization, Beginning of Period	(8,176)
Amortization	0
Reclass to Assets Held for Sale	0
Foreign currency translation adjustments and other	111
Accumulated Amortization, End of Period	(8,065)
Net Book Value	10,161	10,534
Patents and technology
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	58,096
Reclass to Assets Held for Sale	0
Foreign currency translation adjustments and other	(507)
Gross Asset Value, End of Period	57,589
Accumulated Amortization, Beginning of Period	(39,500)
Amortization	(1,095)
Reclass to Assets Held for Sale	0
Foreign currency translation adjustments and other	685
Accumulated Amortization, End of Period	(39,910)
Net Book Value	17,679	18,596
Other
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	39,864
Reclass to Assets Held for Sale	(1,473)
Foreign currency translation adjustments and other	(1,070)
Gross Asset Value, End of Period	37,321
Accumulated Amortization, Beginning of Period	(21,351)
Amortization	(674)
Reclass to Assets Held for Sale	1,457
Foreign currency translation adjustments and other	320
Accumulated Amortization, End of Period	(20,248)
Net Book Value	$ 17,073	$ 18,513

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	22.20%	25.20%	10.20%	19.80%
Tax expense, gain on sale of business			$ 97.5
Income Tax Expense (Benefit), Legal Accrual	$ 152.9		$ 152.9

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Basic earnings per share from continuing operations
Net income attributable to Albemarle Corporation	$ (392,781)	$ 98,301	$ 127,496	$ 291,129
Weighted-average common shares for basic earnings per share (in shares)	116,965	106,386	115,455	106,314
Basic earnings per share (in dollars per share)	$ (3.36)	$ 0.92	$ 1.10	$ 2.74
Diluted earnings per share from continuing operations
Net income attributable to Albemarle Corporation	$ (392,781)	$ 98,301	$ 127,496	$ 291,129
Weighted-average common shares for basic earnings per share (in shares)	116,965	106,386	115,455	106,314
Incremental shares under stock compensation plans (in shares)	0	487	685	326
Weighted-average common shares outstanding - diluted (in shares)	116,965	106,873	116,140	106,640
Diluted earnings per share (in dollars per share)	$ (3.36)	$ 0.92	$ 1.10	$ 2.73

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 08, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Oct. 25, 2021	May 04, 2021	Dec. 31, 2020
Earnings Per Share Disclosure [Line Items]
Issuance of common stock, net (in shares)	8,496,773
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01		$ 0.01				$ 0.01
Stock Issued During Period Value Per Share New Issues	$ 153
Stock Issued During Period Shares New Issues Underwriter Option	1,274,509
Issuance of common stock, net	$ 1,500,000	$ 0	$ 0	$ 1,453,888	$ 0
Cash dividend, amount per share (in dollars per share)							$ 0.39
Subsequent Event
Earnings Per Share Disclosure [Line Items]
Cash dividend, amount per share (in dollars per share)						$ 0.39

Inventories - Breakdown of inve

Inventories - Breakdown of inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 426,616	$ 454,162
Raw materials and work in process	240,881	219,896
Stores, supplies and other	78,101	76,179
Total inventories	$ 745,598	$ 750,237

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Lithium
Inventory [Line Items]
Work in process related to Lithium	$ 145	$ 129.6

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Feb. 25, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Schedule of Investments [Line Items]
Non-cash proceeds from divestitures		$ 244,530	$ 0
Fine Chemistry Services
Schedule of Investments [Line Items]
Preferred Stock, Value, Outstanding	$ 270,000	$ 248,800
Preferred Stock, Dividend Rate, Percentage	12.00%
Windfield Holdings
Schedule of Investments [Line Items]
Equity method investment, ownership percentage		49.00%
Carrying value of unconsolidated investment		$ 469,400		$ 479,600
Other variable interest entities
Schedule of Investments [Line Items]
Carrying value of unconsolidated investment		$ 8,200		$ 8,000

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total long-term Debt	$ 2,022,098	$ 3,572,058
Unamortized discount and debt issuance costs	(14,387)	(20,332)
Current portion of long-term debt	611	804,677
Long-term debt	$ 2,021,487	2,767,381
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	$ 441,090	$ 610,800
Debt instrument, interest rate	1.125%	1.125%
Unsecured debt | 1.625% Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 584,800	$ 610,800
Debt instrument, interest rate	1.625%	1.625%
Unsecured debt | Floating Rate Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 0	$ 200,000
Senior notes | 1.875% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 0	$ 480,007
Debt instrument, interest rate	1.875%	1.875%
Senior notes | 3.45% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 171,612	$ 300,000
Debt instrument, interest rate	3.45%	3.45%
Senior notes | 4.15% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 425,000	$ 425,000
Debt instrument, interest rate	4.15%	4.15%
Senior notes | 5.45% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 350,000	$ 350,000
Debt instrument, interest rate	5.45%	5.45%
Credit facilities
Debt Instrument [Line Items]
Total long-term Debt	$ 0	$ 223,900
Commercial paper notes
Debt Instrument [Line Items]
Total long-term Debt	0	325,000
Variable-rate foreign bank loans
Debt Instrument [Line Items]
Total long-term Debt	5,404	7,702
Finance lease obligations
Debt Instrument [Line Items]
Total long-term Debt	$ 58,579	$ 59,181

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) $ in Thousands, € in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2021EUR (€)	Sep. 30, 2020USD ($)	Dec. 31, 2020
Debt Instrument [Line Items]
Loss on early extinguishment of debt			$ (28,955)		$ 0
Net investment hedge (losses) gains	$ 0	$ (12,408)	5,110		$ (16,083)
Interest Expense
Debt Instrument [Line Items]
Loss on early extinguishment of debt			$ 29,000
1.875% Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.875%		1.875%	1.875%
Commercial paper notes
Debt Instrument [Line Items]
Repayments of Debt			$ 325,000
Unsecured debt | 1.125% Notes
Debt Instrument [Line Items]
Repayments of Debt | €				€ 123.8
Debt instrument, interest rate	1.125%		1.125%	1.125%		1.125%
Unsecured debt | Floating Rate Notes
Debt Instrument [Line Items]
Repayments of Debt			$ 200,000
Credit facilities
Debt Instrument [Line Items]
Repayments of Debt | €				€ 183.3
Senior notes | 1.875% Senior Notes
Debt Instrument [Line Items]
Repayments of Debt | €				€ 393
Debt instrument, interest rate	1.875%		1.875%	1.875%		1.875%
Senior notes | 3.45% Senior Notes
Debt Instrument [Line Items]
Repayments of Debt			$ 128,400
Debt instrument, interest rate	3.45%		3.45%	3.45%		3.45%

Commitments and Contingencies -

Commitments and Contingencies - Activity in Recorded Environmental Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at beginning of period	$ 45,771
Expenditures	(1,529)
Accretion of discount	723
Foreign currency translation adjustments and other	(814)
Balance at end of period	45,727
Less amounts reported in Accrued expenses	9,850
Amounts reported in Other noncurrent liabilities	$ 35,877

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Oct. 28, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Environmental remediation liabilities - discounted	$ 38,200	$ 38,200		$ 39,200
Accrual for environmental loss contingencies - weighted-average discount rate	3.50%	3.50%
Environmental remediation liabilities - undiscounted	$ 71,200	$ 71,200		73,600
Loss Contingency, Loss in Period	657,412	657,412
Loss Contingencies, Loss in Period, Net of Tax	504,500	504,500
Subsequent Event
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss			$ 600,000
Minimum
Loss Contingencies [Line Items]
Potential revision on future environmental remediation costs before tax		10,000
Maximum
Loss Contingencies [Line Items]
Potential revision on future environmental remediation costs before tax		37,000
Other noncurrent liabilities
Loss Contingencies [Line Items]
Tax Indemnification Liability	$ 27,900	$ 27,900		$ 30,500

Leases - Additional Information

Leases - Additional Information (Details)	Sep. 30, 2021
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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating lease cost	$ 13,807	$ 8,085	$ 32,954	$ 25,298
Amortization of right of use assets	153	126	466	433
Interest on lease liabilities	722	697	2,229	1,977
Total finance lease cost	875	823	2,695	2,410
Short-term lease cost	2,949	3,427	7,729	9,824
Variable lease cost	2,441	2,312	6,619	6,344
Total lease cost	$ 20,072	$ 14,647	$ 49,997	$ 43,876

Leases - Leases Cash Flow (Deta

Leases - Leases Cash Flow (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 24,462	$ 28,074
Operating cash flows from finance leases	1,295	1,156
Financing cash flows from finance leases	471	513
Right-of-use asset obtained in exchange for operating leases	$ 57,136	$ 17,197

Leases - Leases Balance Sheet (

Leases - Leases Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Other assets	$ 165,970	$ 136,292
Accrued expenses	33,862	22,297
Other noncurrent liabilities	136,552	116,765
Total operating lease liabilities	170,414	139,062
Net property, plant and equipment	58,375	58,963
Current portion of long-term debt(a)	2,658	1,752
Long-term debt	57,968	58,543
Total finance lease liabilities	$ 60,626	$ 60,295
Weighted average remaining lease term, operating leases	12 years 7 months 6 days	15 years 3 months 18 days
Weighted average remaining lease term, finance leases	27 years	27 years 6 months
Weighted average discount rate, operating leases, percent	3.46%	3.94%
Weighted average discount rate, finance leases, percent	4.57%	4.56%

Leases - Leases Maturity Table

Leases - Leases Maturity Table (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Operating Leases
Remainder of 2021	$ 10,126
2021	38,503
2022	34,453
2023	20,984
2024	14,714
Thereafter	131,456
Total lease payments	250,236
Less imputed interest	79,822
Total operating lease liabilities	170,414	$ 139,062
Finance Leases
Remainder of 2021	542
2021	4,448
2022	4,448
2023	4,448
2024	4,448
Thereafter	89,916
Total lease payments	108,250
Less imputed interest	47,624
Total finance lease liabilities	$ 60,626	$ 60,295

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2021segment
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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Net sales	$ 830,566	$ 746,868	$ 2,433,753	$ 2,249,762
Adjusted EBITDA	217,569	216,055	642,251	597,613
Net income attributable to Albemarle Corporation	(392,781)	98,301	127,496	291,129
Depreciation and amortization	62,082	58,679	185,765	170,214
Restructuring and other	754	2,251	2,294	10,831
Gain (Loss) on Disposition of Business	984	0	(428,424)	0
Acquisition and integration related costs	1,553	5,928	5,629	14,349
Interest and financing expenses	5,136	19,227	56,170	53,964
Income tax (benefit) expense	(114,670)	30,653	14,422	64,526
Non-operating pension and OPEB items	(5,471)	(2,901)	(16,407)	(8,704)
Loss Contingency, Loss in Period	657,412		657,412
Charitable Contribution Expense			20,000
Other	2,570	3,917	17,894	1,304
All Other
Segment Reporting Information [Line Items]
Net sales	0	46,110	75,095	159,833
Adjusted EBITDA	0	24,985	29,858	66,407
Net income attributable to Albemarle Corporation	0	22,798	27,988	60,069
Depreciation and amortization	0	2,187	1,870	6,338
Restructuring and other	0	0	0	0
Gain (Loss) on Disposition of Business	0		0
Acquisition and integration related costs	0	0	0	0
Interest and financing expenses	0	0	0	0
Income tax (benefit) expense	0	0	0	0
Non-operating pension and OPEB items	0	0	0	0
Loss Contingency, Loss in Period	0		0
Charitable Contribution Expense			0
Other	0	0	0	0
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA			(81,892)	(83,588)
Net income attributable to Albemarle Corporation			(414,856)	(226,995)
Depreciation and amortization			8,415	7,137
Restructuring and other				10,831
Acquisition and integration related costs			5,629	14,349
Interest and financing expenses			56,170	53,964
Income tax (benefit) expense			14,422	64,526
Non-operating pension and OPEB items			(16,407)	(8,704)
Other			13,453	1,304
Reportable Segments | Lithium
Segment Reporting Information [Line Items]
Net sales	359,229	265,646	958,539	786,186
Adjusted EBITDA	125,416	97,789	341,293	270,962
Net income attributable to Albemarle Corporation	92,449	69,102	237,293	188,380
Depreciation and amortization	34,256	28,687	99,559	82,582
Restructuring and other	0	0	0	0
Gain (Loss) on Disposition of Business	0		0
Acquisition and integration related costs	0	0	0	0
Interest and financing expenses	0	0	0	0
Income tax (benefit) expense	0	0	0	0
Non-operating pension and OPEB items	0	0	0	0
Loss Contingency, Loss in Period	0		0
Charitable Contribution Expense			0
Other	(1,289)	0	4,441	0
Reportable Segments | Bromine Specialties
Segment Reporting Information [Line Items]
Net sales	277,783	237,193	837,978	701,564
Adjusted EBITDA	86,012	79,448	273,298	235,751
Net income attributable to Albemarle Corporation	73,409	66,548	235,670	198,905
Depreciation and amortization	12,603	12,900	37,628	36,846
Restructuring and other	0	0	0	0
Gain (Loss) on Disposition of Business	0		0
Acquisition and integration related costs	0	0	0	0
Interest and financing expenses	0	0	0	0
Income tax (benefit) expense	0	0	0	0
Non-operating pension and OPEB items	0	0	0	0
Loss Contingency, Loss in Period	0		0
Charitable Contribution Expense			0
Other	0	0	0	0
Reportable Segments | Catalysts
Segment Reporting Information [Line Items]
Net sales	193,554	197,919	562,141	602,179
Adjusted EBITDA	33,103	37,834	79,694	108,081
Net income attributable to Albemarle Corporation	20,039	25,176	41,401	70,770
Depreciation and amortization	13,064	12,658	38,293	37,311
Restructuring and other	0	0	0	0
Gain (Loss) on Disposition of Business	0		0
Acquisition and integration related costs	0	0	0	0
Interest and financing expenses	0	0	0	0
Income tax (benefit) expense	0	0	0	0
Non-operating pension and OPEB items	0	0	0	0
Loss Contingency, Loss in Period	0		0
Charitable Contribution Expense			0
Other	0	0	0	0
Reportable Segments | Reportable Segments Total
Segment Reporting Information [Line Items]
Adjusted EBITDA	244,531	215,071	694,285	614,794
Net income attributable to Albemarle Corporation	185,897	160,826	514,364	458,055
Depreciation and amortization	59,923	54,245	175,480	156,739
Restructuring and other	0	0	0	0
Gain (Loss) on Disposition of Business	0		0
Acquisition and integration related costs	0	0	0	0
Interest and financing expenses	0	0	0	0
Income tax (benefit) expense	0	0	0	0
Non-operating pension and OPEB items	0	0	0	0
Loss Contingency, Loss in Period	0		0
Charitable Contribution Expense			0
Other	(1,289)	0	4,441	$ 0
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA	(26,962)	(24,001)
Net income attributable to Albemarle Corporation	(578,678)	(85,323)
Depreciation and amortization	2,159	2,247
Restructuring and other	754	2,251	2,294
Gain (Loss) on Disposition of Business	984		(428,424)
Acquisition and integration related costs	1,553	5,928
Interest and financing expenses	5,136	19,227
Income tax (benefit) expense	(114,670)	30,653
Non-operating pension and OPEB items	(5,471)	(2,901)
Loss Contingency, Loss in Period	657,412		657,412
Charitable Contribution Expense			$ 20,000
Other	$ 3,859	$ 3,917

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, 2021	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Loss on early extinguishment of debt				$ (28,955)	$ 0
Restructuring and other	$ 754	$ 2,251		2,294	10,831
Accrual for Environmental Loss Contingencies, Period Increase (Decrease)				1,576
Accrual for Environmental Loss Contingencies, Revision in Estimates		3,800			3,800
Cost of goods sold
Segment Reporting Information [Line Items]
Restructuring and other					700
Selling, general and administrative expenses
Segment Reporting Information [Line Items]
Non-routine Chilean labor costs	2,500			8,600
Restructuring and other			$ 2,300		10,400
Gain (Loss) on Disposition of Property Plant Equipment				4,000
Accrual for Environmental Loss Contingencies, Period Increase (Decrease)				1,600
Non-controlling Interests
Segment Reporting Information [Line Items]
Restructuring and other					300
Other (expenses) income, net
Segment Reporting Information [Line Items]
Asset Retirement Obligation, Liabilities Incurred				3,700
Settlement of a legal claim		$ 200			2,500
Revision of tax indemnification expense	$ (100)				800
Gain on sale of idle properties					$ 800
Interest Expense
Segment Reporting Information [Line Items]
Loss on early extinguishment of debt				$ 29,000

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Total net pension and postretirement benefits credit	$ (3,986)	$ (1,663)	$ (12,451)	$ (4,975)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,425	1,202	3,776	3,623
Interest cost	5,113	6,696	15,352	20,049
Expected return on assets	(10,893)	(10,065)	(32,687)	(30,156)
Amortization of prior service benefit	29	9	87	27
Total net pension and postretirement benefits credit	(4,326)	(2,158)	(13,472)	(6,457)
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	31	27	93	79
Interest cost	309	468	928	1,403
Total net pension and postretirement benefits credit	$ 340	$ 495	$ 1,021	$ 1,482

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Retirement Benefits [Abstract]
Employer contributions	$ 3.2	$ 2.7	$ 22.1	$ 7.9
Payment for other postretirement benefits	$ 0.7	$ 0.9	$ 2.1	$ 2.5

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Value of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Total long-term debt, excluding debt issuance costs	$ 2,033,469	$ 3,588,157
Total long-term debt, fair value, excluding debt issuance costs	$ 2,235,877	$ 3,783,225

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Fair Value, Option, Quantitative Disclosures [Line Items]
Foreign currency forward contracts, assets	$ 4,636		$ 4,636		$ 13,606
Foreign currency forward contracts, liabilities	4,194		4,194		4,803
Recognized gains (losses) of foreign currency forward contracts designated as hedging instruments	214	$ 6,993	(563)	$ (6,822)
Forward contracts | Other, net
Fair Value, Option, Quantitative Disclosures [Line Items]
Cash settlements				25,500
Derivative, Cash Received on Hedge			800
Designated as Hedging Instrument | Forward contracts
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, notional amount	127,100		127,100		75,400
Fair value foreign currency forward contracts designated as hedging instruments, asset	1,961		1,961		7,043
Fair value foreign currency forward contracts designated as hedging instruments, liabilities	93		93		0
Recognized gains (losses) of foreign currency forward contracts designated as hedging instruments	214	6,993	(563)	(6,822)
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					6,200
Fair value foreign currency forward contracts not designated as hedging instruments, asset	2,000		2,000
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					900
Designated as Hedging Instrument | Forward contracts | Accrued expenses
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts designated as hedging instruments, liabilities	100		100
Not Designated as Hedging Instrument | Forward contracts
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, notional amount	593,100		593,100		611,100
Fair value foreign currency forward contracts not designated as hedging instruments, asset	2,675		2,675		6,563
Fair value foreign currency forward contracts not designated as hedging instruments, liabilities	4,101		4,101		4,803
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	2,700		2,700		6,600
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	4,100		4,100		$ 4,800
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	$ (1,199)	$ 3,102	$ 658	$ (5,201)

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments under executive deferred compensation plan	$ 31,952	$ 32,447
Private equity securities measured at net asset value	4,695	4,661
Foreign currency forward contracts, assets	4,636	13,606
Obligations under executive deferred compensation plan	31,952	32,447
Foreign currency forward contracts, liabilities	4,194	4,803
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	248,775	0
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	244,530
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Accretion of Discount	4,245
Debt Securities, Available-for-sale	248,775
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	31,952	32,447
Foreign currency forward contracts, assets	0	0
Obligations under executive deferred compensation plan	31,952	32,447
Foreign currency forward contracts, liabilities	0	0
Debt Securities, Available-for-sale	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
Foreign currency forward contracts, assets	4,636	13,606
Obligations under executive deferred compensation plan	0	0
Foreign currency forward contracts, liabilities	4,194	4,803
Debt Securities, Available-for-sale	0
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
Foreign currency forward contracts, assets	0	0
Obligations under executive deferred compensation plan	0	0
Foreign currency forward contracts, liabilities	0	$ 0
Debt Securities, Available-for-sale	$ 248,775

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	$ 6,365,771	$ 4,206,161	$ 4,468,594	$ 4,093,580
Other comprehensive income (loss), before reclassifications	(39,081)	32,074	(42,376)	(4,555)
Amounts reclassified within accumulated other comprehensive loss			0
Amounts reclassified from accumulated other comprehensive loss	672	657	2,022	1,970
Total other comprehensive (loss) income, net of tax	(38,409)	32,731	(40,354)	(2,585)
Other comprehensive (income) loss attributable to noncontrolling interests	(26)	(67)	50	(147)
Ending Balance	$ 5,895,232	4,325,381	$ 5,895,232	4,325,381
1.875% Senior Notes
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Debt instrument, interest rate	1.875%		1.875%
Foreign Currency Translation and Other
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	$ (324,951)	(487,939)	$ (369,152)	(468,737)
Other comprehensive income (loss), before reclassifications	(39,295)	37,489	(46,923)	18,350
Amounts reclassified within accumulated other comprehensive loss			51,703
Amounts reclassified from accumulated other comprehensive loss	21	10	71	27
Total other comprehensive (loss) income, net of tax	(39,274)	37,499	(46,852)	18,377
Other comprehensive (income) loss attributable to noncontrolling interests	(26)	(67)	50	(147)
Ending Balance	(364,251)	(450,507)	(364,251)	(450,507)
Net Investment Hedge
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	0	77,103	46,593	80,778
Other comprehensive income (loss), before reclassifications	0	(12,408)	5,110	(16,083)
Amounts reclassified within accumulated other comprehensive loss			(51,703)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total other comprehensive (loss) income, net of tax	0	(12,408)	5,110	(16,083)
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	0	64,695	0	64,695
Cash Flow Hedge
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	5,672	(8,968)	6,449	4,847
Other comprehensive income (loss), before reclassifications	214	6,993	(563)	(6,822)
Amounts reclassified within accumulated other comprehensive loss			0
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total other comprehensive (loss) income, net of tax	214	6,993	(563)	(6,822)
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	5,886	(1,975)	5,886	(1,975)
Interest Rate Swap
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(8,722)	(11,327)	(10,022)	(12,623)
Other comprehensive income (loss), before reclassifications	0	0	0	0
Amounts reclassified within accumulated other comprehensive loss			0
Amounts reclassified from accumulated other comprehensive loss	651	647	1,951	1,943
Total other comprehensive (loss) income, net of tax	651	647	1,951	1,943
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	(8,071)	(10,680)	(8,071)	(10,680)
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(328,001)	(431,131)	(326,132)	(395,735)
Total other comprehensive (loss) income, net of tax	(38,435)	32,664	(40,304)	(2,732)
Ending Balance	$ (366,436)	$ (398,467)	$ (366,436)	$ (398,467)

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive (Loss) Income [Line Items]
Total other comprehensive (loss) income, net of tax	$ (38,409)	$ 32,731	$ (40,354)	$ (2,585)
Foreign Currency Translation and Other
Equity [Abstract]
Other comprehensive income (loss), before tax	(39,266)	37,504	(46,836)	18,380
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	(39,266)	37,504	(46,836)	18,380
Income tax (expense) benefit	(8)	(5)	(16)	(3)
Total other comprehensive (loss) income, net of tax	(39,274)	37,499	(46,852)	18,377
Net Investment Hedge
Equity [Abstract]
Other comprehensive income (loss), before tax	0	(16,029)	6,552	(20,755)
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	0	(16,029)	6,552	(20,755)
Income tax (expense) benefit	0	3,621	(1,442)	4,672
Total other comprehensive (loss) income, net of tax	0	(12,408)	5,110	(16,083)
Cash Flow Hedge
Equity [Abstract]
Other comprehensive income (loss), before tax	214	6,993	(563)	(6,822)
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	214	6,993	(563)	(6,822)
Income tax (expense) benefit	0	0	0	0
Total other comprehensive (loss) income, net of tax	214	6,993	(563)	(6,822)
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) benefit	(183)	(187)	(551)	(559)
Total other comprehensive (loss) income, net of tax	$ 651	$ 647	$ 1,951	$ 1,943

Related Party Transactions (Det

Related Party Transactions (Details) - Unconsolidated Affiliates - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Sales to unconsolidated affiliates	$ 5,629	$ 4,863	$ 16,357	$ 17,361
Purchases from unconsolidated affiliates	55,540	$ 10,742	144,461	$ 142,366
Receivables from unconsolidated affiliates	1,782		1,782		$ 4,098
Payables to unconsolidated affiliates	$ 36,744		$ 36,744		$ 30,123

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of supplemental information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Supplemental Cash Flow Information [Abstract]
Capital expenditures included in Accounts payable	$ 157,743	$ 167,393
Non-cash proceeds from divestitures	$ 244,530	$ 0

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Additional Information (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Cash Flow Supplemental Disclosures [Line Items]
Capital expenditures		$ 652,739	$ 621,371
Non-cash transfer of 40% value of construction in progress of Kemerton plant to MRL		135,928	131,929
Reclassification of one-time transition tax		28,700	30,400
Mineral Resources Limited Wodgina Project
Cash Flow Supplemental Disclosures [Line Items]
Ownership percentage	60.00%
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]
Non-cash transfer of 40% value of construction in progress of Kemerton plant to MRL		$ 135,900	$ 131,900	$ 480,000