Albemarle (ALB) 10-Q 4 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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		117,112,692
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
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
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net sales	$ 1,127,728	$ 829,291
Cost of goods sold	678,698	565,604
Gross profit	449,030	263,687
Selling, general and administrative expenses	112,568	93,187
Research and development expenses	16,083	14,636
Gain (Loss) on Disposition of Business	8,400	0
Operating profit	311,979	155,864
Interest and financing expenses	(27,834)	(43,882)
Other income, net	15,496	11,312
Income before income taxes and equity in net income of unconsolidated investments	299,641	123,294
Income tax expense	80,530	22,107
Income before equity in net income of unconsolidated investments	219,111	101,187
Equity in net income of unconsolidated investments (net of tax)	62,436	16,511
Net income	281,547	117,698
Net income attributable to noncontrolling interests	(28,164)	(22,021)
Net income attributable to Albemarle Corporation	$ 253,383	$ 95,677
Basic earnings per share (in dollars per share)	$ 2.16	$ 0.85
Diluted earnings per share (in dollars per share)	$ 2.15	$ 0.84
Weighted-average common shares outstanding - basic (in shares)	117,066	112,592
Weighted-average common shares outstanding - diluted (in shares)	117,653	113,330

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 281,547	$ 117,698
Other comprehensive (loss) income, net of tax:
Foreign currency translation and other	(5,889)	(28,142)
Net investment hedge	0	5,110
Cash flow hedge	4,017	(1,600)
Interest rate swap	650	650
Total other comprehensive loss, net of tax	(1,222)	(23,982)
Comprehensive income	280,325	93,716
Comprehensive income attributable to noncontrolling interests	(28,111)	(22,021)
Comprehensive income attributable to Albemarle Corporation	$ 252,214	$ 71,695

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 463,325	$ 439,272
Trade accounts receivable, less allowance for doubtful accounts (2022 – $2,548; 2021 – $2,559)	658,733	556,922
Other accounts receivable	71,225	66,184
Inventories	1,013,793	812,920
Other current assets	129,407	132,683
Total current assets	2,336,483	2,007,981
Property, plant and equipment, at cost	8,238,317	8,074,746
Less accumulated depreciation and amortization	2,209,664	2,165,130
Net property, plant and equipment	6,028,653	5,909,616
Investments	937,619	897,708
Other assets	240,279	252,239
Goodwill	1,575,617	1,597,627
Other intangibles, net of amortization	297,407	308,947
Total assets	11,416,058	10,974,118
Current liabilities:
Accounts payable	845,710	647,986
Accrued expenses	667,610	763,293
Current portion of long-term debt	503,795	389,920
Dividends payable	46,091	45,469
Income taxes payable	40,132	27,667
Total current liabilities	2,103,338	1,874,335
Long-term debt	1,985,696	2,004,319
Postretirement benefits	43,397	43,693
Pension benefits	217,820	229,187
Other noncurrent liabilities	649,878	663,698
Deferred income taxes	380,877	353,279
Commitments and contingencies (Note 10)
Albemarle Corporation shareholders’ equity:
Common stock, $.01 par value, issued and outstanding – 117,112 in 2022 and 117,015 in 2021	1,171	1,170
Additional paid-in capital	2,915,387	2,920,007
Accumulated other comprehensive loss	(393,619)	(392,450)
Retained earnings	3,303,661	3,096,539
Total Albemarle Corporation shareholders’ equity	5,826,600	5,625,266
Noncontrolling interests	208,452	180,341
Total equity	6,035,052	5,805,607
Total liabilities and equity	$ 11,416,058	$ 10,974,118

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,548	$ 2,559
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	117,112	117,015
Common stock, outstanding (in shares)	117,112	117,015

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, 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	117,698				95,677	95,677	22,021
Other comprehensive (loss) income	(23,982)			(23,982)		(23,982)
Cash dividends declared	(71,740)				(45,521)	(45,521)	(26,219)
Stock-based compensation	4,674		4,674			4,674
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	(902)		(902)			(902)
Exercise of stock options (in shares)		17,964
Exercise of stock options	1,183		1,183			1,183
Issuance of common stock, net (in shares)		9,902,307
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)		(44,465)
Withholding taxes paid on stock-based compensation award distributions	(6,860)	$ (1)	(6,859)			(6,860)
Ending Balance (in shares) at Mar. 31, 2021		116,718,175
Ending Balance at Mar. 31, 2021	5,942,553	$ 1,167	2,889,923	(350,114)	3,205,408	5,746,384	196,169
Beginning Balance (in shares) at Dec. 31, 2021		117,015,333
Beginning Balance at Dec. 31, 2021	5,805,607	$ 1,170	2,920,007	(392,450)	3,096,539	5,625,266	180,341
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	281,547				253,383	253,383	28,164
Other comprehensive (loss) income	(1,222)			(1,169)		(1,169)	(53)
Cash dividends declared	(46,261)				(46,261)	(46,261)
Stock-based compensation	5,384		5,384			5,384
Exercise of stock options (in shares)		500
Exercise of stock options	32		32			32
Issuance of common stock, net (in shares)		151,630
Issuance of common stock, net	387	$ 2	385			387
Shares withheld for withholding taxes associated with common stock issuances (in shares)		(55,069)
Withholding taxes paid on stock-based compensation award distributions	(10,422)	$ (1)	(10,421)			(10,422)
Ending Balance (in shares) at Mar. 31, 2022		117,112,394
Ending Balance at Mar. 31, 2022	$ 6,035,052	$ 1,171	$ 2,915,387	$ (393,619)	$ 3,303,661	$ 5,826,600	$ 208,452

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Financial Position [Abstract]
Cash dividends declared (in dollars per share)	$ 0.395	$ 0.39

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Cash and cash equivalents at beginning of year	$ 439,272	$ 746,724
Cash flows from operating activities:
Net (loss) income	281,547	117,698
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	66,574	62,260
Gain (Loss) on Disposition of Business	8,400	0
Stock-based compensation and other	4,245	2,560
Equity in net income of unconsolidated investments (net of tax)	(62,436)	(16,511)
Dividends received from unconsolidated investments and nonmarketable securities	39,168	4,950
Pension and postretirement benefit	(4,250)	(4,226)
Pension and postretirement contributions	(3,890)	(15,329)
Unrealized gain on investments in marketable securities	1,469	(1,762)
Loss on early extinguishment of debt	0	27,798
Deferred income taxes	27,747	(19,384)
Working capital changes	(219,397)	(49,185)
Non-cash transfer of 40% value of construction in progress of Kemerton plant to MRL	65,100	43,223
Other, net	1,899	5,857
Net cash provided by operating activities	206,176	157,949
Cash flows from investing activities:
Capital expenditures	(231,698)	(179,683)
Sales of marketable securities, net	3,751	5,245
Investments in equity and other corporate investments	(146)	(286)
Net cash used in investing activities	(228,093)	(174,724)
Cash flows from financing activities:
Proceeds from issuance of common stock	0	1,453,888
Repayments of long-term debt and credit agreements	0	(1,174,980)
Proceeds from borrowings of credit agreements	280,000	0
-166615000	(166,615)	(325,159)
Fees related to early extinguishment of debt	0	(23,719)
Dividends paid to shareholders	(45,637)	(41,130)
Dividends paid to noncontrolling interests	0	(26,219)
Proceeds from exercise of stock options	419	1,183
Withholding taxes paid on stock-based compensation award distributions	(10,422)	(6,860)
Other	(126)	(253)
Net cash provided by (used in) financing activities	57,619	(143,249)
Net effect of foreign exchange on cash and cash equivalents	(11,649)	(16,841)
Increase (decrease) in cash and cash equivalents	24,053	(176,865)
Cash and cash equivalents at end of period	$ 463,325	$ 569,859

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021, our consolidated statements of income, consolidated statements of comprehensive income and consolidated statements of changes in equity for the three-month periods ended March 31, 2022 and 2021 and our condensed consolidated statements of cash flows for the three-month periods ended March 31, 2022 and 2021. 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, 2021, which was filed with the U.S. Securities and Exchange Commission (“SEC”) on February 22, 2022. The December 31, 2021 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 period ended March 31, 2022 are not necessarily indicative of the results to be expected for the full year. Interest and financing expenses for the three-month period ended March 31, 2022 includes an expense of $17.5 million for the correction of out of period errors regarding overstated capitalized interest values in prior periods. For the years ended December 31, 2021, 2020 and 2019, Interest expense was understated by $11.4 million, $5.5 million and $0.6 million, respectively. The Company does not believe these adjustments are material to the consolidated financial statements for any of the prior periods presented or to the three-month period ended March 31, 2022, in which they were corrected.

Business Combinations and Asset

Business Combinations and Asset Acquisitions	3 Months Ended
	Mar. 31, 2022
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 the third quarter of 2022.

Divestitures

Divestitures	3 Months Ended
	Mar. 31, 2022
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. Historical financial statements include results from this business until divested on June 1, 2021. We determined that the FCS 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 because the Company’s management does not consider the sale as representing a strategic shift that had or will have a major effect on the Company’s operations and financial results.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	3 Months Ended
	Mar. 31, 2022
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 three months ended March 31, 2022 (in thousands): Lithium Bromine Catalysts Total Balance at December 31, 2021 $ 1,394,182 $ 20,319 $ 183,126 $ 1,597,627 Foreign currency translation adjustments (17,666) — (4,344) (22,010) Balance at March 31, 2022 $ 1,376,516 $ 20,319 $ 178,782 $ 1,575,617 The following table summarizes the changes in other intangibles and related accumulated amortization for the three months ended March 31, 2022 (in thousands): Customer Lists and Relationships Trade Names and Trademarks (a) Patents and Technology Other Total Gross Asset Value Balance at December 31, 2021 $ 428,379 $ 17,883 $ 57,313 $ 36,705 $ 540,280 Foreign currency translation adjustments and other (9,652) (117) (498) 685 (9,582) Balance at March 31, 2022 $ 418,727 $ 17,766 $ 56,815 $ 37,390 $ 530,698 Accumulated Amortization Balance at December 31, 2021 $ (163,283) $ (7,983) $ (39,796) $ (20,271) $ (231,333) Amortization (5,437) — (368) (216) (6,021) Foreign currency translation adjustments and other 3,560 70 481 (48) 4,063 Balance at March 31, 2022 $ (165,160) $ (7,913) $ (39,683) $ (20,535) $ (233,291) Net Book Value at December 31, 2021 $ 265,096 $ 9,900 $ 17,517 $ 16,434 $ 308,947 Net Book Value at March 31, 2022 $ 253,567 $ 9,853 $ 17,132 $ 16,855 $ 297,407 (a) Net Book Value includes only indefinite-lived intangible assets.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes:The effective income tax rate for the three-month period ended March 31, 2022 was 26.9% compared to 17.9% for the three-month period ended March 31, 2021. The three-month period ended March 31, 2022 included tax expenses related to global intangible low-taxed income and net discrete tax expenses related to foreign return to provisions, partially offset by a benefit for excess tax benefits realized from stock-based compensation arrangements. 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 periods ended March 31, 2022 and March 31, 2021 was impacted by a variety of factors, primarily global intangible low-taxed income and the location in which income was earned

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share: Basic and diluted earnings per share for the three-month periods ended March 31, 2022 and 2021 are calculated as follows (in thousands, except per share amounts): Three Months Ended 2022 2021 Basic earnings per share Numerator: Net income attributable to Albemarle Corporation $ 253,383 $ 95,677 Denominator: Weighted-average common shares for basic earnings per share 117,066 112,592 Basic earnings per share $ 2.16 $ 0.85 Diluted earnings per share Numerator: Net income attributable to Albemarle Corporation $ 253,383 $ 95,677 Denominator: Weighted-average common shares for basic earnings per share 117,066 112,592 Incremental shares under stock compensation plans 587 738 Weighted-average common shares for diluted earnings per share 117,653 113,330 Diluted earnings per share $ 2.15 $ 0.84 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. On February 24, 2022, the Company declared a cash dividend of $0.395, an increase from the prior year regular quarterly dividend. This dividend was paid on April 1, 2022 to shareholders of record at the close of business as of March 18, 2022. On May 3, 2022, the Company declared a cash dividend of $0.395 per share, which is payable on July 1, 2022 to shareholders of record at the close of business as of June 10, 2022.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories: The following table provides a breakdown of inventories at March 31, 2022 and December 31, 2021 (in thousands): March 31, December 31, 2022 2021 Finished goods $ 656,475 $ 473,836 Raw materials and work in process (a) 276,150 259,221 Stores, supplies and other 81,168 79,863 Total $ 1,013,793 $ 812,920 (a) Included $156.1 million and $149.4 million at March 31, 2022 and December 31, 2021, respectively, of work in process in our Lithium segment.

Investments

Investments	3 Months Ended
	Mar. 31, 2022
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 $499.8 million and $462.3 million at March 31, 2022 and December 31, 2021, 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 $8.0 million at March 31, 2022 and December 31, 2021. 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 had a fair value of $247.1 million and $246.5 million at March 31, 2022 and December 31, 2021, respectively, which is reported in Investments in the consolidated balance sheets.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term Debt	Long-Term Debt: Long-term debt at March 31, 2022 and December 31, 2021 consisted of the following (in thousands): March 31, December 31, 2022 2021 1.125% notes due 2025 $ 414,088 $ 426,571 1.625% notes due 2028 549,000 565,550 3.45% Senior notes due 2029 171,612 171,612 4.15% Senior notes due 2024 425,000 425,000 5.45% Senior notes due 2044 350,000 350,000 Credit facilities 280,000 — Commercial paper notes 222,400 388,500 Variable-rate foreign bank loans 4,842 5,226 Finance lease obligations 74,504 75,431 Other 11,001 — Unamortized discount and debt issuance costs (12,956) (13,651) Total long-term debt 2,489,491 2,394,239 Less amounts due within one year 503,795 389,920 Long-term debt, less current portion $ 1,985,696 $ 2,004,319 Current portion of long-term debt at March 31, 2022 includes commercial paper notes with a weighted-average interest rate of approximately 1.12% and a weighted-average maturity of 17 days. In the first quarter of 2021, the Company made certain debt principal payments using proceeds from the February 2021 underwritten public offering of common stock. As a result, included in Interest and financing expenses for the three-month period ended March 31, 2021 is a loss on early extinguishment of debt of $27.8 million, representing the tender premiums, fees, unamortized discounts and unamortized deferred financing costs from the redemption of this debt.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies: Environmental The following activity was recorded in environmental liabilities for the three months ended March 31, 2022 (in thousands): Beginning balance at December 31, 2021 $ 46,617 Expenditures (728) Accretion of discount 259 Additions and changes in estimates 2,811 Foreign currency translation adjustments and other (860) Ending balance at March 31, 2022 48,099 Less amounts reported in Accrued expenses 9,925 Amounts reported in Other noncurrent liabilities $ 38,174 Environmental remediation liabilities included discounted liabilities of $39.3 million and $39.7 million at March 31, 2022 and December 31, 2021, respectively, discounted at rates with a weighted-average of 3.5%, and with the undiscounted amount totaling $69.1 million and $70.0 million at March 31, 2022 and December 31, 2021, 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 $23 million before income taxes in excess of amounts already recorded. The variability of this range is primarily driven by possible environmental remediation activity at a formerly owned site where we indemnify the buyer through a set cutoff date in 2024. We believe that any sum we may be required to pay in connection with environmental remediation matters in excess of the amounts recorded would likely occur over a period of time and would likely not have a material adverse effect upon our results of operations, financial condition or cash flows on a consolidated annual basis although any such sum could have a material adverse impact on our results of operations, financial condition or cash flows in a particular quarterly reporting period. Litigation We are involved from time to time in legal proceedings of types regarded as common in our business, including administrative or judicial proceedings seeking remediation under environmental laws, such as the federal Comprehensive Environmental Response, Compensation and Liability Act, commonly known as CERCLA or Superfund, products liability, breach of contract liability and premises liability litigation. Where appropriate, we may establish financial reserves for such proceedings. We also maintain insurance to mitigate certain of such risks. Costs for legal services are generally expensed as incurred. As 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 $64.9 million and $66.8 million at March 31, 2022 and December 31, 2021, 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 in 2017. 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	3 Months Ended
	Mar. 31, 2022
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 periods ended March 31, 2022 and 2021 (in thousands): Three Months Ended 2022 2021 Operating lease cost $ 10,611 $ 9,412 Finance lease cost: Amortization of right of use assets 430 157 Interest on lease liabilities 853 755 Total finance lease cost 1,283 912 Short-term lease cost 2,699 2,604 Variable lease cost 717 2,365 Total lease cost $ 15,310 $ 15,293 Supplemental cash flow information related to our lease contracts for the three-month periods ended March 31, 2022 and 2021 is as follows (in thousands): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 8,637 $ 8,381 Operating cash flows from finance leases 599 439 Financing cash flows from finance leases 515 159 Right-of-use assets obtained in exchange for lease obligations: Operating leases 999 707 Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at March 31, 2022 and December 31, 2021 is as follows (in thousands, except as noted): March 31, 2022 December 31, 2021 Operating leases: Other assets $ 144,594 $ 154,741 Accrued expenses 35,285 31,603 Other noncurrent liabilities 116,736 126,997 Total operating lease liabilities 152,021 158,600 Finance leases: Net property, plant and equipment 74,398 75,302 Current portion of long-term debt (a) 3,996 3,768 Long-term debt 73,109 74,011 Total finance lease liabilities 77,105 77,779 Weighted average remaining lease term (in years): Operating leases 12.8 12.9 Finance leases 24.4 24.5 Weighted average discount rate (%): Operating leases 3.48 % 3.44 % Finance leases 4.46 % 4.47 % (a) Balance includes accrued interest of finance lease recorded in Accrued liabilities. Maturities of lease liabilities at March 31, 2022 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2022 $ 29,496 $ 4,015 2023 34,363 6,156 2024 20,847 6,156 2025 12,298 6,156 2026 9,784 5,497 Thereafter 122,294 97,469 Total lease payments 229,082 125,449 Less imputed interest 77,061 48,344 Total $ 152,021 $ 77,105
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 periods ended March 31, 2022 and 2021 (in thousands): Three Months Ended 2022 2021 Operating lease cost $ 10,611 $ 9,412 Finance lease cost: Amortization of right of use assets 430 157 Interest on lease liabilities 853 755 Total finance lease cost 1,283 912 Short-term lease cost 2,699 2,604 Variable lease cost 717 2,365 Total lease cost $ 15,310 $ 15,293 Supplemental cash flow information related to our lease contracts for the three-month periods ended March 31, 2022 and 2021 is as follows (in thousands): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 8,637 $ 8,381 Operating cash flows from finance leases 599 439 Financing cash flows from finance leases 515 159 Right-of-use assets obtained in exchange for lease obligations: Operating leases 999 707 Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at March 31, 2022 and December 31, 2021 is as follows (in thousands, except as noted): March 31, 2022 December 31, 2021 Operating leases: Other assets $ 144,594 $ 154,741 Accrued expenses 35,285 31,603 Other noncurrent liabilities 116,736 126,997 Total operating lease liabilities 152,021 158,600 Finance leases: Net property, plant and equipment 74,398 75,302 Current portion of long-term debt (a) 3,996 3,768 Long-term debt 73,109 74,011 Total finance lease liabilities 77,105 77,779 Weighted average remaining lease term (in years): Operating leases 12.8 12.9 Finance leases 24.4 24.5 Weighted average discount rate (%): Operating leases 3.48 % 3.44 % Finance leases 4.46 % 4.47 % (a) Balance includes accrued interest of finance lease recorded in Accrued liabilities. Maturities of lease liabilities at March 31, 2022 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2022 $ 29,496 $ 4,015 2023 34,363 6,156 2024 20,847 6,156 2025 12,298 6,156 2026 9,784 5,497 Thereafter 122,294 97,469 Total lease payments 229,082 125,449 Less imputed interest 77,061 48,344 Total $ 152,021 $ 77,105

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information: Our three reportable segments include: (1) Lithium; (2) Bromine; 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 included only the FCS business that did 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 2022 2021 (In thousands) Net sales: Lithium $ 550,272 $ 278,976 Bromine 359,579 280,447 Catalysts 217,877 220,243 All Other — 49,625 Total net sales $ 1,127,728 $ 829,291 Adjusted EBITDA: Lithium $ 308,615 $ 106,436 Bromine 129,234 94,640 Catalysts 16,910 25,427 All Other — 21,479 Corporate (22,829) (17,928) Total adjusted EBITDA $ 431,930 $ 230,054 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 Catalysts Reportable Segments Total All Other Corporate Consolidated Total Three months ended March 31, 2022 Net income (loss) attributable to Albemarle Corporation $ 261,689 $ 116,561 $ 3,989 $ 382,239 $ — $ (128,856) $ 253,383 Depreciation and amortization 38,526 12,673 12,921 64,120 — 2,454 66,574 Loss on sale of interest in properties (a) 8,400 — — 8,400 — — 8,400 Acquisition and integration related costs (b) — — — — — 1,724 1,724 Interest and financing expenses (c) — — — — — 27,834 27,834 Income tax expense — — — — — 80,530 80,530 Non-operating pension and OPEB items — — — — — (5,280) (5,280) Other (d) — — — — — (1,235) (1,235) Adjusted EBITDA $ 308,615 $ 129,234 $ 16,910 $ 454,759 $ — $ (22,829) $ 431,930 Three months ended March 31, 2021 Net income (loss) attributable to Albemarle Corporation $ 74,630 $ 82,113 $ 12,916 $ 169,659 $ 20,016 $ (93,998) $ 95,677 Depreciation and amortization 31,806 12,527 12,511 56,844 1,463 3,953 62,260 Acquisition and integration related costs (b) — — — — — 2,162 2,162 Interest and financing expenses (e) — — — — — 43,882 43,882 Income tax expense — — — — — 22,107 22,107 Non-operating pension and OPEB items — — — — — (5,465) (5,465) Other (f) — — — — — 9,431 9,431 Adjusted EBITDA $ 106,436 $ 94,640 $ 25,427 $ 226,503 $ 21,479 $ (17,928) $ 230,054 (a) Expense recorded as a result of revised estimates of the obligation to construct certain lithium hydroxide conversion assets in Kemerton, Western Australia, due to anticipated cost overruns from supply chain, labor and COVID-19 pandemic related issues. The corresponding obligation was recorded in Accrued liabilities to be transferred to Mineral Resources Limited (“MRL”), which maintains a 40% ownership interest in these Kemerton assets. (b) Costs related to the acquisition, integration and potential divestitures for various significant projects, recorded in Selling, general and administrative expenses (“SG&A”). (c) Included in Interest and financing expenses is the correction of an out of period error of $17.5 million related to the overstatement of capitalized interest in prior periods. See Note 1, “Basis of Presentation,” for further details. (d) Included amounts for the three months ended March 31, 2022 recorded in: • SG&A - $4.3 million of gains from the sale of legacy properties not part of our operations, partially offset by $2.8 million of charges for environmental reserves at sites not part of our operations and $0.7 million of facility closure expenses related to offices in Germany. • Other income, net - $0.6 million gain related to a settlement received from a legal matter in a prior period. (e) Included in Interest and financing expenses is a loss on early extinguishment of debt of $27.8 million for the three months ended March 31, 2021. See Note 9, “Long-Term Debt,” for additional information. (f) Included amounts for the three months ended March 31, 2021 recorded in: ▪ SG&A - $5.5 million of expenses primarily related to non-routine labor and compensation related costs that are outside normal compensation arrangements. ▪ Other income, net - $3.9 million of expenses primarily related to asset retirement obligation charges to update of an estimate at a site formerly owned by Albemarle.

Pension Plans and Other Postret

Pension Plans and Other Postretirement Benefits	3 Months Ended
	Mar. 31, 2022
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 periods ended March 31, 2022 and 2021 were as follows (in thousands): Three Months Ended 2022 2021 Pension Benefits Cost (Credit): Service cost $ 985 $ 1,179 Interest cost 5,605 5,119 Expected return on assets (11,212) (10,893) Amortization of prior service benefit 24 29 Total net pension benefits credit $ (4,598) $ (4,566) Postretirement Benefits Cost: Service cost $ 21 $ 31 Interest cost 327 309 Total net postretirement benefits cost $ 348 $ 340 Total net pension and postretirement benefits credit $ (4,250) $ (4,226) All components of net benefit cost (credit), other than service cost, are included in Other income, net on the consolidated statements of income. During the three-month periods ended March 31, 2022 and 2021, we made contributions of $3.2 million and $14.7 million, respectively, to our qualified and nonqualified pension plans. We paid $0.6 million and $0.6 million in premiums to the U.S. postretirement benefit plan during the three-month periods ended March 31, 2022 and 2021, respectively.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2022
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. March 31, 2022 December 31, 2021 Recorded Fair Value Recorded Fair Value (In thousands) Long-term debt $ 2,499,719 $ 2,511,206 $ 2,405,021 $ 2,593,590 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 March 31, 2022 and December 31, 2021, we had outstanding designated foreign currency forward contracts with notional values totaling the equivalent of $86.1 million and $36.5 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 March 31, 2022 and December 31, 2021, we had outstanding non-designated foreign currency forward contracts with notional values totaling $486.9 million and $618.1 million, respectively, hedging our exposure to various currencies including the Chilean peso, Euro, Chinese Renminbi, Japanese Yen, Australian Dollar and Singapore Dollar. The following table summarizes the fair value of our foreign currency forward contracts included in the consolidated balance sheets as of March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 December 31, 2021 Assets Liabilities Assets Liabilities Designated as hedging instruments (a) $ 3,760 $ — $ 237 $ 57 Not Designated as hedging instruments (b) 2,673 168 2,901 248 Total $ 6,433 $ 168 $ 3,138 $ 305 (a) Included $3.8 million in Other current assets at March 31, 2022, and $0.2 million in Other current assets and $0.1 million in Accrued expenses at December 31, 2021. (b) Included $2.7 million in Other current assets and $0.2 million in Accrued expenses at March 31, 2022 and $2.9 million in Other current assets and $0.2 million in Accrued expenses at December 31, 2021. The following table summarizes the net gains (losses) recognized for our foreign currency forward contracts during the three-month periods ended March 31, 2022 and 2021 (in thousands): Three Months Ended 2022 2021 Designated as hedging instruments Income (loss) recognized in Other comprehensive loss $ 4,017 $ (1,600) Not designated as hedging instruments Loss recognized in Other income, net (a) $ (3,972) $ (191) (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 income, net. In addition, for the three-month periods ended March 31, 2022 and 2021, we recorded net cash settlements of $3.3 million and $7.9 million, respectively, in Other, net, in our condensed consolidated statements of cash flows. Unrealized gains and losses related to the cash flow hedges will be reclassified to earnings over the life of the related assets when settled and the related assets are placed into service. 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	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 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) $ 247,107 $ — $ — $ 247,107 Investments under executive deferred compensation plan (b) $ 27,272 $ 27,272 $ — $ — Private equity securities measured at net asset value (c)(d) $ 4,710 $ — $ — $ — Foreign currency forward contracts (e) $ 6,433 $ — $ 6,433 $ — Liabilities: Obligations under executive deferred compensation plan (b) $ 27,272 $ 27,272 $ — $ — Foreign currency forward contracts (e) $ 168 $ — $ 168 $ — December 31, 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) $ 246,517 $ — $ — $ 246,517 Investments under executive deferred compensation plan (b) $ 32,491 $ 32,491 $ — $ — Private equity securities measured at net asset value (c)(d) $ 4,696 $ — $ — $ — Foreign currency forward contracts (e) $ 3,138 $ — $ 3,138 $ — Liabilities: Obligations under executive deferred compensation plan (b) $ 32,491 $ 32,491 $ — $ — Foreign currency forward contracts (e) $ 305 $ — $ 305 $ — (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	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 Balance at December 31, 2021 $ (391,674) $ — $ 6,623 $ (7,399) $ (392,450) Other comprehensive (loss) income before reclassifications (5,909) — 4,017 — (1,892) Amounts reclassified from accumulated other comprehensive loss 20 — — 650 670 Other comprehensive (loss) income, net of tax (5,889) — 4,017 650 (1,222) Other comprehensive income attributable to noncontrolling interests 53 — — — 53 Balance at March 31, 2022 $ (397,510) $ — $ 10,640 $ (6,749) $ (393,619) Three months ended March 31, 2021 Balance at December 31, 2020 $ (369,152) $ 46,593 $ 6,449 $ (10,022) $ (326,132) Other comprehensive (loss) income before reclassifications (28,167) 5,110 (1,600) — (24,657) Amounts reclassified from accumulated other comprehensive loss 25 — — 650 675 Other comprehensive (loss) income, net of tax (28,142) 5,110 (1,600) 650 (23,982) Amounts reclassified within accumulated other comprehensive loss 51,703 (51,703) — — — Balance at March 31, 2021 $ (345,591) $ — $ 4,849 $ (9,372) $ (350,114) (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 (loss) income for the three-month periods ended March 31, 2022 and 2021 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 March 31, 2022 Other comprehensive (loss) income, before tax $ (6,458) $ — $ 4,017 $ 834 Income tax expense 569 — — (184) Other comprehensive (loss) income, net of tax $ (5,889) $ — $ 4,017 $ 650 Three months ended March 31, 2021 Other comprehensive income (loss), before tax $ (28,138) $ 6,552 $ (1,600) $ 834 Income tax (expense) benefit (4) (1,442) — (184) Other comprehensive income (loss), net of tax $ (28,142) $ 5,110 $ (1,600) $ 650

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
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 2022 2021 Sales to unconsolidated affiliates $ 7,655 $ 5,730 Purchases from unconsolidated affiliates (a) $ 216,554 $ 33,150 (a) Increases in purchases from unconsolidated affiliates primarily relate to increased pricing and volume of spodumene purchased 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): March 31, 2022 December 31, 2021 Receivables from unconsolidated affiliates $ 3,743 $ 2,139 Payables to unconsolidated affiliates (a) $ 190,058 $ 47,499

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2022
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): Three Months Ended 2022 2021 Supplemental non-cash disclosure related to investing and financing activities: Capital expenditures included in Accounts payable $ 196,661 $ 151,604 Promissory note issued for capital expenditures (a) $ 10,876 $ — (a) During the first quarter of 2022, the Company issued a promissory note with a present value of $10.9 million for land purchased in Kings Mountain, NC. The promissory note is payable in equal annual installments from the years 2027 to 2048. 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 $65.1 million and $43.2 million of its construction in progress of the designated Kemerton assets during the three months ended March 31, 2022 and 2021, respectively, representing MRL’s 40% interest in the assets. The cash outflow for these assets was recorded in Capital expenditures within Cash flows from investing activities on the

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements: In March 2020, the Financial Accounting Standards Board (“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. The Company currently does not expect this guidance to have a significant impact on its consolidated financial statements. In November 2021, the FASB issued accounting guidance that requires disclosures about government assistance in the notes to the financial statements. This guidance will require the disclosure of: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on a business entity’s financial statements. This guidance is effective for financial statements issued for annual periods beginning after December 15, 2021. The Company currently does not expect this guidance to have a significant impact on its annual financial statement disclosures. In March 2022, the FASB issued accounting guidance that expands the Company’s abilities to hedge the benchmark interest rate risk of portfolios of financial assets or beneficial interests in a fair value hedge. This guidance expands the use of the portfolio layer method to allow multiple hedges of a single closed portfolio of assets using spot starting, forward starting, and amortizing-notional swaps. This also permits both prepayable and non prepayable financial assets to be included in the closed portfolio of assets hedged in a portfolio layer hedge. In addition, this guidance requires that basis adjustments not be allocated to individual assets for active portfolio layer method hedges, but rather be maintained on the closed portfolio of assets as a whole. This guidance is effective for financial statements issued for annual periods beginning after December 15, 2022, including interim periods within those annual periods. The Company currently does not expect this guidance to have a significant impact on its consolidated financial statements.

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	In March 2020, the Financial Accounting Standards Board (“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. The Company currently does not expect this guidance to have a significant impact on its consolidated financial statements. In November 2021, the FASB issued accounting guidance that requires disclosures about government assistance in the notes to the financial statements. This guidance will require the disclosure of: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on a business entity’s financial statements. This guidance is effective for financial statements issued for annual periods beginning after December 15, 2021. The Company currently does not expect this guidance to have a significant impact on its annual financial statement disclosures. In March 2022, the FASB issued accounting guidance that expands the Company’s abilities to hedge the benchmark interest rate risk of portfolios of financial assets or beneficial interests in a fair value hedge. This guidance expands the use of the portfolio layer method to allow multiple hedges of a single closed portfolio of assets using spot starting, forward starting, and amortizing-notional swaps. This also permits both prepayable and non prepayable financial assets to be included in the closed portfolio of assets hedged in a portfolio layer hedge. In addition, this guidance requires that basis adjustments not be allocated to individual assets for active portfolio layer method hedges, but rather be maintained on the closed portfolio of assets as a whole. This guidance is effective for financial statements issued for annual periods beginning after December 15, 2022, including interim periods within those annual periods. The Company currently does not expect this guidance to have a significant impact on its consolidated financial statements.

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Goodwill	The following table summarizes the changes in goodwill by reportable segment for the three months ended March 31, 2022 (in thousands): Lithium Bromine Catalysts Total Balance at December 31, 2021 $ 1,394,182 $ 20,319 $ 183,126 $ 1,597,627 Foreign currency translation adjustments (17,666) — (4,344) (22,010) Balance at March 31, 2022 $ 1,376,516 $ 20,319 $ 178,782 $ 1,575,617
Other Intangibles	The following table summarizes the changes in other intangibles and related accumulated amortization for the three months ended March 31, 2022 (in thousands): Customer Lists and Relationships Trade Names and Trademarks (a) Patents and Technology Other Total Gross Asset Value Balance at December 31, 2021 $ 428,379 $ 17,883 $ 57,313 $ 36,705 $ 540,280 Foreign currency translation adjustments and other (9,652) (117) (498) 685 (9,582) Balance at March 31, 2022 $ 418,727 $ 17,766 $ 56,815 $ 37,390 $ 530,698 Accumulated Amortization Balance at December 31, 2021 $ (163,283) $ (7,983) $ (39,796) $ (20,271) $ (231,333) Amortization (5,437) — (368) (216) (6,021) Foreign currency translation adjustments and other 3,560 70 481 (48) 4,063 Balance at March 31, 2022 $ (165,160) $ (7,913) $ (39,683) $ (20,535) $ (233,291) Net Book Value at December 31, 2021 $ 265,096 $ 9,900 $ 17,517 $ 16,434 $ 308,947 Net Book Value at March 31, 2022 $ 253,567 $ 9,853 $ 17,132 $ 16,855 $ 297,407 (a) Net Book Value includes only indefinite-lived intangible assets.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earning Per Share	Basic and diluted earnings per share for the three-month periods ended March 31, 2022 and 2021 are calculated as follows (in thousands, except per share amounts): Three Months Ended 2022 2021 Basic earnings per share Numerator: Net income attributable to Albemarle Corporation $ 253,383 $ 95,677 Denominator: Weighted-average common shares for basic earnings per share 117,066 112,592 Basic earnings per share $ 2.16 $ 0.85 Diluted earnings per share Numerator: Net income attributable to Albemarle Corporation $ 253,383 $ 95,677 Denominator: Weighted-average common shares for basic earnings per share 117,066 112,592 Incremental shares under stock compensation plans 587 738 Weighted-average common shares for diluted earnings per share 117,653 113,330 Diluted earnings per share $ 2.15 $ 0.84

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Breakdown of Inventories	The following table provides a breakdown of inventories at March 31, 2022 and December 31, 2021 (in thousands): March 31, December 31, 2022 2021 Finished goods $ 656,475 $ 473,836 Raw materials and work in process (a) 276,150 259,221 Stores, supplies and other 81,168 79,863 Total $ 1,013,793 $ 812,920 (a) Included $156.1 million and $149.4 million at March 31, 2022 and December 31, 2021, respectively, of work in process in our Lithium segment.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt at March 31, 2022 and December 31, 2021 consisted of the following (in thousands): March 31, December 31, 2022 2021 1.125% notes due 2025 $ 414,088 $ 426,571 1.625% notes due 2028 549,000 565,550 3.45% Senior notes due 2029 171,612 171,612 4.15% Senior notes due 2024 425,000 425,000 5.45% Senior notes due 2044 350,000 350,000 Credit facilities 280,000 — Commercial paper notes 222,400 388,500 Variable-rate foreign bank loans 4,842 5,226 Finance lease obligations 74,504 75,431 Other 11,001 — Unamortized discount and debt issuance costs (12,956) (13,651) Total long-term debt 2,489,491 2,394,239 Less amounts due within one year 503,795 389,920 Long-term debt, less current portion $ 1,985,696 $ 2,004,319

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Activity in Recorded Environmental Liabilities	The following activity was recorded in environmental liabilities for the three months ended March 31, 2022 (in thousands): Beginning balance at December 31, 2021 $ 46,617 Expenditures (728) Accretion of discount 259 Additions and changes in estimates 2,811 Foreign currency translation adjustments and other (860) Ending balance at March 31, 2022 48,099 Less amounts reported in Accrued expenses 9,925 Amounts reported in Other noncurrent liabilities $ 38,174

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Lease, Cost	The following table provides details of our lease contracts for the three-month periods ended March 31, 2022 and 2021 (in thousands): Three Months Ended 2022 2021 Operating lease cost $ 10,611 $ 9,412 Finance lease cost: Amortization of right of use assets 430 157 Interest on lease liabilities 853 755 Total finance lease cost 1,283 912 Short-term lease cost 2,699 2,604 Variable lease cost 717 2,365 Total lease cost $ 15,310 $ 15,293 Supplemental cash flow information related to our lease contracts for the three-month periods ended March 31, 2022 and 2021 is as follows (in thousands): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 8,637 $ 8,381 Operating cash flows from finance leases 599 439 Financing cash flows from finance leases 515 159 Right-of-use assets obtained in exchange for lease obligations: Operating leases 999 707
Supplemental Balance Sheet Information related to Leases	Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at March 31, 2022 and December 31, 2021 is as follows (in thousands, except as noted): March 31, 2022 December 31, 2021 Operating leases: Other assets $ 144,594 $ 154,741 Accrued expenses 35,285 31,603 Other noncurrent liabilities 116,736 126,997 Total operating lease liabilities 152,021 158,600 Finance leases: Net property, plant and equipment 74,398 75,302 Current portion of long-term debt (a) 3,996 3,768 Long-term debt 73,109 74,011 Total finance lease liabilities 77,105 77,779 Weighted average remaining lease term (in years): Operating leases 12.8 12.9 Finance leases 24.4 24.5 Weighted average discount rate (%): Operating leases 3.48 % 3.44 % Finance leases 4.46 % 4.47 %
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities at March 31, 2022 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2022 $ 29,496 $ 4,015 2023 34,363 6,156 2024 20,847 6,156 2025 12,298 6,156 2026 9,784 5,497 Thereafter 122,294 97,469 Total lease payments 229,082 125,449 Less imputed interest 77,061 48,344 Total $ 152,021 $ 77,105
Finance Lease, Liability, Maturity	Maturities of lease liabilities at March 31, 2022 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2022 $ 29,496 $ 4,015 2023 34,363 6,156 2024 20,847 6,156 2025 12,298 6,156 2026 9,784 5,497 Thereafter 122,294 97,469 Total lease payments 229,082 125,449 Less imputed interest 77,061 48,344 Total $ 152,021 $ 77,105

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Reportable Segments Summarized Financial Information	Three Months Ended 2022 2021 (In thousands) Net sales: Lithium $ 550,272 $ 278,976 Bromine 359,579 280,447 Catalysts 217,877 220,243 All Other — 49,625 Total net sales $ 1,127,728 $ 829,291 Adjusted EBITDA: Lithium $ 308,615 $ 106,436 Bromine 129,234 94,640 Catalysts 16,910 25,427 All Other — 21,479 Corporate (22,829) (17,928) Total adjusted EBITDA $ 431,930 $ 230,054

Pension Plans and Other Postr_2

Pension Plans and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2022
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 periods ended March 31, 2022 and 2021 were as follows (in thousands): Three Months Ended 2022 2021 Pension Benefits Cost (Credit): Service cost $ 985 $ 1,179 Interest cost 5,605 5,119 Expected return on assets (11,212) (10,893) Amortization of prior service benefit 24 29 Total net pension benefits credit $ (4,598) $ (4,566) Postretirement Benefits Cost: Service cost $ 21 $ 31 Interest cost 327 309 Total net postretirement benefits cost $ 348 $ 340 Total net pension and postretirement benefits credit $ (4,250) $ (4,226)

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
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. March 31, 2022 December 31, 2021 Recorded Fair Value Recorded Fair Value (In thousands) Long-term debt $ 2,499,719 $ 2,511,206 $ 2,405,021 $ 2,593,590
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 March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 December 31, 2021 Assets Liabilities Assets Liabilities Designated as hedging instruments (a) $ 3,760 $ — $ 237 $ 57 Not Designated as hedging instruments (b) 2,673 168 2,901 248 Total $ 6,433 $ 168 $ 3,138 $ 305 (a) Included $3.8 million in Other current assets at March 31, 2022, and $0.2 million in Other current assets and $0.1 million in Accrued expenses at December 31, 2021. (b) Included $2.7 million in Other current assets and $0.2 million in Accrued expenses at March 31, 2022 and $2.9 million in Other current assets and $0.2 million in Accrued expenses at December 31, 2021.
Derivative Instruments, Losses	The following table summarizes the net gains (losses) recognized for our foreign currency forward contracts during the three-month periods ended March 31, 2022 and 2021 (in thousands): Three Months Ended 2022 2021 Designated as hedging instruments Income (loss) recognized in Other comprehensive loss $ 4,017 $ (1,600) Not designated as hedging instruments Loss recognized in Other income, net (a) $ (3,972) $ (191) (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 income, net.

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 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) $ 247,107 $ — $ — $ 247,107 Investments under executive deferred compensation plan (b) $ 27,272 $ 27,272 $ — $ — Private equity securities measured at net asset value (c)(d) $ 4,710 $ — $ — $ — Foreign currency forward contracts (e) $ 6,433 $ — $ 6,433 $ — Liabilities: Obligations under executive deferred compensation plan (b) $ 27,272 $ 27,272 $ — $ — Foreign currency forward contracts (e) $ 168 $ — $ 168 $ — December 31, 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) $ 246,517 $ — $ — $ 246,517 Investments under executive deferred compensation plan (b) $ 32,491 $ 32,491 $ — $ — Private equity securities measured at net asset value (c)(d) $ 4,696 $ — $ — $ — Foreign currency forward contracts (e) $ 3,138 $ — $ 3,138 $ — Liabilities: Obligations under executive deferred compensation plan (b) $ 32,491 $ 32,491 $ — $ — Foreign currency forward contracts (e) $ 305 $ — $ 305 $ — (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, 2021 $ 246,517 Fair value adjustment (2,594) Accretion of discount 3,184 Ending balance at March 31, 2022 $ 247,107

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 Balance at December 31, 2021 $ (391,674) $ — $ 6,623 $ (7,399) $ (392,450) Other comprehensive (loss) income before reclassifications (5,909) — 4,017 — (1,892) Amounts reclassified from accumulated other comprehensive loss 20 — — 650 670 Other comprehensive (loss) income, net of tax (5,889) — 4,017 650 (1,222) Other comprehensive income attributable to noncontrolling interests 53 — — — 53 Balance at March 31, 2022 $ (397,510) $ — $ 10,640 $ (6,749) $ (393,619) Three months ended March 31, 2021 Balance at December 31, 2020 $ (369,152) $ 46,593 $ 6,449 $ (10,022) $ (326,132) Other comprehensive (loss) income before reclassifications (28,167) 5,110 (1,600) — (24,657) Amounts reclassified from accumulated other comprehensive loss 25 — — 650 675 Other comprehensive (loss) income, net of tax (28,142) 5,110 (1,600) 650 (23,982) Amounts reclassified within accumulated other comprehensive loss 51,703 (51,703) — — — Balance at March 31, 2021 $ (345,591) $ — $ 4,849 $ (9,372) $ (350,114) (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 (loss) income for the three-month periods ended March 31, 2022 and 2021 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 March 31, 2022 Other comprehensive (loss) income, before tax $ (6,458) $ — $ 4,017 $ 834 Income tax expense 569 — — (184) Other comprehensive (loss) income, net of tax $ (5,889) $ — $ 4,017 $ 650 Three months ended March 31, 2021 Other comprehensive income (loss), before tax $ (28,138) $ 6,552 $ (1,600) $ 834 Income tax (expense) benefit (4) (1,442) — (184) Other comprehensive income (loss), net of tax $ (28,142) $ 5,110 $ (1,600) $ 650

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2022
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 2022 2021 Sales to unconsolidated affiliates $ 7,655 $ 5,730 Purchases from unconsolidated affiliates (a) $ 216,554 $ 33,150 (a) Increases in purchases from unconsolidated affiliates primarily relate to increased pricing and volume of spodumene purchased 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): March 31, 2022 December 31, 2021 Receivables from unconsolidated affiliates $ 3,743 $ 2,139 Payables to unconsolidated affiliates (a) $ 190,058 $ 47,499

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2022
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): Three Months Ended 2022 2021 Supplemental non-cash disclosure related to investing and financing activities: Capital expenditures included in Accounts payable $ 196,661 $ 151,604 Promissory note issued for capital expenditures (a) $ 10,876 $ —

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold	$ 678,698	$ 565,604
Income before income taxes and equity in net income of unconsolidated investments	299,641	123,294
Income tax expense	80,530	22,107
Interest and financing expenses	(27,834)	$ (43,882)
Out-of-period adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Interest and financing expenses			$ 11,400	$ 5,500	$ 600
Revision of Prior Period, Error Correction, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Interest and financing expenses	$ 17,500

Business Combinations and Ass_2

Business Combinations and Asset Acquisitions (Details) - Guangxi Tianyuan New Energy Materials Co Ltd	3 Months Ended
	Mar. 31, 2022USD ($)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	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Disposition of Business		$ (8,400)	$ 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	$ 247,100		$ 246,500
Preferred Stock, Dividend Rate, Percentage	12.00%

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Changes in Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,597,627
Foreign currency translation adjustments	(22,010)
Balance at end of period	1,575,617
Reportable Segments | Lithium
Goodwill [Roll Forward]
Balance at beginning of period	1,394,182
Foreign currency translation adjustments	(17,666)
Balance at end of period	1,376,516
Reportable Segments | Bromine
Goodwill [Roll Forward]
Balance at beginning of period	20,319
Foreign currency translation adjustments	0
Balance at end of period	20,319
Reportable Segments | Catalysts
Goodwill [Roll Forward]
Balance at beginning of period	183,126
Foreign currency translation adjustments	(4,344)
Balance at end of period	$ 178,782

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Other Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	$ 540,280
Foreign currency translation adjustments and other	(9,582)
Gross Asset Value, End of Period	530,698
Accumulated Amortization, Beginning of Period	(231,333)
Amortization	(6,021)
Foreign currency translation adjustments and other	4,063
Accumulated Amortization, End of Period	(233,291)
Net Book Value	297,407	$ 308,947
Customer lists and relationships
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	428,379
Foreign currency translation adjustments and other	(9,652)
Gross Asset Value, End of Period	418,727
Accumulated Amortization, Beginning of Period	(163,283)
Amortization	(5,437)
Foreign currency translation adjustments and other	3,560
Accumulated Amortization, End of Period	(165,160)
Net Book Value	253,567	265,096
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	17,883
Foreign currency translation adjustments and other	(117)
Gross Asset Value, End of Period	17,766
Accumulated Amortization, Beginning of Period	(7,983)
Amortization	0
Foreign currency translation adjustments and other	70
Accumulated Amortization, End of Period	(7,913)
Net Book Value	9,853	9,900
Patents and technology
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	57,313
Foreign currency translation adjustments and other	(498)
Gross Asset Value, End of Period	56,815
Accumulated Amortization, Beginning of Period	(39,796)
Amortization	(368)
Foreign currency translation adjustments and other	481
Accumulated Amortization, End of Period	(39,683)
Net Book Value	17,132	17,517
Other
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	36,705
Foreign currency translation adjustments and other	685
Gross Asset Value, End of Period	37,390
Accumulated Amortization, Beginning of Period	(20,271)
Amortization	(216)
Foreign currency translation adjustments and other	(48)
Accumulated Amortization, End of Period	(20,535)
Net Book Value	$ 16,855	$ 16,434

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	26.90%	17.90%

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
	Mar. 31, 2022	Mar. 31, 2021
Basic earnings per share from continuing operations
Net income attributable to Albemarle Corporation	$ 253,383	$ 95,677
Weighted-average common shares for basic earnings per share (in shares)	117,066	112,592
Basic earnings per share (in dollars per share)	$ 2.16	$ 0.85
Diluted earnings per share from continuing operations
Net income attributable to Albemarle Corporation	$ 253,383	$ 95,677
Weighted-average common shares for basic earnings per share (in shares)	117,066	112,592
Incremental shares under stock compensation plans (in shares)	587	738
Weighted-average common shares outstanding - diluted (in shares)	117,653	113,330
Diluted earnings per share (in dollars per share)	$ 2.15	$ 0.84

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 08, 2021	Mar. 31, 2022	Mar. 31, 2021	May 02, 2022	Feb. 24, 2022	Dec. 31, 2021
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
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	$ 387	$ 1,453,888
Cash dividend, amount per share (in dollars per share)					$ 0.395
Subsequent Event
Earnings Per Share Disclosure [Line Items]
Cash dividend, amount per share (in dollars per share)				$ 0.395

Inventories - Breakdown of inve

Inventories - Breakdown of inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 656,475	$ 473,836
Raw materials and work in process	276,150	259,221
Stores, supplies and other	81,168	79,863
Total inventories	$ 1,013,793	$ 812,920

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Lithium
Inventory [Line Items]
Work in process related to Lithium	$ 156.1	$ 149.4

Investments (Details)

Investments (Details) - USD ($) $ in Millions	Feb. 25, 2021	Mar. 31, 2022	Dec. 31, 2021
Fine Chemistry Services
Schedule of Investments [Line Items]
Preferred Stock, Value, Outstanding	$ 270	$ 247.1	$ 246.5
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		$ 499.8	462.3
Other variable interest entities
Schedule of Investments [Line Items]
Carrying value of unconsolidated investment		$ 8	$ 8

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total long-term Debt	$ 2,489,491	$ 2,394,239
Unamortized discount and debt issuance costs	(12,956)	(13,651)
Current portion of long-term debt	503,795	389,920
Long-term debt	$ 1,985,696	2,004,319
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	$ 414,088	$ 426,571
Debt instrument, interest rate	1.125%	1.125%
Unsecured debt | 1.625% Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 549,000	$ 565,550
Debt instrument, interest rate	1.625%	1.625%
Senior notes | 3.45% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 171,612	$ 171,612
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	$ 280,000	$ 0
Commercial paper notes
Debt Instrument [Line Items]
Total long-term Debt	222,400	388,500
Variable-rate foreign bank loans
Debt Instrument [Line Items]
Total long-term Debt	4,842	5,226
Finance lease obligations
Debt Instrument [Line Items]
Total long-term Debt	74,504	75,431
Other Debt Obligations
Debt Instrument [Line Items]
Total long-term Debt	$ 11,001	$ 0

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Loss on early extinguishment of debt	$ 0	$ (27,798)
Net investment hedge (losses) gains	$ 0	5,110
Interest Expense
Debt Instrument [Line Items]
Loss on early extinguishment of debt		$ 27,800
Commercial paper notes
Debt Instrument [Line Items]
Debt Instrument, Weighted Average Maturity Period	17 days
Weighted average interest rate	1.12%
1.875% Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.875%
Unsecured debt | 1.125% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.125%		1.125%
Senior notes | 3.45% Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.45%		3.45%

Commitments and Contingencies -

Commitments and Contingencies - Activity in Recorded Environmental Liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at beginning of period	$ 46,617
Expenditures	(728)
Accretion of discount	259
Foreign currency translation adjustments and other	(860)
Balance at end of period	48,099
Less amounts reported in Accrued expenses	9,925
Amounts reported in Other noncurrent liabilities	$ 38,174

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Environmental remediation liabilities - discounted	$ 39.3	$ 39.7
Accrual for environmental loss contingencies - weighted-average discount rate	3.50%
Environmental remediation liabilities - undiscounted	$ 69.1	70
Minimum
Loss Contingencies [Line Items]
Potential revision on future environmental remediation costs before tax	10
Maximum
Loss Contingencies [Line Items]
Potential revision on future environmental remediation costs before tax	23
Other noncurrent liabilities
Loss Contingencies [Line Items]
Tax Indemnification Liability	$ 64.9	$ 66.8

Leases - Additional Information

Leases - Additional Information (Details)	Mar. 31, 2022
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
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease cost	$ 10,611	$ 9,412
Amortization of right of use assets	430	157
Interest on lease liabilities	853	755
Total finance lease cost	1,283	912
Short-term lease cost	2,699	2,604
Variable lease cost	717	2,365
Total lease cost	$ 15,310	$ 15,293

Leases - Leases Cash Flow (Deta

Leases - Leases Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating cash flows from operating leases	$ 8,637	$ 8,381
Operating cash flows from finance leases	599	439
Financing cash flows from finance leases	515	159
Right-of-use asset obtained in exchange for operating leases	$ 999	$ 707

Leases - Leases Balance Sheet (

Leases - Leases Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Other assets	$ 144,594	$ 154,741
Accrued expenses	35,285	31,603
Other noncurrent liabilities	116,736	126,997
Total operating lease liabilities	152,021	158,600
Net property, plant and equipment	74,398	75,302
Current portion of long-term debt(a)	3,996	3,768
Long-term debt	73,109	74,011
Total finance lease liabilities	$ 77,105	$ 77,779
Weighted average remaining lease term, operating leases	12 years 9 months 18 days	12 years 10 months 24 days
Weighted average remaining lease term, finance leases	24 years 4 months 24 days	24 years 6 months
Weighted average discount rate, operating leases, percent	3.48%	3.44%
Weighted average discount rate, finance leases, percent	4.46%	4.47%

Leases - Leases Maturity Table

Leases - Leases Maturity Table (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Operating Leases
Remainder of 2022	$ 29,496
2021	34,363
2022	20,847
2023	12,298
2024	9,784
Thereafter	122,294
Total lease payments	229,082
Less imputed interest	77,061
Total operating lease liabilities	152,021	$ 158,600
Finance Leases
Remainder of 2022	4,015
2021	6,156
2022	6,156
2023	6,156
2024	5,497
Thereafter	97,469
Total lease payments	125,449
Less imputed interest	48,344
Total finance lease liabilities	$ 77,105	$ 77,779

Segment Information - Additiona

Segment Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022segment
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
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 1,127,728	$ 829,291
Adjusted EBITDA	431,930	230,054
Net income attributable to Albemarle Corporation	253,383	95,677
Depreciation and amortization	66,574	62,260
Gain (Loss) on Disposition of Business	8,400	0
Acquisition and integration related costs	1,724	2,162
Interest and financing expenses	27,834	43,882
Income tax expense	80,530	22,107
Non-operating pension and OPEB items	(5,280)	(5,465)
Other	(1,235)	9,431
All Other
Segment Reporting Information [Line Items]
Net sales	0	49,625
Adjusted EBITDA	0	21,479
Net income attributable to Albemarle Corporation	0	20,016
Depreciation and amortization	0	1,463
Gain (Loss) on Disposition of Business	0
Acquisition and integration related costs	0	0
Interest and financing expenses	0	0
Income tax expense	0	0
Non-operating pension and OPEB items	0	0
Other	0	0
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA	(22,829)	(17,928)
Net income attributable to Albemarle Corporation	(128,856)	(93,998)
Depreciation and amortization	2,454	3,953
Acquisition and integration related costs	1,724	2,162
Interest and financing expenses	27,834	43,882
Income tax expense	80,530	22,107
Non-operating pension and OPEB items	(5,280)	(5,465)
Other	(1,235)	9,431
Reportable Segments | Lithium
Segment Reporting Information [Line Items]
Net sales	550,272	278,976
Adjusted EBITDA	308,615	106,436
Net income attributable to Albemarle Corporation	261,689	74,630
Depreciation and amortization	38,526	31,806
Gain (Loss) on Disposition of Business	8,400
Acquisition and integration related costs	0	0
Interest and financing expenses	0	0
Income tax expense	0	0
Non-operating pension and OPEB items	0	0
Other	0	0
Reportable Segments | Bromine
Segment Reporting Information [Line Items]
Net sales	359,579	280,447
Adjusted EBITDA	129,234	94,640
Net income attributable to Albemarle Corporation	116,561	82,113
Depreciation and amortization	12,673	12,527
Gain (Loss) on Disposition of Business	0
Acquisition and integration related costs	0	0
Interest and financing expenses	0	0
Income tax expense	0	0
Non-operating pension and OPEB items	0	0
Other	0	0
Reportable Segments | Catalysts
Segment Reporting Information [Line Items]
Net sales	217,877	220,243
Adjusted EBITDA	16,910	25,427
Net income attributable to Albemarle Corporation	3,989	12,916
Depreciation and amortization	12,921	12,511
Gain (Loss) on Disposition of Business	0
Acquisition and integration related costs	0	0
Interest and financing expenses	0	0
Income tax expense	0	0
Non-operating pension and OPEB items	0	0
Other	0	0
Reportable Segments | Reportable Segments Total
Segment Reporting Information [Line Items]
Adjusted EBITDA	454,759	226,503
Net income attributable to Albemarle Corporation	382,239	169,659
Depreciation and amortization	64,120	56,844
Gain (Loss) on Disposition of Business	8,400
Acquisition and integration related costs	0	0
Interest and financing expenses	0	0
Income tax expense	0	0
Non-operating pension and OPEB items	0	0
Other	0	$ 0
Corporate
Segment Reporting Information [Line Items]
Gain (Loss) on Disposition of Business	$ 0

Segment Information - Summari_2

Segment Information - Summarized Financial Information by Reportable Segments (Footnote) (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Loss on early extinguishment of debt		$ 0	$ (27,798)
Accrual for Environmental Loss Contingencies, Period Increase (Decrease)		$ 2,811
Lithium Hydroxide Conversion Assets
Segment Reporting Information [Line Items]
Ownership percentage	40.00%	40.00%
Selling, general and administrative expenses
Segment Reporting Information [Line Items]
Non-routine Chilean labor costs		$ 5,500
Gain on sale of idle properties		4,300
Accrual for Environmental Loss Contingencies, Period Increase (Decrease)		2,800
Other Restructuring Costs		700
Other (expenses) income, net
Segment Reporting Information [Line Items]
Asset Retirement Obligation, Liabilities Incurred		3,900
Interest Expense
Segment Reporting Information [Line Items]
Loss on early extinguishment of debt			$ 27,800
Other Expense
Segment Reporting Information [Line Items]
Proceeds from Legal Settlements		$ 600

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
	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Total net pension and postretirement benefits credit	$ (4,250)	$ (4,226)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	985	1,179
Interest cost	5,605	5,119
Expected return on assets	(11,212)	(10,893)
Amortization of prior service benefit	24	29
Total net pension and postretirement benefits credit	(4,598)	(4,566)
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	21	31
Interest cost	327	309
Total net pension and postretirement benefits credit	$ 348	$ 340

Pension Plans and Other Postr_4

Pension Plans and Other Postretirement Benefits - Pension and Postretirement Plan Contributions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Retirement Benefits [Abstract]
Employer contributions	$ 3.2	$ 14.7
Payment for other postretirement benefits	$ 0.6	$ 0.6

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Value of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Total long-term debt, excluding debt issuance costs	$ 2,499,719	$ 2,405,021
Total long-term debt, fair value, excluding debt issuance costs	$ 2,511,206	$ 2,593,590

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Fair Value, Option, Quantitative Disclosures [Line Items]
Foreign currency forward contracts, assets	$ 6,433		$ 3,138
Foreign currency forward contracts, liabilities	168		305
Recognized gains (losses) of foreign currency forward contracts designated as hedging instruments	4,017	$ (1,600)
Forward contracts | Other, net
Fair Value, Option, Quantitative Disclosures [Line Items]
Cash settlements		7,900
Derivative, Cash Received on Hedge	(3,300)
Designated as Hedging Instrument | Forward contracts
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, notional amount	86,100		36,500
Fair value foreign currency forward contracts designated as hedging instruments, asset	3,760		237
Fair value foreign currency forward contracts designated as hedging instruments, liabilities	0		57
Recognized gains (losses) of foreign currency forward contracts designated as hedging instruments	4,017	(1,600)
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			200
Fair value foreign currency forward contracts not designated as hedging instruments, asset	3,800
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			100
Not Designated as Hedging Instrument | Forward contracts
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, notional amount	486,900		618,100
Fair value foreign currency forward contracts not designated as hedging instruments, asset	2,673		2,901
Fair value foreign currency forward contracts not designated as hedging instruments, liabilities	168		248
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		2,900
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	200		$ 200
Not Designated as Hedging Instrument | Forward contracts | Other (expenses) income, net
Fair Value, Option, Quantitative Disclosures [Line Items]
Recognized (losses) gains of foreign currency forward contracts not designated as hedging instruments	$ (3,972)	$ (191)

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments under executive deferred compensation plan	$ 27,272	$ 32,491
Private equity securities measured at net asset value	4,710	4,696
Foreign currency forward contracts, assets	6,433	3,138
Obligations under executive deferred compensation plan	27,272	32,491
Foreign currency forward contracts, liabilities	168	305
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	247,107	246,517
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	(2,594)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Accretion of Discount	3,184
Debt Securities, Available-for-sale	247,107	246,517
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	27,272	32,491
Foreign currency forward contracts, assets	0	0
Obligations under executive deferred compensation plan	27,272	32,491
Foreign currency forward contracts, liabilities	0	0
Debt Securities, Available-for-sale	0	0
Quoted Prices in Active Markets for Similar Items (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments under executive deferred compensation plan	0	0
Foreign currency forward contracts, assets	6,433	3,138
Obligations under executive deferred compensation plan	0	0
Foreign currency forward contracts, liabilities	168	305
Debt Securities, Available-for-sale	0	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	$ 247,107	$ 246,517

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
	Mar. 31, 2022	Mar. 31, 2021
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	$ 5,805,607	$ 4,468,594
Other comprehensive income (loss), before reclassifications	(1,892)	(24,657)
Amounts reclassified within accumulated other comprehensive loss		0
Amounts reclassified from accumulated other comprehensive loss	670	675
Total other comprehensive loss, net of tax	(1,222)	(23,982)
Other comprehensive (income) loss attributable to noncontrolling interests	53
Ending Balance	$ 6,035,052	5,942,553
1.875% Senior Notes
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Debt instrument, interest rate	1.875%
Foreign Currency Translation and Other
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	$ (391,674)	(369,152)
Other comprehensive income (loss), before reclassifications	(5,909)	(28,167)
Amounts reclassified within accumulated other comprehensive loss		51,703
Amounts reclassified from accumulated other comprehensive loss	20	25
Total other comprehensive loss, net of tax	(5,889)	(28,142)
Other comprehensive (income) loss attributable to noncontrolling interests	53
Ending Balance	(397,510)	(345,591)
Net Investment Hedge
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	0	46,593
Other comprehensive income (loss), before reclassifications	0	5,110
Amounts reclassified within accumulated other comprehensive loss		(51,703)
Amounts reclassified from accumulated other comprehensive loss	0	0
Total other comprehensive loss, net of tax	0	5,110
Other comprehensive (income) loss attributable to noncontrolling interests	0
Ending Balance	0	0
Cash Flow Hedge
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	6,623	6,449
Other comprehensive income (loss), before reclassifications	4,017	(1,600)
Amounts reclassified within accumulated other comprehensive loss		0
Amounts reclassified from accumulated other comprehensive loss	0	0
Total other comprehensive loss, net of tax	4,017	(1,600)
Other comprehensive (income) loss attributable to noncontrolling interests	0
Ending Balance	10,640	4,849
Interest Rate Swap
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(7,399)	(10,022)
Other comprehensive income (loss), before reclassifications	0	0
Amounts reclassified within accumulated other comprehensive loss		0
Amounts reclassified from accumulated other comprehensive loss	650	650
Total other comprehensive loss, net of tax	650	650
Other comprehensive (income) loss attributable to noncontrolling interests	0
Ending Balance	(6,749)	(9,372)
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(392,450)	(326,132)
Total other comprehensive loss, net of tax	(1,169)	(23,982)
Ending Balance	$ (393,619)	$ (350,114)

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
	Mar. 31, 2022	Mar. 31, 2021
Accumulated Other Comprehensive (Loss) Income [Line Items]
Total other comprehensive loss, net of tax	$ (1,222)	$ (23,982)
Foreign Currency Translation and Other
Equity [Abstract]
Other comprehensive income (loss), before tax	(6,458)	(28,138)
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	(6,458)	(28,138)
Income tax (expense) benefit	569	(4)
Total other comprehensive loss, net of tax	(5,889)	(28,142)
Net Investment Hedge
Equity [Abstract]
Other comprehensive income (loss), before tax	0	6,552
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	0	6,552
Income tax (expense) benefit	0	(1,442)
Total other comprehensive loss, net of tax	0	5,110
Cash Flow Hedge
Equity [Abstract]
Other comprehensive income (loss), before tax	4,017	(1,600)
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	4,017	(1,600)
Income tax (expense) benefit	0	0
Total other comprehensive loss, net of tax	4,017	(1,600)
Interest Rate Swap
Equity [Abstract]
Other comprehensive income (loss), before tax	834	834
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	834	834
Income tax (expense) benefit	(184)	(184)
Total other comprehensive loss, net of tax	$ 650	$ 650

Related Party Transactions (Det

Related Party Transactions (Details) - Unconsolidated Affiliates - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Sales to unconsolidated affiliates	$ 7,655	$ 5,730
Purchases from unconsolidated affiliates	216,554	$ 33,150
Receivables from unconsolidated affiliates	3,743		$ 2,139
Payables to unconsolidated affiliates(a)	$ 190,058		$ 47,499

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of supplemental information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Supplemental Cash Flow Information [Abstract]
Capital expenditures included in Accounts payable	$ 196,661	$ 151,604
Notes Issued	$ 10,876	$ 0

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Additional Information (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Mar. 31, 2022	Mar. 31, 2021
Cash Flow Supplemental Disclosures [Line Items]
Capital expenditures		$ 231,698	$ 179,683
Non-cash transfer of 40% value of construction in progress of Kemerton plant to MRL		$ 65,100	43,223
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%	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		$ 65,100	$ 43,200