Albemarle (ALB) 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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
Entity Common Stock, Shares Outstanding		117,540,339
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000915913
Current Fiscal Year End Date	--12-31
Common Stock
Document Information [Line Items]
Title of each class	COMMON STOCK, $.01 Par Value
Trading Symbol	ALB
Security Exchange Name	NYSE
Series A Preferred Stock
Document Information [Line Items]
Title of each class	DEPOSITARY SHARES, each representing a 1/20th interest in a share of 7.25% Series A Mandatory Convertible Preferred Stock
Trading Symbol	ALB PR A
Security Exchange Name	NYSE

Consolidated Statements of (Los

Consolidated Statements of (Loss) Income - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales		$ 1,354,692	$ 2,310,596	$ 4,145,813	$ 7,261,038
Cost of goods sold	[1]	1,458,726	2,255,662	4,221,487	5,371,077
Gross (loss) profit		(104,034)	54,934	(75,674)	1,889,961
Selling, general and administrative expenses		154,253	172,109	482,052	716,046
Restructuring charges and asset write-offs		828,146	1,757	1,156,522	9,196
Research and development expenses		22,397	21,082	66,699	62,972
Operating (loss) profit		(1,108,830)	(140,014)	(1,780,947)	1,101,747
Interest and financing expenses		(47,760)	(29,332)	(120,916)	(81,686)
Other (expenses) income, net		(22,256)	11,182	61,311	147,628
(Loss) income before income taxes and equity in net income of unconsolidated investments		(1,178,846)	(158,164)	(1,840,552)	1,167,689
Income tax expense (benefit)		110,853	(8,551)	76,472	311,399
(Loss) income before equity in net income of unconsolidated investments		(1,289,699)	(149,613)	(1,917,024)	856,290
Equity in net income of unconsolidated investments (net of tax)		229,058	470,306	696,436	1,417,545
Net (loss) income		(1,060,641)	320,693	(1,220,588)	2,273,835
Net income attributable to noncontrolling interests		(8,351)	(18,160)	(34,154)	(82,679)
Net (loss) income attributable to Albemarle Corporation		(1,068,992)	302,533	(1,254,742)	2,191,156
Mandatory convertible preferred stock dividends		(41,687)	0	(94,959)	0
Net (loss) income attributable to Albemarle Corporation common shareholders		$ (1,110,679)	$ 302,533	$ (1,349,701)	$ 2,191,156
Basic (loss) earnings per share attributable to common shareholders (in dollars per share)		$ (9.45)	$ 2.58	$ (11.49)	$ 18.68
Diluted (loss) earnings per share attributable to common shareholders (in dollars per share)		$ (9.45)	$ 2.57	$ (11.49)	$ 18.60
Weighted-average common shares outstanding - basic (in shares)		117,535	117,349	117,505	117,304
Weighted-average common shares outstanding - diluted (in shares)		117,535	117,783	117,505	117,797
[1] Included purchases from related unconsolidated affiliates of $441.1 million and $634.7 million for the three-month periods ended September 30, 2024 and 2023, respectively, and $1.6 billion and $1.4 billion for the nine-month periods ended September 30, 2024 and 2023, respectively.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (1,060,641)	$ 320,693	$ (1,220,588)	$ 2,273,835
Other comprehensive income (loss), net of tax:
Foreign currency translation and other	158,724	(143,957)	61,753	(103,376)
Cash flow hedge	9,215	(39,088)	(2,828)	(36,961)
Total other comprehensive income (loss), net of tax	167,939	(183,045)	58,925	(140,337)
Comprehensive (loss) income	(892,702)	137,648	(1,161,663)	2,133,498
Comprehensive income attributable to noncontrolling interests	(8,509)	(18,141)	(34,323)	(82,652)
Comprehensive (loss) income attributable to Albemarle Corporation	$ (901,211)	$ 119,507	$ (1,195,986)	$ 2,050,846

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,664,519	$ 889,900
Trade accounts receivable, less allowance for credit losses (2024 – $2,161; 2023 – $2,808)	749,792	1,213,160
Other accounts receivable	268,696	509,097
Inventories	1,657,688	2,161,287
Other current assets	328,915	443,475
Total current assets	4,669,610	5,216,919
Property, plant and equipment, at cost	12,376,369	12,233,757
Less accumulated depreciation and amortization	3,117,917	2,738,553
Net property, plant and equipment	9,258,452	9,495,204
Investments	1,179,598	1,369,855
Other assets	463,690	297,087
Goodwill	1,637,758	1,629,729
Other intangibles, net of amortization	246,078	261,858
Total assets	17,455,186	18,270,652
Current liabilities:
Accrued expenses	513,122	544,835
Current portion of long-term debt	3,012	625,761
Dividends payable	61,262	46,666
Income taxes payable	110,514	255,155
Total current liabilities	1,910,720	3,560,462
Long-term debt	3,565,990	3,541,002
Postretirement benefits	25,959	26,247
Pension benefits	143,666	150,312
Other noncurrent liabilities	791,823	769,100
Deferred income taxes	526,367	558,430
Commitments and contingencies (Note 7)
Albemarle Corporation shareholders’ equity:
Common stock, $.01 par value, authorized – 275,000, issued and outstanding – 117,538 in 2024 and 117,356 in 2023	1,176	1,174
Mandatory convertible preferred stock, Series A, no par value, $1,000 stated value, authorized – 15,000, issued and outstanding – 2,300 in 2024 and 0 in 2023	2,235,105	0
Additional paid-in capital	2,978,387	2,952,517
Accumulated other comprehensive loss	(469,770)	(528,526)
Retained earnings	5,495,697	6,987,015
Total Albemarle Corporation shareholders’ equity	10,240,595	9,412,180
Noncontrolling interests	250,066	252,919
Total equity	10,490,661	9,665,099
Total liabilities and equity	17,455,186	18,270,652
Nonrelated Party
Current liabilities:
Accounts payable	1,070,717	1,537,859
Related Party
Current liabilities:
Accounts payable	$ 152,093	$ 550,186

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,161	$ 2,808
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	117,538,000	117,356,000
Common stock, authorized (in shares)	275,000,000	275,000,000
Common stock, outstanding (in shares)	117,538,000	117,356,000
Preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Preferred stock, authorized (in shares)	15,000,000	15,000,000
Preferred stock, issued (in shares)	2,300,000	0
Preferred stock, outstanding (in shares)	2,300,000	0

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($)	Total	Total Albemarle Shareholders’ Equity	Common Stock	Mandatory Convertible Preferred Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Noncontrolling Interests
Beginning Balance (in shares) at Dec. 31, 2022			117,168,366	0
Beginning Balance at Dec. 31, 2022	$ 8,190,847,000	$ 7,982,627,000	$ 1,172,000	$ 0	$ 2,940,840,000	$ (560,662,000)	$ 5,601,277,000	$ 208,220,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	2,273,835,000	2,191,156,000					2,191,156,000	82,679,000
Other comprehensive (loss) income	(140,337,000)	(140,310,000)				(140,310,000)		(27,000)
Common stock dividends declared	(167,043,000)	(140,795,000)					(140,795,000)	(26,248,000)
Mandatory convertible preferred stock cumulative dividends	0
Stock-based compensation	31,186,000	31,186,000			31,186,000
Exercise of stock options (in shares)			1,812
Exercise of stock options	117,000	117,000	$ 0		117,000
Issuance of common stock, net (in shares)			293,891
Issuance of common stock, net	0	0	$ 3,000		(3,000)
Withholding taxes paid on stock-based compensation award distributions (in shares)			(112,352)
Withholding taxes paid on stock-based compensation award distributions	(26,166,000)	(26,166,000)	$ (1,000)		(26,165,000)
Ending Balance (in shares) at Sep. 30, 2023			117,351,717	0
Ending Balance at Sep. 30, 2023	10,162,439,000	9,897,815,000	$ 1,174,000	$ 0	2,945,975,000	(700,972,000)	7,651,638,000	264,624,000
Beginning Balance (in shares) at Jun. 30, 2023			117,339,879	0
Beginning Balance at Jun. 30, 2023	10,088,040,000	9,815,309,000	$ 1,174,000	$ 0	2,936,036,000	(517,946,000)	7,396,045,000	272,731,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	320,693,000	302,533,000					302,533,000	18,160,000
Other comprehensive (loss) income	(183,045,000)	(183,026,000)				(183,026,000)		(19,000)
Common stock dividends declared	(73,188,000)	(46,940,000)					(46,940,000)	(26,248,000)
Mandatory convertible preferred stock cumulative dividends	0
Stock-based compensation	11,159,000	11,159,000			11,159,000
Exercise of stock options (in shares)			592
Exercise of stock options	36,000	36,000	$ 0		36,000
Issuance of common stock, net (in shares)			17,031
Issuance of common stock, net	0	0	$ 0		0
Withholding taxes paid on stock-based compensation award distributions (in shares)			(5,785)
Withholding taxes paid on stock-based compensation award distributions	(1,256,000)	(1,256,000)	$ 0		(1,256,000)
Ending Balance (in shares) at Sep. 30, 2023			117,351,717	0
Ending Balance at Sep. 30, 2023	10,162,439,000	9,897,815,000	$ 1,174,000	$ 0	2,945,975,000	(700,972,000)	7,651,638,000	264,624,000
Beginning Balance (in shares) at Dec. 31, 2023			117,356,270	0
Beginning Balance at Dec. 31, 2023	9,665,099,000	9,412,180,000	$ 1,174,000	$ 0	2,952,517,000	(528,526,000)	6,987,015,000	252,919,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(1,220,588,000)	(1,254,742,000)					(1,254,742,000)	34,154,000
Other comprehensive (loss) income	58,925,000	58,756,000				58,756,000		169,000
Common stock dividends declared	(178,793,000)	(141,617,000)					(141,617,000)	(37,176,000)
Mandatory convertible preferred stock cumulative dividends	(94,959,000)	(94,959,000)					(94,959,000)
Stock-based compensation	25,105,000	25,105,000			25,105,000
Exercise of stock options (in shares)			1,920
Exercise of stock options	114,000	114,000	$ 0		114,000
Issuance of common stock, net (in shares)			273,834
Issuance of common stock, net	11,546,000	11,546,000	$ 3,000		11,543,000
Issuance of mandatory convertible preferred stock, net (in shares)				2,300,000
Issuance of mandatory convertible preferred stock, net	2,235,105,000	2,235,105,000		$ 2,235,105,000
Withholding taxes paid on stock-based compensation award distributions (in shares)			(94,190)
Withholding taxes paid on stock-based compensation award distributions	(10,893,000)	(10,893,000)	$ (1,000)		(10,892,000)
Ending Balance (in shares) at Sep. 30, 2024			117,537,834	2,300,000
Ending Balance at Sep. 30, 2024	10,490,661,000	10,240,595,000	$ 1,176,000	$ 2,235,105,000	2,978,387,000	(469,770,000)	5,495,697,000	250,066,000
Beginning Balance (in shares) at Jun. 30, 2024			117,528,174	2,300,000
Beginning Balance at Jun. 30, 2024	11,483,155,000	11,222,559,000	$ 1,175,000	$ 2,235,105,000	2,969,851,000	(637,551,000)	6,653,979,000	260,596,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(1,060,641,000)	(1,068,992,000)					(1,068,992,000)	8,351,000
Other comprehensive (loss) income	167,939,000	167,781,000				167,781,000		158,000
Common stock dividends declared	(66,642,000)	(47,603,000)					(47,603,000)	(19,039,000)
Mandatory convertible preferred stock cumulative dividends	(41,687,000)	(41,687,000)					(41,687,000)
Stock-based compensation	8,723,000	8,723,000			8,723,000
Exercise of stock options (in shares)			500
Exercise of stock options	28,000	28,000	$ 0		28,000
Issuance of common stock, net (in shares)			11,621
Issuance of common stock, net	1,000	1,000	$ 1,000		0
Withholding taxes paid on stock-based compensation award distributions (in shares)			(2,461)
Withholding taxes paid on stock-based compensation award distributions	(215,000)	(215,000)	$ 0		(215,000)
Ending Balance (in shares) at Sep. 30, 2024			117,537,834	2,300,000
Ending Balance at Sep. 30, 2024	$ 10,490,661,000	$ 10,240,595,000	$ 1,176,000	$ 2,235,105,000	$ 2,978,387,000	$ (469,770,000)	$ 5,495,697,000	$ 250,066,000

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Financial Position [Abstract]
Cash dividends declared (in dollars per share)	$ 0.405	$ 0.40	$ 1.205	$ 1.20

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Cash and cash equivalents at beginning of year	$ 889,900	$ 1,499,142
Cash flows from operating activities:
Net (loss) income	(1,220,588)	2,273,835
Adjustments to reconcile net (loss) income to cash flows from operating activities:
Depreciation and amortization	425,532	285,801
Non-cash restructuring and asset write-offs	1,075,888	0
Stock-based compensation and other	24,443	29,465
Equity in net income of unconsolidated investments (net of tax)	(696,436)	(1,417,545)
Dividends received from unconsolidated investments and nonmarketable securities	348,358	1,939,225
Pension and postretirement expense	3,806	5,925
Pension and postretirement contributions	(13,339)	(12,243)
Realized loss on investments in marketable securities	33,746	0
Unrealized loss (gain) on investments in marketable securities	26,982	(36,740)
Deferred income taxes	(112,777)	(182,764)
Working capital changes	823,194	(1,332,042)
Other, net	(17,415)	(129,377)
Net cash provided by operating activities	701,394	1,423,540
Cash flows from investing activities:
Acquisitions, net of cash acquired	0	(43,207)
Capital expenditures	(1,330,062)	(1,465,193)
Sales (purchases) of marketable securities, net	83,651	(205,952)
Investments in equity investments and nonmarketable securities	(217)	(1,279)
Net cash used in investing activities	(1,246,628)	(1,715,631)
Cash flows from financing activities:
Proceeds from issuance of mandatory convertible preferred stock, net of issuance costs	2,236,750	0
Repayments of long-term debt and credit agreements	(84,403)	0
Proceeds from borrowings of long-term debt and credit agreements	84,403	300,000
Other debt (repayments) borrowings, net	(629,434)	172,791
Dividends paid to common shareholders	(140,929)	(140,251)
Dividends paid to mandatory convertible preferred shareholders	(81,059)	0
Dividends paid to noncontrolling interests	(37,176)	(79,393)
Proceeds from exercise of stock options	114	117
Withholding taxes paid on stock-based compensation award distributions	(10,892)	(26,166)
Other	(2,758)	(191)
Net cash provided by financing activities	1,334,616	226,907
Net effect of foreign exchange on cash and cash equivalents	(14,763)	167,710
Increase in cash and cash equivalents	774,619	102,526
Cash and cash equivalents at end of period	$ 1,664,519	$ 1,601,668

Consolidated Statements of (L_2

Consolidated Statements of (Loss) Income (Parenthetical) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cost of goods sold	[1]	$ 1,458,726	$ 2,255,662	$ 4,221,487	$ 5,371,077
Related Party
Cost of goods sold		$ 441,100	$ 634,700	$ 1,600,000	$ 1,400,000
[1] Included purchases from related unconsolidated affiliates of $441.1 million and $634.7 million for the three-month periods ended September 30, 2024 and 2023, respectively, and $1.6 billion and $1.4 billion for the nine-month periods ended September 30, 2024 and 2023, respectively.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation: In the opinion of management, the accompanying unaudited condensed consolidated financial statements of Albemarle Corporation and our wholly-owned, majority-owned and controlled subsidiaries (collectively, “Albemarle,” “we,” “us,” “our” or the “Company”) contain all adjustments necessary for a fair statement, in all material respects, of our consolidated balance sheets as of September 30, 2024 and December 31, 2023, our consolidated statements of (loss) income, consolidated statements of comprehensive (loss) income and consolidated statements of changes in equity for the three- and nine-month periods ended September 30, 2024 and 2023 and our condensed consolidated statements of cash flows for the nine-month periods ended September 30, 2024 and 2023. 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, 2023, as filed with the U.S. Securities and Exchange Commission (“SEC”) on February 15, 2024. The December 31, 2023 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- and nine-month periods ended September 30, 2024 are not necessarily indicative of the results to be expected for the full year. Cost of goods sold for the three- and nine-month periods ended September 30, 2024 includes income of $17.4 million for the correction of out of period errors pertaining to an overstated accrual for a profit sharing arrangement with the partner of one of the Company’s joint ventures. For the three-month periods ended September 30, 2023 and December 31, 2023, Cost of goods sold was overstated by $8.3 million and $9.1 million, respectively. The Company believes these adjustments are not material to the consolidated financial statements for any of the prior periods presented or to the three-month period ended September 30, 2024, in which the corrections were made.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories: The following table provides a breakdown of inventories at September 30, 2024 and December 31, 2023 (in thousands): September 30, December 31, 2024 2023 Finished goods $ 1,054,496 $ 1,624,893 Raw materials and work in process (a) 444,282 401,050 Stores, supplies and other 158,910 135,344 Total (b) $ 1,657,688 $ 2,161,287 (a) Includes $295.2 million and $213.4 million at September 30, 2024 and December 31, 2023, respectively, of work in process in our Energy Storage segment. (b) During the year ended December 31, 2023, the Company recorded a $604.1 million charge in Cost of goods sold to reduce the value of certain spodumene and finished goods to their net realizable value following the decline in lithium market pricing at the end of the year. The Company purchases certain of its inventory from its equity method investments (primarily the Windfield Holdings Pty. Ltd. (“Windfield”) joint venture) and eliminates the balance of intra-entity profits on purchases of such inventory that remains unsold at the balance sheet in Inventories, specifically finished goods and equally reduces Equity in net income of unconsolidated investments (net of tax) on the consolidated statements of (loss) income. The balance of intra-entity profits on inventory purchased from equity method investments in Inventories totaled $86.7 million and $559.6 million at September 30, 2024 and December 31, 2023, respectively. The intra-entity profit is recognized in Equity in net income of unconsolidated investments (net of tax) in the period that converted inventory is sold to a third-party customer. In the same period, the intra-entity profit is also recognized as higher Cost of goods sold on the consolidated statements of (loss) income.

Other Current Assets

Other Current Assets	9 Months Ended
	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets	Other Current Assets: The following table provides a breakdown of other current assets at September 30, 2024 and December 31, 2023 (in thousands): September 30, December 31, 2024 2023 Income tax receivables $ 200,441 $ 112,953 Prepaid taxes 55,464 207,894 Other prepaid expenses 72,326 116,033 Other 684 6,595 Total $ 328,915 $ 443,475

Investments

Investments	9 Months Ended
	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments: Proportionately Consolidated Joint Ventures On October 18, 2023, the Company closed on the restructuring of the MARBL lithium joint venture in Australia (“MARBL”) with Mineral Resources Limited (“MRL”). This updated structure is intended to simplify the commercial operation agreements previously entered into, allowed us to retain full control of downstream conversion assets and provide greater strategic opportunities for each company based on their global operations and the evolving lithium market. Under the amended agreements, Albemarle acquired the remaining 40% ownership of the Kemerton lithium hydroxide processing facility in Australia that was jointly owned with MRL through the MARBL joint venture. Following this restructuring, Albemarle and MRL each own 50% of the Wodgina Lithium Mine Project (“Wodgina”), and MRL operates the Wodgina mine on behalf of the joint venture. During the fourth quarter of 2023, Albemarle paid MRL approximately $380 million in cash, which included $180 million of consideration for the remaining ownership of Kemerton as well as a payment for the economic effective date of the transaction being retroactive to April 1, 2022. This joint venture is unincorporated with each investor holding an undivided interest in each asset and proportionately liable for each liability; therefore our proportionate share of assets, liabilities, revenue and expenses are included in the appropriate classifications in the consolidated financial statements. Unconsolidated Joint Ventures The following table details the Company’s equity in net income of unconsolidated investments (net of tax) for the three-month and nine-month periods ended September 30, 2024 and 2023 (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Windfield $ 227,266 $ 465,931 $ 678,940 $ 1,399,173 Other joint ventures 1,792 4,375 17,496 18,372 Total $ 229,058 $ 470,306 $ 696,436 $ 1,417,545 The Company holds a 49% equity interest in 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 the Company’s 49% equity interest in Windfield, which is the Company’s most significant VIE, was $637.9 million and $712.0 million at September 30, 2024 and December 31, 2023, respectively. The Company’s 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. The following table summarizes the unaudited results of operations for the Windfield joint venture, which met the significant subsidiary test for subsidiaries not consolidated or 50% or less owned persons under Rule 10-01 of Regulation S-X, for the three-month and nine-month periods ended September 30, 2024 and 2023 (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net sales $ 338,844 $ 1,478,430 $ 1,070,835 $ 5,756,748 Gross profit 244,490 1,410,698 786,082 5,556,634 Income before income taxes 205,071 1,353,249 626,023 5,289,278 Net income 143,147 947,275 436,247 3,702,503 Public Equity Securities Included in the Company’s investments balance are holdings in equity securities of public companies. The fair value is measured using publicly available share prices of the investments, with any changes reported in Other (expenses) income, net in our consolidated statements of (loss) income. During the nine-month period ended September 30, 2023, the Company purchased approximately $203.4 million of shares in publicly-traded companies. In addition, during the three-month and nine-month periods ended September 30, 2024, the Company recorded unrealized mark-to-market losses of $5.0 million and $32.2 million, respectively, in Other (expenses) income, net for all public equity securities held at the end of the balance sheet date. During the three-month and nine-month periods ended September 30, 2023, the Company recorded unrealized mark-to-market (losses) gains of ($26.4) million and $34.4 million, respectively, in Other (expenses) income, net for all public equity securities held at the end of the balance sheet date. In January 2024, the Company sold equity securities of a public company for proceeds of approximately $81.5 million. As a result of the sale, the Company realized a loss of $33.7 million in the nine months ended September 30, 2024. Other As part of the proceeds from the sale of the fine chemistry services (“FCS”) business on June 1, 2021, W.R. Grace & Co. (“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 began accruing payment-in-kind (“PIK”) dividends at an annual rate of 12% on June 1, 2023. In addition, the preferred equity can be redeemed by Albemarle when the accumulated balance reaches 200% of the original value. This preferred equity had a fair value of $304.5 million and $289.3 million at September 30, 2024 and December 31, 2023, respectively, which is reported in Investments in the consolidated balance sheets.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	Goodwill and Other Intangibles: The following table summarizes the changes in goodwill by reportable segment for the nine-month period ended September 30, 2024 (in thousands): Energy Storage Specialties Ketjen Total Balance at December 31, 2023 (a) $ 1,424,484 $ 32,639 $ 172,606 $ 1,629,729 Foreign currency translation adjustments 7,158 47 824 8,029 Balance at September 30, 2024 (a) $ 1,431,642 $ 32,686 $ 173,430 $ 1,637,758 (a) Balance at September 30, 2024 and December 31, 2023 includes an accumulated impairment loss of $6.8 million in Ketjen. As a result, the balance of Ketjen at September 30, 2024 and December 31, 2023 fully consists of goodwill related to the Refining Solutions reporting unit. In July 2024, the Company made the decision to stop construction of Kemerton conversion plant Train 3 and put Kemerton Train 2 into care and maintenance. See Note 9, “Restructuring Charges and Asset Write-offs,” for further details. The Company determined these actions to be a triggering event for a review for impairment of its Energy Storage reporting unit goodwill. As a result, during the third quarter of 2024, the Company tested the goodwill of the Energy Storage reporting unit by comparing its estimated fair value, using a discounted cash flow model, to the related carrying value. The Company’s analysis included significant assumptions such as: revenue growth rate, adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA") margin, and discount rate, which are judgmental and variations in any assumptions could result in materially different calculations of fair value. Based on the analysis, the Energy Storage reporting unit has sufficient headroom, which is defined as the percentage difference between the fair value of a reporting unit and its carrying value, that reasonable differences in the significant assumptions used would not impact the conclusion. Consequently, the Company concluded that the Energy Storage estimated fair value exceeded its carrying value, thus no impairment was recorded in the third quarter of 2024. The Company will test the goodwill of each of its reporting units in the fourth quarter of 2024 as part of its annual goodwill impairment test. The following table summarizes the changes in other intangibles and related accumulated amortization for the nine-month period ended September 30, 2024 (in thousands): Customer Lists and Relationships Trade Names and Trademarks (a) Patents and Technology Other Total Gross Asset Value Balance at December 31, 2023 $ 417,803 $ 13,405 $ 46,287 $ 34,649 $ 512,144 Retirements — (2,309) (14,506) (4,409) (21,224) Foreign currency translation adjustments and other 1,260 (23) 1,047 29 2,313 Balance at September 30, 2024 $ 419,063 $ 11,073 $ 32,828 $ 30,269 $ 493,233 Accumulated Amortization Balance at December 31, 2023 $ (204,481) $ (3,673) $ (26,758) $ (15,374) $ (250,286) Amortization (14,688) — (1,896) (679) (17,263) Retirements — 2,309 14,506 4,409 21,224 Foreign currency translation adjustments and other (946) 40 61 15 (830) Balance at September 30, 2024 $ (220,115) $ (1,324) $ (14,087) $ (11,629) $ (247,155) Net Book Value at December 31, 2023 $ 213,322 $ 9,732 $ 19,529 $ 19,275 $ 261,858 Net Book Value at September 30, 2024 $ 198,948 $ 9,749 $ 18,741 $ 18,640 $ 246,078 (a) Net Book Value includes only indefinite-lived intangible assets.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt: Long-term debt at September 30, 2024 and December 31, 2023 consisted of the following (in thousands): September 30, December 31, 2024 2023 1.125% notes due 2025 $ 419,858 $ 416,501 1.625% notes due 2028 556,650 552,200 3.45% Senior notes due 2029 171,612 171,612 4.65% Senior notes due 2027 650,000 650,000 5.05% Senior notes due 2032 600,000 600,000 5.45% Senior notes due 2044 350,000 350,000 5.65% Senior notes due 2052 450,000 450,000 Commercial paper notes — 620,000 Interest-free loan 300,000 300,000 Variable-rate foreign bank loans 29,713 30,197 Finance lease obligations 112,291 110,245 Other 22,000 22,000 Unamortized discount and debt issuance costs (93,122) (105,992) Total long-term debt 3,569,002 4,166,763 Less amounts due within one year 3,012 625,761 Long-term debt, less current portion $ 3,565,990 $ 3,541,002 During the nine months ended September 30, 2024, we repaid a net amount of $620.0 million of commercial paper notes using the net proceeds received from the issuance of mandatory convertible preferred stock. See Note 8, “Equity,” for additional information. Subsequent Event Given economic conditions, specifically around the market pricing of lithium, and the related anticipated impact on the Company’s future earnings, on October 31, 2024 the Company further amended its revolving, unsecured amended and restated credit agreement dated October 28, 2022, as previously amended on February 9, 2024 (the “2022 Credit Agreement”), which provides for borrowings of up to $1.5 billion and matures on October 28, 2027. Borrowings under the 2022 Credit Agreement bear interest at variable rates based on a benchmark rate depending on the currency in which the loans are denominated, plus an applicable margin which ranges from 0.910% to 1.375%, depending on the Company’s credit rating from Standard & Poor’s Rating Services LLC, Moody’s Investors Services, Inc. and Fitch Ratings, Inc. With respect to loans denominated in U.S. dollars, interest is calculated using the term Secured Overnight Financing Rate (“SOFR”) plus a term SOFR adjustment of 0.10%, plus the applicable margin. The applicable margin on the facility was 1.20% as of September 30, 2024. There were no borrowings outstanding under the 2022 Credit Agreement as of September 30, 2024. Borrowings under the 2022 Credit Agreement are conditioned upon satisfaction of certain customary conditions precedent, including the absence of defaults. The October 2024 amendment was entered into to modify the financial covenants under the 2022 Credit Agreement to avoid a potential covenant violation through June 2026 given the market pricing of lithium. The amended 2022 Credit Agreement subjects the Company to two financial covenants, as well as customary affirmative and negative covenants. The amended first financial covenant requires that the ratio of (a) (i) the Company’s consolidated net funded debt plus a proportionate amount of Windfield’s net funded debt less (ii) the Company’s unrestricted cash and cash equivalents plus a proportionate amount of Windfield’s unrestricted cash and cash equivalents (up to a specified amount) to (b) consolidated Windfield-Adjusted EBITDA (as such terms are defined in the 2022 Credit Agreement) be less than or equal to: (i) 5.50:1.0 as of the end of the third quarter of 2024, (ii) 4.00:1.0 as of the end of the fourth quarter of 2024, (iii) 4.75:1.0 as of the end of the first quarter of 2025, (iv) 5.75:1.0 as of the end of the second quarter of 2025, (v) 5.50:1.0 as of the end of the third quarter of 2025, (vi) 5.00:1.0 as of the end of the fourth quarter of 2025, (vii) 4.75:1.0 as of the end of the first and second quarters of 2026, respectively and (viii) 3.50:1.0 as of the end of the third quarter of 2026 and each fiscal quarter thereafter through the third quarter of 2027. The maximum permitted leverage ratios described above are subject to adjustment in accordance with the terms of the 2022 Credit Agreement upon the consummation of an acquisition after June 30, 2026 if the consideration includes cash proceeds from the issuance of funded debt in excess of $500 million. The amended second financial covenant requires that, beginning as of the end of the fourth quarter of 2024, the ratio of the Company’s consolidated EBITDA to consolidated interest charges (as such terms are defined in the 2022 Credit Agreement) be no less than (i) 1.00:1.0 as of the end of each fiscal quarter through the second quarter of 2025, (ii) 2.00:1.0 as of the end of the third quarter of 2025, (iii) 2.50:1.0 as of the end of the fourth quarter of 2025, and (iv) 3.00:1.0 as of the end of each fiscal quarter thereafter. The 2022 Credit Agreement also contains customary default provisions, including defaults for non-payment, breach of representations and warranties, insolvency, non-performance of covenants and cross-defaults to other material indebtedness. The occurrence of an event of default under the 2022 Credit Agreement could result in all loans and other obligations becoming immediately due and payable and the commitments under the 2022 Credit Agreement being terminated. Following the $2.2 billion issuance of mandatory convertible preferred stock in March 2024 and the amendments to the financial covenants, the Company expects to maintain compliance with the amended financial covenants for the next twelve months. In addition to the amended covenants, the Company has introduced additional cost reduction plans to further reduce operating expenses and capital investments, as discussed in Note 9, “Restructuring Charges and Assets Write-offs.” No assurances can be given that any additional cost reduction strategies undertaken will be sufficient to meet the amended financial covenants. Further, a significant and extended downturn in lithium market prices or demand could impact the Company’s ability to maintain compliance with its amended financial covenants and it could require the Company to seek additional amendments to the 2022 Credit Agreement and/or issue debt or equity securities to fund its activities and maintain financial flexibility. If the Company were unable to obtain such necessary additional amendments, this could lead to an event of default and its lenders could require the Company to repay its outstanding debt. In that situation, the Company may not be able to raise sufficient debt or equity capital, or divest assets, to refinance or repay the lenders.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies: Environmental The following activity was recorded in environmental liabilities for the nine months ended September 30, 2024 (in thousands): Beginning balance at December 31, 2023 $ 34,149 Expenditures (3,911) Accretion of discount 865 Liability releases (2,570) Foreign currency translation adjustments and other 670 Ending balance at September 30, 2024 29,203 Less amounts reported in Accrued expenses 4,253 Amounts reported in Other noncurrent liabilities $ 24,950 Environmental remediation liabilities included discounted liabilities of $25.5 million and $27.4 million at September 30, 2024 and December 31, 2023, respectively, discounted at rates with a weighted-average of 3.6% and 3.7%, respectively, and with the undiscounted amount totaling $52.4 million and $55.4 million at September 30, 2024 and December 31, 2023, 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 represent an additional $46 million before income taxes, in excess of amounts already recorded. 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. 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 $14.9 million and $14.5 million at September 30, 2024 and December 31, 2023, 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 The Company has contracts with certain of its customers which serve as guarantees of 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. The Company is unable to estimate the maximum amount of the potential future liability under performance guarantees. However, the Company accrues for any potential loss for which we believe a future payment is probable and a range of loss can be reasonably estimated. At September 30, 2024, the Company believes its liability under such obligations is immaterial.

Equity

Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Equity	Equity: Common Stock On May 9, 2024, the Company filed to amend the Company’s Amended and Restated Articles of Incorporation (the “Charter”) to increase the number of authorized shares of common stock, $0.01 par value per share, from 150,000,000 to 275,000,000 (the “Charter Amendment”). The Charter Amendment became effective May 10, 2024. On July 16, 2024, the Company’s board of directors declared a cash dividend of $0.405 per share. This dividend was paid on October 1, 2024 to shareholders of record at the close of business as of September 13, 2024. On October 28, 2024, the Company’s board of directors declared a cash dividend of $0.405 per share, which is payable on January 2, 2025 to shareholders of record at the close of business as of December 13, 2024. Mandatory Convertible Preferred Stock On March 8, 2024, the Company issued 46,000,000 depositary shares (“Depositary Shares”), each representing a 1/20th interest in a share of Series A Mandatory Convertible Preferred Stock (“Mandatory Convertible Preferred Stock”). The 2,300,000 shares of Mandatory Convertible Preferred Stock issued had a $1,000 per share liquidation preference. As a result of this transaction, the Company received cash proceeds of approximately $2.2 billion, net of underwriting fees and offering costs. The Company intends to use the proceeds for general corporate purposes, which may include, among other uses, funding capital expenditures, following the repayment of commercial paper with a portion of the proceeds in the first quarter of 2024. Dividends on the Mandatory Convertible Preferred Stock are payable on a cumulative basis when, as and if declared by the Albemarle board of directors, or an authorized committee thereof, at an annual rate of 7.25% on the liquidation preference of $1,000 per share, and may be paid in cash or, subject to certain limitations, in shares of common stock or, subject to certain limitations, any combination of cash and shares of common stock. Dividends that are declared on the Mandatory Convertible Preferred Stock will be payable quarterly to the holders of record on the February 15, May 15, August 15 and November 15 of each year, immediately preceding the relevant dividend payment date, whether or not such holders convert their Depositary Shares, or such Depositary Shares are automatically converted, after a record date and on or prior to the immediately succeeding dividend payment date. Dividends of $17.12 and $18.125 per share of Mandatory Convertible Preferred Stock were paid in June and September 2024, respectively. Subsequent quarterly cash dividends are expected to be $18.125 per share of Mandatory Convertible Preferred Stock. Dividends are expected to be paid on March 1, June 1, September 1 and December 1 of each year ending on, and including, March 1, 2027. The Company may not redeem the shares of the Mandatory Convertible Preferred Stock. However, at its option, the Company may purchase the Mandatory Convertible Preferred Stock from time to time on the open market, by tender offer, exchange offer or otherwise. Unless converted earlier in accordance with its terms, each share of Mandatory Convertible Preferred Stock will automatically convert on the mandatory conversion date, which is expected to be March 1, 2027, into between 7.618 shares and 9.140 shares of common stock, in each case, subject to customary anti-dilution adjustments described in the certificate of designations related to the Mandatory Convertible Preferred Stock (the “Certificate of Designations”). The number of shares of common stock issuable upon conversion will be determined based on the average volume weighted average price per share of common stock over the 20 consecutive trading day period beginning on, and including, the 21st scheduled trading day immediately prior to March 1, 2027. Holders of shares of Mandatory Convertible Preferred Stock have the option to convert all or any portion of their shares of the Mandatory Convertible Preferred Stock at any time. The conversion rate applicable to any early conversion may in certain circumstances be increased to compensate holders of the Mandatory Convertible Preferred Stock for certain unpaid accumulated dividends as described in the Certificate of Designations. If a Fundamental Change, as defined in the Certificate of Designations, occurs on or prior to March 1, 2027, then holders of the Mandatory Convertible Preferred Stock will be entitled to convert all or any portion of their Mandatory Convertible Preferred Stock at the fundamental change conversion rate, as defined in the Certificate of Designations, as for a specified period of time and to also receive an amount to compensate them for certain unpaid accumulated dividends and any remaining future scheduled dividend payments. There were 2,300,000 shares of Mandatory Convertible Preferred Stock issued and outstanding at September 30, 2024. Accumulated Other Comprehensive Loss The components and activity in Accumulated other comprehensive loss (net of deferred income taxes) consisted of the following during the periods indicated below (in thousands): Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Foreign Currency Translation and Other Cash Flow Hedge (a) Total Foreign Currency Translation and Other Cash Flow Hedge(a) Total Balance, beginning of period $ (633,583) $ (3,968) $ (637,551) $ (522,297) $ 4,351 $ (517,946) Other comprehensive income (loss) before reclassifications 158,708 (6,849) 151,859 (143,974) (39,021) (182,995) Amounts reclassified from accumulated other comprehensive loss 16 16,064 16,080 17 (67) (50) Other comprehensive income (loss), net of tax 158,724 9,215 167,939 (143,957) (39,088) (183,045) Other comprehensive (income) loss attributable to noncontrolling interests (158) — (158) 19 — 19 Balance, end of period $ (475,017) $ 5,247 $ (469,770) $ (666,235) $ (34,737) $ (700,972) Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Foreign Currency Translation and Other Cash Flow Hedge (a) Total Foreign Currency Translation and Other Cash Flow Hedge (a) Total Balance, beginning of period $ (536,601) $ 8,075 $ (528,526) $ (562,886) $ 2,224 $ (560,662) Other comprehensive income (loss) before reclassifications 61,704 (24,131) 37,573 (103,426) (36,894) (140,320) Amounts reclassified from accumulated other comprehensive loss 49 21,303 21,352 50 (67) (17) Other comprehensive income (loss), net of tax 61,753 (2,828) 58,925 (103,376) (36,961) (140,337) Other comprehensive (income) loss attributable to noncontrolling interests (169) — (169) 27 — 27 Balance, end of period $ (475,017) $ 5,247 $ (469,770) $ (666,235) $ (34,737) $ (700,972) (a) We previously entered into a foreign currency forward contract, which was designated and accounted for as a cash flow hedge under ASC 815, Derivatives and Hedging . During the nine-month period ended September 30, 2024, the Company de-designated the remaining foreign currency forward contracts accounted for as cash flow hedges. The related loss was reclassified to Other (expenses) income, net during the nine-month period ended September 30, 2024. The balance of the settled hedged foreign currency forward contracts will be reclassified to earnings over the life of the related assets. See Note 9, “Restructuring Charges and Asset Write-offs,” and Note 15, “Fair Value of Financial Instruments,” for additional information. The amount of income tax (expense) benefit allocated to each component of Other comprehensive income (loss) for the three-month and nine-month periods ended September 30, 2024 and 2023 is provided in the following tables (in thousands): Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Foreign Currency Translation and Other Cash Flow Hedge Total Foreign Currency Translation and Other Cash Flow Hedge Total Other comprehensive income (loss), before tax $ 158,727 $ 14,376 $ 173,103 $ (143,954) $ (39,088) $ (183,042) Income tax expense (3) (5,161) (5,164) (3) — (3) Other comprehensive income (loss), net of tax $ 158,724 $ 9,215 $ 167,939 $ (143,957) $ (39,088) $ (183,045) Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Foreign Currency Translation and Other Cash Flow Hedge Total Foreign Currency Translation and Other Cash Flow Hedge Total Other comprehensive income (loss), before tax $ 61,763 $ (2,828) $ 58,935 $ (103,607) $ (36,961) $ (140,568) Income tax (expense) benefit (10) — (10) 231 — 231 Other comprehensive income (loss), net of tax $ 61,753 $ (2,828) $ 58,925 $ (103,376) $ (36,961) $ (140,337)

Restructuring Charges and Asset

Restructuring Charges and Asset Write-offs	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring Charges and Asset Write-offs	Restructuring Charges and Asset Write-offs: Second Half 2024 Restructuring In July 2024, the Company announced a comprehensive review of its cost and operating structure to proactively respond to ongoing industry headwinds, particularly in the lithium value chain, and to maintain a competitive position. As part of this review, the Company made the decision to stop construction of Kemerton conversion plant Train 3 in Western Australia and to put Kemerton Train 2 into care and maintenance. As a result, the Company recorded charges in Cost of goods sold and Restructuring charges and asset write-offs for the three-month and nine-month periods ended September 30, 2024 of $16.5 million and $826.3 million, respectively, consisting of the write-off of the carrying value of the Kemerton Train 3 assets less any salvage value, contract cancellation costs, severance, decommissioning, demolition and other associated restructuring costs for both Kemerton Trains 2 and 3. Kemerton Train 1 will continue to operate and activity around it is currently focused on commercialization efforts. In addition, the Company recorded a loss of $16.2 million in Other (expenses) income, net for the three-month and nine-month periods ended September 30, 2024 related to the reclassification of the related dedesignated cash flow hedge from Accumulated other comprehensive loss. The Company’s actions regarding Kemerton are part of a broader effort focused on preserving its world-class resource advantages, optimizing its global conversion network, improving the Company’s cost competitiveness and efficiency by lowering operating costs, reducing capital intensity and enhancing the Company’s financial flexibility. As part of this effort, on October 7, 2024, the Company announced a new operating structure effective November 1, 2024. The new operating structure will transition to a fully integrated functional model (excluding Ketjen) from a global business unit model. In connection with changes to be implemented under the new operating structure and the actions taken at Kemerton, the Company expects to record additional charges related to severance and employee benefits in the range of $30 million to $50 million and other restructuring costs in the range of $25 million to $30 million in the fourth quarter of 2024, with the actions to be substantially completed in the first half of 2025. First Half 2024 Restructuring In January 2024, the Company announced measures to unlock near-term cash flow and generate long-term financial flexibility by re-phasing organic growth investments and optimizing its cost structure. As part of these measures, during the second quarter of 2024, the Company indefinitely suspended construction of Kemerton Train 4, as well as deferred spending and investments with respect to certain other capital projects. The Company wrote-off the book value of assets related to these capital projects, which are no longer part of the Company’s modified capital plan, as it determined that these assets will not provide future value or will require significant re-engineering if the related projects are restarted, as well as recorded losses for associated contract cancellation costs. In addition, the Company recorded severance costs for employees in Corporate and each of the businesses as part of these announced measures. These actions resulted in charges of $1.8 million and $330.2 million recorded in Restructuring charges and asset write-offs for the three-month and nine-month periods ended September 30, 2024, respectively, and a loss of $5.4 million recorded in Other (expenses) income, net for the nine-month period ended September 30, 2024 related to the reclassification of the related dedesignated cash flow hedge from Accumulated other comprehensive loss. No further costs associated with the First Half 2024 Restructuring are expected to be recorded as this restructuring plan was completed in the first half of 2024. 2023 Restructuring During the three-month and nine-month periods ended September 30, 2023, $1.8 million and $9.2 million of separation and other severance costs to employees in Corporate and the Ketjen business were recorded in Restructuring charges and asset write-offs, respectively. Detail of Restructuring Charges and Reserves The following table provides details of our restructuring related charges for the three-month and nine-month periods ended September 30, 2024, which represent the cumulative amounts incurred to date for these plans (in thousands): Three Months Ended September 30, 2024 Asset Write-offs (a) Severance and Employee Benefits (b) Contract Cancellation Costs (c) Other (d) Total First Half 2024 Restructuring (e) $ 4,562 $ 504 $ (3,248) $ — $ 1,818 Second Half 2024 Restructuring (f) 785,005 7,988 42,456 23,597 859,046 $ 789,567 $ 8,492 $ 39,208 $ 23,597 $ 860,864 Nine Months Ended September 30, 2024 Asset Write-offs (a) Severance and Employee Benefits (b) Contract Cancellation Costs (c) Other (d) Total First Half 2024 Restructuring (e) $ 280,596 $ 19,365 $ 30,233 $ 5,374 $ 335,568 Second Half 2024 Restructuring (f) 785,005 7,988 42,456 23,597 859,046 $ 1,065,601 $ 27,353 $ 72,689 $ 28,971 $ 1,194,614 (a) Asset write-offs include $16.5 million recorded in Cost of goods sold, primarily related to work in process inventory with no future value as a result of the decomissioning of Kemerton Train 2 that was placed into care and maintenance. The remainder of the asset write-offs primarily relate to property, plant and equipment of the in-construction Kemerton Trains 3 and 4, and Kemerton Train 2 that was placed into care and maintenance. All asset write-off charges not related to inventories were recorded in Restructuring charges and asset write-offs. (b) Severance and employee benefit charges for global employees terminated during the various restructuring programs were recorded in Restructuring charges and asset write-offs. (c) Includes cancellation fees for contractors and required payments under take or pay contracts. All asset write-off charges were recorded in Restructuring charges and asset write-offs. (d) Other includes costs to put Kemerton Train 2 into care and maintenance and similar restructuring costs, and are recorded in Restructuring charges and asset write-offs. In addition, Other includes the reclassification of the related dedesignated cash flow hedge from Accumulated other comprehensive loss. $16.2 million recorded in Other (expenses) income net, for the three-month and nine-month periods ended September 30, 2024 related to the Second Half 2024 Restructuring and $5.4 million recorded in Other (expenses) income, net for the nine-month period ended September 30, 2024 related to the First Half 2024 Restructuring. (e) Severance and employee benefits related to Corporate and all segments. All other restructuring costs were primarily recorded in the Energy Storage segment. (f) Recorded in the Energy Storage segment. Restructuring charges related to severance and employee benefits of $1.8 million and $9.2 million for the three-month and nine-month periods ended September 30, 2023, respectively, were recorded in Restructuring charges and asset write-offs and are reported in Corporate and the Ketjen segment. As of December 31, 2023, there was a liability of $3.3 million related to these severance costs, which was paid during the nine-month period ended September 30, 2024. As a result of the actions taken at Kemerton Trains 2 and 3 during the third quarter of 2024, the Company elected to evaluate the recoverability of its property, plant and equipment within the corresponding asset group as of August 31, 2024, and concluded that the carrying amount of the associated asset group is recoverable as the undiscounted cash flows of the asset group significantly exceed its carrying value. Accordingly, no impairment loss was recognized during the nine-month period ended September 30, 2024. The following tables summarize the changes in restructuring liabilities for the nine-month period ended September 30, 2024 (in thousands): First Half 2024 Restructuring Asset Write-offs Severance and Employee Benefits Contract Cancellation Costs Other Total Beginning balance at December 31, 2023 $ — $ — $ — $ — $ — 2024 charges 280,596 19,365 33,481 5,374 338,816 Change in estimate — — (3,248) — (3,248) Cash payments — (18,883) (22,120) — (41,003) Asset writedowns/hedge dedesignation (280,596) — — (5,374) (285,970) Foreign currency translation adjustments — 27 — — 27 Ending balance at September 30, 2024 (a)(b) $ — $ 509 $ 8,113 $ — $ 8,622 Second Half 2024 Restructuring Asset Write-offs Severance and Employee Benefits Contract Cancellation Costs Other Total Beginning balance at December 31, 2023 $ — $ — $ — $ — $ — 2024 charges 785,005 7,988 42,456 23,597 859,046 Cash payments — (5,369) (14,391) — (19,760) Asset writedowns/hedge dedesignation (785,005) — — (16,170) (801,175) Ending balance at September 30, 2024 (a)(b) $ — $ 2,619 $ 28,065 $ 7,427 $ 38,111 (a) Approximately $34.3 million recorded in Accrued expenses and $12.4 million recorded in Other noncurrent liabilities on the consolidated balance sheets as of September 30, 2024. (b) The majority of the remaining balances are expected to be paid in the next twelve months. Certain take or pay liabilities will be paid in line with the terms of the original contract through 2027.

Pension Plans and Other Postret

Pension Plans and Other Postretirement Benefits	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Pension Plans and Other Postretirement Benefits	Pension Plans and Other Postretirement Benefits: The components of pension and postretirement benefits cost (credit) for the three-month and nine-month periods ended September 30, 2024 and 2023 were as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Pension Benefits Cost (Credit): Service cost $ 1,576 $ 1,340 $ 4,705 $ 3,995 Interest cost 8,163 8,587 24,448 25,687 Expected return on assets (8,854) (8,434) (26,522) (25,258) Amortization of prior service benefit 20 20 59 61 Total net pension benefits cost $ 905 $ 1,513 $ 2,690 $ 4,485 Postretirement Benefits Cost: Service cost $ 12 $ 12 $ 35 $ 36 Interest cost 360 467 1,081 1,404 Total net postretirement benefits cost $ 372 $ 479 $ 1,116 $ 1,440 Total net pension and postretirement benefits cost $ 1,277 $ 1,992 $ 3,806 $ 5,925 All components of net benefit cost, other than service cost, are included in Other (expenses) income, net on the consolidated statements of (loss) income. During the three-month and nine-month periods ended September 30, 2024, the Company made contributions of $3.9 million and $13.3 million, respectively, to its qualified and nonqualified pension plans and the U.S. postretirement benefit plan. During the three-month and nine-month periods ended September 30, 2023, the Company made contributions of $3.6 million and $12.2 million, respectively, to its qualified and nonqualified pension plans and the U.S. postretirement benefit plan.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes: The effective income tax rates for the three-month and nine-month periods ended September 30, 2024 were (9.4)% and (4.2)%, respectively, compared to 5.4% and 26.7% for the three-month and nine-month periods ended September 30, 2023, respectively. The three-month and nine-month periods ended September 30, 2024 included the impact of the 15% global minimum tax under the Pillar Two Global Anti-Base Erosion Rules (“Pillar Two”) developed by the Organisation for Economic Co-operation and Development (“OECD”) as part of global tax framework. The Company’s effective income tax rate fluctuates based on, among other factors, the amount and location of income. The lower effective tax rate in the three-month and nine-month periods ended September 30, 2024, compared to the three-month and nine-month periods ended September 30, 2023, was due to lower 2024 earnings in various jurisdictions. The difference between the U.S. federal statutory income tax rate of 21% and the Company’s effective income tax rate for the three-month and nine-month periods ended September 30, 2024 was impacted by a variety of factors, primarily the location in which income was earned, including the impact of the OECD Pillar Two minimum tax, the valuation allowance for losses in our consolidated Australian entities and certain entities in China, and an uncertain tax position recorded in Chile. The difference between the U.S. federal statutory income tax rate of 21% and the Company’s effective income tax rate for the three-month and nine-month periods ended September 30, 2023 was impacted by a variety of factors, primarily the location in which income was earned, foreign-derived intangible income and an uncertain tax position recorded in Chile. During the nine-month period ended September 30, 2023, the effective tax rate was also impacted by a non-deductible accrual for the agreements in principle to resolve a previously disclosed legal matter with the U.S. Department of Justice (“DOJ”), the SEC, and the Dutch Public Prosecutor (“DPP”).

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share: Basic and diluted (loss) earnings per share for the three-month and nine-month periods ended September 30, 2024 and 2023 are calculated as follows (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Basic (loss) earnings per share Numerator: Net (loss) income attributable to Albemarle Corporation $ (1,068,992) $ 302,533 $ (1,254,742) $ 2,191,156 Mandatory convertible preferred stock dividends (41,687) — (94,959) — Net (loss) income attributable to Albemarle Corporation common shareholders $ (1,110,679) $ 302,533 $ (1,349,701) $ 2,191,156 Denominator: Weighted-average common shares for basic (loss) earnings per share 117,535 117,349 117,505 117,304 Basic (loss) earnings per share $ (9.45) $ 2.58 $ (11.49) $ 18.68 Diluted (loss) earnings per share Numerator: Net (loss) income attributable to Albemarle Corporation $ (1,068,992) $ 302,533 $ (1,254,742) $ 2,191,156 Mandatory convertible preferred stock dividends (41,687) — (94,959) — Net (loss) income attributable to Albemarle Corporation common shareholders $ (1,110,679) $ 302,533 $ (1,349,701) $ 2,191,156 Denominator: Weighted-average common shares for basic (loss) earnings per share 117,535 117,349 117,505 117,304 Incremental shares under stock compensation plans — 434 — 493 Weighted-average common shares for diluted (loss) earnings per share 117,535 117,783 117,505 117,797 Diluted (loss) earnings per share $ (9.45) $ 2.57 $ (11.49) $ 18.60 The following table summarizes the number of shares, calculated on a weighted average basis, not included in the computation of diluted earnings per share because their effect would have been anti-dilutive (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Shares assuming the conversion of the mandatory convertible preferred stock 21,022 — 15,568 — Shares under the stock compensation plans 1,138 104 1,058 94

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	Leases: We lease certain office space, buildings, transportation and equipment in various countries. The initial lease terms generally range from 1 to 30 years for real estate leases, and from 2 to 15 years for non-real estate leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and we recognize lease expense for these leases on a straight-line basis over the lease term. Many leases include options to terminate or renew, with renewal terms that can extend the lease term from 1 to 50 years or more. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table provides details of our lease contracts for the three-month and nine-month periods ended September 30, 2024 and 2023 (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease cost $ 9,184 $ 11,307 $ 28,302 $ 37,369 Finance lease cost: Amortization of right of use assets 1,653 1,686 5,318 4,466 Interest on lease liabilities 1,568 1,616 4,769 4,310 Total finance lease cost 3,221 3,302 10,087 8,776 Short-term lease cost 4,639 4,826 19,443 14,746 Variable lease cost 9,618 7,560 26,630 15,835 Total lease cost $ 26,662 $ 26,995 $ 84,462 $ 76,726 Supplemental cash flow information related to our lease contracts for the nine-month periods ended September 30, 2024 and 2023 is as follows (in thousands): Nine Months Ended 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 26,760 $ 35,364 Operating cash flows from finance leases 8,176 3,593 Financing cash flows from finance leases 3,733 1,627 Right-of-use assets obtained in exchange for lease obligations: Operating leases 16,595 43,907 Finance leases 6,200 46,773 Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at September 30, 2024 and December 31, 2023 is as follows (in thousands, except as noted): September 30, 2024 December 31, 2023 Operating leases: Other assets $ 122,746 $ 137,405 Accrued expenses 29,966 30,583 Other noncurrent liabilities 107,808 113,681 Total operating lease liabilities 137,774 144,264 Finance leases: Net property, plant and equipment 113,350 112,438 Current portion of long-term debt (a) 5,043 9,702 Long-term debt 109,279 104,484 Total finance lease liabilities 114,322 114,186 Weighted average remaining lease term (in years): Operating leases 12.4 12.2 Finance leases 20.3 20.7 Weighted average discount rate (%): Operating leases 4.60 % 4.74 % Finance leases 5.61 % 4.71 % (a) Balance includes accrued interest of finance lease recorded in Accrued expenses. Maturities of lease liabilities at September 30, 2024 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 8,291 $ 3,208 2025 32,404 10,830 2026 23,976 10,162 2027 18,546 10,162 2028 13,643 10,162 Thereafter 110,634 141,523 Total lease payments 207,494 186,047 Less imputed interest 69,720 71,725 Total $ 137,774 $ 114,322
Leases	Leases: We lease certain office space, buildings, transportation and equipment in various countries. The initial lease terms generally range from 1 to 30 years for real estate leases, and from 2 to 15 years for non-real estate leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and we recognize lease expense for these leases on a straight-line basis over the lease term. Many leases include options to terminate or renew, with renewal terms that can extend the lease term from 1 to 50 years or more. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table provides details of our lease contracts for the three-month and nine-month periods ended September 30, 2024 and 2023 (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease cost $ 9,184 $ 11,307 $ 28,302 $ 37,369 Finance lease cost: Amortization of right of use assets 1,653 1,686 5,318 4,466 Interest on lease liabilities 1,568 1,616 4,769 4,310 Total finance lease cost 3,221 3,302 10,087 8,776 Short-term lease cost 4,639 4,826 19,443 14,746 Variable lease cost 9,618 7,560 26,630 15,835 Total lease cost $ 26,662 $ 26,995 $ 84,462 $ 76,726 Supplemental cash flow information related to our lease contracts for the nine-month periods ended September 30, 2024 and 2023 is as follows (in thousands): Nine Months Ended 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 26,760 $ 35,364 Operating cash flows from finance leases 8,176 3,593 Financing cash flows from finance leases 3,733 1,627 Right-of-use assets obtained in exchange for lease obligations: Operating leases 16,595 43,907 Finance leases 6,200 46,773 Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at September 30, 2024 and December 31, 2023 is as follows (in thousands, except as noted): September 30, 2024 December 31, 2023 Operating leases: Other assets $ 122,746 $ 137,405 Accrued expenses 29,966 30,583 Other noncurrent liabilities 107,808 113,681 Total operating lease liabilities 137,774 144,264 Finance leases: Net property, plant and equipment 113,350 112,438 Current portion of long-term debt (a) 5,043 9,702 Long-term debt 109,279 104,484 Total finance lease liabilities 114,322 114,186 Weighted average remaining lease term (in years): Operating leases 12.4 12.2 Finance leases 20.3 20.7 Weighted average discount rate (%): Operating leases 4.60 % 4.74 % Finance leases 5.61 % 4.71 % (a) Balance includes accrued interest of finance lease recorded in Accrued expenses. Maturities of lease liabilities at September 30, 2024 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 8,291 $ 3,208 2025 32,404 10,830 2026 23,976 10,162 2027 18,546 10,162 2028 13,643 10,162 Thereafter 110,634 141,523 Total lease payments 207,494 186,047 Less imputed interest 69,720 71,725 Total $ 137,774 $ 114,322

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information: The Company’s three reportable segments include: (1) Energy Storage; (2) Specialties; and (3) Ketjen. The segments are organized based on their similar markets, customers, economic characteristics and production processes. The organizational structure 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. 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 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. Effective January 1, 2024, the Company changed its definition of adjusted EBITDA for financial accounting purposes. The updated definition includes Albemarle’s share of the pre-tax earnings of the Windfield joint venture, whereas the prior definition included Albemarle’s share of Windfield earnings net of tax. This calculation is consistent with the definition of adjusted EBITDA used in the leverage financial covenant calculation in the amended 2022 Credit Agreement, which is a material agreement for the Company and aligns the information presented to various stakeholders. This presentation more closely represents the materiality and financial contribution of the strategic investment in Windfield to the Company’s earnings, and more closely represents a measure of EBITDA. The Company’s updated definition of adjusted EBITDA is earnings before interest and financing expenses, income tax expenses, the proportionate share of Windfield income tax expense, 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 additional useful measurements to review the Company’s operations, provides transparency to investors and enables period-to-period comparability of financial performance. Adjusted EBITDA for the prior period has been recast to conform to the current year presentation. Segment information for the three-month and nine-month periods ended September 30, 2024 and 2023 were as follows (in thousands). Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net sales: Energy Storage $ 767,291 $ 1,697,163 $ 2,398,299 $ 5,403,910 Specialties 342,376 352,722 993,041 1,142,802 Ketjen 245,025 260,711 754,473 714,326 Total net sales $ 1,354,692 $ 2,310,596 $ 4,145,813 $ 7,261,038 Adjusted EBITDA: Energy Storage $ 142,887 $ 604,948 $ 623,862 $ 3,337,720 Specialties 56,273 46,307 155,629 268,665 Ketjen 35,473 15,159 95,288 72,584 Total segment adjusted EBITDA $ 234,633 $ 666,414 $ 874,779 $ 3,678,969 Depreciation and amortization: Energy Storage $ 124,346 $ 67,323 $ 312,053 $ 176,025 Specialties 24,474 22,699 70,081 63,890 Ketjen 12,988 13,259 38,282 39,486 Total segment depreciation and amortization 161,808 103,281 420,416 279,401 Corporate 1,694 2,164 5,116 6,400 Total depreciation and amortization $ 163,502 $ 105,445 $ 425,532 $ 285,801 See below for a reconciliation of total segment adjusted EBITDA to the Company’s consolidated Net (loss) income attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with U.S. GAAP (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Total segment adjusted EBITDA $ 234,633 $ 666,414 $ 874,779 $ 3,678,969 Corporate expenses, net (23,135) (13,442) 14,315 1,949 Depreciation and amortization (163,502) (105,445) (425,532) (285,801) Interest and financing expenses (47,760) (29,332) (120,916) (81,686) Income tax (expense) benefit (110,853) 8,551 (76,472) (311,399) Proportionate share of Windfield income tax expense (a) (99,523) (199,685) (292,992) (599,646) Acquisition and integration related costs (b) (439) (10,043) (3,927) (21,653) Restructuring charges and asset write-offs (c) (860,864) (1,757) (1,194,614) (9,196) Non-operating pension and OPEB items 331 (620) 993 (1,833) (Loss) gain in fair value of public equity securities (d) (4,983) (26,445) (65,922) 34,401 Legal accrual (e) — — — (218,510) Other (f) 7,103 14,337 35,546 5,561 Net (loss) income attributable to Albemarle Corporation $ (1,068,992) $ 302,533 $ (1,254,742) $ 2,191,156 (a) Albemarle’s 49% ownership interest in the reported income tax expense of the Windfield joint venture. (b) Costs related to the acquisition, integration and potential divestitures for various significant projects, recorded in SG&A. (c) See Note 9, “Restructuring Charges and Asset Write-offs,” for further details. (d) Loss of $5.0 million and $32.2 million recorded in Other (expenses) income, net for the three and nine months ended September 30, 2024, respectively, resulting from the net change in fair value of investments in public equity securities and a loss of $33.7 million recorded in Other (expenses) income, net for the nine months ended September 30, 2024 resulting from the sale of investments in public equity securities. (Loss) gain of ($26.4) million and $34.4 million recorded in Other (expenses) income, net for the three and nine months ended September 30, 2023, respectively, resulting from the net change in fair value of investments in public equity securities. (e) Accrual recorded in SG&A representing for the agreements in principle to resolve a previously disclosed legal matter with the DOJ and SEC. This matter was settled in the third quarter of 2023. (f) Included amounts for the three months ended September 30, 2024 recorded in: • SG&A - $0.1 million of expenses related to certain historical legal matters. • Other (expenses) income, net - $9.2 million of income from PIK dividends of preferred equity in a Grace subsidiary, partially offset by a $2.0 million loss resulting from the adjustment of indemnification related to a previously disposed business. Included amounts for the three months ended September 30, 2023 recorded in: • SG&A - $0.7 million of facility closure expenses related to offices in Germany and $0.3 million of a loss from the sale of legacy properties not part of our operations. • Other (expenses) income, net - $8.2 million gain in the fair value of preferred equity of a Grace subsidiary and a $7.2 million gain resulting from insurance proceeds of a prior legal matter. Included amounts for the nine months ended September 30, 2024 recorded in: • Cost of goods sold - $1.4 million of expenses related to non-routine labor and compensation related costs that are outside normal compensation arrangements. • SG&A - $5.3 million of expenses related to certain historical legal and environmental matters. • Other (expenses) income, net - $26.8 million of income from PIK dividends of preferred equity in a Grace subsidiary, a $17.3 million gain primarily from the sale of assets at a site not part of our operations, a $0.6 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations and a $0.4 million net gain primarily resulting from the adjustment of indemnification related to previously disposed businesses, partially offset by $2.9 million of charges for asset retirement obligations at a site not part of our operations. Included amounts for the nine months ended September 30, 2023 recorded in: • SG&A - $2.1 million of facility closure expenses related to offices in Germany, $1.9 million of charges primarily for environmental reserves at sites not part of our operations and $1.0 million primarily related to shortfall contributions for a multiemployer plan financial improvement plan. • Other (expenses) income, net - $10.9 million gain in the fair value of preferred equity of a Grace subsidiary and a $7.2 million gain resulting from insurance proceeds of a prior legal matter, partially offset by $3.9 million of a loss resulting from the adjustment of indemnification related to previously disposed businesses and $3.6 million of charges for asset retirement obligations at a site not part of our operations.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments: In assessing the fair value of financial instruments, we use methods and assumptions that are based on market conditions and other risk factors existing at the time of assessment. Fair value information for our financial instruments is as follows: Long-Term Debt—the fair values of our notes are estimated using Level 1 inputs and account for the difference between the recorded amount and fair value of our long-term debt. The carrying value of our remaining long-term debt reported in the accompanying consolidated balance sheets approximates fair value as substantially all of such debt bears interest based on prevailing variable market rates currently available in the countries in which we have borrowings. September 30, 2024 December 31, 2023 Recorded Fair Value Recorded Fair Value (In thousands) Long-term debt $ 3,586,452 $ 3,472,443 $ 4,186,532 $ 4,021,693 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 Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging . As a result of the actions taken at Kemerton Trains 3 and 4 during 2024, the Company dedesignated the remaining hedged foreign currency forward contracts. The Company recorded a loss in Other (expenses) income, net of $16.2 million and $21.6 million during the three- and nine-month periods ended September 30, 2024 from the reclassification of the hedged balance from Accumulated other comprehensive loss. The balance of the settled hedged foreign currency forward contracts associated with the construction of Kemerton Trains 1 and 2 assets placed into service will be reclassified to earnings over the life of the related assets. We had outstanding designated foreign currency forward contracts with notional values totaling the equivalent of $994.5 million at December 31, 2023. In connection with our risk management strategies, we also enter into other derivative financial instruments that have not been designated as hedging instruments under ASC 815, Derivatives and Hedging. These derivative financial instruments are used to manage risk and are not used for trading or other speculative purposes. At September 30, 2024 and December 31, 2023, we had outstanding non-designated derivative financial instruments with notional values totaling $7.0 billion and $7.1 billion, respectively. The non-designated derivative financial instruments are primarily comprised of foreign currency forward contracts that attempt to minimize the financial impact of changes in foreign currency exchange rates. The fair values of our non-designated foreign currency forward contracts are estimated based on current settlement values. At September 30, 2024, these foreign currency forward contracts hedge our exposure to various currencies including the Chinese Renminbi, Euro, Australian Dollar and Chilean Peso. The following table summarizes the fair value of our derivative financial instruments included in the consolidated balance sheets as of September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 December 31, 2023 Assets Liabilities Assets Liabilities Designated as hedging instruments Other current assets $ — $ — $ 3,489 $ — Other assets — — 11,704 — Accrued expenses — — — 446 Total designated as hedging instruments — — 15,193 446 Not designated as hedging instruments Other current assets 237 — 2,636 — Accrued expenses — 8,892 — 5,306 Other noncurrent liabilities — 6,535 — — Total not designated as hedging instruments 237 15,427 2,636 5,306 Total $ 237 $ 15,427 $ 17,829 $ 5,752 The following table summarizes the net (losses) gains recognized for our derivative financial instruments during the three-month and nine-month periods ended September 30, 2024 and 2023 (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Designated as hedging instruments Loss recognized in Other comprehensive (loss) income $ (6,849) $ (39,021) $ (24,131) $ (36,894) (Loss) income recognized in Other (expenses) income, net $ (16,064) $ 67 $ (21,303) $ 67 Not designated as hedging instruments (Loss) income recognized in Other (expenses) income, net (a) $ (20,534) $ (59,241) $ (7,559) $ 184,166 (a) Fluctuations in the value of our foreign currency forward contracts not designated as hedging instruments are generally expected to be offset by changes in the value of the underlying exposures being hedged, which are also reported in Other (expenses) income, net. In addition, for the nine-month periods ended September 30, 2024 and 2023, we recorded net cash receipts of $5.5 million and $192.8 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	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement: Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The inputs used to measure fair value are classified into the following hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability Level 3 Unobservable inputs for the asset or liability We endeavor to utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following tables set forth our financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 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) $ 304,507 $ — $ — $ 304,507 Investments under executive deferred compensation plan (b) $ 35,367 $ 35,367 $ — $ — Public equity securities (c) $ 22,747 $ 22,747 $ — $ — Private equity securities measured at net asset value (d)(e) $ 4,478 $ — $ — $ — Derivative financial instruments (f) $ 237 $ — $ 237 $ — Liabilities: Obligations under executive deferred compensation plan (b) $ 35,367 $ 35,367 $ — $ — Derivative financial instruments (f) $ 15,427 $ — $ 15,427 $ — December 31, 2023 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) $ 289,307 $ — $ — $ 289,307 Investments under executive deferred compensation plan (b) $ 33,564 $ 33,564 $ — $ — Public equity securities (c) $ 168,928 $ 168,928 $ — $ — Private equity securities measured at net asset value (d)(e) $ 4,536 $ — $ — $ — Derivative financial instruments (f) $ 17,829 $ — $ 17,829 $ — Liabilities: Obligations under executive deferred compensation plan (b) $ 33,564 $ 33,564 $ — $ — Derivative financial instruments (f) $ 5,752 $ — $ 5,752 $ — (a) Preferred equity of a Grace subsidiary acquired as a portion of the proceeds of the FCS sale on June 1, 2021. 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 (loss) income) and cash and cash equivalents. As such, these assets and obligations are classified within Level 1. (c) Holdings in equity securities of public companies reported in Investments in the consolidated balance sheets. The fair value is measured using publicly available share prices of the investments, and as a result these balances are classified within Level 1. Any changes are reported in Other (expenses) income, net in our consolidated statements of (loss) income. See Note 4, “Investments,” for further details. (d) Primarily consists of private equity securities reported in Investments in the consolidated balance sheets. The changes in fair value are reported in Other (expenses) income, net in our consolidated statements of (loss) income. (e) 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. (f) The derivative financial instruments are primarily comprised of foreign currency forward contracts. 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 15, “Fair Value of Financial Instruments,” for further details about our foreign currency forward contracts. The following table sets 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, 2023 $ 289,307 PIK dividends 26,827 Cash received for tax liability (11,627) Ending balance at September 30, 2024 $ 304,507

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions: Our consolidated statements of (loss) income include sales to and purchases from unconsolidated affiliates in the ordinary course of business as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Sales to unconsolidated affiliates $ 11,618 $ 4,070 $ 13,803 $ 14,843 Purchases from unconsolidated affiliates (a) $ 187,117 $ 884,886 $ 505,570 $ 3,072,374 (a) Purchases from unconsolidated affiliates primarily relate to spodumene purchased from the Company’s Windfield joint venture. The decrease from prior year primarily related to the lower lithium market prices in recent months. Our consolidated balance sheets include accounts receivable due from and payable to unconsolidated affiliates in the ordinary course of business as follows (in thousands): September 30, 2024 December 31, 2023 Receivables from unconsolidated affiliates $ 11,249 $ 15,992 Payables to unconsolidated affiliates (a) $ 152,093 $ 550,186 (a) Payables to unconsolidated affiliates primarily relate to spodumene purchased from the Company’s Windfield joint venture under normal payment terms.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information: Supplemental information related to the condensed consolidated statements of cash flows is as follows (in thousands): Nine Months Ended 2024 2023 Supplemental non-cash disclosure related to investing and financing activities: Capital expenditures included in Accounts payable $ 297,222 $ 434,882 Common stock issued for annual incentive bonus plan (a) 11,545 — (a) During the nine-month period ended September 30, 2024, the Company issued 95,003 shares of common stock to certain employees in lieu of cash as payment of a portion of their 2023 annual incentive bonus plan. Other, net within Cash flows from operating activities on the condensed consolidated statements of cash flows for the nine-month periods ended September 30, 2024 and 2023 included $82.7 million and $64.4 million, respectively, representing the reclassification of the current portion of the one-time transition tax resulting from the enactment of the U.S. Tax Cuts and Jobs Act from Other noncurrent liabilities to Income taxes payable within current liabilities.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Sep. 30, 2024
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 was originally effective March 12, 2020 through December 31, 2022. However, in December 2022, the FASB issued an update to defer the sunset date of this guidance to December 31, 2024. The Company currently does not expect this guidance to have a material impact on its consolidated financial statements. In August 2023, the FASB issued guidance which will require a joint venture to recognize and initially measure its assets, including goodwill, and liabilities using a new basis of accounting upon formation. Initial measurement of a joint venture’s total net assets will be equal to the fair value of one hundred percent of the joint venture’s equity. In addition, a joint venture will be permitted to apply the measurement period guidance of ASC 805-10 if the initial accounting for the joint venture formation is incomplete by the end of the reporting period in which the formation occurs. This guidance is effective prospectively for all joint venture formations with a formation date on or after January 1, 2025. The Company currently does not expect this guidance to have a material impact on its consolidated financial statements. In November 2023, the FASB issued guidance to update qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and the amendments should be applied retrospectively. The Company currently does not expect this guidance to have a material impact on its consolidated financial statement disclosures. In December 2023, the FASB issued guidance to require qualitative and quantitative updates to the rate reconciliation and income taxes paid disclosures, among others, in order to enhance the transparency of income tax disclosures, including consistent categories and greater disaggregation of information in the rate reconciliation and disaggregation by jurisdiction of income taxes paid. This guidance is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments should be applied prospectively; however, retrospective application is also permitted. The Company is currently evaluating the impact this guidance will have on its financial statement disclosures. In November 2024, the FASB issued guidance to require tabular disclosures disaggregating certain types of expenses presented on the income statement within continuing operations, as well as disclosures about selling expenses. This guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted, and the amendments should be applied prospectively; however, retrospective application is also permitted. The Company is currently evaluating the impact this guidance will have on its financial statement disclosures.

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2024
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 was originally effective March 12, 2020 through December 31, 2022. However, in December 2022, the FASB issued an update to defer the sunset date of this guidance to December 31, 2024. The Company currently does not expect this guidance to have a material impact on its consolidated financial statements. In August 2023, the FASB issued guidance which will require a joint venture to recognize and initially measure its assets, including goodwill, and liabilities using a new basis of accounting upon formation. Initial measurement of a joint venture’s total net assets will be equal to the fair value of one hundred percent of the joint venture’s equity. In addition, a joint venture will be permitted to apply the measurement period guidance of ASC 805-10 if the initial accounting for the joint venture formation is incomplete by the end of the reporting period in which the formation occurs. This guidance is effective prospectively for all joint venture formations with a formation date on or after January 1, 2025. The Company currently does not expect this guidance to have a material impact on its consolidated financial statements. In November 2023, the FASB issued guidance to update qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and the amendments should be applied retrospectively. The Company currently does not expect this guidance to have a material impact on its consolidated financial statement disclosures. In December 2023, the FASB issued guidance to require qualitative and quantitative updates to the rate reconciliation and income taxes paid disclosures, among others, in order to enhance the transparency of income tax disclosures, including consistent categories and greater disaggregation of information in the rate reconciliation and disaggregation by jurisdiction of income taxes paid. This guidance is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments should be applied prospectively; however, retrospective application is also permitted. The Company is currently evaluating the impact this guidance will have on its financial statement disclosures. In November 2024, the FASB issued guidance to require tabular disclosures disaggregating certain types of expenses presented on the income statement within continuing operations, as well as disclosures about selling expenses. This guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted, and the amendments should be applied prospectively; however, retrospective application is also permitted. The Company is currently evaluating the impact this guidance will have on its financial statement disclosures.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Breakdown of Inventories	The following table provides a breakdown of inventories at September 30, 2024 and December 31, 2023 (in thousands): September 30, December 31, 2024 2023 Finished goods $ 1,054,496 $ 1,624,893 Raw materials and work in process (a) 444,282 401,050 Stores, supplies and other 158,910 135,344 Total (b) $ 1,657,688 $ 2,161,287 (a) Includes $295.2 million and $213.4 million at September 30, 2024 and December 31, 2023, respectively, of work in process in our Energy Storage segment. (b) During the year ended December 31, 2023, the Company recorded a $604.1 million charge in Cost of goods sold to reduce the value of certain spodumene and finished goods to their net realizable value following the decline in lithium market pricing at the end of the year.

Other Current Assets (Tables)

Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets	The following table provides a breakdown of other current assets at September 30, 2024 and December 31, 2023 (in thousands): September 30, December 31, 2024 2023 Income tax receivables $ 200,441 $ 112,953 Prepaid taxes 55,464 207,894 Other prepaid expenses 72,326 116,033 Other 684 6,595 Total $ 328,915 $ 443,475

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Income of Unconsolidated Investments	The following table details the Company’s equity in net income of unconsolidated investments (net of tax) for the three-month and nine-month periods ended September 30, 2024 and 2023 (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Windfield $ 227,266 $ 465,931 $ 678,940 $ 1,399,173 Other joint ventures 1,792 4,375 17,496 18,372 Total $ 229,058 $ 470,306 $ 696,436 $ 1,417,545
Schedule Of Assets Liabilities And Results Of Operations For Unconsolidated Joint Ventures	The following table summarizes the unaudited results of operations for the Windfield joint venture, which met the significant subsidiary test for subsidiaries not consolidated or 50% or less owned persons under Rule 10-01 of Regulation S-X, for the three-month and nine-month periods ended September 30, 2024 and 2023 (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net sales $ 338,844 $ 1,478,430 $ 1,070,835 $ 5,756,748 Gross profit 244,490 1,410,698 786,082 5,556,634 Income before income taxes 205,071 1,353,249 626,023 5,289,278 Net income 143,147 947,275 436,247 3,702,503

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Goodwill	The following table summarizes the changes in goodwill by reportable segment for the nine-month period ended September 30, 2024 (in thousands): Energy Storage Specialties Ketjen Total Balance at December 31, 2023 (a) $ 1,424,484 $ 32,639 $ 172,606 $ 1,629,729 Foreign currency translation adjustments 7,158 47 824 8,029 Balance at September 30, 2024 (a) $ 1,431,642 $ 32,686 $ 173,430 $ 1,637,758 (a) Balance at September 30, 2024 and December 31, 2023 includes an accumulated impairment loss of $6.8 million in Ketjen. As a result, the balance of Ketjen at September 30, 2024 and December 31, 2023 fully consists of goodwill related to the Refining Solutions reporting unit.
Other Intangibles	The following table summarizes the changes in other intangibles and related accumulated amortization for the nine-month period ended September 30, 2024 (in thousands): Customer Lists and Relationships Trade Names and Trademarks (a) Patents and Technology Other Total Gross Asset Value Balance at December 31, 2023 $ 417,803 $ 13,405 $ 46,287 $ 34,649 $ 512,144 Retirements — (2,309) (14,506) (4,409) (21,224) Foreign currency translation adjustments and other 1,260 (23) 1,047 29 2,313 Balance at September 30, 2024 $ 419,063 $ 11,073 $ 32,828 $ 30,269 $ 493,233 Accumulated Amortization Balance at December 31, 2023 $ (204,481) $ (3,673) $ (26,758) $ (15,374) $ (250,286) Amortization (14,688) — (1,896) (679) (17,263) Retirements — 2,309 14,506 4,409 21,224 Foreign currency translation adjustments and other (946) 40 61 15 (830) Balance at September 30, 2024 $ (220,115) $ (1,324) $ (14,087) $ (11,629) $ (247,155) Net Book Value at December 31, 2023 $ 213,322 $ 9,732 $ 19,529 $ 19,275 $ 261,858 Net Book Value at September 30, 2024 $ 198,948 $ 9,749 $ 18,741 $ 18,640 $ 246,078 (a) Net Book Value includes only indefinite-lived intangible assets.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt at September 30, 2024 and December 31, 2023 consisted of the following (in thousands): September 30, December 31, 2024 2023 1.125% notes due 2025 $ 419,858 $ 416,501 1.625% notes due 2028 556,650 552,200 3.45% Senior notes due 2029 171,612 171,612 4.65% Senior notes due 2027 650,000 650,000 5.05% Senior notes due 2032 600,000 600,000 5.45% Senior notes due 2044 350,000 350,000 5.65% Senior notes due 2052 450,000 450,000 Commercial paper notes — 620,000 Interest-free loan 300,000 300,000 Variable-rate foreign bank loans 29,713 30,197 Finance lease obligations 112,291 110,245 Other 22,000 22,000 Unamortized discount and debt issuance costs (93,122) (105,992) Total long-term debt 3,569,002 4,166,763 Less amounts due within one year 3,012 625,761 Long-term debt, less current portion $ 3,565,990 $ 3,541,002

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Activity in Recorded Environmental Liabilities	The following activity was recorded in environmental liabilities for the nine months ended September 30, 2024 (in thousands): Beginning balance at December 31, 2023 $ 34,149 Expenditures (3,911) Accretion of discount 865 Liability releases (2,570) Foreign currency translation adjustments and other 670 Ending balance at September 30, 2024 29,203 Less amounts reported in Accrued expenses 4,253 Amounts reported in Other noncurrent liabilities $ 24,950

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2024
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 (net of deferred income taxes) consisted of the following during the periods indicated below (in thousands): Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Foreign Currency Translation and Other Cash Flow Hedge (a) Total Foreign Currency Translation and Other Cash Flow Hedge(a) Total Balance, beginning of period $ (633,583) $ (3,968) $ (637,551) $ (522,297) $ 4,351 $ (517,946) Other comprehensive income (loss) before reclassifications 158,708 (6,849) 151,859 (143,974) (39,021) (182,995) Amounts reclassified from accumulated other comprehensive loss 16 16,064 16,080 17 (67) (50) Other comprehensive income (loss), net of tax 158,724 9,215 167,939 (143,957) (39,088) (183,045) Other comprehensive (income) loss attributable to noncontrolling interests (158) — (158) 19 — 19 Balance, end of period $ (475,017) $ 5,247 $ (469,770) $ (666,235) $ (34,737) $ (700,972) Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Foreign Currency Translation and Other Cash Flow Hedge (a) Total Foreign Currency Translation and Other Cash Flow Hedge (a) Total Balance, beginning of period $ (536,601) $ 8,075 $ (528,526) $ (562,886) $ 2,224 $ (560,662) Other comprehensive income (loss) before reclassifications 61,704 (24,131) 37,573 (103,426) (36,894) (140,320) Amounts reclassified from accumulated other comprehensive loss 49 21,303 21,352 50 (67) (17) Other comprehensive income (loss), net of tax 61,753 (2,828) 58,925 (103,376) (36,961) (140,337) Other comprehensive (income) loss attributable to noncontrolling interests (169) — (169) 27 — 27 Balance, end of period $ (475,017) $ 5,247 $ (469,770) $ (666,235) $ (34,737) $ (700,972) (a) We previously entered into a foreign currency forward contract, which was designated and accounted for as a cash flow hedge under ASC 815, Derivatives and Hedging . During the nine-month period ended September 30, 2024, the Company de-designated the remaining foreign currency forward contracts accounted for as cash flow hedges. The related loss was reclassified to Other (expenses) income, net during the nine-month period ended September 30, 2024. The balance of the settled hedged foreign currency forward contracts will be reclassified to earnings over the life of the related assets. See Note 9, “Restructuring Charges and Asset Write-offs,” and Note 15, “Fair Value of Financial Instruments,” for additional information.
Amount of Income Tax (Expense) Benefit Allocated to Component Of Other Comprehensive Income (Loss)	The amount of income tax (expense) benefit allocated to each component of Other comprehensive income (loss) for the three-month and nine-month periods ended September 30, 2024 and 2023 is provided in the following tables (in thousands): Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Foreign Currency Translation and Other Cash Flow Hedge Total Foreign Currency Translation and Other Cash Flow Hedge Total Other comprehensive income (loss), before tax $ 158,727 $ 14,376 $ 173,103 $ (143,954) $ (39,088) $ (183,042) Income tax expense (3) (5,161) (5,164) (3) — (3) Other comprehensive income (loss), net of tax $ 158,724 $ 9,215 $ 167,939 $ (143,957) $ (39,088) $ (183,045) Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Foreign Currency Translation and Other Cash Flow Hedge Total Foreign Currency Translation and Other Cash Flow Hedge Total Other comprehensive income (loss), before tax $ 61,763 $ (2,828) $ 58,935 $ (103,607) $ (36,961) $ (140,568) Income tax (expense) benefit (10) — (10) 231 — 231 Other comprehensive income (loss), net of tax $ 61,753 $ (2,828) $ 58,925 $ (103,376) $ (36,961) $ (140,337)

Restructuring Charges and Ass_2

Restructuring Charges and Asset Write-offs (Tables)	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table provides details of our restructuring related charges for the three-month and nine-month periods ended September 30, 2024, which represent the cumulative amounts incurred to date for these plans (in thousands): Three Months Ended September 30, 2024 Asset Write-offs (a) Severance and Employee Benefits (b) Contract Cancellation Costs (c) Other (d) Total First Half 2024 Restructuring (e) $ 4,562 $ 504 $ (3,248) $ — $ 1,818 Second Half 2024 Restructuring (f) 785,005 7,988 42,456 23,597 859,046 $ 789,567 $ 8,492 $ 39,208 $ 23,597 $ 860,864 Nine Months Ended September 30, 2024 Asset Write-offs (a) Severance and Employee Benefits (b) Contract Cancellation Costs (c) Other (d) Total First Half 2024 Restructuring (e) $ 280,596 $ 19,365 $ 30,233 $ 5,374 $ 335,568 Second Half 2024 Restructuring (f) 785,005 7,988 42,456 23,597 859,046 $ 1,065,601 $ 27,353 $ 72,689 $ 28,971 $ 1,194,614 (a) Asset write-offs include $16.5 million recorded in Cost of goods sold, primarily related to work in process inventory with no future value as a result of the decomissioning of Kemerton Train 2 that was placed into care and maintenance. The remainder of the asset write-offs primarily relate to property, plant and equipment of the in-construction Kemerton Trains 3 and 4, and Kemerton Train 2 that was placed into care and maintenance. All asset write-off charges not related to inventories were recorded in Restructuring charges and asset write-offs. (b) Severance and employee benefit charges for global employees terminated during the various restructuring programs were recorded in Restructuring charges and asset write-offs. (c) Includes cancellation fees for contractors and required payments under take or pay contracts. All asset write-off charges were recorded in Restructuring charges and asset write-offs. (d) Other includes costs to put Kemerton Train 2 into care and maintenance and similar restructuring costs, and are recorded in Restructuring charges and asset write-offs. In addition, Other includes the reclassification of the related dedesignated cash flow hedge from Accumulated other comprehensive loss. $16.2 million recorded in Other (expenses) income net, for the three-month and nine-month periods ended September 30, 2024 related to the Second Half 2024 Restructuring and $5.4 million recorded in Other (expenses) income, net for the nine-month period ended September 30, 2024 related to the First Half 2024 Restructuring. (e) Severance and employee benefits related to Corporate and all segments. All other restructuring costs were primarily recorded in the Energy Storage segment. (f) Recorded in the Energy Storage segment. The following tables summarize the changes in restructuring liabilities for the nine-month period ended September 30, 2024 (in thousands): First Half 2024 Restructuring Asset Write-offs Severance and Employee Benefits Contract Cancellation Costs Other Total Beginning balance at December 31, 2023 $ — $ — $ — $ — $ — 2024 charges 280,596 19,365 33,481 5,374 338,816 Change in estimate — — (3,248) — (3,248) Cash payments — (18,883) (22,120) — (41,003) Asset writedowns/hedge dedesignation (280,596) — — (5,374) (285,970) Foreign currency translation adjustments — 27 — — 27 Ending balance at September 30, 2024 (a)(b) $ — $ 509 $ 8,113 $ — $ 8,622 Second Half 2024 Restructuring Asset Write-offs Severance and Employee Benefits Contract Cancellation Costs Other Total Beginning balance at December 31, 2023 $ — $ — $ — $ — $ — 2024 charges 785,005 7,988 42,456 23,597 859,046 Cash payments — (5,369) (14,391) — (19,760) Asset writedowns/hedge dedesignation (785,005) — — (16,170) (801,175) Ending balance at September 30, 2024 (a)(b) $ — $ 2,619 $ 28,065 $ 7,427 $ 38,111 (a) Approximately $34.3 million recorded in Accrued expenses and $12.4 million recorded in Other noncurrent liabilities on the consolidated balance sheets as of September 30, 2024. (b) The majority of the remaining balances are expected to be paid in the next twelve months. Certain take or pay liabilities will be paid in line with the terms of the original contract through 2027.

Pension Plans and Other Postr_2

Pension Plans and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Domestic and Foreign Pension and Postretirement Defined Benefit Plans	The components of pension and postretirement benefits cost (credit) for the three-month and nine-month periods ended September 30, 2024 and 2023 were as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Pension Benefits Cost (Credit): Service cost $ 1,576 $ 1,340 $ 4,705 $ 3,995 Interest cost 8,163 8,587 24,448 25,687 Expected return on assets (8,854) (8,434) (26,522) (25,258) Amortization of prior service benefit 20 20 59 61 Total net pension benefits cost $ 905 $ 1,513 $ 2,690 $ 4,485 Postretirement Benefits Cost: Service cost $ 12 $ 12 $ 35 $ 36 Interest cost 360 467 1,081 1,404 Total net postretirement benefits cost $ 372 $ 479 $ 1,116 $ 1,440 Total net pension and postretirement benefits cost $ 1,277 $ 1,992 $ 3,806 $ 5,925

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earning Per Share	Basic and diluted (loss) earnings per share for the three-month and nine-month periods ended September 30, 2024 and 2023 are calculated as follows (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Basic (loss) earnings per share Numerator: Net (loss) income attributable to Albemarle Corporation $ (1,068,992) $ 302,533 $ (1,254,742) $ 2,191,156 Mandatory convertible preferred stock dividends (41,687) — (94,959) — Net (loss) income attributable to Albemarle Corporation common shareholders $ (1,110,679) $ 302,533 $ (1,349,701) $ 2,191,156 Denominator: Weighted-average common shares for basic (loss) earnings per share 117,535 117,349 117,505 117,304 Basic (loss) earnings per share $ (9.45) $ 2.58 $ (11.49) $ 18.68 Diluted (loss) earnings per share Numerator: Net (loss) income attributable to Albemarle Corporation $ (1,068,992) $ 302,533 $ (1,254,742) $ 2,191,156 Mandatory convertible preferred stock dividends (41,687) — (94,959) — Net (loss) income attributable to Albemarle Corporation common shareholders $ (1,110,679) $ 302,533 $ (1,349,701) $ 2,191,156 Denominator: Weighted-average common shares for basic (loss) earnings per share 117,535 117,349 117,505 117,304 Incremental shares under stock compensation plans — 434 — 493 Weighted-average common shares for diluted (loss) earnings per share 117,535 117,783 117,505 117,797 Diluted (loss) earnings per share $ (9.45) $ 2.57 $ (11.49) $ 18.60
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes the number of shares, calculated on a weighted average basis, not included in the computation of diluted earnings per share because their effect would have been anti-dilutive (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Shares assuming the conversion of the mandatory convertible preferred stock 21,022 — 15,568 — Shares under the stock compensation plans 1,138 104 1,058 94

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Lease, Cost	The following table provides details of our lease contracts for the three-month and nine-month periods ended September 30, 2024 and 2023 (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease cost $ 9,184 $ 11,307 $ 28,302 $ 37,369 Finance lease cost: Amortization of right of use assets 1,653 1,686 5,318 4,466 Interest on lease liabilities 1,568 1,616 4,769 4,310 Total finance lease cost 3,221 3,302 10,087 8,776 Short-term lease cost 4,639 4,826 19,443 14,746 Variable lease cost 9,618 7,560 26,630 15,835 Total lease cost $ 26,662 $ 26,995 $ 84,462 $ 76,726 Supplemental cash flow information related to our lease contracts for the nine-month periods ended September 30, 2024 and 2023 is as follows (in thousands): Nine Months Ended 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 26,760 $ 35,364 Operating cash flows from finance leases 8,176 3,593 Financing cash flows from finance leases 3,733 1,627 Right-of-use assets obtained in exchange for lease obligations: Operating leases 16,595 43,907 Finance leases 6,200 46,773
Supplemental Balance Sheet Information related to Leases	Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at September 30, 2024 and December 31, 2023 is as follows (in thousands, except as noted): September 30, 2024 December 31, 2023 Operating leases: Other assets $ 122,746 $ 137,405 Accrued expenses 29,966 30,583 Other noncurrent liabilities 107,808 113,681 Total operating lease liabilities 137,774 144,264 Finance leases: Net property, plant and equipment 113,350 112,438 Current portion of long-term debt (a) 5,043 9,702 Long-term debt 109,279 104,484 Total finance lease liabilities 114,322 114,186 Weighted average remaining lease term (in years): Operating leases 12.4 12.2 Finance leases 20.3 20.7 Weighted average discount rate (%): Operating leases 4.60 % 4.74 % Finance leases 5.61 % 4.71 % (a) Balance includes accrued interest of finance lease recorded in Accrued expenses.
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities at September 30, 2024 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 8,291 $ 3,208 2025 32,404 10,830 2026 23,976 10,162 2027 18,546 10,162 2028 13,643 10,162 Thereafter 110,634 141,523 Total lease payments 207,494 186,047 Less imputed interest 69,720 71,725 Total $ 137,774 $ 114,322
Finance Lease, Liability, Maturity	Maturities of lease liabilities at September 30, 2024 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 8,291 $ 3,208 2025 32,404 10,830 2026 23,976 10,162 2027 18,546 10,162 2028 13,643 10,162 Thereafter 110,634 141,523 Total lease payments 207,494 186,047 Less imputed interest 69,720 71,725 Total $ 137,774 $ 114,322

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Reportable Segments Summarized Financial Information	Segment information for the three-month and nine-month periods ended September 30, 2024 and 2023 were as follows (in thousands). Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net sales: Energy Storage $ 767,291 $ 1,697,163 $ 2,398,299 $ 5,403,910 Specialties 342,376 352,722 993,041 1,142,802 Ketjen 245,025 260,711 754,473 714,326 Total net sales $ 1,354,692 $ 2,310,596 $ 4,145,813 $ 7,261,038 Adjusted EBITDA: Energy Storage $ 142,887 $ 604,948 $ 623,862 $ 3,337,720 Specialties 56,273 46,307 155,629 268,665 Ketjen 35,473 15,159 95,288 72,584 Total segment adjusted EBITDA $ 234,633 $ 666,414 $ 874,779 $ 3,678,969 Depreciation and amortization: Energy Storage $ 124,346 $ 67,323 $ 312,053 $ 176,025 Specialties 24,474 22,699 70,081 63,890 Ketjen 12,988 13,259 38,282 39,486 Total segment depreciation and amortization 161,808 103,281 420,416 279,401 Corporate 1,694 2,164 5,116 6,400 Total depreciation and amortization $ 163,502 $ 105,445 $ 425,532 $ 285,801 See below for a reconciliation of total segment adjusted EBITDA to the Company’s consolidated Net (loss) income attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with U.S. GAAP (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Total segment adjusted EBITDA $ 234,633 $ 666,414 $ 874,779 $ 3,678,969 Corporate expenses, net (23,135) (13,442) 14,315 1,949 Depreciation and amortization (163,502) (105,445) (425,532) (285,801) Interest and financing expenses (47,760) (29,332) (120,916) (81,686) Income tax (expense) benefit (110,853) 8,551 (76,472) (311,399) Proportionate share of Windfield income tax expense (a) (99,523) (199,685) (292,992) (599,646) Acquisition and integration related costs (b) (439) (10,043) (3,927) (21,653) Restructuring charges and asset write-offs (c) (860,864) (1,757) (1,194,614) (9,196) Non-operating pension and OPEB items 331 (620) 993 (1,833) (Loss) gain in fair value of public equity securities (d) (4,983) (26,445) (65,922) 34,401 Legal accrual (e) — — — (218,510) Other (f) 7,103 14,337 35,546 5,561 Net (loss) income attributable to Albemarle Corporation $ (1,068,992) $ 302,533 $ (1,254,742) $ 2,191,156 (a) Albemarle’s 49% ownership interest in the reported income tax expense of the Windfield joint venture. (b) Costs related to the acquisition, integration and potential divestitures for various significant projects, recorded in SG&A. (c) See Note 9, “Restructuring Charges and Asset Write-offs,” for further details. (d) Loss of $5.0 million and $32.2 million recorded in Other (expenses) income, net for the three and nine months ended September 30, 2024, respectively, resulting from the net change in fair value of investments in public equity securities and a loss of $33.7 million recorded in Other (expenses) income, net for the nine months ended September 30, 2024 resulting from the sale of investments in public equity securities. (Loss) gain of ($26.4) million and $34.4 million recorded in Other (expenses) income, net for the three and nine months ended September 30, 2023, respectively, resulting from the net change in fair value of investments in public equity securities. (e) Accrual recorded in SG&A representing for the agreements in principle to resolve a previously disclosed legal matter with the DOJ and SEC. This matter was settled in the third quarter of 2023. (f) Included amounts for the three months ended September 30, 2024 recorded in: • SG&A - $0.1 million of expenses related to certain historical legal matters. • Other (expenses) income, net - $9.2 million of income from PIK dividends of preferred equity in a Grace subsidiary, partially offset by a $2.0 million loss resulting from the adjustment of indemnification related to a previously disposed business. Included amounts for the three months ended September 30, 2023 recorded in: • SG&A - $0.7 million of facility closure expenses related to offices in Germany and $0.3 million of a loss from the sale of legacy properties not part of our operations. • Other (expenses) income, net - $8.2 million gain in the fair value of preferred equity of a Grace subsidiary and a $7.2 million gain resulting from insurance proceeds of a prior legal matter. Included amounts for the nine months ended September 30, 2024 recorded in: • Cost of goods sold - $1.4 million of expenses related to non-routine labor and compensation related costs that are outside normal compensation arrangements. • SG&A - $5.3 million of expenses related to certain historical legal and environmental matters. • Other (expenses) income, net - $26.8 million of income from PIK dividends of preferred equity in a Grace subsidiary, a $17.3 million gain primarily from the sale of assets at a site not part of our operations, a $0.6 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations and a $0.4 million net gain primarily resulting from the adjustment of indemnification related to previously disposed businesses, partially offset by $2.9 million of charges for asset retirement obligations at a site not part of our operations. Included amounts for the nine months ended September 30, 2023 recorded in: • SG&A - $2.1 million of facility closure expenses related to offices in Germany, $1.9 million of charges primarily for environmental reserves at sites not part of our operations and $1.0 million primarily related to shortfall contributions for a multiemployer plan financial improvement plan. • Other (expenses) income, net - $10.9 million gain in the fair value of preferred equity of a Grace subsidiary and a $7.2 million gain resulting from insurance proceeds of a prior legal matter, partially offset by $3.9 million of a loss resulting from the adjustment of indemnification related to previously disposed businesses and $3.6 million of charges for asset retirement obligations at a site not part of our operations.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Long-Term Debt	The carrying value of our remaining long-term debt reported in the accompanying consolidated balance sheets approximates fair value as substantially all of such debt bears interest based on prevailing variable market rates currently available in the countries in which we have borrowings. September 30, 2024 December 31, 2023 Recorded Fair Value Recorded Fair Value (In thousands) Long-term debt $ 3,586,452 $ 3,472,443 $ 4,186,532 $ 4,021,693
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table summarizes the fair value of our derivative financial instruments included in the consolidated balance sheets as of September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 December 31, 2023 Assets Liabilities Assets Liabilities Designated as hedging instruments Other current assets $ — $ — $ 3,489 $ — Other assets — — 11,704 — Accrued expenses — — — 446 Total designated as hedging instruments — — 15,193 446 Not designated as hedging instruments Other current assets 237 — 2,636 — Accrued expenses — 8,892 — 5,306 Other noncurrent liabilities — 6,535 — — Total not designated as hedging instruments 237 15,427 2,636 5,306 Total $ 237 $ 15,427 $ 17,829 $ 5,752
Derivative Instruments, Losses	The following table summarizes the net (losses) gains recognized for our derivative financial instruments during the three-month and nine-month periods ended September 30, 2024 and 2023 (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Designated as hedging instruments Loss recognized in Other comprehensive (loss) income $ (6,849) $ (39,021) $ (24,131) $ (36,894) (Loss) income recognized in Other (expenses) income, net $ (16,064) $ 67 $ (21,303) $ 67 Not designated as hedging instruments (Loss) income recognized in Other (expenses) income, net (a) $ (20,534) $ (59,241) $ (7,559) $ 184,166 (a) Fluctuations in the value of our foreign currency forward contracts not designated as hedging instruments are generally expected to be offset by changes in the value of the underlying exposures being hedged, which are also reported in Other (expenses) income, net.

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Accounted for at Fair Value on Recurring Basis	The following tables set forth our financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 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) $ 304,507 $ — $ — $ 304,507 Investments under executive deferred compensation plan (b) $ 35,367 $ 35,367 $ — $ — Public equity securities (c) $ 22,747 $ 22,747 $ — $ — Private equity securities measured at net asset value (d)(e) $ 4,478 $ — $ — $ — Derivative financial instruments (f) $ 237 $ — $ 237 $ — Liabilities: Obligations under executive deferred compensation plan (b) $ 35,367 $ 35,367 $ — $ — Derivative financial instruments (f) $ 15,427 $ — $ 15,427 $ — December 31, 2023 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) $ 289,307 $ — $ — $ 289,307 Investments under executive deferred compensation plan (b) $ 33,564 $ 33,564 $ — $ — Public equity securities (c) $ 168,928 $ 168,928 $ — $ — Private equity securities measured at net asset value (d)(e) $ 4,536 $ — $ — $ — Derivative financial instruments (f) $ 17,829 $ — $ 17,829 $ — Liabilities: Obligations under executive deferred compensation plan (b) $ 33,564 $ 33,564 $ — $ — Derivative financial instruments (f) $ 5,752 $ — $ 5,752 $ — (a) Preferred equity of a Grace subsidiary acquired as a portion of the proceeds of the FCS sale on June 1, 2021. 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 (loss) income) and cash and cash equivalents. As such, these assets and obligations are classified within Level 1. (c) Holdings in equity securities of public companies reported in Investments in the consolidated balance sheets. The fair value is measured using publicly available share prices of the investments, and as a result these balances are classified within Level 1. Any changes are reported in Other (expenses) income, net in our consolidated statements of (loss) income. See Note 4, “Investments,” for further details. (d) Primarily consists of private equity securities reported in Investments in the consolidated balance sheets. The changes in fair value are reported in Other (expenses) income, net in our consolidated statements of (loss) income. (e) 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. (f) The derivative financial instruments are primarily comprised of foreign currency forward contracts. 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 15, “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 table sets 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, 2023 $ 289,307 PIK dividends 26,827 Cash received for tax liability (11,627) Ending balance at September 30, 2024 $ 304,507

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Our consolidated statements of (loss) income include sales to and purchases from unconsolidated affiliates in the ordinary course of business as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Sales to unconsolidated affiliates $ 11,618 $ 4,070 $ 13,803 $ 14,843 Purchases from unconsolidated affiliates (a) $ 187,117 $ 884,886 $ 505,570 $ 3,072,374 (a) Purchases from unconsolidated affiliates primarily relate to spodumene purchased from the Company’s Windfield joint venture. The decrease from prior year primarily related to the lower lithium market prices in recent months. Our consolidated balance sheets include accounts receivable due from and payable to unconsolidated affiliates in the ordinary course of business as follows (in thousands): September 30, 2024 December 31, 2023 Receivables from unconsolidated affiliates $ 11,249 $ 15,992 Payables to unconsolidated affiliates (a) $ 152,093 $ 550,186 (a) Payables to unconsolidated affiliates primarily relate to spodumene purchased from the Company’s Windfield joint venture under normal payment terms.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental information related to the condensed consolidated statements of cash flows is as follows (in thousands): Nine Months Ended 2024 2023 Supplemental non-cash disclosure related to investing and financing activities: Capital expenditures included in Accounts payable $ 297,222 $ 434,882 Common stock issued for annual incentive bonus plan (a) 11,545 — (a) During the nine-month period ended September 30, 2024, the Company issued 95,003 shares of common stock to certain employees in lieu of cash as payment of a portion of their 2023 annual incentive bonus plan.

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Sep. 30, 2024
Revision of Prior Period, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of Goods and Services Sold	$ 17.4			$ 17.4
Out-of-period adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of Goods and Services Sold		$ 9.1	$ 8.3

Inventories - Breakdown of inve

Inventories - Breakdown of inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 1,054,496	$ 1,624,893
Raw materials and work in process	444,282	401,050
Stores, supplies and other	158,910	135,344
Total inventories	$ 1,657,688	$ 2,161,287

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Inventory [Line Items]
Inventory net realizable value adjustment		$ 604.1
Other variable interest entities
Inventory [Line Items]
Equity Method Investment, Deferred Gain on Sale	$ 86.7	559.6
Energy Storage
Inventory [Line Items]
Work in process related to Lithium	$ 295.2	$ 213.4

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Income Taxes Receivables	$ 200,441	$ 112,953
Prepaid Taxes	55,464	207,894
Other Prepaid Expenses	72,326	116,033
Other	684	6,595
Other current assets	$ 328,915	$ 443,475

Investments (Details)

Investments (Details) - USD ($) $ in Thousands			1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 18, 2023	Jun. 01, 2021	Jan. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Schedule of Investments [Line Items]
Income (Loss) from Equity Method Investments				$ 229,058	$ 470,306	$ 696,436		$ 1,417,545
Net sales				1,354,692	2,310,596	4,145,813		7,261,038
Gross profit				(104,034)	54,934	(75,674)		1,889,961
Net (loss) income				(1,060,641)	320,693	(1,220,588)		2,273,835
Equity Securities, Purchases								203,400
Mark-to-market (loss) gain on public equity securities				(5,000)	(26,400)	(32,200)		34,400
Proceeds from sale of equity securities			$ 81,500
Equity securities realized loss						33,700
Fine Chemistry Services
Schedule of Investments [Line Items]
Preferred Stock, Value, Outstanding		$ 270,000		304,500		304,500	$ 289,300
Preferred Stock, Dividend Rate, Percentage		12%
Preferred equity redemption original value threshold		200%
Significant Unconsolidated Joint Ventures
Schedule of Investments [Line Items]
Net sales				338,844	1,478,430	1,070,835		5,756,748
Gross profit				244,490	1,410,698	786,082		5,556,634
Income before income taxes				205,071	1,353,249	626,023		5,289,278
Net (loss) income				143,147	947,275	436,247		3,702,503
Windfield Holdings
Schedule of Investments [Line Items]
Carrying value of unconsolidated investment				637,900		637,900	712,000
Windfield Holdings
Schedule of Investments [Line Items]
Income (Loss) from Equity Method Investments				$ 227,266	465,931	$ 678,940		1,399,173
Equity method investment, ownership percentage				49%		49%
Windfield Holdings | Windfield Holdings
Schedule of Investments [Line Items]
Equity method investment, ownership percentage				49%		49%
Other Joint Ventures
Schedule of Investments [Line Items]
Income (Loss) from Equity Method Investments				$ 1,792	$ 4,375	$ 17,496		$ 18,372
Mineral Resources Limited
Schedule of Investments [Line Items]
Capital costs committed							380,000
Capital costs committed, consideration							$ 180,000
Kemerton Plant
Schedule of Investments [Line Items]
Ownership percentage purchased	40%
Mineral Resources Limited Wodgina Project
Schedule of Investments [Line Items]
Ownership percentage	50%

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Changes in Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,629,729
Foreign currency translation adjustments	8,029
Balance at end of period	1,637,758
Ketjen
Goodwill [Roll Forward]
Goodwill, Impaired, Accumulated Impairment Loss	6,800	$ 6,800
Reportable Segments | Energy Storage
Goodwill [Roll Forward]
Balance at beginning of period	1,424,484
Foreign currency translation adjustments	7,158
Balance at end of period	1,431,642
Reportable Segments | Specialties
Goodwill [Roll Forward]
Balance at beginning of period	32,639
Foreign currency translation adjustments	47
Balance at end of period	32,686
Reportable Segments | Ketjen
Goodwill [Roll Forward]
Balance at beginning of period	172,606
Foreign currency translation adjustments	824
Balance at end of period	$ 173,430

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Other Intangibles (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	$ 512,144
Retirements	(21,224)
Foreign currency translation adjustments and other	2,313
Gross Asset Value, End of Period	493,233
Accumulated Amortization, Beginning of Period	(250,286)
Amortization	(17,263)
Retirements	21,224
Foreign currency translation adjustments and other	(830)
Accumulated Amortization, End of Period	(247,155)
Net Book Value	246,078	$ 261,858
Customer Lists and Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	417,803
Retirements	0
Foreign currency translation adjustments and other	1,260
Gross Asset Value, End of Period	419,063
Accumulated Amortization, Beginning of Period	(204,481)
Amortization	(14,688)
Retirements	0
Foreign currency translation adjustments and other	(946)
Accumulated Amortization, End of Period	(220,115)
Net Book Value	198,948	213,322
Trade Names and Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	13,405
Retirements	(2,309)
Foreign currency translation adjustments and other	(23)
Gross Asset Value, End of Period	11,073
Accumulated Amortization, Beginning of Period	(3,673)
Amortization	0
Retirements	2,309
Foreign currency translation adjustments and other	40
Accumulated Amortization, End of Period	(1,324)
Net Book Value	9,749	9,732
Patents and Technology
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	46,287
Retirements	(14,506)
Foreign currency translation adjustments and other	1,047
Gross Asset Value, End of Period	32,828
Accumulated Amortization, Beginning of Period	(26,758)
Amortization	(1,896)
Retirements	14,506
Foreign currency translation adjustments and other	61
Accumulated Amortization, End of Period	(14,087)
Net Book Value	18,741	19,529
Other
Finite-Lived Intangible Assets [Line Items]
Gross Asset Value, Beginning of Period	34,649
Retirements	(4,409)
Foreign currency translation adjustments and other	29
Gross Asset Value, End of Period	30,269
Accumulated Amortization, Beginning of Period	(15,374)
Amortization	(679)
Retirements	4,409
Foreign currency translation adjustments and other	15
Accumulated Amortization, End of Period	(11,629)
Net Book Value	$ 18,640	$ 19,275

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Total long-term Debt	$ 3,569,002		$ 4,166,763
Unamortized discount and debt issuance costs	(93,122)		(105,992)
Current portion of long-term debt	3,012		625,761
Long-term debt	3,565,990		3,541,002
Repayments of commercial paper	620,000
Proceeds from issuance of mandatory convertible preferred stock, net of issuance costs	2,236,750	$ 0
Unsecured debt | 1.125% Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 419,858		$ 416,501
Debt instrument, interest rate	1.125%		1.125%
Unsecured debt | 1.625% Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 556,650		$ 552,200
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 | 4.65% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 650,000		$ 650,000
Debt instrument, interest rate	4.65%		4.65%
Senior notes | 5.05% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 600,000		$ 600,000
Debt instrument, interest rate	5.05%		5.05%
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%
Senior notes | 5.65% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt	$ 450,000		$ 450,000
Debt instrument, interest rate	5.65%		5.65%
Commercial paper notes
Debt Instrument [Line Items]
Total long-term Debt	$ 0		$ 620,000
Interest-free loan
Debt Instrument [Line Items]
Total long-term Debt	300,000		300,000
Variable-rate foreign bank loans
Debt Instrument [Line Items]
Total long-term Debt	29,713		30,197
Finance lease obligations
Debt Instrument [Line Items]
Total long-term Debt	112,291		110,245
Other
Debt Instrument [Line Items]
Total long-term Debt	$ 22,000		$ 22,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details)

3 Months Ended

6 Months Ended

9 Months Ended

Oct. 28, 2022 USD ($)

Sep. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Mar. 31, 2025

Dec. 31, 2024

Sep. 30, 2024 USD ($)

Jun. 30, 2026

Jun. 30, 2025

Sep. 30, 2024 USD ($)

Sep. 30, 2023 USD ($)

Debt Instrument [Line Items]

Repayments of commercial paper

$ 620,000,000

Proceeds from issuance of mandatory convertible preferred stock, net of issuance costs

2,236,750,000

$ 0

2022 Credit Agreement

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 1,500,000,000

Interest rate on amount borrowed

1.20%

Borrowings outstanding

$ 0

0

2022 Credit Agreement | Secured Overnight Financing Rate (SOFR)

Debt Instrument [Line Items]

Interest rate on amount borrowed

0.10%

2022 Credit Agreement | Minimum

Debt Instrument [Line Items]

Interest rate on amount borrowed

0.91%

2022 Credit Agreement | Maximum

Debt Instrument [Line Items]

Interest rate on amount borrowed

1.375%

Credit facilities

Debt Instrument [Line Items]

Debt covenant ratio, maximum debt to EBITDA

5.50

Credit facilities | Forecast

Debt Instrument [Line Items]

Debt covenant ratio, maximum debt to EBITDA

3.50

5

5.50

5.75

4.75

4

4.75

Debt covenant ratio, minimum EBITDA to interest charges

3

2.50

2

1

Revolving credit facility

Debt Instrument [Line Items]

Debt Covenant

$ 500,000,000

$ 500,000,000

Commitments and Contingencies -

Commitments and Contingencies - Activity in Recorded Environmental Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at beginning of period	$ 34,149
Expenditures	(3,911)
Accretion of discount	865
Liability releases	(2,570)
Foreign currency translation adjustments and other	670
Balance at end of period	29,203
Less amounts reported in Accrued expenses	4,253
Amounts reported in Other noncurrent liabilities	$ 24,950

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Loss Contingencies [Line Items]
Environmental remediation liabilities - discounted	$ 25.5	$ 27.4
Accrual for environmental loss contingencies - weighted-average discount rate	3.60%	3.70%
Environmental remediation liabilities - undiscounted	$ 52.4	$ 55.4
Potential revision on future environmental remediation costs before tax	46
Other noncurrent liabilities
Loss Contingencies [Line Items]
Tax indemnification liability	$ 14.9	$ 14.5

Equity - Additional Information

Equity - Additional Information (Details) $ / shares in Units, $ in Thousands					9 Months Ended
	Nov. 15, 2024 $ / shares	Sep. 01, 2024 $ / shares	Jun. 01, 2024 $ / shares	Mar. 08, 2024 d $ / shares shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($)	Oct. 28, 2024 $ / shares	Jul. 16, 2024 $ / shares	May 10, 2024 shares	May 09, 2024 $ / shares shares	Dec. 31, 2023 $ / shares shares
Class of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares					$ 0.01					$ 0.01	$ 0.01
Common stock, authorized (in shares)					275,000,000				275,000,000	150,000,000	275,000,000
Cash dividend, amount per share (in dollars per share) | $ / shares								$ 0.405
Preferred stock, issued (in shares)					2,300,000						0
Proceeds from issuance of mandatory convertible preferred stock, net of issuance costs | $					$ 2,236,750	$ 0
Preferred stock, outstanding (in shares)					2,300,000						0
Subsequent Event
Class of Stock [Line Items]
Cash dividend, amount per share (in dollars per share) | $ / shares							$ 0.405
Depositary shares
Class of Stock [Line Items]
Shares, Issued				46,000,000
Preferred stock conversion ratio				0.05
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, issued (in shares)				2,300,000
Preferred stock, liquidation preference (in dollars per share) | $ / shares				$ 1,000
Preferred Stock, Dividend Rate, Percentage				7.25%
Preferred Stock, Dividend Rate, Per-Dollar-Amount | $ / shares		$ 18.125	$ 17.12
Convertible Preferred Stock Threshold Trading Days | d				20
Series A Preferred Stock | Minimum
Class of Stock [Line Items]
Convertible Preferred Stock, Shares Issued upon Conversion				7.618
Series A Preferred Stock | Maximum
Class of Stock [Line Items]
Convertible Preferred Stock, Shares Issued upon Conversion				9.140
Series A Preferred Stock | Subsequent Event
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Per-Dollar-Amount | $ / shares	$ 18.125

Equity - Components and Activit

Equity - Components and Activity in Accumulated Other Comprehensive (Loss) Income Net of Deferred Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	$ 11,483,155	$ 10,088,040	$ 9,665,099	$ 8,190,847
Other comprehensive income (loss) before reclassifications	151,859	(182,995)	37,573	(140,320)
Amounts reclassified from accumulated other comprehensive loss	16,080	(50)	21,352	(17)
Total other comprehensive income (loss), net of tax	167,939	(183,045)	58,925	(140,337)
Other comprehensive (income) loss attributable to noncontrolling interests	(158)	19	(169)	27
Ending Balance	10,490,661	10,162,439	10,490,661	10,162,439
Foreign Currency Translation and Other
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(633,583)	(522,297)	(536,601)	(562,886)
Other comprehensive income (loss) before reclassifications	158,708	(143,974)	61,704	(103,426)
Amounts reclassified from accumulated other comprehensive loss	16	17	49	50
Total other comprehensive income (loss), net of tax	158,724	(143,957)	61,753	(103,376)
Other comprehensive (income) loss attributable to noncontrolling interests	(158)	19	(169)	27
Ending Balance	(475,017)	(666,235)	(475,017)	(666,235)
Cash Flow Hedge
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(3,968)	4,351	8,075	2,224
Other comprehensive income (loss) before reclassifications	(6,849)	(39,021)	(24,131)	(36,894)
Amounts reclassified from accumulated other comprehensive loss	16,064	(67)	21,303	(67)
Total other comprehensive income (loss), net of tax	9,215	(39,088)	(2,828)	(36,961)
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	5,247	(34,737)	5,247	(34,737)
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(637,551)	(517,946)	(528,526)	(560,662)
Total other comprehensive income (loss), net of tax	167,781	(183,026)	58,756	(140,310)
Ending Balance	$ (469,770)	$ (700,972)	$ (469,770)	$ (700,972)

Equity - Amount of Income Tax B

Equity - Amount of Income Tax Benefit (Expense) Allocated to Component of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	$ 173,103	$ (183,042)	$ 58,935	$ (140,568)
Income tax (expense) benefit	(5,164)	(3)	(10)	231
Total other comprehensive income (loss), net of tax	167,939	(183,045)	58,925	(140,337)
Foreign Currency Translation and Other
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	158,727	(143,954)	61,763	(103,607)
Income tax (expense) benefit	(3)	(3)	(10)	231
Total other comprehensive income (loss), net of tax	158,724	(143,957)	61,753	(103,376)
Cash Flow Hedge
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	14,376	(39,088)	(2,828)	(36,961)
Income tax (expense) benefit	(5,161)	0	0	0
Total other comprehensive income (loss), net of tax	$ 9,215	$ (39,088)	$ (2,828)	$ (36,961)

Restructuring Charges and Ass_3

Restructuring Charges and Asset Write-offs - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs		$ 828,146	$ 1,757	$ 1,156,522	$ 9,196
Restructuring charges and asset write-offs		860,864	1,757	1,194,614	9,196
Other income, net
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs		16,200		21,600
Second Half 2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve		38,111		38,111		$ 0
Second Half 2024 Restructuring | Severance and Employee Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve		2,619		2,619		0
Second Half 2024 Restructuring | Subsequent Event | Forecast | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs	$ 30,000
Other restructuring costs	25,000
Second Half 2024 Restructuring | Subsequent Event | Forecast | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs	50,000
Other restructuring costs	$ 30,000
Second Half 2024 Restructuring | Restructuring and Capital Project Assets Write-off
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs		826,300		826,300
Second Half 2024 Restructuring | Other income, net
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs		16,200		16,200
Second Half 2024 Restructuring | Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs		16,500		16,500
First Half 2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve		8,622		8,622		0
First Half 2024 Restructuring | Severance and Employee Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve		509		509		0
First Half 2024 Restructuring | Restructuring and Capital Project Assets Write-off
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs		$ 1,800		330,200
First Half 2024 Restructuring | Other income, net
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs				$ 5,400
2023 Restructuring | Severance and Employee Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve						$ 3,300
2023 Restructuring | Restructuring and Capital Project Assets Write-off
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs			$ 1,800		$ 9,200

Restructuring Charges and Ass_4

Restructuring Charges and Asset Write-offs - Restructuring Related Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	$ 860,864		$ 1,194,614
Restructuring charges and asset write-offs	828,146	$ 1,757	1,156,522	$ 9,196
Other income, net
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs	16,200		21,600
First Half 2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	1,818		335,568
First Half 2024 Restructuring | Other income, net
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs			5,400
Second Half 2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	859,046		859,046
Second Half 2024 Restructuring | Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs	16,500		16,500
Second Half 2024 Restructuring | Other income, net
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset write-offs	16,200		16,200
Asset Write-offs
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	789,567		1,065,601
Asset Write-offs | First Half 2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	4,562		280,596
Asset Write-offs | Second Half 2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	785,005		785,005
Severance and Employee Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	8,492		27,353
Severance and Employee Benefits | First Half 2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	504		19,365
Severance and Employee Benefits | Second Half 2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	7,988		7,988
Contract Cancellation Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	39,208		72,689
Contract Cancellation Costs | First Half 2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	(3,248)		30,233
Contract Cancellation Costs | Second Half 2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	42,456		42,456
Other
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	23,597		28,971
Other | First Half 2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	0		5,374
Other | Second Half 2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	$ 23,597		$ 23,597

Restructuring Charges and Ass_5

Restructuring Charges and Asset Write-offs - Changes in Restructuring Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
First Half 2024 Restructuring
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	$ 0
Charges	338,816
Restructuring Reserve, Accrual Adjustment	(3,248)
Cash payments	(41,003)
Asset writedowns/hedge dedesignation	(285,970)
Foreign currency translation adjustments	27
Restructuring Reserve, Ending Balance	8,622
Second Half 2024 Restructuring
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	859,046
Cash payments	(19,760)
Asset writedowns/hedge dedesignation	(801,175)
Restructuring Reserve, Ending Balance	38,111
Accrued expenses
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Ending Balance	34,300
Other noncurrent liabilities
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Ending Balance	12,400
Asset Write-offs | First Half 2024 Restructuring
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	280,596
Restructuring Reserve, Accrual Adjustment	0
Cash payments	0
Asset writedowns/hedge dedesignation	(280,596)
Foreign currency translation adjustments	0
Restructuring Reserve, Ending Balance	0
Asset Write-offs | Second Half 2024 Restructuring
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	785,005
Cash payments	0
Asset writedowns/hedge dedesignation	(785,005)
Restructuring Reserve, Ending Balance	0
Severance and Employee Benefits | First Half 2024 Restructuring
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	19,365
Restructuring Reserve, Accrual Adjustment	0
Cash payments	(18,883)
Asset writedowns/hedge dedesignation	0
Foreign currency translation adjustments	27
Restructuring Reserve, Ending Balance	509
Severance and Employee Benefits | Second Half 2024 Restructuring
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	7,988
Cash payments	(5,369)
Asset writedowns/hedge dedesignation	0
Restructuring Reserve, Ending Balance	2,619
Contract Cancellation Costs | First Half 2024 Restructuring
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	33,481
Restructuring Reserve, Accrual Adjustment	(3,248)
Cash payments	(22,120)
Asset writedowns/hedge dedesignation	0
Foreign currency translation adjustments	0
Restructuring Reserve, Ending Balance	8,113
Contract Cancellation Costs | Second Half 2024 Restructuring
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	42,456
Cash payments	(14,391)
Asset writedowns/hedge dedesignation	0
Restructuring Reserve, Ending Balance	28,065
Other | First Half 2024 Restructuring
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	5,374
Restructuring Reserve, Accrual Adjustment	0
Cash payments	0
Asset writedowns/hedge dedesignation	(5,374)
Foreign currency translation adjustments	0
Restructuring Reserve, Ending Balance	0
Other | Second Half 2024 Restructuring
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	23,597
Cash payments	0
Asset writedowns/hedge dedesignation	(16,170)
Restructuring Reserve, Ending Balance	$ 7,427

Pension Plans and Other Postr_3

Pension Plans and Other Postretirement Benefits - Domestic and Foreign Pension and Postretirement Defined Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Total net pension and postretirement benefits cost	$ 1,277	$ 1,992	$ 3,806	$ 5,925
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,576	1,340	4,705	3,995
Interest cost	8,163	8,587	24,448	25,687
Expected return on assets	(8,854)	(8,434)	(26,522)	(25,258)
Amortization of prior service benefit	20	20	59	61
Total net pension and postretirement benefits cost	905	1,513	2,690	4,485
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	12	12	35	36
Interest cost	360	467	1,081	1,404
Total net pension and postretirement benefits cost	$ 372	$ 479	$ 1,116	$ 1,440

Pension Plans and Other Postr_4

Pension Plans and Other Postretirement Benefits - Pension and Postretirement Plan Contributions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Retirement Benefits [Abstract]
Employer contributions	$ 3.9	$ 3.6	$ 13.3	$ 12.2

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	(9.40%)	5.40%	(4.20%)	26.70%
Federal statutory rate			21%

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted Earnings Per Share From Continuing Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Basic earnings per share from continuing operations
Net (loss) income attributable to Albemarle Corporation	$ (1,068,992)	$ 302,533	$ (1,254,742)	$ 2,191,156
Mandatory convertible preferred stock dividends	(41,687)	0	(94,959)	0
Net (loss) income attributable to Albemarle Corporation common shareholders	$ (1,110,679)	$ 302,533	$ (1,349,701)	$ 2,191,156
Weighted-average common shares for basic earnings per share (in shares)	117,535	117,349	117,505	117,304
Basic (loss) earnings per share attributable to common shareholders (in dollars per share)	$ (9.45)	$ 2.58	$ (11.49)	$ 18.68
Diluted earnings per share from continuing operations
Net (loss) income attributable to Albemarle Corporation	$ (1,068,992)	$ 302,533	$ (1,254,742)	$ 2,191,156
Mandatory convertible preferred stock dividends	(41,687)	0	(94,959)	0
Net (loss) income attributable to Albemarle Corporation common shareholders	$ (1,110,679)	$ 302,533	$ (1,349,701)	$ 2,191,156
Weighted-average common shares for basic earnings per share (in shares)	117,535	117,349	117,505	117,304
Incremental shares under stock compensation plans (in shares)	0	434	0	493
Weighted-average common shares outstanding - diluted (in shares)	117,535	117,783	117,505	117,797
Diluted (loss) earnings per share attributable to common shareholders (in dollars per share)	$ (9.45)	$ 2.57	$ (11.49)	$ 18.60

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Shares assuming the conversion of the mandatory convertible preferred stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share	21,022	0	15,568	0
Shares under the stock compensation plans
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,138	104	1,058	94

Leases - Additional Information

Leases - Additional Information (Details)	Sep. 30, 2024
Minimum
Lessee, Lease, Description [Line Items]
Lease renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease renewal term	50 years
Real estate | Minimum
Lessee, Lease, Description [Line Items]
Lease term of contract	1 year
Real estate | Maximum
Lessee, Lease, Description [Line Items]
Lease term of contract	30 years
Non-real estate | Minimum
Lessee, Lease, Description [Line Items]
Lease term of contract	2 years
Non-real estate | Maximum
Lessee, Lease, Description [Line Items]
Lease term of contract	15 years

Leases - Leases Cost (Details)

Leases - Leases Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease cost	$ 9,184	$ 11,307	$ 28,302	$ 37,369
Amortization of right of use assets	1,653	1,686	5,318	4,466
Interest on lease liabilities	1,568	1,616	4,769	4,310
Total finance lease cost	3,221	3,302	10,087	8,776
Short-term lease cost	4,639	4,826	19,443	14,746
Variable lease cost	9,618	7,560	26,630	15,835
Total lease cost	$ 26,662	$ 26,995	$ 84,462	$ 76,726

Leases - Leases Cash Flow (Deta

Leases - Leases Cash Flow (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating cash flows from operating leases	$ 26,760	$ 35,364
Operating cash flows from finance leases	8,176	3,593
Financing cash flows from finance leases	3,733	1,627
Right-of-use asset obtained in exchange for operating leases	16,595	43,907
Right-of-use asset obtained in exchange for financing leases	$ 6,200	$ 46,773

Leases - Leases Balance Sheet (

Leases - Leases Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Other assets	$ 122,746	$ 137,405
Accrued expenses	29,966	30,583
Other noncurrent liabilities	107,808	113,681
Total operating lease liabilities	137,774	144,264
Net property, plant and equipment	113,350	112,438
Current portion of long-term debt	5,043	9,702
Long-term debt	109,279	104,484
Total finance lease liabilities	$ 114,322	$ 114,186
Weighted average remaining lease term, operating leases	12 years 4 months 24 days	12 years 2 months 12 days
Weighted average remaining lease term, finance leases	20 years 3 months 18 days	20 years 8 months 12 days
Weighted average discount rate, operating leases, percent	4.60%	4.74%
Weighted average discount rate, finance leases, percent	5.61%	4.71%

Leases - Leases Maturity Table

Leases - Leases Maturity Table (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating Leases
Remainder of 2024	$ 8,291
2025	32,404
2026	23,976
2027	18,546
2028	13,643
Thereafter	110,634
Total lease payments	207,494
Less imputed interest	69,720
Total operating lease liabilities	137,774	$ 144,264
Finance Leases
Remainder of 2024	3,208
2025	10,830
2026	10,162
2027	10,162
2028	10,162
Thereafter	141,523
Total lease payments	186,047
Less imputed interest	71,725
Total finance lease liabilities	$ 114,322	$ 114,186

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Information - Summarize

Segment Information - Summarized Financial Information by Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,354,692	$ 2,310,596	$ 4,145,813	$ 7,261,038
Depreciation and amortization	(163,502)	(105,445)	(425,532)	(285,801)
Interest and financing expenses	(47,760)	(29,332)	(120,916)	(81,686)
Income tax (expense) benefit	(110,853)	8,551	(76,472)	(311,399)
Proportionate share of Windfield income tax expense	(99,523)	(199,685)	(292,992)	(599,646)
Acquisition and integration related costs	(439)	(10,043)	(3,927)	(21,653)
Restructuring and other charges	(860,864)	(1,757)	(1,194,614)	(9,196)
Non-operating pension and OPEB items	331	(620)	993	(1,833)
(Loss) gain in fair value of public equity securities	(4,983)	(26,445)	(65,922)	34,401
Legal Accrual	0	0	0	(218,510)
Other	7,103	14,337	35,546	5,561
Net (loss) income attributable to Albemarle Corporation	(1,068,992)	302,533	(1,254,742)	2,191,156
Reportable Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	234,633	666,414	874,779	3,678,969
Depreciation and amortization	(161,808)	(103,281)	(420,416)	(279,401)
Reportable Segments | Energy Storage
Segment Reporting Information [Line Items]
Net sales	767,291	1,697,163	2,398,299	5,403,910
Adjusted EBITDA	142,887	604,948	623,862	3,337,720
Depreciation and amortization	(124,346)	(67,323)	(312,053)	(176,025)
Reportable Segments | Specialties
Segment Reporting Information [Line Items]
Net sales	342,376	352,722	993,041	1,142,802
Adjusted EBITDA	56,273	46,307	155,629	268,665
Depreciation and amortization	(24,474)	(22,699)	(70,081)	(63,890)
Reportable Segments | Ketjen
Segment Reporting Information [Line Items]
Net sales	245,025	260,711	754,473	714,326
Adjusted EBITDA	35,473	15,159	95,288	72,584
Depreciation and amortization	(12,988)	(13,259)	(38,282)	(39,486)
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA	(23,135)	(13,442)	14,315	1,949
Depreciation and amortization	$ (1,694)	$ (2,164)	$ (5,116)	$ (6,400)

Segment Information - Summari_2

Segment Information - Summarized Financial Information by Reportable Segments (Footnote) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Mark-to-market (loss) gain on public equity securities	$ (5,000)	$ (26,400)	$ (32,200)	$ 34,400
(Loss) gain in fair value of public equity securities	(4,983)	(26,445)	(65,922)	34,401
Liability releases			(2,570)
Selling, general and administrative expenses
Segment Reporting Information [Line Items]
Legal costs	100		5,300
Other restructuring costs		700		2,100
Gain (loss) on sale of properties		(300)
Liability releases				1,900
Multiemployer plan, period contributions				1,000
Other income, net
Segment Reporting Information [Line Items]
Mark-to-market (loss) gain on public equity securities	(5,000)	(26,400)	(32,200)	34,400
(Loss) gain in fair value of public equity securities			(33,700)
Preferred equity gain	9,200	8,200	26,800	10,900
Revision of tax indemnification expense (gain) loss	$ 2,000		(400)	3,900
Insurance Proceeds		$ 7,200		7,200
Gain (loss) on sale of assets			17,300
Liability releases			600
Charges for asset retirement obligations			2,900	$ 3,600
Cost of goods sold
Segment Reporting Information [Line Items]
Non-routine labor costs			$ 1,400
Windfield Holdings
Segment Reporting Information [Line Items]
Equity method investment, ownership percentage	49%		49%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Value of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Total long-term debt, excluding debt issuance costs	$ 3,586,452	$ 4,186,532
Total long-term debt, fair value, excluding debt issuance costs	$ 3,472,443	$ 4,021,693

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fair Value, Option, Quantitative Disclosures [Line Items]
Foreign currency forward contracts, assets	$ 237		$ 237		$ 17,829
Foreign currency forward contracts, liabilities	15,427		15,427		5,752
Loss recognized in Other comprehensive (loss) income	9,215	$ (39,088)	(2,828)	$ (36,961)
Restructuring charges and asset write-offs	828,146	1,757	1,156,522	9,196
Other income, net
Fair Value, Option, Quantitative Disclosures [Line Items]
Restructuring charges and asset write-offs	16,200		21,600
Forward contracts | Other, net
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, Cash Received on Hedge			5,500	192,800
Forward contracts | Designated as Hedging Instrument
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, notional amount					994,500
Fair value foreign currency forward contracts designated as hedging instruments, asset	0		0		15,193
Fair value foreign currency forward contracts designated as hedging instruments, liabilities	0		0		446
Loss recognized in Other comprehensive (loss) income	(6,849)	(39,021)	(24,131)	(36,894)
(Loss) income recognized in Other (expenses) income, net	(16,064)	67	(21,303)	67
Forward contracts | Designated as Hedging Instrument | Other current assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts designated as hedging instruments, asset	0		0		3,489
Forward contracts | Designated as Hedging Instrument | Other assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts designated as hedging instruments, asset	0		0		11,704
Forward contracts | Designated as Hedging Instrument | Accrued expenses
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts designated as hedging instruments, liabilities	0		0		446
Forward contracts | Not Designated as Hedging Instrument
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, notional amount	7,000,000		7,000,000		7,100,000
Fair value foreign currency forward contracts not designated as hedging instruments, asset	237		237		2,636
Fair value foreign currency forward contracts not designated as hedging instruments, liabilities	15,427		15,427		5,306
Forward contracts | Not Designated as Hedging Instrument | Other current assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts not designated as hedging instruments, asset	237		237		2,636
Forward contracts | Not Designated as Hedging Instrument | Accrued expenses
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts not designated as hedging instruments, liabilities	8,892		8,892		$ 5,306
Forward contracts | Not Designated as Hedging Instrument | Other noncurrent liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts not designated as hedging instruments, liabilities	6,535		6,535
Forward contracts | Not Designated as Hedging Instrument | Other income, net
Fair Value, Option, Quantitative Disclosures [Line Items]
Income recognized in Other income, net	$ (20,534)	$ (59,241)	$ (7,559)	$ 184,166

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale debt securities	$ 304,507	$ 289,307
Investments under executive deferred compensation plan	35,367	33,564
Private equity securities	22,747	168,928
Private equity securities measured at net asset value	4,478	4,536
Foreign currency forward contracts, assets	237	17,829
Obligations under executive deferred compensation plan	35,367	33,564
Foreign currency forward contracts, liabilities	15,427	5,752
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at December 31, 2023	289,307
PIK dividends	26,827
Cash received for tax liability	(11,627)
Ending balance at September 30, 2024	304,507
Quoted Prices in Active Markets for Identical Items (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale debt securities	0	0
Investments under executive deferred compensation plan	35,367	33,564
Private equity securities	22,747	168,928
Private equity securities measured at net asset value	0	0
Foreign currency forward contracts, assets	0	0
Obligations under executive deferred compensation plan	35,367	33,564
Foreign currency forward contracts, liabilities	0	0
Quoted Prices in Active Markets for Similar Items (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale debt securities	0	0
Investments under executive deferred compensation plan	0	0
Private equity securities	0	0
Private equity securities measured at net asset value	0	0
Foreign currency forward contracts, assets	237	17,829
Obligations under executive deferred compensation plan	0	0
Foreign currency forward contracts, liabilities	15,427	5,752
Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale debt securities	304,507	289,307
Investments under executive deferred compensation plan	0	0
Private equity securities	0	0
Private equity securities measured at net asset value	0	0
Foreign currency forward contracts, assets	0	0
Obligations under executive deferred compensation plan	0	0
Foreign currency forward contracts, liabilities	$ 0	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Net sales	$ 1,354,692	$ 2,310,596	$ 4,145,813	$ 7,261,038
Other accounts receivable	268,696		268,696		$ 509,097
Unconsolidated Affiliates
Related Party Transaction [Line Items]
Net sales	11,618	4,070	13,803	14,843
Purchases from unconsolidated affiliates	187,117	$ 884,886	505,570	$ 3,072,374
Other accounts receivable	11,249		11,249		15,992
Accounts payable	$ 152,093		$ 152,093		$ 550,186

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of supplemental information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental Cash Flow Information [Abstract]
Capital expenditures included in Accounts payable	$ 297,222	$ 434,882
Common stock issued for annual incentive bonus plan	$ 11,545	$ 0
Common stock issued to employees	95,003

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
One Time Transition Tax, Reclassification	$ 82.7	$ 64.4