Rendering

Component: (Network and Table)
Network
2325301 - Disclosure - Segment and Geographic Area Information (Tables)
(http://www.albemarle.com/role/SegmentAndGeographicAreaInformationTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Segment Reporting [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Segment Reporting [Abstract]
 
Summarized Financial Information by Reportable Segments
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
(In thousands)
Net sales:
 
 
 
 
 
Lithium and Advanced Materials
$
968,216

 
$
834,590

 
$
312,788

Bromine Specialties
792,425

 
775,729

 
808,857

Refining Solutions
732,137

 
729,261

 
852,139

All Other
180,988

 
471,434

 
471,764

Corporate
3,437

 
15,415

 

Total net sales
$
2,677,203

 
$
2,826,429

 
$
2,445,548

 
 
 
 
 
 
Adjusted EBITDA:
 
 
 
 
 
Lithium and Advanced Materials
$
363,360

 
$
312,867

 
$
81,596

Bromine Specialties
226,926

 
222,653

 
224,976

Refining Solutions
238,963

 
197,595

 
256,485

All Other
14,772

 
53,993

 
73,973

Corporate
(85,804
)
 
(31,108
)
 
(74,875
)
Total adjusted EBITDA
$
758,217

 
$
756,000

 
$
562,155

See below for a reconciliation of adjusted EBITDA, the non-GAAP financial measure, to Net income (loss) attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with U.S. GAAP (in thousands):
 
Lithium and Advanced Materials
 
Bromine Specialties
 
Refining Solutions
 
Reportable Segments Total
 
All Other
 
Corporate
 
Consolidated Total
2016
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) attributable to Albemarle Corporation
$
261,394

 
$
187,364

 
$
202,874

 
$
651,632

 
$
131,301

 
$
(139,258
)
 
$
643,675

Depreciation and amortization
101,966

 
39,562

 
36,089

 
177,617

 
7,302

 
6,056

 
190,975

(Gain) loss on sales of businesses, net(a)

 

 

 

 
(123,831
)
 
1,533

 
(122,298
)
Acquisition and integration related costs(b)

 

 

 

 

 
57,384

 
57,384

Interest and financing expenses

 

 

 

 

 
65,181

 
65,181

Income tax expense

 

 

 

 

 
96,263

 
96,263

Income from discontinued operations (net of tax)

 

 

 

 

 
(202,131
)
 
(202,131
)
Non-operating pension and OPEB items

 

 

 

 

 
25,589

 
25,589

Other(c)

 

 

 

 

 
3,579

 
3,579

Adjusted EBITDA
$
363,360

 
$
226,926

 
$
238,963

 
$
829,249

 
$
14,772

 
$
(85,804
)
 
$
758,217

2015
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) attributable to Albemarle Corporation
$
148,821

 
$
186,474

 
$
161,585

 
$
496,880

 
$
32,781

 
$
(194,755
)
 
$
334,906

Depreciation and amortization
84,069

 
36,179

 
34,039

 
154,287

 
18,183

 
8,703

 
181,173

Utilization of inventory markup(d)
79,977

 

 

 
79,977

 
3,029

 

 
83,006

Restructuring and other, net(e)

 

 

 

 

 
(6,804
)
 
(6,804
)
Acquisition and integration related costs(b)

 

 

 

 

 
132,299

 
132,299

Interest and financing expenses

 

 

 

 

 
81,650

 
81,650

Income tax expense

 

 

 

 

 
11,134

 
11,134

Income from discontinued operations (net of tax)

 

 

 

 

 
(32,476
)
 
(32,476
)
Non-operating pension and OPEB items

 

 

 

 

 
(35,300
)
 
(35,300
)
Other(f)

 

 
1,971

 
1,971

 

 
4,441

 
6,412

Adjusted EBITDA
$
312,867

 
$
222,653

 
$
197,595

 
$
733,115

 
$
53,993

 
$
(31,108
)
 
$
756,000

2014
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) attributable to Albemarle Corporation
$
65,806

 
$
189,059

 
$
223,815

 
$
478,680

 
$
60,495

 
$
(405,859
)
 
$
133,316

Depreciation and amortization
15,790

 
35,917

 
32,670

 
84,377

 
13,478

 
2,552

 
100,407

Restructuring and other, net(e)

 

 

 

 

 
25,947

 
25,947

Acquisition and integration related costs(b)

 

 

 

 

 
30,158

 
30,158

Interest and financing expenses

 

 

 

 

 
41,358

 
41,358

Income tax expense

 

 

 

 

 
18,484

 
18,484

Loss from discontinued operations (net of tax)

 

 

 

 

 
69,531

 
69,531

Non-operating pension and OPEB items

 

 

 

 

 
125,462

 
125,462

Other(f)

 

 

 

 

 
17,492

 
17,492

Adjusted EBITDA
$
81,596

 
$
224,976

 
$
256,485

 
$
563,057

 
$
73,973

 
$
(74,875
)
 
$
562,155

(a)
See Note 3, “Divestitures,” for additional information.
(b)
See Note 2, “Acquisitions,” for additional information.
(c)
Includes amounts recorded in (1) Research and development expenses related to the write-off of fixed assets of $1.4 million; (2) Selling, general and administrative expenses related to the net loss on the sales of properties of $0.9 million and (3) Other income (expenses), net related to environmental charges related to a site formerly owned by Albemarle of $2.4 million, partially offset by a gain related to a previously disposed of site in China of $1.1 million.
(d)
In connection with the acquisition of Rockwood, the Company valued Rockwood’s existing inventory at fair value as of the Acquisition Closing Date, which resulted in a markup of the underlying net book value of the inventory totaling approximately $103.4 million. The inventory markup was expensed over the estimated remaining selling period. For the year ended December 31, 2015, $55.9 million was included in Cost of goods sold, and Equity in net income of unconsolidated investments was reduced by $27.1 million related to the utilization of the inventory markup.
(e)
See Note 21, “Restructuring and Other,” for additional information.
(f)
For the year ended December 31, 2015, Refining Solutions includes an impairment charge of approximately $2.0 million related to our unconsolidated investment in Fábrica Carioca de Catalisadores SA. For the years ended December 31, 2015 and 2014, Corporate includes approximately $4.4 million and $17.5 million, respectively, of financing-related fees expensed in connection with the acquisition of Rockwood.
 
As of December 31,
 
2016
 
2015
 
2014
 
 
 
(In thousands)
 
 
Identifiable assets:
 
 
 
 
 
Lithium and Advanced Materials
$
3,809,883

 
$
3,658,669

 
$
351,175

Bromine Specialties
724,218

 
699,929

 
734,071

Refining Solutions
913,923

 
937,445

 
1,100,361

Discontinued Operations

 
3,208,902

 

All Other
130,595

 
517,695

 
268,555

Corporate(a)
2,582,588

 
575,314

 
2,748,275

Total identifiable assets
$
8,161,207

 
$
9,597,954

 
$
5,202,437

Goodwill:
 
 
 
 
 
Lithium and Advanced Materials
$
1,348,261

 
$
1,267,505

 
$
21,697

Bromine Specialties
20,319

 
20,319

 
20,319

Refining Solutions
164,866

 
172,728

 
192,657

All Other
6,586

 

 
8,589

Total goodwill
$
1,540,032

 
$
1,460,552

 
$
243,262


(a)
As of December 31, 2016, Corporate included the net proceeds received from the sale of the Chemetall Surface Treatment business completed on December 14, 2016, less the repayment of the term loans and commercial paper using those proceeds. As of December 31, 2014, Corporate included net proceeds received from the issuance of the 2014 Senior Notes, which, together with borrowings from our Commercial Paper Notes, August 2014 Term Loan Agreement and Cash Bridge Facility, were used to finance the cash portion of the Merger Consideration, pay related fees and expenses and repay our senior notes which matured on February 1, 2015. See Note 2, “Acquisitions,” Note 3, “Divestitures,” and Note 14, “Long-Term Debt” for additional details about these transactions.
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
 
 
(In thousands)
 
 
Depreciation and amortization:
 
 
 
 
 
Lithium and Advanced Materials
$
101,966

 
$
84,069

 
$
15,790

Bromine Specialties
39,562

 
36,179

 
35,917

Refining Solutions
36,089

 
34,039

 
32,670

Discontinued Operations
35,194

 
78,903

 
3,165

All Other
7,302

 
18,183

 
13,478

Corporate
6,056

 
8,703

 
2,552

Total depreciation and amortization
$
226,169

 
$
260,076

 
$
103,572

Capital expenditures:
 
 
 
 
 
Lithium and Advanced Materials
$
91,967

 
$
104,344

 
$
12,888

Bromine Specialties
46,414

 
54,994

 
39,392

Refining Solutions
27,546

 
28,836

 
49,219

Discontinued Operations
19,281

 
23,738

 

All Other
9,251

 
13,054

 
9,053

Corporate
2,195

 
2,683

 
24

Total capital expenditures
$
196,654

 
$
227,649

 
$
110,576



 
 
Net Sales by Geographic Area
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
 
 
(In thousands)
 
 
Net Sales:
 
 
 
 
 
United States
$
797,267

 
$
911,519

 
$
884,373

Foreign(a)
1,879,936

 
1,914,910

 
1,561,175

Total
$
2,677,203

 
$
2,826,429

 
$
2,445,548


(a)
In 2016, net sales to China represented 13% of total net sales. No net sales in any other foreign country exceed 10% of total net sales. Also, net sales are attributed to countries based upon shipments to final destination.
 
 
Long-Lived Assets by Geographic Area
 
As of December 31,
 
2016
 
2015
 
2014
 
 
 
(In thousands)
 
 
Long-Lived Assets:
 
 
 
 
 
United States
$
850,689

 
$
800,214

 
$
698,863

Chile
922,878

 
916,965

 

Netherlands
145,917

 
155,128

 
167,965

Jordan
227,222

 
230,460

 
227,805

Australia
288,553

 
280,222

 

Brazil
46,380

 
39,299

 
59,474

Germany
117,027

 
137,890

 
75,813

China
31,564

 
4,773

 
5,310

France
39,470

 
39,344

 
37,347

Korea
65,963

 
72,685

 
80,362

United Kingdom
3,665

 
3,665

 
3,665

Other foreign countries
54,271

 
55,234

 
48,819

Total
$
2,793,599

 
$
2,735,879

 
$
1,405,423

 
 
Net Sales to External Customers by Product Category
Net sales to external customers by product category in each of the segments consists of the following:
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
 
 
(In thousands)
 
 
Lithium and Advanced Materials:
 
 
 
 
 
Lithium
$
668,852

 
$
508,844

 
$

Performance Catalyst Solutions
299,364

 
325,746

 
312,788

Total Lithium and Advanced Materials
$
968,216

 
$
834,590

 
$
312,788

 
 
 
 
 
 
Bromine Specialties
$
792,425

 
$
775,729

 
$
808,857

 
 
 
 
 
 
Refining Solutions
$
732,137

 
$
729,261

 
$
852,139