ALB Albemarle Corporation

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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 June 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 six-month periods ended June 30, 2024 and 2023 and our condensed consolidated statements of cash flows for the six-month periods ended June 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 six-month periods ended June 30, 2024 are not necessarily indicative of the results to be expected for the full year.

The following table provides a breakdown of inventories at June 30, 2024 and December 31, 2023 (in thousands):

			June 30,						December 31,
			2024						2023
Finished goods			$	1,203,222					$	1,624,893
Raw materials and work in process(a)			448,372						401,050
Stores, supplies and other			148,520						135,344
Total(b)			$	1,800,114					$	2,161,287

(a)Includes $274.3 million and $213.4 million at June 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 $237.7 million and $559.6 million at June 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.

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.

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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 six-month periods ended June 30, 2024 and 2023 (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Windfield			$	278,995					$	545,943					$	451,674					$	933,242
Other joint ventures			7,883						5,108						15,704						13,997
Total			$	286,878					$	551,051					$	467,378					$	947,239

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 $626.7 million and $712.0 million at June 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 six-month periods ended June 30, 2024 and 2023 (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Net sales			$	541,982					$	2,319,020					$	731,991					$	4,278,318
Gross profit			391,610						2,244,236						541,592						4,145,936
Income before income taxes			326,322						2,151,879						420,952						3,936,029
Net income			226,689						1,506,326						293,100						2,755,228

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 income, net in our consolidated statements of (loss) income. During the six-month period ended June 30, 2023, the Company purchased approximately $121.9 million of shares in publicly-traded companies. In addition, during the three-month and six-month periods ended June 30, 2024, the Company recorded unrealized mark-to-market losses of $17.8 million and $27.2 million, respectively, in Other income, net for all public equity securities held at the end of the balance sheet date. During the three-month and six-month periods ended June 30, 2023, the Company recorded unrealized mark-to-market gains of $15.0 million and $60.8 million, respectively, in Other 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 six months ended June 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

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accumulated balance reaches 200% of the original value. This preferred equity had a fair value of $297.8 million and $289.3 million at June 30, 2024 and December 31, 2023, respectively, which is reported in Investments in the consolidated balance sheets.

The following table summarizes the changes in goodwill by reportable segment for the six-month period ended June 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			(22,719)						(51)						(6,021)												(28,791)
Balance at June 30, 2024(a)			$	1,401,765					$	32,588					$	166,585											$	1,600,938

(a)    Balance at June 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 June 30, 2024 and December 31, 2023 fully consists of goodwill related to the Refining Solutions reporting unit.

The following table summarizes the changes in other intangibles and related accumulated amortization for the six-month period ended June 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			(11,338)						(264)						(745)						(769)						(13,116)
Balance at June 30, 2024			$	406,465					$	10,832					$	31,036					$	29,471					$	477,804
Accumulated Amortization
Balance at December 31, 2023			$	(204,481)					$	(3,673)					$	(26,758)					$	(15,374)					$	(250,286)
Amortization			(9,877)						—						(1,276)						(452)						(11,605)
Retirements			—						2,309						14,506						4,409						21,224
Foreign currency translation adjustments and other			5,409						40						453						296						6,198
Balance at June 30, 2024			$	(208,949)					$	(1,324)					$	(13,075)					$	(11,121)					$	(234,469)
Net Book Value at December 31, 2023			$	213,322					$	9,732					$	19,529					$	19,275					$	261,858
Net Book Value at June 30, 2024			$	197,516					$	9,508					$	17,961					$	18,350					$	243,335

(a)    Net Book Value includes only indefinite-lived intangible assets.

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Long-term debt at June 30, 2024 and December 31, 2023 consisted of the following (in thousands):

			June 30,						December 31,
			2024						2023
1.125% notes due 2025			$	402,661					$	416,501
1.625% notes due 2028			533,850						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			26,832						30,197
Finance lease obligations			113,100						110,245
Other			22,000						22,000
Unamortized discount and debt issuance costs			(97,338)						(105,992)
Total long-term debt			3,522,717						4,166,763
Less amounts due within one year			3,213						625,761
Long-term debt, less current portion			$	3,519,504					$	3,541,002

During the six months ended June 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 7, “Equity,” for additional information.

Given the economic conditions, specifically around the market pricing of lithium, and the related anticipated impact on the Company’s future earnings, on February 9, 2024 we amended our revolving, unsecured amended and restated credit agreement dated October 28, 2022 (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 1.125% as of June 30, 2024. There were no borrowings outstanding under the 2022 Credit Agreement as of June 30, 2024.

Borrowings under the 2022 Credit Agreement are conditioned upon satisfaction of certain customary conditions precedent, including the absence of defaults. The February 2024 amendment was entered into to modify the financial covenants under the 2022 Credit Agreement to avoid a potential covenant violation over the following 18 months given the market pricing of lithium. Following the February 2024 amendment, the 2022 Credit Agreement subjects the Company to two financial covenants, as well as customary affirmative and negative covenants. The first financial covenant requires that the ratio of (a) the Company’s consolidated net funded debt plus a proportionate amount of Windfield’s net funded debt to (b) consolidated Windfield-Adjusted EBITDA (as such terms are defined in the 2022 Credit Agreement) be less than or equal to (i) 3.50:1 prior to the second quarter of 2024, (ii) 5.00:1 for the second quarter of 2024, (iii) 5.50:1 for the third quarter of 2024, (iv) 4.00:1 for the fourth quarter of 2024, (v) 3.75:1 for the first and second quarters of 2025 and (vi) 3.50:1 after the second quarter of 2025. 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, 2025 if the consideration includes cash proceeds from issuance of funded debt in excess of $500 million.

The second financial covenant requires that, beginning in 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 2.00:1 for fiscal quarters through June 30, 2025, and no less than 3.00:1 for all fiscal quarters thereafter. The 2022 Credit

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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 in the near future. However, 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.

Environmental

The following activity was recorded in environmental liabilities for the six months ended June 30, 2024 (in thousands):

Beginning balance at December 31, 2023			$	34,149
Expenditures			(1,060)
Accretion of discount			576
Liability releases			(2,570)
Foreign currency translation adjustments and other			54
Ending balance at June 30, 2024			31,149
Less amounts reported in Accrued expenses			6,694
Amounts reported in Other noncurrent liabilities			$	24,455

Environmental remediation liabilities included discounted liabilities of $25.2 million and $27.4 million at June 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 $52.0 million and $55.4 million at June 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 $48 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.

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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 $12.0 million and $14.5 million at June 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 on product delivery and performance according to customer specifications that can cover both shipments on an individual basis, as well as blanket coverage of multiple shipments under certain customer supply contracts. The financial coverage provided by these guarantees is typically based on a percentage of net sales value. 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 June 30, 2024, the Company believes its liability under such obligations is immaterial.

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 May 7, 2024, the Company’s board of directors declared a cash dividend of $0.40 per share. This dividend was paid on July 1, 2024 to shareholders of record at the close of business as of June 14, 2024. On July 16, 2024, the Company’s board of directors declared a cash dividend of $0.405 per share, which is payable on October 1, 2024 to shareholders of record at the close of business as of September 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 growth capital expenditures, such as the construction and expansion of lithium operations in Australia and China that are significantly progressed or near completion, 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. The first dividend was paid in June 2024 at $17.12 per share of Mandatory Convertible

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Preferred Stock. 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 June 30, 2024.

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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 June 30, 2024																		Three Months Ended June 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			$	(586,620)																	$	(10,585)																	$	(597,205)					$	(516,662)					$	3,325					$	(513,337)
Other comprehensive (loss) income before reclassifications			(46,767)																		4,060																		(42,707)						(5,652)						1,026						(4,626)
Amounts reclassified from accumulated other comprehensive loss			16																		2,557																		2,573						17						—						17
Other comprehensive (loss) income, net of tax			(46,751)																		6,617																		(40,134)						(5,635)						1,026						(4,609)
Other comprehensive income attributable to noncontrolling interests			(212)																		—																		(212)						—						—						—
Balance, end of period			$	(633,583)																	$	(3,968)																	$	(637,551)					$	(522,297)					$	4,351					$	(517,946)
			Six Months Ended June 30, 2024																		Six Months Ended June 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 (loss) income before reclassifications			(97,004)																		(17,282)																		(114,286)						40,548						2,127						42,675
Amounts reclassified from accumulated other comprehensive loss			33																		5,239																		5,272						33						—						33
Other comprehensive (loss) income, net of tax			(96,971)																		(12,043)																		(109,014)						40,581						2,127						42,708
Other comprehensive (income) loss attributable to noncontrolling interests			(11)																		—																		(11)						8						—						8
Balance, end of period			$	(633,583)																	$	(3,968)																	$	(637,551)					$	(522,297)					$	4,351					$	(517,946)

(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. See Note 14, “Fair Value of Financial Instruments,” for additional information.

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The amount of income tax (expense) benefit allocated to each component of Other comprehensive (loss) income for the three-month and six-month periods ended June 30, 2024 and 2023 is provided in the following tables (in thousands):

			Three Months Ended June 30, 2024																		Three Months Ended June 30, 2023
			Foreign Currency Translation and Other																		Cash Flow Hedge												Total						Foreign Currency Translation and Other						Cash Flow Hedge						Total
Other comprehensive (loss) income, before tax			$	(46,747)																	$	9,453											$	(37,294)					$	(5,631)					$	1,026					$	(4,605)
Income tax expense			(4)																		(2,836)												(2,840)						(4)						—						(4)
Other comprehensive (loss) income, net of tax			$	(46,751)																	$	6,617											$	(40,134)					$	(5,635)					$	1,026					$	(4,609)
			Six Months Ended June 30, 2024																		Six Months Ended June 30, 2023
			Foreign Currency Translation and Other																		Cash Flow Hedge												Total						Foreign Currency Translation and Other						Cash Flow Hedge						Total
Other comprehensive (loss) income, before tax			$	(96,964)																	$	(17,204)											$	(114,168)					$	40,347					$	2,127					$	42,474
Income tax (expense) benefit			(7)																		5,161												5,154						234						—						234
Other comprehensive (loss) income, net of tax			$	(96,971)																	$	(12,043)											$	(109,014)					$	40,581					$	2,127					$	42,708

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. During the second quarter of 2024, the Company indefinitely suspended construction of the fourth train at its Kemerton conversion plant in Western Australia, 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. This resulted in charges of $292.3 million and $309.5 million recorded in Operating (loss) profit for the three-month and six-month periods ended June 30, 2024, respectively, and losses of $2.6 million and $5.4 million recorded in Other income, net for the three-month and six-month periods ended June 30, 2024, respectively.

The Company evaluated the significance of the fourth train at its Kemerton conversion plant in relation to the overall asset group and deemed it to be insignificant. Despite the insignificance of the Kemerton conversion plant to the asset group, the Company elected to evaluate the recoverability of its property, plant and equipment within the corresponding asset group as of June 30, 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 second quarter of 2024.

In addition, as part of the Company’s continuing plan to optimize its cost structure, the Company recorded severance costs of $2.5 million and $18.9 million during the three-month and six-month periods ended June 30, 2024, respectively, for employees in Corporate and each of the businesses. These expenses were recorded in Selling, general and administrative expenses (“SG&A”) and have primarily been paid, with the remainder expected to be paid in 2024. During the three-month and six-month periods ended June 30, 2023, $7.4 million of severance costs in the Ketjen business were recorded in SG&A.

Subsequent Event

In July 2024, the Company announced a comprehensive review of its cost and operating structure to maintain a competitive position, further generate long-term financial flexibility and drive long-term value creation. As part of this review, the Company concluded to stop construction of the third train at its Kemerton conversion plant. The Company also announced that it will put the second train at the Kemerton conversion plant into care and maintenance. As a result, the Company expects

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to record a charge in the third quarter of 2024 in the range of approximately $0.9 billion to $1.1 billion, of which approximately $725 million to $800 million consists of the expected write-off of the carrying value of the Kemerton Train 3 assets less any salvage value, with the remainder related to contract cancellation, severance, decommissioning, demolition and other associated restructuring costs for both Kemerton Trains 2 and 3. The Company’s estimated range of the charge takes into account initial estimates for these activities and the determination of salvage value of the fixed assets, among other variables. The restructuring actions associated with these charges are expected to be substantially complete in 2024. The first train of Kemerton will continue to operate and activity around it is currently focused on commercialization efforts.

As a result of the actions taken at Kemerton Train 3 and Train 2 in the third quarter of 2024, there is a reasonable possibility within the next 12 months the Company may reach a conclusion a valuation allowance will be needed.

The components of pension and postretirement benefits cost (credit) for the three-month and six-month periods ended June 30, 2024 and 2023 were as follows (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Pension Benefits Cost (Credit):
Service cost			$	1,563					$	1,334					$	3,129					$	2,655
Interest cost			8,140						8,558						16,285						17,100
Expected return on assets			(8,838)						(8,415)						(17,668)						(16,824)
Amortization of prior service benefit			19						21						39						41
Total net pension benefits cost			$	884					$	1,498					$	1,785					$	2,972
Postretirement Benefits Cost:
Service cost			$	11					$	12					$	23					$	24
Interest cost			361						469						721						937
Total net postretirement benefits cost			$	372					$	481					$	744					$	961
Total net pension and postretirement benefits cost			$	1,256					$	1,979					$	2,529					$	3,933

All components of net benefit cost, other than service cost, are included in Other income, net on the consolidated statements of (loss) income.

During the three-month and six-month periods ended June 30, 2024, the Company made contributions of $4.6 million and $9.4 million, respectively, to its qualified and nonqualified pension plans and the U.S. postretirement benefit plan. During the three-month and six-month periods ended June 30, 2023, the Company made contributions of $5.8 million and $8.6 million, respectively, to its qualified and nonqualified pension plans and the U.S. postretirement benefit plan.

The effective income tax rates for the three-month and six-month periods ended June 30, 2024 were 6.2% and 5.2%, respectively, compared to 25.5% and 24.1% for the three-month and six-month periods ended June 30, 2023, respectively. The three-month and six-month periods ended June 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 six-month periods ended June 30, 2024, compared to the three-month and six-month periods ended June 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 six-month periods ended June 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 and the valuation allowance for losses in 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 six-month periods ended June 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, and 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”).

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Basic and diluted (loss) earnings per share for the three-month and six-month periods ended June 30, 2024 and 2023 are calculated as follows (in thousands, except per share amounts):

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Basic (loss) earnings per share
Numerator:
Net (loss) income attributable to Albemarle Corporation			$	(188,198)					$	650,043					$	(185,750)					$	1,888,623
Mandatory convertible preferred stock dividends			(41,688)						—						(53,272)						—
Net (loss) income attributable to Albemarle Corporation common shareholders			$	(229,886)					$	650,043					$	(239,022)					$	1,888,623
Denominator:
Weighted-average common shares for basic (loss) earnings per share			117,528						117,332						117,489						117,282
Basic (loss) earnings per share			$	(1.96)					$	5.54					$	(2.03)					$	16.10
Diluted (loss) earnings per share
Numerator:
Net (loss) income attributable to Albemarle Corporation			$	(188,198)					$	650,043					$	(185,750)					$	1,888,623
Mandatory convertible preferred stock dividends			(41,688)						—						(53,272)						—
Net (loss) income attributable to Albemarle Corporation common shareholders			$	(229,886)					$	650,043					$	(239,022)					$	1,888,623
Denominator:
Weighted-average common shares for basic (loss) earnings per share			117,528						117,332						117,489						117,282
Incremental shares under stock compensation plans			—						437						—						523
Weighted-average common shares for diluted (loss) earnings per share			117,528						117,769						117,489						117,805
Diluted (loss) earnings per share			$	(1.96)					$	5.52					$	(2.03)					$	16.03

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 June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Shares assuming the conversion of the mandatory convertible preferred stock			19,411						—						12,841						—
Shares under the stock compensation plans			1,140						51						1,018						36

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.

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The following table provides details of our lease contracts for the three-month and six-month periods ended June 30, 2024 and 2023 (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Operating lease cost			$	9,572					$	14,311					$	19,118					$	26,062
Finance lease cost:
Amortization of right of use assets			2,357						1,935						3,665						2,780
Interest on lease liabilities			1,742						1,635						3,201						2,694
Total finance lease cost			4,099						3,570						6,866						5,474
Short-term lease cost			8,786						4,860						14,804						9,920
Variable lease cost			9,215						4,766						17,012						8,275
Total lease cost			$	31,672					$	27,507					$	57,800					$	49,731

Supplemental cash flow information related to our lease contracts for the six-month periods ended June 30, 2024 and 2023 is as follows (in thousands):

			Six Months Ended June 30,
			2024						2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$	18,022					$	24,816
Operating cash flows from finance leases			6,318						2,400
Financing cash flows from finance leases			2,722						1,081
Right-of-use assets obtained in exchange for lease obligations:
Operating leases			9,449						30,581
Finance leases			6,200						46,773

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Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at June 30, 2024 and December 31, 2023 is as follows (in thousands, except as noted):

			June 30, 2024						December 31, 2023
Operating leases:
Other assets			$	129,486					$	137,405
Accrued expenses			28,368						30,583
Other noncurrent liabilities			108,404						113,681
Total operating lease liabilities			136,772						144,264
Finance leases:
Net property, plant and equipment			114,509						112,438
Current portion of long-term debt(a)			6,697						9,702
Long-term debt			109,887						104,484
Total finance lease liabilities			116,584						114,186
Weighted average remaining lease term (in years):
Operating leases			12.7						12.2
Finance leases			20.6						20.7
Weighted average discount rate (%):
Operating leases			4.66		%				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 June 30, 2024 were as follows (in thousands):

			Operating Leases						Finance Leases
Remainder of 2024			$	16,362					$	5,690
2025			30,762						10,739
2026			22,355						10,098
2027			17,011						10,098
2028			12,382						10,098
Thereafter			108,091						141,265
Total lease payments			206,963						187,988
Less imputed interest			70,191						71,404
Total			$	136,772					$	116,584

The Company’s three reportable segments include: (1) Energy Storage; (2) Specialties; and (3) Ketjen. Each segment has a dedicated team of sales, research and development, process engineering, manufacturing and sourcing, and business strategy personnel and has full accountability for improving execution through greater asset and market focus, agility and responsiveness. This business structure aligns with the markets and customers we serve through each of the segments. This structure also facilitates the continued standardization of business processes across the organization, and is consistent with the manner in which information is presently used internally by the Company’s chief operating decision maker to evaluate performance and make resource allocation decisions.

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

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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 February 2024 amendment to the 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 six-month periods ended June 30, 2024 and 2023 were as follows (in thousands).

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Net sales:
Energy Storage			$	830,110					$	1,763,065					$	1,631,008					$	3,706,747
Specialties			334,600						371,302						650,665						790,080
Ketjen			265,675						235,823						509,448						453,615
Total net sales			$	1,430,385					$	2,370,190					$	2,791,121					$	4,950,442
Adjusted EBITDA:
Energy Storage			$	282,979					$	1,165,080					$	480,975					$	2,732,772
Specialties			54,175						60,200						99,356						222,358
Ketjen			37,836						42,882						59,815						57,425
Total segment adjusted EBITDA			$	374,990					$	1,268,162					$	640,146					$	3,012,555
Depreciation and amortization:
Energy Storage			$	100,433					$	56,540					$	187,707					$	108,702
Specialties			23,170						21,299						45,607						41,191
Ketjen			12,937						13,084						25,294						26,227
Total segment depreciation and amortization			136,540						90,923						258,608						176,120
Corporate			1,739						2,162						3,422						4,236
Total depreciation and amortization			$	138,279					$	93,085					$	262,030					$	180,356

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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 June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Total segment adjusted EBITDA			$	374,990					$	1,268,162					$	640,146					$	3,012,555
Corporate expenses, net			11,370						(1,920)						37,450						15,391
Depreciation and amortization			(138,279)						(93,085)						(262,030)						(180,356)
Interest and financing expenses			(35,187)						(25,577)						(73,156)						(52,354)
Income tax benefit (expense)			30,660						(42,987)						34,381						(319,950)
Proportionate share of Windfield income tax expense(a)			(119,780)						(233,976)						(193,469)						(399,961)
Acquisition and integration related costs(b)			(1,581)						(6,502)						(3,488)						(11,610)
Restructuring and other charges(c)			(2,525)						(7,439)						(18,861)						(7,439)
Capital project assets write-off(c)			(294,940)						—						(314,889)						—
Non-operating pension and OPEB items			337						(612)						662						(1,213)
(Loss) gain in fair value of public equity securities(d)			(17,780)						15,020						(60,939)						60,846
Legal accrual(e)			—						(218,510)						—						(218,510)
Other(f)			4,517						(2,531)						28,443						(8,776)
Net (loss) income attributable to Albemarle Corporation			$	(188,198)					$	650,043					$	(185,750)					$	1,888,623

(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 8, “Restructuring and Capital Project Assets Write-off,” for further details.

(d)Loss of $17.8 million and $27.2 million recorded in Other income, net for the three and six months ended June 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 income, net for the six months ended June 30, 2024 resulting from the sale of investments in public equity securities. Gain of $15.0 million and $60.8 million recorded in Other income, net for the three and six months ended June 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 June 30, 2024 recorded in:

•SG&A - $5.1 million of expenses related to certain historical legal and environmental matters.

•Other income, net - $8.9 million of income from PIK dividends of preferred equity in a Grace subsidiary and a $0.6 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations.

Included amounts for the three months ended June 30, 2023 recorded in:

•SG&A - $0.7 million of facility closure expenses related to offices in Germany and $0.6 million primarily related to shortfall contributions for a multiemployer plan financial improvement plan.

•Other income, net - $3.9 million of a loss resulting from the adjustment of indemnification related to previously disposed businesses, partially offset by a $2.7 million gain in the fair value of preferred equity of a Grace subsidiary.

Included amounts for the six months ended June 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 - $5.2 million of expenses related to certain historical legal and environmental matters.

•Other income, net - $17.6 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 $2.4 million gain primarily resulting from the adjustment of indemnification related to a previously disposed business and a $0.6 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations, partially offset by $2.9 million of charges for asset retirement obligations at a site not part of our operations.

Included amounts for the six months ended June 30, 2023 recorded in:

•SG&A - $1.9 million of charges primarily for environmental reserves at sites not part of our operations, $1.4 million of facility closure expenses related to offices in Germany and $0.6 million primarily related to shortfall contributions for a multiemployer plan financial improvement plan.

•Other income, net - $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, partially offset by a $2.7 million gain in the fair value of preferred equity of a Grace subsidiary.

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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.

			June 30, 2024												December 31, 2023
			Recorded Amount						Fair Value						Recorded Amount						Fair Value
			(In thousands)
Long-term debt			$	3,540,851					$	3,342,861					$	4,186,532					$	4,021,693

Foreign Currency Forward Contracts—during the fourth quarter of 2019, we entered into a foreign currency forward contract to hedge the cash flow exposure of non-functional currency purchases during the construction of the Kemerton plant in Australia. This derivative financial instrument is used to manage risk and is not used for trading or other speculative purposes. This foreign currency forward contract has been designated as a hedging instrument under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging. We had outstanding designated foreign currency forward contracts with notional values totaling the equivalent of $839.3 million and $994.5 million at June 30, 2024 and December 31, 2023, respectively.

We also enter into foreign currency forward contracts in connection with our risk management strategies that have not been designated as hedging instruments under ASC 815, Derivatives and Hedging, in an attempt to minimize the financial impact of changes in foreign currency exchange rates. These derivative financial instruments are used to manage risk and are not used for trading or other speculative purposes. The fair values of our non-designated foreign currency forward contracts are estimated based on current settlement values. At June 30, 2024 and December 31, 2023, we had outstanding non-designated foreign currency forward contracts with notional values totaling $5.9 billion and $7.1 billion, respectively, hedging our exposure to various currencies including the Chinese Renminbi, Euro, Australian Dollar and Chilean Peso.

The following table summarizes the fair value of our foreign currency forward contracts included in the consolidated balance sheets as of June 30, 2024 and December 31, 2023 (in thousands):

			June 30, 2024												December 31, 2023
			Assets						Liabilities						Assets						Liabilities
Designated as hedging instruments
Other current assets			$	—					$	—					$	3,489					$	—
Other assets			—						—						11,704						—
Accrued expenses			—						1,250						—						446
Other noncurrent liabilities			—						888						—						—
Total designated as hedging instruments			—						2,138						15,193						446
Not designated as hedging instruments
Other current assets			1,036						—						2,636						—
Other assets			12						—						—						—
Accrued expenses			—						2,686						—						5,306
Other noncurrent liabilities			—						2,686						—						—
Total not designated as hedging instruments			1,048						5,372						2,636						5,306
Total			$	1,048					$	7,510					$	17,829					$	5,752

The following table summarizes the net gains (losses) recognized for our foreign currency forward contracts during the three-month and six-month periods ended June 30, 2024 and 2023 (in thousands):

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			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Designated as hedging instruments
Income (loss) recognized in Other comprehensive (loss) income			$	4,060					$	1,026					$	(17,282)					$	2,127
Loss recognized in Other income, net			$	(2,557)					$	—					$	(5,239)					$	—
Not designated as hedging instruments
(Loss) income recognized in Other income, net(a)			$	(1,847)					$	208,174					$	12,975					$	243,407

(a)    Fluctuations in the value of our foreign currency forward contracts not designated as hedging instruments are generally expected to be offset by changes in the value of the underlying exposures being hedged, which are also reported in Other income, net.

In addition, for the six-month periods ended June 30, 2024 and 2023, we recorded net cash receipts of $11.2 million and $224.2 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 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

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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 June 30, 2024 and December 31, 2023 (in thousands):

			June 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)			$	297,761					$	—					$	—					$	297,761
Investments under executive deferred compensation plan(b)			$	34,663					$	34,663					$	—					$	—
Public equity securities(c)			$	27,730					$	27,730					$	—					$	—
Private equity securities measured at net asset value(d)(e)			$	4,534					$	—					$	—					$	—
Foreign currency forward contracts(f)			$	1,048					$	—					$	1,048					$	—
Liabilities:
Obligations under executive deferred compensation plan(b)			$	34,663					$	34,663					$	—					$	—
Foreign currency forward contracts(f)			$	7,510					$	—					$	7,510					$	—

			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					$	—					$	—					$	—
Foreign currency forward contracts(f)			$	17,829					$	—					$	17,829					$	—
Liabilities:
Obligations under executive deferred compensation plan(b)			$	33,564					$	33,564					$	—					$	—
Foreign currency forward contracts(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 reported in Other income, net in our consolidated statements of (loss) income. See Note 3, “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 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)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

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contracts are valued using broker quotations or market transactions in either the listed or over-the-counter markets. As such, these derivative instruments are classified within Level 2. See Note 14, “Fair Value of Financial Instruments,” for further details about our foreign currency forward contracts.

The following tables set forth the reconciliation of the beginning and ending balance for the Level 3 recurring fair value measurements (in thousands):

			Available for Sale Debt Securities
Beginning balance at December 31, 2023			$	289,307
PIK dividends			17,619
Cash received for tax liability			(9,165)
Ending balance at June 30, 2024			$	297,761

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 June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Sales to unconsolidated affiliates			$	227					$	3,673					$	2,185					$	10,773
Purchases from unconsolidated affiliates(a)			$	181,256					$	1,114,944					$	318,453					$	2,187,488

(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):

			June 30, 2024						December 31, 2023
Receivables from unconsolidated affiliates			$	915					$	15,992
Payables to unconsolidated affiliates(a)			$	184,198					$	550,186

(a)Payables to unconsolidated affiliates primarily relate to spodumene purchased from the Company’s Windfield joint venture under normal payment terms.

Supplemental information related to the condensed consolidated statements of cash flows is as follows (in thousands):

			Six Months Ended June 30,
			2024						2023
Supplemental non-cash disclosure related to investing and financing activities:
Capital expenditures included in Accounts payable			$	320,773					$	408,998
Common stock issued for annual incentive bonus plan(a)			11,545						—

(a)During the six-month period ended June 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 six-month periods ended June 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.

---

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.

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v3.24.2

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 24, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 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		117,533,235
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
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

v3.24.2

Consolidated Statements of (Loss) Income - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net sales		$ 1,430,385	$ 2,370,190	$ 2,791,121	$ 4,950,442
Cost of goods sold	[1]	1,440,963	1,811,703	2,762,761	3,115,415
Gross (loss) profit		(10,578)	558,487	28,360	1,835,027
Selling, general and administrative expenses		168,948	397,070	346,660	551,376
Capital project assets write-off		292,315	0	309,515	0
Research and development expenses		20,770	21,419	44,302	41,890
Operating (loss) profit		(492,611)	139,998	(672,117)	1,241,761
Interest and financing expenses		(35,187)	(25,577)	(73,156)	(52,354)
Other income, net		33,666	53,954	83,567	136,446
(Loss) income before income taxes and equity in net income of unconsolidated investments		(494,132)	168,375	(661,706)	1,325,853
Income tax (benefit) expense		(30,660)	42,987	(34,381)	319,950
(Loss) income before equity in net income of unconsolidated investments		(463,472)	125,388	(627,325)	1,005,903
Equity in net income of unconsolidated investments (net of tax)		286,878	551,051	467,378	947,239
Net (loss) income		(176,594)	676,439	(159,947)	1,953,142
Net income attributable to noncontrolling interests		(11,604)	(26,396)	(25,803)	(64,519)
Net (loss) income attributable to Albemarle Corporation		(188,198)	650,043	(185,750)	1,888,623
Mandatory convertible preferred stock dividends		(41,688)	0	(53,272)	0
Net (loss) income attributable to Albemarle Corporation common shareholders		$ (229,886)	$ 650,043	$ (239,022)	$ 1,888,623
Basic (loss) earnings per share attributable to common shareholders (in dollars per share)		$ (1.96)	$ 5.54	$ (2.03)	$ 16.10
Diluted (loss) earnings per share attributable to common shareholders (in dollars per share)		$ (1.96)	$ 5.52	$ (2.03)	$ 16.03
Weighted-average common shares outstanding - basic (in shares)		117,528	117,332	117,489	117,282
Weighted-average common shares outstanding - diluted (in shares)		117,528	117,769	117,489	117,805
[1] Included purchases from related unconsolidated affiliates of $582.2 million and $421.0 million for the three-month periods ended June 30, 2024 and 2023, respectively, and $1.1 billion and $774.2 million for the six-month periods ended June 30, 2024 and 2023, respectively.

v3.24.2

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (176,594)	$ 676,439	$ (159,947)	$ 1,953,142
Other comprehensive (loss) income, net of tax:
Foreign currency translation and other	(46,751)	(5,635)	(96,971)	40,581
Cash flow hedge	6,617	1,026	(12,043)	2,127
Total other comprehensive (loss) income, net of tax	(40,134)	(4,609)	(109,014)	42,708
Comprehensive (loss) income	(216,728)	671,830	(268,961)	1,995,850
Comprehensive income attributable to noncontrolling interests	(11,816)	(26,396)	(25,814)	(64,511)
Comprehensive (loss) income attributable to Albemarle Corporation	$ (228,544)	$ 645,434	$ (294,775)	$ 1,931,339

v3.24.2

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,830,227	$ 889,900
Trade accounts receivable, less allowance for doubtful accounts (2024 – $2,762; 2023 – $2,808)	785,553	1,213,160
Other accounts receivable	412,181	509,097
Inventories	1,800,114	2,161,287
Other current assets	397,630	443,475
Total current assets	5,225,705	5,216,919
Property, plant and equipment, at cost	12,788,646	12,233,757
Less accumulated depreciation and amortization	2,951,614	2,738,553
Net property, plant and equipment	9,837,032	9,495,204
Investments	1,160,674	1,369,855
Other assets	320,598	297,087
Goodwill	1,600,938	1,629,729
Other intangibles, net of amortization	243,335	261,858
Total assets	18,388,282	18,270,652
Current liabilities:
Accrued expenses	508,334	544,835
Current portion of long-term debt	3,213	625,761
Dividends payable	60,668	46,666
Income taxes payable	63,070	255,155
Total current liabilities	1,958,458	3,560,462
Long-term debt	3,519,504	3,541,002
Postretirement benefits	25,925	26,247
Pension benefits	141,627	150,312
Other noncurrent liabilities	758,283	769,100
Deferred income taxes	501,330	558,430
Commitments and contingencies (Note 6)
Albemarle Corporation shareholders’ equity:
Common stock, $.01 par value, authorized – 275,000, issued and outstanding – 117,528 in 2024 and 117,356 in 2023	1,175	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	2,969,851	2,952,517
Accumulated other comprehensive loss	(637,551)	(528,526)
Retained earnings	6,653,979	6,987,015
Total Albemarle Corporation shareholders’ equity	11,222,559	9,412,180
Noncontrolling interests	260,596	252,919
Total equity	11,483,155	9,665,099
Total liabilities and equity	18,388,282	18,270,652
Nonrelated Party
Current liabilities:
Accounts payable	1,138,975	1,537,859
Related Party
Current liabilities:
Accounts payable	$ 184,198	$ 550,186

v3.24.2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,762	$ 2,808
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	117,528,000	117,356,000
Common stock, authorized (in shares)	275,000,000	275,000,000
Common stock, outstanding (in shares)	117,528,000	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

v3.24.2

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	1,953,142,000	1,888,623,000					1,888,623,000	64,519,000
Other comprehensive (loss) income	42,708,000	42,716,000				42,716,000		(8,000)
Common stock dividends declared	(93,855,000)	(93,855,000)					(93,855,000)	0
Mandatory convertible preferred stock cumulative dividends	0
Stock-based compensation	20,027,000	20,027,000			20,027,000
Exercise of stock options (in shares)			1,220
Exercise of stock options	81,000	81,000	$ 0		81,000
Issuance of common stock, net (in shares)			276,860
Issuance of common stock, net	0	0	$ 3,000		(3,000)
Withholding taxes paid on stock-based compensation award distributions (in shares)			(106,567)
Withholding taxes paid on stock-based compensation award distributions	(24,910,000)	(24,910,000)	$ (1,000)		(24,909,000)
Ending Balance (in shares) at Jun. 30, 2023			117,339,879	0
Ending 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
Beginning Balance (in shares) at Mar. 31, 2023			117,299,392	0
Beginning Balance at Mar. 31, 2023	9,459,070,000	9,212,735,000	$ 1,173,000	$ 0	2,931,961,000	(513,337,000)	6,792,938,000	246,335,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	676,439,000	650,043,000					650,043,000	26,396,000
Other comprehensive (loss) income	(4,609,000)	(4,609,000)				(4,609,000)		0
Common stock dividends declared	(46,936,000)	(46,936,000)					(46,936,000)	0
Mandatory convertible preferred stock cumulative dividends	0
Stock-based compensation	10,369,000	10,369,000			10,369,000
Issuance of common stock, net (in shares)			71,688
Issuance of common stock, net	0	0	$ 1,000		(1,000)
Withholding taxes paid on stock-based compensation award distributions (in shares)			(31,201)
Withholding taxes paid on stock-based compensation award distributions	(6,293,000)	(6,293,000)	$ 0		(6,293,000)
Ending Balance (in shares) at Jun. 30, 2023			117,339,879	0
Ending 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
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	(159,947,000)	(185,750,000)					(185,750,000)	25,803,000
Other comprehensive (loss) income	(109,014,000)	(109,025,000)				(109,025,000)		11,000
Common stock dividends declared	(112,151,000)	(94,014,000)					(94,014,000)	(18,137,000)
Mandatory convertible preferred stock cumulative dividends	(53,272,000)	(53,272,000)					(53,272,000)
Stock-based compensation	16,382,000	16,382,000			16,382,000
Exercise of stock options (in shares)			1,420
Exercise of stock options	86,000	86,000	$ 0		86,000
Issuance of common stock, net (in shares)			262,213
Issuance of common stock, net	11,545,000	11,545,000	$ 2,000		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)			(91,729)
Withholding taxes paid on stock-based compensation award distributions	(10,678,000)	(10,678,000)	$ (1,000)		(10,677,000)
Ending Balance (in shares) at Jun. 30, 2024			117,528,174	2,300,000
Ending 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
Beginning Balance (in shares) at Mar. 31, 2024			117,527,167	2,300,000
Beginning Balance at Mar. 31, 2024	11,799,719,000	11,532,802,000	$ 1,175,000	$ 2,235,379,000	2,962,585,000	(597,205,000)	6,930,868,000	266,917,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(176,594,000)	(188,198,000)					(188,198,000)	11,604,000
Other comprehensive (loss) income	(40,134,000)	(40,346,000)				(40,346,000)		212,000
Common stock dividends declared	(65,140,000)	(47,003,000)					(47,003,000)	(18,137,000)
Mandatory convertible preferred stock cumulative dividends	(41,688,000)	(41,688,000)					(41,688,000)
Stock-based compensation	7,325,000	7,325,000			7,325,000
Issuance of common stock, net (in shares)			1,463
Issuance of common stock, net	0	0	$ 0		0
Issuance of mandatory convertible preferred stock, net (in shares)				0
Issuance of mandatory convertible preferred stock, net	(274,000)	(274,000)		$ (274,000)
Withholding taxes paid on stock-based compensation award distributions (in shares)			(456)
Withholding taxes paid on stock-based compensation award distributions	(59,000)	(59,000)	$ 0		(59,000)
Ending Balance (in shares) at Jun. 30, 2024			117,528,174	2,300,000
Ending 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

v3.24.2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Cash dividends declared (in dollars per share)	$ 0.40	$ 0.40	$ 0.80	$ 0.80

v3.24.2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 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	(159,947)	1,953,142
Adjustments to reconcile net (loss) income to cash flows from operating activities:
Depreciation and amortization	262,030	180,356
Non-cash capital project assets write-off	276,013	0
Stock-based compensation and other	15,439	20,017
Equity in net income of unconsolidated investments (net of tax)	(467,378)	(947,239)
Dividends received from unconsolidated investments and nonmarketable securities	270,926	1,079,439
Pension and postretirement expense	2,529	3,933
Pension and postretirement contributions	(9,428)	(8,632)
Realized loss on investments in marketable securities	33,746	0
Unrealized loss (gain) on investments in marketable securities	23,777	(61,434)
Deferred income taxes	(129,087)	(144,720)
Working capital changes	460,937	(1,155,408)
Other, net	(118,711)	(124,767)
Net cash provided by operating activities	460,846	794,687
Cash flows from investing activities:
Acquisitions, net of cash acquired	0	(8,240)
Capital expenditures	(1,026,936)	(919,295)
Sales (purchases) of marketable securities, net	82,578	(123,979)
Investments in equity investments and nonmarketable securities	(148)	(1,192)
Net cash used in investing activities	(944,506)	(1,052,706)
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	(56,453)	0
Proceeds from borrowings of long-term debt and credit agreements	56,453	300,000
Other debt repayments, net	(627,390)	(1,500)
Dividends paid to common shareholders	(93,916)	(93,317)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	(39,376)	0
Dividends paid to noncontrolling interests	(18,137)	(53,145)
Proceeds from exercise of stock options	86	81
Withholding taxes paid on stock-based compensation award distributions	(10,677)	(24,910)
Other	(2,758)	0
Net cash provided by financing activities	1,444,582	127,209
Net effect of foreign exchange on cash and cash equivalents	(20,595)	231,406
Increase in cash and cash equivalents	940,327	100,596
Cash and cash equivalents at end of period	$ 1,830,227	$ 1,599,738

v3.24.2

Consolidated Statements of (Loss) Income (Parenthetical) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Cost of goods sold	[1]	$ 1,440,963	$ 1,811,703	$ 2,762,761	$ 3,115,415
Related Party
Cost of goods sold		$ 582,200	$ 421,000	$ 1,100,000	$ 774,200
[1] Included purchases from related unconsolidated affiliates of $582.2 million and $421.0 million for the three-month periods ended June 30, 2024 and 2023, respectively, and $1.1 billion and $774.2 million for the six-month periods ended June 30, 2024 and 2023, respectively.

v3.24.2

Basis of Presentation	6 Months Ended
	Jun. 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 June 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 six-month periods ended June 30, 2024 and 2023 and our condensed consolidated statements of cash flows for the six-month periods ended June 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 six-month periods ended June 30, 2024 are not necessarily indicative of the results to be expected for the full year.

v3.24.2

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories: The following table provides a breakdown of inventories at June 30, 2024 and December 31, 2023 (in thousands): June 30, December 31, 2024 2023 Finished goods $ 1,203,222  $ 1,624,893  Raw materials and work in process(a) 448,372  401,050  Stores, supplies and other 148,520  135,344  Total(b) $ 1,800,114  $ 2,161,287  (a)Includes $274.3 million and $213.4 million at June 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 $237.7 million and $559.6 million at June 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.

v3.24.2

Investments	6 Months Ended
	Jun. 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 six-month periods ended June 30, 2024 and 2023 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Windfield $ 278,995  $ 545,943  $ 451,674  $ 933,242  Other joint ventures 7,883  5,108  15,704  13,997  Total $ 286,878  $ 551,051  $ 467,378  $ 947,239  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 $626.7 million and $712.0 million at June 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 six-month periods ended June 30, 2024 and 2023 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales $ 541,982  $ 2,319,020  $ 731,991  $ 4,278,318  Gross profit 391,610  2,244,236  541,592  4,145,936  Income before income taxes 326,322  2,151,879  420,952  3,936,029  Net income 226,689  1,506,326  293,100  2,755,228  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 income, net in our consolidated statements of (loss) income. During the six-month period ended June 30, 2023, the Company purchased approximately $121.9 million of shares in publicly-traded companies. In addition, during the three-month and six-month periods ended June 30, 2024, the Company recorded unrealized mark-to-market losses of $17.8 million and $27.2 million, respectively, in Other income, net for all public equity securities held at the end of the balance sheet date. During the three-month and six-month periods ended June 30, 2023, the Company recorded unrealized mark-to-market gains of $15.0 million and $60.8 million, respectively, in Other 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 six months ended June 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 $297.8 million and $289.3 million at June 30, 2024 and December 31, 2023, respectively, which is reported in Investments in the consolidated balance sheets.

v3.24.2

Goodwill and Other Intangibles	6 Months Ended
	Jun. 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 six-month period ended June 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 (22,719) (51) (6,021) (28,791) Balance at June 30, 2024(a) $ 1,401,765  $ 32,588  $ 166,585  $ 1,600,938  (a)    Balance at June 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 June 30, 2024 and December 31, 2023 fully consists of goodwill related to the Refining Solutions reporting unit. The following table summarizes the changes in other intangibles and related accumulated amortization for the six-month period ended June 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 (11,338) (264) (745) (769) (13,116)   Balance at June 30, 2024 $ 406,465  $ 10,832  $ 31,036  $ 29,471  $ 477,804  Accumulated Amortization   Balance at December 31, 2023 $ (204,481) $ (3,673) $ (26,758) $ (15,374) $ (250,286) Amortization (9,877) —  (1,276) (452) (11,605) Retirements —  2,309  14,506  4,409  21,224  Foreign currency translation adjustments and other 5,409  40  453  296  6,198    Balance at June 30, 2024 $ (208,949) $ (1,324) $ (13,075) $ (11,121) $ (234,469) Net Book Value at December 31, 2023 $ 213,322  $ 9,732  $ 19,529  $ 19,275  $ 261,858  Net Book Value at June 30, 2024 $ 197,516  $ 9,508  $ 17,961  $ 18,350  $ 243,335  (a)    Net Book Value includes only indefinite-lived intangible assets.

v3.24.2

Long-Term Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-term Debt	Long-Term Debt: Long-term debt at June 30, 2024 and December 31, 2023 consisted of the following (in thousands): June 30, December 31, 2024 2023 1.125% notes due 2025 $ 402,661  $ 416,501  1.625% notes due 2028 533,850  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 26,832  30,197  Finance lease obligations 113,100  110,245  Other 22,000  22,000  Unamortized discount and debt issuance costs (97,338) (105,992) Total long-term debt 3,522,717  4,166,763  Less amounts due within one year 3,213  625,761  Long-term debt, less current portion $ 3,519,504  $ 3,541,002  During the six months ended June 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 7, “Equity,” for additional information. Given the economic conditions, specifically around the market pricing of lithium, and the related anticipated impact on the Company’s future earnings, on February 9, 2024 we amended our revolving, unsecured amended and restated credit agreement dated October 28, 2022 (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 1.125% as of June 30, 2024. There were no borrowings outstanding under the 2022 Credit Agreement as of June 30, 2024. Borrowings under the 2022 Credit Agreement are conditioned upon satisfaction of certain customary conditions precedent, including the absence of defaults. The February 2024 amendment was entered into to modify the financial covenants under the 2022 Credit Agreement to avoid a potential covenant violation over the following 18 months given the market pricing of lithium. Following the February 2024 amendment, the 2022 Credit Agreement subjects the Company to two financial covenants, as well as customary affirmative and negative covenants. The first financial covenant requires that the ratio of (a) the Company’s consolidated net funded debt plus a proportionate amount of Windfield’s net funded debt to (b) consolidated Windfield-Adjusted EBITDA (as such terms are defined in the 2022 Credit Agreement) be less than or equal to (i) 3.50:1 prior to the second quarter of 2024, (ii) 5.00:1 for the second quarter of 2024, (iii) 5.50:1 for the third quarter of 2024, (iv) 4.00:1 for the fourth quarter of 2024, (v) 3.75:1 for the first and second quarters of 2025 and (vi) 3.50:1 after the second quarter of 2025. 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, 2025 if the consideration includes cash proceeds from issuance of funded debt in excess of $500 million. The second financial covenant requires that, beginning in 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 2.00:1 for fiscal quarters through June 30, 2025, and no less than 3.00:1 for all fiscal quarters 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 in the near future. However, 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.

v3.24.2

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies: Environmental The following activity was recorded in environmental liabilities for the six months ended June 30, 2024 (in thousands): Beginning balance at December 31, 2023 $ 34,149  Expenditures (1,060) Accretion of discount 576  Liability releases (2,570) Foreign currency translation adjustments and other 54  Ending balance at June 30, 2024 31,149  Less amounts reported in Accrued expenses 6,694  Amounts reported in Other noncurrent liabilities $ 24,455  Environmental remediation liabilities included discounted liabilities of $25.2 million and $27.4 million at June 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 $52.0 million and $55.4 million at June 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 $48 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 $12.0 million and $14.5 million at June 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 on product delivery and performance according to customer specifications that can cover both shipments on an individual basis, as well as blanket coverage of multiple shipments under certain customer supply contracts. The financial coverage provided by these guarantees is typically based on a percentage of net sales value. 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 June 30, 2024, the Company believes its liability under such obligations is immaterial.

v3.24.2

Equity	6 Months Ended
	Jun. 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 May 7, 2024, the Company’s board of directors declared a cash dividend of $0.40 per share. This dividend was paid on July 1, 2024 to shareholders of record at the close of business as of June 14, 2024. On July 16, 2024, the Company’s board of directors declared a cash dividend of $0.405 per share, which is payable on October 1, 2024 to shareholders of record at the close of business as of September 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 growth capital expenditures, such as the construction and expansion of lithium operations in Australia and China that are significantly progressed or near completion, 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. The first dividend was paid in June 2024 at $17.12 per share of Mandatory Convertible Preferred Stock. 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 June 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 June 30, 2024 Three Months Ended June 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 $ (586,620) $ (10,585) $ (597,205) $ (516,662) $ 3,325  $ (513,337) Other comprehensive (loss) income before reclassifications (46,767) 4,060  (42,707) (5,652) 1,026  (4,626) Amounts reclassified from accumulated other comprehensive loss 16  2,557  2,573  17  —  17  Other comprehensive (loss) income, net of tax (46,751) 6,617  (40,134) (5,635) 1,026  (4,609) Other comprehensive income attributable to noncontrolling interests (212) —  (212) —  —  —  Balance, end of period $ (633,583) $ (3,968) $ (637,551) $ (522,297) $ 4,351  $ (517,946) Six Months Ended June 30, 2024 Six Months Ended June 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 (loss) income before reclassifications (97,004) (17,282) (114,286) 40,548  2,127  42,675  Amounts reclassified from accumulated other comprehensive loss 33  5,239  5,272  33  —  33  Other comprehensive (loss) income, net of tax (96,971) (12,043) (109,014) 40,581  2,127  42,708  Other comprehensive (income) loss attributable to noncontrolling interests (11) —  (11) 8  —  8  Balance, end of period $ (633,583) $ (3,968) $ (637,551) $ (522,297) $ 4,351  $ (517,946) (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. See Note 14, “Fair Value of Financial Instruments,” for additional information. The amount of income tax (expense) benefit allocated to each component of Other comprehensive (loss) income for the three-month and six-month periods ended June 30, 2024 and 2023 is provided in the following tables (in thousands): Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Foreign Currency Translation and Other Cash Flow Hedge Total Foreign Currency Translation and Other Cash Flow Hedge Total Other comprehensive (loss) income, before tax $ (46,747) $ 9,453  $ (37,294) $ (5,631) $ 1,026  $ (4,605) Income tax expense (4) (2,836) (2,840) (4) —  (4) Other comprehensive (loss) income, net of tax $ (46,751) $ 6,617  $ (40,134) $ (5,635) $ 1,026  $ (4,609) Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Foreign Currency Translation and Other Cash Flow Hedge Total Foreign Currency Translation and Other Cash Flow Hedge Total Other comprehensive (loss) income, before tax $ (96,964) $ (17,204) $ (114,168) $ 40,347  $ 2,127  $ 42,474  Income tax (expense) benefit (7) 5,161  5,154  234  —  234  Other comprehensive (loss) income, net of tax $ (96,971) $ (12,043) $ (109,014) $ 40,581  $ 2,127  $ 42,708

v3.24.2

Restructuring and Related Activities	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Capital Project Assets Write-off	Restructuring and Capital Project Assets Write-off: 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. During the second quarter of 2024, the Company indefinitely suspended construction of the fourth train at its Kemerton conversion plant in Western Australia, 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. This resulted in charges of $292.3 million and $309.5 million recorded in Operating (loss) profit for the three-month and six-month periods ended June 30, 2024, respectively, and losses of $2.6 million and $5.4 million recorded in Other income, net for the three-month and six-month periods ended June 30, 2024, respectively. The Company evaluated the significance of the fourth train at its Kemerton conversion plant in relation to the overall asset group and deemed it to be insignificant. Despite the insignificance of the Kemerton conversion plant to the asset group, the Company elected to evaluate the recoverability of its property, plant and equipment within the corresponding asset group as of June 30, 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 second quarter of 2024. In addition, as part of the Company’s continuing plan to optimize its cost structure, the Company recorded severance costs of $2.5 million and $18.9 million during the three-month and six-month periods ended June 30, 2024, respectively, for employees in Corporate and each of the businesses. These expenses were recorded in Selling, general and administrative expenses (“SG&A”) and have primarily been paid, with the remainder expected to be paid in 2024. During the three-month and six-month periods ended June 30, 2023, $7.4 million of severance costs in the Ketjen business were recorded in SG&A. Subsequent Event In July 2024, the Company announced a comprehensive review of its cost and operating structure to maintain a competitive position, further generate long-term financial flexibility and drive long-term value creation. As part of this review, the Company concluded to stop construction of the third train at its Kemerton conversion plant. The Company also announced that it will put the second train at the Kemerton conversion plant into care and maintenance. As a result, the Company expects to record a charge in the third quarter of 2024 in the range of approximately $0.9 billion to $1.1 billion, of which approximately $725 million to $800 million consists of the expected write-off of the carrying value of the Kemerton Train 3 assets less any salvage value, with the remainder related to contract cancellation, severance, decommissioning, demolition and other associated restructuring costs for both Kemerton Trains 2 and 3. The Company’s estimated range of the charge takes into account initial estimates for these activities and the determination of salvage value of the fixed assets, among other variables. The restructuring actions associated with these charges are expected to be substantially complete in 2024. The first train of Kemerton will continue to operate and activity around it is currently focused on commercialization efforts. As a result of the actions taken at Kemerton Train 3 and Train 2 in the third quarter of 2024, there is a reasonable possibility within the next 12 months the Company may reach a conclusion a valuation allowance will be needed.

v3.24.2

Pension Plans and Other Postretirement Benefits	6 Months Ended
	Jun. 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 six-month periods ended June 30, 2024 and 2023 were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Pension Benefits Cost (Credit): Service cost $ 1,563  $ 1,334  $ 3,129  $ 2,655  Interest cost 8,140  8,558  16,285  17,100  Expected return on assets (8,838) (8,415) (17,668) (16,824) Amortization of prior service benefit 19  21  39  41  Total net pension benefits cost $ 884  $ 1,498  $ 1,785  $ 2,972  Postretirement Benefits Cost: Service cost $ 11  $ 12  $ 23  $ 24  Interest cost 361  469  721  937  Total net postretirement benefits cost $ 372  $ 481  $ 744  $ 961  Total net pension and postretirement benefits cost $ 1,256  $ 1,979  $ 2,529  $ 3,933  All components of net benefit cost, other than service cost, are included in Other income, net on the consolidated statements of (loss) income. During the three-month and six-month periods ended June 30, 2024, the Company made contributions of $4.6 million and $9.4 million, respectively, to its qualified and nonqualified pension plans and the U.S. postretirement benefit plan. During the three-month and six-month periods ended June 30, 2023, the Company made contributions of $5.8 million and $8.6 million, respectively, to its qualified and nonqualified pension plans and the U.S. postretirement benefit plan.

v3.24.2

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes: The effective income tax rates for the three-month and six-month periods ended June 30, 2024 were 6.2% and 5.2%, respectively, compared to 25.5% and 24.1% for the three-month and six-month periods ended June 30, 2023, respectively. The three-month and six-month periods ended June 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 six-month periods ended June 30, 2024, compared to the three-month and six-month periods ended June 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 six-month periods ended June 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 and the valuation allowance for losses in 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 six-month periods ended June 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, and 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”).

v3.24.2

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share: Basic and diluted (loss) earnings per share for the three-month and six-month periods ended June 30, 2024 and 2023 are calculated as follows (in thousands, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic (loss) earnings per share Numerator: Net (loss) income attributable to Albemarle Corporation $ (188,198) $ 650,043  $ (185,750) $ 1,888,623  Mandatory convertible preferred stock dividends (41,688) —  (53,272) —  Net (loss) income attributable to Albemarle Corporation common shareholders $ (229,886) $ 650,043  $ (239,022) $ 1,888,623  Denominator: Weighted-average common shares for basic (loss) earnings per share 117,528  117,332  117,489  117,282  Basic (loss) earnings per share $ (1.96) $ 5.54  $ (2.03) $ 16.10  Diluted (loss) earnings per share Numerator: Net (loss) income attributable to Albemarle Corporation $ (188,198) $ 650,043  $ (185,750) $ 1,888,623  Mandatory convertible preferred stock dividends (41,688) —  (53,272) —  Net (loss) income attributable to Albemarle Corporation common shareholders $ (229,886) $ 650,043  $ (239,022) $ 1,888,623  Denominator: Weighted-average common shares for basic (loss) earnings per share 117,528  117,332  117,489  117,282  Incremental shares under stock compensation plans —  437  —  523  Weighted-average common shares for diluted (loss) earnings per share 117,528  117,769  117,489  117,805  Diluted (loss) earnings per share $ (1.96) $ 5.52  $ (2.03) $ 16.03  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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Shares assuming the conversion of the mandatory convertible preferred stock 19,411  —  12,841  —  Shares under the stock compensation plans 1,140  51  1,018  36

v3.24.2

Leases	6 Months Ended
	Jun. 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 six-month periods ended June 30, 2024 and 2023 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease cost $ 9,572  $ 14,311  $ 19,118  $ 26,062  Finance lease cost: Amortization of right of use assets 2,357  1,935  3,665  2,780  Interest on lease liabilities 1,742  1,635  3,201  2,694  Total finance lease cost 4,099  3,570  6,866  5,474  Short-term lease cost 8,786  4,860  14,804  9,920  Variable lease cost 9,215  4,766  17,012  8,275  Total lease cost $ 31,672  $ 27,507  $ 57,800  $ 49,731  Supplemental cash flow information related to our lease contracts for the six-month periods ended June 30, 2024 and 2023 is as follows (in thousands): Six Months Ended June 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 18,022  $ 24,816  Operating cash flows from finance leases 6,318  2,400  Financing cash flows from finance leases 2,722  1,081  Right-of-use assets obtained in exchange for lease obligations: Operating leases 9,449  30,581  Finance leases 6,200  46,773  Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at June 30, 2024 and December 31, 2023 is as follows (in thousands, except as noted): June 30, 2024 December 31, 2023 Operating leases: Other assets $ 129,486  $ 137,405  Accrued expenses 28,368  30,583  Other noncurrent liabilities 108,404  113,681  Total operating lease liabilities 136,772  144,264  Finance leases: Net property, plant and equipment 114,509  112,438  Current portion of long-term debt(a) 6,697  9,702  Long-term debt 109,887  104,484  Total finance lease liabilities 116,584  114,186  Weighted average remaining lease term (in years): Operating leases 12.7 12.2 Finance leases 20.6 20.7 Weighted average discount rate (%): Operating leases 4.66  % 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 June 30, 2024 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 16,362  $ 5,690  2025 30,762  10,739  2026 22,355  10,098  2027 17,011  10,098  2028 12,382  10,098  Thereafter 108,091  141,265  Total lease payments 206,963  187,988  Less imputed interest 70,191  71,404  Total $ 136,772  $ 116,584
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 six-month periods ended June 30, 2024 and 2023 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease cost $ 9,572  $ 14,311  $ 19,118  $ 26,062  Finance lease cost: Amortization of right of use assets 2,357  1,935  3,665  2,780  Interest on lease liabilities 1,742  1,635  3,201  2,694  Total finance lease cost 4,099  3,570  6,866  5,474  Short-term lease cost 8,786  4,860  14,804  9,920  Variable lease cost 9,215  4,766  17,012  8,275  Total lease cost $ 31,672  $ 27,507  $ 57,800  $ 49,731  Supplemental cash flow information related to our lease contracts for the six-month periods ended June 30, 2024 and 2023 is as follows (in thousands): Six Months Ended June 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 18,022  $ 24,816  Operating cash flows from finance leases 6,318  2,400  Financing cash flows from finance leases 2,722  1,081  Right-of-use assets obtained in exchange for lease obligations: Operating leases 9,449  30,581  Finance leases 6,200  46,773  Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at June 30, 2024 and December 31, 2023 is as follows (in thousands, except as noted): June 30, 2024 December 31, 2023 Operating leases: Other assets $ 129,486  $ 137,405  Accrued expenses 28,368  30,583  Other noncurrent liabilities 108,404  113,681  Total operating lease liabilities 136,772  144,264  Finance leases: Net property, plant and equipment 114,509  112,438  Current portion of long-term debt(a) 6,697  9,702  Long-term debt 109,887  104,484  Total finance lease liabilities 116,584  114,186  Weighted average remaining lease term (in years): Operating leases 12.7 12.2 Finance leases 20.6 20.7 Weighted average discount rate (%): Operating leases 4.66  % 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 June 30, 2024 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 16,362  $ 5,690  2025 30,762  10,739  2026 22,355  10,098  2027 17,011  10,098  2028 12,382  10,098  Thereafter 108,091  141,265  Total lease payments 206,963  187,988  Less imputed interest 70,191  71,404  Total $ 136,772  $ 116,584

v3.24.2

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information: The Company’s three reportable segments include: (1) Energy Storage; (2) Specialties; and (3) Ketjen. Each segment has a dedicated team of sales, research and development, process engineering, manufacturing and sourcing, and business strategy personnel and has full accountability for improving execution through greater asset and market focus, agility and responsiveness. This business structure aligns with the markets and customers we serve through each of the segments. This structure also facilitates the continued standardization of business processes across the organization, and is consistent with the manner in which information is presently used internally by the Company’s chief operating decision maker to evaluate performance and make resource allocation decisions. 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 February 2024 amendment to the 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 six-month periods ended June 30, 2024 and 2023 were as follows (in thousands). Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales: Energy Storage $ 830,110  $ 1,763,065  $ 1,631,008  $ 3,706,747  Specialties 334,600  371,302  650,665  790,080  Ketjen 265,675  235,823  509,448  453,615  Total net sales $ 1,430,385  $ 2,370,190  $ 2,791,121  $ 4,950,442  Adjusted EBITDA: Energy Storage $ 282,979  $ 1,165,080  $ 480,975  $ 2,732,772  Specialties 54,175  60,200  99,356  222,358  Ketjen 37,836  42,882  59,815  57,425  Total segment adjusted EBITDA $ 374,990  $ 1,268,162  $ 640,146  $ 3,012,555  Depreciation and amortization: Energy Storage $ 100,433  $ 56,540  $ 187,707  $ 108,702  Specialties 23,170  21,299  45,607  41,191  Ketjen 12,937  13,084  25,294  26,227  Total segment depreciation and amortization 136,540  90,923  258,608  176,120  Corporate 1,739  2,162  3,422  4,236  Total depreciation and amortization $ 138,279  $ 93,085  $ 262,030  $ 180,356  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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Total segment adjusted EBITDA $ 374,990  $ 1,268,162  $ 640,146  $ 3,012,555  Corporate expenses, net 11,370  (1,920) 37,450  15,391  Depreciation and amortization (138,279) (93,085) (262,030) (180,356) Interest and financing expenses (35,187) (25,577) (73,156) (52,354) Income tax benefit (expense) 30,660  (42,987) 34,381  (319,950) Proportionate share of Windfield income tax expense(a) (119,780) (233,976) (193,469) (399,961) Acquisition and integration related costs(b) (1,581) (6,502) (3,488) (11,610) Restructuring and other charges(c) (2,525) (7,439) (18,861) (7,439) Capital project assets write-off(c) (294,940) —  (314,889) —  Non-operating pension and OPEB items 337  (612) 662  (1,213) (Loss) gain in fair value of public equity securities(d) (17,780) 15,020  (60,939) 60,846  Legal accrual(e) —  (218,510) —  (218,510) Other(f) 4,517  (2,531) 28,443  (8,776) Net (loss) income attributable to Albemarle Corporation $ (188,198) $ 650,043  $ (185,750) $ 1,888,623  (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 8, “Restructuring and Capital Project Assets Write-off,” for further details. (d)Loss of $17.8 million and $27.2 million recorded in Other income, net for the three and six months ended June 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 income, net for the six months ended June 30, 2024 resulting from the sale of investments in public equity securities. Gain of $15.0 million and $60.8 million recorded in Other income, net for the three and six months ended June 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 June 30, 2024 recorded in: •SG&A - $5.1 million of expenses related to certain historical legal and environmental matters. •Other income, net - $8.9 million of income from PIK dividends of preferred equity in a Grace subsidiary and a $0.6 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations. Included amounts for the three months ended June 30, 2023 recorded in: •SG&A - $0.7 million of facility closure expenses related to offices in Germany and $0.6 million primarily related to shortfall contributions for a multiemployer plan financial improvement plan. •Other income, net - $3.9 million of a loss resulting from the adjustment of indemnification related to previously disposed businesses, partially offset by a $2.7 million gain in the fair value of preferred equity of a Grace subsidiary. Included amounts for the six months ended June 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 - $5.2 million of expenses related to certain historical legal and environmental matters. •Other income, net - $17.6 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 $2.4 million gain primarily resulting from the adjustment of indemnification related to a previously disposed business and a $0.6 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations, partially offset by $2.9 million of charges for asset retirement obligations at a site not part of our operations. Included amounts for the six months ended June 30, 2023 recorded in: •SG&A - $1.9 million of charges primarily for environmental reserves at sites not part of our operations, $1.4 million of facility closure expenses related to offices in Germany and $0.6 million primarily related to shortfall contributions for a multiemployer plan financial improvement plan. •Other income, net - $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, partially offset by a $2.7 million gain in the fair value of preferred equity of a Grace subsidiary.

v3.24.2

Fair Value of Financial Instruments	6 Months Ended
	Jun. 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. June 30, 2024 December 31, 2023 Recorded Amount Fair Value Recorded Amount Fair Value (In thousands) Long-term debt $ 3,540,851  $ 3,342,861  $ 4,186,532  $ 4,021,693  Foreign Currency Forward Contracts—during the fourth quarter of 2019, we entered into a foreign currency forward contract to hedge the cash flow exposure of non-functional currency purchases during the construction of the Kemerton plant in Australia. This derivative financial instrument is used to manage risk and is not used for trading or other speculative purposes. This foreign currency forward contract has been designated as a hedging instrument under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging. We had outstanding designated foreign currency forward contracts with notional values totaling the equivalent of $839.3 million and $994.5 million at June 30, 2024 and December 31, 2023, respectively. We also enter into foreign currency forward contracts in connection with our risk management strategies that have not been designated as hedging instruments under ASC 815, Derivatives and Hedging, in an attempt to minimize the financial impact of changes in foreign currency exchange rates. These derivative financial instruments are used to manage risk and are not used for trading or other speculative purposes. The fair values of our non-designated foreign currency forward contracts are estimated based on current settlement values. At June 30, 2024 and December 31, 2023, we had outstanding non-designated foreign currency forward contracts with notional values totaling $5.9 billion and $7.1 billion, respectively, hedging our exposure to various currencies including the Chinese Renminbi, Euro, Australian Dollar and Chilean Peso. The following table summarizes the fair value of our foreign currency forward contracts included in the consolidated balance sheets as of June 30, 2024 and December 31, 2023 (in thousands): June 30, 2024 December 31, 2023 Assets Liabilities Assets Liabilities Designated as hedging instruments Other current assets $ —  $ —  $ 3,489  $ —  Other assets —  —  11,704  —  Accrued expenses —  1,250  —  446  Other noncurrent liabilities —  888  —  —  Total designated as hedging instruments —  2,138  15,193  446  Not designated as hedging instruments Other current assets 1,036  —  2,636  —  Other assets 12  —  —  —  Accrued expenses —  2,686  —  5,306  Other noncurrent liabilities —  2,686  —  —  Total not designated as hedging instruments 1,048  5,372  2,636  5,306  Total $ 1,048  $ 7,510  $ 17,829  $ 5,752  The following table summarizes the net gains (losses) recognized for our foreign currency forward contracts during the three-month and six-month periods ended June 30, 2024 and 2023 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Designated as hedging instruments Income (loss) recognized in Other comprehensive (loss) income $ 4,060  $ 1,026  $ (17,282) $ 2,127  Loss recognized in Other income, net $ (2,557) $ —  $ (5,239) $ —  Not designated as hedging instruments (Loss) income recognized in Other income, net(a) $ (1,847) $ 208,174  $ 12,975  $ 243,407  (a)    Fluctuations in the value of our foreign currency forward contracts not designated as hedging instruments are generally expected to be offset by changes in the value of the underlying exposures being hedged, which are also reported in Other income, net. In addition, for the six-month periods ended June 30, 2024 and 2023, we recorded net cash receipts of $11.2 million and $224.2 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.

v3.24.2

Fair Value Measurement	6 Months Ended
	Jun. 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 June 30, 2024 and December 31, 2023 (in thousands): June 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) $ 297,761  $ —  $ —  $ 297,761  Investments under executive deferred compensation plan(b) $ 34,663  $ 34,663  $ —  $ —  Public equity securities(c) $ 27,730  $ 27,730  $ —  $ —  Private equity securities measured at net asset value(d)(e) $ 4,534  $ —  $ —  $ —  Foreign currency forward contracts(f) $ 1,048  $ —  $ 1,048  $ —  Liabilities: Obligations under executive deferred compensation plan(b) $ 34,663  $ 34,663  $ —  $ —  Foreign currency forward contracts(f) $ 7,510  $ —  $ 7,510  $ —  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  $ —  $ —  $ —  Foreign currency forward contracts(f) $ 17,829  $ —  $ 17,829  $ —  Liabilities: Obligations under executive deferred compensation plan(b) $ 33,564  $ 33,564  $ —  $ —  Foreign currency forward contracts(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 reported in Other income, net in our consolidated statements of (loss) income. See Note 3, “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 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)As a result of our global operating and financing activities, we are exposed to market risks from changes in foreign currency exchange rates which may adversely affect our operating results and financial position. When deemed appropriate, we minimize our risks from foreign currency exchange rate fluctuations through the use of foreign currency forward contracts. The foreign currency forward contracts are valued using broker quotations or market transactions in either the listed or over-the-counter markets. As such, these derivative instruments are classified within Level 2. See Note 14, “Fair Value of Financial Instruments,” for further details about our foreign currency forward contracts. The following tables set forth the reconciliation of the beginning and ending balance for the Level 3 recurring fair value measurements (in thousands): Available for Sale Debt Securities Beginning balance at December 31, 2023 $ 289,307  PIK dividends 17,619  Cash received for tax liability (9,165) Ending balance at June 30, 2024 $ 297,761

v3.24.2

Related Party Transactions	6 Months Ended
	Jun. 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Sales to unconsolidated affiliates $ 227  $ 3,673  $ 2,185  $ 10,773  Purchases from unconsolidated affiliates(a) $ 181,256  $ 1,114,944  $ 318,453  $ 2,187,488  (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): June 30, 2024 December 31, 2023 Receivables from unconsolidated affiliates $ 915  $ 15,992  Payables to unconsolidated affiliates(a) $ 184,198  $ 550,186  (a)Payables to unconsolidated affiliates primarily relate to spodumene purchased from the Company’s Windfield joint venture under normal payment terms.

v3.24.2

Supplemental Cash Flow Information	6 Months Ended
	Jun. 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): Six Months Ended June 30, 2024 2023 Supplemental non-cash disclosure related to investing and financing activities: Capital expenditures included in Accounts payable $ 320,773  $ 408,998  Common stock issued for annual incentive bonus plan(a) 11,545  —  (a)During the six-month period ended June 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 six-month periods ended June 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.

v3.24.2

Recently Issued Accounting Pronouncements	6 Months Ended
	Jun. 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.

v3.24.2

Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 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.

v3.24.2

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Breakdown of Inventories	The following table provides a breakdown of inventories at June 30, 2024 and December 31, 2023 (in thousands): June 30, December 31, 2024 2023 Finished goods $ 1,203,222  $ 1,624,893  Raw materials and work in process(a) 448,372  401,050  Stores, supplies and other 148,520  135,344  Total(b) $ 1,800,114  $ 2,161,287  (a)Includes $274.3 million and $213.4 million at June 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.

v3.24.2

Investments (Tables)	6 Months Ended
	Jun. 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 six-month periods ended June 30, 2024 and 2023 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Windfield $ 278,995  $ 545,943  $ 451,674  $ 933,242  Other joint ventures 7,883  5,108  15,704  13,997  Total $ 286,878  $ 551,051  $ 467,378  $ 947,239
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 six-month periods ended June 30, 2024 and 2023 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales $ 541,982  $ 2,319,020  $ 731,991  $ 4,278,318  Gross profit 391,610  2,244,236  541,592  4,145,936  Income before income taxes 326,322  2,151,879  420,952  3,936,029  Net income 226,689  1,506,326  293,100  2,755,228

v3.24.2

Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Goodwill	The following table summarizes the changes in goodwill by reportable segment for the six-month period ended June 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 (22,719) (51) (6,021) (28,791) Balance at June 30, 2024(a) $ 1,401,765  $ 32,588  $ 166,585  $ 1,600,938  (a)    Balance at June 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 June 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 six-month period ended June 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 (11,338) (264) (745) (769) (13,116)   Balance at June 30, 2024 $ 406,465  $ 10,832  $ 31,036  $ 29,471  $ 477,804  Accumulated Amortization   Balance at December 31, 2023 $ (204,481) $ (3,673) $ (26,758) $ (15,374) $ (250,286) Amortization (9,877) —  (1,276) (452) (11,605) Retirements —  2,309  14,506  4,409  21,224  Foreign currency translation adjustments and other 5,409  40  453  296  6,198    Balance at June 30, 2024 $ (208,949) $ (1,324) $ (13,075) $ (11,121) $ (234,469) Net Book Value at December 31, 2023 $ 213,322  $ 9,732  $ 19,529  $ 19,275  $ 261,858  Net Book Value at June 30, 2024 $ 197,516  $ 9,508  $ 17,961  $ 18,350  $ 243,335  (a)    Net Book Value includes only indefinite-lived intangible assets.

v3.24.2

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt at June 30, 2024 and December 31, 2023 consisted of the following (in thousands): June 30, December 31, 2024 2023 1.125% notes due 2025 $ 402,661  $ 416,501  1.625% notes due 2028 533,850  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 26,832  30,197  Finance lease obligations 113,100  110,245  Other 22,000  22,000  Unamortized discount and debt issuance costs (97,338) (105,992) Total long-term debt 3,522,717  4,166,763  Less amounts due within one year 3,213  625,761  Long-term debt, less current portion $ 3,519,504  $ 3,541,002

v3.24.2

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Activity in Recorded Environmental Liabilities	The following activity was recorded in environmental liabilities for the six months ended June 30, 2024 (in thousands): Beginning balance at December 31, 2023 $ 34,149  Expenditures (1,060) Accretion of discount 576  Liability releases (2,570) Foreign currency translation adjustments and other 54  Ending balance at June 30, 2024 31,149  Less amounts reported in Accrued expenses 6,694  Amounts reported in Other noncurrent liabilities $ 24,455

v3.24.2

Equity (Tables)	6 Months Ended
	Jun. 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 June 30, 2024 Three Months Ended June 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 $ (586,620) $ (10,585) $ (597,205) $ (516,662) $ 3,325  $ (513,337) Other comprehensive (loss) income before reclassifications (46,767) 4,060  (42,707) (5,652) 1,026  (4,626) Amounts reclassified from accumulated other comprehensive loss 16  2,557  2,573  17  —  17  Other comprehensive (loss) income, net of tax (46,751) 6,617  (40,134) (5,635) 1,026  (4,609) Other comprehensive income attributable to noncontrolling interests (212) —  (212) —  —  —  Balance, end of period $ (633,583) $ (3,968) $ (637,551) $ (522,297) $ 4,351  $ (517,946) Six Months Ended June 30, 2024 Six Months Ended June 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 (loss) income before reclassifications (97,004) (17,282) (114,286) 40,548  2,127  42,675  Amounts reclassified from accumulated other comprehensive loss 33  5,239  5,272  33  —  33  Other comprehensive (loss) income, net of tax (96,971) (12,043) (109,014) 40,581  2,127  42,708  Other comprehensive (income) loss attributable to noncontrolling interests (11) —  (11) 8  —  8  Balance, end of period $ (633,583) $ (3,968) $ (637,551) $ (522,297) $ 4,351  $ (517,946) (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. See Note 14, “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 (loss) income for the three-month and six-month periods ended June 30, 2024 and 2023 is provided in the following tables (in thousands): Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Foreign Currency Translation and Other Cash Flow Hedge Total Foreign Currency Translation and Other Cash Flow Hedge Total Other comprehensive (loss) income, before tax $ (46,747) $ 9,453  $ (37,294) $ (5,631) $ 1,026  $ (4,605) Income tax expense (4) (2,836) (2,840) (4) —  (4) Other comprehensive (loss) income, net of tax $ (46,751) $ 6,617  $ (40,134) $ (5,635) $ 1,026  $ (4,609) Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Foreign Currency Translation and Other Cash Flow Hedge Total Foreign Currency Translation and Other Cash Flow Hedge Total Other comprehensive (loss) income, before tax $ (96,964) $ (17,204) $ (114,168) $ 40,347  $ 2,127  $ 42,474  Income tax (expense) benefit (7) 5,161  5,154  234  —  234  Other comprehensive (loss) income, net of tax $ (96,971) $ (12,043) $ (109,014) $ 40,581  $ 2,127  $ 42,708

v3.24.2

Pension Plans and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 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 six-month periods ended June 30, 2024 and 2023 were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Pension Benefits Cost (Credit): Service cost $ 1,563  $ 1,334  $ 3,129  $ 2,655  Interest cost 8,140  8,558  16,285  17,100  Expected return on assets (8,838) (8,415) (17,668) (16,824) Amortization of prior service benefit 19  21  39  41  Total net pension benefits cost $ 884  $ 1,498  $ 1,785  $ 2,972  Postretirement Benefits Cost: Service cost $ 11  $ 12  $ 23  $ 24  Interest cost 361  469  721  937  Total net postretirement benefits cost $ 372  $ 481  $ 744  $ 961  Total net pension and postretirement benefits cost $ 1,256  $ 1,979  $ 2,529  $ 3,933

v3.24.2

Earnings Per Share (Tables)	6 Months Ended
	Jun. 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 six-month periods ended June 30, 2024 and 2023 are calculated as follows (in thousands, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic (loss) earnings per share Numerator: Net (loss) income attributable to Albemarle Corporation $ (188,198) $ 650,043  $ (185,750) $ 1,888,623  Mandatory convertible preferred stock dividends (41,688) —  (53,272) —  Net (loss) income attributable to Albemarle Corporation common shareholders $ (229,886) $ 650,043  $ (239,022) $ 1,888,623  Denominator: Weighted-average common shares for basic (loss) earnings per share 117,528  117,332  117,489  117,282  Basic (loss) earnings per share $ (1.96) $ 5.54  $ (2.03) $ 16.10  Diluted (loss) earnings per share Numerator: Net (loss) income attributable to Albemarle Corporation $ (188,198) $ 650,043  $ (185,750) $ 1,888,623  Mandatory convertible preferred stock dividends (41,688) —  (53,272) —  Net (loss) income attributable to Albemarle Corporation common shareholders $ (229,886) $ 650,043  $ (239,022) $ 1,888,623  Denominator: Weighted-average common shares for basic (loss) earnings per share 117,528  117,332  117,489  117,282  Incremental shares under stock compensation plans —  437  —  523  Weighted-average common shares for diluted (loss) earnings per share 117,528  117,769  117,489  117,805  Diluted (loss) earnings per share $ (1.96) $ 5.52  $ (2.03) $ 16.03
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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Shares assuming the conversion of the mandatory convertible preferred stock 19,411  —  12,841  —  Shares under the stock compensation plans 1,140  51  1,018  36

v3.24.2

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Lease, Cost	The following table provides details of our lease contracts for the three-month and six-month periods ended June 30, 2024 and 2023 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease cost $ 9,572  $ 14,311  $ 19,118  $ 26,062  Finance lease cost: Amortization of right of use assets 2,357  1,935  3,665  2,780  Interest on lease liabilities 1,742  1,635  3,201  2,694  Total finance lease cost 4,099  3,570  6,866  5,474  Short-term lease cost 8,786  4,860  14,804  9,920  Variable lease cost 9,215  4,766  17,012  8,275  Total lease cost $ 31,672  $ 27,507  $ 57,800  $ 49,731  Supplemental cash flow information related to our lease contracts for the six-month periods ended June 30, 2024 and 2023 is as follows (in thousands): Six Months Ended June 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 18,022  $ 24,816  Operating cash flows from finance leases 6,318  2,400  Financing cash flows from finance leases 2,722  1,081  Right-of-use assets obtained in exchange for lease obligations: Operating leases 9,449  30,581  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 June 30, 2024 and December 31, 2023 is as follows (in thousands, except as noted): June 30, 2024 December 31, 2023 Operating leases: Other assets $ 129,486  $ 137,405  Accrued expenses 28,368  30,583  Other noncurrent liabilities 108,404  113,681  Total operating lease liabilities 136,772  144,264  Finance leases: Net property, plant and equipment 114,509  112,438  Current portion of long-term debt(a) 6,697  9,702  Long-term debt 109,887  104,484  Total finance lease liabilities 116,584  114,186  Weighted average remaining lease term (in years): Operating leases 12.7 12.2 Finance leases 20.6 20.7 Weighted average discount rate (%): Operating leases 4.66  % 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 June 30, 2024 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 16,362  $ 5,690  2025 30,762  10,739  2026 22,355  10,098  2027 17,011  10,098  2028 12,382  10,098  Thereafter 108,091  141,265  Total lease payments 206,963  187,988  Less imputed interest 70,191  71,404  Total $ 136,772  $ 116,584
Finance Lease, Liability, Maturity	Maturities of lease liabilities at June 30, 2024 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 16,362  $ 5,690  2025 30,762  10,739  2026 22,355  10,098  2027 17,011  10,098  2028 12,382  10,098  Thereafter 108,091  141,265  Total lease payments 206,963  187,988  Less imputed interest 70,191  71,404  Total $ 136,772  $ 116,584

v3.24.2

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Reportable Segments Summarized Financial Information	Segment information for the three-month and six-month periods ended June 30, 2024 and 2023 were as follows (in thousands). Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales: Energy Storage $ 830,110  $ 1,763,065  $ 1,631,008  $ 3,706,747  Specialties 334,600  371,302  650,665  790,080  Ketjen 265,675  235,823  509,448  453,615  Total net sales $ 1,430,385  $ 2,370,190  $ 2,791,121  $ 4,950,442  Adjusted EBITDA: Energy Storage $ 282,979  $ 1,165,080  $ 480,975  $ 2,732,772  Specialties 54,175  60,200  99,356  222,358  Ketjen 37,836  42,882  59,815  57,425  Total segment adjusted EBITDA $ 374,990  $ 1,268,162  $ 640,146  $ 3,012,555  Depreciation and amortization: Energy Storage $ 100,433  $ 56,540  $ 187,707  $ 108,702  Specialties 23,170  21,299  45,607  41,191  Ketjen 12,937  13,084  25,294  26,227  Total segment depreciation and amortization 136,540  90,923  258,608  176,120  Corporate 1,739  2,162  3,422  4,236  Total depreciation and amortization $ 138,279  $ 93,085  $ 262,030  $ 180,356  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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Total segment adjusted EBITDA $ 374,990  $ 1,268,162  $ 640,146  $ 3,012,555  Corporate expenses, net 11,370  (1,920) 37,450  15,391  Depreciation and amortization (138,279) (93,085) (262,030) (180,356) Interest and financing expenses (35,187) (25,577) (73,156) (52,354) Income tax benefit (expense) 30,660  (42,987) 34,381  (319,950) Proportionate share of Windfield income tax expense(a) (119,780) (233,976) (193,469) (399,961) Acquisition and integration related costs(b) (1,581) (6,502) (3,488) (11,610) Restructuring and other charges(c) (2,525) (7,439) (18,861) (7,439) Capital project assets write-off(c) (294,940) —  (314,889) —  Non-operating pension and OPEB items 337  (612) 662  (1,213) (Loss) gain in fair value of public equity securities(d) (17,780) 15,020  (60,939) 60,846  Legal accrual(e) —  (218,510) —  (218,510) Other(f) 4,517  (2,531) 28,443  (8,776) Net (loss) income attributable to Albemarle Corporation $ (188,198) $ 650,043  $ (185,750) $ 1,888,623  (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 8, “Restructuring and Capital Project Assets Write-off,” for further details. (d)Loss of $17.8 million and $27.2 million recorded in Other income, net for the three and six months ended June 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 income, net for the six months ended June 30, 2024 resulting from the sale of investments in public equity securities. Gain of $15.0 million and $60.8 million recorded in Other income, net for the three and six months ended June 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 June 30, 2024 recorded in: •SG&A - $5.1 million of expenses related to certain historical legal and environmental matters. •Other income, net - $8.9 million of income from PIK dividends of preferred equity in a Grace subsidiary and a $0.6 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations. Included amounts for the three months ended June 30, 2023 recorded in: •SG&A - $0.7 million of facility closure expenses related to offices in Germany and $0.6 million primarily related to shortfall contributions for a multiemployer plan financial improvement plan. •Other income, net - $3.9 million of a loss resulting from the adjustment of indemnification related to previously disposed businesses, partially offset by a $2.7 million gain in the fair value of preferred equity of a Grace subsidiary. Included amounts for the six months ended June 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 - $5.2 million of expenses related to certain historical legal and environmental matters. •Other income, net - $17.6 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 $2.4 million gain primarily resulting from the adjustment of indemnification related to a previously disposed business and a $0.6 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations, partially offset by $2.9 million of charges for asset retirement obligations at a site not part of our operations. Included amounts for the six months ended June 30, 2023 recorded in: •SG&A - $1.9 million of charges primarily for environmental reserves at sites not part of our operations, $1.4 million of facility closure expenses related to offices in Germany and $0.6 million primarily related to shortfall contributions for a multiemployer plan financial improvement plan. •Other income, net - $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, partially offset by a $2.7 million gain in the fair value of preferred equity of a Grace subsidiary.

v3.24.2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 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. June 30, 2024 December 31, 2023 Recorded Amount Fair Value Recorded Amount Fair Value (In thousands) Long-term debt $ 3,540,851  $ 3,342,861  $ 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 foreign currency forward contracts included in the consolidated balance sheets as of June 30, 2024 and December 31, 2023 (in thousands): June 30, 2024 December 31, 2023 Assets Liabilities Assets Liabilities Designated as hedging instruments Other current assets $ —  $ —  $ 3,489  $ —  Other assets —  —  11,704  —  Accrued expenses —  1,250  —  446  Other noncurrent liabilities —  888  —  —  Total designated as hedging instruments —  2,138  15,193  446  Not designated as hedging instruments Other current assets 1,036  —  2,636  —  Other assets 12  —  —  —  Accrued expenses —  2,686  —  5,306  Other noncurrent liabilities —  2,686  —  —  Total not designated as hedging instruments 1,048  5,372  2,636  5,306  Total $ 1,048  $ 7,510  $ 17,829  $ 5,752
Derivative Instruments, Losses	The following table summarizes the net gains (losses) recognized for our foreign currency forward contracts during the three-month and six-month periods ended June 30, 2024 and 2023 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Designated as hedging instruments Income (loss) recognized in Other comprehensive (loss) income $ 4,060  $ 1,026  $ (17,282) $ 2,127  Loss recognized in Other income, net $ (2,557) $ —  $ (5,239) $ —  Not designated as hedging instruments (Loss) income recognized in Other income, net(a) $ (1,847) $ 208,174  $ 12,975  $ 243,407  (a)    Fluctuations in the value of our foreign currency forward contracts not designated as hedging instruments are generally expected to be offset by changes in the value of the underlying exposures being hedged, which are also reported in Other income, net.

v3.24.2

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 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 June 30, 2024 and December 31, 2023 (in thousands): June 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) $ 297,761  $ —  $ —  $ 297,761  Investments under executive deferred compensation plan(b) $ 34,663  $ 34,663  $ —  $ —  Public equity securities(c) $ 27,730  $ 27,730  $ —  $ —  Private equity securities measured at net asset value(d)(e) $ 4,534  $ —  $ —  $ —  Foreign currency forward contracts(f) $ 1,048  $ —  $ 1,048  $ —  Liabilities: Obligations under executive deferred compensation plan(b) $ 34,663  $ 34,663  $ —  $ —  Foreign currency forward contracts(f) $ 7,510  $ —  $ 7,510  $ —  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  $ —  $ —  $ —  Foreign currency forward contracts(f) $ 17,829  $ —  $ 17,829  $ —  Liabilities: Obligations under executive deferred compensation plan(b) $ 33,564  $ 33,564  $ —  $ —  Foreign currency forward contracts(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 reported in Other income, net in our consolidated statements of (loss) income. See Note 3, “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 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)As a result of our global operating and financing activities, we are exposed to market risks from changes in foreign currency exchange rates which may adversely affect our operating results and financial position. When deemed appropriate, we minimize our risks from foreign currency exchange rate fluctuations through the use of foreign currency forward contracts. The foreign currency forward contracts are valued using broker quotations or market transactions in either the listed or over-the-counter markets. As such, these derivative instruments are classified within Level 2. See Note 14, “Fair Value of Financial Instruments,” for further details about our foreign currency forward contracts.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables set forth the reconciliation of the beginning and ending balance for the Level 3 recurring fair value measurements (in thousands): Available for Sale Debt Securities Beginning balance at December 31, 2023 $ 289,307  PIK dividends 17,619  Cash received for tax liability (9,165) Ending balance at June 30, 2024 $ 297,761

v3.24.2

Related Party Transactions (Tables)	6 Months Ended
	Jun. 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Sales to unconsolidated affiliates $ 227  $ 3,673  $ 2,185  $ 10,773  Purchases from unconsolidated affiliates(a) $ 181,256  $ 1,114,944  $ 318,453  $ 2,187,488  (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): June 30, 2024 December 31, 2023 Receivables from unconsolidated affiliates $ 915  $ 15,992  Payables to unconsolidated affiliates(a) $ 184,198  $ 550,186  (a)Payables to unconsolidated affiliates primarily relate to spodumene purchased from the Company’s Windfield joint venture under normal payment terms.

v3.24.2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 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): Six Months Ended June 30, 2024 2023 Supplemental non-cash disclosure related to investing and financing activities: Capital expenditures included in Accounts payable $ 320,773  $ 408,998  Common stock issued for annual incentive bonus plan(a) 11,545  —  (a)During the six-month period ended June 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.

v3.24.2

Inventories - Breakdown of inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 1,203,222	$ 1,624,893
Raw materials and work in process	448,372	401,050
Stores, supplies and other	148,520	135,344
Total inventories	$ 1,800,114	$ 2,161,287

v3.24.2

Inventories - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 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	$ 237.7	559.6
Energy Storage
Inventory [Line Items]
Work in process related to Lithium	$ 274.3	$ 213.4

v3.24.2

Investments (Details) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended		9 Months Ended
	Oct. 18, 2023	Jun. 01, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Schedule of Investments [Line Items]
Income (Loss) from Equity Method Investments			$ 286,878	$ 551,051	$ 467,378	$ 947,239
Net sales			1,430,385	2,370,190	2,791,121	4,950,442
Gross profit			(10,578)	558,487	28,360	1,835,027
Net (loss) income			(176,594)	676,439	(159,947)	1,953,142
Equity Securities, Purchases						121,900
Mark-to-market (loss) gain on public equity securities			(17,800)	15,000	(27,200)	60,800
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	297,800		297,800		$ 289,300
Preferred Stock, Dividend Rate, Percentage		12.00%
Preferred equity redemption original value threshold		200.00%
Significant Unconsolidated Joint Ventures
Schedule of Investments [Line Items]
Net sales			541,982	2,319,020	731,991	4,278,318
Gross profit			391,610	2,244,236	541,592	4,145,936
Income before income taxes			326,322	2,151,879	420,952	3,936,029
Net (loss) income			226,689	1,506,326	293,100	2,755,228
Windfield Holdings
Schedule of Investments [Line Items]
Carrying value of unconsolidated investment			626,700		626,700		712,000
Windfield Holdings
Schedule of Investments [Line Items]
Income (Loss) from Equity Method Investments			$ 278,995	545,943	$ 451,674	933,242
Equity method investment, ownership percentage			49.00%		49.00%
Windfield Holdings | Windfield Holdings
Schedule of Investments [Line Items]
Equity method investment, ownership percentage			49.00%		49.00%
Other Joint Ventures
Schedule of Investments [Line Items]
Income (Loss) from Equity Method Investments			$ 7,883	$ 5,108	$ 15,704	$ 13,997
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	40.00%
Mineral Resources Limited Wodgina Project
Schedule of Investments [Line Items]
Ownership percentage	50.00%

v3.24.2

Goodwill and Other Intangibles - Changes in Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,629,729
Foreign currency translation adjustments	(28,791)
Balance at end of period	1,600,938
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	(22,719)
Balance at end of period	1,401,765
Reportable Segments | Specialties
Goodwill [Roll Forward]
Balance at beginning of period	32,639
Foreign currency translation adjustments	(51)
Balance at end of period	32,588
Reportable Segments | Ketjen
Goodwill [Roll Forward]
Balance at beginning of period	172,606
Foreign currency translation adjustments	(6,021)
Balance at end of period	$ 166,585

v3.24.2

Goodwill and Other Intangibles - Other Intangibles (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 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	(13,116)
Gross Asset Value, End of Period	477,804
Accumulated Amortization, Beginning of Period	(250,286)
Amortization	(11,605)
Retirements	21,224
Foreign currency translation adjustments and other	6,198
Accumulated Amortization, End of Period	(234,469)
Net Book Value	243,335	$ 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	(11,338)
Gross Asset Value, End of Period	406,465
Accumulated Amortization, Beginning of Period	(204,481)
Amortization	(9,877)
Retirements	0
Foreign currency translation adjustments and other	5,409
Accumulated Amortization, End of Period	(208,949)
Net Book Value	197,516	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	(264)
Gross Asset Value, End of Period	10,832
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	9,508	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	(745)
Gross Asset Value, End of Period	31,036
Accumulated Amortization, Beginning of Period	(26,758)
Amortization	(1,276)
Retirements	14,506
Foreign currency translation adjustments and other	453
Accumulated Amortization, End of Period	(13,075)
Net Book Value	17,961	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	(769)
Gross Asset Value, End of Period	29,471
Accumulated Amortization, Beginning of Period	(15,374)
Amortization	(452)
Retirements	4,409
Foreign currency translation adjustments and other	296
Accumulated Amortization, End of Period	(11,121)
Net Book Value	$ 18,350	$ 19,275

v3.24.2

Long-Term Debt (Details)		3 Months Ended					6 Months Ended
	Oct. 28, 2022 USD ($)	Sep. 30, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024 USD ($)	Mar. 31, 2024	Jun. 30, 2025	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Total long-term Debt					$ 3,522,717,000			$ 3,522,717,000		$ 4,166,763,000
Unamortized discount and debt issuance costs					(97,338,000)			(97,338,000)		(105,992,000)
Current portion of long-term debt					3,213,000			3,213,000		625,761,000
Long-term debt					3,519,504,000			3,519,504,000		3,541,002,000
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	1.125%
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					5.00	3.50
Credit facilities | Forecast
Debt Instrument [Line Items]
Debt covenant ratio, maximum debt to EBITDA		3.50	4.00	5.50			3.75
Debt covenant ratio, minimum EBITDA to interest charges		3.00					2.00
Revolving credit facility
Debt Instrument [Line Items]
Debt Covenant					$ 500,000,000			500,000,000
Unsecured debt | 1.125% Notes
Debt Instrument [Line Items]
Total long-term Debt					$ 402,661,000			$ 402,661,000		$ 416,501,000
Debt instrument, interest rate					1.125%			1.125%		1.125%
Unsecured debt | 1.625% Notes
Debt Instrument [Line Items]
Total long-term Debt					$ 533,850,000			$ 533,850,000		$ 552,200,000
Debt instrument, interest rate					1.625%			1.625%		1.625%
Senior notes | 3.45% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt					$ 171,612,000			$ 171,612,000		$ 171,612,000
Debt instrument, interest rate					3.45%			3.45%		3.45%
Senior notes | 4.65% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt					$ 650,000,000			$ 650,000,000		$ 650,000,000
Debt instrument, interest rate					4.65%			4.65%		4.65%
Senior notes | 5.05% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt					$ 600,000,000			$ 600,000,000		$ 600,000,000
Debt instrument, interest rate					5.05%			5.05%		5.05%
Senior notes | 5.45% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt					$ 350,000,000			$ 350,000,000		$ 350,000,000
Debt instrument, interest rate					5.45%			5.45%		5.45%
Senior notes | 5.65% Senior Notes
Debt Instrument [Line Items]
Total long-term Debt					$ 450,000,000			$ 450,000,000		$ 450,000,000
Debt instrument, interest rate					5.65%			5.65%		5.65%
Commercial paper notes
Debt Instrument [Line Items]
Total long-term Debt					$ 0			$ 0		$ 620,000,000
Interest-free loan
Debt Instrument [Line Items]
Total long-term Debt					300,000,000			300,000,000		300,000,000
Variable-rate foreign bank loans
Debt Instrument [Line Items]
Total long-term Debt					26,832,000			26,832,000		30,197,000
Finance lease obligations
Debt Instrument [Line Items]
Total long-term Debt					113,100,000			113,100,000		110,245,000
Other
Debt Instrument [Line Items]
Total long-term Debt					$ 22,000,000			$ 22,000,000		$ 22,000,000

v3.24.2

Commitments and Contingencies - Activity in Recorded Environmental Liabilities (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at beginning of period	$ 34,149
Expenditures	(1,060)
Accretion of discount	576
Liability releases	(2,570)
Foreign currency translation adjustments and other	54
Balance at end of period	31,149
Less amounts reported in Accrued expenses	6,694
Amounts reported in Other noncurrent liabilities	$ 24,455

v3.24.2

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Loss Contingencies [Line Items]
Environmental remediation liabilities - discounted	$ 25.2	$ 27.4
Accrual for environmental loss contingencies - weighted-average discount rate	3.60%	3.70%
Environmental remediation liabilities - undiscounted	$ 52.0	$ 55.4
Potential revision on future environmental remediation costs before tax	48.0
Other noncurrent liabilities
Loss Contingencies [Line Items]
Tax indemnification liability	$ 12.0	$ 14.5

v3.24.2

Equity - Additional Information (Details) $ / shares in Units, $ in Thousands				6 Months Ended
	Aug. 15, 2024 $ / shares	May 15, 2024 $ / shares	Mar. 08, 2024 d $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($)	Jul. 16, 2024 $ / shares	May 10, 2024 shares	May 09, 2024 $ / shares shares	May 07, 2024 $ / shares	Dec. 31, 2023 $ / shares shares
Class of Stock [Line Items]
Cash dividend, amount per share (in dollars per share) | $ / shares									$ 0.40
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
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
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, Dividends Per Share, Declared | $ / shares		$ 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, Dividends Per Share, Declared | $ / shares	$ 18.125

v3.24.2

Equity - Components and Activity in Accumulated Other Comprehensive (Loss) Income Net of Deferred Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	$ 11,799,719	$ 9,459,070	$ 9,665,099	$ 8,190,847
Other comprehensive (loss) income before reclassifications	(42,707)	(4,626)	(114,286)	42,675
Amounts reclassified from accumulated other comprehensive loss	2,573	17	5,272	33
Total other comprehensive (loss) income, net of tax	(40,134)	(4,609)	(109,014)	42,708
Other comprehensive (income) loss attributable to noncontrolling interests	(212)	0	(11)	8
Ending Balance	11,483,155	10,088,040	11,483,155	10,088,040
Foreign Currency Translation and Other
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(586,620)	(516,662)	(536,601)	(562,886)
Other comprehensive (loss) income before reclassifications	(46,767)	(5,652)	(97,004)	40,548
Amounts reclassified from accumulated other comprehensive loss	16	17	33	33
Total other comprehensive (loss) income, net of tax	(46,751)	(5,635)	(96,971)	40,581
Other comprehensive (income) loss attributable to noncontrolling interests	(212)	0	(11)	8
Ending Balance	(633,583)	(522,297)	(633,583)	(522,297)
Cash Flow Hedge
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(10,585)	3,325	8,075	2,224
Other comprehensive (loss) income before reclassifications	4,060	1,026	(17,282)	2,127
Amounts reclassified from accumulated other comprehensive loss	2,557	0	5,239	0
Total other comprehensive (loss) income, net of tax	6,617	1,026	(12,043)	2,127
Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending Balance	(3,968)	4,351	(3,968)	4,351
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(597,205)	(513,337)	(528,526)	(560,662)
Total other comprehensive (loss) income, net of tax	(40,346)	(4,609)	(109,025)	42,716
Ending Balance	$ (637,551)	$ (517,946)	$ (637,551)	$ (517,946)

v3.24.2

Equity - Amount of Income Tax Benefit (Expense) Allocated to Component of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	$ (37,294)	$ (4,605)	$ (114,168)	$ 42,474
Income tax (expense) benefit	(2,840)	(4)	5,154	234
Total other comprehensive (loss) income, net of tax	(40,134)	(4,609)	(109,014)	42,708
Foreign Currency Translation and Other
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	(46,747)	(5,631)	(96,964)	40,347
Income tax (expense) benefit	(4)	(4)	(7)	234
Total other comprehensive (loss) income, net of tax	(46,751)	(5,635)	(96,971)	40,581
Cash Flow Hedge
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other comprehensive income (loss), before tax	9,453	1,026	(17,204)	2,127
Income tax (expense) benefit	(2,836)	0	5,161	0
Total other comprehensive (loss) income, net of tax	$ 6,617	$ 1,026	$ (12,043)	$ 2,127

v3.24.2

Restructuring and Related Activities (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Capital project assets write-off		$ 292,315	$ 0	$ 309,515	$ 0
Restructuring and other charges		2,525	7,439	18,861	7,439
Subsequent Event | Minimum
Restructuring Cost and Reserve [Line Items]
Capital project assets write-off	$ 900,000
Subsequent Event | Maximum
Restructuring Cost and Reserve [Line Items]
Capital project assets write-off	1,100,000
Subsequent Event | Kemerton Train 3 | Minimum
Restructuring Cost and Reserve [Line Items]
Capital project assets write-off	725,000
Subsequent Event | Kemerton Train 3 | Maximum
Restructuring Cost and Reserve [Line Items]
Capital project assets write-off	$ 800,000
Operating Income (Loss)
Restructuring Cost and Reserve [Line Items]
Capital project assets write-off		292,300		309,500
Other income, net
Restructuring Cost and Reserve [Line Items]
Capital project assets write-off		2,600		5,400
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges		$ 2,500	$ 7,400	$ 18,900	$ 7,400

v3.24.2

Pension Plans and Other Postretirement Benefits - Domestic and Foreign Pension and Postretirement Defined Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Total net pension and postretirement benefits cost	$ 1,256	$ 1,979	$ 2,529	$ 3,933
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,563	1,334	3,129	2,655
Interest cost	8,140	8,558	16,285	17,100
Expected return on assets	(8,838)	(8,415)	(17,668)	(16,824)
Amortization of prior service benefit	19	21	39	41
Total net pension and postretirement benefits cost	884	1,498	1,785	2,972
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	11	12	23	24
Interest cost	361	469	721	937
Total net pension and postretirement benefits cost	$ 372	$ 481	$ 744	$ 961

v3.24.2

Pension Plans and Other Postretirement Benefits - Pension and Postretirement Plan Contributions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Employer contributions	$ 4.6	$ 5.8	$ 9.4	$ 8.6

v3.24.2

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	6.20%	25.50%	5.20%	24.10%
Federal statutory rate			21.00%

v3.24.2

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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic earnings per share from continuing operations
Net (loss) income attributable to Albemarle Corporation	$ (188,198)	$ 650,043	$ (185,750)	$ 1,888,623
Mandatory convertible preferred stock dividends	(41,688)	0	(53,272)	0
Net (loss) income attributable to Albemarle Corporation common shareholders	$ (229,886)	$ 650,043	$ (239,022)	$ 1,888,623
Weighted-average common shares for basic earnings per share (in shares)	117,528	117,332	117,489	117,282
Basic (loss) earnings per share attributable to common shareholders (in dollars per share)	$ (1.96)	$ 5.54	$ (2.03)	$ 16.10
Diluted earnings per share from continuing operations
Net (loss) income attributable to Albemarle Corporation	$ (188,198)	$ 650,043	$ (185,750)	$ 1,888,623
Mandatory convertible preferred stock dividends	(41,688)	0	(53,272)	0
Net (loss) income attributable to Albemarle Corporation common shareholders	$ (229,886)	$ 650,043	$ (239,022)	$ 1,888,623
Weighted-average common shares for basic earnings per share (in shares)	117,528	117,332	117,489	117,282
Incremental shares under stock compensation plans (in shares)	0	437	0	523
Weighted-average common shares outstanding - diluted (in shares)	117,528	117,769	117,489	117,805
Diluted (loss) earnings per share attributable to common shareholders (in dollars per share)	$ (1.96)	$ 5.52	$ (2.03)	$ 16.03

v3.24.2

Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 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	19,411	0	12,841	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	1,140	51	1,018	36

v3.24.2

Leases - Additional Information (Details)	Jun. 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

v3.24.2

Leases - Leases Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease cost	$ 9,572	$ 14,311	$ 19,118	$ 26,062
Amortization of right of use assets	2,357	1,935	3,665	2,780
Interest on lease liabilities	1,742	1,635	3,201	2,694
Total finance lease cost	4,099	3,570	6,866	5,474
Short-term lease cost	8,786	4,860	14,804	9,920
Variable lease cost	9,215	4,766	17,012	8,275
Total lease cost	$ 31,672	$ 27,507	$ 57,800	$ 49,731

v3.24.2

Leases - Leases Cash Flow (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating cash flows from operating leases	$ 18,022	$ 24,816
Operating cash flows from finance leases	6,318	2,400
Financing cash flows from finance leases	2,722	1,081
Right-of-use asset obtained in exchange for operating leases	9,449	30,581
Right-of-use asset obtained in exchange for financing leases	$ 6,200	$ 46,773

v3.24.2

Leases - Leases Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Other assets	$ 129,486	$ 137,405
Accrued expenses	28,368	30,583
Other noncurrent liabilities	108,404	113,681
Total operating lease liabilities	136,772	144,264
Net property, plant and equipment	114,509	112,438
Current portion of long-term debt	6,697	9,702
Long-term debt	109,887	104,484
Total finance lease liabilities	$ 116,584	$ 114,186
Weighted average remaining lease term, operating leases	12 years 8 months 12 days	12 years 2 months 12 days
Weighted average remaining lease term, finance leases	20 years 7 months 6 days	20 years 8 months 12 days
Weighted average discount rate, operating leases, percent	4.66%	4.74%
Weighted average discount rate, finance leases, percent	5.61%	4.71%

v3.24.2

Leases - Leases Maturity Table (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Operating Leases
Remainder of 2024	$ 16,362
2025	30,762
2026	22,355
2027	17,011
2028	12,382
Thereafter	108,091
Total lease payments	206,963
Less imputed interest	70,191
Total operating lease liabilities	136,772	$ 144,264
Finance Leases
Remainder of 2024	5,690
2025	10,739
2026	10,098
2027	10,098
2028	10,098
Thereafter	141,265
Total lease payments	187,988
Less imputed interest	71,404
Total finance lease liabilities	$ 116,584	$ 114,186

v3.24.2

Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	3

v3.24.2

Segment Information - Summarized Financial Information by Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,430,385	$ 2,370,190	$ 2,791,121	$ 4,950,442
Depreciation and amortization	(138,279)	(93,085)	(262,030)	(180,356)
Interest and financing expenses	(35,187)	(25,577)	(73,156)	(52,354)
Income tax benefit (expense)	30,660	(42,987)	34,381	(319,950)
Proportionate share of Windfield income tax expense	(119,780)	(233,976)	(193,469)	(399,961)
Acquisition and integration related costs	(1,581)	(6,502)	(3,488)	(11,610)
Restructuring and other charges	(2,525)	(7,439)	(18,861)	(7,439)
Capital Project Assets Write-off and OCI Reclass	(294,940)	0	(314,889)	0
Non-operating pension and OPEB items	337	(612)	662	(1,213)
(Loss) gain in fair value of public equity securities	(17,780)	15,020	(60,939)	60,846
Legal Accrual	0	(218,510)	0	(218,510)
Other	4,517	(2,531)	28,443	(8,776)
Net (loss) income attributable to Albemarle Corporation	(188,198)	650,043	(185,750)	1,888,623
Reportable Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	374,990	1,268,162	640,146	3,012,555
Depreciation and amortization	(136,540)	(90,923)	(258,608)	(176,120)
Reportable Segments | Energy Storage
Segment Reporting Information [Line Items]
Net sales	830,110	1,763,065	1,631,008	3,706,747
Adjusted EBITDA	282,979	1,165,080	480,975	2,732,772
Depreciation and amortization	(100,433)	(56,540)	(187,707)	(108,702)
Reportable Segments | Specialties
Segment Reporting Information [Line Items]
Net sales	334,600	371,302	650,665	790,080
Adjusted EBITDA	54,175	60,200	99,356	222,358
Depreciation and amortization	(23,170)	(21,299)	(45,607)	(41,191)
Reportable Segments | Ketjen
Segment Reporting Information [Line Items]
Net sales	265,675	235,823	509,448	453,615
Adjusted EBITDA	37,836	42,882	59,815	57,425
Depreciation and amortization	(12,937)	(13,084)	(25,294)	(26,227)
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA	11,370	(1,920)	37,450	15,391
Depreciation and amortization	$ (1,739)	$ (2,162)	$ (3,422)	$ (4,236)

v3.24.2

Segment Information - Summarized Financial Information by Reportable Segments (Footnote) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Mark-to-market (loss) gain on public equity securities	$ (17,800)	$ 15,000	$ (27,200)	$ 60,800
(Loss) gain in fair value of public equity securities	(17,780)	15,020	(60,939)	60,846
Liability releases			(2,570)
Selling, general and administrative expenses
Segment Reporting Information [Line Items]
Legal costs	5,100		5,200
Liability releases				1,900
Other restructuring costs		700		1,400
Multiemployer plan, period contributions		600		600
Other income, net
Segment Reporting Information [Line Items]
Mark-to-market (loss) gain on public equity securities	(17,800)	15,000	(27,200)	60,800
(Loss) gain in fair value of public equity securities			(33,700)
Preferred equity gain	8,900	2,700	17,600	2,700
Liability releases	$ 600		600
Revision of tax indemnification expense (gain) loss		$ (3,900)	2,400	(3,900)
Gain (loss) on sale of assets			17,300
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	49.00%		49.00%

v3.24.2

Fair Value of Financial Instruments - Fair Value of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Total long-term debt, excluding debt issuance costs	$ 3,540,851	$ 4,186,532
Total long-term debt, fair value, excluding debt issuance costs	$ 3,342,861	$ 4,021,693

v3.24.2

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Fair Value, Option, Quantitative Disclosures [Line Items]
Foreign currency forward contracts, assets	$ 1,048		$ 1,048		$ 17,829
Foreign currency forward contracts, liabilities	7,510		7,510		5,752
Income (loss) recognized in Other comprehensive (loss) income	6,617	$ 1,026	(12,043)	$ 2,127
Forward contracts | Other, net
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, Cash Received on Hedge			11,200	224,200
Forward contracts | Designated as Hedging Instrument
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, notional amount	839,300		839,300		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	2,138		2,138		446
Income (loss) recognized in Other comprehensive (loss) income	4,060	1,026	(17,282)	2,127
Loss recognized in Other income, net	(2,557)	0	(5,239)	0
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	1,250		1,250		446
Forward contracts | Designated as Hedging Instrument | Other noncurrent liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts designated as hedging instruments, liabilities	888		888
Forward contracts | Not Designated as Hedging Instrument
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative, notional amount	5,900,000		5,900,000		7,100,000
Fair value foreign currency forward contracts not designated as hedging instruments, asset	1,048		1,048		2,636
Fair value foreign currency forward contracts not designated as hedging instruments, liabilities	5,372		5,372		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	1,036		1,036		2,636
Forward contracts | Not Designated as Hedging Instrument | Other assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value foreign currency forward contracts not designated as hedging instruments, asset	12		12
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	2,686		2,686		$ 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	2,686		2,686
Forward contracts | Not Designated as Hedging Instrument | Other income, net
Fair Value, Option, Quantitative Disclosures [Line Items]
Income recognized in Other income, net	$ (1,847)	$ 208,174	$ 12,975	$ 243,407

v3.24.2

Fair Value Measurement (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale debt securities	$ 297,761	$ 289,307
Investments under executive deferred compensation plan	34,663	33,564
Private equity securities	27,730	168,928
Private equity securities measured at net asset value	4,534	4,536
Foreign currency forward contracts, assets	1,048	17,829
Obligations under executive deferred compensation plan	34,663	33,564
Foreign currency forward contracts, liabilities	7,510	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	17,619
Cash received for tax liability	(9,165)
Ending balance at June 30, 2024	297,761
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	34,663	33,564
Private equity securities	27,730	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	34,663	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	1,048	17,829
Obligations under executive deferred compensation plan	0	0
Foreign currency forward contracts, liabilities	7,510	5,752
Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale debt securities	297,761	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

v3.24.2

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Net sales	$ 1,430,385	$ 2,370,190	$ 2,791,121	$ 4,950,442
Other accounts receivable	412,181		412,181		$ 509,097
Unconsolidated Affiliates
Related Party Transaction [Line Items]
Net sales	227	3,673	2,185	10,773
Purchases from unconsolidated affiliates	181,256	$ 1,114,944	318,453	$ 2,187,488
Other accounts receivable	915		915		15,992
Accounts payable	$ 184,198		$ 184,198		$ 550,186

v3.24.2

Supplemental Cash Flow Information - Schedule of supplemental information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Supplemental Cash Flow Information [Abstract]
Capital expenditures included in Accounts payable	$ 320,773	$ 408,998
Common stock issued for annual incentive bonus plan	$ 11,545	$ 0
Common stock issued to employees	95,003

v3.24.2

Supplemental Cash Flow Information - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Cash Flows [Abstract]
One Time Transition Tax, Reclassification	$ 82.7	$ 64.4

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