EX-99.1 9 exhibit99112312013.htm EXHIBIT Exhibit 99.1 12.31.2013


Exhibit 99.1
FIVE-YEAR SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In Thousands, Except for Per Share Amounts and Footnote Data)
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31
 
2013
 
2012
 
2011
 
2010
 
2009
Results of Operations
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
2,616,416

 
$
2,745,420

 
$
2,869,005

 
$
2,362,764

 
$
2,005,394

Costs and expenses
 
2,033,507

 
2,339,256

 
2,351,211

 
1,960,821

 
1,849,015

Operating profit
 
582,909

 
406,164

 
517,794

 
401,943

 
156,379

Interest and financing expenses
 
(31,559
)
 
(32,800
)
 
(37,574
)
 
(25,533
)
 
(24,584
)
Other (expenses) income, net
 
(6,923
)
 
1,229

 
357

 
2,788

 
(1,423
)
Income before income taxes and
equity in net income of
unconsolidated investments
 
544,427

 
374,593

 
480,577

 
379,198

 
130,372

Income tax expense (benefit)
 
136,322

 
82,533

 
104,134

 
87,756

 
(17,331
)
Income before equity in net income of
unconsolidated investments
 
408,105

 
292,060

 
376,443

 
291,442

 
147,703

Equity in net income of
unconsolidated investments (net of
tax)
 
31,729

 
38,067

 
43,754

 
37,975

 
22,322

Net income
 
439,834

 
330,127

 
420,197

 
329,417

 
170,025

Net income attributable to
noncontrolling interests
 
(26,663
)
 
(18,591
)
 
(28,083
)
 
(13,639
)
 
(11,255
)
Net income attributable to Albemarle
Corporation
 
$
413,171

 
$
311,536

 
$
392,114

 
$
315,778

 
$
158,770

Financial Position and Other Data
 
 
 
 
 
 
 
 
 
 
Total assets
 
$
3,584,797

 
$
3,437,291

 
$
3,203,824

 
$
3,068,081

 
$
2,771,557

Operations:
 
 
 
 
 
 
 
 
 
 
Working capital
 
$
1,046,552

 
$
1,022,304

 
$
954,442

 
$
984,021

 
$
678,823

Current ratio
 
3.40

 
3.66

 
3.38

 
3.70

 
2.92

Depreciation and amortization
 
$
107,370

 
$
99,020

 
$
96,753

 
$
95,578

 
$
100,513

Capital expenditures
 
$
155,346

 
$
280,873

 
$
190,574

 
$
75,478

 
$
100,786

Investments in joint ventures
 
$
—

 
$
—

 
$
10,868

 
$
1,333

 
$
—

Acquisitions, net of cash acquired
 
$
2,565

 
$
3,360

 
$
13,164

 
$
11,978

 
$
4,017

Research and development
expenses
 
$
82,246

 
$
78,919

 
$
77,083

 
$
58,394

 
$
60,918

Gross profit as a % of net sales
 
32.9

 
33.1

 
33.3

 
31.4

 
23.7

Total long-term debt
 
$
1,078,864

 
$
699,288

 
$
763,673

 
$
860,910

 
$
812,713

Total equity(a)
 
$
1,742,776

 
$
1,932,008

 
$
1,678,827

 
$
1,475,746

 
$
1,253,318

Total long-term debt as a % of total
capitalization
 
38.2

 
26.6

 
31.3

 
36.8

 
39.3

Net debt as a % of total
capitalization(b)
 
25.2

 
9.6

 
13.9

 
17.1

 
27.6

Common Stock
 
 
 
 
 
 
 
 
 
 
Basic earnings per share
 
$
4.93

 
$
3.49

 
$
4.33

 
$
3.46

 
$
1.73

Shares used to compute basic
earnings per share
 
83,839

 
89,189

 
90,522

 
91,393

 
91,512

Diluted earnings per share
 
$
4.90

 
$
3.47

 
$
4.28

 
$
3.43

 
$
1.72

Shares used to compute diluted
earnings per share
 
84,322

 
89,884

 
91,522

 
92,184

 
92,046

Cash dividends declared per share
 
$
0.96

 
$
0.80

 
$
0.67

 
$
0.56

 
$
0.50

Total equity per share(a)
 
$
21.77

 
$
21.73

 
$
18.90

 
$
16.11

 
$
13.70

Return on average total equity
 
22.5
%
 
17.3
%
 
24.9
%
 
23.1
%
 
13.4
%




Footnotes:
(a)
Equity reflects the repurchase of common shares amounting to: 2013—9,198,056; 2012—1,092,767; 2011—3,000,000; 2010—400,356 and 2009—174,900.
(b)
We define net debt as total debt plus the portion of outstanding joint venture indebtedness guaranteed by us (or less the portion of outstanding joint venture indebtedness consolidated but not guaranteed by us), less cash and cash equivalents.