EX-99.2 5 exhibit9920807148k1.htm EXHIBIT Exhibit 99.2 08.07.14 8K (1)


Exhibit 99.2
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
 
$
2,394,270

 
$
2,519,154

 
$
2,651,667

 
$
2,170,500

 
$
1,843,878

Costs and expenses
 
1,817,595

 
2,119,371

 
2,131,919

 
1,779,266

 
1,700,344

Operating profit
 
576,675

 
399,783

 
519,748

 
391,234

 
143,534

Interest and financing expenses
 
(31,559
)
 
(32,800
)
 
(37,574
)
 
(25,533
)
 
(24,584
)
Other (expenses) income, net
 
(6,674
)
 
1,229

 
357

 
2,788

 
(1,423
)
Income from continuing operations
before income taxes and equity in
net income of unconsolidated
investments
 
538,442

 
368,212

 
482,531

 
368,489

 
117,527

Income tax expense (benefit)
 
134,445

 
80,433

 
104,471

 
84,183

 
(21,364
)
Income from continuing operations
before equity in net income of
unconsolidated investments
 
403,997

 
287,779

 
378,060

 
284,306

 
138,891

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

 
38,067

 
43,754

 
37,975

 
22,322

Income (loss) from continuing
operations
 
435,726

 
325,846

 
421,814

 
322,281

 
161,213

Income (loss) from discontinued
operations (net of tax)
 
4,108

 
4,281

 
(1,617
)
 
7,136

 
8,812

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
 
35.5

 
35.7

 
35.9

 
33.5

 
24.8

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
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
$
4.88

 
$
3.44

 
$
4.35

 
$
3.38

 
$
1.64

Discontinued operations
 
$
0.05

 
$
0.05

 
$
(0.02
)
 
$
0.08

 
$
0.09





Shares used to compute basic
earnings per share
 
83,839

 
89,189

 
90,522

 
91,393

 
91,512

Diluted earnings per share
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
$
4.85

 
$
3.42

 
$
4.30

 
$
3.35

 
$
1.63

Discontinued operations
 
$
0.05

 
$
0.05

 
$
(0.02
)
 
$
0.08

 
$
0.09

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.