EX-99.1 15 d437520dex991.htm FIVE-YEAR SUMMARY Five-Year Summary

Exhibit 99.1

FIVE-YEAR SUMMARY

 

(In Thousands, Except for Per Share Amounts and Footnote Data)

 

Year Ended December 31

   2012     2011(a)     2010(a)     2009(a)     2008(a)  

Results of Operations

          

Net sales

   $ 2,745,420      $ 2,869,005      $ 2,362,764      $ 2,005,394      $ 2,467,115   

Costs and expenses

     2,339,256        2,351,211        1,960,821        1,849,015        2,433,609   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating profit

     406,164        517,794        401,943        156,379        33,506   

Interest and financing expenses

     (32,800     (37,574     (25,533     (24,584     (38,175

Other income (expenses), net

     1,229        357        2,788        (1,423     601   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) before income taxes and equity in net income of unconsolidated investments

     374,593        480,577        379,198        130,372        (4,068

Income tax expense (benefit)

     82,533        104,134        87,756        (17,331     (72,415
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income before equity in net income of unconsolidated investments

     292,060        376,443        291,442        147,703        68,347   

Equity in net income of unconsolidated investments (net of tax)

     38,067        43,754        37,975        22,322        23,126   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 330,127      $ 420,197      $ 329,417      $ 170,025      $ 91,473   

Net income attributable to noncontrolling interests

     (18,591     (28,083     (13,639     (11,255     (18,806
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income attributable to Albemarle Corporation

   $ 311,536      $ 392,114      $ 315,778      $ 158,770      $ 72,667   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Financial Position and Other Data

          

Total assets

   $ 3,437,291      $ 3,203,824      $ 3,068,081      $ 2,771,557      $ 2,872,717   

Operations:

          

Working capital

   $ 1,022,304      $ 954,442      $ 984,021      $ 678,823      $ 740,556   

Current ratio

     3.66 to 1        3.38 to 1        3.70 to 1        2.92 to 1        2.69 to 1   

Depreciation and amortization

   $ 99,020      $ 96,753      $ 95,578      $ 100,513      $ 111,685   

Capital expenditures

   $ 280,873      $ 190,574      $ 75,478      $ 100,786      $ 99,736   

Investments in joint ventures

   $ —        $ 10,868      $ 1,333      $ —       $ 103   

Acquisitions, net of cash acquired

   $ 3,360      $ 13,164      $ 11,978      $ 4,017      $ 63,960   

Research and development expenses

   $ 78,919      $ 77,083      $ 58,394      $ 60,918      $ 67,292   

Gross profit as a % of net sales

     33.1        33.3        31.4        23.7        23.2   

Total long-term debt

   $ 699,288      $ 763,673      $ 860,910      $ 812,713      $ 932,264   

Total equity(b)(e)

   $ 1,932,008      $ 1,678,827      $ 1,475,746      $ 1,253,318      $ 1,116,483   

Total long-term debt as a % of total capitalization (e)

     26.6        31.3        36.8        39.3        45.5   

Net debt as a % of total capitalization (c)(e)

     9.6        13.9        17.1        27.6        36.8   

Common Stock

          

Basic earnings per share(d)

   $ 3.49      $ 4.33      $ 3.46      $ 1.73      $ 0.79   

Shares used to compute basic earnings per share (d)

     89,189        90,522        91,393        91,512        91,657   

Diluted earnings per share(d)

   $ 3.47      $ 4.28      $ 3.43      $ 1.72      $ 0.78   

Shares used to compute diluted earnings per share (d)

     89,884        91,522        92,184        92,046        92,741   

Cash dividends declared per share

   $ 0.80      $ 0.67      $ 0.56      $ 0.50      $ 0.48   

Total equity per share (b)(e)

   $ 21.73      $ 18.90      $ 16.11      $ 13.70      $ 12.27   

Return on average total equity(e)

     17.3     24.9     23.1     13.4     5.9
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Footnotes:

 

(a) In 2012, the Company elected to change its method of recognizing actuarial gains and losses for its defined benefit pension and postretirement benefit plans. Certain prior year data has been adjusted retrospectively to reflect this accounting change.

 

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(b) Equity reflects the repurchase of common shares amounting to: 2012—1,092,767; 2011—3,000,000; 2010—400,356; 2009—174,900 and 2008—4,662,700.
(c) 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.
(d) On January 1, 2009, we adopted new accounting guidance associated with share-based payment transactions considered to be participating securities. This guidance states that unvested share-based payment awards that contain nonforfeitable rights to dividends, such as certain of our restricted stock awards, are participating securities and therefore shall be included in the earnings per share calculation pursuant to the two-class method. In addition, the guidance requires all prior-period earnings per share data to be adjusted retrospectively, and as a result, all prior-period earnings per share data presented herein have been adjusted to conform to these provisions.
(e) Effective January 1, 2009, we adopted new accounting guidance requiring noncontrolling interests to be separately presented as a component of equity. Prior years have been adjusted to conform to the new guidance.

 

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