Attached files

file filename
8-K - FORM 8-K - ALBEMARLE CORPd441468d8k.htm
EX-99.4 - ALBEMARLE CORPORATION AND SUBSIDIARIES SEGMENT INCOME RECONCILIATION - ALBEMARLE CORPd441468dex994.htm
EX-99.5 - ALBEMARLE CORPORATION AND SUBSIDIARIES EARNINGS PER DILUTED SHARE - ALBEMARLE CORPd441468dex995.htm
EX-99.3 - ALBEMARLE CORPORATION AND SUBSIDIARIES SEGMENT INCOME RECONCILIATION - ALBEMARLE CORPd441468dex993.htm
EX-99.1 - ALBEMARLE CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME - ALBEMARLE CORPd441468dex991.htm
EX-99.6 - ALBEMARLE CORPORATION AND SUBSIDIARIES EARNINGS PER DILUTED SHARE - ALBEMARLE CORPd441468dex996.htm
EX-99.7 - PRESS RELEASE - ALBEMARLE CORPd441468dex997.htm

Exhibit 99.2

Albemarle Corporation and Subsidiaries

CONSOLIDATED STATEMENTS OF INCOME – QUARTERLY – AS PREVIOUSLY REPORTED

 

(In Thousands, Except Per Share Amounts; Unaudited)

 

    2012     2011  
    1st Quarter     2nd Quarter     3rd Quarter     1st Quarter     2nd Quarter     3rd Quarter     4th Quarter  

Net sales

  $ 711,704      $ 684,894      $ 661,226      $ 696,530      $ 742,108      $ 722,977      $ 707,390   

Cost of goods sold

    463,817        442,209        446,469        463,514        490,159        464,965        473,308   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

    247,887        242,685        214,757        233,016        251,949        258,012        234,082   

Selling, general and administrative expenses

    80,692        74,624        59,982        73,039        82,907        77,169        79,021   

Research and development expenses

    19,049        20,911        19,831        17,615        19,947        20,534        18,987   

Restructuring and other charges

    —          94,703        6,508        —          —          —          —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating profit

    148,146        52,447        128,436        142,362        149,095        160,309        136,074   

Interest and financing expenses

    (8,734     (8,486     (7,914     (9,592     (9,274     (9,710     (8,998

Other income (expenses), net

    (118     (688     2,370        338        (760     956        (177
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income before income taxes and equity in net income of unconsolidated investments

    139,294        43,273        122,892        133,108        139,061        151,555        126,899   

Income tax expense

    35,466        14,747        26,591        32,172        30,154        38,097        29,591   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income before equity in net income of unconsolidated investments

    103,828        28,526        96,301        100,936        108,907        113,458        97,308   

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

    8,586        12,712        7,935        12,831        14,787        9,500        6,636   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

  $ 112,414      $ 41,238      $ 104,236      $ 113,767      $ 123,694      $ 122,958      $ 103,944   

Net income attributable to noncontrolling interests

    (4,371     (3,506     (4,975     (7,187     (9,535     (6,860     (4,501
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income attributable to Albemarle Corporation

  $ 108,043      $ 37,732      $ 99,261      $ 106,580      $ 114,159      $ 116,098      $ 99,443   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings per share

  $ 1.21      $ 0.42      $ 1.11      $ 1.16      $ 1.24      $ 1.29      $ 1.12   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Diluted earnings per share

  $ 1.20      $ 0.42      $ 1.10      $ 1.15      $ 1.23      $ 1.28      $ 1.11   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Weighted-average common shares outstanding – basic

    88,997        89,414        89,327        91,633        91,713        89,935        88,805   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Weighted-average common shares outstanding – diluted

    89,947        90,051        89,879        92,517        92,795        90,958        89,819   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash dividends declared per share of common stock

  $ 0.20      $ 0.20      $ 0.20      $ 0.165      $ 0.165      $ 0.165      $ 0.175   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 


   Exhibit 99.2

 

Albemarle Corporation and Subsidiaries

  

 

CONSOLIDATED STATEMENTS OF INCOME – QUARTERLY – AS ADJUSTED

 

(In Thousands, Except Per Share Amounts; Unaudited)

 

    2012     2011  
    1st Quarter     2nd Quarter     3rd Quarter     1st Quarter     2nd Quarter     3rd Quarter     4th Quarter  

Net sales

  $ 711,704      $ 684,894      $ 661,226      $ 696,530      $ 742,108      $ 722,977      $ 707,390   

Cost of goods sold

    460,724        435,606        443,476        461,172        489,731        462,575        500,580   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

    250,980        249,288        217,750        235,358        252,377        260,402        206,810   

Selling, general and administrative expenses

    74,004        61,735        53,404        68,343        82,307        72,394        137,026   

Research and development expenses

    19,049        20,911        19,831        17,615        19,947        20,534        18,987   

Restructuring and other charges

    —          94,703        —          —          —          —          —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating profit

    157,927        71,939        144,515        149,400        150,123        167,474        50,797   

Interest and financing expenses

    (8,734     (8,486     (7,914     (9,592     (9,274     (9,710     (8,998

Other income (expenses), net

    (118     (688     2,370        338        (760     956        (177
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income before income taxes and equity in net income of unconsolidated investments

    149,075        62,765        138,971        140,146        140,089        158,720        41,622   

Income tax expense (benefit)

    39,028        21,882        32,472        34,729        30,498        40,698        (1,791
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income before equity in net income of unconsolidated investments

    110,047        40,883        106,499        105,417        109,591        118,022        43,413   

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

    8,586        12,712        7,935        12,831        14,787        9,500        6,636   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

  $ 118,633      $ 53,595      $ 114,434      $ 118,248      $ 124,378      $ 127,522      $ 50,049   

Net income attributable to noncontrolling interests

    (4,371     (3,506     (4,975     (7,187     (9,535     (6,860     (4,501
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income attributable to Albemarle Corporation

  $ 114,262      $ 50,089      $ 109,459      $ 111,061      $ 114,843      $ 120,662      $ 45,548   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings per share

  $ 1.28      $ 0.56      $ 1.23      $ 1.21      $ 1.25      $ 1.34      $ 0.51   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Diluted earnings per share

  $ 1.27      $ 0.56      $ 1.22      $ 1.20      $ 1.24      $ 1.33      $ 0.51   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Weighted-average common shares outstanding – basic

    88,997        89,414        89,327        91,633        91,713        89,935        88,805   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Weighted-average common shares outstanding – diluted

    89,947        90,051        89,879        92,517        92,795        90,958        89,819   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash dividends declared per share of common stock

  $ 0.20      $ 0.20      $ 0.20      $ 0.165      $ 0.165      $ 0.165      $ 0.175   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Additional Information

It should be noted that Net income attributable to Albemarle Corporation (“earnings”) per diluted share which excludes special items, as well as segment income, are financial measures that are not required by, or presented in accordance with, GAAP. These measures are presented below to provide additional useful measurements to review our operations, provide transparency to investors and enable period-to-period comparability of financial performance. Also included in the presentations below are reconciliations of these non-GAAP measures to their most directly comparable financial measures calculated and reported in accordance with GAAP.