Attached files
| file | filename |
|---|---|
| EX-23.1 - EXHIBIT 23.1 - ALBEMARLE CORP | exhibit2311231201510-k.htm |
| EX-21.1 - EXHIBIT 21.1 - ALBEMARLE CORP | exhibit2111231201510-k.htm |
| EX-31.1 - EXHIBIT 31.1 - ALBEMARLE CORP | exhibit3111231201510-k.htm |
| EX-10.29 - EXHIBIT 10.29 - ALBEMARLE CORP | exhibit10291231201510-k.htm |
| EX-10.20 - EXHIBIT 10.20 - ALBEMARLE CORP | exhibit10201231201510-k.htm |
| EX-10.21 - EXHIBIT 10.21 - ALBEMARLE CORP | exhibit10211231201510-k.htm |
| EX-10.19 - EXHIBIT 10.19 - ALBEMARLE CORP | exhibit10191231201510-k.htm |
| EX-10.30 - EXHIBIT 10.30 - ALBEMARLE CORP | exhibit10301231201510-k.htm |
| EX-12.1 - EXHIBIT 12.1 - ALBEMARLE CORP | exhibit1211231201510-k.htm |
| EX-32.1 - EXHIBIT 32.1 - ALBEMARLE CORP | exhibit3211231201510-k.htm |
| 10-K - 10-K - ALBEMARLE CORP | a1231201510-kdocument.htm |
| EX-10.14 - EXHIBIT 10.14 - ALBEMARLE CORP | exhibit10141231201510-k.htm |
| EX-10.28 - EXHIBIT 10.28 - ALBEMARLE CORP | exhibit10281231201510-k.htm |
Exhibit 99.1
FIVE-YEAR SUMMARY | ||||||||||||||||||||
(In Thousands, Except for Per Share Amounts and Footnote Data) | ||||||||||||||||||||
Year Ended December 31 | 2015 (a) | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Results of Operations | ||||||||||||||||||||
Net sales | $ | 3,651,335 | $ | 2,445,548 | $ | 2,394,270 | $ | 2,519,154 | $ | 2,651,667 | ||||||||||
Costs and expenses | 3,208,900 | 2,174,250 | 1,817,595 | 2,119,371 | 2,131,919 | |||||||||||||||
Operating profit | 442,435 | 271,298 | 576,675 | 399,783 | 519,748 | |||||||||||||||
Interest and financing expenses | (132,722 | ) | (41,358 | ) | (31,559 | ) | (32,800 | ) | (37,574 | ) | ||||||||||
Other income (expenses), net | 48,474 | (16,761 | ) | (6,674 | ) | 1,229 | 357 | |||||||||||||
Income from continuing operations before income taxes and equity in net income of unconsolidated investments | 358,187 | 213,179 | 538,442 | 368,212 | 482,531 | |||||||||||||||
Income tax expense | 29,122 | 18,484 | 134,445 | 80,433 | 104,471 | |||||||||||||||
Income from continuing operations before equity in net income of unconsolidated investments | 329,065 | 194,695 | 403,997 | 287,779 | 378,060 | |||||||||||||||
Equity in net income of unconsolidated investments (net of tax) | 30,999 | 35,742 | 31,729 | 38,067 | 43,754 | |||||||||||||||
Net income from continuing operations | 360,064 | 230,437 | 435,726 | 325,846 | 421,814 | |||||||||||||||
(Loss) income from discontinued operations (net of tax) | — | (69,531 | ) | 4,108 | 4,281 | (1,617 | ) | |||||||||||||
Net income | 360,064 | 160,906 | 439,834 | 330,127 | 420,197 | |||||||||||||||
Net income attributable to noncontrolling interests | (25,158 | ) | (27,590 | ) | (26,663 | ) | (18,591 | ) | (28,083 | ) | ||||||||||
Net income attributable to Albemarle Corporation | $ | 334,906 | $ | 133,316 | $ | 413,171 | $ | 311,536 | $ | 392,114 | ||||||||||
Financial Position and Other Data | ||||||||||||||||||||
Total assets | $ | 9,615,014 | $ | 5,223,103 | $ | 3,584,797 | $ | 3,437,291 | $ | 3,203,824 | ||||||||||
Operations: | ||||||||||||||||||||
Working capital | $ | 214,318 | $ | 2,208,964 | $ | 1,046,552 | $ | 1,022,304 | $ | 954,442 | ||||||||||
Current ratio | 1.13 | 2.94 | 3.40 | 3.66 | 3.38 | |||||||||||||||
Depreciation and amortization | $ | 260,076 | $ | 103,572 | $ | 107,370 | $ | 99,020 | $ | 96,753 | ||||||||||
Capital expenditures | $ | 227,649 | $ | 110,576 | $ | 155,346 | $ | 280,873 | $ | 190,574 | ||||||||||
Investments in joint ventures | $ | — | $ | — | $ | — | $ | — | $ | 10,868 | ||||||||||
Acquisitions, net of cash acquired | $ | 2,100,490 | $ | — | $ | 2,565 | $ | 3,360 | $ | 13,164 | ||||||||||
Research and development expenses | $ | 102,871 | $ | 88,310 | $ | 82,246 | $ | 78,919 | $ | 77,083 | ||||||||||
Gross profit as a % of net sales | 32.8 | 31.5 | 35.5 | 35.7 | 35.9 | |||||||||||||||
Total long-term debt | $ | 3,852,019 | $ | 2,934,131 | $ | 1,078,864 | $ | 699,288 | $ | 763,673 | ||||||||||
Total equity(b) | $ | 3,401,313 | $ | 1,488,635 | $ | 1,742,776 | $ | 1,932,008 | $ | 1,678,827 | ||||||||||
Total long-term debt as a % of total capitalization | 53.1 | 66.3 | 38.2 | 26.6 | 31.3 | |||||||||||||||
Net debt as a % of total capitalization(c) | 51.7 | 22.6 | 25.2 | 9.6 | 13.9 | |||||||||||||||
Common Stock | ||||||||||||||||||||
Basic earnings (loss) per share | ||||||||||||||||||||
Continuing operations | $ | 3.01 | $ | 2.57 | $ | 4.88 | $ | 3.44 | $ | 4.35 | ||||||||||
Discontinued operations | $ | — | $ | (0.88 | ) | $ | 0.05 | $ | 0.05 | $ | (0.02 | ) | ||||||||
Shares used to compute basic earnings per share | 111,182 | 78,696 | 83,839 | 89,189 | 90,522 | |||||||||||||||
Diluted earnings (loss) per share | ||||||||||||||||||||
Continuing operations | $ | 3.00 | $ | 2.57 | $ | 4.85 | $ | 3.42 | $ | 4.30 | ||||||||||
Discontinued operations | $ | — | $ | (0.88 | ) | $ | 0.05 | $ | 0.05 | $ | (0.02 | ) | ||||||||
Shares used to compute diluted earnings per share | 111,556 | 79,102 | 84,322 | 89,884 | 91,522 | |||||||||||||||
Cash dividends declared per share | $ | 1.16 | $ | 1.10 | $ | 0.96 | $ | 0.80 | $ | 0.67 | ||||||||||
Total equity per share(b) | $ | 30.31 | $ | 19.08 | $ | 21.77 | $ | 21.73 | $ | 18.90 | ||||||||||
Return on average total equity | 13.7 | % | 8.3 | % | 22.5 | % | 17.3 | % | 24.9 | % | ||||||||||
Footnotes:
(a) | On January 12, 2015, we completed the acquisition of Rockwood Holdings, Inc. (“Rockwood”). Results for 2015 include the operations of Rockwood commencing on January 13, 2015. |
(b) | Equity reflects the repurchase of common shares amounting to: 2015—0; 2014—2,190,254; 2013—9,198,056; 2012—1,092,767; and 2011—3,000,000. 2015 also includes the impact of 34,113,064 shares of common stock issued in connection with the acquisition of Rockwood. |
(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. |