Segment and Geographic Area Information (Tables)

12 Months Ended

Dec. 31, 2025

Summarized Financial Information by Reportable Segments

See below for a reconciliation of segment Net sales to adjusted EBITDA by segment showing significant segment expenses regularly reviewed by the CODM for the years ended December 31, 2025, 2024 and 2023 (in thousands):


	Energy Storage		Specialties		Ketjen		Total Segments
Year Ended December 31, 2025
Net sales(a)	$	2,710,035	$	1,366,435	$	1,066,263	$	5,142,733
Cost of goods sold(b)	(2,084,515)		(948,295)		(819,323)		(3,852,133)
Selling, general and administrative expenses(b)	(185,773)		(87,981)		(95,809)		(369,563)
Other segment items(c)	(7,785)		(9,002)		(26,962)		(43,749)
Equity in net income of unconsolidated investments(d)	265,253		—		26,229		291,482
Net income attributable to noncontrolling interests	—		(45,418)		—		(45,418)
Adjusted EBITDA by segment	$	697,215	$	275,739	$	150,398	$	1,123,352
Year Ended December 31, 2024
Net sales(a)	$	3,015,121	$	1,325,983	$	1,036,422	$	5,377,526
Cost of goods sold(b)	(2,992,566)		(935,017)		(810,319)		(4,737,902)
Selling, general and administrative expenses(b)	(249,805)		(93,533)		(90,653)		(433,991)
Other segment items(c)	(25,101)		(25,676)		(26,852)		(77,629)
Equity in net income of unconsolidated investments(d)	1,009,891		—		22,468		1,032,359
Net income attributable to noncontrolling interests	—		(43,253)		—		(43,253)
Adjusted EBITDA by segment	$	757,540	$	228,504	$	131,066	$	1,117,110
Year Ended December 31, 2023
Net sales(a)	$	7,078,998	$	1,482,425	$	1,055,780	$	9,617,203
Cost of goods sold(b)	(6,205,403)		(961,177)		(847,018)		(8,013,598)
Selling, general and administrative expenses(b)	(266,190)		(100,173)		(94,387)		(460,750)
Other segment items(c)	(22,632)		(25,719)		(30,972)		(79,323)
Equity in net income of unconsolidated investments(d)	2,596,820		—		20,469		2,617,289
Net income attributable to noncontrolling interests	—		(96,850)		—		(96,850)
Adjusted EBITDA by segment	$	3,181,593	$	298,506	$	103,872	$	3,583,971

(a)Intersegment sales are not considered material.

(b)The significant expense categories and amounts align with the segment information that is regularly provided to the CODM. Excludes depreciation and amortization, and non-operating, non-recurring or unusual items as described in the reconciliation of total segment adjusted EBITDA to consolidated Net (loss) income attributable to Albemarle Corporation below.

(c)Other segment items are comprised of Research and development expenses excluding depreciation and amortization.

(d)Excludes Albemarle’s 49% ownership interest in the income tax expense of the Windfield joint venture.

The Company reconciles the total segment adjusted EBITDA to the consolidated Net (loss) income attributable to Albemarle Corporation given the impact of equity in net income from unconsolidated investments, the majority of which relates to the Windfield joint venture. This reconciliation reflects the strategic and operational significance of the Company’s joint ventures and aligns with our allocation of equity in net income from unconsolidated investments at the segment level, representing each segment's contribution to the Company's overall financial performance. See below for a reconciliation of total segment adjusted EBITDA to consolidated Net (loss) income attributable to Albemarle Corporation (in thousands):


	Year Ended December 31,
	2025		2024		2023
Total segment adjusted EBITDA	$	1,123,352	$	1,117,110	$	3,583,971

Corporate expenses, net	(25,359)		22,668		(37,983)
Depreciation and amortization	(658,678)		(588,638)		(429,944)
Interest and financing expenses(a)	(207,651)		(165,619)		(116,072)
Income tax expense	(156,881)		(87,085)		(430,277)
Proportionate share of Windfield income tax expense(b)	(94,549)		(299,193)		(779,703)

Gain on change in interest in properties/sale of business, net(c)	—		—		71,190
Acquisition and integration related costs(d)	(8,303)		(6,223)		(26,767)
Restructuring charges and asset write-offs(e)	(7,893)		(1,180,806)		(9,491)
Goodwill impairment(f)	(181,070)		—		(6,765)
Long-lived asset impairment(g)	(245,600)		—		—
Non-operating pension and OPEB items	(17,710)		11,335		7,971

Gain (loss) in fair value of public equity securities(h)	11,137		(70,758)		(44,732)
Legal accrual(i)	—		—		(218,510)


Other(j)	(41,423)		67,760		10,588
Net (loss) income attributable to Albemarle Corporation	$	(510,628)	$	(1,179,449)	$	1,573,476

(a)Includes a loss on early extinguishment of debt of $7.5 million for the year ended December 31, 2025. See Note 12, “Long-term Debt,” for additional information.

(b)Albemarle’s 49% ownership interest in the reported income tax expense of the Windfield joint venture.

(c)Gain recorded during the year ended December 31, 2023 resulting from the restructuring of the MARBL joint venture with MRL. See Note 8, “Investments,” for further details.

(d)Costs related to the acquisition, integration and potential divestitures for various significant projects, recorded in Selling, general and administrative expenses (“SG&A”).

(e)See Note 17, “Restructuring Charges and Asset Write-offs,” for further details.

(f)See Note 2, “Divestitures,” and Note 10, “Goodwill and Other Intangibles,” for further details.

(g)See Note 2, “Divestitures,” for further details.

(h)Represents the net change in fair value of investments in public equity securities for the years ended December 31, 2025 and 2023, recorded in Other income, net. The year ended December 31, 2024 included losses of $37.0 million and $33.7 million, recorded in Other income, net, resulting from the net change in fair value of investments in public equity securities and the sale of investments in public equity securities, respectively.

(i)Loss recorded in SG&A for the agreements to resolve a previously disclosed legal matter with the DOJ and SEC during the year ended December 31, 2023. See Note 15, “Commitments and Contingencies,” for further details.

(j)Included amounts for the year ended December 31, 2025 recorded in:

•Cost of goods sold - $4.8 million related to the write-off of assets damaged in a severe weather incident in Jordan.

•SG&A - $9.2 million related to the write-off of assets damaged in a severe weather incident in Jordan, $3.1 million of severance expenses not related to a restructuring plan, $2.2 million related to the write-off of certain fixed assets, $2.0 million of expenses related to certain historical legal matters and $1.4 million of expenses related to the redemption of preferred equity in a Grace subsidiary, partially offset by $13.3 million of gains from the sale of assets not part of our production operations.

•Other income, net - $38.0 million loss resulting from the redemption of preferred equity in a Grace subsidiary, $14.3 million loss related to the sale of our ownership interest in the Nippon Aluminum Alkyls joint venture and $1.9 million of charges for asset retirement obligations at a site not part of our operations, partially offset by $19.8 million of income from PIK dividends of the preferred equity in a Grace subsidiary prior to redemption and a $2.4 million gain primarily resulting from the adjustment of indemnification related to previously disposed businesses.

Included amounts for the year ended December 31, 2024 recorded in:

•Cost of goods sold - $1.4 million of expenses related to non-routine labor and compensation related costs that are outside normal compensation arrangements.

•SG&A - $5.3 million of expenses related to certain historical legal and environmental matters.

•Other income, net - $40.9 million of gains from the sale of assets at a site not part of our operations, $36.3 million of income from PIK dividends of preferred equity in a Grace subsidiary, a $1.8 million net gain primarily resulting from the adjustment of indemnification related to previously disposed businesses and a $0.6 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations, partially offset by $2.9 million of charges for asset retirement obligations at a site not part of our operations and $2.1 million of a loss related to the fair value adjustment of a nonmarketable security investment.

Included amounts for the year ended December 31, 2023 recorded in:

•Cost of goods sold - $15.1 million loss recorded to settle an arbitration matter with a regulatory agency in Chile, partially offset by a $4.1 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations.

•SG&A - $2.3 million of facility closure expenses related to offices in Germany, $1.9 million of charges primarily for environmental reserves at sites not part of our operations and $1.8 million of various expenses including for certain legal costs and shortfall contributions for a multiemployer plan financial improvement plan.

•Other income, net - $19.3 million gain from PIK dividends of preferred equity in a Grace subsidiary, a $7.3 million gain resulting from insurance proceeds of a prior legal matter and $5.5 million of gains from the sale of investments and the write-off of certain liabilities no longer required, partially offset by $3.6 million of charges for asset retirement obligations at a site not part of our operations and $0.9 million of a loss resulting from the adjustment of indemnification related to previously disposed businesses.

Identifiable assets by segment as of December 31, 2025, 2024 and 2023 were as follows (in thousands):


	December 31,
	2025		2024		2023

Assets:
Energy Storage	$	11,086,694	$	11,285,847	$	13,246,412
Specialties	2,067,191		1,843,564		1,696,307
Ketjen(a)	1,146,671		1,426,189		1,355,743
Total segment assets	14,300,556		14,555,600		16,298,462

Corporate	2,073,655		2,054,049		1,972,190
Total assets	$	16,374,211	$	16,609,649	$	18,270,652

(a)Ketjen assets include the Refining Solutions business assets reported as held for sale on the consolidated balance sheet, the investment in Eurecat joint venture divested on January 23, 2026 and the PCS business assets.

Additional segment information for the years ended December 31, 2025, 2024 and 2023 was as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023

Depreciation and amortization:
Energy Storage	$	497,903	$	434,916	$	258,436
Specialties	105,390		95,043		86,673
Ketjen	46,504		51,488		76,023
Total segment depreciation and amortization	649,797		581,447		421,132


Corporate	8,881		7,191		8,812
Total depreciation and amortization	$	658,678	$	588,638	$	429,944
Equity in net income of unconsolidated investments (net of tax):
Energy Storage	$	184,669	$	705,378	$	1,822,620

Ketjen	26,229		22,468		20,469
Total segment equity in net income of unconsolidated investments (net of tax)	210,898		727,846		1,843,089


Corporate(a)	32,846		(12,413)		10,993
Total equity in net income of unconsolidated investments (net of tax)	$	243,744	$	715,433	$	1,854,082
Capital expenditures:
Energy Storage(b)	$	284,100	$	1,225,748	$	1,757,701
Specialties	171,243		257,673		214,039
Ketjen	120,161		163,921		132,510
Total segment capital expenditures	575,504		1,647,342		2,104,250


Corporate	14,297		33,187		50,292
Total capital expenditures	$	589,801	$	1,680,529	$	2,154,542

(a)Corporate equity in net income of unconsolidated investments (net of tax) relates to foreign exchange gains or losses from the Windfield joint venture.

(b)Energy Storage capital expenditures for the years ended December 31, 2024 and 2023 include adjustments to correct previously identified immaterial errors. See Note 1, “Summary of Significant Accounting Policies,” for further details.

Net Sales by Geographic Area

The following table summarizes the Company’s net sales by geographic area for the years ended December 31, 2025, 2024 and 2023 (in thousands):


	Year Ended December 31,
	2025		2024		2023

Net Sales(a):
United States	$	890,498	$	901,870	$	930,838
South Korea	789,547		912,376		3,125,372
China	2,026,293		1,961,143		2,851,809
Japan	359,631		589,268		1,396,360
Other(b)	1,076,764		1,012,869		1,312,824
Total	$	5,142,733	$	5,377,526	$	9,617,203

(a)Net sales are attributed to countries based upon shipments to final destination.

(b)Net sales to any other country are individually immaterial.

Long-Lived Assets by Geographic Area

The following table summarizes the Company’s long-lived assets by geographic area for the years ended December 31, 2025, 2024 and 2023 was as follows (in thousands):


	As of December 31,
	2025		2024		2023
			(In thousands)
Long-Lived Assets(a):
United States	$	1,810,967	$	2,134,371	$	1,912,243
Australia	3,895,577		3,943,847		4,610,963
Chile	2,167,720		2,253,647		2,258,619
China	990,536		966,785		819,119
Jordan	327,439		309,148		292,870
Netherlands	—		177,587		186,963
Germany	111,946		90,367		91,979
France	68,285		59,815		56,876
Brazil	—		29,733		33,730


Other foreign countries	59,673		92,655		87,489
Total	$	9,432,143	$	10,057,955	$	10,350,851

(a) Long-lived assets are comprised of the Company’s Property, plant and equipment and joint ventures included in Investments. The balances of long-lived assets as of December 31, 2025 exclude assets held for sale.