Financial Analysis

Commitments and Contingencies: In the ordinary course of business, we have commitments in connection with various activities. The Company believes that amounts recorded are adequate for known items which might become due in the current year. The most significant commitments are as follows: Environmental The Company had the following activity in our recorded environmental liabilities for the years ended December 31, 2025, 2024 and 2023 (in thousands): Year Ended December 31, 2025 2024 2023 Balance, beginning of year $ 20,023 $ 34,149 $ 38,245 Expenditures (740) (4,159) (3,393) Accretion of discount 849 1,126 1,094 Additions, liability releases and changes in estimates, net 34 (11,304) (2,541) Foreign currency translation adjustments and other 382 211 744 Balance, end of year 20,548 20,023 34,149 Less amounts reported in Accrued expenses 4,247 4,240 10,925 Amounts reported in Other noncurrent liabilities $ 16,301 $ 15,783 $ 23,224 Environmental remediation liabilities included discounted liabilities of $17.0 million and $16.8 million at December 31, 2025 and 2024, respectively, discounted at rates with a weighted-average of 4.0%, with the undiscounted amount totaling $34.2 million and $34.5 million at December 31, 2025 and 2024, respectively. The amounts recorded represent our future remediation and other anticipated environmental liabilities. These liabilities typically arise during the normal course of our operational and environmental management activities or at the time of …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Stock-based Compensation Expense: Incentive Plans We have various share-based compensation plans that authorize the granting of (i) qualified and non-qualified stock options to purchase shares of our common stock, (ii) restricted stock and restricted stock units, (iii) performance unit awards and (iv) stock appreciation rights (SARs) to employees and non-employee directors, at our option. Stock options granted to employees generally vest over three years and have a term of ten years. Restricted stock and restricted stock unit awards vest in periods ranging from one to five years from the date of grant. Performance unit awards are earned at a level ranging from 0% to 200% contingent upon the achievement of specific performance criteria over periods ranging from one to three years. Distribution of earned units occurs generally 50% upon completion of the applicable measurement period with the remaining 50% distributed one year thereafter. In May 2017, the Company adopted the Albemarle Corporation 2017 Incentive Plan (the Incentive Plan), which replaced the Albemarle Corporation 2008 Incentive Plan. The maximum number of shares available for issuance to participants under the Incentive Plan is 4,500,000 shares. The adoption of the Incentive Plan did not affect awards already granted under the Albemarle Corporation 2008 Incentive Plan. In February 2023, the Company adopted the Albemarle Corporation 2023 Stock Compensation and Deferral Election Plan for Non-Employee Directors (the …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Fair Value of Financial Instruments: In assessing the fair value of financial instruments, we use methods and assumptions that are based on market conditions and other risk factors existing at the time of assessment. Fair value information for our financial instruments is as follows: Long-Term Debtthe fair values of our notes are estimated using Level 1 inputs and account for the difference between the recorded amount and fair value of our long-term debt. The carrying value of our remaining long-term debt reported in the accompanying consolidated balance sheets approximates fair value as substantially all of such debt bears interest based on prevailing variable market rates currently available in the countries in which we have borrowings. December 31, 2025 2024 Recorded Amount Fair Value Recorded Amount Fair Value (In thousands) Long-term debt $ 3,207,210 $ 3,112,590 $ 3,532,713 $ 3,332,064 During the fourth quarter of 2019, we entered into a foreign currency forward contract to hedge the cash flow exposure of non-functional currency purchases during the construction of the Kemerton plant in Australia. This derivative financial instrument is used to manage risk and is not used for trading or other speculative purposes. This foreign currency forward contract has been designated as a hedging instrument under ASC 815, Derivatives and Hedging . As a result of the actions taken at Kemerton Trains 3 and 4 during 2024, the Company dedesignated the remaining hedged foreign currency f …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Goodwill and Other Intangibles: The following table summarizes the changes in goodwill by reportable segment for the years ended December 31, 2025 and 2024 (in thousands): Energy Storage Specialties Ketjen Total Balance at December 31, 2023 (a) $ 1,424,484 $ 32,639 $ 172,606 $ 1,629,729 Foreign currency translation adjustments (36,893) (62) (10,060) (47,015) Balance at December 31, 2024 (a) 1,387,591 32,577 162,546 1,582,714 Impairment loss (b) (181,070) (181,070) Foreign currency translation adjustments 79,368 121 18,524 98,013 Balance at December 31, 2025 (c) $ 1,466,959 $ 32,698 $ $ 1,499,657 (a) Balance as of December 31, 2024 and 2023 included an accumulated impairment loss of $6.8 million from the PCS reporting unit within the Ketjen segment. As a result, the balance of Ketjen goodwill as of December 31, 2024 and 2023 fully consisted of goodwill related to the Refining Solutions reporting unit. The balances of Energy Storage and Specialties goodwill as of December 31, 2024 and 2023 fully consisted of goodwill related to the Energy Storage and Specialties reporting units, respectively. (b) Impairment charge representing the full value of goodwill associated with the Refining Solutions reporting unit within the Ketjen segment. See Note 2, Divestitures, for further details. (c) Balance as of December 31, 2025 included an accumulated impairment loss of $187.8 million from the Refining Solutions and PCS reporting units within the Ketjen segment. The balances of Energy Storag …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income Taxes: Income before income taxes and equity in net income of unconsolidated investments, and current and deferred income tax expense (benefit) are composed of the following (in thousands): Year Ended December 31, 2025 2024 2023 Income before income taxes and equity in net income of unconsolidated investments: Domestic $ (624,724) $ 201,266 $ (461,897) Foreign 72,651 (1,965,091) 708,635 Total $ (552,073) $ (1,763,825) $ 246,738 Current income tax expense (benefit): Federal $ (11,226) $ 212,542 $ (54,250) State 1,683 (450) (3,395) Foreign 85,255 105,399 387,045 Total $ 75,712 $ 317,491 $ 329,400 Deferred income tax expense (benefit): Federal $ 53,058 $ (172,464) $ (8,545) State 21,183 1,523 (4,154) Foreign 6,928 (59,465) 113,576 Total $ 81,169 $ (230,406) $ 100,877 Total income tax expense $ 156,881 $ 87,085 $ 430,277 Following the adoption and prospective application of Accounting Standards Update (ASU) 2023-09, the reconciliation of the U.S. federal statutory rate to the effective income tax rate for the year ended December 31, 2025 is as follows (in thousands, except percentages): Year Ended December 31, 2025 $ % Federal statutory rate $ (115,935) 21.0 % State and local income tax, net of federal tax effect (a) 22,513 (4.1) Foreign tax effects: China Statutory tax rate difference 5,318 (1.0) Change in valuation allowance 8,692 (1.6) Other (2,885) 0.5 Chile Statutory tax rate difference 2,200 (0.4) State and local income tax (mining tax) 7,066 (1.3) Non-deductible pay …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases: We lease certain office space, buildings, transportation and equipment in various countries. The initial lease terms generally range from 1 to 30 years for real estate leases, and from 2 to 15 years for non-real estate leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and we recognize lease expense for these leases on a straight-line basis over the lease term. Many leases include options to terminate or renew, with renewal terms that can extend the lease term from 1 to 50 years or more. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table provides details of our lease contracts for the years ended December 31, 2025, 2024 and 2023 (in thousands): Year Ended December 31, 2025 2024 2023 Operating lease cost $ 36,507 $ 37,331 $ 48,238 Finance lease cost: Amortization of right of use assets 7,824 7,270 5,302 Interest on lease liabilities 6,418 6,435 5,070 Total finance lease cost 14,242 13,705 10,372 Short-term lease cost 24,977 25,651 20,309 Variable lease cost 48,122 34,741 25,075 Total lease cost $ 123,848 $ 111,428 $ 103,994 Supplement …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Long-Term Debt: Long-term debt consisted of the following at December 31, 2025 and 2024 (in thousands): December 31, 2025 2024 1.125% notes due 2025 $ $ 393,346 1.625% notes due 2028 588,600 521,500 3.45% Senior notes due 2029 171,612 171,612 4.65% Senior notes due 2027 650,000 650,000 5.05% Senior notes due 2032 600,000 600,000 5.45% Senior notes due 2044 350,000 350,000 5.65% Senior notes due 2052 450,000 450,000 Interest-free loan 300,000 300,000 Variable-rate foreign bank loans 17,892 27,477 Finance lease obligations 106,796 118,796 Other 20,500 22,000 Unamortized discount and debt issuance costs (61,859) (88,566) Total long-term debt 3,193,541 3,516,165 Less amounts due within one year 74,077 398,023 Long-term debt, less current portion $ 3,119,464 $ 3,118,142 Aggregate annual maturities of long-term debt as of December 31, 2025 are as follows (in millions): 2026$74.1; 2027$710.0; 2028$648.6; 2029$231.6; 2030$60.0; thereafter$1,531.1. 2022 Notes On May 13, 2022, the Company issued a series of notes (collectively, the 2022 Notes) as follows: $650.0 million aggregate principal amount of senior notes, bearing interest at a rate of 4.65% payable semi-annually on June 1 and December 1 of each year, beginning on December 1, 2022. The effective interest rate on these senior notes is approximately 4.84%. These senior notes mature on June 1, 2027. $600.0 million aggregate principal amount of senior notes, bearing interest at a rate of 5.05% payable semi-annually on June 1 and Dec …

LongTermDebtTextBlock · excerpt; the full note is in the filing

Recently Issued or Adopted Accounting Pronouncements In August 2023, the FASB issued guidance which will require a joint venture to recognize and initially measure its assets, including goodwill, and liabilities using a new basis of accounting upon formation. Initial measurement of a joint ventures total net assets will be equal to the fair value of one hundred percent of the joint ventures equity. In addition, a joint venture will be permitted to apply the measurement period guidance of ASC 805-10 if the initial accounting for the joint venture formation is incomplete by the end of the reporting period in which the formation occurs. This guidance is effective prospectively for all joint venture formations with a formation date on or after January 1, 2025. The Company currently does not expect this guidance to have a significant impact on its consolidated financial statements. In November 2023, the FASB issued guidance to update qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company has adopted this guidance and provided the required disclosures in this Annual Report on Form 10-K. See Note 25, Segment and Geographic Area Information, for further details. In December 2023 …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Pension Plans and Other Postretirement Benefits: The Company maintains various noncontributory defined benefit pension plans covering certain employees, primarily in the U.S., the U.K., Germany and Japan. The Company also has a contributory defined benefit plan covering certain Belgian employees. The benefits for these plans are based primarily on compensation and/or years of service. The U.S. and U.K. defined benefit plans for non-represented employees are closed to new participants, with no additional benefits accruing under these plans as participants accrued benefits have been frozen. The funding policy for each plan complies with the requirements of relevant governmental laws and regulations. The pension information for all periods presented includes amounts related to salaried and hourly plans. The following provides a reconciliation of benefit obligations, plan assets and funded status, as well as a summary of significant assumptions, for our defined benefit pension plans (in thousands): Year Ended December 31, 2025 Year Ended December 31, 2024 U.S. Pension Plans Foreign Pension Plans U.S. Pension Plans Foreign Pension Plans Change in benefit obligations: Benefit obligation at January 1 $ 485,068 $ 177,953 $ 512,902 $ 195,918 Service cost 402 5,167 545 5,391 Interest cost 26,140 7,404 25,580 7,204 Actuarial loss (gain) 14,340 (6,483) (11,604) (7,034) Benefits paid (41,765) (12,943) (42,355) (9,423) Employee contributions 65 70 Foreign exchange loss (gain) 18,624 (7,920 …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Related Party Transactions: Our consolidated statements of (loss) income include sales to and purchases from unconsolidated affiliates in the ordinary course of business as follows (in thousands): Year Ended December 31, 2025 2024 2023 Sales to unconsolidated affiliates $ 16,344 $ 30,090 $ 35,676 Purchases from unconsolidated affiliates (a) $ 585,402 $ 643,293 $ 3,652,784 (a) Purchases from unconsolidated affiliates primarily relate to spodumene purchased from the Companys Windfield joint venture. The decrease from 2024 and 2023 primarily related to lower lithium market prices. Our consolidated balance sheets include accounts receivable due from and payable to unconsolidated affiliates in the ordinary course of business as follows (in thousands): December 31, 2025 2024 Receivables from unconsolidated affiliates $ 2,643 $ 11,950 Payables to unconsolidated affiliates (a) $ 134,369 $ 150,432 (a) Payables to unconsolidated affiliates primarily relate to spodumene purchased from the Companys Windfield joint venture under normal payment terms. …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

Segment and Geographic Area Information: The Company has three operating and reportable segments, which are: (1) Energy Storage; (2) Specialties; and (3) Ketjen. The segments are organized based on their similar markets, customers, economic characteristics and production processes. The organizational structure facilitates the continued standardization of business processes across the organization, and is consistent with the manner in which information is presently used internally by the Companys Chairman, President and Chief Executive Officer, who is the Companys chief operating decision maker (CODM), to evaluate performance and make resource allocation decisions. In 2025, the Company signed definitive agreements to divest the controlling ownership interest of its Refining Solutions business and its remaining ownership interest in the Eurecat S.A. joint venture, both within the Ketjen segment. The Eurecat S.A. transaction was completed on January 23, 2026 and the Company expects the Refining Solutions business transaction to be completed in the first quarter of 2026, subject to customary closing conditions. Upon completion of that transaction, the Company will retain its PCS business and a 49% ownership interest in the Refining Solutions business. Until the Refining Solutions transaction is completed, the Company will continue to report the results of these businesses within the Ketjen reportable segment. The Corporate category is not considered to be a segment and includes c …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Summary of Significant Accounting Policies: Basis of Consolidation The consolidated financial statements include the accounts and operations of Albemarle Corporation and our wholly owned, majority owned and controlled subsidiaries. Unless the context otherwise indicates, the terms Albemarle, we, us, our or the Company mean Albemarle Corporation and its consolidated subsidiaries. For entities that we control and are the primary beneficiary, but own less than 100%, we record the minority ownership as noncontrolling interest, except as noted below. We apply the equity method of accounting for investments in which we have an ownership interest from 20% to 50% or where we exercise significant influence over the related investees operations. In addition, the consolidated financial statements contained herein include our proportionate share of the results of operations of the MARBL Lithium Joint Venture (MARBL), which manages the exploration, development, mining, processing and production of lithium and other minerals from the Wodgina hard rock lithium mine project (Wodgina). As described in Note 8, Investments, the Company closed on the restructuring of the MARBL joint venture with Mineral Resources Limited (MRL) on October 18, 2023 to reduce our ownership interest in the MARBL joint venture to 50% from 60%. The consolidated financial statements reflect our ownership percentage of the MARBL joint venture during the periods presented. The joint venture is unincorporated with each in …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Equity: Common Stock Effective May 10, 2024, the Company amended its Amended and Restated Articles of Incorporation (the Charter) to increase the number of authorized shares of common stock, $0.01 par value per share, from 150,000,000 to 275,000,000 (the Charter Amendment). Mandatory Convertible Preferred Stock On March 8, 2024, the Company issued 46,000,000 depositary shares (Depositary Shares), each representing a 1/20th interest in a share of Series A Mandatory Convertible Preferred Stock (Mandatory Convertible Preferred Stock). The 2,300,000 shares of Mandatory Convertible Preferred Stock issued have a $1,000 per share liquidation preference. As a result of this transaction, the Company received cash proceeds of approximately $2.2 billion, net of underwriting fees and offering costs. Dividends on the Mandatory Convertible Preferred Stock are payable on a cumulative basis when, as and if declared by the Albemarle board of directors, or an authorized committee thereof, at an annual rate of 7.25% on the liquidation preference of $1,000 per share, and may be paid in cash or, subject to certain limitations, in shares of common stock or, subject to certain limitations, any combination of cash and shares of common stock. Dividends that are declared on the Mandatory Convertible Preferred Stock will be payable quarterly to the holders of record on February 15, May 15, August 15 and November 15 of each year, immediately preceding the relevant dividend payment date, whether or not s …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

Commitments and Contingencies: Environmental The following activity was recorded in environmental liabilities for the nine months ended September 30, 2025 (in thousands): Beginning balance at December 31, 2024 $ 20,023 Expenditures (579) Accretion of discount 644 Foreign currency translation adjustments and other 351 Ending balance at September 30, 2025 20,439 Less amounts reported in Accrued expenses 4,066 Amounts reported in Other noncurrent liabilities $ 16,373 Environmental remediation liabilities included discounted liabilities of $16.9 million and $16.8 million at September 30, 2025 and December 31, 2024, respectively, discounted at rates with a weighted-average of 4.0%, and with the undiscounted amount totaling $34.2 million and $34.5 million at September 30, 2025 and December 31, 2024, respectively. The amounts recorded represent our future remediation and other anticipated environmental liabilities. These liabilities typically arise during the normal course of our operational and environmental management activities or at the time of acquisition of the site, and are based on internal analysis as well as input from outside consultants. As evaluations proceed at each relevant site, changes in risk assessment practices, remediation techniques and regulatory requirements can occur, therefore such liability estimates may be adjusted accordingly. The timing and duration of remediation activities at these sites will be determined when evaluations are completed. Although it i …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Fair Value of Financial Instruments: In assessing the fair value of financial instruments, we use methods and assumptions that are based on market conditions and other risk factors existing at the time of assessment. Fair value information for our financial instruments is as follows: Long-Term Debtthe fair values of our notes are estimated using Level 1 inputs and account for the difference between the recorded amount and fair value of our long-term debt. The carrying value of our remaining long-term debt reported in the accompanying consolidated balance sheets approximates fair value as substantially all of such debt bears interest based on prevailing variable market rates currently available in the countries in which we have borrowings. September 30, 2025 December 31, 2024 Recorded Amount Fair Value Recorded Amount Fair Value (In thousands) Long-term debt $ 3,640,784 $ 3,508,029 $ 3,532,713 $ 3,332,064 During the fourth quarter of 2019, we entered into a foreign currency forward contract to hedge the cash flow exposure of non-functional currency purchases during the construction of the Kemerton plant in Australia. This derivative financial instrument is used to manage risk and is not used for trading or other speculative purposes. This foreign currency forward contract has been designated as a hedging instrument under Accounting Standards Codification (ASC) 815, Derivatives and Hedging . As a result of the actions taken at Kemerton Trains 3 and 4 during 2024, the Company de …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"Goodwill and Other Intangibles: The following table summarizes the changes in goodwill by reportable segment for the nine-month period ended September 30, 2025 (in thousands): Energy Storage Specialties Ketjen Total Balance at December 31, 2024 (a) $ 1,387,591 $ 32,577 $ 162,546 $ 1,582,714 Impairment charges (b) (181,070) (181,070) Foreign currency translation adjustments 70,634 67 18,524 89,225 Balance at September 30, 2025 (c) $ 1,458,225 $ 32,644 $ $ 1,490,869 (a) Balance at December 31, 2024 included an accumulated impairment loss of $6.8 million from the Performance Catalyst Solutions reporting unit within the Ketjen segment. As a result, the balance of Ketjen goodwill at December 31, 2024 fully consisted of goodwill related to the Refining Solutions reporting unit. (b) During the three months ended September 30, 2025, the Company made significant progress on the potential divestiture of the Refining Solutions reporting unit. The progression of related discussions indicated it was more likely than not that the fair value of the Refining Solutions reporting unit was less than its carrying value as of September 30, 2025. Accordingly, the Company performed an interim goodwill impairment test as of that date. Subsequent to the balance sheet date, the Company entered into definitive agreements on October 23, 2025 and October 25, 2025 to divest its 50% ownership interest in Eurecat S.A., a joint venture within the Refining Solutions reporting unit, and to divest the controll …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income Taxes: The effective income tax rates for the three-month and nine-month periods ended September 30, 2025 were 12.8% and 0.2%, respectively, compared to (9.4)% and (4.2)% for the three-month and nine-month periods ended September 30, 2024, respectively. The Companys effective income tax rate fluctuates based on, among other factors, the amount and location of income. The change in effective tax rate in the three-month and nine-month periods ended September 30, 2025, compared to the three-month and nine-month periods ended September 30, 2024, was due to the impact of 2025 earnings in various jurisdictions. The difference between the U.S. federal statutory income tax rate of 21% and Companys effective income tax rate for the three-month and nine-month periods ended September 30, 2025 was due to the net impact of the location in which income was earned, including the impact of valuation allowances for losses in the Companys consolidated Australian entities and certain entities in China. The goodwill impairment charge recorded during the three-month and nine-month periods ended September 30, 2025 was primarily non-deductible and resulted in a minimal income tax benefit. The difference between the U.S. federal statutory income tax rate of 21% and the Companys effective income tax rate for the three-month and nine-month periods ended September 30, 2024 was impacted by a variety of factors, primarily the location in which income was earned, including the valuation allowance f …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases: We lease certain office space, buildings, transportation and equipment in various countries. The initial lease terms generally range from 1 to 30 years for real estate leases, and from 2 to 15 years for non-real estate leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and we recognize lease expense for these leases on a straight-line basis over the lease term. Many leases include options to terminate or renew, with renewal terms that can extend the lease term from 1 to 50 years or more. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table provides details of our lease contracts for the three-month and nine-month periods ended September 30, 2025 and 2024 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Operating lease cost $ 9,499 $ 9,184 $ 26,836 $ 28,302 Finance lease cost: Amortization of right of use assets 1,891 1,653 5,915 5,318 Interest on lease liabilities 1,603 1,568 4,834 4,769 Total finance lease cost 3,494 3,221 10,749 10,087 Short-term lease cost 6,733 4,639 18,732 19,443 …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Long-Term Debt: Long-term debt at September 30, 2025 and December 31, 2024 consisted of the following (in thousands): September 30, December 31, 2025 2024 1.125% notes due 2025 $ 439,959 $ 393,346 1.625% notes due 2028 583,300 521,500 3.45% Senior notes due 2029 171,612 171,612 4.65% Senior notes due 2027 650,000 650,000 5.05% Senior notes due 2032 600,000 600,000 5.45% Senior notes due 2044 350,000 350,000 5.65% Senior notes due 2052 450,000 450,000 Interest-free loan 300,000 300,000 Variable-rate foreign bank loans 18,704 27,477 Finance lease obligations 116,171 118,796 Other 22,000 22,000 Unamortized discount and debt issuance costs (75,353) (88,566) Total long-term debt 3,626,393 3,516,165 Less amounts due within one year 445,384 398,023 Long-term debt, less current portion $ 3,181,009 $ 3,118,142 Accounts Receivable Purchase Agreement We are party to a master receivables purchase agreement, under which we may sell up to approximately $94 million of available and eligible outstanding customer accounts receivable generated by sales to certain customers. The agreement is uncommitted and can be terminated by us or the purchaser upon notice in accordance with the terms of the agreement. Transactions under this agreement are accounted for as sales of accounts receivable, and the receivables sold are removed from the consolidated balance sheets as of the effective time of the sales transaction. During the three-month and nine-month periods ended September 30, 2025, the Company …

LongTermDebtTextBlock · excerpt; the full note is in the filing

In August 2023, the FASB issued guidance which will require a joint venture to recognize and initially measure its assets, including goodwill, and liabilities using a new basis of accounting upon formation. Initial measurement of a joint ventures total net assets will be equal to the fair value of one hundred percent of the joint ventures equity. In addition, a joint venture will be permitted to apply the measurement period guidance of ASC 805-10 if the initial accounting for the joint venture formation is incomplete by the end of the reporting period in which the formation occurs. This guidance is effective prospectively for all joint venture formations with a formation date on or after January 1, 2025. The Company currently does not expect this guidance to have a significant impact on its consolidated financial statements. In November 2023, the FASB issued guidance to update qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company has adopted this guidance and provided the required disclosures in this Quarterly Report on Form 10-Q. See Note 17, Segment Information, for further details. In December 2023, the FASB issued guidance to require qualitative and quantitative upd …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Pension Plans and Other Postretirement Benefits: The components of pension and postretirement benefits cost (credit) for the three-month and nine-month periods ended September 30, 2025 and 2024 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Pension Benefits Cost (Credit): Service cost $ 1,466 $ 1,576 $ 4,310 $ 4,705 Interest cost 8,505 8,163 25,298 24,448 Expected return on assets (8,609) (8,854) (25,732) (26,522) Amortization of prior service benefit 20 20 59 59 Total net pension benefits cost $ 1,382 $ 905 $ 3,935 $ 2,690 Postretirement Benefits Cost: Service cost $ 4 $ 12 $ 14 $ 35 Interest cost 471 360 1,412 1,081 Total net postretirement benefits cost $ 475 $ 372 $ 1,426 $ 1,116 Total net pension and postretirement benefits cost $ 1,857 $ 1,277 $ 5,361 $ 3,806 All components of net benefit cost, other than service cost, are included in Other income (expenses), net on the consolidated statements of loss. During the three-month and nine-month periods ended September 30, 2025, the Company made contributions of $5.9 million and $15.8 million, respectively, to its qualified and nonqualified plans and the U.S. postretirement benefit plan. During the three-month and nine-month periods ended September 30, 2024, the Company made contributions of $3.9 million and $13.3 million, respectively, to its qualified and nonqualified pension plans and the U.S. postretirement benefit plan.

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Related Party Transactions: Our consolidated statements of loss include sales to and purchases from unconsolidated affiliates in the ordinary course of business as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Sales to unconsolidated affiliates $ 677 $ 11,618 $ 2,889 $ 13,803 Purchases from unconsolidated affiliates (a) $ 137,078 $ 187,117 $ 440,517 $ 505,570 (a) Purchases from unconsolidated affiliates primarily relate to spodumene purchased from the Companys Windfield joint venture. Our consolidated balance sheets include accounts receivable due from and payable to unconsolidated affiliates in the ordinary course of business as follows (in thousands): September 30, 2025 December 31, 2024 Receivables from unconsolidated affiliates $ 575 $ 11,950 Payables to unconsolidated affiliates (a) $ 122,794 $ 150,432 (a) Payables to unconsolidated affiliates primarily relate to spodumene purchased from the Companys Windfield joint venture under normal payment terms. …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

Segment Information: The Company has three operating and reportable segments, which are: (1) Energy Storage; (2) Specialties; and (3) Ketjen. The segments are organized based on their similar markets, customers, economic characteristics and production processes. The organizational structure facilitates the continued standardization of business processes across the organization, and is consistent with the manner in which information is presently used internally by the Companys Chairman, President and Chief Executive Officer, who is the Companys chief operating decision maker (CODM), to evaluate performance and make resource allocation decisions. The Corporate category is not considered to be a segment and includes corporate-related items not allocated to the operating segments. Pension and other post-employment benefit (OPEB) service cost (which represents the benefits earned by active employees during the period) and amortization of prior service cost or benefit are allocated to the reportable segments and Corporate, whereas the remaining components of pension and OPEB benefits cost or credit (Non-operating pension and OPEB items) are included in Corporate. Segment data includes inter-segment transfers of raw materials at cost and allocations for certain corporate costs. The CODM uses adjusted EBITDA (as defined below) to assess the ongoing performance of the Companys business segments and to allocate resources by considering the variance in the actual results to the forecast …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Equity: Common Stock On July 22, 2025, the Companys board of directors declared a cash dividend of $0.405 per share. This dividend was paid on October 1, 2025 to shareholders of record at the close of business as of September 12, 2025. On October 27, 2025, the Companys board of directors declared a cash dividend of $0.405 per share, which is payable on January 2, 2026 to shareholders of record at the close of business as of December 12, 2025. Mandatory Convertible Preferred Stock On March 8, 2024, the Company issued 46,000,000 depositary shares (Depositary Shares), each representing a 1/20th interest in a share of Series A Mandatory Convertible Preferred Stock (Mandatory Convertible Preferred Stock). The 2,300,000 shares of Mandatory Convertible Preferred Stock issued had a $1,000 per share liquidation preference. As a result of this transaction, the Company received cash proceeds of approximately $2.2 billion, net of underwriting fees and offering costs. Dividends on the Mandatory Convertible Preferred Stock are payable on a cumulative basis when, as and if declared by the Albemarle board of directors, or an authorized committee thereof, at an annual rate of 7.25% on the liquidation preference of $1,000 per share, and may be paid in cash or, subject to certain limitations, in shares of common stock or, subject to certain limitations, any combination of cash and shares of common stock. Dividends that are declared on the Mandatory Convertible Preferred Stock will be payable qu …

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Subsequent Events: On October 25, 2025, the Company signed a definitive agreement to divest the controlling ownership interest of its Refining Solutions business (as defined below) to ChemCat AcquisitionCo, LLC and contribute the remaining ownership interest to ChemCat Holdings, LP, a newly-formed limited partnership (Holdco). The Refining Solutions business being divested is defined as the Companys Ketjen reportable segment, excluding its PCS business and the Companys 50% ownership interest in Eurecat S.A. (which the Company expects to divest in a separate transaction as described below). Following the completion of the transactions contemplated in the definitive agreement (collectively, the Refining Solutions Business Transaction), the Company will receive approximately $536 million in cash and will own 49% of the common units of Holdco. The Company expects the Refining Solutions Business Transaction to be completed in the first half of 2026, subject to customary and regulatory closing conditions. The Companys ownership interest in Holdco, initially representing a 49% interest, will consist of common units that will be junior to the preferred equity in Holdco held by other ownership groups. The preferred equity will accrue dividends, regardless of whether or not declared, for the first five years after the closing of the Refining Solutions Business Transaction, will be convertible into common equity of Holdco at the option of the holder. In a separate transaction, on Octobe …

SubsequentEventsTextBlock · excerpt; the full note is in the filing