Property, Plant and Equipment Disclosure
Asset Age Ratios (Summary)
Average Age
Estimated Total Useful Life
Estimated Age, Time Elapsed Since Purchase
Estimated Remaining Life

Albemarle Corp., balance sheet: property, plant and equipment

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Land	172,464)	117,703)	121,330)	116,728)	123,518)
Land improvements	201,284)	112,374)	115,693)	83,256)	63,349)
Buildings and improvements	492,509)	383,879)	354,679)	337,728)	251,980)
Machinery and equipment	4,446,315)	3,619,712)	3,564,389)	3,355,519)	2,780,478)
Mineral rights and reserves	1,795,668)	1,783,691)	1,780,236)	1,764,067)	696,033)
Construction in progress	2,246,090)	2,057,387)	1,491,314)	1,160,545)	883,705)
Property, plant and equipment, at cost	9,354,330)	8,074,746)	7,427,641)	6,817,843)	4,799,063)
Accumulated depreciation and amortization	(2,391,333)	(2,165,130)	(2,073,016)	(1,908,370)	(1,777,979)
Net property, plant and equipment	6,962,997)	5,909,616)	5,354,625)	4,909,473)	3,021,084)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Item	Description	The company
Property, plant and equipment, at cost	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Albemarle Corp. property, plant and equipment, at cost increased from 2020 to 2021 and from 2021 to 2022.
Net property, plant and equipment	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Albemarle Corp. net property, plant and equipment increased from 2020 to 2021 and from 2021 to 2022.

Albemarle Corp., asset age ratios

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Average age ratio	26.04%	27.21%	28.37%	28.48%	38.03%
Estimated total useful life (years)	34	35	36	37	28
Estimated age, time elapsed since purchase (years)	9	10	10	10	10
Estimated remaining life (years)	25	26	26	26	17

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Albemarle Corp. average age ratio of depreciable property, plant and equipment improved from 2020 to 2021 and from 2021 to 2022.
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Albemarle Corp. estimated total useful life of depreciable property, plant and equipment decreased from 2020 to 2021 and from 2021 to 2022.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Albemarle Corp. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2020 to 2021 and from 2021 to 2022.
Estimated remaining life		Albemarle Corp. estimated remaining life of depreciable property, plant and equipment decreased from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Selected Financial Data (US$ in thousands)
Accumulated depreciation and amortization	2,391,333)	2,165,130)	2,073,016)	1,908,370)	1,777,979)
Property, plant and equipment, at cost	9,354,330)	8,074,746)	7,427,641)	6,817,843)	4,799,063)
Land	172,464)	117,703)	121,330)	116,728)	123,518)
Asset Age Ratio
Average age¹	26.04%	27.21%	28.37%	28.48%	38.03%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

2022 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization ÷ (Property, plant and equipment, at cost – Land)
= 100 × 2,391,333 ÷ (9,354,330 – 172,464) = 26.04%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Albemarle Corp. average age ratio of depreciable property, plant and equipment improved from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Selected Financial Data (US$ in thousands)
Property, plant and equipment, at cost	9,354,330)	8,074,746)	7,427,641)	6,817,843)	4,799,063)
Land	172,464)	117,703)	121,330)	116,728)	123,518)
Depreciation expense, including depletion	273,000)	225,600)	203,600)	183,300)	170,000)
Asset Age Ratio (Years)
Estimated total useful life¹	34	35	36	37	28

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

2022 Calculations

¹ Estimated total useful life = (Property, plant and equipment, at cost – Land) ÷ Depreciation expense, including depletion
= (9,354,330 – 172,464) ÷ 273,000 = 34

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Asset age ratio	Description	The company
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Albemarle Corp. estimated total useful life of depreciable property, plant and equipment decreased from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Selected Financial Data (US$ in thousands)
Accumulated depreciation and amortization	2,391,333)	2,165,130)	2,073,016)	1,908,370)	1,777,979)
Depreciation expense, including depletion	273,000)	225,600)	203,600)	183,300)	170,000)
Asset Age Ratio (Years)
Time elapsed since purchase¹	9	10	10	10	10

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

2022 Calculations

¹ Time elapsed since purchase = Accumulated depreciation and amortization ÷ Depreciation expense, including depletion
= 2,391,333 ÷ 273,000 = 9

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Asset age ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Albemarle Corp. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Selected Financial Data (US$ in thousands)
Net property, plant and equipment	6,962,997)	5,909,616)	5,354,625)	4,909,473)	3,021,084)
Land	172,464)	117,703)	121,330)	116,728)	123,518)
Depreciation expense, including depletion	273,000)	225,600)	203,600)	183,300)	170,000)
Asset Age Ratio (Years)
Estimated remaining life¹	25	26	26	26	17

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

2022 Calculations

¹ Estimated remaining life = (Net property, plant and equipment – Land) ÷ Depreciation expense, including depletion
= (6,962,997 – 172,464) ÷ 273,000 = 25

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Asset age ratio	Description	The company
Estimated remaining life		Albemarle Corp. estimated remaining life of depreciable property, plant and equipment decreased from 2020 to 2021 and from 2021 to 2022.

Albemarle Corp. (NYSE:ALB)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age

Estimated Total Useful Life

Estimated Age, Time Elapsed since Purchase

Estimated Remaining Life