Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Albemarle Corp., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net sales	7,320,104)	3,327,957)	3,128,909)	3,589,427)	3,374,950)
Cost of goods sold	(4,245,517)	(2,329,986)	(2,134,056)	(2,331,649)	(2,157,694)
Gross profit	3,074,587)	997,971)	994,853)	1,257,778)	1,217,256)
Selling, general and administrative expenses	(524,145)	(441,482)	(429,827)	(533,368)	(446,090)
Research and development expenses	(71,981)	(54,026)	(59,214)	(58,287)	(70,054)
Gain (loss) on sale of business/interest in properties, net	(8,400)	295,971)	—)	—)	210,428)
Operating profit	2,470,061)	798,434)	505,812)	666,123)	911,540)
Interest and financing expenses	(122,973)	(61,476)	(73,116)	(57,695)	(52,405)
Other income (expenses), net	86,356)	(603,340)	(59,177)	(45,478)	(64,434)
Income before income taxes and equity in net income of unconsolidated investments	2,433,444)	133,618)	373,519)	562,950)	794,701)
Income tax expense	(390,588)	(29,446)	(54,425)	(88,161)	(144,826)
Income before equity in net income of unconsolidated investments	2,042,856)	104,172)	319,094)	474,789)	649,875)
Equity in net income of unconsolidated investments, net of tax	772,275)	95,770)	127,521)	129,568)	89,264)
Net income	2,815,131)	199,942)	446,615)	604,357)	739,139)
Net income attributable to noncontrolling interests	(125,315)	(76,270)	(70,851)	(71,129)	(45,577)
Net income attributable to Albemarle Corporation	2,689,816)	123,672)	375,764)	533,228)	693,562)

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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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Albemarle Corp. net sales increased from 2020 to 2021 and from 2021 to 2022.
Operating profit	The net result for the period of deducting operating expenses from operating revenues.	Albemarle Corp. operating profit increased from 2020 to 2021 and from 2021 to 2022.
Income before income taxes and equity in net income of unconsolidated investments	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Albemarle Corp. income before income taxes and equity in net income of unconsolidated investments decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Net income attributable to Albemarle Corporation	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Albemarle Corp. net income attributable to Albemarle Corporation decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Albemarle Corp. (NYSE:ALB)

Income Statement