Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Albemarle Corp., consolidated cash flow statement

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net income	2,815,131)	199,942)	446,615)	604,357)	739,139)
Depreciation and amortization	300,841)	254,000)	231,984)	213,484)	200,698)
Gain on sale of business/interest in properties, net	8,400)	(295,971)	(7,168)	—)	(210,428)
Gain on sale of property	—)	—)	—)	(14,411)	—)
Stock-based compensation and other	30,474)	20,120)	22,837)	19,680)	15,228)
Equity in net income of unconsolidated investments, net of tax	(772,275)	(95,770)	(127,521)	(129,568)	(89,264)
Dividends received from unconsolidated investments and nonmarketable securities	801,239)	78,391)	88,161)	71,746)	57,415)
Pension and postretirement (benefit) expense	(52,254)	(74,010)	45,658)	31,515)	10,410)
Pension and postretirement contributions	(16,112)	(30,253)	(16,434)	(16,478)	(15,236)
Unrealized gain on investments in marketable securities	3,279)	(3,818)	(4,635)	(2,809)	(527)
Loss on early extinguishment of debt	19,219)	28,955)	—)	4,829)	—)
Deferred income taxes	93,339)	(38,500)	(1,976)	14,394)	49,164)
(Increase) decrease in accounts receivable	(786,121)	(49,295)	100,118)	(18,220)	(97,448)
(Increase) decrease in inventories	(1,609,642)	(127,401)	51,978)	(46,304)	(124,067)
(Increase) decrease in other current assets	(104,655)	17,411)	7,902)	(32,941)	(2,181)
Increase (decrease) in accounts payable	1,287,072)	143,939)	(31,519)	(12,234)	73,730)
Increase (decrease) in accrued expenses and income taxes payable	(201,356)	127,068)	(215,011)	(4,640)	(1,999)
Changes in current assets and liabilities, net of effects of acquisitions and divestitures	(1,414,702)	111,722)	(86,532)	(114,339)	(151,965)
Non-cash transfer of 40% value of construction in progress of Kemerton plant to MRL	122,682)	135,928)	179,437)	164,496)	—)
Other, net	(31,412)	53,521)	28,488)	(127,522)	(58,469)
Adjustments to reconcile net income to cash flows from operating activities	(907,282)	144,315)	352,299)	115,017)	(192,974)
Net cash provided by operating activities	1,907,849)	344,257)	798,914)	719,374)	546,165)
Acquisitions, net of cash acquired	(162,239)	—)	(22,572)	(820,000)	(11,403)
Capital expenditures	(1,261,646)	(953,667)	(850,477)	(851,796)	(699,991)
Cash proceeds from divestitures, net	—)	289,791)	—)	—)	413,569)
Proceeds from sale of joint venture	—)	—)	11,000)	—)	—)
Proceeds from sale of property and equipment	—)	—)	—)	10,356)	—)
(Investments in) sales of marketable securities, net	1,942)	3,774)	903)	384)	(270)
Investments in equity and other corporate investments	(706)	(6,488)	(2,427)	(2,569)	(5,600)
Net cash used in investing activities	(1,422,649)	(666,590)	(863,573)	(1,663,625)	(303,695)
Proceeds from issuance of common stock	—)	1,453,888)	—)	—)	—)
Proceeds from borrowings of other long-term debt	1,964,216)	—)	452,163)	1,597,807)	—)
Repayments of long-term debt and credit agreements	(705,000)	(1,173,823)	(250,000)	(175,215)	—)
Other borrowings (repayments), net	(391,662)	60,991)	137,635)	(126,364)	(113,567)
Fees related to early extinguishment of debt	(9,767)	(24,877)	—)	(4,419)	—)
Dividends paid to shareholders	(184,429)	(177,853)	(161,818)	(152,204)	(144,596)
Dividends paid to noncontrolling interests	(44,208)	(96,136)	(32,061)	(83,187)	(14,756)
Repurchases of common stock	—)	—)	—)	—)	(500,000)
Proceeds from exercise of stock options	2,783)	18,392)	40,437)	4,814)	3,633)
Withholding taxes paid on stock-based compensation award distributions	(13,338)	(8,140)	(5,143)	(11,031)	(17,240)
Other	(6,708)	(2,230)	(3,952)	(7,514)	—)
Net cash provided by (used in) financing activities	611,887)	50,212)	177,261)	1,042,687)	(786,526)
Net effect of foreign exchange on cash and cash equivalents	(37,217)	(35,331)	21,012)	(40,646)	(37,927)
Increase (decrease) in cash and cash equivalents	1,059,870)	(307,452)	133,614)	57,790)	(581,983)
Cash and cash equivalents at beginning of year	439,272)	746,724)	613,110)	555,320)	1,137,303)
Cash and cash equivalents at end of year	1,499,142)	439,272)	746,724)	613,110)	555,320)

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).

Download chart

Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Albemarle Corp. net cash provided by operating activities decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Albemarle Corp. net cash used in investing activities increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Albemarle Corp. net cash provided by (used in) financing activities decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Albemarle Corp. (NYSE:ALB)

Cash Flow Statement