Stock Analysis on Net
Stock Analysis on Net

Albemarle Corp. (NYSE:ALB)

This company has been moved to the archive! The financial data has not been updated since May 3, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Albemarle Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Accounts payable 13.28 5.90 4.62 5.82 6.89
Employee benefits, payroll and related taxes 0.94 0.92 0.98 0.83 1.03
Dividend payable to noncontrolling interest 0.34 0.00 0.00 0.00 0.00
Settlement of prior legal matter 0.00 3.03 0.00 0.00 0.00
Wodgina Project acquisition consideration obligation 0.12 1.21 1.31 2.64 0.00
Other 1.87 1.80 1.92 2.37 2.37
Accrued expenses 3.27% 6.96% 4.22% 5.84% 3.39%
Current portion of long-term debt 0.01 3.55 7.70 1.90 4.05
Dividends payable 0.30 0.41 0.39 0.39 0.46
Income taxes payable 0.87 0.25 0.31 0.33 0.80
Current liabilities 17.73% 17.08% 17.24% 14.29% 15.61%
Long-term debt, excluding current portion 20.80 18.26 26.48 29.03 18.44
Postretirement benefits 0.21 0.40 0.46 0.52 0.61
Pension benefits 1.03 2.09 3.26 2.96 3.76
Transition tax on foreign earnings 1.24 2.13 2.61 3.08 4.19
Wodgina Project acquisition consideration obligation 0.00 0.00 0.00 1.23 0.00
Noncurrent operating lease liabilities 0.64 1.16 1.12 1.16 0.00
Liabilities related to uncertain tax positions 0.54 0.25 0.14 0.21 0.30
Executive deferred compensation plan obligation 0.18 0.30 0.31 0.29 0.35
Environmental liabilities 0.20 0.34 0.35 0.34 0.53
Asset retirement obligations 0.51 0.69 0.72 0.57 0.55
Tax indemnification liability 0.43 0.61 0.29 0.31 0.60
Other 0.37 0.56 0.49 0.46 0.43
Other noncurrent liabilities 4.12% 6.05% 6.02% 7.65% 6.95%
Deferred income taxes 3.11 3.22 3.78 4.03 5.05
Noncurrent liabilities 29.27% 30.02% 40.00% 44.20% 34.81%
Total liabilities 47.01% 47.10% 57.24% 58.49% 50.42%
Common stock, $.01 par value 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 19.03 26.61 13.76 14.03 18.06
Accumulated other comprehensive loss -3.63 -3.58 -3.12 -4.01 -4.63
Retained earnings 36.24 28.22 30.19 29.85 33.85
Total Albemarle Corporation shareholders’ equity 51.65% 51.26% 40.84% 39.88% 47.29%
Noncontrolling interests 1.35 1.64 1.92 1.64 2.29
Total equity 52.99% 52.90% 42.76% 41.51% 49.58%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

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).

Accounts payable
The proportion of accounts payable within total liabilities and equity showed a fluctuating but overall increasing pattern, starting at 6.89% in 2018, declining to a low of 4.62% in 2020, and then rising sharply to 13.28% by 2022, suggesting increasing short-term obligations in recent years.
Employee benefits, payroll and related taxes
This item remained relatively stable throughout the period, fluctuating narrowly between 0.83% and 1.03%, indicating consistent costs relative to total liabilities and equity.
Dividend payable to noncontrolling interest
This liability appeared only in 2022 at 0.34%, indicating a new or previously unreported obligation in that year.
Settlement of prior legal matter
Recorded only in 2021 at 3.03%, this suggests a one-time or uncommon legal expense impacting liabilities that year.
Wodgina Project acquisition consideration obligation
This obligation appeared in 2019 at 2.64%, decreased to 0.12% by 2022, reflecting a declining outstanding payment related to this acquisition.
Other current liabilities (including accrued expenses and others)
Accrued expenses fluctuated significantly, rising from 3.39% in 2018 to a peak of 6.96% in 2021, before falling back to 3.27% in 2022. Other unspecified liabilities remained relatively stable with slight decreases.
Current portion of long-term debt
This item exhibited volatility, decreasing from 4.05% in 2018 to 1.9% in 2019, peaking at 7.7% in 2020, declining thereafter to nearly negligible (0.01%) by 2022, suggesting clearing of short-term maturities.
Dividends payable and income taxes payable
Dividends payable slightly decreased from 0.46% in 2018 to 0.3% in 2022, while income taxes payable remained low but increased notably in 2022 to 0.87%, following a dip during prior years.
Current liabilities
The percentage of current liabilities in total liabilities and equity remained fairly stable, ranging from 14.29% to 17.73%, indicating steady short-term obligations over the period.
Long-term debt, excluding current portion
Long-term debt showed significant variation, increasing from 18.44% in 2018 to a high of 29.03% in 2019, then decreasing steadily to 20.8% by 2022, reflecting debt restructuring or repayments during the period.
Postretirement and pension benefits
Both liabilities declined consistently, with postretirement benefits dropping from 0.61% to 0.21%, and pension benefits decreasing from 3.76% to 1.03%, suggesting reductions in future employee benefit obligations or related funding changes.
Transition tax on foreign earnings
This liability decreased steadily from 4.19% in 2018 to 1.24% in 2022, indicating ongoing settlement or amortization of previously recognized tax obligations related to foreign earnings.
Noncurrent operating lease liabilities
Starting at 1.16% in 2019, the value remained fairly stable at around 1.1% until 2021, then declined to 0.64% in 2022, possibly reflecting changes in lease arrangements or accounting treatments.
Liabilities related to uncertain tax positions
This item rose gradually from 0.3% in 2018 to 0.54% in 2022, signaling increased exposure or recognition of uncertain tax liabilities.
Miscellaneous noncurrent liabilities
Categories such as executive deferred compensation, environmental liabilities, asset retirement obligations, and tax indemnification liabilities generally decreased over time, with small fluctuations, suggesting improving management or settlements of these obligations.
Other noncurrent liabilities
This category decreased from 6.95% in 2018 to 4.12% in 2022, indicating a reduction in other unidentified long-term obligations.
Deferred income taxes
Deferred income taxes consistently declined from 5.05% in 2018 to 3.11% in 2022, implying realization of deferred tax liabilities or changes in tax timing differences.
Noncurrent liabilities
Noncurrent liabilities increased significantly in 2019 to 44.2%, followed by a steady decline to 29.27% in 2022, suggesting the company reduced its long-term obligations substantially after 2019.
Total liabilities
Total liabilities rose from 50.42% in 2018 to a peak of 58.49% in 2019, then decreased to approximately 47% in 2021 and 2022, showing a deleveraging trend in the latter years.
Equity components
Common stock remained nominal at 0.01%. Additional paid-in capital dropped from 18.06% in 2018 to 13.76% in 2020, then rose sharply to 26.61% in 2021 before decreasing to 19.03% in 2022, indicating possible equity issuances and repurchases.
Accumulated other comprehensive loss
This loss decreased in magnitude from -4.63% in 2018 to around -3.6% in recent years, reflecting improvements in other comprehensive income elements.
Retained earnings
Retained earnings declined from 33.85% in 2018 to 28.22% in 2021, then increased notably to 36.24% in 2022, suggesting fluctuating profitability and dividend payouts with a strong increase in earnings retention in the final year.
Total shareholders' equity and total equity
Total equity declined sharply from 49.58% in 2018 to 41.51% in 2019, then increased steadily to about 53% in 2022, denoting a recovery and strengthening of the equity base after the drop in 2019. Noncontrolling interests decreased gradually over the period.
Overall capital structure
The data reflect a capital structure with approximately half financed by liabilities and half by equity. After a peak in liabilities in 2019, there was a notable reduction in total liabilities accompanied by an increase in equity proportions, signaling improved financial leverage and balance sheet strength in recent years.