Stock Analysis on Net
AI Tokens
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
Quarterly Data

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

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Accounts payable 15.78 13.28 11.95 8.72 7.41 5.90 5.04 4.96 4.79 4.62 4.55 5.14 5.82 5.82 6.47 6.90 6.13 6.89 6.33 6.11 6.38
Accrued expenses 2.30 3.27 2.79 2.64 5.85 6.96 8.83 2.94 3.68 4.22 4.67 4.14 5.23 5.84 3.66 3.56 3.62 3.39 3.45 3.62 3.48
Current portion of long-term debt 0.01 0.01 1.82 2.01 4.41 3.55 0.01 0.01 0.01 7.70 5.90 3.99 0.36 1.90 6.63 6.06 5.41 4.05 3.82 2.77 0.52
Dividends payable 0.27 0.30 0.33 0.37 0.40 0.41 0.42 0.42 0.44 0.39 0.40 0.40 0.41 0.39 0.48 0.48 0.49 0.46 0.47 0.48 0.49
Liabilities held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03
Income taxes payable 1.61 0.87 1.11 0.49 0.35 0.25 0.39 0.79 0.31 0.31 0.24 0.29 0.29 0.33 0.21 0.29 0.59 0.80 0.97 0.85 0.61
Current liabilities 19.96% 17.73% 17.99% 14.23% 18.42% 17.08% 14.69% 9.12% 9.26% 17.24% 15.76% 13.97% 12.11% 14.29% 17.46% 17.30% 16.24% 15.61% 15.05% 13.82% 11.50%
Long-term debt, excluding current portion 18.41 20.80 22.55 25.60 17.39 18.26 18.66 18.93 19.73 26.48 28.74 30.80 31.53 29.03 16.97 17.28 17.71 18.44 18.85 18.66 19.02
Postretirement benefits 0.19 0.21 0.31 0.34 0.38 0.40 0.43 0.44 0.46 0.46 0.49 0.50 0.51 0.52 0.56 0.57 0.58 0.61 0.69 0.69 0.69
Pension benefits 0.91 1.03 1.36 1.64 1.91 2.09 2.77 2.87 3.08 3.26 2.79 2.80 2.90 2.96 3.35 3.45 3.58 3.76 3.72 3.73 3.93
Noncurrent liabilities held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01
Other noncurrent liabilities 3.91 4.12 4.32 4.72 5.69 6.05 5.70 5.71 6.02 6.02 5.98 6.59 7.81 7.65 7.60 7.53 7.83 6.95 7.39 7.34 7.79
Deferred income taxes 2.77 3.11 3.10 3.13 3.34 3.22 3.33 3.97 3.70 3.78 3.96 3.99 4.09 4.03 4.83 4.78 4.97 5.05 5.06 4.86 4.88
Noncurrent liabilities 26.19% 29.27% 31.64% 35.44% 28.71% 30.02% 30.89% 31.92% 32.99% 40.00% 41.97% 44.67% 46.85% 44.20% 33.31% 33.60% 34.67% 34.81% 35.71% 35.28% 36.31%
Total liabilities 46.15% 47.01% 49.64% 49.67% 47.14% 47.10% 45.58% 41.04% 42.25% 57.24% 57.73% 58.64% 58.96% 58.49% 50.77% 50.90% 50.91% 50.42% 50.77% 49.10% 47.81%
Common stock, $.01 par value 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 16.69 19.03 21.21 23.38 25.54 26.61 26.90 26.93 28.08 13.76 13.79 13.77 14.15 14.03 16.94 16.96 17.38 18.06 18.21 21.35 24.55
Accumulated other comprehensive loss -2.92 -3.63 -5.19 -4.05 -3.45 -3.58 -3.38 -3.04 -3.40 -3.12 -3.89 -4.24 -5.35 -4.01 -5.35 -4.32 -4.54 -4.63 -4.20 -4.00 -2.31
Retained earnings 38.67 36.24 32.65 29.27 28.94 28.22 29.04 33.20 31.15 30.19 30.41 30.03 30.56 29.85 35.52 34.29 33.80 33.85 33.11 31.63 28.04
Total Albemarle Corporation shareholders’ equity 52.45% 51.65% 48.69% 48.60% 51.04% 51.26% 52.57% 57.10% 55.84% 40.84% 40.31% 39.57% 39.38% 39.88% 47.12% 46.96% 46.66% 47.29% 47.13% 49.00% 50.29%
Noncontrolling interests 1.40 1.35 1.68 1.72 1.83 1.64 1.86 1.85 1.91 1.92 1.96 1.79 1.66 1.64 2.11 2.14 2.44 2.29 2.10 1.91 1.89
Total equity 53.85% 52.99% 50.36% 50.33% 52.86% 52.90% 54.42% 58.96% 57.75% 42.76% 42.27% 41.36% 41.04% 41.51% 49.23% 49.10% 49.09% 49.58% 49.23% 50.90% 52.19%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

The capital structure exhibits a dynamic shift between debt and equity financing over the analyzed period. Total liabilities peaked between late 2019 and 2020, reaching a maximum of 58.96% of total liabilities and equity in March 2020, before retreating to a more balanced position of 46.15% by March 2023. Conversely, total equity experienced a significant expansion starting in 2021, rising from a low of 41.04% in March 2020 to 53.85% by the end of the period.

Current Liability Trends
Current liabilities have shown a general increase in weight toward the end of the period, climbing to 19.96% in March 2023. This growth is primarily driven by a substantial increase in accounts payable, which rose from a range of 4.5% to 7% between 2018 and 2021 to 15.78% by March 2023. This suggests an increasing reliance on trade credit for operational funding.
Long-Term Debt Dynamics
Long-term debt, excluding the current portion, displayed significant volatility. A sharp increase occurred in late 2019 and early 2020, where it peaked at 31.53% of the total balance sheet. This was followed by a period of deleveraging, with debt levels stabilizing around 18% to 19%, despite a brief spike to 25.60% in June 2022.
Equity Composition and Quality
There is a clear transition in the composition of shareholders' equity. Retained earnings have grown steadily from 28.04% in March 2018 to 38.67% in March 2023, indicating a strengthening capacity to fund growth through internal profit accumulation. Simultaneously, additional paid-in capital has declined from 24.55% to 16.69%, suggesting that the equity base is becoming more reliant on organic earnings than on external capital contributions.
Employee-Related Liabilities
A consistent downward trend is observed in long-term obligations related to employee benefits. Pension benefits decreased from 3.93% in early 2018 to 0.91% by March 2023, and postretirement benefits fell from 0.69% to 0.19% over the same timeframe. This reduction indicates either the settlement of these obligations or a decrease in their relative weight as the total balance sheet expanded.

Overall, the financial structure has moved toward a more equity-centric model with a notable increase in internal funding via retained earnings. While long-term debt has been managed downward from its 2020 peaks, the recent escalation in accounts payable indicates a shift in the short-term liability profile toward trade-based financing.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?