ALBEMARLE CORPALB
ALBEMARLE CORP Goodwill & Intangibles Disclosure
Goodwill and Other Intangibles:
The following table summarizes the changes in goodwill by reportable segment for the years ended December 31, 2025 and 2024 (in thousands):
| Energy Storage | Specialties | Ketjen | Total | ||||||||||||||||||||
Balance at December 31, 2023(a) | $ | 1,424,484 | $ | 32,639 | $ | 172,606 | $ | 1,629,729 | |||||||||||||||
| Foreign currency translation adjustments | (36,893) | (62) | (10,060) | (47,015) | |||||||||||||||||||
Balance at December 31, 2024(a) | 1,387,591 | 32,577 | 162,546 | 1,582,714 | |||||||||||||||||||
Impairment loss(b) | — | — | (181,070) | (181,070) | |||||||||||||||||||
| Foreign currency translation adjustments | 79,368 | 121 | 18,524 | 98,013 | |||||||||||||||||||
Balance at December 31, 2025(c) | $ | 1,466,959 | $ | 32,698 | $ | — | $ | 1,499,657 | |||||||||||||||
(a) Balance as of December 31, 2024 and 2023 included an accumulated impairment loss of $6.8 million from the PCS reporting unit within the Ketjen segment. As a result, the balance of Ketjen goodwill as of December 31, 2024 and 2023 fully consisted of goodwill related to the Refining Solutions reporting unit. The balances of Energy Storage and Specialties goodwill as of December 31, 2024 and 2023 fully consisted of goodwill related to the Energy Storage and Specialties reporting units, respectively.
(b) Impairment charge representing the full value of goodwill associated with the Refining Solutions reporting unit within the Ketjen segment. See Note 2, “Divestitures,” for further details.
(c) Balance as of December 31, 2025 included an accumulated impairment loss of $187.8 million from the Refining Solutions and PCS reporting units within the Ketjen segment. The balances of Energy Storage and Specialties goodwill as of December 31, 2025 fully consisted of goodwill related to the Energy Storage and Specialties reporting units, respectively.
Other intangibles consist of the following at December 31, 2025 and 2024 (in thousands):
| Customer Lists and Relationships | Trade Names and Trademarks(a) | Patents and Technology | Other | Total | |||||||||||||||||||||||||
| Gross Asset Value | |||||||||||||||||||||||||||||
Balance at December 31, 2023 | $ | 417,803 | $ | 13,405 | $ | 46,287 | $ | 34,649 | $ | 512,144 | |||||||||||||||||||
| Retirements | — | (2,309) | (14,506) | (4,449) | (21,264) | ||||||||||||||||||||||||
| Foreign currency translation adjustments and other | (15,791) | (426) | 484 | (1,190) | (16,923) | ||||||||||||||||||||||||
Balance at December 31, 2024 | 402,012 | 10,670 | 32,265 | 29,010 | 473,957 | ||||||||||||||||||||||||
Reclass to assets held for sale(b) | (45,289) | (10,357) | (2,900) | (111) | (58,657) | ||||||||||||||||||||||||
| Foreign currency translation adjustments and other | 27,608 | 705 | 3,115 | 1,534 | 32,962 | ||||||||||||||||||||||||
Balance at December 31, 2025 | $ | 384,331 | $ | 1,018 | $ | 32,480 | $ | 30,433 | $ | 448,262 | |||||||||||||||||||
| Accumulated Amortization | |||||||||||||||||||||||||||||
Balance at December 31, 2023 | $ | (204,481) | $ | (3,673) | $ | (26,758) | $ | (15,374) | $ | (250,286) | |||||||||||||||||||
| Amortization | (19,570) | — | (2,549) | (917) | (23,036) | ||||||||||||||||||||||||
| Retirements | — | 2,309 | 14,506 | 4,449 | 21,264 | ||||||||||||||||||||||||
| Foreign currency translation adjustments and other | 7,820 | 40 | 548 | 446 | 8,854 | ||||||||||||||||||||||||
Balance at December 31, 2024 | (216,231) | (1,324) | (14,253) | (11,396) | (243,204) | ||||||||||||||||||||||||
| Amortization | (18,896) | — | (2,576) | (958) | (22,430) | ||||||||||||||||||||||||
Reclass to assets held for sale(b) | 43,914 | 1,324 | 2,268 | 111 | 47,617 | ||||||||||||||||||||||||
| Foreign currency translation adjustments and other | (14,858) | — | (701) | (453) | (16,012) | ||||||||||||||||||||||||
Balance at December 31, 2025 | $ | (206,071) | $ | — | $ | (15,262) | $ | (12,696) | $ | (234,029) | |||||||||||||||||||
Net Book Value at December 31, 2024 | $ | 185,781 | $ | 9,346 | $ | 18,012 | $ | 17,614 | $ | 230,753 | |||||||||||||||||||
Net Book Value at December 31, 2025 | $ | 178,260 | $ | 1,018 | $ | 17,218 | $ | 17,737 | $ | 214,233 | |||||||||||||||||||
(a)Net Book Value includes only indefinite-lived intangible assets.
(b)Represents intangibles and related amortization of the Refining Solutions Business Transaction. See Note 2, “Divestitures,” for additional information.
Useful lives range from 13 – 25 years for customer lists and relationships; 8 – 20 years for patents and technology; and primarily 5 – 25 years for other.
Amortization of other intangibles amounted to $22.4 million, $23.0 million and $28.0 million for the years ended December 31, 2025, 2024 and 2023, respectively. Included in amortization for the years ended December 31, 2025, 2024 and 2023 is $16.0 million, $16.1 million and $16.7 million, respectively, of amortization using the pattern of economic benefit method.
Total estimated amortization expense of other intangibles for the next five fiscal years is as follows (in thousands):
| Estimated Amortization Expense | |||||
| 2026 | $ | 20,958 | |||
| 2027 | $ | 20,589 | |||
| 2028 | $ | 19,859 | |||
| 2029 | $ | 18,319 | |||
| 2030 | $ | 16,595 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 11, 2026 | Showing above |
| 2024 | Feb 12, 2025 | |
| 2023 | Feb 15, 2024 | |
| 2022 | Feb 15, 2023 | |
| 2021 | Feb 22, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 26, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 29, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.