Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Accretion of Discount

[Table of Contents](#ibf86fcdc129f446cb1f3b45cc16d49fe_7)ALBEMARLE CORPORATION AND SUBSIDIARIESNotes to the Condensed Consolidated Financial Statements(Unaudited)The following tables set forth the reconciliation of the beginning and ending balance for the Level 3 recurring fair value measurements (in thousands):

|  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
|  | Available for Sale Debt Securities |
| Beginning balance at December 31, 2021 | $ | 246,517  |  |
| Fair value adjustment | (2,594) |  |
| Accretion of discount | 3,184  |  |
| Ending balance at March 31, 2022 | $ | 247,107  |  |

  
NOTE 16—Accumulated Other Comprehensive (Loss) Income:The components and activity in Accumulated other comprehensive (loss) income (net of deferred income taxes) consisted of the following during the periods indicated below (in thousands):

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Foreign Currency Translation and Other |  |  |  | Net Investment Hedge(a) |  | Cash Flow Hedge(b) |  | Interest Rate Swap(c) |  |  |  | Total |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Three months ended March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Balance at December 31, 2021 | $ | (391,674) |  |  |  |  | $ | —  |  |  | $ | 6,623  |  |  | $ | (7,399) |  |  |  |  | $ | (392,450) |  |
| Other comprehensive (loss) income before reclassifications | (5,909) |  |  |  |  | —  |  |  | 4,017  |  |  | —  |  |  |  |  | (1,892) |  |
| Amounts reclassified from accumulated other comprehensive loss | 20  |  |  |  |  | —  |  |  | —  |  |  | 650  |  |  |  |  | 670  |  |
| Other comprehensive (loss) income, net of tax | (5,889) |  |  |  |  | —  |  |  | 4,017  |  |  | 650  |  |  |  |  | (1,222) |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other comprehensive income attributable to noncontrolling interests | 53  |  |  |  |  | —  |  |  | —  |  |  | —  |  |  |  |  | 53  |  |
| Balance at March 31, 2022 | $ | (397,510) |  |  |  |  | $ | —  |  |  | $ | 10,640  |  |  | $ | (6,749) |  |  |  |  | $ | (393,619) |  |
| Three months ended March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Balance at December 31, 2020 | $ | (369,152) |  |  |  |  | $ | 46,593  |  |  | $ | 6,449  |  |  | $ | (10,022) |  |  |  |  | $ | (326,132) |  |
| Other comprehensive (loss) income before reclassifications | (28,167) |  |  |  |  | 5,110  |  |  | (1,600) |  |  | —  |  |  |  |  | (24,657) |  |
| Amounts reclassified from accumulated other comprehensive loss | 25  |  |  |  |  | —  |  |  | —  |  |  | 650  |  |  |  |  | 675  |  |
| Other comprehensive (loss) income, net of tax | (28,142) |  |  |  |  | 5,110  |  |  | (1,600) |  |  | 650  |  |  |  |  | (23,982) |  |
| Amounts reclassified within accumulated other comprehensive loss | 51,703  |  |  |  |  | (51,703) |  |  | —  |  |  | —  |  |  |  |  | —  |  |
| Balance at March 31, 2021 | $ | (345,591) |  |  |  |  | $ | —  |  |  | $ | 4,849  |  |  | $ | (9,372) |  |  |  |  | $ | (350,114) |  |

(a)During the first quarter of 2021 the net investment hedge was discontinued following the repayment of the 1.875% Euro-denominated senior notes. The balance of foreign exchange revaluation gains and losses associated with this discontinued net investment hedge have been reclassified to Foreign currency translation and other, and will remain within accumulated other comprehensive loss until the hedged net investment is sold or liquidated.(b)We entered into a foreign currency forward contract, which was designated and accounted for as a cash flow hedge under ASC 815, Derivatives and Hedging. See Note 14, “Fair Value of Financial Instruments,” for additional information.(c)The pre-tax portion of amounts reclassified from accumulated other comprehensive loss is included in interest expense.  
21
