ARCADIUM LITHIUM PLC, 10-Q filed on 8/8/2024
Quarterly Report
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Cover - shares
 6 Months Ended
Jun. 30, 2024
Aug. 06, 2024
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2024  
Document Transition Report false  
Entity File Number 001-38694  
Entity Registrant Name ARCADIUM LITHIUM PLC  
Entity Incorporation, State or Country Code Y9  
Entity Tax Identification Number 98-1737136  
Entity Address, Address Line One 1818 Market Street  
Entity Address, Address Line Two Suite 2550  
Entity Address, City or Town Philadelphia  
Entity Address, State or Province PA  
Entity Address, Country US  
Entity Address, Postal Zip Code 19103  
City Area Code 215  
Local Phone Number 299-5900  
Title of 12(b) Security Ordinary Shares, par value $1.00 per share  
Trading Symbol ALTM  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   1,075,398,238
Entity Central Index Key 0001977303  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Other Address    
Entity Information [Line Items]    
Entity Address, Address Line One Suite 12, Gateway Hub  
Entity Address, Address Line Two Shannon Airport House  
Entity Address, City or Town Shannon, Co. Clare  
Entity Address, Country IE  
Entity Address, Postal Zip Code V14 E370  
City Area Code 353-1  
Local Phone Number 6875238  
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
 [1]
Jun. 30, 2024
Jun. 30, 2023
 [1]
Income Statement [Abstract]        
Revenue $ 254.5 $ 235.8 $ 515.7 $ 489.3
Cost of sales 174.1 88.5 328.9 174.8
Gross margin 80.4 147.3 186.8 314.5
Selling, general and administrative expenses 15.5 17.6 55.4 33.9
Research and development expenses 1.5 1.0 2.6 2.0
Restructuring and other charges 21.9 24.3 101.7 26.3
Total costs and expenses 213.0 131.4 488.6 237.0
Income from operations before equity in net loss of unconsolidated affiliate, interest income, net, loss on debt extinguishment and other gains 41.5 104.4 27.1 252.3
Equity in net loss of unconsolidated affiliate 0.0 7.2 0.0 15.3 [2]
Interest income, net (9.3) 0.0 (20.3) 0.0
Loss on debt extinguishment 0.9 0.0 1.1 0.0 [2]
Other gains (79.9) (7.6) (157.2) (6.5)
Income from operations before income taxes 129.8 104.8 203.5 243.5
Income tax expense 35.3 14.6 89.1 38.5
Net income 94.5 90.2 [3],[4] 114.4 205.0 [2],[4]
Net income attributable to noncontrolling interests 8.8 0.0 13.1 0.0
Net income attributable to Arcadium Lithium plc $ 85.7 $ 90.2 $ 101.3 $ 205.0
Basic earnings per ordinary share (in dollars per share) $ 0.08 $ 0.21 $ 0.10 $ 0.47
Diluted earnings per ordinary share (in dollars per share) $ 0.07 $ 0.18 $ 0.09 $ 0.41
Weighted average ordinary shares outstanding - basic (in shares) 1,074.9 432.3 1,064.2 432.2
Weighted average ordinary shares outstanding - diluted (in shares) 1,143.5 503.9 1,132.9 503.7
[1] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
[2] Represents the results of predecessor Livent’s operations for six months ended June 30, 2023, which do not include the operations of Allkem.
[3] Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 and as of December 31, 2023, which do not include the financial position or operations of Allkem.
[4] Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023, which do not include the operations of Allkem.
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical)
Jan. 04, 2024
Jun. 30, 2023
Exchange ratio   2.406
Allkem Livent Merger    
Exchange ratio 2.406  
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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
 [3]
Jun. 30, 2024
Jun. 30, 2023
 [3]
Statement of Comprehensive Income [Abstract]        
Net income $ 94.5 $ 90.2 [1],[2] $ 114.4 $ 205.0 [1],[4]
Foreign currency adjustments:        
Foreign currency translation (loss)/income arising during the period (10.3) (1.0) (30.5) 0.5
Foreign currency translation adjustments (10.3) (1.0) [2] (30.5) 0.5
Derivative instruments:        
Unrealized hedging gains, net of tax of less than zero, $(0.1), $(0.1), and $(0.2) 0.1 0.4 [2] 0.3 0.6
Total derivative instruments 0.1 0.4 0.3 0.6
Other comprehensive (loss)/income, net of tax (10.2) (0.6) (30.2) 1.1
Comprehensive income 84.3 89.6 84.2 206.1
Comprehensive income attributable to noncontrolling interests 8.8 0.0 13.1 0.0
Comprehensive income attributable to Arcadium Lithium plc $ 75.5 $ 89.6 $ 71.1 $ 206.1
[1] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
[2] Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 and as of December 31, 2023, which do not include the financial position or operations of Allkem.
[3] Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023, which do not include the operations of Allkem.
[4] Represents the results of predecessor Livent’s operations for six months ended June 30, 2023, which do not include the operations of Allkem.
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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]        
Unrealized hedging losses, tax $ 0 $ (100,000) $ (100,000) $ (200,000)
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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
 [1]
Current assets    
Cash and cash equivalents $ 380.4 $ 237.6
Trade receivables, net of allowance of approximately $0.1 in 2024 and $0.3 in 2023 94.1 106.7
Inventories, net 333.1 217.5
Prepaid and other current assets 264.0 86.4
Total current assets 1,071.6 648.2
Investments 38.2 34.8
Property, plant and equipment, net of accumulated depreciation of $307.8 in 2024 and $269.1 in 2023 7,034.9 2,237.1
Goodwill 1,300.3 120.7
Other intangibles, net 56.6 53.4
Deferred income taxes 32.7 1.4
Right of use assets - operating leases, net 53.7 6.8
Other assets 342.3 127.7
Total assets 9,930.3 3,230.1
Current liabilities    
Short-term debt and current portion of long-term debt 43.4 2.4
Accounts payable, trade and other 146.8 115.4
Accrued and other liabilities 159.8 136.8
Contract liability - short-term 37.1 4.4
Operating lease liabilities - current 8.4 1.3
Income taxes 78.3 8.3
Total current liabilities 473.8 268.6
Long-term debt 590.6 299.6
Operating lease liabilities - long-term 45.6 5.6
Environmental liabilities 7.4 7.0
Deferred income taxes 1,380.1 126.4
Contract liability - long-term 253.8 217.8
Other long-term liabilities 89.4 21.3
Commitments and contingent liabilities (Note 20) 0.0 0.0
Total current and long-term liabilities 2,840.7 946.3
Equity    
Ordinary shares; $1.00 par value; 5,000,000,000 shares authorized; 1,075,210,958 and 433,059,946 shares issued; 1,074,948,055 and 432,796,277 outstanding as of June 30, 2024 and December 31, 2023, respectively 0.1 0.1
Capital in excess of par value of ordinary shares 5,577.9 1,170.4
Retained earnings 765.8 664.5
Accumulated other comprehensive loss (80.0) (49.8)
Treasury shares, ordinary, at cost; 262,903 and 263,669 shares as of June 30, 2024 and December 31, 2023, respectively (1.0) (1.0)
Total Arcadium Lithium plc shareholders’ equity 6,262.8 1,784.2
Noncontrolling interests 826.8 499.6
Total equity 7,089.6 2,283.8
Total liabilities and equity $ 9,930.3 $ 3,230.1
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Allowance for trade receivables $ 0.1 $ 0.3
Accumulated depreciation $ 307.8 $ 269.1
Equity    
Common stock, par value (in dollars per share) $ 1.00 $ 1.00
Common stock, shares authorized (in shares) 5,000,000,000 5,000,000,000
Common stock, shares issued (in shares) 1,075,210,958 433,059,946
Common stock, outstanding (in shares) 1,074,948,055 432,796,277
Treasury stock, shares (in shares) 262,903 263,669
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash (used in)/provided by operating activities:    
Net income $ 114.4 $ 205.0 [1],[2],[3]
Adjustments to reconcile net income to cash (used in)/provided by operating activities:    
Depreciation and amortization 48.4 13.8 [2]
Restructuring and other charges (43.4) 15.7 [2]
Deferred income taxes (66.6) 2.3 [2]
Share-based compensation 5.7 4.0 [2]
Change in investments in trust fund securities (1.1) 0.8 [2]
Loss on debt extinguishment 1.1 0.0 [1],[2]
Equity in net loss of unconsolidated affiliate 0.0 15.3 [1],[2]
Other gain, Blue Chip Swap (50.5) (11.4) [2]
Other non-cash adjustments 3.0 (0.4) [2]
Changes in operating assets and liabilities:    
Trade receivables, net 77.1 19.0 [2]
Inventories 4.2 (46.7) [2]
Accounts payable, trade and other (149.7) (17.0) [2]
Changes in deferred compensation 1.6 1.1 [2]
Contract liability - short-term 32.7 (13.2) [2]
Contract liability - long-term (16.5) 0.0 [2]
Income taxes (8.3) (9.8) [2]
Change in prepaid and other current assets and other assets (125.7) 6.1 [2]
Change in accrued and other current liabilities and other long-term liabilities 53.9 (3.0) [2]
Cash (used in)/provided by operating activities (119.7) 181.6 [2]
Cash provided by/(used in) investing activities:    
Capital expenditures [4] (539.7) (157.8) [2]
Investments in Arcadium NQSP securities (1.1) (0.8) [2]
Proceeds from Blue Chip Swap, net of purchases 50.5 11.4 [2]
Acquired cash & cash equivalents - Allkem Livent Merger 681.4 0.0 [2]
Investments in unconsolidated affiliates [5] (27.0) (29.5) [2]
Other investing activities (5.7) (3.5) [2]
Cash provided by/(used in) investing activities 158.4 (180.2) [2]
Cash provided by/(used in) financing activities:    
Proceeds from Revolving Credit Facility 123.0 0.0 [2]
Repayments of Revolving Credit Facility (123.0) 0.0 [2]
Payments of financing fees (4.4) (0.3) [2]
Proceeds from issuance of ordinary shares - incentive plans 0.0 0.4 [2]
Repayments of project loan facilities (65.1) 0.0 [2]
Proceeds from prepayment of customer supply agreement 150.0 0.0 [2]
Capital contribution from noncontrolling interest - Nemaska Lithium 39.1 0.0 [2]
Payment of deposit to customs authorities 0.0 (21.7) [2]
Cash provided by/(used in) financing activities 119.6 (21.6) [2]
Effect of exchange rate changes on cash and cash equivalents (15.5) (1.0) [2]
Increase/(decrease) in cash and cash equivalents 142.8 (21.2) [2]
Cash and cash equivalents, beginning of period 237.6 189.0 [2]
Cash and cash equivalents, end of period 380.4 167.8 [2]
Supplemental Disclosure for Cash Flow:    
Cash payments for income taxes, net of refunds 98.9 41.4 [6]
Cash payments for interest [4] 11.1 5.8 [6]
Cash payments for Restructuring and other charges 145.1 10.4 [6]
Accrued capital expenditures 141.7 34.7 [6]
Accrued transaction costs - investment in unconsolidated affiliate 0.0 0.2 [6]
Operating lease right-of-use assets and lease liabilities recorded for ASC 842 $ 0.0 $ 1.2 [6]
[1] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
[2] Represents the results of predecessor Livent’s operations for six months ended June 30, 2023, which do not include the operations of Allkem.
[3] Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023, which do not include the operations of Allkem.
[4] For the six months ended June 30, 2024 and 2023, $11.9 million and $8.4 million of interest expense was capitalized, respectively.
[5] On October 18, 2023 we began consolidating Nemaska Lithium, see Note 9 for details.
[6] Represents the results of predecessor Livent’s operations for six months ended June 30, 2023, which do not include the operations of Allkem.
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Statement of Cash Flows [Abstract]    
Interest expense capitalized $ 11.9 $ 8.4
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CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Millions
Total
Ordinary Shares, $1.00 Per Share Par Value
Capital In Excess of Par
Retained Earnings
Accumulated Other Comprehensive Loss
Treasury Shares
Non-controlling Interest
Beginning balance at Dec. 31, 2022 [1] $ 1,443.0 $ 0.1 $ 1,160.4 $ 334.4 $ (51.0) $ (0.9) $ 0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income [1] 114.8     114.8      
Share compensation plans [1] 1.9   1.9        
Shares withheld for taxes - ordinary share issuances [1] (0.5)   (0.5)        
Exercise of stock options [1] 0.1   0.1        
Net hedging gains, net of income tax [1] 0.2       0.2    
Foreign currency translation adjustments [1] 1.5       1.5    
Ending balance at Mar. 31, 2023 [1] 1,561.0 0.1 1,161.9 449.2 (49.3) (0.9) 0.0
Beginning balance at Dec. 31, 2022 [1] 1,443.0 0.1 1,160.4 334.4 (51.0) (0.9) 0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income [2],[3],[4] 205.0            
Net hedging gains, net of income tax [4] 0.6            
Foreign currency translation adjustments [4] 0.5            
Ending balance at Jun. 30, 2023 [1] 1,653.0 0.1 1,164.3 539.4 (49.9) (0.9) 0.0
Beginning balance at Mar. 31, 2023 [1] 1,561.0 0.1 1,161.9 449.2 (49.3) (0.9) 0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income [1] 90.2 [2],[4]     90.2      
Share compensation plans [1] 2.1   2.1        
Exercise of stock options [1] 0.3   0.3        
Net hedging gains, net of income tax [1] 0.4 [4]       0.4    
Foreign currency translation adjustments [1] (1.0) [4]       (1.0)    
Ending balance at Jun. 30, 2023 [1] 1,653.0 0.1 1,164.3 539.4 (49.9) (0.9) 0.0
Beginning balance at Dec. 31, 2023 2,283.8 [5] 0.1 1,170.4 664.5 (49.8) (1.0) 499.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 19.9     15.6     4.3
Allkem Livent Merger 4,665.4   4,390.4       275.0
Share compensation plans 15.8   15.8        
Shares withheld for taxes - ordinary share issuances (2.6)   (2.6)        
Net hedging gains, net of income tax 0.2       0.2    
Foreign currency translation adjustments (20.2)       (20.2)    
Ending balance at Mar. 31, 2024 6,962.3 0.1 5,574.0 680.1 (69.8) (1.0) 778.9
Beginning balance at Dec. 31, 2023 2,283.8 [5] 0.1 1,170.4 664.5 (49.8) (1.0) 499.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 114.4            
Net hedging gains, net of income tax 0.3            
Foreign currency translation adjustments (30.5)            
Ending balance at Jun. 30, 2024 7,089.6 0.1 5,577.9 765.8 (80.0) (1.0) 826.8
Beginning balance at Mar. 31, 2024 6,962.3 0.1 5,574.0 680.1 (69.8) (1.0) 778.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 94.5     85.7     8.8
Capital contribution from noncontrolling interest 39.1           39.1
Share compensation plans 3.9   3.9        
Net hedging gains, net of income tax 0.1       0.1    
Foreign currency translation adjustments (10.3)       (10.3)    
Ending balance at Jun. 30, 2024 $ 7,089.6 $ 0.1 $ 5,577.9 $ 765.8 $ (80.0) $ (1.0) $ 826.8
[1] Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 and as of December 31, 2023, which do not include the financial position or operations of Allkem.
[2] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
[3] Represents the results of predecessor Livent’s operations for six months ended June 30, 2023, which do not include the operations of Allkem.
[4] Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023, which do not include the operations of Allkem.
[5] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
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CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares
Jun. 30, 2024
Jan. 04, 2024
Dec. 31, 2023
Jun. 30, 2023
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]          
Common stock, par value (in dollars per share) $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
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Description of the Business
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of the Business Description of the Business
Background and Nature of Operations
Arcadium Lithium plc ("Arcadium", "Arcadium Lithium", "we", "us", "Company" or "our") is a public limited company incorporated under the laws of the Bailiwick of Jersey. On January 4, 2024, Arcadium Lithium completed the previously announced Allkem Livent Merger by which Livent Corporation, a Delaware corporation ("Livent"), and Allkem Limited, an Australian company limited by shares ("Allkem"), became wholly owned subsidiaries of Arcadium Lithium. On January 4, 2024, the Company's shares started trading on the New York Stock Exchange under the trading symbol ALTM. See Note 4, Allkem Livent Merger for further details.
While Arcadium Lithium is a newly formed company from the merger of Allkem and Livent, our company has a rich heritage of innovation and a long, proven history of producing performance lithium compounds in a safe and sustainable manner. We are vertically integrated, with a global footprint and industry-leading end-to-end capabilities across lithium production including hard-rock mining, conventional pond-based brine extraction, direct lithium brine extraction and lithium chemicals manufacturing.
Our lithium asset portfolio, consisting of both operating assets and development projects, provides us with global reach, scale, and product flexibility. Today we have operating resources in Argentina and Australia and downstream conversion assets in the U.S., China, Japan, and the U.K. We also have multiple development stage projects in Argentina (greenfield and brownfield) and Canada (greenfield) that will in time allow us to increase production capabilities and meet the future needs of customers around the world. In the U.S., we operate the only integrated mine-to-metal production facility in the Western Hemisphere for high purity lithium metal, a core component of next generation battery technologies.
We manufacture a wide range of lithium products, including battery-grade lithium hydroxide, battery-grade lithium carbonate, spodumene, and other specialty chemicals such as butyllithium and high purity lithium metal. Our products are used in various performance applications, including lithium-based batteries, specialty polymers and pharmaceutical products and chemical synthesis applications.
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Significant Accounting Policies and Related Financial Information
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Significant Accounting Policies and Related Financial Information Significant Accounting Policies and Related Financial Information
In this Form 10-Q, the results of the Company as of June 30, 2024 and for the three and six months ended June 30, 2024 include the operations and financial position of Allkem, respectively. Because Arcadium Lithium plc is the successor company to Livent in the Allkem Livent Merger, we are presenting the results of predecessor Livent’s operations for the three and six months ended June 30, 2023 and as of December 31, 2023, which do not include the financial position or operations of Allkem. Refer to Note 4 for further information related to the Allkem Livent Merger.
The accompanying condensed consolidated financial statements were prepared in accordance with the requirements of the Securities and Exchange Commission ("SEC") for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by U.S. GAAP have been condensed or omitted from these interim financial statements. The financial statements included in this report reflect all normal and recurring adjustments which, in the opinion of management, are necessary for a fair presentation of our condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023, the condensed consolidated results of operations, the condensed consolidated statement of comprehensive income and the condensed consolidated statement of changes in equity for the three and six months ended June 30, 2024 and 2023, and the condensed consolidated cash flows for the six months ended June 30, 2024 and 2023. All intercompany transactions and balances have been eliminated in consolidation. For entities that we control, but own less than 100%, we record the minority ownership as noncontrolling interest. The unaudited results of operations for the interim periods reported are not necessarily indicative of results to be expected for the full year. These statements, therefore, should be read in conjunction with the annual consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the "2023 Annual Report on Form 10-K").
Reclassifications
Certain prior period balances have been reclassified to conform to the current period presentation in the condensed consolidated financial statements and the accompanying notes.
Effective April 1, 2024, we began presenting gains and losses from foreign currency remeasurements as a component of Other gains/losses. Prior to April 1, 2024, we included gains and losses resulting from foreign currency remeasurements as a component of Cost of sales and Restructuring and other charges in the condensed consolidated statement of operations. The following tables summarize the accounts that were recast for the three and six months ended June 30, 2023 and the three months ended March 31, 2024 to conform to the current period presentation.
Three Months Ended June 30,Six Months Ended June 30
20232023
(in Millions)Prior PresentationLoss/(gain) Reclassified Recast PresentationPrior PresentationLoss/(gain) ReclassifiedRecast Presentation
Cost of sales$92.4 $3.9 $88.5 $179.9 $5.1 $174.8 
Restructuring and other charges24.2 (0.1)24.3 26.1 (0.2)26.3 
Other (gains)/losses(11.4)3.8 (7.6)(11.4)4.9 (6.5)
Three Months Ended March 31,
2024
(in Millions)Prior Presentation(Gain)/loss ReclassifiedRecast Presentation
Cost of sales$116.8 $(38.0)$154.8 
Restructuring and other charges$83.6 $3.8 $79.8 
Other (gains)/losses$(43.1)$(34.2)$(77.3)
Segment Information
In January 2024, Arcadium Lithium completed the Allkem Livent Merger. See Note 4, Allkem Livent Merger for further details. Following the closing of the Allkem Livent Merger, we currently operate as one reportable segment based on the commonalities among our products and services. As integration evolves, we will continue to assess this determination.
Revenue Recognition
Revenue from product sales is recognized when we satisfy a performance obligation by transferring the promised goods to a customer, that is, when control of the good transfers to the customer. Payment terms generally range from 20 to 180 days.
In determining when the control of goods is transferred, we typically assess, among other things, the transfer of title and risk of loss and the shipping terms of the contract.
We record amounts billed for shipping and handling fees as revenue. Costs incurred for shipping and handling are recorded in cost of sales. When we perform shipping and handling activities after the transfer of control to the customer (e.g., when control transfers prior to delivery), they are considered fulfillment activities, and accordingly, the costs are accrued to cost of sales when the related revenue is recognized.
Amounts billed for sales and use taxes, VAT, and certain excise and other specific transactional taxes imposed on revenue-producing transactions are presented on a net basis and excluded from revenue in the condensed consolidated statements of operations. We record a liability until remitted to the respective taxing authority.
We satisfy our obligations by transferring goods and services in exchange for consideration from customers. The timing of performance sometimes differs from the timing the associated consideration is received from the customer, thus resulting in the recognition of a contract asset or liability. These may arise from provisional pricing within certain of our customer contracts, or if the customer’s payment of consideration is received prior to completion of our related performance obligation. Provisional pricing results in variable consideration which we estimate by using an expected value method taking into account all information that is reasonably available including publicly available pricing forecasts. We only include variable consideration within the transaction price to the extent that it is probable that a significant reversal in the amount of revenue recognized will not occur.
Equity method investments
We stop applying the equity method when we have reduced the value of our equity method investment, commitments and additional investments (i.e., loans or advances) in the investee to zero. If the investee subsequently reports net income, we resume applying the equity method when our share of that net income is equal to the suspended losses (i.e., our share of the investee's net losses not previously recognized).
If facts and circumstances indicate that a decrease in value of the investment has occurred that is other than temporary, we recognize an impairment loss equal to an amount by which the carrying amount exceeds the fair value of the equity method investment. There were no impairments during the six months ended June 30, 2024.
Goodwill
The Company accounts for goodwill and other intangibles acquired in a business combination in conformity with current accounting guidance that requires that goodwill and indefinite-lived intangible assets not be amortized.
Under the guidance, goodwill is tested for impairment by comparing the estimated fair value of reporting units to the related carrying value. Reporting units are either operating business segments or one level below operating business segments for which discrete financial information is available and for which operating results are regularly reviewed by the business management. In applying the goodwill impairment test, a qualitative test ("Step 0") is initially performed, under which qualitative factors are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Qualitative factors may include, but are not limited to, economic conditions, industry and market considerations, cost factors, overall financial performance of the reporting units and other entity and reporting unit specific events. If after assessing these qualitative factors, it is determined that it is "more-likely-than-not" that the fair value of the reporting unit is less than the carrying value, a quantitative test ("Step 1") is performed. During Step 1, the fair value is estimated using a discounted cash flow model.
Impairment evaluations of goodwill could result in a reduction in our recorded asset values which could have a material adverse effect on our financial position and results of operations. We perform reviews of goodwill on an annual basis, or more frequently if triggering events indicate a possible impairment. We test goodwill at the reporting unit level by comparing the carrying value of the net assets of the reporting unit, including goodwill, to the reporting unit's fair value. If the carrying values of goodwill exceed their fair value, the goodwill would be considered impaired. If any impairment or related charge is warranted, our financial position and results of operations could be materially affected. Any such impairment or related charge could be a result of, for example, sustained declines in the Company’s stock price; the deterioration of the cost of equity or debt capital increases due to valuations for comparable companies or comparable acquisitions valuations; or the deterioration of the outlook for future cash flows for the reporting unit due to but not limited to, increased competition, changes to discount rate, downward forecast revisions, restricted plans or changes in applicable regulations affecting our business.
Mine Development Costs
Mine development costs include: a) exploration and evaluation ("E&E") expenditures incurred during the search for mineral resources as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource; and b) stripping costs of removing overburden and waste materials to access the mineral body at an open pit mine.
The Company capitalizes E&E expenditures to PP&E under a successful efforts basis when proven and probable reserves are established for the sites where E&E activities are being performed. E&E assets recognized as part of business combinations are also capitalized. All other E&E expenditures are expensed.
Stripping costs incurred prior to the production phase are capitalized to PP&E during the development of an open pit mine. When multiple open pits exist at a mining complex utilizing common processing facilities, such pre-production stripping costs are capitalized at each pit. The removal, production, and sale of de minimis saleable materials may occur during the development phase of an open pit mine and are assigned incremental mining costs related to the removal of that material. The production phase of an open pit mine commences when saleable minerals, beyond a de minimis amount, are produced. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Cost of sales in the same period as the revenue from sale of that inventory.
Capitalized mine development costs are amortized using the units-of-production method based on estimated recoverable minerals in proven and probable reserves, and are amortized over the estimated life of the mineral body.
Mineral Interests
Mineral interests include acquired interests in production, development and exploration stage properties. Mineral interests are capitalized at their fair value at the acquisition date, either as an individual asset purchase or as part of a business combination. Mineral interests in the development and exploration stage are not amortized until the underlying property is converted to the production stage, at which point the mineral interests are amortized over the estimated recoverable proven and probable reserves using a units-of-production method.
Asset Retirement Obligations
The Company accounts for asset retirement obligations ("AROs") in accordance with ASC 410-20, Asset Retirement Obligations "ASC 410-20". We record AROs at present value at the time the liability is incurred if we can reasonably estimate the settlement date. The associated AROs are capitalized as part of the carrying amount of related long-lived assets. In future periods, the liability is accreted to its present value and the capitalized cost is depreciated over the useful life of the related asset. We also adjust the liability for changes resulting from the passage of time and/or revisions to the timing or the amount of the original estimate. Upon retirement of the long-lived asset, we settle the obligation for its recorded amount. See Note 14, for details.
The carrying amounts of the AROs as of June 30, 2024 and December 31, 2023 was $11.3 million and $3.7 million, respectively. These amounts are included in Accrued and other current liabilities and Other long-term liabilities in our condensed consolidated balance sheets.
Blue Chip Swap
Our wholly owned subsidiaries in Argentina use the U.S. dollar as their functional currency. Argentina peso-denominated monetary assets and liabilities are remeasured at each balance sheet date to the official currency exchange rate then in effect which represents the exchange rate available for external commerce (import payments and export collections) and financial payments, with currency remeasurement and other transaction gains and losses recognized in earnings. In September 2019, the President of Argentina reinstituted exchange controls restricting foreign currency purchases in an attempt to stabilize Argentina’s financial markets. As a result, a legal trading mechanism known as the Blue Chip Swap emerged in Argentina for all individuals or entities to transfer U.S. dollars out of and into Argentina. The Blue Chip Swap rate is the implicit exchange rate resulting from the Blue Chip Swap transaction. In the first half of 2024, U.S. dollars were transferred into Argentina through the Blue Chip Swap method whereby we realized a gain from the purchase in U.S. dollars and sale in Argentina pesos of Argentina Sovereign U.S. dollar-denominated bonds. The gain of $20.9 million and $50.5 million for the three and six months ended June 30, 2024 was recorded to Other gains in our condensed consolidated statements of operations.
Li-Metal transaction
On August 2, 2024, Arcadium announced it acquired the lithium metal division of Li-Metal Corp. The all-cash $11 million USD transaction includes the intellectual property and physical assets related to lithium metal production, including a pilot production facility in Ontario, Canada.
Arcadium Lithium uses lithium metal to manufacture specialty products, including high purity lithium metal ("HPM") and LIOVIX®, a proprietary printable lithium metal formulation, for primary battery applications and next-generation batteries. Arcadium Lithium also processes lithium metal into butyllithium, as well as other lithium specialty chemicals used in medicine, agriculture, electronics and other industries.
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Recently Issued and Adopted Accounting Pronouncements and Regulatory Items
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Recently Issued and Adopted Accounting Pronouncements and Regulatory Items Recently Issued and Adopted Accounting Pronouncements and Regulatory Items
In December 2023, the Financial Accounting Standard Board ("FASB") issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU enhances existing income tax disclosures to better assess how an entity's operation and related tax risks, tax planning, and operational opportunities affect its tax rate and prospects for future cash flows. The ASU is effective for annual periods beginning after December 15, 2024. We are currently evaluating the effect the guidance will have on our condensed consolidated financial statements.
In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU improves reportable segment disclosure requirements, primarily through enhanced disclosures related to significant segment expenses. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024. We are currently evaluating the effect the guidance will have on our condensed consolidated financial statements.
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Allkem Livent Merger
 6 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Allkem Livent Merger Allkem Livent Merger
On January 4, 2024 (the "Acquisition Date") Arcadium completed the previously announced Allkem Livent Merger by and among Livent Corporation, a Delaware corporation ("Livent"), Allkem Limited, an Australian public company ("Allkem"), Arcadium Lithium plc, a public limited company incorporated under the laws of the Bailiwick of Jersey ("Arcadium"), Lightning-A Merger Sub, Inc. ("Merger Sub"), and Arcadium Lithium Intermediate IRL Limited, a private company limited by shares and incorporated and registered in Ireland ("Irish IntermediateCo").
The transaction was consummated by way of (a) a scheme of arrangement under Australian law, pursuant to which each issued, fully paid ordinary share of Allkem held by Allkem shareholders was exchanged for either one Arcadium Lithium CHESS Depositary Instrument (a "CDI") quoted on the Australian Stock Exchange (each CDI representing a beneficial ownership interest in one Arcadium ordinary share), or one Arcadium ordinary share (par value $1.00 per share) and (b) a merger, whereby Merger Sub, a wholly owned subsidiary of Irish IntermediateCo (a direct wholly owned subsidiary of Arcadium) merged with and into Livent, with Livent as the surviving entity. Each share of Livent common stock, par value $0.001 per share (each, a "Livent Share"), was converted into the right to receive 2.406 Arcadium ordinary shares.
Pursuant to the Allkem Livent Merger, 433,156,855 Arcadium ordinary shares (including 96,909 related to accelerated PRSU awards) were issued to former Livent stockholders and 641,337,840 Arcadium ordinary shares (comprising 98,725,616 Arcadium ordinary shares and 542,612,224 CDIs in respect of Arcadium ordinary shares) were issued to former Allkem shareholders. The Acquisition Date fair value of consideration transferred consisted of the following:
(in millions)Amount
Consideration:
Fair value of Arcadium ordinary shares issued to Allkem shareholders$4,385.6 
Fair value of converted Allkem performance rights attributable to pre-combination service4.8 
Total consideration$4,390.4 
The Allkem Livent Merger meets the criteria to be accounted for as a business combination and is accounted for using the acquisition method of accounting with Livent being treated as the accounting acquirer. Under the acquisition method of accounting, the assets and liabilities of Allkem and its subsidiaries are recorded at their respective fair values as of the date of completion of the Allkem Livent Merger and the difference between the fair value of the consideration paid for the acquired entity and fair value of the net assets acquired is recorded as goodwill.
The fair value of the assets, liabilities and noncontrolling interest of Allkem under the business combination guidance, including the impact of income taxes, is preliminary. The preliminary fair value allocation is subject to change for up to one year subsequent to the Acquisition Date. Determining the fair value of the assets and liabilities of Allkem requires judgement and certain assumptions to be made, the most significant of these being related to the valuation of Allkem's mining properties and rights.
Transaction and related costs directly attributable to the acquisition of Allkem, consisting primarily of advisor fees, legal fees, accounting fees, and certain deal related bonuses were $19.8 million and $86.8 million, for the three and six months ended June 30, 2024, respectively. The costs were expensed as incurred and are included in restructuring and other charges.
The following table summarizes the preliminary purchase price allocation for the Allkem Livent Merger as of January 4, 2024, which is subject to change:


(in Millions, except per share amounts)Amount
Total consideration$4,390.4 
Assets acquired:
Cash and cash equivalents$681.4 
Trade receivables64.2 
Inventories121.3 
Prepaid and other current assets87.2 
Property, plant and equipment4,326.1 
Right of use assets - operating leases, net53.4 
Deferred income tax assets26.3 
Other assets (1)
192.9 
Total assets acquired$5,552.8 
Liabilities assumed:
Accounts payable, trade and other$223.7 
Accrued and other current liabilities35.1 
Income taxes78.5 
Long-term debt including current portion301.7 
Operating lease liabilities - long-term53.4 
Environmental liabilities9.8 
Deferred income tax liabilities1,315.3 
Other long-term liabilities49.5 
Total liabilities assumed$2,067.0 
Fair value of net assets acquired$3,485.8 
Add: Fair value of noncontrolling interests acquired 275.0 
Fair value of net assets acquired less noncontrolling interests acquired$3,210.8 
Goodwill$1,179.6 
___________________
1.Includes long-term semi-finished goods inventory.
Trade receivables
The $64.2 million of acquired trade receivables represents the fair value of the gross amount due under the contracts.
Property, Plant and Equipment
Property, plant and equipment is inclusive of the fair value of mineral rights totaling $2,745 million and non-mineral rights property, plant and equipment totaling $1,581.1 million. The fair value of the mineral rights was estimated using the multi-period excess earnings method. The excess earnings methodology is an income approach methodology that estimates the projected cash flows of the business attributable to the asset, net of charges for the use of other identifiable assets of the business including working capital, fixed assets, and other intangible assets. Mineral rights are depreciated using a units-of-production method while all other property, plant and equipment is depreciated using the straight-line method.
Goodwill
Goodwill from acquisitions represents the excess of the purchase price over the fair value of net assets acquired. The amount disclosed within the table, subject to change for up to one year subsequent to the Acquisition Date, is attributable to the value of growth opportunities and expected synergies created by incorporating Allkem's business and operations into the Company's operations and the value of the assembled workforce. The goodwill has no amortizable basis for income tax purposes.
Allkem revenues and earnings
The following table represents Allkem's revenues and net earnings included in Arcadium's condensed consolidated statements of operations from the Acquisition Date through June 30, 2024.
(in Millions)Three Months Ended June 30,Six Months Ended June 30,
2024
Revenue$83.8 $186.3 
Income from operations before income taxes$75.8 $152.2 

Pro Forma Financial Information
Due to the Allkem Livent Merger closing on January 4, 2024, all activity in the first quarter of 2024 except for the first three days of January, which management deemed not material, is included in Arcadium’s condensed consolidated statements of operations. The following unaudited pro forma financial information for the three and six months ended June 30, 2023 is based on our historical consolidated financial statements adjusted to reflect the Allkem Livent Merger as if it occurred on January 1, 2023, the first day of the most recently completed fiscal year. The unaudited pro forma financial information is not necessarily indicative of what would have occurred if the Allkem Livent Merger had been completed as of the beginning of the periods presented, nor is it indicative of future results. The unaudited pro forma information is not necessarily indicative of operating results that would have been achieved had the acquisition been completed as of January 1, 2023 and does not intend to project the future financial results of the Company after the acquisition. The unaudited pro forma information is based on certain assumptions, which management believes are reasonable, and does not reflect the cost of any integration activities or synergies that may be derived from any integration activities. The unaudited pro forma financial results are as follows:
(in Millions)Three Months Ended June 30,Six Months Ended June 30,
2023
(Unaudited)
Revenue$569.8 $1,139.2 
Net income278.4 $513.4 
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Goodwill
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
The following table summarizes the changes in goodwill for the six months ended June 30, 2024.

(in Millions)AllkemNemaska LithiumTotal
Balance as of December 31, 2023
$— $120.7 $120.7 
Acquisitions - Allkem Livent Merger1,189.2 — 1,189.2 
Measurement period adjustments(9.6)— (9.6)
Balance as of June 30, 2024
$1,179.6 $120.7 $1,300.3 

See Note 4 for further details.
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Revenue Recognition
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition     
Disaggregation of revenue
We disaggregate revenue from contracts with customers by geographical areas (based on product destination) and by product categories. The following table provides information about disaggregated revenue by major geographical region:
(in Millions)Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Asia Pacific (1)
$211.8 $171.6 $431.9 $338.6 
North America (1)
22.8 40.7 43.5 92.6 
Europe, Middle East & Africa19.5 23.5 39.1 56.3 
Latin America0.4 — 1.2 1.8 
Consolidated Revenue$254.5 $235.8 $515.7 $489.3 
1.During the three months ended June 30, 2024, countries with sales in excess of 10% of consolidated revenue consisted of China and Japan. Sales for the three months ended June 30, 2024 for China and Japan totaled $155.1 million and $31.8 million, respectively. During the six months ended June 30, 2024, countries with sales in excess of 10% of consolidated revenue consisted of China, Japan, and South Korea. Sales for the six months ended June 30, 2024 for China, Japan, and South Korea totaled $281.0 million, $77.8 million, and $64.9 million, respectively. During the three months ended June 30, 2023, countries with sales in excess of 10% of consolidated revenue consisted of China, Japan, the U.S., and South Korea. Sales for the three months ended June 30, 2023 for China, Japan, the U.S., and South Korea totaled $90.8 million, $42.7 million, $39.9 million, and $31.2 million, respectively. During the six months ended June 30, 2023, countries with sales in excess of 10% of consolidated revenue consisted of China, the U.S., Japan, and South Korea. Sales for the six months ended June 30, 2023 for China, the U.S., Japan, and South Korea, totaled $179.2 million, $90.1 million, $76.1 million, and $66.3 million, respectively.
For the three months ended June 30, 2024, two customers accounted for approximately 24%, and 21%, respectively, of consolidated revenue and our 10 largest customers accounted in aggregate for approximately 72% of consolidated revenue. For the six months ended June 30, 2024, three customers accounted for approximately 23%, 18%, and 10%, respectively, of consolidated revenue and our 10 largest customers accounted in aggregate for approximately 73% of consolidated revenue. For the three months ended June 30, 2023, two customers accounted for approximately 24% and 23% of consolidated revenue and our 10 largest customers accounted in aggregate for approximately 72% of consolidated revenue. For the six months ended June 30, 2023, two customers accounted for approximately 24% and 21% of consolidated revenue and our 10 largest customers accounted in aggregate for approximately 68% of consolidated revenue. A loss of any material customer could have a material adverse effect on our business, financial condition and results of operations.
The following table provides information about disaggregated revenue by major product category:
(in Millions)Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Lithium Hydroxide$113.1 $153.6 $223.7 $306.3 
Lithium Carbonate (1)
72.7 5.1 152.5 14.5 
Butyllithium and Other Lithium Specialties44.9 77.1 90.9 168.5 
Spodumene Concentrate (2)
23.8 — 48.6 — 
Consolidated Revenue$254.5 $235.8 $515.7 $489.3 
______________________
1.Includes lithium carbonate by-product revenue.
2.Includes low-grade spodumene sales and minimal other products.

Contract asset and contract liability balances
We satisfy our obligations by transferring goods and services in exchange for consideration from customers. The timing of performance sometimes differs from the timing the associated consideration is received from the customer, thus resulting in the recognition of a contract asset or liability. Provisional pricing within certain of our customer contracts may result in recognition
of a contract asset or liability. We recognize a contract liability if the customer’s payment of consideration is received prior to completion of our related performance obligation.
The following table presents the opening and closing balances of our contract liabilities and current trade receivables, net of allowances from contracts with customers.
(in Millions)Balance as of June 30, 2024Balance as of December 31, 2023(Decrease)/increase
Receivables from contracts with customers, net of allowances$94.1 $106.7 $(12.6)
Contract liability - short-term37.1 4.4 32.7 
Contract liability - long-term 253.8 217.8 36.0 

Performance obligations
Occasionally, we may enter into multi-year take or pay supply agreements with customers. The aggregate amount of revenue expected to be recognized related to these contracts’ performance obligations is approximately $1.7 billion in the next five years. Based on our past experience with the customers under these arrangements, we expect to continue recognizing revenue in accordance with the contracts as we transfer control of the product to the customer. However, in the case a shortfall of volume purchases occurs, we will recognize the amount payable by the customer over the remaining performance obligations in the contract.
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Inventories, Net
 6 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
Inventories, Net Inventories, Net
Inventories consisted of the following:
 (in Millions)June 30, 2024December 31, 2023
Finished goods$130.3 $59.1 
Semi-finished goods 101.4 108.8 
Raw materials, supplies, and other101.4 49.6 
Inventory, net$333.1 $217.5 
Inventories are stated at the lower of cost or net realizable value. Inventory costs include those costs directly attributable to products before sale, including all manufacturing overhead but excluding distribution costs. All inventories are determined on a first-in, first-out ("FIFO") basis.
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Investments
 6 Months Ended
Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Investments Investments    
Investments consisted of the following:
 (in Millions)June 30, 2024December 31, 2023
ESM ILiAD, LLC$30.1 $30.1 
Arcadium NQSP6.3 4.7 
Other1.8 — 
Investments$38.2 $34.8 
ESM ILiAD, LLC ("ESM")
In the fourth quarter of 2023, the Company entered into an agreement with EnergySource Minerals, LLC ("EnergySource"), a developer of lithium projects in the Salton Sea Known Geothermal Resource Area in California, for a minority equity interest in ESM, a subsidiary of EnergySource and the parent company of ILiAD Technologies, LLC ("ILiAD Technologies"). In connection with its investment in ESM, Arcadium Lithium will have the right to license ILiAD Technologies' Integrated Lithium Adsorption Desorption ("ILiAD") technology for potential deployment at its lithium brine resources in Argentina.
Arcadium Lithium accounts for its interest in ESM under ASC Topic 321, Investments – Equity Securities ("ASC 321"). Since our investment in ESM does not have a readily determinable fair value, we use the measurement alternative under ASC 321. Our investment is measured at cost less impairments, adjusted for observable price changes in orderly transactions for the identical or similar investment of the same issuer. If the Company determines that an indicator of impairment or upward adjustment is present, an adjustment is recorded, which is measured as the difference between carrying value and estimated fair value. Estimated fair value is generally determined using an income approach on discounted cash flows or negotiated transaction values. As of June 30, 2024 and December 31, 2023, the carrying amount of our investment in ESM was $30.1 million.
Toyotsu Lithium Corporation ("TLC")
The Company owns 49% of the Class A voting shares and 100% of the Class B non-voting shares in TLC. Toyota Tsusho Corporation ("TTC") owns 51% of the Class A voting shares. As a result, the Company has a 75% economic interest and a 49% ownership interest in TLC and TTC has the remaining 25% economic interest and 51% ownership interest in TLC. TLC constructed and now operates the Naraha Lithium Hydroxide Plant (the "Naraha Plant"), located in Japan. The technical grade lithium carbonate feedstock for the plant is sourced from the Company’s Olaroz Plant.
The Company accounts for its interest in TLC as an equity method investment because it does not have control but has significant influence. This is evidenced by the Company having 2 of the 5 board members while decisions are made by a majority. In addition to capital contributions made through its investment in TLC, Allkem has also provided past funding through loans. At the Acquisition Date, the carrying values of the investment in TLC and a fully reserved loan receivable were zero and fair value was deemed to be equal to carrying value.
For the three and six months ended June 30, 2024, we did not record any gains or losses related to our interest in TLC to Equity in net loss of unconsolidated affiliates in our condensed consolidated statements of operations. At June 30, 2024, the carrying values of our interest in TLC and the loan receivable were zero.
Partially-Owned Subsidiaries and Noncontrolling Interests
Nemaska Lithium Inc. ("Nemaska Lithium", or "NLI")
Nemaska Lithium, domiciled in Canada and headquartered in Montreal, Québec, is a non-public lithium company not yet in the production stage. It is a development company aiming to vertically integrate, from extracting, processing and concentrating spodumene to conversion of spodumene into battery-grade lithium hydroxide, primarily intended for EV and other energy storage applications. Its primary assets are construction in progress and intangibles principally related to intellectual property. Nemaska Lithium intends to develop the Whabouchi spodumene mine and concentrator in the James Bay region of Québec and a lithium hydroxide conversion plant in Bécancour, Québec (collectively, the "Nemaska Lithium Project"). As a developing company and to fund the Nemaska Lithium Project, Nemaska Lithium is reliant on securing financing from its shareholders through share subscriptions.
On October 18, 2023, we entered into an amendment to our shareholders agreement with Nemaska Lithium, and also amendments to certain related service agreements. The amendments to these agreements provide QLP with control of certain substantive participating rights, and as such, the Company began to consolidate Nemaska Lithium as of October 18, 2023. Nemaska Lithium is a development company which, as of the October 18, 2023 consolidation date, met the U.S. GAAP definition of a business and, as such, the Company remeasured its equity interest in Nemaska, including the noncontrolling interest of Investissement Québec ("IQ"), at fair value as of the consolidation date. We estimated the fair value of IQ's noncontrolling interest by multiplying the total fair value of Nemaska Lithium equity by IQ's equity ownership interest and also considered any discounts for lack of control and marketability.
The fair value of the assets and liabilities of Nemaska Lithium assumed under business combination accounting guidance for the Nemaska Lithium consolidation, including the impact of income taxes, is preliminary. The preliminary fair value allocation is subject to change for up to one year subsequent to the October 18, 2023 consolidation date of Nemaska Lithium. Determining the fair value of the assets and liabilities of Nemaska Lithium requires judgment and certain assumptions to be made, the most significant of these being related to the valuation of Nemaska Lithium's mining properties and rights. Nemaska Lithium is consolidated on a one-quarter lag basis.
Before October 18, 2023, the Company accounted for its 50% interest in Nemaska Lithium as an equity method investment on a one-quarter lag basis and it was included in Investments in our consolidated balance sheets. The carrying amount of our interest in Nemaska Lithium was $437.1 million as of December 31, 2022 under equity method investment accounting. For the three and six months ended June 30, 2023 we recorded a $7.2 million and $15.3 million loss related to our interest in Nemaska Lithium to Equity in net loss of unconsolidated affiliate in our condensed consolidated statements of operations.
Arcadium's cash and cash equivalents balance in its condensed consolidated balance sheet as of June 30, 2024 includes Nemaska Lithium's cash of $149.7 million at March 31, 2024 as Nemaska Lithium is consolidated on a one-quarter lag. All cash at Nemaska Lithium will be used for capital expenditures and operating expenses of the Nemaska Lithium Project.
On March 28, 2024, Nemaska Lithium received cash of $150 million related to a second advance payment in connection with a customer supply agreement repayable in equal quarterly installments beginning in January 2027 and ending in October 2031. The related liability, consolidated on a quarter lag basis, is $97.8 million debt and $52.2 million contract liability. A total of $350 million in prepayments are expected from the customer and as of June 30, 2024, $225 million has been received.
Sales de Jujuy Pte Ltd and Sales de Jujuy S.A.
The Company has an interest of 72.68% in Sales de Jujuy Pte Ltd ("SDJ Pte"), 66.5% in Sales de Jujuy S.A. ("SDJ SA"), the legal entities which operate the Olaroz Lithium Facility (the "Olaroz Plant").
Located in the Jujuy Province of northern Argentina, the Olaroz Plant produces lithium carbonate chemicals for the battery, technical and chemical markets. The Olaroz Plant is operated through SDJ SA, which is a 91.5% owned subsidiary of SDJ Pte, a Singaporean company owned by Arcadium (72.68%) and Toyotsu Lithium Pte Ltd. (27.32%), an affiliated company of TTC. Jujuy Energia y Minera Sociedad del Estado ("JEMSE") owns the remaining 8.5% of SDJ SA. Consequently, the effective equity ownership of the Olaroz Plant is 66.5% by Arcadium, 25% by TTC, and 8.5% by JEMSE.
As of June 30, 2024, Arcadium had restricted cash of $24.6 million on deposit with Mizuho as collateral for the Project Loan Facility and classified within Other non-current assets in its condensed consolidated balance sheets. See Note 15 for details.
Arcadium's cash and cash equivalents balance in its condensed consolidated balance sheet as of June 30, 2024 includes $65 million held by the entities discussed above.
Arcadium funded JEMSE’s equity contributions in SDJ SA with an interest-free loan (the "JEMSE Receivable") to be repaid by JEMSE out of 33% of the dividends it receives from SDJ SA. The fair value of the non-current receivable is $5.0 million as of June 30, 2024.
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Partially-Owned Subsidiaries and Noncontrolling Interests
 6 Months Ended
Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Partially-Owned Subsidiaries and Noncontrolling Interests Investments    
Investments consisted of the following:
 (in Millions)June 30, 2024December 31, 2023
ESM ILiAD, LLC$30.1 $30.1 
Arcadium NQSP6.3 4.7 
Other1.8 — 
Investments$38.2 $34.8 
ESM ILiAD, LLC ("ESM")
In the fourth quarter of 2023, the Company entered into an agreement with EnergySource Minerals, LLC ("EnergySource"), a developer of lithium projects in the Salton Sea Known Geothermal Resource Area in California, for a minority equity interest in ESM, a subsidiary of EnergySource and the parent company of ILiAD Technologies, LLC ("ILiAD Technologies"). In connection with its investment in ESM, Arcadium Lithium will have the right to license ILiAD Technologies' Integrated Lithium Adsorption Desorption ("ILiAD") technology for potential deployment at its lithium brine resources in Argentina.
Arcadium Lithium accounts for its interest in ESM under ASC Topic 321, Investments – Equity Securities ("ASC 321"). Since our investment in ESM does not have a readily determinable fair value, we use the measurement alternative under ASC 321. Our investment is measured at cost less impairments, adjusted for observable price changes in orderly transactions for the identical or similar investment of the same issuer. If the Company determines that an indicator of impairment or upward adjustment is present, an adjustment is recorded, which is measured as the difference between carrying value and estimated fair value. Estimated fair value is generally determined using an income approach on discounted cash flows or negotiated transaction values. As of June 30, 2024 and December 31, 2023, the carrying amount of our investment in ESM was $30.1 million.
Toyotsu Lithium Corporation ("TLC")
The Company owns 49% of the Class A voting shares and 100% of the Class B non-voting shares in TLC. Toyota Tsusho Corporation ("TTC") owns 51% of the Class A voting shares. As a result, the Company has a 75% economic interest and a 49% ownership interest in TLC and TTC has the remaining 25% economic interest and 51% ownership interest in TLC. TLC constructed and now operates the Naraha Lithium Hydroxide Plant (the "Naraha Plant"), located in Japan. The technical grade lithium carbonate feedstock for the plant is sourced from the Company’s Olaroz Plant.
The Company accounts for its interest in TLC as an equity method investment because it does not have control but has significant influence. This is evidenced by the Company having 2 of the 5 board members while decisions are made by a majority. In addition to capital contributions made through its investment in TLC, Allkem has also provided past funding through loans. At the Acquisition Date, the carrying values of the investment in TLC and a fully reserved loan receivable were zero and fair value was deemed to be equal to carrying value.
For the three and six months ended June 30, 2024, we did not record any gains or losses related to our interest in TLC to Equity in net loss of unconsolidated affiliates in our condensed consolidated statements of operations. At June 30, 2024, the carrying values of our interest in TLC and the loan receivable were zero.
Partially-Owned Subsidiaries and Noncontrolling Interests
Nemaska Lithium Inc. ("Nemaska Lithium", or "NLI")
Nemaska Lithium, domiciled in Canada and headquartered in Montreal, Québec, is a non-public lithium company not yet in the production stage. It is a development company aiming to vertically integrate, from extracting, processing and concentrating spodumene to conversion of spodumene into battery-grade lithium hydroxide, primarily intended for EV and other energy storage applications. Its primary assets are construction in progress and intangibles principally related to intellectual property. Nemaska Lithium intends to develop the Whabouchi spodumene mine and concentrator in the James Bay region of Québec and a lithium hydroxide conversion plant in Bécancour, Québec (collectively, the "Nemaska Lithium Project"). As a developing company and to fund the Nemaska Lithium Project, Nemaska Lithium is reliant on securing financing from its shareholders through share subscriptions.
On October 18, 2023, we entered into an amendment to our shareholders agreement with Nemaska Lithium, and also amendments to certain related service agreements. The amendments to these agreements provide QLP with control of certain substantive participating rights, and as such, the Company began to consolidate Nemaska Lithium as of October 18, 2023. Nemaska Lithium is a development company which, as of the October 18, 2023 consolidation date, met the U.S. GAAP definition of a business and, as such, the Company remeasured its equity interest in Nemaska, including the noncontrolling interest of Investissement Québec ("IQ"), at fair value as of the consolidation date. We estimated the fair value of IQ's noncontrolling interest by multiplying the total fair value of Nemaska Lithium equity by IQ's equity ownership interest and also considered any discounts for lack of control and marketability.
The fair value of the assets and liabilities of Nemaska Lithium assumed under business combination accounting guidance for the Nemaska Lithium consolidation, including the impact of income taxes, is preliminary. The preliminary fair value allocation is subject to change for up to one year subsequent to the October 18, 2023 consolidation date of Nemaska Lithium. Determining the fair value of the assets and liabilities of Nemaska Lithium requires judgment and certain assumptions to be made, the most significant of these being related to the valuation of Nemaska Lithium's mining properties and rights. Nemaska Lithium is consolidated on a one-quarter lag basis.
Before October 18, 2023, the Company accounted for its 50% interest in Nemaska Lithium as an equity method investment on a one-quarter lag basis and it was included in Investments in our consolidated balance sheets. The carrying amount of our interest in Nemaska Lithium was $437.1 million as of December 31, 2022 under equity method investment accounting. For the three and six months ended June 30, 2023 we recorded a $7.2 million and $15.3 million loss related to our interest in Nemaska Lithium to Equity in net loss of unconsolidated affiliate in our condensed consolidated statements of operations.
Arcadium's cash and cash equivalents balance in its condensed consolidated balance sheet as of June 30, 2024 includes Nemaska Lithium's cash of $149.7 million at March 31, 2024 as Nemaska Lithium is consolidated on a one-quarter lag. All cash at Nemaska Lithium will be used for capital expenditures and operating expenses of the Nemaska Lithium Project.
On March 28, 2024, Nemaska Lithium received cash of $150 million related to a second advance payment in connection with a customer supply agreement repayable in equal quarterly installments beginning in January 2027 and ending in October 2031. The related liability, consolidated on a quarter lag basis, is $97.8 million debt and $52.2 million contract liability. A total of $350 million in prepayments are expected from the customer and as of June 30, 2024, $225 million has been received.
Sales de Jujuy Pte Ltd and Sales de Jujuy S.A.
The Company has an interest of 72.68% in Sales de Jujuy Pte Ltd ("SDJ Pte"), 66.5% in Sales de Jujuy S.A. ("SDJ SA"), the legal entities which operate the Olaroz Lithium Facility (the "Olaroz Plant").
Located in the Jujuy Province of northern Argentina, the Olaroz Plant produces lithium carbonate chemicals for the battery, technical and chemical markets. The Olaroz Plant is operated through SDJ SA, which is a 91.5% owned subsidiary of SDJ Pte, a Singaporean company owned by Arcadium (72.68%) and Toyotsu Lithium Pte Ltd. (27.32%), an affiliated company of TTC. Jujuy Energia y Minera Sociedad del Estado ("JEMSE") owns the remaining 8.5% of SDJ SA. Consequently, the effective equity ownership of the Olaroz Plant is 66.5% by Arcadium, 25% by TTC, and 8.5% by JEMSE.
As of June 30, 2024, Arcadium had restricted cash of $24.6 million on deposit with Mizuho as collateral for the Project Loan Facility and classified within Other non-current assets in its condensed consolidated balance sheets. See Note 15 for details.
Arcadium's cash and cash equivalents balance in its condensed consolidated balance sheet as of June 30, 2024 includes $65 million held by the entities discussed above.
Arcadium funded JEMSE’s equity contributions in SDJ SA with an interest-free loan (the "JEMSE Receivable") to be repaid by JEMSE out of 33% of the dividends it receives from SDJ SA. The fair value of the non-current receivable is $5.0 million as of June 30, 2024.
v3.24.2.u1
Property, Plant and Equipment, Net
 6 Months Ended
Jun. 30, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Property, plant and equipment consisted of the following:
(in Millions)June 30, 2024December 31, 2023
Land and land improvements$319.8 $106.2 
Buildings896.7 134.9 
Machinery and equipment735.0 420.7 
Mineral rights3,280.0 560.0 
Construction in progress2,111.2 1,284.4 
Total cost$7,342.7 $2,506.2 
Accumulated depreciation(307.8)(269.1)
Property, plant and equipment, net$7,034.9 $2,237.1 
Depreciation is calculated principally on a straight-line basis over the estimated useful lives of the assets or a units-of-production basis based on the rate of depletion of reserves. Land is not depreciated. The major classifications of property, equipment and software, including their respective principal depreciation and amortization method and expected useful lives, consisted of the following:
Asset type Depreciation and amortization methodUseful Life
Land N/A—
Land improvements Straight-line20 years
Buildings Straight-line
20-40 years
Mineral rightsUnits-of-productionBased on rate of depletion of reserves
Mining extraction equipmentUnits-of-productionBased on rate of depletion of reserves
Leased plant and equipmentStraight-line
Lease period (1-10.5 years)
Other machinery and equipment Straight-line
3-18 years
SoftwareStraight-line
3-10 years
Depreciation expense was $44.7 million and $12.3 million for the six months ended June 30, 2024 and 2023, respectively.
v3.24.2.u1
Restructuring and Other Charges
 6 Months Ended
Jun. 30, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Other Charges Restructuring and Other Charges
The following table shows other charges included in Restructuring and other charges in the condensed consolidated statements of operations:
Three Months Ended June 30,Six Months Ended June 30,
(in Millions)2024202320242023
Restructuring charges:
Severance-related and exit costs $3.2 $0.7 $14.1 $2.4 
Other charges:
Costs related to the Allkem Livent Merger19.8 18.8 86.8 18.8 
Bessemer City plant fire loss— 5.0 — 5.0 
Other(1.1)(0.2)0.8 0.1 
Total Restructuring and other charges$21.9 $24.3 $101.7 $26.3 
v3.24.2.u1
Other gains
 6 Months Ended
Jun. 30, 2024
Other Income and Expenses [Abstract]  
Other gains Other gains
The following table shows amounts included in Other gains in the condensed consolidated statements of operations:
Three Months Ended June 30,Six Months Ended June 30,
(in Millions)2024202320242023
Blue Chip Swap gains: (1)
Non-recurring - SDV SA and MdA Holdings LLC (2)
$16.8 $11.4 $36.5 $11.4 
Recurring - SDJ and MdA4.1 — 14.0 — 
Total Blue Chip Swap gains20.9 11.4 50.5 11.4 
Foreign currency remeasurement gains/(losses):
Remeasurement gains on U.S. dollar denominated cash held by foreign currency functional subsidiary0.4 — 14.3 — 
All other foreign currency remeasurement gains/(losses) (3)
58.6 (3.8)92.8 (4.9)
Total Foreign currency remeasurement gains/(losses)59.0 (3.8)107.1 (4.9)
Loss on trading securities— — (0.4)— 
Total Other gains$79.9 $7.6 $157.2 $6.5 
___________________________
1.See Note 2 for details.
2.Represents the non-recurring gain from the sale in Argentina pesos of Argentina Sovereign U.S. dollar-denominated bonds due to the divergence of Argentina's Blue Chip Swap market exchange rate from the official rate.
3.The three and six months ended June 30, 2024 primarily includes impact of currency fluctuations on deferred income tax assets and liabilities related to the Allkem Livent Merger.
v3.24.2.u1
Income Taxes
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
We determine our interim tax provision using an estimated annual effective tax rate methodology ("EAETR") in accordance with U.S. GAAP. The EAETR is applied to the year-to-date ordinary income, exclusive of discrete items. The tax effects of discrete items are then included to arrive at the total reported interim tax provision.
The determination of the EAETR is based upon a number of estimates, including the estimated annual pretax ordinary income in each tax jurisdiction in which we operate. As our projections of ordinary income change throughout the year, the EAETR will change period-to-period. The tax effects of discrete items are recognized in the tax provision in the period they occur in accordance with U.S. GAAP. Depending on various factors, such as the item’s significance in relation to total income and the rate of tax applicable in the jurisdiction to which it relates, discrete items in any quarter can materially impact the reported effective tax rate. As a global enterprise, our tax expense can be impacted by changes in tax rates or laws, the finalization of tax audits and reviews, as well as other factors. As a result, there can be significant volatility in interim tax provisions.
Provision for income taxes for the three and six months ended June 30, 2024 was an expense of $35.3 million and $89.1 million resulting in an effective tax rate of 27.2% and 43.8%, respectively. Provision for income taxes for the three and six months ended June 30, 2023 was an expense of $14.6 million and $38.5 million resulting in an effective tax rate of 13.9% and 15.8%, respectively.
v3.24.2.u1
Asset Retirement Obligations
 6 Months Ended
Jun. 30, 2024
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation Asset Retirement Obligations
Legacy Allkem asset retirement obligations acquired in the Allkem Livent Merger were recorded at fair value on the Acquisition Date and consist of $7.3 million, $1.5 million and $1.0 million related to the Mt Cattlin spodumene mine in Western Australia, the Olaroz lithium brine extraction facility in Jujuy, Argentina and the Sal de Vida lithium brine extraction facility (currently under development) in Catamarca, Argentina, respectively.
v3.24.2.u1
Debt
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Debt Debt
Long-term debt
Long-term debt consists of the following:
Interest Rate
Percentage
Maturity
Date		June 30, 2024December 31, 2023
(in Millions)SOFR borrowingsBase rate borrowings
Revolving Credit Facility (1)
7.19%9.25%2027$— $— 
4.125% Convertible Senior Notes due 2025
4.125%2025245.8 245.8 
Transaction costs - 2025 Notes
(1.6)(2.4)
Nemaska - Prepayment agreement - tranche 1 (2)
8.9%75.0 75.0 
Discount - Prepayment agreement(19.4)(19.8)
Nemaska - Prepayment agreement - tranche 2 (2)
9.4%150.0 — 
Discount - Prepayment agreement(53.4)— 
Nemaska - Other0.5 3.4 
Debt assumed in Allkem Livent Merger (3)
Project Loan Facility - Stage 1 of Olaroz Plant4.90%20249.1 — 
Project Loan Facility - Stage 2 of Olaroz Plant2.61%2029144.0 — 
Affiliate Loans with TTC15.25%203081.5 — 
Affiliate Loan with TLP10.34%20262.5 — 
Total debt assumed in Allkem Livent Merger237.1 — 
Subtotal long-term debt (including current maturities)634.0 302.0 
Less current maturities(43.4)(2.4)
Total long-term debt $590.6 $299.6 
______________________________
1.As of June 30, 2024 and December 31, 2023, there were $20.6 million and $15.5 million, respectively, in letters of credit outstanding under our Revolving Credit Facility and $479.4 million and $484.5 million available funds as of June 30, 2024 and December 31, 2023, respectively. Fund availability is subject to the Company meeting its debt covenants.
2.Represents advance payments in connection with customer supply agreement which do not have a contractual interest rate or bear any actual interest and are repayable in equal quarterly installments beginning in January 2027 and ending in October 2031. Represents U.S. GAAP imputed interest rate.
3.On May 30, 2024, SDV SA paid the outstanding principal balance of $47.0 million, a prepayment fee of $0.9 million and accrued interest and commitment fees of $1.3 million to repay the Sal de Vida Project Financing Facility in its entirety.
4.125% Convertible Senior Notes due 2025
In 2020, the Company issued $245.8 million in aggregate principal amount of 4.125% Convertible Senior Notes due in July 2025 (the "2025 Notes"). The 2025 Notes are our general unsecured senior obligations. Total net cash proceeds received were $238.2 million net of $7.6 million of third-party transaction costs, including initial purchasers' discounts and commissions. The Company used or will use the net proceeds received to finance or refinance eligible green projects designed to align with the provisions of the International Capital Market Association Green Bond Principles 2018.
Each $1,000 of principal of the 2025 Notes was initially convertible into 114.4885 shares of common stock of Livent Corporation, which was equivalent to an initial conversion price of $8.73 per share, subject to adjustment upon the occurrence of specified events. Following the effectiveness of that certain First Supplemental Indenture, dated as of January 4, 2024, by and among the Company, Livent Corporation and U.S. Bank Trust Company, National Association, each $1,000 of principal of the 2025 Notes is convertible into 275.459331 shares of our ordinary shares, which is equivalent to a conversion price of $3.63 per share, subject to adjustment upon the occurrence of specified events. We may redeem for cash all or any portion of the 2025 Notes, at our option, if the last reported sale price of our ordinary shares has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last
trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption at a redemption price equal to 100% of the principal amount of the 2025 Notes to be redeemed, plus accrued and unpaid interest. Holders of the 2025 Notes may convert their notes at any time, at their option, on or after January 15, 2025. Further, holders of the 2025 Notes may convert their notes at any time, at their option, prior to January 15, 2025 only under the following circumstances: (1) during any calendar quarter commencing after September 30, 2020 (and only during such calendar quarter), if the last reported sale price of our ordinary shares for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each trading day; (2) during the five-business day period after any five-consecutive trading day period in which the trading price per $1,000 principal amount of the 2025 Notes for each trading day of such period is less than 98% of the product of the last reported sale price of our ordinary shares and the conversion rate on each such trading day, (3) if we call any or all of the 2020 Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date or (4) if specified corporate events occur. Upon conversion, the 2025 Notes will be settled in cash, shares of our ordinary shares or a combination thereof, at our election. If a fundamental change occurs prior to the maturity date, holders of the 2025 Notes may require us to repurchase all or a portion of their 2025 Notes for cash at a repurchase price equal to 100% of the principal amount plus any accrued and unpaid interest. In addition, if specific corporate events occur prior to the maturity date or if we deliver a notice of redemption, we will increase the conversion rate for a holder who elects to convert its 2025 Notes in connection with such an event or notice of redemption in certain circumstances.
The last reported sale price of our ordinary shares for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, June 30, 2024 was not greater than or equal to 130% of the conversion price as adjusted for the Allkem Livent Merger, which is $4.72, on each trading day, and as a result, the holders do not have the option to convert all or any portion of their 2025 Notes through September 30, 2024.
The conversion rate for the 2025 Notes is 275.4593 ordinary shares of Arcadium Lithium per $1,000 principal amount of 2025 Notes. The 2025 Notes mature in July 2025 and are classified as long-term debt.
On the July 15, 2025 maturity date, we are required to cash settle any outstanding 2025 Notes that have not otherwise been redeemed or converted.
The Company recognized non-cash interest related to the amortization of transaction costs for the 2025 Notes of $0.4 million and $0.8 million for the three and six months ended June 30, 2024, respectively, all of which was capitalized. The Company recorded $2.5 million and $5.0 million of accrued interest expense related to the principal amount for the three and six months ended June 30, 2024, respectively, all of which was capitalized.
Amended and Restated Credit Agreement, (the "Revolving Credit Facility")
On January 4, 2024, Livent Corporation, Livent USA Corp., the Company, Arcadium Lithium Financing IRL Limited ("FinCo") and Irish IntermediateCo (collectively, the "Borrowers" and, each, a "Borrower"), the guarantors party thereto from time to time (the "Guarantors"), the lenders party thereto (the "Lenders") and issuing banks party thereto and Citibank, N.A., as administrative agent (the "Administrative Agent") for the Lenders, entered into a Joinder and First Amendment (the "Credit Agreement Amendment") to that certain Amended and Restated Credit Agreement, dated as of September 1, 2022, among Livent, Livent USA Corp., the guarantors party thereto from time to time, the lenders party thereto from time to time and the Administrative Agent (the "Credit Agreement" and as amended by the Credit Agreement Amendment, the Amended Credit Agreement").
The Credit Agreement Amendment provided for, among other things, (i) the addition of Arcadium, Irish IntermediateCo and FinCo as borrowers and obligors under the Amended Credit Agreement and (ii) the assignment of certain of Livent Corporation's rights and obligations (including information reporting obligations) under the Amended Credit Agreement to Arcadium.
The Revolving Credit Facility provides for a $500 million senior secured revolving credit facility, $50 million of which is available for the issuance of letters of credit for the account of the Borrowers, with an option to request, and subject to each Lender’s sole discretion, that the aggregate revolving credit commitments be increased to up to $700 million. The issuance of letters of credit and the proceeds of revolving credit loans made pursuant to the Revolving Credit Facility may be used for general corporate purposes, including capital expenditures and permitted acquisitions.
Revolving loans under the Revolving Credit Facility will bear interest at a floating rate, which will be (i) a base rate, (ii) Adjusted Term Secured Overnight Financing Rate ("SOFR") (defined as the forward-looking SOFR term rate published by CME Group Benchmark Administration Limited plus 0.10% per annum subject to a floor of zero) or (iii) Euro Interbank
Offered Rate ("EURIBOR"), plus, in each case, an applicable margin, as determined in accordance with the provisions of the Revolving Credit Facility. The Revolving Credit Facility includes a quarterly commitment fee on the average daily unused amount of each Lender’s revolving credit commitment at a rate equal to an applicable percentage based on the Company’s first lien leverage ratio. The initial commitment fee is 0.25% per annum. Amounts under the Revolving Credit Facility may be borrowed, repaid and re-borrowed from time to time until the final maturity date on September 1, 2027. Voluntary prepayments and commitment reductions are permitted at any time without payment of any prepayment fee upon proper notice and subject to minimum dollar amounts. Certain of the Borrowers’ domestic subsidiaries (the "Guarantors") guarantee the obligations of the Borrowers under the Revolving Credit Facility. The obligations of the Borrower and the Guarantors are secured by all of the assets of the Borrowers and the Guarantors, including the Borrowers’ facility and real estate in Bessemer City, North Carolina, subject to certain exceptions and exclusions.
We recorded $0.8 million of incremental deferred financing costs in the condensed consolidated balance sheets for the Revolving Credit Facility commitment and legal fees and a zero and $0.2 million loss on debt extinguishment in the condensed consolidated statements of operations for the three and six months ended June 30, 2024, respectively, for the write off of existing deferred financing costs to recognize a partial change in syndication related to the Revolving Credit Facility. The carrying value of our deferred financing costs was $2.5 million as of June 30, 2024 and is recorded to Other assets in our condensed consolidated balance sheet.
Covenants
The Credit Agreement contains certain affirmative and negative covenants that are binding on us and our subsidiary, Livent USA Corp., as borrowers (the "Borrowers") and their subsidiaries, including, among others, restrictions (subject to exceptions and qualifications) on the ability of the Borrowers and their subsidiaries to create liens, to undertake fundamental changes, to incur debt, to sell or dispose of assets, to make investments, to make restricted payments such as dividends, distributions or equity repurchases, to change the nature of their businesses, to enter into transactions with affiliates and to enter into certain restrictive agreements. Furthermore, the Borrowers are subject to financial covenants regarding leverage (measured as the ratio of debt to adjusted earnings) and interest coverage (measured as the ratio of adjusted earnings to interest expense). Our maximum allowable first lien leverage ratio is 3.5 as of June 30, 2024. Our minimum allowable interest coverage ratio is 3.5. We were in compliance with all requirements of the covenants as of June 30, 2024.
Debt assumed as a result of Allkem Livent Merger
The following is a summary of Allkem's indebtedness that Arcadium Lithium assumed as a result of the Allkem Livent Merger.
Project Financing Facility
Galaxy Lithium (SAL DE VIDA) S.A. ("SDV SA"), which is owned 100% by Arcadium, entered into a project financing facility with the International Finance Corporation related to the Sal de Vida development project ("Sal de Vida") in Argentina (the "Project Financing Facility"). The Project Financing Facility originally provided for a total of $180.0 million in limited recourse, sustainability-linked green project financing maturing in March 2033. On May 30, 2024, SDV SA paid the lender the outstanding principal balance of $47.0 million, a prepayment fee of $0.9 million and accrued interest and commitment fees of $1.3 million to repay the Project Financing Facility in its entirety.
Project Loan Facility
SDJ SA has a project loan facility with Mizuho Bank related to the Olaroz Plant (the "Project Loan Facility"):
•The Project Loan Facility for Stage 1 of the Olaroz Plant had an outstanding principal balance of $9.1 million as of June 30, 2024. The interest rate for the Stage 1 loan is the SOFR plus a margin of 0.80%. The interest rate related to 88.6% of the loan was hedged in 2015 with such rate currently at 4.896% until the last repayment in September 2024. Sales de Jujuy Pte Ltd has provided security in favor of Mizuho Bank over the shares it owns in SDJ SA and the Japan Organization for Metals and Energy Security, which covers 82.35% of the outstanding principal amount; and
•The Project Loan Facility for Stage 2 of the Olaroz project had an outstanding balance of $144.0 million as of June 30, 2024. The interest rate for the Stage 2 loan is a fixed rate of 2.6119% per annum until expiry in March 2029.
As of June 30, 2024, Arcadium had restricted cash of $24.6 million on deposit with Mizuho as collateral for the Project Loan Facility and classified within Other non-current assets in its condensed consolidated balance sheet.
As of June 30, 2024, Arcadium has reserved $108.0 million of its cash and cash equivalents in support of a guarantee to TTC associated with the Stage 2 Project Loan Facility for the Olaroz Plant. Arcadium would incur a 2.5% fee for permitted reductions to this reserve.
Affiliate Loans With TTC
SDJ SA has eleven loans with TTC related to the Olaroz Plant originally providing for a total of $93.0 million in principal. As of June 30, 2024, the loans have an outstanding principal balance of $81.5 million and are payable ranging from July 2024 until March 2030.
v3.24.2.u1
Share-based Compensation
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Share-based Compensation Share-based Compensation
Arcadium Lithium plc Omnibus Incentive Plan (the "Arcadium Plan")
As of June 30, 2024, there were 64,548,000 Arcadium ordinary shares authorized for issuance under the Arcadium Plan. The Arcadium Plan provides for the grant of a variety of cash and equity awards to officers, directors, employees and consultants, including share options, restricted shares, restricted share units (including performance units), share appreciation rights, and management incentive awards. The Compensation Committee of the Arcadium Board of Directors (the "Arcadium Committee") has the authority to amend the Arcadium Plan at any time, approve financial targets, award grants, establish performance objectives and conditions and the times and conditions for payment of awards.
Share options granted under the Arcadium Plan may be incentive or non-qualified share options. The exercise price for share options may not be less than the fair market value of the share at the date of grant. Awards granted under the Arcadium Plan vest or become exercisable or payable at the time designated by the Arcadium Committee. The options granted in 2024 will vest on the first, second and third anniversaries of the date of grant, subject generally to continued employment, and cost is recognized over the vesting period. Incentive and non-qualified options granted under the Arcadium Plan expire not later than 10 years from the grant date.
Under the Arcadium Plan, awards of restricted share units ("RSUs") vest over periods designated by the Arcadium Committee. The RSUs granted in 2024 to employees will vest equally on the first, second and third anniversaries of the grant date, subject generally to continued employment, and cost is recognized over the vesting period. The RSUs granted to non-employee directors in 2024 vest at the Company's next annual meeting of shareholders following the grant date. Compensation cost is recognized over the vesting periods based on the market value of Arcadium ordinary shares on the grant date of the award.
Allkem Replacement Awards
Pursuant to the Transaction Agreement, the equity awards of Allkem (including performance rights) outstanding as of immediately prior to the closing of the Allkem Livent Merger were converted into equity awards denominated in shares of Arcadium ordinary shares. The Company issued time-based vesting restricted shares in connection with the conversion of such awards. The estimated fair value of the portion of the Allkem equity awards for which the required service period had been completed at the time of the closing of the Allkem Livent Merger was treated as purchase consideration. The remaining estimated fair value is recorded as compensation expense over the remainder of the service period associated with the awards. The Allkem Replacement Awards are authorized for issuance under the Arcadium Plan.
Legacy Livent Awards
As of June 30, 2024, there were 6,579,305 Arcadium ordinary shares authorized for issuance upon the exercise or settlement of the Legacy Livent Awards.
Share Compensation
We recognized the following share compensation expense for Legacy Livent Awards and awards under the Arcadium Plan:
Three Months Ended June 30,Six Months Ended June 30,
(in Millions)2024
Share Option Expense, net of taxes of $0.1 and $0.2
$0.8 $1.2 
Restricted Share Expense, net of taxes of $0.4 and $1.1
2.7 16.8 
Performance-Based Restricted Share Expense, net of taxes of zero and less than $0.1
— 0.4 
Total Share Compensation Expense, net of taxes of $0.5 and $1.3 (1)
$3.5 $18.4 
____________________ 
(1)    Gross share compensation charges of $3.5 million and $0.5 million were recorded to Selling, general and administrative expenses and Restructuring and other charges, respectively, in our condensed consolidated statements of operations for the three months
ended June 30, 2024. Gross share compensation charges of $5.7 million and $14.0 million were recorded to Selling, general and administrative expenses and Restructuring and other charges, respectively, in our condensed consolidated statements of operations for the six months ended June 30, 2024.
Share Options
The grant date fair values of the share options granted in the six months ended June 30, 2024, were estimated using the Black-Scholes option valuation model, the key assumptions for which are listed in the table below. The expected volatility assumption is based on the historical volatility of a group of ten of our publicly traded peers that operate in the specialty chemical sector. The expected life represents the period of time that options granted are expected to be outstanding. The risk-free interest rate is based on U.S. Treasury securities with terms equal to the expected timing of share option exercises as of the grant date. The dividend yield assumption reflects anticipated dividends on Arcadium's ordinary shares. Arcadium share options granted in the six months ended June 30, 2024 will vest equally on the first, second and third anniversaries of the grant date and expire ten years from the date of grant.
The following summary shows Black Scholes valuation assumptions for Arcadium Plan share options granted in 2024: 
Six months ended June 30, 2024
Grant date3/6/20245/14/20246/28/2024
Expected dividend yield—%—%—%
Expected volatility31.18%31.97%33.00%
Expected life (in years)6.06.06.0
Risk-free interest rate4.08%4.41%4.28%
The weighted-average grant date fair value of share options granted during the six months ended June 30, 2024 was $1.92 per share.
The following summary shows share option activity for the Allkem Livent Merger and the Arcadium Plan for the six months ended June 30, 2024:
Number of Options Granted But Not ExercisedWeighted-Average Remaining Contractual Life
(in Years)		Weighted-Average Exercise Price Per ShareAggregate Intrinsic Value (in Millions)
Outstanding December 31, 20235,060,687 5.6 years$6.73 $6.5 
Granted3,877,317 $4.92 
Exercised(53,056)$4.05 $— 
Forfeited(2,610)$9.70 
Outstanding at June 30, 2024
8,882,338 7.1$5.96 $0.1 
Exercisable at June 30, 2024
4,136,405 4.5$6.25 $0.1 
As of June 30, 2024, we had total remaining unrecognized compensation cost related to unvested share options of $7.8 million which will be amortized over the weighted-average remaining requisite service period of approximately 2.6 years.
Restricted Share Unit Awards
The grant date fair value of RSUs under the Arcadium Plan is based on the market price per share of Arcadium's ordinary shares on the date of grant, and the related compensation cost is amortized to expense on a straight-line basis over the vesting period during which the employees perform related services, which for the RSUs granted during the six months ended June 30, 2024, will vest equally on the first, second and third anniversaries of the grant date.
Pursuant to the Transaction Agreement, on the Acquisition Date, 927,510 employee RSUs vested on an accelerated pro rata basis. The following table shows RSU activity for the Allkem Livent Merger and the Arcadium Plan for the six months ended June 30, 2024:
Restricted Share Units
Number of
awards		Weighted-Average Grant Date Fair ValueAggregate Intrinsic Value (in Millions)
Nonvested December 31, 20232,287,088 $7.83 $17.1 
Granted (1)
3,868,888 $5.44 
Vested (2)
(1,869,675)$7.19 
Nonvested June 30, 2024
4,286,301 $5.95 $14.4 
___________________
1.The Company granted 1,080,825 Allkem Replacement Awards on January 12, 2024 pursuant to the Transaction Agreement.
2.Immediately prior to the Acquisition Date, 768,440 non-employee Director RSUs vested and were paid out in cash of $5.3 million pursuant to the Transaction Agreement.
As of June 30, 2024, the Arcadium Plan had total remaining unrecognized compensation cost related to unvested RSUs of $17.9 million which will be amortized over the weighted-average remaining requisite service period of approximately 2.4 years.

Performance-Based Restricted Share Unit ("PRSU") Awards
Pursuant to the Transaction Agreement, on the Acquisition Date, 96,885 employee PRSUs vested on an accelerated basis at the higher of the PRSU payout on the accelerated vest date, which was —%, or 100%. The following table shows PRSU activity for the six months ended June 30, 2024.
Performance-Based Restricted Share Units
Number of
awards		Weighted-Average Grant Date Fair ValueAggregate Intrinsic Value (in Millions)
Nonvested as of December 31, 202396,885 $9.42 $0.7 
Vested(96,885)$9.42 
Nonvested as of June 30, 2024
— $— $— 
v3.24.2.u1
Equity
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Equity Equity
After the closing of the Allkem Livent Merger on January 4, 2024 and as of June 30, 2024, we had 5 billion ordinary shares of $1.00 par value each and 125 million preferred shares of $1.00 par value each authorized. The following is a summary of Arcadium's ordinary shares issued and outstanding:
IssuedTreasuryOutstanding
Balance as of December 31, 2023 (1)
433,059,946 (263,669)432,796,277 
Issued to Allkem shareholders - Allkem Livent Merger641,337,840 — 641,337,840 
PRSU and RSU awards accelerated - Allkem Livent Merger648,969 — 648,969 
Arcadium RSU awards155,706 — 155,706 
Arcadium share option awards8,497 — 8,497 
Net sales of treasury shares - Arcadium NQSP— 766 766 
Balance as of June 30, 20241,075,210,958 (262,903)1,074,948,055 
_____________________
1.Balances outstanding as of December 31, 2023, representing predecessor Livent, have been adjusted to reflect the 2.406 Exchange Ratio.
Accumulated other comprehensive loss

Summarized below is the roll forward of accumulated other comprehensive loss, net of tax.
(in Millions)Foreign currency adjustmentsDerivative Instruments Total
Accumulated other comprehensive loss, net of tax as of December 31, 2023
$(49.8)$— $(49.8)
Other comprehensive (losses)/income before reclassifications(30.5)0.3 (30.2)
Accumulated other comprehensive loss, net of tax as of June 30, 2024
$(80.3)$0.3 $(80.0)
(in Millions)Foreign currency adjustmentsDerivative Instruments Total
Accumulated other comprehensive loss, net of tax as of December 31, 2022
$(51.0)$— $(51.0)
Other comprehensive income before reclassifications0.5 0.6 1.1 
Accumulated other comprehensive loss, net of tax as of June 30, 2023
$(50.5)$0.6 $(49.9)

Dividends
For the three and six months ended June 30, 2024 and 2023, we paid no dividends. We do not expect to pay any dividends in the foreseeable future.
v3.24.2.u1
Earnings Per Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Earnings per ordinary share ("EPS") is computed by dividing net income by the weighted average number of common shares outstanding during the period on a basic and diluted basis.
Our potentially dilutive securities include potential ordinary shares related to our share options, restricted share units and 2025 Notes. See Note 12 to our consolidated financial statements in Part II, Item 8 of our 2023 Annual Report on Form 10-K for more information. Diluted earnings per share ("Diluted EPS") considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential ordinary shares would have an anti-dilutive effect. Diluted EPS excludes the impact of potential ordinary shares related to our share options in periods in which the option exercise price is greater than the average market price of our ordinary shares for the period. We use the if-converted method when calculating the potential dilutive effect, if any, of our 2025 Notes.
Earnings applicable to ordinary shares and ordinary shares used in the calculation of basic and diluted earnings per share are as follows:
(in Millions, Except Share and Per Share Data)Three Months Ended June 30,Six Months Ended June 30,
2024
2023 (1)
2024
2023 (1)
Numerator:
Net income attributable to Arcadium Lithium plc$85.7 $90.2 $101.3 $205.0 
Denominator:
Weighted average ordinary shares outstanding - basic
1,074.9 432.3 1,064.2 432.2 
Dilutive share equivalents from share-based plans 0.9 3.9 1.0 3.8 
Dilutive share equivalents from 2025 Notes67.7 67.7 67.7 67.7 
Weighted average ordinary shares outstanding - diluted 1,143.5 503.9 1,132.9 503.7 
Basic earnings per ordinary share$0.08 $0.21 $0.10 $0.47 
Diluted earnings per ordinary share$0.07 $0.18 $0.09 $0.41 
_____________________
1.For the three and six months ended June 30, 2023, weighted average ordinary shares outstanding - basic and diluted, dilutive share equivalents and basic and diluted earnings per ordinary share amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio.
Anti-dilutive share options
For the three and six months ended June 30, 2024, options to purchase 7,529,226 shares of our ordinary shares, at an average exercise price of $6.36 per share, were anti-dilutive and not included in the computation of diluted earnings per share because the exercise price of the options was greater than the average market price of the ordinary shares for the three and six months ended June 30, 2024. For the three and six months ended June 30, 2023, options to purchase 2,611 shares of our ordinary shares, at an average exercise price of $9.70 per share were anti-dilutive and not included in the computation of diluted earnings per share because the exercise price of the options was greater than the average market price of the ordinary shares for the three and six months ended June 30, 2023.
v3.24.2.u1
Financial Instruments, Risk Management and Fair Value Measurements
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Financial Instruments, Risk Management and Fair Value Measurements Financial Instruments, Risk Management and Fair Value Measurements     
Our financial instruments include cash and cash equivalents, trade receivables, other current assets, investments held in trust fund, trade payables, derivatives and amounts included in accruals meeting the definition of financial instruments. Investments in the Arcadium NQSP deferred compensation plan trust fund are considered Level 1 investments based on readily available quoted prices in active markets for identical assets. The carrying value of cash and cash equivalents, trade receivables, other current assets, and trade payables approximates their fair value due to their short-term nature and are considered Level 1 investments. Our other financial instruments include the following:
Financial InstrumentValuation Method
Foreign exchange forward contractsEstimated amounts that would be received or paid to terminate the contracts at the reporting date based on current market prices for applicable currencies.

The estimated fair value of our foreign exchange forward contracts has been determined using standard pricing models which take into account the present value of expected future cash flows discounted to the balance sheet date. These standard pricing models utilize inputs derived from, or corroborated by, observable market data such as currency and commodity spot and forward rates.
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The inputs used to measure fair value are classified into the following hierarchy:

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities.
Level 2 - Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability.
Level 3 - Unobservable inputs for the asset or liability.
The estimated fair value and the carrying amount of debt were $747.6 million and $634.0 million, respectively, as of June 30, 2024. Our 2025 Notes are classified as Level 2 in the fair value hierarchy.
Use of Derivative Financial Instruments to Manage Risk
We mitigate certain financial exposures connected to currency risk through a program of risk management that includes the use of derivative financial instruments. We enter into foreign exchange forward contracts to reduce the effects of fluctuating foreign currency exchange rates.
We formally document all relationships between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. This process includes relating derivatives that are designated as fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. We also assess both at the inception of the hedge and on an ongoing basis, whether each derivative is highly effective in offsetting changes in fair values or cash flows of the hedged item. If we determine that a derivative is not highly effective as a hedge, or if a derivative ceases to be a highly effective hedge, we discontinue hedge accounting with respect to that derivative prospectively.
Foreign Currency Exchange Risk Management
We conduct business in many foreign countries, exposing earnings, cash flows, and our financial position to foreign currency risks. The majority of these risks arise as a result of foreign currency transactions. The primary currencies for which we have exchange rate exposure are the Euro, the British pound, the Chinese yuan, the Argentine peso, the Australian dollar, the Canadian dollar and the Japanese yen. We currently do not hedge foreign currency risks associated with the Argentine peso due to the limited availability and the high cost of suitable derivative instruments. Our policy is to minimize exposure to adverse changes in currency exchange rates. This is accomplished through a controlled program of risk management that could include the use of foreign currency debt and forward foreign exchange contracts. We also use forward foreign exchange contracts to hedge firm and highly anticipated foreign currency cash flows, with an objective of balancing currency risk to provide adequate protection from significant fluctuations in the currency markets.
Concentration of Credit Risk
Our counterparties to derivative contracts are primarily major financial institutions. We limit the dollar amount of contracts entered into with any one financial institution and monitor counterparties’ credit ratings. We also enter into master netting agreements with each financial institution, where possible, which helps mitigate the credit risk associated with our financial instruments. While we may be exposed to credit losses due to the nonperformance of counterparties, we consider this risk remote.
Accounting for Derivative Instruments and Hedging Activities
Cash Flow Hedges
We recognize all derivatives on the balance sheet at fair value. On the date we enter into the derivative instrument, we generally designate the derivative as a hedge of the variability of cash flows to be received or paid related to a forecasted transaction (cash flow hedge). We record in accumulated other comprehensive loss ("AOCL") changes in the fair value of derivatives that are designated as and meet all the required criteria for, a cash flow hedge. We then reclassify these amounts into earnings as the underlying hedged item affects earnings. In contrast, we immediately record in earnings changes in the fair value of derivatives that are not designated as cash flow hedges. As of June 30, 2024, we had open foreign currency forward contracts in AOCL in a net after-tax gain position of $0.4 million designated as cash flow hedges of underlying forecasted sales and purchases. As of June 30, 2024, we had open forward contracts with various expiration dates to buy, sell or exchange foreign currencies with a U.S. dollar equivalent of approximately $22.4 million.
A net after-tax gain of $0.4 million, representing open foreign currency exchange contracts, will be realized in earnings during the year ending December 31, 2024 if spot rates in the future are consistent with market rates as of June 30, 2024. The actual effect on earnings will be dependent on the actual spot rates when the forecasted transactions occur. We recognize derivative gains and losses in the Cost of sales line in the condensed consolidated statements of operations.

Derivatives Not Designated As Cash Flow Hedging Instruments
We hold certain forward contracts that have not been designated as cash flow hedging instruments for accounting purposes. Contracts used to hedge the exposure to foreign currency fluctuations associated with certain monetary assets and liabilities are not designated as cash flow hedging instruments and changes in the fair value of these items are recorded in earnings.
We had open forward contracts not designated as cash flow hedging instruments for accounting purposes with various expiration dates to buy, sell or exchange foreign currencies with a U.S. dollar equivalent of approximately $101.6 million as of June 30, 2024.
Fair Value of Derivative Instruments
The following table provides the gross fair value and net balance sheet presentation of our derivative instruments. The Company had no open derivative cash flow hedge contracts as of December 31, 2023.
June 30, 2024
Gross Amount of Derivatives
(in Millions)Designated as Cash Flow Hedges
Derivative assets
Foreign exchange contracts$0.4 
Total derivative assets (1)
0.4 
Net derivative assets$0.4 
__________________
1.Net balance is included in Prepaid and other current assets in the condensed consolidated balance sheets.

The following tables summarize the gains or losses related to our cash flow hedges and derivatives not designated as cash flow hedging instruments.
Derivatives in Cash Flow Hedging Relationships
(in Millions)Total Foreign Exchange Contracts
Accumulated other comprehensive income, net of tax as of December 31, 2023$— 
Unrealized hedging gains, net of tax 0.2 
Total derivatives instruments impact on comprehensive income, net of tax0.2 
Accumulated other comprehensive income, net of tax as of March 31, 2024$0.2 
Unrealized hedging gains, net of tax 0.1 
Total derivatives instruments impact on comprehensive income, net of tax0.1 
Accumulated other comprehensive income, net of tax at June 30, 2024$0.3 
(in Millions)Total Foreign Exchange Contracts
Accumulated other comprehensive income, net of tax as of December 31, 2022$— 
Unrealized hedging gains, net of tax 0.2 
Total derivatives instruments impact on comprehensive income, net of tax0.2 
Accumulated other comprehensive income, net of tax as of March 31, 2023$0.2 
Unrealized hedging gains, net of tax 0.4 
Total derivatives instruments impact on comprehensive income, net of tax0.4 
Accumulated other comprehensive income, net of tax at June 30, 2023$0.6 
Derivatives Not Designated as Cash Flow Hedging Instruments
Location of Gain or (Loss)
Recognized in Income on Derivatives
Amount of Pre-tax Gain or (Loss) 
Recognized in Income on Derivatives (1)
Three Months Ended June 30,Six Months Ended June 30,
(in Millions) 2024202320242023
Foreign Exchange contractsOther gain/(loss)$2.5 $(0.2)$13.1 $1.9 
Total$2.5 $(0.2)$13.1 $1.9 
____________________
1.Amounts represent the gain or loss on the derivative instrument offset by the gain or loss on the hedged item.

Fair Value Measurements
Recurring Fair Value Measurements
The following tables present our fair-value hierarchy for those assets and liabilities measured at fair-value on a recurring basis in our condensed consolidated balance sheets.
(in Millions)June 30, 2024Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Assets
Investments in deferred compensation plan (1)
$6.3 $6.3 $— $— 
JEMSE Receivable5.0 — — 5.0 
Equity securities (2)
1.8 1.8 — — 
Derivatives – Foreign exchange 0.4 — 0.4 — 
Total Assets$13.5 $8.1 $0.4 $5.0 
Liabilities
Deferred compensation plan obligation (3)
$7.2 $7.2 $— $— 
Total Liabilities$7.2 $7.2 $— $— 
 
(in Millions)December 31, 2023Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Assets
Investments in deferred compensation plan (1)
$4.1 $4.1 $— — 
Total Assets$4.1 $4.1 $— $— 
Liabilities
Deferred compensation plan obligation (3)
$6.7 $6.7 $— $— 
Total Liabilities (4)
$6.7 $6.7 $— $— 
____________________
1.Balance is included in Investments in the condensed consolidated balance sheets. Arcadium NQSP investments in Arcadium ordinary shares are recorded as Treasury shares in the condensed consolidated balance sheets and carried at historical cost. Mark-to-market gains of $0.3 million and $1.1 million were recorded for the three and six months ended June 30, 2024, respectively. Mark-to-market losses of $0.6 million and $0.8 million were recorded for the three and six months ended June 30, 2023, related to the Arcadium ordinary shares. The mark-to-market gains and losses were recorded in Selling, general and administrative expenses in the condensed consolidated statements of operations, with a corresponding offset to the deferred compensation plan obligation in the condensed consolidated balance sheets.
2.Mark-to-market gains and losses are recorded to Other gain/loss in the condensed consolidated statement of operations.
3.Balance is included in Other long-term liabilities in the condensed consolidated balance sheets.
4.The Company had no open cash flow hedge contracts as of December 31, 2023.
v3.24.2.u1
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Contingencies
We are a party to various legal proceedings, certain of these matters are discussed below. Arcadium records liabilities for estimated losses from contingencies when information available indicates that a loss is probable and the amount of the loss, or range of loss, can be reasonably estimated. As additional information becomes available, management adjusts its assessments and estimates. Legal costs are expensed as incurred.
In addition to the legal proceedings noted below, we have certain contingent liabilities arising in the ordinary course of business. Some of these contingencies are known but are so preliminary that the merits cannot be determined, or if more advanced, are not deemed material based on current knowledge; and some are unknown - for example, claims with respect to which we have no notice or claims which may arise in the future from products sold, guarantees or warranties made, or indemnities provided. Therefore, we are unable to develop a reasonable estimate of our potential exposure of loss for these contingencies, either individually or in the aggregate, at this time. There can be no assurance that the outcome of these contingencies will be favorable, and adverse results in certain of these contingencies could have a material adverse effect on the consolidated financial position, results of operations in any one reporting period, or liquidity.
Argentine Customs & Tax Authority Matters
Minera del Altiplano SA, our subsidiary in Argentina ("MdA"), has received notices from the Argentine Customs Authorities that they are conducting customs audits in Salta (for 2015 to 2019, 2021 and 2022), Rosario (for 2016 and 2017), Buenos Aires and Ezeiza (for 2018, 2019, 2021 and 2022) regarding the export of lithium carbonate by MdA from each of those locations. See Note 21 for more information about the payment the Company made in June 2023 for export duties and interest claimed by the Customs Authorities of Buenos Aires, Ezeiza and Salta related to exports made between the years 2018 – 2022.
Sales de Jujuy S.A., our subsidiary in Argentina ("SDJ SA") has received a notice from the Argentine Customs Authority regarding custom duties for the export of lithium carbonate by SDJ SA from January 2022 through August 2023.
SDJ SA also received notification from Jujuy provincial tax authority regarding a royalty adjustment in favor of the Province for the periods 2021 and 2022.
A range of reasonably possible liabilities, if any, cannot be currently estimated by the Company.
MdA was also notified from the Argentine Tax Authority of the start of transfer pricing audits for the periods 2017 and 2018. SDJ SA was also notified by the Argentine Tax Authority of the start of a transfer pricing audit for the period of 2018.
In January, 2023, the Argentina Ministry of Economy issued a resolution to cancel an export rebate regime relating to lithium products, which was followed by Presidential Decree No. 57/2023 in February, 2023. The Presidential Decree prospectively cancels all export rebates for lithium products. Prior to the Presidential Decree, MdA had the right to collect 4% of the FOB value for exported products (which consisted of the "La Puna" rebate which was 2.5% and the "Export" rebate which was 1.5%). In October 2023 by Presidential Decree No. 557/2023 the Export rebate of 1.5% was reinstated. Subsequent to the Presidential Decree entering into force on October 26, 2023 MdA is entitled to the 1.5% rebate/refund on FOB value of its exported products. As of June 30, 2024, MdA has a receivable of approximately $4.5 million USD which is still valid and remains in force after the Presidential Decrees.
A range of possible liabilities, if any, cannot be currently estimated by the Company.
Australia Tax Matters
We were informed on April 16, 2024 that the Australian Taxation Office will be performing a combined assurance review of Allkem Limited and its Australian subsidiaries for the period of July 1, 2019 to June 30, 2023.
Canada Tax Matters
We were notified that Nemaska Lithium has received certain audit queries from the Canada Revenue Agency ("CRA") related to the Approval and Vesting Order (the "RVO") issued under the Companies' Creditors Arrangement Act ("CCAA") on October 15, 2020, by the Superior Court of Québec. Nemaska Lithium has been responding to those queries.
Leases
All of our leases are operating leases as of June 30, 2024 and December 31, 2023. We have operating leases for corporate offices, manufacturing facilities, and land. Our leases have remaining lease terms of two to twenty-seven years.
The Company assumed an ROU asset and corresponding lease liability of $53.4 million in the Allkem Livent Merger, all of which are accounted for as operating leases.
Quantitative disclosures about our leases are summarized in the table below.
Three Months Ended June 30,Six Months Ended June 30,
(in Millions, except for weighted-average amounts)2024202320242023
Lease Cost
Operating lease cost $4.2 $0.3 $8.5 $0.6 
Short-term lease cost
0.1 0.1 0.2 0.2 
Total lease cost (1)
$4.3 $0.4 $8.7 $0.8 
Other information
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases$3.8 $0.4 $8.2 $0.7 
__________________________
1.Lease expense is classified as Selling, general and administrative expenses in our condensed consolidated statements of operations.

As of June 30, 2024, our operating leases had a weighted average remaining lease term of 8.2 years and a weighted average discount rate of 8.6%.
The table below presents a maturity analysis of our operating lease liabilities for each of the next five years and a total of the amounts for the remaining years.

(in Millions)Undiscounted cash flows
Remainder of 2024$7.3 
20259.9 
20269.1 
20278.3 
20288.1 
Thereafter31.1 
Total future minimum lease payments73.8 
Less: Imputed interest(19.8)
Total$54.0 
v3.24.2.u1
Supplemental Information
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Information Supplemental Information
The following tables present details of prepaid and other current assets, other assets, accrued and other current liabilities, and other long-term liabilities as presented on the condensed consolidated balance sheets:
(in Millions)June 30, 2024December 31, 2023
Prepaid and other current assets
Tax related items$113.6 $29.5 
Prepaid expenses66.3 16.9 
Argentina government receivable (1)
15.1 7.9 
Other receivables63.6 28.2 
Bank Acceptance Drafts (2)
1.2 — 
Derivative assets (Note 17)0.4 — 
Other current assets3.8 3.9 
Total$264.0 $86.4 

(in Millions)June 30, 2024December 31, 2023
Other assets
Argentina government receivable (1), (3)
$128.8 $71.3 
Advance to contract manufacturers (4)
26.1 27.6 
Long-term semi-finished goods inventory137.4 1.0 
Tax related items4.0 4.0 
Capitalized software, net1.5 1.1 
Other assets44.5 22.7 
Total$342.3 $127.7 
_________________
1.We have various subsidiaries that conduct business in Argentina. As of June 30, 2024 and December 31, 2023, $39.3 million and $38.8 million, respectively, of outstanding receivables due from the Argentina government, which primarily represent export tax and export rebate receivables, was denominated in U.S. dollars. A recent judicial decision relating to the U.S. dollar-denominated export tax receivable portion ($34.8 million) permits the Argentina government to reimburse us in Argentine pesos at the historical foreign exchange rate applicable at each past payment date, adjusted by a bank deposit interest rate. While Arcadium filed an appeal on November 6, 2023 and believes it has valid defenses on the technical merits, the ultimate resolution of this matter could result in a possible loss of up to $34.3 million. We continually review the recoverability of all outstanding receivables by analyzing historical experience, current collection trends and regional business and political factors among other factors.
2.Bank Acceptance Drafts are a common Chinese finance note used to settle trade transactions. The Company accepts these notes from Chinese customers based on criteria intended to ensure collectability and limit working capital usage.
3.In June 2023, the Company decided to pay $21.7 million for the export duties and interest claimed by the Customs Authorities of Buenos Aires, Ezeiza and Salta related to exports made between the years 2018 – 2022 registered in those locations. This payment stops the accrual of any further interest. It was a deposit made under protest and was not an admission of any of the claims made by the Customs Authorities or a waiver of any of the Company's defenses, including recovery of the deposit plus interest. The cases remain in discussion. See Note 20 for more information.
4.We record deferred charges for certain contract manufacturing agreements which we amortize over the term of the underlying contract.
(in Millions)June 30, 2024December 31, 2023
Accrued and other current liabilities
Accrued payroll$56.3 $31.2 
Retirement liability - 401k4.6 3.2 
Environmental reserves, current3.0 0.5 
Severance1.6 1.7 
Accrued investment in unconsolidated affiliates— 27.0 
Other accrued and other current liabilities (1)
94.3 73.2 
Total$159.8 $136.8 


(in Millions)June 30, 2024December 31, 2023
Other long-term liabilities
Deferred compensation plan obligation$7.2 $6.7 
Contingencies related to uncertain tax positions (2)
16.2 6.2 
Self-insurance reserves1.1 1.1 
Asset retirement obligations11.3 3.7 
Other long-term liabilities53.6 3.6 
Total$89.4 $21.3 
____________________
1.Amounts primarily include accrued capital expenditures related to our expansion projects.
2.As of June 30, 2024, we have recorded a liability for uncertain tax positions of $15.8 million and a $0.4 million indemnification liability where the offsetting uncertain tax position is with FMC, per the tax matters agreement.
v3.24.2.u1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Pay vs Performance Disclosure        
Net income attributable to Arcadium Lithium plc $ 85.7 $ 90.2 [1] $ 101.3 $ 205.0 [1]
[1] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
v3.24.2.u1
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.2.u1
Significant Accounting Policies and Related Financial Information (Policies)
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Principal Accounting Policies and Related Financial Information The accompanying condensed consolidated financial statements were prepared in accordance with the requirements of the Securities and Exchange Commission ("SEC") for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by U.S. GAAP have been condensed or omitted from these interim financial statements.
Reclassifications
Reclassifications
Certain prior period balances have been reclassified to conform to the current period presentation in the condensed consolidated financial statements and the accompanying notes.
Effective April 1, 2024, we began presenting gains and losses from foreign currency remeasurements as a component of Other gains/losses. Prior to April 1, 2024, we included gains and losses resulting from foreign currency remeasurements as a component of Cost of sales and Restructuring and other charges in the condensed consolidated statement of operations.
Segment information
Segment Information
In January 2024, Arcadium Lithium completed the Allkem Livent Merger. See Note 4, Allkem Livent Merger for further details. Following the closing of the Allkem Livent Merger, we currently operate as one reportable segment based on the commonalities among our products and services. As integration evolves, we will continue to assess this determination.
Revenue Recognition
Revenue Recognition
Revenue from product sales is recognized when we satisfy a performance obligation by transferring the promised goods to a customer, that is, when control of the good transfers to the customer. Payment terms generally range from 20 to 180 days.
In determining when the control of goods is transferred, we typically assess, among other things, the transfer of title and risk of loss and the shipping terms of the contract.
We record amounts billed for shipping and handling fees as revenue. Costs incurred for shipping and handling are recorded in cost of sales. When we perform shipping and handling activities after the transfer of control to the customer (e.g., when control transfers prior to delivery), they are considered fulfillment activities, and accordingly, the costs are accrued to cost of sales when the related revenue is recognized.
Amounts billed for sales and use taxes, VAT, and certain excise and other specific transactional taxes imposed on revenue-producing transactions are presented on a net basis and excluded from revenue in the condensed consolidated statements of operations. We record a liability until remitted to the respective taxing authority.
We satisfy our obligations by transferring goods and services in exchange for consideration from customers. The timing of performance sometimes differs from the timing the associated consideration is received from the customer, thus resulting in the recognition of a contract asset or liability. These may arise from provisional pricing within certain of our customer contracts, or if the customer’s payment of consideration is received prior to completion of our related performance obligation. Provisional pricing results in variable consideration which we estimate by using an expected value method taking into account all information that is reasonably available including publicly available pricing forecasts. We only include variable consideration within the transaction price to the extent that it is probable that a significant reversal in the amount of revenue recognized will not occur.
Performance obligations
Occasionally, we may enter into multi-year take or pay supply agreements with customers. The aggregate amount of revenue expected to be recognized related to these contracts’ performance obligations is approximately $1.7 billion in the next five years. Based on our past experience with the customers under these arrangements, we expect to continue recognizing revenue in accordance with the contracts as we transfer control of the product to the customer. However, in the case a shortfall of volume purchases occurs, we will recognize the amount payable by the customer over the remaining performance obligations in the contract.
Equity method investments
Equity method investments
We stop applying the equity method when we have reduced the value of our equity method investment, commitments and additional investments (i.e., loans or advances) in the investee to zero. If the investee subsequently reports net income, we resume applying the equity method when our share of that net income is equal to the suspended losses (i.e., our share of the investee's net losses not previously recognized).
If facts and circumstances indicate that a decrease in value of the investment has occurred that is other than temporary, we recognize an impairment loss equal to an amount by which the carrying amount exceeds the fair value of the equity method investment.
Goodwill
Goodwill
The Company accounts for goodwill and other intangibles acquired in a business combination in conformity with current accounting guidance that requires that goodwill and indefinite-lived intangible assets not be amortized.
Under the guidance, goodwill is tested for impairment by comparing the estimated fair value of reporting units to the related carrying value. Reporting units are either operating business segments or one level below operating business segments for which discrete financial information is available and for which operating results are regularly reviewed by the business management. In applying the goodwill impairment test, a qualitative test ("Step 0") is initially performed, under which qualitative factors are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Qualitative factors may include, but are not limited to, economic conditions, industry and market considerations, cost factors, overall financial performance of the reporting units and other entity and reporting unit specific events. If after assessing these qualitative factors, it is determined that it is "more-likely-than-not" that the fair value of the reporting unit is less than the carrying value, a quantitative test ("Step 1") is performed. During Step 1, the fair value is estimated using a discounted cash flow model.
Impairment evaluations of goodwill could result in a reduction in our recorded asset values which could have a material adverse effect on our financial position and results of operations. We perform reviews of goodwill on an annual basis, or more frequently if triggering events indicate a possible impairment. We test goodwill at the reporting unit level by comparing the carrying value of the net assets of the reporting unit, including goodwill, to the reporting unit's fair value. If the carrying values of goodwill exceed their fair value, the goodwill would be considered impaired. If any impairment or related charge is warranted, our financial position and results of operations could be materially affected. Any such impairment or related charge could be a result of, for example, sustained declines in the Company’s stock price; the deterioration of the cost of equity or debt capital increases due to valuations for comparable companies or comparable acquisitions valuations; or the deterioration of the outlook for future cash flows for the reporting unit due to but not limited to, increased competition, changes to discount rate, downward forecast revisions, restricted plans or changes in applicable regulations affecting our business.
Mine Development Costs and Mineral Interests
Mine Development Costs
Mine development costs include: a) exploration and evaluation ("E&E") expenditures incurred during the search for mineral resources as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource; and b) stripping costs of removing overburden and waste materials to access the mineral body at an open pit mine.
The Company capitalizes E&E expenditures to PP&E under a successful efforts basis when proven and probable reserves are established for the sites where E&E activities are being performed. E&E assets recognized as part of business combinations are also capitalized. All other E&E expenditures are expensed.
Stripping costs incurred prior to the production phase are capitalized to PP&E during the development of an open pit mine. When multiple open pits exist at a mining complex utilizing common processing facilities, such pre-production stripping costs are capitalized at each pit. The removal, production, and sale of de minimis saleable materials may occur during the development phase of an open pit mine and are assigned incremental mining costs related to the removal of that material. The production phase of an open pit mine commences when saleable minerals, beyond a de minimis amount, are produced. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Cost of sales in the same period as the revenue from sale of that inventory.
Capitalized mine development costs are amortized using the units-of-production method based on estimated recoverable minerals in proven and probable reserves, and are amortized over the estimated life of the mineral body.
Mineral Interests
Mineral interests include acquired interests in production, development and exploration stage properties. Mineral interests are capitalized at their fair value at the acquisition date, either as an individual asset purchase or as part of a business combination. Mineral interests in the development and exploration stage are not amortized until the underlying property is converted to the production stage, at which point the mineral interests are amortized over the estimated recoverable proven and probable reserves using a units-of-production method.
Asset Retirement Obligations
Asset Retirement Obligations
The Company accounts for asset retirement obligations ("AROs") in accordance with ASC 410-20, Asset Retirement Obligations "ASC 410-20". We record AROs at present value at the time the liability is incurred if we can reasonably estimate the settlement date. The associated AROs are capitalized as part of the carrying amount of related long-lived assets. In future periods, the liability is accreted to its present value and the capitalized cost is depreciated over the useful life of the related asset. We also adjust the liability for changes resulting from the passage of time and/or revisions to the timing or the amount of the original estimate. Upon retirement of the long-lived asset, we settle the obligation for its recorded amount.
Recently Issued and Adopted Accounting Pronouncements and Regulatory Items
In December 2023, the Financial Accounting Standard Board ("FASB") issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU enhances existing income tax disclosures to better assess how an entity's operation and related tax risks, tax planning, and operational opportunities affect its tax rate and prospects for future cash flows. The ASU is effective for annual periods beginning after December 15, 2024. We are currently evaluating the effect the guidance will have on our condensed consolidated financial statements.
In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU improves reportable segment disclosure requirements, primarily through enhanced disclosures related to significant segment expenses. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024. We are currently evaluating the effect the guidance will have on our condensed consolidated financial statements.
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Significant Accounting Policies and Related Financial Information (Tables)
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Impact of Reclassifications The following tables summarize the accounts that were recast for the three and six months ended June 30, 2023 and the three months ended March 31, 2024 to conform to the current period presentation.
Three Months Ended June 30,Six Months Ended June 30
20232023
(in Millions)Prior PresentationLoss/(gain) Reclassified Recast PresentationPrior PresentationLoss/(gain) ReclassifiedRecast Presentation
Cost of sales$92.4 $3.9 $88.5 $179.9 $5.1 $174.8 
Restructuring and other charges24.2 (0.1)24.3 26.1 (0.2)26.3 
Other (gains)/losses(11.4)3.8 (7.6)(11.4)4.9 (6.5)
Three Months Ended March 31,
2024
(in Millions)Prior Presentation(Gain)/loss ReclassifiedRecast Presentation
Cost of sales$116.8 $(38.0)$154.8 
Restructuring and other charges$83.6 $3.8 $79.8 
Other (gains)/losses$(43.1)$(34.2)$(77.3)
v3.24.2.u1
Allkem Livent Merger (Tables)
 6 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Consideration Transferred The Acquisition Date fair value of consideration transferred consisted of the following:
(in millions)Amount
Consideration:
Fair value of Arcadium ordinary shares issued to Allkem shareholders$4,385.6 
Fair value of converted Allkem performance rights attributable to pre-combination service4.8 
Total consideration$4,390.4 
Schedule of Purchase Price Allocation
The following table summarizes the preliminary purchase price allocation for the Allkem Livent Merger as of January 4, 2024, which is subject to change:


(in Millions, except per share amounts)Amount
Total consideration$4,390.4 
Assets acquired:
Cash and cash equivalents$681.4 
Trade receivables64.2 
Inventories121.3 
Prepaid and other current assets87.2 
Property, plant and equipment4,326.1 
Right of use assets - operating leases, net53.4 
Deferred income tax assets26.3 
Other assets (1)
192.9 
Total assets acquired$5,552.8 
Liabilities assumed:
Accounts payable, trade and other$223.7 
Accrued and other current liabilities35.1 
Income taxes78.5 
Long-term debt including current portion301.7 
Operating lease liabilities - long-term53.4 
Environmental liabilities9.8 
Deferred income tax liabilities1,315.3 
Other long-term liabilities49.5 
Total liabilities assumed$2,067.0 
Fair value of net assets acquired$3,485.8 
Add: Fair value of noncontrolling interests acquired 275.0 
Fair value of net assets acquired less noncontrolling interests acquired$3,210.8 
Goodwill$1,179.6 
___________________
1.Includes long-term semi-finished goods inventory.
Schedule of Pro Forma Information
The following table represents Allkem's revenues and net earnings included in Arcadium's condensed consolidated statements of operations from the Acquisition Date through June 30, 2024.
(in Millions)Three Months Ended June 30,Six Months Ended June 30,
2024
Revenue$83.8 $186.3 
Income from operations before income taxes$75.8 $152.2 
The unaudited pro forma financial results are as follows:
(in Millions)Three Months Ended June 30,Six Months Ended June 30,
2023
(Unaudited)
Revenue$569.8 $1,139.2 
Net income278.4 $513.4 
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Goodwill (Tables)
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The following table summarizes the changes in goodwill for the six months ended June 30, 2024.

(in Millions)AllkemNemaska LithiumTotal
Balance as of December 31, 2023
$— $120.7 $120.7 
Acquisitions - Allkem Livent Merger1,189.2 — 1,189.2 
Measurement period adjustments(9.6)— (9.6)
Balance as of June 30, 2024
$1,179.6 $120.7 $1,300.3 

See Note 4 for further details.
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Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue The following table provides information about disaggregated revenue by major geographical region:
(in Millions)Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Asia Pacific (1)
$211.8 $171.6 $431.9 $338.6 
North America (1)
22.8 40.7 43.5 92.6 
Europe, Middle East & Africa19.5 23.5 39.1 56.3 
Latin America0.4 — 1.2 1.8 
Consolidated Revenue$254.5 $235.8 $515.7 $489.3 
1.During the three months ended June 30, 2024, countries with sales in excess of 10% of consolidated revenue consisted of China and Japan. Sales for the three months ended June 30, 2024 for China and Japan totaled $155.1 million and $31.8 million, respectively. During the six months ended June 30, 2024, countries with sales in excess of 10% of consolidated revenue consisted of China, Japan, and South Korea. Sales for the six months ended June 30, 2024 for China, Japan, and South Korea totaled $281.0 million, $77.8 million, and $64.9 million, respectively. During the three months ended June 30, 2023, countries with sales in excess of 10% of consolidated revenue consisted of China, Japan, the U.S., and South Korea. Sales for the three months ended June 30, 2023 for China, Japan, the U.S., and South Korea totaled $90.8 million, $42.7 million, $39.9 million, and $31.2 million, respectively. During the six months ended June 30, 2023, countries with sales in excess of 10% of consolidated revenue consisted of China, the U.S., Japan, and South Korea. Sales for the six months ended June 30, 2023 for China, the U.S., Japan, and South Korea, totaled $179.2 million, $90.1 million, $76.1 million, and $66.3 million, respectively.
The following table provides information about disaggregated revenue by major product category:
(in Millions)Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Lithium Hydroxide$113.1 $153.6 $223.7 $306.3 
Lithium Carbonate (1)
72.7 5.1 152.5 14.5 
Butyllithium and Other Lithium Specialties44.9 77.1 90.9 168.5 
Spodumene Concentrate (2)
23.8 — 48.6 — 
Consolidated Revenue$254.5 $235.8 $515.7 $489.3 
______________________
1.Includes lithium carbonate by-product revenue.
2.Includes low-grade spodumene sales and minimal other products.
Schedule of Receivables and Contract Liabilities
The following table presents the opening and closing balances of our contract liabilities and current trade receivables, net of allowances from contracts with customers.
(in Millions)Balance as of June 30, 2024Balance as of December 31, 2023(Decrease)/increase
Receivables from contracts with customers, net of allowances$94.1 $106.7 $(12.6)
Contract liability - short-term37.1 4.4 32.7 
Contract liability - long-term 253.8 217.8 36.0 
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Inventories, Net (Tables)
 6 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories consisted of the following:
 (in Millions)June 30, 2024December 31, 2023
Finished goods$130.3 $59.1 
Semi-finished goods 101.4 108.8 
Raw materials, supplies, and other101.4 49.6 
Inventory, net$333.1 $217.5 
v3.24.2.u1
Investments (Tables)
 6 Months Ended
Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investments in and Advances to Affiliates, Schedule of Investments
Investments consisted of the following:
 (in Millions)June 30, 2024December 31, 2023
ESM ILiAD, LLC$30.1 $30.1 
Arcadium NQSP6.3 4.7 
Other1.8 — 
Investments$38.2 $34.8 
v3.24.2.u1
Property, Plant and Equipment, Net (Tables)
 6 Months Ended
Jun. 30, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
Property, plant and equipment consisted of the following:
(in Millions)June 30, 2024December 31, 2023
Land and land improvements$319.8 $106.2 
Buildings896.7 134.9 
Machinery and equipment735.0 420.7 
Mineral rights3,280.0 560.0 
Construction in progress2,111.2 1,284.4 
Total cost$7,342.7 $2,506.2 
Accumulated depreciation(307.8)(269.1)
Property, plant and equipment, net$7,034.9 $2,237.1 
The major classifications of property, equipment and software, including their respective principal depreciation and amortization method and expected useful lives, consisted of the following:
Asset type Depreciation and amortization methodUseful Life
Land N/A—
Land improvements Straight-line20 years
Buildings Straight-line
20-40 years
Mineral rightsUnits-of-productionBased on rate of depletion of reserves
Mining extraction equipmentUnits-of-productionBased on rate of depletion of reserves
Leased plant and equipmentStraight-line
Lease period (1-10.5 years)
Other machinery and equipment Straight-line
3-18 years
SoftwareStraight-line
3-10 years
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Restructuring and Other Charges (Tables)
 6 Months Ended
Jun. 30, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Charges and Asset Disposals
The following table shows other charges included in Restructuring and other charges in the condensed consolidated statements of operations:
Three Months Ended June 30,Six Months Ended June 30,
(in Millions)2024202320242023
Restructuring charges:
Severance-related and exit costs $3.2 $0.7 $14.1 $2.4 
Other charges:
Costs related to the Allkem Livent Merger19.8 18.8 86.8 18.8 
Bessemer City plant fire loss— 5.0 — 5.0 
Other(1.1)(0.2)0.8 0.1 
Total Restructuring and other charges$21.9 $24.3 $101.7 $26.3 
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Other gains (Tables)
 6 Months Ended
Jun. 30, 2024
Other Income and Expenses [Abstract]  
Schedule of Other gains
The following table shows amounts included in Other gains in the condensed consolidated statements of operations:
Three Months Ended June 30,Six Months Ended June 30,
(in Millions)2024202320242023
Blue Chip Swap gains: (1)
Non-recurring - SDV SA and MdA Holdings LLC (2)
$16.8 $11.4 $36.5 $11.4 
Recurring - SDJ and MdA4.1 — 14.0 — 
Total Blue Chip Swap gains20.9 11.4 50.5 11.4 
Foreign currency remeasurement gains/(losses):
Remeasurement gains on U.S. dollar denominated cash held by foreign currency functional subsidiary0.4 — 14.3 — 
All other foreign currency remeasurement gains/(losses) (3)
58.6 (3.8)92.8 (4.9)
Total Foreign currency remeasurement gains/(losses)59.0 (3.8)107.1 (4.9)
Loss on trading securities— — (0.4)— 
Total Other gains$79.9 $7.6 $157.2 $6.5 
___________________________
1.See Note 2 for details.
2.Represents the non-recurring gain from the sale in Argentina pesos of Argentina Sovereign U.S. dollar-denominated bonds due to the divergence of Argentina's Blue Chip Swap market exchange rate from the official rate.
3.The three and six months ended June 30, 2024 primarily includes impact of currency fluctuations on deferred income tax assets and liabilities related to the Allkem Livent Merger.
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Debt (Tables)
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consists of the following:
Interest Rate
Percentage
Maturity
Date		June 30, 2024December 31, 2023
(in Millions)SOFR borrowingsBase rate borrowings
Revolving Credit Facility (1)
7.19%9.25%2027$— $— 
4.125% Convertible Senior Notes due 2025
4.125%2025245.8 245.8 
Transaction costs - 2025 Notes
(1.6)(2.4)
Nemaska - Prepayment agreement - tranche 1 (2)
8.9%75.0 75.0 
Discount - Prepayment agreement(19.4)(19.8)
Nemaska - Prepayment agreement - tranche 2 (2)
9.4%150.0 — 
Discount - Prepayment agreement(53.4)— 
Nemaska - Other0.5 3.4 
Debt assumed in Allkem Livent Merger (3)
Project Loan Facility - Stage 1 of Olaroz Plant4.90%20249.1 — 
Project Loan Facility - Stage 2 of Olaroz Plant2.61%2029144.0 — 
Affiliate Loans with TTC15.25%203081.5 — 
Affiliate Loan with TLP10.34%20262.5 — 
Total debt assumed in Allkem Livent Merger237.1 — 
Subtotal long-term debt (including current maturities)634.0 302.0 
Less current maturities(43.4)(2.4)
Total long-term debt $590.6 $299.6 
______________________________
1.As of June 30, 2024 and December 31, 2023, there were $20.6 million and $15.5 million, respectively, in letters of credit outstanding under our Revolving Credit Facility and $479.4 million and $484.5 million available funds as of June 30, 2024 and December 31, 2023, respectively. Fund availability is subject to the Company meeting its debt covenants.
2.Represents advance payments in connection with customer supply agreement which do not have a contractual interest rate or bear any actual interest and are repayable in equal quarterly installments beginning in January 2027 and ending in October 2031. Represents U.S. GAAP imputed interest rate.
3.On May 30, 2024, SDV SA paid the outstanding principal balance of $47.0 million, a prepayment fee of $0.9 million and accrued interest and commitment fees of $1.3 million to repay the Sal de Vida Project Financing Facility in its entirety.
v3.24.2.u1
Share-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan
We recognized the following share compensation expense for Legacy Livent Awards and awards under the Arcadium Plan:
Three Months Ended June 30,Six Months Ended June 30,
(in Millions)2024
Share Option Expense, net of taxes of $0.1 and $0.2
$0.8 $1.2 
Restricted Share Expense, net of taxes of $0.4 and $1.1
2.7 16.8 
Performance-Based Restricted Share Expense, net of taxes of zero and less than $0.1
— 0.4 
Total Share Compensation Expense, net of taxes of $0.5 and $1.3 (1)
$3.5 $18.4 
____________________ 
(1)    Gross share compensation charges of $3.5 million and $0.5 million were recorded to Selling, general and administrative expenses and Restructuring and other charges, respectively, in our condensed consolidated statements of operations for the three months
ended June 30, 2024. Gross share compensation charges of $5.7 million and $14.0 million were recorded to Selling, general and administrative expenses and Restructuring and other charges, respectively, in our condensed consolidated statements of operations for the six months ended June 30, 2024.
Schedule of Black Scholes Valuation Assumptions for Stock Option Grants Black Scholes valuation assumptions for Arcadium Plan share options granted in 2024: 
Six months ended June 30, 2024
Grant date3/6/20245/14/20246/28/2024
Expected dividend yield—%—%—%
Expected volatility31.18%31.97%33.00%
Expected life (in years)6.06.06.0
Risk-free interest rate4.08%4.41%4.28%
Schedule of Stock Option Activity
The following summary shows share option activity for the Allkem Livent Merger and the Arcadium Plan for the six months ended June 30, 2024:
Number of Options Granted But Not ExercisedWeighted-Average Remaining Contractual Life
(in Years)		Weighted-Average Exercise Price Per ShareAggregate Intrinsic Value (in Millions)
Outstanding December 31, 20235,060,687 5.6 years$6.73 $6.5 
Granted3,877,317 $4.92 
Exercised(53,056)$4.05 $— 
Forfeited(2,610)$9.70 
Outstanding at June 30, 2024
8,882,338 7.1$5.96 $0.1 
Exercisable at June 30, 2024
4,136,405 4.5$6.25 $0.1 
Schedule of Restricted Award Activity The following table shows RSU activity for the Allkem Livent Merger and the Arcadium Plan for the six months ended June 30, 2024:
Restricted Share Units
Number of
awards		Weighted-Average Grant Date Fair ValueAggregate Intrinsic Value (in Millions)
Nonvested December 31, 20232,287,088 $7.83 $17.1 
Granted (1)
3,868,888 $5.44 
Vested (2)
(1,869,675)$7.19 
Nonvested June 30, 2024
4,286,301 $5.95 $14.4 
___________________
1.The Company granted 1,080,825 Allkem Replacement Awards on January 12, 2024 pursuant to the Transaction Agreement.
2.Immediately prior to the Acquisition Date, 768,440 non-employee Director RSUs vested and were paid out in cash of $5.3 million pursuant to the Transaction Agreement.
The following table shows PRSU activity for the six months ended June 30, 2024.
Performance-Based Restricted Share Units
Number of
awards		Weighted-Average Grant Date Fair ValueAggregate Intrinsic Value (in Millions)
Nonvested as of December 31, 202396,885 $9.42 $0.7 
Vested(96,885)$9.42 
Nonvested as of June 30, 2024
— $— $— 
v3.24.2.u1
Equity (Tables)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Schedule of Common Stock Issued and Outstanding The following is a summary of Arcadium's ordinary shares issued and outstanding:
IssuedTreasuryOutstanding
Balance as of December 31, 2023 (1)
433,059,946 (263,669)432,796,277 
Issued to Allkem shareholders - Allkem Livent Merger641,337,840 — 641,337,840 
PRSU and RSU awards accelerated - Allkem Livent Merger648,969 — 648,969 
Arcadium RSU awards155,706 — 155,706 
Arcadium share option awards8,497 — 8,497 
Net sales of treasury shares - Arcadium NQSP— 766 766 
Balance as of June 30, 20241,075,210,958 (262,903)1,074,948,055 
_____________________
1.Balances outstanding as of December 31, 2023, representing predecessor Livent, have been adjusted to reflect the 2.406 Exchange Ratio.
Schedule of Accumulated Other Comprehensive Income (Loss)
Summarized below is the roll forward of accumulated other comprehensive loss, net of tax.
(in Millions)Foreign currency adjustmentsDerivative Instruments Total
Accumulated other comprehensive loss, net of tax as of December 31, 2023
$(49.8)$— $(49.8)
Other comprehensive (losses)/income before reclassifications(30.5)0.3 (30.2)
Accumulated other comprehensive loss, net of tax as of June 30, 2024
$(80.3)$0.3 $(80.0)
(in Millions)Foreign currency adjustmentsDerivative Instruments Total
Accumulated other comprehensive loss, net of tax as of December 31, 2022
$(51.0)$— $(51.0)
Other comprehensive income before reclassifications0.5 0.6 1.1 
Accumulated other comprehensive loss, net of tax as of June 30, 2023
$(50.5)$0.6 $(49.9)
v3.24.2.u1
Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Calculation of Basic and Diluted Earnings Per Share
Earnings applicable to ordinary shares and ordinary shares used in the calculation of basic and diluted earnings per share are as follows:
(in Millions, Except Share and Per Share Data)Three Months Ended June 30,Six Months Ended June 30,
2024
2023 (1)
2024
2023 (1)
Numerator:
Net income attributable to Arcadium Lithium plc$85.7 $90.2 $101.3 $205.0 
Denominator:
Weighted average ordinary shares outstanding - basic
1,074.9 432.3 1,064.2 432.2 
Dilutive share equivalents from share-based plans 0.9 3.9 1.0 3.8 
Dilutive share equivalents from 2025 Notes67.7 67.7 67.7 67.7 
Weighted average ordinary shares outstanding - diluted 1,143.5 503.9 1,132.9 503.7 
Basic earnings per ordinary share$0.08 $0.21 $0.10 $0.47 
Diluted earnings per ordinary share$0.07 $0.18 $0.09 $0.41 
_____________________
1.For the three and six months ended June 30, 2023, weighted average ordinary shares outstanding - basic and diluted, dilutive share equivalents and basic and diluted earnings per ordinary share amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio.
v3.24.2.u1
Financial Instruments, Risk Management and Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule Of Financial Instrument Valuation Methods Our other financial instruments include the following:
Financial InstrumentValuation Method
Foreign exchange forward contractsEstimated amounts that would be received or paid to terminate the contracts at the reporting date based on current market prices for applicable currencies.
Schedule of Fair Value of Derivative Instruments
The following table provides the gross fair value and net balance sheet presentation of our derivative instruments. The Company had no open derivative cash flow hedge contracts as of December 31, 2023.
June 30, 2024
Gross Amount of Derivatives
(in Millions)Designated as Cash Flow Hedges
Derivative assets
Foreign exchange contracts$0.4 
Total derivative assets (1)
0.4 
Net derivative assets$0.4 
__________________
1.Net balance is included in Prepaid and other current assets in the condensed consolidated balance sheets.
Schedule of Derivatives in Cash Flow Hedging Relationships
The following tables summarize the gains or losses related to our cash flow hedges and derivatives not designated as cash flow hedging instruments.
Derivatives in Cash Flow Hedging Relationships
(in Millions)Total Foreign Exchange Contracts
Accumulated other comprehensive income, net of tax as of December 31, 2023$— 
Unrealized hedging gains, net of tax 0.2 
Total derivatives instruments impact on comprehensive income, net of tax0.2 
Accumulated other comprehensive income, net of tax as of March 31, 2024$0.2 
Unrealized hedging gains, net of tax 0.1 
Total derivatives instruments impact on comprehensive income, net of tax0.1 
Accumulated other comprehensive income, net of tax at June 30, 2024$0.3 
(in Millions)Total Foreign Exchange Contracts
Accumulated other comprehensive income, net of tax as of December 31, 2022$— 
Unrealized hedging gains, net of tax 0.2 
Total derivatives instruments impact on comprehensive income, net of tax0.2 
Accumulated other comprehensive income, net of tax as of March 31, 2023$0.2 
Unrealized hedging gains, net of tax 0.4 
Total derivatives instruments impact on comprehensive income, net of tax0.4 
Accumulated other comprehensive income, net of tax at June 30, 2023$0.6 
Schedule of Derivatives Not Designated as Cash Flow Hedging Instruments
Location of Gain or (Loss)
Recognized in Income on Derivatives
Amount of Pre-tax Gain or (Loss) 
Recognized in Income on Derivatives (1)
Three Months Ended June 30,Six Months Ended June 30,
(in Millions) 2024202320242023
Foreign Exchange contractsOther gain/(loss)$2.5 $(0.2)$13.1 $1.9 
Total$2.5 $(0.2)$13.1 $1.9 
____________________
1.Amounts represent the gain or loss on the derivative instrument offset by the gain or loss on the hedged item.
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The following tables present our fair-value hierarchy for those assets and liabilities measured at fair-value on a recurring basis in our condensed consolidated balance sheets.
(in Millions)June 30, 2024Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Assets
Investments in deferred compensation plan (1)
$6.3 $6.3 $— $— 
JEMSE Receivable5.0 — — 5.0 
Equity securities (2)
1.8 1.8 — — 
Derivatives – Foreign exchange 0.4 — 0.4 — 
Total Assets$13.5 $8.1 $0.4 $5.0 
Liabilities
Deferred compensation plan obligation (3)
$7.2 $7.2 $— $— 
Total Liabilities$7.2 $7.2 $— $— 
 
(in Millions)December 31, 2023Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Assets
Investments in deferred compensation plan (1)
$4.1 $4.1 $— — 
Total Assets$4.1 $4.1 $— $— 
Liabilities
Deferred compensation plan obligation (3)
$6.7 $6.7 $— $— 
Total Liabilities (4)
$6.7 $6.7 $— $— 
____________________
1.Balance is included in Investments in the condensed consolidated balance sheets. Arcadium NQSP investments in Arcadium ordinary shares are recorded as Treasury shares in the condensed consolidated balance sheets and carried at historical cost. Mark-to-market gains of $0.3 million and $1.1 million were recorded for the three and six months ended June 30, 2024, respectively. Mark-to-market losses of $0.6 million and $0.8 million were recorded for the three and six months ended June 30, 2023, related to the Arcadium ordinary shares. The mark-to-market gains and losses were recorded in Selling, general and administrative expenses in the condensed consolidated statements of operations, with a corresponding offset to the deferred compensation plan obligation in the condensed consolidated balance sheets.
2.Mark-to-market gains and losses are recorded to Other gain/loss in the condensed consolidated statement of operations.
3.Balance is included in Other long-term liabilities in the condensed consolidated balance sheets.
4.The Company had no open cash flow hedge contracts as of December 31, 2023.
v3.24.2.u1
Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Cost Quantitative disclosures about our leases are summarized in the table below.
Three Months Ended June 30,Six Months Ended June 30,
(in Millions, except for weighted-average amounts)2024202320242023
Lease Cost
Operating lease cost $4.2 $0.3 $8.5 $0.6 
Short-term lease cost
0.1 0.1 0.2 0.2 
Total lease cost (1)
$4.3 $0.4 $8.7 $0.8 
Other information
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases$3.8 $0.4 $8.2 $0.7 
__________________________
1.Lease expense is classified as Selling, general and administrative expenses in our condensed consolidated statements of operations.
Schedule of Maturity Analysis of Operating Lease Liabilities
The table below presents a maturity analysis of our operating lease liabilities for each of the next five years and a total of the amounts for the remaining years.

(in Millions)Undiscounted cash flows
Remainder of 2024$7.3 
20259.9 
20269.1 
20278.3 
20288.1 
Thereafter31.1 
Total future minimum lease payments73.8 
Less: Imputed interest(19.8)
Total$54.0 
v3.24.2.u1
Supplemental Information (Tables)
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Prepaid and Other Assets
The following tables present details of prepaid and other current assets, other assets, accrued and other current liabilities, and other long-term liabilities as presented on the condensed consolidated balance sheets:
(in Millions)June 30, 2024December 31, 2023
Prepaid and other current assets
Tax related items$113.6 $29.5 
Prepaid expenses66.3 16.9 
Argentina government receivable (1)
15.1 7.9 
Other receivables63.6 28.2 
Bank Acceptance Drafts (2)
1.2 — 
Derivative assets (Note 17)0.4 — 
Other current assets3.8 3.9 
Total$264.0 $86.4 

(in Millions)June 30, 2024December 31, 2023
Other assets
Argentina government receivable (1), (3)
$128.8 $71.3 
Advance to contract manufacturers (4)
26.1 27.6 
Long-term semi-finished goods inventory137.4 1.0 
Tax related items4.0 4.0 
Capitalized software, net1.5 1.1 
Other assets44.5 22.7 
Total$342.3 $127.7 
_________________
1.We have various subsidiaries that conduct business in Argentina. As of June 30, 2024 and December 31, 2023, $39.3 million and $38.8 million, respectively, of outstanding receivables due from the Argentina government, which primarily represent export tax and export rebate receivables, was denominated in U.S. dollars. A recent judicial decision relating to the U.S. dollar-denominated export tax receivable portion ($34.8 million) permits the Argentina government to reimburse us in Argentine pesos at the historical foreign exchange rate applicable at each past payment date, adjusted by a bank deposit interest rate. While Arcadium filed an appeal on November 6, 2023 and believes it has valid defenses on the technical merits, the ultimate resolution of this matter could result in a possible loss of up to $34.3 million. We continually review the recoverability of all outstanding receivables by analyzing historical experience, current collection trends and regional business and political factors among other factors.
2.Bank Acceptance Drafts are a common Chinese finance note used to settle trade transactions. The Company accepts these notes from Chinese customers based on criteria intended to ensure collectability and limit working capital usage.
3.In June 2023, the Company decided to pay $21.7 million for the export duties and interest claimed by the Customs Authorities of Buenos Aires, Ezeiza and Salta related to exports made between the years 2018 – 2022 registered in those locations. This payment stops the accrual of any further interest. It was a deposit made under protest and was not an admission of any of the claims made by the Customs Authorities or a waiver of any of the Company's defenses, including recovery of the deposit plus interest. The cases remain in discussion. See Note 20 for more information.
4.We record deferred charges for certain contract manufacturing agreements which we amortize over the term of the underlying contract.
Schedule of Accrued and Other Liabilities
(in Millions)June 30, 2024December 31, 2023
Accrued and other current liabilities
Accrued payroll$56.3 $31.2 
Retirement liability - 401k4.6 3.2 
Environmental reserves, current3.0 0.5 
Severance1.6 1.7 
Accrued investment in unconsolidated affiliates— 27.0 
Other accrued and other current liabilities (1)
94.3 73.2 
Total$159.8 $136.8 


(in Millions)June 30, 2024December 31, 2023
Other long-term liabilities
Deferred compensation plan obligation$7.2 $6.7 
Contingencies related to uncertain tax positions (2)
16.2 6.2 
Self-insurance reserves1.1 1.1 
Asset retirement obligations11.3 3.7 
Other long-term liabilities53.6 3.6 
Total$89.4 $21.3 
____________________
1.Amounts primarily include accrued capital expenditures related to our expansion projects.
2.As of June 30, 2024, we have recorded a liability for uncertain tax positions of $15.8 million and a $0.4 million indemnification liability where the offsetting uncertain tax position is with FMC, per the tax matters agreement.
v3.24.2.u1
Significant Accounting Policies and Related Financial Information - Schedule of Impact of Reclassifications (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Significant Accounting Policies [Line Items]          
Cost of sales $ 174.1 $ 154.8 $ 88.5 [1] $ 328.9 $ 174.8 [1]
Restructuring and other charges 21.9 79.8 24.3 [1] 101.7 26.3 [1]
Other (gains)/losses $ (79.9) (77.3) (7.6) [1] $ (157.2) (6.5) [1]
Prior Presentation          
Significant Accounting Policies [Line Items]          
Cost of sales   116.8 92.4   179.9
Restructuring and other charges   83.6 24.2   26.1
Other (gains)/losses   (43.1) (11.4)   (11.4)
Loss/(gain) Reclassified          
Significant Accounting Policies [Line Items]          
Cost of sales   (38.0) 3.9   5.1
Restructuring and other charges   3.8 (0.1)   (0.2)
Other (gains)/losses   $ (34.2) $ 3.8   $ 4.9
[1] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
v3.24.2.u1
Significant Accounting Policies and Related Financial Information - Narrative (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Aug. 02, 2024
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
segment
Jun. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
Significant Accounting Policies [Line Items]            
Number of reportable segments | segment       1    
Asset retirement obligation   $ 11.3   $ 11.3   $ 3.7
Realized foreign currency transaction gain   $ 20.9 $ 11.4 $ 50.5 $ 11.4  
Subsequent Event | Li-Metal Corp            
Significant Accounting Policies [Line Items]            
Asset acquisition, consideration transferred $ 11.0          
Minimum            
Significant Accounting Policies [Line Items]            
Payment term (in days)       20 days    
Maximum            
Significant Accounting Policies [Line Items]            
Payment term (in days)       180 days    
v3.24.2.u1
Allkem Livent Merger - Narrative (Details)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended
Jan. 04, 2024
USD ($)
$ / shares
shares
Jun. 30, 2024
USD ($)
$ / shares
Jun. 30, 2023
USD ($)
$ / shares
Jun. 30, 2024
USD ($)
$ / shares
Jun. 30, 2023
USD ($)
$ / shares
Dec. 31, 2023
$ / shares
Dec. 31, 2022
$ / shares
Business Acquisition [Line Items]              
Common stock, par value (in dollars per share) | $ / shares $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
Costs related to the Allkem Livent Merger | $   $ 19.8 $ 18.8 $ 86.8 $ 18.8    
Livent Corporation              
Business Acquisition [Line Items]              
Common stock, par value (in dollars per share) | $ / shares $ 0.001            
Allkem Livent Merger              
Business Acquisition [Line Items]              
Conversion ratio 2.406            
Trade receivables | $ $ 64.2            
Property, plant and equipment | $ 4,326.1            
Allkem Livent Merger | Mineral rights              
Business Acquisition [Line Items]              
Property, plant and equipment | $ 2,745.0            
Allkem Livent Merger | Non Mining Properties and Mineral Rights              
Business Acquisition [Line Items]              
Property, plant and equipment | $ $ 1,581.1            
Allkem Livent Merger | Former Livent Stockholders              
Business Acquisition [Line Items]              
Number of shares issued in transaction (in shares) | shares 433,156,855            
Allkem Livent Merger | Former Allkem Shareholders              
Business Acquisition [Line Items]              
Number of shares issued in transaction (in shares) | shares 641,337,840            
Allkem Livent Merger | CHESS Depositary Instrument              
Business Acquisition [Line Items]              
Equity interest issued or issuable, share exchange ratio 1            
Allkem Livent Merger | CHESS Depositary Instrument | Former Allkem Shareholders              
Business Acquisition [Line Items]              
Number of shares issued in transaction (in shares) | shares 542,612,224            
Allkem Livent Merger | Ordinary Shares, $1.00 Per Share Par Value              
Business Acquisition [Line Items]              
Equity interest issued or issuable, share exchange ratio 1            
Allkem Livent Merger | Ordinary Shares, $1.00 Per Share Par Value | Former Allkem Shareholders              
Business Acquisition [Line Items]              
Number of shares issued in transaction (in shares) | shares 98,725,616            
Allkem Livent Merger | Performance Shares | Former Livent Stockholders              
Business Acquisition [Line Items]              
Number of shares issued in transaction (in shares) | shares 96,909            
v3.24.2.u1
Allkem Livent Merger - Consideration Transferred (Details) - Allkem Livent Merger
$ in Millions
Jan. 04, 2024
USD ($)
Business Acquisition [Line Items]  
Fair value of Arcadium ordinary shares issued to Allkem shareholders $ 4,385.6
Fair value of converted Allkem performance rights attributable to pre-combination service 4.8
Total consideration $ 4,390.4
v3.24.2.u1
Allkem Livent Merger - Purchase Price Allocation (Details) - USD ($)
$ in Millions
Jan. 04, 2024
Jun. 30, 2024
Dec. 31, 2023
Liabilities assumed:      
Goodwill   $ 1,300.3 $ 120.7 [1]
Allkem Livent Merger      
Business Acquisition [Line Items]      
Total consideration $ 4,390.4    
Assets acquired:      
Cash and cash equivalents 681.4    
Trade receivables 64.2    
Inventories 121.3    
Prepaid and other current assets 87.2    
Property, plant and equipment 4,326.1    
Right of use assets - operating leases, net 53.4    
Deferred income tax assets 26.3    
Other assets 192.9    
Total assets acquired 5,552.8    
Liabilities assumed:      
Accounts payable, trade and other 223.7    
Accrued and other current liabilities 35.1    
Income taxes 78.5    
Long-term debt including current portion 301.7    
Operating lease liabilities - long-term 53.4    
Environmental liabilities 9.8    
Deferred income tax liabilities 1,315.3    
Other long-term liabilities 49.5    
Total liabilities assumed 2,067.0    
Fair value of net assets acquired 3,485.8    
Add: Fair value of noncontrolling interests acquired 275.0    
Fair value of net assets acquired less noncontrolling interests acquired 3,210.8    
Allkem      
Liabilities assumed:      
Goodwill $ 1,179.6 $ 1,179.6 $ 0.0
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
v3.24.2.u1
Allkem Livent Merger - Earnings Subsequent to the Closing Date of Transaction (Details) - Allkem Livent Merger - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2024
Business Acquisition [Line Items]    
Revenue $ 83.8 $ 186.3
Income from operations before income taxes $ 75.8 $ 152.2
v3.24.2.u1
Allkem Livent Merger - Pro Forma Information (Details) - Allkem Livent Merger - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2023
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]    
Revenue $ 569.8 $ 1,139.2
Net income $ 278.4 $ 513.4
v3.24.2.u1
Goodwill (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2024
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 120.7 [1]
Acquisitions - Allkem Livent Merger 1,189.2
Measurement period adjustments (9.6)
Ending balance 1,300.3
Allkem  
Goodwill [Roll Forward]  
Beginning balance 0.0
Acquisitions - Allkem Livent Merger 1,189.2
Measurement period adjustments (9.6)
Ending balance 1,179.6
Nemaska Lithium  
Goodwill [Roll Forward]  
Beginning balance 120.7
Acquisitions - Allkem Livent Merger 0.0
Measurement period adjustments 0.0
Ending balance $ 120.7
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
v3.24.2.u1
Revenue Recognition - Disaggregation of Revenue by Major Geographical Region (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Disaggregation of Revenue [Line Items]        
Consolidated Revenue $ 254.5 $ 235.8 [1] $ 515.7 $ 489.3 [1]
Asia Pacific        
Disaggregation of Revenue [Line Items]        
Consolidated Revenue 211.8 171.6 431.9 338.6
North America        
Disaggregation of Revenue [Line Items]        
Consolidated Revenue 22.8 40.7 43.5 92.6
Europe, Middle East & Africa        
Disaggregation of Revenue [Line Items]        
Consolidated Revenue 19.5 23.5 39.1 56.3
Latin America        
Disaggregation of Revenue [Line Items]        
Consolidated Revenue 0.4 0.0 1.2 1.8
China        
Disaggregation of Revenue [Line Items]        
Consolidated Revenue 155.1 90.8 281.0 179.2
Japan        
Disaggregation of Revenue [Line Items]        
Consolidated Revenue $ 31.8 42.7 77.8 76.1
United States        
Disaggregation of Revenue [Line Items]        
Consolidated Revenue   39.9   90.1
South Korea        
Disaggregation of Revenue [Line Items]        
Consolidated Revenue   $ 31.2 $ 64.9 $ 66.3
[1] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
v3.24.2.u1
Revenue Recognition - Narrative (Details) - Revenue from Contract with Customer Benchmark - Customer Concentration Risk
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Customer One        
Disaggregation of Revenue [Line Items]        
Concentration risk percentage 24.00% 24.00% 23.00% 24.00%
Customer Two        
Disaggregation of Revenue [Line Items]        
Concentration risk percentage 21.00% 23.00% 18.00% 21.00%
Customer Three        
Disaggregation of Revenue [Line Items]        
Concentration risk percentage     10.00%  
Ten Largest Customers        
Disaggregation of Revenue [Line Items]        
Concentration risk percentage 72.00% 72.00% 73.00% 68.00%
v3.24.2.u1
Revenue Recognition - Disaggregation of Revenue By Major Product Category (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Disaggregation of Revenue [Line Items]        
Consolidated Revenue $ 254.5 $ 235.8 [1] $ 515.7 $ 489.3 [1]
Lithium Hydroxide        
Disaggregation of Revenue [Line Items]        
Consolidated Revenue 113.1 153.6 223.7 306.3
Lithium Carbonate        
Disaggregation of Revenue [Line Items]        
Consolidated Revenue 72.7 5.1 152.5 14.5
Butyllithium and Other Lithium Specialties        
Disaggregation of Revenue [Line Items]        
Consolidated Revenue 44.9 77.1 90.9 168.5
Spodumene Concentrate        
Disaggregation of Revenue [Line Items]        
Consolidated Revenue $ 23.8 $ 0.0 $ 48.6 $ 0.0
[1] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
v3.24.2.u1
Revenue Recognition - Assets and Liabilities (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
 [2]
Dec. 31, 2023
 [1]
Revenue from Contract with Customer [Abstract]      
Receivables from contracts with customers, net of allowances $ 94.1   $ 106.7
Contract liability - short-term 37.1   4.4
Contract liability - long-term 253.8   $ 217.8
(Decrease)/increase receivables from contracts with customers, net of allowances (12.6)    
(Decrease)/increase contract liability - short-term 32.7 $ (13.2)  
(Decrease)/increase contract liability - long-term $ 36.0    
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
[2] Represents the results of predecessor Livent’s operations for six months ended June 30, 2023, which do not include the operations of Allkem.
v3.24.2.u1
Revenue Recognition - Performance Obligations (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
$ in Billions
Jun. 30, 2024
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1.7
Expected timing of satisfaction of performance obligations 5 years
v3.24.2.u1
Inventories, Net - Schedule of Inventory (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Inventory Disclosure [Abstract]    
Finished goods $ 130.3 $ 59.1
Semi-finished goods 101.4 108.8
Raw materials, supplies, and other 101.4 49.6
Inventory, net $ 333.1 $ 217.5 [1]
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
v3.24.2.u1
Investments- Equity Method Investments (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]    
Investments $ 38.2 $ 34.8 [1]
ESM ILiAD, LLC    
Schedule of Equity Method Investments [Line Items]    
Investments 30.1 30.1
Arcadium NQSP    
Schedule of Equity Method Investments [Line Items]    
Investments 6.3 4.7
Other    
Schedule of Equity Method Investments [Line Items]    
Investments $ 1.8 $ 0.0
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
v3.24.2.u1
Investments- Narrative (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]    
Investment carrying amount $ 38.2 $ 34.8 [1]
Toyotsu Lithium Corporation    
Schedule of Equity Method Investments [Line Items]    
Ownership interest by parent percentage 75.00%  
Subsidiary, economic interest percentage, noncontrolling interest 51.00%  
Toyotsu Lithium Corporation | Class A Voting Shares    
Schedule of Equity Method Investments [Line Items]    
Ownership interest by parent percentage 49.00%  
Toyotsu Lithium Corporation | Class B Nonvoting Shares    
Schedule of Equity Method Investments [Line Items]    
Ownership interest by parent percentage 100.00%  
Toyota Tsusho Corporation    
Schedule of Equity Method Investments [Line Items]    
Ownership interest by parent percentage 49.00%  
Subsidiary, economic interest percentage, noncontrolling interest 25.00%  
Toyota Tsusho Corporation | Class A Voting Shares    
Schedule of Equity Method Investments [Line Items]    
Ownership interest by parent percentage 51.00%  
ESM ILiAD, LLC    
Schedule of Equity Method Investments [Line Items]    
Investment carrying amount $ 30.1 $ 30.1
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
v3.24.2.u1
Partially-Owned Subsidiaries and Noncontrolling Interests (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 28, 2024
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Mar. 31, 2024
Mar. 27, 2024
Dec. 31, 2023
Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]                  
Equity in net loss of unconsolidated affiliate   $ 0.0 $ 7.2 [1] $ 0.0 $ 15.3 [1],[2]        
Cash and cash equivalents   380.4   380.4       $ 237.6 [3]  
Long-term debt   634.0   634.0       $ 302.0  
Cash held in subsidiary entities   $ 65.0   $ 65.0          
Investment interest-free loan repaid dividends percentage   33.00%   33.00%          
Line of Credit                  
Schedule of Equity Method Investments [Line Items]                  
Restricted cash, noncurrent   $ 24.6   $ 24.6          
Sales De Jujuy Pte Ltd                  
Schedule of Equity Method Investments [Line Items]                  
Ownership interest by parent percentage   72.68%   72.68%          
Sales De Jujuy Pte Ltd | Toyota Tsusho Corporation                  
Schedule of Equity Method Investments [Line Items]                  
Subsidiary, ownership percentage, noncontrolling owner   27.32%   27.32%          
Sales De Jujuy S.A                  
Schedule of Equity Method Investments [Line Items]                  
Ownership interest by parent percentage   66.50%   66.50%          
Sales De Jujuy S.A | Jujuy Energia y Minera Sociedad del Estado                  
Schedule of Equity Method Investments [Line Items]                  
Subsidiary, ownership percentage, noncontrolling owner   8.50%   8.50%          
Sales De Jujuy S.A | Sales De Jujuy Pte Ltd                  
Schedule of Equity Method Investments [Line Items]                  
Ownership interest by parent percentage   91.50%   91.50%          
Olaroz                  
Schedule of Equity Method Investments [Line Items]                  
Ownership interest by parent percentage   66.50%   66.50%          
Olaroz | Toyota Tsusho Corporation                  
Schedule of Equity Method Investments [Line Items]                  
Subsidiary, ownership percentage, noncontrolling owner   25.00%   25.00%          
Olaroz | Jujuy Energia y Minera Sociedad del Estado                  
Schedule of Equity Method Investments [Line Items]                  
Subsidiary, ownership percentage, noncontrolling owner   8.50%   8.50%          
Nemaska Lithium Inc.                  
Schedule of Equity Method Investments [Line Items]                  
Equity interest percentage                 50.00%
Equity method investments                 $ 437.1
Equity in net loss of unconsolidated affiliate     $ 7.2   $ 15.3        
Cash and cash equivalents           $ 149.7      
Proceeds from investment cash in second advance payment $ 150.0                
Long-term debt             $ 97.8    
Contract liabilities from customers             $ 52.2    
Cumulative proceeds from supply agreement       $ 225.0          
Nemaska Lithium Inc. | Scenario, Plan                  
Schedule of Equity Method Investments [Line Items]                  
Advances to contract manufacturers   $ 350.0   350.0          
Sales De Jujuy Pte Ltd                  
Schedule of Equity Method Investments [Line Items]                  
Accounts receivable, fair value   $ 5.0   $ 5.0          
[1] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
[2] Represents the results of predecessor Livent’s operations for six months ended June 30, 2023, which do not include the operations of Allkem.
[3] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
v3.24.2.u1
Property, Plant and Equipment, Net (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Property, Plant and Equipment [Line Items]      
Total cost $ 7,342.7   $ 2,506.2
Accumulated depreciation (307.8)   (269.1)
Property, plant and equipment, net 7,034.9   2,237.1 [1]
Depreciation 44.7 $ 12.3  
Land and land improvements      
Property, Plant and Equipment [Line Items]      
Total cost 319.8   106.2
Buildings      
Property, Plant and Equipment [Line Items]      
Total cost $ 896.7   134.9
Buildings | Minimum      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life 20 years    
Buildings | Maximum      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life 40 years    
Machinery and equipment      
Property, Plant and Equipment [Line Items]      
Total cost $ 735.0   420.7
Mineral rights      
Property, Plant and Equipment [Line Items]      
Total cost 3,280.0   560.0
Construction in progress      
Property, Plant and Equipment [Line Items]      
Total cost $ 2,111.2   $ 1,284.4
Land improvements      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life 20 years    
Leased plant and equipment | Minimum      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life 1 year    
Leased plant and equipment | Maximum      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life 10 years 6 months    
Other machinery and equipment | Minimum      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life 3 years    
Other machinery and equipment | Maximum      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life 18 years    
Software | Minimum      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life 3 years    
Software | Maximum      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life 10 years    
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
v3.24.2.u1
Restructuring and Other Charges - Restructuring Charges in Consolidated Income (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Restructuring charges:        
Restructuring charges $ 3.2 $ 0.7 $ 14.1 $ 2.4
Other charges:        
Costs related to the Allkem Livent Merger 19.8 18.8 86.8 18.8
Bessemer City plant fire loss 0.0 5.0 0.0 5.0
Other (1.1) (0.2) 0.8 0.1
Total Restructuring and other charges $ 21.9 $ 24.3 $ 101.7 $ 26.3
v3.24.2.u1
Other gains (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Other Income and Expenses [Abstract]          
Non-recurring - SDV SA and MdA Holdings LLC $ 16.8   $ 11.4 $ 36.5 $ 11.4
Recurring - SDJ and MdA 4.1   0.0 14.0 0.0
Total costs and expenses 20.9   11.4 50.5 11.4
Foreign currency remeasurement gains/(losses):          
Remeasurement gains on U.S. dollar denominated cash held by foreign currency functional subsidiary 0.4   0.0 14.3 0.0
All other foreign currency remeasurement gains/(losses) 58.6   (3.8) 92.8 (4.9)
Total Foreign currency remeasurement gains/(losses) 59.0   (3.8) 107.1 (4.9)
Loss on trading securities 0.0   0.0 (0.4) 0.0
Total Other gains $ 79.9 $ 77.3 $ 7.6 [1] $ 157.2 $ 6.5 [1]
[1] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
v3.24.2.u1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Tax Disclosure [Abstract]        
Income tax expense $ 35.3 $ 14.6 [1] $ 89.1 $ 38.5 [1]
Effective tax rate 27.20% 13.90% 43.80% 15.80%
[1] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
v3.24.2.u1
Asset Retirement Obligations (Details) - Allkem Livent Merger
$ in Millions
Jun. 30, 2024
USD ($)
Mt Cattlin Spodumene Mine  
Business Acquisition [Line Items]  
Asset retirement obligations acquired $ 7.3
Olaroz  
Business Acquisition [Line Items]  
Asset retirement obligations acquired 1.5
Galaxy Lithium (SAL DE VIDA) S.A  
Business Acquisition [Line Items]  
Asset retirement obligations acquired $ 1.0
v3.24.2.u1
Debt - Long-term Debt (Details) - USD ($)
$ in Millions
May 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Debt Instrument [Line Items]      
Transaction costs/discount   $ (1.6) $ (2.4)
Subtotal long-term debt (including current maturities)   634.0 302.0
Less current maturities   (43.4) (2.4) [1]
Long-term debt   590.6 299.6 [1]
Total debt assumed in Allkem Livent Merger      
Debt Instrument [Line Items]      
Subtotal long-term debt (including current maturities)   $ 237.1 0.0
Nemaska Lithium | Prepayment Agreement Tranche One      
Debt Instrument [Line Items]      
Convertible debt, interest rate   8.90%  
Transaction costs/discount   $ (19.4) (19.8)
Nemaska - Prepayment agreement/Other   $ 75.0 75.0
Nemaska Lithium | Prepayment Agreement Tranche Two      
Debt Instrument [Line Items]      
Convertible debt, interest rate   9.40%  
Transaction costs/discount   $ (53.4) 0.0
Nemaska - Prepayment agreement/Other   150.0 0.0
Nemaska Lithium | Other      
Debt Instrument [Line Items]      
Nemaska - Prepayment agreement/Other   $ 0.5 3.4
Line of Credit | Project Loan Facility - Stage 1 of Olaroz Plant      
Debt Instrument [Line Items]      
Convertible debt, interest rate   4.896%  
Long-term debt, gross   $ 9.1 0.0
Line of Credit | Project Loan Facility - Stage 2 of Olaroz Plant      
Debt Instrument [Line Items]      
Convertible debt, interest rate   2.6119%  
Long-term debt, gross   $ 144.0 0.0
Line of Credit | Affiliate Loans with TTC      
Debt Instrument [Line Items]      
Convertible debt, interest rate   15.25%  
Long-term debt, gross   $ 81.5 0.0
Line of Credit | Affiliate Loan with TLP      
Debt Instrument [Line Items]      
Convertible debt, interest rate   10.34%  
Long-term debt, gross   $ 2.5 0.0
Line of Credit | Project Financing Facility - Sal de Vida      
Debt Instrument [Line Items]      
Long-term debt, gross $ 47.0    
Prepayment fee 0.9    
Deferred financing costs $ 1.3    
Convertible Debt      
Debt Instrument [Line Items]      
Convertible debt, interest rate   4.125%  
Long-term debt, gross   $ 245.8 245.8
Revolving Credit Facility      
Debt Instrument [Line Items]      
Letters of credit outstanding, amount   20.6 15.5
Line of credit, remaining borrowing capacity   479.4 484.5
Revolving Credit Facility | Line of Credit      
Debt Instrument [Line Items]      
Long-term debt, gross   $ 0.0 $ 0.0
SOFR borrowings | Revolving Credit Facility | Line of Credit      
Debt Instrument [Line Items]      
Credit facility, interest rate   7.19%  
Base rate borrowings | Revolving Credit Facility | Line of Credit      
Debt Instrument [Line Items]      
Credit facility, interest rate   9.25%  
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
v3.24.2.u1
Debt - Narrative (Details)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
May 30, 2024
USD ($)
Jan. 04, 2024
USD ($)
$ / shares
Jun. 30, 2024
USD ($)
$ / shares
Jun. 30, 2023
USD ($)
 [1]
Jun. 30, 2024
USD ($)
loan
day
$ / shares
Jun. 30, 2023
USD ($)
 [1],[2]
Dec. 31, 2020
USD ($)
day
$ / shares
Dec. 31, 2023
USD ($)
Debt Instrument [Line Items]                
Loss on debt extinguishment     $ 0.9 $ 0.0 $ 1.1 $ 0.0    
Cash and cash equivalents     $ 380.4   $ 380.4     $ 237.6 [3]
Convertible Debt                
Debt Instrument [Line Items]                
Debt interest rate     4.125%   4.125%      
Long-term debt, gross     $ 245.8   $ 245.8     245.8
Convertible Debt | Conversion Circumstance One                
Debt Instrument [Line Items]                
Conversion price per share (in dollars per share) | $ / shares     $ 4.72   $ 4.72      
Percentage of conversion price         130.00%      
Trading days | day         20      
Consecutive trading days | day         30      
Line of Credit                
Debt Instrument [Line Items]                
Restricted cash, noncurrent     $ 24.6   $ 24.6      
Line of Credit | Revolving Credit Facility                
Debt Instrument [Line Items]                
Long-term debt, gross     0.0   0.0     0.0
2025 Notes                
Debt Instrument [Line Items]                
Debt discount, excluding amortization     $ 2.5   $ 5.0      
2025 Notes | Convertible Debt                
Debt Instrument [Line Items]                
Debt interest rate     4.125%   4.125%   4.125%  
Aggregate principal amount of debt             $ 245.8  
Conversion price per share (in dollars per share) | $ / shares   $ 3.63         $ 8.73  
Percentage of conversion price             130.00%  
Trading days | day             20  
Consecutive trading days | day             30  
Redemption price, percentage of principal amount             100.00%  
Business day period | day             5  
Consecutive trading day period | day             5  
Trading price as percentage of closing price of common stock             98.00%  
Amortization of discount and transaction costs     $ 0.4   $ 0.8      
Conversion ratio (in shares)         0.275459331   0.1144885  
Convertible Senior Notes, Over-Allotment Option | Convertible Debt                
Debt Instrument [Line Items]                
Capital contribution from noncontrolling interest - Nemaska Lithium             $ 238.2  
Payments of debt issuance costs             $ 7.6  
Credit Agreement | Line of Credit | Revolving Credit Facility                
Debt Instrument [Line Items]                
Maximum borrowing capacity   $ 500.0            
Maximum increase in revolving credit commitments   $ 700.0            
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]   SOFR borrowings            
Basis spread on variable rate   0.10%            
Floor rate   0.00%            
Commitment fee percentage   0.25%            
Deferred financing costs         $ 0.8      
Loss on debt extinguishment     0.0   0.2      
Deferred financing costs     $ 2.5   $ 2.5      
Net leverage ratio         3.5      
Minimum interest coverage ratio         3.5      
Credit Agreement | Line of Credit | Letter of Credit                
Debt Instrument [Line Items]                
Maximum borrowing capacity   $ 50.0            
Project Financing Facility - Sal de Vida | Line of Credit                
Debt Instrument [Line Items]                
Maximum borrowing capacity $ 180.0              
Deferred financing costs 1.3              
Debt instruments, ownership percentage     1   1      
Long-term debt, gross 47.0              
Prepayment fee $ 0.9              
Project Loan Facility - Stage 1 of Olaroz Plant | Line of Credit                
Debt Instrument [Line Items]                
Debt interest rate     4.896%   4.896%      
Aggregate principal amount of debt     $ 9.1   $ 9.1      
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]         SOFR borrowings      
Basis spread on variable rate         0.80%      
Long-term debt, gross     $ 9.1   $ 9.1     0.0
Percentage of debt hedged by interest rate     88.60%   88.60%      
Project Loan Facility for Stage 1 | Line of Credit                
Debt Instrument [Line Items]                
Debt instrument, percent securitized     82.35%   82.35%      
Project Loan Facility - Stage 2 of Olaroz Plant | Line of Credit                
Debt Instrument [Line Items]                
Debt interest rate     2.6119%   2.6119%      
Long-term debt, gross     $ 144.0   $ 144.0     0.0
Cash and cash equivalents     $ 108.0   $ 108.0      
Fee for permitted reductions     0.025   0.025      
Affiliate Loans with TTC | Line of Credit                
Debt Instrument [Line Items]                
Debt interest rate     15.25%   15.25%      
Aggregate principal amount of debt     $ 93.0   $ 93.0      
Long-term debt, gross     $ 81.5   $ 81.5     $ 0.0
Number of loans | loan         11      
[1] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
[2] Represents the results of predecessor Livent’s operations for six months ended June 30, 2023, which do not include the operations of Allkem.
[3] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
v3.24.2.u1
Share-based Compensation - Narrative (Details)
$ / shares in Units, $ in Millions
 6 Months Ended
Jan. 04, 2024
shares
Dec. 22, 2023
Jun. 30, 2024
USD ($)
publicly_traded_peer
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of publicly traded peers | publicly_traded_peer     10
Weighted average grant date fair value (in dollars per share) | $ / shares     $ 1.92
Legacy Livent Awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common stock, shares authorized (in shares)     6,579,305
Stock Option      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment award, expiration period (in years)     10 years
Unrecognized compensation cost related to unvested stock options | $     $ 7.8
Requisite service period (in years)     2 years 7 months 6 days
RSU awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unrecognized compensation cost | $     $ 17.9
Requisite service period (in years)     2 years 4 months 24 days
Accelerated vesting, number (in shares)     927,510
Performance Shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Accelerated vesting, number (in shares) 96,885    
Performance Shares | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting percentage   100.00%  
Arcadium Lithium Omnibus Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common stock, shares authorized (in shares)     64,548,000
Share-based payment award, expiration period (in years)     10 years
v3.24.2.u1
Share-based Compensation - Stock Compensation (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock compensation expense, tax $ 500,000 $ 1,300,000
Stock compensation expense 3,500,000 18,400,000
Selling, General and Administrative Expenses    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Gross stock compensation charges 3,500,000 5,700,000
Restructuring Charges    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Gross stock compensation charges 500,000 14,000,000
Stock Option    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock compensation expense, tax 100,000 200,000
Stock compensation expense 800,000 1,200,000
RSU awards    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock compensation expense, tax 400,000 1,100,000
Stock compensation expense 2,700,000 16,800,000
Performance Shares    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock compensation expense, tax 0 100,000
Stock compensation expense $ 0 $ 400,000
v3.24.2.u1
Share-based Compensation - Black Scholes Assumptions (Details) - Stock Option
Jun. 28, 2024
May 14, 2024
Mar. 06, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected dividend yield 0.00% 0.00% 0.00%
Expected volatility 33.00% 31.97% 31.18%
Expected life (in years) 6 years 6 years 6 years
Risk-free interest rate 4.28% 4.41% 4.08%
v3.24.2.u1
Share-based Compensation - Stock Option Activity (Details)
$ / shares in Units, $ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2024
USD ($)
$ / shares
shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Number of Options Granted But Not Exercised    
Beginning balance (in shares) | shares 5,060,687  
Granted (in shares) | shares 3,877,317  
Exercised (in shares) | shares (53,056)  
Forfeited (in shares) | shares (2,610)  
Ending balance (in shares) | shares 8,882,338 5,060,687
Exercisable (in shares) | shares 4,136,405,000  
Weighted-Average Remaining Contractual Life (in Years)    
Outstanding 7 years 1 month 6 days 5 years 7 months 6 days
Exercisable 4 years 6 months  
Weighted-Average Exercise Price Per Share    
Outstanding (in dollars per share) | $ / shares $ 6.73  
Granted (in dollars per share) | $ / shares 4.92  
Exercised (in dollars per share) | $ / shares 4.05  
Forfeited (in dollars per share) | $ / shares 9.70  
Outstanding (in dollars per share) | $ / shares 5.96 $ 6.73
Exercisable (in dollars per share) | $ / shares $ 6.25  
Aggregate Intrinsic Value (in Millions)    
Outstanding | $ $ 0.1 $ 6.5
Exercised | $ 0.0  
Exercisable | $ $ 0.1  
v3.24.2.u1
Share-based Compensation - RSU and PRSU Activity (Details) - USD ($)
$ / shares in Units, $ in Millions
 6 Months Ended
Jan. 12, 2024
Jan. 03, 2024
Jun. 30, 2024
Dec. 31, 2023
RSU awards        
Number of awards        
Nonvested, beginning balance (in shares)     2,287,088  
Granted (in shares) 1,080,825   3,868,888  
Vested (in shares)   (768,440) (1,869,675)  
Nonvested, ending balance (in shares)     4,286,301  
Weighted-Average Grant Date Fair Value        
Nonvested, beginning balance (in dollars per share)     $ 7.83  
Granted (in dollars per share)     5.44  
Vested (in dollars per share)     7.19  
Nonvested, ending balance (in dollars per share)     $ 5.95  
Aggregate Intrinsic Value (in Millions)        
Aggregate intrinsic value     $ 14.4 $ 17.1
Intrinsic value of awards vested   $ 5.3    
Performance Shares        
Number of awards        
Nonvested, beginning balance (in shares)     96,885  
Vested (in shares)     (96,885)  
Nonvested, ending balance (in shares)     0  
Weighted-Average Grant Date Fair Value        
Nonvested, beginning balance (in dollars per share)     $ 9.42  
Vested (in dollars per share)     9.42  
Nonvested, ending balance (in dollars per share)     $ 0  
Aggregate Intrinsic Value (in Millions)        
Aggregate intrinsic value     $ 0.0 $ 0.7
v3.24.2.u1
Equity - Additional Information (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Jan. 04, 2024
Dec. 31, 2023
Dec. 31, 2022
Equity [Abstract]              
Common stock, shares authorized (in shares) 5,000,000,000   5,000,000,000   5,000,000,000 5,000,000,000  
Common stock, par value (in dollars per share) $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
Preferred stock, shares authorized (in shares) 125,000,000   125,000,000   125,000,000    
Preferred stock, par value (in dollars per share) $ 1.00   $ 1.00   $ 1.00    
Dividends paid $ 0 $ 0 $ 0 $ 0      
v3.24.2.u1
Equity - Summary of Common Stock Activity (Details)
 6 Months Ended
Jun. 30, 2024
shares
Jan. 04, 2024
Dec. 31, 2023
Jun. 30, 2023
Issued        
Beginning balance (in share) 433,059,946      
Arcadium share option awards (in shares) 3,877,317      
Ending balance (in share) 1,075,210,958      
Treasury        
Beginning balance (in shares) (263,669)      
Ending balance (in shares) (262,903)      
Outstanding        
Beginning balance, outstanding (in shares) 432,796,277      
Ending balance, outstanding (in shares) 1,074,948,055      
Exchange ratio       2.406
Allkem Livent Merger        
Outstanding        
Exchange ratio   2.406    
Ordinary Shares, $1.00 Per Share Par Value | Allkem Livent Merger        
Outstanding        
Exchange ratio     2.406  
Performance Share and Restricted Stock Units (RSUs), Accelerated Awards        
Issued        
PRSU and RSU awards accelerated - Allkem Livent Merger (in shares) 648,969      
Arcadium RSU awards        
Issued        
PRSU and RSU awards accelerated - Allkem Livent Merger (in shares) 155,706      
Ordinary Shares, $1.00 Per Share Par Value        
Issued        
Issued to Allkem shareholders - Allkem Livent Merger (in shares) 641,337,840      
Livent Plan | Performance Share and Restricted Stock Units (RSUs        
Outstanding        
Share issued during period (in shares) 648,969      
Livent Plan | Ordinary Shares, $1.00 Per Share Par Value        
Outstanding        
Share issued during period (in shares) 641,337,840      
Arcadium        
Treasury        
Net sales of treasury (in shares) 766      
Outstanding        
Net sales of treasury shares - Arcadium NQSP (in shares) 766      
Arcadium | Arcadium RSU awards        
Outstanding        
Share issued during period (in shares) 155,706      
Arcadium | Arcadium share option awards        
Issued        
Arcadium share option awards (in shares) 8,497      
Outstanding        
Share issued during period (in shares) 8,497      
v3.24.2.u1
Equity - Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance [1]   $ 1,784.2     $ 1,784.2  
Ending balance $ 6,262.8       6,262.8  
Total            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance   (49.8)   $ (51.0) (49.8) $ (51.0)
Other comprehensive income (losses) before reclassifications         (30.2) 1.1
Ending balance (80.0)   $ (49.9)   (80.0) (49.9)
Foreign currency adjustments            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance   (49.8)   (51.0) (49.8) (51.0)
Other comprehensive income (losses) before reclassifications         (30.5) 0.5
Ending balance (80.3)   (50.5)   (80.3) (50.5)
Derivative Instruments            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance 0.2 0.0 0.2 0.0 0.0 0.0
Other comprehensive income (losses) before reclassifications 0.1 0.2 0.4 0.2 0.3 0.6
Ending balance $ 0.3 $ 0.2 $ 0.6 $ 0.2 $ 0.3 $ 0.6
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
v3.24.2.u1
Earnings Per Share - EPS Calculation (Details)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
USD ($)
$ / shares
shares
Jun. 30, 2023
USD ($)
$ / shares
shares
Jun. 30, 2024
USD ($)
$ / shares
shares
Jun. 30, 2023
USD ($)
$ / shares
shares
Numerator:        
Net income attributable to Arcadium Lithium plc | $ $ 85.7 $ 90.2 [1] $ 101.3 $ 205.0 [1]
Denominator:        
Weighted average ordinary shares outstanding - basic (in shares) 1,074.9 432.3 [1] 1,064.2 432.2 [1]
Dilutive share equivalents from share-based plans (in shares) 0.9 3.9 1.0 3.8
Dilutive share equivalents from 2025 Notes (in shares) 67.7 67.7 67.7 67.7
Weighted average ordinary shares outstanding - diluted (in shares) 1,143.5 503.9 [1] 1,132.9 503.7 [1]
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share [Abstract]        
Basic earnings per ordinary share (in dollars per share) | $ / shares $ 0.08 $ 0.21 [1] $ 0.10 $ 0.47 [1]
Earnings Per Share, Diluted [Abstract]        
Diluted earnings per ordinary share (in dollars per share) | $ / shares $ 0.07 $ 0.18 [1] $ 0.09 $ 0.41 [1]
Exchange ratio   2.406   2.406
[1] For the three and six months ended June 30, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023 which do not include the operations of Allkem.
v3.24.2.u1
Earnings Per Share - Narrative (Details) - $ / shares
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share        
Antidilutive securities, exercise price (in dollars per share)     $ 4.92  
Stock Option        
Antidilutive Securities Excluded from Computation of Earnings Per Share        
Total antidilutive weighted average share equivalents (in shares) 7,529,226 2,611 7,529,226 2,611
Antidilutive securities, exercise price (in dollars per share) $ 6.36 $ 9.70 $ 6.36 $ 9.70
v3.24.2.u1
Financial Instruments, Risk Management and Fair Value Measurements - Narrative (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Estimate of Fair Value Measurement    
Derivative [Line Items]    
Long-term debt value $ 747.6  
Long-term debt 634.0 $ 302.0
Open foreign currency forward contracts designated as cash flow hedges, U.S. dollar equivalent 22.4  
Forward Contracts    
Derivative [Line Items]    
AOCI, net 0.4  
Foreign Exchange Contract | Not Designated as Hedging Instrument    
Derivative [Line Items]    
Open foreign currency forward contracts designated as cash flow hedges, U.S. dollar equivalent $ 101.6  
v3.24.2.u1
Financial Instruments, Risk Management and Fair Value Measurements - Schedule of Fair Value of Derivative Instruments (Details)
$ in Millions
Jun. 30, 2024
USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Total derivative assets $ 0.4
Net derivative assets 0.4
Foreign Exchange contracts  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Total derivative assets $ 0.4
v3.24.2.u1
Financial Instruments, Risk Management and Fair Value Measurements - Derivatives in Cash Flow Hedging Relationships (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance [1]   $ 1,784.2     $ 1,784.2  
Other comprehensive (loss)/income, net of tax $ (10.2)   $ (0.6) [2]   (30.2) $ 1.1 [2]
Ending balance 6,262.8       6,262.8  
Derivative Instruments            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance 0.2 0.0 0.2 $ 0.0 0.0 0.0
Unrealized hedging gains, net of tax 0.1 0.2 0.4 0.2 0.3 0.6
Other comprehensive (loss)/income, net of tax 0.1 0.2 0.4 0.2    
Ending balance $ 0.3 $ 0.2 $ 0.6 $ 0.2 $ 0.3 $ 0.6
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
[2] Represents the results of predecessor Livent’s operations for three and six months ended June 30, 2023, which do not include the operations of Allkem.
v3.24.2.u1
Financial Instruments, Risk Management and Fair Value Measurements - Derivatives Not Designated As Cash Flow Hedging Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Derivative [Line Items]        
Amount of pre-tax gain or (loss) recognized in income on derivatives $ 2.5 $ (0.2) $ 13.1 $ 1.9
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Gains (Losses) Other Nonoperating Gains (Losses) Other Nonoperating Gains (Losses) Other Nonoperating Gains (Losses)
Foreign Exchange contracts        
Derivative [Line Items]        
Amount of pre-tax gain or (loss) recognized in income on derivatives $ 2.5 $ (0.2) $ 13.1 $ 1.9
v3.24.2.u1
Financial Instruments, Risk Management and Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Assets          
Investments in deferred compensation plan $ 6.3   $ 6.3   $ 4.1
JEMSE Receivable 5.0   5.0    
Equity securities 1.8   1.8    
Derivatives – Foreign exchange 0.4   0.4    
Total Assets 13.5   13.5   4.1
Liabilities          
Deferred compensation plan obligation 7.2   7.2   6.7
Total Liabilities 7.2   7.2   6.7
Selling, General and Administrative Expenses          
Liabilities          
Mark-to-market gains (loss) on deferred compensation plan 0.3 $ (0.6) 1.1 $ (0.8)  
Quoted Prices in Active Markets for Identical Assets (Level 1)          
Assets          
Investments in deferred compensation plan 6.3   6.3   4.1
JEMSE Receivable 0.0   0.0    
Equity securities 1.8   1.8    
Derivatives – Foreign exchange 0.0   0.0    
Total Assets 8.1   8.1   4.1
Liabilities          
Deferred compensation plan obligation 7.2   7.2   6.7
Total Liabilities 7.2   7.2   6.7
Significant Other Observable Inputs (Level 2)          
Assets          
Investments in deferred compensation plan 0.0   0.0   0.0
JEMSE Receivable 0.0   0.0    
Equity securities 0.0   0.0    
Total Assets 0.4   0.4   0.0
Liabilities          
Deferred compensation plan obligation 0.0   0.0   0.0
Total Liabilities 0.0   0.0   0.0
Significant Unobservable Inputs (Level 3)          
Assets          
Investments in deferred compensation plan 0.0   0.0   0.0
JEMSE Receivable 5.0   5.0    
Equity securities 0.0   0.0    
Derivatives – Foreign exchange 0.0   0.0    
Total Assets 5.0   5.0   0.0
Liabilities          
Deferred compensation plan obligation 0.0   0.0   0.0
Total Liabilities $ 0.0   $ 0.0   $ 0.0
v3.24.2.u1
Commitments and Contingencies - Narrative (Details)
$ in Millions
Jun. 30, 2024
USD ($)
Jan. 04, 2024
USD ($)
Oct. 31, 2023
Oct. 26, 2023
Feb. 28, 2023
Feb. 08, 2023
Lessor, Lease, Description [Line Items]            
Export rate, percent of FOB value       1.50% 4.00%  
Export LA Puna rate, percent of FOB value           0.025
Remaining export rate, percent of FOB value     0.015     0.015
Export rebate receivable $ 4.5          
Operating lease, weighted average remaining lease term (in years) 8 years 2 months 12 days          
Operating lease, weighted average discount rate (as a percent) 8.60%          
Allkem Livent Merger            
Lessor, Lease, Description [Line Items]            
Right of use assets - operating leases, net   $ 53.4        
Operating lease liabilities - long-term   $ 53.4        
Minimum            
Lessor, Lease, Description [Line Items]            
Lessee, operating lease, remaining lease term 2 years          
Maximum            
Lessor, Lease, Description [Line Items]            
Lessee, operating lease, remaining lease term 27 years          
v3.24.2.u1
Commitments and Contingencies - Lease Cost (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Lease Cost        
Operating lease cost $ 4.2 $ 0.3 $ 8.5 $ 0.6
Short-term lease cost 0.1 0.1 0.2 0.2
Total lease cost 4.3 0.4 8.7 0.8
Cash paid for amounts included in the measurement of lease liabilities:        
Cash paid for operating leases $ 3.8 $ 0.4 $ 8.2 $ 0.7
v3.24.2.u1
Commitments and Contingencies - Maturity Analysis of Operating Lease Liabilities (Details)
$ in Millions
Jun. 30, 2024
USD ($)
Undiscounted cash flows  
Remainder of 2024 $ 7.3
2025 9.9
2026 9.1
2027 8.3
2028 8.1
Thereafter 31.1
Total future minimum lease payments 73.8
Less: Imputed interest (19.8)
Total $ 54.0
v3.24.2.u1
Supplemental Information - Prepaid and Other Current Assets (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Prepaid and other current assets    
Tax related items $ 113.6 $ 29.5
Prepaid expenses 66.3 16.9
Argentina government receivable 15.1 7.9
Other receivables 63.6 28.2
Bank Acceptance Drafts 1.2 0.0
Derivative assets (Note 17) 0.4 0.0
Other current assets 3.8 3.9
Total $ 264.0 $ 86.4 [1]
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
v3.24.2.u1
Supplemental Information - Other Assets (Details) - USD ($)
$ in Millions
 1 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
 [2]
Dec. 31, 2023
Nov. 06, 2023
Other assets          
Argentina government receivable   $ 128.8   $ 71.3  
Advance to contract manufacturers   26.1   27.6  
Long-term semi-finished goods inventory   137.4   1.0  
Tax related items   4.0   4.0  
Capitalized software, net   1.5   1.1  
Other assets   44.5   22.7  
Total   342.3   127.7 [1]  
Condensed Balance Sheet Statements, Captions [Line Items]          
Export tax receivable portion   34.8      
Payment of deposit to customs authorities $ 21.7 0.0 $ 21.7    
Argentina Government          
Condensed Balance Sheet Statements, Captions [Line Items]          
Export tax and export rebate receivable   $ 39.3   $ 38.8  
Settlement amount to be paid         $ 34.3
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
[2] Represents the results of predecessor Livent’s operations for six months ended June 30, 2023, which do not include the operations of Allkem.
v3.24.2.u1
Supplemental Information - Accrued and Other Current Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Accrued and other current liabilities    
Accrued payroll $ 56.3 $ 31.2
Retirement liability - 401k 4.6 3.2
Environmental reserves, current 3.0 0.5
Severance 1.6 1.7
Accrued investment in unconsolidated affiliates 0.0 27.0
Other accrued and other current liabilities 94.3 73.2
Accrued and other liabilities $ 159.8 $ 136.8 [1]
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.
v3.24.2.u1
Supplemental Information - Other Long-Term Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Other long-term liabilities    
Deferred compensation plan obligation $ 7.2 $ 6.7
Contingencies related to uncertain tax positions 16.2 6.2
Self-insurance reserves 1.1 1.1
Asset retirement obligations 11.3 3.7
Other long-term liabilities 53.6 3.6
Total 89.4 $ 21.3 [1]
TMA Agreement, Uncertain Tax Positions    
Other long-term liabilities    
Contingencies related to uncertain tax positions 15.8  
TMA Agreement, Indemnification Liability    
Other long-term liabilities    
Contingencies related to uncertain tax positions $ 0.4  
[1] Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.