Arcadium Lithium Releases Third Quarter 2024 Results

Revenue (M)

Volume

Unit

Lithium Hydroxide and Lithium
Carbonate⁴

$141.60

~8,750⁵

product

metric ton

$16,200 / product MT

Butyllithium &

Other Lithium Specialties

$39.40

~480

LCE³

$82,100 / LCE

Spodumene Concentrate

$22.10

~32,400

dry metric ton

$682 / 5.3% dmt

(~$770 SC6 equivalent)

Revenue (M)

Volume

Unit

Price

Lithium Hydroxide and Lithium
Carbonate⁴

$517.80

~28,850⁵

product

metric ton

$18,000 / product MT

Butyllithium &

Other Lithium Specialties

$130.20

~1,390

LCE³

$93,700 / LCE

Spodumene Concentrate

$70.80

~85,900

dry metric ton

$824 / 5.4% dmt

(~$925 SC6 equivalent)

¹ Reconciliation of Adjusted EBITDA, a non-GAAP measure, to net income attributable to Arcadium Lithium plc, the most directly comparable financial measure presented in accordance with GAAP, is set forth in the reconciliation table accompanying this release.

² Corresponds to Diluted adjusted after-tax earnings per share in the accompanying financial tables.  Reconciliation of Diluted adjusted after-tax earnings per share, a non-GAAP measure, to Diluted earnings per ordinary share (GAAP), the most directly comparable financial measure presented in accordance with GAAP, is set forth in the reconciliation table accompanying this release.

³ Lithium Carbonate Equivalents.

⁴ Includes 100% of Olaroz in which Arcadium Lithium has current economic interest of 66.5%.

⁵ Excludes lithium carbonate by-product.

⁶ Includes conversion of all outstanding convertible senior notes due 2025.

ARCADIUM LITHIUM PLC
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in millions, except per share data)

Three Months Ended
September 30,

Nine Months Ended
September 30,

2024

2023 ⁽¹⁾

2024

2023 ⁽¹⁾

Revenue

$      203.1

$      211.4

$    718.8

$      700.7

Costs of sales

146.9

83.6

475.8

258.4

Gross margin

56.2

127.8

243.0

442.3

Impairment charges

51.7

—

51.7

—

Selling, general and administrative expenses

39.7

13.2

95.1

47.1

Research and development expenses

1.2

1.3

3.8

3.3

Restructuring and other charges

9.7

8.7

111.4

35.0

Total costs and expenses

249.2

106.8

737.8

343.8

(Loss)/income from operations before equity in net loss of unconsolidated
affiliate, interest expense/(income), net, loss on debt extinguishment and
other (gains)/losses

(46.1)

104.6

(19.0)

356.9

Equity in net loss of unconsolidated affiliate

5.9

6.7

5.9

22.0

Interest expense/(income), net

1.5

—

(18.8)

—

Loss on debt extinguishment

—

—

1.1

—

Other (gains)/losses

(44.8)

1.2

(202.0)

(5.3)

(Loss)/income from operations before income taxes

(8.7)

96.7

194.8

340.2

Income tax (benefit)/expense

(33.4)

9.3

55.7

47.8

Net income

$         24.7

$         87.4

$    139.1

$      292.4

Net income attributable to noncontrolling interests

8.6

—

21.7

—

Net income attributable to Arcadium Lithium plc

$         16.1

$         87.4

$    117.4

$      292.4

Basic earnings per ordinary share

$         0.01

$         0.20

$       0.11

$         0.68

Diluted earnings per ordinary share

$         0.01

$         0.17

$       0.10

$         0.58

Weighted average ordinary shares outstanding - basic

1,075.1

432.4

1,067.8

432.3

Weighted average ordinary shares outstanding - diluted

1,143.6

503.6

1,136.4

503.5

_______________________

1.

For the three and nine months ended September 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 nine months ended September 30, 2023 which do not include the operations of Allkem.

ARCADIUM LITHIUM PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

RECONCILIATION OF NET INCOME ATTRIBUTABLE TO ARCADIUM LITHIUM PLC (GAAP) TO ADJUSTED
EBITDA (NON-GAAP) 
(Unaudited)

Three Months Ended
September 30,

Nine Months Ended
September 30,

(in Millions)

2024

2023 ⁽¹⁾

2024

2023 ⁽¹⁾

Net income attributable to Arcadium Lithium plc

$               16.1

$              87.4

$            117.4

$           292.4

Add back:

Net income attributable to noncontrolling interests 

8.6

—

21.7

—

Interest expense/(income), net

1.5

—

(18.8)

—

Income tax (benefit)/expense

(33.4)

9.3

55.7

47.8

Depreciation and amortization

26.3

7.7

67.8

21.5

EBITDA (Non-GAAP) ⁽²⁾

19.1

104.4

243.8

361.7

Add back:

Argentina remeasurement (gains)/losses ^(a)

(30.1)

11.6

(126.3)

20.5

Impairment charges ^(b)

51.7

—

51.7

—

Restructuring and other charges ^(c)

9.7

8.7

111.4

35.0

Loss on debt extinguishment ^(d)

—

—

1.1

—

Inventory step-up, Allkem Livent Merger ^(e)

0.5

—

21.0

—

Other losses/(gains) ^(f)

1.0

5.0

(6.4)

15.8

Subtract:

Blue Chip Swap gain ^(g)

(8.7)

(10.0)

(45.2)

(21.4)

Argentina interest income ^(h)

(0.3)

—

(0.3)

—

Adjusted EBITDA (Non-GAAP) ⁽²⁾

$               42.9

$           119.7

$            250.8

$           411.6

__________________

1.

Represents the results of predecessor Livent's operations for three and nine months ended September 30, 2023 which do not include the operations of Allkem.

2.

We evaluate operating performance using certain Non-GAAP measures such as EBITDA, which we define as net income attributable to Arcadium Lithium plc plus noncontrolling interests, interest expense/(income), net, income tax (benefit)/expense and depreciation and amortization; and Adjusted EBITDA, which we define as EBITDA adjusted for Argentina remeasurement (gains)/losses, impairment charges, restructuring and other charges, Merger-related inventory step-up, certain Blue Chip Swap gains and other losses/(gains). Management believes the use of these Non-GAAP measures allows management and investors to compare more easily the financial performance of its underlying business from period to period. The Non-GAAP information provided may not be comparable to similar measures disclosed by other companies because of differing methods used by other companies in calculating EBITDA and Adjusted EBITDA. This measure should not be considered as a substitute for net income or other measures of performance or liquidity reported in accordance with U.S. GAAP. The above table reconciles EBITDA and Adjusted EBITDA from net income.

a.

Represents impact of currency fluctuations primarily on deferred income tax assets and liabilities. Also includes impact of currency fluctuations on other tax assets and liabilities and on long-term monetary assets associated with our capital expansion as well as foreign currency devaluations. The remeasurement (gains)/losses are included within Other (gains)/losses in our condensed consolidated statements of operations but are excluded from our calculation of Adjusted EBITDA because of: i.) their nature as income tax related; ii.) their association with long-term capital projects which will not be operational until future periods; or iii.) the severity of the devaluations and their immediate impact on our operations in the country.

b.

In the third quarter of 2024, the Company's plan to place its Mt Cattlin spodumene operation in Western Australia into care and maintenance resulted in a non-cash charge of $51.7 million for the three and nine months ended September 30, 2024, and was recorded to Impairment charges in the condensed consolidated statement of operations. The impairment charges are excluded from our calculation of Adjusted EBITDA because the charges are nonrecurring.

c.

We continually perform strategic reviews and assess the return on our business. This sometimes results in management changes or in a plan to restructure the operations of our business. As part of these restructuring plans, demolition costs and write-downs of long-lived assets may occur. The three months ended September 30, 2024 and 2023 include costs related to the combination of Livent and Allkem in a stock-for-stock transaction (the "Allkem Livent Merger") of $12.2 million and $13.6 million, respectively. The nine months ended September 30, 2024 and 2023 include costs related to the Allkem Livent Merger of $99.0 million and $32.3 million, respectively. The nine months ended September 30, 2024 and 2023 include severance-related costs of $14.7 million and $2.4 million, respectively.

d.

The nine months ended September 30, 2024 includes a $0.9 million prepayment fee incurred when the Sal de Vida Project Financing Facility was repaid in its entirety by SDJ on May 30, 2024 and $0.2 million for the partial write-off of deferred financing costs for amendments to the Revolving Credit Facility. The debt extinguishment losses are excluded from our calculation of Adjusted EBITDA because the loss is nonrecurring.

e.

Relates to the step-up in inventory recorded for Allkem Livent Merger for the nine months ended September 30, 2024 as a result of purchase accounting, excluded from Adjusted EBITDA as the step-up is considered a one-time, non-recurring cost.

f.

The three and nine months ended September 30, 2024 primarily represents foreign currency remeasurement gains related to U.S. dollar-denominated cash balances temporarily held at a foreign currency-functional subsidiary. The three and nine months ended September 30, 2023, prior to consolidation of Nemaska Lithium Inc. ("NLI") on October 18, 2023, represents our 50% ownership interest in costs incurred for certain project-related costs to align NLI's reported results with Arcadium's capitalization policies and interest expense incurred by NLI, all included in Equity in net loss of unconsolidated affiliate in our condensed consolidated statements of operations. The Company consolidates NLI on a one-quarter lag basis and prior to October 18, 2023, accounted for its equity method investment in NLI on a one-quarter lag basis.

g.

Represents 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. 

h.

Represents interest income received from the Argentina government for the period beginning when the recoverability of certain of our expansion-related VAT receivables were approved by the Argentina government and ending on the date when the reimbursements were paid by the Argentina government but is excluded from our calculation of Adjusted EBITDA because of its association with long-term capital projects which will not be operational until future periods.

RECONCILIATION OF NET INCOME ATTRIBUTABLE TO ARCADIUM LITHIUM PLC (GAAP) TO 
ADJUSTED AFTER-TAX EARNINGS (NON-GAAP)
(Unaudited) 

(in Millions, Except Per Share Data)

Three Months Ended
September 30,

Nine Months Ended
September 30,

2024

2023 ⁽¹⁾

2024

2023 ⁽¹⁾

Net income attributable to Arcadium Lithium plc

$           16.1

$           87.4

$         117.4

$         292.4

Add back:

Net income attributable to noncontrolling interests

8.6

—

21.7

—

Special charges:

Argentina remeasurement (gains)/losses ^(a)

(30.1)

11.6

(126.3)

20.5

Impairment charges ^(b)

51.7

—

51.7

—

Restructuring and other charges ^(c)

9.7

8.7

111.4

35.0

Loss on debt extinguishment ^(d)

—

—

1.1

—

Inventory step-up, Allkem Livent Merger ^(e)

0.5

—

21.0

—

Other losses/(gains) ^(f)

1.0

5.0

(6.4)

15.8

Blue Chip Swap gain ^(g)

(8.7)

(10.0)

(45.2)

(21.4)

Argentina interest income ^(h)

(0.3)

—

(0.3)

—

Non-GAAP tax adjustments ⁽ⁱ⁾

(34.7)

(10.8)

3.6

(17.1)

Adjusted after-tax earnings (Non-GAAP) ⁽²⁾

$           13.8

$           91.9

$         149.7

$         325.2

Diluted earnings per ordinary share (GAAP)

$           0.01

$           0.17

$           0.10

$           0.58

Special charges per diluted share, before tax:

Argentina remeasurement (gains)/losses, per diluted share

(0.02)

0.02

(0.10)

0.04

Impairment charges, per diluted share

0.05

—

0.05

—

Restructuring and other charges, per diluted share

0.01

0.02

0.11

0.07

Inventory step-up, Allkem Livent Merger, per diluted share

—

—

0.02

—

Other losses/(gains), per diluted share

—

0.01

(0.01)

0.03

Blue Chip Swap gain, per diluted share

(0.01)

(0.02)

(0.04)

(0.04)

Non-GAAP tax adjustments, per diluted share

(0.03)

(0.02)

—

(0.03)

Diluted adjusted after-tax earnings per share (Non-GAAP) ⁽²⁾

$           0.01

$           0.18

$           0.13

$           0.65

Weighted average ordinary shares outstanding - diluted (Non-
GAAP) used in diluted adjusted after-tax earnings per share
computations

1,143.6

503.6

1,136.4

503.5

___________________

1.

For the three and nine months ended September 30, 2023, diluted earnings per ordinary share (GAAP), weighted average ordinary shares outstanding - diluted (Non-GAAP) and all per diluted share 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 nine months ended September 30, 2023 which do not include the operations of Allkem.

2.

The Company believes that the Non-GAAP financial measures Adjusted after-tax earnings and Diluted adjusted after-tax earnings per share provide useful information about the Company's operating results to management, investors and securities analysts. Adjusted after-tax earnings excludes the effects of, nonrecurring charges/(income) and tax-related adjustments. The Company also believes that excluding the effects of these items from operating results allows management and investors to compare more easily the financial performance of its underlying business from period to period. Diluted adjusted after-tax earnings per share (Non-GAAP) is calculated using weighted average common shares outstanding - diluted.                 

a.

Represents impact of currency fluctuations primarily on deferred income tax assets and liabilities. Also includes impact of currency fluctuations on other tax assets and liabilities and on long-term monetary assets associated with our capital expansion as well as foreign currency devaluations. The remeasurement (gains)/losses are included within Other (gains)/losses in our condensed consolidated statements of operations but are excluded from our calculation of Adjusted EBITDA because of: i.) their nature as income tax related; ii.) their association with long-term capital projects which will not be operational until future periods; or iii.) the severity of the devaluations and their immediate impact on our operations in the country.

b.

In the third quarter of 2024, the Company's plan to place its Mt Cattlin spodumene operation in Western Australia into care and maintenance resulted in a non-cash charge of $51.7 million for the three and nine months ended September 30, 2024, and was recorded to Impairment charges in the condensed consolidated statement of operations. The impairment charges are excluded from our calculation of Adjusted EBITDA because the charges are nonrecurring.

c.

We continually perform strategic reviews and assess the return on our business. This sometimes results in management changes or in a plan to restructure the operations of our business. As part of these restructuring plans, demolition costs and write-downs of long-lived assets may occur. The three months ended September 30, 2024 and 2023 include costs related to the Allkem Livent Merger of $12.2 million and $13.6 million, respectively. The nine months ended September 30, 2024 and 2023 include costs related to the Allkem Livent Merger of $99.0 million and $32.3 million, respectively. The nine months ended September 30, 2024 and 2023 include severance-related costs of $14.7 million and $2.4 million, respectively.

d.

The nine months ended September 30, 2024 includes a $0.9 million prepayment fee incurred when the Sal de Vida Project Financing Facility was repaid in its entirety by SDJ on May 30, 2024 and $0.2 million for the partial write-off of deferred financing costs for amendments to the Revolving Credit Facility. The debt extinguishment losses are excluded from our calculation of Adjusted EBITDA because the loss is nonrecurring.

e.

Relates to the step-up in inventory recorded for Allkem Livent Merger for the nine months ended September 30, 2024 as a result of purchase accounting, excluded from Adjusted EBITDA as the step-up is considered a one-time, non-recurring cost.

f.

The three and nine months ended September 30, 2024 primarily represents foreign currency remeasurement gains related to U.S. dollar-denominated cash balances temporarily held at a foreign currency-functional subsidiary. The three and nine months ended September 30, 2023, prior to consolidation of Nemaska Lithium Inc. ("NLI") on October 18, 2023, represents our 50% ownership interest in costs incurred for certain project-related costs to align NLI's reported results with Arcadium's capitalization policies and interest expense incurred by NLI, all included in Equity in net loss of unconsolidated affiliate in our condensed consolidated statements of operations. The Company consolidates NLI on a one-quarter lag basis and prior to October 18, 2023, accounted for its equity method investment in NLI on a one-quarter lag basis.

g.

Represents 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. 

h.

Represents interest income received from the Argentina government for the period beginning when the recoverability of certain of our expansion-related VAT receivables were approved by the Argentina government and ending on the date when the reimbursements were paid by the Argentina government but is excluded from our calculation of Adjusted EBITDA because of its association with long-term capital projects which will not be operational until future periods.

i.

The company excludes the GAAP tax provision, including discrete items, from the Non-GAAP measure Diluted adjusted after-tax earnings per share, and instead includes a Non-GAAP tax provision based upon the annual Non-GAAP effective tax rate. The GAAP tax provision includes certain discrete tax items including, but not limited to: income tax expenses or benefits that are not related to operating results in the current year; tax adjustments associated with fluctuations in foreign currency remeasurement of certain foreign operations; certain changes in estimates of tax matters related to prior fiscal years; certain changes in the realizability of deferred tax assets and related accounting impacts; and changes in tax law. Management believes excluding these discrete tax items assists investors and securities analysts in understanding the tax provision and the effective tax rate related to operating results thereby providing investors with useful supplemental information about the company's operational performance. The income tax expense/(benefit) on special charges/(income) is determined using the applicable rates in the taxing jurisdictions in which the special charge or income occurred and includes both current and deferred income tax expense/(benefit) based on the nature of the Non-GAAP performance measure.

Three Months Ended
September 30,

Nine Months Ended
September 30,

(in Millions)

2024

2023

2024

2023

Non-GAAP tax adjustments:

Income tax benefit on restructuring and other charges and other corporate costs

$        (3.5)

$        (0.8)

$      (26.9)

$        (3.6)

Revisions to our tax liabilities due to finalization of prior year tax returns

(5.3)

(0.3)

(4.1)

(0.4)

Foreign currency remeasurement (net of valuation allowance) and other discrete items

(9.5)

(12.0)

38.4

(15.1)

Blue Chip Swap gain

1.3

1.0

10.5

2.2

Tax effect of impairment charges

(15.5)

—

(15.5)

—

Other discrete items

(2.2)

1.3

1.2

(0.2)

Total Non-GAAP tax adjustments

$      (34.7)

$      (10.8)

$          3.6

$      (17.1)

RECONCILIATION OF CASH (USED IN)/PROVIDED BY OPERATING ACTIVITIES (GAAP) TO 
ADJUSTED CASH PROVIDED BY OPERATIONS (NON-GAAP)
(Unaudited)

Nine Months Ended September 30,

(in Millions)

2024

2023 ⁽¹⁾

Cash (used in)/provided by operating activities (GAAP)

$                  (158.9)

$                    261.8

Restructuring and other charges

162.0

12.2

Argentina interest income

(1.1)

—

Adjusted cash provided by operations (Non-GAAP) ⁽²⁾

$                         2.0

$                    274.0

___________________

1.

Represents the results of predecessor Livent's operations for nine months ended September 30, 2023 which do not include the operations of Allkem.

2.

The Company believes that the Non-GAAP financial measure Adjusted cash provided by operations provides useful information about the Company's cash flows to investors and securities analysts. Adjusted cash provided by operations excludes the effects of transaction-related cash flows. The Company also believes that excluding the effects of these items from cash (used in)/provided by operating activities allows management and investors to compare more easily the cash flows from period to period.

RECONCILIATION OF LONG-TERM DEBT (GAAP) AND CASH AND CASH EQUIVALENTS (GAAP) TO 
NET DEBT (NON-GAAP)
(Unaudited)

(in Millions)

September 30, 2024

December 31, 2023 ⁽¹⁾

Long-term debt (including current maturities) (GAAP) ^(a)

$                       724.4

$                        302.0

Less: Cash and cash equivalents (GAAP)

(137.9)

(237.6)

Net debt (Non-GAAP) ⁽²⁾

$                       586.5

$                          64.4

___________________

1.

Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.

2.

The Company believes that the Non-GAAP financial measure Net debt provides useful information about the Company's cash flows and liquidity to investors and securities analysts.

a.

Presented net of unamortized discounts of $64.9 million and $22.2 million as of September 30, 2024 and December 31, 2023, respectively.

RECONCILIATION OF CASH AND CASH EQUIVALENTS (GAAP) TO ADJUSTED CASH AND DEPOSITS (NON-GAAP)

The following table provides a reconciliation of Arcadium Lithium's Cash and cash equivalents (GAAP) to Adjusted cash and deposits (Non-GAAP), on an unaudited basis for illustrative purposes. We define Adjusted cash and deposits (Non-GAAP) as Cash and cash equivalents, plus restricted cash in Other non-current assets, less Nemaska Lithium Cash and cash equivalents consolidated by Arcadium on a one-quarter lag, plus Nemaska Lithium Cash and cash equivalents not on a one-quarter lag. Our management believes that this measure provides useful information about the Company's balances and liquidity to investors and securities analysts. Such measure may not be comparable to similar measures disclosed by other companies because of differing methods used by other companies in calculating Adjusted cash and deposits. These measures should not be considered as a substitute for Cash and cash equivalents or other measures of liquidity reported in accordance with U.S. GAAP.

September 30, 2024

December 31, 2023 ⁽¹⁾

(in Millions)

(unaudited) ⁽¹⁾

Arcadium Lithium Cash and cash equivalents (GAAP)

$                     137.9

$                         237.6

Allkem Cash and cash equivalents

—

681.4

Add:

Restricted cash in Other non-current assets:

Project Loan Facility guarantee - Stage 2 of Olaroz Plant (SDJ)

18.1

24.6

Project Financing Facility guarantee - Sal de Vida (SDV) ⁽²⁾

—

32.5

Other

5.2

5.0

Less:

Nemaska Lithium Cash and cash equivalents as of June 30, 2024 and October
18, 2023, respectively, consolidated by Arcadium on a one-quarter lag

(42.0)

(133.5)

Arcadium Lithium, excluding Nemaska Lithium

119.2

847.6

Nemaska Lithium Cash and cash equivalents not on a one-quarter lag ⁽³⁾

12.2

44.2

Adjusted cash and deposits (Non-GAAP) ⁽⁴⁾

$                     131.4

$                         891.8

_________________

1.

This unaudited information of the combined company as of December 31, 2023 is for illustrative purposes and was derived from the historical consolidated financial information of Livent, Allkem and Nemaska Lithium.

2.

On May 30, 2024, SDV 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 Project Financing Facility in its entirety.

3.

The presentation reflects NLI's actual balance at that date, not on a one-quarter lag. This differs from Nemaska Lithium cash and cash equivalents included in Arcadium Lithium's condensed consolidated balance sheet as of September 30, 2024 of $42 million, representing NLI's balance as of June 30, 2024 as we consolidate NLI on a one-quarter lag. In the third quarter of 2024, the Company contributed cash of $43.9 million to Nemaska Lithium which, due to one-quarter lag reporting, is not yet recorded in our consolidation of Nemaska. The balance is recorded to Other assets - noncurrent because the cash is expected to be used by Nemaska primarily for capital expenditures. IQ contemporaneously made an equal contribution in the third quarter of 2024 which, due to one-quarter lag reporting, is not recorded in our consolidation of Nemaska. 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.

4.

$124.6 million and $176.9 million is required to be reserved or restricted at September 30, 2024 and December 31, 2023, respectively, to provide collateral or cash backing for guarantees primarily on Allkem debt facilities, including $23.3 million and $62.1 million at September 30, 2024 and December 31, 2023, respectively, in Other non-current assets in our condensed consolidated balance sheet.

ARCADIUM LITHIUM PLC
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)

(in Millions)

September 30, 2024

December 31, 2023 ⁽¹⁾

Cash and cash equivalents

$                                137.9

$                           237.6

Trade receivables, net of allowance of approximately $0.1 in 2024 and
$0.3 in 2023

90.2

106.7

Inventories

389.6

217.5

Other current assets

247.9

86.4

Total current assets

865.6

648.2

Investments

40.0

34.8

Property, plant and equipment, net of accumulated depreciation of
$345.5 in 2024 and $269.1 in 2023

7,249.2

2,237.1

Right of use assets - operating leases, net

54.8

6.8

Goodwill

1,293.2

120.7

Other intangibles, net

64.2

53.4

Deferred income taxes

48.2

1.4

Other assets

389.4

127.7

Total assets

$                          10,004.6

$                        3,230.1

Total current liabilities

735.3

268.6

Long-term debt

436.0

299.6

Contract liabilities - long-term

251.2

217.8

Other long-term liabilities

1,448.2

160.3

Total Arcadium Lithium plc shareholders' equity

6,296.1

1,784.2

Noncontrolling interests

837.8

499.6

Total liabilities and equity

$                          10,004.6

$                        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.

ARCADIUM LITHIUM PLC
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

Nine Months Ended September 30,

(in Millions)

2024

2023 ⁽¹⁾

Cash (used in)/provided by operating activities

$                (158.9)

$                  261.8

Cash used in investing activities

(129.8)

(315.5)

Cash provided by/(used in) financing activities

203.1

(21.5)

Effect of exchange rate changes on cash

(14.1)

(1.2)

Decrease in cash and cash equivalents

(99.7)

(76.4)

Cash and cash equivalents, beginning of period

237.6

189.0

Cash and cash equivalents, end of period

$                  137.9

$                  112.6

___________________

1.

Represents the results of predecessor Livent's operations for nine months ended September 30, 2023 which do not include the operations of Allkem.

ARCADIUM LITHIUM PLC
LONG-TERM DEBT
(Unaudited)

Interest Rate Percentage

Maturity
Date

September 30,
2024

December 31,
2023 ⁽¹⁾

(in Millions)

SOFR
borrowings

Base rate
borrowings

Revolving Credit Facility

6.70 %

8.75 %

2027

$           99.0

$                 —

4.125% Convertible Senior Notes due 2025

4.125 %

2025

245.8

245.8

Transaction costs - 2025 Notes

(1.2)

(2.4)

Nemaska - Prepayment agreement - tranche 1 ⁽²⁾

8.9 %

75.0

75.0

Discount - Prepayment agreement

(16.2)

(19.8)

Nemaska - Prepayment agreement - tranche 2 ⁽²⁾

9.4 %

150.0

—

Discount - Prepayment agreement

(47.5)

—

Nemaska - Other

0.5

3.4

Debt assumed in Allkem Livent Merger ⁽³⁾

Project Loan Facility - Stage 2 of Olaroz Plant

2.61 %

2029

135.0

—

Affiliate Loans with TTC

15.29 %

2030

81.5

—

Affiliate Loan with TLP

10.34 %

2026

2.5

—

Total debt assumed in Allkem Livent Merger

219.0

—

Subtotal long-term debt (including current maturities)

724.4

302.0

Less current maturities

(288.4)

(2.4)

Total long-term debt

$         436.0

$           299.6

________________________

1.

Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.

2.

Represents 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 September 10, 2024, SDJ paid the outstanding principal balance of $9.1 million to repay Stage 1 of the Olaroz Plan Project Loan Facility in its entirety. On May 30, 2024, SDV 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 Project Financing Facility in its entirety.