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                                                                          
美国
证券交易委员会
华盛顿特区20549
_______________________________________________________________________
 表格 10-Q
_______________________________________________________________________
☒根据1934年证券交易法第13或15(d)节提交的季度报告
截至季度结束日期的财务报告2024年9月30日
or
☐根据1934年证券交易法第13或第15(d)条款的过渡报告
过渡期从______到______
委员会文件号 001-38694
__________________________________________________________________________
ARCADIUm LITHIUm PLC
(根据其章程规定的注册人准确名称)
__________________________________________________________________________ 
领地 新泽西
 98-1737136
（国家或其他管辖区的
公司成立或组织）		 （IRS雇主
唯一识别号码）
1818 Market StreetGateway Hub 12楼套房
 2550号套房香农机场之家
费城故事, 宾夕法尼亚州
克莱尔郡香农
美国爱尔兰
19103邮编：V14 E370
（总部地址）（邮政编码）
215-299-5900
353-1-6875238
(注册人电话号码，包括区号)
__________________________________________________________________________
根据法案第12（b）节注册的证券：
每一类的名称交易标志在其上注册的交易所的名称
普通股票，每股面值为1.00美元股票代码ALTM请使用moomoo账号登录查看New York Stock Exchange
请打勾表示注册人已在过去12个月内（或注册人要求提交此类报告的较短期间内）提交了《1934年证券交易法》第13或15（d）条要求提交的所有报告，并且在过去90天内一直受到此类提交要求的规定。Yes  ☒否☐
请勾选以下内容。申报人是否已在过去12个月内（或申报人需要提交此类文件的时间较短的期间内）逐个以电子方式提交了根据规则405提交的互动数据文件。这章的交易中规定。    Yes  ☒    否  ☐
请用复选标记表示注册人是大型快速提交者、快速提交者、非快速提交者、较小的报告公司还是新兴增长公司。请参阅《交易所法》第120亿.2条中对"大型快速提交者"、"快速提交者"、"较小的报告公司"和"新兴增长公司"的定义。

                                                                                       
大型加速报告人 
☒

  加速文件申报人 
☐
非加速文件提交人 
☐
  更小的报告公司 
☐
新兴成长公司
☐
如果是新兴成长型公司，请在复选框中打勾，以确定注册人是否选择不使用在1934年证券交易法第13(a)条项下提供的任何新的或修订的财务会计准准则的延长过渡期。
☐
☐


请勾选以下内容。申报人是否是外壳公司（根据证券交易法规则12b-2定义）。    是  ☐没有☒
截至2024年11月6日，公司已发行 1,075,630,109 每股面值为1.00美元的普通股。


ARCADIUm LITHIUm PLC
指数
 
 
不。
压缩合并现金流量表 - 有九起类似诉讼针对JAVELIN的要约收购和合并被提起，称违反信托责任，寻求公正补偿，包括但不限于，禁止交易的达成、撤销、解除已经交易的事项，以及发送费用、补贴成本，包括合理的律师费和费用。唯一的佛罗里达州诉讼从未向被告送达，该案件于2017年1月20日自愿撤回并关闭。2016年4月25日，马里兰法院颁布了一项命令，将马里兰案件合并成一起诉讼，标题为JAVELIN Mortgage Investment Corp.股东诉讼（案号24-C-16-001542），并指定一个马里兰案件的律师作为临时首席联合法律顾问。2016年5月26日，临时首席律师提交了经修订的钒化铁质量投诉，声称违反信托责任的集体索赔，教唆和共谋违反信托责任以及浪费。2016年6月27日，被告提出了驳回合并修订集体投诉申请的动议，声称未陈述可以获得救济的规定。在2017年3月3日，听证会召开了驳回动议，法院保留了裁定。法院数次推迟动议陈述的裁定。2024年2月14日，法院颁布裁定，支持被告的驳回动议，并驳回所有原告的权利，无需上诉。在2024年3月11日，原告提出了对法院裁定的上诉通知。2024年7月3日，原告自愿撤回之前提出的上诉通知。 截至 九月 2024年和2023年（未经审计）






3

术语表
在本报告文本中出现以下术语和缩写时，它们的含义如下：
2025 年笔记2025年7月到期的4.125％可转换优先票据本金额为2.4575亿美元
AllkemAllkem Pty Ltd，一家在澳大利亚注册的专有股份有限公司，从 2024 年起是 Arcadium 的全资子公司，前身为 Allkem Limited，一家上市公司，于 2024 年 3 月 6 日从上市公司转换为专有有限公司
Allkem 交易协议2023 年 5 月 10 日由 Livent、Allkem、Arcadium、Merger Sub 和 Arcadium Lithium Intermedium IRL Limited（一家在爱尔兰注册和注册的私人公司 Arcadium Lithium Intermedium IRL Limited）于 2023 年 5 月 10 日签订的交易协议（于 2023 年 8 月 2 日、2023 年 11 月 5 日和 2023 年 12 月 20 日修订），其中规定了 Allkem Livent 的合并
Allkem Livent 合并根据Allkem交易协议，Livent和Allkem在股票换股交易中合并。该交易于 2024 年 1 月 4 日完成。
AOCL累计其他综合亏损
收购日期2024 年 1 月 4 日，Allkem Livent 合并交易完成的日期
Arcadium、Arcadium Lithium、“公司”、“我们” 或 “我们的”Arcadium Lithium plc，前身为Allkem Livent plc，一家根据泽西岛辖区法律注册成立的上市有限公司（最初注册为Lightning-A Limited，一家根据泽西岛辖区法律注册成立的私人有限公司），注册人
Arcadium NQSPArcadium 非合格储蓄计划
Arcadium 计划Arcadium Lithium plc 综合激励计划
ARO资产退休义务
ASC 321会计准则编纂主题 321-投资-股权证券
ASC 842会计准则编纂主题 842-租赁
买家力拓Bm子公司有限公司，一家根据英格兰和威尔士法律注册成立的私人有限公司，是力拓交易协议的当事方
CCAA《公司债权人安排法》
CRA加拿大税务局
信贷协议经修正后，规定了5亿美元的优先担保循环信贷额度
电子与电气探索与评估
复活节者预计的年度有效税率
ESMeSm iLiad, LLC 是 iLiad Technologies, LLC 的母公司，两者均为 EnergySource Materi
EV电动车
《交易法》经修订的 1934 年证券交易法
交换率根据Allkem交易协议，每股面值0.001美元的Livent普通股的每股均转换为获得2.406股Arcadium Lithium普通股的权利
FMC联邦海事委员会公司
iLiad集成锂吸附解吸
智商
Investissement Québec，一家由魁北克政府成立的公司，旨在支持总部位于魁北克的国际公司在魁北克投资
伊拉2022 年降低通货膨胀法案
JEMSEJujuy Energia Minera Sociedad del Estado，它拥有 SDJ 8.5% 的股份
LCE碳酸锂当量
LiventLivent Corporation 是特拉华州的一家公司，从 2024 年开始是 Arcadium 的全资子公司，也是 Arcadium 的前身
mDa
Minera del Altiplano SA，芬尼克斯业务在阿根廷的当地运营子公司
MdA 控股有限责任公司MdA Lithium Holdings LLC，一家特拉华州有限责任公司，也是 Arcadium 的全资子公司，拥有 MdA 94.9% 的股份
合并子公司特拉华州的一家公司 Lightning-A Merger Sub, Inc.
奈良哈工厂我们在日本奈良哈的氢氧化锂制造工厂，通过对TLC的投资，我们拥有该工厂49％的所有权和75％的经济权益。TLC是一家按权益会计法核算的未合并子公司
4

Nemaska 锂矿 或 NLI
Nemaska 锂矿公司，一家尚未进入生产阶段，注册地在加拿大魁北克的非上市锂公司
Nemaska 锂矿项目
通过我们的子公司QLP，在其中我们持有NLI 50%的股权，我们正在发展Nemaska 锂矿项目，该项目将包括魁北克的James Bay 地域板块的Whabouchi 矿山和浓缩厂，以及魁北克的Bécancour 的锂羟化工厂
Olaroz 工厂
我们在阿根廷胡胡伊的锂提取和半导体工厂，通过我们的子公司SDJ Pte 和SDJ 间接拥有66.5%的股权
母公司。
力拓西部控股有限公司是根据英格兰和威尔士法律设立的私人有限公司，与买方和Arcadium一起签署了力拓交易协议
PRSU基于业绩的受限制的股份单位
QLP
Arcadium的全资子公司Québec Lithium Partners (UK) Limited，在Nemaska锂矿项目中拥有50％的股权
循环授信设施根据信贷协议提供的Arcadium的50000万美元高级担保循环授信额度
力拓母公司和买方，共同为力拓（Rio Tinto plc）
力拓交易力拓以每股5.85美元的价格现金收购阿卡迪姆的所有普通股（包括由CDI代表的股份），根据力拓交易协议，预计将于2025年中期关闭，需满足结算条件
力拓交易协议2024年10月9日由母公司、买方和阿卡迪姆签署的交易协议，旨在规划力拓交易
每个 RSU 表示有权获得一股公司普通股或者相同价值的股票，公司有自主选择权。在董事会职务退休当天，RSU 将产生效力，只要任职时间至少为两年。该公司根据其限制性股票计划授予了 RSU。受限制的股份单位
RVO批准和授予订单
SDJ私人有限公司Sales de Jujuy私人有限公司，Allkem在新加坡拥有72.68%的子公司，拥有SDJ 91.5%的股份
SDJSales de Jujuy S.A.，Allkem在阿根廷间接拥有66.5%的运营子公司，经营Olaroz工厂
SDV
Galaxy Lithium（SAL DE VIDA）S.A.，Allkem在阿根廷间接拥有100%的子公司，正在Sal de Vida项目开发锂矿提取和制造设施
SEC证券交易委员会
证券法1933年证券法, 经修订版
SOFR担保隔夜融资利率
TLCToyotsu锂矿公司
TLP位于TTC旗下的Toyotsu锂矿私人有限公司，对SDJ Pte持有27.32%的股权
TTC丰田通商株式会社
美国通用会计准则美国通用会计准则
增值税增值税
5


第一部分 - 财务信息
 
项目1.——基本报表
在本季度10-Q报告（“10-Q表格”）中，截至2024年9月30日和2024年9月30日为止的公司业绩包括Allkem的运营和财务状况。由于Arcadium Lithium plc是于2024年1月4日合并的Livent的继任公司，我们将前身Livent的2023年9月30日和2023年12月31日为止的三个月和九个月的业务结果呈现出来，不包括Allkem的财务状况或运营。有关Allkem Livent合并的更多信息，请参阅注释4。

ARCADIUm LITHIUm PLC
简明合并利润表
 
截至9月30日的三个月截至9月30日的九个月
2024
2023 (1)
2024
2023 (1)
（以百万计，每股数据除外）（未经审计）
收入$203.1 $211.4 $718.8 $700.7 
销售成本146.9 83.6 475.8 258.4 
毛利率56.2 127.8 243.0 442.3 
减值费用51.7 — 51.7 — 
销售、一般和管理费用39.7 13.2 95.1 47.1 
研究和开发费用1.2 1.3 3.8 3.3 
重组和其他费用9.7 8.7 111.4 35.0 
总成本和支出249.2 106.8 737.8 343.8 
（亏损）/扣除权益前的运营收益（未合并子公司的净亏损）、利息支出/（收益）、净额、债务清偿损失和其他（收益）/亏损 (46.1)104.6 (19.0)356.9 
未合并子公司净亏损中的权益5.9 6.7 5.9 22.0 
利息支出/（收入），净额1.5 — (18.8)— 
债务清偿损失— — 1.1 — 
其他（收益）/损失(44.8)1.2 (202.0)(5.3)
（亏损）/所得税前的运营收入(8.7)96.7 194.8 340.2 
所得税（福利）/费用(33.4)9.3 55.7 47.8 
净收入24.7 87.4 139.1 292.4 
归属于非控股权益的净收益8.6 — 21.7 — 
归属于Arcadium锂业公司的净收益$16.1 $87.4 $117.4 $292.4 
普通股每股基本收益$0.01 $0.20 $0.11 $0.68 
摊薄后每股普通股收益$0.01 $0.17 $0.10 $0.58 
已发行普通股的加权平均值——基本1,075.1 432.4 1,067.8 432.3 
已发行普通股的加权平均值——摊薄 1,143.6 503.6 1,136.4 503.5 
_______________________________
1.截至2023年9月30日三个月和九个月的基本和稀释每股普通股收益以及基本和稀释的加权平均普通股份额 - 基本和稀释金额代表前身livent，并已调整以反映 2.406 交易比率。代表前身livent截至2023年9月30日三个月和九个月的业绩，其中不包括Allkem的业务。


随附说明是这些简明合并财务报表的一部分。
6

ARCADIUm LITHIUm PLC
综合收益简明合并报表
 
截至9月30日的三个月截至9月30日的九个月
2024
2023 (1)
2024
2023 (1)
（数以百万计）(未经审计)
净利润$24.7 $87.4 $139.1 $292.4 
其他综合收益/（亏损），净额（税后）：
外币调整:
期间发生的外币翻译收入/(损失)13.4 (1.8)(17.1)(1.3)
外币货币兑换调整总额13.4 (1.8)(17.1)(1.3)
衍生工具：
未实现对冲（亏损）/获利，税后净额小于 零, $0.2, $(0.1）以及零
(0.1)(0.6)0.2 — 
包括在净利润中的递延亏损的再分类，税后净额小于 零, $(0.1), 零和$0.1)
0.1 0.20.1 0.2 
衍生工具总额— (0.4)0.3 0.2 
其他综合收益/(亏损)，税后净额13.4 (2.2)(16.8)(1.1)
综合收益38.1 85.2 122.3 291.3 
归属于非控股权益综合收益11.0 — 24.1 — 
归属于Arcadium锂矿有限公司的综合收益$27.1 $85.2 $98.2 $291.3 
______________________
1.代表前任公司Livent截至2023年9月30日三个月和九个月的运营结果，不包括Allkem的运营。


























随附说明是这些简明合并财务报表的一部分。
7

ARCADIUm LITHIUm PLC
简明合并资产负债表
(以百万为单位，除股份和票面价值数据外)2024年9月30日
2023年12月31日。(1)
资产(未经审计)
流动资产
现金及现金等价物$137.9 $237.6 
应收账款，扣除约$的准备金0.1的。0.3在2023年被Men's Journal评为美国排名第一的健身房连锁店
90.2 106.7 
净存货389.6 217.5 
预付和其他流动资产247.9 86.4 
总流动资产865.6 648.2 
投资40.0 34.8 
减：累计折旧净额为 $5,350 的固定资产和设备345.5的。269.1在2023年被Men's Journal评为美国排名第一的健身房连锁店
7,249.2 2,237.1 
商誉1,293.2 120.7 
其他无形资产净额64.2 53.4 
延迟所得税48.2 1.4 
使用权资产-经营租赁，净额 54.8 6.8 
其他389.4 127.7 
资产总额$10,004.6 $3,230.1 
负债和股东权益
流动负债
短期借款和长期债务的流动部分$288.4 $2.4 
应付账款，交易和其他151.0 115.4 
应计负债及其他负债175.5 136.8 
合同负债 - 短期55.1 4.4 
经营租赁负债-流动 6.8 1.3 
所得税58.5 8.3 
流动负债合计735.3 268.6 
长期负债436.0 299.6 
经营租赁负债-长期49.7 5.6 
环保母基7.4 7.0 
延迟所得税1,299.1 126.4 
合同负债 - 长期251.2 217.8 
其他长期负债92.0 21.3 
承诺和或有负债（附注20）
— — 
总流动负债和长期负债2,870.7 946.3 
股东权益
Arcadium 锂矿plc股东权益：
普通股份； $1.00每股面值; 5,000,000,000 1,075,427,002 看跌 433,059,946发行股票;1,075,164,487 看跌 432,796,277 截至2024年9月30日和2023年12月31日为止的未清项
0.1 0.1 
超过普通股面值的资本 5,581.7 1,170.4 
未分配利润 781.9 664.5 
累计其他综合损失(66.6)(49.8)
库藏股，按成本计量； 262,515 看跌 263,669 截至2024年9月30日和2023年12月31日，股份分别为
(1.0)(1.0)
总Arcadium锂矿股东权益6,296.1 1,784.2 
非控制权益837.8 499.6 
股东权益总计7,133.9 2,283.8 
负债和所有者权益总额$10,004.6 $3,230.1 
_________________________
1.代表了前身Livent截至2023年12月31日的财务状况，不包括Allkem的财务状况。
附注是这些简明综合财务报表的一部分。
8

ARCADIUm LITHIUm PLC
现金流量表简明综合报表
截至9月30日的九个月
2024
2023 (1)
 （数以百万计）
(未经审计)
经营活动产生的现金（使用）：
净利润$139.1 $292.4 
调整净利润以将现金（使用）/经营活动产生的现金相调解：
折旧和摊销77.4 21.5 
重组和其他费用(50.6)22.5 
减值损失51.7 — 
延迟所得税(152.9)(4.8)
基于股份的补偿9.1 6.2 
信托基金证券投资变动(1.2)(0.2)
债务清偿损失1.1 — 
联营公司净损失5.9 22.0 
其他收益，蓝筹股交易(64.9)(21.4)
其他非现金调整0.3 (0.3)
经营性资产和负债变动:
交易应收账款净额83.3 29.9 
存货(48.1)(56.2)
应付账款，交易和其他(146.7)(33.6)
递延薪酬的变化 2.1 1.2 
合同负债 - 短期50.7 (5.8)
合同负债 - 长期(22.0)— 
所得税(27.7)(11.6)
预付款及其他流动资产和其他资产的变化(97.4)4.9 
应付及其他流动负债和其他长期负债的变化31.9 (4.9)
经营活动中的现金流量净额(158.9)261.8 
投资活动产生的现金流量：
资本支出(2)
(778.7)(239.4)
蓝筹股交换收入，减少购买成本 64.9 21.4 
收购现金及现金等价物 - Allkem Livent合并681.4 — 
在途投资 - Nemaska锂矿 (3)
(43.9)— 
投资未纳入合并范围的关联公司 (4)
(40.7)(85.4)
其他投资活动(12.8)(12.1)
投资活动使用的现金(129.8)(315.5)
筹资活动提供的现金/(使用的现金)
循环信贷额度的融资款项 222.0 — 
循环信贷额度的偿还款项(123.0)— 
项目贷款款项的偿还(83.2)— 
客户供应协议预付款的收入款项150.0 — 
非控股权益的资本注入 - Nemaska 锂矿39.1 — 
向海关部门支付存款— (21.7)
其他融资活动(1.8)0.2 
筹资活动提供的现金203.1 (21.5)
汇率变动对现金及现金等价物的影响(14.1)(1.2)
现金及现金等价物减少(99.7)(76.4)
现金及现金等价物期初余额237.6 189.0 
现金及现金等价物期末余额$137.9 $112.6 
_________________________
1.代表了livent的前身运营的结果，截至2023年9月30日，不包括Allkem的运营。
9


ARCADIUm LITHIUm PLC
现金流量表 (续)
截至9月30日的九个月
2024
2023 (1)
现金流的补充披露：(未经审计)
缴纳所得税的现金支付，扣除退款$136.0 $55.3 
现金支付的利息 (2)
25.1 11.3 
现金支付的重组和其他费用162.0 12.2 
应计资本支出166.5 39.5 
根据ASC 842记录的经营租赁使用权资产和租赁负债1.0 0.9 
____________________
1.代表了livent的前身运营的结果，截至2023年9月30日，不包括Allkem的运营。
2.截至2024年和2023年9月30日的九个月，资本化的利息支出为$17.1 百万美元和美元12.6截至2024年和2023年9月30日资本化的利息现金支付为$16.6百万美元和$11.3百万。
3.代表公司在2024年第三季度投入Nemaska锂矿的现金，由于报告有一个季度的滞后，因此尚未在我们对Nemaska的合并报表中记录。余额被记录为其他资产 - 非流动资产，因为这笔现金预计将主要用于Nemaska的资本支出。有关详细信息，请参见第9条说明。
4.2023年10月18日，我们开始合并Nemaska锂矿，见注释9 有关详细信息。





















随附说明是这些简明合并财务报表的一部分。
10












ARCADIUm LITHIUm PLC
压缩的合并股权声明
(未经审计)
Arcadium股东权益(1)
（以百万计，除每股数据外）
普通股，$1.00 每股面值
超过面值的资本未分配利润累计其他综合损失库藏股非控制权益总计
2023年12月31日的余额$0.1 $1,170.4 $664.5 $(49.8)$(1.0)$499.6 $2,283.8 
净利润— — 15.6 — — 4.3 19.9 
Allkem livent合并— 4,390.4 — — — 275.0 4,665.4 
股份补偿计划 — 15.8 — — — — 15.8 
用于税金和期权成本而被扣留的股份-普通股发行— (2.6)— — — — (2.6)
对冲收益净额，扣除所得税— — — 0.2 — — 0.2 
外币翻译调整— — — (20.2)— — (20.2)
2024年3月31日的余额$0.1 $5,574.0 $680.1 $(69.8)$(1.0)$778.9 $6,962.3 
净利润— — 85.7 — — 8.8 94.5 
来自非控股股东的资本贡献— — — — — 39.1 39.1 
分享补偿计划— 3.9 — — — — 3.9 
净对冲收益，扣除所得税— — — 0.1 — — 0.1 
外币翻译调整— — — (10.3)— — (10.3)
2024年6月30日的余额$0.1 $5,577.9 $765.8 $(80.0)$(1.0)$826.8 $7,089.6 
净利润— — 16.1 — — 8.6 24.7 
分成补偿计划— 3.8 — — — — 3.8 
净套期损失，扣除所得税— — — (0.1)— — (0.1)
延期套期损失再分类，扣除税后— — — 0.1 — — 0.1 
外币翻译调整— — — 13.4 — 2.4 15.8 
2024年9月30日余额$0.1 $5,581.7 $781.9 $(66.6)$(1.0)$837.8 $7,133.9 
11












Arcadium股东权益 (1)
（以百万计，除每股数据外）
普通股，$1.00 每股面值
超过票面的资本 未分配利润累计其他全面收益亏损库藏股非控制权益总计
截至2022年12月31日的余额$0.1 $1,160.4 $334.4 $(51.0)$(0.9)$— $1,443.0 
净利润— — 114.8 — — — 114.8 
股份补偿计划 — 1.9 — — — — 1.9 
为缴税而保留的股份-普通股发行— (0.5)— — — — (0.5)
股票期权的行使— 0.1 — — — — 0.1 
对冲收益净额，扣除所得税— — — 0.2 — — 0.2 
外币翻译调整— — — 1.5 — — 1.5 
截至2023年3月31日的余额$0.1 $1,161.9 $449.2 $(49.3)$(0.9)$— $1,561.0 
净利润— — 90.2 — — — 90.2 
分享补偿计划— 2.1 — — — — 2.1 
期权行权 — 0.3 — — — — 0.3 
净套期保值收益，扣除所得税— — — 0.4 — — 0.4 
外币翻译调整— — — (1.0)— — (1.0)
截至2023年6月30日的余额$0.1 $1,164.3 $539.4 $(49.9)$(0.9)$— $1,653.0 
净利润— — 87.4 — — — 87.4 
股份酬劳计划— 2.2 — — — — 2.2 
期权的行使— 0.2 — — — — 0.2 
净套期损失，扣除所得税— — — (0.6)— — (0.6)
税后对未实现对冲损失进行重新分类净额— — 0.2 — — 0.2 
外币翻译调整— — — (1.8)— — (1.8)
2023年9月30日的余额$0.1 $1,166.7 $626.8 $(52.1)$(0.9)$— $1,740.6 
__________________________
1.代表了前身livent截至2023年9月30日和2023年12月31日的三个和九个月的运营结果，不包括Allkem的财务状况或经营情况。






















附带的说明是这些简明合并财务报表不可或缺的一部分。
12

ARCADIUm LITHIUm PLC
基本报表注释（未经审计）

注1： Black Stone Minerals有限合伙公司（“BSM”或“合伙公司”）是一家公开交易的特拉华州有限合伙公司，拥有石油和天然气矿物权益，这构成了绝大部分资产基础。本合作公司的资产也包括非参与的专有权利和超限专有权益。这些权益，基本上是不承担费用的，统称为“矿物和专有权益”。合作公司的矿物和专有权益位于美国本土的各个州，包括所有主要陆上产油盆地。合作公司还拥有特定石油和天然气属性的非经营工作权益。合作公司的普通单位在纽约证券交易所上市，代码为“BSM”。
背景和运营性质
Arcadium Lithium plc（"Arcadium"、"Arcadium Lithium"、"我们"、"公司"或"我们的"）是一家根据泽西岛法律成立的上市公司。2024年1月4日，Arcadium Lithium完成了预先宣布的Allkem livent合并，此次合并使得特拉华州公司Livent Corporation（"Livent"）和澳大利亚股份有限公司Allkem Limited（"Allkem"）成为Arcadium Lithium的全资子公司。2024年1月4日，公司股票在纽约证券交易所开始以交易标的ALTm进行交易。详情请参见第4条，Allkem livent合并。
虽然Arcadium锂矿是一家由Allkem与lavent合并而成的新公司，但我们的公司拥有丰富的创新传统和长期、经过验证的安全可持续生产锂矿化合物的历史。我们实现了垂直一体化，拥有全球货币布局和行业领先的锂矿生产端到端能力，包括硬岩开采、传统的池塘提盐、直接锂盐提取和锂矿化学品制造。
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.
Pending Rio Tinto Transaction
On October 9, 2024, Arcadium Lithium entered into the Transaction Agreement (the "Rio Tinto Transaction Agreement") with Rio Tinto Western Holdings Limited, a private limited company incorporated under the laws of England & Wales ("Parent"), and Rio Tinto BM Subsidiary Limited, a private limited company incorporated under the laws of England & Wales ("Buyer").
The Rio Tinto Transaction Agreement provides that pursuant to a scheme of arrangement (the "Scheme") under the Companies (Jersey) Law 1991, at the effective time of the Scheme, all of the ordinary shares, par value $1.00 per share, of the Company (the "Company Shares"), including the Company Shares represented by CHESS depositary interests issued by the Company and listed on the securities exchange operated by ASX Limited, then outstanding will be transferred from the shareholders of the Company to Buyer (or an affiliate of Buyer) in exchange for the right to receive an amount in cash, without interest, equal to $5.85 per Company Share (the "Rio Tinto Transaction").
If the Rio Tinto Transaction is consummated, the Company’s ordinary shares will be delisted from the New York Stock Exchange and the Company’s registration under the Exchange Act of 1934, as amended, will be terminated as promptly as practicable after the effective time of the Rio Tinto Transaction, and the quotation on the Australian Securities Exchange Ltd of the CHESS depositary interests issued by the Company will be suspended immediately prior to the effective time of the Rio Tinto Transaction.
The closing of the Rio Tinto Transaction is subject to customary closing conditions under the Rio Tinto Transaction Agreement, including, among others: the approval of the Scheme by the Company’s shareholders; all applicable governmental consents under specified antitrust and investment screening laws having been obtained and remaining in full force and effect and all applicable waiting periods having expired, lapsed or been terminated (as applicable); no governmental entity of a competent jurisdiction having issued any order that is in effect and restrains, enjoins or otherwise prohibits the consummation of the Rio Tinto Transaction and no governmental entity having jurisdiction over any party having adopted any law that is in effect and makes consummation of the Rio Tinto Transaction illegal or otherwise prohibited; the representations and warranties of each of the Company and Parent being true and correct to the extent required by, and subject to the applicable materiality standards set forth in, the Rio Tinto Transaction Agreement; each of the Company, Parent and Buyer having in all material respects performed the obligations and complied with the covenants required to be performed or complied with by it under the
13

ARCADIUm LITHIUm PLC
基本报表注释（未经审计）
力拓交易协议；并且在力拓交易协议中没有发生重大不利影响（如在力拓交易协议中定义）。 关于这些条件是否会得到满足或豁免的时间安排是不确定的。此外，其他事件可能会介入延迟或导致力拓交易未能完成。 力拓交易目前预计将于2025年年中完成，前提是满足交割条件。
如果力拓交易在2025年10月9日之前未结束(视情况延长至2026年4月9日以获取反垄断或投资审查法律或其他监管批准)，公司或母公司可选择终止力拓交易协议。力拓交易协议规定，如果力拓交易协议被终止，公司将支付$XXX万终止费用给力拓，情况包括公司终止力拓交易协议与董事会改变其建议有关，以及力拓终止力拓交易协议因公司董事会改变其建议。终止费用还可能由公司支付，如果在终止后十二个月内公司在某些情况下与另一交易达成协议。然而，如果一方对力拓交易协议有重大违约且该违约是导致未在该日期之前的结束失败的主要原因，则公司或母公司可选择终止力拓交易协议。公司或母公司可能会在某些其他情况下选择终止力拓交易协议，包括如果公司股东未在股东大会上批准力拓交易，公司和母公司可以在股东批准之前或之后的任何时间相互决定终止力拓交易协议。200如果力拓交易在2025年10月9日之前未结束(视情况延长至2026年4月9日以获取反垄断或投资审查法律或其他监管批准)，公司或母公司可选择终止力拓交易协议。力拓交易协议规定，如果力拓交易协议被终止，公司将支付XXX万美元终止费用给力拓，情况包括如果公司终止力拓交易协议与董事会改变其建议相关，以及如果力拓终止力拓交易协议是因公司董事会改变其建议。公司在一些情况下可能也需支付终止费用，如果在终止后十二个月内公司达成替代交易协议。但是，如果公司或母公司严重违约力拓交易协议并且该违约是导致未于该日期之前结束是主要原因，则公司或母公司可能选择终止力拓交易协议。公司或母公司可能在另一些情况下选择终止力拓交易协议，包括如果公司股东未在股东大会上批准力拓交易，此外，在公司股东批准前或后，公司和母公司可以随时共同决定终止力拓交易协议。
前述的力拓交易协议摘要及其所设想的力拓交易，并不意味着完整，并且完全受限于力拓交易协议的条款和条件，请参阅已提交本10-Q表格的附件2.1上的力拓交易协议备份。

注2：重大会计政策及相关财务信息
在本10-Q表格中，截至2024年9月30日和为期三个和九个月截至2024年9月30日的公司业绩分别包括Allkem的经营和财务状况。由于Arcadium 锂矿 公司是Allkem Livent合并中Livent的继任公司，我们呈现了2013年9月30日和2023年12月31日为期三个和九个月的前身Livent的经营业绩，不包括Allkem的财务状况或经营。有关Allkem Livent合并的详细信息，请参阅附注4。
附注的简明综合财务报表是根据证券交易委员会（“SEC”）的要求编制的用于中期报告。根据这些规定，某些根据美国通用会计准则通常要求的注释或其他财务信息已经在这些中期财务报表中被简化或省略。 本报告中包含的财务报表反映了经过管理层认为对于公平呈现我们截至2024年9月30日和2023年12月31日的简明综合资产负债表，截至2024年9月30日和2023年的三个和九个月的简明综合经营结果，简明综合损益表以及简明综合权益变动表，以及截至2024年9月30日和2023年的九个月的简明综合现金流量的所有正常和经常性调整。所有公司间交易和余额在合并中已被消除。对于我们控制但持股少于100％的实体，我们将少数股权记录为非控股权益。所报告的中期业务运营结果未必能反映全年预期结果。因此，应同时阅读包含在我们截至2023年12月31日的财年年度报告10-K中的年度综合财务报表和相关附注（“2023年度10-K年度报告”）。
重新分类
为符合简明综合财务报表和附注中的当前期间呈现，某些之前期间的余额已重新分类。
自2024年4月1日起，我们开始将外币再计量的收益和损失作为其他收益/损失的一部分呈现。在2024年4月1日之前，我们将外币再计量所导致的收益和损失作为营业成本和重组及其他费用的组成部分纳入了简明的综合损益表中。 以下表格总结了截至2023年9月30日和2023年3月31日的三个月及九个月重新编制的账户，以符合当前期间呈现。
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ARCADIUm LITHIUm PLC
财务报表附注（未经审计）—（续）
截至9月30日的三个月截至9月30日的九个月
20232023
（数以百万计）之前的呈现损失/(收益) 重新分类 重新构建的呈现之前的呈现损失/(收益) 重新分类重新制作演示文稿
销售成本$94.9 $11.3 $83.6 $274.8 $16.4 $258.4 
重组及其他费用8.6 (0.1)8.7 34.7 (0.3)35.0 
其他(收益)/损失(10.0)11.2 1.2 (21.4)16.1 (5.3)
截至2021年3月31日的三个月
2024
（数以百万计）之前的演示(收益)/损失 重新分类重新编排的演示
销售成本$116.8 $(38.0)$154.8 
重组及其他费用83.6 3.8 79.8 
其他(收益)/损失(43.1)(34.2)(77.3)

分段信息
2024年1月，Arcadium锂矿完成了Allkem Livent合并。有关更多详情，请参见附注4，Allkem Livent合并。在Allkem Livent合并结束后，我们目前作为 一个 可报告部门，基于我们的产品和服务之间的共性。随着整合的深化，我们将继续评估这一决定。
收入确认
产品销售的营业收入在我们通过向客户交付承诺的商品来满足履约义务时确认，即当商品的控制权转移给客户时。付款条款通常在区间内 20 至 180日。
在确定货物的控制转移时间时，我们通常会评估货物所有权和风险转移，以及合同的装运条款等因素。
我们将运输和处理费用的开票金额记录为营业收入。 运输和处理产生的成本记录在销售成本中。 当我们在将控制权转移给客户后执行运输和处理活动（例如，在交付之前转移控制权时），它们被视为履行活动，并相应地，相关收入确认时，成本会计提入销售成本。
销售和使用税、增值税、以及在产生营业收入交易中征收的某些特定货币税款的开票金额以净额呈现，并在简明合并利润表中从营业收入中排除。我们会记录负债，直到汇入各自的税务机构。
我们通过向客户转让商品和服务来履行我们的义务。履行的时间有时与从客户那里收到相关对价的时间不同，因此导致合同资产或负债的确认。这可能源自我们某些客户合同的临时定价，或者客户在我们完成相关履行义务之前支付对价。临时定价会导致变量对价，我们通过使用预期价值方法估计这种变量对价，考虑到所有合理可得的信息，包括公开可得的价格预测。我们仅在很可能不会发生已确认营业收入金额显著反转的情况下，将变量对价纳入交易价格。
权益法投资
当我们将股权法下投资、承诺和额外投资（即贷款或预付款）的价值减少至零时，我们停止应用权益法。如果投资者随后报告净利润，当我们的分享等于暂停的损失时（即我们尚未确认的投资者净损失的份额），我们将恢复应用权益法。
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ARCADIUm LITHIUm PLC
财务报表附注（未经审计）—（续）
如果事实和情况表明投资价值的下降是除暂时性以外的任何情况，我们会确认一笔减值损失，金额等于账面价值超过权益法投资公允价值的数额。 在2024年9月30日结束的九个月内没有发生任何减值。
商誉
公司按照要求的当前会计准则对企业合并中获取的商誉和其他无形资产进行核算，要求商誉和无限寿命无形资产不进行摊销。
根据指引，通过比较报告单元的估计公允价值与相关账面价值来测试商誉减值。报告单元可以是营业业务板块，也可以是可获得离散财务信息并由业务管理部门定期审查的营业业务板块下一级别的实体。在执行商誉减值测试时，首先进行定性测试（"步骤0"），在该测试下评估定性因素，以判断报告单元的公允价值是否很可能低于其账面价值。定性因素可能包括但不限于经济状况、行业和市场考虑、成本因素、报告单元的整体财务表现以及其他实体和报告单元特定事件。如果经过评估这些定性因素后，判断很可能报告单元的公允价值低于账面价值，则执行定量测试（"步骤1"）。在步骤1中，使用贴现现金流模型估计公允价值。
商誉减值评估可能会导致我们记录的资产价值减少，进而对我们的财务状况和经营业绩产生重大不利影响。我们每年对商誉进行评估，或者在触发事件表明可能存在减值的情况下更频繁地进行评估。我们通过比较报告单元的净资产价值（包括商誉）与报告单元的公允价值在单元级别测试商誉。如果商誉的账面价值超过其公允价值，则商誉被视为减值。如果出现任何减值或相关费用情况，我们的财务状况和经营业绩可能会受到重大影响。例如，任何减值或相关费用可能是由公司股票价格持续下跌导致的；权益成本或债务成本由于与可比公司或可比收购估值相关的估值而增加；或未来现金流预期的前景恶化可能是由但不限于，竞争加剧、折现率变化、负面预测修订、受限计划或影响业务的适用法规变化引起的报告单元现金流预期的前景恶化等因素引起的。
矿山开发成本
矿山开发成本包括：a）在搜索涉矿概念、确定提取涉矿概念的技术可行性和商业可行性期间发生的勘探和评估（"E＆E"）支出；和b）剥离成本，用于清除露天矿中的覆土和废料，以便进入矿体。
公司在尚未建立E&E活动地点的确权和概率储量时，以成功努力基础将E&E支出资本化为房地产、租赁和设备（"PP&E"）。作为业务组合的一部分认可的E&E资产也将被资本化。所有其他E&E支出将被列支。
在开放式露天矿的开发过程中，发生在生产阶段之前的除去成本会被资本化为固定资产和设备费用。在采矿综合体存在多个露天矿并共用处理设施的情况下，这些预生产的除去成本会分别在每个露天矿中资本化。在露天矿的开发阶段，可能会发生微不足道的可销售物料的除去、生产和销售，并将分配与除去该物料相关的增量采矿成本。当生产出具有一定数量的可销售矿石时，露天矿的生产阶段就开始了。矿山生产阶段中发生的除去成本是可变生产成本，作为存货的一部分纳入，将在与存货销售收入相同的期间内确认为销售成本。
开采的资本开发成本按照已探明和可探明储量中估计可回收矿物的单位产量法摊销，并在矿体预计寿命内摊销。
矿产权益
矿产权益包括在生产、开发和勘探阶段的财产中获得的权益。矿产权益在收购日期以其公允价值计入资本，既可以作为单独的资产购买，也可以作为企业合并的一部分。在开发和勘探阶段的矿产权益在基础财产转为生产阶段之前不进行摊销，此时矿产权益按照预计可回收的已探明和可能储量通过单位生产法进行摊销。

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ARCADIUm LITHIUm PLC
财务报表附注（未经审计）—（续）
养老责任负债
公司根据ASC 410-20《资产退休义务》，会计处理资产退休义务（"AROs"）。我们以发生责任的现值记录AROs，如果可以合理估计结算日期。相关的AROs作为相关长期资产的账面价值的一部分进行资本化。在未来期间，责任应按其现值累积，并且资本化成本应在相关资产的预期寿命内摊销。我们还会根据时间流逝或原始估计的时间或金额的修订的变化调整责任。在长期资产养老时，我们会按照记录金额清偿责任。 详见附注14。
2024年9月30日和2023年12月31日的资产减值准备账面金额分别为$12.5 分别相比较。2024年9月30日止三个月和九个月的有效税率为$3.7 百万美元。这些金额已包含在我们的简明合并资产负债表中的应计及其他流动负债和其他长期负债中。
蓝筹股互换
我们在阿根廷的全资子公司使用美元作为其功能货币。阿根廷比索计价的货币资产和负债在每个资产负债表日按当时有效的官方货币汇率重新计量，这代表了可供外部商业（进口付款和出口收款）和金融付款的汇率，货币重新计量和其他交易收益和损失计入收益。2019年9月，阿根廷总统恢复了限制外汇购买的汇兑控制措施，旨在稳定阿根廷金融市场。因此，一个名为蓝筹股交易的合法交易机制在阿根廷出现，供所有个人或实体将美元转入和转出阿根廷。蓝筹股交易率是蓝筹股交易交易产生的隐含汇率。2024年上半年，美元通过蓝筹股交易方式转入阿根廷，我们通过购买美元和在阿根廷比索中出售阿根廷主权美元计价债券实现了收益。截至2024年9月30日止三个月和九个月的1000万美元盈利记录在我们的简明合并利润表中的其他（收益）/损失。14.4百万和$64.9截至2024年9月30日止的三个月和九个月的1000万美元盈利记录在我们的简明合并利润表中的其他（收益）/损失。
锂金属交易
2024年8月2日，Arcadium宣布收购Li-Metal Corp的锂矿部门。 这笔全现金 $11 百万美元的交易包括与锂金属生产相关的知识产权和实物资产，包括加拿大安大略省的试制生产设施。
Arcadium锂使用锂金属制造特种产品，包括高纯度锂金属（"HPM"）和LIOVIX®，一种专有的可印刷锂金属配方，用于主要电池应用和下一代电池。Arcadium锂还将锂金属加工成正丁基锂，以及用于医药、农业、电子和其他行业的其他锂矿特种化学品。

注3：最近发布和采纳的会计准则和监管事项
2023年12月，财务会计准则委员会(FASB)发布了ASU No. 2023-09， 所得税（主题740）：改进所得税披露。该标准要求上市的业务实体在每年披露税率调节表的特定类别，并为满足数量门限的调节项目提供其他信息（如果这些调节项目的影响相当于或大于将税前收入（或损失）与适用的法定所得税率相乘所得金额的5%）。它还要求所有实体每年披露按联邦、州和外国税种分解的所支付的所得税（扣除退款），以及按所支付的所得税（扣除退款）在个别司法管辖区分解的金额，当所支付的所得税（扣除退款）相当于或大于所支付的总所得税（扣除退款）的5%时。最后，该标准取消了要求所有实体披露未识别税务负债余额在未来12个月内合理可能变动范围的性质和估计，或声明无法估算范围的要求。该标准对公司自2026年1月1日开始的年度适用。可以提前采纳该标准。该标准应以前瞻性基础应用。允许追溯适用。公司目前正在评估该标准可能对其财务报表产生的影响。。这项ASU加强了现有的所得税披露，以更好地评估实体的经营和相关税务风险、税务规划和经营机会如何影响其税率和未来现金流的前景。该ASU适用于2024年12月15日后开始的年度。我们目前正在评估指导意见对我们的简明合并财务报表可能产生的影响。
2023年11月，FASB发布了ASU 2023-07，该更新通过增强重要板块支出的披露，改进了可报告板块的披露要求。这个更新中的修正应在合并财务报表中呈现的所有之前期间中进行追溯，适用于2023年12月31日后开始的财政年度和2024年12月31日后的财政年度内的中期期间。早期实施是允许的。公司目前正在评估该指引对其简明合并财务报表的潜在影响。 分部报告（主题 280）：报告服务部门（主题 280）变更披露方式，通过升级对意义重大的分部费用的披露来改进分部报告披露要求。该准则适用于 2023 年 12 月 15 日之后的财年和 2024 年 12 月 15 日之后的财年间隔期。该准则必须适用于财务报表中呈现的所有期间的追溯。该公司目前正在评估该标准对合并财务报表的影响。该ASU通过增加相关重要部门费用披露而主要改进报告部门披露要求。该ASU适用于2023年12月15日后开始的年度期间和2024年12月15日后开始的中间期间。我们目前正在评估该指导对我们的简明综合基本报表的影响。
17
目录

ARCADIUm LITHIUm PLC
财务报表附注（未经审计）—（续）
注4：合作和其他安排 Allkem livent合并
2024年1月4日（"收购日期"），Arcadium通过Livent Corporation（特拉华州公司 "Livent"）、澳大利亚上市公司Allkem Limited（"Allkem"）、泽西岛法律下设立的上市公司Arcadium Lithium plc（"Arcadium"）、Lightning-A Merger Sub, Inc.（"Merger Sub"）及爱尔兰设立和注册的私人有限公司Arcadium Lithium Intermediate IRL Limited（"Irish IntermediateCo"）完成了之前宣布的Allkem Livent合并。
该交易是通过澳大利亚法律下的安排方案完成的，根据该方案，每个由Allkem股东持有的已发行、已全额支付的普通股可交换为 一个 Arcadium锂CHESS托管证券（称为“CDI”，在澳大利亚证券交易所上市，每个CDI代表对Arcadium普通股的有益所有权利益 一个 Arcadium普通股）或 一个 Arcadium普通股（每股面值$1.00 ），以及(b) 一项合并交易，根据合并交易，Merger Sub，爱尔兰IntermediateCo的全资子公司（Arcadium的直接全资子公司）与Livent合并，Livent作为存续实体。每股Livent普通股，面值$0.001 每股（每股为一"Livent Share"）被转换为有权收取 2.406 Arcadium普通股份。
根据Allkem合并Livent， 433,156,855 Arcadium普通股（包括 96,909 相关的加速PRSU奖励）发行给原Livent股东， 641,337,840 Arcadium普通股（包括 98,725,616 Arcadium普通股和 542,612,224 关于Arcadium普通股的CDIs）发行给原Allkem股东。 收购日期转移考虑的公允价值包括以下内容：
(单位：百万)金额
代价：
向Allkem股东发行的Arcadium普通股的公允价值$4,385.6 
归因于合并前服务的转换后Allkem绩效权益的公允价值4.8 
总对价$4,390.4 
Allkem和Livent的合并符合作为业务组合进行会计处理的标准，并使用收购法进行会计处理，Livent被视为会计收购方。在收购法下，Allkem及其子公司的资产和负债在Allkem和Livent合并完成日按照各自的公允价值入账，支付给被收购实体的对价的公允价值与取得的净资产公允价值之间的差额被记录为商誉。
根据业务合并指引，Allkem的资产、负债和非控制权益的公允价值，包括所得税影响，是暂定的。暂定的公允价值分配可能在收购日后的一年内发生变化。确定Allkem的资产和负债的公允价值需要做出判断和一定的假设，其中最重要的是与Allkem矿山资产和权利的估值有关。
2024年9月30日结束的九个月内，已对以下情况在允许的计量期内进行调整：房地产、厂房及设备增加了$0.6百万，递延所得税资产减少了$16.7百万，应付账款、交易及其他增加了$1.8百万，所得税减少了$0.3百万，环保母基责任减少了$9.1百万，递延所得税负债减少了$27.7百万，其他长期负债增加了$3.7百万，商誉净减少了$15.3百万。根据ASU 2015-16“业务组合”指引，在2024年9月30日结束的九个月内，测量期调整已反映为当期调整。 测量期调整对当期的收益或现金没有影响。
Allkem收购相关的交易和相关成本，主要包括顾问费、法律费、会计费以及某些与交易相关的奖金，合计为$12.2 分别相比较。2024年9月30日止三个月和九个月的有效税率为$99.0 分别为2024年9月30日结束的三个月和九个月，支出当期发生，已计入重组及其他费用。

18
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ARCADIUm LITHIUm PLC
财务报表附注（未经审计）—（续）
下表总结了截至2024年1月4日的Allkem Livent合并初步购买价格分配情况，该情况可能会发生变化:


(以百万计，除每股金额之外)金额
总对价$4,390.4 
获得的资产:
现金及现金等价物$681.4 
交易应收款64.2 
存货121.3 
预付和其他流动资产87.2 
物业、厂房及设备4,326.1 
使用权资产-经营租赁，净额53.4 
递延所得税资产9.6 
其他资产(1)
192.7 
获取的总资产$5,535.9 
负债承担:
应付账款，交易和其他$223.7 
应计及其他流动负债35.1 
所得税78.5 
包括流动部分的长期债务301.7 
经营租赁负债-长期53.4 
环保母基9.8 
递延所得税负债1,289.0 
其他长期负债53.2 
承担的总负债$2,044.4 
收购净资产公允价值$3,491.5 
添加：已取得非控制权益的公允价值 275.0 
已取得的净资产的公允价值减去已取得的非控制权益$3,216.5 
商誉$1,173.9 
___________________
1.包括开多期半成品库存。
交易应收款
从2023年12月31日至2024年3月31日，净合同资产增加$64.2 百万美元的收购交易应收账款代表了合同项下应付总额的公允价值。
固定资产
房地产、厂房及设备中包含的矿业权的公允价值总额为$2,745.0百万，非矿业权房地产、厂房及设备总额为$1,581.1百万。矿业权的公允价值是使用多期盈余超额法进行估算的。盈余超额法是一种收入途径的方法，用于估计归因于资产的企业预计现金流量，扣除用于其他可辨认资产的使用费（包括运营资本、固定资产和其他无形资产）。矿业权采用产量法折旧，而其他所有房地产、厂房及设备则采用直线法进行折旧。
商誉
收购企业所产生的商誉，代表了购买价格超过已获得净资产公允价值的部分。根据表格披露的金额，在收购日期起一年内可能会有变化，主要归因于包括Allkem业务和运营纳入公司运营所创造的增长机会和预期的协同效应价值，以及组建的员工队伍价值。商誉对所得税目的没有可摊销基础。

19
目录

ARCADIUm LITHIUm PLC
财务报表附注（未经审计）—（续）
Allkem的营收和盈利
以下表格展示了Allkem的收入和净收益，这些数据包含在Arcadium从收购日期至2024年9月30日的简明合并运营报表中。
（数以百万计）截至9月30日的三个月截至9月30日的九个月
2024
营业收入$56.6 $242.9 
税前营业（损失）/收入$(44.6)$107.6 

Pro Forma财务信息
由于Allkem Livent合并于2024年1月4日完成，除了1月的头三天由于管理层认为并不重要之外，2024年第一季度的所有活动均包含在Arcadium的简明合并经营报表中。以下未经审计的截至2023年9月30日的三个月和九个月的财务信息基于我们的历史合并财务报表进行调整，以反映如果Allkem Livent合并于2023年1月1日，即最近完成的财政年度的第一天发生的情况。未经审计的合并财务信息并不一定表明如果Allkem Livent合并在所呈现期间开始时完成，会发生什么，也不表明未来的结果。未经审计的合并信息并不一定表明如果收购在2023年1月1日完成后会实现的营运结果，并不打算预测收购后公司的未来财务结果。未经审计的合并信息是基于管理层认为合理的某些假设，并不反映任何整合活动或可能从任何整合活动中获得的协同效益的成本。 未经审计的合并财务结果如下：
（数以百万计）截至9月30日的三个月截至9月30日的九个月
2023
（未经审计）
营业收入$538.5 $1,677.7 
净利润299.0 $812.4 

注释5： 商誉

以下表格总结了截至九个月的商誉变化 2024年9月30日.

（数以百万计）AllkemNemaska 锂矿总计
2023年12月31日期初余额
$— $120.7 $120.7 
收购 - Allkem livent合并1,189.2 — 1,189.2 
测量期调整(15.3)(1.4)(16.7)
截至余额 2024年9月30日
$1,173.9 $119.3 $1,293.2 

请查看注释4以获取更多详细信息。


20
目录

ARCADIUm LITHIUm PLC
财务报表附注（未经审计）—（续）

可能使我们面临信用风险的金融工具主要包括应收账款和计息投资。生命科学产品的批发分销商占据了我们的大部分应收账款，通常不要求抵押品。我们通过持续的信用审查程序和保险来减轻与这种集中性相关的风险。我们的大部分现金由少数几家主要金融机构持有。我们监测与这些机构的风险暴露，并不认为这些机构有不履行其义务的风险。根据记载在文献中的企业风险管理政策，我们监测与任何一个金融机构或企业发行人的信贷风险敞口的量。我们在风险管理工具的交易对手方不能履行其义务时会面临与信贷相关的损失风险，但预计没有任何交易对手不能履行其义务，因为它们有高的信用评级。 营业收入确认
营收分解
我们根据产品目的地，按地域板块和产品类别将与客户的合同收入进行细分。 以下表格提供了按主要地域板块细分的营业收入信息：
（以百万计）截至9月30日的三个月截至9月30日的九个月
2024202320242023
亚太地区 (1)
$172.4 $163.8 $604.3 $502.4 
北美 (1)
22.1 31.9 65.6 124.5 
欧洲、中东和非洲8.6 15.6 47.6 72.0 
拉丁美洲— 0.1 1.3 1.8 
合并收入$203.1 $211.4 $718.8 $700.7 
1.截至2024年9月30日的三个月内，营业收入超过10%的国家包括中国、日本、韩国和美国。2024年9月30日的三个月内，中国、日本、韩国和美国的销售额分别为$111.4百万，$33.9百万，$24.8$400万、$300万和$500万。21.7百万。截至2024年9月30日的九个月内，营业收入超过10%的国家包括中国、日本和韩国。2024年9月30日的九个月内，中国、日本和韩国的销售额分别为$392.4百万，$111.7$400万、$300万和$500万。89.8百万。截至2023年9月30日的三个月内，营业收入超过10%的国家包括中国、日本、美国和韩国。2023年9月30日的三个月内，中国、日本、美国和韩国的销售额分别为$95.6百万，$42.1百万，$30.0$400万、$300万和$500万。20.6百万美元，分别。截至2023年9月30日的九个月，营业收入超过10%的国家包括中国、美国、日本和韩国。2023年9月30日截至的九个月，中国、美国、日本和韩国的销售额合计为$274.9百万，$120.0百万，$118.2$400万、$300万和$500万。86.9百万，分别。
截至2024年9月30日的三个月内，两位客户每位占据了大约 25营业收入的%，我们的10大客户总共占据了大约 77截至2024年9月30日的九个月内，两位客户分别占据了营业收入的%，我们的10大客户总共占据了大约 23%和 20营业收入的%，我们的10大客户总共占据了大约 73截至2023年9月30日的三个月内，两位客户分别占据了营业收入的%， 28 25其中一个占据了营业收入的%和 78占合并营业收入的%。截至2023年9月30日的九个月，大约有两位客户占据了 25%和 22%的合并营业收入，我们十大客户总共占据了大约 70%的合并营业收入。任何重要客户的流失都可能对我们的业务、财务状况和经营业绩产生重大不利影响。
以下表格提供了按主要产品类别分解的营业收入信息:
（数以百万计）截至9月30日的三个月截至9月30日的九个月
2024202320242023
锂矿氢氧化物$85.6 $142.8 $309.3 $449.2 
锂矿碳酸盐 (1)
56.0 9.0 208.5 23.6 
正丁基锂和其他锂特种产品39.4 59.6 130.2 227.9 
锂辉石精矿 (2)
22.1 — 70.8 — 
营业收入总额$203.1 $211.4 $718.8 $700.7 
______________________
1.包括碳酸锂副产品的营业收入。
2.包括低品位锂辉石销售和极少量其他产品。

合同资产和合同负债余额
我们通过转移商品和服务来满足我们的义务，以换取来自客户的对价。有时，履行的时间与收到客户相关对价的时间不同，从而导致合同资产或负债的确认。在某些客户合同中采用的临时定价可能会导致确认
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ARCADIUm LITHIUm PLC
财务报表附注（未经审计）—（续）
合同资产或负债的确认。 如果客户支付的对价在我们相关履约义务完成之前收到，则我们确认合同负债。
下表显示了我们合同负债和当前交易应收款的期初和期末余额，减去与客户合同的准备金。
（数以百万计）2024年9月30日的余额2023年12月31日的余额（减少）/增加
与客户合同应收款项，减免后净额$90.2 $106.7 $(16.5)
合同负债 - 短期55.1 4.4 50.7 
长期合同负债 251.2 217.8 33.4 

绩效义务
偶尔，我们可能与客户签订多年的按量购买或付款补偿供应协议。与这些合同履行义务相关的预计要确认的营业收入总额约为$1.6 十亿在接下来的 五年。根据我们过去与这些安排下客户的经验，我们预计会继续根据合同逐步将产品的控制权转移给客户来确认营业收入。然而，在发生成交量购买不足的情况下，我们将根据合同中客户应支付的金额，在剩余的履行义务期内确认。

注释 7： 存货净额

存货如下：
(以百万计)2024年9月30日2023年12月31日
成品$139.9 $59.1 
半成品 143.6 108.8 
原材料、供应品和其他106.1 49.6 
存货净额$389.6 $217.5 

存货按成本或净实现价值中的较低金额计量。存货成本包括销售前与产品直接相关的成本，包括所有制造业-半导体间接费用，但不包括分销成本。所有存货均按先进先出（"FIFO"）的原则确定。


注释 8: 投资
2024年6月30日止的三个月，激励报酬保持不变，2024年6月30日止的九个月增加了5500万美元，主要是由于普特南公司的收购，延期报酬奖励支出的增加，以及基于我们年度业绩预期的更高奖金支出，部分抵消了专业投资经理的激励报酬降低。
（以百万为单位）2024年9月30日2023年12月31日
ESm ILiAD，有限责任公司$30.1 $30.1 
Arcadium NQSP6.8 4.7 
TLC（成田工厂）2.4 — 
其他0.7 — 
投资$40.0 $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.
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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
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 September 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 nine months ended September 30, 2024, we recorded a $5.9 million loss related to our interest in TLC to Equity in net loss of unconsolidated affiliates in our condensed consolidated statements of operations. At September 30, 2024, the carrying value of our interest in TLC and the loan receivable was zero and $2.4 million, respectively.
Note 9: 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.
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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
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 nine months ended September 30, 2023 we recorded a $6.7 million and $22.0 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 September 30, 2024 includes Nemaska Lithium's cash of $42 million at June 30, 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.
As of September 30, 2024, Nemaska Lithium received cash of $225.0 million related to advance payments 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 one-quarter lag basis, is $161.3 million debt and $63.7 million contract liability as of September 30, 2024, see Note 15 for details. A total of $350.0 million in prepayments are expected from the customer with final prepayment expected in early 2025.
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.
In the fourth quarter of 2024, the Company invested cash of $22.0 million in Nemaska Lithium under a subscription agreement dated October 9, 2024. IQ, which owns the remaining 50% interest in Nemaska Lithium, contemporaneously made an equal contribution and Arcadium's ownership stake is not changed pursuant to the additional investment.

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"), 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, 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. Consequently, the effective equity ownership of the Olaroz Plant is 66.5% by Arcadium, 25% by TTC, and 8.5% by JEMSE.
As of September 30, 2024, Arcadium had restricted cash of $18.1 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 September 30, 2024 includes $42.6 million held by the entities discussed above.
Arcadium funded JEMSE’s equity contributions in SDJ with an interest-free loan (the "JEMSE Receivable") to be repaid by JEMSE out of 33% of the dividends it receives from SDJ. The fair value of the non-current receivable is $5.0 million as of September 30, 2024.
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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
Note 10: Property, Plant and Equipment, Net
Property, plant and equipment consisted of the following:
(in Millions)September 30, 2024December 31, 2023
Land and land improvements$334.7 $106.2 
Buildings985.3 134.9 
Machinery and equipment985.6 420.7 
Mineral rights3,279.6 560.0 
Construction in progress2,009.5 1,284.4 
Total cost$7,594.7 $2,506.2 
Accumulated depreciation(345.5)(269.1)
Property, plant and equipment, net$7,249.2 $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 $74.6 million and $21.5 million for the nine months ended September 30, 2024 and 2023, respectively.
Long-Lived Asset Impairment
On September 4, 2024, Arcadium Lithium announced that it will suspend Stage 4A waste stripping, and any expansionary investment beyond Stage 3, at its Mt Cattlin spodumene operation in Western Australia given the decline in spodumene prices. As a result, the Company plans to place the Mt Cattlin site into care and maintenance by the end of the first half of 2025 after it completes Stage 3 mining and ore processing. The Company does not intend to close Mt Cattlin. Care and maintenance will keep the mine and processing facilities in a position to potentially resume operations when market conditions become more favorable. The Company will also continue to explore the viability of underground mining at the Mt Cattlin site, which could potentially extend the remaining mine life.
In the third quarter of 2024, as a result of the plan to place Mt Cattlin into care and maintenance, the Company determined that there were indicators of impairment and therefore performed long-lived assets impairment testing for the Mt Cattlin asset group. As a result of the evaluation using the income approach, the Company determined the undiscounted cash flows of Mt Cattlin's assets were not greater than their carrying value, resulting in a non-cash charge of $51.7 million for the three months ended September 30, 2024, recorded to Impairment charges in the condensed consolidated statement of operations. Management will continue to monitor events and circumstances that would require a future test of recoverability on the remaining Mt Cattlin long-lived assets.


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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
Note 11: 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 September 30,Nine Months Ended September 30,
(in Millions)2024202320242023
Restructuring charges:
Severance-related and exit costs $0.6 $— $14.7 $2.4 
Other charges:
Costs related to the Allkem Livent Merger12.2 13.6 99.0 32.3 
Bessemer City plant fire - gain, net of insurance recoveries— (5.0)— — 
Other(3.1)0.1 (2.3)0.3 
Total Restructuring and other charges$9.7 $8.7 $111.4 $35.0 

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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
Note 12: Other gains/(losses)
The following table shows amounts included in Other gains/(losses) in the condensed consolidated statements of operations:
Three Months Ended September 30,Nine Months Ended September 30,
(in Millions)2024202320242023
Blue Chip Swap gains: (1)
Non-recurring - SDV and MdA Holdings LLC (2)
$8.7 $10.0 $45.2 $21.4 
Recurring - SDJ and MdA5.7 — 19.7 — 
Total Blue Chip Swap gains14.4 10.0 64.9 21.4 
Foreign currency remeasurement gains/(losses):
Remeasurement gains on U.S. dollar denominated cash held by foreign currency functional subsidiary— — 14.3 — 
All other foreign currency remeasurement gains/(losses) (3)
30.9 (11.2)123.7 (16.1)
Total Foreign currency remeasurement gains/(losses)30.9 (11.2)138.0 (16.1)
Loss on trading securities(0.5)— (0.9)— 
Total Other gains/(losses)$44.8 $(1.2)$202.0 $5.3 
___________________________
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 nine months ended September 30, 2024 primarily includes impact of currency fluctuations on deferred income tax assets and liabilities related to the Allkem Livent Merger.
Note 13: 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 nine months ended September 30, 2024 was a benefit of $33.4 million and expense of $55.7 million resulting in an effective tax rate of 383.9% and 28.6%, respectively. Provision for income taxes for the three and nine months ended September 30, 2023 was an expense of $9.3 million and $47.8 million resulting in an effective tax rate of 9.6% and 14.1%, respectively.
Note 14: 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.

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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
Note 15: Debt
Debt consists of the following:
Interest Rate
Percentage
Maturity
Date		September 30, 2024December 31, 2023
(in Millions)SOFR borrowingsBase rate borrowings
Revolving Credit Facility (1)
6.70%8.75%2027$99.0 $— 
4.125% Convertible Senior Notes due 2025
4.125%2025245.8 245.8 
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 - Other0.5 3.4 
Debt assumed in Allkem Livent Merger (3)
Project Loan Facility - Stage 2 of Olaroz Plant2.61%2029135.0 — 
Affiliate Loans with TTC15.29%203081.5 — 
Affiliate Loan with TLP10.34%20262.5 — 
Total debt assumed in Allkem Livent Merger219.0 — 
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.As of September 30, 2024 and December 31, 2023, there were $20.7 million and $15.5 million, respectively, in letters of credit outstanding under our Revolving Credit Facility and $380.3 million and $484.5 million available funds as of September 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 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 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
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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
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, September 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 December 31, 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 were reclassified to current portion of long-term debt in the third quarter of 2024.
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 $1.1 million for the three and nine months ended September 30, 2024, respectively, all of which was capitalized. The Company recorded $2.5 million and $7.5 million of accrued interest expense related to the principal amount for the three and nine months ended September 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
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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
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 nine months ended September 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 $2.3 million as of September 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 September 30, 2024. Our minimum allowable interest coverage ratio is 3.5. We were in compliance with all requirements of the covenants as of September 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"), 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 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 has a project loan facility with Mizuho Bank related to the Olaroz Plant (the "Project Loan Facility"):
•On September 10, 2024, SDJ paid the lender the outstanding principal balance of $9.1 million, to repay the Project Loan Facility for Stage 1 of the Olaroz Plant in its entirety.
•The Project Loan Facility for Stage 2 of the Olaroz project had an outstanding balance of $135.0 million as of September 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 September 30, 2024, Arcadium had restricted cash of $18.1 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 September 30, 2024, Arcadium is also required to reserve $101.3 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.
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Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
Affiliate Loans With TTC
SDJ has eleven loans with TTC related to the Olaroz Plant originally providing for a total of $93.0 million in principal. As of September 30, 2024, the loans have an outstanding principal balance of $81.5 million and are payable ranging from July 2024 until March 2030.
Note 16: Share-based Compensation
Arcadium Lithium plc Omnibus Incentive Plan (the "Arcadium Plan")
As of September 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 Allkem 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.
Treatment of Equity Awards in the Rio Tinto Transaction
At the completion of the Rio Tinto Transaction, the Company’s outstanding equity awards will be treated as follows:
•Restricted Stock Units: Each outstanding RSU that is held by a non-employee director will be cancelled and converted into the right to receive an amount in cash, without interest, equal to $5.85 per Company share. Each other outstanding RSU will be cancelled and exchanged for an award of restricted stock units with respect to a number of ordinary shares of either Rio Tinto plc or Rio Tinto Limited (each, a "Listed Share"), determined by multiplying the number of Company shares subject to such RSU by the Equity Award Conversion Ratio (as defined in the Rio Tinto Transaction Agreement).
•Restricted Share Rights (or "Allkem Replacement Awards" per the Allkem Transaction Agreement): Each outstanding restricted share right with respect to Company shares, whether vested or unvested (each, a "Restricted Share Right"), will be cancelled and exchanged for an award of restricted share rights with respect to a number of Listed Shares, determined by multiplying the number of Company shares subject to such Restricted Share Right by the Equity Award Conversion Ratio.
•Stock Options: Each outstanding stock option with respect to the Company’s shares, whether vested or unvested (each, a "Company Stock Option"), will be cancelled and exchanged for an option to purchase a number of applicable Listed Shares determined by multiplying (i) the number of Company shares subject to such Company Stock Option by (ii) the Equity Award Conversion Ratio, rounded down to the nearest whole share. Such stock option will have a per-share exercise price determined by dividing (i) the exercise price per Company share at which such Company Stock Option
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Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
was exercisable immediately prior to the closing by (ii) the Equity Award Conversion Ratio, rounded up to the nearest whole cent.
Legacy Livent Awards
As of September 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 September 30,Nine Months Ended September 30,
(in Millions)2024
Share Option Expense, net of taxes of $0.1 and $0.3
$0.7 $1.9 
Restricted Share Expense, net of taxes of $0.1 and $1.2
2.8 19.8 
Performance-Based Restricted Share Expense, net of taxes of zero and zero
— 0.4 
Total Share Compensation Expense, net of taxes of $0.2 and $1.5 (1)
$3.5 $22.1 
____________________ 
(1)    Gross share compensation charges of $3.4 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 September 30, 2024. Gross share compensation charges of $9.1 million and $14.5 million were recorded to Selling, general and administrative expenses and Restructuring and other charges, respectively, in our condensed consolidated statements of operations for the nine months ended September 30, 2024.
Share Options
The grant date fair values of the share options granted in the nine months ended September 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 nine months ended September 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: 
Nine months ended September 30, 2024
Grant date3/6/20245/14/20246/28/20247/30/20249/1/2024
Expected dividend yield—%—%—%—%—%
Expected volatility31.18%31.97%33.00%33.22%35.06%
Expected life (in years)6.06.06.06.06.0
Risk-free interest rate4.08%4.41%4.28%4.00%3.72%
The weighted-average grant date fair value of share options granted during the nine months ended September 30, 2024 was $1.89 per share.
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Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
The following summary shows share option activity for the Allkem Livent Merger and the Arcadium Plan for the nine months ended September 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$6.73 $6.5 
Granted4,058,953 $4.82 
Exercised(53,056)$4.05 $— 
Forfeited(106,548)$5.67 
Outstanding at September 30, 2024
8,960,036 6.9$5.90 $0.1 
Exercisable at September 30, 2024
4,118,374 4.3$6.24 $— 
As of September 30, 2024, we had total remaining unrecognized compensation cost related to unvested share options of $7.2 million which will be amortized over the weighted-average remaining requisite service period of approximately 2.4 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 nine months ended September 30, 2024, will vest equally on the first, second and third anniversaries of the grant date.
Pursuant to the Allkem 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 nine months ended September 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)
5,084,720 $4.90 
Vested (2)
(2,171,932)$7.01 
Forfeited(164,009)$5.62 
Nonvested September 30, 2024
5,035,867 $5.30 $14.4 
___________________
1.The Company granted 1,080,825 Allkem Replacement Awards on January 12, 2024 pursuant to the Allkem 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 Allkem Transaction Agreement.
As of September 30, 2024, the Arcadium Plan had total remaining unrecognized compensation cost related to unvested RSUs of $18.6 million which will be amortized over the weighted-average remaining requisite service period of approximately 2.2 years.

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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
Performance-Based Restricted Share Unit ("PRSU") Awards
Pursuant to the Allkem 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 nine months ended September 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 September 30, 2024
— $— $— 
Note 17: Equity
After the closing of the Allkem Livent Merger on January 4, 2024 and as of September 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 awards371,750 — 371,750 
Arcadium share option awards8,497 — 8,497 
Net sales of treasury shares - Arcadium NQSP— 1,154 1,154 
Balance as of September 30, 20241,075,427,002 (262,515)1,075,164,487 
_____________________
1.Balances outstanding as of December 31, 2023, representing predecessor Livent, have been adjusted to reflect the 2.406 Exchange Ratio.


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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
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(17.1)0.2 (16.9)
Amounts reclassified from accumulated other comprehensive loss— 0.1 0.1 
Accumulated other comprehensive loss, net of tax as of September 30, 2024
$(66.9)$0.3 $(66.6)
(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 reclassifications(1.3)— (1.3)
Amounts reclassified from accumulated other comprehensive loss— 0.2 0.2 
Accumulated other comprehensive loss, net of tax as of September 30, 2023
$(52.3)$0.2 $(52.1)

Dividends
For the three and nine months ended September 30, 2024 and 2023, we paid no dividends. We do not expect to pay any dividends in the foreseeable future.
Note 18: 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 September 30,Nine Months Ended September 30,
2024
2023 (1)
2024
2023 (1)
Numerator:
Net income attributable to Arcadium Lithium plc$16.1 $87.4 $117.4 $292.4 
Denominator:
Weighted average ordinary shares outstanding - basic
1,075.1 432.4 1,067.8 432.3 
Dilutive share equivalents from share-based plans 0.8 3.5 0.9 3.5 
Dilutive share equivalents from 2025 Notes67.7 67.7 67.7 67.7 
Weighted average ordinary shares outstanding - diluted 1,143.6 503.6 1,136.4 503.5 
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 
_____________________
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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
1.For the three and nine months ended September 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 months ended September 30, 2024, options to purchase 9,163,458 shares of our ordinary shares, at an average exercise price of $5.90 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 period. For the nine months ended September 30, 2024, options to purchase 8,211,667 shares of our ordinary shares, at an average exercise price of $6.19 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 period. For the three months ended September 30, 2023, options to purchase 435,544 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 period. For the nine months ended September 30, 2023, options to purchase 353,128 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 period.
Note 19: 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 $772.9 million and $724.4 million, respectively, as of September 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.
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ARCADIUm LITHIUm PLC
基本报表附注（未经审计）—（续）
我们正式记录了套期工具与被套期项目之间的所有关系，以及进行各种套期交易的风险管理目标和策略。这一过程包括将被指定为公允价值或现金流套期保值的衍生工具与资产和负债表上的特定资产和负债，或者与特定公司承诺或预测交易相关联。我们在套期交易开始时和持续进行评估，判断每个衍生工具是否高度有效地抵消被套期项目的公允价值或现金流变化。如果我们判断某个衍生工具不是高度有效的套期工具，或者如果某个衍生工具不再是高度有效的套期工具，我们将停止继续对该衍生工具的套期会计处理。

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ARCADIUm LITHIUm PLC
基本报表附注（未经审计）—（续）
外币汇兑风险管理
我们在许多国外开展业务，使得收入、现金流和我们的财务状况面临着外币风险。其中大部分风险是由外币交易产生的。我们面临的主要货币汇率风险包括欧元、英镑、人民币、阿根廷比索、澳元、加币和日元。目前我们不对与阿根廷比索相关的外币风险进行对冲，这是因为适合的衍生工具供应有限且成本较高。我们的政策是尽量减少对货币汇率不利变动的敞口。这是通过风险管理的一项有序计划来实现的，其中可能包括使用外币债务和远期外汇合约。我们还使用远期外汇合约来对冲公司和高度预期的外币现金流，旨在平衡货币风险，从而有效保护免受货币市场大幅波动的影响。
信贷风险集中
我们与衍生合约的对手方主要是主要的金融机构。我们限制与任何一个金融机构签订的合约金额，并监控对手方的信用评级。我们还尽可能与每家金融机构签订主净额协议，有助于减少与我们金融工具相关的信用风险。虽然我们可能由于对手方未履行义务而面临信用损失，但我们认为这种风险很小。
衍生工具的会计及对冲活动
。
我们将资产负债表上的所有衍生工具按公允价值计量。在进入衍生工具时点，我们通常将衍生工具指定为对应预测交易的现金流量变动的套期保值（现金流量套期保值）。我们在累积其他综合收益（"AOCL"）中记录作为现金流量套期保值指定并符合所有必要标准的衍生工具公允价值的变动。随着基础套期项目影响收入，我们随后将这些金额重新分类为收入。相反，我们会立即记录未指定为现金流量套期保值的衍生工具公允价值的变动为收入。截至2024年9月30日，我们在AOCL中有净的外币远期合约，税后获利为$0.3百万，指定为基础预测销售和购买的现金流量套期保值。截至2024年9月30日，我们持有各种到期日的远期合约，以购买、卖出或交易外币，相当于约$美元。10.7股票回购活动以及因员工基于股票的补偿目的而重新发行国库股的情况如下：
税后净损益$0.3百万，代表货币兑换的外汇合同，如果未来的现货汇率与2024年9月30日的市场汇率一致，则将在截至2024年12月31日的一年期间实现收益。当预测的交易发生时，收益的实际影响将取决于实际的现货汇率。我们在范围简化的经营活动综合利润表中的销售成本一栏中确认衍生损益。

未指定为现金流量套期工具的衍生工具
我们持有某些未被指定为现金流量套期保值工具的远期合约，用于对冲与特定货币资产和负债相关的外汇波动风险。这些合同未被指定为现金流量套期保值工具，这些项目的公允价值变动将记录在收益中。
我们持有着未指定为现金流量套期工具的即期合同，用于会计目的，具有各种到期日，用于买入、卖出或者交易不同外币，相当于约美元。115.1 2024年9月30日，我们持有未指定为现金流量套期工具的即期合同，用于会计目的，以美元相当于约1000万美元。
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基本报表附注（未经审计）—（续）
衍生工具公允价值
以下表格提供了我们衍生工具的总正公允价值和净资产负债表呈现。截至2023年12月31日，公司没有未结算的衍生现金流量套期交易合同。
2024年9月30日
衍生品的总金额
（数以百万计）指定为现金流量套期交易
衍生工具资产
汇率期货合同$0.4 
总衍生资产 (1)
0.4 
净衍生资产$0.4 
__________________
1.净余额包含在简明合并资产负债表的预付款和其他流动资产中。

以下表格总结了与现金流量套期工具和未指定为现金流量套期工工具有关的收益或损失。
与现金流量避险有关的衍生品
（数以百万计）总汇率期货合约
按截至2023年12月31日税后处理的累积其他综合收益$— 
未实现套期保值收益，税后 0.2 
总衍生工具对综合收入的影响，税后0.2 
按截至2024年3月31日税后处理的累积其他综合收益$0.2 
未实现套期保值收益，税后 0.1 
总衍生工具对综合收入的影响，税后0.1 
2024年6月30日税后其他综合收益累计金额$0.3 
税后未实现对冲损失净额 (0.1)
税后对未实现对冲损失进行重新分类净额0.1 
税后衍生工具对综合收益的总影响— 
2024年9月30日税后其他综合收益累计金额$0.3 
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ARCADIUm LITHIUm PLC
财务报表附注（未经审计）—（续）
（数以百万计）总汇率期货合同
年度截至2022年12月31日的其他综合收益累计额，税后$— 
未实现的对冲收益，税后 0.2 
总衍生工具对综合收益的影响，税后0.2 
截至2023年3月31日的其他综合收益累计额，税后$0.2 
未实现的对冲收益，税后 0.4 
总衍生工具对综合收益的影响，税后0.4 
2023年6月30日之累计其他全面收入，税后$0.6 
未实现对冲损失，税后 (0.6)
遞延对冲收益的再分类，税后0.2 
衍生工具对综合收入的总影响，税后(0.4)
2023年9月30日之累计其他全面收入，税后$0.2 
未指定为现金流量套期工具的衍生品
损益的地点
在衍生品上已确认的收益
税前收益或(损失)的金额
在衍生品上已确认的收益 (1)
截至9月30日的三个月截至9月30日的九个月
（数以百万计） 2024202320242023
汇率期货合同其他收益/(损失)$2.2 $(0.1)$15.3 $1.8 
总计$2.2 $(0.1)$15.3 $1.8 
____________________
1.金额代表对冲工具的收益或损失，抵消对冲项目的收益或损失。

公允价值衡量
在确定所持投资的公允价值时，公司主要依赖于独立第三方评估者对证券的公允估价。该公司还审核估值过程中使用的输入，并在进行自己的经纪人引用价格的内部收集后对证券的定价进行合理性评估。独立第三方评估者提供的所有投资类别的公允价值，如果超过公司确定的公允价值的一定百分比，则会与独立第三方评估者沟通，并考虑其合理性。独立第三方评估者在确定他们最初的定价是否合理之前，会考虑公司提供的信息。
以下表格展示了我们资产负债表中按照公允价值计量、以公允价值计量的资产和负债的公允价值层次。
（数以百万计）2024年9月30日相同资产在活跃市场的标价
(一级)		其他重要可观察输入
（三级）		重要的不可观察的输入
非市场可观察到的输入（三级）
资产
延期薪酬计划投资 (1)
$6.9 $6.9 $— $— 
JEMSE应收款5.0 — — 5.0 
股票证券 (2)
0.7 0.7 — — 
衍生产品 - 汇率期货 0.4 — 0.4 — 
总资产$13.0 $7.6 $0.4 $5.0 
负债
延期薪酬计划义务 (3)
$7.6 $7.6 $— $— 
总负债$7.6 $7.6 $— $— 
 
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ARCADIUm LITHIUm PLC
财务报表附注（未经审计）—（续）
（数以百万计）2023年12月31日相同资产在活跃市场上的报价
(一级)		其他重要可观察输入
（三级）		重要的不可观察的输入
非市场可观察到的输入（三级）
资产
推迟薪酬计划投资 (1)
$4.1 $4.1 $— — 
总资产$4.1 $4.1 $— $— 
负债
推迟薪酬计划义务 (3)
$6.7 $6.7 $— $— 
负债合计 (4)
$6.7 $6.7 $— $— 
____________________
1.资产负债表中包含了投资。Arcadium NQSP对Arcadium普通股的投资记录在资产负债表中，并以历史成本计量。$的按市值计量收益0.11百万美元和1.2分别记录在2024年9月30日和9个月内。分别记录在截至2024年9月30日的三个月和九个月期间的$百万的按市值计量收益1.01百万美元和0.2，涉及Arcadium普通股的2023年9月30日以及9个月期间的三个月分别记录为多少百万的按市值计量收益。按市值计量的收益和损失记录在损益表的销售、总务及管理费用中，在资产负债表中的递延薪酬计划义务中有相应的抵销。
2.按市场价计算的收益和损失记录在综合损益表的其他收益/损失中。
3.资产负债表中，余额包含在其他长期负债中。
4.截至2023年12月31日，公司没有开放的现金流量套期交易合约。


Note 20： 承诺和不确定性
备用金
我们是多项法律诉讼的当事方，其中某些事项将在下文讨论。Arcadium在获知有可能发生损失并且该损失金额或损失范围可以合理估计时，记录了预计损失的负债。随着有关信息的进一步获得，管理层调整其评估和估计。法律费用按发生即支出。
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") has received a notice from the Argentine Customs Authority regarding custom duties for the export of lithium carbonate by SDJ from January 2022 through August 2023.
SDJ 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.
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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
MdA was also notified from the Argentine Tax Authority of the start of transfer pricing audits for the periods 2017 and 2018. SDJ was also notified by the Argentine Tax Authority of the start of a transfer pricing audit for the period of 2018.
2023年1月，阿根廷经济部发布了一项取消与锂产品相关的出口退税制度的决议，随后于2023年2月发布了第57/2023号总统令。总统令预计将取消锂产品的所有出口退税。在总统令颁布之前，MdA和SDJ有权收款 4出口产品离岸价格的百分比（包括 “拉普纳” 退税，即 2.5% 和 “出口” 退税 1.5%)。2023 年 10 月，根据第 557/2023 号总统令，出口退税 1.5% 已恢复。在 2023 年 10 月 26 日生效的总统令之后，MdA 和 SDJ 有权获得 1.5其出口产品的离岸价格的回扣/退款百分比。截至2024年9月30日，MdA和SDJ的应收账款约为美元5.1 百万美元和美元1.5分别为百万美元，在总统令颁布后仍然有效并仍然有效。
公司目前无法估计可能存在的责任范围。
澳洲税务事宜
我们于2024年4月16日收到通知，澳大利亚税务局将对Allkem Pty Ltd及其澳大利亚子公司在2019年7月1日至2023年6月30日之间的综合保证审查进行审计。
加拿大税务事宜
我们收到通知称锂矿公司已收到加拿大税务局（"CRA"）关于2020年10月15日根据魁北克省高级法院发布的《公司债务人安排法》（"CCAA"）下发出的批准和授予订单（"RVO"）的某些审计查询。 锂矿公司已在回应这些查询。
证券集体诉讼案件
2024年9月6日， 两个 对该公司在宾夕法尼亚州费城县民事陪审法庭提起了两起独立的证券集体诉讼案件（庞提亚克市再建总雇员养老基金等对Arcadium锂矿股份有限公司等提起诉讼，以及Satish Chalasani和Kelly Johnson等代表自己和其他同类情况的人对Arcadium锂矿股份有限公司等提起的诉讼）。每起诉讼声称涉及Allkem Livent合并带来的证券法问题，并寻求未知数的赔偿。如果有的话，公司目前无法估计可能的责任范围。
租约
截至2024年9月30日和2023年12月31日，我们所有租赁均为经营租赁。我们在公司办公室、制造业设施和土地上有经营租赁。我们的租赁合同剩余租赁期限为 两个至27年.
公司在Allkem livent合并中假设了一个ROU资产和相应的租赁负债，金额为$53.4百万，所有这些都被视为经营租赁处理。
关于我们的租赁情况的定量披露如下表所示。
截至9月30日的三个月截至9月30日的九个月
(金额以百万计，除加权平均数外)2024202320242023
租赁成本
经营租赁成本 $4.4 $0.4 $12.9 $1.0 
短期租赁成本
0.1 0.1 0.3 0.3 
租赁总成本 (1)
$4.5 $0.5 $13.2 $1.3 
其他信息
支付与租赁负债计量相关的现金：
支付租赁费用的现金$4.2 $0.4 $12.4 $1.1 
__________________________
1.租赁费用在我们的简明综合利润表中被归类为销售、总务及管理费用。

截至2024年9月30日，我们的经营租赁剩余加权平均租期为 8.4 %。截至2019年6月30日，租赁协议规定的未来支付如下： 8.6%.
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ARCADIUm LITHIUm PLC
财务报表附注（未经审计）—（续）
下表显示了我们经营租赁负债在未来五年中的到期分析，以及剩余年份的总额。

（数以百万计）未折现现金流
2024年余下的时间$3.1 
202510.3 
20269.5 
20278.8 
20288.5 
此后35.6 
未来最低租赁付款总额75.8 
少：推定利息(19.3)
总计$56.5 

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ARCADIUM LITHIUM PLC
Notes to the Condensed Consolidated Financial Statements (unaudited) — (Continued)
Note 21: 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:
（数以百万计）2024年9月30日2023年12月31日
预付和其他流动资产
税务相关事项$100.8 $29.5 
预付费用51.0 16.9 
阿根廷政府应收款项 (1)
42.2 7.9 
其他应收款48.4 28.2 
银行承兑汇票 (2)
1.7 — 
衍生资产（注19）0.4 — 
其他资产3.4 3.9 
总计$247.9 $86.4 

（数以百万计）2024年9月30日2023年12月31日
其他
阿根廷政府应收款项 (1), (3)
$119.6 $71.3 
预付给代工厂商 (4)
27.4 27.6 
长期半成品库存142.4 1.0 
税务相关事项4.3 4.0 
资本化的软件，净额1.8 1.1 
对锂矿交通的投资 (5)
43.9 — 
其他50.0 22.7 
总计$389.4 $127.7 
_________________
1.我们有各种在阿根廷开展业务的子公司。截至 2024 年 9 月 30 日和 2023 年 12 月 31 日，美元41.5 百万和美元38.8 阿根廷政府到期的未清应收账款中，分别有100万美元以美元计价，主要是出口税和出口退税应收账款。最近一项与美元计价的应收出口税部分有关的司法裁决34.8百万允许阿根廷政府按照过去每个付款日适用的历史外汇汇率，以阿根廷比索向我们偿还阿根廷比索，并根据银行存款利率进行调整。尽管Arcadium于2023年11月6日提起上诉，并认为其在技术方面有有效的辩护，但此事的最终解决可能会导致高达美元的损失34.3百万。我们通过分析历史经验、当前收款趋势以及区域商业和政治因素等因素，持续审查所有未清应收账款的可收回性。
2.银行承兑汇票是一种常见的中国金融票据，用于结算贸易交易。公司根据旨在确保可收回性和限制营运资本使用的标准，接受来自中国客户的这些票据。
3.2023年6月，公司决定支付$21.7百万用于布宜诺斯艾利斯、埃泽奇萨和萨尔塔海关要求的出口关税和利息，这些要求涉及2018年至2022年在这些地点进行的出口登记。此支付停止进一步利息的计息。这是一个带保留抗议的存入资金，不是对海关要求的任何承认或放弃公司任何抗辩的行为，包括存入资金及利息的追回。此案件仍在讨论中。请参阅 Note 20了解更多信息。
4.我们记录延期费用，用于某些合同制造业协议，我们在基础合同期限内分期摊销。
5.代表公司在2024年第三季度向Nemaska Lithium投入的现金，由于有一个季度的滞后报告，尚未记录在我们对Nemaska的合并报表中。该余额记录在其他资产-非流动资产中，因为预计Nemaska将主要用于资本支出。由于有一个季度的滞后报告，IQ在2024年第三季度也同时做出了同等贡献，并未记录在我们对Nemaska的合并报表中。有关详情请参阅注释9。
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ARCADIUm LITHIUm PLC
财务报表附注（未经审计）—（续）


（数以百万计）2024年9月30日2023年12月31日
应计及其他流动负债
应计工资$55.5 $31.2 
重组准备金2.0 1.7 
养老责任 - 401k3.6 3.2 
环保母基，当前2.8 0.5 
在未纳入合并范围的关联公司中计提的投资— 27.0 
其他应计及其他流动负债 (1)
111.6 73.2 
总计$175.5 $136.8 


（数以百万计）2024年9月30日2023年12月31日
其他长期负债
延期薪酬计划义务$7.6 $6.7 
与不确定税务事项相关的备用 (2)
9.1 6.2 
自保留款1.1 1.1 
资产养老责任12.5 3.7 
其他长期负债61.7 3.6 
总计$92.0 $21.3 
____________________
1.金额主要包括与我们的扩张项目相关的已计提资本支出。主要包括与我们扩张项目相关的已计提资本支出。
2.截至2024年9月30日，我们已记录了一笔不确定税务处置责任，金额为$8.7循环信贷额度，总共可借款$百万0.4 百万美元的担保责任，用于与FMC之间的补偿不确定税务处置，根据税务事务协议。
45


第2项。管理层对财务状况和经营业绩的讨论和分析
关于前瞻性信息的特别说明
1995年《私人证券诉讼改革法》中安全港条款声明： 我们和我们的代表可能不时发表书面或口头"前瞻性"语句，提供非历史信息，包括本季度报告表格10-Q中第2项所含的语句，以及我们在其他提交给SEC的文件中，或向股东的报告中的语句。
在某些情况下，我们已经通过诸如"可能导致"、"有信心"、"期望"、"预计"、"应该"、"可能"、"将继续"、"相信"、"认为"、"预期"、"预测"、"预测"、"估计"、"项目"、"潜在"、"打算"或类似表达来识别前瞻性声明，“前瞻性声明”一词是指1995年《私人证券诉讼改革法案》的内涵，包括这些词和短语的否定。这些前瞻性陈述是基于我们当前对未来事件、未来业务状况以及基于当前可获得信息的公司前景的看法和假设。这些前瞻性声明可能包括我们未来财务业绩的预测，我们预期的增长战略，我们业务中预期的趋势，力拓后并购的预期时间、结果和影响以及预期时间、预期完成和力拓交易的影响，以及万一由于任何原因力拓交易未能及时完成或根本未能完成时的潜在影响。这些陈述只是基于我们对未来事件的当前期望和预测的预测。这些陈述涉及已知和未知的风险、不确定性和其他因素，可能导致实际结果与任何前瞻性陈述所表达或暗示的任何结果、活动水平、绩效或成就大不相同。
投资者应当仔细考虑我们2023年年度10-k表格中第I部分第1A项和本季度10-Q报告中第II部分第1A项讨论的风险因素。
尽管我们认为前瞻性声明中所反映的预期是合理的，但我们无法保证未来结果、活动水平、绩效、成就、合并后的Livent和Allkem的整合、力拓交易的时间、完成时间和影响等。此外，我们或其他任何人都不对这些前瞻性声明的准确性和完整性承担责任。我们希望警告读者不要过分依赖这些前瞻性声明，这些声明仅代表制作日期。我们没有义务，明确拒绝在本季度10-Q表格之后的日期公开修改或更新这些前瞻性声明，以使我们之前的声明符合实际结果、修订后的预期或反映预期或意外事件的发生。
关键会计估计的应用
我们的简明综合财务报表符合美国通用会计准则。我们财务报表的编制要求管理层进行判断、假设和估计，这些因素影响了资产、负债、收入和支出的报告金额，并可能对我们的财务状况和业务成果产生重大影响。我们在2023年年度报告的第II部分第8项中列示了某些会计估计，详见我们综合财务报表的注释2。SEC已将关键会计估计定义为根据美国通用会计准则做出的那些涉及重大计量不确定性并且已经或很可能对公司的财务状况或经营绩效产生重大影响的估计。
我们已审查了这些会计估计，确定了我们认为存在固有不确定性、具有重大主观性和复杂判断，对编制和理解我们简明合并财务报表至关重要的事项。我们已在2023年度10-K表格的第7条目中描述了我们的关键会计估计。这些包括营业收入确认、交易和其他应收账款、资产减值和长期资产以及权益法投资的估值、企业合并的会计核算，以及所得税。我们已与董事会审计委员会审查了这些关键会计估计。关键会计估计是我们经营结果和财务控件呈现的核心，并要求管理层对某些事项作出判断、假设和估计。我们的估计、假设和判断基于历史经验、当前状况和其他合理因素。除了在我们的10-K表格中描述的关键会计估计，我们还添加了“资源”、“库存”、“折旧与摊销”和“商誉”如下述。
由于通货膨胀、高利率期货和各种全球冲突，全球经济和金融市场出现了不确定性和混乱。用于营业收入确认、交易应收款项的收回能力、长期资产的减值和估值，以及所得税的估算等预计可能会受到影响。我们已评估了影响，并未发现需要更新我们的预计和假设或者对资产或负债的账面价值造成重大影响的具体事件或情况，截至本季度报告10-Q形式发布日期。这
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随着新事件发生和获取额外信息，估计可能会发生变化。在不同假设或条件下，实际结果可能与这些估计有实质差异。
概述
Arcadium 锂矿 是全球领先的锂化学品生产商，产品种类繁多，业务规模加强，包括在三个主要锂矿区（即南美的"锂三角区"，西澳大利亚和加拿大）拥有业务，以及世界上最大的锂矿存款基地之一。我们是一家纯粹的，完全集成的锂公司，拥有悠久、经过验证的生产性能锂化合物的历史。我们的主要产品，即电池级锂氢氧化物、碳酸锂、锂辉石、正丁基锂和高纯度锂金属都是各种性能应用中关键的输入。
由于我们专注于为迅速增长的电动汽车（“EV”）和更广泛的能源存储电池市场提供性能优良的锂化合物，我们预计我们从氢氧化锂和碳酸锂以及能源存储应用中产生的营业收入将随时间增加。我们还预计我们按地理位置的营业收入将保持在类似比例，直到供应链在北美和欧洲进一步区域化。我们打算继续保持在其他高性能市场的领先地位，如不可充电电池、润滑脂、制药品和聚合物。
我们相信，凭借我们产品在客户生产工艺中的性能和我们提供的应用知识和技术支持，我们已经在我们服务的市场中赢得了领先供应商的声誉。在电动车市场中，我们是少数几家锂矿供应商之一，其电池级羟基锂已被全球客户认可，可用于其最终用于大规模电动车项目中的正极材料生产。在我们的历史中，随着终端市场应用技术的发展，我们与客户密切合作，了解他们不断变化的性能要求，并开发产品以满足其需求。
作为一个垂直一体化的锂矿生产商，我们受益于运营世界上一些最低成本的锂矿矿床，这些矿床还具有良好的、行业领先的可持续性足迹。 阿卡迪亚在阿根廷的死亡之人盐沼的芬尼克斯操作中提取锂卤水已经超过多年 开空, 约为80年，一直在生产各种锂化合物。我们的运营历史使我们深刻了解从卤水中安全可持续地提取锂化合物的过程。我们已经开发了独有的工艺知识，使我们能够生产高质量、低杂质的碳酸锂和氯化锂，并帮助我们生产行业领先质量的下游产品。我们从阿根廷多个低成本运营中获取大部分用于生产性能锂化合物的锂。我们在阿根廷的业务可扩展，使我们能够增加碳酸锂和氯化锂的生产以满足不断增长的需求。我们还在澳洲进行硬岩矿业运营，生产锂辉石精矿。
我们是少数几家具有全球制造能力的锂矿化合物生产商。今天我们在美国、中国和日本生产的电池级碳酸锂使用碳酸锂作为原料。我们使用氯化锂来生产锂金属，在美国、英国和中国生产氢化丁基锂产品的主要原料，以及在美国生产高纯度锂金属。我们在锂羟化物、碳酸锂、氢化丁基锂和高纯度锂金属的生产工艺和产品应用方面拥有重要的技术和经验，我们相信这为我们在这些市场上提供了竞争优势。
待处理力拓交易
2024年10月9日，Arcadium锂矿与力拓签署了《力拓交易协议》，根据《1991年泽西公司法》的方案，在力拓交易结束时，公司的所有普通股，每股面值为1.00美元，将从公司股东转让至力拓，以换取每股普通股5.85美元的现金金额，不含利息。
力拓交易的完成受力拓交易协议约定的惯常收盘条件约束，包括但不限于获得监管批准和公司股东批准。预计力拓交易将在2025年年中关闭，前提是满足关闭条件。
如果力拓交易完成，公司的普通股将会在纽约证券交易所摘牌，公司根据1934年修订的《交易所法案》的登记将在力拓交易生效后尽快终止，而由公司发行的CHESS存托凭证将在力拓交易生效前立即在澳大利亚证券交易所Ltd上停牌。
力拓交易协议包含了公司和力拓的某些终止权利，包括如果力拓交易在2025年10月9日之前未完成，根据某些情况可以自动延期两个三个月，直到2026年4月9日，如果某些监管批准未获得。力拓交易
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协议规定，如果力拓交易协议终止，公司将向力拓支付2亿美元的终止费，情况包括力拓交易协议中描述的某些事件，包括如果公司终止与董事会改变其建议的力拓交易协议有关，并且如果力拓因公司董事会改变其建议而终止力拓交易协议。如果力拓交易协议在某些情况下终止，并且公司在此类终止后12个月内与替代交易达成协议，公司可能也需要支付终止费用。详情请参阅注释1。
前述的力拓交易协议摘要及其所设想的力拓交易，并不意味着完整，并且完全受限于力拓交易协议的条款和条件，请参阅已提交本10-Q表格的附件2.1上的力拓交易协议备份。
卡特林山地点已被安置至护理和维护状态
2024年9月4日，Arcadium 锂矿宣布将暂停西澳州的Mt Cattlin 锂辉石 控件的4A阶段剥离废石，以及在第3阶段之后的任何扩张性投资，鉴于辉石价格的下降。因此，公司计划在2025年上半年结束后，完成Mt Cattlin 地点的第3阶段开采和矿石加工后，将Mt Cattlin 地点置于保养状态。公司不打算关闭Mt Cattlin。保养将使矿山和加工设施保持在一个可能在市场条件变得更有利时恢复运营的位置。公司还将继续评估在Mt Cattlin 地点进行地下采矿的可行性，这可能会延长剩余矿山寿命。
2024年第三季度，由于计划将Cattlin山置于护理和维护状态，公司确定存在减值的因素，并在使用收益法评估后，确定Cattlin山资产的未折现现金流量不大于其账面价值，导致截至2024年9月30日三个月的非现金支出为5170万美元，记录在损益简表中的减值费用中。详见附注10。
资本支出和产能扩张
鉴于当前锂矿市场情况，公司决定推迟对其四个目前扩张项目中的两个项目的投资。公司仍然看好锂矿需求的强劲长期增长轨迹，并致力于按照市场和客户支持的时间表开发其扩张机会组合。
Arcadium 锂矿打算暂停在其位于加拿大的40,000公吨锂碳酸盐当量（"LCE"）斯泊卡石榴石星系项目（原名"詹姆斯湾"）的当前投资。在项目最终恢复时，支出的暂停将被结构化以最小化成本和时间上的干扰。 Nemaska 锂矿项目仍在进行中。
此外，Arcadium 锂矿已经调整了在阿根廷Hombre Muerto盐沼地区的25000吨碳酸锂项目的顺序。与先前宣布的同时执行Fénix第10亿阶段和Sal de Vida第1阶段不同，这些项目现在将按顺序完成，预计Sal de Vida第1阶段将首先完成。
作为Olaroz 2号阶段持续生产开始的一部分，在阿根廷的一个25,000公吨锂碳酸盐扩建项目中，公司已经确定并正在评估进一步需要更多资金来解决生产质量和可靠性的潜在问题。
锂金属交易
2024年8月2日，Arcadium宣布收购了Li-Metal Corp的锂矿业务部门。 这笔总价1100万美元的现金交易包括与锂金属生产相关的知识产权和实物资产，包括加拿大安大略省的试点生产设施。
Arcadium 锂矿使用锂金属制造特种产品，包括高纯度锂金属（"HPM"）和LIOVIX®，一种专有的可打印的锂金属配方，用于主要电池应用和下一代电池。Arcadium 锂矿还将锂金属加工成丁基锂，以及用于医药、农业、电子和其他行业的其他锂特种化学品。
Allkem和livent的合并
2024年1月4日，Arcadium 锂矿 完成了Allkem livent的并购。
根据10-Q表格，在2024年1月4日完成的Allkem Livent合并中，Arcadium Lithium plc是Livent的继任公司，我们展示了前身Livent截至2023年9月30日的三个月和九个月的运营结果，以及截至2023年12月31日的情况，不包括Allkem的财务状况或运营。在2024年1月4日的Allkem Livent合并结束后，公司的财务报表呈现
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本《10-Q表格》中包括Allkem的财务状况和运营情况。由于Allkem Livent合并，我们截至2024年1月4日后的报告期的财务信息（反映Allkem运营结果）将与合并前的报告期的财务信息（包括本《10-Q表格》中呈现的信息）不能直接进行比较。
细分信息
2024年1月，锂矿Arcadium完成了Allkem livent的合并。有关详细信息，请参阅附注4，Allkem livent合并。在Allkem livent合并结束后，由于我们的产品和服务之间的共同点，我们目前作为一个可报告部门运营。随着整合的发展，我们将继续评估这一决定。
业务更新
自Allkem Livent合并结束以来，我们一直致力于安全整合传统的Allkem和Livent业务，并确定并执行成本节约、商业和运营协同效应。这包括优化办公空间和员工组织结构。我们正在改进资本管理系统和流程，我们相信这将导致更高效和及时的资本支出决策和支出。总体而言，我们试图使随时间推移，扩展活动能够由运营产生的现金支持，尽管这在短期内可能不可行。我们继续在传统的Allkem和Livent业务之间协调不同的流程和报告标准，包括用于会计和报告矿产资源和储量的标准。
我们在阿根廷拥有多年可靠的锂矿产量。然而，我们在阿根廷的运营面临着独特的挑战。阿根廷的外汇储备仍然枯竭。虽然阿根廷的通货膨胀率已经放缓，但阿根廷仍然是一个通货膨胀严重且货币不稳定的经济体。该国天然气、石油和电力价格高企，社会、劳资和政治动荡不安。此外，有关阿根廷政府未来偿还大额国际债务义务的财政不确定性。外汇储备困难导致对外汇交易实施重大限制，进而限制了进口，包括我们的运营和扩建项目所需的某些材料。此外，供应商对高通货膨胀和无法补货的担忧导致产品和设备价格不确定性增加。
鉴于在阿根廷这些因素的混合作用，联邦、省级和市级政府对获取额外资金来源表现出越来越浓厚的兴趣和关注，例如通过海关、专利费、税收收入以及其他的私营和/或外国公司的让步，包括锂矿行业。萨尔塔州检察官通知我们，其决定终止与萨尔塔专利权索赔有关的暂停协议（如我们2023年度10-K表格的年度报告中第I部分、第2项、属性、个别物业、死人湖盐沼、矿权和专利权报告的披露内容），自2024年8月9日生效。因此，基础诉讼于2024年8月10日恢复。我们正在与加塔马卡和萨尔塔各自的省份进行讨论，以解决萨尔塔专利权索赔。我们无法保证我们的讨论结果或时间安排。
此外，在2024年6月27日，阿根廷国会审议通过了《阿根廷人自由基础和出发点法案》，该法案修订了几项现有法律，并创建了大型投资激励制度（“RIGI”，西班牙文缩写）。该法规于2024年7月8日生效。 RIGI 是一个适用于矿业板块的促进制度，为符合条件的项目提供监管、税收、海关和汇率稳定的担保，有效期为从纳入日期起的30年。2024年8月23日，国家政府发布了批准 RIGI 规定的第749号法令。 然而，RIGI 的某些方面的实施取决于进一步法规的发布。胡胡伊省（通过 2024年8月14日在官方公报上发布的法令第6409号），萨尔塔省（通过 2024年9月19日在官方公报上发布的法令第8451号）和卡塔马卡省（通过 2024年9月27日在官方公报上发布的法令5863号）已同意依从于 RIGI。公司目前正在进行分析，以判断 RIGI 对其自身业务的范围和应用。
2024年6月27日，阿根廷国会还通过了第27,743号法律《缓解性和重要税收措施》，其中包括将采矿提取矿石的每吨口岸价值交纳的最高赔偿比例从百分之三（3%）提高到百分之五（5%）。对尚未开始施工（即处于开发阶段或之前）的矿业项目，适用这项新的5%赔偿上限。因此，这不应适用于我们在阿根廷进行的运营和扩张项目，这些项目由我们的子公司MdA，SDV和SDJ管理并开发。萨尔塔省通过《第8,448号省法》在2024年9月19日的官方公报上实施了这项新法律。
在阿根廷和加拿大，我们目前专注于整合和优化Livent和Allkem的不同业务，旨在从成本和生产效率的角度进行。我们的扩张努力（现已暂停并根据
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资本支出和产能扩张进展比最初预期的更为缓慢且成本更高。我们正在调整扩张力度以适应市场条件、供应链挑战和当地劳动力市场的能力。尽管如此，我们打算在客户要求的时间内交付所需的额外产量。我们预期阿根廷的当前扩张工作不会受到卡塔马卡省开展的全面和累积环境研究的影响，该研究由省最高法院下令进行，考虑了该地区所有项目的累积效应。管理团队继续监测阿根廷邻近项目、地役权和土地权主张对我们的水资源和卤水权利、现有地役权和运营的累积影响。在阿根廷，涉及锂矿卤水和水等流体资源的竞争权利分配方面几乎没有法律先例，政府在这方面的跟踪记录也十分有限。管理团队还在监测我们的用水量与本地竞争对手之间的水平。
Generally, the global economy and business environment in the diverse group of markets we serve present us with various opportunities and challenges. The long-term demand for lithium products remains strong, driven by the increased adoption of EVs and other energy storage applications, providing us with the opportunity to continue to develop high performance lithium compound products and maintain our position as a leading global producer of butyllithium and high purity lithium metal. However, the current lithium market is characterized by overcapacity and overproduction, a slower rate of demand growth than in the recent past, strong competition, vertical integration by end users, geopolitical tensions over supply chains, and certain macroeconomic headwinds, resulting in lower pricing. Nevertheless, we believe our business fundamentals are sound and that we can manage the impact on our business of fluctuating lithium prices, inflation, high energy costs and shortages, supply chain disruptions, various global conflicts and regional challenges, higher interest rates, the strength of the U.S. dollar, and the corresponding weakening of foreign currencies. Given our extensive global capabilities, vast experience in the markets we serve, and deep customer relationships, we believe we are well positioned to capitalize on future business opportunities and the accelerating trend of electrification.
Customers in the EV manufacturing industry are positioning their businesses for continued expected growth in electrification, although at different rates around the globe. During the first three quarters of 2024, China EV adoption as evidenced by new car sales was at record levels, and battery installations exceeded many analysts’ expectations. In China, lithium iron phosphate (LFP) cathode-based batteries and plug-in electric hybrid vehicles (PHEVs) have increased their share in the chemistry and EV mix in recent quarters. EV sales in the European Union and the United States were below analysts' expectations during the first three quarters of 2024, but automakers expect to launch new attractive EV models during the fourth quarter of 2024 and in 2025, and expect support from lower battery prices. Globally, EV price reductions, particularly those of a few leading automakers, will likely continue to put commercial and financial pressures on several other automakers in the world's major EV markets. The rate of transition to electric drivetrains varies across automakers with several of them recently withdrawing their prior targets related to electrification, whereas others are fully committed to their prior electrification plans.
为了支持未来电动车和静态储能应用中不断增长的电池需求，电芯制造商、正极材料生产商和锂矿化学品生产商正在不同地理位置以不同速度增加产能。这些电芯、正极材料和锂矿化学品生产线的客户资格认证和推广以及供应链中的库存将进而决定整体锂消耗量。与供应链中游和下游部分的产能增加相比，上游电池原材料资源开发通常需要更长的时间。所有这些变数可能会继续为整体电动车和电池供应链增添不稳定性和不确定性，这可能会影响到我们的业务。这可能会导致我们客户对我们高性能锂化合物的需求延迟，从而对我们的业务和增长计划造成不利影响。
管理目前正在关注的主要事项包括：力拓交易的完成、与Allkem Livent合并相关的持续整合活动、我们正在进行的扩张项目的成本、进度和范围，以及我们决定暂停的项目；阿根廷、美国、英格兰等我们经营地的政治和经济发展情况（特别是美国11月的选举，以及可能导致的政府政策变化）；全球市场上电池级和总锂化合物的供求平衡；锂市场价格以及当前较低市场价格可能对收入和投资机会的影响；我们的生产边际成本；通货膨胀、利率和波动的外汇汇率，以及它们可能对我们的业务、客户（以及他们试图进行垂直整合和/或对供应商偏好）以及电动车等关键终端市场的负面影响；全球供应链和物流问题，以及我们交付产品和获取关键输入的能力；IRA对公司和客户需求的影响；全球能源供应问题和价格；各种全球冲突可能带来的潜在经济和地缘政治后果；美国、欧洲等地对电动车和其他产品的关税的定价、经济需求和地缘政治影响；气候变化的影响，包括野火、干旱和靠近或影响我们业务的降雨等气候事件、保险费、ESG合规成本和报告要求；以及我们业务附近的社区关系； 以及潜在的网络安全概念违规。

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2024年业务展望
对于合并的业务，我们预计销量将增加，而不包括Mt. Cattlin，在去年，这是由于新生产能力在年后半段的扩张。这导致了更高的碳酸锂和氢氧化锂销量，但由于2024年在Mt. Cattlin的减产，辉石精矿销量下降。我们对2024年余下部分的展望在很大程度上取决于我们锂产品的市场价格，这些价格在2023年第四季度大幅下降，低于整个2023财政年度的平均值，并最近进一步下降。这种不确定性在某种程度上由商业协议下的现有销量的定价机制降低。我们还预计成本将增加，与去年相比，来自新生产单位扩张的更高成本将被协同作用和节约成本举措抵消。
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The following Management Discussion and Analysis includes the results of predecessor Livent’s operations for three and nine months ended September 30, 2023 and as of December 31, 2023, which do not include the financial position or operations of Allkem.
RESULTS OF OPERATIONS
截至9月30日的三个月截至9月30日的九个月
2024
2023 (1)
2024
2023 (1)
LiventAllkemArcadiumLiventAllkemArcadium
（以百万计）（未经审计）
收入$146.5 $56.6 $203.1 $211.4 $475.9 $242.9 $718.8 $700.7 
销售成本87.2 59.7 146.9 83.6 273.3 202.5 475.8 258.4 
毛利率59.3 (3.1)56.2 127.8 202.6 40.4 243.0 442.3 
减值费用— 51.7 51.7 — — 51.7 51.7 
销售、一般和管理费用22.1 17.6 39.7 13.2 59.7 35.4 95.1 47.1 
研究和开发费用1.0 0.2 1.2 1.3 3.2 0.6 3.8 3.3 
重组和其他费用4.7 5.0 9.7 8.7 79.8 31.6 111.4 35.0 
总成本和支出115.0 134.2 249.2 106.8 416.0 321.8 737.8 343.8 
未合并关联公司的净亏损、利息收入、净额、债务清偿损失和其他收益中扣除权益的运营收入/（亏损） 31.5 (77.6)(46.1)104.6 59.9 (78.9)(19.0)356.9 
未合并子公司净亏损中的权益— 5.9 5.9 6.7 — 5.9 5.9 22.0 
利息支出/（收入），净额1.0 0.5 1.5 — 2.4 (21.2)(18.8)— 
债务清偿损失— — — — 0.2 0.9 1.1 — 
其他（收益）/损失(5.4)(39.4)(44.8)1.2 (29.9)(172.1)(202.0)(5.3)
所得税前运营收入/（亏损）35.9 (44.6)(8.7)96.7 87.2 107.6 194.8 340.2 
所得税（福利）/费用(33.4)9.3 55.7 47.8 
净收入24.7 87.4 139.1 292.4 
归属于非控股权益的净收益8.6 — 21.7 — 
归属于Arcadium锂业公司的净收益$16.1 $87.4 $117.4 $292.4 
_____________________
1.代表2023年9月30日结束的前身公司Livent的三个月和九个月的运营结果，以及2023年12月31日的情况，不包括Allkem的财务状况或运营情况。
除了根据美国通用会计准则确定的Arcadium锂矿有限公司归属于净利润外，我们还使用一些非通用会计准则的衡量指标来评估业务运营绩效，比如我们定义为Arcadium锂矿有限公司归属于净利润加上非控制权益，利息支出/（收入），净收入税（益）/支出，折旧和摊销；以及调整后的EBITDA，我们将EBITDA调整为考虑了阿根廷重估损失/（收益），减值损失，重组和其他费用，Allkem livent合并库存相关的准入调整，一次性蓝筹股调换收益和其他的损失/（收益）。管理层认为使用这些非通用会计准则的指标能够使管理层和投资者更容易地比较其基础业务的财务绩效。所提供的非通用会计准则信息可能与其他公司披露的类似指标不可比拟，因为其他公司在计算EBITDA和调整后的EBITDA时采用不同的方法。这些指标不应被视为根据美国通用会计准则报告的净利润或其他绩效或流动性指标的替代品。下表对比了EBITDA和调整后的EBITDA与归属于Arcadium锂矿有限公司的净利润。
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截至9月30日的三个月截至9月30日的九个月
2024
2023 (1)
2024
2023 (1)
liventAllkem”和力拓发布联合新闻稿，宣布进入交易协议（简称“liventAllkemArcadium
（数以百万计）(未经审计)
税前营业收入/(亏损)$35.9 $(44.6)$(8.7)$96.7 $87.2 $107.6 $194.8 $340.2 
增加回来:
利息支出/(收益)，净额0.9 0.6 1.5 — 2.3 (21.1)(18.8)— 
折旧和摊销16.1 10.2 26.3 7.7 39.6 28.2 67.8 21.5 
EBITDA（非GAAP） 52.9 (33.8)19.1 104.4 129.1 114.7 243.8 361.7 
增加回来:
阿根廷再衡量损失/(盈利) (a)
5.2 (35.3)(30.1)11.6 0.8 (127.1)(126.3)20.5 
减值损失 (b)
— 51.7 51.7 — — 51.7 51.7 — 
重组和其他费用 (c)
4.7 5.0 9.7 8.7 79.8 31.6 111.4 35.0 
债务摊销亏损 (d)
— — — — 0.2 0.9 1.1 — 
库存增值，Allkem Livent合并 (e)
— 0.5 0.5 — — 21.0 21.0 — 
其他损失/收益 (f)
2.5 (1.5)1.0 5.0 6.0 (12.4)(6.4)15.8 
减去：— .
蓝筹股交换获利 (g)
(8.7)— (8.7)(10.0)(26.5)(18.7)(45.2)(21.4)
阿根廷利息收入 (h)
(0.3)— (0.3)— (0.3)— (0.3)— 
调整后EBITDA(非GAAP)$56.3 $(13.4)$42.9 $119.7 $189.1 $61.7 $250.8 $411.6 
___________________
1.代表了前身livent截至2023年9月30日和2023年12月31日的三个和九个月的运营结果，不包括Allkem的财务状况或经营情况。
a.主要代表货币波动对递延所得税资产和负债的影响。还包括货币波动对其他税收资产和负债以及与我们资本扩张相关的长期货币资产以及外币贬值的影响。复核损失/（收益）包括在我们的简明合并利润表中的其他（收益）/损失中，但由于以下原因，它们被排除在我们的调整后的EBITDA计算之外：i.）其作为与所得税相关的性质；ii.）它们与长期资本项目的关联，这些项目直到未来时期才开始运营；或iii.）贬值的严重程度及其对我国业务的立即影响。
b.2024年第三季度，公司计划将其在澳洲西部的Mt Cattlin辉钾矿控件置于护理和维护中，导致截至2024年9月30日的三个月和九个月内出现了5170万美元的非现金支出，并记录在精简综合经营报表的减值损失中(更多信息请参见第10注)。减值损失被排除在我们计算的调整后息税折旧及摊销前利润中，因为这些费用是非经常性的。
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 includes severance-related costs of $14.7 million and $2.4 million, respectively (see Note 11 for more information).
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 (see Note 9 for more information).
g.代表阿根廷比索出售阿根廷主权美元债券所获得的非经常性收益，由于阿根廷蓝筹股交换市场汇率与官方汇率产生分歧。
h.代表我们从阿根廷政府获得的利息收入，该收入始于阿根廷政府批准我们部分与扩张相关的增值税应收款项的收回性，并终止于退款日期。
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由阿根廷政府支付，但由于与将来期间不会投入运营的长周期资本项目有关，因此被排除在我们的调整后EBITDA计算之外。

2024年9月30日结束的三个月与2023年9月30日结束的三个月相比
营业收入    
2024年9月30日结束的三个月，营业收入为20310万美元，较2023年9月30日结束的三个月的21140万美元减少约4%，或830万美元，主要是由于锂矿氢氧化物销量减少1060万美元以及所有livent历史产品的价格降低约5430万美元，部分抵消的收入是Allkem合并后贡献的5660万美元。
毛利率
2024年第二季度的毛利为5620万美元，较2023年第二季度的12780万美元减少7160万美元，约为56.0%。毛利的减少主要是由于所有传统livent产品的价格降低对毛利的影响达5430万美元和营运成本增加1150万美元，以及锂矿氢氧化锂的销量减少280万美元，并且由于Allkem合并后毛利损失310万美元的影响。
减值损失
2024年第一季度的5170万美元减值费用是由于公司计划于2025年上半年完成第3阶段采矿和矿石加工后，将Mt Cattlin辉钼矿控件置于护理和维护状态，导致长期资产减值。有关详细信息，请参阅附注10。2023年第一季度未记录任何减值费用。
销售，总务及管理费用
2024年第四季度的销售、一般和管理费用为3970万美元，同比增加2650万元，增幅约为201%，而2023年第四季度的费用为1320万美元。销售、一般和管理费用的增加主要是由于Allkem发帖并购成本1760万美元，以及2024年第四季度将Nemaska锂矿的490万美元合并基础上推迟一个季度。
重组和其他费用
2024年第四季度的重组及其他费用为970万美元，较2023年第四季度的870万美元增加了100万美元。2024年第四季度的重组及其他费用主要包括与Allkem Livent合并有关的1220万美元成本，以及60万美元的离职相关费用。2023年第四季度的重组及其他费用主要包括与Allkem Livent合并相关的1360万美元成本以及Bessemer City工厂火灾保险赔偿收益的500万美元（详见第11注）。
未合并子公司净亏损中的权益
2024年第四季度，未合并隐形股东公司的净亏损为590万元，这是我们在TLC的经济利益所产生的，TLC经营Naraha工厂，并将其视为股权法下的投资。2023年第四季度，未合并隐形股东公司的净亏损为670万元，这是我们对Nemaska锂矿项目的所有权利益所引起的，其持股比例为50％，并被视为2023年第四季度的股权法下的投资，代表了Arcadium承担Nemaska锂矿项目在Bécancour, Québec建设锂水氧化物转化工厂的相关成本的50％份额（详细信息请参阅注释9）。Nemaska锂矿项目对2024年第四季度的情况滞后一个季度才进行合并。
所得税（福利）/费用
2024年第一季度的所得税减免额为3340万美元，导致有效税率达到383.9%，相比于2023年第一季度的所得税支出为930万美元，导致有效税率为9.6%，主要由于营运收入预期减少。此外，在2024年第一季度，蒙特卡特琳锂辉石控件出现的减值损失录得了1550万美元的税收减免。 更多详情请参阅附注10。 阿根廷外汇波动导致的所得税减免在2024年第一季度和2023年第一季度相似。 2024年第一季度录得的收益为1110万美元，而2023年第一季度为1150万美元。
净利润
2024年第四季度的净利润为2470万美元，较2023年第四季度的8740万美元下降6270万美元，约为71.7%。主要是由于7160万美元的毛利率下降，2024年第四季度的减值损失为5170万美元，以及2650万美元的较高销售总务费用，部分抵消的主要是
54


外币重估收益，我们对阿根廷主权美元债券出售所得的收益，以及2024季度的所得税益。

调整后 EBITDA
截至2024年9月30日三个月的调整后的EBITDA为4290万元，较2023年9月30日三个月的11970万元下降7670万元，主要是由于所有传统livent产品的价格下跌造成的5430万元减少以及不计折旧的较高运营成本310万元，以及由锂氢氧化物驱动的较低销量280万美元，以及Allkem合并后亏损1400万元的影响。
2024年9月30日结束的九个月，与2023年9月30日结束的九个月相比
Revenue    
Revenue of $718.8 million for the nine months ended September 30, 2024 (the "2024 YTD") increased by approximately 2.6%, or $18.1 million, compared to $700.7 million for the nine months ended September 30, 2023 (the "2023 YTD") primarily due to revenues contributed by Allkem post-merger of $242.9 million, partially offset by lower pricing across all legacy Livent products of $213.1 million and lower volumes of $11.7 million primarily driven by lithium hydroxide volumes.
Gross margin
Gross margin of $243.0 million for the 2024 YTD decreased by $199.3 million, or approximately 45%, versus $442.3 million for the 2023 YTD. The decrease in gross margin was primarily due to the impact of lower pricing across all legacy Livent products of $213.1 million as well as higher operating costs of $33.1 million, partially offset by volumes mix of $6.4 million and impact from Allkem post-merger of $40.4 million.
Impairment charges
Impairment charges of $51.7 million for the 2024 YTD were due to the impairment of long-lived assets resulting from the plan by the Company to place the Mt Cattlin spodumene operation into care and maintenance by the end of the first half of 2025 after it completes Stage 3 mining and ore processing. See Note 10 for details. No impairment charges were recorded in the 2023 YTD.
Selling, general and administrative expenses
Selling, general and administrative expenses of $95.1 million for the 2024 YTD increased by $48.0 million, or approximately 101.9% versus $47.1 million for the 2023 YTD. The increase in selling, general and administrative expenses was primarily due to impact from Allkem post-merger of $35.4 million and $13.2 million related to consolidation of Nemaska Lithium on a one-quarter lag basis in the 2024 Quarter.
Restructuring and other charges
Restructuring and other charges of $111.4 million for the 2024 YTD increased by $76.4 million versus $35.0 million for the 2023 YTD. Restructuring and other charges for the 2024 YTD primarily consisted of $99.0 million of costs related to the Allkem Livent Merger, and $14.7 million severance related charges. 2023 YTD Restructuring and other charges consisted primarily of costs related to the Allkem Livent Merger of $32.3 million and the Bessemer City plant fire insurance recovery gain of $5.0 million (see Note 11 for details).
Equity in net loss of unconsolidated affiliate
Equity in net loss of unconsolidated affiliate of $5.9 million for the 2024 YTD arises out of our economic interest in TLC, which operates the Naraha plant and is accounted for as an equity method investment. Equity in net loss of unconsolidated affiliate of $22.0 million for the 2023 YTD arises out of our ownership interest in the Nemaska Lithium Project, which is 50% and was accounted for as an equity method investment for the 2023 YTD, representing Arcadium's 50% share of project-related costs incurred by the Nemaska Lithium Project for continuing construction of the lithium hydroxide conversion plant in Bécancour, Québec (see Note 9 for details). Nemaska Lithium was consolidated on a one-quarter lag basis for the 2024 YTD.
Income tax expense
The income tax expense for the 2024 YTD is $55.7 million resulting in an effective tax rate of 28.6%, compared to the income tax expense of $47.8 million resulting in an effective tax rate of 14.1% for the 2023 YTD. The income tax expense increased for the 2024 YTD due to an increase in fluctuations in foreign currency impacts in Argentina of $113.4 million and $(12.0) million for the 2024 YTD and 2023 YTD, respectively. In addition, the increase in income tax expense is due to changes in forecasted jurisdictional mix of earnings where the statutory rate differs from the U.S. federal statutory rate. The increase in income tax expense was offset by the impact of the decrease in income from operations, along with changes in
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valuation allowance on the net deferred tax assets in Argentina of $(77.2) million, primarily relating to the fluctuations in foreign currency impacts in Argentina. Additionally, a tax benefit of $15.5 million was recorded on the impairment charge for the Mt. Cattlin spodumene operation in the 2024 YTD. See Note 10 for details.
Net income
Net income of $139.1 million for the 2024 YTD decreased $153.3 million, or approximately 52%, versus $292.4 million for the 2023 YTD. The decrease was primarily due to lower gross margin of $199.3 million, higher Restructuring and other charges of $76.4 million and higher selling general and administrative expenses of $48.0 million, partially offset by foreign currency remeasurement gains and gain from our sale of Argentina Sovereign U.S. dollar-denominated bonds, interest income, net in the 2024 YTD and $22.0 million equity in net loss of unconsolidated affiliate in the 2023 YTD compared to $5.9 million in the 2024 YTD.
Adjusted EBITDA
Adjusted EBITDA of $250.8 million for the nine months ended September 30, 2024 decreased $160.7 million, compared to $411.6 million for the nine months ended September 30, 2023, primarily due to lower revenues due to lower pricing of $213.1 million across all legacy Livent products and higher cost of $15.2 million excluding depreciation, partially offset by favorable volumes mix of $6.4 million and the impact from Allkem post-merger contribution of $61.1 million.
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LIQUIDITY AND CAPITAL RESOURCES
Our prospective success in funding our cash needs will depend on the strength of the lithium market and our continued ability to generate cash from operations and raise capital from other sources. Our primary sources of cash are currently generated from operations and borrowings under our Revolving Credit Facility. Pursuant to the Rio Tinto Transaction Agreement, while the Rio Tinto Transaction is pending, we are restricted or prohibited from certain non-ordinary course capital expenditures without the consent of Rio Tinto. Additionally, during that same time, we are subject to various restrictions under the Rio Tinto Transaction Agreement on raising additional capital, issuing additional equity or debt, and pursuing certain activities that could use significant amounts of our liquidity, including assuming or incurring additional debt, repurchasing equity, and entering into certain acquisition and disposition transactions, among other restrictions without the consent of Rio Tinto, which is not to be unreasonably withheld. We are permitted to continue to borrow under our Revolving Credit Facility, under existing project financing arrangements, and in connection with letters of credit entered into in the ordinary course of business. Rio Tinto has agreed to cooperate with the Company to facilitate any necessary or appropriate actions and arrangements with respect to the Company's indebtedness in anticipation of the Rio Tinto Transaction, including potentially providing new financing or otherwise.
Arcadium's cash and cash equivalents as of September 30, 2024 and December 31, 2023, were $137.9 million and $237.6 million, respectively. The balance as of December 31, 2023 represents only predecessor Livent cash and cash equivalents. Of the cash and cash equivalents balance as of September 30, 2024, $126.2 million were held by our foreign subsidiaries, including $84.6 million at partially-owned subsidiaries. The cash held by foreign subsidiaries for permanent reinvestment is generally used to finance the subsidiaries’ operating activities and future foreign investments. We have not provided additional income taxes for any additional outside basis differences inherent in our investments in subsidiaries that are considered permanently reinvested. For those earnings that are not considered permanently reinvested, we have recorded the associated tax expense related to the repatriation of those earnings, where appropriate. See Note 11, Part II, Item 8 of our 2023 Annual Report on Form 10-K for more information.
Statement of Cash Flows
Cash (used in)/provided by operating activities was $(158.9) million and $261.8 million for the 2024 YTD and 2023 YTD, respectively.
The decrease from cash used in operating activities for the 2024 YTD as compared to the cash provided by operating activities for the 2023 YTD was primarily driven by a decrease in net income, an increase in inventories and an increase in cash tax payments for income taxes, net of refunds.
Cash used in investing activities was $129.8 million and $315.5 million for the 2024 YTD and 2023 YTD, respectively.
The decrease in cash used in investing activities for the 2024 YTD compared to the 2023 YTD is primarily due to the $682 million cash acquired in the Allkem Livent Merger and $64.9 million in net cash proceeds from the Blue Chip Swap trades in 2024 YTD compared to $21.4 million for the 2023 YTD, partially offset by an increase in capital expenditures due to the consolidation of Nemaska Lithium and increased spend on expansion projects due to the Allkem Livent Merger in the 2024 YTD.
Cash provided by/(used in) financing activities was $203.1 million and $(21.5) million for the 2024 YTD and 2023 YTD, respectively.
The increase from cash provided by financing activities for the 2024 YTD compared to cash used in financing activities for the 2023 YTD is primarily due to the receipt of a customer prepayment of $150 million related to the Nemaska customer supply agreement (see Note 9 for details), an increase in net proceeds from the Company's Revolving Credit Facility of $99 million in 2024 YTD and cash contributions of $39.1 million from the noncontrolling interest in Nemaska Lithium, on a one-quarter lag, in 2024 YTD (see Note 9 for details), partially offset by $83.2 million for repayment of the SDV Project Financing Facility in its entirety and partial repayment of the Olaroz Plant Project Loan Facility in 2024 YTD and the net impact of a $21.7 million payment of deposit to Argentina Customs Authorities in 2023 YTD.
Other potential liquidity needs
We plan to meet our liquidity needs, including those related to the consummation of the Rio Tinto Transaction, through available cash, cash generated from operations, borrowings under the committed Revolving Credit Facility, and other potential financing strategies that may be available to us. Broadly, we are attempting to have our expansion activities be supported by the cash generated from our operations over time, although this may not be possible in the short-term, particularly in light of current lithium pricing. We have decided to reduce our capital spending plan to better align it with our anticipated cash generation. See "Capital spending and capacity expansions" for additional detail. As of September 30, 2024, our remaining borrowing capacity under our Revolving Credit Facility, subject to meeting our debt covenants, is $380.3 million, including letters of credit utilization.
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We repaid the $9.1 million outstanding principal balance on Stage 1 of the Olaroz Plan Project Loan Facility in its entirety in the third quarter of 2024. We repaid the $47.0 million outstanding principal balance of the SDV Project Financing Facility in the second quarter of 2024.
Our net leverage ratio under our Revolving Credit Facility is determined, in large part, by our ability to manage the timing and amount of our capital expenditures, which is within our control. It is also determined by our ability to achieve forecasted operating results and to pursue other working capital financing strategies that may be available to us, which is less certain and outside our control.
There continue to be challenges relating to expansion projects impacting both Argentina and Canada, including design and timeline modifications, labor constraints, and material shortages due to supply chain issues. This has the potential to increase costs, extend delivery times versus expectations, and reduce expected merger synergies.
We will look to various sources of financing for development of the Nemaska Lithium Project, in which we have a 50% economic interest, including, but not limited to third-party debt financing, government funding, financing or prepayments from customers and contribution from existing shareholders.
We expect the potential economic and geopolitical consequences of various global conflicts, volatile energy costs and shortages, inflation, high interest rates, and currency fluctuations to continue in the second half of 2024. The Company remains focused on maintaining its financial flexibility and will continue to manage its cash flow and capital allocation decisions to navigate through this challenging environment.
We believe that our available cash and cash from operations, together with our borrowing availability under the Revolving Credit Facility and other potential financing strategies that may be available to us, will provide adequate liquidity for the next 12 months. Access to capital and the availability of financing on acceptable terms in the future will be affected by many factors, including our credit rating, economic conditions and the overall liquidity of capital markets and cannot be guaranteed.
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 
Other5.2 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
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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. See Note 9 for details. 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. See Note 15 for details.
Commitments and Contingencies
See Note 20 to the condensed consolidated financial statements included in this Quarterly Report on Form 10-Q.
Contractual Obligations and Commercial Commitments
Information related to predecessor Livent contractual commitments as of December 31, 2023 can be found in a table included within Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations within our 2023 Annual Report on Form 10-K.
Arcadium's significant commitments assumed on the Acquisition Date related to the Allkem Livent Merger include payments of $1.3 million for the remainder of 2024 and $0.9 million for each of the years 2025 through 2028 for exploration and payments of $4.9 million, $13.0 million, $12.6 million and $5.8 million for raw materials and other operating contracts in the ordinary course of business for the remainder of 2024, 2025, 2026 and 2027, respectively.
Climate Change
A detailed discussion related to climate change can be found in Part II, Item 7 of our 2023 Annual Report on Form 10-K.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.
Critical Accounting Estimates
In addition to those described in Item 7 of our 2023 Annual Report on Form 10-K, we have identified "Resources", "Inventory", "Depreciation and amortization" and "Goodwill" as Critical Accounting Estimates following the Allkem Livent Merger.
Resources
We report resources in accordance with the SEC's definition set forth in Subpart 1300 of Regulation S-K. As such, our resources are the concentration or occurrence of lithium in such form, grade or quality, and quantity that there are reasonable prospects for economic extraction. Our mineral resource estimates provide a reasonable estimate of mineralization, taking into account relevant factors such as cut-off grade, likely mining dimensions, location or continuity, that, with the assumed and justifiable technical and economic conditions, is likely to, in whole or in part, become economically extractable. The determination of resources includes estimates and assumptions about a range of geological, technical and economic factors, including: quantities, grades, production techniques, recovery rates, production costs, transport costs, commodity demand, commodity prices and exchange rates. Changes in resources impact the assessment of recoverability of exploration and evaluation assets, property, plant and equipment, the carrying amount of assets depreciated on a units of production basis, provision for site restoration and the recognition of deferred tax assets, including tax losses. Estimating the quantity and/or grade of resources requires the size, shape and depth of ore or brine bodies to be determined by analyzing geological data. This process requires complex and difficult geological judgements to interpret the data. Additional information on the Arcadium’s reserves and resources are found in Item 2, Mineral Properties, of our 2023 Annual Report on Form 10-K.
Estimates of resources may change from period to period as the economic assumptions used to estimate resource change and additional geological data is generated during the course of operations. Changes in resources may affect the Company’s financial results and financial position in a number of ways, including:
•asset carrying values may be affected due to changes in estimated future production levels,
•depreciation, depletion and amortization charged in the statement of operations may change where such charges are determined on the units of production basis, or where the useful economic lives of assets change,
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•decommissioning, site restoration and environmental provisions may change where changes in estimated resources affect expectations about the timing or cost of these activities,
•the carrying amount of deferred tax assets may change due to changes in estimates of the likely recovery of the tax benefits.
Inventory
Inventories are stated at the lower of cost or net realizable value. Determination of the brine pond volumes and spodumene stockpiles is based on surveys, assays and technical studies using industry, engineering and scientific data. A degree of judgment is involved in determining assumptions and estimates.
Depreciation and amortization
Costs incurred to develop new properties are capitalized as incurred where the property can be economically developed based on proven and probable reserves. For properties which employ surface mining techniques, this includes the costs to delineate ore bodies and remove over burden to initially expose the ore body prior to the commencement of commercial production. After the commencement of commercial production, costs of major mine development that benefit the entire ore body are capitalized and amortized over the proven and probable reserves of the entire ore body. If costs relate to access specific pits, they are capitalized and amortized over the proven and probable reserves specific to that pit.
The calculation of the units of production rate of amortization could be impacted if actual production in the future is different from current production forecast based on proven and probable reserves. This may occur if there were significant changes in the reserves driven by changes in commodity price assumptions, production costs, ore grades, foreign currency exchange rates and potential expansion of the reserves and resources through exploration activities. If reserves increased, the amortization charge per unit would decrease and if reserves decreased the amortization charge per unit would increase.
Impairments and valuation of long-lived assets and equity method investments
Our long-lived assets primarily include property, plant and equipment and intangible assets. We periodically evaluate whether events or circumstances ("triggering events") indicate that the net book value of our property, plant and equipment may not be recoverable. In addition, we periodically evaluate if facts and circumstances indicate that a decrease in value of our equity method investments has occurred that is other than temporary. We exercise significant judgment in performing these evaluations, considering factors such as general market outlooks, company-specific historical results as well as future forecasts for production, operating income and cash flows.
In the third quarter of 2024, as a result of the plan to place Mt Cattlin spodumene operations into care and maintenance, the Company determined that there were indicators of impairment and upon evaluation using the income approach, the Company determined the undiscounted cash flows of Mt Cattlin's assets were not greater than their carrying value, resulting in a non-cash charge of $51.7 million for the three months ended September 30, 2024, recorded to Impairment charges in the condensed consolidated statement of operations. See Note 10 for details.
Goodwill
We account for goodwill acquired in a business combination in conformity with current accounting guidance, which requires goodwill not be amortized.
Under that 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 segment 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. Judgment is required to determine reporting units. In applying the goodwill impairment test, a qualitative test ("Step 0") is initially performed, where qualitative factors are first 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 "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. Future cash flows for all reporting units include assumptions about revenue growth rates, adjusted EBITDA margins, discount rate as well as other economic or industry-related factors. Significant management judgment is involved in estimating these variables and they include inherent uncertainties since they are forecasting future events. The Company tests its recorded goodwill for impairment in the fourth quarter of each year or upon the occurrence of events or changes in circumstances that would more likely than not reduce the fair value of its reporting units below their carrying amounts.
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DERIVATIVE FINANCIAL INSTRUMENTS AND MARKET RISKS
Our earnings, cash flows and financial position are exposed to market risks relating to fluctuations in commodity prices, interest rates and foreign currency exchange rates. Our policy is to minimize exposure to our cash flow over time caused by changes in interest and currency exchange rates. To accomplish this, we have implemented a controlled program of risk management consisting of appropriate derivative contracts entered into with major financial institutions.
The analysis below presents the sensitivity of the market value of our financial instruments to selected changes in market rates and prices. The range of changes chosen reflects our view of changes that are reasonably possible over a one-year period. Market value estimates are based on the present value of projected future cash flows considering the market rates and prices chosen.
As of September 30, 2024, our net derivative financial instrument position was a net asset of $0.4 million. In the first half of 2024, we placed foreign currency hedges for 2024 projected exposure.
Foreign Currency Exchange Rate Risk
Our worldwide operations expose us to currency risk from sales, purchases, expenses and intercompany loans denominated in currencies other than the U.S. dollar, our functional currency. 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. Foreign currency debt and foreign exchange forward contracts are used in countries where we do business, thereby reducing our net asset exposure. Foreign exchange forward contracts are also used to hedge firm and highly anticipated foreign currency cash flows. 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.
To analyze the effects of changing foreign currency rates, we have performed a sensitivity analysis in which we assume an instantaneous 10% change in the foreign currency exchange rates from their levels as of September 30, 2024 with all other variables (including interest rates) held constant.
Hedged Currency vs. Functional Currency
(in Millions)Net asset position on condensed consolidated balance sheetsNet liability position with 10% strengtheningNet asset position with 10% weakening
Net asset/(liability) position as of September 30, 2024
$0.4 $(0.7)$1.3 
Interest Rate Risk
One of the strategies that we can use to manage interest rate exposure is to enter into interest rate swap agreements. In these agreements, we agree to exchange, at specified intervals, the difference between fixed and variable interest amounts calculated on an agreed-upon notional principal amount. As of September 30, 2024, we had no material interest rate swap agreements.
Our debt portfolio as of September 30, 2024 is composed of fixed-rate and variable-rate debt, consisting of borrowings under our 2025 Notes, Revolving Credit Facility and two project level debt facilities and eleven affiliate loans assumed in the Allkem Livent Merger. Changes in interest rates affect different portions of our variable-rate debt portfolio in different ways. As of September 30, 2024, we had $99.0 million in outstanding balances under the Revolving Credit Facility.
Based on the variable-rate debt in our debt portfolio at September 30, 2024, a one percentage point increase or decrease in interest rates would have increased or decreased, respectively, gross interest expense by $0.3 million for the nine months ended September 30, 2024.

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ITEM 3.    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
The information required by this item is provided in "Derivative Financial Instruments and Market Risks," under Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations.

ITEM 4.    CONTROLS AND PROCEDURES
(a) Evaluation of disclosure controls and procedures. Based on management’s evaluation (with the participation of the Company’s Chief Executive Officer and Chief Financial Officer), the Chief Executive Officer and Chief Financial Officer have concluded that, as of September 30, 2024, the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) are effective to provide reasonable assurance that information required to be disclosed by the Company in reports filed or submitted under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and is accumulated and communicated to management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.
(b) Changes in Internal Control over Financial Reporting. Except as noted below, there were no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) during the period covered by this Quarterly Report on Form 10-Q that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Effective January 4, 2024, we completed the Allkem Livent Merger. We are in the process of integrating Allkem’s processes and controls over financial reporting. In accordance with our integration efforts, we plan to incorporate Allkem’s operations into our internal control over financial reporting program within the time provided by the applicable rules and regulations of the U.S. Securities and Exchange Commission.






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PART II - OTHER INFORMATION
 
ITEM 1.    LEGAL PROCEEDINGS
We are involved in legal proceedings from time to time in the ordinary course of our business, including with respect to workers’ compensation matters. Based on information currently available and established reserves, we have no reason to believe that the ultimate resolution of any known legal proceeding will have a material adverse effect on our financial position, liquidity or results of operations. However, there can be no assurance that the outcome of any such legal proceeding will be favorable, and adverse results in certain of these legal proceedings could have a material adverse effect on our financial position, results of operations in any one reporting period, or liquidity. Except as set forth in Note 20 to our condensed consolidated financial statements, which is incorporated herein by reference to the extent applicable, there are no material changes from the legal proceedings previously disclosed in our 2023 Annual Report on Form 10-K.

ITEM 1A.    RISK FACTORS
In addition to the other information set forth in this Quarterly Report on Form 10-Q, you should carefully consider the risk factors discussed in Part I, Item 1A of our 2023 Annual Report on Form 10-K, which is available at www.sec.gov and on our website at www.arcadiumlithium.com. Other than the risk factors set forth below, we do not believe that there have been material changes in the risk factors set forth in our 2023 Annual Report on Form 10-K. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may adversely affect our business, financial condition or future results.
Risks Relating to the Rio Tinto Transaction:
The completion of the Rio Tinto Transaction contemplated by the Rio Tinto Transaction Agreement is subject to a number of conditions, and the Rio Tinto Transaction Agreement may be terminated in accordance with its terms. As a result, the timing surrounding the closing of the Rio Tinto Transaction is uncertain and there is a risk that the Rio Tinto Transaction may not be completed.
On October 9, 2024, we entered into the Rio Tinto Transaction Agreement with Rio Tinto. The Rio Tinto Transaction Agreement provides that pursuant to the Scheme under the Companies (Jersey) Law 1991, at the effective time, all of our ordinary shares, par value $1.00 per share (the "Company Shares"), including the Company Shares represented by CHESS depositary interests issued by us and listed on the securities exchange operated by ASX Limited, then outstanding will be transferred from our shareholders to Buyer (or an affiliate of Buyer designated by Buyer in accordance with the terms of the Scheme) in exchange for the right to receive an amount in cash, without interest, equal to $5.85 per Company Share.
The completion of the Rio Tinto Transaction is subject to the satisfaction or waiver of a number of conditions as set forth in the Rio Tinto Transaction Agreement, including, among others: the approval of the Scheme by the our shareholders; all applicable governmental consents under specified antitrust and investment screening laws having been obtained and remaining in full force and effect and all applicable waiting periods having expired, lapsed or been terminated (as applicable); no governmental entity of a competent jurisdiction having issued any order that is in effect and restrains, enjoins or otherwise prohibits the consummation of the Rio Tinto Transaction and no governmental entity having jurisdiction over any party having adopted any law that is in effect and makes consummation of the Rio Tinto Transaction illegal or otherwise prohibited; the representations and warranties of each of the Company and Parent being true and correct to the extent required by, and subject to the applicable materiality standards set forth in, the Rio Tinto Transaction Agreement; each of the Company, Parent and Buyer having in all material respects performed the obligations and complied with the covenants required to be performed or complied with by it under the Rio Tinto Transaction Agreement; and there having been no material adverse effect (as defined in the Rio Tinto Transaction Agreement). The timing surrounding whether these conditions will be satisfied or waived, if at all, is uncertain. Additionally, other events could intervene to delay or result in the failure to close the Rio Tinto Transaction.
If the Rio Tinto Transaction has not closed by October 9, 2025 (subject to extension until April 9, 2026 in order to obtain antitrust or investment screening law or other regulatory approvals), either we or Parent may choose to terminate the Rio Tinto Transaction Agreement. However, this right to terminate the Rio Tinto Transaction Agreement will not be available to us or Parent if such party has materially breached the Rio Tinto Transaction Agreement and the breach is the principal cause of the failure of the closing to have occurred prior to such date. We or Parent may elect to terminate the Rio Tinto Transaction Agreement in certain other circumstances, including if our shareholders fail to approve the Rio Tinto Transaction at the shareholder meeting, and we and Parent can mutually decide to terminate the Rio Tinto Transaction Agreement at any time prior to the closing, before or after the required approval by our shareholders.

The termination of the Rio Tinto Transaction Agreement could negatively impact us and, in certain circumstances, could require us to pay a termination fee to Rio Tinto.
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If the Rio Tinto Transaction Agreement is terminated in accordance with its terms and the Rio Tinto Transaction is not completed, our ongoing business may be adversely affected by a variety of factors, including the failure to pursue other beneficial opportunities during the pendency of the Rio Tinto Transaction, the failure to obtain the anticipated benefits of completing the Rio Tinto Transaction, the payment of certain costs relating to the Rio Tinto Transaction and the focus of our management on the Rio Tinto Transaction for an extended period of time rather than on ongoing business matters or other opportunities or issues. Our stock price may fall as a result of any such termination, to the extent that the current price of our shares reflects a market assumption that the Rio Tinto Transaction will be completed (although this is difficult to predict with any certainty). In addition, the failure to complete the Rio Tinto Transaction may result in negative publicity or a negative impression of us in the investment community and may affect our relationship with employees, customers, suppliers, vendors and other partners.
We may be required to pay Rio Tinto a termination fee equal to $200 million if the Rio Tinto Transaction Agreement is terminated under certain circumstances specified in the Rio Tinto Transaction Agreement relating to, among other things, if our board of directors changes its recommendation that our shareholders vote in favor of the Rio Tinto Transaction or if there is an intentional and material breach of certain provisions of the Rio Tinto Transaction Agreement by us. Further, we will also be required to pay Rio Tinto the $200 million termination fee if the Rio Tinto Transaction Agreement is terminated under certain circumstances specified in the Rio Tinto Transaction Agreement after we receive a competing transaction proposal, and, within 12 months after the date of termination, we enter into a definitive agreement with respect to, or consummate, a change of control transaction with any party. If the Rio Tinto Transaction Agreement is terminated and we determine to seek another business combination or strategic opportunity, we may not be able to negotiate a transaction with another party on terms comparable to, or better than, the terms of the Rio Tinto Transaction.
The pendency of the Rio Tinto Transaction could adversely affect our business, results of operations, and financial condition.
The pendency of the Rio Tinto Transaction could cause disruptions in and create uncertainty surrounding our business, including by affecting our relationships with our existing and future customers, suppliers, vendors, partners, and employees, and our standing with local communities, regulators, and other government officials. This could have an adverse effect on our business, results of operations and financial condition, as well as the market price of our shares, regardless of whether the Rio Tinto Transaction is completed. In particular, we could potentially lose important personnel who decide to pursue other opportunities as a result of the Rio Tinto Transaction. Any adverse effect could be exacerbated by a prolonged delay in completing the Rio Tinto Transaction. We could also potentially lose customers, suppliers or vendors, existing customers, suppliers or vendors may seek to change their existing business relationships or renegotiate their contracts with us or defer decisions concerning us and potential customers, suppliers, or vendors could defer entering into contracts with us, each as a result of uncertainty relating to the Rio Tinto Transaction. In addition, in an effort to complete the Rio Tinto Transaction, we have expended, and will continue to expend, significant management resources on matters relating to the Rio Tinto Transaction, which are being diverted from our day-to-day operations, and significant demands are being, and will continue to be, placed on our managerial, operational and financial personnel and systems in connection with efforts to complete the Rio Tinto Transaction.
While the Rio Tinto Transaction Agreement is in effect, we are subject to restrictions on our conduct and business activities, which could adversely affect our business, financial results, financial condition or share price.
Under the Rio Tinto Transaction Agreement, we are subject to a range of restrictions on the conduct of our business and generally must operate our business in the ordinary course of business consistent with past practice prior to completing the Rio Tinto Transaction. These restrictions may constrain our ability to pursue certain business strategies. The restrictions may also prevent us from pursuing otherwise attractive business opportunities, making acquisitions and investments or making other changes to our business prior to the completion of the Rio Tinto Transaction or the termination of the Rio Tinto Transaction Agreement. Any such lost opportunities may reduce our competitiveness or efficiency and could lead to an adverse effect on our business, financial results, financial condition or our share price.
The Rio Tinto Transaction Agreement contains restrictions on our ability to pursue alternatives to the Rio Titno Transaction, which may limit the value that our shareholders could receive from a transaction.
The Rio Tinto Transaction Agreement generally prohibits us, subject to certain exceptions, from initiating, soliciting, knowingly encouraging or otherwise knowingly facilitating any inquiries or the making of any contract, proposal, offer or indication of interest that constitute or would reasonably be expected to lead to any competing transaction proposal.

Further, subject to limited exceptions and consistent with applicable law, the Rio Tinto Transaction Agreement probits our board of directors from changing, withholding, withdrawing, qualifying or modifying, in a manner adverse to the Parent, its recommendation that our shareholders approve the Rio Tinto Transaction and, in specified circumstances, the Parent and Buyer
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have a right to negotiate with us in order to match any competing transaction proposal that may be made. Although our board of directors is permitted to take certain actions in response to a superior transaction proposal or a competing transaction proposal that would reasonably be expected to result in a superior transaction proposal if it determines that the failure to do so would likely breach its statutory and fiduciary duties under applicable law, in specified situations, we may still be required to pay Rio Tinto a termination fee of $200 million. These provisions may limit our ability to pursue offers from third parties that could result in greater value to our shareholders than they would receive in the Rio Tinto Transaction. The $200 million termination fee may also discourage third parties from pursuing an acquisition proposal with respect to us.
There may be shareholder class actions or derivative actions, which could result in substantial costs and may delay or prevent the Rio Tinto Transaction from being completed.
Shareholder class action lawsuits or derivative lawsuits are often brought against companies that have entered into transaction agreements. Such litigation can be costly and time consuming and can create uncertainty. Even if the lawsuits are without merit, defending against these claims can result in substantial costs and divert management time and resources. Additionally, if a plaintiff is successful in obtaining an injunction prohibiting consummation of the Rio Tinto Transaction, then that injunction may delay or prevent the Rio Tinto Transaction from being completed.
One of the conditions to consummating the Rio Tinto Transaction is that no governmental entity has enacted any law or issued any order restraining, enjoining or otherwise prohibiting the consummation of the Rio Tinto Transaction. Consequently, if a party secures injunctive or other relief prohibiting, delaying or otherwise adversely affecting our, Parent’s or Buyer’s ability to complete the Rio Tinto Transaction on the terms contemplated by the Rio Tinto Transaction Agreement, then such law or injunctive or other relief may prevent consummation of the Rio Tinto Transaction in a timely manner or at all. These lawsuits also have the potential to negatively impact our reputation.
Forward-Looking Information
We wish to caution readers not to place undue reliance on any forward-looking statements contained herein, which speak only as of the date made. We specifically decline to undertake any obligation to publicly revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

ITEM 2.    UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Repurchases of Ordinary Shares
There were no repurchases of Arcadium's ordinary shares for the three months ended September 30, 2024. We have no publicly announced share repurchase programs.
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ITEM 3.     DEFAULTS UPON SENIOR SECURITIES
N/A
ITEM 4.    MINE SAFETY DISCLOSURES
N/A

ITEM 5.    OTHER INFORMATION
10b-5(1) Trading Plans
During the three months ended September 30, 2024, none of our directors or officers (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934, as amended) adopted or terminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K of the Securities Act of 1933).

    


ITEM 6.    EXHIBITS
*2.1
*3.1
*3.2
31.1
31.2
32.1
32.2
101Interactive Data File
104
The cover page from Arcadium Lithium plc’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, formatted in Inline XBRL.

*    Incorporated by reference.
    


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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
ARCADIUM LITHIUM PLC
(Registrant)
By:/s/ GILBERTO ANTONIAZZI
Gilberto Antoniazzi,
Vice President and Chief Financial Officer
(Principal Financial Officer)
(signing on behalf of the registrant and as principal financial officer)
Date: November 7, 2024
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