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                                                                          
美國
證券交易委員會
華盛頓特區20549
_______________________________________________________________________
 表格 10-Q
_______________________________________________________________________
☒根據1934年證券交易法第13或15(d)節提交的季度報告
截至季度結束日期的財務報告2024年9月30日
or
☐根據1934年證券交易法第13或第15(d)條款的過渡報告
過渡期從______到______
委員會文件號 001-38694
__________________________________________________________________________
ARCADIUm LITHIUm PLC
(根據其章程規定的註冊人準確名稱)
__________________________________________________________________________ 
領地 新澤西
 98-1737136
（國家或其他管轄區的
公司成立或組織）		 （IRS僱主
唯一識別號碼）
1818 Market StreetGateway Hub 12樓套房
 2550號套房香農機場之家
費城故事, 賓夕法尼亞州
克萊爾郡香農
美國愛爾蘭
19103郵編：V14 E370
（總部地址）（郵政編碼）
215-299-5900
353-1-6875238
(註冊人電話號碼，包括區號)
__________________________________________________________________________
根據法案第12（b）節註冊的證券：
每一類的名稱交易標誌在其上註冊的交易所的名稱
普通股票，每股面值爲1.00美元股票代碼ALTM請使用moomoo賬號登錄查看New York Stock Exchange
請打勾表示註冊人已在過去12個月內（或註冊人要求提交此類報告的較短期間內）提交了《1934年證券交易法》第13或15（d）條要求提交的所有報告，並且在過去90天內一直受到此類提交要求的規定。Yes  ☒否☐
請勾選以下內容。申報人是否已在過去12個月內（或申報人需要提交此類文件的時間較短的期間內）逐個以電子方式提交了根據規則405提交的互動數據文件。這章的交易中規定。    Yes  ☒    否  ☐
請用複選標記表示註冊人是大型快速提交者、快速提交者、非快速提交者、較小的報告公司還是新興增長公司。請參閱《交易所法》第120億.2條中對"大型快速提交者"、"快速提交者"、"較小的報告公司"和"新興增長公司"的定義。

                                                                                       
大型加速報告人 
☒

  加速文件申報人 
☐
非加速文件提交人 
☐
  更小的報告公司 
☐
新興成長公司
☐
如果是新興成長型公司，請在複選框中打勾，以確定註冊人是否選擇不使用在1934年證券交易法第13(a)條項下提供的任何新的或修訂的財務會計準準則的延長過渡期。
☐
☐


請勾選以下內容。申報人是否是外殼公司（根據證券交易法規則12b-2定義）。    是  ☐沒有☒
截至2024年11月6日，公司已發行 1,075,630,109 每股面值爲1.00美元的普通股。


ARCADIUm LITHIUm PLC
指數
 
 
不。
壓縮合並現金流量表 - 有九起類似訴訟針對JAVELIN的要約收購和合並被提起，稱違反信託責任，尋求公正補償，包括但不限於，禁止交易的達成、撤銷、解除已經交易的事項，以及發送費用、補貼成本，包括合理的律師費和費用。唯一的佛羅里達州訴訟從未向被告送達，該案件於2017年1月20日自願撤回並關閉。2016年4月25日，馬里蘭法院頒佈了一項命令，將馬里蘭案件合併成一起訴訟，標題爲JAVELIN Mortgage Investment Corp.股東訴訟（案號24-C-16-001542），並指定一個馬里蘭案件的律師作爲臨時首席聯合法律顧問。2016年5月26日，臨時首席律師提交了經修訂的釩化鐵質量投訴，聲稱違反信託責任的集體索賠，教唆和共謀違反信託責任以及浪費。2016年6月27日，被告提出了駁回合併修訂集體投訴申請的動議，聲稱未陳述可以獲得救濟的規定。在2017年3月3日，聽證會召開了駁回動議，法院保留了裁定。法院數次推遲動議陳述的裁定。2024年2月14日，法院頒佈裁定，支持被告的駁回動議，並駁回所有原告的權利，無需上訴。在2024年3月11日，原告提出了對法院裁定的上訴通知。2024年7月3日，原告自願撤回之前提出的上訴通知。 截至 九月 2024年和2023年（未經審計）






3

術語表
在本報告文本中出現以下術語和縮寫時，它們的含義如下：
2025 年筆記2025年7月到期的4.125％可轉換優先票據本金額爲2.4575億美元
AllkemAllkem Pty Ltd，一家在澳大利亞註冊的專有股份有限公司，從 2024 年起是 Arcadium 的全資子公司，前身爲 Allkem Limited，一家上市公司，於 2024 年 3 月 6 日從上市公司轉換爲專有有限公司
Allkem 交易協議2023 年 5 月 10 日由 Livent、Allkem、Arcadium、Merger Sub 和 Arcadium Lithium Intermedium IRL Limited（一家在愛爾蘭註冊和註冊的私人公司 Arcadium Lithium Intermedium IRL Limited）於 2023 年 5 月 10 日簽訂的交易協議（於 2023 年 8 月 2 日、2023 年 11 月 5 日和 2023 年 12 月 20 日修訂），其中規定了 Allkem Livent 的合併
Allkem Livent 合併根據Allkem交易協議，Livent和Allkem在股票換股交易中合併。該交易於 2024 年 1 月 4 日完成。
AOCL累計其他綜合虧損
收購日期2024 年 1 月 4 日，Allkem Livent 合併交易完成的日期
Arcadium、Arcadium Lithium、「公司」、「我們」 或 「我們的」Arcadium Lithium plc，前身爲Allkem Livent plc，一家根據澤西島轄區法律註冊成立的上市有限公司（最初註冊爲Lightning-A Limited，一家根據澤西島轄區法律註冊成立的私人有限公司），註冊人
Arcadium NQSPArcadium 非合格儲蓄計劃
Arcadium 計劃Arcadium Lithium plc 綜合激勵計劃
ARO資產退休義務
ASC 321會計準則編纂主題 321-投資-股權證券
ASC 842會計準則編纂主題 842-租賃
買家力拓Bm子公司有限公司，一家根據英格蘭和威爾士法律註冊成立的私人有限公司，是力拓交易協議的當事方
CCAA《公司債權人安排法》
CRA加拿大稅務局
信貸協議經修正後，規定了5億美元的優先擔保循環信貸額度
電子與電氣探索與評估
復活節者預計的年度有效稅率
ESMeSm iLiad, LLC 是 iLiad Technologies, LLC 的母公司，兩者均爲 EnergySource Materi
EV電動車
《交易法》經修訂的 1934 年證券交易法
交換率根據Allkem交易協議，每股面值0.001美元的Livent普通股的每股均轉換爲獲得2.406股Arcadium Lithium普通股的權利
FMC聯邦海事委員會公司
iLiad集成鋰吸附解吸
智商
Investissement Québec，一家由魁北克政府成立的公司，旨在支持總部位於魁北克的國際公司在魁北克投資
伊拉2022 年降低通貨膨脹法案
JEMSEJujuy Energia Minera Sociedad del Estado，它擁有 SDJ 8.5% 的股份
LCE碳酸鋰當量
LiventLivent Corporation 是特拉華州的一家公司，從 2024 年開始是 Arcadium 的全資子公司，也是 Arcadium 的前身
mDa
Minera del Altiplano SA，芬尼克斯業務在阿根廷的當地運營子公司
MdA 控股有限責任公司MdA Lithium Holdings LLC，一家特拉華州有限責任公司，也是 Arcadium 的全資子公司，擁有 MdA 94.9% 的股份
合併子公司特拉華州的一家公司 Lightning-A Merger Sub, Inc.
奈良哈工廠我們在日本奈良哈的氫氧化鋰製造工廠，通過對TLC的投資，我們擁有該工廠49％的所有權和75％的經濟權益。TLC是一家按權益會計法覈算的未合併子公司
4

Nemaska 鋰礦 或 NLI
Nemaska 鋰礦公司，一家尚未進入生產階段，註冊地在加拿大魁北克的非上市鋰公司
Nemaska 鋰礦項目
通過我們的子公司QLP，在其中我們持有NLI 50%的股權，我們正在發展Nemaska 鋰礦項目，該項目將包括魁北克的James Bay 地域板塊的Whabouchi 礦山和濃縮廠，以及魁北克的Bécancour 的鋰羥化工廠
Olaroz 工廠
我們在阿根廷胡胡伊的鋰提取和半導體工廠，通過我們的子公司SDJ Pte 和SDJ 間接擁有66.5%的股權
母公司。
力拓西部控股有限公司是根據英格蘭和威爾士法律設立的私人有限公司，與買方和Arcadium一起簽署了力拓交易協議
PRSU基於業績的受限制的股份單位
QLP
Arcadium的全資子公司Québec Lithium Partners (UK) Limited，在Nemaska鋰礦項目中擁有50％的股權
循環授信設施根據信貸協議提供的Arcadium的50000萬美元高級擔保循環授信額度
力拓母公司和買方，共同爲力拓（Rio Tinto plc）
力拓交易力拓以每股5.85美元的價格現金收購阿卡迪姆的所有普通股（包括由CDI代表的股份），根據力拓交易協議，預計將於2025年中期關閉，需滿足結算條件
力拓交易協議2024年10月9日由母公司、買方和阿卡迪姆簽署的交易協議，旨在規劃力拓交易
每個 RSU 表示有權獲得一股公司普通股或者相同價值的股票，公司有自主選擇權。在董事會職務退休當天，RSU 將產生效力，只要任職時間至少爲兩年。該公司根據其限制性股票計劃授予了 RSU。受限制的股份單位
RVO批准和授予訂單
SDJ私人有限公司Sales de Jujuy私人有限公司，Allkem在新加坡擁有72.68%的子公司，擁有SDJ 91.5%的股份
SDJSales de Jujuy S.A.，Allkem在阿根廷間接擁有66.5%的運營子公司，經營Olaroz工廠
SDV
Galaxy Lithium（SAL DE VIDA）S.A.，Allkem在阿根廷間接擁有100%的子公司，正在Sal de Vida項目開發鋰礦提取和製造設施
SEC證券交易委員會
證券法1933年證券法, 經修訂版
SOFR擔保隔夜融資利率
TLCToyotsu鋰礦公司
TLP位於TTC旗下的Toyotsu鋰礦私人有限公司，對SDJ Pte持有27.32%的股權
TTC豐田通商株式會社
美國通用會計準則美國通用會計準則
增值稅增值稅
5


第一部分 - 財務信息
 
項目1.——基本報表
在本季度10-Q報告（「10-Q表格」）中，截至2024年9月30日和2024年9月30日爲止的公司業績包括Allkem的運營和財務狀況。由於Arcadium Lithium plc是於2024年1月4日合併的Livent的繼任公司，我們將前身Livent的2023年9月30日和2023年12月31日爲止的三個月和九個月的業務結果呈現出來，不包括Allkem的財務狀況或運營。有關Allkem Livent合併的更多信息，請參閱註釋4。

ARCADIUm LITHIUm PLC
簡明合併利潤表
 
截至9月30日的三個月截至9月30日的九個月
2024
2023 (1)
2024
2023 (1)
（以百萬計，每股數據除外）（未經審計）
收入$203.1 $211.4 $718.8 $700.7 
銷售成本146.9 83.6 475.8 258.4 
毛利率56.2 127.8 243.0 442.3 
減值費用51.7 — 51.7 — 
銷售、一般和管理費用39.7 13.2 95.1 47.1 
研究和開發費用1.2 1.3 3.8 3.3 
重組和其他費用9.7 8.7 111.4 35.0 
總成本和支出249.2 106.8 737.8 343.8 
（虧損）/扣除權益前的運營收益（未合併子公司的淨虧損）、利息支出/（收益）、淨額、債務清償損失和其他（收益）/虧損 (46.1)104.6 (19.0)356.9 
未合併子公司淨虧損中的權益5.9 6.7 5.9 22.0 
利息支出/（收入），淨額1.5 — (18.8)— 
債務清償損失— — 1.1 — 
其他（收益）/損失(44.8)1.2 (202.0)(5.3)
（虧損）/所得稅前的運營收入(8.7)96.7 194.8 340.2 
所得稅（福利）/費用(33.4)9.3 55.7 47.8 
淨收入24.7 87.4 139.1 292.4 
歸屬於非控股權益的淨收益8.6 — 21.7 — 
歸屬於Arcadium鋰業公司的淨收益$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 
攤薄後每股普通股收益$0.01 $0.17 $0.10 $0.58 
已發行普通股的加權平均值——基本1,075.1 432.4 1,067.8 432.3 
已發行普通股的加權平均值——攤薄 1,143.6 503.6 1,136.4 503.5 
_______________________________
1.截至2023年9月30日三個月和九個月的基本和稀釋每股普通股收益以及基本和稀釋的加權平均普通股份額 - 基本和稀釋金額代表前身livent，並已調整以反映 2.406 交易比率。代表前身livent截至2023年9月30日三個月和九個月的業績，其中不包括Allkem的業務。


隨附說明是這些簡明合併財務報表的一部分。
6

ARCADIUm LITHIUm PLC
綜合收益簡明合併報表
 
截至9月30日的三個月截至9月30日的九個月
2024
2023 (1)
2024
2023 (1)
（數以百萬計）(未經審計)
淨利潤$24.7 $87.4 $139.1 $292.4 
其他綜合收益/（虧損），淨額（稅後）：
外幣調整:
期間發生的外幣翻譯收入/(損失)13.4 (1.8)(17.1)(1.3)
外幣貨幣兌換調整總額13.4 (1.8)(17.1)(1.3)
衍生工具：
未實現對沖（虧損）/獲利，稅後淨額小於 零, $0.2, $(0.1）以及零
(0.1)(0.6)0.2 — 
包括在淨利潤中的遞延虧損的再分類，稅後淨額小於 零, $(0.1), 零和$0.1)
0.1 0.20.1 0.2 
衍生工具總額— (0.4)0.3 0.2 
其他綜合收益/(虧損)，稅後淨額13.4 (2.2)(16.8)(1.1)
綜合收益38.1 85.2 122.3 291.3 
歸屬於非控股權益綜合收益11.0 — 24.1 — 
歸屬於Arcadium鋰礦有限公司的綜合收益$27.1 $85.2 $98.2 $291.3 
______________________
1.代表前任公司Livent截至2023年9月30日三個月和九個月的運營結果，不包括Allkem的運營。


























隨附說明是這些簡明合併財務報表的一部分。
7

ARCADIUm LITHIUm PLC
簡明合併資產負債表
(以百萬爲單位，除股份和票面價值數據外)2024年9月30日
2023年12月31日。(1)
資產(未經審計)
流動資產
現金及現金等價物$137.9 $237.6 
應收賬款，扣除約$的準備金0.1的。0.3在2023年被Men's Journal評爲美國排名第一的健身房連鎖店
90.2 106.7 
淨存貨389.6 217.5 
預付和其他流動資產247.9 86.4 
總流動資產865.6 648.2 
投資40.0 34.8 
減：累計折舊淨額爲 $5,350 的固定資產和設備345.5的。269.1在2023年被Men's Journal評爲美國排名第一的健身房連鎖店
7,249.2 2,237.1 
商譽1,293.2 120.7 
其他無形資產淨額64.2 53.4 
延遲所得稅48.2 1.4 
使用權資產-經營租賃，淨額 54.8 6.8 
其他389.4 127.7 
資產總額$10,004.6 $3,230.1 
負債和股東權益
流動負債
短期借款和長期債務的流動部分$288.4 $2.4 
應付賬款，交易和其他151.0 115.4 
應計負債及其他負債175.5 136.8 
合同負債 - 短期55.1 4.4 
經營租賃負債-流動 6.8 1.3 
所得稅58.5 8.3 
流動負債合計735.3 268.6 
長期負債436.0 299.6 
經營租賃負債-長期49.7 5.6 
環保母基7.4 7.0 
延遲所得稅1,299.1 126.4 
合同負債 - 長期251.2 217.8 
其他長期負債92.0 21.3 
承諾和或有負債（附註20）
— — 
總流動負債和長期負債2,870.7 946.3 
股東權益
Arcadium 鋰礦plc股東權益：
普通股份； $1.00每股面值; 5,000,000,000 1,075,427,002 看跌 433,059,946發行股票;1,075,164,487 看跌 432,796,277 截至2024年9月30日和2023年12月31日爲止的未清項
0.1 0.1 
超過普通股面值的資本 5,581.7 1,170.4 
未分配利潤 781.9 664.5 
累計其他綜合損失(66.6)(49.8)
庫藏股，按成本計量； 262,515 看跌 263,669 截至2024年9月30日和2023年12月31日，股份分別爲
(1.0)(1.0)
總Arcadium鋰礦股東權益6,296.1 1,784.2 
非控制權益837.8 499.6 
股東權益總計7,133.9 2,283.8 
負債和所有者權益總額$10,004.6 $3,230.1 
_________________________
1.代表了前身Livent截至2023年12月31日的財務狀況，不包括Allkem的財務狀況。
附註是這些簡明綜合財務報表的一部分。
8

ARCADIUm LITHIUm PLC
現金流量表簡明綜合報表
截至9月30日的九個月
2024
2023 (1)
 （數以百萬計）
(未經審計)
經營活動產生的現金（使用）：
淨利潤$139.1 $292.4 
調整淨利潤以將現金（使用）/經營活動產生的現金相調解：
折舊和攤銷77.4 21.5 
重組和其他費用(50.6)22.5 
減值損失51.7 — 
延遲所得稅(152.9)(4.8)
基於股份的補償9.1 6.2 
信託基金證券投資變動(1.2)(0.2)
債務清償損失1.1 — 
聯營公司淨損失5.9 22.0 
其他收益，藍籌股交易(64.9)(21.4)
其他非現金調整0.3 (0.3)
經營性資產和負債變動:
交易應收賬款淨額83.3 29.9 
存貨(48.1)(56.2)
應付賬款，交易和其他(146.7)(33.6)
遞延薪酬的變化 2.1 1.2 
合同負債 - 短期50.7 (5.8)
合同負債 - 長期(22.0)— 
所得稅(27.7)(11.6)
預付款及其他流動資產和其他資產的變化(97.4)4.9 
應付及其他流動負債和其他長期負債的變化31.9 (4.9)
經營活動中的現金流量淨額(158.9)261.8 
投資活動產生的現金流量：
資本支出(2)
(778.7)(239.4)
藍籌股交換收入，減少購買成本 64.9 21.4 
收購現金及現金等價物 - Allkem Livent合併681.4 — 
在途投資 - Nemaska鋰礦 (3)
(43.9)— 
投資未納入合併範圍的關聯公司 (4)
(40.7)(85.4)
其他投資活動(12.8)(12.1)
投資活動使用的現金(129.8)(315.5)
籌資活動提供的現金/(使用的現金)
循環信貸額度的融資款項 222.0 — 
循環信貸額度的償還款項(123.0)— 
項目貸款款項的償還(83.2)— 
客戶供應協議預付款的收入款項150.0 — 
非控股權益的資本注入 - Nemaska 鋰礦39.1 — 
向海關部門支付存款— (21.7)
其他融資活動(1.8)0.2 
籌資活動提供的現金203.1 (21.5)
匯率變動對現金及現金等價物的影響(14.1)(1.2)
現金及現金等價物減少(99.7)(76.4)
現金及現金等價物期初餘額237.6 189.0 
現金及現金等價物期末餘額$137.9 $112.6 
_________________________
1.代表了livent的前身運營的結果，截至2023年9月30日，不包括Allkem的運營。
9


ARCADIUm LITHIUm PLC
現金流量表 (續)
截至9月30日的九個月
2024
2023 (1)
現金流的補充披露：(未經審計)
繳納所得稅的現金支付，扣除退款$136.0 $55.3 
現金支付的利息 (2)
25.1 11.3 
現金支付的重組和其他費用162.0 12.2 
應計資本支出166.5 39.5 
根據ASC 842記錄的經營租賃使用權資產和租賃負債1.0 0.9 
____________________
1.代表了livent的前身運營的結果，截至2023年9月30日，不包括Allkem的運營。
2.截至2024年和2023年9月30日的九個月，資本化的利息支出爲$17.1 百萬美元和美元12.6截至2024年和2023年9月30日資本化的利息現金支付爲$16.6百萬美元和$11.3百萬。
3.代表公司在2024年第三季度投入Nemaska鋰礦的現金，由於報告有一個季度的滯後，因此尚未在我們對Nemaska的合併報表中記錄。餘額被記錄爲其他資產 - 非流動資產，因爲這筆現金預計將主要用於Nemaska的資本支出。有關詳細信息，請參見第9條說明。
4.2023年10月18日，我們開始合併Nemaska鋰礦，見註釋9 有關詳細信息。





















隨附說明是這些簡明合併財務報表的一部分。
10












ARCADIUm LITHIUm PLC
壓縮的合併股權聲明
(未經審計)
Arcadium股東權益(1)
（以百萬計，除每股數據外）
普通股，$1.00 每股面值
超過面值的資本未分配利潤累計其他綜合損失庫藏股非控制權益總計
2023年12月31日的餘額$0.1 $1,170.4 $664.5 $(49.8)$(1.0)$499.6 $2,283.8 
淨利潤— — 15.6 — — 4.3 19.9 
Allkem livent合併— 4,390.4 — — — 275.0 4,665.4 
股份補償計劃 — 15.8 — — — — 15.8 
用於稅金和期權成本而被扣留的股份-普通股發行— (2.6)— — — — (2.6)
對沖收益淨額，扣除所得稅— — — 0.2 — — 0.2 
外幣翻譯調整— — — (20.2)— — (20.2)
2024年3月31日的餘額$0.1 $5,574.0 $680.1 $(69.8)$(1.0)$778.9 $6,962.3 
淨利潤— — 85.7 — — 8.8 94.5 
來自非控股股東的資本貢獻— — — — — 39.1 39.1 
分享補償計劃— 3.9 — — — — 3.9 
淨對沖收益，扣除所得稅— — — 0.1 — — 0.1 
外幣翻譯調整— — — (10.3)— — (10.3)
2024年6月30日的餘額$0.1 $5,577.9 $765.8 $(80.0)$(1.0)$826.8 $7,089.6 
淨利潤— — 16.1 — — 8.6 24.7 
分成補償計劃— 3.8 — — — — 3.8 
淨套期損失，扣除所得稅— — — (0.1)— — (0.1)
延期套期損失再分類，扣除稅後— — — 0.1 — — 0.1 
外幣翻譯調整— — — 13.4 — 2.4 15.8 
2024年9月30日餘額$0.1 $5,581.7 $781.9 $(66.6)$(1.0)$837.8 $7,133.9 
11












Arcadium股東權益 (1)
（以百萬計，除每股數據外）
普通股，$1.00 每股面值
超過票面的資本 未分配利潤累計其他全面收益虧損庫藏股非控制權益總計
截至2022年12月31日的餘額$0.1 $1,160.4 $334.4 $(51.0)$(0.9)$— $1,443.0 
淨利潤— — 114.8 — — — 114.8 
股份補償計劃 — 1.9 — — — — 1.9 
爲繳稅而保留的股份-普通股發行— (0.5)— — — — (0.5)
股票期權的行使— 0.1 — — — — 0.1 
對沖收益淨額，扣除所得稅— — — 0.2 — — 0.2 
外幣翻譯調整— — — 1.5 — — 1.5 
截至2023年3月31日的餘額$0.1 $1,161.9 $449.2 $(49.3)$(0.9)$— $1,561.0 
淨利潤— — 90.2 — — — 90.2 
分享補償計劃— 2.1 — — — — 2.1 
期權行權 — 0.3 — — — — 0.3 
淨套期保值收益，扣除所得稅— — — 0.4 — — 0.4 
外幣翻譯調整— — — (1.0)— — (1.0)
截至2023年6月30日的餘額$0.1 $1,164.3 $539.4 $(49.9)$(0.9)$— $1,653.0 
淨利潤— — 87.4 — — — 87.4 
股份酬勞計劃— 2.2 — — — — 2.2 
期權的行使— 0.2 — — — — 0.2 
淨套期損失，扣除所得稅— — — (0.6)— — (0.6)
稅後對未實現對沖損失進行重新分類淨額— — 0.2 — — 0.2 
外幣翻譯調整— — — (1.8)— — (1.8)
2023年9月30日的餘額$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日的三個和九個月的運營結果，不包括Allkem的財務狀況或經營情況。






















附帶的說明是這些簡明合併財務報表不可或缺的一部分。
12

ARCADIUm LITHIUm PLC
基本報表註釋（未經審計）

注1： Black Stone Minerals有限合夥公司（「BSM」或「合夥公司」）是一家公開交易的特拉華州有限合夥公司，擁有石油和天然氣礦物權益，這構成了絕大部分資產基礎。本合作公司的資產也包括非參與的專有權利和超限專有權益。這些權益，基本上是不承擔費用的，統稱爲「礦物和專有權益」。合作公司的礦物和專有權益位於美國本土的各個州，包括所有主要陸上產油盆地。合作公司還擁有特定石油和天然氣屬性的非經營工作權益。合作公司的普通單位在紐約證券交易所上市，代碼爲「BSM」。
背景和運營性質
Arcadium Lithium plc（"Arcadium"、"Arcadium Lithium"、"我們"、"公司"或"我們的"）是一家根據澤西島法律成立的上市公司。2024年1月4日，Arcadium Lithium完成了預先宣佈的Allkem livent合併，此次合併使得特拉華州公司Livent Corporation（"Livent"）和澳大利亞股份有限公司Allkem Limited（"Allkem"）成爲Arcadium Lithium的全資子公司。2024年1月4日，公司股票在紐約證券交易所開始以交易標的ALTm進行交易。詳情請參見第4條，Allkem livent合併。
雖然Arcadium鋰礦是一家由Allkem與lavent合併而成的新公司，但我們的公司擁有豐富的創新傳統和長期、經過驗證的安全可持續生產鋰礦化合物的歷史。我們實現了垂直一體化，擁有全球貨幣佈局和行業領先的鋰礦生產端到端能力，包括硬巖開採、傳統的池塘提鹽、直接鋰鹽提取和鋰礦化學品製造。
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
基本報表註釋（未經審計）
力拓交易協議；並且在力拓交易協議中沒有發生重大不利影響（如在力拓交易協議中定義）。 關於這些條件是否會得到滿足或豁免的時間安排是不確定的。此外，其他事件可能會介入延遲或導致力拓交易未能完成。 力拓交易目前預計將於2025年年中完成，前提是滿足交割條件。
如果力拓交易在2025年10月9日之前未結束(視情況延長至2026年4月9日以獲取反壟斷或投資審查法律或其他監管批准)，公司或母公司可選擇終止力拓交易協議。力拓交易協議規定，如果力拓交易協議被終止，公司將支付$XXX萬終止費用給力拓，情況包括公司終止力拓交易協議與董事會改變其建議有關，以及力拓終止力拓交易協議因公司董事會改變其建議。終止費用還可能由公司支付，如果在終止後十二個月內公司在某些情況下與另一交易達成協議。然而，如果一方對力拓交易協議有重大違約且該違約是導致未在該日期之前的結束失敗的主要原因，則公司或母公司可選擇終止力拓交易協議。公司或母公司可能會在某些其他情況下選擇終止力拓交易協議，包括如果公司股東未在股東大會上批准力拓交易，公司和母公司可以在股東批准之前或之後的任何時間相互決定終止力拓交易協議。200如果力拓交易在2025年10月9日之前未結束(視情況延長至2026年4月9日以獲取反壟斷或投資審查法律或其他監管批准)，公司或母公司可選擇終止力拓交易協議。力拓交易協議規定，如果力拓交易協議被終止，公司將支付XXX萬美元終止費用給力拓，情況包括如果公司終止力拓交易協議與董事會改變其建議相關，以及如果力拓終止力拓交易協議是因公司董事會改變其建議。公司在一些情況下可能也需支付終止費用，如果在終止後十二個月內公司達成替代交易協議。但是，如果公司或母公司嚴重違約力拓交易協議並且該違約是導致未於該日期之前結束是主要原因，則公司或母公司可能選擇終止力拓交易協議。公司或母公司可能在另一些情況下選擇終止力拓交易協議，包括如果公司股東未在股東大會上批准力拓交易，此外，在公司股東批准前或後，公司和母公司可以隨時共同決定終止力拓交易協議。
前述的力拓交易協議摘要及其所設想的力拓交易，並不意味着完整，並且完全受限於力拓交易協議的條款和條件，請參閱已提交本10-Q表格的附件2.1上的力拓交易協議備份。

注2：重大會計政策及相關財務信息
在本10-Q表格中，截至2024年9月30日和爲期三個和九個月截至2024年9月30日的公司業績分別包括Allkem的經營和財務狀況。由於Arcadium 鋰礦 公司是Allkem Livent合併中Livent的繼任公司，我們呈現了2013年9月30日和2023年12月31日爲期三個和九個月的前身Livent的經營業績，不包括Allkem的財務狀況或經營。有關Allkem Livent合併的詳細信息，請參閱附註4。
附註的簡明綜合財務報表是根據證券交易委員會（「SEC」）的要求編制的用於中期報告。根據這些規定，某些根據美國通用會計準則通常要求的註釋或其他財務信息已經在這些中期財務報表中被簡化或省略。 本報告中包含的財務報表反映了經過管理層認爲對於公平呈現我們截至2024年9月30日和2023年12月31日的簡明綜合資產負債表，截至2024年9月30日和2023年的三個和九個月的簡明綜合經營結果，簡明綜合損益表以及簡明綜合權益變動表，以及截至2024年9月30日和2023年的九個月的簡明綜合現金流量的所有正常和經常性調整。所有公司間交易和餘額在合併中已被消除。對於我們控制但持股少於100％的實體，我們將少數股權記錄爲非控股權益。所報告的中期業務運營結果未必能反映全年預期結果。因此，應同時閱讀包含在我們截至2023年12月31日的財年年度報告10-K中的年度綜合財務報表和相關附註（「2023年度10-K年度報告」）。
重新分類
爲符合簡明綜合財務報表和附註中的當前期間呈現，某些之前期間的餘額已重新分類。
自2024年4月1日起，我們開始將外幣再計量的收益和損失作爲其他收益/損失的一部分呈現。在2024年4月1日之前，我們將外幣再計量所導致的收益和損失作爲營業成本和重組及其他費用的組成部分納入了簡明的綜合損益表中。 以下表格總結了截至2023年9月30日和2023年3月31日的三個月及九個月重新編制的帳戶，以符合當前期間呈現。
14
目錄

ARCADIUm LITHIUm PLC
財務報表附註（未經審計）—（續）
截至9月30日的三個月截至9月30日的九個月
20232023
（數以百萬計）之前的呈現損失/(收益) 重新分類 重新構建的呈現之前的呈現損失/(收益) 重新分類重新制作演示文稿
銷售成本$94.9 $11.3 $83.6 $274.8 $16.4 $258.4 
重組及其他費用8.6 (0.1)8.7 34.7 (0.3)35.0 
其他(收益)/損失(10.0)11.2 1.2 (21.4)16.1 (5.3)
截至2021年3月31日的三個月
2024
（數以百萬計）之前的演示(收益)/損失 重新分類重新編排的演示
銷售成本$116.8 $(38.0)$154.8 
重組及其他費用83.6 3.8 79.8 
其他(收益)/損失(43.1)(34.2)(77.3)

分段信息
2024年1月，Arcadium鋰礦完成了Allkem Livent合併。有關更多詳情，請參見附註4，Allkem Livent合併。在Allkem Livent合併結束後，我們目前作爲 一個 可報告部門，基於我們的產品和服務之間的共性。隨着整合的深化，我們將繼續評估這一決定。
收入確認
產品銷售的營業收入在我們通過向客戶交付承諾的商品來滿足履約義務時確認，即當商品的控制權轉移給客戶時。付款條款通常在區間內 20 至 180日。
在確定貨物的控制轉移時間時，我們通常會評估貨物所有權和風險轉移，以及合同的裝運條款等因素。
我們將運輸和處理費用的開票金額記錄爲營業收入。 運輸和處理產生的成本記錄在銷售成本中。 當我們在將控制權轉移給客戶後執行運輸和處理活動（例如，在交付之前轉移控制權時），它們被視爲履行活動，並相應地，相關收入確認時，成本會計提入銷售成本。
銷售和使用稅、增值稅、以及在產生營業收入交易中徵收的某些特定貨幣稅款的開票金額以淨額呈現，並在簡明合併利潤表中從營業收入中排除。我們會記錄負債，直到匯入各自的稅務機構。
我們通過向客戶轉讓商品和服務來履行我們的義務。履行的時間有時與從客戶那裏收到相關對價的時間不同，因此導致合同資產或負債的確認。這可能源自我們某些客戶合同的臨時定價，或者客戶在我們完成相關履行義務之前支付對價。臨時定價會導致變量對價，我們通過使用預期價值方法估計這種變量對價，考慮到所有合理可得的信息，包括公開可得的價格預測。我們僅在很可能不會發生已確認營業收入金額顯著反轉的情況下，將變量對價納入交易價格。
權益法投資
當我們將股權法下投資、承諾和額外投資（即貸款或預付款）的價值減少至零時，我們停止應用權益法。如果投資者隨後報告淨利潤，當我們的分享等於暫停的損失時（即我們尚未確認的投資者淨損失的份額），我們將恢復應用權益法。
15
目錄

ARCADIUm LITHIUm PLC
財務報表附註（未經審計）—（續）
如果事實和情況表明投資價值的下降是除暫時性以外的任何情況，我們會確認一筆減值損失，金額等於賬面價值超過權益法投資公允價值的數額。 在2024年9月30日結束的九個月內沒有發生任何減值。
商譽
公司按照要求的當前會計準則對企業合併中獲取的商譽和其他無形資產進行覈算，要求商譽和無限壽命無形資產不進行攤銷。
根據指引，通過比較報告單元的估計公允價值與相關賬面價值來測試商譽減值。報告單元可以是營業業務板塊，也可以是可獲得離散財務信息並由業務管理部門定期審查的營業業務板塊下一級別的實體。在執行商譽減值測試時，首先進行定性測試（"步驟0"），在該測試下評估定性因素，以判斷報告單元的公允價值是否很可能低於其賬面價值。定性因素可能包括但不限於經濟狀況、行業和市場考慮、成本因素、報告單元的整體財務表現以及其他實體和報告單元特定事件。如果經過評估這些定性因素後，判斷很可能報告單元的公允價值低於賬面價值，則執行定量測試（"步驟1"）。在步驟1中，使用貼現現金流模型估計公允價值。
商譽減值評估可能會導致我們記錄的資產價值減少，進而對我們的財務狀況和經營業績產生重大不利影響。我們每年對商譽進行評估，或者在觸發事件表明可能存在減值的情況下更頻繁地進行評估。我們通過比較報告單元的淨資產價值（包括商譽）與報告單元的公允價值在單元級別測試商譽。如果商譽的賬面價值超過其公允價值，則商譽被視爲減值。如果出現任何減值或相關費用情況，我們的財務狀況和經營業績可能會受到重大影響。例如，任何減值或相關費用可能是由公司股票價格持續下跌導致的；權益成本或債務成本由於與可比公司或可比收購估值相關的估值而增加；或未來現金流預期的前景惡化可能是由但不限於，競爭加劇、折現率變化、負面預測修訂、受限計劃或影響業務的適用法規變化引起的報告單元現金流預期的前景惡化等因素引起的。
礦山開發成本
礦山開發成本包括：a）在搜索涉礦概念、確定提取涉礦概念的技術可行性和商業可行性期間發生的勘探和評估（"E＆E"）支出；和b）剝離成本，用於清除露天礦中的覆土和廢料，以便進入礦體。
公司在尚未建立E&E活動地點的確權和概率儲量時，以成功努力基礎將E&E支出資本化爲房地產、租賃和設備（"PP&E"）。作爲業務組合的一部分認可的E&E資產也將被資本化。所有其他E&E支出將被列支。
在開放式露天礦的開發過程中，發生在生產階段之前的除去成本會被資本化爲固定資產和設備費用。在採礦綜合體存在多個露天礦並共用處理設施的情況下，這些預生產的除去成本會分別在每個露天礦中資本化。在露天礦的開發階段，可能會發生微不足道的可銷售物料的除去、生產和銷售，並將分配與除去該物料相關的增量採礦成本。當生產出具有一定數量的可銷售礦石時，露天礦的生產階段就開始了。礦山生產階段中發生的除去成本是可變生產成本，作爲存貨的一部分納入，將在與存貨銷售收入相同的期間內確認爲銷售成本。
開採的資本開發成本按照已探明和可探明儲量中估計可回收礦物的單位產量法攤銷，並在礦體預計壽命內攤銷。
礦產權益
礦產權益包括在生產、開發和勘探階段的財產中獲得的權益。礦產權益在收購日期以其公允價值計入資本，既可以作爲單獨的資產購買，也可以作爲企業合併的一部分。在開發和勘探階段的礦產權益在基礎財產轉爲生產階段之前不進行攤銷，此時礦產權益按照預計可回收的已探明和可能儲量通過單位生產法進行攤銷。

16
目錄

ARCADIUm LITHIUm PLC
財務報表附註（未經審計）—（續）
養老責任負債
公司根據ASC 410-20《資產退休義務》，會計處理資產退休義務（"AROs"）。我們以發生責任的現值記錄AROs，如果可以合理估計結算日期。相關的AROs作爲相關長期資產的賬面價值的一部分進行資本化。在未來期間，責任應按其現值累積，並且資本化成本應在相關資產的預期壽命內攤銷。我們還會根據時間流逝或原始估計的時間或金額的修訂的變化調整責任。在長期資產養老時，我們會按照記錄金額清償責任。 詳見附註14。
2024年9月30日和2023年12月31日的資產減值準備賬面金額分別爲$12.5 分別相比較。2024年9月30日止三個月和九個月的有效稅率爲$3.7 百萬美元。這些金額已包含在我們的簡明合併資產負債表中的應計及其他流動負債和其他長期負債中。
藍籌股互換
我們在阿根廷的全資子公司使用美元作爲其功能貨幣。阿根廷披索計價的貨幣資產和負債在每個資產負債表日按當時有效的官方貨幣匯率重新計量，這代表了可供外部商業（進口付款和出口收款）和金融付款的匯率，貨幣重新計量和其他交易收益和損失計入收益。2019年9月，阿根廷總統恢復了限制外匯購買的匯兌控制措施，旨在穩定阿根廷金融市場。因此，一個名爲藍籌股交易的合法交易機制在阿根廷出現，供所有個人或實體將美元轉入和轉出阿根廷。藍籌股交易率是藍籌股交易交易產生的隱含匯率。2024年上半年，美元通過藍籌股交易方式轉入阿根廷，我們通過購買美元和在阿根廷披索中出售阿根廷主權美元計價債券實現了收益。截至2024年9月30日止三個月和九個月的1000萬美元盈利記錄在我們的簡明合併利潤表中的其他（收益）/損失。14.4百萬和$64.9截至2024年9月30日止的三個月和九個月的1000萬美元盈利記錄在我們的簡明合併利潤表中的其他（收益）/損失。
鋰金屬交易
2024年8月2日，Arcadium宣佈收購Li-Metal Corp的鋰礦部門。 這筆全現金 $11 百萬美元的交易包括與鋰金屬生產相關的知識產權和實物資產，包括加拿大安大略省的試製生產設施。
Arcadium鋰使用鋰金屬製造特種產品，包括高純度鋰金屬（"HPM"）和LIOVIX®，一種專有的可印刷鋰金屬配方，用於主要電池應用和下一代電池。Arcadium鋰還將鋰金屬加工成正丁基鋰，以及用於醫藥、農業、電子和其他行業的其他鋰礦特種化學品。

注3：最近發佈和採納的會計準則和監管事項
2023年12月，財務會計準則委員會(FASB)發佈了ASU No. 2023-09， 所得稅（主題740）：改進所得稅披露。該標準要求上市的業務實體在每年披露稅率調節表的特定類別，併爲滿足數量門限的調節項目提供其他信息（如果這些調節項目的影響相當於或大於將稅前收入（或損失）與適用的法定所得稅率相乘所得金額的5%）。它還要求所有實體每年披露按聯邦、州和外國稅種分解的所支付的所得稅（扣除退款），以及按所支付的所得稅（扣除退款）在個別司法管轄區分解的金額，當所支付的所得稅（扣除退款）相當於或大於所支付的總所得稅（扣除退款）的5%時。最後，該標準取消了要求所有實體披露未識別稅務負債餘額在未來12個月內合理可能變動範圍的性質和估計，或聲明無法估算範圍的要求。該標準對公司自2026年1月1日開始的年度適用。可以提前採納該標準。該標準應以前瞻性基礎應用。允許追溯適用。公司目前正在評估該標準可能對其財務報表產生的影響。。這項ASU加強了現有的所得稅披露，以更好地評估實體的經營和相關稅務風險、稅務規劃和經營機會如何影響其稅率和未來現金流的前景。該ASU適用於2024年12月15日後開始的年度。我們目前正在評估指導意見對我們的簡明合併財務報表可能產生的影響。
2023年11月，FASB發佈了ASU 2023-07，該更新通過增強重要板塊支出的披露，改進了可報告板塊的披露要求。這個更新中的修正應在合併財務報表中呈現的所有之前期間中進行追溯，適用於2023年12月31日後開始的財政年度和2024年12月31日後的財政年度內的中期期間。早期實施是允許的。公司目前正在評估該指引對其簡明合併財務報表的潛在影響。 分部報告（主題 280）：報告服務部門（主題 280）變更披露方式，通過升級對意義重大的分部費用的披露來改進分部報告披露要求。該準則適用於 2023 年 12 月 15 日之後的財年和 2024 年 12 月 15 日之後的財年間隔期。該準則必須適用於財務報表中呈現的所有期間的追溯。該公司目前正在評估該標準對合並財務報表的影響。該ASU通過增加相關重要部門費用披露而主要改進報告部門披露要求。該ASU適用於2023年12月15日後開始的年度期間和2024年12月15日後開始的中間期間。我們目前正在評估該指導對我們的簡明綜合基本報表的影響。
17
目錄

ARCADIUm LITHIUm PLC
財務報表附註（未經審計）—（續）
注4：合作和其他安排 Allkem livent合併
2024年1月4日（"收購日期"），Arcadium通過Livent Corporation（特拉華州公司 "Livent"）、澳大利亞上市公司Allkem Limited（"Allkem"）、澤西島法律下設立的上市公司Arcadium Lithium plc（"Arcadium"）、Lightning-A Merger Sub, Inc.（"Merger Sub"）及愛爾蘭設立和註冊的私人有限公司Arcadium Lithium Intermediate IRL Limited（"Irish IntermediateCo"）完成了之前宣佈的Allkem Livent合併。
該交易是通過澳大利亞法律下的安排方案完成的，根據該方案，每個由Allkem股東持有的已發行、已全額支付的普通股可交換爲 一個 Arcadium鋰CHESS託管證券（稱爲「CDI」，在澳大利亞證券交易所上市，每個CDI代表對Arcadium普通股的有益所有權利益 一個 Arcadium普通股）或 一個 Arcadium普通股（每股面值$1.00 ），以及(b) 一項合併交易，根據合併交易，Merger Sub，愛爾蘭IntermediateCo的全資子公司（Arcadium的直接全資子公司）與Livent合併，Livent作爲存續實體。每股Livent普通股，面值$0.001 每股（每股爲一"Livent Share"）被轉換爲有權收取 2.406 Arcadium普通股份。
根據Allkem合併Livent， 433,156,855 Arcadium普通股（包括 96,909 相關的加速PRSU獎勵）發行給原Livent股東， 641,337,840 Arcadium普通股（包括 98,725,616 Arcadium普通股和 542,612,224 關於Arcadium普通股的CDIs）發行給原Allkem股東。 收購日期轉移考慮的公允價值包括以下內容：
(單位：百萬)金額
代價：
向Allkem股東發行的Arcadium普通股的公允價值$4,385.6 
歸因於合併前服務的轉換後Allkem績效權益的公允價值4.8 
總對價$4,390.4 
Allkem和Livent的合併符合作爲業務組合進行會計處理的標準，並使用收購法進行會計處理，Livent被視爲會計收購方。在收購法下，Allkem及其子公司的資產和負債在Allkem和Livent合併完成日按照各自的公允價值入賬，支付給被收購實體的對價的公允價值與取得的淨資產公允價值之間的差額被記錄爲商譽。
根據業務合併指引，Allkem的資產、負債和非控制權益的公允價值，包括所得稅影響，是暫定的。暫定的公允價值分配可能在收購日後的一年內發生變化。確定Allkem的資產和負債的公允價值需要做出判斷和一定的假設，其中最重要的是與Allkem礦山資產和權利的估值有關。
2024年9月30日結束的九個月內，已對以下情況在允許的計量期內進行調整：房地產、廠房及設備增加了$0.6百萬，遞延所得稅資產減少了$16.7百萬，應付賬款、交易及其他增加了$1.8百萬，所得稅減少了$0.3百萬，環保母基責任減少了$9.1百萬，遞延所得稅負債減少了$27.7百萬，其他長期負債增加了$3.7百萬，商譽淨減少了$15.3百萬。根據ASU 2015-16「業務組合」指引，在2024年9月30日結束的九個月內，測量期調整已反映爲當期調整。 測量期調整對當期的收益或現金沒有影響。
Allkem收購相關的交易和相關成本，主要包括顧問費、法律費、會計費以及某些與交易相關的獎金，合計爲$12.2 分別相比較。2024年9月30日止三個月和九個月的有效稅率爲$99.0 分別爲2024年9月30日結束的三個月和九個月，支出當期發生，已計入重組及其他費用。

18
目錄

ARCADIUm LITHIUm PLC
財務報表附註（未經審計）—（續）
下表總結了截至2024年1月4日的Allkem Livent合併初步購買價格分配情況，該情況可能會發生變化:


(以百萬計，除每股金額之外)金額
總對價$4,390.4 
獲得的資產:
現金及現金等價物$681.4 
交易應收款64.2 
存貨121.3 
預付和其他流動資產87.2 
物業、廠房及設備4,326.1 
使用權資產-經營租賃，淨額53.4 
遞延所得稅資產9.6 
其他資產(1)
192.7 
獲取的總資產$5,535.9 
負債承擔:
應付賬款，交易和其他$223.7 
應計及其他流動負債35.1 
所得稅78.5 
包括流動部分的長期債務301.7 
經營租賃負債-長期53.4 
環保母基9.8 
遞延所得稅負債1,289.0 
其他長期負債53.2 
承擔的總負債$2,044.4 
收購淨資產公允價值$3,491.5 
添加：已取得非控制權益的公允價值 275.0 
已取得的淨資產的公允價值減去已取得的非控制權益$3,216.5 
商譽$1,173.9 
___________________
1.包括開多期半成品庫存。
交易應收款
從2023年12月31日至2024年3月31日，淨合同資產增加$64.2 百萬美元的收購交易應收賬款代表了合同項下應付總額的公允價值。
固定資產
房地產、廠房及設備中包含的礦業權的公允價值總額爲$2,745.0百萬，非礦業權房地產、廠房及設備總額爲$1,581.1百萬。礦業權的公允價值是使用多期盈餘超額法進行估算的。盈餘超額法是一種收入途徑的方法，用於估計歸因於資產的企業預計現金流量，扣除用於其他可辨認資產的使用費（包括運營資本、固定資產和其他無形資產）。礦業權採用產量法折舊，而其他所有房地產、廠房及設備則採用直線法進行折舊。
商譽
收購企業所產生的商譽，代表了購買價格超過已獲得淨資產公允價值的部分。根據表格披露的金額，在收購日期起一年內可能會有變化，主要歸因於包括Allkem業務和運營納入公司運營所創造的增長機會和預期的協同效應價值，以及組建的員工隊伍價值。商譽對所得稅目的沒有可攤銷基礎。

19
目錄

ARCADIUm LITHIUm PLC
財務報表附註（未經審計）—（續）
Allkem的營收和盈利
以下表格展示了Allkem的收入和淨收益，這些數據包含在Arcadium從收購日期至2024年9月30日的簡明合併運營報表中。
（數以百萬計）截至9月30日的三個月截至9月30日的九個月
2024
營業收入$56.6 $242.9 
稅前營業（損失）/收入$(44.6)$107.6 

Pro Forma財務信息
由於Allkem Livent合併於2024年1月4日完成，除了1月的頭三天由於管理層認爲並不重要之外，2024年第一季度的所有活動均包含在Arcadium的簡明合併經營報表中。以下未經審計的截至2023年9月30日的三個月和九個月的財務信息基於我們的歷史合併財務報表進行調整，以反映如果Allkem Livent合併於2023年1月1日，即最近完成的財政年度的第一天發生的情況。未經審計的合併財務信息並不一定表明如果Allkem Livent合併在所呈現期間開始時完成，會發生什麼，也不表明未來的結果。未經審計的合併信息並不一定表明如果收購在2023年1月1日完成後會實現的營運結果，並不打算預測收購後公司的未來財務結果。未經審計的合併信息是基於管理層認爲合理的某些假設，並不反映任何整合活動或可能從任何整合活動中獲得的協同效益的成本。 未經審計的合併財務結果如下：
（數以百萬計）截至9月30日的三個月截至9月30日的九個月
2023
（未經審計）
營業收入$538.5 $1,677.7 
淨利潤299.0 $812.4 

註釋5： 商譽

以下表格總結了截至九個月的商譽變化 2024年9月30日.

（數以百萬計）AllkemNemaska 鋰礦總計
2023年12月31日期初餘額
$— $120.7 $120.7 
收購 - Allkem livent合併1,189.2 — 1,189.2 
測量期調整(15.3)(1.4)(16.7)
截至餘額 2024年9月30日
$1,173.9 $119.3 $1,293.2 

請查看註釋4以獲取更多詳細信息。


20
目錄

ARCADIUm LITHIUm PLC
財務報表附註（未經審計）—（續）

可能使我們面臨信用風險的金融工具主要包括應收賬款和計息投資。生命科學產品的批發分銷商佔據了我們的大部分應收賬款，通常不要求抵押品。我們通過持續的信用審查程序和保險來減輕與這種集中性相關的風險。我們的大部分現金由少數幾家主要金融機構持有。我們監測與這些機構的風險暴露，並不認爲這些機構有不履行其義務的風險。根據記載在文獻中的企業風險管理政策，我們監測與任何一個金融機構或企業發行人的信貸風險敞口的量。我們在風險管理工具的交易對手方不能履行其義務時會面臨與信貸相關的損失風險，但預計沒有任何交易對手不能履行其義務，因爲它們有高的信用評級。 營業收入確認
營收分解
我們根據產品目的地，按地域板塊和產品類別將與客戶的合同收入進行細分。 以下表格提供了按主要地域板塊細分的營業收入信息：
（以百萬計）截至9月30日的三個月截至9月30日的九個月
2024202320242023
亞太地區 (1)
$172.4 $163.8 $604.3 $502.4 
北美 (1)
22.1 31.9 65.6 124.5 
歐洲、中東和非洲8.6 15.6 47.6 72.0 
拉丁美洲— 0.1 1.3 1.8 
合併收入$203.1 $211.4 $718.8 $700.7 
1.截至2024年9月30日的三個月內，營業收入超過10%的國家包括中國、日本、韓國和美國。2024年9月30日的三個月內，中國、日本、韓國和美國的銷售額分別爲$111.4百萬，$33.9百萬，$24.8$400萬、$300萬和$500萬。21.7百萬。截至2024年9月30日的九個月內，營業收入超過10%的國家包括中國、日本和韓國。2024年9月30日的九個月內，中國、日本和韓國的銷售額分別爲$392.4百萬，$111.7$400萬、$300萬和$500萬。89.8百萬。截至2023年9月30日的三個月內，營業收入超過10%的國家包括中國、日本、美國和韓國。2023年9月30日的三個月內，中國、日本、美國和韓國的銷售額分別爲$95.6百萬，$42.1百萬，$30.0$400萬、$300萬和$500萬。20.6百萬美元，分別。截至2023年9月30日的九個月，營業收入超過10%的國家包括中國、美國、日本和韓國。2023年9月30日截至的九個月，中國、美國、日本和韓國的銷售額合計爲$274.9百萬，$120.0百萬，$118.2$400萬、$300萬和$500萬。86.9百萬，分別。
截至2024年9月30日的三個月內，兩位客戶每位佔據了大約 25營業收入的%，我們的10大客戶總共佔據了大約 77截至2024年9月30日的九個月內，兩位客戶分別佔據了營業收入的%，我們的10大客戶總共佔據了大約 23%和 20營業收入的%，我們的10大客戶總共佔據了大約 73截至2023年9月30日的三個月內，兩位客戶分別佔據了營業收入的%， 28 25其中一個佔據了營業收入的%和 78佔合併營業收入的%。截至2023年9月30日的九個月，大約有兩位客戶佔據了 25%和 22%的合併營業收入，我們十大客戶總共佔據了大約 70%的合併營業收入。任何重要客戶的流失都可能對我們的業務、財務狀況和經營業績產生重大不利影響。
以下表格提供了按主要產品類別分解的營業收入信息:
（數以百萬計）截至9月30日的三個月截至9月30日的九個月
2024202320242023
鋰礦氫氧化物$85.6 $142.8 $309.3 $449.2 
鋰礦碳酸鹽 (1)
56.0 9.0 208.5 23.6 
正丁基鋰和其他鋰特種產品39.4 59.6 130.2 227.9 
鋰輝石精礦 (2)
22.1 — 70.8 — 
營業收入總額$203.1 $211.4 $718.8 $700.7 
______________________
1.包括碳酸鋰副產品的營業收入。
2.包括低品位鋰輝石銷售和極少量其他產品。

合同資產和合同負債餘額
我們通過轉移商品和服務來滿足我們的義務，以換取來自客戶的對價。有時，履行的時間與收到客戶相關對價的時間不同，從而導致合同資產或負債的確認。在某些客戶合同中採用的臨時定價可能會導致確認
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ARCADIUm LITHIUm PLC
財務報表附註（未經審計）—（續）
合同資產或負債的確認。 如果客戶支付的對價在我們相關履約義務完成之前收到，則我們確認合同負債。
下表顯示了我們合同負債和當前交易應收款的期初和期末餘額，減去與客戶合同的準備金。
（數以百萬計）2024年9月30日的餘額2023年12月31日的餘額（減少）/增加
與客戶合同應收款項，減免後淨額$90.2 $106.7 $(16.5)
合同負債 - 短期55.1 4.4 50.7 
長期合同負債 251.2 217.8 33.4 

績效義務
偶爾，我們可能與客戶簽訂多年的按量購買或付款補償供應協議。與這些合同履行義務相關的預計要確認的營業收入總額約爲$1.6 十億在接下來的 五年。根據我們過去與這些安排下客戶的經驗，我們預計會繼續根據合同逐步將產品的控制權轉移給客戶來確認營業收入。然而，在發生成交量購買不足的情況下，我們將根據合同中客戶應支付的金額，在剩餘的履行義務期內確認。

註釋 7： 存貨淨額

存貨如下：
(以百萬計)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、供應品和其他106.1 49.6 
存貨淨額$389.6 $217.5 

存貨按成本或淨實現價值中的較低金額計量。存貨成本包括銷售前與產品直接相關的成本，包括所有制造業-半導體間接費用，但不包括分銷成本。所有存貨均按先進先出（"FIFO"）的原則確定。


註釋 8: 投資
2024年6月30日止的三個月，激勵報酬保持不變，2024年6月30日止的九個月增加了5500萬美元，主要是由於普特南公司的收購，延期報酬獎勵支出的增加，以及基於我們年度業績預期的更高獎金支出，部分抵消了專業投資經理的激勵報酬降低。
（以百萬爲單位）2024年9月30日2023年12月31日
ESm ILiAD，有限責任公司$30.1 $30.1 
Arcadium NQSP6.8 4.7 
TLC（成田工廠）2.4 — 
其他0.7 — 
投資$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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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
基本報表附註（未經審計）—（續）
我們正式記錄了套期工具與被套期項目之間的所有關係，以及進行各種套期交易的風險管理目標和策略。這一過程包括將被指定爲公允價值或現金流套期保值的衍生工具與資產和負債表上的特定資產和負債，或者與特定公司承諾或預測交易相關聯。我們在套期交易開始時和持續進行評估，判斷每個衍生工具是否高度有效地抵消被套期項目的公允價值或現金流變化。如果我們判斷某個衍生工具不是高度有效的套期工具，或者如果某個衍生工具不再是高度有效的套期工具，我們將停止繼續對該衍生工具的套期會計處理。

37
目錄

ARCADIUm LITHIUm PLC
基本報表附註（未經審計）—（續）
外幣匯兌風險管理
我們在許多國外開展業務，使得收入、現金流和我們的財務狀況面臨着外幣風險。其中大部分風險是由外幣交易產生的。我們面臨的主要貨幣匯率風險包括歐元、英鎊、人民幣、阿根廷披索、澳元、加幣和日元。目前我們不對與阿根廷披索相關的外幣風險進行對沖，這是因爲適合的衍生工具供應有限且成本較高。我們的政策是儘量減少對貨幣匯率不利變動的敞口。這是通過風險管理的一項有序計劃來實現的，其中可能包括使用外幣債務和遠期外匯合約。我們還使用遠期外匯合約來對沖公司和高度預期的外幣現金流，旨在平衡貨幣風險，從而有效保護免受貨幣市場大幅波動的影響。
信貸風險集中
我們與衍生合約的對手方主要是主要的金融機構。我們限制與任何一個金融機構簽訂的合約金額，並監控對手方的信用評級。我們還儘可能與每家金融機構簽訂主淨額協議，有助於減少與我們金融工具相關的信用風險。雖然我們可能由於對手方未履行義務而面臨信用損失，但我們認爲這種風險很小。
衍生工具的會計及對沖活動
現金流套期保值
我們將資產負債表上的所有衍生工具按公允價值計量。在進入衍生工具時點，我們通常將衍生工具指定爲對應預測交易的現金流量變動的套期保值（現金流量套期保值）。我們在累積其他綜合收益（"AOCL"）中記錄作爲現金流量套期保值指定並符合所有必要標準的衍生工具公允價值的變動。隨着基礎套期項目影響收入，我們隨後將這些金額重新分類爲收入。相反，我們會立即記錄未指定爲現金流量套期保值的衍生工具公允價值的變動爲收入。截至2024年9月30日，我們在AOCL中有淨的外幣遠期合約，稅後獲利爲$0.3百萬，指定爲基礎預測銷售和購買的現金流量套期保值。截至2024年9月30日，我們持有各種到期日的遠期合約，以購買、賣出或交易外幣，相當於約$美元。10.7股票回購活動以及因員工基於股票的補償目的而重新發行國庫股的情況如下：
稅後淨損益$0.3百萬，代表貨幣兌換的外匯合同，如果未來的現貨匯率與2024年9月30日的市場匯率一致，則將在截至2024年12月31日的一年期間實現收益。當預測的交易發生時，收益的實際影響將取決於實際的現貨匯率。我們在範圍簡化的經營活動綜合利潤表中的銷售成本一欄中確認衍生損益。

未指定爲現金流量套期工具的衍生工具
我們持有某些未被指定爲現金流量套期保值工具的遠期合約，用於對沖與特定貨幣資產和負債相關的外匯波動風險。這些合同未被指定爲現金流量套期保值工具，這些項目的公允價值變動將記錄在收益中。
我們持有着未指定爲現金流量套期工具的即期合同，用於會計目的，具有各種到期日，用於買入、賣出或者交易不同外幣，相當於約美元。115.1 2024年9月30日，我們持有未指定爲現金流量套期工具的即期合同，用於會計目的，以美元相當於約1000萬美元。
38
目錄

ARCADIUm LITHIUm PLC
基本報表附註（未經審計）—（續）
衍生工具公允價值
以下表格提供了我們衍生工具的總正公允價值和淨資產負債表呈現。截至2023年12月31日，公司沒有未結算的衍生現金流量套期交易合同。
2024年9月30日
衍生品的總金額
（數以百萬計）指定爲現金流量套期交易
衍生工具資產
匯率期貨合同$0.4 
總衍生資產 (1)
0.4 
淨衍生資產$0.4 
__________________
1.淨餘額包含在簡明合併資產負債表的預付款和其他流動資產中。

以下表格總結了與現金流量套期工具和未指定爲現金流量套期工工具有關的收益或損失。
與現金流量避險有關的衍生品
（數以百萬計）總彙率期貨合約
按截至2023年12月31日稅後處理的累積其他綜合收益$— 
未實現套期保值收益，稅後 0.2 
總衍生工具對綜合收入的影響，稅後0.2 
按截至2024年3月31日稅後處理的累積其他綜合收益$0.2 
未實現套期保值收益，稅後 0.1 
總衍生工具對綜合收入的影響，稅後0.1 
2024年6月30日稅後其他綜合收益累計金額$0.3 
稅後未實現對沖損失淨額 (0.1)
稅後對未實現對沖損失進行重新分類淨額0.1 
稅後衍生工具對綜合收益的總影響— 
2024年9月30日稅後其他綜合收益累計金額$0.3 
39
目錄

ARCADIUm LITHIUm PLC
財務報表附註（未經審計）—（續）
（數以百萬計）總彙率期貨合同
年度截至2022年12月31日的其他綜合收益累計額，稅後$— 
未實現的對沖收益，稅後 0.2 
總衍生工具對綜合收益的影響，稅後0.2 
截至2023年3月31日的其他綜合收益累計額，稅後$0.2 
未實現的對沖收益，稅後 0.4 
總衍生工具對綜合收益的影響，稅後0.4 
2023年6月30日之累計其他全面收入，稅後$0.6 
未實現對沖損失，稅後 (0.6)
遞延對沖收益的再分類，稅後0.2 
衍生工具對綜合收入的總影響，稅後(0.4)
2023年9月30日之累計其他全面收入，稅後$0.2 
未指定爲現金流量套期工具的衍生品
損益的地點
在衍生品上已確認的收益
稅前收益或(損失)的金額
在衍生品上已確認的收益 (1)
截至9月30日的三個月截至9月30日的九個月
（數以百萬計） 2024202320242023
匯率期貨合同其他收益/(損失)$2.2 $(0.1)$15.3 $1.8 
總計$2.2 $(0.1)$15.3 $1.8 
____________________
1.金額代表對沖工具的收益或損失，抵消對沖項目的收益或損失。

公允價值衡量
在確定所持投資的公允價值時，公司主要依賴於獨立第三方評估者對證券的公允估價。該公司還審核估值過程中使用的輸入，並在進行自己的經紀人引用價格的內部收集後對證券的定價進行合理性評估。獨立第三方評估者提供的所有投資類別的公允價值，如果超過公司確定的公允價值的一定百分比，則會與獨立第三方評估者溝通，並考慮其合理性。獨立第三方評估者在確定他們最初的定價是否合理之前，會考慮公司提供的信息。
以下表格展示了我們資產負債表中按照公允價值計量、以公允價值計量的資產和負債的公允價值層次。
（數以百萬計）2024年9月30日相同資產在活躍市場的標價
(一級)		其他重要可觀察輸入
（三級）		重要的不可觀察的輸入
非市場可觀察到的輸入（三級）
資產
延期薪酬計劃投資 (1)
$6.9 $6.9 $— $— 
JEMSE應收款5.0 — — 5.0 
股票證券 (2)
0.7 0.7 — — 
衍生產品 - 匯率期貨 0.4 — 0.4 — 
總資產$13.0 $7.6 $0.4 $5.0 
負債
延期薪酬計劃義務 (3)
$7.6 $7.6 $— $— 
總負債$7.6 $7.6 $— $— 
 
40
目錄

ARCADIUm LITHIUm PLC
財務報表附註（未經審計）—（續）
（數以百萬計）2023年12月31日相同資產在活躍市場上的報價
(一級)		其他重要可觀察輸入
（三級）		重要的不可觀察的輸入
非市場可觀察到的輸入（三級）
資產
推遲薪酬計劃投資 (1)
$4.1 $4.1 $— — 
總資產$4.1 $4.1 $— $— 
負債
推遲薪酬計劃義務 (3)
$6.7 $6.7 $— $— 
負債合計 (4)
$6.7 $6.7 $— $— 
____________________
1.資產負債表中包含了投資。Arcadium NQSP對Arcadium普通股的投資記錄在資產負債表中，並以歷史成本計量。$的按市值計量收益0.11百萬美元和1.2分別記錄在2024年9月30日和9個月內。分別記錄在截至2024年9月30日的三個月和九個月期間的$百萬的按市值計量收益1.01百萬美元和0.2，涉及Arcadium普通股的2023年9月30日以及9個月期間的三個月分別記錄爲多少百萬的按市值計量收益。按市值計量的收益和損失記錄在損益表的銷售、總務及管理費用中，在資產負債表中的遞延薪酬計劃義務中有相應的抵銷。
2.按市場價計算的收益和損失記錄在綜合損益表的其他收益/損失中。
3.資產負債表中，餘額包含在其他長期負債中。
4.截至2023年12月31日，公司沒有開放的現金流量套期交易合約。


Note 20： 承諾和不確定性
備用金
我們是多項法律訴訟的當事方，其中某些事項將在下文討論。Arcadium在獲知有可能發生損失並且該損失金額或損失範圍可以合理估計時，記錄了預計損失的負債。隨着有關信息的進一步獲得，管理層調整其評估和估計。法律費用按發生即支出。
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，阿根廷經濟部發布了一項取消與鋰產品相關的出口退稅制度的決議，隨後於2023年2月發佈了第57/2023號總統令。總統令預計將取消鋰產品的所有出口退稅。在總統令頒佈之前，MdA和SDJ有權收款 4出口產品離岸價格的百分比（包括 「拉普納」 退稅，即 2.5% 和 「出口」 退稅 1.5%)。2023 年 10 月，根據第 557/2023 號總統令，出口退稅 1.5% 已恢復。在 2023 年 10 月 26 日生效的總統令之後，MdA 和 SDJ 有權獲得 1.5其出口產品的離岸價格的回扣/退款百分比。截至2024年9月30日，MdA和SDJ的應收賬款約爲美元5.1 百萬美元和美元1.5分別爲百萬美元，在總統令頒佈後仍然有效並仍然有效。
公司目前無法估計可能存在的責任範圍。
澳洲稅務事宜
我們於2024年4月16日收到通知，澳大利亞稅務局將對Allkem Pty Ltd及其澳大利亞子公司在2019年7月1日至2023年6月30日之間的綜合保證審查進行審計。
加拿大稅務事宜
我們收到通知稱鋰礦公司已收到加拿大稅務局（"CRA"）關於2020年10月15日根據魁北克省高級法院發佈的《公司債務人安排法》（"CCAA"）下發出的批准和授予訂單（"RVO"）的某些審計查詢。 鋰礦公司已在回應這些查詢。
證券集體訴訟案件
2024年9月6日， 兩個 對該公司在賓夕法尼亞州費城縣民事陪審法庭提起了兩起獨立的證券集體訴訟案件（龐提亞克市再建總僱員養老基金等對Arcadium鋰礦股份有限公司等提起訴訟，以及Satish Chalasani和Kelly Johnson等代表自己和其他同類情況的人對Arcadium鋰礦股份有限公司等提起的訴訟）。每起訴訟聲稱涉及Allkem Livent合併帶來的證券法問題，並尋求未知數的賠償。如果有的話，公司目前無法估計可能的責任範圍。
租約
截至2024年9月30日和2023年12月31日，我們所有租賃均爲經營租賃。我們在公司辦公室、製造業設施和土地上有經營租賃。我們的租賃合同剩餘租賃期限爲 兩個至27年.
公司在Allkem livent合併中假設了一個ROU資產和相應的租賃負債，金額爲$53.4百萬，所有這些都被視爲經營租賃處理。
關於我們的租賃情況的定量披露如下表所示。
截至9月30日的三個月截至9月30日的九個月
(金額以百萬計，除加權平均數外)2024202320242023
租賃成本
經營租賃成本 $4.4 $0.4 $12.9 $1.0 
短期租賃成本
0.1 0.1 0.3 0.3 
租賃總成本 (1)
$4.5 $0.5 $13.2 $1.3 
其他信息
支付與租賃負債計量相關的現金：
支付租賃費用的現金$4.2 $0.4 $12.4 $1.1 
__________________________
1.租賃費用在我們的簡明綜合利潤表中被歸類爲銷售、總務及管理費用。

截至2024年9月30日，我們的經營租賃剩餘加權平均租期爲 8.4 %。截至2019年6月30日，租賃協議規定的未來支付如下： 8.6%.
42
目錄

ARCADIUM 鋰業有限公司
簡明合併財務報表附註（未經審計）—（續）
下表顯示了我們經營租賃負債在未來五年中的到期分析，以及剩餘年份的總額。

（數以百萬計）未折現現金流
2024年餘下的時間$3.1 
202510.3 
20269.5 
20278.8 
20288.5 
此後35.6 
未來最低租賃付款總額75.8 
少：推定利息(19.3)
總計$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:
（數以百萬計）2024年9月30日2023年12月31日
預付和其他流動資產
稅務相關事項$100.8 $29.5 
預付費用51.0 16.9 
阿根廷政府應收款項 (1)
42.2 7.9 
其他應收款48.4 28.2 
銀行承兌匯票 (2)
1.7 — 
衍生資產（注19）0.4 — 
其他資產3.4 3.9 
總計$247.9 $86.4 

（數以百萬計）2024年9月30日2023年12月31日
其他
阿根廷政府應收款項 (1), (3)
$119.6 $71.3 
預付給代工廠商 (4)
27.4 27.6 
長期半成品庫存142.4 1.0 
稅務相關事項4.3 4.0 
資本化的軟件，淨額1.8 1.1 
對鋰礦交通的投資 (5)
43.9 — 
其他50.0 22.7 
總計$389.4 $127.7 
_________________
1.我們有各種在阿根廷開展業務的子公司。截至 2024 年 9 月 30 日和 2023 年 12 月 31 日，美元41.5 百萬和美元38.8 阿根廷政府到期的未清應收賬款中，分別有100萬美元以美元計價，主要是出口稅和出口退稅應收賬款。最近一項與美元計價的應收出口稅部分有關的司法裁決34.8百萬允許阿根廷政府按照過去每個付款日適用的歷史外匯匯率，以阿根廷披索向我們償還阿根廷披索，並根據銀行存款利率進行調整。儘管Arcadium於2023年11月6日提起上訴，並認爲其在技術方面有有效的辯護，但此事的最終解決可能會導致高達美元的損失34.3百萬。我們通過分析歷史經驗、當前收款趨勢以及區域商業和政治因素等因素，持續審查所有未清應收賬款的可收回性。
2.銀行承兌匯票是一種常見的中國金融票據，用於結算貿易交易。公司根據旨在確保可收回性和限制營運資本使用的標準，接受來自中國客戶的這些票據。
3.2023年6月，公司決定支付$21.7百萬用於布宜諾斯艾利斯、埃澤奇薩和薩爾塔海關要求的出口關稅和利息，這些要求涉及2018年至2022年在這些地點進行的出口登記。此支付停止進一步利息的計息。這是一個帶保留抗議的存入資金，不是對海關要求的任何承認或放棄公司任何抗辯的行爲，包括存入資金及利息的追回。此案件仍在討論中。請參閱 Note 20了解更多信息。
4.我們記錄延期費用，用於某些合同製造業協議，我們在基礎合同期限內分期攤銷。
5.代表公司在2024年第三季度向Nemaska Lithium投入的現金，由於有一個季度的滯後報告，尚未記錄在我們對Nemaska的合併報表中。該餘額記錄在其他資產-非流動資產中，因爲預計Nemaska將主要用於資本支出。由於有一個季度的滯後報告，IQ在2024年第三季度也同時做出了同等貢獻，並未記錄在我們對Nemaska的合併報表中。有關詳情請參閱註釋9。
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目錄

ARCADIUm LITHIUm PLC
財務報表附註（未經審計）—（續）


（數以百萬計）2024年9月30日2023年12月31日
應計及其他流動負債
應計工資$55.5 $31.2 
重組準備金2.0 1.7 
養老責任 - 401k3.6 3.2 
環保母基，當前2.8 0.5 
在未納入合併範圍的關聯公司中計提的投資— 27.0 
其他應計及其他流動負債 (1)
111.6 73.2 
總計$175.5 $136.8 


（數以百萬計）2024年9月30日2023年12月31日
其他長期負債
延期薪酬計劃義務$7.6 $6.7 
與不確定稅務事項相關的備用 (2)
9.1 6.2 
自保留款1.1 1.1 
資產養老責任12.5 3.7 
其他長期負債61.7 3.6 
總計$92.0 $21.3 
____________________
1.金額主要包括與我們的擴張項目相關的已計提資本支出。主要包括與我們擴張項目相關的已計提資本支出。
2.截至2024年9月30日，我們已記錄了一筆不確定稅務處置責任，金額爲$8.7循環信貸額度，總共可借款$百萬0.4 百萬美元的擔保責任，用於與FMC之間的補償不確定稅務處置，根據稅務事務協議。
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第2項。管理層對財務狀況和經營業績的討論和分析
關於前瞻性信息的特別說明
1995年《私人證券訴訟改革法》中安全港條款聲明： 我們和我們的代表可能不時發表書面或口頭"前瞻性"語句，提供非歷史信息，包括本季度報告表格10-Q中第2項所含的語句，以及我們在其他提交給SEC的文件中，或向股東的報告中的語句。
在某些情況下，我們已經通過諸如"可能導致"、"有信心"、"期望"、"預計"、"應該"、"可能"、"將繼續"、"相信"、"認爲"、"預期"、"預測"、"預測"、"估計"、"項目"、"潛在"、"打算"或類似表達來識別前瞻性聲明，「前瞻性聲明」一詞是指1995年《私人證券訴訟改革法案》的內涵，包括這些詞和短語的否定。這些前瞻性陳述是基於我們當前對未來事件、未來業務狀況以及基於當前可獲得信息的公司前景的看法和假設。這些前瞻性聲明可能包括我們未來財務業績的預測，我們預期的增長戰略，我們業務中預期的趨勢，力拓後併購的預期時間、結果和影響以及預期時間、預期完成和力拓交易的影響，以及萬一由於任何原因力拓交易未能及時完成或根本未能完成時的潛在影響。這些陳述只是基於我們對未來事件的當前期望和預測的預測。這些陳述涉及已知和未知的風險、不確定性和其他因素，可能導致實際結果與任何前瞻性陳述所表達或暗示的任何結果、活動水平、績效或成就大不相同。
投資者應當仔細考慮我們2023年年度10-k表格中第I部分第1A項和本季度10-Q報告中第II部分第1A項討論的風險因素。
儘管我們認爲前瞻性聲明中所反映的預期是合理的，但我們無法保證未來結果、活動水平、績效、成就、合併後的Livent和Allkem的整合、力拓交易的時間、完成時間和影響等。此外，我們或其他任何人都不對這些前瞻性聲明的準確性和完整性承擔責任。我們希望警告讀者不要過分依賴這些前瞻性聲明，這些聲明僅代表製作日期。我們沒有義務，明確拒絕在本季度10-Q表格之後的日期公開修改或更新這些前瞻性聲明，以使我們之前的聲明符合實際結果、修訂後的預期或反映預期或意外事件的發生。
關鍵會計估計的應用
我們的簡明綜合財務報表符合美國通用會計準則。我們財務報表的編制要求管理層進行判斷、假設和估計，這些因素影響了資產、負債、收入和支出的報告金額，並可能對我們的財務狀況和業務成果產生重大影響。我們在2023年年度報告的第II部分第8項中列示了某些會計估計，詳見我們綜合財務報表的註釋2。SEC已將關鍵會計估計定義爲根據美國通用會計準則做出的那些涉及重大計量不確定性並且已經或很可能對公司的財務狀況或經營績效產生重大影響的估計。
我們已審查了這些會計估計，確定了我們認爲存在固有不確定性、具有重大主觀性和複雜判斷，對編制和理解我們簡明合併財務報表至關重要的事項。我們已在2023年度10-K表格的第7條目中描述了我們的關鍵會計估計。這些包括營業收入確認、交易和其他應收賬款、資產減值和長期資產以及權益法投資的估值、企業合併的會計覈算，以及所得稅。我們已與董事會審計委員會審查了這些關鍵會計估計。關鍵會計估計是我們經營結果和財務控件呈現的核心，並要求管理層對某些事項作出判斷、假設和估計。我們的估計、假設和判斷基於歷史經驗、當前狀況和其他合理因素。除了在我們的10-K表格中描述的關鍵會計估計，我們還添加了「資源」、「庫存」、「折舊與攤銷」和「商譽」如下述。
由於通貨膨脹、高利率期貨和各種全球衝突，全球經濟和金融市場出現了不確定性和混亂。用於營業收入確認、交易應收款項的收回能力、長期資產的減值和估值，以及所得稅的估算等預計可能會受到影響。我們已評估了影響，並未發現需要更新我們的預計和假設或者對資產或負債的賬面價值造成重大影響的具體事件或情況，截至本季度報告10-Q形式發佈日期。這
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隨着新事件發生和獲取額外信息，估計可能會發生變化。在不同假設或條件下，實際結果可能與這些估計有實質差異。
概述
Arcadium 鋰礦 是全球領先的鋰化學品生產商，產品種類繁多，業務規模加強，包括在三個主要鋰礦區（即南美的"鋰三角區"，西澳大利亞和加拿大）擁有業務，以及世界上最大的鋰礦存款基地之一。我們是一家純粹的，完全集成的鋰公司，擁有悠久、經過驗證的生產性能鋰化合物的歷史。我們的主要產品，即電池級鋰氫氧化物、碳酸鋰、鋰輝石、正丁基鋰和高純度鋰金屬都是各種性能應用中關鍵的輸入。
由於我們專注於爲迅速增長的電動汽車（「EV」）和更廣泛的能源存儲電池市場提供性能優良的鋰化合物，我們預計我們從氫氧化鋰和碳酸鋰以及能源存儲應用中產生的營業收入將隨時間增加。我們還預計我們按地理位置的營業收入將保持在類似比例，直到供應鏈在北美和歐洲進一步區域化。我們打算繼續保持在其他高性能市場的領先地位，如不可充電電池、潤滑脂、製藥品和聚合物。
我們相信，憑藉我們產品在客戶生產工藝中的性能和我們提供的應用知識和技術支持，我們已經在我們服務的市場中贏得了領先供應商的聲譽。在電動車市場中，我們是少數幾家鋰礦供應商之一，其電池級羥基鋰已被全球客戶認可，可用於其最終用於大規模電動車項目中的正極材料生產。在我們的歷史中，隨着終端市場應用技術的發展，我們與客戶密切合作，了解他們不斷變化的性能要求，並開發產品以滿足其需求。
作爲一個垂直一體化的鋰礦生產商，我們受益於運營世界上一些最低成本的鋰礦礦牀，這些礦牀還具有良好的、行業領先的可持續性足跡。 阿卡迪亞在阿根廷的死亡之人鹽沼的芬尼克斯操作中提取鋰滷水已經超過多年 開空, 約爲80年，一直在生產各種鋰化合物。我們的運營歷史使我們深刻了解從滷水中安全可持續地提取鋰化合物的過程。我們已經開發了獨有的工藝知識，使我們能夠生產高質量、低雜質的碳酸鋰和氯化鋰，並幫助我們生產行業領先質量的下游產品。我們從阿根廷多個低成本運營中獲取大部分用於生產性能鋰化合物的鋰。我們在阿根廷的業務可擴展，使我們能夠增加碳酸鋰和氯化鋰的生產以滿足不斷增長的需求。我們還在澳洲進行硬巖礦業運營，生產鋰輝石精礦。
我們是少數幾家具有全球製造能力的鋰礦化合物生產商。今天我們在美國、中國和日本生產的電池級碳酸鋰使用碳酸鋰作爲原料。我們使用氯化鋰來生產鋰金屬，在美國、英國和中國生產氫化丁基鋰產品的主要原料，以及在美國生產高純度鋰金屬。我們在鋰羥化物、碳酸鋰、氫化丁基鋰和高純度鋰金屬的生產工藝和產品應用方面擁有重要的技術和經驗，我們相信這爲我們在這些市場上提供了競爭優勢。
待處理力拓交易
2024年10月9日，Arcadium鋰礦與力拓簽署了《力拓交易協議》，根據《1991年澤西公司法》的方案，在力拓交易結束時，公司的所有普通股，每股面值爲1.00美元，將從公司股東轉讓至力拓，以換取每股普通股5.85美元的現金金額，不含利息。
力拓交易的完成受力拓交易協議約定的慣常收盤條件約束，包括但不限於獲得監管批准和公司股東批准。預計力拓交易將在2025年年中關閉，前提是滿足關閉條件。
如果力拓交易完成，公司的普通股將會在紐約證券交易所除牌，公司根據1934年修訂的《交易所法案》的登記將在力拓交易生效後儘快終止，而由公司發行的CHESS存託憑證將在力拓交易生效前立即在澳大利亞證券交易所Ltd上停牌。
力拓交易協議包含了公司和力拓的某些終止權利，包括如果力拓交易在2025年10月9日之前未完成，根據某些情況可以自動延期兩個三個月，直到2026年4月9日，如果某些監管批准未獲得。力拓交易
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協議規定，如果力拓交易協議終止，公司將向力拓支付2億美元的終止費，情況包括力拓交易協議中描述的某些事件，包括如果公司終止與董事會改變其建議的力拓交易協議有關，並且如果力拓因公司董事會改變其建議而終止力拓交易協議。如果力拓交易協議在某些情況下終止，並且公司在此類終止後12個月內與替代交易達成協議，公司可能也需要支付終止費用。詳情請參閱註釋1。
前述的力拓交易協議摘要及其所設想的力拓交易，並不意味着完整，並且完全受限於力拓交易協議的條款和條件，請參閱已提交本10-Q表格的附件2.1上的力拓交易協議備份。
卡特林山地點已被安置至護理和維護狀態
2024年9月4日，Arcadium 鋰礦宣佈將暫停西澳州的Mt Cattlin 鋰輝石 控件的4A階段剝離廢石，以及在第3階段之後的任何擴張性投資，鑑於輝石價格的下降。因此，公司計劃在2025年上半年結束後，完成Mt Cattlin 地點的第3階段開採和礦石加工後，將Mt Cattlin 地點置於保養狀態。公司不打算關閉Mt Cattlin。保養將使礦山和加工設施保持在一個可能在市場條件變得更有利時恢復運營的位置。公司還將繼續評估在Mt Cattlin 地點進行地下采礦的可行性，這可能會延長剩餘礦山壽命。
2024年第三季度，由於計劃將Cattlin山置於護理和維護狀態，公司確定存在減值的因素，並在使用收益法評估後，確定Cattlin山資產的未折現現金流量不大於其賬面價值，導致截至2024年9月30日三個月的非現金支出爲5170萬美元，記錄在損益簡表中的減值費用中。詳見附註10。
資本支出和產能擴張
鑑於當前鋰礦市場情況，公司決定推遲對其四個目前擴張項目中的兩個項目的投資。公司仍然看好鋰礦需求的強勁長期增長軌跡，並致力於按照市場和客戶支持的時間表開發其擴張機會組合。
Arcadium 鋰礦打算暫停在其位於加拿大的40,000公噸鋰碳酸鹽當量（"LCE"）斯泊卡石榴石星系項目（原名"詹姆斯灣"）的當前投資。在項目最終恢復時，支出的暫停將被結構化以最小化成本和時間上的干擾。 Nemaska 鋰礦項目仍在進行中。
此外，Arcadium 鋰礦已經調整了在阿根廷Hombre Muerto鹽沼地區的25000噸碳酸鋰項目的順序。與先前宣佈的同時執行Fénix第10億階段和Sal de Vida第1階段不同，這些項目現在將按順序完成，預計Sal de Vida第1階段將首先完成。
作爲Olaroz 2號階段持續生產開始的一部分，在阿根廷的一個25,000公噸鋰碳酸鹽擴建項目中，公司已經確定並正在評估進一步需要更多資金來解決生產質量和可靠性的潛在問題。
鋰金屬交易
2024年8月2日，Arcadium宣佈收購了Li-Metal Corp的鋰礦業務部門。 這筆總價1100萬美元的現金交易包括與鋰金屬生產相關的知識產權和實物資產，包括加拿大安大略省的試點生產設施。
Arcadium 鋰礦使用鋰金屬製造特種產品，包括高純度鋰金屬（"HPM"）和LIOVIX®，一種專有的可打印的鋰金屬配方，用於主要電池應用和下一代電池。Arcadium 鋰礦還將鋰金屬加工成丁基鋰，以及用於醫藥、農業、電子和其他行業的其他鋰特種化學品。
Allkem和livent的合併
2024年1月4日，Arcadium 鋰礦 完成了Allkem livent的併購。
根據10-Q表格，在2024年1月4日完成的Allkem Livent合併中，Arcadium Lithium plc是Livent的繼任公司，我們展示了前身Livent截至2023年9月30日的三個月和九個月的運營結果，以及截至2023年12月31日的情況，不包括Allkem的財務狀況或運營。在2024年1月4日的Allkem Livent合併結束後，公司的財務報表呈現
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本《10-Q表格》中包括Allkem的財務狀況和運營情況。由於Allkem Livent合併，我們截至2024年1月4日後的報告期的財務信息（反映Allkem運營結果）將與合併前的報告期的財務信息（包括本《10-Q表格》中呈現的信息）不能直接進行比較。
細分信息
2024年1月，鋰礦Arcadium完成了Allkem livent的合併。有關詳細信息，請參閱附註4，Allkem livent合併。在Allkem livent合併結束後，由於我們的產品和服務之間的共同點，我們目前作爲一個可報告部門運營。隨着整合的發展，我們將繼續評估這一決定。
業務更新
自Allkem Livent合併結束以來，我們一直致力於安全整合傳統的Allkem和Livent業務，並確定並執行成本節約、商業和運營協同效應。這包括優化辦公空間和員工組織結構。我們正在改進資本管理系統和流程，我們相信這將導致更高效和及時的資本支出決策和支出。總體而言，我們試圖使隨時間推移，擴展活動能夠由運營產生的現金支持，儘管這在短期內可能不可行。我們繼續在傳統的Allkem和Livent業務之間協調不同的流程和報告標準，包括用於會計和報告礦產資源和儲量的標準。
我們在阿根廷擁有多年可靠的鋰礦產量。然而，我們在阿根廷的運營面臨着獨特的挑戰。阿根廷的外匯儲備仍然枯竭。雖然阿根廷的通貨膨脹率已經放緩，但阿根廷仍然是一個通貨膨脹嚴重且貨幣不穩定的經濟體。該國天然氣、石油和電力價格高企，社會、勞資和政治動盪不安。此外，有關阿根廷政府未來償還大額國際債務義務的財政不確定性。外匯儲備困難導致對外匯交易實施重大限制，進而限制了進口，包括我們的運營和擴建項目所需的某些材料。此外，供應商對高通貨膨脹和無法補貨的擔憂導致產品和設備價格不確定性增加。
鑑於在阿根廷這些因素的混合作用，聯邦、省級和市級政府對獲取額外資金來源表現出越來越濃厚的興趣和關注，例如通過海關、專利費、稅收收入以及其他的私營和/或外國公司的讓步，包括鋰礦行業。薩爾塔州檢察官通知我們，其決定終止與薩爾塔專利權索賠有關的暫停協議（如我們2023年度10-K表格的年度報告中第I部分、第2項、屬性、個別物業、死人湖鹽沼、礦權和專利權報告的披露內容），自2024年8月9日生效。因此，基礎訴訟於2024年8月10日恢復。我們正在與加塔馬卡和薩爾塔各自的省份進行討論，以解決薩爾塔專利權索賠。我們無法保證我們的討論結果或時間安排。
此外，在2024年6月27日，阿根廷國會審議通過了《阿根廷人自由基礎和出發點法案》，該法案修訂了幾項現有法律，並創建了大型投資激勵制度（「RIGI」，西班牙文縮寫）。該法規於2024年7月8日生效。 RIGI 是一個適用於礦業板塊的促進制度，爲符合條件的項目提供監管、稅收、海關和匯率穩定的擔保，有效期爲從納入日期起的30年。2024年8月23日，國家政府發佈了批准 RIGI 規定的第749號法令。 然而，RIGI 的某些方面的實施取決於進一步法規的發佈。胡胡伊省（通過 2024年8月14日在官方公報上發佈的法令第6409號），薩爾塔省（通過 2024年9月19日在官方公報上發佈的法令第8451號）和卡塔馬卡省（通過 2024年9月27日在官方公報上發佈的法令5863號）已同意依從於 RIGI。公司目前正在進行分析，以判斷 RIGI 對其自身業務的範圍和應用。
2024年6月27日，阿根廷國會還通過了第27,743號法律《緩解性和重要稅收措施》，其中包括將採礦提取礦石的每噸口岸價值交納的最高賠償比例從百分之三（3%）提高到百分之五（5%）。對尚未開始施工（即處於開發階段或之前）的礦業項目，適用這項新的5%賠償上限。因此，這不應適用於我們在阿根廷進行的運營和擴張項目，這些項目由我們的子公司MdA，SDV和SDJ管理並開發。薩爾塔省通過《第8,448號省法》在2024年9月19日的官方公報上實施了這項新法律。
在阿根廷和加拿大，我們目前專注於整合和優化Livent和Allkem的不同業務，旨在從成本和生產效率的角度進行。我們的擴張努力（現已暫停並根據
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資本支出和產能擴張進展比最初預期的更爲緩慢且成本更高。我們正在調整擴張力度以適應市場條件、供應鏈挑戰和當地勞動力市場的能力。儘管如此，我們打算在客戶要求的時間內交付所需的額外產量。我們預期阿根廷的當前擴張工作不會受到卡塔馬卡省開展的全面和累積環境研究的影響，該研究由省最高法院下令進行，考慮了該地區所有項目的累積效應。管理團隊繼續監測阿根廷鄰近項目、地役權和土地權主張對我們的水資源和滷水權利、現有地役權和運營的累積影響。在阿根廷，涉及鋰礦滷水和水等流體資源的競爭權利分配方面幾乎沒有法律先例，政府在這方面的跟蹤記錄也十分有限。管理團隊還在監測我們的用水量與本地競爭對手之間的水平。
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.
爲了支持未來電動車和靜態儲能應用中不斷增長的電池需求，電芯製造商、正極材料生產商和鋰礦化學品生產商正在不同地理位置以不同速度增加產能。這些電芯、正極材料和鋰礦化學品生產線的客戶資格認證和推廣以及供應鏈中的庫存將進而決定整體鋰消耗量。與供應鏈中游和下游部分的產能增加相比，上游電池原材料資源開發通常需要更長的時間。所有這些變數可能會繼續爲整體電動車和電池供應鏈增添不穩定性和不確定性，這可能會影響到我們的業務。這可能會導致我們客戶對我們高性能鋰化合物的需求延遲，從而對我們的業務和增長計劃造成不利影響。
管理目前正在關注的主要事項包括：力拓交易的完成、與Allkem Livent合併相關的持續整合活動、我們正在進行的擴張項目的成本、進度和範圍，以及我們決定暫停的項目；阿根廷、美國、英格蘭等我們經營地的政治和經濟發展情況（特別是美國11月的選舉，以及可能導致的政府政策變化）；全球市場上電池級和總鋰化合物的供求平衡；鋰市場價格以及當前較低市場價格可能對收入和投資機會的影響；我們的生產邊際成本；通貨膨脹、利率和波動的外匯匯率，以及它們可能對我們的業務、客戶（以及他們試圖進行垂直整合和/或對供應商偏好）以及電動車等關鍵終端市場的負面影響；全球供應鏈和物流問題，以及我們交付產品和獲取關鍵輸入的能力；IRA對公司和客戶需求的影響；全球能源供應問題和價格；各種全球衝突可能帶來的潛在經濟和地緣政治後果；美國、歐洲等地對電動車和其他產品的關稅的定價、經濟需求和地緣政治影響；氣候變化的影響，包括野火、乾旱和靠近或影響我們業務的降雨等氣候事件、保險費、ESG合規成本和報告要求；以及我們業務附近的社區關係； 以及潛在的網絡安全概念違規。

50


2024年業務展望
對於合併的業務，我們預計銷量將增加，而不包括Mt. Cattlin，在去年，這是由於新生產能力在年後半段的擴張。這導致了更高的碳酸鋰和氫氧化鋰銷量，但由於2024年在Mt. Cattlin的減產，輝石精礦銷量下降。我們對2024年餘下部分的展望在很大程度上取決於我們鋰產品的市場價格，這些價格在2023年第四季度大幅下降，低於整個2023財政年度的平均值，並最近進一步下降。這種不確定性在某種程度上由商業協議下的現有銷量的定價機制降低。我們還預計成本將增加，與去年相比，來自新生產單位擴張的更高成本將被協同作用和節約成本舉措抵消。
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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日的三個月截至9月30日的九個月
2024
2023 (1)
2024
2023 (1)
LiventAllkemArcadiumLiventAllkemArcadium
（以百萬計）（未經審計）
收入$146.5 $56.6 $203.1 $211.4 $475.9 $242.9 $718.8 $700.7 
銷售成本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 
減值費用— 51.7 51.7 — — 51.7 51.7 
銷售、一般和管理費用22.1 17.6 39.7 13.2 59.7 35.4 95.1 47.1 
研究和開發費用1.0 0.2 1.2 1.3 3.2 0.6 3.8 3.3 
重組和其他費用4.7 5.0 9.7 8.7 79.8 31.6 111.4 35.0 
總成本和支出115.0 134.2 249.2 106.8 416.0 321.8 737.8 343.8 
未合併關聯公司的淨虧損、利息收入、淨額、債務清償損失和其他收益中扣除權益的運營收入/（虧損） 31.5 (77.6)(46.1)104.6 59.9 (78.9)(19.0)356.9 
未合併子公司淨虧損中的權益— 5.9 5.9 6.7 — 5.9 5.9 22.0 
利息支出/（收入），淨額1.0 0.5 1.5 — 2.4 (21.2)(18.8)— 
債務清償損失— — — — 0.2 0.9 1.1 — 
其他（收益）/損失(5.4)(39.4)(44.8)1.2 (29.9)(172.1)(202.0)(5.3)
所得稅前運營收入/（虧損）35.9 (44.6)(8.7)96.7 87.2 107.6 194.8 340.2 
所得稅（福利）/費用(33.4)9.3 55.7 47.8 
淨收入24.7 87.4 139.1 292.4 
歸屬於非控股權益的淨收益8.6 — 21.7 — 
歸屬於Arcadium鋰業公司的淨收益$16.1 $87.4 $117.4 $292.4 
_____________________
1.代表2023年9月30日結束的前身公司Livent的三個月和九個月的運營結果，以及2023年12月31日的情況，不包括Allkem的財務狀況或運營情況。
除了根據美國通用會計準則確定的Arcadium鋰礦有限公司歸屬於淨利潤外，我們還使用一些非通用會計準則的衡量指標來評估業務運營績效，比如我們定義爲Arcadium鋰礦有限公司歸屬於淨利潤加上非控制權益，利息支出/（收入），淨收入稅（益）/支出，折舊和攤銷；以及調整後的EBITDA，我們將EBITDA調整爲考慮了阿根廷重估損失/（收益），減值損失，重組和其他費用，Allkem livent合併庫存相關的准入調整，一次性藍籌股調換收益和其他的損失/（收益）。管理層認爲使用這些非通用會計準則的指標能夠使管理層和投資者更容易地比較其基礎業務的財務績效。所提供的非通用會計準則信息可能與其他公司披露的類似指標不可比擬，因爲其他公司在計算EBITDA和調整後的EBITDA時採用不同的方法。這些指標不應被視爲根據美國通用會計準則報告的淨利潤或其他績效或流動性指標的替代品。下表對比了EBITDA和調整後的EBITDA與歸屬於Arcadium鋰礦有限公司的淨利潤。
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截至9月30日的三個月截至9月30日的九個月
2024
2023 (1)
2024
2023 (1)
liventAllkem”和力拓發佈聯合新聞稿，宣佈進入交易協議（簡稱“liventAllkemArcadium
（數以百萬計）(未經審計)
稅前營業收入/(虧損)$35.9 $(44.6)$(8.7)$96.7 $87.2 $107.6 $194.8 $340.2 
增加回來:
利息支出/(收益)，淨額0.9 0.6 1.5 — 2.3 (21.1)(18.8)— 
折舊和攤銷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 
增加回來:
阿根廷再衡量損失/(盈利) (a)
5.2 (35.3)(30.1)11.6 0.8 (127.1)(126.3)20.5 
減值損失 (b)
— 51.7 51.7 — — 51.7 51.7 — 
重組和其他費用 (c)
4.7 5.0 9.7 8.7 79.8 31.6 111.4 35.0 
債務攤銷虧損 (d)
— — — — 0.2 0.9 1.1 — 
庫存增值，Allkem Livent合併 (e)
— 0.5 0.5 — — 21.0 21.0 — 
其他損失/收益 (f)
2.5 (1.5)1.0 5.0 6.0 (12.4)(6.4)15.8 
減去：— .
藍籌股交換獲利 (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)— 
調整後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日的三個和九個月的運營結果，不包括Allkem的財務狀況或經營情況。
a.主要代表貨幣波動對遞延所得稅資產和負債的影響。還包括貨幣波動對其他稅收資產和負債以及與我們資本擴張相關的長期貨幣資產以及外幣貶值的影響。複覈損失/（收益）包括在我們的簡明合併利潤表中的其他（收益）/損失中，但由於以下原因，它們被排除在我們的調整後的EBITDA計算之外：i.）其作爲與所得稅相關的性質；ii.）它們與長期資本項目的關聯，這些項目直到未來時期才開始運營；或iii.）貶值的嚴重程度及其對我國業務的立即影響。
b.2024年第三季度，公司計劃將其在澳洲西部的Mt Cattlin輝鉀礦控件置於護理和維護中，導致截至2024年9月30日的三個月和九個月內出現了5170萬美元的非現金支出，並記錄在精簡綜合經營報表的減值損失中(更多信息請參見第10注)。減值損失被排除在我們計算的調整後息稅折舊及攤銷前利潤中，因爲這些費用是非經常性的。
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.代表阿根廷披索出售阿根廷主權美元債券所獲得的非經常性收益，由於阿根廷藍籌股交換市場匯率與官方匯率產生分歧。
h.代表我們從阿根廷政府獲得的利息收入，該收入始於阿根廷政府批准我們部分與擴張相關的增值稅應收款項的收回性，並終止於退款日期。
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由阿根廷政府支付，但由於與將來期間不會投入運營的長週期資本項目有關，因此被排除在我們的調整後EBITDA計算之外。

2024年9月30日結束的三個月與2023年9月30日結束的三個月相比
營業收入    
2024年9月30日結束的三個月，營業收入爲20310萬美元，較2023年9月30日結束的三個月的21140萬美元減少約4%，或830萬美元，主要是由於鋰礦氫氧化物銷量減少1060萬美元以及所有livent歷史產品的價格降低約5430萬美元，部分抵消的收入是Allkem合併後貢獻的5660萬美元。
毛利率
2024年第二季度的毛利爲5620萬美元，較2023年第二季度的12780萬美元減少7160萬美元，約爲56.0%。毛利的減少主要是由於所有傳統livent產品的價格降低對毛利的影響達5430萬美元和營運成本增加1150萬美元，以及鋰礦氫氧化鋰的銷量減少280萬美元，並且由於Allkem合併後毛利損失310萬美元的影響。
減值損失
2024年第一季度的5170萬美元減值費用是由於公司計劃於2025年上半年完成第3階段採礦和礦石加工後，將Mt Cattlin輝鉬礦控件置於護理和維護狀態，導致長期資產減值。有關詳細信息，請參閱附註10。2023年第一季度未記錄任何減值費用。
銷售，總務及管理費用
2024年第四季度的銷售、一般和管理費用爲3970萬美元，同比增加2650萬元，增幅約爲201%，而2023年第四季度的費用爲1320萬美元。銷售、一般和管理費用的增加主要是由於Allkem發帖併購成本1760萬美元，以及2024年第四季度將Nemaska鋰礦的490萬美元合併基礎上推遲一個季度。
重組和其他費用
2024年第四季度的重組及其他費用爲970萬美元，較2023年第四季度的870萬美元增加了100萬美元。2024年第四季度的重組及其他費用主要包括與Allkem Livent合併有關的1220萬美元成本，以及60萬美元的離職相關費用。2023年第四季度的重組及其他費用主要包括與Allkem Livent合併相關的1360萬美元成本以及Bessemer City工廠火災保險賠償收益的500萬美元（詳見第11注）。
聯營公司淨損失
2024年第四季度，未合併隱形股東公司的淨虧損爲590萬元，這是我們在TLC的經濟利益所產生的，TLC經營Naraha工廠，並將其視爲股權法下的投資。2023年第四季度，未合併隱形股東公司的淨虧損爲670萬元，這是我們對Nemaska鋰礦項目的所有權利益所引起的，其持股比例爲50％，並被視爲2023年第四季度的股權法下的投資，代表了Arcadium承擔Nemaska鋰礦項目在Bécancour, Québec建設鋰水氧化物轉化工廠的相關成本的50％份額（詳細信息請參閱註釋9）。Nemaska鋰礦項目對2024年第四季度的情況滯後一個季度才進行合併。
所得稅（福利）/費用
2024年第一季度的所得稅減免額爲3340萬美元，導致有效稅率達到383.9%，相比於2023年第一季度的所得稅支出爲930萬美元，導致有效稅率爲9.6%，主要由於營運收入預期減少。此外，在2024年第一季度，蒙特卡特琳鋰輝石控件出現的減值損失錄得了1550萬美元的稅收減免。 更多詳情請參閱附註10。 阿根廷外匯波動導致的所得稅減免在2024年第一季度和2023年第一季度相似。 2024年第一季度錄得的收益爲1110萬美元，而2023年第一季度爲1150萬美元。
淨利潤
2024年第四季度的淨利潤爲2470萬美元，較2023年第四季度的8740萬美元下降6270萬美元，約爲71.7%。主要是由於7160萬美元的毛利率下降，2024年第四季度的減值損失爲5170萬美元，以及2650萬美元的較高銷售總務費用，部分抵消的主要是
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外幣重估收益，我們對阿根廷主權美元債券出售所得的收益，以及2024季度的所得稅益。

調整後 EBITDA
截至2024年9月30日三個月的調整後的EBITDA爲4290萬元，較2023年9月30日三個月的11970萬元下降7670萬元，主要是由於所有傳統livent產品的價格下跌造成的5430萬元減少以及不計折舊的較高運營成本310萬元，以及由鋰氫氧化物驅動的較低銷量280萬美元，以及Allkem合併後虧損1400萬元的影響。
2024年9月30日結束的九個月，與2023年9月30日結束的九個月相比
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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