Livent (LTHM) 10-Q 4 Nov 21 2021 Q3 Quarterly report Financial data

Cover page

Cover page	9 Months Ended
	Sep. 30, 2021shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-38694
Entity Registrant Name	LIVENT CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-4699376
Entity Address, Address Line One	1818 Market Street
Entity Address, City or Town	Philadelphia
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19103
City Area Code	215
Local Phone Number	299-5900
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	LTHM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	161,575,016
Entity Central Index Key	0001742924
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenue	$ 103.6	$ 72.6	$ 297.5	$ 206
Cost of sales	85.3	69.8	245.5	178.4
Gross margin	18.3	2.8	52	27.6
Selling, general and administrative expenses	11.8	10	34.2	31.1
Research and development expenses	0.8	1	2.2	2.8
Restructuring and other charges	1.1	4.4	3.4	10.1
Separation-related costs	0.8	0.6	1.3	0.8
Total costs and expenses	99.8	85.8	286.6	223.2
Income/(loss) from operations before loss on debt extinguishment, equity in net loss of unconsolidated affiliates and interest expense, net	3.8	(13.2)	10.9	(17.2)
Loss on debt extinguishment	0	0	0	0.1
Equity in net loss of unconsolidated affiliates	1	0.1	3.7	0.4
Interest expense, net		0.3		0.3
Income/(loss) from operations before income taxes		(13.6)		(18)
Income tax expense/(benefit)	15.4	(3.1)	13.8	(5.4)
Net loss	$ (12.6)	$ (10.5)	$ (6.9)	$ (12.6)
Net loss weighted average share - diluted (in dollars per share)	$ (0.08)	$ (0.07)	$ (0.05)	$ (0.09)
Weighted average common shares outstanding - basic (in shares)	161.6	146.3	152.3	146.2
Weighted average common shares outstanding - diluted (in shares)	161.6	146.3	152.3	146.2

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (12.6)	$ (10.5)	$ (6.9)	$ (12.6)
Foreign currency adjustments:
Foreign currency translation (loss)/gain arising during the period	(1.1)	3	(0.2)	1.4
Total foreign currency translation adjustments	(1.1)	3	(0.2)	1.4
Derivative instruments:
Unrealized hedging losses, net of tax of less than $0.1	(0.1)	0	0	(0.2)
Total derivative instruments loss, net of tax of less than $0.1	(0.1)	0	0	(0.2)
Other comprehensive (loss)/income, net of tax	(1.2)	3	(0.2)	1.2
Comprehensive loss	$ (13.8)	$ (7.5)	$ (7.1)	$ (11.4)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Reclassification of deferred hedging gains included in net income, tax		$ 0.1
Total derivative instruments loss, tax	$ 0.1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 195.3	$ 11.6
Trade receivables, net of allowance of $0.3 and $0.4, respectively	83	76.3
Inventories, net	110.2	105.6
Prepaid and other current assets	43.8	56.3
Total current assets	432.3	249.8
Investments	23.2	23.8
Property, plant and equipment, net of accumulated depreciation of $238.3 and $222.4, respectively	605.3	545.3
Deferred income taxes	2.2	13.4
Right of use assets - operating leases, net	6.4	16.1
Other assets	81.6	88.4
Total assets	1,151	936.8
Current liabilities
Accounts payable, trade and other	49.7	43.9
Accrued customer rebates	0	0.3
Accrued and other current liabilities	35.7	36.7
Operating lease liabilities - current	1	1.4
Income taxes	2.3	0
Total current liabilities	88.7	82.3
Long-term debt		274.6
Operating lease liabilities - long-term	5.5	14.8
Environmental liabilities	6.2	6.1
Deferred income taxes		5.6
Other long-term liabilities	18.2	17.2
Commitments and contingent liabilities (Note 13)
Total current and long-term liabilities	366.5	400.6
Equity
Common stock; $0.001 par value; 2 billion shares authorized in 2018; 161,676,147 and 146,461,249 shares issued; 161,575,016 and 146,361,981 outstanding at September 30, 2021 and December 31, 2020, respectively		0.1
Capital in excess of par value of common stock		520.9
Retained earnings		60.3
Accumulated other comprehensive loss		(44.4)
Treasury stock, common; 101,131 and 99,268 shares at September 30, 2021 and December 31, 2020, respectively		(0.7)
Total equity	784.5	536.2
Total liabilities and equity	$ 1,151	$ 936.8

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current assets
Allowance for trade receivables	$ 0.3	$ 0.4
Accumulated depreciation	$ 238.3	$ 222.4
Equity
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	161,676,147	146,461,249
Common stock, outstanding (in shares)	161,575,016	146,361,981
Treasury stock, at cost (in shares)	101,131	99,268

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020
Cash provided by operating activities:
Net loss		$ (6.9)	$ (12.6)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization		18.7	17.7
Restructuring and other charges		(0.8)	4.3
Deferred income taxes			(5.7)
Separation-related costs		0	0.1
Share-based compensation		4	3.4
Change in investments in trust fund securities		0.4	0.1
Loss on debt extinguishment		0	0.1
Deferred financing fees amortization			0.3
Equity in net loss of unconsolidated affiliates		3.7	0.4
Changes in operating assets and liabilities:
Trade receivables, net		(6.2)	17.5
Inventories		(4.2)	(0.1)
Accounts payable, trade and other		5.5	(40.9)
Change in deferred compensation		1.2	0.4
Income taxes		2.3	(0.9)
Change in prepaid and other current assets and other assets		16.6	(5.5)
Change in accrued and other current liabilities and other long-term liabilities		(4.8)	22.9
Cash provided by operating activities		41	1.5
Cash used in investing activities:
Capital expenditures	[1]	(69.4)	(110)
Investments in trust fund securities		(1.2)	(0.4)
Investment in unconsolidated affiliate		(2.5)	0
Other investing activities		(1.2)	(1.4)
Cash used in investing activities		(74.3)	(111.8)
Cash provided by financing activities:
Proceeds from Revolving Credit Facility		39.5	147
Repayments of Revolving Credit Facility		(75.1)	(276.5)
Proceeds from 2025 Notes		0	245.7
Payments of financing fees		0	(8.4)
Proceeds from Offering		261.6	0
Payments of underwriting fees and expenses - Offering		(9.4)	0
Proceeds of issuance of common stock - incentive plans		0.3	0.4
Cash provided by financing activities		216.9	108.2
Effect of exchange rate changes on cash and cash equivalents		0.1	0.1
Increase/(decrease) in cash and cash equivalents		183.7	(2)
Cash and cash equivalents, beginning of period		11.6	16.8
Cash and cash equivalents, end of period		195.3	14.8
Supplemental Disclosure for Cash Flow:
Cash refunds for income taxes, net	[2]	0.5	2.8
Cash payments for interest, net	[1]	12.9	4.8
Cash payments for Restructuring and other charges		4.2	5.8
Cash payments for Separation-related charges		1.4	0.7
Accrued capital expenditures		17.8	7.8
Operating lease right-of-use assets and lease liabilities recorded for ASC 842		$ 2.1	$ 0.8
[1]	For the nine months ended September 30, 2021 , and 2020 $11.5 million and $8.1 million of interest expense was capitalized, respectively.
[2]	ended September 30, 2021 includes $1.7 million of refunds relating to U.S. state taxes and foreign taxes. Nine months ended September 30, 2020 includes $1.9 million refund from FMC related to the Company's 2018 federal income tax return.

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Cash Flows [Abstract]
Interest expense capitalized	$ 11.5	$ 8.1
State and Foreign Tax Autority
Federal tax refund	$ 1.7
Domestic Tax Authority
Federal tax refund		$ 1.9

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	Common Stock, $0.001 Per Share Par Value	Capital In Excess of Par	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning balance at Dec. 31, 2019	$ 544	$ 0.1	$ 516.4	$ 76.6	$ (48.3)	$ (0.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1.9)			(1.9)
Stock compensation plans	1.2		1.2
Shares withheld for taxes - common stock issuances	(0.7)		(0.7)
Foreign currency translation adjustments	(1.8)				(1.8)
Ending balance at Mar. 31, 2020	540.8	0.1	516.9	74.7	(50.1)	(0.8)
Beginning balance at Dec. 31, 2019	544	0.1	516.4	76.6	(48.3)	(0.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(12.6)
Net hedging losses, net of income tax	(0.2)
Foreign currency translation adjustments	1.4
Ending balance at Sep. 30, 2020	535.7	0.1	519.5	64	(47.1)	(0.8)
Beginning balance at Mar. 31, 2020	540.8	0.1	516.9	74.7	(50.1)	(0.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(0.2)			(0.2)
Stock compensation plans	1		1
Net hedging losses, net of income tax	(0.2)				(0.2)
Exercise of stock options	0.1		0.1
Foreign currency translation adjustments	0.2				0.2
Ending balance at Jun. 30, 2020	541.7	0.1	518	74.5	(50.1)	(0.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(10.5)			(10.5)
Stock compensation plans	1.2		1.2
Net hedging losses, net of income tax	0
Exercise of stock options	0.3		0.3
Foreign currency translation adjustments	3				3
Ending balance at Sep. 30, 2020	535.7	0.1	519.5	64	(47.1)	(0.8)
Beginning balance at Dec. 31, 2020	536.2	0.1	520.9	60.3	(44.4)	(0.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(0.8)			(0.8)
Stock compensation plans	1.2		1.2
Exercise of stock options	0.2		0.2
Shares withheld for taxes - common stock issuances	(0.8)		(0.8)
Net purchases of treasury stock - nonqualified plan	(0.1)					(0.1)
Foreign currency translation adjustments	(0.3)				(0.3)
Ending balance at Mar. 31, 2021	535.6	0.1	521.5	59.5	(44.7)	(0.8)
Beginning balance at Dec. 31, 2020	536.2	0.1	520.9	60.3	(44.4)	(0.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(6.9)
Net hedging losses, net of income tax	0
Foreign currency translation adjustments	(0.2)
Ending balance at Sep. 30, 2021	784.5	0.1	776.4	53.4	(44.6)	(0.8)
Beginning balance at Mar. 31, 2021	535.6	0.1	521.5	59.5	(44.7)	(0.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	6.5			6.5
Stock compensation plans	1.4		1.4
Net hedging losses, net of income tax	0.1				0.1
Issuance of common stock - Offering	252.3		252.3
Foreign currency translation adjustments	1.2				1.2
Ending balance at Jun. 30, 2021	797.1	0.1	775.2	66	(43.4)	(0.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(12.6)
Stock compensation plans	1.4		1.4
Net hedging losses, net of income tax	(0.1)
Exercise of stock options	0.1		0.1
Shares withheld for taxes - common stock issuances	(0.2)		(0.2)
Issuance of common stock - Offering	(0.1)		(0.1)
Foreign currency translation adjustments	(1.1)				(1.1)
Ending balance at Sep. 30, 2021	$ 784.5	$ 0.1	$ 776.4	$ 53.4	$ (44.6)	$ (0.8)

CONDENSED CONSOLIDATED STATEM_7

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	Sep. 30, 2021	Jun. 30, 2021	Jun. 15, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001

Description of the Business

Description of the Business	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business	Description of the Business Background and Nature of Operations Livent Corporation (“Livent”, “we”, “us”, "company" or “our”) manufactures lithium for use in a wide range of lithium products, which are used primarily in lithium-based batteries, specialty polymers and chemical synthesis applications. We serve a diverse group of markets. Our product offerings generally have few cost-effective substitutes. A major growth driver for lithium in the future will be the rate of adoption of electric vehicles.

Principal Accounting Policies a

Principal Accounting Policies and Related Financial Information	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principle Accounting Policies and Related Financial Information	Principal Accounting Policies and Related Financial Information The accompanying condensed consolidated financial statements were prepared in accordance with the requirements of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by U.S. GAAP have been condensed or omitted from these interim financial statements. The financial statements included in this report reflect all normal and recurring adjustments which, in the opinion of management, are necessary for a fair presentation of our condensed consolidated financial position as of September 30, 2021 and December 31, 2020, the condensed consolidated results of operations for the three and nine months ended September 30, 2021 and 2020, and the condensed consolidated cash flows for the nine months ended September 30, 2021 and 2020. The unaudited results of operations for the interim periods reported are not necessarily indicative of results to be expected for the full year. These statements, therefore, should be read in conjunction with the annual consolidated and combined financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (the "2020 Annual Report on Form 10-K"). Estimates and assumptions In preparing the financial statements in conformity with U.S. GAAP, we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Due to the current coronavirus ("COVID-19") pandemic, there has been uncertainty and disruption in the global economy and financial markets. The estimates used for, but not limited to, the collectability of trade receivables, fair value of long-lived assets, income taxes, inventory valuation and fair value of financial instruments could be impacted. We have assessed the impact and are not aware of any specific events or circumstances that required an update to our estimates and assumptions or materially affected the carrying value of our assets or liabilities as of the date of issuance of this Quarterly Report on Form 10-Q. These estimates may change as new events occur and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions. 4.125% Convertible Senior Notes due 2025 (the “2025 Notes”) We account for our 2025 Notes under Accounting Standards Update ("ASU") No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity ("ASU 2020-06"), which we early adopted January 1, 2021 under the full retrospective method . See Note 3 and Note 9 for details.

Recently Issued and Adopted Acc

Recently Issued and Adopted Accounting Pronouncements and Regulatory Items	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Recently Issued and Adopted Accounting Pronouncements and Regulatory Items	Recently Issued and Adopted Accounting Pronouncements and Regulatory Items New accounting guidance and regulatory items In April 2020, the Financial Accounting Standard Board ("FASB") issued ASU No. 2020-04, Reference Rate Reform (Topic 848). T he amendments in this ASU provide optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. An entity may optionally elect to apply the amendments effective in the first interim period that includes or is subsequent to March 12, 2020 through December 31, 2022. We are evaluating the effect the guidance will have on our condensed consolidated financial statements. Recently adopted accounting guidance In August 2020, FASB issued ASU 2020-06. The ASU reduces the number of accounting models for convertible debt instruments by eliminating the cash conversion model. As compared with current U.S. GAAP, more convertible debt instruments will be reported as a single liability instrument and the interest rate of more convertible debt instruments will be closer to the coupon interest rate. The ASU also aligns the consistency of diluted Earnings Per Share ("EPS") calculations for convertible instruments by requiring that (1) an entity use the if-converted method and (2) share settlement be included in the diluted EPS calculation for both convertible instruments and equity contracts when those contracts include an option of cash settlement or share settlement. The ASU is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The FASB has specified that an entity should adopt the guidance as of the beginning of its annual fiscal year. We elected to early adopt ASU 2020-06 on January 1, 2021, using the full retrospective method. Prior to adoption, under Accounting Standards Codification 470-20, Debt with Conversion and Other Options ("ASC 470-20"), we had separately accounted for the liability and equity components of our 2025 Notes, which may be settled entirely or partially in cash upon conversion, in a manner that reflected the issuer’s economic interest cost. The effect of ASC 470-20 on the accounting for the 2025 Notes was that the equity component was required to be included in the additional paid-in capital section of stockholders’ equity on our consolidated balance sheet, and the value of the equity component was treated as original issue discount for purposes of accounting for the debt component of the 2025 Notes. As a result, prior to the adoption of ASU 2020-06, we were required to record a greater amount of non-cash interest expense as a result of the amortization of the discounted carrying value of the 2025 Notes to their face amount over the term of the 2025 Notes. Because we intend to settle in cash the principal outstanding under our 2025 Notes, we previously used the treasury stock method when calculating their potential dilutive effect, if any. ASU 2020-06 now requires us to use the if-converted method for EPS. For the full retrospective method of adoption, the accounting change was recognized as an adjustment to the balance of retained earnings, additional paid-in capital, long-term debt and deferred income taxes in our consolidated balance sheet as of December 31, 2020, the year in which the 2025 Notes were issued. See Note 9 and Note 11 for further details. In December 2019, FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (Topic 740). The amendments in this ASU simplified the accounting for income taxes by removing certain exceptions to the general principle in Topic 740. The amendments also contain improvements and clarifications of certain guidance in Topic 740. The new amendments are effective for fiscal years beginning after December 15, 2020 (i.e. a January 1, 2021 effective date), with early adoption permitted. We adopted the amendments as of January 1, 2021 and the adoption did not have a material impact on our condensed consolidated financial statements.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of revenue We disaggregate revenue from contracts with customers by geographical areas and by product categories. The following table provides information about disaggregated revenue by major geographical region: (in Millions) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 North America (1) $ 20.0 $ 11.0 $ 63.4 $ 40.5 Latin America — — — 0.1 Europe, Middle East & Africa 14.2 9.8 46.0 32.3 Asia Pacific (1) 69.4 51.8 188.1 133.1 Total Revenue $ 103.6 $ 72.6 $ 297.5 $ 206.0 1. During the three months ended September 30, 2021, countries with sales in excess of 10% of combined revenue consisted of Japan, the United States, and China. Sales for the three months ended September 30, 2021 for Japan, the United States, and China totaled $24.5 million, $19.7 million, $36.6 million, respectively. During the nine months ended September 30, 2021, countries with sales in excess of 10% of combined revenue consisted of Japan, the United States, and China. Sales for the nine months ended September 30, 2021 for Japan, the United States, and China totaled $65.1 million, $62.7 million, $89.9 million, respectively. During the three months ended September 30, 2020, countries with sales in exce ss of 10% of combined revenue consisted of Japan, the United States and China. Sales for the three months ended September 30, 2020 for Japan, the United States and China totaled $23.5 million, $11.0 million, and $19.0 million, respectively. During the nine months ended September 30, 2020, countries with sales in excess of 10% of combined revenue consisted of Japan, the United States and China. Sales for the nine months ended September 30, 2020 for Japan, the United States and China totaled $81.1 million, $40.0 million, and $29.1 million, respectively. For the three months ended September 30, 2021, one customer accounted for approximately 35% of total revenue and our 10 largest customers accounted in aggregate for approximately 69% of total revenue. For the three months ended September 30, 2020, two customers accounted for approximately 34% and 10% of total revenue, respectively, and our 10 largest customers accounted in aggregate for approximately 68% of total revenue. For the nine months ended September 30, 2021, one customer accounted for approximately 36% of total revenue and our 10 largest customers accounted in aggregate for approximately 68% of total revenue. For the nine months ended September 30, 2020, one customer accounted for approximately 35% of total revenue and our 10 largest customers accounted in aggregate for approximately 64% of total revenue. A loss of any material customer could have a material adverse effect on our business, financial condition and results of operations. The following table provides information about disaggregated revenue by major product category: (in Millions) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Lithium Hydroxide $ 50.7 $ 43.9 $ 160.5 $ 115.4 Butyllithium 27.4 19.6 76.1 62.4 High Purity Lithium Metal and Other Specialty Compounds 9.8 7.1 27.6 23.0 Lithium Carbonate and Lithium Chloride 15.7 2.0 33.3 5.2 Total Revenue $ 103.6 $ 72.6 $ 297.5 $ 206.0 Contract asset and contract liability balances The following table presents the opening and closing balances of our receivables, net of allowances. As of September 30, 2021 and December 31, 2020, there were no contract liabilities from contracts with customers. (in Millions) Balance as of Balance as of December 31, 2020 Increase (Decrease) Receivables from contracts with customers, net of allowances $ 83.0 $ 76.3 $ 6.7 The balance of receivables from contracts with customers listed in the table above represents the current trade receivables, net of allowance for doubtful accounts. The allowance for receivables represents our best estimate of the probable losses associated with potential customer defaults. We determine the allowance based on historical experience, current collection trends, and external business factors such as economic factors, including regional bankruptcy rates, and political factors. Performance obligations Occasionally, we may enter into multi-year take or pay supply agreements with customers. The aggregate amount of revenue expected to be recognized related to these contracts’ performance obligations that are unsatisfied or partially unsatisfied is approximate ly $10 million for the remainder of 2021 and $68 million in 2022 and 2023, respectively. T

Inventories, Net

Inventories, Net	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories consisted of the following: (in Millions) September 30, 2021 December 31, 2020 Finished goods $ 35.0 $ 36.1 Semi-finished goods 41.3 46.2 Raw materials, supplies and other 33.9 23.3 Inventory, net $ 110.2 $ 105.6

Investments

Investments	9 Months Ended
	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments    In 2020, Livent entered into an agreement with The Pallinghurst Group relating to Québec Lithium Partners ("QLP"), a joint venture owned equally by The Pallinghurst Group and Livent, and the conduct of certain business operations and oversight, previously conducted solely by Nemaska Lithium Inc. for the development of a fully integrated lithium chemical asset located in Québec, Canada that is not yet in commercial production. QLP owns a 50% equity interest in the Nemaska Project. The Company accounts for the investment in QLP as an equity method investment on a one-quarter lag basis and is included in Investments in our condensed consolidated balance sheets. For the three and nine months ended September 30, 2021, we recorded a $1.0 million and $3.7 million loss, respectively, related to our 50% equity interest in QLP to Equity in net loss of unconsolidated affiliates in our condensed consolidated statement of operations. The carrying amount of our 50% equity interest in QLP was $20.1 million and $21.2 million as of September 30, 2021 and December 31, 2020, respectively.

Restructuring and Other Charges

Restructuring and Other Charges	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges	Restructuring and Other Charges The following table shows other charges included in "Restructuring and other charges" in the condensed consolidated statements of operations: Three Months Ended September 30, Nine Months Ended September 30, (in Millions) 2021 2020 2021 2020 Restructuring charges Severance-related and exit costs (1) $ 0.1 $ 0.9 $ 0.2 $ 5.8 Other charges Environmental remediation (2) 0.1 0.1 0.3 0.4 Other (3) 0.9 3.4 2.9 3.9 Total Restructuring and other charges $ 1.1 $ 4.4 $ 3.4 $ 10.1 ___________________ 1. Three and nine months ended September 30, 2020 includes severance costs for management changes at certain operating and administrative facilities and exit costs of $1.6 million for the closing of leased office space. 2. There is one environmental remediation site in Bessemer City, North Carolina. 3. Three and nine months ended September 30, 2021 consists primarily of transaction-related legal fees and miscellaneous nonrecurring transactions.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We determine our interim tax provision using an estimated annual effective tax rate methodology (“EAETR”) in accordance with U.S. GAAP. The EAETR is applied to the year-to-date ordinary income, exclusive of discrete items. The tax effects of discrete items are then included to arrive at the total reported interim tax provision. The determination of the EAETR is based upon a number of estimates, including the estimated annual pretax ordinary income in each tax jurisdiction in which we operate. As our projections of ordinary income change throughout the year, the EAETR will change period-to-period. The tax effects of discrete items are recognized in the tax provision in the period they occur in accordance with U.S. GAAP. Depending on various factors, such as the item’s significance in relation to total income and the rate of tax applicable in the jurisdiction to which it relates, discrete items in any quarter can materially impact the reported effective tax rate. As a global enterprise, our tax expense can be impacted by changes in tax rates or laws, the finalization of tax audits and reviews, as well as other factors. As a result, there can be significant volatility in interim tax provisions.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Long-term debt Long-term debt consists of the following: Interest Rate Percentage Maturity September 30, 2021 December 31, 2020 (in Millions) LIBOR borrowings Base rate borrowings Revolving Credit Facility (1) 2.3% 4.5% 2023 $ — $ 35.6 4.125% Convertible Senior Notes due 2025 4.125% 2025 245.8 245.8 Transaction costs - 2025 Notes (5.7) (6.8) Total long-term debt (2) $ 240.1 $ 274.6 ______________________________ 1. As of September 30, 2021 and December 31, 2020, there were $14.4 million in letters of credit outstanding under our Revolving Credit Facility and $385.6 million and $275.0 million available funds as of September 30, 2021 and December 31, 2020, respectively. Fund availability is subject to the Company meeting its debt covenants. 2. As of September 30, 2021 and December 31, 2020, the Company had no debt maturing within one year. On January 1, 2021, the Company elected to early adopt ASU 2020-06 under the full retrospective method, that is, the accounting change was recognized as an adjustment to the balance of retained earnings, additional paid-in capital, long-term debt and deferred income taxes in our consolidated balance sheet as of December 31, 2020, the year in which the 2025 Notes were issued. The ASU reduces the number of accounting models for convertible debt instruments by eliminating the cash conversion model. Our 2025 Notes are now reported as a single liability instrument net of transaction costs with an interest rate closer to the coupon interest rate. The comparative financial statements of prior years have been adjusted to apply the adopted guidance retrospectively. Statement of operations (in Millions, except per share amounts) Three months ended September 30, 2021 As computed under ASC 470-20 As reported under ASU 2020-06 Effect of change Interest expense/(income) $ 1.8 $ — $ (1.8) Income from operations before income taxes 1.0 2.8 1.8 Income tax expense 15.0 15.4 0.4 Net (loss)/income $ (14.0) $ (12.6) $ 1.4 Net (loss)/income per weighted average share - basic and diluted $ (0.09) $ (0.08) $ 0.01 Nine months ended September 30, 2021 As computed under ASC 470-20 As reported under ASU 2020-06 Effect of change Interest expense/(income) $ 5.5 $ 0.3 $ (5.2) Income from operations before income taxes 1.7 6.9 5.2 Income tax expense 12.7 13.8 1.1 Net (loss)/income $ (11.0) $ (6.9) $ 4.1 Net (loss)/income per weighted average share - basic and diluted $ (0.07) $ (0.05) $ 0.02 Three months ended September 30, 2020 As originally reported As adjusted Effect of change Interest expense/(income) $ 2.0 $ 0.3 $ (1.7) (Loss)/income from operations before income taxes (15.3) (13.6) 1.7 Income tax (benefit)/expense (3.5) (3.1) 0.4 Net (loss)/income $ (11.8) $ (10.5) $ 1.3 Net (loss)/income per weighted average share - basic and diluted $ (0.08) $ (0.07) $ 0.01 Nine months ended September 30, 2020 As originally reported As adjusted Effect of change Interest expense/(income) $ 2.0 $ 0.3 $ (1.7) (Loss)/Income from operations before income taxes (19.7) (18.0) 1.7 Income tax (benefit)/expense (5.8) (5.4) 0.4 Net (loss)/income $ (13.9) $ (12.6) $ 1.3 Net (loss)/income per weighted average share - basic and diluted $ (0.10) $ (0.09) $ 0.01 Balance Sheet (in Millions, except per share amounts) September 30, 2021 As computed under ASC 470-20 As reported under ASU 2020-06 Effect of change Deferred income taxes $ 15.0 7.8 $ (7.2) Long-term debt 207.4 240.1 32.7 Total liabilities $ 222.4 $ 247.9 $ 25.5 Common stock, $0.001 per share par value 0.1 0.1 — Capital in excess of par value of common stock 808.6 776.4 (32.2) Retained earnings 46.7 53.4 6.7 Accumulated other comprehensive loss (44.6) (44.6) — Treasury stock (0.8) (0.8) — Total equity 810.0 784.5 (25.5) Total liabilities and equity $ 1,032.4 $ 1,032.4 $ — December 31, 2020 As originally reported As adjusted Effect of change Deferred income taxes $ 13.9 $ 5.6 $ (8.3) Long-term debt 236.7 274.6 37.9 Total liabilities $ 250.6 $ 280.2 $ 29.6 Common stock 0.1 0.1 — Capital in excess of par value of common stock 553.1 520.9 (32.2) Retained earnings 57.7 60.3 2.6 Accumulated other comprehensive loss (44.4) (44.4) — Treasury stock, common, at cost (0.7) (0.7) — Total equity 565.8 536.2 (29.6) Total liabilities and equity $ 816.4 $ 816.4 $ — Statement of cash flows (in Millions) Nine months ended September 30, 2021 As computed under ASC 470-20 As reported under ASU 2020-06 Effect of change Net (loss)/income $ (11.0) $ (6.9) $ 4.1 Adjustments to reconcile net (loss)/income to cash provided by operating activities: Deferred income taxes 10.1 11.2 1.1 Deferred financing fee amortization 5.5 0.3 (5.2) Net cash provided by operating activities 4.6 4.6 — Net increase in cash and cash equivalents 183.7 183.7 — Cash and cash equivalents, beginning of period 11.6 11.6 — Cash and cash equivalents, end of period $ 195.3 $ 195.3 $ — Nine months ended September 30, 2020 As originally reported As adjusted Effect of change Net (loss)/income $ (13.9) $ (12.6) $ 1.3 Adjustments to reconcile net (loss)/income to cash required by operating activities: Deferred income taxes (6.1) (5.7) 0.4 Deferred financing fee amortization 2.0 0.3 (1.7) Net cash required by operating activities (18.0) (18.0) — Net decrease in cash and cash equivalents (2.0) (2.0) — Cash and cash equivalents, beginning of period 16.8 16.8 — Cash and cash equivalents, end of period $ 14.8 $ 14.8 $ — 2025 Notes In the fourth quarter of 2021, the holders of the 2025 Notes were notified that the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, September 30, 2021 was greater than or equal to 130% of the conversion price on each trading day, and as a result, the holders have the option to convert all or any portion of their 2025 Notes through December 31, 2021. The 2025 Notes are classified as long-term debt. The Company recognized noncash interest related to the amortization of transaction costs of $0.4 million and $1.1 million for the three and nine months ended September 30, 2021, respectively; $0.4 million and $0.8 million of which was capitalized for the three and nine months ended September 30, 2021, respectively. The Company recorded $2.5 million and $7.6 million of accrued interest expense related to the principal amount for the three and nine months ended September 30, 2021, respectively. Revolving Credit Facility The carrying value of our deferred financing costs was $1.7 million as of September 30, 2021. In June 2021, we used a portion of the net proceeds from the Offering to repay all amounts outstanding under our Revolving Credit Facility. Covenants The Credit Agreement contains certain affirmative and negative covenants that are binding on us and our subsidiary, FMC Lithium 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 burdensome 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, 2021. Our minimum allowable interest coverage ratio is 3.5. We were in compliance with all requirements of the covenants at September 30, 2021.

Equity

Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Equity	Equity As of September 30, 2021 and December 31, 2020, we had 2 billion shares of common stock authorized. The following is a summary of Livent's common stock issued and outstanding: Issued Treasury Outstanding Balance at December 31, 2020 146,461,249 (99,268) 146,361,981 Adjusted FMC RSU awards (1) 120,986 — 120,986 Livent RSU awards 102,505 — 102,505 Livent stock option awards 41,407 — 41,407 Net purchases of treasury stock - deferred compensation plan — (1,863) (1,863) Issuance of common stock 14,950,000 — 14,950,000 Balance at September 30, 2021 161,676,147 (101,131) 161,575,016 1. See Note 12 to our consolidated and combined financial statements in Part II, Item 8 of our 2020 Annual Report on Form 10-K for more information on Adjusted FMC RSU awards held by FMC employees. In June 15, 2021, the Company closed on the issuance of 14,950,000 shares of its common stock, par value $0.001 per share, at a public offering price of $17.50 per share, in an underwritten public offering (the "Offering"), including 1,950,000 shares purchased under a 30-day underwriters' option exercised in full by the underwriters on June 11, 2021. Total net proceeds from the Offering, including from the exercise of the underwriters’ option, were $252.2 million, after deducting the underwriters’ fees and offering expenses payable by the Company of $9.4 million. The total net proceeds were recorded to paid-in capital in the condensed consolidated balance sheet. In the third quarter of 2021, we purchased $140.0 million in limited risk investments with maturities of 90 days or less with a portion of the Offering net proceeds. The investments were recorded to Cash and cash equivalents in our condensed consolidated balance sheet in the third quarter of 2021. Summarized below is the roll forward of accumulated other comprehensive loss, net of tax. (in Millions) Foreign currency adjustments Derivative Instruments (1) Total Accumulated other comprehensive loss, net of tax at December 31, 2020 $ (44.4) — $ (44.4) Other comprehensive losses before reclassifications (0.2) — (0.2) Accumulated other comprehensive loss, net of tax at September 30, 2021 $ (44.6) $ — $ (44.6) (in Millions) Foreign currency adjustments Derivative Instruments (1) Total Accumulated other comprehensive loss, net of tax at December 31, 2019 $ (48.3) $ — $ (48.3) Other comprehensive gains/(losses) before reclassifications 1.4 (0.2) 1.2 Accumulated other comprehensive loss, net of tax at September 30, 2020 $ (46.9) $ (0.2) $ (47.1) 1. See Note 12 for more information. Reclassifications of accumulated other comprehensive loss The table below provides details about the reclassifications from accumulated other com prehensive loss and the affected line items in the condensed consolidated statements of operations for the period presented. No amounts were reclassified from accumulated other comprehensive loss for the three and nine months ended September 30, 2021. Details about Accumulated Other Comprehensive Loss Components Amounts Reclassified from Accumulated Other Comprehensive Loss (1) Affected Line Item in the Condensed Consolidated Statements of Operations Three Months Ended September 30, Nine Months Ended September 30, (in Millions) 2021 2020 2021 2020 Derivative instruments Foreign currency contracts $ — $ (0.2) $ — $ (0.2) Costs of sales and services Total before tax — (0.2) — (0.2) Amount included in net income (1) $ — $ (0.2) $ — $ (0.2) (1) Provision for income taxes related to the reclassification was less than $0.1 million. Dividends

Loss Per Share

Loss Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Loss Per Share	Loss Per Share Loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period on a basic and diluted basis. Our potentially dilutive securities include potential common shares related to our stock options and restricted stock units ("RSU") granted in connection with the Livent Plan and FMC Plan. See Note 12 to our consolidated and combined financial statements in Part II, Item 8 of our 2020 Annual Report on Form 10-K for more information. Diluted loss 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 common shares would have an anti-dilutive effect. Diluted EPS excludes the impact of potential common shares related to our stock options in periods in which the option exercise price is greater than the average market price of our common stock for the period. We use the if-converted method when calculating the potential dilutive effect, if any, of our 2025 Notes. Loss applicable to common stock and common stock shares used in the calculation of basic and diluted loss per share are as follows: (in Millions, Except Share and Per Share Data) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Numerator: Net loss $ (12.6) $ (10.5) $ (6.9) $ (12.6) Denominator: Weighted average common shares outstanding - basic and diluted 161.6 146.3 152.3 146.2 Basic and diluted loss per common share: Net loss per weighted average share - basic and diluted $ (0.08) $ (0.07) $ (0.05) $ (0.09) The following table presents weighted average share equivalents associated with share-based plans and the 2025 Notes that were excluded from the diluted shares outstanding calculation because the result would have been antidilutive. The 2025 Notes are further discussed in Note 9. (in Millions) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Share equivalents from share-based plans 1.5 0.6 1.4 0.6 Share equivalents from 2025 Notes 45.3 28.1 44.0 10.1 Total antidilutive weighted average share equivalents 46.8 28.7 45.4 10.7 Anti-dilutive stock options For the three months ended September 30, 2021, none of the outstanding options to purchase shares of our common stock were anti-dilutive. For the nine months ended September 30, 2021, options to purchase 542,760 shares of our common stock at an average exercise price of $20.35 per share were anti-dilutive and not included in the computation of diluted loss per share because the exercise price of the options was greater than the average market price of the common stock for the nine months ended September 30, 2021. For the three and nine months ended September 30, 2020, options to purchase 1,835,476 and 1,904,010 shares of our common stock at an average exercise price of $12.59 and $12.58 per share, respectively, were anti-dilutive and not included in the computation of diluted loss per share because the exercise price of the options was greater than the average market price of the common stock for the three and nine months ended September 30, 2020.

Financial Instruments, Risk Man

Financial Instruments, Risk Management and Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Financial Instrument, Risk Management and Fair Value Measurements	Financial Instruments, Risk Management and Fair Value Measurements Our financial instruments include cash and cash equivalents, trade receivables, other current assets, investments held in trust fund, accounts payable, and amounts included in investments and accruals meeting the definition of financial instruments. Investments in the Livent 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 accounts payable approximates their fair value and are considered Level 1 investments. Our other financial instruments include the following: Financial Instrument Valuation Method Foreign exchange forward contracts Estimated 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 have 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 interest rate yield curves and currency and commodity spot and forward rates. In addition, we test a subset of our valuations against valuations received from the transaction's counterparty to validate the accuracy of our standard pricing models. Accordingly, the estimates presented may not be indicative of the amounts that we would realize in a market exchange at settlement date and do not represent potential gains or losses on these agreements. 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 was $292.0 million and $240.1 million, respectively, as of September 30, 2021. Our 2025 Notes are classified as Level 2 in the fair value hierarchy. The estimated fair value and carrying amount of debt was $267.6 million and $274.6 million as of December 31, 2020. Use of Derivative Financial Instruments to Manage Risk We mitigate certain financial exposures connected to currency risk through a program of risk management that includes the use of derivative financial instruments. We enter into foreign exchange forward contracts to reduce the effects of fluctuating foreign currency exchange rates. We formally document all relationships between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. This process includes relating derivatives that are designated as fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. We also assess both at the inception of the hedge and on an ongoing basis, whether each derivative is highly effective in offsetting changes in fair values or cash flows of the hedged item. If we determine that a derivative is not highly effective as a hedge, or if a derivative ceases to be a highly effective hedge, we discontinue hedge accounting with respect to that derivative prospectively. Foreign Currency Exchange Risk Management We conduct business in many foreign countries, exposing earnings, cash flows, and our financial position to foreign currency risks. The majority of these risks arise as a result of foreign currency transactions. The primary currencies for which we have exchange rate exposure are the Euro, the British pound, the Chinese yuan, the Argentine peso, and the Japanese yen. We currently do not hedge foreign currency risks associated with the Argentine peso due to the limited availability and the high cost of suitable derivative instruments. Our policy is to minimize exposure to adverse changes in currency exchange rates. This is accomplished through a controlled program of risk management that could include the use of foreign currency debt and forward foreign exchange contracts. We also use forward foreign exchange contracts to hedge firm and highly anticipated foreign currency cash flows, with an objective of balancing currency risk to provide adequate protection from significant fluctuations in the currency markets. Concentration of Credit Risk Our counterparties to derivative contracts are primarily major financial institutions. We limit the dollar amount of contracts entered into with any one financial institution and monitor counterparties’ credit ratings. We also enter into master netting agreements with each financial institution, where possible, which helps mitigate the credit risk associated with our financial instruments. While we may be exposed to credit losses due to the nonperformance of counterparties, we consider this risk remote. Accounting for Derivative Instruments and Hedging Activities Cash Flow Hedges We recognize all derivatives on the balance sheet at fair value. On the date we enter into the derivative instrument, we generally designate the derivative as a hedge of the variability of cash flows to be received or paid related to a forecasted transaction (cash flow hedge). We record in accumulated other comprehensive loss ("AOCL") changes in the fair value of derivatives that are designated as and meet all the required criteria for, a cash flow hedge. We then reclassify these amounts into earnings as the underlying hedged item affects earnings. In contrast we immediately record in earnings changes in the fair value of derivatives that are not designated as cash flow hedges. As of September 30, 2021, we had open foreign currency forward contracts in AOCL in a net after-tax gain position of less than $0.1 million designated as cash flow hedges of underlying forecasted sales and purchases. As of September 30, 2021 we had open forward contracts with various expiration dates to buy, sell or exchange foreign currencies with a U.S. dollar equivalent of approximately $5.6 million. Less than $0.1 million of net after-tax gain, representing open foreign currency exchange contracts, will be realized in earnings during the three months ending December 31, 2021 if spot rates in the future are consistent with market rates as of September 30, 2021. The actual effect on earnings will be dependent on the actual spot rates when the forecasted transactions occur. We recognize derivative gains and losses in the “Costs of sales and services” line in the condensed consolidated statements of operations. Derivatives Not Designated As Cash Flow Hedging Instruments We hold certain forward contracts that have not been designated as cash flow hedging instruments for accounting purposes. Contracts used to hedge the exposure to foreign currency fluctuations associated with certain monetary assets and liabilities are not designated as cash flow hedging instruments and changes in the fair value of these items are recorded in earnings. We had open forward contracts not designated as cash flow hedging instruments for accounting purposes with various expiration dates to buy, sell or exchange foreign currencies with a U.S. dollar equivalent of approximately $30.9 million at September 30, 2021. Fair Value of Derivative Instruments. As of September 30, 2021, we had open derivative cash flow hedge contracts in a net gain fair value position of less than $0.1 million. The Company had no open derivative cash flow hedge contracts as of December 31, 2020. Derivatives in Cash Flow Hedging Relationships The following tables summarize the losses related to our cash flow hedges and derivatives not designated as cash flow hedging instruments. For the three months ended March 31, 2021 and 2020, we did not have any open derivative cash flow hedge contracts. (in Millions) Total Foreign Exchange Contracts Accumulated other comprehensive loss, net of tax at March 31, 2021 $ — Unrealized hedging gains, net of tax 0.1 Total derivatives instruments impact on comprehensive income, net of tax 0.1 Accumulated other comprehensive gain, net of tax at June 30, 2021 $ 0.1 Unrealized hedging losses, net of tax (0.1) Total derivatives instruments impact on comprehensive income, net of tax (0.1) Accumulated other comprehensive gain, net of tax at September 30, 2021 $ — (in Millions) Total Foreign Exchange Contracts Accumulated other comprehensive loss, net of tax at March 31, 2020 $ — Unrealized hedging loses, net of tax (0.2) Total derivatives instruments impact on comprehensive income, net of tax (0.2) Accumulated other comprehensive loss, net of tax at June 30, 2020 $ (0.2) Unrealized hedging gains, net of tax 0.2 Reclassification of deferred hedging gains, net of tax (1) (0.2) Accumulated other comprehensive loss, net of tax at September 30, 2020 $ (0.2) 1. Amounts are included in "Cost of sales and services" on the condensed consolidated statements of operations Derivatives Not Designated as Cash Flow Hedging Instruments Location of Loss Amount of Pre-tax Loss Recognized in Income on Derivatives (1) Three Months Ended September 30, Nine Months Ended September 30, (in Millions) 2021 2020 2021 2020 Foreign Exchange contracts Cost of Sales and Services (2) $ (0.2) $ (0.8) $ (1.1) $ (1.9) Total $ (0.2) $ (0.8) $ (1.1) $ (1.9) ____________________ 1. Amounts represent the gain or loss on the derivative instrument offset by the gain or loss on the hedged item. 2. A loss of $0.1 million and $0.2 million related to intercompany loan hedges is included in Restructuring and other charges in the consolidated statement of operations for the three and nine months ended September 30, 2021, respectively. A loss of $0.1 million related to intercompany loan hedges is included in Restructuring and other charges in the consolidated statement of operations for the three and nine months ended September 30, 2020. Fair Value Measurements Fair value is 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. Market participants are defined as buyers or sellers in the principle or most advantageous market for the asset or liability that are independent of the reporting entity, knowledgeable and able and willing to transact for the asset or liability. Fair Value Hierarchy We have categorized our assets and liabilities that are recorded at fair value, based on the priority of the inputs to the valuation technique, into a three-level fair-value hierarchy. The fair-value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the assets and liabilities fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair-value measurement of the instrument. Recurring Fair Value Measurements The following tables present our fair-value hierarchy for those assets and liabilities measured at fair-value on a recurring basis in our condensed consolidated balance sheets. (in Millions) September 30, 2021 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets Investments in deferred compensation plan (1) $ 3.1 $ 3.1 $ — $ — Total Assets $ 3.1 $ 3.1 $ — $ — Liabilities Deferred compensation plan obligation (2) $ 5.5 $ 5.5 $ — $ — Total Liabilities $ 5.5 $ 5.5 $ — $ — (in Millions) December 31, 2020 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets Investments in deferred compensation plan (1) $ 2.6 $ 2.6 $ — $ — Total Assets $ 2.6 $ 2.6 $ — $ — Liabilities Deferred compensation plan obligation (2) $ 4.5 $ 4.5 $ — $ — Total Liabilities $ 4.5 $ 4.5 $ — $ — ____________________ 1. Balance is included in “Investments” in the condensed consolidated balance sheets. Livent NQSP investments in Livent common stock are recorded as "Treasury stock" in the condensed consolidated balance sheets and carried at historical cost. A mark-to-market loss of $0.4 million was recorded for the three and nine months ended September 30, 2021, related to the Livent common stock. The mark-to-market gains were recorded in "Selling, general and administrative expense" in the condensed consolidated statement of operations, with a corresponding offset to the deferred compensation plan obligation in the condensed consolidated balance sheets. 2. Balance is included in “Other long-term liabilities” in the condensed consolidated balance sheets.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies We are a party to various legal proceedings, including those noted in this section. Livent records reserves for estimated losses from contingencies when information available indicates that a loss is probable and the amount of the loss, or range of loss, can be reasonably estimated. As additional information becomes available, management adjusts its assessments and estimates. Legal costs are expensed as incurred. In addition to the legal proceedings noted below, we have certain contingent liabilities arising in the ordinary course of business. Some of these contingencies are known but are so preliminary that the merits cannot be determined, or if more advanced, are not deemed material based on current knowledge; and some are unknown - for example, claims with respect to which we have no notice or claims which may arise in the future from products sold, guarantees or warranties made, or indemnities provided. Therefore, we are unable to develop a reasonable estimate of our potential exposure of loss for these contingencies, either individually or in the aggregate, at this time. There can be no assurance that the outcome of these contingencies will be favorable, and adverse results in certain of these contingencies could have a material adverse effect on the consolidated financial position, results of operations in any one reporting period, or liquidity. Argentine Customs Authority On July 31, 2020, we received notice from the Argentine Customs Authority that it was conducting an audit of Minera del Altiplano SA, our subsidiary in Argentina (“MdA”). The audit relates to the export of Lithium Carbonate from Argentina for the period January 10, 2015 through December 31, 2017. Although this relates to a period of time when MdA was a subsidiary of FMC, the Company agreed to bear any possible liability for this matter under the terms of the Tax Matters Agreement that it entered into with FMC in connection with the Separation. A range of reasonably possible liabilities, if any, cannot be currently currently estimated by the Company. Leases All of our leases are operating leases as of September 30, 2021 and December 31, 2020. We have operating leases for corporate offices, manufacturing facilities, and land. Our leases have remaining lease terms of 1 year to 14 years. Quantitative disclosures about our leases are summarized in the table below. Three Months Ended September 30, Nine Months Ended September 30, (in Millions, except for weighted-average amounts) 2021 2020 2021 2020 Lease Cost Operating lease cost $ 0.4 $ 0.6 $ 1.0 $ 1.6 Short-term lease cost 0.3 — 1.0 0.3 Variable lease cost (1) — — 0.1 0.1 Total lease cost (1) $ 0.7 $ 0.6 $ 2.1 $ 2.0 Other information Cash paid for amounts included in the measurement of lease liabilities: Cash paid for operating leases $ 0.5 $ 0.5 $ 1.6 $ 1.5 __________________________ 1. Short term lease cost for the three months ended September 30, 2020 was less than $0.1 million. Variable lease cost for the three months ended September 30, 2020 and 2021 was less than $0.1 million. Lease expense is classified as "Selling, general and administrative expenses" in our consolidated statements of operations. As of September 30, 2021 and December 31, 2020, our operating leases had a weighted average remaining lease term of 8.6 years and 11.7 years, respectively. As of September 30, 2021 and December 31, 2020, our operating leases had a weighted average discount rate of 4.9% and 4.4%, respectively. The table below presents a maturity analysis of our operating lease liabilities for each of the next five years and a total of the amounts for the remaining years. (in Millions) Undiscounted cash flows Remainder of 2021 $ 0.4 2022 1.3 2023 1.1 2024 1.1 2025 1.1 Thereafter 3.0 Total future minimum lease payments 8.0 Less: Imputed interest (1.5) Total $ 6.5

Supplemental Information

Supplemental Information	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Information	Supplemental Information The following tables present details of prepaid and other current assets, other assets, accrued and other current liabilities, and other long-term liabilities as presented on the condensed consolidated balance sheets: (in Millions) September 30, 2021 December 31, 2020 Prepaid and other current assets Argentina government receivable (1) $ 11.8 $ 10.8 Tax related items 15.4 15.7 Other receivables 3.0 8.6 Prepaid expenses 7.6 8.2 Bank Acceptance Drafts (2) — 0.2 Other current assets (3) 6.0 12.8 Total $ 43.8 $ 56.3 (in Millions) September 30, 2021 December 31, 2020 Other assets Argentina government receivable (1) $ 51.0 $ 55.8 Advance to contract manufacturers (4) 15.6 16.3 Capitalized software, net 1.5 1.8 Tax related items 2.5 2.7 Other assets 11.0 11.8 Total $ 81.6 $ 88.4 _________________ 1. We have various subsidiaries that conduct business in Argentina. As of September 30, 2021 and December 31, 2020, $38.3 million and $39.5 million, respectively, of outstanding receivables due from the Argentina government, which primarily represent export tax and export rebate receivables, was denominated in U.S. dollars. As with all outstanding receivable balances, we continually review recoverability by analyzing historical experience, current collection trends and regional business and political factors among other factors. 2. Bank Acceptance Drafts are a common Chinese finance note used to settle trade transactions. Livent accepts these notes from Chinese customers based on criteria intended to ensure collectability and limit working capital usage. 3. The December 31, 2020 balance includes a $5.4 million receivable for insurance reimbursement related to the IPO litigation settlement which was netted with the IPO litigation settlement accrual. The IPO litigation settlement was finalized in the second quarter of 2021. See Note 7 for details. 4. We record deferred charges for certain contract manufacturing agreements which we amortize over the term of the underlying contract. (in Millions) September 30, 2021 December 31, 2020 Accrued and other current liabilities Plant restructuring reserves $ 3.2 $ 3.2 Retirement liability - 401K 0.6 2.6 Accrued payroll 11.5 12.5 Severance related 0.2 2.5 Environmental reserves, current 0.5 0.6 Other accrued and other current liabilities (1) 19.7 15.3 Total $ 35.7 $ 36.7 (in Millions) September 30, 2021 December 31, 2020 Other long-term liabilities Accrued investment in unconsolidated affiliate $ 6.2 $ 6.2 Asset retirement obligations 0.3 0.3 Contingencies related to uncertain tax positions (2) 3.6 3.4 Deferred compensation plan obligation 5.5 4.5 Self-insurance reserves 1.5 1.5 Other long-term liabilities 1.1 1.3 Total $ 18.2 $ 17.2 ____________________ 1. Amounts p rimarily include accrued capital expenditures related to our expansion projects. December 31, 2020 includes a $7.4 million settlement accrual related to IPO litigation recorded in the third quarter of 2020. The IPO litigation settlement was finalized in the second quarter of 2021. 2. As of September 30, 2021, we have recorded a liability for uncertain tax positions o f $3.2 million and a $0.4 million indemnification liability to FMC for assets held by the Company where the offsetting liability for uncertain tax positions rests with FMC. The Company agreed to bear any possible liability for this matter under the terms of the Tax Matters Agreement that it entered into with FMC in connection with the Separation.

Recently Issued and Adopted A_2

Recently Issued and Adopted Accounting Pronouncements and Regulatory Items (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Accounting	The accompanying condensed consolidated financial statements were prepared in accordance with the requirements of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by U.S. GAAP have been condensed or omitted from these interim financial statements.
Convertible Senior Notes	We account for our 2025 Notes under Accounting Standards Update ("ASU") No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity ("ASU 2020-06"), which we early adopted January 1, 2021 under the full retrospective method .
New Accounting Guidance and Regulatory Items and Recently Adopted Accounting Guidance	In April 2020, the Financial Accounting Standard Board ("FASB") issued ASU No. 2020-04, Reference Rate Reform (Topic 848). T he amendments in this ASU provide optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. An entity may optionally elect to apply the amendments effective in the first interim period that includes or is subsequent to March 12, 2020 through December 31, 2022. We are evaluating the effect the guidance will have on our condensed consolidated financial statements. Recently adopted accounting guidance In August 2020, FASB issued ASU 2020-06. The ASU reduces the number of accounting models for convertible debt instruments by eliminating the cash conversion model. As compared with current U.S. GAAP, more convertible debt instruments will be reported as a single liability instrument and the interest rate of more convertible debt instruments will be closer to the coupon interest rate. The ASU also aligns the consistency of diluted Earnings Per Share ("EPS") calculations for convertible instruments by requiring that (1) an entity use the if-converted method and (2) share settlement be included in the diluted EPS calculation for both convertible instruments and equity contracts when those contracts include an option of cash settlement or share settlement. The ASU is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The FASB has specified that an entity should adopt the guidance as of the beginning of its annual fiscal year. We elected to early adopt ASU 2020-06 on January 1, 2021, using the full retrospective method. Prior to adoption, under Accounting Standards Codification 470-20, Debt with Conversion and Other Options ("ASC 470-20"), we had separately accounted for the liability and equity components of our 2025 Notes, which may be settled entirely or partially in cash upon conversion, in a manner that reflected the issuer’s economic interest cost. The effect of ASC 470-20 on the accounting for the 2025 Notes was that the equity component was required to be included in the additional paid-in capital section of stockholders’ equity on our consolidated balance sheet, and the value of the equity component was treated as original issue discount for purposes of accounting for the debt component of the 2025 Notes. As a result, prior to the adoption of ASU 2020-06, we were required to record a greater amount of non-cash interest expense as a result of the amortization of the discounted carrying value of the 2025 Notes to their face amount over the term of the 2025 Notes. Because we intend to settle in cash the principal outstanding under our 2025 Notes, we previously used the treasury stock method when calculating their potential dilutive effect, if any. ASU 2020-06 now requires us to use the if-converted method for EPS. For the full retrospective method of adoption, the accounting change was recognized as an adjustment to the balance of retained earnings, additional paid-in capital, long-term debt and deferred income taxes in our consolidated balance sheet as of December 31, 2020, the year in which the 2025 Notes were issued. See Note 9 and Note 11 for further details. In December 2019, FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (Topic 740). The amendments in this ASU simplified the accounting for income taxes by removing certain exceptions to the general principle in Topic 740. The amendments also contain improvements and clarifications of certain guidance in Topic 740. The new amendments are effective for fiscal years beginning after December 15, 2020 (i.e. a January 1, 2021 effective date), with early adoption permitted. We adopted the amendments as of January 1, 2021 and the adoption did not have a material impact on our condensed consolidated financial statements. On January 1, 2021, the Company elected to early adopt ASU 2020-06 under the full retrospective method, that is, the accounting change was recognized as an adjustment to the balance of retained earnings, additional paid-in capital, long-term debt and deferred income taxes in our consolidated balance sheet as of December 31, 2020, the year in which the 2025 Notes were issued. The ASU reduces the number of accounting models for convertible debt instruments by eliminating the cash conversion model. Our 2025 Notes are now reported as a single liability instrument net of transaction costs with an interest rate closer to the coupon interest rate.
Revenue Recognition	The balance of receivables from contracts with customers listed in the table above represents the current trade receivables, net of allowance for doubtful accounts. The allowance for receivables represents our best estimate of the probable losses associated with potential customer defaults. We determine the allowance based on historical experience, current collection trends, and external business factors such as economic factors, including regional bankruptcy rates, and political factors. Performance obligations Occasionally, we may enter into multi-year take or pay supply agreements with customers. The aggregate amount of revenue expected to be recognized related to these contracts’ performance obligations that are unsatisfied or partially unsatisfied is approximate ly $10 million for the remainder of 2021 and $68 million in 2022 and 2023, respectively. T

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table provides information about disaggregated revenue by major geographical region: (in Millions) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 North America (1) $ 20.0 $ 11.0 $ 63.4 $ 40.5 Latin America — — — 0.1 Europe, Middle East & Africa 14.2 9.8 46.0 32.3 Asia Pacific (1) 69.4 51.8 188.1 133.1 Total Revenue $ 103.6 $ 72.6 $ 297.5 $ 206.0 1. During the three months ended September 30, 2021, countries with sales in excess of 10% of combined revenue consisted of Japan, the United States, and China. Sales for the three months ended September 30, 2021 for Japan, the United States, and China totaled $24.5 million, $19.7 million, $36.6 million, respectively. During the nine months ended September 30, 2021, countries with sales in excess of 10% of combined revenue consisted of Japan, the United States, and China. Sales for the nine months ended September 30, 2021 for Japan, the United States, and China totaled $65.1 million, $62.7 million, $89.9 million, respectively. During the three months ended September 30, 2020, countries with sales in exce ss of 10% of combined revenue consisted of Japan, the United States and China. Sales for the three months ended September 30, 2020 for Japan, the United States and China totaled $23.5 million, $11.0 million, and $19.0 million, respectively. During the nine months ended September 30, 2020, countries with sales in excess of 10% of combined The following table provides information about disaggregated revenue by major product category: (in Millions) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Lithium Hydroxide $ 50.7 $ 43.9 $ 160.5 $ 115.4 Butyllithium 27.4 19.6 76.1 62.4 High Purity Lithium Metal and Other Specialty Compounds 9.8 7.1 27.6 23.0 Lithium Carbonate and Lithium Chloride 15.7 2.0 33.3 5.2 Total Revenue $ 103.6 $ 72.6 $ 297.5 $ 206.0
Receivables and Contract Liabilities	The following table presents the opening and closing balances of our receivables, net of allowances. As of September 30, 2021 and December 31, 2020, there were no contract liabilities from contracts with customers. (in Millions) Balance as of Balance as of December 31, 2020 Increase (Decrease) Receivables from contracts with customers, net of allowances $ 83.0 $ 76.3 $ 6.7

Inventories, Net (Tables)

Inventories, Net (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: (in Millions) September 30, 2021 December 31, 2020 Finished goods $ 35.0 $ 36.1 Semi-finished goods 41.3 46.2 Raw materials, supplies and other 33.9 23.3 Inventory, net $ 110.2 $ 105.6

Restructuring and Other Charg_2

Restructuring and Other Charges (Tables)	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges and Asset Disposals	The following table shows other charges included in "Restructuring and other charges" in the condensed consolidated statements of operations: Three Months Ended September 30, Nine Months Ended September 30, (in Millions) 2021 2020 2021 2020 Restructuring charges Severance-related and exit costs (1) $ 0.1 $ 0.9 $ 0.2 $ 5.8 Other charges Environmental remediation (2) 0.1 0.1 0.3 0.4 Other (3) 0.9 3.4 2.9 3.9 Total Restructuring and other charges $ 1.1 $ 4.4 $ 3.4 $ 10.1 ___________________ 1. Three and nine months ended September 30, 2020 includes severance costs for management changes at certain operating and administrative facilities and exit costs of $1.6 million for the closing of leased office space. 2. There is one environmental remediation site in Bessemer City, North Carolina. 3. Three and nine months ended September 30, 2021 consists primarily of transaction-related legal fees and miscellaneous nonrecurring transactions.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following: Interest Rate Percentage Maturity September 30, 2021 December 31, 2020 (in Millions) LIBOR borrowings Base rate borrowings Revolving Credit Facility (1) 2.3% 4.5% 2023 $ — $ 35.6 4.125% Convertible Senior Notes due 2025 4.125% 2025 245.8 245.8 Transaction costs - 2025 Notes (5.7) (6.8) Total long-term debt (2) $ 240.1 $ 274.6 ______________________________ 1. As of September 30, 2021 and December 31, 2020, there were $14.4 million in letters of credit outstanding under our Revolving Credit Facility and $385.6 million and $275.0 million available funds as of September 30, 2021 and December 31, 2020, respectively. Fund availability is subject to the Company meeting its debt covenants.
Comparative Financial Statements of Priors Years Adjusted to Apply Adopted Guidance	The comparative financial statements of prior years have been adjusted to apply the adopted guidance retrospectively. Statement of operations (in Millions, except per share amounts) Three months ended September 30, 2021 As computed under ASC 470-20 As reported under ASU 2020-06 Effect of change Interest expense/(income) $ 1.8 $ — $ (1.8) Income from operations before income taxes 1.0 2.8 1.8 Income tax expense 15.0 15.4 0.4 Net (loss)/income $ (14.0) $ (12.6) $ 1.4 Net (loss)/income per weighted average share - basic and diluted $ (0.09) $ (0.08) $ 0.01 Nine months ended September 30, 2021 As computed under ASC 470-20 As reported under ASU 2020-06 Effect of change Interest expense/(income) $ 5.5 $ 0.3 $ (5.2) Income from operations before income taxes 1.7 6.9 5.2 Income tax expense 12.7 13.8 1.1 Net (loss)/income $ (11.0) $ (6.9) $ 4.1 Net (loss)/income per weighted average share - basic and diluted $ (0.07) $ (0.05) $ 0.02 Three months ended September 30, 2020 As originally reported As adjusted Effect of change Interest expense/(income) $ 2.0 $ 0.3 $ (1.7) (Loss)/income from operations before income taxes (15.3) (13.6) 1.7 Income tax (benefit)/expense (3.5) (3.1) 0.4 Net (loss)/income $ (11.8) $ (10.5) $ 1.3 Net (loss)/income per weighted average share - basic and diluted $ (0.08) $ (0.07) $ 0.01 Nine months ended September 30, 2020 As originally reported As adjusted Effect of change Interest expense/(income) $ 2.0 $ 0.3 $ (1.7) (Loss)/Income from operations before income taxes (19.7) (18.0) 1.7 Income tax (benefit)/expense (5.8) (5.4) 0.4 Net (loss)/income $ (13.9) $ (12.6) $ 1.3 Net (loss)/income per weighted average share - basic and diluted $ (0.10) $ (0.09) $ 0.01 Balance Sheet (in Millions, except per share amounts) September 30, 2021 As computed under ASC 470-20 As reported under ASU 2020-06 Effect of change Deferred income taxes $ 15.0 7.8 $ (7.2) Long-term debt 207.4 240.1 32.7 Total liabilities $ 222.4 $ 247.9 $ 25.5 Common stock, $0.001 per share par value 0.1 0.1 — Capital in excess of par value of common stock 808.6 776.4 (32.2) Retained earnings 46.7 53.4 6.7 Accumulated other comprehensive loss (44.6) (44.6) — Treasury stock (0.8) (0.8) — Total equity 810.0 784.5 (25.5) Total liabilities and equity $ 1,032.4 $ 1,032.4 $ — December 31, 2020 As originally reported As adjusted Effect of change Deferred income taxes $ 13.9 $ 5.6 $ (8.3) Long-term debt 236.7 274.6 37.9 Total liabilities $ 250.6 $ 280.2 $ 29.6 Common stock 0.1 0.1 — Capital in excess of par value of common stock 553.1 520.9 (32.2) Retained earnings 57.7 60.3 2.6 Accumulated other comprehensive loss (44.4) (44.4) — Treasury stock, common, at cost (0.7) (0.7) — Total equity 565.8 536.2 (29.6) Total liabilities and equity $ 816.4 $ 816.4 $ — Statement of cash flows (in Millions) Nine months ended September 30, 2021 As computed under ASC 470-20 As reported under ASU 2020-06 Effect of change Net (loss)/income $ (11.0) $ (6.9) $ 4.1 Adjustments to reconcile net (loss)/income to cash provided by operating activities: Deferred income taxes 10.1 11.2 1.1 Deferred financing fee amortization 5.5 0.3 (5.2) Net cash provided by operating activities 4.6 4.6 — Net increase in cash and cash equivalents 183.7 183.7 — Cash and cash equivalents, beginning of period 11.6 11.6 — Cash and cash equivalents, end of period $ 195.3 $ 195.3 $ — Nine months ended September 30, 2020 As originally reported As adjusted Effect of change Net (loss)/income $ (13.9) $ (12.6) $ 1.3 Adjustments to reconcile net (loss)/income to cash required by operating activities: Deferred income taxes (6.1) (5.7) 0.4 Deferred financing fee amortization 2.0 0.3 (1.7) Net cash required by operating activities (18.0) (18.0) — Net decrease in cash and cash equivalents (2.0) (2.0) — Cash and cash equivalents, beginning of period 16.8 16.8 — Cash and cash equivalents, end of period $ 14.8 $ 14.8 $ —

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Stock by Class	The following is a summary of Livent's common stock issued and outstanding: Issued Treasury Outstanding Balance at December 31, 2020 146,461,249 (99,268) 146,361,981 Adjusted FMC RSU awards (1) 120,986 — 120,986 Livent RSU awards 102,505 — 102,505 Livent stock option awards 41,407 — 41,407 Net purchases of treasury stock - deferred compensation plan — (1,863) (1,863) Issuance of common stock 14,950,000 — 14,950,000 Balance at September 30, 2021 161,676,147 (101,131) 161,575,016 1. See Note 12 to our consolidated and combined financial statements in Part II, Item 8 of our 2020 Annual Report on Form 10-K for more information on Adjusted FMC RSU awards held by FMC employees.
Schedule of Accumulated Other Comprehensive Income (Loss)	Summarized below is the roll forward of accumulated other comprehensive loss, net of tax. (in Millions) Foreign currency adjustments Derivative Instruments (1) Total Accumulated other comprehensive loss, net of tax at December 31, 2020 $ (44.4) — $ (44.4) Other comprehensive losses before reclassifications (0.2) — (0.2) Accumulated other comprehensive loss, net of tax at September 30, 2021 $ (44.6) $ — $ (44.6) (in Millions) Foreign currency adjustments Derivative Instruments (1) Total Accumulated other comprehensive loss, net of tax at December 31, 2019 $ (48.3) $ — $ (48.3) Other comprehensive gains/(losses) before reclassifications 1.4 (0.2) 1.2 Accumulated other comprehensive loss, net of tax at September 30, 2020 $ (46.9) $ (0.2) $ (47.1) 1. See Note 12 for more information.
Reclassifications of Accumulated Other Comprehensive Income	The table below provides details about the reclassifications from accumulated other com prehensive loss and the affected line items in the condensed consolidated statements of operations for the period presented. No amounts were reclassified from accumulated other comprehensive loss for the three and nine months ended September 30, 2021. Details about Accumulated Other Comprehensive Loss Components Amounts Reclassified from Accumulated Other Comprehensive Loss (1) Affected Line Item in the Condensed Consolidated Statements of Operations Three Months Ended September 30, Nine Months Ended September 30, (in Millions) 2021 2020 2021 2020 Derivative instruments Foreign currency contracts $ — $ (0.2) $ — $ (0.2) Costs of sales and services Total before tax — (0.2) — (0.2) Amount included in net income (1) $ — $ (0.2) $ — $ (0.2) (1) Provision for income taxes related to the reclassification was less than $0.1 million.

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earnings Per Share	oss applicable to common stock and common stock shares used in the calculation of basic and diluted loss per share are as follows: (in Millions, Except Share and Per Share Data) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Numerator: Net loss $ (12.6) $ (10.5) $ (6.9) $ (12.6) Denominator: Weighted average common shares outstanding - basic and diluted 161.6 146.3 152.3 146.2 Basic and diluted loss per common share: Net loss per weighted average share - basic and diluted $ (0.08) $ (0.07) $ (0.05) $ (0.09)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents weighted average share equivalents associated with share-based plans and the 2025 Notes that were excluded from the diluted shares outstanding calculation because the result would have been antidilutive. The 2025 Notes are further discussed in Note 9. (in Millions) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Share equivalents from share-based plans 1.5 0.6 1.4 0.6 Share equivalents from 2025 Notes 45.3 28.1 44.0 10.1 Total antidilutive weighted average share equivalents 46.8 28.7 45.4 10.7

Financial Instruments, Risk M_2

Financial Instruments, Risk Management and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule Of Financial Instrument Valuation Methods	Our other financial instruments include the following: Financial Instrument Valuation Method Foreign exchange forward contracts Estimated amounts that would be received or paid to terminate the contracts at the reporting date based on current market prices for applicable currencies.
Derivatives in Cash Flow Hedging Relationships	The following tables summarize the losses related to our cash flow hedges and derivatives not designated as cash flow hedging instruments. For the three months ended March 31, 2021 and 2020, we did not have any open derivative cash flow hedge contracts. (in Millions) Total Foreign Exchange Contracts Accumulated other comprehensive loss, net of tax at March 31, 2021 $ — Unrealized hedging gains, net of tax 0.1 Total derivatives instruments impact on comprehensive income, net of tax 0.1 Accumulated other comprehensive gain, net of tax at June 30, 2021 $ 0.1 Unrealized hedging losses, net of tax (0.1) Total derivatives instruments impact on comprehensive income, net of tax (0.1) Accumulated other comprehensive gain, net of tax at September 30, 2021 $ — (in Millions) Total Foreign Exchange Contracts Accumulated other comprehensive loss, net of tax at March 31, 2020 $ — Unrealized hedging loses, net of tax (0.2) Total derivatives instruments impact on comprehensive income, net of tax (0.2) Accumulated other comprehensive loss, net of tax at June 30, 2020 $ (0.2) Unrealized hedging gains, net of tax 0.2 Reclassification of deferred hedging gains, net of tax (1) (0.2) Accumulated other comprehensive loss, net of tax at September 30, 2020 $ (0.2) 1. Amounts are included in "Cost of sales and services" on the condensed consolidated statements of operations
Derivatives Not Designated as Hedging Instruments	Location of Loss Amount of Pre-tax Loss Recognized in Income on Derivatives (1) Three Months Ended September 30, Nine Months Ended September 30, (in Millions) 2021 2020 2021 2020 Foreign Exchange contracts Cost of Sales and Services (2) $ (0.2) $ (0.8) $ (1.1) $ (1.9) Total $ (0.2) $ (0.8) $ (1.1) $ (1.9) ____________________ 1. Amounts represent the gain or loss on the derivative instrument offset by the gain or loss on the hedged item. 2. A loss of $0.1 million and $0.2 million
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present our fair-value hierarchy for those assets and liabilities measured at fair-value on a recurring basis in our condensed consolidated balance sheets. (in Millions) September 30, 2021 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets Investments in deferred compensation plan (1) $ 3.1 $ 3.1 $ — $ — Total Assets $ 3.1 $ 3.1 $ — $ — Liabilities Deferred compensation plan obligation (2) $ 5.5 $ 5.5 $ — $ — Total Liabilities $ 5.5 $ 5.5 $ — $ — (in Millions) December 31, 2020 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets Investments in deferred compensation plan (1) $ 2.6 $ 2.6 $ — $ — Total Assets $ 2.6 $ 2.6 $ — $ — Liabilities Deferred compensation plan obligation (2) $ 4.5 $ 4.5 $ — $ — Total Liabilities $ 4.5 $ 4.5 $ — $ — ____________________ 1. Balance is included in “Investments” in the condensed consolidated balance sheets. Livent NQSP investments in Livent common stock are recorded as "Treasury stock" in the condensed consolidated balance sheets and carried at historical cost. A mark-to-market loss of $0.4 million was recorded for the three and nine months ended September 30, 2021, related to the Livent common stock. The mark-to-market gains were recorded in "Selling, general and administrative expense" in the condensed consolidated statement of operations, with a corresponding offset to the deferred compensation plan obligation in the condensed consolidated balance sheets. 2. Balance is included in “Other long-term liabilities” in the condensed consolidated balance sheets.
Schedule of Derivative Assets at Fair Value	As of September 30, 2021, we had open derivative cash flow hedge contracts in a net gain fair value position of less than $0.1 million. The Company had no open derivative cash flow hedge contracts as of December 31, 2020.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Lease Cost and Terms	Quantitative disclosures about our leases are summarized in the table below. Three Months Ended September 30, Nine Months Ended September 30, (in Millions, except for weighted-average amounts) 2021 2020 2021 2020 Lease Cost Operating lease cost $ 0.4 $ 0.6 $ 1.0 $ 1.6 Short-term lease cost 0.3 — 1.0 0.3 Variable lease cost (1) — — 0.1 0.1 Total lease cost (1) $ 0.7 $ 0.6 $ 2.1 $ 2.0 Other information Cash paid for amounts included in the measurement of lease liabilities: Cash paid for operating leases $ 0.5 $ 0.5 $ 1.6 $ 1.5 __________________________
Schedule of Maturity of Operating Lease Liabilities	The table below presents a maturity analysis of our operating lease liabilities for each of the next five years and a total of the amounts for the remaining years. (in Millions) Undiscounted cash flows Remainder of 2021 $ 0.4 2022 1.3 2023 1.1 2024 1.1 2025 1.1 Thereafter 3.0 Total future minimum lease payments 8.0 Less: Imputed interest (1.5) Total $ 6.5

Supplemental Information (Table

Supplemental Information (Tables)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Prepaid and Other Assets	The following tables present details of prepaid and other current assets, other assets, accrued and other current liabilities, and other long-term liabilities as presented on the condensed consolidated balance sheets: (in Millions) September 30, 2021 December 31, 2020 Prepaid and other current assets Argentina government receivable (1) $ 11.8 $ 10.8 Tax related items 15.4 15.7 Other receivables 3.0 8.6 Prepaid expenses 7.6 8.2 Bank Acceptance Drafts (2) — 0.2 Other current assets (3) 6.0 12.8 Total $ 43.8 $ 56.3 (in Millions) September 30, 2021 December 31, 2020 Other assets Argentina government receivable (1) $ 51.0 $ 55.8 Advance to contract manufacturers (4) 15.6 16.3 Capitalized software, net 1.5 1.8 Tax related items 2.5 2.7 Other assets 11.0 11.8 Total $ 81.6 $ 88.4 _________________ 1. We have various subsidiaries that conduct business in Argentina. As of September 30, 2021 and December 31, 2020, $38.3 million and $39.5 million, respectively, of outstanding receivables due from the Argentina government, which primarily represent export tax and export rebate receivables, was denominated in U.S. dollars. As with all outstanding receivable balances, we continually review recoverability by analyzing historical experience, current collection trends and regional business and political factors among other factors. 2. Bank Acceptance Drafts are a common Chinese finance note used to settle trade transactions. Livent accepts these notes from Chinese customers based on criteria intended to ensure collectability and limit working capital usage. 3. The December 31, 2020 balance includes a $5.4 million receivable for insurance reimbursement related to the IPO litigation settlement which was netted with the IPO litigation settlement accrual. The IPO litigation settlement was finalized in the second quarter of 2021. See Note 7 for details. 4. We record deferred charges for certain contract manufacturing agreements which we amortize over the term of the underlying contract.
Schedule of Accrued and Other Liabilities	(in Millions) September 30, 2021 December 31, 2020 Accrued and other current liabilities Plant restructuring reserves $ 3.2 $ 3.2 Retirement liability - 401K 0.6 2.6 Accrued payroll 11.5 12.5 Severance related 0.2 2.5 Environmental reserves, current 0.5 0.6 Other accrued and other current liabilities (1) 19.7 15.3 Total $ 35.7 $ 36.7 (in Millions) September 30, 2021 December 31, 2020 Other long-term liabilities Accrued investment in unconsolidated affiliate $ 6.2 $ 6.2 Asset retirement obligations 0.3 0.3 Contingencies related to uncertain tax positions (2) 3.6 3.4 Deferred compensation plan obligation 5.5 4.5 Self-insurance reserves 1.5 1.5 Other long-term liabilities 1.1 1.3 Total $ 18.2 $ 17.2 ____________________ 1. Amounts p rimarily include accrued capital expenditures related to our expansion projects. December 31, 2020 includes a $7.4 million settlement accrual related to IPO litigation recorded in the third quarter of 2020. The IPO litigation settlement was finalized in the second quarter of 2021. 2. As of September 30, 2021, we have recorded a liability for uncertain tax positions o f $3.2 million and a $0.4 million indemnification liability to FMC for assets held by the Company where the offsetting liability for uncertain tax positions rests with FMC. The Company agreed to bear any possible liability for this matter under the terms of the Tax Matters Agreement that it entered into with FMC in connection with the Separation.

Principal Accounting Policies_2

Principal Accounting Policies and Related Financial Information (Details) - Convertible Debt	Sep. 30, 2021
Related Party Transaction [Line Items]
Debt interest rate	4.125%
2025 Notes
Related Party Transaction [Line Items]
Debt interest rate	4.125%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue by Major Geographical Region (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenue	$ 103.6	$ 72.6	$ 297.5	$ 206
North America
Disaggregation of Revenue [Line Items]
Total Revenue	20	11	63.4	40.5
Latin America
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0.1
Europe, Middle East & Africa
Disaggregation of Revenue [Line Items]
Total Revenue	14.2	9.8	46	32.3
Asia Pacific
Disaggregation of Revenue [Line Items]
Total Revenue	69.4	51.8	188.1	133.1
UNITED STATES
Disaggregation of Revenue [Line Items]
Total Revenue	19.7	11	62.7	40
Japan
Disaggregation of Revenue [Line Items]
Total Revenue	24.5	23.5	65.1	81.1
China
Disaggregation of Revenue [Line Items]
Total Revenue	$ 36.6	$ 19	$ 89.9	$ 29.1

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Contract liabilities from customers	$ 0		$ 0		$ 0
Customer One | Revenue from Contract with Customer Benchmark | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	35.00%	34.00%	36.00%	35.00%
Ten Largest Customers | Revenue from Contract with Customer Benchmark | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	69.00%	68.00%	68.00%	64.00%
Customer Two | Revenue from Contract with Customer Benchmark | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage		10.00%

Revenue Recognition - Disaggr_2

Revenue Recognition - Disaggregation of Revenue By Major Product Category (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenue	$ 103.6	$ 72.6	$ 297.5	$ 206
Lithium Hydroxide
Disaggregation of Revenue [Line Items]
Total Revenue	50.7	43.9	160.5	115.4
Butyllithium
Disaggregation of Revenue [Line Items]
Total Revenue	27.4	19.6	76.1	62.4
High Purity Lithium Metal and Other Specialty Compounds
Disaggregation of Revenue [Line Items]
Total Revenue	9.8	7.1	27.6	23
Lithium Carbonate and Lithium Chloride
Disaggregation of Revenue [Line Items]
Total Revenue	$ 15.7	$ 2	$ 33.3	$ 5.2

Revenue Recognition - Assets an

Revenue Recognition - Assets and Liabilities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Receivables from contracts with customers, net of allowances	$ 83	$ 76.3
Increase (Decrease)	$ 6.7

Revenue Recognition - Performan

Revenue Recognition - Performance Obligations (Details) $ in Millions	Sep. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 10
Expected timing of satisfaction of performance obligations	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 68
Expected timing of satisfaction of performance obligations	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 68
Expected timing of satisfaction of performance obligations	1 year

Inventories, Net - Schedule of

Inventories, Net - Schedule of Inventory (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 35	$ 36.1
Semi-finished goods	41.3	46.2
Raw materials, supplies and other	33.9	23.3
Inventory, net	$ 110.2	$ 105.6

Investments (Details)

Investments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Equity in net loss of unconsolidated affiliates	$ 1	$ 0.1	$ 3.7	$ 0.4
QLP
Schedule of Equity Method Investments [Line Items]
Equity in net loss of unconsolidated affiliates	$ 1		$ 3.7
Equity interest percentage	50.00%		50.00%
Equity method investments	$ 20.1		$ 20.1		$ 21.2

Restructuring and Other Charg_3

Restructuring and Other Charges - Restructuring Charges in Consolidated Income (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)site	Sep. 30, 2020USD ($)
Other charges
Environmental remediation	$ 0.1	$ 0.1	$ 0.3	$ 0.4
Other	0.9	3.4	2.9	3.9
Total Restructuring and other charges	1.1	4.4	3.4	10.1
Exit costs			$ 1.6
Number of environmental remediation sites | site			1
Nikolov V. Livent Corp | Pending Litigation
Other charges
Net loss contingency		2.5		2.5
Severance-related and exit costs
Restructuring charges
Severance-related and exit costs	$ 0.1	$ 0.9	$ 0.2	$ 5.8

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expense/(benefit)	$ (15.4)	$ 3.1	$ (13.8)	$ 5.4
Effective tax rate	540.50%	22.80%	198.70%	30.00%

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Discount - 2025 Notes	$ (5,700,000)	$ (6,800,000)
Total long-term debt	240,100,000	274,600,000
Debt maturing within one year	$ 0	0
Convertible Debt
Debt Instrument [Line Items]
Convertible debt, interest rate	4.125%
Long-term debt, gross	$ 245,800,000	245,800,000
Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding amount	14,400,000	14,400,000
Line of credit, remaining borrowing capacity	385,600,000	275,000,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	$ 35,600,000
LIBOR borrowings | Revolving Credit Facility
Debt Instrument [Line Items]
Interest Rate Percentage	2.30%
Base rate borrowings | Revolving Credit Facility
Debt Instrument [Line Items]
Interest Rate Percentage	4.50%

Debt - Adjusted Financial State

Debt - Adjusted Financial Statements to Apply Adopted Guidance (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 15, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of operations
Interest expense, net				$ 0.3				$ 0.3
Income from operations before income taxes				(13.6)				(18)
Income tax expense/(benefit)	$ 15.4			(3.1)			$ 13.8	(5.4)
Net loss	(12.6)	$ 6.5	$ (0.8)	(10.5)	$ (0.2)	$ (1.9)	(6.9)	(12.6)
Adjustments to reconcile net (loss)/income to cash provided by operating activities:
Deferred income taxes								(5.7)
Deferred financing fees amortization								0.3
Cash provided by operating activities							41	1.5
Net increase in cash and cash equivalents							183.7	(2)
Cash and cash equivalents, beginning of period			$ 11.6			$ 16.8	11.6	16.8
Cash and cash equivalents, end of period	$ 195.3			$ 14.8			$ 195.3	$ 14.8
Net loss per weighted average share - basic (in dollars per share)	$ (0.08)			$ (0.07)			$ (0.05)	$ (0.09)
Net loss weighted average share - diluted (in dollars per share)	$ (0.08)			(0.07)			$ (0.05)	(0.09)
Balance Sheet
Deferred income taxes	$ 2.2						$ 2.2			$ 13.4
Long-term debt										274.6
Total current and long-term liabilities	$ 366.5						$ 366.5			$ 400.6
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001		$ 0.001
Common stock										$ 0.1
Capital in excess of par value of common stock										520.9
Retained earnings										60.3
Accumulated other comprehensive loss										(44.4)
Treasury stock, common; 101,131 and 99,268 shares at September 30, 2021 and December 31, 2020, respectively										(0.7)
Total equity	$ 784.5	$ 797.1	$ 535.6	$ 535.7	$ 541.7	$ 540.8	$ 784.5	$ 535.7		536.2	$ 544
Total liabilities and equity	1,151						1,151			936.8
Statement of cash flows
Net loss	(12.6)	$ 6.5	(0.8)	(10.5)	$ (0.2)	(1.9)	(6.9)	(12.6)
Accounting Standards Update 2020-06
Statement of operations
Interest expense, net	0			0.3			0.3	0.3
Income from operations before income taxes	2.8			(13.6)			6.9	(18)
Income tax expense/(benefit)	15.4			(3.1)			13.8	(5.4)
Net loss	$ (12.6)			(10.5)			(6.9)	(12.6)
Adjustments to reconcile net (loss)/income to cash provided by operating activities:
Deferred income taxes							11.2	(5.7)
Deferred financing fees amortization							0.3	0.3
Cash provided by operating activities							$ 4.6	(18)
Cash and cash equivalents, beginning of period						16.8		16.8
Cash and cash equivalents, end of period				$ 14.8				$ 14.8
Net loss per weighted average share - basic (in dollars per share)	$ (0.08)			$ (0.07)			$ (0.05)	$ (0.09)
Net loss weighted average share - diluted (in dollars per share)	$ (0.08)						$ (0.05)
Balance Sheet
Deferred income taxes	$ 7.8						$ 7.8			5.6
Long-term debt	240.1						240.1			274.6
Total current and long-term liabilities	247.9						247.9			280.2
Common stock	0.1						0.1			0.1
Capital in excess of par value of common stock	776.4						776.4			520.9
Retained earnings	53.4						53.4			60.3
Accumulated other comprehensive loss	(44.6)						(44.6)			(44.4)
Treasury stock, common; 101,131 and 99,268 shares at September 30, 2021 and December 31, 2020, respectively	(0.8)						(0.8)			(0.7)
Total equity	784.5						784.5			536.2
Total liabilities and equity	1,032.4						1,032.4			816.4
Statement of cash flows
Net loss	(12.6)			$ (10.5)			(6.9)	$ (12.6)
As computed under ASC 470-20
Statement of operations
Interest expense, net	1.8			2			5.5	2
Income from operations before income taxes	1			(15.3)			1.7	(19.7)
Income tax expense/(benefit)	15			(3.5)			12.7	(5.8)
Net loss	(14)			(11.8)			(11)	(13.9)
Adjustments to reconcile net (loss)/income to cash provided by operating activities:
Deferred income taxes							10.1	(6.1)
Deferred financing fees amortization							5.5	2
Cash provided by operating activities							4.6	(18)
Net increase in cash and cash equivalents							183.7	(2)
Cash and cash equivalents, beginning of period			11.6			16.8	11.6	16.8
Cash and cash equivalents, end of period	$ 195.3			$ 14.8			$ 195.3	$ 14.8
Net loss per weighted average share - basic (in dollars per share)	$ (0.09)			$ (0.08)			$ (0.07)	$ (0.10)
Balance Sheet
Deferred income taxes	$ 15						$ 15			13.9
Long-term debt	207.4						207.4			236.7
Total current and long-term liabilities	222.4						222.4			250.6
Common stock	0.1						0.1			0.1
Capital in excess of par value of common stock	808.6						808.6			553.1
Retained earnings	46.7						46.7			57.7
Accumulated other comprehensive loss	(44.6)						(44.6)			(44.4)
Treasury stock, common; 101,131 and 99,268 shares at September 30, 2021 and December 31, 2020, respectively	(0.8)						(0.8)			(0.7)
Total equity	810						810			565.8
Total liabilities and equity	1,032.4						1,032.4			816.4
Statement of cash flows
Net loss	(14)			$ (11.8)			(11)	$ (13.9)
Effect of change | Accounting Standards Update 2020-06
Statement of operations
Interest expense, net	(1.8)			(1.7)			(5.2)	(1.7)
Income from operations before income taxes	1.8			1.7			5.2	1.7
Income tax expense/(benefit)	0.4			0.4			1.1	0.4
Net loss	1.4			1.3			4.1	1.3
Adjustments to reconcile net (loss)/income to cash provided by operating activities:
Deferred income taxes							1.1	0.4
Deferred financing fees amortization							(5.2)	(1.7)
Cash provided by operating activities							0	0
Net increase in cash and cash equivalents							0	0
Cash and cash equivalents, beginning of period			$ 0			$ 0	0	0
Cash and cash equivalents, end of period	$ 0			$ 0			$ 0	$ 0
Net loss per weighted average share - basic (in dollars per share)	$ 0.01			$ 0.01			$ 0.02	$ 0.01
Balance Sheet
Deferred income taxes	$ (7.2)						$ (7.2)			(8.3)
Long-term debt	32.7						32.7			37.9
Total current and long-term liabilities	25.5						25.5			29.6
Common stock	0						0			0
Capital in excess of par value of common stock	(32.2)						(32.2)			(32.2)
Retained earnings	6.7						6.7			2.6
Accumulated other comprehensive loss	0						0			0
Treasury stock, common; 101,131 and 99,268 shares at September 30, 2021 and December 31, 2020, respectively	0						0			0
Total equity	(25.5)						(25.5)			(29.6)
Total liabilities and equity	0						0			$ 0
Statement of cash flows
Net loss	$ 1.4			$ 1.3			$ 4.1	$ 1.3

Debt - Narrative (Details)

Debt - Narrative (Details)	3 Months Ended		9 Months Ended
	Dec. 31, 2021day	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)
First Amendment
Debt Instrument [Line Items]
Deferred financing costs		$ 1,700,000	$ 1,700,000
First Amendment | Citibank, N.A. | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum net leverage ratio			3.5
Minimum allowable interest coverage ratio			3.5
Convertible Debt | 2025 Notes
Debt Instrument [Line Items]
Amortization of debt discount and transaction costs		400,000	$ 1,100,000
Interest expense capitalized		400,000	800,000
Interest expense on debt, excluding amortization of debt discount		$ 2,500,000	$ 7,600,000
Convertible Debt | Conversion Circumstance One | Subsequent Event
Debt Instrument [Line Items]
Threshold trading days | day	20
Threshold consecutive trading days | day	30
Threshold percentage of stock price trigger	130.00%

Equity - Additional Information

Equity - Additional Information (Details) - USD ($)	Jun. 15, 2021	Jun. 11, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2018
Equity [Abstract]
Common stock, shares authorized (in shares)			2,000,000,000		2,000,000,000				2,000,000,000			2,000,000
Class of Stock [Line Items]
Sale of stock, number of shares issued (in shares)	14,950,000
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Sale of stock, price per share (in USD per share)	$ 17.50
Underwriting period (in days)		30 days
Sale of stock, consideration received	$ 252,200,000
Underwriters' fees and offering expenses payable	$ 9,400,000				$ 9,400,000	$ 0
Limited risk investments			$ 140,000,000
Dividends paid			$ 0	$ 0	$ 0	$ 0
Over-Allotment Option
Class of Stock [Line Items]
Sale of stock, number of shares issued (in shares)		1,950,000

Equity - Summary of Capital Sto

Equity - Summary of Capital Stock Activity (Details)	9 Months Ended
	Sep. 30, 2021shares
Capital Stock Activity [Roll Forward]
Beginning balance (in shares)	146,461,249
Beginning balance, outstanding (in shares)	146,361,981
Ending balance (in shares)	161,676,147
Beginning balance, outstanding (in shares)	161,575,016
Treasury Stock [Roll Forward]
Beginning balance (in shares)	(99,268)
Purchases of Treasury Stock - deferred compensation plan (in shares)	(1,863)
Ending balance (in shares)	(101,131)
Issuance of common stock
Capital Stock Activity [Roll Forward]
Stock issued during period (in shares)	14,950,000
FMC Plan | Restricted Stock Units (RSUs)
Capital Stock Activity [Roll Forward]
Stock issued during period (in shares)	120,986
Livent Plan | Restricted Stock Units (RSUs)
Capital Stock Activity [Roll Forward]
Stock issued during period (in shares)	102,505
Livent Plan | Stock Option
Capital Stock Activity [Roll Forward]
Stock issued during period (in shares)	41,407

Equity - Schedule of Accumulate

Equity - Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 797.1	$ 535.6	$ 541.7	$ 540.8	$ 536.2	$ 544
Ending balance	784.5	797.1	535.7	541.7	784.5	535.7
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(43.4)	(44.7)	(50.1)	(50.1)	(44.4)	(48.3)
Other comprehensive losses before reclassifications					(0.2)	1.2
Ending balance	(44.6)	(43.4)	(47.1)	(50.1)	(44.6)	(47.1)
Foreign currency adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance					(44.4)	(48.3)
Other comprehensive losses before reclassifications					(0.2)	1.4
Ending balance	(44.6)		(46.9)		(44.6)	(46.9)
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0.1	0	(0.2)	0	0	0
Other comprehensive losses before reclassifications	(0.1)	0.1	0.2	(0.2)	0	(0.2)
Ending balance	$ 0	$ 0.1	$ (0.2)	$ (0.2)	$ 0	$ (0.2)

Equity - Reclassification out o

Equity - Reclassification out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ 85.3			$ 69.8			$ 245.5	$ 178.4
Income from operations before income taxes				(13.6)				(18)
Net loss	(12.6)	$ 6.5	$ (0.8)	(10.5)	$ (0.2)	$ (1.9)	(6.9)	(12.6)
Income tax expense/(benefit)	15.4			(3.1)			13.8	(5.4)
Derivative Instruments | Amounts Reclassified from Acccumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	0			(0.2)			0	(0.2)
Income from operations before income taxes	0			(0.2)			0	(0.2)
Net loss	$ 0			(0.2)			$ 0	$ (0.2)
Derivative Instruments | Amounts Reclassified from Acccumulated Other Comprehensive Loss | Maximum
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense/(benefit)				$ 0.1

Loss Per Share - EPS Calculatio

Loss Per Share - EPS Calculation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net loss	$ (12.6)	$ 6.5	$ (0.8)	$ (10.5)	$ (0.2)	$ (1.9)	$ (6.9)	$ (12.6)
Denominator:
Weighted average common shares outstanding - diluted (in shares)	161.6			146.3			152.3	146.2
Basic and diluted loss per common share:
Net loss per weighted average share - basic (in dollars per share)	$ (0.08)			$ (0.07)			$ (0.05)	$ (0.09)
Net loss weighted average share - diluted (in dollars per share)	$ (0.08)			$ (0.07)			$ (0.05)	$ (0.09)

Loss Per Share - Antidilutive S

Loss Per Share - Antidilutive Securities (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	46.8	28.7	45.4	10.7
Share-based Plans
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1.5	0.6	1.4	0.6
2025 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	45.3	28.1	44	10.1

Loss Per Share - Narrative (Det

Loss Per Share - Narrative (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	46,800,000	28,700,000	45,400,000	10,700,000
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	1,835,476	542,760	1,904,010
Antidilutive securities, exercise price (in dollars per share)		$ 12.59	$ 20.35	$ 12.58

Financial Instruments, Risk M_3

Financial Instruments, Risk Management and Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Open foreign currency forward contracts designated as cash flow hedges, U.S. dollar equivalent		$ 5.6
Foreign currency translation, net of tax	$ 0.1
Forward Contracts
Derivative [Line Items]
AOCI, net		0.1
Foreign Exchange contracts | Not Designated as Hedging Instrument
Derivative [Line Items]
Open foreign currency forward contracts designated as cash flow hedges, U.S. dollar equivalent		30.9
Estimate of Fair Value Measurement
Derivative [Line Items]
Long-term debt value		292	$ 267.6
Reported Value Measurement
Derivative [Line Items]
Long-term debt value		$ 240.1	$ 274.6

Financial Instruments, Risk M_4

Financial Instruments, Risk Management and Fair Value Measurements - Derivatives in Cash Flow Hedging Relationships (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 797.1	$ 535.6	$ 541.7	$ 540.8	$ 536.2	$ 544
Total derivatives instruments impact on comprehensive income, net of tax	(1.2)		3		(0.2)	1.2
Ending balance	784.5	797.1	535.7	541.7	784.5	535.7
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0.1	0	(0.2)	0	0	0
Unrealized hedging gains, net of tax	0.1	(0.1)	(0.2)	0.2	0	0.2
Total derivatives instruments impact on comprehensive income, net of tax	(0.1)	0.1	(0.2)	(0.2)
Ending balance	$ 0	$ 0.1	$ (0.2)	$ (0.2)	$ 0	$ (0.2)

Financial Instruments, Risk M_5

Financial Instruments, Risk Management and Fair Value Measurements - Derivatives Not Designated As Cash Flow Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative [Line Items]
Amount of pre-tax gain or (loss) recognized in income on derivatives	$ (0.2)	$ (0.8)	$ (1.1)	$ (1.9)
Foreign Exchange contracts
Derivative [Line Items]
Loss on derivative	0.1	0.1		0.1
Gain on derivative			0.2
Foreign Exchange contracts | Cost of Sales and Services
Derivative [Line Items]
Amount of pre-tax gain or (loss) recognized in income on derivatives	$ (0.2)	$ (0.8)	$ (1.1)	$ (1.9)

Financial Instruments, Risk M_6

Financial Instruments, Risk Management and Fair Value Measurements - Recurring Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Assets
Investments in deferred compensation plan	$ 3.1	$ 2.6
Total Assets	3.1	2.6
Liabilities
Deferred compensation plan obligation	5.5	4.5
Total Liabilities	5.5	4.5
Selling, General and Administrative Expenses
Liabilities
Mark-to-market loss on common stock	0.4
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Investments in deferred compensation plan	3.1	2.6
Total Assets	3.1	2.6
Liabilities
Deferred compensation plan obligation	5.5	4.5
Total Liabilities	5.5	4.5
Significant Other Observable Inputs (Level 2)
Assets
Investments in deferred compensation plan	0	0
Total Assets	0	0
Liabilities
Deferred compensation plan obligation	0	0
Total Liabilities	0	0
Significant Unobservable Inputs (Level 3)
Assets
Investments in deferred compensation plan	0	0
Total Assets	0	0
Liabilities
Deferred compensation plan obligation	0	0
Total Liabilities	$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) ft² in Thousands, $ in Millions	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)ft²	Apr. 13, 2021ft²	Dec. 31, 2020USD ($)
Lessee, Lease, Description [Line Items]
Operating lease, weighted average remaining lease term	8 years 7 months 6 days			11 years 8 months 12 days
Operating lease, weighted average discount rate	4.90%			4.40%
Right of use assets - operating leases, net	$ 6.4			$ 16.1
Operating lease liabilities - long-term	5.5			14.8
Corporate Headquarters
Lessee, Lease, Description [Line Items]
Area of office space in terminated lease (square feet) | ft²		25
ROU asset removed due to terminated lease		$ 10.9
Lease liability removed due to terminated lease		$ 10.9
Term of lease agreement (in years)			5 years
Area of office space in new lease agreement (square feet) | ft²			13
Right of use assets - operating leases, net	2.1
Operating lease liabilities - long-term	$ 2.1
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term	14 years
Nikolov V. Livent Corp | Pending Litigation
Lessee, Lease, Description [Line Items]
Settlement amount to be paid				$ 7.4

Commitments and Contingencies_2

Commitments and Contingencies - Lease Cost and Terms (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Lease Cost
Operating lease cost	$ 0.4	$ 0.6	$ 1	$ 1.6
Short-term lease cost	0.3	0	1	0.3
Variable lease cost	0	0	0.1	0.1
Total lease cost	0.7	0.6	2.1	2
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases	0.5	0.5	1.6	1.5
Lessee, Lease, Description [Line Items]
Short-term lease cost	0.3	0	1	0.3
Variable lease cost	0	0	$ 0.1	$ 0.1
Maximum
Lease Cost
Short-term lease cost		0.1
Variable lease cost	0.1	0.1
Lessee, Lease, Description [Line Items]
Short-term lease cost		0.1
Variable lease cost	$ 0.1	$ 0.1

Commitments and Contingencies_3

Commitments and Contingencies - Maturity of Operating Lease Liabilities (Details) $ in Millions	Sep. 30, 2021USD ($)
Undiscounted cash flows
Remainder of 2021	$ 0.4
2022	1.3
2023	1.1
2024	1.1
2025	1.1
Thereafter	3
Total future minimum lease payments	8
Less: Imputed interest	(1.5)
Total	$ 6.5

Supplemental Information - Prep

Supplemental Information - Prepaid and Other Current Assets (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Prepaid and other current assets
Argentina government receivable	$ 11.8	$ 10.8
Tax related items	15.4	15.7
Other receivables	3	8.6
Prepaid expenses	7.6	8.2
Bank Acceptance Drafts	0	0.2
Other current assets	6	12.8
Total	$ 43.8	$ 56.3

Supplemental Information - Othe

Supplemental Information - Other Assets (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Other assets
Argentina government receivable	$ 51	$ 55.8
Advance to contract manufacturers	15.6	16.3
Capitalized software, net	1.5	1.8
Tax related items	2.5	2.7
Other assets	11	11.8
Total	81.6	88.4
Nikolov V. Livent Corp | Pending Litigation
Condensed Balance Sheet Statements, Captions [Line Items]
Insurance reimbursement receivable		5.4
Argentina Government
Condensed Balance Sheet Statements, Captions [Line Items]
Export tax and export rebate receivable	$ 38.3	$ 39.5

Supplemental Information - Accr

Supplemental Information - Accrued and Other Current Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Accrued and other current liabilities
Plant restructuring reserves	$ 3.2	$ 3.2
Retirement liability - 401K	0.6	2.6
Accrued payroll	11.5	12.5
Severance related	0.2	2.5
Environmental reserves, current	0.5	0.6
Other accrued and other current liabilities	19.7	15.3
Total	$ 35.7	$ 36.7

Supplemental Information - Ot_2

Supplemental Information - Other Long-Term Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Other long-term liabilities
Accrued investment in unconsolidated affiliate	$ 6.2	$ 6.2
Asset retirement obligations	0.3	0.3
Contingencies related to uncertain tax positions	3.6	3.4
Deferred compensation plan obligation	5.5	4.5
Self-insurance reserves	1.5	1.5
Other long-term liabilities	1.1	1.3
Total	18.2	17.2
TMA Agreement, Uncertain Tax Positions
Other long-term liabilities
Contingencies related to uncertain tax positions	3.2
TMA Agreement, Indemnification Liability
Other long-term liabilities
Contingencies related to uncertain tax positions	$ 0.4
Nikolov V. Livent Corp | Pending Litigation
Other long-term liabilities
Settlement amount to be paid		$ 7.4