Equity

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Equity

Equity

For the period from December 31, 2018 to December 31, 2021, the Company had 2 billion shares of common stock authorized. The following table reflects the changes in Livent's common shares issued and outstanding for each period presented:

	Issued	Treasury	Outstanding
Balance as of December 31, 2019	146,085,696	(104,012)	145,981,684
RSU awards	256,161	—	256,161
Stock option awards	119,392	—	119,392
Net sales of treasury stock - deferred compensation plan	—	4,744	4,744
Balance as of December 31, 2020	146,461,249	(99,268)	146,361,981
RSU awards	270,775	—	270,775
Stock option awards	109,578	—	109,578
Net purchases of treasury stock - deferred compensation plan	—	(2,350)	(2,350)
Issuance of common stock	14,950,000	—	14,950,000
Balance as of December 31, 2021	161,791,602	(101,618)	161,689,984

On 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 consolidated balance sheet.

Accumulated other comprehensive 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 as of December 31, 2019	$	(48.3)	$	—	$	(48.3)
Other comprehensive income before reclassifications	3.9		—		3.9
Accumulated other comprehensive loss, net of tax as of December 31, 2020	$	(44.4)	$	—	$	(44.4)
Other comprehensive income before reclassifications	1.3		0.3		1.6
Amounts reclassified from accumulated other comprehensive loss	—		(0.1)		(0.1)
Accumulated other comprehensive loss, net of tax as of December 31, 2021	$	(43.1)	$	0.2	$	(42.9)

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1.See Note 15 for more information.

Reclassifications of accumulated other comprehensive loss

The table below provides details about the reclassifications from accumulated other comprehensive loss and the affected line items in the consolidated statement of operations for each of the periods presented.

Details about Accumulated Other Comprehensive Loss Components	Amounts Reclassified from Accumulated Other Comprehensive Loss (1)				Affected Line Item in the Consolidated Statements of Income
(in Millions)	Year ended December 31, 2021		Year ended December 31, 2019
Derivative instruments
Foreign currency contracts	$	(0.1)	$	1.3	Costs of sales
Total before tax	(0.1)		1.3
	—		(0.1)		Provision for income taxes
Amount included in net income	$	(0.1)	$	1.2
Total reclassifications for the period	$	(0.1)	$	1.2	Amount included in net income

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1.Amounts in parentheses indicate charges to the consolidated statement of operations. No amounts were reclassified for the year ended December 31, 2020. Provision for income taxes was less than $0.1 million for the year ended December 31, 2021.

Dividends

For the years ended December 31, 2021, 2020 and 2019, we paid no dividends. We do not expect to pay any dividends in the foreseeable future.