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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash provided by operating activities:      
Net income/(loss) $ 0.6 $ (16.3) [1] $ 50.2
Adjustments to reconcile net income/(loss) to cash provided by operating activities:      
Depreciation and amortization 25.1 25.0 [2] 20.9
Restructuring and other (income)/charges (1.5) 3.3 [2] 2.1
Separation-related (income)/charges 0.0 (0.3) [2] 0.9
Deferred income taxes 12.5 (6.3) [2] (0.9)
Share-based compensation 5.3 4.1 [2] 4.3
Change in investments in trust fund securities 0.6 1.0 [2] 0.1
Equity in net loss of unconsolidated affiliates 5.5 0.5 [2] 0.0
Loss on debt extinguishment 0.0 0.1 [2] 0.0
Deferred financing fee amortization 0.3 0.7 [2] 0.0
Loss on asset disposal 0.5 0.6 [2] 0.0
Changes in operating assets and liabilities:      
Trade receivables, net (19.0) 15.3 [2] 51.4
Changes in deferred compensation 1.4 0.7 [2] 0.6
Inventories (28.2) 10.1 [2] (40.6)
Accounts payable, trade and other 20.9 (39.8) [2] 10.8
Income taxes 3.0 (0.9) [2] (0.7)
Change in due to related party 0.0 0.0 [2] (23.7)
Change in prepaid and other current assets and other assets (3.7) (9.9) [2] (2.7)
Change in accrued and other current and long-term liabilities 3.1 18.4 [2] (14.6)
Cash provided by operating activities 26.4 6.3 [2] 58.1
Cash used in investing activities:      
Capital expenditures [3] (131.9) (124.0) [2] (184.3)
Investments in Livent NQSP securities (1.4) (0.6) [2] (0.4)
Proceeds from settlement of long-term supply agreement 0.0 10.0 [2] 0.0
Investments in unconsolidated affiliate (8.0) (15.0) [2] (0.8)
Other investing activities (2.0) (1.5) [2] (4.5)
Cash used in investing activities (143.3) (131.1) [2] (190.0)
Cash provided by financing activities:      
Proceeds from Revolving Credit Facility 39.5 175.5 [2] 232.0
Repayments of Revolving Credit Facility (75.1) (294.6) [2] (111.4)
Proceeds from 2025 Notes 0.0 245.8 [2] 0.0
Payments of financing fees 0.0 (8.4) [2] (0.1)
Proceeds from issuance of common stock - incentive plans 1.5 0.8 [2] 0.0
Payments of underwriting fees and expenses - Offering (9.4) 0.0 [2] 0.0
Proceeds from Offering 261.6 0.0 [2] 0.0
Net purchases of treasury stock - Livent NQSP (0.1) 0.0 [2] 0.0
Cash provided by financing activities 218.0 119.1 [2] 120.5
Effect of exchange rate changes on cash and cash equivalents 0.3 0.5 [2] (0.1)
Increase/(decrease) in cash and cash equivalents 101.4 (5.2) [2] (11.5)
Cash and cash equivalents, beginning of period 11.6 [2] 16.8 [2] 28.3
Cash and cash equivalents, end of period 113.0 11.6 [2] 16.8 [2]
Supplemental disclosure for cash flow:      
Income taxes paid, net of refunds [4] 4.1 2.6 38.5
Cash payments for interest, net [3] 13.3 5.6 4.3
Cash payments for Restructuring and other charges 5.3 7.4 4.1
Cash (receipts)/payments for Separation-related charges [5] 2.0 (0.8) 9.9
Accrued capital expenditures 32.5 15.1 34.0
Operating lease right-of-use assets and lease liabilities recorded for ASC 842 2.1 0.8 16.1
Accrued investment in unconsolidated affiliate $ 0.0 $ 6.3 $ 0.0
[1] As adjusted for the adoption of ASU 2020-06 using the full retrospective method.
[2] As adjusted for the adoption of ASU 2020-06 using the full retrospective method.
[3] For the year ended December 31, 2021 and December 31, 2020 $15.4 million and $12.0 million of interest was capitalized, respectively. All of the interest related to our Revolving Credit Facility was capitalized for the year ended December 31, 2019.
[4] The year ended December 31, 2021 includes $1.7 million of refunds relating to U.S. state taxes and foreign taxes. The year ended December 31, 2020 includes refunds of $1.6 million and $1.9 million from FMC related to the Company's 2019 and 2018 federal income tax returns, respectively.
[5] The year ended December 31, 2020 includes $2.0 million gain on settlement of long-term supply agreement. The year ended December 31, 2019 includes $4.6 million paid to FMC related to the Separation steps.