Supplemental Information (Tables)

3 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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)	March 31, 2020		December 31, 2019
Prepaid and other current assets
Argentina government receivable ⁽¹⁾	$	8.6	$	7.8
Tax related items	16.1		14.1
Other receivables	10.6		9.9
Prepaid expenses	8.4		9.2
Bank Acceptance Drafts ⁽²⁾	2.7		7.4
Other current assets	4.3		3.4
Total	$	50.7	$	51.8



(in Millions)	March 31, 2020		December 31, 2019
Other assets
Argentina government receivable ⁽¹⁾	$	58.0	$	55.0
Advance to contract manufacturers ⁽³⁾	15.5		15.9
Capitalized software, net	1.8		1.1
Prepayment associated with long-term supply agreement ⁽⁴⁾	10.0		10.0
Tax related items ⁽⁵⁾	5.2		3.6
Other assets	6.4		5.9
Total	$	96.9	$	91.5

____________________

(1)

We have various subsidiaries that conduct business in Argentina. At March 31, 2020 and December 31, 2019, $39.1 million and $38.0 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)	We record deferred charges for certain contract manufacturing agreements which we amortize over the term of the underlying contract.


(4)	See Note 12 for further discussion about Nemaska arrangement.

(5)

Represents an offsetting non-current deferred asset of $3.9 million relating to specific uncertain tax positions and other tax related items.

Schedule of Accrued and Other Liabilities



(in Millions)	March 31, 2020		December 31, 2019
Accrued and other current liabilities
Restructuring reserves	$	3.3	$	3.3
Retirement liability - 401K	0.6		2.7
Accrued payroll	6.0		6.7
Severance related	1.7		—
Environmental reserves, current	0.5		0.5
Other accrued and other current liabilities ⁽¹⁾	21.7		23.2
Total	$	33.8	$	36.4



(in Millions)	March 31, 2020		December 31, 2019
Other long-term liabilities
Asset retirement obligations	$	0.2	$	0.2
Contingencies related to uncertain tax positions ⁽²⁾	5.9		4.1
Deferred compensation plan obligation	2.2		2.5
Self-insurance reserves	1.9		1.9
Other long-term liabilities	1.3		1.3
Total	$	11.5	$	10.0

____________________


(1)	Amounts include accrued capital expenditures related to our expansion projects.

(2)

At March 31, 2020, we have recorded a liability for uncertain tax positions of $4.4 million and a $1.5 million indemnification liability to FMC for assets where the offsetting uncertain tax position is with FMC.