Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 84

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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 our condensed consolidated statement of operations. 

Note 6: Property, Plant, and Equipment, netIn millionsJune 30, 2025December 31, 2024Machinery and equipment$1,325.4 $1,296.4 Buildings and leasehold improvements231.1 224.3 Land and land improvements26.4 26.2 Construction in progress65.1 68.9 Total cost$1,648.0 $1,615.8 Less: accumulated depreciation(993.4)(956.9)Property, plant, and equipment, net$654.6 $658.9 

11

INGEVITY CORPORATIONNotes to the Condensed Consolidated Financial StatementsJune 30, 2025(Unaudited)

Note 7: Goodwill and Other Intangible Assets, net

GoodwillReporting UnitsIn millionsPerformance MaterialsPerformance ChemicalsAdvanced Polymer TechnologiesTotalBalance as of December 31, 2024 (1)$4.3 $— $170.9 $175.2 Foreign currency translation— — 12.9 12.9 Goodwill impairment charge— — (183.8)(183.8)Balance as of June 30, 2025$4.3 $— $— $4.3 _______________(1) Includes accumulated impairment losses of $349.1 million related to the Performance Chemicals reportable segment.Goodwill Impairment Charge - Advanced Polymer TechnologiesDuring the second quarter of 2025, the announcements and subsequent modifications of international tariffs escalated global trade tensions and contributed to increased consumer uncertainty, which negatively impacted parts of our businesses, particularly Advanced Polymer Technologies (“APT”). As a result, we conducted an analysis of the APT reporting unit’s goodwill, intangible assets, and long-lived assets. This analysis incorporated revised expectations regarding the pace and strength of industrial demand recovery in key markets. In addition, the macroeconomic changes experienced during the quarter contributed to unfavorable movements in key valuation inputs, including an increase in the risk-free rate used in calculating the discount rate. Our analysis included significant assumptions such as the revenue growth rate, earnings before interest, taxes, depreciation, and amortization ("EBITDA") margin, and discount rate, which are judgmental. Variations in any assumptions could result in materially different calculations of fair value. Based on the results of the quantitative analysis, we concluded that the carrying value of the APT