Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 40

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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5 0.6 4.7 1.1 Goodwill impairment (3)183.8 5.1 349.1 57.0 Proxy contest charges (4)8.2 1.9 — — Other tax only discrete items— (0.6)— (1.4)Total discrete items228.7 15.1 428.6 74.2 Consolidated operations, before discrete items$112.8 $25.2 $22.1 $7.4 EAETR (5)22.3 %34.5 %_______________(1) See Note 11 for further information. For the three and six months ended June 30, 2024, the charge includes zero and $2.5 million of lower of cost or market charges associated with the Performance Chemicals repositioning. Amounts are included in "Cost of sales" on the condensed consolidated statements of operations.(2) See Note 4 for further information. (3) See Note 7 for further information. (4) See Note 14 for further information. (5) Decrease in EAETR for the three and six months ended June 30, 2025, as compared to June 30, 2024, primarily reflects a shift in the projected mix of earnings across jurisdictions with varying tax rates, most notably in the U.S. Additionally, the increase in U.S. taxable income in 2025 is driving an increased benefit from the foreign-derived intangible income deduction as compared to 2024. The EAETR tax percentage shown for three and six months ended June 30, 2024 may not precisely recalculate due to rounding.At June 30, 2025 and December 31, 2024, we had deferred tax assets of $12.0 million and $11.0 million, respectively, resulting from certain historical net operating losses from our Brazil and U.S. state tax credits for which a valuation allowance has been established. The ultimate realization of these deferred tax assets depends on the generation of future taxable income during the periods in which these net operating losses and tax credits are available to be used. In evaluating the realizability of these deferred tax assets, we consider projected future taxable income and tax planning strategies in making our assessment. As of June 30, 2025, we cannot objectively assert that these deferred tax assets are more likely than not to be realized and