Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 90

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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 $23.0 $22.7 Based on the current carrying values of intangible assets, estimated pre-tax amortization expense for the next five years is as follows: $7.4 million for the remainder of 2025, 2026 - $29.7 million, 2027 - $29.7 million, 2028 - $29.7 million, and 2029 - $29.7 million. The estimated pre-tax amortization expense may fluctuate due to changes in foreign currency exchange rates.

Note 8: Financial Instruments and Risk Management

Cash Flow HedgesForeign Currency Exchange Risk ManagementAs of September 30, 2025, there were $1.8 million open foreign currency derivative contracts. The fair value of the designated foreign currency hedge contracts was a net asset (liability) of $(0.1) million and $0.1 million at September 30, 2025 and December 31, 2024, respectively.

14

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

Commodity Price Risk ManagementAs of September 30, 2025, we had 1.5 million mmBTUS (millions of British Thermal Units) in open natural gas derivative contracts, designated as cash flow hedges. As of September 30, 2025, open natural gas derivative contracts hedge a portion of forecasted transactions until September 2026. The fair value of the open natural gas derivative contracts was a net asset (liability) of $(0.8) million and $0.3 million as of September 30, 2025 and December 31, 2024, respectively.Interest Rate Risk ManagementDuring the third quarter of 2024, we entered into a floating-to-fixed interest rate swap to convert a notional amount of $200.0 million of the variable, Secured Overnight Financing Rate ("SOFR") based interest component of our debt to a fixed rate. In accordance with the terms of this instrument, we receive floating rate interest payments based upon one-month U.S. dollar SOFR, which was 4.13 percent as of September 30, 2025, and in return are obligated to pay interest at a fixed rate of 3.84 percent until August 2026. The fair value of the interest rate swap was an asset (liability) of $(0.3) million and $0.6 million at September