Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 58

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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, compared to the prior year quarter, primarily driven by an increase within our Performance Materials reportable segment. 

Six Months Ended June 30, 2025 vs. 2024 

Research and technical expenses as a percentage of Net sales was 2.4 percent and 1.9 percent for the six months ended June 30, 2025 and 2024, respectively. Research and technical expenses as a percentage of Net sales increased due to lower sales. Overall, Research and technical expenses increased by $1.4 million, compared to the prior year quarter, driven by a $2.4 million increase primarily within our Performance Materials reportable segment. The increase was partially offset by approximately $1.0 million in cash savings realized from the Performance Chemicals repositioning actions initiated in 2023.

33

Restructuring and other (income) charges, net

Three and Six Months Ended June 30, 2025 vs. 2024 

Three Months Ended June 30,Six Months Ended June 30,In millions2025202420252024Work force reductions and other $9.7 $— $10.9 $— Performance Chemicals repositioning12.2 10.0 23.3 72.3 Restructuring charges$21.9 $10.0 $34.2 $72.3 North Charleston plant transition— 3.1 — 3.6 Other (income) charges, net$— $3.1 $— $3.6 Restructuring and other (income) charges, net (1)$21.9 $13.1 $34.2 $75.9 _______________(1) See Note 11 for more information. 

Goodwill impairment charge

Three and Six Months Ended June 30, 2025 vs. 2024 

Goodwill impairment charge of $183.8 million for the three and six months ended June 30, 2025 within our Advanced Polymer Technologies reportable segment. Goodwill impairment charge of $349.1 million for the three and six months ended June 30, 2024 within our Performance Chemicals reportable segment. See Note 7 for more information.

Acquisition-related costs

Three and Six Months Ended June 30, 2025 vs. 2024 

Acquisition-related (income) costs were zero for the three and six months ended