Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 132

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 132
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 compared to the prior year period is primarily due to reduced capital expenditures of $12.5 million. 

Capital expenditure categoriesSix Months Ended June 30,In millions20252024Maintenance$14.4 $21.2 Safety, health and environment5.0 2.0 Growth and cost improvement2.8 11.5 Total capital expenditures$22.2 $34.7 

Cash flows provided by (used in) financing activities

Cash used in financing activities in the six months ended June 30, 2025, was $74.0 million and was primarily driven by payments on our revolving credit facility and other borrowings of $229.3 million, partially offset by proceeds from our revolving credit facility and other borrowings of $158.5 million. 

Cash provided by financing activities in the six months ended June 30, 2024 was $33.7 million and was primarily driven by proceeds from our revolving credit facility and other borrowings of $120.2 million, partially offset by payments on our revolving credit facility and other borrowings of $83.1 million.  

New Accounting Guidance

Refer to Note 2 for a full description of recent accounting pronouncements including the respective expected dates of adoption and expected effects on our Condensed Consolidated Financial Statements.

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Critical Accounting Policies and Estimates

Our Condensed Consolidated Financial Statements are prepared in conformity with GAAP. The preparation of our financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses. We have described our accounting policies in Note 2 to our consolidated financial statements included in our 2024 Annual Report. We have reviewed these accounting policies, identifying those that we believe to be critical to the preparation and understanding of our financial statements. Critical accounting policies are central to our presentation of results of operations and financial condition and require management to make estimates and judgments on certain matters. We base our estimates and judgments on historical experience, current conditions and other reasonable factors. For a description of our critical accounting policies and estimates, refer to Part II, Item 7, Critical Accounting Policies and Estimates in our 2024 Annual Report. Our critical accounting policies have not substantially changed from those described in the 2024 Annual Report. 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Foreign currency exchange rate risk

We have foreign-based operations, primarily in Europe, South America and Asia, which accounted for approximately