Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 172

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 172
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 weighted average cost per share of $56.09. At September 30, 2025, $328.4 million remained unused under the 2022 Authorization.

During the three and nine months ended September 30, 2024, we repurchased no common stock. 

Capital Expenditures

Projected 2025 capital expenditures are $50-70 million. We have no material commitments associated with these projected capital expenditures as of September 30, 2025.

49

Cash flow comparison of the Nine Months Ended September 30, 2025 and 2024 Nine Months Ended September 30,In millions20252024Net cash provided by (used in) operating activities$234.1 $64.1 Net cash provided by (used in) investing activities(42.4)(51.5)Net cash provided by (used in) financing activities(168.8)27.4 

Cash flows provided by (used in) operating activities

Cash provided by operating activities, inclusive of continuing and discontinued operations, consists of net income (loss) adjusted for non-cash items including the cash impact from changes in operating assets and liabilities (i.e., working capital) and totaled $234.1 million for the nine months ended September 30, 2025, which was inclusive of an approximately $40 million benefit related to discontinued operations.

Cash provided by operating activities for the nine months ended September 30, 2025, when compared to the nine months ended September 30, 2024, increased by $170.0 million. This increase was driven by a decrease in CTO resale cash outflows of $51.2 million, a decrease in CTO supply contract termination cash outflows of $50.0 million, a net reduction in trade working capital of $19.0 million (including accounts receivable, inventory, and accounts payable),  increased cash earnings of $17.0 million, a decrease in tax payments of $16.9 million,lower cash interest paid of $10.3 million, and decreased spending on restructuring initiatives of $8.5 million. Partially offsetting these cash inflows was increased employee compensation payments of $2.9 million.

Cash flows provided by (used in) investing activities

Cash used in investing activities, inclusive of continuing and discontinued operations, in the nine months ended September 30, 2025 was $42.4 million and was primarily driven by capital expenditures of $34.1 million, and a strategic investment of