Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 39

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 will change period-to-period. The tax effects of discrete items are recognized in the tax provision in the period they occur. Depending on various factors, such as the item’s significance in relation to total income and the rate of tax applicable in the jurisdiction to which it relates, discrete items in any quarter may materially impact the reported effective tax rate. As a global enterprise, our tax expense may be impacted by changes in tax rates or laws, the finalization of tax audits and reviews, as well as other factors. As such, there may be significant volatility in interim tax provisions.

21

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

The below table provides a reconciliation between our reported effective tax rates and the EAETR.Three Months Ended June 30,20252024In millions, except percentagesBefore taxTaxEffective tax rate % impactBefore taxTaxEffective tax rate % impactConsolidated operations$(142.7)$3.8 (2.7)%$(334.6)$(50.9)15.2 %Discrete items:Restructuring and other (income) charges, net (1)21.9 5.2 10.0 2.4 (Gain) loss on strategic investments (2)2.5 0.6 (0.1)— Goodwill impairment (3)183.8 5.1 349.1 57.0 Proxy contest charges (4)0.3 0.1 — — Other tax only discrete items— (0.2)— (0.5)Total discrete items208.5 10.8 359.0 58.9 Consolidated operations, before discrete items$65.8 $14.6 $24.4 $8.0 EAETR (5)22.2 %33.5 %Six Months Ended June 30,20252024In millions, except percentagesBefore taxTaxEffective tax rate % impactBefore taxTaxEffective tax rate % impactConsolidated operations$(115.9)$10.1 (8.7)%$(406.5)$(66.8)16.4 %Discrete items:Restructuring and other (income) charges, net (1)34.2 8.1 74.8 17.5 (Gain) loss on strategic investments (2)2.