Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 1122

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 1122
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 LLC (“OM”), Ozark Logistics, LLC (“OL” and, together with OM, “Ozark Materials”) and Ozark Holdings, Inc. (“Seller”), we completed the acquisition of all of the issued and outstanding limited liability company membership interests of Ozark Materials for an aggregate purchase price of $344.5 million (the "Acquisition"). The purchase price allocation was finalized in the third quarter of 2023, with no material adjustments recorded. The Acquisition has been integrated into our Performance Chemicals reportable segment and is included within our road technologies product line. We funded the Acquisition through a combination of borrowings under our existing credit facilities and cash on hand.The Acquisition is not considered significant to our Consolidated Financial Statements for all periods presented; therefore, proforma results of operations have not been presented.Acquisition and other-related (income) costsCosts incurred to complete and integrate acquisitions and other strategic investments are expensed as incurred on our consolidated statement of operations. The following table summarizes the costs incurred associated with these combined activities.Years Ended December 31,In millions202420232022Legal and professional service fees$0.3 $3.6 $5.0   Acquisition-related costs0.3 3.6 5.0 Inventory fair value step-up amortization (1)— 0.9 0.9   Acquisition and other-related (income) costs, net$0.3 $4.5 $5.9 _______________(1) Fair value of finished goods inventories acquired included a step-up in the value of $1.8 million, of which $0.9 million was expensedduring each of the years ended December 31, 2023 and 2022, respectively. The expense is included within "Cost of sales" on the consolidatedstatement of operations. Inventories are accounted for on a FIFO basis of accounting.

93

IndexIngevity CorporationNotes to the Consolidated Financial StatementsDecember 31, 2024

Note 17: Income Taxes 

Domestic and foreign components of Income (loss) before income taxes are shown below:Years Ended December 31,In millions202420232022Domestic$(473.6)$(55.4)$200.0 Foreign(62.0)45.3 69.6 Income (loss) before income taxes$(535.6)$(10.1)$269.6 The provision (benefit) for income taxes consisted of:Years