Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 26

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 $(0.8) million and $0.3 million as of September 30, 2025 and December 31, 2024, respectively.Interest Rate Risk ManagementDuring the third quarter of 2024, we entered into a floating-to-fixed interest rate swap to convert a notional amount of $200.0 million of the variable, Secured Overnight Financing Rate ("SOFR") based interest component of our debt to a fixed rate. In accordance with the terms of this instrument, we receive floating rate interest payments based upon one-month U.S. dollar SOFR, which was 4.13 percent as of September 30, 2025, and in return are obligated to pay interest at a fixed rate of 3.84 percent until August 2026. The fair value of the interest rate swap was an asset (liability) of $(0.3) million and $0.6 million at September 30, 2025 and December 31, 2024, respectively.Effect of Cash Flow Hedge Accounting on AOCIIn millionsAmount of Gain (Loss) Recognized in AOCIAmount of Gain (Loss) Reclassified from AOCI into Net income (loss)Location of Gain (Loss) Reclassified from AOCI in Net income (loss)Three Months Ended September 30,2025202420252024Cash flow hedging derivativesCurrency exchange contracts$0.1 $— $(0.1)$— Net salesNatural gas contracts(0.8)(0.3)0.3 (0.8)Cost of salesInterest rate swap contracts(0.2)(1.7)— — Interest expense, netTotal$(0.9)$(2.0)$0.2 $(0.8)In millionsAmount of Gain (Loss) Recognized in AOCIAmount of Gain (Loss) Reclassified from AOCI into Net income (loss)Location of Gain (Loss) Reclassified from AOCI in Net income (loss)Nine Months Ended September 30,2025202420252024Cash flow hedging derivativesCurrency exchange contracts$(0.4)$0.1 $(0.3)$— Net salesNatural gas contracts(1.2)(0.7)0.2 (2.3)Cost of salesInterest rate swap contracts(1.0)(1.7)— — Interest expense, netTotal$(2.6)$(2.3)$(