Company: NGVT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001653477-25-000091
Chunk: 38

Company: Ingevity Corp
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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BITDA enables the CODM to compare each business and make informed and consistent resource allocation decisions.Three Months Ended March 31,In millions20252024Segment EBITDA (1)(2)Performance Materials$79.1 $78.0 Performance Chemicals(0.3)(10.6)Advanced Polymer Technologies12.5 9.5 Total Segment EBITDA (1)(2)$91.3 $76.9 Interest expense, net(19.4)(22.3)(Provision) benefit for income taxes(6.3)15.9 Depreciation and amortization(24.9)(29.6)Restructuring and other income (charges), net (3)(12.3)(62.8)Acquisition and other-related income (costs), net (4)— (0.3)Inventory charges (5)— (2.5)Loss on CTO resales (6)— (26.5)Gain (loss) on strategic investments (7)— (4.8)Proxy contest charges (8)(7.9)— Net income (loss) $20.5 $(56.0)_______________(1) Segment EBITDA is defined as segment net sales less segment operating expenses (segment operating expenses consist of costs of sales, selling, general and administrative expenses, research and technical expenses, other (income) expense, net, excluding depreciation and amortization). We have excluded the following items from segment EBITDA: interest expense associated with corporate debt facilities, interest income, income taxes, depreciation, amortization, restructuring and other income (charges), net, inventory lower of cost or market charges associated with restructuring actions, goodwill impairment charges, acquisition and other-related income (costs), gain (loss) on sale of strategic investments, loss on CTO resales, CTO supply contract termination charges, proxy contest charges, and pension and postretirement settlement and curtailment income (charges), net.

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INGEVITY CORPORATIONNotes to the Condensed Consolidated Financial StatementsMarch 31, 2025(Unaudited)

(2) Segment expenses included within the primary measure used by our CODM are included within the below table.Three Months Ended March 31,20252024In millions, except per share dataPMPCAPTPMPCAPTNet sales (i)$146.8 $95.0 $42.2 $145.1 $147.0