Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 39

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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Discrete items:Restructuring and other (income) charges, net (1)10.1 2.5 3.4 0.8 (Gain) loss on strategic investments (2)2.5 0.6 2.1 0.5 Goodwill impairment (3)183.8 5.1 306.6 50.1 Proxy contest charges (4)8.2 1.9 — — Other tax only discrete items— (2.2)— 5.7 Total discrete items204.6 7.9 312.1 57.1 Continuing operations, before discrete items$167.9 $42.7 $147.5 $33.5 EAETR (5)25.4 %22.7 %_______________(1) See Note 11 for further information.(2) See Note 4 for further information. (3) See Note 7 for further information. (4) See Note 14 for further information. (5) Increase in EAETR for the three and nine months ended September 30, 2025, as compared to September 30, 2024, primarily reflects a shift in the projected mix of earnings across jurisdictions with varying tax rates, most notably in the U.S. Additionally, the foreign-derived intangible income deduction decreased significantly in 2025 compared to 2024 as a result of the One Big Beautiful Bill Act (OBBB) signed into law on July 4, 2025, which allowed immediate deductibility of previously amortizable expenses. At September 30, 2025 and December 31, 2024, we had deferred tax assets of $12.1 million and $11.0 million, respectively, resulting from certain historical net operating losses from our Brazil and U.S. state tax credits for which a valuation allowance has been established. The ultimate realization of these deferred tax assets depends on the generation of future taxable income during the periods in which these net operating losses and tax credits are available to be used. In evaluating the realizability of these deferred tax assets, we consider projected future taxable income and tax planning strategies in making our assessment. As of September 30, 2025, we cannot objectively assert that these deferred tax assets are more likely than not to be realized and therefore we have maintained a valuation allowance. We intend to continue maintaining a valuation 

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INGEVITY