Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 294

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 6
Chunk 294
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 $— $— $15.9 Total liabilities$15.9 $— $— $15.9 In millionsLevel 1 (1)Level 2 (2)Level 3 (3)TotalDecember 31, 2023Assets:Deferred compensation plan investments (4)$3.0 $— $— $3.0 Total assets$3.0 $— $— $3.0 Liabilities:Deferred compensation arrangement (4)$15.5 $— $— $15.5 Total liabilities$15.5 $— $— $15.5 _______________(1) Quoted prices in active markets for identical assets.(2) Quoted prices for similar assets and liabilities in active markets.(3) Significant unobservable inputs.(4) Consists of a deferred compensation arrangement through which we hold various investment securities recognized on our consolidated balance sheets. Both the asset and liability related to investment securities are recorded at fair value and are included within "Other assets" and "Other liabilities" on the consolidated balance sheets, respectively. In addition to the investment securities, we also had company-owned life insurance related to the deferred compensation arrangement recorded at cash surrender value in "Other assets" of $16.5 million and $14.9 million at December 31, 2024 and 2023, respectively.

68

IndexIngevity CorporationNotes to the Consolidated Financial StatementsDecember 31, 2024

Nonrecurring Fair Value MeasurementsThere were no nonrecurring fair value measurements on the consolidated balance sheetsduring the years ended December 31, 2024 and 2023.Strategic InvestmentsEquity Method InvestmentsThe aggregate carrying value of all strategic equity method investments was $15.4 million and $16.0 million at December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, respectively, we had approximately $5.3 million and $5.6 million of unfunded commitments, associated with a venture capital fund investment accounted for under the equity method of accounting, which we anticipate will be paid over a period of 10 years.During the first quarter of 2023, we sold a strategic equity method investment for $31.5 million, resulting in a $19.3 million gain, recorded within "Other (income) expense, net" on the