Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 1310

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1
Chunk 1310
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income) charges, net.

This non-GAAP measure is not intended to replace the presentation of financial results in accordance with GAAP and investors should consider the limitations associated with these non-GAAP measures, including the potential lack of comparability of these measures from one company to another. A reconciliation of Adjusted EBITDA to net income is set forth within this section.

Reconciliation of Net Income (Loss) to Adjusted EBITDAYears Ended December 31,In millions202420232022Net income (loss) (GAAP)$(430.3)$(5.4)$211.6 Interest expense97.8 93.3 61.8 Interest income(7.7)(6.3)(7.5)Provision (benefit) for income taxes(105.3)(4.7)58.0 Depreciation and amortization (1)108.3 122.8 108.8 Restructuring and other (income) charges, net (2)186.2 170.2 13.8 Goodwill impairment charge (3)349.1 — — Acquisition and other-related costs (4)0.3 4.5 5.9 Loss on CTO resales (5)52.7 22.0 — CTO supply contract termination charges (6)100.0 — — (Gain) loss on strategic investments (7)11.4 (19.3)— Pension and postretirement settlement and curtailment charges (income), net (8)0.2 — 0.2 Adjusted EBITDA (Non-GAAP)$362.7 $377.1 $452.6 

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(1) Refer to Note 19 for more information. 

(2) We regularly perform strategic reviews and assess the return on our operations, which sometimes results in a plan to restructure the business. These costs are excluded from our reportable segment results and for the purposes of calculating our non-GAAP financial performance measures. Refer to Note 15 for more information on the charges. 

(3) Refer to Note 8 for more information.

(4) Charges represent costs incurred to complete and integrate acquisitions and other strategic investments and include the expensing of the inventory fair value step-up resulting from the application of purchase accounting for acquisitions and certain legal and professional fees associated with the completion of acquisitions and strategic investments. Refer