Company: NGVT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001653477-25-000091
Chunk: 24

Company: Ingevity Corp
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 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 $(0.1) million and $0.6 million at March 31, 2025 and December 31, 2024, respectively.Effect of Cash Flow Hedge Accounting on AOCIIn millionsAmount of Gain (Loss) Recognized in AOCIAmount of Gain (Loss) Reclassified from AOCI into Net income (loss)Location of Gain (Loss) Reclassified from AOCI in Net income (loss)Three Months Ended March 31,2025202420252024Cash flow hedging derivativesCurrency exchange contracts$(0.1)$— $— $— Net salesNatural gas contracts1.0 (0.4)(0.2)(0.7)Cost of salesInterest rate swap contracts(0.8)— — — Interest expense, netTotal$0.1 $(0.4)$(0.2)$(0.7)

13

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

Within the next twelve months, we expect to reclassify $1.3 million of net gains from AOCI to income, before taxes.Fair Value MeasurementsThe following information is presented for derivative assets and liabilities that are recorded in the condensed consolidated balance sheets at fair value measured on a recurring basis. There were no transfers of assets and liabilities that are recorded at fair value between Level 1 and Level 2 during the periods reported. There were no nonrecurring fair value measurements related to derivative assets and liabilities on the condensed consolidated balance sheets as of March 31, 2025, or December 31, 2024.March 31, 2025In millionsLevel 1(1)Level 2(2)Level 3(3)TotalAssets:Natural gas contracts (4)$— $1.2 $— $1.2 Currency exchange contracts (4)— 0.1 — 0.1 Total assets$— $1.3 $— $1.3 Liabilities:Natural gas contracts (6)$— $0.2 $— $0.2 Currency exchange contracts (6)— 0.2 — 0.2 Interest rate swap contracts (7)—