Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 101

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 101
---
 million of non-cash asset-related charges, and $96.7 million of charges to be settled in cash. As of September 30, 2025, $83.1 million of the charges to be settled in cash have been paid and all non-cash charges have been incurred. In total, we expect approximately $110 million of cash charges, including approximately $5 million during the remainder of 2025. 

22

INGEVITY CORPORATIONNotes to the Condensed Consolidated Financial StatementsSeptember 30, 2025(Unaudited)

The charges we currently expect to incur in connection with these actions are subject to a number of assumptions and risks, and actual results may differ materially. We may also incur other material charges not currently contemplated due to events that may occur as a result of, or in connection with, these actions.Other (income) charges, netNorth Charleston plant transitionOur North Charleston, South Carolina Performance Chemicals manufacturing plant has historically been co-located with a WestRock Company ("WestRock") paper mill. In May 2023, WestRock announced that it would permanently cease operating its North Charleston paper mill by August 31, 2023 and notified us that it was terminating the shared services in accordance with our operating agreement. WestRock ceased production at their North Charleston paper mill in June 2023. During 2023, we executed a transition plan, which was completed in 2024, to separate certain critical operating services WestRock had historically provided to us such as steam, water and wastewater treatment. During the three and nine months ended September 30, 2024, we incurred charges of $1.3 million and $4.9 million related to the transition plan, respectively. Restructuring and Other (Income) Charges, net Reserves The following table, inclusive of continuing and discontinued operations shows a roll forward of restructuring reserves that will result in cash spending, the majority of which relate to the Performance Chemicals repositioning.Balance atChange inCashBalance atIn millions12/31/2024 (1)Reserve (2)PaymentsOther (3)9/30/2025 (1)Severance and other employee-related costs$4.2 2.6 (5.0)— $1.8 Other charges (income)0.9 33.9 (30.4)— 4.4 Restructuring 5.1 36.5 (35.4)— 6.2