Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 18

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 $333.8 $912.5 $936.8 _______________(1) The Performance Chemicals reportable segment primarily represents the previously reported road technologies product line subsequent to the Divestiture being reclassified to discontinued operations. Refer to Note 16 for more information. The following table presents our Net sales disaggregated by geography, based on the delivery address of our customer.Three Months Ended September 30,Nine Months Ended September 30,In millions2025202420252024North America (1)$205.1 $191.8 $534.4 $524.7 Asia Pacific (1)73.3 82.2 216.6 233.7 Europe, Middle East, and Africa41.4 42.9 126.8 138.9 South America13.3 16.9 34.7 39.5 Net sales$333.1 $333.8 $912.5 $936.8 _______________(1) Countries with Net sales in excess of 10 percent of consolidated Net sales for the three and nine months ended September 30, 2025, are the U.S., which totaled $181.4 million and $469.2 million, respectively, and China, which totaled $39.6 million and $112.5 million, respectively. Countries with Net sales in excess of 10 percent of consolidated Net sales for the three and nine months ended September 30, 2024 are the U.S., which totaled $168.2 million and $465.9 million, respectively, and China, which totaled $47.2 million and $123.2 million, respectively. 

8

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

Contract BalancesThe contract assets primarily relate to our rights to consideration for products produced but not billed at the reporting date. The contract assets are recognized as accounts receivables when we have an enforceable right to payment for performance completed to date and the customer has been billed. Contract liabilities represent obligations to transfer goods to a customer for which we have received consideration from our customer. For all periods presented, we had no contract liabilities.The following table provides information about contract assets from contracts with certain customers. Contract AssetSeptember 30,In millions20252024Beginning balance$6.5 $11.2 Contract asset additions10.9 10.1