Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 1092

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 1092
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 reporting unit exceeded its fair value, resulting in a non-cash goodwill impairment charge of $349.1 million, which represented all of the goodwill within the Performance Chemicals' reportable segment. The charge was is included within Goodwill impairment charge on the consolidated statements of operations for the year ended December 31, 2024. Specific to our long-lived assets, we determined that the undiscounted cash flows were in excess of the carrying values and therefore concluded that no impairment existed. Other Intangible AssetsIn millionsCustomer contracts and relationshipsBrands (1)Developed TechnologyTotalGross Asset ValueDecember 31, 2022$388.5 $89.2 $88.5 $566.2 Foreign currency translation8.0 3.4 3.2 14.6 December 31, 2023396.5 92.6 91.7 580.8 Retirements (2)(129.0)— (1.9)(130.9)Foreign currency translation(2.6)(1.2)(1.1)(4.9)December 31, 2024$264.9 $91.4 $88.7 $445.0 Accumulated AmortizationDecember 31, 2022$(113.8)$(23.9)$(23.7)$(161.4)Amortization (4)(63.5)(5.7)(10.1)(79.3)Foreign currency translation(2.1)(0.7)(1.2)(4.0)December 31, 2023(179.4)(30.3)(35.0)(244.7)Amortization (4)(38.9)(5.5)(9.9)(54.3)Retirements (2)129.0 — 1.9 130.9 Foreign currency translation0.9 0.4 0.6 1.9 December 31, 2024$(88.4)$(35.4)$(42.4)$(166.2)Other intangibles, net (3)$176.5 $56.0 $46.3 $278.8 _______________(1) Represents trademarks, trade names, and know-how.(2) As a result of the Performance Chemicals repositioning, as further described in Note 15, we retired certain