Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 81

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 81
---
 arrangement recorded at cash surrender value in "Other assets" of $17.3 million and $16.5 million at June 30, 2025 and December 31, 2024, respectively.

9

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

Nonrecurring Fair Value MeasurementsThere were no nonrecurring fair value measurements on the condensed consolidated balance sheets during the periods ended June 30, 2025, and December 31, 2024. Strategic InvestmentsEquity Method InvestmentsThe aggregate carrying value of all strategic equity method investments totaled $15.9 million and $15.4 million at June 30, 2025 and December 31, 2024, respectively. As of June 30, 2025, we had approximately $4.6 million of unfunded commitments associated with a venture capital fund investment accounted for under the equity method of accounting. We anticipate this will be paid over a period of 10 years, beginning from the fourth quarter of 2022. For the three and six months ended June 30, 2024, the company recognized a $0.1 million gain related to the sale of an equity method investment. There were no adjustments to the carrying value of equity method investments for impairment for the periods ended June 30, 2025 and December 31, 2024, respectively. Measurement Alternative InvestmentsThe aggregate carrying value of all measurement alternative investments where fair value is not readily determinable totaled $69.4 million and $71.9 million at June 30, 2025 and December 31, 2024, respectively. During the second quarter of 2025 and the first quarter of 2024, the company identified trigger events indicating that certain investments being accounted for under the measurement alternative may be impaired. For the three and six months ended June 30, 2025, the company recognized an impairment of $2.5 million recorded in "Other (income) expense, net" on the condensed consolidated statements of operations. For the three and six months ended June 30, 2024, the company recognized an impairment of zero and $4.8 million, respectively, recorded in "Other (income) expense, net" on the condensed consolidated statements of operations.Restricted Investment Our restricted investment is a trust managed in order to secure repayment of the finance lease obligation associated with our Performance Materials' Wickliffe, Kentucky manufacturing site at maturity. The trust,