Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 1108

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 1108
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 of market prevailing conditions and other factors, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.During the year ended December 31, 2024, we repurchased zero common stock. At December 31, 2024, $353.4 million remained unused under our Board-authorized repurchase program. During the years ended December 31, 2023 and 2022, we repurchased $92.1 million (inclusive of $0.8 million in excise tax) and $145.2 million in common stock, representing 1,269,373 and 2,112,463 shares of our common stock at a weighted average cost per share of $71.93 and $68.73, respectively.

82

IndexIngevity CorporationNotes to the Consolidated Financial StatementsDecember 31, 2024

Note 13: Leases

We have both operating and finance leases, with the majority being operating lease agreements related to rail cars, tanks, equipment, and real estate. Supplemental consolidated balance sheet information related to our leases is as follows:December 31,In millionsFinancial Statement Caption20242023AssetsOperating lease assets, net (1)Operating lease assets, net$50.4 $67.1 Finance lease assets, net (2)Property, plant, and equipment, net50.2 55.0 Finance lease assets, net (2)Other assets, net— 0.1 Total lease assets$100.6 $122.2 LiabilitiesCurrentOperating lease liabilities (3)Current operating lease liabilities$16.9 $18.7 Finance lease liabilitiesNotes payable and current maturities of long-term debt1.1 1.1 NoncurrentOperating lease liabilitiesNoncurrent operating lease liabilities36.8 48.6 Finance lease liabilitiesLong-term debt including finance lease obligations98.9 100.0 Total lease liabilities$153.7 $168.4 _______________(1) Operating lease assets, net are recorded net of accumulated amortization of $49.9 million and $40.7 million as of December 31, 2024, and 2023, respectively.(2) Finance lease assets, net are recorded net of accumulated amortization in Property, plant, and equipment, net and Other assets, net of $81.4 million and $1