Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 37

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 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 Other (income) charges, net— — — — — Restructuring and Other (income) charges, net reserves$5.1 36.5 (35.4)— $6.2 _______________(1) Included in "Accrued expenses" on the condensed consolidated balance sheets. (2) Includes severance and other employee-related costs, exited leases, CTO supply contract terminations and other miscellaneous exit costs. Any asset write-downs including accelerated depreciation and impairment charges are not included in the above table.(3) Primarily foreign currency translation adjustments.

Note 12: Income Taxes

The effective tax rates, including discrete items, were as follows:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Effective tax rate (1)34.4 %12.0 %(94.8)%14.3 %_______________(1) The increase in the three months ended September 30, 2025, was due to a material discrete benefit booked in Q3 2024, in addition to the significant decrease in the foreign-derived intangible income deduction as a result of U.S. tax reform enacted in Q3 2025. The decrease in the effective rate in the nine months ended September 30, 2025, was primarily due to the goodwill impairment charge within our Advanced Polymers Technologies reportable segment, resulting in an overall book loss with a net tax liability.  We determine our interim tax provision using an Estimated Annual Effective Tax Rate methodology ("EA