Company: NGVT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001653477-25-000091
Chunk: 40

Company: Ingevity Corp
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 March 31, 2024, inventory charges represent lower of cost or market charges associated with the Performance Chemicals repositioning. These charges were not allocated in the measurement of Performance Chemicals reportable segment profitability used by our CODM. Amounts are included in "Cost of sales" on the condensed consolidated statements of operations.(6) For the three months ended March 31, 2024, charges relate to the Performance Chemicals reportable segment. Refer to Note 11 for more information.(7) We exclude gains and losses from strategic investments from our segment results, as well as our non-GAAP financial measures, because we do not consider such gains or losses to be directly associated with the operational performance of the segment. We believe that the inclusion of such gains or losses would impair the factors and trends affecting the historical financial performance of our reportable segments. We continue to include undistributed earnings or loss, distributions, amortization or accretion of basis differences, and other-than-temporary impairments for equity method investments that we believe are directly attributable to the operational performance of such investments, in our reportable segment results. Refer to Note 4, under the section: Strategic Investments, for more information.Three Months Ended March 31,In millions20252024Performance Materials$— $— Performance Chemicals— 4.8 Advanced Polymer Technologies— — (Gain) loss on strategic investments$— $4.8 

24

INGEVITY CORPORATIONNotes to the Condensed Consolidated Financial StatementsMarch 31, 2025(Unaudited)

(8) Charges represent legal and other professional service fees as well as incremental proxy solicitation costs related to a proxy contest. Depreciation and amortizationThree Months Ended March 31,In millions20252024Performance Materials$9.9 $9.6 Performance Chemicals7.3 12.4 Advanced Polymer Technologies7.7 7.6 Total depreciation and amortization$24.9 $29.6 Capital expendituresThree Months Ended March 31,In millions20252024Performance Materials$5.1 $7.3 Performance Chemicals1.2 6.2 Advanced Polymer Technologies3.7 3.1 Total capital expenditures$10.0 $16.6 Total assets In millionsMarch 31, 2025December 31, 2024Performance Materials$850.9 $824.3 Performance Chemicals 556