Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 38

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 and $3.6 million, respectively. Restructuring and Other (Income) Charges, net Reserves The following table 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)6/30/2025 (1)Severance and other employee-related costs$4.2 2.5 (4.7)— $2.0 Other charges (income)0.9 24.1 (18.4)6.6 Restructuring 5.1 26.6 (23.1)— 8.6 Other (income) charges, net— — — — — Restructuring and Other (income) charges, net reserves$5.1 26.6 (23.1)— $8.6 _______________(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 June 30,Six Months Ended June 30,2025202420252024Effective tax rate (1)(2.7)%15.2 %(8.7)%16.4 %_______________(1) The decrease in the effective rate for the three and six months ended June 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 (“EAETR”). The EAETR is applied to the year-to-date ordinary income, exclusive of discrete items. The tax effects of discrete items are then included to arrive at the total reported interim tax provision.The determination of the EAETR is based upon a number of estimates, including the estimated annual pre-tax ordinary income in each tax jurisdiction in which we operate. As our projections of ordinary income change throughout the year, the EAETR