Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 1110

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 1110
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3.2 $3.0 Selling, general, and administrative expenses1.6 1.6 1.6 Interest on lease liabilitiesInterest expense, net7.3 7.3 7.5 Net lease cost (2)$33.7 $34.3 $33.4 _______________(1) Includes short-term leases and variable lease costs, which are immaterial.(2) Only on the rare occasion do we sublease our leased assets; as a result, this amount excludes sublease income which is immaterial.Maturity of Lease LiabilitiesDecember 31, 2024In millionsOperating leasesFinance leasesTotal2025$19.9 $8.3 $28.2 202615.2 8.4 23.6 202711.6 85.4 97.0 20286.7 2.4 9.1 20294.0 2.4 6.4 2030 and thereafter3.5 15.2 18.7   Total lease payments$60.9 $122.1 $183.0 Less: Interest7.2 22.1 29.3   Present value of lease liabilities (1)$53.7 $100.0 $153.7 _______________(1) As of December 31, 2024, we have zero operating lease commitments that have not yet commenced related to manufacturing and office equipment leases.Lease Term and Discount RateDecember 31,In millions, except percentages and years20242023Weighted-average remaining lease term (years)Operating leases4.04.5Finance leases10.911.9Weighted-average discount rateOperating leases5.95 %5.66 %Finance leases5.44 %7.21 %

84

IndexIngevity CorporationNotes to the Consolidated Financial StatementsDecember 31, 2024

Other InformationYears Ended December 31,In millions202420232022Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows from operating leases$21.7 $22.5 $18.8 Operating cash flows from finance leases7.3 7.3 7.5 Financing cash flows from finance leases1.0 0.7 0.9 

Note 14: Retirement Plans 

Defined Contribution PlansEligible employees may participate in our retirement