Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 1193

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 1193
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 customer contract and relationships, and developed technology finite-lived intangible assets. (3) The weighted average amortization period remaining for all intangibles is 10.7 years, while the weighted average amortization period remaining for customer contracts and relationships, brands, and developed technology is 11.8 years, 10.4 years, and 7.0 years, respectively. (4) As a result of the Performance Chemicals repositioning, as further described in Note 15, we accelerated the amortization of certain customer contract and relationship finite-lived intangible assets. This resulted in $22.1 million and $37.4 million of additional expense for the years ended December 31, 2024 and 2023, which is included in Restructuring and other (income) charges, net within the consolidated statements of operations.

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IndexIngevity CorporationNotes to the Consolidated Financial StatementsDecember 31, 2024

Intangible assets subject to amortization were allocated among our business segments as follows:December 31,In millions20242023Performance Materials$1.2 $1.5 Performance Chemicals (1)102.5 137.5 Advanced Polymer Technologies175.1 197.1   Other intangibles, net$278.8 $336.1 _______________(1) Refer to footnote 4 in the preceding Other Intangible Assets table for more information on the change in amortization in 2024.The amortization expense related to our intangible assets in the table above is shown in the table below.Years Ended December 31,In millions202420232022Selling, general, and administrative expenses$32.2 $41.9 $33.6 Restructuring and other (income) charges, net (1)22.1 37.4 —   Total amortization expense$54.3 $79.3 $33.6 _______________(1) Amounts recorded to Restructuring and other (income) charges, net are not included within segment depreciation and amortization. Based on the current carrying values of intangible assets, estimated pre-tax amortization expense for the next five years is as follows: 2025 - $30.0 million, 2026 - $29.3 million, 2027 - $29.3 million, 2028 - $29.3 million and 2029 - $29.3 million. The