Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 69

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 3
Chunk 69
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108.3 122.8 108.8 Restructuring and other (income) charges, net (2)186.2 170.2 13.8 Goodwill impairment charge (3)349.1 — — Acquisition and other-related costs (4)0.3 4.5 5.9 Loss on CTO resales (5)52.7 22.0 — CTO supply contract termination charges (6)100.0 — — (Gain) loss on strategic investments (7)11.4 (19.3)— Pension and postretirement settlement and curtailment charges (income), net (8)0.2 — 0.2 Adjusted EBITDA (Non-GAAP)$362.7 $377.1 $452.6 

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(1) Refer to Note 19 for more information. 

(2) We regularly perform strategic reviews and assess the return on our operations, which sometimes results in a plan to restructure the business. These costs are excluded from our reportable segment results and for the purposes of calculating our non-GAAP financial performance measures. Refer to Note 15 for more information on the charges. 

(3) Refer to Note 8 for more information.

(4) Charges represent costs incurred to complete and integrate acquisitions and other strategic investments and include the expensing of the inventory fair value step-up resulting from the application of purchase accounting for acquisitions and certain legal and professional fees associated with the completion of acquisitions and strategic investments. Refer to Note 16 for more information.

(5) Due to the DeRidder Plant closure, and the corresponding reduced CTO refining capacity, we were obligated, under an existing CTO supply contract, to purchase CTO at amounts in excess of required CTO volumes. As of July 1, 2024, we terminated the CTO supply contract that resulted in these excess CTO volumes. As a result of the termination of this contract the purchases under the CTO supply contract ended, effective June 30, 2024, and we ended our CTO resale activity as of December 31, 2024. Since these CTO resale activities 

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are directly attributable to the Performance Chemicals’ repositioning, that is, they do not represent normal, recurring expenses necessary to operate our business, we have excluded the CTO resale (income) charges for the purposes of calculating