Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 1090

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 1090
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ucturing and other (income) charges, net within the consolidated statement of operations.

70

IndexIngevity CorporationNotes to the Consolidated Financial StatementsDecember 31, 2024

(2) Includes finance leases related to machinery and equipment of $93.7 million and $94.2 million, and net carrying value of $20.3 million and $22.7 million; buildings and leasehold improvements of $39.2 million and $39.2 million, and net carrying value of $29.9 million and $32.3 million, respectively. Amortization expense associated with these finance leases is included within depreciation expense. The payments remaining under these finance lease obligations are included within Note 13. Depreciation expense, excluding accelerated depreciation included in Restructuring and other (income) charges, net, was $71.6 million, $81.5 million, and $70.9 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Note 8: Goodwill and Other Intangible Assets, net

GoodwillReporting UnitsIn millionsPerformance MaterialsPerformance ChemicalsAdvanced Polymer TechnologiesTotalBalance as of December 31, 2022$4.3 $514.2 $— $518.5 Segment change reallocation— (165.0)165.0 — Foreign currency translation— 0.2 8.8 9.0 Balance as of  December 31, 2023$4.3 $349.4 $173.8 $527.5 Goodwill impairment charge— (349.1)— (349.1)Foreign currency translation— (0.3)(2.9)(3.2)Balance as of  December 31, 2024Goodwill4.3 349.1 170.9 524.3 Accumulated impairment losses— (349.1)— (349.1)$4.3 $— $170.9 $175.2 Impairment Assessment(s) and Goodwill Impairment ChargeImpairment AssessmentOur fiscal year 2024 annual goodwill impairment assessment was performed as of October 1, 2024. We determined that the fair value of our reporting units were in excess of their carrying value and therefore concluded that no goodwill impairment existed. The results of our October 1st annual review calculated that