Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 1232

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 1232
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 are included in Cost of sales on the consolidated statements of operations.(7) For the year ended December 31, 2024, CTO supply contract termination charges relate to the Performance Chemicals reportable segment. Refer to Note 2, under the section: Non-operating income and expense, for more information.

100

IndexIngevity CorporationNotes to the Consolidated Financial StatementsDecember 31, 2024

(8) We exclude gains and losses from sales of strategic investments from our segment results because we do not consider such gains or losses to be directly associated with the operational performance of the segment. We believe that the inclusion of such gains or losses, would impair the factors and trends affecting the historical financial performance of our reportable segments. We continue to include undistributed earnings or loss, distributions, amortization or accretion of basis differences, and other-than-temporary impairments for equity method investments that we believe are directly attributable to the operational performance of such investments, in our reportable segment results. Refer to Note 5, under the section: Strategic Investments, for more information.Years Ended December 31,In millions202420232022Performance Materials$(0.1)$(19.3)$— Performance Chemicals9.3— — Advanced Polymer Technologies2.2 — — (Gain) loss on sale of strategic investment$11.4 $(19.3)$— (9) Our pension and postretirement settlement and curtailment charges (income) are related to the acceleration of prior service costs, as a result of a reduction in the number of participants within the Union Hourly defined benefit pension plan. These are excluded from our segment results because we consider these costs to be outside our operational performance. We continue to include the service cost, amortization of prior service cost, interest costs, expected return on plan assets, and amortized actual gains and losses in our segment EBITDA.Years Ended December 31,In millions202420232022Performance Materials$— $— $0.2 Performance Chemicals0.2— — Advanced Polymer Technologies— — — Pension and postretirement settlement and curtailment (income) charges, net$0.2 $— $0.2 Depreciation and amortizationYears Ended December 31,In millions202420232022Performance Materials$38.7 $38.3 $36.1 Performance Chemicals38.