Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 83

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 83
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$333.1 $333.8 $912.5 $936.8 _______________(1) Countries with Net sales in excess of 10 percent of consolidated Net sales for the three and nine months ended September 30, 2025, are the U.S., which totaled $181.4 million and $469.2 million, respectively, and China, which totaled $39.6 million and $112.5 million, respectively. Countries with Net sales in excess of 10 percent of consolidated Net sales for the three and nine months ended September 30, 2024 are the U.S., which totaled $168.2 million and $465.9 million, respectively, and China, which totaled $47.2 million and $123.2 million, respectively. 

8

INGEVITY CORPORATIONNotes to the Condensed Consolidated Financial StatementsSeptember 30, 2025(Unaudited)

Contract BalancesThe contract assets primarily relate to our rights to consideration for products produced but not billed at the reporting date. The contract assets are recognized as accounts receivables when we have an enforceable right to payment for performance completed to date and the customer has been billed. Contract liabilities represent obligations to transfer goods to a customer for which we have received consideration from our customer. For all periods presented, we had no contract liabilities.The following table provides information about contract assets from contracts with certain customers. Contract AssetSeptember 30,In millions20252024Beginning balance$6.5 $11.2 Contract asset additions10.9 10.1 Reclassification to accounts receivable, billed to customers(10.0)(13.8)Ending balance (1)$7.4 $7.5 _______________(1) Included within "Prepaid and other current assets" on the condensed consolidated balance sheets.

9

INGEVITY CORPORATIONNotes to the Condensed Consolidated Financial StatementsSeptember 30, 2025(Unaudited)

Note 4: Fair Value Measurements

Recurring Fair Value MeasurementsThe following information is presented for assets and liabilities that are recorded on the condensed consolidated balance sheets at fair value measured on a recurring basis. There were no transfers of assets and liabilities that were recorded at fair value between the three-level fair value hierarchy during the periods reported.In millionsLevel 1(1)Level 2(2)Level 3(3)TotalSeptember 30, 2025Assets:Deferred compensation plan investments (4)$3.9 $—