Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 29

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 consolidated balance sheets.(7) Included within "Other liabilities" on the condensed consolidated balance sheets.

15

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

Note 9: Debt, including Finance Lease Obligations

Current and long-term debt including finance lease obligations consisted of the following: In millions, except percentagesJune 30, 2025December 31, 2024Revolving Credit Facility and other lines of credit (1)(2)$591.0 $695.0 3.88% Senior Notes due 2028550.0 550.0 Finance lease obligations (3)99.5 100.0 Accounts receivable securitization (4)91.4 58.3 Other notes payable2.1 1.9 Total debt including finance lease obligations$1,334.0 $1,405.2 Less: debt issuance costs3.7 4.2 Total debt including finance lease obligations, net of debt issuance costs$1,330.3 $1,401.0 Less: debt maturing within one year (5)94.7 61.3 Long-term debt including finance lease obligations$1,235.6 $1,339.7 _______________(1) Letters of credit outstanding under the revolving credit facility were $9.0 million and $2.6 million and available funds under the facility were $400.0 million and $302.4 million at June 30, 2025 and December 31, 2024, respectively.(2) The effective interest rate associated with our revolving credit facility, exclusive of any floating-to-fixed interest rate instrument, was 6.59 percent and 7.48 percent for the period ended June 30, 2025 and December 31, 2024, respectively.(3) As of June 30, 2025 and December 31, 2024, $80.0 million of the finance lease obligations upon maturity will be settled utilizing liquid assets that have been placed into a trust established strictly for this purpose. The trust is presented as Restricted investments on the condensed consolidated balance sheets in the amount of $83.0 million and $81.6 million as of June 30, 2025 and December 31, 2024, respectively. Refer to Note 4, under the section: Restricted Investment, for more information.(4