Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 66

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 66
---
 for income taxes, depreciation, amortization, restructuring and other (income) charges, net, goodwill impairment charge, acquisition and other-related (income) costs, litigation verdict charges, (loss) gain on strategic investments, loss on CTO resales, CTO supply contract termination charges, proxy contest charges and pension and postretirement settlement and curtailment (income) charges, net.

This non-GAAP measure is not intended to replace the presentation of financial results in accordance with GAAP and investors should consider the limitations associated with these non-GAAP measures, including the potential lack of comparability of these measures from one company to another. A reconciliation of Adjusted EBITDA to net income is set forth within this section.

Reconciliation of Net Income (Loss) to Adjusted EBITDAThree Months Ended June 30,Six Months Ended June 30,In millions2025202420252024Net income (loss) (GAAP)$(146.5)$(283.7)$(126.0)$(339.7)Interest expense, net18.6 23.2 38.0 45.5 Provision (benefit) for income taxes3.8 (50.9)10.1 (66.8)Depreciation and amortization (1)25.6 27.3 50.5 56.9 Restructuring and other (income) charges, net (2)21.9 13.1 34.2 75.9 Goodwill impairment charge (3)183.8 349.1 183.8 349.1 Acquisition and other-related (income) costs, net (4)— (0.2)— 0.1 Loss on CTO resales (5)— 23.5 — 50.0 (Gain) loss on strategic investments (6)2.5 (0.1)2.5 4.7 Proxy contest charges (7)0.3 — 8.2 — Adjusted EBITDA (Non-GAAP)$110.0 $101.3 $201.3 $175.7 

_______________

(1) Refer to Note 14 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