Company: NGVT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001653477-25-000091
Chunk: 89

Company: Ingevity Corp
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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APTPMPCAPTNet sales (i)$146.8 $95.0 $42.2 $145.1 $147.0 $48.0 Less:Cost of sales (ii) (iii)54.4 77.4 23.6 52.1 135.9 32.4 Selling, general, and administrative expenses (ii) (iv) 16.4 18.8 5.9 15.0 21.1 5.8 Other (income) expense, net (ii) (v)(3.1)(0.9)0.2 — 0.6 0.3 Segment EBITDA$79.1 $(0.3)$12.5 $78.0 $(10.6)$9.5 _______________(i) Relates to external customers only. Refer to Note 3 for a reconciliation to consolidated Net sales.(ii) Excludes Depreciation and amortization.(iii) Inventory charges representing lower of cost or market charges associated with the Performance Chemicals repositioning and restructuring actions were not allocated in the measurement of Performance Chemicals reportable segment profitability used by our CODM. Amounts are included in Cost of sales on the condensed consolidated statements of operations.(iv) Includes Research and technical expenses.(v) We have excluded the following items from Other (income) expense, net: gain (loss) on sale of strategic investments, loss on CTO resales, CTO supply contract termination charges, proxy contest charges, depreciation, and amortization.(3) The table below provides an allocation of these charges between our three reportable segments to provide investors, potential investors, securities analysts and others with the information, should they choose, to apply such (income) charges to each respective reportable segment for which the charges relate. Three Months Ended March 31,In millions20252024Performance Materials$— $0.1 Performance Chemicals11.7 62.8 Advanced Polymer Technologies0.6 (0.1)Restructuring and other (income) charges, net$12.3 $62.8 (4) Charges represent (gains) losses incurred to complete and integrate acquisitions and other strategic investments. Charges may include the expensing of the inventory fair value step-up resulting from the application of purchase accounting for acquisitions and certain legal and professional fees associated with the completion of acquisitions and strategic