Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 79

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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9 $185.5 $262.9 $332.5 Advanced Polymer Technologies segment$43.3 $47.9 $85.5 $95.9 Net sales$365.1 $390.6 $649.1 $730.7 _______________(1) The reduction in the industrial specialties product line from 2024 to 2025 was due to the repositioning actions taken to improve the Performance Chemicals reportable segment, refer to Note 11 for more information. The following table presents our Net sales disaggregated by geography, based on the delivery address of our customer.Three Months Ended June 30,Six Months Ended June 30,In millions2025202420252024North America (1)$228.4 $235.6 $386.6 $438.3 Asia Pacific (1)78.2 86.7 150.5 165.1 Europe, Middle East, and Africa46.8 55.3 90.4 103.6 South America11.7 13.0 21.6 23.7 Net sales$365.1 $390.6 $649.1 $730.7 _______________(1) Countries with Net sales in excess of 10 percent of consolidated Net sales for the three and six months ended June 30, 2025, are the U.S., which totaled $205.2 million and $345.5 million, respectively, and China, which totaled $38.8 million and $74.2 million, respectively. Countries with Net sales in excess of 10 percent of consolidated Net sales for the three and six months ended June 30, 2024 are the U.S., which totaled $209.3 million and $393.1 million, respectively, and China, which totaled $40.4 million and $82.6 million, respectively. 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.

8

INGEVITY CORPORATIONNotes to the Condensed Consolidated Financial StatementsJune 30, 202