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

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 of fair value. Our analysis reassessed the expected cash flows in light of current performance and expected lack of near term recovery in our industrial specialties product line, resulting in lower volume and profitability expectations. As a result, we concluded that the carrying value of the Performance Chemicals reporting unit exceeded its fair value, resulting in a non-cash goodwill impairment charge of $349.1 million, which represented all of the goodwill within the Performance Chemicals' reportable segment. The charge was included within Goodwill impairment charge on the condensed consolidated statements of operations for the three and six months ended June 30, 2024. Specific to our long-lived assets, we determined that the undiscounted cash flows were in excess of the carrying values and therefore concluded that no impairment existed. 

12

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

Other Intangible AssetsIn millionsCustomer contracts and relationshipsBrands (1)Developed TechnologyTotalGross Asset ValueDecember 31, 2024$264.9 $91.4 $88.7 $445.0 Retirements— — (1.8)(1.8)Foreign currency translation15.0 6.3 6.0 27.3 June 30, 2025$279.9 $97.7 $92.9 $470.5 Accumulated AmortizationDecember 31, 2024$(88.4)$(35.4)$(42.4)$(166.2)Amortization(7.6)(2.8)(4.8)(15.2)Retirements— — 0.9 0.9 Foreign currency translation(5.5)(2.1)(3.3)(10.9)June 30, 2025$(101.5)$(40.3)$(49.6)$(191.4)Other intangibles, net$178.4 $57.4 $43.3 $279.1 _______________(1) Represents trademarks, trade names, and know-how.Intangible assets subject to amortization were attributed to our business segments as follows:In millionsJune 30, 2025December 31, 2024Performance Materials$1.1 $1.2 Performance Chemicals97.0 102.5 Advanced Polymer Technologies181.0 175