Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 935

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 6
Chunk 935
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 2022, all charges related to the integration of Ozark Materials into our Performance Chemicals segment. See Note 16 for more information.

Other (income) expense, net

Years Ended December 31, 2024, 2023, and 2022

 Years Ended December 31,In millions202420232022(Gain) loss on strategic investments (1)$11.4 $(19.3)$— Foreign currency transaction (gain) loss4.2 3.7 2.3 CEO severance charges4.8 — — Loss on CTO resales (2)52.7 22.0 — CTO supply contract termination charges (2)100.0 — — Other (income) expense, net(3.3)(0.7)(4.0)Total Other (income) expense, net$169.8 $5.7 $(1.7)

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(1) See Note 5 for more information.

(2) See Note 15 for more information.

33

Interest expense

Years Ended December 31, 2024, 2023, and 2022

Years Ended December 31,In millions202420232022  Finance lease obligations (1)$7.3 $7.3 $7.5   Revolving credit facility and term loan (2) (3)57.2 59.1 21.2   Senior Notes (3)22.4 22.4 33.1 Accounts receivable securitization (3)5.7 1.5 —   Litigation related interest expense (4)5.2 3.0 — Total interest expense$97.8 $93.3 $61.8 

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(1) See Note 13 for more information. 

(2) The increase in interest expense was driven by higher average debt levels during 2024 and 2023 due to the October 2022, $325.0 million acquisition of Ozark Materials, as well as higher average interest rates compared to prior years.

(3) See Note 10 for more information.

(4) See Note 18 for more information.q

Interest income

Years Ended December 31 2024, 2023, and 2022

Years Ended December 31,In millions202420232022Restricted investment (