Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 22

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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81.6 million, net of an allowance for credit losses of $0.2 million and $0.2 million, and included restricted cash of $29.8 million and $18.2 million, respectively. The fair value at June 30, 2025 and December 31, 2024 was $82.2 million and $80.3 million, respectively, based on Level 1 inputs. The following table shows the total amortized cost of our HTM debt securities by credit rating, excluding the allowance for credit losses and cash. The primary factor in our expected credit loss calculation is the composite bond rating. As the rating decreases, the risk present in holding the bond is inherently increased, leading to an increase in expected credit losses. HTM Debt SecuritiesIn millionsAA+AA-AA-BBB+TotalJune 30, 2025$13.2 10.5 13.1 6.6 10.0 $53.4 December 31, 2024$13.2 10.3 23.3 6.8 10.0 $63.6 

10

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

Debt and Finance Lease Obligations In millionsJune 30, 2025December 31, 2024Variable interest rate debt (1)$484.5 $555.2 Fixed rate debt (2)750.0 750.0 Finance lease obligations (3)99.5 100.0 Total debt including finance lease obligations$1,334.0 $1,405.2 _______________(1) For both periods presented, the carrying value of our variable interest rate debt, including the impact of a $200.0 million floating-to-fixed interest rate swap, and excluding debt issuance fees is considered a reasonable estimate of the fair value.(2) The carrying value of our fixed interest rate debt, for both periods presented, included the impact of a $200.0 million floating-to-fixed interest rate swap. As of June 30, 2025 and December 31, 2024, the fair value of our fixed rate debt was $725.5 million and $703.2 million, respectively, based on Level 2 inputs.(3) At June 30, 2025 and December 31, 2024, the fair value of our $80.0