Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 163

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 163
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2024Net income (loss) from discontinued operations (GAAP)$2.7 $(154.7)$(11.0)$(305.9)Provision (benefit) for income taxes on discontinued operations(1.0)(37.2)(4.3)(73.9)Depreciation and amortization0.3 1.0 1.1 8.1 Restructuring and other (income) charges, net (2)8.8 83.6 33.9 154.5 Goodwill impairment charge (3)— — — 42.5 Loss on CTO resales (4)— 0.8 — 50.8 CTO supply contract termination charges (5)— 100.0 — 100.0 (Gain) loss on strategic investments (6)— 4.5 — 9.3 Inventory charges (7)— 3.8 — 6.3 Indirect costs allocated to Divestiture (8)(4.2)(6.3)(11.7)(18.5)EBITDA from discontinued operations (Non-GAAP) (1)(9)$6.6 $(4.5)$8.0 $(26.8)

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(1) EBITDA from discontinued operations is defined as net sales from discontinued operations less operating expenses from discontinued operations (operating expenses from discontinued operations consist of costs of sales, selling, general and administrative expenses, research and technical expenses, other (income) expense, net, excluding depreciation and amortization). We have excluded the following items from EBITDA from discontinued operations: income taxes, depreciation, amortization, restructuring and other income (charges), net, inventory lower of cost or market charges associated with restructuring actions, goodwill impairment charges, acquisition and other-related income (costs), gain (loss) on sale of strategic investments, loss on CTO resales, CTO supply contract termination charges, and pension and postretirement settlement and curtailment income (charges), net.

(2) We regularly perform strategic reviews and assess the return on our operations, which sometimes results in a plan to restructure the business. These costs are excluded from our EBITDA from discontinued operations.

(3) During the second quarter of 2024, the company concluded that the carrying value of the Performance Chemicals reporting unit exceeded its fair value, resulting in a non-cash goodwill impairment charge.

(