Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 85

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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0.1 million related to the sale of an equity method investment, respectively. There were no adjustments to the carrying value of equity method investments for impairment for the periods ended September 30, 2025 and December 31, 2024, respectively. 

10

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

Measurement Alternative InvestmentsDuring the third quarter of 2025, strategic investments accounted for under the measurement alternative method increased $20.0 million. The aggregate carrying value of all measurement alternative investments where fair value is not readily determinable totaled $89.4 million and $71.9 million at September 30, 2025 and December 31, 2024, respectively. During the second quarter of 2025 and the third quarter of 2024, the company identified trigger events indicating that certain investments being accounted for under the measurement alternative may be impaired. For the nine months ended September 30, 2025, the company recognized an impairment of $2.5 million, recorded in "Other (income) expense, net" on the condensed consolidated statements of operations. For the three and nine months ended September 30, 2024, the company recognized an impairment of $2.2 million recorded in "Other (income) expense, net" on the condensed consolidated statements of operations.Restricted Investment Our restricted investment is a trust managed in order to secure repayment of the finance lease obligation associated with our Performance Materials' Wickliffe, Kentucky manufacturing site at maturity. The trust, presented as Restricted investment on our condensed consolidated balance sheets, originally purchased long-term bonds that mature through 2026. The principal received at maturity of the bonds, along with interest income that is reinvested in the trust, is expected to be equal to or more than the $80.0 million finance lease obligation that is due in 2027. Because the provisions of the trust provide us the ability, and it is our intent, to hold the investments to maturity, the investments held by the trust are accounted for as held to maturity ("HTM"); therefore, they are held at their amortized cost. The investments held by the trust earn interest at the stated coupon rate of the invested bonds. Interest earned on the investments held by the trust is recognized and presented as interest income on our condensed consolidated statements of operations. As interest from the bonds is received and as bonds mature, any proceeds not reinvested are held in highly liquid securities and treated as restricted