Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 91

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 credit agreement governing our revolving credit facility contains customary default provisions, including defaults for non-payment, breach of representations and warranties, insolvency, non-compliance with covenants and cross-defaults to other material indebtedness. The occurrence of an uncured event of default under the credit agreement could result in all loans and other obligations becoming immediately due and payable and our revolving credit facility being terminated. The credit agreement also contains certain customary covenants, including financial covenants. The revolving credit facility financial covenants require Ingevity to maintain on a consolidated basis a maximum total net leverage ratio of 4.0 to 1.0 (which may be increased to 4.5 to 1.0 under certain circumstances) and a minimum interest coverage ratio of 3.0 to 1.0. As calculated per the credit agreement, our net leverage for the four consecutive quarters ended June 30, 2025 was 2.9, and our actual interest coverage for the four consecutive quarters ended June 30, 2025 was 5.0. We were in compliance with all covenants under the credit agreement at June 30, 2025.

16

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

Note 10: Equity

Common StockIn millions, shares in thousandsSharesAmountAdditional paid in capitalRetained earningsAccumulatedothercomprehensiveincome (loss)Treasury stockTotal EquityBalance at December 31, 202443,630 $0.4 $176.8 $572.0 $(41.4)$(512.6)$195.2 Net income (loss)— — — 20.5 — — 20.5 Other comprehensive income (loss)— — — — 17.4 — 17.4 Common stock issued155 — — — — — — Tax payments related to vested restricted stock units— — — — — (2.6)(2.6)Share-based compensation plans— — 4.1 — — — 4.1 Balance at March 31, 202543,785 $0.4 $180.9 $592.5 $(24.0)$(515.2)$234.6 Net income (loss)— — — (146.5