Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 114

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 114
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ete obligation for a period of four years following the closing, (d) a ground lease agreement, with an initial term of 20 years and up to eight successive renewal terms of 10 years each, pursuant to which Ingevity will lease certain real property used in the operations of the Divestiture and grant certain easements and licenses granting Purchaser the right to use portions of Ingevity's manufacturing facilities located at 5598 Virginia Avenue, North Charleston, South Carolina 29406 (the "Plant") necessary for the operation of the Divestiture, (e) a reciprocal plant operating agreement, with an initial term of 20 years and up to eight successive renewal terms of 10 years each, pursuant to which Ingevity and Purchaser will provide each other with certain services and other arrangements supporting the operations of the CTO Refinery and the Plant and (f) an environmental indemnity agreement, which will include mutual indemnification rights and obligations for each party with respect to certain pre- and post-closing environmental losses that may arise, as well as an indemnity for environmental losses that may be incurred by either party under certain agreements to be entered into between the parties in connection with the Transaction.The results of our discontinued operations are summarized below:Three Months Ended September 30,Nine Months Ended September 30,In millions2025202420252024Net sales$29.0 $43.1 $98.7 $170.8 Cost of sales18.0 44.8 76.2 182.9 Gross profit11.0 (1.7)22.5 (12.1)Selling, general, and administrative expenses0.9 0.8 2.7 7.8 Research and technical expenses0.6 0.5 2.1 2.8 Restructuring and other (income) charges, net8.8 83.6 33.9 154.5 Goodwill impairment charge— — — 42.5 Other (income) expense, net(1.0)105.3 (0.9)160.1 Income (loss) from discontinued operations before income taxes1.7 (191.9)(15.3)(379.8)Provision (benefit) for income taxes on discontinued operations(1.0)(37.2)(4.3)(73.9)Income (loss) from