Ingevity Corp
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Net Sales
Note 4: Net Sales
Disaggregation of Net sales
The following tables present our Net sales disaggregated by product line and geography.
| Years Ended December 31, | |||
|---|---|---|---|
| In millions | 2023 | 2022 | 2021 |
| Performance Materials segment | $586.0 | $548.5 | $516.8 |
| Performance Chemicals segment | |||
| Road Technologies product line (1) | 369.8 | 241.3 | 195.4 |
| Industrial Specialties product line | 532.3 | 633.8 | 493.5 |
| Total | $902.1 | $875.1 | $688.9 |
| Advanced Polymer Technologies segment | $204.0 | $244.7 | $185.8 |
| Net sales | $1,692.1 | $1,668.3 | $1,391.5 |
| _______________ | |||
| (1) Previously named Pavement Technologies | |||
Index
The following table presents our Net sales disaggregated by geography, based on the delivery address of our customer.
| Years Ended December 31, | |||
|---|---|---|---|
| In millions | 2023 | 2022 | 2021 |
| North America | $1,069.5 | $983.2 | $763.3 |
| Asia Pacific | 364.0 | 398.7 | 385.5 |
| Europe, Middle East, and Africa | 215.5 | 242.2 | 219.6 |
| South America | 43.1 | 44.2 | 23.1 |
| Net sales | $1,692.1 | $1,668.3 | $1,391.5 |
Contract Balances
The following table provides information about contract assets and contract liabilities from contracts with customers. The contract assets primarily relate to our rights to consideration for products produced but not billed at the reporting date from contracts with certain customers. The contract assets are recognized as accounts receivables when we have an enforceable right to payment for performance completed to date and the customer has been billed. Contract liabilities represent obligations to transfer goods to a customer for which we have received consideration from our customer. For all periods presented, we hadno contract liabilities.
| Year Ended December 31, | ||
|---|---|---|
| In millions | 2023 | 2022 |
| Contract asset at beginning of period | $6.4 | $5.3 |
| Additions | 18.1 | 20.7 |
| Reclassification to accounts receivable, billed to customers | (13.3) | (19.6) |
| Contract asset at end of period (1) | $11.2 | $6.4 |
| _______________ | ||
| (1) Included within "Prepaid and other current assets" on the consolidated balance sheet. | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.