Ingevity (NGVT) 10-Q 29 Oct 20 2020 Q3 Quarterly report Financial data

Cover page

Cover page - shares	9 Months Ended
	Sep. 30, 2020	Oct. 27, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2020
Entity File Number	001-37586
Entity Registrant Name	INGEVITY CORPORATION
Entity Central Index Key	0001653477
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-4027764
Entity Address, Address Line One	4920 O'Hear Avenue Suite 400
Entity Address, City or Town	North Charleston
Entity Address, State or Province	SC
Entity Address, Postal Zip Code	29405
City Area Code	843
Local Phone Number	740-2300
Title of 12(b) Security	Common Stock ($0.01 par value)
Trading Symbol	NGVT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		41,279,494

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net sales	$ 331.7	$ 359.9	$ 890.5	$ 989.5
Cost of sales	192.1	220.4	552.4	618.5
Gross profit	139.6	139.5	338.1	371
Selling, general and administrative expenses	34.9	40.7	107.9	122.3
Research and technical expenses	5.2	4.9	16.8	15
Restructuring and other (income) charges, net	5.5	1.7	13.3	2
Acquisition-related costs	0	1.3	1.7	24.9
Other (income) expense, net	(3)	1.4	(0.1)	(2.3)
Interest expense, net	8.9	12.1	29.8	36.3
Income (loss) before income taxes	88.1	77.4	168.7	172.8
Provision (benefit) for income taxes	18.2	17.5	33.3	33.4
Net income (loss)	$ 69.9	$ 59.9	$ 135.4	$ 139.4
Per share data
Basic earnings (loss) per share (usd per share)	$ 1.69	$ 1.42	$ 3.27	$ 3.33
Diluted earnings (loss) per share (usd per share)	$ 1.69	$ 1.41	$ 3.26	$ 3.30

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 69.9	$ 59.9	$ 135.4	$ 139.4
Foreign currency adjustments:
Unrealized gain (loss) on net investment hedges, net of tax provision (benefit) of $(1.9), $1.6, $(0.8), and $1.5	27.6	(22.9)	(14.2)	(29)
Unrealized gain (loss) on net investment hedges, net of tax provision (benefit) of $(1.9), $1.6, $(0.8), and $1.5	(6.2)	5.3	(2.7)	5.1
Total foreign currency adjustments, net of tax provision (benefit) of $(1.9), $1.6, $(0.8), and $1.5	21.4	(17.6)	(16.9)	(23.9)
Derivative instruments:
Unrealized gain (loss), net of tax provision (benefit) of $0.2, $(0.2), $(1.4), and $(1.3)	0.7	(0.9)	(4.5)	(4.4)
Reclassifications of deferred derivative instruments (gain) loss, included in net income (loss), net of tax (provision) benefit of $0.1, zero, $0.2, and $(0.1)	0.4	0	0.7	(0.5)
Total derivative instruments, net of tax provision (benefit) of $0.3, $(0.2), $(1.2), and $(1.4)	1.1	(0.9)	(3.8)	(4.9)
Pension & other postretirement benefits:
Unrealized actuarial gains (losses) and prior service (costs) credits, net of tax of zero for all periods	0	0	0	0
Reclassifications of net actuarial and other (gain) loss and amortization of prior service cost, included in net income, net of tax of zero for all periods	0.1	0	0.1	0
Total pension and other postretirement benefits, net of tax of zero for all periods	0.1	0	0.1	0
Other comprehensive income (loss), net of tax provision (benefit) of $(1.6), $1.4, $(2.0), and $0.1	22.6	(18.5)	(20.6)	(28.8)
Comprehensive income (loss)	$ 92.5	$ 41.4	$ 114.8	$ 110.6

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Tax on net investment hedge	$ (1,900,000)	$ 1,600,000	$ (800,000)	$ 1,500,000
Foreign currency tax	(1,900,000)	1,600,000	(800,000)	1,500,000
Derivative instruments, unrealized gain (loss), tax	200,000	(200,000)	(1,400,000)	(1,300,000)
Reclassification derivative instrument, tax	100,000	0	200,000	(100,000)
Derivative instrument, tax	300,000	(200,000)	(1,200,000)	(1,400,000)
Unrealized actuarial gains (losses) and prior service (costs) credits, tax	0	0	0	0
Reclassifications of net actuarial and other (gain) loss and amortization of prior service cost, tax	0	0	0	0
Total pension and other postretirement benefits, tax	0	0	0	0
Other comprehensive income (loss), tax	$ (1,600,000)	$ 1,400,000	$ (2,000,000)	$ 100,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 198.2	$ 56.5
Accounts receivable, net of allowance for credit losses of $1.8 million - 2020 and $0.5 million - 2019	154.3	150
Inventories, net	204	212.5
Prepaid and other current assets	44.5	44.2
Current assets	601	463.2
Property, plant and equipment, net	685.3	664.7
Operating lease assets, net	52.1	53.4
Goodwill	427.8	436.4
Other intangibles, net	366.5	396.2
Deferred income taxes	6.2	5
Restricted investment, net of allowance for credit losses of $1.1 million - 2020	73	72.6
Other assets	46.3	50.2
Total Assets	2,258.2	2,141.7
Liabilities
Accounts payable	84.8	99.1
Accrued expenses	36	33.3
Accrued payroll and employee benefits	16	28.2
Current operating lease liabilities	16.6	17.1
Notes payable and current maturities of long-term debt	22.4	22.5
Income taxes payable	3.1	15.3
Current liabilities	178.9	215.5
Long-term debt including finance lease obligations	1,277	1,228.4
Noncurrent operating lease liabilities	37.5	36.7
Deferred income taxes	109.5	100.3
Other liabilities	38.3	30
Total Liabilities	1,641.2	1,610.9
Commitments and contingencies (Note 16)
Equity
Preferred stock (par value $0.01 per share; 50,000,000 shares authorized; zero issued and outstanding - 2020 and 2019)	0	0
Common stock (par value $0.01 per share; 300,000,000 shares authorized; issued: 42,895,386 - 2020 and 42,675,171 - 2019; outstanding: 41,277,888 - 2020 and 41,826,136 - 2019)	0.4	0.4
Additional paid-in capital	116.8	112.8
Retained earnings	632	497.2
Accumulated other comprehensive income (loss)	(25.6)	(5)
Treasury stock, common stock, at cost (1,617,498 shares - 2020; 849,035 shares - 2019)	(106.6)	(74.6)
Total Equity	617	530.8
Total Liabilities and Equity	$ 2,258.2	$ 2,141.7

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Allowance for doubtful accounts	$ 2.9	$ 0.5
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	50,000,000	50,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	300,000,000	300,000,000
Common stock, shares issued (shares)	42,895,386	42,675,171
Common stock shares outstanding (shares)	41,277,888	41,826,136
Treasury shares (in shares)	1,617,498	849,035
Restricted Investment
Allowance for doubtful accounts	$ 1.1

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019
Cash provided by (used in) operating activities:
Net income (loss)		$ 135.4	$ 139.4
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Depreciation and amortization		73.5	61.4
Non cash operating lease costs		13.6	15.1
Deferred income taxes		11.3	26.7
Restructuring and other (income) charges, net		1.7	0
Share-based compensation		4.3	11
Other non-cash items		13.2	9.7
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable, net		(5.6)	(34.5)
Inventories, net		9	0.4
Prepaid and other current assets		1.5	(2.8)
Current liabilities		(17.3)	(22.4)
Income taxes		(19.2)	(5.1)
Operating leases		(13.8)	(14.9)
Changes in other operating assets and liabilities, net		(8.5)	6.2
Net cash provided by (used in) operating activities		199.1	190.2
Cash provided by (used in) investing activities:
Capital expenditures		(51)	(79.8)
Payments for acquired businesses, net of cash acquired		0	(537.9)
Finance lease expenditures		(23.8)	0
Other investing activities, net		(3.6)	(4.7)
Net cash provided by (used in) investing activities		(78.4)	(622.4)
Cash provided by (used in) financing activities:
Proceeds from revolving credit facility		346.1	789
Proceeds from long-term borrowings		0	375
Payments on revolving credit facility		(307.3)	(596)
Payments on long-term borrowings		(14.1)	(117.8)
Debt issuance costs		0	(1.8)
Finance lease obligations, net		23.3	0
Borrowings (repayments) of notes payable and other short-term borrowings, net		(0.9)
Borrowings (repayments) of notes payable and other short-term borrowings, net			2.2
Tax payments related to withholdings on vested equity awards		(3)	(14.3)
Proceeds and withholdings from share-based compensation plans, net		3.1	3.7
Repurchases of common stock under publicly announced plan		(32.4)	(6.4)
Net cash provided by (used in) financing activities		14.8	433.6
Increase (decrease) in cash, cash equivalents, and restricted cash		135.5	1.4
Effect of exchange rate changes on cash		0.3	(2.3)
Change in cash, cash equivalents, and restricted cash	[1]	135.8	(0.9)
Cash, cash equivalents, and restricted cash at beginning of period		64.6	77.5
Cash, cash equivalents and restricted cash at end of period	[1]	200.4	76.6
Supplemental cash flow information:
Cash paid for interest, net of capitalized interest		37.7	40.1
Cash paid for income taxes, net of refunds		41.4	12.6
Purchases of property, plant and equipment in accounts payable		1.9	8.3
Leased assets obtained in exchange for new finance lease liabilities		23.8	0
Leased assets obtained in exchange for new operating lease liabilities		24.5	3.2
Restricted cash and cash equivalents		2.2	1
Cash and cash equivalents		$ 198.2	$ 75.6
[1]	Includes restricted cash of $2.2 million and $1.0 million and cash and cash equivalents of $198.2 million and $75.6 million at September 30, 2020 and 2019, respectively. Restricted cash is included within "Prepaid and other current assets" within the condensed consolidated balance sheets.

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Statement of Cash Flows [Abstract]
Restricted cash and cash equivalents	$ 2.2		$ 1
Cash and cash equivalents	$ 198.2	$ 56.5	$ 75.6

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business Ingevity Corporation ("Ingevity," "the Company," "we," "us," or "our") is a leading global manufacturer of specialty chemicals and high performance activated carbon materials. We provide innovative solutions to meet our customers’ unique and demanding requirements through proprietary formulated products. We report in two business segments, Performance Materials and Performance Chemicals. Our Performance Materials segment consists of our automotive technologies and process purification product lines. Performance Materials manufactures products in the form of powder, granular, extruded pellets, extruded honeycombs, and activated carbon sheets. Automotive technologies products are sold into gasoline vapor emission control applications within the automotive industry, while process purification products are sold into the food, water, beverage, and chemical purification industries. Our Performance Chemicals segment consists of our pavement technologies, oilfield technologies, industrial specialties, and engineered polymers product lines. Performance Chemicals manufactures products derived from crude tall oil ("CTO") and lignin extracted from the kraft paper making process as well as caprolactone monomers and derivatives derived from cyclohexanone and hydrogen peroxide. Performance Chemicals products serve as critical inputs used in a variety of high performance applications, including pavement preservation, pavement adhesion promotion, and warm mix paving (pavement technologies product line), oil well service additives, oil production, and downstream application chemicals (oilfield technologies product line), printing inks, adhesives, agrochemicals, lubricants, and industrial intermediates (industrial specialties product line), coatings, resins, elastomers, adhesives, and bio-plastics (engineered polymers product line). Basis of Presentation These unaudited condensed consolidated financial statements reflect the consolidated operations of the Company and have been prepared in accordance with United States Securities and Exchange Commission ("SEC") interim reporting requirements. Accordingly, the accompanying condensed consolidated financial statements do not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP") for full financial statements and should be read in conjunction with the Annual Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017, collectively referred to as the “Annual Consolidated Financial Statements” included in our Annual Report on Form 10-K for the year ended December 31, 2019 (the "2019 Annual Report"). In the opinion of management, the condensed consolidated financial statements contain all adjustments, which include only normal recurring adjustments, necessary to fairly state the condensed consolidated results for the interim periods presented. The consolidated results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. The preparation of the condensed consolidated financial statements requires management to make estimates and assumptions with respect to the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates. During the three and nine months ended September 30, 2020 and subsequent to this date, there have been significant changes to the global economic situation and to public securities markets as a consequence of the novel strain of coronavirus ("COVID-19") pandemic. It is reasonably possible that this could cause changes to estimates as a result of the financial circumstances of the markets in which we operate, the price of our publicly traded equity in comparison to the carrying value, and the health of the global economy. Such changes to estimates could potentially result in impacts that would be material to the condensed consolidated financial statements. While there was not a material impact to our condensed consolidated financial statements as of and for the three and nine ended September 30, 2020, our future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to our consolidated financial statements in future reporting periods. Certain prior year amounts have been reclassified to conform with the current year's presentation.

Coronavirus Pandemic

Coronavirus Pandemic	9 Months Ended
	Sep. 30, 2020
Unusual or Infrequent Items, or Both [Abstract]
Coronavirus Pandemic	Coronavirus Pandemic On March 11, 2020, the World Health Organization declared COVID-19 a global pandemic and recommended containment and mitigation measures worldwide. COVID-19 has led to adverse impacts on the U.S. and global economies, and created uncertainty regarding potential impacts to our supply chain, operations, and customer demand. We have been classified as an essential business in the jurisdictions that have made this determination to date, allowing us to continue operations. However, our facilities - as well as the operations of our suppliers, customers, third-party sales representatives, and distributors - have been, and will continue to be, disrupted by governmental and private sector responses to COVID-19. This includes business shutdowns, work-from-home orders and social distancing protocols, travel or health-related restrictions, as well as quarantines, self-isolations, and disruptions to transportation channels. On March 27, 2020, the U.S. government enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which includes modifications to the limitation on business interest expense and net operating loss provisions, and provides a payment delay of employer payroll taxes during 2020 after the date of enactment. We estimate the payment of approximately $5.3 million of employer payroll taxes otherwise due in 2020 will be delayed with 50 percent due by December 31, 2021 and the remaining 50 percent by December 31, 2022. The CARES Act is not expected to have a material impact on our condensed consolidated financial statements. In order to strengthen our short-term liquidity and to ensure financial flexibility, in March 2020, we drew down $250 million from our revolving credit facility as a precautionary measure and also suspended our share repurchase program. During the three and nine months ended September 30, 2020, we paid back $50 million and $205 million, respectively, of this drawn down amount. We also implemented work-from-home policies and protocols for the majority of our global salaried workforce, as well as social distancing practices to ensure the safety of our employees at our manufacturing facilities. During the second quarter, we decreased production at some of our U.S. and China based manufacturing plants due to COVID-19 customer demand impacts and implemented a cost reduction initiative further described in Note 14. During the third quarter, we resumed normal production at all manufacturing plants as customer demand improved.

New Accounting Guidance

New Accounting Guidance	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
New Accounting Guidance	New Accounting Guidance The Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC" or "Codification") is the sole source of authoritative GAAP other than SEC issued rules and regulations that apply only to SEC registrants. The FASB issues an Accounting Standards Update ("ASU") to communicate changes to the Codification. We consider the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are not expected to have a material impact on the consolidated financial statements. Recently Adopted Accounting Pronouncements In August 2018, the FASB issued ASU 2018-15 "Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract." This ASU requires companies to defer specific implementation costs incurred in a Cloud Computing Arrangement ("CCA") that are often expensed as incurred under current GAAP, and recognize the expense over the noncancellable term of the CCA. We adopted this standard on a prospective basis on January 1, 2020. As a result of the adoption, we anticipate capitalizing certain implementation costs that were previously expensed as incurred, which will be recorded to either prepaid and other current assets or other assets on the condensed consolidated balance sheets, depending on the duration of the agreement. The impact of the adoption did not have a material impact on our condensed consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU 2016-13 “Financial Instruments – Credit losses: Measurement of Credit Losses on Financial Instruments." In 2019 and 2020, the FASB issued several ASUs to amend and clarify the credit loss guidance in the original ASU 2016-13 (ASU 2016-13 and its amendments are herein referred to as “ASC 326” or "CECL"). ASC 326 amends FASB's guidance on the impairment of financial instruments, specifically adding an impairment model to GAAP that is based on expected losses, rather than incurred losses, which is intended to result in more timely recognition of such losses. We adopted this standard on January 1, 2020. We have updated our internal controls and operational processes and procedures, to include certain forward-looking considerations in our current process of developing and recognizing credit losses for our accounts receivable and restricted investment accounted for at amortized cost. Generally, the adoption of ASC 326 did not have a material impact on our condensed consolidated balance sheet, results of operations or cash flows. ASC 326 had an immaterial impact to our allowance for credit losses reported in accounts receivable on our condensed consolidated balance sheet upon adoption. Additionally, upon adoption of ASC 326, we estimated an allowance for credit losses for our restricted investment on our condensed consolidated balance sheet. Our restricted investment, which is accounted for as a held-to-maturity investment, consists of highly rated corporate long-term bonds that mature in 2025 and 2026. To calculate our expected credit loss allowance, we utilized a probability-of-default method (“PDM”) for each bond based on each securities term. This process uses historical credit loss experience on similar product types, adjusted for reasonable and supportable forecasts of future default rates. Using a PDM, we calculated an expected credit loss allowance at January 1, 2020 of $0.6 million, which was recorded as an adjustment to the opening balance of retained earnings. The following table displays changes in our allowance for credit losses as of September 30, 2020, including the transition impact of adopting the CECL standard. (in millions) Balance at December 31, 2019 (1) Impact from Adoption of ASC 326 Balance at January 1, 2020 Current Period Provision Balance at September 30, 2020 (2) Allowance for credit losses $ 0.5 0.6 1.1 1.8 $ 2.9 ______________ (1) The allowance for credit losses at December 31, 2019 of $0.5 million was included in "Accounts receivable, net" on the condensed consolidated balance sheets. (2) The allowance for credit losses at September 30, 2020 of $1.8 million and $1.1 million was included "Accounts receivable, net" and "Restricted investment" on the condensed consolidated balance sheets, respectively. Our expected credit losses can vary from period to period based on several factors, such as changes in bond ratings, actual observed bond defaults, and overall economic environment. The primary factor that contributed to our provision for expected credit losses in the nine months ended September 30, 2020 was a pessimistic outlook of the macroeconomic environment due to the COVID-19 pandemic, and related effects on the financial performance of U.S.-based corporations. The increase in the allowance for credit losses of $1.8 million in the nine months ended September 30, 2020 is attributed to $0.5 million for Level 1 securities and $1.3 million for accounts receivable expected credit losses. Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-14 "Compensation — Retirement Benefits — Defined Benefit Plans — General (Topic 715-20): Disclosure Framework — Changes to the Disclosure Requirements for Defined Benefit Plans." This ASU amends ASC 715 to add, remove, and clarify disclosure requirements related to defined benefit pension and other postretirement plans. The new standard is effective for fiscal years beginning after December 15, 2020. Although we are still evaluating the impact of this new standard, we do not believe that the adoption will materially impact our condensed consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU 2019-12 "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." This ASU amends ASC 740 to add, remove, and clarify disclosure requirements related to income taxes. The new standard is effective for fiscal years beginning after December 15, 2020. Although we are still evaluating the impact of this new standard, we do not believe that the adoption of this new standard will materially impact our condensed consolidated financial statements and related disclosures. In March 2020, the FASB issued ASU 2020-04 "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The ASU is intended to provide temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance became effective beginning on March 12, 2020, and we may elect to apply the amendments prospectively until December 31, 2022. As of September 30, 2020, we have not yet elected any optional expedients provided in the standard. We will apply the accounting relief, if necessary, as relevant contract and hedge accounting relationship modifications are made during the reference rate reform transition period. We do not expect this new standard to have a material impact on our consolidated financial statements.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions Perstorp Holding AB's Caprolactone Business On February 13, 2019, we completed the acquisition of 100% of the equity of Perstorp UK Ltd with Perstorp Holding AB ("Seller"), including the Seller's entire caprolactone business ("Caprolactone Business"), herein referred to as the "Caprolactone Acquisition." The Caprolactone Acquisition was completed for an aggregate purchase price of €578.9 million ($652.5 million), less assumed debt of €100.4 million ($113.1 million). At closing, the assumed debt was settled with an affiliate of the Seller. The Caprolactone Acquisition has been integrated into our Performance Chemicals segment and represented as our engineered polymers product line. As a result, we are not able to separate operating performance of the Caprolactone Acquisition from our existing Performance Chemicals' operating results. The Caprolactone Acquisition contributed Net sales of $93.2 million and $90.9 million for the nine months ended September 30, 2020 and 2019, respectively, to our consolidated operating results. Purchase Price Allocation The following table summarizes the consideration paid for the Caprolactone Business, the assets acquired, and liabilities assumed, which was finalized in Q4 2019: Purchase Price Allocation In millions Weighted Average Amortization Period Fair Value Cash and cash equivalents $ 0.7 Accounts receivable 15.7 Inventories (1) 21.7 Prepaid and other current assets 1.9 Property, plant and equipment 86.3 Operating lease assets, net 1.8 Intangible assets (2) Customer relationships 17 years 159.0 Developed technology 12 years 64.8 Brands 17 years 67.0 Non-compete agreement 3 years 0.5 Goodwill 295.1 Other assets 1.3 Total fair value of assets acquired $ 715.8 Accounts payable 13.6 Accrued expenses 2.3 Long-term debt 113.1 Operating lease liabilities 1.7 Deferred income taxes 45.7 Total fair value of liabilities assumed $ 176.4 Less: Cash and restricted cash acquired (3) (1.5) Payments for acquired businesses, net of cash acquired $ 537.9 ______________ (1) Fair value of finished goods inventories acquired included a step-up in the value of approximately $8.4 million, all of which was expensed in the three months ended March 31, 2019. The expense is included in "Cost of sales" on the condensed consolidated statement of operations. Inventories are accounted for on a first-in, first-out basis of accounting. (2) The aggregate amortization expense was $4.8 million and $3.7 million for the three months ended September 30, 2020 and 2019, respectively, and the aggregate amortization expense was $14.3 million and $9.5 million for the nine months ended September 30, 2020 and 2019, respectively. Estimated amortization expense is as follows: 2020 - $19.1 million, 2021 - $19.1 million, 2022 - $19.0 million, 2023 - $18.9 million, and 2024 - $18.9 million. The estimated pre-tax amortization expense may fluctuate due to changes in foreign currency. (3) Cash and cash equivalents and restricted cash were $0.7 million and $0.8 million, respectively, at closing. Restricted cash is included in "Prepaid and other current assets" in the above purchase price allocation. Unaudited Pro Forma Financial Information The following unaudited pro forma results of operations assume that the Caprolactone Acquisition occurred at the beginning of the periods presented. These unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations would have been if the acquisition occurred at the beginning of the periods presented, nor are they indicative of future results of operations. The pro forma results include additional interest expense on the debt issued to finance the acquisition, amortization and depreciation expense based on the estimated fair value and useful lives of intangible assets and tangible assets, and related tax effects. The pro forma results presented below are adjusted for the removal of Acquisition and other-related costs for the nine months ended September 30, 2019 of $33.3 million. In millions, except per share data Nine Months Ended September 30, 2019 Net sales $ 1,007.2 Income (loss) before income taxes 205.7 Diluted earnings (loss) per share $ 3.92 Acquisition and other-related costs Costs incurred to complete and integrate the Caprolactone Acquisition into our Performance Chemicals segment are expensed as incurred on our condensed consolidated statement of operations. The following table summarizes such costs. Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Legal and professional service fees $ — $ 1.3 $ 1.7 $ 12.2 Loss on hedging purchase price — — — 12.7 Acquisition-related costs $ — $ 1.3 $ 1.7 $ 24.9 Inventory fair value step-up amortization (1) — — — 8.4 Acquisition and other-related costs $ — $ 1.3 $ 1.7 $ 33.3 ______________ (1) Included within "Cost of sales" on the condensed consolidated statement of operations.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Ingevity's operating segments are (i) Performance Materials and (ii) Performance Chemicals. A description of both operating segments is included in Note 1. Disaggregation of Revenue The following table presents our Net sales disaggregated by product line. Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Automotive Technologies product line $ 136.9 $ 120.5 $ 324.5 $ 334.1 Process Purification product line 6.9 9.7 24.8 28.3 Performance Materials segment $ 143.8 $ 130.2 $ 349.3 $ 362.4 Oilfield Technologies product line 14.0 27.6 58.4 86.5 Pavement Technologies product line 72.5 69.8 157.1 152.9 Industrial Specialties product line 76.1 99.9 232.5 296.8 Engineered Polymers product line (1) 25.3 32.4 93.2 90.9 Performance Chemicals segment $ 187.9 $ 229.7 $ 541.2 $ 627.1 Net sales $ 331.7 $ 359.9 $ 890.5 $ 989.5 ______________ (1) Engineered Polymers product line was acquired on February 13, 2019; see Note 4 for more information. The following table presents our Net sales disaggregated by geography, based on the delivery address of our customer. Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 North America $ 191.9 $ 224.9 $ 510.3 $ 623.8 Asia Pacific 89.9 76.8 240.4 193.7 Europe, Middle East and Africa 45.5 51.6 126.0 155.4 South America 4.4 6.6 13.8 16.6 Net sales $ 331.7 $ 359.9 $ 890.5 $ 989.5 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. The contract assets are recognized as accounts receivables when the rights become unconditional 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 had no contract liabilities. Contract Asset (1) September 30, In millions 2020 2019 Beginning balance $ 6.2 $ 5.1 Contract asset additions 13.5 11.8 Reclassification to accounts receivable, billed to customers (12.9) (10.0) Ending balance $ 6.8 $ 6.9 ______________ (1) Included within "Prepaid and other current assets" on the condensed consolidated balance sheets.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Value Measurements We have categorized our assets and liabilities that are recorded at fair value, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the assets and liabilities fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying value of our financial instruments: cash and cash equivalents, other receivables, other payables and accrued liabilities, approximate their fair values due to the short-term nature of these financial instruments. See Note 10 for more information regarding our fair value measurements of our financial instruments and risk management activities. Recurring Fair Value Measurements The following information is presented for assets and liabilities that are recorded in the condensed consolidated balance sheets at fair value measured at each reporting date (i.e. on a recurring basis). There were no transfers of assets and liabilities that were recorded at fair value between Level 1 and Level 2 during the periods reported. In millions Level 1 (1) Level 2 (2) Level 3 (3) Total September 30, 2020 Assets: Equity securities (4) $ 0.1 $ — $ — $ 0.1 Deferred compensation plan investments (5) 2.3 — — 2.3 Total assets $ 2.4 $ — $ — $ 2.4 Liabilities: Deferred compensation arrangement (5) $ 10.4 $ — $ — $ 10.4 Contingent consideration (7) — — 1.1 1.1 Total liabilities $ 10.4 $ — $ 1.1 $ 11.5 December 31, 2019 Assets: Equity securities (4) $ 0.4 $ — $ — $ 0.4 Deferred compensation plan investments (5) 1.4 — — 1.4 Total assets $ 1.8 $ — $ — $ 1.8 Liabilities: Deferred compensation arrangement (5) $ 10.0 $ — $ — $ 10.0 Separation-related reimbursement awards (6) 0.1 — — 0.1 Total liabilities $ 10.1 $ — $ — $ 10.1 ______________ (1) Quoted prices in active markets for identical assets. (2) Quoted prices for similar assets and liabilities in active markets. (3) Significant unobservable inputs. (4) Included within "Prepaid and other current assets" on the condensed consolidated balance sheets. (5) Consists of a deferred compensation arrangement, through which we hold various investment securities. Both the asset and liability are recorded at fair value, and are included within "Other assets" and "Other liabilities" on the condensed consolidated balance sheets, respectively. In addition to the investment securities, we also have company-owned life insurance ("COLI") deferred compensation arrangement. COLI is recorded at cash surrender value and included in "Other assets" on the condensed consolidated balance sheets in the amount of $9.0 million and $8.4 million at September 30, 2020 and December 31, 2019, respectively. (6) Included within "Accrued expenses" on the condensed consolidated balance sheets. (7) Included within "Other liabilities" on the condensed consolidated balance sheets. Nonrecurring Fair Value Measurements The following table presents our fair value hierarchy for those assets measured at fair value on a non-recurring basis in the condensed consolidated balance sheets during the nine months ended September 30, 2020. There were no nonrecurring fair value measurements in the condensed consolidated balance sheets during the year ended December 31, 2019. In millions September 30, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) (Period Ended September 30, 2020) Assets: Impairment of operating lease assets, net (1) $ — $ — $ — $ — $ (1.7) Total assets $ — $ — $ — $ — $ (1.7) ______________ (1) During the period ended September 30, 2020 we exited certain leased assets previously used in our daily operations. These leased assets have remaining lease obligations through 2023. This impairment charge was recorded adjust their fair value on our condensed consolidated balance sheet to zero. Equity Securities The aggregate carrying value of investments in equity securities where fair value is not readily determinable totaled zero and $1.5 million as of September 30, 2020 and December 31, 2019, respectively, and is included in "Other assets" on the condensed consolidated balance sheets. During the three and nine months ended September 30, 2020, we recorded an impairment charge of zero and $1.5 million, respectively, to an equity security where fair value is not readily determinable held within our Performance Materials segment. The impairment charge represented the difference between liquidation value of the investment and our book value at the time our investment was liquidated. Restricted Investment Our restricted investment is a trust managed in order to secure repayment of the finance lease obligation, associated with Performance Materials' Wickliffe, Kentucky manufacturing site, at maturity. The trust, presented as restricted investment on our condensed consolidated balance sheets, purchased long-term bonds that mature in 2025 and 2026. The principal received at maturity of the bonds along with interest income that is reinvested in the trust are 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 as interest income and presented within interest income on our condensed consolidated statement of operations. At September 30, 2020, the book value of our restricted investment, which is accounted for as HTM and therefore held at amortized costs, was $73.0 million, net of an allowance for credit losses of $1.1 million and included cash of $1.9 million. The fair value at September 30, 2020 was $79.9 million, based on Level 1 inputs. The following table shows the total amortized cost of our HTM debt securities by credit rating, excluding the allowance for credit losses and cash. The primary factor in our expected credit loss calculation is the composite bond rating. As the rating decreases, the risk present in holding the bond is inherently increased, leading to an increase in expected credit losses. September 30, 2020 In millions AA+ AA A A- BBB+ Total HTM debt securities $ 13.5 10.7 24.2 13.4 10.4 $ 72.2 Debt Obligations At September 30, 2020, the book value of finance lease obligations was $103.3 million and the fair value was $128.4 million. The fair value of our finance lease obligations is based quoted market prices for the obligations, using Level 2 inputs. The carrying amount, excluding debt issuance fees, of our variable interest rate long-term debt was $901.8 million as of September 30, 2020. The carrying value is a reasonable estimate of the fair value of the outstanding debt based on the variable interest rate of the debt. At September 30, 2020, the book value of our fixed rate debt was $300.0 million, and the fair value was $304.1 million, based on Level 2 inputs. Contingent Consideration In connection with the acquisition of certain assets in May 2020, we are contingently obligated to make an additional payment for such assets of up to an aggregate amount of $7.0 million. The contingent consideration is payable if certain sales volume targets are achieved prior to the expiration on December 31, 2024, therein referred to as "Revenue Earn-out." The fair value of the five-year Revenue Earn-out consideration was $1.1 million at September 30, 2020. Any subsequent changes in the fair value of the contingent consideration liability will be recorded in current period earnings as a selling, general and administrative expense. The following table summarizes the activity for financial liabilities utilizing Level 3 fair value measurements: Contingent Consideration In millions September 30, 2020 Beginning balance $ — Newly issued 1.1 Change in revaluation of contingent consideration included in earnings — Exercises/settlements — Ending balance (1) $ 1.1 ______________ (1) Included within "Other liabilities" on the condensed consolidated balance sheets.

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net In millions September 30, 2020 December 31, 2019 Raw materials $ 46.5 $ 42.6 Production materials, stores and supplies 24.5 22.3 Finished and in-process goods 146.5 158.0 Subtotal 217.5 222.9 Less: adjustment of inventories to LIFO basis (13.5) (10.4) Inventories, net $ 204.0 $ 212.5

Property, Plant and Equipment,

Property, Plant and Equipment, net	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant and Equipment, net In millions September 30, 2020 December 31, 2019 Machinery and equipment $ 1,008.8 $ 964.3 Buildings and leasehold improvements 159.8 116.9 Land and land improvements 19.5 19.0 Construction in progress 83.8 119.1 Total cost 1,271.9 1,219.3 Less: accumulated depreciation (586.6) (554.6) Property, plant and equipment, net (1) $ 685.3 $ 664.7

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, net	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, net	Goodwill and Other Intangible Assets, net Goodwill Reporting Units In millions Performance Chemicals Performance Materials Total December 31, 2019 $ 432.1 $ 4.3 $ 436.4 Foreign currency translation (8.6) — (8.6) September 30, 2020 $ 423.5 $ 4.3 $ 427.8 There were no events or circumstances indicating that goodwill might be impaired as of September 30, 2020. Other Intangible Assets September 30, 2020 December 31, 2019 In millions Gross Accumulated amortization Net Gross Accumulated amortization Net Intangible assets subject to amortization Customer contracts and relationships $ 310.2 $ 67.3 $ 242.9 $ 314.5 $ 51.6 $ 262.9 Brands (1) 78.5 14.4 64.1 80.3 11.1 69.2 Developed technology 69.2 10.2 59.0 68.6 5.7 62.9 Other 2.7 2.2 0.5 2.7 1.5 1.2 Total Other intangibles, net $ 460.6 $ 94.1 $ 366.5 $ 466.1 $ 69.9 $ 396.2 _______________ (1) Represents trademarks, trade names and know-how. At September 30, 2020 and December 31, 2019 , the intangible assets subject to amortization were allocated among our business segments as follows: In millions September 30, 2020 December 31, 2019 Performance Chemicals $ 364.3 $ 396.2 Performance Materials 2.2 — Total Other intangibles, net $ 366.5 $ 396.2 The amortization expense related to our intangible assets in the table above is shown in the table below. Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Cost of sales $ — $ 0.2 $ 0.1 $ 0.5 Selling, general and administrative expenses 8.2 7.1 24.3 19.7 Total amortization expense (1) $ 8.2 $ 7.3 $ 24.4 $ 20.2 _______________ (1) See Note 4 for more information about the Caprolactone Acquisition, and the related increase in amortization expense. Based on the current carrying values of intangible assets, estimated pre-tax amortization expense for the next five years is as follows: 2020 - $32.5 million, 2021 - $31.6 million, 2022 - $31.4 million, 2023 - $31.3 million, and 2024 - $31.0 million. The estimated pre-tax amortization expense may fluctuate due to changes in foreign currency.

Financial Instruments and Risk

Financial Instruments and Risk Management	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments and Risk Management	Financial Instruments and Risk Management Net Investment Hedges We have fixed-to-fixed cross-currency interest rate swaps with an aggregate notional amount of $166.2 million and a maturity date of July 2023. We designated the swaps to hedge a portion of our net investment in a euro functional currency denominated subsidiary against foreign currency fluctuations. These contracts involve the exchange of fixed U.S. dollars with fixed euro interest payments periodically over the life of the contract and an exchange of the notional amount at maturity. This effectively converts a portion of our U.S. dollar denominated fixed-rate debt from a weighted average rate of 3.79 percent to a euro denominated weighted average fixed-rate debt at a rate of 1.35 percent. Any difference between the fixed interest rate between the U.S. dollar denominated debt to euro denominated debt is recorded as interest income on the condensed consolidated statements of operations. The fair value of the fixed-to-fixed cross currency interest rate swap was a net asset (liability) of $(0.4) million and $3.0 million at September 30, 2020 and December 31, 2019, respectively. During the three and nine months ended September 30, 2020, we recognized net interest income associated with this financial instrument of $0.2 million and $1.5 million, respectively, and during both the three and nine months ended September 30, 2019, we recognized net interest income associated with this financial instrument of $0.9 million and $1.5 million, respectively. Cash Flow Hedges Foreign Currency Exchange Risk Management We manufacture and sell our products in several countries throughout the world and, thus, we are exposed to changes in foreign currency exchange rates. To manage the volatility relating to these exposures, we net the exposures on a consolidated basis to take advantage of natural offsets. To manage the remaining exposure, from time to time, we utilize forward currency exchange contracts and zero cost collar option contracts to minimize the volatility to earnings and cash flows resulting from the effect of fluctuating foreign currency exchange rates on export sales denominated in foreign currencies (principally the euro). These contracts are generally designated as cash flow hedges. Designated cash flow hedges entered to minimize foreign currency exchange risk of forecasted revenue transactions are recorded to "Net sales" on the consolidated statement of operations when the forecasted transaction occurs. As of September 30, 2020, there were $4.0 million open foreign currency derivative contracts. The fair value of the designated foreign currency hedge contracts was an asset (liability) of $(0.1) million and zero at September 30, 2020 and December 31, 2019, respectively. Commodity Price Risk Management Certain energy sources used in our manufacturing operations are subject to price volatility caused by weather, supply and demand conditions, economic variables, and other unpredictable factors. This volatility is primarily related to the market pricing of natural gas. To mitigate expected fluctuations in market prices and the volatility to earnings and cash flow resulting from changes to pricing of natural gas purchases, from time to time, we will enter into swap contracts and zero cost collar option contracts and designate these contracts as cash flow hedges. As of September 30, 2020, we had 1.2 million and 1.1 million mmBTUS (millions of British Thermal Units) in aggregate notional volume of outstanding natural gas commodity swap contracts and zero cost collar option contracts, respectively. Designated commodity cash flow hedge gains or losses recorded in Accumulated other comprehensive income ("AOCI") are recognized in "Cost of sales" on the condensed consolidated statements of operations when the inventory is sold. As of September 30, 2020, open commodity contracts hedge forecasted transactions until November 2021. The fair value of the outstanding designated natural gas commodity hedge contracts as of September 30, 2020 and December 31, 2019 was an asset (liability) of $0.3 million and $(0.5) million, respectively. Interest Rate Risk Management Our policy is to manage interest expense using a mix of fixed and variable rate debt. To manage interest rate risk effectively, from time to time, we may enter into cash flow interest rate derivative instruments, which can consist of forward starting swaps and treasury locks. In all cases, the notional amount of the interest rate swap agreements is equal to or less than the designated debt being hedged. Designated interest rate cash flow hedge gains or losses recorded in AOCI are recognized in "Interest expense, net" on the condensed consolidated statements of operations on a straight-line basis over the remaining maturity of the underlying debt. These instruments are designated as cash flow hedges. As of September 30, 2020, we have entered into interest rate swaps with a notional amount of $166.2 million to manage the variability of cash flows in the interest rate payments associated with our existing LIBOR-based interest payments, effectively converting $166.2 million of our floating rate debt to a fixed rate. In accordance with the terms of this instrument, we receive floating rate interest payments based upon three-month U.S. dollar LIBOR and in return are obligated to pay interest at a weighted average fixed rate of 3.79 percent until July 2023. The fair value of the interest rate swap was an asset (liability) of $(9.6) million and $(3.9) million at September 30, 2020 and December 31, 2019, respectively. Effect of Cash Flow and Net Investment Hedge Accounting on AOCI In millions Amount of Gain (Loss) Recognized in AOCI Amount of Gain (Loss) Reclassified from AOCI into Net income Location of Gain (Loss) Reclassified from AOCI in Net income Three Months Ended September 30, 2020 2019 2020 2019 Cash flow hedging derivatives Currency exchange contracts $ (0.3) $ — $ (0.2) $ — Net sales Natural gas contracts 0.4 (0.2) (0.3) — Cost of sales Interest rate swap contracts 0.8 (0.9) — — Interest expense, net Total $ 0.9 $ (1.1) $ (0.5) $ — Amount of Gain (Loss) Recognized in AOCI Amount of Gain (Loss) Recognized in Income on Derivative Location of Gain or (Loss) Recognized in Income on Derivative Three Months Ended September 30, 2020 2019 2020 2019 Net investment hedging derivative Currency exchange contracts (1) $ (8.1) $ 6.9 $ 0.2 $ 0.9 Interest expense, net Total $ (8.1) $ 6.9 $ 0.2 $ 0.9 In millions Amount of Gain (Loss) Recognized in AOCI Amount of Gain (Loss) Reclassified from AOCI into Net income Location of Gain (Loss) Reclassified from AOCI in Net income Nine Months Ended September 30, 2020 2019 2020 2019 Cash flow hedging derivatives Currency exchange contracts $ (0.1) $ — $ — $ — Net sales Natural gas contracts (0.1) (0.7) (0.9) 0.6 Cost of sales Interest rate swap contracts (5.7) (5.0) — — Interest expense, net Total $ (5.9) $ (5.7) $ (0.9) $ 0.6 Amount of Gain (Loss) Recognized in AOCI Amount of Gain (Loss) Recognized in Income on Derivative Location of Gain or (Loss) Recognized in Income on Derivative Nine Months Ended September 30, 2020 2019 2020 2019 Net investment hedging derivative Currency exchange contracts (1) $ (3.5) $ 6.6 $ 1.5 $ 1.5 Interest expense, net Total $ (3.5) $ 6.6 $ 1.5 $ 1.5 __________ (1) Reclassifications from AOCI to Net Income were zero for all periods presented. Gains and losses would be reclassified from AOCI to Other (income) expense, net. Within the next twelve months, we expect to reclassify $0.1 million of net losses from AOCI to income, before taxes. Fair Value Measurements The following information is presented for derivative assets and liabilities that are recorded in the condensed consolidated balance sheets at fair value measured on a recurring basis. See Note 6 financial instruments for more information on our fair value measurements. There were no transfers of assets and liabilities that are recorded at fair value between Level 1 and Level 2 during the periods reported. There were no nonrecurring fair value measurements in the condensed consolidated balance sheets as of September 30, 2020 or December 31, 2019 relating to our derivatives. In millions Level 1 (1) Level 2 (2) Level 3 (3) Total September 30, 2020 Assets: Natural gas contracts (4) — 0.3 — 0.3 Net investment hedge (5) — 1.0 — 1.0 Total assets $ — $ 1.3 $ — $ 1.3 Liabilities: Currency exchange contracts (6) — 0.1 — 0.1 Net investment hedge (7) — 1.4 — 1.4 Interest rate swap contracts (7) — 9.6 — 9.6 Total liabilities $ — $ 11.1 $ — $ 11.1 In millions Level 1 (1) Level 2 (2) Level 3 (3) Total December 31, 2019 Assets: Net investment hedge (5) $ — $ 3.0 $ — $ 3.0 Total assets $ — $ 3.0 $ — $ 3.0 Liabilities: Natural gas contracts (6) $ — $ 0.5 $ — $ 0.5 Interest rate swap contracts (7) — 3.9 — 3.9 Total liabilities $ — $ 4.4 $ — $ 4.4 __________ (1) Quoted prices in active markets for identical assets. (2) Quoted prices for similar assets and liabilities in active markets. (3) Significant unobservable inputs. (4) Included within "Prepaid and other current assets" on the condensed consolidated balance sheet. (5) Included within "Other assets" on the condensed consolidated balance sheet. (6) Included within "Accrued expenses" on the condensed consolidated balance sheet. (7) Included within "Other liabilities" on the condensed consolidated balance sheet.

Debt including Finance Lease Ob

Debt including Finance Lease Obligations	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt including Finance Lease Obligations	Debt including Finance Lease Obligations Current and long-term debt including finance lease obligations consisted of the following: September 30, 2020 In millions, except percentages Interest rate Maturity date September 30, 2020 December 31, 2019 Revolving Credit Facility (1) 1.65% 2023 $ 170.0 $ 131.3 Term Loans 1.44% 2022-2023 726.6 740.6 Senior Notes 4.50% 2026 300.0 300.0 Finance lease obligations (2) 7.16% 2027-2035 103.3 80.0 Other 4.77% 2020-2021 5.2 5.9 Total debt including finance lease obligations 1,305.1 1,257.8 Less: debt issuance costs 5.7 6.9 Total debt, including finance lease obligations, net of debt issuance costs 1,299.4 1,250.9 Less: debt maturing within one year (3) 22.4 22.5 Long-term debt including finance lease obligations $ 1,277.0 $ 1,228.4 ______________ (1) Letters of credit outstanding under the revolving credit facility were $2.4 million and undrawn capacity under the facility was $577.6 million at September 30, 2020. (2) Includes finance lease obligations of $80.0 million related assets at our Wickliffe, Kentucky facility and $23.3 million related to our corporate headquarters. (2) Debt maturing within one year is included in "Notes payable and current maturities of long-term debt" on the condensed consolidated balance sheets. 2020 Senior Notes Issuance and Revolving Credit Facility Amendment On October 28, 2020 we issued $550.0 million aggregate principal amount of 3.875 percent senior unsecured notes due 2028. Also on October 28, 2020, we entered into an Incremental Facility Agreement and Amendment no. 5 to modify our existing credit agreement. See Note 19 for more information on both of these actions. Debt Covenants Our 4.50 percent senior unsecured notes due in 2026 (the "Senior Notes") contain certain customary covenants (including covenants limiting Ingevity's and its restricted subsidiaries’ ability to grant or permit liens on certain property securing debt, declare or pay dividends, make distributions on or repurchase or redeem capital stock, make investments in unrestricted subsidiaries, engage in sale and lease-back transactions, and engage in a consolidation or merger, or sell, transfer or otherwise dispose of all or substantially all of the assets of our and our restricted subsidiaries, taken as a whole, subject, in each of the above cases, to certain qualifications and exceptions) and events of default (subject in certain cases to customary exceptions, as well as grace and cure periods). The occurrence of an event of default under the Senior Notes could result in the acceleration of the Senior Notes and could cause a cross-default that could result in the acceleration of other indebtedness of Ingevity and its subsidiaries. The revolving credit facility and term loans contain 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 revolving credit facility and term loans could result in all loans and other obligations becoming immediately due and payable and the facilities being terminated. The revolving credit facility and term loans' financial covenants require Ingevity to maintain on a consolidated basis a maximum total 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. Our actual leverage for the four consecutive quarters ended September 30, 2020 was 3.3, and our actual interest coverage for the four consecutive quarters ended September 30, 2020 was 8.3. We were in compliance with all covenants at September 30, 2020.

Equity

Equity	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Equity	Equity The tables below provide a roll forward of equity. Common Stock In millions, except per share data in thousands Shares Amount Additional paid in capital Retained earnings Accumulated Treasury stock Total Equity Balance at December 31, 2019 42,675 $ 0.4 $ 112.8 $ 497.2 $ (5.0) $ (74.6) $ 530.8 Net income (loss) — — — 45.3 — — 45.3 Other comprehensive income (loss) — — — — (39.1) — (39.1) Common stock issued 161 — — — — — — Tax payments related to vested restricted stock units — — — — — (3.1) (3.1) Share repurchase program — — — — — (32.4) (32.4) Share-based compensation plans — — 0.8 — — 0.4 1.2 Adoption of accounting standard — — — (0.6) — — (0.6) Balance at March 31, 2020 42,836 $ 0.4 $ 113.6 $ 541.9 $ (44.1) $ (109.7) $ 502.1 Net income (loss) — — — 20.2 — — 20.2 Other comprehensive income (loss) — — — — (4.1) — (4.1) Common stock issued 5 — — — — — — Exercise of stock options, net 50 — 1.4 — — — 1.4 Tax payments related to vested restricted stock units — — — — — 0.1 0.1 Share-based compensation plans — — 1.3 — — 1.9 3.2 Balance at June 30, 2020 42,891 $ 0.4 $ 116.3 $ 562.1 $ (48.2) $ (107.7) $ 522.9 Net income (loss) — — — 69.9 — — 69.9 Other comprehensive income (loss) — — — — 22.6 — 22.6 Common stock issued 3 — — — — — — Exercise of stock options, net 1 — — — — — — Tax payments related to vested restricted stock units — — — — — (0.1) (0.1) Share-based compensation plans — — 0.5 — — 1.2 1.7 Balance at September 30, 2020 42,895 $ 0.4 $ 116.8 $ 632.0 $ (25.6) $ (106.6) $ 617.0 Common Stock In millions, except per share data in thousands Shares Amount Additional paid in capital Retained earnings Accumulated Treasury stock Total Equity Balance at December 31, 2018 42,332 $ 0.4 $ 98.3 $ 313.5 $ (17.7) $ (55.8) $ 338.7 Net income (loss) — — — 22.7 — — 22.7 Other comprehensive income (loss) — — — — 9.1 — 9.1 Common stock issued 276 — — — — — — Exercise of stock options, net 51 — 1.4 — — — 1.4 Tax payments related to vested restricted stock units — — — — — (14.3) (14.3) Share repurchase program — — — — — (3.3) (3.3) Share-based compensation plans — — 4.1 — — 0.3 4.4 Balance at March 31, 2019 42,659 $ 0.4 $ 103.8 $ 336.2 $ (8.6) $ (73.1) $ 358.7 Net income (loss) — — — 56.8 — — 56.8 Other comprehensive income (loss) — — — — (19.4) — (19.4) Common stock issued 5 — — — — — — Exercise of stock options, net 6 — 0.2 — — — 0.2 Share-based compensation plans — — 3.5 — — 0.9 4.4 Balance at June 30, 2019 42,670 $ 0.4 $ 107.5 $ 393.0 $ (28.0) $ (72.2) $ 400.7 Net income (loss) — — — 59.9 — — 59.9 Other comprehensive income (loss) — — — — (18.5) — (18.5) Exercise of stock options, net 2 — 0.1 — — — 0.1 Share repurchase program — — — — — (3.1) (3.1) Share-based compensation plans — — 3.8 — — 0.4 4.2 Balance at September 30, 2019 42,672 $ 0.4 $ 111.4 $ 452.9 $ (46.5) $ (74.9) $ 443.3 Accumulated other comprehensive income (loss) Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Foreign currency translation Beginning balance $ (36.8) $ (22.7) $ 1.5 $ (16.4) Gains (losses) on foreign currency translation 27.6 (22.9) (14.2) (29.0) Less: tax provision (benefit) — — — — Net gains (losses) on foreign currency translation 27.6 (22.9) (14.2) (29.0) Gains (losses) on net investment hedges (8.1) 6.9 (3.5) 6.6 Less: tax provision (benefit) (1.9) 1.6 (0.8) 1.5 Net gains (losses) on net investment hedges (6.2) 5.3 (2.7) 5.1 Other comprehensive income (loss), net of tax 21.4 (17.6) (16.9) (23.9) Ending balance $ (15.4) $ (40.3) $ (15.4) $ (40.3) Derivative Instruments Beginning balance $ (8.4) $ (3.6) $ (3.5) $ 0.4 Gains (losses) on derivative instruments 0.9 (1.1) (5.9) (5.7) Less: tax provision (benefit) 0.2 (0.2) (1.4) (1.3) Net gains (losses) on derivative instruments 0.7 (0.9) (4.5) (4.4) (Gains) losses reclassified to net income 0.5 — 0.9 (0.6) Less: tax (provision) benefit 0.1 — 0.2 (0.1) Net (gains) losses reclassified to net income 0.4 — 0.7 (0.5) Other comprehensive income (loss), net of tax 1.1 (0.9) (3.8) (4.9) Ending balance $ (7.3) $ (4.5) $ (7.3) $ (4.5) Pension and other postretirement benefits Beginning balance $ (3.0) $ (1.7) $ (3.0) $ (1.7) Unrealized actuarial gains (losses) and prior service (costs) credits — — — — Less: tax provision (benefit) — — — — Net actuarial gains (losses) and prior service (costs) credits — — — — Actuarial and other (gains) losses, amortization of prior service cost (credits), and settlement and curtailment (income) charge reclassified to net income 0.1 — 0.1 — Less: tax (provision) benefit — — — — Net actuarial and other (gains) losses, amortization of prior service cost (credits), and settlement and curtailment (income) charge reclassified to net income 0.1 — 0.1 — Other comprehensive income (loss), net of tax 0.1 — 0.1 — Ending balance $ (2.9) $ (1.7) $ (2.9) $ (1.7) Total AOCI ending balance at September 30 $ (25.6) $ (46.5) $ (25.6) $ (46.5) Reclassifications of accumulated other comprehensive income (loss) Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Derivative instruments Currency exchange contracts (1) $ (0.2) $ — $ — $ — Natural gas contracts (2) (0.3) — (0.9) 0.6 Total before tax (0.5) — (0.9) 0.6 (Provision) benefit for income taxes 0.1 — 0.2 (0.1) Amount included in net income (loss) $ (0.4) $ — $ (0.7) $ 0.5 Pension and other post retirement benefits Amortization of prior service costs (2) $ (0.1) $ — $ (0.1) $ — Amortization of unrecognized net actuarial and other gains (losses) (3) — — — — Total before tax (0.1) — (0.1) — (Provision) benefit for income taxes — — — — Amount included in net income (loss) $ (0.1) $ — $ (0.1) $ — ______________ (1) Included within "Net sales" on the condensed consolidated statement of operations. (2) Included within "Cost of sales" on the condensed consolidated statement of operations. (3) Included within "Other (income) expense, net" on the condensed consolidated statement of operations. Share Repurchases On February 28, 2020, our Board of Directors authorized the repurchase of up to $500.0 million of our common stock, and rescinded the prior two authorizations from 2017 and 2018 of $100.0 million and $350.0 million, respectively. The repurchase program does not include a specific timetable or price targets and may be suspended or terminated at any time. Shares may be purchased through open market or privately negotiated transactions at the discretion of management based on its evaluation of market prevailing conditions and other factors. During the three months ended September 30, 2020, no shares of our common stock were repurchased as we previously suspended share repurchases in light of the uncertainty caused by the COVID-19 pandemic. At September 30, 2020, $467.6 million remained unused under our Board-authorized repurchase program. We record shares of common stock repurchased at cost as treasury stock, resulting in a reduction of stockholders’ equity in the condensed consolidated balance sheets. When the treasury shares are contributed under our employee benefit plans or issued for option exercises, we use a first-in, first-out method for determining cost. The difference between the cost of the shares and the market price at the time of contribution to an employee benefit plan is added to or deducted from the related capital in excess of par value of common stock.

Retirement Plans

Retirement Plans	9 Months Ended
	Sep. 30, 2020
Postemployment Benefits [Abstract]
Retirement Plans	Retirement Plans The following table summarizes the components of net periodic benefit cost (income) for our defined benefit pension plans: Three Months Ended September 30, Pensions Other Benefits In millions 2020 2019 2020 2019 Components of net periodic benefit cost (income): Service cost (1) $ 0.4 $ 0.2 $ — $ — Interest cost (2) 0.3 0.3 — — Expected return on plan assets (2) (0.3) (0.2) — — Amortization of prior service cost (credit) (1) 0.1 — — — Amortization of net actuarial and other (gain) loss (2) — — — — Net periodic benefit cost (income) $ 0.5 $ 0.3 $ — $ — Nine Months Ended September 30, Pensions Other Benefits In millions 2020 2019 2020 2019 Components of net periodic benefit cost (income): Service cost (1) $ 1.2 $ 0.9 $ — $ — Interest cost (2) 0.9 0.8 — — Expected return on plan assets (2) (0.9) (0.7) — — Amortization of prior service cost (credit) (1) 0.1 — — — Amortization of net actuarial and other (gain) loss (2) — — — — Net periodic benefit cost (income) $ 1.3 $ 1.0 $ — $ — _______________ (1) Amounts are recorded to "Cost of sales" on our condensed consolidated statements of operations consistent with the employee compensation costs that participate in the plan. (2) Amounts are recorded to "Other (income) expense, net" on our condensed consolidated statements of operations. Contributions We did not make any voluntary cash contributions to our Union Hourly defined benefit pension plan in the nine months ended September 30, 2020. There are no required cash contributions to our Union Hourly defined benefit pension plan in 2020, and we currently have no plans to make any voluntary cash contributions in 2020.

Restructuring and Other (Income

Restructuring and Other (Income) Charges, net	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Other (Income) Charges, net	Restructuring and Other (Income) Charges, netWe continually perform strategic reviews and assess the return on our operations which sometimes results in a plan to restructure the business. The cost and benefit of these strategic restructuring initiatives are recorded as restructuring and other (income) charges, net in our condensed consolidated statements of operations. These costs are excluded from our operating segment results. Detail on the restructuring charges and other (income) charges, net, is provided below. Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Gain on sale of assets and businesses $ — $ — $ — $ (0.4) Severance and other employee-related costs 0.3 1.7 6.3 1.7 Other 1.7 — 1.7 0.7 Restructuring charges 2.0 1.7 8.0 2.0 Business transformation costs 3.5 — 5.3 — Other — — — — Other (income) charges, net 3.5 — 5.3 — Total restructuring and other (income) charges, net $ 5.5 $ 1.7 $ 13.3 $ 2.0 Restructuring charges 2020 activities During the second quarter of 2020, we implemented a cost reduction initiative to realign our cost structure in response to reduced demand for some of our products in response to the COVID-19 pandemic. As a result of this cost reduction initiative, we recorded $0.3 million and $6.3 million in severance and other employee-related costs in the three and nine months ended September 30, 2020, respe ctively. Additionally, during the three and nine months ended September 30, 2020, we recorded $1.7 million related to an impairment of an operating lease asset that is no longer in use. 2019 activities During the third quarter of 2019, we initiated a reorganization as part of an effort to improve our Performance Chemicals' workflow and efficiency to best serve our customers' needs and reduce costs. As a result of this reorganization, we recorded $1.7 million in severance and other employee-related costs in the three and nine months ended September 30, 2019. In April 2019, we sold assets from the Performance Chemicals derivatives operations in Palmeira, Brazil. These assets were part of a facility that was closed as a result of a restructuring event in 2016. As a result of this sale, we recorded $0.4 million as a gain on sale of assets, as well as $0.7 million related to other miscellaneous exit costs, in the nine months ended September 30, 2019. Rollforward of Restructuring Reserves The following table shows a roll forward of restructuring reserves that will result in cash spending. Balance at Change in Cash Balance at In millions 12/31/2019 (1) Reserve (2) Payments Other 9/30/2020 (1) Restructuring Reserves $ 0.4 6.3 (6.0) — $ 0.7 _______________ (1) Included in "Accrued Expenses" on the condensed consolidated balance sheets. (2) Includes severance and other employee-related costs. Other (income) charges, net Business transformation initiative costs In the first quarter of 2020, we embarked upon a business transformation initiative that includes the implementation of an upgraded enterprise resource planning ("ERP") system. This new ERP system will equip our employees with standardized processes and secure integrated technology that enable us to better understand and meet our customers' needs and compete in the marketplace. We expect this business transformation initiative and related ERP implementation to be a complex, multi-year project. It requires the integration of the new ERP system with multiple new and existing information systems and business processes, in order to maintain the accuracy of our books and records and to provide our management team with real-time information important to the operation of our business. Such an implementation initiative is a major financial undertaking and will require substantial time and attention of management and key employees. Costs incurred, during the three and nine months ended September 30, 2020, of $3.5 million and $5.3 million, respectively, represent costs directly associated with the business transformation initiative that, in accordance with GAAP, cannot be capitalized. Over the course of this initiative, we anticipate incurring approximately $60-70 million of total costs, which includes $13-16 million of non-capitalizable costs, $7-8 million of which we expect to be incurred in 2020.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rates, including discrete items, were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Effective tax rate 20.7 % 22.6 % 19.7 % 19.3 % We determine our interim tax provision using an Estimated Annual Effective Tax Rate methodology (“EAETR”). The EAETR is applied to the year-to-date ordinary income, exclusive of discrete items. The tax effects of discrete items are then included to arrive at the total reported interim tax provision. The determination of the EAETR is based upon a number of estimates, including the estimated annual pre-tax ordinary income in each tax jurisdiction in which we operate. As our projections of ordinary income change throughout the year, the EAETR will change period-to-period. The tax effects of discrete items are recognized in the tax provision in the period they occur. Depending on various factors, such as the item’s significance in relation to total income and the rate of tax applicable in the jurisdiction to which it relates, discrete items in any quarter may materially impact the reported effective tax rate. As a global enterprise, our tax expense may be impacted by changes in tax rates or laws, the finalization of tax audits and reviews, as well as other factors. As such, there may be significant volatility in interim tax provisions. The below table provides a reconciliation between our reported effective tax rates and the EAETR. Three Months Ended September 30, 2020 2019 In millions, except percentages Before tax Tax Effective tax rate % impact Before tax Tax Effective tax rate % impact Consolidated operations $ 88.1 $ 18.2 20.7 % $ 77.4 $ 17.5 22.6 % Discrete items: Restructuring and other (income) charges, net (1) 2.0 0.3 1.7 0.4 Acquisition and other-related costs (2) — — 1.3 0.4 Other tax only discrete items — (0.2) — (0.1) Total discrete items 2.0 0.1 3.0 0.7 Consolidated operations, before discrete items $ 90.1 $ 18.3 $ 80.4 $ 18.2 Quarterly effect of changes in the EAETR 20.3 % 22.6 % Nine Months Ended September 30, 2020 2019 In millions, except percentages Before tax Tax Effective tax rate % impact Before tax Tax Effective tax rate % impact Consolidated operations $ 168.7 $ 33.3 19.7 % $ 172.8 $ 33.4 19.3 % Discrete items: Restructuring and other (income) charges, net (1) 8.0 1.7 2.0 0.4 Acquisition and other-related costs (2) 1.7 0.4 33.3 6.0 Other tax only discrete items — 1.0 — 6.7 Total discrete items 9.7 3.1 35.3 13.1 Consolidated operations, before discrete items $ 178.4 $ 36.4 $ 208.1 $ 46.5 EAETR (3) 20.4 % 22.3 % _______________ (1) See Note 14 for more information on our restructuring and other (income) charges, net. (2) See Note 4 for more information on our acquisition and other-related costs. (3) Decrease in EAETR for the nine months ended September 30, 2020, as compared to September 30, 2019, is due to a change in the mix of forecasted earnings in various tax jurisdictions with varying rates, reduction of the officer’s compensation limitation due to forfeited equity awards already disallowed for tax purposes, as well as an increased benefit due to the generation of additional state tax credits as a result of the new corporate headquarters. At September 30, 2020 and December 31, 2019, we had deferred tax assets of $9.8 million and $13.0 million, respectively, resulting from certain historical net operating losses from our Brazilian operations and U.S. state tax credits for which a valuation allowance has been established. The ultimate realization of these deferred tax assets depends on the generation of future taxable income during the periods in which these net operating losses and tax credits are available to be used. In evaluating the realizability of these deferred tax assets, we consider projected future taxable income and tax planning strategies in making our assessment. As of September 30, 2020, we cannot objectively assert that these deferred tax assets are more likely than not to be realized and therefore we have maintained a valuation allowance. We intend to continue maintaining a valuation allowance on these deferred tax assets until there is sufficient evidence to support the reversal of all or some portion of these allowances. A release of all or a portion of the valuation allowance could be possible, if we determine that sufficient positive evidence becomes available to allow us to reach a conclusion that the valuation allowance will no longer be needed. A release of the valuation allowance would result in the recognition of certain deferred tax assets and a reduction to income tax

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings We are from time to time, involved in routine litigation and other legal matters incidental to our operations. None of the litigation or other legal matters in which we are currently involved, individually or in the aggregate, is material to our consolidated financial condition, liquidity, or results of operations nor are we aware of any material pending or contemplated proceedings.

Segment information

Segment information	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Net sales Performance Materials $ 143.8 $ 130.2 $ 349.3 $ 362.4 Performance Chemicals 187.9 229.7 541.2 627.1 Total net sales (1) $ 331.7 $ 359.9 $ 890.5 $ 989.5 Segment EBITDA (2) Performance Materials $ 80.4 $ 54.2 $ 164.9 $ 154.7 Performance Chemicals 47.2 59.8 122.1 151.1 Total segment EBITDA (2) $ 127.6 $ 114.0 $ 287.0 $ 305.8 Interest expense, net (8.9) (12.1) (29.8) (36.3) (Provision) benefit for income taxes (18.2) (17.5) (33.3) (33.4) Depreciation and amortization - Performance Materials (8.0) (6.0) (22.5) (17.6) Depreciation and amortization - Performance Chemicals (17.1) (15.5) (51.0) (43.8) Restructuring and other income (charges), net (3) (5.5) (1.7) (13.3) (2.0) Acquisition and other-related costs (4) — (1.3) (1.7) (33.3) Net income (loss) $ 69.9 $ 59.9 $ 135.4 $ 139.4 _______________ (1) Relates to external customers only, all intersegment sales and related profit have been eliminated in consolidation. (2) Segment EBITDA is the primary measure used by our chief operating decision maker to evaluate the performance of and allocate resources among our operating segments. Segment EBITDA is defined as segment revenue less segment operating expenses (segment operating expenses consist of costs of sales, selling, general and administrative expenses, other (income) expense, net, excluding depreciation and amortization). We have excluded the following items from segment EBITDA: interest expense, net, associated with corporate debt facilities, income taxes, depreciation, amortization, restructuring and other (income) charges, net, acquisition and other-related costs, pension and postretirement settlement and curtailment (income) charges. (3) Income (charges) for all periods presented relate to restructuring activity and costs associated with the business transformation initiative. For the three and nine months ended September 30, 2020, charges of $2.6 million and $5.4 million relate to the Performance Materials segment, respectively, and charges of $2.9 million and $7.9 million relate to the Performance Chemicals segment. For the three and nine months ended September 30, 2019, all charges relate to the Performance Chemicals segment. For more detail on the charges incurred see Note 14 within these condensed consolidated financial statements. (4) Charges associated with the acquisition and integration of the Caprolactone Business. For more detail on the charges incurred see Note 4 within these condensed consolidated financial statements.

Earnings (Loss) per Share

Earnings (Loss) per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings (Loss) per Share	Earnings (Loss) per Share Basic earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of common shares and potentially dilutive common shares outstanding for the period. The calculation of diluted net income per share excludes all antidilutive common shares. Three Months Ended September 30, Nine Months Ended September 30, In millions, except share and per share data 2020 2019 2020 2019 Net income (loss) $ 69.9 $ 59.9 $ 135.4 $ 139.4 Basic and Diluted earnings (loss) per share Basic earnings (loss) per share $ 1.69 $ 1.42 $ 3.27 $ 3.33 Diluted earnings (loss) per share 1.69 1.41 3.26 3.30 Shares (in thousands) Weighted average number of common shares outstanding - Basic 41,276 42,299 41,400 41,793 Weighted average additional shares assuming conversion of potential common shares 175 344 179 408 Shares - diluted basis 41,451 42,643 41,579 42,201 The following average number of potential common shares were antidilutive, and therefore, were not included in the diluted earnings per share calculation: Three Months Ended September 30, Nine Months Ended September 30, In thousands 2020 2019 2020 2019 Average number of potential common shares - antidilutive 173 118 205 103

Subsequent event

Subsequent event	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event 2020 Senior Notes On October 28, 2020, we issued $550.0 million aggregate principal amount of 3.875 percent senior unsecured notes due 2028 (the “Notes”). The Notes were issued pursuant to an indenture dated as of October 28, 2020 (the “Indenture”), by and among Ingevity, the subsidiary guarantors party thereto and U.S. Bank National Association, as trustee. The Notes were offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and to certain non-U.S. persons outside the U.S. pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the U.S. absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. The net proceeds from the sale of the Notes, after deducting anticipated financing fees of $8 million were approximately $542 million. We intend to use the net proceeds from the sale of the Notes to repay our existing $375.0 million term loan facility due in August 2022, with the remainder being utilized to repay outstanding balances under our revolving credit facility. Interest payments on the Notes are due semiannually in arrears on November 1st and May 1st of each year, beginning on May 1, 2021, at a rate of 3.875 percent per year. The Notes will mature on November 1, 2028.

New Accounting Guidance (Polici

New Accounting Guidance (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These unaudited condensed consolidated financial statements reflect the consolidated operations of the Company and have been prepared in accordance with United States Securities and Exchange Commission ("SEC") interim reporting requirements. Accordingly, the accompanying condensed consolidated financial statements do not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP") for full financial statements and should be read in conjunction with the Annual Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017, collectively referred to as the “Annual Consolidated Financial Statements” included in our Annual Report on Form 10-K for the year ended December 31, 2019 (the "2019 Annual Report"). In the opinion of management, the condensed consolidated financial statements contain all adjustments, which include only normal recurring adjustments, necessary to fairly state the condensed consolidated results for the interim periods presented. The consolidated results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. The preparation of the condensed consolidated financial statements requires management to make estimates and assumptions with respect to the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates. During the three and nine months ended September 30, 2020 and subsequent to this date, there have been significant changes to the global economic situation and to public securities markets as a consequence of the novel strain of coronavirus ("COVID-19") pandemic. It is reasonably possible that this could cause changes to estimates as a result of the financial circumstances of the markets in which we operate, the price of our publicly traded equity in comparison to the carrying value, and the health of the global economy. Such changes to estimates could potentially result in impacts that would be material to the condensed consolidated financial statements. While there was not a material impact to our condensed consolidated financial statements as of and for the three and nine ended September 30, 2020, our future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to our consolidated financial statements in future reporting periods. Certain prior year amounts have been reclassified to conform with the current year's presentation.
New accounting guidance	New Accounting Guidance The Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC" or "Codification") is the sole source of authoritative GAAP other than SEC issued rules and regulations that apply only to SEC registrants. The FASB issues an Accounting Standards Update ("ASU") to communicate changes to the Codification. We consider the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are not expected to have a material impact on the consolidated financial statements. Recently Adopted Accounting Pronouncements In August 2018, the FASB issued ASU 2018-15 "Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract." This ASU requires companies to defer specific implementation costs incurred in a Cloud Computing Arrangement ("CCA") that are often expensed as incurred under current GAAP, and recognize the expense over the noncancellable term of the CCA. We adopted this standard on a prospective basis on January 1, 2020. As a result of the adoption, we anticipate capitalizing certain implementation costs that were previously expensed as incurred, which will be recorded to either prepaid and other current assets or other assets on the condensed consolidated balance sheets, depending on the duration of the agreement. The impact of the adoption did not have a material impact on our condensed consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU 2016-13 “Financial Instruments – Credit losses: Measurement of Credit Losses on Financial Instruments." In 2019 and 2020, the FASB issued several ASUs to amend and clarify the credit loss guidance in the original ASU 2016-13 (ASU 2016-13 and its amendments are herein referred to as “ASC 326” or "CECL"). ASC 326 amends FASB's guidance on the impairment of financial instruments, specifically adding an impairment model to GAAP that is based on expected losses, rather than incurred losses, which is intended to result in more timely recognition of such losses. We adopted this standard on January 1, 2020. We have updated our internal controls and operational processes and procedures, to include certain forward-looking considerations in our current process of developing and recognizing credit losses for our accounts receivable and restricted investment accounted for at amortized cost. Generally, the adoption of ASC 326 did not have a material impact on our condensed consolidated balance sheet, results of operations or cash flows. ASC 326 had an immaterial impact to our allowance for credit losses reported in accounts receivable on our condensed consolidated balance sheet upon adoption. Additionally, upon adoption of ASC 326, we estimated an allowance for credit losses for our restricted investment on our condensed consolidated balance sheet. Our restricted investment, which is accounted for as a held-to-maturity investment, consists of highly rated corporate long-term bonds that mature in 2025 and 2026. To calculate our expected credit loss allowance, we utilized a probability-of-default method (“PDM”) for each bond based on each securities term. This process uses historical credit loss experience on similar product types, adjusted for reasonable and supportable forecasts of future default rates. Using a PDM, we calculated an expected credit loss allowance at January 1, 2020 of $0.6 million, which was recorded as an adjustment to the opening balance of retained earnings. The following table displays changes in our allowance for credit losses as of September 30, 2020, including the transition impact of adopting the CECL standard. (in millions) Balance at December 31, 2019 (1) Impact from Adoption of ASC 326 Balance at January 1, 2020 Current Period Provision Balance at September 30, 2020 (2) Allowance for credit losses $ 0.5 0.6 1.1 1.8 $ 2.9 ______________ (1) The allowance for credit losses at December 31, 2019 of $0.5 million was included in "Accounts receivable, net" on the condensed consolidated balance sheets. (2) The allowance for credit losses at September 30, 2020 of $1.8 million and $1.1 million was included "Accounts receivable, net" and "Restricted investment" on the condensed consolidated balance sheets, respectively. Our expected credit losses can vary from period to period based on several factors, such as changes in bond ratings, actual observed bond defaults, and overall economic environment. The primary factor that contributed to our provision for expected credit losses in the nine months ended September 30, 2020 was a pessimistic outlook of the macroeconomic environment due to the COVID-19 pandemic, and related effects on the financial performance of U.S.-based corporations. The increase in the allowance for credit losses of $1.8 million in the nine months ended September 30, 2020 is attributed to $0.5 million for Level 1 securities and $1.3 million for accounts receivable expected credit losses. Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-14 "Compensation — Retirement Benefits — Defined Benefit Plans — General (Topic 715-20): Disclosure Framework — Changes to the Disclosure Requirements for Defined Benefit Plans." This ASU amends ASC 715 to add, remove, and clarify disclosure requirements related to defined benefit pension and other postretirement plans. The new standard is effective for fiscal years beginning after December 15, 2020. Although we are still evaluating the impact of this new standard, we do not believe that the adoption will materially impact our condensed consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU 2019-12 "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." This ASU amends ASC 740 to add, remove, and clarify disclosure requirements related to income taxes. The new standard is effective for fiscal years beginning after December 15, 2020. Although we are still evaluating the impact of this new standard, we do not believe that the adoption of this new standard will materially impact our condensed consolidated financial statements and related disclosures. In March 2020, the FASB issued ASU 2020-04 "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The ASU is intended to provide temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance became effective beginning on March 12, 2020, and we may elect to apply the amendments prospectively until December 31, 2022. As of September 30, 2020, we have not yet elected any optional expedients provided in the standard. We will apply the accounting relief, if necessary, as relevant contract and hedge accounting relationship modifications are made during the reference rate reform transition period. We do not expect this new standard to have a material impact on our consolidated financial statements.
Income tax	We determine our interim tax provision using an Estimated Annual Effective Tax Rate methodology (“EAETR”). The EAETR is applied to the year-to-date ordinary income, exclusive of discrete items. The tax effects of discrete items are then included to arrive at the total reported interim tax provision. The determination of the EAETR is based upon a number of estimates, including the estimated annual pre-tax ordinary income in each tax jurisdiction in which we operate. As our projections of ordinary income change throughout the year, the EAETR will change period-to-period. The tax effects of discrete items are recognized in the tax provision in the period they occur. Depending on various factors, such as the item’s significance in relation to total income and the rate of tax applicable in the jurisdiction to which it relates, discrete items in any quarter may materially impact the reported effective tax rate. As a global enterprise, our tax expense may be impacted by changes in tax rates or laws, the finalization of tax audits and reviews, as well as other factors. As such, there may be significant volatility in interim tax provisions.

New Accounting Guidance (Tables

New Accounting Guidance (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Financing Receivable, Allowance for Credit Loss	The following table displays changes in our allowance for credit losses as of September 30, 2020, including the transition impact of adopting the CECL standard. (in millions) Balance at December 31, 2019 (1) Impact from Adoption of ASC 326 Balance at January 1, 2020 Current Period Provision Balance at September 30, 2020 (2) Allowance for credit losses $ 0.5 0.6 1.1 1.8 $ 2.9 ______________ (1) The allowance for credit losses at December 31, 2019 of $0.5 million was included in "Accounts receivable, net" on the condensed consolidated balance sheets.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the consideration paid for the Caprolactone Business, the assets acquired, and liabilities assumed, which was finalized in Q4 2019: Purchase Price Allocation In millions Weighted Average Amortization Period Fair Value Cash and cash equivalents $ 0.7 Accounts receivable 15.7 Inventories (1) 21.7 Prepaid and other current assets 1.9 Property, plant and equipment 86.3 Operating lease assets, net 1.8 Intangible assets (2) Customer relationships 17 years 159.0 Developed technology 12 years 64.8 Brands 17 years 67.0 Non-compete agreement 3 years 0.5 Goodwill 295.1 Other assets 1.3 Total fair value of assets acquired $ 715.8 Accounts payable 13.6 Accrued expenses 2.3 Long-term debt 113.1 Operating lease liabilities 1.7 Deferred income taxes 45.7 Total fair value of liabilities assumed $ 176.4 Less: Cash and restricted cash acquired (3) (1.5) Payments for acquired businesses, net of cash acquired $ 537.9 ______________ (1) Fair value of finished goods inventories acquired included a step-up in the value of approximately $8.4 million, all of which was expensed in the three months ended March 31, 2019. The expense is included in "Cost of sales" on the condensed consolidated statement of operations. Inventories are accounted for on a first-in, first-out basis of accounting. (2) The aggregate amortization expense was $4.8 million and $3.7 million for the three months ended September 30, 2020 and 2019, respectively, and the aggregate amortization expense was $14.3 million and $9.5 million for the nine months ended September 30, 2020 and 2019, respectively. Estimated amortization expense is as follows: 2020 - $19.1 million, 2021 - $19.1 million, 2022 - $19.0 million, 2023 - $18.9 million, and 2024 - $18.9 million. The estimated pre-tax amortization expense may fluctuate due to changes in foreign currency. (3) Cash and cash equivalents and restricted cash were $0.7 million and $0.8 million, respectively, at closing. Restricted cash is included in "Prepaid and other current assets" in the above purchase price allocation.
Business Acquisition, Pro Forma Information	The pro forma results presented below are adjusted for the removal of Acquisition and other-related costs for the nine months ended September 30, 2019 of $33.3 million. In millions, except per share data Nine Months Ended September 30, 2019 Net sales $ 1,007.2 Income (loss) before income taxes 205.7 Diluted earnings (loss) per share $ 3.92
Restructuring and Related Costs	The following table summarizes such costs. Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Legal and professional service fees $ — $ 1.3 $ 1.7 $ 12.2 Loss on hedging purchase price — — — 12.7 Acquisition-related costs $ — $ 1.3 $ 1.7 $ 24.9 Inventory fair value step-up amortization (1) — — — 8.4 Acquisition and other-related costs $ — $ 1.3 $ 1.7 $ 33.3 ______________ (1) Included within "Cost of sales" on the condensed consolidated statement of operations.

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents our Net sales disaggregated by product line. Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Automotive Technologies product line $ 136.9 $ 120.5 $ 324.5 $ 334.1 Process Purification product line 6.9 9.7 24.8 28.3 Performance Materials segment $ 143.8 $ 130.2 $ 349.3 $ 362.4 Oilfield Technologies product line 14.0 27.6 58.4 86.5 Pavement Technologies product line 72.5 69.8 157.1 152.9 Industrial Specialties product line 76.1 99.9 232.5 296.8 Engineered Polymers product line (1) 25.3 32.4 93.2 90.9 Performance Chemicals segment $ 187.9 $ 229.7 $ 541.2 $ 627.1 Net sales $ 331.7 $ 359.9 $ 890.5 $ 989.5 ______________ (1) Engineered Polymers product line was acquired on February 13, 2019; see Note 4 for more information. The following table presents our Net sales disaggregated by geography, based on the delivery address of our customer. Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 North America $ 191.9 $ 224.9 $ 510.3 $ 623.8 Asia Pacific 89.9 76.8 240.4 193.7 Europe, Middle East and Africa 45.5 51.6 126.0 155.4 South America 4.4 6.6 13.8 16.6 Net sales $ 331.7 $ 359.9 $ 890.5 $ 989.5
Contract with Customer, Asset and Liability	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. The contract assets are recognized as accounts receivables when the rights become unconditional 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 had no contract liabilities. Contract Asset (1) September 30, In millions 2020 2019 Beginning balance $ 6.2 $ 5.1 Contract asset additions 13.5 11.8 Reclassification to accounts receivable, billed to customers (12.9) (10.0) Ending balance $ 6.8 $ 6.9 ______________ (1) Included within "Prepaid and other current assets" on the condensed consolidated balance sheets.

Fair Value Measures and Disclos

Fair Value Measures and Disclosures (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring	The following information is presented for assets and liabilities that are recorded in the condensed consolidated balance sheets at fair value measured at each reporting date (i.e. on a recurring basis). There were no transfers of assets and liabilities that were recorded at fair value between Level 1 and Level 2 during the periods reported. In millions Level 1 (1) Level 2 (2) Level 3 (3) Total September 30, 2020 Assets: Equity securities (4) $ 0.1 $ — $ — $ 0.1 Deferred compensation plan investments (5) 2.3 — — 2.3 Total assets $ 2.4 $ — $ — $ 2.4 Liabilities: Deferred compensation arrangement (5) $ 10.4 $ — $ — $ 10.4 Contingent consideration (7) — — 1.1 1.1 Total liabilities $ 10.4 $ — $ 1.1 $ 11.5 December 31, 2019 Assets: Equity securities (4) $ 0.4 $ — $ — $ 0.4 Deferred compensation plan investments (5) 1.4 — — 1.4 Total assets $ 1.8 $ — $ — $ 1.8 Liabilities: Deferred compensation arrangement (5) $ 10.0 $ — $ — $ 10.0 Separation-related reimbursement awards (6) 0.1 — — 0.1 Total liabilities $ 10.1 $ — $ — $ 10.1 ______________ (1) Quoted prices in active markets for identical assets. (2) Quoted prices for similar assets and liabilities in active markets. (3) Significant unobservable inputs. (4) Included within "Prepaid and other current assets" on the condensed consolidated balance sheets. (5) Consists of a deferred compensation arrangement, through which we hold various investment securities. Both the asset and liability are recorded at fair value, and are included within "Other assets" and "Other liabilities" on the condensed consolidated balance sheets, respectively. In addition to the investment securities, we also have company-owned life insurance ("COLI") deferred compensation arrangement. COLI is recorded at cash surrender value and included in "Other assets" on the condensed consolidated balance sheets in the amount of $9.0 million and $8.4 million at September 30, 2020 and December 31, 2019, respectively. (6) Included within "Accrued expenses" on the condensed consolidated balance sheets. (7) Included within "Other liabilities" on the condensed consolidated balance sheets.
Fair Value Measurements, Nonrecurring	The following table presents our fair value hierarchy for those assets measured at fair value on a non-recurring basis in the condensed consolidated balance sheets during the nine months ended September 30, 2020. There were no nonrecurring fair value measurements in the condensed consolidated balance sheets during the year ended December 31, 2019. In millions September 30, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) (Period Ended September 30, 2020) Assets: Impairment of operating lease assets, net (1) $ — $ — $ — $ — $ (1.7) Total assets $ — $ — $ — $ — $ (1.7) ______________ (1) During the period ended September 30, 2020 we exited certain leased assets previously used in our daily operations. These leased assets have remaining lease obligations through 2023. This impairment charge was recorded adjust their fair value on our condensed consolidated balance sheet to zero.
Debt Securities, Held-to-maturity, Credit Quality Indicator	The following table shows the total amortized cost of our HTM debt securities by credit rating, excluding the allowance for credit losses and cash. The primary factor in our expected credit loss calculation is the composite bond rating. As the rating decreases, the risk present in holding the bond is inherently increased, leading to an increase in expected credit losses. September 30, 2020 In millions AA+ AA A A- BBB+ Total HTM debt securities $ 13.5 10.7 24.2 13.4 10.4 $ 72.2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following table summarizes the activity for financial liabilities utilizing Level 3 fair value measurements: Contingent Consideration In millions September 30, 2020 Beginning balance $ — Newly issued 1.1 Change in revaluation of contingent consideration included in earnings — Exercises/settlements — Ending balance (1) $ 1.1 ______________ (1) Included within "Other liabilities" on the condensed consolidated balance sheets.

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	In millions September 30, 2020 December 31, 2019 Raw materials $ 46.5 $ 42.6 Production materials, stores and supplies 24.5 22.3 Finished and in-process goods 146.5 158.0 Subtotal 217.5 222.9 Less: adjustment of inventories to LIFO basis (13.5) (10.4) Inventories, net $ 204.0 $ 212.5

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	In millions September 30, 2020 December 31, 2019 Machinery and equipment $ 1,008.8 $ 964.3 Buildings and leasehold improvements 159.8 116.9 Land and land improvements 19.5 19.0 Construction in progress 83.8 119.1 Total cost 1,271.9 1,219.3 Less: accumulated depreciation (586.6) (554.6) Property, plant and equipment, net (1) $ 685.3 $ 664.7

Goodwill and other intangible_2

Goodwill and other intangible assets, net (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Reporting Units In millions Performance Chemicals Performance Materials Total December 31, 2019 $ 432.1 $ 4.3 $ 436.4 Foreign currency translation (8.6) — (8.6) September 30, 2020 $ 423.5 $ 4.3 $ 427.8
Schedule of Finite-Lived Intangible Assets	September 30, 2020 December 31, 2019 In millions Gross Accumulated amortization Net Gross Accumulated amortization Net Intangible assets subject to amortization Customer contracts and relationships $ 310.2 $ 67.3 $ 242.9 $ 314.5 $ 51.6 $ 262.9 Brands (1) 78.5 14.4 64.1 80.3 11.1 69.2 Developed technology 69.2 10.2 59.0 68.6 5.7 62.9 Other 2.7 2.2 0.5 2.7 1.5 1.2 Total Other intangibles, net $ 460.6 $ 94.1 $ 366.5 $ 466.1 $ 69.9 $ 396.2 _______________ (1) Represents trademarks, trade names and know-how. At September 30, 2020 and December 31, 2019 , the intangible assets subject to amortization were allocated among our business segments as follows: In millions September 30, 2020 December 31, 2019 Performance Chemicals $ 364.3 $ 396.2 Performance Materials 2.2 — Total Other intangibles, net $ 366.5 $ 396.2
Finite-lived Intangible Assets Amortization Expense	The amortization expense related to our intangible assets in the table above is shown in the table below. Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Cost of sales $ — $ 0.2 $ 0.1 $ 0.5 Selling, general and administrative expenses 8.2 7.1 24.3 19.7 Total amortization expense (1) $ 8.2 $ 7.3 $ 24.4 $ 20.2 _______________ (1) See Note 4 for more information about the Caprolactone Acquisition, and the related increase in amortization expense.

Financial Instruments and Ris_2

Financial Instruments and Risk Management (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Effect of Cash Flow and Net Investment Hedge Accounting on Accumulated Other Comprehensive Income	In millions Amount of Gain (Loss) Recognized in AOCI Amount of Gain (Loss) Reclassified from AOCI into Net income Location of Gain (Loss) Reclassified from AOCI in Net income Three Months Ended September 30, 2020 2019 2020 2019 Cash flow hedging derivatives Currency exchange contracts $ (0.3) $ — $ (0.2) $ — Net sales Natural gas contracts 0.4 (0.2) (0.3) — Cost of sales Interest rate swap contracts 0.8 (0.9) — — Interest expense, net Total $ 0.9 $ (1.1) $ (0.5) $ — Amount of Gain (Loss) Recognized in AOCI Amount of Gain (Loss) Recognized in Income on Derivative Location of Gain or (Loss) Recognized in Income on Derivative Three Months Ended September 30, 2020 2019 2020 2019 Net investment hedging derivative Currency exchange contracts (1) $ (8.1) $ 6.9 $ 0.2 $ 0.9 Interest expense, net Total $ (8.1) $ 6.9 $ 0.2 $ 0.9 In millions Amount of Gain (Loss) Recognized in AOCI Amount of Gain (Loss) Reclassified from AOCI into Net income Location of Gain (Loss) Reclassified from AOCI in Net income Nine Months Ended September 30, 2020 2019 2020 2019 Cash flow hedging derivatives Currency exchange contracts $ (0.1) $ — $ — $ — Net sales Natural gas contracts (0.1) (0.7) (0.9) 0.6 Cost of sales Interest rate swap contracts (5.7) (5.0) — — Interest expense, net Total $ (5.9) $ (5.7) $ (0.9) $ 0.6 Amount of Gain (Loss) Recognized in AOCI Amount of Gain (Loss) Recognized in Income on Derivative Location of Gain or (Loss) Recognized in Income on Derivative Nine Months Ended September 30, 2020 2019 2020 2019 Net investment hedging derivative Currency exchange contracts (1) $ (3.5) $ 6.6 $ 1.5 $ 1.5 Interest expense, net Total $ (3.5) $ 6.6 $ 1.5 $ 1.5 __________
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	In millions Level 1 (1) Level 2 (2) Level 3 (3) Total September 30, 2020 Assets: Natural gas contracts (4) — 0.3 — 0.3 Net investment hedge (5) — 1.0 — 1.0 Total assets $ — $ 1.3 $ — $ 1.3 Liabilities: Currency exchange contracts (6) — 0.1 — 0.1 Net investment hedge (7) — 1.4 — 1.4 Interest rate swap contracts (7) — 9.6 — 9.6 Total liabilities $ — $ 11.1 $ — $ 11.1 In millions Level 1 (1) Level 2 (2) Level 3 (3) Total December 31, 2019 Assets: Net investment hedge (5) $ — $ 3.0 $ — $ 3.0 Total assets $ — $ 3.0 $ — $ 3.0 Liabilities: Natural gas contracts (6) $ — $ 0.5 $ — $ 0.5 Interest rate swap contracts (7) — 3.9 — 3.9 Total liabilities $ — $ 4.4 $ — $ 4.4 __________ (1) Quoted prices in active markets for identical assets. (2) Quoted prices for similar assets and liabilities in active markets. (3) Significant unobservable inputs. (4) Included within "Prepaid and other current assets" on the condensed consolidated balance sheet. (5) Included within "Other assets" on the condensed consolidated balance sheet. (6) Included within "Accrued expenses" on the condensed consolidated balance sheet. (7) Included within "Other liabilities" on the condensed consolidated balance sheet.

Debt including Finance Lease _2

Debt including Finance Lease Obligations (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Current and long-term debt including finance lease obligations consisted of the following: September 30, 2020 In millions, except percentages Interest rate Maturity date September 30, 2020 December 31, 2019 Revolving Credit Facility (1) 1.65% 2023 $ 170.0 $ 131.3 Term Loans 1.44% 2022-2023 726.6 740.6 Senior Notes 4.50% 2026 300.0 300.0 Finance lease obligations (2) 7.16% 2027-2035 103.3 80.0 Other 4.77% 2020-2021 5.2 5.9 Total debt including finance lease obligations 1,305.1 1,257.8 Less: debt issuance costs 5.7 6.9 Total debt, including finance lease obligations, net of debt issuance costs 1,299.4 1,250.9 Less: debt maturing within one year (3) 22.4 22.5 Long-term debt including finance lease obligations $ 1,277.0 $ 1,228.4 ______________ (1) Letters of credit outstanding under the revolving credit facility were $2.4 million and undrawn capacity under the facility was $577.6 million at September 30, 2020. (2) Includes finance lease obligations of $80.0 million related assets at our Wickliffe, Kentucky facility and $23.3 million related to our corporate headquarters. (2) Debt maturing within one year is included in "Notes payable and current maturities of long-term debt" on the condensed consolidated balance sheets.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Schedule of Stockholders' Equity	The tables below provide a roll forward of equity. Common Stock In millions, except per share data in thousands Shares Amount Additional paid in capital Retained earnings Accumulated Treasury stock Total Equity Balance at December 31, 2019 42,675 $ 0.4 $ 112.8 $ 497.2 $ (5.0) $ (74.6) $ 530.8 Net income (loss) — — — 45.3 — — 45.3 Other comprehensive income (loss) — — — — (39.1) — (39.1) Common stock issued 161 — — — — — — Tax payments related to vested restricted stock units — — — — — (3.1) (3.1) Share repurchase program — — — — — (32.4) (32.4) Share-based compensation plans — — 0.8 — — 0.4 1.2 Adoption of accounting standard — — — (0.6) — — (0.6) Balance at March 31, 2020 42,836 $ 0.4 $ 113.6 $ 541.9 $ (44.1) $ (109.7) $ 502.1 Net income (loss) — — — 20.2 — — 20.2 Other comprehensive income (loss) — — — — (4.1) — (4.1) Common stock issued 5 — — — — — — Exercise of stock options, net 50 — 1.4 — — — 1.4 Tax payments related to vested restricted stock units — — — — — 0.1 0.1 Share-based compensation plans — — 1.3 — — 1.9 3.2 Balance at June 30, 2020 42,891 $ 0.4 $ 116.3 $ 562.1 $ (48.2) $ (107.7) $ 522.9 Net income (loss) — — — 69.9 — — 69.9 Other comprehensive income (loss) — — — — 22.6 — 22.6 Common stock issued 3 — — — — — — Exercise of stock options, net 1 — — — — — — Tax payments related to vested restricted stock units — — — — — (0.1) (0.1) Share-based compensation plans — — 0.5 — — 1.2 1.7 Balance at September 30, 2020 42,895 $ 0.4 $ 116.8 $ 632.0 $ (25.6) $ (106.6) $ 617.0 Common Stock In millions, except per share data in thousands Shares Amount Additional paid in capital Retained earnings Accumulated Treasury stock Total Equity Balance at December 31, 2018 42,332 $ 0.4 $ 98.3 $ 313.5 $ (17.7) $ (55.8) $ 338.7 Net income (loss) — — — 22.7 — — 22.7 Other comprehensive income (loss) — — — — 9.1 — 9.1 Common stock issued 276 — — — — — — Exercise of stock options, net 51 — 1.4 — — — 1.4 Tax payments related to vested restricted stock units — — — — — (14.3) (14.3) Share repurchase program — — — — — (3.3) (3.3) Share-based compensation plans — — 4.1 — — 0.3 4.4 Balance at March 31, 2019 42,659 $ 0.4 $ 103.8 $ 336.2 $ (8.6) $ (73.1) $ 358.7 Net income (loss) — — — 56.8 — — 56.8 Other comprehensive income (loss) — — — — (19.4) — (19.4) Common stock issued 5 — — — — — — Exercise of stock options, net 6 — 0.2 — — — 0.2 Share-based compensation plans — — 3.5 — — 0.9 4.4 Balance at June 30, 2019 42,670 $ 0.4 $ 107.5 $ 393.0 $ (28.0) $ (72.2) $ 400.7 Net income (loss) — — — 59.9 — — 59.9 Other comprehensive income (loss) — — — — (18.5) — (18.5) Exercise of stock options, net 2 — 0.1 — — — 0.1 Share repurchase program — — — — — (3.1) (3.1) Share-based compensation plans — — 3.8 — — 0.4 4.2 Balance at September 30, 2019 42,672 $ 0.4 $ 111.4 $ 452.9 $ (46.5) $ (74.9) $ 443.3
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss) Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Foreign currency translation Beginning balance $ (36.8) $ (22.7) $ 1.5 $ (16.4) Gains (losses) on foreign currency translation 27.6 (22.9) (14.2) (29.0) Less: tax provision (benefit) — — — — Net gains (losses) on foreign currency translation 27.6 (22.9) (14.2) (29.0) Gains (losses) on net investment hedges (8.1) 6.9 (3.5) 6.6 Less: tax provision (benefit) (1.9) 1.6 (0.8) 1.5 Net gains (losses) on net investment hedges (6.2) 5.3 (2.7) 5.1 Other comprehensive income (loss), net of tax 21.4 (17.6) (16.9) (23.9) Ending balance $ (15.4) $ (40.3) $ (15.4) $ (40.3) Derivative Instruments Beginning balance $ (8.4) $ (3.6) $ (3.5) $ 0.4 Gains (losses) on derivative instruments 0.9 (1.1) (5.9) (5.7) Less: tax provision (benefit) 0.2 (0.2) (1.4) (1.3) Net gains (losses) on derivative instruments 0.7 (0.9) (4.5) (4.4) (Gains) losses reclassified to net income 0.5 — 0.9 (0.6) Less: tax (provision) benefit 0.1 — 0.2 (0.1) Net (gains) losses reclassified to net income 0.4 — 0.7 (0.5) Other comprehensive income (loss), net of tax 1.1 (0.9) (3.8) (4.9) Ending balance $ (7.3) $ (4.5) $ (7.3) $ (4.5) Pension and other postretirement benefits Beginning balance $ (3.0) $ (1.7) $ (3.0) $ (1.7) Unrealized actuarial gains (losses) and prior service (costs) credits — — — — Less: tax provision (benefit) — — — — Net actuarial gains (losses) and prior service (costs) credits — — — — Actuarial and other (gains) losses, amortization of prior service cost (credits), and settlement and curtailment (income) charge reclassified to net income 0.1 — 0.1 — Less: tax (provision) benefit — — — — Net actuarial and other (gains) losses, amortization of prior service cost (credits), and settlement and curtailment (income) charge reclassified to net income 0.1 — 0.1 — Other comprehensive income (loss), net of tax 0.1 — 0.1 — Ending balance $ (2.9) $ (1.7) $ (2.9) $ (1.7) Total AOCI ending balance at September 30 $ (25.6) $ (46.5) $ (25.6) $ (46.5) Reclassifications of accumulated other comprehensive income (loss) Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Derivative instruments Currency exchange contracts (1) $ (0.2) $ — $ — $ — Natural gas contracts (2) (0.3) — (0.9) 0.6 Total before tax (0.5) — (0.9) 0.6 (Provision) benefit for income taxes 0.1 — 0.2 (0.1) Amount included in net income (loss) $ (0.4) $ — $ (0.7) $ 0.5 Pension and other post retirement benefits Amortization of prior service costs (2) $ (0.1) $ — $ (0.1) $ — Amortization of unrecognized net actuarial and other gains (losses) (3) — — — — Total before tax (0.1) — (0.1) — (Provision) benefit for income taxes — — — — Amount included in net income (loss) $ (0.1) $ — $ (0.1) $ — ______________ (1) Included within "Net sales" on the condensed consolidated statement of operations. (2) Included within "Cost of sales" on the condensed consolidated statement of operations. (3) Included within "Other (income) expense, net" on the condensed consolidated statement of operations.

Retirement Plans (Tables)

Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Postemployment Benefits [Abstract]
Schedule of Defined Benefit Plans Disclosures	The following table summarizes the components of net periodic benefit cost (income) for our defined benefit pension plans: Three Months Ended September 30, Pensions Other Benefits In millions 2020 2019 2020 2019 Components of net periodic benefit cost (income): Service cost (1) $ 0.4 $ 0.2 $ — $ — Interest cost (2) 0.3 0.3 — — Expected return on plan assets (2) (0.3) (0.2) — — Amortization of prior service cost (credit) (1) 0.1 — — — Amortization of net actuarial and other (gain) loss (2) — — — — Net periodic benefit cost (income) $ 0.5 $ 0.3 $ — $ — Nine Months Ended September 30, Pensions Other Benefits In millions 2020 2019 2020 2019 Components of net periodic benefit cost (income): Service cost (1) $ 1.2 $ 0.9 $ — $ — Interest cost (2) 0.9 0.8 — — Expected return on plan assets (2) (0.9) (0.7) — — Amortization of prior service cost (credit) (1) 0.1 — — — Amortization of net actuarial and other (gain) loss (2) — — — — Net periodic benefit cost (income) $ 1.3 $ 1.0 $ — $ — _______________ (1) Amounts are recorded to "Cost of sales" on our condensed consolidated statements of operations consistent with the employee compensation costs that participate in the plan.

Restructuring and Other (Inco_2

Restructuring and Other (Income) Charges, net (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	Detail on the restructuring charges and other (income) charges, net, is provided below. Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Gain on sale of assets and businesses $ — $ — $ — $ (0.4) Severance and other employee-related costs 0.3 1.7 6.3 1.7 Other 1.7 — 1.7 0.7 Restructuring charges 2.0 1.7 8.0 2.0 Business transformation costs 3.5 — 5.3 — Other — — — — Other (income) charges, net 3.5 — 5.3 — Total restructuring and other (income) charges, net $ 5.5 $ 1.7 $ 13.3 $ 2.0 The following table shows a roll forward of restructuring reserves that will result in cash spending. Balance at Change in Cash Balance at In millions 12/31/2019 (1) Reserve (2) Payments Other 9/30/2020 (1) Restructuring Reserves $ 0.4 6.3 (6.0) — $ 0.7 _______________ (1) Included in "Accrued Expenses" on the condensed consolidated balance sheets. (2) Includes severance and other employee-related costs.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The effective tax rates, including discrete items, were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Effective tax rate 20.7 % 22.6 % 19.7 % 19.3 % The below table provides a reconciliation between our reported effective tax rates and the EAETR. Three Months Ended September 30, 2020 2019 In millions, except percentages Before tax Tax Effective tax rate % impact Before tax Tax Effective tax rate % impact Consolidated operations $ 88.1 $ 18.2 20.7 % $ 77.4 $ 17.5 22.6 % Discrete items: Restructuring and other (income) charges, net (1) 2.0 0.3 1.7 0.4 Acquisition and other-related costs (2) — — 1.3 0.4 Other tax only discrete items — (0.2) — (0.1) Total discrete items 2.0 0.1 3.0 0.7 Consolidated operations, before discrete items $ 90.1 $ 18.3 $ 80.4 $ 18.2 Quarterly effect of changes in the EAETR 20.3 % 22.6 % Nine Months Ended September 30, 2020 2019 In millions, except percentages Before tax Tax Effective tax rate % impact Before tax Tax Effective tax rate % impact Consolidated operations $ 168.7 $ 33.3 19.7 % $ 172.8 $ 33.4 19.3 % Discrete items: Restructuring and other (income) charges, net (1) 8.0 1.7 2.0 0.4 Acquisition and other-related costs (2) 1.7 0.4 33.3 6.0 Other tax only discrete items — 1.0 — 6.7 Total discrete items 9.7 3.1 35.3 13.1 Consolidated operations, before discrete items $ 178.4 $ 36.4 $ 208.1 $ 46.5 EAETR (3) 20.4 % 22.3 % _______________ (1) See Note 14 for more information on our restructuring and other (income) charges, net. (2) See Note 4 for more information on our acquisition and other-related costs.

Segment information (Tables)

Segment information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Three Months Ended September 30, Nine Months Ended September 30, In millions 2020 2019 2020 2019 Net sales Performance Materials $ 143.8 $ 130.2 $ 349.3 $ 362.4 Performance Chemicals 187.9 229.7 541.2 627.1 Total net sales (1) $ 331.7 $ 359.9 $ 890.5 $ 989.5 Segment EBITDA (2) Performance Materials $ 80.4 $ 54.2 $ 164.9 $ 154.7 Performance Chemicals 47.2 59.8 122.1 151.1 Total segment EBITDA (2) $ 127.6 $ 114.0 $ 287.0 $ 305.8 Interest expense, net (8.9) (12.1) (29.8) (36.3) (Provision) benefit for income taxes (18.2) (17.5) (33.3) (33.4) Depreciation and amortization - Performance Materials (8.0) (6.0) (22.5) (17.6) Depreciation and amortization - Performance Chemicals (17.1) (15.5) (51.0) (43.8) Restructuring and other income (charges), net (3) (5.5) (1.7) (13.3) (2.0) Acquisition and other-related costs (4) — (1.3) (1.7) (33.3) Net income (loss) $ 69.9 $ 59.9 $ 135.4 $ 139.4 _______________ (1) Relates to external customers only, all intersegment sales and related profit have been eliminated in consolidation. (2) Segment EBITDA is the primary measure used by our chief operating decision maker to evaluate the performance of and allocate resources among our operating segments. Segment EBITDA is defined as segment revenue less segment operating expenses (segment operating expenses consist of costs of sales, selling, general and administrative expenses, other (income) expense, net, excluding depreciation and amortization). We have excluded the following items from segment EBITDA: interest expense, net, associated with corporate debt facilities, income taxes, depreciation, amortization, restructuring and other (income) charges, net, acquisition and other-related costs, pension and postretirement settlement and curtailment (income) charges. (3) Income (charges) for all periods presented relate to restructuring activity and costs associated with the business transformation initiative. For the three and nine months ended September 30, 2020, charges of $2.6 million and $5.4 million relate to the Performance Materials segment, respectively, and charges of $2.9 million and $7.9 million relate to the Performance Chemicals segment. For the three and nine months ended September 30, 2019, all charges relate to the Performance Chemicals segment. For more detail on the charges incurred see Note 14 within these condensed consolidated financial statements. (4) Charges associated with the acquisition and integration of the Caprolactone Business. For more detail on the charges incurred see Note 4 within these condensed consolidated financial statements.

Earnings (Loss) per Share (Tabl

Earnings (Loss) per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended September 30, Nine Months Ended September 30, In millions, except share and per share data 2020 2019 2020 2019 Net income (loss) $ 69.9 $ 59.9 $ 135.4 $ 139.4 Basic and Diluted earnings (loss) per share Basic earnings (loss) per share $ 1.69 $ 1.42 $ 3.27 $ 3.33 Diluted earnings (loss) per share 1.69 1.41 3.26 3.30 Shares (in thousands) Weighted average number of common shares outstanding - Basic 41,276 42,299 41,400 41,793 Weighted average additional shares assuming conversion of potential common shares 175 344 179 408 Shares - diluted basis 41,451 42,643 41,579 42,201
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following average number of potential common shares were antidilutive, and therefore, were not included in the diluted earnings per share calculation: Three Months Ended September 30, Nine Months Ended September 30, In thousands 2020 2019 2020 2019 Average number of potential common shares - antidilutive 173 118 205 103

Description of Business and B_2

Description of Business and Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2020segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of business segments	2

Coronavirus Pandemic (Details)

Coronavirus Pandemic (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Unusual or Infrequent Items, or Both [Abstract]
Deferred tax payable		$ 5.3	$ 5.3
Proceeds from line of credit	$ 250
Line of Credit Facility
Repayments of lines of credit			307.3	$ 596
Revolving Credit Facility
Line of Credit Facility
Repayments of lines of credit		$ 50	$ 205

Accounting Policies - Allowance

Accounting Policies - Allowance for Credit Loss (Details) - USD ($) $ in Millions	Jan. 01, 2020	Sep. 30, 2020	Sep. 30, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 0.5	$ 0.5
Impact from Adoption of ASC 326	0.6
Current Period Provision		1.8
Ending balance	1.1	2.9
Allowance for doubtful accounts	1.1	2.9	$ 2.9
Financing receivable, credit loss, expense (reversal)		1.8
Accounts receivable, allowance for credit loss			1.3
Level 1
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Current Period Provision		0.5
Financing receivable, credit loss, expense (reversal)		0.5
Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	0.5	0.5
Ending balance		1.8
Allowance for doubtful accounts	$ 0.5	0.5	1.8
Restricted Investment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance		1.1
Allowance for doubtful accounts		$ 1.1	$ 1.1

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) € in Millions, $ in Millions	Feb. 13, 2019EUR (€)	Feb. 13, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Feb. 13, 2019USD ($)
Business Acquisition [Line Items]
Acquisition and other-related costs			$ 0	$ 1.3	$ 1.7	$ 33.3
Caprolactone Acquisition
Business Acquisition [Line Items]
Interest acquired	100.00%						100.00%
Payments to acquire businesses, gross	€ 578.9	$ 652.5
Total cash paid	€ 100.4						$ 113.1
Revenues					$ 93.2	$ 90.9

Acquisitions (Schedule of Recog

Acquisitions (Schedule of Recognized Identified Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Millions	Feb. 13, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Mar. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 427.8		$ 427.8		$ 436.4
Amortization expense		8.2	$ 7.3	24.4	$ 20.2
2020 amortization expense		32.5		32.5
2021 amortization expense		31.6		31.6
2022 amortization expense		31.4		31.4
2023 amortization expense		31.3		31.3
2024 amortization expense		31		31
Cash and cash equivalents		198.2	75.6	198.2	75.6	$ 56.5
Caprolactone
Business Acquisition [Line Items]
Cash and cash equivalents	$ 0.7
Accounts receivable	15.7
Inventories	21.7
Prepaid and other current assets	1.9
Property, plant and equipment	86.3
Operating lease assets, net	1.8
Goodwill	295.1
Other assets	1.3
Total fair value of assets acquired	715.8
Accounts payable	13.6
Accrued expenses	2.3
Long-term debt	113.1
Operating lease liabilities	1.7
Deferred income taxes	45.7
Total fair value of liabilities assumed	176.4
Cash and restricted cash acquired	(1.5)
Payments for acquired businesses, net of cash acquired	537.9
Inventory step up							$ 8.4
Amortization expense		4.8	$ 3.7	14.3	$ 9.5
2020 amortization expense		19.1		19.1
2021 amortization expense		19.1		19.1
2022 amortization expense		19		19
2023 amortization expense		18.9		18.9
2024 amortization expense		$ 18.9		$ 18.9
Cash and cash equivalents	0.7
Restricted cash	$ 0.8
Customer relationships | Caprolactone
Business Acquisition [Line Items]
Weighted Average Amortization Period	17 years
Intangible assets	$ 159
Developed technology | Caprolactone
Business Acquisition [Line Items]
Weighted Average Amortization Period	12 years
Intangible assets	$ 64.8
Brands | Caprolactone
Business Acquisition [Line Items]
Weighted Average Amortization Period	17 years
Intangible assets	$ 67
Non-compete | Caprolactone
Business Acquisition [Line Items]
Weighted Average Amortization Period	3 years
Intangible assets	$ 0.5

Acquisitions (Business Acquisit

Acquisitions (Business Acquisition, Pro Forma Information) (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)$ / shares
Business Combinations [Abstract]
Net sales	$ 1,007.2
Income (loss) before income taxes	$ 205.7
Diluted earnings (loss) per share attributable to Ingevity stockholders (usd per share) | $ / shares	$ 3.92

Acquisitions (Acquisition and o

Acquisitions (Acquisition and other related costs) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition [Line Items]
Acquisition-related costs	$ 0	$ 1.3	$ 1.7	$ 24.9
Acquisition and other-related costs	0	1.3	1.7	33.3
Performance Chemicals
Business Acquisition [Line Items]
Legal and professional service fees	0	1.3	1.7	12.2
Loss on hedging purchase price	0	0	0	12.7
Acquisition-related costs	0	1.3	1.7	24.9
Inventory fair value step-up amortization	0	0	0	8.4
Acquisition and other-related costs	$ 0	$ 1.3	$ 1.7	$ 33.3

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue by Product Line (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 331.7	$ 359.9	$ 890.5	$ 989.5
Performance Materials segment
Disaggregation of Revenue [Line Items]
Net sales	143.8	130.2	349.3	362.4
Performance Materials segment | Automotive Technologies product line
Disaggregation of Revenue [Line Items]
Net sales	136.9	120.5	324.5	334.1
Performance Materials segment | Process Purification product line
Disaggregation of Revenue [Line Items]
Net sales	6.9	9.7	24.8	28.3
Performance Chemicals segment
Disaggregation of Revenue [Line Items]
Net sales	187.9	229.7	541.2	627.1
Performance Chemicals segment | Oilfield Technologies product line
Disaggregation of Revenue [Line Items]
Net sales	14	27.6	58.4	86.5
Performance Chemicals segment | Pavement Technologies product line
Disaggregation of Revenue [Line Items]
Net sales	72.5	69.8	157.1	152.9
Performance Chemicals segment | Industrial Specialties product line
Disaggregation of Revenue [Line Items]
Net sales	76.1	99.9	232.5	296.8
Performance Chemicals segment | Engineered Polymers product line
Disaggregation of Revenue [Line Items]
Net sales	$ 25.3	$ 32.4	$ 93.2	$ 90.9

Revenues - Disaggregation of _2

Revenues - Disaggregation of Revenue by Geography (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 331.7	$ 359.9	$ 890.5	$ 989.5
North America
Disaggregation of Revenue [Line Items]
Net sales	191.9	224.9	510.3	623.8
Asia Pacific
Disaggregation of Revenue [Line Items]
Net sales	89.9	76.8	240.4	193.7
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Net sales	45.5	51.6	126	155.4
South America
Disaggregation of Revenue [Line Items]
Net sales	$ 4.4	$ 6.6	$ 13.8	$ 16.6

Revenues - Contract assets (Det

Revenues - Contract assets (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Contract with customer, liability	$ 0	$ 0
Change in Contract with Customer, Asset [Roll Forward]
Beginning balance	6,200,000	5,100,000
Contract asset additions	13,500,000	11,800,000
Reclassification to accounts receivable, billed to customers	(12,900,000)	(10,000,000)
Ending balance	$ 6,800,000	$ 6,900,000

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	May 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Level 1 to level 2 transfers	$ 0	$ 0		$ 0
Equity securities without readily determinable fair value	0	0		1,500,000
Impairment losses	0	1,500,000
Finance lease obligations	80,000,000	80,000,000
Debt securities, held-to-maturity, restricted	73,000,000	73,000,000
Held-to-maturity, allowance for credit loss	1,100,000	1,100,000
Restricted cash	1,900,000	1,900,000
Restricted investments, at fair value	79,900,000	79,900,000
Long-term debt, gross	1,305,100,000	1,305,100,000		$ 1,257,800,000
Contingent consideration liability			$ 7,000,000
Variable Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, gross	901,800,000	901,800,000
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, gross	300,000,000	300,000,000
Debt instrument, fair value	304,100,000	304,100,000
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finance lease obligations	103,300,000	103,300,000
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finance lease obligations	$ 128,400,000	$ 128,400,000

Fair Value Measurements - Measu

Fair Value Measurements - Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Liabilities:
Life insurance owned by company	$ 9	$ 8.4
Fair Value, Measurements, Recurring
Assets:
Equity securities	0.1	0.4
Deferred compensation plan investments	2.3	1.4
Total assets	2.4	1.8
Liabilities:
Deferred compensation arrangement	10.4	10
Separation-related reimbursement awards		0.1
Contingent consideration	1.1
Total liabilities	11.5	10.1
Fair Value, Measurements, Recurring | Level 1
Assets:
Equity securities	0.1	0.4
Deferred compensation plan investments	2.3	1.4
Total assets	2.4	1.8
Liabilities:
Deferred compensation arrangement	10.4	10
Separation-related reimbursement awards		0.1
Contingent consideration	0
Total liabilities	10.4	10.1
Fair Value, Measurements, Recurring | Level 2
Assets:
Equity securities	0	0
Deferred compensation plan investments	0	0
Total assets	0	0
Liabilities:
Deferred compensation arrangement	0	0
Separation-related reimbursement awards		0
Contingent consideration	0
Total liabilities	0	0
Fair Value, Measurements, Recurring | Level 3
Assets:
Equity securities	0	0
Deferred compensation plan investments	0	0
Total assets	0	0
Liabilities:
Deferred compensation arrangement	0	0
Separation-related reimbursement awards		0
Contingent consideration	1.1
Total liabilities	$ 1.1	$ 0

Fair Value Measurements - Nonre

Fair Value Measurements - Nonrecurring Fair-Value Measurements (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Gains (Losses) (Period Ended September 30, 2020)	$ (1.7)
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of operating lease assets, net	0
Total assets	0
Level 1 | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of operating lease assets, net	0
Total assets	0
Level 2 | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of operating lease assets, net	0
Total assets	0
Level 3 | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of operating lease assets, net	0
Total assets	$ 0

Fair Value Measurements - Credi

Fair Value Measurements - Credit Ratings (Details) $ in Millions	Sep. 30, 2020USD ($)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities, held-to-maturity	$ 72.2
Standard & Poor's, AA+ Rating
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities, held-to-maturity	13.5
Standard & Poor's, AA Rating
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities, held-to-maturity	10.7
Standard & Poor's, A Rating
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities, held-to-maturity	24.2
Standard & Poor's, A- Rating
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities, held-to-maturity	13.4
Standard & Poor's, BBB+ Rating
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities, held-to-maturity	$ 10.4

Fair Value Measurements - Level

Fair Value Measurements - Level 3 (Details) - Liability $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 0
Newly issued	1.1
Change in revaluation of contingent consideration included in earnings	0
Exercises/settlements	0
Ending balance (1)	$ 1.1

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory, Net
Raw materials	$ 46.5	$ 42.6
Production materials, stores and supplies	24.5	22.3
Finished and in-process goods	146.5	158
Subtotal	217.5	222.9
Less: adjustment of inventories to LIFO basis	(13.5)	(10.4)
Inventories, net	$ 204	$ 212.5

Property, Plant and Equipment_3

Property, Plant and Equipment, net (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment
Total cost	$ 1,271.9	$ 1,219.3
Less: accumulated depreciation	(586.6)	(554.6)
Property, plant and equipment, net	685.3	664.7
Machinery and equipment
Property, Plant and Equipment
Total cost	1,008.8	964.3
Buildings and leasehold improvements
Property, Plant and Equipment
Total cost	159.8	116.9
Land and land improvements
Property, Plant and Equipment
Total cost	19.5	19
Construction in progress
Property, Plant and Equipment
Total cost	$ 83.8	$ 119.1

Goodwill and other intangible_3

Goodwill and other intangible assets, net - Carrying Amount (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Goodwill
Goodwill, beginning balance	$ 436.4
Foreign currency translation	(8.6)
Goodwill, ending balance	427.8
Performance Chemicals
Goodwill
Goodwill, beginning balance	432.1
Foreign currency translation	(8.6)
Goodwill, ending balance	423.5
Performance Materials
Goodwill
Goodwill, beginning balance	4.3
Foreign currency translation	0
Goodwill, ending balance	$ 4.3

Goodwill and other intangible_4

Goodwill and other intangible assets, net - Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross	$ 460.6	$ 466.1
Accumulated amortization	94.1	69.9
Net	366.5	396.2
Customer contracts and relationships
Finite-Lived Intangible Assets [Line Items]
Gross	310.2	314.5
Accumulated amortization	67.3	51.6
Net	242.9	262.9
Brands
Finite-Lived Intangible Assets [Line Items]
Gross	78.5	80.3
Accumulated amortization	14.4	11.1
Net	64.1	69.2
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross	69.2	68.6
Accumulated amortization	10.2	5.7
Net	59	62.9
Other
Finite-Lived Intangible Assets [Line Items]
Gross	2.7	2.7
Accumulated amortization	2.2	1.5
Net	$ 0.5	$ 1.2

Goodwill and other intangible_5

Goodwill and other intangible assets, net - Amortization (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	$ 8.2	$ 7.3	$ 24.4	$ 20.2
Cost of sales
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	0	0.2	0.1	0.5
Selling, general and administrative expenses
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	$ 8.2	$ 7.1	$ 24.3	$ 19.7

Goodwill and other intangible_6

Goodwill and other intangible assets, net - Maturity (Details) $ in Millions	Sep. 30, 2020USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity
2020 amortization expense	$ 32.5
2021 amortization expense	31.6
2022 amortization expense	31.4
2023 amortization expense	31.3
2024 amortization expense	$ 31

Goodwill and Other Intangible_7

Goodwill and Other Intangible Assets, net - Intangible Assets by Segments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Other intangibles, net	$ 366.5	$ 396.2
Performance Chemicals
Finite-Lived Intangible Assets [Line Items]
Other intangibles, net	364.3	396.2
Performance Materials
Finite-Lived Intangible Assets [Line Items]
Other intangibles, net	$ 2.2	$ 0

Financial Instruments and Ris_3

Financial Instruments and Risk Management (Narrative) (Details) mmbtus in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)mmbtus	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)mmbtus	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)mmbtus
Derivative [Line Items]
Foreign currency cash flow hedges losses expected to be recognized in the next 12 months	$ 100,000		$ 100,000
Level 1 to level 2 transfers	0		0		$ 0
Currency Swap
Derivative [Line Items]
Derivative, notional amount		$ 166,200,000		$ 166,200,000
Derivative, fair value, net	(400,000)		(400,000)		3,000,000
Interest and dividend	200,000	$ 900,000	1,500,000	$ 1,500,000
Currency Swap | US Dollar Denominated
Derivative [Line Items]
Derivative, fixed interest rate		3.79%		3.79%
Currency Swap | Eurodollar
Derivative [Line Items]
Derivative, fixed interest rate		1.35%		1.35%
Currency exchange contracts
Derivative [Line Items]
Derivative, notional amount	4,000,000		4,000,000
Derivative asset	(100,000)		(100,000)		0
Commodity hedging
Derivative [Line Items]
Derivative, fair value, net	$ 300,000		$ 300,000		$ (500,000)
Commodity hedging | Swap
Derivative [Line Items]
Derivative, nonmonetary notional amount | mmbtus	1.2		1.2
Commodity hedging | Zero Cost Collar
Derivative [Line Items]
Derivative, nonmonetary notional amount | mmbtus					1.1
Interest rate swap contracts
Derivative [Line Items]
Derivative, notional amount	$ 166,200,000		$ 166,200,000
Derivative, fair value, net	$ (9,600,000)		$ (9,600,000)		$ (3,900,000)

Derivatives and Hedging - Effec

Derivatives and Hedging - Effect of Cash Flow and Net Investment Hedge Accounting on AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net sales	$ 331.7	$ 359.9	$ 890.5	$ 989.5
Cost of sales	192.1	220.4	552.4	618.5
Interest expense, net	(8.9)	(12.1)	(29.8)	(36.3)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest expense, net	(8.1)	6.9	(3.5)	6.6
Total	0.9	(1.1)	(5.9)	(5.7)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest expense, net	0.2	0.9	1.5	1.5
Total	(0.5)	0	(0.9)	0.6
Currency Swap | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net sales	(0.3)	0	(0.1)	0
Interest expense, net	(8.1)	6.9	(3.5)	6.6
Currency Swap | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net sales	(0.2)	0	0	0
Interest expense, net	0.2	0.9	1.5	1.5
Commodity hedging | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of sales	0.4	(0.2)	(0.1)	(0.7)
Commodity hedging | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of sales	(0.3)	0	(0.9)	0.6
Interest rate swap contracts | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest expense, net	0.8	(0.9)	(5.7)	(5)
Interest rate swap contracts | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest expense, net	$ 0	$ 0	$ 0	$ 0

Derivatives and Hedging (Fair V

Derivatives and Hedging (Fair Value of Hedging Contracts) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 1.3	$ 3
Total liabilities	11.1	4.4
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Total liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1.3	3
Total liabilities	11.1	4.4
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Total liabilities	0	0
Currency exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0.1
Currency exchange contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0
Currency exchange contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0.1
Currency exchange contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0
Natural gas contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0.3
Total liabilities		0.5
Natural gas contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0
Total liabilities		0
Natural gas contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0.3
Total liabilities		0.5
Natural gas contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0
Total liabilities		0
Net Investing Hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1	3
Total liabilities	1.4
Net Investing Hedge | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Total liabilities	0
Net Investing Hedge | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1	3
Total liabilities	1.4
Net Investing Hedge | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Total liabilities	0
Interest rate swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	9.6	3.9
Interest rate swap contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0	0
Interest rate swap contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	9.6	3.9
Interest rate swap contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	$ 0	$ 0

Debt including Finance Lease _3

Debt including Finance Lease Obligations - Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Line of Credit Facility
Long-term debt, gross	$ 1,305.1	$ 1,257.8
Less: debt issuance costs	5.7	6.9
Total debt, including finance lease obligations, net of debt issuance costs	1,299.4	1,250.9
Less: debt maturing within one year	22.4	22.5
Long-term debt including finance lease obligations	1,277	1,228.4
Present value of lease liabilities	80
Wickliffe, Kentucky Manufacturing Facility
Line of Credit Facility
Present value of lease liabilities	80
Corporate Headquarters
Line of Credit Facility
Present value of lease liabilities	$ 23.3
Revolving Credit Facility
Line of Credit Facility
Interest rate	1.65%
Long-term debt, gross	$ 170	131.3
Letters of credit outstanding	2.4
Available under the facility	$ 577.6
Term Loans
Line of Credit Facility
Interest rate	1.44%
Long-term debt, gross	$ 726.6	740.6
Senior Notes
Line of Credit Facility
Interest rate	4.50%
Long-term debt, gross	$ 300	300
Capital lease obligations
Line of Credit Facility
Interest rate	7.16%
Long-term debt, gross	$ 103.3	80
Other
Line of Credit Facility
Interest rate	4.77%
Long-term debt, gross	$ 5.2	$ 5.9

Debt including Finance Lease _4

Debt including Finance Lease Obligations - Narrative (Details) - USD ($)	Oct. 28, 2020	Sep. 30, 2020
Line of Credit Facility
Leverage ratio		3.3
Leverage ratio, interest		8.3
Subsequent Event
Line of Credit Facility
Face amount	$ 550,000,000
Stated rate	3.875%
Revolving Credit Facility
Line of Credit Facility
Leverage ratio		4
Leverage ratio potential increase		4.5
Leverage ratio, interest		3
Senior Notes
Line of Credit Facility
Effective rate		4.50%

Equity - Rollforward (Details)

Equity - Rollforward (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Increase (Decrease) in Stockholders' Equity
Beginning balance (shares)			41,826,136				41,826,136
Beginning balance	$ 522.9	$ 502.1	$ 530.8	$ 400.7	$ 358.7	$ 338.7	$ 530.8	$ 338.7
Net income (loss)	69.9	20.2	45.3	59.9	56.8	22.7	$ 135.4	139.4
Other comprehensive income (loss)	22.6	(4.1)	(39.1)	(18.5)	(19.4)	9.1
Exercise of stock options, net		1.4		0.1	0.2	1.4
Tax payments related to vested restricted stock units	(0.1)	0.1	(3.1)			(14.3)
Share repurchase program			(32.4)	(3.1)		(3.3)
Share-based compensation plans	$ 1.7	3.2	1.2	4.2	4.4	4.4
Ending balance (shares)	41,277,888						41,277,888
Ending balance	$ 617	$ 522.9	502.1	$ 443.3	$ 400.7	$ 358.7	$ 617	$ 443.3
Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Stockholders' Equity
Beginning balance			$ (0.6)				$ (0.6)
Common Stock
Increase (Decrease) in Stockholders' Equity
Beginning balance (shares)	42,891,000	42,836,000	42,675,000	42,670,000	42,659,000	42,332,000	42,675,000	42,332,000
Beginning balance	$ 0.4	$ 0.4	$ 0.4	$ 0.4	$ 0.4	$ 0.4	$ 0.4	$ 0.4
Common stock issued (shares)	3,000	5,000	161,000		5,000	276,000
Exercise of stock options, net (shares)	1,000	50,000		2,000	6,000	51,000
Ending balance (shares)	42,895,000	42,891,000	42,836,000	42,672,000	42,670,000	42,659,000	42,895,000	42,672,000
Ending balance	$ 0.4	$ 0.4	$ 0.4	$ 0.4	$ 0.4	$ 0.4	$ 0.4	$ 0.4
Additional paid in capital
Increase (Decrease) in Stockholders' Equity
Beginning balance	116.3	113.6	112.8	107.5	103.8	98.3	112.8	98.3
Exercise of stock options, net		1.4		0.1	0.2	1.4
Share-based compensation plans	0.5	1.3	0.8	3.8	3.5	4.1
Ending balance	116.8	116.3	113.6	111.4	107.5	103.8	116.8	111.4
Retained earnings
Increase (Decrease) in Stockholders' Equity
Beginning balance	562.1	541.9	497.2	393	336.2	313.5	497.2	313.5
Net income (loss)	69.9	20.2	45.3	59.9	56.8	22.7
Ending balance	632	562.1	541.9	452.9	393	336.2	632	452.9
Retained earnings | Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Stockholders' Equity
Beginning balance			(0.6)				(0.6)
Accumulated other comprehensive income (loss)
Increase (Decrease) in Stockholders' Equity
Beginning balance	(48.2)	(44.1)	(5)	(28)	(8.6)	(17.7)	(5)	(17.7)
Other comprehensive income (loss)	22.6	(4.1)	(39.1)	(18.5)	(19.4)	9.1
Ending balance	(25.6)	(48.2)	(44.1)	(46.5)	(28)	(8.6)	(25.6)	(46.5)
Treasury stock
Increase (Decrease) in Stockholders' Equity
Beginning balance	(107.7)	(109.7)	(74.6)	(72.2)	(73.1)	(55.8)	(74.6)	(55.8)
Tax payments related to vested restricted stock units	(0.1)	0.1	(3.1)			(14.3)
Share repurchase program			(32.4)	(3.1)	0.9	(3.3)
Share-based compensation plans	1.2	1.9	0.4	0.4		0.3
Ending balance	$ (106.6)	$ (107.7)	$ (109.7)	$ (74.9)	$ (72.2)	$ (73.1)	$ (106.6)	$ (74.9)

Equity - Rollforward of Accumul

Equity - Rollforward of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Less: tax provision (benefit)	$ (1,900,000)	$ 1,600,000	$ (800,000)	$ 1,500,000
Less: tax provision (benefit)	0	0	0	0
Net gains (losses) on net investment hedges	27,600,000	(22,900,000)	(14,200,000)	(29,000,000)
Other comprehensive income (loss), net of tax provision (benefit) of $(1.6), $1.4, $(2.0), and $0.1	22,600,000	(18,500,000)	(20,600,000)	(28,800,000)
Ending balance	(25,600,000)	(46,500,000)	(25,600,000)	(46,500,000)
Foreign currency adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(36,800,000)	(22,700,000)	1,500,000	(16,400,000)
Net gains (losses) on foreign currency translation	27,600,000	(22,900,000)	(14,200,000)	(29,000,000)
Less: tax provision (benefit)	0	0	0	0
Less: tax provision (benefit)	(1,900,000)	1,600,000	(800,000)	1,500,000
Net gains (losses)	27,600,000	(22,900,000)	(14,200,000)	(29,000,000)
Gains (losses) before reclassification, before tax	(8,100,000)	6,900,000	(3,500,000)	6,600,000
Net gains (losses) on net investment hedges	(6,200,000)	5,300,000	(2,700,000)	5,100,000
Other comprehensive income (loss), net of tax provision (benefit) of $(1.6), $1.4, $(2.0), and $0.1	21,400,000	(17,600,000)	(16,900,000)	(23,900,000)
Ending balance	(15,400,000)	(40,300,000)	(15,400,000)	(40,300,000)
Derivative Instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(8,400,000)	(3,600,000)	(3,500,000)	400,000
Less: tax provision (benefit)	200,000	(200,000)	(1,400,000)	(1,300,000)
Net gains (losses)	700,000	(900,000)	(4,500,000)	(4,400,000)
Gains (losses) before reclassification, before tax	900,000	(1,100,000)	(5,900,000)	(5,700,000)
(Gains) losses reclassified to net income	500,000	0	900,000	(600,000)
Less: tax (provision) benefit	100,000	0	200,000	(100,000)
Net (gains) losses reclassified to net income	400,000	0	700,000	(500,000)
Other comprehensive income (loss), net of tax provision (benefit) of $(1.6), $1.4, $(2.0), and $0.1	1,100,000	(900,000)	(3,800,000)	(4,900,000)
Ending balance	(7,300,000)	(4,500,000)	(7,300,000)	(4,500,000)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(3,000,000)	(1,700,000)	(3,000,000)	(1,700,000)
Unrealized actuarial gains (losses) and prior service (costs) credits	0	0	0	0
Less: tax provision (benefit)	0	0	0	0
Net actuarial gains (losses) and prior service (costs) credits	0	0	0	0
Less: tax provision (benefit)	0	0	0	0
Gains (losses) before reclassification, before tax	100,000	0	100,000	0
Net (gains) losses reclassified to net income	100,000	0	100,000	0
Other comprehensive income (loss), net of tax provision (benefit) of $(1.6), $1.4, $(2.0), and $0.1	100,000	0	100,000	0
Ending balance	$ (2,900,000)	$ (1,700,000)	$ (2,900,000)	$ (1,700,000)

Equity - Reclassification of AO

Equity - Reclassification of AOCI (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net sales	$ 331.7			$ 359.9			$ 890.5	$ 989.5
Cost of sales	(192.1)			(220.4)			(552.4)	(618.5)
Amortization of unrecognized net actuarial and other gains (losses)	3			(1.4)			0.1	2.3
Income (loss) before income taxes	88.1			77.4			168.7	172.8
(Provision) benefit for income taxes	(18.2)			(17.5)			(33.3)	(33.4)
Net income (loss)	69.9	$ 20.2	$ 45.3	59.9	$ 56.8	$ 22.7	135.4	139.4
Derivative Instruments | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) before income taxes	(0.5)			0			(0.9)	0.6
(Provision) benefit for income taxes	0.1			0			0.2	(0.1)
Net income (loss)	(0.4)			0			(0.7)	0.5
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Including Portion Attributable to Noncontrolling Interest | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	(0.1)			0			(0.1)	0
Amortization of unrecognized net actuarial and other gains (losses)	0			0			0	0
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) before income taxes	(0.1)			0			(0.1)	0
(Provision) benefit for income taxes	0			0			0	0
Net income (loss)	(0.1)			0			(0.1)	0
Currency exchange contracts | Derivative Instruments | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net sales	(0.2)			0			0	0
Natural gas contracts | Derivative Instruments | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ (0.3)			$ 0			$ (0.9)	$ 0.6

Equity - Share Repurchases (Det

Equity - Share Repurchases (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Feb. 28, 2020	Dec. 31, 2018	Dec. 31, 2017
Equity, Class of Treasury Stock [Line Items]
Common stock amount authorized to be repurchased		$ 500,000,000
Shares repurchased (in shares)	0
Amount remained unused under repurchase program	$ 467,600,000
Common Stock
Equity, Class of Treasury Stock [Line Items]
Common stock amount authorized to be repurchased			$ 350,000,000	$ 100,000,000

Retirement Plans - Summary of C

Retirement Plans - Summary of Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Pensions
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0.4	$ 0.2	$ 1.2	$ 0.9
Interest cost	0.3	0.3	0.9	0.8
Expected return on plan assets	(0.3)	(0.2)	(0.9)	(0.7)
Amortization of prior service cost (credit)	0.1	0	0.1	0
Amortization of net actuarial and other (gain) loss	0	0	0	0
Net periodic benefit cost (income)	0.5	0.3	1.3	1
Other Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0	0	0	0
Interest cost	0	0	0	0
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	0	0	0	0
Amortization of net actuarial and other (gain) loss	0	0	0	0
Net periodic benefit cost (income)	$ 0	$ 0	$ 0	$ 0

Retirement Plans - Narrative (D

Retirement Plans - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Postemployment Benefits [Abstract]
Discretionary contribution amount	$ 0	$ 0

Restructuring and Other (Inco_3

Restructuring and Other (Income) Charges, net - Restructuring (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Gain on sale of assets and businesses	$ 0	$ 0	$ 0	$ (0.4)
Severance and other employee-related costs	0.3	1.7	6.3	1.7
Other	1.7	0	1.7	0.7
Restructuring charges	2	1.7	8	2
Business transformation costs	3.5	0	5.3	0
Other	0	0	0	0
Other (income) charges, net	3.5	0	5.3	0
Total restructuring and other (income) charges, net	$ 5.5	$ 1.7	$ 13.3	$ 2

Restructuring and Other (Inco_4

Restructuring and Other (Income) Charges, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Gain on sale of assets and businesses	$ 0	$ 0	$ 0	$ 0.4
Other	1.7	0	1.7	0.7
Business transformation costs	3.5	$ 0	5.3	$ 0
Other Restructuring | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	60		60
Other Restructuring | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	70		70
Non-Capitalizable | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	13		13
Restructuring costs expected in current fiscal year	7		7
Non-Capitalizable | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	16		16
Restructuring costs expected in current fiscal year	$ 8		$ 8

Restructuring and other (inco_5

Restructuring and other (income) charges, net - Roll forward of Restructuring Reserve (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Restructuring Reserve
Restructuring reserve, beginning balance	$ 0.4
Change in reserve	6.3
Cash payments	(6)
Other	0
Restructuring reserve, ending balance	$ 0.7

Income Taxes - Effective tax ra

Income Taxes - Effective tax rate (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Effective Income Tax Rate Reconciliation, Percent
Effective tax rate	20.70%	22.60%	19.70%	19.30%

Income Taxes - Tax Reconciliati

Income Taxes - Tax Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	20.70%	22.60%	19.70%	19.30%
Before tax
Income (loss) before income taxes	$ 88.1	$ 77.4	$ 168.7	$ 172.8
Restructuring and other (income) charges, net(1)	2	1.7	8	2
Acquisition and other-related costs	0	1.3	1.7	33.3
Total discrete items	2	3	9.7	35.3
Consolidated and combined operations, before discrete items	90.1	80.4	178.4	208.1
Tax
Provision (benefit) for income taxes	18.2	17.5	33.3	33.4
Restructuring and other (income) charges, net(1)	0.3	0.4	1.7	0.4
Acquisition and other-related costs	0	0.4	0.4	6
Other tax only discrete items	(0.2)	(0.1)	1	6.7
Total discrete items, tax	0.1	0.7	3.1	13.1
Combined operations, before discrete items, tax	$ 18.3	$ 18.2	$ 36.4	$ 46.5
EAETR	20.30%	22.60%	20.40%	22.30%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Deferred tax asset	$ 9.8	$ 13

Segment information (Net Sales

Segment information (Net Sales and Segment Operating Profit) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Net sales	$ 331.7	$ 359.9	$ 890.5	$ 989.5
Segment Reporting Information, Profit (Loss)
Segment operating profits	127.6	114	287	305.8
Interest expense, net	(8.9)	(12.1)	(29.8)	(36.3)
(Provision) benefit for income taxes	(18.2)	(17.5)	(33.3)	(33.4)
Depreciation and amortization - Performance Chemicals			(73.5)	(61.4)
Restructuring and other income (charges), net	(5.5)	(1.7)	(13.3)	(2)
Acquisition and other related costs	0	(1.3)	(1.7)	(33.3)
Net income (loss) attributable to Ingevity stockholders	69.9	59.9	135.4	139.4
Performance Materials
Segment Reporting Information [Line Items]
Net sales	143.8	130.2	349.3	362.4
Segment Reporting Information, Profit (Loss)
Segment operating profits	80.4	54.2	164.9	154.7
Depreciation and amortization - Performance Chemicals	(8)	(6)	(22.5)	(17.6)
Restructuring and other income (charges), net	(2.6)		(5.4)
Performance Chemicals
Segment Reporting Information [Line Items]
Net sales	187.9	229.7	541.2	627.1
Segment Reporting Information, Profit (Loss)
Segment operating profits	47.2	59.8	122.1	151.1
Depreciation and amortization - Performance Chemicals	(17.1)	$ (15.5)	(51)	$ (43.8)
Restructuring and other income (charges), net	$ (2.9)		$ (7.9)

Earnings (Loss) per Share - Ear

Earnings (Loss) per Share - Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share Reconciliation
Net income (loss)	$ 69.9	$ 59.9	$ 135.4	$ 139.4
Basic and Diluted earnings (loss) per share
Basic earnings (loss) per share (usd per share)	$ 1.69	$ 1.42	$ 3.27	$ 3.33
Diluted earnings (loss) per share (usd per share)	$ 1.69	$ 1.41	$ 3.26	$ 3.30
Shares
Weighted average number of common shares outstanding - Basic (in shares)	41,276	42,299	41,400	41,793
Weighted average additional shares assuming conversion of potential common shares (in shares)	175	344	179	408
Shares - diluted basis (in shares)	41,451	42,643	41,579	42,201

Earnings (Loss) per Share - Ant

Earnings (Loss) per Share - Antidilutive (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Potentially anti-dilutive shares (in shares)	173	118	205	103

Subsequent Event (Details)

Subsequent Event (Details) - USD ($)	Oct. 28, 2020	Sep. 30, 2020
Term Loans
Subsequent Event [Line Items]
Face amount		$ 375,000,000
Line of Credit [Member]
Subsequent Event [Line Items]
Face amount		$ 750,000,000
Subsequent Event
Subsequent Event [Line Items]
Face amount	$ 550,000,000
Stated rate	3.875%
Payments of financing costs	$ 8,000,000
Proceeds from sale of notes receivable	542,000,000
Subsequent Event | Line of Credit [Member]
Subsequent Event [Line Items]
Face amount	$ 500,000,000