Annual report [Section 13 and 15(d), not S-K Item 405]

Schedule I - Condensed Financial Information of Parent

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Schedule I - Condensed Financial Information of Parent
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information
SCHEDULE I
ECOVYST INC. AND SUBSIDIARIES (PARENT)
CONDENSED FINANCIAL INFORMATION
CONDENSED STATEMENTS OF (LOSS) INCOME
(in thousands)


Years ended December 31,
2024 2023 2022
Stock compensation expense $ 14,043  $ 16,031  $ 20,632 
Equity in net (income) from subsidiaries (7,391) (87,185) (94,329)
Net (loss) income (6,652) 71,154  73,697 
Other comprehensive income (loss), net of tax:
Pension and postretirement benefits 855  1,120  (2,676)
Net (loss) gain from hedging activities (2,644) (12,126) 24,382 
Foreign currency translation (4,660) 4,056  (9,922)
Total other comprehensive (loss) income (6,449) (6,950) 11,784 
Comprehensive (loss) income $ (13,101) $ 64,204  $ 85,481 
SCHEDULE I
ECOVYST INC. AND SUBSIDIARIES (PARENT)
CONDENSED FINANCIAL INFORMATION
CONDENSED BALANCE SHEETS
(in thousands, except share and per share amounts)


December 31,
2024 2023
ASSETS
Investment in subsidiaries $ 700,460  $ 705,464 
Total assets $ 700,460  $ 705,464 
LIABILITIES
Total liabilities $ —  $ — 
STOCKHOLDERS' EQUITY
Common stock (0.01 par); authorized shares 450,000,000; issued shares 140,872,846 and 140,744,045 on December 31, 2024 and 2023, respectively; outstanding shares 116,534,803 and 116,116,895 on December 31, 2024 and 2023, respectively
 1,409  1,407 
Preferred stock (0.01 par); authorized shares 50,000,000; no shares issued or outstanding on December 31, 2024 and 2023, respectively
 —  — 
Additional paid-in capital 1,106,792  1,102,581 
Accumulated deficit (177,508) (170,856)
Treasury stock, at cost; shares 24,338,043 and 24,627,150 on December 31, 2024 and 2023, respectively
 (222,826) (226,710)
Accumulated other comprehensive loss (7,407) (958)
Total equity 700,460  705,464 
Total liabilities and equity $ 700,460  $ 705,464 
SCHEDULE I
ECOVYST INC. AND SUBSIDIARIES (PARENT)
CONDENSED FINANCIAL INFORMATION
CONDENSED STATEMENTS OF CASH FLOWS
(in thousands)


Years ended December 31,
2024 2023 2022
Cash flows from operating activities:
Net (loss) income $ (6,652) $ 71,154  $ 73,697 
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Equity in net (income) from subsidiaries (7,391) (87,185) (94,329)
Stock compensation expense 14,043  16,031  20,632 
Net cash provided by operating activities —  —  — 
Effect of exchange rate changes on cash and cash equivalents —  —  — 
Net change in cash and cash equivalents —  —  — 
Cash and cash equivalents at beginning of period —  —  — 
Cash and cash equivalents at end of period $ —  $ —  $ — 
SCHEDULE I
ECOVYST INC. AND SUBSIDIARIES (PARENT)
CONDENSED FINANCIAL INFORMATION
NOTES TO CONDENSED SCHEDULE I

1. Description of Ecovyst Inc. and Subsidiaries
Ecovyst Inc. (“Ecovyst” or the “Parent Company”) is a holding company that conducts substantially all of its business operations through its wholly owned subsidiary, Ecovyst Catalyst Technologies LLC. As specified in certain of Ecovyst Catalyst Technologies LLC’s debt agreements, there are restrictions on the ability of Ecovyst Catalyst Technologies LLC to make payments to its stockholder, Ecovyst, on behalf of its equity interests (refer to Note 16 to the Ecovyst consolidated financial statements for further information regarding Ecovyst debt).
2. Basis of Presentation
The accompanying condensed Parent Company financial statements are required in accordance with Rule 4-08(e)(3) of Regulation S-X. These condensed financial statements have been presented on a “parent-only” basis and are not the general-purpose financial statements of Ecovyst. Under a parent-only presentation, the Parent Company’s investment in its consolidated subsidiary is recorded based upon its proportionate share of the subsidiary’s net assets, similar to presenting it under the equity method of accounting. Under the equity method, the investment in subsidiary is stated at cost plus contributions and equity in undistributed income (loss) of the subsidiary, less distributions received since the date of acquisition. These parent-only financial statements should be read in conjunction with Ecovyst’s audited consolidated financial statements and the accompanying notes thereto.
3. Stock-Based Compensation
Refer to Note 21 of the notes to the Ecovyst consolidated financial statements for a description of stock-based compensation.