← UL Solutions Inc.

	FY 2019	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Cash and cash equivalents	—	—	—	—	$315.0m	$298.0m	$295.0m
Accounts receivable, net of allowance of $12 and $9	—	—	—	—	$362.0m	$380.0m	$422.0m
Other current assets	—	—	—	—	$97.0m	$61.0m	$79.0m
Trade and other receivables, net of allowance for doubtful accounts (notes 5, 6)	$3.2m	$4.5m	$5.6m	$5.3m	—	—	—
Inventories	—	$49k	$50k	$38k	—	—	—
Prepaid expenses and deposits	—	$254k	$2.1m	$2.1m	—	—	—
Total current assets	—	$21.6m	$18.3m	$9.2m	$953.0m	$921.0m	$1.0b
Property, plant and equipment, net of accumulated depreciation of $879 and $772	—	—	—	—	$555.0m	$631.0m	$699.0m
Capitalized software, net of accumulated amortization of $475 and $427	—	—	—	—	$139.0m	$127.0m	$105.0m
Property and equipment (note 7)	$112k	$216k	$461k	$1.4m	—	—	—
Goodwill	$4.3m	$7.0m	$12.4m	$12.0m	$623.0m	$633.0m	$656.0m
Intangible assets, net of accumulated amortization of $256 and $239	—	—	—	—	$72.0m	$58.0m	$48.0m
Intangible assets, net (notes 4, 8)	$10.2m	$12.1m	$14.9m	$10.7m	—	—	—
Operating lease right-of-use assets	—	—	—	—	$151.0m	$186.0m	$179.0m
Other assets	—	—	—	—	$133.0m	$136.0m	$140.0m
Right-of-use assets, net (note 19)	$647k	$310k	$1.1m	$1.1m	—	—	—
Contract assets, net of allowance of $2 and $1	—	—	—	—	$179.0m	$182.0m	$204.0m
Deferred income taxes	—	—	—	—	$110.0m	$108.0m	$94.0m
Operating lease liabilities - current	—	—	—	—	$39.0m	$38.0m	$43.0m
Contract liabilities	—	—	$1.0m	$1.7m	$162.0m	$162.0m	$173.0m
Other current liabilities	—	—	—	—	$58.0m	$54.0m	$79.0m
Operating lease liabilities	—	—	—	—	$120.0m	$155.0m	$149.0m
Other liabilities	—	—	—	—	$93.0m	$86.0m	$93.0m
Non-controlling interests	—	—	—	—	$24.0m	$27.0m	$32.0m
Cash	$1.7m	$16.8m	$10.6m	$1.7m	—	—	—
Income tax recoverable (note 21)	—	—	—	$105k	—	—	—
Restricted cash	—	$43k	$304k	$464k	—	—	—
Deferred tax assets (note 21)	—	$1.4m	$465k	$655k	—	—	—
Income tax payable (note 21)	—	$202k	$98k	$45k	—	—	—
Share appreciation rights plan obligations (note 11)	—	$127k	—	—	—	—	—
Share based payment liability (note 11)	—	—	$551k	$31k	—	—	—
Derivative warrant liability (note 10)	—	—	$1.9m	$291k	—	—	—
Current portion of lease obligations (note 20)	—	$113k	$288k	$488k	—	—	—
Long-term contingent consideration (note 4)	—	$1.6m	$167k	—	—	—	—
Long-term lease obligations (note 20)	—	$241k	$901k	$719k	—	—	—
Contributed surplus	—	$5.0m	$4.8m	$5.9m	—	—	—
Deficit	—	($35.3m)	($55.0m)	($63.7m)	—	—	—
Current portion of contract liabilities	—	$1.3m	$1.0m	—	—	—	—
Long-term contract liabilities	—	$71k	—	—	—	—	—
Total stockholders’ equity before non-controlling interests	—	—	—	—	$654.0m	$904.0m	$1.3b
Total Stockholders’ Equity	—	—	—	—	$678.0m	$931.0m	$1.3b
Total shareholders' equity	$2.2m	$19.8m	$22.1m	$15.6m	—	—	—
Total Assets	$20.8m	$42.7m	$48.0m	$35.5m	$2.7b	$2.8b	$2.9b
Total Liabilities and Stockholders’ Equity	—	—	—	—	$2.7b	$2.8b	$2.9b
Current portion of long-term debt	$1.1m	$1.5m	$1.1m	$8.6m	$0	$50.0m	$0
Accounts payable	—	—	—	—	$169.0m	$182.0m	$183.0m
Accrued compensation and benefits	—	—	—	—	$281.0m	$254.0m	$282.0m
Trade and other payables and accrued liabilities	—	$5.3m	$5.7m	$5.9m	—	—	—
Total current liabilities	$8.0m	$8.5m	$10.6m	$17.2m	$709.0m	$740.0m	$760.0m
Long-term debt	$7.6m	$12.1m	$12.0m	$20k	$904.0m	$692.0m	$491.0m
Pension and postretirement benefit plans	—	—	—	—	$232.0m	$196.0m	$134.0m
Deferred tax liability (note 21)	—	($61k)	$1.2m	$869k	—	—	—
Other long-term liabilities	—	$361k	$1.0m	$1.1m	—	—	—
Total Liabilities	—	$22.9m	$25.9m	$19.9m	$2.1b	$1.9b	$1.6b
Common stock	—	—	—	—	$0	$0	$0
Additional paid-in capital	—	—	—	—	$776.0m	$821.0m	$887.0m
Retained earnings	—	—	—	—	$24.0m	$250.0m	$470.0m
Accumulated other comprehensive loss	—	—	—	—	($146.0m)	($167.0m)	($95.0m)
Capital stock (note 11)	—	$50.2m	$72.2m	$74.7m	—	—	—
Accumulated other comprehensive income (loss)	—	($79k)	$75k	($1.2m)	—	—	—
Total liabilities and shareholders' equity	—	$42.7m	$48.0m	$35.5m	—	—	—

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.