← INNOVATE Corp.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | ($94.5m) | ($46.9m) | $162.0m | ($31.5m) | ($92.0m) | ($227.5m) | ($35.9m) | ($35.2m) | ($34.6m) | ($60.6m) | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($105.4m) | ($49.7m) | $155.6m | ($31.5m) | ($95.6m) | ($229.7m) | ($40.8m) | ($37.6m) | ($35.8m) | ($64.0m) | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($97.4m) | ($50.5m) | $179.9m | ($36.1m) | ($102.1m) | ($236.2m) | ($42.0m) | ($38.9m) | ($39.7m) | ($64.0m) | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | — | ($43.9m) | ($78.5m) | ($35.9m) | — | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ($97.4m) | ($50.5m) | — | — | ($38.3m) | ($86.3m) | ($42.0m) | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $0 | $0 | — | — | ($63.8m) | ($149.9m) | $0 | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | — | — | — | ($48.1m) | ($149.0m) | $0 | — | — | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | ($2.9m) | ($3.6m) | $17.9m | ($4.6m) | ($10.1m) | ($8.7m) | ($6.1m) | ($3.7m) | ($5.1m) | ($3.4m) | |
| Depreciation, Depletion and Amortization | $28.9m | $36.6m | $38.7m | $41.1m | $5.9m | $37.6m | $42.2m | $36.0m | $32.9m | $30.4m | |
| Amortization of Debt Issuance Costs and Discounts | $3.3m | $6.1m | $7.4m | $13.9m | $15.5m | $10.5m | $3.4m | $6.9m | $7.7m | $23.7m | |
| Amortization of Intangible Assets | $3.8m | $5.4m | $4.9m | $12.3m | $6.0m | $12.6m | $16.6m | $11.1m | $7.9m | $7.5m | |
| Depreciation | $28.9m | $35.8m | $46.6m | $52.3m | $21.1m | $25.0m | $25.6m | $24.9m | $25.0m | $22.9m | |
| Deferred Income Tax Expense (Benefit) | $27.1m | ($10.5m) | ($2.6m) | ($28.1m) | $8.1m | $2.0m | $1.1m | ($5.3m) | $500k | ($100k) | |
| Share-based Payment Arrangement, Noncash Expense | $8.3m | $5.2m | $9.0m | $7.8m | $2.9m | $2.4m | $2.4m | $2.2m | $3.4m | $2.7m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $1.0m | $670k | — | — | — | — | — | — | — | — | |
| Share-based Payment Arrangement, Expense | $8.3m | $5.2m | $9.0m | $7.9m | $3.0m | $2.4m | $2.4m | $2.2m | $3.4m | $2.7m | |
| Goodwill, Impairment Loss | — | $587k | — | $51.8m | — | — | — | — | — | — | |
| Impairment of Intangible Assets, Finite-lived | — | — | — | — | — | — | $1.5m | $0 | — | — | |
| Marketable Securities, Realized Gain (Loss), Excluding Other-than-temporary Impairment Loss | $2.5m | $5.1m | $28.8m | $9.0m | $63.4m | $0 | — | — | — | — | |
| Operating Lease, Impairment Loss | — | — | — | — | — | $2.1m | $500k | $600k | — | — | |
| Equity Method Investment, Realized Gain (Loss) on Disposal | — | — | — | — | $71.1m | $0 | — | — | ($300k) | $0 | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | ($2.4m) | $2.8m | $1.1m | — | — | — | — | — | — | — | |
| Gain (Loss) on Disposition of Property Plant Equipment | ($2.4m) | ($31.9m) | ($39.7m) | ($41.4m) | ($17.8m) | ($24.1m) | ($20.7m) | ($18.4m) | ($19.0m) | ($26.1m) | |
| Gain (Loss) on Extinguishment of Debt | $0 | $0 | ($5.1m) | $0 | ($9.4m) | ($12.5m) | $0 | $0 | ($300k) | ($300k) | |
| Income (Loss) from Equity Method Investments | $10.8m | $17.8m | $15.4m | $2.2m | ($3.4m) | ($2.8m) | ($1.3m) | ($9.4m) | ($2.3m) | ($5.9m) | |
| Income Tax Expense (Benefit) | $51.6m | $10.7m | $2.4m | ($20.6m) | $10.5m | $5.6m | $900k | $4.5m | $6.3m | $2.5m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $74.5m | $89.0m | |
| Other Nonoperating Income (Expense) | ($2.8m) | ($12.8m) | $78.7m | $6.0m | $68.5m | $4.3m | ($1.2m) | $16.7m | $3.4m | $4.7m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | $55.9m | $47.1m | $30.2m | ($52.4m) | ($43.0m) | $38.3m | $5.5m | $25.7m | ($91.8m) | $48.7m | |
| Increase (Decrease) in Inventories | ($2.2m) | — | — | — | — | — | $1.9m | $3.5m | ($1.9m) | ($4.8m) | |
| Increase (Decrease) in Accounts Payable | $11.9m | $54.4m | $6.6m | ($29.6m) | $1.3m | $57.9m | $21.7m | ($60.2m) | ($57.2m) | $57.1m | |
| Asset Retirement Obligation, Accretion Expense | — | — | — | — | — | — | $100k | $200k | $200k | $200k | |
| Debt and Equity Securities, Gain (Loss) | — | — | ($8.4m) | $700k | ($15.1m) | — | — | — | — | — | |
| Equity Securities, FV-NI, Unrealized Gain (Loss) | — | — | ($11.6m) | $3.4m | ($8.8m) | — | — | — | — | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | — | — | — | — | — | — | — | — | $1.3m | ($1.1m) | |
| Gain (Loss) on Investments | — | — | $34.4m | $0 | — | — | — | — | ($200k) | — | |
| Goodwill | $98.1m | $131.7m | $171.7m | $126.8m | $111.0m | $127.4m | $127.1m | $127.1m | $126.7m | $127.0m | |
| Investment Income, Interest | — | — | — | — | — | — | — | — | $2.6m | $700k | |
| Marketable Securities, Unrealized Gain (Loss) | — | — | — | — | — | — | — | — | ($200k) | $800k | |
| Operating Expenses | $1.6b | $1.6b | $2.0b | — | — | — | — | — | — | — | |
| Realized Investment Gains (Losses) | $5.0m | $5.0m | ($8.4m) | $700k | ($15.1m) | — | — | — | — | — | |
| Unrealized Gain (Loss) on Derivatives | — | — | $300k | ($1.7m) | $900k | — | — | — | — | — | |
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $0 | — | — | — | — | — | — | — | — | — | |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax | $0 | — | — | — | — | — | — | — | — | — | |
| Other Operating Income (Expense), Net | — | $704k | $100k | $5.6m | $20.0m | ($600k) | ($700k) | ($1.3m) | $9.0m | ($400k) | |
| Net Cash Provided by (Used in) Operating Activities | $79.1m | $6.1m | $341.4m | $110.5m | $41.7m | $27.0m | ($9.5m) | $26.5m | $9.1m | $146.6m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $29.0m | $31.9m | $39.7m | $41.4m | $17.8m | $24.1m | $20.7m | $18.4m | $19.0m | $26.1m | |
| Payments to Acquire Businesses, Net of Cash Acquired | $66.3m | $57.8m | — | — | — | — | — | — | — | — | |
| Payments to Acquire Investments | $239.9m | $341.9m | $1.2b | $1.1b | $997.1m | — | — | — | $2.0m | $300k | |
| Payments for (Proceeds from) Other Investing Activities | $518k | ($439k) | ($400k) | ($8.2m) | ($6.4m) | ($1.0m) | ($700k) | ($700k) | ($500k) | $0 | |
| Net Cash Provided by (Used in) Investing Activities | ($140.2m) | ($139.3m) | ($224.6m) | ($263.7m) | $162.3m | ($223.2m) | ($22.5m) | $39.1m | ($13.9m) | ($22.6m) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $56.1m | $186.9m | $850.6m | $123.9m | ($4.1m) | — | $10.7m | $4.9m | — | — | |
| Repayments of Long-term Debt | $22.3m | $51.6m | $697.0m | $44.5m | $181.8m | $458.1m | $28.3m | $37.1m | — | — | |
| Proceeds from Issuance of Common Stock | $0 | $0 | — | — | — | — | — | — | — | — | |
| Proceeds from Noncontrolling Interests | $8.0m | — | — | — | — | — | — | — | — | — | |
| Proceeds from (Payments to) Noncontrolling Interests | ($1.8m) | $677k | ($12.3m) | $2.4m | ($63.0m) | ($13.5m) | $0 | — | $300k | $0 | |
| Dividends paid | $1.3m | $500k | $500k | — | — | — | $5.2m | $2.2m | $1.2m | $2.2m | |
| Dividends Payable | — | — | — | — | — | — | — | — | — | $400k | |
| Proceeds from (Payments for) Other Financing Activities | ($44k) | $369k | ($1.5m) | ($4.1m) | ($5.0m) | ($4.2m) | ($700k) | ($300k) | $0 | ($200k) | |
| Net Cash Provided by (Used in) Financing Activities | $18.8m | $115.3m | $115.2m | $62.4m | ($204.6m) | $4.3m | $68.1m | ($65.3m) | ($26.5m) | ($61.2m) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($1.0m) | $300k | ($500k) | $1.0m | $700k | ($1.3m) | ($1.4m) | ($200k) | ($1.7m) | $600k | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($1.0m) | $300k | $231.5m | ($89.8m) | $38.7m | $2.2m | $34.7m | $100k | ($33.0m) | $63.4m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($1.0m) | $300k | $330.4m | $240.6m | $233.8m | $47.5m | $82.2m | $82.3m | $49.3m | $112.7m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $39.2m | $47.6m | $69.9m | $75.9m | $62.5m | $32.6m | $42.5m | $49.0m | $48.6m | $30.0m | |
| Income Taxes Paid, Net | $20.9m | $19.2m | $13.1m | $7.9m | ($100k) | $5.4m | $5.9m | $6.7m | $3.5m | $6.4m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.