INNOVATE Corp
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
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(20) Supplementary Financial Information
- Supplementary Financial Information
Other income (expense), net
The following table provides information relating to Other income (expense), net (in millions):
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Gain on sale of investment | $— | $— | $— | $12.2 |
| Gain on step-up of equity method investment | — | — | — | 3.8 |
| Loss on debt extinguishment | — | — | (2.2) | — |
| Other | 0.2 | 0.3 | 1.2 | 0.8 |
| Total other income (expense), net | $0.2 | $0.3 | $(1.0) | $16.8 |
Supplemental Cash Flow Information
The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows (in millions):
| Six Months Ended June 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash and cash equivalents, beginning of the period | $80.8 | $80.4 |
| Restricted cash included in other current assets | 0.9 | 0.3 |
| Restricted cash included in other assets (non-current) | 0.6 | 1.5 |
| Total cash, cash equivalents and restricted cash, beginning of the period | $82.3 | $82.2 |
| Cash and cash equivalents, end of the period | $80.2 | $28.8 |
| Restricted cash included in other current assets | 0.9 | — |
| Restricted cash included in other assets (non-current) | 0.6 | 1.4 |
| Total cash and cash equivalents and restricted cash, end of the period | $81.7 | $30.2 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $22.7 | $23.7 |
| Cash paid for income taxes, net of refunds | $0.6 | $6.0 |
| Non-cash investing and financing activities: | ||
| Unsecured note issued in connection with purchase of preferred stock and payment of dividends | $— | $35.1 |
| Accrued interest, exit fees and other fees capitalized into principal debt | $4.3 | $— |
| Property, plant and equipment included in accounts payable or accrued expenses | $1.2 | $1.5 |
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