INNOVATE Corp
For the period ended Sep 30, 2024. Filed Nov 6, 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.
Sep 30, 2024 · Filed Nov 6, 2024
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(10) Other Assets, Accrued Liabilities and Other Liabilities
- Other Assets, Accrued Liabilities and Other Liabilities
Other Current Assets
Other current assets consisted of the following (in millions):
| September 30,2024 | December 31, 2023 | |
|---|---|---|
| Prepaid assets | $10.6 | $11.2 |
| Income tax receivable | 1.4 | 2.1 |
| Restricted cash - current | 0.9 | 0.9 |
| Other | 3.1 | 0.4 |
| Total other current assets | $16.0 | $14.6 |
Other Assets
Other assets, which are reflected within non-current assets in the Condensed Consolidated Balance Sheets, consisted of the following (in millions):
| September 30,2024 | December 31, 2023 | |
|---|---|---|
| Right-of-use assets | $53.4 | $58.0 |
| Restricted cash - non-current | 0.6 | 0.6 |
| Other | 6.4 | 2.7 |
| Total other assets | $60.4 | $61.3 |
Accrued Liabilities
Accrued liabilities consisted of the following (in millions):
| September 30,2024 | December 31, 2023 | |
|---|---|---|
| Accrued expenses | $12.7 | $14.3 |
| Accrued payroll and employee benefits | 32.0 | 29.2 |
| Accrued interest and exit fees | 47.9 | 17.1 |
| Accrued sales and use taxes | 0.2 | 9.8 |
| Accrued income taxes | 0.5 | 0.4 |
| Total accrued liabilities | $93.3 | $70.8 |
Other Current Liabilities
Other current liabilities consisted of the following (in millions):
| September 30,2024 | December 31, 2023 | |
|---|---|---|
| Operating lease liability, current portion | $13.0 | $13.5 |
| Other | 3.3 | 2.6 |
| Total other current liabilities | $16.3 | $16.1 |
Other Liabilities
Other liabilities, which are reflected within non-current liabilities in the Condensed Consolidated Balance Sheets, consisted of the following (in millions):
| September 30,2024 | December 31, 2023 | |
|---|---|---|
| Operating lease liability, net of current portion | $43.1 | $48.6 |
| Accrued interest and exit fees (non-current portion) | 1.8 | 30.8 |
| Other | 2.9 | 3.3 |
| Total other liabilities | $47.8 | $82.7 |
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