INNOVATE Corp.
For the period ended Mar 31, 2025. Filed May 6, 2025.
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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.
Mar 31, 2025 · Filed May 6, 2025
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(2) 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 March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Gain on step-up of equity method investment | 4.4 | — |
| Net loss on extinguishment of debt | — | (2.2) |
| Interest income | 0.4 | 0.5 |
| Foreign currency translation (loss) gain | (0.4) | 0.5 |
| Other | (0.4) | — |
| Total other income (expense), net | $4.0 | $(1.2) |
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):
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash and cash equivalents, beginning of the period | $48.8 | $80.8 |
| Restricted cash included in other current assets | — | 0.9 |
| Restricted cash included in other assets (non-current) | 0.5 | 0.6 |
| Total cash, cash equivalents and restricted cash, beginning of the period | $49.3 | $82.3 |
| Cash and cash equivalents, end of the period | $33.3 | $38.4 |
| Restricted cash included in other current assets | — | 0.9 |
| Restricted cash included in other assets (non-current) | 0.6 | 0.6 |
| Total cash and cash equivalents and restricted cash, end of the period | $33.9 | $39.9 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $19.5 | $19.6 |
| Cash paid for income taxes (proceeds from tax refunds), net | $0.8 | $(0.8) |
| Non-cash investing and financing activities: | ||
| Accrued interest capitalized into principal debt | $1.2 | $3.3 |
| Property, plant and equipment included in accounts payable or accrued expenses | $1.1 | $0.9 |
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