INNOVATE Corp.
For the period ended Mar 31, 2026. Filed May 14, 2026.
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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, 2026 · Filed May 14, 2026
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) Property, Plant and Equipment, Net
- Property, Plant and Equipment, Net
Property, plant and equipment, net, ("PP&E") consisted of the following (in millions):
| March 31,2026 | December 31, 2025 | |
|---|---|---|
| Equipment, furniture and fixtures, and software | $230.7 | $223.3 |
| Building and leasehold improvements | 44.8 | 42.4 |
| Land | 25.4 | 25.3 |
| Construction in progress | 18.2 | 16.3 |
| Plant and transportation equipment | 6.6 | 6.7 |
| $325.7 | $314.0 | |
| Less: Accumulated depreciation | 177.6 | 172.2 |
| Total | $148.1 | $141.8 |
Depreciation expense was $5.7 million and $5.9 million for the three months ended March 31, 2026 and 2025, respectively. These amounts included $3.2 million and $3.5 million of depreciation expense recognized within cost of revenue for the three months ended March 31, 2026 and 2025, respectively.
As of March 31, 2026 and December 31, 2025, the gross value of capitalized internal-use software included in PP&E was $22.9 million and $21.0 million, respectively, and the net book value as of March 31, 2026 and December 31, 2025, was $7.3 million and $6.6 million, respectively.
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