Fortrea Holdings Inc

For the period ended Dec 31, 2023. Filed Mar 13, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 13, 2024

FTRE$21.39-3.8%Stored close · as of Nov 10, 2026

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Contents

Consolidated and Combined Balance Sheets

	December 31,2023	December 31,2022
ASSETS
Current assets:
Cash and cash equivalents	$108.6	$112.0
Accounts receivable and unbilled services, net	1,052.1	1,022.2
Prepaid expenses and other	92.4	112.7
Total current assets	1,253.1	1,246.9
Property, plant and equipment, net	220.9	164.9
Goodwill, net	2,029.3	1,997.3
Intangible assets, net	771.2	823.3
Deferred income taxes	3.2	1.2
Other assets, net	79.5	54.3
Total assets	$4,357.2	$4,287.9
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$132.8	$81.5
Accrued expenses and other current liabilities	356.1	322.7
Unearned revenue	241.4	271.5
Current portion of long-term debt	26.1	—
Short-term operating lease liabilities	19.5	23.3
Total current liabilities	775.9	699.0
Long-term debt, less current portion	1,565.9	—
Operating lease liabilities	66.5	40.1
Deferred income taxes and other tax liabilities	148.8	184.5
Other liabilities	61.3	21.7
Total liabilities	$2,618.4	$945.3
Commitments and contingent liabilities (Note 15)
Equity:
Former parent investment	—	3,618.6
Common stock, 88.8 and 0.0 shares outstanding at December 31, 2023, and December 31, 2022, respectively	0.1	—
Additional paid-in capital	2,006.2	—
Accumulated deficit	(49.1)	—
Accumulated other comprehensive loss	(218.4)	(276.0)
Total equity	1,738.8	3,342.6
Total liabilities and equity	$4,357.2	$4,287.9

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.