Fortrea Holdings Inc
For the period ended Mar 31, 2024. Filed May 24, 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.
Mar 31, 2024 · Filed May 24, 2024
FTRE$21.39-3.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated and Combined Balance Sheets
PART I - FINANCIAL INFORMATION
CONDENSED CONSOLIDATED BALANCE SHEETS
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $92.8 | $108.6 |
| Accounts receivable and unbilled services, net | 941.0 | 988.5 |
| Prepaid expenses and other | 91.3 | 84.6 |
| Current assets of discontinued operations | 74.9 | 69.1 |
| Total current assets | 1,200.0 | 1,250.8 |
| Property, plant and equipment, net | 167.4 | 172.6 |
| Goodwill, net | 1,727.6 | 1,739.4 |
| Intangible assets, net | 707.9 | 728.1 |
| Deferred income taxes | 3.2 | 3.2 |
| Other assets, net | 89.0 | 69.7 |
| Long-term assets of discontinued operations | 345.1 | 368.8 |
| Total assets | $4,240.2 | $4,332.6 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $131.3 | $132.9 |
| Accrued expenses and other current liabilities | 328.7 | 335.5 |
| Unearned revenue | 236.9 | 214.2 |
| Current portion of long-term debt | 55.0 | 26.1 |
| Short-term operating lease liabilities | 15.2 | 17.2 |
| Current liabilities of discontinued operations | 51.2 | 52.5 |
| Total current liabilities | 818.3 | 778.4 |
| Long-term debt, less current portion | 1,559.4 | 1,565.9 |
| Operating lease liabilities | 59.5 | 62.8 |
| Deferred income taxes and other tax liabilities | 150.7 | 147.7 |
| Long-term liabilities of discontinued operations | 31.5 | 31.6 |
| Other liabilities | 28.9 | 32.1 |
| Total liabilities | $2,648.3 | $2,618.5 |
| Commitments and contingent liabilities (Note 9) | ||
| Equity | ||
| Common stock, 89.4 and 88.8 shares outstanding at March 31, 2024 and December 31, 2023, respectively | 0.1 | 0.1 |
| Additional paid-in capital | 2,002.9 | 1,998.0 |
| Accumulated deficit | (169.5) | (68.5) |
| Accumulated other comprehensive loss | (241.6) | (215.5) |
| Total equity | $1,591.9 | $1,714.1 |
| Total liabilities and equity | $4,240.2 | $4,332.6 |
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