2022 Q1 Form 10-Q Financial Statement

#000100683722000050 Filed on May 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q1
Revenue $412.8M $394.8M $171.8M
YoY Change 140.28% 121.8% -7.93%
Cost Of Revenue $363.0M $333.1M $141.3M
YoY Change 156.9% 136.58% -9.89%
Gross Profit $49.80M $61.70M $30.50M
YoY Change 63.28% 65.86% 2.35%
Gross Profit Margin 12.06% 15.63% 17.75%
Selling, General & Admin $42.60M $47.40M $37.10M
YoY Change 14.82% 30.58% -4.63%
% of Gross Profit 85.54% 76.82% 121.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.60M $11.60M $6.200M
YoY Change 70.97% 75.76% -7.46%
% of Gross Profit 21.29% 18.8% 20.33%
Operating Expenses $42.60M $54.80M $37.10M
YoY Change 14.82% 60.23% -4.63%
Operating Profit $700.0K $6.900M -$10.90M
YoY Change -106.42% 130.0% -19.85%
Interest Expense $12.60M -$10.50M $21.40M
YoY Change -41.12% -41.67% 11.46%
% of Operating Profit 1800.0% -152.17%
Other Income/Expense, Net -$100.0K -$100.0K $3.400M
YoY Change -102.94% -97.37% 126.67%
Pretax Income -$12.50M -$3.700M -$41.80M
YoY Change -70.1% -68.38% 5.56%
Income Tax $1.600M $1.800M $1.100M
% Of Pretax Income
Net Earnings -$12.40M -$4.700M $12.60M
YoY Change -198.41% 0.0% -115.16%
Net Earnings / Revenue -3.0% -1.19% 7.33%
Basic Earnings Per Share -$0.18 $0.15
Diluted Earnings Per Share -$0.18 -$60.72K $0.15
COMMON SHARES
Basic Shares Outstanding 77.30M shares 77.77M shares 76.90M shares
Diluted Shares Outstanding 77.30M shares 76.90M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.40M $45.50M $54.20M
YoY Change -51.29% 3.88% -98.72%
Cash & Equivalents $26.40M $45.50M $54.20M
Short-Term Investments
Other Short-Term Assets $12.20M $10.90M $21.30M
YoY Change -42.72% 25.29% -97.78%
Inventory $19.50M $17.00M
Prepaid Expenses
Receivables $274.4M $247.1M $186.4M
Other Receivables $265.5M $237.4M $128.9M
Total Short-Term Assets $476.6M $442.6M $5.920B
YoY Change -91.95% -92.89% 6.91%
LONG-TERM ASSETS
Property, Plant & Equipment $237.0M $239.5M $149.3M
YoY Change 58.74% 112.32% -33.17%
Goodwill $127.5M $127.4M $110.9M
YoY Change 14.97% 14.77% -0.98%
Intangibles $204.2M $208.4M $167.1M
YoY Change 22.2% 21.09% -24.08%
Long-Term Investments $43.90M $44.20M $40.90M
YoY Change 7.33% 1.38%
Other Assets $74.80M $73.30M $41.50M
YoY Change 80.24% 73.7% -83.13%
Total Long-Term Assets $635.6M $638.0M $485.6M
YoY Change 30.89% 28.5% -39.41%
TOTAL ASSETS
Total Short-Term Assets $476.6M $442.6M $5.920B
Total Long-Term Assets $635.6M $638.0M $485.6M
Total Assets $1.112B $1.081B $6.406B
YoY Change -82.64% -83.93% 1.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.4M $179.2M $70.20M
YoY Change 185.47% 157.1% -52.37%
Accrued Expenses $86.10M $93.40M $78.60M
YoY Change 9.54% 21.14% -56.5%
Deferred Revenue $55.10M $79.10M
YoY Change 138.25%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $80.10M $69.50M $82.80M
YoY Change -3.26% -83.97% -80.9%
Total Short-Term Liabilities $441.5M $439.5M $5.470B
YoY Change -91.93% -92.59% 1.7%
LONG-TERM LIABILITIES
Long-Term Debt $601.0M $556.8M $463.3M
YoY Change 29.72% 335.34% -32.46%
Other Long-Term Liabilities $63.30M $63.30M $34.00M
YoY Change 86.18% 59.05% -80.09%
Total Long-Term Liabilities $63.30M $63.30M $34.00M
YoY Change 86.18% 59.05% -80.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $441.5M $439.5M $5.470B
Total Long-Term Liabilities $63.30M $63.30M $34.00M
Total Liabilities $1.115B $1.069B $5.975B
YoY Change -81.33% -82.5% -4.56%
SHAREHOLDERS EQUITY
Retained Earnings -$428.6M -$416.2M -$176.1M
YoY Change 143.38% 120.56% -2.06%
Common Stock $330.9M $330.7M $355.8M
YoY Change -7.0% -7.05% 25.86%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.200M $5.200M $5.200M
YoY Change 0.0% 23.81% 23.81%
Treasury Stock Shares 1.389M shares 1.389M shares 1.385M shares
Shareholders Equity -$95.90M -$84.30M $389.6M
YoY Change
Total Liabilities & Shareholders Equity $1.112B $1.081B $6.406B
YoY Change -82.64% -83.93% 1.06%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q1
OPERATING ACTIVITIES
Net Income -$12.40M -$4.700M $12.60M
YoY Change -198.41% 0.0% -115.16%
Depreciation, Depletion And Amortization $10.60M $11.60M $6.200M
YoY Change 70.97% 75.76% -7.46%
Cash From Operating Activities -$63.40M $41.60M -$2.500M
YoY Change 2436.0% -143.38% -107.08%
INVESTING ACTIVITIES
Capital Expenditures $4.600M -$9.100M $3.200M
YoY Change 43.75% 184.37% -36.0%
Acquisitions
YoY Change
Other Investing Activities $100.0K $800.0K $1.600M
YoY Change -93.75% -99.16% -223.08%
Cash From Investing Activities -$7.400M -$8.300M $67.90M
YoY Change -110.9% -109.05% 12.98%
FINANCING ACTIVITIES
Cash Dividend Paid $2.400M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $6.200M $356.5M
YoY Change -98.26% 256.86%
Cash From Financing Activities $51.20M -50.30M -$35.90M
YoY Change -242.62% -360.62% -75.78%
NET CHANGE
Cash From Operating Activities -$63.40M 41.60M -$2.500M
Cash From Investing Activities -$7.400M -8.300M $67.90M
Cash From Financing Activities $51.20M -50.30M -$35.90M
Net Change In Cash -$19.10M -17.00M $10.90M
YoY Change -275.23% -212.58% -229.76%
FREE CASH FLOW
Cash From Operating Activities -$63.40M $41.60M -$2.500M
Capital Expenditures $4.600M -$9.100M $3.200M
Free Cash Flow -$68.00M $50.70M -$5.700M
YoY Change 1092.98% -154.69% -118.81%

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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q1 us-gaap Nature Of Operations
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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1. Organization and Business </span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:115%">INNOVATE Corp. ("INNOVATE" and, together with its consolidated subsidiaries, the "Company", "we" and "our") is a diversified holding company that has a portfolio of subsidiaries in a variety of operating segments. We seek to grow these businesses so that they can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. While the Company generally intends to acquire controlling equity interests in its operating subsidiaries, the Company may invest to a limited extent in a variety of debt instruments or noncontrolling equity interest positions. The Company’s shares of common stock trade on the NYSE under the symbol "VATE".</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company currently has three reportable segments, plus our Other segment, based on management’s organization of the enterprise: Infrastructure, Life Sciences, Spectrum, and Other which includes businesses that do not meet the separately reportable segment thresholds.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:107%">1.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:107%;padding-left:29.25pt">Our Infrastructure segment is comprised of DBM Global Inc. ("DBMG") and its wholly-owned subsidiaries. DBMG is a fully integrated Industrial Construction, Structural Steel and Facility Maintenance provider that provides fabrication and erection of structural steel and heavy steel plate services and also fabricates trusses and girders and specializes in the fabrication and erection of large-diameter water pipe and water storage tanks, as well as 3-D Building Information Modeling (“BIM”) and detailing. DBMG provides these services on commercial, industrial, and infrastructure construction projects such as high- and low-rise buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, metal processing, refineries, pulp and paper mills and power plants. Through GrayWolf, DBMG provides integrated solutions for digital engineering, modeling and detailing, construction, heavy equipment installation and facility services including maintenance, repair, and installation to a diverse range of end markets. Through Aitken Manufacturing, DBMG manufactures pollution control scrubbers, tunnel liners, pressure vessels, strainers, filters, separators and a variety of customized products. Through the recently acquired Banker Steel, DBMG provides full-service fabricated structural steel and erection services primarily for the East Coast and Southeast commercial and industrial construction market, in addition to full design-assist services. The Company maintains an approximately 91% controlling interest in DBMG.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:115%">2.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:115%;padding-left:29.25pt">Our Life Sciences segment is comprised of Pansend Life Sciences, LLC ("Pansend"). Pansend maintains controlling interests of approximately 80% in Genovel Orthopedics, Inc. ("Genovel"), which seeks to develop products to treat early osteoarthritis of the knee and approximately 56% in R2 Technologies, Inc. ("R2"), which develops aesthetic and medical technologies for the skin. Pansend also invests in other early stage or developmental stage healthcare companies including an approximately 47% interest in MediBeacon Inc. ("MediBeacon"), a medical technology company specializing in the advances of fluorescent tracer agents and transdermal measurement, and an approximately 26% interest in Triple Ring Technologies, Inc ("Triple Ring"), a science and technology co-development company. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:29.25pt">Our Spectrum segment is comprised of HC2 Broadcasting Holdings Inc. ("Broadcasting") and its subsidiaries. Broadcasting strategically acquires and operates over-the-air broadcasting stations across the United States. In addition, Broadcasting, through its wholly-owned subsidiary, HC2 Network Inc. ("Network"), operates Azteca America, a Spanish-language broadcast network offering high quality Hispanic content to a diverse demographic across the United States. The Company maintains a 98% controlling interest in Broadcasting and maintains a controlling interest of approximately 77%, inclusive of approximately 10% proxy and voting rights from minority holders of DTV America Corporation ("DTV").</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:29.25pt">Our Other segment represents all other businesses or investments that do not meet the definition of a segment individually or in the aggregate. Included in the Other segment is the former Marine Services segment, which includes its holding company, Global Marine Holdings, LLC ("GMH"), in which the Company maintains approximately 73% controlling interest. GMH results include the current and prior year equity investment in HMN Technologies Co., Ltd. (“HMN”), its 19% equity method investment, and the discontinued operations of Global Marine Systems Limited ("GMSL"). Also included in the Other segment is the discontinued operations of Beyond6, Inc. ("Beyond6"), and Continental Insurance Group ("CIG").</span></div>
CY2022Q1 us-gaap Number Of Reportable Segments
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CY2022Q1 us-gaap Use Of Estimates
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates and Assumptions</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The preparation of the Company’s Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions used.</span></div>
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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45500000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
43800000 USD
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2000000.0 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1500000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
47500000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45300000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26400000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
54200000 USD
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2000000.0 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2000000.0 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28400000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
56200000 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
18600000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
10500000 USD
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
400000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
700000 USD
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
0 USD
CY2021Q1 us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
200000 USD
CY2022Q1 hchc Noncash Or Part Noncash Extinguishment Of Convertible Note In Exchange
NoncashOrPartNoncashExtinguishmentOfConvertibleNoteInExchange
0 USD
CY2021Q1 hchc Noncash Or Part Noncash Extinguishment Of Convertible Note In Exchange
NoncashOrPartNoncashExtinguishmentOfConvertibleNoteInExchange
51800000 USD
CY2022Q1 us-gaap Notes Issued1
NotesIssued1
0 USD
CY2021Q1 us-gaap Notes Issued1
NotesIssued1
51800000 USD
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
412800000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
171800000 USD
CY2022Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
264200000 USD
CY2021Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
236500000 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
200000 USD
CY2022Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
255300000 USD
CY2021Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
226800000 USD
CY2022Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
500000 USD
CY2021Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
400000 USD
CY2022Q1 us-gaap Accounts Receivable Gross
AccountsReceivableGross
8800000 USD
CY2021Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
9900000 USD
CY2022Q1 us-gaap Other Receivables
OtherReceivables
10200000 USD
CY2021Q4 us-gaap Other Receivables
OtherReceivables
10600000 USD
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
400000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
600000 USD
CY2022Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
274400000 USD
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
247100000 USD
CY2022Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
267400000 USD
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
265000000.0 USD
CY2022Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
101600000 USD
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
95100000 USD
CY2022Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
165800000 USD
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
169900000 USD
CY2022Q1 us-gaap Depreciation
Depreciation
6400000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
4700000 USD
CY2022Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
100000 USD
CY2021Q4 us-gaap Goodwill
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127400000 USD
CY2022Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
100000 USD
CY2022Q1 us-gaap Goodwill
Goodwill
127500000 USD
CY2022Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
106400000 USD
CY2021Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
106500000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
134300000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
36500000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
97800000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
134200000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
32300000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
101900000 USD
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4200000 USD
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
12900000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
11600000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
8000000.0 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
7300000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
6800000 USD
CY2022Q1 hchc Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
51200000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
97800000 USD
CY2022Q1 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
684600000 USD
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
630800000 USD
CY2022Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
3500000 USD
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
4500000 USD
CY2022Q1 us-gaap Long Term Debt Current
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80100000 USD
CY2021Q4 us-gaap Long Term Debt Current
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69500000 USD
CY2022Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
601000000.0 USD
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
556800000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
100000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
107800000 USD
CY2022Q1 hchc Long Term Debt And Lease Obligations Maturities Repayments Of Principal Remainder Of Year
LongTermDebtAndLeaseObligationsMaturitiesRepaymentsOfPrincipalRemainderOfYear
107900000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
0 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
57900000 USD
CY2022Q1 hchc Long Term Debt And Lease Obligations Maturities Repayments Of Principal In Year One
LongTermDebtAndLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearOne
57900000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
0 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
162800000 USD
CY2022Q1 hchc Long Term Debt And Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
162800000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
42200000 USD
CY2022Q1 hchc Long Term Debt And Lease Obligations Maturities Repayments Of Principal In Year Three
LongTermDebtAndLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearThree
42200000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
471300000 USD
CY2022Q1 hchc Long Term Debt And Lease Obligations Maturities Repayments Of Principal In Year Four
LongTermDebtAndLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFour
471300000 USD
CY2022Q1 hchc Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
0 USD
CY2022Q1 hchc Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
100000 USD
CY2022Q1 hchc Long Term Debt And Lease Obligations Maturities Repayments Of Principal After Year Four
LongTermDebtAndLeaseObligationsMaturitiesRepaymentsOfPrincipalAfterYearFour
100000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
100000 USD
CY2022Q1 hchc Debt Including Interest Payable
DebtIncludingInterestPayable
842100000 USD
CY2022Q1 hchc Long Term Debt And Lease Obligation Including Current Maturities And Interest
LongTermDebtAndLeaseObligationIncludingCurrentMaturitiesAndInterest
842200000 USD
CY2022Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
0 USD
CY2022Q1 hchc Long Term Debt Maturities Interest Included In Payments
LongTermDebtMaturitiesInterestIncludedInPayments
157600000 USD
CY2022Q1 hchc Long Term Debt And Lease Obligations Maturities Interest Included In Payments
LongTermDebtAndLeaseObligationsMaturitiesInterestIncludedInPayments
157600000 USD
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
100000 USD
CY2022Q1 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
684500000 USD
CY2022Q1 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
684600000 USD
CY2019Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
50000 shares
CY2019Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
176.4
CY2019Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
8800000 USD
CY2019Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2022Q1 hchc Costs Incurred On Contracts In Progress
CostsIncurredOnContractsInProgress
2591900000 USD
CY2021Q4 hchc Costs Incurred On Contracts In Progress
CostsIncurredOnContractsInProgress
2161500000 USD
CY2022Q1 hchc Estimated Earnings On Contracts
EstimatedEarningsOnContracts
368100000 USD
CY2021Q4 hchc Estimated Earnings On Contracts
EstimatedEarningsOnContracts
316400000 USD
CY2022Q1 hchc Cost Earned On Uncompleted Contracts Gross
CostEarnedOnUncompletedContractsGross
2960000000 USD
CY2021Q4 hchc Cost Earned On Uncompleted Contracts Gross
CostEarnedOnUncompletedContractsGross
2477900000 USD
CY2022Q1 hchc Progress Billing On Contract
ProgressBillingOnContract
2874500000 USD
CY2021Q4 hchc Progress Billing On Contract
ProgressBillingOnContract
2438400000 USD
CY2022Q1 hchc Cost Earned On Uncompleted Contracts Net
CostEarnedOnUncompletedContractsNet
85500000 USD
CY2021Q4 hchc Cost Earned On Uncompleted Contracts Net
CostEarnedOnUncompletedContractsNet
39500000 USD
CY2022Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
140600000 USD
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
118600000 USD
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
55100000 USD
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
79100000 USD
CY2022Q1 hchc Contract With Customer Net Asset Liability
ContractWithCustomerNetAssetLiability
85500000 USD
CY2021Q4 hchc Contract With Customer Net Asset Liability
ContractWithCustomerNetAssetLiability
39500000 USD
CY2022Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
16700000 USD
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
14300000 USD
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
1100000 USD
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1200000 USD
CY2022Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1700000 USD
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1500000 USD
CY2022Q1 us-gaap Inventory Net
InventoryNet
19500000 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
17000000.0 USD
CY2022Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
16300000 USD
CY2022Q1 us-gaap Equity Method Investments
EquityMethodInvestments
43900000 USD
CY2022Q1 us-gaap Investments
Investments
60200000 USD
CY2021Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
11800000 USD
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
44200000 USD
CY2021Q4 us-gaap Investments
Investments
56000000.0 USD
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-500000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2100000 USD
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
71200000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
69600000 USD
CY2022Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
3600000 USD
CY2021Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
3700000 USD
CY2022Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
74800000 USD
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
73300000 USD
CY2022Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
27200000 USD
CY2021Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
24500000 USD
CY2022Q1 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
36400000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
38900000 USD
CY2022Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
22500000 USD
CY2021Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
29600000 USD
CY2022Q1 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
0 USD
CY2021Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
400000 USD
CY2022Q1 us-gaap Accrued Liabilities Current
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86100000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
93400000 USD
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
58400000 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
58500000 USD
CY2022Q1 hchc Other Liabilities Noncurrent Other
OtherLiabilitiesNoncurrentOther
4900000 USD
CY2021Q4 hchc Other Liabilities Noncurrent Other
OtherLiabilitiesNoncurrentOther
4800000 USD
CY2022Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
63300000 USD
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
63300000 USD
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
71200000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
69600000 USD
CY2022Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
100000 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
200000 USD
CY2022Q1 hchc Lease Right Of Use Asset
LeaseRightOfUseAsset
71300000 USD
CY2021Q4 hchc Lease Right Of Use Asset
LeaseRightOfUseAsset
69800000 USD
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
17100000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
15500000 USD
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
58400000 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
58500000 USD
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
100000 USD
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
100000 USD
CY2022Q1 hchc Lease Liability
LeaseLiability
75600000 USD
CY2021Q4 hchc Lease Liability
LeaseLiability
74100000 USD
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
0 USD
CY2021Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
300000 USD
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 USD
CY2021Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 USD
CY2022Q1 hchc Finance Lease Cost
FinanceLeaseCost
0 USD
CY2021Q1 hchc Finance Lease Cost
FinanceLeaseCost
300000 USD
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
5900000 USD
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3500000 USD
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
100000 USD
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
100000 USD
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
200000 USD
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
0 USD
CY2022Q1 us-gaap Lease Cost
LeaseCost
5800000 USD
CY2021Q1 us-gaap Lease Cost
LeaseCost
3900000 USD
CY2022Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
0 USD
CY2021Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
0 USD
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 USD
CY2021Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
300000 USD
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
6200000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
3700000 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6500000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3900000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y6M
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y6M
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y7M6D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.054
CY2022Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.037
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.042
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
15200000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
100000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
18300000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
0 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
800000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
12500000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
0 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9200000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Three
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