CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 48.8	$ 80.8
Accounts receivable, net	194.0	278.4
Contract assets	106.3	118.6
Inventory	20.8	22.4
Other current assets	21.0	17.7
Total current assets	390.9	517.9
Investments	3.6	1.8
Deferred tax asset	1.6	2.0
Property, plant and equipment, net	133.6	154.6
Goodwill	126.7	127.1
Intangibles, net	172.4	178.9
Other assets	62.3	61.3
Total assets	891.1	1,043.6
Current liabilities
Accounts payable	84.8	142.9
Accrued liabilities	109.7	70.8
Current portion of debt obligations	162.2	30.5
Contract liabilities	109.1	153.5
Other current liabilities	17.2	16.1
Total current liabilities	483.0	413.8
Deferred tax liability	4.4	4.1
Debt obligations	500.6	679.3
Other liabilities	46.8	82.7
Total liabilities	1,034.8	1,179.9
Commitments and contingencies (Note 13)
Temporary equity
Redeemable non-controlling interest	(0.5)	(1.0)
Total temporary equity	15.6	15.4
Stockholders’ deficit
Common stock	0.0	0.0	[1]
Additional paid-in capital	350.1	328.3	[1]
Treasury stock, at cost: 148,800 shares	(5.4)	(5.4)	[1]
Accumulated deficit	(521.9)	(487.3)
Accumulated other comprehensive loss	(3.2)	(1.1)
Total INNOVATE Corp. stockholders’ deficit	(180.4)	(165.5)
Non-controlling interest	21.1	13.8
Total stockholders’ deficit	(159.3)	(151.7)
Total liabilities, temporary equity and stockholders’ deficit	891.1	1,043.6
Series A-3 , A-4 Preferred Stock
Temporary equity
Preferred stock	$ 16.1	$ 16.4

[1] Common stock, Shares issued, Shares outstanding, Additional paid-in capital, and Treasury stock as of December 31, 2023, have been retroactively adjusted to reflect the 1-for-10 reverse stock split effected on August 8, 2024.