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Basic and Diluted (Loss) Income Per Common Share (Tables) | 6 Months Ended
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Jun. 30, 2025
Earnings Per Share [Abstract] |
Schedule of Reconciliation of Net Loss to Net Loss used in the Basic and Diluted EPS Calculations | The following table presents a reconciliation of net loss to net loss used in the basic and diluted EPS calculations (in millions, except shares and per share amounts):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Net (loss) income |  | $ | (21.0) |  |  | $ | 13.9 |  |  | $ | (46.8) |  |  | $ | (6.2) |
Net loss attributable to non-controlling interest and redeemable non-controlling interest |  | 1.2 |  |  | 0.5 |  |  | 2.5 |  |  | 3.2 |
Net (loss) income attributable to INNOVATE Corp. |  | (19.8) |  |  | 14.4 |  |  | (44.3) |  |  | (3.0) |
Less: Preferred dividends |  | 2.2 |  |  | 0.3 |  |  | 2.5 |  |  | 0.6 |
Net (loss) income attributable to common stockholders and participating preferred stockholders |  | $ | (22.0) |  |  | $ | 14.1 |  |  | $ | (46.8) |  |  | $ | (3.6) |
Participating shares |  |  |  |  |  |  |  |
Weighted-average common shares outstanding (1) |  | 13,146,750 |  |  | 8,920,485 |  |  | 13,130,930 |  |  | 8,392,923 |
Unvested restricted stock (1) |  | — |  |  | 112,293 |  |  | — |  |  | — |
Series C Preferred stock (1) |  | — |  |  | 3,653,063 |  |  | — |  |  | 1,905,025 |
Total |  | 13,146,750 |  |  | 12,685,841 |  |  | 13,130,930 |  |  | 10,297,948 |
Percentage of (loss) earnings allocated to: |  |  |  |  |  |  |  |
Common stock |  | 100.0 | % |  | 70.3 | % |  | 100.0 | % |  | 81.5 | %
Unvested restricted stock |  | — | % |  | 0.9 | % |  | — | % |  | — | %
Series C Preferred stock |  | — | % |  | 28.8 | % |  | — | % |  | 18.5 | %
Numerator for (loss) earnings per share: |  |  |  |  |  |  |  |
Net (loss) income attributable to common stockholders, basic and diluted |  | $ | (22.0) |  |  | $ | 9.9 |  |  | $ | (46.8) |  |  | $ | (2.9) |
Effect of assumed shares under the if-converted method for preferred stock, convertible instruments and unvested restricted stock |  | — |  |  | 4.9 |  |  | — |  |  | — |
Net (loss) income attributable to common stockholders, diluted |  | $ | (22.0) |  |  | $ | 14.8 |  |  | $ | (46.8) |  |  | $ | (2.9) |
Denominator for (loss) earnings per share: |  |  |  |  |  |  |  |
Weighted-average common shares outstanding - basic (1) |  | 13,146,750 |  |  | 8,920,485 |  |  | 13,130,930 |  |  | 8,392,923 |
Effect of assumed shares under the if-converted method for preferred stock, convertible instruments and participating unvested restricted stock (1) |  | — |  |  | 5,505,271 |  |  | — |  |  | — |
Weighted-average common shares outstanding - diluted (1) |  | 13,146,750 |  |  | 14,425,756 |  |  | 13,130,930 |  |  | 8,392,923 |
(Loss) income per share |  |  |  |  |  |  |  |
Basic (1) |  | $ | (1.67) |  |  | $ | 1.11 |  |  | $ | (3.56) |  |  | $ | (0.35) |
Diluted (1) |  | $ | (1.67) |  |  | $ | 1.03 |  |  | $ | (3.56) |  |  | $ | (0.35) |
(1) Basic and diluted income (loss) per common share and weighted-average common shares outstanding for the three and six months ended June 30, 2024, in the table above have been retroactively adjusted to reflect the 1-for-10 reverse stock split effected on August 8, 2024.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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