XML 122 R111.htm IDEA: XBRL DOCUMENT v3.25.2
Basic and Diluted (Loss) Income Per Common Share - Schedule of Calculation of Basic Loss Per Common Share to Diluted Loss Per Common Share (Details)
$ / shares in Units, $ in Millions
3 Months Ended 6 Months Ended
Aug. 08, 2024
Jun. 30, 2025
USD ($)
$ / shares
shares
Jun. 30, 2024
USD ($)
$ / shares
shares
Jun. 30, 2025
USD ($)
$ / shares
shares
Jun. 30, 2024
USD ($)
$ / shares
shares
Earnings Per Share [Abstract]          
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, basic   (22.0) 14.1 (46.8) (3.6)
Net (loss) income attributable to common stockholders and participating preferred stockholders, diluted   $ (22.0) $ 14.1 $ (46.8) $ (3.6)
Weighted-average common shares outstanding          
Weighted-average common shares outstanding (in shares) | shares [1]   13,146,750 8,920,485 13,130,930 8,392,923
Unvested restricted stock (in shares) | shares   0 112,293 0 0
Series C Preferred stock (in shares) | shares   0 3,653,063 0 [1] 1,905,025 [1]
Total (in shares) | shares   13,146,750 12,685,841 13,130,930 10,297,948
Percentage of (loss) earnings allocated to:          
Common stock (as percent)   100.00% 70.30% 100.00% 81.50%
Unvested restricted stock (as percent)   0.00% 0.90% 0.00% 0.00%
Series C Preferred stock (as percent)   0.00% 28.80% 0.00% 18.50%
Numerator and denominator for (loss) per share          
Net (loss) income attributable to common stock holders, basic   $ (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   0.0 4.9 0.0 0.0
Net (loss) income attributable to common stock holders, diluted   $ (22.0) $ 14.8 $ (46.8) $ (2.9)
Weighted-average common shares outstanding (in shares) | shares [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 (in shares) | shares   0 5,505,271 0 0
Weighted average common shares outstanding - diluted (in shares) | shares [1]   13,146,750 14,425,756 13,130,930 8,392,923
(Loss) income per share          
Loss per share - basic (in usd per share) | $ / shares [1]   $ (1.67) $ 1.11 $ (3.56) $ (0.35)
Loss per share - diluted (in usd per share) | $ / shares [1]   $ (1.67) $ 1.03 $ (3.56) $ (0.35)
Reverse stock split, conversion ratio 0.1        
[1] Basic and diluted (loss) earnings per common share and basic and diluted weighted-average common shares outstanding for the three and six months ended June 30, 2024, have been retroactively adjusted to reflect the 1-for-10 reverse stock split effected on August 8, 2024.