Custom Truck One Source Inc. (CTOS) Financial Statements (2024 and earlier)

Company Profile

Business Address 7701 INDEPENDENCE AVENUE
KANSAS CITY, MO 64125
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7359 - Equipment Rental and Leasing, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments10,30914,36035,9023,4126,302468
Cash and cash equivalents10,30914,36035,9023,4126,302468
Receivables245,934236,430202,18860,93371,323 
Inventory, net of allowances, customer advances and progress billings985,794596,724410,54231,36733,001 
Inventory985,794596,724410,54231,36733,001 
Other undisclosed current assets23,86220,7318,0727,5305,2171
Total current assets:1,265,899868,245656,704103,242115,843470
Noncurrent Assets
Operating lease, right-of-use asset38,42629,43436,014  
Property, plant and equipment 37,91634,587 6,2696,561 
Long-term investments and receivables    498713 
Accounts and financing receivable, after allowance for credit loss    498713 
Intangible assets, net (including goodwill)981,2231,007,9591,023,705305,631308,747 
Goodwill704,011703,827695,865238,052238,195 
Intangible assets, net (excluding goodwill)277,212304,132327,84067,57970,552 
Asset, held-in-trust      407,728
Deferred income tax assets    16,952 
Other noncurrent assets23,43026,94424,406   
Other undisclosed noncurrent assets1,020,903971,043942,937335,812383,420 
Total noncurrent assets:2,101,8982,069,9672,027,062665,162699,441407,728
TOTAL ASSETS:3,367,7972,938,2122,683,766768,404815,284408,197
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:191,500156,039151,46063,82068,76291
Accounts payable117,65387,25591,12331,82941,172 
Accrued liabilities73,84768,78460,33731,99127,590 
Other undisclosed accounts payable and accrued liabilities      91
Deferred revenue28,75834,67135,791  
Debt8,2578,73610,3921,2801,280 
Deferred rent credit6,5645,2624,9879752,270 
Due to related parties3626   
Other undisclosed current liabilities662,310430,134237,9275,2765,451 
Total current liabilities:897,389634,878440,58371,35177,76391
Noncurrent Liabilities
Long-term debt and lease obligation1,487,1361,357,9721,344,888715,858713,023 
Long-term debt, excluding current maturities1,487,1361,354,7661,308,265715,858713,023 
Finance lease, liability  3,2065,109  
Liabilities, other than long-term debt66,06956,91939,7857,01213,99710
Accounts payable and accrued liabilities      10
Deferred income tax liabilities33,35529,08615,621 12,288
Other liabilities    7,0121,709 
Operating lease, liability32,71424,81831,514  
Derivative instruments and hedges, liabilities  3,01524,164   
Other undisclosed noncurrent liabilities    5,25022,63114,078
Total noncurrent liabilities:1,553,2051,414,8911,384,673728,120749,65114,088
Total liabilities:2,450,5942,049,7691,825,256799,471827,41414,178
Temporary equity, carrying amount      389,019
Equity
Equity, attributable to parent, including:917,203888,443858,510(31,067)(12,130)5,000
Common stock25252555 
Treasury stock, value(56,524)(15,537)(3,020)   
Additional paid in capital1,537,5531,521,4871,508,995434,917432,577602
Accumulated other comprehensive loss(5,978)(8,947)    
Retained earnings (accumulated deficit)(557,873)(608,585)(647,490)(465,989)(444,712)4,396
Other undisclosed equity, attributable to parent      1
Total equity:917,203888,443858,510(31,067)(12,130)5,000
TOTAL LIABILITIES AND EQUITY:3,367,7972,938,2122,683,766768,404815,284408,197

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues1,865,1001,573,0861,167,154302,739264,035240
Cost of revenue(1,410,840)(1,189,338)(957,141)(226,296)(177,487) 
Cost of goods and services sold(170,664)(171,703)(157,110)(226,296)(177,487) 
Gross profit:454,260383,748210,01376,44386,548240
Operating expenses(283,312)(280,440)(251,980)(59,195)(50,530)(1,554)
Other undisclosed operating loss      (240)
Operating income (loss):170,948103,308(41,967)17,24836,018(1,554)
Nonoperating income (expense)(112,872)(56,576)(135,109)(68,599)(69,056)6,684
Investment income, nonoperating      6,684
Other nonoperating income (expense)18,44332,330(571)(5,399)(1,690) 
Interest and debt expense(300)(1,189)(1,431)(3,290)(2,913) 
Other undisclosed income from continuing operations before equity method investments, income taxes    3,2902,913 
Income (loss) from continuing operations before equity method investments, income taxes:57,77645,543(178,507)(51,351)(33,038)5,131
Other undisclosed income from continuing operations before income taxes3001,1891,431   
Income (loss) from continuing operations before income taxes:58,07646,732(177,076)(51,351)(33,038)5,131
Income tax expense (benefit)(7,364)(7,827)(4,425)30,0745,986 
Income (loss) from continuing operations:50,71238,905(181,501)(21,277)(27,052)5,131
Income (loss) before gain (loss) on sale of properties:(181,501)(21,277)(27,052)5,131
Net income (loss):50,71238,905(181,501)(21,277)(27,052)5,131
Other undisclosed net income attributable to parent      43
Net income (loss) attributable to parent:50,71238,905(181,501)(21,277)(27,052)5,174
Preferred stock dividends and other adjustments      (4,988)
Net income (loss) available to common stockholders, diluted:50,71238,905(181,501)(21,277)(27,052)186

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):50,71238,905(181,501)(21,277)(27,052)5,131
Comprehensive income (loss):50,71238,905(181,501)(21,277)(27,052)5,131
Other undisclosed comprehensive income (loss), net of tax, attributable to parent2,969(8,947)  396 
Comprehensive income (loss), net of tax, attributable to parent:53,68129,958(181,501)(21,277)(26,656)5,131

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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