HC2 Holdings, Inc. (HCHC) financial statements (2021 and earlier)

Company profile

Business Address 450 PARK AVENUE
NEW YORK, NY 10022
State of Incorp. DE
Fiscal Year End December 31
SIC 344 - Fabricated Structural Metal Products (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

Current Assets
Cash, cash equivalents, and short-term investments33252698115159113
Cash and cash equivalents23932598115159108
Short-term investments93201   5
Inventory, net of allowances, customer advances and progress billings232113101215
Contract with customer, asset317375
Disposal group, including discontinued operation   164
Costs in excess of billings 153928
Deferred tax assets    2
Other undisclosed current assets     19
Total current assets:1,0091,301433408427332
Noncurrent Assets
Finance lease, right-of-use asset35
Operating lease, right-of-use asset70
Property, plant and equipment406376375286214233
Long-term investments and receivables857185591,35451
Long-term investments857185591,35451
Intangible assets, net (including goodwill)3543912491389162
Intangible assets, net (excluding goodwill)227219117402931
Restricted cash and investments   016
Deferred income tax assets3
Other noncurrent assets257208102336522
Deferred tax assets, net   4814
Total noncurrent assets:1,2091,0468115161,773388
Other undisclosed assets4,7414,1571,9741,911542 
TOTAL ASSETS:6,9586,5043,2182,8352,743720
Current Liabilities
Accounts payable and accrued liabilities     138
Accounts payable     80
Accrued liabilities     34
Employee-related liabilities     20
Taxes payable     1
Interest and dividends payable     3
Debt     10
Billings in excess of cost 432142
Other undisclosed current liabilities     10
Total current liabilities:   4321200
Noncurrent Liabilities
Long-term debt and lease obligation, including:1,025  438 333
Long-term debt, excluding current maturities   428 333
Other undisclosed long-term debt and lease obligation1,025  10  
Liabilities, other than long-term debt29011170654339
Deferred tax liabilities, net  15  
Deferred income tax liabilities84
Liability, pension and other postretirement and postemployment benefits   222537
Other liabilities2061117027182
Total noncurrent liabilities:1,3151117050343372
Other undisclosed liabilities5,1786,1712,9312,1892,505 
Total liabilities:6,4936,2823,0022,7362,569572
Temporary equity, carrying amount222828325644
Stockholders' equity
Stockholders' equity attributable to parent3508873449479
Common stock  0000
Treasury stock, value(3)(3)(2)(1)(0)(0)
Additional paid in capital281261255241209142
Accumulated other comprehensive income (loss)169(113)42(22)(35)(18)
Accumulated deficit(97)(57)(221)(174)(80)(44)
Stockholders' equity attributable to noncontrolling interest94106115232325
Total stockholders' equity:44419418867118104
TOTAL LIABILITIES AND EQUITY:6,9586,5043,2182,8352,743720

Income statement (P&L) ($ in millions)

Revenue, net1,4831,4161,118547
Cost of revenue(1,425)(1,585)(1,313)(4)(0)(178)
Cost of goods and services sold(9)(7)(5)(4) (178)
Amortization of value of business acquired (voba)    (0) 
Gross profit:5593923211,5541,121370
Operating expenses(301)(2,033)(1,635)(1,560)(1,119)(561)
Other operating income, net6     
Other undisclosed operating income (loss)(234)1,5851,31340178
Operating income (loss):29(56)(1)(1)2(14)
Nonoperating income (expense)7299(13)(3)(7)(0)
Investment income, nonoperating1221    
Foreign currency transaction loss, before tax     (0)
Other nonoperating income (expense)679(13)(3)(7) 
Interest and debt expense(95)(76)(55)(43)(39)(23)
Other undisclosed loss from continuing operations before equity method investments, income taxes     (1)
Income (loss) from continuing operations before equity method investments, income taxes:(59)168(69)(48)(44)(37)
Income (loss) from equity method investments2151811(3)3
Other undisclosed income (loss) from continuing operations before income taxes (1)11(9)  
Income (loss) from continuing operations before income taxes:(57)182(40)(46)(47)(35)
Income tax expense (benefit)21(2)(11)(52)1123
Income (loss) from continuing operations:(36)180(50)(97)(36)(12)
Loss from discontinued operations    (0)(0)
Income (loss) before gain (loss) on sale of properties:(36)180(50)(97)(36)(12)
Other undisclosed net loss     (0)
Net income (loss):(36)180(50)(97)(36)(12)
Net income (loss) attributable to noncontrolling interest5(18)430(3)
Net income (loss) attributable to parent:(32)162(47)(95)(36)(14)
Preferred stock dividends and other adjustments (6)(3)(11)(4)2
Other undisclosed net loss available to common stockholders, basic     (4)
Net income (loss) available to common stockholders, diluted:(32)156(50)(105)(40)(16)

Comprehensive Income ($ in millions)

Net income (loss):(36)180(50)(97)(36)(12)
Other comprehensive income (loss)279(161)63   
Comprehensive income (loss):2431913(97)(36)(12)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(8)(15)430(3)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent   14(17)(4)
Comprehensive income (loss), net of tax, attributable to parent:235416(81)(53)(19)

Statements sources

The financial statements are based on the company's filings with the 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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