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)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 310 | 332 | 526 | 98 | 115 | 159 | 113 | ||
| Cash and cash equivalents | 232 | 239 | 325 | 98 | 115 | 159 | 108 | ||
| Short-term investments | 77 | 93 | 201 | 5 | |||||
| Receivables | 185 | 338 | 379 | 322 | 268 | 211 | 152 | ||
| Inventory, net of allowances, customer advances and progress billings | 10 | 23 | 21 | 13 | 10 | 12 | 15 | ||
| Inventory | 10 | 23 | 21 | 13 | 10 | 12 | 15 | ||
| Contract with customer, asset | 176 | 317 | 375 | ✕ | ✕ | ✕ | ✕ | ||
| Disposal group, including discontinued operation | 20 | 1 | 6 | 4 | |||||
| Costs in excess of billings | ✕ | ✕ | ✕ | 15 | 39 | 28 | |||
| Deferred tax assets | ✕ | ✕ | 2 | ||||||
| Other undisclosed current assets | 19 | ||||||||
| Total current assets: | 700 | 1,009 | 1,301 | 433 | 408 | 427 | 332 | ||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset | 1 | 35 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Operating lease, right-of-use asset | 44 | 70 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Property, plant and equipment | 406 | 376 | 375 | 286 | 214 | 240 | |||
| Long-term investments and receivables | 46 | 85 | 71 | 85 | 59 | 1,354 | 49 | ||
| Long-term investments | 46 | 85 | 71 | 85 | 59 | 1,354 | 49 | ||
| Intangible assets, net (including goodwill) | 286 | 354 | 391 | 249 | 138 | 91 | 90 | ||
| Goodwill | 111 | 127 | 172 | 132 | 98 | 61 | 28 | ||
| Intangible assets, net (excluding goodwill) | 175 | 227 | 219 | 117 | 40 | 29 | 62 | ||
| Restricted cash and investments | 0 | 1 | 6 | ||||||
| Disposal group, including discontinued operation, noncurrent assets | 9 | ||||||||
| Deferred income tax assets | 4 | 3 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other noncurrent assets | 172 | 257 | 208 | 102 | 33 | 65 | 22 | ||
| Deferred tax assets, net | ✕ | ✕ | 48 | 16 | |||||
| Other undisclosed noncurrent assets | (31) | ||||||||
| Total noncurrent assets: | 562 | 1,209 | 1,046 | 811 | 516 | 1,773 | 392 | ||
| Other undisclosed assets | 5,480 | 4,741 | 4,157 | 1,974 | 1,911 | 542 | |||
| TOTAL ASSETS: | 6,743 | 6,958 | 6,504 | 3,218 | 2,835 | 2,743 | 724 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 137 | ||||||||
| 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 | ✕ | ✕ | ✕ | 43 | 21 | 42 | |||
| Other undisclosed current liabilities | 16 | ||||||||
| Total current liabilities: | 43 | 21 | 206 | ||||||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 654 | 1,025 | 438 | 333 | |||||
| Long-term debt, excluding current maturities | 428 | 333 | |||||||
| Other undisclosed long-term debt and lease obligation | 654 | 1,025 | 10 | ||||||
| Liabilities, other than long-term debt | 268 | 290 | 111 | 70 | 65 | 43 | 33 | ||
| Deferred tax liabilities, net | ✕ | ✕ | 15 | ||||||
| Deferred income tax liabilities | 142 | 84 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Liability, pension and other postretirement and postemployment benefits | 22 | 25 | 31 | ||||||
| Disposal group, including discontinued operation, liabilities | 9 | ||||||||
| Other liabilities | 116 | 206 | 111 | 70 | 27 | 18 | 2 | ||
| Total noncurrent liabilities: | 922 | 1,315 | 111 | 70 | 503 | 43 | 366 | ||
| Other undisclosed liabilities | 5,205 | 5,178 | 6,171 | 2,931 | 2,189 | 2,505 | |||
| Total liabilities: | 6,127 | 6,493 | 6,282 | 3,002 | 2,736 | 2,569 | 571 | ||
| Temporary equity, carrying amount | 16 | 22 | 28 | 28 | 32 | 56 | 40 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 560 | 350 | 88 | 73 | 44 | 94 | 90 | ||
| Common stock | 0 | 0 | 0 | 0 | 0 | ||||
| Treasury stock, value | (4) | (3) | (3) | (2) | (1) | (0) | (0) | ||
| Additional paid in capital | 356 | 281 | 261 | 255 | 241 | 209 | 147 | ||
| Accumulated other comprehensive income (loss) | 397 | 169 | (113) | 42 | (22) | (35) | (15) | ||
| Accumulated deficit | (189) | (97) | (57) | (221) | (174) | (80) | (42) | ||
| Stockholders' equity attributable to noncontrolling interest | 40 | 94 | 106 | 115 | 23 | 23 | 23 | ||
| Total stockholders' equity: | 600 | 444 | 194 | 188 | 67 | 118 | 113 | ||
| TOTAL LIABILITIES AND EQUITY: | 6,743 | 6,958 | 6,504 | 3,218 | 2,835 | 2,743 | 724 | ||
Income statement (P&L) ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,006 | 1,984 | 1,977 | 1,634 | 1,558 | 1,121 | 543 | |
| Revenue, net | ✕ | ✕ | ✕ | 1,483 | 1,416 | 1,118 | 550 | |
| Net investment income | 189 | 204 | 117 | 66 | 58 | 1 | 4 | |
| Cost of revenue | (589) | (1,425) | (1,585) | (1,313) | (4) | (0) | (471) | |
| Cost of goods and services sold | (9) | (9) | (7) | (5) | (4) | (471) | ||
| Amortization of value of business acquired (voba) | (0) | |||||||
| Gross profit: | 417 | 559 | 392 | 321 | 1,554 | 1,121 | 72 | |
| Operating expenses | (191) | (301) | (2,033) | (1,635) | (1,560) | (1,119) | (558) | |
| Other operating income, net | 20 | 6 | ||||||
| Other undisclosed operating income (loss) | (250) | (234) | 1,585 | 1,313 | 4 | 0 | 471 | |
| Operating income (loss): | (4) | 29 | (56) | (1) | (1) | 2 | (14) | |
| Nonoperating income (expense) | 69 | 7 | 299 | (13) | (3) | (7) | 1 | |
| Investment income, nonoperating | 1 | 221 | (0) | |||||
| Foreign currency transaction gain, before tax | 1 | |||||||
| Other nonoperating income (expense) | 69 | 6 | 79 | (13) | (3) | (7) | ||
| Interest and debt expense | (89) | (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: | (24) | (59) | 168 | (69) | (48) | (44) | (37) | |
| Income (loss) from equity method investments | (3) | 2 | 15 | 18 | 11 | (3) | 3 | |
| Other undisclosed income (loss) from continuing operations before income taxes | (1) | 11 | (9) | (3) | ||||
| Income (loss) from continuing operations before income taxes: | (28) | (57) | 182 | (40) | (46) | (47) | (37) | |
| Income tax expense (benefit) | (11) | 21 | (2) | (11) | (52) | 11 | 24 | |
| Other undisclosed loss from continuing operations | (1) | |||||||
| Income (loss) from continuing operations: | (38) | (36) | 180 | (50) | (97) | (36) | (14) | |
| Loss from discontinued operations | (64) | (0) | (0) | |||||
| Income (loss) before gain (loss) on sale of properties: | (102) | (36) | 180 | (50) | (97) | (36) | (14) | |
| Other undisclosed net income | 4 | |||||||
| Net income (loss): | (102) | (36) | 180 | (50) | (97) | (36) | (10) | |
| Net income (loss) attributable to noncontrolling interest | 10 | 5 | (18) | 4 | 3 | 0 | (3) | |
| Net income (loss) attributable to parent: | (92) | (32) | 162 | (47) | (95) | (36) | (12) | |
| Preferred stock dividends and other adjustments | (4) | (6) | (3) | (11) | (4) | (2) | ||
| Net income (loss) available to common stockholders, diluted: | (96) | (32) | 156 | (50) | (105) | (40) | (14) | |
Comprehensive Income ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (102) | (36) | 180 | (50) | (97) | (36) | (10) | |
| Other comprehensive income (loss) | 230 | 279 | (161) | 63 | ||||
| Comprehensive income (loss): | 128 | 243 | 19 | 13 | (97) | (36) | (10) | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (8) | (8) | (15) | 4 | 3 | 0 | (3) | |
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 14 | (17) | (1) | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | 120 | 235 | 4 | 16 | (81) | (53) | (13) | |
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.