| Schedule of revisions of financial statements |
The impact of revising the Condensed Consolidated Statements of Operations for the period presented is as follows:
| | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | (In thousands, except per share amounts) | | As Previously Reported | | Revision | | As Revised | | Revenues from continuing operations: | | | | | | | | Service revenues | | $ | 476,840 | | | $ | (377) | | | $ | 476,463 | | | | | | | | | | Total revenues | | 548,284 | | | (377) | | | 547,907 | | | | | | | | | | Costs and expenses from continuing operations: | | | | | | | | | | | | | | | Cost of products sold | | 51,361 | | | 1,017 | | | 52,378 | | | Total costs and expenses | | 517,629 | | | 1,017 | | | 518,646 | | | Operating income (loss) from continuing operations | | 30,655 | | | (1,394) | | | 29,261 | | | | | | | | | | Defined benefit pension income (expense) | | (5,033) | | | (168) | | | (5,201) | | Income (loss) from continuing operations before income taxes and equity in income | | (3,110) | | | (1,562) | | | (4,672) | | | Income tax benefit (expense) from continuing operations | | (7,946) | | | 5,945 | | | (2,001) | | | Net income (loss) | | (12,195) | | | 4,383 | | | (7,812) | | | Net income (loss) attributable to Enviri Corporation | | $ | (13,396) | | | $ | 4,383 | | | $ | (9,013) | | | | | | | | | Amounts attributable to Enviri Corporation common stockholders: | | | | | | | | Income (loss) from continuing operations, net of tax | | $ | (12,229) | | | $ | 4,383 | | | $ | (7,846) | | | Net income (loss) attributable to Enviri Corporation common stockholders | | $ | (13,396) | | | $ | 4,383 | | | $ | (9,013) | | | | | | | | | Basic earnings (loss) per share attributable to Enviri Corporation common stockholders: (a) | | | | | | | | Continuing operations | | $ | (0.15) | | | $ | 0.05 | | | $ | (0.10) | | Basic earnings (loss) per share attributable to Enviri Corporation common stockholders | | $ | (0.17) | | | $ | 0.05 | | | $ | (0.11) | | | | | | | | | Diluted earnings (loss) per share attributable to Enviri Corporation common stockholders: (a) | | | | | | | | Continuing operations | | $ | (0.15) | | | $ | 0.05 | | | $ | (0.10) | | Diluted earnings (loss) per share attributable to Enviri Corporation common stockholders | | $ | (0.17) | | | $ | 0.05 | | | $ | (0.11) | |
(a) Earnings (loss) per share attributable to Enviri Corporation common stockholders is calculated based on actual amounts. As a result, these per share amounts may not total due to rounding.
The impact of revising the Condensed Consolidated Statements of Comprehensive Income (Loss) for the period presented is as follows:
| | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | (In thousands, except per share amounts) | | As Previously Reported | | Revision | | As Revised | | Net income (loss) | | $ | (12,195) | | | $ | 4,383 | | | $ | (7,812) | | | Other comprehensive income (loss): | | | | | | | Foreign currency translation adjustments, net of deferred taxes | | 15,723 | | | (622) | | | 15,101 | | Pension liability adjustment, net of deferred taxes | | (4,206) | | | 18 | | | (4,188) | | | Total other comprehensive income (loss) | | 8,718 | | | (604) | | | 8,114 | | | Total comprehensive income (loss) | | (3,477) | | | 3,779 | | | 302 | | | Comprehensive income (loss) attributable to Enviri Corporation | | $ | (5,045) | | | $ | 3,779 | | | $ | (1,266) | |
The impact of revising the Condensed Consolidated Statements of Cash Flows for the period presented is as follows:
| | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | (In thousands, except per share amounts) | | As Previously Reported | | Revision | | As Revised | Cash flows from operating activities: | | | | | | | | Net income (loss) | | $ | (12,195) | | | $ | 4,383 | | | $ | (7,812) | | | Deferred income tax (benefit) expense | | 2,776 | | | (5,599) | | | (2,823) | | | Changes in assets and liabilities, net of acquisitions and dispositions of businesses: | | | | | | | | Accounts receivable | | (13,501) | | | 377 | | | (13,124) | | | Inventories | | (8,995) | | | 1,017 | | | (7,978) | | | Retirement plan liabilities, net | | 4,488 | | | 168 | | | 4,656 | | | Other assets and liabilities | | 8,034 | | | (346) | | | 7,688 | | | Net cash (used) provided by operating activities | | 6,600 | | | — | | | 6,600 | | | Net cash used by investing activities | | (18,447) | | | — | | | (18,447) | | | Net cash (used) provided by financing activities | | 26,127 | | | — | | | 26,127 | | | Effect of exchange rate changes on cash and cash equivalents, including restricted cash | | (9) | | | — | | | (9) | | Net increase (decrease) in cash and cash equivalents, including restricted cash | | 14,271 | | | — | | | 14,271 | | | Cash and cash equivalents, including restricted cash, at beginning of period | | 90,158 | | | — | | | 90,158 | | | Cash and cash equivalents, including restricted cash, at end of period | | $ | 104,429 | | | $ | — | | | $ | 104,429 | |
The impact of revising the Condensed Consolidated Statements of Equity for all periods presented is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As Previously Reported | | | | Enviri Corporation Stockholders’ Equity | | | | | | | Common Stock | | Additional Paid-in Capital | | Retained Earnings | | Accumulated Other Comprehensive Loss | | Noncontrolling Interests | | | (In thousands, except share amounts) | | Issued | | Treasury | | | | | | Total | Balances, December 31, 2024 | | $ | 146,844 | | | $ | (851,881) | | | $ | 255,102 | | | $ | 1,400,347 | | | $ | (538,964) | | | $ | 38,151 | | | $ | 449,599 | | Net income (loss) | | — | | | — | | | — | | | (13,396) | | | — | | | 1,201 | | | (12,195) | | Total other comprehensive income (loss), net of deferred income taxes of $2,487 | | — | | | — | | | — | | | — | | | 8,351 | | | 367 | | | 8,718 | | Vesting of restricted stock units and other stock grants, net 284,643 shares | | 636 | | | (1,357) | | | (636) | | | — | | | — | | | — | | | (1,357) | | Vesting of performance share units, net 14,860 shares | | 35 | | | (122) | | | (35) | | | — | | | — | | | — | | | (122) | | Amortization of unearned stock-based compensation, net of forfeitures | | — | | | — | | | 4,044 | | | — | | | — | | | — | | | 4,044 | | Balances, March 31, 2025 | | $ | 147,515 | | | $ | (853,360) | | | $ | 258,475 | | | $ | 1,386,951 | | | $ | (530,613) | | | $ | 39,719 | | | $ | 448,687 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Revision | | | | Enviri Corporation Stockholders’ Equity | | | | | | | Common Stock | | Additional Paid-in Capital | | Retained Earnings | | Accumulated Other Comprehensive Loss | | Noncontrolling Interests | | | (In thousands, except share amounts) | | Issued | | Treasury | | | | | | Total | Balances, December 31, 2024 | | $ | — | | | $ | — | | | $ | — | | | $ | (21,512) | | | $ | 1,579 | | | $ | — | | | $ | (19,933) | | Net income (loss) | | — | | | — | | | — | | | 4,383 | | | — | | | — | | | 4,383 | | Total other comprehensive income (loss) | | — | | | — | | | — | | | — | | | (604) | | | — | | | (604) | | Vesting of restricted stock units and other stock grants | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Vesting of performance share units | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Amortization of unearned stock-based compensation, net of forfeitures | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Balances, March 31, 2025 | | $ | — | | | $ | — | | | $ | — | | | $ | (17,129) | | | $ | 975 | | | $ | — | | | $ | (16,154) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As Revised | | | | Enviri Corporation Stockholders’ Equity | | | | | | | Common Stock | | Additional Paid-in Capital | | Retained Earnings | | Accumulated Other Comprehensive Loss | | Noncontrolling Interests | | | (In thousands, except share amounts) | | Issued | | Treasury | | | | | | Total | Balances, December 31, 2024 | | $ | 146,844 | | | $ | (851,881) | | | $ | 255,102 | | | $ | 1,378,835 | | | $ | (537,385) | | | $ | 38,151 | | | $ | 429,666 | | Net income (loss) | | — | | | — | | | — | | | (9,013) | | | — | | | 1,201 | | | (7,812) | | | | | | | | | | | | | | | | | Total other comprehensive income (loss), net of deferred income taxes of $2,487 | | — | | | — | | | — | | | — | | | 7,747 | | | 367 | | | 8,114 | | Vesting of restricted stock units and other stock grants, net 284,643 shares | | 636 | | | (1,357) | | | (636) | | | — | | | — | | | — | | | (1,357) | | Vesting of performance share units, net 14,860 shares | | 35 | | | (122) | | | (35) | | | — | | | — | | | — | | | (122) | | Amortization of unearned stock-based compensation, net of forfeitures | | — | | | — | | | 4,044 | | | — | | | — | | | — | | | 4,044 | | Balances, March 31, 2025 | | $ | 147,515 | | | $ | (853,360) | | | $ | 258,475 | | | $ | 1,369,822 | | | $ | (529,638) | | | $ | 39,719 | | | $ | 432,533 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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