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Derivative Financial Instruments Derivative Financial Instruments (Tables) | 12 Months Ended
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Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value of Outstanding Derivative Contracts in Condensed Consolidated Balance Sheets | The fair value of outstanding derivative contracts recorded in the accompanying Consolidated Balance Sheets were as follows:
|  |  |  | September 30,
Asset Derivatives |  | Classification |  | 2014 |  | 2013
Derivatives designated as hedging instruments: |  |  |  |  |  |
Interest rate contracts |  | Other assets |  | $ | 0.6 |  |  | $ | — |
Commodity swap and option agreements |  | Receivables, net |  | 1.3 |  |  | 0.4 |
Foreign exchange contracts |  | Other assets |  | 0.3 |  |  | — |
Foreign exchange contracts |  | Receivables, net |  | 12.0 |  |  | 1.7 |
Total asset derivatives designated as hedging instruments |  |  |  | 14.2 |  |  | 2.1 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Commodity contracts |  | Receivables, net |  | 1.9 |  |  | 3.7 |
Call options |  | Derivatives |  | 296.3 |  |  | 221.8 |
Other embedded derivatives |  | Other invested assets |  | 11.2 |  |  | — |
Foreign exchange contracts |  | Receivables, net |  | 0.5 |  |  | 0.1 |
Total asset derivatives |  |  |  | $ | 324.1 |  |  | $ | 227.7 |
|  |  |  | September 30,
Liability Derivatives |  | Classification |  | 2014 |  | 2013
Derivatives designated as hedging instruments: |  |  |  |  |  |
Interest rate contracts |  | Accounts payable and other current liabilities |  | $ | 1.8 |  |  | $ | — |
Commodity contracts |  | Accounts payable and other current liabilities |  | 0.1 |  |  | 0.5 |
Foreign exchange forward agreements |  | Accounts payable and other current liabilities |  | — |  |  | 4.6 |
Foreign exchange contracts |  | Other liabilities |  | — |  |  | 0.1 |
Total liability derivatives designated as hedging instruments |  |  |  | 1.9 |  |  | 5.2 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Commodity contracts |  | Other liabilities |  | 0.3 |  |  | 1.9 |
FIA embedded derivative |  | Contractholder funds |  | 1,908.1 |  |  | 1,544.4 |
Futures contracts |  | Other liabilities |  | 0.5 |  |  | 1.0 |
Foreign exchange forward contracts |  | Accounts payable and other current liabilities |  | 0.1 |  |  | 5.3 |
Equity conversion feature of preferred stock |  | Equity conversion feature of preferred stock |  | — |  |  | 330.8 |
Total liability derivatives |  |  |  | $ | 1,910.9 |  |  | $ | 1,888.6 |
Pretax Impact of Derivative Instruments Designated as Cash Flow Hedges on Accompanying Condensed Consolidated Statements of Operations, and Within AOCI | The following table summarizes the pretax impact of derivative instruments designated as cash flow hedges on the accompanying Consolidated Statements of Operations, and within AOCI, for Fiscal 2014, 2013 and 2012:
Derivatives in Cash Flow Hedging Relationships |  | Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) |  | Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion) |  | Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) |  | Classification
Fiscal |  | 2014 |  | 2013 |  | 2012 |  | 2014 |  | 2013 |  | 2012 |  | 2014 |  | 2013 |  | 2012 |  |
Interest rate contracts |  | $ | (1.6 | ) |  | $ | — |  |  | $ | — |  |  | $ | (0.9 | ) |  | $ | — |  |  | $ | (0.9 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | Consumer products cost of goods sold
Commodity contracts |  | 1.9 |  |  | (2.6 | ) |  | 1.6 |  |  | 0.7 |  |  | (0.6 | ) |  | (1.1 | ) |  | — |  |  | — |  |  | 0.1 |  | (a) | Interest expense
Foreign exchange contracts |  | 0.1 |  |  | 0.9 |  |  | 0.1 |  |  | 0.2 |  |  | 0.9 |  |  | (0.5 | ) |  | — |  |  | — |  |  | — |  |  | Net consumer products sales
Foreign exchange contracts |  | 12.7 |  |  | (0.3 | ) |  | (3.5 | ) |  | (2.6 | ) |  | 0.6 |  |  | (0.6 | ) |  | — |  |  | — |  |  | — |  |  | Consumer products cost of goods sold
Total |  | $ | 13.1 |  |  | $ | (2.0 | ) |  | $ | (1.8 | ) |  | $ | (2.6 | ) |  | $ | 0.9 |  |  | $ | (3.1 | ) |  | $ | — |  |  | $ | — |  |  | $ | 0.1 |  |  |
(a) | Reclassified from AOCI associated with the prepayment of portions of Spectrum Brands’ senior credit facility (see Note 15, Debt).
Summary of Gain (Loss) Recognized in Income on Derivatives | During Fiscal 2014, 2013 and 2012, the Company recognized the following gains and losses on these derivatives:
Classification |  | Derivatives Not Designated as Hedging Instruments |  | Amounts Recognized in Income on Derivatives
|  |  |  | Fiscal
|  |  |  | 2014 |  | 2013 |  | 2012
Revenues: |  |  |  |  |  |  |  |
Net investment gains |  | Call options |  | $ | 246.0 |  |  | $ | 151.6 |  |  | $ | 100.0 |
|  | Futures contracts |  | 25.5 |  |  | 17.5 |  |  | 46.0 |
|  | Change in fair value of other embedded derivatives |  | (0.1 | ) |  | — |  |  | — |
Net investment income |  | Available-for-sale embedded derivatives |  | — |  |  | — |  |  | 0.4 |
Operating costs and expenses: |  |  |  |  |  |  |  |
Cost of consumer products and other goods sold |  | Commodity contracts |  | $ | (0.1 | ) |  | $ | (0.1 | ) |  | $ | — |
Benefits and other changes in policy reserves |  | FIA embedded derivatives |  | 363.7 |  |  | (6.4 | ) |  | 154.5 |
Other income and expense: |  |  |  |  |  |  |  |
Loss from the change in the fair value of the equity conversion feature of preferred stock |  | Equity conversion feature of preferred stock |  | $ | (12.7 | ) |  | $ | (101.6 | ) |  | $ | (156.6 | )
Other expense, net |  | Oil and natural gas commodity contracts |  | (6.6 | ) |  | (1.3 | ) |  | — |
|  | Foreign exchange contracts |  | 3.1 |  |  | (3.6 | ) |  | 5.9 |
Volumes and Fair Value of Oil and Natural Gas Derivative Financial Instruments | The following table presents the volumes and fair value of Compass’ oil and natural gas derivative financial instruments as of September 30, 2014 (presented on a calendar-year basis):
(in millions, except volumes and prices) |  | Volume Mmmbtus/Mbbls |  | Weighted average strike price per Mmbtu/Bbl |  | September 30, 2014
Natural gas: |  |  |  |  |  |
Swaps: |  |  |  |  |  |
Remainder of 2014 |  | 4,106 |  |  | $ | 4.15 |  |  | $ | 0.2 |
2015 |  | 2,715 |  |  | 3.98 |  |  | (0.1 | )
Total natural gas |  | 6,821 |  |  |  |  | $ | 0.1 |
Oil: |  |  |  |  |  |
Swaps: |  |  |  |  |  |
Remainder of 2014 |  | 68 |  |  | $ | 91.87 |  |  | $ | 0.1 |
2015 |  | 186 |  |  | 94.98 |  |  | 1.4 |
Total oil |  | 254 |  |  |  |  | $ | 1.5 |
Total oil and natural gas derivatives |  |  |  |  |  | $ | 1.6 |
FGL's Exposure to Credit Loss on Call Options Held | Information regarding FGL’s exposure to credit loss on the call options it holds is presented in the following table:
|  |  |  | September 30, 2014 |  | September 30, 2013
Counterparty |  | Credit Rating (Fitch/Moody’s/S&P) (a) |  | Notional Amount |  | Fair Value |  | Collateral |  | Net Credit Risk |  | Notional Amount |  | Fair Value |  | Collateral |  | Net Credit Risk
Merrill Lynch |  | A/*/A |  | $ | 2,239.9 |  |  | $ | 92.7 |  |  | $ | 52.5 |  |  | $ | 40.2 |  |  | $ | 2,037.8 |  |  | $ | 70.7 |  |  | $ | — |  |  | $ | 70.7 |
Deutsche Bank |  | A+/A3/A |  | 2,810.0 |  |  | 108.0 |  |  | 72.5 |  |  | 35.5 |  |  | 1,620.4 |  |  | 51.7 |  |  | 23.0 |  |  | 28.7 |
Morgan Stanley |  | */A3/A |  | 2,294.7 |  |  | 85.0 |  |  | 63.0 |  |  | 22.0 |  |  | 2,264.1 |  |  | 75.7 |  |  | 49.0 |  |  | 26.7 |
Royal Bank of Scotland |  | A-/*/A- |  | — |  |  | — |  |  | — |  |  | — |  |  | 364.3 |  |  | 20.3 |  |  | — |  |  | 20.3 |
Barclay's Bank |  | A/A2/A- |  | 258.0 |  |  | 10.6 |  |  | — |  |  | 10.6 |  |  | 120.8 |  |  | 3.4 |  |  | — |  |  | 3.4 |
|  |  |  | $ | 7,602.6 |  |  | $ | 296.3 |  |  | $ | 188.0 |  |  | $ | 108.3 |  |  | $ | 6,407.4 |  |  | $ | 221.8 |  |  | $ | 72.0 |  |  | $ | 149.8 |

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