Consolidating Financial Information Consolidating Financial Information (Tables)

12 Months Ended

Sep. 30, 2015

Consolidating Financial Information [Abstract]

HRG Group, Inc. - Condensed Consolidating Balance Sheets Information



September 30, 2015	Consumer Products		Insurance			Energy			Asset Management			Corporate and Other		Eliminations			Total
Assets:
Investments	$	—	$	19,112.7		$	—		$	223.9		$	32.8	$	(258.7	)	$	19,110.7
Investments in subsidiaries and affiliates	—		(94.3		)	—			—			2,016.9		(1,922.6		)	—
Affiliated loans and receivables	—		110.8			—			1.2			0.1		(112.1		)	—
Cash and cash equivalents	247.9		521.8			34.2			94.6			298.5		—			1,197.0
Receivables, net	586.6		23.5			19.1			0.7			0.8		2.2			632.9
Inventories, net	780.8		—			—			—			—		—			780.8
Accrued investment income	—		191.2			—			1.3			—		(0.5		)	192.0
Reinsurance recoverable	—		2,351.9			—			—			—		—			2,351.9
Deferred tax assets	48.4		271.3			—			0.1			2.0		(36.8		)	285.0
Properties, including oil and natural gas properties, net	507.1		14.3			288.9			1.2			1.3		—			812.8
Goodwill	2,476.7		—			—			10.7			—		—			2,487.4
Intangibles, including DAC and VOBA, net	2,480.3		1,048.6			—			—			—		—			3,528.9
Other assets	170.2		743.4			2.2			6.2			32.7		—			954.7
Total assets	$	7,298.0	$	24,295.2		$	344.4		$	339.9		$	2,385.1	$	(2,328.5	)	$	32,334.1

Liabilities and Equity:
Insurance reserves	$	—	$	21,931.7		$	—		$	—		$	—	$	—		$	21,931.7
Debt	3,971.0		300.0			327.0			48.3			1,736.4		—			6,382.7
Accounts payable and other current liabilities	993.0		48.7			33.6			7.7			54.2		0.5			1,137.7
Employee benefit obligations	88.1		—			—			—			4.8		—			92.9
Deferred tax liabilities	611.7		—			—			—			1.9		—			613.6
Other liabilities	27.3		509.3			39.1			10.3			1.1		0.3			587.4
Affiliated debt and payables	—		0.9			102.2			313.1			—		(416.2		)	—
Total liabilities	5,691.1		22,790.6			501.9			379.4			1,798.4		(415.4		)	30,746.0
Total stockholders’ equity	900.4		1,211.7			(157.2		)	(41.8		)	586.7		(1,913.1		)	586.7
Noncontrolling interests	706.5		292.9			(0.3		)	2.3			—		—			1,001.4
Total shareholders’ equity	1,606.9		1,504.6			(157.5		)	(39.5		)	586.7		(1,913.1		)	1,588.1
Total liabilities and equity	$	7,298.0	$	24,295.2		$	344.4		$	339.9		$	2,385.1	$	(2,328.5	)	$	32,334.1



September 30, 2014	Consumer Products		Insurance		Energy		Asset Management		Corporate and Other		Eliminations			Total
Assets:
Investments	$	—	$	18,820.7	$	—	$	584.6	$	93.7	$	(246.5	)	$	19,252.5
Investment in subsidiaries and affiliates	—		68.2		—		—		2,237.9		(2,306.1		)	—
Affiliated loans and receivables	—		157.2		—		28.5		—		(185.7		)	—
Cash and cash equivalents	194.6		633.8		14.2		53.5		423.1		—			1,319.2
Receivables, net	515.3		2.1		23.7		0.9		43.1		—			585.1
Inventories, net	624.5		—		—		—		10.7		—			635.2
Accrued investment income	—		181.8		—		3.7		—		(0.6		)	184.9
Reinsurance recoverable	—		2,397.6		—		—		—		—			2,397.6
Deferred tax assets	46.7		139.0		—		—		1.1		(0.1		)	186.7
Properties, including oil and natural gas properties, net	428.9		11.4		464.4		1.4		2.5		—			908.6
Goodwill	1,469.6		—		—		10.7		44.5		—			1,524.8
Intangibles, including DAC and VOBA, net	2,091.5		550.4		—		—		41.8		—			2,683.7
Other assets	141.9		233.6		2.5		9.2		34.7		—			421.9
Total assets	$	5,513.0	$	23,195.8	$	504.8	$	692.5	$	2,933.1	$	(2,739.0	)	$	30,100.2

Liabilities and Equity:
Insurance reserves	$	—	$	20,215.1	$	—	$	—	$	—	$	—		$	20,215.1
Debt	2,990.9		300.0		243.2		298.7		1,325.0		—			5,157.8
Accounts payable and other current liabilities	816.2		71.9		31.3		8.5		104.6		0.5			1,033.0
Employee benefit obligations	81.9		—		—		—		4.3		—			86.2
Deferred tax liabilities	516.0		—		—		—		17.2		0.1			533.3
Other liabilities	21.2		748.9		27.3		19.3		1.1		—			817.8
Affiliated debt and payables	—		7.8		102.3		286.5		34.8		(431.4		)	—
Total liabilities	4,426.2		21,343.7		404.1		613.0		1,487.0		(430.8		)	27,843.2
Total stockholders’ equity	612.4		1,526.9		100.7		68.2		1,441.6		(2,308.2		)	1,441.6
Noncontrolling interests	474.4		325.2		—		11.3		4.5		—			815.4
Total shareholders’ equity	1,086.8		1,852.1		100.7		79.5		1,446.1		(2,308.2		)	2,257.0
Total liabilities and equity	$	5,513.0	$	23,195.8	$	504.8	$	692.5	$	2,933.1	$	(2,739.0	)	$	30,100.2

Schedule of Income Statement Information

HRG Group, Inc. - Condensed Consolidating Statements of Operations Information



Fiscal 2015	Consumer Products			Insurance			Energy			Asset Management			Corporate and Other			Eliminations			Total
Revenues:
Net consumer and other product sales	$	4,690.4		$	—		$	—		$	—		$	42.7		$	—		$	4,733.1
Oil and natural gas	—			—			107.4			—			—			—			107.4
Insurance premiums	—			59.8			—			—			—			—			59.8
Net investment income	—			918.3			—			22.2			—			(13.3		)	927.2
Net investment (losses) gains	—			(235.0		)	—			—			—			130.3			(104.7		)
Insurance and investment product fees and other	—			93.1			—			—			—			—			93.1
Total revenues	4,690.4			836.2			107.4			22.2			42.7			117.0			5,815.9
Operating costs and expenses:
Cost of consumer products and other goods sold	3,020.0			—			—			—			30.9			—			3,050.9
Oil and natural gas direct operating costs	—			—			85.9			—			—			—			85.9
Benefits and other changes in policy reserves	—			625.5			—			—			—			—			625.5
Selling, acquisition, operating and general expenses	1,108.5			125.4			63.0			37.4			142.5			(0.3		)	1,476.5
Impairments and bad debt expense	—			—			485.1			87.9			60.2			42.1			675.3
Amortization of intangibles	87.8			41.8			—			—			—			—			129.6
Total operating costs and expenses	4,216.3			792.7			634.0			125.3			233.6			41.8			6,043.7
Operating (loss) income	474.1			43.5			(526.6		)	(103.1		)	(190.9		)	75.2			(227.8		)
Equity in net (losses) income of subsidiaries	—			(105.1		)	—			—			(343.6		)	448.7			—
Interest expense	(271.9		)	(23.7		)	(9.9		)	—			(124.2		)	—			(429.7		)
Affiliated interest expense	—			—			(9.0		)	(19.2		)	(2.9		)	31.1			—
Gain on deconsolidation of subsidiary	—			—			—			—			38.5			—			38.5
Gain upon gaining control of equity method investment	—			—			141.2			—			—			—			141.2
Other income (expense), net	(8.9		)	—			25.7			(2.1		)	31.9			(9.6		)	37.0
(Loss) income from continuing operations before income taxes	193.3			(85.3		)	(378.6		)	(124.4		)	(591.2		)	545.4			(440.8		)
Income tax expense	43.9			8.4			—			—			(13.3		)	32.6			71.6
Net (loss) income	149.4			(93.7		)	(378.6		)	(124.4		)	(577.9		)	512.8			(512.4		)
Less: Net income (loss) attributable to noncontrolling interest	62.7			23.1			(1.0		)	(19.3		)	(21.1		)	—			44.4
Net loss attributable to controlling interest	$	86.7		$	(116.8	)	$	(377.6	)	$	(105.1	)	$	(556.8	)	$	512.8		$	(556.8	)



Fiscal 2014	Consumer Products			Insurance			Energy			Asset Management			Corporate and Other			Eliminations			Total
Revenues:
Net consumer and other product sales	$	4,429.1		$	—		$	—		$	—		$	20.1		$	—		$	4,449.2
Oil and natural gas	—			—			147.0			—			—			—			147.0
Insurance premiums	—			56.6			—			—			—			—			56.6
Net investment income	—			824.5			—			34.2			—			(16.5		)	842.2
Net investment (losses) gains	—			395.9			—			—			—			(0.6		)	395.3
Insurance and investment product fees and other	—			72.7			—			—			—			—			72.7
Total revenues	4,429.1			1,349.7			147.0			34.2			20.1			(17.1		)	5,963.0
Operating costs and expenses:
Cost of consumer products and other goods sold	2,860.3			—			—			—			15.3			—			2,875.6
Oil and natural gas direct operating costs	—			—			69.6			—			—			—			69.6
Benefits and other changes in policy reserves	—			852.7			—			—			—			—			852.7
Selling, acquisition, operating and general expenses	1,005.2			114.7			50.1			31.2			131.3			—			1,332.5
Impairments and bad debt expense	—			—			81.0			2.3			—			0.6			83.9
Amortization of intangibles	81.7			97.5			—			—			—			—			179.2
Total operating costs and expenses	3,947.2			1,064.9			200.7			33.5			146.6			0.6			5,393.5
Operating (loss) income	481.9			284.8			(53.7		)	0.7			(126.5		)	(17.7		)	569.5
Equity in net (loss) income of subsidiaries	—			(6.0		)	—			—			221.4			(215.4		)	—
Interest expense	(202.1		)	(22.5		)	(7.7		)	—			(89.6		)	—			(321.9		)
Affiliated interest (expense) income	—			—			(9.0		)	(6.0		)	(1.5		)	16.5			—
Loss from the change in the fair value of the equity conversion feature of preferred stock	—			—			—			—			(12.7		)	—			(12.7		)
Other income (expense), net	(6.3		)	—			(6.5		)	(1.2		)	(4.2		)	(3.5		)	(21.7		)
(Loss) income from continuing operations before income taxes	273.5			256.3			(76.9		)	(6.5		)	(13.1		)	(220.1		)	213.2
Income tax expense	59.0			54.0			—			(0.1		)	0.9			(2.3		)	111.5
Net (loss) income	214.5			202.3			(76.9		)	(6.4		)	(14.0		)	(217.8		)	101.7
Less: Net income (loss) attributable to noncontrolling interest	88.9			27.2			—			(0.4		)	(3.7		)	—			112.0
Net loss attributable to controlling interest	125.6			175.1			(76.9		)	(6.0		)	(10.3		)	(217.8		)	(10.3		)
Less: Preferred stock dividends, accretion and loss on conversion	—			—			—			—			73.6			—			73.6
Net loss attributable to common and participating preferred stockholders	$	125.6		$	175.1		$	(76.9	)	$	(6.0	)	$	(83.9	)	$	(217.8	)	$	(83.9	)



Fiscal 2013	Consumer Products			Insurance			Energy			Asset Management			Corporate and Other			Eliminations			Total
Revenues:
Net consumer and other product sales	$	4,085.6		$	—		$	—		$	—		$	—		$	—		$	4,085.6
Oil and natural gas	—			—			90.2			—			—			—			90.2
Insurance premiums	—			58.8			—			—			—			—			58.8
Net investment income	—			715.5			—			28.9			—			(9.7		)	734.7
Net investment (losses) gains	—			511.6			—			—			—			—			511.6
Insurance and investment product fees and other	—			62.5			—			—			—			—			62.5
Total revenues	4,085.6			1,348.4			90.2			28.9			—			(9.7		)	5,543.4
Operating costs and expenses:
Cost of consumer products and other goods sold	2,695.3			—			—			—			—			—			2,695.3
Oil and natural gas direct operating costs	—			—			44.0			—			—			—			44.0
Benefits and other changes in policy reserves	—			531.8			—			—			—			—			531.8
Selling, acquisition, operating and general expenses	961.3			111.4			37.1			15.8			91.0			—			1,216.6
Impairments and bad debt expense	—			—			54.3			2.7			—			1.2			58.2
Amortization of intangibles	77.8			182.3			—			—			—			—			260.1
Total operating costs and expenses	3,734.4			825.5			135.4			18.5			91.0			1.2			4,806.0
Operating (loss) income	351.2			522.9			(45.2		)	10.4			(91.0		)	(10.9		)	737.4
Equity in net income (losses) of subsidiaries	—			—			—			—			266.3			(266.3		)	—
Interest expense	(375.6		)	(11.5		)	(4.7		)	—			(120.1		)	—			(511.9		)
Affiliated interest (expense) income	—			—			(5.6		)	(4.1		)	—			9.7			—
Loss from the change in the fair value of the equity conversion feature of preferred stock	—			—			—			—			(101.6		)	—			(101.6		)
Other income (expense), net	(3.5		)	(0.2		)	(1.3		)	—			(0.6		)	—			(5.6		)
(Loss) income from continuing operations before income taxes	(27.9		)	511.2			(56.8		)	6.3			(47.0		)	(267.5		)	118.3
Income tax expense	27.4			161.0			—			0.1			(1.2		)	—			187.3
Net (loss) income	(55.3		)	350.2			(56.8		)	6.2			(45.8		)	(267.5		)	(69.0		)
Less: Net income (loss) attributable to noncontrolling interest	(23.6		)	—			—			0.4			—			—			(23.2		)
Net loss attributable to controlling interest	(31.7		)	350.2			(56.8		)	5.8			(45.8		)	(267.5		)	(45.8		)
Less: Preferred stock dividends, accretion and loss on conversion	—			—			—			—			48.4			—			48.4
Net loss attributable to common and participating preferred stockholders	$	(31.7	)	$	350.2		$	(56.8	)	$	5.8		$	(94.2	)	$	(267.5	)	$	(94.2	)