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Divestitures Divestitures (Tables) | 12 Months Ended
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Sep. 30, 2017
Divestitures [Abstract] |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | The following table summarizes the components of “Income (loss) from discontinued operations, net of tax” in the accompanying Consolidated Statements of Operations for Fiscal 2017, 2016 and 2015:
|  | Fiscal
|  | 2017 |  | 2016 |  | 2015
Income (loss) from discontinued operations, net of tax attributable to Insurance Operations |  | $ | 170.3 |  |  | $ | (218.9 | ) |  | $ | 75.9 |
Income (loss) from discontinued operations, net of tax attributable to Compass Production Partners, LP (“Compass”) |  | — |  |  | 40.8 |  |  | (368.6 | )
Income (loss) from discontinued operations, net of tax |  | $ | 170.3 |  |  | $ | (178.1 | ) |  | $ | (292.7 | )
Insurance Operations As previously discussed in Note 1, Basis of Presentation and Nature of Operations, the Insurance Operations were classified as held for sale in the accompanying Consolidated Balance Sheets and as discontinued operations in the accompanying Consolidated Statements of Operations. The following table summarizes the major categories of assets and liabilities of the Insurance Operations classified as held for sale in the accompanying Consolidated Balance Sheets at September 30, 2017 and 2016:
| September 30, 2017 |  | September 30, 2016
Assets |  |  |
Investments, including loans and receivables from affiliates | $ | 23,211.1 |  |  | $ | 21,160.6 |
Funds withheld receivables | 742.7 |  |  | 671.6 |
Cash and cash equivalents | 914.5 |  |  | 896.0 |
Accrued investment income | 231.3 |  |  | 213.7 |
Reinsurance recoverable | 2,358.8 |  |  | 2,344.4 |
Deferred acquisition costs and value of business acquired, net | 1,163.6 |  |  | 1,065.5 |
Other assets | 125.4 |  |  | 295.3 |
Write-down of assets of businesses held for sale to fair value less cost to sell | (421.2 | ) |  | (362.8 | )
Total assets of businesses held for sale | $ | 28,326.2 |  |  | $ | 26,284.3 |
Liabilities |  |  |
Insurance reserves | $ | 24,989.6 |  |  | $ | 23,404.6 |
Debt | 405.0 |  |  | 398.8 |
Accounts payable and other current liabilities | 56.2 |  |  | 63.1 |
Deferred tax liabilities | 68.0 |  |  | 9.9 |
Other liabilities | 831.9 |  |  | 677.4 |
Total liabilities of businesses held for sale | $ | 26,350.7 |  |  | $ | 24,553.8 |
In accordance with ASC 360, Property, Plant and Equipment, long-lived assets classified as held for sale are measured at the lower of their carrying value or fair value less cost to sell at the balance sheet date. At September 30, 2017, the carrying value of the Company’s interest in FGL was $402.2 higher than FGL’s estimated fair value less cost to sell of $1,471.3. As a result, during Fiscal 2017, the Company recorded a $39.4 write-down of assets of business held for sale, which was in addition to the $362.8 write-down previously recorded at September 30, 2016. At September 30, 2017, the carrying value of the Company’s interest in Front Street was $19.0 higher than Front Street’s estimated fair value less cost to sell of $65.0. As a result, during Fiscal 2017, the Company recorded a $19.0 write-down of assets of Front Street’s business held for sale. The following table summarizes the components of “Net income (loss) from discontinued operations” in the accompanying Consolidated Statements of Operations for Fiscal 2017, 2016 and 2015:
|  | Fiscal
|  | 2017 |  | 2016 |  | 2015
Revenues: |  |  |  |  |  |
Insurance premiums |  | $ | 43.9 |  |  | $ | 72.5 |  |  | $ | 59.9 |
Net investment income |  | 1,050.7 |  |  | 985.9 |  |  | 923.0 |
Net investment gains (losses) |  | 377.4 |  |  | 131.6 |  |  | (128.8 | )
Insurance and investment product fees and other |  | 169.5 |  |  | 130.5 |  |  | 93.1 |
Total revenues |  | 1,641.5 |  |  | 1,320.5 |  |  | 947.2 |
Operating costs and expenses: |  |  |  |  |  |
Benefits and other changes in policy reserves |  | 925.9 |  |  | 893.9 |  |  | 649.0 |
Selling, acquisition, operating and general expenses |  | 148.2 |  |  | 127.9 |  |  | 124.9 |
Amortization of intangibles |  | 197.5 |  |  | 78.6 |  |  | 41.8 |
Total operating costs and expenses |  | 1,271.6 |  |  | 1,100.4 |  |  | 815.7 |
Operating income |  | 369.9 |  |  | 220.1 |  |  | 131.5 |
Interest expense |  | (24.4 | ) |  | (22.0 | ) |  | (23.6 | )
Write-down of assets of businesses held for sale to fair value less cost to sell |  | (58.4 | ) |  | (362.8 | ) |  | — |
Net income (loss) before income taxes |  | 287.1 |  |  | (164.7 | ) |  | 107.9 |
Income tax expense (a) |  | 116.8 |  |  | 54.2 |  |  | 32.0 |
Net income (loss) |  | 170.3 |  |  | (218.9 | ) |  | 75.9 |
Less: net income attributable to noncontrolling interest |  | 43.7 |  |  | 19.0 |  |  | 23.1 |
Net income (loss) - attributable to controlling interest |  | $ | 126.6 |  |  | $ | (237.9 | ) |  | $ | 52.8 |
(a) Included in the income tax expense for Fiscal 2016 was a $15.2 of income tax expense primarily related to the establishment of a deferred tax liability of $367.9 at September 30, 2016, which was a result of classifying the Company’s ownership interest in FGL as held for sale following the Anbang/FGL Merger Agreement, partially offset by the recognition of a $94.7 deferred tax asset related to realized capital losses primarily from the Compass Sale and $258.0 reduction of valuation allowances on HRG’s net operating and capital loss carryforwards expected to offset the FGL taxable gain at September 30, 2016. The remaining liability is expected to be offset by losses recognized in continuing operations except for $15.2 of estimated alternative minimum taxes. Based on the Company’s current intent to exercise the 338 Tax Election related to the FGL Merger, the Company reversed the previously recorded deferred tax liability and deferred tax asset valuation allowance reduction, which resulted in the recognition of a $15.2 income tax benefit in Fiscal 2017. Compass On July 1, 2016, HGI Energy entered into an agreement to sell its equity interests in Compass to a third party (such agreement, the “Compass Sale Agreement”). During Fiscal 2016, the transactions contemplated by the Compass Sale Agreement were consummated. This sale represented the disposal of all of the Company’s oil and gas properties, which were accounted for using the full-cost method prior to their disposal. The Company has determined that the completion of HGI Energy’s sale of its equity interests in Compass to a third party represented a strategic shift for the Company and, accordingly, has presented the results of operations for Compass as discontinued operations in the accompanying Consolidated Statements of Operations. The following table summarizes the components of “Net income (loss) from discontinued operations” attributable to Compass in the accompanying Consolidated Statements of Operations for Fiscal 2016 and 2015.
|  | Fiscal
|  | 2016 |  | 2015
Revenues: |  |  |  |
Oil and natural gas revenues |  | $ | 40.2 |  |  | $ | 107.4 |
Operating costs and expenses: |  |  |  |
Oil and natural gas direct operating costs |  | 38.2 |  |  | 85.9 |
Selling, acquisition, operating and general expenses |  | 22.8 |  |  | 62.0 |
Impairments and bad debt expense |  | 93.2 |  |  | 485.1 |
Total operating costs and expenses |  | 154.2 |  |  | 633.0 |
Operating loss |  | (114.0 | ) |  | (525.6 | )
Interest expense |  | (5.9 | ) |  | (9.9 | )
Gain upon gaining control of equity method investment |  | — |  |  | 141.2 |
Gain on sale of oil and gas properties |  | 105.6 |  |  | — |
Other income, net |  | 1.5 |  |  | 25.7 |
Gain on disposal |  | 53.6 |  |  | — |
Net income (loss) |  | 40.8 |  |  | (368.6 | )
Less: net income (loss) attributable to noncontrolling interest |  | 0.1 |  |  | (1.1 | )
Net income (loss) attributable to common and participating preferred stockholders |  | $ | 40.7 |  |  | $ | (367.5 | )

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 + Details
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