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Consolidating Financial Information | 3 Months Ended
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Dec. 31, 2016
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Consolidating Financial Information | following schedules present the Company’s accompanying Condensed Consolidated Balance Sheets information at December 31, 2016 and September 30, 2016, and accompanying Condensed Consolidated Statements of Operations information for the three months ended December 31, 2016 and 2015. These schedules present the individual segments of the Company and their contribution to the Condensed Consolidated Financial Statements. Amounts presented will not necessarily be the same as those in the individual financial statements of the Company’s subsidiaries due to adjustments for purchase accounting, income taxes and noncontrolling interests. In addition, some of the Company’s subsidiaries use a classified balance sheet which also leads to differences in amounts reported for certain line items. The Corporate and Other column primarily reflects the parent company’s investment in its subsidiaries, invested cash portfolio and corporate long term debt, and the results of Salus and HGI Energy. The elimination adjustments are for intercompany assets and liabilities, adjustments to align segment accounting policies with the consolidated basis, interest and dividends, the parent company’s investment in capital stocks of subsidiaries, and various reclasses of debit or credit balances to the amounts in consolidation. Purchase accounting adjustments have been pushed down to the appropriate subsidiary. HRG Group, Inc. - Condensed Consolidating Balance Sheets Information
December 31, 2016 |  | Consumer Products |  | Insurance |  | Corporate and Other |  | Discontinued Operations |  | Eliminations and adjustments |  | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Investments in subsidiaries and affiliates |  | $ | — |  |  | $ | 0.6 |  |  | $ | 2,362.3 |  |  | $ | — |  |  | $ | (2,362.9 | ) |  | $ | — |
Affiliated loans and receivables |  | — |  |  | 20.2 |  |  | 0.2 |  |  | — |  |  | (20.4 | ) |  | — |
Cash and cash equivalents |  | 143.3 |  |  | 35.4 |  |  | 170.1 |  |  | — |  |  | — |  |  | 348.8 |
Funds withheld receivables |  | — |  |  | 1,682.8 |  |  | — |  |  | — |  |  | (73.8 | ) |  | 1,609.0 |
Receivables, net |  | 546.2 |  |  | 9.7 |  |  | 0.4 |  |  | — |  |  | 0.2 |  |  | 556.5 |
Inventories, net |  | 779.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 779.7 |
Deferred tax assets |  | 18.2 |  |  | 12.4 |  |  | — |  |  | — |  |  | 17.8 |  |  | 48.4 |
Property, plant and equipment, net |  | 568.2 |  |  | — |  |  | 0.9 |  |  | — |  |  | — |  |  | 569.1 |
Goodwill |  | 2,464.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,464.5 |
Intangibles, net |  | 2,327.9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,327.9 |
Other assets |  | 106.5 |  |  | 19.3 |  |  | 15.3 |  |  | — |  |  | 16.1 |  |  | 157.2 |
Assets of business held for sale |  | — |  |  | — |  |  | — |  |  | 26,801.6 |  |  | — |  |  | 26,801.6 |
Total assets |  | $ | 6,954.5 |  |  | $ | 1,780.4 |  |  | $ | 2,549.2 |  |  | $ | 26,801.6 |  |  | $ | (2,423.0 | ) |  | $ | 35,662.7 |
Liabilities and Equity: |  |  |  |  |  |  |  |  |  |  |  |
Insurance reserves |  | $ | — |  |  | $ | 1,653.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 68.6 |  |  | $ | 1,721.9 |
Debt |  | 3,656.2 |  |  | — |  |  | 1,746.0 |  |  | — |  |  | 56.8 |  |  | 5,459.0 |
Accounts payable and other current liabilities |  | 825.4 |  |  | 6.6 |  |  | 67.9 |  |  | — |  |  | 0.5 |  |  | 900.4 |
Employee benefit obligations |  | 106.5 |  |  | — |  |  | 5.2 |  |  | — |  |  | — |  |  | 111.7 |
Deferred tax liabilities |  | 563.1 |  |  | — |  |  | 9.9 |  |  | — |  |  | 0.1 |  |  | 573.1 |
Other liabilities |  | 17.9 |  |  | 2.8 |  |  | 6.0 |  |  | — |  |  | — |  |  | 26.7 |
Affiliated debt and payables |  | — |  |  | 0.3 |  |  | 168.4 |  |  | — |  |  | (168.7 | ) |  | — |
Liabilities of business held for sale |  | — |  |  | — |  |  | — |  |  | 25,200.5 |  |  | — |  |  | 25,200.5 |
Total liabilities |  | 5,169.1 |  |  | 1,663.0 |  |  | 2,003.4 |  |  | 25,200.5 |  |  | (42.7 | ) |  | 33,993.3 |
Total stockholders’ equity |  | 1,003.3 |  |  | 117.4 |  |  | 548.1 |  |  | 1,259.6 |  |  | (2,380.3 | ) |  | 548.1 |
Noncontrolling interests |  | 782.1 |  |  | — |  |  | (2.3 | ) |  | 341.5 |  |  | — |  |  | 1,121.3 |
Total permanent equity |  | 1,785.4 |  |  | 117.4 |  |  | 545.8 |  |  | 1,601.1 |  |  | (2,380.3 | ) |  | 1,669.4 |
Total liabilities and equity |  | $ | 6,954.5 |  |  | $ | 1,780.4 |  |  | $ | 2,549.2 |  |  | $ | 26,801.6 |  |  | $ | (2,423.0 | ) |  | $ | 35,662.7 |
September 30, 2016 |  | Consumer Products |  | Insurance |  | Corporate and Other |  | Discontinued Operations |  | Eliminations and adjustments |  | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiaries and affiliates |  | $ | — |  |  | $ | 3.4 |  |  | $ | 2,405.3 |  |  | $ | — |  |  | $ | (2,408.7 | ) |  | $ | — |
Affiliated loans and receivables |  | — |  |  | 20.3 |  |  | 0.2 |  |  | — |  |  | (20.5 | ) |  | — |
Cash and cash equivalents |  | 275.3 |  |  | 32.1 |  |  | 189.9 |  |  | — |  |  | — |  |  | 497.3 |
Funds withheld receivables |  | — |  |  | 1,725.0 |  |  | — |  |  | — |  |  | (74.6 | ) |  | 1,650.4 |
Receivables, net |  | 538.2 |  |  | 17.4 |  |  | 0.7 |  |  | — |  |  | — |  |  | 556.3 |
Inventories, net |  | 740.6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 740.6 |
Deferred tax assets |  | 18.3 |  |  | 8.6 |  |  | — |  |  | — |  |  | 15.7 |  |  | 42.6 |
Property, plant and equipment, net |  | 542.1 |  |  | — |  |  | 1.3 |  |  | — |  |  | — |  |  | 543.4 |
Goodwill |  | 2,478.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,478.4 |
Intangibles, net |  | 2,372.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,372.5 |
Other assets |  | 103.7 |  |  | 18.1 |  |  | 34.6 |  |  | — |  |  | 16.2 |  |  | 172.6 |
Assets of business held for sale |  | — |  |  | — |  |  | — |  |  | 26,738.7 |  |  | — |  |  | 26,738.7 |
Total assets |  | $ | 7,069.1 |  |  | $ | 1,824.9 |  |  | $ | 2,632.0 |  |  | $ | 26,738.7 |  |  | $ | (2,471.9 | ) |  | $ | 35,792.8 |
Liabilities and Equity: |  |  |  |  |  |  |  |  |  |  |  |
Insurance reserves |  | $ | — |  |  | $ | 1,685.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 65.4 |  |  | $ | 1,751.3 |
Debt |  | 3,620.2 |  |  | — |  |  | 1,747.7 |  |  | — |  |  | 63.0 |  |  | 5,430.9 |
Accounts payable and other current liabilities |  | 931.6 |  |  | 6.1 |  |  | 51.6 |  |  | — |  |  | 0.5 |  |  | 989.8 |
Employee benefit obligations |  | 120.2 |  |  | — |  |  | 5.2 |  |  | — |  |  | — |  |  | 125.4 |
Deferred tax liabilities |  | 532.7 |  |  | — |  |  | 13.3 |  |  | — |  |  | — |  |  | 546.0 |
Other liabilities |  | 20.4 |  |  | 3.5 |  |  | 8.3 |  |  | — |  |  | (0.2 | ) |  | 32.0 |
Affiliated debt and payables |  | — |  |  | 0.2 |  |  | 171.2 |  |  | — |  |  | (171.4 | ) |  | — |
Liabilities of business held for sale |  | — |  |  | — |  |  | — |  |  | 25,100.2 |  |  | — |  |  | 25,100.2 |
Total liabilities |  | 5,225.1 |  |  | 1,695.7 |  |  | 1,997.3 |  |  | 25,100.2 |  |  | (42.7 | ) |  | 33,975.6 |
Total stockholders’ equity |  | 1,040.4 |  |  | 129.2 |  |  | 638.1 |  |  | 1,259.6 |  |  | (2,429.2 | ) |  | 638.1 |
Noncontrolling interests |  | 803.6 |  |  | — |  |  | (3.4 | ) |  | 378.9 |  |  | — |  |  | 1,179.1 |
Total permanent equity |  | 1,844.0 |  |  | 129.2 |  |  | 634.7 |  |  | 1,638.5 |  |  | (2,429.2 | ) |  | 1,817.2 |
Total liabilities and equity |  | $ | 7,069.1 |  |  | $ | 1,824.9 |  |  | $ | 2,632.0 |  |  | $ | 26,738.7 |  |  | $ | (2,471.9 | ) |  | $ | 35,792.8 |
HRG Group, Inc. - Condensed Consolidating Statements of Operations Information
Three months ended December 31, 2016 |  | Consumer Products |  | Insurance |  | Corporate and Other |  | Discontinued Operations |  | Eliminations and adjustments |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Net consumer and other product sales |  | $ | 1,211.8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,211.8 |
Net investment income |  | — |  |  | — |  |  | 0.3 |  |  | — |  |  | 10.4 |  |  | 10.7 |
Net investment losses |  | — |  |  | (28.7 | ) |  | — |  |  | — |  |  | (5.1 | ) |  | (33.8 | )
Insurance and investment product fees and other |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.9 |  |  | 0.9 |
Total revenues |  | 1,211.8 |  |  | (28.7 | ) |  | 0.3 |  |  | — |  |  | 6.2 |  |  | 1,189.6 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |
Cost of consumer products and other goods sold |  | 761.8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 761.8 |
Benefits and other changes in policy reserves |  | — |  |  | (15.7 | ) |  | — |  |  | — |  |  | 4.1 |  |  | (11.6 | )
Selling, acquisition, operating and general expenses |  | 299.0 |  |  | 2.4 |  |  | 20.5 |  |  | — |  |  | (0.2 | ) |  | 321.7 |
Total operating costs and expenses |  | 1,060.8 |  |  | (13.3 | ) |  | 20.5 |  |  | — |  |  | 3.9 |  |  | 1,071.9 |
Operating income |  | 151.0 |  |  | (15.4 | ) |  | (20.2 | ) |  | — |  |  | 2.3 |  |  | 117.7 |
Equity in net income of subsidiaries |  | — |  |  | — |  |  | 263.7 |  |  | — |  |  | (263.7 | ) |  | — |
Interest expense |  | (55.8 | ) |  | — |  |  | (35.9 | ) |  | — |  |  | — |  |  | (91.7 | )
Affiliated interest expense |  | — |  |  | — |  |  | (1.7 | ) |  | — |  |  | 1.7 |  |  | — |
Other income (expense), net |  | 1.1 |  |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | 1.4 |
Income from continuing operations before income taxes |  | 96.3 |  |  | (15.4 | ) |  | 206.2 |  |  | — |  |  | (259.7 | ) |  | 27.4 |
Income tax expense (benefit) |  | 31.1 |  |  | (3.8 | ) |  | (6.0 | ) |  | — |  |  | 4.1 |  |  | 25.4 |
Net income from continuing operations |  | 65.2 |  |  | (11.6 | ) |  | 212.2 |  |  | — |  |  | (263.8 | ) |  | 2.0 |
Income (loss) from discontinued operations, net of tax |  | — |  |  | — |  |  | — |  |  | 258.8 |  |  | — |  |  | 258.8 |
Net income |  | 65.2 |  |  | (11.6 | ) |  | 212.2 |  |  | 258.8 |  |  | (263.8 | ) |  | 260.8 |
Less: Net income attributable to noncontrolling interest |  | 27.5 |  |  | — |  |  | — |  |  | 21.1 |  |  | — |  |  | 48.6 |
Net income (loss) attributable to controlling interest |  | $ | 37.7 |  |  | $ | (11.6 | ) |  | $ | 212.2 |  |  | $ | 237.7 |  |  | $ | (263.8 | ) |  | $ | 212.2 |
Three months ended December 31, 2015 |  | Consumer Products |  | Insurance |  | Corporate and Other |  | Discontinued Operations |  | Eliminations and adjustments |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Net consumer and other product sales |  | $ | 1,218.8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,218.8 |
Net investment income |  | — |  |  | 0.9 |  |  | 5.1 |  |  | — |  |  | 14.3 |  |  | 20.3 |
Net investment losses |  | — |  |  | (11.7 | ) |  | — |  |  | — |  |  | (20.3 | ) |  | (32.0 | )
Insurance and investment product fees and other |  | — |  |  | 0.8 |  |  | 0.9 |  |  | — |  |  | 0.6 |  |  | 2.3 |
Total revenues |  | 1,218.8 |  |  | (10.0 | ) |  | 6.0 |  |  | — |  |  | (5.4 | ) |  | 1,209.4 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |
Cost of consumer products and other goods sold |  | 778.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 778.1 |
Benefits and other changes in policy reserves |  | — |  |  | (12.4 | ) |  | — |  |  | — |  |  | 13.2 |  |  | 0.8 |
Selling, acquisition, operating and general expenses |  | 298.2 |  |  | 2.4 |  |  | 29.7 |  |  | — |  |  | 0.4 |  |  | 330.7 |
Total operating costs and expenses |  | 1,076.3 |  |  | (10.0 | ) |  | 29.7 |  |  | — |  |  | 13.6 |  |  | 1,109.6 |
Operating income |  | 142.5 |  |  | — |  |  | (23.7 | ) |  | — |  |  | (19.0 | ) |  | 99.8 |
Equity in net income of subsidiaries |  | — |  |  | — |  |  | 20.6 |  |  | — |  |  | (20.6 | ) |  | — |
Interest expense |  | (58.4 | ) |  | — |  |  | (35.7 | ) |  | — |  |  | (1.1 | ) |  | (95.2 | )
Affiliated interest expense |  | — |  |  | — |  |  | (5.4 | ) |  | — |  |  | 5.4 |  |  | — |
Other income (expense), net |  | (3.5 | ) |  | — |  |  | 3.0 |  |  | — |  |  | (0.2 | ) |  | (0.7 | )
Income from continuing operations before income taxes |  | 80.6 |  |  | — |  |  | (41.2 | ) |  | — |  |  | (35.5 | ) |  | 3.9 |
Income tax expense (benefit) |  | 6.9 |  |  | (1.3 | ) |  | (7.5 | ) |  | — |  |  | (3.7 | ) |  | (5.6 | )
Net income from continuing operations |  | 73.7 |  |  | 1.3 |  |  | (33.7 | ) |  | — |  |  | (31.8 | ) |  | 9.5 |
Income (loss) from discontinued operations, net of tax |  | — |  |  | — |  |  | — |  |  | (2.5 | ) |  | — |  |  | (2.5 | )
Net income |  | 73.7 |  |  | 1.3 |  |  | (33.7 | ) |  | (2.5 | ) |  | (31.8 | ) |  | 7.0 |
Less: Net income attributable to noncontrolling interest |  | 31.1 |  |  | — |  |  | 0.2 |  |  | 9.6 |  |  | — |  |  | 40.9 |
Net income (loss) attributable to controlling interest |  | $ | 42.6 |  |  | $ | 1.3 |  |  | $ | (33.9 | ) |  | $ | (12.1 | ) |  | $ | (31.8 | ) |  | $ | (33.9 | )

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