Divestitures (Tables)

12 Months Ended

Sep. 30, 2018


(in millions)	2018		2017
Assets
Trade receivables, net	$	217.5	$	260.1
Other receivables		37.9		24.0
Inventories		280.8		279.2
Prepaid expenses and other current assets		34.3		39.7
Property, plant and equipment, net		223.8		196.8
Deferred charges and other		20.7		19.3
Goodwill		344.7		348.9
Intangible assets, net		798.5		811.9
Total assets of business held for sale	$	1,958.2	$	1,979.9
Liabilities
Current portion of long-term debt		12.4		17.3
Accounts payable		323.3		355.9
Accrued wages and salaries		37.7		37.6
Other current liabilities		129.9		89.8
Long-term debt, net of current portion		49.6		51.7
Deferred income taxes		41.1		38.2
Other long-term liabilities		62.9		66.2
Total liabilities of business held for sale	$	656.9	$	656.7



(in millions)	2018		2017		2016
Net sales	$	1,981.0	$	1,997.9	$	2,010.3
Cost of goods sold		1,307.1		1,299.2		1,328.0
Gross profit		673.9		698.7		682.3
Operating expenses		505.0		465.5		443.8
Operating income		168.9		233.2		238.5
Interest expense		55.0		50.2		68.0
Other non-operating expense, net		3.5		0.8		3.9
Income from discontinued operations before income taxes		110.4		182.2		166.6
Income tax expense		11.8		10.1		90.0
Net income from discontinued operations		98.6		172.1		76.6
Net income (loss) from discontinued operations attributable to non-controlling interest		0.3		1.3		(0.5)
Net income from discontinued operations attributable to controlling interest	$	98.3	$	170.8	$	77.1


(in millions)	September 30, 2017
Assets
Investments, including loans and receivables from affiliates	$	23,211.1
Funds withheld receivables		742.7
Cash and cash equivalents		914.5
Accrued investment income		231.3
Reinsurance recoverable		2,358.8
Deferred acquisition costs and value of business acquired, net		1,163.6
Other assets		125.4
Write-down of assets of businesses held for sale to fair value less cost to sell		(421.2)
Total assets of business held for sale	$	28,326.2
Liabilities
Insurance reserves		24,989.6
Debt		405.0
Accounts payable and other current liabilities		56.2
Deferred tax liabilities		68.0
Other long-term liabilities		831.9
Total liabilities of business held for sale	$	26,350.7


(in millions)	2018		2017		2016
Revenues:
Insurance premiums	$	6.8	$	43.9	$	72.5
Net investment income		181.9		1,050.7		985.9
Net investment gains		154.8		377.4		131.6
Other		35.1		169.5		130.5
Total revenues		378.6		1,641.5		1,320.5
Operating costs and expenses:
Benefits and other changes in policy reserves		241.3		925.9		893.9
Selling, acquisition, operating and general expenses		52.8		148.2		127.9
Amortization of intangibles		35.8		197.5		78.6
Total operating costs and expenses		329.9		1,271.6		1,100.4
Operating income		48.7		369.9		220.1
Interest expense and other		4.0		24.4		22.0
(Write-down) write-up of assets of business held for sale to fair value less cost to sell		(14.2)		(58.4)		(362.8)
Reclassification of accumulated other comprehensive income		445.9		—		—
Income from discontinued operations before income taxes		476.4		287.1		(164.7)
Income tax expense		7.4		116.8		54.2
Net income from discontinued operations		469.0		170.3		(218.9)
Net income from discontinued operations attributable to non-controlling interest		5.4		43.7		19.0
Net income from discontinued operations attributable to controlling interest	$	463.6	$	126.6	$	(237.9)


(in millions)	2016
Revenues:
Oil and natural gas revenues	$	40.2
Operating costs and expenses:
Oil and natural gas direct operating costs		38.2
Selling, acquisitions, operating and general expenses		22.8
Impairment and bad debt expense		93.2
Total operating costs and expenses		154.2
Operating loss		(114.0)
Interest expense		5.9
Gain upon gaining control of equity method investment		—
Gain on sale of oil and gas properties		105.6
Other income, net		1.5
Gain on disposal		53.6
Net income		40.8
Less: net income (loss) attributable to noncontrolling interest		(0.1)
Net income attributable to common and participating preferred stockholders	$	40.7