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Consolidating Financial Information | 6 Months Ended
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Mar. 31, 2018
Consolidating Financial Information [Abstract] |
Consolidating Financial Information | The following schedules present the Company’s accompanying Condensed Consolidated Balance Sheets information at March 31, 2018 and September 30, 2017, and accompanying Condensed Consolidated Statements of Operations information for the six months ended March 31, 2018 and 2017. 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. The Corporate and Other and Eliminations column primarily reflects the parent company’s investment in its subsidiaries, invested cash portfolio and corporate debt, and the results of Salus and HGI Energy. Reflected in Corporate and Other and Eliminations is also $70.3 of negative book value of HGI Asset Management Holdings LLC as of March 31, 2018, which is primarily attributable to historical loan losses incurred by Salus. 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. - Consolidating Balance Sheets Information
March 31, 2018 |  | Consumer Products |  | Corporate and Other and Eliminations |  | Total
Assets: |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 135.2 |  |  | $ | 623.6 |  |  | $ | 758.8 |
Trade receivables, net |  | 337.6 |  |  | — |  |  | 337.6 |
Other receivables, net |  | 24.6 |  |  | 37.6 |  |  | 62.2 |
Inventories, net |  | 610.5 |  |  | — |  |  | 610.5 |
Prepaid expenses and other current assets |  | 58.7 |  |  | 1.5 |  |  | 60.2 |
Current assets of businesses held for sale |  | 1,976.0 |  |  | — |  |  | 1,976.0 |
Total current assets |  | 3,142.6 |  |  | 662.7 |  |  | 3,805.3 |
Property, plant and equipment, net |  | 503.9 |  |  | 0.6 |  |  | 504.5 |
Goodwill |  | 2,280.2 |  |  | — |  |  | 2,280.2 |
Intangibles, net |  | 1,589.5 |  |  | — |  |  | 1,589.5 |
Deferred charges and other assets |  | 60.6 |  |  | 0.2 |  |  | 60.8 |
Total assets |  | $ | 7,576.8 |  |  | $ | 663.5 |  |  | $ | 8,240.3 |
Liabilities and Equity: |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |
Current portion of long-term debt |  | $ | 20.3 |  |  | $ | 50.0 |  |  | $ | 70.3 |
Accounts payable |  | 359.6 |  |  | 1.1 |  |  | 360.7 |
Accrued wages and salaries |  | 33.6 |  |  | 7.7 |  |  | 41.3 |
Accrued interest |  | 47.5 |  |  | 15.1 |  |  | 62.6 |
Other current liabilities |  | 119.6 |  |  | 9.4 |  |  | 129.0 |
Current liabilities of businesses held for sale |  | 558.6 |  |  | — |  |  | 558.6 |
Total current liabilities |  | 1,139.2 |  |  | 83.3 |  |  | 1,222.5 |
Long-term debt, net of current portion |  | 4,314.4 |  |  | 934.0 |  |  | 5,248.4 |
Employee benefit obligations |  | 33.1 |  |  | 5.7 |  |  | 38.8 |
Deferred tax liabilities |  | 285.8 |  |  | — |  |  | 285.8 |
Other long-term liabilities |  | 98.8 |  |  | 2.3 |  |  | 101.1 |
Total liabilities |  | 5,871.3 |  |  | 1,025.3 |  |  | 6,896.6 |
Total shareholders’ equity |  | 1,051.7 |  |  | (360.1 | ) |  | 691.6 |
Noncontrolling interests |  | 653.8 |  |  | (1.7 | ) |  | 652.1 |
Total shareholders’ equity |  | 1,705.5 |  |  | (361.8 | ) |  | 1,343.7 |
Total liabilities and equity |  | $ | 7,576.8 |  |  | $ | 663.5 |  |  | $ | 8,240.3 |
September 30, 2017 |  | Consumer Products |  | Corporate and Other and Eliminations |  | Insurance Segment Discontinued Operations |  | Total
Assets: |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 168.2 |  |  | $ | 101.9 |  |  | $ | — |  |  | $ | 270.1 |
Trade receivables, net |  | 266.0 |  |  | — |  |  | — |  |  | 266.0 |
Other receivables, net |  | 19.4 |  |  | 0.3 |  |  | — |  |  | 19.7 |
Inventories, net |  | 496.3 |  |  | — |  |  | — |  |  | 496.3 |
Prepaid expenses and other current assets |  | 54.2 |  |  | 0.6 |  |  | — |  |  | 54.8 |
Current assets of businesses held for sale |  | 603.0 |  |  | — |  |  | 28,326.2 |  |  | 28,929.2 |
Total current assets |  | 1,607.1 |  |  | 102.8 |  |  | 28,326.2 |  |  | 30,036.1 |
Property, plant and equipment, net |  | 503.1 |  |  | 0.8 |  |  | — |  |  | 503.9 |
Goodwill |  | 2,277.1 |  |  | — |  |  | — |  |  | 2,277.1 |
Intangibles, net |  | 1,612.0 |  |  | — |  |  | — |  |  | 1,612.0 |
Deferred charges and other assets |  | 43.5 |  |  | 0.2 |  |  | — |  |  | 43.7 |
Noncurrent assets of businesses held for sale |  | 1,376.9 |  |  | — |  |  | — |  |  | 1,376.9 |
Total assets |  | $ | 7,419.7 |  |  | $ | 103.8 |  |  | $ | 28,326.2 |  |  | $ | 35,849.7 |
Liabilities and Equity: |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 19.4 |  |  | $ | 142.0 |  |  | $ | — |  |  | $ | 161.4 |
Accounts payable |  | 371.6 |  |  | 1.5 |  |  | — |  |  | 373.1 |
Accrued wages and salaries |  | 49.9 |  |  | 5.5 |  |  | — |  |  | 55.4 |
Accrued interest |  | 48.5 |  |  | 29.5 |  |  | — |  |  | 78.0 |
Other current liabilities |  | 123.4 |  |  | 2.4 |  |  | — |  |  | 125.8 |
Current liabilities of businesses held for sale |  | 500.6 |  |  | — |  |  | 26,350.7 |  |  | 26,851.3 |
Total current liabilities |  | 1,113.4 |  |  | 180.9 |  |  | 26,350.7 |  |  | 27,645.0 |
Long-term debt, net of current portion |  | 3,752.3 |  |  | 1,791.4 |  |  | — |  |  | 5,543.7 |
Employee benefit obligations |  | 34.4 |  |  | 4.2 |  |  | — |  |  | 38.6 |
Deferred tax liabilities |  | 493.2 |  |  | — |  |  | — |  |  | 493.2 |
Other long-term liabilities |  | 23.6 |  |  | 2.6 |  |  | — |  |  | 26.2 |
Noncurrent liabilities of businesses held for sale |  | 156.1 |  |  | — |  |  | — |  |  | 156.1 |
Total liabilities |  | 5,573.0 |  |  | 1,979.1 |  |  | 26,350.7 |  |  | 33,902.8 |
Total shareholders’ equity |  | 1,095.4 |  |  | (1,873.7 | ) |  | 1,536.3 |  |  | 758.0 |
Noncontrolling interests |  | 751.3 |  |  | (1.6 | ) |  | 439.2 |  |  | 1,188.9 |
Total shareholders’ equity |  | 1,846.7 |  |  | (1,875.3 | ) |  | 1,975.5 |  |  | 1,946.9 |
Total liabilities and equity |  | $ | 7,419.7 |  |  | $ | 103.8 |  |  | $ | 28,326.2 |  |  | $ | 35,849.7 |
HRG Group, Inc. - Consolidating Statements of Operations Information
Six months ended March 31, 2018 |  | Consumer Products |  | Corporate and Other and eliminations |  | Insurance Segment Discontinued Operations |  | Total
Revenues: |  |  |  |  |  |  |  |
Net sales |  | $ | 1,412.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,412.6 |
Operating costs and expenses: |  |  |  |  |  |  |  |
Cost of goods sold |  | 898.6 |  |  | — |  |  | — |  |  | 898.6 |
Selling, acquisition, operating and general expenses |  | 436.9 |  |  | 21.6 |  |  | — |  |  | 458.5 |
Total operating costs and expenses |  | 1,335.5 |  |  | 21.6 |  |  | — |  |  | 1,357.1 |
Operating income |  | 77.1 |  |  | (21.6 | ) |  | — |  |  | 55.5 |
Interest expense |  | (80.6 | ) |  | (62.5 | ) |  | — |  |  | (143.1 | )
Other income (expense), net |  | (2.7 | ) |  | 3.9 |  |  | — |  |  | 1.2 |
(Loss) income from continuing operations before income taxes |  | (6.2 | ) |  | (80.2 | ) |  | — |  |  | (86.4 | )
Income tax (benefit) expense |  | (127.2 | ) |  | — |  |  | — |  |  | (127.2 | )
Net (loss) income from continuing operations |  | 121.0 |  |  | (80.2 | ) |  | — |  |  | 40.8 |
Income (loss) from discontinued operations, net of tax |  | 41.6 |  |  | — |  |  | 459.9 |  |  | 501.5 |
Net (loss) income |  | 162.6 |  |  | (80.2 | ) |  | 459.9 |  |  | 542.3 |
Less: Net income attributable to noncontrolling interest |  | 66.6 |  |  | — |  |  | 5.4 |  |  | 72.0 |
Net (loss) income attributable to controlling interest |  | $ | 96.0 |  |  | $ | (80.2 | ) |  | $ | 454.5 |  |  | $ | 470.3 |
Six months ended March 31, 2017 |  | Consumer Products |  | Corporate and Other and eliminations |  | Insurance Segment Discontinued Operations |  | Total
Revenues: |  |  |  |  |  |  |  |
Net sales |  | $ | 1,358.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,358.7 |
Net investment income |  | — |  |  | 1.0 |  |  | — |  |  | 1.0 |
Total revenues |  | 1,358.7 |  |  | 1.0 |  |  | — |  |  | 1,359.7 |
Operating costs and expenses: |  |  |  |  |  |  |  |
Cost of goods sold |  | 807.7 |  |  | — |  |  | — |  |  | 807.7 |
Selling, acquisition, operating and general expenses |  | 384.7 |  |  | 30.7 |  |  | — |  |  | 415.4 |
Total operating costs and expenses |  | 1,192.4 |  |  | 30.7 |  |  | — |  |  | 1,223.1 |
Operating income |  | 166.3 |  |  | (29.7 | ) |  | — |  |  | 136.6 |
Interest expense |  | (81.9 | ) |  | (74.5 | ) |  | — |  |  | (156.4 | )
Other income (expense), net |  | (0.9 | ) |  | 0.5 |  |  | — |  |  | (0.4 | )
(Loss) income from continuing operations before income taxes |  | 83.5 |  |  | (103.7 | ) |  | — |  |  | (20.2 | )
Income tax (benefit) expense |  | 31.1 |  |  | (1.5 | ) |  | — |  |  | 29.6 |
Net (loss) income from continuing operations |  | 52.4 |  |  | (102.2 | ) |  | — |  |  | (49.8 | )
Income (loss) from discontinued operations, net of tax |  | 71.5 |  |  | — |  |  | 187.7 |  |  | 259.2 |
Net (loss) income |  | 123.9 |  |  | (102.2 | ) |  | 187.7 |  |  | 209.4 |
Less: Net income attributable to noncontrolling interest |  | 51.9 |  |  | (0.1 | ) |  | 27.5 |  |  | 79.3 |
Net (loss) income attributable to controlling interest |  | $ | 72.0 |  |  | $ | (102.1 | ) |  | $ | 160.2 |  |  | $ | 130.1 |

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