XML 77 R63.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Schedule II - Condensed Financial Information of Registrant Schedule II - Condensed Financial Information of Registrant (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2016
Condensed Financial Statements, Captions [Line Items] |
Condensed Financial Statements [Table Text Block] |
| September 30,
| 2017 |  | 2016
ASSETS |  |  |
Cash and cash equivalents | $ | 92.9 |  |  | $ | 170.9 |
Receivables, net | — |  |  | 0.1 |
Total current assets | 92.9 |  |  | 171.0 |
Investments in consolidated subsidiaries (a) | 2,423.9 |  |  | 1,870.1 |
Advances to consolidated subsidiaries | 0.2 |  |  | 9.6 |
Deferred tax assets | — |  |  | 351.2 |
Properties, net | 0.8 |  |  | 1.1 |
Other assets | 0.5 |  |  | 0.6 |
Total assets | $ | 2,518.3 |  |  | $ | 2,403.6 |
LIABILITIES AND EQUITY |  |  |
Accounts payable | $ | 0.8 |  |  | $ | 0.2 |
Accrued and other current liabilities | 36.1 |  |  | 48.2 |
Total current liabilities | 36.9 |  |  | 48.4 |
Long-term debt | 1,718.3 |  |  | 1,711.2 |
Employee benefit obligations | 4.2 |  |  | 5.2 |
Other liabilities | 0.9 |  |  | 0.7 |
Total liabilities | 1,760.3 |  |  | 1,765.5 |
Shareholders’ equity: |  |  |
Common stock | 2.0 |  |  | 2.0 |
Additional paid-in capital | 1,372.9 |  |  | 1,447.1 |
Accumulated deficit | (925.9 | ) |  | (1,031.9 | )
Accumulated other comprehensive income | 309.0 |  |  | 220.9 |
Total shareholders’ equity | 758.0 |  |  | 638.1 |
Total liabilities and equity | $ | 2,518.3 |  |  | $ | 2,403.6 |
(a) Includes $1,536.3 and $1,351.6 at September 30, 2017 and 2016 related to the Company’s investment in the Insurance Operations, which were classified as businesses held for sale. See accompanying Report of Independent Registered Public Accounting Firm. SCHEDULE II (continued) HRG GROUP, INC. (Registrant Only) STATEMENTS OF OPERATIONS (In millions)
|  | Fiscal
|  | 2017 |  | 2016 |  | 2015
Revenues |  | $ | — |  |  | $ | — |  |  | $ | — |
Cost of revenues |  | — |  |  | — |  |  | — |
Gross profit |  | — |  |  | — |  |  | — |
Operating expenses: |  |  |  |  |  |
General and administrative |  | 40.4 |  |  | 50.7 |  |  | 100.2 |
Acquisition related charges |  | — |  |  | 0.2 |  |  | 0.4 |
Total operating expenses |  | 40.4 |  |  | 50.9 |  |  | 100.6 |
Operating loss |  | (40.4 | ) |  | (50.9 | ) |  | (100.6 | )
Other income (expense): |  |  |  |  |  |
Equity in net income (loss) of subsidiaries (a) |  | 497.8 |  |  | (214.8 | ) |  | (357.2 | )
Interest expense |  | (144.1 | ) |  | (143.1 | ) |  | (124.2 | )
Gain on contingent purchase price reduction |  | — |  |  | — |  |  | 8.5 |
Other, net |  | 1.3 |  |  | 2.0 |  |  | 15.2 |
Income (loss) before income taxes |  | 314.6 |  |  | (406.8 | ) |  | (558.3 | )
Income tax expense (benefit) (b) |  | 208.6 |  |  | (208.0 | ) |  | (1.5 | )
Net income (loss) |  | $ | 106.0 |  |  | $ | (198.8 | ) |  | $ | (556.8 | )
(a) Includes $332.5, $(444.1), and $52.8 for Fiscal 2017, 2016 and 2015, respectively, related to the Company’s investments in the Insurance Operations and Compass, which were classified as discontinued operations. (b) Fiscal 2016 includes income tax benefit of $206.2 related to classifying the Company’s ownership interest in FGL as held for sale. Fiscal 2017 includes income tax expense of $205.9 related to the Company’s current intent to exercise the 338 Tax Election related to the FGL Merger which resulted in the reversal of the income tax benefit recorded in Fiscal 2016, as discussed above. See accompanying Report of Independent Registered Public Accounting Firm. SCHEDULE II (continued) HRG GROUP, INC. (Registrant Only) STATEMENTS OF CASH FLOWS (In millions)
|  | Fiscal
|  | 2017 |  | 2016 |  | 2015
Cash flows from operating activities: |  |  |  |  |  |
Net income (loss) |  | $ | 106.0 |  |  | $ | (198.8 | ) |  | $ | (556.8 | )
Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |
Equity in net (loss) income of subsidiaries |  | (497.8 | ) |  | 214.8 |  |  | 357.2 |
Dividends from subsidiaries |  | 118.9 |  |  | 63.5 |  |  | 65.7 |
Depreciation of properties |  | 0.3 |  |  | 0.3 |  |  | 0.5 |
Stock-based compensation |  | 5.2 |  |  | 13.7 |  |  | 25.0 |
Amortization of debt issuance costs |  | 6.1 |  |  | 2.7 |  |  | 4.4 |
Amortization of debt discount |  | 1.0 |  |  | 3.3 |  |  | 1.8 |
Deferred income taxes |  | 205.9 |  |  | (205.8 | ) |  | — |
Gain on contingent purchase price reduction |  | — |  |  | — |  |  | (8.5 | )
Changes in operating assets and liabilities |  | (10.6 | ) |  | (3.6 | ) |  | 29.0 |
Net change in cash due to operating activities |  | (65.0 | ) |  | (109.9 | ) |  | (81.7 | )
Cash flows from investing activities: |  |  |  |  |  |
Capital contributions to consolidated subsidiaries |  | (3.1 | ) |  | (2.9 | ) |  | (406.4 | )
Capital expenditures |  | — |  |  | (0.1 | ) |  | (1.2 | )
Net change in cash due to investing activities |  | (3.1 | ) |  | (3.0 | ) |  | (407.6 | )
Cash flows from financing activities: |  |  |  |  |  |
Proceeds from senior secured notes |  | — |  |  | — |  |  | 409.6 |
Debt issuance costs |  | — |  |  | — |  |  | (6.8 | )
Common stock repurchased |  | — |  |  | — |  |  | (22.1 | )
Share based award tax withholding payments |  | (16.4 | ) |  | (17.8 | ) |  | (18.3 | )
Other financing activities |  | 6.5 |  |  | 4.4 |  |  | 4.1 |
Net change in cash due to financing activities |  | (9.9 | ) |  | (13.4 | ) |  | 366.5 |
Net increase in cash and cash equivalents |  | (78.0 | ) |  | (126.3 | ) |  | (122.8 | )
Cash and cash equivalents at beginning of period |  | 170.9 |  |  | 297.2 |  |  | 420.0 |
Cash and cash equivalents at end of period |  | $ | 92.9 |  |  | $ | 170.9 |  |  | $ | 297.2 |

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_CondensedFinancialStatementsCaptionsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedFinancialStatementsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration