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Consolidating Financial Information | 12 Months Ended
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Sep. 30, 2017
Consolidating Financial Information [Abstract] |
Consolidating Financial Information | following schedules present the Company’s accompanying Consolidated Balance Sheets information at September 30, 2017 and 2016, and accompanying Consolidated Statements of Operations information for Fiscal 2017, 2016 and 2015. These schedules present the individual segments of the Company and their contribution to the 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 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, as well as CorAmerica and FOH from their respective acquisition dates through the dates CorAmerica and FOH were deconsolidated. Reflected in Corporate and Other is also $67.4 of negative book value of HGI Asset Management Holdings LLC as of September 30, 2017, 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
September 30, 2017 |  | Consumer Products |  | Corporate and Other |  | Discontinued Operations |  | Eliminations and adjustments |  | Total
Assets: |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |
Investments in subsidiaries and affiliates |  | $ | — |  |  | $ | 2,631.7 |  |  | $ | — |  |  | $ | (2,631.7 | ) |  | $ | — |
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 |  |  | 2,734.5 |  |  | 28,326.2 |  |  | (2,631.7 | ) |  | 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 |  |  | $ | 2,735.5 |  |  | $ | 28,326.2 |  |  | $ | (2,631.7 | ) |  | $ | 35,849.7 |
Liabilities and Equity: |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 19.4 |  |  | $ | 50.0 |  |  | $ | — |  |  | $ | 92.0 |  |  | $ | 161.4 |
Accounts payable |  | 371.6 |  |  | 1.5 |  |  | — |  |  | — |  |  | 373.1 |
Accrued wages and salaries |  | 49.9 |  |  | 5.5 |  |  | — |  |  | — |  |  | 55.4 |
Accrued interest |  | 48.5 |  |  | 28.9 |  |  | — |  |  | 0.6 |  |  | 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 |  |  | 88.3 |  |  | 26,350.7 |  |  | 92.6 |  |  | 27,645.0 |
Long-term debt, net of current portion |  | 3,752.3 |  |  | 1,743.3 |  |  | — |  |  | 48.1 |  |  | 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 |
Affiliated debt and payables |  | — |  |  | 140.7 |  |  | — |  |  | (140.7 | ) |  | — |
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 |  |  | 758.0 |  |  | 1,536.3 |  |  | (2,631.7 | ) |  | 758.0 |
Noncontrolling interests |  | 751.3 |  |  | (1.6 | ) |  | 439.2 |  |  | — |  |  | 1,188.9 |
Total shareholders’ equity |  | 1,846.7 |  |  | 756.4 |  |  | 1,975.5 |  |  | (2,631.7 | ) |  | 1,946.9 |
Total liabilities and equity |  | $ | 7,419.7 |  |  | $ | 2,735.5 |  |  | $ | 28,326.2 |  |  | $ | (2,631.7 | ) |  | $ | 35,849.7 |
September 30, 2016 |  | Consumer Products |  | Corporate and Other |  | Discontinued Operations |  | Eliminations and adjustments |  | Total
Assets: |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |
Investment in subsidiaries and affiliates |  | $ | — |  |  | $ | 2,405.3 |  |  | $ | — |  |  | $ | (2,405.3 | ) |  | $ | — |
Cash and cash equivalents |  | 275.3 |  |  | 189.9 |  |  | — |  |  | — |  |  | 465.2 |
Trade receivables, net |  | 245.6 |  |  | — |  |  | — |  |  | — |  |  | 245.6 |
Other receivables, net |  | 22.9 |  |  | 0.9 |  |  | — |  |  | — |  |  | 23.8 |
Inventories, net |  | 449.9 |  |  | — |  |  | — |  |  | — |  |  | 449.9 |
Prepaid expenses and other current assets |  | 38.2 |  |  | — |  |  | — |  |  | — |  |  | 38.2 |
Current assets of businesses held for sale |  | 601.0 |  |  | — |  |  | — |  |  | — |  |  | 601.0 |
Total current assets |  | 1,632.9 |  |  | 2,596.1 |  |  | — |  |  | (2,405.3 | ) |  | 1,823.7 |
Property, plant and equipment, net |  | 366.1 |  |  | 1.3 |  |  | — |  |  | — |  |  | 367.4 |
Goodwill |  | 2,133.3 |  |  | — |  |  | — |  |  | — |  |  | 2,133.3 |
Intangibles, net |  | 1,534.8 |  |  | — |  |  | — |  |  | — |  |  | 1,534.8 |
Deferred charges and other assets |  | 28.2 |  |  | 34.6 |  |  | — |  |  | — |  |  | 62.8 |
Noncurrent assets of businesses held for sale |  | 1,373.8 |  |  | — |  |  | 26,284.3 |  |  | — |  |  | 27,658.1 |
Total assets |  | $ | 7,069.1 |  |  | $ | 2,632.0 |  |  | $ | 26,284.3 |  |  | $ | (2,405.3 | ) |  | $ | 33,580.1 |
Liabilities and Equity: |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 145.3 |  |  | $ | 94.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 239.3 |
Accounts payable |  | 314.8 |  |  | 1.2 |  |  | — |  |  | — |  |  | 316.0 |
Accrued wages and salaries |  | 79.6 |  |  | 22.2 |  |  | — |  |  | — |  |  | 101.8 |
Accrued interest |  | 39.3 |  |  | 29.0 |  |  | — |  |  | — |  |  | 68.3 |
Other current liabilities |  | 104.5 |  |  | (0.8 | ) |  | — |  |  | — |  |  | 103.7 |
Current liabilities of businesses held for sale |  | 412.1 |  |  | — |  |  | — |  |  | — |  |  | 412.1 |
Total current liabilities |  | 1,095.6 |  |  | 145.6 |  |  | — |  |  | — |  |  | 1,241.2 |
Long-term debt, net of current portion |  | 3,414.7 |  |  | 1,653.7 |  |  | — |  |  | 157.9 |  |  | 5,226.3 |
Employee benefit obligations |  | 42.8 |  |  | 5.2 |  |  | — |  |  | — |  |  | 48.0 |
Deferred tax liabilities |  | 498.8 |  |  | 13.3 |  |  | — |  |  | — |  |  | 512.1 |
Other long-term liabilities |  | 17.7 |  |  | 8.3 |  |  | — |  |  | — |  |  | 26.0 |
Affiliated debt and payables |  | — |  |  | 171.2 |  |  | — |  |  | (171.2 | ) |  | — |
Noncurrent liabilities of businesses held for sale |  | 155.5 |  |  | — |  |  | 24,553.8 |  |  | — |  |  | 24,709.3 |
Total liabilities |  | 5,225.1 |  |  | 1,997.3 |  |  | 24,553.8 |  |  | (13.3 | ) |  | 31,762.9 |
Total shareholders’ equity |  | 1,040.4 |  |  | 638.1 |  |  | 1,351.6 |  |  | (2,392.0 | ) |  | 638.1 |
Noncontrolling interests |  | 803.6 |  |  | (3.4 | ) |  | 378.9 |  |  | — |  |  | 1,179.1 |
Total shareholders’ equity |  | 1,844.0 |  |  | 634.7 |  |  | 1,730.5 |  |  | (2,392.0 | ) |  | 1,817.2 |
Total liabilities and equity |  | $ | 7,069.1 |  |  | $ | 2,632.0 |  |  | $ | 26,284.3 |  |  | $ | (2,405.3 | ) |  | $ | 33,580.1 |
HRG Group, Inc. - Consolidating Statements of Operations Information
Fiscal 2017 |  | Consumer Products |  | Corporate and Other |  | Discontinued Operations |  | Eliminations and adjustments |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 3,009.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,009.5 |
Net investment income |  | — |  |  | 1.1 |  |  | — |  |  | — |  |  | 1.1 |
Total revenues |  | 3,009.5 |  |  | 1.1 |  |  | — |  |  | — |  |  | 3,010.6 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  | 1,833.5 |  |  | — |  |  | — |  |  | — |  |  | 1,833.5 |
Selling, acquisition, operating and general expenses |  | 847.9 |  |  | 46.8 |  |  | — |  |  | (0.6 | ) |  | 894.1 |
Total operating costs and expenses |  | 2,681.4 |  |  | 46.8 |  |  | — |  |  | (0.6 | ) |  | 2,727.6 |
Operating income (loss) |  | 328.1 |  |  | (45.7 | ) |  | — |  |  | 0.6 |  |  | 283.0 |
Equity in net income of subsidiaries |  | — |  |  | 297.1 |  |  | — |  |  | (297.1 | ) |  | — |
Interest expense |  | (160.9 | ) |  | (148.3 | ) |  | — |  |  | (0.7 | ) |  | (309.9 | )
Affiliated interest income |  | — |  |  | 11.4 |  |  | — |  |  | (11.4 | ) |  | — |
Other (expense) income, net |  | (4.9 | ) |  | 0.7 |  |  | — |  |  | — |  |  | (4.2 | )
(Loss) income from continuing operations before income taxes |  | 162.3 |  |  | 115.2 |  |  | — |  |  | (308.6 | ) |  | (31.1 | )
Income tax expense (benefit) |  | 37.3 |  |  | 9.3 |  |  | — |  |  | (8.5 | ) |  | 38.1 |
Net (loss) income from continuing operations |  | 125.0 |  |  | 105.9 |  |  | — |  |  | (300.1 | ) |  | (69.2 | )
Income (loss) from discontinued operations, net of tax |  | 172.1 |  |  | — |  |  | 170.3 |  |  | — |  |  | 342.4 |
Net income (loss) |  | 297.1 |  |  | 105.9 |  |  | 170.3 |  |  | (300.1 | ) |  | 273.2 |
Less: Net income attributable to noncontrolling interest |  | 123.6 |  |  | (0.1 | ) |  | 43.7 |  |  | — |  |  | 167.2 |
Net income (loss) attributable to controlling interest |  | $ | 173.5 |  |  | $ | 106.0 |  |  | $ | 126.6 |  |  | $ | (300.1 | ) |  | $ | 106.0 |
Fiscal 2016 |  | Consumer Products |  | Corporate and Other |  | Discontinued Operations |  | Eliminations and adjustments |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 3,029.4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,029.4 |
Net investment income |  | — |  |  | 8.9 |  |  | — |  |  | — |  |  | 8.9 |
Total revenues |  | 3,029.4 |  |  | 8.9 |  |  | — |  |  | — |  |  | 3,038.3 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  | 1,791.7 |  |  | — |  |  | — |  |  | — |  |  | 1,791.7 |
Selling, acquisition, operating and general expenses |  | 820.0 |  |  | 91.7 |  |  | — |  |  | — |  |  | 911.7 |
Total operating costs and expenses |  | 2,611.7 |  |  | 91.7 |  |  | — |  |  | — |  |  | 2,703.4 |
Operating income (loss) |  | 417.7 |  |  | (82.8 | ) |  | — |  |  | — |  |  | 334.9 |
Equity in net income of subsidiaries |  | — |  |  | 43.0 |  |  | — |  |  | (43.0 | ) |  | — |
Interest expense |  | (182.0 | ) |  | (144.3 | ) |  | — |  |  | (8.2 | ) |  | (334.5 | )
Affiliated interest expense |  | — |  |  | (12.2 | ) |  | — |  |  | 12.2 |  |  | — |
Other (expense) income, net |  | (4.6 | ) |  | 11.1 |  |  | — |  |  | 2.3 |  |  | 8.8 |
(Loss) income from continuing operations before income taxes |  | 231.1 |  |  | (185.2 | ) |  | — |  |  | (36.7 | ) |  | 9.2 |
Income tax expense (benefit) |  | (50.0 | ) |  | 18.9 |  |  | — |  |  | (27.3 | ) |  | (58.4 | )
Net (loss) income from continuing operations |  | 281.1 |  |  | (204.1 | ) |  | — |  |  | (9.4 | ) |  | 67.6 |
Income (loss) from discontinued operations, net of tax |  | 76.6 |  |  | — |  |  | (178.1 | ) |  | — |  |  | (101.5 | )
Net income (loss) |  | 357.7 |  |  | (204.1 | ) |  | (178.1 | ) |  | (9.4 | ) |  | (33.9 | )
Less: Net income attributable to noncontrolling interest |  | 151.1 |  |  | (5.3 | ) |  | 19.1 |  |  | — |  |  | 164.9 |
Net income (loss) attributable to controlling interest |  | $ | 206.6 |  |  | $ | (198.8 | ) |  | $ | (197.2 | ) |  | $ | (9.4 | ) |  | $ | (198.8 | )
Fiscal 2015 |  | Consumer Products |  | Corporate and Other |  | Discontinued Operations |  | Eliminations and adjustments |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 2,598.2 |  |  | $ | 42.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,640.9 |
Net investment income |  | — |  |  | 20.7 |  |  | — |  |  | — |  |  | 20.7 |
Total revenues |  | 2,598.2 |  |  | 63.4 |  |  | — |  |  | — |  |  | 2,661.6 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  | 1,619.7 |  |  | 30.9 |  |  | — |  |  | — |  |  | 1,650.6 |
Selling, acquisition, operating and general expenses |  | 732.3 |  |  | 327.5 |  |  | — |  |  | — |  |  | 1,059.8 |
Total operating costs and expenses |  | 2,352.0 |  |  | 358.4 |  |  | — |  |  | — |  |  | 2,710.4 |
Operating income (loss) |  | 246.2 |  |  | (295.0 | ) |  | — |  |  | — |  |  | (48.8 | )
Equity in net loss of subsidiaries |  | — |  |  | (232.4 | ) |  | — |  |  | 232.4 |  |  | — |
Interest expense |  | (185.8 | ) |  | (125.9 | ) |  | — |  |  | (10.0 | ) |  | (321.7 | )
Affiliated interest expense |  | — |  |  | (29.6 | ) |  | — |  |  | 29.6 |  |  | — |
Gain on deconsolidation of subsidiary |  | — |  |  | 38.5 |  |  | — |  |  | — |  |  | 38.5 |
Other (expense) income, net |  | (4.0 | ) |  | 29.8 |  |  | — |  |  | (10.8 | ) |  | 15.0 |
(Loss) income from continuing operations before income taxes |  | 56.4 |  |  | (614.6 | ) |  | — |  |  | 241.2 |  |  | (317.0 | )
Income tax expense (benefit) |  | 5.6 |  |  | (17.5 | ) |  | — |  |  | 13.2 |  |  | 1.3 |
Net (loss) income from continuing operations |  | 50.8 |  |  | (597.1 | ) |  | — |  |  | 228.0 |  |  | (318.3 | )
Income (loss) from discontinued operations, net of tax |  | 98.6 |  |  | — |  |  | (292.7 | ) |  | — |  |  | (194.1 | )
Net income (loss) |  | 149.4 |  |  | (597.1 | ) |  | (292.7 | ) |  | 228.0 |  |  | (512.4 | )
Less: Net income attributable to noncontrolling interest |  | 62.7 |  |  | (40.3 | ) |  | 22.0 |  |  | — |  |  | 44.4 |
Net income (loss) attributable to controlling interest |  | $ | 86.7 |  |  | $ | (556.8 | ) |  | $ | (314.7 | ) |  | $ | 228.0 |  |  | $ | (556.8 | )

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