XML 53 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) [Abstract]    
Services revenue $ 73,718us-gaap_SalesRevenueServicesNet $ 43,354us-gaap_SalesRevenueServicesNet
Sales revenue 128,090us-gaap_SalesRevenueGoodsNet 0us-gaap_SalesRevenueGoodsNet
Net revenue 201,808us-gaap_Revenues 43,354us-gaap_Revenues
Operating expenses:    
Cost of revenue - services 61,920us-gaap_CostOfServices 41,107us-gaap_CostOfServices
Cost of revenue - sales 110,536us-gaap_CostOfGoodsSold 0us-gaap_CostOfGoodsSold
Selling, general and administrative 23,053us-gaap_SellingGeneralAndAdministrativeExpense 6,204us-gaap_SellingGeneralAndAdministrativeExpense
Depreciation and amortization 5,006us-gaap_DepreciationAndAmortization 210us-gaap_DepreciationAndAmortization
(Gain) loss on sale or disposal of assets 473us-gaap_GainLossOnSaleOfPropertyPlantEquipment (80)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Total operating expenses 200,988us-gaap_OperatingExpenses 47,441us-gaap_OperatingExpenses
Income/(loss) from operations 820us-gaap_OperatingIncomeLoss (4,087)us-gaap_OperatingIncomeLoss
Interest expense (8,608)us-gaap_InterestExpense (1)us-gaap_InterestExpense
Amortization of debt discount (92)us-gaap_AmortizationOfDebtDiscountPremium 0us-gaap_AmortizationOfDebtDiscountPremium
Interest income and other expense, net 193hchc_InterestIncomeAndOtherExpenseNet (49)hchc_InterestIncomeAndOtherExpenseNet
Foreign currency transaction loss (771)us-gaap_ForeignCurrencyTransactionGainLossBeforeTax (34)us-gaap_ForeignCurrencyTransactionGainLossBeforeTax
Loss from continuing operations before income taxes and loss from equity investees (8,458)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (4,171)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Loss from equity investees (2,688)us-gaap_IncomeLossFromEquityMethodInvestments 0us-gaap_IncomeLossFromEquityMethodInvestments
Income tax benefit (expense) 5,833us-gaap_IncomeTaxExpenseBenefit (9)us-gaap_IncomeTaxExpenseBenefit
Loss from continuing operations (5,313)us-gaap_IncomeLossFromContinuingOperations (4,180)us-gaap_IncomeLossFromContinuingOperations
Gain/(loss) from discontinued operations (9)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 17us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Loss from sale of discontinued operations 0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax (784)us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Net loss (5,322)us-gaap_ProfitLoss (4,947)us-gaap_ProfitLoss
Less: Net loss attributable to noncontrolling interest 261us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 0us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net loss attributable to HC2 Holdings, Inc. (5,061)us-gaap_NetIncomeLoss (4,947)us-gaap_NetIncomeLoss
Less: Preferred stock dividends and accretion 1,088us-gaap_PreferredStockDividendsAndOtherAdjustments 0us-gaap_PreferredStockDividendsAndOtherAdjustments
Net loss attributable to common stock and participating preferred stockholders (6,149)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic (4,947)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Basic loss per common share:    
Loss from continuing operations attributable to HC2 Holdings, Inc. (in dollars per share) $ (0.25)us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ (0.29)us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Loss from discontinued operations (in dollars per share) $ 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
Loss from sale of discontinued operations (in dollars per share) $ 0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicShare $ (0.05)us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicShare
Net income (loss) attributable to HC2 Holdings, Inc. (in dollars per share) $ (0.25)us-gaap_EarningsPerShareBasic $ (0.34)us-gaap_EarningsPerShareBasic
Diluted loss per common share:    
Loss from continuing operations attributable to HC2 Holdings, Inc. (in dollars per share) $ (0.25)us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ (0.29)us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Loss from discontinued operations (in dollars per share) $ 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
Loss from sale of discontinued operations (in dollars per share) $ 0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerDilutedShare $ (0.05)us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerDilutedShare
Net loss attributable to HC2 Holdings, Inc. (in dollars per share) $ (0.25)us-gaap_EarningsPerShareDiluted $ (0.34)us-gaap_EarningsPerShareDiluted
Weighted average common shares outstanding:    
Basic (in shares) 24,146us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 14,631us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted (in shares) 24,146us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 14,631us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Amounts attributable to common shareholders of HC2 Holdings, Inc.    
Loss from continuing operations attributable to HC2 Holdings, Inc. (6,140)us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest (4,180)us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Gain/(loss) from discontinued operations (9)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 17us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Loss from sale of discontinued operations 0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax (784)us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Net loss attributable to common stock and participating preferred stockholders $ (6,149)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ (4,947)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic