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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2016
Business Combinations [Abstract] |
Schedule of Purchase Price Allocation | The fair value of consideration transferred and its allocation among the identified assets acquired, liabilities assumed, intangibles and residual goodwill are summarized as follows (in thousands):
Purchase price allocation |  |
Cash and cash equivalents |  | $ | 621 |
Accounts receivable, net |  | 5,558 |
Costs and recognized earnings in excess of billings on uncompleted contracts |  | 1,686 |
Property, plant and equipment, net |  | 8,043 |
Goodwill |  | 11,827 |
Intangibles |  | 3,955 |
Other assets |  | 1,209 |
Total assets acquired |  | 32,899 |
Accounts payable and other current liabilities |  | (5,924 | )
Billings in excess of costs and recognized earnings on uncompleted contracts |  | (617 | )
Deferred tax liability |  | (169 | )
Other liabilities |  | (685 | )
Total liabilities assumed |  | (7,395 | )
Total net assets acquired |  | $ | 25,504 |
The fair value of consideration transferred and its allocation among the identified assets acquired, liabilities assumed, intangibles and residual goodwill are summarized as follows (in thousands):
Purchase price allocation |  |
Fixed maturities, available for sale at fair value |  | $ | 1,230,038 |
Equity securities, available for sale at fair value |  | 35,697 |
Mortgage loans |  | 1,252 |
Policy loans |  | 18,354 |
Other investments |  | 183 |
Cash and cash equivalents |  | 48,525 |
Recoverable from reinsurers |  | 522,790 |
Accrued investment income |  | 14,417 |
Goodwill |  | 47,290 |
Intangibles |  | 4,850 |
Other assets |  | 12,566 |
Total assets acquired |  | 1,935,962 |
Life, accident and health reserves |  | (1,592,722 | )
Annuity reserves |  | (259,675 | )
Value of business acquired |  | (51,584 | )
Deferred tax liability |  | (1,704 | )
Other liabilities |  | (11,540 | )
Total liabilities assumed |  | (1,917,225 | )
Total net assets acquired |  | $ | 18,737 |
fair value of consideration transferred was allocated among the identified assets acquired, liabilities assumed, intangibles and residual goodwill. For the two transactions accounted for as asset acquisitions the fair value of consideration transferred was allocated based on the relative fair value (in thousands):
Purchase price allocation |  |
Accounts receivable |  | $ | 1,303 |
Property, plant and equipment, net |  | 42,690 |
Goodwill |  | 1,257 |
Intangibles |  | 4,984 |
Other assets |  | 79 |
Total assets acquired |  | 50,313 |
Accounts payable and other current liabilities |  | (856 | )
Deferred tax liability |  | (7,060 | )
Total liabilities assumed |  | (7,916 | )
Bargain purchase gain |  | (340 | )
Total net assets acquired |  | $ | 42,057 |
The following table summarizes the preliminary allocation of the purchase price to the fair value of identifiable assets acquired, liabilities assumed, intangibles and residual goodwill (in thousands):
Purchase price allocation |  |
Cash and cash equivalents |  | $ | 2,963 |
Restricted cash |  | 3 |
Accounts receivable |  | 6,400 |
Inventory |  | 528 |
Property, plant and equipment, net |  | 29,896 |
Goodwill |  | 5,541 |
Intangibles |  | 7,082 |
Other assets |  | 2,051 |
Total assets acquired |  | 54,464 |
Accounts payable and other current liabilities |  | (11,180 | )
Deferred tax liability |  | (2,819 | )
Long-term obligations |  | (20,813 | )
Other liabilities |  | (3 | )
Noncontrolling interest |  | (815 | )
Total liabilities assumed |  | (35,630 | )
Enterprise value |  | 18,834 |
Less fair value of noncontrolling interest |  | 3,889 |
Total net assets acquired |  | $ | 14,945 |
Business Acquisition, Pro Forma Information | The following schedule presents unaudited consolidated pro forma results of operations data as if the acquisition of the Insurance Companies had occurred on January 1, 2015. This information neither purports to be indicative of the actual results that would have occurred if those acquisitions had actually been completed on the date indicated, nor is it necessarily indicative of the future operating results or the financial position of the combined company (in thousands, except per share amounts):
|  | Year Ended December 31, 2015
Net revenue |  | $ | 1,243,173 |
Net income from continuing operations |  | $ | 23,026 |
Net loss attributable to HC2 |  | $ | 23,202 |
Per share amounts: |  |
Loss from continuing operations |  | $ | (0.87 | )
Net loss attributable to HC2 |  | $ | (0.87 | )

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472 + Details
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