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Subsequent Events | 12 Months Ended
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Dec. 31, 2016
Subsequent Events [Abstract] |
Subsequent Events | 26. Subsequent Events ASC 855, “Subsequent Events” (“ASC 855”), establishes general standards of accounting and disclosure of events that occur after the balance sheet date but before financial statements are issued or available to be issued. ASC 855 requires HC2 to evaluate events that occur after the balance date as of which HC2's financial statements are issued, and to determine whether adjustments to or additional disclosures in the financial statements are necessary. HC2 has evaluated subsequent events through the date these financial statements were issued. In January 2017, HC2 issued $55.0 million in aggregate principal amount of 11.0% Notes due 2019. The new notes were issued as additional notes under the 11.0% Notes Indenture, pursuant to which we previously issued $307 million in aggregate principal amount of the existing notes. The new notes constitute part of a single class of securities with the existing 11.0% Notes for all purposes and have the same terms as the existing 11.0% Notes. The net proceeds from these new 11.0% Notes were used to refinance all $35 million in aggregate principal amount of the 11.0% Bridge Note, for working capital and for general corporate purposes (including the financing of potential future acquisitions and investments). As announced on December 29, 2016, DBMG paid a cash dividend of $2.59 per share on January 23, 2017 to stockholders of record at the close of business on January 9, 2017. HC2 received $9.2 million of the total dividend payout. On February 20, 2017, the Company's ICS subsidiary received a notice from Her Majesty’s Revenue and Customs office in the U.K. (the “HMRC”) indicating that it was required to pay certain Value-Added Taxes (“VAT”) in connection with 2015. ICS disagrees with HMRC’s assessment on technical and factual grounds and intends to dispute the assessed liabilities and vigorously defend its interest. We do not believe the assessment to be probable and expect to prevail based on the facts and merits of our existing VAT position. On February 24, 2017, HC2 invested an additional $10.2 million in MediBeacon, which was part of the original $22.4 million staged financing agreement. The investment increases HC2’s ownership to approximately 42% and was the final payment due after the successful completion of the Pilot Two clinical study.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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