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Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results of Operations (Unaudited) | 22. Quarterly Results of Operations (Unaudited) The following is a tabulation of the unaudited quarterly results of operations for the years ended December 31, 2016 and 2015, in reference to the Amendment No. 1 on Form 10-Q/A which amends the Quarterly Report on Form 10-Q of HC2 Holdings, Inc. (the “Company”) for the fiscal quarters ended March 31, 2015, June 30, 2015, and September 30, 2015 as originally filed with the Securities and Exchange Commission (in thousands, except per share amounts):
|  | Quarters Ended
|  | March 31, 2016 |  | June 30, 2016 |  | September 30, 2016 |  | December 31, 2016
Services revenue |  | $ | 182,109 |  |  | $ | 197,372 |  |  | $ | 245,064 |  |  | $ | 272,510 |
Sales revenue |  | 120,497 |  |  | 125,759 |  |  | 133,474 |  |  | 138,884 |
Other revenue |  | 29,138 |  |  | 36,162 |  |  | 34,546 |  |  | 42,611 |
Net revenue |  | 331,744 |  |  | 359,293 |  |  | 413,084 |  |  | 454,005 |
Cost of revenue - services |  | 174,873 |  |  | 183,193 |  |  | 225,876 |  |  | 259,035 |
Cost of revenue - sales |  | 99,677 |  |  | 101,290 |  |  | 107,984 |  |  | 102,113 |
Other operating expenses |  | 76,567 |  |  | 68,832 |  |  | 72,370 |  |  | 87,737 |
Income (loss) from operations |  | (19,373 | ) |  | 5,978 |  |  | 6,854 |  |  | 5,120 |
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.—common holders |  | (31,531 | ) |  | 891 |  |  | (7,506 | ) |  | (67,252 | )
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.—preferred holders |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) - basic |  | $ | (31,531 | ) |  | $ | 891 |  |  | $ | (7,506 | ) |  | $ | (67,252 | )
Net income (loss) - diluted |  | $ | (31,531 | ) |  | $ | 891 |  |  | $ | (7,506 | ) |  | $ | (67,252 | )
Weighted average common shares outstanding-basic |  | 35,262 |  |  | 35,518 |  |  | 36,627 |  |  | 41,570 |
Weighted average common shares outstanding-diluted |  | 35,262 |  |  | 35,643 |  |  | 36,627 |  |  | 41,570 |
Basic income (loss) per common share: |  |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.—common holders |  | $ | (0.89 | ) |  | $ | 0.02 |  |  | $ | (0.20 | ) |  | $ | (1.62 | )
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.—preferred holders |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) attributable to HC2 Holdings, Inc. |  | $ | (0.89 | ) |  | $ | 0.02 |  |  | $ | (0.20 | ) |  | $ | (1.62 | )
Diluted income (loss) per common share: |  |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.—common holders |  | $ | (0.89 | ) |  | $ | 0.02 |  |  | $ | (0.20 | ) |  | $ | (1.62 | )
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.—preferred holders |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) attributable to HC2 Holdings, Inc. |  | $ | (0.89 | ) |  | $ | 0.02 |  |  | $ | (0.20 | ) |  | $ | (1.62 | )
(1) During the second quarter of 2016, the Company identified an immaterial error in its calculation of depreciation expense for the twelve months ended December 31, 2015 and 2014 and the three months ended March 31, 2016 related to purchase accounting associated with the acquisition of DBMG in May 2014. The net impact of adjustments to net income would have been an increase of $0.7 million and a decrease of $0.2 million for the twelve months ended December 31, 2015 and 2014, respectively. Refer to note 2. Summary of Significant Accounting Policies.
|  | Quarters Ended
|  | March 31, 2015 |  | June 30, 2015 |  | September 30, 2015 |  | December 31, 2015
Services revenue |  | $ | 73,718 |  |  | $ | 147,841 |  |  | $ | 151,933 |  |  | $ | 221,788 |
Sales revenue |  | 128,090 |  |  | 133,141 |  |  | 125,534 |  |  | 135,896 |
Other Revenue |  | — |  |  | — |  |  | — |  |  | 2,865 |
Net revenue |  | 201,808 |  |  | 280,982 |  |  | 277,467 |  |  | 360,549 |
Cost of revenue—services |  | 61,920 |  |  | 134,589 |  |  | 138,099 |  |  | 210,047 |
Cost of revenue—sales |  | 110,536 |  |  | 110,909 |  |  | 103,375 |  |  | 113,148 |
Other operating expenses |  | 28,862 |  |  | 32,062 |  |  | 33,349 |  |  | 43,197 |
Income (loss) from operations |  | 490 |  |  | 3,422 |  |  | 2,644 |  |  | (5,843 | )
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.—common holders |  | (6,316 | ) |  | (11,979 | ) |  | (8,998 | ) |  | (12,536 | )
Gain (loss) from discontinued operations |  | (9 | ) |  | (11 | ) |  | (24 | ) |  | 23 |
Net income (loss)—basic |  | $ | (6,325 | ) |  | $ | (11,990 | ) |  | $ | (9,022 | ) |  | $ | (12,513 | )
Net income (loss)—diluted |  | $ | (6,325 | ) |  | $ | (11,990 | ) |  | $ | (9,022 | ) |  | $ | (12,513 | )
Weighted average common shares outstanding-basic |  | 24,146 |  |  | 25,514 |  |  | 25,592 |  |  | 30,588 |
Weighted average common shares outstanding-diluted |  | 24,146 |  |  | 25,514 |  |  | 25,592 |  |  | 30,588 |
Basic income (loss) per common share: |  |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.—common holders |  | $ | (0.26 | ) |  | $ | (0.47 | ) |  | $ | (0.35 | ) |  | $ | (0.41 | )
Gain (loss) from discontinued operations |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) attributable to HC2 Holdings, Inc. |  | $ | (0.26 | ) |  | $ | (0.47 | ) |  | $ | (0.35 | ) |  | $ | (0.41 | )
Diluted income (loss) per common share: |  |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.—common holders |  | $ | (0.26 | ) |  | $ | (0.47 | ) |  | $ | (0.35 | ) |  | $ | (0.41 | )
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.—preferred holders |  | — |  |  | — |  |  | — |  |  | — |
Gain (loss) from discontinued operations |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) attributable to HC2 Holdings, Inc. |  | $ | (0.26 | ) |  | $ | (0.47 | ) |  | $ | (0.35 | ) |  | $ | (0.41 | )
Quarterly and year-to-date computations of per share amounts are made independently; therefore, the sum of per share amounts for the quarters may not agree with per share amounts for the year.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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