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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Investments:    
Fixed maturities, available-for-sale at fair value $ 1,278,958 $ 1,231,841
Equity securities, available-for-sale at fair value 51,519 49,682
Mortgage loans 16,831 1,252
Policy loans 18,247 18,476
Other invested assets 62,363 53,119
Total investments 1,427,918 1,354,370
Cash and cash equivalents 115,371 158,624
Restricted cash 498 538
Accounts receivable (net of allowance for doubtful accounts of $3,619 and $794 at December 31, 2016 and 2015, respectively) 267,598 210,853
Costs and recognized earnings in excess of billings on uncompleted contracts 15,188 39,310
Inventory 9,648 12,120
Recoverable from reinsurers 524,201 522,562
Accrued investment income 15,948 15,300
Deferred tax asset 1,108 52,511
Property, plant and equipment, net 286,458 214,466
Goodwill 98,086 61,178
Intangibles 39,722 29,409
Other assets 33,024 65,206
Assets held for sale 508 6,065
Total assets 2,835,276 2,742,512
Liabilities, temporary equity and stockholders’ equity    
Life, accident and health reserves 1,648,565 1,591,937
Annuity reserves 251,270 260,853
Value of business acquired 47,613 50,761
Accounts payable and other current liabilities 251,733 225,389
Billings in excess of costs and recognized earnings on uncompleted contracts 43,221 21,201
Deferred tax liability 15,304 4,281
Long-term obligations 428,496 371,876
Pension liability 22,252 25,156
Other liabilities 27,398 17,793
Total liabilities 2,735,852 2,569,247
Commitments and contingencies
Temporary equity:    
Preferred stock, $.001 par value - 20,000,000 shares authorized; Series A - 14,808 and 29,172 shares issued and outstanding at December 31, 2016 and 2015, respectively; Series A-1 - 1,000 and 10,000 shares issued and outstanding at December 31, 2016 and 2015, respectively; Series A-2 - 14,000 shares issued and outstanding at December 31, 2016 and 2015, respectively 29,459 52,619
Redeemable noncontrolling interest 2,526 3,122
Total temporary equity 31,985 55,741
Stockholders’ equity:    
Common stock, $.001 par value - 80,000,000 shares authorized; 42,070,675 and 35,281,375 shares issued and 41,811,288 and 35,249,749 shares outstanding at December 31, 2016 and 2015, respectively 42 35
Additional paid-in capital 241,485 209,477
Treasury stock, at cost - 259,387 and 31,626 shares at December 31, 2016 and 2015, respectively (1,387) (378)
Accumulated deficit (174,278) (79,729)
Accumulated other comprehensive loss (21,647) (35,375)
Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest 44,215 94,030
Noncontrolling interest 23,224 23,494
Total stockholders’ equity 67,439 117,524
Total liabilities, temporary equity and stockholders’ equity $ 2,835,276 $ 2,742,512