Acquisitions, Dispositions, and Deconsolidations (Tables)

9 Months Ended

Sep. 30, 2018

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	$	2,212
Property, plant and equipment	73,320
Goodwill	11,783
Other assets	596
Total assets acquired	87,911
Accounts payable and other current liabilities	(676		)
Total liabilities assumed	(676		)
Total net assets acquired	$	87,235

During the year ended December 31, 2017, Broadcasting and its subsidiaries completed the following transactions (in thousands):



	DTV		Mako		Azteca		Other		Total
Cash	$	13,467	$	18,192	$	—	$	12,104	$	43,763
Accounts payable	—		—		33,000		—		33,000
Equity	—		4,994		—		—		4,994
Debt obligations	2,405		5,250		—		—		7,655
Fair value of previously held interest	1,780		—		—		—		1,780
Fair value of consideration	$	17,652	$	28,436	$	33,000	$	12,104	$	91,192

The preliminary allocation of fair value of consideration transferred and its allocation among the identified assets acquired, liabilities assumed and bargain purchase gain are summarized as follows (in thousands):



Preliminary purchase price allocation
Fixed maturity securities, available-for-sale at fair value	$	1,575,428
Equity securities	309
Mortgage loans	940
Policy loans	2,915
Cash and cash equivalents	806,667
Recoverable from reinsurers	901,823
Other assets	27,374
Total assets acquired	3,315,456
Life, accident and health reserves	2,931,270
Annuity reserves	11,303
Value of business acquired	214,401
Accounts payable and other current liabilities	6,022
Deferred tax liability	25,498
Other liabilities	17,840
Total liabilities assumed	3,206,334
Total net assets acquired	109,122
Total fair value of consideration	10
Gain on bargain purchase	$	109,112

The following table summarizes the allocation of the purchase price to the fair value of identifiable assets acquired, liabilities assumed, and intangibles (in thousands):



Purchase price allocation
Property, plant and equipment	$	840
Intangibles	44,231
Other assets	1,442
Total assets acquired	46,513
Total liabilities assumed	—
Enterprise value	46,513
Total net assets acquired	$	46,513

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
Accounts receivable	$	473
Property, plant and equipment	12,730
Goodwill	2,290
Intangibles	1,608
Other assets	909
Total assets acquired	18,010
Accounts payable and other current liabilities	(23		)
Other liabilities	(167		)
Total liabilities assumed	(190		)
Total net assets acquired	$	17,820

The following table summarizes the 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	$	61
Accounts receivable	9,134
Property, plant and equipment	12,097
Goodwill	21,402
Intangibles	80,378
Other assets	1,290
Total assets acquired	124,362
Accounts payable and other current liabilities	(8,036		)
Deferred tax liability	(6,072		)
Debt obligations ⁽¹⁾	(4,480		)
Other liabilities	(86		)
Total liabilities assumed	(18,674		)
Enterprise value	105,688
Less fair value of noncontrolling interest	14,496
Total net assets acquired	$	91,192

⁽¹⁾Debt obligations includes a $2.0 million note with CGI, which is eliminated on the Condensed Consolidated Balance Sheet.

Acquired Intangible Assets

The following table summarizes acquired intangible assets (in thousands):

Business Acquisition, Pro Forma Information

The following schedule presents unaudited consolidated pro forma results of operations data as if the acquisition of Fugro and KMG had occurred on January 1, 2017. This information does not purport to be indicative of the actual results that would have occurred if the 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):



	Three months ended September 30, 2017			Nine Months Ended September 30, 2017
Net revenue	$	453,832		$	1,320,574
Net income (loss) from continuing operations	$	12,390		$	(198	)
Net income (loss) attributable to HC2 Holdings, Inc.	$	(830	)	$	(19,750	)

FCC licenses

Trade name

Total intangibles