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Operating Segment and Related Information (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Summary of Company's Operating Segments

Summary information with respect to the Company’s operating segments is as follows (in millions):

						Three Months Ended March 31,
						2021						2020
Revenue
Infrastructure						$	161.3					$	176.5
Spectrum						10.5						10.1
Total revenue						$	171.8					$	186.6

						Three Months Ended March 31,
						2021						2020
Loss (income) from operations
Infrastructure						$	2.2					$	2.6
Life Sciences						(4.8)						(3.2)
Spectrum						(1.2)						(2.9)
Other						(0.4)						(1.0)
Non-operating Corporate						(6.7)						(9.1)
Total loss from operations						$	(10.9)					$	(13.6)

A reconciliation of the Company's consolidated segment operating income to consolidated earnings before income taxes is as follows (in millions):

						Three Months Ended March 31,
						2021						2020
Loss from operations						$	(10.9)					$	(13.6)
Interest expense						(21.4)						(19.2)
Loss on early extinguishment or restructuring of debt						(10.8)						(5.8)
Loss from equity investees						(2.1)						(2.5)
Other income						3.4						1.5
Loss from continuing operations before income taxes						(41.8)						(39.6)
Income tax (expense) benefit						(1.1)						9.7
Loss from continuing operations						(42.9)						(29.9)
Income (loss) from discontinued operations (including gain on disposal of $40.4 million and loss on disposal of $39.3 million for the three months ended March 31, 2021 and 2020, respectively)						51.9						(71.1)
Net income (loss)						9.0						(101.0)
Net income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest						3.6						17.9
Net income (loss) attributable to HC2 Holdings, Inc.						12.6						(83.1)
Less: Preferred dividends and deemed dividends from conversions						0.4						0.4
Net income (loss) attributable to common stock and participating preferred stockholders						$	12.2					$	(83.5)

						Three Months Ended March 31,
						2021						2020
Depreciation and Amortization
Infrastructure						$	2.4					$	2.6
Spectrum						1.5						1.7
Total						$	3.9					$	4.3

						Three Months Ended March 31,
						2021						2020
Capital Expenditures (*)
Infrastructure						$	1.6					$	2.3
Life Sciences						0.2						—
Spectrum						1.4						2.7
Non-operating Corporate						—						—
Total						$	3.2					$	5.0

(*) The above capital expenditures exclude assets acquired under terms of capital lease and vendor financing obligations.

Segment Reporting for Long-term investments, Property and Equipment - Net and Assets

						March 31, 2021						December 31, 2020
Investments
Infrastructure						$	0.9					$	0.9
Life Sciences						16.9						18.4
Other						34.9						36.1
Total						$	52.7					$	55.4

						March 31, 2021						December 31, 2020
Total Assets
Infrastructure						$	503.1					$	494.8
Life Sciences						26.0						21.4
Spectrum						209.7						213.6
Insurance						5,627.0						5,854.0
Other						38.8						167.3
Non-operating Corporate						41.4						30.1
Eliminations						(40.0)						(38.4)
Total						$	6,406.0					$	6,742.8

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- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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