HRG GROUP, INC. UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
| | | | | | | | | | | | | | (As of September 30, 2015, in millions) | Historical Condensed Consolidated | | Pro Forma Adjustments | | | Pro Forma Condensed Consolidated | ASSETS | | | | | | | Investments: | | | | | | | Fixed maturities | $ | 17,514.8 |
| | $ | — |
| | | $ | 17,514.8 |
| Equity securities | 649.4 |
| | — |
| | | 649.4 |
| Derivatives | 81.9 |
| | — |
| | | 81.9 |
| Asset-based loans | 335.8 |
| | — |
| | | 335.8 |
| Commercial mortgage loans | 489.2 |
| | — |
| | | 489.2 |
| Other invested assets | 39.6 |
| | — |
| | | 39.6 |
| Total investments | 19,110.7 |
| | — |
| | | 19,110.7 |
| Cash and cash equivalents | 1,197.0 |
| | (1.4 | ) | (a) | | 1,195.6 |
| Receivables, net | 632.9 |
| | — |
| | | 632.9 |
| Inventories, net | 780.8 |
| | — |
| | | 780.8 |
| Accrued investment income | 192.0 |
| | — |
| | | 192.0 |
| Reinsurance recoverable | 2,351.9 |
| | — |
| | | 2,351.9 |
| Deferred tax assets | 285.0 |
| | — |
| | | 285.0 |
| Properties, including oil and natural gas properties, net | 812.8 |
| | (72.0 | ) | (b) | | 740.8 |
| Goodwill | 2,487.4 |
| | — |
| | | 2,487.4 |
| Intangibles, including DAC and VOBA, net | 3,528.9 |
| | — |
| | | 3,528.9 |
| Other assets | 954.7 |
| | — |
|
| | 954.7 |
| Total assets | $ | 32,334.1 |
| | $ | (73.4 | ) | | | $ | 32,260.7 |
| | | | | | | — |
| LIABILITIES AND EQUITY | | | | | | — |
| Insurance reserves: | | | | | | — |
| Contractholder funds | $ | 17,769.8 |
| | $ | — |
| | | $ | 17,769.8 |
| Future policy benefits | 4,096.8 |
| | — |
| | | 4,096.8 |
| Liability for policy and contract claims | 55.3 |
| | — |
| | | 55.3 |
| Funds withheld from reinsurers | 9.8 |
| | — |
| | | 9.8 |
| Total insurance reserves | 21,931.7 |
| | — |
| | | 21,931.7 |
| Debt | 6,382.7 |
| | (147.0 | ) | (c) | | 6,235.7 |
| Accounts payable and other current liabilities | 1,137.7 |
| | (5.4 | ) | (d) | | 1,132.3 |
| Employee benefit obligations | 92.9 |
| | — |
| | | 92.9 |
| Deferred tax liabilities | 613.6 |
| | — |
| | | 613.6 |
| Other liabilities | 587.4 |
| | (18.0 | ) | (e) | | 569.4 |
| Total liabilities | 30,746.0 |
| | (170.4 | ) | | | 30,575.6 |
| | | | | | | — |
| Commitments and contingencies | | | | | | — |
| | | | | | | — |
| HRG Group, Inc. shareholders' equity: | | | | | | — |
| Common stock, $0.01 par; 500,000.0 thousand shares authorized; 201,383.8 thousand shares issued and outstanding at September 30, 2015. | 2.0 |
| | — |
| | | 2.0 |
| Additional paid-in capital | 1,458.5 |
| | — |
| | | 1,458.5 |
| Accumulated deficit | (833.1 | ) | | 96.5 |
| (j) | | (736.6 | ) | Accumulated other comprehensive (loss) income | (40.7 | ) | | — |
| | | (40.7 | ) | Total HRG Group, Inc. shareholders' equity | 586.7 |
| | 96.5 |
| | | 683.2 |
| Noncontrolling interest | 1,001.4 |
| | 0.5 |
| (l) | | 1,001.9 |
| Total shareholders’ equity | 1,588.1 |
| | 97.0 |
| | | 1,685.1 |
| Total liabilities and equity | $ | 32,334.1 |
| | $ | (73.4 | ) | | | $ | 32,260.7 |
|
See accompanying notes to unaudited pro forma condensed consolidated financial statements.
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