|
| | | | | | | | | | | | |
| Historical Condensed Consolidated | | | Pro Forma Condensed Combined |
| | FGL Merger Agreement | |
Revenues: | | | | | | |
Net consumer and other product sales | $ | 4,085.6 |
| | $ | — |
| | | $ | 4,085.6 |
|
Oil and natural gas | 90.2 |
| | — |
| | | 90.2 |
|
Insurance premiums | 58.8 |
| | (58.3 | ) | 3(b) | | 0.5 |
|
Net investment income | 734.7 |
| | (666.1 | ) | 3(b) | | 68.6 |
|
Net investment gains (losses) | 511.6 |
| | (547.7 | ) | 3(b) | | (36.1 | ) |
Insurance and investment product fees and other | 62.5 |
| | (57.5 | ) | 3(b) | | 5.0 |
|
Total revenues | 5,543.4 |
| | (1,329.6 | ) | | | 4,213.8 |
|
Operating costs and expenses: | | | | | | |
Cost of consumer products and other goods sold | 2,695.3 |
| | — |
| | | 2,695.3 |
|
Oil and natural gas direct operating costs | 44.0 |
| | — |
| | | 44.0 |
|
Benefits and other changes in policy reserves | 531.8 |
| | (496.7 | ) | 3(b) | | 35.1 |
|
Selling, acquisition, operating and general expenses | 1,216.6 |
| | (106.7 | ) | 3(b) | | 1,109.9 |
|
Impairments and bad debt expense | 58.2 |
| | (1.2 | ) | 3(b) | | 57.0 |
|
Amortization of intangibles | 260.1 |
| | (229.0 | ) | 3(b) | | 31.1 |
|
Total operating costs and expenses | 4,806.0 |
| | (833.6 | ) | | | 3,972.4 |
|
Operating income (loss) | 737.4 |
| | (496.0 | ) | | | 241.4 |
|
Interest expense | (511.9 | ) | | 2.5 |
| 3(b) | | (509.4 | ) |
Loss from the change in the fair value of the equity conversion feature of preferred stock | (101.6 | ) | | — |
| | | (101.6 | ) |
Other expense, net | (5.6 | ) | | 0.1 |
| 3(b) | | (5.5 | ) |
Income (loss) from continuing operations before income taxes | 118.3 |
| | (493.4 | ) | | | (375.1 | ) |
Income tax expense (benefit) | 187.3 |
| | (157.9 | ) | 3(b) | | 29.4 |
|
Net loss from continuing operations | (69.0 | ) | | (335.5 | ) | | | (404.5 | ) |
Income from discontinued operations, net of tax | — |
| | 335.5 |
| 3(b) | | 335.5 |
|
Net loss | (69.0 | ) | | — |
| | | (69.0 | ) |
Less: Net loss attributable to noncontrolling interest | (23.2 | ) | | — |
| | | (23.2 | ) |
Net loss attributable to controlling interest | (45.8 | ) | | — |
| | | (45.8 | ) |
Less: Preferred stock dividends, accretion and loss on conversion | 48.4 |
| | — |
| | | 48.4 |
|
Net loss attributable to common and participating preferred stockholders | $ | (94.2 | ) | | $ | — |
| | | $ | (94.2 | ) |
| | | | | | |
Amounts attributable to controlling interest: | | | | | | |
Net loss from continuing operations, net of tax | $ | (94.2 | ) | | $ | (335.5 | ) | 3(c) | | $ | (429.7 | ) |
Net income from discontinued operations, net of tax | — |
| | 335.5 |
| 3(c) | | 335.5 |
|
Net loss attributable to controlling interest | $ | (94.2 | ) | | $ | — |
| | | $ | (94.2 | ) |
| | | | | | |
Net loss per common share attributable to controlling interest: | | | | | | |
Basic loss from continuing operations | $ | (0.67 | ) | | $ | (2.40 | ) | 3(d) | | $ | (3.07 | ) |
Basic income from discontinued operations | — |
| | 2.40 |
| 3(d) | | 2.40 |
|
Basic | $ | (0.67 | ) | | $ | — |
| | | $ | (0.67 | ) |
| | | | | | |
Diluted loss from continuing operations | $ | (0.67 | ) | | $ | (2.40 | ) | 3(d) | | $ | (3.07 | ) |
Diluted income from discontinued operations | — |
| | 2.40 |
| 3(d) | | 2.40 |
|
Diluted | $ | (0.67 | ) | | $ | — |
| | | $ | (0.67 | ) |
