|
| | | | | | | | | | | | | | | | | | | | | | |
| Historical Condensed Consolidated | | Pro Forma Adjustments | | Pro Forma Condensed Combined |
| | AAG Acquisition | | FGL Merger Agreement | | Compass Transactions | |
Revenues: | | | | | | | | | | | | |
Net consumer and other product sales | $ | 4,733.1 |
| | $ | 275.8 |
| 2(a) | | $ | — |
|
| | $ | — |
| | | $ | 5,008.9 |
|
Oil and natural gas | 107.4 |
| | — |
|
| | — |
|
| | (40.5 | ) | 4(f) | | 66.9 |
|
Insurance premiums | 59.8 |
| | — |
|
| | (58.4 | ) | 3(b) | | — |
| | | 1.4 |
|
Net investment income | 927.2 |
| | — |
|
| | (845.4 | ) | 3(b) | | — |
| | | 81.8 |
|
Net investment losses | (104.7 | ) | | — |
|
| | (30.2 | ) | 3(b) | | — |
| | | (134.9 | ) |
Insurance and investment product fees and other | 93.1 |
| | — |
|
| | (88.2 | ) | 3(b) | | — |
| | | 4.9 |
|
Total revenues | 5,815.9 |
| | 275.8 |
|
| | (1,022.2 | ) |
| | (40.5 | ) | | | 5,029.0 |
|
Operating costs and expenses: | | | |
| | |
| | | | |
|
Cost of consumer products and other goods sold | 3,050.9 |
| | 154.4 |
| 2(a,b) | | — |
|
| | — |
| | | 3,205.3 |
|
Oil and natural gas direct operating costs | 85.9 |
| | — |
|
| | — |
|
| | (41.0 | ) | 4(f) | | 44.9 |
|
Benefits and other changes in policy reserves | 625.5 |
| | — |
|
| | (578.4 | ) | 3(b) | | — |
| | | 47.1 |
|
Selling, acquisition, operating and general expenses | 1,476.5 |
| | 27.5 |
| (2a,c,e,f,g) | | (113.2 | ) | 3(b) | | (14.1 | ) | 4(f) | | 1,376.7 |
|
Impairments and bad debt expense | 675.3 |
| | 7.0 |
| 2(a) | | (36.9 | ) | 3(b) | | (129.5 | ) | 4(g) | | 515.9 |
|
Amortization of intangibles | 129.6 |
| | 6.5 |
| 2(d) | | (41.8 | ) | 3(b) | | — |
| | | 94.3 |
|
Total operating costs and expenses | 6,043.7 |
| | 195.4 |
|
| | (770.3 | ) |
| | (184.6 | ) | | | 5,284.2 |
|
Operating (loss) income | (227.8 | ) | | 80.4 |
|
| | (251.9 | ) |
| | 144.1 |
| | | (255.2 | ) |
Interest expense | (429.7 | ) | | (61.1 | ) | 2(a,h) | | 18.1 |
| 3(b) | | 4.1 |
| 4(h) | | (468.6 | ) |
Gain on deconsolidation of subsidiary | 38.5 |
| | — |
|
| | — |
|
| | — |
| | | 38.5 |
|
Gain upon gaining control of equity method investment | 141.2 |
| | — |
|
| | — |
|
| | — |
| | | 141.2 |
|
Other income (expense), net | 37.0 |
| | (1.1 | ) | 2(a) | | (6.1 | ) | 3(b) | | (8.5 | ) | 4(i) | | 21.3 |
|
Loss (income) from continuing operations before income taxes | (440.8 | ) | | 18.2 |
|
| | (239.9 | ) |
| | 139.7 |
| | | (522.8 | ) |
Income tax expense (benefit) | 71.6 |
| | (11.6 | ) | 2(a,j) | | (84.1 | ) | 3(b) | | — |
| 4(k) | | (24.1 | ) |
Net (loss) income from continuing operations | (512.4 | ) | | 29.8 |
|
| | (155.8 | ) |
| | 139.7 |
| | | (498.7 | ) |
Income from discontinued operations, net of tax | — |
| | — |
|
| | 155.8 |
| 3(b) | | — |
| | | 155.8 |
|
Net (loss) income | (512.4 | ) | | 29.8 |
|
| | — |
|
| | 139.7 |
| | | (342.9 | ) |
Less: Net income attributable to noncontrolling interest | 44.4 |
| | 12.7 |
| 2(a,i) | | — |
|
| | 0.4 |
| 4(l) | | 57.5 |
|
Net (loss) income attributable to controlling interest | $ | (556.8 | ) | | $ | 17.1 |
|
| | $ | — |
|
| | $ | 139.3 |
|
| | $ | (400.4 | ) |
| | | |
| | |
| | | | | |
Amounts attributable to controlling interest: | | | |
| | |
| | | | | |
Net (loss) income from continuing operations, net of tax | $ | (556.8 | ) | | $ | 17.1 |
|
| | $ | (125.4 | ) | 3(c) | | $ | 139.3 |
| | | $ | (525.8 | ) |
Net income from discontinued operations, net of tax | — |
| | — |
|
| | 125.4 |
| 3(c) | | — |
| | | 125.4 |
|
Net (loss) income attributable to controlling interest | $ | (556.8 | ) | | $ | 17.1 |
|
| | $ | — |
|
| | $ | 139.3 |
| | | $ | (400.4 | ) |
| | | |
| | |
| | | | | |
Net loss per common share attributable to controlling interest: | | | |
| | |
| | | | | |
Basic (loss) income from continuing operations | $ | (2.81 | ) | | $ | 0.09 |
| 2(k) | | $ | (0.63 | ) | 3(d) | | $ | 0.70 |
| 4(m) | | $ | (2.65 | ) |
Basic income from discontinued operations | — |
| | — |
| | | 0.63 |
| 3(d) | | — |
| | | 0.63 |
|
Basic | $ | (2.81 | ) | | $ | 0.09 |
| | | $ | — |
| | | $ | 0.70 |
| | | $ | (2.02 | ) |
| | | | | | | | | | | | |
Diluted (loss) income from continuing operations | $ | (2.81 | ) | | $ | 0.09 |
| 2(k) | | $ | (0.63 | ) | 3(d) | | $ | 0.70 |
| 4(m) | | $ | (2.65 | ) |
Diluted income from discontinued operations | — |
| | — |
| | | 0.63 |
| 3(d) | | — |
| | | 0.63 |
|
Diluted | $ | (2.81 | ) | | $ | 0.09 |
| | | $ | — |
| | | $ | 0.70 |
| | | $ | (2.02 | ) |