Harbinger Group Inc.
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SEC Filings

10-Q
HRG GROUP, INC. filed this Form 10-Q on 02/05/2016
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(15) Segment Data
The Company follows the accounting guidance which establishes standards for reporting information about operating segments in interim and annual financial statements. The Company’s reportable business segments are organized in a manner that reflects how HRG’s management views those business activities. Accordingly, the Company currently operates its business in four reporting segments: (i) Consumer Products, (ii) Insurance, (iii) Energy and (iv) Asset Management. 
The following schedules present the Company’s segment information for the three months ended December 31, 2015 and 2014.
 
 
Three months ended December 31,
 
 
2015
 
2014
Revenues:
 
 
 
 
Consumer Products
 
$
1,218.8

 
$
1,067.8

Insurance
 
(10.0
)
 
34.5

Energy
 
16.8

 
34.3

Asset Management
 
6.0

 
8.0

Intersegment elimination
 
(5.4
)
 
(23.8
)
Consolidated segment revenues
 
1,226.2

 
1,120.8

Corporate and Other
 

 
21.0

Total revenues
 
$
1,226.2

 
$
1,141.8

 
 
 
 
 
Operating income (loss):
 
 
 
 
Consumer Products
 
$
142.5

 
$
115.6

Insurance
 

 
5.6

Energy
 
(64.5
)
 
(195.0
)
Asset Management
 
(9.1
)
 
(1.2
)
Intersegment elimination
 
(19.0
)
 
(16.2
)
Total segment operating income (loss)
 
49.9

 
(91.2
)
Corporate and Other and eliminations
 
(14.6
)
 
(123.8
)
Consolidated operating income (loss)
 
35.3

 
(215.0
)
Interest expense
 
(97.5
)
 
(76.4
)
Gain on sale of oil and gas properties
 
105.6

 

Gain upon gaining control of equity method investment
 

 
141.2

Other income, net
 
1.1

 
32.8

Income (loss) from continuing operations before income taxes
 
44.5

 
(117.4
)
Income tax expense
 
1.9

 
6.0

Net income (loss) from continuing operations
 
42.6

 
(123.4
)
(Loss) income from discontinued operations, net of tax
 
(35.6
)
 
17.0

Net income (loss)
 
7.0

 
(106.4
)
Less: Net income attributable to noncontrolling interest
 
40.9

 
3.4

Net loss attributable to controlling interest
 
$
(33.9
)
 
$
(109.8
)
 
Three months ended December 31,
Net change in cash due to continuing operating activities
2015
 
2014
Consumer Products
$
(223.2
)
 
$
(146.5
)
Insurance
(11.8
)
 
1.0

Energy
(8.5
)
 
4.4

Asset Management
(7.9
)
 
(8.1
)
Intersegment elimination
46.2

 
(37.1
)
Net change in cash due to segment operating activities
(205.2
)
 
(186.3
)
Net change in cash due to corporate and other operating activities
(22.3
)
 
(77.1
)
Consolidated change in cash due to continuing operating activities
$
(227.5
)
 
$
(263.4
)


34

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