Harbinger Group Inc.
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SEC Filings

S-3ASR
HRG GROUP, INC. filed this Form S-3ASR on 02/04/2016
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HRG GROUP, INC.
UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET
As of September 30, 2015, in millions, except per share and share amounts
 
Historical Condensed Consolidated
 
Pro Forma Adjustments
 
Pro Forma Condensed Combined
 
 
FGL Merger Agreement
 
 
Compass Transactions
 
 
ASSETS
 
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
 
Fixed maturities
$
17,514.8

 
$
(17,500.6
)
3(a)
 
$

 
 
$
14.2

Equity securities
649.4

 
(616.6
)
3(a)
 

 
 
32.8

Derivatives
81.9

 
(81.9
)
3(a)
 

 
 

Asset-based loans
335.8

 
(109.2
)
3(a)
 

 
 
226.6

Commercial mortgage loans
489.2

 
(489.2
)
3(a)
 

 
 

Other invested assets
39.6

 
(34.2
)
3(a)
 

 
 
5.4

Total investments
19,110.7

 
(18,831.7
)
3(a)
 

 
 
279.0

Cash and cash equivalents
1,197.0

 
(501.8
)
3(a)
 
2.8

4(a)
 
698.0

Receivables, net
632.9

 


 

 
 
632.9

Inventories, net
780.8

 


 

 
 
780.8

Accrued investment income
192.0

 
(190.7
)
3(a)
 

 
 
1.3

Reinsurance recoverable
2,351.9

 
(2,351.9
)
3(a)
 

 
 

Deferred tax assets
285.0

 
134.1

3(a)
 

 
 
419.1

Properties, including oil and natural gas properties, net
812.8

 
(14.4
)
3(a)
 
(72.0
)
4(b)
 
726.4

Goodwill
2,487.4

 


 

 
 
2,487.4

Intangibles, including DAC and VOBA, net
3,528.9

 
(1,048.6
)
3(a)
 

 
 
2,480.3

Other assets
954.7

 
991.4

3(a)
 


 
1,946.1

Assets held for sale

 
24,986.1

3(a)
 

 
 
24,986.1

Total assets
$
32,334.1

 
$
3,172.5

3(a)
 
$
(69.2
)
 
 
$
35,437.4

 
 
 
 

 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 

 
 
 
 
 
Insurance reserves:
 
 
 

 
 
 
 
 
Contractholder funds
$
17,769.8

 
$
(17,769.8
)
3(a)
 
$

 
 
$

Future policy benefits
4,096.8

 
(2,240.7
)
3(a)
 

 
 
1,856.1

Liability for policy and contract claims
55.3

 
(55.3
)
3(a)
 

 
 

Funds withheld from reinsurers
9.8

 
(9.8
)
3(a)
 

 
 

Total insurance reserves
21,931.7

 
(20,075.6
)
3(a)
 

 
 
1,856.1

Debt
6,382.7

 
30.7

3(a)
 
(147.0
)
4(c)
 
6,266.4

Accounts payable and other current liabilities
1,137.7

 
(42.1
)
3(a)
 
(5.4
)
4(d)
 
1,090.2

Employee benefit obligations
92.9

 


 

 
 
92.9

Deferred tax liabilities
613.6

 
328.8

3(a)
 

 
 
942.4

Other liabilities
587.4

 
(491.9
)
3(a)
 
(18.0
)
4(e)
 
77.5

Liabilities held for sale

 
23,422.6

3(a)
 

 
 
23,422.6

Total liabilities
30,746.0

 
3,172.5

3(a)
 
(170.4
)
 
 
33,748.1

 
 
 
 

 
 
 
 
 
 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
)
 


 
100.7

4(j)
 
(732.4
)
Accumulated other comprehensive loss
(40.7
)
 


 

 
 
(40.7
)
Total HRG Group, Inc. shareholders' equity
586.7

 


 
100.7

 
 
687.4

 Noncontrolling interest
1,001.4

 


 
0.5

4(l)
 
1,001.9

Total shareholders’ equity
1,588.1

 


 
101.2

 
 
1,689.3

Total liabilities and equity
$
32,334.1

 
$
3,172.5


 
$
(69.2
)
 
 
$
35,437.4

See accompanying notes to unaudited pro forma condensed combined financial statements.

13


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