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 STATEMENT OF OPERATIONS
For the year ended September 30, 2015, in millions, except per share data
 
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
)
See accompanying notes to unaudited pro forma condensed combined financial statements.

14

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