Harbinger Group Inc.
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SEC Filings

8-K
HRG GROUP, INC. filed this Form 8-K on 02/05/2016
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HRG GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
 
 
Three months ended December 31,
 
 
2015
 
2014
 
 
(Unaudited)
Revenues:
 
 
 
 
Net consumer and other product sales
 
$
1,218.8

 
$
1,088.8

Oil and natural gas
 
16.8

 
34.3

Net investment income
 
20.3

 
24.1

Net investment losses
 
(32.0
)
 
(6.5
)
Insurance and investment product fees and other
 
2.3

 
1.1

Total revenues
 
1,226.2

 
1,141.8

Operating costs and expenses:
 
 
 
 
Cost of consumer products and other goods sold
 
778.1

 
712.0

Oil and natural gas direct operating costs
 
17.1

 
20.5

Benefits and other changes in policy reserves
 
0.8

 
17.8

Selling, acquisition, operating and general expenses
 
308.1

 
336.2

Impairments and bad debt expense
 
63.2

 
249.8

Amortization of intangibles
 
23.6

 
20.5

Total operating costs and expenses
 
1,190.9

 
1,356.8

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
)
 
 
 
 
 
Amounts attributable to controlling interest:
 
 
 
 
Net income (loss) from continuing operations
 
$
11.1

 
$
(123.5
)
Net (loss) income from discontinued operations
 
(45.0
)
 
13.7

Net loss attributable to controlling interest
 
$
(33.9
)
 
$
(109.8
)
 
 
 
 
 
Net loss per common share attributable to controlling interest:
 
 
 
 
Basic income (loss) from continuing operations
 
$
0.06

 
$
(0.63
)
Basic (loss) income from discontinued operations
 
(0.23
)
 
0.07

Basic
 
$
(0.17
)
 
$
(0.56
)
 
 
 
 
 
Diluted income (loss) from continuing operations
 
$
0.06

 
$
(0.63
)
Diluted (loss) income from discontinued operations
 
(0.23
)
 
0.07

Diluted
 
$
(0.17
)
 
$
(0.56
)



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