Harbinger Group Inc.
    Print Page | Close Window

SEC Filings

10-Q
HRG GROUP, INC. filed this Form 10-Q on 05/09/2016
Entire Document
 << Previous Page | Next Page >>

Adjusted EBITDA — Energy
The table below shows the adjustments made to the reported net (loss) income of the Energy segment to calculate its Adjusted EBITDA - Energy (in millions):
 
 
Fiscal Quarter
 
Fiscal Six Months
Reconciliation to reported net (loss) income
 
2016
 
2015
 
Increase / (Decrease)
 
2016
 
2015
 
Increase / (Decrease)
Reported net (loss) income - Energy Segment
 
$
(29.8
)
 
$
(160.5
)
 
$
130.7

 
$
8.5

 
$
(200.0
)
 
$
208.5

Interest expense
 
3.6

 
4.4

 
(0.8
)
 
8.2

 
8.9

 
(0.7
)
Depreciation, amortization and depletion
 
3.6

 
12.5

 
(8.9
)
 
10.1

 
26.0

 
(15.9
)
EBITDA - Energy segment
 
(22.6
)
 
(143.6
)
 
121.0

 
26.8

 
(165.1
)
 
191.9

Accretion of discount on asset retirement obligations
 
0.4

 
0.7

 
(0.3
)
 
1.0

 
1.3

 
(0.3
)
Impairments and bad debt expense
 
21.2

 
146.6

 
(125.4
)
 
75.6

 
336.6

 
(261.0
)
Gain on sale of oil and gas properties
 

 

 

 
(105.6
)
 

 
(105.6
)
Gain on remeasurement of investment to fair value
 

 

 

 

 
(141.2
)
 
141.2

Non-recurring other operating items
 
0.5

 
1.3

 
(0.8
)
 
1.5

 
2.3

 
(0.8
)
Gain on derivative financial instruments
 
(0.8
)
 
(5.3
)
 
4.5

 
(2.5
)
 
(24.0
)
 
21.5

Cash settlements on derivative financial instruments
 
0.7

 
5.5

 
(4.8
)
 
9.0

 
7.9

 
1.1

Stock based compensation expense
 

 
0.3

 
(0.3
)
 

 
0.6

 
(0.6
)
Adjusted EBITDA - Energy segment
 
$
(0.6
)
 
$
5.5

 
$
(6.1
)
 
$
5.8

 
$
18.4

 
$
(12.6
)
The Adjusted EBITDA-Energy for the Fiscal 2016 Quarter was negative $0.6 million, a decrease of $6.1 million from the Fiscal 2015 Quarter. The Adjusted EBITDA-Energy for the Fiscal 2016 Six Months was $5.8 million, a decrease of $12.6 million from the Fiscal 2015 Six Months. The decreases were primarily attributable to the decline in average sales price for oil and natural gas during the Fiscal 2016 Quarter coupled with natural production declines.

54

 << Previous Page | Next Page >>