Harbinger Group Inc.
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SEC Filings

10-Q
HRG GROUP, INC. filed this Form 10-Q on 08/09/2016
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Nine months ended June 30, 2016
 
Net Sales
 
Effect of changes in Currency
 
Net Sales Excluding Effect of Changes in Currency
 
Effect of Acquisitions
 
Organic Net Sales
 
Net Sales June 30, 2015
 
Variance
 
% Variance
Hardware and home improvement products
 
$
912.9

 
$
13.4

 
$
926.3

 
$

 
$
926.3

 
$
874.1

 
$
52.2

 
6.0
 %
Home and garden control products
 
414.7

 

 
414.7

 

 
414.7

 
365.7

 
49.0

 
13.4
 %
Global pet supplies
 
619.0

 
5.7

 
624.7

 
(74.5
)
 
550.2

 
538.8

 
11.4

 
2.1
 %
Consumer batteries
 
618.0

 
38.2

 
656.2

 

 
656.2

 
600.3

 
55.9

 
9.3
 %
Global auto care
 
353.1

 
0.3

 
353.4

 
(277.3
)
 
76.1

 
64.4

 
11.7

 
18.2
 %
Small appliances
 
479.3

 
27.2

 
506.5

 

 
506.5

 
536.7

 
(30.2
)
 
(5.6
)%
Personal care products
 
393.0

 
24.4

 
417.4

 

 
417.4

 
402.3

 
15.1

 
3.8
 %
Total
 
$
3,790.0

 
$
109.2

 
$
3,899.2

 
$
(351.8
)
 
$
3,547.4

 
$
3,382.3

 
$
165.1

 
4.9
 %
Adjusted EBITDA — Energy
The table below shows the adjustments made to the reported net loss of the Energy segment to calculate its Adjusted EBITDA - Energy (in millions):
 
 
Fiscal Quarter
 
Fiscal Nine Months
Reconciliation to reported net loss
 
2016
 
2015
 
Increase / (Decrease)
 
2016
 
2015
 
Increase / (Decrease)
Reported net loss - Energy Segment
 
$
(28.2
)
 
$
(121.9
)
 
$
93.7

 
$
(19.7
)
 
$
(321.9
)
 
$
302.2

Interest expense
 
3.9

 
5.2

 
(1.3
)
 
12.1

 
14.1

 
(2.0
)
Depreciation, amortization and depletion
 
3.1

 
9.7

 
(6.6
)
 
13.2

 
35.7

 
(22.5
)
EBITDA - Energy segment
 
(21.2
)
 
(107.0
)
 
85.8

 
5.6

 
(272.1
)
 
277.7

Accretion of discount on asset retirement obligations
 
0.4

 
0.8

 
(0.4
)
 
1.4

 
2.1

 
(0.7
)
Impairments and bad debt expense
 
17.6

 
102.8

 
(85.2
)
 
93.2

 
439.4

 
(346.2
)
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
 
1.2

 
0.3

 
0.9

 
2.7

 
2.6

 
0.1

Loss (gain) on derivative financial instruments
 
2.2

 
2.7

 
(0.5
)
 
(0.3
)
 
(21.3
)
 
21.0

Cash settlements on derivative financial instruments
 
0.5

 
6.2

 
(5.7
)
 
9.5

 
14.1

 
(4.6
)
Stock based compensation expense
 

 

 

 

 
0.6

 
(0.6
)
Adjusted EBITDA - Energy segment
 
$
0.7

 
$
5.8

 
$
(5.1
)
 
$
6.5

 
$
24.2

 
$
(17.7
)
The Adjusted EBITDA-Energy for the Fiscal 2016 Quarter was $0.7 million, a decrease of $5.1 million from the Fiscal 2015 Quarter. The Adjusted EBITDA-Energy for the Fiscal 2016 Nine Months was $6.5 million, a decrease of $17.7 million from the Fiscal 2015 Nine 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.

59

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