Harbinger Group Inc.
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SEC Filings

8-K
HRG GROUP, INC. filed this Form 8-K on 08/29/2016
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HRG GROUP, INC.
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(For the nine months ended June 30, 2016, in millions, except per share data)
Historical Condensed Consolidated
 
Pro Forma Adjustments
 
 
Pro Forma Condensed Consolidated
Revenues:
 
 
 
 
 
 
Net consumer and other product sales
$
3,790.0

 
$

 
 
$
3,790.0

Oil and natural gas
36.0

 
(36.0
)
e
 

Net investment income
53.3

 

 
 
53.3

Net investment gains
64.6

 

 
 
64.6

Insurance and investment product fees and other
6.2

 

 
 
6.2

Total revenues
3,950.1

 
(36.0
)
 
 
3,914.1

Operating costs and expenses:
 
 
 
 
 
 
Cost of consumer products and other goods sold
2,355.8

 

 
 
2,355.8

Oil and natural gas direct operating costs
35.4

 
(35.4
)
e
 

Benefits and other changes in policy reserves
74.3

 

 
 
74.3

Selling, acquisition, operating and general expenses
947.8

 
(20.6
)
e
 
927.2

Impairments and bad debt expense
106.5

 
(93.3
)
e
 
13.2

Amortization of intangibles
70.5

 

 
 
70.5

Total operating costs and expenses
3,590.3

 
(149.3
)
 
 
3,441.0

Operating income
359.8

 
113.3

 
 
473.1

Interest expense
(291.7
)
 
8.7

f
 
(283.0
)
Gain on sale of oil and gas properties
105.6

 
(105.6
)
g
 

Other expense, net
(1.7
)
 


 
(1.7
)
Income from continuing operations before income taxes
172.0

 
16.4

 
 
188.4

Income tax benefit
(15.0
)
 

h
 
(15.0
)
Net income from continuing operations
187.0

 
16.4

 
 
203.4

Less: Net income attributable to the noncontrolling interest
108.3

 
(0.1
)
i
 
108.2

Net income from continuing operations attributable to controlling interest
$
78.7

 
$
16.5

 
 
$
95.2

 
 
 
 
 
 
 
Net income per common share from continuing operations attributable to controlling interest:
 
 
 
 
 

Basic
$
0.40

 
$
0.08

j
 
$
0.48

Diluted
$
0.39

 
$
0.08

j
 
$
0.47

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



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