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 year ended September 30, 2015, in millions, except per share data)
Historical Condensed Consolidated
 
Pro Forma Adjustments
 
 
Pro Forma Condensed Consolidated
Revenues:
 
 
 
 
 
 
Net consumer and other product sales
$
4,733.1

 
$

 
 
$
4,733.1

Oil and natural gas
107.4

 
(107.4
)
e
 

Insurance premiums
59.8

 

 
 
59.8

Net investment income
927.2

 

 
 
927.2

Net investment losses
(104.7
)
 

 
 
(104.7
)
Insurance and investment product fees and other
93.1

 

 
 
93.1

Total revenues
5,815.9

 
(107.4
)
 
 
5,708.5

Operating costs and expenses:
 
 
 
 
 
 
Cost of consumer products and other goods sold
3,050.9

 

 
 
3,050.9

Oil and natural gas direct operating costs
85.9

 
(85.9
)
e
 

Benefits and other changes in policy reserves
625.5

 

 
 
625.5

Selling, acquisition, operating and general expenses
1,476.5

 
(62.0
)
e
 
1,414.5

Impairments and bad debt expense
675.3

 
(485.1
)
e
 
190.2

Amortization of intangibles
129.6

 

 
 
129.6

Total operating costs and expenses
6,043.7

 
(633.0
)
 
 
5,410.7

Operating (loss) income
(227.8
)
 
525.6

 
 
297.8

Interest expense
(429.7
)
 
9.9

f
 
(419.8
)
Gain on deconsolidation of subsidiary
38.5

 

 
 
38.5

Gain upon gaining control of equity method investment
141.2

 
(141.2
)
k
 

Other income, net
37.0

 
(25.7
)
e
 
11.3

Loss from continuing operations before income taxes
(440.8
)
 
368.6

 
 
(72.2
)
Income tax expense
71.6

 

h
 
71.6

Net loss
(512.4
)
 
368.6

 
 
(143.8
)
Less: Net income attributable to noncontrolling interest
44.4

 
1.0

i
 
45.4

Net loss attributable to controlling interest
$
(556.8
)
 
$
367.6

 
 
$
(189.2
)
 
 
 
 
 
 

Net loss per common share attributable to controlling interest:
 
 
 
 
 

Basic
$
(2.81
)
 
$
1.86

j
 
$
(0.95
)
Diluted
$
(2.81
)
 
$
1.86

j
 
$
(0.95
)
See accompanying notes to unaudited pro forma condensed consolidated financial statements.

4

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