Harbinger Group Inc.
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SEC Filings

10-K
HRG GROUP, INC. filed this Form 10-K on 11/23/2016
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service any factored accounts, and any servicing of the trade receivable does not constitute significant continuing involvement or preclude the recognition of a sale. Spectrum Brands does not carry any material servicing assets or liabilities. Cash proceeds from these arrangements are reflected as operating activities. The aggregate gross amount factored under these facilities was $2,055.0, $1,938.0 and $1,575.0 for Fiscal 2016, 2015 and 2014, respectively. The cost of factoring such trade receivables was $10.1, $6.5 and $9.7 for Fiscal 2016, 2015 and 2014 and reported in “Selling, acquisition, operating and general expenses” in the accompanying Consolidated Statements of Operations.
The Company has a broad range of customers including many large retail outlet chains, one of which accounts for a significant percentage of its sales volume. This major customer represented approximately 15.2%, 14.7% and 15.7% of the Company’s “Net consumer and other product sales” during Fiscal 2016, 2015 and 2014, respectively. This customer represents approximately 13.1% of the Company’s “Receivables, net” in the accompanying Consolidated Balance Sheets at September 30, 2016 and 2015.
Approximately 36.1%, 37.7% and 40.2% of the Company’s “Net consumer and other product sales” in the accompanying Consolidated Statements of Operations during Fiscal 2016, 2015 and 2014, respectively, occurred outside of the U.S. These sales and related receivables are subject to varying degrees of credit, currency, and political and economic risk. The Company monitors these risks and makes appropriate provisions for collectibility based on an assessment of the risks present.
(10) Inventories, net
Inventories, net” in the accompanying Consolidated Balance Sheets consist of the following:
 
September 30,
 
2016
 
2015
Raw materials
$
127.5

 
$
132.4

Work-in-process
43.6

 
37.9

Finished goods
569.5

 
610.5

Total inventories, net
$
740.6

 
$
780.8


(11) Property, Plant and Equipment, net
Property, plant and equipment, net in the accompanying Consolidated Balance Sheets consist of the following:
 
September 30,
 
2016
 
2015
Land, buildings and improvements
$
196.9

 
$
192.2

Machinery, equipment and other
553.1

 
495.1

Capitalized leases
130.0

 
97.3

Construction in progress
57.7

 
51.8

Properties, plant and equipment at cost
937.7

 
836.4

Less: Accumulated depreciation
394.3

 
326.9

Total properties, plant and equipment, net
$
543.4

 
$
509.5



F-49

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