SCHEDULE II
(continued)
HRG GROUP, INC. (Registrant Only)
STATEMENTS OF OPERATIONS
(In millions)
|
| | | | | | | | | | | | |
| | Fiscal |
| | 2016 | | 2015 | | 2014 |
Revenues | | $ | — |
| | $ | — |
| | $ | — |
|
Cost of revenues | | — |
| | — |
| | — |
|
Gross profit | | — |
| | — |
| | — |
|
Operating expenses: | | | | | | |
General and administrative | | 50.7 |
| | 100.2 |
| | 111.1 |
|
Acquisition related charges | | 0.2 |
| | 0.4 |
| | 4.2 |
|
Total operating expenses | | 50.9 |
| | 100.6 |
| | 115.3 |
|
Operating loss | | (50.9 | ) | | (100.6 | ) | | (115.3 | ) |
Other income (expense): | | | | | | |
Equity in net (loss) income of subsidiaries (a) | | (214.8 | ) | | (357.2 | ) | | 207.7 |
|
Interest expense | | (143.1 | ) | | (124.2 | ) | | (89.7 | ) |
Loss from the change in the fair value of the equity conversion feature of preferred stock | | — |
| | — |
| | (12.7 | ) |
Gain on contingent purchase price reduction | | — |
| | 8.5 |
| | 0.5 |
|
Other, net | | 2.0 |
| | 15.2 |
| | 0.1 |
|
Loss before income taxes | | (406.8 | ) | | (558.3 | ) | | (9.4 | ) |
Income tax (benefit) expense (b) | | (208.0 | ) | | (1.5 | ) | | 0.9 |
|
Net (loss) | | (198.8 | ) | | (556.8 | ) | | (10.3 | ) |
Less: Preferred stock dividends and accretion and loss on conversion | | — |
| | — |
| | 73.6 |
|
Net loss attributable to common and participating preferred stockholders | | $ | (198.8 | ) | | $ | (556.8 | ) | | $ | (83.9 | ) |
(a) Includes $(243.4), $(243.5), and $74.4 for Fiscal 2016, 2015 and 2014, respectively, related to the Company’s investments in FGL and Compass, which were classified as discontinued operations.
(b) Includes income tax benefit of $(206.2) for Fiscal 2016 related to classifying the Company’s ownership interest in FGL as held for sale
See accompanying Report of Independent Registered Public Accounting Firm.
