Harbinger Group Inc.
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SEC Filings

10-Q
HRG GROUP, INC. filed this Form 10-Q on 02/07/2017
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(16) Consolidating Financial Information
The following schedules present the Company’s accompanying Condensed Consolidated Balance Sheets information at December 31, 2016 and September 30, 2016, and accompanying Condensed Consolidated Statements of Operations information for the three months ended December 31, 2016 and 2015. These schedules present the individual segments of the Company and their contribution to the Condensed Consolidated Financial Statements. Amounts presented will not necessarily be the same as those in the individual financial statements of the Company’s subsidiaries due to adjustments for purchase accounting, income taxes and noncontrolling interests. In addition, some of the Company’s subsidiaries use a classified balance sheet which also leads to differences in amounts reported for certain line items.
The Corporate and Other column primarily reflects the parent company’s investment in its subsidiaries, invested cash portfolio and corporate long term debt, and the results of Salus and HGI Energy. The elimination adjustments are for intercompany assets and liabilities, adjustments to align segment accounting policies with the consolidated basis, interest and dividends, the parent company’s investment in capital stocks of subsidiaries, and various reclasses of debit or credit balances to the amounts in consolidation. Purchase accounting adjustments have been pushed down to the appropriate subsidiary.

HRG Group, Inc. - Condensed Consolidating Balance Sheets Information
December 31, 2016
 
Consumer Products
 
Insurance
 
Corporate and Other
 
Discontinued Operations
 
Eliminations and adjustments
 
 Total
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
Investments in subsidiaries and affiliates
 
$
—

 
$
0.6

 
$
2,362.3

 
$
—

 
$
(2,362.9
)
 
$
—

Affiliated loans and receivables
 
—

 
20.2

 
0.2

 
—

 
(20.4
)
 
—

Cash and cash equivalents
 
143.3

 
35.4

 
170.1

 
—

 
—

 
348.8

Funds withheld receivables
 
—

 
1,682.8

 
—

 
—

 
(73.8
)
 
1,609.0

Receivables, net
 
546.2

 
9.7

 
0.4

 
—

 
0.2

 
556.5

Inventories, net
 
779.7

 
—

 
—

 
—

 
—

 
779.7

Deferred tax assets
 
18.2

 
12.4

 
—

 
—

 
17.8

 
48.4

Property, plant and equipment, net
 
568.2

 
—

 
0.9

 
—

 
—

 
569.1

Goodwill
 
2,464.5

 
—

 
—

 
—

 
—

 
2,464.5

Intangibles, net
 
2,327.9

 
—

 
—

 
—

 
—

 
2,327.9

Other assets
 
106.5

 
19.3

 
15.3

 
—

 
16.1

 
157.2

Assets of business held for sale
 
—

 
—

 
—

 
26,801.6

 
—

 
26,801.6

Total assets
 
$
6,954.5

 
$
1,780.4

 
$
2,549.2

 
$
26,801.6

 
$
(2,423.0
)
 
$
35,662.7

Liabilities and Equity:
 
 
 
 
 
 
 
 
 
 
 
 
Insurance reserves
 
$
—

 
$
1,653.3

 
$
—

 
$
—

 
$
68.6

 
$
1,721.9

Debt
 
3,656.2

 
—

 
1,746.0

 
—

 
56.8

 
5,459.0

Accounts payable and other current liabilities
 
825.4

 
6.6

 
67.9

 
—

 
0.5

 
900.4

Employee benefit obligations
 
106.5

 
—

 
5.2

 
—

 
—

 
111.7

Deferred tax liabilities
 
563.1

 
—

 
9.9

 
—

 
0.1

 
573.1

Other liabilities
 
17.9

 
2.8

 
6.0

 
—

 
—

 
26.7

Affiliated debt and payables
 
—

 
0.3

 
168.4

 
—

 
(168.7
)
 
—

Liabilities of business held for sale
 
—

 
—

 
—

 
25,200.5

 
—

 
25,200.5

Total liabilities
 
5,169.1

 
1,663.0

 
2,003.4

 
25,200.5

 
(42.7
)
 
33,993.3

Total stockholders’ equity
 
1,003.3

 
117.4

 
548.1

 
1,259.6

 
(2,380.3
)
 
548.1

Noncontrolling interests
 
782.1

 
—

 
(2.3
)
 
341.5

 
—

 
1,121.3

Total permanent equity
 
1,785.4

 
117.4

 
545.8

 
1,601.1

 
(2,380.3
)
 
1,669.4

Total liabilities and equity
 
$
6,954.5

 
$
1,780.4

 
$
2,549.2

 
$
26,801.6

 
$
(2,423.0
)
 
$
35,662.7


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