Harbinger Group Inc.
    Print Page | Close Window

SEC Filings

10-Q
HRG GROUP, INC. filed this Form 10-Q on 02/07/2017
Entire Document
 << Previous Page | Next Page >>

HRG GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
 
Three months ended December 31,
 
2016
 
2015
 
(Unaudited)
Cash flows from operating activities:
 
 
 
Net income
$
260.8

 
$
7.0

Income (loss) from discontinued operations, net of tax
258.8

 
(2.5
)
Net income from continuing operations
2.0

 
9.5

Adjustments to reconcile net income to operating cash flows from continuing operations:
 
 
 
Depreciation of properties
22.7

 
23.2

Amortization of intangibles
23.6

 
23.6

Loan provision and bad debt expense
2.9

 
8.4

Stock-based compensation
11.1

 
15.0

Amortization of debt issuance costs
3.3

 
3.4

Amortization of debt discount
0.4

 
0.3

Write-off of debt issuance costs
1.9

 

Deferred income taxes
13.9

 
(24.5
)
Interest credited/index credits to contractholder account balances
0.5

 
9.1

Net recognized losses on investments and derivatives
11.7

 
20.2

Charges assessed to contractholders for policy fees and administration
(0.2
)
 
(0.2
)
Dividends from subsidiaries classified as discontinued operations
3.1

 
3.1

Changes in operating assets and liabilities
(89.0
)
 
(312.4
)
Net change in cash due to continuing operating activities
7.9

 
(221.3
)
Net change in cash due to discontinued operating activities
72.8

 
132.4

Net change in cash due to operating activities
80.7

 
(88.9
)
Cash flows from investing activities:
 
 
 
Proceeds from investments sold, matured or repaid
1.0

 
52.1

Cost of investments acquired
(1.9
)
 
(0.3
)
Net asset-based loan repayments
17.4

 
65.2

Purchases of property, plant and equipment
(28.0
)
 
(17.4
)
Other investing activities, net
(0.7
)
 
0.1

Net change in cash due to continuing investing activities
(12.2
)
 
99.7

Net change in cash due to discontinued investing activities
(593.9
)
 
(53.7
)
Net change in cash due to investing activities
(606.1
)
 
46.0

Cash flows from financing activities:
 
 
 
Proceeds from issuance of new debt
177.2

 
230.0

Repayment of debt, including tender and call premiums
(143.7
)
 
(87.6
)
Debt issuance costs
(0.5
)
 
(1.0
)
Purchases of subsidiary stock, net
(97.6
)
 
(49.6
)
Contractholder account deposits
1.5

 
1.1

Contractholder account withdrawals
(31.1
)
 
(37.0
)
Dividend paid by subsidiary to noncontrolling interest
(9.6
)
 
(8.7
)
Share based award tax withholding payments
(34.9
)
 
(20.6
)
Other financing activities, net
0.9

 
3.4

Net change in cash due to continuing financing activities
(137.8
)
 
30.0

Net change in cash due to discontinued financing activities
288.9

 
(37.3
)
Net change in cash due to financing activities
151.1

 
(7.3
)
Effect of exchange rate changes on cash and cash equivalents
(6.4
)
 
(3.1
)
Net change in cash and cash equivalents
(380.7
)
 
(53.3
)
Net change in cash and cash equivalents in discontinued operations
(232.2
)
 
41.4

Net change in cash and cash equivalents in continuing operations
(148.5
)
 
(94.7
)
Cash and cash equivalents at beginning of period
497.3

 
661.2

Cash and cash equivalents at end of period
$
348.8

 
$
566.5

See accompanying notes to condensed consolidated financial statements.

6

 << Previous Page | Next Page >>