Harbinger Group Inc.
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SEC Filings

10-Q
HRG GROUP, INC. filed this Form 10-Q on 05/05/2017
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HRG Group, Inc. - Condensed Consolidating Statements of Operations Information
Six months ended March 31, 2017
 
Consumer Products
 
Insurance
 
Corporate and Other
 
Discontinued Operations
 
Eliminations and adjustments
 
 Total
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
Net consumer and other product sales
 
$
2,381.7

 
$

 
$

 
$

 
$

 
$
2,381.7

Net investment income
 

 
0.1

 
1.0

 

 
22.5

 
23.6

Net investment gains (losses)
 

 
12.2

 

 

 
(14.0
)
 
(1.8
)
Insurance and investment product fees and other
 

 

 

 

 
2.2

 
2.2

Total revenues
 
2,381.7

 
12.3

 
1.0

 

 
10.7

 
2,405.7

Operating costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Cost of consumer products and other goods sold
 
1,476.5

 

 

 

 

 
1,476.5

Benefits and other changes in policy reserves
 

 
26.3

 

 

 
(4.9
)
 
21.4

Selling, acquisition, operating and general expenses
 
610.0

 
5.5

 
31.3

 

 
(0.2
)
 
646.6

Total operating costs and expenses
 
2,086.5

 
31.8

 
31.3

 

 
(5.1
)
 
2,144.5

Operating income
 
295.2

 
(19.5
)
 
(30.3
)
 

 
15.8

 
261.2

Equity in net income of subsidiaries
 

 

 
231.4

 

 
(231.4
)
 

Interest expense
 
(106.4
)
 

 
(73.6
)
 

 

 
(180.0
)
Affiliated interest expense
 

 

 
(3.7
)
 

 
3.7

 

Other expense, net
 
(0.8
)
 
0.1

 
0.5

 

 
(0.4
)
 
(0.6
)
Income from continuing operations before income taxes
 
188.0

 
(19.4
)
 
124.3

 

 
(212.3
)
 
80.6

Income tax expense (benefit)
 
64.1

 
8.7

 
(5.7
)
 

 
8.5

 
75.6

Net income from continuing operations
 
123.9

 
(28.1
)
 
130.0

 

 
(220.8
)
 
5.0

(Loss) income from discontinued operations, net of tax
 

 

 

 
204.4

 

 
204.4

Net (loss) income
 
123.9

 
(28.1
)
 
130.0

 
204.4

 
(220.8
)
 
209.4

Less: Net income attributable to noncontrolling interest
 
51.9

 

 
(0.1
)
 
27.5

 

 
79.3

Net (loss) income attributable to controlling interest
 
$
72.0

 
$
(28.1
)
 
$
130.1

 
$
176.9

 
$
(220.8
)
 
$
130.1

Six months ended March 31, 2016
 
Consumer Products
 
Insurance
 
Corporate and Other
 
Discontinued Operations
 
Eliminations and adjustments
 
 Total
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
Net consumer and other product sales
 
$
2,428.4

 
$

 
$

 
$

 
$

 
$
2,428.4

Net investment income
 

 
1.5

 
6.7

 

 
28.3

 
36.5

Net investment gains (losses)
 

 
28.6

 

 

 
(20.9
)
 
7.7

Insurance and investment product fees and other
 

 

 
0.9

 

 
3.2

 
4.1

Total revenues
 
2,428.4

 
30.1

 
7.6

 

 
10.6

 
2,476.7

Operating costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Cost of consumer products and other goods sold
 
1,524.9

 

 

 

 

 
1,524.9

Benefits and other changes in policy reserves
 

 
26.1

 

 

 
17.2

 
43.3

Selling, acquisition, operating and general expenses
 
612.5

 
5.4

 
48.7

 

 
(0.4
)
 
666.2

Total operating costs and expenses
 
2,137.4

 
31.5

 
48.7

 

 
16.8

 
2,234.4

Operating income
 
291.0

 
(1.4
)
 
(41.1
)
 

 
(6.2
)
 
242.3

Equity in net income of subsidiaries
 

 

 
44.7

 

 
(44.7
)
 

Interest expense
 
(115.9
)
 

 
(71.4
)
 

 
(2.3
)
 
(189.6
)
Affiliated interest expense
 

 

 
(7.6
)
 

 
7.6

 

Other expense, net
 
(4.3
)
 

 
3.9

 

 
(0.3
)
 
(0.7
)
Income from continuing operations before income taxes
 
170.8

 
(1.4
)
 
(71.5
)
 

 
(45.9
)
 
52.0

Income tax expense (benefit)
 
4.4

 
(1.8
)
 
(12.9
)
 

 
(10.7
)
 
(21.0
)
Net income from continuing operations
 
166.4

 
0.4

 
(58.6
)
 

 
(35.2
)
 
73.0

(Loss) income from discontinued operations, net of tax
 

 

 

 
(50.1
)
 

 
(50.1
)
Net (loss) income
 
166.4

 
0.4

 
(58.6
)
 
(50.1
)
 
(35.2
)
 
22.9

Less: Net income attributable to noncontrolling interest
 
70.3

 

 

 
11.2

 

 
81.5

Net (loss) income attributable to controlling interest
 
$
96.1

 
$
0.4

 
$
(58.6
)
 
$
(61.3
)
 
$
(35.2
)
 
$
(58.6
)

37

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