|
| | | | | | | | | | | | | | | |
| Three months ended March 31, | | Six months ended March 31, |
| 2017 | | 2016 | | 2017 | | 2016 |
| (Unaudited) | | (Unaudited) |
Revenues: | | | | | | | |
Net consumer and other product sales | $ | 1,169.9 |
| | $ | 1,209.6 |
| | $ | 2,381.7 |
| | $ | 2,428.4 |
|
Net investment income | 12.9 |
| | 16.2 |
| | 23.6 |
| | 36.5 |
|
Net investment gains (losses) | 32.0 |
| | 39.7 |
| | (1.8 | ) | | 7.7 |
|
Insurance and investment product fees and other | 1.3 |
| | 1.8 |
| | 2.2 |
| | 4.1 |
|
Total revenues | 1,216.1 |
| | 1,267.3 |
| | 2,405.7 |
| | 2,476.7 |
|
Operating costs and expenses: | | | | | | | |
Cost of consumer products and other goods sold | 714.7 |
| | 746.8 |
| | 1,476.5 |
| | 1,524.9 |
|
Benefits and other changes in policy reserves | 33.0 |
| | 42.5 |
| | 21.4 |
| | 43.3 |
|
Selling, acquisition, operating and general expenses | 324.9 |
| | 335.5 |
| | 646.6 |
| | 666.2 |
|
Total operating costs and expenses | 1,072.6 |
| | 1,124.8 |
| | 2,144.5 |
| | 2,234.4 |
|
Operating income | 143.5 |
| | 142.5 |
| | 261.2 |
| | 242.3 |
|
Interest expense | (88.3 | ) | | (94.4 | ) | | (180.0 | ) | | (189.6 | ) |
Other expense, net | (2.0 | ) | | — |
| | (0.6 | ) | | (0.7 | ) |
Income from continuing operations before income taxes | 53.2 |
| | 48.1 |
| | 80.6 |
| | 52.0 |
|
Income tax expense (benefit) | 50.2 |
| | (15.4 | ) | | 75.6 |
| | (21.0 | ) |
Net income from continuing operations | 3.0 |
| | 63.5 |
| | 5.0 |
| | 73.0 |
|
(Loss) income from discontinued operations, net of tax | (54.4 | ) | | (47.6 | ) | | 204.4 |
| | (50.1 | ) |
Net (loss) income | (51.4 | ) | | 15.9 |
| | 209.4 |
| | 22.9 |
|
Less: Net income attributable to noncontrolling interest | 30.7 |
| | 40.6 |
| | 79.3 |
| | 81.5 |
|
Net (loss) income attributable to controlling interest | $ | (82.1 | ) | | $ | (24.7 | ) | | $ | 130.1 |
| | $ | (58.6 | ) |
| | | | | | | |
Amounts attributable to controlling interest: | | | | | | | |
Net (loss) income from continuing operations | $ | (21.3 | ) | | $ | 24.5 |
| | $ | (46.8 | ) | | $ | 2.7 |
|
Net (loss) income from discontinued operations | (60.8 | ) | | (49.2 | ) | | 176.9 |
| | (61.3 | ) |
Net (loss) income attributable to controlling interest | $ | (82.1 | ) | | $ | (24.7 | ) | | $ | 130.1 |
| | $ | (58.6 | ) |
| | | | | | | |
Net (loss) income per common share attributable to controlling interest: | | | | | | | |
Basic (loss) income from continuing operations | $ | (0.11 | ) | | $ | 0.12 |
| | $ | (0.23 | ) | | $ | 0.01 |
|
Basic (loss) income from discontinued operations | (0.30 | ) | | (0.24 | ) | | 0.88 |
| | (0.31 | ) |
Basic | $ | (0.41 | ) | | $ | (0.12 | ) | | $ | 0.65 |
| | $ | (0.30 | ) |
| | | | | | | |
Diluted (loss) income from continuing operations | $ | (0.11 | ) | | $ | 0.12 |
| | $ | (0.23 | ) | | $ | 0.01 |
|
Diluted (loss) income from discontinued operations | (0.30 | ) | | (0.24 | ) | | 0.88 |
| | (0.30 | ) |
Diluted | $ | (0.41 | ) | | $ | (0.12 | ) | | $ | 0.65 |
| | $ | (0.29 | ) |