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. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
 
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
)
See accompanying notes to condensed consolidated financial statements.



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