SEC Filings
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| 10-Q | |||||
| HRG GROUP, INC. filed this Form 10-Q on 05/05/2017 | |||||
| Entire Document | |||||
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account deposits of $69.5 million; (iii) purchases of Spectrum Brands stock of $49.6 million; (iv) share-based award tax withholding payments of $27.3 million; and (v) dividend paid by Spectrum Brands to noncontrolling interests of $18.2 million, partially offset by borrowing under Spectrum Brands’ Revolver Facility of $175.0 million. Debt Financing Activities At March 31, 2017, HRG and its subsidiaries were in compliance with their respective covenants under their respective documents. See Note 9, Debt, to our Condensed Consolidated Financial Statements included in Part I - Item 1. Financial Statements for additional information regarding the Company and its subsidiaries’ debt activities during the Fiscal 2017 Six Months. Equity Financing Activities During the Fiscal 2017 Six Months, we granted shares and restricted stock awards representing approximately 25 thousand shares to our employees and directors. The total market value of the restricted shares on the date of grant was approximately $0.4 million, a portion of which represented unearned restricted stock-based compensation. Unearned compensation is amortized to expense over the appropriate vesting period. Contractual Obligations At March 31, 2017, there have been no material changes to the contractual obligations as set forth in our Form 10-K, except as discussed in Note 9, Debt, to our Condensed Consolidated Financial Statements. Refer to our Condensed Consolidated Financial Statements included in Part I - Item 1. Financial Statements for additional information. Off-Balance Sheet Arrangements Throughout our history, we have entered into indemnifications in the ordinary course of business with our customers, suppliers, service providers, business partners and in connection with the purchase and sale of assets, securities and businesses. Additionally, we have indemnified our directors and officers who are, or were, serving at our request in such capacities. Although the specific terms or number of such arrangements is not precisely quantifiable, we do not believe that future costs associated with such arrangements will have a material impact on our financial position, results of operations or cash flows. At March 31, 2017, there have been no material changes to the off-balance sheet arrangements as set forth in our Form 10-K. Critical Accounting Policies and Estimates The preparation of our financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in our financial statements and accompanying notes. Actual results could differ materially from those estimates. There have been no material changes to the critical accounting policies and estimates as discussed in our Form 10-K. Recent Accounting Pronouncements Not Yet Adopted See Note 2, Basis of Presentation, Significant Accounting Policies and Recent Accounting Pronouncements to the Company’s Condensed Consolidated Financial Statements included in Part I - Item 1. Financial Statements for recent accounting policies not yet adopted.
Market Risk Factors There has been no material changes in the Company’s market risk during the six months ended March 31, 2017. For additional information, refer to Note 5, Derivative Financial Instruments, Note 6, Fair Value of Financial Instruments, Note 7, Funds Withheld Receivables and Note 9, Debt to our Condensed Consolidated Financial Statements included in Part I - Item 1. Financial Statements in this report and to Part II, Item 7A of our Form 10-K. 55 | |||||
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