Operating Segment and Related Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedules of Concentration of Risk, by Risk Factor

The Company's revenue concentrations of 10% and greater are as follows:

		Years Ended December 31,
	Segment	2019	2018
Customer A	Telecommunications	10.3%	11.0%

Summary of Company's Geographic and Operating Segments

Summary information with respect to the Company’s geographic and operating segments is as follows (in millions):

	Years Ended December 31,
	2019		2018
Net Revenue by Geographic Region
United States	$	1,777.7	$	1,757.7
United Kingdom	169.2		192.2
Other	37.2		26.8
Total	$	1,984.1	$	1,976.7

	Years Ended December 31,
	2019		2018
Net revenue
Construction	$	713.3	$	716.4
Marine Services	172.5		194.3
Energy	39.0		20.7
Telecommunications	696.1		793.6
Insurance	331.6		217.1
Broadcasting	41.8		45.4
Other	—		3.7
Eliminations (*)	(10.2)		(14.5)
Total net revenue	$	1,984.1	$	1,976.7

^(*) The Insurance segment revenues are inclusive of realized and unrealized gains and net investment income for the year ended December 31, 2019 and 2018 which are related to entities under common control which are eliminated or are reclassified in consolidation.

	Years Ended December 31,
	2019		2018
Income (loss) from operations
Construction	$	45.1	$	41.9
Marine Services	(6.1)		(15.4)
Energy	10.1		(0.5)
Telecommunications	(1.8)		4.8
Insurance	37.3		1.8
Life Sciences	(8.9)		(13.8)
Broadcasting	(11.4)		(24.0)
Other	—		(2.5)
Non-operating Corporate	(25.0)		(33.6)
Eliminations (*)	(10.2)		(14.5)
Total income (loss) from operations	$	29.1	$	(55.8)

^(*) The Insurance segment revenues are inclusive of realized and unrealized gains and net investment income for the year ended December 31, 2019 and 2018 which are related to transactions between entities under common control which are eliminated or are reclassified in consolidation.

A reconciliation of the Company's consolidated segment operating income to consolidated earnings before income taxes is as follows (in millions):

	Years Ended December 31,
	2019		2018
Income (loss) from operations	$	29.1	$	(55.8)
Interest expense	(95.1)		(75.7)
Gain on sale and deconsolidation of subsidiary	—		105.1
Income from equity investees	2.2		15.4
Gain on bargain purchase	1.1		115.4
Other income	6.0		77.9
(Loss) income from continuing operations	(56.7)		182.3
Income tax benefit (expense)	20.6		(2.4)
Net (loss) income	(36.1)		179.9
Net loss (income) attributable to noncontrolling interest and redeemable noncontrolling interest	4.6		(17.9)
Net (loss) income attributable to HC2 Holdings, Inc.	(31.5)		162.0
Less: Preferred dividends, deemed dividends, and repurchase gains	—		6.4
Net (loss) income attributable to common stock and participating preferred stockholders	$	(31.5)	$	155.6

	Years Ended December 31,
	2019		2018
Depreciation and Amortization
Construction	$	15.5	7.4
Marine Services	25.7		27.2
Energy	6.9		5.5
Telecommunications	0.3		0.3
Insurance (*)	(23.1)		(12.4)
Life Sciences	0.3		0.2
Broadcasting	6.3		3.3
Other	—		0.1
Non-operating Corporate	0.1		0.1
Total	$	32.0	$	31.7

^(*) Balance includes amortization of negative VOBA, which increases net income.

	Years Ended December 31,
	2019		2018
Capital Expenditures (*)
Construction	$	9.8	$	14.9
Marine Services	15.6		21.7
Energy	1.1		1.5
Telecommunications	—		0.1
Insurance	0.6		0.3
Life Sciences	0.1		—
Broadcasting	14.2		1.1
Non-operating Corporate	—		0.1
Total	$	41.4	$	39.7

^(*) The above capital expenditures exclude assets acquired under terms of capital lease and vendor financing obligations.

Segment Reporting for Long-term investments, Property and Equipment - Net and Assets

	December 31,
	2019		2018
Investments
Construction	$	0.9	$	0.9
Marine Services	64.4		58.3
Insurance	4,423.0		3,821.4
Life Sciences	22.0		16.3
Other	1.6		5.6
Eliminations	(102.9)		(80.5)
Total	$	4,409.0	$	3,822.0

	December 31,
	2019		2018
Property, plant and equipment, net
United States	$	215.7	$	178.2
United Kingdom	182.1		192.7
Other	8.0		5.4
Total	$	405.8	$	376.3

	December 31,
	2019		2018
Total Assets
Construction	$	530.4	$	537.9
Marine Services	370.7		368.6
Energy	142.8		77.6
Telecommunications	89.3		139.9
Insurance	5,611.9		5,213.1
Life Sciences	28.4		35.6
Broadcasting	257.9		202.8
Other	1.6		5.6
Non-operating Corporate	27.2		9.2
Eliminations	(101.9)		(86.5)
Total	$	6,958.3	$	6,503.8