Derivative Financial Instruments (Tables)

12 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Outstanding Derivative Contracts in Condensed Consolidated Balance Sheets

The fair value of outstanding derivative contracts recorded in the accompanying Consolidated Balance Sheets were as follows:

Asset Derivatives	Classification	September 30, 2013		September 30, 2012
Derivatives designated as hedging instruments:
Commodity swap and option agreements	Receivables, net	$	0.4	$	1.0
Commodity swap and option agreements	Other assets	—		1.0
Foreign exchange forward agreements	Receivables, net	1.7		1.2
Total asset derivatives designated as hedging instruments		2.1		3.2
Derivatives not designated as hedging instruments:
Commodity contracts	Receivables, net	3.7		—
Call options	Derivatives	221.8		200.7
Foreign exchange contracts	Receivables, net	0.1		—
Total asset derivatives		$	227.7	$	203.9

Liability Derivatives	Classification	September 30, 2013		September 30, 2012
Derivatives designated as hedging instruments:
Commodity contracts	Accounts payable and other current liabilities	$	0.5	$	—
Foreign exchange forward agreements	Accounts payable and other current liabilities	4.6		3.1
Foreign exchange contracts	Other liabilities	0.1		—
Total liability derivatives designated as hedging instruments		5.2		3.1
Derivatives not designated as hedging instruments:
Commodity contracts	Other liabilities	1.9		—
FIA embedded derivative	Contractholder funds	1,544.4		1,550.8
Futures contracts	Other liabilities	1.0		0.9
Foreign exchange forward contracts	Accounts payable and other current liabilities	5.3		4.0
Foreign exchange forward contracts	Accounts payable and other current liabilities	—		2.9
Equity conversion feature of preferred stock	Equity conversion feature of preferred stock	330.8		232.0
Total liability derivatives		$	1,888.6	$	1,793.7

Pretax Impact of Derivative Instruments Designated as Cash Flow Hedges on Accompanying Condensed Consolidated Statements of Operations, and Within AOCI

The following table summarizes the pretax impact of derivative instruments designated as cash flow hedges on the accompanying Consolidated Statements of Operations, and within AOCI, for the years ended September 30, 2013, 2012 and 2011:

Derivatives in Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)									Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)									Amount of Gain ( Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)								Classification
Year ended September 30,	2013			2012			2011			2013			2012			2011			2013		2012		2011
Commodity contracts	$	(2.6	)	$	1.6		$	(1.7	)	$	(0.6	)	$	(1.1	)	$	2.6		$	—	$	0.1	$	(0.1	)		Consumer products cost of goods sold
Interest rate contracts	—			—			(0.1		)	—			(0.9		)	(3.3		)	—		—		(0.2		)	(a)	Interest expense
Foreign exchange contracts	0.9			0.1			(0.5		)	0.9			(0.5		)	(0.1		)	—		—		—				Net consumer products sales
Foreign exchange contracts	(0.3		)	(3.5		)	(3.7		)	0.6			(0.6		)	(12.4		)	—		—		—				Consumer products cost of goods sold
Total	$	(2.0	)	$	(1.8	)	$	(6.0	)	$	0.9		$	(3.1	)	$	(13.2	)	$	—	$	0.1	$	(0.3	)

(a) Reclassified from AOCI associated with the prepayment of portions of Spectrum Brands’ senior credit facility (see Note 16).

Summary of Gain (Loss) Recognized in Income on Derivatives

During the years ended September 30, 2013, 2012 and 2011, the Company recognized the following gains (losses) on these derivatives:

Derivatives Not Designated as Hedging Instruments	Gain (Loss) Recognized in Income on Derivatives									Classification
	Year ended September 30,
	2013			2012			2011
Equity conversion feature of preferred stock	$	(101.6	)	$	(156.6	)	$	27.9		(Loss) gain from the change in the fair value of the equity conversion feature of preferred stock
Oil and natural gas commodity contracts	(1.3		)	—			—			Other expense, net
Commodity contracts	(0.1		)	—			—			Consumer products cost of goods sold
Foreign exchange contracts	(3.6		)	5.9			(5.1		)	Other expense, net
Call options	151.6			100.0			(142.7		)	Net investment gains (losses)
Futures contracts	17.5			46.0			(28.1		)	Net investment gains (losses)
Available-for-sale embedded derivatives	—			0.4			—			Net investment income
FIA embedded derivatives	(6.4		)	154.5			(70.0		)	Benefits and other changes in policy reserves
Total	$	56.1		$	150.2		$	(218.0	)

Volumes and Fair Value of Oil and Natural Gas Derivative Financial Instruments

The following table presents the volumes and fair value of the EXCO/HGI JV’s oil and natural gas derivative financial instruments as of September 30, 2013 (presented on a calendar-year basis):

(in millions, except volumes and prices)	Volume Mmmbtus/Mbbls	Weighted average strike price per Mmbtu/Bbl		September 30, 2013
Natural gas:
Swaps:
Remainder of 2013	5,141.0	$	3.72	$	0.6
2014	10,877.0	4.14		3.0
Total natural gas	16,018.0			$	3.6
Oil:
Swaps:
Remainder of 2013	103.0	$	94.05	$	(0.8	)
2014	272.0	91.87		(0.9		)
Total oil	375.0			$	(1.7	)
Total oil and natural gas derivatives				$	1.9

FGL's Exposure to Credit Loss on Call Options Held

Information regarding FGH’s exposure to credit loss on the call options it holds is presented in the following table:

		September 30, 2013								September 30, 2012
Counterparty	Credit Rating (Moody’s/S&P)	Notional Amount		Fair Value		Collateral		Net Credit Risk		Notional Amount		Fair Value		Collateral		Net Credit Risk
Merrill Lynch	NA/A	$	2,037.8	$	70.7	$	—	70.7		$	1,884.0	$	64.1	$	—	$	64.1
Deutsche Bank	A2/A	1,620.4		51.7		23.0		28.7		1,816.5		61.7		—		61.7
Morgan Stanley	Baa1/A	2,264.1		75.7		49.0		26.7		1,634.7		51.6		—		51.6
Royal Bank of Scotland	A3/A	364.3		20.3		—		20.3		353.9		19.6		—		19.6
Barclay's Bank	A2/A	120.8		3.4		—		3.4		131.3		3.1		—		3.1
Credit Suisse	A2/A-	—		—		—		—		10.0		0.6		—		0.6
		$	6,407.4	$	221.8	$	72.0	$	149.8	$	5,830.4	$	200.7	$	—	$	200.7