XML 50 R38.htm IDEA: XBRL DOCUMENT v3.3.1.900
Divestitures Schedule of components of net income (loss) from discontinued operations (Details) - USD ($)
$ in Millions
3 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Sep. 30, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Funds Withheld Receivable $ 1,664.0   $ 1,710.1
Other assets 143.6   134.3
Disposal Group, Including Discontinued Operation, Assets, Current 25,097.5   24,984.5
Assets 35,032.8   35,034.0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest (35.6) $ 17.0  
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent (35.6) 17.0  
Insurance reserves 1,827.1   1,856.0
Debt 6,285.4   6,310.5 [1],[2]
Accounts payable and other current liabilities 854.1   1,095.6
Other liabilities 72.7   95.5
Disposal Group, Including Discontinued Operation, Liabilities, Current 23,630.8   23,420.9
Liabilities 33,659.8   33,445.9
FGL [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Revenue 332.6 298.3  
Disposal Group, Including Discontinued Operation, Benefits and other changes in policy reserves 180.9 223.7  
Disposal Group, Including Discontinued Operation, General and Administrative Expense 28.2 29.2  
Disposal Group, Including Discontinued Operation, Impairments 0.0 0.5  
Disposal Group, Including Discontinued Operation, Depreciation and Amortization 33.5 11.3  
Disposal Group, Including Discontinued Operation, Operating Expense 242.6 264.7  
Disposal Group, Including Discontinued Operation, Operating Income (Loss) 90.0 33.6  
Disposal Group, Including Discontinued Operation, Interest Expense 5.9 5.9  
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax 84.1 27.7  
Discontinued Operation, Tax Effect of Discontinued Operation [3] 119.7 10.7  
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest (35.6) 17.0  
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest 9.4 3.3  
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent (45.0) 13.7  
FGL [Member] | Insurance Premiums [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Revenue 15.4 11.6  
FGL [Member] | Investment Income [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Revenue [4] 222.2 208.4  
FGL [Member] | Gain (Loss) on Investments [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Revenue 66.2 58.5  
FGL [Member] | Insurance and investment product fees [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Revenue 28.8 $ 19.8  
Majority-Owned Subsidiary, Unconsolidated [Member] | FGL [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Funds Withheld Receivable 1,007.1   1,058.0
Other assets 15.9   15.9
Disposal Group, Including Discontinued Operation, Assets, Current 1,694.7   1,769.8
Assets 2,717.7   2,843.7
Insurance reserves 1,198.0   1,226.8
Debt 249.0   330.7 [1],[2]
Accounts payable and other current liabilities     1.6
Other liabilities 12.4   11.0
Disposal Group, Including Discontinued Operation, Liabilities, Current 1,258.3   1,273.6
Liabilities $ 2,717.7   $ 2,843.7
[1] The carrying amounts of cash and cash equivalents, trade receivables, accounts payable and accrued investment income approximate fair value due to their short duration and, accordingly, they are not presented in the tables above.
[2] The fair values of debt set forth above are generally based on quoted or observed market prices.
[3] (b) Included in the income tax expense for the three months ended December 31, 2015 was a $90.9 net income tax expense related to the establishment of a deferred tax liability of $338.6 as a result of classifying our investment in FGL as held for sale, partially offset by a $247.7 reduction of valuation allowance on HRG’s net operating and capital loss carryforwards expected to offset the FGL taxable gain.
[4] (a) Included in the net investment income attributable to FGL is interest income of $1.1 and $1.7 for the three months ended December 31, 2015 and 2014, respectively, on debt instruments issued by entities consolidated by HRG as they will continue to exist following the closing of the FGL Merger. The corresponding interest expense is recorded in continuing operations on the Condensed Consolidated Statements of Operations.