Divestitures Divestitures - Schedule of assets and liabilities held for sale (Tables)

3 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Groups, Including Discontinued Operations [Table Text Block]

The following table summarizes the major categories of assets and liabilities of FGL classified as held for sale in the accompanying Condensed Consolidated Balance Sheets at December 31, 2016 and September 30, 2016:

	December 31, 2016			September 30, 2016
Assets
Investments, including loans and receivables from affiliates	$	21,192.8		$	21,140.9
Cash and cash equivalents	631.9			863.9
Accrued investment income	200.7			213.7
Reinsurance recoverable	3,443.7			3,463.9
Deferred tax assets	47.2			—
Properties, plant and equipment, net	19.7			18.5
Deferred acquisition costs and value of business acquired, net	1,270.9			1,065.5
Other assets	213.0			335.1
Write-down of assets of business held for sale to fair value less cost to sell	(218.3		)	(362.8		)
Total assets of business held for sale	$	26,801.6		$	26,738.7
Liabilities
Insurance reserves	$	24,134.3		$	23,944.6
Debt	400.0			398.8
Accounts payable and other current liabilities	39.6			57.0
Deferred tax liabilities	—			9.9
Other liabilities	626.6			689.9
Total liabilities of business held for sale	$	25,200.5		$	25,100.2

The following table summarizes the components of “Net income (loss) from discontinued operations” in the accompanying Condensed Consolidated Statements of Operations for the three months ended December 31, 2016 and 2015:

	Three months ended December 31,
	2016			2015
Revenues:
Insurance premiums	$	11.1		$	15.4
Net investment income	239.8			222.2
Net investment gains	56.3			66.2
Insurance and investment product fees and other	38.3			28.8
Total revenues	345.5			332.6
Operating costs and expenses:
Benefits and other changes in policy reserves	19.9			180.9
Selling, acquisition, operating and general expenses	28.3			28.2
Amortization of intangibles	120.0			33.5
Total operating costs and expenses	168.2			242.6
Operating income	177.3			90.0
Interest expense	(6.1		)	(5.9		)
Write-up of assets of business held for sale to fair value less cost to sell	144.5			—
Net income before income taxes	315.7			84.1
Income tax expense (a)	56.9			119.7
Net income (loss)	258.8			(35.6		)
Less: net income attributable to noncontrolling interest	21.1			9.4
Net income (loss) - attributable to controlling interest	$	237.7		$	(45.0	)

(a) 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 at December 31, 2015, which was a result of classifying the Company’s ownership interest 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.

The following table summarizes the components of “Income (loss) from discontinued operations, net of tax” in the accompanying Condensed Consolidated Statements of Operations for the three months ended December 31, 2016 and 2015:

	Three months ended December 31,
	2016		2015
Income (loss) from discontinued operations, net of tax attributable to FGL	$	258.8	$	(35.6	)
Income from discontinued operations, net of tax attributable to Compass Production Partners, LP (“Compass”)	—		33.1
Income (loss) from discontinued operations, net of tax	$	258.8	$	(2.5	)

Below is a summary of the impact of such intercompany balances in the accompanying Condensed Consolidated Balance Sheets:

	December 31, 2016		September 30, 2016
Assets
Funds withheld receivable	$	939.5	$	978.8
Other assets	15.0		15.1
Assets of business held for sale	1,349.0		1,375.5
Total assets	$	2,303.5	$	2,369.4
Liabilities
Insurance reserves	$	1,087.5	$	1,119.5
Debt	58.8		63.0
Liabilities of business held for sale	1,157.2		1,186.9
Total liabilities	$	2,303.5	$	2,369.4

The following table summarizes the components of “Net income (loss) from discontinued operations” attributable to Compass in the accompanying Condensed Consolidated Statements of Operations for the three months ended December 31, 2015.

	Three months ended December 31, 2015
Revenues:
Oil and natural gas revenues	$	16.8
Operating costs and expenses:
Oil and natural gas direct operating costs	17.1
Selling, acquisition, operating and general expenses	9.8
Impairments	54.4
Total operating costs and expenses	81.3
Operating loss	(64.5		)
Interest expense	(2.3		)
Gain on sale of oil and gas properties	105.6
Other income, net	1.8
Net income before income taxes	40.6
Income tax expense	7.5
Net income	$	33.1