INNOVATE (VATE) 10-Q/A 15 Mar 16 2014 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2014	Jul. 31, 2014
Document And Entity Information [Abstract]
Document Type	10-Q/A
Amendment Flag	true
Amendment Description	Amendment No. 1
Document Period End Date	Jun. 30, 2014
Document Fiscal Year Focus	2,014
Document Fiscal Period Focus	Q2
Entity Registrant Name	HC2 Holdings, Inc.
Entity Central Index Key	1,006,837
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		23,316,690

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]
NET REVENUE	$ 96,586	$ 58,621	$ 139,940	$ 117,410
OPERATING EXPENSES
Cost of revenue	82,860	55,436	123,967	110,952
Selling, general and administrative	13,496	14,677	19,700	23,456
Depreciation and amortization	344	0	554	1
(Gain) loss on sale or disposal of assets	2	(1)	(78)	(6)
Total operating expenses	96,702	70,112	144,143	134,403
LOSS FROM OPERATIONS	(116)	(11,491)	(4,203)	(16,993)
INTEREST EXPENSE	(1,012)	(5)	(1,013)	(5)
ACCRETION ON DEBT DISCOUNT	(576)	0	(576)	0
GAIN FROM CONTINGENT VALUE RIGHTS VALUATION	0	14,792	0	14,904
INTEREST INCOME AND OTHER EXPENSE, net	544	(54)	495	(108)
FOREIGN CURRENCY TRANSACTION GAIN (LOSS)	437	(215)	403	(251)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(723)	3,027	(4,894)	(2,453)
INCOME TAX EXPENSE	(2,154)	(107)	(2,163)	(218)
INCOME (LOSS) FROM CONTINUING OPERATIONS	(2,877)	2,920	(7,057)	(2,671)
Income (loss) from discontinued operations	27	(607)	44	1,772
Gain (loss) from sale of discontinued operations	0	135,045	(784)	135,045
NET INCOME (LOSS)	(2,850)	137,358	(7,797)	134,146
Less: Net (income) loss attributable to noncontrolling interest	(1,059)	0	(1,059)	0
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC.	(3,909)	137,358	(8,856)	134,146
Less: Preferred stock dividends and accretion	200	0	200	0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	$ (4,109)	$ 137,358	$ (9,056)	$ 134,146
BASIC INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	$ (0.24)	$ 0.21	$ (0.52)	$ (0.19)
Income (loss) from discontinued operations (in USD per share)	0	(0.04)	0	0.12
Gain (loss) from sale of discontinued operations (in USD per share)	0	9.66	(0.05)	9.69
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	(0.24)	9.83	(0.57)	9.62
DILUTED INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	(0.24)	0.20	(0.52)	(0.19)
Income (loss) from discontinued operations (in USD per share)	0	(0.04)	0	0.12
Gain (loss) from sale of discontinued operations (in USD per share)	0	9.35	(0.05)	9.69
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	$ (0.24)	$ 9.51	$ (0.57)	$ 9.62
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in USD per share)	16,905	13,972	15,780	13,941
Diluted (in USD per share)	16,905	14,436	15,780	13,941
AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF HC2 HOLDINGS, INC.
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.	$ (4,136)	$ 2,920	$ (8,316)	$ (2,671)
Income (loss) from discontinued operations	27	(607)	44	1,772
Gain (loss) from sale of discontinued operations	0	135,045	(784)	135,045
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	$ (4,109)	$ 137,358	$ (9,056)	$ 134,146

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Loss) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ (2,850)	$ 137,358	$ (7,797)	$ 134,146
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	238	(3,240)	(136)	(5,560)
Less: Comprehensive (income) attributable to the noncontrolling interest	(1,059)	0	(1,059)	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO HC2 HOLDINGS, INC.	$ (3,671)	$ 134,118	$ (8,992)	$ 128,586

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
CURRENT ASSETS:
Cash and cash equivalents	$ 40,831	$ 8,997	$ 171,178	$ 23,197
Investments	757	0
Accounts receivable (net of allowance for doubtful accounts receivable of $2,089 and $2,476 at June 30, 2014 and December 31, 2013, respectively)	138,043	18,980
Costs and recognized earnings in excess of billings on uncompleted contracts	25,737	0
Inventories	16,990	0
Prepaid expenses and other current assets	37,618	40,594
Assets held for sale	9,251	6,329
Total current assets	269,227	74,900
PROPERTY, PLANT AND EQUIPMENT – Net	83,671	2,962
GOODWILL	27,990	3,378
OTHER INTANGIBLE ASSETS – Net	4,615	0
OTHER ASSETS	6,568	6,440
TOTAL ASSETS	392,071	87,680
CURRENT LIABILITIES:
Accounts payable	51,247	6,964
Accrued interconnection costs	9,815	12,456
Accrued payroll and employee benefits	13,366	1,854
Accrued expenses and other current liabilities	17,715	5,550
Billings in excess of costs and recognized earnings on uncompleted contracts	58,218	0
Accrued income taxes	0	53
Accrued interest	712	0
Current portion of long-term debt	36,781	0
Liabilities held for sale	4,259	4,823
Total current liabilities	192,113	31,700
LONG-TERM DEBT	49,170	0
DEFERRED TAX LIABILITY	7,799	0
OTHER LIABILITIES	1,028	1,571
Total liabilities	$ 250,110	$ 33,271
COMMITMENTS AND CONTINGENCIES
TEMPORARY EQUITY
Preferred stock, $0.001 par value – 20,000,000 shares authorized; 30,000 and 0 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	$ 29,075	$ 0
Total temporary equity	29,075	0
STOCKHOLDERS’ EQUITY:
Common stock, $0.001 par value – 80,000,000 shares authorized; 20,543,595 and 14,257,545 shares issued and 20,511,969 and 14,225,919 shares outstanding at June 30, 2014 and December 31, 2013, respectively	21	14
Additional paid-in capital	120,388	98,598
Retained earnings (accumulated deficit)	(38,629)	(29,773)
Treasury stock, at cost – 31,626 shares at June 30, 2014 and December 31, 2013, respectively	(378)	(378)
Accumulated other comprehensive loss	(14,188)	(14,052)
Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest	67,214	54,409
Non-controlling interest	45,672	0
Total permanent equity	112,886	54,409
TOTAL LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY	$ 392,071	$ 87,680

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts receivable	$ 2,089	$ 2,476
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	30,000	30,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	20,543,595	14,257,545
Common stock, shares outstanding	20,511,969	14,225,919
Treasury stock, shares	31,626	31,626

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Permanent Equity (UNAUDITED) - 6 months ended Jun. 30, 2014 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Non-controlling Interest [Member]
Beginning Balance at Dec. 31, 2013	$ 54,409	$ 14	$ 98,598	$ (378)	$ (29,773)	$ (14,052)
Beginning Balance, Shares at Dec. 31, 2013		14,226
Share-based compensation expense	1,670
Share-based compensation expense	1,670
Proceeds from the exercise of warrants and stock options	14,368	$ 5	14,363
Proceeds from the exercise of warrants and stock options, Shares		4,786
Taxes paid in lieu of shares issued for share-based compensation	(41)		(41)
Preferred stock dividend and accretion	$ (200)		$ (200)
Issuance of common stock, Shares	6,000	2	5,998
Issuance of common stock, Net		$ 1,500
Noncontrolling interest in acquired company	$ 44,613						$ 44,613
NET INCOME (LOSS)	(7,797)				(8,856)		1,059
Foreign currency translation adjustment	(136)					(136)
Ending Balance (As Restated) at Jun. 30, 2014	$ 112,886	$ 21	$ 120,388	$ (378)	$ (38,629)	$ (14,188)	$ 45,672
Ending Balance, Shares (As Restated) at Jun. 30, 2014		20,512

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME (LOSS)	$ (7,797)	$ 134,146
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for doubtful accounts receivable	(198)	1,325
Share-based compensation expense	1,670	1,479
Depreciation and amortization	1,038	11,947
Amortization of deferred financing costs	262	0
(Gain) loss on sale or disposal of assets	1,315	(135,051)
(Gain) loss on sale of investments	(437)	0
Accretion of debt discount	(576)	(64)
Change in fair value of Contingent Value Rights	0	(14,904)
Deferred income taxes	209	(156)
Unrealized foreign currency transaction (gain) loss on intercompany and foreign debt	(125)	(134)
Changes in assets and liabilities, net of acquisitions:
(Increase) decrease in accounts receivable	11,936	(4,700)
(Increase) decrease in costs and recognized earnings in excess of billings on uncompleted contracts	1,389	0
(Increase) decrease in inventories	(2,503)	0
(Increase) decrease in prepaid expenses and other current assets	4,162	(154)
(Increase) decrease in other assets	929	2,195
Increase (decrease) in accounts payable	6,304	(968)
Increase (decrease) in accrued interconnection costs	(2,896)	(737)
Increase (decrease) in accrued payroll and employee benefits	(472)	0
Increase (decrease) in accrued expenses, other current liabilities and other liabilities, net	(1,069)	(4,441)
Increase (decrease) in billings in excess of costs and recognized earnings on uncompleted contracts	(7,766)	0
Increase (decrease) in accrued income taxes	(1,291)	230
Increase (decrease) in accrued interest	634	908
Net cash provided by (used in) operating activities	5,870	(8,951)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(663)	(9,955)
Sale of property and equipment and other assets	80	6
Sale of investments, net	423	0
Cash from disposition of business, net of cash disposed	3,200	169,569
Cash paid for business acquisitions, net of cash acquired	(85,627)	(397)
Purchase of noncontrolling interest	(5,000)	0
Decrease in restricted cash	0	222
Net cash (used in) provided by investing activities	(87,587)	159,445
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term obligations	123,412	0
Principal payments on long-term obligations	(57,703)	(123)
Payment of fees on restructuring of debt	(812)	0
Proceeds from sale of common stock, net	6,000	0
Proceeds from sale of preferred stock, net	29,075	0
Proceeds from the exercise of warrants and stock options	14,368	199
Payment of dividend equivalents	(551)	(828)
Taxes paid in lieu of shares issued for share-based compensation	(41)	(837)
Net cash provided by (used) in financing activities	113,748	(1,589)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(197)	(924)
NET CHANGE IN CASH AND CASH EQUIVALENTS	31,834	147,981
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	8,997	23,197
CASH AND CASH EQUIVALENTS, END OF PERIOD	40,831	171,178
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	194	5,596
Cash paid for taxes	2,311	201
Non-cash investing and financing activities:
Capital lease additions	$ 0	$ 148

Organization and Business

Organization and Business	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	ORGANIZATION AND BUSINESS On April 9, 2014, we changed our name from PTGi Holding, Inc. to HC2 Holdings, Inc. (“HC2” and, together with its subsidiaries, the “Company”, “we” and “our”). The name change was effected pursuant to Section 253 of the General Corporation Law of the State of Delaware by the merger of our wholly owned subsidiary, HC2 Name Change, Inc., into us. In connection with the name change, we changed the ticker symbol of our common stock from “PTGI” to “HCHC”. On May 29, 2014 , the Company completed the acquisition of 2.5 million shares of common stock of Schuff International, Inc. (“Schuff”), a steel fabrication and erection company, and negotiated an agreement to purchase an additional 198,411 shares, representing an approximately 65% interest in Schuff. The aggregate consideration for the shares of Schuff acquired was approximately $85 million , which was funded using the net proceeds from (i) the issuance of $30 million of Series A Convertible Participating Preferred Stock of HC2 (the “Preferred Stock”) and $6 million of common stock of HC2, and (ii) the entry into a senior secured credit facility providing for an eighteen month term loan of $80 million , each of which was also completed on May 29, 2014. Schuff repurchased a portion of its outstanding common stock in June 2014 , which had the effect of increasing the Company’s ownership interest to 70% . Schuff and its wholly-owned subsidiaries are primarily steel fabrication and erection contractors with headquarters in Phoenix, Arizona and operations in Arizona, Florida, Georgia, Texas, Kansas and California. Schuff’s construction projects are primarily in the aforementioned states. In addition, Schuff has construction projects in select international markets, primarily Panama. Schuff has a 49% interest in Schuff Hopsa Engineering, Inc. (“SHE”), a Panamanian joint venture with Empresas Hopsa, S.A., that provides steel fabrication services. Schuff controls the operations of SHE, as provided in the operating agreement. Therefore, the assets, liabilities, revenues and expenses of SHE are included in the consolidated financial statements of Schuff. Empresas Hopsa, S.A.’s 51% interest in SHE is presented as a non-controlling interest component of total equity. We have historically operated a network of direct routes and provided premium voice communication services for national telecom operators, mobile operators, wholesale carriers, prepaid operators, Voice over Internet Protocol (“VoIP”) service operators and Internet service providers (“ISPs”). The Company has provided telecommunications services from its North America Telecom and International Carrier Services (“ICS”) business units. In the second quarter of 2013 , the Company entered into a definitive purchase agreement to sell its North America Telecom business and sought shareholder approval of such transaction. On July 31, 2013, the Company completed the initial closing of the sale of substantially all of its North America Telecom business. The sale of PTI was also contemplated as part of this transaction, and subject to regulatory approval. On July 31, 2014, having received the necessary regulatory approvals for PTI, we completed the divestiture of the remainder of our North America Telecom business. See Note 19—“Subsequent Events.” During 2013 , we also provided certain growth services through our BLACKIRON Data business unit, which operated our pure data center operations in Canada. On April 17, 2013, we consummated the divestiture of BLACKIRON Data. The Company currently has three reportable operating segments based on management’s organization of the enterprise—Telecommunications which includes ICS, Life Sciences which includes Genovel Orthopedics, Inc. (“Genovel”) involved with the development of products to treat early osteoarthritis of the knee, and Manufacturing which includes Schuff. HC2 was formed as a corporation under the laws of Delaware in 1994 and operates as a holding company of operating subsidiaries primarily in the United States and the United Kingdom. Restatement of Consolidated Financial Statements On February 21, 2016, the Company determined that it needed to restate previously reported financial statements for the year ended December 31, 2014 and the fiscal quarters ended June 30, 2014, September 30, 2014, March 31, 2015, June 30, 2015 and September 30, 2015 to correct errors resulting from material weaknesses that the Company identified in its internal control over accounting for income taxes, valuation of a business acquisition and the application of generally accepted accounting principles (GAAP) to complex and/or non-routine transactions. In particular, the Company is restating its Condensed Consolidated Financial Statements for the three and six months ended June 30, 2014 to correct the improper recording of items related to the purchase of Schuff International, Inc. ("Schuff") as separate transactions. In addition, we determined we incorrectly valued our share-based compensation expense for the three and six months ended June 30, 2014. Options were entitled to be received between May and September of 2014, but which were actually issued on October 28, 2014. The Company incorrectly recorded the fair value of the options using the October 28th issuance date rather than the earlier measurement date under US GAAP. Further, the Company corrected the Condensed Consolidated Statement of Cash Flows to reclassify funds released from escrow which related to the sale of business units from operating activities to investing activities. As a result of the errors described above, the Company concluded that the financial statements for the three and six months ended June 30, 2014 were materially misstated. The condensed consolidated statement of operations, condensed consolidated balance sheets, consolidated statement of stockholders' equity and consolidated statement of cash flows, as well as the corresponding Notes to the Condensed Consolidated Financial Statements, have been restated to reflect the correction of the aforementioned errors. The following tables provide a reconciliation of the amounts previously reported to the restated amounts for the quarter ended June 30, 2014: HC2 HOLDINGS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended June 30, 2014 Six Months Ended June 30, 2014 As Reported Adjustments As Restated As Reported Adjustments As Restated NET REVENUE $ 96,586 $ — $ 96,586 $ 139,940 $ — $ 139,940 OPERATING EXPENSES Cost of revenue 82,860 — 82,860 123,967 — 123,967 Selling, general and administrative 14,032 (536 ) 13,496 20,236 (536 ) 19,700 Depreciation and amortization 344 — 344 554 — 554 (Gain) loss on sale or disposal of assets 447 (445 ) 2 367 (445 ) (78 ) Total operating expenses 97,683 (981 ) 96,702 145,124 (981 ) 144,143 LOSS FROM OPERATIONS (1,097 ) 981 (116 ) (5,184 ) 981 (4,203 ) INTEREST EXPENSE (1,012 ) — (1,012 ) (1,013 ) — (1,013 ) ACCRETION ON DEBT DISCOUNT (576 ) — (576 ) (576 ) — (576 ) GAIN FROM CONTINGENT VALUE RIGHTS VALUATION — — — — — — INTEREST INCOME AND OTHER EXPENSE, net 1,665 (1,121 ) 544 1,616 (1,121 ) 495 FOREIGN CURRENCY TRANSACTION GAIN (LOSS) 437 — 437 403 — 403 INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (583 ) (140 ) (723 ) (4,754 ) (140 ) (4,894 ) INCOME TAX EXPENSE (1,946 ) (208 ) (2,154 ) (1,955 ) (208 ) (2,163 ) INCOME (LOSS) FROM CONTINUING OPERATIONS (2,529 ) (348 ) (2,877 ) (6,709 ) (348 ) (7,057 ) INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax 27 — 27 44 — 44 GAIN (LOSS) FROM SALE OF DISCONTINUED OPERATIONS, net of tax — — — (784 ) — (784 ) NET INCOME (LOSS) (2,502 ) (348 ) (2,850 ) (7,449 ) (348 ) (7,797 ) Less: Net (income) loss attributable to noncontrolling interest (1,059 ) — (1,059 ) (1,059 ) — (1,059 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (3,561 ) (348 ) (3,909 ) (8,508 ) (348 ) (8,856 ) Less: Preferred stock dividends and accretion 200 — 200 200 — 200 NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS $ (3,761 ) $ (348 ) $ (4,109 ) $ (8,708 ) $ (348 ) $ (9,056 ) BASIC INCOME (LOSS) PER COMMON SHARE: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.22 ) $ (0.02 ) $ (0.24 ) $ (0.50 ) $ (0.02 ) $ (0.52 ) Income (loss) from discontinued operations — — — — — — Gain (loss) from sale of discontinued operations — — — (0.05 ) — (0.05 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (0.22 ) $ (0.02 ) $ (0.24 ) $ (0.55 ) $ (0.02 ) $ (0.57 ) DILUTED INCOME (LOSS) PER COMMON SHARE: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.22 ) $ (0.02 ) $ (0.24 ) $ (0.50 ) $ (0.02 ) $ (0.52 ) Income (loss) from discontinued operations — — — — — — Gain (loss) from sale of discontinued operations — — — (0.05 ) — (0.05 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (0.22 ) $ (0.02 ) $ (0.24 ) $ (0.55 ) $ (0.02 ) $ (0.57 ) WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic 16,905 — 16,905 15,780 — 15,780 Diluted 16,905 — 16,905 15,780 — 15,780 AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF HC2 HOLDINGS, INC. Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (3,788 ) $ (348 ) $ (4,136 ) $ (7,968 ) $ (348 ) $ (8,316 ) Income (loss) from discontinued operations 27 — 27 44 — 44 Gain (loss) from sale of discontinued operations — — — (784 ) — (784 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (3,761 ) $ (348 ) $ (4,109 ) $ (8,708 ) $ (348 ) $ (9,056 ) HC2 HOLDINGS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in thousands) Three Months Ended June 30, 2014 Six Months Ended June 30, 2014 As Reported Adjustments As Restated As Reported Adjustments As Restated NET INCOME (LOSS) $ (2,502 ) $ (348 ) $ (2,850 ) $ (7,449 ) $ (348 ) $ (7,797 ) OTHER COMPREHENSIVE INCOME (LOSS) Foreign currency translation adjustment 238 — 238 (136 ) — (136 ) Less: Comprehensive (income) attributable to the noncontrolling interest (1,059 ) — (1,059 ) (1,059 ) — (1,059 ) COMPREHENSIVE INCOME ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (3,323 ) $ (348 ) $ (3,671 ) $ (8,644 ) $ (348 ) $ (8,992 ) HC2 HOLDING, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) As of June 30, 2014 As Reported Adjustments As Restated ASSETS CURRENT ASSETS: Cash and cash equivalents $ 40,831 $ — $ 40,831 Investments 757 — 757 Accounts receivable (net of allowance for doubtful accounts receivable of $2,089 and $2,476 at June 30, 2014 and December 31, 2013, respectively) 138,043 — 138,043 Costs and recognized earnings in excess of billings on uncompleted contracts 25,737 — 25,737 Inventories 16,990 — 16,990 Prepaid expenses and other current assets 37,826 (208 ) 37,618 Assets held for sale 9,251 — 9,251 Total current assets 269,435 (208 ) 269,227 PROPERTY, PLANT AND EQUIPMENT – Net 83,226 445 83,671 GOODWILL 27,911 79 27,990 OTHER INTANGIBLE ASSETS – Net 4,615 — 4,615 OTHER ASSETS 6,568 — 6,568 TOTAL ASSETS $ 391,755 $ 316 $ 392,071 LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $ 51,247 $ — $ 51,247 Accrued interconnection costs 9,815 — 9,815 Accrued payroll and employee benefits 13,366 — 13,366 Accrued expenses and other current liabilities 17,715 — 17,715 Billings in excess of costs and recognized earnings on uncompleted contracts 58,218 — 58,218 Accrued income taxes — — — Accrued interest 712 — 712 Current portion of long-term debt 36,781 — 36,781 Liabilities held for sale 4,259 — 4,259 Total current liabilities 192,113 — 192,113 LONG-TERM DEBT 49,170 — 49,170 DEFERRED TAX LIABILITY 7,799 — 7,799 OTHER LIABILITIES 1,028 — 1,028 Total liabilities 250,110 — 250,110 COMMITMENTS AND CONTINGENCIES (See Note 10) TEMPORARY EQUITY (See Note 13) Preferred stock, $0.001 par value – 20,000,000 shares authorized; 30,000 and 0 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively 29,075 — 29,075 Total temporary equity 29,075 — 29,075 STOCKHOLDERS’ EQUITY: Common stock, $0.001 par value – 80,000,000 shares authorized; 20,543,595 and 14,257,545 shares issued and 20,511,969 and 14,225,919 shares outstanding at June 30, 2014 and December 31, 2013, respectively 21 — 21 Additional paid-in capital 119,724 664 120,388 Retained earnings (accumulated deficit) (38,281 ) (348 ) (38,629 ) Treasury stock, at cost – 31,626 shares at June 30, 2014 and December 31, 2013, respectively (378 ) — (378 ) Accumulated other comprehensive loss (14,188 ) — (14,188 ) Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest 66,898 316 67,214 Non-controlling interest 45,672 — 45,672 Total permanent equity 112,570 316 112,886 TOTAL LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY $ 391,755 $ 316 $ 392,071 HC2 HOLDINGS, INC. CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY (in thousands) As of June 30, 2014 As Reported Adjustments As Restated Common Stock $ 21 $ — $ 21 Additional Paid-In Capital 119,724 664 120,388 Treasury Stock (378 ) — (378 ) Earnings (Accumulated Deficit) (38,281 ) (348 ) (38,629 ) Accumulated Other Comprehensive Income (Loss) (14,188 ) — (14,188 ) Noncontrolling Interest 45,672 — 45,672 Total Stockholders' Equity $ 112,570 $ 316 $ 112,886 HC2 HOLDINGS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Six Months Ended June 30, 2014 As Reported Adjustments As Restated CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (7,449 ) $ (348 ) $ (7,797 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Provision for doubtful accounts receivable (198 ) — (198 ) Share-based compensation expense 1,006 664 1,670 Depreciation and amortization 1,038 — 1,038 Amortization of deferred financing costs 262 — 262 (Gain) loss on sale or disposal of assets 1,760 (445 ) 1,315 (Gain) loss on sale of investments (437 ) — (437 ) Accretion of debt discount 576 — 576 Change in fair value of Contingent Value Rights — — — Deferred income taxes 1 208 209 Unrealized foreign currency transaction (gain) loss on intercompany and foreign debt (125 ) — (125 ) Changes in assets and liabilities, net of acquisitions: (Increase) decrease in accounts receivable 11,936 — 11,936 (Increase) decrease in costs and recognized earnings in excess of billings on uncompleted contracts 1,389 — 1,389 (Increase) decrease in inventories (2,503 ) — (2,503 ) (Increase) decrease in prepaid expenses and other current assets 6,241 (2,079 ) 4,162 (Increase) decrease in other assets 929 — 929 Increase (decrease) in accounts payable 6,304 — 6,304 Increase (decrease) in accrued interconnection costs (2,896 ) — (2,896 ) Increase (decrease) in accrued payroll and employee benefits 728 (1,200 ) (472 ) Increase (decrease) in accrued expenses, other current liabilities and other liabilities, net (1,069 ) — (1,069 ) Increase (decrease) in billings in excess of costs and recognized earnings on uncompleted contracts (7,766 ) — (7,766 ) Increase (decrease) in accrued income taxes (1,291 ) — (1,291 ) Increase (decrease) in accrued interest 634 — 634 Net cash provided by (used in) operating activities 9,070 (3,200 ) 5,870 CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property, plant and equipment (663 ) — (663 ) Sale of property and equipment and other assets 80 — 80 Sale of investments, net 423 — 423 Cash from disposition of business, net of cash disposed — 3,200 3,200 Cash paid for business acquisitions, net of cash acquired (85,627 ) — (85,627 ) Purchase of noncontrolling interest (5,000 ) — (5,000 ) Decrease in restricted cash — — — Net cash (used in) provided by investing activities (90,787 ) 3,200 (87,587 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from long-term obligations 123,412 — 123,412 Principal payments on long-term obligations (57,703 ) — (57,703 ) Payment of fees on restructuring of debt (812 ) — (812 ) Proceeds from sale of common stock, net 6,000 — 6,000 Proceeds from sale of preferred stock, net 29,075 — 29,075 Proceeds from the exercise of warrants and stock options 14,368 — 14,368 Payment of dividend equivalents (551 ) — (551 ) Taxes paid in lieu of shares issued for share-based compensation (41 ) — (41 ) Net cash provided by (used) in financing activities 113,748 — 113,748 EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (197 ) (197 ) NET CHANGE IN CASH AND CASH EQUIVALENTS 31,834 — 31,834 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 8,997 — 8,997 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 40,831 $ — $ 40,831 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest $ 194 $ — $ 194 Cash paid for taxes $ 2,311 $ — $ 2,311 Non-cash investing and financing activities: Capital lease additions $ — $ — $ —

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation —The accompanying unaudited Condensed Consolidated Financial Statements of HC2 have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial reporting and Securities and Exchange Commission (“SEC”) regulations. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such principles and regulations. In the opinion of management, the financial statements reflect all adjustments (all of which are of a normal and recurring nature), which are necessary to present fairly the financial position, results of operations, cash flows and comprehensive income (loss) for the interim periods. The results for the Company’s three and six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014 . The financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the Company’s most recently filed Annual Report on Form 10-K. Schuff uses a 4-4-5 week quarterly cycle ending on the Sunday closest to June 30 th . The second quarter of 2014 for Schuff ends on June 29, 2014. Principles of Consolidation —The Condensed Consolidated Financial Statements include the Company’s accounts, its wholly owned subsidiaries and all other subsidiaries over which the Company exerts control. All intercompany profits, transactions and balances have been eliminated in consolidation. The Company has a 70% interest in Schuff and an 80% interest in Genovel. The results of Schuff and Genovel are consolidated with the Company’s results based on guidance from the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 810, “Consolidation” (“ASC 810”). The remaining interest not owned by the Company is presented as a non-controlling interest component of total equity. Discontinued Operations —In the second quarter of 2013 , the Company sold its BLACKIRON Data segment and reiterated its June 2012 commitment to dispose of ICS. In addition, in the second quarter of 2013 , the Company entered into a definitive purchase agreement to sell its North America Telecom business and sought shareholder approval of such transaction. On July 31, 2013, the Company completed the initial closing of the sale of its North America Telecom business (see Note 17—“Discontinued Operations”). In conjunction with the initial closing of the sale of the North America Telecom business, the Company redeemed its outstanding debt on August 30, 2013. Because the debt was required to be repaid as a result of the sale of North America Telecom, the interest expense and loss on early extinguishment or restructuring of debt of PTGi International Holding, Inc. has been allocated to discontinued operations. In December 2013 , based on management’s assessment of the requirements under ASC No. 360, “Property, Plant and Equipment” (“ASC 360”), it was determined that ICS no longer met the criteria of a held for sale asset. On February 11, 2014, the Board of Directors officially ratified management’s December 2013 assessment, and reclassified ICS from held for sale to held and used, effective December 31, 2013 . The Company has applied retrospective adjustments for the three and six months ended June 30, 2013 to reflect the effects of the discontinued operations that occurred during 2013 . Accordingly, revenue, costs and expenses of the discontinued operations have been excluded from the respective captions in the condensed consolidated statements of operations. In addition, the Company has applied retrospective adjustments for the three and six months ended June 30, 2013 to reflect the Company’s decision to cease its sale process of ICS. Accordingly, revenue, costs and expenses of ICS are now included in the respective captions in the condensed consolidated statements of operations. The assets and liabilities of the remaining portion of North America Telecom, PTI, have been classified as held for sale assets and liabilities. The held for sale assets and liabilities were removed from the specific line items on the condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013 . See Note 17—“Discontinued Operations,” for further information regarding these transactions. Foreign Currency Transactions —Foreign currency transactions are transactions denominated in a currency other than a subsidiary’s functional currency. A change in the exchange rates between a subsidiary’s functional currency and the currency in which a transaction is denominated increases or decreases the expected amount of functional currency cash flows upon settlement of the transaction. That increase or decrease in expected functional currency cash flows is reported by the Company as a foreign currency transaction gain (loss). The primary component of the Company’s foreign currency transaction gain (loss) is due to agreements in place with certain subsidiaries in foreign countries regarding intercompany transactions. The Company anticipates repayment of these transactions in the foreseeable future, and recognizes the realized and unrealized gains or losses on these transactions that result from foreign currency changes in the period in which they occur as foreign currency transaction gain (loss). Foreign Currency Translation —The assets and liabilities of the Company’s foreign subsidiaries are translated at the exchange rates in effect on the reporting date. Income and expenses are translated at the average exchange rate during the period. The net effect of such translation gains and losses are reflected within accumulated other comprehensive income (loss) in the stockholders’ equity section of the condensed consolidated balance sheets. Accounts Receivable —Accounts receivable is stated at amounts due from customers net of an allowance for doubtful accounts. Our allowance for doubtful accounts considers historical experience, the age of certain receivable balances, credit history, current economic conditions and other factors that may affect the counterparty’s ability to pay. Inventories —Inventories, primarily steel components, are stated at the lower of cost or market under the first-in, first-out method. Investments —Investments in non-wholly-owned companies are generally consolidated or accounted for under the equity method of accounting when the Company has a 20% to 50% ownership interest or exercises significant influence over the venture. If the Company’s interest exceeds 50% , or if the Company has the power to direct the economic activities of the entity and the obligation to absorb losses, the results of the non-wholly-owned company are consolidated herein. All other investments are generally accounted for under the cost method. Deferred Financing Costs —The Company capitalizes certain expenses incurred in connection with its long-term debt and line of credit obligations and amortizes them over the term of the respective debt agreement. The amortization expense of the deferred financing costs is included in interest expense on the condensed consolidated statements of operations. If the Company redeems portions of its long-term debt prior to the maturity date, deferred financing costs are charged to expense on a pro rata basis and is included in loss on early extinguishment or restructuring of debt on the condensed consolidated statements of operations. Property, Plant and Equipment —Property, plant and equipment are stated at cost less accumulated depreciation, which is provided on the straight-line method over the estimated useful lives of the assets. Cost includes major expenditures for improvements and replacements which extend useful lives or increase capacity of the assets as well as expenditures necessary to place assets into readiness for use. Expenditures for maintenance and repairs are expensed as incurred. Depreciation is determined on a straight-line basis over the estimated useful lives of the assets, which range from 5 to 40 years for buildings and improvements and 3 to 15 years for machinery and equipment. Leasehold improvements are amortized over the lives of the leases or estimated useful lives of the assets, whichever is shorter. Costs for internal use software that are incurred in the preliminary project stage and in the post-implementation stage are expensed as incurred. Costs incurred during the application development stage are capitalized and amortized over the estimated useful life of the software. When assets are sold or otherwise retired, the costs and accumulated depreciation are removed from the books and the resulting gain or loss is included in operating results. Property, plant and equipment that have been included as part of the assets held for sale are no longer depreciated from the time that they are classified as such. The Company periodically evaluates the carrying value of its property, plant and equipment based upon the estimated cash flows to be generated by the related assets. If impairment is indicated, a loss is recognized. Goodwill and Other Intangible Assets —Under ASC No. 350, “Intangibles—Goodwill and Other” (“ASC 350”), goodwill and indefinite lived intangible assets are not amortized but are reviewed annually for impairment, or more frequently, if impairment indicators arise. Intangible assets that have finite lives are amortized over their estimated useful lives and are subject to the provisions of ASC 360. Goodwill impairment is tested at least annually (October 1 st ) or when factors indicate potential impairment using a two-step process that begins with an estimation of the fair value of each reporting unit. Step 1 is a screen for potential impairment pursuant to which the estimated fair value of each reporting unit is compared to its carrying value. The Company estimates the fair values of each reporting unit by an estimation of the discounted cash flows of each of the reporting units based on projected earnings in the future (the income approach). If there is a deficiency (the estimated fair value of a reporting unit is less than its carrying value), a Step 2 test is required. Step 2 measures the amount of impairment loss, if any, by comparing the implied fair value of the reporting unit’s goodwill with its carrying amount. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination is determined; i.e., through an allocation of the fair value of a reporting unit to all of the assets and liabilities of that unit as if the reporting unit had been acquired in a business combination. If the carrying amount of the reporting unit goodwill exceeds the implied fair value of that goodwill, an impairment loss shall be recognized in an amount equal to that excess. The Company also may utilize the provisions of Accounting Standards Update (“ASU”) No. 2011-8, “Testing Goodwill for Impairment” (“ASU 2011-8”), which allows the Company to use qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Subsequent to classifying ICS as a discontinued operation in the second quarter of 2012 and its goodwill being classified as a held for sale asset, the reporting units were Canada and US. Subsequent to the sale of North America Telecom (which included the Canada reporting unit) in the third quarter of 2013, the Company had no goodwill attributable to the remaining US reporting unit. The US reporting unit goodwill was attributable to PTI, the unsold portion of North America Telecom, and was included in assets held for sale. As a result of the decision to cease the sale process of ICS as of December 31, 2013 , ICS became a reporting unit and its goodwill was reclassified as a held and used asset. With the acquisition of Schuff in May 2014, Schuff became a reporting unit and will be subject to annual testing for impairment on October 1 st . Estimating the fair value of a reporting unit requires various assumptions including projections of future cash flows, perpetual growth rates and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s assessment of a number of factors, including the reporting unit’s recent performance against budget, performance in the market that the reporting unit serves, and industry and general economic data from third party sources. Discount rate assumptions are based on an assessment of the risk inherent in those future cash flows. Changes to the underlying businesses could affect the future cash flows, which in turn could affect the fair value of the reporting unit. Intangible assets not subject to amortization are tested for impairment annually, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test shall consist of a comparison of the fair value of an intangible asset with its carrying amount. If the carrying amount of the intangible asset exceeds its fair value, an impairment loss shall be recognized in an amount equal to the excess. Intangible assets subject to amortization consists of certain trade names. These finite lived intangible assets are amortized based on their estimated useful lives. Such assets are subject to the impairment provisions of ASC 360, wherein impairment is recognized and measured only if there are events and circumstances that indicate that the carrying amount may not be recoverable. The carrying amount is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use of the asset group. An impairment loss is recorded if after determining that it is not recoverable, the carrying amount exceeds the fair value of the asset. In addition to the foregoing, the Company reviews its goodwill and intangible assets for possible impairment whenever events or circumstances indicate that the carrying amounts of assets may not be recoverable. The factors that the Company considers important, and which could trigger an impairment review, include, but are not limited to: a more likely than not expectation of selling or disposing all, or a portion, of a reporting unit; a significant decline in the market value of our common stock or debt securities for a sustained period; a material adverse change in economic, financial market, industry or sector trends; a material failure to achieve operating results relative to historical levels or projected future levels; and significant changes in operations or business strategy. Valuation of Long-lived Assets (Held for Sale)— In conjunction with the Company’s entry into definitive agreements with respect to the sale of North America Telecom, which was substantially completed on July 31, 2013, the Company classifies the net assets of the remaining portion of North America Telecom, PTI, as held for sale and is required to measure them at the lower of carrying value or fair value less costs to sell. In addition, the Company classifies the fair value of an aircraft, as held for sale. Prior to December 31, 2013 , ICS was included in held for sale assets. Under ASC 360, when a long-lived asset previously classified as held for sale is reclassified as held and used, the assets and liabilities are measured individually at the lower of the (1) carrying value prior to its held for sale classification, adjusted for any depreciation and amortization that would have been recognized and (2) the fair value as of the date of the decision not to sell. The Company determined that the carrying value of the current assets and current liabilities of ICS approximate fair value. With respect to the carrying value of the property and equipment of ICS, the Company first recorded depreciation for the period July 1, 2012 through December 31, 2013 and subsequently impaired any assets that had no future benefit. The resulting adjusted carrying value of ICS was lower than its fair value. The goodwill of ICS was tested for impairment under ASC 350 using a Step 1 and Step 2 approach. Because the fair value of ICS exceeded its adjusted carrying value under Step 1, no further analysis was required. The Company makes significant assumptions and estimates in the process of determining fair value regarding matters that are inherently uncertain, such as estimating future cash flows, discount rates and growth rates. The resulting cash flows are projected over an extended period of time, which subjects those assumptions and estimates to an even larger degree of uncertainty. While the Company believes that its estimates are reasonable, different assumptions could materially affect the valuation of the net assets. The current year analysis of carrying value and fair value less costs to sell is disclosed in Note 17—“Discontinued Operations.” Valuation of Long-lived Assets (Held and Used) —The Company reviews long-lived assets whenever events or changes indicate that the carrying amount of an asset may not be recoverable. In making such evaluations, the Company compares the expected undiscounted future cash flows to the carrying amount of the assets. If the total of the expected undiscounted future cash flows is less than the carrying amount of the assets, the Company is required to make estimates of the fair value of the long-lived assets in order to calculate the impairment loss equal to the difference between the fair value and carrying value of the assets. The Company makes significant assumptions and estimates in this process regarding matters that are inherently uncertain, such as determining asset groups and estimating future cash flows, remaining useful lives, discount rates and growth rates. The resulting undiscounted cash flows are projected over an extended period of time, which subjects those assumptions and estimates to an even larger degree of uncertainty. While the Company believes that its estimates are reasonable, different assumptions could materially affect the valuation of the long-lived assets. The Company derives future cash flow estimates from its historical experience and its internal business plans, which include consideration of industry trends, competitive actions, technology changes, regulatory actions, available financial resources for marketing and capital expenditures and changes in its underlying cost structure. The Company makes assumptions about the remaining useful life of its long-lived assets. The assumptions are based on the average life of its historical capital asset additions and its historical asset purchase trend. In some cases, due to the nature of a particular industry in which the company operates, the Company may assume that technology changes in such industry render all associated assets, including equipment, obsolete with no salvage value after their useful lives. In certain circumstances in which the underlying assets could be leased for an additional period of time or salvaged, the Company includes such estimated cash flows in its estimate. The estimate of the appropriate discount rate to be used to apply the present value technique in determining fair value was the Company’s weighted average cost of capital which is based on the effective rate of its long-term debt obligations at the current market values (for periods during which the Company had long-term debt obligations) as well as the current volatility and trading value of the Company’s common stock. Use of Estimates —The preparation of Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of net revenue and expenses during the reporting period. Actual results may differ from these estimates. Significant estimates include allowance for doubtful accounts receivable, accrued interconnection cost disputes, the extent of progress towards completion on contracts, contract revenue and costs on long-term contracts, market assumptions used in estimating the fair values of certain assets and liabilities, the calculation used in determining the fair value of HC2’s stock options required by ASC No. 718, “Compensation—Stock Compensation” (“ASC 718”), income taxes and various other contingencies. Estimates of fair value represent the Company’s best estimates developed with the assistance of independent appraisals or various valuation techniques and, where the foregoing have not yet been completed or are not available, industry data and trends and by reference to relevant market rates and transactions. The estimates and assumptions are inherently subject to significant uncertainties and contingencies beyond the control of the Company. Accordingly, the Company cannot provide assurance that the estimates, assumptions, and values reflected in the valuations will be realized, and actual results could vary materially. Revenue and Cost Recognition (Schuff) —Schuff performs its services primarily under fixed-price contracts and recognizes revenues and costs from construction projects using the percentage of completion method. Under this method, revenue is recognized based upon either the ratio of the costs incurred to date to the total estimated costs to complete the project or the ratio of tons fabricated to date to total estimated tons. Revenue recognition begins when work has commenced. Costs include all direct material and labor costs related to contract performance, subcontractor costs, indirect labor, and fabrication plant overhead costs, which are charged to contract costs as incurred. Revenues relating to changes in the scope of a contract are recognized when the work has commenced, Schuff has made an estimate of the amount that is probable of being paid for the change and there is a high degree of probability that the charges will be approved by the customer or general contractor. At June 30, 2014 , Schuff had $27.7 million of unapproved change orders on open projects, for which it has recognized revenues on a percent complete basis. While Schuff has been successful in having the majority of its change orders approved in prior years, there is no guarantee that the majority of unapproved change orders at June 30, 2014 will be approved. Revisions in estimates during the course of contract work are reflected in the accounting period in which the facts requiring the revision become known. Provisions for estimated losses on uncompleted contracts are made in the period a loss on a contract becomes determinable. Construction contracts with customers generally provide that billings are to be made monthly in amounts which are commensurate with the extent of performance under the contracts. Contract receivables arise principally from the balance of amounts due on progress billings on jobs under construction. Retentions on contract receivables are amounts due on progress billings, which are withheld until the completed project has been accepted by the customer. Costs and recognized earnings in excess of billings on uncompleted contracts primarily represent revenue earned under the percentage of completion method which has not been billed. Billings in excess of related costs and recognized earnings on uncompleted contracts represent amounts billed on contracts in excess of the revenue allowed to be recognized under the percentage of completion method on those contracts. Revenue and Cost Recognition (Telecommunications) —Net revenue is derived from carrying a mix of business, residential and carrier long-distance traffic, data and Internet traffic. For certain voice services, net revenue is earned based on the number of minutes during a call, and are recorded upon completion of a call. Revenue for a period is calculated from information received through the Company’s network switches. Customized software has been designed to track the information from the switch and analyze the call detail records against stored detailed information about revenue rates. This software provides the Company the ability to do a timely and accurate analysis of revenue earned in a period. Separate prepaid services software is used to track additional information related to prepaid service usage such as activation date, monthly usage amounts and expiration date. Revenue on these prepaid services is recognized as service is provided until expiration, when all unused minutes, which are no longer available to the customers, are recognized as revenue. Net revenue is also earned on a fixed monthly fee basis for unlimited local and long-distance voice plans and for the provision of data/Internet services (including retail VoIP), hosting, and colocation. In the United States, we charge customers Federal Universal Service Fund (“USF”) fees. We recognize revenue on a gross basis for USF and related fees. We record these fees as revenue when billed. Net revenue represents gross revenue, net of allowance for doubtful accounts receivable, service credits and service adjustments. Cost of revenue includes network costs that consist of access, transport and termination costs. The majority of the Company’s cost of revenue is variable, primarily based upon minutes of use, with transmission and termination costs being the most significant expense. Cost of revenue also includes fees such as Federal USF fees. Such costs are recognized when incurred in connection with the provision of telecommunications services. Income (Loss) Per Common Share —Basic income (loss) per common share is computed using the weighted average number of shares of common stock outstanding during the year. Diluted income (loss) per common share is computed using the weighted average number of shares of common stock, adjusted for the dilutive effect of potential common stock and related income from continuing operations, net of tax. Potential common stock, computed using the treasury stock method or the if-converted method, includes options, restricted stock units, warrants and convertible preferred stock. Reclassification —Certain previous year amounts have been reclassified to conform with current year presentations, as related to the reporting of the Company’s discontinued operations and new balance sheet line items. Newly Adopted Accounting Principles In July 2013, an update was issued to the Income Taxes Topic No. 740, ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” which indicates that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. Early adoption is permitted and this accounting update should be applied prospectively from the beginning of the fiscal year of adoption. On January 1, 2014, the Company adopted this update, which did not have a material impact on the Condensed Consolidated Financial Statements. In March 2013, an update was issued to the Foreign Currency Matters Topic No. 830, ASU 2013-5, “Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity,” which indicates that the entire amount of a cumulative translation adjustment related to an entity’s investment in a foreign entity should be released when there has been a (1) sale of a subsidiary or group of net assets within a foreign entity and the sale represents the substantially complete liquidation of the investment in the foreign entity; (2) loss of a controlling financial interest in an investment in a foreign entity; or (3) step acquisition for a foreign entity. Early adoption is permitted and this accounting update should be applied prospectively from the beginning of the fiscal year of adoption. On January 1, 2014, the Company adopted this update, which did not have a material impact on the Condensed Consolidated Financial Statements. In February 2013, an update was issued to the Liabilities Topic No. 405, ASU 2013-4, “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date,” which indicates reporting entities are required to measure obligations resulting from certain joint and several liability arrangements where the total amount of the obligation is fixed as of the reporting date, as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among co-obligors and any additional amounts the reporting entity expects to pay on behalf of its co-obligors. On January 1, 2014, the Company adopted this update, which did not have a material impact on the Condensed Consolidated Financial Statements. New Accounting Pronouncements In June 2014 , the FASB issued ASU 2014–12, “Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force),” in response to the EITF consensus on Issue 13-D. The ASU clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. The ASU does not contain any new disclosure requirements. Early adoption is permitted. The Company’s effective date for adoption is January 1, 2016. The Company does not expect this accounting update to have a material effect on its Condensed Consolidated Financial Statements in future periods, although that could change. In May 2014, the FASB and IASB issued their final standard on revenue from contracts with customers. The standard, issued as ASU 2014-9, “Revenue from Contracts with Customers (Topic 606),” by the FASB and as IFRS 15 by the IASB, outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that “an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” In applying the revenue model to contracts within its scope, an entity: • Identifies the contract(s) with a customer (step 1). • Identifies the performance obligations in the contract (step 2). • Determines the transaction price (step 3). • Allocates the transaction price to the performance obligations in the contract (step 4). • Recognizes revenue when (or as) the entity satisfies a performance obligation (step 5). The ASU applies to all contracts with customers except those that are within the scope of other topics in the FASB Accounting Standards Codification. Certain of the ASU’s provisions also apply

Accounts Receivable and Contrac

Accounts Receivable and Contracts in Progress	6 Months Ended
	Jun. 30, 2014
Receivables [Abstract]
Accounts Receivable and Contracts in Progress	ACCOUNTS RECEIVABLE AND CONTRACTS IN PROGRESS Accounts receivable consist of the following (in thousands): June 30, December 31, Contract receivables: Contracts in progress $ 87,859 $ — Unbilled retentions 33,099 — Trade receivables 18,846 21,456 Other receivables 328 — Allowance for doubtful accounts (2,089 ) (2,476 ) $ 138,043 $ 18,980 Most of the Company’s contract receivables are due from general contractors operating in Arizona, California, Colorado, Florida, Georgia, Nevada, Texas and Panama. Costs and recognized earnings in excess of billings on uncompleted contracts and billings in excess of costs and recognized earnings on uncompleted contracts consist of the following: June 30, December 31, Costs incurred on contracts in progress $ 561,453 $ — Estimated earnings 73,346 — 634,799 — Less progress billings 667,280 — $ (32,481 ) $ — The above is included in the accompanying condensed consolidated balance sheet under the following captions: Costs and recognized earnings in excess of billings on uncompleted contracts 25,737 — Billings in excess of costs and recognized earnings on uncompleted contracts (58,218 ) — $ (32,481 ) $ —

Inventories

Inventories	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories consist of the following (in thousands): June 30, December 31, Raw materials $ 16,502 $ — Work in process 298 — Finished goods 190 — $ 16,990 $ —

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS On May 29, 2014 , the Company completed the acquisition of 2.5 million shares of common stock of Schuff, a steel fabrication and erection company and negotiated an agreement to purchase an additional 198,411 shares, representing an approximately 65% interest in Schuff. Schuff repurchased a portion of its outstanding common stock in June 2014, which had the effect of increasing the Company’s ownership interest to 70% . Schuff and its wholly-owned subsidiaries are primarily steel fabrication and erection contractors with headquarters in Phoenix, Arizona and operations in Arizona, Florida, Georgia, Texas, Kansas and California. Schuff’s construction projects are primarily in the aforementioned states. In addition, Schuff has construction projects in select international markets, primarily Panama. The Company acquired Schuff to diversify its portfolio of holdings and saw Schuff as an opportunity to enter the steel fabrication and erection market. The transaction was accounted for using the acquisition method of accounting which requires, among other things, that assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date. Estimates of fair value included in the financial statements, in conformity with ASC No. 820, “Fair Value Measurements and Disclosures” (“ASC 820”), represent the Company’s best estimates and valuations developed with the assistance of independent appraisers and, where the following have not yet been completed or are not available, industry data and trends and by reference to relevant market rates and transactions. The following estimates and assumptions are inherently subject to significant uncertainties and contingencies beyond the control of the Company. Accordingly, the Company cannot provide assurance that the estimates, assumptions, and values reflected in the valuations will be realized, and actual results could vary materially. The table below summarizes the preliminary estimates of fair value of the Schuff assets acquired and liabilities assumed as of the acquisition date. Any changes to the initial estimates of the fair value of the assets and liabilities will be recorded as adjustments to those assets and liabilities and residual amounts will be allocated to goodwill. In accordance with ASC No. 805, “Business Combinations” (“ASC 805”), if additional information is obtained about these assets and liabilities within the measurement period (not to exceed one year from the date of acquisition), including finalization of asset appraisals, the Company will refine its estimates of fair value to allocate the purchase price more accurately. The purchase price of Schuff was valued at $31.50 per share which represented both the cash paid by the Company for its 65% interest, and the noncontrolling interest of 35% . The preliminary purchase price allocation (as restated) is as follows (in thousands): Cash and cash equivalents $ (627 ) Investments 1,714 Accounts receivable 130,622 Costs and recognized earnings in excess of billings on uncompleted contracts 27,126 Prepaid expenses and other current assets 3,079 Inventories 14,487 Property and equipment, net 85,662 Goodwill 24,612 Trade names 4,478 Other assets 2,947 Total assets acquired 294,100 Accounts payable 37,621 Accrued payroll and employee benefits 11,668 Accrued expenses and other current liabilities 12,532 Billings in excess of costs and recognized earnings on uncompleted contracts 65,985 Accrued income taxes 1,202 Accrued interest 76 Current portion of long-term debt 15,460 Long-term debt 4,375 Deferred tax liability 7,815 Other liabilities 604 Noncontrolling interest 4,365 Total liabilities assumed 161,703 Enterprise value 132,397 Less fair value of noncontrolling interest 53,647 Purchase price attributable to controlling interest $ 78,750 The acquisition of Schuff resulted in goodwill of approximately $24.6 million . Goodwill was the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Goodwill was recognized as a new stand-alone reporting unit. Goodwill is not amortized and is not deductible for tax purposes. The acquired amortizable intangible assets and the related estimated useful lives consist of the following (in thousands): Preliminary Estimated Useful Lives Preliminary Estimated Value May 29, 2014 Trade names 15 years $ 4,478 Total intangible assets $ 4,478 Pro Forma Adjusted Summary The results of Schuff’s operations have been included in the Condensed Consolidated Financial Statements subsequent to the acquisition date. Under the acquisition method of accounting, the total purchase price was allocated to the tangible and intangible assets acquired on the basis of their respective estimated fair values at the date of acquisition. The valuation of the identifiable intangible assets and their useful lives acquired reflects management’s estimates. The following schedule presents unaudited consolidated pro forma results of operations data as if the Schuff acquisition had occurred on January 1, 2013. This information does not purport to be indicative of the actual results that would have occurred if the acquisition had actually been completed on the date indicated, nor is it necessarily indicative of the future operating results or the financial position of the combined company (in thousands, except per share amounts): Three Months Ended June 30, 2014 (As Restated) 2013 Net revenue $ 169,184 $ 158,080 Net income (loss) from continuing operations (1,668 ) 4,317 Net income (loss) from discontinued operations 4 (567 ) Gain (loss) from sale of discontinued operations — 135,045 Net income (loss) attributable to HC2 Holdings, Inc. $ (1,664 ) $ 138,795 Basic income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.10 ) $ 0.31 Income (loss) from discontinued operations — (0.04 ) Gain (loss) from sale of discontinued operations — 9.67 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.10 ) $ 9.94 Diluted income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.10 ) $ 0.30 Income (loss) from discontinued operations — (0.04 ) Gain (loss) from sale of discontinued operations — 9.35 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.10 ) $ 9.61 Six Months Ended June 30, 2014 (As Restated) 2013 Net revenue $ 317,681 $ 305,000 Net income (loss) from continuing operations (3,764 ) (516 ) Net income (loss) from discontinued operations 12 1,819 Gain (loss) from sale of discontinued operations (784 ) 135,045 Net income (loss) attributable to HC2 Holdings, Inc. $ (4,536 ) $ 136,348 Basic income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.24 ) $ (0.04 ) Income (loss) from discontinued operations — 0.13 Gain (loss) from sale of discontinued operations (0.05 ) 9.69 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.29 ) $ 9.78 Diluted income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.24 ) $ (0.04 ) Income (loss) from discontinued operations — 0.13 Gain (loss) from sale of discontinued operations (0.05 ) 9.69 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.29 ) $ 9.78 All expenditures incurred in connection with the Schuff acquisition were expensed and are included in selling, general and administrative expenses. Transaction costs incurred in connection with the Schuff acquisition were $0.3 million during the three months ended June 30, 2014 . The results of operations for Schuff have been included in the condensed consolidated results of operations for the period May 29, 2014 through June 30, 2014 . The Company recorded revenue of $54.5 million and net income of $2.8 million from Schuff for the three months ended June 30, 2014 .

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2014
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following (in thousands): June 30, December 31, Land $ 18,872 $ — Buildings 24,142 — Building and leasehold improvements 3,375 386 Network equipment 5,348 5,303 Machinery and equipment 27,514 — Transportation equipment 1,165 — Furniture and fixtures 2,049 380 EDP equipment 1,967 — Construction in progress 2,556 — 86,988 6,069 Less accumulated depreciation and amortization 3,317 3,107 $ 83,671 $ 2,962 Depreciation expense was $0.8 million and $1.0 million for the three and six months ended June 30, 2014 , respectively. Depreciation expense was immaterial for the three and six months ended June 30, 2013 as a result of the property, plant and equipment of ICS being included in assets held for sale.

Accounts Payable

Accounts Payable	6 Months Ended
	Jun. 30, 2014
Payables and Accruals [Abstract]
Accounts Payable	ACCOUNTS PAYABLE Accounts payable consists of the following (in thousands): June 30, December 31, Accounts payable $ 47,557 $ 6,964 Retentions payable 3,690 — $ 51,247 $ 6,964

Long-Term Obligations

Long-Term Obligations	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]
Long-Term Obligations	LONG-TERM OBLIGATIONS Long-term debt consists of the following (in thousands): June 30, December 31, Note payable collaterized by the Company’s assets, with interest payable quarterly based on alternate base rate or LIBOR plus applicable margin (starting at 7.5% for alternate base rate and 8.5% for LIBOR) and increases by 25 basis points every quarter with principal due in 2015 $ 70,314 $ — Note payable collaterized by Schuff’s real estate, with interest payable monthly at LIBOR plus 4% and principal payable monthly, maturing in 2019 4,948 — Note payable to a bank under a revolving line of credit agreement, collaterized by Schuff’s assets, with interest payable monthly at the LIBOR plus 3%, maturing in 2019 10,689 — 85,951 — Less current portion 36,781 — $ 49,170 $ — Aggregate debt maturities are as follows (in thousands): 2014 $ 36,469 2015 45,472 2016 625 2017 625 2018 625 2019 2,135 $ 85,951 Redemption of 10% Notes, 10% Exchange Notes and 13% Notes and Satisfaction and Discharge of Related Indentures On August 30, 2013, PTGi International Holding, Inc. (f/k/a Primus Telecommunications Holding, Inc. “PTHI”), consummated the redemption of approximately $125.3 million of its 10% Senior Secured Notes due 2017 (the “10% Notes”) and 10% Senior Secured Exchange Notes due 2017 (the “10% Exchange Notes”). The $125.3 million consisted of approximately $12.7 million in aggregate principal amount of its 10% Notes at a redemption price equal to 106.50% of the principal amount thereof and $112.6 million in aggregate principal amount of its 10% Exchange Notes at a redemption price equal to 100.00% of the principal amount thereof, plus accrued but unpaid interest to the date of redemption. PTHI thereby satisfied and discharged the indenture governing the 10% Notes and 10% Exchange Notes (the “10% Notes Indenture”), as a result of which all of the obligations of PTHI, as the issuer of the 10% Notes and 10% Exchange Notes, and the guarantors of the 10% Notes and 10% Exchange Notes (including HC2) under the 10% Notes Indenture ceased to be of further effect (subject to certain exceptions) and the liens on collateral of PTHI and the guarantors of the 10% Notes and 10% Exchange Notes securing such notes were released. In connection with the August 2013 10% Notes and 10% Exchange Notes redemption, the Company incurred $0.8 million of premiums and other costs and wrote off $0.8 million and $14.8 million of deferred financing costs, respectively, and $0.1 million and $0.5 million of original issue discount, respectively, in the third quarter of 2013. Aside from the applicable redemption price, no other redemption premium was paid for the 10% Exchange Notes. On August 30, 2013, PTHI and Primus Telecommunications Canada Inc. (“PTCI”) consummated the redemption of approximately $2.4 million in aggregate principal amount of its 13% Senior Secured Notes due 2016 (the “ 13% Notes”) at a redemption price equal to 106.50% of the principal amount thereof, plus accrued but unpaid interest to the date of redemption. PTHI and PTCI thereby satisfied and discharged the indenture governing the 13% Notes (the “ 13% Notes Indenture”), as a result of which all of the obligations of PTHI and PTCI, as the issuers of the 13% Notes, and the guarantors of the 13% Notes (including HC2) under the 13% Notes Indenture ceased to be of further effect (subject to certain exceptions). Liens on collateral securing the 13% Notes had previously been released in connection with the amendment of the 13% Notes Indenture that became effective on July 7, 2011. In connection with the August 2013 13% Notes redemption, the Company incurred $0.2 million of premiums and other costs and wrote off $3.7 million of deferred financing costs and $0.02 million of original issue discount in the third quarter of 2013 . Credit Facilities On May 29, 2014, the Company entered into a senior secured credit facility providing for an eighteen month term loan of $80 million relating to its acquisition of Schuff pursuant to a Credit Agreement (the “Credit Agreement”) by and among HC2, certain subsidiary guarantors of HC2, the lenders party thereto from time to time, Jefferies LLC, as lead arranger, as book manager, as documentation agent for the lenders and as syndication agent for the lenders, and Jefferies Finance LLC, as administrative agent for the lenders and as collateral agent for the secured parties. The Credit Agreement contains certain customary representations, affirmative covenants and negative covenants, including a financial covenant that requires HC2 to maintain a certain collateral coverage ratio and Schuff to maintain a minimum EBITDA and certain limitations on capital expenditures that may be made by each of HC2 and Schuff. Borrowings under the Credit Agreement will bear interest at a floating rate which can be, at HC2’s option, either (i) an alternate base rate (of not less than 2%) plus an applicable margin or (ii) a LIBOR borrowing rate for a specified interest period (of not less than 1%) plus an applicable margin. The applicable margin for borrowings under the Credit Agreement starts at 7.50% per annum for alternate base rate loans and 8.50% per annum for LIBOR loans and increases by 25 basis points every three months. The Company’s obligations under the Credit Agreement are secured by substantially all of the Company’s assets, other than the assets of Schuff and its subsidiaries. The Credit Agreement contains various restrictive covenants. At June 30, 2014 , the Company was in compliance with these covenants. Schuff has a Credit and Security Agreement (“Credit Facility”) with Wells Fargo Credit, Inc. (“Wells Fargo”). On May 5, 2014 , Schuff amended its Credit Facility, pursuant to which Wells Fargo extended the maturity date of the Credit Facility to April 30, 2019 , lowered the interest rate charged in connection with borrowings under the line of credit and allowed for the issuance of a note payable totaling $5,000,000 , collaterized by its real estate (“Real Estate Term Advance”). The Real Estate Term Advance has a 5 years amortization period requiring monthly principal payments and a final balloon payment at maturity. The Real Estate Term Advance has a floating interest rate of LIBOR plus 4.0% and requires monthly interest payments. The proceeds of the Real Estate Term Advance, in conjunction with cash generated from operations and borrowings under the Credit Facility, were used to pay the remaining balance of the previous real estate term loan issued under the Credit Facility. The Credit Facility is secured by a first priority, perfected security interest in all of Schuff’s assets, excluding the real estate, and its present and future subsidiaries and a second priority, perfected security interest in all of Schuff’s real estate. The security agreements pursuant to which Schuff’s assets are pledged prohibit any further pledge of such assets without the written consent of the bank. The Credit Facility has a floating interest rate of LIBOR plus 3.00% ( 3.23% at June 29, 2014) and requires monthly interest payments. The Credit Facility contains various restrictive covenants. At June 30, 2014 , Schuff was in compliance with these covenants. SHE has a Line of Credit Agreement (the “International LOC”) with Banco General, S.A. (“Banco General”) in Panama pursuant to which Banco General agreed to advance up to a maximum amount of $3,500,000 . The line of credit is secured by a first priority, perfected security interest in SHE’s property and plant. The interest rate is 5.25% plus 1% of the special interest compensation fund (“FECI”). The line of credit contains covenants that, among other things, limit SHE’s ability to incur additional indebtedness, change its business, merge, consolidate or dissolve and sell, lease, exchange or otherwise dispose of its assets, without prior written notice. At June 30, 2014 , the Company had $86.0 million of borrowings and $3.9 million of outstanding letters of credit issued under its credit facilities. There was $35.4 million available under the Schuff Credit Facility at June 30, 2014 . At June 30, 2014 , Schuff had no borrowings and no outstanding letters of credit issued under its International LOC. There was $3.5 million available under Schuff’s International LOC at June 30, 2014 .

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Income tax expense Income tax expense was $2.2 million (as restated) and $0.1 million for the three months ended June 30, 2014 and June 30, 2013 , respectively. The increase in tax expense was due primarily to the acquisition of Schuff. Income tax expense was $2.2 million (as restated) and $0.2 million for the six months ended June 30, 2014 and June 30, 2013 , respectively. The increase in tax expense was due primarily to the acquisition of Schuff. NOL Limitation As of December 31, 2013 , the Company reported operating loss carryforwards available to reduce future United States taxable income in the amount of $241.0 million , of which, $125.0 million was subject to limitation under Section 382 of the Internal Revenue Code (“Section 382”). In the first quarter of 2014 , substantial acquisitions of HC2 stock were reported by new beneficial owners of 5% or more of the Company’s common stock on Schedule 13D filings made with the SEC. On May 29, 2014, the Company issued 30,000 shares of Preferred Stock and 1,500,000 shares of common stock related to the acquisition of Schuff. During the second quarter the Company completed a Section 382 review. The conclusions of this review indicate that an ownership change had occurred as of May 29, 2014. The Company’s annual Section 382 base limit following the ownership change is estimated to be $2.16 million per year. The Company also determined that it had a net unrealized built in gain (NUBIG) at the time of the change. Pursuant to Internal Revenue Code Section 382(h), the Company is able to increase its Section 382 annual base limitation by an incremental limitation estimated to be a total of $7.1 million in the first five years following the ownership change. On this basis the annual limitation for the first five years is estimated to be $3.58 million , decreasing to $2.16 million for the subsequent 15 years . Unrecognized Tax Benefits The Company follows the provision of ASC No. 740-10, “Income Taxes” which prescribes a comprehensive model for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that the Company has taken or expects to take on a tax return. The Company is subject to challenge from various taxing authorities relative to certain tax planning strategies, including certain intercompany transactions as well as regulatory taxes. It is expected that the amount of unrecognized tax benefits, reflected in the Company’s financial statements, will change in the next twelve months; however, the Company does not expect the change to have a significant impact on the results of operations or the financial position of the Company. During the three and six months ended June 30, 2014 , penalties and interest were immaterial. Examinations The Company conducts business globally, and as a result, HC2 or one or more of its subsidiaries files income tax returns in the United States federal jurisdiction and various state and foreign jurisdictions. In the normal course of business the Company is subject to examination by taxing authorities throughout the world. The Company is currently under examination in various domestic and foreign tax jurisdictions, which when resolved, are not expected to have a material effect on its Condensed Consolidated Financial Statements. The following table summarizes the open tax years for each major jurisdiction: Jurisdiction Open Tax Years United States Federal 2002—2013 United Kingdom 2005—2013 Netherlands 2008—2013

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Future minimum lease payments under non-cancellable operating leases, including continuing obligations of discontinued operations, as of June 30, 2014 are as follows (in thousands): Year Ending December 31, Operating Leases 2014 (as of June 30, 2014) $ 1,470 2015 2,456 2016 1,912 2017 1,217 2018 616 Thereafter 1,054 Total long-term obligations $ 8,725 The Company has contractual obligations to utilize an external vendor for certain customer support functions and to utilize network facilities from certain carriers with terms greater than one year. The Company’s rent expense under operating leases was $1.0 million and $0.7 million for the three months ended June 30, 2014 and 2013 , respectively. The Company’s rent expense under operating leases was $3.3 million and $1.4 million for the six months ended June 30, 2014 and 2013 , respectively. The rent expense for the three and six months ended June 30, 2014 includes costs associated with the terminations of facilities leases. Litigation In December 2012, two lawsuits were filed against our subsidiaries that involve fabrication work pertaining to a refinery in Whiting, Indiana (the “BP Refinery”), owned by a subsidiary of British Petroleum (“BP”). BP brought suit in the United States District Court for the Northern District of Indiana against Carboline Company (“Carboline”), Trinity Steel Fabricators, Inc. (“Trinity”), the Company’s subsidiary, Schuff Steel Company (“SSC”), Tecon Services, Inc. (“Tecon”) and Alfred Miller Contracting Company (“AMC”), asserting contract and warranty claims as to SSC, arising out of allegations that fireproofing applied by others to steel that SSC and Trinity supplied to a modernization project at the BP Refinery was defectively fireproofed. AMC and Tecon filed a Petition for Damages and Declaratory Judgment in the State Court of Louisiana (14 th Judicial District Court, Parish of Calcasieu), against Carboline, BP Corporation North America Inc., BP Products North America, Inc., Trinity, the Company’s subsidiaries, SSC and Schuff Steel—Gulf Coast, Inc. (“Gulf Coast”) and others parties. AMC and Tecon alleged, among other claims, that the Carboline Pyrocrete ® 241 on the BP Refinery project was defective and that Carboline breached product warranties. In April 2014, the lawsuits were resolved in mediation. A confidential settlement agreement was executed on June 16, 2014 and the litigations were formally dismissed in July 2014. The Company’s settlement contribution was funded by its insurance carriers. On February 14, 2014, the Company’s subsidiary, SSC, filed suit against dck/FWF, LLC (“dck”) in the Circuit Court in Sarasota County, Florida for additional work and costs SSC incurred on the University Town Center Project (“UTC Project”) in Sarasota, Florida. From the beginning of the UTC Project, the owner and general contractor, dck, made numerous design changes that resulted in substantial extra work for SSC. dck directed SSC to proceed and price this additional work. In May 2014, the lawsuit was resolved. Under the terms of a confidential settlement agreement, Schuff received certain additional compensation for extra work performed and costs incurred on the UTC Project. The Company is subject to other claims and legal proceedings that arise in the ordinary course of business. Such matters are inherently uncertain, and there can be no guarantee that the outcome of any such matter will be decided favorably to the Company or that the resolution of any such matter will not have a material adverse effect upon the Company’s business, consolidated financial position, results of operations or cash flow. The Company does not believe that any of such pending claims and legal proceedings will have a material adverse effect on its business, consolidated financial position, results of operations or cash flow.

Employee Retirement Plans

Employee Retirement Plans	6 Months Ended
	Jun. 30, 2014
Postemployment Benefits [Abstract]
Employee Retirement Plans	EMPLOYEE RETIREMENT PLANS HC2 and Schuff each maintain a 401(k) retirement savings plan which covers eligible employees and permits participants to contribute to the plan, subject to Internal Revenue Code restrictions and which features matching contributions. Certain of Schuff’s fabrication and erection workforce are subject to collective bargaining agreements. Schuff contributes to union-sponsored, multi-employer pension plans. Contributions are made in accordance with negotiated labor contracts. The passage of the Multi-Employer Pension Plan Amendments Act of 1980 (the Act) may, under certain circumstances, cause Schuff to become subject to liabilities in excess of contributions made under collective bargaining agreements. Generally, liabilities are contingent upon the termination, withdrawal, or partial withdrawal from the plans. Under the Act, liabilities would be based upon Schuff’s proportionate share of each plan’s unfunded vested benefits. Effective March 31, 2012, Schuff withdrew from the Steelworkers Pension Trust and incurred an initial withdrawal liability of approximately $2.6 million . During 2013 , Schuff negotiated with the Steelworkers Pension Trust and reduced the liability to approximately $2.4 million . Schuff is required to make quarterly payments of approximately $0.2 million through September 1, 2015. The remaining balance of the withdrawal liability at June 30, 2014 was approximately $1.0 million , and is included in other liabilities (current and long-term) in the condensed consolidated balance sheets. Prior to its withdrawal from the Steelworkers Pension Trust, Schuff made contributions of $0.2 million during the year ended December 31, 2012 . Schuff made contributions to the California Ironworkers Field Pension Trust (“Field Pension”) of $0.9 million during the six months ended June 30, 2014 . Schuff’s funding policy is to make monthly contributions to the plan. Schuff’s employees represent less than 5% of the participants in the Field Pension. As of June 30, 2014 , Schuff has not undertaken to terminate, withdraw, or partially withdraw from the Field Pension. To replace the benefits associated with the Steelworkers Pension Trust upon Schuff’s withdrawal from that plan, Schuff agreed to make profit share contributions to a 401(k) defined contribution retirement savings plan (the “Union 401k”) for union steelworkers. Contributions made to the Union 401k by union steelworkers are 100% vested immediately. Union steelworkers are eligible for the profit share contributions after completing a probationary period ( 640 hours of work) and are 100% vested three years from the date of hire. Union steelworkers are not required to make contributions to the Union 401k to receive the profit share contributions. Profit share contributions are made for each hour worked by each eligible union steelworker at the following rates: $0.50 per hour from April 1, 2013 to March 31, 2014 and $0.55 per hour from April 1, 2014 and beyond. Profit share contributions amounted to approximately $11,000 for the six months ended June 30, 2014 .

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION On April 11, 2014, HC2’s Board of Directors adopted the HC2 Holdings, Inc. 2014 Omnibus Equity Award Plan (the “Omnibus Plan”), which was approved by our stockholders at the annual meeting of stockholders held on June 12, 2014. The Omnibus Plan provides that no further awards will be granted pursuant to HC2’s Management Compensation Plan, as amended (the “Prior Plan”). However, awards that had been previously granted pursuant to the Prior Plan will continue to be subject to and governed by the terms of the Prior Plan. As of June 30, 2014 , there were 472,002 shares of HC2 common stock underlying such outstanding awards. The Compensation Committee (the “Committee”) of the Board of Directors of HC2 administers HC2’s Omnibus Plan and the Prior Plan and has broad authority to administer, construe and interpret the plans. The Management Compensation Plan provides for the grant of awards of non-qualified stock options, incentive (qualified) stock options, stock appreciation rights, restricted stock awards, restricted stock units, other stock based awards, performance compensation awards (including cash bonus awards) or any combination of the foregoing (collectively, “awards”). HC2 typically issues new shares of common stock upon the exercise of stock options, as opposed to using treasury shares. The Omnibus Plan authorizes the issuance of up to 5,000,000 shares of HC2 common stock, subject to adjustment as provided in the Omnibus Plan. The Company follows guidance which addresses the accounting for share-based payment transactions whereby an entity receives employee services in exchange for either equity instruments of the enterprise or liabilities that are based on the fair value of the enterprise’s equity instruments or that may be settled by the issuance of such equity instruments. The guidance generally requires that such transactions be accounted for using a fair-value based method and share-based compensation expense be recorded, based on the grant date fair value, estimated in accordance with the guidance, for all new and unvested stock awards that are ultimately expected to vest as the requisite service is rendered. There were 2,812,385 and 40,000 options granted during the six months ended June 30, 2014 and 2013 , respectively. Of the 2,812,385 options granted during the six months ended June 30, 2014 , 2,803,864 of such options were granted to Philip Falcone, in connection with his appointment as Chairman, President and Chief Executive Officer of HC2. These options were issued pursuant to a standalone option agreement with Mr. Falcone and not pursuant to the Omnibus Plan. The weighted average fair value at date of grant for options granted during the six months ended June 30, 2014 was $1.44 per option. The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions shown as a weighted average for the year: Six Months Ended June 30, 2014 2013 Expected option life 5.87 years 5.75 years Risk-free interest rate 1.65% – 2.73% 1.32% Expected volatility 36.74% – 37.20% 35.55% Dividend yield —% —% Total share-based compensation expense recognized by the Company during the three months ended June 30, 2014 and 2013 was $1.5 million (as restated) and $1.0 million , respectively. Total share-based compensation expense recognized by the Company during the six months ended June 30, 2014 and 2013 was $1.7 million (as restated) and $1.5 million , respectively. Most of HC2’s stock awards vest ratably during the vesting period. The Company recognizes compensation expense for equity awards, reduced by estimated forfeitures, using the straight-line basis. Restricted Stock Units (RSUs) A summary of HC2’s RSU activity during the six months ended June 30, 2014 is as follows: Shares Weighted Average Grant Date Fair Value Unvested - December 31, 2013 22,500 $ 13.59 Granted 4,261 $ 3.60 Vested (20,000 ) $ 13.82 Forfeitures — $ — Unvested - June 30, 2014 6,761 $ 6.67 As of June 30, 2014 , the unvested RSUs represented $40,000 of compensation expense that is expected to be recognized over the weighted average remaining vesting period of 1.1 years . The number of unvested RSUs expected to vest is 6,761 . Stock Options A summary of HC2’s stock option activity during the six months ended June 30, 2014 is as follows: Shares Weighted Average Exercise Price Outstanding - December 31, 2013 589,859 $ 3.17 Granted 2,812,385 $ 4.32 Exercised (230,300 ) $ 2.43 Forfeitures (229,901 ) $ 4.47 Outstanding - June 30, 2014 2,942,043 $ 4.28 Eligible for exercise 1,056,467 $ 4.22 The following table summarizes the intrinsic values and remaining contractual terms of HC2’s stock options: Intrinsic Value Weighted Average Remaining Life in Years Options outstanding - June 30, 2014 $ 96,292 10.0 Options exercisable - June 30, 2014 $ 79,295 9.8 During the six months ended June 30, 2014 , the intrinsic value of the exercised options was $0.3 million . As of June 30, 2014 , the Company had 1,885,577 unvested stock options outstanding of which $2.7 million of compensation expense is expected to be recognized over the weighted average remaining vesting period of 1.9 years . The number of unvested stock options expected to vest is 1,885,577 shares, with a weighted average remaining life of 10.0 years , a weighted average exercise price of $4.28 , and an intrinsic value that was immaterial.

Equity

Equity	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]
Equity	EQUITY As of June 30, 2014 and December 31, 2013 , there were 20,511,969 and 14,225,919 shares of common stock outstanding, respectively. As of June 30, 2014 and December 31, 2013 , there were 30,000 and 0 shares of preferred stock outstanding, respectively. Class A and B Warrants In July 2009, HC2 issued (A) Class A warrants (the “Class A Warrants”) to purchase shares of HC2’s common stock, which are divided into three separate series (Class A-1, Class A-2 and Class A-3 Warrants), each of which series consists of 1,000,000 warrants to purchase an original aggregate amount of up to 1,000,000 shares of HC2 common stock; and (B) Class B warrants (the “Class B Warrants” and, together with the Class A Warrants, the “Warrants”) to purchase an original aggregate amount of up to 1,500,000 shares of HC2 common stock. In connection with the issuance of the Warrants, HC2 entered into a Warrant Agreement for each of the Class A Warrants and the Class B Warrants, in each case with Broadridge Financial Solutions, Inc. (successor-in-interest to StockTrans, Inc.), as warrant agent. The Warrants have a five -year term and expired on July 1, 2014 . As a result of special cash dividends paid in 2012 and 2013 , antidilution adjustment provisions were triggered and the original exercise price and the number of shares of HC2 common stock issuable upon exercise were adjusted. As of June 30, 2014 , the exercise price with respect to (i) the Class A-1 Warrants is $2.79 , (ii) the Class A-2 Warrants is $3.77 , (iii) the Class A-3 Warrants is $4.67 , and (iv) the Class B Warrants is $5.93 ; while the number of shares of HC2 common stock issuable upon exercise with respect to (i) the Class A-1 Warrants is 903,779 , (ii) the Class A-2 Warrants is 3,109,302 , (iii) the Class A-3 Warrants is 4,385,696 , and (iv) the Class B Warrants is 6,579,322 . There were 734,748 Class A-1 Warrants exercised during the six months ended June 30, 2014 , which converted to 3,222,816 shares of HC2’s common stock. There were 291,109 Class A-2 Warrants exercised during the six months ended June 30, 2014 , which converted to 1,276,912 shares of HC2’s common stock. There were 119 Class A-3 Warrants exercised during the six months ended June 30, 2014 , which converted to 522 shares of HC2’s common stock. The warrants expired on July 1, 2014 . Prior to expiration, an additional 144,192 Class A-1 Warrants were exercised which converted into 632,473 shares of HC2’s common stock, an additional 489,644 Class A-2 Warrants were exercised which converted into 2,147,729 shares of HC2’s common stock and an additional 5,590 Class A-3 Warrants were exercised which converted into 24,519 shares of HC2’s common stock. Preferred and Common Stock On May 29, 2014, HC 2 issued 30,000 shares of Preferred Stock and 1,500,000 shares of common stock, the proceeds of which were used to pay for a portion of the purchase price for the acquisition of Schuff. Each share of Preferred Stock is initially convertible at a conversion price of $4.25 , which is subject to adjustment for dividends, certain distributions, stock splits, combinations, reclassifications, reorganizations, mergers, recapitalizations and similar events. The Preferred Stock will accrue a cumulative quarterly cash dividend at an annualized rate of 7.5% . The accrued value of the Preferred Stock will accrete quarterly at an annualized rate of 4% that will be reduced to 2% or 0% if the Company achieves specified rates of growth measured by increases in its net asset value. Each share of Preferred Stock may be converted by the holder into common stock at any time based on the then-applicable conversion price. On the seventh anniversary of the issue date, holders of the Preferred Stock shall be entitled to cause the Company to redeem the Preferred Stock at the accrued value per share plus accrued but unpaid dividends. Each share of Preferred Stock that is not so redeemed will be automatically converted into shares of common stock at the conversion price then in effect. Upon a change of control, holders of the Preferred Stock shall be entitled to cause HC2 to redeem their Preferred Stock at a price per share equal to the greater of (i) the accrued value of the Preferred Stock, which amount would be multiplied by 150% in the event of a change in control occurring on or prior to the third anniversary of the issue date plus and accrued but unpaid dividends and (ii) the value that would be received if the share of Preferred Stock were converted into common stock immediately prior to the change of control. At any time after the third anniversary of the issue date, HC2 may redeem the Preferred Stock, in whole but not in part, at a price per share generally equal to 150% of the accrued value per share plus accrued but unpaid dividends. After the third anniversary of the issue date, HC2 may force conversion of the Preferred Stock into common stock if the common stock’s thirty -day volume-weighted average price (“VWAP”) exceeds 150% of the then-applicable conversion price and the common stock’s daily VWAP exceeds 150% of the then-applicable conversion price for at least twenty trading days out of the thirty trading day period used to calculate the thirty-day VWAP. In periods when the Company generates income, the Company calculates basic earnings per share using the two-class method, pursuant to ASC No. 260, “Earnings Per Share.” The two-class method is required as the Company’s preferred stock qualify as participating securities, having the right to receive dividends should dividends be declared on common stock. Under this method, earnings for the period are allocated on a pro-rata basis to the common stockholders and to the holders of preferred stock based on the weighted average number of common shares outstanding and the number of shares that could be converted. The Company does not use the two-class method in periods when it generates a loss as the holders of the preferred stock do not participate in losses.

Fair Value of Financial Instrum

Fair Value of Financial Instruments and Derivatives	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments and Derivatives	FAIR VALUE OF FINANCIAL INSTRUMENTS AND DERIVATIVES The carrying amounts reported in the condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, inventory, costs and recognized earnings in excess of billings, accounts payable, accrued expenses, billings in excess of costs and recognized earnings, and other current assets and liabilities approximate fair value due to relatively short periods to maturity. The Company’s investments, recorded at fair value using quoted market prices (a Level 1 approach), as of June 30, 2014 was $0.8 million . The estimated aggregate fair value of the Company’s debt, based on significant other observable inputs (a Level 2 approach) approximated its carrying value of $86.0 million at June 30, 2014 .

Operating Segment and Related I

Operating Segment and Related Information	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]
Operating Segment and Related Information	OPERATING SEGMENT AND RELATED INFORMATION The Company currently has two reportable geographic segments—United States and United Kingdom. The Company has three reportable operating segments based on management’s organization of the enterprise—Telecommunications, Life Sciences and Manufacturing. The Company also has non-operating Corporate segment. Net revenue and long-lived assets by geographic segment is reported on the basis of where services are provided and the location of the long-lived assets, respectively. All inter-segment revenues are eliminated. The Company has no single customer representing greater than 10% of its revenues. Summary information with respect to the Company’s geographic and operating segments is as follows (in thousands): Three Months Ended Six Months Ended June 30, 2014 (As Restated) June 30, 2013 June 30, 2014 (As Restated) June 30, 2013 Net Revenue by Geographic Region United States $ 80,978 $ 23,635 $ 106,258 $ 47,263 United Kingdom 15,608 34,986 33,682 70,147 Total $ 96,586 $ 58,621 $ 139,940 $ 117,410 Net Revenue by Segment Telecommunications $ 42,111 $ 58,621 $ 85,465 $ 117,410 Manufacturing 54,475 — 54,475 — Total $ 96,586 $ 58,621 $ 139,940 $ 117,410 Income (Loss) from Operations Telecommunications (228 ) (4,646 ) (106 ) (9,023 ) Life Sciences (935 ) — (935 ) — Manufacturing 5,771 — 5,771 — Corporate (4,724 ) (6,845 ) (8,933 ) (7,970 ) Total $ (116 ) $ (11,491 ) $ (4,203 ) $ (16,993 ) Capital Expenditures Telecommunications $ 188 $ 3,438 $ 256 $ 9,955 Manufacturing 386 — 386 — Corporate — — 21 — Total $ 574 $ 3,438 $ 663 $ 9,955 The above capital expenditures exclude assets acquired under terms of capital lease and vendor financing obligations. June 30, December 31, Property, Plant and Equipment – Net United States $ 83,171 $ 2,303 United Kingdom 500 659 Total $ 83,671 $ 2,962 June 30, December 31, Assets United States $ 379,497 $ 71,481 United Kingdom 12,574 16,199 Total $ 392,071 $ 87,680

Backlog

Backlog	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Backlog	BACKLOG Schuff’s backlog was $386.9 million ( $366.9 million under contracts or purchase orders and $20.0 million under letters of intent) at June 30, 2014 . The Company’s backlog increases as contract commitments, letters of intent, notices to proceed and purchase orders are obtained, decreases as revenues are recognized and increases or decreases to reflect modifications in the work to be performed under the contracts, notices to proceed, letters of intent or purchase orders. Schuff’s backlog can be significantly affected by the receipt, or loss, of individual contracts. Approximately $208.2 million , representing 53.8% of Schuff’s backlog at June 30, 2014 , was attributable to five contracts, letters of intent, notices to proceed or purchase orders. If one or more of these large contracts or other commitments are terminated or their scope reduced, Schuff’s backlog could decrease substantially.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	DISCONTINUED OPERATIONS On April 17, 2013, the Company completed the sale of its BLACKIRON Data business to Rogers Communications Inc., a Canadian telecommunications company, and its affiliates for CAD $200.0 million (or approximately USD $195.6 million giving effect to the currency exchange rate on the day of sale). The Company recorded a $135.0 million gain from the sale of this segment during the second quarter of 2013. In addition, the purchase agreement contains customary indemnification obligations, representations, warranties and covenants for a transaction of this nature. In connection with the closing of the transaction, CAD $20.0 million (or approximately USD $19.5 million giving effect to the currency exchange rate on the day of sale) was retained from the purchase price and placed into escrow until July 17, 2014 for purposes of satisfying potential indemnification claims pursuant to the purchase agreement. The escrow has been recorded as part of prepaid expenses and other current assets in the condensed consolidated balance sheets. In July 2014, we received the escrow proceeds of $19.5 million . A majority of the proceeds was used to pay down the Credit Agreement. On July 31, 2013, the Company completed the sale of Lingo, Inc., iPrimus, USA, Inc., 3620212 Canada Inc., PTCI, Telesonic Communications Inc., and Globility Communications Corporation to affiliates of York Capital Management, an investment firm (together “York”), for $129 million . The sale of PTI was also contemplated as part of this transaction, and subject to regulatory approval. The Company recorded a $13.8 million gain from the sale of this segment during the year ended December 31, 2013 . In addition, the purchase agreement contains customary indemnification obligations, representations, warranties and covenants for a transaction of this nature. Certain indemnification obligations are subject to a cap of $12.9 million . In addition, the purchase agreement provides that the Company must, for 14 months after the closing of the transaction, maintain a minimum balance of cash and cash equivalents necessary to satisfy potential indemnification obligations under the purchase agreement. The Company received $126.0 million , net of $15.25 million held in escrow as part of the initial closing, with an additional $3.0 million held in escrow to be paid upon closing of the sale of PTI. The escrow has been recorded as part of prepaid expenses and other current assets in the condensed consolidated balance sheets. On July 31, 2014, having received the necessary regulatory approvals for PTI, we completed the divestiture of the remainder of our North America Telecom business. On July 31, 2014, the escrow proceeds of $3.0 million was released. A portion of the proceeds was used to pay down the Credit Agreement. Pursuant to the terms of the purchase agreement, $6.45 million of the purchase price was placed in escrow to be released 14 months after the closing date, subject to any deductions required to satisfy indemnification obligations of HC2 under the purchase agreement. In addition, $4.0 million of the purchase price was placed in escrow to cover any payments required in connection with the post-closing working capital and cash adjustments, of which $3.2 million was disbursed to the Company and $0.8 million was disbursed to the purchaser upon completion of such adjustments in February 2014. The $0.8 million was recorded as an adjustment to the gain that was recorded in 2013, which resulted in a net gain from this transaction of $13.0 million . Furthermore, $4.8 million of the purchase price was placed in escrow to cover certain tax liabilities, which will be released after a positive ruling with respect to the underlying matter is received or 30 days after expiration of the applicable statute of limitations relating to the underlying matter. The $6.45 million escrow deposit is recorded in prepaid expenses and other current assets, while the $4.8 million escrow deposit is recorded in other assets in the condensed consolidated balance sheet as of June 30, 2014 . The Company evaluated the remaining carrying value of North America Telecom, i.e. PTI, in the third quarter of 2013 which resulted in it being higher than its fair value less costs to sell by $0.3 million and have attributed such adjustment to the long-lived assets of PTI. As the adjustment is related to North America Telecom, it is classified within income (loss) from discontinued operations, net of tax on the condensed consolidated statements of operations. As a result of these events, the Company’s Condensed Consolidated Financial Statements reflect BLACKIRON Data and North America Telecom as well as PTHI’s interest expense and loss on early extinguishment or restructuring of debt, as discontinued operations for the three and six months ended June 30, 2013 . Accordingly, revenue, costs and expenses of the discontinued operations have been excluded from the respective captions in the condensed consolidated statements of operations. The net operating results of the discontinued operations have been reported, net of applicable income taxes as income or loss (where applicable) from discontinued operations. The assets and liabilities of the remaining portion of North America Telecom, PTI, have been classified as held for sale assets and liabilities as of June 30, 2014 and December 31, 2013 . The held for sale assets and liabilities were removed from the specific line items on the condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013 . Summarized operating results of the discontinued operations are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2014 2013 2014 2013 Net revenue $ 3,190 $ 50,316 $ 6,468 $ 111,199 Operating expenses 3,113 46,070 6,342 100,327 Income from operations 77 4,246 126 10,872 Interest expense (3 ) (4,260 ) (3 ) (8,509 ) Interest income and other income (expense) (25 ) 28 (51 ) 46 Foreign currency transaction loss — (262 ) — (339 ) Income (loss) before income tax 49 (248 ) 72 2,070 Income tax (expense) (22 ) (359 ) (28 ) (298 ) Income from discontinued operations $ 27 $ (607 ) $ 44 $ 1,772 Excluded from the table below, but included in assets held for sale, is $3.6 million which represents the fair value of the aircraft. Summarized assets and liabilities of the remaining portion of North America Telecom, PTI, classified as held for sale as of June 30, 2014 and December 31, 2013 are as follows (in thousands): North America Telecom (1) June 30, December 31, Accounts receivable $ 311 $ 670 Prepaid expenses and other current assets 550 839 Long-lived assets and other non-current assets 4,795 4,820 Assets held for sale $ 5,656 $ 6,329 Accounts payable $ 618 $ 869 Accrued interconnection costs 305 420 Accrued expenses and other liabilities 3,336 3,534 Liabilities held for sale $ 4,259 $ 4,823 (1) Included in the table above is the remaining goodwill of the US reporting unit of $3.7 million and customer relationships of $0.4 million , applicable to PTI.

Basic and Diluted Income (Loss)

Basic and Diluted Income (Loss) Per Common Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]
Basic and Diluted Income (Loss) Per Common Share	BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE Basic income (loss) per common share is calculated by dividing income (loss) attributable to common shareholders by the weighted average common shares outstanding during the period. Diluted income per common share adjusts basic income per common share for the effects of potentially dilutive common share equivalents. The Company had dilutive common share equivalents during the three months ended June 30, 2013 , due to the results of operations being income from continuing operations, net of tax. For the three months ended June 30, 2013 , the following were dilutive and were included in the calculation of diluted income per common share due to their dilutive effect: Three Months Ended June 30, 2013 • 0.2 million shares issuable upon exercise of stock options and RSUs; • 0.3 million shares issuable upon exercise of Warrants For the six months ended June 30, 2013 , the Company had no dilutive common share equivalents due to results of operations being a loss from continuing operations, net of tax. The amounts above were excluded from the calculation of diluted loss per common share due to their antidilutive effect. The Company had no dilutive common share equivalents during the three and six months ended June 30, 2014 due to the results of operations being a loss from continuing operations, net of tax. For the three and six months ended June 30, 2014 , the following were potentially dilutive but were excluded from the calculation of diluted loss per common share due to their antidilutive effect: Three and Six Months Ended June 30, 2014 • 1.7 million shares issuable upon exercise of stock options and RSUs; and • 15.0 million shares issuable upon exercise of Warrants. A calculation of basic income (loss) per common share to diluted income (loss) per common share is set forth below (in thousands, except per share amounts): Three Months Ended Six Months Ended 2014 (As Restated) 2013 2014 (As Restated) 2013 Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (4,136 ) $ 2,920 $ (8,316 ) $ (2,671 ) Income (loss) from discontinued operations 27 (607 ) 44 1,772 Gain (loss) from sale of discontinued operations — 135,045 (784 ) 135,045 Net income (loss) – basic $ (4,109 ) $ 137,358 $ (9,056 ) $ 134,146 Net income (loss) – diluted $ (4,109 ) $ 137,358 $ (9,056 ) $ 134,146 Weighted average common shares outstanding – basic 16,905 13,972 15,780 13,941 Weighted average common shares outstanding – diluted 16,905 14,436 15,780 13,941 Basic income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.24 ) $ 0.21 $ (0.52 ) $ (0.19 ) Income (loss) from discontinued operations — (0.04 ) — 0.12 Gain (loss) from sale of discontinued operations — 9.66 (0.05 ) 9.69 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.24 ) $ 9.83 $ (0.57 ) $ 9.62 Diluted income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.24 ) $ 0.20 $ (0.52 ) $ (0.19 ) Income (loss) from discontinued operations — (0.04 ) — 0.12 Gain (loss) from sale of discontinued operations — 9.35 (0.05 ) 9.69 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.24 ) $ 9.51 $ (0.57 ) $ 9.62

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Completion of North America Telecom Divestiture As discussed above under Note 1—“Organization and Business”, the closing of the sale of the remainder of our North America Telecom business, which was to follow the initial closing that occurred on July 31, 2013, was deferred pending the receipt of regulatory approvals. On July 31, 2014, having received the necessary regulatory approvals for PTI, we completed the divestiture of the remainder of our North America Telecom business. On July 31, 2014, the escrow proceeds of $3.0 million was released. A portion of the proceeds was used to pay down the Credit Agreement. Collection of Escrow Related to Sale of BLACKIRON Data Business As discussed above under Note 17—“Discontinued Operations”, we received the escrow proceeds of $19.5 million related to the sale of our BLACKIRON Data business. A majority of the proceeds was used to pay down the Credit Agreement. Sale of Aircraft In July 2014, Schuff finalized its sale of aircraft and related machinery and equipment. Schuff classified the assets as held for sale in the Condensed Consolidated Financial Statements as of June 30, 2014 .

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation —The accompanying unaudited Condensed Consolidated Financial Statements of HC2 have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial reporting and Securities and Exchange Commission (“SEC”) regulations. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such principles and regulations. In the opinion of management, the financial statements reflect all adjustments (all of which are of a normal and recurring nature), which are necessary to present fairly the financial position, results of operations, cash flows and comprehensive income (loss) for the interim periods. The results for the Company’s three and six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014 . The financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the Company’s most recently filed Annual Report on Form 10-K. Schuff uses a 4-4-5 week quarterly cycle ending on the Sunday closest to June 30 th . The second quarter of 2014 for Schuff ends on June 29, 2014.
Principles of Consolidation	Principles of Consolidation —The Condensed Consolidated Financial Statements include the Company’s accounts, its wholly owned subsidiaries and all other subsidiaries over which the Company exerts control. All intercompany profits, transactions and balances have been eliminated in consolidation. The Company has a 70% interest in Schuff and an 80% interest in Genovel. The results of Schuff and Genovel are consolidated with the Company’s results based on guidance from the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 810, “Consolidation” (“ASC 810”). The remaining interest not owned by the Company is presented as a non-controlling interest component of total equity.
Discontinued Operations	Discontinued Operations —In the second quarter of 2013 , the Company sold its BLACKIRON Data segment and reiterated its June 2012 commitment to dispose of ICS. In addition, in the second quarter of 2013 , the Company entered into a definitive purchase agreement to sell its North America Telecom business and sought shareholder approval of such transaction. On July 31, 2013, the Company completed the initial closing of the sale of its North America Telecom business (see Note 17—“Discontinued Operations”). In conjunction with the initial closing of the sale of the North America Telecom business, the Company redeemed its outstanding debt on August 30, 2013. Because the debt was required to be repaid as a result of the sale of North America Telecom, the interest expense and loss on early extinguishment or restructuring of debt of PTGi International Holding, Inc. has been allocated to discontinued operations. In December 2013 , based on management’s assessment of the requirements under ASC No. 360, “Property, Plant and Equipment” (“ASC 360”), it was determined that ICS no longer met the criteria of a held for sale asset. On February 11, 2014, the Board of Directors officially ratified management’s December 2013 assessment, and reclassified ICS from held for sale to held and used, effective December 31, 2013 . The Company has applied retrospective adjustments for the three and six months ended June 30, 2013 to reflect the effects of the discontinued operations that occurred during 2013 . Accordingly, revenue, costs and expenses of the discontinued operations have been excluded from the respective captions in the condensed consolidated statements of operations. In addition, the Company has applied retrospective adjustments for the three and six months ended June 30, 2013 to reflect the Company’s decision to cease its sale process of ICS. Accordingly, revenue, costs and expenses of ICS are now included in the respective captions in the condensed consolidated statements of operations. The assets and liabilities of the remaining portion of North America Telecom, PTI, have been classified as held for sale assets and liabilities. The held for sale assets and liabilities were removed from the specific line items on the condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013 . See Note 17—“Discontinued Operations,” for further information regarding these transactions.
Foreign Currency Transactions	Foreign Currency Transactions —Foreign currency transactions are transactions denominated in a currency other than a subsidiary’s functional currency. A change in the exchange rates between a subsidiary’s functional currency and the currency in which a transaction is denominated increases or decreases the expected amount of functional currency cash flows upon settlement of the transaction. That increase or decrease in expected functional currency cash flows is reported by the Company as a foreign currency transaction gain (loss). The primary component of the Company’s foreign currency transaction gain (loss) is due to agreements in place with certain subsidiaries in foreign countries regarding intercompany transactions. The Company anticipates repayment of these transactions in the foreseeable future, and recognizes the realized and unrealized gains or losses on these transactions that result from foreign currency changes in the period in which they occur as foreign currency transaction gain (loss).
Foreign Currency Translation	Foreign Currency Translation —The assets and liabilities of the Company’s foreign subsidiaries are translated at the exchange rates in effect on the reporting date. Income and expenses are translated at the average exchange rate during the period. The net effect of such translation gains and losses are reflected within accumulated other comprehensive income (loss) in the stockholders’ equity section of the condensed consolidated balance sheets.
Accounts Receivable	Accounts Receivable —Accounts receivable is stated at amounts due from customers net of an allowance for doubtful accounts. Our allowance for doubtful accounts considers historical experience, the age of certain receivable balances, credit history, current economic conditions and other factors that may affect the counterparty’s ability to pay.
Inventories	Inventories —Inventories, primarily steel components, are stated at the lower of cost or market under the first-in, first-out method.
Investments	Investments —Investments in non-wholly-owned companies are generally consolidated or accounted for under the equity method of accounting when the Company has a 20% to 50% ownership interest or exercises significant influence over the venture. If the Company’s interest exceeds 50% , or if the Company has the power to direct the economic activities of the entity and the obligation to absorb losses, the results of the non-wholly-owned company are consolidated herein. All other investments are generally accounted for under the cost method.
Deferred Financing Costs	Deferred Financing Costs —The Company capitalizes certain expenses incurred in connection with its long-term debt and line of credit obligations and amortizes them over the term of the respective debt agreement. The amortization expense of the deferred financing costs is included in interest expense on the condensed consolidated statements of operations. If the Company redeems portions of its long-term debt prior to the maturity date, deferred financing costs are charged to expense on a pro rata basis and is included in loss on early extinguishment or restructuring of debt on the condensed consolidated statements of operations.
Property, Plant and Equipment	Property, Plant and Equipment —Property, plant and equipment are stated at cost less accumulated depreciation, which is provided on the straight-line method over the estimated useful lives of the assets. Cost includes major expenditures for improvements and replacements which extend useful lives or increase capacity of the assets as well as expenditures necessary to place assets into readiness for use. Expenditures for maintenance and repairs are expensed as incurred. Depreciation is determined on a straight-line basis over the estimated useful lives of the assets, which range from 5 to 40 years for buildings and improvements and 3 to 15 years for machinery and equipment. Leasehold improvements are amortized over the lives of the leases or estimated useful lives of the assets, whichever is shorter. Costs for internal use software that are incurred in the preliminary project stage and in the post-implementation stage are expensed as incurred. Costs incurred during the application development stage are capitalized and amortized over the estimated useful life of the software. When assets are sold or otherwise retired, the costs and accumulated depreciation are removed from the books and the resulting gain or loss is included in operating results. Property, plant and equipment that have been included as part of the assets held for sale are no longer depreciated from the time that they are classified as such. The Company periodically evaluates the carrying value of its property, plant and equipment based upon the estimated cash flows to be generated by the related assets. If impairment is indicated, a loss is recognized.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets —Under ASC No. 350, “Intangibles—Goodwill and Other” (“ASC 350”), goodwill and indefinite lived intangible assets are not amortized but are reviewed annually for impairment, or more frequently, if impairment indicators arise. Intangible assets that have finite lives are amortized over their estimated useful lives and are subject to the provisions of ASC 360. Goodwill impairment is tested at least annually (October 1 st ) or when factors indicate potential impairment using a two-step process that begins with an estimation of the fair value of each reporting unit. Step 1 is a screen for potential impairment pursuant to which the estimated fair value of each reporting unit is compared to its carrying value. The Company estimates the fair values of each reporting unit by an estimation of the discounted cash flows of each of the reporting units based on projected earnings in the future (the income approach). If there is a deficiency (the estimated fair value of a reporting unit is less than its carrying value), a Step 2 test is required. Step 2 measures the amount of impairment loss, if any, by comparing the implied fair value of the reporting unit’s goodwill with its carrying amount. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination is determined; i.e., through an allocation of the fair value of a reporting unit to all of the assets and liabilities of that unit as if the reporting unit had been acquired in a business combination. If the carrying amount of the reporting unit goodwill exceeds the implied fair value of that goodwill, an impairment loss shall be recognized in an amount equal to that excess. The Company also may utilize the provisions of Accounting Standards Update (“ASU”) No. 2011-8, “Testing Goodwill for Impairment” (“ASU 2011-8”), which allows the Company to use qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Subsequent to classifying ICS as a discontinued operation in the second quarter of 2012 and its goodwill being classified as a held for sale asset, the reporting units were Canada and US. Subsequent to the sale of North America Telecom (which included the Canada reporting unit) in the third quarter of 2013, the Company had no goodwill attributable to the remaining US reporting unit. The US reporting unit goodwill was attributable to PTI, the unsold portion of North America Telecom, and was included in assets held for sale. As a result of the decision to cease the sale process of ICS as of December 31, 2013 , ICS became a reporting unit and its goodwill was reclassified as a held and used asset. With the acquisition of Schuff in May 2014, Schuff became a reporting unit and will be subject to annual testing for impairment on October 1 st . Estimating the fair value of a reporting unit requires various assumptions including projections of future cash flows, perpetual growth rates and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s assessment of a number of factors, including the reporting unit’s recent performance against budget, performance in the market that the reporting unit serves, and industry and general economic data from third party sources. Discount rate assumptions are based on an assessment of the risk inherent in those future cash flows. Changes to the underlying businesses could affect the future cash flows, which in turn could affect the fair value of the reporting unit. Intangible assets not subject to amortization are tested for impairment annually, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test shall consist of a comparison of the fair value of an intangible asset with its carrying amount. If the carrying amount of the intangible asset exceeds its fair value, an impairment loss shall be recognized in an amount equal to the excess. Intangible assets subject to amortization consists of certain trade names. These finite lived intangible assets are amortized based on their estimated useful lives. Such assets are subject to the impairment provisions of ASC 360, wherein impairment is recognized and measured only if there are events and circumstances that indicate that the carrying amount may not be recoverable. The carrying amount is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use of the asset group. An impairment loss is recorded if after determining that it is not recoverable, the carrying amount exceeds the fair value of the asset. In addition to the foregoing, the Company reviews its goodwill and intangible assets for possible impairment whenever events or circumstances indicate that the carrying amounts of assets may not be recoverable. The factors that the Company considers important, and which could trigger an impairment review, include, but are not limited to: a more likely than not expectation of selling or disposing all, or a portion, of a reporting unit; a significant decline in the market value of our common stock or debt securities for a sustained period; a material adverse change in economic, financial market, industry or sector trends; a material failure to achieve operating results relative to historical levels or projected future levels; and significant changes in operations or business strategy.
Valuation of Long-lived Assets	Valuation of Long-lived Assets (Held for Sale)— In conjunction with the Company’s entry into definitive agreements with respect to the sale of North America Telecom, which was substantially completed on July 31, 2013, the Company classifies the net assets of the remaining portion of North America Telecom, PTI, as held for sale and is required to measure them at the lower of carrying value or fair value less costs to sell. In addition, the Company classifies the fair value of an aircraft, as held for sale. Prior to December 31, 2013 , ICS was included in held for sale assets. Under ASC 360, when a long-lived asset previously classified as held for sale is reclassified as held and used, the assets and liabilities are measured individually at the lower of the (1) carrying value prior to its held for sale classification, adjusted for any depreciation and amortization that would have been recognized and (2) the fair value as of the date of the decision not to sell. The Company determined that the carrying value of the current assets and current liabilities of ICS approximate fair value. With respect to the carrying value of the property and equipment of ICS, the Company first recorded depreciation for the period July 1, 2012 through December 31, 2013 and subsequently impaired any assets that had no future benefit. The resulting adjusted carrying value of ICS was lower than its fair value. The goodwill of ICS was tested for impairment under ASC 350 using a Step 1 and Step 2 approach. Because the fair value of ICS exceeded its adjusted carrying value under Step 1, no further analysis was required. The Company makes significant assumptions and estimates in the process of determining fair value regarding matters that are inherently uncertain, such as estimating future cash flows, discount rates and growth rates. The resulting cash flows are projected over an extended period of time, which subjects those assumptions and estimates to an even larger degree of uncertainty. While the Company believes that its estimates are reasonable, different assumptions could materially affect the valuation of the net assets. The current year analysis of carrying value and fair value less costs to sell is disclosed in Note 17—“Discontinued Operations.” Valuation of Long-lived Assets (Held and Used) —The Company reviews long-lived assets whenever events or changes indicate that the carrying amount of an asset may not be recoverable. In making such evaluations, the Company compares the expected undiscounted future cash flows to the carrying amount of the assets. If the total of the expected undiscounted future cash flows is less than the carrying amount of the assets, the Company is required to make estimates of the fair value of the long-lived assets in order to calculate the impairment loss equal to the difference between the fair value and carrying value of the assets. The Company makes significant assumptions and estimates in this process regarding matters that are inherently uncertain, such as determining asset groups and estimating future cash flows, remaining useful lives, discount rates and growth rates. The resulting undiscounted cash flows are projected over an extended period of time, which subjects those assumptions and estimates to an even larger degree of uncertainty. While the Company believes that its estimates are reasonable, different assumptions could materially affect the valuation of the long-lived assets. The Company derives future cash flow estimates from its historical experience and its internal business plans, which include consideration of industry trends, competitive actions, technology changes, regulatory actions, available financial resources for marketing and capital expenditures and changes in its underlying cost structure. The Company makes assumptions about the remaining useful life of its long-lived assets. The assumptions are based on the average life of its historical capital asset additions and its historical asset purchase trend. In some cases, due to the nature of a particular industry in which the company operates, the Company may assume that technology changes in such industry render all associated assets, including equipment, obsolete with no salvage value after their useful lives. In certain circumstances in which the underlying assets could be leased for an additional period of time or salvaged, the Company includes such estimated cash flows in its estimate. The estimate of the appropriate discount rate to be used to apply the present value technique in determining fair value was the Company’s weighted average cost of capital which is based on the effective rate of its long-term debt obligations at the current market values (for periods during which the Company had long-term debt obligations) as well as the current volatility and trading value of the Company’s common stock.
Use of Estimates	Use of Estimates —The preparation of Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of net revenue and expenses during the reporting period. Actual results may differ from these estimates. Significant estimates include allowance for doubtful accounts receivable, accrued interconnection cost disputes, the extent of progress towards completion on contracts, contract revenue and costs on long-term contracts, market assumptions used in estimating the fair values of certain assets and liabilities, the calculation used in determining the fair value of HC2’s stock options required by ASC No. 718, “Compensation—Stock Compensation” (“ASC 718”), income taxes and various other contingencies. Estimates of fair value represent the Company’s best estimates developed with the assistance of independent appraisals or various valuation techniques and, where the foregoing have not yet been completed or are not available, industry data and trends and by reference to relevant market rates and transactions. The estimates and assumptions are inherently subject to significant uncertainties and contingencies beyond the control of the Company. Accordingly, the Company cannot provide assurance that the estimates, assumptions, and values reflected in the valuations will be realized, and actual results could vary materially.
Revenue and Cost Recognition	Revenue and Cost Recognition (Schuff) —Schuff performs its services primarily under fixed-price contracts and recognizes revenues and costs from construction projects using the percentage of completion method. Under this method, revenue is recognized based upon either the ratio of the costs incurred to date to the total estimated costs to complete the project or the ratio of tons fabricated to date to total estimated tons. Revenue recognition begins when work has commenced. Costs include all direct material and labor costs related to contract performance, subcontractor costs, indirect labor, and fabrication plant overhead costs, which are charged to contract costs as incurred. Revenues relating to changes in the scope of a contract are recognized when the work has commenced, Schuff has made an estimate of the amount that is probable of being paid for the change and there is a high degree of probability that the charges will be approved by the customer or general contractor. At June 30, 2014 , Schuff had $27.7 million of unapproved change orders on open projects, for which it has recognized revenues on a percent complete basis. While Schuff has been successful in having the majority of its change orders approved in prior years, there is no guarantee that the majority of unapproved change orders at June 30, 2014 will be approved. Revisions in estimates during the course of contract work are reflected in the accounting period in which the facts requiring the revision become known. Provisions for estimated losses on uncompleted contracts are made in the period a loss on a contract becomes determinable. Construction contracts with customers generally provide that billings are to be made monthly in amounts which are commensurate with the extent of performance under the contracts. Contract receivables arise principally from the balance of amounts due on progress billings on jobs under construction. Retentions on contract receivables are amounts due on progress billings, which are withheld until the completed project has been accepted by the customer. Costs and recognized earnings in excess of billings on uncompleted contracts primarily represent revenue earned under the percentage of completion method which has not been billed. Billings in excess of related costs and recognized earnings on uncompleted contracts represent amounts billed on contracts in excess of the revenue allowed to be recognized under the percentage of completion method on those contracts. Revenue and Cost Recognition (Telecommunications) —Net revenue is derived from carrying a mix of business, residential and carrier long-distance traffic, data and Internet traffic. For certain voice services, net revenue is earned based on the number of minutes during a call, and are recorded upon completion of a call. Revenue for a period is calculated from information received through the Company’s network switches. Customized software has been designed to track the information from the switch and analyze the call detail records against stored detailed information about revenue rates. This software provides the Company the ability to do a timely and accurate analysis of revenue earned in a period. Separate prepaid services software is used to track additional information related to prepaid service usage such as activation date, monthly usage amounts and expiration date. Revenue on these prepaid services is recognized as service is provided until expiration, when all unused minutes, which are no longer available to the customers, are recognized as revenue. Net revenue is also earned on a fixed monthly fee basis for unlimited local and long-distance voice plans and for the provision of data/Internet services (including retail VoIP), hosting, and colocation. In the United States, we charge customers Federal Universal Service Fund (“USF”) fees. We recognize revenue on a gross basis for USF and related fees. We record these fees as revenue when billed. Net revenue represents gross revenue, net of allowance for doubtful accounts receivable, service credits and service adjustments. Cost of revenue includes network costs that consist of access, transport and termination costs. The majority of the Company’s cost of revenue is variable, primarily based upon minutes of use, with transmission and termination costs being the most significant expense. Cost of revenue also includes fees such as Federal USF fees. Such costs are recognized when incurred in connection with the provision of telecommunications services.
Income (Loss) Per Common Share	Income (Loss) Per Common Share —Basic income (loss) per common share is computed using the weighted average number of shares of common stock outstanding during the year. Diluted income (loss) per common share is computed using the weighted average number of shares of common stock, adjusted for the dilutive effect of potential common stock and related income from continuing operations, net of tax. Potential common stock, computed using the treasury stock method or the if-converted method, includes options, restricted stock units, warrants and convertible preferred stock.
Reclassification	Reclassification —Certain previous year amounts have been reclassified to conform with current year presentations, as related to the reporting of the Company’s discontinued operations and new balance sheet line items.
Newly Adopted Accounting Principles	Newly Adopted Accounting Principles In July 2013, an update was issued to the Income Taxes Topic No. 740, ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” which indicates that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. Early adoption is permitted and this accounting update should be applied prospectively from the beginning of the fiscal year of adoption. On January 1, 2014, the Company adopted this update, which did not have a material impact on the Condensed Consolidated Financial Statements. In March 2013, an update was issued to the Foreign Currency Matters Topic No. 830, ASU 2013-5, “Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity,” which indicates that the entire amount of a cumulative translation adjustment related to an entity’s investment in a foreign entity should be released when there has been a (1) sale of a subsidiary or group of net assets within a foreign entity and the sale represents the substantially complete liquidation of the investment in the foreign entity; (2) loss of a controlling financial interest in an investment in a foreign entity; or (3) step acquisition for a foreign entity. Early adoption is permitted and this accounting update should be applied prospectively from the beginning of the fiscal year of adoption. On January 1, 2014, the Company adopted this update, which did not have a material impact on the Condensed Consolidated Financial Statements. In February 2013, an update was issued to the Liabilities Topic No. 405, ASU 2013-4, “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date,” which indicates reporting entities are required to measure obligations resulting from certain joint and several liability arrangements where the total amount of the obligation is fixed as of the reporting date, as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among co-obligors and any additional amounts the reporting entity expects to pay on behalf of its co-obligors. On January 1, 2014, the Company adopted this update, which did not have a material impact on the Condensed Consolidated Financial Statements. New Accounting Pronouncements In June 2014 , the FASB issued ASU 2014–12, “Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force),” in response to the EITF consensus on Issue 13-D. The ASU clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. The ASU does not contain any new disclosure requirements. Early adoption is permitted. The Company’s effective date for adoption is January 1, 2016. The Company does not expect this accounting update to have a material effect on its Condensed Consolidated Financial Statements in future periods, although that could change. In May 2014, the FASB and IASB issued their final standard on revenue from contracts with customers. The standard, issued as ASU 2014-9, “Revenue from Contracts with Customers (Topic 606),” by the FASB and as IFRS 15 by the IASB, outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that “an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” In applying the revenue model to contracts within its scope, an entity: • Identifies the contract(s) with a customer (step 1). • Identifies the performance obligations in the contract (step 2). • Determines the transaction price (step 3). • Allocates the transaction price to the performance obligations in the contract (step 4). • Recognizes revenue when (or as) the entity satisfies a performance obligation (step 5). The ASU applies to all contracts with customers except those that are within the scope of other topics in the FASB Accounting Standards Codification. Certain of the ASU’s provisions also apply to transfers of nonfinancial assets, including in-substance nonfinancial assets that are not an output of an entity’s ordinary activities (e.g., sales of (1) property, plant, and equipment; (2) real estate; or (3) intangible assets). Existing accounting guidance applicable to these transfers (e.g., ASC 360-20) has been amended or superseded. Compared with current U.S. GAAP, the ASU also requires significantly expanded disclosures about revenue recognition. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-9 recognized disclosures. We are currently evaluating the impact of our pending adoption of ASU 2014-9 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2017. In April 2014, an update was issued to the Presentation of Financial Statements Topic No. 205 and Property, Plant and Equipment Topic No. 360, ASU 2014-8, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”, which changes the criteria for reporting discontinued operations. The ASU revises the definition of a discontinued operation and expands the disclosure requirements. Entities should not apply the amendments to a component of an entity that is classified as held for sale before the effective date even if it is disposed of after the effective date. That is, the ASU must be adopted prospectively. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been previously reported in the financial statements. The Company’s effective date for adoption is January 1, 2015. The Company does not expect this accounting update to have a material effect on its Condensed Consolidated Financial Statements in future periods, although that could change.

Organization and Business Organ

Organization and Business Organization and Business (Tables)	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following tables provide a reconciliation of the amounts previously reported to the restated amounts for the quarter ended June 30, 2014: HC2 HOLDINGS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended June 30, 2014 Six Months Ended June 30, 2014 As Reported Adjustments As Restated As Reported Adjustments As Restated NET REVENUE $ 96,586 $ — $ 96,586 $ 139,940 $ — $ 139,940 OPERATING EXPENSES Cost of revenue 82,860 — 82,860 123,967 — 123,967 Selling, general and administrative 14,032 (536 ) 13,496 20,236 (536 ) 19,700 Depreciation and amortization 344 — 344 554 — 554 (Gain) loss on sale or disposal of assets 447 (445 ) 2 367 (445 ) (78 ) Total operating expenses 97,683 (981 ) 96,702 145,124 (981 ) 144,143 LOSS FROM OPERATIONS (1,097 ) 981 (116 ) (5,184 ) 981 (4,203 ) INTEREST EXPENSE (1,012 ) — (1,012 ) (1,013 ) — (1,013 ) ACCRETION ON DEBT DISCOUNT (576 ) — (576 ) (576 ) — (576 ) GAIN FROM CONTINGENT VALUE RIGHTS VALUATION — — — — — — INTEREST INCOME AND OTHER EXPENSE, net 1,665 (1,121 ) 544 1,616 (1,121 ) 495 FOREIGN CURRENCY TRANSACTION GAIN (LOSS) 437 — 437 403 — 403 INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (583 ) (140 ) (723 ) (4,754 ) (140 ) (4,894 ) INCOME TAX EXPENSE (1,946 ) (208 ) (2,154 ) (1,955 ) (208 ) (2,163 ) INCOME (LOSS) FROM CONTINUING OPERATIONS (2,529 ) (348 ) (2,877 ) (6,709 ) (348 ) (7,057 ) INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax 27 — 27 44 — 44 GAIN (LOSS) FROM SALE OF DISCONTINUED OPERATIONS, net of tax — — — (784 ) — (784 ) NET INCOME (LOSS) (2,502 ) (348 ) (2,850 ) (7,449 ) (348 ) (7,797 ) Less: Net (income) loss attributable to noncontrolling interest (1,059 ) — (1,059 ) (1,059 ) — (1,059 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (3,561 ) (348 ) (3,909 ) (8,508 ) (348 ) (8,856 ) Less: Preferred stock dividends and accretion 200 — 200 200 — 200 NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS $ (3,761 ) $ (348 ) $ (4,109 ) $ (8,708 ) $ (348 ) $ (9,056 ) BASIC INCOME (LOSS) PER COMMON SHARE: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.22 ) $ (0.02 ) $ (0.24 ) $ (0.50 ) $ (0.02 ) $ (0.52 ) Income (loss) from discontinued operations — — — — — — Gain (loss) from sale of discontinued operations — — — (0.05 ) — (0.05 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (0.22 ) $ (0.02 ) $ (0.24 ) $ (0.55 ) $ (0.02 ) $ (0.57 ) DILUTED INCOME (LOSS) PER COMMON SHARE: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.22 ) $ (0.02 ) $ (0.24 ) $ (0.50 ) $ (0.02 ) $ (0.52 ) Income (loss) from discontinued operations — — — — — — Gain (loss) from sale of discontinued operations — — — (0.05 ) — (0.05 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (0.22 ) $ (0.02 ) $ (0.24 ) $ (0.55 ) $ (0.02 ) $ (0.57 ) WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic 16,905 — 16,905 15,780 — 15,780 Diluted 16,905 — 16,905 15,780 — 15,780 AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF HC2 HOLDINGS, INC. Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (3,788 ) $ (348 ) $ (4,136 ) $ (7,968 ) $ (348 ) $ (8,316 ) Income (loss) from discontinued operations 27 — 27 44 — 44 Gain (loss) from sale of discontinued operations — — — (784 ) — (784 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (3,761 ) $ (348 ) $ (4,109 ) $ (8,708 ) $ (348 ) $ (9,056 ) HC2 HOLDINGS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in thousands) Three Months Ended June 30, 2014 Six Months Ended June 30, 2014 As Reported Adjustments As Restated As Reported Adjustments As Restated NET INCOME (LOSS) $ (2,502 ) $ (348 ) $ (2,850 ) $ (7,449 ) $ (348 ) $ (7,797 ) OTHER COMPREHENSIVE INCOME (LOSS) Foreign currency translation adjustment 238 — 238 (136 ) — (136 ) Less: Comprehensive (income) attributable to the noncontrolling interest (1,059 ) — (1,059 ) (1,059 ) — (1,059 ) COMPREHENSIVE INCOME ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (3,323 ) $ (348 ) $ (3,671 ) $ (8,644 ) $ (348 ) $ (8,992 ) HC2 HOLDING, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) As of June 30, 2014 As Reported Adjustments As Restated ASSETS CURRENT ASSETS: Cash and cash equivalents $ 40,831 $ — $ 40,831 Investments 757 — 757 Accounts receivable (net of allowance for doubtful accounts receivable of $2,089 and $2,476 at June 30, 2014 and December 31, 2013, respectively) 138,043 — 138,043 Costs and recognized earnings in excess of billings on uncompleted contracts 25,737 — 25,737 Inventories 16,990 — 16,990 Prepaid expenses and other current assets 37,826 (208 ) 37,618 Assets held for sale 9,251 — 9,251 Total current assets 269,435 (208 ) 269,227 PROPERTY, PLANT AND EQUIPMENT – Net 83,226 445 83,671 GOODWILL 27,911 79 27,990 OTHER INTANGIBLE ASSETS – Net 4,615 — 4,615 OTHER ASSETS 6,568 — 6,568 TOTAL ASSETS $ 391,755 $ 316 $ 392,071 LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $ 51,247 $ — $ 51,247 Accrued interconnection costs 9,815 — 9,815 Accrued payroll and employee benefits 13,366 — 13,366 Accrued expenses and other current liabilities 17,715 — 17,715 Billings in excess of costs and recognized earnings on uncompleted contracts 58,218 — 58,218 Accrued income taxes — — — Accrued interest 712 — 712 Current portion of long-term debt 36,781 — 36,781 Liabilities held for sale 4,259 — 4,259 Total current liabilities 192,113 — 192,113 LONG-TERM DEBT 49,170 — 49,170 DEFERRED TAX LIABILITY 7,799 — 7,799 OTHER LIABILITIES 1,028 — 1,028 Total liabilities 250,110 — 250,110 COMMITMENTS AND CONTINGENCIES (See Note 10) TEMPORARY EQUITY (See Note 13) Preferred stock, $0.001 par value – 20,000,000 shares authorized; 30,000 and 0 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively 29,075 — 29,075 Total temporary equity 29,075 — 29,075 STOCKHOLDERS’ EQUITY: Common stock, $0.001 par value – 80,000,000 shares authorized; 20,543,595 and 14,257,545 shares issued and 20,511,969 and 14,225,919 shares outstanding at June 30, 2014 and December 31, 2013, respectively 21 — 21 Additional paid-in capital 119,724 664 120,388 Retained earnings (accumulated deficit) (38,281 ) (348 ) (38,629 ) Treasury stock, at cost – 31,626 shares at June 30, 2014 and December 31, 2013, respectively (378 ) — (378 ) Accumulated other comprehensive loss (14,188 ) — (14,188 ) Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest 66,898 316 67,214 Non-controlling interest 45,672 — 45,672 Total permanent equity 112,570 316 112,886 TOTAL LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY $ 391,755 $ 316 $ 392,071 HC2 HOLDINGS, INC. CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY (in thousands) As of June 30, 2014 As Reported Adjustments As Restated Common Stock $ 21 $ — $ 21 Additional Paid-In Capital 119,724 664 120,388 Treasury Stock (378 ) — (378 ) Earnings (Accumulated Deficit) (38,281 ) (348 ) (38,629 ) Accumulated Other Comprehensive Income (Loss) (14,188 ) — (14,188 ) Noncontrolling Interest 45,672 — 45,672 Total Stockholders' Equity $ 112,570 $ 316 $ 112,886 HC2 HOLDINGS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Six Months Ended June 30, 2014 As Reported Adjustments As Restated CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (7,449 ) $ (348 ) $ (7,797 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Provision for doubtful accounts receivable (198 ) — (198 ) Share-based compensation expense 1,006 664 1,670 Depreciation and amortization 1,038 — 1,038 Amortization of deferred financing costs 262 — 262 (Gain) loss on sale or disposal of assets 1,760 (445 ) 1,315 (Gain) loss on sale of investments (437 ) — (437 ) Accretion of debt discount 576 — 576 Change in fair value of Contingent Value Rights — — — Deferred income taxes 1 208 209 Unrealized foreign currency transaction (gain) loss on intercompany and foreign debt (125 ) — (125 ) Changes in assets and liabilities, net of acquisitions: (Increase) decrease in accounts receivable 11,936 — 11,936 (Increase) decrease in costs and recognized earnings in excess of billings on uncompleted contracts 1,389 — 1,389 (Increase) decrease in inventories (2,503 ) — (2,503 ) (Increase) decrease in prepaid expenses and other current assets 6,241 (2,079 ) 4,162 (Increase) decrease in other assets 929 — 929 Increase (decrease) in accounts payable 6,304 — 6,304 Increase (decrease) in accrued interconnection costs (2,896 ) — (2,896 ) Increase (decrease) in accrued payroll and employee benefits 728 (1,200 ) (472 ) Increase (decrease) in accrued expenses, other current liabilities and other liabilities, net (1,069 ) — (1,069 ) Increase (decrease) in billings in excess of costs and recognized earnings on uncompleted contracts (7,766 ) — (7,766 ) Increase (decrease) in accrued income taxes (1,291 ) — (1,291 ) Increase (decrease) in accrued interest 634 — 634 Net cash provided by (used in) operating activities 9,070 (3,200 ) 5,870 CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property, plant and equipment (663 ) — (663 ) Sale of property and equipment and other assets 80 — 80 Sale of investments, net 423 — 423 Cash from disposition of business, net of cash disposed — 3,200 3,200 Cash paid for business acquisitions, net of cash acquired (85,627 ) — (85,627 ) Purchase of noncontrolling interest (5,000 ) — (5,000 ) Decrease in restricted cash — — — Net cash (used in) provided by investing activities (90,787 ) 3,200 (87,587 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from long-term obligations 123,412 — 123,412 Principal payments on long-term obligations (57,703 ) — (57,703 ) Payment of fees on restructuring of debt (812 ) — (812 ) Proceeds from sale of common stock, net 6,000 — 6,000 Proceeds from sale of preferred stock, net 29,075 — 29,075 Proceeds from the exercise of warrants and stock options 14,368 — 14,368 Payment of dividend equivalents (551 ) — (551 ) Taxes paid in lieu of shares issued for share-based compensation (41 ) — (41 ) Net cash provided by (used) in financing activities 113,748 — 113,748 EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (197 ) (197 ) NET CHANGE IN CASH AND CASH EQUIVALENTS 31,834 — 31,834 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 8,997 — 8,997 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 40,831 $ — $ 40,831 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest $ 194 $ — $ 194 Cash paid for taxes $ 2,311 $ — $ 2,311 Non-cash investing and financing activities: Capital lease additions $ — $ — $ —

Accounts Receivable and Contr29

Accounts Receivable and Contracts in Progress (Tables)	6 Months Ended
	Jun. 30, 2014
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable consist of the following (in thousands): June 30, December 31, Contract receivables: Contracts in progress $ 87,859 $ — Unbilled retentions 33,099 — Trade receivables 18,846 21,456 Other receivables 328 — Allowance for doubtful accounts (2,089 ) (2,476 ) $ 138,043 $ 18,980
Costs and Recognized Earnings in Excess of Billings and Billings in Excess of Costs and Recognized Earnings on Uncompleted Contracts	Costs and recognized earnings in excess of billings on uncompleted contracts and billings in excess of costs and recognized earnings on uncompleted contracts consist of the following: June 30, December 31, Costs incurred on contracts in progress $ 561,453 $ — Estimated earnings 73,346 — 634,799 — Less progress billings 667,280 — $ (32,481 ) $ — The above is included in the accompanying condensed consolidated balance sheet under the following captions: Costs and recognized earnings in excess of billings on uncompleted contracts 25,737 — Billings in excess of costs and recognized earnings on uncompleted contracts (58,218 ) — $ (32,481 ) $ —

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories consist of the following (in thousands): June 30, December 31, Raw materials $ 16,502 $ — Work in process 298 — Finished goods 190 — $ 16,990 $ —

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]
Schedule of Purchase Price Allocation	The preliminary purchase price allocation (as restated) is as follows (in thousands): Cash and cash equivalents $ (627 ) Investments 1,714 Accounts receivable 130,622 Costs and recognized earnings in excess of billings on uncompleted contracts 27,126 Prepaid expenses and other current assets 3,079 Inventories 14,487 Property and equipment, net 85,662 Goodwill 24,612 Trade names 4,478 Other assets 2,947 Total assets acquired 294,100 Accounts payable 37,621 Accrued payroll and employee benefits 11,668 Accrued expenses and other current liabilities 12,532 Billings in excess of costs and recognized earnings on uncompleted contracts 65,985 Accrued income taxes 1,202 Accrued interest 76 Current portion of long-term debt 15,460 Long-term debt 4,375 Deferred tax liability 7,815 Other liabilities 604 Noncontrolling interest 4,365 Total liabilities assumed 161,703 Enterprise value 132,397 Less fair value of noncontrolling interest 53,647 Purchase price attributable to controlling interest $ 78,750
Schedule of Acquired Amortizable Intangible Assets and Related Estimated Useful Lives	The acquired amortizable intangible assets and the related estimated useful lives consist of the following (in thousands): Preliminary Estimated Useful Lives Preliminary Estimated Value May 29, 2014 Trade names 15 years $ 4,478 Total intangible assets $ 4,478
Schedule of Unaudited Consolidated Pro Forma Results of Operations	The following schedule presents unaudited consolidated pro forma results of operations data as if the Schuff acquisition had occurred on January 1, 2013. This information does not purport to be indicative of the actual results that would have occurred if the acquisition had actually been completed on the date indicated, nor is it necessarily indicative of the future operating results or the financial position of the combined company (in thousands, except per share amounts): Three Months Ended June 30, 2014 (As Restated) 2013 Net revenue $ 169,184 $ 158,080 Net income (loss) from continuing operations (1,668 ) 4,317 Net income (loss) from discontinued operations 4 (567 ) Gain (loss) from sale of discontinued operations — 135,045 Net income (loss) attributable to HC2 Holdings, Inc. $ (1,664 ) $ 138,795 Basic income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.10 ) $ 0.31 Income (loss) from discontinued operations — (0.04 ) Gain (loss) from sale of discontinued operations — 9.67 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.10 ) $ 9.94 Diluted income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.10 ) $ 0.30 Income (loss) from discontinued operations — (0.04 ) Gain (loss) from sale of discontinued operations — 9.35 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.10 ) $ 9.61 Six Months Ended June 30, 2014 (As Restated) 2013 Net revenue $ 317,681 $ 305,000 Net income (loss) from continuing operations (3,764 ) (516 ) Net income (loss) from discontinued operations 12 1,819 Gain (loss) from sale of discontinued operations (784 ) 135,045 Net income (loss) attributable to HC2 Holdings, Inc. $ (4,536 ) $ 136,348 Basic income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.24 ) $ (0.04 ) Income (loss) from discontinued operations — 0.13 Gain (loss) from sale of discontinued operations (0.05 ) 9.69 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.29 ) $ 9.78 Diluted income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.24 ) $ (0.04 ) Income (loss) from discontinued operations — 0.13 Gain (loss) from sale of discontinued operations (0.05 ) 9.69 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.29 ) $ 9.78

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2014
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant and equipment consist of the following (in thousands): June 30, December 31, Land $ 18,872 $ — Buildings 24,142 — Building and leasehold improvements 3,375 386 Network equipment 5,348 5,303 Machinery and equipment 27,514 — Transportation equipment 1,165 — Furniture and fixtures 2,049 380 EDP equipment 1,967 — Construction in progress 2,556 — 86,988 6,069 Less accumulated depreciation and amortization 3,317 3,107 $ 83,671 $ 2,962

Accounts Payable (Tables)

Accounts Payable (Tables)	6 Months Ended
	Jun. 30, 2014
Payables and Accruals [Abstract]
Summary of Accounts Payable	Accounts payable consists of the following (in thousands): June 30, December 31, Accounts payable $ 47,557 $ 6,964 Retentions payable 3,690 — $ 51,247 $ 6,964

Long-Term Obligations (Tables)

Long-Term Obligations (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following (in thousands): June 30, December 31, Note payable collaterized by the Company’s assets, with interest payable quarterly based on alternate base rate or LIBOR plus applicable margin (starting at 7.5% for alternate base rate and 8.5% for LIBOR) and increases by 25 basis points every quarter with principal due in 2015 $ 70,314 $ — Note payable collaterized by Schuff’s real estate, with interest payable monthly at LIBOR plus 4% and principal payable monthly, maturing in 2019 4,948 — Note payable to a bank under a revolving line of credit agreement, collaterized by Schuff’s assets, with interest payable monthly at the LIBOR plus 3%, maturing in 2019 10,689 — 85,951 — Less current portion 36,781 — $ 49,170 $ —
Schedule of Aggregate Debt Maturities	Aggregate debt maturities are as follows (in thousands): 2014 $ 36,469 2015 45,472 2016 625 2017 625 2018 625 2019 2,135 $ 85,951

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Open Tax Years for Each Major Jurisdiction	The following table summarizes the open tax years for each major jurisdiction: Jurisdiction Open Tax Years United States Federal 2002—2013 United Kingdom 2005—2013 Netherlands 2008—2013

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Purchase Obligations and Non-Cancellable Operating Leases, Including Continuing Obligations of Discontinued Operations	Future minimum lease payments under non-cancellable operating leases, including continuing obligations of discontinued operations, as of June 30, 2014 are as follows (in thousands): Year Ending December 31, Operating Leases 2014 (as of June 30, 2014) $ 1,470 2015 2,456 2016 1,912 2017 1,217 2018 616 Thereafter 1,054 Total long-term obligations $ 8,725

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Fair Value of Each Option Grant Estimated	The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions shown as a weighted average for the year: Six Months Ended June 30, 2014 2013 Expected option life 5.87 years 5.75 years Risk-free interest rate 1.65% – 2.73% 1.32% Expected volatility 36.74% – 37.20% 35.55% Dividend yield —% —%
Summary of Company's Restricted Stock Units	A summary of HC2’s RSU activity during the six months ended June 30, 2014 is as follows: Shares Weighted Average Grant Date Fair Value Unvested - December 31, 2013 22,500 $ 13.59 Granted 4,261 $ 3.60 Vested (20,000 ) $ 13.82 Forfeitures — $ — Unvested - June 30, 2014 6,761 $ 6.67
Summary of Company's Stock Option Activity	A summary of HC2’s stock option activity during the six months ended June 30, 2014 is as follows: Shares Weighted Average Exercise Price Outstanding - December 31, 2013 589,859 $ 3.17 Granted 2,812,385 $ 4.32 Exercised (230,300 ) $ 2.43 Forfeitures (229,901 ) $ 4.47 Outstanding - June 30, 2014 2,942,043 $ 4.28 Eligible for exercise 1,056,467 $ 4.22
Intrinsic Values and Remaining Contractual Terms of Company's Stock Options	The following table summarizes the intrinsic values and remaining contractual terms of HC2’s stock options: Intrinsic Value Weighted Average Remaining Life in Years Options outstanding - June 30, 2014 $ 96,292 10.0 Options exercisable - June 30, 2014 $ 79,295 9.8

Operating Segment and Related38

Operating Segment and Related Information (Tables)	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]
Summary of Company's Operating Segments	Summary information with respect to the Company’s geographic and operating segments is as follows (in thousands): Three Months Ended Six Months Ended June 30, 2014 (As Restated) June 30, 2013 June 30, 2014 (As Restated) June 30, 2013 Net Revenue by Geographic Region United States $ 80,978 $ 23,635 $ 106,258 $ 47,263 United Kingdom 15,608 34,986 33,682 70,147 Total $ 96,586 $ 58,621 $ 139,940 $ 117,410 Net Revenue by Segment Telecommunications $ 42,111 $ 58,621 $ 85,465 $ 117,410 Manufacturing 54,475 — 54,475 — Total $ 96,586 $ 58,621 $ 139,940 $ 117,410 Income (Loss) from Operations Telecommunications (228 ) (4,646 ) (106 ) (9,023 ) Life Sciences (935 ) — (935 ) — Manufacturing 5,771 — 5,771 — Corporate (4,724 ) (6,845 ) (8,933 ) (7,970 ) Total $ (116 ) $ (11,491 ) $ (4,203 ) $ (16,993 ) Capital Expenditures Telecommunications $ 188 $ 3,438 $ 256 $ 9,955 Manufacturing 386 — 386 — Corporate — — 21 — Total $ 574 $ 3,438 $ 663 $ 9,955
Segment Reporting for Property and Equipment - Net and Assets	The above capital expenditures exclude assets acquired under terms of capital lease and vendor financing obligations. June 30, December 31, Property, Plant and Equipment – Net United States $ 83,171 $ 2,303 United Kingdom 500 659 Total $ 83,671 $ 2,962 June 30, December 31, Assets United States $ 379,497 $ 71,481 United Kingdom 12,574 16,199 Total $ 392,071 $ 87,680

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]
Summarized Operating Results of Discontinued Operations	Excluded from the table below, but included in assets held for sale, is $3.6 million which represents the fair value of the aircraft. Summarized assets and liabilities of the remaining portion of North America Telecom, PTI, classified as held for sale as of June 30, 2014 and December 31, 2013 are as follows (in thousands): North America Telecom (1) June 30, December 31, Accounts receivable $ 311 $ 670 Prepaid expenses and other current assets 550 839 Long-lived assets and other non-current assets 4,795 4,820 Assets held for sale $ 5,656 $ 6,329 Accounts payable $ 618 $ 869 Accrued interconnection costs 305 420 Accrued expenses and other liabilities 3,336 3,534 Liabilities held for sale $ 4,259 $ 4,823 (1) Included in the table above is the remaining goodwill of the US reporting unit of $3.7 million and customer relationships of $0.4 million , applicable to PTI.

Basic and Diluted Income (Los40

Basic and Diluted Income (Loss) Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]
Basic Income (Loss) Per Common Share to Diluted Income (Loss) Per Common Share	A calculation of basic income (loss) per common share to diluted income (loss) per common share is set forth below (in thousands, except per share amounts): Three Months Ended Six Months Ended 2014 (As Restated) 2013 2014 (As Restated) 2013 Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (4,136 ) $ 2,920 $ (8,316 ) $ (2,671 ) Income (loss) from discontinued operations 27 (607 ) 44 1,772 Gain (loss) from sale of discontinued operations — 135,045 (784 ) 135,045 Net income (loss) – basic $ (4,109 ) $ 137,358 $ (9,056 ) $ 134,146 Net income (loss) – diluted $ (4,109 ) $ 137,358 $ (9,056 ) $ 134,146 Weighted average common shares outstanding – basic 16,905 13,972 15,780 13,941 Weighted average common shares outstanding – diluted 16,905 14,436 15,780 13,941 Basic income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.24 ) $ 0.21 $ (0.52 ) $ (0.19 ) Income (loss) from discontinued operations — (0.04 ) — 0.12 Gain (loss) from sale of discontinued operations — 9.66 (0.05 ) 9.69 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.24 ) $ 9.83 $ (0.57 ) $ 9.62 Diluted income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.24 ) $ 0.20 $ (0.52 ) $ (0.19 ) Income (loss) from discontinued operations — (0.04 ) — 0.12 Gain (loss) from sale of discontinued operations — 9.35 (0.05 ) 9.69 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.24 ) $ 9.51 $ (0.57 ) $ 9.62

Organization and Business - Add

Organization and Business - Additional Information (Detail) $ in Thousands	May. 29, 2014USD ($)shares	Jun. 30, 2014USD ($)Segment	Jun. 30, 2013USD ($)
Business And Organization [Line Items]
Number of shares of common stock acquired | shares	2,500,000
Additional number of shares acquired | shares	198,411
Percentage of ownership interest acquired	65.00%
Aggregate consideration for shares acquired	$ 85,000
Proceeds from sale of preferred stock, net	30,000	$ 29,075	$ 0
Proceeds from sale of common stock, net		$ 6,000	$ 0
Proceeds from issuance of senior secured credit facility	$ 80,000
Debt instrument term	18 months
Date of acquisition		May 29, 2014
Increase in Company's ownership interest		70.00%
Number of reportable operating segments | Segment		3
Series A Convertible Participating Preferred Stock [Member]
Business And Organization [Line Items]
Proceeds from sale of common stock, net	$ 6,000
Schuff Hopsa Engineering, Inc. [Member]
Business And Organization [Line Items]
Minority interest percentage by non controlling interest	49.00%
Schuff. Empresas Hopsa, S.A. [Member]
Business And Organization [Line Items]
Minority interest percentage by non controlling interest	51.00%

Organization and Business - Rec

Organization and Business - Reconciliation of Previously Reported to Restated Consolidated Statements of Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET REVENUE	$ 96,586	$ 58,621	$ 139,940	$ 117,410
OPERATING EXPENSES
Cost of revenue	82,860	55,436	123,967	110,952
Selling, general and administrative	13,496	14,677	19,700	23,456
Depreciation and amortization	344	0	554	1
(Gain) loss on sale or disposal of assets	2	(1)	(78)	(6)
Total operating expenses	96,702	70,112	144,143	134,403
LOSS FROM OPERATIONS	(116)	(11,491)	(4,203)	(16,993)
INTEREST EXPENSE	(1,012)	(5)	(1,013)	(5)
ACCRETION ON DEBT DISCOUNT	(576)	0	(576)	0
GAIN FROM CONTINGENT VALUE RIGHTS VALUATION	0	14,792	0	14,904
INTEREST INCOME AND OTHER EXPENSE, net	544	(54)	495	(108)
FOREIGN CURRENCY TRANSACTION GAIN (LOSS)	437	(215)	403	(251)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(723)	3,027	(4,894)	(2,453)
INCOME TAX EXPENSE	(2,154)	(107)	(2,163)	(218)
INCOME (LOSS) FROM CONTINUING OPERATIONS	(2,877)	2,920	(7,057)	(2,671)
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax	27	(607)	44	1,772
GAIN (LOSS) FROM SALE OF DISCONTINUED OPERATIONS, net of tax	0	135,045	(784)	135,045
NET INCOME (LOSS)	(2,850)	137,358	(7,797)	134,146
Less: Net (income) loss attributable to noncontrolling interest	(1,059)	0	(1,059)	0
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC.	(3,909)	137,358	(8,856)	134,146
Less: Preferred stock dividends and accretion	(200)	0	(200)	0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	$ (4,109)	$ 137,358	$ (9,056)	$ 134,146
BASIC INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	$ (0.24)	$ 0.21	$ (0.52)	$ (0.19)
Income (loss) from discontinued operations (in USD per share)	0	(0.04)	0	0.12
Gain (loss) from sale of discontinued operations (in USD per share)	0	9.66	(0.05)	9.69
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	(0.24)	9.83	(0.57)	9.62
DILUTED INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	(0.24)	0.20	(0.52)	(0.19)
Income (loss) from discontinued operations (in USD per share)	0	(0.04)	0	0.12
Gain (loss) from sale of discontinued operations (in USD per share)	0	9.35	(0.05)	9.69
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	$ (0.24)	$ 9.51	$ (0.57)	$ 9.62
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in USD per share)	16,905	13,972	15,780	13,941
Diluted (in USD per share)	16,905	14,436	15,780	13,941
AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF HC2 HOLDINGS, INC.
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.	$ (4,136)	$ 2,920	$ (8,316)	$ (2,671)
Income (loss) from discontinued operations	27	(607)	44	1,772
Gain (loss) from sale of discontinued operations	0	135,045	(784)	135,045
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	(4,109)	$ 137,358	(9,056)	$ 134,146
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET REVENUE	96,586		139,940
OPERATING EXPENSES
Cost of revenue	82,860		123,967
Selling, general and administrative	14,032		20,236
Depreciation and amortization	344		554
(Gain) loss on sale or disposal of assets	447		367
Total operating expenses	97,683		145,124
LOSS FROM OPERATIONS	(1,097)		(5,184)
INTEREST EXPENSE	(1,012)		(1,013)
ACCRETION ON DEBT DISCOUNT	(576)		(576)
GAIN FROM CONTINGENT VALUE RIGHTS VALUATION	0		0
INTEREST INCOME AND OTHER EXPENSE, net	1,665		1,616
FOREIGN CURRENCY TRANSACTION GAIN (LOSS)	437		403
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(583)		(4,754)
INCOME TAX EXPENSE	(1,946)		(1,955)
INCOME (LOSS) FROM CONTINUING OPERATIONS	(2,529)		(6,709)
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax	27		44
GAIN (LOSS) FROM SALE OF DISCONTINUED OPERATIONS, net of tax	0		(784)
NET INCOME (LOSS)	(2,502)		(7,449)
Less: Net (income) loss attributable to noncontrolling interest	(1,059)		(1,059)
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC.	(3,561)		(8,508)
Less: Preferred stock dividends and accretion	200		200
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	$ (3,761)		$ (8,708)
BASIC INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	$ (0.22)		$ (0.50)
Income (loss) from discontinued operations (in USD per share)	0		0
Gain (loss) from sale of discontinued operations (in USD per share)	0		(0.05)
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	(0.22)		(0.55)
DILUTED INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	(0.22)		(0.50)
Income (loss) from discontinued operations (in USD per share)	0		0
Gain (loss) from sale of discontinued operations (in USD per share)	0		(0.05)
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	$ (0.22)		$ (0.55)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in USD per share)	16,905		15,780
Diluted (in USD per share)	16,905		15,780
AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF HC2 HOLDINGS, INC.
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.	$ (3,788)		$ (7,968)
Income (loss) from discontinued operations	27		44
Gain (loss) from sale of discontinued operations	0		(784)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	(3,761)		(8,708)
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET REVENUE	0		0
OPERATING EXPENSES
Cost of revenue	0		0
Selling, general and administrative	(536)		(536)
Depreciation and amortization	0		0
(Gain) loss on sale or disposal of assets	445		445
Total operating expenses	(981)		(981)
LOSS FROM OPERATIONS	981		981
INTEREST EXPENSE	0		0
ACCRETION ON DEBT DISCOUNT	0		0
GAIN FROM CONTINGENT VALUE RIGHTS VALUATION	0		0
INTEREST INCOME AND OTHER EXPENSE, net	(1,121)		(1,121)
FOREIGN CURRENCY TRANSACTION GAIN (LOSS)	0		0
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(140)		(140)
INCOME TAX EXPENSE	(208)		(208)
INCOME (LOSS) FROM CONTINUING OPERATIONS	(348)		(348)
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax	0		0
GAIN (LOSS) FROM SALE OF DISCONTINUED OPERATIONS, net of tax	0		0
NET INCOME (LOSS)	(348)		(348)
Less: Net (income) loss attributable to noncontrolling interest	0		0
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC.	(348)		(348)
Less: Preferred stock dividends and accretion	0		0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	$ (348)		$ (348)
BASIC INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	$ (0.02)		$ (0.02)
Income (loss) from discontinued operations (in USD per share)	0		0
Gain (loss) from sale of discontinued operations (in USD per share)	0		0
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	(0.02)		(0.02)
DILUTED INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	(0.02)		(0.02)
Income (loss) from discontinued operations (in USD per share)	0		0
Gain (loss) from sale of discontinued operations (in USD per share)	0		0
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	$ (0.02)		$ (0.02)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in USD per share)	0		0
Diluted (in USD per share)	0		0
AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF HC2 HOLDINGS, INC.
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.	$ (348)		$ (348)
Income (loss) from discontinued operations	0		0
Gain (loss) from sale of discontinued operations	0		0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	$ (348)		$ (348)

Organization and Business - R43

Organization and Business - Reconciliation of Previously Reported to Restated Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET INCOME (LOSS)	$ (2,850)	$ 137,358	$ (7,797)	$ 134,146
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	238	(3,240)	(136)	(5,560)
Less: Comprehensive (income) attributable to the noncontrolling interest	(1,059)	0	(1,059)	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO HC2 HOLDINGS, INC.	(3,671)	$ 134,118	(8,992)	$ 128,586
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET INCOME (LOSS)	(2,502)		(7,449)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	238		(136)
Less: Comprehensive (income) attributable to the noncontrolling interest	(1,059)		(1,059)
COMPREHENSIVE INCOME ATTRIBUTABLE TO HC2 HOLDINGS, INC.	(3,323)		(8,644)
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET INCOME (LOSS)	(348)		(348)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	0		0
Less: Comprehensive (income) attributable to the noncontrolling interest	0		0
COMPREHENSIVE INCOME ATTRIBUTABLE TO HC2 HOLDINGS, INC.	$ (348)		$ (348)

Organization and Business Org44

Organization and Business Organization and Business - Reconciliation of Previously Reported to Restated Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
CURRENT ASSETS:
Cash and cash equivalents	$ 40,831	$ 8,997	$ 171,178	$ 23,197
Investments	757	0
Accounts receivable (net of allowance for doubtful accounts receivable of $2,089 and $2,476 at June 30, 2014 and December 31, 2013, respectively)	138,043	18,980
Costs and recognized earnings in excess of billings on uncompleted contracts	25,737	0
Inventories	16,990	0
Prepaid expenses and other current assets	37,618	40,594
Assets held for sale	9,251	6,329
Total current assets	269,227	74,900
PROPERTY, PLANT AND EQUIPMENT – Net	83,671	2,962
GOODWILL	27,990	3,378
OTHER INTANGIBLE ASSETS – Net	4,615	0
OTHER ASSETS	6,568	6,440
TOTAL ASSETS	392,071	87,680
CURRENT LIABILITIES:
Accounts payable	51,247	6,964
Accrued interconnection costs	9,815	12,456
Accrued payroll and employee benefits	13,366	1,854
Accrued expenses and other current liabilities	17,715	5,550
Billings in excess of costs and recognized earnings on uncompleted contracts	58,218	0
Accrued income taxes	0	53
Accrued interest	712	0
Current portion of long-term debt	36,781	0
Liabilities held for sale	4,259	4,823
Total current liabilities	192,113	31,700
LONG-TERM DEBT	49,170	0
DEFERRED TAX LIABILITY	7,799	0
OTHER LIABILITIES	1,028	1,571
Total liabilities	$ 250,110	$ 33,271
COMMITMENTS AND CONTINGENCIES
TEMPORARY EQUITY
Preferred stock, $0.001 par value – 20,000,000 shares authorized; 30,000 and 0 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	$ 29,075	$ 0
Total temporary equity	29,075	0
STOCKHOLDERS' EQUITY:
Common stock, $0.001 par value – 80,000,000 shares authorized; 20,543,595 and 14,257,545 shares issued and 20,511,969 and 14,225,919 shares outstanding at June 30, 2014 and December 31, 2013, respectively	21	14
Additional paid-in capital	120,388	98,598
Retained earnings (accumulated deficit)	(38,629)	(29,773)
Treasury stock, at cost – 31,626 shares at June 30, 2014 and December 31, 2013, respectively	(378)	(378)
Accumulated other comprehensive loss	(14,188)	(14,052)
Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest	67,214	54,409
Non-controlling interest	45,672	0
Total permanent equity	112,886	54,409
TOTAL LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY	392,071	87,680
As Reported
CURRENT ASSETS:
Cash and cash equivalents	40,831	8,997
Investments	757
Accounts receivable (net of allowance for doubtful accounts receivable of $2,089 and $2,476 at June 30, 2014 and December 31, 2013, respectively)	138,043
Costs and recognized earnings in excess of billings on uncompleted contracts	25,737
Inventories	16,990
Prepaid expenses and other current assets	37,826
Assets held for sale	9,251
Total current assets	269,435
PROPERTY, PLANT AND EQUIPMENT – Net	83,226
GOODWILL	27,911
OTHER INTANGIBLE ASSETS – Net	4,615
OTHER ASSETS	6,568
TOTAL ASSETS	391,755
CURRENT LIABILITIES:
Accounts payable	51,247
Accrued interconnection costs	9,815
Accrued payroll and employee benefits	13,366
Accrued expenses and other current liabilities	17,715
Billings in excess of costs and recognized earnings on uncompleted contracts	58,218
Accrued income taxes	0
Accrued interest	712
Current portion of long-term debt	36,781
Liabilities held for sale	4,259
Total current liabilities	192,113
LONG-TERM DEBT	49,170
DEFERRED TAX LIABILITY	7,799
OTHER LIABILITIES	1,028
Total liabilities	$ 250,110
COMMITMENTS AND CONTINGENCIES
TEMPORARY EQUITY
Preferred stock, $0.001 par value – 20,000,000 shares authorized; 30,000 and 0 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	$ 29,075
Total temporary equity	29,075
STOCKHOLDERS' EQUITY:
Common stock, $0.001 par value – 80,000,000 shares authorized; 20,543,595 and 14,257,545 shares issued and 20,511,969 and 14,225,919 shares outstanding at June 30, 2014 and December 31, 2013, respectively	21
Additional paid-in capital	119,724
Retained earnings (accumulated deficit)	(38,281)
Treasury stock, at cost – 31,626 shares at June 30, 2014 and December 31, 2013, respectively	(378)
Accumulated other comprehensive loss	(14,188)
Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest	66,898
Non-controlling interest	45,672
Total permanent equity	112,570
TOTAL LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY	391,755
Adjustments
CURRENT ASSETS:
Cash and cash equivalents	0	$ 0
Investments	0
Accounts receivable (net of allowance for doubtful accounts receivable of $2,089 and $2,476 at June 30, 2014 and December 31, 2013, respectively)	0
Costs and recognized earnings in excess of billings on uncompleted contracts	0
Inventories	0
Prepaid expenses and other current assets	(208)
Assets held for sale	0
Total current assets	(208)
PROPERTY, PLANT AND EQUIPMENT – Net	445
GOODWILL	79
OTHER INTANGIBLE ASSETS – Net	0
OTHER ASSETS	0
TOTAL ASSETS	316
CURRENT LIABILITIES:
Accounts payable	0
Accrued interconnection costs	0
Accrued payroll and employee benefits	0
Accrued expenses and other current liabilities	0
Billings in excess of costs and recognized earnings on uncompleted contracts	0
Accrued income taxes	0
Accrued interest	0
Current portion of long-term debt	0
Liabilities held for sale	0
Total current liabilities	0
LONG-TERM DEBT	0
DEFERRED TAX LIABILITY	0
OTHER LIABILITIES	0
Total liabilities	$ 0
COMMITMENTS AND CONTINGENCIES
TEMPORARY EQUITY
Preferred stock, $0.001 par value – 20,000,000 shares authorized; 30,000 and 0 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	$ 0
Total temporary equity	0
STOCKHOLDERS' EQUITY:
Common stock, $0.001 par value – 80,000,000 shares authorized; 20,543,595 and 14,257,545 shares issued and 20,511,969 and 14,225,919 shares outstanding at June 30, 2014 and December 31, 2013, respectively	0
Additional paid-in capital	664
Retained earnings (accumulated deficit)	(348)
Treasury stock, at cost – 31,626 shares at June 30, 2014 and December 31, 2013, respectively	0
Accumulated other comprehensive loss	0
Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest	316
Non-controlling interest	0
Total permanent equity	316
TOTAL LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY	$ 316

Organization and Business - R45

Organization and Business - Reconciliation of Previously Reported to Restated Consolidated Balance Sheets (Additional Information) (Details) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable, allowance for doubtful accounts receivable	$ 2,089	$ 2,476
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	30,000	30,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	20,543,595	14,257,545
Common stock, shares outstanding	20,511,969	14,225,919
Treasury stock, shares	31,626	31,626

Organization and Business Org46

Organization and Business Organization and Business - Reconciliation of Previously Reported to Restated Consolidated Statements of Stockholders' Equity (Details) (Details) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	$ 112,886	$ 54,409
Common Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	21	14
Additional Paid-In Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	120,388	98,598
Treasury Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(378)	(378)
Earnings (Accumulated Deficit)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(38,629)	(29,773)
Accumulated Other Comprehensive Income (Loss)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(14,188)	$ (14,052)
Noncontrolling Interest
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	45,672
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	112,570
As Reported | Common Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	21
As Reported | Additional Paid-In Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	119,724
As Reported | Treasury Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(378)
As Reported | Earnings (Accumulated Deficit)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(38,281)
As Reported | Accumulated Other Comprehensive Income (Loss)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(14,188)
As Reported | Noncontrolling Interest
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	45,672
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	316
Adjustments | Common Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	0
Adjustments | Additional Paid-In Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	664
Adjustments | Treasury Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	0
Adjustments | Earnings (Accumulated Deficit)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(348)
Adjustments | Accumulated Other Comprehensive Income (Loss)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	0
Adjustments | Noncontrolling Interest
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	$ 0

Organization and Business - R47

Organization and Business - Reconciliation of Previously Reported to Restated Consolidate Statements of Cash Flows (Details) - USD ($) $ in Thousands	May. 29, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		$ (2,850)	$ 137,358	$ (7,797)	$ 134,146
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for doubtful accounts receivable				(198)	1,325
Share-based compensation expense		1,500	1,000	1,670	1,479
Depreciation and amortization				1,038	11,947
Amortization of deferred financing costs				262	0
(Gain) loss on sale or disposal of assets				1,315	(135,051)
(Gain) loss on sale of investments				(437)	0
Accretion of debt discount				576	64
Change in fair value of Contingent Value Rights		0	(14,792)	0	(14,904)
Deferred income taxes				209	(156)
Unrealized foreign currency transaction (gain) loss on intercompany and foreign debt				(125)	(134)
Changes in assets and liabilities, net of acquisitions:
(Increase) decrease in accounts receivable				11,936	(4,700)
(Increase) decrease in costs and recognized earnings in excess of billings on uncompleted contracts				1,389	0
(Increase) decrease in inventories				(2,503)	0
(Increase) decrease in prepaid expenses and other current assets				4,162	(154)
(Increase) decrease in other assets				929	2,195
Increase (decrease) in accounts payable				6,304	(968)
Increase (decrease) in accrued interconnection costs				(2,896)	(737)
Increase (decrease) in accrued payroll and employee benefits				(472)	0
Increase (decrease) in accrued expenses, other current liabilities and other liabilities, net				(1,069)	(4,441)
Increase (decrease) in billings in excess of costs and recognized earnings on uncompleted contracts				(7,766)	0
Increase (decrease) in accrued income taxes				(1,291)	230
Increase (decrease) in accrued interest				634	908
Net cash provided by (used in) operating activities				5,870	(8,951)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment				(663)	(9,955)
Sale of property and equipment and other assets				80	6
Sale of investments, net				423	0
Cash from disposition of business, net of cash disposed				3,200	169,569
Cash paid for business acquisitions, net of cash acquired				(85,627)	(397)
Purchase of noncontrolling interest				(5,000)	0
Decrease in restricted cash				0	222
Net cash (used in) provided by investing activities				(87,587)	159,445
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term obligations				123,412	0
Principal payments on long-term obligations				(57,703)	(123)
Payment of fees on restructuring of debt				(812)	0
Proceeds from sale of common stock, net				6,000	0
Proceeds from sale of preferred stock, net	$ 30,000			29,075	0
Proceeds from the exercise of warrants and stock options				14,368	199
Payment of dividend equivalents				(551)	(828)
Taxes paid in lieu of shares issued for share-based compensation				(41)	(837)
Net cash provided by (used) in financing activities				113,748	(1,589)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS				(197)	(924)
NET CHANGE IN CASH AND CASH EQUIVALENTS				31,834	147,981
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD				8,997	23,197
CASH AND CASH EQUIVALENTS, END OF PERIOD		40,831	$ 171,178	40,831	171,178
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest				194	5,596
Cash paid for taxes				2,311	201
Non-cash investing and financing activities:
Capital lease additions				0	$ 148
As Reported
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		(2,502)		(7,449)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for doubtful accounts receivable				(198)
Share-based compensation expense				1,006
Depreciation and amortization				1,038
Amortization of deferred financing costs				262
(Gain) loss on sale or disposal of assets				1,760
(Gain) loss on sale of investments				(437)
Accretion of debt discount				576
Change in fair value of Contingent Value Rights		0		0
Deferred income taxes				1
Unrealized foreign currency transaction (gain) loss on intercompany and foreign debt				(125)
Changes in assets and liabilities, net of acquisitions:
(Increase) decrease in accounts receivable				11,936
(Increase) decrease in costs and recognized earnings in excess of billings on uncompleted contracts				1,389
(Increase) decrease in inventories				(2,503)
(Increase) decrease in prepaid expenses and other current assets				6,241
(Increase) decrease in other assets				929
Increase (decrease) in accounts payable				6,304
Increase (decrease) in accrued interconnection costs				(2,896)
Increase (decrease) in accrued payroll and employee benefits				728
Increase (decrease) in accrued expenses, other current liabilities and other liabilities, net				(1,069)
Increase (decrease) in billings in excess of costs and recognized earnings on uncompleted contracts				(7,766)
Increase (decrease) in accrued income taxes				(1,291)
Increase (decrease) in accrued interest				634
Net cash provided by (used in) operating activities				9,070
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment				(663)
Sale of property and equipment and other assets				80
Sale of investments, net				423
Cash from disposition of business, net of cash disposed				0
Cash paid for business acquisitions, net of cash acquired				(85,627)
Purchase of noncontrolling interest				(5,000)
Decrease in restricted cash				0
Net cash (used in) provided by investing activities				(90,787)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term obligations				123,412
Principal payments on long-term obligations				(57,703)
Payment of fees on restructuring of debt				(812)
Proceeds from sale of common stock, net				6,000
Proceeds from sale of preferred stock, net				29,075
Proceeds from the exercise of warrants and stock options				14,368
Payment of dividend equivalents				(551)
Taxes paid in lieu of shares issued for share-based compensation				(41)
Net cash provided by (used) in financing activities				113,748
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS				(197)
NET CHANGE IN CASH AND CASH EQUIVALENTS				31,834
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD				8,997
CASH AND CASH EQUIVALENTS, END OF PERIOD		40,831		40,831
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest				194
Cash paid for taxes				2,311
Non-cash investing and financing activities:
Capital lease additions				0
Adjustments
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		(348)		(348)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for doubtful accounts receivable				0
Share-based compensation expense				664
Depreciation and amortization				0
Amortization of deferred financing costs				0
(Gain) loss on sale or disposal of assets				(445)
(Gain) loss on sale of investments				0
Accretion of debt discount				0
Change in fair value of Contingent Value Rights		0		0
Deferred income taxes				208
Unrealized foreign currency transaction (gain) loss on intercompany and foreign debt				0
Changes in assets and liabilities, net of acquisitions:
(Increase) decrease in accounts receivable				0
(Increase) decrease in costs and recognized earnings in excess of billings on uncompleted contracts				0
(Increase) decrease in inventories				0
(Increase) decrease in prepaid expenses and other current assets				(2,079)
(Increase) decrease in other assets				0
Increase (decrease) in accounts payable				0
Increase (decrease) in accrued interconnection costs				0
Increase (decrease) in accrued payroll and employee benefits				(1,200)
Increase (decrease) in accrued expenses, other current liabilities and other liabilities, net				0
Increase (decrease) in billings in excess of costs and recognized earnings on uncompleted contracts				0
Increase (decrease) in accrued income taxes				0
Increase (decrease) in accrued interest				0
Net cash provided by (used in) operating activities				(3,200)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment				0
Sale of property and equipment and other assets				0
Sale of investments, net				0
Cash from disposition of business, net of cash disposed				3,200
Cash paid for business acquisitions, net of cash acquired				0
Purchase of noncontrolling interest				0
Decrease in restricted cash				0
Net cash (used in) provided by investing activities				3,200
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term obligations				0
Principal payments on long-term obligations				0
Payment of fees on restructuring of debt				0
Proceeds from sale of common stock, net				0
Proceeds from sale of preferred stock, net				0
Proceeds from the exercise of warrants and stock options				0
Payment of dividend equivalents				0
Taxes paid in lieu of shares issued for share-based compensation				0
Net cash provided by (used) in financing activities				$ 0
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
NET CHANGE IN CASH AND CASH EQUIVALENTS				$ 0
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD				0
CASH AND CASH EQUIVALENTS, END OF PERIOD		$ 0		0
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest				0
Cash paid for taxes				0
Non-cash investing and financing activities:
Capital lease additions				$ 0

Summary of Significant Accoun48

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2014USD ($)
Significant Accounting Policies [Line Items]
Ownership interest rate	70.00%
Ownership interest description	Investments in non-wholly-owned companies are generally consolidated or accounted for under the equity method of accounting when the Company has a 20% to 50% ownership interest or exercises significant influence over the venture. If the Company’s interest exceeds 50% , or if the Company has the power to direct the economic activities of the entity and the obligation to absorb losses, the results of the non-wholly-owned company are consolidated herein. All other investments are generally accounted for under the cost method.
Unapproved change orders on open projects	$ 27.7
Schuff [Member]
Significant Accounting Policies [Line Items]
Minority interest rate	70.00%
Genovel [Member]
Significant Accounting Policies [Line Items]
Minority interest rate	80.00%
Minimum [Member]
Significant Accounting Policies [Line Items]
Ownership interest rate	20.00%
Maximum [Member]
Significant Accounting Policies [Line Items]
Ownership interest rate	50.00%
Buildings and Improvements [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment	5 years
Buildings and Improvements [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment	40 years
Machinery and Equipment [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment	3 years
Machinery and Equipment [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment	15 years

Accounts Receivable and Contr49

Accounts Receivable and Contracts in Progress - Schedule of Accounts Receivable (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Contract receivables:
Contracts in progress	$ 87,859
Unbilled retentions	33,099
Trade receivables	18,846	$ 21,456
Other receivables	328
Allowance for doubtful accounts	(2,089)	(2,476)
Total accounts receivable	$ 138,043	$ 18,980

Accounts Receivable and Contr50

Accounts Receivable and Contracts in Progress - Costs and Recognized Earnings in Excess of Billings and Billings in Excess of Costs and Recognized Earnings on Uncompleted Contracts (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Receivables [Abstract]
Costs incurred on contracts in progress	$ 561,453	$ 0
Estimated earnings	73,346	0
Costs incurred on contracts in progress and estimated earnings, gross	634,799	0
Less progress billings	667,280	0
Costs incurred on contracts in progress and estimated earnings, net	(32,481)	0
The above is included in the accompanying condensed consolidated balance sheet under the following captions
Costs and recognized earnings in excess of billings on uncompleted contracts	25,737	0
Billings in excess of costs and recognized earnings on uncompleted contracts	(58,218)	0
Costs incurred on contracts in progress and estimated earnings, net	$ (32,481)	$ 0

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Raw materials	$ 16,502	$ 0
Work in process	298	0
Finished goods	190	0
Inventories, net	$ 16,990	$ 0

Business Combinations - Additio

Business Combinations - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	May. 29, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Business Acquisition [Line Items]
Number of shares of common stock acquired	2,500,000
Additional number of shares acquired	198,411
Percentage of ownership interest acquired	65.00%
GOODWILL		$ 27,990	$ 27,990		$ 27,990		$ 3,378
Revenue			96,586	$ 58,621	139,940	$ 117,410
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC.			$ (3,909)	$ 137,358	$ (8,856)	$ 134,146
Schuff [Member]
Business Acquisition [Line Items]
Acquisition date					May 29, 2014
Number of shares of common stock acquired	2,500,000
Additional number of shares acquired	198,411
Percentage of ownership interest acquired	65.00%	70.00%	70.00%		70.00%
Business acquisition purchase price valued per share	$ 31.50
Non-controlling interest ownership percentage	35.00%
GOODWILL		$ 24,612	$ 24,612		$ 24,612
Transaction cost incurred in acquisition		300	$ 300		$ 300
Revenue		54,500
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC.		$ 2,800

Business Combinations - Schedul

Business Combinations - Schedule of Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
GOODWILL	$ 27,990	$ 3,378
Schuff [Member]
Business Acquisition [Line Items]
Cash and cash equivalents	(627)
Investments	1,714
Accounts receivable	130,622
Costs and recognized earnings in excess of billings on uncompleted contracts	27,126
Prepaid expenses and other current assets	3,079
Inventories	14,487
Property and equipment, net	85,662
GOODWILL	24,612
Trade names	4,478
Other assets	2,947
Total assets acquired	294,100
Accounts payable	37,621
Accrued payroll and employee benefits	11,668
Accrued expenses and other current liabilities	12,532
Billings in excess of costs and recognized earnings on uncompleted contracts	65,985
Accrued income taxes	1,202
Accrued interest	76
Current portion of long-term debt	15,460
Long-term debt	4,375
Deferred tax liability	7,815
Other liabilities	604
Noncontrolling interest	4,365
Total liabilities assumed	161,703
Enterprise value	132,397
Less fair value of noncontrolling interest	53,647
Purchase price attributable to controlling interest	$ 78,750

Business Combinations - Sched54

Business Combinations - Schedule of Acquired Amortizable Intangible Assets and Related Estimated Useful Lives (Detail) - USD ($) $ in Thousands	May. 29, 2014	Jun. 30, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
Preliminary Estimated Value	$ 4,478
Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Preliminary Estimated Useful Lives		15 years
Preliminary Estimated Value	$ 4,478

Business Combinations - Sched55

Business Combinations - Schedule of Unaudited Consolidated Pro Forma Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Business Acquisition [Line Items]
GAIN (LOSS) FROM SALE OF DISCONTINUED OPERATIONS, net of tax	$ 0	$ 135,045	$ (784)	$ 135,045
Basic income (loss) per common share:
Gain (loss) from sale of discontinued operations (in USD per share)	$ 0	$ 9.66	$ (0.05)	$ 9.69
Diluted income (loss) per common share:
Gain (loss) from sale of discontinued operations (in USD per share)	$ 0	$ 9.35	$ (0.05)	$ 9.69
Schuff [Member]
Business Acquisition [Line Items]
Net revenue	$ 169,184	$ 158,080	$ 317,681	$ 305,000
Net income (loss) from continuing operations	(1,668)	4,317	(3,764)	(516)
Net income (loss) from discontinued operations	4	(567)	12	1,819
GAIN (LOSS) FROM SALE OF DISCONTINUED OPERATIONS, net of tax	0	135,045	(784)	135,045
Net income (loss) attributable to HC2 Holdings, Inc.	$ (1,664)	$ 138,795	$ (4,536)	$ 136,348
Basic income (loss) per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.	$ (0.10)	$ 0.31	$ (0.24)	$ (0.04)
Income (loss) from discontinued operations	0	(0.04)	0	0.13
Gain (loss) from sale of discontinued operations (in USD per share)	0	9.67	(0.05)	9.69
Net income (loss) attributable to HC2 Holdings, Inc.	(0.10)	9.94	(0.29)	9.78
Diluted income (loss) per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.	(0.10)	0.30	(0.24)	(0.04)
Income (loss) from discontinued operations	0	(0.04)	0	0.13
Gain (loss) from sale of discontinued operations (in USD per share)	0	9.35	(0.05)	9.69
Net income (loss) attributable to HC2 Holdings, Inc.	$ (0.10)	$ 9.61	$ (0.29)	$ 9.78

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 86,988	$ 6,069
Less accumulated depreciation and amortization	3,317	3,107
Property, plant and equipment, net	83,671	2,962
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	18,872
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	24,142
Building and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	3,375	386
Network Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	5,348	5,303
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	27,514
Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	1,165
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	2,049	$ 380
EDP Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	1,967
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 2,556

Property, Plant and Equipment57

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014
Property Plant and Equipment Useful Life and Values [Abstract]
Depreciation expense	$ 0.8	$ 1

Accounts Payable - Summary of A

Accounts Payable - Summary of Accounts Payable (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Payables and Accruals [Abstract]
Accounts payable	$ 47,557	$ 6,964
Retentions payable	3,690
Accounts payable	$ 51,247	$ 6,964

Long-Term Obligations - Schedul

Long-Term Obligations - Schedule of Long-term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Long-term debt	$ 85,951	$ 0
Less current portion	36,781	0
Long-term debt non current	49,170	0
Note Payable Collaterized by Asset [Member]
Debt Instrument [Line Items]
Long-term debt	70,314	0
Note Payable Collaterized by Schuff's Real Estate [Member]
Debt Instrument [Line Items]
Long-term debt	4,948	0
Note Payable Collaterized by Schuff's Asset under Revolving Line of Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt	$ 10,689	$ 0

Long-Term Obligations - Sched60

Long-Term Obligations - Schedule of Long-term Debt Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014
Note Payable Collaterized by Asset [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate terms	Interest payable quarterly based on alternate base rate or LIBOR plus applicable margin (starting at 7.5% for alternate base rate and 8.5% for LIBOR) and increases by 25 basis points every quarter
Debt instrument, alternative base rate	7.50%
Debt instrument, LIBOR rate	8.50%
Debt instrument, variable rate	0.25%
Debt instrument, maturity year	2,015
Note Payable Collaterized by Schuff's Real Estate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate terms	Interest payable monthly at LIBOR plus 4% and principal payable monthly
Debt instrument, variable rate	4.00%
Debt instrument, maturity year	2,019
Note Payable Collaterized by Schuff's Asset under Revolving Line of Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate terms	Interest payable monthly at the LIBOR plus 3%
Debt instrument, variable rate	3.00%
Debt instrument, maturity year	2,019

Long-Term Obligations - Sched61

Long-Term Obligations - Schedule of Aggregate Debt Maturities (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Equity Method Investments And Cost Method Investments [Abstract]
2,014	$ 36,469
2,015	45,472
2,016	625
2,017	625
2,018	625
2,019	2,135
Long-term debt	$ 85,951	$ 0

Long-Term Obligations - Additio

Long-Term Obligations - Additional Information (Detail) - USD ($)	Jun. 29, 2014	May. 29, 2014	Aug. 30, 2013	Sep. 30, 2013	Jun. 30, 2014
Debt Instrument [Line Items]
Aggregate principal amount			$ 125,300,000
Aggregate principle amount		$ 80,000,000
Debt instrument term		18 months
Debt instrument rate description					Borrowings under the Credit Agreement will bear interest at a floating rate which can be, at HC2’s option, either (i) an alternate base rate (of not less than 2%) plus an applicable margin or (ii) a LIBOR borrowing rate for a specified interest period (of not less than 1%) plus an applicable margin.
Credit agreement interest rate					4.00%
Extended maturity date					Apr. 30, 2019
Line of credit borrowings					$ 86,000,000
Line of credit outstanding amount					3,900,000
Credit facility available					35,400,000
International LOC [Member]
Debt Instrument [Line Items]
Credit facility available					$ 3,500,000
Note Payable Collaterized by Asset [Member]
Debt Instrument [Line Items]
Debt instrument rate description					The applicable margin for borrowings under the Credit Agreement starts at 7.50% per annum for alternate base rate loans and 8.50% per annum for LIBOR loans and increases by 25 basis points every three months.
Increase in debt instrument rate					0.25%
Note Payable Collaterized by Schuff's Property and Plant under Revolving Line of Credit Agreement [Member]
Debt Instrument [Line Items]
Credit agreement interest rate					5.25%
Line of credit, maximum amount					$ 3,500,000
Debt instrument, special interest on compensation fund					1.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument term					5 years
Debt instrument rate description					The Real Estate Term Advance has a floating interest rate of LIBOR plus 4.0% and requires monthly interest payments.
Credit agreement interest rate	3.23%
Issuance of note payable collaterized					$ 5,000,000
Line of credit amended date					May 5, 2014
Revolving Credit Facility [Member] | International LOC [Member]
Debt Instrument [Line Items]
Credit agreement interest rate					3.00%
Alternate Base Rate [Member]
Debt Instrument [Line Items]
Credit agreement interest rate					2.00%
Alternate Base Rate [Member] | Note Payable Collaterized by Asset [Member]
Debt Instrument [Line Items]
Credit agreement interest rate					7.50%
Increase in debt instrument rate					0.25%
LIBOR Loans Borrowing Rate [Member]
Debt Instrument [Line Items]
Credit agreement interest rate					1.00%
LIBOR Loans Borrowing Rate [Member] | Note Payable Collaterized by Asset [Member]
Debt Instrument [Line Items]
Credit agreement interest rate					8.50%
10% Senior Secured Notes Due 2017 [Member]
Debt Instrument [Line Items]
Senior Secured Notes					10.00%
Aggregate principal amount			$ 12,700,000
Percentage of redemption from aggregate principal amount			106.50%
Premiums and other costs				$ 800,000
Deferred financing costs				800,000
Original issue discount included in gain (loss) on early extinguishment or restructuring of debt				100,000
10% Senior Secured Exchange Notes Due 2017 [Member]
Debt Instrument [Line Items]
Senior Secured Notes					10.00%
Aggregate principal amount			$ 112,600,000
Percentage of redemption from aggregate principal amount			100.00%
Deferred financing costs				14,800,000
Original issue discount included in gain (loss) on early extinguishment or restructuring of debt				500,000
13% Senior Secured Notes Due 2016 [Member]
Debt Instrument [Line Items]
Senior Secured Notes					13.00%
Percentage of redemption from aggregate principal amount			106.50%
Premiums and other costs				200,000
Deferred financing costs				3,700,000
Original issue discount included in gain (loss) on early extinguishment or restructuring of debt				$ 20,000
Principal amount outstanding			$ 2,400,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	May. 29, 2014	Mar. 31, 2014	Dec. 31, 2013
Operating Loss Carryforwards [Line Items]
Income tax expense	$ 2,154	$ 107	$ 2,163	$ 218
Substantial acquisitions percentage						5.00%
Common stock, shares issued	20,543,595		20,543,595				14,257,545
Net operating loss carryforward annual limitation following ownership change			$ 2,160
Net operating loss carryforward incremental limitation			7,100
Net operating loss carryforward annual limitation for first five years of ownership change			3,580
Net operating loss carryforward annual limitation for next fifteen years of ownership change			$ 2,160
Schuff [Member]
Operating Loss Carryforwards [Line Items]
Preferred stock, shares issued					30,000
Common stock, shares issued					1,500,000
United States [Member]
Operating Loss Carryforwards [Line Items]
United States operating loss carryforwards							$ 241,000
United States [Member] | Subject to Limitation [Member]
Operating Loss Carryforwards [Line Items]
United States operating loss carryforwards							$ 125,000

Income Taxes - Open Tax Years f

Income Taxes - Open Tax Years for Each Major Jurisdiction (Detail)	6 Months Ended
	Jun. 30, 2014
United States [Member]
Income Tax Contingency [Line Items]
Open tax years beginning	2,002
Open tax years ending	2,013
United Kingdom [Member]
Income Tax Contingency [Line Items]
Open tax years beginning	2,005
Open tax years ending	2,013
Netherlands [Member]
Income Tax Contingency [Line Items]
Open tax years beginning	2,008
Open tax years ending	2,013

Commitments and Contingencies -

Commitments and Contingencies - Purchase Obligations and Non-Cancellable Operating Leases, Including Continuing Obligations of Discontinued Operations (Detail) $ in Thousands	Jun. 30, 2014USD ($)
Operating Leases
2014 (as of June 30, 2014)	$ 1,470
2,015	2,456
2,016	1,912
2,017	1,217
2,018	616
Thereafter	1,054
Total long-term obligations	$ 8,725

Commitments and Contingencies66

Commitments and Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014USD ($)	Jun. 30, 2013USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2013USD ($)	Dec. 31, 2012Lawsuits
Commitments and Contingencies Disclosure [Abstract]
Rent expense | $	$ 1	$ 0.7	$ 3.3	$ 1.4
Number of lawsuits | Lawsuits					2

Employee Retirement Plans - Add

Employee Retirement Plans - Additional Information (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2014USD ($)$ / h	Mar. 31, 2014$ / h	Dec. 30, 2012USD ($)	Dec. 31, 2013USD ($)	Mar. 31, 2012USD ($)
Union Steelworkers [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plan contribution made by employer	$ 11,000
Discretionary matching contributions vested percentage	100.00%
Profit share contributions, probationary period	640 hours
Discretionary matching contributions vested period	3 years
Profit share contributions rate for each hour | $ / h		0.50
Union Steelworkers [Member] | April 1, 2014 and beyond [Member]
Defined Benefit Plan Disclosure [Line Items]
Profit share contributions rate for each hour | $ / h	0.55
Schuff [Member] | California Ironworkers Field Pension Trust [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plan contribution made by employer	$ 900,000
Schuff [Member] | California Ironworkers Field Pension Trust [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of employees covered under plan	5.00%
Schuff [Member] | Steelworkers Pension Trust [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension withdrawal liability	$ 1,000,000			$ 2,400,000	$ 2,600,000
Defined benefit pension plan contribution made by employer	$ 200,000		$ 200,000
Schuff [Member] | Union Steelworkers [Member]
Defined Benefit Plan Disclosure [Line Items]
Discretionary matching contributions vested percentage	100.00%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted			2,812,385	40,000
Weighted average fair value at date of grant for options granted			$ 1.44
Share-based compensation expense recognized	$ 1,500,000	$ 1,000,000	$ 1,670,000	$ 1,479,000
Intrinsic value of exercised options			$ 300,000
Philip Falcone [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted			2,803,864
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding awards	2,942,043		2,942,043		589,859
Options granted			2,812,385
Weighted average remaining period			1 year 10 months 24 days
Unvested stock options outstanding	1,885,577		1,885,577
Compensation expense	$ 2,700,000		$ 2,700,000
Unvested shares expected to vest	1,885,577		1,885,577
Weighted average remaining life			10 years
Weighted average exercise price	$ 4.28		$ 4.28
RSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 40,000		$ 40,000
Weighted average remaining period			1 year 1 month 6 days
Unvested shares expected to vest	6,761		6,761
Omnibus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding awards	472,002		472,002
Common stock shares authorized to issue	5,000,000		5,000,000

Share-Based Compensation - Fair

Share-Based Compensation - Fair Value of Each Option Grant Estimated (Detail)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life	5 years 10 months 13 days	5 years 9 months
Risk-free interest rate		1.32%
Expected volatility		35.55%
Dividend yield	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.65%
Expected volatility	36.74%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.73%
Expected volatility	37.20%

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Company's Restricted Stock Units (Detail)	6 Months Ended
	Jun. 30, 2014$ / sharesshares
Summary of Company's restricted stock units, Shares
Shares, Forfeitures | shares	0
Summary of Company's restricted stock units, Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Forfeitures | $ / shares	$ 0
RSU [Member]
Summary of Company's restricted stock units, Shares
Shares, Beginning Balance, Unvested | shares	22,500
Shares, Granted | shares	4,261
Shares, Vested | shares	(20,000)
Shares, Ending Balance, Unvested | shares	6,761
Summary of Company's restricted stock units, Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Unvested, Beginning balance | $ / shares	$ 13.59
Weighted Average Grant Date Fair Value, Granted | $ / shares	3.60
Weighted Average Grant Date Fair Value, Vested | $ / shares	13.82
Weighted Average Grant Date Fair Value, Unvested, Ending balance | $ / shares	$ 6.67

Share-Based Compensation - Su71

Share-Based Compensation - Summary of Company's Stock Option Activity (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Granted	2,812,385	40,000
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Outstanding, Beginning Balance	589,859
Shares, Granted	2,812,385
Shares, Exercised	(230,300)
Shares, Forfeitures	(229,901)
Shares Outstanding, Ending Balance	2,942,043
Shares, Eligible for exercise	1,056,467
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 3.17
Weighted Average Exercise Price, Granted	4.32
Weighted Average Exercise Price, Exercised	2.43
Weighted Average Exercise Price, Forfeitures	4.47
Weighted Average Exercise Price, Outstanding, Ending Balance	4.28
Weighted Average Exercise Price, Eligible for exercise	$ 4.22

Share-Based Compensation - Intr

Share-Based Compensation - Intrinsic Values and Remaining Contractual Terms of Company's Stock Options (Detail)	6 Months Ended
	Jun. 30, 2014USD ($)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Intrinsic Value, Options outstanding	$ 96,292
Intrinsic Value, Options exercisable	$ 79,295
Weighted Average Remaining Life in Years, Options outstanding	10 years
Weighted Average Remaining Life in Years, Options exercisable	9 years 9 months 18 days

Equity - Additional Information

Equity - Additional Information (Detail) - $ / shares	May. 29, 2014	Jul. 31, 2009	Jun. 30, 2014	Dec. 31, 2013
Common stock, shares outstanding			20,511,969	14,225,919
Preferred stock, shares outstanding			30,000	0
Expiry date of warrants			Jul. 1, 2014
Term of warrants		5 years
Warrants expiration date			Jul. 1, 2014
Common stock, shares issued			20,543,595	14,257,545
Schuff [Member]
Preferred stock, shares issued	30,000
Common stock, shares issued	1,500,000
Preferred stock conversion price	$ 4.25
Preferred stock cumulative cash dividend rate	7.50%
Preferred stock dividend payment description			The accrued value of the Preferred Stock will accrete quarterly at an annualized rate of 4% that will be reduced to 2% or 0% if the Company achieves specified rates of growth measured by increases in its net asset value.
Preferred stock dividend rate			4.00%
Preferred stock redemption description			Upon a change of control, holders of the Preferred Stock shall be entitled to cause HC2 to redeem their Preferred Stock at a price per share equal to the greater of (i) the accrued value of the Preferred Stock, which amount would be multiplied by 150% in the event of a change in control occurring on or prior to the third anniversary of the issue date plus and accrued but unpaid dividends and (ii) the value that would be received if the share of Preferred Stock were converted into common stock immediately prior to the change of control. At any time after the third anniversary of the issue date, HC2 may redeem the Preferred Stock, in whole but not in part, at a price per share generally equal to 150% of the accrued value per share plus accrued but unpaid dividends. After the third anniversary of the issue date, HC2 may force conversion of the Preferred Stock into common stock if the common stock’s thirty-day volume-weighted average price (“VWAP”) exceeds 150% of the then-applicable conversion price and the common stock’s daily VWAP exceeds 150% of the then-applicable conversion price for at least twenty trading days out of the thirty trading day period used to calculate the thirty-day VWAP.
Preferred stock redemption price per share on accrued and unpaid dividends, percentage			150.00%
Convertible preferred stock volume weighted average price percentage			150.00%
Volume weighted average price threshold percentage			150.00%
Preferred stock force conversion, trading days to calculate volume weighted average price			30 days
Preferred stock trading days to calculate volume weighted average price			20 days
Schuff [Member] | Maximum [Member]
Preferred stock dividend rate			2.00%
Schuff [Member] | Minimum [Member]
Preferred stock dividend rate			0.00%
Class A-1 [Member]
Number of warrants entitled for purchase		1,000,000
Aggregate amount of common stock			903,779
Decrease in exercise price per share			$ 2.79
Warrants exercised			734,748
Warrants converted to common shares			3,222,816
Class A-1 [Member] | Additional Warrant [Member]
Warrants exercised			144,192
Warrants converted to common shares			632,473
Class A-2 [Member]
Number of warrants entitled for purchase		1,000,000
Aggregate amount of common stock			3,109,302
Decrease in exercise price per share			$ 3.77
Warrants exercised			291,109
Warrants converted to common shares			1,276,912
Class A-2 [Member] | Additional Warrant [Member]
Warrants exercised			489,644
Warrants converted to common shares			2,147,729
Class A-3 [Member]
Number of warrants entitled for purchase		1,000,000
Aggregate amount of common stock			4,385,696
Decrease in exercise price per share			$ 4.67
Warrants exercised			119
Warrants converted to common shares			522
Class A-3 [Member] | Additional Warrant [Member]
Warrants exercised			5,590
Warrants converted to common shares			24,519
Class A Warrants [Member]
Number of warrants entitled for purchase		1,000,000
Class B Warrants [Member]
Aggregate amount of common stock		1,500,000	6,579,322
Decrease in exercise price per share			$ 5.93

Fair Value of Financial Instr74

Fair Value of Financial Instruments and Derivatives - Additional Information (Detail) $ in Millions	Jun. 30, 2014USD ($)
Fair Value Disclosures [Abstract]
Estimated aggregate fair value of the Company's debt, based on quoted market prices	$ 0.8
Aggregate carrying value of the Company's debt	$ 86

Operating Segment and Related75

Operating Segment and Related Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014Segment
Segment Reporting [Abstract]
Number of reportable geographic segments	2
Number of reportable operating segments	3
Number of single customer representing greater than 10% of revenues	The Company has no single customer representing greater than 10% of its revenues.

Operating Segment and Related76

Operating Segment and Related Information - Summary of Company's Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
NET REVENUE	$ 96,586	$ 58,621	$ 139,940	$ 117,410
LOSS FROM OPERATIONS	(116)	(11,491)	(4,203)	(16,993)
CAPITAL EXPENDITURES	574	3,438	663	9,955
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
NET REVENUE	80,978	23,635	106,258	47,263
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
NET REVENUE	15,608	34,986	33,682	70,147
Telecommunications [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
NET REVENUE	42,111	58,621	85,465	117,410
LOSS FROM OPERATIONS	(228)	(4,646)	(106)	(9,023)
CAPITAL EXPENDITURES	188	3,438	256	9,955
Life Sciences [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
LOSS FROM OPERATIONS	(935)	0	(935)	0
Manufacturing [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
NET REVENUE	54,475	0	54,475	0
LOSS FROM OPERATIONS	5,771	0	5,771	0
CAPITAL EXPENDITURES	386	0	386	0
Corporate [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
LOSS FROM OPERATIONS	(4,724)	(6,845)	(8,933)	(7,970)
CAPITAL EXPENDITURES	$ 0	$ 0	$ 21	$ 0

Operating Segment and Related77

Operating Segment and Related Information - Segment Reporting for Property and Equipment - Net and Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
PROPERTY, PLANT AND EQUIPMENT – Net	$ 83,671	$ 2,962
TOTAL ASSETS	392,071	87,680
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
PROPERTY, PLANT AND EQUIPMENT – Net	83,171	2,303
TOTAL ASSETS	379,497	71,481
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
PROPERTY, PLANT AND EQUIPMENT – Net	500	659
TOTAL ASSETS	$ 12,574	$ 16,199

Backlog - Additional Informatio

Backlog - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2014USD ($)Contracts
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Backlog amount	$ 386.9
Number of contracts attributable to backlog | Contracts	5
Contracts or Purchase Orders [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Backlog amount	$ 366.9
Letters of Intent [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Backlog amount	20
Five Contracts, Letters of Intent, Notices to Proceed or Purchase Orders [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Backlog amount	$ 208.2
Backlog percentage	53.80%

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Detail) $ in Thousands, CAD in Millions	Jul. 31, 2014USD ($)	Jul. 31, 2013USD ($)	Sep. 30, 2013USD ($)	Jun. 30, 2013USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2013USD ($)	Jun. 30, 2014CAD	Apr. 17, 2013USD ($)	Apr. 17, 2013CAD
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from sale of discontinued operations, net of tax					$ 13,000
Amount released from escrow					3,200
Adjustment to remaining carrying value of discontinued operation			$ 300
Aircraft [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale					3,600
York [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amount released from escrow					800
Prepaid Expenses and Other Current Assets [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Escrow deposit recorded					6,450
Other Assets [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Escrow deposit recorded					4,800
BLACKIRON Data [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Outstanding equity value								$ 195,600	CAD 200
Gain from sale of discontinued operations, net of tax				$ 135,000
Proceeds from sale placed in escrow					19,500		CAD 20
BLACKIRON Data [Member] | Subsequent Event [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Escrow proceeds received	$ 19,500
North America Telecom [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from sale of discontinued operations, net of tax						$ 13,800
Proceeds from sale placed in escrow					15,250
Sale price of outstanding placed in escrow		$ 129,000
Indemnification obligation					12,900
Escrow received					126,000
Additional amount held in escrow					$ 3,000
Period of escrow to be released after closing date					14 months
Purchase consideration placed in escrow					$ 6,450
North America Telecom [Member] | Subsequent Event [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Escrow proceeds received	$ 3,000
North America Telecom [Member] | Working Capital Adjustment [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase consideration placed in escrow					$ 4,000
North America Telecom [Member] | Income Tax Related Liabilities [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Period of escrow to be released after closing date					30 days
Purchase consideration placed in escrow					$ 4,800

Discontinued Operations - Summa

Discontinued Operations - Summarized Operating Results of Discontinued Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue	$ 3,190	$ 50,316	$ 6,468	$ 111,199
Operating expenses	3,113	46,070	6,342	100,327
Income from operations	77	4,246	126	10,872
Interest expense	(3)	(4,260)	(3)	(8,509)
Interest income and other income (expense)	(25)	28	(51)	46
Foreign currency transaction loss		(262)		(339)
Income (loss) before income tax	49	(248)	72	2,070
Income tax (expense)	(22)	(359)	(28)	(298)
Income from discontinued operations	27	$ (607)	44	$ 1,772
Assets held for sale	9,251		9,251		$ 6,329
Liabilities held for sale	4,259		4,259		4,823
North America Telecom [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable	311		311		670
Prepaid expenses and other current assets	550		550		839
Long-lived assets and other non-current assets	4,795		4,795		4,820
Assets held for sale	5,656		5,656		6,329
Accounts payable	618		618		869
Accrued interconnection costs	305		305		420
Accrued expenses and other liabilities	3,336		3,336		3,534
Liabilities held for sale	$ 4,259		$ 4,259		$ 4,823

Discontinued Operations - Sum81

Discontinued Operations - Summarized Operating Results of Discontinued Operations Additional Information (Detail) $ in Millions	Jun. 30, 2014USD ($)
Discontinued Operations and Disposal Groups [Abstract]
Remaining amount of goodwill of US reporting unit	$ 3.7
Remaining amount of customer relationships of US reporting unit	$ 0.4

Basic and Diluted Income (Los82

Basic and Diluted Income (Loss) Per Common Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive securities included in computation of earnings per share, Stock Options and RSUs		200,000
Dilutive securities included in computation of earnings per share, Waarants		300,000
Dilutive common share equivalents	0		0
Stock Options and RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,700,000		1,700,000
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	13,500,000		13,500,000

Basic and Diluted Income (Los83

Basic and Diluted Income (Loss) Per Common Share - Basic Income (Loss) Per Common Share to Diluted Income (Loss) Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.	$ (4,136)	$ 2,920	$ (8,316)	$ (2,671)
Income (loss) from discontinued operations	27	(607)	44	1,772
Gain (loss) from sale of discontinued operations	0	135,045	(784)	135,045
Net income (loss) – basic	(4,109)	137,358	(9,056)	134,146
Net income (loss) – diluted	$ (4,109)	$ 137,358	$ (9,056)	$ 134,146
Weighted average common shares outstanding - basic (in USD per share)	16,905	13,972	15,780	13,941
Weighted average common shares outstanding - diluted (in USD per share)	16,905	14,436	15,780	13,941
Basic income (loss) per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	$ (0.24)	$ 0.21	$ (0.52)	$ (0.19)
Income (loss) from discontinued operations (in USD per share)	0	(0.04)	0	0.12
Gain (loss) from sale of discontinued operations (in USD per share)	0	9.66	(0.05)	9.69
Net Income (Loss) attributable to HC2 Holdings, Inc. (in USD per share)	(0.24)	9.83	(0.57)	9.62
Diluted income (loss) per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	(0.24)	0.20	(0.52)	(0.19)
Income (loss) from discontinued operations (in USD per share)	0	(0.04)	0	0.12
Gain (loss) from sale of discontinued operations (in USD per share)	0	9.35	(0.05)	9.69
Net income (loss) attributable to HC2 Holdings, Inc. (in USD per share)	$ (0.24)	$ 9.51	$ (0.57)	$ 9.62

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] $ in Millions	Jul. 31, 2014USD ($)
BLACKIRON Data [Member]
Subsequent Event [Line Items]
Escrow proceeds received	$ 19.5
North America Telecom [Member]
Subsequent Event [Line Items]
Escrow proceeds received	$ 3