INNOVATE (VATE) 10-Q/A 15 Mar 16 2014 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2014	Oct. 31, 2014
Document And Entity Information [Abstract]
Document Type	10-Q/A
Amendment Flag	true
Amendment Description	Amendment No. 1
Document Period End Date	Sep. 30, 2014
Document Fiscal Year Focus	2,014
Document Fiscal Period Focus	Q3
Trading Symbol	HCHC
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		23,814,601

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]
NET REVENUE	$ 183,289	$ 61,077	$ 323,229	$ 178,487
OPERATING EXPENSES
Cost of revenue	161,495	58,752	285,462	169,704
Selling, general and administrative	23,456	6,293	43,156	29,749
Depreciation and amortization	921	1	1,475	2
(Gain) loss on sale or disposal of assets	(3)	(2)	(81)	(8)
Asset impairment expense	0	146	0	146
Total operating expenses	185,869	65,190	330,012	199,593
INCOME (LOSS) FROM OPERATIONS	(2,580)	(4,113)	(6,783)	(21,106)
INTEREST EXPENSE	(2,103)	(3)	(3,116)	(8)
AMORTIZATION OF DEBT DISCOUNT	(805)	0	(1,381)	0
LOSS ON EARLY EXTINGUISHMENT OR RESTRUCTURING OF DEBT	(6,947)	0	(6,947)	0
GAIN FROM CONTINGENT VALUE RIGHTS VALUATION	0	0	0	14,904
INTEREST INCOME AND OTHER EXPENSE, net	29	(76)	524	(184)
FOREIGN CURRENCY TRANSACTION GAIN (LOSS)	170	19	573	(232)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME (LOSS) FROM EQUITY INVESTEES	(12,236)	(4,173)	(17,130)	(6,626)
INCOME (LOSS) FROM EQUITY INVESTEES	(479)	0	(479)	0
INCOME TAX (EXPENSE) BENEFIT	(4,307)	3,308	(6,470)	3,090
INCOME (LOSS) FROM CONTINUING OPERATIONS	(17,022)	(865)	(24,079)	(3,536)
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax	(106)	(21,490)	(62)	(19,718)
GAIN (LOSS) FROM SALE OF DISCONTINUED OPERATIONS, net of tax	663	15,650	(121)	150,695
NET INCOME (LOSS)	(16,465)	(6,705)	(24,262)	127,441
Less: Net (income) loss attributable to noncontrolling interest	(931)	0	(1,990)	0
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC.	(17,396)	(6,705)	(26,252)	127,441
Less: Preferred stock dividends and accretion	1,004	0	1,204	0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	$ (18,400)	$ (6,705)	$ (27,456)	$ 127,441
BASIC INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	$ (0.82)	$ (0.06)	$ (1.49)	$ (0.25)
Income (loss) from discontinued operations (in USD per share)	0	(1.53)	0	(1.41)
Gain (loss) from sale of discontinued operations (in USD per share)	0.03	1.11	(0.01)	10.77
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	(0.79)	(0.48)	(1.50)	9.11
DILUTED INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	(0.82)	(0.06)	(1.49)	(0.25)
Income (loss) from discontinued operations (in USD per share)	0	(1.53)	0	(1.41)
Gain (loss) from sale of discontinued operations (in USD per share)	0.03	1.11	(0.01)	10.77
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	$ (0.79)	$ (0.48)	$ (1.50)	$ 9.11
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	23,372	14,077	18,348	13,987
Diluted (in shares)	23,372	14,077	18,348	13,987
AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF HC2 HOLDINGS, INC.
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.	$ (18,957)	$ (865)	$ (27,273)	$ (3,536)
Income (loss) from discontinued operations	(106)	(21,490)	(62)	(19,718)
Gain (loss) from sale of discontinued operations	663	15,650	(121)	150,695
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	$ (18,400)	$ (6,705)	$ (27,456)	$ 127,441

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ (16,465)	$ (6,705)	$ (24,262)	$ 127,441
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	867	(1,819)	733	(7,379)
Unrealized gain (loss) on available-for-sale securities	(1,655)	0	(1,655)	0
Less: Other comprehensive (income) attributable to the noncontrolling interest	(931)	0	(1,990)	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO HC2 HOLDINGS, INC.	$ (18,184)	$ (8,524)	$ (27,174)	$ 120,062

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
CURRENT ASSETS:
Cash and cash equivalents	$ 111,739	$ 8,997	$ 15,538	$ 23,197
Short-term investments	3,253	0
Accounts receivable (net of allowance for doubtful accounts receivable of $4,639 and $2,476 at September 30, 2014 and December 31, 2013, respectively)	170,570	18,980
Costs and recognized earnings in excess of billings on uncompleted contracts	26,604	0
Inventories	23,894	0
Prepaid expenses and other current assets	36,915	40,594
Assets held for sale	3,865	6,329
Total current assets	376,840	74,900
LONG-TERM INVESTMENTS	41,900	0
PROPERTY, PLANT AND EQUIPMENT—Net	234,608	2,962
GOODWILL	31,877	3,378
OTHER INTANGIBLE ASSETS—Net	23,922	0
OTHER ASSETS	22,721	6,440
TOTAL ASSETS	731,868	87,680
CURRENT LIABILITIES:
Accounts payable	55,811	6,964
Accrued interconnection costs	9,969	12,456
Accrued payroll and employee benefits	15,385	1,854
Accrued expenses and other current liabilities	57,900	5,550
Billings in excess of costs and recognized earnings on uncompleted contracts	63,103	0
Accrued income taxes	302	53
Accrued interest	578	0
Current portion of long-term debt	22,408	0
Liabilities held for sale	0	4,823
Total current liabilities	225,456	31,700
LONG-TERM DEBT	290,394	0
PENSION LIABILITY	46,359	0
DEFERRED TAX LIABILITY	12,059	0
OTHER LIABILITIES	1,032	1,571
Total liabilities	$ 575,300	$ 33,271
COMMITMENTS AND CONTINGENCIES
TEMPORARY EQUITY
Preferred stock, $0.001 par value—20,000,000 shares authorized; Series A—30,000 and 0 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively; Series A-1—11,000 and 0 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively	$ 39,524	$ 0
Redeemable non-controlling interest	4,062	0
Total temporary equity	43,586	0
STOCKHOLDERS’ EQUITY:
Common stock, $0.001 par value—80,000,000 shares authorized; 23,689,816 and 14,257,545 shares issued and 23,658,190 and 14,225,919 shares outstanding at September 30, 2014 and December 31, 2013, respectively	24	14
Additional paid-in capital	131,472	98,598
Retained earnings (accumulated deficit)	(56,025)	(29,773)
Treasury stock, at cost—31,626 shares at September 30, 2014 and December 31, 2013, respectively	(378)	(378)
Accumulated other comprehensive loss	(14,974)	(14,052)
Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest	60,119	54,409
Non-controlling interest	52,863	0
Total permanent equity	112,982	54,409
TOTAL LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY	$ 731,868	$ 87,680

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Accounts receivable, allowance for doubtful accounts receivable	$ 4,639	$ 2,476
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	23,689,816	14,257,545
Common stock, shares outstanding	23,658,190	14,225,919
Treasury stock, shares	31,626	31,626
Series A Convertible Preferred Stock [Member]
Preferred stock, shares issued	30,000	30,000
Preferred stock, shares outstanding	0	0
Series A-1 Convertible Preferred Stock [Member]
Preferred stock, shares issued	11,000	11,000
Preferred stock, shares outstanding	0	0

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Permanent Equity (Unaudited) - 9 months ended Sep. 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]	Noncontrolling Interest [Member]
Beginning Balance at Dec. 31, 2013	$ 54,409	$ 14	$ 98,598	$ (378)	$ (29,773)	$ (14,052)	$ 0
Beginning Balance, shares at Dec. 31, 2013		14,226
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense	2,866		2,866
Proceeds from the exercise of warrants and stock options	24,348	$ 8	24,340
Proceeds from the exercise of warrants and stock options, Shares		7,590
Taxes paid in lieu of shares issued for share-based compensation	(41)		(41)
Preferred stock dividend and accretion	(1,204)		(1,204)
Preferred stock beneficial conversion feature	659		659
Issuance of common stock	6,000	$ 2	5,998
Issuance of common stock, Shares		1,500
Issuance of restricted stock, Shares		342
Noncontrolling interest in acquired companies	51,129		256				50,873
Net income (loss)	(24,262)				(26,252)		1,990
Foreign currency translation adjustment	733					733
Unrealized gain (loss) on available-for-sale securities	(1,655)					(1,655)
Ending Balance at Sep. 30, 2014	$ 112,982	$ 24	$ 131,472	$ (378)	$ (56,025)	$ (14,974)	$ 52,863
Ending Balance, shares at Sep. 30, 2014		23,658

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (24,262)	$ 127,441
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for doubtful accounts receivable	(114)	1,563
Share-based compensation expense	2,867	1,742
Depreciation and amortization	4,071	11,961
Amortization of deferred financing costs	288	0
(Gain) loss on sale or disposal of assets	635	(150,704)
(Gain) loss on sale of investments	(437)	0
Equity investment (income)/loss	479	0
Impairment of goodwill and long-lived assets	0	478
Amortization of debt discount	1,381	86
Loss on early extinguishment or restructuring of debt	6,947	21,178
Change in fair value of Contingent Value Rights	0	(14,904)
Deferred income taxes	1	(156)
Unrealized foreign currency transaction (gain) loss on intercompany and foreign debt	57	(700)
Other	1,307	0
Changes in assets and liabilities, net of acquisitions:
(Increase) decrease in accounts receivable	2,181	(5,201)
(Increase) decrease in costs and recognized earnings in excess of billings on uncompleted contracts	522	0
(Increase) decrease in inventories	(1,984)	0
(Increase) decrease in prepaid expenses and other current assets	2,839	(2,087)
(Increase) decrease in other assets	1,558	2,896
Increase (decrease) in accounts payable	1,976	(2,157)
Increase (decrease) in accrued interconnection costs	(2,618)	6,732
Increase (decrease) in accrued payroll and employee benefits	3,055	0
Increase (decrease) in accrued expenses, other current liabilities and other liabilities, net	(2,300)	(7,620)
Increase (decrease) in billings in excess of costs and recognized earnings on uncompleted contracts	(7,695)	0
Increase (decrease) in accrued income taxes	(2,198)	(3,506)
Increase (decrease) in accrued interest	502	(1,715)
Net cash provided by (used in) operating activities	(10,942)	(14,673)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(4,064)	(12,034)
Sale of property and equipment and other assets	3,696	9
Purchase of investments	(18,640)	0
Investment in debt security	(250)	0
Sale of investments	1,135	0
Cash from disposition of business, net of cash disposed	25,700	270,659
Cash paid for business acquisitions, net of cash acquired	(166,510)	(397)
Purchase of noncontrolling interest	(6,978)	0
Contribution by noncontrolling interest	15,500	0
Decrease in restricted cash	0	425
Net cash (used in) provided by investing activities	(150,411)	258,662
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term obligations	492,068	0
Principal payments on long-term obligations	(294,237)	(128,008)
Payment of fees on restructuring of debt	(837)	(1,256)
Proceeds from sale of common stock, net	6,000	1,145
Proceeds from sale of preferred stock, net	39,765	0
Proceeds from the exercise of warrants and stock options	24,344	0
Payment of dividend equivalents	0	(1,235)
Payment of dividends	(750)	(119,788)
Taxes paid in lieu of shares issued for share-based compensation	(41)	(837)
Net cash provided by (used) in financing activities	266,312	(249,979)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(2,217)	(1,669)
NET CHANGE IN CASH AND CASH EQUIVALENTS	102,742	(7,659)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	8,997	23,197
CASH AND CASH EQUIVALENTS, END OF PERIOD	111,739	15,538
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	2,388	10,367
Cash paid for taxes	7,761	608
Non-cash investing and financing activities:
Capital lease additions	$ 0	$ 148

Organization and Business

Organization and Business	9 Months Ended
	Sep. 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 “Series A 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 (“May Credit Facility”), 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% . In October 2014, the final results of a tender offer for all outstanding shares of Schuff were announced and the Company accepted for purchase 733,634 shares, which had the effect of increasing the Company’s ownership interest to 89% . On October 29, 2014, we entered into an open-market transaction to increase our ownership of Schuff to 90.6% , and we intend to execute a short-form merger as soon as practicable. Such short-form merger will increase our ownership of Schuff shares to 100% . Schuff and its wholly-owned subsidiaries primarily operate as integrated fabricators and erectors of structural steel and heavy steel plates 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. On August 1, 2014 , the Company paid $15.5 million to acquire 15,500 shares of Series A Convertible Preferred Stock of American Natural Gas (“ANG”), representing an approximately 51% interest in ANG. ANG is a premier distributor of natural gas motor fuel headquartered in the Northeast that designs, builds, owns, operates and maintains compressed natural gas fueling stations for transportation. On September 22, 2014 , the Company completed the acquisition of Bridgehouse Marine Limited (“Bridgehouse”), the parent holding company of Global Marine Systems Limited (“GMSL”). The purchase price reflects an enterprise value of approximately $260 million , including assumed indebtedness, and was funded using a portion of the net proceeds from (i) the issuance of $11 million of Series A-1 Convertible Participating Preferred Stock of HC2 (the “Series A-1 Preferred Stock”) and (ii) a senior secured credit facility providing for a twelve month (subject to extension for an additional twelve months if the Company meets certain requirements set forth in the credit agreement governing the senior secured credit facility) term loan of $214 million and a delayed draw term loan of $36 million , each of which was also completed on September 22, 2014. With a portion of these proceeds, the Company paid off its May Credit Facility and its senior unsecured credit facility consisting of a term loan of $17 million entered into on September 8, 2014 for the purpose of acquiring an ownership interest in Novatel Wireless, Inc. (“September Credit Facility”). GMSL is a leading provider of engineering and underwater services on submarine cables. In conjunction with the acquisition, approximately 3% of the Company’s interest in GMSL was reserved for a group of individuals, leaving the Company’s controlling interest as of September 30, 2014 at approximately 97% . GMSL has a 65% interest in Global Cable Technology, Ltd., which manufactures jointing kits. The assets, liabilities, revenue and expenses of Global Cable Technology, Ltd. are included in the consolidated financial statements of GMSL and the 35% interest is presented as a non-controlling interest component of total equity. We have historically operated a telecommunications business including 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 Primus Telecommunications, Inc. (“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. During 2013, we also provided data center services in Canada through our BLACKIRON Data business unit. On April 17, 2013, we consummated the divestiture of BLACKIRON Data. The Company currently has five 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, Manufacturing which includes Schuff, Marine Services which includes GMSL, and Utilities which includes ANG. 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 nine months ended September 30, 2014 to correct the improper recording of items related to the following: • Proper recognition of transactions associated with Schuff International, Inc. ("Schuff") as part of purchase accounting as well as proper valuation of the ANG business acquisition resulting in goodwill. • The Company completed the acquisition of GMSL on September 22, 2014, but treated the acquisition as having closed on September 30, 2014. As a result, eight days of activity were excluded from the results of operations. The Company also identified items related to the opening balance sheet as well as conforming balance sheet reclassifications related to the purchase accounting for GMSL. • The Company incorrectly valued our share-based compensation expense for the three and nine months ended September 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. • The Company reclassified redeemable non-controlling interest from permanent equity to temporary equity. • 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 nine months ended September 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 three and nine months ended September 30, 2014: HC2 HOLDINGS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 As Reported Adjustments As Restated As Reported Adjustments As Restated NET REVENUE $ 179,433 $ 3,856 $ 183,289 $ 319,373 $ 3,856 $ 323,229 OPERATING EXPENSES Cost of revenue 158,639 2,856 161,495 282,606 2,856 285,462 Selling, general and administrative 20,246 3,210 23,456 40,482 2,674 43,156 Depreciation and amortization 921 — 921 1,475 — 1,475 (Gain) loss on sale or disposal of assets (448 ) 445 (3 ) (81 ) — (81 ) Asset impairment expense — — — — — — Total operating expenses 179,358 6,511 185,869 324,482 5,530 330,012 INCOME (LOSS) FROM OPERATIONS 75 (2,655 ) (2,580 ) (5,109 ) (1,674 ) (6,783 ) INTEREST EXPENSE (2,103 ) — (2,103 ) (3,116 ) — (3,116 ) AMORTIZATION OF DEBT DISCOUNT (805 ) — (805 ) (1,381 ) — (1,381 ) LOSS ON EARLY EXTINGUISHMENT OR RESTRUCTURING OF DEBT (6,947 ) — (6,947 ) (6,947 ) — (6,947 ) GAIN FROM CONTINGENT VALUE RIGHTS VALUATION — — — — — — INTEREST INCOME AND OTHER EXPENSE, net (1,092 ) 1,121 29 524 — 524 FOREIGN CURRENCY TRANSACTION GAIN (LOSS) 170 — 170 573 — 573 INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME (LOSS) FROM EQUITY INVESTEES (10,702 ) (1,534 ) (12,236 ) (15,456 ) (1,674 ) (17,130 ) INCOME (LOSS) FROM EQUITY INVESTEES (288 ) (191 ) (479 ) (288 ) (191 ) (479 ) INCOME TAX (EXPENSE) BENEFIT (4,515 ) 208 (4,307 ) (6,470 ) — (6,470 ) INCOME (LOSS) FROM CONTINUING OPERATIONS (15,505 ) (1,517 ) (17,022 ) (22,214 ) (1,865 ) (24,079 ) INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax (106 ) — (106 ) (62 ) — (62 ) GAIN (LOSS) FROM SALE OF DISCONTINUED OPERATIONS, net of tax 663 — 663 (121 ) — (121 ) NET INCOME (LOSS) (14,948 ) (1,517 ) (16,465 ) (22,397 ) (1,865 ) (24,262 ) Less: Net (income) loss attributable to noncontrolling interest (931 ) — (931 ) (1,990 ) — (1,990 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (15,879 ) (1,517 ) (17,396 ) (24,387 ) (1,865 ) (26,252 ) Less: Preferred stock dividends and accretion 1,004 — 1,004 1,204 — 1,204 NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS $ (16,883 ) $ (1,517 ) $ (18,400 ) $ (25,591 ) $ (1,865 ) $ (27,456 ) BASIC INCOME (LOSS) PER COMMON SHARE: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.75 ) $ (0.07 ) $ (0.82 ) $ (1.38 ) $ (0.11 ) $ (1.49 ) Income (loss) from discontinued operations — — — — — — Gain (loss) from sale of discontinued operations 0.03 — 0.03 (0.01 ) — (0.01 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (0.72 ) $ (0.07 ) $ (0.79 ) $ (1.39 ) $ (0.11 ) $ (1.50 ) DILUTED INCOME (LOSS) PER COMMON SHARE: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.75 ) $ (0.07 ) $ (0.82 ) $ (1.38 ) $ (0.11 ) $ (1.49 ) Income (loss) from discontinued operations — — — — — — Gain (loss) from sale of discontinued operations 0.03 — 0.03 (0.01 ) — (0.01 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (0.72 ) $ (0.07 ) $ (0.79 ) $ (1.39 ) $ (0.11 ) $ (1.50 ) WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic 23,372 23,372 23,372 18,348 18,348 18,348 Diluted 23,372 23,372 23,372 18,348 18,348 18,348 AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF HC2 HOLDINGS, INC. Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (17,440 ) $ (1,517 ) $ (18,957 ) $ (25,408 ) $ (1,865 ) $ (27,273 ) Income (loss) from discontinued operations (106 ) — (106 ) (62 ) — (62 ) Gain (loss) from sale of discontinued operations 663 — 663 (121 ) — (121 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (16,883 ) $ (1,517 ) $ (18,400 ) $ (25,591 ) $ (1,865 ) $ (27,456 ) HC2 HOLDINGS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in thousands) Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 As Reported Adjustments As Restated As Reported Adjustments As Restated NET INCOME (LOSS) $ (14,948 ) $ (1,517 ) $ (16,465 ) $ (22,397 ) $ (1,865 ) $ (24,262 ) OTHER COMPREHENSIVE INCOME (LOSS) Foreign currency translation adjustment (21 ) 888 867 (155 ) 888 733 Unrealized gain (loss) on available-for-sale securities (1,655 ) — (1,655 ) (1,655 ) — (1,655 ) Less: Other comprehensive (income) attributable to the noncontrolling interest $ (931 ) — (931 ) (1,990 ) — (1,990 ) COMPREHENSIVE INCOME ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (17,555 ) $ (629 ) $ (18,184 ) $ (26,197 ) $ (977 ) $ (27,174 ) HC2 HOLDING, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) As of September 30, 2014 As Reported Adjustments As Restated ASSETS CURRENT ASSETS: Cash and cash equivalents $ 111,739 $ — $ 111,739 Short-term investments 3,253 — 3,253 Accounts receivable (net of allowance for doubtful accounts receivable of $4,639 and $2,476 at September 30, 2014 and December 31, 2013, respectively) 170,516 54 170,570 Costs and recognized earnings in excess of billings on uncompleted contracts 26,604 — 26,604 Inventories 23,894 — 23,894 Prepaid expenses and other current assets 23,693 13,222 36,915 Assets held for sale 3,865 — 3,865 Total current assets 363,564 13,276 376,840 LONG-TERM INVESTMENTS 47,350 (5,450 ) 41,900 PROPERTY, PLANT AND EQUIPMENT—Net 239,562 (4,954 ) 234,608 GOODWILL 35,513 (3,636 ) 31,877 OTHER INTANGIBLE ASSETS—Net 21,161 2,761 23,922 OTHER ASSETS 22,721 — 22,721 TOTAL ASSETS $ 729,871 $ 1,997 $ 731,868 LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $ 55,811 — $ 55,811 Accrued interconnection costs 9,969 — 9,969 Accrued payroll and employee benefits 15,385 — 15,385 Accrued expenses and other current liabilities 49,394 8,506 57,900 Billings in excess of costs and recognized earnings on uncompleted contracts 58,403 4,700 63,103 Accrued income taxes 302 — 302 Accrued interest 578 — 578 Current portion of long-term debt 22,408 — 22,408 Liabilities held for sale — — — Total current liabilities 212,250 13,206 225,456 LONG-TERM DEBT 290,394 — 290,394 PENSION LIABILITY 46,172 187 46,359 DEFERRED TAX LIABILITY 12,363 (304 ) 12,059 OTHER LIABILITIES 1,726 (694 ) 1,032 Total liabilities 562,905 12,395 575,300 COMMITMENTS AND CONTINGENCIES (See Note 11) TEMPORARY EQUITY (See Note 14) Preferred stock, $0.001 par value—20,000,000 shares authorized; Series A—30,000 and 0 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively; Series A-1—11,000 and 0 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively 39,524 — 39,524 Redeemable non-controlling interest — 4,062 4,062 Total temporary equity 39,524 4,062 43,586 STOCKHOLDERS’ EQUITY: Common stock, $0.001 par value—80,000,000 shares authorized; 23,689,816 and 14,257,545 shares issued and 23,658,190 and 14,225,919 shares outstanding at September 30, 2014 and December 31, 2013, respectively 24 — 24 Additional paid-in capital 134,748 (3,276 ) 131,472 Retained earnings (accumulated deficit) (54,160 ) (1,865 ) (56,025 ) Treasury stock, at cost—31,626 shares at September 30, 2014 and December 31, 2013, respectively (378 ) — (378 ) Accumulated other comprehensive loss (15,862 ) 888 (14,974 ) Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest 64,372 (4,253 ) 60,119 Non-controlling interest 63,070 (10,207 ) 52,863 Total permanent equity 127,442 (14,460 ) 112,982 TOTAL LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY $ 729,871 $ 1,997 $ 731,868 HC2 HOLDINGS, INC. CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY (in thousands) As of September 30, 2014 As Reported Adjustments As Restated Common Stock $ 24 $ — $ 24 Additional Paid-In Capital 134,748 (3,276 ) 131,472 Treasury Stock (378 ) — (378 ) Earnings (Accumulated Deficit) (54,160 ) (1,865 ) (56,025 ) Accumulated Other Comprehensive Income (Loss) (15,862 ) 888 (14,974 ) Noncontrolling Interest 63,070 (10,207 ) 52,863 Total Stockholders' Equity $ 127,442 $ (14,460 ) $ 112,982 HC2 HOLDINGS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Nine Months Ended September 30, 2014 As Reported Adjustments As Restated CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (22,397 ) $ (1,865 ) $ (24,262 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Provision for doubtful accounts receivable (114 ) — (114 ) Share-based compensation expense 1,725 1,142 2,867 Depreciation and amortization 4,071 — 4,071 Amortization of deferred financing costs 288 — 288 (Gain) loss on sale or disposal of assets 635 — 635 (Gain) loss on sale of investments (437 ) — (437 ) Equity investment (income)/loss 288 191 479 Impairment of goodwill and long-lived assets — — — Amortization of debt discount 1,381 — 1,381 Loss on early extinguishment or restructuring of debt 6,947 — 6,947 Change in fair value of Contingent Value Rights — — — Deferred income taxes 1 — 1 Unrealized foreign currency transaction (gain) loss on intercompany and foreign debt 57 — 57 Other — 1,307 1,307 Changes in assets and liabilities, net of acquisitions: (Increase) decrease in accounts receivable 6,037 (3,856 ) 2,181 (Increase) decrease in costs and recognized earnings in excess of billings on uncompleted contracts 522 — 522 (Increase) decrease in inventories (1,984 ) — (1,984 ) (Increase) decrease in prepaid expenses and other current assets 25,539 (22,700 ) 2,839 (Increase) decrease in other assets 1,558 — 1,558 Increase (decrease) in accounts payable 1,751 225 1,976 Increase (decrease) in accrued interconnection costs (2,618 ) — (2,618 ) Increase (decrease) in accrued payroll and employee benefits 3,055 — 3,055 Increase (decrease) in accrued expenses, other current liabilities and other liabilities, net (5,156 ) 2,856 (2,300 ) Increase (decrease) in billings in excess of costs and recognized earnings on uncompleted contracts (7,695 ) — (7,695 ) Increase (decrease) in accrued income taxes (2,198 ) — (2,198 ) Increase (decrease) in accrued interest 502 — 502 Net cash provided by (used in) operating activities 11,758 (22,700 ) (10,942 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property, plant and equipment (4,064 ) — (4,064 ) Sale of property and equipment and other assets 3,696 — 3,696 Purchase of investments (18,640 ) — (18,640 ) Investment in debt security (250 ) — (250 ) Sale of investments 1,135 — 1,135 Cash from disposition of business, net of cash disposed — 25,700 25,700 Cash paid for business acquisitions, net of cash acquired (163,510 ) (3,000 ) (166,510 ) Purchase of noncontrolling interest (6,978 ) — (6,978 ) Contribution by noncontrolling interest 15,500 — 15,500 Decrease in restricted cash — — — Net cash (used in) provided by investing activities (173,111 ) 22,700 (150,411 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from long-term obligations 492,068 — 492,068 Principal payments on long-term obligations (294,237 ) — (294,237 ) Payment of fees on restructuring of debt (837 ) — (837 ) Proceeds from sale of common stock, net 6,000 — 6,000 Proceeds from sale of preferred stock, net 39,765 — 39,765 Proceeds from the exercise of warrants and stock options 24,344 — 24,344 Payment of dividend equivalents — — — Payment of dividends (750 ) — (750 ) Taxes paid in lieu of shares issued for share-based compensation (41 ) — (41 ) Net cash provided by (used) in financing activities 266,312 — 266,312 EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (2,217 ) — (2,217 ) NET CHANGE IN CASH AND CASH EQUIVALENTS 102,742 — 102,742 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 8,997 — 8,997 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 111,739 $ — $ 111,739 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest $ 2,388 $ — $ 2,388 Cash paid for taxes $ 7,761 $ — $ 7,761 Non-cash investing and financing activities: Capital lease additions $ — $ — $ —

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 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 nine months ended September 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, which for the third quarter of 2014 ended on September 28, 2014. Principles of Consolidation —The Condensed Consolidated Financial Statements include the accounts of the Company, 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. As of September 30, 2014 , the Company has a 97% interest in GMSL, a 70% interest in Schuff, a 51% interest in ANG and an 80% interest in Genovel. The results of GMSL, Schuff, ANG and Genovel are consolidated with the Company’s results (with respect to results of operations of GMSL, Schuff and ANG, from and after their respective acquisition dates) based on guidance from the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 810, “Consolidation” (“ASC 810”). The remaining interests not owned by the Company are presented as a non-controlling interest component of total equity. The Company determined that the results of operation for GMSL for the period September 22, 2014 – September 30, 2014 were immaterial and therefore did not include GMSL’s results of operations in the condensed consolidated statements of operations for the three and nine months ended September 30, 2014 . 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. The Company completed the initial closing of the sale of its North America Telecom business on July 31, 2013 and completed the divestiture of the remainder of its North America Telecom business on July 31, 2014 (see Note 18—“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 nine months ended September 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 nine months ended September 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 December 31, 2013 . See Note 18—“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 Schuff —Inventories, primarily steel components, are stated at the lower of cost or market under the first-in, first-out method. GMSL —Inventory is valued at the lower of cost or market value under the first-in first-out method. Provision for obsolescence is made where appropriate and is charged to cost of revenue in the condensed consolidated statements of operations. Short-term work in progress on contracts is stated at cost less foreseeable losses. These costs include only direct labor and expenses incurred to date and exclude any allocation of overhead. The policy for long-term work in progress contracts is disclosed within the Revenue and Cost Recognition accounting policy for GMSL. 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 Companyb 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 are 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. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. Cost includes finance costs incurred prior to the asset being available 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, up to 35 years for cable-ships and submersibles, 3 to 15 years for machinery and equipment, and 3 to 20 years for plant and motor vehicles. Plant includes equipment on the cable-ships that is portable and can be moved around the fleet. Plant also includes computer equipment. Leasehold improvements are amortized over the lives of the leases or estimated useful lives of the assets, whichever is shorter. Assets under construction are not depreciated until they are complete and available for use. 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 and GMSL, each became their own reporting unit in May 2014 and September 2014 , respectively, 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 subject to amortization consists of certain trade names, customer contracts and developed technology. 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) —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 18—“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 September 30, 2014 , Schuff had $30.30 million of unapproved change orders on open projects, for which it has recognized revenues on a percentage of completion 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 September 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. ICS —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. Pensions —GMSL operates various pension schemes comprising both defined benefit plans and defined contribution plans. GMSL also makes contributions on behalf of employees who are members of the Merchant Navy Officers Pension Fund (“MNOPF”). For the defined benefit plans and the MNOPF plan, the amounts charged to income (loss) from operations are the current service costs and the gains and losses on settlements and curtailments. These are included as part of staff costs. Past service costs are recognized immediately if the benefits have vested. If the benefits have not vested immediately, the costs are recognized over the period vesting occurs. The interest costs and expected return of assets are shown as a net amount and included in interest income and other income (expense). Actuarial gains and losses are recognized immediately in the statement of operations. Defined benefit plans are funded with the assets of the plan held separately from those of GMSL, in separate trustee administered funds. Pension plan assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method discounted at a rate of equivalent currency and term to the plan liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. For the defined contribution plans, the amount charged to income (loss) from operations in respect of pension costs is the contributions payable in the period. Differences between contributions payable in the period and contributions actually paid are shown as either accruals or prepayments in the condensed consolidated balance sheet. 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 period. 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 FA

Accounts Receivable and Contrac

Accounts Receivable and Contracts in Progress	9 Months Ended
	Sep. 30, 2014
Receivables [Abstract]
Accounts Receivable and Contracts in Progress	ACCOUNTS RECEIVABLE AND CONTRACTS IN PROGRESS Accounts receivable consist of the following (in thousands): September 30, December 31, Contract receivables: Contracts in progress $ 91,908 $ — Unbilled retentions 33,693 — Trade receivables 48,228 21,456 Other receivables 1,380 — Allowance for doubtful accounts (4,639 ) (2,476 ) $ 170,570 $ 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: September 30, December 31, Costs incurred on contracts in progress $ 479,009 $ — Estimated earnings 51,923 — 530,932 — Less progress billings 562,731 — $ (31,799 ) $ — 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 26,604 — Billings in excess of costs and recognized earnings on uncompleted contracts (58,403 ) — $ (31,799 ) $ —

Inventories

Inventories	9 Months Ended
	Sep. 30, 2014
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories consist of the following (in thousands): September 30, December 31, Raw materials $ 22,542 $ — Work in process 1,147 — Finished goods 205 — $ 23,894 $ —

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2014
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS Schuff 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% . In October 2014, the final results of tender offer for all outstanding shares of Schuff was announced and the Company accepted for purchase 733,634 shares, which had the effect of increasing the Company’s ownership interest to 89% . On October 29, 2014 , we entered into an open-market transaction to increase our ownership of Schuff to 90.6% , and we intend to execute a short-form merger as soon as practicable. Such short-form merger will increase our ownership of Schuff shares to 100% . Schuff and its wholly-owned subsidiaries primarily operate as integrated fabricators and erectors of structural steel and heavy steel plates 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 Condensed Consolidated 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 fair value of the noncontrolling interest of 35% . The preliminary purchase price allocation 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 Minority 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 ANG On August 1, 2014 , the Company paid $15.5 million to acquire 15,500 shares of Series A Convertible Preferred Stock of ANG, representing an approximately 51% interest in ANG. ANG is a premier distributor of natural gas motor fuel headquartered in the Northeast that designs, builds, owns, operates and maintains compressed natural gas fueling stations for transportation. The Company acquired ANG for its strong growth potential which is in line with the Company’s strategy to find investments that can generate high returns and significant cash flow. The transaction was accounted for using the acquisition method of accounting. The table below summarizes the preliminary estimates of fair value of the ANG 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 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 ANG was valued at $23.7 million which represented both the cash paid by the Company for its 51% interest, and the fair value of the noncontrolling interest of 49% . The purchase price allocation (as restated) is as follows (in thousands): Cash and cash equivalents $ 15,704 Accounts receivable 306 Prepaid expenses and other current assets 31 Inventories 27 Property and equipment, net 1,921 Customer contracts 2,700 Trade names 6,300 Other assets 2 Goodwill 1,374 Total assets acquired 28,365 Accounts payable 49 Accrued payroll and employee benefits 5 Accrued expenses and other current liabilities 26 Billings in excess of costs and recognized earnings on uncompleted contracts 114 Current portion of long-term debt 34 Long-term debt 870 Deferred tax liability 3,530 Total liabilities assumed 4,628 Enterprise value 23,737 Less fair value of non-controlling interest 8,237 Purchase price attributable to controlling interest $ 15,500 The acquisition of ANG resulted in goodwill of approximately $1.4 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): Useful Lives Value August 1, 2014 Customer contracts 4 years $ 2,700 Trade names 15 years 6,300 Total intangible assets $ 9,000 GMSL On September 22, 2014 , the Company completed the acquisition of Bridgehouse and its subsidiary, GMSL. The purchase price reflects an enterprise value of approximately $260 million , including assumed indebtedness. GMSL is a leading provider of engineering and underwater services on submarine cables. The Company acquired GMSL for its attractive valuation and strong cash position. The transaction was accounted for using the acquisition method of accounting. The table below summarizes the fair value of the GMSL 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 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. Specifically, the values for goodwill, customer contracts, trade name, developed technology and investments may change. The net enterprise value of GMSL was valued at $130.4 million which represented both the cash paid by the Company for its 97% interest, and the fair value of the noncontrolling interest of 3% . The purchase price allocation as restated is as follows (in thousands): Cash and cash equivalents $ 62,555 Accounts receivable 22,381 Prepaid expenses and other current assets 23,108 Inventories 7,395 Restricted cash 4,682 Property and equipment, net 152,022 Goodwill 1,366 Customer contracts 8,121 Trade name 1,137 Developed technology 1,299 Investments 26,767 Other assets 7,482 Total assets acquired 318,315 Accounts payable 8,740 Accrued expenses and other current liabilities 44,136 Accrued income taxes 1,251 Current portion of long-term debt 8,140 Long-term debt 78,356 Pension liability 46,110 Deferred tax liability 709 Other liabilities 485 Noncontrolling interest — Total liabilities assumed 187,927 Net enterprise value 130,388 Less fair value of noncontrolling interest 3,803 Purchase price attributable to controlling interest $ 126,585 The acquisition of GMSL resulted in goodwill of approximately $1.4 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 values for goodwill, customer contracts, trade name, developed technology and investments are estimates and may change. The acquired amortizable intangible assets and the related estimated useful lives consist of the following (in thousands): Useful Lives Value September 22, 2014 (As Restated) Customer contracts 15 years $ 8,121 Trade name 3 years 1,137 Developed technology 4 years 1,299 Total intangible assets $ 10,557 Pro Forma Adjusted Summary The results of operations for Schuff, ANG, and GMSL have been included in the Condensed Consolidated Financial Statements subsequent to their acquisition dates. 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 dates 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 acquisitions had occurred on January 1, 2013. This information does not purport to be indicative of the actual results that would have occurred if the acquisitions 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 2014 (As Restated) 2013 (As Restated) Net revenue $ 223,595 $ 212,021 Net income (loss) from continuing operations $ (15,553 ) $ 2,875 Net income (loss) from discontinued operations $ (106 ) $ (21,669 ) Gain (loss) from sale of discontinued operations $ 663 $ 15,650 Net income (loss) attributable to HC2 Holdings, Inc. $ (14,996 ) $ (2,912 ) Per share amounts: Income (loss) from continuing operations $ (0.67 ) $ 0.20 Income (loss) from discontinued operations $ — $ (1.54 ) Gain (loss) from sale of discontinued operations $ 0.03 $ 1.11 Net income (loss) attributable to HC2 $ (0.64 ) $ (0.21 ) Nine Months Ended 2014 (As Restated) 2013 (As Restated) Net revenue $ 630,230 $ 590,176 Net income (loss) from continuing operations $ 5,346 $ 8,239 Net income (loss) from discontinued operations $ (94 ) $ (19,850 ) Gain (loss) from sale of discontinued operations $ (121 ) $ 150,695 Net income (loss) attributable to HC2 Holdings, Inc. $ 5,131 $ 139,780 Per share amounts: Income (loss) from continuing operations $ 0.30 $ 0.59 Income (loss) from discontinued operations $ (0.01 ) $ (1.42 ) Gain (loss) from sale of discontinued operations $ (0.01 ) $ 10.77 Net income (loss) attributable to HC2 $ 0.28 $ 9.99 All expenditures incurred in connection with the acquisitions 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 nine months ended September 30, 2014 . Transaction costs incurred in connection with the GMSL acquisition were $4.3 million during the nine months ended September 30, 2014 . The results of operations for Schuff, ANG, and GMSL have been included in the condensed consolidated results of operations from the respective acquisition dates through September 30, 2014 . The Company recorded revenue of $137.7 million and $192.2 million and net income of $3.5 million and $6.1 million from Schuff for the three and nine months ended September 30, 2014 , respectively. The Company recorded revenue of $0.5 million and net loss of $0.4 million from ANG for the three and nine months ended September 30, 2014 . The Company recorded revenue of $3.9 million and net income of $0.6 million from GMSL for the three and nine months ended September 30, 2014 .

Investments

Investments	9 Months Ended
	Sep. 30, 2014
Investments Schedule [Abstract]
Investments	INVESTMENTS As of September 30, 2014 , the Company had both current and long-term investments. The current investments are classified as available-for-sale securities and the change in value is recognized within accumulated other comprehensive income (loss). The fair market value is determined using quoted market prices (a Level 1 approach). The long-term investments are comprised of two types of investments; those accounted for under the equity method of accounting and investments in debt securities. The long-term investments accounted for under the equity method of accounting include the following: • $26.5 million for investments in various joint ventures by GMSL; • $14.2 million in Novatel Wireless, Inc. for a combination of common stock, warrants and convertible preferred stock. The Company received (i) 7,363,334 shares of common stock at a stock price of $1.75 per share, (ii) 5 -year warrants to purchase an additional 4,117,647 shares of common stock at an exercise price of $2.26 per share and (iii) 87,196 shares of Series C Convertible Preferred Stock at a price of $17.50 per share. The Company’s initial ownership stake is approximately 17% ; and • $1.2 million in Kaneland LLC for stock under a subscription agreement representing a 35% ownership interest. During the three and nine months ended September 30, 2014 , the Company recorded $0.5 million of equity in net loss from these investments. As of September 30, 2014 , the net book value of the equity method investments was $41.6 million . The long-term investments in debt securities include $0.3 million of convertible debt of mParticle.

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 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): September 30, December 31, Land $ 19,646 $ — Buildings 22,183 — Building and leasehold improvements 7,804 386 Plants 2,451 — Cable-ships and submersibles 140,408 — Network equipment 5,273 5,303 Machinery and equipment 29,821 — Transportation equipment 1,894 — Furniture and fixtures 2,074 380 EDP equipment 1,978 — Construction in progress 4,520 — 238,052 6,069 Less accumulated depreciation and amortization 3,444 3,107 $ 234,608 $ 2,962 Depreciation expense was $2.8 million and $3.8 million for the three and nine months ended September 30, 2014 , respectively. Depreciation expense was immaterial for the three and nine months ended September 30, 2013 as a result of the property, plant and equipment of ICS being included in assets held for sale. As of September 30, 2014 and December 31, 2013 , total equipment under capital leases consisted of $80.8 million and $0 , respectively, of cable-ships and submersibles.

Accounts Payable

Accounts Payable	9 Months Ended
	Sep. 30, 2014
Payables and Accruals [Abstract]
Accounts Payable	ACCOUNTS PAYABLE Accounts payable consists of the following (in thousands): September 30, December 31, Accounts payable $ 52,064 $ 6,964 Retentions payable 3,747 — $ 55,811 $ 6,964

Long-Term Obligations

Long-Term Obligations	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]
Long-Term Obligations	LONG-TERM OBLIGATIONS Long-term debt consists of the following (in thousands): September 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 2016 $ 207,025 $ — Note payable collaterized by GMSL’s assets, with interest payable monthly at LIBOR plus 3.5% and principal payable monthly, maturing in 2019 17,913 — 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 13,610 — Note payable collaterized by Schuff’s real estate, with interest payable monthly at LIBOR plus 4% and principal payable monthly, maturing in 2019 4,792 — Note payable collaterized by ANG’s assets, with interest payable monthly at 5.5% and principal payable monthly, maturing in 2018 846 — Obligations under capital leases 68,584 — Other 32 — 312,802 — Less current portion 22,408 — $ 290,394 $ — Aggregate debt maturities are as follows (in thousands): 2014 $ 17,599 2015 14,296 2016 216,275 2017 12,796 2018 19,141 Thereafter 32,695 $ 312,802 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 HC 2 ) 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 September 22, 2014, the Company entered into a senior secured credit facility providing for a twelve month term loan of $214 million and a delayed draw term loan of $36 million relating to its acquisition of GMSL 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 Company used a portion of these proceeds to finance the acquisition of GMSL and pay off HC2’s May Credit Facility and September Credit Facility. The Credit Agreement contains certain customary representations, affirmative covenants and negative covenants, including a financial covenant that requires HC2to 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, GMSL and their respective subsidiaries. The Credit Agreement contains various restrictive covenants. At September 30, 2014 , the Company was in compliance with these covenants. Prior to the payoff of the May Credit Facility, the Company made partial principal payments according to covenants within the agreement that required that portions of escrows received and proceeds from the exercise of warrants be used to pay down the May Credit Facility. In connection with those partial prepayments, the Company wrote off $0.1 million of deferred financing costs and $1.9 million of original issue discount in the third quarter of 2014. In connection with the payoff of the remaining balance of the May Credit Facility, the Company incurred $0.9 million of prepayment premiums and wrote off $0.3 million of deferred financing costs and $2.5 million of original issue discount in the third quarter of 2014. In connection with the payoff of the September Credit Facility, the Company wrote off $0.4 million of deferred financing costs and $0.8 million of original issue discount in the third quarter of 2014. Schuff has a Credit and Security Agreement (the “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 year 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. On September 26, 2014 and October 21, 2014, Schuff amended the Schuff Facility to allow for a new $15.0 million term loan to be used for equipment financing and working capital requirements related to a recent project award. The new term loan has a five -year amortization period with terms substantially similar to the Real Estate Term Advance. The October 21, 2014 amendment also reduces the restrictions on dividend payments to shareholders. The amendment allows dividends to be paid to Schuff shareholders up to four times a year, subject to the following conditions: (a) the consent of Wells Fargo, which is the Schuff Facility lender (which consent shall not be unreasonably withheld); (b) maintenance of a fixed charge ratio of 1.2 to 1 ; (c) a minimum excess availability under the Schuff Facility of $10 million before and after the payment of a dividend and (d) Schuff is not in default under the Schuff Facility at the time of the dividend payment. 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 September 28, 2014) and requires monthly interest payments. The Credit Facility contains various restrictive covenants. At September 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 . On October 30, 2014, Banco General sent a notification that they were reducing the line of credit from $3,500,000 to $2,000,000 . 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. GMSL established a term loan with DVB Bank in January 2014. This term loan has a 4.5 year term and bears interest at the rate of 3.65% plus the USD LIBOR rate. As of September 30, 2014 , £11,028,736 in principal amount (the equivalent of $17,912,516 based on conversion rates in effect as of September 30, 2014 ) remained outstanding under this term loan. At September 30, 2014 , the Company had $312.8 million of borrowings and $3.9 million of outstanding letters of credit issued under its credit facilities. There was $32.5 million available under the Schuff Credit Facility at September 30, 2014 . At September 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 September 30, 2014 . GMSL Capital Leases GMSL is a party to two leases to finance the use of two vessels: the Innovator (such applicable lease, the “Innovator Lease”) and the Cable Retriever (such applicable lease, the “Cable Lease,” and together with the Innovator Lease, the “GMSL Leases”). The Innovator Lease expires in 2018 , subject to the Company’s ability to extend the Innovator Lease for four one -year periods through 2022 . The principal amount thereunder bears interest at the rate of approximately 10.4% . The Cable Lease expires in 2023 . The principal amount thereunder bears interest at the rate of approximately 4.0% . As of September 30, 2014 , £42,227,000 in aggregate principal amount (the equivalent of 68,583,786 based on conversion rates in effect as of September 30, 2014 ) remained outstanding under the GMSL Leases.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Income Tax Expense/Benefit Income tax expense was $4.3 million (as restated) and $6.5 million (as restated) for the three and nine months ended September 30, 2014 , respectively and income tax benefit of $3.3 million and $3.1 million for the three and nine months ended September 30, 2013 , respectively. The increase in tax expense was due primarily to the taxable income at Schuff. NOL Limitation As of September 30, 2014 , the Company had an estimated NOL carryforward in the amount of $195 million . This amount does not include 2014 activity. 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 Series A Preferred Stock and 1,500,000 shares of common stock to finance 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 nine months ended September 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	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Future minimum lease payments under non-cancellable operating leases as of September 30, 2014 are as follows (in thousands): Year Ending December 31, Operating Leases 2014 (as of September 30, 2014) $ 1,235 2015 4,448 2016 3,817 2017 3,048 2018 2,264 Thereafter 12,393 Total long-term obligations $ 27,205 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 $0.8 million and $4.2 million for the three and nine months ended September 30, 2014 , respectively and $0.5 million and $2.2 million for the three and nine months ended September 30, 2013 , respectively. The rent expense for the three and nine months ended September 30, 2014 includes costs associated with the terminations of facilities leases. Litigation The Company is subject to 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	9 Months Ended
	Sep. 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 September 30, 2014 was approximately $0.8 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 $1.1 million during the nine months ended September 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 September 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 in the profit share contributions three years from the date of hire. Union steelworkers are not required to make contributions to the Union 401(k) 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 $50,000 for the nine months ended September 30, 2014 .

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 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 September 30, 2014 , there were 472,002 shares of HC2 common stock underlying outstanding awards under the Prior Plan. 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 Omnibus 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. 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 3,427,767 and 690,948 options granted during the nine months ended September 30, 2014 and 2013 , respectively. Of the 3,427,767 options granted during the nine months ended September 30, 2014 , 3,350,946 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 nine months ended September 30, 2014 was $1.46 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: Nine Months Ended September 30, 2014 2013 Expected option life 5.83 years 4 - 5.75 years Risk-free interest rate 1.65% - 2.73% 1.17 - 1.73% Expected volatility 36.74% - 37.80% 35.55 - 37.23% Dividend yield —% —% Total share-based compensation expense recognized by the Company was $1.2 million (as restated) and $2.9 million (as restated) for the three and nine months ended September 30, 2014 , respectively and $0.2 million and $1.7 million for the three and nine months ended September 30, 2013 , 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 A summary of HC2’s restricted stock activity during the nine months ended September 30, 2014 is as follows: Shares Weighted Unvested—December 31, 2013 22,500 $ 13.59 Granted 345,761 $ 4.05 Vested (133,833 ) $ 5.52 Forfeitures — $ — Unvested—September 30, 2014 234,428 $ 4.14 As of September 30, 2014 , the unvested restricted stock represented $0.9 million of compensation expense that is expected to be recognized over the weighted average remaining vesting period of 1.7 years . The number of shares of unvested restricted stock expected to vest is 234,428 . Stock Options A summary of HC2’s stock option activity during the nine months ended September 30, 2014 is as follows: Shares Weighted Average Exercise Price Outstanding—December 31, 2013 589,859 $ 3.17 Granted 3,427,767 $ 4.29 Exercised (230,300 ) $ 2.43 Forfeitures (229,901 ) $ 4.47 Outstanding—September 30, 2014 3,557,425 $ 4.26 Eligible for exercise 1,261,594 $ 4.20 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—September 30, 2014 $ 1,126,901 9.8 Options exercisable—September 30, 2014 $ 461,482 9.6 During the nine months ended September 30, 2014 , the intrinsic value of the exercised options was $0.3 million . As of September 30, 2014 , the Company had 2,295,831 unvested stock options outstanding of which $2.9 million of compensation expense is expected to be recognized over the weighted average remaining vesting period of 1.7 years . The number of unvested stock options expected to vest is 2,295,831 shares, with a weighted average remaining life of 9.8 years , a weighted average exercise price of $4.26 , and an intrinsic value of $0.7 million .

Equity

Equity	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]
Equity	EQUITY As of September 30, 2014 and December 31, 2013 , there were 23,658,190 and 14,225,919 shares of common stock outstanding, respectively. As of September 30, 2014 and December 31, 2013 , there were 41,000 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 were divided into three separate series (Class A-1, Class A-2 and Class A-3 Warrants), each of which series consisted 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 had a five -year term which 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. There were 878,940 Class A-1 Warrants exercised during the nine months ended September 30, 2014 , resulting in the issuance of 3,855,289 shares of HC2’s common stock. There were 780,753 Class A-2 Warrants exercised during the nine months ended September 30, 2014 , resulting in the issuance of 3,424,641 shares of HC2’s common stock. There were 5,709 Class A-3 Warrants exercised during the nine months ended September 30, 2014 , resulting in the issuance of 25,041 shares of HC2’s common stock. The warrants expired on July 1, 2014 . Preferred and Common Stock On May 29, 2014, HC2 issued 30,000 shares of Series A 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. On September 22, 2014, HC2 issued 11,000 shares of Series A-1 Preferred Stock (together with the Series A Preferred Stock, the “Preferred Stock”). Each share of Series A-1 Preferred Stock is convertible at a conversion price of $4.25 . In connection with the issuance of the Series A-1 Preferred Stock, HC2 amended the certificate of designation governing the Series A Preferred Stock on September 22, 2014, which changed the applicable conversion price from $4.25 to $4.00 , reflected the issuance of the Series A-1 Preferred Stock as a class of preferred stock which ranks at parity with the Series A Preferred Stock and made certain other changes to conform the terms of the Series A Preferred Stock to those of the Series A-1 Preferred Stock. The conversion prices for the Preferred Stock are subject to adjustments 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. The Company recorded a beneficial conversion feature on both of its Series A and Series A-1 Preferred Stock as a result of the fair market value of the Company’s common stock exceeding the conversion price. The Company recorded a $0.3 million beneficial conversion feature on its Series A-1 Preferred Stock which was calculated using the intrinsic value ( $4.36 — $4.25 ) multiplied by the number of convertible common shares ( $11,000,000 / $4.25 ). The Company recorded a $0.4 million beneficial conversion feature on its Series A Preferred Stock as a result of the adjustment to the conversion price from $4.25 to $4.00 . The beneficial conversion feature was calculated using the intrinsic value ( $4.05 — $4.00 ) multiplied by the number of convertible common shares ( $30,000,000 / $4.00 ). 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 of the Series A Preferred Stock, 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 of the Series A Preferred Stock 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 of the Series A Preferred Stock, 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 of the Series A Preferred Stock, 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 shares of 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	9 Months Ended
	Sep. 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 in available-for-sale securities, recorded at fair value using quoted market prices (a Level 1 approach), as of September 30, 2014 was $3.3 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 $312.8 million at September 30, 2014 .

Operating Segment and Related I

Operating Segment and Related Information	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]
Operating Segment and Related Information	OPERATING SEGMENT AND RELATED INFORMATION The Company currently has two primary reportable geographic segments—United States and United Kingdom; and Other. The Company has five reportable operating segments based on management’s organization of the enterprise—Telecommunications, Life Sciences, Manufacturing, Marine Services and Utilities. The Company also has non-operating Corporate segment. Net revenue and long-lived assets by geographic segment is reported on the basis of where the entity is domiciled. 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 Nine Months Ended September 30, September 30, September 30, September 30, Net Revenue by Geographic Region United States $ 161,402 $ 31,863 $ 266,390 $ 79,126 United Kingdom 19,534 29,214 53,216 99,361 Other 2,353 — 3,623 — Total $ 183,289 $ 61,077 $ 323,229 $ 178,487 Net Revenue by Segment Telecommunications $ 41,267 $ 61,077 $ 126,731 $ 178,487 Manufacturing 137,706 — 192,182 — Utilities 460 — 460 — Marine Services 3,856 — 3,856 — Total $ 183,289 $ 61,077 $ 323,229 $ 178,487 Income (Loss) from Operations Telecommunications $ (1,344 ) $ (4,113 ) $ (1,241 ) $ (21,106 ) Life Sciences (495 ) — (1,430 ) — Manufacturing 9,071 — 14,843 — Utilities (758 ) — (758 ) — Marine Services (532 ) — (532 ) — Corporate (8,522 ) — (17,665 ) — Total $ (2,580 ) $ (4,113 ) $ (6,783 ) $ (21,106 ) Capital Expenditures Telecommunications $ 38 $ 2,079 $ 294 $ 12,034 Manufacturing 3,321 — 3,707 — Utilities 41 — 41 — Corporate — — 22 — Total $ 3,400 $ 2,079 $ 4,064 $ 12,034 The above capital expenditures exclude assets acquired under terms of capital lease and vendor financing obligations. September 30, December 31, Property, Plant and Equipment—Net United States $ 76,673 $ 2,303 United Kingdom 152,403 659 Other 5,532 — Total $ 234,608 $ 2,962 September 30, December 31, Assets United States $ 384,271 $ 71,481 United Kingdom 334,907 16,199 Other 12,690 — Total $ 731,868 $ 87,680

Backlog

Backlog	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Backlog	BACKLOG Schuff’s backlog was $409.7 million ( $278.7 million under contracts or purchase orders and $131.0 million under letters of intent) at September 30, 2014 . Schuff’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 $243.6 million , representing 59.4% of Schuff’s backlog at September 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	9 Months Ended
	Sep. 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 then-existing credit facilities. 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, 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 . 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 were released and the Company recorded a $0.7 million gain from the sale of PTI. A portion of the proceeds was used to pay down then-existing credit facilities. 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 September 30, 2014 . In October 2014, we received the escrow proceeds of $6.45 million . The Company evaluated the remaining carrying value of North America Telecom, i.e. PTI, in the third quarter of 2013 which resulted in such carrying value 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 nine months ended September 30, 2014 . 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. The held for sale assets and liabilities were removed from the specific line items on the condensed consolidated balance sheets as of December 31, 2013 . Summarized operating results of the discontinued operations are as follows (in thousands): Three Months Ended Nine Months Ended 2014 2013 2014 2013 Net revenue $ 971 $ 17,789 $ 7,439 $ 128,988 Operating expenses 1,045 15,620 7,387 115,947 Income from operations (74 ) 2,169 52 13,041 Interest expense (14 ) (2,848 ) (17 ) (11,357 ) Gain (loss) on early extinguishment or restructuring of debt — (21,178 ) — (21,178 ) Interest income and other income (expense) (9 ) (70 ) (60 ) (24 ) Foreign currency transaction loss — (37 ) — (376 ) Income (loss) before income tax (97 ) (21,964 ) (25 ) (19,894 ) Income tax (expense) (9 ) 474 (37 ) 176 Income from discontinued operations $ (106 ) $ (21,490 ) $ (62 ) $ (19,718 ) Summarized assets and liabilities of the remaining portion of North America Telecom, PTI, classified as held for sale as of December 31, 2013 are as follows (in thousands): North America Telecom (1) December 31, 2013 Accounts receivable $ 670 Prepaid expenses and other current assets 839 Long-lived assets and other non-current assets 4,820 Assets held for sale $ 6,329 Accounts payable $ 869 Accrued interconnection costs 420 Accrued expenses and other liabilities 3,534 Liabilities held for sale $ 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. Assets held for sale as of September 30, 2014 include $3.9 million of property and equipment of Schuff that is currently in process of being sold.

Basic and Diluted Income (Loss)

Basic and Diluted Income (Loss) Per Common Share	9 Months Ended
	Sep. 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 no dilutive common share equivalents during the three and nine months ended September 30, 2014 due to the results of operations being a loss from continuing operations, net of tax. For the three and nine months ended September 30, 2014 , the Company had no dilutive common share equivalents. The Company had dilutive common share equivalents during the three and nine months ended September 30, 2013 , due to the results of operations being income from continuing operations, net of tax. For the three and nine months ended September 30, 2013 , the following were dilutive and were included in the calculation of diluted loss per common share due to their dilutive effect: Three months ended September 30, 2013 • 0.2 million shares issuable upon exercise of stock options and RSUs under the Management Compensation Plan; and • 1.1 million shares issuable upon exercise of Warrants. Nine months ended September 30, 2013 • 0.2 million shares issuable upon exercise of stock options and RSUs under the Management Compensation Plan; and • 1.0 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 Nine Months Ended 2014 (As Restated) 2013 2014 (As Restated) 2013 Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (18,957 ) $ (865 ) $ (27,273 ) $ (3,536 ) Income (loss) from discontinued operations (106 ) (21,490 ) (62 ) (19,718 ) Gain (loss) from sale of discontinued operations 663 15,650 (121 ) 150,695 Net income (loss)—basic $ (18,400 ) $ (6,705 ) $ (27,456 ) $ 127,441 Net income (loss)—diluted $ (18,400 ) $ (6,705 ) $ (27,456 ) $ 127,441 Weighted average common shares outstanding—basic 23,372 14,077 18,348 13,987 Weighted average common shares outstanding—diluted 23,372 14,077 18,348 13,987 Basic income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.82 ) $ (0.06 ) $ (1.49 ) $ (0.25 ) Income (loss) from discontinued operations — (1.53 ) — (1.41 ) Gain (loss) from sale of discontinued operations 0.03 1.11 (0.01 ) 10.77 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.79 ) $ (0.48 ) $ (1.50 ) $ 9.11 Diluted income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.82 ) $ (0.06 ) $ (1.49 ) $ (0.25 ) Income (loss) from discontinued operations — (1.53 ) — (1.41 ) Gain (loss) from sale of discontinued operations 0.03 1.11 (0.01 ) 10.77 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.79 ) $ (0.48 ) $ (1.50 ) $ 9.11

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Final Results of Tender Offer for All Outstanding Shares of Schuff In October 2014, the final results of a tender offer for all outstanding shares of Schuff were announced and the Company accepted for purchase 733,634 shares, which had the effect of increasing the Company’s ownership interest to 89% . On October 29, 2014, we entered into an open-market transaction to increase our ownership of Schuff to 90.6% , and we intend to execute a short-form merger as soon as practicable. Such short-form merger will increase our ownership of Schuff shares to 100% . Reformed and Clarified Option Agreement with Philip Falcone On October 26, 2014, HC2 and Philip Falcone reformed and clarified the option (the “Option”) originally granted to Mr. Falcone in May 2014 to purchase 1,568,864 shares of HC2’s common stock (such Option, as reformed and clarified, the “Option Clarification”). See Note 14—“Equity” for additional information with respect to the Option. The Option Clarification clarified the operation of the anti-dilution provisions of the Option upon the issuance of rights, warrants, options, exchangeable securities or convertible securities entitling the holder thereof to subscribe for, purchase or otherwise acquire shares of HC2’s capital stock. Promptly following the execution of the Option Clarification, on October 28, 2014, HC2 issued to Mr. Falcone additional anti-dilution adjustment options exercisable for an aggregate of 1,782,082 shares of common stock as a result of (i) HC2’s issuance of (x) 1,500,000 shares of common stock in connection with the May 29, 2014 issuance of Series A Preferred Stock and (y) additional shares of common stock at various times upon the exercise of HC2 Warrants prior to their expiration on July 1, 2014, (ii) HC2’s issuance of Series A Preferred Stock on May 29, 2014, as well as the pay-in-kind (“PIK”) dividends with respect thereto on June 30, 2014 and September 30, 2014 and (iii) HC2’s issuance of Series A-1 Preferred Stock on September 22, 2014, as well as the PIK dividends with respect thereto on September 30, 2014 . Offering of Senior Notes On November 3, 2014, the Company announced that it proposed to offer $250 million aggregate principal amount of senior secured notes due 2019 to qualified institutional buyers pursuant to Rule 144A under the Securities Act, and to certain persons in offshore transactions in accordance with Regulation S under the Securities Act. Litigation On November 6, 2014, a putative stockholder class action complaint challenging the buyout by the Company of the minority interest in Schuff International, Inc. (“Schuff International”) was filed in the Court of Chancery of the State of Delaware, captioned Mark Jacobs v. Philip A. Falcone, Keith M. Hladek, Paul Voigt, Michael R. Hill, Rustin Roach, D. Ronald Yagoda, Phillip O. Elbert, HC2 Holdings, Inc., and Schuff International, Inc., Civil Action No. 10323 (the “Complaint”). The Complaint alleges, among other things, that in connection with the buyout the individual members of the Schuff International board of directors and the Company, as the controlling stockholder of Schuff International, breached their fiduciary duties to members of the plaintiff class. The Complaint seeks a rescission of the buyout or rescissory and compensatory damages, as well as attorney’s fees and other relief. The Company believes that the allegations and claims set forth in the Complaint are without merit and intends to defend them vigorously. See “Risk Factors — Legal proceedings could affect the timing and increase the price we pay in our acquisition of Schuff.

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 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 nine months ended September 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, which for the third quarter of 2014 ended on September 28, 2014.
Principles of Consolidation	Principles of Consolidation —The Condensed Consolidated Financial Statements include the accounts of the Company, 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. As of September 30, 2014 , the Company has a 97% interest in GMSL, a 70% interest in Schuff, a 51% interest in ANG and an 80% interest in Genovel. The results of GMSL, Schuff, ANG and Genovel are consolidated with the Company’s results (with respect to results of operations of GMSL, Schuff and ANG, from and after their respective acquisition dates) based on guidance from the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 810, “Consolidation” (“ASC 810”). The remaining interests not owned by the Company are presented as a non-controlling interest component of total equity. The Company determined that the results of operation for GMSL for the period September 22, 2014 – September 30, 2014 were immaterial and therefore did not include GMSL’s results of operations in the condensed consolidated statements of operations for the three and nine months ended September 30, 2014 .
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. The Company completed the initial closing of the sale of its North America Telecom business on July 31, 2013 and completed the divestiture of the remainder of its North America Telecom business on July 31, 2014 (see Note 18—“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 nine months ended September 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 nine months ended September 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 December 31, 2013 . See Note 18—“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 Schuff —Inventories, primarily steel components, are stated at the lower of cost or market under the first-in, first-out method. GMSL —Inventory is valued at the lower of cost or market value under the first-in first-out method. Provision for obsolescence is made where appropriate and is charged to cost of revenue in the condensed consolidated statements of operations. Short-term work in progress on contracts is stated at cost less foreseeable losses. These costs include only direct labor and expenses incurred to date and exclude any allocation of overhead. The policy for long-term work in progress contracts is disclosed within the Revenue and Cost Recognition accounting policy for GMSL.
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 Companyb 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 are 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. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. Cost includes finance costs incurred prior to the asset being available 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, up to 35 years for cable-ships and submersibles, 3 to 15 years for machinery and equipment, and 3 to 20 years for plant and motor vehicles. Plant includes equipment on the cable-ships that is portable and can be moved around the fleet. Plant also includes computer equipment. Leasehold improvements are amortized over the lives of the leases or estimated useful lives of the assets, whichever is shorter. Assets under construction are not depreciated until they are complete and available for use. 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 and GMSL, each became their own reporting unit in May 2014 and September 2014 , respectively, 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 subject to amortization consists of certain trade names, customer contracts and developed technology. 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) —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 18—“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 September 30, 2014 , Schuff had $30.30 million of unapproved change orders on open projects, for which it has recognized revenues on a percentage of completion 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 September 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. ICS —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.
Pensions	Pensions —GMSL operates various pension schemes comprising both defined benefit plans and defined contribution plans. GMSL also makes contributions on behalf of employees who are members of the Merchant Navy Officers Pension Fund (“MNOPF”). For the defined benefit plans and the MNOPF plan, the amounts charged to income (loss) from operations are the current service costs and the gains and losses on settlements and curtailments. These are included as part of staff costs. Past service costs are recognized immediately if the benefits have vested. If the benefits have not vested immediately, the costs are recognized over the period vesting occurs. The interest costs and expected return of assets are shown as a net amount and included in interest income and other income (expense). Actuarial gains and losses are recognized immediately in the statement of operations. Defined benefit plans are funded with the assets of the plan held separately from those of GMSL, in separate trustee administered funds. Pension plan assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method discounted at a rate of equivalent currency and term to the plan liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. For the defined contribution plans, the amount charged to income (loss) from operations in respect of pension costs is the contributions payable in the period. Differences between contributions payable in the period and contributions actually paid are shown as either accruals or prepayments in the condensed consolidated balance sheet.
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 period. 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 June 2014, an update was issued to the Development Stage Entities Topic No. 915, ASU 2014-10, “Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. The amendments in ASU 2014-10 eliminate an exception provided to development stage entities in Topic 810, Consolidation, for determining whether an entity is a variable interest entity on the basis of the amount of investment equity that is at risk. The amendments to eliminate that exception simplify U.S. GAAP by reducing avoidable complexity in existing accounting literature and improve the relevance of information provided to financial statement users by requiring the application of the same consolidation guidance by all reporting entities. The elimination of the exception may change the consolidation analysis, consolidation decision, and disclosure requirements for a reporting entity that has an interest in an entity in the development stage. For public business entities, the amendment eliminating the exception to the sufficiency-of-equity-at-risk criterion for development stage entities in paragraph 4 810-10-15-16 should be applied retrospectively for annual reporting periods beginning after December 15, 2015, and interim periods therein. For all other entities, the amendments to Topic 810 should be applied retrospectively for annual reporting periods beginning after December 15, 2016, and interim reporting periods beginning after December 15, 2017. The Company does not expect this accounting update to have a material effect on its Condensed Consolidated Financial Statements in future period, 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)	9 Months Ended
	Sep. 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 three and nine months ended September 30, 2014: HC2 HOLDINGS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 As Reported Adjustments As Restated As Reported Adjustments As Restated NET REVENUE $ 179,433 $ 3,856 $ 183,289 $ 319,373 $ 3,856 $ 323,229 OPERATING EXPENSES Cost of revenue 158,639 2,856 161,495 282,606 2,856 285,462 Selling, general and administrative 20,246 3,210 23,456 40,482 2,674 43,156 Depreciation and amortization 921 — 921 1,475 — 1,475 (Gain) loss on sale or disposal of assets (448 ) 445 (3 ) (81 ) — (81 ) Asset impairment expense — — — — — — Total operating expenses 179,358 6,511 185,869 324,482 5,530 330,012 INCOME (LOSS) FROM OPERATIONS 75 (2,655 ) (2,580 ) (5,109 ) (1,674 ) (6,783 ) INTEREST EXPENSE (2,103 ) — (2,103 ) (3,116 ) — (3,116 ) AMORTIZATION OF DEBT DISCOUNT (805 ) — (805 ) (1,381 ) — (1,381 ) LOSS ON EARLY EXTINGUISHMENT OR RESTRUCTURING OF DEBT (6,947 ) — (6,947 ) (6,947 ) — (6,947 ) GAIN FROM CONTINGENT VALUE RIGHTS VALUATION — — — — — — INTEREST INCOME AND OTHER EXPENSE, net (1,092 ) 1,121 29 524 — 524 FOREIGN CURRENCY TRANSACTION GAIN (LOSS) 170 — 170 573 — 573 INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME (LOSS) FROM EQUITY INVESTEES (10,702 ) (1,534 ) (12,236 ) (15,456 ) (1,674 ) (17,130 ) INCOME (LOSS) FROM EQUITY INVESTEES (288 ) (191 ) (479 ) (288 ) (191 ) (479 ) INCOME TAX (EXPENSE) BENEFIT (4,515 ) 208 (4,307 ) (6,470 ) — (6,470 ) INCOME (LOSS) FROM CONTINUING OPERATIONS (15,505 ) (1,517 ) (17,022 ) (22,214 ) (1,865 ) (24,079 ) INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax (106 ) — (106 ) (62 ) — (62 ) GAIN (LOSS) FROM SALE OF DISCONTINUED OPERATIONS, net of tax 663 — 663 (121 ) — (121 ) NET INCOME (LOSS) (14,948 ) (1,517 ) (16,465 ) (22,397 ) (1,865 ) (24,262 ) Less: Net (income) loss attributable to noncontrolling interest (931 ) — (931 ) (1,990 ) — (1,990 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (15,879 ) (1,517 ) (17,396 ) (24,387 ) (1,865 ) (26,252 ) Less: Preferred stock dividends and accretion 1,004 — 1,004 1,204 — 1,204 NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS $ (16,883 ) $ (1,517 ) $ (18,400 ) $ (25,591 ) $ (1,865 ) $ (27,456 ) BASIC INCOME (LOSS) PER COMMON SHARE: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.75 ) $ (0.07 ) $ (0.82 ) $ (1.38 ) $ (0.11 ) $ (1.49 ) Income (loss) from discontinued operations — — — — — — Gain (loss) from sale of discontinued operations 0.03 — 0.03 (0.01 ) — (0.01 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (0.72 ) $ (0.07 ) $ (0.79 ) $ (1.39 ) $ (0.11 ) $ (1.50 ) DILUTED INCOME (LOSS) PER COMMON SHARE: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.75 ) $ (0.07 ) $ (0.82 ) $ (1.38 ) $ (0.11 ) $ (1.49 ) Income (loss) from discontinued operations — — — — — — Gain (loss) from sale of discontinued operations 0.03 — 0.03 (0.01 ) — (0.01 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (0.72 ) $ (0.07 ) $ (0.79 ) $ (1.39 ) $ (0.11 ) $ (1.50 ) WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic 23,372 23,372 23,372 18,348 18,348 18,348 Diluted 23,372 23,372 23,372 18,348 18,348 18,348 AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF HC2 HOLDINGS, INC. Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (17,440 ) $ (1,517 ) $ (18,957 ) $ (25,408 ) $ (1,865 ) $ (27,273 ) Income (loss) from discontinued operations (106 ) — (106 ) (62 ) — (62 ) Gain (loss) from sale of discontinued operations 663 — 663 (121 ) — (121 ) NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (16,883 ) $ (1,517 ) $ (18,400 ) $ (25,591 ) $ (1,865 ) $ (27,456 ) HC2 HOLDINGS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in thousands) Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 As Reported Adjustments As Restated As Reported Adjustments As Restated NET INCOME (LOSS) $ (14,948 ) $ (1,517 ) $ (16,465 ) $ (22,397 ) $ (1,865 ) $ (24,262 ) OTHER COMPREHENSIVE INCOME (LOSS) Foreign currency translation adjustment (21 ) 888 867 (155 ) 888 733 Unrealized gain (loss) on available-for-sale securities (1,655 ) — (1,655 ) (1,655 ) — (1,655 ) Less: Other comprehensive (income) attributable to the noncontrolling interest $ (931 ) — (931 ) (1,990 ) — (1,990 ) COMPREHENSIVE INCOME ATTRIBUTABLE TO HC2 HOLDINGS, INC. $ (17,555 ) $ (629 ) $ (18,184 ) $ (26,197 ) $ (977 ) $ (27,174 ) HC2 HOLDING, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) As of September 30, 2014 As Reported Adjustments As Restated ASSETS CURRENT ASSETS: Cash and cash equivalents $ 111,739 $ — $ 111,739 Short-term investments 3,253 — 3,253 Accounts receivable (net of allowance for doubtful accounts receivable of $4,639 and $2,476 at September 30, 2014 and December 31, 2013, respectively) 170,516 54 170,570 Costs and recognized earnings in excess of billings on uncompleted contracts 26,604 — 26,604 Inventories 23,894 — 23,894 Prepaid expenses and other current assets 23,693 13,222 36,915 Assets held for sale 3,865 — 3,865 Total current assets 363,564 13,276 376,840 LONG-TERM INVESTMENTS 47,350 (5,450 ) 41,900 PROPERTY, PLANT AND EQUIPMENT—Net 239,562 (4,954 ) 234,608 GOODWILL 35,513 (3,636 ) 31,877 OTHER INTANGIBLE ASSETS—Net 21,161 2,761 23,922 OTHER ASSETS 22,721 — 22,721 TOTAL ASSETS $ 729,871 $ 1,997 $ 731,868 LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $ 55,811 — $ 55,811 Accrued interconnection costs 9,969 — 9,969 Accrued payroll and employee benefits 15,385 — 15,385 Accrued expenses and other current liabilities 49,394 8,506 57,900 Billings in excess of costs and recognized earnings on uncompleted contracts 58,403 4,700 63,103 Accrued income taxes 302 — 302 Accrued interest 578 — 578 Current portion of long-term debt 22,408 — 22,408 Liabilities held for sale — — — Total current liabilities 212,250 13,206 225,456 LONG-TERM DEBT 290,394 — 290,394 PENSION LIABILITY 46,172 187 46,359 DEFERRED TAX LIABILITY 12,363 (304 ) 12,059 OTHER LIABILITIES 1,726 (694 ) 1,032 Total liabilities 562,905 12,395 575,300 COMMITMENTS AND CONTINGENCIES (See Note 11) TEMPORARY EQUITY (See Note 14) Preferred stock, $0.001 par value—20,000,000 shares authorized; Series A—30,000 and 0 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively; Series A-1—11,000 and 0 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively 39,524 — 39,524 Redeemable non-controlling interest — 4,062 4,062 Total temporary equity 39,524 4,062 43,586 STOCKHOLDERS’ EQUITY: Common stock, $0.001 par value—80,000,000 shares authorized; 23,689,816 and 14,257,545 shares issued and 23,658,190 and 14,225,919 shares outstanding at September 30, 2014 and December 31, 2013, respectively 24 — 24 Additional paid-in capital 134,748 (3,276 ) 131,472 Retained earnings (accumulated deficit) (54,160 ) (1,865 ) (56,025 ) Treasury stock, at cost—31,626 shares at September 30, 2014 and December 31, 2013, respectively (378 ) — (378 ) Accumulated other comprehensive loss (15,862 ) 888 (14,974 ) Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest 64,372 (4,253 ) 60,119 Non-controlling interest 63,070 (10,207 ) 52,863 Total permanent equity 127,442 (14,460 ) 112,982 TOTAL LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY $ 729,871 $ 1,997 $ 731,868 HC2 HOLDINGS, INC. CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY (in thousands) As of September 30, 2014 As Reported Adjustments As Restated Common Stock $ 24 $ — $ 24 Additional Paid-In Capital 134,748 (3,276 ) 131,472 Treasury Stock (378 ) — (378 ) Earnings (Accumulated Deficit) (54,160 ) (1,865 ) (56,025 ) Accumulated Other Comprehensive Income (Loss) (15,862 ) 888 (14,974 ) Noncontrolling Interest 63,070 (10,207 ) 52,863 Total Stockholders' Equity $ 127,442 $ (14,460 ) $ 112,982 HC2 HOLDINGS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Nine Months Ended September 30, 2014 As Reported Adjustments As Restated CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (22,397 ) $ (1,865 ) $ (24,262 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Provision for doubtful accounts receivable (114 ) — (114 ) Share-based compensation expense 1,725 1,142 2,867 Depreciation and amortization 4,071 — 4,071 Amortization of deferred financing costs 288 — 288 (Gain) loss on sale or disposal of assets 635 — 635 (Gain) loss on sale of investments (437 ) — (437 ) Equity investment (income)/loss 288 191 479 Impairment of goodwill and long-lived assets — — — Amortization of debt discount 1,381 — 1,381 Loss on early extinguishment or restructuring of debt 6,947 — 6,947 Change in fair value of Contingent Value Rights — — — Deferred income taxes 1 — 1 Unrealized foreign currency transaction (gain) loss on intercompany and foreign debt 57 — 57 Other — 1,307 1,307 Changes in assets and liabilities, net of acquisitions: (Increase) decrease in accounts receivable 6,037 (3,856 ) 2,181 (Increase) decrease in costs and recognized earnings in excess of billings on uncompleted contracts 522 — 522 (Increase) decrease in inventories (1,984 ) — (1,984 ) (Increase) decrease in prepaid expenses and other current assets 25,539 (22,700 ) 2,839 (Increase) decrease in other assets 1,558 — 1,558 Increase (decrease) in accounts payable 1,751 225 1,976 Increase (decrease) in accrued interconnection costs (2,618 ) — (2,618 ) Increase (decrease) in accrued payroll and employee benefits 3,055 — 3,055 Increase (decrease) in accrued expenses, other current liabilities and other liabilities, net (5,156 ) 2,856 (2,300 ) Increase (decrease) in billings in excess of costs and recognized earnings on uncompleted contracts (7,695 ) — (7,695 ) Increase (decrease) in accrued income taxes (2,198 ) — (2,198 ) Increase (decrease) in accrued interest 502 — 502 Net cash provided by (used in) operating activities 11,758 (22,700 ) (10,942 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property, plant and equipment (4,064 ) — (4,064 ) Sale of property and equipment and other assets 3,696 — 3,696 Purchase of investments (18,640 ) — (18,640 ) Investment in debt security (250 ) — (250 ) Sale of investments 1,135 — 1,135 Cash from disposition of business, net of cash disposed — 25,700 25,700 Cash paid for business acquisitions, net of cash acquired (163,510 ) (3,000 ) (166,510 ) Purchase of noncontrolling interest (6,978 ) — (6,978 ) Contribution by noncontrolling interest 15,500 — 15,500 Decrease in restricted cash — — — Net cash (used in) provided by investing activities (173,111 ) 22,700 (150,411 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from long-term obligations 492,068 — 492,068 Principal payments on long-term obligations (294,237 ) — (294,237 ) Payment of fees on restructuring of debt (837 ) — (837 ) Proceeds from sale of common stock, net 6,000 — 6,000 Proceeds from sale of preferred stock, net 39,765 — 39,765 Proceeds from the exercise of warrants and stock options 24,344 — 24,344 Payment of dividend equivalents — — — Payment of dividends (750 ) — (750 ) Taxes paid in lieu of shares issued for share-based compensation (41 ) — (41 ) Net cash provided by (used) in financing activities 266,312 — 266,312 EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (2,217 ) — (2,217 ) NET CHANGE IN CASH AND CASH EQUIVALENTS 102,742 — 102,742 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 8,997 — 8,997 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 111,739 $ — $ 111,739 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest $ 2,388 $ — $ 2,388 Cash paid for taxes $ 7,761 $ — $ 7,761 Non-cash investing and financing activities: Capital lease additions $ — $ — $ —

Accounts Receivable and Contr30

Accounts Receivable and Contracts in Progress (Tables)	9 Months Ended
	Sep. 30, 2014
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable consist of the following (in thousands): September 30, December 31, Contract receivables: Contracts in progress $ 91,908 $ — Unbilled retentions 33,693 — Trade receivables 48,228 21,456 Other receivables 1,380 — Allowance for doubtful accounts (4,639 ) (2,476 ) $ 170,570 $ 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: September 30, December 31, Costs incurred on contracts in progress $ 479,009 $ — Estimated earnings 51,923 — 530,932 — Less progress billings 562,731 — $ (31,799 ) $ — 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 26,604 — Billings in excess of costs and recognized earnings on uncompleted contracts (58,403 ) — $ (31,799 ) $ —

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2014
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories consist of the following (in thousands): September 30, December 31, Raw materials $ 22,542 $ — Work in process 1,147 — Finished goods 205 — $ 23,894 $ —

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2014
Schedule of Unaudited Consolidated Pro Forma Results of Operations	The following schedule presents unaudited consolidated pro forma results of operations data as if the acquisitions had occurred on January 1, 2013. This information does not purport to be indicative of the actual results that would have occurred if the acquisitions 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 2014 (As Restated) 2013 (As Restated) Net revenue $ 223,595 $ 212,021 Net income (loss) from continuing operations $ (15,553 ) $ 2,875 Net income (loss) from discontinued operations $ (106 ) $ (21,669 ) Gain (loss) from sale of discontinued operations $ 663 $ 15,650 Net income (loss) attributable to HC2 Holdings, Inc. $ (14,996 ) $ (2,912 ) Per share amounts: Income (loss) from continuing operations $ (0.67 ) $ 0.20 Income (loss) from discontinued operations $ — $ (1.54 ) Gain (loss) from sale of discontinued operations $ 0.03 $ 1.11 Net income (loss) attributable to HC2 $ (0.64 ) $ (0.21 ) Nine Months Ended 2014 (As Restated) 2013 (As Restated) Net revenue $ 630,230 $ 590,176 Net income (loss) from continuing operations $ 5,346 $ 8,239 Net income (loss) from discontinued operations $ (94 ) $ (19,850 ) Gain (loss) from sale of discontinued operations $ (121 ) $ 150,695 Net income (loss) attributable to HC2 Holdings, Inc. $ 5,131 $ 139,780 Per share amounts: Income (loss) from continuing operations $ 0.30 $ 0.59 Income (loss) from discontinued operations $ (0.01 ) $ (1.42 ) Gain (loss) from sale of discontinued operations $ (0.01 ) $ 10.77 Net income (loss) attributable to HC2 $ 0.28 $ 9.99
Schuff [Member]
Schedule of Preliminary Purchase Price Allocation	The preliminary purchase price allocation 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 Minority 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
ANG [Member]
Schedule of Preliminary Purchase Price Allocation	The purchase price allocation (as restated) is as follows (in thousands): Cash and cash equivalents $ 15,704 Accounts receivable 306 Prepaid expenses and other current assets 31 Inventories 27 Property and equipment, net 1,921 Customer contracts 2,700 Trade names 6,300 Other assets 2 Goodwill 1,374 Total assets acquired 28,365 Accounts payable 49 Accrued payroll and employee benefits 5 Accrued expenses and other current liabilities 26 Billings in excess of costs and recognized earnings on uncompleted contracts 114 Current portion of long-term debt 34 Long-term debt 870 Deferred tax liability 3,530 Total liabilities assumed 4,628 Enterprise value 23,737 Less fair value of non-controlling interest 8,237 Purchase price attributable to controlling interest $ 15,500
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): Useful Lives Value August 1, 2014 Customer contracts 4 years $ 2,700 Trade names 15 years 6,300 Total intangible assets $ 9,000
Global Marine Systems Limited [Member]
Schedule of Preliminary Purchase Price Allocation	The purchase price allocation as restated is as follows (in thousands): Cash and cash equivalents $ 62,555 Accounts receivable 22,381 Prepaid expenses and other current assets 23,108 Inventories 7,395 Restricted cash 4,682 Property and equipment, net 152,022 Goodwill 1,366 Customer contracts 8,121 Trade name 1,137 Developed technology 1,299 Investments 26,767 Other assets 7,482 Total assets acquired 318,315 Accounts payable 8,740 Accrued expenses and other current liabilities 44,136 Accrued income taxes 1,251 Current portion of long-term debt 8,140 Long-term debt 78,356 Pension liability 46,110 Deferred tax liability 709 Other liabilities 485 Noncontrolling interest — Total liabilities assumed 187,927 Net enterprise value 130,388 Less fair value of noncontrolling interest 3,803 Purchase price attributable to controlling interest $ 126,585
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): Useful Lives Value September 22, 2014 (As Restated) Customer contracts 15 years $ 8,121 Trade name 3 years 1,137 Developed technology 4 years 1,299 Total intangible assets $ 10,557

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant and equipment consist of the following (in thousands): September 30, December 31, Land $ 19,646 $ — Buildings 22,183 — Building and leasehold improvements 7,804 386 Plants 2,451 — Cable-ships and submersibles 140,408 — Network equipment 5,273 5,303 Machinery and equipment 29,821 — Transportation equipment 1,894 — Furniture and fixtures 2,074 380 EDP equipment 1,978 — Construction in progress 4,520 — 238,052 6,069 Less accumulated depreciation and amortization 3,444 3,107 $ 234,608 $ 2,962

Accounts Payable (Tables)

Accounts Payable (Tables)	9 Months Ended
	Sep. 30, 2014
Payables and Accruals [Abstract]
Summary of Accounts Payable	Accounts payable consists of the following (in thousands): September 30, December 31, Accounts payable $ 52,064 $ 6,964 Retentions payable 3,747 — $ 55,811 $ 6,964

Long-Term Obligations (Tables)

Long-Term Obligations (Tables)	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following (in thousands): September 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 2016 $ 207,025 $ — Note payable collaterized by GMSL’s assets, with interest payable monthly at LIBOR plus 3.5% and principal payable monthly, maturing in 2019 17,913 — 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 13,610 — Note payable collaterized by Schuff’s real estate, with interest payable monthly at LIBOR plus 4% and principal payable monthly, maturing in 2019 4,792 — Note payable collaterized by ANG’s assets, with interest payable monthly at 5.5% and principal payable monthly, maturing in 2018 846 — Obligations under capital leases 68,584 — Other 32 — 312,802 — Less current portion 22,408 — $ 290,394 $ —
Schedule of Aggregate Debt Maturities	Aggregate debt maturities are as follows (in thousands): 2014 $ 17,599 2015 14,296 2016 216,275 2017 12,796 2018 19,141 Thereafter 32,695 $ 312,802

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 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)	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Purchase Obligations and Non-Cancellable Operating Leases	Future minimum lease payments under non-cancellable operating leases as of September 30, 2014 are as follows (in thousands): Year Ending December 31, Operating Leases 2014 (as of September 30, 2014) $ 1,235 2015 4,448 2016 3,817 2017 3,048 2018 2,264 Thereafter 12,393 Total long-term obligations $ 27,205

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 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: Nine Months Ended September 30, 2014 2013 Expected option life 5.83 years 4 - 5.75 years Risk-free interest rate 1.65% - 2.73% 1.17 - 1.73% Expected volatility 36.74% - 37.80% 35.55 - 37.23% Dividend yield —% —%
Summary of Company's Restricted Stock Activity	A summary of HC2’s restricted stock activity during the nine months ended September 30, 2014 is as follows: Shares Weighted Unvested—December 31, 2013 22,500 $ 13.59 Granted 345,761 $ 4.05 Vested (133,833 ) $ 5.52 Forfeitures — $ — Unvested—September 30, 2014 234,428 $ 4.14
Summary of Company's Stock Option Activity	A summary of HC2’s stock option activity during the nine months ended September 30, 2014 is as follows: Shares Weighted Average Exercise Price Outstanding—December 31, 2013 589,859 $ 3.17 Granted 3,427,767 $ 4.29 Exercised (230,300 ) $ 2.43 Forfeitures (229,901 ) $ 4.47 Outstanding—September 30, 2014 3,557,425 $ 4.26 Eligible for exercise 1,261,594 $ 4.20
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—September 30, 2014 $ 1,126,901 9.8 Options exercisable—September 30, 2014 $ 461,482 9.6

Operating Segment and Related39

Operating Segment and Related Information (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, September 30, September 30, Net Revenue by Geographic Region United States $ 161,402 $ 31,863 $ 266,390 $ 79,126 United Kingdom 19,534 29,214 53,216 99,361 Other 2,353 — 3,623 — Total $ 183,289 $ 61,077 $ 323,229 $ 178,487 Net Revenue by Segment Telecommunications $ 41,267 $ 61,077 $ 126,731 $ 178,487 Manufacturing 137,706 — 192,182 — Utilities 460 — 460 — Marine Services 3,856 — 3,856 — Total $ 183,289 $ 61,077 $ 323,229 $ 178,487 Income (Loss) from Operations Telecommunications $ (1,344 ) $ (4,113 ) $ (1,241 ) $ (21,106 ) Life Sciences (495 ) — (1,430 ) — Manufacturing 9,071 — 14,843 — Utilities (758 ) — (758 ) — Marine Services (532 ) — (532 ) — Corporate (8,522 ) — (17,665 ) — Total $ (2,580 ) $ (4,113 ) $ (6,783 ) $ (21,106 ) Capital Expenditures Telecommunications $ 38 $ 2,079 $ 294 $ 12,034 Manufacturing 3,321 — 3,707 — Utilities 41 — 41 — Corporate — — 22 — Total $ 3,400 $ 2,079 $ 4,064 $ 12,034
Segment Reporting for Property and Equipment - Net and Assets	September 30, December 31, Property, Plant and Equipment—Net United States $ 76,673 $ 2,303 United Kingdom 152,403 659 Other 5,532 — Total $ 234,608 $ 2,962 September 30, December 31, Assets United States $ 384,271 $ 71,481 United Kingdom 334,907 16,199 Other 12,690 — Total $ 731,868 $ 87,680

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]
Summarized Operating Results of Discontinued Operations and Assets and Liabilities Classified as Held for Sale	Summarized operating results of the discontinued operations are as follows (in thousands): Three Months Ended Nine Months Ended 2014 2013 2014 2013 Net revenue $ 971 $ 17,789 $ 7,439 $ 128,988 Operating expenses 1,045 15,620 7,387 115,947 Income from operations (74 ) 2,169 52 13,041 Interest expense (14 ) (2,848 ) (17 ) (11,357 ) Gain (loss) on early extinguishment or restructuring of debt — (21,178 ) — (21,178 ) Interest income and other income (expense) (9 ) (70 ) (60 ) (24 ) Foreign currency transaction loss — (37 ) — (376 ) Income (loss) before income tax (97 ) (21,964 ) (25 ) (19,894 ) Income tax (expense) (9 ) 474 (37 ) 176 Income from discontinued operations $ (106 ) $ (21,490 ) $ (62 ) $ (19,718 ) Summarized assets and liabilities of the remaining portion of North America Telecom, PTI, classified as held for sale as of December 31, 2013 are as follows (in thousands): North America Telecom (1) December 31, 2013 Accounts receivable $ 670 Prepaid expenses and other current assets 839 Long-lived assets and other non-current assets 4,820 Assets held for sale $ 6,329 Accounts payable $ 869 Accrued interconnection costs 420 Accrued expenses and other liabilities 3,534 Liabilities held for sale $ 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 (Los41

Basic and Diluted Income (Loss) Per Common Share (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended 2014 (As Restated) 2013 2014 (As Restated) 2013 Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (18,957 ) $ (865 ) $ (27,273 ) $ (3,536 ) Income (loss) from discontinued operations (106 ) (21,490 ) (62 ) (19,718 ) Gain (loss) from sale of discontinued operations 663 15,650 (121 ) 150,695 Net income (loss)—basic $ (18,400 ) $ (6,705 ) $ (27,456 ) $ 127,441 Net income (loss)—diluted $ (18,400 ) $ (6,705 ) $ (27,456 ) $ 127,441 Weighted average common shares outstanding—basic 23,372 14,077 18,348 13,987 Weighted average common shares outstanding—diluted 23,372 14,077 18,348 13,987 Basic income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.82 ) $ (0.06 ) $ (1.49 ) $ (0.25 ) Income (loss) from discontinued operations — (1.53 ) — (1.41 ) Gain (loss) from sale of discontinued operations 0.03 1.11 (0.01 ) 10.77 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.79 ) $ (0.48 ) $ (1.50 ) $ 9.11 Diluted income (loss) per common share: Income (loss) from continuing operations attributable to HC2 Holdings, Inc. $ (0.82 ) $ (0.06 ) $ (1.49 ) $ (0.25 ) Income (loss) from discontinued operations — (1.53 ) — (1.41 ) Gain (loss) from sale of discontinued operations 0.03 1.11 (0.01 ) 10.77 Net income (loss) attributable to HC2 Holdings, Inc. $ (0.79 ) $ (0.48 ) $ (1.50 ) $ 9.11

Organization and Business - Add

Organization and Business - Additional Information (Detail) $ in Thousands	Sep. 22, 2014USD ($)	Sep. 08, 2014USD ($)	Aug. 01, 2014USD ($)shares	May. 29, 2014USD ($)shares	Oct. 31, 2014shares	Sep. 30, 2014USD ($)segment	Sep. 30, 2013USD ($)	Oct. 29, 2014	Jun. 30, 2014
Business And Organization [Line Items]
Date of acquisition						May 29, 2014
Proceeds from sale of preferred stock, net						$ 39,765	$ 0
Proceeds from sale of common stock, net				$ 6,000		$ 6,000	$ 1,145
Debt instrument term	12 months			18 months		4 years 6 months
Proceeds from issuance of senior secured credit facility				$ 80,000
Number of reportable operating segments | segment						5
Schuff [Member]
Business And Organization [Line Items]
Date of acquisition						May 29, 2014
Number of shares acquired | shares				198,411
Additional number of shares acquired | shares				198,411
Percentage of ownership interest acquired				65.00%					70.00%
Aggregate consideration for shares acquired				$ 85,000
Minority interest percentage by non controlling interest				35.00%
ANG [Member]
Business And Organization [Line Items]
Date of acquisition						Aug. 1, 2014
Percentage of ownership interest acquired			51.00%
Minority interest percentage by non controlling interest			49.00%
Global Marine Systems Limited [Member]
Business And Organization [Line Items]
Date of acquisition						Sep. 22, 2014
Percentage of ownership interest acquired	97.00%
Proceeds from issuance of senior secured credit facility	$ 214,000
Ownership percentage by parent						97.00%
Minority interest percentage by non controlling interest	3.00%
Enterprise Value	$ 260,000
Global Marine Systems Limited [Member] | Delayed Draw Term Loan [Member]
Business And Organization [Line Items]
Proceeds from issuance of senior secured credit facility	36,000
Novatel Wireless, Inc. [Member]
Business And Organization [Line Items]
Proceeds from issuance of senior secured credit facility		$ 17,000
Global Cable Technology Limited [Member]
Business And Organization [Line Items]
Percentage of ownership interest acquired						65.00%
Ownership percentage by parent						35.00%
Schuff Hopsa Engineering, Inc. [Member]
Business And Organization [Line Items]
Ownership percentage by parent				49.00%
Schuff. Empresas Hopsa, S.A. [Member]
Business And Organization [Line Items]
Minority interest percentage by non controlling interest				51.00%
Subsequent Event [Member] | Schuff [Member]
Business And Organization [Line Items]
Number of shares acquired | shares					733,634
Percentage of ownership interest acquired					89.00%			90.60%
Subsequent Event [Member] | Short-form Merger [Member] | Schuff [Member]
Business And Organization [Line Items]
Percentage of ownership interest acquired								100.00%
Series A Convertible Preferred Stock [Member]
Business And Organization [Line Items]
Proceeds from sale of preferred stock, net				$ 30,000
Series A Convertible Preferred Stock [Member] | ANG [Member]
Business And Organization [Line Items]
Number of shares acquired | shares			15,500
Enterprise Value			$ 15,500
Series A-1 Convertible Preferred Stock [Member]
Business And Organization [Line Items]
Proceeds from sale of preferred stock, net	$ 11,000
Common Stock [Member]
Business And Organization [Line Items]
Number of shares acquired | shares				2,500,000
Common Stock [Member] | Schuff [Member]
Business And Organization [Line Items]
Number of shares acquired | shares				2,500,000

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		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET REVENUE	$ 183,289	$ 61,077	$ 323,229	$ 178,487
Operating Expenses [Abstract]
Cost of revenue	161,495	58,752	285,462	169,704
Selling, general and administrative	23,456	6,293	43,156	29,749
Depreciation and amortization	921	1	1,475	2
(Gain) loss on sale or disposal of assets	(3)	(2)	(81)	(8)
Asset impairment expense	0	146	0	146
Total operating expenses	185,869	65,190	330,012	199,593
INCOME (LOSS) FROM OPERATIONS	(2,580)	(4,113)	(6,783)	(21,106)
INTEREST EXPENSE	(2,103)	(3)	(3,116)	(8)
AMORTIZATION OF DEBT DISCOUNT	(805)	0	(1,381)	0
Gain (loss) on early extinguishment or restructuring of debt	(6,947)	0	(6,947)	0
GAIN FROM CONTINGENT VALUE RIGHTS VALUATION	0	0	0	14,904
INTEREST INCOME AND OTHER EXPENSE, net	29	(76)	524	(184)
FOREIGN CURRENCY TRANSACTION GAIN (LOSS)	170	19	573	(232)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME (LOSS) FROM EQUITY INVESTEES	(12,236)	(4,173)	(17,130)	(6,626)
INCOME (LOSS) FROM EQUITY INVESTEES	(479)	0	(479)	0
INCOME TAX (EXPENSE) BENEFIT	(4,307)	3,308	(6,470)	3,090
INCOME (LOSS) FROM CONTINUING OPERATIONS	(17,022)	(865)	(24,079)	(3,536)
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax	(106)	(21,490)	(62)	(19,718)
GAIN (LOSS) FROM SALE OF DISCONTINUED OPERATIONS, net of tax	663	15,650	(121)	150,695
NET INCOME (LOSS)	(16,465)	(6,705)	(24,262)	127,441
Less: Net (income) loss attributable to noncontrolling interest	(931)	0	(1,990)	0
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC.	(17,396)	(6,705)	(26,252)	127,441
Less: Preferred stock dividends and accretion	1,004	0	1,204	0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	$ (18,400)	$ (6,705)	$ (27,456)	$ 127,441
BASIC INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	$ (0.82)	$ (0.06)	$ (1.49)	$ (0.25)
Income (loss) from discontinued operations (in USD per share)	0	(1.53)	0	(1.41)
Gain (loss) from sale of discontinued operations (in USD per share)	0.03	1.11	(0.01)	10.77
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	(0.79)	(0.48)	(1.50)	9.11
DILUTED INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	(0.82)	(0.06)	(1.49)	(0.25)
Income (loss) from discontinued operations (in USD per share)	0	(1.53)	0	(1.41)
Gain (loss) from sale of discontinued operations (in USD per share)	0.03	1.11	(0.01)	10.77
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	$ (0.79)	$ (0.48)	$ (1.50)	$ 9.11
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	23,372	14,077	18,348	13,987
Diluted (in shares)	23,372	14,077	18,348	13,987
AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF HC2 HOLDINGS, INC.
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.	$ (18,957)	$ (865)	$ (27,273)	$ (3,536)
Income (loss) from discontinued operations	(106)	(21,490)	(62)	(19,718)
Gain (loss) from sale of discontinued operations	663	15,650	(121)	150,695
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	(18,400)	$ (6,705)	(27,456)	$ 127,441
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET REVENUE	179,433		319,373
Operating Expenses [Abstract]
Cost of revenue	158,639		282,606
Selling, general and administrative	20,246		40,482
Depreciation and amortization	921		1,475
(Gain) loss on sale or disposal of assets	(448)		(81)
Asset impairment expense	0		0
Total operating expenses	179,358		324,482
INCOME (LOSS) FROM OPERATIONS	75		(5,109)
INTEREST EXPENSE	(2,103)		(3,116)
AMORTIZATION OF DEBT DISCOUNT	(805)		(1,381)
Gain (loss) on early extinguishment or restructuring of debt	(6,947)		(6,947)
GAIN FROM CONTINGENT VALUE RIGHTS VALUATION	0		0
INTEREST INCOME AND OTHER EXPENSE, net	(1,092)		524
FOREIGN CURRENCY TRANSACTION GAIN (LOSS)	170		573
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME (LOSS) FROM EQUITY INVESTEES	(10,702)		(15,456)
INCOME (LOSS) FROM EQUITY INVESTEES	(288)		(288)
INCOME TAX (EXPENSE) BENEFIT	(4,515)		(6,470)
INCOME (LOSS) FROM CONTINUING OPERATIONS	(15,505)		(22,214)
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax	(106)		(62)
GAIN (LOSS) FROM SALE OF DISCONTINUED OPERATIONS, net of tax	663		(121)
NET INCOME (LOSS)	(14,948)		(22,397)
Less: Net (income) loss attributable to noncontrolling interest	(931)		(1,990)
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC.	(15,879)		(24,387)
Less: Preferred stock dividends and accretion	1,004		1,204
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	$ (16,883)		$ (25,591)
BASIC INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	$ (0.75)		$ (1.38)
Income (loss) from discontinued operations (in USD per share)	0		0
Gain (loss) from sale of discontinued operations (in USD per share)	0.03		(0.01)
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	(0.72)		(1.39)
DILUTED INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	(0.75)		(1.38)
Income (loss) from discontinued operations (in USD per share)	0		0
Gain (loss) from sale of discontinued operations (in USD per share)	0.03		(0.01)
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	$ (0.72)		$ (1.39)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	23,372		18,348
Diluted (in shares)	23,372		18,348
AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF HC2 HOLDINGS, INC.
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.	$ (17,440)		$ (25,408)
Income (loss) from discontinued operations	(106)		(62)
Gain (loss) from sale of discontinued operations	663		(121)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	(16,883)		(25,591)
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET REVENUE	3,856		3,856
Operating Expenses [Abstract]
Cost of revenue	2,856		2,856
Selling, general and administrative	3,210		2,674
Depreciation and amortization	0		0
(Gain) loss on sale or disposal of assets	445		0
Asset impairment expense	0		0
Total operating expenses	6,511		5,530
INCOME (LOSS) FROM OPERATIONS	(2,655)		(1,674)
INTEREST EXPENSE	0		0
AMORTIZATION OF DEBT DISCOUNT	0		0
Gain (loss) on early extinguishment or restructuring of debt	0		0
GAIN FROM CONTINGENT VALUE RIGHTS VALUATION	0		0
INTEREST INCOME AND OTHER EXPENSE, net	1,121		0
FOREIGN CURRENCY TRANSACTION GAIN (LOSS)	0		0
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME (LOSS) FROM EQUITY INVESTEES	(1,534)		(1,674)
INCOME (LOSS) FROM EQUITY INVESTEES	(191)		(191)
INCOME TAX (EXPENSE) BENEFIT	208		0
INCOME (LOSS) FROM CONTINUING OPERATIONS	(1,517)		(1,865)
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)	(1,517)		(1,865)
Less: Net (income) loss attributable to noncontrolling interest	0		0
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC.	(1,517)		(1,865)
Less: Preferred stock dividends and accretion	0		0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK AND PARTICIPATING PREFERRED STOCKHOLDERS	$ (1,517)		$ (1,865)
BASIC INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	$ (0.07)		$ (0.11)
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)	(0.07)		(0.11)
DILUTED INCOME (LOSS) PER COMMON SHARE:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	(0.07)		(0.11)
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)	$ (0.07)		$ (0.11)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	23,372		18,348
Diluted (in shares)	23,372		18,348
AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF HC2 HOLDINGS, INC.
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.	$ (1,517)		$ (1,865)
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	$ (1,517)		$ (1,865)

Organization and Business - R44

Organization and Business - Reconciliation of Previously Reported to Restated Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET INCOME (LOSS)	$ (16,465)	$ (6,705)	$ (24,262)	$ 127,441
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	867	(1,819)	733	(7,379)
Unrealized gain (loss) on available-for-sale securities	(1,655)	0	(1,655)	0
Less: Other comprehensive (income) attributable to the noncontrolling interest	(931)	0	(1,990)	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO HC2 HOLDINGS, INC.	(18,184)	$ (8,524)	(27,174)	$ 120,062
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET INCOME (LOSS)	(14,948)		(22,397)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	(21)		(155)
Unrealized gain (loss) on available-for-sale securities	(1,655)		(1,655)
Less: Other comprehensive (income) attributable to the noncontrolling interest	(931)		(1,990)
COMPREHENSIVE INCOME ATTRIBUTABLE TO HC2 HOLDINGS, INC.	(17,555)		(26,197)
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET INCOME (LOSS)	(1,517)		(1,865)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	888		888
Unrealized gain (loss) on available-for-sale securities	0		0
Less: Other comprehensive (income) attributable to the noncontrolling interest	0		0
COMPREHENSIVE INCOME ATTRIBUTABLE TO HC2 HOLDINGS, INC.	$ (629)		$ (977)

Organization and Business Org45

Organization and Business Organization and Business - Reconciliation of Previously Reported to Restated Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
CURRENT ASSETS:
Cash and cash equivalents	$ 111,739	$ 8,997	$ 15,538	$ 23,197
Short-term investments	3,253	0
Accounts receivable (net of allowance for doubtful accounts receivable of $4,639 and $2,476 at September 30, 2014 and December 31, 2013, respectively)	170,570	18,980
Costs and recognized earnings in excess of billings on uncompleted contracts	26,604	0
Inventories	23,894	0
Prepaid expenses and other current assets	36,915	40,594
Assets held for sale	3,865	6,329
Total current assets	376,840	74,900
LONG-TERM INVESTMENTS	41,900	0
Property, Plant and Equipment—Net	234,608	2,962
GOODWILL	31,877	3,378
OTHER INTANGIBLE ASSETS—Net	23,922	0
OTHER ASSETS	22,721	6,440
TOTAL ASSETS	731,868	87,680
CURRENT LIABILITIES:
Accounts payable	55,811	6,964
Accrued interconnection costs	9,969	12,456
Accrued payroll and employee benefits	15,385	1,854
Accrued expenses and other current liabilities	57,900	5,550
Billings in excess of costs and recognized earnings on uncompleted contracts	63,103	0
Accrued income taxes	302	53
Accrued interest	578	0
Current portion of long-term debt	22,408	0
Accrued expenses and other liabilities	0	4,823
Total current liabilities	225,456	31,700
LONG-TERM DEBT	290,394	0
PENSION LIABILITY	46,359	0
DEFERRED TAX LIABILITY	12,059	0
OTHER LIABILITIES	1,032	1,571
Total liabilities	$ 575,300	$ 33,271
COMMITMENTS AND CONTINGENCIES
TEMPORARY EQUITY
Preferred stock, $0.001 par value—20,000,000 shares authorized; Series A—30,000 and 0 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively; Series A-1—11,000 and 0 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively	$ 39,524	$ 0
Redeemable non-controlling interest	4,062	0
Total temporary equity	43,586	0
STOCKHOLDERS’ EQUITY:
Common stock, $0.001 par value—80,000,000 shares authorized; 23,689,816 and 14,257,545 shares issued and 23,658,190 and 14,225,919 shares outstanding at September 30, 2014 and December 31, 2013, respectively	24	14
Additional paid-in capital	131,472	98,598
Retained earnings (accumulated deficit)	(56,025)	(29,773)
Treasury stock, at cost—31,626 shares at September 30, 2014 and December 31, 2013, respectively	(378)	(378)
Accumulated other comprehensive loss	(14,974)	(14,052)
Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest	60,119	54,409
Non-controlling interest	52,863	0
Total permanent equity	112,982	54,409
TOTAL LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY	731,868	87,680
As Reported
CURRENT ASSETS:
Cash and cash equivalents	111,739	8,997
Short-term investments	3,253
Accounts receivable (net of allowance for doubtful accounts receivable of $4,639 and $2,476 at September 30, 2014 and December 31, 2013, respectively)	170,516
Costs and recognized earnings in excess of billings on uncompleted contracts	26,604
Inventories	23,894
Prepaid expenses and other current assets	23,693
Assets held for sale	3,865
Total current assets	363,564
LONG-TERM INVESTMENTS	47,350
Property, Plant and Equipment—Net	239,562
GOODWILL	35,513
OTHER INTANGIBLE ASSETS—Net	21,161
OTHER ASSETS	22,721
TOTAL ASSETS	729,871
CURRENT LIABILITIES:
Accounts payable	55,811
Accrued interconnection costs	9,969
Accrued payroll and employee benefits	15,385
Accrued expenses and other current liabilities	49,394
Billings in excess of costs and recognized earnings on uncompleted contracts	58,403
Accrued income taxes	302
Accrued interest	578
Current portion of long-term debt	22,408
Accrued expenses and other liabilities	0
Total current liabilities	212,250
LONG-TERM DEBT	290,394
PENSION LIABILITY	46,172
DEFERRED TAX LIABILITY	12,363
OTHER LIABILITIES	1,726
Total liabilities	$ 562,905
COMMITMENTS AND CONTINGENCIES
TEMPORARY EQUITY
Preferred stock, $0.001 par value—20,000,000 shares authorized; Series A—30,000 and 0 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively; Series A-1—11,000 and 0 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively	$ 39,524
Redeemable non-controlling interest	0
Total temporary equity	39,524
STOCKHOLDERS’ EQUITY:
Common stock, $0.001 par value—80,000,000 shares authorized; 23,689,816 and 14,257,545 shares issued and 23,658,190 and 14,225,919 shares outstanding at September 30, 2014 and December 31, 2013, respectively	24
Additional paid-in capital	134,748
Retained earnings (accumulated deficit)	(54,160)
Treasury stock, at cost—31,626 shares at September 30, 2014 and December 31, 2013, respectively	(378)
Accumulated other comprehensive loss	(15,862)
Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest	64,372
Non-controlling interest	63,070
Total permanent equity	127,442
TOTAL LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY	729,871
Adjustments
CURRENT ASSETS:
Cash and cash equivalents	0	$ 0
Short-term investments	0
Accounts receivable (net of allowance for doubtful accounts receivable of $4,639 and $2,476 at September 30, 2014 and December 31, 2013, respectively)	54
Costs and recognized earnings in excess of billings on uncompleted contracts	0
Inventories	0
Prepaid expenses and other current assets	13,222
Assets held for sale	0
Total current assets	13,276
LONG-TERM INVESTMENTS	(5,450)
Property, Plant and Equipment—Net	(4,954)
GOODWILL	(3,636)
OTHER INTANGIBLE ASSETS—Net	2,761
OTHER ASSETS	0
TOTAL ASSETS	1,997
CURRENT LIABILITIES:
Accounts payable	0
Accrued interconnection costs	0
Accrued payroll and employee benefits	0
Accrued expenses and other current liabilities	8,506
Billings in excess of costs and recognized earnings on uncompleted contracts	4,700
Accrued income taxes	0
Accrued interest	0
Current portion of long-term debt	0
Accrued expenses and other liabilities	0
Total current liabilities	13,206
LONG-TERM DEBT	0
PENSION LIABILITY	187
DEFERRED TAX LIABILITY	(304)
OTHER LIABILITIES	(694)
Total liabilities	$ 12,395
COMMITMENTS AND CONTINGENCIES
TEMPORARY EQUITY
Preferred stock, $0.001 par value—20,000,000 shares authorized; Series A—30,000 and 0 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively; Series A-1—11,000 and 0 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively	$ 0
Redeemable non-controlling interest	4,062
Total temporary equity	4,062
STOCKHOLDERS’ EQUITY:
Common stock, $0.001 par value—80,000,000 shares authorized; 23,689,816 and 14,257,545 shares issued and 23,658,190 and 14,225,919 shares outstanding at September 30, 2014 and December 31, 2013, respectively	0
Additional paid-in capital	(3,276)
Retained earnings (accumulated deficit)	(1,865)
Treasury stock, at cost—31,626 shares at September 30, 2014 and December 31, 2013, respectively	0
Accumulated other comprehensive loss	888
Total HC2 Holdings, Inc. stockholders’ equity before noncontrolling interest	(4,253)
Non-controlling interest	(10,207)
Total permanent equity	(14,460)
TOTAL LIABILITIES, TEMPORARY AND STOCKHOLDERS’ EQUITY	$ 1,997

Organization and Business Org46

Organization and Business Organization and Business - Reconciliation of Previously Reported to Restated Consolidated Balance Sheets (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Accounts receivable, allowance for doubtful accounts receivable	$ 4,639	$ 2,476
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	23,689,816	14,257,545
Common stock, shares outstanding	23,658,190	14,225,919
Treasury stock, shares	31,626	31,626
Series A Convertible Preferred Stock [Member]
Preferred stock, shares issued	30,000	30,000
Preferred stock, shares outstanding	0	0
Series A-1 Convertible Preferred Stock [Member]
Preferred stock, shares issued	11,000	11,000
Preferred stock, shares outstanding	0	0

Organization and Business Org47

Organization and Business Organization and Business - Reconciliation of Previously Reported to Restated Consolidated Statement of Stockholders' Equity (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	$ 112,982	$ 54,409
Common Stock [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	24	14
Additional Paid-In Capital [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	131,472	98,598
Treasury Stock [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(378)	(378)
Retained Earnings (Accumulated Deficit) [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(56,025)	(29,773)
Accumulated Other Comprehensive Income (Loss) [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(14,974)	(14,052)
Noncontrolling Interest [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	52,863	$ 0
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	127,442
As Reported | Common Stock [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	24
As Reported | Additional Paid-In Capital [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	134,748
As Reported | Treasury Stock [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(378)
As Reported | Retained Earnings (Accumulated Deficit) [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(54,160)
As Reported | Accumulated Other Comprehensive Income (Loss) [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(15,862)
As Reported | Noncontrolling Interest [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	63,070
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(14,460)
Adjustments | Common Stock [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	0
Adjustments | Additional Paid-In Capital [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(3,276)
Adjustments | Treasury Stock [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	0
Adjustments | Retained Earnings (Accumulated Deficit) [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	(1,865)
Adjustments | Accumulated Other Comprehensive Income (Loss) [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	888
Adjustments | Noncontrolling Interest [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders' Equity	$ (10,207)

Organization and Business - R48

Organization and Business - Reconciliation of Previously Reported to Restated Consolidate Statements of Cash Flows (Details) - USD ($) $ in Thousands	May. 29, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET INCOME (LOSS)		$ (16,465)	$ (6,705)	$ (24,262)	$ 127,441
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for doubtful accounts receivable				(114)	1,563
Share-based compensation expense		1,200	200	2,867	1,742
Depreciation and amortization				4,071	11,961
Amortization of deferred financing costs				288	0
(Gain) loss on sale or disposal of assets				635	(150,704)
(Gain) loss on sale of investments				(437)	0
Equity investment (income)/loss		479	0	479	0
Impairment of goodwill and long-lived assets				0	478
Amortization of debt discount				1,381	86
Loss on early extinguishment or restructuring of debt				6,947	21,178
Change in fair value of Contingent Value Rights		0	0	0	(14,904)
Deferred income taxes				1	(156)
Unrealized foreign currency transaction (gain) loss on intercompany and foreign debt				57	(700)
Other				1,307	0
Changes in assets and liabilities, net of acquisitions:
(Increase) decrease in accounts receivable				2,181	(5,201)
(Increase) decrease in costs and recognized earnings in excess of billings on uncompleted contracts				522	0
(Increase) decrease in inventories				(1,984)	0
(Increase) decrease in prepaid expenses and other current assets				2,839	(2,087)
(Increase) decrease in other assets				1,558	2,896
Increase (decrease) in accounts payable				1,976	(2,157)
Increase (decrease) in accrued interconnection costs				(2,618)	6,732
Increase (decrease) in accrued payroll and employee benefits				3,055	0
Increase (decrease) in accrued expenses, other current liabilities and other liabilities, net				(2,300)	(7,620)
Increase (decrease) in billings in excess of costs and recognized earnings on uncompleted contracts				(7,695)	0
Increase (decrease) in accrued income taxes				(2,198)	(3,506)
Increase (decrease) in accrued interest				502	(1,715)
Net cash provided by (used in) operating activities				(10,942)	(14,673)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment				(4,064)	(12,034)
Sale of property and equipment and other assets				3,696	9
Purchase of investments				(18,640)	0
Investment in debt security				(250)	0
Sale of investments				1,135	0
Cash from disposition of business, net of cash disposed				25,700	270,659
Cash paid for business acquisitions, net of cash acquired				(166,510)	(397)
Purchase of noncontrolling interest				(6,978)	0
Contribution by noncontrolling interest				15,500	0
Decrease in restricted cash				0	425
Net cash (used in) provided by investing activities				(150,411)	258,662
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term obligations				492,068	0
Principal payments on long-term obligations				(294,237)	(128,008)
Payment of fees on restructuring of debt				(837)	(1,256)
Proceeds from sale of common stock, net	$ 6,000			6,000	1,145
Proceeds from sale of preferred stock, net				39,765	0
Proceeds from the exercise of warrants and stock options				24,344	0
Payment of dividend equivalents				0	(1,235)
Payment of dividends				(750)	(119,788)
Taxes paid in lieu of shares issued for share-based compensation				(41)	(837)
Net cash provided by (used) in financing activities				266,312	(249,979)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS				(2,217)	(1,669)
NET CHANGE IN CASH AND CASH EQUIVALENTS				102,742	(7,659)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD				8,997	23,197
CASH AND CASH EQUIVALENTS, END OF PERIOD		111,739	$ 15,538	111,739	15,538
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest				2,388	10,367
Cash paid for taxes				7,761	608
Non-cash investing and financing activities:
Capital lease additions				0	$ 148
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET INCOME (LOSS)		(14,948)		(22,397)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for doubtful accounts receivable				(114)
Share-based compensation expense				1,725
Depreciation and amortization				4,071
Amortization of deferred financing costs				288
(Gain) loss on sale or disposal of assets				635
(Gain) loss on sale of investments				(437)
Equity investment (income)/loss		288		288
Impairment of goodwill and long-lived assets				0
Amortization of debt discount				1,381
Loss on early extinguishment or restructuring of debt				6,947
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				57
Other				0
Changes in assets and liabilities, net of acquisitions:
(Increase) decrease in accounts receivable				6,037
(Increase) decrease in costs and recognized earnings in excess of billings on uncompleted contracts				522
(Increase) decrease in inventories				(1,984)
(Increase) decrease in prepaid expenses and other current assets				25,539
(Increase) decrease in other assets				1,558
Increase (decrease) in accounts payable				1,751
Increase (decrease) in accrued interconnection costs				(2,618)
Increase (decrease) in accrued payroll and employee benefits				3,055
Increase (decrease) in accrued expenses, other current liabilities and other liabilities, net				(5,156)
Increase (decrease) in billings in excess of costs and recognized earnings on uncompleted contracts				(7,695)
Increase (decrease) in accrued income taxes				(2,198)
Increase (decrease) in accrued interest				502
Net cash provided by (used in) operating activities				11,758
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment				(4,064)
Sale of property and equipment and other assets				3,696
Purchase of investments				(18,640)
Investment in debt security				(250)
Sale of investments				1,135
Cash from disposition of business, net of cash disposed				0
Cash paid for business acquisitions, net of cash acquired				(163,510)
Purchase of noncontrolling interest				(6,978)
Contribution by noncontrolling interest				15,500
Decrease in restricted cash				0
Net cash (used in) provided by investing activities				(173,111)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term obligations				492,068
Principal payments on long-term obligations				(294,237)
Payment of fees on restructuring of debt				(837)
Proceeds from sale of common stock, net				6,000
Proceeds from sale of preferred stock, net				39,765
Proceeds from the exercise of warrants and stock options				24,344
Payment of dividend equivalents				0
Payment of dividends				(750)
Taxes paid in lieu of shares issued for share-based compensation				(41)
Net cash provided by (used) in financing activities				266,312
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS				(2,217)
NET CHANGE IN CASH AND CASH EQUIVALENTS				102,742
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD				8,997
CASH AND CASH EQUIVALENTS, END OF PERIOD		111,739		111,739
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest				2,388
Cash paid for taxes				7,761
Non-cash investing and financing activities:
Capital lease additions				0
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
NET INCOME (LOSS)		(1,517)		(1,865)
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				1,142
Depreciation and amortization				0
Amortization of deferred financing costs				0
(Gain) loss on sale or disposal of assets				0
(Gain) loss on sale of investments				0
Equity investment (income)/loss		191		191
Impairment of goodwill and long-lived assets				0
Amortization of debt discount				0
Loss on early extinguishment or restructuring of debt				0
Change in fair value of Contingent Value Rights		0		0
Deferred income taxes				0
Unrealized foreign currency transaction (gain) loss on intercompany and foreign debt				0
Other				1,307
Changes in assets and liabilities, net of acquisitions:
(Increase) decrease in accounts receivable				(3,856)
(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				(22,700)
(Increase) decrease in other assets				0
Increase (decrease) in accounts payable				225
Increase (decrease) in accrued interconnection costs				0
Increase (decrease) in accrued payroll and employee benefits				0
Increase (decrease) in accrued expenses, other current liabilities and other liabilities, net				2,856
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				(22,700)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment				0
Sale of property and equipment and other assets				0
Purchase of investments				0
Investment in debt security				0
Sale of investments				0
Cash from disposition of business, net of cash disposed				25,700
Cash paid for business acquisitions, net of cash acquired				(3,000)
Purchase of noncontrolling interest				0
Contribution by noncontrolling interest				0
Decrease in restricted cash				0
Net cash (used in) provided by investing activities				22,700
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
Payment of dividends				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				0
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 Accoun49

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2014USD ($)
Significant Accounting Policies [Line Items]
Unapproved change orders on open projects	$ 30,300
Minimum [Member]
Significant Accounting Policies [Line Items]
Ownership interest rate	20.00%
Maximum [Member]
Significant Accounting Policies [Line Items]
Ownership interest rate	50.00%
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 Companyb 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.
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
Cable-Ships and Submersibles [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment	35 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
Plant and Motor Vehicles [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment	3 years
Plant and Motor Vehicles [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment	20 years
Global Marine Systems Limited [Member]
Significant Accounting Policies [Line Items]
Percentage of ownership interest owned	97.00%
Schuff [Member]
Significant Accounting Policies [Line Items]
Percentage of ownership interest owned	70.00%
ANG [Member]
Significant Accounting Policies [Line Items]
Percentage of ownership interest owned	51.00%
Genovel [Member]
Significant Accounting Policies [Line Items]
Percentage of ownership interest owned	80.00%

Accounts Receivable and Contr50

Accounts Receivable and Contracts in Progress - Schedule of Accounts Receivable (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Contract receivables:
Contracts in progress	$ 91,908	$ 0
Unbilled retentions	33,693	0
Trade receivables	48,228	21,456
Other receivables	1,380	0
Allowance for doubtful accounts	(4,639)	(2,476)
Total accounts receivable	$ 170,570	$ 18,980

Accounts Receivable and Contr51

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	Sep. 30, 2014	Dec. 31, 2013
Receivables [Abstract]
Costs incurred on contracts in progress	$ 479,009	$ 0
Estimated earnings	51,923	0
Costs incurred on contracts in progress and estimated earnings, gross	530,932	0
Less progress billings	562,731	0
Costs incurred on contracts in progress and estimated earnings, net	(31,799)	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	26,604	0
Billings in excess of costs and recognized earnings on uncompleted contracts	(58,403)	0
Costs incurred on contracts in progress and estimated earnings, net	$ (31,799)	$ 0

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Raw materials	$ 22,542	$ 0
Work in process	1,147	0
Finished goods	205	0
Inventories, net	$ 23,894	$ 0

Business Combinations - Additio

Business Combinations - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Sep. 22, 2014	Aug. 01, 2014	May. 29, 2014	Oct. 31, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Oct. 29, 2014	Jun. 30, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Acquisition date							May 29, 2014
Goodwill					$ 31,877		$ 31,877				$ 3,378
Revenue					183,289	$ 61,077	323,229	$ 178,487
Net income (loss)					(17,396)	$ (6,705)	$ (26,252)	$ 127,441
Common Stock [Member]
Business Acquisition [Line Items]
Number of shares acquired			2,500,000
Schuff [Member]
Business Acquisition [Line Items]
Acquisition date							May 29, 2014
Number of shares acquired			198,411
Percentage of ownership interest acquired			65.00%							70.00%
Business acquisition purchase price valued per share			$ 31.50
Minority interest percentage by non controlling interest			35.00%
Goodwill			$ 24,612
Net enterprise value			$ 132,397
Transaction cost incurred in acquisition					300		$ 300
Revenue					137,700		192,200
Net income (loss)					3,500		$ 6,100
Schuff [Member] | Common Stock [Member]
Business Acquisition [Line Items]
Number of shares acquired			2,500,000
Schuff [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Number of shares acquired				733,634
Percentage of ownership interest acquired				89.00%					90.60%
Schuff [Member] | Subsequent Event [Member] | Open-market Transaction [Member]
Business Acquisition [Line Items]
Percentage of ownership interest acquired									90.60%
Schuff [Member] | Subsequent Event [Member] | Short-form Merger [Member]
Business Acquisition [Line Items]
Percentage of ownership interest acquired									100.00%
ANG [Member]
Business Acquisition [Line Items]
Acquisition date							Aug. 1, 2014
Percentage of ownership interest acquired		51.00%
Minority interest percentage by non controlling interest		49.00%
Goodwill		$ 1,374
Net enterprise value		$ 23,737
Revenue					500		$ 500
Net income (loss)					(400)		$ 400
ANG [Member] | Series A Convertible Preferred Stock [Member]
Business Acquisition [Line Items]
Number of shares acquired		15,500
Enterprise Value		$ 15,500
GMSL [Member]
Business Acquisition [Line Items]
Acquisition date							Sep. 22, 2014
Percentage of ownership interest acquired	97.00%
Minority interest percentage by non controlling interest	3.00%
Goodwill	$ 1,366
Enterprise Value	260,000
Net enterprise value	$ 130,388
Transaction cost incurred in acquisition					4,300		$ 4,300
Revenue					3,900		3,900
Net income (loss)					$ 600		$ 600

Business Combinations - Schedul

Business Combinations - Schedule of Preliminary Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Sep. 22, 2014	Aug. 01, 2014	May. 29, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Goodwill	$ 31,877				$ 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
Other assets				2,947
Goodwill				24,612
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
Minority 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
Schuff [Member] | Trade Names [Member]
Business Acquisition [Line Items]
Intangibles				$ 4,478
ANG [Member]
Business Acquisition [Line Items]
Cash and cash equivalents			$ 15,704
Accounts receivable			306
Prepaid expenses and other current assets			31
Inventories			27
Property and equipment, net			1,921
Other assets			2
Goodwill			1,374
Total assets acquired			28,365
Accounts payable			49
Accrued payroll and employee benefits			5
Accrued expenses and other current liabilities			26
Billings in excess of costs and recognized earnings on uncompleted contracts			114
Current portion of long-term debt			34
Long-term debt			870
Deferred tax liability			3,530
Total liabilities assumed			4,628
Enterprise value			23,737
Less fair value of noncontrolling interest			8,237
Purchase price attributable to controlling interest			15,500
ANG [Member] | Customer Contracts [Member]
Business Acquisition [Line Items]
Intangibles			2,700
ANG [Member] | Trade Names [Member]
Business Acquisition [Line Items]
Intangibles			$ 6,300
Global Marine Systems Limited [Member]
Business Acquisition [Line Items]
Cash and cash equivalents		$ 62,555
Investments		26,767
Accounts receivable		22,381
Prepaid expenses and other current assets		23,108
Inventories		7,395
Restricted cash		4,682
Property and equipment, net		152,022
Other assets		7,482
Goodwill		1,366
Total assets acquired		318,315
Accounts payable		8,740
Accrued expenses and other current liabilities		44,136
Accrued income taxes		1,251
Current portion of long-term debt		8,140
Long-term debt		78,356
Pension liability		46,110
Deferred tax liability		709
Other liabilities		485
Minority interest		0
Total liabilities assumed		187,927
Enterprise value		130,388
Less fair value of noncontrolling interest		3,803
Purchase price attributable to controlling interest		126,585
Global Marine Systems Limited [Member] | Customer Contracts [Member]
Business Acquisition [Line Items]
Intangibles		8,121
Global Marine Systems Limited [Member] | Trade Names [Member]
Business Acquisition [Line Items]
Intangibles		1,137
Global Marine Systems Limited [Member] | Developed Technology [Member]
Business Acquisition [Line Items]
Intangibles		$ 1,299

Business Combinations - Sched55

Business Combinations - Schedule of Acquired Amortizable Intangible Assets and Related Estimated Useful Lives (Detail) - USD ($) $ in Thousands	Sep. 22, 2014	Aug. 01, 2014	May. 29, 2014	Sep. 30, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
Value	$ 10,557
Schuff [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Value			$ 4,478
Schuff [Member] | Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful Lives				15 years
Value			$ 4,478
ANG [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Value		$ 9,000
ANG [Member] | Customer Contracts [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful Lives				4 years
Value		2,700
ANG [Member] | Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful Lives				15 years
Value		$ 6,300
Global Marine Systems Limited [Member] | Customer Contracts [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful Lives				15 years
Value	8,121
Global Marine Systems Limited [Member] | Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful Lives				3 years
Value	1,137
Global Marine Systems Limited [Member] | Developed Technology [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful Lives				4 years
Value	$ 1,299

Business Combinations - Sched56

Business Combinations - Schedule of Unaudited Consolidated Pro Forma Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Business Combinations [Abstract]
Net revenue	$ 223,595	$ 212,021	$ 630,230	$ 590,176
Net income (loss) from continuing operations	(15,553)	2,875	5,346	8,239
Net income (loss) from discontinued operations	(106)	(21,669)	(94)	(19,850)
Gain (loss) from sale of discontinued operations	663	15,650	(121)	150,695
Net income (loss) attributable to HC2 Holdings, Inc.	$ (14,996)	$ (2,912)	$ 5,131	$ 139,780
Income (loss) from continuing operations (in USD per share)	$ (0.67)	$ 0.20	$ 0.30	$ 0.59
Income (loss) from discontinued operations (in USD per share)	0	(1.54)	(0.01)	(1.42)
Gain (loss) from sale of discontinued operations (in USD per share)	0.03	1.11	(0.01)	10.77
Net income (loss) attributable to HC2 (in USD per share)	$ (0.64)	$ (0.21)	$ 0.28	$ 9.99

Investments - Additional Inform

Investments - Additional Information (Detail) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014USD ($)investment$ / sharesshares	Sep. 30, 2013USD ($)	Sep. 30, 2014USD ($)investment$ / sharesshares	Sep. 30, 2013USD ($)
Schedule of Investments [Line Items]
Number of types of investments | investment	2		2
Equity method investments	$ 41,600		$ 41,600
Term of warrant			5 years
Loss from equity investees	$ (479)	$ 0	$ (479)	$ 0
Series C Convertible Preferred Stock [Member]
Schedule of Investments [Line Items]
Equity method investments, shares | shares			87,196
Equity method investments, stock price per share | $ / shares	$ 17.50		$ 17.50
Convertible Debt of mParticle [Member]
Schedule of Investments [Line Items]
Loss from equity investees			$ (479)
Long-term investments in debt securities	$ 300		$ 300
Common Stock [Member]
Schedule of Investments [Line Items]
Equity method investments, shares | shares			7,363,334
Equity method investments, stock price per share | $ / shares	$ 1.75		$ 1.75
Equity method investments, warrants issued or additional share issuance | shares	4,117,647		4,117,647
Equity method investments, stock exercise price per share | $ / shares			$ 2.26
Novatel Wireless, Inc. [Member]
Schedule of Investments [Line Items]
Equity method investments	$ 14,200		$ 14,200
Equity method investments, ownership percentage	17.00%		17.00%
Kaneland LLC [Member]
Schedule of Investments [Line Items]
Equity method investments	$ 1,200		$ 1,200
Equity method investments, ownership percentage	35.00%		35.00%
Joint Ventures by GMSL [Member]
Schedule of Investments [Line Items]
Equity method investments	$ 26,500		$ 26,500

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 238,052	$ 6,069
Less accumulated depreciation and amortization	3,444	3,107
Property, plant and equipment, net	234,608	2,962
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	19,646	0
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	22,183	0
Building and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,804	386
Plants [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,451	0
Cable-Ships and Submersibles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	140,408	0
Network Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,273	5,303
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	29,821	0
Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,894	0
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,074	380
EDP Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,978	0
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 4,520	$ 0

Property, Plant and Equipment59

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 2.8	$ 3.8
Cable-Ships and Submersibles [Member]
Property, Plant and Equipment [Line Items]
Equipment under capital leases	$ 80.8	$ 80.8	$ 0

Accounts Payable - Summary of A

Accounts Payable - Summary of Accounts Payable (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Payables and Accruals [Abstract]
Accounts payable	$ 52,064	$ 6,964
Retentions payable	3,747	0
Total accounts payable	$ 55,811	$ 6,964

Long-Term Obligations - Schedul

Long-Term Obligations - Schedule of Long-term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Obligations under capital leases	$ 68,584	$ 0
Other	32	0
Long-term debt	312,802	0
Less current portion	(22,408)	0
Long-term debt	290,394	0
Note Payable Collaterized by Assets [Member]
Debt Instrument [Line Items]
Long-term debt	207,025	0
Note Payable Collaterized by Assets [Member] | Global Marine Systems Limited [Member]
Debt Instrument [Line Items]
Long-term debt	17,913	0
Note Payable Collaterized by Assets [Member] | ANG [Member]
Debt Instrument [Line Items]
Long-term debt	846	0
Note Payable Collaterized by Schuff's Asset under Revolving Line of Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt	13,610	0
Note Payable Collaterized by Real Estate [Member] | Schuff [Member]
Debt Instrument [Line Items]
Long-term debt	$ 4,792	$ 0

Long-Term Obligations - Sched62

Long-Term Obligations - Schedule of Long-term Debt Additional Information (Detail)	9 Months Ended
	Sep. 30, 2014
Note Payable Collaterized by Assets [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	2,016
Note Payable Collaterized by Assets [Member] | Global Marine Systems Limited [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate terms	Interest payable monthly at LIBOR plus 3.5% and principal payable monthly
Debt instrument, variable rate	3.50%
Debt instrument, maturity year	2,019
Note Payable Collaterized by Assets [Member] | ANG [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate terms	Interest payable monthly at 5.5% and principal payable monthly
Debt instrument, variable rate	5.50%
Debt instrument, maturity year	2,018
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
Note Payable Collaterized by Real Estate [Member] | Schuff [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

Long-Term Obligations - Sched63

Long-Term Obligations - Schedule of Aggregate Debt Maturities (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]
2,014	$ 17,599
2,015	14,296
2,016	216,275
2,017	12,796
2,018	19,141
Thereafter	32,695
Long-term debt	$ 312,802	$ 0

Long-Term Obligations - Additio

Long-Term Obligations - Additional Information (Detail)

Sep. 30, 2014USD ($)

Sep. 30, 2014GBP (£)

Sep. 28, 2014

Sep. 22, 2014USD ($)

May. 29, 2014USD ($)

Aug. 30, 2013USD ($)

Sep. 30, 2014USD ($)

Sep. 30, 2013USD ($)

Sep. 30, 2014USD ($)vessellease

Oct. 30, 2014USD ($)

Oct. 29, 2014USD ($)

Oct. 21, 2014USD ($)

Sep. 30, 2014GBP (£)

Sep. 26, 2014USD ($)

Debt Instrument [Line Items]

Aggregate principal amount

$ 125,300,000

Debt instrument term

12 months

18 months

4 years 6 months

Aggregate principle amount

$ 214,000,000

Proceeds from issuance of senior secured credit facility

$ 80,000,000

Credit agreement interest rate

3.65%

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.

Extended maturity date

Apr. 30, 2019

Credit facility available

$ 10,000,000

$ 10,000,000

$ 10,000,000

Term loan principle amount outstanding

17,912,516

£ 11,028,736

Line of credit borrowings

312,800,000

312,800,000

312,800,000

Line of credit outstanding amount

3,900,000

3,900,000

3,900,000

Lease principal amount outstanding

68,583,786

68,583,786

$ 68,583,786

£ 42,227,000

Global Marine Systems Limited [Member]

Debt Instrument [Line Items]

Proceeds from issuance of senior secured credit facility

$ 214,000,000

Schuff [Member]

Debt Instrument [Line Items]

Aggregate principle amount

$ 15,000,000

Fixed charge ratio

1.2

Credit facility available

32,500,000

32,500,000

$ 32,500,000

Note Payable Collaterized by Assets [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.

Debt instrument, variable rate

0.25%

Note Payable Collaterized By Asset Under Revolving Line Of Credit Agreement [Member]

Debt Instrument [Line Items]

Debt instrument, variable rate

3.00%

Debt instrument, special interest on compensation fund

1.00%

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

3,500,000

$ 3,500,000

International LOC [Member] | Schuff [Member]

Debt Instrument [Line Items]

Credit facility available

3,500,000

3,500,000

3,500,000

Line of credit borrowings

0

0

0

Line of credit outstanding amount

$ 0

0

$ 0

Subsequent Event [Member] | Schuff [Member]

Debt Instrument [Line Items]

Aggregate principle amount

$ 15,000,000

Subsequent Event [Member] | Note Payable Collaterized by Schuff's Property and Plant under Revolving Line of Credit Agreement [Member]

Debt Instrument [Line Items]

Line of credit, maximum amount

$ 2,000,000

$ 3,500,000

Alternate Base Rate [Member]

Debt Instrument [Line Items]

Credit agreement interest rate

2.00%

Alternate Base Rate [Member] | Note Payable Collaterized by Assets [Member]

Debt Instrument [Line Items]

Credit agreement interest rate

7.50%

LIBOR Loans Borrowing Rate [Member]

Debt Instrument [Line Items]

Credit agreement interest rate

1.00%

LIBOR Loans Borrowing Rate [Member] | Note Payable Collaterized by Assets [Member]

Debt Instrument [Line Items]

Credit agreement interest rate

8.50%

Maritime Equipment [Member]

Debt Instrument [Line Items]

Number of leases | lease

2

Innovator Lease [Member]

Debt Instrument [Line Items]

Credit agreement interest rate

4.00%

Number of vessels | vessel

2

Lease extension period

1 year

Lease interest rate

10.40%

Innovator Lease [Member] | Minimum [Member]

Debt Instrument [Line Items]

Lease expiration period

2,018

Innovator Lease [Member] | Maximum [Member]

Debt Instrument [Line Items]

Lease expiration period

2,022

Cable Lease [Member]

Debt Instrument [Line Items]

Lease expiration period

2,023

May Credit Facility [Member]

Debt Instrument [Line Items]

Premiums and other costs

900,000

September Credit Facility [Member]

Debt Instrument [Line Items]

Write of deferred financing cost

400,000

Write of original issue discount

800,000

Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Debt instrument term

5 years

Credit agreement interest rate

3.23%

Debt instrument rate description

The Real Estate Term Advance has a floating interest rate of LIBOR plus 4.0% and requires monthly interest payments.

Line of credit amended date

May 5, 2014

Issuance of note payable collaterized

$ 5,000,000

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%

Deferred financing costs

$ 800,000

Premiums and other 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%

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%

Deferred financing costs

3,700,000

Premiums and other costs

200,000

Original issue discount included in gain (loss) on early extinguishment or restructuring of debt

$ 20,000

Principal amount outstanding

$ 2,400,000

Delayed Draw Term Loan [Member] | Global Marine Systems Limited [Member]

Debt Instrument [Line Items]

Proceeds from issuance of senior secured credit facility

$ 36,000,000

Partial Prepayments [Member] | May Credit Facility [Member]

Debt Instrument [Line Items]

Write of deferred financing cost

100,000

Write of original issue discount

1,900,000

Payoff [Member] | May Credit Facility [Member]

Debt Instrument [Line Items]

Write of deferred financing cost

300,000

Write of original issue discount

$ 2,500,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	May. 29, 2014	Mar. 31, 2014	Dec. 31, 2013
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ 4,307	$ (3,308)	$ 6,470	$ (3,090)
Estimated net operating loss carryforward	$ 195,000		$ 195,000
Substantial acquisitions percentage (or more)						5.00%
Common stock, shares issued	23,689,816		23,689,816				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]
Common stock, shares issued					1,500,000
Schuff [Member] | Series A Convertible Preferred Stock [Member]
Operating Loss Carryforwards [Line Items]
Preferred stock, shares issued					30,000

Income Taxes - Open Tax Years f

Income Taxes - Open Tax Years for Each Major Jurisdiction (Detail)	9 Months Ended
	Sep. 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 (Detail) $ in Thousands	Sep. 30, 2014USD ($)
Operating Leases
2014 (as of September 30, 2014)	$ 1,235
2,015	4,448
2,016	3,817
2,017	3,048
2,018	2,264
Thereafter	12,393
Total long-term obligations	$ 27,205

Commitments and Contingencies68

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 0.8	$ 0.5	$ 4.2	$ 2.2

Employee Retirement Plans - Add

Employee Retirement Plans - Additional Information (Detail) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2014USD ($)$ / h	Mar. 31, 2014$ / h	Dec. 31, 2012USD ($)	Dec. 31, 2013USD ($)	Mar. 31, 2012USD ($)
Steelworkers Pension Trust [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plan contribution made by employer			$ 200
Union Steelworkers [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plan contribution made by employer	$ 50
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] | Steelworkers Pension Trust [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension withdrawal liability	$ 800			$ 2,400	$ 2,600
Defined benefit pension plan contribution made by employer	200
Schuff [Member] | California Ironworkers Field Pension Trust [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plan contribution made by employer	$ 1,100
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] | 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 ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	May. 31, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value at date of grant for options granted (USD per share)				$ 1.46
Share-based compensation expense recognized		$ 1,200	$ 200	$ 2,867	$ 1,742
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding awards, shares		3,557,425		3,557,425		589,859
Options granted, shares				3,427,767	690,948
Weighted average remaining period				1 year 8 months 12 days
Intrinsic value of exercised options				$ 300
Unvested stock options outstanding		2,295,831		2,295,831
Compensation expense		$ 2,900		$ 2,900
Unvested shares expected to vest		2,295,831		2,295,831
Weighted average remaining life				9 years 9 months 18 days
Weighted average exercise price per share		$ 4.26		$ 4.26
Intrinsic value		$ 700		$ 700
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 900		$ 900
Weighted average remaining period				1 year 8 months 12 days
Unvested shares expected to vest, shares		234,428		234,428
Philip Falcone [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted, shares	1,568,864			3,350,946
Prior Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding awards, shares		472,002		472,002
Omnibus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares authorized to issue, shares		5,000,000		5,000,000

Share-Based Compensation - Fair

Share-Based Compensation - Fair Value of Each Option Grant Estimated (Detail)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life	6 years
Dividend yield	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life		4 years
Risk-free interest rate	1.65%	1.17%
Expected volatility	36.74%	35.55%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life		5 years 9 months
Risk-free interest rate	2.73%	1.73%
Expected volatility	37.80%	37.23%

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Company's Restricted Stock Activity (Detail) - Restricted Stock [Member]	9 Months Ended
	Sep. 30, 2014$ / sharesshares
Shares
Beginning Balance, Unvested | shares	22,500
Granted | shares	345,761
Vested | shares	(133,833)
Forfeitures | shares	0
Ending Balance, Unvested | shares	234,428
Weighted Average Grant Date Fair Value
Unvested, Beginning balance (USD per share) | $ / shares	$ 13.59
Granted (USD per share) | $ / shares	4.05
Vested (USD per share) | $ / shares	5.52
Forfeitures (USD per share) | $ / shares	0
Unvested, Ending balance (USD per share) | $ / shares	$ 4.14

Share-Based Compensation - Su73

Share-Based Compensation - Summary of Company's Stock Option Activity (Detail) - Stock Option [Member] - $ / shares	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Shares
Outstanding, Beginning Balance	589,859
Granted	3,427,767	690,948
Exercised	(230,300)
Forfeitures	(229,901)
Outstanding, Ending Balance	3,557,425
Shares, Eligible for exercise	1,261,594
Weighted Average Exercise Price
Outstanding, Beginning Balance (USD per share)	$ 3.17
Granted (USD per share)	4.29
Exercised (USD per share)	2.43
Forfeitures (USD per share)	4.47
Outstanding, Ending Balance (USD per share)	4.26
Weighted Average Exercise Price, Eligible for exercise (USD per share)	$ 4.20

Share-Based Compensation - Intr

Share-Based Compensation - Intrinsic Values and Remaining Contractual Terms of Company's Stock Options (Detail)	9 Months Ended
	Sep. 30, 2014USD ($)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Intrinsic Value, Options outstanding	$ 1,126,901
Intrinsic Value, Options exercisable	$ 461,482
Weighted Average Remaining Life in Years, Options outstanding	9 years 9 months 18 days
Weighted Average Remaining Life in Years, Options exercisable	9 years 7 months 6 days

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($)	Sep. 22, 2014	May. 29, 2014	Jul. 31, 2009	Sep. 30, 2014	Dec. 31, 2013
Common stock, shares outstanding				23,658,190	14,225,919
Preferred Stock, shares outstanding				41,000	0
Term of warrants			5 years
Expiry date of warrants				Jul. 1, 2014
Warrants expiration date				Jul. 1, 2014
Common stock, shares issued				23,689,816	14,257,545
Beneficial conversion feature				$ 659,000
Schuff [Member]
Common stock, shares issued		1,500,000
Preferred stock cumulative cash dividend rate		7.50%
Preferred stock dividend rate				4.00%
Preferred stock redemption price per share on accrued and unpaid dividends, 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
Warrants exercised, shares				878,940
Issuance of common shares upon warrant exercised				3,855,289
Class A-2 [Member]
Number of warrants entitled for purchase			1,000,000
Warrants exercised, shares				780,753
Issuance of common shares upon warrant exercised				3,424,641
Class A Warrants [Member]
Aggregate amount of common stock, shares			1,000,000
Class B Warrants [Member]
Aggregate amount of common stock, shares			1,500,000
Class A-3 [Member]
Number of warrants entitled for purchase			1,000,000
Warrants exercised, shares				5,709
Issuance of common shares upon warrant exercised				25,041
Series A Preferred Stock [Member]
Beneficial conversion feature				$ 400,000
Convertible common shares				$ 30,000,000
Series A Preferred Stock [Member] | Maximum [Member]
Intrinsic value, price per share				$ 4.05
Series A Preferred Stock [Member] | Minimum [Member]
Intrinsic value, price per share				$ 4
Series A Preferred Stock [Member] | Schuff [Member]
Preferred stock, shares issued		30,000
Series A-1 Convertible Preferred Stock [Member]
Beneficial conversion feature				$ 300,000
Convertible common shares				$ 11,000,000
Series A-1 Convertible Preferred Stock [Member] | Maximum [Member]
Intrinsic value, price per share				$ 4.36
Series A-1 Convertible Preferred Stock [Member] | Minimum [Member]
Intrinsic value, price per share				$ 4.25
Series A-1 Convertible Preferred Stock [Member] | Schuff [Member]
Preferred stock, shares issued	11,000
Preferred stock conversion price, price per share		$ 4.25
Series A-1 Convertible Preferred Stock [Member] | Schuff [Member] | Amendment [Member]
Preferred stock conversion price, price per share	$ 4

Fair Value of Financial Instr76

Fair Value of Financial Instruments and Derivatives - Additional Information (Detail) $ in Millions	Sep. 30, 2014USD ($)
Level 1 Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities at fair value	$ 3.3
Level 2 Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated aggregate fair value of the Company's debt	$ 312.8

Operating Segment and Related77

Operating Segment and Related Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2014segment
Segment Reporting [Abstract]
Number of reportable geographic segments	2
Number of reportable operating segments	5
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 Related78

Operating Segment and Related Information - Summary of Company's Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 183,289	$ 61,077	$ 323,229	$ 178,487
Income (Loss) from Operations	(2,580)	(4,113)	(6,783)	(21,106)
Capital Expenditures	3,400	2,079	4,064	12,034
Corporate [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Income (Loss) from Operations	(8,522)	0	(17,665)	0
Capital Expenditures	0	0	22	0
Operating Segments [Member] | Telecommunications [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	41,267	61,077	126,731	178,487
Income (Loss) from Operations	(1,344)	(4,113)	(1,241)	(21,106)
Capital Expenditures	38	2,079	294	12,034
Operating Segments [Member] | Life Sciences [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Income (Loss) from Operations	(495)	0	(1,430)	0
Operating Segments [Member] | Manufacturing [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	137,706	0	192,182	0
Income (Loss) from Operations	9,071	0	14,843	0
Capital Expenditures	3,321	0	3,707	0
Operating Segments [Member] | Utilities [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	460	0	460	0
Income (Loss) from Operations	(758)	0	(758)	0
Capital Expenditures	41	0	41	0
Operating Segments [Member] | Marine Services [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	3,856	0	3,856	0
Income (Loss) from Operations	(532)	0	(532)	0
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	161,402	31,863	266,390	79,126
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	19,534	29,214	53,216	99,361
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 2,353	$ 0	$ 3,623	$ 0

Operating Segment and Related79

Operating Segment and Related Information - Segment Reporting for Property and Equipment - Net and Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, Plant and Equipment—Net	$ 234,608	$ 2,962
Assets	731,868	87,680
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, Plant and Equipment—Net	76,673	2,303
Assets	384,271	71,481
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, Plant and Equipment—Net	152,403	659
Assets	334,907	16,199
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, Plant and Equipment—Net	5,532	0
Assets	$ 12,690	$ 0

Backlog - Additional Informatio

Backlog - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2014USD ($)contract
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Backlog amount	$ 409.7
Number of contracts attributable to backlog | contract	5
Contracts or Purchase Orders [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Backlog amount	$ 278.7
Letters of Intent [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Backlog amount	131
Five Contracts, Letters of Intent, Notices to Proceed or Purchase Orders [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Backlog amount	$ 243.6
Backlog percentage	59.40%

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Detail) $ in Thousands, CAD in Millions	Jul. 31, 2014USD ($)	Jul. 31, 2013USD ($)	Oct. 31, 2014USD ($)	Feb. 28, 2014USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2013USD ($)	Jun. 30, 2013USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2013USD ($)	Dec. 31, 2013USD ($)	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
Gain from sale of PTI					$ 663	$ 15,650		(121)	$ 150,695
Amount released from escrow								3,200
Escrow deposit recorded in prepaid expenses and other current assets					6,450			6,450
Escrow deposit recorded in other assets					4,800			4,800
Adjustment to remaining carrying value of discontinued operation						$ 300
Assets held for sale					3,865			3,865		$ 6,329
Subsequent Event [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Escrow proceeds received			$ 6,450
York [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amount released from escrow				$ 800				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										$ 19,500	CAD 20
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			15,250
Sale price of outstanding placed in escrow		$ 129,000
Indemnification obligation					12,900			12,900
Escrow received								126,000
Additional amount held in escrow								3,000
Escrow proceeds received	3,000
Gain from sale of PTI	$ 700
Purchase consideration placed in escrow					6,450			$ 6,450
Period of escrow to be released after closing date								14 months
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			$ 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]
Purchase consideration placed in escrow					$ 4,800			$ 4,800
Period of escrow to be released after closing date								30 days

Discontinued Operations - Summa

Discontinued Operations - Summarized Operating Results of Discontinued Operations and Assets and Liabilities Classified as Held for Sale (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on early extinguishment or restructuring of debt	$ (6,947)	$ 0	$ (6,947)	$ 0
Income from discontinued operations	(106)	(21,490)	(62)	(19,718)
Prepaid expenses and other current assets	4,800		4,800
Accrued expenses and other liabilities	0		0		$ 4,823
North America Telecom [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable					670
Prepaid expenses and other current assets					839
Long-lived assets and other non-current assets					4,820
Assets held for sale					6,329
Accounts payable					869
Accrued interconnection costs					420
Accrued expenses and other liabilities					3,534
Liabilities held for sale					$ 4,823
BLACKIRON Data [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue	971	17,789	7,439	128,988
Operating expenses	1,045	15,620	7,387	115,947
Income from operations	(74)	2,169	52	13,041
Interest expense	(14)	(2,848)	(17)	(11,357)
Gain (loss) on early extinguishment or restructuring of debt	0	(21,178)	0	(21,178)
Interest income and other income (expense)	(9)	(70)	(60)	(24)
Foreign currency transaction loss	0	(37)	0	(376)
Income (loss) before income tax	(97)	(21,964)	(25)	(19,894)
Income tax (expense)	(9)	474	(37)	176
Income from discontinued operations	$ (106)	$ (21,490)	$ (62)	$ (19,718)

Discontinued Operations - Sum83

Discontinued Operations - Summarized Operating Results of Discontinued Operations and Assets and Liabilities Classified as Held for Sale Additional Information (Detail) $ in Millions	Dec. 31, 2013USD ($)
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 (Los84

Basic and Diluted Income (Loss) Per Common Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]
Dilutive common share equivalents, shares	0		0
Dilutive securities included in computation of earnings per share, Stock Options and RSUs		200,000		200,000
Dilutive securities included in computation of earnings per share, Warrants		1,100,000		1,000,000

Basic and Diluted Income (Los85

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		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]
Income (loss) from continuing operations attributable to HC2 Holdings, Inc.	$ (18,957)	$ (865)	$ (27,273)	$ (3,536)
Income (loss) from discontinued operations	(106)	(21,490)	(62)	(19,718)
Gain (loss) from sale of discontinued operations	663	15,650	(121)	150,695
Net income (loss)—basic	(18,400)	(6,705)	(27,456)	127,441
Net income (loss)—diluted	$ (18,400)	$ (6,705)	$ (27,456)	$ 127,441
Weighted average common shares outstanding-basic (in shares)	23,372	14,077	18,348	13,987
Weighted average common shares outstanding-diluted (in shares)	23,372	14,077	18,348	13,987
Basic income (loss) per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	$ (0.82)	$ (0.06)	$ (1.49)	$ (0.25)
Income (loss) from discontinued operations (in USD per share)	0	(1.53)	0	(1.41)
Gain (loss) from sale of discontinued operations (in USD per share)	0.03	1.11	(0.01)	10.77
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	(0.79)	(0.48)	(1.50)	9.11
Diluted income (loss) per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in USD per share)	(0.82)	(0.06)	(1.49)	(0.25)
Income (loss) from discontinued operations (in USD per share)	0	(1.53)	0	(1.41)
Gain (loss) from sale of discontinued operations (in USD per share)	0.03	1.11	(0.01)	10.77
NET INCOME (LOSS) ATTRIBUTABLE TO HC2 HOLDINGS, INC. (in USD per share)	$ (0.79)	$ (0.48)	$ (1.50)	$ 9.11

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)

May. 29, 2014

Oct. 31, 2014

May. 31, 2014

Sep. 30, 2014

Nov. 03, 2014

Oct. 29, 2014

Oct. 28, 2014

Oct. 21, 2014

Sep. 26, 2014

Sep. 22, 2014

Jun. 30, 2014

Dec. 31, 2013

Subsequent Event [Line Items]

Issuance of common stock, shares

23,689,816

14,257,545

Aggregate principal amount proposed to offer

$ 214,000,000

Philip Falcone [Member]

Subsequent Event [Line Items]

Options granted, shares

1,568,864

3,350,946

Schuff [Member]

Subsequent Event [Line Items]

Number of shares acquired

198,411

Percentage of ownership interest acquired

65.00%

70.00%

Issuance of common stock, shares

1,500,000

Aggregate principal amount proposed to offer

$ 15,000,000

Subsequent Event [Member] | Secured Secured Debt [Member]

Subsequent Event [Line Items]

Aggregate principal amount proposed to offer

$ 250,000,000

Subsequent Event [Member] | Philip Falcone [Member]

Subsequent Event [Line Items]

Anti-dilutive adjustment options exercisable, shares

1,782,082

Subsequent Event [Member] | Schuff [Member]

Subsequent Event [Line Items]

Number of shares acquired

733,634

Percentage of ownership interest acquired

89.00%

90.60%

Aggregate principal amount proposed to offer

$ 15,000,000

Subsequent Event [Member] | Schuff [Member] | Open-market Transaction [Member]

Subsequent Event [Line Items]

Percentage of ownership interest acquired

90.60%

Subsequent Event [Member] | Schuff [Member] | Short-form Merger [Member]

Subsequent Event [Line Items]

Percentage of ownership interest acquired

100.00%