Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 | Nov. 17, 2014 | Jun. 30, 2013 |
Document Documentand Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' |
Entity Public Float | ' | ' | $708.70 |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'HRG | ' | ' |
Entity Registrant Name | 'HARBINGER GROUP INC. | ' | ' |
Entity Central Index Key | '0000109177 | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 201,005,504 | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Investments (Note 5): | ' | ' |
Fixed maturities | $17,211.50 | $15,300 |
Equity securities | 768.1 | 352.5 |
Derivatives | 296.3 | 221.8 |
Asset-based loans | 811.6 | 560.4 |
Other invested assets | 165 | 31.2 |
Total investments | 19,252.50 | 16,465.90 |
Cash and cash equivalents | 1,319.20 | 1,899.70 |
Receivables, net (Note 10) | 585.1 | 611.3 |
Inventories, net (Note 11) | 635.2 | 632.9 |
Accrued investment income | 184.9 | 161.2 |
Reinsurance recoverable (Note 19) | 2,397.60 | 2,363.70 |
Deferred tax assets (Note 21) | 186.7 | 293.4 |
Properties, including oil and natural gas properties, net (Note 12) | 908.6 | 993.3 |
Goodwill (Note 13) | 1,524.80 | 1,476.70 |
Intangibles, including DAC and VOBA, net (Note 13) | 2,683.70 | 2,729.10 |
Other assets | 421.9 | 281.6 |
Total assets | 30,100.20 | 27,908.80 |
Insurance reserves: | ' | ' |
Contractholder funds | 16,463.50 | 15,248.20 |
Future policy benefits | 3,655.50 | 3,556.80 |
Liability for policy and contract claims | 58.1 | 51.5 |
Funds withheld from reinsurers | 38 | 39.4 |
Total insurance reserves | 20,215.10 | 18,895.90 |
Debt (Note 15) | 5,157.80 | 4,896.10 |
Accounts payable and other current liabilities (Note 14) | 1,033 | 1,012.70 |
Equity conversion feature of preferred stock (Note 6 and Note 16) | ' | 330.8 |
Employee benefit obligations (Note 18) | 86.2 | 99.6 |
Deferred tax liabilities (Note 21) | 533.3 | 492.8 |
Other liabilities | 817.8 | 718 |
Total liabilities | 27,843.20 | 26,445.90 |
Commitments and contingencies (Note 24) | ' | ' |
Temporary equity (Note 16) : | ' | ' |
Redeemable preferred stock, $0.01 par; 10,000.0 thousand preferred shares authorized; 1 share and 394.2 thousand shares outstanding with aggregate liquidation preference of $0 and $617.1 at September 30, 2014 and 2013, respectively, and other temporary equity. | ' | 329.4 |
Common stock, $0.01 par; 500,000.0 thousand shares authorized; 202,295.6 thousand and 142,381.1 thousand shares issued and outstanding at September 30, 2014 and 2013, respectively. | 2 | 1.4 |
Additional paid-in capital | 1,472.30 | 828 |
Accumulated deficit | -276.3 | -192.4 |
Accumulated other comprehensive income | 243.6 | 87.7 |
Total Harbinger Group Inc. stockholders' equity | 1,441.60 | 724.7 |
Noncontrolling interest | 815.4 | 408.8 |
Total permanent equity | 2,257 | 1,133.50 |
Total liabilities and equity | $30,100.20 | $27,908.80 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $) | Sep. 30, 2014 | Sep. 30, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, par value (in dollars per share) | $0.01 | ' |
Preferred stock, shares authorized | 10,000,000 | ' |
Preferred stock, shares outstanding | 0 | 394,300 |
Aggregate liquidation preference | $0 | $617.10 |
Common Stock, Par or Stated Value Per Share | $0.01 | ' |
Common stock, shares authorized | 500,000,000 | ' |
Common stock, shares issued | 202,295,600 | 142,381,100 |
Common stock, shares outstanding | 202,295,600 | 142,381,100 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net consumer and other product sales | ' | ' | ' | ' | ' | ' | ' | ' | $4,449.20 | $4,085.60 | $3,252.40 |
Oil and natural gas | ' | ' | ' | ' | ' | ' | ' | ' | 147 | 90.2 | ' |
Insurance premiums | ' | ' | ' | ' | ' | ' | ' | ' | 56.6 | 58.8 | 55.3 |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | 842.2 | 734.7 | 722.7 |
Net investment gains | ' | ' | ' | ' | ' | ' | ' | ' | 395.3 | 511.6 | 410 |
Insurance and investment product fees and other | ' | ' | ' | ' | ' | ' | ' | ' | 72.7 | 62.5 | 40.3 |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 5,963 | 5,543.40 | 4,480.70 |
Operating costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of consumer products and other goods sold | ' | ' | ' | ' | ' | ' | ' | ' | 2,875.60 | 2,695.30 | 2,136.80 |
Oil and natural gas direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | 69.6 | 44 | ' |
Benefits and other changes in policy reserves | ' | ' | ' | ' | ' | ' | ' | ' | 852.7 | 531.8 | 777.4 |
Selling, acquisition, operating and general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1,335.40 | 1,220.50 | 932.7 |
Unamortized Costs Capitalized Less Related Deferred Income Taxes Exceed Ceiling Limitations, Expense | ' | ' | ' | ' | ' | ' | ' | ' | 81 | ' | ' |
Impairment of oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | 81 | 54.3 | 0 |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | 179.2 | 260.1 | 224.3 |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 5,393.50 | 4,806 | 4,071.20 |
Operating income | 144.9 | 229.1 | 16.2 | 179.3 | 205.4 | 182.6 | 134 | 215.4 | 569.5 | 737.4 | 409.5 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -321.9 | -511.9 | -251 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | -12.7 | -101.6 | -156.6 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | 0 | 41 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -22.2 | -5.6 | -17.5 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 213.2 | 118.3 | 25.4 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 111.5 | 187.3 | -85.3 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 101.7 | -69 | 110.7 |
Less: Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 112 | -23.2 | 21.2 |
Net (loss) income attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -10.3 | -45.8 | 89.5 |
Less: Preferred stock dividends, accretion and loss on conversion | ' | ' | ' | ' | ' | ' | ' | ' | 73.6 | 48.4 | 59.6 |
Net (loss) income attributable to common and participating preferred stockholders | ($6.30) | $49 | ($87.60) | ($39) | ($202.30) | $91.60 | ($45.50) | $62 | ($83.90) | ($94.20) | $29.90 |
Net (loss) income per common share attributable to controlling interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in dollars per share) | ($0.03) | $0.28 | ($0.63) | ($0.28) | ($1.45) | $0.45 | ($0.33) | $0.31 | ($0.51) | ($0.67) | $0.15 |
Earnings Per Share, Diluted | ($0.03) | $0.28 | ($0.63) | ($0.28) | ($1.45) | $0.25 | ($0.33) | $0.03 | ($0.51) | ($0.67) | $0.15 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income (loss) | $101.70 | ($69) | $110.70 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation losses | -32.5 | -6.6 | -8.6 |
Net unrealized gain (loss) on derivative instruments | ' | ' | ' |
Changes in derivative instruments before reclassification adjustment | 13.1 | -2 | -1.8 |
Net reclassification adjustment for losses (gains) included in net income | 2.6 | -0.9 | 3.1 |
Changes in derivative instruments after reclassification adjustment | 15.7 | -2.9 | 1.3 |
Changes in deferred income tax asset/liability | -4.2 | -0.2 | -0.7 |
Deferred tax valuation allowance adjustments | ' | 0.6 | 0.9 |
Net unrealized gain (loss) on derivative instruments | 11.5 | -2.5 | 1.5 |
Actuarial adjustments to pension plans | ' | ' | ' |
Changes in actuarial adjustments before reclassification adjustment | -8.7 | 9.6 | -15.4 |
Net reclassification adjustment for losses included in cost of goods sold | 0.6 | 1.6 | 0.9 |
Net reclassification adjustment for gains included in selling and general and administrative expenses | 0.8 | -0.2 | ' |
Changes in actuarial adjustments to pension plans | -7.3 | 11 | -14.5 |
Changes in deferred income tax asset/liability | 2.2 | -5.1 | 3.6 |
Deferred tax valuation allowance adjustments | -0.6 | -0.1 | -0.8 |
Net actuarial adjustments to pension plans | -5.7 | 5.8 | -11.7 |
Unrealized investment gains (losses): | ' | ' | ' |
Changes in unrealized investment gains (losses) before reclassification adjustment | 627.5 | -490.5 | 906.5 |
Net reclassification adjustment for gains included in net income | -101 | -333.4 | -263.9 |
Changes in unrealized investment gains (losses) after reclassification adjustment | 526.5 | -823.9 | 642.6 |
Adjustments to intangible assets | -156.8 | 327.3 | -218.5 |
Changes in deferred income tax asset/liability | -129 | 173.1 | -148.5 |
Net unrealized gain (loss) on investments | 240.7 | -323.5 | 275.6 |
Non-credit related other-than-temporary impairment: | ' | ' | ' |
Changes in non-credit related other-than-temporary impairment | ' | ' | -1.5 |
Adjustments to intangible assets | ' | ' | 0.6 |
Changes in deferred income tax asset/liability | ' | ' | 0.3 |
Net change to derive comprehensive income (loss) for the period | ' | ' | -0.6 |
Net change to derive comprehensive income (loss) for the period | 214 | -326.8 | 256.2 |
Comprehensive income (loss) | 315.7 | -395.8 | 366.9 |
Less: Comprehensive income (loss) attributable to the noncontrolling interest: | ' | ' | ' |
Net income (loss) | 112 | -23.2 | 21.2 |
Other comprehensive income (loss) | 32.6 | -2.2 | -8.6 |
Total comprehensive income (loss) | 144.6 | -25.4 | 12.6 |
Comprehensive income (loss) attributable to the controlling interest | $171.10 | ($370.40) | $354.30 |
CONSOLIDATED_STATEMENTS_OF_PER
CONSOLIDATED STATEMENTS OF PERMANENT EQUITY (USD $) | Total | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income | Total Stockholdersb Equity | Noncontrolling Interest | FGL | FGL | FGL | FGL | FGL | FGL | FGL |
In Millions, except Share data, unless otherwise specified | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income | Total Stockholdersb Equity | Noncontrolling Interest | ||||||||
Permanent equity, beginning balance at Sep. 30, 2011 | $1,373 | $1.40 | $872.70 | ($128.10) | $149.40 | $895.40 | $477.60 | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued, beginning balance at Sep. 30, 2011 | ' | 139,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 110.7 | ' | ' | 89.5 | ' | 89.5 | 21.2 | ' | ' | ' | ' | ' | ' | ' |
Unrealized investment gains, net | 275.6 | ' | ' | ' | 275.6 | 275.6 | ' | ' | ' | ' | ' | ' | ' | ' |
Non-credit related other-than-temporary impairments | -0.6 | ' | ' | ' | -0.6 | -0.6 | ' | ' | ' | ' | ' | ' | ' | ' |
Other unrealized gains | 1.5 | ' | ' | ' | 0.8 | 0.8 | 0.7 | ' | ' | ' | ' | ' | ' | ' |
Actuarial adjustments to pension plans | -11.7 | ' | ' | ' | -6.6 | -6.6 | -5.1 | ' | ' | ' | ' | ' | ' | ' |
Translation adjustment | -8.6 | ' | ' | ' | -4.4 | -4.4 | -4.2 | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income (loss) | 366.9 | ' | ' | ' | ' | 354.3 | 12.6 | ' | ' | ' | ' | ' | ' | ' |
Issuance (purchase) of subsidiary stock | -85 | ' | -26 | ' | -1 | -27 | -58 | ' | ' | ' | ' | ' | ' | ' |
Stock compensation, shares | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation | 31.2 | ' | 16.6 | ' | ' | 16.6 | 14.6 | ' | ' | ' | ' | ' | ' | ' |
Restricted stock surrendered for tax withholding | -4 | ' | -2.1 | ' | ' | -2.1 | -1.9 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock dividends and accretion | -59.6 | ' | ' | -59.6 | ' | -59.6 | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend paid by subsidiary to NCI | -23.6 | ' | ' | ' | ' | ' | -23.6 | ' | ' | ' | ' | ' | ' | ' |
Permanent equity, ending balance at Sep. 30, 2012 | 1,598.90 | 1.4 | 861.2 | -98.2 | 413.2 | 1,177.60 | 421.3 | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued, ending balance at Sep. 30, 2012 | 142,381,100 | 140,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | -69 | ' | ' | -45.8 | ' | -45.8 | -23.2 | ' | ' | ' | ' | ' | ' | ' |
Unrealized investment gains, net | -323.5 | ' | ' | ' | -323.5 | -323.5 | ' | ' | ' | ' | ' | ' | ' | ' |
Non-credit related other-than-temporary impairments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other unrealized gains | -2.5 | ' | ' | ' | -1.5 | -1.5 | -1 | ' | ' | ' | ' | ' | ' | ' |
Actuarial adjustments to pension plans | 5.8 | ' | ' | ' | 4.1 | 4.1 | 1.7 | ' | ' | ' | ' | ' | ' | ' |
Translation adjustment | -6.6 | ' | ' | ' | -3.7 | -3.7 | -2.9 | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income (loss) | -395.8 | ' | ' | ' | ' | -370.4 | -25.4 | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock, shares | ' | -1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock, value | -12.3 | ' | -12.3 | ' | ' | -12.3 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance (purchase) of subsidiary stock | -77.1 | ' | -58.8 | ' | -0.9 | -59.7 | -17.4 | ' | ' | ' | ' | ' | ' | ' |
Stock compensation, shares | ' | 3,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation | 57.6 | ' | 44.5 | ' | ' | 44.5 | 13.1 | ' | ' | ' | ' | ' | ' | ' |
Restricted stock surrendered for tax withholding | -22.3 | ' | -13.8 | ' | ' | -13.8 | -8.5 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock dividends and accretion | -48.4 | ' | ' | -48.4 | ' | -48.4 | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of preferred stock, shares | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of preferred stock, value | 7.2 | ' | 7.2 | ' | ' | 7.2 | ' | ' | ' | ' | ' | ' | ' | ' |
NCI in acquired subsidiary | 43 | ' | ' | ' | ' | ' | 43 | ' | ' | ' | ' | ' | ' | ' |
Dividend paid by subsidiary to NCI | -17.3 | ' | ' | ' | ' | ' | -17.3 | ' | ' | ' | ' | ' | ' | ' |
Permanent equity, ending balance at Sep. 30, 2013 | 1,133.50 | 1.4 | 828 | -192.4 | 87.7 | 724.7 | 408.8 | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued, ending balance at Sep. 30, 2013 | ' | 142,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 101.7 | ' | ' | -10.3 | ' | -10.3 | 112 | ' | ' | ' | ' | ' | ' | ' |
Unrealized investment gains, net | 240.7 | ' | ' | ' | 197.7 | 197.7 | 43 | ' | ' | ' | ' | ' | ' | ' |
Non-credit related other-than-temporary impairments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other unrealized gains | 11.5 | ' | ' | ' | 6.8 | 6.8 | 4.7 | ' | ' | ' | ' | ' | ' | ' |
Actuarial adjustments to pension plans | -5.7 | ' | ' | ' | -4 | -4 | -1.7 | ' | ' | ' | ' | ' | ' | ' |
Translation adjustment | -32.5 | ' | ' | ' | -19.1 | -19.1 | -13.4 | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income (loss) | 315.7 | ' | ' | ' | ' | 171.1 | 144.6 | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock, shares | ' | -5,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock, value | -65.6 | -0.1 | -65.5 | ' | ' | -65.6 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, New Issues | ' | ' | ' | ' | ' | ' | ' | 172.6 | 0 | -58.5 | 0 | -25.5 | -84 | 256.6 |
Issuance (purchase) of subsidiary stock | -8.3 | ' | -11.1 | ' | ' | -11.1 | 2.8 | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options, value | 2.8 | ' | 2.8 | ' | ' | 2.8 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation, shares | ' | 3,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation | 93 | 0.1 | 72.3 | ' | ' | 72.4 | 20.6 | ' | ' | ' | ' | ' | ' | ' |
Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Redeemed During Period Shares | ' | -100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock surrendered for tax withholding | -31.5 | ' | -21.1 | ' | ' | -21.1 | -10.4 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock dividends and accretion | -73.6 | ' | ' | -73.6 | ' | -73.6 | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of preferred stock, shares | ' | 62,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of preferred stock, value | 726 | 0.6 | 725.4 | ' | ' | 726 | ' | ' | ' | ' | ' | ' | ' | ' |
NCI in acquired subsidiary | 20.7 | ' | ' | ' | ' | ' | 20.7 | ' | ' | ' | ' | ' | ' | ' |
Dividend paid by subsidiary to NCI | -28.3 | ' | ' | ' | ' | ' | -28.3 | ' | ' | ' | ' | ' | ' | ' |
Permanent equity, ending balance at Sep. 30, 2014 | $2,257 | $2 | $1,472.30 | ($276.30) | $243.60 | $1,441.60 | $815.40 | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued, ending balance at Sep. 30, 2014 | 202,295,600 | 202,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | $101,700,000 | ($69,000,000) | $110,700,000 |
Adjustments to reconcile net income (loss) to operating cash flows: | ' | ' | ' |
Depreciation of properties | 123,400,000 | 98,600,000 | 44,000,000 |
Amortization of intangibles | 179,200,000 | 260,100,000 | 224,300,000 |
Unamortized Costs Capitalized Less Related Deferred Income Taxes Exceed Ceiling Limitations, Expense | 81,000,000 | ' | ' |
Impairment of oil and natural gas properties | 81,000,000 | 54,300,000 | 0 |
Stock compensation | 91,100,000 | 61,500,000 | 31,200,000 |
Amortization of debt issuance costs | 21,000,000 | 18,100,000 | 12,800,000 |
Amortization of debt discount | 4,600,000 | 3,000,000 | 1,300,000 |
Write-off of debt issuance costs on retired debt | 6,400,000 | 32,400,000 | 2,900,000 |
Write-off of debt discount on retired debt | 2,800,000 | -3,100,000 | -500,000 |
Deferred income taxes | -5,500,000 | 170,700,000 | -197,400,000 |
Gain on contingent purchase price reduction | -500,000 | ' | -41,000,000 |
Cost of trading securities acquired for resale | ' | ' | -643,800,000 |
Proceeds from trading securities sold | ' | ' | 766,100,000 |
Interest credited/index credits to contractholder account balances | 711,600,000 | 375,000,000 | 586,800,000 |
Collateral received (paid) | 63,500,000 | 72,000,000 | 49,300,000 |
Amortization of fixed maturity discounts and premiums | -43,000,000 | 16,700,000 | 86,900,000 |
Net recognized (gains) losses on investments and derivatives | -365,500,000 | -411,800,000 | -231,900,000 |
Charges assessed to contractholders for mortality and administration | -45,800,000 | -31,500,000 | -14,900,000 |
Deferred policy acquisition costs | -239,000,000 | -147,400,000 | -194,900,000 |
Cash transferred to reinsurer | ' | ' | -176,800,000 |
Non-cash increase to cost of goods sold due to the sale of HHI Business acquisition inventory | ' | 31,000,000 | ' |
Non-cash restructuring and related charges | 9,200,000 | ' | 5,200,000 |
Changes in operating assets and liabilities: | -88,300,000 | -8,300,000 | 202,200,000 |
Net change in cash due to operating activities | 607,900,000 | 522,300,000 | 622,500,000 |
Cash flows from investing activities: | ' | ' | ' |
Proceeds from investments sold, matured or repaid | 5,609,200,000 | 9,432,200,000 | 6,206,700,000 |
Cost of investments acquired | -7,221,400,000 | -8,940,800,000 | -5,972,700,000 |
Acquisitions, net of cash acquired | -27,200,000 | -2,014,800,000 | -185,100,000 |
Asset-based loans originated, net | -190,600,000 | -386,600,000 | -181,500,000 |
Capital expenditures | -98,200,000 | -100,100,000 | -53,500,000 |
Proceeds from Sale of Productive Assets | 9,400,000 | 0 | ' |
Other investing activities, net | -1,800,000 | -700,000 | 500,000 |
Net change in cash due to investing activities | -1,920,600,000 | -2,010,800,000 | -185,600,000 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from issuance of new debt | 941,600,000 | 4,444,000,000 | 517,000,000 |
Repayment of debt, including tender and call premiums | -770,900,000 | -1,608,500,000 | -524,600,000 |
Revolving credit facility activity | -27,500,000 | -299,900,000 | 400,000 |
Debt issuance costs | -19,300,000 | -100,400,000 | -11,200,000 |
Purchases of subsidiary stock, net | -9,300,000 | -77,100,000 | -85,000,000 |
Contractholder account deposits | 2,387,900,000 | 1,361,800,000 | 2,040,500,000 |
Contractholder account withdrawals | -1,783,500,000 | -1,712,500,000 | -1,979,600,000 |
Dividend paid by subsidiary to noncontrolling interest | -28,300,000 | -17,400,000 | -31,700,000 |
Dividends paid on preferred stock | -28,600,000 | -33,400,000 | -23,600,000 |
Share based award tax withholding payments | -31,500,000 | -22,300,000 | -3,900,000 |
Common stock repurchased | -65,600,000 | -12,300,000 | ' |
Proceeds from Issuance Initial Public Offering | 172,600,000 | ' | ' |
Other financing activities, net | 2,800,000 | ' | -1,000,000 |
Net change in cash due to financing activities | 740,400,000 | 1,922,000,000 | -102,700,000 |
Effect of exchange rate changes on cash and cash equivalents | -8,200,000 | -4,500,000 | -900,000 |
Net change in cash and cash equivalents | -580,500,000 | 429,000,000 | 333,300,000 |
Cash and cash equivalents at beginning of period | 1,899,700,000 | 1,470,700,000 | 1,137,400,000 |
Cash and cash equivalents at end of period | 1,319,200,000 | 1,899,700,000 | 1,470,700,000 |
Supplemental disclosure of cash flow information: | ' | ' | ' |
Cash paid for interest | 305,200,000 | 450,400,000 | 238,600,000 |
Cash paid for taxes, net | 114,600,000 | 53,400,000 | 47,200,000 |
HGI | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | -10,300,000 | -45,800,000 | 89,500,000 |
Adjustments to reconcile net income (loss) to operating cash flows: | ' | ' | ' |
Stock compensation | 27,000,000 | 11,700,000 | 1,900,000 |
Amortization of debt issuance costs | 3,500,000 | 2,700,000 | 2,900,000 |
Amortization of debt discount | 1,500,000 | 500,000 | 600,000 |
Write-off of debt issuance costs on retired debt | 0 | 10,800,000 | 0 |
Write-off of debt discount on retired debt | 0 | 2,100,000 | 0 |
Gain on contingent purchase price reduction | -500,000 | ' | ' |
Net change in cash due to operating activities | -12,800,000 | 10,200,000 | -9,200,000 |
Cash flows from investing activities: | ' | ' | ' |
Proceeds from investments sold, matured or repaid | 0 | 34,000,000 | 108,900,000 |
Cost of investments acquired | 0 | 0 | -68,000,000 |
Capital expenditures | -300,000 | -400,000 | 0 |
Net change in cash due to investing activities | -115,800,000 | -294,000,000 | 141,900,000 |
Cash flows from financing activities: | ' | ' | ' |
Dividends paid on preferred stock | -28,600,000 | -33,400,000 | -31,700,000 |
Share based award tax withholding payments | -6,500,000 | -2,300,000 | ' |
Common stock repurchased | -65,600,000 | -12,300,000 | ' |
Other financing activities, net | 2,800,000 | 0 | 0 |
Net change in cash due to financing activities | 291,700,000 | 304,900,000 | -31,700,000 |
Net change in cash and cash equivalents | 163,100,000 | 21,100,000 | 101,000,000 |
Cash and cash equivalents at beginning of period | 256,900,000 | 235,800,000 | 134,800,000 |
Cash and cash equivalents at end of period | $420,000,000 | $256,900,000 | $235,800,000 |
Basis_of_Preparation_and_Natur
Basis of Preparation and Nature of Operations | 12 Months Ended |
Sep. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Preparation and Nature of Operations | ' |
Basis of Preparation and Nature of Operations | |
Harbinger Group Inc. (“HGI” and, collectively with its respective subsidiaries, the “Company”) is a diversified holding company. HGI is focused on obtaining controlling equity stakes in companies that operate across a diversified set of industries and growing acquired businesses. In addition to acquiring controlling interests, HGI may make investments in debt instruments, acquire minority equity interests in companies and expand its operating businesses. HGI’s shares of common stock trade on the New York Stock Exchange (“NYSE”) under the symbol “HRG.” | |
HGI’s principal operations are conducted through subsidiaries that offer life insurance and annuity products (Fidelity & Guaranty Life, “FGL”, formerly Harbinger F&G LLC), reinsurance (Front Street Re (Delaware) Ltd., “Front Street”), financing and asset management (Salus Capital Partners, LLC, “Salus”, Five Island Asset Management, LLC, “FIAM”, which holds our interests in FIAM Capital Management, LLC (“Five Island”), Energy & Infrastructure Capital (“EIC”) and CorAmerica Capital, LLC ("CorAmerica")), branded consumer products (Spectrum Brands Holdings, Inc., “Spectrum Brands”) such as batteries, small appliances, pet supplies, home and garden control products, personal care products and hardware and home improvement products. HGI also holds oil and natural gas properties through an equity investment in a joint venture (Compass Production GP, LLC and Compass Production Partners, LP, collectively, and together with their respective subsidiaries, "Compass", and formerly referred to as the "EXCO/HGI JV") through our wholly-owned subsidiary, HGI Energy Holdings, LLC (“HGI Energy”). HGI also owns 97.9% of Zap.Com Corporation (“Zap.Com”), a public shell company that may seek assets or businesses to acquire or may sell assets and/or liquidate. While HGI searches for additional acquisition opportunities, the Company manages a portion of its available cash and acquire interests in possible acquisition targets through its wholly-owned subsidiary, HGI Funding, LLC ("HGI Funding"). | |
In December 2012 and January 2013, the Company closed a secondary offering, in which Harbinger Capital Partners Master Fund I, Ltd. (the “Master Fund”), Global Opportunities Breakaway Ltd. and Harbinger Capital Partners Special Situations Fund, L.P. (together, the “HCP Stockholders”) offered a total of 23.0 million shares of common stock at a price to the public of $7.50 per share. The Company did not receive any proceeds from the sale of shares in this offering. | |
In December 2012, the Company issued $700.0 aggregate principal amount 7.875% senior secured notes due 2019 (the “7.875% Notes”) and used part of the proceeds of the offering to accept for purchase $498.0 aggregate principal amount of its 10.625% Senior Secured Notes due 2015 (the “10.625% Notes”) pursuant to a tender offer (the “Tender Offer”) for the 10.625% Notes. Additionally, the Company deposited sufficient funds in trust with the trustee under the indenture governing the 10.625% Notes in satisfaction and discharge of the remaining $2.0 aggregate principal amount of the 10.625% Notes. The remainder of the proceeds were used for working capital by the Company and its subsidiaries and for general corporate purposes, including the financing of future acquisitions and businesses. | |
In December 2012, Spectrum Brands acquired the residential hardware and home improvement business (the “HHI Business”) from Stanley Black & Decker, Inc. (“Stanley Black & Decker”), (the “Hardware Acquisition”). The HHI Business has a broad portfolio of recognized brand names, including Kwikset, Weiser, Baldwin, National Hardware, Stanley, FANAL and Pfister, as well as patented technologies such as Smartkey, a rekeyable lockset technology, and Smart Code Home Connect. On April 8, 2013, the Company completed the final piece of the Hardware Acquisition, which included the acquisition of certain assets of Tong Lung Metal Industry Co. Ltd., a Taiwan Corporation (“TLM Taiwan”), which is involved in the production of residential locksets. For information pertaining to the Hardware Acquisition, see Note 4, Acquisitions. | |
Also in December 2012, Spectrum Brands Escrow Corp. issued $520.0 aggregate principal amount of 6.375% senior notes due 2020 (the “6.375% Notes”) and $570.0 aggregate principal amount of 6.625% senior notes due 2022 (the “6.625% Notes”). The 6.375% Notes and the 6.625% Notes were assumed by Spectrum Brands Inc., in connection with the Hardware Acquisition. Spectrum Brands used the net proceeds from the offering to fund a portion of the purchase price and related fees and expenses for the Hardware Acquisition. Spectrum Brands financed the remaining portion of the Hardware Acquisition with a new $800.0 facility, of which $100.0 is in Canadian dollar equivalents (the “Term Loan”). A portion of the Term Loan proceeds were also used to refinance the former term loan facility, maturing June 17, 2016, which had an aggregate amount outstanding of $370.2 prior to refinancing. See Note 15, Debt and Note 4, Acquisitions. | |
In December 2012, FGL entered into a coinsurance agreement (the “Reinsurance Agreement”) with Front Street Re (Cayman) Ltd. (“Front Street Cayman”), also an indirect subsidiary of the Company. Pursuant to the Reinsurance Agreement, Front Street Cayman reinsures approximately 10%, or approximately $1,500.0 of FGL’s policy liabilities, on a funds-withheld basis. In connection with the Reinsurance Agreement, Front Street Cayman, FGL and an indirect subsidiary of the Company, Five Island, also entered into an investment management agreement, pursuant to which Five Island manages a portion of the assets securing Front Street Cayman’s reinsurance obligations under the Reinsurance Agreement, which assets are held by FGL in a segregated account. The assets in the segregated account are invested in accordance with FGL’s investment guidelines. | |
In February 2013, HGI finalized an agreement with with EXCO Resources, Inc. (“EXCO”) to create a private oil and natural gas joint venture, Compass, through the Company’s wholly-owned subsidiary HGI Energy. In connection with its formation, Compass entered into a credit agreement which had an initial borrowing base of $400.0, maturing on February 14, 2018 (the “Compass Credit Agreement”). In March 2013, Compass acquired all of the shallow Cotton Valley assets from an affiliate of BG Group plc (“BG Group”) for $130.7, funded with borrowings from the Compass Credit Agreement. | |
Also in February 2013, Salus announced the closing of Salus CLO 2012-1, Ltd., a collateralized loan obligation (“CLO”) vehicle providing for the issuance of up to $250.0 in collateralized obligations, initially funded with $175.5 of the asset-based loans that Salus had originated through that date. In September 2013, $25.0 of this issuance was redeemed when Salus announced the closing of an additional $325.0 note issuance by the CLO, bringing the aggregate amount of notes issued by the CLO to $550.0. In connection with this transaction, Salus and its affiliates committed and funded the CLO with an additional $166.9 and $136.5, respectively. See Note 7, Securitizations and Variable Interest Entities. | |
In March 2013, FGL issued $300.0 aggregate principal amount of 6.375% senior notes due April 1, 2021, at par. FGL used a portion of the net proceeds from the issuance to pay a dividend to HGI and expects to use the remainder for general corporate purposes, to support the growth of its subsidiary life insurance company. See Note 15, Debt. | |
In July 2013, HGI issued $225.0 aggregate principal amount of 7.875% senior secured notes due 2019 (the “New 7.875% Notes”, and together with the 7.875% Notes, the “Senior Secured Notes”) at 101.5% of par plus accrued interest from July 15, 2013. See Note 15, Debt. | |
In September 2013, Spectrum Brands, announced that it had closed on $1,150.0 of term loans (the “New Term Loans”) pursuant to the New Term Loan Commitment Agreement No. 1 among Spectrum Brands, the lenders party thereto, and Deutsche Bank AG New York Branch, as administrative agent (the “Term Administrative Agent”). The proceeds of the New Term Loans were used (i) to fund the consummation of Spectrum Brands cash tender offer and consent solicitation (the “Tender Offer and Consent Solicitation”) to purchase any and all of its outstanding 9.5% senior secured notes due 2018 (the “9.5% Notes”), (ii) to fund the satisfaction and discharge of the indenture governing the 9.5% Notes not tendered in the Tender Offer and Consent Solicitation and (iii) for working capital and general corporate purposes. | |
In December 2013, FGL, a then wholly-owned subsidiary of HGI, announced an initial public offering of 9.8 million shares of common stock at a price to the public of $17.00 per share. The shares began trading on the NYSE on December 13, 2013 under the ticker symbol "FGL". FGL also granted the underwriters an option to purchase an additional 1.5 million shares of common stock that was subsequently exercised. HGI was not a selling shareholder in the offering. Subsequent to the offering HGI held 47.0 million shares of FGL's outstanding common stock, representing an 80.4% interest as of September 30, 2014. | |
Also in December 2013, Front Street Re (Cayman) Ltd. ("Front Street Cayman"), a wholly-owned subsidiary of HGI, closed a reinsurance treaty with Bankers Life Insurance Company. Under the terms of the treaty, Bankers Life Insurance Company ceded approximately $153.0 of its annuity business to Front Street Cayman on a funds withheld basis. | |
Furthermore in December 2013, Spectrum Brands amended a senior secured term loan, issuing two tranches maturing September 4, 2019 which provide for borrowings in aggregate principal amounts of $215.0 and €225.0. The proceeds from the amendment were used to refinance a portion of the term loan which was scheduled to mature December 17, 2019 and had an aggregate amount outstanding of $513.3 prior to refinancing. | |
In January 2014, Spectrum Brands completed the $35.8 acquisition of The Liquid Fence Company, Inc. ("Liquid Fence"), a producer of animal repellents. See Note 4, Acquisitions. | |
Also in January 2014, HGI issued $200.0 aggregate principal amount of 7.75% senior unsecured notes due 2022 at par (the "7.75% Notes"). See Note 15, Debt. | |
In May 2014, HGI exercised its option to convert all but one of its issued and outstanding shares of Series A Participating Convertible Preferred Stock (“Series A Preferred Shares") and all of its outstanding Series A-2 Participating Convertible Preferred Stock (“Series A-2 Preferred Shares", together with the Series A Preferred Shares, the "Preferred Stock") into common stock of the Company, par value $0.01. See Note 16, Temporary Equity. | |
Also in May 2014, HGI exchanged $320.6 of its outstanding Senior Secured Notes for $350.0 aggregate principal amount of new 7.75% senior notes due 2022 (the “Additional 7.75% Notes”). Following settlement, HGI had $604.4 in aggregate principal amount of Senior Secured Notes outstanding and $550.0 in aggregate principal amount of 7.750% senior notes due 2022 outstanding. See Note 15, Debt. | |
In addition, in May 2014, HGI Funding completed the $13.5 acquisition of Frederick's of Hollywood Group Inc. ("FOH"), a retailer of women's apparel and related products. See Note 4, Acquisitions. | |
In August 2014, Fidelity & Guaranty Life Holdings, Inc. (“FGH”), a wholly owned subsidiary of FGL, as borrower, and FGL as guarantor, entered into a three-year $150.0 unsecured revolving credit facility. See Note 15, Debt. | |
In September 2014, HGI issued additional $200.0 aggregate principal amount of 7.75% senior unsecured notes due 2022 at par (the “September 2014 Notes”). See Note 15, Debt. | |
During Fiscal 2014, HGI purchased 5.2 million shares of its outstanding common stock for an aggregate purchase price of $65.6 under the $100.0 repurchase program authorized by HGI's Board of Directors earlier in in May 2014. | |
The Company’s reportable business segments are organized in a manner that reflects how HGI’s management views those business activities. Accordingly, the Company currently operates its business in four reporting segments: (i) Consumer Products, (ii) Insurance, (iii) Energy, and (iv) Asset Management. For the results of operations by segment, and other segment data, see Note 28., Segment and Geographic Data. | |
The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). |
Significant_Accounting_Policie
Significant Accounting Policies and Practices and Recent Accounting Pronouncements | 12 Months Ended | |
Sep. 30, 2014 | ||
Accounting Policies [Abstract] | ' | |
Significant Accounting Policies and Practices and Recent Accounting Pronouncements | ' | |
Significant Accounting Policies and Practices and Recent Accounting Pronouncements | ||
Fiscal Year End | ||
The Company’s fiscal year ends on September 30 and the quarters end on the last calendar day of the months of December, March and June. The Company’s significant subsidiary, Spectrum Brands’ fiscal year ends September 30 and its interim fiscal quarters end every thirteenth Sunday, except for its first fiscal quarter which may end on the fourteenth Sunday following September 30. The Company does not adjust for the difference in fiscal periods between Spectrum Brands and itself, as such difference would be less than 93 days, pursuant to Regulation S-X Rule 3A-02. References herein to Fiscal 2014, 2013 and 2012 refer to the fiscal years ended September 30, 2014, 2013 and 2012, respectively. | ||
Principles of Consolidation | ||
The Consolidated Financial Statements include the accounts of HGI and all other entities in which HGI has a controlling financial interest, those variable interest entities (“VIEs”) where the Company is the primary beneficiary, and its proportionate share of the gross net assets of equity method investments in extractive industries (“Proportionate consolidation”). Intercompany accounts and transactions have been eliminated. Results of operations of acquired companies are included from the dates of acquisition and for VIEs, from the dates that the Company became the primary beneficiary. At September 30, 2014, the non-controlling interest component of total equity represents primarily the 41.3% share of Spectrum Brands and the 19.6% of FGL not owned by HGI. | ||
The Company has elected to account for its investments in extractive industries that it does not control, but over which it can exert significant influence (specifically, Compass), by using the proportionate consolidation method allowed for equity-method investments in extractive industries, under Financial Accounting Standards Board (“FASB”) ASC Topic 932, Extractive Activities. Under this method, the Company consolidates its proportionate share of the assets and liabilities of the equity method investment, using a gross presentation. | ||
A variable interest entity is an entity that lacks equity investors or whose equity investors do not have a controlling financial interest in the entity through their equity investments. The entity that has a controlling financial interest in a VIE is referred to as the primary beneficiary and consolidates the VIE. A corporation is deemed to have a controlling financial interest and is the primary beneficiary of a VIE if it has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. | ||
The Company, through its subsidiary, Salus, primarily uses VIEs for its securitization activities, in which Salus transfers whole loans into a trust or other vehicle such that the assets are legally isolated from the creditors of Salus. Assets held in a trust can only be used to settle obligations of the trust. The creditors of these trusts typically have no recourse to Salus except in accordance with the obligations under standard representations and warranties. When Salus is the servicer of whole loans held in a securitization trust, Salus has the power to direct the most significant activities of the trust. Salus consolidates a whole-loan securitization trust if it has the power to direct the most significant activities and also holds securities issued by the trust or has other contractual arrangements, other than standard representations and warranties, that could potentially be significant to the trust. | ||
Cash Equivalents | ||
The Company considers all highly liquid debt instruments purchased with original maturities of three months or less to be cash equivalents. | ||
Investments | ||
HGI’s investments consist of (1) marketable equity and debt securities classified as trading and carried at fair value with unrealized gains and losses recognized in earnings, including certain securities for which the Company has elected the fair value option under ASC Topic 825, Financial Instruments, which would otherwise have been classified as available-for-sale, (2) U.S. Treasury securities and a certificate of deposit classified as held to maturity and carried at amortized cost, which approximates fair value (3) investments in debt and equity securities have been designated as available-for-sale and are carried at fair value with unrealized gains and losses included in “Accumulated other comprehensive income (loss)” (“AOCI”), net of associated intangibles “shadow adjustments” (discussed in Note 13, Goodwill and Intangibles, including DAC and VOBA, net) and deferred income taxes, and (4) originated asset-based loans that the Company intends to hold in its portfolio and which are stated at the principal amount outstanding, adjusted for unamortized deferred fees and costs as well as discounts and premiums, which are amortized to interest income (included in “Net investment income”) over the expected life of the loan on a straight-line basis. | ||
Available-for-sale Securities—Other-Than-Temporary Impairments | ||
The Company regularly reviews its available-for-sale securities for declines in fair value that the Company determines to be other-than-temporary. For an equity security, if the Company does not have the ability and intent to hold the security for a sufficient period of time to allow for a recovery in value, the Company concludes that an other-than-temporary impairment has occurred and the cost of the equity security is written down to the current fair value, with a corresponding charge to “Net investment gains” in the accompanying Consolidated Statements of Operations. When assessing the Company’s ability and intent to hold an equity security to recovery, the Company considers, among other things, the severity and duration of the decline in fair value of the equity security as well as the cause of the decline, a fundamental analysis of the liquidity, business prospects and the overall financial condition of the issuer. | ||
For the Company’s fixed maturity available-for-sale securities, the Company generally considers the following in determining whether the Company’s unrealized losses are other than temporarily impaired: | ||
• | The estimated range and period until recovery; | |
• | Current delinquencies and nonperforming assets of underlying collateral; | |
• | Expected future default rates; | |
• | Collateral value by vintage, geographic region, industry concentration or property type; | |
• | Subordination levels or other credit enhancements as of the balance sheet date as compared to origination; and | |
• | Contractual and regulatory cash obligations. | |
The Company recognizes other-than-temporary impairments on debt securities (including redeemable and perpetual preferred stock) in an unrealized loss position when one of the following circumstances exists: | ||
• | The Company does not expect full recovery of its amortized cost based on the estimate of cash flows expected to be collected; | |
• | The Company intends to sell a security; or | |
• | It is more likely than not that the Company will be required to sell a security prior to recovery. | |
If the Company intends to sell a debt security or it is more likely than not the Company will be required to sell the security before recovery of its amortized cost basis and the fair value of the security is below amortized cost, the Company will conclude that an other-than-temporary impairment has occurred and the amortized cost is written down to current fair value, with a corresponding charge to “Net investment gains (losses)” in the accompanying Consolidated Statements of Operations. If the Company does not intend to sell a debt security or it is more likely than not the Company will not be required to sell a debt security before recovery of its amortized cost basis and the present value of the cash flows expected to be collected is less than the amortized cost of the security (referred to as the credit loss), an other-than-temporary impairment has occurred and the amortized cost is written down to the estimated recovery value with a corresponding charge to “Net investment gains” in the accompanying Consolidated Statements of Operations, as this amount is deemed the credit loss portion of the other-than-temporary impairment. The remainder of the decline to fair value is recorded in AOCI as unrealized other-than-temporary impairment on available-for-sale securities, as this amount is considered a non-credit (i.e., recoverable) impairment. | ||
When assessing the Company’s intent to sell a debt security or if it is more likely than not the Company will be required to sell a debt security before recovery of its cost basis, the Company evaluates facts and circumstances such as, but not limited to, decisions to reposition the Company’s security portfolio, sale of securities to meet cash flow needs and sales of securities to capitalize on favorable pricing and tax planning strategies. In order to determine the amount of the credit loss for a security, the Company calculates the recovery value by performing a discounted cash flow analysis based on the current cash flows and future cash flows the Company expects to recover. The discount rate is the effective interest rate implicit in the underlying security. The effective interest rate is the original purchased yield or the yield at the date the debt security was previously impaired. | ||
When evaluating redeemable preferred stocks for other-than-temporary impairment, the Company applies the accounting policy described above for debt securities. Additionally, the SEC’s staff in the Office of the Chief Accountant issued a letter (SEC other-than-temporary impairment Release) to the Financial Accounting Standards Board (“FASB”) on October 14, 2008, providing clarifying guidance on how to assess impairments of perpetual preferred securities (“PPS”), including perpetual preferred stock. After consultation with and concurrence of the FASB staff, the SEC staff has concluded that it will not object to an issuer treating a PPS similar to a debt security in an other-than-temporary impairment evaluation (including an anticipated recovery period), provided there has been no evidence of a deterioration in credit of the issuer. Consequently, we apply the other-than-temporary-impairment guidance of debt securities to perpetual preferred stock. | ||
When evaluating mortgage-backed securities and asset-backed securities, the Company considers a number of pool-specific factors as well as market level factors when determining whether or not the impairment on the security is temporary or other-than-temporary. The most important factor is the performance of the underlying collateral in the security and the trends of that performance. The Company uses this information about the collateral to forecast the timing and rate of mortgage loan defaults, including making projections for loans that are already delinquent and for those loans that are currently performing but may become delinquent in the future. Other factors used in this analysis include type of underlying collateral (e.g., prime, Alternative A-paper (“Alt-A”), or subprime), geographic distribution of underlying loans and timing of liquidations by state. Once default rates and timing assumptions are determined, the Company then makes assumptions regarding the severity of a default if it were to occur. Factors that impact the severity assumption include expectations for future home price appreciation or depreciation, loan size, first lien versus second lien, existence of loan level private mortgage insurance, type of occupancy and geographic distribution of loans. Once default and severity assumptions are determined for the security in question, cash flows for the underlying collateral are projected including expected defaults and prepayments. These cash flows on the collateral are then translated to cash flows on the Company’s tranche based on the cash flow waterfall of the entire capital security structure. If this analysis indicates the entire principal on a particular security will not be returned, the security is reviewed for other-than-temporary impairments by comparing the present value of expected cash flows to amortized cost. To the extent that the security has already been impaired or was purchased at a discount, such that the amortized cost of the security is less than or equal to the present value of cash flows expected to be collected, no impairment is required. The Company also considers the ability of monoline insurers to meet their contractual guarantees on wrapped mortgage-backed securities. Otherwise, if the amortized cost of the security is greater than the present value of the cash flows expected to be collected, then an impairment is recognized. | ||
The Company includes on the face of the Consolidated Statements of Operations the total other-than-temporary impairment recognized in net investment gains (losses), with an offset for the amount of non-credit impairments recognized in AOCI. The Company discloses the amount of other-than-temporary impairment recognized in AOCI and other disclosures related to other-than-temporary impairment in Note 5, Investments and the Consolidated Statements of Comprehensive Income. | ||
Asset-based Loans | ||
Allowance for Credit Losses | ||
Originated asset-based loans that are intended to be held in the Company’s portfolio are stated at the principal amount outstanding, adjusted for an allowance for credit losses. The delinquency status is based upon the contractual terms of the loans. At September 30, 2014, the Company has no delinquent loans. The Company generally has a cash dominion provision in its loans whereby all cash generated by its borrowers is swept into a concentration account to pay down each loan on a daily or weekly basis. In instances where the Company believes that it may not be able to collect the entirety of a loan’s principal, interest payments are applied to principal. | ||
The allowance for credit losses represents the Company’s estimate of probable losses inherent in its lending activities and is initially established upon origination of a loan. The allowance for credit losses does not include amounts related to accrued interest receivable, as accrued interest receivable is reversed when a loan is placed on nonaccrual status. The Company regularly evaluates the adequacy of the allowance for credit losses on a combined loan basis. The Company will charge loans off against its allowance for credit losses when it becomes evident that the Company will not fully collect the balance of the loan. The provision for credit losses related to the loan portfolio is charged to “Selling, acquisition, operating and general expenses” in the Consolidated Statements of Operations. | ||
Included in the allowance for credit losses are reserves that are maintained to cover uncertainties that affect the Company’s estimate of probable losses, including domestic and global economic uncertainty and large single name defaults. This collective allowance for credit losses is calculated using loss rates delineated by risk rating and loan type. Factors considered when assessing loss rates include the value of the underlying collateral, if applicable, the industry of the obligor, and the obligor’s liquidity and other financial indicators along with certain qualitative factors. If necessary, a specific allowance is also established for loans if they are deemed to be individually impaired. A loan is considered impaired when, based on current information and events, it is probable that Salus will be unable to collect all amounts due, including principal and/or interest, according to the contractual terms of the agreement. Once a loan has been identified as potentially impaired, management measures impairment based on the present value of payments expected to be received, discounted at the loans’ original effective contractual interest rates, or discounted at the portfolio average contractual annual percentage rate. Impaired loans may also be measured based on observable market prices, or for loans that are solely dependent on the collateral for repayment, the estimated fair value of the collateral less estimated costs to sell. If the recorded investment in impaired loans exceeds this amount, a specific allowance is established as a component of the allowance for loan losses. | ||
Credit Quality Indicators | ||
Salus monitors credit quality as indicated by various factors and utilizes such information in its evaluation of the adequacy of the allowance for credit losses. Salus is a non-bank asset-based lender, who uses a bank-compatible risk rating scale as a guide as to the relative risk of the loan. This scale places primary reliance on a loan’s cash-flow as a source of repayment, as compared to Salus’s primary reliance on the sale or liquidation of collateral. Quarterly, Salus’s accounting and credit teams review all substandard loans for any potential impairment. | ||
The likelihood of collectibility in accordance with the contractual terms of a loan is, in large part, dependent upon the assessed level of risk associated with the specific loan. Borrowers provide Salus with financial information, in accordance with the loan agreement. Additionally, Salus performs further credit due diligence, such as conducting site visits to the borrowers, as well as obtaining collateral appraisals as a measure of safeguard against decline in loans’ collateral values. Salus internally risk rates loans based on individual criteria on at least a quarterly basis. The internal rating that is assigned to a loan provides a view as to the relative risk of each loan. Salus employs an internal risk rating scale to establish a view of the credit quality of each loan. This scale is based on the credit classifications of assets as prescribed by industry standards for the banking industry. The internal risk rating scale is separated into the following groups: | ||
• | Pass - Loans with standard, acceptable levels of credit risk. Salus scores these loans between 1 and 5; | |
• | Special mention - Loans that have potential weaknesses that deserve close attention, and which, if left uncorrected, may result in deterioration of our credit position at some future date. Salus scores these loans as a 6; | |
• | Substandard - Loans that are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well‑defined weakness or weaknesses and are characterized by the distinct possibility that Salus will sustain some loss if the deficiencies are not corrected. Although substandard loans in the aggregate may have a distinct potential for loss, an individual loan’s loss potential does not have to be distinct for the asset to be rated substandard. Salus scores these loans as either 7 or 8 depending on the accrual status; and | |
• | Doubtful - Loans that have all the weaknesses inherent in those classified as Substandard with the added characteristic that the weaknesses make collection or liquidation in full improbable based on currently existing facts, conditions, and values. Salus scores these loans as either a 9 or 10. | |
Derivative Financial Instruments | ||
Consumer Products | ||
Derivative financial instruments are used by the Company’s Consumer Products segment principally in the management of its interest rate, foreign currency exchange rate and raw material price exposures. When hedge accounting is elected at inception, the Company formally designates the financial instrument as a hedge of a specific underlying exposure if such criteria are met, and documents both the risk management objectives and strategies for undertaking the hedge. The Company formally assesses, both at the inception and at least quarterly thereafter, whether the financial instruments that are used in hedging transactions are effective at offsetting changes in the forecasted cash flows of the related underlying exposure. Because of the high degree of effectiveness between the hedging instrument and the underlying exposure being hedged, fluctuations in the value of the derivative instruments are generally offset by changes in the forecasted cash flows of the underlying exposures being hedged. Any ineffective portion of a financial instrument’s change in fair value is immediately recognized in earnings. For derivatives that are not designated as cash flow hedges, or do not qualify for hedge accounting treatment, the change in the fair value is also immediately recognized in earnings. | ||
Insurance | ||
The Company’s insurance segment hedges certain portions of its exposure to product related equity market risk by entering into derivative transactions. All of such derivative instruments are recognized as either assets or liabilities in the accompanying Consolidated Balance Sheets at fair value. The change in fair value is recognized within “Net investment gains” in the accompanying Consolidated Statements of Operations. | ||
FGL purchases financial instruments and issues products that may contain embedded derivative instruments. If it is determined that the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host contract for measurement purposes. The embedded derivative is carried at fair value with changes in fair value reported in the accompanying Consolidated Statements of Operations. | ||
Compass | ||
Compass manages certain portions of its exposure to commodity price fluctuations by entering into derivative transactions. All of such derivative instruments are recognized as either assets or liabilities in the accompanying Consolidated Balance Sheets at fair value. Compass does not designate its derivative financial instruments as hedging instruments for financial reporting purposes and, as a result, recognizes the change in the respective instruments’ fair value “Other expense, net” in the accompanying Consolidated Statements of Operations. | ||
Corporate and Other | ||
Prior to exercising its option to convert substantially all of its outstanding Preferred Stock on May 15, 2014, such outstanding Preferred Stock contained a conversion feature (see Note 1, Basis of Presentation and Nature of Operations and Note 16, Temporary Equity). If the Company were to have issued certain equity securities at a price lower than the conversion price of the respective Preferred Stock, the conversion price would have been adjusted downward to reflect the dilutive effect of the newly issued securities (a “down round” provision). In accordance with the guidance in ASC Topic 815, “Derivatives and Hedging,” the conversion feature was considered to be an embedded derivative that must be separately accounted for as a liability at fair value with any changes in fair value reported in current earnings. The embedded derivative was bifurcated from the host contracts as of the respective issuance dates, marked to fair value and included in “Equity conversion feature of preferred stock” in the accompanying Consolidated Balance Sheets with the change in fair value shown separately in the Consolidated Statements of Operations. The Company valued the conversion feature using the Monte Carlo simulation approach, as discussed further in Note 9, Fair Value of Financial Instruments. | ||
Displays and Fixtures | ||
Temporary displays are generally disposable cardboard displays shipped to customers to facilitate display of the Company’s products. Temporary displays are generally disposed of after a single use by the customer. | ||
Permanent fixtures are more permanent in nature, are generally made from wire or other longer-lived materials, and are shipped to customers for use in displaying the Company’s products. These permanent fixtures are restocked with the Company’s product multiple times over the fixture’s useful life. | ||
The costs of both temporary and permanent displays are capitalized as a prepaid asset until shipped to the customer and are included in “Other assets” in the accompanying Consolidated Balance Sheets. The costs of temporary displays are expensed in the period in which they are shipped to customers and the costs of permanent fixtures are amortized over an estimated useful life of one to two years from the date they are shipped to customers and are reflected in “Other assets” in the accompanying Consolidated Balance Sheets. | ||
Inventories | ||
The Company’s inventories are valued at the lower of cost or net realizable value. Cost of inventories is determined using the first-in, first-out (“FIFO”) method. | ||
Properties | ||
Properties are recorded at cost or at fair value if acquired in a purchase business combination. Depreciation on plant and equipment is calculated on the straight-line method over the estimated useful lives of the assets. Building and improvements depreciable lives are 20-40 years and machinery, equipment and other depreciable lives are 2-15 years. Properties held under capitalized leases are amortized on a straight-line basis over the shorter of the lease term or estimated useful life of the asset and is included in depreciation expense. | ||
The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates recoverability of assets to be held and used by comparing the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. | ||
Oil and natural gas properties | ||
Full Cost Method | ||
The accounting for, and disclosure of, oil and natural gas producing activities require that Compass choose between two GAAP alternatives; the full cost method or the successful efforts method. Compass elected to use the full cost method of accounting, which involves capitalizing all intangible drilling costs, lease and well equipment and exploration and development costs incurred plus acquired proved and unproved leaseholds. Once Compass incurs costs, they are recorded in the depletable pool of proved properties or in unproved properties, collectively, the full cost pool. Compass’ unproved property costs, which include unproved oil and natural gas properties, properties under development, and major development projects, collectively totaled $20.2 and $36.4 as of September 30, 2014 and 2013, respectively, and are not subject to depletion. Compass expects these costs to be evaluated over approximately four years and transferred to the depletable portion of the full cost pool during that time. Compass reviews its unproved oil and natural gas property costs on a quarterly basis to assess for impairment and transfer unproved costs to proved properties as a result of extensions or discoveries from drilling operations or determine that no proved reserves are attributable to such costs. Compass evaluated these properties based on recent drilling results and impaired approximately $6.1 and $10.3 of undeveloped properties which were transferred to the depletable portion of the full cost pool during Fiscal 2014 and the period from inception to September 30, 2013, respectively. The impairment was recorded to reflect the estimated fair value based on Compass' evaluation of potential oil and natural gas reserves from these properties. | ||
Capitalization of Interest | ||
Compass capitalizes interest on costs related to the acquisition of undeveloped acreage in accordance with FASB ASC Subtopic 835-20, Capitalization of Interest. When the unproved property costs are moved to proved developed and undeveloped oil and natural gas properties, or the properties are sold, we cease capitalizing interest related to those properties. Compass capitalizes the portion of general and administrative costs that is attributable to our exploration, exploitation and development activities. | ||
We calculate depletion using the unit-of-production method. Under this method, the sum of the full cost pool, excluding the book value of unproved properties, and all estimated future development costs less estimated salvage value are divided by the total estimated quantities of proved reserves. This rate is applied to our total production for the quarter, and the appropriate expense is recorded | ||
Depletion | ||
Compass calculates depletion using the unit-of-production method. Under this method, the sum of the full cost pool, excluding the book value of unproved properties, and all estimated future development costs less estimated salvage value are divided by the total estimated quantities of proved reserves. This rate is applied to Compass’ total production for the quarter, and the appropriate expense is recorded. | ||
Sales, dispositions and other oil and natural gas property retirements are accounted for as adjustments to the full cost pool, with no recognition of gain or loss, unless the disposition would significantly alter the amortization rate and/or the relationship between capitalized costs and proved reserves. | ||
Ceiling Test and impairment of proved oil and natural gas properties | ||
Pursuant to Rule 4-10(c)(4) of Regulation S-X, Compass was required to compute a limitation on costs capitalized pursuant to their use of the full cost method of accounting for their oil and natural gas properties (the “ceiling test”), using the simple average spot price for the trailing twelve month period for oil and natural gas as of September 30, 2014 and 2013. The ceiling test compares the net book value of the full cost pool, after taxes, to the full cost ceiling limitation defined below. In the event the full cost ceiling limitation is less than the full cost pool, Compass is required to record a ceiling test impairment of Compass’ oil and natural gas properties. The full cost ceiling limitation is computed as the sum of the present value of estimated future net revenues from Compass’ proved reserves by applying the average price as prescribed by the SEC Release No. 33-8995, less estimated future expenditures (based on current costs) to develop and produce the proved reserves, discounted at 10%, plus the cost of properties not being amortized and the lower of cost or estimated fair value of unproved properties included in the costs being amortized, net of income tax effects. | ||
The ceiling test is computed using the simple average spot price for the trailing 12 month period using the first day of each month. For Fiscal 2014, the trailing 12 month reference prices were $4.24 per Mmbtu for natural gas at Henry Hub, and $99.08 per Bbl of oil for West Texas Intermediate at Cushing, Oklahoma. The price used for natural gas liquids was $43.58 per Bbl and was based on the trailing 12 month average of realized prices. Each of the reference prices for oil and natural gas are further adjusted for quality factors and regional differentials to derive estimated future net revenues. Under full cost accounting rules, any ceiling test impairments of oil and natural gas properties may not be reversed in subsequent periods. Since Compass does not designate its derivative financial instruments as hedging instruments, Compass is not allowed to use the impacts of the derivative financial instruments in the ceiling test computations. The ceiling test limitation exceeded the net book value of the full cost pool as of September 30, 2014. | ||
Compass previously requested and received an exemption from the SEC to exclude the acquisition of Compass’ unamortized oil and natural gas properties from the ceiling test for a period of one year following the acquisition date. Such exemption expired during the interim period ended March 31, 2014 and the Company’s portion of Compass recognized impairments of $81.0 to its proved oil and natural gas properties. The impairments primarily resulted from differences in the oil and natural gas prices utilized in the purchase price allocation at the acquisition date and the prices used in the ceiling test calculation. | ||
The pricing utilized in the purchase price allocation as of the acquisition date was based on models which incorporate, among other things, market prices based on New York Mercantile Exchange (“NYMEX”) futures as of the acquisition date. Compass’ expectation of future prices is principally based on NYMEX futures contracts adjusted for basis differentials. Compass believes the NYMEX futures contracts reflect an independent proxy for fair value. The ceiling test requires companies to price period ending proved reserves using the simple average spot price for the trailing twelve month period, which may not be indicative of actual market values. Given the short passage of time between closing of these acquisitions and the required ceiling test computation, Compass requested, and received an exemption from the SEC to exclude the acquisition of these oil and gas properties from the ceiling test assessments for a period of twelve months following the corresponding acquisition dates. | ||
During the ceiling test exemption period, Compass assessed the properties for potential impairment due to an other than temporary trend that would negatively impact the fair value. Compass evaluated these properties for impairment using discounted cash flow models based on internally generated oil and natural gas reserves as of September 30, 2013. The pricing utilized in these models was based on NYMEX futures in a manner consistent with the aforementioned pricing for acquisitions. As a result of this evaluation, the Company’s portion of Compass recognized an impairment of $54.3 to proved oil and natural gas properties based on the excess of unamortized costs over the fair value of September 30, 2013. The impairment was primarily the result of downward revisions in the oil and natural gas reserves due to previous drilling results, modifications to our development plans, and a decline in natural gas prices. The fair value measurements utilized as part of the impairment calculation included significant unobservable inputs that are considered to be Level 3 within the fair value hierarchy. These unobservable inputs include Compass’ estimates of reserve quantities, commodity prices, operating costs, development costs, discount factors and other risk factors applied to the future cash flows. | ||
The ceiling test calculation and impairment evaluation are based upon estimates of proved reserves. There are numerous uncertainties inherent in estimating quantities of proved reserves, in projecting the future rates of production and in the timing of development activities. The accuracy of any reserve estimate is a function of the quality of available data and of engineering and geological interpretation and judgment. Results of drilling, testing and production subsequent to the date of the estimate may justify revision of such estimate. Accordingly, reserve estimates are often different from the quantities of oil and natural gas that are ultimately recovered. | ||
Gas gathering assets | ||
Gas gathering assets are capitalized at cost and depreciated on a straight line basis over their estimated useful lives of up to fourteen years. | ||
Deferred abandonment and asset retirement obligations | ||
Compass applies FASB ASC 410-20, Asset Retirement and Environmental Obligations (“ASC 410-20”), to account for estimated future plugging and abandonment costs. ASC 410-20 requires legal obligations associated with the retirement of long-lived assets to be recognized at their estimated fair value at the time that the obligations are incurred. Upon initial recognition of a liability, that cost is capitalized as part of the related long-lived asset and allocated to expense over the useful life of the asset. Compass’ asset retirement obligations primarily represent the present value of the estimated amount it will incur to plug, abandon and remediate proved producing properties at the end of their productive lives, in accordance with applicable state laws. | ||
Compass’ asset retirement obligations are determined using discounted cash flow methodologies based on inputs that are not readily available in public markets. Compass has no assets that are legally restricted for purposes of settling asset retirement obligations. | ||
Goodwill | ||
The excess of the fair value of the consideration transferred in a business combination over the fair value of net assets acquired (goodwill) is not amortized. Goodwill is tested for impairment at least annually, at the reporting unit level. If impairment is indicated, a write-down to fair value (normally measured by discounting estimated future cash flows) is recorded. In accordance with ASC Topic 350, “Intangibles-Goodwill and Other,” (“ASC 350”), the Company conducts impairment testing on its goodwill annually, as of the August financial period end. The Company first assesses qualitative factors, as described in ASC 350, to determine whether it is necessary to perform the two-step goodwill impairment test. If determined to be necessary, the two-step impairment test is used to identify potential goodwill impairment and measure the amount of a goodwill impairment loss to be recognized (if any). To determine fair value for the two-step goodwill impairment test, during Fiscal 2014, 2013 and 2012, the Company used the discounted estimated future cash flows methodology and third party valuations. Assumptions critical to the Company’s fair value estimates under the discounted estimated future cash flows methodology are: (i) the present value factors used in determining the fair value of the reporting units and trade names; (ii) projected average revenue growth rates used in estimating future cash flows for the reporting unit; and (iii) projected long-term growth rates used in the derivation of terminal year values. These and other assumptions are impacted by economic conditions and expectations of management and will change in the future based on period specific facts and circumstances. | ||
Consumer Products | ||
During Fiscal 2014, 2013 and 2012, the first step of the goodwill impairment test indicated that the fair value of Spectrum Brands’ reporting segments was in excess of their carrying amounts and, accordingly, no further testing for goodwill impairment was required. Spectrum Brands also tested the aggregate estimated fair value of its reporting units for reasonableness by comparison to the total market capitalization of Spectrum Brands, which includes both its equity and debt securities. | ||
The fair values of the global batteries & appliances, hardware & home improvement, global pet supplies and home and garden business reporting units, which are also Spectrum Brands’ segments exceeded their carrying values by 87%, 47%, 80% and 146%, respectively, as of the date of the latest annual impairment testing in Fiscal 2014. | ||
Corporate and Other | ||
In connection with the annual goodwill impairment testing performed for Corporate and Other during Fiscal 2014, the first step of the goodwill impairment test indicated that the fair value of FOH was in excess of its carrying amount and, accordingly, no further testing of goodwill impairment was required. | ||
Intangibles, including deferred acquisition costs and value of business acquired, net | ||
Intangible assets are recorded at cost or at fair value if acquired in a purchase business combination. Customer lists, proprietary technology and certain trade name intangibles are amortized, using the straight-line method, over their estimated useful lives of up to 20 years. | ||
Intangibles with Indefinite Lives | ||
Indefinite-lived intangible assets (certain trade name intangibles) are not amortized. Indefinite-lived trade name intangibles are tested for impairment at least annually by comparing the fair value, determined using a relief from royalty methodology, with the carrying value. Any excess of carrying value over fair value is recognized as an impairment loss in income from operations. | ||
In addition, in accordance with ASC 350, as part of the Company’s annual impairment testing, the Company tested its indefinite-lived trade name intangible assets for impairment by comparing the carrying amount of such trade names to their respective fair values. Fair value was determined using a relief from royalty methodology. Assumptions critical to the Company’s fair value estimates under the relief from royalty methodology were: (i) royalty rates; (ii) projected average revenue growth rates; and (iii) applicable discount rates. | ||
Consumer Products | ||
In connection with its annual impairment testing of indefinite-lived intangible assets during Fiscal 2014, 2013 and 2012, Spectrum Brands concluded that the fair values of its intangible assets exceeded their carrying values. Additionally, during Fiscal 2012 Spectrum Brands reclassified $3.5 of certain indefinite lived trade names to definite lived trade names. Those trade names are being amortized over the remaining useful lives, which have been estimated to be 1-3 years. | ||
Corporate and Other | ||
In connection with its annual impairment testing of indefinite-lived intangible assets during Fiscal 2014 FOH concluded that the fair values of its intangible assets exceeded their carrying values. | ||
Intangibles with Definite or Estimable Useful Lives | ||
The Company assesses the recoverability of intangible assets with definite or estimable useful lives whenever an event or circumstance occurs that indicates an impairment loss may have been incurred. The Company assesses the recoverability of these intangible assets by determining whether their carrying value can be recovered through projected undiscounted future cash flows. If projected undiscounted future cash flows indicate that the carrying value of the assets will not be recovered, an adjustment would be made to reduce the carrying value to an amount equal to estimated fair value determined based on projected future cash flows discounted at the Company’s incremental borrowing rate. The cash flow projections used in estimating fair value are based on historical performance and management’s estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions. | ||
Impairment reviews are conducted at the judgment of management when it believes that a change in circumstances in the business or external factors warrants a review. Circumstances such as the discontinuation of a product or product line, a sudden or consistent decline in the sales forecast for a product, changes in technology or in the way an asset is being used, a history of operating or cash flow losses, or an adverse change in legal factors or in the business climate, among others, may trigger an impairment review. | ||
Deferred acquisition costs and value of business acquired, net | ||
Insurance | ||
The Company’s intangible assets include value of business acquired (“VOBA”), deferred acquisition cost (“DAC”) and deferred sales inducements (“DSI”). | ||
VOBA is an intangible asset that reflects the estimated fair value of in-force contracts in a life insurance company acquisition less the amount recorded as insurance contract liabilities. It represents the portion of the purchase price that is allocated to the value of the rights to receive future cash flows from the business in force at the acquisition date. DAC represents costs that are related directly to new or renewal insurance contracts, which may be deferred to the extent recoverable. These costs include incremental direct costs of contract acquisition, primarily commissions, as well as certain costs related directly to underwriting, policy issuance and processing. DSI represents up front bonus credits and vesting bonuses to policyholder account values, which are accounted for similarly to DAC and are recorded within the DAC asset balance. | ||
The methodology for determining the amortization of DAC and VOBA varies by product type. For all insurance contracts accounted for under long-duration contract deposit accounting, amortization is based on assumptions consistent with those used in the development of the underlying contract adjusted for emerging experience and expected trends. DAC and VOBA amortization are reported within “Amortization of intangibles” in the accompanying Consolidated Statements of Operations. | ||
DAC and VOBA for indexed universal life (“IUL”) and investment-type products are generally amortized over the lives of the policies in relation to the incidence of estimated gross profits (“EGPs”) from investment income, surrender charges and other product fees, policy benefits, maintenance expenses, mortality net of reinsurance ceded and expense margins, and recognized gains (losses) on investments and changes in fair value of the coinsurance embedded derivative. | ||
Changes in assumptions can have a significant impact on VOBA and DAC balances and amortization rates. Due to the relative size and sensitivity to minor changes in underlying assumptions of VOBA and DAC balances, FGL performs quarterly and annual analyses of VOBA and DAC for the annuity and indexed universal life businesses. The VOBA and DAC balances are also periodically evaluated for recoverability to ensure that the unamortized portion does not exceed the expected recoverable amounts. At each evaluation date, actual historical gross profits are reflected, and estimated future gross profits and related assumptions are evaluated for continued reasonableness. Any adjustment in estimated future gross profits requires that the amortization rate be revised (“unlocking”) retroactively to the date of the policy or contract issuance. The cumulative unlocking adjustment is recognized as a component of current period amortization. | ||
The carrying amounts of VOBA and DAC are adjusted for the effects of realized and unrealized gains and losses on debt securities classified as available-for-sale and certain derivatives and embedded derivatives. Amortization expense of VOBA and DAC reflects an assumption for an expected level of credit-related investment losses. When actual credit-related investment losses are realized, FGL performs a retrospective unlocking of VOBA and DAC amortization as actual margins vary from expected margins. This unlocking is reflected in the accompanying Consolidated Statements of Operations. | ||
For investment-type products, the VOBA and DAC assets are adjusted for the impact of unrealized gains (losses) on investments as if these gains (losses) had been realized, with corresponding credits or charges included in AOCI. | ||
Reinsurance | ||
FGL’s insurance subsidiaries enter into reinsurance agreements with other companies in the normal course of business. The assets, liabilities, premiums and benefits of certain reinsurance contracts are presented on a net basis in the accompanying Consolidated Balance Sheets and Consolidated Statements of Operations, respectively, when there is a right of offset explicit in the reinsurance agreements. All other reinsurance agreements are reported on a gross basis in the Company’s Consolidated Balance Sheets as an asset for amounts recoverable from reinsurers or as a component of other liabilities for amounts, such as premiums, owed to the reinsurers, with the exception of amounts for which the right of offset also exists. Premiums and benefits are reported net of insurance ceded. | ||
Debt Issuance Costs | ||
Debt issuance costs, which are capitalized within “Other assets,” and original issue discount, net of any premiums, on debt are amortized to interest expense using the effective interest method over the lives of the related debt agreements. | ||
Accounts Payable | ||
Included in accounts payable are book overdrafts, net of deposits on hand, on disbursement accounts that are replenished when checks are presented for payment. | ||
Income Taxes | ||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company has the ability and intent to recover in a tax-free manner assets (or liabilities) with book/tax basis differences for which no deferred taxes have been provided, in accordance with ASC Topic 740, “Income Taxes.” Accordingly, the Company did not provide deferred income taxes on the gain on contingent purchase price reduction of $41.0 in Fiscal 2012. | ||
The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that has a greater than 50% likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Accrued interest expense and penalties related to uncertain tax positions are recorded in “Income tax expense (benefit)” in the Company’s Consolidated Statements of Operations. | ||
Contractholder Funds and Future Policy Benefits | ||
The liabilities for contractholder funds for deferred annuities, IUL and universal life (“UL”) policies consist of contract account balances that accrue to the benefit of the contractholders, excluding surrender charges and other liabilities. The liabilities for Fixed Index Annuities (“FIA”) consist of the value of the host contract plus the value of the embedded derivative. The embedded derivative is carried at fair value in “Contractholder funds” in the accompanying Consolidated Balance Sheets with changes in fair value reported in the accompanying Consolidated Statements of Operations. Liabilities for immediate annuities without life contingencies are the present value of future benefits. | ||
Liabilities for the secondary guarantees on UL-type products or Investment-type contracts are calculated by multiplying the benefit ratio by the cumulative assessments recorded from contract inception through the balance sheet date less the cumulative secondary guarantee benefit payments plus interest. If experience or assumption changes result in a new benefit ratio, the reserves are adjusted to reflect the changes in a manner similar to the unlocking of DAC and VOBA. The accounting for secondary guarantee benefits impacts, and is impacted by, EGPs used to calculate amortization of DAC and VOBA. | ||
The liabilities for future policy benefits and claim reserves for traditional life policies and life contingent pay-out annuity policies are computed using assumptions for investment yields, mortality and withdrawals based principally on generally accepted actuarial methods and assumptions at the time of contract issue. Investment yield assumptions for traditional direct life reserves for all contracts range from 5.8% to 6.2%. The investment yield assumptions for life contingent pay-out annuities range from 0.8% to 6.0%. | ||
Federal Home Loan Bank of Atlanta Agreements | ||
Contractholder funds include funds related to funding agreements that have been issued to the Federal Home Loan Bank of Atlanta (“FHLB”) as a funding medium for single premium funding agreements issued by FGL to the FHLB. | ||
Funding agreements were issued to the FHLB in 2003, 2004, 2005, 2011 and 2012. The funding agreements (i.e., immediate annuity contracts without life contingencies) provide a guaranteed stream of payments. Single premiums were received at the initiation of the funding agreements and were in the form of advances from the FHLB. Payments under the funding agreements extend through 2022. The reserves for the funding agreements totaled $525.8 and $554.9 at September 30, 2014 and 2013, respectively, and are included in “Contractholder funds” in the accompanying Consolidated Balance Sheets. | ||
In accordance with the agreements, the investments supporting the funding agreement liabilities are pledged as collateral to secure the FHLB funding agreement liabilities. The collateral investments had a fair value of $573.2 and $604.9 at September 30, 2014 and 2013, respectively. | ||
Foreign Currency Translation | ||
Local currencies are considered the functional currencies for most of the Company’s operations outside the United States (“U.S”). Assets and liabilities of the Company’s foreign subsidiaries are translated at the rate of exchange existing at year-end, with revenues, expenses, and cash flows translated at the average of the monthly exchange rates. Adjustments resulting from translation of the financial statements are recorded as a component of AOCI. Also included in AOCI are the effects of exchange rate changes on intercompany balances of a long-term nature. | ||
As of September 30, 2014 and 2013, accumulated losses related to foreign currency translation adjustments of $23.2 and $4.1 (net of taxes and non-controlling interest), respectively, were reflected in the accompanying Consolidated Balance Sheets in AOCI. | ||
Foreign currency transaction gains and losses related to assets and liabilities that are denominated in a currency other than the functional currency are reported in the Consolidated Statements of Operations in the period they occur. Exchange losses on foreign currency transactions aggregating $11.6, $9.4 and $1.7 for Fiscal 2014, 2013 and 2012, respectively, are included in “Other expense, net” in the accompanying Consolidated Statements of Operations. | ||
Revenue Recognition | ||
Net Consumer and Other Product Sales | ||
The Company recognizes revenue from product sales generally upon delivery to the customer or the shipping point in situations where the customer picks up the product or where delivery terms so stipulate. This represents the point at which title and all risks and rewards of ownership of the product are passed, provided that: there are no uncertainties regarding customer acceptance; there is persuasive evidence that an arrangement exists; the price to the buyer is fixed or determinable; and collectibility is deemed reasonably assured. The Company is generally not obligated to allow for, and it’s general policy is not to accept, product returns for battery sales. The Company does accept returns in specific instances related to its shaving, grooming, personal care, home and garden, small appliances and pet products. The provision for customer returns is based on historical sales and returns and other relevant information. The Company estimates and accrues the cost of returns, which are treated as a reduction of “Net consumer and other product sales.” | ||
The Company enters into various promotional arrangements, primarily with retail customers, including arrangements entitling such retailers to cash rebates from the Company based on the level of their purchases, which require the Company to estimate and accrue the estimated costs of the promotional programs. These costs are treated as a reduction of “Net consumer and other product sales.” | ||
The Company also enters into promotional arrangements that target the ultimate consumer. The costs associated with such arrangements are treated as either a reduction of “Net consumer and other product sales” or an increase of “Cost of consumer products and other goods sold,” based on the type of promotional program. The income statement presentation of the Company’s promotional arrangements complies with ASC Topic 605, “Revenue Recognition.” For all types of promotional arrangements and programs, the Company monitors its commitments and uses various measures, including past experience, to determine amounts to be recorded for the estimate of the earned, but unpaid, promotional costs. The terms of the Company’s customer-related promotional arrangements and programs are tailored to each customer and are documented through written contracts, correspondence or other communications with the individual customers. | ||
The Company also enters into various arrangements, primarily with retail customers, which require the Company to make upfront cash, or “slotting” payments, in order to secure the right to distribute through such customers. The Company capitalizes slotting payments; provided the payments are supported by a time or volume based arrangement with the retailer, and amortizes the associated payment over the appropriate time or volume based term of the arrangement. The amortization of slotting payments is treated as a reduction of “Net consumer and other product sales” and a corresponding asset is reported in “Other assets” in the accompanying Consolidated Balance Sheets. | ||
Insurance Premiums | ||
FGL’s insurance premiums for traditional life insurance products are recognized as revenue when due from the contractholder. FGL’s traditional life insurance products include those products with fixed and guaranteed premiums and benefits and consist primarily of term life insurance and certain annuities with life contingencies. | ||
Premium collections for fixed indexed and fixed rate annuities, IUL policies and immediate annuities without life contingency are reported as deposit liabilities (i.e., contractholder funds) instead of as revenues. Similarly, cash payments to policyholders are reported as decreases in the liability for contractholder funds and not as expenses. Sources of revenues for products accounted for as deposit liabilities are net investment income, surrender and other charges deducted from contractholder funds, and net recognized gains (losses) on investments. | ||
Net Investment Income | ||
Dividends and interest income of FGL, Front Street and Salus, recorded in “Net investment income,” are recognized when earned. Amortization of premiums and accretion of discounts on investments in fixed maturity securities are reflected in “Net investment income” over the contractual terms of the investments in a manner that produces a constant effective yield. | ||
For mortgage-backed securities, included in the fixed maturity available-for-sale securities portfolios, FGL recognizes income using a constant effective yield based on anticipated prepayments and the estimated economic life of the securities. When actual prepayments differ significantly from originally anticipated prepayments, the effective yield is recalculated prospectively to reflect actual payments to date plus anticipated future payments. Any adjustments resulting from changes in effective yield are reflected in “Net investment income.” | ||
Net Investment Gains (Losses) | ||
Net investment gains include realized gains and losses from the sale of investments, write-downs for other-than-temporary impairments of available-for-sale investments, and gains and losses on derivative investments. For the insurance segment, realized gains and losses on the sale of investments are determined using the specific identification method. | ||
Product Fees | ||
Product fee revenue from indexed universal life insurance products and deferred annuities is comprised of policy and contract fees charged for the cost of insurance policy administration and rider fees that are assessed on a monthly basis, and recognized as revenue when assessed and earned. Product fee revenue also includes surrender charges which are recognized and collected when the policy is surrendered. | ||
Oil and natural gas revenues | ||
Compass uses the sales method of accounting for oil and natural gas revenues. Under the sales method, revenues are recognized based on actual volumes of oil and natural gas sold to purchasers. Gas imbalances at September 30, 2014 were not significant. | ||
Shipping and Handling Costs | ||
Shipping and handling costs, which are included in “Selling, acquisition, operating and general expenses” in the accompanying Consolidated Statements of Operations, include costs incurred with third-party carriers to transport products to customers and salaries and overhead costs related to activities to prepare the Company’s products for shipment at the Company’s distribution facilities. The Company incurred shipping and handling costs of $260.3, $246.1 and $198.2 during Fiscal 2014, 2013 and 2012, respectively. | ||
Advertising Costs | ||
Advertising costs, which are included in “Selling, acquisition, operating and general expenses” in the accompanying Consolidated Statements of Operations, include agency fees and other costs to create advertisements, as well as costs paid to third parties to print or broadcast the Company’s advertisements. The Company incurred advertising costs of $21.5, $23.0 and $20.7 during Fiscal 2014, 2013 and 2012, respectively. | ||
Research and Development Costs | ||
Research and development costs are charged to “Selling, acquisition, operating and general expenses” in the period they are incurred. The Company incurred research and development costs of $47.9, $43.3 and $33.1 during Fiscal 2014, 2013 and 2012, respectively. | ||
Environmental Expenditures | ||
Environmental expenditures that relate to current ongoing operations or to conditions caused by past operations are expensed or capitalized as appropriate. The Company determines its liability for environmental matters on a site-by-site basis and records a liability at the time when it is probable that a liability has been incurred and such liability can be reasonably estimated. The estimated liability is not reduced for possible recoveries from insurance carriers. Estimated environmental remediation expenditures are included in the determination of the net realizable value recorded for assets held for sale. | ||
Gathering and Transportation | ||
Compass generally sells oil and natural gas under two types of agreements which are common in the industry. Both types of agreements include a transportation charge. One is a net-back arrangement, under which Compass sells oil or natural gas at the wellhead and collects a price, net of the transportation incurred by the purchaser. In this case, Compass records sales at the price received from the purchaser, net of the transportation costs. Under the other arrangement, Compass sells oil or natural gas at a specific delivery point, pays transportation to a third party and receives proceeds from the purchaser with no transportation deduction. In this case, Compass records the transportation cost as gathering and transportation expense. Due to these two distinct selling arrangements, Compass’ computed realized prices, before the impact of derivative financial instruments, includes revenues which are reported under two separate bases. | ||
Overhead Reimbursement Fees | ||
Compass has classified fees from overhead charges billed to working interest owners, including itself, as a reduction of general and administrative expenses in the accompanying Consolidated Statements of Operations. Compass’ share of these charges were $7.5 in Fiscal 2014 and $4.3 from inception to the period ended September 30, 2014 and was classified as oil and natural gas production costs. | ||
Legal Matters and Contingencies | ||
The Company records legal fees and accruals in accordance with ASC Topic 450, “Contingencies.” Contingencies arising from environmental remediation costs, regulatory judgments, claims, assessments, guarantees, litigation, recourse reserves, fines, penalties and other sources are recorded when deemed probable and reasonably estimable. | ||
Restructuring and Related Charges | ||
Restructuring charges are recognized and measured in accordance with the provisions of ASC Topic 420: “Exit or Disposal Cost Obligations,” (“ASC 420”) and ASC Topic 712: “Compensation - Nonretirement Post-Employment Benefits,” (ASC 712”). Under ASC 420 and ASC 712, restructuring charges include, but are not limited to, termination and related costs consisting primarily of one-time termination benefits such as severance costs and retention bonuses, and contract termination costs consisting primarily of lease termination costs. Related charges, as defined by the Company, include, but are not limited to, other costs directly associated with exit and integration activities, including impairment of property and other assets, departmental costs of full-time incremental integration employees, and any other items related to the exit or integration activities. Costs for such activities are estimated by management after evaluating detailed analyses of the costs to be incurred. The Company presents restructuring and related charges on a combined basis. | ||
Liabilities from restructuring and related charges are recorded for estimated costs of facility closures, significant organizational adjustments and measures undertaken by management to exit certain activities. Costs for such activities are estimated by management after evaluating detailed analyses of the costs to be incurred. Such liabilities could include amounts for items such as severance costs and related benefits (including settlements of pension plans), impairment of property and equipment and other current or long term assets, lease termination payments and any other items directly related to the exit activities. While the actions are carried out as expeditiously as possible, restructuring and related charges are estimates. Changes in estimates resulting in an increase to or a reversal of a previously recorded liability may be required as management executes a restructuring plan. | ||
The Company reports restructuring and related charges associated with manufacturing and related initiatives in cost of goods sold. Restructuring and related charges reflected in cost of goods sold include, but are not limited to, termination and related costs associated with manufacturing employees, asset impairments relating to manufacturing initiatives and other costs directly related to the restructuring initiatives implemented. | ||
The Company reports restructuring and related charges associated with administrative functions in operating expenses, such as initiatives impacting sales, marketing, distribution or other non-manufacturing related functions. Restructuring and related charges reflected in operating expenses include, but are not limited to, termination and related costs, any asset impairments relating to the administrative functions and other costs directly related to the initiatives implemented. | ||
Restructuring and related charges are reflected in “Cost of consumer products and other goods sold” and “Selling, acquisition, operating and general expenses” as applicable (see Note 22, Restructuring and Related Charges). | ||
Benefits and Other Changes in Policy Reserves | ||
Benefit expenses for deferred annuity, FIA and IUL policies include index credits and interest credited to contractholder account balances and benefit claims incurred during the period in excess of contract account balances. Interest crediting rates associated with funds invested in the general account of FGL’s insurance subsidiaries during 2012 through 2014 ranged from 0.0% to 6.0% for deferred annuities and FIAs, combined and 0.0% to 5.5% for IULs. Other changes in policy reserves include the change in the fair value of the FIA embedded derivative and the change in the reserve for secondary guarantee benefit payments. | ||
Other changes in policy reserves also include the change in reserves for life insurance products. For traditional life and immediate annuities, policy benefit claims are charged to expense in the period that the claims are incurred. | ||
Interest Expense | ||
Interest expense on the Company’s short-term and long-term debt is recognized as due and any associated premiums, discounts, and costs are amortized (accreted) over the term of the related borrowing utilizing the effective interest method. Interest expense also includes fees on the Company’s credit facilities. | ||
Earnings Per Share (“EPS”) | ||
The Company computes net income (loss) per common share in accordance with ASC Topic 260, “Earnings per Share,” which requires companies with complex capital structures, such as having two (or more) classes of securities that participate in declared dividends to calculate earnings (loss) per share utilizing the two-class method. As the holders of the Preferred Stock are entitled to receive dividends with common stock on an as-converted basis, the Preferred Stock has the right to participate in undistributed earnings and must therefore be considered under the two-class method. | ||
Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average shares outstanding for the period. Diluted net income (loss) per share is calculated in the same manner, but shares outstanding are adjusted to reflect the potential dilution that would occur if unvested options, warrants, restricted stock units and unvested restricted stock awards were vested and if outstanding preferred stock was converted to common stock. The dilutive effects of such stock-based compensation awards are calculated using the treasury stock method. In periods where losses are recorded, inclusion of potentially dilutive securities in the calculation would decrease the loss per common share and therefore they are not added to the weighted average number of shares outstanding due to their anti-dilutive effect. | ||
Comprehensive Income (Loss) | ||
Comprehensive income (loss) includes foreign currency translation gains and losses on assets and liabilities of foreign subsidiaries, effects of exchange rate changes on intercompany balances of a long-term nature and transactions designated as a hedge of a net investment in a foreign subsidiary, deferred gains and losses on derivative financial instruments designated as cash flow hedges, actuarial adjustments to pension plans, and unrealized gains (losses) and non-credit related other-than-temporary impairments on investment securities of the insurance segment classified as available-for-sale. Except for gains and losses resulting from exchange rate changes on intercompany balances of a long-term nature, the Company did not provide income taxes on currency translation adjustments prior to Fiscal 2013, as earnings from international subsidiaries were considered to be permanently reinvested. As of the beginning of Fiscal 2013, earnings from international subsidiaries are no longer considered to be permanently reinvested by the Company. Net unrealized gains and losses on investment securities classified as available-for-sale by FGL are reduced by deferred income taxes and adjustments to intangible assets, including VOBA and DAC, that would have resulted had such gains and losses been realized (see Note 13, Goodwill and Intangibles, including DAC and VOBA, net). | ||
Fair Value Measurements | ||
The Company’s measurement of fair value is based on assumptions used by market participants in pricing the asset or liability, which may include inherent risk, restrictions on the sale or use of an asset or non-performance risk, which may include the Company’s own credit risk. The Company’s estimate of an exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability (“exit price”) in the principal market, or the most advantageous market in the absence of a principal market, for that asset or liability, as opposed to the price that would be paid to acquire the asset or receive a liability (“entry price”). The Company categorizes financial instruments carried at fair value into a three-level fair value hierarchy, based on the priority of inputs to the respective valuation technique. The three-level hierarchy for fair value measurement is defined as follows: | ||
Level 1 — Values are unadjusted quoted prices for identical assets and liabilities in active markets accessible at the measurement date. | ||
Level 2 — Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices from those willing to trade in markets that are not active, or other inputs that are observable or can be corroborated by market data for the term of the instrument. Such inputs include market interest rates and volatilities, spreads and yield curves. | ||
Level 3 — Certain inputs are unobservable (supported by little or no market activity) and significant to the fair value measurement. Unobservable inputs reflect the Company’s best estimate of what hypothetical market participants would use to determine a transaction price for the asset or liability at the reporting date based on the best information available in the circumstances. | ||
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lower level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment. | ||
When a determination is made to classify an asset or liability within Level 3 of the fair value hierarchy, the determination is based upon the significance of the unobservable inputs to the overall fair value measurement. Because certain securities trade in less liquid or illiquid markets with limited or no pricing information, the determination of fair value for these securities is inherently more difficult. However, Level 3 fair value investments may include, in addition to the unobservable or Level 3 inputs, observable components, which are components that are actively quoted or can be validated to market-based sources. | ||
Reclassifications and Retrospective Adjustments | ||
Certain prior year amounts have been reclassified or combined to conform to the current year presentation. These reclassifications and combinations had no effect on previously reported results of operations or accumulated deficit. | ||
Recent Accounting Pronouncements | ||
Investments in Qualified Affordable Housing Projects | ||
In January 2014, the FASB issued amended guidance which allows investors in Low Income Housing Tax Credit (“LIHTC”) programs that meet specified conditions to present the net tax benefits (net of the amortization of the cost of the investment) within income tax expense. The cost of the investments that meet the specified conditions will be amortized in proportion to (and over the same period as) the total expected tax benefits, including the tax credits and other tax benefits, as they are realized on the tax return. The guidance is required to be applied retrospectively, if investors elect the proportional amortization method. However, if investors have existing LIHTC investments accounted for under the effective-yield method at adoption, they may continue to apply that method for those existing investments. The new standards will become effective for the Company beginning in the first quarter of its fiscal year ending September 30, 2016. The Company is currently evaluating the impact of this new accounting guidance on its consolidated financial position and results of operations. | ||
Offsetting Assets and Liabilities | ||
In December 2011, the FASB issued amended disclosure requirements for offsetting financial assets and financial liabilities to allow investors to better compare financial statements prepared under GAAP with financial statements prepared under International Financial Reporting Standards. The new standards are effective for the Company beginning in the first quarter of its fiscal year ending September 30, 2014. ASU 2011-11 Disclosures about Offsetting Assets and Liabilities - was adopted by the Company effective October 1, 2013. The Company does not offset any of its derivative transactions, including bifurcated embedded derivatives, in its statement of financial position. The Company only enters into purchased equity options and long futures contracts. The Company has not entered into any repurchase and reverse repurchase agreements or securities borrowing and lending transactions. Accordingly, no additional disclosures are required. | ||
Presentation of Unrecognized Tax Benefit | ||
In July 2013, the FASB issued ASU 2013-11, “Income taxes (Topic 740): Presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists,” which requires entities to present unrecognized tax benefits as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, except to the extent the net operating loss carryforwards or tax credit carryforwards are not available to be used at the reporting date to settle additional income taxes, and the entity does not intend to use them for this purpose. The new accounting guidance is consistent with how the Company has historically accounted for unrecognized tax benefits in its Consolidated Statements of Financial Position; therefore, the Company does not expect the adoption of this guidance to have a significant impact on its consolidated financial statements. | ||
Revenue from Contracts with Customers | ||
In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. This ASU requires revenue recognition to depict the transfer of 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. The new revenue recognition model requires identifying the contract, identifying the performance obligations, determining the transaction price, allocating the transaction price to performance obligations and recognizing the revenue upon satisfaction of performance obligations. This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. This ASU can be applied either retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the update recognized at the date of the initial application along with additional disclosures. This ASU will become effective for the Company beginning in the first quarter of its fiscal year ending September 30, 2018. The Company has not selected a method for adoption, nor determined the potential effects on our consolidated financial statements. |
Significant_Risks_and_Uncertai
Significant Risks and Uncertainties | 12 Months Ended |
Sep. 30, 2014 | |
Risks and Uncertainties [Abstract] | ' |
Significant Risks and Uncertainties | ' |
Significant Risks and Uncertainties | |
Use of Estimates | |
The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Due to the inherent uncertainty involved in making estimates, actual results in future periods could differ from those estimates. | |
The Company’s significant estimates which are susceptible to change in the near term relate to (1) recognition of deferred tax assets and related valuation allowances (see Note 4, Acquisitions and Note 21, Income Taxes), (2) fair value of certain invested assets and derivatives including embedded derivatives (see Note 5, Investments, Note 6, Derivative Financial Instruments and Note 9, Fair Value of Financial Instruments), (3) other-than-temporary impairments of available-for-sale investments (see Note 5, Investments), (4) estimates of reserves for loss contingencies, including litigation, regulatory and environmental reserves (see Note 24, Commitments and Contingencies), (5) valuation and impairment recognition for long-lived assets including properties, oil and gas properties, and goodwill and intangibles (see Note 2, Significant Accounting Policies and Practices and Recent Accounting Pronouncements, Note 12, Properties, including oil and natural gas properties, net and Note 13, Goodwill and Intangibles, including DAC and VOBA, net) and (6) VOBA and DAC amortization (see Note 2, Significant Accounting Policies and Practices and Recent Accounting Pronouncements and Note 13, Goodwill and Intangibles, including DAC and VOBA, net), and (7) reserves for future policy benefits and product guarantees (see Note 2, Significant Accounting Policies and Practices and Recent Accounting Pronouncements). | |
The Company periodically, and at least annually, reviews the assumptions associated with reserves for policy benefits and product guarantees and amortization of intangibles. As part of the assumption review process that occurred in the quarter ended September 2014 and 2013, changes were made to the surrender rates, earned rates and future index credits to bring the assumptions in line with current and expected future experience. The change in assumptions as of September 30, 2014 resulted in a net decrease in future expected margins and corresponding “unlocking” and amortization adjustments, decreasing intangible assets due to increasing net intangible asset amortization by $2.2 in Fiscal 2014. These assumptions are also used in the reserve calculation and resulted in a decrease in reserves of $4.8 during Fiscal 2014. The change in assumptions as of September 30, 2013 resulted in a net increase in future expected margins and corresponding “unlocking” and amortization adjustments, increasing intangible assets and reducing the net intangible asset amortization by $33.1 in Fiscal 2013. These assumptions are also used in the FIA embedded derivative reserve calculation and resulted in a decrease in benefits and other changes in policy reserves and a decrease in reserves of $45.3 during Fiscal 2013, net of related intangible amortization. | |
Concentrations of Credit Risk and Major Customers | |
Trade receivables subject the Company’s consumer products and energy segments to credit risk. Trade accounts receivable are carried at net realizable value. | |
Spectrum Brands extends credit to its customers based upon an evaluation of the customer’s financial condition and credit history, and generally does not require collateral. Spectrum Brands monitors its customers’ credit and financial condition based on changing economic conditions and makes adjustments to credit policies as required. Provisions for losses on uncollectible consumer products trade receivables are determined based on ongoing evaluations of Spectrum Brands’ receivables, principally on the basis of historical collection experience and evaluations of the risks of nonpayment for a given customer. | |
Compass sells oil, natural gas and natural gas liquids (“NGLs”) to various customers and participates with other parties in the drilling, completion and operation of oil and natural gas wells. Compass’ trade accounts receivable are due from purchasers of oil or natural gas. Compass has the right to offset future revenues against unpaid charges related to wells which it operates. Oil and natural gas trade receivables are generally uncollateralized. The allowance for doubtful oil and natural gas accounts receivable was immaterial as of September 30, 2014. In addition, Compass has other receivables due from participants in oil and natural gas wells for which it serves as the operator. | |
The Company’s consumer products segment has a broad range of customers including many large retail outlet chains, one of which accounts for a significant percentage of its sales volume. This major customer represented approximately 15.7%, 18.0% and 23.0% of the Company’s “Net consumer and other product sales” during Fiscal 2014, 2013 and 2012, respectively. This major customer also represented approximately 13.0% and 11.0% of the Company’s trade accounts receivable, net as of September 30, 2014 and 2013, respectively (see Note 10, Receivables, net). | |
Approximately 40.2%, 41.0% and 46.0% of the Company’s “Net consumer and other product sales” during Fiscal 2014, 2013 and 2012, respectively, occurred outside of the U.S.. These sales and related receivables are subject to varying degrees of credit, currency, and political and economic risk. The Company monitors these risks and makes appropriate provisions for collectibility based on an assessment of the risks present. | |
Concentrations of Financial Instruments | |
As of September 30, 2014 and 2013, the Company’s most significant investment in one industry was in the banking industry with a fair value of $2,240.3, or 11.6% and $1,892.1, or 11.5%, respectively, of the invested assets portfolio. The Company’s holdings in this industry include investments in 85 different issuers with the top ten investments accounting for 40.0% of the total holdings in this industry. As of September 30, 2014 and 2013, the Company had investments in 4 and 19 issuers that exceeded 10% of stockholders’ equity with a fair value of $768.5 and $1,983.7, or 4.0% and 12.0% of the invested assets portfolio, respectively. Additionally, the Company’s largest concentration in any single issuer as of September 30, 2014 and 2013 had a fair value of $250.0 and $150.7, or 1.3% and 1.0% of the invested assets portfolio, respectively. | |
Concentrations of Financial and Capital Markets Risk | |
The Company is exposed to financial and capital markets risk, including changes in interest rates and credit spreads which can have an adverse effect on the Company’s results of operations, financial condition and liquidity. The Company expects to continue to face challenges and uncertainties that could adversely affect the Company’s results of operations and financial condition. | |
The Company’s exposure to interest rate risk relates primarily to the market price and cash flow variability associated with changes in interest rates. A rise in interest rates, in the absence of other countervailing changes, will decrease the net unrealized gain position of the Company’s investment portfolio and, if long-term interest rates rise dramatically within a six to twelve month time period, certain of the Company’s products may be exposed to disintermediation risk. Disintermediation risk refers to the risk that policyholders may surrender their contracts in a rising interest rate environment, requiring the Company to liquidate assets in an unrealized loss position. This risk is mitigated to some extent by the high level of surrender charge protection provided by FGL’s products. | |
Concentration of Reinsurance Risk | |
The Company has a significant concentration of reinsurance with Wilton Reassurance Company (“Wilton Re”) (see Note 19, Reinsurance) that could have a material impact on the Company’s financial position in the event that Wilton Re fails to perform its obligations under the various reinsurance treaties. Wilton Re is a wholly owned subsidiary of Canada Pension Plan Investment Board (“CPPIB”). CPPIB has a AAA credit rating from Standard & Poor’s Ratings Services (“S&P”) as of September 30, 2014. As of September 30, 2014 and 2013, the net amount recoverable from Wilton Re was $1,508.8 and $1,337.7, respectively. FGL monitors both the financial condition of individual reinsurers and risk concentration arising from similar geographic regions, activities and economic characteristics of reinsurers to reduce the risk of default by such reinsurers. |
Acquisitions
Acquisitions | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||||
Acquisitions | ' | |||||||||||||||
Acquisitions | ||||||||||||||||
Spectrum Brands’ Acquisition of Stanley Black & Decker’s Hardware and Home Improvement Business | ||||||||||||||||
On December 17, 2012, Spectrum Brands completed the Hardware Acquisition of the HHI Business from Stanley Black & Decker. A portion of the HHI Business, consisting of the purchase of certain assets of TLM Taiwan, closed on April 8, 2013. | ||||||||||||||||
The HHI Business is a major manufacturer and supplier of residential locksets, residential builders’ hardware and faucets with a portfolio of recognized brand names, including Kwikset, Weiser, Baldwin, National Hardware, Stanley, and Pfister, as well as patented technologies such as the SmartKey, a re-keyable lockset technology, and Smart Code Home Connect. Customers of the HHI Business include retailers, non-retail distributors and homebuilders. Headquartered in Lake Forest, California, the HHI Business has a global sales force and operates manufacturing and distribution facilities in the U.S., Canada, Mexico and Asia. | ||||||||||||||||
The results of the HHI Business operations since December 17, 2012, excluding TLM Taiwan, are included in the Company’s Consolidated Statements of Operations. The results of TLM Taiwan operations since April 8, 2013 are included in the Company’s Consolidated Statements of Operations. | ||||||||||||||||
Valuation of Assets and Liabilities | ||||||||||||||||
The preliminary fair values of net tangible and intangible assets acquired and liabilities assumed in connection with the purchase of the HHI Business, excluding TLM Taiwan, have been recognized in the Consolidated Balance Sheets based upon their preliminary values at December 17, 2012. The preliminary fair values of the net tangible and intangible assets acquired and liabilities assumed in connection with the TLM Taiwan purchase have been recognized in the Consolidated Balance Sheets based upon their preliminary values at April 8, 2013. The excess of the purchase price over the preliminary fair values of the net tangible and intangible assets was recorded as goodwill, and includes value associated with greater product diversity, stronger relationships with core retail partners, cross-selling opportunities in all channels and a new platform for potential future global growth using the Spectrum Brands’ existing international infrastructure, most notably in Europe. The majority of goodwill recorded is not expected to be deductible for income tax purposes. The acquisition accounting for the HHI Business has been finalized. | ||||||||||||||||
The valuation of the assets acquired and liabilities assumed for the HHI Business, including a reconciliation to the preliminary valuation reported as of December 30, 2012, is as follows: | ||||||||||||||||
HHI Business Preliminary Valuation | TLM Taiwan Preliminary Valuation | |||||||||||||||
December 30, | June 30, | Adjustments/reclassifications | September 30, | |||||||||||||
2012 | 2013 | 2013 | ||||||||||||||
Cash | $ | 17.4 | $ | 0.8 | $ | 5.8 | $ | 24 | ||||||||
Accounts receivable | 104.6 | — | 4 | 108.6 | ||||||||||||
Inventory | 207.2 | 1.1 | 0.1 | 208.4 | ||||||||||||
Prepaid expenses and other | 13.3 | 2.2 | (6.2 | ) | 9.3 | |||||||||||
Property, plant and equipment | 104.5 | 36.8 | (2.9 | ) | 138.4 | |||||||||||
Intangible assets | 470 | 17.1 | 2 | 489.1 | ||||||||||||
Other long-term assets | 3.1 | 0.1 | 4.4 | 7.6 | ||||||||||||
Total assets acquired | 920.1 | 58.1 | 7.2 | 985.4 | ||||||||||||
Accounts payable | 130.1 | — | 8 | 138.1 | ||||||||||||
Deferred tax liability - current | 7.1 | — | 0.1 | 7.2 | ||||||||||||
Accrued liabilities | 37.6 | 0.2 | 5 | 42.8 | ||||||||||||
Deferred tax liability - long-term | 104.7 | 1.9 | 9.8 | 116.4 | ||||||||||||
Other long-term liabilities | 11.2 | 8.1 | 0.4 | 19.7 | ||||||||||||
Total liabilities assumed | 290.7 | 10.2 | 23.3 | 324.2 | ||||||||||||
Total identifiable net assets | 629.4 | 47.9 | (16.1 | ) | 661.2 | |||||||||||
Non-controlling interests | (2.2 | ) | — | (1.7 | ) | (3.9 | ) | |||||||||
Goodwill | 662.1 | 45.6 | 10.1 | 717.8 | ||||||||||||
Total net assets acquired | $ | 1,289.30 | $ | 93.5 | $ | (7.7 | ) | $ | 1,375.10 | |||||||
Since the preliminary valuation on December 30, 2012, Spectrum Brands recorded $45.6 of goodwill related to the acquisition of TLM Taiwan on April 8, 2013, and recorded adjustments to the preliminary valuation of assets and liabilities, excluding TLM Taiwan, resulting in a net increase to goodwill of $10.1. The preliminary goodwill increased $9.8 as a result of recording certain state and foreign valuation allowances against deferred tax assets, $2.9 resulting from a reduction in certain property, plant and equipment asset values and $7.0 from changes in working capital and other asset and liability accounts based on new information obtained by Spectrum Brands. The preliminary goodwill decreased $7.7 as a result of the final working capital adjustment related to the December 17, 2012 close and $2.0 as a result of new information related to intangible assets which increased their value. The changes in estimates were the result of additional accounting information provided by Stanley Black & Decker during the period, as well as items identified by management. The provisional measurements of fair value set forth above were finalized on September 30, 2013. | ||||||||||||||||
Pre-Acquisition Contingencies Assumed | ||||||||||||||||
Spectrum Brands has evaluated and continues to evaluate pre-acquisition contingencies relating to the HHI Business that existed as of the acquisition date. Based on the evaluation to date, Spectrum Brands has preliminarily determined that certain pre-acquisition contingencies are probable in nature and estimable as of the acquisition date. Accordingly, Spectrum Brands has recorded its best estimates for these contingencies as part of the preliminary valuation of the assets and liabilities acquired for the HHI Business. Further adjustments to pre-acquisition contingency amounts will be reflected in the Company’s results of operations. | ||||||||||||||||
Valuation Adjustments | ||||||||||||||||
Spectrum Brands performed a preliminary valuation of the assets and liabilities of the HHI Business, excluding TLM Taiwan, at December 17, 2012. Significant adjustments as a result of the valuation and the bases for their determination are summarized as follows: | ||||||||||||||||
• | Inventories - An adjustment of $31.0 was recorded to adjust inventory to fair value. Finished goods were valued at estimated selling prices less the sum of costs of disposal and a reasonable profit allowance for the selling effort. | |||||||||||||||
• | Property, plant and equipment, net - An adjustment of $10.0 was recorded to adjust the net book value of property, plant and equipment to fair value giving consideration to the highest and best use of the assets. The valuation of the property, plant and equipment was based on the cost approach. | |||||||||||||||
• | Certain indefinite-lived intangible assets were valued using a relief from royalty methodology. Customer relationships and certain definite-lived intangible assets were valued using a multi-period excess earnings method. The total fair value of indefinite and definite lived intangibles was $489.1. A summary of the significant key inputs is as follows: | |||||||||||||||
• | Spectrum Brands valued customer relationships using the income approach, specifically the multi-period excess earnings method. In determining the fair value of the customer relationships, the multi-period excess earnings approach values the intangible asset at the present value of the incremental after-tax cash flows attributable only to the customer relationship after deducting contributory asset charges. The incremental after-tax cash flows attributable to the subject intangible asset are then discounted to their present value. Only expected sales from current customers were used, which included an expected growth rate of 2.5% - 15.5%. Spectrum Brands assumed a customer retention rate of approximately 95.0%, which was supported by historical retention rates. Income taxes were estimated at 17.0% - 35.0% and amounts were discounted using a rate of 12.0%. The customer relationships were valued at $90.0 under this approach and will be amortized over 20 years. | |||||||||||||||
• | Spectrum Brands valued indefinite lived trade names and trademarks using the income approach, specifically the relief from royalty method. Under this method, the asset value was determined by estimating the hypothetical royalties that would have to be paid if the trade name was not owned. Royalty rates were selected based on consideration of several factors, including prior transactions of the HHI Business, related trademarks and trade names, other similar trademark licensing and transaction agreements and the relative profitability and perceived contribution of the trademarks and trade names. Royalty rates used in the determination of the fair values of trade names and trademarks ranged from 3.0% - 5.0% of expected net sales related to the respective trade names and trademarks. Spectrum Brands anticipates using the majority of the trade names and trademarks for an indefinite period as demonstrated by the sustained use of each subject trademark. In estimating the fair value of the trademarks and trade names, net sales for significant trade names and trademarks were estimated to grow at a rate of 2.5% - 5.0% annually with a terminal year growth rate of 2.5%. Income taxes were estimated at 35.0% and amounts were discounted using a rate of 12.0%. Trade name and trademarks were valued at $331.0 under this approach. | |||||||||||||||
• | Spectrum Brands valued definite lived trade names using the income approach, specifically the relief from royalty method. Under this method, the asset value was determined by estimating the hypothetical royalties that would have to be paid if the trade name was not owned. Royalty rates were selected based on consideration of several factors, including prior transactions of the HHI Business, related trademarks and trade names, other similar trademark licensing and transaction agreements and the relative profitability and perceived contribution of the trademarks and trade names. The royalty rates used in the determination of the fair values of the trade names ranged from 1.0% - 3.5% of expected net sales related to the respective trade name. Spectrum Brands assumed an 8 year useful life of the trade name. In estimating the fair value of the trade name, net sales for the trade name were estimated to grow at a rate of 2.5% - 15.5% annually. Income taxes were estimated at 17.0% - 35.0% and amounts were discounted using a rate of 12.0%. The trade names were valued at $4.1 under this approach. | |||||||||||||||
• | Spectrum Brands valued a trade name license agreement using the income approach, specifically the relief from royalty method. Under this method, the asset value was determined by estimating the hypothetical royalties that would have to be paid if the trade name was not owned. Royalty rates were selected based on consideration of several factors, including prior transactions of the HHI Business, related trademarks and trade names, other similar trademark licensing and transaction agreements and the relative profitability and perceived contribution of the trademarks and trade names. The royalty rate used in the determination of the fair value of the trade name license agreement was 4.0% of expected net sales related to the respective trade name. In estimating the fair value of the trade name license agreement, net sales were estimated to grow at a rate of 2.5% - 5.0% annually. Spectrum Brands assumed a 5 year useful life of the trade name license agreement. Income taxes were estimated at 35.0% and amounts were discounted using a rate of 12.0%. The trade name license agreement was valued at $13.0 under this approach. | |||||||||||||||
• | Spectrum Brands valued technology using the income approach, specifically the relief from royalty method. Under this method, the asset value was determined by estimating the hypothetical royalties that would have to be paid if the technology was not owned. Royalty rates were selected based on consideration of several factors, including prior transactions of the HHI Business, related licensing agreements and the importance of the technology and profit levels, among other considerations. Royalty rates used in the determination of the fair values of technologies ranged from 4.0% - 5.0% of expected net sales related to the respective technology. Spectrum Brands anticipates using these technologies through the legal life of the underlying patent and therefore the expected life of these technologies was equal to the remaining legal life of the underlying patents which was 10 years. In estimating the fair value of the technologies, net sales were estimated to grow at a rate of 2.5% - 31.0% annually. Income taxes were estimated at 35.0% and amounts were discounted using the rate of 12.0%. The technology assets were valued at $51.0 under this approach. | |||||||||||||||
• | Deferred tax liabilities, net - An adjustment of $123.6 was recorded to adjust deferred taxes for the preliminary fair value adjustments made in accounting for the purchase. | |||||||||||||||
Compass (formerly the EXCO/HGI JV) | ||||||||||||||||
Compass was formed on February 14, 2013 through transactions between subsidiaries of EXCO and HGI, resulting in the formation of the General Partner and the Partnership. Under the terms of the respective agreements, Compass acquired certain oil and natural gas assets from EXCO for $725.0 of total consideration, subject to certain customary closing adjustments of $30.5, or a net purchase price of $694.5. Immediately after the closing and the consummation of the transactions, the ownership in the Partnership was 73.5% by HGI and 24.5% by EXCO and 2.0% by the General Partner. In addition, HGI and EXCO each own a 50.0% member interest in the General Partner and each have equal representation on the General Partner’s board of directors. As at September 30, 2014 the ownership of the Partnership and General Partnership translates into an economic ownership of Compass of 74.4%. At the closing, HGI contributed approximately $349.8 in cash (reflecting the effect of closing adjustments and the economic benefits related to the July 1, 2012 effective date) to Compass and EXCO contributed $694.5 of net assets in exchange for cash of $574.8, and retained an interest in the joint venture of $119.1. The payment to EXCO was funded through a combination of cash from HGI’s contribution, and borrowings under the Compass Credit Agreement. | ||||||||||||||||
On March 5, 2013, Compass acquired all of the shallow Cotton Valley assets from an affiliate of BG Group for $130.7, after final purchase price adjustments. This acquisition included oil and natural gas assets in the Danville, Waskom and Holly fields in East Texas and North Louisiana. The assets acquired by Compass represented an incremental working interest in certain properties previously owned by Compass. The acquisition was funded with borrowings from Compass Credit Agreement. | ||||||||||||||||
Compass accounted for the acquisitions in accordance with ASC Topic 805, Business Combinations (“ASC 850”). The following table presents a summary of the fair value of assets acquired and liabilities assumed as part of the acquisition: | ||||||||||||||||
EXCO's Contributed Assets | BG Cotton Valley Assets | |||||||||||||||
14-Feb-13 | 5-Mar-13 | |||||||||||||||
Compass | HGI's Proportionate Interest | Compass | HGI's Proportionate Interest | |||||||||||||
Assets acquired: | ||||||||||||||||
Cash | $ | 0.1 | $ | 0.1 | $ | — | $ | — | ||||||||
Oil and natural gas properties | ||||||||||||||||
Unproved oil and natural gas properties | 65.1 | 48.5 | 7.2 | 5.4 | ||||||||||||
Proved developed and undeveloped oil and natural gas properties | 632.2 | 471 | 130.9 | 97.5 | ||||||||||||
Total oil and natural gas properties | 697.3 | 519.5 | 138.1 | 102.9 | ||||||||||||
Gas gathering and other assets | 32.7 | 24.5 | — | — | ||||||||||||
Liabilities assumed: | ||||||||||||||||
Accounts payable and other current liabilities | (10.8 | ) | (8.0 | ) | — | — | ||||||||||
Other liabilities | (24.8 | ) | (18.5 | ) | (7.4 | ) | (5.5 | ) | ||||||||
Total purchase price | $ | 694.5 | $ | 517.6 | $ | 130.7 | $ | 97.4 | ||||||||
Compass performed a valuation of the assets acquired and liabilities assumed at February 14, 2013 and March 5, 2013. A summary of the key inputs are as follows: | ||||||||||||||||
Oil and Natural Gas Properties - HGI’s proportionate share of the fair value allocated to oil and natural gas properties was $519.5 and $102.9, for Compass and the BG Cotton Valley acquisitions, respectively. The fair value of oil and natural gas properties was determined based on a discounted cash flow model of the estimated reserves. The estimated quantities of reserves utilized assumptions based on the partnership’s internal geological, engineering data and financial data. Compass utilized NYMEX forward strip prices to value the reserves for a period of five years and then held prices flat thereafter. Compass then applied various discount rates depending on the classification of reserves and other risk characteristics. | ||||||||||||||||
Gas Gathering Assets - HGI’s proportionate share of the fair value allocated to gas gathering assets was $21.5. The fair value of these assets was determined based on a market approach using other recent transactions involving gathering and processing assets. The earnings before interest taxes depreciation and amortization (“EBITDA”) multiple based on these market transactions was applied to the projected EBITDA of the gas gathering assets in order to calculate the fair value. | ||||||||||||||||
Asset Retirement Obligations - HGI’s proportionate share of the fair value allocated to asset retirement obligations was $18.5 and $5.5, respectively. These asset retirement obligations represent the present value of the estimated amount to be incurred to plug, abandon and remediate proved producing properties at the end of their productive lives, in accordance with applicable state laws. The fair value was determined based on a discounted cash flow model, which included assumptions of the estimated current abandonment costs, discount rate, inflation rate, and timing associated with the incurrence of these costs. The asset retirement obligations are primarily included in “Other liabilities” in the Consolidated Balance Sheets. | ||||||||||||||||
Supplemental Pro Forma Information | ||||||||||||||||
The following table reflects the Company’s unaudited pro forma results for Fiscal 2013 and 2012 as if the results of the Hardware Acquisition and the acquisition of the Company’s interest in Compass were completed on October 1, 2012 and the results of the HHI Business and Compass had been included for each of the full fiscal periods in 2013 and 2012. | ||||||||||||||||
Fiscal | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Revenues: | ||||||||||||||||
Reported revenues | $ | 5,543.40 | $ | 4,480.70 | ||||||||||||
HHI adjustment | 191.8 | 973.6 | ||||||||||||||
Compass adjustment | 53.7 | 149.3 | ||||||||||||||
Pro forma revenues | $ | 5,788.90 | $ | 5,603.60 | ||||||||||||
Net (loss) income: | ||||||||||||||||
Reported net (loss) income | $ | (69.0 | ) | $ | 110.7 | |||||||||||
HHI adjustment | 4.9 | 76.1 | ||||||||||||||
Compass adjustment | (0.4 | ) | (6.8 | ) | ||||||||||||
Pro forma net (loss) income | $ | (64.5 | ) | $ | 180 | |||||||||||
Basic net (loss) income per common share attributable to controlling interest: | ||||||||||||||||
Reported net (loss) income per common share | $ | (0.67 | ) | $ | 0.15 | |||||||||||
HHI adjustment | 0.04 | 0.55 | ||||||||||||||
Compass adjustment | — | (0.05 | ) | |||||||||||||
Pro forma net (loss) income per common share | $ | (0.63 | ) | $ | 0.65 | |||||||||||
Diluted net (loss) income per common share attributable to controlling interest: | ||||||||||||||||
Reported diluted net (loss) income per common share | $ | (0.67 | ) | $ | 0.15 | |||||||||||
HHI adjustment | 0.04 | 0.54 | ||||||||||||||
Compass adjustment | — | (0.05 | ) | |||||||||||||
Pro forma diluted net (loss) income per common share | $ | (0.63 | ) | $ | 0.64 | |||||||||||
Individually Insignificant Acquisitions | ||||||||||||||||
Black Flag | ||||||||||||||||
On October 31, 2011, Spectrum Brands completed the $43.8 cash acquisition of the Black Flag and TAT trade names (“Black Flag”) from The Homax Group, Inc., a portfolio company of Olympus Partners. The Black Flag and TAT product lines consist of liquids, aerosols, baits and traps that control ants, spiders, wasps, bedbugs, fleas, flies, roaches, yellow jackets and other insects. In accordance with ASC 805, Spectrum Brands accounted for the acquisition by applying the acquisition method of accounting. | ||||||||||||||||
The results of Black Flag’s operations since October 31, 2011 were included in the accompanying Consolidated Statements of Operations. The purchase price of $43.8 has been allocated to the acquired net assets, including $25.0 of identifiable intangible assets, $15.9 of goodwill, $2.5 of inventories, and $0.4 of properties and other assets. | ||||||||||||||||
FURminator | ||||||||||||||||
On December 22, 2011, Spectrum Brands completed the $141.8 cash acquisition of FURminator, Inc. (“FURminator”) from HKW Capital Partners III, L.P. FURminator is a leading worldwide provider of branded and patented pet deshedding products. In accordance with ASC 805, Spectrum Brands accounted for the acquisition by applying the acquisition method of accounting. | ||||||||||||||||
The results of FURminator operations since December 22, 2011 are included in the accompanying Consolidated Statements of Operations. The purchase price of $141.8 has been allocated to the acquired net assets, including $79.0 of identifiable intangible assets, $68.5 of goodwill, $9.2 of current assets, $0.7 of properties and $15.7 of current and long-term liabilities. | ||||||||||||||||
Shaser | ||||||||||||||||
On November 8, 2012, Spectrum Brands completed the cash acquisition of an approximately 56% interest in Shaser Biosciences, Inc. (“Shaser”). Shaser is a global technology leader in developing energy-based, aesthetic dermatological technology for home use devices. This acquisition was not significant individually. | ||||||||||||||||
The following table summarizes the consideration paid for Shaser: | ||||||||||||||||
November 8, | ||||||||||||||||
2012 | ||||||||||||||||
Negotiated sales price | $ | 50 | ||||||||||||||
Preliminary working capital adjustment | (0.4 | ) | ||||||||||||||
Final working capital adjustment | 0.1 | |||||||||||||||
Final purchase price | $ | 49.7 | ||||||||||||||
The purchase agreement provides Spectrum Brands with an option, exercisable solely at Spectrum Brands’ discretion, to acquire the remaining 44% interest of Shaser (the “Call Option”). The Call Option is exercisable any time between January 1, 2017 and March 31, 2017 at a price equal to the higher of 1.0x trailing revenues or 7.0x adjusted trailing EBITDA for calendar year ended December 31, 2016. | ||||||||||||||||
The results of Shaser’s operations since November 8, 2012 were included in the Company’s Consolidated Statements of Operations. | ||||||||||||||||
Valuation of Assets and Liabilities | ||||||||||||||||
The assets acquired and liabilities assumed in the Shaser acquisition have been measured at their fair values at November 8, 2012 as set forth below. The excess of the purchase price over the fair values of the net tangible assets and identifiable intangible assets was recorded as goodwill, which includes value associated with the assembled workforce including an experienced research team, and is not expected to be deductible for income tax purposes. The fair values recorded were determined based upon a valuation and the estimates and assumptions used in such valuation are final and the measurement period has closed. | ||||||||||||||||
The fair values recorded for the assets acquired and liabilities assumed for Shaser, including a reconciliation to the preliminary valuation reported as of December 30, 2012 were as follows: | ||||||||||||||||
Preliminary Valuation | ||||||||||||||||
December 30, | Adjustments/reclassifications | September 30, | ||||||||||||||
2012 | 2013 | |||||||||||||||
Cash | $ | 0.9 | $ | — | $ | 0.9 | ||||||||||
Intangible asset | 35.5 | (6.2 | ) | 29.3 | ||||||||||||
Other assets | 2.7 | (2.5 | ) | 0.2 | ||||||||||||
Total assets acquired | 39.1 | (8.7 | ) | 30.4 | ||||||||||||
Total liabilities assumed | 14.4 | (5.6 | ) | 8.8 | ||||||||||||
Total identifiable net assets | 24.7 | (3.1 | ) | 21.6 | ||||||||||||
Non-controlling interest | (39.0 | ) | (0.1 | ) | (39.1 | ) | ||||||||||
Goodwill | 63.9 | 3.3 | 67.2 | |||||||||||||
Total identifiable net assets | $ | 49.6 | $ | 0.1 | $ | 49.7 | ||||||||||
Subsequent to the preliminary purchase accounting, Spectrum Brands recorded adjustments to the preliminary valuation of assets and liabilities resulting in a net increase to goodwill of $3.3. Goodwill increased as a result of further information to support a key valuation factor that impacted the valuation of the technology asset acquired, and the resulting changes to the deferred tax asset and liabilities. This revised information was provided by Shaser during the period. | ||||||||||||||||
Pre-Acquisition Contingencies Assumed | ||||||||||||||||
Spectrum Brands evaluated pre-acquisition contingencies relating to Shaser that existed as of the acquisition date. Based on the evaluation, Spectrum Brands determined that certain pre-acquisition contingencies were probable in nature and estimable as of the acquisition date. Accordingly, Spectrum Brands recorded its best estimates for these contingencies as part of the purchase accounting for Shaser. | ||||||||||||||||
Valuation Adjustments | ||||||||||||||||
Spectrum Brands performed a valuation of the acquired proprietary technology assets, the non-controlling interest and the Call Option related to Shaser at November 8, 2012. A summary of the significant key inputs is as follows: | ||||||||||||||||
• | Spectrum Brands valued the technology assets using the income approach, specifically the relief from royalty method. Under this method, the asset value was determined by estimating the hypothetical royalties that would have to be paid if the technology was not owned. Royalty rates were selected based on consideration of several factors, including prior transactions of Shaser, related licensing agreements and the importance of the technology and profit levels, among other considerations. The royalty rate used in the determination of the fair value of the technology asset was 10.5% of expected net sales related to the technology. Spectrum Brands anticipates using the technology through the legal life of the underlying patent and therefore the expected life of the technology was equal to the remaining legal life of the underlying patent which was 13 years. In estimating the fair value of the technology, net sales were estimated to grow at a long-term rate of 3.0% annually. Income taxes were estimated at 35.0% and amounts were discounted using the rate of 11.0%. The technology asset was valued at approximately $29.3 under this approach. | |||||||||||||||
• | Spectrum Brands valued the non-controlling interest in Shaser, a private company, by applying both income and market approaches. Under these methods, the non-controlling value was determined by using a discounted cash flow method, a guideline companies method, and a recent transaction approach. In estimating the fair value of the non-controlling interest, key assumptions include (i) cash flow projections based on market participant data and estimates by Spectrum Brands management, with net sales estimated to grow at a terminal growth rate of 3.0% annually, income taxes estimated at 35.0%, and amounts discounted using a rate of 17.0%, (ii) financial multiples of companies deemed to be similar to Shaser, and (iii) adjustments because of lack of control or lack of marketability that market participants would consider when estimating the fair value of the non-controlling interest in Shaser. The non-controlling interest was valued at $39.1 under this approach. | |||||||||||||||
• | Spectrum Brands, in connection with valuing the non-controlling interest in Shaser, also valued the Call Option. In addition to the valuation methods and key assumptions discussed above, Spectrum Brands compared the forecasted revenue and EBITDA multiples, as defined, associated with the Call Option to current guideline companies. The Call Option was determined to have an immaterial value under this approach. | |||||||||||||||
Liquid Fence | ||||||||||||||||
On January 2, 2014, Spectrum Brands completed the $35.8 acquisition of Liquid Fence, a producer of animal repellents. This acquisition was not considered to be significant. | ||||||||||||||||
The following table summarizes the consideration paid by Spectrum Brands for Liquid Fence: | ||||||||||||||||
January 2, 2014 | ||||||||||||||||
Cash paid to seller at close | $ | 24.8 | ||||||||||||||
Promissory note due to seller | 9.5 | |||||||||||||||
Contingent liability | 1.5 | |||||||||||||||
Preliminary purchase price | $ | 35.8 | ||||||||||||||
The promissory note will be paid in four semi-annual installments over 24 months from the close of the transaction. | ||||||||||||||||
The results of Liquid Fence’s operations since January 2, 2014 were included in the Company’s Consolidated Statements of Operations. | ||||||||||||||||
Valuation of Assets and Liabilities | ||||||||||||||||
The assets acquired and liabilities assumed in the Liquid Fence acquisition have been measured at their fair values at January 2, 2014 as set forth below. The excess of the purchase price over the fair values of the net tangible assets and identifiable intangible assets was recorded as goodwill, which includes value associated with the assembled workforce including an experienced research team, and is expected to be deductible for income tax purposes. The fair values recorded were determined based upon a valuation and the estimates and assumptions used in such valuation. The acquisition accounting for Liquid Fence has been finalized. | ||||||||||||||||
The fair values recorded for the assets acquired and liabilities assumed for Liquid Fence were as follows: | ||||||||||||||||
2-Jan-14 | ||||||||||||||||
Cash | $ | — | ||||||||||||||
Accounts receivable | 1.2 | |||||||||||||||
Inventories | 2.2 | |||||||||||||||
Property, plant and equipment, net | 0.1 | |||||||||||||||
Intangible assets | 26.9 | |||||||||||||||
Total assets acquired | 30.4 | |||||||||||||||
Total liabilities assumed | 1.6 | |||||||||||||||
Total identifiable net assets less goodwill | 28.8 | |||||||||||||||
Goodwill | 7 | |||||||||||||||
Total identifiable net assets | $ | 35.8 | ||||||||||||||
Pre-Acquisition Contingencies Assumed | ||||||||||||||||
Spectrum Brands has evaluated and continues to evaluate pre-acquisition contingencies relating to Liquid Fence that existed as of the acquisition date. Based on the evaluation to date, Spectrum Brands determined that certain pre-acquisition contingencies are probable in nature and estimable as of the acquisition date. Accordingly, Spectrum Brands recorded its best estimates for these contingencies as part of the purchase accounting for Liquid Fence. Further adjustments to pre-acquisition contingency amounts will be reflected in the Company’s results of operations. | ||||||||||||||||
Valuation Adjustments | ||||||||||||||||
Spectrum Brands performed a valuation of the acquired trade names, proprietary technology assets, customer relationships and a contingent earn-out liability at January 2, 2014. | ||||||||||||||||
A summary of the significant key inputs is as follows: | ||||||||||||||||
• | Spectrum Brands valued the technology assets related to formulas and processes, using the income approach, specifically the excess earnings method. Under this method, the asset value was determined by estimating the earnings attributable to the technology assets, adjusted for contributory asset charges. In estimating the fair value of the technology, net sales and associated earnings were forecasted and adjusted for a technical obsolescence factor to isolate the forecasted sales and earnings attributable to the acquired technology assets. The forecasted technology earnings were discounted to present value to arrive at the concluded fair value. Spectrum Brands anticipates using the technology asset over a useful life of 17 years which is generally determined by assessing the time period in which substantially all of the discounted cash flows are expected to be generated. The technology asset was valued at approximately $20.5 under this approach. | |||||||||||||||
• | Spectrum Brands valued an indefinite-lived trade name using the income approach, specifically the relief from royalty method. Under this method, the asset value was determined by estimating the hypothetical royalties that would have to be paid if the trade name was not owned. Royalty rates were selected based on consideration of several factors, including prior transactions of Liquid Fence, related trademarks and trade names, other similar trademark licensing and transaction agreements and the relative profitability and perceived contribution of the trademarks and trade names. Trade name and trademarks were valued at $5.1 under this approach. | |||||||||||||||
• | Spectrum Brands valued customer relationships using the distributor approach. Under this method, the asset value was determined by estimating the hypothetical earnings before interest and taxes ("EBIT") that a comparable distributor would earn, further adjusted for contributory asset charges. In determining the fair value of the customer relationships, the distributor approach values the intangible asset at the present value of the incremental after-tax cash flows. The customer relationships were valued at $1.3 under this approach and will be amortized over 15 years. | |||||||||||||||
• | Spectrum Brands valued a contingent liability related to additional payments that may be made to the selling company. This liability was calculated based on the probability weighted present value of expected payments. This contingent liability is based on the achievement of specific revenue milestones through both January 31, 2015 and January 31, 2016. The contingent liability was valued at $1.5 under this approach. | |||||||||||||||
Frederick’s of Hollywood | ||||||||||||||||
On May 30, 2014, HGI, through its wholly owned subsidiary HGI Funding, completed the acquisition of a 62.0% interest in FOH, a retailer of women's apparel and related products. | ||||||||||||||||
The following table summarizes the consideration paid for FOH by the Company: | ||||||||||||||||
30-May-14 | ||||||||||||||||
Fair value of previously held equity interest (Series B preferred stock) | $ | 12 | ||||||||||||||
Series A preferred stock purchase | 1.5 | |||||||||||||||
Preliminary purchase price | $ | 13.5 | ||||||||||||||
Prior to the transaction, FOH was a publicly listed company and HGI Funding owned all of FOH’s series B preferred stock. In May 2014, HGI Funding acquired part of FOH's Series A preferred stock for $1.5. At that point HGI Funding and certain of the FOH’s other common and preferred shareholders (together, the “Consortium”) beneficially owned 88.6% of FOH’s common stock. Shares of FOH’s shareholders who were not members of the Consortium were repurchased by FOH for $0.27 per share in cash, funded from additional debt incurred by FOH as part of the going-private transaction. Following the completion of the going-private transaction, FOH’s common stock ceased being quoted on the Over-the-Counter Bulletin Board Quarterly Trade (“OTCQB”), and FOH became a privately-held Company owned by the Consortium. The acquisition was accomplished through FOHG, an entity controlled by the Consortium that was formed for the purpose of the transaction. In exchange for their respective holdings in FOH, members of the Consortium received membership units in FOHG proportionate to their prior beneficial interests in FOH. Upon completion of the exchange, FOH became a wholly owned subsidiary of FOHG. HGI Funding exchanged its FOH series A and series B preferred shares for an 62.0% equity interest in FOHG. Immediately following the acquisition described above, the Company assigned and transferred its ownership of interest in FOHG to HGI Global Holdings, LLC, a wholly-owned subsidiary of HGI. | ||||||||||||||||
The results of FOH’s operations since May 30, 2014 are included in HGI’s Consolidated Statements of Operations, and are included within the “Corporate and Other” category in HGI’s segment presentation. | ||||||||||||||||
Preliminary Valuation of Assets and Liabilities | ||||||||||||||||
The assets acquired and liabilities assumed in the FOH acquisition have been measured at their fair values at May 30, 2014 as set forth below. The excess of the purchase price over the fair values of the net tangible assets and identifiable intangible assets was recorded as goodwill, which includes value associated with the assembled workforce including an experienced retail team, and is not expected to be deductible for income tax purposes. The preliminary fair values recorded were determined based upon a valuation and the estimates and assumptions used in such valuation are subject to change within the measurement period (up to one year from the acquisition date). Any such change could be significant. The primary areas of acquisition accounting that are not yet finalized relate to amounts for intangible assets and residual goodwill. | ||||||||||||||||
The preliminary fair values recorded for the assets acquired and liabilities assumed for FOH are as follows: | ||||||||||||||||
Preliminary Valuation | ||||||||||||||||
30-May-14 | ||||||||||||||||
Cash | $ | 0.8 | ||||||||||||||
Accounts receivable | 0.7 | |||||||||||||||
Inventories | 12.4 | |||||||||||||||
Property, plant and equipment, net | 1.2 | |||||||||||||||
Intangible assets | 41.7 | |||||||||||||||
Other Assets | 2.8 | |||||||||||||||
Total assets acquired | 59.6 | |||||||||||||||
Total liabilities assumed | 81.7 | |||||||||||||||
Total identifiable net assets | (22.1 | ) | ||||||||||||||
Non-controlling interest | (8.3 | ) | ||||||||||||||
Goodwill | 43.9 | |||||||||||||||
Total identifiable net assets | $ | 13.5 | ||||||||||||||
Preliminary Valuation Adjustments | ||||||||||||||||
The Company performed a preliminary valuation of the assets and liabilities of FOH at May 30, 2014. The significant adjustments as a result of the valuation and the bases for their determination are summarized as follows: | ||||||||||||||||
• | The Company valued indefinite lived trade names and trademarks using the income approach, specifically the relief from royalty method. Under this method, the asset value was determined by estimating the hypothetical royalties that would have to be paid if the trade name was not owned. Royalty rates were selected based on consideration of several factors, including prior transactions of the FOH Business, related trademarks and trade names, other similar trademark licensing and transaction agreements and the relative profitability and perceived contribution of the trademarks and trade names. Royalty rates used in the determination of the fair values of trade names and trademarks ranged from 0.25% - 8.00% of expected net sales related to the respective trade names and trademarks. The Company anticipates using the majority of the trade names and trademarks for an indefinite period as demonstrated by the sustained use of the trademark. In estimating the fair value of the trademarks and trade names, net sales for significant trade names and trademarks were estimated to grow at a residual growth rate of 3.0%. Income taxes were estimated at 39.3% and amounts were discounted using a rate of 16.0%. Trade name and trademarks were valued at $41.7 under this approach. | |||||||||||||||
• | An adjustment of $8.0 was recorded to deferred taxes for the preliminary fair value adjustments made in accounting for the purchase. | |||||||||||||||
• | The Company recorded a liability associated with unfavorable leases of $1.3 and an asset associated with favorable leases for $0.4 based on lease market rates at the time of the acquisition. Favorable and unfavorable lease assets and liabilities will be amortized over their expected lives which approximates the period of time that the favorable or unfavorable lease terms will be in effect. | |||||||||||||||
CorAmerica | ||||||||||||||||
In May 2014, FIAM entered into an agreement to acquire a controlling interest in CorAmerica, a commercial real estate investment firm. As part of the transaction, FIAM has acquired a 17.0% member interest and the right to appoint 3 of 5 members of CorAmerica's Board of Directors. Pursuant to the terms of the agreement, and subject to certain repurchase covenants which would give the CorAmerica founders the right to repurchase their interests, FIAM is required to acquire an additional 34.0% in May 2015. At the time of the agreement, the Company concluded that FIAM has the ability to control the operations of CorAmerica for its own benefit, and to consolidate CorAmerica's results of operations and financial position. | ||||||||||||||||
Acquisition and Integration Related Charges | ||||||||||||||||
Acquisition and integration related charges reflected in “Selling, acquisition, operating and general expenses” in the accompanying Consolidated Statements of Operations include, but are not limited to transaction costs such as banking, legal and accounting professional fees directly related to an acquisition or potential acquisition, termination and related costs for transitional and certain other employees, integration related professional fees and other post business combination related expenses. | ||||||||||||||||
The following table summarizes acquisition and integration related charges incurred by the Company for Fiscal 2014, 2013 and 2012: | ||||||||||||||||
Fiscal | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
SB/RH Merger | ||||||||||||||||
Integration costs | $ | 2.4 | $ | 3.5 | $ | 10.2 | ||||||||||
Employee termination charges | — | 0.2 | 3.9 | |||||||||||||
Legal and professional fees | — | — | 1.5 | |||||||||||||
2.4 | 3.7 | 15.6 | ||||||||||||||
HHI Business | ||||||||||||||||
Legal and professional fees | 2.2 | 27.7 | — | |||||||||||||
Integration costs | 8.7 | 8.9 | — | |||||||||||||
Employee termination charges | 0.2 | 0.3 | — | |||||||||||||
11.1 | 36.9 | — | ||||||||||||||
Compass | 0.8 | 9.2 | — | |||||||||||||
CorAmerica | 1.1 | — | — | |||||||||||||
Frederick's of Hollywood | 0.1 | — | — | |||||||||||||
Liquid Fence | 3.5 | — | — | |||||||||||||
FURminator | 0.1 | 2.3 | 7.9 | |||||||||||||
BlackFlag | — | 0.2 | 3.4 | |||||||||||||
Shaser | 0.9 | 4.8 | — | |||||||||||||
Other | 4.4 | 5.3 | 7.9 | |||||||||||||
Total acquisition and integration related charges | $ | 24.4 | $ | 62.4 | $ | 34.8 | ||||||||||
Investments
Investments | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Investments | ' | |||||||||||||||||||||||
Investments | ||||||||||||||||||||||||
The Company’s consolidated investments are summarized as follows: | ||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||
Cost or Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Carrying Value | ||||||||||||||||||||
Fixed-maturity securities, available-for sale | ||||||||||||||||||||||||
Asset-backed securities | $ | 1,800.80 | $ | 10.9 | $ | (18.8 | ) | $ | 1,792.90 | $ | 1,792.90 | |||||||||||||
Commercial mortgage-backed securities | 617.6 | 21.3 | (2.0 | ) | 636.9 | 636.9 | ||||||||||||||||||
Corporates | 9,345.50 | 499.2 | (48.9 | ) | 9,795.80 | 9,795.80 | ||||||||||||||||||
Hybrids | 1,279.10 | 52.2 | (15.2 | ) | 1,316.10 | 1,316.10 | ||||||||||||||||||
Municipals | 1,149.90 | 116.2 | (6.3 | ) | 1,259.80 | 1,259.80 | ||||||||||||||||||
Agency residential mortgage-backed securities | 104.3 | 3.1 | (0.1 | ) | 107.3 | 107.3 | ||||||||||||||||||
Non-agency residential mortgage-backed securities | 1,880.50 | 137.2 | (11.0 | ) | 2,006.70 | 2,006.70 | ||||||||||||||||||
U.S. Government | 291 | 6.4 | (1.4 | ) | 296 | 296 | ||||||||||||||||||
Total fixed-maturity securities | 16,468.70 | 846.5 | (103.7 | ) | 17,211.50 | 17,211.50 | ||||||||||||||||||
Equity securities | ||||||||||||||||||||||||
Available-for-sale | 645.7 | 23 | (5.1 | ) | 663.6 | 663.6 | ||||||||||||||||||
Held for trading | 141.2 | 8.2 | (44.9 | ) | 104.5 | 104.5 | ||||||||||||||||||
Total equity securities | 786.9 | 31.2 | (50.0 | ) | 768.1 | 768.1 | ||||||||||||||||||
Derivatives | 177.7 | 123.3 | (4.7 | ) | 296.3 | 296.3 | ||||||||||||||||||
Asset-based loans | 811.6 | — | — | 811.6 | 811.6 | |||||||||||||||||||
Other invested assets | 164.9 | 0.1 | — | 165 | 165 | |||||||||||||||||||
Total investments | $ | 18,409.80 | $ | 1,001.10 | $ | (158.4 | ) | $ | 19,252.50 | $ | 19,252.50 | |||||||||||||
September 30, 2013 | ||||||||||||||||||||||||
Cost or Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Carrying Value | ||||||||||||||||||||
Fixed-maturity securities, available-for-sale | ||||||||||||||||||||||||
Asset-backed securities | $ | 1,505.70 | $ | 22.6 | $ | (5.2 | ) | $ | 1,523.10 | $ | 1,523.10 | |||||||||||||
Commercial mortgage-backed securities | 431.3 | 24.7 | (1.6 | ) | 454.4 | 454.4 | ||||||||||||||||||
Corporates | 9,314.70 | 288.7 | (185.1 | ) | 9,418.30 | 9,418.30 | ||||||||||||||||||
Hybrids | 412.6 | 19.5 | (3.3 | ) | 428.8 | 428.8 | ||||||||||||||||||
Municipals | 998.8 | 49 | (40.8 | ) | 1,007.00 | 1,007.00 | ||||||||||||||||||
Agency residential mortgage-backed securities | 96.5 | 2.4 | (0.3 | ) | 98.6 | 98.6 | ||||||||||||||||||
Non-agency residential mortgage-backed securities | 1,304.00 | 77.4 | (13.4 | ) | 1,368.00 | 1,368.00 | ||||||||||||||||||
U.S. Government | 998.5 | 7.2 | (3.9 | ) | 1,001.80 | 1,001.80 | ||||||||||||||||||
Total fixed-maturity securities | 15,062.10 | 491.5 | (253.6 | ) | 15,300.00 | 15,300.00 | ||||||||||||||||||
Equity securities | ||||||||||||||||||||||||
Available-for-sale | 274.6 | 6.7 | (10.3 | ) | 271 | 271 | ||||||||||||||||||
Held for trading | 120.1 | 0.6 | (39.2 | ) | 81.5 | 81.5 | ||||||||||||||||||
Total equity securities | 394.7 | 7.3 | (49.5 | ) | 352.5 | 352.5 | ||||||||||||||||||
Derivatives | 141.7 | 88.5 | (8.4 | ) | 221.8 | 221.8 | ||||||||||||||||||
Asset-based loans | 560.4 | — | — | 560.4 | 560.4 | |||||||||||||||||||
Other invested assets | 31.2 | — | — | 31.2 | 31.2 | |||||||||||||||||||
Total investments | $ | 16,190.10 | $ | 587.3 | $ | (311.5 | ) | $ | 16,465.90 | $ | 16,465.90 | |||||||||||||
Included in AOCI were cumulative unrealized gains of $0.9 and unrealized losses of $1.9 related to the non-credit portion of other-than-temporary impairments on non-agency residential mortgage-backed securities at September 30, 2014 and 2013, respectively. The non-agency residential mortgage-backed securities unrealized gains and losses represent the difference between amortized cost and fair value on securities that were previously impaired. There have been no impairments or write downs on any of the non-agency residential mortgage-backed securities purchased in 2014 and 2013. | ||||||||||||||||||||||||
Securities held on deposit with various state regulatory authorities had a fair value of $15,009.3 and $19.4 at September 30, 2014 and 2013, respectively. The increase in securities held on deposit is due to FGL Insurance’s re-domestication from Maryland to Iowa. Under Iowa regulations, insurance companies are required to hold securities on deposit in an amount no less than the Company’s legal reserve as prescribed by Iowa regulations. | ||||||||||||||||||||||||
Maturities of Fixed-maturity Securities | ||||||||||||||||||||||||
The amortized cost and fair value of fixed maturity available-for-sale securities by contractual maturities, as applicable, are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or pre-pay obligations. | ||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||
Amortized Cost | Fair Value | |||||||||||||||||||||||
Corporate, Non-structured Hybrids, Municipal and U.S. Government securities: | ||||||||||||||||||||||||
Due in one year or less | $ | 370 | $ | 372.8 | ||||||||||||||||||||
Due after one year through five years | 2,297.60 | 2,360.20 | ||||||||||||||||||||||
Due after five years through ten years | 3,128.90 | 3,232.70 | ||||||||||||||||||||||
Due after ten years | 5,794.50 | 6,230.00 | ||||||||||||||||||||||
Subtotal | 11,591.00 | 12,195.70 | ||||||||||||||||||||||
Other securities which provide for periodic payments: | ||||||||||||||||||||||||
Asset-backed securities | 1,800.80 | 1,792.90 | ||||||||||||||||||||||
Commercial mortgage-backed securities | 617.6 | 636.9 | ||||||||||||||||||||||
Structured hybrids | 474.5 | 472 | ||||||||||||||||||||||
Agency residential mortgage-backed securities | 104.3 | 107.3 | ||||||||||||||||||||||
Non-agency residential mortgage-backed securities | 1,880.50 | 2,006.70 | ||||||||||||||||||||||
Total fixed maturity available-for-sale securities | $ | 16,468.70 | $ | 17,211.50 | ||||||||||||||||||||
Securities in an Unrealized Loss Position | ||||||||||||||||||||||||
FGL’s available-for-sale securities with unrealized losses are reviewed for potential other-than-temporary impairments. In evaluating whether a decline in value is other-than-temporary, FGL considers several factors including, but not limited to, the following: (1) the extent and the duration of the decline; (2) the reasons for the decline in value (credit event, currency or interest-rate related, including general credit spread widening); and (3) the financial condition of and near-term prospects of the issuer. FGL also considers the ability and intent to hold the investment for a period of time to allow for a recovery of value. | ||||||||||||||||||||||||
FGL analyzes its ability to recover the amortized cost by comparing the net present value of cash flows expected to be collected with the amortized cost of the security. For mortgage-backed and asset-backed securities, cash flow estimates consider the payment terms of the underlying assets backing a particular security, including interest rate and prepayment assumptions, based on data from widely accepted third-party data sources or internal estimates. In addition to interest rate and prepayment assumptions, cash flow estimates also include other assumptions regarding the underlying collateral including default rates and recoveries, which vary based on the asset type and geographic location, as well as the vintage year of the security. For structured securities, the payment priority within the tranche structure is also considered. For all other debt securities, cash flow estimates are driven by assumptions regarding probability of default and estimates regarding timing and amount of recoveries associated with a default. If the net present value is less than the amortized cost of the investment, an other-than-temporary impairment is recognized. FGL has concluded that the fair values of the securities presented in the table below were not other-than-temporarily impaired as of September 30, 2014. | ||||||||||||||||||||||||
The fair value and gross unrealized losses of available-for-sale securities, aggregated by investment category, were as follows: | ||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||
Fair Value | Gross Unrealized | Fair Value | Gross Unrealized | Fair Value | Gross Unrealized | |||||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||||||
Asset-backed securities | $ | 825.8 | $ | (11.8 | ) | $ | 288.2 | $ | (7.0 | ) | $ | 1,114.00 | $ | (18.8 | ) | |||||||||
Commercial mortgage-backed securities | 160.3 | (0.9 | ) | 0.4 | (1.1 | ) | 160.7 | (2.0 | ) | |||||||||||||||
Corporates | 816.6 | (16.3 | ) | 1,127.80 | (32.6 | ) | 1,944.40 | (48.9 | ) | |||||||||||||||
Equities | 180.4 | (2.2 | ) | 54.9 | (2.9 | ) | 235.3 | (5.1 | ) | |||||||||||||||
Hybrids | 258.2 | (2.3 | ) | 290 | (12.9 | ) | 548.2 | (15.2 | ) | |||||||||||||||
Municipals | — | — | 264.9 | (6.3 | ) | 264.9 | (6.3 | ) | ||||||||||||||||
Agency residential mortgage-backed securities | 24.1 | (0.1 | ) | 0.6 | — | 24.7 | (0.1 | ) | ||||||||||||||||
Non-agency residential mortgage-backed securities | 274.4 | (5.7 | ) | 177 | (5.3 | ) | 451.4 | (11.0 | ) | |||||||||||||||
U.S. Government | 37.3 | (0.1 | ) | 81.7 | (1.3 | ) | 119 | (1.4 | ) | |||||||||||||||
Total available-for-sale securities | $ | 2,577.10 | $ | (39.4 | ) | $ | 2,285.50 | $ | (69.4 | ) | $ | 4,862.60 | $ | (108.8 | ) | |||||||||
Total number of available-for-sale securities in an unrealized loss position | 319 | 310 | 629 | |||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||
Fair Value | Gross Unrealized | Fair Value | Gross Unrealized | Fair Value | Gross Unrealized | |||||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||||||
Asset-backed securities | $ | 329.3 | $ | (4.5 | ) | $ | 81.5 | $ | (0.7 | ) | $ | 410.8 | $ | (5.2 | ) | |||||||||
Commercial mortgage-backed securities | 26.6 | (0.5 | ) | 4.9 | (1.1 | ) | 31.5 | (1.6 | ) | |||||||||||||||
Corporates | 3,457.20 | (175.0 | ) | 186 | (10.1 | ) | 3,643.20 | (185.1 | ) | |||||||||||||||
Equities | 118.6 | (9.1 | ) | 32.2 | (1.2 | ) | 150.8 | (10.3 | ) | |||||||||||||||
Hybrids | 52 | (3.3 | ) | — | — | 52 | (3.3 | ) | ||||||||||||||||
Municipals | 333.3 | (27.3 | ) | 144.4 | (13.5 | ) | 477.7 | (40.8 | ) | |||||||||||||||
Agency residential mortgage-backed securities | 9.8 | (0.1 | ) | 1.1 | (0.2 | ) | 10.9 | (0.3 | ) | |||||||||||||||
Non-agency residential mortgage-backed securities | 325.2 | (12.2 | ) | 69.9 | (1.2 | ) | 395.1 | (13.4 | ) | |||||||||||||||
U.S Government | 753.9 | (3.9 | ) | — | — | 753.9 | (3.9 | ) | ||||||||||||||||
Total available-for-sale securities | $ | 5,405.90 | $ | (235.9 | ) | $ | 520 | $ | (28.0 | ) | $ | 5,925.90 | $ | (263.9 | ) | |||||||||
Total number of available-for-sale securities in an unrealized loss position | 588 | 78 | 666 | |||||||||||||||||||||
At September 30, 2014 and 2013, securities in an unrealized loss position were primarily concentrated in investment grade corporate debt instruments. Agency residential mortgage-backed securities had positions with an unrealized loss less than $0.1 as of September 30, 2014. | ||||||||||||||||||||||||
At September 30, 2014 and 2013, securities with a fair value of $0.2 and $60.9, respectively, were depressed greater than 20% of amortized cost (excluding U.S. Government and U.S. Government sponsored agency securities), which represented less than 1% of the carrying values of all investments in both periods. | ||||||||||||||||||||||||
Credit Loss Portion of Other-than-temporary Impairments | ||||||||||||||||||||||||
The following table provides a reconciliation of the beginning and ending balances of the credit loss portion of other-than-temporary impairments on fixed maturity securities held by FGL for Fiscal 2014, 2013 and 2012, for which a portion of the other-than-temporary impairment was recognized in AOCI: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Beginning balance | $ | 2.7 | $ | 2.7 | $ | 0.7 | ||||||||||||||||||
Increases attributable to credit losses on securities: | ||||||||||||||||||||||||
Other-than-temporary impairment was previously recognized | — | — | 0.1 | |||||||||||||||||||||
Other-than-temporary impairment was not previously recognized | — | — | 1.9 | |||||||||||||||||||||
Ending balance | $ | 2.7 | $ | 2.7 | $ | 2.7 | ||||||||||||||||||
For Fiscal 2014, FGL recognized impairment losses in operations totaling $0.7, including credit impairments of $0.6, and change-of-intent impairments of $0.1, related to fixed maturity securities and low income housing tax credit securities with an amortized cost of $1.8 and a fair value of $1.1 at September 30, 2014. For Fiscal 2013, FGL recognized impairment losses in operations totaling $2.9, including credit impairments of $0.8, and change-of-intent impairments of $2.2 related to fixed maturity securities, non-agency residential mortgage-backed securities and low income housing tax credit securities with an amortized cost of $9.6 and a fair value of $6.7 at the time of impairment. For Fiscal 2012, FGL recognized impairment losses in operations totaling $22.8, including credit impairments of $5.7 and change-of-intent impairments of $17.1, as well as non-credit losses in other comprehensive income totaling $1.5 for investments which experienced other-than-temporary impairments and had an amortized cost of $162.3 and a fair value of $138.0 at September 30, 2012. | ||||||||||||||||||||||||
Details underlying write-downs taken as a result of other-than-temporary impairments that were recognized in net income and included in net realized gains on securities were as follows: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Other-than-temporary impairments recognized in net income: | ||||||||||||||||||||||||
Corporates | $ | — | $ | 1.2 | $ | 4.1 | ||||||||||||||||||
Municipals | 0.3 | — | — | |||||||||||||||||||||
Non-agency residential mortgage-backed securities | 0.1 | 1.2 | 7.5 | |||||||||||||||||||||
Hybrids | — | — | 9.7 | |||||||||||||||||||||
Other invested assets | 0.3 | 0.5 | 1.5 | |||||||||||||||||||||
Total other-than-temporary impairments | $ | 0.7 | $ | 2.9 | $ | 22.8 | ||||||||||||||||||
Asset-based Loans | ||||||||||||||||||||||||
The Company’s portfolio of asset-based loans receivable, originated by Salus and their co-lenders FGL and FSR, included in “Asset-based loans” in the Consolidated Balance Sheets as of September 30, 2014 and 2013, consisted of the following: | ||||||||||||||||||||||||
September 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Asset-based loans, net of deferred fees, by major industry: | ||||||||||||||||||||||||
Electronics | $ | 245.4 | $ | — | ||||||||||||||||||||
Apparel | 191.6 | 252.9 | ||||||||||||||||||||||
Jewelry | 100.1 | 125.8 | ||||||||||||||||||||||
Home Furnishings | 71.7 | — | ||||||||||||||||||||||
Manufacturing | 56.9 | 34.3 | ||||||||||||||||||||||
Transportation | 44.3 | 85.7 | ||||||||||||||||||||||
Sporting Goods | 13.9 | 25.1 | ||||||||||||||||||||||
Other | 94.9 | 41.8 | ||||||||||||||||||||||
Total asset-based loans | 818.8 | 565.6 | ||||||||||||||||||||||
Less: Allowance for loan losses | 7.2 | 5.2 | ||||||||||||||||||||||
Total asset-based loans, net | $ | 811.6 | $ | 560.4 | ||||||||||||||||||||
The Company establishes its allowance for credit losses through a provision for credit losses based on Salus’ evaluation of the credit quality of the loan portfolio. The following table presents the activity in its allowance for credit losses for Fiscal 2014, 2013 and 2012: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Allowance for credit losses: | ||||||||||||||||||||||||
Balance at beginning of year | $ | 5.2 | $ | 1.4 | $ | — | ||||||||||||||||||
Provision for credit losses | 2 | 3.8 | 1.4 | |||||||||||||||||||||
Balance at end of year | $ | 7.2 | $ | 5.2 | $ | 1.4 | ||||||||||||||||||
Credit Quality Indicators | ||||||||||||||||||||||||
Salus monitors credit quality as indicated by various factors and utilizes such information in its evaluation of the adequacy of the allowance for credit losses. As of September 30, 2014 and 2013, Salus had no outstanding loans that either were delinquent, non-performing, in a non-accrual status, or had been subject to a troubled-debt restructuring. As of September 30, 2014 and 2013, there were no impaired loans. | ||||||||||||||||||||||||
Internal Risk Rating | ||||||||||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | ||||||||||||||||||||
30-Sep-14 | $ | 195.3 | $ | 372.7 | $ | 250.8 | $ | — | $ | 818.8 | ||||||||||||||
30-Sep-13 | $ | 306.9 | $ | 36.7 | $ | 222 | $ | — | $ | 565.6 | ||||||||||||||
At September 30, 2014, approximately $250.0 or 30.8% of the Company’s total Asset-based loans, net balance represent a term loan receivable from a national electric retailer. The aforementioned receivable balance is collateralized by various assets including inventory, real estate, receivables, machinery and equipment and intellectual property rights. In addition, the net exposure is $150.0 as there is non-qualifying participation of $100.0 by a third party. The Company believes that this receivable is adequately collateralized. The Company has assessed the adequacy of its allowance for loan assets and believes the level of allowance for credit losses to be adequate to mitigate inherent losses in the portfolio. | ||||||||||||||||||||||||
Net Investment Income | ||||||||||||||||||||||||
The major sources of “Net investment income” in the accompanying Consolidated Statements of Operations were as follows: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Fixed maturity available-for-sale securities | $ | 787.4 | $ | 686.2 | $ | 707.1 | ||||||||||||||||||
Equity available-for-sale securities | 22.8 | 14.8 | 14 | |||||||||||||||||||||
Policy loans | 0.7 | 0.8 | 0.7 | |||||||||||||||||||||
Invested cash and short-term investments | 0.3 | 1.4 | 4.9 | |||||||||||||||||||||
Asset-based loans | 41.5 | 35.4 | 8.6 | |||||||||||||||||||||
Other investments | 7.1 | 12.9 | (0.9 | ) | ||||||||||||||||||||
Gross investment income | 859.8 | 751.5 | 734.4 | |||||||||||||||||||||
External investment expense | (17.6 | ) | (16.8 | ) | (11.7 | ) | ||||||||||||||||||
Net investment income | $ | 842.2 | $ | 734.7 | $ | 722.7 | ||||||||||||||||||
Net investment gains | ||||||||||||||||||||||||
“Net investment gains” reported in the accompanying Consolidated Statements of Operations were as follows: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Net realized gains before other-than-temporary impairments | $ | 101.9 | $ | 332.9 | $ | 287.2 | ||||||||||||||||||
Gross other-than-temporary impairments | (0.6 | ) | (2.9 | ) | (24.3 | ) | ||||||||||||||||||
Non-credit portion of other-than-temporary impairments included in other comprehensive income | — | — | 1.5 | |||||||||||||||||||||
Net realized gains on fixed maturity available-for-sale securities | 101.3 | 330 | 264.4 | |||||||||||||||||||||
Realized gains on equity securities | 13.5 | 12.6 | 0.9 | |||||||||||||||||||||
Net realized gains on securities | 114.8 | 342.6 | 265.3 | |||||||||||||||||||||
Realized gains (losses) on certain derivative instruments | 233.8 | 148.6 | (10.3 | ) | ||||||||||||||||||||
Unrealized gains on certain derivative instruments | 37.7 | 20.5 | 156.3 | |||||||||||||||||||||
Change in fair value of other embedded derivatives | (0.1 | ) | — | — | ||||||||||||||||||||
Change in fair value of derivatives | 271.4 | 169.1 | 146 | |||||||||||||||||||||
Realized gains (losses) on other invested assets | 9.1 | (0.1 | ) | (1.3 | ) | |||||||||||||||||||
Net investment gains | $ | 395.3 | $ | 511.6 | $ | 410 | ||||||||||||||||||
For Fiscal 2014, principal repayments, calls, tenders, and proceeds from the sale of fixed maturity available-for-sale securities totaled $5,033.4, gross gains on such sales totaled $108.5 and gross losses totaled $4.9. The proceeds from the sale of fixed maturity available-for sale securities exclude maturities and repayments for Fiscal 2014. | ||||||||||||||||||||||||
For Fiscal 2013, principal repayments, calls, tenders, and proceeds from the sale of fixed maturity available-for-sale securities totaled $8,986.9, gross gains on such sales totaled $351.2 and gross losses totaled $18.3. The proceeds from the sale of fixed maturity available-for sale securities exclude maturities and repayments for Fiscal 2013. | ||||||||||||||||||||||||
For Fiscal 2012, principal repayments, calls, tenders, and proceeds from the sale of fixed maturity available-for-sale securities, including assets transferred to Wilton Re as discussed in Note 19, Reinsurance totaled $4,603.0, gross gains on such sales totaled $295.9 and gross losses totaled $13.8. The proceeds from the sale of fixed maturity available-for sale securities exclude maturities and repayments for Fiscal 2012. | ||||||||||||||||||||||||
Cash flows from consolidated investing activities by security classification were as follows: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Proceeds from investments sold, matured or repaid: | ||||||||||||||||||||||||
Available-for-sale | $ | 5,084.10 | $ | 8,986.90 | $ | 5,833.40 | ||||||||||||||||||
Held-to-maturity | — | — | 109.6 | |||||||||||||||||||||
Trading (acquired for holding) | 54.9 | 92.9 | 106.1 | |||||||||||||||||||||
Derivatives and other | 470.2 | 352.4 | 157.6 | |||||||||||||||||||||
$ | 5,609.20 | $ | 9,432.20 | $ | 6,206.70 | |||||||||||||||||||
Cost of investments acquired: | ||||||||||||||||||||||||
Available-for-sale | $ | (6,741.2 | ) | $ | (8,757.5 | ) | $ | (5,640.1 | ) | |||||||||||||||
Held-to-maturity | — | — | (68.7 | ) | ||||||||||||||||||||
Trading (acquired for holding) | (99.7 | ) | (20.8 | ) | (122.3 | ) | ||||||||||||||||||
Derivatives and other | (380.5 | ) | (162.5 | ) | (141.6 | ) | ||||||||||||||||||
$ | (7,221.4 | ) | $ | (8,940.8 | ) | $ | (5,972.7 | ) |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | |||||||||||||||||||||||||||||||||||||||
The fair value of outstanding derivative contracts recorded in the accompanying Consolidated Balance Sheets were as follows: | |||||||||||||||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||||||||||||||
Asset Derivatives | Classification | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Other assets | $ | 0.6 | $ | — | ||||||||||||||||||||||||||||||||||
Commodity swap and option agreements | Receivables, net | 1.3 | 0.4 | ||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | Other assets | 0.3 | — | ||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | Receivables, net | 12 | 1.7 | ||||||||||||||||||||||||||||||||||||
Total asset derivatives designated as hedging instruments | 14.2 | 2.1 | |||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||||||
Commodity contracts | Receivables, net | 1.9 | 3.7 | ||||||||||||||||||||||||||||||||||||
Call options | Derivatives | 296.3 | 221.8 | ||||||||||||||||||||||||||||||||||||
Other embedded derivatives | Other invested assets | 11.2 | — | ||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | Receivables, net | 0.5 | 0.1 | ||||||||||||||||||||||||||||||||||||
Total asset derivatives | $ | 324.1 | $ | 227.7 | |||||||||||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||||||||||||||
Liability Derivatives | Classification | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Accounts payable and other current liabilities | $ | 1.8 | $ | — | ||||||||||||||||||||||||||||||||||
Commodity contracts | Accounts payable and other current liabilities | 0.1 | 0.5 | ||||||||||||||||||||||||||||||||||||
Foreign exchange forward agreements | Accounts payable and other current liabilities | — | 4.6 | ||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | Other liabilities | — | 0.1 | ||||||||||||||||||||||||||||||||||||
Total liability derivatives designated as hedging instruments | 1.9 | 5.2 | |||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||||||
Commodity contracts | Other liabilities | 0.3 | 1.9 | ||||||||||||||||||||||||||||||||||||
FIA embedded derivative | Contractholder funds | 1,908.10 | 1,544.40 | ||||||||||||||||||||||||||||||||||||
Futures contracts | Other liabilities | 0.5 | 1 | ||||||||||||||||||||||||||||||||||||
Foreign exchange forward contracts | Accounts payable and other current liabilities | 0.1 | 5.3 | ||||||||||||||||||||||||||||||||||||
Equity conversion feature of preferred stock | Equity conversion feature of preferred stock | — | 330.8 | ||||||||||||||||||||||||||||||||||||
Total liability derivatives | $ | 1,910.90 | $ | 1,888.60 | |||||||||||||||||||||||||||||||||||
Changes in AOCI from Derivative Instruments | |||||||||||||||||||||||||||||||||||||||
For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of AOCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative, representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness, are recognized in current earnings. | |||||||||||||||||||||||||||||||||||||||
The following table summarizes the pretax impact of derivative instruments designated as cash flow hedges on the accompanying Consolidated Statements of Operations, and within AOCI, for Fiscal 2014, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationships | Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion) | Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | Classification | |||||||||||||||||||||||||||||||||||
Fiscal | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Interest rate contracts | $ | (1.6 | ) | $ | — | $ | — | $ | (0.9 | ) | $ | — | $ | (0.9 | ) | $ | — | $ | — | $ | — | Consumer products cost of goods sold | |||||||||||||||||
Commodity contracts | 1.9 | (2.6 | ) | 1.6 | 0.7 | (0.6 | ) | (1.1 | ) | — | — | 0.1 | (a) | Interest expense | |||||||||||||||||||||||||
Foreign exchange contracts | 0.1 | 0.9 | 0.1 | 0.2 | 0.9 | (0.5 | ) | — | — | — | Net consumer products sales | ||||||||||||||||||||||||||||
Foreign exchange contracts | 12.7 | (0.3 | ) | (3.5 | ) | (2.6 | ) | 0.6 | (0.6 | ) | — | — | — | Consumer products cost of goods sold | |||||||||||||||||||||||||
Total | $ | 13.1 | $ | (2.0 | ) | $ | (1.8 | ) | $ | (2.6 | ) | $ | 0.9 | $ | (3.1 | ) | $ | — | $ | — | $ | 0.1 | |||||||||||||||||
(a) | Reclassified from AOCI associated with the prepayment of portions of Spectrum Brands’ senior credit facility (see Note 15, Debt). | ||||||||||||||||||||||||||||||||||||||
Fair Value Contracts and Other | |||||||||||||||||||||||||||||||||||||||
For derivative instruments that are used to economically hedge the fair value of Spectrum Brands’ third party and intercompany foreign currency payments, commodity purchases and interest rate payments, and the equity conversion feature of the Company’s Preferred Stock, the gain (loss) associated with the derivative contract is recognized in earnings in the period of change. FGL recognizes all derivative instruments as assets or liabilities in the Consolidated Balance Sheets at fair value, including derivative instruments embedded in FIA contracts, and any changes in the fair value of the derivatives are recognized immediately in the Consolidated Statements of Operations. During Fiscal 2014, 2013 and 2012, the Company recognized the following gains and losses on these derivatives: | |||||||||||||||||||||||||||||||||||||||
Classification | Derivatives Not Designated as Hedging Instruments | Amounts Recognized in Income on Derivatives | |||||||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||||||||||||
Net investment gains | Call options | $ | 246 | $ | 151.6 | $ | 100 | ||||||||||||||||||||||||||||||||
Futures contracts | 25.5 | 17.5 | 46 | ||||||||||||||||||||||||||||||||||||
Change in fair value of other embedded derivatives | (0.1 | ) | — | — | |||||||||||||||||||||||||||||||||||
Net investment income | Available-for-sale embedded derivatives | — | — | 0.4 | |||||||||||||||||||||||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||||||||||||||
Cost of consumer products and other goods sold | Commodity contracts | $ | (0.1 | ) | $ | (0.1 | ) | $ | — | ||||||||||||||||||||||||||||||
Benefits and other changes in policy reserves | FIA embedded derivatives | 363.7 | (6.4 | ) | 154.5 | ||||||||||||||||||||||||||||||||||
Other income and expense: | |||||||||||||||||||||||||||||||||||||||
Loss from the change in the fair value of the equity conversion feature of preferred stock | Equity conversion feature of preferred stock | $ | (12.7 | ) | $ | (101.6 | ) | $ | (156.6 | ) | |||||||||||||||||||||||||||||
Other expense, net | Oil and natural gas commodity contracts | (6.6 | ) | (1.3 | ) | — | |||||||||||||||||||||||||||||||||
Foreign exchange contracts | 3.1 | (3.6 | ) | 5.9 | |||||||||||||||||||||||||||||||||||
Additional Disclosures | |||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges | |||||||||||||||||||||||||||||||||||||||
When appropriate, Spectrum Brands has used interest rate swaps to manage its interest rate risk. The swaps are designated as cash flow hedges with the changes in fair value recorded in AOCI and as a derivative hedge asset or liability, as applicable. The swaps settle periodically in arrears with the related amounts for the current settlement period payable to, or receivable from, the counter-parties included in accrued liabilities or receivables, respectively, and recognized in earnings as an adjustment to interest expense from the underlying debt to which the swap is designated. At September 30, 2014, Spectrum Brands had a series of U.S. dollar denominated interest rate swaps outstanding which effectively fix the interest on floating rate debt, exclusive of lender spreads, at 1.36% for a notional principal amount of $300.0 through April 2017. At September 30, 2013, Spectrum Brands did not have any interest rate swaps outstanding. The derivative net loss on these contracts recorded in AOCI by Spectrum Brands at September 30, 2014 was $0.4 and noncontrolling interest of $0.3. At September 30, 2014, the portion of derivative net losses estimated to be reclassified from AOCI into earning by Spectrum Brands over the next 12 months was $0.8, net of tax and noncontrolling interest. | |||||||||||||||||||||||||||||||||||||||
Spectrum Brands periodically enters into forward foreign exchange contracts to hedge the risk from forecasted foreign currency denominated third party and intercompany sales or payments. These obligations generally require Spectrum Brands to exchange foreign currencies for U.S. Dollars, Euros, Pounds Sterling, Australian Dollars, Brazilian Reals, Mexican Pesos, Canadian Dollars or Japanese Yen. These foreign exchange contracts are cash flow hedges of fluctuating foreign exchange rates related to sales of product or raw material purchases. Until the sale or purchase is recognized, the fair value of the related hedge is recorded in AOCI and as a derivative hedge asset or liability, as applicable. At the time the sale or purchase is recognized, the fair value of the related hedge is reclassified as an adjustment to “Net consumer and other product sales” or purchase price variance in “Cost of consumer products and other goods sold.” | |||||||||||||||||||||||||||||||||||||||
At September 30, 2014, Spectrum Brands had a series of foreign exchange derivative contracts outstanding through September 2015 with a contract value of $226.7. At September 30, 2013, Spectrum Brands had a series of foreign exchange derivative contracts outstanding through September 2014 with a contract value of $255.9. The derivative net gain on these contracts recorded in AOCI at September 30, 2014 was $5.2, net of tax expense of $3.4 and noncontrolling interest of $3.7. The derivative net loss on these contracts recorded in AOCI at September 30, 2013 was $1.4, net of tax benefit of $0.6 and noncontrolling interest of $0.9. At September 30, 2014, the portion of derivative net losses estimated to be reclassified from AOCI into earnings over the next twelve months was $5.1, net of tax and noncontrolling interest. | |||||||||||||||||||||||||||||||||||||||
Spectrum Brands is exposed to risk from fluctuating prices for raw materials, specifically zinc and brass used in its manufacturing processes. Spectrum Brands hedges a portion of the risk associated with the purchase of these materials through the use of commodity swaps. The hedge contracts are designated as cash flow hedges with the fair value changes recorded in AOCI and as a hedge asset or liability, as applicable. The unrecognized changes in fair value of the hedge contracts are reclassified from AOCI into earnings when the hedged purchase of raw materials also affects earnings. The swaps effectively fix the floating price on a specified quantity of raw materials through a specified date. At September 30, 2014, Spectrum Brands had a series of zinc swap contracts outstanding through September 2015 for 8 tons with a contract value of $17.4. To hedge brass exposures, at September 30, 2014, Spectrum Brands had a series of zinc and copper swap contracts outstanding through June 2015 for one ton with a contract value of $2.8. At September 30, 2013, Spectrum Brands had a series of zinc swap contracts outstanding through December 2014 for 8 tons of raw materials with a contract value of $16.2. The derivative net gains on these contracts recorded in AOCI at September 30, 2014 and 2013 were insignificant. At September 30, 2014, the portion of derivative net gain estimated to be reclassified from AOCI into earnings over the next twelve months was insignificant. | |||||||||||||||||||||||||||||||||||||||
Fair Value Contracts | |||||||||||||||||||||||||||||||||||||||
Spectrum Brands | |||||||||||||||||||||||||||||||||||||||
Spectrum Brands periodically enters into forward and swap foreign exchange contracts to economically hedge the risk from third party and intercompany payments resulting from existing obligations. These obligations generally require Spectrum Brands to exchange foreign currencies for U.S. Dollars, Canadian Dollars, Euros or Australian Dollars. These foreign exchange contracts are economic hedges of a related liability or asset recorded in the accompanying Consolidated Balance Sheets. The gain or loss on the derivative hedge contracts is recorded in earnings as an offset to the change in value of the related liability or asset at each period end. At September 30, 2014 and 2013, Spectrum Brands had $108.9 and $108.5, respectively, of notional value for such foreign exchange derivative contracts outstanding. | |||||||||||||||||||||||||||||||||||||||
Spectrum Brands periodically enters into commodity swap contracts to economically hedge the risk from fluctuating prices for raw materials, specifically the pass-through of market prices for silver used in manufacturing purchased watch batteries. Spectrum Brands hedges a portion of the risk associated with these materials through the use of commodity swaps. The swap contracts are designated as economic hedges with the unrealized gain or loss recorded in earnings and as an asset or liability at each period end. The unrecognized changes in fair value of the hedge contracts are adjusted through earnings when the realized gains or losses affect earnings upon settlement of the hedges. The swaps effectively fix the floating price on a specified quantity of silver through a specified date. At September 30, 2014, Spectrum Brands had a series of such swap contracts outstanding through September 2015 for 25 troy ounces with a contract value of $0.4. At September 30, 2013, Spectrum brands had a series of such swap contracts outstanding through May 2014 for 45 troy ounces with a contract value of $1.0. | |||||||||||||||||||||||||||||||||||||||
FGL - FIA Contracts | |||||||||||||||||||||||||||||||||||||||
FGL has FIA contracts that permit the holder to elect an interest rate return or an equity index linked component, where interest credited to the contracts is linked to the performance of various equity indices, primarily the S&P 500 Index. This feature represents an embedded derivative under US GAAP. The FIA embedded derivative is valued at fair value and included in the liability for contractholder funds in the accompanying Consolidated Balance Sheets with changes in fair value included as a component of “Benefits and other changes in policy reserves” in the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||||||||||
FGL purchases derivatives consisting of a combination of call options and futures contracts on the applicable market indices to fund the index credits due to FIA contractholders. The call options are one, two, three and five year options purchased to match the funding requirements of the underlying policies. On the respective anniversary dates of the index policies, the index used to compute the interest credit is reset and FGL purchases new one, two, three or five year call options to fund the next index credit. FGL manages the cost of these purchases through the terms of its FIA contracts, which permit FGL to change caps, spreads or participation rates, subject to guaranteed minimums on each contract’s anniversary date. The change in the fair value of the call options and futures contracts is generally designed to offset the portion of the change in the fair value of the FIA embedded derivative related to index performance. The call options and futures contracts are marked to fair value with the change in fair value included as a component of “Net investment gains.” The change in fair value of the call options and futures contracts includes the gains and losses recognized at the expiration of the instrument term or upon early termination and the changes in fair value of open positions. | |||||||||||||||||||||||||||||||||||||||
Other market exposures are hedged periodically depending on market conditions and FGL’s risk tolerance. FGL’s FIA hedging strategy economically hedges the equity returns and exposes FGL to the risk that unhedged market exposures result in divergence between changes in the fair value of the liabilities and the hedging assets. FGL uses a variety of techniques, including direct estimation of market sensitivities and value-at-risk, to monitor this risk daily. FGL intends to continue to adjust the hedging strategy as market conditions and FGL’s risk tolerance change. | |||||||||||||||||||||||||||||||||||||||
Oil and natural gas commodity contracts | |||||||||||||||||||||||||||||||||||||||
Compass’ primary objective in entering into derivative financial instruments is to manage its exposure to commodity price fluctuations, protect its returns on investments and achieve a more predictable cash flow in connection with its operations. These transactions limit exposure to declines in commodity prices, but also limit the benefits Compass would realize if commodity prices increase. When prices for oil and natural gas are volatile, a significant portion of the effect of Compass’ derivative financial instrument management activities consists of non-cash income or expense due to changes in the fair value of its derivative financial instrument contracts. Cash losses or gains only arise from payments made or received on monthly settlements of contracts or if Compass terminates a contract prior to its expiration. Compass does not designate its derivative financial instruments as hedging instruments for financial reporting purposes and, as a result, Compass recognizes the change in the respective instruments’ fair value in earnings. | |||||||||||||||||||||||||||||||||||||||
Settlements in the normal course of maturities of derivative financial instrument contracts result in cash receipts from, or cash disbursements to, Compass’ derivative contract counterparties. Changes in the fair value of Compass’ derivative financial instrument contracts, which includes both cash and non-cash changes in fair value, are included in earnings with a corresponding increase or decrease in the Consolidated Balance Sheets fair value amounts. | |||||||||||||||||||||||||||||||||||||||
Compass’ natural gas and oil derivative instruments are comprised of swap contracts. Swap contracts allow Compass to receive a fixed price and pay a floating market price to the counterparty for the hedged commodity. | |||||||||||||||||||||||||||||||||||||||
The following table presents the volumes and fair value of Compass’ oil and natural gas derivative financial instruments as of September 30, 2014 (presented on a calendar-year basis): | |||||||||||||||||||||||||||||||||||||||
(in millions, except volumes and prices) | Volume Mmmbtus/Mbbls | Weighted average strike price per Mmbtu/Bbl | September 30, | ||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||
Natural gas: | |||||||||||||||||||||||||||||||||||||||
Swaps: | |||||||||||||||||||||||||||||||||||||||
Remainder of 2014 | 4,106 | $ | 4.15 | $ | 0.2 | ||||||||||||||||||||||||||||||||||
2015 | 2,715 | 3.98 | (0.1 | ) | |||||||||||||||||||||||||||||||||||
Total natural gas | 6,821 | $ | 0.1 | ||||||||||||||||||||||||||||||||||||
Oil: | |||||||||||||||||||||||||||||||||||||||
Swaps: | |||||||||||||||||||||||||||||||||||||||
Remainder of 2014 | 68 | $ | 91.87 | $ | 0.1 | ||||||||||||||||||||||||||||||||||
2015 | 186 | 94.98 | 1.4 | ||||||||||||||||||||||||||||||||||||
Total oil | 254 | $ | 1.5 | ||||||||||||||||||||||||||||||||||||
Total oil and natural gas derivatives | $ | 1.6 | |||||||||||||||||||||||||||||||||||||
At September 30, 2013, Compass had outstanding derivative contracts to mitigate price volatility covering 16,018 Billion British Thermal Units (“Mmmbtus”) of natural gas and 375 Thousand Barrels (“Mbbls”) of oil. At September 30, 2014, the average forward NYMEX oil prices per barrel (“Bbl”) for the remainder of 2014 and 2015 were $90.72 and $88.08, respectively, and the average forward NYMEX natural gas prices per Mmbtu for the remainder of 2014 and 2015, were $4.16 and $4.00, respectively. | |||||||||||||||||||||||||||||||||||||||
Compass’ derivative financial instruments covered approximately 72.0% and 74.0% of production volumes for Fiscal 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||||||
Other Embedded Derivatives | |||||||||||||||||||||||||||||||||||||||
On June 16, 2014, FGL invested in a $35.0 fund-linked note issued by Nomura International Funding Pte. Ltd. The note provides for an additional payment at maturity based on the value of a hypothetical investment in AnchorPath Dedicated Return Fund (the "AnchorPath Fund") of $11.3 which was based on the actual return of the fund. At September 30, 2014 the fair value of the embedded derivative was $11.2 and the fair value of the fund-linked note was $21.6. At maturity of the fund-linked note, FGL will receive the $35.0 face value of the note plus the value of the hypothetical investment in the AnchorPath Fund. The additional payment at maturity is an embedded derivative reported in "Other invested assets", while the host is an available-for-sale security reported in “Fixed maturities” within the accompanying Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||||||||||
Credit Risk | |||||||||||||||||||||||||||||||||||||||
Spectrum Brands is exposed to the risk of default by the counterparties with which Spectrum Brands transacts and generally does not require collateral or other security to support financial instruments subject to credit risk. Spectrum Brands monitors counterparty credit risk on an individual basis by periodically assessing each such counterparty’s credit rating exposure. The maximum loss due to credit risk equals the fair value of the gross asset derivatives that are concentrated with certain domestic and foreign financial institution counterparties. Spectrum Brands considers these exposures when measuring its credit reserve on its derivative assets, which was insignificant at September 30, 2014 and 2013. | |||||||||||||||||||||||||||||||||||||||
Spectrum Brands’ standard contracts do not contain credit risk related contingent features whereby Spectrum Brands would be required to post additional cash collateral as a result of a credit event. However, Spectrum Brands is typically required to post collateral in the normal course of business to offset its liability positions. At September 30, 2014, Spectrum Brands did not post cash collateral and at September 30, 2013, Spectrum Brands had posted cash collateral of $0.5 related to such liability positions. In addition, at September 30, 2014 and 2013, Spectrum Brands had no posted standby letters of credit related to such liability positions. The cash collateral is included in “Receivables, net” within the accompanying Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||||||||||
Compass places derivative financial instruments with the financial institutions that are lenders under Compass Credit Agreement that it believes have high quality credit ratings. To mitigate risk of loss due to default, Compass has entered into master netting agreements with its counterparties on its derivative financial instruments that allow it to offset its asset position with its liability position in the event of a default by the counterparty. | |||||||||||||||||||||||||||||||||||||||
FGL is exposed to credit loss in the event of nonperformance by its counterparties on the call options and reflects assumptions regarding this nonperformance risk in the fair value of the call options. The nonperformance risk is the net counterparty exposure based on the fair value of the open contracts less collateral held. FGL maintains a policy of requiring all derivative contracts to be governed by an International Swaps and Derivatives Association (“ISDA”) Master Agreement. | |||||||||||||||||||||||||||||||||||||||
Information regarding FGL’s exposure to credit loss on the call options it holds is presented in the following table: | |||||||||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||||||||
Counterparty | Credit Rating | Notional | Fair Value | Collateral | Net Credit Risk | Notional | Fair Value | Collateral | Net Credit Risk | ||||||||||||||||||||||||||||||
(Fitch/Moody’s/S&P) (a) | Amount | Amount | |||||||||||||||||||||||||||||||||||||
Merrill Lynch | A/*/A | $ | 2,239.90 | $ | 92.7 | $ | 52.5 | $ | 40.2 | $ | 2,037.80 | $ | 70.7 | $ | — | $ | 70.7 | ||||||||||||||||||||||
Deutsche Bank | A+/A3/A | 2,810.00 | 108 | 72.5 | 35.5 | 1,620.40 | 51.7 | 23 | 28.7 | ||||||||||||||||||||||||||||||
Morgan Stanley | */A3/A | 2,294.70 | 85 | 63 | 22 | 2,264.10 | 75.7 | 49 | 26.7 | ||||||||||||||||||||||||||||||
Royal Bank of Scotland | A-/*/A- | — | — | — | — | 364.3 | 20.3 | — | 20.3 | ||||||||||||||||||||||||||||||
Barclay's Bank | A/A2/A- | 258 | 10.6 | — | 10.6 | 120.8 | 3.4 | — | 3.4 | ||||||||||||||||||||||||||||||
$ | 7,602.60 | $ | 296.3 | $ | 188 | $ | 108.3 | $ | 6,407.40 | $ | 221.8 | $ | 72 | $ | 149.8 | ||||||||||||||||||||||||
(a) Credit ratings as of September 30, 2014 except for Royal Bank of Scotland which is as of September 30, 2013. An * represents credit ratings that were not available. | |||||||||||||||||||||||||||||||||||||||
Collateral Agreements | |||||||||||||||||||||||||||||||||||||||
FGL is required to maintain minimum ratings as a matter of routine practice as part of its over-the-counter derivative agreements on ISDA forms. Under some ISDA agreements, FGL has agreed to maintain certain financial strength ratings. A downgrade below these levels provides the counterparty under the agreement the right to terminate the open derivative contracts between the parties, at which time any amounts payable by FGL or the counterparty would be dependent on the market value of the underlying derivative contracts. FGL’s current rating allows multiple counterparties the right to terminate ISDA agreements. No ISDA agreements have been terminated, although the counterparties have reserved the right to terminate the ISDA agreements at any time. In certain transactions, FGL and the counterparty have entered into a collateral support agreement requiring either party to post collateral when the net exposures exceed pre-determined thresholds. These thresholds vary by counterparty and credit rating. As of September 30, 2014 and September 30, 2013, counterparties posted $188.0 and $72.0 of collateral, respectively, of which $135.5 and $72.0 is included in “Cash and cash equivalents” with an associated payable for this collateral included in "Other liabilities" on the Consolidated Balance Sheets. The remaining $52.5 of non-cash collateral was held by a third-party custodian at September 30, 2014. Accordingly, the maximum amount of loss due to credit risk that FGL would incur if parties to the call options failed completely to perform according to the terms of the contracts was $108.3 and $149.8 at September 30, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||||||
FGL held 2,348 and 1,693 futures contracts at September 30, 2014 and 2013, respectively. The fair value of futures contracts represents the cumulative unsettled variation margin (open trade equity net of cash settlements). FGL provides cash collateral to the counterparties for the initial and variation margin on the futures contracts which is included in “Cash and cash equivalents” in the Consolidated Balance Sheets. The amount of cash collateral held by the counterparties for such contracts was $10.8 and $5.9 at September 30, 2014 and 2013, respectively. |
Securitizations_and_Variable_I
Securitizations and Variable Interest Entities | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Securitizations and Variable Interest Entities [Abstract] | ' | ||||||||
Securitizations and Variable Interest Entities | ' | ||||||||
Securitizations and Variable Interest Entities | |||||||||
Collateralized Loan Obligations | |||||||||
In February 2013, Salus completed a CLO securitization with a notional aggregate principal amount of $175.5 of the asset-based loans that it had originated through that date. In September 2013, Salus increased the CLO securitization to a notional aggregate principal amount of $331.1 of the asset-based loans that it had originated through that date. Salus’ continuing involvement with the trust created as part of the securitization include servicing the receivables; retaining an undivided interest (seller’s interest) in the receivables; and holding certain retained interests in subordinate securities, subordinate interests in accrued interest and fees on the securitized receivables, and cash reserve accounts. Salus continues to consolidate the loans transferred into the trust as it has determined that it is the primary beneficiary of the variable-interest entity represented by the trust, as result of it holding subordinate interest and servicing the receivables. Neither the Company nor Salus provided guarantees or recourse to the securitization trust other than standard representations and warranties. | |||||||||
Included within “Asset-based loans” under Investments in the Consolidated Balance Sheet as of September 30, 2014 and 2013 were asset-based loans of $455.9 and $337.8, respectively, that serve as collateral to the unaffiliated obligations of the CLO of $192.0, net of discount of $1.0 and $181.8, net of discount of $1.1, respectively. The unaffiliated obligations of the CLO are included within “Debt” in the Consolidated Balance Sheet as of September 30, 2014 and 2013. At September 30, 2014 and 2013, the asset-based loans receivable included $292.0 and $302.1, respectively, of seller’s interest. | |||||||||
The table below summarizes select information related to the CLO vehicle in which Salus held a variable interest at September 30, 2014 and 2013. | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
Maximum loss exposure | $ | 455.9 | $ | 337.8 | |||||
Asset-based loans receivable | $ | 455.9 | $ | 337.8 | |||||
Cash and other assets | 35.5 | 156.7 | |||||||
Total assets of consolidated VIE | $ | 491.4 | $ | 494.5 | |||||
Long-term debt | $ | 484 | $ | 485 | |||||
Other liabilities | 6.7 | 2.9 | |||||||
Total liabilities of consolidated VIE | $ | 490.7 | $ | 487.9 | |||||
Equitymethod_investments
Equity-method investments | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Proportionately Consolidated Equity Method Investments [Abstract] | ' | ||||||||
Equity-Method Investments | ' | ||||||||
(8) Equity-method Investments | |||||||||
HC2 Holdings Inc. (formerly PTGi Holding, Inc.) | |||||||||
On January 3, 2014, HGI Funding acquired a 40.5% interest in a liquidating equity, HC2 Holdings Inc. (“HC2”), included in equity securities — held for trading, as of September 30, 2014. HGI’s ownership in HC2 has been diluted to 24.7% as of September 30, 2014 as a result of the issuance of additional stock during 2014. The equity method investee is carried at fair market value ($26.5 as of September 30, 2014) using the fair value option under ASC Topic 820. | |||||||||
Compass | |||||||||
The following tables present summarized consolidated financial information of Compass (HGI’s proportionately consolidated equity investment) for Fiscal 2014 and the period subsequent to HGI’s acquisition of the equity interest on February 14, 2013. | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
Assets | |||||||||
Total current assets | $ | 50.1 | $ | 54.4 | |||||
Oil and natural gas properties, net | 599.4 | 741.5 | |||||||
Other assets | 29 | 32.7 | |||||||
Total assets | $ | 678.5 | $ | 828.6 | |||||
Liabilities and members’ equity | |||||||||
Total current liabilities | $ | 42.9 | $ | 44.9 | |||||
Total long-term liabilities | 362.9 | 397.3 | |||||||
Total members’ equity | 272.7 | 386.4 | |||||||
Total liabilities and members’ equity | $ | 678.5 | $ | 828.6 | |||||
Year ended September 30, 2014 | Inception to Period Ended September 30, 2013 | ||||||||
Revenues | $ | 197.5 | $ | 121.1 | |||||
Costs and Expenses | |||||||||
Oil and natural gas direct operating costs | 93.5 | 59 | |||||||
Selling, acquisition, operating and general expenses | 67.2 | 49.5 | |||||||
Impairment of proved oil and natural gas properties | 109 | 72.8 | |||||||
Total costs and expenses | 269.7 | 181.3 | |||||||
Operating loss | (72.2 | ) | (60.2 | ) | |||||
Other expense, net | (19.0 | ) | (8.0 | ) | |||||
Net loss | $ | (91.2 | ) | $ | (68.2 | ) |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||||||||||
The Company’s consolidated assets and liabilities measured at fair value are summarized according to the hierarchy previously described as follows: | ||||||||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Contingent purchase price reduction receivable | $ | — | $ | — | $ | 41.5 | $ | 41.5 | ||||||||||||||||||||||||
Derivatives: | ||||||||||||||||||||||||||||||||
Interest rate contracts | — | 0.6 | — | 0.6 | ||||||||||||||||||||||||||||
Commodity swap and option agreements | — | 3.2 | — | 3.2 | ||||||||||||||||||||||||||||
Foreign exchange contracts | — | 12.8 | — | 12.8 | ||||||||||||||||||||||||||||
Call options and futures contracts | — | 296.3 | — | 296.3 | ||||||||||||||||||||||||||||
Fixed maturity securities, available-for-sale: | ||||||||||||||||||||||||||||||||
Asset-backed securities | — | 1,755.90 | 37 | 1,792.90 | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities | — | 553.8 | 83.1 | 636.9 | ||||||||||||||||||||||||||||
Corporates | — | 8,945.80 | 850 | 9,795.80 | ||||||||||||||||||||||||||||
Hybrids | — | 1,316.10 | — | 1,316.10 | ||||||||||||||||||||||||||||
Municipals | — | 1,222.60 | 37.2 | 1,259.80 | ||||||||||||||||||||||||||||
Agency residential mortgage-backed securities | — | 107.3 | — | 107.3 | ||||||||||||||||||||||||||||
Non-agency residential mortgage-backed securities | — | 2,006.70 | — | 2,006.70 | ||||||||||||||||||||||||||||
U.S. Government | 115.6 | 180.4 | — | 296 | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||
Available-for-sale | 59.2 | 598.4 | 6 | 663.6 | ||||||||||||||||||||||||||||
Trading | 104.5 | — | — | 104.5 | ||||||||||||||||||||||||||||
Other invested assets | — | 2.1 | 11.2 | 13.3 | ||||||||||||||||||||||||||||
Funds withheld receivable | — | 154.4 | — | 154.4 | ||||||||||||||||||||||||||||
Total financial assets | $ | 279.3 | $ | 17,156.40 | $ | 1,066.00 | $ | 18,501.70 | ||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivatives: | ||||||||||||||||||||||||||||||||
FIA embedded derivatives, included in contractholder funds | $ | — | $ | — | $ | 1,908.10 | $ | 1,908.10 | ||||||||||||||||||||||||
Front Street future policyholder benefit liability | — | — | 151.3 | 151.3 | ||||||||||||||||||||||||||||
Foreign exchange forward agreements and contracts | — | 0.1 | — | 0.1 | ||||||||||||||||||||||||||||
Commodity contracts | — | 0.4 | — | 0.4 | ||||||||||||||||||||||||||||
Futures contracts | — | 0.5 | — | 0.5 | ||||||||||||||||||||||||||||
Interest rate contracts | — | 1.8 | — | 1.8 | ||||||||||||||||||||||||||||
Total financial liabilities | $ | — | $ | 2.8 | $ | 2,059.40 | $ | 2,062.20 | ||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Contingent purchase price reduction receivable | $ | — | $ | — | $ | 41 | $ | 41 | ||||||||||||||||||||||||
Derivatives: | ||||||||||||||||||||||||||||||||
Foreign exchange forward agreements | — | 1.8 | — | 1.8 | ||||||||||||||||||||||||||||
Commodity swap and option agreements | — | 4.1 | — | 4.1 | ||||||||||||||||||||||||||||
Call options | — | 221.8 | — | 221.8 | ||||||||||||||||||||||||||||
Fixed maturity securities, available-for-sale: | ||||||||||||||||||||||||||||||||
Asset-backed securities | — | 1,518.10 | 5 | 1,523.10 | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities | — | 448.7 | 5.7 | 454.4 | ||||||||||||||||||||||||||||
Corporates | — | 8,957.20 | 461.1 | 9,418.30 | ||||||||||||||||||||||||||||
Hybrids | — | 428.8 | — | 428.8 | ||||||||||||||||||||||||||||
Municipals | — | 1,007.00 | — | 1,007.00 | ||||||||||||||||||||||||||||
Agency residential mortgage-backed securities | — | 98.6 | — | 98.6 | ||||||||||||||||||||||||||||
Non-agency residential mortgage-backed securities | — | 1,368.00 | — | 1,368.00 | ||||||||||||||||||||||||||||
U.S. Government | 790.9 | 210.9 | — | 1,001.80 | ||||||||||||||||||||||||||||
Equity securities | ||||||||||||||||||||||||||||||||
Available-for-sale | — | 271 | — | 271 | ||||||||||||||||||||||||||||
Trading | 70.8 | — | 10.7 | 81.5 | ||||||||||||||||||||||||||||
Total financial assets | $ | 861.7 | $ | 14,536.00 | $ | 523.5 | $ | 15,921.20 | ||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivatives: | ||||||||||||||||||||||||||||||||
FIA embedded derivatives, included in contractholder funds | $ | — | $ | — | $ | 1,544.40 | $ | 1,544.40 | ||||||||||||||||||||||||
Futures contracts | — | 1 | — | 1 | ||||||||||||||||||||||||||||
Foreign exchange forward agreements and contracts | — | 10 | — | 10 | ||||||||||||||||||||||||||||
Commodity contracts | — | 2.4 | — | 2.4 | ||||||||||||||||||||||||||||
Equity conversion feature of preferred stock | — | — | 330.8 | 330.8 | ||||||||||||||||||||||||||||
Total financial liabilities | $ | — | $ | 13.4 | $ | 1,875.20 | $ | 1,888.60 | ||||||||||||||||||||||||
Valuation Methodologies | ||||||||||||||||||||||||||||||||
Fixed Maturity Securities, Equity Securities and Other Invested Assets | ||||||||||||||||||||||||||||||||
FGL measures the fair value of its securities based on assumptions used by market participants in pricing the security. The appropriate valuation methodology is selected based on the specific characteristics of the fixed maturity or equity security, and FGL will then consistently apply the valuation methodology to measure the security’s fair value. FGL’s fair value measurement is based on a market approach, which utilizes prices and other relevant information generated by market transactions involving identical or comparable securities. Sources of inputs to the market approach include a third-party pricing service, independent broker quotations or pricing matrices. FGL uses observable and unobservable inputs in its valuation methodologies. Observable inputs include benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. In addition, market indicators and industry and economic events are monitored and further market data will be acquired when certain thresholds are met. For certain security types, additional inputs may be used, or some of the inputs described above may not be applicable. The significant unobservable input used in the fair value measurement of equity securities available-for-sale for which the market-approach valuation technique is employed, is yields for comparable securities. Increase (decrease) in such yields, respectively, would result in lower or higher fair value measurements. For broker-quoted only securities, quotes from market makers or broker-dealers are obtained from sources recognized to be market participants. Management believes the broker quotes are prices at which trades could be executed based on historical trades executed at broker-quoted or slightly higher prices. | ||||||||||||||||||||||||||||||||
FGL did not adjust prices received from third parties as of September 30, 2014 and 2013. However, FGL does analyze the third-party valuation methodologies and its related inputs to perform assessments to determine the appropriate level within the fair value hierarchy. | ||||||||||||||||||||||||||||||||
Fair value of FGL's available-for-sale embedded derivative, included in "Other invested assets", is based on an unobservable input, the net asset value of the AnchorPath fund at the balance sheet date. The available-for-sale embedded derivative is similar to a call option on the net asset value of the AnchorPath fund with a strike price of zero since FGL Insurance will not be required to make any additional payments at maturity of the fund-linked note in order to receive the net asset value of the AnchorPath fund on the maturity date. Therefore, the Black Scholes model returns the net asset value of the AnchorPath fund as the fair value of the call option regardless of the values used for the other inputs to the option pricing model. The net asset value of the AnchorPath fund is provided by the fund manager at the end of each calendar month and represents the value an investor would receive if it withdrew its investment on the balance sheet date. Therefore, the key unobservable input used in the Black Scholes model is the value of the AnchorPath fund. As the value of the AnchorPath fund increases or decreases, the fair value of the embedded derivative will increase or decrease. | ||||||||||||||||||||||||||||||||
Funds Withheld Receivables and Future Policy Holder Benefits Reserve | ||||||||||||||||||||||||||||||||
Front Street elected to apply the Fair Value Option to account for its Funds Withheld Receivables and Future Policy Holder Benefits Reserve related to its assumed reinsurance. Front Street measures fair value of the Funds Withheld Receivables based on the fair values of the securities in the underlying funds withheld portfolio held in trust by the cedant. Front Street uses a discounted cash flows approach to measure the fair value of the Future Policy Holder Benefits Reserve. The cash flows associated with future policy benefits are generated using best estimate assumptions (plus a risk margin, where applicable) and are consistent with market prices, where available. Risk margins are typically applied to non-observable, non-hedgeable market inputs such as long term volatility, mortality, morbidity, lapse, etc. | ||||||||||||||||||||||||||||||||
Derivative Financial Instruments | ||||||||||||||||||||||||||||||||
The fair value of derivative assets and liabilities is based upon valuation pricing models, which represents what FGL would expect to receive or pay at the balance sheet date if it canceled the options, entered into offsetting positions, or exercised the options. Fair values for these instruments are determined externally by an independent consulting firm using market-observable inputs, including interest rates, yield curve volatilities, and other factors. The fair value of the embedded derivatives in FGL’s FIA products are derived using market indices, pricing assumptions and historical data. The fair value of futures contracts represents the cumulative unsettled variation margin (open trade equity, net of cash settlements). | ||||||||||||||||||||||||||||||||
Compass evaluates derivative assets and liabilities in accordance with master netting agreements with the derivative counterparties, but reports them on a gross basis on the Consolidated Balance Sheets. Net derivative asset values are determined primarily by quoted futures prices and utilization of the counterparties’ credit-adjusted risk-free rate curves and net derivative liabilities are determined by utilization of a credit-adjusted risk-free rate curve. The credit-adjusted risk-free rates of Compass’ counterparties are based on an independent market-quoted credit default swap rate curve for the counterparties’ debt plus the London Interbank Offered Rate (“LIBOR”) curve as of the end of the reporting period. Compass’ credit-adjusted risk-free rate is based on its cost of debt plus the LIBOR curve as of the end of the reporting period. | ||||||||||||||||||||||||||||||||
Compass’ oil derivatives are swap contracts for notional Bbls of oil at fixed NYMEX West Texas Intermediate (“WTI”) oil prices. The asset and liability values attributable to oil derivatives as of the end of the reporting period are based on (i) the contracted notional volumes, (ii) independent active NYMEX futures price quotes for WTI oil, and (iii) the applicable estimated credit-adjusted risk-free rate curve, as described above. | ||||||||||||||||||||||||||||||||
Compass’ natural gas derivatives are swap contracts for notional Mmbtus of natural gas at posted price indexes, including NYMEX Henry Hub (“HH”) swap contracts. The asset and liability values attributable to natural gas derivatives as of the end of the reporting period are based on (i) the contracted notional volumes, (ii) independent active NYMEX futures price quotes for HH for natural gas swaps, and (iii) the applicable credit-adjusted risk-free rate curve, as described above. | ||||||||||||||||||||||||||||||||
Pension Plan Assets | ||||||||||||||||||||||||||||||||
See Note 18, Employee Benefit Plans with respect to fair value measurements of the Company’s pension plan assets. | ||||||||||||||||||||||||||||||||
Quantitative information regarding significant unobservable inputs used for recurring Level 3 fair value measurements of financial instruments carried at fair value as of September 30, 2014 and 2013 are as follows: | ||||||||||||||||||||||||||||||||
Fair Value at | Range (Weighted average) | |||||||||||||||||||||||||||||||
Assets | Valuation Technique | Unobservable Input(s) | September 30, | September 30, | September 30, | 30-Sep-13 | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | ||||||||||||||||||||||||||||||
Contingent purchase price reduction receivable | Discounted cash flow | Probability of collection | $ | 41.5 | $ | 41 | 88% - 96% (92%) | 88% - 96% (92%) | ||||||||||||||||||||||||
Expected term | 4.5 months | 9 months | ||||||||||||||||||||||||||||||
Discount rate | 1% | 1% | ||||||||||||||||||||||||||||||
Credit insurance risk premium | 12% | 11% | ||||||||||||||||||||||||||||||
Asset-backed securities | Broker-quoted | Offered quotes | 37 | 5 | 100% - 109% | 103% | ||||||||||||||||||||||||||
-101% | ||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | Broker-quoted | Offered quotes | 83.1 | 5.7 | 105% - 121% (118%) | 96% | ||||||||||||||||||||||||||
Corporates | Broker-quoted | Offered quotes | 848 | 404.5 | 62% - 120% (100%) | 0% - 113% (90%) | ||||||||||||||||||||||||||
Corporates | Matrix pricing | Quoted prices | 2 | 56.6 | 142% | 90% - 131% (97%) | ||||||||||||||||||||||||||
Municipal | Broker-quoted | Offered quotes | 37.2 | — | 107% | — | ||||||||||||||||||||||||||
Equity | Broker-quoted | Offered quotes | 6 | — | 100% | — | ||||||||||||||||||||||||||
Option Pricing | Risk-adjusted rate | — | 10.7 | — | 25.00% | |||||||||||||||||||||||||||
Risk-free discount factor | — | 0.999 | ||||||||||||||||||||||||||||||
Risk-adjusted discount factor | — | 0.995 | ||||||||||||||||||||||||||||||
Upward movement factor (Mu) | — | 1.1 | ||||||||||||||||||||||||||||||
Downward movement factor (Md) | — | 0.9 | ||||||||||||||||||||||||||||||
Probability of upward movement (Pu) | — | 48.60% | ||||||||||||||||||||||||||||||
Probability of downward movement (Pd) | — | 51.40% | ||||||||||||||||||||||||||||||
Other invested assets | Black Scholes model | Net asset value of Anchor Path fund | 11.2 | — | 100% | — | ||||||||||||||||||||||||||
Total | $ | 1,066.00 | $ | 523.5 | ||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
FIA embedded derivatives, included in contractholder funds | Discounted cash flow | Market value of option | $ | 1,908.10 | $ | 1,544.40 | 0% - 50% (3%) | 0% - 38% (4%) | ||||||||||||||||||||||||
SWAP rates | 2% - 3% (2%) | 2% - 3% (2%) | ||||||||||||||||||||||||||||||
Mortality multiplier | 80% | 80% | ||||||||||||||||||||||||||||||
Surrender rates | 0.50% - 75% (7%) | 0.50% - 75% (7%) | ||||||||||||||||||||||||||||||
Non-performance risk spread | 0.25% | 0.25% | ||||||||||||||||||||||||||||||
Front Street future policyholder benefit liability | Discounted cash flow | Non-performance risk spread | 151.3 | — | 0.50% - 1.50% | — | ||||||||||||||||||||||||||
Risk margin to reflect uncertainty | 0.50% | — | ||||||||||||||||||||||||||||||
Equity conversion feature of preferred stock | Monte Carlo simulation / Option model | Annualized volatility of equity | — | 330.8 | — | 42% | ||||||||||||||||||||||||||
Discount yield | — | 11% | ||||||||||||||||||||||||||||||
Non-cash accretion rate | — | 0% | ||||||||||||||||||||||||||||||
Calibration adjustment | — | 0% - 1.0% (0.3%) | ||||||||||||||||||||||||||||||
Total | $ | 2,059.40 | $ | 1,875.20 | ||||||||||||||||||||||||||||
The significant unobservable inputs used in the fair value measurement of the contingent purchase price reduction receivable are the probability of collection depending on the outcomes of litigation and regulatory action, the expected term until payment, discount rate and the credit insurance risk premium. Generally, an increase in the assumptions for the expected term, discount rate and credit insurance risk premium would decrease the fair value of the contingent purchase price receivable. An increase in the probability of collection would increase the fair value of the contingent purchase price reduction receivable. | ||||||||||||||||||||||||||||||||
The significant unobservable inputs used in the fair value measurement of the equity investment are revenue multiple and probability of the transaction closing. Significant increases (decreases) in the revenue multiple and the probability of the transaction closing would result in a higher (lower) fair value measurement. Generally, a change in any one unobservable input would not result in a change in any other unobservable input. | ||||||||||||||||||||||||||||||||
The significant unobservable inputs used in the fair value measurement of FIA embedded derivatives included in contractholder funds are market value of option, interest swap rates, mortality multiplier, surrender rates, and non-performance spread. The mortality multiplier at September 30, 2014 and 2013, is based on the 2000 and 1983 annuity tables, respectively and assumes the contractholder population is 50% female and 50% male. Significant increases (decreases) in the market value of option in isolation would result in a higher (lower) fair value measurement. Significant increases (decreases) in interest swap rates, mortality multiplier, surrender rates, or non-performance spread in isolation would result in a lower (higher) fair value measurement. Generally, a change in any one unobservable input would not result in a change in any other unobservable input. | ||||||||||||||||||||||||||||||||
The significant unobservable inputs used in the fair value measurement of the equity conversion feature of the Company’s Preferred Stock are annualized volatility of the market value of the Company’s listed shares of common stock, the discount yield as of the valuation date, a calibration factor to the issued date fair value of the Preferred Stock and the forecasted non-cash accretion rate. Significant increases (decreases) in any of the inputs in isolation would result in a significantly higher (lower) fair value measurement. Generally, an increase in the assumptions used for the volatility and discount yield assumptions would increase the fair value of the equity conversion feature of Preferred Stock, and maintaining a higher forecasted non-cash accretion rate, would also increase the fair value of the equity conversion feature of Preferred Stock. A decrease in the calibration factor would result in an increase in the fair value of the equity conversion feature of Preferred Stock. | ||||||||||||||||||||||||||||||||
The significant unobservable inputs used in the fair value measurement of the Front Street future policyholder benefit liability are non-performance risk spread and risk spread to reflect uncertainty. Significant increases (decreases) in non-performance risk spread and risk margin to reflect uncertainty would result in a lower (higher) fair value measurement. | ||||||||||||||||||||||||||||||||
The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for Fiscal 2014, 2013 and 2012. This summary excludes any impact of amortization of VOBA and DAC. The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. | ||||||||||||||||||||||||||||||||
Fiscal 2014 | ||||||||||||||||||||||||||||||||
Balance at Beginning | Total Gains (Losses) | Net transfer In (Out) of | Balance at End of | |||||||||||||||||||||||||||||
of Period | Included in | Included in | Purchases | Sales | Settlements | Level 3 (a) | Period | |||||||||||||||||||||||||
Earnings | AOCI | |||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Contingent purchase price reduction receivable | $ | 41 | $ | 0.5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 41.5 | ||||||||||||||||
Fixed maturity securities available-for-sale: | ||||||||||||||||||||||||||||||||
Asset-backed securities | 5 | — | (0.3 | ) | 36.1 | — | — | (3.8 | ) | 37 | ||||||||||||||||||||||
Commercial mortgage-backed securities | 5.7 | — | — | 83.7 | (0.3 | ) | — | (6.0 | ) | 83.1 | ||||||||||||||||||||||
Corporates | 461.1 | — | 19.1 | 398.1 | (11.8 | ) | (2.4 | ) | (14.1 | ) | 850 | |||||||||||||||||||||
Municipals | — | — | 2.2 | 35 | — | — | — | 37.2 | ||||||||||||||||||||||||
Equity securities - trading | 10.7 | 1.3 | — | 1.5 | — | (13.5 | ) | — | — | |||||||||||||||||||||||
Equity securities - available-for-sale | — | — | 1.2 | 4.8 | — | — | — | 6 | ||||||||||||||||||||||||
Other invested assets | — | (0.1 | ) | — | 11.3 | — | — | — | 11.2 | |||||||||||||||||||||||
Total assets at fair value | $ | 523.5 | $ | 1.7 | $ | 22.2 | $ | 570.5 | $ | (12.1 | ) | $ | (15.9 | ) | $ | (23.9 | ) | $ | 1,066.00 | |||||||||||||
Balance at Beginning | Total (Gains) Losses | Net transfer In (Out) of | Balance at End of | |||||||||||||||||||||||||||||
of Period | Included in | Included in | Purchases | Sales | Settlements | Level 3 (a) | Period | |||||||||||||||||||||||||
Earnings | AOCI | |||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
FIA embedded derivatives, included in contractholder funds | $ | 1,544.40 | $ | 363.7 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,908.10 | ||||||||||||||||
Front Street future policyholder benefit liability | — | 7 | — | 150.6 | — | (6.3 | ) | — | 151.3 | |||||||||||||||||||||||
Equity conversion feature of preferred stock | 330.8 | 12.7 | — | — | — | (343.5 | ) | — | — | |||||||||||||||||||||||
Total liabilities at fair value | $ | 1,875.20 | $ | 383.4 | $ | — | $ | 150.6 | $ | — | $ | (349.8 | ) | $ | — | $ | 2,059.40 | |||||||||||||||
(a) | The net transfers in and out of Level 3 during Fiscal 2014 were exclusively to or from Level 2. | |||||||||||||||||||||||||||||||
Fiscal 2013 | ||||||||||||||||||||||||||||||||
Balance at Beginning | Total Gains (Losses) | Net transfer In (Out) of | Balance at End of | |||||||||||||||||||||||||||||
of Period | Included in | Included in | Purchases | Sales | Settlements | Level 3 (a) | Period | |||||||||||||||||||||||||
Earnings | AOCI | |||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Contingent purchase price reduction receivable | $ | 41 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 41 | ||||||||||||||||
Fixed maturity securities available-for-sale: | ||||||||||||||||||||||||||||||||
Asset-backed securities | 15.9 | — | (0.2 | ) | — | — | (0.2 | ) | (10.5 | ) | 5 | |||||||||||||||||||||
Commercial mortgage-backed securities | 5 | — | (0.3 | ) | 1 | — | — | — | 5.7 | |||||||||||||||||||||||
Corporates | 135.3 | (0.3 | ) | (13.4 | ) | 406 | (9.6 | ) | (23.1 | ) | (33.8 | ) | 461.1 | |||||||||||||||||||
Hybrids | 8.8 | — | (0.1 | ) | — | — | — | (8.7 | ) | — | ||||||||||||||||||||||
Equity securities - trading | — | — | — | 10.7 | — | — | — | 10.7 | ||||||||||||||||||||||||
Equity securities - available-for-sale | — | 0.2 | — | 10.5 | (10.7 | ) | — | — | — | |||||||||||||||||||||||
Total assets at fair value | $ | 206 | $ | (0.1 | ) | $ | (14.0 | ) | $ | 428.2 | $ | (20.3 | ) | $ | (23.3 | ) | $ | (53.0 | ) | $ | 523.5 | |||||||||||
Balance at Beginning | Total (Gains) Losses | Net transfer In (Out) of | Balance at End of | |||||||||||||||||||||||||||||
of Period | Included in | Included in | Purchases | Sales | Settlements | Level 3 (a) | Period | |||||||||||||||||||||||||
Earnings | AOCI | |||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
FIA embedded derivatives, included in contractholder funds | $ | 1,550.80 | $ | (6.4 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,544.40 | |||||||||||||||
Equity conversion feature of preferred stock | 232 | 101.6 | — | — | — | (2.8 | ) | — | 330.8 | |||||||||||||||||||||||
Total liabilities at fair value | $ | 1,782.80 | $ | 95.2 | $ | — | $ | — | $ | — | $ | (2.8 | ) | $ | — | $ | 1,875.20 | |||||||||||||||
(a) | The net transfers in and out of Level 3 during Fiscal 2013 was exclusively to or from Level 2. | |||||||||||||||||||||||||||||||
Fiscal 2012 | ||||||||||||||||||||||||||||||||
Balance at Beginning | Total Gains (Losses) | Net transfer In (Out) of | Balance at End of | |||||||||||||||||||||||||||||
of Period | Included in | Included in | Purchases | Sales | Settlements | Level 3 (a) | Period | |||||||||||||||||||||||||
Earnings | AOCI | |||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Contingent purchase price reduction receivable | $ | — | $ | 41 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 41 | ||||||||||||||||
Fixed maturity securities available-for-sale: | ||||||||||||||||||||||||||||||||
Asset-backed securities | 374.5 | — | 7.4 | 410.7 | — | (38.8 | ) | (737.9 | ) | 15.9 | ||||||||||||||||||||||
Commercial mortgage-backed securities | — | — | — | 5 | — | — | — | 5 | ||||||||||||||||||||||||
Corporates | 159.7 | — | (3.6 | ) | 1.3 | (26.8 | ) | (14.2 | ) | 18.9 | 135.3 | |||||||||||||||||||||
Hybrids | 5.2 | — | (0.1 | ) | — | — | — | 3.7 | 8.8 | |||||||||||||||||||||||
Municipals | — | — | 0.1 | 10.2 | — | — | (10.3 | ) | — | |||||||||||||||||||||||
Agency residential mortgage-backed securities | 3.3 | — | — | — | — | — | (3.3 | ) | — | |||||||||||||||||||||||
Non-agency residential mortgage-backed securities | 3.8 | (0.1 | ) | — | — | (0.5 | ) | (0.3 | ) | (2.9 | ) | — | ||||||||||||||||||||
Total assets at fair value | $ | 546.5 | $ | 40.9 | $ | 3.8 | $ | 427.2 | $ | (27.3 | ) | $ | (53.3 | ) | $ | (731.8 | ) | $ | 206 | |||||||||||||
Balance at Beginning | Total (Gains) Losses | Net transfer In (Out) of | Balance at End of | |||||||||||||||||||||||||||||
of Period | Included in | Included in | Purchases | Sales | Settlements | Level 3 (a) | Period | |||||||||||||||||||||||||
Earnings | AOCI | |||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
FIA embedded derivatives, included in contractholder funds | $ | 1,396.30 | $ | 154.5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,550.80 | ||||||||||||||||
Equity conversion feature of preferred stock | 75.4 | 156.6 | — | — | — | — | — | 232 | ||||||||||||||||||||||||
Available-for-sale embedded derivatives | 0.4 | (0.4 | ) | — | — | — | — | — | — | |||||||||||||||||||||||
Total liabilities at fair value | $ | 1,472.10 | $ | 310.7 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,782.80 | ||||||||||||||||
(a) | The net transfers in and out of Level 3 during Fiscal 2012 was exclusively to or from Level 2. | |||||||||||||||||||||||||||||||
FGL reviews the fair value hierarchy classifications each reporting period. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in and out of Level 3, or between other levels, at the beginning fair value for the reporting period in which the changes occur. There were no transfers between Level 1 and Level 2 for Fiscal 2014. FGL transferred $79.3 U.S. Government securities from Level 1 into Level 2 during Fiscal 2013 reflecting the level of market activity in these instruments. There were no transfers between Level 1 and Level 2 for Fiscal 2012. | ||||||||||||||||||||||||||||||||
Primary market issuance and secondary market activity for certain asset-backed, hybrid and corporate securities during Fiscal 2014, 2013 and 2012 increased the market observable inputs used to establish fair values for similar securities. These factors, along with more consistent pricing from third-party sources, resulted in FGL concluding that there is sufficient trading activity in similar instruments to support classifying these securities as Level 2 as of September 30, 2014, 2013 and 2012. Accordingly, FGL’s assessment resulted in a net transfer out of Level 3 of $23.9 related to asset-backed securities, commercial mortgage-backed securities and corporate securities during Fiscal 2014, a net transfer out of Level 3 of $53.0 related to asset-backed securities, corporate and hybrid securities during Fiscal 2013, and a net transfer out of $731.8 related to asset-backed, corporate, hybrid, municipal and residential mortgage-backed securities during Fiscal 2012. | ||||||||||||||||||||||||||||||||
Non-Recurring Fair Value Measurements | ||||||||||||||||||||||||||||||||
Goodwill, intangible assets and other long-lived assets are tested annually or if an event occurs that indicates an impairment loss may have been incurred using fair value measurements with unobservable inputs (Level 3). | ||||||||||||||||||||||||||||||||
As discussed in Note 2, Significant Accounting Policies and Practices and Recent Accounting Pronouncements, Compass reviews its unproved oil and natural gas property costs on a quarterly basis to assess for impairment and transfer unproved costs to proved properties as a result of extensions or discoveries from drilling operations or determine that no proved reserves are attributable to such costs. Compass expects these costs to be evaluated over approximately four years and transferred to the depletable portion of the full cost pool during that time. As a result of this evaluation, Compass impaired approximately $6.1 and $10.3 of undeveloped properties which were transferred to the depletable portion of the full cost pool during Fiscal 2014 and the period from inception to September 30, 2013, respectively. The impairment was recorded to reflect the estimated fair value based on Compass' evaluation of potential oil and natural gas reserves from these properties. | ||||||||||||||||||||||||||||||||
The fair value measurements utilized as part of the impairment calculation include significant unobservable inputs that are considered to be Level 3 within the fair value hierarchy. These unobservable inputs include management’s estimates of reserve quantities, commodity prices, operating costs, development costs, discount factors and other risk factors applied to the future cash flows. | ||||||||||||||||||||||||||||||||
Financial Assets and Liabilities Not Measured at Fair Value | ||||||||||||||||||||||||||||||||
The carrying amount, estimated fair value and the level of the fair value hierarchy of the Company’s financial instrument assets and liabilities which are not measured at fair value on the Consolidated Balance Sheets are summarized as follows: | ||||||||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Estimated Fair Value | Carrying Amount | ||||||||||||||||||||||||||||
Assets (a) | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,319.20 | $ | — | $ | — | $ | 1,319.20 | $ | 1,319.20 | ||||||||||||||||||||||
Other invested assets | — | — | 151.7 | 151.7 | 151.7 | |||||||||||||||||||||||||||
Asset-based loans | — | — | 811.6 | 811.6 | 811.6 | |||||||||||||||||||||||||||
Total financial assets | $ | 1,319.20 | $ | — | $ | 963.3 | $ | 2,282.50 | $ | 2,282.50 | ||||||||||||||||||||||
Liabilities (a) | ||||||||||||||||||||||||||||||||
Total debt (b) | $ | — | $ | 5,308.50 | $ | — | $ | 5,308.50 | $ | 5,157.80 | ||||||||||||||||||||||
Investment contracts, included in contractholder funds | — | — | 13,108.80 | 13,108.80 | 14,555.40 | |||||||||||||||||||||||||||
Total financial liabilities | $ | — | $ | 5,308.50 | $ | 13,108.80 | $ | 18,417.30 | $ | 19,713.20 | ||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Estimated Fair Value | Carrying Amount | ||||||||||||||||||||||||||||
Assets (a) | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,899.70 | $ | — | $ | — | $ | 1,899.70 | $ | 1,899.70 | ||||||||||||||||||||||
Other invested assets | — | — | 31.2 | 31.2 | 31.2 | |||||||||||||||||||||||||||
Asset-based loans | — | — | 560.4 | 560.4 | 560.4 | |||||||||||||||||||||||||||
Total financial assets | $ | 1,899.70 | $ | — | $ | 591.6 | $ | 2,491.30 | $ | 2,491.30 | ||||||||||||||||||||||
Liabilities (a) | ||||||||||||||||||||||||||||||||
Total debt (b) | $ | — | $ | 4,773.20 | $ | — | $ | 4,773.20 | $ | 4,896.10 | ||||||||||||||||||||||
Redeemable preferred stock, excluding equity conversion feature | — | — | 377.1 | 377.1 | 329.4 | |||||||||||||||||||||||||||
Investment contracts, included in contractholder funds | — | — | 12,378.60 | 12,378.60 | 13,703.80 | |||||||||||||||||||||||||||
Total financial liabilities | $ | — | $ | 4,773.20 | $ | 12,755.70 | $ | 17,528.90 | $ | 18,929.30 | ||||||||||||||||||||||
(a) | The carrying amounts of trade receivables, accounts payable, accrued investment income and portions of other insurance liabilities approximate fair value due to their short duration and, accordingly, they are not presented in the tables above. | |||||||||||||||||||||||||||||||
(b) | The fair values of debt set forth above are generally based on quoted or observed market prices. | |||||||||||||||||||||||||||||||
Mortgage Loans on Real Estate (included within Other Invested Assets) | ||||||||||||||||||||||||||||||||
The fair value of mortgage loans on real estate is established using a discounted cash flow method based on credit rating, maturity and future income. The ratings for mortgages in good standing are based on property type, location, market conditions, occupancy, debt-service coverage, loan-to-value, quality of tenancy, borrower and payment record. The fair value for impaired mortgage loans is based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s market price or the fair value of the collateral if the loan is collateral dependent. The inputs used to measure the fair value of the mortgage loans on real estate are classified as Level 3 within the fair value hierarchy. | ||||||||||||||||||||||||||||||||
In September 2013, FGL initiated a commercial loan program with Principal Real Estate Investors (“Principal”). FGL has funded twelve commercial mortgage loans (“CMLs”) originated and serviced by Principal with a fair value of $135.4 at September 30, 2014, which is equal to amortized cost, as these loans were recently originated, none are past due, there are no material credit concerns with the borrower or the property and there has not been material changes in market interest since origination. Principal monitors the status of the payment obligations, the credit quality of the borrower and the property as well as for other events that may impact the performance and principal repayment of the CMLs. Additionally, FGL reviews Principal’s valuation methodologies and processes to perform assessments. A CML’s current standing and payment obligations are material factors in evaluating CMLs carrying value. At September 30, 2014, all twelve CMLs are current with no payments past due and there are no credit or other events which would require impairment evaluation. | ||||||||||||||||||||||||||||||||
Policy Loans (included within Other Invested Assets) | ||||||||||||||||||||||||||||||||
Also included in other invested assets are policy loans. FGL has not attempted to determine the fair values associated with its policy loans, as they believe any differences between carrying value and the fair values afforded these instruments are immaterial to its consolidated financial position and, accordingly, the cost to provide such disclosure does not justify the benefit to be derived. | ||||||||||||||||||||||||||||||||
Valuation Methodology | ||||||||||||||||||||||||||||||||
Investment contracts include deferred annuities, FIA, IUL and immediate annuities. The fair values of deferred annuity, FIA, and IUL contracts are based on their cash surrender value (i.e. the cost FGL would incur to extinguish the liability) as these contracts are generally issued without an annuitization date. The fair value of immediate annuities contracts is derived by calculating a new fair value interest rate using the updated yield curve and treasury spreads as of the respective reporting date. At September 30, 2014 and 2013, this resulted in lower fair value reserves relative to the carrying value. FGL is not required to and has not estimated the fair value of the liabilities under contracts that involve significant mortality or morbidity risks, as these liabilities fall within the definition of insurance contracts that are exceptions from financial instruments that require disclosure of fair value. | ||||||||||||||||||||||||||||||||
The fair value of Preferred Stock, excluding the equity conversion feature, is derived under the same model and using the same inputs and assumptions, as is used to determine the fair value of the equity conversion feature of said redeemable preferred stock, as is discussed in the disclosures pertaining to financial instruments measured at fair value above. | ||||||||||||||||||||||||||||||||
The fair value of the asset-based loans originated by Salus approximate their carrying value, as those loans carry a variable rate, are revolving in nature, and can be settled at the demand of either party. |
Receivables_net
Receivables, net | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||
Receivables, net | ' | ||||||||||||||||||||
Receivables, net | |||||||||||||||||||||
“Receivables, net” in the accompanying Consolidated Balance Sheets consist of the following: | |||||||||||||||||||||
September 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Trade accounts receivable | |||||||||||||||||||||
Consumer products | $ | 487.7 | $ | 518.7 | |||||||||||||||||
Oil and natural gas | 20.3 | 16.7 | |||||||||||||||||||
Other | 0.6 | — | |||||||||||||||||||
Total trade accounts receivable | 508.6 | 535.4 | |||||||||||||||||||
Less: Allowance for doubtful trade accounts receivable | 48.6 | 37.4 | |||||||||||||||||||
Total trade accounts receivable, net | 460 | 498 | |||||||||||||||||||
Contingent purchase price reduction receivable (Note 24) | 41.5 | 41 | |||||||||||||||||||
Other receivables | 83.6 | 72.3 | |||||||||||||||||||
Total receivables, net | $ | 585.1 | $ | 611.3 | |||||||||||||||||
The following is an analysis of the allowance for doubtful trade accounts receivable: | |||||||||||||||||||||
Period | Balance at Beginning of | Charged to | Deductions | Other | Balance at | ||||||||||||||||
Period | Costs and | Adjustments | End of Period | ||||||||||||||||||
Expenses | |||||||||||||||||||||
Fiscal 2014 | $ | 37.4 | $ | 7.4 | $ | (2.4 | ) | $ | 6.2 | $ | 48.6 | ||||||||||
Fiscal 2013 | 21.9 | 15.5 | — | — | 37.4 | ||||||||||||||||
Fiscal 2012 | 14.1 | 7.8 | — | — | 21.9 | ||||||||||||||||
Inventories_net
Inventories, net | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Inventories, net [Abstract] | ' | |||||||
Inventories, net | ' | |||||||
Inventories, net | ||||||||
“Inventories, net” in the accompanying Consolidated Balance Sheets consist of the following: | ||||||||
September 30, | ||||||||
2014 | 2013 | |||||||
Raw materials | $ | 104.1 | $ | 97.3 | ||||
Work-in-process | 35.3 | 40.6 | ||||||
Finished goods | 495.8 | 495 | ||||||
Total inventories, net | $ | 635.2 | $ | 632.9 | ||||
Properties_including_oil_and_g
Properties, including oil and gas properties, net | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Properties, including Oil and Natural Gas Properties, net | ' | |||||||
Properties, including Oil and Natural Gas Properties, net | ||||||||
Properties, including oil and natural gas properties, net, consist of the following: | ||||||||
September 30, | ||||||||
2014 | 2013 | |||||||
Oil and natural gas properties (full cost accounting method) | ||||||||
Unproved oil and natural gas properties and development costs not being amortized | $ | 20.2 | $ | 36.4 | ||||
Proved developed and undeveloped oil and natural gas properties | 493.9 | 546 | ||||||
Less: Accumulated depletion | (68.4 | ) | (30.1 | ) | ||||
Total oil and natural gas properties, net | 445.7 | 552.3 | ||||||
Other properties | ||||||||
Land, buildings and improvements | 166.9 | 169.8 | ||||||
Gas gathering assets | 21.1 | 21.1 | ||||||
Machinery, equipment and other | 496.3 | 420.6 | ||||||
Capitalized leases | 99.3 | 67.7 | ||||||
Construction in progress | 32.3 | 46.8 | ||||||
Total other properties, at cost | 815.9 | 726 | ||||||
Less: Accumulated depreciation | 353 | 285 | ||||||
Total other properties, net | 462.9 | 441 | ||||||
Total properties, including oil and natural gas properties, net | $ | 908.6 | $ | 993.3 | ||||
In Fiscal 2014 and 2013, Compass recognized impairments of $81.0 and $54.3 (representing HGI’s proportionate share), respectively, to proved oil and natural gas properties. See Note 2, Significant Accounting Policies and Practices and Recent Accounting Pronouncements and Note 9, Fair Value of Financial Instruments for additional information. |
Goodwill_and_Intangibles_inclu
Goodwill and Intangibles, including DAC and VOBA, net | 12 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Goodwill and Intangibles, including DAC and VOBA, net | ' | |||||||||||||||||||||||||
Goodwill and Intangibles, including DAC and VOBA, net | ||||||||||||||||||||||||||
The changes in the carrying amounts of goodwill and intangible assets, including DAC and VOBA balances, were as follows: | ||||||||||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||||
Goodwill | Indefinite Lived | Definite Lived | VOBA | DAC | Total | |||||||||||||||||||||
Balance at September 30, 2012 | $ | 694.2 | $ | 841.1 | $ | 873.9 | $ | 104.3 | $ | 169.2 | $ | 1,988.50 | ||||||||||||||
Acquisitions (Note 4) | 786.6 | 331 | 188.3 | — | — | 519.3 | ||||||||||||||||||||
Deferrals | — | — | — | — | 147.4 | 147.4 | ||||||||||||||||||||
Less: Components of amortization - | ||||||||||||||||||||||||||
Periodic amortization | — | — | (77.8 | ) | (194.6 | ) | (62.1 | ) | (334.5 | ) | ||||||||||||||||
Interest | — | — | — | 21.8 | 9.5 | 31.3 | ||||||||||||||||||||
Unlocking | — | — | — | 35.8 | 7.3 | 43.1 | ||||||||||||||||||||
Adjustment for unrealized investment losses, net | — | — | — | 258 | 69.3 | 327.3 | ||||||||||||||||||||
Effect of translation | (4.1 | ) | 6 | 0.7 | — | — | 6.7 | |||||||||||||||||||
Balance at September 30, 2013 | 1,476.70 | 1,178.10 | 985.1 | 225.3 | 340.6 | 2,729.10 | ||||||||||||||||||||
Acquisitions (Note 4) | 65.8 | 46.7 | 23.5 | — | — | 70.2 | ||||||||||||||||||||
Deferrals | — | — | — | — | 239 | 239 | ||||||||||||||||||||
Less: Components of amortization - | ||||||||||||||||||||||||||
Periodic amortization | — | — | (81.7 | ) | (92.4 | ) | (58.0 | ) | (232.1 | ) | ||||||||||||||||
Interest | — | — | — | 15 | 13.6 | 28.6 | ||||||||||||||||||||
Unlocking | — | — | — | 21.6 | 2.7 | 24.3 | ||||||||||||||||||||
Adjustment for unrealized investment (gains), net | — | — | — | (82.7 | ) | (74.1 | ) | (156.8 | ) | |||||||||||||||||
Effect of translation | (17.7 | ) | (8.9 | ) | (9.7 | ) | — | — | (18.6 | ) | ||||||||||||||||
Balance at September 30, 2014 | $ | 1,524.80 | $ | 1,215.90 | $ | 917.2 | $ | 86.8 | $ | 463.8 | $ | 2,683.70 | ||||||||||||||
Intangible assets are recorded at cost or at fair value if acquired in a purchase business combination. Definite lived intangible assets include customer relationships, proprietary technology intangibles and certain trade names that are amortized using the straight-line method over their estimated useful lives of ranging from one to twenty years. | ||||||||||||||||||||||||||
Goodwill and indefinite lived trade name intangibles are not amortized and are tested for impairment at least annually at the Company’s August financial period end, or more frequently if an event or circumstance indicates that an impairment loss may have been incurred between annual impairment tests. | ||||||||||||||||||||||||||
During Fiscal 2014, Spectrum Brands recorded an adjustment of $3.5 to goodwill to finalize the purchase accounting for the acquisition of the HHI Business from Stanley Black & Decker. The adjustment related to changes in the valuation of working capital accounts and deferred taxes based on the final determination of fair value. These adjustments were not retrospectively applied to the opening balance sheet as the amounts were deemed immaterial. | ||||||||||||||||||||||||||
During Fiscal 2014, the Company recorded additions to goodwill and intangible assets related to the acquisitions of Liquid Fence, FOH and CorAmerica. See Note 4, Acquisitions, for further detail. | ||||||||||||||||||||||||||
Amortization of DAC and VOBA is based on the amount of gross margins or profits recognized, including investment gains and losses. The interest accrual rate utilized to calculate the accretion of interest on VOBA ranged from 4.0% to 5.0%. The adjustment for unrealized net investment gains and losses represents the amount of DAC and VOBA that would have been amortized if such unrealized gains and losses had been recognized. This is referred to as the “shadow adjustments” as the additional amortization is reflected in other comprehensive income rather than the statement of operations. As of September 30, 2014 and 2013, the VOBA balance included cumulative adjustments for net unrealized investment (gains) of $(164.2) and $(81.4), respectively, and the DAC balances included cumulative adjustments for net unrealized investment (gains)/losses of $(55.5) and $18.6, respectively. Amortization of VOBA for Fiscal 2014, 2013 and 2012 was $55.8, $137.0 and $145.5, respectively. Amortization of DAC for Fiscal 2014, 2013 and 2012 was $41.7, $45.3 and $15.2, respectively. Accumulated amortization of VOBA for Fiscal 2014 and 2013 was $338.4 and $270.5, respectively. | ||||||||||||||||||||||||||
The above DAC balances include $32.7 and $26.2 of DSI, net of shadow adjustments, as of September 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||||
Definite lived intangible assets are summarized as follows: | ||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | |||||||||||||||||||||||||
Cost | Accumulated Amortization | Net | Cost | Accumulated Amortization | Net | Amortizable Life | ||||||||||||||||||||
Customer relationships | $ | 877.1 | $ | (204.6 | ) | $ | 672.5 | $ | 885.9 | $ | (160.8 | ) | $ | 725.1 | 15 to 20 years | |||||||||||
Trade names | 171.1 | (61.0 | ) | 110.1 | 171.6 | (44.7 | ) | 126.9 | 1 to 12 years | |||||||||||||||||
Technology assets | 192.2 | (57.6 | ) | 134.6 | 172.1 | (39.0 | ) | 133.1 | 4 to 17 years | |||||||||||||||||
$ | 1,240.40 | $ | (323.2 | ) | $ | 917.2 | $ | 1,229.60 | $ | (244.5 | ) | $ | 985.1 | |||||||||||||
Amortization expense for definite lived intangible assets is as follows: | ||||||||||||||||||||||||||
Year ended September 30, | ||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||
Customer relationships | $ | 46.7 | $ | 44.9 | $ | 40.2 | ||||||||||||||||||||
Trade names | 16.4 | 16.6 | 14.4 | |||||||||||||||||||||||
Technology assets | 18.6 | 16.3 | 9.1 | |||||||||||||||||||||||
$ | 81.7 | $ | 77.8 | $ | 63.7 | |||||||||||||||||||||
The Company estimates annual amortization expense of amortizable intangible assets for the next five fiscal years will approximate $77.5 per year. | ||||||||||||||||||||||||||
The weighted average amortization period for VOBA is approximately 4.8 years. Estimated amortization expense for VOBA in future fiscal periods is as follows: | ||||||||||||||||||||||||||
Estimated Amortization Expense | ||||||||||||||||||||||||||
Fiscal Year | VOBA | |||||||||||||||||||||||||
2015 | $ | 42.8 | ||||||||||||||||||||||||
2016 | 38.4 | |||||||||||||||||||||||||
2017 | 31.2 | |||||||||||||||||||||||||
2018 | 25 | |||||||||||||||||||||||||
2019 | 25.5 | |||||||||||||||||||||||||
2020 and thereafter | 88.1 | |||||||||||||||||||||||||
Accounts_Payable_and_Other_Cur
Accounts Payable and Other Current Liabilities | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Accounts Payable and Other Current Liabilities [Abstract] | ' | |||||||
Accounts Payable and Other Current Liabilities | ' | |||||||
Accounts Payable and Other Current Liabilities | ||||||||
“Accounts payable and other current liabilities” in the accompanying Consolidated Balance Sheets consist of the following: | ||||||||
September 30, | ||||||||
2014 | 2013 | |||||||
Accounts payable | $ | 535.7 | $ | 530.3 | ||||
Accrued expenses and other | 215.8 | 206.1 | ||||||
Wages and benefits | 157.5 | 134.2 | ||||||
Accrued interest | 57.9 | 53.4 | ||||||
Income taxes payable | 39.9 | 48.9 | ||||||
Oil and natural gas revenues and royalties payable | 14.4 | 14.9 | ||||||
Restructuring and related charges | 11.8 | 16.7 | ||||||
Accrued dividends on Preferred Stock | — | 8.2 | ||||||
Total accounts payable and other current liabilities | $ | 1,033.00 | $ | 1,012.70 | ||||
Debt
Debt | 12 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
Debt | ' | ||||||||||||||
Debt | |||||||||||||||
The Company’s consolidated debt consists of the following: | |||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||
Amount | Rate | Amount | Rate | ||||||||||||
HGI: | |||||||||||||||
7.875% Senior Secured Notes, due July 15, 2019 | $ | 604.4 | 7.9 | % | $ | 925 | 7.9 | % | |||||||
7.75% Senior Unsecured Notes, due January 15, 2022 | 750 | 7.8 | % | — | — | % | |||||||||
Spectrum Brands: | |||||||||||||||
CAD Term Loan, due December 17, 2019 | 34.2 | 5.1 | % | 81.4 | 5.1 | % | |||||||||
Term Loan, due September 4, 2017 (Tranche A) | 648.4 | 3 | % | 850 | 3 | % | |||||||||
Term Loan, due September 4, 2019 (Tranche C) | 509.9 | 3.6 | % | 300 | 3.6 | % | |||||||||
Term Loan, due December 17, 2019 (Tranche B) | — | — | % | 513.3 | 4.6 | % | |||||||||
Euro Term Loan, due September 4, 2019 | 283.3 | 3.8 | % | — | — | % | |||||||||
6.75% Senior Notes, due March 15, 2020 | 300 | 6.8 | % | 300 | 6.8 | % | |||||||||
6.375% Senior Notes, due November 15, 2020 | 520 | 6.4 | % | 520 | 6.4 | % | |||||||||
6.625% Senior Notes, due November 15, 2022 | 570 | 6.6 | % | 570 | 6.6 | % | |||||||||
ABL Facility, expiring May 24, 2017 | — | 2.5 | % | — | 5.7 | % | |||||||||
Other notes and obligations | 36.6 | 8.8 | % | 28.5 | 8.5 | % | |||||||||
Capitalized lease obligations | 94.7 | 6.1 | % | 67.4 | 6.2 | % | |||||||||
FGH | |||||||||||||||
6.375% Senior Notes, due April 1, 2021 | 300 | 6.4 | % | 300 | 6.4 | % | |||||||||
Compass | |||||||||||||||
Compass Credit Agreement, due February 14, 2018 | 243.2 | 2.7 | % | 271.2 | 2.7 | % | |||||||||
Salus | |||||||||||||||
Unaffiliated long-term debt of consolidated variable-interest entity | 193 | 6.7 | % | 182.9 | 6.6 | % | |||||||||
Secured borrowings under non-qualifying loan participations | 106.8 | 10.8 | % | — | — | % | |||||||||
Total | 5,194.50 | 4,909.70 | |||||||||||||
Original issuance (discounts) premiums on debt, net | (36.7 | ) | (13.6 | ) | |||||||||||
Total debt | 5,157.80 | 4,896.10 | |||||||||||||
Less current maturities | 96.7 | 102.9 | |||||||||||||
Non-current portion of debt | $ | 5,061.10 | $ | 4,793.20 | |||||||||||
Aggregate scheduled maturities of debt as of September 30, 2014 are as follows: | |||||||||||||||
Fiscal Year | Scheduled Maturities | ||||||||||||||
HGI - Parent Only | Consolidated | ||||||||||||||
2015 | $ | — | $ | 97.4 | |||||||||||
2016 | — | 77.6 | |||||||||||||
2017 | — | 563.7 | |||||||||||||
2018 | — | 256.3 | |||||||||||||
2019 | 604.4 | 1,470.90 | |||||||||||||
Thereafter | 750 | 2,728.60 | |||||||||||||
$ | 1,354.40 | $ | 5,194.50 | ||||||||||||
HGI | |||||||||||||||
In December 2012, the Company issued the 7.875% Notes and used part of the proceeds of the offering to accept for purchase $498.0 aggregate principal amount of its 10.625% Notes pursuant to a tender offer for the 10.625% Notes. Additionally, the Company deposited sufficient funds in trust with the trustee under the indenture governing the 10.625% Notes in satisfaction and discharge of the remaining $2.0 aggregate principal amount of the 10.625% Notes (the “Satisfaction and Discharge”). | |||||||||||||||
The remaining 10.625% Notes were redeemed by the trustee on January 23, 2013. In connection with the Tender Offer and Satisfaction and Discharge, HGI recorded $58.9 of charges to “Interest Expense” in the Consolidated Statements of Operations for Fiscal 2013, consisting of $45.7 cash charges for fees and expenses related to the Tender Offer, $0.2 cash charges related to the Satisfaction and Discharge and $13.0 of non-cash charges for the write down of debt issuance costs and net unamortized discount. | |||||||||||||||
The 7.875% Notes were sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain persons in offshore transactions in reliance on Regulation S, under the Securities Act. The 7.875% Notes were issued at an aggregate price equal to 99.36% of the principal amount thereof, with a net original issue discount of $4.5. Interest on the 7.875% Notes is payable semi-annually, through July 15, 2019. The 7.875% Notes are collateralized with a first priority lien on substantially all of the assets directly held by HGI, including stock in HGI’s direct subsidiaries (with the exception of Zap.Com, but including Spectrum Brands, FSHoldco, HGI Energy and HGI Funding) and the HGI’s directly held cash and investment securities. | |||||||||||||||
In connection with the 7.875% Note offering the Company recorded $20.0 of fees during Fiscal 2013. These fees were classified as “Other assets” in the accompanying Consolidated Balance Sheets as of September 30, 2013, and are being amortized to interest expense utilizing the effective interest method over the term of the 7.875% Notes. | |||||||||||||||
The Company has the option to redeem the 7.875% Notes prior to January 15, 2016 at a redemption price equal to 100% of the principal amount plus a make-whole premium and accrued and unpaid interest, if any, to the date of redemption. At any time on or after January 15, 2016, the Company may redeem some or all of the 7.875% Notes at certain fixed redemption prices expressed as percentages of the principal amount, plus accrued and unpaid interest. At any time prior to January 15, 2016, the Company may redeem up to 35% of the original aggregate principal amount of the 7.875% Notes with net cash proceeds received by us from certain equity offerings at a price equal to 107.875% of the principal amount of the 7.875% Notes redeemed, plus accrued and unpaid interest, if any, to the date of redemption, provided that redemption occurs within 90 days of the closing date of such equity offering, and at least 65% of the aggregate principal amount of the 7.875% Notes remains outstanding immediately thereafter. | |||||||||||||||
The indenture governing the 7.875% Notes contains covenants limiting, among other things, and subject to certain qualifications and exceptions, the Company’s ability, and, in certain cases, the ability of the Company’s subsidiaries, to incur additional indebtedness; create liens; engage in sale-leaseback transactions; pay dividends or make distributions in respect of capital stock; make certain restricted payments; sell assets; engage in transactions with affiliates; or consolidate or merge with, or sell substantially all of the Company’s assets to, another person. The Company is also required to maintain compliance with certain financial tests, including minimum liquidity and collateral coverage ratios that are based on the fair market value of the collateral, including the Company’s equity interests in Spectrum Brands and its other subsidiaries such as FGL and HGI Funding. At September 30, 2014, the Company was in compliance with all covenants under the indenture governing the 7.875% Notes. | |||||||||||||||
On July 18, 2013, HGI entered into a Purchase Agreement, as amended by the Purchase Agreement Amendment dated as of July 19, 2013 (as so amended, the “Purchase Agreement”). In connection with the Purchase Agreement, on July 23, 2013, HGI issued $225.0 aggregate principal amount of 7.875% senior secured notes due 2019. The New 7.875% Notes were issued under the same indenture governing the 7.875% Notes by and between the Company and Wells Fargo Bank, National Association, a national banking association, as trustee. The New 7.875% Notes were priced at 101.50% of par plus accrued interest from July 15, 2013. In connection with the New 7.875% Notes offering the Company recorded $5.1 of fees during Fiscal 2013. These fees were classified as “Other assets” in the accompanying Consolidated Balance Sheets as of September 30, 2013, and are being amortized to interest expense utilizing the effective interest method over the term of the New 7.875% Notes. | |||||||||||||||
In January 2014, the Company issued $200.0 aggregate principal amount of 7.75% senior unsecured notes due 2022. The 7.75% Notes were priced at 100% of par plus accrued interest from January 21, 2014. Interest on the 7.75% Notes is payable semi-annually, in January and July. In connection with the 7.75% Notes offering, the Company recorded $5.6 of fees during Fiscal 2014. These fees were classified as "Other assets" in the accompanying Consolidated Balance Sheets as of September 30, 2014, and are being amortized to interest expense utilizing the effective interest method over the term of the 7.75% Notes. | |||||||||||||||
In May 2014, HGI exchanged $320.6 of its outstanding Senior Secured Notes for $350.0 aggregate principal amount of Additional 7.75% Notes. On May 30, 2014, participating holders received $1,091.7 principal amount of Additional 7.75% Notes for each $1,000 principal amount of Senior Secured Notes. As part of the exchange the Company also received modifications to the indenture governing the Senior Secured Notes, increasing the Company’s ability to make certain restricted payments, such as repurchases of the Company's common stock. Following settlement, HGI had $604.4 in aggregate principal amount of the Senior Secured Notes outstanding and $550.0 in aggregate principal amount of 7.75% Notes due 2022 outstanding. | |||||||||||||||
In September 2014, the Company issued $200.0 aggregate principal amount of 7.75% senior unsecured notes due 2022. The September 2014 Notes were priced at 100% of par plus accrued interest from July 15, 2014. Interest on the 7.75% Notes is payable semi-annually, in January and July. In connection with the September 2014 Notes offering, the Company recorded $3.7 of fees during Fiscal 2014. These fees were classified as "Other assets" in the accompanying Consolidated Balance Sheets as of September 30, 2014, and are being amortized to interest expense utilizing the effective interest method over the term of the September 2014 Notes. The September 2014 Notes were incremental to, and will vote together with the $550.0 aggregate principal amount of the 7.75% Notes. The terms are the same as those of the 7.75% Notes except that the September 2014 Notes were subject to a separate registration rights agreement and were issued initially under a CUSIP number that is different from that of the existing notes. | |||||||||||||||
The Company has the option to redeem the 7.75% Notes prior to January 15, 2017 at a redemption price equal to 100% of the principal amount plus a make-whole premium and accrued and unpaid interest, if any, to the date of redemption. At any time on or after January 15, 2017, the Company may redeem some or all of the 7.75% Notes at certain fixed redemption prices expressed as percentages of the principal amount, plus accrued and unpaid interest. At any time prior to January 15, 2017, the Company may redeem up to 35% of the original aggregate principal amount of the 7.75% Notes with net cash proceeds received by us from certain equity offerings at a price equal to 107.75% of the principal amount of the 7.75% Notes redeemed, plus accrued and unpaid interest, if any, to the date of redemption, provided that redemption occurs within 90 days of the closing date of such equity offering, and at least 65% of the aggregate principal amount of the 7.75% Notes remains outstanding immediately thereafter. | |||||||||||||||
Spectrum Brands | |||||||||||||||
Term Loan | |||||||||||||||
In December 2012, Spectrum Brands entered into a senior term loan facility, which matures on December 17, 2019, and provides for borrowings in an aggregate principal amount of $800.0, with $100.0 in Canadian dollar equivalents (the "HHI Term Loan") in connection with the acquisition of the HHI Business from Stanley Black & Decker. A portion of the HHI Term Loan proceeds was used to refinance the former term loan facility, which was scheduled to mature on June 17, 2016, and had an aggregate amount outstanding of $370.2 prior to refinancing. In connection with the refinancing, Spectrum Brands recorded accelerated amortization of portions of the unamortized discount and unamortized debt issuance costs related to the former term loan facility totaling $5.5 as an adjustment to interest expense during Fiscal 2013. | |||||||||||||||
On September 4, 2013, Spectrum Brands amended the senior term loan facility, issuing a tranche maturing September 4, 2017, which provides for borrowings in an aggregate principal amount of $850.0, and a tranche maturing September 4, 2019, which provides borrowings in an aggregate principal amount of $300.0, (together with the HHI Term Loan, the "Term Loan"). The proceeds from the amendment were used to extinguish the former 9.5% Notes, which were scheduled to mature on June 15, 2018, and for general corporate purposes. The 9.5% Notes had an outstanding amount of $950.0 prior to extinguishment. | |||||||||||||||
In December 2013, Spectrum Brands amended the Term Loan, issuing two tranches maturing September 4, 2019 which provide for borrowings in aggregate principal amounts of $215.0 and €225.0 (the "Euro Term Loan Debt"). The proceeds from the amendment were used to refinance a portion of the Term Loan (formerly Tranche B) which was scheduled to mature December 17, 2019 and had an aggregate amount outstanding of $513.3 prior to refinancing. The $215.0 additional U.S. dollar denominated portion was combined with the existing Tranche C maturing September 4, 2019. Spectrum Brands recorded accelerated amortization of portions of the unamortized discount and unamortized debt issuance costs related to the refinancing of the Term Loan totaling $9.2 as an adjustment to interest expense during Fiscal 2014. | |||||||||||||||
The additional Tranche C and Euro Term Loan debt were issued at a 0.125% discount and recorded net of the discount incurred. Of this discount, $0.5 is reflected as an adjustment to the carrying value of principal, and is being amortized with a corresponding charge to interest expense over the remaining life of the debt, and the remainder of $0.1 is reflected as an increase to interest expense during Fiscal 2014. In connection with the refinancing of a portion of the Term Loan, Spectrum Brands recorded $7.2 of fees during Fiscal 2014, of which $5.2 is classified as debt issuance costs within the accompanying Consolidated Balance Sheets and is being amortized as an adjustment to interest expense over the remaining life of the Term Loan, with the remainder of $2.1 reflected as an increase to interest expense during Fiscal 2014. | |||||||||||||||
The Term Loan contains financial covenants with respect to debt, including, but not limited to, a fixed charge ratio. In addition, the Term Loan contains customary restrictive covenants, including, but not limited to, restrictions on Spectrum Brands’ ability to incur additional indebtedness, create liens, make investments or specified payments, give guarantees, pay dividends, make capital expenditures and merge or acquire or sell assets. Pursuant to a guarantee and collateral agreement, Spectrum Brands, its domestic subsidiaries and its Canadian subsidiaries have guaranteed their respective obligations under the Term Loan and related loan documents and have pledged substantially all of their respective assets to secure such obligations. The Term Loan also provides for customary events of default, including payment defaults and cross-defaults on other material indebtedness. | |||||||||||||||
The HHI Term Loan was issued at a 1.0% discount and recorded net of the $8.0 discount incurred. The discount is reflected as an adjustment to the carrying value of principal, and is being amortized with a corresponding charge to interest expense over the remaining life of the debt. In connection with the issuance of the HHI Term Loan, Spectrum Brands recorded $19.3 of fees during Fiscal 2013, of which $16.9, were classified as Debt issuance costs within “Other assets” in the accompanying Consolidated Balance Sheets and is being amortized as an adjustment to interest expense over the remaining life of the HHI Term Loan with the remainder of $2.4 reflected as an increase to interest expense during Fiscal 2013. | |||||||||||||||
The tranches related to the amendment of the Term Loan were issued at a 0.5% discount and recorded net of the $5.8 discount incurred. The discount is reflected as an adjustment to the carrying value of principal, and is being amortized with a corresponding charge to interest expense over the remaining life of the debt. In connection with the amendment of the Term Loan, Spectrum Brands recorded $16.4 of fees during Fiscal 2013 which were classified as Debt issuance costs within “Other assets” in the accompanying Consolidated Balance Sheets and is being amortized as an adjustment to interest expense over the remaining life of the Term Loan. | |||||||||||||||
6.75% Notes | |||||||||||||||
In March 2012, Spectrum Brands issued $300.0 aggregate principal amount of its 6.75% Senior Notes due 2020 (the “6.75% Notes”) at par. The 6.75% Notes are unsecured and guaranteed by Spectrum Brands’ parent company, SB/RH Holdings, LLC, as well as by existing and future domestic restricted subsidiaries of Spectrum Brands. | |||||||||||||||
Spectrum Brands may redeem all or part of the 6.75% Notes, upon not less than 30 or more than 60 days notice, at specified redemption prices. Further, the indenture governing the 6.75% Notes (the “2020 Indenture”) requires Spectrum Brands to make an offer, in cash, to repurchase all or a portion of the applicable outstanding notes for a specified redemption price, including a redemption premium, upon the occurrence of a change of control of Spectrum Brands, as defined in such indenture. | |||||||||||||||
In addition, the 2020 Indenture contains customary covenants that limit, among other things, the incurrence of additional indebtedness, payment of dividends on or redemption or repurchase of equity interests, the making of certain investments, expansion into unrelated businesses, creation of liens on assets, merger or consolidation with another company, transfer or sale of all or substantially all assets, and transactions with affiliates. | |||||||||||||||
In addition, the 2020 Indenture provides for customary events of default, including failure to make required payments, failure to comply with certain agreements or covenants, failure to make payments when due or on acceleration of certain other indebtedness, and certain events of bankruptcy and insolvency. Events of default under the 2020 Indenture arising from certain events of bankruptcy or insolvency will automatically cause the acceleration of the amounts due under the 6.75% Notes. If any other event of default under the 2020 Indenture occurs and is continuing, the trustee for the 2020 Indenture or the registered holders of at least 25% in the then aggregate outstanding principal amount of the 6.75% Notes may declare the acceleration of the amounts due under those notes. | |||||||||||||||
Spectrum Brands recorded $6.3 of fees in connection with the offering of the 6.75% Notes during Fiscal 2012. The fees are classified as Debt issuance costs within the accompanying Consolidated Statements of Financial Position and are amortized as an adjustment to interest expense over the remaining life of the 6.75% Notes. | |||||||||||||||
6.375% Notes and 6.625% Notes | |||||||||||||||
In December 2012, in connection with the Hardware Acquisition, Spectrum Brands assumed $520.0 aggregate principal amount of the 6.375% Notes, and $570.0 aggregate principal amount of the 6.625% Notes, previously issued by Spectrum Brands Escrow Corporation. The 6.375% Notes and the 6.625% Notes are unsecured and guaranteed by Spectrum Brands’ parent company, SB/RH Holdings, LLC, as well as by existing and future domestic restricted subsidiaries. | |||||||||||||||
Spectrum Brands may redeem all or part of the 6.375% Notes and the 6.625% Notes, upon not less than 30 or more than 60 days notice, at specified redemption prices. Further, the indenture governing the 6.375% Notes and the 6.625% Notes (together, the “2020/22 Indenture”), requires Spectrum Brands to make an offer, in cash, to repurchase all or a portion of the applicable outstanding 6.375% Notes and 6.625% Notes for a specified redemption price, including a redemption premium, upon the occurrence of a change of control of Spectrum Brands, as defined in such indenture. | |||||||||||||||
The 2020/22 Indenture contains customary covenants that limit, among other things, the incurrence of additional indebtedness, payment of dividends on or redemption or repurchase of equity interests, the making of certain investments, expansion into unrelated businesses, creation of liens on assets, merger or consolidation with another company, transfer or sale of all or substantially all assets, and transactions with affiliates. | |||||||||||||||
In addition, the 2020/22 Indenture provides for customary events of default, including failure to make required payments, failure to comply with certain agreements or covenants, failure to make payments when due or on acceleration of certain other indebtedness, and certain events of bankruptcy and insolvency. Events of default under the 2020/22 Indenture arising from certain events of bankruptcy or insolvency will automatically cause the acceleration of the amounts due under the 6.375% Notes and the 6.625% Notes. If any other event of default under the 2020/22 Indenture occurs and is continuing, the trustee for the 2020/22 Indenture or the registered holders of at least 25% in the then aggregate outstanding principal amount of the 6.375% Notes, or the 6.625% Notes, may declare the acceleration of the amounts due under those notes. | |||||||||||||||
Spectrum Brands recorded $12.9 of fees in connection with the offering of the 6.375% Notes during Fiscal 2014 and $14.1 of fees in connection with the offering of the 6.625% Notes during Fiscal 2013. The fees were classified as “Other assets” in the accompanying Consolidated Balance Sheets and are being amortized as an adjustment to interest expense over the respective remaining lives of the 6.375% Notes and the 6.625% Notes. | |||||||||||||||
ABL Facility | |||||||||||||||
In December 2012, Spectrum Brands exercised its option to increase its asset based lending revolving credit facility (the “ABL Facility”) from $300.0 to $400.0 and extend the maturity to May 24, 2017. In connection with the increase and extension, Spectrum Brands incurred $0.3 of fees during Fiscal 2013. The fees were classified as “Other assets” in the accompanying Consolidated Balance Sheets and are being amortized as an adjustment to interest expense over the remaining life of the ABL Facility. | |||||||||||||||
In March 2013, Spectrum Brands amended its ABL Facility to conform certain provisions to reflect the acquisition of the HHI Business. In connection with the amendment, Spectrum Brands incurred $0.2 of fees during Fiscal 2013. The fees were classified as “Other assets” in the accompanying Consolidated Balance Sheets and are being amortized as an adjustment to interest expense over the remaining life of the ABL Facility. | |||||||||||||||
In connection with the December 2013 amendment of the Term Loan, Spectrum Brands amended its asset based lending revolving credit facility to obtain certain consents to the amendment of the senior credit agreement. In connection with the amendment, Spectrum Brands incurred fees and expenses that were included in the amounts recorded above related to the amendment of the Term Loan. | |||||||||||||||
As a result of borrowings and payments under the ABL Facility, at September 30, 2014, Spectrum Brands had aggregate borrowing availability of approximately $266.9, net of lender reserves of $6.4 and outstanding letters of credit of $51.0. | |||||||||||||||
FGL | |||||||||||||||
In March 2013, FGH issued $300.0 aggregate principal amount of 6.375% senior notes due April 1, 2021, at par (the “FGL Senior Notes”). Interest is payable semi-annually on April 1 and October 1 of each year, commencing on October 1, 2013. FGL used a portion of the net proceeds from the issuance to pay a $73.0 dividend to HGI. | |||||||||||||||
In connection with the offering, FGL capitalized $10.2 of debt issuance costs during Fiscal 2013. The fees were classified as “Other assets” in the accompanying Consolidated Balance Sheets and are being amortized to the redemption date using the straight-line method over the remaining term of the debt. | |||||||||||||||
The indenture governing the FGL Senior Notes contains a number of covenants that, among other things, limit or restrict FGH’s ability and the ability of FGH’s restricted subsidiaries to incur debt, incur liens, make certain asset dispositions or dispositions of subsidiary stock, enter into transactions with affiliates, enter into mergers, consolidations or transfers of all or substantially all assets, declare or pay dividends, redeem stock or prepay certain indebtedness, make investments or enter into restrictive agreements. The indenture governing the FGL Senior Notes also contains certain affirmative covenants, including financial and other reporting requirements. Most of these covenants will cease to apply for so long as the FGL Senior Notes have investment grade ratings from both Moody’s and S&P. FGH is in compliance with all such covenants. | |||||||||||||||
In August 2014, FGH, as borrower, and FGL as guarantor, entered into a three-year $150.0 unsecured revolving credit facility (the “FGL Credit Agreement”) with certain lenders and RBC Capital Markets, LLC and Credit Suisse Securities (USA) LLC, acting as joint lead arrangers. The loan proceeds from the credit facility may be used for working capital and general corporate purposes. As of September 30, 2014, FGL had not drawn on the revolver. | |||||||||||||||
The FGL Credit Agreement contains a number of covenants that, among other things, limit or restrict the ability of FGH and its subsidiaries to incur debt and issue certain capital stock, incur liens, make certain asset dispositions or dispositions of subsidiary stock, enter into transactions with affiliates, change the nature of its business, enter into mergers, consolidations or transfers of all or substantially all assets, declare or pay dividends, redeem stock or prepay certain indebtedness (including the FGL Senior Notes), make investments, modify certain agreements, enter into restrictive agreements or change its accounting policies. The FGL Credit Agreement also contains certain affirmative covenants, including financial and other reporting requirements. In addition, under the FGL Credit Agreement, FGH is required to comply with the following financial maintenance covenants at the end of each fiscal quarter: (1) FGH’s total shareholders’ equity (as defined in the FGL Credit Agreement) shall not be less than the sum of (a) $910.0, (b) 50% of FGH’s consolidated net income (as defined in the FGL Credit Agreement) since the closing date and (c) 50% of all equity issuances of FGL since the closing date and (2) FGH’s debt to total capitalization (as defined in the FGL Credit Agreement) shall not be more than 35%. FGH is in compliance with all such covenants. | |||||||||||||||
Compass Credit Agreement | |||||||||||||||
In connection with its formation, Compass entered into the Compass Credit Agreement which had an initial borrowing base of $400.0. Borrowings under Compass Credit Agreement are collateralized by first lien mortgages providing a security interest of not less than 80% of the Engineered Value (as defined in the agreement) of the oil and natural gas properties evaluated by the lenders for purposes of establishing the borrowing base. As of September 30, 2014, $327.0 was drawn under this agreement and HGI’s proportionate share of the obligation was $243.2. The interest rate grid ranges from London Interbank Offered Rate (“LIBOR”) plus 175 Basis Points (“bps”) to 275 bps (or Alternate Base Rate (“ABR”) plus 75 bps to 175 bps), depending on the percentages of drawn balances to the borrowing base as defined in the agreement. The borrowing base is redetermined semi-annually, with Compass and the lenders having the right to request interim unscheduled redeterminations in certain circumstances. In October 2014, the borrowing base of $400.0 was reaffirmed as a result of the semi-annual redetermination. The Compass Credit Agreement matures on February 14, 2018. | |||||||||||||||
Pursuant to the agreement, within 60 days of formation of Compass, the partnership was required to enter into derivative financial instruments covering not less than 75% of its forecasted proved producing natural gas production for 2013 and 50% of such forecasted production for 2014. Compass is permitted to have derivative financial instruments covering no more than 100% of the forecasted production from proved developed producing reserves (as defined in the agreement) for any month during the first two years of the forthcoming five year period, 90% of the forecasted production from proved developed producing reserves for any month during the third year of the forthcoming five year period and 85% of the forecasted production from proved developed producing reserves for any month during the fourth and fifth year of the forthcoming five year period. | |||||||||||||||
The Compass Credit Agreement sets forth the term and conditions under which Compass is permitted to pay a cash distribution to the holders of equity interests and provides that Compass may declare and pay a cash distribution to the extent of available cash, as defined in the Compass Credit Agreement, so long as, in each case, on the date of and after giving effect to such distributions, (i) no default exists, (ii) borrowing base usage, as defined in the Compass Credit Agreement, is not greater than 90%, and (iii) Compass is in compliance with the financial covenants. | |||||||||||||||
The financial covenants contained in the Compass Credit Agreement require that Compass: | |||||||||||||||
• | maintain a consolidated current ratio (as defined in the agreement) of at least 1.0 to 1.0 as of the end of any fiscal quarter; and | ||||||||||||||
• | not permit Compass’ ratio of consolidated funded indebtedness (as defined in the agreement) to consolidated EBITDAX (as defined in the agreement) to be greater than 4.5 to 1.0 at the end of any fiscal quarter. | ||||||||||||||
As of September 30, 2014, Compass was in compliance with these covenants. | |||||||||||||||
Salus | |||||||||||||||
Long-term debt of the consolidated VIE include the unaffiliated obligations of a CLO VIE of $193.0, as of September 30, 2014. In February 2013 and September 2013, Salus completed a CLO securitizations of collateralized loan obligations of up to $550.0 notional aggregate principal amount (of which $484.0 notional aggregate principal amount was drawn on September 30, 2014.)The CLO was funded with $331.1 of the asset-based loan receivables that it had originated through that date, of which $182.9 was taken up by unaffiliated entities. The obligations of the securitization is secured by the assets of the VIE, primarily asset-based loan receivables, and carry a variable interest rate ranging from LIBOR plus 2.25% to LIBOR plus 11.50%. See Note 7, Securitizations and Variable Interest Entities, for additional information with respect to the securitization. | |||||||||||||||
Salus also acts as co-lender under some of the asset-based loans that it originates, and such loans are structured to meet the definition of a "participating interest" as defined under ASC 860-10, Transfers and Servicing. For loans originated with co-lenders that have terms that result in such a co-lender not having a qualifying "participating interest", Salus recognizes the whole, undivided loan. Salus also reflects a secured borrowing owing to the co-lender representing their share in the undivided whole loan. As of September 30, 2014, Salus had $106.8 of such secured borrowings to co-lenders outstanding related to non-qualifying "participating interests". |
Temporary_Equity
Temporary Equity | 12 Months Ended |
Sep. 30, 2014 | |
Temporary Equity [Abstract] | ' |
Temporary Equity | ' |
Temporary Equity | |
Series A and A-2 Preferred Stock | |
On May 13, 2011 and August 5, 2011, the Company issued 280 thousand shares of Series A Preferred Stock and 120 thousand shares of Series A-2 Preferred Stock, respectively, in private placements pursuant to securities purchase agreements, for aggregate gross proceeds of $400.0. The Preferred Stock (i) was redeemable for cash (or, if a holder does not elect cash, automatically converted into common stock) on May 13, 2018, (ii) was convertible into the Company’s common stock at an initial conversion price of $6.50 per share for the Series A and $7.00 per share for the Series A-2, both subject to anti-dilution adjustments, (iii) had a liquidation preference of the greater of 150% of the purchase price or the value that would be received if it were converted into common stock, (iv) accrued a cumulative quarterly cash dividend at an annualized rate of 8% and (v) had a quarterly non-cash principal accretion at an annualized rate of 4% that would be reduced to 2% or 0% if the Company achieved specified rates of growth measured by increases in its net asset value. Effective April 1, 2012, and October 1, 2012, such accretion rate was reduced from, respectively, 4% to 2% for the remainder of Fiscal 2012, and then from 2% to 0% for the period subsequent to Fiscal 2012, as a result of achieving a specified level of growth in the Company’s net asset value as calculated in accordance with the terms of the certificates of designation governing the Preferred Stock. The Preferred Stock was entitled to vote, subject to certain regulatory limitations, and to receive cash dividends and in-kind distributions on an as-converted basis with the common stock. | |
During Fiscal 2014 and 2013, the Company received and duly executed requests to convert a total of 19 thousand and 6 thousand shares of Series A-2 Preferred Stock, respectively, resulting in the issuance of 2.9 million and 852 thousand shares, respectively of the Company’s common stock. | |
Further, as discussed in Note 1, Basis of Presentation and Nature of Operations, on May 15, 2014, the Company exercised its option to convert all but one of the 280 thousand Series A Preferred Shares, and all of the 95 thousand outstanding shares of Series A-2 Preferred Stock, into an aggregate of 59.1 million shares of common stock of the Company. The remaining Series A Preferred Share will not be entitled to receive any dividends or distributions, and remains to preserve certain governance rights as set forth in the certificate of designation. | |
Upon converting the outstanding preferred stock, the Company recognized a loss of $43.9, representing the difference between the fair value of the common stock issued on the conversion date and the aggregate recorded value of the preferred stock and the fair value of the equity conversion option as of the conversion date. |
Permanent_Equity
Permanent Equity | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Permanent Equity | ' | ||||||||||||||||||||||||
Permanent Equity | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income | |||||||||||||||||||||||||
Accumulated other comprehensive income includes foreign currency translation gains and losses on assets and liabilities of foreign subsidiaries, effects of exchange rate changes on intercompany balances of a long-term nature and transactions designated as a hedge of a net investment in a foreign subsidiary, deferred gains and losses on derivative financial instruments designated as cash flow hedges, amortization of deferred gains and losses associated with the Company's pension plans and unrealized gains and losses on debt and equity securities held as available for sale, net of shadow adjustments to intangibles. The foreign currency translation gains and losses for Fiscal 2014, 2013 and 2012 were primarily attributable to the impact of translation of the net assets of the Spectrum Brands’ European and Latin American operations, which primarily have functional currencies in Euros, Pounds Sterling, Mexican Peso and Brazilian Real. Except for gains and losses resulting from exchange rate changes on intercompany balances of a long-term nature, and prior to September 30, 2012, Spectrum Brands did not provide income taxes on currency translation adjustments, as earnings from international subsidiaries were considered to be permanently reinvested. As of the beginning of Fiscal 2012, Spectrum Brands is no longer considering current and future earnings from international subsidiaries to be permanently reinvested, except for locations where it is precluded by certain restrictions from repatriating earnings. | |||||||||||||||||||||||||
For information pertaining to the reclassification of unrealized gains and losses on derivative instruments, see Note 6, Derivative Financial Instruments. | |||||||||||||||||||||||||
For information pertaining to the reclassification of unrealized gains and losses on debt and equity securities held as available for sale, see Note 5, Investments, and Note 13, Goodwill and Intangibles, including DAC and VOBA, net, for the related shadow adjustments. | |||||||||||||||||||||||||
The cumulative amounts of the components of accumulated other comprehensive income reflected in the accompanying Consolidated Statements of Permanent Equity, as of September 30, 2014 and 2013, were as follows: | |||||||||||||||||||||||||
Unrealized | Non-credit | Other | Actuarial | Cumulative | Total | ||||||||||||||||||||
Investment | Related | Unrealized | Adjustments | Translation | |||||||||||||||||||||
Gains, net | Other-than- | Gains (Losses) | to Pension | Adjustments | |||||||||||||||||||||
temporary | — Cash Flow | Plans | |||||||||||||||||||||||
Impairments | Hedges | ||||||||||||||||||||||||
Cumulative components at September 30, 2014: | |||||||||||||||||||||||||
Gross amounts (after reclassification adjustments) | $ | 762.2 | $ | (1.0 | ) | $ | 13.1 | $ | (36.2 | ) | $ | (42.8 | ) | $ | 695.3 | ||||||||||
Intangible assets adjustments | (220.0 | ) | 0.4 | — | — | — | (219.6 | ) | |||||||||||||||||
Tax effects | (190.1 | ) | 0.2 | (3.9 | ) | 0.8 | 3.5 | (189.5 | ) | ||||||||||||||||
Noncontrolling interest | (68.5 | ) | — | (3.8 | ) | 13.6 | 16.1 | (42.6 | ) | ||||||||||||||||
$ | 283.6 | $ | (0.4 | ) | $ | 5.4 | $ | (21.8 | ) | $ | (23.2 | ) | $ | 243.6 | |||||||||||
Cumulative components at September 30, 2013: | |||||||||||||||||||||||||
Gross amounts (after reclassification adjustments) | $ | 235.7 | $ | (1.0 | ) | $ | (2.6 | ) | $ | (28.9 | ) | $ | (10.3 | ) | $ | 192.9 | |||||||||
Intangible assets adjustments | (63.2 | ) | 0.4 | — | — | — | (62.8 | ) | |||||||||||||||||
Tax effects | (61.1 | ) | 0.2 | 0.3 | (0.8 | ) | 3.5 | (57.9 | ) | ||||||||||||||||
Noncontrolling interest | — | — | 0.9 | 11.9 | 2.7 | 15.5 | |||||||||||||||||||
$ | 111.4 | $ | (0.4 | ) | $ | (1.4 | ) | $ | (17.8 | ) | $ | (4.1 | ) | $ | 87.7 | ||||||||||
Restricted Net Assets of Subsidiaries | |||||||||||||||||||||||||
HGI’s equity in restricted net assets of consolidated subsidiaries was approximately $1,941.0 as of September 30, 2014, representing 134.6% of HGI’s consolidated stockholders’ equity as of September 30, 2014 and consisted of net assets of FGL, Spectrum Brands and HGI Energy, less noncontrolling interest, which were restricted as to transfer to HGI in the form of cash dividends, loans or advances under regulatory or debt covenant restrictions. | |||||||||||||||||||||||||
Stock Repurchase Program | |||||||||||||||||||||||||
In May 2014, the Company’s Board of Directors authorized a stock repurchase program for an aggregate of up to $100.0 of common stock. The repurchase program authorizes purchases to be made from time to time in one or more open market or private transactions. The manner of purchase, the number of shares to be purchased and the timing of purchases are be based on the price of HGI’s common stock, general business and market conditions and applicable legal requirements, and is subject to the discretion of HGI’s management. The program does not require HGI to purchase any specific number of shares or any shares at all, and may be suspended, discontinued or re-instituted at any time without prior notice. | |||||||||||||||||||||||||
A summary of the stock repurchase activity under the $100.0 stock repurchase program authorized by HGI's Board of Directors earlier in Fiscal 2014 is summarized as follows (share amounts in thousands): | |||||||||||||||||||||||||
Shares repurchased | Weighted-Average Price per Share | Amount Repurchased | |||||||||||||||||||||||
Cumulative balance at September 30, 2014 | 5,197 | $ | 12.62 | $ | 65.6 | ||||||||||||||||||||
The purchase price for the shares of the Company’s stock repurchased is reflected as a reduction to shareholders’ equity. Upon repurchase, the Company retires the stock and records the excess of the cost of the treasury stock over its par value entirely to additional paid-in capital. |
Employee_Benefit_Obligations
Employee Benefit Obligations | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Employee Benefit Obligations | ' | ||||||||||||||||||||||||
Employee Benefit Obligations | |||||||||||||||||||||||||
Defined Benefit Plans | |||||||||||||||||||||||||
HGI | |||||||||||||||||||||||||
HGI has a noncontributory defined benefit pension plan (the “HGI Pension Plan”) covering certain former U.S. employees. During 2006, the HGI Pension Plan was frozen which caused all existing participants to become fully vested in their benefits. | |||||||||||||||||||||||||
Additionally, HGI has an unfunded supplemental pension plan (the “Supplemental Plan”) which provides supplemental retirement payments to certain former senior executives of HGI. The amounts of such payments equal the difference between the amounts received under the HGI Pension Plan and the amounts that would otherwise be received if HGI Pension Plan payments were not reduced as the result of the limitations upon compensation and benefits imposed by Federal law. Effective December 1994, the Supplemental Plan was frozen. | |||||||||||||||||||||||||
Spectrum Brands | |||||||||||||||||||||||||
Spectrum Brands has various defined benefit pension plans (the “Spectrum Brands Pension Plans”) covering some of its employees in the U.S. and certain employees in other countries, primarily the United Kingdom and Germany. The Spectrum Brands Pension Plans generally provide benefits of stated amounts for each year of service. Spectrum Brands funds its U.S. pension plans in accordance with the requirements of the defined benefit pension plans and, where applicable, in amounts sufficient to satisfy the minimum funding requirements of applicable laws. Additionally, in compliance with Spectrum Brands’ funding policy, annual contributions to non-U.S. defined benefit plans are equal to the actuarial recommendations or statutory requirements in the respective countries. | |||||||||||||||||||||||||
Spectrum Brands also sponsors or participates in a number of other non-U.S. pension arrangements, including various retirement and termination benefit plans, some of which are covered by local law or coordinated with government-sponsored plans, which are not significant in the aggregate and therefore are not included in the information presented below. Spectrum Brands also has various nonqualified deferred compensation agreements with certain of its employees. Under certain of these agreements, Spectrum Brands has agreed to pay certain amounts annually for the first 15 years subsequent to retirement or to a designated beneficiary upon death. It is management’s intent that life insurance contracts owned by Spectrum Brands will fund these agreements. Under the remaining agreements, Spectrum Brands has agreed to pay such deferred amounts in up to 15 annual installments beginning on a date specified by the employee, subsequent to retirement or disability, or to a designated beneficiary upon death. | |||||||||||||||||||||||||
Spectrum Brands also provides postretirement life insurance and medical benefits to certain retirees under separate contributory plans. | |||||||||||||||||||||||||
Consolidated | |||||||||||||||||||||||||
The recognition and disclosure provisions of ASC Topic 715: “Compensation-Retirement Benefits” (“ASC 715”) requires recognition of the overfunded or underfunded status of defined benefit pension and postretirement plans as an asset or liability in the consolidated balance sheet, and to recognize changes in that funded status in AOCI. | |||||||||||||||||||||||||
In accordance with the measurement date provisions of ASC 715, the Company measures all of its defined benefit pension and postretirement plan assets and obligations as of September 30, which is the Company’s fiscal year end. | |||||||||||||||||||||||||
The following tables provide additional information on the Company’s pension and other postretirement benefit plans which principally relate to Spectrum Brands: | |||||||||||||||||||||||||
Pension and Deferred | Other Benefits | ||||||||||||||||||||||||
Compensation Benefits | |||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Change in benefit obligation | |||||||||||||||||||||||||
Benefit obligation, beginning of year | $ | 274.5 | $ | 260.7 | $ | 0.4 | $ | 0.6 | |||||||||||||||||
Liabilities assumed through acquisitions | — | 14.7 | — | — | |||||||||||||||||||||
Service cost | 3.5 | 3 | — | — | |||||||||||||||||||||
Interest cost | 11.2 | 10.6 | — | — | |||||||||||||||||||||
Actuarial loss (gain) | 15.3 | 1.1 | — | (0.1 | ) | ||||||||||||||||||||
Participant contributions | — | 0.1 | — | — | |||||||||||||||||||||
Curtailments | — | (1.5 | ) | — | (0.1 | ) | |||||||||||||||||||
Benefits paid | (11.5 | ) | (17.4 | ) | — | — | |||||||||||||||||||
Foreign currency exchange rate changes | (5.9 | ) | 3.2 | — | — | ||||||||||||||||||||
Benefit obligation, end of year | $ | 287.1 | $ | 274.5 | $ | 0.4 | $ | 0.4 | |||||||||||||||||
Change in plan assets | |||||||||||||||||||||||||
Fair value of plan assets, beginning of year | $ | 190.8 | $ | 168.6 | $ | — | $ | — | |||||||||||||||||
Assets acquired through acquisitions | — | 6.7 | — | — | |||||||||||||||||||||
Actual return on plan assets | 13.8 | 18.3 | — | — | |||||||||||||||||||||
Employer contributions | 13.8 | 12.9 | — | — | |||||||||||||||||||||
Employee contributions | — | 0.1 | — | — | |||||||||||||||||||||
Benefits paid | (11.5 | ) | (17.4 | ) | — | — | |||||||||||||||||||
Foreign currency exchange rate changes | (2.4 | ) | 1.6 | — | — | ||||||||||||||||||||
Fair value of plan assets, end of year | $ | 204.5 | $ | 190.8 | $ | — | $ | — | |||||||||||||||||
Accrued Benefit Cost / Funded Status | $ | (82.6 | ) | $ | (83.7 | ) | $ | (0.4 | ) | $ | (0.4 | ) | |||||||||||||
Range of assumptions: | |||||||||||||||||||||||||
Discount rate | 2.0% to 13.5% | 1.8% to 13.0% | 4.7 | % | 4.7 | % | |||||||||||||||||||
Expected return on plan assets | 2.0% to 7.5% | 3.6% to 7.8% | N/A | N/A | |||||||||||||||||||||
Rate of compensation increase | 2.3% to 5.5% | 2.3% to 5.5% | N/A | N/A | |||||||||||||||||||||
The net underfunded status as of September 30, 2014 and 2013 of $82.6 and $83.7, respectively, is recognized in the accompanying Consolidated Balance Sheets within “Employee benefit obligations.” Included in AOCI as of September 30, 2014 and 2013 were unrecognized net losses of $21.8, net of tax benefit of $0.8 and noncontrolling interest of $13.6, and $17.8, net of tax expense of $0.8 and noncontrolling interest of $11.9, respectively, which have not yet been recognized as components of net periodic pension cost. The net loss in AOCI expected to be recognized during the fiscal year ending September 30, 2015 (“Fiscal 2015”) is $0.9. | |||||||||||||||||||||||||
At September 30, 2014, the Company’s total pension and deferred compensation benefit obligation of $287.1 consisted of $91.0 associated with U.S. plans and $196.1 associated with international plans. The fair value of the Company’s pension and deferred compensation benefit assets of $204.5 consisted of $78.0 associated with U.S. plans and $126.5 associated with international plans. The weighted average discount rate used for the Company’s domestic plans was approximately 4.2% and approximately 3.3% for its international plans. The weighted average expected return on plan assets used for the Company’s domestic plans was approximately 7.5% and approximately 4.3% for its international plans. | |||||||||||||||||||||||||
At September 30, 2013, the Company’s total pension and deferred compensation benefit obligation of $274.5 consisted of $85.2 associated with U.S. plans and $189.3 associated with international plans. The fair value of the Company’s pension and deferred compensation benefit assets of $190.8 consisted of $73.8 associated with U.S. plans and $117.0 associated with international plans. The weighted average discount rate used for the Company’s domestic plans was approximately 3.9% and approximately 3.9% for its international plans. The weighted average expected return on plan assets used for the Company’s domestic plans was approximately 7.6% and approximately 4.7% for its international plans. | |||||||||||||||||||||||||
Net periodic benefit cost for Fiscal 2014, 2013 and 2012 included the following components: | |||||||||||||||||||||||||
Pension and Deferred Compensation Benefits | Other Benefits | ||||||||||||||||||||||||
Fiscal | Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||
Components of net periodic cost: | |||||||||||||||||||||||||
Service cost | $ | 3.5 | $ | 3.4 | $ | 2.4 | $ | — | $ | — | $ | — | |||||||||||||
Interest cost | 11.2 | 10.6 | 11.4 | — | — | 0.1 | |||||||||||||||||||
Expected return on assets | (11.0 | ) | (9.7 | ) | (9.1 | ) | — | — | — | ||||||||||||||||
Amortization of prior service cost | — | — | 0.1 | — | — | — | |||||||||||||||||||
Curtailment gain | (0.1 | ) | (0.8 | ) | — | — | — | — | |||||||||||||||||
Recognized net actuarial loss(gain) | 1.5 | 2.1 | 0.9 | — | — | (0.1 | ) | ||||||||||||||||||
Net periodic cost | $ | 5.1 | $ | 5.6 | $ | 5.7 | $ | — | $ | — | $ | — | |||||||||||||
The discount rate is used to calculate the projected benefit obligation. The discount rate used is based on the rate of return on government bonds as well as current market conditions of the respective countries where the plans are established. | |||||||||||||||||||||||||
Below is a summary allocation of all pension plan assets as of the measurement date. | |||||||||||||||||||||||||
Weighted Average Allocation | |||||||||||||||||||||||||
Target | Actual | ||||||||||||||||||||||||
2014 | 2014 | 2013 | |||||||||||||||||||||||
Asset Category | |||||||||||||||||||||||||
Equity securities | 0-60% | 27 | % | 52 | % | ||||||||||||||||||||
Fixed income securities | 0-40% | 28 | % | 19 | % | ||||||||||||||||||||
Other | 0-100% | 45 | % | 29 | % | ||||||||||||||||||||
100 | % | 100 | % | 100 | % | ||||||||||||||||||||
The weighted average expected long-term rate of return on total assets is 5.5%. | |||||||||||||||||||||||||
The Company has established formal investment policies for the assets associated with these plans. Policy objectives include maximizing long-term return at acceptable risk levels, diversifying among asset classes, if appropriate, and among investment managers, as well as establishing relevant risk parameters within each asset class. Specific asset class targets are based on the results of periodic asset liability studies. The investment policies permit variances from the targets within certain parameters. The weighted average expected long-term rate of return is based on a Fiscal 2014 review of such rates. The plan assets currently do not include holdings of common stock of HGI or its subsidiaries. | |||||||||||||||||||||||||
The Company’s pension plan assets have a diversified portfolio of investments in U.S. and foreign equity and debt securities. In addition, the plan assets are invested in real estate mutual funds, life insurance contracts and private equity funds. | |||||||||||||||||||||||||
The Company’s expected future pension benefit payments for Fiscal 2015 through its fiscal year 2024 are as follows: | |||||||||||||||||||||||||
Fiscal Year | Future Benefit Payments | ||||||||||||||||||||||||
2015 | $ | 13.8 | |||||||||||||||||||||||
2016 | 12 | ||||||||||||||||||||||||
2017 | 12.2 | ||||||||||||||||||||||||
2018 | 12.7 | ||||||||||||||||||||||||
2019 | 13.7 | ||||||||||||||||||||||||
2020 to 2024 | 72.1 | ||||||||||||||||||||||||
The following tables sets forth the fair value of the Company’s pension plan assets, segregated by level within the fair value hierarchy. | |||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Defined Benefit Plan Assets: | |||||||||||||||||||||||||
Equity Securities | |||||||||||||||||||||||||
U.S. equity securities | $ | 19.9 | $ | 14.3 | $ | — | $ | 34.2 | |||||||||||||||||
Foreign equity securities | 11.1 | 9.7 | — | 20.8 | |||||||||||||||||||||
Debt Securities | |||||||||||||||||||||||||
U.S. bonds | 4 | 20.6 | — | 24.6 | |||||||||||||||||||||
Foreign bonds | 3.1 | 20.5 | — | 23.6 | |||||||||||||||||||||
Foreign government bonds | — | 8.6 | — | 8.6 | |||||||||||||||||||||
Real estate | 1.2 | 5.9 | — | 7.1 | |||||||||||||||||||||
Life insurance contracts | — | 37.7 | — | 37.7 | |||||||||||||||||||||
Other | — | 39.7 | — | 39.7 | |||||||||||||||||||||
Foreign cash & cash equivalents | 6.4 | 1.8 | — | 8.2 | |||||||||||||||||||||
Total defined benefit plan assets | $ | 45.7 | $ | 158.8 | $ | — | $ | 204.5 | |||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Defined Benefit Plan Assets: | |||||||||||||||||||||||||
Equity Securities | |||||||||||||||||||||||||
U.S. equity securities | $ | 18.5 | $ | 24.5 | $ | — | $ | 43 | |||||||||||||||||
Foreign equity securities | 10.8 | 39.1 | — | 49.9 | |||||||||||||||||||||
Debt Securities | |||||||||||||||||||||||||
U.S. bonds | 2.3 | 19.7 | — | 22 | |||||||||||||||||||||
Foreign bonds | — | 10.7 | — | 10.7 | |||||||||||||||||||||
Foreign government bonds | — | 8 | — | 8 | |||||||||||||||||||||
Real estate | 1.2 | 5.4 | — | 6.6 | |||||||||||||||||||||
Life insurance contracts | — | 37.7 | — | 37.7 | |||||||||||||||||||||
Other | — | 1 | — | 1 | |||||||||||||||||||||
Foreign cash & cash equivalents | 6.6 | 5.3 | — | 11.9 | |||||||||||||||||||||
Total defined benefit plan assets | $ | 39.4 | $ | 151.4 | $ | — | $ | 190.8 | |||||||||||||||||
Defined Contribution Plans | |||||||||||||||||||||||||
Spectrum Brands sponsors a defined contribution pension plan for its domestic salaried employees, which allows participants to make contributions by salary reduction pursuant to Section 401(k) of the Internal Revenue Code. Spectrum Brands also sponsors defined contribution pension plans for employees of certain foreign subsidiaries. FGL sponsors a defined contribution plan in which eligible participants may defer a fixed amount or a percentage of their eligible compensation, subject to limitations, and FGL makes a discretionary matching contribution of up to 5% of eligible compensation. FGL has also established a nonqualified defined contribution plan for independent agents. FGL makes contributions to the plan based on both FGL’s and the agent’s performance. Contributions are discretionary and evaluated annually. HGI also sponsors a defined contribution plan for its corporate employees in which eligible participants may defer a fixed amount or a percentage of their eligible compensation, subject to limitations. HGI makes a discretionary matching contribution of up to 5% of eligible compensation. Aggregate contributions charged to operations for the defined contribution plans, including discretionary amounts, for Fiscal 2014, 2013 and 2012 were $13.9, $12.1 and $2.8, respectively. |
Reinsurance
Reinsurance | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Reinsurance Disclosures [Abstract] | ' | |||||||||||||||||||||||
Reinsurance | ' | |||||||||||||||||||||||
Reinsurance | ||||||||||||||||||||||||
FGL reinsures portions of its policy risks with other insurance companies. The use of reinsurance does not discharge an insurer from liability on the insurance ceded. The insurer is required to pay in full the amount of its insurance liability regardless of whether it is entitled to or able to receive payment from the reinsurer. The portion of risks exceeding FGL’s retention limit is reinsured with other insurers. FGL seeks reinsurance coverage in order to limit its exposure to mortality losses and enhance capital management. FGL follows reinsurance accounting when there is adequate risk transfer. Otherwise, the deposit method of accounting is followed. | ||||||||||||||||||||||||
FGL and Front Street Cayman also assume policy risks from other insurance companies. | ||||||||||||||||||||||||
The effect of reinsurance on premiums earned, benefits incurred and reserve changes for Fiscal 2014, 2013 and 2012 were as follows: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Insurance Premiums | Benefits and Other Changes in Insurance Policy Reserves | Insurance Premiums | Benefits and Other Changes in Insurance Policy Reserves | Insurance Premiums | Benefits and Other Changes in Insurance Policy Reserves | |||||||||||||||||||
Direct | $ | 266.8 | $ | 1,103.30 | $ | 279.2 | $ | 776.5 | $ | 298 | $ | 1,033.40 | ||||||||||||
Assumed | 35.9 | 33 | 32.8 | 23.3 | 47.2 | 34.9 | ||||||||||||||||||
Ceded | (246.1 | ) | (283.6 | ) | (253.2 | ) | (268.0 | ) | (289.9 | ) | (290.9 | ) | ||||||||||||
Net | $ | 56.6 | $ | 852.7 | $ | 58.8 | $ | 531.8 | $ | 55.3 | $ | 777.4 | ||||||||||||
Amounts payable or recoverable for reinsurance on paid and unpaid claims are not subject to periodic or maximum limits. During Fiscal 2014, 2013 and 2012, FGL did not write off any reinsurance balances. During Fiscal 2014 and 2012, FGL did not commute any ceded reinsurance. Effective June 17, 2013, FGL rescinded the portion of the coinsurance agreement dated April 1, 2011 between Fidelity & Guaranty Life Insurance Company (“FGL Insurance”) and Wilton Re U.S. Holdings, Inc. (“Wilton Re”) which covers certain disability income riders. Wilton Re paid FGL Insurance a rescission settlement of $6.4 and recognized a net gain on the rescission of $1.9. | ||||||||||||||||||||||||
No policies issued by FGL have been reinsured with any foreign company, which is controlled, either directly or indirectly, by a party not primarily engaged in the business of insurance. | ||||||||||||||||||||||||
FGL has not entered into any reinsurance agreements in which the reinsurer may unilaterally cancel any reinsurance for reasons other than non-payment of premiums or other similar credit issues. | ||||||||||||||||||||||||
FGL had the following significant reinsurance agreements during Fiscal 2014, 2013 and 2012 as described below. | ||||||||||||||||||||||||
Wilton Agreement | ||||||||||||||||||||||||
In September 2012, Wilton Re and FGL Insurance reached a final agreement on the initial settlements associated with the reinsurance transactions FGL Insurance entered into subsequent to the FGH Acquisition. The final settlement amounts did not result in any material adjustments to the amounts reflected in the financial statements. FGL Insurance recognized a net pre-tax gain of $18.0 on these reinsurance transactions which has been deferred and is being amortized over the remaining life of the underlying reinsured contracts. The unamortized portion of this deferred gain was $14.3 and $12.6 as of September 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||
Commissioners Annuity Reserve Valuation Method Facility (“CARVM”) | ||||||||||||||||||||||||
Effective October 1, 2012, FGL Insurance recaptured a CARVM reinsurance agreement from Old Mutual Reassurance (Ireland) Ltd., an affiliate of OM Group (“OM Re”) and simultaneously ceded the business to Raven Reinsurance Company (“Raven Re”). The recapture of the OM Re CARVM reinsurance agreement satisfied an obligation of FGL under the First Amended and Restated Stock Purchase Agreement, dated February 17, 2011 between FGL and OM Group (UK) Limited (“OMGUK”) (the “F&G Stock Purchase Agreement”) to replace the letter of credit provided by OM no later than December 31, 2015. In connection with the new CARVM reinsurance agreement, FGL and Raven Re entered into an agreement with Nomura Bank International plc (“Nomura”) to establish a $295.0 reserve financing facility in the form of a letter of credit issued by Nomura and Nomura charged an upfront structuring fee in the amount of $2.8. The reserve financing liability is set to be reduced by $6.3 each quarter subsequent to establishment. The structuring fee was paid by FGL Insurance and will be deferred and amortized over the expected life of the facility. As this letter of credit is provided by an unaffiliated financial institution, Raven Re is permitted to carry the letter of credit as an admitted asset on the Raven Re statutory balance sheet. | ||||||||||||||||||||||||
As of September 30, 2014, there was $251.3 available under the letter of credit facility. The Nomura Facility will terminate on September 30, 2017, although the facility may terminate earlier, in accordance with the terms of the reimbursement agreement entered into by Raven Re to collateralize its obligations with Nomura Bank International plc (“NBI”), an affiliate of Nomura Securities International, Inc., and FGL (the “Reimbursement Agreement”). Under the terms of the Reimbursement Agreement, in the event the letter of credit is drawn upon, Raven Re is required to repay the amounts utilized, and FGH is obligated to repay the amounts utilized if Raven Re fails to make the required reimbursement. FGH also is required to make capital contributions to Raven Re in the event that Raven Re’s statutory capital and surplus falls below certain defined levels. As of September 30, 2014, Raven Re’s statutory capital and surplus was $3.5 in excess of the minimum level required under the Reimbursement Agreement. | ||||||||||||||||||||||||
Front Street | ||||||||||||||||||||||||
On December 31, 2012, FGL entered into a reinsurance agreement (the “Reinsurance Agreement”) with Front Street Cayman, also an indirect subsidiary of the Company. Pursuant to the Reinsurance Agreement, Front Street Cayman has reinsured approximately 10%, or approximately $1,400.0 of FGL’s policy liabilities, on a funds withheld basis. In connection with the Reinsurance Agreement, Front Street Cayman, FGL and an indirect subsidiary of the Company, Five Island, entered into an investment management agreement, pursuant to which Five Island manages a portion of the assets securing Front Street Cayman’s reinsurance obligations under the Reinsurance Agreement, which assets are held by FGL in a segregated account. The assets in the segregated account are invested in accordance with FGL’s investment guidelines. | ||||||||||||||||||||||||
On December 16, 2013, Front Street Cayman, closed a reinsurance treaty with Bankers Life Insurance Company. Under the terms of the treaty, Bankers Life Insurance Company ceded approximately $153.0 of its annuity business to Front Street Cayman, on a funds withheld basis. The agreement, which has been approved by the State of Florida Office of Insurance Regulation, is retroactive to November 30, 2013. Front Street Cayman will manage the assets supporting reserves in accordance with the internal investment policy of Bankers Life Insurance Company and applicable law. |
Stock_Compensation
Stock Compensation | 12 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||||||||||||||
Stock Compensation | ' | |||||||||||||||||||||||||||||
Stock Compensation | ||||||||||||||||||||||||||||||
The Company recognized consolidated stock compensation expense of $91.1, $61.5 and $31.2 during Fiscal 2014, 2013 and 2012, respectively. Stock compensation expense is principally included in “Selling, acquisition, operating and general expenses” in the accompanying Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||
A summary of stock options outstanding as of September 30, 2014 and related activity during the year then ended, under FGH, and FGL’s respective incentive plans are as follows (share amounts in thousands): | ||||||||||||||||||||||||||||||
HGI | FGH | FGL | ||||||||||||||||||||||||||||
Stock Option Awards | Options | Weighted Average Exercise Price | Weighted | Options | Weighted Average Exercise Price | Options | Weighted Average Exercise Price | Weighted | ||||||||||||||||||||||
Average Grant | Average Grant | |||||||||||||||||||||||||||||
Date Fair Value | Date Fair Value | |||||||||||||||||||||||||||||
Stock options outstanding at September 30, 2013 | 3,954 | $ | 6.52 | $ | 2.55 | 335 | $ | 44.23 | — | $ | — | $ | — | |||||||||||||||||
Granted | 1,356 | 11.75 | 4.91 | — | — | 249 | 17 | 3.76 | ||||||||||||||||||||||
Exercised | (526 | ) | 5.27 | 1.92 | (105 | ) | 39.86 | — | — | — | ||||||||||||||||||||
Forfeited or expired | (160 | ) | 8.14 | 3.27 | (5 | ) | 47.3 | (7 | ) | 17 | 5.26 | |||||||||||||||||||
Stock options outstanding at September 30, 2014 | 4,624 | 8.14 | 3.28 | 225 | 46.19 | 242 | 17 | 3.72 | ||||||||||||||||||||||
Stock options vested and exercisable at September 30, 2014 | 1,448 | 7.45 | 2.96 | 99 | 46.68 | — | — | — | ||||||||||||||||||||||
Stock options outstanding and expected to vest | 3,176 | 8.46 | 3.43 | 122 | 46.15 | 231 | — | 3.64 | ||||||||||||||||||||||
A summary of restricted stock, restricted stock units and Performance Restricted Stock Units ("PRSUs") outstanding as of September 30, 2014 and related activity during the year then ended, under HGI, Spectrum Brands, FGH and FGL’s respective incentive plans are as follows (share amounts in thousands): | ||||||||||||||||||||||||||||||
HGI | FGL | |||||||||||||||||||||||||||||
Restricted Stock Awards | Shares | Weighted | Shares | Weighted | ||||||||||||||||||||||||||
Average Grant | Average Grant | |||||||||||||||||||||||||||||
Date Fair Value | Date Fair Value | |||||||||||||||||||||||||||||
Restricted stock outstanding at September 30, 2013 | 3,456 | $ | 7.72 | — | $ | — | ||||||||||||||||||||||||
Granted | 3,325 | 12 | 179 | 18.25 | ||||||||||||||||||||||||||
Exercised / Released | (1,154 | ) | 10.18 | — | — | |||||||||||||||||||||||||
Forfeited | (197 | ) | 9.57 | (7 | ) | 19.98 | ||||||||||||||||||||||||
Restricted stock outstanding at September 30, 2014 | 5,430 | 9.76 | 172 | 18.18 | ||||||||||||||||||||||||||
Restricted stock outstanding and expected to vest | 5,418 | 9.75 | 159 | 18.03 | ||||||||||||||||||||||||||
HGI | Spectrum Brands | FGH | ||||||||||||||||||||||||||||
Restricted Stock Units | Units | Weighted | Units | Weighted | Units | Weighted | ||||||||||||||||||||||||
Average Grant | Average Grant | Average Grant | ||||||||||||||||||||||||||||
Date Fair Value | Date Fair Value | Date Fair Value | ||||||||||||||||||||||||||||
Restricted stock units outstanding at September 30, 2013 | 22 | $ | 4.61 | 1,118 | $ | 39.11 | 46 | $ | 49.6 | |||||||||||||||||||||
Granted | 7 | 11.84 | 669 | 75.5 | — | — | ||||||||||||||||||||||||
Exercised / Released | (22 | ) | 4.61 | (954 | ) | 39.69 | (18 | ) | 49.53 | |||||||||||||||||||||
Forfeited | — | — | (6 | ) | 69.33 | (2 | ) | 49.45 | ||||||||||||||||||||||
Restricted stock units outstanding at September 30, 2014 | 7 | 11.84 | 827 | 67.66 | 26 | 49.55 | ||||||||||||||||||||||||
Restricted stock units vested and exercisable at September 30, 2014 | — | — | — | — | — | |||||||||||||||||||||||||
Restricted stock units outstanding and expected to vest | 7 | 11.84 | 827 | 67.66 | 25 | 49.55 | ||||||||||||||||||||||||
FGL | ||||||||||||||||||||||||||||||
Performance Restricted Stock Units | Units | Weighted | ||||||||||||||||||||||||||||
Average Grant | ||||||||||||||||||||||||||||||
Date Fair Value | ||||||||||||||||||||||||||||||
Performance restricted stock units outstanding at September 30, 2013 | — | $ | — | |||||||||||||||||||||||||||
Granted | 578 | 17.37 | ||||||||||||||||||||||||||||
Performance restricted stock units outstanding at September 30, 2014 | 578 | 17.37 | ||||||||||||||||||||||||||||
Performance restricted stock units expected to vest | 578 | 17.37 | ||||||||||||||||||||||||||||
A summary of warrants outstanding as of September 30, 2014 and related activity during the year then ended, under HGI's incentive plan are as follows (share amounts in thousands): | ||||||||||||||||||||||||||||||
HGI | ||||||||||||||||||||||||||||||
Warrants | Units | Weighted Average Exercise Price | Weighted | |||||||||||||||||||||||||||
Average Grant | ||||||||||||||||||||||||||||||
Date Fair Value | ||||||||||||||||||||||||||||||
Warrants outstanding at September 30, 2013 | — | $ | — | $ | — | |||||||||||||||||||||||||
Granted | 3,000 | 13.13 | 3.22 | |||||||||||||||||||||||||||
Warrants outstanding at September 30, 2014 | 3,000 | 13.13 | 3.22 | |||||||||||||||||||||||||||
Warrants vested and exercisable at September 30, 2014 | 600 | 13.13 | 3.22 | |||||||||||||||||||||||||||
Warrants outstanding and expected to vest | 2,400 | 13.13 | 3.22 | |||||||||||||||||||||||||||
HGI | ||||||||||||||||||||||||||||||
On September 15, 2011, the Company’s stockholders approved the 2011 Omnibus Award Plan (the “2011 HGI Plan”). The 2011 HGI Plan provides for the issuance of stock options or stock appreciation rights (“SARs”) for up to 17 million shares of common stock. Such authorization was increased by 7 million shares upon the approval of an amendment to the 2011 Plan by our shareholders at the annual meeting held on May 30, 2015. Further, at that meeting, our shareholders approved the adoption of the 2014 Warrant Award Plan, authorizing the issuance of 3 million warrants on HGI common stock to our Chief Executive Officer, Mr. Philip Falcone. The 2011 HGI Plan, as amended, prohibits granting stock options with exercise prices and SARs with grant prices lower than the fair market value of the common stock on the date of grant, except in connection with the issuance or assumption of awards in connection with certain mergers, consolidations, acquisitions of property or stock or reorganizations. As of September 30, 2014, 11,557 thousand shares are available for issuance under the 2011 HGI Plan. | ||||||||||||||||||||||||||||||
During Fiscal 2014, HGI granted stock option awards, restricted stock awards and restricted stock units representing approximately 1,356 thousand, 3,325 thousand and 7 thousand shares, respectively. All of these grants are time based, and vest over a period of up to 3 years. The total fair value of the stock grants during Fiscal 2014 on their respective grant dates was approximately $46.7. During Fiscal 2014, stock option awards, restricted stock awards and restricted stock units with a total fair value of $15.2 vested. The total intrinsic value of share options exercised during Fiscal 2014 was $3.6, for which HGI received cash of $2.8 in settlement. | ||||||||||||||||||||||||||||||
In March 2014, the Company awarded warrants to our Chief Executive Officer, Philip Falcone, representing the right to purchase approximately 3 million shares of our common stock, at an exercise price of $13.13 per share. The warrants awarded to our Chief Executive Officer were granted following receipt of approval from our stockholders in May 2014. A portion of the warrants, representing 600 thousand shares, vested immediately upon approval of the grant, and the remainder would vest over a period of 4 years. The estimated grant date fair value of this award was $9.6. | ||||||||||||||||||||||||||||||
During Fiscal 2013, HGI granted stock option awards, restricted stock awards and restricted stock units representing approximately 1,734 thousand, 3,319 thousand and 9 thousand shares, respectively. All of these grants are time based, and vest over periods of 1 month up to 4 years. The total fair value of the stock grants during Fiscal 2013 on their respective grant dates was approximately $34.6. During Fiscal 2013, stock option awards, restricted stock awards and restricted stock units with a total fair value of $7.5 vested. The total intrinsic value of share options exercised during Fiscal 2013 was $0.1, for which HGI received cash of $0.2 in settlement. | ||||||||||||||||||||||||||||||
During Fiscal 2012, HGI granted stock option awards, restricted stock awards and restricted stock units representing approximately 2,275 thousand, 838 thousand and 22 thousand shares, respectively. All of these grants are time based, and vest over periods of 4 months up to 4 years. The total fair value of the stock grants on their respective grant dates was approximately$8.2. | ||||||||||||||||||||||||||||||
Under HGI’s executive bonus plan, executives will be paid in cash, stock options and restricted stock shares. Based on Fiscal 2014 performance measures, the Company expects to grant approximately 2,500 thousand restricted shares and 1,100 thousand stock options in the first quarter of Fiscal 2015 with a portion vesting immediately and the remaining shares vesting between 12 and 36 months from the grant date. The Company expects to recognize approximately $35.0 of deferred bonus compensation expense with respect to cash and stock-based awards as it vests over the next three fiscal years, subject to clawback provisions if the subsequent increase in net asset value for bonus compensation purposes does not exceed specified threshold returns. As of September 30, 2014, there was approximately $25.6 of total unrecognized compensation cost related to unvested share-based compensation agreements previously granted, which is expected to be recognized over a weighted-average period of 1.70 years. | ||||||||||||||||||||||||||||||
The fair values of restricted stock and restricted stock unit awards are determined based on the market price of HGI’s common stock on the grant date. The fair value of stock option awards is determined using the Black-Scholes option pricing model. The following assumptions were used in the determination of these grant date fair values using the Black-Scholes option pricing model: | ||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Risk-free interest rate | 1.37% to 1.70% | 0.84% to 1.86% | 0.97% to 1.19% | |||||||||||||||||||||||||||
Assumed dividend yield | —% | —% | —% | |||||||||||||||||||||||||||
Expected option term | 5.0 to 5.9 years | 5.3 to 6.2 years | 6 years | |||||||||||||||||||||||||||
Volatility | 37.8% to 39.8% | 41.9% to 44.0% | 33.0% to 35.5% | |||||||||||||||||||||||||||
The weighted-average remaining contractual term of outstanding stock option awards at September 30, 2014, was 8.19 years. | ||||||||||||||||||||||||||||||
Spectrum Brands | ||||||||||||||||||||||||||||||
In September 2009, Spectrum Brands’ board of directors adopted the 2009 Spectrum Brands Inc. Incentive Plan (the “2009 Plan”). In conjunction with the combination of Spectrum Brands, Inc. and Russell Hobbs (the “SB/RH Merger”), the 2009 Plan was assumed by Spectrum Brands. Prior to October 21, 2010, up to 3,333 thousand shares of common stock, net of forfeitures and cancellations, could have been issued under the 2009 Plan. | ||||||||||||||||||||||||||||||
In conjunction with the SB/RH Merger, Spectrum Brands adopted the Spectrum Brands Holdings, Inc. 2007 Omnibus Equity Award Plan (formerly known as the Russell Hobbs Inc. 2007 Omnibus Equity Award Plan, as amended on June 24, 2008) (the “2007 RH Plan”). Prior to October 21, 2010, up to 600 thousand shares of common stock, net of forfeitures and cancellations, could have been issued under the RH Plan. | ||||||||||||||||||||||||||||||
On October 21, 2010, Spectrum Brands’ board of directors adopted the Spectrum Brands Holdings, Inc. 2011 Omnibus Equity Award Plan (the “2011 Plan”), which was approved by Spectrum Brands’ stockholders on March 1, 2011. During Fiscal 2014, the 2011 Plan was amended to increase the shares issuable by 1,000 thousand. Including the amendment to the 2011 Plan, up to 5,626 thousand shares of common stock of Spectrum Brands, net of cancellations, may be issued under the 2011 Plan. | ||||||||||||||||||||||||||||||
Spectrum Brands granted restricted stock units representing approximately 669 thousand shares during Fiscal 2014. Of these grants, 203 thousand restricted stock units vested immediately and 143 thousand restricted stock units are time-based and vest over a period of one year. The remaining 323 thousand restricted stock units are performance-based and vest over a two year period. The total market value of the restricted shares on the date of the grant was approximately $50.5. | ||||||||||||||||||||||||||||||
Spectrum Brands granted restricted stock units representing approximately 700 thousand shares during Fiscal 2013. Of these grants, 48 thousand restricted stock units are time-based and vest over a period of one year. Of the remaining 652 thousand restricted stock units, 90 thousand are performance-based and vest over a one year period and 562 thousand are both performance and time-based and vest over a one year performance-based period followed by a 1 year time-based period. The total market value of the restricted shares on the date of the grant was approximately $32.2. | ||||||||||||||||||||||||||||||
Spectrum Brands granted restricted stock units representing approximately 863 thousand shares during Fiscal 2012. Of these grants, 160 thousand restricted stock units are time-based and vest over a period ranging from one year to two years. The remaining 703 thousand restricted stock units are both performance and time based and vest over one year performance-based period followed by a one year time-based period. The total market value of the restricted shares on the date of the grant was approximately $24.4. | ||||||||||||||||||||||||||||||
The fair values of restricted stock awards and restricted stock units are determined based on the market price of Spectrum Brands’ common stock on the grant date. | ||||||||||||||||||||||||||||||
FGL | ||||||||||||||||||||||||||||||
In conjunction with the initial public offering, on November 7, 2013, FGL’s board of directors adopted a long term stock-based incentive plan (the “FGL 2013 Stock Incentive Plan”) under which certain officers, employees, directors and consultants are eligible to receive equity based awards. The FGL 2013 Stock Incentive Plan was approved by FGL's stockholder on November 19, 2013, became effective on December 12, 2013 and expires in December 2023. FGL’s compensation committee approved the granting of awards under the FGL 2013 Stock Incentive Plan to certain employees, officers and directors (other than the members of the compensation committee). In addition, FGL’s board of directors approved the granting of awards to members of FGL’s compensation committee. The awards made to members of the FGL's compensation committee were not made under the FGL 2013 Stock Incentive Plan; however, these awards will be construed and administered as if subject to the terms of the FGL 2013 Stock Incentive Plan. FGL’s board of directors and majority stockholder, HGI, also approved the granting of unrestricted common shares to its directors in lieu of cash compensation at the election of each individual director. | ||||||||||||||||||||||||||||||
FGL’s principal subsidiary, FGH, sponsors stock-based incentive plans and dividend equivalent plans (“DEPs”) for its employees (“FGH Plans”). Awards under the FGH Plans are based on the common stock of FGH. In Fiscal 2013, FGH determined that all equity awards will be settled in cash when exercised and therefore are classified as liability plans. The FGH plans were frozen in November 2013 and, therefore, no stock options were issued under these plans during Fiscal 2014. | ||||||||||||||||||||||||||||||
During Fiscal 2014 FGL granted stock option awards, restricted stock awards and performance restricted stock units representing approximately 249 thousand, 179 thousand and 578 thousand shares, respectively. The stock option and restricted stock awards vest over a period of 3 years. The performance restricted stock units vest on September 30, 2016 contingent on the satisfaction of performance criteria and on the participant's continued employment unless otherwise noted in the agreement. The total fair value of the stock grants during Fiscal 2014 on their respective grant dates was approximately $14.2. | ||||||||||||||||||||||||||||||
During Fiscal 2013, FGL granted stock option awards and restricted stock units representing approximately 195 thousand and 53 thousand shares, respectively. These stock options and restricted shares vest over a period of 3 years and expire on the seventh anniversary of the grant date. The total fair value of the option grants and restricted stock unit grant on the grant date was $0.6 and $2.0, respectively. | ||||||||||||||||||||||||||||||
During Fiscal 2012 FGH granted stock option awards representing approximately 207 thousand shares. These stock options vest over a period of 3 years and expire on the seventh anniversary of the grant. The total fair value of the grants on their grant dates was approximately $0.8. | ||||||||||||||||||||||||||||||
The total compensation cost related to non-vested options, restricted stock units and dividend equivalent plans, not yet recognized as of September 30, 2014 totaled $16.3 and will be recognized over a weighted-average period of 1.8 years. | ||||||||||||||||||||||||||||||
The fair value of stock option awarded by, respectively, FGL during Fiscal 2014, and FGH during Fiscal 2013, is determined using the Black-Scholes option pricing model. The following assumptions were used in the determination of these grant date fair values using the Black-Scholes option pricing model: | ||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Risk-free interest rate | 1.40% to 1.41% | 0.80% | 0.80% | |||||||||||||||||||||||||||
Assumed dividend yield | 1.30% to 1.50% | 6% | 10% | |||||||||||||||||||||||||||
Expected option term | 4.5 years | 4.5 years | 4.5 years | |||||||||||||||||||||||||||
Volatility | 25% | 27% | 35% | |||||||||||||||||||||||||||
Compass | ||||||||||||||||||||||||||||||
In May 2013, Compass adopted an incentive plan (“Incentive Unit Plan”) which allowed for awards to be issued that cover up to 1 million Class B Units. The plan is intended to grant phantom units that correspond to Class B Units prior to the vesting date, in tandem with dividend equivalent rights (“DER”) to participate in distributions of Compass. The phantom units vest over a range of two to three years. Upon vesting, the phantom units will be settled by either cash or the issuance of a Class B Unit to the participant. The accumulated distributions related to the DER will be paid to the participant upon the vesting of the related | ||||||||||||||||||||||||||||||
phantom unit. Upon termination of a participant, any unvested phantom units or DER's (including accrued distributions) will be forfeited. | ||||||||||||||||||||||||||||||
In February 2014, Compass issued 83 thousand Class B Units in the limited partnership to its chief executive officer under its | ||||||||||||||||||||||||||||||
employee incentive plan. The Class B Units have the following features: (i) right to share in gains, losses, deductions, and credits on a pro rata basis; (ii) right to share in distributions on a pro rata basis; (iii) no voting rights; and (iv) are not convertible into Class A Units. | ||||||||||||||||||||||||||||||
The agreement includes a call-right on behalf of Compass and a put-right on behalf of the participant. The call-right becomes exercisable upon the termination of a participant, and gives Compass the option to repurchase any Class B Units held by the participant. The put-right becomes exercisable during the first designated window period after the participant has held the Class B Unit for a period of six months, and gives the participant the option to cause Compass to repurchase the participant’s Class B Units. The repurchase price under the call-right and put-rights shall be the fair market value as of the date of exercise as determined by Compass. | ||||||||||||||||||||||||||||||
During the year ended September 30, 2014, the majority of the vested shares were settled in cash resulting in a liability classification in accordance with ASC 718. | ||||||||||||||||||||||||||||||
As of September 30, 2014, there were 647 thousand awards available for issuance under the Incentive Unit Plan. The grant date fair value of the awards was based on Compass’ determination of the market value, with each determination occurring every six months. A summary of the activity related to the incentive unit plan was as follows (share amounts in thousands): | ||||||||||||||||||||||||||||||
Shares | Weighted average grant date fair value per share | |||||||||||||||||||||||||||||
Non-vested awards at September 30, 2013 | 102 | $ | 10 | |||||||||||||||||||||||||||
Granted | 323 | 7.9 | ||||||||||||||||||||||||||||
Vested | (137 | ) | 7.88 | |||||||||||||||||||||||||||
Terminated | (18 | ) | 8.44 | |||||||||||||||||||||||||||
Non-vested awards at September 30, 2014 | 270 | $ | 8.67 | |||||||||||||||||||||||||||
(1) 83 thousand vested units were settled by issuance of Class B Units. All remaining units were settled in cash. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
Income Taxes | |||||||||||||
Income tax expense (benefit) was calculated based upon the following components of income from continuing operations before income taxes: | |||||||||||||
Fiscal | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income from continuing operations before income taxes: | |||||||||||||
United States | $ | 9.2 | $ | (78.9 | ) | $ | (146.5 | ) | |||||
Outside the United States | 204 | 197.2 | 171.9 | ||||||||||
Total income from continuing operations before taxes | $ | 213.2 | $ | 118.3 | $ | 25.4 | |||||||
The components of income tax expense (benefit) were as follows: | |||||||||||||
Fiscal | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
Federal | $ | 64.2 | $ | (32.5 | ) | $ | 74.4 | ||||||
Foreign | 46.6 | 47.7 | 38.1 | ||||||||||
State | 6.2 | 1.4 | (0.4 | ) | |||||||||
Total current | 117 | 16.6 | 112.1 | ||||||||||
Deferred: | |||||||||||||
Federal | 12.4 | 169 | (199.2 | ) | |||||||||
Foreign | (8.3 | ) | 2.1 | 5.2 | |||||||||
State | (9.6 | ) | (0.4 | ) | (3.4 | ) | |||||||
Total deferred | (5.5 | ) | 170.7 | (197.4 | ) | ||||||||
Income tax expense (benefit) | $ | 111.5 | $ | 187.3 | $ | (85.3 | ) | ||||||
The differences between income taxes expected at the U.S. Federal statutory income tax rate of 35.0% and reported income tax expense (benefit) are summarized as follows: | |||||||||||||
Fiscal | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Expected income tax expense at Federal statutory rate | $ | 74.6 | $ | 41.4 | $ | 8.9 | |||||||
Valuation allowance for deferred tax assets | (47.4 | ) | 151.8 | (139.6 | ) | ||||||||
Preferred stock equity conversion feature | 4.4 | 35.6 | 54.8 | ||||||||||
Residual tax on foreign earnings | 90.9 | (7.0 | ) | 29.8 | |||||||||
Foreign rate differential | (23.1 | ) | (18.8 | ) | (14.1 | ) | |||||||
Foreign tax law changes | (7.7 | ) | — | — | |||||||||
Gain on contingent purchase price reduction | — | — | (14.3 | ) | |||||||||
Permanent items | 6.5 | 5.7 | 9.5 | ||||||||||
Non-deductible stock based compensation | 1.4 | 1.7 | — | ||||||||||
Exempt foreign income | (5.7 | ) | (5.9 | ) | (5.8 | ) | |||||||
Unrecognized tax benefits | 2.2 | 4.1 | (4.4 | ) | |||||||||
State and local income taxes | 0.8 | (32.2 | ) | (8.5 | ) | ||||||||
Dividends received deduction | — | 1.4 | (0.9 | ) | |||||||||
Inflationary adjustments | (0.5 | ) | (0.2 | ) | (0.8 | ) | |||||||
Capitalized transaction costs | 1 | 5.6 | 0.3 | ||||||||||
Other | 14.1 | 4.1 | (0.2 | ) | |||||||||
Reported income tax expense (benefit) | $ | 111.5 | $ | 187.3 | $ | (85.3 | ) | ||||||
Effective tax rate | 52.3 | % | 158.3 | % | (335.9 | )% | |||||||
For Fiscal 2014, the Company’s effective tax rate of 52.3% was negatively impacted by the following: (i) the profitability of FGL’s life insurance subsidiaries, which files its own consolidated Federal income tax return; and (ii) pretax losses in the U.S. and some foreign jurisdictions for which the Company concluded that the tax benefits are not more likely-than-not realizable, resulting in valuation allowances. Partially offsetting these factors in Fiscal 2014 were: (i) income earned outside the U.S. that is subject to statutory rates lower than 35.0%; and (ii) the partial release of U.S. valuation allowances by FGL’s life insurance subsidiaries, totaling $40.1, attributable to a tax planning strategy that will allow for the utilization of capital loss carryforwards, that management previously concluded were more-likely-than-not unrealizable. | |||||||||||||
For Fiscal 2013, the Company’s effective tax rate of 158.3% was negatively impacted by the following: (i) the profitability of FGL’s life insurance subsidiaries which files its own consolidated Federal income tax return; (ii) pretax losses in the U.S. and some foreign jurisdictions for which the Company concluded that the tax benefits are not more-likely-than-not realizable, resulting in valuation allowances; (iii) book expense for the increase in the fair value of the equity conversion feature of Preferred Stock, for which no tax benefit is available; (iv) tax amortization of certain indefinite lived intangibles; and (v) tax expense on income in certain foreign jurisdictions that will not be creditable in the U.S. due to the Company’s U.S. taxable loss position. In addition, the Company is not permanently reinvesting income from its foreign operations, thereby subjecting unremitted foreign earnings to the U.S. Federal statutory income tax rate of 35.0%. The Company’s effective tax rate was favorably impacted by a partial release of U.S. valuation allowances against deferred tax assets that are more-likely-than-not realizable as a result of a recent acquisition by Spectrum Brands and a change in the realizability of deferred tax assets related to FGL’s life insurance subsidiaries. | |||||||||||||
For Fiscal 2012, the Company’s effective tax rate of (335.9)% representing a tax benefit despite pretax income, was positively impacted by the net release of valuation allowance attributed to the Company’s determination that certain of its deferred tax assets are more likely than not realizable and a contingent purchase price reduction. The Company’s effective tax rate was negatively impacted by the following: (i) an expense for the increase in fair value of the equity conversion feature of Preferred Stock, for which no tax benefit is available, and (ii) deferred tax provision related to the change in book versus tax basis of indefinite lived intangibles, which are amortized for tax purposes, but not for book purposes. In addition, for Fiscal 2012 and forward, the Company has asserted that it is no longer permanently reinvesting the income from its foreign operations, thereby subjecting non-U.S. unremitted earnings to the U.S. Federal statutory income tax rate of 35.0%. | |||||||||||||
The following table summarizes the components of deferred income tax assets and liabilities: | |||||||||||||
September 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Current deferred tax assets: | |||||||||||||
Employee benefits | $ | 22.9 | $ | 15.4 | |||||||||
Restructuring | 6.3 | 7.1 | |||||||||||
Inventories and receivables | 25.6 | 24.3 | |||||||||||
Employee compensation | 6.4 | 5.4 | |||||||||||
Marketing and promotional accruals | 16 | 14.1 | |||||||||||
Capitalized transaction costs | — | 0.1 | |||||||||||
Unrealized losses on mark-to-market securities | 14.7 | 12.6 | |||||||||||
Other | 17.2 | 23.9 | |||||||||||
Valuation allowance | (66.1 | ) | (55.0 | ) | |||||||||
Total current deferred tax assets | 43 | 47.9 | |||||||||||
Current deferred tax liabilities: | |||||||||||||
Inventories and receivables | (0.7 | ) | (2.7 | ) | |||||||||
Unrealized gains | (1.2 | ) | (0.4 | ) | |||||||||
Other | (6.0 | ) | (11.7 | ) | |||||||||
Total current deferred tax liabilities | (7.9 | ) | (14.8 | ) | |||||||||
Noncurrent deferred tax assets: | |||||||||||||
Employee benefits | $ | 61.4 | $ | 49.5 | |||||||||
Restructuring and purchase accounting | 0.7 | 0.3 | |||||||||||
Net operating loss, credit and capital loss carryforwards | 930.6 | 1,029.50 | |||||||||||
Prepaid royalty | 6.6 | 7 | |||||||||||
Properties | 9 | 9.7 | |||||||||||
Capitalized transaction costs | 0.6 | 0.6 | |||||||||||
Unrealized losses on mark-to-market securities | 0.3 | 2.1 | |||||||||||
Long-term debt | — | 0.7 | |||||||||||
Intangibles | 8.5 | 3.9 | |||||||||||
Deferred acquisition costs | 0.4 | 0.4 | |||||||||||
Insurance reserves and claim related adjustments | 483.8 | 477.7 | |||||||||||
Outside basis differences on partnership interests | 43.8 | 21.3 | |||||||||||
Other | 76.6 | 32.8 | |||||||||||
Valuation allowance | (712.4 | ) | (762.2 | ) | |||||||||
Total noncurrent deferred tax assets | 909.9 | 873.3 | |||||||||||
Noncurrent deferred tax liabilities: | |||||||||||||
Properties | (22.6 | ) | (27.5 | ) | |||||||||
Unrealized gains | (20.0 | ) | (13.1 | ) | |||||||||
Intangibles | (744.1 | ) | (735.5 | ) | |||||||||
Value of business acquired | (20.8 | ) | (67.3 | ) | |||||||||
Deferred acquisition costs | (104.2 | ) | (63.7 | ) | |||||||||
Tax on unremitted foreign earnings | (2.6 | ) | (18.6 | ) | |||||||||
Investments | (338.3 | ) | (156.5 | ) | |||||||||
Funds withheld receivables | (9.7 | ) | — | ||||||||||
Long-term debt | (10.0 | ) | — | ||||||||||
Other | (19.3 | ) | (23.4 | ) | |||||||||
Total noncurrent deferred tax liabilities | (1,291.6 | ) | (1,105.6 | ) | |||||||||
Total gross deferred tax assets | $ | 952.9 | $ | 921.2 | |||||||||
Total gross deferred tax liabilities | $ | (1,299.5 | ) | $ | (1,120.4 | ) | |||||||
In accordance with ASC Topic 740, the Company establishes valuation allowances for deferred tax assets that, in its judgment, are not more-likely-than-not realizable. These judgments are based on projections of future income, including tax-planning strategies, by individual tax jurisdiction. Changes in industry and economic conditions and the competitive environment may impact the accuracy of these projections. In accordance with ASC Topic 740, during each reporting period, the Company assesses the likelihood that its deferred tax assets will be realized and determines if adjustments to its valuation allowances are appropriate. As a result of this assessment, for Fiscal 2014, 2013, and 2012, the Company had a net (release) charge of valuation allowance to earnings totaling $(47.4), $151.8 and $(139.6), respectively, as more fully described below. | |||||||||||||
HGI | |||||||||||||
As a result of HGI’s cumulative losses over the past three years, management concluded at September 30, 2014, that a valuation allowance was required for its entire net deferred tax asset balance. HGI’s valuation allowance at September 30, 2014, totaled $279.9. This resulted from the Company’s conclusion that tax benefits on its pretax losses are not more-likely-than-not realizable. HGI has approximately $497.3 of U.S. Federal net operating loss (“NOL”) carryforwards which, if unused, will expire in years 2029 through 2034. HGI has approximately $35.5 of U.S. Federal capital loss carryforwards which, if unused, will expire through 2016 and 2019. HGI has approximately $16.3 of tax benefits related to U.S. state NOL carryforwards which, if unused, will expire in years 2029 through 2034. | |||||||||||||
On September 27, 2013, HGI triggered a change of ownership, as defined under Internal Revenue Code (the “IRC”) Section 382 which limits the utilization of HGI’s U.S. Federal and state net operating losses and other tax attributes. The amount of the limitation is based on a number of factors, including the value of HGI’s stock (as defined for tax purposes) on the date of the ownership change, its net unrealized gain position on that date (as defined for tax purposes), the occurrence of realized gains in years subsequent to the ownership change, and the effects of subsequent changes in ownership, if any. Such factors, including the recognition of unrealized gains, may not be relied upon when assessing the realizability of HGI’s deferred tax assets on its U.S. Federal and state net operating losses. As a result, Management has concluded that its deferred tax assets on U.S. Federal and state NOL's are not more-likely-than-not realizable. The Company also concluded that a valuation allowance was required for HGI’s entire net deferred tax asset balance at September 30, 2013, in the amount of $204.0. | |||||||||||||
Spectrum Brands | |||||||||||||
At September 30, 2014, Spectrum Brands had U.S. Federal NOL carryforwards of $1,087.8 and tax benefits related to state NOLs of $70.3. Spectrum Brands has an additional $45.5 of Federal and state NOLs for which benefits will be recorded to Additional paid-in capital when those carryforwards are used. If unused, they will expire through 2034. Spectrum Brands has foreign loss carryforwards totaling $106.5 which will expire beginning in 2015. Certain of the foreign net operating losses have indefinite carryforward periods. Spectrum Brands is subject to an annual limitation on use of its NOL carryforwards that arose prior to its emergence from bankruptcy. Spectrum Brands has had multiple changes of ownership, as defined under IRC Section 382, that limit the utilization of Spectrum Brands’ U.S. Federal and state net operating losses and other tax attributes. The annual limitation is based on a number of factors, including the value of the Spectrum Brands’ stock (as defined for tax purposes), on the date of the ownership change, its net unrealized gain position on that date, the occurrence of realized gains in years subsequent to the ownership change, and the effects of subsequent ownership changes (as defined for tax purposes), if any. Due to these limitations, Spectrum Brands estimates, as of September 30, 2014, that $301.7 of U.S. Federal NOLs and $16.8 of the tax benefit related to state NOLs will expire unused even if Spectrum Brands generates sufficient income to otherwise use all of its NOLs. In addition, separate return year limitations apply to limit Spectrum Brands’ utilization of the acquired Russell Hobbs U.S. Federal and state NOLs to future income of the Russell Hobbs subgroup. Spectrum Brands also projects, as of September 30, 2014, that $88.8 of its foreign NOLs will not be used. Spectrum Brands has provided a full valuation allowance against these deferred tax assets. | |||||||||||||
As of September 30, 2014 and 2013, Spectrum Brands’ valuation allowances totaled approximately $333.1 and $454.6, respectively. These valuation allowances were recorded on: (i) U.S. net deferred tax assets totaling $299.1 and $421.7, respectively; and (ii) foreign net deferred tax assets totaling $34.0 and $32.8, respectively. The net decrease in Spectrum Brands’ valuation allowance during Fiscal 2014 totaled $121.5, of which $122.6 relates to U.S. net deferred tax assets, and an increase of $1.1 relates to foreign net deferred tax assets. In addition, as a result of an acquisition, Spectrum Brands was able to release $62.6 of its U.S. valuation allowance during Fiscal 2014. Spectrum Brands was able to release $49.8 of its U.S. valuation allowance resulting from an acquisition during Fiscal 2013. The release was attributable to $49.8 of net deferred tax liabilities recorded on the acquiree's opening balance sheet that are available to offset other U.S. net deferred tax assets. | |||||||||||||
Effective October 1, 2012, Spectrum Brands began recording residual U.S. and foreign taxes on current foreign earnings in accordance with its change in policy not to permanently reinvest current and future foreign earnings. To the extent necessary, Spectrum Brands intends to utilize earnings of foreign subsidiaries generated after September 30, 2011, to support the plans of Spectrum Brands to voluntarily accelerate its pay down of U.S. debt, fund distributions to shareholders, fund U.S. acquisitions and satisfy ongoing U.S. operational cash flow requirements. As a result, earnings of Spectrum Brands’ non-U.S. subsidiaries after September 30, 2011 are not considered permanently reinvested, except in jurisdictions where repatriation is either precluded or restricted by law. Accordingly, Spectrum Brands is providing residual U.S. and foreign deferred taxes to these earnings to the extent they cannot be repatriated in a tax-free manner. As a result for Fiscal 2014, Spectrum Brands recorded residual taxes on approximately $190.5 of distributions of foreign earnings and $3.1 of earnings not yet taxed in the U.S., which had no impact to income tax expense due to a corresponding adjustment to Spectrum Brands’ domestic valuation allowance. For Fiscal 2013, Spectrum Brands recorded residual U.S. and foreign taxes on approximately $12.5 of distributions of foreign earnings and $45.7 of earnings not yet taxed in the U.S., which had no impact to income tax expense due to a corresponding adjustment to Spectrum Brands’ domestic valuation allowance. During Fiscal 2014, $178.7 of the distributions related to one-time internal restructuring and external debt refinancing activities. Due to the U.S. valuation allowance, these activities did not result in a Fiscal 2014 tax increase. Fiscal 2013 and 2012 distributions were primarily non-cash deemed distributions under U.S. tax law. | |||||||||||||
Remaining undistributed earnings of Spectrum Brands’ foreign operations totaled approximately $351.5 at September 30, 2014, and are permanently reinvested. Spectrum Brands has determined that it is not practical to calculate the residual U.S. income tax on the foregoing permanently reinvested unremitted foreign earnings. | |||||||||||||
FGL | |||||||||||||
At September 30, 2014, FGL’s deferred tax assets were primarily the result of U.S. NOL, capital loss and tax credit carryforwards and insurance reserves. FGL’s net deferred tax asset position at September 30, 2014 and 2013, before consideration of its recorded valuation allowance, totaled $256.2 and $399.2, respectively. Valuation allowances of $118.8 and $158.7 were recorded against its gross deferred tax asset balance at September 30, 2014 and 2013, respectively. FGL’s net deferred tax asset position at September 30, 2014 and 2013, after taking into account the valuation allowance, was $137.4 and $240.5, respectively. For Fiscal 2014 and 2013, FGL recorded a net valuation allowance release of $40.1 (comprised of a full year valuation release of $43.0 related to FGL’s operating insurance subsidiaries, partially offset by an increase to valuation allowance of $2.9 related to the non-life companies) and $18.9 (comprised of a full year valuation release of $20.7 related to the life insurance companies, partially offset by an increase to valuation allowance of $1.8 related to FGL’s non-life companies), respectively, based on management’s reassessment of the amount of its deferred tax assets that are more-likely-than-not realizable. | |||||||||||||
At September 30, 2014, FGL’s valuation allowance of $118.8 consisted of a partial valuation allowance of $78.0 on capital loss carryforwards and a full valuation allowance of $40.8 on non-life insurance net deferred taxes. At September 30, 2013, FGL’s valuation allowance of $158.7 consisted of a partial valuation allowance of $118.8 on capital loss carryforwards and a full valuation allowance of $39.9 on non-life insurance net deferred taxes. | |||||||||||||
As a consequence of FGL’s acquisition on April 6, 2011, utilization of certain tax attributes (carryforwards) became limited at the FGH Acquisition date under IRC sections 382 and 383. On September 27, 2013, FGL triggered a subsequent change of ownership, as defined under IRC Section 382; the resulting limitation is higher than the original limitation calculated on April 6, 2011. Consequently, this limitation is not expected to impact FGL’s utilization of its tax attributes. In addition, FGL experienced cumulative losses during the three-year period preceding its acquisition. These are among the factors the Company considered in establishing a valuation allowance against FGL’s deferred tax asset position at the FGH Acquisition Date. | |||||||||||||
FGL maintains a valuation allowance against certain IRC section 382 limited capital loss carryforwards and the deferred tax assets of its non-life insurance company subsidiaries. A valuation allowance has been recorded against capital loss carryforwards limited under Section IRC 382 to reduce the associated deferred tax assets to an amount that is more-likely than not realizable. The non-life insurance company subsidiaries have a history of losses and insufficient sources of future income in order to recognize any portion of their deferred tax assets. | |||||||||||||
During Fiscal 2014, market conditions changed sufficiently that FGL determined it was prudent and feasible to adopt a new tax planning strategy. The strategy involves repositioning a portion of the investment portfolio to trigger $100.0 in net unrealized built-in gains (“NUBIG”). The sale of these assets will result in an increase to FGL’s Section 382 limit (i.e. the “adjusted limit”), enabling FGL to utilize capital loss carryforwards that will offset NUBIG-related gains. This strategy makes it more likely than not that the amount of capital loss carryforwards needed to offset those gains will be utilized. Therefore, FGL released a portion of the valuation allowance previously recorded against its deferred tax asset related to capital loss carryforwards. FGL intends to execute the transactions prior to the expiration of Section 382-limited capital loss carryforwards. As of September 30, 2014, approximately $67.8 of NUBIG has been recognized, resulting in $23.7 of tax benefits. FGL currently has capital loss carryforwards of $255.0 that will expire on December 31, 2015. | |||||||||||||
Key considerations in FGL’s decision supporting adoption of the planning strategy include wider spreads in specific credit markets, increased range of executable reinvestment opportunities, and an enhanced focus on managing and increasing FGL’s Statutory Interest Maintenance Reserve (“IMR”) balance and capital position providing increased flexibility in volatile interest rate and credit spread markets. | |||||||||||||
At September 30, 2014 and 2013, FGL had NOL carryforwards of $92.5 and $92.7, respectively, which, if unused, will expire in years 2026 through 2034. FGL had capital loss carryforwards totaling $259.1 and $350.4 at September 30, 2014 and 2013, respectively, which if unused, will expire in years 2015 through 2019. In addition, at September 30, 2014 and 2013, FGL had low income housing tax credit carryforwards totaling $54.3 and $54.2, respectively, which, if unused, will expire in years 2017 through 2034 and alternative minimum tax credits of $6.3 and $6.3, respectively, that may be carried forward indefinitely. Certain tax attributes are subject to an annual limitation as a result of the acquisition of FGL by the Company, which constitutes a change of ownership, as defined under IRC Sections 382 and 383. | |||||||||||||
Uncertain Tax Positions | |||||||||||||
The total amount of unrecognized tax benefits (“UTBs”) at September 30, 2014 and 2013 were $12.6 and $13.8, respectively. If recognized in the future, $9.3 of UTBs would impact the effective tax rate and $3.3 of UTBs would create deferred tax assets against which the Company would record a full valuation allowance. The Company records interest and penalties related to uncertain tax positions in income tax expense. At September 30, 2014 and 2013, the Company’s accrued balances of interest and penalties on uncertain tax positions totaled $4.1 and $3.7, respectively. For Fiscal 2014, 2013 and 2012, interest and penalties increased (decreased) income tax expense by $1.8, $0.0 and $(1.2), respectively. | |||||||||||||
At September 30, 2014, filed income tax returns for certain of the Company’s legal entities in various jurisdictions were undergoing income tax audits. The Company cannot predict the ultimate outcome of these examinations. However, it is reasonably possible that during the next 12 months some portion of previously unrecognized tax benefits could be recognized. | |||||||||||||
The Company believes its income tax reserves for UTBs are adequate, consistent with the principles of ASC Topic 740. The Company regularly assesses the likelihood of additional tax assessments by jurisdiction and, if necessary, adjusts its tax reserves based on new information or developments. | |||||||||||||
The following table summarizes changes to the Company’s UTB reserves, excluding related interest and penalties: | |||||||||||||
Amount | |||||||||||||
Unrecognized tax benefits at September 30, 2011 | $ | 9 | |||||||||||
Gross increase — tax positions in prior period | 0.7 | ||||||||||||
Gross decrease — tax positions in prior period | (1.3 | ) | |||||||||||
Gross increase — tax positions in current period | 0.8 | ||||||||||||
Settlements | (1.7 | ) | |||||||||||
Lapse of statutes of limitations | (1.6 | ) | |||||||||||
Unrecognized tax benefits at September 30, 2012 | 5.9 | ||||||||||||
Gross increase — tax positions in prior period | 9.1 | ||||||||||||
Gross decrease — tax positions in prior period | (0.3 | ) | |||||||||||
Gross increase — tax positions in current period | 0.5 | ||||||||||||
Settlements | (0.1 | ) | |||||||||||
Lapse of statutes of limitations | (1.3 | ) | |||||||||||
Unrecognized tax benefits at September 30, 2013 | 13.8 | ||||||||||||
Gross increase — tax positions in prior period | 2.7 | ||||||||||||
Gross decrease — tax positions in prior period | (1.4 | ) | |||||||||||
Gross increase — tax positions in current period | 0.8 | ||||||||||||
Settlements | (2.5 | ) | |||||||||||
Lapse of statutes of limitations | (0.8 | ) | |||||||||||
Unrecognized tax benefits at September 30, 2014 | $ | 12.6 | |||||||||||
HGI files U.S. Federal consolidated and state and local combined and separate income tax returns. HGI’s consolidated and combined returns do not include Spectrum Brands or FGL (life insurance subsidiaries), each of which files their own consolidated Federal, and combined and separate state and local income tax returns. HGI’s U.S. Federal income tax returns for years prior to and including 2010 are no longer subject to audit by the taxing authorities. Except for certain immaterial jurisdictions, HGI’s state and local income tax returns are no longer subject to audit for years prior to 2008. HGI’s U.S. Federal NOL carryforwards from the fiscal years ended September 30, 2010 and prior, will continue to be subject to Internal Revenue Service examination until the Statute of Limitations expires for the years in which these NOL carryforwards are ultimately utilized. | |||||||||||||
Spectrum Brands files U.S. Federal consolidated and state and local combined and separate income tax returns as well as foreign income tax returns in various jurisdictions. They are subject to ongoing examination by various taxing authorities. Spectrum Brand’s major taxing jurisdictions are the U.S., United Kingdom and Germany. | |||||||||||||
U.S. Federal income tax returns of Spectrum Brands and Russell Hobbs are no longer subject to audit for fiscal years prior to 2010. However, Federal NOL carryforwards from the fiscal years ended September 30, 2010 and prior, will continue to be subject to Internal Revenue Service examination until the Statute of Limitations expires for the years in which these NOL carryforwards are ultimately utilized. Filings in various U.S. state and local jurisdictions are also subject to audit; to date, no significant audit matters have arisen. | |||||||||||||
U.S. Federal income tax returns of FGL for years prior to 2009 are no longer subject to examination by the taxing authorities. Except for certain immaterial jurisdictions, FGL is no longer subject to state and local income tax audits for years prior to 2010. However, Federal NOL carryforwards from tax years ended June 30, 2006 and December 31, 2006, respectively, continue to be subject to Internal Revenue Service examination until the Statute of Limitations expires for the years in which these NOL carryforwards are ultimately utilized. |
Restructuring_and_related_char
Restructuring and related charges | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||||||||||||
Restructuring and Related Charges | ' | ||||||||||||||||||||||||||
Restructuring and Related Charges | |||||||||||||||||||||||||||
The Company reports restructuring and related charges associated with manufacturing and related initiatives of Spectrum Brands in “Cost of consumer products and other goods sold.” Restructuring and related charges reflected in “Cost of consumer products and other goods sold” include, but are not limited to, termination, compensation and related costs associated with manufacturing employees, asset impairments relating to manufacturing initiatives, and other costs directly related to the restructuring or integration initiatives implemented. | |||||||||||||||||||||||||||
The Company reports restructuring and related charges relating to administrative functions of Spectrum Brands in “Selling, acquisition, operating and general expenses,” such as initiatives impacting sales, marketing, distribution, or other non-manufacturing functions. Restructuring and related charges reflected in “Selling, acquisition, operating and general expenses” include, but are not limited to, termination and related costs, any asset impairments relating to the functional areas described above, and other costs directly related to the initiatives. | |||||||||||||||||||||||||||
During the fourth quarter of Fiscal 2014, the Company implemented a series of initiatives throughout the Hardware & Home Improvement business segment to reduce operating costs and exit low margin business outside the U.S. (the “HHI Business Rationalization Initiatives”). These initiatives include headcount reductions, the exit of certain facilities and the sale of a portion of the Hardware & Home Improvement Canadian operations. | |||||||||||||||||||||||||||
In Fiscal 2013 and 2009, Spectrum Brands implemented a series of initiatives to reduce operating costs and to evaluate opportunities to improve its capital structure (the “Global Expense Rationalization Initiatives” and the “Global Cost Reduction Initiatives”). | |||||||||||||||||||||||||||
The following table summarizes restructuring and related charges incurred by the Global Expense Rationalization Initiatives, HHI Business Rationalization Initiatives, and the Global Cost Reduction Initiatives, as well as other initiatives which were not significant, for Fiscal 2014 and 2013 and where those charges are classified in the accompanying Consolidated Statements of Operations: | |||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||
Initiatives: | 2014 | 2013 | 2012 | Charges Since Inception | Expected Future Charges | Total Projected Costs | Expected Completion Date | ||||||||||||||||||||
Global Expense Rationalization | $ | 13.4 | $ | 11.3 | $ | — | $ | 24.7 | $ | 21.8 | $ | 46.5 | September 30, 2015 | ||||||||||||||
HHI Business Rationalization initiatives | 4.5 | — | — | 4.5 | 4.5 | 9 | September 30, 2016 | ||||||||||||||||||||
Global Cost Reduction | 1.3 | 16.4 | 18.7 | 100.7 | 4.4 | 105.1 | January 31, 2015 | ||||||||||||||||||||
Other (a) | 3.7 | 6.3 | 0.9 | ||||||||||||||||||||||||
$ | 22.9 | $ | 34 | $ | 19.6 | ||||||||||||||||||||||
Classification: | |||||||||||||||||||||||||||
Cost of consumer products and other goods sold | $ | 3.7 | $ | 10 | $ | 9.8 | |||||||||||||||||||||
Selling, acquisition, operating and general expenses | 19.2 | 24 | 9.8 | ||||||||||||||||||||||||
$ | 22.9 | $ | 34 | $ | 19.6 | ||||||||||||||||||||||
___________________ | |||||||||||||||||||||||||||
(a) Included in “Other initiatives” in the table above, Spectrum Brands also recorded $6.2 of restructuring and related charges during Fiscal 2013, related to initiatives implemented by the HHI Business prior to the acquisition by Spectrum Brands in December 2012. | |||||||||||||||||||||||||||
The following table summarizes restructuring and related charges incurred by type of charge and where those charges are classified in the accompanying Consolidated Statements of Operations: | |||||||||||||||||||||||||||
Year ended September 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||
Costs included in cost of goods sold: | |||||||||||||||||||||||||||
Global Expense Rationalization Initiatives: | |||||||||||||||||||||||||||
Termination benefits | $ | 1 | $ | — | $ | — | |||||||||||||||||||||
Global Cost Reduction Initiatives: | |||||||||||||||||||||||||||
Termination benefits | — | 0.2 | 2.9 | ||||||||||||||||||||||||
Other associated benefits | 0.1 | 3.3 | 6.9 | ||||||||||||||||||||||||
HHI Business and other restructuring initiatives: | |||||||||||||||||||||||||||
Termination benefits | — | 0.2 | — | ||||||||||||||||||||||||
Other associated benefits | 2.6 | 6.3 | — | ||||||||||||||||||||||||
Total included in cost of goods sold | 3.7 | 10 | 9.8 | ||||||||||||||||||||||||
Costs included in selling, acquisition, operating and general expenses: | |||||||||||||||||||||||||||
Global Expense Rationalization Initiatives: | |||||||||||||||||||||||||||
Termination benefits | 5.5 | 10.3 | — | ||||||||||||||||||||||||
Other associated benefits | 6.9 | 1.1 | — | ||||||||||||||||||||||||
Global Cost Reduction Initiatives: | |||||||||||||||||||||||||||
Termination benefits | 0.2 | 6.3 | 3.1 | ||||||||||||||||||||||||
Other associated benefits | 1 | 6.4 | 5.8 | ||||||||||||||||||||||||
HHI Business and other restructuring initiatives: | |||||||||||||||||||||||||||
Termination benefits | 4.5 | — | — | ||||||||||||||||||||||||
Other associated benefits | 1.1 | (0.1 | ) | 0.9 | |||||||||||||||||||||||
Total included in selling, acquisition, operating and general expenses: | 19.2 | 24 | 9.8 | ||||||||||||||||||||||||
Total restructuring and related charges | $ | 22.9 | $ | 34 | $ | 19.6 | |||||||||||||||||||||
The following table summarizes the remaining accrual balance associated with the initiatives and the activity during Fiscal 2014: | |||||||||||||||||||||||||||
Accrual Balance at September 30, 2013 | Provisions | Cash Expenditures | Non-Cash Items | Accrual Balance at September 30, 2014 | Expensed as Incurred (a) | ||||||||||||||||||||||
Global Expense Rationalization Initiatives: | |||||||||||||||||||||||||||
Termination benefits | $ | 7.3 | $ | 3.5 | $ | (7.0 | ) | $ | 0.3 | $ | 4.1 | $ | 3 | ||||||||||||||
Other costs | — | 1.5 | — | (0.1 | ) | 1.4 | 5.4 | ||||||||||||||||||||
7.3 | 5 | (7.0 | ) | 0.2 | 5.5 | 8.4 | |||||||||||||||||||||
Global Cost Reduction Initiatives: | |||||||||||||||||||||||||||
Termination benefits | 4.9 | 0.2 | (3.5 | ) | (0.3 | ) | 1.3 | — | |||||||||||||||||||
Other costs | 0.4 | — | (0.7 | ) | 0.5 | 0.2 | 1.1 | ||||||||||||||||||||
5.3 | 0.2 | (4.2 | ) | 0.2 | 1.5 | 1.1 | |||||||||||||||||||||
HHI Business and other restructuring initiatives: | 4.1 | 5.6 | (4.3 | ) | (0.6 | ) | 4.8 | 2.6 | |||||||||||||||||||
$ | 16.7 | $ | 10.8 | $ | (15.5 | ) | $ | (0.2 | ) | $ | 11.8 | $ | 12.1 | ||||||||||||||
___________________ | |||||||||||||||||||||||||||
(a) | Consists of amounts not impacting the accrual for restructuring and related charges. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Share | ' | |||||||||||
Earnings Per Share | ||||||||||||
The Company follows the provisions of ASC Topic 260, Earnings Per Share, which requires companies with complex capital structures, such as having two (or more) classes of securities that participate in declared dividends to calculate EPS utilizing the two-class method. As the holders of the Preferred Stock are entitled to receive dividends with common stock on an as-converted basis, the Preferred Stock has the right to participate in undistributed earnings and must therefore be considered under the two-class method. | ||||||||||||
The following table sets forth the computation of basic and diluted EPS (share amounts in thousands): | ||||||||||||
Fiscal | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Net (loss) income attributable to common and participating preferred stockholders | $ | (83.9 | ) | $ | (94.2 | ) | $ | 29.9 | ||||
Participating shares at end of period: | ||||||||||||
Common shares outstanding | 196,878 | 138,876 | 139,357 | |||||||||
Preferred shares (as-converted basis) | — | 61,987 | 62,839 | |||||||||
Total | 196,878 | 200,863 | 202,196 | |||||||||
Percentage of income loss allocated to: | ||||||||||||
Common shares | 100 | % | 100 | % | 68.9 | % | ||||||
Preferred shares (a) | — | % | — | % | 31.1 | % | ||||||
Net (loss) income attributable to common shares - basic | $ | (83.9 | ) | $ | (94.2 | ) | $ | 20.6 | ||||
Net (loss) income attributable to common shares - diluted | $ | (83.9 | ) | $ | (94.2 | ) | $ | 20.6 | ||||
Weighted-average common shares outstanding - basic | 162,941 | 139,856 | 139,356 | |||||||||
Dilutive effect of unvested restricted stock and restricted stock units | — | — | 381 | |||||||||
Dilutive effect of stock options | — | — | 81 | |||||||||
Weighted-average shares outstanding - diluted | 162,941 | 139,856 | 139,818 | |||||||||
Net loss per common share attributable to controlling interest: | ||||||||||||
Basic | $ | (0.51 | ) | $ | (0.67 | ) | $ | 0.15 | ||||
Diluted | $ | (0.51 | ) | $ | (0.67 | ) | $ | 0.15 | ||||
(a) | Losses are not allocated to the convertible participating preferred shares since they have no contractual obligation to share in such losses. | |||||||||||
The number of shares of common stock outstanding used in calculating the weighted average thereof reflects the actual number of HGI common stock outstanding, excluding unvested restricted stock. | ||||||||||||
For Fiscal 2014, there were 38.0 million weighted-average shares issuable upon the conversion of the Preferred Stock, and 2.6 million and 1.3 million weighted-average shares, respectively, of the unvested restricted stock and stock units and stock options that were excluded from the calculation of “diluted net loss per common share attributable to controlling interest” because the as-converted effect of the Preferred Stock, unvested restricted stock and stock units, and stock options would have been anti-dilutive for Fiscal 2014. Also excluded from the calculation were 3.0 million warrants issued in Fiscal 2014 because the exercise price of $13.125 per share was above the average stock price for the year. | ||||||||||||
For Fiscal 2013, there were 62.4 million weighted-average shares issuable upon the conversion of the Preferred Stock, and 2.5 million and 0.6 million weighted-average shares, respectively, of the unvested restricted stock and stock units and stock options that were excluded from the calculation of “diluted net loss per common share attributable to controlling interest” because the as-converted effect of the Preferred Stock, unvested restricted stock and stock units, and stock options would have been anti-dilutive for Fiscal 2013. | ||||||||||||
For Fiscal 2012, there were 61.9 million weighted-average shares issuable upon the conversion of the Preferred Stock that were excluded from the calculation of “diluted net loss per common share attributable to controlling interest” because the as-converted effect of the Preferred Stock would have been anti-dilutive for Fiscal 2012. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Sep. 30, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
Commitments and Contingencies | |||||
Legal and Environmental Matters | |||||
The Company has aggregate reserves for its legal, environmental and regulatory matters of approximately $22.8 at September 30, 2014. These reserves relate primarily to the matters described below. However, based on currently available information, including legal defenses available to the Company, and given the aforementioned reserves and related insurance coverage, the Company does not believe that the outcome of these legal, environmental and regulatory matters will have a material effect on its financial position, results of operations or cash flows. | |||||
HGI | |||||
HGI is a nominal defendant, and the members of its board of directors are named as defendants in a purported class and derivative action filed in March 2014 by Haverhill Retirement System in the Delaware Court of Chancery. Harbinger Capital Partners LLC and certain of its affiliated funds (“HCP”) and Leucadia National Corporation (“Leucadia”), each a stockholder of HGI, are also named as defendants in the complaint. The complaint alleges, among other things, that the defendants breached their fiduciary duties in connection with transactions involving Leucadia. The complaint seeks, among other things, an unspecified award of compensatory damages and costs and disbursements. The Company believes the allegations are without merit and intends to vigorously defend this matter. | |||||
HGI is a nominal defendant, and the members of its board of directors are named as defendants in a derivative action filed in December 2010 by Alan R. Kahn in the Delaware Court of Chancery. HCP is also named as a defendant. The plaintiff alleges that HGI’s acquisition of HCP shares of Spectrum Brands in exchange for shares of common stock of HGI from HGI was financially unfair to HGI and its public stockholders and seeks unspecified damages and the rescission of the transaction. The Company believes the allegations are without merit and intends to vigorously defend this matter. | |||||
In a pending case before the U.S. District Court for the Southern District of New York, in which FGL is suing OMGUK for a $50.0 purchase price adjustment in connection with HGI’s acquisition of FGL’s subsidiaries on April 6, 2011, OMGUK counterclaimed that FGL breached its obligations under the F&G Stock Purchase Agreement to pay required fees to OMGUK related to the financing of reserves referred to as “CARVM.” FGL has opposed this counterclaim. On May 27, 2014, the court granted OMGUK’s motion for summary judgment as to the CARVM fees, the damages for which are estimated to be approximately $6.1. The court is expected to rule on CARVM damages, as well as FGL’s claim for $50.0, by early 2015. HGI is considering taking an appeal of any judgment on the CARVM counterclaim. HGI owns all of the rights, title, interest, liabilities and obligations under this litigation against OMGUK. | |||||
HGI and its subsidiaries are also involved in other litigation and claims related to their current and prior businesses. These include claims and litigations involving HGI’s and its subsidiaries current business practices and transactions and certain workers compensation, environmental matters, cases in state courts and in a Federal multi-district litigation alleging injury from exposure to asbestos on offshore drilling rigs and shipping vessels alleged to have been formerly owned or operated by HGI’s offshore drilling and bulk-shipping affiliates. Based on currently available information, including legal defenses available to it, and given its reserves and related insurance coverage, the Company does not believe that the outcome of these legal and environmental matters will have a material effect on its financial position, results of operations or cash flows. | |||||
Spectrum Brands | |||||
Spectrum Brands has accrued approximately $4.6 for the estimated costs associated with environmental remediation activities at some of its current and former manufacturing sites. Spectrum Brands believes that any additional liability which may result from resolution of these matters in excess of the amounts provided for will not have a material adverse effect on the financial condition, results of operations or cash flows of Spectrum Brands. | |||||
Spectrum Brands is a defendant in various other matters of litigation generally arising out of the ordinary course of business. Spectrum Brands does not believe that the resolution of any other matters or proceedings presently pending will have a material adverse effect on its results of operations, financial condition, liquidity or cash flows. | |||||
FGL | |||||
FGL is involved in various pending or threatened legal proceedings, including purported class actions, arising in the ordinary course of business. In some instances, these proceedings include claims for unspecified or substantial punitive damages and similar types of relief in addition to amounts for alleged contractual liability or requests for equitable relief. In the opinion of FGL management and in light of existing insurance and other potential indemnification, reinsurance and established reserves, such litigation is not expected to have a material adverse effect on FGL’s financial position, although it is possible that the results of operations and cash flows could be materially affected by an unfavorable outcome in any one period. | |||||
FGL is assessed amounts by the state guaranty funds to cover losses to policyholders of insolvent or rehabilitated insurance companies. Those mandatory assessments may be partially recovered through a reduction in future premium taxes in certain states. At September 30, 2014, FGL has accrued $4.4 for guaranty fund assessments which is expected to be offset by estimated future premium tax deductions of $4.6. | |||||
FGL has received inquiries from a number of state regulatory authorities regarding its use of the U.S. Social Security Administration’s Death Master File (“Death Master File”) and compliance with state claims practices regulation. To date, FGL has received inquiries from authorities in Maryland, Minnesota and New York. The New York Insurance Department issued a letter and subsequent regulation requiring life insurers doing business in New York to use the Death Master File or similar databases to determine if benefits were payable under life insurance policies, annuities, and retained asset accounts. Legislation requiring insurance companies to use the Death Master File to identify potential claims has recently been enacted in FGL’s state of domicile (Maryland) and other states. As a result of these legislative and regulatory developments, in May 2012, FGL undertook an initiative to use the Death Master File and other publicly available databases to identify persons potentially entitled to benefits under life insurance policies, annuities and retained asset accounts. During Fiscal 2012, FGL incurred an $11.0 benefit expense, net of reinsurance, to increase reserves to cover potential benefits payable resulting from this ongoing effort. Based on its analysis to date and management’s estimate, FGL believes the remaining accrual will cover the reasonably estimated liability arising out of these developments. In addition, FGL has received audit and examination notices from several state agencies responsible for escheatment and unclaimed property regulation in those states. FGL has established a contingency of $2.0, the mid-point of an estimated range of $1.0 to $3.0, related to the external legal costs and potential liabilities of said audits and examinations of which $0.8 has been paid through September 30, 2014. Additional costs that cannot be reasonably estimated as of the date of this filing are possible as a result of ongoing regulatory developments and other future requirements related to this matter. | |||||
On July 18, 2011, a putative class action complaint was filed in the United States District Court for the Central District of California, captioned Eddie L. Cressy v. OM Financial Life Insurance Company ("OM Financial"), et al., Case No. 2:2011-cv-05871. The Plaintiff asked the Court to certify the action as a class action on behalf of both a nationwide and a California class defined as certain persons who were sold OM Financial Life Insurance equity-indexed universal life insurance policies. The Plaintiff alleged, inter alia, that the Plaintiff and members of the putative class relied on Defendants' advice to purchase unsuitable insurance policies. After extensive motion practice, the federal court dismissed the federal causes of action, with prejudice, and, on May 9, 2013, declined to exercise supplemental jurisdiction over the state law claims, dismissed the state law claims, without prejudice, and granted the plaintiff leave to re-file the state law claims in California state court. | |||||
On July 5, 2013, the Plaintiff filed a putative class action captioned Eddie L. Cressy v. Fidelity Guaranty [sic] Life Insurance Company, et al., in the Superior Court of California, County of Los Angeles, at No. BC-514340. The state court Complaint asserts, inter alia, that the Plaintiff and members of the putative class relied on Defendants' advice in purchasing unsuitable equity-indexed insurance policies. The Plaintiff seeks to certify a class defined as "all persons who reside or are located in the state of California who were sold OM Financial/FGL Insurance equity-indexed universal life insurance policies as an investment." | |||||
On April 4, 2014, the Plaintiff, FGL Insurance and the other two defendants signed a Settlement Agreement, pursuant to which FGL Insurance has agreed to pay a total of $5.3 to settle the claims of a nationwide class consisting, with certain exclusions, of all persons who own or owned an OM Financial/FGL Insurance indexed universal life insurance policy issued from January 1, 2007 through March 31, 2014, inclusive. As part of the settlement, FGL Insurance agreed to certification of the nationwide class for settlement purposes only. An amended Settlement Agreement was filed with the court on June 5, 2014 as part of the Plaintiff’s Unopposed Motion for Preliminary Approval of Settlement and Conditional Class Certification. On June 19, 2014, the Court held a hearing on Plaintiff’s Unopposed Motion for Preliminary Approval of Settlement and Conditional Class Certification and entered its Order Granting Motion for Preliminary Approval of Class Action Settlement (“Order”). The Superior Court set a hearing date of October 3, 2014 for final approval of the settlement. The deadline for members of the settlement class to opt out of or file objections to the class settlement was September 2, 2014. FGL Insurance would have had the right to unilaterally terminate the settlement if either: (i) 100 policyholders or (ii) policyholders representing more than one percent (1%) of the total premiums paid opted out of or objected to the settlement. However, only two objections and one opt out were submitted. The deadline for class members to submit claim forms expired on October 2, 2014. Over one thousand claim forms were filed. On October 2, 2014, the Court adjourned the October 3, 2014 date for the final approval hearing for the class settlement and rescheduled the final approval hearing for November 18, 2014. On November 18, 2014, the Court granted final approval of the class settlement, subject to entry of a Final Order and Judgment. The Court ordered the parties to submit a proposed Final Order and Judgment consistent with her ruling, by November 25, 2014. | |||||
At September 30, 2014, FGL estimated the total cost for the settlement, legal fees and other costs related to this class action would be $9.9 and established a liability for the unpaid portion of the estimate of $4.8. Based on the information currently available, FGL does not expect the actual cost for settlement, legal fees and other related costs to differ materially from the amount accrued. FGL is seeking indemnification from OMGUK under the F&G Stock Purchase Agreement between FGL and OMGUK related to the settlement and the costs and fees in defending the Cressy litigation in both the federal and state courts. FGL has established an amount recoverable from OMGUK for the amount of $4.9, the collection of which FGL believes is probable. The actual amount recovered from OMGUK could be greater or less than FGL’s estimate, but FGL anticipates that the amount recovered will not be materially different than its current estimate. | |||||
In light of the inherent uncertainties involved in the matters described above and uncertainties in litigation generally, there can be no assurance that the matters described above, or any other pending or future litigation, will not have a material adverse effect on FGL's business, financial condition, or results of operations. | |||||
Compass | |||||
Various federal, state and local laws and regulations covering discharge of materials into the environment, or otherwise relating to the protection of the environment, may affect Compass’ operations and the costs of its oil and natural gas exploitation, development and production operations. Compass does not anticipate that it will be required in the foreseeable future to expend amounts material in relation to the financial statements taken as a whole by reason of environmental laws and regulations. Because these laws and regulations are constantly being changed, Compass is unable to predict the conditions and other factors over which Compass does not exercise control that may give rise to environmental liabilities affecting it. | |||||
Guarantees | |||||
Throughout its history, the Company has entered into indemnifications in the ordinary course of business with customers, suppliers, service providers, business partners and, in certain instances, when it sold businesses. Additionally, the Company has indemnified its directors and officers who are, or were, serving at the request of the Company in such capacities. Although the specific terms or number of such arrangements is not precisely known due to the extensive history of past operations, costs incurred to settle claims related to these indemnifications have not been material to the Company’s financial statements. The Company has no reason to believe that future costs to settle claims related to its former operations will have a material impact on its financial position, results of operations or cash flows. | |||||
The F&G Stock Purchase Agreement includes a Guarantee and Pledge Agreement which creates certain obligations for FGH as a grantor and also grants a security interest to OMGUK of FGL’s equity interest in FGHL and FGH’s equity interest in FGL Insurance in the event that FGL fails to perform in accordance with the terms of the F&G Stock Purchase Agreement. The Company is not aware of any events or transactions that resulted in non-compliance with the Guarantee and Pledge Agreement. | |||||
Lease Commitments | |||||
The Company’s minimum rent payments under operating leases are recognized on a straight-line basis over the term of the lease. Future minimum rental commitments under non-cancelable operating leases, principally pertaining to land, buildings and equipment, principally relating to Spectrum Brands, are as follows: | |||||
Fiscal Year | Future Minimum | ||||
Rental Commitments | |||||
2015 | $ | 49.2 | |||
2016 | 43 | ||||
2017 | 36.7 | ||||
2018 | 25.6 | ||||
2019 | 18.2 | ||||
Thereafter | 37.3 | ||||
Total minimum lease payments | $ | 210 | |||
All of the leases expire between October 2014 and July 2024. The Company’s total rent expense was $46.8, $51.3 and $36.9 during Fiscal 2014, 2013 and 2012, respectively. | |||||
Unfunded Asset Based Lending Commitments | |||||
Through Salus, the Company enters into commitments to extend credit to meet the financing needs of its asset based lending customers upon satisfaction of certain conditions. At September 30, 2014, the notional amount of unfunded, legally binding lending commitments was approximately $154.5, of which $53.5 expires in one year or less, and the remainder expires between one and five years. |
Insurance_Subsidiary_Financial
Insurance Subsidiary - Financial Information | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Insurance Subsidiary - Financial Information [Abstract] | ' | ||||||||
Insurance Subsidiary - Financial Information | ' | ||||||||
Insurance Subsidiary — Financial Information | |||||||||
FGL’s insurance subsidiaries file financial statements with state insurance regulatory authorities and the National Association of Insurance Commissioners (“NAIC”) that are prepared in accordance with Statutory Accounting Principles (“SAP”) prescribed or permitted by such authorities, which may vary materially from US GAAP. Prescribed SAP includes the Accounting Practices and Procedures Manual of the NAIC as well as state laws, regulations and administrative rules. Permitted SAP encompasses all accounting practices not so prescribed. The principal differences between statutory financial statements and financial statements prepared in accordance with US GAAP are that statutory financial statements do not reflect VOBA and DAC, some bond portfolios may be carried at amortized cost, assets and liabilities are presented net of reinsurance, contractholder liabilities are generally valued using more conservative assumptions and certain assets are non-admitted. Accordingly, statutory operating results and statutory capital and surplus may differ substantially from amounts reported in the US GAAP basis financial statements for comparable items. | |||||||||
FGL’s insurance subsidiaries’ statutory financial statements are based on a December 31 year end. Statutory net income and statutory capital and surplus of FGL's wholly owned insurance subsidiaries were as follows: | |||||||||
Subsidiary (state of domicile)(a) | |||||||||
FGL Insurance (IA) (b) | FGL NY Insurance (NY) | ||||||||
Statutory Net Income: | |||||||||
Fiscal year ended September 30, 2014 (Unaudited) | $ | 180.3 | $ | 2.7 | |||||
Year ended December 31, 2013 | 118.2 | 1.3 | |||||||
Year ended December 31, 2012 | 102.2 | 1 | |||||||
Statutory Capital and Surplus: | |||||||||
September 30, 2014 (Unaudited) | $ | 1,134.40 | $ | 64.1 | |||||
31-Dec-13 | 1,108.30 | 61.9 | |||||||
December 31, 2012 | 900.5 | 41.1 | |||||||
(a) FGL NY Insurance is a subsidiary of FGL Insurance, and the columns should not be added together. | |||||||||
(b) FGL Insurance Company re-domesticated to Iowa effective November 1, 2013. Prior to November 1, 2013, the Company was incorporated in the state of Maryland. | |||||||||
The amount of statutory capital and surplus necessary to satisfy the applicable regulatory requirements is not significant in relation to FGL Insurance's and FGL NY Insurance's respective statutory capital and surplus. | |||||||||
Life insurance companies are subject to certain Risk-Based Capital (“RBC”) requirements as specified by the NAIC. The RBC is used to evaluate the adequacy of capital and surplus maintained by an insurance company in relation to risks associated with: (i) asset risk, (ii) insurance risk, (iii) interest rate risk and (iv) business risk. FGL monitors the RBC of its insurance subsidiaries. As of September 30, 2014 and 2013, each of FGL’s insurance subsidiaries had exceeded the minimum RBC requirements (unaudited). | |||||||||
FGL’s insurance subsidiaries are restricted by state laws and regulations as to the amount of dividends they may pay to their parent without regulatory approval in any year, the purpose of which is to protect affected insurance policyholders, depositors or investors. Any dividends in excess of limits are deemed “extraordinary” and require approval. Based on statutory results as of December 31, 2013, in accordance with applicable dividend restrictions, FGL’s subsidiaries could pay “ordinary” dividends of $124.4 to FGH in 2014 less any dividends paid during the immediately preceding 12 month period. FGL did not declare or pay any dividends to FGH during the 12 month period ended September 30, 2014. Therefore, FGL Insurance will be able to declare an ordinary dividend up to $124.4 with respect to its 2013 statutory results, subject to management’s discretion. | |||||||||
FGL Insurance’s statutory carrying value of Raven Re reflected the effect of a permitted practice Raven Re received to treat the available amount of the letter of credit as an admitted asset which increased Raven Re’s statutory capital and surplus by $270.0 at December 31, 2013. Raven Re is also permitted to follow Iowa prescribed statutory accounting practice for its reserves on reinsurance assumed from FGL Insurance which increased Raven Re’s statutory capital and surplus by $20.5 at December 31, 2013. Without such permitted statutory accounting practices Raven Re’s statutory capital and surplus would be negative $108.9 (unaudited) at December 31, 2013 and its risk-based capital would fall below the minimum regulatory requirements. The letter of credit facility was collateralized by NAIC 1 rated debt securities. If the permitted practice was revoked, the letter of credit could be replaced by the collateral assets with Nomura’s consent. | |||||||||
As of September 30, 2014, FGL NY Insurance does not follow any prescribed or permitted statutory accounting practices that differ from the NAIC’s statutory accounting practices. | |||||||||
On November 1, 2013, FGL Insurance re-domesticated from Maryland to Iowa. After re-domestication, FGL Insurance elected to apply Iowa-prescribed accounting practices that permit Iowa-domiciled insurers to report equity call options used to economically hedge FIA index credits at amortized cost for statutory accounting purposes and to calculate FIA statutory reserves such that index credit returns will be included in the reserve only after crediting to the annuity contract. This resulted in an decrease in statutory capital of $0.8 (unaudited) at September 30, 2014 and an increase to statutory capital and surplus of $11.5 at December 31, 2013. Also, the Iowa Insurance Division granted FGL Insurance a permitted statutory accounting practice to reclassify its negative unassigned surplus balance of $805.8 to additional paid in capital as of April 6, 2011, the date FGL acquired FGL Insurance, which will have the effect of setting FGL Insurance’s statutory unassigned surplus to zero as of this date. The prescribed and permitted statutory accounting practice will have no impact on FGL’s consolidated financial statements which are prepared in accordance with US GAAP. |
Supplemental_Information_Relat
Supplemental Information Relating to Oil and Natural Gas Producing Activities (Unaudited) | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Extractive Industries [Abstract] | ' | ||||||||||||
Supplemental Information Relating to Oil and Natural Gas Producing Activities (Unaudited) | ' | ||||||||||||
Supplemental Information Relating to Oil and Natural Gas Producing Activities (Unaudited - See Accompanying Accountants’ Report) | |||||||||||||
The following supplemental information relating to Compass’ oil and natural gas producing activities for Fiscal 2014 and for the period from inception to September 30, 2013, is presented in accordance with ASC 932, “Extractive Activities, Oil and Gas.” | |||||||||||||
Presented below are costs incurred in oil and natural gas property acquisition, exploration and development activities (in millions, except per unit amounts): | |||||||||||||
Fiscal 2014 | Period from inception to September 30, 2013 | ||||||||||||
Proved property acquisition costs | $ | — | $ | 569.5 | |||||||||
Unproved property acquisition costs | — | 53.9 | |||||||||||
Total property acquisition costs | — | 623.4 | |||||||||||
Development | 11.4 | 11.8 | |||||||||||
Lease acquisitions and other | 0.2 | — | |||||||||||
Capitalized asset retirement costs | 0.1 | 0.1 | |||||||||||
Depletion per Boe | $ | 8.68 | $ | 10 | |||||||||
Depletion per Mcfe | $ | 1.45 | $ | 1.67 | |||||||||
Compass retains an independent engineering firm to provide annual year-end estimates of its future net recoverable oil and natural gas reserves. The estimated proved net recoverable reserves Compass shows below include only those quantities that it expects to be commercially recoverable at prices and costs in effect at the balance sheet dates under existing regulatory practices and with conventional equipment and operating methods. Proved developed reserves represent only those reserves that Compass may recover through existing wells. Proved undeveloped reserves include those reserves that Compass may recover from new wells on undrilled acreage or from existing wells on which it must make a relatively major expenditure for recompletion or secondary recovery operations. All of Compass’ reserves are located onshore in the continental United States of America. | |||||||||||||
Discounted future cash flow estimates like those shown below are not intended to represent estimates of the fair value of Compass’ oil and natural gas properties. Estimates of fair value should also consider unproved reserves, anticipated future oil and natural gas prices, interest rates, changes in development and production costs and risks associated with future production. Because of these and other considerations, any estimate of fair value is subjective and imprecise. | |||||||||||||
Oil | Natural | Natural Gas Liquids (Mbbls) | Natural Gas Equivalent (Mmcfe) | ||||||||||
(Mbbls) | Gas | ||||||||||||
(Mmcf) | |||||||||||||
Inception | |||||||||||||
Purchase of reserves in place (1) | 3,940 | 331,592 | 7,353 | 399,350 | |||||||||
Discoveries and extensions (2) | 188 | 4,416 | 753 | 10,062 | |||||||||
Revisions of previous estimates: | |||||||||||||
Changes in price | (125 | ) | 13,116 | (135 | ) | 11,556 | |||||||
Other factors (3) | (296 | ) | (12,136 | ) | (1,941 | ) | (25,558 | ) | |||||
Production | (283 | ) | (14,570 | ) | (300 | ) | (18,068 | ) | |||||
September 30, 2013 | 3,424 | 322,418 | 5,730 | 377,342 | |||||||||
Discoveries and extensions (2) | 112 | 839 | 173 | 2,549 | |||||||||
Revisions of previous estimates: | |||||||||||||
Changes in price | 233 | 20,815 | 496 | 25,189 | |||||||||
Other factors (4) | 335 | (13,750 | ) | 342 | (9,688 | ) | |||||||
Production | (414 | ) | (20,882 | ) | (521 | ) | (26,492 | ) | |||||
September 30, 2014 | 3,690 | 309,440 | 6,220 | 368,900 | |||||||||
-1 | Purchases of reserves in place include the initial contribution of conventional assets from EXCO as of February 14, 2013, and the acquisition of shallow Cotton Valley assets from an affiliate of BG Group as of March 5, 2013. | ||||||||||||
-2 | New discoveries and extensions were a result of Compass’ development in the Permian basin for both Fiscal 2014 and the period from inception to September 30, 2013. | ||||||||||||
-3 | Revisions of previous estimates due to other factors were primarily due to downward adjustments in the Permian basin of 18.1 Bcfe as a result of recent performance and modifications to Compass’ development plans which extended the development beyond a five-year horizon. In addition, revisions of previous estimates due to other factors in the East Texas/North Louisiana region were 7.5 Bcfe primarily due to performance. | ||||||||||||
-4 | Revisions of previous estimates due to other factors were primarily due to downward adjustments in the East Texas/North Louisiana region of 11.5 Bcfe primarily due to recent performance. | ||||||||||||
Estimated Quantities of Proved Developed and Undeveloped Reserves | |||||||||||||
Oil | Natural | Natural Gas Liquids (Mbbls) | Mmcfe | ||||||||||
(Mbbls) | Gas | ||||||||||||
(Mmcf) | |||||||||||||
Proved developed: | |||||||||||||
30-Sep-14 | 3,356 | 304,628 | 5,145 | 355,634 | |||||||||
30-Sep-13 | 3,107 | 317,748 | 4,799 | 365,185 | |||||||||
Proved undeveloped: | |||||||||||||
30-Sep-14 | 334 | 4,812 | 1,075 | 13,266 | |||||||||
30-Sep-13 | 317 | 4,670 | 931 | 12,157 | |||||||||
Standardized measure of discounted future net cash flows (“Standardized Measure”) | |||||||||||||
Compass has summarized the Standardized Measure related to its proved oil, natural gas, and natural gas liquids (“NGL”) reserves. Compass has based the following summary on a valuation of proved reserves using discounted cash flows based on prices as prescribed by the SEC, costs and economic conditions and a 10% discount rate. The additions to proved reserves from the purchase of reserves in place, and new discoveries and extensions could vary significantly from year to year; additionally, the impact of changes to reflect current prices and costs of reserves proved in prior years could also be significant. Accordingly, the information presented below should not be viewed as an estimate of the fair value of Compass’ oil and natural gas properties, nor should the information be considered to be indicative of any trends. | |||||||||||||
September 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Future cash inflows | $ | 1,895.20 | $ | 1,638.50 | |||||||||
Future production costs | 914.9 | 923.7 | |||||||||||
Future development costs | 164.4 | 156 | |||||||||||
Future income taxes | 136.2 | 39.3 | |||||||||||
Future net cash flows | 679.7 | 519.5 | |||||||||||
Discount of future net cash flows at 10% per annum | 333.9 | 217.2 | |||||||||||
Standardized measure of discounted future net cash flows | $ | 345.8 | $ | 302.3 | |||||||||
The reference prices at September 30, 2014 and 2013 used in the above table, were $99.08 and $95.04 per Bbl of oil, respectively, $4.24 and $3.60 per Mmbtu of natural gas, respectively, and $43.58 and $38.64 per Bbl for NGLs, respectively. The reference prices were based on West Texas Intermediate crude oil at Cushing, Oklahoma, and natural gas at Henry Hub. These prices were further adjusted for historical differentials. The prices used for NGLs were based on the trailing 12 month average of realized prices. These prices reflect the SEC rules requiring the use of simple average of the first day of the month price for the previous 12 month period. | |||||||||||||
The following are the principal sources of change in the Standardized Measure: | |||||||||||||
Fiscal 2014 | Period from inception to September 30, 2013 | ||||||||||||
Sales and transfers of oil and natural gas produced | $ | (77.4 | ) | $ | (46.2 | ) | |||||||
Net changes in prices and production costs | 141.8 | 39.2 | |||||||||||
Extensions and discoveries, net of future development and production costs | 3.5 | 8.1 | |||||||||||
Development costs during the period | 10 | 7.4 | |||||||||||
Changes in estimated future development costs | (12.0 | ) | 20.2 | ||||||||||
Revisions of previous quantity estimates | 24.2 | (50.2 | ) | ||||||||||
Purchase of reserves in place | — | 300.6 | |||||||||||
Accretion of discount before income taxes | 32.3 | 16.1 | |||||||||||
Changes in timing and other | (34.3 | ) | 27.9 | ||||||||||
Net change in income taxes | (44.6 | ) | (20.8 | ) | |||||||||
Net change | $ | 43.5 | $ | 302.3 | |||||||||
Costs not subject to amortization | |||||||||||||
The following table summarizes the categories of costs comprising the amount of unproved properties not subject to amortization by the period in which such costs were incurred. There are no individually significant properties or significant development projects included in costs not being amortized. The majority of the evaluation activities are expected to be completed within one to four years. | |||||||||||||
Total | Fiscal 2014 | Period from inception to September 30, 2013 | |||||||||||
Property acquisition costs | $ | 18.9 | $ | — | $ | 18.9 | |||||||
Capitalized interest | 1.3 | 0.7 | 0.6 | ||||||||||
Total | $ | 20.2 | $ | 0.7 | $ | 19.5 | |||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Related Party Transactions [Abstract] | ' | ||||||||||||||
Related Party Transactions | ' | ||||||||||||||
Related Party Transactions | |||||||||||||||
In November 2012, the Company and Harbinger Capital Partners LLC (“Harbinger Capital”), an affiliate of the Company and the HCP Stockholders, entered into a reciprocal services agreement (the “Services Agreement”) with respect to the provision of services to each other going forward. Pursuant to the Services Agreement, the parties each agreed to provide or cause to be provided services to each other, including their respective affiliates and subsidiaries. The services may include providing office space and operational support and each party making available their respective employees to provide services as reasonably requested by the other party, subject to any limitations contained in applicable employment agreements and the terms of the Services Agreement. Each party will pay the other party a service fee for the services provided and such service fee is intended to be the actual cost of the service without profit but including, as applicable, one-time costs, out-of pocket costs, costs of consents, fully loaded hourly rates and any pass through or allocation of payments. The Services Agreement provides that the parties are subject to confidentiality obligations and that the parties will indemnify each other and their related parties against certain costs and liabilities arising out of the performance of the Services Agreement. The Services Agreement will continue in effect until terminated by either party, following thirty (30) days advance written notice. A special committee of the Company’s board of directors, comprised of independent directors under the rules of the New York Stock Exchange, advised by independent counsel, determined that it is in the best interests of the Company and its stockholders (not including Harbinger Capital and its affiliates) for the Company to enter into the Services Agreement and recommended to the Company’s board directors that they approve entry into the Services Agreement. Following such determination, the Company’s board of directors approved the Services Agreement. The Company recognized $5.7 and $4.7 of expenses under these Service Agreement with respect to Fiscal 2014 and 2013, respectively. | |||||||||||||||
During Fiscal 2012, prior to entering into the Services Agreement discussed above, Harbinger Capital provided the Company with certain advisory and consulting services and office space for certain of the Company’s employees and officers. The Company reimbursed Harbinger Capital for its out-of-pocket expenses and the cost of advisory and consulting services and office space provided to the Company by Harbinger Capital. In addition, on January 9, 2012, the Company hired certain former personnel of Harbinger Capital effective as of October 1, 2011. The Company reimbursed Harbinger Capital for employment and other costs associated with the above employees to the extent their services related to the Company from October 1, 2011 to January 9, 2012. The Company recognized $2.0 of expenses under these arrangements with respect to Fiscal 2012. Such amounts have been approved by a special committee of the Company’s board of directors, comprised solely of independent directors under the NYSE rules, which was advised by independent counsel. The Company believes that the amount of expenses recognized is reasonable; however, it does not necessarily represent the costs that would have been incurred by the Company on a stand-alone basis. | |||||||||||||||
Pursuant to the terms of an existing registration rights agreement between the Company and Harbinger Capital Partners Master Fund I, Ltd., Global Opportunities Breakaway Ltd. and Harbinger Capital Partners Special Situations Fund, L.P. (together, the “HCP Stockholders”), the Company undertook a registered secondary offering of 23.0 million shares of the Company’s common stock owned by the HCP Stockholders. The Company incurred $0.4 related to such offering during Fiscal 2013. The Company also provided customary representations, warranties and indemnifications to the underwriters. | |||||||||||||||
In August 2013, the Company repurchased 1.7 million shares from the Harbinger Capital Partners Special Situations Fund, L.P., one of the HCP Stockholders, for $12.3, under the terms of a publicly announced general repurchase program of the Company’s outstanding common stock. | |||||||||||||||
On March 18, 2014, HGI entered into the Letter Agreement with Leucadia (the “Letter Agreement”). The Letter Agreement was entered into in connection with the consummation of the transactions contemplated by that certain Preferred Securities Purchase Agreement, dated March 18, 2014 (the “PSPA”), by and among HCP Stockholders and Leucadia, pursuant to which Leucadia acquired, following receipt of regulatory approval, 23.0 million shares of Common Stock, at a price of $11.00 per share of Common Stock, for an aggregate purchase price of $253.0 in cash. HGI did not sell any securities in the transaction. Pursuant to the Letter Agreement, Leucadia have designated two directors to HGI's board. The Letter Agreement further provides, among other things, that without the prior approval of a majority of the directors on HGI's board (other than the Leucadia designees), Leucadia and its affiliates will not acquire additional shares or voting rights of HGI that would increase Leucadia’s beneficial ownership above 27.5% of the voting power of HGI’s outstanding securities. The Letter Agreement also restricts Leucadia’s and its affiliates’ ability to make certain proposals or solicit such proxies and limits their ability to sell Leucadia’s investment in HGI to counterparties who hold, or after giving effect to a sale would hold, in excess of 4.9% of HGI’s voting stock (subject to certain exceptions). Leucadia also agreed to vote in favor of the slate of directors nominated by a majority of HGI’s board (other than the Leucadia designees). The terms of the Letter Agreement, including the provisions described above, last until March 18, 2016. In connection with the March 2014 transaction with Leucadia, under the terms of an existing registration rights agreement, the HCP Stockholders transferred a portion of their rights under the registration rights agreement with respect to the shares underlying Leucadia’s Preferred Stock and HGI entered into a Registration Right Acknowledgment among it, the HCP Stockholders and Leucadia acknowledging such transfer. A special committee of HGI’s board, comprised of independent directors under the NYSE Rules, advised by two separate outside counsel, determined that it is in the best interests of HGI and its stockholders (not including Harbinger Capital and Leucadia and their respective affiliates) for HGI to enter into the foregoing agreements and the related transactions. | |||||||||||||||
In December 2013, FGL completed an initial public offering of 9.75 million shares of common stock, and the underwriters exercised their option to purchase from the Company an additional 1.46 million shares of common stock, at a price of $17.00 per share. Jefferies LLC ("Jefferies"), one of the participating underwriters, is a wholly owned subsidiary of Leucadia, which through subsidiaries beneficially owns more than 10% of HGI’s outstanding shares of Common Stock. The underwriters in FGL’s completed initial public offering received aggregate discounts and commissions paid by FGL of $12.9, a portion of which was paid to Jefferies as a participating underwriter. | |||||||||||||||
FGL invested in CLO securities issued by Fortress Credit Opportunities III CLO LP ("FCO III") and also invested in securities issued by Fortress Credit BSL Limited ("Fortress BSL"). The parent of both FCO III and Fortress BSL is Fortress Investment Group LLC ("Fortress"), which has acquired interests greater than 10% ownership in HGI as of September 30, 2014. | |||||||||||||||
As of September 30, 2014, Leucadia's ownership interest in the outstanding common shares of HGI exceeded 10%. During the quarter ended September 30, 2014, FGL sold debt securities issued by Leucadia and corporate debt issued by Jefferies recognizing gains of $1.6 and $5.8, respectively, for the Fiscal 2014. | |||||||||||||||
The Company’s consolidated related party investments are summarized as follows: | |||||||||||||||
September 30, 2014 | |||||||||||||||
Issuer | Balance Sheet Classification | Asset carrying value | Accrued Investment Income | Total carrying value | |||||||||||
Fortress | Fixed maturities | $ | 194.9 | $ | 1.9 | $ | 196.8 | ||||||||
The Company’s related net investment income is summarized as follows: | |||||||||||||||
Fiscal | |||||||||||||||
Issuer | Investment Income Classification | 2014 | |||||||||||||
Fortress | Net investment income | $ | 1.6 | ||||||||||||
Leucadia | Net investment income | 1.1 | |||||||||||||
Jefferies | Net investment income | 1.2 | |||||||||||||
Segment_and_Georgraphic_Data
Segment and Georgraphic Data | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment and Geographic Data | ' | ||||||||||||
Segment and Geographic Data | |||||||||||||
The Company follows the accounting guidance which establishes standards for reporting information about operating segments in interim and annual financial statements. The Company’s reportable business segments are organized in a manner that reflects how HGI’s management views those business activities. Accordingly, the Company currently operates its business in four reporting segments: (i) Consumer Products, (ii) Insurance, (iii) Energy, and (iv) Asset Management. Refer to Note 29., Consolidating Financial Information, for disclosure of Total Assets for each segment. | |||||||||||||
Fiscal | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Revenues: | |||||||||||||
Consumer Products | $ | 4,429.10 | $ | 4,085.60 | $ | 3,252.40 | |||||||
Insurance | 1,349.70 | 1,348.40 | 1,221.80 | ||||||||||
Energy | 147 | 90.2 | — | ||||||||||
Asset Management | 34.2 | 28.9 | 8.6 | ||||||||||
Intersegment elimination | (17.1 | ) | (9.7 | ) | (2.1 | ) | |||||||
Consolidated segment revenues | 5,942.90 | 5,543.40 | 4,480.70 | ||||||||||
Corporate and Other | 20.1 | — | — | ||||||||||
Total revenues | $ | 5,963.00 | $ | 5,543.40 | $ | 4,480.70 | |||||||
Depreciation and amortization | |||||||||||||
Consumer Products | $ | 157.7 | $ | 139.8 | $ | 104.5 | |||||||
Insurance | 102.5 | 186.3 | 163.6 | ||||||||||
Energy | 41.8 | 32.2 | — | ||||||||||
Asset Management | 0.3 | 0.2 | 0.1 | ||||||||||
Total segments | 302.3 | 358.5 | 268.2 | ||||||||||
Corporate | 0.3 | 0.2 | 0.1 | ||||||||||
Consolidated depreciation and amortization | $ | 302.6 | $ | 358.7 | $ | 268.3 | |||||||
Operating income (loss): | |||||||||||||
Consumer Products | $ | 481.9 | $ | 351.2 | $ | 301.8 | |||||||
Insurance | 284.8 | 522.9 | 159.9 | ||||||||||
Energy | (53.7 | ) | (45.2 | ) | — | ||||||||
Asset Management | 0.7 | 10.4 | 2.5 | ||||||||||
Intersegment elimination | (17.7 | ) | (10.9 | ) | (2.1 | ) | |||||||
Total segments | 696 | 828.4 | 462.1 | ||||||||||
Corporate and eliminations | (126.5 | ) | (91.0 | ) | (52.6 | ) | |||||||
Consolidated operating income | 569.5 | 737.4 | 409.5 | ||||||||||
Interest expense | (321.9 | ) | (511.9 | ) | (251.0 | ) | |||||||
Loss from the change in the fair value of the equity conversion feature of preferred stock | (12.7 | ) | (101.6 | ) | (156.6 | ) | |||||||
Gain on contingent purchase price reduction | 0.5 | — | 41 | ||||||||||
Other expense, net | (22.2 | ) | (5.6 | ) | (17.5 | ) | |||||||
Consolidated income from continuing operations before income taxes | $ | 213.2 | $ | 118.3 | $ | 25.4 | |||||||
Fiscal | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Capital expenditures: | |||||||||||||
Consumer Products | $ | 73.4 | $ | 81.9 | $ | 46.8 | |||||||
Insurance | 9.4 | 4.1 | 6.2 | ||||||||||
Energy | 13.4 | 13.4 | — | ||||||||||
Asset Management | 0.9 | 0.3 | 0.5 | ||||||||||
Total segments | 97.1 | 99.7 | 53.5 | ||||||||||
Corporate | 1.1 | 0.4 | — | ||||||||||
Consolidated capital expenditures | $ | 98.2 | $ | 100.1 | $ | 53.5 | |||||||
September 30, | |||||||||||||
Total long-lived assets: | 2014 | 2013 | |||||||||||
Consumer Products | $ | 428.9 | $ | 412.5 | |||||||||
Insurance | 11.4 | 7 | |||||||||||
Energy | 464.4 | 572.6 | |||||||||||
Asset Management | 1.4 | 0.7 | |||||||||||
Total segments | 906.1 | 992.8 | |||||||||||
Corporate assets | 2.5 | 0.5 | |||||||||||
Consolidated total long-lived assets | $ | 908.6 | $ | 993.3 | |||||||||
Fiscal | |||||||||||||
Net change in cash due to operating activities | 2014 | 2013 | 2012 | ||||||||||
Consumer Products | $ | 432.7 | $ | 256.5 | $ | 258.7 | |||||||
Insurance | 288.1 | 336.2 | 300 | ||||||||||
Energy | 44.3 | 37.2 | — | ||||||||||
Asset Management | (4.9 | ) | 11.7 | 13.7 | |||||||||
Net change in cash due to segment operating activities | 760.2 | 641.6 | 572.4 | ||||||||||
Net change in cash due to corporate operating activities | (152.3 | ) | (119.3 | ) | 50.1 | ||||||||
Consolidated change in cash due to operating activities | $ | 607.9 | $ | 522.3 | $ | 622.5 | |||||||
The Company’s geographic data disclosures are as follows: | |||||||||||||
Net consumer and other product sales to external customers: | |||||||||||||
Fiscal | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
United States | $ | 2,660.80 | $ | 2,411.40 | $ | 1,772.10 | |||||||
Outside the United States | 1,788.40 | 1,674.20 | 1,480.30 | ||||||||||
Consolidated net consumer and other product sales to external customers | $ | 4,449.20 | $ | 4,085.60 | $ | 3,252.40 | |||||||
Long-lived assets: | |||||||||||||
September 30, | |||||||||||||
2014 | 2013 | ||||||||||||
United States | $ | 733 | $ | 811.6 | |||||||||
Outside the United States | 175.6 | 181.7 | |||||||||||
Consolidated long-lived assets | $ | 908.6 | $ | 993.3 | |||||||||
Consolidating_Financial_Inform
Consolidating Financial Information | 12 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||
Consolidating Financial Information [Abstract] | ' | ||||||||||||||||||||||||||||
Consolidating Financial Information | ' | ||||||||||||||||||||||||||||
Consolidating Financial Information | |||||||||||||||||||||||||||||
The following schedules present the Company’s consolidating balance sheet information at September 30, 2014 and September 30, 2013, and consolidating statements of operations information for Fiscal 2014, 2013 and 2012. These schedules present the individual segments of the Company and their contribution to the consolidated financial statements. Amounts presented will not necessarily be the same as those in the individual financial statements of the Company’s subsidiaries due to adjustments for purchase accounting, income taxes and noncontrolling interests. In addition, some of the Company’s subsidiaries use a classified balance sheet which also leads to differences in amounts reported for certain line items. | |||||||||||||||||||||||||||||
The Corporate and Other column primarily reflects the parent company’s investment in its subsidiaries, FOH, invested cash portfolio and corporate long term debt. The elimination adjustments are for intercompany assets and liabilities, interest and dividends, the parent company’s investment in capital stocks of subsidiaries, and various reclasses of debit or credit balances to the amounts in consolidation. Purchase accounting adjustments have been pushed down to the appropriate subsidiary. | |||||||||||||||||||||||||||||
Harbinger Group Inc. - Condensed Consolidating Balance Sheet Information | |||||||||||||||||||||||||||||
September 30, 2014 | Consumer Products | Insurance | Energy | Asset Management | Corporate and Other | Eliminations | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||
Investments | $ | — | $ | 18,820.70 | $ | — | $ | 584.6 | $ | 93.7 | $ | (246.5 | ) | $ | 19,252.50 | ||||||||||||||
Investments in subsidiaries and affiliates | — | 68.2 | — | — | 2,237.90 | (2,306.1 | ) | — | |||||||||||||||||||||
Affiliated loans and receivables | — | 157.2 | — | 28.5 | — | (185.7 | ) | — | |||||||||||||||||||||
Cash and cash equivalents | 194.6 | 633.8 | 14.2 | 53.5 | 423.1 | — | 1,319.20 | ||||||||||||||||||||||
Receivables, net | 515.3 | 2.1 | 23.7 | 0.9 | 43.1 | — | 585.1 | ||||||||||||||||||||||
Inventories, net | 624.5 | — | — | — | 10.7 | — | 635.2 | ||||||||||||||||||||||
Accrued investment income | — | 181.8 | — | 3.7 | — | (0.6 | ) | 184.9 | |||||||||||||||||||||
Reinsurance recoverable | — | 2,397.60 | — | — | — | — | 2,397.60 | ||||||||||||||||||||||
Deferred tax assets | 46.7 | 139 | — | — | 1.1 | (0.1 | ) | 186.7 | |||||||||||||||||||||
Properties, including oil and natural gas properties, net | 428.9 | 11.4 | 464.4 | 1.4 | 2.5 | — | 908.6 | ||||||||||||||||||||||
Goodwill | 1,469.60 | — | — | 10.7 | 44.5 | — | 1,524.80 | ||||||||||||||||||||||
Intangibles, including DAC and VOBA, net | 2,091.50 | 550.4 | — | — | 41.8 | — | 2,683.70 | ||||||||||||||||||||||
Other assets | 141.9 | 233.6 | 2.5 | 9.2 | 34.7 | — | 421.9 | ||||||||||||||||||||||
Total assets | $ | 5,513.00 | $ | 23,195.80 | $ | 504.8 | $ | 692.5 | $ | 2,933.10 | $ | (2,739.0 | ) | $ | 30,100.20 | ||||||||||||||
Liabilities and Equity: | |||||||||||||||||||||||||||||
Insurance reserves | $ | — | $ | 20,215.10 | $ | — | $ | — | $ | — | $ | — | $ | 20,215.10 | |||||||||||||||
Debt | 2,990.90 | 300 | 243.2 | 298.7 | 1,325.00 | — | 5,157.80 | ||||||||||||||||||||||
Accounts payable and other current liabilities | 816.2 | 71.9 | 31.3 | 8.5 | 104.6 | 0.5 | 1,033.00 | ||||||||||||||||||||||
Employee benefit obligations | 81.9 | — | — | — | 4.3 | — | 86.2 | ||||||||||||||||||||||
Deferred tax liabilities | 516 | — | — | — | 17.2 | 0.1 | 533.3 | ||||||||||||||||||||||
Other liabilities | 21.2 | 748.9 | 27.3 | 19.3 | 1.1 | — | 817.8 | ||||||||||||||||||||||
Affiliated debt and payables | — | 7.8 | 102.3 | 286.5 | 34.8 | (431.4 | ) | — | |||||||||||||||||||||
Total liabilities | 4,426.20 | 21,343.70 | 404.1 | 613 | 1,487.00 | (430.8 | ) | 27,843.20 | |||||||||||||||||||||
Temporary equity | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total stockholders’ equity | 612.4 | 1,526.90 | 100.7 | 68.2 | 1,441.60 | (2,308.2 | ) | 1,441.60 | |||||||||||||||||||||
Noncontrolling interests | 474.4 | 325.2 | — | 11.3 | 4.5 | — | 815.4 | ||||||||||||||||||||||
Total permanent equity | 1,086.80 | 1,852.10 | 100.7 | 79.5 | 1,446.10 | (2,308.2 | ) | 2,257.00 | |||||||||||||||||||||
Total liabilities and equity | $ | 5,513.00 | $ | 23,195.80 | $ | 504.8 | $ | 692.5 | $ | 2,933.10 | $ | (2,739.0 | ) | $ | 30,100.20 | ||||||||||||||
September 30, 2013 | Consumer Products | Insurance | Energy | Asset Management | Corporate and Other | Eliminations | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||
Investments | $ | — | $ | 16,282.30 | $ | — | $ | 389.3 | $ | 42.3 | $ | (248.0 | ) | $ | 16,465.90 | ||||||||||||||
Investment in subsidiaries and affiliates | — | 62 | — | — | 2,012.90 | (2,074.9 | ) | — | |||||||||||||||||||||
Affiliated loans and receivables | — | 150.1 | — | 0.9 | — | (151.0 | ) | — | |||||||||||||||||||||
Cash and cash equivalents | 207.3 | 1,248.30 | 18.7 | 166.5 | 258.9 | — | 1,899.70 | ||||||||||||||||||||||
Receivables, net | 546.9 | — | 22.2 | 1.2 | 41 | — | 611.3 | ||||||||||||||||||||||
Inventories, net | 632.9 | — | — | — | — | — | 632.9 | ||||||||||||||||||||||
Accrued investment income | — | 159.3 | — | 2.3 | — | (0.4 | ) | 161.2 | |||||||||||||||||||||
Reinsurance recoverable | — | 2,363.70 | — | — | — | — | 2,363.70 | ||||||||||||||||||||||
Deferred tax assets | 33 | 260.4 | — | — | — | — | 293.4 | ||||||||||||||||||||||
Properties, including oil and natural gas properties, net | 412.5 | 7 | 572.6 | 0.7 | 0.5 | — | 993.3 | ||||||||||||||||||||||
Goodwill | 1,476.70 | — | — | — | — | — | 1,476.70 | ||||||||||||||||||||||
Intangibles, including DAC and VOBA, net | 2,163.20 | 565.9 | — | — | — | — | 2,729.10 | ||||||||||||||||||||||
Other assets | 154.2 | 84.1 | 4.1 | 11.3 | 27.9 | — | 281.6 | ||||||||||||||||||||||
Total assets | $ | 5,626.70 | $ | 21,183.10 | $ | 617.6 | $ | 572.2 | $ | 2,383.50 | $ | (2,474.3 | ) | $ | 27,908.80 | ||||||||||||||
Liabilities and Equity: | |||||||||||||||||||||||||||||
Insurance reserves | $ | — | $ | 18,895.90 | $ | — | $ | — | $ | — | $ | — | $ | 18,895.90 | |||||||||||||||
Debt | 3,218.90 | 300 | 271.2 | 181.8 | 924.2 | — | 4,896.10 | ||||||||||||||||||||||
Accounts payable and other current liabilities | 849.4 | 52.9 | 32.8 | 6.3 | 71.3 | — | 1,012.70 | ||||||||||||||||||||||
Equity conversion feature of preferred stock | — | — | — | — | 330.8 | — | 330.8 | ||||||||||||||||||||||
Employee benefit obligations | 96.6 | — | — | — | 3 | — | 99.6 | ||||||||||||||||||||||
Deferred tax liabilities | 492.8 | — | — | — | — | — | 492.8 | ||||||||||||||||||||||
Other liabilities | 28.9 | 640.2 | 25.4 | 23.3 | 0.2 | — | 718 | ||||||||||||||||||||||
Affiliated debt and payables | — | 0.8 | 102.2 | 293.3 | — | (396.3 | ) | — | |||||||||||||||||||||
Total liabilities | 4,686.60 | 19,889.80 | 431.6 | 504.7 | 1,329.50 | (396.3 | ) | 26,445.90 | |||||||||||||||||||||
Temporary equity | — | — | 0.1 | — | 329.3 | — | 329.4 | ||||||||||||||||||||||
Total stockholders’ equity | 531 | 1,293.30 | 185.9 | 67.8 | 724.7 | (2,078.0 | ) | 724.7 | |||||||||||||||||||||
Noncontrolling interests | 409.1 | — | — | (0.3 | ) | — | — | 408.8 | |||||||||||||||||||||
Total permanent equity | 940.1 | 1,293.30 | 185.9 | 67.5 | 724.7 | (2,078.0 | ) | 1,133.50 | |||||||||||||||||||||
Total liabilities and equity | $ | 5,626.70 | $ | 21,183.10 | $ | 617.6 | $ | 572.2 | $ | 2,383.50 | $ | (2,474.3 | ) | $ | 27,908.80 | ||||||||||||||
Harbinger Group Inc. - Condensed Consolidating Statements of Operations Information | |||||||||||||||||||||||||||||
Year ended September 30, 2014 | Consumer Products | Insurance | Energy | Asset Management | Corporate and Other | Eliminations | Total | ||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||
Net consumer and other product sales | $ | 4,429.10 | $ | — | $ | — | $ | — | $ | 20.1 | $ | — | $ | 4,449.20 | |||||||||||||||
Oil and natural gas | — | — | 147 | — | — | — | 147 | ||||||||||||||||||||||
Insurance premiums | — | 56.6 | — | — | — | — | 56.6 | ||||||||||||||||||||||
Net investment income | — | 824.5 | — | 34.2 | — | (16.5 | ) | 842.2 | |||||||||||||||||||||
Net investment gains | — | 395.9 | — | — | — | (0.6 | ) | 395.3 | |||||||||||||||||||||
Insurance and investment product fees and other | — | 72.7 | — | — | — | — | 72.7 | ||||||||||||||||||||||
Total revenues | 4,429.10 | 1,349.70 | 147 | 34.2 | 20.1 | (17.1 | ) | 5,963.00 | |||||||||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||||
Cost of consumer products and other goods sold | 2,860.30 | — | — | — | 15.3 | — | 2,875.60 | ||||||||||||||||||||||
Oil and natural gas direct operating costs | — | — | 69.6 | — | — | — | 69.6 | ||||||||||||||||||||||
Benefits and other changes in policy reserves | — | 852.7 | — | — | — | — | 852.7 | ||||||||||||||||||||||
Selling, acquisition, operating and general expenses | 1,005.20 | 114.7 | 50.1 | 33.5 | 131.3 | 0.6 | 1,335.40 | ||||||||||||||||||||||
Impairment of oil and gas properties | — | — | 81 | — | — | — | 81 | ||||||||||||||||||||||
Amortization of intangibles | 81.7 | 97.5 | — | — | — | — | 179.2 | ||||||||||||||||||||||
Total operating costs and expenses | 3,947.20 | 1,064.90 | 200.7 | 33.5 | 146.6 | 0.6 | 5,393.50 | ||||||||||||||||||||||
Operating income (loss) | 481.9 | 284.8 | (53.7 | ) | 0.7 | (126.5 | ) | (17.7 | ) | 569.5 | |||||||||||||||||||
Equity in net income (losses) of subsidiaries | — | (6.0 | ) | — | — | 221.4 | (215.4 | ) | — | ||||||||||||||||||||
Interest expense | (202.1 | ) | (22.5 | ) | (7.7 | ) | — | (89.6 | ) | — | (321.9 | ) | |||||||||||||||||
Affiliated interest expense | — | — | (9.0 | ) | (6.0 | ) | (1.5 | ) | 16.5 | — | |||||||||||||||||||
Loss from the change in the fair value of the equity conversion feature of preferred stock | — | — | — | — | (12.7 | ) | — | (12.7 | ) | ||||||||||||||||||||
Gain on contingent purchase price reduction | — | — | — | — | 0.5 | — | 0.5 | ||||||||||||||||||||||
Other expense, net | (6.3 | ) | — | (6.5 | ) | (1.2 | ) | (4.7 | ) | (3.5 | ) | (22.2 | ) | ||||||||||||||||
Income (loss) from continuing operations before income taxes | 273.5 | 256.3 | (76.9 | ) | (6.5 | ) | (13.1 | ) | (220.1 | ) | 213.2 | ||||||||||||||||||
Income tax expense (benefit) | 59 | 54 | — | (0.1 | ) | 0.9 | (2.3 | ) | 111.5 | ||||||||||||||||||||
Net income (loss) | 214.5 | 202.3 | (76.9 | ) | (6.4 | ) | (14.0 | ) | (217.8 | ) | 101.7 | ||||||||||||||||||
Less: Net income (loss) attributable to noncontrolling interest | 88.9 | 27.2 | — | (0.4 | ) | (3.7 | ) | — | 112 | ||||||||||||||||||||
Net (loss) income attributable to controlling interest | 125.6 | 175.1 | (76.9 | ) | (6.0 | ) | (10.3 | ) | (217.8 | ) | (10.3 | ) | |||||||||||||||||
Less: Preferred stock dividends, accretion and loss on conversion | — | — | — | — | 73.6 | — | 73.6 | ||||||||||||||||||||||
Net (loss) income attributable to common and participating preferred stockholders | $ | 125.6 | $ | 175.1 | $ | (76.9 | ) | $ | (6.0 | ) | $ | (83.9 | ) | $ | (217.8 | ) | $ | (83.9 | ) | ||||||||||
Year ended September 30, 2013 | Consumer Products | Insurance | Energy | Asset Management | Corporate and Other | Eliminations | Total | ||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||
Net consumer and other product sales | $ | 4,085.60 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 4,085.60 | |||||||||||||||
Oil and natural gas | — | — | 90.2 | — | — | — | 90.2 | ||||||||||||||||||||||
Insurance premiums | — | 58.8 | — | — | — | — | 58.8 | ||||||||||||||||||||||
Net investment income | — | 715.5 | — | 28.9 | — | (9.7 | ) | 734.7 | |||||||||||||||||||||
Net investment gains | — | 511.6 | — | — | — | — | 511.6 | ||||||||||||||||||||||
Insurance and investment product fees and other | — | 62.5 | — | — | — | — | 62.5 | ||||||||||||||||||||||
Total revenues | 4,085.60 | 1,348.40 | 90.2 | 28.9 | — | (9.7 | ) | 5,543.40 | |||||||||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||||
Cost of consumer products and other goods sold | 2,695.30 | — | — | — | — | — | 2,695.30 | ||||||||||||||||||||||
Oil and natural gas direct operating costs | — | — | 44 | — | — | — | 44 | ||||||||||||||||||||||
Benefits and other changes in policy reserves | — | 531.8 | — | — | — | — | 531.8 | ||||||||||||||||||||||
Selling, acquisition, operating and general expenses | 961.3 | 111.4 | 37.1 | 18.5 | 91 | 1.2 | 1,220.50 | ||||||||||||||||||||||
Impairment of oil and natural gas properties | — | — | 54.3 | — | — | — | 54.3 | ||||||||||||||||||||||
Amortization of intangibles | 77.8 | 182.3 | — | — | — | — | 260.1 | ||||||||||||||||||||||
Total operating costs and expenses | 3,734.40 | 825.5 | 135.4 | 18.5 | 91 | 1.2 | 4,806.00 | ||||||||||||||||||||||
Operating income (loss) | 351.2 | 522.9 | (45.2 | ) | 10.4 | (91.0 | ) | (10.9 | ) | 737.4 | |||||||||||||||||||
Equity in net income of subsidiaries | — | — | — | — | 266.3 | (266.3 | ) | — | |||||||||||||||||||||
Interest expense | (375.6 | ) | (11.5 | ) | (4.7 | ) | — | (120.1 | ) | — | (511.9 | ) | |||||||||||||||||
Affiliated interest expense | — | — | (5.6 | ) | (4.1 | ) | — | 9.7 | — | ||||||||||||||||||||
Loss from the change in the fair value of the equity conversion feature of preferred stock | — | — | — | — | (101.6 | ) | — | (101.6 | ) | ||||||||||||||||||||
Other expense net | (3.5 | ) | (0.2 | ) | (1.3 | ) | — | (0.6 | ) | — | (5.6 | ) | |||||||||||||||||
Income (loss) from continuing operations before income taxes | (27.9 | ) | 511.2 | (56.8 | ) | 6.3 | (47.0 | ) | (267.5 | ) | 118.3 | ||||||||||||||||||
Income tax expense (benefit) | 27.4 | 161 | — | 0.1 | (1.2 | ) | — | 187.3 | |||||||||||||||||||||
Net (loss) income | (55.3 | ) | 350.2 | (56.8 | ) | 6.2 | (45.8 | ) | (267.5 | ) | (69.0 | ) | |||||||||||||||||
Less: Net (loss) income attributable to noncontrolling interest | (23.6 | ) | — | — | 0.4 | — | — | (23.2 | ) | ||||||||||||||||||||
Net (loss) income attributable to controlling interest | (31.7 | ) | 350.2 | (56.8 | ) | 5.8 | (45.8 | ) | (267.5 | ) | (45.8 | ) | |||||||||||||||||
Less: Preferred stock dividends, accretion and loss on conversion | — | — | — | — | 48.4 | — | 48.4 | ||||||||||||||||||||||
Net (loss) income attributable to common and participating preferred stockholders | $ | (31.7 | ) | $ | 350.2 | $ | (56.8 | ) | $ | 5.8 | $ | (94.2 | ) | $ | (267.5 | ) | $ | (94.2 | ) | ||||||||||
Year ended September 30, 2012 | Consumer Products | Insurance | Energy | Asset Management | Corporate and Other | Eliminations | Total | ||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||
Net consumer product sales | $ | 3,252.40 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3,252.40 | |||||||||||||||
Insurance premiums | — | 55.3 | — | — | — | — | 55.3 | ||||||||||||||||||||||
Net investment income | — | 716.2 | — | 8.6 | — | (2.1 | ) | 722.7 | |||||||||||||||||||||
Net investment gains (losses) | — | 410 | — | — | — | — | 410 | ||||||||||||||||||||||
Insurance and investment product fees and other | — | 40.3 | — | — | — | — | 40.3 | ||||||||||||||||||||||
Total revenues | 3,252.40 | 1,221.80 | — | 8.6 | — | (2.1 | ) | 4,480.70 | |||||||||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||||
Consumer products cost of goods sold | 2,136.80 | — | — | — | — | — | 2,136.80 | ||||||||||||||||||||||
Benefits and other changes in policy reserves | — | 777.4 | — | — | — | — | 777.4 | ||||||||||||||||||||||
Selling, acquisition, operating and general expenses | 750.1 | 123.9 | — | 6.1 | 52.6 | — | 932.7 | ||||||||||||||||||||||
Amortization of intangibles | 63.7 | 160.6 | — | — | — | — | 224.3 | ||||||||||||||||||||||
Total operating costs and expenses | 2,950.60 | 1,061.90 | — | 6.1 | 52.6 | — | 4,071.20 | ||||||||||||||||||||||
Operating income (loss) | 301.8 | 159.9 | — | 2.5 | (52.6 | ) | (2.1 | ) | 409.5 | ||||||||||||||||||||
Equity in net income (losses) of subsidiaries | — | — | — | — | 372 | (372.0 | ) | — | |||||||||||||||||||||
Interest expense | (191.9 | ) | (2.5 | ) | — | — | (56.6 | ) | — | (251.0 | ) | ||||||||||||||||||
Affiliated interest income | — | — | — | (2.1 | ) | — | 2.1 | — | |||||||||||||||||||||
Gain from the change in the fair value of the equity conversion feature of preferred stock | — | — | — | — | (156.6 | ) | — | (156.6 | ) | ||||||||||||||||||||
Gain on contingent purchase price reduction | — | 41 | — | — | — | — | 41 | ||||||||||||||||||||||
Other expense, net | (0.9 | ) | 0.1 | — | — | (16.7 | ) | — | (17.5 | ) | |||||||||||||||||||
Income from continuing operations before income taxes | 109 | 198.5 | — | 0.4 | 89.5 | (372.0 | ) | 25.4 | |||||||||||||||||||||
Income tax expense (benefit) | 60.4 | (145.7 | ) | — | — | — | — | (85.3 | ) | ||||||||||||||||||||
Net income | 48.6 | 344.2 | — | 0.4 | 89.5 | (372.0 | ) | 110.7 | |||||||||||||||||||||
Less: Net income attributable to noncontrolling interest | 21.2 | — | — | — | — | — | 21.2 | ||||||||||||||||||||||
Net income attributable to controlling interest | 27.4 | 344.2 | — | 0.4 | 89.5 | (372.0 | ) | 89.5 | |||||||||||||||||||||
Less: Preferred stock dividends and accretion and loss on conversion | — | — | — | — | 59.6 | — | 59.6 | ||||||||||||||||||||||
Net income attributable to common and participating preferred stockholders | $ | 27.4 | $ | 344.2 | $ | — | $ | 0.4 | $ | 29.9 | $ | (372.0 | ) | $ | 29.9 | ||||||||||||||
Quarterly_Results_Unaudited
Quarterly Results (Unaudited) | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||
Quarterly Results (Unaudited) | ' | ||||||||||||
Quarterly Results (Unaudited - See Accompanying Accountants’ Report) | |||||||||||||
Quarter Ended | |||||||||||||
September 30, | June 30, | March 31, | December 31, | ||||||||||
2014 | 2014 | 2014 | 2013 | ||||||||||
Total revenues | 1,512.40 | 1,599.40 | 1,341.20 | 1,510.00 | |||||||||
Operating income | 144.9 | 229.1 | 16.2 | 179.3 | |||||||||
Net (loss) income attributable to common and participating preferred stockholders | (6.3 | ) | 49 | (87.6 | ) | (39.0 | ) | ||||||
Net (loss) income per common share attributable to controlling interest: | |||||||||||||
Basic | (0.03 | ) | 0.28 | (0.63 | ) | (0.28 | ) | ||||||
Diluted | (0.03 | ) | 0.28 | (0.63 | ) | (0.28 | ) | ||||||
Quarter Ended | |||||||||||||
September 30, | June 30, | March 31, | December 30, | ||||||||||
2013 | 2013 | 2013 | 2012 | ||||||||||
Total revenues | 1,498.60 | 1,410.60 | 1,411.90 | 1,222.30 | |||||||||
Operating income | 205.4 | 182.6 | 134 | 215.4 | |||||||||
Net (loss) income attributable to common and participating preferred stockholders | (202.3 | ) | 91.6 | (45.5 | ) | 62 | |||||||
Net (loss) income per common share attributable to controlling interest: | |||||||||||||
Basic | (1.45 | ) | 0.45 | (0.33 | ) | 0.31 | |||||||
Diluted | (1.45 | ) | 0.25 | (0.33 | ) | 0.03 | |||||||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
(31) Subsequent Events | |
ASC Topic 855, “Subsequent Events” (“ASC 855”), establishes general standards of accounting and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. ASC 855 requires the Company to evaluate events that occur after the balance sheet date through the date the Company’s financial statements are issued and to determine whether adjustments to or additional disclosures in the financial statements are necessary. The Company has evaluated subsequent events through the date these financial statements were issued. The following are the significant events which occurred subsequent to September 30, 2014 but before these financial statements were issued: | |
Spectrum Brands’ Acquisition of Proctor & Gamble’s European pet food business | |
On September 23, 2014, Spectrum Brands entered into a definitive agreement to acquire Proctor & Gamble’s European pet food business, consisting of premium brands for dogs and cats. The acquisition is expected to close in the first half of Fiscal 2015. Spectrum Brands will account for this acquisition in accordance with ASC 805. | |
Spectrum Brands’ Acquisition of Tell Manufacturing | |
On October 2, 2014, the Company completed a $31.8 cash acquisition of Tell Manufacturing, Inc. (“Tell”), a leading manufacturer and distributor of commercial doors, locks and hardware. The Company will account for the acquisition of Tell in accordance with ASC 805. Spectrum Brands is in the process of completing the preliminary purchase accounting. | |
Acquisition of Remaining Interest in Compass Production | |
On October 6, 2014, the Company announced that its wholly-owned subsidiary, HGI Energy, has executed an agreement to acquire the remaining approximately 25% interests it does not already hold in Compass from EXCO for $118.8 in cash. The economic effective date of the transaction is August 1, 2014. The transaction closed on October 31, 2014 resulting in HGI owning an economic interest of 99.8% in Compass which includes 100% of the ownership interests in the General Partner. The initial accounting for this acquisition was incomplete at the time these financial statements were available for issuance. The Company expects to finalize the accounting for the acquisition as soon as practicable. | |
Spectrum Brands’ Expansion of its Global Expense Rationalization Initiatives | |
On November 3, 2014, Spectrum Brands announced an expansion to its Global Expense Rationalization Initiatives, which was initially implemented in Fiscal 2013. These expanded initiatives consist of headcount reductions in Spectrum Brands’ Global Batteries & Appliances and Global Pet Supplies segments and in Corporate, consistent with the original announcement in Fiscal 2013. Costs associated with the expanded initiatives, which are expected to be incurred through September 30, 2015, are currently projected to total approximately $46.5, which include costs associated with the Global Expense Rationalization Initiatives announced in Fiscal 2013. | |
Front Street Re Execution of New Reinsurance Transaction | |
On November 3, 2014, Front Street Cayman purchased Ability Reinsurance (Bermuda) Limited (“Ability Re”) from Ability Reinsurance Holdings Limited for approximately $17.9. Upon the purchase, Ability Re was concurrently merged into Front Street Cayman, where Front Street Cayman was the surviving entity. The Ability Re acquisition consisted of approximately $350.0 of assets supporting two closed block long-term care reinsurance agreements and the associated capital. The acquired reinsurance agreements will complement Front Street Cayman’s existing in force of asset intensive, long-duration insurance liabilities. The initial accounting for this acquisition was incomplete at the time these financial statements were available for issuance. Front Street Cayman expects to finalize the accounting for the acquisition as soon as practicable. |
Schedule_I_Summary_of_Investme
Schedule I - Summary of Investments, Other Than Investments in Related Parties | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Summary of Investments, Other than Investments in Related Parties [Abstract] | ' | ||||||||||||
Schedule I - Summary of Investments, Other than Investments in Related Parties | ' | ||||||||||||
HARBINGER GROUP INC. AND SUBSIDIARIES | |||||||||||||
Summary of Investments — Other than Investments in Related Parties | |||||||||||||
September 30, 2014 | |||||||||||||
(In millions) | |||||||||||||
Amortized Cost (a) | Fair Value | Amount at which | |||||||||||
shown in the balance | |||||||||||||
sheet | |||||||||||||
Fixed maturities: | |||||||||||||
Bonds: | |||||||||||||
United States Government and government agencies and authorities | $ | 395.3 | $ | 403.3 | $ | 403.3 | |||||||
States, municipalities and political subdivisions | 1,149.90 | 1,259.80 | 1,259.80 | ||||||||||
Foreign governments | 13.1 | 12.9 | 12.9 | ||||||||||
Public utilities | 1,822.20 | 1,922.40 | 1,922.40 | ||||||||||
All other corporate bonds | 12,968.20 | 13,492.40 | 13,492.40 | ||||||||||
Redeemable preferred stock | 120 | 120.7 | 120.7 | ||||||||||
Total fixed maturities | 16,468.70 | 17,211.50 | 17,211.50 | ||||||||||
Equity securities: | |||||||||||||
Common stocks: | |||||||||||||
Banks, trust, and insurance companies | 98.4 | 85.4 | 85.4 | ||||||||||
Industrial, miscellaneous and all other | 141.2 | 104.5 | 104.5 | ||||||||||
Nonredeemable preferred stock | 547.3 | 578.2 | 578.2 | ||||||||||
Total equity securities | 786.9 | 768.1 | 768.1 | ||||||||||
Derivative investments | 177.7 | 296.3 | 296.3 | ||||||||||
Asset-based loans | 811.6 | 811.6 | 811.6 | ||||||||||
Policy loans | 10.6 | 10.6 | 10.6 | ||||||||||
Other invested assets | 154.3 | 154.4 | 154.4 | ||||||||||
Total investments | $ | 18,409.80 | $ | 19,252.50 | $ | 19,252.50 | |||||||
(a) | Represents (i) original cost reduced by repayments and other-than-temporary impairments and adjusted for amortization of premiums and accrual of discounts for fixed maturity securities, (ii) original cost reduced by other-than-temporary impairments for equity securities, (iii) original cost for derivative investments, and (iv) unpaid principal balance reduced by an allowance for credit losses for asset-based loans. | ||||||||||||
See accompanying Report of Independent Registered Public Accounting Firm. |
Schedule_II_Condensed_Financia
Schedule II - Condensed Financial Information of Registrant | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Schedule II - Condensed Financial Information of the Registrant | ' | ||||||||||||
Condensed Financial Information of the Registrant | |||||||||||||
HARBINGER GROUP INC. (Registrant Only) | |||||||||||||
BALANCE SHEETS | |||||||||||||
(In millions) | |||||||||||||
September 30, | |||||||||||||
2014 | 2013 | ||||||||||||
ASSETS | |||||||||||||
Cash and cash equivalents | $ | 420 | $ | 256.9 | |||||||||
Receivables, net | 42.5 | 41 | |||||||||||
Prepaid expenses and other current assets | — | 3.3 | |||||||||||
Total current assets | 462.5 | 301.2 | |||||||||||
Investments in consolidated subsidiaries | 2,357.40 | 2,049.00 | |||||||||||
Advances to consolidated subsidiaries | 9.6 | 9.5 | |||||||||||
Properties, net | 0.6 | 0.5 | |||||||||||
Deferred charges and other assets | 31.6 | 23.1 | |||||||||||
Total assets | $ | 2,861.70 | $ | 2,383.30 | |||||||||
LIABILITIES AND EQUITY | |||||||||||||
Accounts payable | $ | 3 | $ | 1.4 | |||||||||
Accrued and other current liabilities | 86.7 | 69.6 | |||||||||||
Total current liabilities | 89.7 | 71 | |||||||||||
Long-term debt | 1,325.00 | 924.2 | |||||||||||
Equity conversion feature of preferred stock | — | 330.8 | |||||||||||
Employee benefit obligations | 4.3 | 3 | |||||||||||
Other liabilities | 1.1 | 0.3 | |||||||||||
Total liabilities | 1,420.10 | 1,329.30 | |||||||||||
Temporary equity: | |||||||||||||
Redeemable preferred stock | — | 329.3 | |||||||||||
Stockholders’ equity: | |||||||||||||
Common stock | 2 | 1.4 | |||||||||||
Additional paid-in capital | 1,472.30 | 828 | |||||||||||
Accumulated deficit | (276.3 | ) | (192.4 | ) | |||||||||
Accumulated other comprehensive income | 243.6 | 87.7 | |||||||||||
Total stockholders’ equity | 1,441.60 | 724.7 | |||||||||||
Total liabilities and equity | $ | 2,861.70 | $ | 2,383.30 | |||||||||
See accompanying Report of Independent Registered Public Accounting Firm. | |||||||||||||
SCHEDULE II | |||||||||||||
(continued) | |||||||||||||
HARBINGER GROUP INC. (Registrant Only) | |||||||||||||
STATEMENTS OF OPERATIONS | |||||||||||||
(In millions) | |||||||||||||
Year ended September 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Revenues | $ | — | $ | — | $ | — | |||||||
Cost of revenues | — | — | — | ||||||||||
Gross profit | — | — | — | ||||||||||
Operating expenses: | |||||||||||||
General and administrative | 111.1 | 77.4 | 48.4 | ||||||||||
Acquisition related charges | 4.2 | 12.7 | 3.7 | ||||||||||
Total operating expenses | 115.3 | 90.1 | 52.1 | ||||||||||
Operating loss | (115.3 | ) | (90.1 | ) | (52.1 | ) | |||||||
Other income (expense): | |||||||||||||
Equity in net income of subsidiaries | 207.7 | 263.7 | 354.6 | ||||||||||
Interest expense | (89.7 | ) | (120.1 | ) | (56.6 | ) | |||||||
Loss from the change in the fair value of the equity conversion feature of preferred stock | (12.7 | ) | (101.6 | ) | (156.6 | ) | |||||||
Gain on contingent purchase price reduction | 0.5 | — | — | ||||||||||
Other, net | 0.1 | 1.1 | 0.2 | ||||||||||
(Loss) income before income taxes | (9.4 | ) | (47.0 | ) | 89.5 | ||||||||
Income tax expense (benefit) | 0.9 | (1.2 | ) | — | |||||||||
Net (loss) income | (10.3 | ) | (45.8 | ) | 89.5 | ||||||||
Less: Preferred stock dividends and accretion and loss on conversion | 73.6 | 48.4 | 59.6 | ||||||||||
Net (loss) income attributable to common and participating preferred stockholders | $ | (83.9 | ) | $ | (94.2 | ) | $ | 29.9 | |||||
See accompanying Report of Independent Registered Public Accounting Firm. | |||||||||||||
SCHEDULE II | |||||||||||||
(continued) | |||||||||||||
HARBINGER GROUP INC. (Registrant Only) | |||||||||||||
STATEMENTS OF CASH FLOWS | |||||||||||||
(In millions) | |||||||||||||
Year ended September 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Cash flows from operating activities: | |||||||||||||
Net (loss) income | $ | (10.3 | ) | $ | (45.8 | ) | $ | 89.5 | |||||
Adjustments to reconcile net (loss) income to net cash used in operating activities: | |||||||||||||
Depreciation of properties | 0.2 | 0.2 | 0.1 | ||||||||||
Stock-based compensation | 27 | 11.7 | 1.9 | ||||||||||
Amortization of debt issuance costs | 3.5 | 2.7 | 2.9 | ||||||||||
Amortization of debt discount | 1.5 | 0.5 | 0.6 | ||||||||||
Write-off of debt issuance costs on retired debt | — | 10.8 | — | ||||||||||
Write-off of debt discount on retired debt | — | 2.1 | — | ||||||||||
Deferred income taxes | — | — | 3.6 | ||||||||||
Equity in net income of subsidiaries | (207.7 | ) | (263.7 | ) | (354.6 | ) | |||||||
Dividends from subsidiaries | 118 | 127.1 | 69.5 | ||||||||||
Loss from the change in the fair value of the equity conversion feature of preferred stock | 12.7 | 101.6 | 156.6 | ||||||||||
Gain on contingent purchase price reduction | (0.5 | ) | — | — | |||||||||
Changes in operating assets and liabilities: | |||||||||||||
Prepaid expenses and other current assets | — | — | (4.6 | ) | |||||||||
Accounts payable and accrued and other current liabilities | 43.5 | 51.4 | 27 | ||||||||||
Other operating | (0.7 | ) | 11.6 | (1.7 | ) | ||||||||
Net change in cash due to operating activities | (12.8 | ) | 10.2 | (9.2 | ) | ||||||||
Cash flows from investing activities: | |||||||||||||
Proceeds from investments sold, matured or repaid | — | 34 | 108.9 | ||||||||||
Cost of investments acquired | — | — | (68.0 | ) | |||||||||
Capital contributions to consolidated subsidiaries | (115.5 | ) | (454.4 | ) | (36.3 | ) | |||||||
Return of capital from subsidiary | — | 126.8 | 88 | ||||||||||
Repayments from (advances to) consolidated subsidiaries | — | — | 49.3 | ||||||||||
Capital expenditures | (0.3 | ) | (0.4 | ) | — | ||||||||
Net change in cash due to investing activities | (115.8 | ) | (294.0 | ) | 141.9 | ||||||||
Cash flows from financing activities: | |||||||||||||
Dividends paid on preferred stock | (28.6 | ) | (33.4 | ) | (31.7 | ) | |||||||
Proceeds from senior secured notes | 400 | 923.9 | — | ||||||||||
Repayment of senior secured notes, including tender / call premium | — | (545.9 | ) | — | |||||||||
Debt issuance costs | (10.4 | ) | (25.1 | ) | — | ||||||||
Common stock repurchased | (65.6 | ) | (12.3 | ) | — | ||||||||
Share based award tax withholding payments | (6.5 | ) | (2.3 | ) | — | ||||||||
Other financing activities | 2.8 | — | — | ||||||||||
Net change in cash due to financing activities | 291.7 | 304.9 | (31.7 | ) | |||||||||
Net increase in cash and cash equivalents | 163.1 | 21.1 | 101 | ||||||||||
Cash and cash equivalents at beginning of period | 256.9 | 235.8 | 134.8 | ||||||||||
Cash and cash equivalents at end of period | $ | 420 | $ | 256.9 | $ | 235.8 | |||||||
See accompanying Report of Independent Registered Public Accounting Firm. |
Schedule_III_Supplemental_Insu
Schedule III - Supplemental Insurance Information | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Supplementary Insurance Information [Abstract] | ' | ||||||||||||
Schedule III - Supplementary Insurance Information | ' | ||||||||||||
HARBINGER GROUP INC. AND SUBSIDIARIES | |||||||||||||
Supplementary Insurance Information | |||||||||||||
(In millions) | |||||||||||||
As of or for the year ended | |||||||||||||
September 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Life Insurance (single segment): | |||||||||||||
Deferred acquisition costs | $ | 463.8 | $ | 340.6 | $ | 169.2 | |||||||
Future policy benefits, losses, claims and loss expenses | 3,655.50 | 3,556.80 | 3,614.80 | ||||||||||
Other policy claims and benefits payable | 58.1 | 51.5 | 91.1 | ||||||||||
Premium revenue | 56.6 | 58.8 | 55.3 | ||||||||||
Net investment income | 824.5 | 715.5 | 716.2 | ||||||||||
Benefits, claims, losses and settlement expenses | (852.7 | ) | (531.8 | ) | (777.4 | ) | |||||||
Amortization of deferred acquisition costs | (41.7 | ) | (45.3 | ) | (15.2 | ) | |||||||
Other operating expenses | (114.7 | ) | (111.4 | ) | (123.9 | ) | |||||||
See accompanying Report of Independent Registered Public Accounting Firm. |
Schedule_IV_Reinsurance
Schedule IV - Reinsurance | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract] | ' | |||||||||||||||||||
Schedule IV - Reinsurance | ' | |||||||||||||||||||
HARBINGER GROUP INC. AND SUBSIDIARIES | ||||||||||||||||||||
Reinsurance | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
For the year ended September 30, 2014 | Gross Amount | Ceded to other | Assumed from | Net Amount | Percentage | |||||||||||||||
companies | other companies | of amount | ||||||||||||||||||
assumed to net | ||||||||||||||||||||
Life insurance in force | $ | 2,785.60 | $ | (2,014.3 | ) | $ | 16.4 | $ | 787.7 | 2.1 | % | |||||||||
Premiums and other considerations: | ||||||||||||||||||||
Traditional life insurance premiums | $ | 266.8 | $ | (246.1 | ) | $ | 35.9 | $ | 56.6 | 63.4 | % | |||||||||
Annuity product charges | 142.5 | (71.4 | ) | — | 71.1 | — | % | |||||||||||||
Total premiums and other considerations | $ | 409.3 | $ | (317.5 | ) | $ | 35.9 | $ | 127.7 | 28.1 | % | |||||||||
For the year ended September 30, 2013 | Gross Amount | Ceded to other | Assumed from | Net Amount | Percentage | |||||||||||||||
companies | other companies | of amount | ||||||||||||||||||
assumed to net | ||||||||||||||||||||
Life insurance in force | $ | 2,596.70 | $ | (1,965.4 | ) | $ | 17.3 | $ | 648.6 | 2.7 | % | |||||||||
Premiums and other considerations: | ||||||||||||||||||||
Traditional life insurance premiums | $ | 279.2 | $ | (253.2 | ) | $ | 32.8 | $ | 58.8 | 55.8 | % | |||||||||
Annuity product charges | 135.5 | (75.0 | ) | — | 60.5 | — | % | |||||||||||||
Total premiums and other considerations | $ | 414.7 | $ | (328.2 | ) | $ | 32.8 | $ | 119.3 | 27.5 | % | |||||||||
For the year ended September 30, 2012 | Gross Amount | Ceded to other | Assumed from | Net Amount | Percentage | |||||||||||||||
companies | other companies | of amount | ||||||||||||||||||
assumed to net | ||||||||||||||||||||
Life insurance in force | $ | 2,436.30 | $ | (1,929.0 | ) | $ | 22.8 | $ | 530.1 | 4.3 | % | |||||||||
Premiums and other considerations: | ||||||||||||||||||||
Traditional life insurance premiums | $ | 298 | $ | (289.9 | ) | $ | 47.2 | $ | 55.3 | 85.4 | % | |||||||||
Annuity product charges | 117.9 | (79.6 | ) | — | 38.3 | — | % | |||||||||||||
Total premiums and other considerations | $ | 415.9 | $ | (369.5 | ) | $ | 47.2 | $ | 93.6 | 50.4 | % | |||||||||
See accompanying Report of Independent Registered Public Accounting Firm. |
Significant_Accounting_Policie1
Significant Accounting Policies and Practices and Recent Accounting Pronouncements (Policies) | 12 Months Ended | |
Sep. 30, 2014 | ||
Accounting Policies [Abstract] | ' | |
Legal Matters and Contingencies [Text Block] | ' | |
Legal Matters and Contingencies | ||
The Company records legal fees and accruals in accordance with ASC Topic 450, “Contingencies.” Contingencies arising from environmental remediation costs, regulatory judgments, claims, assessments, guarantees, litigation, recourse reserves, fines, penalties and other sources are recorded when deemed probable and reasonably estimable. | ||
Fiscal Year End | ' | |
Fiscal Year End | ||
The Company’s fiscal year ends on September 30 and the quarters end on the last calendar day of the months of December, March and June. The Company’s significant subsidiary, Spectrum Brands’ fiscal year ends September 30 and its interim fiscal quarters end every thirteenth Sunday, except for its first fiscal quarter which may end on the fourteenth Sunday following September 30. The Company does not adjust for the difference in fiscal periods between Spectrum Brands and itself, as such difference would be less than 93 days, pursuant to Regulation S-X Rule 3A-02. References herein to Fiscal 2014, 2013 and 2012 refer to the fiscal years ended September 30, 2014, 2013 and 2012, respectively. | ||
Principles of Consolidation | ' | |
Principles of Consolidation | ||
The Consolidated Financial Statements include the accounts of HGI and all other entities in which HGI has a controlling financial interest, those variable interest entities (“VIEs”) where the Company is the primary beneficiary, and its proportionate share of the gross net assets of equity method investments in extractive industries (“Proportionate consolidation”). Intercompany accounts and transactions have been eliminated. Results of operations of acquired companies are included from the dates of acquisition and for VIEs, from the dates that the Company became the primary beneficiary. At September 30, 2014, the non-controlling interest component of total equity represents primarily the 41.3% share of Spectrum Brands and the 19.6% of FGL not owned by HGI. | ||
The Company has elected to account for its investments in extractive industries that it does not control, but over which it can exert significant influence (specifically, Compass), by using the proportionate consolidation method allowed for equity-method investments in extractive industries, under Financial Accounting Standards Board (“FASB”) ASC Topic 932, Extractive Activities. Under this method, the Company consolidates its proportionate share of the assets and liabilities of the equity method investment, using a gross presentation. | ||
A variable interest entity is an entity that lacks equity investors or whose equity investors do not have a controlling financial interest in the entity through their equity investments. The entity that has a controlling financial interest in a VIE is referred to as the primary beneficiary and consolidates the VIE. A corporation is deemed to have a controlling financial interest and is the primary beneficiary of a VIE if it has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. | ||
The Company, through its subsidiary, Salus, primarily uses VIEs for its securitization activities, in which Salus transfers whole loans into a trust or other vehicle such that the assets are legally isolated from the creditors of Salus. Assets held in a trust can only be used to settle obligations of the trust. The creditors of these trusts typically have no recourse to Salus except in accordance with the obligations under standard representations and warranties. When Salus is the servicer of whole loans held in a securitization trust, Salus has the power to direct the most significant activities of the trust. Salus consolidates a whole-loan securitization trust if it has the power to direct the most significant activities and also holds securities issued by the trust or has other contractual arrangements, other than standard representations and warranties, that could potentially be significant to the trust. | ||
Cash Equivalents | ' | |
Cash Equivalents | ||
The Company considers all highly liquid debt instruments purchased with original maturities of three months or less to be cash equivalents. | ||
Investments | ' | |
Investments | ||
HGI’s investments consist of (1) marketable equity and debt securities classified as trading and carried at fair value with unrealized gains and losses recognized in earnings, including certain securities for which the Company has elected the fair value option under ASC Topic 825, Financial Instruments, which would otherwise have been classified as available-for-sale, (2) U.S. Treasury securities and a certificate of deposit classified as held to maturity and carried at amortized cost, which approximates fair value (3) investments in debt and equity securities have been designated as available-for-sale and are carried at fair value with unrealized gains and losses included in “Accumulated other comprehensive income (loss)” (“AOCI”), net of associated intangibles “shadow adjustments” (discussed in Note 13, Goodwill and Intangibles, including DAC and VOBA, net) and deferred income taxes, and (4) originated asset-based loans that the Company intends to hold in its portfolio and which are stated at the principal amount outstanding, adjusted for unamortized deferred fees and costs as well as discounts and premiums, which are amortized to interest income (included in “Net investment income”) over the expected life of the loan on a straight-line basis. | ||
Available-for-sale SecuritiesbOther-Than-Temporary Impairments | ' | |
Available-for-sale Securities—Other-Than-Temporary Impairments | ||
The Company regularly reviews its available-for-sale securities for declines in fair value that the Company determines to be other-than-temporary. For an equity security, if the Company does not have the ability and intent to hold the security for a sufficient period of time to allow for a recovery in value, the Company concludes that an other-than-temporary impairment has occurred and the cost of the equity security is written down to the current fair value, with a corresponding charge to “Net investment gains” in the accompanying Consolidated Statements of Operations. When assessing the Company’s ability and intent to hold an equity security to recovery, the Company considers, among other things, the severity and duration of the decline in fair value of the equity security as well as the cause of the decline, a fundamental analysis of the liquidity, business prospects and the overall financial condition of the issuer. | ||
For the Company’s fixed maturity available-for-sale securities, the Company generally considers the following in determining whether the Company’s unrealized losses are other than temporarily impaired: | ||
• | The estimated range and period until recovery; | |
• | Current delinquencies and nonperforming assets of underlying collateral; | |
• | Expected future default rates; | |
• | Collateral value by vintage, geographic region, industry concentration or property type; | |
• | Subordination levels or other credit enhancements as of the balance sheet date as compared to origination; and | |
• | Contractual and regulatory cash obligations. | |
The Company recognizes other-than-temporary impairments on debt securities (including redeemable and perpetual preferred stock) in an unrealized loss position when one of the following circumstances exists: | ||
• | The Company does not expect full recovery of its amortized cost based on the estimate of cash flows expected to be collected; | |
• | The Company intends to sell a security; or | |
• | It is more likely than not that the Company will be required to sell a security prior to recovery. | |
If the Company intends to sell a debt security or it is more likely than not the Company will be required to sell the security before recovery of its amortized cost basis and the fair value of the security is below amortized cost, the Company will conclude that an other-than-temporary impairment has occurred and the amortized cost is written down to current fair value, with a corresponding charge to “Net investment gains (losses)” in the accompanying Consolidated Statements of Operations. If the Company does not intend to sell a debt security or it is more likely than not the Company will not be required to sell a debt security before recovery of its amortized cost basis and the present value of the cash flows expected to be collected is less than the amortized cost of the security (referred to as the credit loss), an other-than-temporary impairment has occurred and the amortized cost is written down to the estimated recovery value with a corresponding charge to “Net investment gains” in the accompanying Consolidated Statements of Operations, as this amount is deemed the credit loss portion of the other-than-temporary impairment. The remainder of the decline to fair value is recorded in AOCI as unrealized other-than-temporary impairment on available-for-sale securities, as this amount is considered a non-credit (i.e., recoverable) impairment. | ||
When assessing the Company’s intent to sell a debt security or if it is more likely than not the Company will be required to sell a debt security before recovery of its cost basis, the Company evaluates facts and circumstances such as, but not limited to, decisions to reposition the Company’s security portfolio, sale of securities to meet cash flow needs and sales of securities to capitalize on favorable pricing and tax planning strategies. In order to determine the amount of the credit loss for a security, the Company calculates the recovery value by performing a discounted cash flow analysis based on the current cash flows and future cash flows the Company expects to recover. The discount rate is the effective interest rate implicit in the underlying security. The effective interest rate is the original purchased yield or the yield at the date the debt security was previously impaired. | ||
When evaluating redeemable preferred stocks for other-than-temporary impairment, the Company applies the accounting policy described above for debt securities. Additionally, the SEC’s staff in the Office of the Chief Accountant issued a letter (SEC other-than-temporary impairment Release) to the Financial Accounting Standards Board (“FASB”) on October 14, 2008, providing clarifying guidance on how to assess impairments of perpetual preferred securities (“PPS”), including perpetual preferred stock. After consultation with and concurrence of the FASB staff, the SEC staff has concluded that it will not object to an issuer treating a PPS similar to a debt security in an other-than-temporary impairment evaluation (including an anticipated recovery period), provided there has been no evidence of a deterioration in credit of the issuer. Consequently, we apply the other-than-temporary-impairment guidance of debt securities to perpetual preferred stock. | ||
When evaluating mortgage-backed securities and asset-backed securities, the Company considers a number of pool-specific factors as well as market level factors when determining whether or not the impairment on the security is temporary or other-than-temporary. The most important factor is the performance of the underlying collateral in the security and the trends of that performance. The Company uses this information about the collateral to forecast the timing and rate of mortgage loan defaults, including making projections for loans that are already delinquent and for those loans that are currently performing but may become delinquent in the future. Other factors used in this analysis include type of underlying collateral (e.g., prime, Alternative A-paper (“Alt-A”), or subprime), geographic distribution of underlying loans and timing of liquidations by state. Once default rates and timing assumptions are determined, the Company then makes assumptions regarding the severity of a default if it were to occur. Factors that impact the severity assumption include expectations for future home price appreciation or depreciation, loan size, first lien versus second lien, existence of loan level private mortgage insurance, type of occupancy and geographic distribution of loans. Once default and severity assumptions are determined for the security in question, cash flows for the underlying collateral are projected including expected defaults and prepayments. These cash flows on the collateral are then translated to cash flows on the Company’s tranche based on the cash flow waterfall of the entire capital security structure. If this analysis indicates the entire principal on a particular security will not be returned, the security is reviewed for other-than-temporary impairments by comparing the present value of expected cash flows to amortized cost. To the extent that the security has already been impaired or was purchased at a discount, such that the amortized cost of the security is less than or equal to the present value of cash flows expected to be collected, no impairment is required. The Company also considers the ability of monoline insurers to meet their contractual guarantees on wrapped mortgage-backed securities. Otherwise, if the amortized cost of the security is greater than the present value of the cash flows expected to be collected, then an impairment is recognized. | ||
Asset-based Loans | ' | |
Asset-based Loans | ||
Allowance for Credit Losses | ||
Originated asset-based loans that are intended to be held in the Company’s portfolio are stated at the principal amount outstanding, adjusted for an allowance for credit losses. The delinquency status is based upon the contractual terms of the loans. At September 30, 2014, the Company has no delinquent loans. The Company generally has a cash dominion provision in its loans whereby all cash generated by its borrowers is swept into a concentration account to pay down each loan on a daily or weekly basis. In instances where the Company believes that it may not be able to collect the entirety of a loan’s principal, interest payments are applied to principal. | ||
The allowance for credit losses represents the Company’s estimate of probable losses inherent in its lending activities and is initially established upon origination of a loan. The allowance for credit losses does not include amounts related to accrued interest receivable, as accrued interest receivable is reversed when a loan is placed on nonaccrual status. The Company regularly evaluates the adequacy of the allowance for credit losses on a combined loan basis. The Company will charge loans off against its allowance for credit losses when it becomes evident that the Company will not fully collect the balance of the loan. The provision for credit losses related to the loan portfolio is charged to “Selling, acquisition, operating and general expenses” in the Consolidated Statements of Operations. | ||
Included in the allowance for credit losses are reserves that are maintained to cover uncertainties that affect the Company’s estimate of probable losses, including domestic and global economic uncertainty and large single name defaults. This collective allowance for credit losses is calculated using loss rates delineated by risk rating and loan type. Factors considered when assessing loss rates include the value of the underlying collateral, if applicable, the industry of the obligor, and the obligor’s liquidity and other financial indicators along with certain qualitative factors. If necessary, a specific allowance is also established for loans if they are deemed to be individually impaired. A loan is considered impaired when, based on current information and events, it is probable that Salus will be unable to collect all amounts due, including principal and/or interest, according to the contractual terms of the agreement. Once a loan has been identified as potentially impaired, management measures impairment based on the present value of payments expected to be received, discounted at the loans’ original effective contractual interest rates, or discounted at the portfolio average contractual annual percentage rate. Impaired loans may also be measured based on observable market prices, or for loans that are solely dependent on the collateral for repayment, the estimated fair value of the collateral less estimated costs to sell. If the recorded investment in impaired loans exceeds this amount, a specific allowance is established as a component of the allowance for loan losses. | ||
Credit Quality Indicators | ||
Salus monitors credit quality as indicated by various factors and utilizes such information in its evaluation of the adequacy of the allowance for credit losses. Salus is a non-bank asset-based lender, who uses a bank-compatible risk rating scale as a guide as to the relative risk of the loan. This scale places primary reliance on a loan’s cash-flow as a source of repayment, as compared to Salus’s primary reliance on the sale or liquidation of collateral. Quarterly, Salus’s accounting and credit teams review all substandard loans for any potential impairment. | ||
The likelihood of collectibility in accordance with the contractual terms of a loan is, in large part, dependent upon the assessed level of risk associated with the specific loan. Borrowers provide Salus with financial information, in accordance with the loan agreement. Additionally, Salus performs further credit due diligence, such as conducting site visits to the borrowers, as well as obtaining collateral appraisals as a measure of safeguard against decline in loans’ collateral values. Salus internally risk rates loans based on individual criteria on at least a quarterly basis. The internal rating that is assigned to a loan provides a view as to the relative risk of each loan. Salus employs an internal risk rating scale to establish a view of the credit quality of each loan. This scale is based on the credit classifications of assets as prescribed by industry standards for the banking industry. The internal risk rating scale is separated into the following groups: | ||
• | Pass - Loans with standard, acceptable levels of credit risk. Salus scores these loans between 1 and 5; | |
• | Special mention - Loans that have potential weaknesses that deserve close attention, and which, if left uncorrected, may result in deterioration of our credit position at some future date. Salus scores these loans as a 6; | |
• | Substandard - Loans that are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well‑defined weakness or weaknesses and are characterized by the distinct possibility that Salus will sustain some loss if the deficiencies are not corrected. Although substandard loans in the aggregate may have a distinct potential for loss, an individual loan’s loss potential does not have to be distinct for the asset to be rated substandard. Salus scores these loans as either 7 or 8 depending on the accrual status; and | |
• | Doubtful - Loans that have all the weaknesses inherent in those classified as Substandard with the added characteristic that the weaknesses make collection or liquidation in full improbable based on currently existing facts, conditions, and values. Salus scores these loans as either a 9 or 10. | |
Derivative Financial Instruments | ' | |
Derivative Financial Instruments | ||
Consumer Products | ||
Derivative financial instruments are used by the Company’s Consumer Products segment principally in the management of its interest rate, foreign currency exchange rate and raw material price exposures. When hedge accounting is elected at inception, the Company formally designates the financial instrument as a hedge of a specific underlying exposure if such criteria are met, and documents both the risk management objectives and strategies for undertaking the hedge. The Company formally assesses, both at the inception and at least quarterly thereafter, whether the financial instruments that are used in hedging transactions are effective at offsetting changes in the forecasted cash flows of the related underlying exposure. Because of the high degree of effectiveness between the hedging instrument and the underlying exposure being hedged, fluctuations in the value of the derivative instruments are generally offset by changes in the forecasted cash flows of the underlying exposures being hedged. Any ineffective portion of a financial instrument’s change in fair value is immediately recognized in earnings. For derivatives that are not designated as cash flow hedges, or do not qualify for hedge accounting treatment, the change in the fair value is also immediately recognized in earnings. | ||
Insurance | ||
The Company’s insurance segment hedges certain portions of its exposure to product related equity market risk by entering into derivative transactions. All of such derivative instruments are recognized as either assets or liabilities in the accompanying Consolidated Balance Sheets at fair value. The change in fair value is recognized within “Net investment gains” in the accompanying Consolidated Statements of Operations. | ||
FGL purchases financial instruments and issues products that may contain embedded derivative instruments. If it is determined that the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host contract for measurement purposes. The embedded derivative is carried at fair value with changes in fair value reported in the accompanying Consolidated Statements of Operations. | ||
Compass | ||
Compass manages certain portions of its exposure to commodity price fluctuations by entering into derivative transactions. All of such derivative instruments are recognized as either assets or liabilities in the accompanying Consolidated Balance Sheets at fair value. Compass does not designate its derivative financial instruments as hedging instruments for financial reporting purposes and, as a result, recognizes the change in the respective instruments’ fair value “Other expense, net” in the accompanying Consolidated Statements of Operations. | ||
Corporate and Other | ||
Prior to exercising its option to convert substantially all of its outstanding Preferred Stock on May 15, 2014, such outstanding Preferred Stock contained a conversion feature (see Note 1, Basis of Presentation and Nature of Operations and Note 16, Temporary Equity). If the Company were to have issued certain equity securities at a price lower than the conversion price of the respective Preferred Stock, the conversion price would have been adjusted downward to reflect the dilutive effect of the newly issued securities (a “down round” provision). In accordance with the guidance in ASC Topic 815, “Derivatives and Hedging,” the conversion feature was considered to be an embedded derivative that must be separately accounted for as a liability at fair value with any changes in fair value reported in current earnings. The embedded derivative was bifurcated from the host contracts as of the respective issuance dates, marked to fair value and included in “Equity conversion feature of preferred stock” in the accompanying Consolidated Balance Sheets with the change in fair value shown separately in the Consolidated Statements of Operations. The Company valued the conversion feature using the Monte Carlo simulation approach, as discussed further in Note 9, Fair Value of Financial Instruments. | ||
Displays and Fixtures | ' | |
Displays and Fixtures | ||
Temporary displays are generally disposable cardboard displays shipped to customers to facilitate display of the Company’s products. Temporary displays are generally disposed of after a single use by the customer. | ||
Permanent fixtures are more permanent in nature, are generally made from wire or other longer-lived materials, and are shipped to customers for use in displaying the Company’s products. These permanent fixtures are restocked with the Company’s product multiple times over the fixture’s useful life. | ||
The costs of both temporary and permanent displays are capitalized as a prepaid asset until shipped to the customer and are included in “Other assets” in the accompanying Consolidated Balance Sheets. The costs of temporary displays are expensed in the period in which they are shipped to customers and the costs of permanent fixtures are amortized over an estimated useful life of one to two years from the date they are shipped to customers and are reflected in “Other assets” in the accompanying Consolidated Balance Sheets. | ||
Inventories | ' | |
Inventories | ||
The Company’s inventories are valued at the lower of cost or net realizable value. Cost of inventories is determined using the first-in, first-out (“FIFO”) method. | ||
Properties | ' | |
Properties | ||
Properties are recorded at cost or at fair value if acquired in a purchase business combination. Depreciation on plant and equipment is calculated on the straight-line method over the estimated useful lives of the assets. Building and improvements depreciable lives are 20-40 years and machinery, equipment and other depreciable lives are 2-15 years. Properties held under capitalized leases are amortized on a straight-line basis over the shorter of the lease term or estimated useful life of the asset and is included in depreciation expense. | ||
The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates recoverability of assets to be held and used by comparing the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. | ||
Oil and natural gas properties | ' | |
Oil and natural gas properties | ||
Full Cost Method | ||
The accounting for, and disclosure of, oil and natural gas producing activities require that Compass choose between two GAAP alternatives; the full cost method or the successful efforts method. Compass elected to use the full cost method of accounting, which involves capitalizing all intangible drilling costs, lease and well equipment and exploration and development costs incurred plus acquired proved and unproved leaseholds. Once Compass incurs costs, they are recorded in the depletable pool of proved properties or in unproved properties, collectively, the full cost pool. Compass’ unproved property costs, which include unproved oil and natural gas properties, properties under development, and major development projects, collectively totaled $20.2 and $36.4 as of September 30, 2014 and 2013, respectively, and are not subject to depletion. Compass expects these costs to be evaluated over approximately four years and transferred to the depletable portion of the full cost pool during that time. Compass reviews its unproved oil and natural gas property costs on a quarterly basis to assess for impairment and transfer unproved costs to proved properties as a result of extensions or discoveries from drilling operations or determine that no proved reserves are attributable to such costs. Compass evaluated these properties based on recent drilling results and impaired approximately $6.1 and $10.3 of undeveloped properties which were transferred to the depletable portion of the full cost pool during Fiscal 2014 and the period from inception to September 30, 2013, respectively. The impairment was recorded to reflect the estimated fair value based on Compass' evaluation of potential oil and natural gas reserves from these properties. | ||
Capitalization of Interest | ||
Compass capitalizes interest on costs related to the acquisition of undeveloped acreage in accordance with FASB ASC Subtopic 835-20, Capitalization of Interest. When the unproved property costs are moved to proved developed and undeveloped oil and natural gas properties, or the properties are sold, we cease capitalizing interest related to those properties. Compass capitalizes the portion of general and administrative costs that is attributable to our exploration, exploitation and development activities. | ||
We calculate depletion using the unit-of-production method. Under this method, the sum of the full cost pool, excluding the book value of unproved properties, and all estimated future development costs less estimated salvage value are divided by the total estimated quantities of proved reserves. This rate is applied to our total production for the quarter, and the appropriate expense is recorded | ||
Depletion | ||
Compass calculates depletion using the unit-of-production method. Under this method, the sum of the full cost pool, excluding the book value of unproved properties, and all estimated future development costs less estimated salvage value are divided by the total estimated quantities of proved reserves. This rate is applied to Compass’ total production for the quarter, and the appropriate expense is recorded. | ||
Sales, dispositions and other oil and natural gas property retirements are accounted for as adjustments to the full cost pool, with no recognition of gain or loss, unless the disposition would significantly alter the amortization rate and/or the relationship between capitalized costs and proved reserves. | ||
Ceiling Test and impairment of proved oil and natural gas properties | ||
Pursuant to Rule 4-10(c)(4) of Regulation S-X, Compass was required to compute a limitation on costs capitalized pursuant to their use of the full cost method of accounting for their oil and natural gas properties (the “ceiling test”), using the simple average spot price for the trailing twelve month period for oil and natural gas as of September 30, 2014 and 2013. The ceiling test compares the net book value of the full cost pool, after taxes, to the full cost ceiling limitation defined below. In the event the full cost ceiling limitation is less than the full cost pool, Compass is required to record a ceiling test impairment of Compass’ oil and natural gas properties. The full cost ceiling limitation is computed as the sum of the present value of estimated future net revenues from Compass’ proved reserves by applying the average price as prescribed by the SEC Release No. 33-8995, less estimated future expenditures (based on current costs) to develop and produce the proved reserves, discounted at 10%, plus the cost of properties not being amortized and the lower of cost or estimated fair value of unproved properties included in the costs being amortized, net of income tax effects. | ||
The ceiling test is computed using the simple average spot price for the trailing 12 month period using the first day of each month. For Fiscal 2014, the trailing 12 month reference prices were $4.24 per Mmbtu for natural gas at Henry Hub, and $99.08 per Bbl of oil for West Texas Intermediate at Cushing, Oklahoma. The price used for natural gas liquids was $43.58 per Bbl and was based on the trailing 12 month average of realized prices. Each of the reference prices for oil and natural gas are further adjusted for quality factors and regional differentials to derive estimated future net revenues. Under full cost accounting rules, any ceiling test impairments of oil and natural gas properties may not be reversed in subsequent periods. Since Compass does not designate its derivative financial instruments as hedging instruments, Compass is not allowed to use the impacts of the derivative financial instruments in the ceiling test computations. The ceiling test limitation exceeded the net book value of the full cost pool as of September 30, 2014. | ||
Compass previously requested and received an exemption from the SEC to exclude the acquisition of Compass’ unamortized oil and natural gas properties from the ceiling test for a period of one year following the acquisition date. Such exemption expired during the interim period ended March 31, 2014 and the Company’s portion of Compass recognized impairments of $81.0 to its proved oil and natural gas properties. The impairments primarily resulted from differences in the oil and natural gas prices utilized in the purchase price allocation at the acquisition date and the prices used in the ceiling test calculation. | ||
The pricing utilized in the purchase price allocation as of the acquisition date was based on models which incorporate, among other things, market prices based on New York Mercantile Exchange (“NYMEX”) futures as of the acquisition date. Compass’ expectation of future prices is principally based on NYMEX futures contracts adjusted for basis differentials. Compass believes the NYMEX futures contracts reflect an independent proxy for fair value. The ceiling test requires companies to price period ending proved reserves using the simple average spot price for the trailing twelve month period, which may not be indicative of actual market values. Given the short passage of time between closing of these acquisitions and the required ceiling test computation, Compass requested, and received an exemption from the SEC to exclude the acquisition of these oil and gas properties from the ceiling test assessments for a period of twelve months following the corresponding acquisition dates. | ||
During the ceiling test exemption period, Compass assessed the properties for potential impairment due to an other than temporary trend that would negatively impact the fair value. Compass evaluated these properties for impairment using discounted cash flow models based on internally generated oil and natural gas reserves as of September 30, 2013. The pricing utilized in these models was based on NYMEX futures in a manner consistent with the aforementioned pricing for acquisitions. As a result of this evaluation, the Company’s portion of Compass recognized an impairment of $54.3 to proved oil and natural gas properties based on the excess of unamortized costs over the fair value of September 30, 2013. The impairment was primarily the result of downward revisions in the oil and natural gas reserves due to previous drilling results, modifications to our development plans, and a decline in natural gas prices. The fair value measurements utilized as part of the impairment calculation included significant unobservable inputs that are considered to be Level 3 within the fair value hierarchy. These unobservable inputs include Compass’ estimates of reserve quantities, commodity prices, operating costs, development costs, discount factors and other risk factors applied to the future cash flows. | ||
The ceiling test calculation and impairment evaluation are based upon estimates of proved reserves. There are numerous uncertainties inherent in estimating quantities of proved reserves, in projecting the future rates of production and in the timing of development activities. The accuracy of any reserve estimate is a function of the quality of available data and of engineering and geological interpretation and judgment. Results of drilling, testing and production subsequent to the date of the estimate may justify revision of such estimate. Accordingly, reserve estimates are often different from the quantities of oil and natural gas that are ultimately recovered. | ||
Gas gathering assets | ||
Gas gathering assets are capitalized at cost and depreciated on a straight line basis over their estimated useful lives of up to fourteen years. | ||
Deferred abandonment and asset retirement obligations | ' | |
Deferred abandonment and asset retirement obligations | ||
Compass applies FASB ASC 410-20, Asset Retirement and Environmental Obligations (“ASC 410-20”), to account for estimated future plugging and abandonment costs. ASC 410-20 requires legal obligations associated with the retirement of long-lived assets to be recognized at their estimated fair value at the time that the obligations are incurred. Upon initial recognition of a liability, that cost is capitalized as part of the related long-lived asset and allocated to expense over the useful life of the asset. Compass’ asset retirement obligations primarily represent the present value of the estimated amount it will incur to plug, abandon and remediate proved producing properties at the end of their productive lives, in accordance with applicable state laws. | ||
Compass’ asset retirement obligations are determined using discounted cash flow methodologies based on inputs that are not readily available in public markets. Compass has no assets that are legally restricted for purposes of settling asset retirement obligations. | ||
Goodwill and Intangibles | ' | |
Goodwill | ||
The excess of the fair value of the consideration transferred in a business combination over the fair value of net assets acquired (goodwill) is not amortized. Goodwill is tested for impairment at least annually, at the reporting unit level. If impairment is indicated, a write-down to fair value (normally measured by discounting estimated future cash flows) is recorded. In accordance with ASC Topic 350, “Intangibles-Goodwill and Other,” (“ASC 350”), the Company conducts impairment testing on its goodwill annually, as of the August financial period end. The Company first assesses qualitative factors, as described in ASC 350, to determine whether it is necessary to perform the two-step goodwill impairment test. If determined to be necessary, the two-step impairment test is used to identify potential goodwill impairment and measure the amount of a goodwill impairment loss to be recognized (if any). To determine fair value for the two-step goodwill impairment test, during Fiscal 2014, 2013 and 2012, the Company used the discounted estimated future cash flows methodology and third party valuations. Assumptions critical to the Company’s fair value estimates under the discounted estimated future cash flows methodology are: (i) the present value factors used in determining the fair value of the reporting units and trade names; (ii) projected average revenue growth rates used in estimating future cash flows for the reporting unit; and (iii) projected long-term growth rates used in the derivation of terminal year values. These and other assumptions are impacted by economic conditions and expectations of management and will change in the future based on period specific facts and circumstances. | ||
Consumer Products | ||
During Fiscal 2014, 2013 and 2012, the first step of the goodwill impairment test indicated that the fair value of Spectrum Brands’ reporting segments was in excess of their carrying amounts and, accordingly, no further testing for goodwill impairment was required. Spectrum Brands also tested the aggregate estimated fair value of its reporting units for reasonableness by comparison to the total market capitalization of Spectrum Brands, which includes both its equity and debt securities. | ||
The fair values of the global batteries & appliances, hardware & home improvement, global pet supplies and home and garden business reporting units, which are also Spectrum Brands’ segments exceeded their carrying values by 87%, 47%, 80% and 146%, respectively, as of the date of the latest annual impairment testing in Fiscal 2014. | ||
Corporate and Other | ||
In connection with the annual goodwill impairment testing performed for Corporate and Other during Fiscal 2014, the first step of the goodwill impairment test indicated that the fair value of FOH was in excess of its carrying amount and, accordingly, no further testing of goodwill impairment was required. | ||
Intangibles, including deferred acquisition costs and value of business acquired, net | ||
Intangible assets are recorded at cost or at fair value if acquired in a purchase business combination. Customer lists, proprietary technology and certain trade name intangibles are amortized, using the straight-line method, over their estimated useful lives of up to 20 years. | ||
Intangibles with Indefinite Lives | ' | |
Intangibles with Indefinite Lives | ||
Indefinite-lived intangible assets (certain trade name intangibles) are not amortized. Indefinite-lived trade name intangibles are tested for impairment at least annually by comparing the fair value, determined using a relief from royalty methodology, with the carrying value. Any excess of carrying value over fair value is recognized as an impairment loss in income from operations. | ||
In addition, in accordance with ASC 350, as part of the Company’s annual impairment testing, the Company tested its indefinite-lived trade name intangible assets for impairment by comparing the carrying amount of such trade names to their respective fair values. Fair value was determined using a relief from royalty methodology. Assumptions critical to the Company’s fair value estimates under the relief from royalty methodology were: (i) royalty rates; (ii) projected average revenue growth rates; and (iii) applicable discount rates. | ||
Consumer Products | ||
In connection with its annual impairment testing of indefinite-lived intangible assets during Fiscal 2014, 2013 and 2012, Spectrum Brands concluded that the fair values of its intangible assets exceeded their carrying values. Additionally, during Fiscal 2012 Spectrum Brands reclassified $3.5 of certain indefinite lived trade names to definite lived trade names. Those trade names are being amortized over the remaining useful lives, which have been estimated to be 1-3 years. | ||
Corporate and Other | ||
In connection with its annual impairment testing of indefinite-lived intangible assets during Fiscal 2014 FOH concluded that the fair values of its intangible assets exceeded their carrying values. | ||
Intangibles with Definite or Estimable Useful Lives | ' | |
Intangibles with Definite or Estimable Useful Lives | ||
The Company assesses the recoverability of intangible assets with definite or estimable useful lives whenever an event or circumstance occurs that indicates an impairment loss may have been incurred. The Company assesses the recoverability of these intangible assets by determining whether their carrying value can be recovered through projected undiscounted future cash flows. If projected undiscounted future cash flows indicate that the carrying value of the assets will not be recovered, an adjustment would be made to reduce the carrying value to an amount equal to estimated fair value determined based on projected future cash flows discounted at the Company’s incremental borrowing rate. The cash flow projections used in estimating fair value are based on historical performance and management’s estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions. | ||
Impairment reviews are conducted at the judgment of management when it believes that a change in circumstances in the business or external factors warrants a review. Circumstances such as the discontinuation of a product or product line, a sudden or consistent decline in the sales forecast for a product, changes in technology or in the way an asset is being used, a history of operating or cash flow losses, or an adverse change in legal factors or in the business climate, among others, may trigger an impairment review. | ||
Insurance | ' | |
Insurance | ||
The Company’s intangible assets include value of business acquired (“VOBA”), deferred acquisition cost (“DAC”) and deferred sales inducements (“DSI”). | ||
VOBA is an intangible asset that reflects the estimated fair value of in-force contracts in a life insurance company acquisition less the amount recorded as insurance contract liabilities. It represents the portion of the purchase price that is allocated to the value of the rights to receive future cash flows from the business in force at the acquisition date. DAC represents costs that are related directly to new or renewal insurance contracts, which may be deferred to the extent recoverable. These costs include incremental direct costs of contract acquisition, primarily commissions, as well as certain costs related directly to underwriting, policy issuance and processing. DSI represents up front bonus credits and vesting bonuses to policyholder account values, which are accounted for similarly to DAC and are recorded within the DAC asset balance. | ||
The methodology for determining the amortization of DAC and VOBA varies by product type. For all insurance contracts accounted for under long-duration contract deposit accounting, amortization is based on assumptions consistent with those used in the development of the underlying contract adjusted for emerging experience and expected trends. DAC and VOBA amortization are reported within “Amortization of intangibles” in the accompanying Consolidated Statements of Operations. | ||
DAC and VOBA for indexed universal life (“IUL”) and investment-type products are generally amortized over the lives of the policies in relation to the incidence of estimated gross profits (“EGPs”) from investment income, surrender charges and other product fees, policy benefits, maintenance expenses, mortality net of reinsurance ceded and expense margins, and recognized gains (losses) on investments and changes in fair value of the coinsurance embedded derivative. | ||
Changes in assumptions can have a significant impact on VOBA and DAC balances and amortization rates. Due to the relative size and sensitivity to minor changes in underlying assumptions of VOBA and DAC balances, FGL performs quarterly and annual analyses of VOBA and DAC for the annuity and indexed universal life businesses. The VOBA and DAC balances are also periodically evaluated for recoverability to ensure that the unamortized portion does not exceed the expected recoverable amounts. At each evaluation date, actual historical gross profits are reflected, and estimated future gross profits and related assumptions are evaluated for continued reasonableness. Any adjustment in estimated future gross profits requires that the amortization rate be revised (“unlocking”) retroactively to the date of the policy or contract issuance. The cumulative unlocking adjustment is recognized as a component of current period amortization. | ||
The carrying amounts of VOBA and DAC are adjusted for the effects of realized and unrealized gains and losses on debt securities classified as available-for-sale and certain derivatives and embedded derivatives. Amortization expense of VOBA and DAC reflects an assumption for an expected level of credit-related investment losses. When actual credit-related investment losses are realized, FGL performs a retrospective unlocking of VOBA and DAC amortization as actual margins vary from expected margins. This unlocking is reflected in the accompanying Consolidated Statements of Operations. | ||
For investment-type products, the VOBA and DAC assets are adjusted for the impact of unrealized gains (losses) on investments as if these gains (losses) had been realized, with corresponding credits or charges included in AOCI. | ||
Reinsurance | ' | |
Reinsurance | ||
FGL’s insurance subsidiaries enter into reinsurance agreements with other companies in the normal course of business. The assets, liabilities, premiums and benefits of certain reinsurance contracts are presented on a net basis in the accompanying Consolidated Balance Sheets and Consolidated Statements of Operations, respectively, when there is a right of offset explicit in the reinsurance agreements. All other reinsurance agreements are reported on a gross basis in the Company’s Consolidated Balance Sheets as an asset for amounts recoverable from reinsurers or as a component of other liabilities for amounts, such as premiums, owed to the reinsurers, with the exception of amounts for which the right of offset also exists. Premiums and benefits are reported net of insurance ceded. | ||
Debt Issuance Costs | ' | |
Debt Issuance Costs | ||
Debt issuance costs, which are capitalized within “Other assets,” and original issue discount, net of any premiums, on debt are amortized to interest expense using the effective interest method over the lives of the related debt agreements. | ||
Accounts Payable | ' | |
Accounts Payable | ||
Included in accounts payable are book overdrafts, net of deposits on hand, on disbursement accounts that are replenished when checks are presented for payment. | ||
Income Taxes | ' | |
Income Taxes | ||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company has the ability and intent to recover in a tax-free manner assets (or liabilities) with book/tax basis differences for which no deferred taxes have been provided, in accordance with ASC Topic 740, “Income Taxes.” Accordingly, the Company did not provide deferred income taxes on the gain on contingent purchase price reduction of $41.0 in Fiscal 2012. | ||
The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that has a greater than 50% likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Accrued interest expense and penalties related to uncertain tax positions are recorded in “Income tax expense (benefit)” in the Company’s Consolidated Statements of Operations. | ||
Contractholder Funds and Future Policy Benefits | ' | |
Contractholder Funds and Future Policy Benefits | ||
The liabilities for contractholder funds for deferred annuities, IUL and universal life (“UL”) policies consist of contract account balances that accrue to the benefit of the contractholders, excluding surrender charges and other liabilities. The liabilities for Fixed Index Annuities (“FIA”) consist of the value of the host contract plus the value of the embedded derivative. The embedded derivative is carried at fair value in “Contractholder funds” in the accompanying Consolidated Balance Sheets with changes in fair value reported in the accompanying Consolidated Statements of Operations. Liabilities for immediate annuities without life contingencies are the present value of future benefits. | ||
Liabilities for the secondary guarantees on UL-type products or Investment-type contracts are calculated by multiplying the benefit ratio by the cumulative assessments recorded from contract inception through the balance sheet date less the cumulative secondary guarantee benefit payments plus interest. If experience or assumption changes result in a new benefit ratio, the reserves are adjusted to reflect the changes in a manner similar to the unlocking of DAC and VOBA. The accounting for secondary guarantee benefits impacts, and is impacted by, EGPs used to calculate amortization of DAC and VOBA. | ||
The liabilities for future policy benefits and claim reserves for traditional life policies and life contingent pay-out annuity policies are computed using assumptions for investment yields, mortality and withdrawals based principally on generally accepted actuarial methods and assumptions at the time of contract issue. Investment yield assumptions for traditional direct life reserves for all contracts range from 5.8% to 6.2%. The investment yield assumptions for life contingent pay-out annuities range from 0.8% to 6.0%. | ||
Federal Home Loan Bank of Atlanta Agreements | ||
Contractholder funds include funds related to funding agreements that have been issued to the Federal Home Loan Bank of Atlanta (“FHLB”) as a funding medium for single premium funding agreements issued by FGL to the FHLB. | ||
Funding agreements were issued to the FHLB in 2003, 2004, 2005, 2011 and 2012. The funding agreements (i.e., immediate annuity contracts without life contingencies) provide a guaranteed stream of payments. Single premiums were received at the initiation of the funding agreements and were in the form of advances from the FHLB. Payments under the funding agreements extend through 2022. The reserves for the funding agreements totaled $525.8 and $554.9 at September 30, 2014 and 2013, respectively, and are included in “Contractholder funds” in the accompanying Consolidated Balance Sheets. | ||
In accordance with the agreements, the investments supporting the funding agreement liabilities are pledged as collateral to secure the FHLB funding agreement liabilities. The collateral investments had a fair value of $573.2 and $604.9 at September 30, 2014 and 2013, respectively. | ||
Foreign Currency Translation | ' | |
Foreign Currency Translation | ||
Local currencies are considered the functional currencies for most of the Company’s operations outside the United States (“U.S”). Assets and liabilities of the Company’s foreign subsidiaries are translated at the rate of exchange existing at year-end, with revenues, expenses, and cash flows translated at the average of the monthly exchange rates. Adjustments resulting from translation of the financial statements are recorded as a component of AOCI. Also included in AOCI are the effects of exchange rate changes on intercompany balances of a long-term nature. | ||
As of September 30, 2014 and 2013, accumulated losses related to foreign currency translation adjustments of $23.2 and $4.1 (net of taxes and non-controlling interest), respectively, were reflected in the accompanying Consolidated Balance Sheets in AOCI. | ||
Foreign currency transaction gains and losses related to assets and liabilities that are denominated in a currency other than the functional currency are reported in the Consolidated Statements of Operations in the period they occur. Exchange losses on foreign currency transactions aggregating $11.6, $9.4 and $1.7 for Fiscal 2014, 2013 and 2012, respectively, are included in “Other expense, net” in the accompanying Consolidated Statements of Operations. | ||
Revenue Recognition | ' | |
Revenue Recognition | ||
Net Consumer and Other Product Sales | ||
The Company recognizes revenue from product sales generally upon delivery to the customer or the shipping point in situations where the customer picks up the product or where delivery terms so stipulate. This represents the point at which title and all risks and rewards of ownership of the product are passed, provided that: there are no uncertainties regarding customer acceptance; there is persuasive evidence that an arrangement exists; the price to the buyer is fixed or determinable; and collectibility is deemed reasonably assured. The Company is generally not obligated to allow for, and it’s general policy is not to accept, product returns for battery sales. The Company does accept returns in specific instances related to its shaving, grooming, personal care, home and garden, small appliances and pet products. The provision for customer returns is based on historical sales and returns and other relevant information. The Company estimates and accrues the cost of returns, which are treated as a reduction of “Net consumer and other product sales.” | ||
The Company enters into various promotional arrangements, primarily with retail customers, including arrangements entitling such retailers to cash rebates from the Company based on the level of their purchases, which require the Company to estimate and accrue the estimated costs of the promotional programs. These costs are treated as a reduction of “Net consumer and other product sales.” | ||
The Company also enters into promotional arrangements that target the ultimate consumer. The costs associated with such arrangements are treated as either a reduction of “Net consumer and other product sales” or an increase of “Cost of consumer products and other goods sold,” based on the type of promotional program. The income statement presentation of the Company’s promotional arrangements complies with ASC Topic 605, “Revenue Recognition.” For all types of promotional arrangements and programs, the Company monitors its commitments and uses various measures, including past experience, to determine amounts to be recorded for the estimate of the earned, but unpaid, promotional costs. The terms of the Company’s customer-related promotional arrangements and programs are tailored to each customer and are documented through written contracts, correspondence or other communications with the individual customers. | ||
The Company also enters into various arrangements, primarily with retail customers, which require the Company to make upfront cash, or “slotting” payments, in order to secure the right to distribute through such customers. The Company capitalizes slotting payments; provided the payments are supported by a time or volume based arrangement with the retailer, and amortizes the associated payment over the appropriate time or volume based term of the arrangement. The amortization of slotting payments is treated as a reduction of “Net consumer and other product sales” and a corresponding asset is reported in “Other assets” in the accompanying Consolidated Balance Sheets. | ||
Insurance Premiums | ||
FGL’s insurance premiums for traditional life insurance products are recognized as revenue when due from the contractholder. FGL’s traditional life insurance products include those products with fixed and guaranteed premiums and benefits and consist primarily of term life insurance and certain annuities with life contingencies. | ||
Premium collections for fixed indexed and fixed rate annuities, IUL policies and immediate annuities without life contingency are reported as deposit liabilities (i.e., contractholder funds) instead of as revenues. Similarly, cash payments to policyholders are reported as decreases in the liability for contractholder funds and not as expenses. Sources of revenues for products accounted for as deposit liabilities are net investment income, surrender and other charges deducted from contractholder funds, and net recognized gains (losses) on investments. | ||
Net Investment Income | ||
Dividends and interest income of FGL, Front Street and Salus, recorded in “Net investment income,” are recognized when earned. Amortization of premiums and accretion of discounts on investments in fixed maturity securities are reflected in “Net investment income” over the contractual terms of the investments in a manner that produces a constant effective yield. | ||
For mortgage-backed securities, included in the fixed maturity available-for-sale securities portfolios, FGL recognizes income using a constant effective yield based on anticipated prepayments and the estimated economic life of the securities. When actual prepayments differ significantly from originally anticipated prepayments, the effective yield is recalculated prospectively to reflect actual payments to date plus anticipated future payments. Any adjustments resulting from changes in effective yield are reflected in “Net investment income.” | ||
Net Investment Gains (Losses) | ||
Net investment gains include realized gains and losses from the sale of investments, write-downs for other-than-temporary impairments of available-for-sale investments, and gains and losses on derivative investments. For the insurance segment, realized gains and losses on the sale of investments are determined using the specific identification method. | ||
Product Fees | ||
Product fee revenue from indexed universal life insurance products and deferred annuities is comprised of policy and contract fees charged for the cost of insurance policy administration and rider fees that are assessed on a monthly basis, and recognized as revenue when assessed and earned. Product fee revenue also includes surrender charges which are recognized and collected when the policy is surrendered. | ||
Oil and natural gas revenues | ||
Compass uses the sales method of accounting for oil and natural gas revenues. Under the sales method, revenues are recognized based on actual volumes of oil and natural gas sold to purchasers. Gas imbalances at September 30, 2014 were not significant. | ||
Shipping and Handling Costs | ' | |
Shipping and Handling Costs | ||
Shipping and handling costs, which are included in “Selling, acquisition, operating and general expenses” in the accompanying Consolidated Statements of Operations, include costs incurred with third-party carriers to transport products to customers and salaries and overhead costs related to activities to prepare the Company’s products for shipment at the Company’s distribution facilities. The Company incurred shipping and handling costs of $260.3, $246.1 and $198.2 during Fiscal 2014, 2013 and 2012, respectively. | ||
Advertising Costs | ' | |
Advertising Costs | ||
Advertising costs, which are included in “Selling, acquisition, operating and general expenses” in the accompanying Consolidated Statements of Operations, include agency fees and other costs to create advertisements, as well as costs paid to third parties to print or broadcast the Company’s advertisements. The Company incurred advertising costs of $21.5, $23.0 and $20.7 during Fiscal 2014, 2013 and 2012, respectively. | ||
Research and Development Costs | ' | |
Research and Development Costs | ||
Research and development costs are charged to “Selling, acquisition, operating and general expenses” in the period they are incurred. The Company incurred research and development costs of $47.9, $43.3 and $33.1 during Fiscal 2014, 2013 and 2012, respectively. | ||
Environmental Expenditures | ' | |
Environmental Expenditures | ||
Environmental expenditures that relate to current ongoing operations or to conditions caused by past operations are expensed or capitalized as appropriate. The Company determines its liability for environmental matters on a site-by-site basis and records a liability at the time when it is probable that a liability has been incurred and such liability can be reasonably estimated. The estimated liability is not reduced for possible recoveries from insurance carriers. Estimated environmental remediation expenditures are included in the determination of the net realizable value recorded for assets held for sale. | ||
Gathering and transportation | ' | |
Gathering and Transportation | ||
Compass generally sells oil and natural gas under two types of agreements which are common in the industry. Both types of agreements include a transportation charge. One is a net-back arrangement, under which Compass sells oil or natural gas at the wellhead and collects a price, net of the transportation incurred by the purchaser. In this case, Compass records sales at the price received from the purchaser, net of the transportation costs. Under the other arrangement, Compass sells oil or natural gas at a specific delivery point, pays transportation to a third party and receives proceeds from the purchaser with no transportation deduction. In this case, Compass records the transportation cost as gathering and transportation expense. Due to these two distinct selling arrangements, Compass’ computed realized prices, before the impact of derivative financial instruments, includes revenues which are reported under two separate bases. | ||
Overhead reimbursement fees | ' | |
Overhead Reimbursement Fees | ||
Compass has classified fees from overhead charges billed to working interest owners, including itself, as a reduction of general and administrative expenses in the accompanying Consolidated Statements of Operations. Compass’ share of these charges were $7.5 in Fiscal 2014 and $4.3 from inception to the period ended September 30, 2014 and was classified as oil and natural gas production costs. | ||
Comprehensive Income (Loss) | ' | |
Comprehensive Income (Loss) | ||
Comprehensive income (loss) includes foreign currency translation gains and losses on assets and liabilities of foreign subsidiaries, effects of exchange rate changes on intercompany balances of a long-term nature and transactions designated as a hedge of a net investment in a foreign subsidiary, deferred gains and losses on derivative financial instruments designated as cash flow hedges, actuarial adjustments to pension plans, and unrealized gains (losses) and non-credit related other-than-temporary impairments on investment securities of the insurance segment classified as available-for-sale. Except for gains and losses resulting from exchange rate changes on intercompany balances of a long-term nature, the Company did not provide income taxes on currency translation adjustments prior to Fiscal 2013, as earnings from international subsidiaries were considered to be permanently reinvested. As of the beginning of Fiscal 2013, earnings from international subsidiaries are no longer considered to be permanently reinvested by the Company. Net unrealized gains and losses on investment securities classified as available-for-sale by FGL are reduced by deferred income taxes and adjustments to intangible assets, including VOBA and DAC, that would have resulted had such gains and losses been realized (see Note 13, Goodwill and Intangibles, including DAC and VOBA, net). | ||
Fair Value Measurements | ' | |
Fair Value Measurements | ||
The Company’s measurement of fair value is based on assumptions used by market participants in pricing the asset or liability, which may include inherent risk, restrictions on the sale or use of an asset or non-performance risk, which may include the Company’s own credit risk. The Company’s estimate of an exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability (“exit price”) in the principal market, or the most advantageous market in the absence of a principal market, for that asset or liability, as opposed to the price that would be paid to acquire the asset or receive a liability (“entry price”). The Company categorizes financial instruments carried at fair value into a three-level fair value hierarchy, based on the priority of inputs to the respective valuation technique. The three-level hierarchy for fair value measurement is defined as follows: | ||
Level 1 — Values are unadjusted quoted prices for identical assets and liabilities in active markets accessible at the measurement date. | ||
Level 2 — Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices from those willing to trade in markets that are not active, or other inputs that are observable or can be corroborated by market data for the term of the instrument. Such inputs include market interest rates and volatilities, spreads and yield curves. | ||
Level 3 — Certain inputs are unobservable (supported by little or no market activity) and significant to the fair value measurement. Unobservable inputs reflect the Company’s best estimate of what hypothetical market participants would use to determine a transaction price for the asset or liability at the reporting date based on the best information available in the circumstances. | ||
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lower level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment. | ||
When a determination is made to classify an asset or liability within Level 3 of the fair value hierarchy, the determination is based upon the significance of the unobservable inputs to the overall fair value measurement. Because certain securities trade in less liquid or illiquid markets with limited or no pricing information, the determination of fair value for these securities is inherently more difficult. However, Level 3 fair value investments may include, in addition to the unobservable or Level 3 inputs, observable components, which are components that are actively quoted or can be validated to market-based sources. | ||
Restructuring and Related Charges | ' | |
Restructuring and Related Charges | ||
Restructuring charges are recognized and measured in accordance with the provisions of ASC Topic 420: “Exit or Disposal Cost Obligations,” (“ASC 420”) and ASC Topic 712: “Compensation - Nonretirement Post-Employment Benefits,” (ASC 712”). Under ASC 420 and ASC 712, restructuring charges include, but are not limited to, termination and related costs consisting primarily of one-time termination benefits such as severance costs and retention bonuses, and contract termination costs consisting primarily of lease termination costs. Related charges, as defined by the Company, include, but are not limited to, other costs directly associated with exit and integration activities, including impairment of property and other assets, departmental costs of full-time incremental integration employees, and any other items related to the exit or integration activities. Costs for such activities are estimated by management after evaluating detailed analyses of the costs to be incurred. The Company presents restructuring and related charges on a combined basis. | ||
Liabilities from restructuring and related charges are recorded for estimated costs of facility closures, significant organizational adjustments and measures undertaken by management to exit certain activities. Costs for such activities are estimated by management after evaluating detailed analyses of the costs to be incurred. Such liabilities could include amounts for items such as severance costs and related benefits (including settlements of pension plans), impairment of property and equipment and other current or long term assets, lease termination payments and any other items directly related to the exit activities. While the actions are carried out as expeditiously as possible, restructuring and related charges are estimates. Changes in estimates resulting in an increase to or a reversal of a previously recorded liability may be required as management executes a restructuring plan. | ||
The Company reports restructuring and related charges associated with manufacturing and related initiatives in cost of goods sold. Restructuring and related charges reflected in cost of goods sold include, but are not limited to, termination and related costs associated with manufacturing employees, asset impairments relating to manufacturing initiatives and other costs directly related to the restructuring initiatives implemented. | ||
The Company reports restructuring and related charges associated with administrative functions in operating expenses, such as initiatives impacting sales, marketing, distribution or other non-manufacturing related functions. Restructuring and related charges reflected in operating expenses include, but are not limited to, termination and related costs, any asset impairments relating to the administrative functions and other costs directly related to the initiatives implemented. | ||
Restructuring and related charges are reflected in “Cost of consumer products and other goods sold” and “Selling, acquisition, operating and general expenses” as applicable (see Note 22, Restructuring and Related Charges). | ||
Restructuring and Related Charges | ' | |
Benefits and Other Changes in Policy Reserves | ||
Benefit expenses for deferred annuity, FIA and IUL policies include index credits and interest credited to contractholder account balances and benefit claims incurred during the period in excess of contract account balances. Interest crediting rates associated with funds invested in the general account of FGL’s insurance subsidiaries during 2012 through 2014 ranged from 0.0% to 6.0% for deferred annuities and FIAs, combined and 0.0% to 5.5% for IULs. Other changes in policy reserves include the change in the fair value of the FIA embedded derivative and the change in the reserve for secondary guarantee benefit payments. | ||
Other changes in policy reserves also include the change in reserves for life insurance products. For traditional life and immediate annuities, policy benefit claims are charged to expense in the period that the claims are incurred. | ||
Interest Expense, Policy [Policy Text Block] | ' | |
Interest Expense | ||
Interest expense on the Company’s short-term and long-term debt is recognized as due and any associated premiums, discounts, and costs are amortized (accreted) over the term of the related borrowing utilizing the effective interest method. Interest expense also includes fees on the Company’s credit facilities. | ||
Earnings Per Share, Policy [Policy Text Block] | ' | |
Earnings Per Share (“EPS”) | ||
The Company computes net income (loss) per common share in accordance with ASC Topic 260, “Earnings per Share,” which requires companies with complex capital structures, such as having two (or more) classes of securities that participate in declared dividends to calculate earnings (loss) per share utilizing the two-class method. As the holders of the Preferred Stock are entitled to receive dividends with common stock on an as-converted basis, the Preferred Stock has the right to participate in undistributed earnings and must therefore be considered under the two-class method. | ||
Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average shares outstanding for the period. Diluted net income (loss) per share is calculated in the same manner, but shares outstanding are adjusted to reflect the potential dilution that would occur if unvested options, warrants, restricted stock units and unvested restricted stock awards were vested and if outstanding preferred stock was converted to common stock. The dilutive effects of such stock-based compensation awards are calculated using the treasury stock method. In periods where losses are recorded, inclusion of potentially dilutive securities in the calculation would decrease the loss per common share and therefore they are not added to the weighted average number of shares outstanding due to their anti-dilutive effect. | ||
Reclassifications and Retrospective Adjustments | ' | |
Reclassifications and Retrospective Adjustments | ||
Certain prior year amounts have been reclassified or combined to conform to the current year presentation. These reclassifications and combinations had no effect on previously reported results of operations or accumulated deficit. | ||
Change in Accounting Method | ' | |
Recent Accounting Pronouncements | ||
Investments in Qualified Affordable Housing Projects | ||
In January 2014, the FASB issued amended guidance which allows investors in Low Income Housing Tax Credit (“LIHTC”) programs that meet specified conditions to present the net tax benefits (net of the amortization of the cost of the investment) within income tax expense. The cost of the investments that meet the specified conditions will be amortized in proportion to (and over the same period as) the total expected tax benefits, including the tax credits and other tax benefits, as they are realized on the tax return. The guidance is required to be applied retrospectively, if investors elect the proportional amortization method. However, if investors have existing LIHTC investments accounted for under the effective-yield method at adoption, they may continue to apply that method for those existing investments. The new standards will become effective for the Company beginning in the first quarter of its fiscal year ending September 30, 2016. The Company is currently evaluating the impact of this new accounting guidance on its consolidated financial position and results of operations. | ||
Offsetting Assets and Liabilities | ||
In December 2011, the FASB issued amended disclosure requirements for offsetting financial assets and financial liabilities to allow investors to better compare financial statements prepared under GAAP with financial statements prepared under International Financial Reporting Standards. The new standards are effective for the Company beginning in the first quarter of its fiscal year ending September 30, 2014. ASU 2011-11 Disclosures about Offsetting Assets and Liabilities - was adopted by the Company effective October 1, 2013. The Company does not offset any of its derivative transactions, including bifurcated embedded derivatives, in its statement of financial position. The Company only enters into purchased equity options and long futures contracts. The Company has not entered into any repurchase and reverse repurchase agreements or securities borrowing and lending transactions. Accordingly, no additional disclosures are required. | ||
Presentation of Unrecognized Tax Benefit | ||
In July 2013, the FASB issued ASU 2013-11, “Income taxes (Topic 740): Presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists,” which requires entities to present unrecognized tax benefits as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, except to the extent the net operating loss carryforwards or tax credit carryforwards are not available to be used at the reporting date to settle additional income taxes, and the entity does not intend to use them for this purpose. The new accounting guidance is consistent with how the Company has historically accounted for unrecognized tax benefits in its Consolidated Statements of Financial Position; therefore, the Company does not expect the adoption of this guidance to have a significant impact on its consolidated financial statements. | ||
Revenue from Contracts with Customers | ||
In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. This ASU requires revenue recognition to depict the transfer of 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. The new revenue recognition model requires identifying the contract, identifying the performance obligations, determining the transaction price, allocating the transaction price to performance obligations and recognizing the revenue upon satisfaction of performance obligations. This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. This ASU can be applied either retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the update recognized at the date of the initial application along with additional disclosures. This ASU will become effective for the Company beginning in the first quarter of its fiscal year ending September 30, 2018. The Company has not selected a method for adoption, nor determined the potential effects on our consolidated financial statements. |
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||
Components of net deferred tax assets | ' | |||||||||||||||
The following table summarizes the components of deferred income tax assets and liabilities: | ||||||||||||||||
September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Current deferred tax assets: | ||||||||||||||||
Employee benefits | $ | 22.9 | $ | 15.4 | ||||||||||||
Restructuring | 6.3 | 7.1 | ||||||||||||||
Inventories and receivables | 25.6 | 24.3 | ||||||||||||||
Employee compensation | 6.4 | 5.4 | ||||||||||||||
Marketing and promotional accruals | 16 | 14.1 | ||||||||||||||
Capitalized transaction costs | — | 0.1 | ||||||||||||||
Unrealized losses on mark-to-market securities | 14.7 | 12.6 | ||||||||||||||
Other | 17.2 | 23.9 | ||||||||||||||
Valuation allowance | (66.1 | ) | (55.0 | ) | ||||||||||||
Total current deferred tax assets | 43 | 47.9 | ||||||||||||||
Current deferred tax liabilities: | ||||||||||||||||
Inventories and receivables | (0.7 | ) | (2.7 | ) | ||||||||||||
Unrealized gains | (1.2 | ) | (0.4 | ) | ||||||||||||
Other | (6.0 | ) | (11.7 | ) | ||||||||||||
Total current deferred tax liabilities | (7.9 | ) | (14.8 | ) | ||||||||||||
Noncurrent deferred tax assets: | ||||||||||||||||
Employee benefits | $ | 61.4 | $ | 49.5 | ||||||||||||
Restructuring and purchase accounting | 0.7 | 0.3 | ||||||||||||||
Net operating loss, credit and capital loss carryforwards | 930.6 | 1,029.50 | ||||||||||||||
Prepaid royalty | 6.6 | 7 | ||||||||||||||
Properties | 9 | 9.7 | ||||||||||||||
Capitalized transaction costs | 0.6 | 0.6 | ||||||||||||||
Unrealized losses on mark-to-market securities | 0.3 | 2.1 | ||||||||||||||
Long-term debt | — | 0.7 | ||||||||||||||
Intangibles | 8.5 | 3.9 | ||||||||||||||
Deferred acquisition costs | 0.4 | 0.4 | ||||||||||||||
Insurance reserves and claim related adjustments | 483.8 | 477.7 | ||||||||||||||
Outside basis differences on partnership interests | 43.8 | 21.3 | ||||||||||||||
Other | 76.6 | 32.8 | ||||||||||||||
Valuation allowance | (712.4 | ) | (762.2 | ) | ||||||||||||
Total noncurrent deferred tax assets | 909.9 | 873.3 | ||||||||||||||
Noncurrent deferred tax liabilities: | ||||||||||||||||
Properties | (22.6 | ) | (27.5 | ) | ||||||||||||
Unrealized gains | (20.0 | ) | (13.1 | ) | ||||||||||||
Intangibles | (744.1 | ) | (735.5 | ) | ||||||||||||
Value of business acquired | (20.8 | ) | (67.3 | ) | ||||||||||||
Deferred acquisition costs | (104.2 | ) | (63.7 | ) | ||||||||||||
Tax on unremitted foreign earnings | (2.6 | ) | (18.6 | ) | ||||||||||||
Investments | (338.3 | ) | (156.5 | ) | ||||||||||||
Funds withheld receivables | (9.7 | ) | — | |||||||||||||
Long-term debt | (10.0 | ) | — | |||||||||||||
Other | (19.3 | ) | (23.4 | ) | ||||||||||||
Total noncurrent deferred tax liabilities | (1,291.6 | ) | (1,105.6 | ) | ||||||||||||
Total gross deferred tax assets | $ | 952.9 | $ | 921.2 | ||||||||||||
Total gross deferred tax liabilities | $ | (1,299.5 | ) | $ | (1,120.4 | ) | ||||||||||
Company's unaudited pro forma results | ' | |||||||||||||||
The following table reflects the Company’s unaudited pro forma results for Fiscal 2013 and 2012 as if the results of the Hardware Acquisition and the acquisition of the Company’s interest in Compass were completed on October 1, 2012 and the results of the HHI Business and Compass had been included for each of the full fiscal periods in 2013 and 2012. | ||||||||||||||||
Fiscal | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Revenues: | ||||||||||||||||
Reported revenues | $ | 5,543.40 | $ | 4,480.70 | ||||||||||||
HHI adjustment | 191.8 | 973.6 | ||||||||||||||
Compass adjustment | 53.7 | 149.3 | ||||||||||||||
Pro forma revenues | $ | 5,788.90 | $ | 5,603.60 | ||||||||||||
Net (loss) income: | ||||||||||||||||
Reported net (loss) income | $ | (69.0 | ) | $ | 110.7 | |||||||||||
HHI adjustment | 4.9 | 76.1 | ||||||||||||||
Compass adjustment | (0.4 | ) | (6.8 | ) | ||||||||||||
Pro forma net (loss) income | $ | (64.5 | ) | $ | 180 | |||||||||||
Basic net (loss) income per common share attributable to controlling interest: | ||||||||||||||||
Reported net (loss) income per common share | $ | (0.67 | ) | $ | 0.15 | |||||||||||
HHI adjustment | 0.04 | 0.55 | ||||||||||||||
Compass adjustment | — | (0.05 | ) | |||||||||||||
Pro forma net (loss) income per common share | $ | (0.63 | ) | $ | 0.65 | |||||||||||
Diluted net (loss) income per common share attributable to controlling interest: | ||||||||||||||||
Reported diluted net (loss) income per common share | $ | (0.67 | ) | $ | 0.15 | |||||||||||
HHI adjustment | 0.04 | 0.54 | ||||||||||||||
Compass adjustment | — | (0.05 | ) | |||||||||||||
Pro forma diluted net (loss) income per common share | $ | (0.63 | ) | $ | 0.64 | |||||||||||
Summary of acquisition and integration related charges incurred | ' | |||||||||||||||
Acquisition and Integration Related Charges | ||||||||||||||||
Acquisition and integration related charges reflected in “Selling, acquisition, operating and general expenses” in the accompanying Consolidated Statements of Operations include, but are not limited to transaction costs such as banking, legal and accounting professional fees directly related to an acquisition or potential acquisition, termination and related costs for transitional and certain other employees, integration related professional fees and other post business combination related expenses. | ||||||||||||||||
The following table summarizes acquisition and integration related charges incurred by the Company for Fiscal 2014, 2013 and 2012: | ||||||||||||||||
Fiscal | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
SB/RH Merger | ||||||||||||||||
Integration costs | $ | 2.4 | $ | 3.5 | $ | 10.2 | ||||||||||
Employee termination charges | — | 0.2 | 3.9 | |||||||||||||
Legal and professional fees | — | — | 1.5 | |||||||||||||
2.4 | 3.7 | 15.6 | ||||||||||||||
HHI Business | ||||||||||||||||
Legal and professional fees | 2.2 | 27.7 | — | |||||||||||||
Integration costs | 8.7 | 8.9 | — | |||||||||||||
Employee termination charges | 0.2 | 0.3 | — | |||||||||||||
11.1 | 36.9 | — | ||||||||||||||
Compass | 0.8 | 9.2 | — | |||||||||||||
CorAmerica | 1.1 | — | — | |||||||||||||
Frederick's of Hollywood | 0.1 | — | — | |||||||||||||
Liquid Fence | 3.5 | — | — | |||||||||||||
FURminator | 0.1 | 2.3 | 7.9 | |||||||||||||
BlackFlag | — | 0.2 | 3.4 | |||||||||||||
Shaser | 0.9 | 4.8 | — | |||||||||||||
Other | 4.4 | 5.3 | 7.9 | |||||||||||||
Total acquisition and integration related charges | $ | 24.4 | $ | 62.4 | $ | 34.8 | ||||||||||
HHI Business | ' | |||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||
Summary of fair value of assets acquired and liabilities assumed | ' | |||||||||||||||
The valuation of the assets acquired and liabilities assumed for the HHI Business, including a reconciliation to the preliminary valuation reported as of December 30, 2012, is as follows: | ||||||||||||||||
HHI Business Preliminary Valuation | TLM Taiwan Preliminary Valuation | |||||||||||||||
December 30, | June 30, | Adjustments/reclassifications | September 30, | |||||||||||||
2012 | 2013 | 2013 | ||||||||||||||
Cash | $ | 17.4 | $ | 0.8 | $ | 5.8 | $ | 24 | ||||||||
Accounts receivable | 104.6 | — | 4 | 108.6 | ||||||||||||
Inventory | 207.2 | 1.1 | 0.1 | 208.4 | ||||||||||||
Prepaid expenses and other | 13.3 | 2.2 | (6.2 | ) | 9.3 | |||||||||||
Property, plant and equipment | 104.5 | 36.8 | (2.9 | ) | 138.4 | |||||||||||
Intangible assets | 470 | 17.1 | 2 | 489.1 | ||||||||||||
Other long-term assets | 3.1 | 0.1 | 4.4 | 7.6 | ||||||||||||
Total assets acquired | 920.1 | 58.1 | 7.2 | 985.4 | ||||||||||||
Accounts payable | 130.1 | — | 8 | 138.1 | ||||||||||||
Deferred tax liability - current | 7.1 | — | 0.1 | 7.2 | ||||||||||||
Accrued liabilities | 37.6 | 0.2 | 5 | 42.8 | ||||||||||||
Deferred tax liability - long-term | 104.7 | 1.9 | 9.8 | 116.4 | ||||||||||||
Other long-term liabilities | 11.2 | 8.1 | 0.4 | 19.7 | ||||||||||||
Total liabilities assumed | 290.7 | 10.2 | 23.3 | 324.2 | ||||||||||||
Total identifiable net assets | 629.4 | 47.9 | (16.1 | ) | 661.2 | |||||||||||
Non-controlling interests | (2.2 | ) | — | (1.7 | ) | (3.9 | ) | |||||||||
Goodwill | 662.1 | 45.6 | 10.1 | 717.8 | ||||||||||||
Total net assets acquired | $ | 1,289.30 | $ | 93.5 | $ | (7.7 | ) | $ | 1,375.10 | |||||||
Shaser Biosciences, Inc. | ' | |||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||
Summary of preliminary consideration | ' | |||||||||||||||
The following table summarizes the consideration paid for Shaser: | ||||||||||||||||
November 8, | ||||||||||||||||
2012 | ||||||||||||||||
Negotiated sales price | $ | 50 | ||||||||||||||
Preliminary working capital adjustment | (0.4 | ) | ||||||||||||||
Final working capital adjustment | 0.1 | |||||||||||||||
Final purchase price | $ | 49.7 | ||||||||||||||
Summary of fair value of assets acquired and liabilities assumed | ' | |||||||||||||||
The fair values recorded for the assets acquired and liabilities assumed for Shaser, including a reconciliation to the preliminary valuation reported as of December 30, 2012 were as follows: | ||||||||||||||||
Preliminary Valuation | ||||||||||||||||
December 30, | Adjustments/reclassifications | September 30, | ||||||||||||||
2012 | 2013 | |||||||||||||||
Cash | $ | 0.9 | $ | — | $ | 0.9 | ||||||||||
Intangible asset | 35.5 | (6.2 | ) | 29.3 | ||||||||||||
Other assets | 2.7 | (2.5 | ) | 0.2 | ||||||||||||
Total assets acquired | 39.1 | (8.7 | ) | 30.4 | ||||||||||||
Total liabilities assumed | 14.4 | (5.6 | ) | 8.8 | ||||||||||||
Total identifiable net assets | 24.7 | (3.1 | ) | 21.6 | ||||||||||||
Non-controlling interest | (39.0 | ) | (0.1 | ) | (39.1 | ) | ||||||||||
Goodwill | 63.9 | 3.3 | 67.2 | |||||||||||||
Total identifiable net assets | $ | 49.6 | $ | 0.1 | $ | 49.7 | ||||||||||
Cotton-Valley Oil and Gas Properties | ' | |||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||
Summary of fair value of assets acquired and liabilities assumed | ' | |||||||||||||||
The following table presents a summary of the fair value of assets acquired and liabilities assumed as part of the acquisition: | ||||||||||||||||
EXCO's Contributed Assets | BG Cotton Valley Assets | |||||||||||||||
14-Feb-13 | 5-Mar-13 | |||||||||||||||
Compass | HGI's Proportionate Interest | Compass | HGI's Proportionate Interest | |||||||||||||
Assets acquired: | ||||||||||||||||
Cash | $ | 0.1 | $ | 0.1 | $ | — | $ | — | ||||||||
Oil and natural gas properties | ||||||||||||||||
Unproved oil and natural gas properties | 65.1 | 48.5 | 7.2 | 5.4 | ||||||||||||
Proved developed and undeveloped oil and natural gas properties | 632.2 | 471 | 130.9 | 97.5 | ||||||||||||
Total oil and natural gas properties | 697.3 | 519.5 | 138.1 | 102.9 | ||||||||||||
Gas gathering and other assets | 32.7 | 24.5 | — | — | ||||||||||||
Liabilities assumed: | ||||||||||||||||
Accounts payable and other current liabilities | (10.8 | ) | (8.0 | ) | — | — | ||||||||||
Other liabilities | (24.8 | ) | (18.5 | ) | (7.4 | ) | (5.5 | ) | ||||||||
Total purchase price | $ | 694.5 | $ | 517.6 | $ | 130.7 | $ | 97.4 | ||||||||
The Liquid Fence Company [Member] | ' | |||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||
Summary of preliminary consideration | ' | |||||||||||||||
The following table summarizes the consideration paid by Spectrum Brands for Liquid Fence: | ||||||||||||||||
January 2, 2014 | ||||||||||||||||
Cash paid to seller at close | $ | 24.8 | ||||||||||||||
Promissory note due to seller | 9.5 | |||||||||||||||
Contingent liability | 1.5 | |||||||||||||||
Preliminary purchase price | $ | 35.8 | ||||||||||||||
Summary of fair value of assets acquired and liabilities assumed | ' | |||||||||||||||
The fair values recorded for the assets acquired and liabilities assumed for Liquid Fence were as follows: | ||||||||||||||||
2-Jan-14 | ||||||||||||||||
Cash | $ | — | ||||||||||||||
Accounts receivable | 1.2 | |||||||||||||||
Inventories | 2.2 | |||||||||||||||
Property, plant and equipment, net | 0.1 | |||||||||||||||
Intangible assets | 26.9 | |||||||||||||||
Total assets acquired | 30.4 | |||||||||||||||
Total liabilities assumed | 1.6 | |||||||||||||||
Total identifiable net assets less goodwill | 28.8 | |||||||||||||||
Goodwill | 7 | |||||||||||||||
Total identifiable net assets | $ | 35.8 | ||||||||||||||
FOH [Member] | ' | |||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||
Summary of preliminary consideration | ' | |||||||||||||||
The following table summarizes the consideration paid for FOH by the Company: | ||||||||||||||||
30-May-14 | ||||||||||||||||
Fair value of previously held equity interest (Series B preferred stock) | $ | 12 | ||||||||||||||
Series A preferred stock purchase | 1.5 | |||||||||||||||
Preliminary purchase price | $ | 13.5 | ||||||||||||||
Summary of fair value of assets acquired and liabilities assumed | ' | |||||||||||||||
The preliminary fair values recorded for the assets acquired and liabilities assumed for FOH are as follows: | ||||||||||||||||
Preliminary Valuation | ||||||||||||||||
30-May-14 | ||||||||||||||||
Cash | $ | 0.8 | ||||||||||||||
Accounts receivable | 0.7 | |||||||||||||||
Inventories | 12.4 | |||||||||||||||
Property, plant and equipment, net | 1.2 | |||||||||||||||
Intangible assets | 41.7 | |||||||||||||||
Other Assets | 2.8 | |||||||||||||||
Total assets acquired | 59.6 | |||||||||||||||
Total liabilities assumed | 81.7 | |||||||||||||||
Total identifiable net assets | (22.1 | ) | ||||||||||||||
Non-controlling interest | (8.3 | ) | ||||||||||||||
Goodwill | 43.9 | |||||||||||||||
Total identifiable net assets | $ | 13.5 | ||||||||||||||
Investments_Tables
Investments (Tables) | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Available-for-Sale Securities | ' | |||||||||||||||||||||||
The Company’s consolidated investments are summarized as follows: | ||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||
Cost or Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Carrying Value | ||||||||||||||||||||
Fixed-maturity securities, available-for sale | ||||||||||||||||||||||||
Asset-backed securities | $ | 1,800.80 | $ | 10.9 | $ | (18.8 | ) | $ | 1,792.90 | $ | 1,792.90 | |||||||||||||
Commercial mortgage-backed securities | 617.6 | 21.3 | (2.0 | ) | 636.9 | 636.9 | ||||||||||||||||||
Corporates | 9,345.50 | 499.2 | (48.9 | ) | 9,795.80 | 9,795.80 | ||||||||||||||||||
Hybrids | 1,279.10 | 52.2 | (15.2 | ) | 1,316.10 | 1,316.10 | ||||||||||||||||||
Municipals | 1,149.90 | 116.2 | (6.3 | ) | 1,259.80 | 1,259.80 | ||||||||||||||||||
Agency residential mortgage-backed securities | 104.3 | 3.1 | (0.1 | ) | 107.3 | 107.3 | ||||||||||||||||||
Non-agency residential mortgage-backed securities | 1,880.50 | 137.2 | (11.0 | ) | 2,006.70 | 2,006.70 | ||||||||||||||||||
U.S. Government | 291 | 6.4 | (1.4 | ) | 296 | 296 | ||||||||||||||||||
Total fixed-maturity securities | 16,468.70 | 846.5 | (103.7 | ) | 17,211.50 | 17,211.50 | ||||||||||||||||||
Equity securities | ||||||||||||||||||||||||
Available-for-sale | 645.7 | 23 | (5.1 | ) | 663.6 | 663.6 | ||||||||||||||||||
Held for trading | 141.2 | 8.2 | (44.9 | ) | 104.5 | 104.5 | ||||||||||||||||||
Total equity securities | 786.9 | 31.2 | (50.0 | ) | 768.1 | 768.1 | ||||||||||||||||||
Derivatives | 177.7 | 123.3 | (4.7 | ) | 296.3 | 296.3 | ||||||||||||||||||
Asset-based loans | 811.6 | — | — | 811.6 | 811.6 | |||||||||||||||||||
Other invested assets | 164.9 | 0.1 | — | 165 | 165 | |||||||||||||||||||
Total investments | $ | 18,409.80 | $ | 1,001.10 | $ | (158.4 | ) | $ | 19,252.50 | $ | 19,252.50 | |||||||||||||
September 30, 2013 | ||||||||||||||||||||||||
Cost or Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Carrying Value | ||||||||||||||||||||
Fixed-maturity securities, available-for-sale | ||||||||||||||||||||||||
Asset-backed securities | $ | 1,505.70 | $ | 22.6 | $ | (5.2 | ) | $ | 1,523.10 | $ | 1,523.10 | |||||||||||||
Commercial mortgage-backed securities | 431.3 | 24.7 | (1.6 | ) | 454.4 | 454.4 | ||||||||||||||||||
Corporates | 9,314.70 | 288.7 | (185.1 | ) | 9,418.30 | 9,418.30 | ||||||||||||||||||
Hybrids | 412.6 | 19.5 | (3.3 | ) | 428.8 | 428.8 | ||||||||||||||||||
Municipals | 998.8 | 49 | (40.8 | ) | 1,007.00 | 1,007.00 | ||||||||||||||||||
Agency residential mortgage-backed securities | 96.5 | 2.4 | (0.3 | ) | 98.6 | 98.6 | ||||||||||||||||||
Non-agency residential mortgage-backed securities | 1,304.00 | 77.4 | (13.4 | ) | 1,368.00 | 1,368.00 | ||||||||||||||||||
U.S. Government | 998.5 | 7.2 | (3.9 | ) | 1,001.80 | 1,001.80 | ||||||||||||||||||
Total fixed-maturity securities | 15,062.10 | 491.5 | (253.6 | ) | 15,300.00 | 15,300.00 | ||||||||||||||||||
Equity securities | ||||||||||||||||||||||||
Available-for-sale | 274.6 | 6.7 | (10.3 | ) | 271 | 271 | ||||||||||||||||||
Held for trading | 120.1 | 0.6 | (39.2 | ) | 81.5 | 81.5 | ||||||||||||||||||
Total equity securities | 394.7 | 7.3 | (49.5 | ) | 352.5 | 352.5 | ||||||||||||||||||
Derivatives | 141.7 | 88.5 | (8.4 | ) | 221.8 | 221.8 | ||||||||||||||||||
Asset-based loans | 560.4 | — | — | 560.4 | 560.4 | |||||||||||||||||||
Other invested assets | 31.2 | — | — | 31.2 | 31.2 | |||||||||||||||||||
Total investments | $ | 16,190.10 | $ | 587.3 | $ | (311.5 | ) | $ | 16,465.90 | $ | 16,465.90 | |||||||||||||
Amortized Cost and Fair Value of Fixed Maturity Available-for-Sale Securities | ' | |||||||||||||||||||||||
The amortized cost and fair value of fixed maturity available-for-sale securities by contractual maturities, as applicable, are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or pre-pay obligations. | ||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||
Amortized Cost | Fair Value | |||||||||||||||||||||||
Corporate, Non-structured Hybrids, Municipal and U.S. Government securities: | ||||||||||||||||||||||||
Due in one year or less | $ | 370 | $ | 372.8 | ||||||||||||||||||||
Due after one year through five years | 2,297.60 | 2,360.20 | ||||||||||||||||||||||
Due after five years through ten years | 3,128.90 | 3,232.70 | ||||||||||||||||||||||
Due after ten years | 5,794.50 | 6,230.00 | ||||||||||||||||||||||
Subtotal | 11,591.00 | 12,195.70 | ||||||||||||||||||||||
Other securities which provide for periodic payments: | ||||||||||||||||||||||||
Asset-backed securities | 1,800.80 | 1,792.90 | ||||||||||||||||||||||
Commercial mortgage-backed securities | 617.6 | 636.9 | ||||||||||||||||||||||
Structured hybrids | 474.5 | 472 | ||||||||||||||||||||||
Agency residential mortgage-backed securities | 104.3 | 107.3 | ||||||||||||||||||||||
Non-agency residential mortgage-backed securities | 1,880.50 | 2,006.70 | ||||||||||||||||||||||
Total fixed maturity available-for-sale securities | $ | 16,468.70 | $ | 17,211.50 | ||||||||||||||||||||
Fair Value and Gross Unrealized Losses of Available-for-Sale-Securities | ' | |||||||||||||||||||||||
The fair value and gross unrealized losses of available-for-sale securities, aggregated by investment category, were as follows: | ||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||
Fair Value | Gross Unrealized | Fair Value | Gross Unrealized | Fair Value | Gross Unrealized | |||||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||||||
Asset-backed securities | $ | 825.8 | $ | (11.8 | ) | $ | 288.2 | $ | (7.0 | ) | $ | 1,114.00 | $ | (18.8 | ) | |||||||||
Commercial mortgage-backed securities | 160.3 | (0.9 | ) | 0.4 | (1.1 | ) | 160.7 | (2.0 | ) | |||||||||||||||
Corporates | 816.6 | (16.3 | ) | 1,127.80 | (32.6 | ) | 1,944.40 | (48.9 | ) | |||||||||||||||
Equities | 180.4 | (2.2 | ) | 54.9 | (2.9 | ) | 235.3 | (5.1 | ) | |||||||||||||||
Hybrids | 258.2 | (2.3 | ) | 290 | (12.9 | ) | 548.2 | (15.2 | ) | |||||||||||||||
Municipals | — | — | 264.9 | (6.3 | ) | 264.9 | (6.3 | ) | ||||||||||||||||
Agency residential mortgage-backed securities | 24.1 | (0.1 | ) | 0.6 | — | 24.7 | (0.1 | ) | ||||||||||||||||
Non-agency residential mortgage-backed securities | 274.4 | (5.7 | ) | 177 | (5.3 | ) | 451.4 | (11.0 | ) | |||||||||||||||
U.S. Government | 37.3 | (0.1 | ) | 81.7 | (1.3 | ) | 119 | (1.4 | ) | |||||||||||||||
Total available-for-sale securities | $ | 2,577.10 | $ | (39.4 | ) | $ | 2,285.50 | $ | (69.4 | ) | $ | 4,862.60 | $ | (108.8 | ) | |||||||||
Total number of available-for-sale securities in an unrealized loss position | 319 | 310 | 629 | |||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||
Fair Value | Gross Unrealized | Fair Value | Gross Unrealized | Fair Value | Gross Unrealized | |||||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||||||
Asset-backed securities | $ | 329.3 | $ | (4.5 | ) | $ | 81.5 | $ | (0.7 | ) | $ | 410.8 | $ | (5.2 | ) | |||||||||
Commercial mortgage-backed securities | 26.6 | (0.5 | ) | 4.9 | (1.1 | ) | 31.5 | (1.6 | ) | |||||||||||||||
Corporates | 3,457.20 | (175.0 | ) | 186 | (10.1 | ) | 3,643.20 | (185.1 | ) | |||||||||||||||
Equities | 118.6 | (9.1 | ) | 32.2 | (1.2 | ) | 150.8 | (10.3 | ) | |||||||||||||||
Hybrids | 52 | (3.3 | ) | — | — | 52 | (3.3 | ) | ||||||||||||||||
Municipals | 333.3 | (27.3 | ) | 144.4 | (13.5 | ) | 477.7 | (40.8 | ) | |||||||||||||||
Agency residential mortgage-backed securities | 9.8 | (0.1 | ) | 1.1 | (0.2 | ) | 10.9 | (0.3 | ) | |||||||||||||||
Non-agency residential mortgage-backed securities | 325.2 | (12.2 | ) | 69.9 | (1.2 | ) | 395.1 | (13.4 | ) | |||||||||||||||
U.S Government | 753.9 | (3.9 | ) | — | — | 753.9 | (3.9 | ) | ||||||||||||||||
Total available-for-sale securities | $ | 5,405.90 | $ | (235.9 | ) | $ | 520 | $ | (28.0 | ) | $ | 5,925.90 | $ | (263.9 | ) | |||||||||
Total number of available-for-sale securities in an unrealized loss position | 588 | 78 | 666 | |||||||||||||||||||||
Reconciliation of Other-than-Temporary Impairment on Fixed Maturity | ' | |||||||||||||||||||||||
The following table provides a reconciliation of the beginning and ending balances of the credit loss portion of other-than-temporary impairments on fixed maturity securities held by FGL for Fiscal 2014, 2013 and 2012, for which a portion of the other-than-temporary impairment was recognized in AOCI: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Beginning balance | $ | 2.7 | $ | 2.7 | $ | 0.7 | ||||||||||||||||||
Increases attributable to credit losses on securities: | ||||||||||||||||||||||||
Other-than-temporary impairment was previously recognized | — | — | 0.1 | |||||||||||||||||||||
Other-than-temporary impairment was not previously recognized | — | — | 1.9 | |||||||||||||||||||||
Ending balance | $ | 2.7 | $ | 2.7 | $ | 2.7 | ||||||||||||||||||
Other-than-Temporary Impairments | ' | |||||||||||||||||||||||
Details underlying write-downs taken as a result of other-than-temporary impairments that were recognized in net income and included in net realized gains on securities were as follows: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Other-than-temporary impairments recognized in net income: | ||||||||||||||||||||||||
Corporates | $ | — | $ | 1.2 | $ | 4.1 | ||||||||||||||||||
Municipals | 0.3 | — | — | |||||||||||||||||||||
Non-agency residential mortgage-backed securities | 0.1 | 1.2 | 7.5 | |||||||||||||||||||||
Hybrids | — | — | 9.7 | |||||||||||||||||||||
Other invested assets | 0.3 | 0.5 | 1.5 | |||||||||||||||||||||
Total other-than-temporary impairments | $ | 0.7 | $ | 2.9 | $ | 22.8 | ||||||||||||||||||
Portfolio of Asset-Backed Loans and Other Invested Assets | ' | |||||||||||||||||||||||
portfolio of asset-based loans receivable, originated by Salus and their co-lenders FGL and FSR, included in “Asset-based loans” in the Consolidated Balance Sheets as of September 30, 2014 and 2013, consisted of the following: | ||||||||||||||||||||||||
September 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Asset-based loans, net of deferred fees, by major industry: | ||||||||||||||||||||||||
Electronics | $ | 245.4 | $ | — | ||||||||||||||||||||
Apparel | 191.6 | 252.9 | ||||||||||||||||||||||
Jewelry | 100.1 | 125.8 | ||||||||||||||||||||||
Home Furnishings | 71.7 | — | ||||||||||||||||||||||
Manufacturing | 56.9 | 34.3 | ||||||||||||||||||||||
Transportation | 44.3 | 85.7 | ||||||||||||||||||||||
Sporting Goods | 13.9 | 25.1 | ||||||||||||||||||||||
Other | 94.9 | 41.8 | ||||||||||||||||||||||
Total asset-based loans | 818.8 | 565.6 | ||||||||||||||||||||||
Less: Allowance for loan losses | 7.2 | 5.2 | ||||||||||||||||||||||
Total asset-based loans, net | $ | 811.6 | $ | 560.4 | ||||||||||||||||||||
Schedule of Allowance for Credit Losses | ' | |||||||||||||||||||||||
The following table presents the activity in its allowance for credit losses for Fiscal 2014, 2013 and 2012: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Allowance for credit losses: | ||||||||||||||||||||||||
Balance at beginning of year | $ | 5.2 | $ | 1.4 | $ | — | ||||||||||||||||||
Provision for credit losses | 2 | 3.8 | 1.4 | |||||||||||||||||||||
Balance at end of year | $ | 7.2 | $ | 5.2 | $ | 1.4 | ||||||||||||||||||
Schedule of Credit Quality of Asset-Based Loan Portfolio | ' | |||||||||||||||||||||||
As of September 30, 2014 and 2013, there were no impaired loans. | ||||||||||||||||||||||||
Internal Risk Rating | ||||||||||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | ||||||||||||||||||||
30-Sep-14 | $ | 195.3 | $ | 372.7 | $ | 250.8 | $ | — | $ | 818.8 | ||||||||||||||
30-Sep-13 | $ | 306.9 | $ | 36.7 | $ | 222 | $ | — | $ | 565.6 | ||||||||||||||
Net Investment Income | ' | |||||||||||||||||||||||
The major sources of “Net investment income” in the accompanying Consolidated Statements of Operations were as follows: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Fixed maturity available-for-sale securities | $ | 787.4 | $ | 686.2 | $ | 707.1 | ||||||||||||||||||
Equity available-for-sale securities | 22.8 | 14.8 | 14 | |||||||||||||||||||||
Policy loans | 0.7 | 0.8 | 0.7 | |||||||||||||||||||||
Invested cash and short-term investments | 0.3 | 1.4 | 4.9 | |||||||||||||||||||||
Asset-based loans | 41.5 | 35.4 | 8.6 | |||||||||||||||||||||
Other investments | 7.1 | 12.9 | (0.9 | ) | ||||||||||||||||||||
Gross investment income | 859.8 | 751.5 | 734.4 | |||||||||||||||||||||
External investment expense | (17.6 | ) | (16.8 | ) | (11.7 | ) | ||||||||||||||||||
Net investment income | $ | 842.2 | $ | 734.7 | $ | 722.7 | ||||||||||||||||||
Net Investment Gains | ' | |||||||||||||||||||||||
“Net investment gains” reported in the accompanying Consolidated Statements of Operations were as follows: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Net realized gains before other-than-temporary impairments | $ | 101.9 | $ | 332.9 | $ | 287.2 | ||||||||||||||||||
Gross other-than-temporary impairments | (0.6 | ) | (2.9 | ) | (24.3 | ) | ||||||||||||||||||
Non-credit portion of other-than-temporary impairments included in other comprehensive income | — | — | 1.5 | |||||||||||||||||||||
Net realized gains on fixed maturity available-for-sale securities | 101.3 | 330 | 264.4 | |||||||||||||||||||||
Realized gains on equity securities | 13.5 | 12.6 | 0.9 | |||||||||||||||||||||
Net realized gains on securities | 114.8 | 342.6 | 265.3 | |||||||||||||||||||||
Realized gains (losses) on certain derivative instruments | 233.8 | 148.6 | (10.3 | ) | ||||||||||||||||||||
Unrealized gains on certain derivative instruments | 37.7 | 20.5 | 156.3 | |||||||||||||||||||||
Change in fair value of other embedded derivatives | (0.1 | ) | — | — | ||||||||||||||||||||
Change in fair value of derivatives | 271.4 | 169.1 | 146 | |||||||||||||||||||||
Realized gains (losses) on other invested assets | 9.1 | (0.1 | ) | (1.3 | ) | |||||||||||||||||||
Net investment gains | $ | 395.3 | $ | 511.6 | $ | 410 | ||||||||||||||||||
Cash Flows from Consolidated Investing Activities by Security | ' | |||||||||||||||||||||||
Cash flows from consolidated investing activities by security classification were as follows: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Proceeds from investments sold, matured or repaid: | ||||||||||||||||||||||||
Available-for-sale | $ | 5,084.10 | $ | 8,986.90 | $ | 5,833.40 | ||||||||||||||||||
Held-to-maturity | — | — | 109.6 | |||||||||||||||||||||
Trading (acquired for holding) | 54.9 | 92.9 | 106.1 | |||||||||||||||||||||
Derivatives and other | 470.2 | 352.4 | 157.6 | |||||||||||||||||||||
$ | 5,609.20 | $ | 9,432.20 | $ | 6,206.70 | |||||||||||||||||||
Cost of investments acquired: | ||||||||||||||||||||||||
Available-for-sale | $ | (6,741.2 | ) | $ | (8,757.5 | ) | $ | (5,640.1 | ) | |||||||||||||||
Held-to-maturity | — | — | (68.7 | ) | ||||||||||||||||||||
Trading (acquired for holding) | (99.7 | ) | (20.8 | ) | (122.3 | ) | ||||||||||||||||||
Derivatives and other | (380.5 | ) | (162.5 | ) | (141.6 | ) | ||||||||||||||||||
$ | (7,221.4 | ) | $ | (8,940.8 | ) | $ | (5,972.7 | ) |
Derivative_Financial_Instrumen1
Derivative Financial Instruments Derivative Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||
Fair Value of Outstanding Derivative Contracts in Condensed Consolidated Balance Sheets | ' | ||||||||||||||||||||||||||||||||||||||
The fair value of outstanding derivative contracts recorded in the accompanying Consolidated Balance Sheets were as follows: | |||||||||||||||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||||||||||||||
Asset Derivatives | Classification | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Other assets | $ | 0.6 | $ | — | ||||||||||||||||||||||||||||||||||
Commodity swap and option agreements | Receivables, net | 1.3 | 0.4 | ||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | Other assets | 0.3 | — | ||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | Receivables, net | 12 | 1.7 | ||||||||||||||||||||||||||||||||||||
Total asset derivatives designated as hedging instruments | 14.2 | 2.1 | |||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||||||
Commodity contracts | Receivables, net | 1.9 | 3.7 | ||||||||||||||||||||||||||||||||||||
Call options | Derivatives | 296.3 | 221.8 | ||||||||||||||||||||||||||||||||||||
Other embedded derivatives | Other invested assets | 11.2 | — | ||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | Receivables, net | 0.5 | 0.1 | ||||||||||||||||||||||||||||||||||||
Total asset derivatives | $ | 324.1 | $ | 227.7 | |||||||||||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||||||||||||||
Liability Derivatives | Classification | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Accounts payable and other current liabilities | $ | 1.8 | $ | — | ||||||||||||||||||||||||||||||||||
Commodity contracts | Accounts payable and other current liabilities | 0.1 | 0.5 | ||||||||||||||||||||||||||||||||||||
Foreign exchange forward agreements | Accounts payable and other current liabilities | — | 4.6 | ||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | Other liabilities | — | 0.1 | ||||||||||||||||||||||||||||||||||||
Total liability derivatives designated as hedging instruments | 1.9 | 5.2 | |||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||||||
Commodity contracts | Other liabilities | 0.3 | 1.9 | ||||||||||||||||||||||||||||||||||||
FIA embedded derivative | Contractholder funds | 1,908.10 | 1,544.40 | ||||||||||||||||||||||||||||||||||||
Futures contracts | Other liabilities | 0.5 | 1 | ||||||||||||||||||||||||||||||||||||
Foreign exchange forward contracts | Accounts payable and other current liabilities | 0.1 | 5.3 | ||||||||||||||||||||||||||||||||||||
Equity conversion feature of preferred stock | Equity conversion feature of preferred stock | — | 330.8 | ||||||||||||||||||||||||||||||||||||
Total liability derivatives | $ | 1,910.90 | $ | 1,888.60 | |||||||||||||||||||||||||||||||||||
Pretax Impact of Derivative Instruments Designated as Cash Flow Hedges on Accompanying Condensed Consolidated Statements of Operations, and Within AOCI | ' | ||||||||||||||||||||||||||||||||||||||
The following table summarizes the pretax impact of derivative instruments designated as cash flow hedges on the accompanying Consolidated Statements of Operations, and within AOCI, for Fiscal 2014, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationships | Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion) | Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | Classification | |||||||||||||||||||||||||||||||||||
Fiscal | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Interest rate contracts | $ | (1.6 | ) | $ | — | $ | — | $ | (0.9 | ) | $ | — | $ | (0.9 | ) | $ | — | $ | — | $ | — | Consumer products cost of goods sold | |||||||||||||||||
Commodity contracts | 1.9 | (2.6 | ) | 1.6 | 0.7 | (0.6 | ) | (1.1 | ) | — | — | 0.1 | (a) | Interest expense | |||||||||||||||||||||||||
Foreign exchange contracts | 0.1 | 0.9 | 0.1 | 0.2 | 0.9 | (0.5 | ) | — | — | — | Net consumer products sales | ||||||||||||||||||||||||||||
Foreign exchange contracts | 12.7 | (0.3 | ) | (3.5 | ) | (2.6 | ) | 0.6 | (0.6 | ) | — | — | — | Consumer products cost of goods sold | |||||||||||||||||||||||||
Total | $ | 13.1 | $ | (2.0 | ) | $ | (1.8 | ) | $ | (2.6 | ) | $ | 0.9 | $ | (3.1 | ) | $ | — | $ | — | $ | 0.1 | |||||||||||||||||
(a) | Reclassified from AOCI associated with the prepayment of portions of Spectrum Brands’ senior credit facility (see Note 15, Debt). | ||||||||||||||||||||||||||||||||||||||
Summary of Gain (Loss) Recognized in Income on Derivatives | ' | ||||||||||||||||||||||||||||||||||||||
During Fiscal 2014, 2013 and 2012, the Company recognized the following gains and losses on these derivatives: | |||||||||||||||||||||||||||||||||||||||
Classification | Derivatives Not Designated as Hedging Instruments | Amounts Recognized in Income on Derivatives | |||||||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||||||||||||
Net investment gains | Call options | $ | 246 | $ | 151.6 | $ | 100 | ||||||||||||||||||||||||||||||||
Futures contracts | 25.5 | 17.5 | 46 | ||||||||||||||||||||||||||||||||||||
Change in fair value of other embedded derivatives | (0.1 | ) | — | — | |||||||||||||||||||||||||||||||||||
Net investment income | Available-for-sale embedded derivatives | — | — | 0.4 | |||||||||||||||||||||||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||||||||||||||
Cost of consumer products and other goods sold | Commodity contracts | $ | (0.1 | ) | $ | (0.1 | ) | $ | — | ||||||||||||||||||||||||||||||
Benefits and other changes in policy reserves | FIA embedded derivatives | 363.7 | (6.4 | ) | 154.5 | ||||||||||||||||||||||||||||||||||
Other income and expense: | |||||||||||||||||||||||||||||||||||||||
Loss from the change in the fair value of the equity conversion feature of preferred stock | Equity conversion feature of preferred stock | $ | (12.7 | ) | $ | (101.6 | ) | $ | (156.6 | ) | |||||||||||||||||||||||||||||
Other expense, net | Oil and natural gas commodity contracts | (6.6 | ) | (1.3 | ) | — | |||||||||||||||||||||||||||||||||
Foreign exchange contracts | 3.1 | (3.6 | ) | 5.9 | |||||||||||||||||||||||||||||||||||
Volumes and Fair Value of Oil and Natural Gas Derivative Financial Instruments | ' | ||||||||||||||||||||||||||||||||||||||
The following table presents the volumes and fair value of Compass’ oil and natural gas derivative financial instruments as of September 30, 2014 (presented on a calendar-year basis): | |||||||||||||||||||||||||||||||||||||||
(in millions, except volumes and prices) | Volume Mmmbtus/Mbbls | Weighted average strike price per Mmbtu/Bbl | September 30, | ||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||
Natural gas: | |||||||||||||||||||||||||||||||||||||||
Swaps: | |||||||||||||||||||||||||||||||||||||||
Remainder of 2014 | 4,106 | $ | 4.15 | $ | 0.2 | ||||||||||||||||||||||||||||||||||
2015 | 2,715 | 3.98 | (0.1 | ) | |||||||||||||||||||||||||||||||||||
Total natural gas | 6,821 | $ | 0.1 | ||||||||||||||||||||||||||||||||||||
Oil: | |||||||||||||||||||||||||||||||||||||||
Swaps: | |||||||||||||||||||||||||||||||||||||||
Remainder of 2014 | 68 | $ | 91.87 | $ | 0.1 | ||||||||||||||||||||||||||||||||||
2015 | 186 | 94.98 | 1.4 | ||||||||||||||||||||||||||||||||||||
Total oil | 254 | $ | 1.5 | ||||||||||||||||||||||||||||||||||||
Total oil and natural gas derivatives | $ | 1.6 | |||||||||||||||||||||||||||||||||||||
FGL's Exposure to Credit Loss on Call Options Held | ' | ||||||||||||||||||||||||||||||||||||||
Information regarding FGL’s exposure to credit loss on the call options it holds is presented in the following table: | |||||||||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||||||||
Counterparty | Credit Rating | Notional | Fair Value | Collateral | Net Credit Risk | Notional | Fair Value | Collateral | Net Credit Risk | ||||||||||||||||||||||||||||||
(Fitch/Moody’s/S&P) (a) | Amount | Amount | |||||||||||||||||||||||||||||||||||||
Merrill Lynch | A/*/A | $ | 2,239.90 | $ | 92.7 | $ | 52.5 | $ | 40.2 | $ | 2,037.80 | $ | 70.7 | $ | — | $ | 70.7 | ||||||||||||||||||||||
Deutsche Bank | A+/A3/A | 2,810.00 | 108 | 72.5 | 35.5 | 1,620.40 | 51.7 | 23 | 28.7 | ||||||||||||||||||||||||||||||
Morgan Stanley | */A3/A | 2,294.70 | 85 | 63 | 22 | 2,264.10 | 75.7 | 49 | 26.7 | ||||||||||||||||||||||||||||||
Royal Bank of Scotland | A-/*/A- | — | — | — | — | 364.3 | 20.3 | — | 20.3 | ||||||||||||||||||||||||||||||
Barclay's Bank | A/A2/A- | 258 | 10.6 | — | 10.6 | 120.8 | 3.4 | — | 3.4 | ||||||||||||||||||||||||||||||
$ | 7,602.60 | $ | 296.3 | $ | 188 | $ | 108.3 | $ | 6,407.40 | $ | 221.8 | $ | 72 | $ | 149.8 | ||||||||||||||||||||||||
Securitizations_and_Variable_I1
Securitizations and Variable Interest Entities Securitizations and Variable Interest Entities (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Securitizations and Variable Interest Entities [Abstract] | ' | ||||||||
Schedule of Variable Interest Entities | ' | ||||||||
The table below summarizes select information related to the CLO vehicle in which Salus held a variable interest at September 30, 2014 and 2013. | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
Maximum loss exposure | $ | 455.9 | $ | 337.8 | |||||
Asset-based loans receivable | $ | 455.9 | $ | 337.8 | |||||
Cash and other assets | 35.5 | 156.7 | |||||||
Total assets of consolidated VIE | $ | 491.4 | $ | 494.5 | |||||
Long-term debt | $ | 484 | $ | 485 | |||||
Other liabilities | 6.7 | 2.9 | |||||||
Total liabilities of consolidated VIE | $ | 490.7 | $ | 487.9 | |||||
Equitymethod_investments_Equit
Equity-method investments Equity-method investments (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Proportionately Consolidated Equity Method Investments [Abstract] | ' | ||||||||
Schedule of Equity Method Investments | ' | ||||||||
The following tables present summarized consolidated financial information of Compass (HGI’s proportionately consolidated equity investment) for Fiscal 2014 and the period subsequent to HGI’s acquisition of the equity interest on February 14, 2013. | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
Assets | |||||||||
Total current assets | $ | 50.1 | $ | 54.4 | |||||
Oil and natural gas properties, net | 599.4 | 741.5 | |||||||
Other assets | 29 | 32.7 | |||||||
Total assets | $ | 678.5 | $ | 828.6 | |||||
Liabilities and members’ equity | |||||||||
Total current liabilities | $ | 42.9 | $ | 44.9 | |||||
Total long-term liabilities | 362.9 | 397.3 | |||||||
Total members’ equity | 272.7 | 386.4 | |||||||
Total liabilities and members’ equity | $ | 678.5 | $ | 828.6 | |||||
Year ended September 30, 2014 | Inception to Period Ended September 30, 2013 | ||||||||
Revenues | $ | 197.5 | $ | 121.1 | |||||
Costs and Expenses | |||||||||
Oil and natural gas direct operating costs | 93.5 | 59 | |||||||
Selling, acquisition, operating and general expenses | 67.2 | 49.5 | |||||||
Impairment of proved oil and natural gas properties | 109 | 72.8 | |||||||
Total costs and expenses | 269.7 | 181.3 | |||||||
Operating loss | (72.2 | ) | (60.2 | ) | |||||
Other expense, net | (19.0 | ) | (8.0 | ) | |||||
Net loss | $ | (91.2 | ) | $ | (68.2 | ) |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments Fair Value of Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Assets and Liabilities Carrying at Fair Value on Recurring Basis | ' | |||||||||||||||||||||||||||||||
The Company’s consolidated assets and liabilities measured at fair value are summarized according to the hierarchy previously described as follows: | ||||||||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Contingent purchase price reduction receivable | $ | — | $ | — | $ | 41.5 | $ | 41.5 | ||||||||||||||||||||||||
Derivatives: | ||||||||||||||||||||||||||||||||
Interest rate contracts | — | 0.6 | — | 0.6 | ||||||||||||||||||||||||||||
Commodity swap and option agreements | — | 3.2 | — | 3.2 | ||||||||||||||||||||||||||||
Foreign exchange contracts | — | 12.8 | — | 12.8 | ||||||||||||||||||||||||||||
Call options and futures contracts | — | 296.3 | — | 296.3 | ||||||||||||||||||||||||||||
Fixed maturity securities, available-for-sale: | ||||||||||||||||||||||||||||||||
Asset-backed securities | — | 1,755.90 | 37 | 1,792.90 | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities | — | 553.8 | 83.1 | 636.9 | ||||||||||||||||||||||||||||
Corporates | — | 8,945.80 | 850 | 9,795.80 | ||||||||||||||||||||||||||||
Hybrids | — | 1,316.10 | — | 1,316.10 | ||||||||||||||||||||||||||||
Municipals | — | 1,222.60 | 37.2 | 1,259.80 | ||||||||||||||||||||||||||||
Agency residential mortgage-backed securities | — | 107.3 | — | 107.3 | ||||||||||||||||||||||||||||
Non-agency residential mortgage-backed securities | — | 2,006.70 | — | 2,006.70 | ||||||||||||||||||||||||||||
U.S. Government | 115.6 | 180.4 | — | 296 | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||
Available-for-sale | 59.2 | 598.4 | 6 | 663.6 | ||||||||||||||||||||||||||||
Trading | 104.5 | — | — | 104.5 | ||||||||||||||||||||||||||||
Other invested assets | — | 2.1 | 11.2 | 13.3 | ||||||||||||||||||||||||||||
Funds withheld receivable | — | 154.4 | — | 154.4 | ||||||||||||||||||||||||||||
Total financial assets | $ | 279.3 | $ | 17,156.40 | $ | 1,066.00 | $ | 18,501.70 | ||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivatives: | ||||||||||||||||||||||||||||||||
FIA embedded derivatives, included in contractholder funds | $ | — | $ | — | $ | 1,908.10 | $ | 1,908.10 | ||||||||||||||||||||||||
Front Street future policyholder benefit liability | — | — | 151.3 | 151.3 | ||||||||||||||||||||||||||||
Foreign exchange forward agreements and contracts | — | 0.1 | — | 0.1 | ||||||||||||||||||||||||||||
Commodity contracts | — | 0.4 | — | 0.4 | ||||||||||||||||||||||||||||
Futures contracts | — | 0.5 | — | 0.5 | ||||||||||||||||||||||||||||
Interest rate contracts | — | 1.8 | — | 1.8 | ||||||||||||||||||||||||||||
Total financial liabilities | $ | — | $ | 2.8 | $ | 2,059.40 | $ | 2,062.20 | ||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Contingent purchase price reduction receivable | $ | — | $ | — | $ | 41 | $ | 41 | ||||||||||||||||||||||||
Derivatives: | ||||||||||||||||||||||||||||||||
Foreign exchange forward agreements | — | 1.8 | — | 1.8 | ||||||||||||||||||||||||||||
Commodity swap and option agreements | — | 4.1 | — | 4.1 | ||||||||||||||||||||||||||||
Call options | — | 221.8 | — | 221.8 | ||||||||||||||||||||||||||||
Fixed maturity securities, available-for-sale: | ||||||||||||||||||||||||||||||||
Asset-backed securities | — | 1,518.10 | 5 | 1,523.10 | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities | — | 448.7 | 5.7 | 454.4 | ||||||||||||||||||||||||||||
Corporates | — | 8,957.20 | 461.1 | 9,418.30 | ||||||||||||||||||||||||||||
Hybrids | — | 428.8 | — | 428.8 | ||||||||||||||||||||||||||||
Municipals | — | 1,007.00 | — | 1,007.00 | ||||||||||||||||||||||||||||
Agency residential mortgage-backed securities | — | 98.6 | — | 98.6 | ||||||||||||||||||||||||||||
Non-agency residential mortgage-backed securities | — | 1,368.00 | — | 1,368.00 | ||||||||||||||||||||||||||||
U.S. Government | 790.9 | 210.9 | — | 1,001.80 | ||||||||||||||||||||||||||||
Equity securities | ||||||||||||||||||||||||||||||||
Available-for-sale | — | 271 | — | 271 | ||||||||||||||||||||||||||||
Trading | 70.8 | — | 10.7 | 81.5 | ||||||||||||||||||||||||||||
Total financial assets | $ | 861.7 | $ | 14,536.00 | $ | 523.5 | $ | 15,921.20 | ||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivatives: | ||||||||||||||||||||||||||||||||
FIA embedded derivatives, included in contractholder funds | $ | — | $ | — | $ | 1,544.40 | $ | 1,544.40 | ||||||||||||||||||||||||
Futures contracts | — | 1 | — | 1 | ||||||||||||||||||||||||||||
Foreign exchange forward agreements and contracts | — | 10 | — | 10 | ||||||||||||||||||||||||||||
Commodity contracts | — | 2.4 | — | 2.4 | ||||||||||||||||||||||||||||
Equity conversion feature of preferred stock | — | — | 330.8 | 330.8 | ||||||||||||||||||||||||||||
Total financial liabilities | $ | — | $ | 13.4 | $ | 1,875.20 | $ | 1,888.60 | ||||||||||||||||||||||||
Schedule of Unobservable Inputs Used for Level Three Fair Value Measurements of Financial Instruments on Recurring Basis | ' | |||||||||||||||||||||||||||||||
Quantitative information regarding significant unobservable inputs used for recurring Level 3 fair value measurements of financial instruments carried at fair value as of September 30, 2014 and 2013 are as follows: | ||||||||||||||||||||||||||||||||
Fair Value at | Range (Weighted average) | |||||||||||||||||||||||||||||||
Assets | Valuation Technique | Unobservable Input(s) | September 30, | September 30, | September 30, | 30-Sep-13 | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | ||||||||||||||||||||||||||||||
Contingent purchase price reduction receivable | Discounted cash flow | Probability of collection | $ | 41.5 | $ | 41 | 88% - 96% (92%) | 88% - 96% (92%) | ||||||||||||||||||||||||
Expected term | 4.5 months | 9 months | ||||||||||||||||||||||||||||||
Discount rate | 1% | 1% | ||||||||||||||||||||||||||||||
Credit insurance risk premium | 12% | 11% | ||||||||||||||||||||||||||||||
Asset-backed securities | Broker-quoted | Offered quotes | 37 | 5 | 100% - 109% | 103% | ||||||||||||||||||||||||||
-101% | ||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | Broker-quoted | Offered quotes | 83.1 | 5.7 | 105% - 121% (118%) | 96% | ||||||||||||||||||||||||||
Corporates | Broker-quoted | Offered quotes | 848 | 404.5 | 62% - 120% (100%) | 0% - 113% (90%) | ||||||||||||||||||||||||||
Corporates | Matrix pricing | Quoted prices | 2 | 56.6 | 142% | 90% - 131% (97%) | ||||||||||||||||||||||||||
Municipal | Broker-quoted | Offered quotes | 37.2 | — | 107% | — | ||||||||||||||||||||||||||
Equity | Broker-quoted | Offered quotes | 6 | — | 100% | — | ||||||||||||||||||||||||||
Option Pricing | Risk-adjusted rate | — | 10.7 | — | 25.00% | |||||||||||||||||||||||||||
Risk-free discount factor | — | 0.999 | ||||||||||||||||||||||||||||||
Risk-adjusted discount factor | — | 0.995 | ||||||||||||||||||||||||||||||
Upward movement factor (Mu) | — | 1.1 | ||||||||||||||||||||||||||||||
Downward movement factor (Md) | — | 0.9 | ||||||||||||||||||||||||||||||
Probability of upward movement (Pu) | — | 48.60% | ||||||||||||||||||||||||||||||
Probability of downward movement (Pd) | — | 51.40% | ||||||||||||||||||||||||||||||
Other invested assets | Black Scholes model | Net asset value of Anchor Path fund | 11.2 | — | 100% | — | ||||||||||||||||||||||||||
Total | $ | 1,066.00 | $ | 523.5 | ||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
FIA embedded derivatives, included in contractholder funds | Discounted cash flow | Market value of option | $ | 1,908.10 | $ | 1,544.40 | 0% - 50% (3%) | 0% - 38% (4%) | ||||||||||||||||||||||||
SWAP rates | 2% - 3% (2%) | 2% - 3% (2%) | ||||||||||||||||||||||||||||||
Mortality multiplier | 80% | 80% | ||||||||||||||||||||||||||||||
Surrender rates | 0.50% - 75% (7%) | 0.50% - 75% (7%) | ||||||||||||||||||||||||||||||
Non-performance risk spread | 0.25% | 0.25% | ||||||||||||||||||||||||||||||
Front Street future policyholder benefit liability | Discounted cash flow | Non-performance risk spread | 151.3 | — | 0.50% - 1.50% | — | ||||||||||||||||||||||||||
Risk margin to reflect uncertainty | 0.50% | — | ||||||||||||||||||||||||||||||
Equity conversion feature of preferred stock | Monte Carlo simulation / Option model | Annualized volatility of equity | — | 330.8 | — | 42% | ||||||||||||||||||||||||||
Discount yield | — | 11% | ||||||||||||||||||||||||||||||
Non-cash accretion rate | — | 0% | ||||||||||||||||||||||||||||||
Calibration adjustment | — | 0% - 1.0% (0.3%) | ||||||||||||||||||||||||||||||
Total | $ | 2,059.40 | $ | 1,875.20 | ||||||||||||||||||||||||||||
Changes in Fair Value of Financial Instruments | ' | |||||||||||||||||||||||||||||||
The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for Fiscal 2014, 2013 and 2012. This summary excludes any impact of amortization of VOBA and DAC. The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. | ||||||||||||||||||||||||||||||||
Fiscal 2014 | ||||||||||||||||||||||||||||||||
Balance at Beginning | Total Gains (Losses) | Net transfer In (Out) of | Balance at End of | |||||||||||||||||||||||||||||
of Period | Included in | Included in | Purchases | Sales | Settlements | Level 3 (a) | Period | |||||||||||||||||||||||||
Earnings | AOCI | |||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Contingent purchase price reduction receivable | $ | 41 | $ | 0.5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 41.5 | ||||||||||||||||
Fixed maturity securities available-for-sale: | ||||||||||||||||||||||||||||||||
Asset-backed securities | 5 | — | (0.3 | ) | 36.1 | — | — | (3.8 | ) | 37 | ||||||||||||||||||||||
Commercial mortgage-backed securities | 5.7 | — | — | 83.7 | (0.3 | ) | — | (6.0 | ) | 83.1 | ||||||||||||||||||||||
Corporates | 461.1 | — | 19.1 | 398.1 | (11.8 | ) | (2.4 | ) | (14.1 | ) | 850 | |||||||||||||||||||||
Municipals | — | — | 2.2 | 35 | — | — | — | 37.2 | ||||||||||||||||||||||||
Equity securities - trading | 10.7 | 1.3 | — | 1.5 | — | (13.5 | ) | — | — | |||||||||||||||||||||||
Equity securities - available-for-sale | — | — | 1.2 | 4.8 | — | — | — | 6 | ||||||||||||||||||||||||
Other invested assets | — | (0.1 | ) | — | 11.3 | — | — | — | 11.2 | |||||||||||||||||||||||
Total assets at fair value | $ | 523.5 | $ | 1.7 | $ | 22.2 | $ | 570.5 | $ | (12.1 | ) | $ | (15.9 | ) | $ | (23.9 | ) | $ | 1,066.00 | |||||||||||||
Balance at Beginning | Total (Gains) Losses | Net transfer In (Out) of | Balance at End of | |||||||||||||||||||||||||||||
of Period | Included in | Included in | Purchases | Sales | Settlements | Level 3 (a) | Period | |||||||||||||||||||||||||
Earnings | AOCI | |||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
FIA embedded derivatives, included in contractholder funds | $ | 1,544.40 | $ | 363.7 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,908.10 | ||||||||||||||||
Front Street future policyholder benefit liability | — | 7 | — | 150.6 | — | (6.3 | ) | — | 151.3 | |||||||||||||||||||||||
Equity conversion feature of preferred stock | 330.8 | 12.7 | — | — | — | (343.5 | ) | — | — | |||||||||||||||||||||||
Total liabilities at fair value | $ | 1,875.20 | $ | 383.4 | $ | — | $ | 150.6 | $ | — | $ | (349.8 | ) | $ | — | $ | 2,059.40 | |||||||||||||||
(a) | The net transfers in and out of Level 3 during Fiscal 2014 were exclusively to or from Level 2. | |||||||||||||||||||||||||||||||
Fiscal 2013 | ||||||||||||||||||||||||||||||||
Balance at Beginning | Total Gains (Losses) | Net transfer In (Out) of | Balance at End of | |||||||||||||||||||||||||||||
of Period | Included in | Included in | Purchases | Sales | Settlements | Level 3 (a) | Period | |||||||||||||||||||||||||
Earnings | AOCI | |||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Contingent purchase price reduction receivable | $ | 41 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 41 | ||||||||||||||||
Fixed maturity securities available-for-sale: | ||||||||||||||||||||||||||||||||
Asset-backed securities | 15.9 | — | (0.2 | ) | — | — | (0.2 | ) | (10.5 | ) | 5 | |||||||||||||||||||||
Commercial mortgage-backed securities | 5 | — | (0.3 | ) | 1 | — | — | — | 5.7 | |||||||||||||||||||||||
Corporates | 135.3 | (0.3 | ) | (13.4 | ) | 406 | (9.6 | ) | (23.1 | ) | (33.8 | ) | 461.1 | |||||||||||||||||||
Hybrids | 8.8 | — | (0.1 | ) | — | — | — | (8.7 | ) | — | ||||||||||||||||||||||
Equity securities - trading | — | — | — | 10.7 | — | — | — | 10.7 | ||||||||||||||||||||||||
Equity securities - available-for-sale | — | 0.2 | — | 10.5 | (10.7 | ) | — | — | — | |||||||||||||||||||||||
Total assets at fair value | $ | 206 | $ | (0.1 | ) | $ | (14.0 | ) | $ | 428.2 | $ | (20.3 | ) | $ | (23.3 | ) | $ | (53.0 | ) | $ | 523.5 | |||||||||||
Balance at Beginning | Total (Gains) Losses | Net transfer In (Out) of | Balance at End of | |||||||||||||||||||||||||||||
of Period | Included in | Included in | Purchases | Sales | Settlements | Level 3 (a) | Period | |||||||||||||||||||||||||
Earnings | AOCI | |||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
FIA embedded derivatives, included in contractholder funds | $ | 1,550.80 | $ | (6.4 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,544.40 | |||||||||||||||
Equity conversion feature of preferred stock | 232 | 101.6 | — | — | — | (2.8 | ) | — | 330.8 | |||||||||||||||||||||||
Total liabilities at fair value | $ | 1,782.80 | $ | 95.2 | $ | — | $ | — | $ | — | $ | (2.8 | ) | $ | — | $ | 1,875.20 | |||||||||||||||
(a) | The net transfers in and out of Level 3 during Fiscal 2013 was exclusively to or from Level 2. | |||||||||||||||||||||||||||||||
Fiscal 2012 | ||||||||||||||||||||||||||||||||
Balance at Beginning | Total Gains (Losses) | Net transfer In (Out) of | Balance at End of | |||||||||||||||||||||||||||||
of Period | Included in | Included in | Purchases | Sales | Settlements | Level 3 (a) | Period | |||||||||||||||||||||||||
Earnings | AOCI | |||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Contingent purchase price reduction receivable | $ | — | $ | 41 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 41 | ||||||||||||||||
Fixed maturity securities available-for-sale: | ||||||||||||||||||||||||||||||||
Asset-backed securities | 374.5 | — | 7.4 | 410.7 | — | (38.8 | ) | (737.9 | ) | 15.9 | ||||||||||||||||||||||
Commercial mortgage-backed securities | — | — | — | 5 | — | — | — | 5 | ||||||||||||||||||||||||
Corporates | 159.7 | — | (3.6 | ) | 1.3 | (26.8 | ) | (14.2 | ) | 18.9 | 135.3 | |||||||||||||||||||||
Hybrids | 5.2 | — | (0.1 | ) | — | — | — | 3.7 | 8.8 | |||||||||||||||||||||||
Municipals | — | — | 0.1 | 10.2 | — | — | (10.3 | ) | — | |||||||||||||||||||||||
Agency residential mortgage-backed securities | 3.3 | — | — | — | — | — | (3.3 | ) | — | |||||||||||||||||||||||
Non-agency residential mortgage-backed securities | 3.8 | (0.1 | ) | — | — | (0.5 | ) | (0.3 | ) | (2.9 | ) | — | ||||||||||||||||||||
Total assets at fair value | $ | 546.5 | $ | 40.9 | $ | 3.8 | $ | 427.2 | $ | (27.3 | ) | $ | (53.3 | ) | $ | (731.8 | ) | $ | 206 | |||||||||||||
Balance at Beginning | Total (Gains) Losses | Net transfer In (Out) of | Balance at End of | |||||||||||||||||||||||||||||
of Period | Included in | Included in | Purchases | Sales | Settlements | Level 3 (a) | Period | |||||||||||||||||||||||||
Earnings | AOCI | |||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
FIA embedded derivatives, included in contractholder funds | $ | 1,396.30 | $ | 154.5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,550.80 | ||||||||||||||||
Equity conversion feature of preferred stock | 75.4 | 156.6 | — | — | — | — | — | 232 | ||||||||||||||||||||||||
Available-for-sale embedded derivatives | 0.4 | (0.4 | ) | — | — | — | — | — | — | |||||||||||||||||||||||
Total liabilities at fair value | $ | 1,472.10 | $ | 310.7 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,782.80 | ||||||||||||||||
(a) | The net transfers in and out of Level 3 during Fiscal 2012 was exclusively to or from Level 2. | |||||||||||||||||||||||||||||||
Schedule of Assets and Liabilities not Measured at Fair Value | ' | |||||||||||||||||||||||||||||||
The carrying amount, estimated fair value and the level of the fair value hierarchy of the Company’s financial instrument assets and liabilities which are not measured at fair value on the Consolidated Balance Sheets are summarized as follows: | ||||||||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Estimated Fair Value | Carrying Amount | ||||||||||||||||||||||||||||
Assets (a) | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,319.20 | $ | — | $ | — | $ | 1,319.20 | $ | 1,319.20 | ||||||||||||||||||||||
Other invested assets | — | — | 151.7 | 151.7 | 151.7 | |||||||||||||||||||||||||||
Asset-based loans | — | — | 811.6 | 811.6 | 811.6 | |||||||||||||||||||||||||||
Total financial assets | $ | 1,319.20 | $ | — | $ | 963.3 | $ | 2,282.50 | $ | 2,282.50 | ||||||||||||||||||||||
Liabilities (a) | ||||||||||||||||||||||||||||||||
Total debt (b) | $ | — | $ | 5,308.50 | $ | — | $ | 5,308.50 | $ | 5,157.80 | ||||||||||||||||||||||
Investment contracts, included in contractholder funds | — | — | 13,108.80 | 13,108.80 | 14,555.40 | |||||||||||||||||||||||||||
Total financial liabilities | $ | — | $ | 5,308.50 | $ | 13,108.80 | $ | 18,417.30 | $ | 19,713.20 | ||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Estimated Fair Value | Carrying Amount | ||||||||||||||||||||||||||||
Assets (a) | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,899.70 | $ | — | $ | — | $ | 1,899.70 | $ | 1,899.70 | ||||||||||||||||||||||
Other invested assets | — | — | 31.2 | 31.2 | 31.2 | |||||||||||||||||||||||||||
Asset-based loans | — | — | 560.4 | 560.4 | 560.4 | |||||||||||||||||||||||||||
Total financial assets | $ | 1,899.70 | $ | — | $ | 591.6 | $ | 2,491.30 | $ | 2,491.30 | ||||||||||||||||||||||
Liabilities (a) | ||||||||||||||||||||||||||||||||
Total debt (b) | $ | — | $ | 4,773.20 | $ | — | $ | 4,773.20 | $ | 4,896.10 | ||||||||||||||||||||||
Redeemable preferred stock, excluding equity conversion feature | — | — | 377.1 | 377.1 | 329.4 | |||||||||||||||||||||||||||
Investment contracts, included in contractholder funds | — | — | 12,378.60 | 12,378.60 | 13,703.80 | |||||||||||||||||||||||||||
Total financial liabilities | $ | — | $ | 4,773.20 | $ | 12,755.70 | $ | 17,528.90 | $ | 18,929.30 | ||||||||||||||||||||||
(a) | The carrying amounts of trade receivables, accounts payable, accrued investment income and portions of other insurance liabilities approximate fair value due to their short duration and, accordingly, they are not presented in the tables above. | |||||||||||||||||||||||||||||||
(b) |
Receivables_net_Receivables_ne
Receivables, net Receivables, net (Tables) | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable | ' | ||||||||||||||||||||
“Receivables, net” in the accompanying Consolidated Balance Sheets consist of the following: | |||||||||||||||||||||
September 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Trade accounts receivable | |||||||||||||||||||||
Consumer products | $ | 487.7 | $ | 518.7 | |||||||||||||||||
Oil and natural gas | 20.3 | 16.7 | |||||||||||||||||||
Other | 0.6 | — | |||||||||||||||||||
Total trade accounts receivable | 508.6 | 535.4 | |||||||||||||||||||
Less: Allowance for doubtful trade accounts receivable | 48.6 | 37.4 | |||||||||||||||||||
Total trade accounts receivable, net | 460 | 498 | |||||||||||||||||||
Contingent purchase price reduction receivable (Note 24) | 41.5 | 41 | |||||||||||||||||||
Other receivables | 83.6 | 72.3 | |||||||||||||||||||
Total receivables, net | $ | 585.1 | $ | 611.3 | |||||||||||||||||
Schedule of Credit Losses for Financing Receivables, Current | ' | ||||||||||||||||||||
The following is an analysis of the allowance for doubtful trade accounts receivable: | |||||||||||||||||||||
Period | Balance at Beginning of | Charged to | Deductions | Other | Balance at | ||||||||||||||||
Period | Costs and | Adjustments | End of Period | ||||||||||||||||||
Expenses | |||||||||||||||||||||
Fiscal 2014 | $ | 37.4 | $ | 7.4 | $ | (2.4 | ) | $ | 6.2 | $ | 48.6 | ||||||||||
Fiscal 2013 | 21.9 | 15.5 | — | — | 37.4 | ||||||||||||||||
Fiscal 2012 | 14.1 | 7.8 | — | — | 21.9 | ||||||||||||||||
Inventories_net_Inventories_ne
Inventories, net Inventories, net (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Inventories, net [Abstract] | ' | |||||||
Schedule of Inventory, Net | ' | |||||||
“Inventories, net” in the accompanying Consolidated Balance Sheets consist of the following: | ||||||||
September 30, | ||||||||
2014 | 2013 | |||||||
Raw materials | $ | 104.1 | $ | 97.3 | ||||
Work-in-process | 35.3 | 40.6 | ||||||
Finished goods | 495.8 | 495 | ||||||
Total inventories, net | $ | 635.2 | $ | 632.9 | ||||
Properties_including_oil_and_g1
Properties, including oil and gas properties, net Properties, including oil and gas properties, net (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment | ' | |||||||
Properties, including oil and natural gas properties, net, consist of the following: | ||||||||
September 30, | ||||||||
2014 | 2013 | |||||||
Oil and natural gas properties (full cost accounting method) | ||||||||
Unproved oil and natural gas properties and development costs not being amortized | $ | 20.2 | $ | 36.4 | ||||
Proved developed and undeveloped oil and natural gas properties | 493.9 | 546 | ||||||
Less: Accumulated depletion | (68.4 | ) | (30.1 | ) | ||||
Total oil and natural gas properties, net | 445.7 | 552.3 | ||||||
Other properties | ||||||||
Land, buildings and improvements | 166.9 | 169.8 | ||||||
Gas gathering assets | 21.1 | 21.1 | ||||||
Machinery, equipment and other | 496.3 | 420.6 | ||||||
Capitalized leases | 99.3 | 67.7 | ||||||
Construction in progress | 32.3 | 46.8 | ||||||
Total other properties, at cost | 815.9 | 726 | ||||||
Less: Accumulated depreciation | 353 | 285 | ||||||
Total other properties, net | 462.9 | 441 | ||||||
Total properties, including oil and natural gas properties, net | $ | 908.6 | $ | 993.3 | ||||
Goodwill_and_Intangibles_inclu1
Goodwill and Intangibles, including DAC and VOBA, net Goodwill and Intangibles, including DAC and VOBA, net (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Summary of Changes in Carrying Amounts of Goodwill and Intangible Assets Including FGL's DAC and VOBA Balances | ' | |||||||||||||||||||||||||
he changes in the carrying amounts of goodwill and intangible assets, including DAC and VOBA balances, were as follows: | ||||||||||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||||
Goodwill | Indefinite Lived | Definite Lived | VOBA | DAC | Total | |||||||||||||||||||||
Balance at September 30, 2012 | $ | 694.2 | $ | 841.1 | $ | 873.9 | $ | 104.3 | $ | 169.2 | $ | 1,988.50 | ||||||||||||||
Acquisitions (Note 4) | 786.6 | 331 | 188.3 | — | — | 519.3 | ||||||||||||||||||||
Deferrals | — | — | — | — | 147.4 | 147.4 | ||||||||||||||||||||
Less: Components of amortization - | ||||||||||||||||||||||||||
Periodic amortization | — | — | (77.8 | ) | (194.6 | ) | (62.1 | ) | (334.5 | ) | ||||||||||||||||
Interest | — | — | — | 21.8 | 9.5 | 31.3 | ||||||||||||||||||||
Unlocking | — | — | — | 35.8 | 7.3 | 43.1 | ||||||||||||||||||||
Adjustment for unrealized investment losses, net | — | — | — | 258 | 69.3 | 327.3 | ||||||||||||||||||||
Effect of translation | (4.1 | ) | 6 | 0.7 | — | — | 6.7 | |||||||||||||||||||
Balance at September 30, 2013 | 1,476.70 | 1,178.10 | 985.1 | 225.3 | 340.6 | 2,729.10 | ||||||||||||||||||||
Acquisitions (Note 4) | 65.8 | 46.7 | 23.5 | — | — | 70.2 | ||||||||||||||||||||
Deferrals | — | — | — | — | 239 | 239 | ||||||||||||||||||||
Less: Components of amortization - | ||||||||||||||||||||||||||
Periodic amortization | — | — | (81.7 | ) | (92.4 | ) | (58.0 | ) | (232.1 | ) | ||||||||||||||||
Interest | — | — | — | 15 | 13.6 | 28.6 | ||||||||||||||||||||
Unlocking | — | — | — | 21.6 | 2.7 | 24.3 | ||||||||||||||||||||
Adjustment for unrealized investment (gains), net | — | — | — | (82.7 | ) | (74.1 | ) | (156.8 | ) | |||||||||||||||||
Effect of translation | (17.7 | ) | (8.9 | ) | (9.7 | ) | — | — | (18.6 | ) | ||||||||||||||||
Balance at September 30, 2014 | $ | 1,524.80 | $ | 1,215.90 | $ | 917.2 | $ | 86.8 | $ | 463.8 | $ | 2,683.70 | ||||||||||||||
Summary of Definite Lived Intangible Assets | ' | |||||||||||||||||||||||||
Definite lived intangible assets are summarized as follows: | ||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | |||||||||||||||||||||||||
Cost | Accumulated Amortization | Net | Cost | Accumulated Amortization | Net | Amortizable Life | ||||||||||||||||||||
Customer relationships | $ | 877.1 | $ | (204.6 | ) | $ | 672.5 | $ | 885.9 | $ | (160.8 | ) | $ | 725.1 | 15 to 20 years | |||||||||||
Trade names | 171.1 | (61.0 | ) | 110.1 | 171.6 | (44.7 | ) | 126.9 | 1 to 12 years | |||||||||||||||||
Technology assets | 192.2 | (57.6 | ) | 134.6 | 172.1 | (39.0 | ) | 133.1 | 4 to 17 years | |||||||||||||||||
$ | 1,240.40 | $ | (323.2 | ) | $ | 917.2 | $ | 1,229.60 | $ | (244.5 | ) | $ | 985.1 | |||||||||||||
Summary of Amortization Expense of Definite Lived Intangible Assets | ' | |||||||||||||||||||||||||
Amortization expense for definite lived intangible assets is as follows: | ||||||||||||||||||||||||||
Year ended September 30, | ||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||
Customer relationships | $ | 46.7 | $ | 44.9 | $ | 40.2 | ||||||||||||||||||||
Trade names | 16.4 | 16.6 | 14.4 | |||||||||||||||||||||||
Technology assets | 18.6 | 16.3 | 9.1 | |||||||||||||||||||||||
$ | 81.7 | $ | 77.8 | $ | 63.7 | |||||||||||||||||||||
Estimated Amortization Expense for VOBA and DAC in Future Fiscal Periods | ' | |||||||||||||||||||||||||
Estimated amortization expense for VOBA in future fiscal periods is as follows: | ||||||||||||||||||||||||||
Estimated Amortization Expense | ||||||||||||||||||||||||||
Fiscal Year | VOBA | |||||||||||||||||||||||||
2015 | $ | 42.8 | ||||||||||||||||||||||||
2016 | 38.4 | |||||||||||||||||||||||||
2017 | 31.2 | |||||||||||||||||||||||||
2018 | 25 | |||||||||||||||||||||||||
2019 | 25.5 | |||||||||||||||||||||||||
2020 and thereafter | 88.1 | |||||||||||||||||||||||||
Accounts_Payable_and_Other_Cur1
Accounts Payable and Other Current Liabilities Accounts Payable and Other Current Liabilities (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Accounts Payable and Other Current Liabilities [Abstract] | ' | |||||||
Schedule of Accounts Payable and Accrued Liabilities | ' | |||||||
“Accounts payable and other current liabilities” in the accompanying Consolidated Balance Sheets consist of the following: | ||||||||
September 30, | ||||||||
2014 | 2013 | |||||||
Accounts payable | $ | 535.7 | $ | 530.3 | ||||
Accrued expenses and other | 215.8 | 206.1 | ||||||
Wages and benefits | 157.5 | 134.2 | ||||||
Accrued interest | 57.9 | 53.4 | ||||||
Income taxes payable | 39.9 | 48.9 | ||||||
Oil and natural gas revenues and royalties payable | 14.4 | 14.9 | ||||||
Restructuring and related charges | 11.8 | 16.7 | ||||||
Accrued dividends on Preferred Stock | — | 8.2 | ||||||
Total accounts payable and other current liabilities | $ | 1,033.00 | $ | 1,012.70 | ||||
Debt_Debt_Tables
Debt Debt (Tables) | 12 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
Summary of Debt | ' | ||||||||||||||
The Company’s consolidated debt consists of the following: | |||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||
Amount | Rate | Amount | Rate | ||||||||||||
HGI: | |||||||||||||||
7.875% Senior Secured Notes, due July 15, 2019 | $ | 604.4 | 7.9 | % | $ | 925 | 7.9 | % | |||||||
7.75% Senior Unsecured Notes, due January 15, 2022 | 750 | 7.8 | % | — | — | % | |||||||||
Spectrum Brands: | |||||||||||||||
CAD Term Loan, due December 17, 2019 | 34.2 | 5.1 | % | 81.4 | 5.1 | % | |||||||||
Term Loan, due September 4, 2017 (Tranche A) | 648.4 | 3 | % | 850 | 3 | % | |||||||||
Term Loan, due September 4, 2019 (Tranche C) | 509.9 | 3.6 | % | 300 | 3.6 | % | |||||||||
Term Loan, due December 17, 2019 (Tranche B) | — | — | % | 513.3 | 4.6 | % | |||||||||
Euro Term Loan, due September 4, 2019 | 283.3 | 3.8 | % | — | — | % | |||||||||
6.75% Senior Notes, due March 15, 2020 | 300 | 6.8 | % | 300 | 6.8 | % | |||||||||
6.375% Senior Notes, due November 15, 2020 | 520 | 6.4 | % | 520 | 6.4 | % | |||||||||
6.625% Senior Notes, due November 15, 2022 | 570 | 6.6 | % | 570 | 6.6 | % | |||||||||
ABL Facility, expiring May 24, 2017 | — | 2.5 | % | — | 5.7 | % | |||||||||
Other notes and obligations | 36.6 | 8.8 | % | 28.5 | 8.5 | % | |||||||||
Capitalized lease obligations | 94.7 | 6.1 | % | 67.4 | 6.2 | % | |||||||||
FGH | |||||||||||||||
6.375% Senior Notes, due April 1, 2021 | 300 | 6.4 | % | 300 | 6.4 | % | |||||||||
Compass | |||||||||||||||
Compass Credit Agreement, due February 14, 2018 | 243.2 | 2.7 | % | 271.2 | 2.7 | % | |||||||||
Salus | |||||||||||||||
Unaffiliated long-term debt of consolidated variable-interest entity | 193 | 6.7 | % | 182.9 | 6.6 | % | |||||||||
Secured borrowings under non-qualifying loan participations | 106.8 | 10.8 | % | — | — | % | |||||||||
Total | 5,194.50 | 4,909.70 | |||||||||||||
Original issuance (discounts) premiums on debt, net | (36.7 | ) | (13.6 | ) | |||||||||||
Total debt | 5,157.80 | 4,896.10 | |||||||||||||
Less current maturities | 96.7 | 102.9 | |||||||||||||
Non-current portion of debt | $ | 5,061.10 | $ | 4,793.20 | |||||||||||
Schedule of Maturities of Long-term Debt | ' | ||||||||||||||
Aggregate scheduled maturities of debt as of September 30, 2014 are as follows: | |||||||||||||||
Fiscal Year | Scheduled Maturities | ||||||||||||||
HGI - Parent Only | Consolidated | ||||||||||||||
2015 | $ | — | $ | 97.4 | |||||||||||
2016 | — | 77.6 | |||||||||||||
2017 | — | 563.7 | |||||||||||||
2018 | — | 256.3 | |||||||||||||
2019 | 604.4 | 1,470.90 | |||||||||||||
Thereafter | 750 | 2,728.60 | |||||||||||||
$ | 1,354.40 | $ | 5,194.50 | ||||||||||||
Permanent_Equity_Permanent_Equ
Permanent Equity Permanent Equity (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income Reflected in Consolidated Statements of Permanent Equity | ' | ||||||||||||||||||||||||
The cumulative amounts of the components of accumulated other comprehensive income reflected in the accompanying Consolidated Statements of Permanent Equity, as of September 30, 2014 and 2013, were as follows: | |||||||||||||||||||||||||
Unrealized | Non-credit | Other | Actuarial | Cumulative | Total | ||||||||||||||||||||
Investment | Related | Unrealized | Adjustments | Translation | |||||||||||||||||||||
Gains, net | Other-than- | Gains (Losses) | to Pension | Adjustments | |||||||||||||||||||||
temporary | — Cash Flow | Plans | |||||||||||||||||||||||
Impairments | Hedges | ||||||||||||||||||||||||
Cumulative components at September 30, 2014: | |||||||||||||||||||||||||
Gross amounts (after reclassification adjustments) | $ | 762.2 | $ | (1.0 | ) | $ | 13.1 | $ | (36.2 | ) | $ | (42.8 | ) | $ | 695.3 | ||||||||||
Intangible assets adjustments | (220.0 | ) | 0.4 | — | — | — | (219.6 | ) | |||||||||||||||||
Tax effects | (190.1 | ) | 0.2 | (3.9 | ) | 0.8 | 3.5 | (189.5 | ) | ||||||||||||||||
Noncontrolling interest | (68.5 | ) | — | (3.8 | ) | 13.6 | 16.1 | (42.6 | ) | ||||||||||||||||
$ | 283.6 | $ | (0.4 | ) | $ | 5.4 | $ | (21.8 | ) | $ | (23.2 | ) | $ | 243.6 | |||||||||||
Cumulative components at September 30, 2013: | |||||||||||||||||||||||||
Gross amounts (after reclassification adjustments) | $ | 235.7 | $ | (1.0 | ) | $ | (2.6 | ) | $ | (28.9 | ) | $ | (10.3 | ) | $ | 192.9 | |||||||||
Intangible assets adjustments | (63.2 | ) | 0.4 | — | — | — | (62.8 | ) | |||||||||||||||||
Tax effects | (61.1 | ) | 0.2 | 0.3 | (0.8 | ) | 3.5 | (57.9 | ) | ||||||||||||||||
Noncontrolling interest | — | — | 0.9 | 11.9 | 2.7 | 15.5 | |||||||||||||||||||
$ | 111.4 | $ | (0.4 | ) | $ | (1.4 | ) | $ | (17.8 | ) | $ | (4.1 | ) | $ | 87.7 | ||||||||||
Schedule of Shares of Common Stock Repurchased [Table Text Block] | ' | ||||||||||||||||||||||||
Shares repurchased | Weighted-Average Price per Share | Amount Repurchased | |||||||||||||||||||||||
Cumulative balance at September 30, 2014 | 5,197 | $ | 12.62 | $ | 65.6 | ||||||||||||||||||||
Employee_Benefit_Obligations_E
Employee Benefit Obligations Employee Benefit Obligations (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Changes in Projected Benefit Obligations | ' | ||||||||||||||||||||||||
The following tables provide additional information on the Company’s pension and other postretirement benefit plans which principally relate to Spectrum Brands: | |||||||||||||||||||||||||
Pension and Deferred | Other Benefits | ||||||||||||||||||||||||
Compensation Benefits | |||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Change in benefit obligation | |||||||||||||||||||||||||
Benefit obligation, beginning of year | $ | 274.5 | $ | 260.7 | $ | 0.4 | $ | 0.6 | |||||||||||||||||
Liabilities assumed through acquisitions | — | 14.7 | — | — | |||||||||||||||||||||
Service cost | 3.5 | 3 | — | — | |||||||||||||||||||||
Interest cost | 11.2 | 10.6 | — | — | |||||||||||||||||||||
Actuarial loss (gain) | 15.3 | 1.1 | — | (0.1 | ) | ||||||||||||||||||||
Participant contributions | — | 0.1 | — | — | |||||||||||||||||||||
Curtailments | — | (1.5 | ) | — | (0.1 | ) | |||||||||||||||||||
Benefits paid | (11.5 | ) | (17.4 | ) | — | — | |||||||||||||||||||
Foreign currency exchange rate changes | (5.9 | ) | 3.2 | — | — | ||||||||||||||||||||
Benefit obligation, end of year | $ | 287.1 | $ | 274.5 | $ | 0.4 | $ | 0.4 | |||||||||||||||||
Change in plan assets | |||||||||||||||||||||||||
Fair value of plan assets, beginning of year | $ | 190.8 | $ | 168.6 | $ | — | $ | — | |||||||||||||||||
Assets acquired through acquisitions | — | 6.7 | — | — | |||||||||||||||||||||
Actual return on plan assets | 13.8 | 18.3 | — | — | |||||||||||||||||||||
Employer contributions | 13.8 | 12.9 | — | — | |||||||||||||||||||||
Employee contributions | — | 0.1 | — | — | |||||||||||||||||||||
Benefits paid | (11.5 | ) | (17.4 | ) | — | — | |||||||||||||||||||
Foreign currency exchange rate changes | (2.4 | ) | 1.6 | — | — | ||||||||||||||||||||
Fair value of plan assets, end of year | $ | 204.5 | $ | 190.8 | $ | — | $ | — | |||||||||||||||||
Accrued Benefit Cost / Funded Status | $ | (82.6 | ) | $ | (83.7 | ) | $ | (0.4 | ) | $ | (0.4 | ) | |||||||||||||
Range of assumptions: | |||||||||||||||||||||||||
Discount rate | 2.0% to 13.5% | 1.8% to 13.0% | 4.7 | % | 4.7 | % | |||||||||||||||||||
Expected return on plan assets | 2.0% to 7.5% | 3.6% to 7.8% | N/A | N/A | |||||||||||||||||||||
Rate of compensation increase | 2.3% to 5.5% | 2.3% to 5.5% | N/A | N/A | |||||||||||||||||||||
Schedule of Expected Benefit Payments | ' | ||||||||||||||||||||||||
The Company’s expected future pension benefit payments for Fiscal 2015 through its fiscal year 2024 are as follows: | |||||||||||||||||||||||||
Fiscal Year | Future Benefit Payments | ||||||||||||||||||||||||
2015 | $ | 13.8 | |||||||||||||||||||||||
2016 | 12 | ||||||||||||||||||||||||
2017 | 12.2 | ||||||||||||||||||||||||
2018 | 12.7 | ||||||||||||||||||||||||
2019 | 13.7 | ||||||||||||||||||||||||
2020 to 2024 | 72.1 | ||||||||||||||||||||||||
Schedule of Allocation of Plan Assets | ' | ||||||||||||||||||||||||
Below is a summary allocation of all pension plan assets as of the measurement date. | |||||||||||||||||||||||||
Weighted Average Allocation | |||||||||||||||||||||||||
Target | Actual | ||||||||||||||||||||||||
2014 | 2014 | 2013 | |||||||||||||||||||||||
Asset Category | |||||||||||||||||||||||||
Equity securities | 0-60% | 27 | % | 52 | % | ||||||||||||||||||||
Fixed income securities | 0-40% | 28 | % | 19 | % | ||||||||||||||||||||
Other | 0-100% | 45 | % | 29 | % | ||||||||||||||||||||
100 | % | 100 | % | 100 | % | ||||||||||||||||||||
The following tables sets forth the fair value of the Company’s pension plan assets, segregated by level within the fair value hierarchy. | |||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Defined Benefit Plan Assets: | |||||||||||||||||||||||||
Equity Securities | |||||||||||||||||||||||||
U.S. equity securities | $ | 19.9 | $ | 14.3 | $ | — | $ | 34.2 | |||||||||||||||||
Foreign equity securities | 11.1 | 9.7 | — | 20.8 | |||||||||||||||||||||
Debt Securities | |||||||||||||||||||||||||
U.S. bonds | 4 | 20.6 | — | 24.6 | |||||||||||||||||||||
Foreign bonds | 3.1 | 20.5 | — | 23.6 | |||||||||||||||||||||
Foreign government bonds | — | 8.6 | — | 8.6 | |||||||||||||||||||||
Real estate | 1.2 | 5.9 | — | 7.1 | |||||||||||||||||||||
Life insurance contracts | — | 37.7 | — | 37.7 | |||||||||||||||||||||
Other | — | 39.7 | — | 39.7 | |||||||||||||||||||||
Foreign cash & cash equivalents | 6.4 | 1.8 | — | 8.2 | |||||||||||||||||||||
Total defined benefit plan assets | $ | 45.7 | $ | 158.8 | $ | — | $ | 204.5 | |||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Defined Benefit Plan Assets: | |||||||||||||||||||||||||
Equity Securities | |||||||||||||||||||||||||
U.S. equity securities | $ | 18.5 | $ | 24.5 | $ | — | $ | 43 | |||||||||||||||||
Foreign equity securities | 10.8 | 39.1 | — | 49.9 | |||||||||||||||||||||
Debt Securities | |||||||||||||||||||||||||
U.S. bonds | 2.3 | 19.7 | — | 22 | |||||||||||||||||||||
Foreign bonds | — | 10.7 | — | 10.7 | |||||||||||||||||||||
Foreign government bonds | — | 8 | — | 8 | |||||||||||||||||||||
Real estate | 1.2 | 5.4 | — | 6.6 | |||||||||||||||||||||
Life insurance contracts | — | 37.7 | — | 37.7 | |||||||||||||||||||||
Other | — | 1 | — | 1 | |||||||||||||||||||||
Foreign cash & cash equivalents | 6.6 | 5.3 | — | 11.9 | |||||||||||||||||||||
Total defined benefit plan assets | $ | 39.4 | $ | 151.4 | $ | — | $ | 190.8 | |||||||||||||||||
Components of Consolidated Net Periodic Benefit and Deferred Compensation Benefit Costs and Contributions Made | ' | ||||||||||||||||||||||||
Pension and Deferred Compensation Benefits | Other Benefits | ||||||||||||||||||||||||
Fiscal | Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||
Components of net periodic cost: | |||||||||||||||||||||||||
Service cost | $ | 3.5 | $ | 3.4 | $ | 2.4 | $ | — | $ | — | $ | — | |||||||||||||
Interest cost | 11.2 | 10.6 | 11.4 | — | — | 0.1 | |||||||||||||||||||
Expected return on assets | (11.0 | ) | (9.7 | ) | (9.1 | ) | — | — | — | ||||||||||||||||
Amortization of prior service cost | — | — | 0.1 | — | — | — | |||||||||||||||||||
Curtailment gain | (0.1 | ) | (0.8 | ) | — | — | — | — | |||||||||||||||||
Recognized net actuarial loss(gain) | 1.5 | 2.1 | 0.9 | — | — | (0.1 | ) | ||||||||||||||||||
Net periodic cost | $ | 5.1 | $ | 5.6 | $ | 5.7 | $ | — | $ | — | $ | — | |||||||||||||
Reinsurance_Reinsurance_Tables
Reinsurance Reinsurance (Tables) | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Reinsurance Disclosures [Abstract] | ' | |||||||||||||||||||||||
Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes | ' | |||||||||||||||||||||||
The effect of reinsurance on premiums earned, benefits incurred and reserve changes for Fiscal 2014, 2013 and 2012 were as follows: | ||||||||||||||||||||||||
Fiscal | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Insurance Premiums | Benefits and Other Changes in Insurance Policy Reserves | Insurance Premiums | Benefits and Other Changes in Insurance Policy Reserves | Insurance Premiums | Benefits and Other Changes in Insurance Policy Reserves | |||||||||||||||||||
Direct | $ | 266.8 | $ | 1,103.30 | $ | 279.2 | $ | 776.5 | $ | 298 | $ | 1,033.40 | ||||||||||||
Assumed | 35.9 | 33 | 32.8 | 23.3 | 47.2 | 34.9 | ||||||||||||||||||
Ceded | (246.1 | ) | (283.6 | ) | (253.2 | ) | (268.0 | ) | (289.9 | ) | (290.9 | ) | ||||||||||||
Net | $ | 56.6 | $ | 852.7 | $ | 58.8 | $ | 531.8 | $ | 55.3 | $ | 777.4 | ||||||||||||
Stock_Compensation_Stock_Compe
Stock Compensation Stock Compensation (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||||||||||||||||||
Summary of Stock Options Outstanding and Related Activity | ' | |||||||||||||||||||||||||||||
A summary of stock options outstanding as of September 30, 2014 and related activity during the year then ended, under FGH, and FGL’s respective incentive plans are as follows (share amounts in thousands): | ||||||||||||||||||||||||||||||
HGI | FGH | FGL | ||||||||||||||||||||||||||||
Stock Option Awards | Options | Weighted Average Exercise Price | Weighted | Options | Weighted Average Exercise Price | Options | Weighted Average Exercise Price | Weighted | ||||||||||||||||||||||
Average Grant | Average Grant | |||||||||||||||||||||||||||||
Date Fair Value | Date Fair Value | |||||||||||||||||||||||||||||
Stock options outstanding at September 30, 2013 | 3,954 | $ | 6.52 | $ | 2.55 | 335 | $ | 44.23 | — | $ | — | $ | — | |||||||||||||||||
Granted | 1,356 | 11.75 | 4.91 | — | — | 249 | 17 | 3.76 | ||||||||||||||||||||||
Exercised | (526 | ) | 5.27 | 1.92 | (105 | ) | 39.86 | — | — | — | ||||||||||||||||||||
Forfeited or expired | (160 | ) | 8.14 | 3.27 | (5 | ) | 47.3 | (7 | ) | 17 | 5.26 | |||||||||||||||||||
Stock options outstanding at September 30, 2014 | 4,624 | 8.14 | 3.28 | 225 | 46.19 | 242 | 17 | 3.72 | ||||||||||||||||||||||
Stock options vested and exercisable at September 30, 2014 | 1,448 | 7.45 | 2.96 | 99 | 46.68 | — | — | — | ||||||||||||||||||||||
Stock options outstanding and expected to vest | 3,176 | 8.46 | 3.43 | 122 | 46.15 | 231 | — | 3.64 | ||||||||||||||||||||||
Summary of Restricted Stock and Restricted Stock Units Outstanding and Related Activity | ' | |||||||||||||||||||||||||||||
HGI | FGL | |||||||||||||||||||||||||||||
Restricted Stock Awards | Shares | Weighted | Shares | Weighted | ||||||||||||||||||||||||||
Average Grant | Average Grant | |||||||||||||||||||||||||||||
Date Fair Value | Date Fair Value | |||||||||||||||||||||||||||||
Restricted stock outstanding at September 30, 2013 | 3,456 | $ | 7.72 | — | $ | — | ||||||||||||||||||||||||
Granted | 3,325 | 12 | 179 | 18.25 | ||||||||||||||||||||||||||
Exercised / Released | (1,154 | ) | 10.18 | — | — | |||||||||||||||||||||||||
Forfeited | (197 | ) | 9.57 | (7 | ) | 19.98 | ||||||||||||||||||||||||
Restricted stock outstanding at September 30, 2014 | 5,430 | 9.76 | 172 | 18.18 | ||||||||||||||||||||||||||
Restricted stock outstanding and expected to vest | 5,418 | 9.75 | 159 | 18.03 | ||||||||||||||||||||||||||
HGI | Spectrum Brands | FGH | ||||||||||||||||||||||||||||
Restricted Stock Units | Units | Weighted | Units | Weighted | Units | Weighted | ||||||||||||||||||||||||
Average Grant | Average Grant | Average Grant | ||||||||||||||||||||||||||||
Date Fair Value | Date Fair Value | Date Fair Value | ||||||||||||||||||||||||||||
Restricted stock units outstanding at September 30, 2013 | 22 | $ | 4.61 | 1,118 | $ | 39.11 | 46 | $ | 49.6 | |||||||||||||||||||||
Granted | 7 | 11.84 | 669 | 75.5 | — | — | ||||||||||||||||||||||||
Exercised / Released | (22 | ) | 4.61 | (954 | ) | 39.69 | (18 | ) | 49.53 | |||||||||||||||||||||
Forfeited | — | — | (6 | ) | 69.33 | (2 | ) | 49.45 | ||||||||||||||||||||||
Restricted stock units outstanding at September 30, 2014 | 7 | 11.84 | 827 | 67.66 | 26 | 49.55 | ||||||||||||||||||||||||
Restricted stock units vested and exercisable at September 30, 2014 | — | — | — | — | — | |||||||||||||||||||||||||
Restricted stock units outstanding and expected to vest | 7 | 11.84 | 827 | 67.66 | 25 | 49.55 | ||||||||||||||||||||||||
FGL | ||||||||||||||||||||||||||||||
Performance Restricted Stock Units | Units | Weighted | ||||||||||||||||||||||||||||
Average Grant | ||||||||||||||||||||||||||||||
Date Fair Value | ||||||||||||||||||||||||||||||
Performance restricted stock units outstanding at September 30, 2013 | — | $ | — | |||||||||||||||||||||||||||
Granted | 578 | 17.37 | ||||||||||||||||||||||||||||
Performance restricted stock units outstanding at September 30, 2014 | 578 | 17.37 | ||||||||||||||||||||||||||||
Performance restricted stock units expected to vest | 578 | 17.37 | ||||||||||||||||||||||||||||
A summary of warrants outstanding as of September 30, 2014 and related activity during the year then ended, under HGI's incentive plan are as follows (share amounts in thousands): | ||||||||||||||||||||||||||||||
HGI | ||||||||||||||||||||||||||||||
Warrants | Units | Weighted Average Exercise Price | Weighted | |||||||||||||||||||||||||||
Average Grant | ||||||||||||||||||||||||||||||
Date Fair Value | ||||||||||||||||||||||||||||||
Warrants outstanding at September 30, 2013 | — | $ | — | $ | — | |||||||||||||||||||||||||
Granted | 3,000 | 13.13 | 3.22 | |||||||||||||||||||||||||||
Warrants outstanding at September 30, 2014 | 3,000 | 13.13 | 3.22 | |||||||||||||||||||||||||||
Warrants vested and exercisable at September 30, 2014 | 600 | 13.13 | 3.22 | |||||||||||||||||||||||||||
Warrants outstanding and expected to vest | 2,400 | 13.13 | 3.22 | |||||||||||||||||||||||||||
Summary of the Activity Related to the Incentive Unit Plan | ' | |||||||||||||||||||||||||||||
A summary of the activity related to the incentive unit plan was as follows (share amounts in thousands): | ||||||||||||||||||||||||||||||
Shares | Weighted average grant date fair value per share | |||||||||||||||||||||||||||||
Non-vested awards at September 30, 2013 | 102 | $ | 10 | |||||||||||||||||||||||||||
Granted | 323 | 7.9 | ||||||||||||||||||||||||||||
Vested | (137 | ) | 7.88 | |||||||||||||||||||||||||||
Terminated | (18 | ) | 8.44 | |||||||||||||||||||||||||||
Non-vested awards at September 30, 2014 | 270 | $ | 8.67 | |||||||||||||||||||||||||||
HGI | ' | |||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||||||||||||||||||
Assumptions Used in Determination of Grant Date Fair Values Using Black-Scholes Option Pricing Model | ' | |||||||||||||||||||||||||||||
The following assumptions were used in the determination of these grant date fair values using the Black-Scholes option pricing model: | ||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Risk-free interest rate | 1.37% to 1.70% | 0.84% to 1.86% | 0.97% to 1.19% | |||||||||||||||||||||||||||
Assumed dividend yield | —% | —% | —% | |||||||||||||||||||||||||||
Expected option term | 5.0 to 5.9 years | 5.3 to 6.2 years | 6 years | |||||||||||||||||||||||||||
Volatility | 37.8% to 39.8% | 41.9% to 44.0% | 33.0% to 35.5% | |||||||||||||||||||||||||||
Spectrum Brands | ' | |||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||||||||||||||||||
Assumptions Used in Determination of Grant Date Fair Values Using Black-Scholes Option Pricing Model | ' | |||||||||||||||||||||||||||||
The following assumptions were used in the determination of these grant date fair values using the Black-Scholes option pricing model: | ||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Risk-free interest rate | 1.40% to 1.41% | 0.80% | 0.80% | |||||||||||||||||||||||||||
Assumed dividend yield | 1.30% to 1.50% | 6% | 10% | |||||||||||||||||||||||||||
Expected option term | 4.5 years | 4.5 years | 4.5 years | |||||||||||||||||||||||||||
Volatility | 25% | 27% | 35% |
Income_Taxes_Income_Taxes_Tabl
Income Taxes Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) | ' | ||||||||||||
Income tax expense (benefit) was calculated based upon the following components of income from continuing operations before income taxes: | |||||||||||||
Fiscal | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income from continuing operations before income taxes: | |||||||||||||
United States | $ | 9.2 | $ | (78.9 | ) | $ | (146.5 | ) | |||||
Outside the United States | 204 | 197.2 | 171.9 | ||||||||||
Total income from continuing operations before taxes | $ | 213.2 | $ | 118.3 | $ | 25.4 | |||||||
The components of income tax expense (benefit) were as follows: | |||||||||||||
Fiscal | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
Federal | $ | 64.2 | $ | (32.5 | ) | $ | 74.4 | ||||||
Foreign | 46.6 | 47.7 | 38.1 | ||||||||||
State | 6.2 | 1.4 | (0.4 | ) | |||||||||
Total current | 117 | 16.6 | 112.1 | ||||||||||
Deferred: | |||||||||||||
Federal | 12.4 | 169 | (199.2 | ) | |||||||||
Foreign | (8.3 | ) | 2.1 | 5.2 | |||||||||
State | (9.6 | ) | (0.4 | ) | (3.4 | ) | |||||||
Total deferred | (5.5 | ) | 170.7 | (197.4 | ) | ||||||||
Income tax expense (benefit) | $ | 111.5 | $ | 187.3 | $ | (85.3 | ) | ||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | ||||||||||||
The differences between income taxes expected at the U.S. Federal statutory income tax rate of 35.0% and reported income tax expense (benefit) are summarized as follows: | |||||||||||||
Fiscal | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Expected income tax expense at Federal statutory rate | $ | 74.6 | $ | 41.4 | $ | 8.9 | |||||||
Valuation allowance for deferred tax assets | (47.4 | ) | 151.8 | (139.6 | ) | ||||||||
Preferred stock equity conversion feature | 4.4 | 35.6 | 54.8 | ||||||||||
Residual tax on foreign earnings | 90.9 | (7.0 | ) | 29.8 | |||||||||
Foreign rate differential | (23.1 | ) | (18.8 | ) | (14.1 | ) | |||||||
Foreign tax law changes | (7.7 | ) | — | — | |||||||||
Gain on contingent purchase price reduction | — | — | (14.3 | ) | |||||||||
Permanent items | 6.5 | 5.7 | 9.5 | ||||||||||
Non-deductible stock based compensation | 1.4 | 1.7 | — | ||||||||||
Exempt foreign income | (5.7 | ) | (5.9 | ) | (5.8 | ) | |||||||
Unrecognized tax benefits | 2.2 | 4.1 | (4.4 | ) | |||||||||
State and local income taxes | 0.8 | (32.2 | ) | (8.5 | ) | ||||||||
Dividends received deduction | — | 1.4 | (0.9 | ) | |||||||||
Inflationary adjustments | (0.5 | ) | (0.2 | ) | (0.8 | ) | |||||||
Capitalized transaction costs | 1 | 5.6 | 0.3 | ||||||||||
Other | 14.1 | 4.1 | (0.2 | ) | |||||||||
Reported income tax expense (benefit) | $ | 111.5 | $ | 187.3 | $ | (85.3 | ) | ||||||
Effective tax rate | 52.3 | % | 158.3 | % | (335.9 | )% | |||||||
Schedule of Deferred Tax Assets and Liabilities | ' | ||||||||||||
The following table summarizes the components of deferred income tax assets and liabilities: | |||||||||||||
September 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Current deferred tax assets: | |||||||||||||
Employee benefits | $ | 22.9 | $ | 15.4 | |||||||||
Restructuring | 6.3 | 7.1 | |||||||||||
Inventories and receivables | 25.6 | 24.3 | |||||||||||
Employee compensation | 6.4 | 5.4 | |||||||||||
Marketing and promotional accruals | 16 | 14.1 | |||||||||||
Capitalized transaction costs | — | 0.1 | |||||||||||
Unrealized losses on mark-to-market securities | 14.7 | 12.6 | |||||||||||
Other | 17.2 | 23.9 | |||||||||||
Valuation allowance | (66.1 | ) | (55.0 | ) | |||||||||
Total current deferred tax assets | 43 | 47.9 | |||||||||||
Current deferred tax liabilities: | |||||||||||||
Inventories and receivables | (0.7 | ) | (2.7 | ) | |||||||||
Unrealized gains | (1.2 | ) | (0.4 | ) | |||||||||
Other | (6.0 | ) | (11.7 | ) | |||||||||
Total current deferred tax liabilities | (7.9 | ) | (14.8 | ) | |||||||||
Noncurrent deferred tax assets: | |||||||||||||
Employee benefits | $ | 61.4 | $ | 49.5 | |||||||||
Restructuring and purchase accounting | 0.7 | 0.3 | |||||||||||
Net operating loss, credit and capital loss carryforwards | 930.6 | 1,029.50 | |||||||||||
Prepaid royalty | 6.6 | 7 | |||||||||||
Properties | 9 | 9.7 | |||||||||||
Capitalized transaction costs | 0.6 | 0.6 | |||||||||||
Unrealized losses on mark-to-market securities | 0.3 | 2.1 | |||||||||||
Long-term debt | — | 0.7 | |||||||||||
Intangibles | 8.5 | 3.9 | |||||||||||
Deferred acquisition costs | 0.4 | 0.4 | |||||||||||
Insurance reserves and claim related adjustments | 483.8 | 477.7 | |||||||||||
Outside basis differences on partnership interests | 43.8 | 21.3 | |||||||||||
Other | 76.6 | 32.8 | |||||||||||
Valuation allowance | (712.4 | ) | (762.2 | ) | |||||||||
Total noncurrent deferred tax assets | 909.9 | 873.3 | |||||||||||
Noncurrent deferred tax liabilities: | |||||||||||||
Properties | (22.6 | ) | (27.5 | ) | |||||||||
Unrealized gains | (20.0 | ) | (13.1 | ) | |||||||||
Intangibles | (744.1 | ) | (735.5 | ) | |||||||||
Value of business acquired | (20.8 | ) | (67.3 | ) | |||||||||
Deferred acquisition costs | (104.2 | ) | (63.7 | ) | |||||||||
Tax on unremitted foreign earnings | (2.6 | ) | (18.6 | ) | |||||||||
Investments | (338.3 | ) | (156.5 | ) | |||||||||
Funds withheld receivables | (9.7 | ) | — | ||||||||||
Long-term debt | (10.0 | ) | — | ||||||||||
Other | (19.3 | ) | (23.4 | ) | |||||||||
Total noncurrent deferred tax liabilities | (1,291.6 | ) | (1,105.6 | ) | |||||||||
Total gross deferred tax assets | $ | 952.9 | $ | 921.2 | |||||||||
Total gross deferred tax liabilities | $ | (1,299.5 | ) | $ | (1,120.4 | ) | |||||||
Schedule of Unrecognized Tax Benefits Roll Forward | ' | ||||||||||||
The following table summarizes changes to the Company’s UTB reserves, excluding related interest and penalties: | |||||||||||||
Amount | |||||||||||||
Unrecognized tax benefits at September 30, 2011 | $ | 9 | |||||||||||
Gross increase — tax positions in prior period | 0.7 | ||||||||||||
Gross decrease — tax positions in prior period | (1.3 | ) | |||||||||||
Gross increase — tax positions in current period | 0.8 | ||||||||||||
Settlements | (1.7 | ) | |||||||||||
Lapse of statutes of limitations | (1.6 | ) | |||||||||||
Unrecognized tax benefits at September 30, 2012 | 5.9 | ||||||||||||
Gross increase — tax positions in prior period | 9.1 | ||||||||||||
Gross decrease — tax positions in prior period | (0.3 | ) | |||||||||||
Gross increase — tax positions in current period | 0.5 | ||||||||||||
Settlements | (0.1 | ) | |||||||||||
Lapse of statutes of limitations | (1.3 | ) | |||||||||||
Unrecognized tax benefits at September 30, 2013 | 13.8 | ||||||||||||
Gross increase — tax positions in prior period | 2.7 | ||||||||||||
Gross decrease — tax positions in prior period | (1.4 | ) | |||||||||||
Gross increase — tax positions in current period | 0.8 | ||||||||||||
Settlements | (2.5 | ) | |||||||||||
Lapse of statutes of limitations | (0.8 | ) | |||||||||||
Unrecognized tax benefits at September 30, 2014 | $ | 12.6 | |||||||||||
Restructuring_and_related_char1
Restructuring and related charges Restructuring and related charges (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||||||||||||
Summarization of Restructuring and Related Charges | ' | ||||||||||||||||||||||||||
The following table summarizes restructuring and related charges incurred by the Global Expense Rationalization Initiatives, HHI Business Rationalization Initiatives, and the Global Cost Reduction Initiatives, as well as other initiatives which were not significant, for Fiscal 2014 and 2013 and where those charges are classified in the accompanying Consolidated Statements of Operations: | |||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||
Initiatives: | 2014 | 2013 | 2012 | Charges Since Inception | Expected Future Charges | Total Projected Costs | Expected Completion Date | ||||||||||||||||||||
Global Expense Rationalization | $ | 13.4 | $ | 11.3 | $ | — | $ | 24.7 | $ | 21.8 | $ | 46.5 | September 30, 2015 | ||||||||||||||
HHI Business Rationalization initiatives | 4.5 | — | — | 4.5 | 4.5 | 9 | September 30, 2016 | ||||||||||||||||||||
Global Cost Reduction | 1.3 | 16.4 | 18.7 | 100.7 | 4.4 | 105.1 | January 31, 2015 | ||||||||||||||||||||
Other (a) | 3.7 | 6.3 | 0.9 | ||||||||||||||||||||||||
$ | 22.9 | $ | 34 | $ | 19.6 | ||||||||||||||||||||||
Classification: | |||||||||||||||||||||||||||
Cost of consumer products and other goods sold | $ | 3.7 | $ | 10 | $ | 9.8 | |||||||||||||||||||||
Selling, acquisition, operating and general expenses | 19.2 | 24 | 9.8 | ||||||||||||||||||||||||
$ | 22.9 | $ | 34 | $ | 19.6 | ||||||||||||||||||||||
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | ' | ||||||||||||||||||||||||||
The following table summarizes restructuring and related charges incurred by type of charge and where those charges are classified in the accompanying Consolidated Statements of Operations: | |||||||||||||||||||||||||||
Year ended September 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||
Costs included in cost of goods sold: | |||||||||||||||||||||||||||
Global Expense Rationalization Initiatives: | |||||||||||||||||||||||||||
Termination benefits | $ | 1 | $ | — | $ | — | |||||||||||||||||||||
Global Cost Reduction Initiatives: | |||||||||||||||||||||||||||
Termination benefits | — | 0.2 | 2.9 | ||||||||||||||||||||||||
Other associated benefits | 0.1 | 3.3 | 6.9 | ||||||||||||||||||||||||
HHI Business and other restructuring initiatives: | |||||||||||||||||||||||||||
Termination benefits | — | 0.2 | — | ||||||||||||||||||||||||
Other associated benefits | 2.6 | 6.3 | — | ||||||||||||||||||||||||
Total included in cost of goods sold | 3.7 | 10 | 9.8 | ||||||||||||||||||||||||
Costs included in selling, acquisition, operating and general expenses: | |||||||||||||||||||||||||||
Global Expense Rationalization Initiatives: | |||||||||||||||||||||||||||
Termination benefits | 5.5 | 10.3 | — | ||||||||||||||||||||||||
Other associated benefits | 6.9 | 1.1 | — | ||||||||||||||||||||||||
Global Cost Reduction Initiatives: | |||||||||||||||||||||||||||
Termination benefits | 0.2 | 6.3 | 3.1 | ||||||||||||||||||||||||
Other associated benefits | 1 | 6.4 | 5.8 | ||||||||||||||||||||||||
HHI Business and other restructuring initiatives: | |||||||||||||||||||||||||||
Termination benefits | 4.5 | — | — | ||||||||||||||||||||||||
Other associated benefits | 1.1 | (0.1 | ) | 0.9 | |||||||||||||||||||||||
Total included in selling, acquisition, operating and general expenses: | 19.2 | 24 | 9.8 | ||||||||||||||||||||||||
Total restructuring and related charges | $ | 22.9 | $ | 34 | $ | 19.6 | |||||||||||||||||||||
Summarization of Remaining Accrual Balance Associated with Initiatives and Activity | ' | ||||||||||||||||||||||||||
The following table summarizes the remaining accrual balance associated with the initiatives and the activity during Fiscal 2014: | |||||||||||||||||||||||||||
Accrual Balance at September 30, 2013 | Provisions | Cash Expenditures | Non-Cash Items | Accrual Balance at September 30, 2014 | Expensed as Incurred (a) | ||||||||||||||||||||||
Global Expense Rationalization Initiatives: | |||||||||||||||||||||||||||
Termination benefits | $ | 7.3 | $ | 3.5 | $ | (7.0 | ) | $ | 0.3 | $ | 4.1 | $ | 3 | ||||||||||||||
Other costs | — | 1.5 | — | (0.1 | ) | 1.4 | 5.4 | ||||||||||||||||||||
7.3 | 5 | (7.0 | ) | 0.2 | 5.5 | 8.4 | |||||||||||||||||||||
Global Cost Reduction Initiatives: | |||||||||||||||||||||||||||
Termination benefits | 4.9 | 0.2 | (3.5 | ) | (0.3 | ) | 1.3 | — | |||||||||||||||||||
Other costs | 0.4 | — | (0.7 | ) | 0.5 | 0.2 | 1.1 | ||||||||||||||||||||
5.3 | 0.2 | (4.2 | ) | 0.2 | 1.5 | 1.1 | |||||||||||||||||||||
HHI Business and other restructuring initiatives: | 4.1 | 5.6 | (4.3 | ) | (0.6 | ) | 4.8 | 2.6 | |||||||||||||||||||
$ | 16.7 | $ | 10.8 | $ | (15.5 | ) | $ | (0.2 | ) | $ | 11.8 | $ | 12.1 | ||||||||||||||
___________________ | |||||||||||||||||||||||||||
(a) | Consists of amounts not impacting the accrual for restructuring and related charges. |
Earnings_Per_Share_Earnings_Pe
Earnings Per Share Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Summary of Basic and Diluted EPS | ' | |||||||||||
The following table sets forth the computation of basic and diluted EPS (share amounts in thousands): | ||||||||||||
Fiscal | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Net (loss) income attributable to common and participating preferred stockholders | $ | (83.9 | ) | $ | (94.2 | ) | $ | 29.9 | ||||
Participating shares at end of period: | ||||||||||||
Common shares outstanding | 196,878 | 138,876 | 139,357 | |||||||||
Preferred shares (as-converted basis) | — | 61,987 | 62,839 | |||||||||
Total | 196,878 | 200,863 | 202,196 | |||||||||
Percentage of income loss allocated to: | ||||||||||||
Common shares | 100 | % | 100 | % | 68.9 | % | ||||||
Preferred shares (a) | — | % | — | % | 31.1 | % | ||||||
Net (loss) income attributable to common shares - basic | $ | (83.9 | ) | $ | (94.2 | ) | $ | 20.6 | ||||
Net (loss) income attributable to common shares - diluted | $ | (83.9 | ) | $ | (94.2 | ) | $ | 20.6 | ||||
Weighted-average common shares outstanding - basic | 162,941 | 139,856 | 139,356 | |||||||||
Dilutive effect of unvested restricted stock and restricted stock units | — | — | 381 | |||||||||
Dilutive effect of stock options | — | — | 81 | |||||||||
Weighted-average shares outstanding - diluted | 162,941 | 139,856 | 139,818 | |||||||||
Net loss per common share attributable to controlling interest: | ||||||||||||
Basic | $ | (0.51 | ) | $ | (0.67 | ) | $ | 0.15 | ||||
Diluted | $ | (0.51 | ) | $ | (0.67 | ) | $ | 0.15 | ||||
(a) | Losses are not allocated to the convertible participating preferred shares since they have no contractual obligation to share in such losses. |
Commitments_and_Contingencies_
Commitments and Contingencies Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Sep. 30, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Summary of Future Minimum Rental Commitment | ' | ||||
Future minimum rental commitments under non-cancelable operating leases, principally pertaining to land, buildings and equipment, principally relating to Spectrum Brands, are as follows: | |||||
Fiscal Year | Future Minimum | ||||
Rental Commitments | |||||
2015 | $ | 49.2 | |||
2016 | 43 | ||||
2017 | 36.7 | ||||
2018 | 25.6 | ||||
2019 | 18.2 | ||||
Thereafter | 37.3 | ||||
Total minimum lease payments | $ | 210 | |||
Insurance_Subsidiary_Financial1
Insurance Subsidiary - Financial Information Insurance Subsidiary - Financial Information (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Insurance Subsidiary - Financial Information [Abstract] | ' | ||||||||
Statutory Accounting Practices Disclosure | ' | ||||||||
Statutory net income and statutory capital and surplus of FGL's wholly owned insurance subsidiaries were as follows: | |||||||||
Subsidiary (state of domicile)(a) | |||||||||
FGL Insurance (IA) (b) | FGL NY Insurance (NY) | ||||||||
Statutory Net Income: | |||||||||
Fiscal year ended September 30, 2014 (Unaudited) | $ | 180.3 | $ | 2.7 | |||||
Year ended December 31, 2013 | 118.2 | 1.3 | |||||||
Year ended December 31, 2012 | 102.2 | 1 | |||||||
Statutory Capital and Surplus: | |||||||||
September 30, 2014 (Unaudited) | $ | 1,134.40 | $ | 64.1 | |||||
31-Dec-13 | 1,108.30 | 61.9 | |||||||
December 31, 2012 | 900.5 | 41.1 | |||||||
(a) FGL NY Insurance is a subsidiary of FGL Insurance, and the columns should not be added together. |
Supplemental_Information_Relat1
Supplemental Information Relating to Oil and Natural Gas Producing Activities (Unaudited) Supplemental Information Relating to Oil and Natural Gas Producing Activities (Unaudited) (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Extractive Industries [Abstract] | ' | ||||||||||||
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure | ' | ||||||||||||
Presented below are costs incurred in oil and natural gas property acquisition, exploration and development activities (in millions, except per unit amounts): | |||||||||||||
Fiscal 2014 | Period from inception to September 30, 2013 | ||||||||||||
Proved property acquisition costs | $ | — | $ | 569.5 | |||||||||
Unproved property acquisition costs | — | 53.9 | |||||||||||
Total property acquisition costs | — | 623.4 | |||||||||||
Development | 11.4 | 11.8 | |||||||||||
Lease acquisitions and other | 0.2 | — | |||||||||||
Capitalized asset retirement costs | 0.1 | 0.1 | |||||||||||
Depletion per Boe | $ | 8.68 | $ | 10 | |||||||||
Depletion per Mcfe | $ | 1.45 | $ | 1.67 | |||||||||
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities | ' | ||||||||||||
Oil | Natural | Natural Gas Liquids (Mbbls) | Natural Gas Equivalent (Mmcfe) | ||||||||||
(Mbbls) | Gas | ||||||||||||
(Mmcf) | |||||||||||||
Inception | |||||||||||||
Purchase of reserves in place (1) | 3,940 | 331,592 | 7,353 | 399,350 | |||||||||
Discoveries and extensions (2) | 188 | 4,416 | 753 | 10,062 | |||||||||
Revisions of previous estimates: | |||||||||||||
Changes in price | (125 | ) | 13,116 | (135 | ) | 11,556 | |||||||
Other factors (3) | (296 | ) | (12,136 | ) | (1,941 | ) | (25,558 | ) | |||||
Production | (283 | ) | (14,570 | ) | (300 | ) | (18,068 | ) | |||||
September 30, 2013 | 3,424 | 322,418 | 5,730 | 377,342 | |||||||||
Discoveries and extensions (2) | 112 | 839 | 173 | 2,549 | |||||||||
Revisions of previous estimates: | |||||||||||||
Changes in price | 233 | 20,815 | 496 | 25,189 | |||||||||
Other factors (4) | 335 | (13,750 | ) | 342 | (9,688 | ) | |||||||
Production | (414 | ) | (20,882 | ) | (521 | ) | (26,492 | ) | |||||
September 30, 2014 | 3,690 | 309,440 | 6,220 | 368,900 | |||||||||
-1 | Purchases of reserves in place include the initial contribution of conventional assets from EXCO as of February 14, 2013, and the acquisition of shallow Cotton Valley assets from an affiliate of BG Group as of March 5, 2013. | ||||||||||||
-2 | New discoveries and extensions were a result of Compass’ development in the Permian basin for both Fiscal 2014 and the period from inception to September 30, 2013. | ||||||||||||
-3 | Revisions of previous estimates due to other factors were primarily due to downward adjustments in the Permian basin of 18.1 Bcfe as a result of recent performance and modifications to Compass’ development plans which extended the development beyond a five-year horizon. In addition, revisions of previous estimates due to other factors in the East Texas/North Louisiana region were 7.5 Bcfe primarily due to performance. | ||||||||||||
-4 | Revisions of previous estimates due to other factors were primarily due to downward adjustments in the East Texas/North Louisiana region of 11.5 Bcfe primarily due to recent performance. | ||||||||||||
Estimated Quantities of Proved Developed and Undeveloped Reserves | |||||||||||||
Oil | Natural | Natural Gas Liquids (Mbbls) | Mmcfe | ||||||||||
(Mbbls) | Gas | ||||||||||||
(Mmcf) | |||||||||||||
Proved developed: | |||||||||||||
30-Sep-14 | 3,356 | 304,628 | 5,145 | 355,634 | |||||||||
30-Sep-13 | 3,107 | 317,748 | 4,799 | 365,185 | |||||||||
Proved undeveloped: | |||||||||||||
30-Sep-14 | 334 | 4,812 | 1,075 | 13,266 | |||||||||
30-Sep-13 | 317 | 4,670 | 931 | 12,157 | |||||||||
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure | ' | ||||||||||||
September 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Future cash inflows | $ | 1,895.20 | $ | 1,638.50 | |||||||||
Future production costs | 914.9 | 923.7 | |||||||||||
Future development costs | 164.4 | 156 | |||||||||||
Future income taxes | 136.2 | 39.3 | |||||||||||
Future net cash flows | 679.7 | 519.5 | |||||||||||
Discount of future net cash flows at 10% per annum | 333.9 | 217.2 | |||||||||||
Standardized measure of discounted future net cash flows | $ | 345.8 | $ | 302.3 | |||||||||
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows | ' | ||||||||||||
The following are the principal sources of change in the Standardized Measure: | |||||||||||||
Fiscal 2014 | Period from inception to September 30, 2013 | ||||||||||||
Sales and transfers of oil and natural gas produced | $ | (77.4 | ) | $ | (46.2 | ) | |||||||
Net changes in prices and production costs | 141.8 | 39.2 | |||||||||||
Extensions and discoveries, net of future development and production costs | 3.5 | 8.1 | |||||||||||
Development costs during the period | 10 | 7.4 | |||||||||||
Changes in estimated future development costs | (12.0 | ) | 20.2 | ||||||||||
Revisions of previous quantity estimates | 24.2 | (50.2 | ) | ||||||||||
Purchase of reserves in place | — | 300.6 | |||||||||||
Accretion of discount before income taxes | 32.3 | 16.1 | |||||||||||
Changes in timing and other | (34.3 | ) | 27.9 | ||||||||||
Net change in income taxes | (44.6 | ) | (20.8 | ) | |||||||||
Net change | $ | 43.5 | $ | 302.3 | |||||||||
Schedule of Capitalized Costs of Unproved Properties Excluded from Amortization | ' | ||||||||||||
The following table summarizes the categories of costs comprising the amount of unproved properties not subject to amortization by the period in which such costs were incurred. There are no individually significant properties or significant development projects included in costs not being amortized. The majority of the evaluation activities are expected to be completed within one to four years. | |||||||||||||
Total | Fiscal 2014 | Period from inception to September 30, 2013 | |||||||||||
Property acquisition costs | $ | 18.9 | $ | — | $ | 18.9 | |||||||
Capitalized interest | 1.3 | 0.7 | 0.6 | ||||||||||
Total | $ | 20.2 | $ | 0.7 | $ | 19.5 | |||||||
Related_Party_Transactions_Rel
Related Party Transactions Related Party Transactions (Tables) | 12 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Related Party Transactions [Abstract] | ' | ||||||||||||||
Schedule of Related Party Transactions [Table Text Block] | ' | ||||||||||||||
The Company’s consolidated related party investments are summarized as follows: | |||||||||||||||
September 30, 2014 | |||||||||||||||
Issuer | Balance Sheet Classification | Asset carrying value | Accrued Investment Income | Total carrying value | |||||||||||
Fortress | Fixed maturities | $ | 194.9 | $ | 1.9 | $ | 196.8 | ||||||||
The Company’s related net investment income is summarized as follows: | |||||||||||||||
Fiscal | |||||||||||||||
Issuer | Investment Income Classification | 2014 | |||||||||||||
Fortress | Net investment income | $ | 1.6 | ||||||||||||
Leucadia | Net investment income | 1.1 | |||||||||||||
Jefferies | Net investment income | 1.2 | |||||||||||||
Segment_and_Georgraphic_Data_S
Segment and Georgraphic Data Segment and Georgraphic Data (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment Information | ' | ||||||||||||
Accordingly, the Company currently operates its business in four reporting segments: (i) Consumer Products, (ii) Insurance, (iii) Energy, and (iv) Asset Management. Refer to Note 29., Consolidating Financial Information, for disclosure of Total Assets for each segment. | |||||||||||||
Fiscal | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Revenues: | |||||||||||||
Consumer Products | $ | 4,429.10 | $ | 4,085.60 | $ | 3,252.40 | |||||||
Insurance | 1,349.70 | 1,348.40 | 1,221.80 | ||||||||||
Energy | 147 | 90.2 | — | ||||||||||
Asset Management | 34.2 | 28.9 | 8.6 | ||||||||||
Intersegment elimination | (17.1 | ) | (9.7 | ) | (2.1 | ) | |||||||
Consolidated segment revenues | 5,942.90 | 5,543.40 | 4,480.70 | ||||||||||
Corporate and Other | 20.1 | — | — | ||||||||||
Total revenues | $ | 5,963.00 | $ | 5,543.40 | $ | 4,480.70 | |||||||
Depreciation and amortization | |||||||||||||
Consumer Products | $ | 157.7 | $ | 139.8 | $ | 104.5 | |||||||
Insurance | 102.5 | 186.3 | 163.6 | ||||||||||
Energy | 41.8 | 32.2 | — | ||||||||||
Asset Management | 0.3 | 0.2 | 0.1 | ||||||||||
Total segments | 302.3 | 358.5 | 268.2 | ||||||||||
Corporate | 0.3 | 0.2 | 0.1 | ||||||||||
Consolidated depreciation and amortization | $ | 302.6 | $ | 358.7 | $ | 268.3 | |||||||
Operating income (loss): | |||||||||||||
Consumer Products | $ | 481.9 | $ | 351.2 | $ | 301.8 | |||||||
Insurance | 284.8 | 522.9 | 159.9 | ||||||||||
Energy | (53.7 | ) | (45.2 | ) | — | ||||||||
Asset Management | 0.7 | 10.4 | 2.5 | ||||||||||
Intersegment elimination | (17.7 | ) | (10.9 | ) | (2.1 | ) | |||||||
Total segments | 696 | 828.4 | 462.1 | ||||||||||
Corporate and eliminations | (126.5 | ) | (91.0 | ) | (52.6 | ) | |||||||
Consolidated operating income | 569.5 | 737.4 | 409.5 | ||||||||||
Interest expense | (321.9 | ) | (511.9 | ) | (251.0 | ) | |||||||
Loss from the change in the fair value of the equity conversion feature of preferred stock | (12.7 | ) | (101.6 | ) | (156.6 | ) | |||||||
Gain on contingent purchase price reduction | 0.5 | — | 41 | ||||||||||
Other expense, net | (22.2 | ) | (5.6 | ) | (17.5 | ) | |||||||
Consolidated income from continuing operations before income taxes | $ | 213.2 | $ | 118.3 | $ | 25.4 | |||||||
Fiscal | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Capital expenditures: | |||||||||||||
Consumer Products | $ | 73.4 | $ | 81.9 | $ | 46.8 | |||||||
Insurance | 9.4 | 4.1 | 6.2 | ||||||||||
Energy | 13.4 | 13.4 | — | ||||||||||
Asset Management | 0.9 | 0.3 | 0.5 | ||||||||||
Total segments | 97.1 | 99.7 | 53.5 | ||||||||||
Corporate | 1.1 | 0.4 | — | ||||||||||
Consolidated capital expenditures | $ | 98.2 | $ | 100.1 | $ | 53.5 | |||||||
September 30, | |||||||||||||
Total long-lived assets: | 2014 | 2013 | |||||||||||
Consumer Products | $ | 428.9 | $ | 412.5 | |||||||||
Insurance | 11.4 | 7 | |||||||||||
Energy | 464.4 | 572.6 | |||||||||||
Asset Management | 1.4 | 0.7 | |||||||||||
Total segments | 906.1 | 992.8 | |||||||||||
Corporate assets | 2.5 | 0.5 | |||||||||||
Consolidated total long-lived assets | $ | 908.6 | $ | 993.3 | |||||||||
Fiscal | |||||||||||||
Net change in cash due to operating activities | 2014 | 2013 | 2012 | ||||||||||
Consumer Products | $ | 432.7 | $ | 256.5 | $ | 258.7 | |||||||
Insurance | 288.1 | 336.2 | 300 | ||||||||||
Energy | 44.3 | 37.2 | — | ||||||||||
Asset Management | (4.9 | ) | 11.7 | 13.7 | |||||||||
Net change in cash due to segment operating activities | 760.2 | 641.6 | 572.4 | ||||||||||
Net change in cash due to corporate operating activities | (152.3 | ) | (119.3 | ) | 50.1 | ||||||||
Consolidated change in cash due to operating activities | $ | 607.9 | $ | 522.3 | $ | 622.5 | |||||||
Schedule of Geographical Information | ' | ||||||||||||
The Company’s geographic data disclosures are as follows: | |||||||||||||
Net consumer and other product sales to external customers: | |||||||||||||
Fiscal | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
United States | $ | 2,660.80 | $ | 2,411.40 | $ | 1,772.10 | |||||||
Outside the United States | 1,788.40 | 1,674.20 | 1,480.30 | ||||||||||
Consolidated net consumer and other product sales to external customers | $ | 4,449.20 | $ | 4,085.60 | $ | 3,252.40 | |||||||
Long-lived assets: | |||||||||||||
September 30, | |||||||||||||
2014 | 2013 | ||||||||||||
United States | $ | 733 | $ | 811.6 | |||||||||
Outside the United States | 175.6 | 181.7 | |||||||||||
Consolidated long-lived assets | $ | 908.6 | $ | 993.3 | |||||||||
Consolidating_Financial_Inform1
Consolidating Financial Information Consolidating Financial Information (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||
Consolidating Financial Information [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Balance Sheet Information | ' | ||||||||||||||||||||||||||||
Harbinger Group Inc. - Condensed Consolidating Balance Sheet Information | |||||||||||||||||||||||||||||
September 30, 2014 | Consumer Products | Insurance | Energy | Asset Management | Corporate and Other | Eliminations | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||
Investments | $ | — | $ | 18,820.70 | $ | — | $ | 584.6 | $ | 93.7 | $ | (246.5 | ) | $ | 19,252.50 | ||||||||||||||
Investments in subsidiaries and affiliates | — | 68.2 | — | — | 2,237.90 | (2,306.1 | ) | — | |||||||||||||||||||||
Affiliated loans and receivables | — | 157.2 | — | 28.5 | — | (185.7 | ) | — | |||||||||||||||||||||
Cash and cash equivalents | 194.6 | 633.8 | 14.2 | 53.5 | 423.1 | — | 1,319.20 | ||||||||||||||||||||||
Receivables, net | 515.3 | 2.1 | 23.7 | 0.9 | 43.1 | — | 585.1 | ||||||||||||||||||||||
Inventories, net | 624.5 | — | — | — | 10.7 | — | 635.2 | ||||||||||||||||||||||
Accrued investment income | — | 181.8 | — | 3.7 | — | (0.6 | ) | 184.9 | |||||||||||||||||||||
Reinsurance recoverable | — | 2,397.60 | — | — | — | — | 2,397.60 | ||||||||||||||||||||||
Deferred tax assets | 46.7 | 139 | — | — | 1.1 | (0.1 | ) | 186.7 | |||||||||||||||||||||
Properties, including oil and natural gas properties, net | 428.9 | 11.4 | 464.4 | 1.4 | 2.5 | — | 908.6 | ||||||||||||||||||||||
Goodwill | 1,469.60 | — | — | 10.7 | 44.5 | — | 1,524.80 | ||||||||||||||||||||||
Intangibles, including DAC and VOBA, net | 2,091.50 | 550.4 | — | — | 41.8 | — | 2,683.70 | ||||||||||||||||||||||
Other assets | 141.9 | 233.6 | 2.5 | 9.2 | 34.7 | — | 421.9 | ||||||||||||||||||||||
Total assets | $ | 5,513.00 | $ | 23,195.80 | $ | 504.8 | $ | 692.5 | $ | 2,933.10 | $ | (2,739.0 | ) | $ | 30,100.20 | ||||||||||||||
Liabilities and Equity: | |||||||||||||||||||||||||||||
Insurance reserves | $ | — | $ | 20,215.10 | $ | — | $ | — | $ | — | $ | — | $ | 20,215.10 | |||||||||||||||
Debt | 2,990.90 | 300 | 243.2 | 298.7 | 1,325.00 | — | 5,157.80 | ||||||||||||||||||||||
Accounts payable and other current liabilities | 816.2 | 71.9 | 31.3 | 8.5 | 104.6 | 0.5 | 1,033.00 | ||||||||||||||||||||||
Employee benefit obligations | 81.9 | — | — | — | 4.3 | — | 86.2 | ||||||||||||||||||||||
Deferred tax liabilities | 516 | — | — | — | 17.2 | 0.1 | 533.3 | ||||||||||||||||||||||
Other liabilities | 21.2 | 748.9 | 27.3 | 19.3 | 1.1 | — | 817.8 | ||||||||||||||||||||||
Affiliated debt and payables | — | 7.8 | 102.3 | 286.5 | 34.8 | (431.4 | ) | — | |||||||||||||||||||||
Total liabilities | 4,426.20 | 21,343.70 | 404.1 | 613 | 1,487.00 | (430.8 | ) | 27,843.20 | |||||||||||||||||||||
Temporary equity | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total stockholders’ equity | 612.4 | 1,526.90 | 100.7 | 68.2 | 1,441.60 | (2,308.2 | ) | 1,441.60 | |||||||||||||||||||||
Noncontrolling interests | 474.4 | 325.2 | — | 11.3 | 4.5 | — | 815.4 | ||||||||||||||||||||||
Total permanent equity | 1,086.80 | 1,852.10 | 100.7 | 79.5 | 1,446.10 | (2,308.2 | ) | 2,257.00 | |||||||||||||||||||||
Total liabilities and equity | $ | 5,513.00 | $ | 23,195.80 | $ | 504.8 | $ | 692.5 | $ | 2,933.10 | $ | (2,739.0 | ) | $ | 30,100.20 | ||||||||||||||
September 30, 2013 | Consumer Products | Insurance | Energy | Asset Management | Corporate and Other | Eliminations | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||
Investments | $ | — | $ | 16,282.30 | $ | — | $ | 389.3 | $ | 42.3 | $ | (248.0 | ) | $ | 16,465.90 | ||||||||||||||
Investment in subsidiaries and affiliates | — | 62 | — | — | 2,012.90 | (2,074.9 | ) | — | |||||||||||||||||||||
Affiliated loans and receivables | — | 150.1 | — | 0.9 | — | (151.0 | ) | — | |||||||||||||||||||||
Cash and cash equivalents | 207.3 | 1,248.30 | 18.7 | 166.5 | 258.9 | — | 1,899.70 | ||||||||||||||||||||||
Receivables, net | 546.9 | — | 22.2 | 1.2 | 41 | — | 611.3 | ||||||||||||||||||||||
Inventories, net | 632.9 | — | — | — | — | — | 632.9 | ||||||||||||||||||||||
Accrued investment income | — | 159.3 | — | 2.3 | — | (0.4 | ) | 161.2 | |||||||||||||||||||||
Reinsurance recoverable | — | 2,363.70 | — | — | — | — | 2,363.70 | ||||||||||||||||||||||
Deferred tax assets | 33 | 260.4 | — | — | — | — | 293.4 | ||||||||||||||||||||||
Properties, including oil and natural gas properties, net | 412.5 | 7 | 572.6 | 0.7 | 0.5 | — | 993.3 | ||||||||||||||||||||||
Goodwill | 1,476.70 | — | — | — | — | — | 1,476.70 | ||||||||||||||||||||||
Intangibles, including DAC and VOBA, net | 2,163.20 | 565.9 | — | — | — | — | 2,729.10 | ||||||||||||||||||||||
Other assets | 154.2 | 84.1 | 4.1 | 11.3 | 27.9 | — | 281.6 | ||||||||||||||||||||||
Total assets | $ | 5,626.70 | $ | 21,183.10 | $ | 617.6 | $ | 572.2 | $ | 2,383.50 | $ | (2,474.3 | ) | $ | 27,908.80 | ||||||||||||||
Liabilities and Equity: | |||||||||||||||||||||||||||||
Insurance reserves | $ | — | $ | 18,895.90 | $ | — | $ | — | $ | — | $ | — | $ | 18,895.90 | |||||||||||||||
Debt | 3,218.90 | 300 | 271.2 | 181.8 | 924.2 | — | 4,896.10 | ||||||||||||||||||||||
Accounts payable and other current liabilities | 849.4 | 52.9 | 32.8 | 6.3 | 71.3 | — | 1,012.70 | ||||||||||||||||||||||
Equity conversion feature of preferred stock | — | — | — | — | 330.8 | — | 330.8 | ||||||||||||||||||||||
Employee benefit obligations | 96.6 | — | — | — | 3 | — | 99.6 | ||||||||||||||||||||||
Deferred tax liabilities | 492.8 | — | — | — | — | — | 492.8 | ||||||||||||||||||||||
Other liabilities | 28.9 | 640.2 | 25.4 | 23.3 | 0.2 | — | 718 | ||||||||||||||||||||||
Affiliated debt and payables | — | 0.8 | 102.2 | 293.3 | — | (396.3 | ) | — | |||||||||||||||||||||
Total liabilities | 4,686.60 | 19,889.80 | 431.6 | 504.7 | 1,329.50 | (396.3 | ) | 26,445.90 | |||||||||||||||||||||
Temporary equity | — | — | 0.1 | — | 329.3 | — | 329.4 | ||||||||||||||||||||||
Total stockholders’ equity | 531 | 1,293.30 | 185.9 | 67.8 | 724.7 | (2,078.0 | ) | 724.7 | |||||||||||||||||||||
Noncontrolling interests | 409.1 | — | — | (0.3 | ) | — | — | 408.8 | |||||||||||||||||||||
Total permanent equity | 940.1 | 1,293.30 | 185.9 | 67.5 | 724.7 | (2,078.0 | ) | 1,133.50 | |||||||||||||||||||||
Total liabilities and equity | $ | 5,626.70 | $ | 21,183.10 | $ | 617.6 | $ | 572.2 | $ | 2,383.50 | $ | (2,474.3 | ) | $ | 27,908.80 | ||||||||||||||
Schedule of Income Statement Information | ' | ||||||||||||||||||||||||||||
Harbinger Group Inc. - Condensed Consolidating Statements of Operations Information | |||||||||||||||||||||||||||||
Year ended September 30, 2014 | Consumer Products | Insurance | Energy | Asset Management | Corporate and Other | Eliminations | Total | ||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||
Net consumer and other product sales | $ | 4,429.10 | $ | — | $ | — | $ | — | $ | 20.1 | $ | — | $ | 4,449.20 | |||||||||||||||
Oil and natural gas | — | — | 147 | — | — | — | 147 | ||||||||||||||||||||||
Insurance premiums | — | 56.6 | — | — | — | — | 56.6 | ||||||||||||||||||||||
Net investment income | — | 824.5 | — | 34.2 | — | (16.5 | ) | 842.2 | |||||||||||||||||||||
Net investment gains | — | 395.9 | — | — | — | (0.6 | ) | 395.3 | |||||||||||||||||||||
Insurance and investment product fees and other | — | 72.7 | — | — | — | — | 72.7 | ||||||||||||||||||||||
Total revenues | 4,429.10 | 1,349.70 | 147 | 34.2 | 20.1 | (17.1 | ) | 5,963.00 | |||||||||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||||
Cost of consumer products and other goods sold | 2,860.30 | — | — | — | 15.3 | — | 2,875.60 | ||||||||||||||||||||||
Oil and natural gas direct operating costs | — | — | 69.6 | — | — | — | 69.6 | ||||||||||||||||||||||
Benefits and other changes in policy reserves | — | 852.7 | — | — | — | — | 852.7 | ||||||||||||||||||||||
Selling, acquisition, operating and general expenses | 1,005.20 | 114.7 | 50.1 | 33.5 | 131.3 | 0.6 | 1,335.40 | ||||||||||||||||||||||
Impairment of oil and gas properties | — | — | 81 | — | — | — | 81 | ||||||||||||||||||||||
Amortization of intangibles | 81.7 | 97.5 | — | — | — | — | 179.2 | ||||||||||||||||||||||
Total operating costs and expenses | 3,947.20 | 1,064.90 | 200.7 | 33.5 | 146.6 | 0.6 | 5,393.50 | ||||||||||||||||||||||
Operating income (loss) | 481.9 | 284.8 | (53.7 | ) | 0.7 | (126.5 | ) | (17.7 | ) | 569.5 | |||||||||||||||||||
Equity in net income (losses) of subsidiaries | — | (6.0 | ) | — | — | 221.4 | (215.4 | ) | — | ||||||||||||||||||||
Interest expense | (202.1 | ) | (22.5 | ) | (7.7 | ) | — | (89.6 | ) | — | (321.9 | ) | |||||||||||||||||
Affiliated interest expense | — | — | (9.0 | ) | (6.0 | ) | (1.5 | ) | 16.5 | — | |||||||||||||||||||
Loss from the change in the fair value of the equity conversion feature of preferred stock | — | — | — | — | (12.7 | ) | — | (12.7 | ) | ||||||||||||||||||||
Gain on contingent purchase price reduction | — | — | — | — | 0.5 | — | 0.5 | ||||||||||||||||||||||
Other expense, net | (6.3 | ) | — | (6.5 | ) | (1.2 | ) | (4.7 | ) | (3.5 | ) | (22.2 | ) | ||||||||||||||||
Income (loss) from continuing operations before income taxes | 273.5 | 256.3 | (76.9 | ) | (6.5 | ) | (13.1 | ) | (220.1 | ) | 213.2 | ||||||||||||||||||
Income tax expense (benefit) | 59 | 54 | — | (0.1 | ) | 0.9 | (2.3 | ) | 111.5 | ||||||||||||||||||||
Net income (loss) | 214.5 | 202.3 | (76.9 | ) | (6.4 | ) | (14.0 | ) | (217.8 | ) | 101.7 | ||||||||||||||||||
Less: Net income (loss) attributable to noncontrolling interest | 88.9 | 27.2 | — | (0.4 | ) | (3.7 | ) | — | 112 | ||||||||||||||||||||
Net (loss) income attributable to controlling interest | 125.6 | 175.1 | (76.9 | ) | (6.0 | ) | (10.3 | ) | (217.8 | ) | (10.3 | ) | |||||||||||||||||
Less: Preferred stock dividends, accretion and loss on conversion | — | — | — | — | 73.6 | — | 73.6 | ||||||||||||||||||||||
Net (loss) income attributable to common and participating preferred stockholders | $ | 125.6 | $ | 175.1 | $ | (76.9 | ) | $ | (6.0 | ) | $ | (83.9 | ) | $ | (217.8 | ) | $ | (83.9 | ) | ||||||||||
Year ended September 30, 2013 | Consumer Products | Insurance | Energy | Asset Management | Corporate and Other | Eliminations | Total | ||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||
Net consumer and other product sales | $ | 4,085.60 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 4,085.60 | |||||||||||||||
Oil and natural gas | — | — | 90.2 | — | — | — | 90.2 | ||||||||||||||||||||||
Insurance premiums | — | 58.8 | — | — | — | — | 58.8 | ||||||||||||||||||||||
Net investment income | — | 715.5 | — | 28.9 | — | (9.7 | ) | 734.7 | |||||||||||||||||||||
Net investment gains | — | 511.6 | — | — | — | — | 511.6 | ||||||||||||||||||||||
Insurance and investment product fees and other | — | 62.5 | — | — | — | — | 62.5 | ||||||||||||||||||||||
Total revenues | 4,085.60 | 1,348.40 | 90.2 | 28.9 | — | (9.7 | ) | 5,543.40 | |||||||||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||||
Cost of consumer products and other goods sold | 2,695.30 | — | — | — | — | — | 2,695.30 | ||||||||||||||||||||||
Oil and natural gas direct operating costs | — | — | 44 | — | — | — | 44 | ||||||||||||||||||||||
Benefits and other changes in policy reserves | — | 531.8 | — | — | — | — | 531.8 | ||||||||||||||||||||||
Selling, acquisition, operating and general expenses | 961.3 | 111.4 | 37.1 | 18.5 | 91 | 1.2 | 1,220.50 | ||||||||||||||||||||||
Impairment of oil and natural gas properties | — | — | 54.3 | — | — | — | 54.3 | ||||||||||||||||||||||
Amortization of intangibles | 77.8 | 182.3 | — | — | — | — | 260.1 | ||||||||||||||||||||||
Total operating costs and expenses | 3,734.40 | 825.5 | 135.4 | 18.5 | 91 | 1.2 | 4,806.00 | ||||||||||||||||||||||
Operating income (loss) | 351.2 | 522.9 | (45.2 | ) | 10.4 | (91.0 | ) | (10.9 | ) | 737.4 | |||||||||||||||||||
Equity in net income of subsidiaries | — | — | — | — | 266.3 | (266.3 | ) | — | |||||||||||||||||||||
Interest expense | (375.6 | ) | (11.5 | ) | (4.7 | ) | — | (120.1 | ) | — | (511.9 | ) | |||||||||||||||||
Affiliated interest expense | — | — | (5.6 | ) | (4.1 | ) | — | 9.7 | — | ||||||||||||||||||||
Loss from the change in the fair value of the equity conversion feature of preferred stock | — | — | — | — | (101.6 | ) | — | (101.6 | ) | ||||||||||||||||||||
Other expense net | (3.5 | ) | (0.2 | ) | (1.3 | ) | — | (0.6 | ) | — | (5.6 | ) | |||||||||||||||||
Income (loss) from continuing operations before income taxes | (27.9 | ) | 511.2 | (56.8 | ) | 6.3 | (47.0 | ) | (267.5 | ) | 118.3 | ||||||||||||||||||
Income tax expense (benefit) | 27.4 | 161 | — | 0.1 | (1.2 | ) | — | 187.3 | |||||||||||||||||||||
Net (loss) income | (55.3 | ) | 350.2 | (56.8 | ) | 6.2 | (45.8 | ) | (267.5 | ) | (69.0 | ) | |||||||||||||||||
Less: Net (loss) income attributable to noncontrolling interest | (23.6 | ) | — | — | 0.4 | — | — | (23.2 | ) | ||||||||||||||||||||
Net (loss) income attributable to controlling interest | (31.7 | ) | 350.2 | (56.8 | ) | 5.8 | (45.8 | ) | (267.5 | ) | (45.8 | ) | |||||||||||||||||
Less: Preferred stock dividends, accretion and loss on conversion | — | — | — | — | 48.4 | — | 48.4 | ||||||||||||||||||||||
Net (loss) income attributable to common and participating preferred stockholders | $ | (31.7 | ) | $ | 350.2 | $ | (56.8 | ) | $ | 5.8 | $ | (94.2 | ) | $ | (267.5 | ) | $ | (94.2 | ) | ||||||||||
Year ended September 30, 2012 | Consumer Products | Insurance | Energy | Asset Management | Corporate and Other | Eliminations | Total | ||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||
Net consumer product sales | $ | 3,252.40 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3,252.40 | |||||||||||||||
Insurance premiums | — | 55.3 | — | — | — | — | 55.3 | ||||||||||||||||||||||
Net investment income | — | 716.2 | — | 8.6 | — | (2.1 | ) | 722.7 | |||||||||||||||||||||
Net investment gains (losses) | — | 410 | — | — | — | — | 410 | ||||||||||||||||||||||
Insurance and investment product fees and other | — | 40.3 | — | — | — | — | 40.3 | ||||||||||||||||||||||
Total revenues | 3,252.40 | 1,221.80 | — | 8.6 | — | (2.1 | ) | 4,480.70 | |||||||||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||||
Consumer products cost of goods sold | 2,136.80 | — | — | — | — | — | 2,136.80 | ||||||||||||||||||||||
Benefits and other changes in policy reserves | — | 777.4 | — | — | — | — | 777.4 | ||||||||||||||||||||||
Selling, acquisition, operating and general expenses | 750.1 | 123.9 | — | 6.1 | 52.6 | — | 932.7 | ||||||||||||||||||||||
Amortization of intangibles | 63.7 | 160.6 | — | — | — | — | 224.3 | ||||||||||||||||||||||
Total operating costs and expenses | 2,950.60 | 1,061.90 | — | 6.1 | 52.6 | — | 4,071.20 | ||||||||||||||||||||||
Operating income (loss) | 301.8 | 159.9 | — | 2.5 | (52.6 | ) | (2.1 | ) | 409.5 | ||||||||||||||||||||
Equity in net income (losses) of subsidiaries | — | — | — | — | 372 | (372.0 | ) | — | |||||||||||||||||||||
Interest expense | (191.9 | ) | (2.5 | ) | — | — | (56.6 | ) | — | (251.0 | ) | ||||||||||||||||||
Affiliated interest income | — | — | — | (2.1 | ) | — | 2.1 | — | |||||||||||||||||||||
Gain from the change in the fair value of the equity conversion feature of preferred stock | — | — | — | — | (156.6 | ) | — | (156.6 | ) | ||||||||||||||||||||
Gain on contingent purchase price reduction | — | 41 | — | — | — | — | 41 | ||||||||||||||||||||||
Other expense, net | (0.9 | ) | 0.1 | — | — | (16.7 | ) | — | (17.5 | ) | |||||||||||||||||||
Income from continuing operations before income taxes | 109 | 198.5 | — | 0.4 | 89.5 | (372.0 | ) | 25.4 | |||||||||||||||||||||
Income tax expense (benefit) | 60.4 | (145.7 | ) | — | — | — | — | (85.3 | ) | ||||||||||||||||||||
Net income | 48.6 | 344.2 | — | 0.4 | 89.5 | (372.0 | ) | 110.7 | |||||||||||||||||||||
Less: Net income attributable to noncontrolling interest | 21.2 | — | — | — | — | — | 21.2 | ||||||||||||||||||||||
Net income attributable to controlling interest | 27.4 | 344.2 | — | 0.4 | 89.5 | (372.0 | ) | 89.5 | |||||||||||||||||||||
Less: Preferred stock dividends and accretion and loss on conversion | — | — | — | — | 59.6 | — | 59.6 | ||||||||||||||||||||||
Net income attributable to common and participating preferred stockholders | $ | 27.4 | $ | 344.2 | $ | — | $ | 0.4 | $ | 29.9 | $ | (372.0 | ) | $ | 29.9 | ||||||||||||||
Quarterly_Results_Unaudited_Qu
Quarterly Results (Unaudited) Quarterly Results (Unaudited) (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||
Schedule of Quarterly Financial Information | ' | ||||||||||||
Quarter Ended | |||||||||||||
September 30, | June 30, | March 31, | December 31, | ||||||||||
2014 | 2014 | 2014 | 2013 | ||||||||||
Total revenues | 1,512.40 | 1,599.40 | 1,341.20 | 1,510.00 | |||||||||
Operating income | 144.9 | 229.1 | 16.2 | 179.3 | |||||||||
Net (loss) income attributable to common and participating preferred stockholders | (6.3 | ) | 49 | (87.6 | ) | (39.0 | ) | ||||||
Net (loss) income per common share attributable to controlling interest: | |||||||||||||
Basic | (0.03 | ) | 0.28 | (0.63 | ) | (0.28 | ) | ||||||
Diluted | (0.03 | ) | 0.28 | (0.63 | ) | (0.28 | ) | ||||||
Quarter Ended | |||||||||||||
September 30, | June 30, | March 31, | December 30, | ||||||||||
2013 | 2013 | 2013 | 2012 | ||||||||||
Total revenues | 1,498.60 | 1,410.60 | 1,411.90 | 1,222.30 | |||||||||
Operating income | 205.4 | 182.6 | 134 | 215.4 | |||||||||
Net (loss) income attributable to common and participating preferred stockholders | (202.3 | ) | 91.6 | (45.5 | ) | 62 | |||||||
Net (loss) income per common share attributable to controlling interest: | |||||||||||||
Basic | (1.45 | ) | 0.45 | (0.33 | ) | 0.31 | |||||||
Diluted | (1.45 | ) | 0.25 | (0.33 | ) | 0.03 | |||||||
Basis_of_Preparation_and_Natur1
Basis of Preparation and Nature of Operations Additional Information (Detail) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 18, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 28, 2013 | Feb. 14, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 23, 2013 | Feb. 28, 2013 | Sep. 23, 2013 | Feb. 28, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Feb. 14, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jul. 23, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 11, 2014 | 30-May-14 | 14-May-14 | Jan. 21, 2014 | Sep. 30, 2013 | Dec. 13, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | 30-May-14 | Mar. 05, 2013 | Mar. 05, 2013 | Sep. 30, 2014 | Dec. 18, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 18, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | 30-May-14 | |
USD ($) | USD ($) | USD ($) | 6.625% Notes | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Fidelity And Guaranty Life Holdings | Fidelity And Guaranty Life Holdings | Fidelity And Guaranty Life Holdings | Fgl Reinsurance Agreement With Fsr | Fgl Reinsurance Agreement With Fsr | Compass | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | FGL | Bankers Life Insurance Company [Member] | Bankers Life Insurance Company [Member] | Zap Com Corporation [Member] | Cotton-Valley Oil and Gas Properties | Cotton-Valley Oil and Gas Properties | United States of America, Dollars | United States of America, Dollars | United States of America, Dollars | Euro Member Countries, Euro | Euro Member Countries, Euro | Euro Member Countries, Euro | Exchange of Senior Secured Notes for Senior Unsecured Notes [Member] | Exchange of Senior Secured Notes for Senior Unsecured Notes [Member] | Exchange of Senior Secured Notes for Senior Unsecured Notes [Member] | |
Segment | 6.375% Senior Notes due 2020 | 6.375% Senior Notes due 2020 | 6.375% Senior Notes due 2020 | 6.625% Notes | 6.625% Notes | 6.625% Notes | Term Loan, due December 17, 2019 | Term Loan, due December 17, 2019 | Term Loan, due December 17, 2019 | Previous Term Loan Facility | Nine Point Five Percent Senior Secured Notes | Term Loan Due September 4, 2017 [Member] | Term Loan Due September 4, 2017 [Member] | Term Loan Due September 4, 2017 [Member] | USD ($) | USD ($) | USD ($) | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | 6.375% Senior Notes, Due April 1, 2021 | 6.375% Senior Notes, Due April 1, 2021 | 6.375% Senior Notes, Due April 1, 2021 | USD ($) | Compass Credit Agreement | USD ($) | USD ($) | 7.875% Senior Secured Notes, due July 15, 2019 | 7.875% Senior Secured Notes, due July 15, 2019 | 7.875% Senior Secured Notes, due July 15, 2019 | 7.875% Senior Secured Notes, due July 15, 2019 | 10.625% Senior Secured Notes, due November 15, 2015 | 10.625% Senior Secured Notes, due November 15, 2015 | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | USD ($) | USD ($) | USD ($) | Compass | HGI | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | HGI | HGI | HGI | ||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CAD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Maximum | Maximum | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Term Loan Due December 17, 2019 | Term Loan Due December 17, 2019 | Term Loan Due December 17, 2019 | Euro Term Loan, Due September 4, 2019 [Member] | Euro Term Loan, Due September 4, 2019 [Member] | Euro Term Loan, Due September 4, 2019 [Member] | 7.875% Senior Secured Notes, due July 15, 2019 | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | |||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Ownership Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.40% | ' | ' | 97.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Period End Date | ' | 30-Sep-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for Reinsurance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $153,000,000 | $153,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secondary offering, shares | 23,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secondary offering, price per share | $7.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt, face amount | ' | ' | ' | ' | ' | ' | 520,000,000 | ' | ' | 570,000,000 | 1,150,000,000 | 800,000,000 | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | 225,000,000 | 700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 |
Debt Instrument Issue Price As Percentage Of Principle Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.50% | 99.36% | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, interest rate | ' | ' | ' | 6.63% | 6.38% | 6.40% | 6.38% | 6.63% | 6.60% | 6.63% | ' | ' | ' | ' | 9.50% | 3.60% | ' | 3.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.38% | 0.00% | ' | ' | ' | ' | ' | ' | 7.90% | 0.00% | ' | 7.88% | 10.63% | ' | 7.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | 4.60% | 3.80% | ' | 0.00% | ' | ' | ' |
Common Stock, Par or Stated Value Per Share | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discharge of remaining outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000,000 | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | ' | 5,194,500,000 | 4,909,700,000 | ' | 520,000,000 | 520,000,000 | ' | 570,000,000 | 570,000,000 | ' | ' | ' | ' | 370,200,000 | ' | 509,900,000 | 215,000,000 | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | 300,000,000 | ' | ' | ' | ' | 1,354,400,000 | 924,200,000 | ' | 925,000,000 | ' | ' | 498,000,000 | ' | 750,000,000 | 200,000,000 | 550,000,000 | 0 | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | 0 | 513,300,000 | 513,300,000 | 283,300,000 | 225,000,000 | 0 | 320,600,000 | 350,000,000 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | ' | 1,470,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 604,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination | ' | 13,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reinsurance arrangment in percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reinsurance Recoverables, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset-based loans | ' | 811,600,000 | 560,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 136,500,000 | 166,900,000 | 331,100,000 | ' | 331,100,000 | 325,000,000 | 175,500,000 | 550,000,000 | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business combination, assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97,400,000 | 130,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of reporting segments | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Offered To Public In Initial Offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Price Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Offered To Underwriters In Initial Offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,463,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment Owned, Balance, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased and Retired During Period, Shares | ' | 5,197,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for Repurchase of Equity | ' | 65,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | $100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Significant_Accounting_Policie2
Significant Accounting Policies and Practices and Recent Accounting Pronouncements - Additional Details (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Subsidiary or Equity Method Investee [Line Items] | ' | ' | ' |
Gain on contingent purchase price reduction | $0.50 | $0 | $41 |
FGL | ' | ' | ' |
Subsidiary or Equity Method Investee [Line Items] | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 19.60% | ' | ' |
Spectrum Brands | ' | ' | ' |
Subsidiary or Equity Method Investee [Line Items] | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 41.30% | ' | ' |
Maximum | ' | ' | ' |
Subsidiary or Equity Method Investee [Line Items] | ' | ' | ' |
Interest crediting rate, policyholder liabilities | 6.00% | ' | ' |
Gas Gathering and Processing Equipment [Member] | ' | ' | ' |
Subsidiary or Equity Method Investee [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '14 years | ' | ' |
Significant_Accounting_Policie3
Significant Accounting Policies and Practices and Recent Accounting Pronouncements - Properties (Details) | 12 Months Ended |
Sep. 30, 2014 | |
Building and Building Improvements | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | '20 years |
Building and Building Improvements | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | '40 years |
Machinery, equipment and other | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | '2 years |
Machinery, equipment and other | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | '15 years |
Significant_Accounting_Policie4
Significant Accounting Policies and Practices and Recent Accounting Pronouncements - Proven and Unproven Oil and Gas Properties (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Reserve Quantities [Line Items] | ' | ' | ' |
Gain on contingent purchase price reduction | $0.50 | $0 | $41 |
Unamortized Costs Capitalized Less Related Deferred Income Taxes Exceed Ceiling Limitations, Expense | 81 | ' | ' |
Impairment of proved oil and natural gas properties | 81 | 54.3 | 0 |
Gas Gathering and Processing Equipment [Member] | ' | ' | ' |
Reserve Quantities [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '14 years | ' | ' |
Compass Production Partners [Member] | ' | ' | ' |
Reserve Quantities [Line Items] | ' | ' | ' |
Impairment of Unproved Oil and Gas Properties | 6.1 | 10.3 | ' |
Compass | ' | ' | ' |
Reserve Quantities [Line Items] | ' | ' | ' |
Impairment of proved oil and natural gas properties | 81 | 54.3 | ' |
Unproved Oil and Natural Gas Properties and Development Costs Not Being Amortized | Compass | ' | ' | ' |
Reserve Quantities [Line Items] | ' | ' | ' |
Capitalized Costs, Unproved Properties | $20.20 | ' | ' |
Oil | ' | ' | ' |
Reserve Quantities [Line Items] | ' | ' | ' |
Average Sales Prices | 99.08 | ' | ' |
Natural Gas | ' | ' | ' |
Reserve Quantities [Line Items] | ' | ' | ' |
Average Sales Prices | 4.24 | ' | ' |
Natural Gas Liquids | ' | ' | ' |
Reserve Quantities [Line Items] | ' | ' | ' |
Average Sales Prices | 43.58 | ' | ' |
Significant_Accounting_Policie5
Significant Accounting Policies and Practices and Recent Accounting Pronouncements - Goodwill and Intangibles (Details) (USD $) | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
Minimum | Maximum | Customer List, Proprietary Technology and Trade Name | Reclassifications | Reclassifications | Reclassifications | Global batteries and appliances [Member] | Hardware and home improvement [Member] | Global Pet Supplies [Member] | Home and Garden [Member] | |
Maximum | Minimum | Maximum | ||||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount | ' | ' | ' | ' | ' | ' | 87.00% | 47.00% | 80.00% | 146.00% |
Amortization period, intangible asset | '1 year | '20 years | '20 years | ' | '1 year | '3 years | ' | ' | ' | ' |
Prior Year Adjustment Reclassification Related To Indefinite Lived Intangible Assets | ' | ' | ' | $3.50 | ' | ' | ' | ' | ' | ' |
Significant_Accounting_Policie6
Significant Accounting Policies and Practices and Recent Accounting Pronouncements - Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Accounting Policies [Abstract] | ' | ' | ' |
Gain on contingent purchase price reduction | $0.50 | $0 | $41 |
Recognized income tax positions | 50.00% | ' | ' |
Significant_Accounting_Policie7
Significant Accounting Policies and Practices and Recent Accounting Pronouncements - Contractholder Funds and Furutre Policy Benefits (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
In Millions, unless otherwise specified | Minimum | Maximum | Indexed Universal Life [Member] | Indexed Universal Life [Member] | ||
Minimum | Maximum | |||||
Accounting Policies [Abstract] | ' | ' | ' | ' | ' | ' |
Interest crediting rate, policyholder liabilities | ' | ' | 0.00% | 6.00% | 0.00% | 6.00% |
Reserves for funding agreements, total | $525.80 | $554.90 | ' | ' | ' | ' |
Fair value of callateral investments | $573.20 | $604.90 | ' | ' | ' | ' |
Significant_Accounting_Policie8
Significant Accounting Policies and Practices and Recent Accounting Pronouncements - Foreign Currency Translation (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income | $243.60 | $87.70 | ' |
Conversion Gains and Losses on Foreign Investments | -11.6 | -9.4 | -1.7 |
Accumulated Translation Adjustment | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income | ($23.20) | ($4.10) | ' |
Significant_Accounting_Policie9
Significant Accounting Policies and Practices and Recent Accounting Pronouncements - Shipping and Handling Costs (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Accounting Policies [Abstract] | ' | ' | ' |
Shipping, Handling and Transportation Costs | $260.30 | $246.10 | $198.20 |
Recovered_Sheet1
Significant Accounting Policies and Practices and Recent Accounting Pronouncements - Advertising Costs (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Accounting Policies [Abstract] | ' | ' | ' |
Advertising expense | $21.50 | $23 | $20.70 |
Recovered_Sheet2
Significant Accounting Policies and Practices and Recent Accounting Pronouncements - Research and Development (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Accounting Policies [Abstract] | ' | ' | ' |
Research and development expense | $47.90 | $43.30 | $33.10 |
Recovered_Sheet3
Significant Accounting Policies and Practices and Recent Accounting Pronouncements - Overhead Reimbursement Fees (Details) (HGI Energy Holdings, LLC, Compass, USD $) | 7 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2014 |
HGI Energy Holdings, LLC | Compass | ' | ' |
Subsidiary or Equity Method Investee [Line Items] | ' | ' |
Results of Operations, General and Administrative Related to Oil and Gas Producing Activities | $4.30 | $7.50 |
Recovered_Sheet4
Significant Accounting Policies and Practices and Recent Accounting Pronouncements - Benefit Expense and Other Changes in Policy Reserves (Details) | 12 Months Ended |
Sep. 30, 2014 | |
Minimum | ' |
Schedule of Benefits and Other Changes in Policy Reserves [Line Items] | ' |
Interest crediting rate, policyholder liabilities | 0.00% |
Maximum | ' |
Schedule of Benefits and Other Changes in Policy Reserves [Line Items] | ' |
Interest crediting rate, policyholder liabilities | 6.00% |
Indexed Universal Life [Member] | Minimum | ' |
Schedule of Benefits and Other Changes in Policy Reserves [Line Items] | ' |
Interest crediting rate, policyholder liabilities | 0.00% |
Indexed Universal Life [Member] | Maximum | ' |
Schedule of Benefits and Other Changes in Policy Reserves [Line Items] | ' |
Interest crediting rate, policyholder liabilities | 6.00% |
Significant_Risks_and_Uncertai1
Significant Risks and Uncertainties (Details) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Concentration Risk [Line Items] | ' | ' | ' |
Liability for Future Policy Benefits, Period Increase (Decrease) | 4.8 | ' | ' |
Number of holdings on investment securities | 10 | ' | ' |
Percentage of total holdings in industry | 40.00% | ' | ' |
Stockholders' equity exceeded percentage | 10.00% | ' | 10.00% |
FGL | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Deferred Policy Acquisition Costs and Present Value of Future Profits, Period Increase (Decrease) | 0 | -33,100,000 | ' |
Wilton Reassurance Company | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Net amount recoverable from Wilton Re | 1,508,800,000 | 1,337,700,000 | ' |
Fair Value, Concentration of Risk, All Financial Instruments | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
FGL's investment securities in the banking industry with a fair value | 2,240,300,000 | 1,892,100,000 | ' |
Exposure of FGL's invested assets | 11.60% | 11.50% | ' |
Number of issuers in investment | 85 | ' | ' |
Fair Value, Concentration of Risk, All Financial Instruments | Fidelity And Guaranty Life Holdings | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Exposure of FGL's invested assets | 1.30% | 1.00% | ' |
Investments, Fair Value Disclosure | 250,000,000 | 150,700,000 | ' |
Concentrations of Risk and Major Customers | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Percentage of net sales from major customer | 15.70% | 18.00% | 23.00% |
Percentage of trade accounts receivable from major customers | 13.00% | 11.00% | ' |
Net sales from outside of the United States | 40.20% | 41.00% | 46.00% |
Derivatives not designated as hedging instrument | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 1,910,900,000 | 1,888,600,000 | ' |
FIA embedded derivatives | Derivatives not designated as hedging instrument | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Liability for Future Policy Benefits, Period Increase (Decrease) | ' | -45,300,000 | ' |
Contractholder funds | FIA embedded derivatives | Derivatives not designated as hedging instrument | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | ' | 1,544,400,000 | ' |
Total Stockholdersb Equity | Fidelity And Guaranty Life Holdings | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Exposure of FGL's invested assets | 4.00% | 12.00% | ' |
Number Of Investment Issuers | 4 | 19 | ' |
Investments, Fair Value Disclosure | 768,500,000 | 1,983,700,000 | ' |
Acquisitions_Schedule_of_Preli
Acquisitions - Schedule of Preliminary purchase price (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 17, 2012 | Nov. 08, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Nov. 08, 2012 | Apr. 08, 2013 | Sep. 30, 2014 | Mar. 05, 2013 | Feb. 14, 2013 | Mar. 05, 2013 | Feb. 14, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Apr. 08, 2013 |
HHI Business | HHI Business | HHI Business | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | TLM Taiwan | The Liquid Fence Company [Member] | HGI | HGI | Compass | Compass | Business Combination Measurement Period Adjustment | Business Combination Measurement Period Adjustment | Business Combination Measurement Period Adjustment | ||||
Cotton-Valley Oil and Gas Properties | Compass | Cotton-Valley Oil and Gas Properties | Shaser Biosciences, Inc. | Hardware Acquisition | Hardware Acquisition | ||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | $12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | 1.5 | ' | ' | ' | ' | ' | 50 | ' | ' | ' | ' | 24.8 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash | ' | ' | ' | ' | 24 | 17.4 | ' | ' | 0.9 | 0.9 | 0.8 | ' | 0 | 0.1 | 0 | 0.1 | 0 | ' | 5.8 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | ' | ' | ' | 489.1 | 489.1 | 470 | ' | ' | 29.3 | 35.5 | 17.1 | ' | ' | ' | ' | ' | -6.2 | 2 | 2 |
Preliminary working capital and other adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.5 | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Unproved Oil and Natural Gas Properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.2 | 65.1 | 5.4 | 48.5 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Proved Developed and Undeveloped Oil and Natural Gas Properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 130.9 | 632.2 | 97.5 | 471 | ' | ' | ' |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Oil And Natural Gas Properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 138.1 | 697.3 | 102.9 | 519.5 | ' | ' | ' |
Other long-term assets | ' | ' | ' | ' | 7.6 | 3.1 | ' | ' | 0.2 | 2.7 | 0.1 | ' | 0 | 32.7 | 0 | 24.5 | -2.5 | ' | 4.4 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Accrued Liabilities | ' | ' | ' | ' | 42.8 | 37.6 | ' | ' | ' | ' | 0.2 | ' | 0 | 10.8 | 0 | -8 | ' | ' | 5 |
Other long-term liabilities | ' | ' | ' | ' | 19.7 | 11.2 | ' | ' | ' | ' | 8.1 | ' | -7.4 | -24.8 | -5.5 | -18.5 | ' | ' | 0.4 |
Business combination, assets acquired | ' | ' | ' | ' | 661.2 | 629.4 | ' | ' | 21.6 | 24.7 | 47.9 | ' | 130.7 | 694.5 | 97.4 | 517.6 | -3.1 | ' | -16.1 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | ' | ' | ' | ' | 985.4 | 920.1 | ' | ' | 30.4 | 39.1 | 58.1 | ' | ' | ' | ' | ' | -8.7 | ' | 7.2 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | ' | ' | ' | ' | 324.2 | 290.7 | ' | ' | 8.8 | 14.4 | 10.2 | ' | ' | ' | ' | ' | -5.6 | ' | 23.3 |
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value | ' | ' | ' | ' | 3.9 | 2.2 | ' | ' | 39.1 | 39 | 0 | ' | ' | ' | ' | ' | 0.1 | ' | 1.7 |
Goodwill (Note 13) | 1,524.80 | 1,476.70 | 694.2 | ' | 717.8 | 662.1 | ' | ' | 67.2 | 63.9 | 45.6 | ' | ' | ' | ' | ' | 3.3 | ' | 10.1 |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest | ' | ' | ' | ' | 1,375.10 | 1,289.30 | ' | ' | 49.7 | 49.6 | 93.5 | ' | ' | ' | ' | ' | 0.1 | ' | -7.7 |
Business Combination, Consideration Transferred, Liabilities Incurred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.5 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred, Other | ' | ' | ' | ' | ' | ' | -0.4 | 0.1 | ' | ' | ' | 1.5 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred | ' | ' | ' | ' | ' | ' | 49.7 | ' | ' | ' | ' | 35.8 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination | $13.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 13, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Feb. 14, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Apr. 08, 2013 | Sep. 30, 2014 | Apr. 08, 2013 | Dec. 17, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 17, 2012 | Dec. 07, 2012 | Dec. 17, 2012 | Dec. 07, 2012 | Dec. 07, 2012 | Dec. 07, 2012 | Dec. 17, 2012 | Dec. 07, 2012 | Dec. 07, 2012 | Dec. 07, 2012 | Dec. 17, 2012 | Dec. 07, 2012 | Dec. 07, 2012 | Dec. 07, 2012 | Dec. 17, 2012 | Dec. 07, 2012 | Dec. 07, 2012 | Dec. 07, 2012 | Dec. 17, 2012 | Dec. 07, 2012 | Dec. 07, 2012 | Nov. 08, 2013 | Sep. 30, 2014 | Nov. 08, 2013 | Sep. 30, 2013 | Nov. 08, 2012 | Nov. 08, 2013 | Sep. 30, 2013 | Nov. 08, 2013 | Sep. 30, 2013 | Feb. 14, 2013 | Feb. 14, 2013 | Feb. 14, 2013 | Feb. 14, 2013 | Feb. 14, 2013 | Mar. 05, 2013 | Mar. 05, 2013 | Apr. 06, 2011 | Dec. 31, 2010 | Oct. 31, 2011 | Sep. 30, 2012 | Dec. 22, 2011 | Jan. 02, 2014 | Sep. 30, 2014 | Jan. 02, 2014 | Jan. 02, 2014 | Sep. 30, 2014 | Jan. 02, 2014 | Jun. 30, 2014 | Sep. 30, 2014 | 30-May-14 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | 30-May-14 |
FGL | HGI | HGI | HGI | Compass | Minimum | Maximum | Technology assets | Technology assets | Trade names | Trade names | Customer relationships | Customer relationships | Hardware Acquisition | Hardware Acquisition | Hardware Acquisition | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | HHI Business | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Compass | Compass | Compass | Compass | Compass | Cotton-Valley Oil and Gas Properties | Cotton-Valley Oil and Gas Properties | FGLH | BlackFlag | BlackFlag | FURminator | FURminator | The Liquid Fence Company [Member] | The Liquid Fence Company [Member] | The Liquid Fence Company [Member] | The Liquid Fence Company [Member] | The Liquid Fence Company [Member] | The Liquid Fence Company [Member] | FOHG [Member] | FOHG [Member] | FOHG [Member] | FOHG [Member] | FOHG [Member] | FOH [Member] | CorAmerica [Member] | CorAmerica [Member] | ||||
Minimum | Maximum | Minimum | Maximum | Minimum | Maximum | Business Combination Measurement Period Adjustment | Business Combination Measurement Period Adjustment | Business Combination Measurement Period Adjustment | Technology assets | Technology assets | Technology assets | Technology assets | Trade name license agreement | Trade name license agreement | Trade name license agreement | Trade name license agreement | Trade Name | Trade Name | Trade Name | Trade Name | Customer relationships | Customer relationships | Customer relationships | Customer relationships | Trademarks and trade names | Trademarks and trade names | Trademarks and trade names | Trademarks and trade names | Noncontrolling Interest | Noncontrolling Interest | Technology assets | Business Combination Measurement Period Adjustment | EXCO | HGI | HGI Energy Holdings, LLC | EXCO/HGI General Partner | HGI | Compass | Technology assets | Technology assets | Trade names | Customer relationships | Customer relationships | Minimum | Maximum | |||||||||||||||||||||||||||||||||
Minimum | Maximum | Minimum | Maximum | Minimum | Maximum | Minimum | Maximum | Minimum | Maximum | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Ownership Interest | ' | ' | ' | 80.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34.00% | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '17 years | ' | ' | '15 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill (Note 13) | $1,524.80 | $1,476.70 | $694.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10.10 | ' | ' | $717.80 | $662.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $67.20 | $63.90 | ' | ' | ' | $3.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $15.90 | ' | $68.50 | $7 | ' | ' | ' | ' | ' | ' | ' | $43.90 | ' | ' | ' | ' | ' |
Deferred tax liability - long-term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.8 | ' | ' | 116.4 | 104.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' |
Property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.9 | ' | ' | 138.4 | 104.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | ' | 0.7 | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | ' | ' | ' | ' | ' |
Goodwill, Purchase Accounting Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory adjustment to fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, net adjustment to fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible asset | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | -2 | ' | -489.1 | -489.1 | -470 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -29.3 | -35.5 | ' | ' | ' | 6.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -20.5 | -5.1 | ' | -1.3 | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated sales growth rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | 31.00% | ' | ' | 2.50% | 5.00% | ' | ' | 2.50% | 15.50% | ' | ' | 2.50% | 15.50% | ' | ' | 2.50% | 5.00% | ' | ' | ' | ' | ' | 3.00% | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Customer retention rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated Income tax rate | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | 17.00% | 35.00% | ' | ' | 17.00% | 35.00% | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discounted rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | ' | ' | ' | 12.00% | ' | ' | ' | 12.00% | ' | ' | ' | 12.00% | ' | ' | ' | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | 17.00% | ' | 11.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value, intangible asset | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51 | ' | ' | ' | 13 | ' | ' | ' | 4.1 | ' | ' | ' | 90 | ' | ' | ' | 331 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization period, intangible asset | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '20 years | '4 years | '17 years | '1 year | '12 years | '15 years | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | '8 years | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | 5.00% | 4.00% | ' | ' | ' | ' | ' | 1.00% | 3.50% | ' | ' | ' | ' | ' | ' | 3.00% | 5.00% | ' | ' | ' | ' | ' | ' | ' | 10.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 8.00% | ' | ' | ' |
Expected terminal year growth rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining legal life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax liabilities, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 123.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Percentage Of Equity Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24.50% | 74.40% | ' | 73.50% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination Purchase Consideration Transferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 725 | 349.8 | 574.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.7 | ' | ' | 3.9 | 2.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39.1 | 39 | ' | 39.1 | ' | 0.1 | 119.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.3 | ' | ' | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Change in Working Capital and Other Assets (Net) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preliminary working capital and other adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | 79 | 26.9 | ' | ' | ' | ' | ' | ' | ' | 41.7 | ' | ' | ' | ' | ' |
Inventory | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | ' | ' | 208.4 | 207.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.5 | ' | ' | 2.2 | ' | ' | ' | ' | ' | ' | ' | 12.4 | ' | ' | ' | ' | ' |
Business combination, assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -16.1 | ' | ' | 661.2 | 629.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21.6 | 24.7 | ' | ' | ' | -3.1 | ' | 694.5 | 517.6 | ' | ' | 130.7 | 97.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Oil And Natural Gas Properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 697.3 | 519.5 | ' | ' | 138.1 | 102.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other long-term liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | ' | ' | 19.7 | 11.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -24.8 | -18.5 | ' | ' | -7.4 | -5.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash consideration | 27.2 | 2,014.80 | 185.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Fair Value Of Contingent Purchase Price Consideration Reduction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition related charges | ' | ' | ' | ' | 4.2 | 12.7 | 3.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Gas Gathering Assets | ' | ' | ' | ' | ' | ' | ' | 21.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43.8 | ' | 141.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Current Assets (Deprecated 2013-01-31) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.7 | 1.6 | ' | ' | ' | ' | ' | ' | ' | 81.7 | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | 1.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.7 | ' | ' | 1,375.10 | 1,289.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.7 | 49.6 | ' | ' | ' | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.8 | ' | ' | ' | ' | ' | ' | ' | 13.5 | ' | ' | ' | ' | ' |
Business Combination, Liabilities Arising from Contingencies, Amount Recognized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62.00% | ' | ' | ' | ' | 17.00% |
Percentage Of Beneficial Ownership | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 88.60% | ' | ' |
Treasury Stock Acquired, Average Cost Per Share | $12.62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.27 | ' | ' | ' | ' | ' | ' | ' |
residual growth rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' |
effective income tax rate assumption | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39.30% | ' | ' | ' | ' | ' | ' |
Fair Value Inputs, Discount Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16.00% | ' | ' | ' | ' | ' | ' |
Off-market Lease, Unfavorable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Off-market Lease, Favorable, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' |
Acquisitions_Summary_of_Amount
Acquisitions - Summary of Amounts Recorded in Connection with Acquisition of Business (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | |||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Jan. 02, 2014 | 30-May-14 | Feb. 14, 2013 | Feb. 14, 2013 | Feb. 14, 2013 | Feb. 14, 2013 | Mar. 05, 2013 | Mar. 05, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 17, 2012 | Apr. 08, 2013 | Sep. 30, 2014 | Apr. 08, 2013 | Nov. 08, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Nov. 08, 2012 | Sep. 30, 2013 | Jan. 02, 2014 | Dec. 07, 2012 | Dec. 07, 2012 |
The Liquid Fence Company [Member] | The Liquid Fence Company [Member] | FOHG [Member] | EXCO/HGI General Partner | Compass | Compass | Compass | Cotton-Valley Oil and Gas Properties | Cotton-Valley Oil and Gas Properties | HHI Business | HHI Business | HHI Business | TLM Taiwan | Hardware Acquisition | Hardware Acquisition | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Shaser Biosciences, Inc. | Customer relationships | Minimum | Minimum | ||||
EXCO | EXCO | HGI | HGI | Compass | Business Combination Measurement Period Adjustment | Business Combination Measurement Period Adjustment | Business Combination Measurement Period Adjustment | The Liquid Fence Company [Member] | Trade Name | Customer relationships | ||||||||||||||||
HHI Business | HHI Business | |||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | ' | ' | ' | ' | $0 | $0.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | 12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | 1.5 | ' | ' | 24.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50 | ' | ' | ' | ' | ' | ' | ' |
Estimated Income tax rate | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.00% | 17.00% |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.1 | 0 | 0 | ' | 24 | 17.4 | 0.8 | ' | 5.8 | ' | ' | 0.9 | 0.9 | 0 | ' | ' | ' |
Accounts receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108.6 | 104.6 | 0 | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory | ' | ' | ' | ' | 2.2 | 12.4 | ' | ' | ' | ' | ' | ' | ' | 208.4 | 207.2 | 1.1 | ' | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' |
Prepaid expenses and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.3 | 13.3 | 2.2 | ' | -6.2 | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment | ' | ' | ' | ' | ' | 1.2 | ' | ' | ' | ' | ' | ' | ' | 138.4 | 104.5 | 36.8 | ' | -2.9 | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible asset | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 489.1 | 489.1 | 470 | 17.1 | 2 | 2 | ' | ' | 29.3 | 35.5 | -6.2 | 1.3 | ' | ' |
Other long-term assets | ' | ' | ' | ' | ' | ' | ' | ' | 32.7 | 24.5 | 0 | 0 | ' | 7.6 | 3.1 | 0.1 | ' | 4.4 | ' | ' | 0.2 | 2.7 | -2.5 | ' | ' | ' |
Total assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 985.4 | 920.1 | 58.1 | ' | 7.2 | ' | ' | 30.4 | 39.1 | -8.7 | ' | ' | ' |
Accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 138.1 | 130.1 | 0 | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax liability - current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.2 | 7.1 | 0 | ' | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued liabilities | ' | ' | ' | ' | ' | ' | ' | ' | -10.8 | 8 | 0 | 0 | ' | -42.8 | -37.6 | -0.2 | ' | -5 | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax liability - long-term | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | 116.4 | 104.7 | 1.9 | ' | 9.8 | ' | ' | ' | ' | ' | ' | ' | ' |
Other long-term liabilities | ' | ' | ' | ' | ' | ' | ' | ' | -24.8 | -18.5 | -7.4 | -5.5 | ' | 19.7 | 11.2 | 8.1 | ' | 0.4 | ' | ' | ' | ' | ' | ' | ' | ' |
Total liabilities assumed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 324.2 | 290.7 | 10.2 | ' | 23.3 | ' | ' | 8.8 | 14.4 | -5.6 | ' | ' | ' |
Total identifiable net assets | ' | ' | ' | ' | ' | ' | ' | ' | 694.5 | 517.6 | 130.7 | 97.4 | ' | 661.2 | 629.4 | 47.9 | ' | -16.1 | ' | ' | 21.6 | 24.7 | -3.1 | ' | ' | ' |
Non-controlling interests | ' | ' | ' | ' | ' | -8.3 | ' | -119.1 | ' | ' | ' | ' | ' | -3.9 | -2.2 | 0 | ' | -1.7 | ' | ' | -39.1 | -39 | -0.1 | ' | ' | ' |
Goodwill (Note 13) | 1,524.80 | 1,476.70 | 694.2 | ' | 7 | 43.9 | ' | ' | ' | ' | ' | ' | ' | 717.8 | 662.1 | 45.6 | ' | 10.1 | ' | ' | 67.2 | 63.9 | 3.3 | ' | ' | ' |
Total net assets acquired | ' | ' | ' | ' | 35.8 | 13.5 | ' | ' | ' | ' | ' | ' | ' | 1,375.10 | 1,289.30 | 93.5 | ' | -7.7 | ' | ' | 49.7 | 49.6 | 0.1 | ' | ' | ' |
Oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unproved oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | 65.1 | 48.5 | 7.2 | 5.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proved developed and undeveloped oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | 632.2 | 471 | 130.9 | 97.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | 697.3 | 519.5 | 138.1 | 102.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Percentage Of Equity Interests Acquired | ' | ' | ' | ' | ' | ' | 50.00% | 24.50% | 74.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preliminary working capital and other adjustments | ' | ' | ' | ' | ' | ' | ' | ' | 30.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | ' | ' | ' | ' | 26.9 | 41.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | ' | ' | ' | ' | 30.4 | 59.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | ' | ' | ' | ' | 1.6 | 81.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination Purchase Consideration Transferred | ' | ' | ' | ' | ' | ' | ' | -725 | -349.8 | -574.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred, Liabilities Incurred | ' | ' | ' | 9.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred, Other | ' | ' | ' | 1.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.4 | 0.1 | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred | ' | ' | ' | 35.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.7 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination | 13.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | ' | ' | ' | ' | 1.2 | 0.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | ' | ' | ' | ' | 0.1 | 2.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | ' | ' | ' | ' | $28.80 | ($22.10) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Components_of_Net
Acquisitions - Components of Net Deferred Tax Assets (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Business Acquisition [Line Items] | ' | ' |
Deferred tax assets,net | $186.70 | $293.40 |
Deferred Tax Liabilities, Net | 1,299.50 | 1,120.40 |
Deferred Tax Assets, Net | $952.90 | $921.20 |
Acquisitions_Companys_Pro_Form
Acquisitions - Company's Pro Forma Results (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Business Acquisition Actual Revenue And Pre Tax Income Loss [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Period End Date | ' | ' | ' | ' | ' | ' | ' | ' | 30-Sep-14 | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | $5,963,000,000 | $5,543,400,000 | $4,480,700,000 |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pro forma revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,788,900,000 | 5,603,600,000 |
Net income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pro forma net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | -64,500,000 | 180,000,000 |
Basic net income per common share attributable to controlling interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in dollars per share) | ($0.03) | $0.28 | ($0.63) | ($0.28) | ($1.45) | $0.45 | ($0.33) | $0.31 | ($0.51) | ($0.67) | $0.15 |
Pro forma net income per common share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.63) | $0.65 |
Earnings Per Share, Diluted | ($0.03) | $0.28 | ($0.63) | ($0.28) | ($1.45) | $0.25 | ($0.33) | $0.03 | ($0.51) | ($0.67) | $0.15 |
Pro forma diluted net income per common share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.63) | $0.64 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -321,900,000 | -511,900,000 | -251,000,000 |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pro forma net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | -69,000,000 | 110,700,000 |
HHI Business | Scenario, Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pro forma revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 191,800,000 | 973,600,000 |
Net income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pro forma net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,900,000 | 76,100,000 |
Basic net income per common share attributable to controlling interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pro forma net income per common share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.04 | $0.55 |
Pro forma diluted net income per common share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.04 | $0.54 |
Compass | Scenario, Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pro forma revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53,700,000 | 149,300,000 |
Net income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pro forma net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | -400,000 | -6,800,000 |
Basic net income per common share attributable to controlling interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pro forma net income per common share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ($0.05) |
Pro forma diluted net income per common share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ($0.05) |
HGI | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Actual Revenue And Pre Tax Income Loss [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Basic net income per common share attributable to controlling interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ($89,700,000) | ($120,100,000) | ($56,600,000) |
10.625% Senior Secured Notes, due November 15, 2015 | HGI | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic net income per common share attributable to controlling interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, interest rate | ' | ' | ' | ' | ' | ' | ' | 10.63% | ' | ' | ' |
Acquisitions_Summary_of_Acquis
Acquisitions - Summary of Acquisition and Integration Related Charges Incurred (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Business Acquisition [Line Items] | ' | ' | ' |
Total acquisition and integration related charges | $24.40 | $62.40 | $34.80 |
SB/RH Merger | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Integration costs | 0 | 3.5 | 10.2 |
Legal and professional fees | 0 | 0 | 1.5 |
Employee termination charges | 2.4 | 0.2 | 3.9 |
Total acquisition and integration related charges | 2.4 | 3.7 | 15.6 |
HHI Business | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Integration costs | 8.7 | 8.9 | 0 |
Legal and professional fees | 2.2 | 27.7 | 0 |
Employee termination charges | 0.2 | 0.3 | 0 |
Total acquisition and integration related charges | 11.1 | 36.9 | 0 |
Compass | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Total acquisition and integration related charges | 0.8 | 9.2 | 0 |
CorAmerica [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Total acquisition and integration related charges | 1.1 | 0 | 0 |
FOH [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Total acquisition and integration related charges | 0.1 | 0 | 0 |
Liquid Fence [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Total acquisition and integration related charges | 3.5 | 0 | 0 |
FURminator | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Total acquisition and integration related charges | 0.1 | 2.3 | 7.9 |
BlackFlag | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Total acquisition and integration related charges | 0 | 0.2 | 3.4 |
Shaser Biosciences, Inc. | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Total acquisition and integration related charges | 0.9 | 4.8 | 0 |
Other | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Total acquisition and integration related charges | $4.40 | $5.30 | $7.90 |
Investments_Consolidated_Inves
Investments - Consolidated Investments (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Schedule of Investments [Line Items] | ' | ' |
Document Period End Date | 30-Sep-14 | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | $16,468.70 | ' |
Available For Sale Securities Carrying Value | 19,252.50 | 16,465.90 |
Unrealized Amortized Cost On Securities | 18,409.80 | 16,190.10 |
Investments, Unrealized Gains | 1,001.10 | 587.3 |
Investments, Unrealized Losses | -158.4 | -311.5 |
Available For Sale Securities Fair Value | 19,252.50 | 16,465.90 |
Equity Securities | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available For Sale Securities Carrying Value | 768.1 | 352.5 |
Available-for-sale Equity Securities, Amortized Cost Basis | 786.9 | 394.7 |
Available-for-sale Equity Securities, Accumulated Gross Unrealized Gain, before Tax | 31.2 | 7.3 |
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax | -50 | -49.5 |
Available-for-sale Securities, Equity Securities | 768.1 | 352.5 |
Equity Securities | Available-for-sale | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available For Sale Securities Carrying Value | 663.6 | 271 |
Available-for-sale Equity Securities, Amortized Cost Basis | 645.7 | 274.6 |
Available-for-sale Equity Securities, Accumulated Gross Unrealized Gain, before Tax | 23 | 6.7 |
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax | -5.1 | -10.3 |
Available-for-sale Securities, Equity Securities | 663.6 | 271 |
Equity Securities | Held for trading | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available For Sale Securities Carrying Value | 104.5 | 81.5 |
Available-for-sale Equity Securities, Amortized Cost Basis | 141.2 | 120.1 |
Available-for-sale Equity Securities, Accumulated Gross Unrealized Gain, before Tax | 8.2 | 0.6 |
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax | -44.9 | -39.2 |
Available-for-sale Securities, Equity Securities | 104.5 | 81.5 |
Fixed-maturity securities, available-for-sale | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 16,468.70 | 15,062.10 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 846.5 | 491.5 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | -103.7 | -253.6 |
Available-for-sale Securities, Debt Securities | 17,211.50 | 15,300 |
Available For Sale Securities Carrying Value | 17,211.50 | 15,300 |
Fixed-maturity securities, available-for-sale | Asset-backed securities | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 1,800.80 | 1,505.70 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 10.9 | 22.6 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | -18.8 | -5.2 |
Available-for-sale Securities, Debt Securities | 1,792.90 | 1,523.10 |
Available For Sale Securities Carrying Value | 1,792.90 | 1,523.10 |
Fixed-maturity securities, available-for-sale | Commercial mortgage-backed securities | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 617.6 | 431.3 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 21.3 | 24.7 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | -2 | -1.6 |
Available-for-sale Securities, Debt Securities | 636.9 | 454.4 |
Available For Sale Securities Carrying Value | 636.9 | 454.4 |
Fixed-maturity securities, available-for-sale | Corporates | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 9,345.50 | 9,314.70 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 499.2 | 288.7 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | -48.9 | -185.1 |
Available-for-sale Securities, Debt Securities | 9,795.80 | 9,418.30 |
Available For Sale Securities Carrying Value | 9,795.80 | 9,418.30 |
Fixed-maturity securities, available-for-sale | Hybrids | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 1,279.10 | 412.6 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 52.2 | 19.5 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | -15.2 | -3.3 |
Available-for-sale Securities, Debt Securities | 1,316.10 | 428.8 |
Available For Sale Securities Carrying Value | 1,316.10 | 428.8 |
Fixed-maturity securities, available-for-sale | Municipals | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 1,149.90 | 998.8 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 116.2 | 49 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | -6.3 | -40.8 |
Available-for-sale Securities, Debt Securities | 1,259.80 | 1,007 |
Available For Sale Securities Carrying Value | 1,259.80 | 1,007 |
Fixed-maturity securities, available-for-sale | Agency Residential Mortgage Backed Securities | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 104.3 | 96.5 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 3.1 | 2.4 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | -0.1 | -0.3 |
Available-for-sale Securities, Debt Securities | 107.3 | 98.6 |
Available For Sale Securities Carrying Value | 107.3 | 98.6 |
Fixed-maturity securities, available-for-sale | Non-agency residential mortgage-backed securities | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 1,880.50 | 1,304 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 137.2 | 77.4 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | -11 | -13.4 |
Available-for-sale Securities, Debt Securities | 2,006.70 | 1,368 |
Available For Sale Securities Carrying Value | 2,006.70 | 1,368 |
Fixed-maturity securities, available-for-sale | U.S. Government | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 291 | 998.5 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 6.4 | 7.2 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | -1.4 | -3.9 |
Available-for-sale Securities, Debt Securities | 296 | 1,001.80 |
Available For Sale Securities Carrying Value | 296 | 1,001.80 |
Asset based loan receivables [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Trading Securities, Cost | 811.6 | 560.4 |
Other Investments Gross Unrealized Gain | ' | ' |
Other Short Term Investments Gross Unrealized Losses | ' | ' |
Trading Securities | 811.6 | 560.4 |
Derivative Financial Instruments, Assets [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Trading Securities, Cost | 177.7 | 141.7 |
Other Investments Gross Unrealized Gain | 123.3 | 88.5 |
Other Short Term Investments Gross Unrealized Losses | -4.7 | -8.4 |
Trading Securities | 296.3 | 221.8 |
Other invested assets | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Trading Securities, Cost | ' | 31.2 |
Other Investments Gross Unrealized Gain | ' | ' |
Other Short Term Investments Gross Unrealized Losses | ' | ' |
Trading Securities | 165 | 31.2 |
Other invested assets | Other invested assets | Policy loans and other invested assets | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Trading Securities, Cost | 164.9 | ' |
Other Investments Gross Unrealized Gain | $0.10 | ' |
Investments_Amortized_Cost_and
Investments - Amortized Cost and Fair Value of Fixed Maturity Available-for-Sale Securities (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Security | Security | |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Document Period End Date | 30-Sep-14 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $108.80 | $263.90 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,577.10 | 5,405.90 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 69.4 | 28 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 4,862.60 | 5,925.90 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 39.4 | 235.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,285.50 | 520 |
Total fixed maturity available-for-sale securities, Amortized Cost | 16,468.70 | ' |
Total fixed maturity available-for-sale securities, Fair Value | 17,211.50 | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 319 | 588 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 310 | 78 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 629 | 666 |
U.S. Government | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 1.4 | 3.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 37.3 | 753.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1.3 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 119 | 753.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.1 | 3.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 81.7 | ' |
Asset-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 18.8 | 5.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 825.8 | 329.3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 7 | 0.7 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,114 | 410.8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 11.8 | 4.5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 288.2 | 81.5 |
Commercial mortgage-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 2 | 1.6 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 160.3 | 26.6 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1.1 | 1.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 160.7 | 31.5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.9 | 0.5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0.4 | 4.9 |
Other securities which provide for periodic payments, Amortized Cost | 617.6 | ' |
Other securities which provide for periodic payments, Fair Value | 636.9 | ' |
Structured hybrids | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Other securities which provide for periodic payments, Amortized Cost | 474.5 | ' |
Other securities which provide for periodic payments, Fair Value | 472 | ' |
Agency Residential Mortgage Backed Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0.1 | 0.3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 24.1 | 9.8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | ' | 0.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 24.7 | 10.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.1 | 0.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0.6 | 1.1 |
Other securities which provide for periodic payments, Amortized Cost | 104.3 | ' |
Other securities which provide for periodic payments, Fair Value | 107.3 | ' |
Non-agency residential mortgage-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 11 | 13.4 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 274.4 | 325.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 5.3 | 1.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 451.4 | 395.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 5.7 | 12.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 177 | 69.9 |
Other securities which provide for periodic payments, Amortized Cost | 1,880.50 | ' |
Other securities which provide for periodic payments, Fair Value | 2,006.70 | ' |
Corporates | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 48.9 | 185.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 816.6 | 3,457.20 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 32.6 | 10.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,944.40 | 3,643.20 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 16.3 | 175 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,127.80 | 186 |
Equities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 5.1 | 10.3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 180.4 | 118.6 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2.9 | 1.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 235.3 | 150.8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2.2 | 9.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 54.9 | 32.2 |
Hybrids | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 15.2 | 3.3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 258.2 | 52 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 12.9 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 548.2 | 52 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2.3 | 3.3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 290 | ' |
Municipals | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 6.3 | 40.8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ' | 333.3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 6.3 | 13.5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 264.9 | 477.7 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | ' | 27.3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 264.9 | 144.4 |
Non-structured Hybrids | Corporate | Municipal | U.S. Government | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Due in one year or less, Amortized Cost | 370 | ' |
Due after one year through five years, Amortized Cost | 2,297.60 | ' |
Due after five years through ten years, Amortized Cost | 3,128.90 | ' |
Due after ten years, Amortized Cost | 5,794.50 | ' |
Subtotal, Amortized Cost | 11,591 | ' |
Due in one year or less, Fair Value | 372.8 | ' |
Due after one year through five years, Fair Value | 2,360.20 | ' |
Due after five years through ten years, Fair Value | 3,232.70 | ' |
Due after ten years, Fair Value | 6,230 | ' |
Subtotal, Fair Value | 12,195.70 | ' |
Fixed-maturity securities, available-for-sale | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total fixed maturity available-for-sale securities, Amortized Cost | 16,468.70 | 15,062.10 |
Available-for-sale Securities, Debt Securities | 17,211.50 | 15,300 |
Fixed-maturity securities, available-for-sale | U.S. Government | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total fixed maturity available-for-sale securities, Amortized Cost | 291 | 998.5 |
Available-for-sale Securities, Debt Securities | 296 | 1,001.80 |
Fixed-maturity securities, available-for-sale | Asset-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total fixed maturity available-for-sale securities, Amortized Cost | 1,800.80 | 1,505.70 |
Available-for-sale Securities, Debt Securities | 1,792.90 | 1,523.10 |
Fixed-maturity securities, available-for-sale | Commercial mortgage-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total fixed maturity available-for-sale securities, Amortized Cost | 617.6 | 431.3 |
Available-for-sale Securities, Debt Securities | 636.9 | 454.4 |
Fixed-maturity securities, available-for-sale | Agency Residential Mortgage Backed Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total fixed maturity available-for-sale securities, Amortized Cost | 104.3 | 96.5 |
Available-for-sale Securities, Debt Securities | 107.3 | 98.6 |
Fixed-maturity securities, available-for-sale | Non-agency residential mortgage-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total fixed maturity available-for-sale securities, Amortized Cost | 1,880.50 | 1,304 |
Available-for-sale Securities, Debt Securities | 2,006.70 | 1,368 |
Fixed-maturity securities, available-for-sale | Corporates | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total fixed maturity available-for-sale securities, Amortized Cost | 9,345.50 | 9,314.70 |
Available-for-sale Securities, Debt Securities | 9,795.80 | 9,418.30 |
Fixed-maturity securities, available-for-sale | Hybrids | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total fixed maturity available-for-sale securities, Amortized Cost | 1,279.10 | 412.6 |
Available-for-sale Securities, Debt Securities | 1,316.10 | 428.8 |
Fixed-maturity securities, available-for-sale | Municipals | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total fixed maturity available-for-sale securities, Amortized Cost | 1,149.90 | 998.8 |
Available-for-sale Securities, Debt Securities | $1,259.80 | $1,007 |
Investments_Fair_Value_and_Gro
Investments - Fair Value and Gross Unrealized Losses of Available-for-Sale Securities (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Security | Security | |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Document Period End Date | 30-Sep-14 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $2,577.10 | $5,405.90 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 39.4 | 235.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,285.50 | 520 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 69.4 | 28 |
Total, Fair Value | 4,862.60 | 5,925.90 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 108.8 | 263.9 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 319 | 588 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 310 | 78 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 629 | 666 |
Asset-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 825.8 | 329.3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 11.8 | 4.5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 288.2 | 81.5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 7 | 0.7 |
Total, Fair Value | 1,114 | 410.8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 18.8 | 5.2 |
Commercial mortgage-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 160.3 | 26.6 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.9 | 0.5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0.4 | 4.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1.1 | 1.1 |
Total, Fair Value | 160.7 | 31.5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 2 | 1.6 |
Corporates | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 816.6 | 3,457.20 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 16.3 | 175 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,127.80 | 186 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 32.6 | 10.1 |
Total, Fair Value | 1,944.40 | 3,643.20 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 48.9 | 185.1 |
Equities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 180.4 | 118.6 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2.2 | 9.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 54.9 | 32.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2.9 | 1.2 |
Total, Fair Value | 235.3 | 150.8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 5.1 | 10.3 |
Hybrids | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 258.2 | 52 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2.3 | 3.3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 290 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 12.9 | ' |
Total, Fair Value | 548.2 | 52 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 15.2 | 3.3 |
Municipals | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ' | 333.3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | ' | 27.3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 264.9 | 144.4 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 6.3 | 13.5 |
Total, Fair Value | 264.9 | 477.7 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 6.3 | 40.8 |
Agency Residential Mortgage Backed Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 24.1 | 9.8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.1 | 0.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0.6 | 1.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | ' | 0.2 |
Total, Fair Value | 24.7 | 10.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0.1 | 0.3 |
Non-agency residential mortgage-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 274.4 | 325.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 5.7 | 12.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 177 | 69.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 5.3 | 1.2 |
Total, Fair Value | 451.4 | 395.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 11 | 13.4 |
U.S. Government | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 37.3 | 753.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.1 | 3.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 81.7 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1.3 | ' |
Total, Fair Value | 119 | 753.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $1.40 | $3.90 |
Investments_Reconciliation_of_
Investments - Reconciliation of Other than Temporary Impairment on Fixed Maturity (Detail) (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2010 |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' | ' | ' |
Beginning balance | $2.70 | $2.70 | $2.70 | $2.70 | $0.70 |
Increases attributable to credit losses on securities: | ' | ' | ' | ' | ' |
Other-than-temporary impairment was previously recognized | 0 | 0 | 0.1 | ' | ' |
Other-than-temporary impairment was not previously recognized | 0 | 0 | 1.9 | ' | ' |
Ending balance | $2.70 | $2.70 | $2.70 | $2.70 | $0.70 |
OtherthanTemporary_Impairments
- Other-than-Temporary Impairments (Detail) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Total other-than-temporary impairments | $0.70 | ' | $22.80 | ' |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Other | 0.7 | 2.9 | ' | ' |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Including Credit Impairments | 0.6 | 0.8 | 5.7 | ' |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Change Of Intent Operations | 0.1 | 2.2 | 17.1 | ' |
Amortized Cost Of Investments With Other Than Temporary Impairments | 1.8 | 9.6 | ' | 162.3 |
Fair value on other than temporary impairments | 1.1 | 6.7 | ' | 138 |
Corporates | ' | ' | ' | ' |
Total other-than-temporary impairments | 0 | 1.2 | 4.1 | ' |
Municipal Debt Securities [Member] | ' | ' | ' | ' |
Total other-than-temporary impairments | 0.3 | ' | ' | ' |
Non-agency residential mortgage-backed securities | ' | ' | ' | ' |
Total other-than-temporary impairments | 0.1 | 1.2 | 7.5 | ' |
Hybrids | ' | ' | ' | ' |
Total other-than-temporary impairments | 0 | 0 | 9.7 | ' |
Other invested assets | ' | ' | ' | ' |
Total other-than-temporary impairments | $0.30 | $0.50 | $1.50 | ' |
Investments_Portfolio_of_Asset
Investments - Portfolio of Asset-Backed Loans and Other Invested Assets (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | |||
Asset-backed loans, by major industry: | ' | ' | ' |
Total asset-based loans | $818.80 | $565.60 | $565.60 |
Less: Allowance for loan losses | 7.2 | 5.2 | ' |
Total asset-based loans, net | 811.6 | 560.4 | ' |
Electronics [Member] | ' | ' | ' |
Asset-backed loans, by major industry: | ' | ' | ' |
Total asset-based loans | 245.4 | ' | ' |
Transportation [Member] | ' | ' | ' |
Asset-backed loans, by major industry: | ' | ' | ' |
Total asset-based loans | 44.3 | 85.7 | ' |
Wholesale | ' | ' | ' |
Asset-backed loans, by major industry: | ' | ' | ' |
Total asset-based loans | 191.6 | 252.9 | ' |
Apparel | ' | ' | ' |
Asset-backed loans, by major industry: | ' | ' | ' |
Total asset-based loans | 100.1 | 125.8 | ' |
Jewelry | ' | ' | ' |
Asset-backed loans, by major industry: | ' | ' | ' |
Total asset-based loans | 13.9 | 25.1 | ' |
Other | ' | ' | ' |
Asset-backed loans, by major industry: | ' | ' | ' |
Total asset-based loans | 94.9 | 41.8 | ' |
Home Furnishings [Member] | ' | ' | ' |
Asset-backed loans, by major industry: | ' | ' | ' |
Total asset-based loans | 71.7 | ' | ' |
Manufacturing [Member] | ' | ' | ' |
Asset-backed loans, by major industry: | ' | ' | ' |
Total asset-based loans | $56.90 | $34.30 | ' |
Investments_Schedule_of_Allowa
Investments - Schedule of Allowance for Credit Losses (Detail) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Total asset-based loans | $818.80 | $565.60 | $565.60 | ' |
Allowance for Credit Losses on Asset Backed Securities [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of year | 5.2 | 1.4 | ' | 5.2 |
Provision for credit losses | 2 | 3.8 | 1.4 | ' |
Balance at end of year | 7.2 | 5.2 | 1.4 | 5.2 |
Pass [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Total asset-based loans | 195.3 | 306.9 | ' | ' |
Special Mention [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Total asset-based loans | 372.7 | 36.7 | ' | ' |
Substandard [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Total asset-based loans | 250.8 | 222 | ' | ' |
Doubtful [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Total asset-based loans | ' | ' | ' | ' |
Investments_Credit_Quality_Ind
Investments - Credit Quality Indicators (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total asset-based loans | $818.80 | $565.60 | $565.60 |
Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total asset-based loans | 195.3 | 306.9 | ' |
Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total asset-based loans | 372.7 | 36.7 | ' |
Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total asset-based loans | 250.8 | 222 | ' |
Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total asset-based loans | ' | ' | ' |
Investments_Net_Investment_Inc
Investments - Net Investment Income (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Schedule of Investments [Line Items] | ' | ' | ' |
Gross investment income | $859.80 | $751.50 | $734.40 |
External investment expense | -17.1 | -16.8 | -11.7 |
Net investment income | 842.2 | 734.7 | 722.7 |
Fixed maturity available-for-sale securities | ' | ' | ' |
Schedule of Investments [Line Items] | ' | ' | ' |
Gross investment income | 784.8 | 686.2 | 707.1 |
Equity available-for-sale securities | ' | ' | ' |
Schedule of Investments [Line Items] | ' | ' | ' |
Gross investment income | 24.7 | 14.8 | 14 |
Policy loans | ' | ' | ' |
Schedule of Investments [Line Items] | ' | ' | ' |
Gross investment income | 0.7 | 0.8 | 0.7 |
Invested cash and short-term investments | ' | ' | ' |
Schedule of Investments [Line Items] | ' | ' | ' |
Gross investment income | 0.3 | 1.4 | 4.9 |
Asset based loan receivables [Member] | ' | ' | ' |
Schedule of Investments [Line Items] | ' | ' | ' |
Gross investment income | 41.5 | 35.4 | 8.6 |
Other investments | ' | ' | ' |
Schedule of Investments [Line Items] | ' | ' | ' |
Gross investment income | $7.10 | $12.90 | ($0.90) |
Investments_Net_Investment_Gai
Investments - Net Investment Gains (Losses) (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Net realized gains before other-than-temporary impairments | $101.90 | $332.90 | $287.20 |
Gross other-than-temporary impairments | -0.6 | -2.9 | -24.3 |
Non-credit portion of other-than-temporary impairments included in other comprehensive income | ' | ' | 1.5 |
Net realized gains on fixed maturity available-for-sale securities | 101.3 | 330 | 264.4 |
Realized gains on equity securities | 13.5 | 12.6 | 0.9 |
Net realized gains on securities | 114.8 | 342.6 | 265.3 |
Realized gains (losses) on certain derivative instruments | 37.7 | 148.6 | -10.3 |
Unrealized gains on certain derivative instruments | 233.8 | 20.5 | 156.3 |
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | -0.1 | 0 | 0 |
Change in fair value of derivatives | 271.4 | 169.1 | 146 |
Realized gains (losses) on other invested assets | 9.1 | -0.1 | -1.3 |
Net investment gains | 395.3 | 511.6 | 410 |
Net Investment Income | ' | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Available For Sale Securities On Fixed Maturity Under Commitment Agreement | 5,033.40 | 8,986.90 | 4,603 |
Available-for-sale Securities, Gross Realized Gains | 108.5 | 351.2 | 295.9 |
Available-for-sale Securities, Gross Realized Losses | ($4.90) | $18.30 | $13.80 |
Investments_Cash_Flows_from_Co
Investments - Cash Flows from Consolidated Investing Activities by Security (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Proceeds from investments sold, matured or repaid | $5,609.20 | $9,432.20 | $6,206.70 |
Cost of investments acquired | -7,221.40 | -8,940.80 | -5,972.70 |
Available-for-sale Securities | ' | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Proceeds from investments sold, matured or repaid | ' | 8,986.90 | 5,833.40 |
Cost of investments acquired | -6,741.20 | -8,757.50 | -5,640.10 |
Held-to-maturity Securities | ' | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Proceeds from investments sold, matured or repaid | ' | ' | 109.6 |
Cost of investments acquired | ' | ' | -68.7 |
Trading (acquired for holding) | ' | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Proceeds from investments sold, matured or repaid | 54.9 | 92.9 | 106.1 |
Cost of investments acquired | -99.7 | -20.8 | -122.3 |
Derivative and other | ' | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Proceeds from investments sold, matured or repaid | 470.2 | 352.4 | 157.6 |
Cost of investments acquired | -380.5 | -162.5 | -141.6 |
Net Investment Income | ' | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Available For Sale Securities On Fixed Maturity Under Commitment Agreement | 5,033.40 | 8,986.90 | 4,603 |
Net Investment Income | Available-for-sale Securities | ' | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Proceeds from investments sold, matured or repaid | $5,084.10 | ' | ' |
Investments_Additional_Informa
Investments - Additional Information (Detail) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' | ' |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Other | $0.70 | $2.90 | ' | ' |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Including Credit Impairments | 0.6 | 0.8 | 5.7 | ' |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Change Of Intent Operations | 0.1 | 2.2 | 17.1 | ' |
Amortized Cost Of Investments With Other Than Temporary Impairments | 1.8 | 9.6 | ' | 162.3 |
Fair value on other than temporary impairments | 1.1 | 6.7 | ' | 138 |
Change-of-intent, and non-credit losses in other comprehensive income | ' | 1.5 | ' | ' |
Total other-than-temporary impairments | 0.7 | ' | 22.8 | ' |
Non-agency residential mortgage-backed securities | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Unrealized gains included in AOCI related to the non-credit portion of other than-temporary impairments on non-agency residential-mortgage-backed securities | 0.9 | ' | ' | ' |
Unrealized losses included in AOCI related to the non-credit portion of other than-temporary impairments on non-agency residential-mortgage-backed securities | ' | -1.9 | ' | ' |
Securities held on deposit with various state regulatory authorities, fair value | 15,009.30 | ' | 19.4 | ' |
Total other-than-temporary impairments | 0.1 | 1.2 | 7.5 | ' |
Net Investment Income | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Available For Sale Securities On Fixed Maturity Under Commitment Agreement | 5,033.40 | 8,986.90 | 4,603 | ' |
Available-for-sale Securities, Gross Realized Gains | 108.5 | 351.2 | 295.9 | ' |
Available-for-sale Securities, Gross Realized Losses | -4.9 | 18.3 | 13.8 | ' |
Insurance and Financial Services | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Fair value on securities | $0.20 | $60.90 | ' | ' |
Percentage of amortized cost | 20.00% | ' | ' | ' |
Percentage of carrying values of all investments (less than 1%) | 1.00% | ' | ' | ' |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Fair Value of Outstanding Derivative Contracts in Condensed Consolidated Balance Sheets (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | Call options | Call options | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives designated as hedging instruments | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument |
Interest rate contracts | Interest rate contracts | Commodity swap and option agreements | Commodity swap and option agreements | Commodity swap and option agreements | Commodity swap and option agreements | Foreign exchange forward agreements | Foreign exchange forward agreements | Foreign exchange forward agreements | Foreign exchange forward agreements | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Commodity contracts | Commodity contracts | Equity conversion feature of preferred stock | Equity conversion feature of preferred stock | Foreign exchange forward agreements | Foreign exchange forward agreements | Foreign exchange contracts | Foreign exchange contracts | Commodity contracts | Commodity contracts | Commodity contracts | Commodity contracts | Call options | Call options | FIA embedded derivatives | Futures contracts | Futures contracts | Futures contracts | Futures contracts | Futures contracts | |||||||
Accounts payable and other current liabilities | Accounts payable and other current liabilities | Receivables, net | Receivables, net | Other assets | Other assets | Receivables, net | Receivables, net | Accounts payable and other current liabilities | Accounts payable and other current liabilities | Other assets | Other assets | Other liabilities | Other liabilities | Accounts payable and other current liabilities | Accounts payable and other current liabilities | Accounts payable and other current liabilities | Other liabilities | Receivables, net | Receivables, net | Receivables, net | Derivatives | Other liabilities | Other liabilities | Derivatives | Derivatives | Contractholder funds | Derivatives | Derivatives | Contractholder funds | Other liabilities | Other liabilities | |||||||||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total asset derivatives | $296.30 | $221.80 | $14.20 | $2.10 | ' | ' | $0.60 | $0 | $1.30 | $0.40 | $0.30 | $0 | ' | ' | $12 | $1.70 | ' | ' | ' | ' | $324.10 | $227.70 | ' | ' | ' | ' | $0.50 | $0.10 | $3.70 | $1.90 | ' | ' | $296.30 | $221.80 | ' | $11.20 | $0 | ' | ' | ' |
Total liability derivatives | ' | ' | $1.90 | $5.20 | $1.80 | $0 | ' | ' | ' | ' | ' | ' | $0 | $4.60 | ' | ' | $0 | $0.10 | $0.10 | $0.50 | $1,910.90 | $1,888.60 | $0 | $330.80 | $5.30 | $0.10 | ' | ' | ' | ' | $0.30 | $1.90 | ' | ' | $1,544.40 | ' | ' | $1,908.10 | $0.50 | $1 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments - Pretax Impact of Derivative Instruments Designated as Cash Flow Hedges on the Accompanying Condensed Consolidated Statements of Operations, and Within AOCI (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | $13.10 | ($2) | ($1.80) |
Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion) | -2.6 | 0.9 | -3.1 |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 0 | 0 | 0.1 |
Consumer products cost of goods sold | Commodity contracts | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | -1.6 | -2.6 | 1.6 |
Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion) | -0.9 | -0.6 | -1.1 |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 0 | 0 | 0.1 |
Consumer products cost of goods sold | Foreign exchange contracts | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | 12.7 | -0.3 | -3.5 |
Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion) | -2.6 | 0.6 | -0.6 |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 0 | ' | 0 |
Interest expense | Interest rate contracts | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | 1.9 | 0 | ' |
Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion) | ' | 0 | -0.9 |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | ' | ' | 0 |
Interest expense | Foreign exchange contracts | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion) | 0.7 | ' | ' |
Net consumer products sales | Foreign exchange contracts | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | 0.1 | 0.9 | 0.1 |
Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion) | 0.2 | 0.9 | -0.5 |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | $0 | ' | $0 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments - Summary of Gain (Loss) Recognized in Income on Derivatives (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | ($0.10) | $0 | $0 |
Equity conversion feature of preferred stock | Gain from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain Recognized in Income on Derivatives | -12.7 | -101.6 | -156.6 |
Commodity contracts | Other (expense) income, net | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain Recognized in Income on Derivatives | -6.6 | -1.3 | 0 |
Bronze Commodity Contract | Consumer products cost of goods sold | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain Recognized in Income on Derivatives | -0.1 | -0.1 | 0 |
Foreign exchange contracts | Other (expense) income, net | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain Recognized in Income on Derivatives | 3.1 | -3.6 | 5.9 |
Call options | Net investment gains | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain Recognized in Income on Derivatives | -246 | -151.6 | -100 |
Futures contracts | Net investment gains | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain Recognized in Income on Derivatives | -25.5 | -17.5 | -46 |
Available-for-sale embedded derivatives | Net Investment Income | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain Recognized in Income on Derivatives | 0 | 0 | -0.4 |
FIA embedded derivatives | Benefits and other changes in policy reserves | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain Recognized in Income on Derivatives | $363.70 | ($6.40) | $154.50 |
Derivative_Financial_Instrumen5
Derivative Financial Instruments - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Jun. 06, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Futures contracts | Futures contracts | Nomura Fund Linked Note [Member] | Nomura Fund Linked Note [Member] | Call options | Call options | Swap | Swap | Swap | Swap | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Remainder of 2013 | Remainder of 2013 | 2014 | 2014 | Cash and Cash Equivalents [Member] | Cash and Cash Equivalents [Member] | Bank of America | Bank of America | Derivatives not designated as hedging instrument | Derivatives not designated as hedging instrument | ||||
Contract | Contract | Natural Gas Commodity Contract | Natural Gas Commodity Contract | Oil Commodity Contract | Oil Commodity Contract | Standby Letters of Credit | Standby Letters of Credit | Zinc Commodity Swap Contract | Zinc Commodity Swap Contract | Brass Commodity Contract | Silver Commodity Swap Contract | Silver Commodity Swap Contract | Foreign exchange contracts | Foreign exchange contracts | Swap | Swap | Swap | Swap | Call options | Call options | Bank of America | Bank of America | ||||||||||||
MMBTU | MMBTU | MBbls | MBbls | T | T | T | ozt | ozt | Natural Gas Commodity Contract | Oil Commodity Contract | Natural Gas Commodity Contract | Oil Commodity Contract | Derivatives | Derivatives | ||||||||||||||||||||
MMBTU | MBbls | MMBTU | MBbls | Call options | Call options | |||||||||||||||||||||||||||||
Derivative Financial Instruments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Nonmonetary Notional Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | 45 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other invested assets | $165,000,000 | $31,200,000 | ' | ' | ' | $11,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Securities | ' | ' | ' | ' | ' | 21,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | ' | ' | ' | ' | ' | ' | ' | 188,000,000 | 72,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 135,500,000 | 72,000,000 | ' | ' | 52,500,000 | 0 |
Natural Gas, Volume | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,821,000 | 16,018,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,106,000 | ' | 2,715,000 | ' | ' | ' | ' | ' | ' | ' |
Derivative, Commodity Contract, Oil Volume | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 254,000 | 375 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 68,000 | ' | 186,000 | ' | ' | ' | ' | ' | ' |
Contract value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,400,000 | 16,200,000 | 2,800,000 | 400,000 | 1,000,000 | 226,700,000 | 255,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative net loss/gain | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,200,000 | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative net loss/gain, net of tax benefit/expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,400,000 | -600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative net loss/gain, non-controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,700,000 | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated amount of derivative net losses/gains to be reclassified from AOCI into earnings over the next twelve months | -2,600,000 | 900,000 | -3,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Notional Amount | 7,602,600,000 | 6,407,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108,900,000 | 108,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,239,900,000 | 2,037,800,000 | ' | ' |
Weight of raw materials under derivative contract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | 8 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, average forward price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.72 | 4.16 | 88.08 | 4 | ' | ' | ' | ' | ' | ' |
Percentage of production volume covered by derivative financial instruments | 72.00% | 74.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash collateral | ' | ' | ' | 10,800,000 | 5,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Derivative, Maximum Exposure, Undiscounted | 108,300,000 | ' | 149,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of instruments held | ' | ' | ' | 2,348 | 1,693 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment Owned, Balance, Principal Amount | ' | ' | ' | ' | ' | ' | 35,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Embedded Derivative, Fair Value of Embedded Derivative Liability | ' | ' | ' | ' | ' | ' | $11,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative_Financial_Instrumen6
Derivative Financial Instruments - Oil and Gas Commodity Contracts (Details) (Swap, USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | MMBTU | MMBTU |
Derivative [Line Items] | ' | ' |
30-Sep-14 | $1.60 | ' |
Natural Gas Commodity Contract | ' | ' |
Derivative [Line Items] | ' | ' |
Natural Gas, Volume | 6,821,000 | 16,018,000 |
30-Sep-14 | 0.1 | ' |
Natural Gas Commodity Contract | Remainder of 2013 | ' | ' |
Derivative [Line Items] | ' | ' |
Natural Gas, Volume | 4,106,000 | ' |
Weighted average strike price per Mmbtu/Bbl | 4.15 | ' |
30-Sep-14 | 0.2 | ' |
Natural Gas Commodity Contract | 2014 | ' | ' |
Derivative [Line Items] | ' | ' |
Natural Gas, Volume | 2,715,000 | ' |
Weighted average strike price per Mmbtu/Bbl | 3.98 | ' |
30-Sep-14 | -0.1 | ' |
Oil Commodity Contract | ' | ' |
Derivative [Line Items] | ' | ' |
30-Sep-14 | 1.5 | ' |
Derivative, Commodity Contract, Oil Volume | 254,000 | 375 |
Oil Commodity Contract | Remainder of 2013 | ' | ' |
Derivative [Line Items] | ' | ' |
Weighted average strike price per Mmbtu/Bbl | 91.87 | ' |
30-Sep-14 | 0.1 | ' |
Derivative, Commodity Contract, Oil Volume | 68,000 | ' |
Oil Commodity Contract | 2014 | ' | ' |
Derivative [Line Items] | ' | ' |
Weighted average strike price per Mmbtu/Bbl | 94.98 | ' |
30-Sep-14 | $1.40 | ' |
Derivative, Commodity Contract, Oil Volume | 186,000 | ' |
Derivative_Financial_Instrumen7
Derivative Financial Instruments - FGL's Exposure to Credit Loss on Call Options Held (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount | $7,602.60 | $6,407.40 |
Bank of America | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Credit Rating (Moody's/S&P) | 'A/*/A | ' |
Notional Amount | 2,239.90 | 2,037.80 |
Deutsche Bank | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Credit Rating (Moody's/S&P) | '*/A3/A | ' |
Notional Amount | 2,294.70 | 1,620.40 |
Morgan Stanley | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Credit Rating (Moody's/S&P) | 'A+/A3/A | ' |
Notional Amount | 2,810 | 2,264.10 |
Royal Bank of Scotland | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Credit Rating (Moody's/S&P) | 'A-/*/A- | ' |
Notional Amount | 0 | 364.3 |
Barclay's Bank | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Credit Rating (Moody's/S&P) | 'A/A2/A- | ' |
Notional Amount | 258 | 120.8 |
Call options | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair Value | 296.3 | 221.8 |
Collateral | 188 | 72 |
Net Credit Risk | 108.3 | 149.8 |
Derivatives not designated as hedging instrument | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair Value | 324.1 | 227.7 |
Derivatives | Derivatives not designated as hedging instrument | Call options | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair Value | 296.3 | 221.8 |
Derivatives | Derivatives not designated as hedging instrument | Call options | Bank of America | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair Value | 92.7 | 70.7 |
Collateral | 52.5 | 0 |
Net Credit Risk | 40.2 | 70.7 |
Derivatives | Derivatives not designated as hedging instrument | Call options | Deutsche Bank | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair Value | 108 | 51.7 |
Collateral | 72.5 | 23 |
Net Credit Risk | 35.5 | 28.7 |
Derivatives | Derivatives not designated as hedging instrument | Call options | Morgan Stanley | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair Value | 85 | 75.7 |
Collateral | 63 | 49 |
Net Credit Risk | 22 | 26.7 |
Derivatives | Derivatives not designated as hedging instrument | Call options | Royal Bank of Scotland | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair Value | 0 | 20.3 |
Collateral | 0 | 0 |
Net Credit Risk | 0 | 20.3 |
Derivatives | Derivatives not designated as hedging instrument | Call options | Barclay's Bank | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair Value | 10.6 | 3.4 |
Collateral | 0 | 0 |
Net Credit Risk | $10.60 | $3.40 |
Securitizations_and_Variable_I2
Securitizations and Variable Interest Entities Schedule of Interest in Variable Interest Entity (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 28, 2013 | Feb. 14, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 23, 2013 | Feb. 28, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | |||
Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | ||||||
Unaffiliated long-term debt of consolidated variable-interest entity | Unaffiliated long-term debt of consolidated variable-interest entity | ||||||||||
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset-based loans | $811,600,000 | $560,400,000 | $136,500,000 | $166,900,000 | $331,100,000 | $331,100,000 | ' | $325,000,000 | $175,500,000 | ' | ' |
Principal Amount Outstanding on Loans Securitized or Asset-backed Financing Arrangement | ' | ' | ' | ' | 182,900,000 | 192,000,000 | 181,800,000 | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,100,000 |
Variable Interest Entity, Consolidated, Carrying Amount, Asset-Backed Loans Receivable, Portion Sellers Interest | ' | ' | ' | ' | ' | 292,000,000 | 302,100,000 | ' | ' | ' | ' |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | ' | ' | ' | ' | ' | 455,900,000 | 337,800,000 | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Asset-Backed Loans Receivable | ' | ' | ' | ' | ' | 455,900,000 | 337,800,000 | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Other Assets | ' | ' | ' | ' | ' | 35,500,000 | 156,700,000 | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | ' | ' | ' | ' | ' | 491,400,000 | 494,500,000 | ' | ' | ' | ' |
VIE, consolidated carrying amount obligations | ' | ' | ' | ' | ' | 484,000,000 | 485,000,000 | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Other Liabilities | ' | ' | ' | ' | ' | 6,700,000 | 2,900,000 | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities | ' | ' | ' | ' | ' | $490,700,000 | $487,900,000 | ' | ' | ' | ' |
Securitizations_and_Variable_I3
Securitizations and Variable Interest Entities Additional Information (Details) (USD $) | 12 Months Ended | ||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 28, 2013 | Feb. 14, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 23, 2013 | Feb. 28, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Unaffiliated long-term debt of consolidated variable-interest entity | Unaffiliated long-term debt of consolidated variable-interest entity | |||
Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | ||||||
Salus Capital Partners LLC | Salus Capital Partners LLC | ||||||||||
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset-based loans | $811,600,000 | $560,400,000 | $136,500,000 | $166,900,000 | $331,100,000 | $331,100,000 | ' | $325,000,000 | $175,500,000 | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Asset-Backed Loans Receivable | ' | ' | ' | ' | ' | 455,900,000 | 337,800,000 | ' | ' | ' | ' |
Collateralized loan obligation of consolidated VIE | ' | ' | ' | ' | 182,900,000 | 192,000,000 | 181,800,000 | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,100,000 |
Variable Interest Entity, Consolidated, Carrying Amount, Asset-Backed Loans Receivable, Portion Sellers Interest | ' | ' | ' | ' | ' | $292,000,000 | $302,100,000 | ' | ' | ' | ' |
Equitymethod_investments_Sched
Equity-method investments Schedule of Investments in Equity-Method Investments (Details) (USD $) | Sep. 30, 2014 | Jan. 03, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
HC2 Holdings Inc. [Member] | HC2 Holdings Inc. [Member] | HGI Energy Holdings, LLC | HGI Energy Holdings, LLC | |
EXCO/HGI Partnership and the General Partner | EXCO/HGI Partnership and the General Partner | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | 24.70% | 40.50% | ' | ' |
Equity Method Investment, Quoted Market Value | $26.50 | ' | ' | ' |
Assets | ' | ' | ' | ' |
Total current assets | ' | ' | 50,100,000 | 54,400,000 |
Oil and natural gas properties, net | ' | ' | 599,400,000 | 741,500,000 |
Other assets | ' | ' | 29,000,000 | 32,700,000 |
Total assets | ' | ' | 678,500,000 | 828,600,000 |
Liabilities and members' equity | ' | ' | ' | ' |
Total current liabilities | ' | ' | 42,900,000 | 44,900,000 |
Total long-term liabilities | ' | ' | 362,900,000 | 397,300,000 |
Total members' equity | ' | ' | 272,700,000 | 386,400,000 |
Total liabilities and members' equity | ' | ' | 678,500,000 | 828,600,000 |
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract] | ' | ' | ' | ' |
Revenues | ' | ' | 197,500,000 | 121,100,000 |
Costs and Expenses | ' | ' | ' | ' |
Oil and natural gas direct operating costs | ' | ' | 93,500,000 | 59,000,000 |
Selling, acquisition, operating and general expenses | ' | ' | 67,200,000 | 49,500,000 |
Impairment of proved oil and natural gas properties | ' | ' | 109,000,000 | 72,800,000 |
Total costs and expenses | ' | ' | 269,700,000 | 181,300,000 |
Operating income | ' | ' | -72,200,000 | -60,200,000 |
Other expense | ' | ' | -19,000,000 | -8,000,000 |
Net loss | ' | ' | ($91,200,000) | ($68,200,000) |
Equitymethod_investments_Addit
Equity-method investments Additional Information (Details) (HC2 Holdings Inc. [Member], USD $) | Sep. 30, 2014 | Jan. 03, 2014 |
HC2 Holdings Inc. [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Equity Method Investment, Quoted Market Value | $26.50 | ' |
Business Acquisition, Percentage of Voting Interests Acquired | 24.70% | 40.50% |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Assets and Liabilities Carrying at Fair Value on Recurring Basis (Detail) (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' | ' | |
Document Period End Date | 30-Sep-14 | ' | ' | ' | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | ($23.90) | ($53) | ($731.80) | [1] | ' |
Assets | ' | ' | ' | ' | |
Cash and cash equivalents | 1,319.20 | 1,899.70 | 1,470.70 | 1,137.40 | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | 296.3 | 221.8 | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Asset Backed Loans And Other Invested Assets | 811.6 | 560.4 | ' | ' | |
Other invested assets | 165 | 31.2 | ' | ' | |
Assets, Fair Value Disclosure | 1,066 | ' | 523.5 | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Equity Conversion Option Of Preferred Stock | ' | 330.8 | ' | ' | |
Asset-backed securities | ' | ' | ' | ' | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' | ' | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | -3.8 | -10.5 | -737.9 | [1] | ' |
Commercial mortgage-backed securities | ' | ' | ' | ' | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' | ' | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | -6 | ' | ' | ' | |
Corporates | ' | ' | ' | ' | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' | ' | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | -14.1 | -33.8 | 18.9 | [1] | ' |
Hybrids | ' | ' | ' | ' | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' | ' | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | ' | -8.7 | 3.7 | [1] | ' |
Non-agency residential mortgage-backed securities | ' | ' | ' | ' | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' | ' | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | ' | ' | -2.9 | [1] | ' |
Other invested assets | ' | ' | ' | ' | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' | ' | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | 0 | ' | ' | ' | |
Estimate of Fair Value Measurement [Member] | ' | ' | ' | ' | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' | ' | |
Cash and Cash Equivalents, Fair Value Disclosure | 1,319.20 | 1,899.70 | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Asset Backed Loans And Other Invested Assets | 811.6 | 560.4 | ' | ' | |
Liabilities | ' | ' | ' | ' | |
Debt Instrument, Fair Value Disclosure | 5,308.50 | 4,773.20 | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Redeemable preferred stock, excluding equity conversion feature | ' | 377.1 | ' | ' | |
Liabilities Related to Investment Contracts, Fair Value Disclosure | 13,108.80 | 12,378.60 | ' | ' | |
Reported Value Measurement [Member] | ' | ' | ' | ' | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' | ' | |
Cash and Cash Equivalents, Fair Value Disclosure | 1,319.20 | 1,899.70 | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Asset Backed Loans And Other Invested Assets | 811.6 | 560.4 | ' | ' | |
Liabilities | ' | ' | ' | ' | |
Debt Instrument, Fair Value Disclosure | 5,157.80 | 4,896.10 | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Redeemable preferred stock, excluding equity conversion feature | ' | 329.4 | ' | ' | |
Liabilities Related to Investment Contracts, Fair Value Disclosure | 14,555.40 | 13,703.80 | ' | ' | |
Policy loans | Estimate of Fair Value Measurement [Member] | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Policy loans and other invested assets | 151.7 | 31.2 | ' | ' | |
Policy loans | Reported Value Measurement [Member] | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Policy loans and other invested assets | 151.7 | 31.2 | ' | ' | |
Other invested assets | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Trading Securities | 165 | 31.2 | ' | ' | |
Fair Value, Inputs, Level 1 | ' | ' | ' | ' | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' | ' | |
Cash and Cash Equivalents, Fair Value Disclosure | 1,319.20 | 1,899.70 | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Asset Backed Loans And Other Invested Assets | ' | ' | ' | ' | |
Liabilities | ' | ' | ' | ' | |
Debt Instrument, Fair Value Disclosure | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Redeemable preferred stock, excluding equity conversion feature | ' | ' | ' | ' | |
Liabilities Related to Investment Contracts, Fair Value Disclosure | ' | ' | ' | ' | |
Fair Value, Inputs, Level 1 | Policy loans | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Policy loans and other invested assets | ' | ' | ' | ' | |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' | ' | |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Asset Backed Loans And Other Invested Assets | ' | ' | ' | ' | |
Liabilities | ' | ' | ' | ' | |
Debt Instrument, Fair Value Disclosure | 5,308.50 | 4,773.20 | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Redeemable preferred stock, excluding equity conversion feature | ' | ' | ' | ' | |
Liabilities Related to Investment Contracts, Fair Value Disclosure | ' | ' | ' | ' | |
Fair Value, Inputs, Level 2 [Member] | Policy loans | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Policy loans and other invested assets | ' | ' | ' | ' | |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' | ' | |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Asset Backed Loans And Other Invested Assets | 811.6 | 560.4 | ' | ' | |
Liabilities | ' | ' | ' | ' | |
Debt Instrument, Fair Value Disclosure | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Redeemable preferred stock, excluding equity conversion feature | ' | 377.1 | ' | ' | |
Liabilities Related to Investment Contracts, Fair Value Disclosure | 13,108.80 | 12,378.60 | ' | ' | |
Fair Value, Inputs, Level 3 [Member] | Policy loans | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Policy loans and other invested assets | 151.7 | 31.2 | ' | ' | |
Fair Value, Measurements, Recurring | ' | ' | ' | ' | |
Assets | ' | ' | ' | ' | |
Contingent purchase price reduction receivable | 41.5 | 41 | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Funds Withheld Receivable | 154.4 | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Equity Conversion Option Of Preferred Stock | ' | 330.8 | ' | ' | |
Fair Value, Measurements, Recurring | Asset-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 1,792.90 | 1,523.10 | ' | ' | |
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 636.9 | 454.4 | ' | ' | |
Fair Value, Measurements, Recurring | Corporates | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 9,795.80 | 9,418.30 | ' | ' | |
Fair Value, Measurements, Recurring | Hybrids | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 1,316.10 | 428.8 | ' | ' | |
Fair Value, Measurements, Recurring | Municipals | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 1,259.80 | 1,007 | ' | ' | |
Fair Value, Measurements, Recurring | Agency residential mortgage-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 107.3 | 98.6 | ' | ' | |
Fair Value, Measurements, Recurring | Non-agency residential mortgage-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 2,006.70 | 1,368 | ' | ' | |
Fair Value, Measurements, Recurring | Foreign exchange forward agreements | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | 0.6 | 1.8 | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | 0.1 | 10 | ' | ' | |
Fair Value, Measurements, Recurring | Commodity swap and option agreements | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | 3.2 | 4.1 | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | 0.4 | 2.4 | ' | ' | |
Fair Value, Measurements, Recurring | Call options | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | 296.3 | 221.8 | ' | ' | |
Fair Value, Measurements, Recurring | Available-for-sale | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Equity securities - available-for-sale | 663.6 | 271 | ' | ' | |
Fair Value, Measurements, Recurring | FIA embedded derivatives, included in contractholder funds | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | 1,908.10 | 1,544.40 | ' | ' | |
Fair Value, Measurements, Recurring | Future contracts | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | 0.5 | 1 | ' | ' | |
Fair Value, Measurements, Recurring | Interest Rate Swap [Member] | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | 1.8 | ' | ' | ' | |
Fair Value, Measurements, Recurring | Estimate of Fair Value Measurement [Member] | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Assets, Fair Value Disclosure, Recurring | 18,501.70 | 15,921.20 | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Liabilities, Fair Value Disclosure, Recurring | 2,062.20 | 1,888.60 | ' | ' | |
Fair Value, Measurements, Recurring | Estimate of Fair Value Measurement [Member] | Front Street Future Policyholder Benefits Reserve [Member] | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | 151.3 | ' | ' | ' | |
Fair Value, Measurements, Recurring | Foreign exchange contracts | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | 12.8 | ' | ' | ' | |
Fair Value, Measurements, Recurring | Equity securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Trading Securities | 104.5 | 81.5 | ' | ' | |
Fair Value, Measurements, Recurring | Other invested assets | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Other invested assets | 13.3 | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | ' | ' | ' | ' | |
Assets | ' | ' | ' | ' | |
Contingent purchase price reduction receivable | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Funds Withheld Receivable | 0 | ' | ' | ' | |
Assets, Fair Value Disclosure, Recurring | 279.3 | 861.7 | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Equity Conversion Option Of Preferred Stock | ' | ' | ' | ' | |
Liabilities, Fair Value Disclosure, Recurring | 0 | 0 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Asset-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Commercial mortgage-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Corporates | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Hybrids | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Municipals | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Agency residential mortgage-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Non-agency residential mortgage-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Foreign exchange forward agreements | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Commodity swap and option agreements | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Call options | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Available-for-sale | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Equity securities - available-for-sale | 59.2 | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | FIA embedded derivatives, included in contractholder funds | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Front Street Future Policyholder Benefits Reserve [Member] | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Future contracts | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Interest Rate Swap [Member] | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Foreign exchange contracts | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Equity securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Trading Securities | 104.5 | 70.8 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Other invested assets | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Other invested assets | 0 | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | |
Assets | ' | ' | ' | ' | |
Contingent purchase price reduction receivable | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Funds Withheld Receivable | 154.4 | ' | ' | ' | |
Assets, Fair Value Disclosure, Recurring | 17,156.40 | 14,536 | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Equity Conversion Option Of Preferred Stock | ' | ' | ' | ' | |
Liabilities, Fair Value Disclosure, Recurring | 2.8 | 13.4 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Asset-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 1,755.90 | 1,518.10 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Commercial mortgage-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 553.8 | 448.7 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Corporates | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 8,945.80 | 8,957.20 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Hybrids | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 1,316.10 | 428.8 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Municipals | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 1,222.60 | 1,007 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Agency residential mortgage-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 107.3 | 98.6 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Non-agency residential mortgage-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 2,006.70 | 1,368 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Foreign exchange forward agreements | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | 0.6 | 1.8 | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | 0.1 | 10 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Commodity swap and option agreements | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | 3.2 | 4.1 | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | 0.4 | 2.4 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Call options | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | 296.3 | 221.8 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Available-for-sale | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Equity securities - available-for-sale | 598.4 | 271 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | FIA embedded derivatives, included in contractholder funds | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Front Street Future Policyholder Benefits Reserve [Member] | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Future contracts | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | 0.5 | 1 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | 1.8 | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Foreign exchange contracts | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | 12.8 | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Equity securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Trading Securities | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | Other invested assets | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Other invested assets | 2.1 | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | |
Assets | ' | ' | ' | ' | |
Contingent purchase price reduction receivable | 41.5 | 41 | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Funds Withheld Receivable | 0 | ' | ' | ' | |
Assets, Fair Value Disclosure, Recurring | 1,066 | 523.5 | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Equity Conversion Option Of Preferred Stock | ' | 330.8 | ' | ' | |
Liabilities, Fair Value Disclosure, Recurring | 2,059.40 | 1,875.20 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Asset-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 37 | 5 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Commercial mortgage-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 83.1 | 5.7 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Corporates | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 850 | 461.1 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Hybrids | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 0 | 0 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Municipals | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 37.2 | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Agency residential mortgage-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Non-agency residential mortgage-backed securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Foreign exchange forward agreements | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Commodity swap and option agreements | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Call options | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Available-for-sale | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Equity securities - available-for-sale | 6 | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | FIA embedded derivatives, included in contractholder funds | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | 1,908.10 | 1,544.40 | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Front Street Future Policyholder Benefits Reserve [Member] | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | 151.3 | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Future contracts | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ' | ' | ' | ' | |
Derivatives, Liabilities | ' | ' | ' | ' | |
Derivative Liability | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Foreign exchange contracts | ' | ' | ' | ' | |
Derivatives, Assets | ' | ' | ' | ' | |
Derivatives | ' | ' | ' | ' | |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Equity securities | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Trading Securities | ' | 10.7 | ' | ' | |
Option Pricing [Member] | Other invested assets | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Assets, Fair Value Disclosure | ' | 0 | ' | ' | |
Option Pricing [Member] | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Other invested assets | Other invested assets | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Other invested assets | 11.2 | ' | ' | ' | |
U.S. Government | Fair Value, Measurements, Recurring | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 296 | 1,001.80 | ' | ' | |
U.S. Government | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 115.6 | 790.9 | ' | ' | |
U.S. Government | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | 180.4 | 210.9 | ' | ' | |
U.S. Government | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | |
Fixed maturity securities, available-for-sale: | ' | ' | ' | ' | |
Available-for-sale Securities | ' | ' | ' | ' | |
[1] | (a)The net transfers in and out of Level 3 during Fiscal 2012 was exclusively to or from Level 2. |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Schedule of Unobservable Inputs Used for Level Three Fair Value Measurements of Financial Instruments on Recurring Basis (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
Equity Securities | Contingent purchase price reduction receivable | Contingent purchase price reduction receivable | FIA embedded derivatives, included in contractholder funds | FIA embedded derivatives, included in contractholder funds | FIA embedded derivatives, included in contractholder funds | FIA embedded derivatives, included in contractholder funds | Equity conversion feature of preferred stock | Equity conversion feature of preferred stock | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Weighted average | Weighted average | Weighted average | Weighted average | Weighted average | Weighted average | Weighted average | Weighted average | Weighted average | Weighted average | Weighted average | Weighted average | Weighted average | Weighted average | Weighted average | Monte Carlo simulation / Option model | Broker Quoted [Member] | Broker Quoted [Member] | Broker Quoted [Member] | Broker Quoted [Member] | Broker Quoted [Member] | Broker Quoted [Member] | Broker Quoted [Member] | Broker Quoted [Member] | Broker Quoted [Member] | Broker Quoted [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Matrix Pricing [Member] | Matrix Pricing [Member] | Option Pricing [Member] | Option Pricing [Member] | Option Pricing [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Other invested assets | Other invested assets | Front Street Future Policyholder Benefits Reserve [Member] | Front Street Future Policyholder Benefits Reserve [Member] | Front Street Future Policyholder Benefits Reserve [Member] | ||||
Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Asset-backed securities | Asset-backed securities | Commercial mortgage-backed securities | Corporates | Corporates | Hybrids | Contingent purchase price reduction receivable | Contingent purchase price reduction receivable | FIA embedded derivatives, included in contractholder funds | FIA embedded derivatives, included in contractholder funds | Equity conversion feature of preferred stock | Equity conversion feature of preferred stock | Asset-backed securities | Asset-backed securities | Commercial mortgage-backed securities | Commercial mortgage-backed securities | Corporates | Corporates | Hybrids | Contingent purchase price reduction receivable | Contingent purchase price reduction receivable | FIA embedded derivatives, included in contractholder funds | FIA embedded derivatives, included in contractholder funds | Equity conversion feature of preferred stock | Equity conversion feature of preferred stock | Asset-backed securities | Asset-backed securities | Commercial mortgage-backed securities | Corporates | Corporates | Equity Securities | Municipal Debt Securities [Member] | Hybrids | Contingent purchase price reduction receivable | Contingent purchase price reduction receivable | FIA embedded derivatives, included in contractholder funds | FIA embedded derivatives, included in contractholder funds | Equity conversion feature of preferred stock | Equity conversion feature of preferred stock | Equity conversion feature of preferred stock | Asset-backed securities | Asset-backed securities | Commercial mortgage-backed securities | Commercial mortgage-backed securities | Corporates | Corporates | Municipal | Municipal | Equity Securities | Equity Securities | Contingent purchase price reduction receivable | FIA embedded derivatives, included in contractholder funds | Corporates | Corporates | Equity Securities | Other invested assets | Other invested assets | FIA embedded derivatives, included in contractholder funds | FIA embedded derivatives, included in contractholder funds | Front Street Future Policyholder Benefits Reserve [Member] | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 [Member] | Minimum | Maximum | Weighted average | ||||||||||||
Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Option Pricing [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Measurements, Recurring | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Valuation Technique | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Monte Carlo simulation / Option model | ' | ' | 'Broker-quoted | ' | 'Matrix pricing | ' | 'Broker-quoted | ' | 'Broker-quoted | ' | 'Discounted cash flow | 'Discounted cash flow | 'Broker-quoted | ' | 'Option Pricing | 'Black Scholes model | ' | ' | ' | 'Discounted cash flow | ' | ' | ' | ' | ' |
Other invested assets | $165 | $31.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13.30 | $11.20 | ' | ' | ' |
Assets, Fair Value Disclosure | 1,066 | ' | 523.5 | 10.7 | 41.5 | 41 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37 | 5 | 83.1 | 5.7 | 848 | 404.5 | 37.2 | 0 | 6 | 0 | ' | ' | 2 | 56.6 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Probability of collection | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 88.00% | 88.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 96.00% | 96.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 92.00% | 92.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 months 15 days | '9 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Inputs, Discount Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit insurance risk premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | 11.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quoted prices | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 113.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 90.00% | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Offered quotes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | 105.00% | ' | 90.00% | ' | ' | ' | ' | ' | ' | ' | 109.00% | ' | 121.00% | 96.00% | 120.00% | 131.00% | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | 103.00% | 118.00% | 142.00% | 97.00% | 100.00% | 107.00% | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free discount factor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.999 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-adjusted discount factor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.995 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Upward movement factor (Mu) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Downward movement (Md) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Probability of upward movement (Pu) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Probability of downward movement (Pd) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liabilities, Fair Value Disclosure | 2,059.40 | ' | 1,875.20 | ' | ' | ' | 1,908.10 | 1,544.40 | ' | ' | 0 | 330.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Liability | ' | ' | ' | ' | ' | ' | ' | ' | $1,908.10 | $1,544.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,908.10 | $1,544.40 | $151.30 | ' | ' | ' | ' | ' |
Market value of option | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 38.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
SWAP rates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mortality multiplier | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Surrender rates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-performance spread | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 1.50% | ' |
Risk margin for uncertainty | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% |
Annualized volatility of equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount yield | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cash accretion rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Calibration adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Changes in Fair Value of Financial Instruments (Detail) (USD $) | 12 Months Ended | |||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | |||
Fair Value Assets, level 1 to level 2 transfers | $0 | $0 | $0 | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 523,500,000 | 206,000,000 | 546,500,000 | |||
Total Gains (Losses) Included in Earnings | 1,700,000 | -100,000 | 40,900,000 | |||
Total Gains (Losses) Included in AOCI | 22,200,000 | -14,000,000 | 3,800,000 | |||
Purchases | 570,500,000 | 428,200,000 | 427,200,000 | |||
Sales | -12,100,000 | -20,300,000 | -27,300,000 | |||
Settlements | -15,900,000 | -23,300,000 | -53,300,000 | |||
Net transfer In (Out) of Level 3 (a) | -23,900,000 | -53,000,000 | -731,800,000 | [1] | ||
Balance at End of Period | 1,066,000,000 | 523,500,000 | 206,000,000 | |||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 1,875,200,000 | 1,782,800,000 | 1,472,100,000 | |||
Total Gains (Losses) Included in Earnings | 383,400,000 | 95,200,000 | 310,700,000 | |||
Total Gains (Losses) Included in AOCI | ' | ' | ' | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases | 150,600,000 | ' | ' | |||
Sales | ' | ' | ' | |||
Settlements | -349,800,000 | -2,800,000 | ' | |||
Net transfer In (Out) of Level 3 | ' | [2] | ' | ' | ||
Balance at End of Period | 2,059,400,000 | 1,875,200,000 | 1,782,800,000 | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 30,900,000 | [3] | ' | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases, (Sales), Issuances, (Settlements) | ' | ' | 0 | |||
FIA embedded derivatives, included in contractholder funds | ' | ' | ' | |||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 1,544,400,000 | 1,550,800,000 | 1,396,300,000 | |||
Total Gains (Losses) Included in Earnings | 363,700,000 | -6,400,000 | 154,500,000 | |||
Total Gains (Losses) Included in AOCI | ' | ' | ' | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases | ' | ' | ' | |||
Sales | ' | ' | ' | |||
Settlements | ' | ' | ' | |||
Net transfer In (Out) of Level 3 | ' | ' | ' | |||
Balance at End of Period | 1,908,100,000 | 1,544,400,000 | 1,550,800,000 | |||
Front Street Future Policyholder Benefits Reserve [Member] | ' | ' | ' | |||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | ' | ' | ' | |||
Total Gains (Losses) Included in Earnings | 7,000,000 | ' | ' | |||
Total Gains (Losses) Included in AOCI | ' | ' | ' | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases | 150,600,000 | ' | ' | |||
Sales | ' | ' | ' | |||
Settlements | -6,300,000 | ' | ' | |||
Net transfer In (Out) of Level 3 | ' | ' | ' | |||
Balance at End of Period | 151,300,000 | ' | ' | |||
Equity conversion feature of preferred stock | ' | ' | ' | |||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 330,800,000 | 232,000,000 | 75,400,000 | |||
Total Gains (Losses) Included in Earnings | 12,700,000 | 101,600,000 | 156,600,000 | |||
Total Gains (Losses) Included in AOCI | ' | ' | ' | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases | ' | ' | ' | |||
Sales | ' | ' | ' | |||
Settlements | -343,500,000 | -2,800,000 | ' | |||
Net transfer In (Out) of Level 3 | ' | ' | ' | |||
Balance at End of Period | ' | 330,800,000 | 232,000,000 | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases, (Sales), Issuances, (Settlements) | ' | ' | 0 | |||
Available-for-sale embedded derivatives | ' | ' | ' | |||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | ' | ' | 400,000 | |||
Total Gains (Losses) Included in Earnings | ' | ' | -400,000 | |||
Balance at End of Period | ' | ' | 0 | |||
Asset-backed securities | ' | ' | ' | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 5,000,000 | 15,900,000 | 374,500,000 | |||
Total Gains (Losses) Included in Earnings | 0 | ' | ' | |||
Total Gains (Losses) Included in AOCI | -300,000 | -200,000 | 7,400,000 | |||
Purchases | 36,100,000 | ' | 410,700,000 | |||
Sales | ' | ' | ' | |||
Settlements | 0 | -200,000 | -38,800,000 | |||
Net transfer In (Out) of Level 3 (a) | -3,800,000 | -10,500,000 | -737,900,000 | [1] | ||
Balance at End of Period | 37,000,000 | 5,000,000 | 15,900,000 | |||
Commercial mortgage-backed securities | ' | ' | ' | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 5,700,000 | 5,000,000 | ' | |||
Total Gains (Losses) Included in Earnings | ' | ' | ' | |||
Total Gains (Losses) Included in AOCI | ' | -300,000 | ' | |||
Purchases | 83,700,000 | 1,000,000 | 5,000,000 | |||
Sales | -300,000 | ' | ' | |||
Settlements | 0 | ' | ' | |||
Net transfer In (Out) of Level 3 (a) | -6,000,000 | ' | ' | |||
Balance at End of Period | 83,100,000 | 5,700,000 | 5,000,000 | |||
Corporates | ' | ' | ' | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 461,100,000 | 135,300,000 | 159,700,000 | |||
Total Gains (Losses) Included in Earnings | 0 | -300,000 | 0 | |||
Total Gains (Losses) Included in AOCI | 19,100,000 | -13,400,000 | -3,600,000 | |||
Purchases | 398,100,000 | 406,000,000 | 1,300,000 | |||
Sales | -11,800,000 | -9,600,000 | -26,800,000 | |||
Settlements | -2,400,000 | -23,100,000 | -14,200,000 | |||
Net transfer In (Out) of Level 3 (a) | -14,100,000 | -33,800,000 | 18,900,000 | [1] | ||
Balance at End of Period | 850,000,000 | 461,100,000 | 135,300,000 | |||
Hybrids | ' | ' | ' | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | ' | 8,800,000 | 5,200,000 | |||
Total Gains (Losses) Included in Earnings | ' | ' | ' | |||
Total Gains (Losses) Included in AOCI | ' | -100,000 | -100,000 | |||
Purchases | ' | ' | ' | |||
Sales | ' | ' | ' | |||
Settlements | ' | ' | ' | |||
Net transfer In (Out) of Level 3 (a) | ' | -8,700,000 | 3,700,000 | [1] | ||
Balance at End of Period | ' | ' | 8,800,000 | |||
Municipal Debt Securities [Member] | ' | ' | ' | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | ' | ' | 0 | |||
Total Gains (Losses) Included in Earnings | 0 | ' | 0 | |||
Total Gains (Losses) Included in AOCI | 2,200,000 | ' | 100,000 | |||
Purchases | 35,000,000 | ' | 10,200,000 | |||
Sales | 0 | ' | 0 | |||
Settlements | 0 | ' | 0 | |||
Net transfer In (Out) of Level 3 (a) | ' | ' | -10,300,000 | [1] | ||
Balance at End of Period | 37,200,000 | ' | 0 | |||
Non-agency residential mortgage-backed securities | ' | ' | ' | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | ' | ' | 3,800,000 | |||
Total Gains (Losses) Included in Earnings | ' | ' | -100,000 | |||
Total Gains (Losses) Included in AOCI | ' | ' | 0 | |||
Sales | ' | ' | -500,000 | |||
Settlements | ' | ' | -300,000 | |||
Net transfer In (Out) of Level 3 (a) | ' | ' | -2,900,000 | [1] | ||
Balance at End of Period | ' | ' | 0 | |||
Equity Securities Classified As Held For Trading | ' | ' | ' | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 10,700,000 | ' | ' | |||
Total Gains (Losses) Included in Earnings | 1,300,000 | ' | ' | |||
Total Gains (Losses) Included in AOCI | ' | ' | ' | |||
Purchases | 1,500,000 | 10,700,000 | ' | |||
Sales | 0 | ' | ' | |||
Settlements | -13,500,000 | ' | ' | |||
Net transfer In (Out) of Level 3 (a) | 0 | ' | ' | |||
Balance at End of Period | 0 | 10,700,000 | ' | |||
Equity Securities | ' | ' | ' | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 0 | ' | ' | |||
Total Gains (Losses) Included in Earnings | 0 | 200,000 | ' | |||
Total Gains (Losses) Included in AOCI | 1,200,000 | ' | ' | |||
Purchases | 4,800,000 | 10,500,000 | ' | |||
Sales | 0 | -10,700,000 | ' | |||
Settlements | 0 | ' | ' | |||
Net transfer In (Out) of Level 3 (a) | 0 | ' | ' | |||
Balance at End of Period | 6,000,000 | 0 | ' | |||
Other invested assets | ' | ' | ' | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 0 | ' | ' | |||
Total Gains (Losses) Included in Earnings | -100,000 | ' | ' | |||
Total Gains (Losses) Included in AOCI | 0 | ' | ' | |||
Purchases | 11,300,000 | ' | ' | |||
Sales | 0 | ' | ' | |||
Settlements | 0 | ' | ' | |||
Net transfer In (Out) of Level 3 (a) | 0 | ' | ' | |||
Balance at End of Period | 11,200,000 | ' | ' | |||
Residential Mortgage Backed Securities | ' | ' | ' | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | ' | ' | 3,300,000 | |||
Total Gains (Losses) Included in AOCI | ' | ' | 0 | |||
Net transfer In (Out) of Level 3 (a) | ' | ' | -3,300,000 | [1] | ||
Balance at End of Period | ' | ' | 0 | |||
Contingent purchase price reduction receivable | ' | ' | ' | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 41,000,000 | 41,000,000 | ' | |||
Total Gains (Losses) Included in Earnings | 500,000 | ' | 41,000,000 | |||
Total Gains (Losses) Included in AOCI | ' | ' | ' | |||
Purchases | ' | ' | ' | |||
Sales | ' | ' | ' | |||
Settlements | ' | ' | ' | |||
Net transfer In (Out) of Level 3 (a) | ' | ' | ' | |||
Balance at End of Period | $41,500,000 | $41,000,000 | $41,000,000 | |||
[1] | (a)The net transfers in and out of Level 3 during Fiscal 2012 was exclusively to or from Level 2. | |||||
[2] | The net transfers in and out of Level 3 during Fiscal 2014 were exclusively to or from Level 2. | |||||
[3] | (a)The net transfers in and out of Level 3 during Fiscal 2013 was exclusively to or from Level 2. |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments - Financial Assets and Liabilities Not Measured at Fair Value (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Document Period End Date | 30-Sep-14 | ' |
Asset Backed Loans And Other Invested Assets | $811.60 | $560.40 |
Fair Value, Inputs, Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 1,319.20 | 1,899.70 |
Asset Backed Loans And Other Invested Assets | ' | ' |
Assets Fair Value Disclosure And Measurement | 1,319.20 | 1,899.70 |
Debt Instrument, Fair Value Disclosure | ' | ' |
Redeemable preferred stock, excluding equity conversion feature | ' | ' |
Liabilities Related to Investment Contracts, Fair Value Disclosure | ' | ' |
Financial Liabilities Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Asset Backed Loans And Other Invested Assets | ' | ' |
Assets Fair Value Disclosure And Measurement | 0 | 0 |
Debt Instrument, Fair Value Disclosure | 5,308.50 | 4,773.20 |
Redeemable preferred stock, excluding equity conversion feature | ' | ' |
Liabilities Related to Investment Contracts, Fair Value Disclosure | ' | ' |
Financial Liabilities Fair Value Disclosure | 5,308.50 | 4,773.20 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Asset Backed Loans And Other Invested Assets | 811.6 | 560.4 |
Assets Fair Value Disclosure And Measurement | 963.3 | 591.6 |
Debt Instrument, Fair Value Disclosure | ' | ' |
Redeemable preferred stock, excluding equity conversion feature | ' | 377.1 |
Liabilities Related to Investment Contracts, Fair Value Disclosure | 13,108.80 | 12,378.60 |
Financial Liabilities Fair Value Disclosure | 13,108.80 | 12,755.70 |
Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 1,319.20 | 1,899.70 |
Asset Backed Loans And Other Invested Assets | 811.6 | 560.4 |
Assets Fair Value Disclosure And Measurement | 2,282.50 | 2,491.30 |
Debt Instrument, Fair Value Disclosure | 5,308.50 | 4,773.20 |
Redeemable preferred stock, excluding equity conversion feature | ' | 377.1 |
Liabilities Related to Investment Contracts, Fair Value Disclosure | 13,108.80 | 12,378.60 |
Financial Liabilities Fair Value Disclosure | 18,417.30 | 17,528.90 |
Reported Value Measurement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 1,319.20 | 1,899.70 |
Asset Backed Loans And Other Invested Assets | 811.6 | 560.4 |
Assets Fair Value Disclosure And Measurement | 2,282.50 | 2,491.30 |
Debt Instrument, Fair Value Disclosure | 5,157.80 | 4,896.10 |
Redeemable preferred stock, excluding equity conversion feature | ' | 329.4 |
Liabilities Related to Investment Contracts, Fair Value Disclosure | 14,555.40 | 13,703.80 |
Financial Liabilities Fair Value Disclosure | 19,713.20 | 18,929.30 |
Policy loans | Fair Value, Inputs, Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Policy loans and other invested assets | ' | ' |
Policy loans | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Policy loans and other invested assets | ' | ' |
Policy loans | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Policy loans and other invested assets | 151.7 | 31.2 |
Policy loans | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Policy loans and other invested assets | 151.7 | 31.2 |
Policy loans | Reported Value Measurement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Policy loans and other invested assets | $151.70 | $31.20 |
Fair_Value_of_Financial_Instru6
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | 12 Months Ended | ||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ||
Document Period End Date | 30-Sep-14 | ' | ' | ||
Impairment of proved oil and natural gas properties | $81,000,000 | $54,300,000 | $0 | ||
Percentage of female contractholder | 50.00% | ' | ' | ||
Percentage of male contractholder | 50.00% | ' | ' | ||
Fair Value Assets, level 1 to level 2 transfers | 0 | 0 | 0 | ||
Net transfer In (Out) of Level 3 (a) | -23,900,000 | -53,000,000 | -731,800,000 | [1] | |
Transfers, assets, level 2 to 1 | 0 | 0 | ' | ||
Transfers, liabilities, level 1 to 2 | 0 | 0 | ' | ||
Transfers, liabilities, level 2 to 1 | 0 | 0 | ' | ||
Net transfer level 3 | 0 | 30,900,000 | [2] | ' | |
United States Government and government agencies and authorities | ' | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ||
Fair Value Assets, level 1 to level 2 transfers | 79,300,000 | ' | ' | ||
Asset-backed and Hybrid Securities | ' | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ||
Fair Value Assets, unobservable inputs, transfers out of level 3 | 23,900,000 | ' | ' | ||
Corporate and Non-Agency Residential Mortgage-Backed Securities | ' | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ||
Fair Value Assets, unobservable inputs, transfers out of level 3 | ' | ' | -53,000,000 | ||
Commercial Mortgage Loan [Member] | ' | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ||
Loans Receivable, Fair Value Disclosure | $135,400,000 | ' | ' | ||
[1] | (a)The net transfers in and out of Level 3 during Fiscal 2012 was exclusively to or from Level 2. | ||||
[2] | (a)The net transfers in and out of Level 3 during Fiscal 2013 was exclusively to or from Level 2. |
Receivables_net_Schedule_of_Re
Receivables, net - Schedule of Receivables (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
In Millions, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Trade accounts receivable | $508.60 | $535.40 | ' | ' |
Less: Allowance for doubtful trade accounts receivable | 48.6 | 37.4 | 21.9 | 14.1 |
Total trade accounts receivable, net | 460 | 498 | ' | ' |
Contingent purchase price reduction receivable (Note 4) | 41.5 | 41 | ' | ' |
Other receivables | 83.6 | 72.3 | ' | ' |
Total receivables, net | 585.1 | 611.3 | ' | ' |
Consumer Products Segment | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Trade accounts receivable | 487.7 | 518.7 | ' | ' |
Total receivables, net | 515.3 | 546.9 | ' | ' |
Energy Segment | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Trade accounts receivable | 20.3 | 16.7 | ' | ' |
Total receivables, net | 23.7 | 22.2 | ' | ' |
Other | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Trade accounts receivable | $0.60 | $0 | ' | ' |
Receivables_net_Summary_of_Ana
Receivables, net - Summary of Analysis of Allowance for Doubtful Trade Accounts Receivables (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Allowance for Doubtful Accounts Receivable [Roll Forward] | ' | ' | ' |
Balance at Beginning of Period | $37.40 | $21.90 | $14.10 |
Charged to Costs and Expenses | 7.4 | 15.5 | 7.8 |
Deductions | -2.4 | 0 | 0 |
Other Adjustments | 6.2 | 0 | 0 |
Balance at End of Period | $48.60 | $37.40 | $21.90 |
Inventories_net_Inventories_ne1
Inventories, net Inventories, net (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Components of Inventory [Abstract] | ' | ' |
Raw materials | $104.10 | $97.30 |
Work-in-process | 35.3 | 40.6 |
Finished goods | 495.8 | 495 |
Total inventories, net | $635.20 | $632.90 |
Properties_including_oil_and_g2
Properties, including oil and gas properties, net Additional Information (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Oil And Gas Property Full Cost Method Cost Not Amortized | $20.20 | $36.40 | ' |
Proved developed and undeveloped oil and natural gas properties | 493.9 | 546 | ' |
Less: Accumulated depletion | -68.4 | -30.1 | ' |
Total oil and natural gas properties, net | 445.7 | 552.3 | ' |
Land, buildings and improvements | 815.9 | 726 | ' |
Less: Accumulated depreciation | 353 | 285 | ' |
Total other properties, net | 462.9 | 441 | ' |
Total properties, including oil and natural gas properties, net | 908.6 | 993.3 | ' |
Impairment of oil and natural gas properties | 81 | 54.3 | 0 |
Land, buildings and improvements | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Land, buildings and improvements | 166.9 | 169.8 | ' |
Gas gathering assets | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Land, buildings and improvements | 21.1 | 21.1 | ' |
Machinery, equipment and other | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Land, buildings and improvements | 496.3 | 420.6 | ' |
Assets Held under Capital Leases [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Land, buildings and improvements | 99.3 | 67.7 | ' |
Construction in progress | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Land, buildings and improvements | 32.3 | 46.8 | ' |
Compass | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Impairment of oil and natural gas properties | 81 | 54.3 | ' |
Unproved Oil and Natural Gas Properties and Development Costs Not Being Amortized | Compass | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Capitalized Costs, Unproved Properties | $20.20 | ' | ' |
Goodwill_and_Intangibles_inclu2
Goodwill and Intangibles, including DAC and VOBA, net - Summary of Changes in Carrying Amounts of Goodwill and Intangible Assets Including FGL's DAC and VOBA Balances (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Intangible Assets, Including Goodwill [Roll Forward] | ' | ' | ' |
Beginning Balance, Goodwill | $1,476.70 | $694.20 | ' |
Beginning Balance, Indefinite Lived Intangible Assets | 1,178.10 | 841.1 | ' |
Beginning Balance, Finite Lived Intangible Assets | 985.1 | ' | ' |
Beginning Balance, Intangible Assets, Excluding Goodwill | 2,729.10 | 1,988.50 | ' |
Goodwill, Acquired During Period | 65.8 | 786.6 | ' |
Acquisitions (Note 3), Indefinite Lived Intangible Assets | 46.7 | 331 | ' |
Acquisitions (Note 13) | 70.2 | 519.3 | ' |
Deferrals | 239 | 147.4 | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | -179.2 | -260.1 | -224.3 |
Adjustment for unrealized investment (gains), net, Goodwill | -156.8 | 327.3 | ' |
Effect of translation, Goodwill | -17.7 | -4.1 | ' |
Effect of translation, Indefinite Lived intangible assets | -8.9 | 6 | ' |
Effect of translation, Intangible Assets Excluding Goodwill | -18.6 | 6.7 | ' |
Ending Balance, Goodwill | 1,524.80 | 1,476.70 | 694.2 |
Ending Balance, Indefinite Lived Intangible Assets | 1,215.90 | 1,178.10 | 841.1 |
Ending Balance, Finite Lived Intangible Assets | 917.2 | 985.1 | ' |
Ending Balance, Intangible Assets, Excluding Goodwill | 2,683.70 | 2,729.10 | 1,988.50 |
Periodic amortization | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Goodwill Amortization | ' | ' | ' |
Indefinite Lived Intangible Assets, Amortization | ' | ' | ' |
Amortization of Intangible Assets | -232.1 | -334.5 | ' |
Interest | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Goodwill Amortization | ' | ' | ' |
Indefinite Lived Intangible Assets, Amortization | ' | ' | ' |
Amortization of Intangible Assets | 28.6 | 31.3 | ' |
Unlocking | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Goodwill Amortization | ' | ' | ' |
Indefinite Lived Intangible Assets, Amortization | ' | ' | ' |
Amortization of Intangible Assets | 24.3 | 43.1 | ' |
Goodwill | ' | ' | ' |
Intangible Assets, Including Goodwill [Roll Forward] | ' | ' | ' |
Deferrals | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Adjustment for unrealized investment (gains), net, Goodwill | ' | ' | ' |
Definite Lived Intangible Assets | ' | ' | ' |
Intangible Assets, Including Goodwill [Roll Forward] | ' | ' | ' |
Beginning Balance, Finite Lived Intangible Assets | 985.1 | 873.9 | ' |
Acquisitions (Note 3), Finite-Lived Intangible Assets | 23.5 | 188.3 | ' |
Deferrals | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | -81.7 | -77.8 | -63.7 |
Adjustment for unrealized investment (gains), net, Goodwill | ' | ' | ' |
Effect of translation, Finite Lived intangible assets | -9.7 | 0.7 | ' |
Ending Balance, Finite Lived Intangible Assets | 917.2 | 985.1 | 873.9 |
Definite Lived Intangible Assets | Periodic amortization | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | -81.7 | -77.8 | ' |
Definite Lived Intangible Assets | Interest | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | ' | ' | ' |
Definite Lived Intangible Assets | Unlocking | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | ' | ' | ' |
VOBA | ' | ' | ' |
Intangible Assets, Including Goodwill [Roll Forward] | ' | ' | ' |
Beginning Balance, Finite Lived Intangible Assets | 225.3 | 104.3 | ' |
Acquisitions (Note 3), Finite-Lived Intangible Assets | ' | ' | ' |
Deferrals | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | -55.8 | -137 | -145.5 |
Adjustment for unrealized investment (gains), net, Goodwill | -82.7 | 258 | ' |
Effect of translation, Finite Lived intangible assets | ' | ' | ' |
Ending Balance, Finite Lived Intangible Assets | 86.8 | 225.3 | 104.3 |
VOBA | Periodic amortization | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | -92.4 | -194.6 | ' |
VOBA | Interest | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | 15 | 21.8 | ' |
VOBA | Unlocking | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | 21.6 | 35.8 | ' |
DAC | ' | ' | ' |
Intangible Assets, Including Goodwill [Roll Forward] | ' | ' | ' |
Beginning Balance, Finite Lived Intangible Assets | 340.6 | 169.2 | ' |
Acquisitions (Note 3), Finite-Lived Intangible Assets | ' | ' | ' |
Deferrals | 239 | 147.4 | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | -41.7 | -45.3 | -15.2 |
Adjustment for unrealized investment (gains), net, Goodwill | -74.1 | 69.3 | ' |
Effect of translation, Finite Lived intangible assets | ' | ' | ' |
Ending Balance, Finite Lived Intangible Assets | 463.8 | 340.6 | 169.2 |
DAC | Periodic amortization | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | -58 | -62.1 | ' |
DAC | Interest | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | 13.6 | 9.5 | ' |
DAC | Unlocking | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Amortization of Intangible Assets | 2.7 | 7.3 | ' |
Indefinite Lived Intangible Assets | ' | ' | ' |
Intangible Assets, Including Goodwill [Roll Forward] | ' | ' | ' |
Deferrals | ' | ' | ' |
Less: Components of amortization: | ' | ' | ' |
Adjustment for unrealized investment (gains), net, Goodwill | ' | ' | ' |
Goodwill_and_Intangibles_inclu3
Goodwill and Intangibles, including DAC and VOBA, net - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets amortization method | 'straight-line method | ' | ' |
Goodwill, Acquired During Period | $65.80 | $786.60 | ' |
Amortization of intangibles | 179.2 | 260.1 | 224.3 |
Finite-Lived Intangible Assets, Accumulated Amortization | 323.2 | 244.5 | ' |
2014 | 77.5 | ' | ' |
2015 | 78.5 | ' | ' |
2016 | 78.5 | ' | ' |
2017 | 78.5 | ' | ' |
2018 | 78.5 | ' | ' |
VOBA | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Cumulative adjustments for net unrealized investment gains | -164.2 | -81.4 | ' |
Amortization of intangibles | 55.8 | 137 | 145.5 |
Finite-Lived Intangible Assets, Accumulated Amortization | 338.4 | 270.5 | ' |
2014 | 42.8 | ' | ' |
2015 | 38.4 | ' | ' |
2016 | 31.2 | ' | ' |
2017 | 25 | ' | ' |
2018 | 25.5 | ' | ' |
DAC | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Cumulative adjustments for net unrealized investment gains | -55.5 | 18.6 | ' |
Amortization of intangibles | 41.7 | 45.3 | 15.2 |
Deferred sales inducements, net of shadow adjustments | 32.7 | 26.2 | ' |
Minimum | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period, intangible asset | '1 year | ' | ' |
Accretion Rate, VOBA | 4.00% | ' | ' |
Maximum | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period, intangible asset | '20 years | ' | ' |
Accretion Rate, VOBA | 5.00% | ' | ' |
Weighted average | VOBA | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period, intangible asset | '4 years 9 months 18 days | ' | ' |
Hardware Acquisition | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Goodwill, Acquired During Period | $0 | ' | ' |
Russel Hobbs 2007 Plan [Member] | Maximum | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,000 | ' | ' |
Employee Stock Option | HGI's executive bonus plan | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,100 | ' | ' |
Compass | Compass Incentive Plan | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 647 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,000 | ' | ' |
Goodwill_and_Intangibles_inclu4
Goodwill and Intangibles, including DAC and VOBA, net - Summary of Definite Lived Intangible Assets (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 |
In Millions, unless otherwise specified | Minimum | Maximum | Customer relationships | Customer relationships | Customer relationships | Customer relationships | Trade names | Trade names | Trade names | Trade names | Technology assets | Technology assets | Technology assets | Technology assets | ||
Minimum | Maximum | Minimum | Maximum | Minimum | Maximum | |||||||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost | $1,240.40 | $1,229.60 | ' | ' | $877.10 | $885.90 | ' | ' | $171.10 | $171.60 | ' | ' | $192.20 | $172.10 | ' | ' |
Accumulated Amortization | -323.2 | -244.5 | ' | ' | -204.6 | -160.8 | ' | ' | -61 | -44.7 | ' | ' | -57.6 | -39 | ' | ' |
Net | $917.20 | $985.10 | ' | ' | $672.50 | $725.10 | ' | ' | $110.10 | $126.90 | ' | ' | $134.60 | $133.10 | ' | ' |
Amortizable Life | ' | ' | '1 year | '20 years | ' | ' | '15 years | '20 years | ' | ' | '1 year | '12 years | ' | ' | '4 years | '17 years |
Goodwill_and_Intangibles_inclu5
Goodwill and Intangibles, including DAC and VOBA, net - Summary of Amortization Expense of Definite Lived Intangible Assets (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization of intangibles | $179.20 | $260.10 | $224.30 |
Customer relationships | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization of intangibles | 46.7 | 44.9 | 40.2 |
Trade names | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization of intangibles | 16.4 | 16.6 | 14.4 |
Technology assets | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization of intangibles | 18.6 | 16.3 | 9.1 |
Definite Lived Intangible Assets | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization of intangibles | $81.70 | $77.80 | $63.70 |
Goodwill_and_Intangibles_inclu6
Goodwill and Intangibles, including DAC and VOBA, net - Estimated Amortization Expense for VOBA and DAC in Future Fiscal Periods (Detail) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Schedule Of Amortization Expense And Weighted Average Lives Of Identified Intangible Assets [Line Items] | ' |
2014 | $77.50 |
2015 | 78.5 |
2016 | 78.5 |
2017 | 78.5 |
2018 | 78.5 |
VOBA | ' |
Schedule Of Amortization Expense And Weighted Average Lives Of Identified Intangible Assets [Line Items] | ' |
2014 | 42.8 |
2015 | 38.4 |
2016 | 31.2 |
2017 | 25 |
2018 | 25.5 |
2019 and thereafter | $88.10 |
Accounts_Payable_and_Other_Cur2
Accounts Payable and Other Current Liabilities Additional Information (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Accounts Payable and Other Current Liabilities [Abstract] | ' | ' |
Accounts payable | $535.70 | $530.30 |
Wages and benefits | 157.5 | 134.2 |
Accrued interest | 57.9 | 53.4 |
Income taxes payable | 39.9 | 48.9 |
Oil and Gas Sales Payable and Royalties Payable, Current | 14.4 | 14.9 |
Accrued expenses and other | 215.8 | 206.1 |
Restructuring and related charges | 11.8 | 16.7 |
Accrued dividends on Preferred Stock | 0 | 8.2 |
Total accounts payable and other current liabilities | $1,033 | $1,012.70 |
Debt_Summary_of_Debt_Detail
Debt - Summary of Debt (Detail) (USD $) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 11, 2014 | 30-May-14 | 14-May-14 | Jan. 21, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Mar. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 18, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 18, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 |
6.625% Senior Notes, due November 15, 2022 | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | FGLH | FGLH | Compass | Compass | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | United States of America, Dollars | United States of America, Dollars | United States of America, Dollars | Euro Member Countries, Euro | Euro Member Countries, Euro | Euro Member Countries, Euro | Canada, Dollars | Canada, Dollars | Compass Credit Agreement | |||
7.875% Senior Secured Notes, due July 15, 2019 | 7.875% Senior Secured Notes, due July 15, 2019 | 7.875% Senior Secured Notes, due July 15, 2019 | 10.625% Senior Secured Notes, due November 15, 2015 | 10.625% Senior Secured Notes, due November 15, 2015 | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Term Loan Due September 4, 2019 | Term Loan Due September 4, 2019 | Former term loan facility | 6.75% Senior Notes, due March 15, 2020 | 6.75% Senior Notes, due March 15, 2020 | 6.75% Senior Notes, due March 15, 2020 | 6.375% Senior Notes due 2020 | 6.375% Senior Notes due 2020 | 6.375% Senior Notes due 2020 | 6.625% Senior Notes, due November 15, 2022 | 6.625% Senior Notes, due November 15, 2022 | 6.625% Senior Notes, due November 15, 2022 | ABL Facility, expiring May 24, 2017 | ABL Facility, expiring May 24, 2017 | Other notes and obligations | Other notes and obligations | Capitalized lease obligations | Capitalized lease obligations | 6.375% Senior Notes, Due April 1, 2021 | 6.375% Senior Notes, Due April 1, 2021 | EXCO/HGI JV Credit Agreement, due February 14, 2018 | EXCO/HGI JV Credit Agreement, due February 14, 2018 | Unaffiliated long-term debt of consolidated variable-interest entity | Unaffiliated long-term debt of consolidated variable-interest entity | Secured Borrowings Related to non-qualifying participating loan interests [Member] | Secured Borrowings Related to non-qualifying participating loan interests [Member] | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Compass | ||||||
Term Loan Due December 17, 2019 | Term Loan Due December 17, 2019 | Term Loan Due December 17, 2019 | Euro Term Loan, Due September 4, 2019 [Member] | Euro Term Loan, Due September 4, 2019 [Member] | Euro Term Loan, Due September 4, 2019 [Member] | Term Loan Due December 17, 2019 | Term Loan Due December 17, 2019 | EXCO/HGI JV Credit Agreement, due February 14, 2018 | |||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | $1,470.90 | ' | ' | $604.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | 5,194.50 | 4,909.70 | ' | 1,354.40 | 924.2 | ' | 925 | ' | ' | 498 | 750 | 200 | 550 | 0 | 200 | ' | 648.4 | 850 | 370.2 | 300 | 300 | ' | 520 | 520 | ' | 570 | 570 | ' | 0 | 0 | 36.6 | 28.5 | 94.7 | 67.4 | 300 | 300 | ' | ' | 193 | 182.9 | 106.8 | ' | 0 | 513.3 | 513.3 | 283.3 | 225 | 0 | 34.2 | 81.4 | ' |
Line of cedit, amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 271.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 243.2 |
Long-term debt, interest rate | ' | ' | 6.63% | ' | ' | 7.90% | 0.00% | 7.88% | ' | 10.63% | 7.75% | ' | ' | ' | ' | ' | 3.00% | 3.00% | ' | 6.80% | 6.80% | 6.75% | 6.38% | 6.40% | 6.38% | 6.63% | 6.60% | 6.63% | 2.50% | 5.70% | 8.80% | 8.50% | 6.10% | 6.20% | 6.38% | 0.00% | 2.70% | 0.00% | 6.70% | 0.00% | 10.80% | ' | 0.00% | ' | 4.60% | 3.80% | ' | 0.00% | 5.10% | 5.10% | ' |
Original issuance (discounts) premiums on debt, net | -36.7 | -13.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Debt | 5,157.80 | 4,896.10 | ' | 1,325 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less current maturities | -96.7 | -102.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-current portion of debt | $5,061.10 | $4,793.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Scheduled_Maturities_of_D
Debt - Scheduled Maturities of Debt and Capital Lease Payments (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
2017 | $256.30 | ' |
2016 | 563.7 | ' |
2015 | 77.6 | ' |
2014 | 97.4 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 1,470.90 | ' |
Thereafter | 2,728.60 | ' |
Long-term Debt | 5,194.50 | 4,909.70 |
HGI | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 604.4 | ' |
Thereafter | 750 | ' |
Long-term Debt | $1,354.40 | $924.20 |
Debt_Additional_Information_De
Debt - Additional Information (Detail) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Jan. 21, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Jul. 23, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 11, 2014 | 30-May-14 | 14-May-14 | Jan. 21, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Oct. 06, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Mar. 31, 2012 | Sep. 30, 2014 | Dec. 18, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Aug. 29, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Feb. 14, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Feb. 28, 2013 | Feb. 14, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 23, 2013 | Feb. 28, 2013 | Sep. 23, 2013 | Feb. 28, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | 30-May-14 | Sep. 30, 2014 | Dec. 18, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 18, 2013 | Sep. 30, 2013 | |
USD ($) | USD ($) | USD ($) | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | 6.625% Notes | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | FGLH | FGLH | FGLH | FGLH | FGLH [Member] | FGLH [Member] | Compass | Compass | Compass | Compass | Compass | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Salus Capital Partners LLC | Exchange of Senior Secured Notes for Senior Unsecured Notes [Member] | Exchange of Senior Secured Notes for Senior Unsecured Notes [Member] | Exchange of Senior Secured Notes for Senior Unsecured Notes [Member] | Euro Member Countries, Euro | Euro Member Countries, Euro | Euro Member Countries, Euro | United States of America, Dollars | United States of America, Dollars | United States of America, Dollars | |
LIBOR | ABR | LIBOR | ABR | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | 10.625% Senior Secured Notes, due November 15, 2015 | 10.625% Senior Secured Notes, due November 15, 2015 | 7.875% Senior Secured Notes, due July 15, 2019 | 7.875% Senior Secured Notes, due July 15, 2019 | 7.875% Senior Secured Notes, due July 15, 2019 | 7.875% Senior Secured Notes, due July 15, 2019 | Seven Point Eight Seven Five Percent Senior Notes New Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | ABL Facility, expiring May 24, 2017 | ABL Facility, expiring May 24, 2017 | ABL Facility, expiring May 24, 2017 | 9.5% Senior Secured Notes, due June 15, 2018 | 6.375% Senior Notes due 2020 | 6.375% Senior Notes due 2020 | 6.375% Senior Notes due 2020 | 6.625% Notes | 6.625% Notes | 6.625% Notes | 6.625% Notes | Term Loan, due December 17, 2019 | Term Loan, due December 17, 2019 | Term Loan, due December 17, 2019 | Term Loan, due December 17, 2019 | Term Loan, due December 17, 2019 | Term Loan Due September 4, 2019 | Term Loan Due September 4, 2019 | Term Loan Due September 4, 2019 | Term Loan Due September 4, 2019 | Previous Term Loan Facility | 6.375% Notes and 6.625% Notes | 6.375% Senior Notes, Due April 1, 2021 | 6.75% Senior Notes, due March 15, 2020 | 6.75% Senior Notes, due March 15, 2020 | 6.75% Senior Notes, due March 15, 2020 | Term Loan Due September 4, 2017 [Member] | Term Loan Due September 4, 2017 [Member] | Term Loan Due September 4, 2017 [Member] | USD ($) | 6.375% Senior Notes, Due April 1, 2021 | 6.375% Senior Notes, Due April 1, 2021 | 6.375% Senior Notes, Due April 1, 2021 | FGL Revolving Credit Facility [Member] | FGL Revolving Credit Facility [Member] | Compass Credit Agreement | Compass Credit Agreement | EXCO/HGI JV Credit Agreement, due February 14, 2018 | EXCO/HGI JV Credit Agreement, due February 14, 2018 | EXCO/HGI JV Credit Agreement, due February 14, 2018 | USD ($) | USD ($) | USD ($) | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Maximum | Maximum | Unaffiliated long-term debt of consolidated variable-interest entity | Unaffiliated long-term debt of consolidated variable-interest entity | Unaffiliated long-term debt of consolidated variable-interest entity | Unaffiliated long-term debt of consolidated variable-interest entity | Unaffiliated long-term debt of consolidated variable-interest entity | Unaffiliated long-term debt of consolidated variable-interest entity | Secured Borrowings Related to non-qualifying participating loan interests [Member] | Secured Borrowings Related to non-qualifying participating loan interests [Member] | HGI | HGI | HGI | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | |||||||
Compass Credit Agreement | Compass Credit Agreement | Compass Credit Agreement | Compass Credit Agreement | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Other assets | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Other assets | USD ($) | CAD | USD ($) | Other assets | Other assets | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Other assets | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Minimum | USD ($) | USD ($) | USD ($) | Compass Credit Agreement | USD ($) | USD ($) | USD ($) | USD ($) | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | USD ($) | USD ($) | Variable Interest Entity, Primary Beneficiary | Variable Interest Entity, Primary Beneficiary | Minimum | Maximum | USD ($) | USD ($) | 7.875% Senior Secured Notes, due July 15, 2019 | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Seven Point Seven Five Percent Senior Unsecured Notes [Member] | Euro Term Loan, Due September 4, 2019 [Member] | Euro Term Loan, Due September 4, 2019 [Member] | Euro Term Loan, Due September 4, 2019 [Member] | Term Loan Due December 17, 2019 | Term Loan Due December 17, 2019 | Term Loan Due December 17, 2019 | |||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | LIBOR | LIBOR | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | $2,800,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion Rate, VOBA | ' | ' | ' | 4.00% | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | 5,194,500,000 | 4,909,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,354,400,000 | 924,200,000 | ' | 498,000,000 | ' | ' | ' | 925,000,000 | ' | ' | 750,000,000 | 200,000,000 | 550,000,000 | 0 | 200,000,000 | ' | ' | ' | ' | ' | 520,000,000 | 520,000,000 | ' | 570,000,000 | 570,000,000 | ' | ' | ' | ' | ' | ' | ' | 648,400,000 | ' | 850,000,000 | ' | 370,200,000 | ' | ' | 300,000,000 | 300,000,000 | ' | 509,900,000 | 215,000,000 | 300,000,000 | ' | 300,000,000 | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 193,000,000 | 182,900,000 | ' | ' | ' | ' | 106,800,000 | ' | 320,600,000 | 350,000,000 | ' | 283,300,000 | 225,000,000 | 0 | 0 | 513,300,000 | 513,300,000 |
Debt Principal Redeemable at Future Date, Percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write off of Deferred Debt Issuance Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.2 | ' | ' |
Principal Amount of Debt Received in Exchange | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,091.71 | ' | ' | ' | ' | ' | ' |
Long-term debt, interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.63% | ' | ' | ' | ' | ' | 10.63% | ' | 7.88% | 7.90% | 0.00% | ' | ' | 7.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.38% | 6.40% | 6.38% | 6.63% | 6.60% | 6.63% | ' | ' | ' | ' | ' | ' | 3.00% | ' | 3.00% | ' | ' | ' | ' | 6.80% | 6.80% | 6.75% | 3.60% | ' | 3.60% | ' | 6.38% | 0.00% | ' | ' | ' | ' | ' | 2.70% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.70% | 0.00% | ' | ' | ' | ' | 10.80% | ' | ' | ' | ' | 3.80% | ' | 0.00% | 0.00% | ' | 4.60% |
Discharge of remaining outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash charges on Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash charges for fees and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash charges related to the Satisfaction and Discharge | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cash charges for the write down/write-off of debt issuance costs and discount/premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Issue Price As Percentage Of Principle Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.36% | ' | ' | 101.50% | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original issuance discounts on debt, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | ' | ' | ' | 5,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other assets | 421,900,000 | 281,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | 3,700,000 | 5,600,000 | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | 5,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.2 | ' | ' | ' | ' | 10,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense | 321,900,000 | 511,900,000 | 251,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 89,700,000 | 120,100,000 | 56,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption price of debt instrument to percentage of principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument principal amount redemption percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from repurchase of equity, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 107.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption percentage of aggregate debt outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess Statutory Capital over Requirement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 910,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt, face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000,000 | ' | ' | 225,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 520,000,000 | ' | ' | 570,000,000 | ' | 800,000,000 | 100,000,000 | 1,150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 1,470,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 604,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17-Dec-19 | 17-Dec-19 | ' | ' | ' | ' | ' | ' | ' | 17-Jun-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustment to increase interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Extinguishment of debt, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 950,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | 0.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -10,400,000 | -25,100,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' | 14,100,000 | ' | ' | ' | 16,900,000 | ' | 16,400,000 | 0 | ' | ' | ' | ' | 12,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum percentage of aggregate outstanding principal held by registered holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset based lending revolving credit facility, before increase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset based lending revolving credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000,000 | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Extended maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'May 24, 2017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate borrowing availability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 266,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net of lender reserves | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Dividends Paid to Parent Company from Debt Issuance Proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 73,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit agreement, minimum percentage of secuity interest in oil and gas properties collateralizing borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, amount outstanding to partnership | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 327,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of cedit, amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 271,200,000 | 243,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis spread on variable rate | ' | ' | ' | ' | 1.75% | 0.75% | ' | 2.75% | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.25% | 11.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit agreement, partnership required to enter into derivative financial instruments, minimum percentage covering forecasted proved natural gas production, year one | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit agreement, partnership required to enter into derivative financial instruments, minimum percentage covering forecasted proved natural gas production, year two | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit agreement, partnership required to enter into derivative financial instruments, maximum percentage covering forecasted proved natural gas production, year one and two | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit agreement, partnership required to enter into derivative financial instruments, maximum percentage covering forecasted proved natural gas production, year three | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit agreement, partnership required to enter into derivative financial instruments, maximum percentage covering forecasted proved natural gas production, year four and five | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, convenant terms, current ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of cedit facility, covenant terms, ratio of indebtedness to EBITDAX | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Collateralized loan obligation of consolidated VIE | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 182,900,000 | 181,800,000 | 192,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
VIE, consolidated carrying amount obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 485,000,000 | 484,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset-based loans | 811,600,000 | 560,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 136,500,000 | 166,900,000 | 331,100,000 | ' | 331,100,000 | 325,000,000 | 175,500,000 | 550,000,000 | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of debt discount | $4,600,000 | $3,000,000 | $1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,500,000 | $500,000 | $600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Temporary_Equity_Additional_In
Temporary Equity - Additional Information (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 9 Months Ended | ||||||||||||||||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Apr. 01, 2012 | Aug. 05, 2011 | 13-May-11 | 13-May-11 | Aug. 05, 2011 | 13-May-11 | Jun. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Aug. 05, 2011 | 13-May-11 | 13-May-11 | 13-May-11 | 13-May-11 | Jun. 30, 2014 |
Series A Preferred Stock [Member] | Series A Redeemable Convertible Preferred Stock | Series A Redeemable Convertible Preferred Stock | Common Stock | Common Stock | Common Stock | Series A-2 Redeemable Convertible Preferred Stock | Series A-2 Redeemable Convertible Preferred Stock | Series A-2 Redeemable Convertible Preferred Stock | Series A-2 Redeemable Convertible Preferred Stock | Scenario NAV Threshold 3 [Member] | Scenario NAV Threshold 2 [Member] | Scenario NAV Threshold 1 [Member] | Gain loss upon conversion of convertible preferred stock [Member] | |||||||
Temporary Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Temporary equity, shares issued | ' | ' | ' | ' | ' | ' | 280 | 120 | ' | ' | ' | ' | ' | ' | ' | 95 | ' | ' | ' | ' |
Preferred Stock, Value, Outstanding | ' | ' | ' | ' | $400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock conversion price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $6.50 | ' | ' | ' | ' | ' | $7 | ' | ' | ' | ' | ' |
Temporary equity liquidation preference, minimum threshold rate | ' | ' | ' | ' | ' | 150.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, dividend rate | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, paid in kind dividend rate | ' | ' | 0.00% | 2.00% | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 2.00% | 4.00% | ' |
Shares converted at conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19 | 6 | ' | ' | ' | ' | ' | ' |
Shares issued at conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | 59,134 | 2,900 | 852 | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value of Preferred Stock | ' | 329.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less: Preferred stock dividends, accretion and loss on conversion | $73.60 | $48.40 | $59.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $43.90 |
Temporary_Equity_Schedule_of_T
Temporary Equity - Schedule of Temporary Equity (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Temporary Equity [Line Items] | ' | ' |
Carrying value of Preferred Stock | ' | $329.40 |
Permanent_Equity_Accumulated_O
Permanent Equity - Accumulated Other Comprehensive Income (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Gross amounts (after reclassification adjustments) | $695.30 | $192.90 |
Intangible assets adjustments | -219.6 | -62.8 |
Tax effects | -189.5 | -57.9 |
Noncontrolling interest | -42.6 | 15.5 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 243.6 | 87.7 |
Accumulated Net Unrealized Investment Gain (Loss) | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Gross amounts (after reclassification adjustments) | 762.2 | 235.7 |
Intangible assets adjustments | -220 | -63.2 |
Tax effects | -190.1 | -61.1 |
Noncontrolling interest | -68.5 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 283.6 | 111.4 |
Accumulated Other-than-Temporary Impairment | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Gross amounts (after reclassification adjustments) | -1 | -1 |
Intangible assets adjustments | 0.4 | 0.4 |
Tax effects | 0.2 | 0.2 |
Noncontrolling interest | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -0.4 | -0.4 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Gross amounts (after reclassification adjustments) | 13.1 | -2.6 |
Intangible assets adjustments | ' | ' |
Tax effects | -3.9 | 0.3 |
Noncontrolling interest | -3.8 | 0.9 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 5.4 | -1.4 |
Accumulated Defined Benefit Plans Adjustment | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Gross amounts (after reclassification adjustments) | -36.2 | -28.9 |
Intangible assets adjustments | ' | ' |
Tax effects | 0.8 | -0.8 |
Noncontrolling interest | 13.6 | 11.9 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -21.8 | -17.8 |
Accumulated Translation Adjustment | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Gross amounts (after reclassification adjustments) | -42.8 | -10.3 |
Intangible assets adjustments | ' | ' |
Tax effects | 3.5 | 3.5 |
Noncontrolling interest | 16.1 | 2.7 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | ($23.20) | ($4.10) |
Permanent_Equity_Share_Repurch
Permanent Equity - Share Repurchase Plan (Details) (USD $) | 12 Months Ended |
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2014 |
Schedule of Share Repurchases [Abstract] | ' |
Stock Repurchased and Retired During Period, Shares | 5,197 |
Treasury Stock Acquired, Average Cost Per Share | $12.62 |
Payments for Repurchase of Equity | $65.60 |
Permanent_Equity_Additional_In
Permanent Equity - Additional Information (Details) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Equity [Abstract] | ' |
Equity in restricted net assets of consolidated subsidiaries | $1,941 |
Percentage of stockholders' equity | 134.60% |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | $100 |
Employee_Benefit_Obligations_C
Employee Benefit Obligations - Components of Consolidated Net Periodic Benefit and Deferred Compensation Benefit Costs and Contributions Made (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $204.50 | $190.80 | ' |
Pension Plan, Defined Benefit | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 204.5 | 190.8 | 168.6 |
Components of net periodic benefit cost: | ' | ' | ' |
Service cost | 3.5 | 3 | ' |
Interest cost | 11.2 | 10.6 | ' |
Recognized net actuarial loss | -15.3 | -1.1 | ' |
Employee contributions | 0 | -0.1 | ' |
Contributions made during period | 13.8 | 12.9 | ' |
Pension Plan, Defined Benefit | US Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 78 | 73.8 | ' |
Pension Plan, Defined Benefit | International Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $126.50 | $117 | ' |
Employee_Benefit_Obligations_S
Employee Benefit Obligations - Schedule of Pension and Other Post-retirement benefit plans (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $204.50 | $190.80 | ' |
Defined Benefit Plan, Business Combinations and Acquisitions, Plan Assets | 0 | 6.7 | ' |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 5.50% | ' | ' |
Accumulated other comprehensive income | 243.6 | 87.7 | ' |
Tax effects | -189.5 | -57.9 | ' |
Noncontrolling interest | -42.6 | 15.5 | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 100.00% | ' | ' |
Defined Contribution Plan, Employer Discretionary Contribution Amount | 13.9 | 12.1 | 2.8 |
Pension Plan, Defined Benefit | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Funded Status of Plan | -82.6 | -83.7 | ' |
Benefit obligation, beginning of year | 274.5 | 260.7 | ' |
Defined Benefit Plan, Business Combinations and Acquisitions, Benefit Obligation | 0 | 14.7 | ' |
Service cost | 3.5 | 3 | ' |
Interest cost | 11.2 | 10.6 | ' |
Recognized net actuarial (gain) loss | 15.3 | 1.1 | ' |
Participant contributions | 0 | 0.1 | ' |
Benefits paid | -11.5 | -17.4 | ' |
Defined Benefit Plan, Curtailments | 0 | -1.5 | ' |
Foreign currency exchange rate changes | -5.9 | 3.2 | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 204.5 | 190.8 | 168.6 |
Actual return on plan assets | 13.8 | 18.3 | ' |
Employer contributions | 13.8 | 12.9 | ' |
Foreign currency exchange rate changes | -2.4 | 1.6 | ' |
Other Postretirement Benefit Plan, Defined Benefit | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Funded Status of Plan | -0.4 | -0.4 | ' |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.70% | ' | 4.70% |
Benefit obligation, beginning of year | 0.4 | 0.6 | ' |
Defined Benefit Plan, Business Combinations and Acquisitions, Benefit Obligation | 0 | 0 | ' |
Service cost | 0 | 0 | ' |
Interest cost | 0 | 0 | ' |
Recognized net actuarial (gain) loss | 0 | -0.1 | ' |
Participant contributions | 0 | 0 | ' |
Benefits paid | 0 | 0 | ' |
Defined Benefit Plan, Curtailments | ' | -0.1 | ' |
Foreign currency exchange rate changes | 0 | 0 | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | 0 |
Defined Benefit Plan, Business Combinations and Acquisitions, Plan Assets | 0 | 0 | ' |
Actual return on plan assets | 0 | 0 | ' |
Employer contributions | 0 | 0 | ' |
Foreign currency exchange rate changes | 0 | 0 | ' |
Minimum | Pension Plan, Defined Benefit | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 2.00% | ' | 1.80% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 2.00% | ' | 3.60% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 2.30% | ' | 2.30% |
Maximum | Pension Plan, Defined Benefit | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 13.50% | ' | 13.00% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 7.50% | ' | 7.80% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 5.50% | ' | 5.50% |
Accumulated Defined Benefit Plans Adjustment | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Accumulated other comprehensive income | -21.8 | -17.8 | ' |
Tax effects | 0.8 | -0.8 | ' |
Noncontrolling interest | $13.60 | $11.90 | ' |
UNITED STATES | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.20% | ' | 3.90% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 7.50% | ' | 7.60% |
Outside of the United States | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.30% | ' | 3.90% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 4.30% | ' | 4.70% |
Equity Securities | Minimum | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 0.00% | ' | ' |
Equity Securities | Maximum | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 60.00% | ' | ' |
Fixed income securities | Minimum | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 0.00% | ' | ' |
Fixed income securities | Maximum | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 40.00% | ' | ' |
Other plan asset investments | Minimum | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 0.00% | ' | ' |
Other plan asset investments | Maximum | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 100.00% | ' | ' |
Employee_Benefit_Obligations_C1
Employee Benefit Obligations - Components of net periodic benefit cost (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Pension Plan, Defined Benefit | ' | ' | ' |
Components of net periodic benefit cost: | ' | ' | ' |
Service cost | $3.50 | $3 | ' |
Interest cost | 11.2 | 10.6 | ' |
Recognized net actuarial (gain) loss | -15.3 | -1.1 | ' |
Other Postretirement Benefit Plan, Defined Benefit | ' | ' | ' |
Components of net periodic benefit cost: | ' | ' | ' |
Service cost | 0 | 0 | ' |
Interest cost | 0 | 0 | ' |
Recognized net actuarial (gain) loss | 0 | 0.1 | ' |
Net Periodic Benefit Cost | Pension Plan, Defined Benefit | ' | ' | ' |
Components of net periodic benefit cost: | ' | ' | ' |
Service cost | 3.5 | 3.4 | 2.4 |
Interest cost | 11.2 | 10.6 | 11.4 |
Expected return on assets | -11 | -9.7 | -9.1 |
Amortization of prior service cost | 0 | 0 | 0.1 |
Amortization of transition obligation | -0.1 | -0.8 | 0 |
Recognized net actuarial (gain) loss | 1.5 | 2.1 | 0.9 |
Net periodic cost (benefit) | 5.1 | 5.6 | 5.7 |
Net Periodic Benefit Cost | Other Postretirement Benefit Plan, Defined Benefit | ' | ' | ' |
Components of net periodic benefit cost: | ' | ' | ' |
Service cost | 0 | 0 | 0 |
Interest cost | 0 | 0 | 0.1 |
Expected return on assets | 0 | 0 | 0 |
Amortization of prior service cost | 0 | 0 | 0 |
Amortization of transition obligation | 0 | 0 | 0 |
Recognized net actuarial (gain) loss | 0 | 0 | -0.1 |
Net periodic cost (benefit) | $0 | $0 | $0 |
Employee_Benefit_Obligations_S1
Employee Benefit Obligations - Summary of Pension Plan Assets as of Measurement Date (Details) | 12 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension plan asset allocation, target | 100.00% | ' |
Pension plan asset allocations | 100.00% | 100.00% |
Equity Securities | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension plan asset allocations | 27.00% | 52.00% |
Fixed income securities | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension plan asset allocations | 28.00% | 19.00% |
Other plan asset investments | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension plan asset allocations | 45.00% | 29.00% |
Minimum | Equity Securities | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension plan asset allocation, target | 0.00% | ' |
Minimum | Fixed income securities | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension plan asset allocation, target | 0.00% | ' |
Minimum | Other plan asset investments | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension plan asset allocation, target | 0.00% | ' |
Maximum | Equity Securities | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension plan asset allocation, target | 60.00% | ' |
Maximum | Fixed income securities | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension plan asset allocation, target | 40.00% | ' |
Maximum | Other plan asset investments | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension plan asset allocation, target | 100.00% | ' |
Employee_Benefit_Obligations_E1
Employee Benefit Obligations - Expected Future Pension Benefit Payments (Details) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Compensation and Retirement Disclosure [Abstract] | ' |
2014 | $13.80 |
2015 | 12 |
2016 | 12.2 |
2017 | 12.7 |
2018 | 13.7 |
2019 to 2023 | $72.10 |
Employee_Benefit_Obligations_S2
Employee Benefit Obligations - Schedule of Plan Assets (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $204.50 | $190.80 |
Fair Value, Inputs, Level 1 | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 45.7 | 39.4 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 158.8 | 151.4 |
Common Stock [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 34.2 | 43 |
Common Stock [Member] | Fair Value, Inputs, Level 1 | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 19.9 | 18.5 |
Common Stock [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Common Stock [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14.3 | 24.5 |
Equity Securities, Foreign-listed [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 20.8 | 49.9 |
Equity Securities, Foreign-listed [Member] | Fair Value, Inputs, Level 1 | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 11.1 | 10.8 |
Equity Securities, Foreign-listed [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Equity Securities, Foreign-listed [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 9.7 | 39.1 |
Life insurance contracts [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 37.7 | 37.7 |
Life insurance contracts [Member] | Fair Value, Inputs, Level 1 | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Life insurance contracts [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Life insurance contracts [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 37.7 | 37.7 |
Other benefit plan assets [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 39.7 | 1 |
Other benefit plan assets [Member] | Fair Value, Inputs, Level 1 | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Other benefit plan assets [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Other benefit plan assets [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 39.7 | 1 |
U.S. Corporate and Government Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 24.6 | 22 |
U.S. Corporate and Government Bonds [Member] | Fair Value, Inputs, Level 1 | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 4 | 2.3 |
U.S. Corporate and Government Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
U.S. Corporate and Government Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 20.6 | 19.7 |
Benefit Plan Assets, Foreign Cash and Cash Equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 8.2 | 11.9 |
Benefit Plan Assets, Foreign Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 6.4 | 6.6 |
Benefit Plan Assets, Foreign Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Benefit Plan Assets, Foreign Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 1.8 | 5.3 |
Foreign Government Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 8.6 | 8 |
Foreign Government Bonds [Member] | Fair Value, Inputs, Level 1 | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Foreign Government Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Foreign Government Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 8.6 | 8 |
Real Estate Investments [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 7.1 | 6.6 |
Real Estate Investments [Member] | Fair Value, Inputs, Level 1 | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 1.2 | 1.2 |
Real Estate Investments [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Real Estate Investments [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 5.9 | 5.4 |
Foreign Corporate Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 23.6 | 10.7 |
Foreign Corporate Bonds [Member] | Fair Value, Inputs, Level 1 | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 3.1 | 0 |
Foreign Corporate Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Foreign Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $20.50 | $10.70 |
Reinsurance_Effect_of_Reinsura
Reinsurance - Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Insurance Premiums: | ' | ' | ' |
Direct | $409.30 | $414.70 | $415.90 |
Assumed | 35.9 | 32.8 | 47.2 |
Ceded | -317.5 | -328.2 | -369.5 |
Benefits and Other Changes in Insurance Policy Reserves: | ' | ' | ' |
Net | 852.7 | 531.8 | 777.4 |
Life Insurance Product Line | ' | ' | ' |
Insurance Premiums: | ' | ' | ' |
Direct | 266.8 | 279.2 | 298 |
Assumed | 35.9 | 32.8 | 47.2 |
Ceded | -246.1 | -253.2 | -289.9 |
Net | 56.6 | 58.8 | 55.3 |
Benefits and Other Changes in Insurance Policy Reserves: | ' | ' | ' |
Direct | 1,103.30 | 776.5 | 1,033.40 |
Assumed | 33 | 23.3 | 34.9 |
Ceded | -283.6 | -268 | -290.9 |
Net | $852.70 | $531.80 | $777.40 |
Reinsurance_Additional_Informa
Reinsurance - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 31, 2014 | Oct. 01, 2012 | Jun. 17, 2013 | Mar. 31, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | Raven Re | Fgl Reinsurance Agreement With Fsr | Fgl Reinsurance Agreement With Fsr | Bankers Life Insurance Company [Member] | Bankers Life Insurance Company [Member] | Nomura | Nomura | Nomura | Wilton Re Recission [Member] | reinsurance recission [Member] | reinsurance recission [Member] | reinsurance recission [Member] | ||
Wilton Reassurance Company | ||||||||||||||
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for Reinsurance | ' | ' | ' | $1,400 | ' | $153 | $153 | ' | ' | ' | $6.40 | ' | ' | ' |
Contractholder funds | 16,463.50 | 15,248.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ReinsuranceRecissionGainLoss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.9 | ' | ' | ' |
Pre-tax gain on reinsurance transactions deferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14.3 | 12.6 | 18 |
Excess Statutory Capital over Requirement | ' | ' | 3.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reserve financing facility | ' | ' | ' | ' | ' | ' | ' | ' | 251.3 | 295 | ' | ' | ' | ' |
Upfront structuring fee | ' | ' | ' | ' | ' | ' | ' | 2.8 | ' | ' | ' | ' | ' | ' |
Letter of Credit Future Quarterly Reductions | ' | ' | ' | ' | ' | ' | ' | $6.30 | ' | ' | ' | ' | ' | ' |
Reinsurance arrangment in percentage | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Compensation_Consolidate
Stock Compensation - Consolidated Stock Compensation Expense (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Stock compensation | $91.10 | $61.50 | $31.20 |
Stock_Compensation_Summary_of_
Stock Compensation - Summary of Stock Options Outstanding and Related Activity (Detail) (USD $) | 6 Months Ended | 12 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 |
Stock option awards | Stock option awards | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | |
FGLH | FGLH | HGI | HGI | HGI | FGLH | FGL | |
Options (in shares): | ' | ' | ' | ' | ' | ' | ' |
Stock options outstanding at September 30, 2013 | ' | ' | 3,954 | ' | ' | 335 | 0 |
Granted | 207 | 195 | 1,356 | 1,734 | 2,275 | 0 | 249 |
Exercised | ' | ' | -526 | ' | ' | -105 | 0 |
Forfeited or expired | ' | ' | -160 | ' | ' | -5 | -7 |
Stock options outstanding at September 30, 2014 | ' | ' | 4,624 | 3,954 | ' | 225 | 242 |
Stock options vested and exercisable at September 30, 2014 | ' | ' | 1,448 | ' | ' | 99 | 0 |
Stock options outstanding and expected to vest | ' | ' | 3,176 | ' | ' | 122 | 231 |
Weighted Average Exercise Price (in dollars per share): | ' | ' | ' | ' | ' | ' | ' |
Stock options outstanding at September 30, 2013 | ' | ' | $6.52 | ' | ' | $44.23 | $0 |
Granted | ' | ' | $11.75 | ' | ' | $0 | $17 |
Exercised | ' | ' | $5.27 | ' | ' | $39.86 | $0 |
Forfeited or expired | ' | ' | $8.14 | ' | ' | $47.30 | $17 |
Stock options outstanding at September 30, 2014 | ' | ' | $8.14 | $6.52 | ' | $46.19 | $17 |
Stock options vested and exercisable at September 30, 2014 | ' | ' | $7.45 | ' | ' | $46.68 | $0 |
Stock options outstanding and expected to vest | ' | ' | $8.46 | ' | ' | $46.15 | $17 |
Weighted Average Grant Date Fair Value (in dollars per share): | ' | ' | ' | ' | ' | ' | ' |
Stock options outstanding at September 30, 2013 | ' | ' | $2.55 | ' | ' | ' | $0 |
Granted | ' | ' | $4.91 | ' | ' | ' | $3.76 |
Exercised | ' | ' | $1.92 | ' | ' | ' | $0 |
Forfeited or expired | ' | ' | $3.27 | ' | ' | ' | $5.26 |
Stock options outstanding at September 30, 2014 | ' | ' | $3.28 | $2.55 | ' | ' | $3.72 |
Stock options vested and exercisable at September 30, 2014 | ' | ' | $2.96 | ' | ' | ' | $0 |
Stock options outstanding and expected to vest | ' | ' | $3.43 | ' | ' | ' | $3.64 |
Stock_Compensation_Summary_of_1
Stock Compensation - Summary of Restricted Stock and Restricted Stock Units Outstanding and Related Activity (Detail) (USD $) | 12 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 |
FGL | FGL | FGL | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | Spectrum Brands | FGLH | |||
Performance Restricted Stock Unit (PRSUs) [Member] | Performance Restricted Stock Unit (PRSUs) [Member] | Restricted stock awards | Restricted stock awards | Restricted stock awards | Restricted stock awards | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | ' | ' |
Shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nonvested awards at beginning of period | ' | ' | ' | 0 | 0 | ' | ' | ' | 3,456 | ' | ' | 22 | ' | ' | 1,118 | 46 |
Granted | ' | ' | 53 | 578 | 179 | ' | ' | ' | 3,325 | 3,319 | 838 | ' | 9 | 22 | 669 | ' |
Exercised / Released | ' | ' | ' | ' | 0 | ' | ' | ' | -1,154 | ' | ' | -22 | ' | ' | -954 | -18 |
Forfeited | ' | ' | ' | ' | -7 | ' | ' | ' | -197 | ' | ' | 0 | ' | ' | 6 | -2 |
Nonvested awards at end of period | ' | ' | ' | 578,000 | 172 | ' | ' | ' | 5,430 | 3,456 | ' | 7 | 22 | ' | 827 | 26 |
Restricted stock units vested and exercisable at September 30, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Restricted award expected to vest | ' | ' | ' | ' | 159 | ' | ' | ' | 5,418 | ' | ' | 7 | ' | ' | 827 | 25 |
Weighted Average Grant Date Fair Value (in dollars per share): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nonvested awards at beginning of period (in dollars per share) | ' | ' | ' | $0 | $0 | ' | ' | ' | $7.72 | ' | ' | $4.61 | ' | ' | $39.11 | $49.60 |
Granted | ' | ' | ' | $17.37 | $18.25 | $46,700,000 | $34,600,000 | $0 | $12 | ' | ' | $11.84 | ' | ' | $75.50 | $0 |
Exercised / Released | $15,200,000 | $0 | ' | ' | $0 | ' | ' | ' | $10.18 | ' | ' | $4.61 | ' | ' | $39.69 | $49.53 |
Forfeited | ' | ' | ' | ' | $19.98 | ' | ' | ' | $9.57 | ' | ' | ' | ' | ' | $69.33 | $49.45 |
Nonvested awards at end of period (in dollars per share) | ' | ' | ' | ' | $18.18 | ' | ' | ' | $9.76 | $7.72 | ' | $11.84 | $4.61 | ' | ' | $49.55 |
Restricted stock units vested and exercisable at September 30, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | $0 | ' |
Restricted award expected to vest | ' | ' | ' | $17.37 | $18.03 | ' | ' | ' | $9.75 | ' | ' | $11.84 | ' | ' | $67.66 | $49.55 |
Stock_Compensation_Summary_of_2
Stock Compensation - Summary of Warrant Awards (Details) (HGI, Warrant [Member], USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
HGI | Warrant [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,000 | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $13.13 | $0 |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Options Nonvested Weighted Average Grant Date Fair Value | $3.22 | $0 |
Granted | 3,000 | ' |
Granted | $13.13 | ' |
Granted | $3.22 | ' |
Stock options vested and exercisable at September 30, 2014 | 600 | ' |
Stock options vested and exercisable at September 30, 2014 | $13.13 | ' |
Stock options vested and exercisable at September 30, 2014 | $3.22 | ' |
Stock options outstanding and expected to vest | 2,400 | ' |
Stock options outstanding and expected to vest | $13.13 | ' |
Restricted award expected to vest | $3.22 | ' |
Stock_Compensation_Assumptions
Stock Compensation - Assumptions Used in Determination of Grant Date Fair Values Using Black-Scholes Option Pricing Model (Detail) | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Mar. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | |
FGLH | FGLH | HGI | FGL | FGL | FGL | FGL | FGL | FGLH [Member] | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | Employee Stock Option | |
Minimum | Minimum | Minimum | Minimum | Maximum | Maximum | Minimum | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | FGL | FGL | FGL | FGL | FGLH [Member] | FGLH [Member] | |||
Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Minimum | Minimum | Maximum | Maximum | Minimum | Maximum | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.37% | 0.84% | 0.97% | 1.70% | 1.86% | 1.19% | 1.40% | 0.80% | 1.41% | ' | 0.80% | ' |
Assumed dividend yield | 6.00% | 10.00% | ' | 1.00% | ' | ' | 1.50% | ' | ' | 0.00% | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected option term | ' | ' | '6 years 0 months 0 days | ' | '4 years 6 months | '4 years 6 months | ' | ' | '4 years 6 months | ' | ' | ' | '5 years 0 months 0 days | '5 years 3 months 18 days | ' | '5 years 10 months 24 days | '6 years 2 months 12 days | ' | ' | ' | ' | ' | ' | ' |
Volatility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37.76% | 41.90% | 33.00% | 39.75% | 44.00% | 35.50% | 25.00% | 27.00% | ' | ' | 35.00% | ' |
Stock_Compensation_Schedule_of
Stock Compensation - Schedule of Incentive Plan Activity (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2014 |
Compass | Compass | Compass | |||
Compass Incentive Plan | Compass Incentive Plan | ||||
Shares: | ' | ' | ' | ' | ' |
Nonvested awards at beginning of period | ' | ' | ' | ' | 102 |
Granted | ' | ' | ' | 83 | 323 |
Nonvested awards at end of period | ' | ' | ' | ' | 270 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ' | ' | ' | ' | ' |
Nonvested awards at beginning of period (in dollars per share) | ' | ' | ' | ' | $10 |
Granted | ' | ' | ' | ' | $7.90 |
Nonvested awards at end of period (in dollars per share) | ' | ' | ' | ' | $8.67 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | ' | ' | ' | ' | 137 |
Exercised / Released | $15,200,000 | $0 | ' | ' | $7.88 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | ' | ' | 18 | ' | ' |
Forfeited | ' | ' | $8.44 | ' | ' |
Stock_Compensation_Additional_
Stock Compensation - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Mar. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2014 | Mar. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
Minimum | Minimum | Minimum | Maximum | Maximum | HGI's executive bonus plan | HGI's executive bonus plan | Employee Stock Option | Restricted stock awards | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | HGI | FGLH | FGLH | FGLH | FGLH | FGLH | FGLH | FGLH | FGLH | FGLH | FGL | FGL | FGL | FGL | FGL | Compass | Compass | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | Spectrum Brands | 2011 HGI Plan, as amended [Member] | 2011 HGI Plan, as amended [Member] | 2014 HGI Warrant Plan [Member] | 2014 HGI Warrant Plan [Member] | Spectrum 2009 Plan [Member] | Russel Hobbs 2007 Plan [Member] | Spectrum Brands 2011 Plan [Member] | Spectrum Brands 2011 Plan [Member] | Deferred Bonus [Member] | ||||
Minimum | Maximum | HGI's executive bonus plan | HGI's executive bonus plan | Stock option awards | Employee Stock Option | Employee Stock Option | Employee Stock Option | Restricted stock awards | Restricted stock awards | Restricted stock awards | Restricted stock units | Restricted stock units | Restricted stock units | Warrant [Member] | Stock option awards | Stock option awards | Stock option awards | Stock option awards | Stock option awards | Employee Stock Option | Restricted stock awards | Restricted stock units | Maximum | Performance Restricted Stock Unit (PRSUs) [Member] | Performance Restricted Stock Unit (PRSUs) [Member] | Employee Stock Option | Restricted stock awards | Compass Incentive Plan | Compass Incentive Plan | Minimum | Minimum | Minimum | Maximum | Service Based Vesting [Member] | Immediate Vest Restricted Stock Units [Member] | Restricted stock units | Restricted stock units | Restricted stock units | Time Based Restricted Stock Units Vesting From One Year To Two Year | Time Based Restricted Stock Units Vesting From One Year To Two Year | Time Based Restricted Stock Units Vesting From One Year To Two Year | Performance-based and Time-based Shares | Performance-based and Time-based Shares | Performance-based and Time-based Shares | Performance Shares [Member] | Performance Based Vesting [Member] | Performance Based Vesting [Member] | Maximum | Maximum | Warrant [Member] | Maximum | Maximum | Maximum | HGI's executive bonus plan | ||||||||||||||||||
Minimum | Minimum | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation | $91.10 | $61.50 | $31.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $27 | $11.70 | $1.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Capital Shares Reserved for Future Issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,557,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options, granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,356,000 | 1,734,000 | 2,275,000 | ' | ' | ' | 7,000 | ' | ' | 3,000,000 | ' | 207,000 | ' | ' | 195,000 | ' | 0 | ' | ' | ' | ' | ' | 249,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity intruments other than options granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,325,000 | 3,319,000 | 838,000 | ' | 9,000 | 22,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53,000 | 578,000 | ' | 179,000 | 83,000 | 323,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 669,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period | ' | ' | ' | ' | '1 month | '4 months | '4 years | '4 years | '12 months | '36 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '3 years | '3 years | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $46,700,000 | $34,600,000 | $0 | ' | ' | ' | ' | $12 | ' | ' | $11.84 | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | $17.37 | ' | $18.25 | ' | $7.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $75.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised / Released | $15,200,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10.18 | ' | ' | $4.61 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $49.53 | ' | ' | ' | ' | $0 | ' | $7.88 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $39.69 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 3.6 | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | 2.8 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11.75 | ' | ' | ' | ' | ' | ' | ' | ' | $13.13 | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | $17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,000,000 | 3,000,000 | ' | 3,000,000 | 1,000,000 | ' | 6,000,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized, Additional Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000 | ' | ' | ' | ' | ' | 1,000,000 | ' | ' |
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35 |
Compensation cost not yet recognized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost expected to recognized, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 8 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 9 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average remaining contractual term of outstanding stock option awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '8 years 2 months 8 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 647,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation, shares, restricted stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 863,000 | 669,000 | 700,000 | ' | ' | ' | ' | ' | 203,000 | ' | ' | ' | 143,000 | 48,000 | 160,000 | 323,000 | 562,000 | 703,000 | 652,000 | 90,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity instruments other than options, grant date fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.5 | 32.2 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Time-based and vest over period of restricted stock units | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '1 year | '1 year | '2 years | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Grant date fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.80 | $14.20 | $2 | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Schedule_of_Compo
Income Taxes - Schedule of Components of Income Tax Expense (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Components Of Deferred Income Tax Assets And Liabilities [Line Items] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | $213.20 | $118.30 | $25.40 |
Deferred income taxes | -5.5 | 170.7 | -197.4 |
Reported income tax expense (benefit) | 111.5 | 187.3 | -85.3 |
H G I | ' | ' | ' |
Components Of Deferred Income Tax Assets And Liabilities [Line Items] | ' | ' | ' |
Current Federal Tax Expense (Benefit) | 64.2 | -32.5 | 74.4 |
Current Foreign Tax Expense (Benefit) | 46.6 | 47.7 | 38.1 |
Current State and Local Tax Expense (Benefit) | 6.2 | 1.4 | -0.4 |
Current Income Tax Expense (Benefit) | 117 | 16.6 | 112.1 |
Deferred Federal Income Tax Expense (Benefit) | 12.4 | 169 | -199.2 |
Deferred Foreign Income Tax Expense (Benefit) | -8.3 | 2.1 | 5.2 |
Deferred State and Local Income Tax Expense (Benefit) | -9.6 | -0.4 | -3.4 |
Deferred income taxes | -5.5 | 170.7 | -197.4 |
Reported income tax expense (benefit) | 111.5 | 187.3 | -85.3 |
Outside of the United States | ' | ' | ' |
Components Of Deferred Income Tax Assets And Liabilities [Line Items] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 204 | 197.2 | 171.9 |
UNITED STATES | ' | ' | ' |
Components Of Deferred Income Tax Assets And Liabilities [Line Items] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | $9.20 | ($78.90) | ($146.50) |
Income_Taxes_Reconciliation_to
Income Taxes - Reconciliation to effective income tax rate (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Expected income tax expense at Federal statutory rate | $74.60 | $41.40 | $8.90 |
Valuation allowance for deferred tax assets | -47.4 | 151.8 | -139.6 |
Preferred stock equity conversion feature | 4.4 | 35.6 | 54.8 |
Residual tax on foreign earnings | 90.9 | -7 | 29.8 |
Foreign rate differential | -23.1 | -18.8 | -14.1 |
Provision-to-return | -7.7 | 0 | 0 |
Gain on contingent purchase price reduction | 0 | 0 | -14.3 |
Permanent items | 6.5 | 5.7 | 9.5 |
Non-deductible stock based compensation | 1.4 | 1.7 | 0 |
Exempt foreign income | -5.7 | -5.9 | -5.8 |
Unrecognized tax benefits | 2.2 | 4.1 | -4.4 |
State and local income taxes | 0.8 | -32.2 | -8.5 |
Dividends received deduction | 0 | 1.4 | -0.9 |
Inflationary adjustments | -0.5 | -0.2 | -0.8 |
Capitalized transaction costs | 1 | 5.6 | 0.3 |
Other | 14.1 | 4.1 | -0.2 |
Reported income tax expense (benefit) | $111.50 | $187.30 | ($85.30) |
Effective tax rate | 52.30% | 158.30% | -335.90% |
Income_Taxes_Components_of_Def
Income Taxes - Components of Deferred Income Tax Assets and Liabilities (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Income Taxes [Line Items] | ' | ' |
Deferred Tax Assets, Net, Current | $43 | $47.90 |
Deferred Tax Liabilities, Net, Current | -7.9 | -14.8 |
Deferred Tax Assets, Net, Noncurrent | 909.9 | 873.3 |
Deferred Tax Liability Noncurrent | -1,291.60 | -1,105.60 |
Deferred tax liabilities (Note 21) | 533.3 | 492.8 |
Deferred Tax Assets, Net | 952.9 | 921.2 |
Deferred tax assets (Note 21) | 186.7 | 293.4 |
Deferred Tax Liabilities, Net | -1,299.50 | -1,120.40 |
Current | ' | ' |
Income Taxes [Line Items] | ' | ' |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits | 22.9 | 15.4 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Restructuring Charges | 6.3 | 7.1 |
Deferred Tax Assets, Inventory | 25.6 | 24.3 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation | 6.4 | 5.4 |
Deferred Tax Assets Marketing and Promotional Accruals | 16 | 14.1 |
Deferred Tax Assets Capitalized Transaction Costs | 0 | 0.1 |
Deferred Tax Assets, Unrealized Losses on Available-for-Sale Securities, Gross | 14.7 | 12.6 |
Deferred Tax Assets, Other | 17.2 | 23.9 |
Deferred Tax Assets, Valuation Allowance | -66.1 | -55 |
Deferred Tax Liabilities, Inventory | -0.7 | -2.7 |
Deferred Tax Liabilities, Unrealized Gains on Trading Securities | -1.2 | -0.4 |
Deferred Tax Liabilities, Other | -6 | -11.7 |
Noncurrent | ' | ' |
Income Taxes [Line Items] | ' | ' |
Deferred Tax Liability, Long Term Debt | 10 | 0 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits | 61.4 | 49.5 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Restructuring Charges | 0.7 | 0.3 |
Deferred Tax Assets Capitalized Transaction Costs | 0.6 | 0.6 |
Deferred Tax Assets, Unrealized Losses on Available-for-Sale Securities, Gross | 0.3 | 2.1 |
Deferred Tax Assets, Operating Loss Carryforwards | 930.6 | 1,029.50 |
Deferred Tax Assets, Other | 76.6 | 32.8 |
Deferred Tax Assets, Valuation Allowance | -712.4 | -762.2 |
Deferred Tax Liabilities, Unrealized Gains on Trading Securities | -20 | -13.1 |
Deferred Tax Liabilities, Other | -19.3 | -23.4 |
Deferred Tax Assets Prepaid Royalties | 6.6 | 7 |
Deferred Tax Assets, Property, Plant and Equipment | 9 | 9.7 |
Deferred Tax Assets Long Term Debt | 0 | 0.7 |
Deferred Tax Assets, Goodwill and Intangible Assets | 8.5 | 3.9 |
Deferred Tax Assets Deferred Acquisition Costs | 0.4 | 0.4 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Policyholder Liabilities | 483.8 | 477.7 |
Deferred Tax Assets, Equity Method Investments | 43.8 | 21.3 |
Deferred Tax Liabilities, Property, Plant and Equipment | -22.6 | -27.5 |
Deferred Tax Liabilities, Intangible Assets | -744.1 | -735.5 |
Deferred Tax Liabilities Value of Business Acquired | -20.8 | -67.3 |
Deferred Tax Assets Acquisition Costs | -104.2 | -63.7 |
Deferred Tax Liabilities Tax on Unremitted Foreign Earnings | -2.6 | -18.6 |
Deferred Tax Liabilities, Investments | -338.3 | -156.5 |
Deferred Tax Liability, Funds Withheld Receivables from Reinsurance Agreements | $9.70 | $0 |
Income_Taxes_Summary_of_Change
Income Taxes - Summary of Changes to Unrecognized Tax Benefits Reserves Excluding Related Interest and Penalties (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $9.30 | ' | ' |
Unrecognized Tax Benefits that Would Result in Deferred Tax Assets | 3.3 | ' | ' |
Accrued interest and penalties related to the uncertain tax positions | 4.1 | ' | 3.7 |
Increase Decrease Interest And Penalties | 1.8 | -1.2 | 0 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Unrecognized tax benefits | 13.8 | 5.9 | 9 |
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | 2.7 | 9.1 | 0.7 |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | -1.4 | -0.3 | -1.3 |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 0.8 | 0.5 | 0.8 |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | -2.5 | -0.1 | -1.7 |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | -0.8 | -1.3 | -1.6 |
Unrecognized tax benefits | $12.60 | $13.80 | $5.90 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Income Taxes [Line Items] | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | ($47,400,000) | $151,800,000 | ($139,600,000) |
Document Period End Date | 30-Sep-14 | ' | ' |
Deferred tax assets (Note 21) | 186,700,000 | 293,400,000 | ' |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 213,200,000 | 118,300,000 | 25,400,000 |
Statutory rate | 35.00% | ' | ' |
Effective income tax rate | 52.30% | 158.30% | -335.90% |
UNITED STATES | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 9,200,000 | -78,900,000 | -146,500,000 |
Outside of the United States | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 204,000,000 | 197,200,000 | 171,900,000 |
Spectrum Brands | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | 333,100,000 | ' | 454,600,000 |
Net Increase (Release) In Valuation Allowance | 121,500,000 | ' | ' |
Undistributed Earnings of Foreign Subsidiaries | 351,500,000 | ' | ' |
Cumulative Unremitted Earnings | 3,100,000 | ' | 45,700,000 |
Foreign Earnings Repatriated | 190,500,000 | ' | 12,500,000 |
Spectrum Brands | U S Federal | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | 299,100,000 | ' | 421,700,000 |
Net Increase (Release) In Valuation Allowance | 122,600,000 | ' | ' |
Operating Loss Carryforwards | 1,087,800,000 | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 301,700,000 | ' | ' |
Relase of Valuation Allowance Due To Acquisition | 62,600,000 | ' | 49,800,000 |
Deferred Tax Liabilities Basis In Assets Acquired | ' | ' | 49,800,000 |
Spectrum Brands | State and Local Jurisdiction | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 70,300,000 | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 16,800,000 | ' | ' |
Spectrum Brands | Foreign Tax Authority | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | 34,000,000 | ' | 32,800,000 |
Net Increase (Release) In Valuation Allowance | 1,100,000 | ' | ' |
Operating Loss Carryforwards | 106,500,000 | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 88,800,000 | ' | ' |
FGLH | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | 118,800,000 | ' | 158,700,000 |
Deferred tax assets (Note 21) | 137,400,000 | ' | 240,500,000 |
Operating Loss Carryforwards | 92,500,000 | ' | 92,700,000 |
Deferred Tax Assets, Gross | 256,200,000 | ' | 399,200,000 |
Capital Loss Carry Forward | 259,100,000 | ' | 350,400,000 |
Low Income Housing Tax Credit Carryforwards | 54,300,000 | ' | 54,200,000 |
Alternative Minimum Tax Credit Carry Forward | 6,300,000 | ' | 6,300,000 |
FGLH | Life and Non Life Insurance Companies, net [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net Increase (Release) In Valuation Allowance | -40,100,000 | ' | -18,900,000 |
FGLH | Life Insurance Company | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net Increase (Release) In Valuation Allowance | 43,000,000 | ' | 20,700,000 |
FGLH | Non Life Insurance Companies | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | 40,800,000 | ' | ' |
Net Increase (Release) In Valuation Allowance | 2,900,000 | ' | 1,800,000 |
FGLH | Capital Loss Carryforward [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | 78,000,000 | ' | 118,800,000 |
FGLH | Net Operating Loss [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | ' | ' | 39,900,000 |
FGL | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | 40.1 | ' | ' |
Income Tax Expense (Benefit) on Unrealized Built in Gain on Securities Available for Sale | 23,700,000 | ' | ' |
Deferred Tax Assets, Capital Loss Carryforwards | 255,000,000 | ' | ' |
Tax Credit Carryforward, Expiration Date | 31-Dec-15 | ' | ' |
Spectrum Brands | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating Loss Carryforwards, Expiration Date | 1-Jan-34 | ' | ' |
HGI | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | 279,900,000 | ' | 204,000,000 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -9,400,000 | -47,000,000 | 89,500,000 |
HGI | U S Federal | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 497,300,000 | ' | ' |
Capital Loss Carryforwards | 35,500,000 | ' | ' |
HGI | State and Local Jurisdiction | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 16,300,000 | ' | ' |
Additional Paid-in Capital | Spectrum Brands | U S Federal | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 45,500,000 | ' | ' |
Other Restructuring [Member] | Spectrum Brands | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Foreign Earnings Repatriated | 178,700,000 | ' | ' |
Maximum | FGL | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Unrealized Built-in Gain on Securities Available for Sale, Amount Realized in Period | 67,800,000 | ' | ' |
Tax Credit Carryforward, Expiration Date | 31-Dec-19 | ' | ' |
Unrealized Built-in Gain on Securities Available for Sale | $100,000,000 | ' | ' |
Maximum | HGI | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating Loss Carryforwards, Expiration Date | 31-Dec-34 | ' | ' |
Minimum | FGL | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Tax Credit Carryforward, Expiration Date | 31-Dec-15 | ' | ' |
Minimum | HGI | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating Loss Carryforwards, Expiration Date | 31-Dec-29 | ' | ' |
Restructuring_and_related_char2
Restructuring and related charges - Summarization of Restructuring and Related Charges (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charges | $22.90 | $34 | $19.60 |
Consumer products cost of goods sold classification | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charges | 3.7 | 10 | 9.8 |
Selling, acquisition, operating and general expenses classification | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charges | 19.2 | 24 | 9.8 |
Global Cost Reduction Initiatives | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charges | 13.4 | 11.3 | 0 |
Charges Since Inception | 100.7 | ' | ' |
Expected Future Charges | 4.4 | ' | ' |
Total Projected Costs | 105.1 | ' | ' |
Expected Completion Date | 31-Jan-15 | ' | ' |
HHI Business Rationalization Initiatives [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charges | 4.5 | 0 | 0 |
Charges Since Inception | 4.5 | ' | ' |
Expected Future Charges | 4.5 | ' | ' |
Total Projected Costs | 9 | ' | ' |
Expected Completion Date | 30-Sep-16 | ' | ' |
Global Expense Rationalization Initiatives | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charges | 1.3 | 16.4 | 18.7 |
Charges Since Inception | 24.7 | ' | ' |
Expected Future Charges | 21.8 | ' | ' |
Total Projected Costs | 46.5 | ' | ' |
Expected Completion Date | 30-Sep-15 | ' | ' |
Other initiatives | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charges | $3.70 | $6.30 | $0.90 |
Restructuring_and_related_char3
Restructuring and related charges - Additional Information (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charges | $22.90 | $34 | $19.60 |
HHI Business prior to Acquisition by Spectrum Brands Initiatives | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charges | $6.20 | ' | ' |
Restructuring_and_related_char4
Restructuring and related charges - Summary of restructuring and related charges by type and classification (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | $22.90 | $34 | $19.60 |
Consumer products cost of goods sold classification | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | 3.7 | 10 | 9.8 |
Selling, General and Administrative Expenses | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | 19.2 | 24 | 9.8 |
Termination benefits | Global Expense Rationalization Initiatives | Consumer products cost of goods sold classification | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | 1 | 0 | 0 |
Termination benefits | Global Expense Rationalization Initiatives | Selling, General and Administrative Expenses | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | 5.5 | 10.3 | 0 |
Termination benefits | Global Cost Reduction Initiatives | Consumer products cost of goods sold classification | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | 0 | 0.2 | 2.9 |
Termination benefits | Global Cost Reduction Initiatives | Selling, General and Administrative Expenses | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | 0.2 | 6.3 | 3.1 |
Termination benefits | HHI Business prior to Acquisition by Spectrum Brands Initiatives | Consumer products cost of goods sold classification | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | 0 | 0.2 | 0 |
Termination benefits | HHI Business prior to Acquisition by Spectrum Brands Initiatives | Selling, General and Administrative Expenses | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | 4.5 | 0 | 0 |
Other associated benefits | Global Expense Rationalization Initiatives | Selling, General and Administrative Expenses | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | 6.9 | 1.1 | 0 |
Other associated benefits | Global Cost Reduction Initiatives | Consumer products cost of goods sold classification | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | 0.1 | 3.3 | 6.9 |
Other associated benefits | Global Cost Reduction Initiatives | Selling, General and Administrative Expenses | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | 1 | 6.4 | 5.8 |
Other associated benefits | HHI Business prior to Acquisition by Spectrum Brands Initiatives | Consumer products cost of goods sold classification | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | 2.6 | 6.3 | 0 |
Other associated benefits | HHI Business prior to Acquisition by Spectrum Brands Initiatives | Selling, General and Administrative Expenses | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total restructuring and related charges | $1.10 | ($0.10) | $0.90 |
Restructuring_and_related_char5
Restructuring and related charges - Summarization of Remaining Accrual Balance Associated with Initiatives and Activity (Detail) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Accrual Balance at September 30, 2013 | $16.70 | ' | ' | |
Provisions | 10.8 | ' | ' | |
Cash Expenditures | -15.5 | ' | ' | |
Non-Cash Items | -9.2 | ' | -5.2 | |
Accrual Balance at September 30, 2014 | 11.8 | 16.7 | ' | |
Expensed as Incurred | 12.1 | [1] | ' | ' |
Global Expense Rationalization Initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Accrual Balance at September 30, 2013 | 7.3 | ' | ' | |
Provisions | 5 | ' | ' | |
Cash Expenditures | -7 | ' | ' | |
Accrual Balance at September 30, 2014 | 5.5 | ' | ' | |
Expensed as Incurred | 8.4 | [1] | ' | ' |
Global Cost Reduction Initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Accrual Balance at September 30, 2013 | 5.3 | ' | ' | |
Provisions | 0.2 | ' | ' | |
Cash Expenditures | -4.2 | ' | ' | |
Accrual Balance at September 30, 2014 | 1.5 | ' | ' | |
Expensed as Incurred | 1.1 | [1] | ' | ' |
Other initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Accrual Balance at September 30, 2013 | 4.1 | ' | ' | |
Provisions | 5.6 | ' | ' | |
Cash Expenditures | -4.3 | ' | ' | |
Accrual Balance at September 30, 2014 | 4.8 | ' | ' | |
Expensed as Incurred | 2.6 | [1] | ' | ' |
Termination benefits | Global Expense Rationalization Initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Accrual Balance at September 30, 2013 | 7.3 | ' | ' | |
Provisions | 3.5 | ' | ' | |
Cash Expenditures | -7 | ' | ' | |
Accrual Balance at September 30, 2014 | 4.1 | ' | ' | |
Expensed as Incurred | 3 | [1] | ' | ' |
Termination benefits | Global Cost Reduction Initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Accrual Balance at September 30, 2013 | 4.9 | ' | ' | |
Provisions | 0.2 | ' | ' | |
Cash Expenditures | -3.5 | ' | ' | |
Accrual Balance at September 30, 2014 | 1.3 | ' | ' | |
Expensed as Incurred | 0 | [1] | ' | ' |
Other costs | Global Expense Rationalization Initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Accrual Balance at September 30, 2013 | 0 | ' | ' | |
Provisions | 1.5 | ' | ' | |
Cash Expenditures | 0 | ' | ' | |
Accrual Balance at September 30, 2014 | 1.4 | ' | ' | |
Expensed as Incurred | 5.4 | [1] | ' | ' |
Other costs | Global Cost Reduction Initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Accrual Balance at September 30, 2013 | 0.4 | ' | ' | |
Provisions | 0 | ' | ' | |
Cash Expenditures | -0.7 | ' | ' | |
Accrual Balance at September 30, 2014 | 0.2 | ' | ' | |
Expensed as Incurred | 1.1 | [1] | ' | ' |
Spectrum Brands | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Non-Cash Items | -0.2 | ' | ' | |
Spectrum Brands | Global Expense Rationalization Initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Non-Cash Items | 0.2 | ' | ' | |
Spectrum Brands | Global Cost Reduction Initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Non-Cash Items | 0.2 | ' | ' | |
Spectrum Brands | Other initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Non-Cash Items | -0.6 | ' | ' | |
Spectrum Brands | Termination benefits | Global Expense Rationalization Initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Non-Cash Items | 0.3 | ' | ' | |
Spectrum Brands | Termination benefits | Global Cost Reduction Initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Non-Cash Items | -0.3 | ' | ' | |
Spectrum Brands | Other costs | Global Expense Rationalization Initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Non-Cash Items | -0.1 | ' | ' | |
Spectrum Brands | Other costs | Global Cost Reduction Initiatives | ' | ' | ' | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | |
Non-Cash Items | $0.50 | ' | ' | |
[1] | Consists of amounts not impacting the accrual for restructuring and related charges. |
Earnings_Per_Share_Summary_of_
Earnings Per Share - Summary of Basic and Diluted EPS (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income attributable to common and participating preferred stockholders | ($6.30) | $49 | ($87.60) | ($39) | ($202.30) | $91.60 | ($45.50) | $62 | ($83.90) | ($94.20) | $29.90 |
Participating shares at end of period: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 196,878 | 138,876 | 139,357 |
Preferred shares (as-converted basis) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 61,987 | 62,839 |
Total | ' | ' | ' | ' | ' | ' | ' | ' | 196,878 | 200,863 | 202,196 |
Percentage of income loss allocated to: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | 68.90% |
Preferred shares (a) | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | 31.10% |
Net (loss) income attributable to common shares - basic | ' | ' | ' | ' | ' | ' | ' | ' | -83.9 | -94.2 | 20.6 |
Net (loss) income attributable to common shares - diluted | ' | ' | ' | ' | ' | ' | ' | ' | ($83.90) | ($94.20) | $20.60 |
Weighted-average common shares outstanding - basic | ' | ' | ' | ' | ' | ' | ' | ' | 162,941 | 139,856 | 139,356 |
Dilutive effect of unvested restricted stock and restricted stock units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 381 |
Dilutive effect of stock options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 81 |
Weighted-average shares outstanding - diluted | ' | ' | ' | ' | ' | ' | ' | ' | 162,941 | 139,856 | 139,818 |
Net (loss) income per common share attributable to controlling interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in dollars per share) | ($0.03) | $0.28 | ($0.63) | ($0.28) | ($1.45) | $0.45 | ($0.33) | $0.31 | ($0.51) | ($0.67) | $0.15 |
Earnings Per Share, Diluted | ($0.03) | $0.28 | ($0.63) | ($0.28) | ($1.45) | $0.25 | ($0.33) | $0.03 | ($0.51) | ($0.67) | $0.15 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Preferred Stock [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from the calculation of bDiluted net loss per common share attributable to controlling interestb | 37,990 | 62,413 | 61,914 |
Restricted Stock | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from the calculation of bDiluted net loss per common share attributable to controlling interestb | 2,580 | 2,459 | ' |
Equity Option | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from the calculation of bDiluted net loss per common share attributable to controlling interestb | 1,300 | 640 | ' |
Warrant [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from the calculation of bDiluted net loss per common share attributable to controlling interestb | 3,000 | ' | ' |
Share Price | 13.13 | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies - Lease Commitments (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Fiscal Year | ' | ' | ' |
2014 | $49.20 | ' | ' |
2015 | 43 | ' | ' |
2016 | 36.7 | ' | ' |
2017 | 25.6 | ' | ' |
2018 | 18.2 | ' | ' |
Thereafter | 37.3 | ' | ' |
Total minimum lease payments | 210 | ' | ' |
Operating leases, rent expense | $46.80 | $36.90 | $51.30 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | |
Jul. 31, 2012 | Sep. 30, 2014 | Apr. 06, 2011 | |
Commitment And Contingencies [Line Items] | ' | ' | ' |
Reserves for legal, environmental and regulatory matters | ' | $22,800,000 | ' |
Notional amount of unfunded, legally binding lending commitments | ' | 154,500,000 | ' |
Expiration of partial amount of unfunded, legally binding lending commitments | ' | 53,500,000 | ' |
Maximum | ' | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' | ' |
Estimated range of external legal costs | ' | 3,000,000 | ' |
Expiry date of partial amount of notional amount | ' | '1 year | ' |
Expiry date of remainder part of notional amount | ' | '5 years | ' |
Minimum | ' | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' | ' |
Estimated range of external legal costs | ' | 1,000,000 | ' |
Expiry date of remainder part of notional amount | ' | '1 year | ' |
FGLH | ' | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' | ' |
Business Acquisition Fair Value Of Contingent Purchase Price Consideration Reduction | ' | ' | 0 |
Accrued amount of guaranty fund assessments | ' | 4,400,000 | ' |
Estimated future premium tax deductions | ' | 4,600,000 | ' |
Pre-tax charge, net of reinsurance, to increase reserves to cover potential benefits payable | 11,000,000 | ' | ' |
Administrative costs and potential liabilities | ' | 2,000,000 | ' |
Spectrum Brands | ' | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' | ' |
Environmental costs recognized, capitalized | ' | 4,600,000 | ' |
OMGUK CARVM financing fee [Member] | ' | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' | ' |
Reserves for legal, environmental and regulatory matters | ' | 0 | ' |
Cressy Plaintiff [Member] | ' | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' | ' |
Litigation Settlement, Amount | ' | 0 | ' |
Loss Contingency Accrual, Provision | ' | 0 | ' |
Estimated Litigation Liability | ' | 0 | ' |
Loss Contingency, Receivable | ' | 0 | ' |
Unasserted Claim [Member] | FGLH | ' | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' | ' |
Loss Contingency Accrual, Payments | ' | $0.80 | ' |
Insurance_Subsidiary_Financial2
Insurance Subsidiary - Financial Information Schedule of Insurance Subsidiary Financial Information (Details) (USD $) | Nov. 01, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 30, 2012 | Dec. 31, 2012 |
In Millions, unless otherwise specified | FGL Insurance | NEW YORK | NEW YORK | NEW YORK | NEW YORK | MARYLAND | MARYLAND | MARYLAND | MARYLAND |
FGL NY Insurance | FGL NY Insurance | FGL NY Insurance | FGL NY Insurance | FGL Insurance | FGL Insurance | FGL Insurance | FGL Insurance | ||
Statutory Insurance Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Statutory Net Income (Loss) | ' | $2.70 | $1.30 | $1 | ' | $180.30 | $118.20 | $102.20 | ' |
Statutory Capital and Surplus | ($805.80) | $64.10 | $61.90 | ' | $41.10 | $1,134.40 | $1,108.30 | ' | $900.50 |
Insurance_Subsidiary_Financial3
Insurance Subsidiary - Financial Information Additonal Information (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Nov. 01, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 30, 2012 | Dec. 31, 2012 |
FGL Insurance | FGL Insurance | FGL Insurance | Raven Re | Raven Re | MARYLAND | MARYLAND | MARYLAND | MARYLAND | NEW YORK | NEW YORK | NEW YORK | NEW YORK | ||
FGL Insurance | FGL Insurance | FGL Insurance | FGL Insurance | FGL NY Insurance | FGL NY Insurance | FGL NY Insurance | FGL NY Insurance | |||||||
Statutory Accounting Practices [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Statutory Net Income (Loss) | ' | ' | ' | ' | ' | ' | $180.30 | $118.20 | $102.20 | ' | $2.70 | $1.30 | $1 | ' |
Statutory Capital and Surplus | ' | ' | ' | -805.8 | 108.9 | ' | 1,134.40 | 1,108.30 | ' | 900.5 | 64.1 | 61.9 | ' | 41.1 |
Payments of dividends | 124.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends declared but not paid | 124.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Statutory Accounting Practices Statutory Capital And Surplus Change | ' | ($0.80) | $11.50 | ' | $20.50 | $270 | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental_Information_Relat2
Supplemental Information Relating to Oil and Natural Gas Producing Activities (Unaudited) - Costs Incurred in Oil and Gas Property Acquisiton, Exploration, and Development (Details) (Compass, USD $) | 7 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2014 |
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ' | ' |
Proved property acquisition costs | $569.50 | $0 |
Unproved property acquisition costs | 53.9 | 0 |
Total property acquisition costs | 623.4 | 0 |
Development | 11.8 | 11.4 |
Lease acquisitions and other | 0 | 0.2 |
Capitalized asset retirement costs | $0.10 | $0.10 |
Depreciation, depletion and amortization per unit | 1.67 | 1.45 |
East Texas/North Louisiana | ' | ' |
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ' | ' |
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates (Energy), Other Factors | 7,500,000,000 | 11.5 |
Supplemental_Information_Relat3
Supplemental Information Relating to Oil and Natural Gas Producing Activities (Unaudited) - Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities (Details) (Compass) | 7 Months Ended | 12 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2014 | Feb. 14, 2013 | |||
MBbls | MBbls | MBbls | |||
Oil | ' | ' | ' | ||
Proved Developed and Undeveloped Reserves [Abstract] | ' | ' | ' | ||
Beginning of period | ' | 3,424,000 | ' | ||
Purchase of reserves in place | 3,940,000 | [1] | ' | ' | |
Discoveries and extensions | 188,000 | [2] | 112,000 | [2] | ' |
Changes in price | -125,000 | 233,000 | ' | ||
Other factors | -296,000 | [3] | 335,000 | [4] | ' |
Production | -283,000 | [3] | -414,000 | ' | |
Enf of period | 3,424,000 | 3,690,000 | ' | ||
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward] | ' | ' | ' | ||
Proved Developed Reserves (Volume) | ' | 3,356,000 | 3,107,000 | ||
Proved Undeveloped Reserve (Volume) | ' | 334,000 | 317,000 | ||
Natural Gas | ' | ' | ' | ||
Proved Developed and Undeveloped Reserves [Abstract] | ' | ' | ' | ||
Beginning of period | ' | 322,418,000 | ' | ||
Purchase of reserves in place | 331,592,000 | [1] | ' | ' | |
Discoveries and extensions | 4,416,000 | [2] | 839,000 | [2] | ' |
Changes in price | 13,116,000 | 20,815,000 | ' | ||
Other factors | -12,136,000 | [3] | -13,750,000 | [4] | ' |
Production | -14,570,000 | [3] | -20,882,000 | ' | |
Enf of period | 322,418,000 | 309,440,000 | ' | ||
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward] | ' | ' | ' | ||
Beginning of period | ' | 377,342,000 | ' | ||
Purchase of reserves in place (1) | 399,350,000 | [1] | ' | ' | |
Discoveries and extensions (2) | 10,062,000 | [2] | 2,549,000 | [2] | ' |
Changes in price | 11,556,000 | 25,189,000 | ' | ||
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates (Energy), Other Factors | -25,558,000 | [3] | -9,688,000 | [4] | ' |
Production | -18,068,000 | [3] | -26,492,000 | ' | |
End of period | 377,342,000 | 368,900,000 | ' | ||
Proved Developed Reserves (Volume) | ' | 304,628,000 | 317,748,000 | ||
Proved Undeveloped Reserve (Volume) | ' | 4,812,000 | 4,670,000 | ||
Natural Gas Liquids | ' | ' | ' | ||
Proved Developed and Undeveloped Reserves [Abstract] | ' | ' | ' | ||
Beginning of period | ' | 5,730,000 | ' | ||
Purchase of reserves in place | 7,353,000 | [1] | ' | ' | |
Discoveries and extensions | 753,000 | [2] | 173,000 | [2] | ' |
Changes in price | -135,000 | 496,000 | ' | ||
Other factors | -1,941,000 | [3] | 342,000 | [4] | ' |
Production | -300,000 | [3] | -521,000 | ' | |
Enf of period | 5,730,000 | 6,220,000 | ' | ||
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward] | ' | ' | ' | ||
Proved Developed Reserves (Volume) | ' | 5,145,000 | 4,799,000 | ||
Proved Developed Reserves (Energy) | ' | 355,634,000 | 365,185,000 | ||
Proved Undeveloped Reserve (Volume) | ' | 1,075,000 | 931,000 | ||
Proved Undeveloped Reserves (Energy) | ' | 13,266,000 | 12,157,000 | ||
Permian Basin | ' | ' | ' | ||
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward] | ' | ' | ' | ||
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates (Energy), Other Factors | 18,100,000,000 | ' | ' | ||
East Texas/North Louisiana | ' | ' | ' | ||
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward] | ' | ' | ' | ||
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates (Energy), Other Factors | 7,500,000,000 | 11.5 | ' | ||
[1] | Purchases of reserves in place include the initial contribution of conventional assets from EXCO as of February 14, 2013, and the acquisition of shallow Cotton Valley assets from an affiliate of BG Group as of March 5, 2013. | ||||
[2] | New discoveries and extensions were a result of Compassb development in the Permian basin for both Fiscal 2014 and the period from inception to September 30, 2013. | ||||
[3] | Revisions of previous estimates due to other factors were primarily due to downward adjustments in the Permian basin of 18.1 Bcfe as a result of recent performance and modifications to Compassb development plans which extended the development beyond a five-year horizon. In addition, revisions of previous estimates due to other factors in the East Texas/North Louisiana region were 7.5 Bcfe primarily due to performance. | ||||
[4] | (4) Revisions of previous estimates due to other factors were primarily due to downward adjustments in the East Texas/North Louisiana region of 11.5 Bcfe primarily due to recent performance. |
Supplemental_Information_Relat4
Supplemental Information Relating to Oil and Natural Gas Producing Activities (Unaudited) - Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Compass | ' | ' |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ' | ' |
Future cash inflows | $1,895.20 | $1,638.50 |
Future production costs | 914.9 | 923.7 |
Future development costs | 164.4 | 156 |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Income Tax Expense | 136.2 | 39.3 |
Future net cash flows | 679.7 | 519.5 |
Discount of future net cash flows at 10% per annum | 333.9 | 217.2 |
Standardized measure of discounted future net cash flows | $345.80 | $302.30 |
Oil | ' | ' |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ' | ' |
Reference Price | 99.08 | 95.04 |
Natural Gas | ' | ' |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ' | ' |
Reference Price | 4.24 | 3.6 |
Natural Gas Liquids | ' | ' |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ' | ' |
Reference Price | 43.58 | 38.64 |
Supplemental_Information_Relat5
Supplemental Information Relating to Oil and Natural Gas Producing Activities (Unaudited) - Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows (Details) (USD $) | 7 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2014 |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ' | ' |
Purchase of reserves in place | $300.60 | $0 |
Changes in Future Income Tax Expense Estimates on Future Cash Flows Related to Proved Oil and Gas Reserves | -20.8 | -44.6 |
Net change | 302.3 | 43.5 |
Compass | ' | ' |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ' | ' |
Sales and transfers of oil and natural gas produced | -46.2 | 77.4 |
Net changes in prices and production costs | 39.2 | 141.8 |
Extensions and discoveries, net of future development and production costs | 8.1 | 3.5 |
Development costs during the period | 7.4 | -10 |
Changes in estimated future development costs | 20.2 | -12 |
Revisions of previous quantity estimates | -50.2 | 24.2 |
Accretion of discount before income taxes | 16.1 | 32.3 |
Changes in timing and other | $27.90 | ($34.30) |
Supplemental_Information_Relat6
Supplemental Information Relating to Oil and Natural Gas Producing Activities (Unaudited) - Schedule of Capitalized Costs of Unproved Properties Excluded from Amortization (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Compass | ' | ' |
Capitalized Costs of Unproved Properties Excluded from Amortization [Line Items] | ' | ' |
Property acquisition costs | $18.90 | ' |
Acquisition Costs, Period Cost | 0 | 18.9 |
Capitalized interest | 1.3 | ' |
Capitalized Interest Excluded from Amortization, Period Costs | 0.7 | 0.6 |
Total | 20.2 | ' |
Capitalized Costs of Unproved Properties Excluded from Amortization, Period Cost | $0.70 | $19.50 |
Minimum | ' | ' |
Capitalized Costs of Unproved Properties Excluded from Amortization [Line Items] | ' | ' |
Anticipated Timing of Inclusion of Costs in Amortization Calculation | 'P1Y | ' |
Maximum | ' | ' |
Capitalized Costs of Unproved Properties Excluded from Amortization [Line Items] | ' | ' |
Anticipated Timing of Inclusion of Costs in Amortization Calculation | 'P4Y | ' |
Related_Party_Transactions_Add
Related Party Transactions Addtional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 13, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 18, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
Jefferies Group Inc [Member] | Fortress Investment Group [Member] | Registration Rights Agreement | Registration Rights Agreement | HCP Special Situations Fund | Leucadia [Member] | Leucadia [Member] | Jefferies [Member] | FGL | HGI | HGI | Leucadia [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Fixed Maturities Securities | Fixed Maturities Securities | Fixed Maturities Securities | |||||
Maximum | Maximum | HCP Stockholders [Member] | HCP Stockholders [Member] | Fortress Investment Group [Member] | Leucadia [Member] | Jefferies [Member] | |||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Period End Date | ' | 30-Sep-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Investment Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.60 | $1.10 | $1.20 |
Available-for-sale Securities, Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 194.9 | ' | ' |
Services Agreement advance written notice period for termination | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenses related to Services Agreement | ' | 5.7 | 4.7 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secondary offering, shares | 23,000,000 | ' | ' | ' | ' | ' | 23,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Offering cost incurred by company | ' | ' | ' | ' | ' | ' | ' | 0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased and Retired During Period, Shares | ' | 5,197,000 | ' | ' | ' | ' | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock repurchased | ' | 65.6 | 12.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.6 | 12.3 | ' | ' | ' | ' | ' | ' |
Common stock, shares, issued | ' | 202,295,600 | ' | 142,381,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Price Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $17 | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued investment income | ' | 184.9 | 161.2 | ' | ' | 1.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction, Due from (to) Related Party, Noncurrent | ' | ' | ' | ' | ' | 196.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,000,000 | ' | ' | ' | ' |
Share Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11 | ' | ' | ' |
Stock Issued During Period, Value, Acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 253 | ' | ' | ' | ' |
Percentage Of Beneficial Ownership | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Limitation of Sale to Third Partyholders of Common Stock, Percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.90% | ' | ' | ' | ' | ' |
Shares Offered To Public In Initial Offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,750,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Offered To Underwriters In Initial Offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,463,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Expense Related to Distribution or Servicing and Underwriting Fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Sale of Investments | ' | ' | ' | ' | $5.80 | ' | ' | ' | ' | $1.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related_Party_Transactions_Sch
Related Party Transactions Schedule of Transactions with Related Parties (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Diluted | ($0.03) | $0.28 | ($0.63) | ($0.28) | ($1.45) | $0.25 | ($0.33) | $0.03 | ($0.51) | ($0.67) | $0.15 |
Pro forma diluted net income per common share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.63) | $0.64 |
Document Period End Date | ' | ' | ' | ' | ' | ' | ' | ' | 30-Sep-14 | ' | ' |
Accrued investment income | $184.90 | ' | ' | ' | $161.20 | ' | ' | ' | $184.90 | $161.20 | ' |
Fortress Investment Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued investment income | 1.9 | ' | ' | ' | ' | ' | ' | ' | 1.9 | ' | ' |
Related Party Transaction, Due from (to) Related Party, Noncurrent | 196.8 | ' | ' | ' | ' | ' | ' | ' | 196.8 | ' | ' |
Fixed Maturities Securities | Fortress Investment Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Investment Income | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | ' | ' |
Available-for-sale Securities, Noncurrent | 194.9 | ' | ' | ' | ' | ' | ' | ' | 194.9 | ' | ' |
Fixed Maturities Securities | Leucadia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Investment Income | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | ' | ' |
Fixed Maturities Securities | Jefferies [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Investment Income | ' | ' | ' | ' | ' | ' | ' | ' | $1.20 | ' | ' |
Segment_and_Georgraphic_Data_S1
Segment and Georgraphic Data - Segment Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | $5,963,000,000 | $5,543,400,000 | $4,480,700,000 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 302,600,000 | 358,700,000 | 268,300,000 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated operating income | 144,900,000 | 229,100,000 | 16,200,000 | 179,300,000 | 205,400,000 | 182,600,000 | 134,000,000 | 215,400,000 | 569,500,000 | 737,400,000 | 409,500,000 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -321,900,000 | -511,900,000 | -251,000,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | -12,700,000 | -101,600,000 | -156,600,000 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | 0 | 41,000,000 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -22,200,000 | -5,600,000 | -17,500,000 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 213,200,000 | 118,300,000 | 25,400,000 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 98,200,000 | 100,100,000 | 53,500,000 |
Total assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated total assets | 30,100,200,000 | ' | ' | ' | 27,908,800,000 | ' | ' | ' | 30,100,200,000 | 27,908,800,000 | ' |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 607,900,000 | 522,300,000 | 622,500,000 |
Net sales to external customers | ' | ' | ' | ' | ' | ' | ' | ' | 4,449,200,000 | 4,085,600,000 | 3,252,400,000 |
Long-Lived Assets | 908,600,000 | ' | ' | ' | 993,300,000 | ' | ' | ' | 908,600,000 | 993,300,000 | ' |
Consumer Products Segment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,429,100,000 | 4,085,600,000 | 3,252,400,000 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 157,700,000 | 139,800,000 | 104,500,000 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated operating income | ' | ' | ' | ' | ' | ' | ' | ' | 481,900,000 | 351,200,000 | 301,800,000 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -202,100,000 | 375,600,000 | -191,900,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -6,300,000 | -3,500,000 | -900,000 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 273,500,000 | -27,900,000 | 109,000,000 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 73,400,000 | 81,900,000 | 46,800,000 |
Total assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated total assets | 5,513,000,000 | ' | ' | ' | 5,626,700,000 | ' | ' | ' | 5,513,000,000 | 5,626,700,000 | ' |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 432,700,000 | 256,500,000 | 258,700,000 |
Net sales to external customers | ' | ' | ' | ' | ' | ' | ' | ' | 4,429,100,000 | 4,085,600,000 | 3,252,400,000 |
Long-Lived Assets | 428,900,000 | ' | ' | ' | 412,500,000 | ' | ' | ' | 428,900,000 | 412,500,000 | ' |
Insurance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,349,700,000 | 1,348,400,000 | 1,221,800,000 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 102,500,000 | 186,300,000 | 163,600,000 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated operating income | ' | ' | ' | ' | ' | ' | ' | ' | 284,800,000 | 522,900,000 | 159,900,000 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -22,500,000 | 11,500,000 | -2,500,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 41,000,000 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -200,000 | 100,000 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 256,300,000 | 511,200,000 | 198,500,000 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 9,400,000 | 4,100,000 | 6,200,000 |
Total assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated total assets | 23,195,800,000 | ' | ' | ' | 21,183,100,000 | ' | ' | ' | 23,195,800,000 | 21,183,100,000 | ' |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 288,100,000 | 336,200,000 | 300,000,000 |
Net sales to external customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Lived Assets | 11,400,000 | ' | ' | ' | 7,000,000 | ' | ' | ' | 11,400,000 | 7,000,000 | ' |
Energy Segment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 147,000,000 | 90,200,000 | 0 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 41,800,000 | 32,200,000 | 0 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated operating income | ' | ' | ' | ' | ' | ' | ' | ' | -53,700,000 | -45,200,000 | 0 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -7,700,000 | 4,700,000 | 0 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -6,500,000 | -1,300,000 | 0 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -76,900,000 | -56,800,000 | 0 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 13,400,000 | 13,400,000 | 0 |
Total assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated total assets | 504,800,000 | ' | ' | ' | 617,600,000 | ' | ' | ' | 504,800,000 | 617,600,000 | ' |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 44,300,000 | 37,200,000 | 0 |
Net sales to external customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Lived Assets | 464,400,000 | ' | ' | ' | 572,600,000 | ' | ' | ' | 464,400,000 | 572,600,000 | ' |
Asset Management segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated operating income | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | 10,400,000 | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -1,200,000 | ' | ' |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -6,500,000 | 6,300,000 | ' |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | -4,900,000 | 11,700,000 | ' |
Net sales to external customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 34,200,000 | 28,900,000 | 8,600,000 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 |
Total assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated total assets | 692,500,000 | ' | ' | ' | 572,200,000 | ' | ' | ' | 692,500,000 | 572,200,000 | ' |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales to external customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial Services segment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 34,200,000 | 28,900,000 | 8,600,000 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | 200,000 | 100,000 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | 300,000 | 500,000 |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,700,000 |
Long-Lived Assets | 1,400,000 | ' | ' | ' | 700,000 | ' | ' | ' | 1,400,000 | 700,000 | ' |
Intersegment elimination | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | -17,100,000 | -9,700,000 | -2,100,000 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated operating income | ' | ' | ' | ' | ' | ' | ' | ' | -17,700,000 | -10,900,000 | -2,100,000 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -3,500,000 | ' | 0 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -220,100,000 | -267,500,000 | -372,000,000 |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales to external customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 302,300,000 | 358,500,000 | 268,200,000 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated operating income | ' | ' | ' | ' | ' | ' | ' | ' | 696,000,000 | 828,400,000 | 462,100,000 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 97,100,000 | 99,700,000 | 53,500,000 |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 760,200,000 | 641,600,000 | 572,400,000 |
Long-Lived Assets | 906,100,000 | ' | ' | ' | 992,800,000 | ' | ' | ' | 906,100,000 | 992,800,000 | ' |
Corporate Segment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | 200,000 | 100,000 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | 400,000 | 0 |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | -152,300,000 | -119,300,000 | 50,100,000 |
Corporate expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 20,100,000 | ' | ' |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated operating income | ' | ' | ' | ' | ' | ' | ' | ' | -126,500,000 | -91,000,000 | -52,600,000 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -89,600,000 | 120,100,000 | -56,600,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | -12,700,000 | -101,600,000 | -156,600,000 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | 0 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -4,700,000 | -600,000 | -16,700,000 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -13,100,000 | -47,000,000 | 89,500,000 |
Total assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated total assets | 2,933,100,000 | ' | ' | ' | 2,383,500,000 | ' | ' | ' | 2,933,100,000 | 2,383,500,000 | ' |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales to external customers | ' | ' | ' | ' | ' | ' | ' | ' | 20,100,000 | ' | ' |
Consolidated Entities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 5,942,900,000 | 5,543,400,000 | 4,480,700,000 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 737,400,000 | 409,500,000 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 511,900,000 | -251,000,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | -101,600,000 | -156,600,000 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,000,000 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,600,000 | -17,500,000 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 118,300,000 | 25,400,000 |
Total assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated total assets | 30,100,200,000 | ' | ' | ' | 27,908,800,000 | ' | ' | ' | 30,100,200,000 | 27,908,800,000 | ' |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales to external customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,085,600,000 | 3,252,400,000 |
Corporate assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Lived Assets | 2,500,000 | ' | ' | ' | 500,000 | ' | ' | ' | 2,500,000 | 500,000 | ' |
UNITED STATES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 9,200,000 | -78,900,000 | -146,500,000 |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales to external customers | ' | ' | ' | ' | ' | ' | ' | ' | 2,660,800,000 | 2,411,400,000 | 1,772,100,000 |
Long-Lived Assets | 733,000,000 | ' | ' | ' | 811,600,000 | ' | ' | ' | 733,000,000 | 811,600,000 | ' |
Outside of the United States | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 204,000,000 | 197,200,000 | 171,900,000 |
Net change in cash due to operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales to external customers | ' | ' | ' | ' | ' | ' | ' | ' | 1,788,400,000 | 1,674,200,000 | 1,480,300,000 |
Long-Lived Assets | $175,600,000 | ' | ' | ' | $181,700,000 | ' | ' | ' | $175,600,000 | $181,700,000 | ' |
Segment_and_Georgraphic_Data_A
Segment and Georgraphic Data - Additional Information (Detail) | 12 Months Ended |
Sep. 30, 2014 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of reporting segments | 4 |
Consolidating_Financial_Inform2
Consolidating Financial Information - Schedule of Balance Sheet Information (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Assets: | ' | ' | ' | ' |
Investments | $19,252,500,000 | $16,465,900,000 | ' | ' |
Cash and cash equivalents | 1,319,200,000 | 1,899,700,000 | 1,470,700,000 | 1,137,400,000 |
Receivables, net (Note 10) | 585,100,000 | 611,300,000 | ' | ' |
Inventories, net (Note 11) | 635,200,000 | 632,900,000 | ' | ' |
Accrued investment income | 184,900,000 | 161,200,000 | ' | ' |
Reinsurance recoverable (Note 19) | 2,397,600,000 | 2,363,700,000 | ' | ' |
Deferred tax assets (Note 21) | 186,700,000 | 293,400,000 | ' | ' |
Properties, including oil and natural gas properties, net (Note 12) | 908,600,000 | 993,300,000 | ' | ' |
Goodwill (Note 13) | 1,524,800,000 | 1,476,700,000 | 694,200,000 | ' |
Intangibles, including DAC and VOBA, net (Note 13) | 2,683,700,000 | 2,729,100,000 | 1,988,500,000 | ' |
Other assets | 421,900,000 | 281,600,000 | ' | ' |
Consolidated total assets | 30,100,200,000 | 27,908,800,000 | ' | ' |
Liabilities and Equity: | ' | ' | ' | ' |
Debt | 5,061,100,000 | 4,793,200,000 | ' | ' |
Equity conversion feature of preferred stock (Note 6 and Note 16) | ' | 330,800,000 | ' | ' |
Employee benefit obligations (Note 18) | 86,200,000 | 99,600,000 | ' | ' |
Deferred tax liabilities (Note 21) | 533,300,000 | 492,800,000 | ' | ' |
Total liabilities | 27,843,200,000 | 26,445,900,000 | ' | ' |
Carrying value of Preferred Stock | ' | 329,400,000 | ' | ' |
Total Harbinger Group Inc. stockholders' equity | 1,441,600,000 | 724,700,000 | ' | ' |
Noncontrolling interests | 815,400,000 | 408,800,000 | ' | ' |
Total permanent equity | 2,257,000,000 | 1,133,500,000 | 1,598,900,000 | 1,373,000,000 |
Total liabilities and equity | 30,100,200,000 | 27,908,800,000 | ' | ' |
Consumer Products Segment | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Investments | ' | ' | ' | ' |
Investments in subsidiaries and affiliates | ' | ' | ' | ' |
Affiliated loans and receivables | ' | ' | ' | ' |
Cash and cash equivalents | 194,600,000 | 207,300,000 | ' | ' |
Receivables, net (Note 10) | 515,300,000 | 546,900,000 | ' | ' |
Inventories, net (Note 11) | 624,500,000 | 632,900,000 | ' | ' |
Accrued investment income | ' | ' | ' | ' |
Reinsurance recoverable (Note 19) | ' | ' | ' | ' |
Deferred tax assets (Note 21) | 46,700,000 | 33,000,000 | ' | ' |
Properties, including oil and natural gas properties, net (Note 12) | 428,900,000 | 412,500,000 | ' | ' |
Goodwill (Note 13) | 1,469,600,000 | 1,476,700,000 | ' | ' |
Intangibles, including DAC and VOBA, net (Note 13) | 2,091,500,000 | 2,163,200,000 | ' | ' |
Other assets | 141,900,000 | 154,200,000 | ' | ' |
Consolidated total assets | 5,513,000,000 | 5,626,700,000 | ' | ' |
Liabilities and Equity: | ' | ' | ' | ' |
Insurance reserves | ' | ' | ' | ' |
Debt | 2,990,900,000 | 3,218,900,000 | ' | ' |
Accounts payable and other current liabilities | 816,200,000 | 849,400,000 | ' | ' |
Equity conversion feature of preferred stock (Note 6 and Note 16) | ' | ' | ' | ' |
Employee benefit obligations (Note 18) | 81,900,000 | 96,600,000 | ' | ' |
Deferred tax liabilities (Note 21) | 516,000,000 | 492,800,000 | ' | ' |
Other liabilities | 21,200,000 | 28,900,000 | ' | ' |
Affiliated debt and payables | ' | ' | ' | ' |
Total liabilities | 4,426,200,000 | 4,686,600,000 | ' | ' |
Carrying value of Preferred Stock | ' | ' | ' | ' |
Total Harbinger Group Inc. stockholders' equity | 612,400,000 | 531,000,000 | ' | ' |
Noncontrolling interests | 474,400,000 | 409,100,000 | ' | ' |
Total permanent equity | 1,086,800,000 | 940,100,000 | ' | ' |
Total liabilities and equity | 5,513,000,000 | 5,626,700,000 | ' | ' |
Insurance | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Investments | 18,820,700,000 | 16,282,300,000 | ' | ' |
Investments in subsidiaries and affiliates | 68,200,000 | 62,000,000 | ' | ' |
Affiliated loans and receivables | 157,200,000 | 150,100,000 | ' | ' |
Cash and cash equivalents | 633,800,000 | 1,248,300,000 | ' | ' |
Receivables, net (Note 10) | 2,100,000 | ' | ' | ' |
Inventories, net (Note 11) | ' | ' | ' | ' |
Accrued investment income | 181,800,000 | 159,300,000 | ' | ' |
Reinsurance recoverable (Note 19) | 2,397,600,000 | 2,363,700,000 | ' | ' |
Deferred tax assets (Note 21) | 139,000,000 | 260,400,000 | ' | ' |
Properties, including oil and natural gas properties, net (Note 12) | 11,400,000 | 7,000,000 | ' | ' |
Goodwill (Note 13) | ' | ' | ' | ' |
Intangibles, including DAC and VOBA, net (Note 13) | 550,400,000 | 565,900,000 | ' | ' |
Other assets | 233,600,000 | 84,100,000 | ' | ' |
Consolidated total assets | 23,195,800,000 | 21,183,100,000 | ' | ' |
Liabilities and Equity: | ' | ' | ' | ' |
Insurance reserves | 20,215,100,000 | 18,895,900,000 | ' | ' |
Debt | 300,000,000 | 300,000,000 | ' | ' |
Accounts payable and other current liabilities | 71,900,000 | 52,900,000 | ' | ' |
Equity conversion feature of preferred stock (Note 6 and Note 16) | ' | ' | ' | ' |
Employee benefit obligations (Note 18) | 0 | ' | ' | ' |
Deferred tax liabilities (Note 21) | ' | ' | ' | ' |
Other liabilities | 748,900,000 | 640,200,000 | ' | ' |
Affiliated debt and payables | 7,800,000 | 800,000 | ' | ' |
Total liabilities | 21,343,700,000 | 19,889,800,000 | ' | ' |
Carrying value of Preferred Stock | ' | ' | ' | ' |
Total Harbinger Group Inc. stockholders' equity | 1,526,900,000 | 1,293,300,000 | ' | ' |
Noncontrolling interests | 325,200,000 | ' | ' | ' |
Total permanent equity | 1,852,100,000 | 1,293,300,000 | ' | ' |
Total liabilities and equity | 23,195,800,000 | 21,183,100,000 | ' | ' |
Energy Segment | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Investments | ' | ' | ' | ' |
Investments in subsidiaries and affiliates | ' | ' | ' | ' |
Affiliated loans and receivables | ' | ' | ' | ' |
Cash and cash equivalents | 14,200,000 | 18,700,000 | ' | ' |
Receivables, net (Note 10) | 23,700,000 | 22,200,000 | ' | ' |
Inventories, net (Note 11) | ' | ' | ' | ' |
Accrued investment income | ' | ' | ' | ' |
Reinsurance recoverable (Note 19) | ' | ' | ' | ' |
Deferred tax assets (Note 21) | ' | ' | ' | ' |
Properties, including oil and natural gas properties, net (Note 12) | 464,400,000 | 572,600,000 | ' | ' |
Goodwill (Note 13) | ' | ' | ' | ' |
Intangibles, including DAC and VOBA, net (Note 13) | ' | ' | ' | ' |
Other assets | 2,500,000 | 4,100,000 | ' | ' |
Consolidated total assets | 504,800,000 | 617,600,000 | ' | ' |
Liabilities and Equity: | ' | ' | ' | ' |
Insurance reserves | ' | ' | ' | ' |
Debt | 243,200,000 | 271,200,000 | ' | ' |
Accounts payable and other current liabilities | 31,300,000 | 32,800,000 | ' | ' |
Equity conversion feature of preferred stock (Note 6 and Note 16) | ' | ' | ' | ' |
Employee benefit obligations (Note 18) | ' | ' | ' | ' |
Deferred tax liabilities (Note 21) | ' | ' | ' | ' |
Other liabilities | 27,300,000 | 25,400,000 | ' | ' |
Affiliated debt and payables | 102,300,000 | 102,200,000 | ' | ' |
Total liabilities | 404,100,000 | 431,600,000 | ' | ' |
Carrying value of Preferred Stock | ' | 100,000 | ' | ' |
Total Harbinger Group Inc. stockholders' equity | 100,700,000 | 185,900,000 | ' | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total permanent equity | 100,700,000 | 185,900,000 | ' | ' |
Total liabilities and equity | 504,800,000 | 617,600,000 | ' | ' |
Asset Management segment [Member] | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Investments | 584,600,000 | 389,300,000 | ' | ' |
Investments in subsidiaries and affiliates | ' | ' | ' | ' |
Affiliated loans and receivables | 28,500,000 | 900,000 | ' | ' |
Cash and cash equivalents | 53,500,000 | 166,500,000 | ' | ' |
Receivables, net (Note 10) | 900,000 | 1,200,000 | ' | ' |
Inventories, net (Note 11) | ' | ' | ' | ' |
Accrued investment income | 3,700,000 | 2,300,000 | ' | ' |
Reinsurance recoverable (Note 19) | ' | ' | ' | ' |
Deferred tax assets (Note 21) | ' | ' | ' | ' |
Properties, including oil and natural gas properties, net (Note 12) | 1,400,000 | 700,000 | ' | ' |
Goodwill (Note 13) | 10,700,000 | ' | ' | ' |
Intangibles, including DAC and VOBA, net (Note 13) | ' | ' | ' | ' |
Other assets | 9,200,000 | 11,300,000 | ' | ' |
Liabilities and Equity: | ' | ' | ' | ' |
Insurance reserves | ' | ' | ' | ' |
Debt | 298,700,000 | 181,800,000 | ' | ' |
Accounts payable and other current liabilities | 8,500,000 | 6,300,000 | ' | ' |
Equity conversion feature of preferred stock (Note 6 and Note 16) | ' | ' | ' | ' |
Employee benefit obligations (Note 18) | ' | ' | ' | ' |
Deferred tax liabilities (Note 21) | ' | ' | ' | ' |
Other liabilities | 19,300,000 | 23,300,000 | ' | ' |
Affiliated debt and payables | 286,500,000 | 293,300,000 | ' | ' |
Carrying value of Preferred Stock | ' | ' | ' | ' |
Total Harbinger Group Inc. stockholders' equity | 68,200,000 | 67,800,000 | ' | ' |
Noncontrolling interests | 11,300,000 | -300,000 | ' | ' |
Other Segments [Member] | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Consolidated total assets | 692,500,000 | 572,200,000 | ' | ' |
Liabilities and Equity: | ' | ' | ' | ' |
Total liabilities | 613,000,000 | 504,700,000 | ' | ' |
Total permanent equity | 79,500,000 | 67,500,000 | ' | ' |
Total liabilities and equity | 692,500,000 | 572,200,000 | ' | ' |
Corporate and Other | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Investments | 93,700,000 | 42,300,000 | ' | ' |
Investments in subsidiaries and affiliates | 2,237,900,000 | 2,012,900,000 | ' | ' |
Affiliated loans and receivables | ' | ' | ' | ' |
Cash and cash equivalents | 423,100,000 | 258,900,000 | ' | ' |
Receivables, net (Note 10) | 43,100,000 | 41,000,000 | ' | ' |
Inventories, net (Note 11) | 10,700,000 | ' | ' | ' |
Accrued investment income | ' | ' | ' | ' |
Reinsurance recoverable (Note 19) | ' | ' | ' | ' |
Deferred tax assets (Note 21) | 1,100,000 | ' | ' | ' |
Properties, including oil and natural gas properties, net (Note 12) | 2,500,000 | 500,000 | ' | ' |
Goodwill (Note 13) | 44,500,000 | ' | ' | ' |
Intangibles, including DAC and VOBA, net (Note 13) | 41,800,000 | ' | ' | ' |
Other assets | 34,700,000 | 27,900,000 | ' | ' |
Consolidated total assets | 2,933,100,000 | 2,383,500,000 | ' | ' |
Liabilities and Equity: | ' | ' | ' | ' |
Insurance reserves | ' | ' | ' | ' |
Debt | 1,325,000,000 | 924,200,000 | ' | ' |
Accounts payable and other current liabilities | 104,600,000 | 71,300,000 | ' | ' |
Equity conversion feature of preferred stock (Note 6 and Note 16) | ' | 330,800,000 | ' | ' |
Employee benefit obligations (Note 18) | 4,300,000 | 3,000,000 | ' | ' |
Deferred tax liabilities (Note 21) | 17,200,000 | ' | ' | ' |
Other liabilities | 1,100,000 | 200,000 | ' | ' |
Affiliated debt and payables | 34,800,000 | ' | ' | ' |
Total liabilities | 1,487,000,000 | 1,329,500,000 | ' | ' |
Carrying value of Preferred Stock | ' | 329,300,000 | ' | ' |
Total Harbinger Group Inc. stockholders' equity | 1,441,600,000 | 724,700,000 | ' | ' |
Noncontrolling interests | 4,500,000 | ' | ' | ' |
Total permanent equity | 1,446,100,000 | 724,700,000 | ' | ' |
Total liabilities and equity | 2,933,100,000 | 2,383,500,000 | ' | ' |
Consolidation, Eliminations | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Investments | -246,500,000 | -248,000,000 | ' | ' |
Investments in subsidiaries and affiliates | -2,306,100,000 | -2,074,900,000 | ' | ' |
Affiliated loans and receivables | -185,700,000 | -151,000,000 | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Receivables, net (Note 10) | ' | ' | ' | ' |
Inventories, net (Note 11) | ' | ' | ' | ' |
Accrued investment income | -600,000 | -400,000 | ' | ' |
Reinsurance recoverable (Note 19) | ' | ' | ' | ' |
Deferred tax assets (Note 21) | -100,000 | ' | ' | ' |
Properties, including oil and natural gas properties, net (Note 12) | ' | ' | ' | ' |
Goodwill (Note 13) | ' | ' | ' | ' |
Intangibles, including DAC and VOBA, net (Note 13) | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' |
Consolidated total assets | -2,739,000,000 | -2,474,300,000 | ' | ' |
Liabilities and Equity: | ' | ' | ' | ' |
Insurance reserves | ' | ' | ' | ' |
Debt | ' | ' | ' | ' |
Accounts payable and other current liabilities | 500,000 | ' | ' | ' |
Equity conversion feature of preferred stock (Note 6 and Note 16) | ' | ' | ' | ' |
Employee benefit obligations (Note 18) | ' | ' | ' | ' |
Deferred tax liabilities (Note 21) | 100,000 | ' | ' | ' |
Other liabilities | ' | ' | ' | ' |
Affiliated debt and payables | -431,400,000 | -396,300,000 | ' | ' |
Total liabilities | -430,800,000 | -396,300,000 | ' | ' |
Carrying value of Preferred Stock | ' | ' | ' | ' |
Total Harbinger Group Inc. stockholders' equity | -2,308,200,000 | -2,078,000,000 | ' | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total permanent equity | -2,308,200,000 | -2,078,000,000 | ' | ' |
Total liabilities and equity | -2,739,000,000 | -2,474,300,000 | ' | ' |
Consolidated Entities | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Investments | 19,252,500,000 | 16,465,900,000 | ' | ' |
Investments in subsidiaries and affiliates | ' | ' | ' | ' |
Affiliated loans and receivables | ' | ' | ' | ' |
Cash and cash equivalents | 1,319,200,000 | 1,899,700,000 | ' | ' |
Receivables, net (Note 10) | 585,100,000 | 611,300,000 | ' | ' |
Inventories, net (Note 11) | 635,200,000 | 632,900,000 | ' | ' |
Accrued investment income | 184,900,000 | 161,200,000 | ' | ' |
Reinsurance recoverable (Note 19) | 2,397,600,000 | 2,363,700,000 | ' | ' |
Deferred tax assets (Note 21) | 186,700,000 | 293,400,000 | ' | ' |
Properties, including oil and natural gas properties, net (Note 12) | 908,600,000 | 993,300,000 | ' | ' |
Goodwill (Note 13) | 1,524,800,000 | 1,476,700,000 | ' | ' |
Intangibles, including DAC and VOBA, net (Note 13) | 2,683,700,000 | 2,729,100,000 | ' | ' |
Other assets | 421,900,000 | 281,600,000 | ' | ' |
Consolidated total assets | 30,100,200,000 | 27,908,800,000 | ' | ' |
Liabilities and Equity: | ' | ' | ' | ' |
Insurance reserves | 20,215,100,000 | 18,895,900,000 | ' | ' |
Debt | 5,157,800,000 | 4,896,100,000 | ' | ' |
Accounts payable and other current liabilities | 1,033,000,000 | 1,012,700,000 | ' | ' |
Equity conversion feature of preferred stock (Note 6 and Note 16) | ' | 330,800,000 | ' | ' |
Employee benefit obligations (Note 18) | 86,200,000 | 99,600,000 | ' | ' |
Deferred tax liabilities (Note 21) | 533,300,000 | 492,800,000 | ' | ' |
Other liabilities | 817,800,000 | 718,000,000 | ' | ' |
Affiliated debt and payables | ' | ' | ' | ' |
Total liabilities | 27,843,200,000 | 26,445,900,000 | ' | ' |
Carrying value of Preferred Stock | ' | 329,400,000 | ' | ' |
Total Harbinger Group Inc. stockholders' equity | 1,441,600,000 | 724,700,000 | ' | ' |
Noncontrolling interests | 815,400,000 | 408,800,000 | ' | ' |
Total permanent equity | 2,257,000,000 | 1,133,500,000 | ' | ' |
Total liabilities and equity | $30,100,200,000 | $27,908,800,000 | ' | ' |
Consolidating_Financial_Inform3
Consolidating Financial Information - Schedule of Income Statement Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net consumer and other product sales | ' | ' | ' | ' | ' | ' | ' | ' | $4,449,200,000 | $4,085,600,000 | $3,252,400,000 |
Oil and natural gas | ' | ' | ' | ' | ' | ' | ' | ' | 147,000,000 | 90,200,000 | ' |
Insurance premiums | ' | ' | ' | ' | ' | ' | ' | ' | 56,600,000 | 58,800,000 | 55,300,000 |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | 842,200,000 | 734,700,000 | 722,700,000 |
Net investment gains | ' | ' | ' | ' | ' | ' | ' | ' | 395,300,000 | 511,600,000 | 410,000,000 |
Insurance and investment product fees and other | ' | ' | ' | ' | ' | ' | ' | ' | 72,700,000 | 62,500,000 | 40,300,000 |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 5,963,000,000 | 5,543,400,000 | 4,480,700,000 |
Operating costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of consumer products and other goods sold | ' | ' | ' | ' | ' | ' | ' | ' | 2,875,600,000 | 2,695,300,000 | 2,136,800,000 |
Oil and natural gas direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | 69,600,000 | 44,000,000 | ' |
Benefits and other changes in policy reserves | ' | ' | ' | ' | ' | ' | ' | ' | 852,700,000 | 531,800,000 | 777,400,000 |
Selling, acquisition, operating and general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1,335,400,000 | 1,220,500,000 | 932,700,000 |
Impairment of oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | 81,000,000 | 54,300,000 | 0 |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | 179,200,000 | 260,100,000 | 224,300,000 |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 5,393,500,000 | 4,806,000,000 | 4,071,200,000 |
Operating income | 144,900,000 | 229,100,000 | 16,200,000 | 179,300,000 | 205,400,000 | 182,600,000 | 134,000,000 | 215,400,000 | 569,500,000 | 737,400,000 | 409,500,000 |
Equity in net income (losses) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Affiliated interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 321,900,000 | 511,900,000 | 251,000,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | -12,700,000 | -101,600,000 | -156,600,000 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | 0 | 41,000,000 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -22,200,000 | -5,600,000 | -17,500,000 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 213,200,000 | 118,300,000 | 25,400,000 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 111,500,000 | 187,300,000 | -85,300,000 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 101,700,000 | -69,000,000 | 110,700,000 |
Less: Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 112,000,000 | -23,200,000 | 21,200,000 |
Net (loss) income attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -10,300,000 | -45,800,000 | 89,500,000 |
Less: Preferred stock dividends, accretion and loss on conversion | ' | ' | ' | ' | ' | ' | ' | ' | 73,600,000 | 48,400,000 | 59,600,000 |
Net (loss) income attributable to common and participating preferred stockholders | -6,300,000 | 49,000,000 | -87,600,000 | -39,000,000 | -202,300,000 | 91,600,000 | -45,500,000 | 62,000,000 | -83,900,000 | -94,200,000 | 29,900,000 |
Consumer Products Segment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net consumer and other product sales | ' | ' | ' | ' | ' | ' | ' | ' | 4,429,100,000 | 4,085,600,000 | 3,252,400,000 |
Oil and natural gas | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net investment gains | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance and investment product fees and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,429,100,000 | 4,085,600,000 | 3,252,400,000 |
Operating costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of consumer products and other goods sold | ' | ' | ' | ' | ' | ' | ' | ' | 2,860,300,000 | 2,695,300,000 | 2,136,800,000 |
Oil and natural gas direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Benefits and other changes in policy reserves | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, acquisition, operating and general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1,005,200,000 | 961,300,000 | 750,100,000 |
Impairment of oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | 81,700,000 | 77,800,000 | 63,700,000 |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 3,947,200,000 | 3,734,400,000 | 2,950,600,000 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 481,900,000 | 351,200,000 | 301,800,000 |
Equity in net income (losses) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Affiliated interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 202,100,000 | -375,600,000 | 191,900,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -6,300,000 | -3,500,000 | -900,000 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 273,500,000 | -27,900,000 | 109,000,000 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 59,000,000 | 27,400,000 | 60,400,000 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 214,500,000 | -55,300,000 | 48,600,000 |
Less: Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 88,900,000 | -23,600,000 | 21,200,000 |
Net (loss) income attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | 125,600,000 | -31,700,000 | 27,400,000 |
Less: Preferred stock dividends, accretion and loss on conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Net (loss) income attributable to common and participating preferred stockholders | ' | ' | ' | ' | ' | ' | ' | ' | 125,600,000 | -31,700,000 | 27,400,000 |
Insurance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net consumer and other product sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Oil and natural gas | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance premiums | ' | ' | ' | ' | ' | ' | ' | ' | 56,600,000 | 58,800,000 | 55,300,000 |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | 824,500,000 | 715,500,000 | 716,200,000 |
Net investment gains | ' | ' | ' | ' | ' | ' | ' | ' | 395,900,000 | 511,600,000 | 410,000,000 |
Insurance and investment product fees and other | ' | ' | ' | ' | ' | ' | ' | ' | 72,700,000 | 62,500,000 | 40,300,000 |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,349,700,000 | 1,348,400,000 | 1,221,800,000 |
Operating costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of consumer products and other goods sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Oil and natural gas direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Benefits and other changes in policy reserves | ' | ' | ' | ' | ' | ' | ' | ' | 852,700,000 | 531,800,000 | 777,400,000 |
Selling, acquisition, operating and general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 114,700,000 | 111,400,000 | 123,900,000 |
Impairment of oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | 97,500,000 | 182,300,000 | 160,600,000 |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1,064,900,000 | 825,500,000 | 1,061,900,000 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 284,800,000 | 522,900,000 | 159,900,000 |
Equity in net income (losses) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -6,000,000 | ' | 0 |
Affiliated interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 22,500,000 | -11,500,000 | 2,500,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 41,000,000 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -200,000 | 100,000 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 256,300,000 | 511,200,000 | 198,500,000 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 54,000,000 | 161,000,000 | -145,700,000 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 202,300,000 | 350,200,000 | 344,200,000 |
Less: Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 27,200,000 | ' | 0 |
Net (loss) income attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | 175,100,000 | 350,200,000 | 344,200,000 |
Less: Preferred stock dividends, accretion and loss on conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Net (loss) income attributable to common and participating preferred stockholders | ' | ' | ' | ' | ' | ' | ' | ' | 175,100,000 | 350,200,000 | 344,200,000 |
Energy Segment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net consumer and other product sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Oil and natural gas | ' | ' | ' | ' | ' | ' | ' | ' | 147,000,000 | 90,200,000 | ' |
Insurance premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net investment gains | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance and investment product fees and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 147,000,000 | 90,200,000 | 0 |
Operating costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of consumer products and other goods sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Oil and natural gas direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | 69,600,000 | 44,000,000 | ' |
Benefits and other changes in policy reserves | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, acquisition, operating and general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 50,100,000 | 37,100,000 | ' |
Impairment of oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | 81,000,000 | 54,300,000 | ' |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 200,700,000 | 135,400,000 | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | -53,700,000 | -45,200,000 | 0 |
Equity in net income (losses) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,600,000 | 0 |
Affiliated interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -9,000,000 | ' | 0 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 7,700,000 | -4,700,000 | 0 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -6,500,000 | -1,300,000 | 0 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -76,900,000 | -56,800,000 | 0 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -76,900,000 | -56,800,000 | 0 |
Less: Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Net (loss) income attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -76,900,000 | -56,800,000 | 0 |
Less: Preferred stock dividends, accretion and loss on conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Net (loss) income attributable to common and participating preferred stockholders | ' | ' | ' | ' | ' | ' | ' | ' | -76,900,000 | -56,800,000 | 0 |
Asset Management segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net consumer and other product sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Oil and natural gas | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | 34,200,000 | 28,900,000 | ' |
Net investment gains | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance and investment product fees and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of consumer products and other goods sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Oil and natural gas direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Benefits and other changes in policy reserves | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, acquisition, operating and general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 33,500,000 | 18,500,000 | ' |
Impairment of oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 33,500,000 | 18,500,000 | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | 10,400,000 | ' |
Equity in net income (losses) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,100,000 | ' |
Affiliated interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -6,000,000 | ' | ' |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -1,200,000 | ' | ' |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -6,500,000 | 6,300,000 | ' |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -100,000 | 100,000 | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -6,400,000 | 6,200,000 | ' |
Less: Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -400,000 | 400,000 | ' |
Net (loss) income attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -6,000,000 | 5,800,000 | ' |
Less: Preferred stock dividends, accretion and loss on conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income attributable to common and participating preferred stockholders | ' | ' | ' | ' | ' | ' | ' | ' | -6,000,000 | 5,800,000 | ' |
Other Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net consumer and other product sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,600,000 |
Net investment gains | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance and investment product fees and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 34,200,000 | 28,900,000 | 8,600,000 |
Operating costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of consumer products and other goods sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Benefits and other changes in policy reserves | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, acquisition, operating and general expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,100,000 |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,100,000 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 |
Equity in net income (losses) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Affiliated interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,100,000 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 |
Less: Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Net (loss) income attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 |
Less: Preferred stock dividends, accretion and loss on conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Net (loss) income attributable to common and participating preferred stockholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 |
Corporate and Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net consumer and other product sales | ' | ' | ' | ' | ' | ' | ' | ' | 20,100,000 | ' | ' |
Oil and natural gas | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net investment gains | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance and investment product fees and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 20,100,000 | ' | ' |
Operating costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of consumer products and other goods sold | ' | ' | ' | ' | ' | ' | ' | ' | 15,300,000 | ' | ' |
Oil and natural gas direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Benefits and other changes in policy reserves | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, acquisition, operating and general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 131,300,000 | 91,000,000 | 52,600,000 |
Impairment of oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 146,600,000 | 91,000,000 | 52,600,000 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | -126,500,000 | -91,000,000 | -52,600,000 |
Equity in net income (losses) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 221,400,000 | ' | 372,000,000 |
Affiliated interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -1,500,000 | 266,300,000 | 0 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 89,600,000 | -120,100,000 | 56,600,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | -12,700,000 | -101,600,000 | -156,600,000 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | 0 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -4,700,000 | -600,000 | -16,700,000 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -13,100,000 | -47,000,000 | 89,500,000 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | -1,200,000 | 0 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -14,000,000 | -45,800,000 | 89,500,000 |
Less: Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -3,700,000 | ' | 0 |
Net (loss) income attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -10,300,000 | -45,800,000 | 89,500,000 |
Less: Preferred stock dividends, accretion and loss on conversion | ' | ' | ' | ' | ' | ' | ' | ' | 73,600,000 | 48,400,000 | 59,600,000 |
Net (loss) income attributable to common and participating preferred stockholders | ' | ' | ' | ' | ' | ' | ' | ' | -83,900,000 | -94,200,000 | 29,900,000 |
Intersegment elimination | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net consumer and other product sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Oil and natural gas | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | -16,500,000 | -9,700,000 | -2,100,000 |
Net investment gains | ' | ' | ' | ' | ' | ' | ' | ' | -600,000 | ' | ' |
Insurance and investment product fees and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | -17,100,000 | -9,700,000 | -2,100,000 |
Operating costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of consumer products and other goods sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Oil and natural gas direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Benefits and other changes in policy reserves | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, acquisition, operating and general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | 1,200,000 | ' |
Impairment of oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | 1,200,000 | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | -17,700,000 | -10,900,000 | -2,100,000 |
Equity in net income (losses) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -215,400,000 | 9,700,000 | -372,000,000 |
Affiliated interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 16,500,000 | -266,300,000 | 2,100,000 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -3,500,000 | ' | 0 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -220,100,000 | -267,500,000 | -372,000,000 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -2,300,000 | ' | 0 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -217,800,000 | -267,500,000 | -372,000,000 |
Less: Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Net (loss) income attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -217,800,000 | -267,500,000 | -372,000,000 |
Less: Preferred stock dividends, accretion and loss on conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Net (loss) income attributable to common and participating preferred stockholders | ' | ' | ' | ' | ' | ' | ' | ' | -217,800,000 | -267,500,000 | -372,000,000 |
Consolidated Entities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net consumer and other product sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,085,600,000 | 3,252,400,000 |
Oil and natural gas | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90,200,000 | ' |
Insurance premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58,800,000 | 55,300,000 |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 734,700,000 | 722,700,000 |
Net investment gains | ' | ' | ' | ' | ' | ' | ' | ' | ' | 511,600,000 | 410,000,000 |
Insurance and investment product fees and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62,500,000 | 40,300,000 |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 5,942,900,000 | 5,543,400,000 | 4,480,700,000 |
Operating costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of consumer products and other goods sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,695,300,000 | 2,136,800,000 |
Oil and natural gas direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,000,000 | ' |
Benefits and other changes in policy reserves | ' | ' | ' | ' | ' | ' | ' | ' | ' | 531,800,000 | 777,400,000 |
Selling, acquisition, operating and general expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,220,500,000 | 932,700,000 |
Impairment of oil and natural gas properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54,300,000 | ' |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | 260,100,000 | 224,300,000 |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,806,000,000 | 4,071,200,000 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 737,400,000 | 409,500,000 |
Equity in net income (losses) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Affiliated interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -511,900,000 | 251,000,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | -101,600,000 | -156,600,000 |
Gain on contingent purchase price reduction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,000,000 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,600,000 | -17,500,000 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 118,300,000 | 25,400,000 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 187,300,000 | -85,300,000 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -69,000,000 | 110,700,000 |
Less: Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -23,200,000 | 21,200,000 |
Net (loss) income attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -45,800,000 | 89,500,000 |
Less: Preferred stock dividends, accretion and loss on conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,400,000 | 59,600,000 |
Net (loss) income attributable to common and participating preferred stockholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($94,200,000) | $29,900,000 |
Quarterly_Results_Unaudited_Ad
Quarterly Results (Unaudited) Additonal Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net consumer and other product sales | ' | ' | ' | ' | ' | ' | ' | ' | $4,449.20 | $4,085.60 | $3,252.40 |
Total revenues | 1,512.40 | 1,599.40 | 1,341.20 | 1,510 | 1,498.60 | 1,410.60 | 1,411.90 | 1,222.30 | ' | ' | ' |
Operating income | 144.9 | 229.1 | 16.2 | 179.3 | 205.4 | 182.6 | 134 | 215.4 | 569.5 | 737.4 | 409.5 |
Net (loss) income attributable to common and participating preferred stockholders | ($6.30) | $49 | ($87.60) | ($39) | ($202.30) | $91.60 | ($45.50) | $62 | ($83.90) | ($94.20) | $29.90 |
Basic (in dollars per share) | ($0.03) | $0.28 | ($0.63) | ($0.28) | ($1.45) | $0.45 | ($0.33) | $0.31 | ($0.51) | ($0.67) | $0.15 |
Earnings Per Share, Diluted | ($0.03) | $0.28 | ($0.63) | ($0.28) | ($1.45) | $0.25 | ($0.33) | $0.03 | ($0.51) | ($0.67) | $0.15 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Jul. 23, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Oct. 06, 2014 | Dec. 31, 2014 | Nov. 03, 2014 | Sep. 30, 2014 |
7.875% Senior Secured Notes, due July 15, 2019 | 7.875% Senior Secured Notes, due July 15, 2019 | 7.875% Senior Secured Notes, due July 15, 2019 | 7.875% Senior Secured Notes, due July 15, 2019 | Tell Manufacturing [Member] | Compass Production Partners [Member] | Compass Production Partners [Member] | Ability Re [Member] | Ability Re [Member] | Global Expense Rationalization Initiatives | |
HGI | HGI | HGI | HGI | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred | ' | ' | ' | ' | $31,800,000 | $118,800,000 | ' | $17,900,000 | ' | ' |
Business Acquisition Percentage Of Equity Interests Acquired | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | 225,000,000 | 700,000,000 | ' | ' | ' | ' | ' | ' |
Long-term debt, interest rate | 7.90% | 0.00% | ' | 7.88% | ' | ' | ' | ' | ' | ' |
Debt Instrument Issue Price As Percentage Of Principle Amount | ' | ' | 101.50% | 99.36% | ' | ' | ' | ' | ' | ' |
Total Projected Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,500,000 |
Maximum Amount Of Asset Securing Reinsurance Obligations | ' | ' | ' | ' | ' | ' | ' | ' | $350,000,000 | ' |
Schedule_I_Summary_of_Investme1
Schedule I - Summary of Investments, Other Than Investments in Related Parties Schedule I - Summary of Investments, Other Than Investments in Related Parties (Details) (USD $) | Sep. 30, 2014 | |
In Millions, unless otherwise specified | ||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | $18,409.80 | [1] |
Fair Value | 19,252.50 | |
Amount at which shown in the balance sheet | 19,252.50 | |
United States Government and government agencies and authorities | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 395.3 | [1] |
Fair Value | 403.3 | |
Amount at which shown in the balance sheet | 403.3 | |
States, municipalities and political subdivisions | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 1,149.90 | [1] |
Fair Value | 1,259.80 | |
Amount at which shown in the balance sheet | 1,259.80 | |
Foreign governments | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 13.1 | [1] |
Fair Value | 12.9 | |
Amount at which shown in the balance sheet | 12.9 | |
Public utilities | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 1,822.20 | [1] |
Fair Value | 1,922.40 | |
Amount at which shown in the balance sheet | 1,922.40 | |
All other corporate bonds | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 12,968.20 | [1] |
Fair Value | 13,492.40 | |
Amount at which shown in the balance sheet | 13,492.40 | |
Redeemable preferred stock | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 120 | [1] |
Fair Value | 120.7 | |
Amount at which shown in the balance sheet | 120.7 | |
Total fixed maturities | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 16,468.70 | [1] |
Fair Value | 17,211.50 | |
Amount at which shown in the balance sheet | 17,211.50 | |
Banks, trust, and insurance companies | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 98.4 | [1] |
Fair Value | 85.4 | |
Amount at which shown in the balance sheet | 85.4 | |
Industrial, miscellaneous and all other | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 141.2 | [1] |
Fair Value | 104.5 | |
Amount at which shown in the balance sheet | 104.5 | |
Nonredeemable preferred stock | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 547.3 | [1] |
Fair Value | 578.2 | |
Amount at which shown in the balance sheet | 578.2 | |
Total equity securities | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 786.9 | [1] |
Fair Value | 768.1 | |
Derivative investments | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 177.7 | [1] |
Fair Value | 296.3 | |
Amount at which shown in the balance sheet | 296.3 | |
Asset-based loans | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 811.6 | [1] |
Fair Value | 811.6 | |
Amount at which shown in the balance sheet | 811.6 | |
Policy loans | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 10.6 | [1] |
Fair Value | 10.6 | |
Amount at which shown in the balance sheet | 10.6 | |
Other invested assets | ' | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ' | |
Amortized Cost | 154.3 | [1] |
Fair Value | 154.4 | |
Amount at which shown in the balance sheet | $154.40 | |
[1] | Represents (i)B original cost reduced by repayments and other-than-temporary impairments and adjusted for amortization of premiums and accrual of discounts for fixed maturity securities, (ii)B original cost reduced by other-than-temporary impairments for equity securities, (iii)B original cost for derivative investments, and (iv)B unpaid principal balance reduced by an allowance for credit losses for asset-based loans. |
Schedule_II_Condensed_Financia1
Schedule II - Condensed Financial Information of Registrant - Condensed Balance Sheet of Registrant (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
In Millions, unless otherwise specified | ||||
ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | $1,319.20 | $1,899.70 | $1,470.70 | $1,137.40 |
Receivables, net | 585.1 | 611.3 | ' | ' |
Properties, net | 462.9 | 441 | ' | ' |
Consolidated total assets | 30,100.20 | 27,908.80 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' |
Long-term debt | 5,194.50 | 4,909.70 | ' | ' |
Debt (Note 15) | 5,157.80 | 4,896.10 | ' | ' |
Equity conversion feature of preferred stock (Note 6 and Note 16) | ' | 330.8 | ' | ' |
Deferred tax liabilities (Note 21) | 533.3 | 492.8 | ' | ' |
Other liabilities | 817.8 | 718 | ' | ' |
Total liabilities | 27,843.20 | 26,445.90 | ' | ' |
Stockholdersb equity: | ' | ' | ' | ' |
Common stock, $0.01 par; 500,000.0 thousand shares authorized; 202,295.6 thousand and 142,381.1 thousand shares issued and outstanding at September 30, 2014 and 2013, respectively. | 2 | 1.4 | ' | ' |
Accumulated deficit | -276.3 | -192.4 | ' | ' |
Accumulated other comprehensive income | 243.6 | 87.7 | ' | ' |
Total permanent equity | 2,257 | 1,133.50 | 1,598.90 | 1,373 |
Total liabilities and equity | 30,100.20 | 27,908.80 | ' | ' |
HGI | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | 420 | 256.9 | 235.8 | 134.8 |
Receivables, net | 42.5 | 41 | ' | ' |
Prepaid expenses and other current assets | 0 | 3.3 | ' | ' |
Total current assets | 462.5 | 301.2 | ' | ' |
Investments in subsidiaries and affiliates | 2,357.40 | 2,049 | ' | ' |
Advances to consolidated subsidiaries | 9.6 | 9.5 | ' | ' |
Properties, net | 0.6 | 0.5 | ' | ' |
Deferred charges and other assets | 31.6 | 23.1 | ' | ' |
Consolidated total assets | 2,861.70 | 2,383.30 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' |
Accounts payable | 3 | 1.4 | ' | ' |
Accrued and other current liabilities | 86.7 | 69.6 | ' | ' |
Total current liabilities | 89.7 | 71 | ' | ' |
Long-term debt | 1,354.40 | 924.2 | ' | ' |
Debt (Note 15) | 1,325 | ' | ' | ' |
Equity conversion feature of preferred stock (Note 6 and Note 16) | 0 | 330.8 | ' | ' |
Employee benefit obligations | 4.3 | 3 | ' | ' |
Other liabilities | 1.1 | 0.3 | ' | ' |
Total liabilities | 1,420.10 | 1,329.30 | ' | ' |
Temporary equity | ' | ' | ' | ' |
Redeemable preferred stock | 0 | 329.3 | ' | ' |
Stockholdersb equity: | ' | ' | ' | ' |
Common stock, $0.01 par; 500,000.0 thousand shares authorized; 202,295.6 thousand and 142,381.1 thousand shares issued and outstanding at September 30, 2014 and 2013, respectively. | 2 | 1.4 | ' | ' |
Additional paid-in capital | 1,472.30 | 828 | ' | ' |
Accumulated deficit | -276.3 | -192.4 | ' | ' |
Accumulated other comprehensive income | 243.6 | 87.7 | ' | ' |
Total permanent equity | 1,441.60 | 724.7 | ' | ' |
Total liabilities and equity | $2,861.70 | $2,383.30 | ' | ' |
Schedule_II_Condensed_Financia2
Schedule II - Condensed Financial Information of Registrant - Condensed Statements of Operations of Registrant (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | $5,963,000,000 | $5,543,400,000 | $4,480,700,000 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income | 144,900,000 | 229,100,000 | 16,200,000 | 179,300,000 | 205,400,000 | 182,600,000 | 134,000,000 | 215,400,000 | 569,500,000 | 737,400,000 | 409,500,000 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -321,900,000 | -511,900,000 | -251,000,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | -12,700,000 | -101,600,000 | -156,600,000 |
Gain On Contingent Purchase Price Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | 41,000,000 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -22,200,000 | -5,600,000 | -17,500,000 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 213,200,000 | 118,300,000 | 25,400,000 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 111,500,000 | 187,300,000 | -85,300,000 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 101,700,000 | -69,000,000 | 110,700,000 |
Less: Preferred stock dividends, accretion and loss on conversion | ' | ' | ' | ' | ' | ' | ' | ' | 73,600,000 | 48,400,000 | 59,600,000 |
Net (loss) income attributable to common and participating preferred stockholders | -6,300,000 | 49,000,000 | -87,600,000 | -39,000,000 | -202,300,000 | 91,600,000 | -45,500,000 | 62,000,000 | -83,900,000 | -94,200,000 | 29,900,000 |
HGI | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 111,100,000 | 77,400,000 | 48,400,000 |
Acquisition related charges | ' | ' | ' | ' | ' | ' | ' | ' | 4,200,000 | 12,700,000 | 3,700,000 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 115,300,000 | 90,100,000 | 52,100,000 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | -115,300,000 | -90,100,000 | -52,100,000 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in net income (losses) of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 207,700,000 | 263,700,000 | 354,600,000 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -89,700,000 | -120,100,000 | -56,600,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | -12,700,000 | -101,600,000 | -156,600,000 |
Gain On Contingent Purchase Price Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 1,100,000 | 200,000 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -9,400,000 | -47,000,000 | 89,500,000 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | -1,200,000 | 0 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -10,300,000 | -45,800,000 | 89,500,000 |
Less: Preferred stock dividends, accretion and loss on conversion | ' | ' | ' | ' | ' | ' | ' | ' | 73,600,000 | 48,400,000 | 59,600,000 |
Net (loss) income attributable to common and participating preferred stockholders | ' | ' | ' | ' | ' | ' | ' | ' | ($83,900,000) | ($94,200,000) | $29,900,000 |
Schedule_II_Condensed_Financia3
Schedule II - Condensed Financial Information of Registrant - Condensed Statements of Cash Flows of Registrant (Details) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | $101,700,000 | ($69,000,000) | $110,700,000 |
Adjustments to reconcile net income (loss) to operating cash flows: | ' | ' | ' |
Depreciation and amortization | 302,600,000 | 358,700,000 | 268,300,000 |
Stock compensation | 91,100,000 | 61,500,000 | 31,200,000 |
Amortization of debt issuance costs | 21,000,000 | 18,100,000 | 12,800,000 |
Amortization of debt discount | 4,600,000 | 3,000,000 | 1,300,000 |
Write-off of debt issuance costs on retired debt | 6,400,000 | 32,400,000 | 2,900,000 |
Write-off of debt discount on retired debt | 2,800,000 | -3,100,000 | -500,000 |
Equity in net income of subsidiaries | ' | ' | ' |
Gain On Contingent Purchase Price Adjustment | -500,000 | ' | -41,000,000 |
Changes in operating assets and liabilities: | ' | ' | ' |
Net change in cash due to operating activities | 607,900,000 | 522,300,000 | 622,500,000 |
Cash flows from investing activities: | ' | ' | ' |
Proceeds from investments sold, matured or repaid | 5,609,200,000 | 9,432,200,000 | 6,206,700,000 |
Cost of investments acquired | -7,221,400,000 | -8,940,800,000 | -5,972,700,000 |
Capital expenditures | -98,200,000 | -100,100,000 | -53,500,000 |
Net change in cash due to investing activities | -1,920,600,000 | -2,010,800,000 | -185,600,000 |
Cash flows from financing activities: | ' | ' | ' |
Dividends paid on preferred stock | -28,600,000 | -33,400,000 | -23,600,000 |
Repayment of senior secured notes, including tender / call premium | ' | ' | 0 |
Common stock repurchased | -65,600,000 | -12,300,000 | ' |
Share based award tax withholding payments | -31,500,000 | -22,300,000 | -3,900,000 |
Other financing activities, net | 2,800,000 | ' | -1,000,000 |
Net change in cash due to financing activities | 740,400,000 | 1,922,000,000 | -102,700,000 |
Net change in cash and cash equivalents | -580,500,000 | 429,000,000 | 333,300,000 |
Cash and cash equivalents at beginning of period | 1,899,700,000 | 1,470,700,000 | 1,137,400,000 |
Cash and cash equivalents at end of period | 1,319,200,000 | 1,899,700,000 | 1,470,700,000 |
HGI | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | -10,300,000 | -45,800,000 | 89,500,000 |
Adjustments to reconcile net income (loss) to operating cash flows: | ' | ' | ' |
Depreciation and amortization | 200,000 | 200,000 | 100,000 |
Stock compensation | 27,000,000 | 11,700,000 | 1,900,000 |
Amortization of debt issuance costs | 3,500,000 | 2,700,000 | 2,900,000 |
Amortization of debt discount | 1,500,000 | 500,000 | 600,000 |
Write-off of debt issuance costs on retired debt | 0 | 10,800,000 | 0 |
Write-off of debt discount on retired debt | 0 | 2,100,000 | 0 |
Deferred income taxes | 0 | 0 | 3,600,000 |
Equity in net income of subsidiaries | -207,700,000 | -263,700,000 | -354,600,000 |
Dividends from subsidiaries | 118,000,000 | 127,100,000 | 69,500,000 |
Loss from the change in the fair value of the equity conversion feature of preferred stock | 12,700,000 | 101,600,000 | 156,600,000 |
Gain On Contingent Purchase Price Adjustment | -500,000 | ' | ' |
Changes in operating assets and liabilities: | ' | ' | ' |
Prepaid expenses and other current assets | 0 | 0 | -4,600,000 |
Accounts payable and accrued and other current liabilities | 43,500,000 | 51,400,000 | 27,000,000 |
Other operating | -700,000 | 11,600,000 | -1,700,000 |
Net change in cash due to operating activities | -12,800,000 | 10,200,000 | -9,200,000 |
Cash flows from investing activities: | ' | ' | ' |
Proceeds from investments sold, matured or repaid | 0 | 34,000,000 | 108,900,000 |
Cost of investments acquired | 0 | 0 | -68,000,000 |
Capital contributions to consolidated subsidiaries | -115,500,000 | -454,400,000 | -36,300,000 |
Return of capital from subsidiary | 0 | 126,800,000 | 88,000,000 |
(Advances to) repayments from consolidated subsidiaries | 0 | 0 | 49,300,000 |
Capital expenditures | -300,000 | -400,000 | 0 |
Net change in cash due to investing activities | -115,800,000 | -294,000,000 | 141,900,000 |
Cash flows from financing activities: | ' | ' | ' |
Dividends paid on preferred stock | -28,600,000 | -33,400,000 | -31,700,000 |
Proceeds from senior secured notes | 400,000,000 | 923,900,000 | 0 |
Repayment of senior secured notes, including tender / call premium | 0 | -545,900,000 | ' |
Debt issuance costs | -10,400,000 | -25,100,000 | 0 |
Common stock repurchased | -65,600,000 | -12,300,000 | ' |
Share based award tax withholding payments | -6,500,000 | -2,300,000 | ' |
Other financing activities, net | 2,800,000 | 0 | 0 |
Net change in cash due to financing activities | 291,700,000 | 304,900,000 | -31,700,000 |
Net change in cash and cash equivalents | 163,100,000 | 21,100,000 | 101,000,000 |
Cash and cash equivalents at beginning of period | 256,900,000 | 235,800,000 | 134,800,000 |
Cash and cash equivalents at end of period | $420,000,000 | $256,900,000 | $235,800,000 |
Schedule_III_Supplemental_Insu1
Schedule III - Supplemental Insurance Information Schedule III - Supplemental Insurance Information (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Supplementary Insurance Information [Abstract] | ' | ' | ' | ' |
Other policy claims and benefits payable | $58.10 | $51.50 | $91.10 | ' |
Deferred acquisition costs | 463.8 | ' | 340.6 | 169.2 |
Future policy benefits, losses, claims and loss expenses | 3,655.50 | ' | 3,556.80 | 3,614.80 |
Premium revenue | 56.6 | 55.3 | 58.8 | ' |
Net investment income | 824.5 | 716.2 | 715.5 | ' |
Benefits, claims, losses and settlement expenses | -852.7 | -777.4 | -531.8 | ' |
Amortization of deferred acquisition costs | -41.7 | -15.2 | -45.3 | ' |
Other operating expenses | ($114.70) | ($123.90) | ($111.40) | ' |
Schedule_IV_Reinsurance_Schedu
Schedule IV - Reinsurance Schedule IV - Reinsurance (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ' | ' | ' |
Gross Amount, life insurance in force | $2,785.60 | $2,596.70 | $2,436.30 |
Ceded to other companies, life insurance in force | -2,014.30 | -1,965.40 | -1,929 |
Assumed from other companies, life insurance in force | 16.4 | 17.3 | 22.8 |
Net Amount, life insurance in force | 787.7 | 648.6 | 530.1 |
Percentage of amount assumed to net, life insurance in force | 2.08% | 2.67% | 4.30% |
Gross Amount, premiums and other considerations | 409.3 | 414.7 | 415.9 |
Ceded to other companies, premiums and other considerations | -317.5 | -328.2 | -369.5 |
Assumed from other companies, premiums and other considerations | 35.9 | 32.8 | 47.2 |
Total Premiums and Other Considerations, net | 127.7 | 119.3 | 93.6 |
Net Amount, premiums and other considerations | 56.6 | 58.8 | 55.3 |
Percentage of amount assumed to net, premiums and other considerations | 28.10% | 27.49% | 50.43% |
Life Insurance Product Line | ' | ' | ' |
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ' | ' | ' |
Gross Amount, premiums and other considerations | 266.8 | 279.2 | 298 |
Ceded to other companies, premiums and other considerations | -246.1 | -253.2 | -289.9 |
Assumed from other companies, premiums and other considerations | 35.9 | 32.8 | 47.2 |
Net Amount, premiums and other considerations | 56.6 | 58.8 | 55.3 |
Percentage of amount assumed to net, premiums and other considerations | 63.40% | 55.78% | 85.40% |
Annuity product line | ' | ' | ' |
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ' | ' | ' |
Gross Amount, premiums and other considerations | 142.5 | 135.5 | 117.9 |
Ceded to other companies, premiums and other considerations | -71.4 | -75 | -79.6 |
Assumed from other companies, premiums and other considerations | 0 | 0 | 0 |
Net Amount, premiums and other considerations | $71.10 | $60.50 | $38.30 |
Percentage of amount assumed to net, premiums and other considerations | 0.00% | 0.00% | 0.00% |